SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
November 29, 2011
Date of Report (Date of earliest event reported)
Anchor BanCorp Wisconsin Inc.
(Exact Name of Registrant as Specified in its Charter)
Wisconsin
(State or Other Jurisdiction of Incorporation)
| | |
| 001-34955 | | 391726871 |
(Commission File Number) | | (IRS Employer Identification No.) |
25 West Main Street, Madison, Wisconsin 57303
(Address of Principal Executive Office) (Zip Code)
800-252-8982
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement.
On November 29, 2011, Anchor BanCorp Wisconsin Inc. (the “Company”) entered into Amendment No. 8 (the “Amendment”) to the Amended and Restated Credit Agreement, dated as of June 9, 2008 (the “Credit Agreement”), among the Company, the lenders from time to time a party thereto (the “Lenders”), and U.S. Bank National Association, as administrative agent for such lenders (the “Agent”).
The Amendment provides the following:
| | • | | The maturity date of the Credit Agreement is November 30, 2012 (“Maturity Date”). |
| | • | | The outstanding balance under the Credit Agreement from time to time shall bear interest at a rate equal to 15.0% per annum. |
| | • | | An amendment fee in an amount equal to 1.50% of the outstanding principal amount is due on the earlier of (i) the Maturity Date or (ii) the date on which the Company’s obligations and liabilities are due or declared due. |
| | • | | AnchorBank, fsb, the Company’s wholly-owned subsidiary, shall maintain the following financial covenants: |
| | • | | a Tier 1 Leverage Ratio of not less than 3.70% at all times. |
| | • | | a Total Risk Based Capital Ratio of not less than 7.50% at all times. |
| | • | | the ratio of Non-Performing Loans to Gross Loans shall not exceed 15.00% at all times. |
The outstanding principal amount under the Credit Agreement as of November 29, 2011 was $116.3 million. The Credit Agreement and the Amendment also contain customary representations, warranties, conditions, indemnification and events of default for agreements of such type.
The description above is a summary of the terms of the Amendment. This description does not purport to be complete and it is qualified in its entirety by reference to the Amendment, a copy of which is attached to this report as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.1 Amendment No. 8, dated as of November 29, 2011, to the Amended and Restated Credit Agreement, dated as of June 9, 2008.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | | |
| | Company Name |
| |
Date: November 30, 2011 | | By: /s/ Mark D. Timmerman |
| | | | Executive Vice President, Secretary |
| | | | and General Counsel |
EXHIBIT TABLE
| | | | |
| Exhibit | | Description |
10.1 | | Amendment No. 8, dated as of November 29, 2011, to the Amended and Restated Credit Agreement, dated as of June 9, 2008. |
