Apparently Anchor Bank didn’t get Gov. Scott Walker’s memo that Wisconsin is “Open for Business.”
The parent company of AnchorBank said Thursday that it is offering buyouts to about a fifth of its employees, closing six branches and selling another branch as part of an “operational efficiency” effort.
Madison-based Anchor BanCorp Wisconsin Inc., which struggled during the economic downturn but received a fresh start through a bankruptcy reorganization and recapitalization plan in 2013, said its voluntary separation plan has been offered to 137 of the company’s 705 employees.
dodd Frank is killing the samll banks, ask them.
I think it was 2005 Anchor’s stock price hit a $1, while Dodd-Frank was signed into law in 2010. Both narratives here are incorrect. Anchor has experienced significant trouble for years due to poor leadership. Regular employees always pay the price, though.