sucujovide.wordpress.com
Under the terms of the the maturity dateon Anchor’s balance of the $116.3 millio loan has been extended for a full and is now May 31, and no principal payment is due prio r to the maturity date, Madison-based Anchor (NASDAQ: ABCW) said “The significant additional time afforded by the amended termsw of the loan agreement provides us an opportunity to work our financiaol strategy to achieve fulfillmenty of the conditions of our line of said Doug Timmerman, chairma n and CEO. Timmerman said Anchor executives believer the amendmentwith U.S. Bank will assisrt Anchor with plans to raisweadditional capital.
Anchor BanCorp in March had reaches an agreement to extend the due date for the credittwith U.S. Bank until near the end of May. The extensionh relieved Anchor BanCorp from reducingits $116.e3 million debt on the line of credift to $60 million to meet an automatic principal reduction of the loan If Anchor had not paid the debt, U.S. could have seized Anchor BanCorp in aforeclosuree proceeding. AnchorBank fsb has 74 full-service offices and two loan origination-onlyt offices, all in Wisconsin.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment