Anchor BanCorp Wisconsin, Inc.

Anchor BanCorp Wisconsin, Inc. operates as a financial institution providing banking services, including personal and commercial banking, investment services, and wealth management, primarily in the Midwest region of the United States. Founded in 1919 and headquartered in Madison, US, Anchor BanCorp Wisconsin, Inc. focuses on banking services.

In January 2016, the company agreed to a TRADE SALE to Old National Bank for USD 461 mn, which was completed in May 2016. The current CEOs are Antonio Villa, Eka Aneba, and Thomas Prame. Old National Bank offers a comprehensive range of financial products and services designed to meet the diverse needs of its clientele, including personal checking and savings accounts, certificates of deposit (CDs), mortgage and home equity loans, and small business banking solutions. Their core banking services are characterized by personalized customer service and competitive interest rates.

The bank targets consumers and small to medium-sized enterprises (SMEs) within the Midwest region of the United States, specifically in states such as Illinois, Indiana, Iowa, Kentucky, Michigan, Tennessee, and Wisconsin. Key offerings include ONB Everyday and Preferred Checking accounts, which facilitate everyday banking needs, and specialized loan products such as Market Monitor accounts that cater to consumers looking to earn competitive interest on substantial deposits. Additionally, Old National Bank emphasizes financial education and community engagement, aiming to enhance financial literacy among its customers. Old National Bank generates revenue through a combination of interest income from loans, fees for banking services, and charges associated with account maintenance.

The bank's transaction structure includes direct-to-consumer offerings, as seen in personal banking products, and B2B relationships through its commercial banking services. For instance, customers may open an ONB Everyday or Preferred Checking account with a minimum deposit, followed by earning cash bonuses through direct deposit activities, as well as accessing financial advisory services. The bank's revenue streams are further bolstered by its diverse array of loans, including personal mortgages and home equity lines of credit, typically structured with varying APRs that apply based on creditworthiness. In the wake of the TRADE SALE completed in May 2016, Old National Bank aims to leverage its acquisition of Anchor BanCorp Wisconsin, Inc.

to enhance its product offerings and service capabilities. Plans include the introduction of new financial products tailored to the needs of the Midwest market. Furthermore, the bank is considering expansion into additional states within the Midwest region and potentially beyond. The funding from the recent acquisition will be utilized to support these initiatives, ensuring adequate resources for product development and market penetration.