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1
HOUSE RESOLUTION

 
2    WHEREAS, The members of the Illinois House of
3Representatives wish to congratulate the owners of
4Jacksonville Savings Bank on the occasion of the bank's 100th
5anniversary in 2016; and
 
6    WHEREAS, On October 16, 1916, 10 community leaders met by
7commission of the Illinois State Auditor to organize the
8Jacksonville Savings and Loan Association; the leaders all felt
9strongly that the people of Jacksonville wanted and needed a
10new way to finance home purchases and ownership; the
11association's first "office" was a desk in the lobby of the
12Farrell State Bank; in 1936, believing that a good savings and
13loan should practice its slogan of "Own Your Own Home", the
14association purchased the Farrell State Bank building at No. l
15Public Square; and
 
16    WHEREAS, By the late 1950s, it was clear that the
17Jacksonville Savings and Loan Association needed more room; the
18property at 211 West State Street in downtown Jacksonville was
19purchased and a new building was constructed; the savings and
20loan moved to its new larger quarters in 1961; and
 
21    WHEREAS, Over the next decades, the savings and loan
22continued its steady growth; in order to broaden its range of

 

 

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1activities, the association established the Financial
2Resources Group, Inc. (FRG) in May of 1986 as a wholly-owned
3service corporation; today, FRG provides investment services
4to its customers; and
 
5    WHEREAS, In December of 1986, Jacksonville Savings Bank
6expanded its physical locations outside of Jacksonville when
7the association purchased the former Central Illinois Savings &
8Loan building from the Federal Savings and Loan Insurance
9Corporation; as the City of Jacksonville progressed and
10membership in the association grew, it became clear that a
11second Jacksonville location was needed and a new branch
12facility was constructed on South Main Street in May of 1989;
13and
 
14    WHEREAS, On July 24, 1992, the association's charter was
15changed from a state-chartered savings and loan association to
16a state-chartered savings bank; with this change came the
17bank's new identity as the Jacksonville Savings Bank; later
18that year, in order to better serve its expanding customer
19base, the bank opened a new drive-up location at 225 West State
20Street in Jacksonville; and
 
21    WHEREAS, During the 1980s, the City of Jacksonville
22experienced an expansion of its West Morton business district
23and the retail business emphasis shifted from the downtown area

 

 

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1to Morton Avenue; to continue to provide customers convenient
2service, Jacksonville Savings Bank constructed a new
317,000-square foot building at 1211 West Morton Avenue, which
4opened on December 5, 1994; the building now serves as the
5bank's main office; and
 
6    WHEREAS, The opportunity to physically serve a third
7community arose in 1996 and on January 2, 1997 Jacksonville
8Savings Bank completed the acquisition of Litchfield Community
9Savings, S.B., in Litchfield; the location continues to operate
10under the name Litchfield Community Savings and is a full
11service branch of Jacksonville Savings Bank; and
 
12    WHEREAS, In January of 2000, Jacksonville Savings Bank and
13Chapin State Bank announced their intentions to merge during a
14joint press conference; Chapin State Bank, which possessed
15trust powers and had a large agricultural lending portfolio,
16gave Jacksonville Savings Bank an entrance into those two new
17markets while the customers of Chapin State Bank benefited from
18expanded locations available to them; and
 
19    WHEREAS, On July 14, 2010, Jacksonville Savings Bank
20completed its conversion from the mutual holding company
21structure and the related public offering; its parent company,
22Jacksonville Bancorp, Inc., is now a stock holding company that
23is fully owned by the public; and
 

 

 

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1    WHEREAS, Jacksonville Savings Bank has seen a great many
2changes from its original operations to the modern and complete
3services of today; its owners and employees serve as models of
4hard work, integrity, and dedication for the people of the
5State of Illinois; therefore, be it
 
6    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
7NINETY-NINTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we
8congratulate the owners of Jacksonville Savings Bank on the
9occasion of the bank's 100th anniversary and wish them
10continued success and happiness in the future; and be it
11further
 
12    RESOLVED, That a suitable copy of this resolution be
13presented to Jacksonville Savings Bank as a symbol of our
14esteem and respect.