I like this from Dec 1st, indicates to me that there is value in ABCW IMO.
Dec 01, 2011 (The Wisconsin State Journal - McClatchy-Tribune Information Services via COMTEX) -- Madison-based Anchor BanCorp Wisconsin, parent of AnchorBank, will have more time to pay back a hefty debt to a group of banks, headed by U.S. Bank.
The $116.3 million loan and $31.7 million in interest and fees were supposed to be paid off Wednesday, but the banks have agreed to a one-year extension, to Nov. 30, 2012.
"We think receiving a full-year extension of our line of credit with U.S. Bank, when our last extension was for six months, represents a positive development," said Chris Bauer, Anchor president and chief executive officer, in an emailed statement. "It demonstrates the bank group recognizes our continued efforts with respect to seeking external capital, but underscores that additional time is necessary in the current environment for raising capital."
This is the fifth extension of the loan, which carries a 15 percent interest rate.
I DON'T LIKE THE 15% INTEREST - BUT IF US BANK IS WILLING TO GIVE THEM ANOTHER YEAR instead of just putting them into default I like the odds of them pulling out of the funk.
I'm a Gambler not an advisor
Now excuse me, I gotta check on a horse
