AnchorBank Announces Promotions And New Appointments

MADISON, Wis., July 9, 2010 (GLOBE NEWSWIRE) -- As part of an ongoing effort to drive operational excellence and strengthen the Bank's management team, AnchorBank, fsb is announcing that its Board of Directors has made several new promotions and appointments. "These promotions and appointments are part of our strategy to strengthen our senior leadership team, leveraging both existing strong players, and where appropriate, bringing in new talent," said AnchorBank Chief Executive Officer Chris Bauer.

Promotions

As part of a strategic combination of the Bank's Residential and Consumer lending divisions into a single Retail Lending Group, Don Bertucci has been promoted to Executive Vice President – Retail Lending. Mr. Bertucci has been with the Bank for 38 years, most recently leading its Residential Mortgage division as Senior Vice President – Residential Lending since 1992. Under Mr. Bertucci's leadership, AnchorBank grew to become a major home lender across Wisconsin, with loan originations of $1.2 billion last fiscal year. Lynette Passini has been promoted to the position of Senior Vice President – Retail Lending Operations. Lynette joined the bank in 1971 and most recently served as 1st Vice President – Residential Lending Operations.

 "The combination of our highly successful Residential lending operation and our Consumer lending division, which is largely focused on home equity lending, will help us drive greater operational efficiencies and sales results. Don and Lyn's contributions to AnchorBank over the years have been tremendous, and their experience and skills make them the ideal choice to lead this combined group," said Bauer.

Joseph Hauser has been promoted to 1 ^st Vice President – Internal Audit. Mr. Hauser has been with AnchorBank since 1987 when he joined the Bank as an Assistant Staff Auditor in the Internal Audit Department and was promoted to Vice President – Chief Internal Auditor in August 2009. "Since being promoted to head the Internal Audit Department last year, Joe has brought an increased level of thoroughness and rigor to this critical function. His promotion to 1 ^st Vice President recognizes this success," commented Bauer.

Messrs. Kurt Reindl and Scott Ciano have been named Senior Vice Presidents of the Credit Operations Group and Special Assets Group, respectively. Mr. Reindl has been with the Bank since November 2009 and has been instrumental in consolidating and driving improvements in the area of Credit Administration. He brings more than 20 years of experience in the financial services industry to AnchorBank including experience at Metevante Corporation, TCF Financial Services and Baker Tilly, LLP among others.