New Braunfels Herald Zeitung, October 15, 1993

New Braunfels Herald Zeitung

October 15, 1993

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Issue date: Friday, October 15, 1993

Pages available: 16

Previous edition: Thursday, October 14, 1993

Next edition: Sunday, October 17, 1993 - Used by the World's Finest Libraries and Institutions
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Publication name: New Braunfels Herald Zeitung

Location: New Braunfels, Texas

Pages available: 164,099

Years available: 1952 - 2013

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New Braunfels Herald-Zeitung (Newspaper) - October 15, 1993, New Braunfels, Texas FRIDAY Rangers look for big upset against Unicorns to COUNTDOWNi 428 DAYS March 21 1845 March New Braunfels HeraldZeitung 16 Pages In one section Oct Serving Comal County Home of MELBA ROTH Cll9 I Vol 141 No 233 INSIDE Sports 11 S TAMMTISCH Birthday wishes The New Brawtfels Herald Zeitung extends the following birthday wishes Christopher Muschalek Jeanette Prell Pedro Martinez Israel Lara Metta Roth Eddie Kearns AVandro Alex Gonzalez Jutte Wallace Becky Crabitt Mori Diaz Jacqueline Joy West Gilbert Hernandez Aurora Sallzar Happy Anniversary to George Irma Aleman Theora Johnnie MonAln Michelle Scott Voges Gilbert Louisa Alvarez NARFE meets New Braunfels Chapter No 666 of the National Association for Retired Federal Employees will meet Friday Oct IS at the Senior Citizens Center 855 Lan da Street at am A New Braunfels police officer will pre sent a program on protecting your home when you are away and Congressional legislation will be scrutinized Everyone is invited Coffee and refreshments will be served Call Wilbur Wieding at 6296522 Smphony Guild Members Of the New Braun fels chapter of the Symphony Guild will begin sell ing raffle tickets to benefit the symphony First prize is a round trip for two anywhere in the contiguous United States donated by Ameri can Airlines and Rennerts Trav el Second prize is a gift certifi cate for in merchandise from the merchants of Landmark Square Other prizes are a night for two at the River Haus Bed and Breakfast and a Thanksgiving floral arrangement from Weid ners Flowers Tickets are or six for and are available from Guild members or at First Choice at Landmark Square the Childrens Museum Henne Hardware China N1 Things and the Retreat Salon The drawing will be held Nov 14 following the symphony con cert at the Civic Center A Taste of Theater to be presented A Taste of Theater from The Dining Room of Gumey will be presented by retiring offi cers of the Book Review Club at its last regular meeting of the year Tuesday Oct 26 Those presenting excerpts from the play are Lucille Douma Joyce Billingsley Sue Luttrell Nancy and Howard Schultz and Marty and Dick Weicker The slate of officers for 1994 includes Doris Amacher president Linden Anderson vice president Shirley Brooks trea surer and Isabel Magel secre tary The program is at in the ballroom of the Senior Citi zens Center with coffee at aon and short business meeting to follow the program The pub lic is welcome with a dona tion per person Stammtisch Tht Ntw Braunftls HtraldZtitiutg iitvitti Ot rtadtrt to mbmit ittnu to Stammtuch According to tht Sopkimburg Archivtt and numbers of tin Gtrmm community Slammtach rtprtitnti o sifting fleet for mtmbtn oftkt community to gather and thart tht dayt Wt bvitt you to Plaza Bank closed Banks customers now in hands of Texas Commerce ByMARKLYON Managing Editor New Braunfels second oldest bank Plaza Bank was closed at the end of the business day yesterday and reopened this morning as part of Texas Commerce Bank New Braunfels according to TCB chairman and CEO Bob Smith Plaza Bank was closed by the Office of the Comptroller of the Currency OCC and the Federal Insurance Deposit Corp FDIC was named receiver Texas Commerce Bank assumed the insured deposits of Plaza Bank totaling approximately million and assets worm approximately million from the FDIC Texas Commerce Bank agreed to pay a million premium to the FDIC according to Smith The action now makes Texas Commerce Bank the largest bank in Comal Coun ty with deposits in excess of mil lion Plaza Bank which had assets of about million was closed by the OCC because the bank had incurred losses that depleted all of its capital an FDIC spokesman said The losses were related to MBank Dallas which failed in March 1989 Plaza Bank which was then known as MBank New Braunfels had sold funds to MBank Dallas in 1989 and lat er claimed in a lawsuit that the FDIG owed them the funds it had sold to Dallas When it was determined that the FDIC was not required to give Plaza Bankthose funds Plaza Bank record ed the loss on its books The OCC then determined that closure and appoint ment of the FDIC as receiver was nec essary to protect the interests of the banks depositors According to the FDIC and the OCC accounts totaling exceeded the federal insurance limit of and will not be assumed by Texas Commerce The FDIC board of directors also voted to make a prompt advance pay ment to uninsured depositors equal to 70 percent of uninsured claims Unin sured depositors can call an FDIC claims agent at the failed banks main offices Friday Smith said he expects a smooth tran sition noting that Plaza customers should continue to use their current banking facilities as well as existing checks deposit slips ATM cards loan payment coupons and other related material Were very excited about Smith said Plaza Bank has a lot of great depositors and great customers Tomor row morning well be open for busi ness as usual Were looking to make this transition as smooth as Randall Haugh President of Plaza Bank said the bank was the only bank left in the MCorp holding company and that the only resolution was to sell it Our association with MCorp was the only he said It was a very wellrun bank We just were not paid back as other creditors were Im glad that it is over but sorry that there HeraldZeitung photo by JOHN HUSETH Joan Slocum Hannan pictured went to Plaza Bank to make a deposit late yesterday only to find her bank of 23 years had closed and that she was now a customer of Texas Commerce Bank of New Braunfels across the street She said she has kept a savings account checking account and a home mortgage for that length of time will be a vacant building on the Plaza The bank had a good position but this was the only way to do it Im real proud of our board of directors for see ing it T h e banks board of directors were Ray m o n d B ae se Mitchell J S a c co DDS Stan ley Wood ward Steve D At least 15 institutions all of them unnamed except Texas Commerce Bank submitted bids to obtain Plaza Bank Smith said Weve been looking at it for several he said Its been in the bid process Our association with MCorp was the only prob lem It was a very wellrun bank We just were not paid back as other creditors were Im glad that It Is over but sorry that there will be a vacant building on Taylor Jim Cornelius janeiie Randall W Haugh Berger President Plaza Bank number C r a i g o f for that long Were going to b e putting addition al capital on top There are a small Hollmig and Randall Haugh Smith echoed Haughs comments saying the reason this happened is due to old involvement with MCorp not because banking is weak here I dont see it as an indicator of weak deposits in question The FDIC will have contact people here in the morn ing to answer any Smith said that Texas Commerce did not purchase the building which Plaza Bank is located and that it would soon be vacated However the Plaza Bank Motor Bank was included in the deal and will be operated by Texas Commerce Bank Smith said that it will take about three months to trans fer all the accounts to Texas Com merce Bank and also noted that Plaza Bank customers will now be able to bank at any of TCBs 120 Texas loca tions Plaza Bank chartered in 1928 has 26 employees which Texas Commerce Bank will try to retain Smith said The bank began operating in 1921 as Guaranty State Bank and was acquired by MBank in 1986 and then became Plaza Bank in January of 1991 Smith who is heavily involved with the New Braunfels Main Street Project said he will be working diligently to find another tenant for the Plaza Bank building Texas Commerce Bank founded in 1881 is the oldest bank in New Braunfels When asked what his immediate plans were Haugh said he was going to enjoy living in New Braunfels and enjoy Wurstfest Past that I dont Haugh has served as president of Plaza Bank for the last seven years Banks closing brings surprise concern to many By ROSE MARIE EASH Staff Writer Local reaction to the closing of the Plaza Bank was surprise and concern for the future of the employees and the building Im said County Judge Carter Casteel MBank has been here all the years Ive been here The Plaza was a successful bank it was being part of MBank that led to this I am concerned about that large building being empty there That will affect the citys tax base Im hoping some one will get busy real quick to fill it As a community we need to do what ever we can to help find those people displaced Were as much surprised as any one in said Tom Purdum Pres ident of the Greater New Braunfels Chamber of Commerce We knew there was an attempt to sell but that was all we knew Were going to try again to fill the Fortunate ly we are adding jobs in town Our economy is picking up I think it is a setback but not a major I think its most important for peo ple to understand that the local board and the banks management have always done a good job with the said Bill Cone President of Citizens Bank The only reason it was the regulators was because of its ownership by a 6aUasi based multibank holding company If it had been locally owned it would still be here We hope that the ulti mate influence will be minor We know Texas Commerce will do as much as they can to assure Its said T L Walker Regional Director for Victoria Bank Trust In this case that bank was successful but they got caught up in a circumstance with their ownership Im very pleased that the assuming institution is a local one and there wont be a new player here I wish all of them the best of luck From a customers point of view I think that banking in New Braunfels will con tinue to move Its devastating news to the said Jan Kennady New Braunfels City Councilmember I bank there I feel like thats my banking home Im thrilled that TCB has bought it because the depositors will be safe Well have to regroup maybe we can all pull together to do something with that Kennady also expressed concern for the employees and frustration at the loss of a major downtown tenant Another customer expressed her disappointment at the Plaza closing Boy I hate to see this said Joan Slocum Hannan I know everyone here tellers the offi cers Ive been banking here for 23 years My house mortgage my sav ings my checking accounts are all Slocum had just made a deposit in the night depository when she learned the bank was closing She was able to speak to a Texas Commerce bank employee who assured her that her deposit would be safe By ROGER CROTEAU Nw Braunfels for two men who held using a tire iron last night mm Police said the clctk and another witness gave descrip tions of the suspects and the truck they fled in The police report states that evidence gathered from the store and from the witnesses should be helpful in the The two suspects entered the Pit Stop store at Walnut Street and Interstate 35 shortly after 11 Thursday ing for ft one pf the men brandished a twe iron at clerk Debbie Shepherd and demanded the money from the cash register awarding to a police report The report States of cash the men fled with has not been Jfo qne was injured in toe robbery was described as a white man 20 to 25 yean old with brown eyes short brown hair fivefeet 11 inches tall and 160 pounds He wore a bluejacket and jeans The second suspect is a white man 30 to 35 years old with blonde hair sixfeet tall 160 pounds and ing a stonewashed jacket and red baseball cap They drove a late 1970s white and brown Chevrolet fUU size pickup truck LookaLike deadline approaching From staff reports The deadline for entries in the Hum mel Museum LookaLike contest is quickly approaching Entries for the contest which will be held Oct 30 on the steps of the Hum mel Museum must be submitted by Oct 25 The costs will be held at 10 Contestants will be judged on the like ness to Hummel figurines Children who would like to enter should stop by the Hummel Museum and choose the figurine they would like to imitate The entry fee is per child Entries will be accepted in two cat egories individual figurines and group figurines Entry forms are available at the Hummel Museum Opas Haus or the Municipal Building at 424 Castell Street Proceeds from the event will be given to the Hummel Museum Grand prize winners in each cate gory will receive a savings bond from Citizens Bank Texas Commerce Bank or Victoria Bank and Trust Every entrant will receive a gift certificate from Opas Haus Buy it Sell it Trade it HeraldZeitung Classifieds Get Results 6259144 ;