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
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Banks and Trust Companies
 
History of the Regulation of
Banks and Trust Companies in Illinois

From 1818 until June 30, 1958, state banks and trust departments were regulated by the Auditor of Public Accounts. Initially, the Auditor of Public Accounts was appointed by the General Assembly for a four year term, in 1833 the term was reduced to two years; and under the revisions to the 1848 constitution, the office became a popularly elected one with elected officials serving four year terms.

On July 1, 1958, the responsibility for regulating trust departments and trust companies was transferred to a newly created agency within the executive branch of government named the Department of Financial Institutions. The supervision of state banks remained with the Banking Division of the Auditor of Public Accounts until January 1, 1959, following a vote of the people at a referendum held on November 4, 1958.

On January 1, 1967, the office of Commissioner of Banks and Trust Companies was formed following a referendum of the people and the responsibility of the supervision of banks and trust companies was transferred to this new agency.

On July 1, 1996, the Office of the Commissioner of Savings and Residential Finance was merged with and into the Commissioner of Banks and Trust Companies and the agency's name was changed to the Office of Banks and Real Estate.

On July 1, 2004, the Office of Banks and Real Estate, the Department of Financial Institutions, the Department of Insurance, and the Department of Professional Regulation consolidated into an  agency named the Illinois Department of Financial and Professional Regulation (IDFPR) pursuant to the provisions of Executive Order Number 6 (2004).  Each of the former agencies became a division of the new agency.

On July 1, 2009, the Division of Insurance separated from IDFPR and became the Department of Insurance pursuant to the provisions of Exectuve Order Number 4 (2009).

The following is a listing of the chief banking regulators and the departments responsible for regulating State banks in Illinois history.

OFFICE OF BANKS AND REAL ESTATE

Bureau of Banks and Trust Companies

Listing of Chief Banking Regulators and Department Names



NAME


AGENCY NAME

DATE OF COMMISSION OR QUALIFICATION
Elijah C. Berry Auditor of Public Accounts 10/09/1818

04/06/1819

James T. Sapp Auditor of Public Accounts 08/29/1831
Levi Davis Auditor of Public Accounts 11/16/1835
James Shields Auditor of Public Accounts 03/04/1841
Wm. L. D. Ewing Auditor of Public Accounts 03/26/1843
Thomas H. Campbell Auditor of Public Accounts 03/26/1846

01/07/1847

Jesse K. Dubois Auditor of Public Accounts 01/12/1857
Orlin H. Miner Auditor of Public Accounts 12/12/1864
Charles E. Lippincott Auditor of Public Accounts 01/11/1869

01/12/1873

Thomas B. Needles Auditor of Public Accounts 01/08/1877
Charles P. Swigart Auditor of Public Accounts 01/10/1881

01/30/1885

Charles W. Pavey Auditor of Public Accounts 01/14/1889
David Gore Auditor of Public Accounts 01/10/1893
James S. McCullough Auditor of Public Accounts 01/11/1897

01/14/1901

01/09/1905

01/18/1909

James J. Brady Auditor of Public Accounts 02/03/1913
Andrew Russel Auditor of Public Accounts 01/08/1917

01/10/1921

Oscar Nelson Auditor of Public Accounts 01/12/1925

01/14/1929

Edward J. Barrett Auditor of Public Accounts 01/09/1933

01/04/1937

Arthur C. Lueder Auditor of Public Accounts 01/13/1941

01/08/1945

Benjamin O. Cooper Auditor of Public Accounts 01/10/1949
Orville E. Hodge Auditor of Public Accounts 01/12/1953
Lloyd Morey Auditor of Public Accounts 07/18/1956
Elbert Sidney Smith Auditor of Public Accounts 01/14/1957
Conrad F. Becker, Director

Roland Blaha, Supervisor of State Banks

Dept. of Financial Institutions

Banking Division

1958-62

1958-62

Joseph E. Knight, Director

Mark Waggoner, Supervisor of State Banks

Dept. of Financial Institutions

Banking Division

1962-67

1962-67

Roland W. Blaha, Commissioner Commissioner of Banks and Trust Companies 1967-70
H. Robert Bartell, Jr., Commissioner Commissioner of Banks and Trust Companies 1971-73
Richard K. Lignoul, Commissioner Commissioner of Banks and Trust Companies 1974-76
William C. Harris, Commissioner Commissioner of Banks and Trust Companies 1977-90
Robert J. Piel, Commissioner Commissioner of Banks and Trust Companies 1991-92
Scott A. Miller, Acting Commissioner Commissioner of Banks and Trust Companies 1992
Richard N. Luft, Commissioner Commissioner of Banks and Trust Companies 1992-95
Scott D. Clarke, Acting Commissioner Commissioner of Banks and Trust Companies 1996
Jack Schaffer, Commissioner Office of Banks and Real Estate 1996-01/15/1999
Patrick A. Brady, Acting Commissioner Office of Banks and Real Estate

 

01/15/1999-01/29/1999

 

William A. Darr, Commissioner Office of Banks and Real Estate 2/15/1999-1/29/2003
David S. Rodriguez, Acting Commissioner Office of Banks and Real Estate 1/29/2003-5/1/2003
D. Lorenzo Padron, Commissioner Office of Banks and Real Estate 5/2/2003-6/30/2004

Fernando E. Grillo, 
Secretary 

D. Lorenzo Padron, Director

Department of Financial and Professional Regulation

Division of Banking

7/1/2004 - 9/6/2005


7/1/2004 - 5/13/2007

Dean Martinez, Acting Secretary

Dear Martinez, Secretary

Jorge A. Solis, Director

Department of Financial and Professional Regulation

 

Divison of Banking

9/7/2005 - 3/29/2006


3/30/2006 - 11/30/2008

5/14/2007 - 2/27/2011

Michael T. McRaith, Acting Secretary Department of Financial and Professional Regulation 12/01/2008 - 6/29/2009

Brent E. Adams, Acting Secretary


Brent E. Adams, Secretary

Manuel Flores, Acting Director

Manuel Flores, Director

Department of Financial and Professional Regulation

 


Division of Banking

Division of Banking

07/01/2009 - 11/03/2009


11/04/2009 - Present

2/28/2011 - 3/30/2011

3/31/2011 - Present

 

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