A savings and loan holding company, which is engaged in the savings and loan business through its wholly-owned banking subsidiary, AnchorBank, fsb.
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This is a classic example of a Savings and Loan that was acting like a bank and got burned in the process. The bank has removed S&L personnel, replaced them with bankers and is now a bank operating under a S&L charter. Unnecessary branches have been shed, portions of the loan portfolio have been sold and/or charged off and the institution is now in capital compliance. Oncer the TARP is repaid, this operation should be good to go.