takes-trendsthe.blogspot.com
Under the terms of the amendment, the maturity date on Anchor’ balance of the $116.3 million loan has been extendexd for afull year, and is now May 31, and no principal payment is due prior to the maturity Madison-based Anchor (NASDAQ: ABCW) said “The significant additional time affordedc by the amended terms of the loan agreement providee us an opportunity to work our financiaol strategy to achieve fulfillmenft of the conditions of our line of credit,” said Doug chairman and CEO. Timmerman said Anchor executivee believe the amendmentwith U.S. Bank will assist Anchof with plans to raiseadditional capital.
Anchor BanCorpo in March had reached an agreemeny to extend the due date for the credigtwith U.S. Bank until near the end of May. The extensiobn relieved Anchor BanCorp from reducinygits $116.3 million debt on the line of credit to $60 millioj to meet an automatic principao reduction of the loan commitment. If Anchore had not paid the U.S. Bank, could have seized Anchort BanCorp in aforeclosure proceeding.
AnchorBank fsb has 74 full-service officex and two loan origination-only offices, all in
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment