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AnchorBank celebrates 90th anniversary

AnchorBank announces that it was this month in 1919 that the bank opened its first office on the Capitol Square in Madison.

What began 90 years ago with one desk, one chair and one part-time employee has grown today into the state's fourth-largest financial institution that has helped thousands of Wisconsinites grow their nest egg, charter their financial future or realize the dream of home ownership.

AnchorBank is marking its 90th anniversary with a commemorative Web site that can be viewed at: The site explores the bank's evolution and celebrates the employees and customers who have been a part of the AnchorBank legacy. The bank has planned a series of anniversary open houses to take place at many of its branches throughout the course of the year.

During its first eight years of business, AnchorBank invested $3 million in the construction of 600 Madison-area homes at an average cost of $5,000. When the Great Depression hit home in the 1930s and construction in Madison came to a virtual standstill, AnchorBank fought tooth and nail to help people hang on to their homes despite tough economic times. In 1964, the bank moved into its new modern building that still anchors the southwest corner of the Capitol Square today, and later that decade, AnchorBank opened the first full-service savings and loan branch in Dane County.

Since becoming a public company in 1992, the bank has continued to grow and expand to include the 76 locations that dot the Wisconsin landscape today, including New Richmond.

"We have stood by our customers and our communities for the past 90 years through good times and bad, and as our economy once again faces challenging times, this commitment is perhaps more important today than ever," said AnchorBank President and CEO Mark Timmerman. "We want to take this opportunity to thank our customers and recognize the many dedicated people and their hard work and strong values that have kept AnchorBank's vision of outstanding customer service in clear sight over the past 90 years."