Lake Travis View (Austin, Tex.), Vol. 4, No. 4, Ed. 1 Thursday, March 16, 1989 Page: 3 of 24
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Thursday, March 16, 1989 • Lake Travis View • Page 3
BANK
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266 2977
NOTARY
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CSI
St. Patrick’s Day Sale
A Seminar on Income Taxes
S
.39* ib
A uUtDtD I
,i
FREE
24 oz. Loaf
SAFEWAY
H&R BLOCK DON’T SETTLE FOR LESS!
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I
Don’t face
the tax
laws alone.
Travisfest time
Sign up now for booths
Ocean Spray
Cranberry
Juice Cocktail
Drypens
Diapers
$7.77 Pkg.
Thompson
Seedless
Grapes
.77*
Getting Through The Tax Maze:
A Guided Tour
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L
Gain fame and fortune (well, at least a trophy) at the 1989
Travisfest Chili Cookoff. Want to sell some arts and crafts or
put out information about a product or service? Sign up now
to participate in the cookoff or to have a booth at Travisfest,
the fourth annual community festival sponsored by the Lake
Travis Chamber of Commerce.
For the first time in its history, the event will be held on
waterfront property on Lake Travis, with activities running
from noon to 5 p.m. Saturday, April 22, at the Dreikurs Rela-
tionship Center on Stewart Road, just off RR 620. Free shut-
tles will take festivalgoers from the parking lot at Lake
Travis Elementary to the center.
Teams are encouraged to participate in the cookoff and to
be as creative as possible in thinking up a theme and
decorating a booth. Trophies will be given for best theme
based on originality and creativity, according to Ed Coel,
who is in charge of the chili cookoff. Chili will be judged on
the basis of taste, after-taste, color, aroma and texture. The
entry fee is $20 for chamber members, $30 for non-members.
The same fees are charged for arts and crafts or informa-
tion booths. After paying the fee, participants may keep all
the proceeds they earn at the booth.
Local civic and school organizations, as well as the
chamber, are sponsoring the food booths that will feature hot
dogs, barbecue, popcorn, beer and soft drinks.
There will also be children’s activities, games for all ages
and live entertainment.
For more information on Travisfest, call Cleta Bramlet at
the chamber, 263-3188. For more details on the chili cookoff,
call Coel at 266-3719 or Bramlet at the chamber.
Apple Computers
For Your Local Schools
See Store Manager
SUPPORT YOUR LOCAL BUSINESSES!
THEY HELP YOU PAY YOUR SCHOOL TAXES
“Real estate loans comprised
approximately 80 percent of the
bank’s loan portfolio,” the OCC
continued. "By Sept. 30. 1988,
the bank had incurred $2.2
million in loan losses. Eventual-
ly the losses exhausted bank’s
capital funds, resulting in in-
solvency.”
After its acquisition of
Lakeway National Bank, First
Commercial Bank had assets of
$60 million and capital of $3.5
million. It will assume $17
million in deposits and pay a
premium of $14,750 to the
FDIC. In addition, it will buy
$13.5 million of the failed
bank’s assets, including
$351,000 of its small loans. The
FDIC will advance $3.6 million
to the assuming bank
First Commercial Bank has
been in existence six years.
Rushing, who has been presi-
dent the past five years, said the
firm has 150 shareholders. Of
that amount, 99 percent live in
the Seguin area, making the
bank representative of the com-
munity.
A focus on the community is a
priority to Rushing, who in-
dicated the bank is enthusiastic
about the Lake Travis area.
Limit 4
with $10
Additional
Purchase
McBrides (
PAPER CLIP
3303 RANCH ROAD 620 NORTH
Austin, Texas 78734
(Continued From Page 1)
patently leaving, for the most
part, satisfied.
“They’re curious and con-
cerned, which is rightfully so,”
said Charles Rushing, president
of First Commercial Bank. “By
and large, the vast majority of
customers have been very easy
to deal with and have been very
positive. People are leaving be-
ing assured,” Rushing said.
The bank ordered cash above
and beyond the normal amount
usually kept on hand, and
Rushing reported no problems
in meeting the demand.
In the past, nine have been
employed at the bank.
“We haven’t really done
anything final with personnel at
this time. We don’t anticipate a
large change,” Rushing said.
The change in ownership
marks almost five years of
troubles for the bank.
Lakeway National Bank was
granted a charter in October
1981, and on Dec. 31, 1988, the
bank reported total assets of
$16.7 million. It had 4,200
deposit accounts. The bank
became a concern to the Office
of the Comptroller of the Cur-
Place:
Live Oak
Property Owners
Room — Lakeway
Drive
Date:
March 21, 1989
4:00 & 7:00 p.m.
t
3
)
1
Speakers
Sandra Vanway, CPA
Lance Hurley, CFP
Ken Vanway, Attorney
Cost: $10 per person
Spouse Attends Free
343-9151
620 Mall, 107 RR 620 S.
266-1040
Hours 9-6 M-F, 9-12 SAT.
Other hours available by appointment
Holly Farms or Pilgrim’s Pride
Mixed
Fryer Parts
Limit 3 Please
Open 7 Days a Week
2300 Lohmans Crossing
263-3181
Crushed
Wheat Bread
Mrs. Wright’s
,67«
necessity
never made
a good bargain.
Save Water Now.
TEXAS WATER DEVELOPMENT BOARD
P.O. Box 13231, Capitol Station
Austin Texas 7H711
5
THREE COPIERS TO SPEED YOUR SERVICEI
EASTER CARDS
ST. PATRICK'S DAY CARDS
“The area is a very viable
part of the world, or we
wouldn t have acquired it,” he
said.
V
•-M V
2 for
$3.00
rency (OCC) in 1984, according
to information provided by that
office. The board of directors
hired new management to ad-
dress the problems of the bank
at that time.
“The bank, however, was
unable to arrest continuing
deterioration in the loan port-
folio,” the OCC noted in a press
release. “The depressed eco-
nomic downturn in the Austin
real estate market magnified
the failure of previous manage-
ment and the board of directors
to supervise the lending func-
tion.
We’ll save you time We’ll save you money.
And, we’ll help you get the maximum
refund you’re entitled to.
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Lee, Diane. Lake Travis View (Austin, Tex.), Vol. 4, No. 4, Ed. 1 Thursday, March 16, 1989, newspaper, March 16, 1989; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1267562/m1/3/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting City of Lakeway.