AnchorBank will close its Madison branch on Junction Road by the end of September, according to multiple news reports. Five other branches — in Appleton, Franklin, Janesville, Menasha, and Oshkosh — will also close.
Thirty full- and part-time workers will be laid off as the bank moves to improve its operational efficiencies, while another 137 employees will be offered voluntary separation packages.
AnchorBank will also sell its Winneconne, Wis., branch to Premier Community Bank of Marion.
CORRECTION: An earlier version of this story said AnchorBank is planning to cut 20% of its staff. That percentage erroneously took into account the 137 employees who are being offered voluntary separation packages. Those employees who do not accept the voluntary separation plan will retain their current positions.
