Scholarship challenge honors Schultz' commitment to education

Northwestern Financial Review, Aug 5, 2000

The Illinois Bankers Association has honored its late president Finis Schultz by committing to raise more than $100 million in scholarships through a program named in honor of the Jerseyville banker.

The Finis Schultz Memorial Scholarship Challenge was created to help Illinois students seeking money for higher education. The IBA hopes to raise the money in the next 12 months, and already has come up with $12 million. Banks may participate in the scholarship challenge through the Community Bankers Scholarship Program, which is administered by Bank Compensation Strategies Group of Bloomington, Minn.

The 62-year-old Schultz, an advocate of education, was president of Jersey State Bank and the 1999-2000 leader of the IBA. He died on July 4, only days before he was scheduled to pass the leadership to Mark Hoppe of LaSalle Bank in Chicago.

"He was so committed to anything he believed in, his family, his community and his bank, and that included the IBA," said Jeff Rodman, IBA executive vice president. "He was always optimistic and very determined. If he decided to do something, he would get it done."

One example of Schultz' perseverance is the planned move of IBA headquarters from Chicago to Springfield. Rodman said that Schultz was a "big believer" in the move, which should be completed by the fall.

Although Schultz suffered from cancer, he expected to continue in banking and the IBA. Rodman was with Finis about a week before his death.

"We all thought he was recovering,' said Rodman. "They were optimistic about his prospects, and he was set to get active again in banking and the IBA. The idea was that he would be a very active past president. His outlook was always to look ahead. He didn't look back and was always positive. He was sure an inspiration to me."

In other news related to Schultz' bank in Jerseyville:

Jersey State Bank has named Leslie Flautt as its interim president after Schultz' death. Flautt has been an outside director for many years at Jersey State Bank, an institution his family helped found in 1903, said Bill Kolkmeyer, the bank's executive vice president.

The Flautt family is the major shareholder of the $95 million bank. Schultz became president of the bank in 1989.