Rochester,NY 8/18/2009 11:40:17 PM
AMCORE Financial, Inc., AMFI - AMCORE Bank to Sale of Two Branches
AMCORE Financial, Inc.
AMCORE Bank, N.A., a subsidiary of AMCORE Financial, Inc., announced that it has made an agreement with First National Bank and Trust Company of Beloit, WI, to sell two branches located in the Wisconsin communities of Monroe and Argyle.
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The transaction includes approximately $70 million in loans, $140 million in deposits and sweep accounts, and up to $50 million in related trust accounts. The brokerage and 401(k) plan business are not part of the sale and will remain with AMCORE. The transaction, which is subject to regulatory and other customary closing conditions, is expected to close in the fourth quarter 2009. The financial terms of the transaction were not disclosed.
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