The Federal Deposit Insurance Corp. announced Friday that a 2009 cease-and-desist order against Aberdeen-based Anchor Bank had been lifted.
The bank, formerly known as Anchor Mutual Savings Bank, recently converted from a mutual group to a stockholder-held organization. The stock offering was conducted through a syndicate of broker-dealers managed by Keefe Bruyette & Woods, Inc.
The Aberdeen World reported in 2010 that under the order, “Anchor Bank was ordered to raise capital to meet the minimum capital requirements of 10 percent or better. Selling stock was determined to be the best way to make that possible.”
The bank operates 13 locations, primarily, in Southwest Washington, with one branch in Pierce County.