MADISON, Wis. - The board of Anchor BanCorp Wisconsin Inc. authorized the company to buy back up to 5% of its outstanding common stock, or 256,534 shares.

Anchor BanCorp said it expects the repurchases to begin on or after Dec. 31. The buybacks are authorized to be made from time to time in open-market transactions in the following six months.

The repurchased shares will be held as treasury stock and will be available for general corporate purposes.

Anchor will use various securities brokers as its agent for the stock repurchase program.

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