- Associated Press - Friday, May 20, 2016

MADISON, Wis. (AP) - The new owner of AnchorBank is cutting 140 employees, nearly all of them at Madison locations.

The Wisconsin State Journal reports (https://bit.ly/255l3lj ) the cuts amount to about 25 percent of employment at the Madison bank.

Old National Bank of Evansville, Indiana, bought Anchor on May 1 in a $462.6 million cash and stock transaction. Job cuts were expected but weren’t detailed until Thursday.

Old National said most of the positions will end Sept. 30, with the remaining jobs disappearing in 2017.

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Information from: Wisconsin State Journal, https://www.madison.com/wsj


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