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The St. Joseph County Library, as well as the Indiana University at South Bead Library, and the Mishawaka-
<br />Peon Library provide a wide range of h'brary services to reside~ats of the area..The St. Joseph County Library
<br />is currently aompletiwg S8 million of renovations and additions to several branches. One addition to the largest.
<br />library branch is completed, as is a parking lot addition at another location. ~"he 40,000 square foot addition to
<br />the main library is expected to be completed by late 1991 or early X99Z,
<br />,~NERAL ECONgMIC AND~TNANCIAI. I ORMATTON
<br />'Zhe following is a list of financial institutions in the City of South i3end. 'Z'otat resourcxs are reported as of
<br />September 30, 1990 ss follows:
<br /> Number of
<br /> Nusuber of Locations in Reported
<br /> J.~~tions SouthBcnd Re~nrces
<br />Standard Federal Bank 114 3 59,674,570,000
<br />First Source Bank 27 12 1,162,874,000
<br />Society Bank, Indiana 42 11 1,115,200,000
<br />Azneritrust National Bank, Nfiicbiana 27 1 1,009,036,000 (1)
<br />Valley American $ank & Tictlst Co. 20 8 524,564,000
<br />Norwest Bank Indiana 8 8 256,108,000 (2)
<br />Sobieski Federal Savings & Loan Assoc 4 4 65,841,000
<br />Midwest Commerce Bank 16 1 668,598,000
<br />Summit Bank of South Bead 1 X 1.9,7X3,000
<br />
<br />(1) Was fozxuerly known as I'ionecr Fcdcral Savings & Loan Association. Was bought out by Amcritrust
<br />May, 199(}.
<br />(Z) Was formerly known as First Interatafe Bank. Was purchased by Norwest on January 30, 1991.
<br />~~
<br />The industries of South $end manufacture a variety of products inc]uding engine controls, plastic pipes, vinyl
<br />sidi~og, electric switeiaes and gardem tractors. T}ae Micbiama azea provides varied employment opportunities. The
<br />average total employment as of August, 1991, was 130,1$0, wish an unemployment rate of 5.2°k as reported by
<br />the Indiana Departu~eut of 1~znpIoymeAt and Traisxi~ag Services. The attraction of new business and the
<br />development of four industrial parks has expanded the econozrzic base during the last five years.
<br />In early 1990, 54.4 million of Redevelopment District bonds were sold and will be used for the acquisition and
<br />demolition of the old industrial corridor that previously housed the Studebaker plant. Anew industrial park is
<br />currently being dcvcIopcd and will provide for more economic development opportunities izl South Bend.
<br />$endix Aviation .Corporation, initially an automotive brake factory is now a major part of Allied-Signal Tnc.,
<br />composed of fbrcc major businesses: aerospace, automotive, and engineered materials. Today, Bendix carbon
<br />brakes arc used in a number of commercial and military aircraft sud is a world leader m this field.
<br />Small manufacturing firms (50 employees or less) are a growing force iu, the area's economy with 80.8. percent
<br />of aII St. Joseph County manufacturing firms being within this category according to the Indiana Department of
<br />Employment and Traiuang Services.
<br />A-5
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