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Harris Paid $245M for Amcore
Posted on September 3rd, 2010 No commentsAmcore Bank branches will soon unveil their new Harris Bank signs. The Chicago-based Harris, the U.S. arm of Bank of Montreal, paid $244.9 million for $2.5 billion in assets of Amcore Bank, Rockford, Ill., according to documents obtained from the Federal Deposit Insurance Corp., the Business Journal of Milwaukee reported.
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Amcore Files for Chapter 11 Bankruptcy
Posted on August 20th, 2010 No commentsAmcore Financial, parent company of the former Amcore Bank, of Rockford, Ill., filed for Chapter 11 bankruptcy, according to papers filed with federal regulators. The voluntary petition seeks permission to liquidate assets. Read the Wisconsin State Journal article.
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Harris to Close 16 Amcore Branches
Posted on June 24th, 2010 No commentsHarris Bank says it will close 16 of the Amcore Bank branches the company took over in April, including one in Madison on the Capitol Square. A branch in Waukesha is the only other Wisconsin location affected. The closings will take effect Sept. 17, the Wisconsin State Journal reported.
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Answers Provided to Amcore Shareholders
Posted on April 30th, 2010 No commentsShares of stock in the parent company of Chicago’s Harris Bank have hit near-record levels in the past week, but stockholders of Amcore Financial won’t see the benefits, according to a Q&A on the subject in the Wisconsin State Journal.
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FDIC Closes Amcore; Reopens as Harris Bank
Posted on April 24th, 2010 No commentsThe federal Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver, closed Amcore Bank on April 23. The FDIC entered into a purchase and assumption agreement with Harris National Association, Chicago, to assume all of the deposits of Amcore Bank. Read the stories in the Business Journal of Milwaukee, the Milwaukee Journal Sentinel and the Wisconsin State Journal.
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UW Credit Union Opens 3rd Milwaukee Branch
Posted on April 8th, 2010 No commentsUW Credit Union is opening a branch in the former Amcore Bank building in Wauwatosa. The The full-service location at 2365 N. Mayfair Road will become UW Credit Union’s third Milwaukee-area branch, the Business Journal of Milwaukee reported.
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FDIC Seeking Bidders for Amcore
Posted on March 12th, 2010 No commentsThe Federal Deposit Insurance Corp. is seeking bids from healthy banks to buy Rockford, Ill.-based Amcore Bank and maybe a half-dozen other struggling Chicago-area financial institutions. Read more in the Business Journal of Milwaukee.
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Amcore Reports Smaller Q4 Loss
Posted on February 2nd, 2010 No commentsAmcore Financial Inc., a Rockford, Ill.-based bank holding company that sold four of its Wisconsin branches in 2009 to help shore up its capital position, reported a smaller net loss for the fourth quarter of 2009, the Business Journal of Milwaukee reported.
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Regulators Reject Amcore Plan
Posted on January 13th, 2010 No commentsThe Office of the Comptroller of the Currency has rejected Rockford, Ill.-based Amcore Bank’s revised plan to shore up its capital structure, the Wisconsin State Journal reported.
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Amcore Reaches Agreement With Lender
Posted on December 18th, 2009 No commentsRockford, Ill.-based Amcore Financial, parent of Amcore Bank, announced an agreement with its lender, JP Morgan Chase Bank, on a $20 million loan, the Wisconsin State Journal reported.