Anchor BanCorp in Madison, Wis., said it has won approval to participate in the Treasury Department's Capital Purchase Program and is slated to receive $110 million.

Douglas Timmerman, Anchor's chairman, president, and chief executive, said in a press release late Friday that the $4.9 billion-asset company is already viewed as well capitalized, and that the addition of government funds "will further enhance our position in this challenging economic environment."

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