Amcore Financial files for bankruptcy protection

Amcore Financial Inc. filed for bankruptcy protection, about four months after regulators closed the Chicago-based company's bank subsidiary.

The company yesterday listed assets of $7.2 million and debt of $75.4 million in Chapter 11 documents in U.S. Bankruptcy Court in Chicago.

Among the largest unsecured creditors are Wilmington Trust as trustee for Amcore Capital Trust II, owed $57.5 million, and JPMorgan Chase Bank NA, owed $11.9 million under a 2007 credit agreement, according to the petition.

Amcore in May received a notice of default and a demand from JPMorgan for payment of the credit facility.

Bank of Montreal bought assets of Amcore Bank NA in April after the Federal Deposit Insurance Corp. closed the Amcore Financial unit and placed it in receivership.

The bankruptcy case is In re Amcore Financial Inc., 10- 11567, U.S. Bankruptcy Court, Northern District of Illinois (Chicago).