By Stacy Vogel Davis
Anchor BanCorp Wisconsin Inc. has completed its $175 million recapitalization, it said Friday in a news release.
The previously announced recapitalization comes after a Chapter 11 reorganization package for the bank was approved Aug. 30.
The new capital gives Anchor BanCorp’s subsidiary, AnchorBank, one of the highest capital ratios of Wisconsin banks, president and CEO Chris Bauer said in the release.
“We have been aggressively working for four years to get to this point, and we’re proud that the recapitalization effort is now complete, positioning AnchorBank for a full return to profitability and growth,” Bauer said in the release.