Bank's Move Reinforces Commitment to Ensuring Loan Credit Quality

MADISON, Wis., Aug. 6, 2009 (GLOBE NEWSWIRE) -- As part of an ongoing effort to ensure the highest standard of credit quality in every loan it makes, AnchorBank, fsb has appointed Martha M. Hayes to the position of Chief Risk Officer, effective immediately. In this role, Hayes will deal with quality management, analysis and monitoring of AnchorBank's loan portfolios.

"Martha is familiar with the intricacies of AnchorBank's lending operations through her experience as a consultant for our organization. In her new role she brings dynamic leadership and a heightened level of oversight to our lending process," said AnchorBank President and Chief Operating Officer Mark Timmerman. "Martha's job is to carefully examine our loan assets and identify leverage points critical to improving performance."

Hayes joins the bank from Merrill Lynch Business Financial Services in Chicago, where she served as President and Managing Director. While there, she was recognized for leading the turnaround of a $250 million revenue line of business for the company. Prior to that role, she served in a variety of related capacities for Wachovia Corporation, including Senior Vice President and Director of Commercial Loan Products and Chief Operating Officer for Wachovia's Risk Management Division, Business Credit Solutions.

As Chief Risk Officer, Hayes will report directly to new AnchorBank CEO Chris Bauer. "The Chief Risk Officer function was born out of the bank's commitment to reinforce our commercial loan process to provide for stricter controls and monitoring," said Bauer. "Martha is an expert in improving the Risk Management practices of an organization, and we are confident she will help achieve great strides toward improving overall loan portfolio quality for AnchorBank."

About AnchorBank:

Founded in 1919, AnchorBank is one of the state's largest financial institutions with more than 70 locations throughout Wisconsin. AnchorBank, fsb is a wholly-owned subsidiary of Anchor BanCorp Wisconsin, Inc. Anchor BanCorp's stock is traded on the over-the-counter market under the NASDAQ symbol ABCW. More information about AnchorBank is available online at www.anchorbank.com.

CONTACT:  Anchor BanCorp Wisconsin Inc.
          Liz Boelter, Public Relations Mgr.
          (608) 252-8708