Anchor Bancorp (ANCB) in Lacey, Wash., is facing pressure from an activist investor to sell itself.

Joel Lawson 4th, who has a 5.1% stake in Anchor, said in a regulatory filing late last week that he plans to submit a proposal at the $391 million-asset company's annual meeting that is "likely to recommend" that the board consider hiring an investment bank to find potential acquirers.

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