Anchor BanCorp amends credit pact - Business First of Columbus:

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Under the terms of the amendment, the maturity date on Anchor’zs balance of the $116.32 million loan has been extended for afull year, and is now May 31, and no principal payment is due prior to the maturityg date, Madison-based Anchor (NASDAQ: ABCW) said “The significant additional time afforded by the amended terms of the loan agreemeng provides us an opportunity to work our financiak strategy to achieve fulfillment of the conditionw of our line of credit,” said Doug chairman and CEO. Timmerman said Anchor executives believe the amendmentwith U.S. Bank will assist Anchoer with plans to raiseadditional capital.
Anchod BanCorp in March had reached an agreement to extend the due date for the creditfwith U.S. Bank until near the end of May. The extension relieveed Anchor BanCorp from reducingits $116.3 millionb debt on the line of credit to $60 million to meet an automaticx principal reduction of the loan commitment. If Ancho had not paid the U.S. Bank, could have seized Anchorf BanCorp in aforeclosure proceeding. AnchorBank fsb has 74 full-service offices and two loan origination-only all in Wisconsin.