Anchor Bank Announces Receipt Of Regulatory Approval For Distribution To Anchor Bancorp

Anchor Bancorp

("Company"), the holding company for Anchor Bank ("Bank"), announced that Anchor Bank had received regulatory approval for the payment of a $350,000 dividend from the Bank to the Company. This payment will be used to support the Company's ongoing operations. "This is a very important first step in the implementation of our capital management strategies. It reflects the progress we have made in improving Anchor's financial condition as reflected in the Bank's capital position and we hope to be able to build on this in the future," stated Jerald L. Shaw, President and Chief Executive Officer of the Company and Anchor Bank.