AnchorBank

Overview: AnchorBank was a prominent community bank headquartered in Madison, Wisconsin, with a history dating back to its founding in 1919. The bank grew to become one of the largest savings banks in Wisconsin, serving both retail and commercial clients with a broad range of financial products and services. AnchorBank was known for its strong local presence and commitment to community banking, operating dozens of branches across the state at its peak.

Products: AnchorBank offered a comprehensive suite of financial products, including personal and business checking and savings accounts, mortgage lending, commercial real estate loans, construction financing, home equity lines of credit, and investment services. The bank also provided online and mobile banking platforms, cash management solutions for businesses, and specialized lending for real estate developers and investors. Its commercial real estate division was particularly active in financing retail, office, and multifamily projects throughout Wisconsin.

Market Position: At its height, AnchorBank was the third-largest savings bank in Wisconsin, with assets exceeding $2 billion and a network of over 50 branches. The bank was recognized for its deep roots in the Madison and Milwaukee metropolitan areas, as well as its focus on personalized service for both individual and business clients. AnchorBank’s strong market position made it a key player in the state’s financial sector, especially in commercial real estate lending.

Growth: AnchorBank experienced significant growth throughout the late 20th and early 21st centuries, expanding its branch network and product offerings. However, the bank faced challenges during the 2008 financial crisis, which led to financial difficulties and regulatory scrutiny. In 2016, AnchorBank was acquired by Old National Bancorp in a $461 million deal, marking the end of its independent operations. The acquisition was driven by the need for greater scale and stability, and it allowed Old National to expand its footprint in Wisconsin.

Real Estate: AnchorBank’s real estate division played a crucial role in the bank’s business model, providing financing for a wide range of commercial and residential projects. The bank was known for its expertise in construction and development loans, as well as its willingness to work with local developers and property owners. After the acquisition by Old National, many of AnchorBank’s real estate professionals and client relationships were integrated into the larger organization, ensuring continuity for existing clients and ongoing support for the Wisconsin real estate market.