September 17, 2009 (FinancialWire) — AMCORE Financial (NASDAQ: AMFI) announced that AMCORE customers with non-interest bearing deposit accounts, more commonly known as checking accounts, and NOW accounts paying less than 0.50 percent will continue to be fully insured by the Federal Deposit Insurance Corp.  regardless of the dollar amount.

The FDIC has extended its Transaction Account Guarantee Program for six months from the end of 2009 through June 30, 2010 and AMCORE continues to participate in the program. Financial institutions that elect to join the program must post prominent notices in the lobbies of their main office and branches indicating that they are a participant.

The insurance coverage on non-interest bearing transaction deposit accounts and NOW accounts paying less than 0.50 percent is over and above the $250,000 coverage provided to customers already. For example, if a customer has $500,000 in a non-interest bearing transaction deposit account and $250,000 in a certificate of deposit, the FDIC would fully ensure the entire $750,000 under this program. “This truly is a program designed to maintain consumer confidence in the financial services industry,” said McManaman.

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