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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)<F*>
Illini Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
451773105
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(CUSIP Number)
Dale A. Schempp, Noll Law Office
802 South Second Street, Springfield, Illinois 62704
(217) 544-8441
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
April 6, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box [ ].
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
[FN]
<F*>The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act bust shall be subject to all other provisions of the Act
(however, see the Notes).
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SCHEDULE 13D
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CUSIP No. 451773105 Page 2 of 7 Pages
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1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ida R. Noll TIN ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP<F*> (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS<F*>
PF/OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2 (e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
NUMBER OF 44,863
SHARES -------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 44,863
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10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
44,863
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES<F*> [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0039%
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14 TYPE OF REPORTING PERSON<F*>
IN
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ITEM 1. Security and Issuer.
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This statement relates to shares of Common Stock, par value
$10.00 per share, of Illini Corporation (the "Company"). The principal
executive offices of the Company are located at 3200 West Iles Avenue,
Springfield, Illinois 62707.
ITEM 2. Identity and Background.
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(a) Ida R. Noll
(b) 1190 Williams Boulevard
Springfield, Illinois 62704
(c) Principal Occupation: Law Office Manager
(d) The Reporting Person has not, during the last five years,
been convicted in a criminal proceeding (excluding traffic
violations and similar misdemeanors).
(e) The Reporting Person has not during the last five years
been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a
result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect
to such laws.
(f) United States
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. (Note:
- ------ Paragraphs 1-6 below are as previously reported on the
initial Schedule 13D filed September 19, 1995; paragraphs 7-10
are new to this Amendment No. 1.)
1. Reporting Person and spouse owned 15,471 shares of Illini
stock which represents 3.4% of Illini outstanding stock on
June 17, 1992.
2. Spouse received 9,877 shares of Illini stock as inheritance
from the Estate of Conrad Noll, Jr. on August 3, 1992.
Reporting Person and spouse own a total of 25,348 shares of
Illini stock which represents 5.7% of Illini's outstanding
stock.
3. Reporting Person and spouse received gifts of 2,097
shares of Illini stock during the remainder of 1992.
Reporting Person and spouse also purchased 1,258 shares of
Illini stock at prices ranging from $17.25 to $17.50 during
the remainder of 1992. All acquisitions of stock were
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purchased at or above the fair market value of Illini's
stock. Reporting Person and spouse own 28,703 shares of
Illini stock which represents 6.4% of Illini outstanding
stock as of December 31, 1992.
4. Reporting Person and spouse received gifts of 1,646 shares
of Illini stock during 1993. Reporting Person and spouse
also received 100 shares from a hypothecated agreement
previously entered into. Reporting Person and spouse also
purchased 2,942 shares of Illini stock at prices ranging
from $17.25 to $19.50 during 1993. All acquisitions of
stock were purchased at or above the fair market value of
Illini's stock. Reporting Person and spouse own 33,391
shares of Illini stock which represents 7.4% of Illini
outstanding stock as of December 31, 1993.
5. Reporting Person obtained sole ownership of Illini stock
from Reporting Person's spouse in 1994. Reporting Person
and spouse received gifts of 1,686 shares of Illini stock
during 1994. Reporting Person also purchased 5,531 shares
of Illini stock at prices ranging from $20.00 to $25.00
during 1994. All acquisitions of stock were purchased at
or above the fair market value of Illini's stock.
Reporting Person owns 40,608 shares of Illini stock which
represents 9.1% of Illini outstanding stock as of
December 31, 1994.
6. Reporting Person and spouse received gifts of 967 shares of
Illini stock during 1995. Reporting Person also purchased
997 shares of Illini stock at prices ranging from $21.75 to
$25.00 during 1995. All acquisitions of stock were
purchased at or above the fair market value of Illini's
stock. Reporting Person owns 42,572 shares of Illini stock
which represents 9.5% of Illini outstanding stock as of
July 31, 1995.
7. Reporting Person and spouse each received an additional
gift of 390 shares of Illini stock during the second half
of 1995 from Reporting Person's mother, Mrs. Amy Rock.
Reporting Person and spouse acquired an additional 208
shares of Illini stock in the second half of 1995 at a
price of $24.50 per share. All purchase acquisitions of
stock were purchased at or above the fair market value of
Illini's stock. Reporting Person's spouse transfers all
interest in shares acquired by him to Reporting Person.
Reporting Person owns 43,560 shares of Illini stock which
represents 9.71% of Illini outstanding stock as of
December 31, 1995.
8. Reporting Person purchased 103 shares of Illini stock
during 1996, at a purchase price of $27.00 per share. All
purchase acquisitions of stock were purchased at or above
the fair market value of Illini's stock. Reporting Person
owns 43,663 shares of Illini stock which represents 9.73%
of Illini outstanding stock as of December 31, 1996.
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9. On April 6, 1998, Reporting Person and spouse each received
a gift of 350 shares of Illini stock from Reporting
Person's mother, Mrs. Amy Rock. Reporting Person's spouse
transfers all interest in the 350 shares so received by him
to Reporting Person. Also on April 6, 1998, the three
children of Reporting Person and spouse received gifts
(also from Reporting Person's mother) of an aggregate 750
shares of Illini stock, as follows:
a) 250 shares to Ida R. Noll, custodian for Daniel A.
Noll (DOB 04/27/83) under the Illinois Transfer to
Minors Act. Daniel A. Noll is the son of, and
resides with, Reporting Person and spouse. Report
Person acknowledges beneficial ownership of said
shares.
b) 250 shares to Ida R. Noll, custodian for Charlene V.
Noll (DOB 06/04/80) under the Illinois Transfer to
Minors Act. Charlene V. Noll is the daughter of, and
resides with, Reporting Person and spouse. Reporting
Person acknowledges beneficial ownership of said
shares.
c) 250 shares to Lindsey R. Noll. Lindsey R. Noll (DOB
12/31/75) is the daughter of, and resides with,
Reporting Person and spouse. Reporting Person
disclaims beneficial ownership of said shares owned
by Lindsey R. Noll for purposes of Section 13(d) and
13(g) of the Securities Exchange Act.
10. Reporting Person beneficially owns 44,863 shares of Illini
stock which represents 10.0039% of Illini outstanding stock
as of the date of this filing.
ITEM 4. PURPOSE OF TRANSACTION.
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The Company's stock was acquired for investment in the company.
The Reporting Person does not have any present plans or proposals
that relate to or would result in (i) the acquisition by any person of
additional securities of the Company or the disposition of securities of the
Company; (ii) an extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Company or any of its
subsidiaries; (iii) a sale or transfer of a material amount of assets of the
Company or any of its subsidiaries; (iv) any change in the present Board of
Directors or management of the Company, including any plans or proposals to
change the number or term of directors or to fill any existing vacancies on
the Board; (v) any material change in the present capitalization or dividend
policy of the Company; (vi) any other material change in the Company's
business or corporate structure; (vii) any change in the Company's articles
of incorporation, bylaws, or instruments corresponding thereto or other
actions which may impede the acquisition of control of the company by any
person; (viii) causing
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a class of securities of the Company to cease to be authorized to be quoted in
an inter-dealer quotation system of a registered national securities
association; (ix) a class of equity securities of the Company becoming eligible
for termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934, as amended; or (x) any action similar to any of those
enumerated above.
The Reporting Person reserves the right to determine in the
future to change the purpose or purposes described above.
ITEM 5. INTEREST IN SECURITIES OF ISSUER
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(a) The Reporting Person beneficially owns 44,863 shares,
representing 10.039% of the outstanding shares of the
Company.
(b) The Reporting Person has the sole power to vote and dispose
of the shares referred to in Item 5(a).
(c) Except as reported in Item 3 hereof, there has been no
transaction in the Common Stock of the Company effected
during the past sixty (60) days by the Reporting Person.
(d) No other person is known to have the right to receive or
the power to direct the receipt of dividends from, or the
proceeds from the sale, of, the securities referred in
Item 5(a).
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
- ------ TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
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NONE.
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SCHEDULE 13D
CUSIP NO. 451773105
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
April 16, 1998
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(Date)
/s/ Ida R. Noll
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Ida R. Noll
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