This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AnchorBanCorp Wisconsin, Inc. Clarifies Errors In Crain's Chicago Business Article

MADISON, Wis., Sept. 15, 2010 (GLOBE NEWSWIRE) -- Anchor BanCorp Wisconsin Inc. (Nasdaq:ABCW), the holding company for AnchorBank, fsb (Bank) today responded to factual errors contained on a September 13, 2010, article in Crain's Chicago Business.

In mentioning the conditional approval of the bank's capital plan by its primary regulator, the Office of Thrift Supervision (OTS), the article erroneously states that the conditional approval of the plan, "effectively set a 60-day deadline to restore the bank to health."

No such definitive timeframe exists in the capital plan as conditionally approved or the Prompt Corrective Action (PCA) agreement with the OTS, which outlines the action steps the bank must take in order to comply with the OTS's approval of the capital restoration plan.

"We are working in a very positive manner with our regulators as we work to improve our capital position, as demonstrated by the OTS's approval of our capital plan," said Chris Bauer, Chief Executive Officer.

The capital plan includes two sets of assumptions for continuing to improve the Bank's capital levels in the future, one based on obtaining capital from an outside source and one which reflects the results of the Bank's ongoing internal initiatives in the absence of an external capital infusion.

Bauer added, "Any speculation of an imminent action against AnchorBank by the OTS or FDIC resulting in our acquisition by another bank is not only speculation, but speculation which can only be seen as inconsistent with the OTS's conditional approval of our capital plan and our return to adequately capitalized status. We continue to be engaged, along with our advisors Sandler O'Neill and Partners, in active discussions with potential investors as well as continuing to take aggressive internal actions to improve the Bank's overall capital position."

As previously released, based on the bank's internal financial reporting its capital ratio improved to 8.05% Total Risk Based Capital Ratio as of July 31, returning it to "adequately capitalized" status and continues to be supported by a strong liquidity position, which exceeded $470 million as of July 31, 2010.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ABCW $37.14 0.00%
AAPL $132.04 0.00%
FB $80.55 0.00%
GOOG $539.79 0.00%
TSLA $247.43 0.00%

Markets

DOW 18,162.99 +121.45 0.67%
S&P 500 2,123.48 +19.28 0.92%
NASDAQ 5,106.5930 +73.8420 1.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs