An unnamed investor will inject $5.5 million into the troubled Anchor Commercial Bank in North Palm Beach, Fla., through a subscription agreement.
The $116 million-asset company is hoping to raise an additional $2.5 million as part of a rights offering, the
The Federal Reserve Board issued a prompt corrective action against Anchor in October 2011 that
At June 30, Anchor's noncurrent loans totaled almost 20% of its total loans, and its core capital (leverage) ratio was roughly 2%, according to the Federal Deposit Insurance Corp.