TAMMS, ILL., BANK LOOKS AT HOME IN CAPE

TAMMS, Ill. -- Tamms State Bank is looking at the Cape Girardeau banking market.

The Illinois bank is seeking a new name, a national charter and new headquarters site in a new state.

"We have applied for permission to convert to a national banking association," said John Abercrombie, president of Tamms State Bank, currently headquartered at Tamms.

With approval by the Office of the Comptroller of the Currency at Chicago, the state bank will become Capaha Bank, National Association.

"We have also filed for permission to relocate the main banking office of the converted national bank from Tamms to Cape Girardeau and maintain the Tamms facility as a branch bank," said Abercrombie. The new bank at Cape Girardeau will be located at 3168 Route K, which previously housed a former Savings of America branch.

The site has been vacant since early 1994. The Cape Girardeau branch of Savings of America was purchased by Roosevelt Bank in November 1993, and moved the next year into a facility at 211 S. Silver Spring Roads.

Abercrombie is hoping for a November opening in Cape Girardeau.

The Office of the Comptroller of the Currency, a national bank regulatory agency, will allow a 30-day comment period for the application, with a ruling expected within 90 days

Abercrombie, who has been in banking 23 years, is looking forward to the new operation.

"I think we have a great location as a new player in the market," said Abercrombie, who is familiar with the business scene in Cape Girardeau. "A feasibility study indicated that the site has good visibility and accessibility."

"I'm really pleased to be looking at the Cape Girardeau market," added Abercrombie. "I have lived in Cape Girardeau since 1973. The idea is feasible, and I'm already familiar with the community."

The new bank would result in at least a half-dozen new jobs.

Only a minimum amount of remodeling, mostly interior, is necessary at the new facility, which has been leased from Savings of America, St. Louis, for two years, with lease options.

"This gives us flexibility for the future," said Abercrombie. "We may look at the possibility of building a new headquarters building. We've been looking at Cape Girardeau for a while. The first step in our efforts was to convert to a national charter."

Under the current "30-mile rule," the bank can move its headquarters across the state line when it becomes a national bank.

Tamms State Bank has been in operation 41 years, receiving its state charter in 1955.

J. Reid Abercrombie, John Abercrombie's father and currently a member of the bank board, was a prime mover in organizing the bank. "At the time, my father was a Tamms businessman," said Abercrombie. "Although he had nothing to do with the bank operation, he recognized the importance of a bank for Tamms."

It wasn't until 18 years later, in 1973, that J. Reid and John Abercrombie purchased the bank. And 10 years after acquiring the bank, they entered the Cairo market with a branch operation.

Officers of the Tamms bank operation include Pam Abercrombie, vice president and commercial loan officer; Kevin Essner, vice president and farm loan officer; and Charlotte Unterreiner, cashier.

BANKING CHANGES

The Cape Girardeau County banking scene has changed over the past half-decade. Consumers in the county still have seven banks and a total of 22 places they can conduct bank business.

Banks and branches in Cape Girardeau County in May of 1996:

* Boatmen's Bank, 1001 William, main bank -- total of eight locations, five in Cape Girardeau, two in Jackson and one in Fruitland.

* Mercantile Bank, 325 N. Kingshighway, main bank -- three locations in Cape Girardeau.

* South East Bank, 111 S. Broadview -- one location in Cape Girardeau.

* First National Bank, 2027 Broadway -- one location in Cape Girardeau.

* Commerce Bank, 160 S. Broadview -- Two locations, one each in Cape Girardeau and Jackson.

* Union Planters, 407 N. Kingshighway, main bank -- six locations, three each in Cape Girardeau and Jackson. Union Planters, headquartered in Memphis, Tenn., purchased Capital Bancorporation, assumed operations in Cape Girardeau Jan. 1, 1996.

* Roosevelt Bank, 211 S. Silver Springs Road -- one locations in Cape Girardeau. Roosevelt Bank, headquartered in Chesterfield, acquired the Cape Girardeau branch of Savings of America in 1992 and acquired Farm & Home Savings in November of 1993, moving into the former Farm & Home facility in early 1994.

* Capaha Bank, National Association, currently a state bank at Tamms, Ill. Capaha is seeking a national charger, and will relocate its headquarters here later this year.

Cape Girardeau County Banks in February of 1992:

1. Boatmen's Bank, six locations.

2. Mercantile Bank, three locations.

3. South East Missouri Bank, one location..

4. First National Bank, one location.

5. Capital Bank, six locations.

6. First Exchange Bank, four locations.

7. Amerifirst Bank, one location.