Wisconsin-based AnchorBank will continue operation of The Times and Rosebud Cinemas beginning March 1.

The bank has appointed former Rosebud owner Jay Hollis to manage both theaters throughout receivership.

"Continuing operation with the original visionary means patrons can look forward to the same quality experience they've come to expect at both theaters," Byron Butler, SVP-Marketing at AnchorBank, said in a statement released this afternoon.

Current owners David Glazer and Larry Widen relinquish ownership at the end of the month.