Message From the Commissioner
To the Governor and the Illinois Legislature:
It is my privilege to submit the Illinois Office of Banks and Real
Estate's (OBRE) Annual Report for fiscal year ended 06/30/03 in conformity to
statutory requirements of 20 ILCS 5/25 and 20 ILCS 3205/6(f). The primary
purpose of the Annual Report is to provide a general overview of OBRE’s
condition. This report and additional information about OBRE can be found at
This Annual Report highlights last year’s achievements, but more importantly it
will provide a clear vision for the future of OBRE.
I am pleased to report that the condition of the Illinois financial system remains
safe and sound. In terms of total assets, banks chartered in Illinois exceeded $152 billion, trust companies
reached $2.3 trillion, foreign bank offices topped at $33 billion, and the thrift industry approached $8 billion.
Through OBRE on-site examinations and off-site monitoring programs, I find that the examination team’s
technical expertise is aligned with the demands of the economic environment in which they function.
The housing market in Illinois continues to be very strong in spite of a sluggish national economy. During the
last fiscal year, OBRE issued in excess of 8,500 new real estate licenses and renewed over 57,000 licenses.
OBRE’s licensure capabilities continue to be enhanced, further increasing its efficiency and effectiveness. I
will ensure that OBRE vigorously and diligently enforces the Acts and Rules to maintain the integrity of the
industries that fall under its jurisdiction.
I will demand a high level of accountability to protect the interests of the citizens of the State of Illinois.
OBRE is reviewing and evaluating workflows, work schedules, and implementing improved policies and
procedures in an effort to maximize productivity. In addition, OBRE will continue to use innovative
technologies to improve operational efficiency.
I welcome any comments you may have about this report or any specific OBRE activities.
D. Lorenzo Padrón