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Regulators Reject Amcore Plan
Posted on November 10th, 2009 No commentsFederal regulators have rejected Amcore Financial’s plans to strengthen its finances and have given the Rockford bank one month to raise money or prepare to merge or be sold, the Wisconsin State Journal reported.
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Anchor Requests More Time for Financials
Posted on November 10th, 2009 No commentsAnchor BanCorp Wisconsin asked for five more days to file its financial report for the quarter ending Sept. 30. Declines in real estate values have made the calculations more difficult, Anchor said in the filing, the Wisconsin State Journal reported.
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Associated Must Improve Risk Management, Capital
Posted on November 10th, 2009 No commentsAssociated Banc-Corp revealed details of a memorandum of understanding in a regulatory filing in a Milwaukee Journal Sentinel article. Associated Bank will be required to improve risk management of its loan portfolio and maintain capital at higher-than-normal levels. Shares of Associated dropped more than 14 percent the day after the news was released, making it likely the bank’s quarterly dividend will be cut from 5 cents to 1 cent per share. Read that article in the Journal Sentinel.