HR1413 99TH GENERAL ASSEMBLY

HR1413 LRB099 23368 GRL 50827 r

HOUSE RESOLUTION

WHEREAS, The members of the Illinois House of Representatives wish to congratulate the owners of Jacksonville Savings Bank on the occasion of the bank's 100th anniversary in 2016; and

WHEREAS, On October 16, 1916, 10 community leaders met by commission of the Illinois State Auditor to organize the Jacksonville Savings and Loan Association; the leaders all felt strongly that the people of Jacksonville wanted and needed a new way to finance home purchases and ownership; the association's first "office" was a desk in the lobby of the Farrell State Bank; in 1936, believing that a good savings and loan should practice its slogan of "Own Your Own Home", the association purchased the Farrell State Bank building at No. l Public Square; and

WHEREAS, By the late 1950s, it was clear that the Jacksonville Savings and Loan Association needed more room; the property at 211 West State Street in downtown Jacksonville was purchased and a new building was constructed; the savings and loan moved to its new larger quarters in 1961; and

WHEREAS, Over the next decades, the savings and loan continued its steady growth; in order to broaden its range of activities, the association established the Financial Resources Group, Inc. (FRG) in May of 1986 as a wholly-owned service corporation; today, FRG provides investment services to its customers; and

WHEREAS, In December of 1986, Jacksonville Savings Bank expanded its physical locations outside of Jacksonville when the association purchased the former Central Illinois Savings & Loan building from the Federal Savings and Loan Insurance Corporation; as the City of Jacksonville progressed and membership in the association grew, it became clear that a second Jacksonville location was needed and a new branch facility was constructed on South Main Street in May of 1989; and

WHEREAS, On July 24, 1992, the association's charter was changed from a state-chartered savings and loan association to a state-chartered savings bank; with this change came the bank's new identity as the Jacksonville Savings Bank; later that year, in order to better serve its expanding customer base, the bank opened a new drive-up location at 225 West State Street in Jacksonville; and

WHEREAS, During the 1980s, the City of Jacksonville experienced an expansion of its West Morton business district and the retail business emphasis shifted from the downtown area to Morton Avenue; to continue to provide customers convenient service, Jacksonville Savings Bank constructed a new 17,000-square foot building at 1211 West Morton Avenue, which opened on December 5, 1994; the building now serves as the bank's main office; and

WHEREAS, The opportunity to physically serve a third community arose in 1996 and on January 2, 1997 Jacksonville Savings Bank completed the acquisition of Litchfield Community Savings, S.B., in Litchfield; the location continues to operate under the name Litchfield Community Savings and is a full service branch of Jacksonville Savings Bank; and

WHEREAS, In January of 2000, Jacksonville Savings Bank and Chapin State Bank announced their intentions to merge during a joint press conference; Chapin State Bank, which possessed trust powers and had a large agricultural lending portfolio, gave Jacksonville Savings Bank an entrance into those two new markets while the customers of Chapin State Bank benefited from expanded locations available to them; and

WHEREAS, On July 14, 2010, Jacksonville Savings Bank completed its conversion from the mutual holding company structure and the related public offering; its parent company, Jacksonville Bancorp, Inc., is now a stock holding company that is fully owned by the public; and

WHEREAS, Jacksonville Savings Bank has seen a great many changes from its original operations to the modern and complete services of today; its owners and employees serve as models of hard work, integrity, and dedication for the people of the State of Illinois; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE NINETY-NINTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we congratulate the owners of Jacksonville Savings Bank on the occasion of the bank's 100th anniversary and wish them continued success and happiness in the future; and be it further

RESOLVED, That a suitable copy of this resolution be presented to Jacksonville Savings Bank as a symbol of our esteem and respect.