Rains County Leader (Emory, Tex.), Vol. 105, No. 21, Ed. 1 Thursday, November 5, 1992 Page: 3 of 16
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Bank of America Texas
$1 Billion CRA Goal
DALLAS-Bank of America
Texas loday announced that it
has set a 10-year, $1 biilion
X goal for lower-income lending
l' programs in TExas following
its acquisition of First Gibral-
:: tar, FSB.
Ij “BankAmerica historically
has had a strong commitment
!; to community reinvestment
1; and we intend to build on that
I; commitment here in Texas,”
l* said David J. Berry, who will
Jj be president and chief operat-
£ ing officer of Bank of America
y Texas when the acquisition is
y complete. ‘‘We’ve set an ag-
;! gressive goal that indicates the
y depth of our commitment to
Texas. It’s also a sign of the
l- very significant and tangible
L benefits that low- and moder-
F ate-income communities will
L realize as we expand our pres-
> ence in the state.”
j; The $1 billion goal will be
F apportioned among home loans
•! in lower-income areas, primar-
y ily through the‘bank’s lower-
•: income home loan program,
y Neighborhood Advantage;
; conventional small business
loans under $50,000; construc-
tion and rehabilitation of low-
income multifamily housing;
* loans guaranteed through the
y Small Business Administration
and other government agen-
cies; and consumer credit to
T low- and moderate-income
% customers through BASIC, a
Especial lower-income con-
"y sumer loan product that carries
y modified underwriting criteria.
y Berry said one of the bank’s
[: top priorities in Texas has been
%to develop a comprehensive,
^statewide program in support
yof the Community Reinvest-
';ment Act (CRA). Since emer-
ging the Texas market, the bank
<' has taken a number of steps to
address specific community re-
investment needs.
The bank has appointed
^neighborhood development of-
fleers for each of its six dis-
tricts. These officers are re-
sponsible for building bridges
> with local government officials
f^and neighborhood and com-
T^munity groups, and developing
‘^products that respond to local
♦'credit needs.
% The bank also has recently
^introduced two products spe-
cially aimed at lower-income
^households. Through the
;*BASIC consumer lending pro-
“•gram, the bank offers fixed-
•rate auto loans to creditworthy
flower-income applicants who
Nmight not qualify for standard
/loans because they lack a for-
mal credit history or have a
,’non-traditional employment
^profile.
I- The bank’s Neighborhood
;Advantage home loan program
:1s designed to help put home
Ownership within reach of
;more lower-income Texans.
•;Thc program allows a higher
.'Hebt-to-income ratio for bor-
rowers than standard loans do
:and waives the requirement for
;cash reserves at closing. These
^features help lower-income
;homebuyers qualify for a mort-
%
PUBLIC
NOTICE
Notice of Bids
Emory Fire Dept, will be
Taking bids on a 1960 16-ft.
Texas Maid boat and trailer,
a very clean boat with a 40
4i.p. outboard motor. The
f>oat was donated to fire de-
partment by Woody Morris
pf Emory. The boat will be
Available for viewing at the
"fire station. We will take ver-
bal or written bids until Nov.
79th, 1992. Any interested
bidders may submit their
t>ids to any fireman or call
'473-2915 8 a.m.-5 p.m. The
Emory Fire Dept, reserves
:<he right to reject any and all
bids.
EMORY FIRE DEPT.
Moving
Sale!
Only 3
doublewides left.
Must move
before 1 Nov.
SAVE! SAVE!
SAVE!
1-800-460-3141
gage with less income and ad-
dress the rising cost of hous-
ing.
The bank also plans to estab-
lish an office of Bank of Amer-
ica State Bank in Texas. BofA
State Bank specializes in com-
munity development financing
for the construction and reha-
bilitation of low-income multi-
family housing and small busi-
ness loans.
In addition Jo the $1 billion
lending goal, which covers
"core” CRA programs. Bank
of America Texas will contin-
ue to enhance several other
programs that benefit the credit
needs of lower-income com-
munities, including equity and
debt contributions to commun-
ity development corporations
and grants to nonprofit corpor-
ations.
Bank, of America Texas be-
gan operations on May 9,
1991, when BankAmerica ac-
quired certain assets and liabil-
ities of Village Green National
Bank of Houston, Texas, from
the Federal Deposit Insurance
Corporation. It acquired cer-
tain assets and liabilities of
Commerce Federal Savings
Association on July 12, 1991,
and of Sunbelt Federal Savings
on April 10, 1992, both from
the Resolution Trust Corpora-
tion. In September, the bank
announced that it had signed a
definitive agreement to acquire
substantially all of the Texas
branches and deposit liabili-
ties, plus certain assets of First
Gibraltar Bank, FSB.
Bank of America Texas cur-
rently operates 130 branches.
Build
East Texas
Annual Meeting
OVERTON-Thc Build East
Texas Annual Meeting, sched-
uled for Nov. 13 in Tyler, will
give an indepth look at "East
Texas Agriculture...The Fu-
ture is Now.” •
The meeting is scheduled at
Tyler Junior College Regional
Training and Development
Complex, located on the inside
of West Loop 323 in Tyler,
just north of SAM’S Wholesale
Club. Guest parking is avail-
able in the Student Parking
area of the Complex. On-site
registration begins at 9:00 a.m.
and the formal program starts
at 9:30 a.m. The meeting ends
at approximately 2:15 p.m.
A barbecue plate lunch by
Stacey’s of Jacksonville is in-
cluded in the $15 per person
registration fee.
“Many issues are critical to
the East Texas economy,” said
Glenn Richardson, chairman.
“We think the speakers offer
the type of expertise to really
get down to earth on how the
future of the area is tied to
these issues and what can be
done to improve the status of
agriculture and natural re-
CARDS OF
THANKS
Thank You
A special thank you to all
those who helped with food
and for the beautiful flowers
while l was in the hospital.
Thanks to some special ladies:
Margaret Briggs, Pam Camp-
bell, Betty Tidwell, Phyllis
Friday, Helen Dabbs, Jan-
nette Stanley and Janice Mar-
tin. You are very special to us.
Linda & Ray
Franklin
Card of Thanks
I want to thank the Emory
ambulance crew and all the
folks who came to me and
helped when I had the wreck
with the white truck. Thanks
again.
Rachel Keeler
Rt. I, Box 139
Point, Texas
Thanks
Thanks to my family and
friends for the prayers, phone
calls, visits, food, flowers and
cards since I had eye surgery.
It’s doing good, thanks to the
good Lord. God bless you all.
I love you,
Lillie Gordon
-tfV W^fREEP TEXAS
CLEAN ❖
£
^ Search lor 1992 Rural Hero
WHEN VISITING Fori Worth’s Historical Stockyard District,
it’s easy to relive days past when trail drives thundered through
this part of Texas. The feel of the Old West is captured here in
Western-style stores, restaurants and honky-tonks, and even a
hotel done in all-Westem motifs. Rodeos and other western-
themed events further augment the Old West feeling of this part
of Cowtown. The district is located just north of downtown Fort
Worth. Texas Dept, of Commerce photo by Elizabeth Grivas
RAINS COUNTY
LEADER
Emory, Texas Thursday,
November 5,1992 -Page 3
sources.”
The BET organization is ac-
tively supporting sponsorship
of the Texas Agricultural Life-
time Leadership (TALL) Pro-
gram. During the annual meet-
ing, a baseball autographed by
Nolan and Ruth Ryan of the
Texas Rangers will be auc-
tioned off to the audience. Pro-
ceeds from the auction will be
donated to support of the BET -
TALL Scholarship Program.
The day’s program begins
with a short BET business
meeting and election of offi-
cers and directors. Dr. Russell
Cross, Administration of Food
Safety Inspection Service with
the USD A in Washington,
D.C., will speak on “Ensuring
Meat and Poultry Safety.”
Other presentations include
“Supplying High-Quality Lean
Beef” by Rodney Spencer, a
top executive of L&H Packing
Company and Surlean Meat
Company in San'Antonio; and,
“Where are the Trees?-A
Report on the Southern Timber
Survey” by Roger Lord, staff
forester with the Texas Forest
Service in College Station.
During the luncheon, the
BET V.A. (Bill) Clements Me-
morial Award and the BET
Award of Excellence in Agri-
cultural Research and Exten-
sion will be presented. Key-
note speaker for the luncheon
is Dr. Paul Risk, T.L.L. Tem-
ple Professor of Forestry, Ste-
phen F. Austin State Univer-
sity in Nacogdoches. His topic
will be “Current Environmen-
tal Issues and Conflicts."
The annual meeting is spon-
sored by the Build East Texas
organization and the Texas Ag-
ricultural Extension Service.
BET encompasses 37 East
Texas counties. It is designed
to conduct programs which
promote and enhance agricul-
ture and agribusiness in East
Texas and the state.
CttytOK
CARPETS
“ Better Carpets
for Better Homes ”
4112 Oak Lawn at Wycliff
Dallas 526-7405
WACO-The search is under
way for the rural hero for
1992, according to Ben Bul-
lard, president of the Texas
Farm & Ranch Safety Council,
which presents the annual rural
heroism award.
The 1992 recipient will be
announced March 22, 1993, at
the 55th annual Texas/South-
western Safety Conference and
Exposition to be held at the
Unemployment
Here Rises
Slightly
“This doesn’t look good,”
Commissioner Mary Scott
Nabers said as the Texas Em-
ployment Commission re-
leased employment figures to-
day. “Unemployment in Texas
rose from 6.7 percent in Au-
gust to 7.5 percent in Septem-
ber,” she said.
“There were 651,300 job-
less Texans in September, an
increase of more than 64,000
from August,” Nabers said.
“We know there are going to
be fluctuations each month
when we look at unemploy-
ment rates, but a 7.5 percent
rate represents quite an in-
crease, especially when you
think of this number as being
men and women trying to find
work. <\
“Seasonal drops related to
summer employment are not
all that uncommon at this time
of year. Vacation activity gen-
erally slows at the end of the
summer. People begin to stay
home, resulting in a slow-
down in transportation and ser-
vice industries," Nabers said.
Rains County was reported
as having a civilian labor force
of 2,619, with 2,450 employed
nad 169 unemployed, for a 6.5
percent unemployment rate, up
slightly from the 6.2 percent
rate for August.
Total employment declined
to an estimated 8,076,800
workers, dropping from
8,178,000 workers in August.
Seasonal employee reduction
occurred in the construction,
transportation and public utili-
ties, and service sectors. Job
losses in these industries were
offset by heavy gains in state
and local government, where
staffing for the fall semester
added a large number of new
jobs.
All of the state's 27 metro-
politan areas saw an increase in
September unemployment.
Texas’ highest MSA unem-
ployment rates were in McAI-
len-Edinburg-Mission at 17.1
percent, Brownsville-Harlin-
gen at 11.9 percent, and El
Paso at 10.7 percent.
The Bryan-College Station
MSA had the lowest rate in
Texas at 4.0 percent. That area
has remained lowest in unem-
ployment among MSA’s all
year. The Austin MSA had the
second lowest September rate
at 5.0 percent, followed by the
Amarillo MSA at 5.4 percent.
Austin Convention Center in
Austin.
Deadline for submitting
1992 entries will be Feb. 1,
1993, Bullard said. Send all
nominations to the Texas Farm
& Ranch Safety Council, Box
2689, Waco, Texas, 76702-
2689.
To qualify for the honor, a
candidate must have performed
an heroic act of human life-
saving within Texas during
1992. Preferably, it should be
related to farming and ranch-
ing, Bullard said.
The 1992 winner was John
Michalak of Lott, Texas, who
took the lead in rescuing his
boss and fellow cowboy from
floodwaters on "Big Creek”
south of Marlin in December
1991. He received his award at
the Westin Galleria in Houston
last March.
Nominations should include
a written account of the inci-
dent and the names, addresses
and telephone numbers of all
persons involved. Newspaper
clippings and photos should al-
so accompany when available,
Bullard said.
STATI FARM
*J|b
INSUftANCK
__ «
State
Farm
Sells
Life
Insurance.
473-2553
117 N. Texas St.
Emory, TX 75440
State Farm Life Insurance Company
Home Office: Bloomington. Illinois
WASHERS REFRIGERATORS
DRYERS FREEZERS
“All Work Guaranteed”
ATS
Appliance Service
Rome Phone 473-4680
Business Phone 473-3871
Serving Rains County Since 1987
Whatever causes you
are giving to now, set a
goal to increase your
giving to a level that will
make a permanent and
positive difference.Give
Five - 5 hours a week
and 5% of your income.
The rewards will make
you feel like a winner
every day of your life.
For more information,
call 1-800-55-GIVE-5.
.T\
t^iwFree.
WhalT^^lbach aimu&urabie
Emory Drive-In
Grocery
473-2144
Fishing Tackle
Minnows - Worms
Shrimp ■ Etc.
We now have Diesel!
Lottery Tickets?
16-os. Coca-Cola 39C
16-oi. Dr. Popper 391
M
A Pubic Service
o! Th* Publication
Five hours a week and
five percent of your income.
INWPFN0ENT
SECTOfl
Thelma’s Old-Fashioned Lemonade
We now have
Soft-Serve lee Cream
Emory
903/473-2611
LOBBTi
Mon.-Thurs.
9 a.m.-3 p.m,
Friday 9 a.m.-3 p.m.
& 4 p.m.-6 p.m.
MOTOB BANK!
Mon.-Thurs.
8 a.m.-5 p.m.
Friday 8 a.m.-6 p.m.
KM* depositor ImaatoJ to ll«UN
FDKs
NATIONAL BANK
EMORY, TEXAS
Two Convenient Locations:
Riba Branch
903/765-2920
We will be
closed Wednesday,
November 11th, in
observance of
Veterans Day
LOBBTi
Mon.-Thurs.
9 a.m.-2 p.m.
Friday 9 a.m.-2 p.m.
& 3 p.m.-6 p.m.
MOTOB BANKi
Mon.-Thurs.
8 a.m.-3 p.m.
Friday 8 a.m.-6 p.m.
fit
EQUAL HOUSING
OPPORTUNITY
Equal Opportunity
Employer
P. O. Box 570 Emory, Texas 75440
(903) 473-4292
• Follow Me Roaming • Motorola Certified Technicians •
Detailed Airtime Billing N/C • Toll Free 911 Calls •
Complete Selection of Accessories • Custom Calling
Features • Installation at Your Site Available • Free
Demonstration • No Administrative Charge tor Roaming
Charge for Completed Calls Only
$5995
Down with approved credit
includes activiation, first
month of economy level serv-
ice and tax followed by 11
monthly payments ol $59.95.
Includes monthly service
Features:
• 16 Hours Stand-by
• 30 Number Memory
• 90 Minute Talk Time
Includes:
• Charger
• Battery
• Case
(903) 878-2197
102 N. Stephens • Quitman
)
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Becknell, Kathleen Hill. Rains County Leader (Emory, Tex.), Vol. 105, No. 21, Ed. 1 Thursday, November 5, 1992, newspaper, November 5, 1992; Emory, Texas. (https://texashistory.unt.edu/ark:/67531/metapth764722/m1/3/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Rains County Library.