(GLOBE NEWSWIRE) – Anchor Bancorp (Nasdaq:ANCB) (“Company”), the holding company for Anchor Bank (“Bank”), announced the termination of the Supervisory Directive that the Bank had entered into with the Washington Department of Financial Institutions (“DFI”) on September 4, 2012. The termination of the Supervisory Directive was effective on November 20, 2014.
“We are very pleased that our regulators have acknowledged the significant improvements at the Bank” said Jerald L. Shaw, President and Chief Executive Officer of the Bank and the Company. “Although, we are still working to establish a sustainable level of profitability while continuing to make improvements in asset quality, we believe the steps we have taken since the Supervisory Directive was issued will help us to reach these goals. I would like to thank the entire team at the Bank for its dedication and commitment that has enabled us to attain this important milestone.”