Amcore Financial shares plunge after regulator criticizes capital plan

`` Federal banking regulators have rejected Amcore Financial Inc.’s Dec. 4 plan to restore its depleted capital and are unimpressed with the Rockford-based bank’s recent asset sales. In a Securities and Exchange Commission filing Wednesday, Amcore said the U.S. Office of the Comptroller of the Currency late last week rejected the plan because it didn’t meet legal requirements that it be based on “realistic assumptions.” The Federal Reserve Bank of Chicago also believes the capital plans are insufficient, Amcore disclosed. ''