Anchor BanCorp Wisconsin Inc. in Madison has bought itself more time from its lender.
The struggling, $4.6 billion-asset company announced late Monday that U.S. Bancorp had agreed to put off for a year the due date on a $116.3 million loan. Without the extension, the loan would have come due at the end of May. No principal payment is due before the later maturity date.
U.S. Bancorp also extended the line of credit's maturity in May 2009 as Anchor warned it lacked the cash to repay.