Amcore Financial Inc. of Rockford, Ill., said Wednesday that it is negotiating to acquire a record-keeping company to bolster its 401(k) business.

Wellmark Capital Value, a Des Moines company, would become part of Amcore Investment Group, which manages $4.2 billion of assets. Amcore said the acquisition would let it internalize record keeping instead of using four third-party companies, including Wellmark, for the services.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.