AMCORE also establishes a benefit account to aid Red Cross relief efforts
AMCORE Bank, N.A. is participating in a disaster recovery program with the State of Illinois to aid Rockford-area flood victims in the aftermath of the Labor Day storms. In addition, AMCORE has set up a benefit account to aid the American Red Cross in its Rockford relief efforts.
These are people in our community who need our help and we want to do what we can to help them recover from this unexpected disaster, said Steve Ward, Regional Market President. Many of the areas hardest hit were in our neighborhood. AMCORE will make a $1,000 donation to start the American Red Cross Labor Day Flood Fund.
State Treasurer Judy Baar Topinka has pledged $1 million in low-interest loans through local financial institutions. AMCORE will offer one-year loans to flood victims in Winnebago County at a rate of 6.25 percent, subject to change based on State of Illinois deposit rates. During the one-year term of the loan, the borrower will make interest payments, with the principal coming due at the end of the term. The deadline to apply for this low-interest loan is Dec. 4, 2006, which is 90 days from the disaster declaration date of Sept. 5. The applicant must live in the designated disaster area of Winnebago County.
Applicants will need to qualify for creditworthiness using AMCOREs normal underwriting criteria. In addition to the normal loan application process, the state requires customers to complete an acknowledgement that the use of funds is for disaster recovery purposes.
Applications for disaster recovery loans and deposits to the American Red Cross Labor Day Flood Fund may be made at any AMCORE Bank location.
AMCORE Financial, Inc., is headquartered in northern Illinois and has banking assets of $5.4 billion with 76 locations in Illinois and Wisconsin. AMCORE provides a full range of consumer and commercial banking services, a variety of mortgage lending products and wealth management services, including trust, brokerage, investment management and comprehensive retirement plan services.
AMCORE common stock is listed on The NASDAQ Stock Market under the symbol AMFI. Further information about AMCORE Financial, Inc., can be found at the companys Web site at www.AMCORE.com.
From the Sept. 13-19, 2006, issue