Amcore to sell 2 more bank branches in

WI
Troubled lender Amcore Financial said its Amcore Bank unit will sell 2 branches, its 2nd in a span of less than 10 days, to Union Bank & Trust Co of Evansville, WI, to improve profitability. Rockford, IL-based Amcore said sale of the branches located in WI communities of New Glarus & Belleville will include $21M in loans & $36M in deposits. It said the transaction is expected to close in the 4th-Q but did not reveal its terms. On Aug. 12, Amcore said the unit sold 2 branches in WI, with $70M loans, $140M in deposits & $50M in trust accounts, to First National Bank & Trust Co of Beloit. Earlier this month, Amcore said its lender JPMorgan Chase gave it a waiver & extension of maturity on a $20M credit facility. Amcore was in technical default under the credit agreement but current in its payments due. Amcore, which reported a sixth straight quarterly loss last month, said in June it agreed with regs to develop capital-raising plans & to revise & maintain a liquidity risk management program. Union Bank & Trust, with banking assets of $143M, said its family of banks include Bank of Brooklyn, The Bank of Belleville, The Bank of OE, & UB&T-New Glarus. Amcore shares were up 4