From The La Salle NewsTribune | A building that housed one of the branches of failed bank Amcore is up for bids. The sale is being handled by CB Richard Ellis, and the building, located in Peru, Ill., is being sold by sealed bids due March 9.
Amcore
Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
Chicago area home to 3 of 20 biggest bankruptcies
In this photo from 2002, a Blockbuster sits across from the Corus Bank building at the intersection of Irving Park, Damen and Lincoln Ave. in Chicago's North Center neighborhood. (Handout)
The Chicago area was home to three of the nation’s 20 biggest bankruptcies in 2010, a roundup by BankruptcyData.com shows.
Measured by assets owned before filing for bankruptcy, Chicago-based Corus Bankshares Inc., owner of failed Corus Bank, ranked second, with $8.35 billion in pre-petition assets.
Ranked sixth was Rockford-based Amcore Financial Inc., with $3.8 billion in pre-petition assets. Get the full story »
Amcore, Harris, other Illinois banks tapped TAF
Harris Bank on LaSalle Street. (Phil Velasquez/Chicago Tribune)
About two dozen Illinois banks, including failed Amcore Bank and the parent of foreign-owned Harris Bank, tapped a Federal Reserve program that increased the amount of liquidity available to lenders during the financial crisis.
The Fed’s Term Auction Facility was established in December 2007, shortly after the first signs of the financial crisis began appearing.
Under the new Dodd-Frank Wall Street Reform & Consumer Protection Act of 2010, the Fed was required to make more details available on the more than 21,000 transactions in TAF and other programs intended to stabilize markets during the financial crisis, and to help get credit flowing again in hopes that the economy would recover and jobs would be created. Get the full story »
Oct. 25, 2010 at 6:01 p.m.
Comments Off
Filed under: Bank failures, Banking, Commercial real estate, Government, Real estate Harris decides not to buy Amcore’s Rockford HQ
WIFR.com | Harris Bank has taken a pass on Amcore’s Rockford headquarters, leaving the FDIC holding the seven-story building.
Amcore Financial files for Chapter 11 bankruptcy
Troubled lender Amcore Financial Inc AMFI.PK filed for bankruptcy protection on Thursday to liquidate its assets, it said in a filing.
Amcore Financial, which has been in talks with its largest stakeholders, intends to file a plan of liquidation by August 24 and continues to operate its business as a debtor-in-possession, it said in a filing with the U.S. Securities and Exchange Commission. Get the full story »
June 24, 2010 at 11:52 a.m.
Comments Off
Filed under: Bank failures, Banking, Jobs/employment, Layoffs Harris Bank to cut some Amcore branches, jobs
From WREX TV | Harris Bank, which took over Amcore Bank on April 23, 2010, announced plans to close 18 former Amcore branches and eliminate jobs as part of its buyout reorganization.
