HR0479

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HOUSE RESOLUTION


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

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

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

 
 


 






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

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

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

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

 
 


 






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