First State Bank of Mendota has added two new branches in Shabbona, both former locations of the Farmers and Traders State Bank of Shabbona, which was closed at end of business Friday by state regulators.
Illinois schools would see $200 million in cuts in the budget approved by state lawmakers last week. An Associated Press analysis says if the governor signs the budget, Illinois would fall further behind in providing basic education funding for each student.
Illinois officials will gather financial information from the state’s more than 800 school districts over the next two weeks to understand how shifting pension costs away from the state would affect those districts.
“The more facts we could gather regarding what the impact would be on school districts,” Gov. Pat Quinn said, “it would be very important facts we should know.”
The governor initially supported shifting the cost of future pensions for downstate teachers and university workers to school districts and universities but backed away as the legislative session waned.