Letter from the Commissioner of Banks and Real Estate
To the Governor and the Legislature:
It is my privi-lege
Office of Banks
and Real Es-tate's
to statutory re-quirement
ILCS 5/25 and
3205/6(f). The primary purpose of the
Annual Report is to provide a general
overview of the condition of our agency.
This report and additional information about
our agency can be located on the agency's
Web site at http:/www.obre.state.il.us.
This year's report is offered in four major
sections. Section one consists of an
overview of the agency's structure and the
responsibility of each bureau.
In section two, the fiscal year 1999 agency
achievements are summarized. Some of the
more noteworthy achievements include the
q State-chartered Bank Powers
q Increased De Novo Activity
q Supervisory Fee Credit
q Internet Mail-In Examination
q Real Estate Act of 2000
q Real Estate School Inspection
q Growth in Timeshare Registrations
q Year 2000 Readiness
Section three includes the Banking, Thrift,
Appraisal, and Real Estate Board reports
and lists of their members.
Section four provides financial information
about the agency's operations including
detailed balance sheets, operating
statements, and headcount reports.
Former Governor Jim Edgar and former
Commissioner Jack Schaffer led our agency
into the 1999 fiscal year. The citizens of
Illinois elected a new Governor, George H.
Ryan. Jack Schaffer retired in January of
1999 and Governor Ryan appointed and the
Senate confirmed me, giving me the honor
of serving as the second Commissioner of
the Illinois Office of Banks and Real Estate.
I hope you will find that this report provides
clear and comprehensive information
regarding the agency's activities during July
1, 1998 through June 30, 1999. As always, I
welcome any comments you may have about
this report or about specific bureau activity.
William A. Darr
NOTE: Request for copies of this publication should be directed to the Office of Banks and Real Estate,
Attention: Public Information Officer, 500 East Monroe Street, Suite 800, Springfield, Illinois 62701-
1509. Phone Number (217) 785-2903 and TDD Number (217) 524-6644.