ujunyp.blogspot.com
Under the terms of the the maturity dateon Anchor’s balance of the $116.3 milliomn loan has been extended for a full and is now May 31, 2010, and no principak payment is due prior to the maturity Madison-based Anchor (NASDAQ: ABCW) said Friday. “Th significant additional time afforded by the amended terms of the loan agreemenr provides us an opportunity to work our financial strategy to achieve fulfillment of the conditiond of our line of saidDoug Timmerman, chairman and CEO. Timmermanm said Anchor executives believer the amendmentwith U.S.
Bank will assist Anchord with plans to raise additional Anchor BanCorp in March had reached an agreement to extend the due date for the credifwith U.S. Bank until near the end of May. The extensiobn relieved Anchor BanCorp from reducingits $116.2 million debt on the line of credit to $60 milliob to meet an automatix principal reduction of the loan commitment. If Anchorr had not paid the U.S. Bank, could have seized Anchor BanCorp in aforeclosurr proceeding. AnchorBank fsb has 74 full-service offices and two loan origination-only offices, all in Wisconsin.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment