The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

\ Business Page 5 - PLAINDEALER-HER ALD, FRIDAY, MARCH 1,1985 Some banks want fewer restraints By Jim Nash PUtndMlw Herald Newt 8errtce Deregulation, the popular, yet controversial, movement shaking time-honored in­ stitutions in America, has not overlooked banking. A segment of the banking community is lobbying for fewer restrictions governing the ownership of banks across state lines. Fewer restrictions would result in more competition among banks, proponents claim. That segment, however, will face opposition from a coalition of farmers, independent bankers and auto workers. The Illinois Coalition for Com­ petitive Banking, a group for­ med in January to battle in­ terstate bank ownership, has hired a Chicago public relations firm to help press its point. More across-the-border ownership will hurt consumers by stifling competition, a coalition spokesman said. The coalition membership includes the Independent Community Banks in Illinois, United Auto Workers, Illinois Farmers Union, Illinois State Grange and Illinois Livestock Association. With few exceptions, no financial institutions today may own other financial institutions across state lines. Opponents claim interstate bank ownership would result in less competition between banks as the large, impersonal in­ stitutions buy up many of the small community facilities. Also, because of absentee ownership of banks, loans for individuals and local businesses would be more difficult to come by, said coalition Executive Director Robert Wingert. One of two basic proposals could come before the Legislature later this year. One would give Illinois banks and holding companies the power to buy existing banks in other states with similiar bank pur­ chasing laws. Among those states are Florida, Georgia and New York. The other would ^low Illinois banks and holding companies to buy other existing facilities in neighboring states. Holding companies are similar to banks but have more freedom. They can, for instance, form sub­ sidise businesses and credit card companies. The Illinois Bankers Association (IBA) is supporting the general idea as a means of spurring more competition in the market, said Jim Civik, DBA vice president and director of state government affairs. Policies for loans under new ownership would not change Plaindealer HERALD (USPS 335-200) Established 1875 3812 Wast Elm Straat Phona 815-385-0170 Circulation 385-0178 McHanry, Illinois 60050 Published Evary Wednesday 8 Friday at McHanry. Illinois Second Class Postage PAID at * McHenry. Illinois by SHAW FREE PRESS NEWSPAPER GROUP POSTMASTER Send addrass changes to McHenry Plaindealer 3812 W. Elm St., McHenry, Illinois 60050 Subscribers are requested to provide immediate notice of change of address to the McHenry Plaindealer 3812 W. Elm St., VicHenry. III. 60050. A deduction of one month from the expiration of a subscription will be made where a change of address is provided through the Post Office deportment. ThomasC. Miller-Publisher Donna Santi-Editor auiarb Winning jlftospaprr MEMBER NATIONAL NEWSPAPER ASSOCIATION SUBSCRIPTION RATES In McHenry County By Carrier 50 Week 1 Year by Moil, $19 00 , Where carrier service not available only ft* Mum Cwtj 1 Year by Mail . $27.00 drastically, Civik said, because new owners would not want their purchase to die. A spokeswoman for the First National Bank of Chicago gave a blanket endoresment recently to the IB As efforts. Other sup­ porters say that interstate bank ownership is already a reality. Sears retail stores, for example, offer many of the services provided by banks. As yet, Wingert said, no final resolutions have been made public. \ "We were aware IBA was going to push for interstate bank ownership," Wingert said. Terry Ellis, president of the First National Bank of Crystal Lake, said he has not received much information on the issue, but he is aware of it. This is the second time in several years that interstate bank ownership has been seriously proposed, he said. Wingert said Citicorp Savings, a Chicago-based subsidiary of a New York holding company, brought the proposal-before the Illinois House of Represen-. tatives about three years ago. It was defeated "over­ whelmingly," he said. Ellis said that he opposes the movement, but, without more complete information on in­ terstate bank ownership, he could not comment in detail. "I don't think it's going to happen. People like that hometown touch," he said. Another banker, James Berlier, executive vice president of the Algonquin State Bank, said, "We don't take a stand one way or the other. If it (interstate bank ownership) comes, it comes." "I don't think it is something that will affect us one way or the Bank makes name change but keeps same ownership other," Berlier added. James J. Brown, president and chief executive officer of the First National Bank of Wood­ stock, said he supports the movement. First National is one of six community banks that formed the Americorp Financial holding company, which is based in Roc Word. "I am not concerned about the implications. We do a good job in our market," Brown said. "Our bank is not large enough to engage in - nor should it engage in - loans to foreign countries." On the other hand, he said, the big banks cannot serve the needs of small communities. The Federal Reserve system would watch out for the con­ sumer's interests if the measure were passed. "There's room for everybody," Brown said. Tuesday night, the voting shareholders of McHenry Savings & Loan Association voted formally to change its name to McHenry Savings Bank. According to Kathleen Marinangel, Chairman of the Board, the name change is being made "to better reflect today's deregulated thrift industry and the broadened powers given it in the past few years." Many savings & loans are taking on the Savings Bank label to more accurately project the fact that their offices offer many of those services that were before traditionally limited to banks. Personal and business checking accounts, business loans, automobile and R.V. financing, trust departments and in­ vestments are just a few ser­ vices not historically associated with savings & loans that are now available. The result has been that the public seems to be unaware that McHenry Savings & Loan can help in most of these areas. Now by using the term "Bank" in our name we expect that area customers will be more likely to try us first, in­ stead of last, for such services. Additionally, we are looking to attract the local businesses whom we feel we can provide with service as good or better than anyone else. "Other than our name, little else will change structurally. I want to emphasize," said Mrs. Marinangel, "that this NOT the result of any mergers, take­ overs, sale, or regulatory force. Ownership remains exactly the same as before, as does our management team, full FSLIC insurance of deposits up to $100,000, and savings & loans regulations. BUSINESS SEMINAR Jack Smith, district director of the U.S. Small Business Administration, and Don Hart, vice president of Timken Company, will speak March 18, at 7 p.m. at the University of Illinois at Chicago (UIC). The topic of their presentations will be "How to Improve Produc­ tivity." Brand New 1985 RANGER Fully equipped % New 1985 ESCORT Front wheel drive, power brakes, rack pinion steering tree battery, halogen headlamps tJWW Brand New HORIZON SE Loaded. $6710 Stock #1061-4 Brand New 1985 MARQUIS BROUGHAM 3J IHtr V-6 angina, automate transmitwon. intarval "War*. wMa MdwwH Or at. tin atoarmg w*a«. tmgarttp apaad control, raar dafroatar. air conditioning, AM/FM •tarao, powar window*. • way powar aaata. powar tock group, luiury «Mat cow*, tin tad glaaa, powar MMring. powar brake* ̂ _ . *9967 Giant Trade-In Allowance Brand New CHRYSLER LASER Fuel injected, 5 spd., stereo. $8770 FREE Automatic or Five Speed Transmission on selected models Brand New PLYMOUTH RELIANT COUPE Automatic, air conditioning. Stock #2535-4 Stock U 1520-4 Low Down* Payments 12 MONTH, 12,000 MILE WARRANTY AVAILABLE ON MOST USED CARS lercury LN7 5 speed custom interior, AM/FM stereo & 8-track. *4695 ""••MB* 80 MARK VI No. 5065A. Champagne metallic 4 door with matching leather, loaded with all the luxury options including electric moon roof *195 •- 79 CHRYSLER NEW YORKER No. 1-404 Luxury 4 door in raven black, air conditioning, full power, tilt wheel, cruise control, leather interior, am-fm stereo radio and more *3195 79T-BIRD No P466 Emerald green with matching cloth interior and white vinyl roof, full power, air conditioning, am-fm stereo. *3895 79 GRAND MARQUIS No 421 Silver metallic 4 door, luxury sedan, full power, air conditioning, tilt wheel, am-fm stereo vinyl roof, power windows, door locks and 6 way power seat *4695 81DATSUN KING CAB No 5108TA 4x4 with air conditioning, 5 speed, am-fm stereo cassette, camper top, like new. 1 owner *6495 83 RELIANT No 5040A Front wheel drive, great gas mileage, automatic transmission and full power, 10,000 certified miles. Balance of 5 year, 50,000 mile warranty 5895 83 FORD RANGER XL No 5071TA Automatic, full power, radio, camper top. red and white two tone paint, show 5395 79 F150 SUPER CAB No 5012TA. Air conditioning, automatic, full power tilt wheel, cruise control. $4995 83 EAGLE SX4 4 wheel drive, automatic, full power $5795 LeSabre Full Power, air cond., wire wheel cover & more. 82CHEVETTE Very clean, 1 owner •3795 •2495 *• «" . tKfcuJ '82 CAVALIER 2 DOOR HATCHBACK Air conditioning, automatic transmission, radio, tilt steering wheel Very clean 1 owner *4695 '82 ESCORT WAGON No 12-387. Air conditioning, automatic trans mission, regatta blue metallic, with matching interior $4395 79 CHEVY '/? ton pickup, camper top *2995 82 DODGE MAXI WAGON Dual air, automatic, full power, 12 passenger seating, red and white "8995 81 F150 Explorer Pickup 4 speed, overdrive, full power, AM/FM Stereo, Camper top. 6595 '82 BUICK REGAL LIMITED No 8 339 Air conditioning, full power, am fm stereo, vinyl roof, velour interior, cruise control $3795 79 MUSTANG GHIA No 2 409 2 door hatchback, air condit.oning, full power, 4 speed, am fm stereo, candy apple red with matching interior •6395 •83 CHRYSLER 5th AVE. Chrysler's finest loaded with all the luxury options *10,395 SANDY McKIE'S 587-4200 LAKEVIEW FORD-MERCURY SANDY MCKIE'S 587-6473 CHRYSLER - PLYMOUTH 90 S. Route 12 C10SE0 SUNDAY FOR A BETTER DEAL ON MONDAY LOCATED IN FOX LAK E / Mon Thurt 9 0 Fn 9 * Sst 9 5 riSKS FOBD 89 S. Route 12 Fox Lake CLOSEO SUNDAY FOR A BETTER DEAL ON MONDAY Mon.-Thur*. M Fri. »-6 • Sat. 0-5