AMCORE Bank in Trouble

Real trouble, according to the Chicago Tribune this morning.

Riverside Square, AMCORE's white elephant on the corner of Routes 31 and 62.

The most visible indication of the problem is at the northeast corner of Routes 31 and 62.

The unfinished condo building seen from the east side of the Fox River.

I’m told Riverside Square is supposed to be finished in brick, but from across the river, white looks fine. Its image reflects from the Fox River when it isn’t frozen.

AMCORE is a Rockford-based bank that has bought up a number of community banks in McHenry County, including the First National Bank of Woodstock, where I started banking thirty-some years ago.

It was heavily invested in real estate and, when the bubble burst, it financial stability started leaking as well.

Several people I know have been laid off as a result of its downturn in fortunes.


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