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The position of Commissioner of Savings and Loan
Associations was created by law in 1965 (L. 1965, p. 2077). Appointed by the
Governor, the commissioner licenses, examines, and regulates state-chartered
savings and loan associations. These duties formerly were exercised by the
Supervisor of Savings and Loan Associations who operated within the Department
of Financial Institutions. Before the creation of the Department of Financial
Institutions in 1957, the Auditor of Public Accounts was responsible for the
regulation of savings and loan associations.
The Savings and Loan Board, composed of seven
members appointed by the Governor, also was created by the 1965 act to conduct
hearings on appeals of the commissioner's decisions, to advise the Governor on
proposed legislation, and to advise the Governor and commissioner on personnel
needs of the office.
410.001
ANNUAL STATEMENTS OF SAVINGS AND LOAN
ASSOCIATIONS. 1943-1969. 33 cu. ft. No
index.
Annual statements are of savings and loan
associations submitted to the Auditor of Public Accounts (1943-1957), Department
of Financial Institutions (1957-1965), and Commissioner of Savings and Loan
Associations (1965-date). Each statement includes name and address of the
association and date of report. For 1943-1954 tabular summaries of the
association's fiscal and operational condition include statement of condition
listing assets and liabilities; balance statements; comparative profit-and-loss
statements; analysis of general reserves and surplus; analysis of loans made for
year (e.g., home improvement, purchase of house); number of members borrowing
and investing; list of directors, officers, and attorneys (i.e., name, address,
title, date elected, and term of office); list of employees (i.e, name, address,
title, amount bonded for); record of loans made to officers and employees; table
of share transactions and balances; and a report of votes at annual
stockholders' meetings. Beginning 1955 the statements include statements of
condition listing assets, liabilities, and capital; statements of operation
listing the net income after taxes; reconciliation of undivided profits;
reconciliation of reserves; report on first mortgage loans and analyses of these
loans; descriptive lists of other assets and liabilities; money borrowed;
members' withdrawable capital accounts; mortgage loan delinquencies; rate of
dividends declared annually; and lists of officers, directors, and attorneys
showing name, address, title, annual compensation rate, book value of shares
held, amount of indebtedness to association.
Statements occasionally are accompanied by
valuations of series of stock issued, copies of printed reports, notifications
of changes in officers, questionnaires on loans and contracts, real estate
appraisal lists, and related correspondence with the associations.
410.002
ORGANIZATION OF SAVINGS AND LOAN ASSOCIATIONS
FILES. 1897-1964. 24 cu. ft. No index.
Files contain documents that were required to be
filed with the Auditor of Public Accounts (1897-1957) or the Department of
Financial Institutions (1957-1964) by savings and loan associations when any
changes occurred in their articles of incorporation or bylaws. For each savings
and loan association, file variously includes articles of incorporation and
bylaws, original and amended; resolutions adopted at meetings of directors or
shareholders for amendments to articles of incorporation and bylaws, change of
location or name of association, increase of capital stock, and extension of
duration of charter; sample certificates of ownership of shares; certificates of
authorization from the Auditor granting approval for change; and correspondence
with the savings and loan association and the Attorney General concerning
certification of the articles of incorporation and bylaws. Occasionally included
are applications for permits to organize a savings and loan association
accompanied by a detailed plan for establishment of the association.
410.003
ADMINISTRATIVE FILES.
1953-1974. 15 cu. ft. No index.
Files include minutes of savings and loan
association board and shareholder meetings; board resolutions; monthly reports
to boards; articles of incorporations; bylaws; authorizations for changes in
names, locations, and capital stock; annual statements; reports of examination;
applications for insurance with the Federal Savings and Loan Insurance
Corporation; proposed charter plans; and loan applications to the Federal Home
Loan Bank Board.
410.004
AUDIT REPORTS.
1969-1979. 10 cu. ft. No index.
Audit reports of savings and loan associations'
services and operations include index of contents; statement of the financial
condition of the current and preceding accounting periods; and statements of
income investments, liquidity, liabilities, and stockholders' equity. After 1971
reports also include a comparative statement of assets, liabilities, and capital
for current and preceding accounting periods. Beginning in 1977 included are a
schedule of loans three months or more delinquent and a schedule of growth or
decline in assets, savings, mortgage loans, income, expenses, taxes,
certificates, interest, and measures of profitability.
410.005
ANNUAL, SEMI-ANNUAL, AND QUARTERLY STATEMENTS OF
ASSOCIATIONS LIQUIDATED, MERGED, OR CONVERTED.
1968-1975. 4 cu. ft. No index.
Record contains annual reports of liquidated,
merged, or converted institutions, followed by semi-annual or quarterly reports
submitted when an institution had effected a change. Reports contain statements
of conditions and operations, and reconcilements of undivided profits or
surpluses and general reserves. After 1971 also included is supplemental loan
data, income and expense reports, savings account balances, determination of
compliance with insurance regulations, federal income tax data, cash and
investment securities, interest/dividend rates, and savings account structure
information.
410.006
SEMI-ANNUAL FINANCIAL REPORTS.
1965; 1968-1974. 20.5 cu. ft. No index.
Reports contain data on savings and loan
associations' financial conditions which were filed with the Federal Home Loan
Bank Board. Included are statements of conditions and operations; reconcilements
of undivided profits or surpluses, general reserves, contingent reserves, and
special bad debt reserves; extent of compliance with insurance regulations;
analyses of mortgage loans, securities, specific reserves, deferred credits,
additional assets, members' and investors' accounts; and lists of officers,
directors, and attorneys, with their addresses, titles, and rates of
compensation. After 1972 reports contain statements of expenses, supplemental
data giving amount of loan activity, net worth reconciliation, savings account
balances with interest rates, and copies of change of location requests.
410.007
REPORTS OF EXAMINATIONS.
1965-1976. 21.5 cu. ft. No index.
Examinations conducted by the commissioner's
office and joint examinations conducted with the Federal Home Loan Bank Board
analyze savings and loan associations' procedures, techniques, and activities to
determine if mandatory corrective actions were necessary. Examinations conducted
solely by the commissioner's office include a synopsis of the scope of the
report, a description of deficiencies, and a description of corrective measures
to be undertaken.
Joint examinations include a synopsis of the
report's scope; data for extant and previous accounting periods including
assets, liabilities, net worth, scheduled items, losses, sub-standard assets,
itemized accounts, distribution of net income, reconcilements of reserves, loan
commitments, real estate owned, securities owned, and advances or borrowed
monies; and a listing of directors and principal officers with interrogatives
showing salaries, financial conditions, and criminal record. Included throughout
is correspondence relating to examination reports, changes in location, and
amendments to articles or bylaws.
410.008
CHANGE OF LOCATION FILES.
1962-1964; 1966; 1971-1977. 32 cu. ft. No index.
Files concern changing the facility locations of
savings and loan associations. Included are Savings and Loan Board hearing files
which contain reports and exhibits submitted and transcripts of hearings.
Occasionally included are copies of circuit court hearings which appeal board
decisions.
410.009
CONSUMER COMPLAINTS.
1972. 3 cu. ft. No index.
Correspondence concerns consumer complaints and
includes such topics as denial of loan requests, interest rate charges,
withdrawal and transfer penalties, withdrawal procedures, service charges,
savings certificates, educational loans, and sex discrimination in loan
applications.
410.010
REPORT, APPRAISAL, AND CORRESPONDENCE FILES.
1965-1974. 10 cu. ft. No index.
Files include savings and loan monthly and
semi-annual reports showing assets, savings, and net worth; material relating to
a review of the appraisal technique used in making property loans; and
correspondence primarily concerning waiver of the fifteen-day waiting period
prior to public announcement of anticipated increased dividend rates.
410.011
SAVINGS AND LOAN FAILURES FILES.
1951-1964. 2 cu. ft. No index.
Files concern the failures of the City Savings
and Loan Association of Chicago and the Leyden Savings and Loan. Files relating
to the City Savings and Loan Association of Chicago include correspondence with
investors and concern restrictions on withdrawals. Files relating to the Leyden
Savings and Loan include closing orders, semi-annual and annual reports, offers
of mergers, and a sale authorization.
These records are available at the Illinois State
Archives, Office of the Secretary of State.
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