Amcore Financial, Inc. (fka AMFIQ)

[monda2frida]

AMFIQ Amcore Financial, Inc. Common Stock 6/28/2011 100 On the Effective Date, the Old Equity Interests will be cancelled and the Holders of Old Equity shall not receive nor retain any distribution on account of such Old Equity Interests **

[Pathfinder85]

a person I follow regularly alerted me to this one.... for the price, there's some real potential here considering the tax adjustment

[Seattle20]

looks like a little up and down today...

So, what is the speculation on this? Will it jump before it crashes?

I am fairly new to watching "down and out" companies... however i was watching the "old CITADEL" stock when it jumped from the long run of like 3 cents up to whatever it jumped to before it went away...

I am slightly familiar with WAMUQ and its motion...

So how does this(amfi) compare to anything else?

[Seattle20]

What is with the little jump today?

[wehrsy]

I know we are most likely screwed with this stock- but looking at the trades today- why would anyone sell 100 to 1000 shares at a penny? at least roll the dice. what are you going to do with that whopping $10.00 to $100.00

[FunMune]

Like I said small fish in a big pond. Think I'll take my toys and go home, I don't want to play anymore. Thank you for answering my question.

[Value_Investor]

Why do you care about it if you only own 1500 shares which worth $22
only? 0.36 is the best price you can expect even it has very small
possibility because the 52-week low is 0.01 now. I own 1M+ shares at
0.02x average price and expect to sell them at 0.03 ~ 0.05 to profit

[FunMune]

O.K., question. I have held 1,500 shares of this longer than I should have. Lets just say I'm a small fish in a big pond I shouldn't have been in. Lesson learned, now question, will this junk ever be worth $1.00 + again or is this thing just a penny stock destined to be a penny stock. Thank you.

[Value_Investor]

No way! 0.01 is the 52-week low which is very hard to get shares at.

[trop]

I will grab some @ .005 next week

cheers!!

[Value_Investor]

Who are those very stupid sellers who sold tens of thousands shares
at 0.015 ~ 0.0152 today and yesterday? They must be very stupid MMs!

[looking for green]

Patience, this is headed much higher!!!

[Value_Investor]

What happened today? Yesterday it was as high as 0.029 and today it
dropped to 0.019 with such large volume? The very sick MM's game?

[Value_Investor]

Who were those very stupid sellers which sold the shares below 0.02
or even at 0.01? I bet it is the very sick MM's manipulation game!

[Value_Investor]

Does anyone know how many shares sold at 0.01 ~ 0.0199 since the 52-
week low is 0.01 (0.01 hit twice)? I guess it is the very sick MM's or shorter's manipulation. I am glad to have bought large amount of
shares around 0.02 and ready to buy more shares if the support 0.018
is broken again! Hopefully the sellers won't break down the bottom.

[looking for green]

Technicals keep moving in the right direction, patience is the key!!!

[Value_Investor]

I agree with you! Someone did paint the closing price to the daily's
low 0.02 even 83.4% of shares bought at 0.026. Anyway we should see 0.03 tomorrow. Congratulate to all the buyers and shareholders! Buy!

[Value_Investor]

Good news from today's 8-k filing. Huge value left here! 0.36 soon.

[Value_Investor]

Yes. The tax refund could be tens of millions of dollars which means
huge potential for all the shareholders! Easy to gain 1000% ~ 2000%.

[looking for green]

Trend reversal, all technical indicators (MACD, MFI, Slow Stochastics, Williams %R, On Balance Volume, and several more) pointing north!!!!

[Estrella]

AMFIQ @ .04!

[beeboys1]

Hi again Estrella. I am new to this board. What is your honest to goodness conservative price on this for 1 month and say 3 months. Thanks.

[wehrsy]

I am in for 200,000 @.06 does anyone know what is going on with this company? i.e. are we harris bank now- will the shares be transfered? cant find anything in reguards to this matter.

( are we toast here?)

[Value_Investor]

I saw it. Tens of millions of tax refund should send the stock to $1
or $0.36 at least. The asset is $3.8B vs the liability is $3.4B.

[Estrella]

AMFIQ @ .033!

[Value_Investor]

Hi, buddy, 16666 shares bought at 0.04 this morning! This bank stock
is extremely undervalued and oversold at the current price levels! I
think it should go back to the previous bottom 0.36 very soon. Huge
tax refund! Huge net assets ($400,000,000 or $400M)! Why people sell
the shares at such ridiculous price? before the bankruptcy the stock had over $8.3M MV vs CORS had only $5M MV. Now CORS is trading about
$2.5M ~ $3.5M MV vs AMFIQ at only about $0.6M market value. Easy to
gain 1000%.

[Estrella]

AMFIQ @ .03!

[wehrsy]

thank you- hey if things work out- this could be a mega bagger. good luck to you. looking for funds to buy more.

do you think our shares will stay in tact? (bankruptcy) (transfer to harris bank) I am a little new to b.k. plays

[Value_Investor]

Per the FDIC closure document the asset is $3.8B vs the liability is
$3.4B so the book value is over $17 a share. The stock should bouce
to the previous low $0.36 sooner or later. people are scared out due
to the MM's manipulation and the shorters attacking the bid price...

[wehrsy]

I am in @.05 bought last week. rest of my funds are in nbg national bank of greece @ $2.62 rolling the dice there. I should of done a little more d.d. on this company. (amfiq) not really sure what is going on here.

are they harris bank now? per the website- thats what it says.

any info on what is going on with this company would be appreciated.

[disableable]

i would suspect shareholder lawsuits on this one...very strange way of handling this whole situation

received a phone call the day after it started trading again from some dumb ass bitch saying if u want to clear it out its trading now...as if i hadn't noticed

lots of unanswered questions here and am about ready to start my inquiries...fdic, sec, and will consult with a lawyer who may have a way to get better info

this company in what ever manner of articles of incorporation they are trying to pawn off at the current time had better start coming clean

[Value_Investor]

Did you have any luck to have bought the bottom shares at 0.03? I am
waiting for it. Hopefully the MMs or weak hands can sell some shares
to me at 0.03 ~ 0.032 so I can average down my cost. I need sell at
0.4 to break even. I am curious why the first day it bounce to $0.15 from the new low $0.1? Before the bankruptcy the year low was $0.36.

[wehrsy]

i am with u. look at all the sell trades. there is not a sell for over $500.00 some are for $30.00

[Value_Investor]

New 52-week low 0.03 was created today even it is a fake one created
by the MM's manipulation (The MM traded 9297 shares at 0.03 through
all the significant high prices 0.04, 0.0401, and 0.0402 etc.). I am
still holding my 10000 shares which I bought at 0.75 before closure.
I am planing to buy 5M shares at 0.02 and 10M shares at 0.01 if any.

[wesley_]

sorry, correction, I meant halted not "worthless"

[wesley_]

glad, that I got out in time, 4/13, after trading it for some nice, handsome profits... wow... that was by a close shave :)

Thanks the Chart advised to dump the shares punctual... before they got worthless... holy moly...

[disableable]

it truly amazes me how everyone offers such useless info

did anyone bother to notice what was posted on amcore bank website last weekend and for that weekend only? no

has anyone written to the address listed where it says you may contact amcore financial directly for info as follows?

i for one will be sending out an overnite letter today

[foreontee]

ROCKFORD — Owners of AMCORE Financial Inc. stock learned Monday — if they hadn’t already guessed — that their shares are worthless.
What a shame for the shareholders,, I hoped they would have gotten a swap of Harris Bank shares for there AMFI shares ,but it looks like that won't happen. Tragedy

[disableable]

i am keeping with an original gut feeling here

amcore had stated they would be receiving a tax refund around 30M in a letter from the ceo on their old bank site weeks ago and that it along with $ received from the sale of all those branches would or could bring them up to an acceptable level of capital

it could be their earnings were worse than expected and they realized that the above would not make it so am wondering if they shifted those funds, at least the tax refund, into another subsidiary and let the amcore bank sub go...lots of guessing here but the statement on the old bank website over the weekend did say as per the fdic,"the holding company was not included in the closing of the bank or the resulting receivership"

the confusing part is what came out in the sec this am and said amfi is not a bank holding co at this time...that stands to reason, but what exactly are they

what has happened to cash and cash equivalents, other assets, the tax refund, and the $ received from those 12 branch sales??

lots of legal stuff going on here

[bacc]

My intentions are to make money, iam invested in AMFI just like you are, this is the first time i had a company go bust on me, so i dont know what to do, any suggestions, and whats your take on it

[disableable]

i wouldn't be so quick to pass that judgement call...you seem to be in favor of the negative side...makes me wonder what your intentions are here

[bacc]

We lose our money, thats what it comes down to

[bacc]

Fitch Downgrades Amcore Financial Inc.'s Ratings Following ReceivershipLast update: 4/26/2010 12:33:00 PMCHICAGO, Apr 26, 2010 (BUSINESS WIRE) -- Subsequent to the Federal Deposit Insurance Corporation's (FDIC) action of placing Amcore Financial Inc's (AMFI) banking subsidiary, AMCORE Bank, N.A., into receivership, Fitch Ratings has downgraded their Issuer Default Ratings (IDR) to 'D' from 'C'. A complete list of all ratings follows at the end of this release. Following the bank closure, the FDIC will sell AMCORE Bank, N.A.'s deposits, excluding brokered deposits, to Harris, National Association. It is assumed that AMFI will file for bankruptcy in the very near future. Fitch has downgraded the long-term and short-terms IDRs of both AMFI and AMCORE Bank, N.A. to 'D,' which indicates an issuer that in Fitch's' opinion has entered into bankruptcy filings, administration, receivership, liquidation or other formal winding-up procedure, or which has otherwise ceased business. Subsequent to the bank's closure, AMFI no longer exists as a bank holding company, and therefore, has ceased business. In all cases, the assignment of a default rating reflects the agency's opinion as to the most appropriate rating category consistent with the rest of its universe of ratings, and may differ from the definition of default under the terms of an issuer's financial obligations or local commercial practice. Fitch will maintain these ratings for 30 days at which point they will be withdrawn. The rating action reflects the application of Fitch's current criteria which is available on Fitch's website at ' and specifically includes: --Master Global Financial Institutions Criteria (Dec. 29, 2009) --Bank Holding Companies Criteria (Dec. 30, 2009) --Recovery Ratings for Financial Institutions (Dec. 30, 2009) Fitch has downgraded the following ratings: AMFI --Long-term IDR to 'D' from 'C'; --Short-term IDR to 'D' from 'C'; --Individual to 'F' from 'E'. AMCORE Bank, N.A. --Long-term IDR to 'D' from 'C'; --Short-term IDR to 'D' from 'C'; --Individual to 'F' from 'E'. The following ratings remain unchanged: AMFI --Support '5'; --Support Floor 'NF'. AMCORE Bank, N.A. --Long-term deposits 'CC/RR3'; --Short-term deposits 'C'; --Support '5'; --Support Floor 'NF'. Additional information is available at '. ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: . IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE '. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. SOURCE: Fitch Ratings
Fitch Ratings Julie Solar, 312-368-5472, Chicago Christopher Wolfe, 212-908-0771, New York or Media Relations: Brian Bertsch, 212-908-0549, New York Email: [e-mail] Business Wire 2010

[disableable]

the page that opened up at amcore bank website over the weekend provided a link which stated the following...i wrote it down on paper word for word, and now the page is not there and only refers to harris bank, so this is what they said

All shares of Amcore Bank were owned by its holding company, Amcore Financial,Inc. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of Amcore Financial,Inc, please do not contact or file a claim with the receiver. You may contact Amcore Financial Inc directly for information as follows.

Amcore Financial
501 Seventh St.
Rockford,IL 61110

the filing with the sec says Amcore Financial is no longer considered a bank holding company, but it doesn't say what it is considered to be. it's time for amcore financial to make a public statement as to what they are doing with their subsidiaries and what they are considered to be. may end up having to consult with a lawyer on this one...dust is still blowing around

[bacc]

Halts Amcore Financial, Inc.
NEW YORK, Apr 26, 2010 (GlobeNewswire via COMTEX) -- The NASDAQ Stock Market(R) /quotes/comstock/15*!ndaq/quotes/nls/ndaq (NDAQ 22.74, +0.06, +0.27%) announced that trading was halted in Amcore Financial, Inc. /quotes/comstock/15*!amfi/quotes/nls/amfi (AMFI 0.79, 0.00, 0.00%) on Friday, April 23, 2010 at 19:37:43 p.m., Eastern Time, for "additional information requested" from the company at a last price of $0.79.

Trading will remain halted until Amcore Financial, Inc. has fully satisfied NASDAQ's request for additional information.

For news and additional information about the company, please contact the company directly or check under the company's symbol using InfoQuotesSM on the NASDAQ(R) Web site.

For more information about The NASDAQ Stock Market, visit the NASDAQ Web site at http://www.nasdaq.com.

NDAQO

[latenight1]

do you know the value of the 5 they still have. Dont know what to do got 9k in shares at $1.10. Not much info on line or on the street I live in RKFD and it seems no body knows whats going to happen. Could it possibly be a good thing?

[stockprofitter]

Should be interesting tomorrow to say the least. There might be some fear mongers out there maybe which will give an attractive entry price. Shorts also may get squeezed as this is about 4M short out of a total float of 27M.

Long term there are 5 Subsiduaries remaining in the holding co. AMFI.

[latenight1]

So what happens tommorow. Why was the volume so high and the sell price higher last week? Who was buying???

[disableable]

-AMCORE FINANCIAL AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET-

so what would be happening to cash and cash equivalents which are part of any banks reserve requirement as a % of deposits...imo those funds must have been transferred from amcore bank to amcore financial which sure would bring on the fdic

cash and cash equivalents along with other assets for the 3rd Q amounted to approx 130M...other assets came in around 62M

if other assets are the subsidiaries and the bank part is no longer losing $ due to loan losses then what could the next balance sheet going to look like?

[stockprofitter]

Only 1 of 6 Subsiduaries were taken over by the FDIC/purchased by Harris, which was Amcore Bank, N.A.
The shorts squeeze is setting up nicely and are running scared bashing other boards inorder to attempt to drive the price down. Little do they know that these message boards rarely affect the price of any security at the best of times.

There are five remaining subsidiaries:

AMCORE Capital Trust II
ARP Holdings, LLC
AFI Nevada, Inc.
AMCORE Investment Services, Inc.
AMCORE Real Properties, LLC

Read more: http://www.faqs.org/sec-filings/100322/A...


http://www.faqs.org/sec-filings/100322/A...