Shares of Amcore Financial in Rockford, Ill., rose Monday on roughly four times their average volume, extending a rally that began after the banking company amended a credit facility.
Amcore said Friday that it had agreed with JPMorgan Chase & Co. to amend a covenant on its $12.5 million credit facility, and it also established a cash interest reserve account of $1.1 million with JPMorgan Chase.
The agreement requires Amcore to pay all accrued interest through the date of the amendment and to make monthly interest payments thereafter.
