ITEM 8.01 Other Events

AMCORE Financial, Inc. (the "Company") announces that it has elected to defer regularly scheduled quarterly interest payments on the Company's junior subordinated debentures ("Debentures"). The Debentures are owned by AMCORE Capital Trust II ("Trust") and were funded by the Trust's issuance of trust preferred securities ("Debt Securities") to institutional investors. The total estimated annual interest that would be payable on the Debentures and the underlying Debt Securities, if not deferred, is approximately $3.3 million.

The terms of the Debentures and trust indentures (the "Indentures") allow for the Company to defer payment of interest on the Debt Securities at any time or from time to time for up to 20 consecutive quarters provided no event of default (as defined in the Indentures) has occurred and is continuing. The Company is not in default with respect to the Indentures, and the deferral of interest does not constitute an event of default under the Indentures. While the Company defers the payment of interest, it will continue to accrue expense for interest owed at a compounded rate. Upon the expiration of the deferral, all accrued and unpaid interest is due and payable. During the deferral period, the Company may not declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock. On November 21, 2008, the Company filed an 8-K announcing that the Board had suspended the payment of dividends on common stock.

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