EXHIBIT 99.1


                    August, 8, 2000

                    Katherine Taylor
                    Investor Relations Manager
                    815-961-7164





           AMCORE FINANCIAL, INC., ANNOUNCES STOCK REPURCHASE PROGRAM

    ROCKFORD -- AMCORE Financial, Inc., announced today its Board of Directors
has authorized the repurchase of up to five percent of its common stock, or 1.35
million shares.

    The transactions will be completed from time to time, depending on market
conditions, through open market or privately negotiated purchases. AMCORE
currently has 27 million shares of common stock outstanding.

    The repurchased shares will become treasury shares and will be used for
general corporate purposes, including the issuance of shares in connection with
AMCORE's stock option plans and other employee benefit plans.

    The repurchase of up to five percent of its common stock is in addition to
the 330,000 shares that remain outstanding from the 1999 repurchase
authorization for a total of 1.68 million shares. Robert J. Meuleman, chairman
and chief executive officer of AMCORE, said, "We believe the repurchase of our
own shares will enable us to take advantage of an attractive investment
opportunity given the current price level of our stock. We feel this investment
will be of benefit to both the company and its stockholders and that this
program demonstrates AMCORE's commitment to shareholder value."

    AMCORE Financial, Inc., is a financial services company headquartered in
northern Illinois with banking assets of $4.4 billion, assets under
administration of $5.2 billion and 64 locations in Illinois and Wisconsin. The
company also has the following financial services companies: AMCORE Mortgage,
Inc. and AMCORE Investment Group, which provides trust and brokerage services,
and through Investors Management Group, provides capital management and mutual
fund administrative services, and is the investment advisor for the Vintage
family of mutual funds.





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    This news release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 with respect to
the financial condition, results of operations, plans, objectives, future
performance and business of AMCORE. Statements that are not historical facts,
including statements about beliefs and expectations, are forward-looking
statements. These statements are based upon beliefs and assumptions of AMCORE'S
management and on information currently available to such management. The use of
the words "believe", "expect", "anticipate", "plan", "estimate", "may", "will"
or similar expressions are forward looking statements. Forward-looking
statements speak only as of the date they are made, and AMCORE undertakes no
obligation to update publicly any of them in light of new information or future
events.

    Contemplated, projected, forecasted or estimated results in such
forward-looking statements involve certain inherent risks and uncertainties. A
number of factors - many of which are beyond the ability of the company to
control or predict - could cause actual results to differ materially from those
in its forward-looking statements.

    These factors include, among others, the following possibilities: (I)
heightened competition, including specifically the intensification of price
competition, the entry of new competitors and the formation of new products by
new and existing competitors; (II) adverse state and federal legislation and
regulation; (III) failure to obtain new customers and retain existing customers;
(IV) inability to carry out marketing and/or expansion plans; (V) loss of key
executives or personnel; (VI) changes in interest rates including the effect of
prepayment; (VII) general economic and business conditions which are less
favorable than expected; (VIII) equity and fixed income market fluctuations;
(IX) unanticipated changes in industry trends; (X) unanticipated changes in
credit quality and risk factors; (XI) success in gaining regulatory approvals
when required; (XII) changes in Federal Reserve Board monetary policies; (XIII)
inability to fully realize cost savings from the new organizational structure
within the expected time frame or additional or unexpected costs are incurred;
(XIV) unexpected outcomes on existing or new litigation in which AMCORE, its
subsidiaries, officers, directors or employees are named defendants; (XV)
technological changes; (XVI) changes in Generally Accepted Accounting
Principles: and (XVII) inability of third-party vendors to perform critical
services to the company.

    AMCORE common stock is listed on The NASDAQ Stock Market under the symbol
"AMFI." Further information about AMCORE Financial, Inc. can be found at the
company's website at http://www.AMCORE.com.