To save money and make its services more convenient, Amcore Financial Inc. of Rockford, Ill., has merged three of its charters in south-central Wisconsin.
Two small banks-Amcore Bank of Argyle and Amcore Bank of Mount Horeb- were combined with a larger bank in Monroe. The new institution is called Amcore Bank, South Central, and it has $468 million of assets.
Ron Georgeson, president of the merged bank, said consolidating the banks made sense for both the company and its customers. Amcore can operate more efficiently with only one charter, he said, and customers-many of whom live in one of the three towns and work in another-will have access to their accounts at 11 branches.
South Central, the $4 billion-asset holding company, owns three other banks in Wisconsin, five in northern Illinois, and four other financial services companies.