Mitral valve prolapse and mitral regurgitation can be treating by implanting in the mitral annulus a transvalvular intraannular band (50). The band (50) has a first end (58), a first anchoring portion located proximate the first end (58), a second end (60), a second anchoring portion located proximate the second end (60), and a central portion (64). The central portion (64) is positioned so that it extends transversely across a coaptive edge formed by the closure of the mitral valve leaflets. The band (50) may be implanted via translumenal access or via thoracotomy.