P agi : A4
J une 30, 1993 • Tiu- P ortland O bserver
KeyCorp To Acquire Jackson
County Federal Bank
V ic to r J R ile y .J r. the chairm an,
president and c h ie f executive officer
o f K eyC orp and Carl D Gustavson.
the chairm an o f Jackson Counts fe d
eral Bank (JCE), announced that a
d e fin itiv e agreement had been en
tered in to for K eyC orp to acquire
JCF Headquartered in Medford. O r
egon. JCE has $ ' 50 m illio n o f assets
and $517 m illio n o f deposits in eight
branches(Ashland. Jacksons ¡lie. Cen
tra l Point, Grants Pass (2)and Medford
(3 ) and three loan production offices
( M e d fo r d . K la m a th F a lls , and
Roseburg) in southern Oregon Upon
share The options w ould be exercis-
ableby KeyCorponly ife e rta in c o n d i
tions arc met
Consummation o f the transac
tion is conditioned on. among other
things, the approval o f JCF's com
mon and preferred shareholders and
approval o f a ll applicable regulatory
authorities W hile no assurance can
be given that the transaction w ill be
consummated, or. i f consummated,
concerning the tim e fram e under
w h ic h it w o u ld be c o m p le te d .
KeyCorp's management anticipates
t hat the closing w ill occur on or before
the merger. JCE ssould be made part
o f the $ 1 8 b illio n Key Bank o f O r
egon
In the merger. JCE common stock
holders and preferred stockholders
w ill receive KeyCorp common slock
based on a value o f $15.00 for each
outstanding share o f Jk I common or
preferred stock The indicated total
value o f the transaction is $49 1 m il
lio n . The number o f KeyCorp shares
to be issued in the transaction w ill be
determ ined in a twenty trading day
p ric in g period ending on the filth day
p rio r to the merger date, and varies
based on Key C orp's av erage closing
stock price in New Y o rk Stock E x
change composite tra d in g d u rin g that
period However, the value o f each
KeyCorp share so determined w ill be
lim ite d to no more than $42.50 and no
less than $34.50.
JCF has issued options to Key
Corp to acquire up to 19.9“ .. o f JCF's
com m on stock at a price o f $ 13 00 per
D ecem ber 3 1 .1 9 9 3 .
"This represents a m eaningful
extension o f our marketplace in O r
egon." Riley commented. "J C F ’ s fine
franchise serves areas not currently
serviced by Key Bank o f Oregon.’’
Said Gustav son, "W e look forw ard to
becoming part o f A m erica s neigh
borhood bank' W ith the backing o f
KeyC orp's $.32 b illio n o f resources,
our customers w ill enjoy an increased
array o f products and services.”
KeyCorp (N Y S E :K E Y ) w ith as
sets o f ov er $30 b illio n is a m u lti-
regional bank holding company head
quartered in A lbany. New Y o rk It has
focused its banking expansion ac tiv i
ties in the Northeast and Northwest.
As "A m e rica n 's neighborhood bank,”
KeyCorp pursues a m iddle-m arket
target concentrating its resources in
cities and sm aller com m unities o f the
northern tie r o f states, thus avoiding
overcrowded marketplaces and single
industry loan exposure
Estuary Fishing
Restrictions To Help
Wild Coho
l lus summer and fall the ex
pected sport catch o f w ild coho in
coastal estuaries I k *,ween Cape Fal
con and Cape Blanco w ill be reduced
by several thousand fish That w ill
equal several thousand more fish on
spawning grounds this fa ll, and a
much-needed boost to d e clin in g w ild
coastal coho populations, according
to the Oregon Department o f Fish and
to b u ild a Center for S elf Enhance
ment at U nthank Park The co ntribu
tion is specifically earmarked to set up
and stall’ a health resource center for
SEI children and neighborhood fa m i
lies The Sisters o f Providence, w hich
has a mission to serve underprivileged
com m unities, also is c o n trib u tin g a
total o f $115.000 over three years to
operate the health facility
Tentatively scheduled to open in
1994. the Center for S elf Enhance
ment health facility w ill be staffed by
a nurse practitioner who w ill offer
fundamental prev entive sen ices, such
as basic checkups, im m unizations,
first aid and referrals The center w ill
also offer literature and audio visual
m aterials to improve health aware
ness
"T h is center w ill be a way for us
to d eliver basic, preventive sen aces to
ch ild re n and their fam ilies at a loca
tio n that is both convenient to and
w ell-rccognizcd by people liv in g in
north and northeast Portland.” said
Jack Friedman. C h ie f Development
Office i lor Sisters o f Providence Health
Plans. "The result w ill be more acces
sible and cost-effective health care "
"We are very grateful for Sisters
o f Providence s com m itm ent to mak
ing healthcare m orcavailablcto people
w ho liv e in northeast Portland, through
this community-based fa c ility ." said
Ray Leary. S E l's director o f develop
ment For many people in the neigh
borhood. this center w ill be the first
place they tu rn to w ith basic health
care questions.”
Services w ill be free. W h ile spe
c ific operating details o f the health
center arc s till begin developed, its
mission is broader than healthcare
services: the center also w ill be a
health-career resource for SEI stu
dents
" A key goal o f SEI is to teach
children that life has options.” ac-
cordingtoS E I President Tony Hopson.
"W e want to provide our students w ith
inform ation about the array o f health
career options for them, and that it's
never loo early to begin planing for
life after h igh school."
S ETs C a p ita l C a m paign has
raised more than $3 m illio n for the
Center for S e lf Enhancement A p
proxim ately $8.4 m illio n is needed to
b u ild the center; $7.5 m illio n is rc-
anger to birds
I li is
might lake the form
W ild life .
New. restrictive salmon bag lim
its and a reduced number o f fishing
day s m bay s are companion measures
w ith the most lim ite d ocean sport
salmon season in Oregon history A ll
rules are designed to get the greatest
possible w ild coho spawning return
w hile a llo w in g some sport harvest to
continue The Oregon Fish and W ild
life Commission has approved the
fo llo w in g regulations fo r estuaries
betw een Cape Falcon and Cape Blanco,
w hich go into effect Julv I
of m oving a p ole,
h u i 1J i n g s u ita b le
a lte rn ativ e nesting
nea rh v , o r o th e r
strategies.
Monte Garrett
Wildlife Biologist
A nd t n r e e ...we
?.. x
t our own employ
ees involved in under
Paton Jewelers
DIAMONDS WATCHES
JEWELRY • DIAMOND SETTING
Watch and Jewelry Repairing
Remodeling and Manufacturing of Fine JeweJry
281-8801
4616 N.E. Sandy Blvd.
the eyes and ears of
d anger when they
the company when it
choose to build pole-
co m es to w ild life
t i o n .
top perches near power lines
mnel that go out there and
PaciliLorp wildlife biologis
nesting platform s or
deals firsthand with how to
ing number o f corporations that sup
port S E I'sC a p ita l Campaign, in clu d
ing U.S. Bancorp, Standard Insur
ance. First Interstate Bank and Bank
o f America
Founded in 1981. SEI operates in
partn e rsh ip w ith P o rtla n d P ublic
Schools on the campuses o f seven
northeast Portland schools. The focus
o f the SEI program is on improv ing
grades and attendance, b u ild in g self
esteem and ercati ng career opportuni
ties. SEI currently serves 700 stu
dents. grades 3-12. each year; the new
Center for SelfEnhanccmcnt w ill triple
that capacity .
The Sisters o f Prov idence health
Sy stem includes Prov idence Medical
Center, P rovidence-M ilw aukie Hos
pital. St. Vincent Hospital and M e d i
cal Center and Sisters o f Prov idence
Health Plans in Oregon The Sisters o f
Prov idence hav e been prov iding health
and com m unity serv ices in the Pacific
Northwest since 1856.
can t s a v
nough about our own per-
M o n te
quired to operate it for the firs t five
years SEI expects to break ground
this y ear, w ith com pletion scheduled
fo r 1994 L o ca te d in n o rth e a st
Portland's Unthank Park, the Center
w ill also include classrooms, com
puter labs, a library and a perform ing
arts center.
Sisters o f Providence jo in s a grow
nd being
standing
Sincfe 1948
Sisters Of Providence And Self
Enhancement, Inc. Announce Health
Resource Center For Northeast Portland
Sisters o f Providence Health Sys-
tems/Oregon and Sell Enhancement.
Inc. (SEE) hav e forged a unique part
nership toprovide im proved and more
accessible preventive health care to
residents o f north/northcast Portland
Sistersol Prov idence has donated
$ 100.000 to the SEI capital campaign
situation« that pose a
modifying poles to make them safer for birds. It s a team
prevent accidental contact of birds and power lines.
O ur effort to minimize contact accidents
effort that is paying off in reduced bird mortality.
Pacific orp s wildlife biologists, like Monte, provide
is pretty straightforward:
One, we rely on a close working
the right kind of energy to find wavs to protect birds, hut
re la tio n s h ip w ith local w ildlife
are also actively involved in programs associated with
The Peregrine Falcon agencies and other ¿roups to help us
fishery enhancement, land management and overall envi
cun dive at a
.
. .
breathtaking
,.
.
. .
.
discover where problem* might exist.
I75mph
ronm ental stew ardship on al
Tw o, we m o v e to c o r r e c t
#
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Crime Stoppers Case For
The Week Of June 28, 1993
Crime Stoppers Case #93-26: Homicide
Portland Police Bureau Homicide
Detectives, in cooperation w ith C rim e
Stoppers, arc asking for your help in
solv ing a murder
On Tuesday, June 15, 1993, at
approximately 3:23 in the afternoon,
the body ofLaw auna Janclle T rip le t, a
29 year old black female, was found
p a rtia lly clothed, in the bushes near
N. Concord Avenue and N G oing
Court A ccording to the Oregon State
M edical E xam iner's Office. Lawauna
T rip le t died from abdominal injuries
and strangulation
Alberta
H o m ic id e In v e s tig a to rs have
C rim e Stoppers is o ffe rin g a cash
been able to establish that shortly
A
1,.
t
a
.
K .u rcw ard° fu p to $ L000 fo r info rm a tio n
after M id n ig h t, on Tucsdav. June 15th, i PaH in n t„.,„
L ____ J
L
, leading to an arrest in this case, o r any
the same day her body was found.
unsolved felony crim e, and vou need
Lawauna T rip le t was seen w a lkin g
not give your name C all C rim e Stop
westbound on N. E. Alberta Street,
pers at 823-HELP
from N. E. 16th Avenue, after having
stopped earlier at tw o tav erns on N.E.
Tropicana
Restaurant
9 a m - 11 p m M o n d a y th o u g h S a tu rd a y
503/281-8696
9 a m - 9 p m S u n d ay s
K B O O -F M
U sed b o o k s b o u g h t every day till 8:30 PM
O n th e # 2 0 B us line • O n e h o u r free p ark in g
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1993
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