Anchor BanCorp Wisconsin Inc. has joined the list of state banks receiving cash infusions from the federal government, with the Madison-based firm getting $110 million in exchange for preferred stock.

At the same time, Anchor said it has suspended its dividend and frozen pay and hiring. Anchor had cut its quarterly dividend in July from 18 cents a share to 10 cents.

Anchor, the state's fourth-largest bank, said it will use the money from the U.S. Treasury for lending and to strengthen its capital position. The bank also issued a warrant to the Treasury to buy up to 7,399,103 shares of Anchor common stock at $2.23 a share and recognized a noncash goodwill impairment charge of $72.2 million.

After Monday's announcement, Anchor stock closed at $2.03, up one cent.

Other Wisconsin banks that have received money from the federal government's Troubled Asset Relief Program include Milwaukee's Marshall & Ilsley Corp., $1.7 billion; Green Bay's Associated Banc- Corp, $525 million; Green Bay's Nicolet National Bank, $15 million; and the parent companies of The Baraboo National Bank, $20.7 million, and Manitowoc's Bank First National, $12 million.

M&I and Associated are the two largest banks based in Wisconsin, respectively.

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