UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
report (Date of earliest event reported)
April 27,
2009
(Exact
Name of Registrant as Specified in Its Charter)
(State or
Other Jurisdiction of Incorporation)
|
0-13393
|
36-3183870
|
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
501
Seventh Street, Rockford, Illinois
|
61104
|
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
(Registrant's
Telephone Number, Including Area Code)
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (
see
General
Instruction A.2. below):
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
ITEM
2.02 Results of Operations and Financial Condition
AMCORE
Financial, Inc. (the "Company") is furnishing herewith, in the earnings press
release dated April 27, 2009 attached hereto as Exhibit 99.1 (the "Press
Release"), certain financial information for the period ended March 31, 2009,
which is incorporated by reference to Item 2.02 of this Current Report on Form
8-K.
ITEM
2.05 Costs Associated with Exit or Disposal Activities
On April
27, 2009, the Company announced several strategic cost reduction measures that
better align the Company's operations and cost structure to the realities of
today's marketplace. These actions include a reduction of five
percent in executive pay and a nine percent reduction of its work force,
resulting in an estimated $20 million in annualized cost savings. The
reduction in workforce includes the elimination of 116 positions, including that
of Donald H. Wilson, President and Chief Operating Officer, and Richard E.
Stiles, Executive Vice President, Commercial Banking Group. Estimated
charges due to the restructuring are expected to be $2.0 million in the second
quarter 2009.
ITEM
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On April
27, 2009, the Company announced that Donald H. Wilson, President and Chief
Operating Officer, and Richard E. Stiles, Executive Vice President Commercial
Banking Group, will depart the Company in connection with the restructuring
described in the Press Release.
ITEM
7.01. Regulation FD
In
connection with the Press Release, the Company is posting to its website,
www.AMCORE.com, certain loan and investment portfolio information primarily
relating to the Company's commercial real estate portfolio and investment
portfolio information for the period ended March 31, 2009, which is incorporated
by reference into Item 7.01 of this Current Report on Form 8-K.
ITEM
8.01 Other Events
In the
Press Release, the Company also announced a corporate restructuring. The Company
hereby incorporates such information by reference into Item 8.01 of this Current
Report on Form 8-K.
ITEM
9.01. Financial Statements and Exhibits
(d)
Exhibits
|
Exhibit No.
|
Description
|
|
|
|
|
99.1
|
Press
Release, dated April 27, 2009.
|
|
|
|
|
99.2
|
AMCORE
Loan and Investment Portfolio information as of March 31,
2009.
|
The
portion of the press release incorporated by reference into Item 8.01 of this
Current Report on Form 8-K is being filed pursuant to Item 8.01. In
accordance with General Instruction B.2. to Form 8-K, the remaining portion of
the press release is being furnished and shall not be deemed "filed" under the
Securities Exchange Act of 1934, as amended, nor shall it be incorporated by
reference into future filings by the Company under the Securities Act of 1933,
as amended, or under the Securities Exchange Act of 1934, as amended, unless the
Company expressly sets forth in such future filing that such information is to
be considered "filed" or incorporated by reference therein.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
Date:
April 28,
2009 AMCORE
Financial, Inc.
(Registrant)
/s/ Judith Carré
Sutfin
Judith Carré Sutfin
Executive Vice President and Chief
Financial Officer,
(Duly authorized officer of the
registrant
and
principal financial officer)
EXHIBIT
INDEX
|
Exhibit No.
|
Description
|
|
|
|
|
99.1
|
Press
Release, dated April 27, 2009.
|
|
|
|
|
99.2
|
AMCORE
Loan and Investment Portfolio information as of March 31,
2009.
|