AMCORE Financial, Inc., Announces Stock Repurchase Program

Apr 23, 2001, 01:00 ET from AMCORE Financial, Inc.

    ROCKFORD, Ill., April 23 /PRNewswire/ -- AMCORE Financial, Inc.,
 (Nasdaq: AMFI) announced today its Board of Directors has authorized the
 repurchase of up to five percent of its common stock, or 1.29 million shares.
     The transactions will be completed from time to time, depending on market
 conditions, through open market or privately negotiated purchases.  AMCORE
 currently has 25.8 million shares of common stock outstanding.
     The repurchased shares will become treasury shares and will be used for
 general corporate purposes, including the issuance of shares in connection
 with AMCORE's stock option plans and other employee benefit plans.
     The repurchase of up to five percent of its common stock is in addition to
 the 338,000 shares that remain outstanding from the 2000 repurchase
 authorization for a total of 1.63 million shares. Robert J. Meuleman, chairman
 and chief executive officer of AMCORE, said, "We believe the repurchase of our
 own shares will enable us to take advantage of an attractive investment
 opportunity given the current price level of our stock.  We feel this
 investment will be of benefit to both the Company and its stockholders and
 that this program demonstrates AMCORE's commitment to shareholder value."
     AMCORE Financial, Inc. is the bank distinguished by high performance asset
 management and the delivery of tailored products to business customers in
 selected high growth Midwestern markets.  The Company is headquartered in
 northern Illinois with investment assets under administration of $4.8 billion
 and banking assets of $4.2 billion with 65 locations in Illinois and
 Wisconsin.
     The company has two financial services companies: AMCORE Mortgage, Inc.
 and AMCORE Investment Group.  AMCORE Mortgage provides a variety of mortgage
 lending products and services to individuals.  AMCORE Investment Group
 provides the following services: trust, brokerage, investment management,
 mutual fund administration, employee benefit plan record keeping and is the
 investment advisor for the Vintage family of mutual funds.
 
     This news release contains certain forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995 with respect
 to the financial condition, results of operations, plans, objectives, future
 performance and business of AMCORE.  Statements that are not historical facts,
 including statements about beliefs and expectations, are forward-looking
 statements.  These statements are based upon beliefs and assumptions of
 AMCORE'S management and on information currently available to such management.
 The use of the words "believe", "expect", "anticipate", "plan", "estimate",
 "may", "will" or similar expressions are forward looking statements.  Forward-
 looking statements speak only as of the date they are made, and AMCORE
 undertakes no obligation to update publicly any of them in light of new
 information or future events.
 
     Contemplated, projected, forecasted or estimated results in such forward-
 looking statements involve certain inherent risks and uncertainties.  A number
 of factors - many of which are beyond the ability of the company to control or
 predict - could cause actual results to differ materially from those in its
 forward-looking statements.   These factors include, among others, the
 following possibilities: (I) heightened competition, including specifically
 the intensification of price competition, the entry of new competitors and the
 formation of new products by new and existing competitors; (II) adverse state
 and federal legislation and regulation; (III) failure to obtain new customers
 and retain existing customers; (IV) inability to carry out marketing and/or
 expansion plans; (V) loss of key executives or personnel; (VI) changes in
 interest rates including the effect of prepayment; (VII) general economic and
 business conditions which are less favorable than expected; (VIII) equity and
 fixed income market fluctuations; (IX) unanticipated changes in industry
 trends; (X) unanticipated changes in credit quality and risk factors; (XI)
 success in gaining regulatory approvals when required; (XII) changes in
 Federal Reserve Board monetary policies; (XIII) unexpected outcomes on
 existing or new litigation in which AMCORE, its subsidiaries, officers,
 directors or employees are named defendants; (XIV) technological changes; (XV)
 changes in accounting principles generally accepted in the United States of
 America; and (XVI) inability of third-party vendors to perform critical
 services to the company or its customers.
 
     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
 company's website at http://www.AMCORE.com and at www.VintageFunds.com .
 
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SOURCE AMCORE Financial, Inc.
    ROCKFORD, Ill., April 23 /PRNewswire/ -- AMCORE Financial, Inc.,
 (Nasdaq: AMFI) announced today its Board of Directors has authorized the
 repurchase of up to five percent of its common stock, or 1.29 million shares.
     The transactions will be completed from time to time, depending on market
 conditions, through open market or privately negotiated purchases.  AMCORE
 currently has 25.8 million shares of common stock outstanding.
     The repurchased shares will become treasury shares and will be used for
 general corporate purposes, including the issuance of shares in connection
 with AMCORE's stock option plans and other employee benefit plans.
     The repurchase of up to five percent of its common stock is in addition to
 the 338,000 shares that remain outstanding from the 2000 repurchase
 authorization for a total of 1.63 million shares. Robert J. Meuleman, chairman
 and chief executive officer of AMCORE, said, "We believe the repurchase of our
 own shares will enable us to take advantage of an attractive investment
 opportunity given the current price level of our stock.  We feel this
 investment will be of benefit to both the Company and its stockholders and
 that this program demonstrates AMCORE's commitment to shareholder value."
     AMCORE Financial, Inc. is the bank distinguished by high performance asset
 management and the delivery of tailored products to business customers in
 selected high growth Midwestern markets.  The Company is headquartered in
 northern Illinois with investment assets under administration of $4.8 billion
 and banking assets of $4.2 billion with 65 locations in Illinois and
 Wisconsin.
     The company has two financial services companies: AMCORE Mortgage, Inc.
 and AMCORE Investment Group.  AMCORE Mortgage provides a variety of mortgage
 lending products and services to individuals.  AMCORE Investment Group
 provides the following services: trust, brokerage, investment management,
 mutual fund administration, employee benefit plan record keeping and is the
 investment advisor for the Vintage family of mutual funds.
 
     This news release contains certain forward-looking statements within the
 meaning of the Private Securities Litigation Reform Act of 1995 with respect
 to the financial condition, results of operations, plans, objectives, future
 performance and business of AMCORE.  Statements that are not historical facts,
 including statements about beliefs and expectations, are forward-looking
 statements.  These statements are based upon beliefs and assumptions of
 AMCORE'S management and on information currently available to such management.
 The use of the words "believe", "expect", "anticipate", "plan", "estimate",
 "may", "will" or similar expressions are forward looking statements.  Forward-
 looking statements speak only as of the date they are made, and AMCORE
 undertakes no obligation to update publicly any of them in light of new
 information or future events.
 
     Contemplated, projected, forecasted or estimated results in such forward-
 looking statements involve certain inherent risks and uncertainties.  A number
 of factors - many of which are beyond the ability of the company to control or
 predict - could cause actual results to differ materially from those in its
 forward-looking statements.   These factors include, among others, the
 following possibilities: (I) heightened competition, including specifically
 the intensification of price competition, the entry of new competitors and the
 formation of new products by new and existing competitors; (II) adverse state
 and federal legislation and regulation; (III) failure to obtain new customers
 and retain existing customers; (IV) inability to carry out marketing and/or
 expansion plans; (V) loss of key executives or personnel; (VI) changes in
 interest rates including the effect of prepayment; (VII) general economic and
 business conditions which are less favorable than expected; (VIII) equity and
 fixed income market fluctuations; (IX) unanticipated changes in industry
 trends; (X) unanticipated changes in credit quality and risk factors; (XI)
 success in gaining regulatory approvals when required; (XII) changes in
 Federal Reserve Board monetary policies; (XIII) unexpected outcomes on
 existing or new litigation in which AMCORE, its subsidiaries, officers,
 directors or employees are named defendants; (XIV) technological changes; (XV)
 changes in accounting principles generally accepted in the United States of
 America; and (XVI) inability of third-party vendors to perform critical
 services to the company or its customers.
 
     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
 company's website at http://www.AMCORE.com and at www.VintageFunds.com .
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X77885584
 
 SOURCE  AMCORE Financial, Inc.