HR0479 95TH GENERAL ASSEMBLY

HR0479 LRB095 12347 KXB 37106 r

HOUSE RESOLUTION

WHEREAS, The members of the Illinois House of Representatives are pleased to congratulate the staff of German-American State Bank on the 100th anniversary of the financial institution; and

WHEREAS, When Henry Coffman, Lewis Fosha, and Robert Wessels were granted permission to organize a bank to be known as German-American State Bank "with a capital stock of twenty-five thousand dollars, divided into 250 shares of one hundred dollars each", the initial stockholders, directors, and officers could little envision the long-term success and phenomenal growth that would follow; from 1907 to 2007 the original capital of $25,000 has grown to $11,552,000; total assets now exceed $145,000,000; from a total of 3 positions in 1907 (President, Vice-President, and Cashier), the German-American State Bank now includes a total staff of 42 full and part-time employees; and

WHEREAS, By 1953 the bank had outgrown the 1907 bank building and it was demolished and replaced on the same site with a modern facility; this building would grow in 1962 and again in 1977 to its present size; in 1996 a complete make over of the interior was completed; and

WHEREAS, In 1982, with changing State regulations in Illinois permitting branch banking, the bank opened a second location in Seward in June of 1983; in May of 1997 the bank opened another branch in Pecatonica, moving from a temporary location to a new full-service building in the Spring of 1999; the most recent branch opened in Winnebago in 2005; and

WHEREAS, Many people have contributed to the bank's century of progress; the bank's directors have a long history of encouraging innovation and growth; the bank presidents, including James Schneiderman, who currently holds the position, have willingly embraced changing technology, regulations, and new product ideas necessary to compete and grow in the fiercely competitive financial services marketplace; and

WHEREAS, The most important part of the anniversary is the total commitment to customer satisfaction that the directors, officers, and staff of German-American State Bank share; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE NINETY-FIFTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we congratulate the staff of German-American State Bank on the 100th anniversary; and be it further

RESOLVED, That a suitable copy of this resolution be presented to Jim Schneiderman, President of German-American State Bank as a symbol of our esteem.