UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 1, 1995
Financial Services Corporation of the Midwest
(Exact name of registrant as specified in its charter)
Delaware 0-8673 36-2301786
(State or other jurisdiction (Commission (IRS Employer
of incorporation or organization) File Number) Identification No.)
224 - 18th Street, Suite 202, Rock Island, Illinois 61201-8737
(Address of principal executive offices) (Zip Code)
(309) 794-1120
(Registrant's telephone number)
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Item 5. Other Events
The principal asset of Financial Services Corporation of the Midwest ("FSCM") is
its total stock ownership in THE Rock Island Bank ("TRIB"). As of September 30,
1995, such investment comprised 93% of FSCM's total, parent company only,
assets.
TRIB, a commercial bank, is a member of the Federal Reserve System and its
deposits are insured by the Federal Deposit Insurance Corporation. TRIB operated
under a charter granted in 1974 by the State of Illinois until November 1, 1995.
On that date, under authority received from the Office of the Comptroller of the
Currency, TRIB:
o became a national association called THE Rock Island Bank, National
Association;
o relocated the head office of the new national association to 3120
Middle Road, Bettendorf, Iowa;
o converted the former head office at 230-18th Street, in downtown
Rock Island, Illinois to a branch office;
o retained all other existing branch offices in Rock Island and
East Moline, Illinois;
o was able to exercise trust powers in both Illinois and Iowa; and
o has permission to increase investment in fixed assets.
Due to its location, TRIB services a bi-state market area. It has been a
long-term management goal that TRIB be able to offer convenient retail banking
services to both its Illinois and Iowa Quad Cities customers. A
disproportionally higher level of lending activity than retail deposit activity
currently exists in TRIB's Iowa customer base due to the lack of customer
convenience caused by restrictive interstate retail deposit regulations.
Management anticipates that with the opening of the Bettendorf office, retail
deposit activity will increase.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FINANCIAL SERVICES CORPORATION OF THE MIDWEST
Date: November 28, 1995 By: /S/ Douglas M. Kratz
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Douglas M. Kratz
President, CEO, CFO, Secretary
By: /S/ Jean M. Hanson
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Jean M. Hanson
Controller, (Chief Accounting
Officer)
