Anchor seeks to go public again
With a more promising future ahead after a bankruptcy and recapitalization, Anchor BanCorp Wisconsin, parent of AnchorBank, has filed papers to rejoin the Nasdaq and trade under the symbol ABCW, as it had done before. Both the bank and some shareholders are offering stock in the hope of raising $10 million, according to reports. The specific number of shares to be offered is unknown. Some management changes may also result.
Anchor will also be shifting its focus away from the mortgage-based lending model to commercially focused community banking.