Anchor Bancorp (ANCB) Approves 77.5K Buyback

Anchor Bancorp (NASDAQ: ANCB), the holding company for Anchor Bank (“Bank”), today announced that its Board of Directors has authorized the repurchase of up to 77,500 shares of the Company’s common stock. The stock repurchase program follows the Company’s completion of a repurchase program in 2015 and its repurchase of 50,000 shares. In connection with the additional stock repurchase plan, the Company’s Board of Directors also adopted a pre-arranged stock trading plan for the purpose of repurchasing shares of the Company’s common stock in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934. Repurchases under the Company’s 10b5-1 plan will be administered through an independent broker. Repurchases are subject to the requirements of the Securities and Exchange Commission as well as certain price, market volume and timing constraints specified in the plan.

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