Amcore Financial Inc. said this week that it expects to save $7.3 million per year by folding its nine bank charters into one bank.

The $4.2 billion-asset company, which operates 66 branches in Illinois, Wisconsin, and Iowa, announced plans to consolidate its charters in April. It said cost savings would be achieved through staff reductions and regulatory filing costs.

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.