Government
10:25 am
Fri June 1, 2012

Around Illinois -- June 1

  • Ottawa shooting range settles safety case with state
  • Waterman bank agrees to end “unsafe” practices
  • President visits hometown to raise money
  • Cancer center groundbreaking is Monday

Buffalo Range agrees to some continued closures

An agreed order entered in LaSalle County Circuit Court will continue closure of the 50- and 70-yard targets and the plinking pit at the Buffalo Range Shooting Park to ensure the safety of people in Buffalo Rock State Park at Ottawa.

Concerns arose 20 years ago when a court order was issued enforcing safety restrictions on Buffalo Range due to complaints of bullets entering the state park. Buffalo Range owner Evelyn Muffler was ordered in December 2007 to set up barriers to prevent bullets from leaving the range.

Additional incidents have been reported since then, including complaints from IDNR employees working on the I &M Canal State Trail. Following an inspection of the range, shooting was forbidden in certain areas due to safety issues.

That led to the most recent order.

Waterman bank agrees to end “unsafe” practices

The Waterman State Bank has entered into a consent order with the Federal Deposit Insurance Corporation over “unsafe and unsound” banking practices. The agreement requires the bank to adjust its capital, asset and loan policies in the coming months.

Released Thursday as part of an Illinois Department of Financial and Professional Regulation discipline report, the consent order focuses on setting benchmarks for the amount and type of capital the bank must maintain and reducing “substandard” assets by collecting, charging off, selling or improving the quality of those assets.

The bank also will be prohibited from making certain loans and must gain state approval on lending policies, loan administration and risk monitoring plans and before declaring or paying any dividend.

The order also calls for the bank to set up an account relationship with the Federal Reserve Bank of Chicago to exchange and settle payment transactions through a clearing account balance.

The Daily Chronicle reports bank senior vice president Jeff Weber says Waterman State Bank has not handled an increase in foreclosures, but did say the struggling economy has hurt the institution.

He said the consent order is a road map for the bank to address some of the problems and said customers should not see a difference in day-to-day operations and services.

“We’re fully committed to working out the issues that are part of the order,” he said.

http://www2.fdic.gov/idasp/main3.asp

According to the FDIC website, as of March 31 the bank had $45.5 million in total assets and $41.4 million in total liabilities.

President Obama visits Chicago today

President Obama arrives in Chicago later today to attend three campaign events. He'll spend less than 24-hours in his hometown.

The president was in Chicago on official business just a couple weeks ago, for the NATO Summit. But this trip is all about campaign cash.

The president will arrive at O'Hare late this afternoon and head to a gathering at the Chicago Cultural Center. General admission tickets begin at $2,500.

An Obama campaign official says the president then travels to a pair of small dinners at private homes, where each plate is going for nearly $36,000.

Illinois is a reliable fundraising base for Mr. Obama. About 50 of his supporters in the state have collected at least $50,000 in donations for his campaign.

This is the president's third trip to Chicago just this year to raise cash for his re-election campaign.

SwedishAmerican to break ground on new cancer center

Groundbreaking will be held at 11 a.m. Monday for the outpatient cancer center being constructed by SwedishAmerican Health System in collaboration with UW Health and its nationally recognized University of Wisconsin Carbone Cancer Center  

The center will be located on a 30-acre site on N. Bell School Road in Rockford, near the Interstate 90 Riverside Boulevard exit. State approval was received in April, and preliminary site preparation work began this month.

The new center will offer such services as medical oncology, chemotherapy and infusion; advanced radiation therapy; and medical imaging. Patients will have access to the latest clinical trials offered by the University of Wisconsin-Madison and a full complement of holistic and support services.

Project completion is planned for late 2013. In addition to creating approximately 300 construction jobs, the center is projected to include the equivalent of 104 full-time jobs, including healthcare providers and support staff by its fourth year of operation.