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Friday, February 16, 1990 / University Daily Kansan
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Lawrence S&L is up for sale
Highest bidder will control Anchor Savings
By Chris Siron
Kansan staff writer
Anchor Savings, 900 Ohio St., was declared insolvent last year and is now up for sale.
In the midst of a national savings and loan crisis that experts say may cost more than $100 billion to resolve, a Lawrence thrift branch is for sale.
Anchor Savings, 900 Ohio St., and its controlling company. Anchor Federal, a Kansas City bank, declared insolvent last year. were
KANSAN photo
The Federal Home Loan Bank Board in Washington declared Anchor Federal insolvent after its net worth fell below requirements.
According to a report compiled in September 1989 by "Seshunoff S&L Quarterly Ratings & Analysis," Anchor Savings' net worth fell to negative 0.69 percent of its assets.
The board requires savings and loans, or thrifts, to have a net worth of at least 3 percent of assets, said Kim Gronniger, public information officer for the Federal Home Loan Bank Board of Tonkea.
Jim Thompson, deputy regional director of Resolution Trust Corp., the company charged by Congress to sell Anchor and other thrifts, said about 330 thrufs nationwide were being sold. He said the company was contacting hundreds of potential buyers of Anchor.
"The prospects for sale are very good." Thompson said.
He said the future of Anchor would depend on the intentions of the buyer. RTC plans to take bids
before March 31 from parties interested in controlling Anchor. The highest bidder will gain control of the thrif's property, deposits and debts.
"At that point they may consider renewing Anchor's charter or applying for a new charter as a bank or some other institution." Thompson said. "We hope it will be sold to place it back into public service."
George Nagel, RTC managing agent of Anchor, said the federal government assumed financial control in February 1989 and
began liquidating Anchor in August. He said that after liquidation Anchor stockholders lost their investments. Deposits in Anchor were protected by federal insurance.
"No private party stands to gain or lose money from the sale of Anchor," Nagel said.
Nagel said the highest bidder would pay RTC for the charter of a failed thrift. Because the thrift has no assets, RTC, through the federal government, pays the buyer cash to cover deposits.
Though a number of savings and loans have been charged with mismanagement, Nagel said he knew of no investigation of Anchor. Both Nagel and Thompson were comment on Anchor's manager.
Tom Koenig, manager of the Lawrence Anchor branch, said the circumstances of the sale were favorable.
"I think job security is sound," he said. "We're looking forward to reorganizing and serving Lawrence."
Number of Kansas doctors grows
By Steve Bailey
Kansan staff writer
The number of medically underserved counties in Kansas has decreased for the first time in five years, a University of Kansas Medical Center official said yesterday.
Ronald Spangler, director of the Office of Institutional Research and Planning at the Med Center, said the number of underserved and critically underserved counties in Kansas, dropped from 70 in 1988 to 61 in 1989, a 13 percent decrease. Kansas has 105 counties.
The status is determined by figuring the ratio of full-time physicians in the county to the county's population. The optimal standard for primary care is 67.5 physicians for every 100,000 residents.
Underserved counties have a ratio
of less than 37.1 physicians for every 100,000 residents. Critically under-served counties are those with a ratio of less than 33.3 physicians for every 100,000 residents.
served counties increased from nine in 1988 to 11 in 1989, an 18 percent increase. However, the number of critically underserved counties dropped from 61 in 1988 to 50 in 1989.
The number of underserved Kansas counties increased from nine in 1988 to 11 in 1989, an 18 percent increase. However, the number of critically underserved counties dropped from 61 in 1988 to 50 in 1989, an 18 percent decrease.
Nancy Miller, spokesman for University Relations at the Med Center, said a report on the status of Kansas counties was released Monday. Copies of the report were sent to Med Center administrators and health care programs throughout the state.
Spangler said the number of under-
an 18 percent decrease
The numbers indicate shortages of primary care physicians, which include family practice, general practice, internal medicine and pediatrics.
Spangler said this was the first decrease in the number of medically
underserved counties since 1984.
underserved counties since 1964. "Some of the less urban areas are starting to pick up a few physicians," Spangler said. "It's been slow, but there have been a few improvements."
In 1988, Kansas had 3,327 full-time equivalent physicans. In 1989, Kansas was served by 3,363 physicians.
Both figures include physicians enrolled in residency programs. Excluding residents, the number of full-time equivalent physicians increased by 12 from 1988 to 1989.
The Kansas Medical Scholarship program provides some relief for underserved counties. The scholarship provides a waiver of medical school tuition for students who agree to enter full-time practice in an underserved county.
MATHEMATICS PRIZE COMPETITION
Junior Level: Open to all undergraduates of non-senior standing.
First Prize----$75
Second Prize----$40
Senior Level: Open to all undergraduates.
First Prize-$100
Second Prize-$50
Both exams will be given on March 1, 1990 7-10 PM in room 109 Strong To participate you must register in 217 Strong by noon, March 1, 1990
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