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N A a aaa faa od wh SE aia a Fra aE ve we Juve 25, 1927 WINNETKA "TALK Twenty Years of Growth Behind Trust Department Photo by Lehle The spacious quarters of the Trust department of the State Bank and Trust company are shown here. The arched window, which is above the main street entrance, looks out or Fountain square. Reception room, consultation room and private offices are provided. Bank's Real Estate Loan Department Offers Help in Placing Investments The function of the Real Estate Loan department is to invest a certain portion of the bank's funds in loans secured by first mortgages on improved real estate, and through the facilities and experience develo~~ in making real estate loans on a large scale this department is able to offer a substan- tial list of carefully selected mortgage loans to its customers for investment. Owners of improved property used for residence, apartment or business purposes often require funds for the payment of current obligations or for investment in new enterprises, while the owners of well located vacant property can most adequately finance the con- struction of homes and commercial or other income producing buildings through mortgage loans secured by land and buildings. Protect the Purchasers The methods followed in making first mortgage loans are involved in considerable detail and require the at- tention of capable and experienced per- sons in order that the purchasers of loans may be properly protected in the investment. Upon receipt of an appli- catien, an inspection and appraisal of the property is made by at least two independent appraisers whose reports are compared and the amount and terms of the loan may then be agreed upon between the bank and the bor- rower. The necessary papers to evi- dence the indebtedness are then pre- pared, executed and filed with the recorder of deeds, after which an ex- amination is made of the title to the property. Upon approval of title the necessary fire and windstorm insurance is written for the provision of both the property owner and the holder of the mortgage, and the bank is then ready to disburse the proceeds of the loan. When making improved property loans the whole amount of the loan may be paid to the owner in a lump sum, but when making construction loans the funds are disbursed directly by the bank to the various contractors and material men according to the progress of construction based upon a sworn statement previously obtained from the owner showing the names of the various contractors and amounts to become due each for labor or material entering into construction of the build- ing, the bank being careful to reserve at all times sufficient funds out of the loan proceeds to complete the building free of lien. Large and Small Investments The development and growth of this department during the past twenty-five years has been in accordance with the growth of the bank and the com- munity. In the early years loans were confined principally to improved resi- dence property. Growth has followed experience, however, and the require- ments of borrowers and investors to the extent that loans are now made in this department in amounts up to $150,000, and in some instances larger amounts have been loaned as joint undertakings with other institutions. Loans in amounts larger than a single investor would be interested in purchasing are usually divided into bonds of $100, $500 or $1,000 denominations for the con- venience of investors. The Real Estate Loan department of this bank has negotiated direstly or purchased since 1907, mortgage notes and bonds in excess of $15,195,889 and has sold to individual investors, estates, life insurance companies and other cor- porations loans in excess of $13,458,635 without loss of any part of the interest or principal of any of the loans. As a consequent of the experience and judg- ment gained through this volume of activity the officers of this department are well qualified to give sound advice in matters of real estate values and de- velopment. Bank's Trust Department Occupies Spacious Rooms Overlooking Two Streets The Trust department of the State Bank and Trust company occupies large quarters on the third floor of the new building. From its southwest corner position it overlooks both Davis street and Orrington avenue, and the windows on those two sides make it one of the most pleasant sections of the bank. G. H. Tomlinson, vice-president and head of the Trust department, has his ADVICE TO INVESTORS Specialists in Stocks and Bonds Give Guidance to Bank's Customers in Placing Their Money One of the most outstanding de- velopments of recent years in the in- vestment field has been the growth of the banks in influence and service. The beginning of this tendency on the part of the public to consult the banker about investments may be traced to the days when subscription to govern- ment liberty loans were made at the banks. The State Bank and Trust company itself handled for several thousand Evanston and North Shore citizens subscriptions amounting to nearly $2,000,000. The financial field has developed its investment specialists, and the staff of officers of the bank who attend to the purchase and sale of bonds for the hank's account may be so considered. The State Bank and Trust company began its service to its patrons many years ago by selling to them from the securities it purchased for the em- ployment of its own funds, and through the years has conserved the dollars of its customers and helped to keep them profitably employed. Its service today has so broadened that it assists in any investment need. The offices of the Investment de- partment in the new bank building are located on the bank floor, and here the residents of the north shore will find a service on a par with the lead- ing Chicago investment houses. Cages have been outfitted with steel counters, electrical automatic devices and other modern equipment. The furnishing of the department is wal- nut in keeping with that in the rest of the bank. Walls are of Kohnstone finish, giv- ing the quarters a bright, cheerful at- mosphere. One side of the room is of glass and looks out into the mezzanine passageway which has windows open- ing onto the main lobby of the bank. office and conference room directly back of the clerks' cages so that he is accessible at all times. Bank Guardian of | Clients' Estates Department Increases Steadily Until It Now Occupies Quarters Covering Half of Floor in New Building One of the outstanding developments of the modern financial world has been the growth of trust company business or rather the growth of that part of banking which has to do with estate and other fiduciary matters. In this, the State Bank and Trust company has been no exception having qualified as a trust company nearly 20 years ago. In 1910, the State Bank of Evanston, as it was then known, began actively to develop its trust department, receiving early in that year its first appointment as administrator of an estate. In that vear also, George Tomlinson came to the State bank from the Trust Depart- ment of the old Illinois Trust and Savings bank. Active expansion of various services of the Trust depart- ment followed and wills thereafter were continuously filed in which the bank had been named as executor or trustee, or in some desired capacity. Much Other Business Added It is well known that it requires the accumulation of years of this sort of business to produce either volume or | profits. In addition to caring for such estates as were left to be handled by the bank, there gradually was entered on the books a large volume of other business such as living trusts and cus- todianships. More and more have the advantages of a modern trust company come to be appreciated. Those possessing se- curities or real estate or both have turned these over to the trust company for management and care including collection of interest, rents and other income and their distribution. Where it is not desired to convey the title to the property, securities are left for safekeeping and this phase of the de- partment has made phenomenal growth. Evanston is well known as a com- munity of travelers, many of whom have learned to enjoy freedom from care which may be had in turning over their investments to be looked after by the State Bank and Trust company. In addition to Mr. Tomlinson, vice- president, who is now giving prac- tically his entire time to the trust de- partment, F. O. Potter, secretary, is also associated, and a well organized staff helps to carry on the multitude of re- sponsibilities of this department. So marked has been the growth of this business since the new building was begun that the new Trust Depart- ment offices occupy the entire south half of the third floor. Four Elevators Care for Public, Employees in Bank Four elevators serve patrons and employees of the State Bank and Trust company. From 8 a. m. to 9 p. m. two elevators operate to carry patrons from the street floor down to the vault floor or up to the bank or any other of the five floors. Besides the public elevators there are two bank élevators. One enters the vault and is used to carry depos- its and the steel busses from the teller cages. The other is a freight eleva- tor in the back of the building. The State Bank of Evanston quali- fied as a Trust company in 1908 undet the laws of Illinois.