April 23, 2010 – 4:00 pm

Amcore Bank, National Association, Rockford, Illinois,was next as regulators shuttered the ailing bank tonight. Amcore Bank, was the 51st closed by the FDIC in 2010 at an estimated hit of 220.3 million to the agency’s Deposit Insurance Fund (DIF) .

Amcore Bank, National Association, Rockford, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Harris National Association, Chicago, Illinois, to assume all of the deposits of Amcore Bank, National Association.

The 58 branches of Amcore Bank, National Association will reopen on Saturday as branches of Harris National Association. Depositors of Amcore Bank, National Association will automatically become depositors of Harris National Association. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branch until they receive notice from Harris National Association that it has completed systems changes to allow other Harris National Association branches to process their accounts as well.

This evening and over the weekend, depositors of Amcore Bank, National Association can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of December 31, 2009, Amcore Bank, National Association had approximately $3.8 billion in total assets and $3.4 billion in total deposits. Harris National Association will pay the FDIC a premium of 0.01 percent to assume all of the deposits of Amcore Bank, National Association. In addition to assuming all of the deposits of the failed bank, Harris National Association agreed to purchase essentially all of the assets.

The FDIC and Harris National Association entered into a loss-share transaction on $2.0 billion of Amcore Bank, National Association’s assets. Harris National Association will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today’s transaction can call the FDIC toll-free at 1-800-591-2767. The phone number will be operational this evening until 9:00 p.m., Central Daylight Time (CDT); on Saturday from 9:00 a.m. to 6:00 p.m., CDT; on Sunday from noon to 6:00 p.m., CDT; and thereafter from 8:00 a.m. to 8:00 p.m., CDT.

Interested parties also can visit the FDIC’s Web site for Amcore Bank.