Full Text of HR1413 99th General Assembly
HR1413 99TH GENERAL ASSEMBLY |
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| 1 | | HOUSE RESOLUTION
| 2 | | WHEREAS, The members of the Illinois House of | 3 | | Representatives wish to congratulate the owners of | 4 | | Jacksonville Savings Bank on the occasion of the bank's 100th | 5 | | anniversary in 2016; and
| 6 | | WHEREAS, On October 16, 1916, 10 community leaders met by | 7 | | commission of the Illinois State Auditor to organize the | 8 | | Jacksonville Savings and Loan Association; the leaders all felt | 9 | | strongly that the people of Jacksonville wanted and needed a | 10 | | new way to finance home purchases and ownership; the | 11 | | association's first "office" was a desk in the lobby of the | 12 | | Farrell State Bank; in 1936, believing that a good savings and | 13 | | loan should practice its slogan of "Own Your Own Home", the | 14 | | association purchased the Farrell State Bank building at No. l | 15 | | Public Square; and
| 16 | | WHEREAS, By the late 1950s, it was clear that the | 17 | | Jacksonville Savings and Loan Association needed more room; the | 18 | | property at 211 West State Street in downtown Jacksonville was | 19 | | purchased and a new building was constructed; the savings and | 20 | | loan moved to its new larger quarters in 1961; and
| 21 | | WHEREAS, Over the next decades, the savings and loan | 22 | | continued its steady growth; in order to broaden its range of |
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| 1 | | activities, the association established the Financial | 2 | | Resources Group, Inc. (FRG) in May of 1986 as a wholly-owned | 3 | | service corporation; today, FRG provides investment services | 4 | | to its customers; and
| 5 | | WHEREAS, In December of 1986, Jacksonville Savings Bank | 6 | | expanded its physical locations outside of Jacksonville when | 7 | | the association purchased the former Central Illinois Savings & | 8 | | Loan building from the Federal Savings and Loan Insurance | 9 | | Corporation; as the City of Jacksonville progressed and | 10 | | membership in the association grew, it became clear that a | 11 | | second Jacksonville location was needed and a new branch | 12 | | facility was constructed on South Main Street in May of 1989; | 13 | | and
| 14 | | WHEREAS, On July 24, 1992, the association's charter was | 15 | | changed from a state-chartered savings and loan association to | 16 | | a state-chartered savings bank; with this change came the | 17 | | bank's new identity as the Jacksonville Savings Bank; later | 18 | | that year, in order to better serve its expanding customer | 19 | | base, the bank opened a new drive-up location at 225 West State | 20 | | Street in Jacksonville; and
| 21 | | WHEREAS, During the 1980s, the City of Jacksonville | 22 | | experienced an expansion of its West Morton business district | 23 | | and the retail business emphasis shifted from the downtown area |
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| 1 | | to Morton Avenue; to continue to provide customers convenient | 2 | | service, Jacksonville Savings Bank constructed a new | 3 | | 17,000-square foot building at 1211 West Morton Avenue, which | 4 | | opened on December 5, 1994; the building now serves as the | 5 | | bank's main office; and
| 6 | | WHEREAS, The opportunity to physically serve a third | 7 | | community arose in 1996 and on January 2, 1997 Jacksonville | 8 | | Savings Bank completed the acquisition of Litchfield Community | 9 | | Savings, S.B., in Litchfield; the location continues to operate | 10 | | under the name Litchfield Community Savings and is a full | 11 | | service branch of Jacksonville Savings Bank; and
| 12 | | WHEREAS, In January of 2000, Jacksonville Savings Bank and | 13 | | Chapin State Bank announced their intentions to merge during a | 14 | | joint press conference; Chapin State Bank, which possessed | 15 | | trust powers and had a large agricultural lending portfolio, | 16 | | gave Jacksonville Savings Bank an entrance into those two new | 17 | | markets while the customers of Chapin State Bank benefited from | 18 | | expanded locations available to them; and
| 19 | | WHEREAS, On July 14, 2010, Jacksonville Savings Bank | 20 | | completed its conversion from the mutual holding company | 21 | | structure and the related public offering; its parent company, | 22 | | Jacksonville Bancorp, Inc., is now a stock holding company that | 23 | | is fully owned by the public; and |
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| 1 | | WHEREAS, Jacksonville Savings Bank has seen a great many | 2 | | changes from its original operations to the modern and complete | 3 | | services of today; its owners and employees serve as models of | 4 | | hard work, integrity, and dedication for the people of the | 5 | | State of Illinois; therefore, be it
| 6 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | 7 | | NINETY-NINTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we | 8 | | congratulate the owners of Jacksonville Savings Bank on the | 9 | | occasion of the bank's 100th anniversary and wish them | 10 | | continued success and happiness in the future; and be it | 11 | | further
| 12 | | RESOLVED, That a suitable copy of this resolution be | 13 | | presented to Jacksonville Savings Bank as a symbol of our | 14 | | esteem and respect.
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