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Article: END COULD BE NEAR FOR AMCORE BANK?(BUSINESS)
- Article from:
- The Capital Times
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mike Ivey mivey@madison.com
The end may be near for Rockford-based Amcore Bank.
Federal regulators have rejected Amcore Financial Inc.'s plan to raise capital, giving the troubled lender a month to raise the needed money or sell, according to a report in Crain's ChicagoBusiness.com.
Amcore -- which has nine branches in the Madison area -- has until Dec. 4 to submit a new plan to the U.S. Office of the Comptroller of the Currency under "prompt corrective action" guidelines that are one of the last formal steps regulators ...