ROCKFORD, Ill. - Amcore Financial Inc.'s board has authorized the company to repurchase up to 1.35 million shares, or 5% of its common shares outstanding.

The company said it would use the repurchased shares for general corporate purposes, including the issuance of shares in connection with stock options and other employee benefit plans.

The repurchase plan is in addition to the 330,000 shares that remain outstanding from a buyback authorized last year, Amcore said.

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