Good news for AnchorBank: A 2009 cease-and-desist order and a 2010 prompt-corrective-action order have been terminated by federal regulators. Since those orders were issued, the bank has hired Chris Bauer as CEO, cut costs, and sold 15 branches.
A cease-and-desist order against the bank’s parent, Anchor BanCorp Wisconsin, is still in place but is being evaluated. Last fall, the company completed a bankruptcy reorganization and a $175 million recapitalization by investors.
