Anchor Bancorp Wisconsin Inc.: Announces definitive agreement to sell Richland center branch

MADISON, Wis., Oct. 30, 2014 (GLOBE NEWSWIRE) — AnchorBank, fsb, a
wholly owned subsidiary of Anchor BanCorp Wisconsin Inc. (Nasdaq:ABCW),
today announced that it has entered into a definitive agreement for the
sale of its Richland Center retail banking branch to The Peoples
Community Bank (Peoples). The transaction is subject to regulatory
approval and customary closing conditions and is targeted for closing
by the end of December 2014. Financial terms of the transaction were
not disclosed.



Under the agreement, Peoples will assume approximately $19 million in
deposits along with loans and other assets. The branch involved in the
transaction is located at 187 South Central Avenue in Richland Center,
Wisconsin.



“The Peoples Community Bank approached us about this purchase, and it
made sense to pursue the sale following the recapitalization of
AnchorBank,” said Chris Bauer, AnchorBank’s Chief Executive Officer.
“We continue to focus on enhancing revenue growth and working to
improve the effectiveness and efficiency of our operating platform
given the growing and continuously-changing ways in which clients and
customers choose to do business with AnchorBank, while never losing
focus on delivering a great banking experience for our customers.”



“With the growth that our loan office in Richland Center was
experiencing we needed a full-service location in which to more
effectively serve the needs of our customers,” commented Gary Harrop,
president of The Peoples Community Bank. “We look forward to making
permanent our commitment to the Richland Center area.”



Edelman & Co., Ltd. served as financial advisor for The Peoples
Community Bank in the transaction.



About Anchor BanCorp Wisconsin Inc.



Anchor BanCorp’s stock is traded on the NASDAQ exchange under the
symbol ABCW. AnchorBank fsb, the wholly-owned subsidiary, has offices
located in Wisconsin.



For More Information



For more information, contact AnchorBank CEO Chris Bauer at (608)
252-1810.



Forward-Looking Statements