More AMCORE Bank problems in the news.
Hampshire officials worry that a similar situation could develop in the next few weeks at two other subdivisions — the half-finished Lakewood Crossing north of Big Timber Road, and the barely-started Parkside at Prairie Ridge along the south side of Allen Road.
Village officials say Amcore Bank of Rockford took over Parkside a few months ago and then foreclosed on Lakewood Crossing in October. On Nov. 10, Amcore officials revealed that the U.S. Comptroller of the Currency had judged that Amcore doesn't have enough capital to be stable. The comptroller gave Amcore until Dec. 4
bank submitted a new plan for its reorganization before the Dec. 4 deadline and is awaiting a response from the banking regulators.
"While this is a confidential document between the bank and its regulator, we can tell you that it contains concrete action plans to restore capital and maintain liquidity
the bank is aggressively trying to sell the projects to another developer
Click on the following for more details: Hampshire officials worry about bank's future :: The Courier News :: Local News
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