COMPANY AND FORMER CFO CHARGED BY SEC WITH FRAUD

FROM:  U.S. SECURITIES AND EXCHANGE COMMISSION 
Commission Charges Anchor Bancorp Wisconsin and Former CFO with Fraud

The Securities and Exchange Commission announced today that it filed a settled civil action in the United States District Court for the District of Columbia against Anchor Bancorp Wisconsin, Inc. (Anchor) and Dale C. Ringgenberg, Anchor's former Chief Financial Officer. The Commission's complaint alleged, among other things, that Anchor and Ringgenberg intentionally or recklessly made material misstatements in Anchor's quarterly Report on Form 10 Q for the period ended June 30, 2009.

The Commission's complaint alleges that Ringgenberg took, or failed to take, actions to keep from having to correct earnings that Anchor had already released to its shareholders. Ringgenberg manipulated an estimate to offset an accounting adjustment required by Anchor's external auditors, and he refused or failed to properly account for real estate appraisals and related information that was available after the quarter closed but before Anchor filed its quarterly report.

Without admitting or denying the allegations in the Commission's complaint, Anchor agreed to settle the action against it by consenting to the entry of a final judgment permanently enjoining it from violating Sections 10(b), 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Securities Exchange Act of 1934 (Exchange Act) and Rules 10b-5 and 13a-13 thereunder. Ringgenberg agreed to consent, without admitting or denying the allegations in the Commission's complaint, to the entry of a final judgment: (1) permanently enjoining him from violating Section 10(b) of the Exchange Act and Exchange Act Rules 10b-5, 13a 14, 13b2 1, and 13b2-2(a) and from aiding and abetting violations of Exchange Act Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) and Rule 13a-13 thereunder; (2) imposing a civil penalty of $75,000; and (3) barring him from serving as an officer or director of a public company for five years. The settlement is subject to the approval of the district court.

The Commission acknowledges the assistance and cooperation of the Special Inspector General for the Troubled Asset Relief Program, the Office of the United States Attorney for the Western District of Wisconsin, and the Madison, Wisconsin Office of the Federal Bureau of Investigation.