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PAGE IS - PLAINDEALElf - WFDNESD AY. JANUARY 17. 1979 McHenry State Bank Names Directors, Board Chairman At the seventy-third annual stockholders meeting of the McHenry State bank Jan. 10, the stockholders elected the following directors: Esther M. Carey, William J. Cowlin, Thomas F. Bolger, Ormel J. Prust, Lenora E. Frisby, John L. Cowlin, Robert L. Weber, Elmer P. Adams, Francis M. Schmitt and Lorraine Nye. Following the stockholders' meeting, the board of directors met to organize the bank for the coming year. Esther M. Carey was chosen as chairman of the board and Lenora E. Frisby was appointed as secretary to the board. The board of directors named the same staff of officers that has served the bank. They are Thomas F. Bolger, president; Ormel J. Prust, executive vice- president; Lenora E Frisby, vice-president and trust of­ ficer; Robert B. Schneider, vice-president and trust of­ ficer; Edwin J. Becker, Jr., vice-president and cashier; James E. Larkin, vice- president; Ronald J. Vacula, vice-president; Richard A. Lane, vice-president; Robert E. Powers, assistant vice- president; Donald H. Meyer, assistant vice-president; John E. Murphy, assistant vice- president; Lillian Cairns, assistant vice-president; Donald H. Wattles, assistant cashier; Fred Kupstis, assistant cashier and security officer; Doris Wagner, assistant cashier; Peter J. Keller, auditor; Carol Scholle, assistant auditor; Yvoinne I. Ryden, credit officer and Philip R. Oeffling, loan officer. Lillian Cairns, who had served as head bookkeeper, was promoted to assistant vice- president and Philip R. Oeffling was named loan officer. Fred Kupstis was assigned the ad­ ditional duties as security of­ ficer . The board also adopted the Community Reinvestment act as required by recent federal legislation. The student loan report submitted by Assistant Vice- President Robert E. Powers, was also received. The local bank has been a leader in the student loan program, having granted over 1,200 loans totaling IVi million dolllrs. The local delinquency ratio remains at less than 1 percent, far below the state and national average. The board acknowledged that the low delinquency rate not only indicates a well managed nrorisi ^ut°va^ues- 90-min Installation We will mount tires within 90 min, or balance wheels flfifi, if you requested it at time of tire purchase. Save $15-$26 Steel-belted radial white walls. • 2 strong steel belts help resist impact damage • 2 smooth-riding radial polyester body plies Sale ends February 6. than May '77 regular prices. Glass-belted Road Guard. Was discontinued in July '77. We've had a special assortment built for this promotion, available thru Jan. 30. A78-13 C78-14 E78-14 F78-14 G78-14 G78-15 H78-14 H78-15 Reg. $37-56 in May *77; + Sl.74-S3.01 f.e.t. each tubeless black wall. W/w's, S4 more each. J-7815 w/w, reg. $64, $41; + $3.06 f.e.t. 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For most US cars. vCheck battery, starter, alternator, generator * /VAC )NT( ,< )/VU RY FOR YOUR CONVENIENCE THE AUTO SERVICE IS OPEN 7 DAYS A WEEK Mon. thru Fri. 8 a.m. to 9 p.m. Sat. 8 5, Sun. 11-5 Crystal Lake 105 Northwest Highway Route 14 Phone 815459-6450 FREE PARKING program, but a responsible student community. The comprehensive audit report submitted by Peter Keller and Carol Scholle was received and referred to the Audit committee for further study. The meeting was called to order by Thomas F. Bolger with Carol Scholle serving as secretary to the meeting. The acting chairman acknowledged the loss to the bank and com­ munity of William A. Nye, M.D., who had served as director of the McHenry State bank for 40 years and chairman of the board of directors for the - last eight years. ̂ Bolger, in his president's report, advised the stockholders that 1978 was another good year. He men­ tioned that the bank's payroll now exceeds one million dollars and that interest to savings depositors cost the bank almost five million dollars. The bank president said that banking was among the nation's most regulated in­ dustries and that we could expect additional regulations coming from Washington and Springfield. Bolger stated that most economists had been predicting a recession for 1979 but it now seems that those forecasters are backing off as inflation continues to be a major con­ cern. The local banker refused to make a forecast for the year ahead other than that the local bank will have another good year because they will continue to provide good banking service to the community. Ormel J. Prust, executive vice-president, told the stockholders that total assets had grown slightly over 11 percent during the year, but that the shift in deposits was to the higher yielding certificates of deposit. Prust agreed with Bolger in that even though the prime rate was up 4 percent over a year ago, the spread between the amount the bank charges for loans and the amount paid for deposits continues to narrrow. Prust said the operating income was approximately 1 percent of total assets, which is a most acceptable figure to the in­ dustry. He predicted that the additional costs associated with the building program could result in a decrease in bank profits. Edwin J. Becker, Jr., vice- president and cashier, told the stockholders that the projection for the completion of the new drive-in and operation center at the corner of Richmond road and Pearl street was June 1. He also stated that the drive-in facility on the Crystal Lake blacktop would be open as soon as all services were installed. Becker presented a chart showing tint 45 percent of the bank's income came from interest on mortgage loans which he said was a reflection of the bank's policy of rein­ vesting deposit funds back into the community. The cashier pointed out that more than 63 percent of the bank's expense was the result of interest paid to savings depositors. Lenora E. Frisby and Robert B. Schneider, vice-presidents and trust officers, talked of the continuing growth in the Trust department. Miss Frisby stated that more than 300 new trust accounts have been opened during the year. Schneider said that the Trust department is now handling many agency accounts wherein his depart­ ment assists individuals with the investment of funds. Both trust officers pointed out that it is difficult to measure the contributions a good trust department makeshift the total success of the bank. That success is reflected by year end totals of $123,884,700, which is an all time high for the McHenry State bank. Local Prolife Support u + For National Protest Prolife activists of this area will join in the nationwide effort to pass a Human Life amend­ ment to bring a halt to the legal killing of living, but unborn, human offspring. While the annual Jan. 22 massive March for life will take place in Washington to demonstrate Prolife strength, growth, and determination to have America again protect life from the. moment of fertilization, local Prolifers will hold a prayer brunch, on the previous day, at the clock Tower inn in Rock- ford. Goal of the nationwide protest is to focus attention on the enormous number of human lives that are being destroyed legally as a result of the U.S. Supreme court decision of Jan. 22. The Prolife group says since that date, more than six million unborns have been deliberately killed through abortion at the request of their own mothers. Under the leadership of President Magdalen Scheid, and in cooperation with the Pro-Life office, the Rockford Diocesan Council of Catholic women is inviting all area Prolifers to a prayer brunch Sunday, Jan. 21, beginning at 10 a.m., with a Mass celebrated by Bishop Arthur J. O'Neill of Rockford. The brunch will immediately follow the prayer service. Featured speaker for the event will be Kenneth D. Whitehead, a well known Catholic lay leader, writer, radio and TV panelist and a ) founder of the Maryland Prolife organization. A native of Idaho, Whitehead was educated at the University of Utah and the University of Paris (France). He is a former career officer in foreign service with the U.S. ; State department, 1957-87, and has served in Europe, Asia, and Africa. He has served with the Voice of America and, later, as a senior administrator with the federal government in Washington. Whitehead authored the book, "Respectable Killing: The Abortion Imperative" as well as many published articles ; on religion education and politics. His writing have ap­ peared in Osservatore ' Romano, Homiletic and ' Pastoral Review, Catholic Digest, National Catholic Reporter, Our Sunday Visitor ' and National Catholic Register.: He is married and the father of four sons (19 to 7). He will speak on "Abortion: Where We . Are and How We Got There", . and will give his advice on what can be done to finally and ef­ fectively provide the needed protection for innocent unborn life. "We are not dealing with miscarriages or accidents of nature" he notes, "this is deliberate, paid for, doing- away with existing, growing human life." Tickets are available from Diocesan Council of Catholic Women. Contact the council at 2801 Windamere Way, Rock­ ford, 111., 61109 for more in­ formation. START LOSINC WEIGHT TODAY The hordes* port of losing weight i* getting itorted. 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