Illinois Department of Financial & Professional Regulation Illinois Department of Financial & Professional Regulation
 
Manuel Flores, Acting Secretary  
Pat Quinn, Governor
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State of Illinois Appointments
State of Illinois
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State Banking Board of Illinois
State Banking Board of Illinois
Listing of Current Members
 

Duties of the Board: The duties of the State Banking Board of Illinois are to:

  • Review, consider and make recommendations to the Director of Banking upon any matters and to serve as the Board of Trustees of the Illinois Bank Examiners’ Education Foundation.
  • To review, consider and submit to the Director of Banking and to the Governor proposals for amendments to the Illinois Banking Act or for changes in or additions to the administration thereof which in the opinion of the Board are necessary or desirable in order to assure the safe and sound conduct of the banking business.
  • To require the Secretary to furnish the Board with meeting space for meetings to be held by the Board as well as to require the Secretary to provide such clerical and technical assistance as the Board may require.
  • To adopt its own by-laws with respect to Board meetings and procedures.
  • To authorize the transfer of funds from the Illinois Bank Examiners’ Education Fund to the Bank and Trust Company Fund. Any amount transferred shall be transferred to the Illinois Bank Examiners’ Education Fund from the Bank and Trust Company Fund within 3 years.
  • To maintain and direct the investments of the Illinois Bank Examiners’ Education Fund.
  • To evaluate various courses, programs, curricula and schools of continuing education and professional training that are available from within the United States for state banking department examination personnel and develop a program known as the Illinois Bank Examiners’ Education Program. The Board shall determine which courses, programs, curricula and schools will be included in this Program to be funded by the Foundation.
 
Membership Qualifications: The board shall be comprised of individuals interested in the banking industry. The board consists of the Director of Banking as Chairman and eleven (11) additional members.
  • Two of the members are public members neither of whom shall be an officer or director of or owner, whether directly or indirectly, of more than 5 percent of the outstanding stock of any bank.
  • Two of the members shall be from state banks having total assets of not more than $75 million in total assets at the time of their appointment.
  • Two of the members shall be from state banks having total assets of more than $75 million in total assets but not more than $ 150 million at the time of their appointment.
  • Two of the members shall be from state banks having total assets of more than $150 million in total assets but not more than $ 500 million at the time of their appointment.
  • Two of the members shall be from state banks having total assets of more than $500 million in total assets but not more than $2 billion at the time of their appointment.
  • One member shall be from a state bank having total assets of more than $ 2 billion at the time of their appointment.
 

Terms: The terms of the State Banking Board of Illinois are for 4 years, except that the initial Board appointments shall be staggered with the Governor initially appointing with the advice and consent of the Senate, 3 members to serve 2 year terms, 4 members to serve 3 year terms and 4 members to serve 4 year terms.

Members continue to serve until their successors are appointed and qualified.


Meetings: The Board shall meet at least once in each calendar year and upon the call of the Director of Banking or a majority of the Board may call for such special or additional meetings as may be deemed necessary or desirable.

 
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