Věstník (Temple, Tex.), Vol. 80, No. 9, Ed. 1 Wednesday, February 26, 1992 Page: 4 of 16
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4/VĚSTNÍK—Wednesday, Febniary 26, 1992
whatever they do for the good of the
Order. I can telí you from experience
that the sales representative who gives
us a commitment of time and effort,
they will be successful. Our staff in
the field to assist the sales repre-
sentative is outstanding. SFM Gene
McBride in Districts 1 and 2 along
with State Field Representatives Keith
Gatewood in Districts 3 and 4, Helen
Hegwood in District 5, and Jerome
Hlavatý in Districts 6 and 7 háve
received many compliments for their
dedication and commitment to their
work for the SPJST. The biggest com-
pliment a person can receive is from
their peers. When sales representatives
call me at the home office and thank
me for alt the assistance they are
receiving from these field people, it
makes me proud of them. These folks
are crucial to the SPJST’s future.
I would like to give speciál recogni-
tion to a group of sales representatives
who attended all scheduled seminars
and produced at least eight issued in-
surance certificates (excluding an-
nuities). These people are the drones
of our sales force:
ÍTRICT
LODGE
NAME
1
17
SUSAN SKRABANEK
1
189
CLIFTON JUNEK
2
187
RUBIE VOLEK
2
87
LADIS NAVRÁTIL
2
29
ALBÍN machu
2
18
EVELYN GUSTAFSON
2
80
GLENDA LILES
2
174
DANIEL MAREK
3
54
FREDDIE KALUZA
3
84
BETTY OLSON
3
6
JOHNNIE KRIZAN
3
25
JOHNNIE KRAJCA
3
84
EMIL PETR
3
178
HUGO KOCIAN
3
25
ERNEST HASKOVEC
3
84
BEN JARMA
3
35
HENRY BREITKREUTZ, SR.
3
195
O.D. OTTE
3
66
JOHNNIE GAIDUSEK, SR.
3
154
MARY RENFRO
4
160
MARTHA BROŽ
5
88
FRANKLÍN BRAVENEC
5
88
MILDRED HOLEMAN
5
142
ROSIE TUMIS
5
196
EVELYN MIKESKA
5
139
LORENDA BALDWIN
5
88
EDNA WEHRING
5
88
TILLIE HELMCAMP
5
88
JEROME ERMIS
5
172
ALVIN SEFCIK
5
172
VICKI DRESSLER
5
139
HELEN FILIPP
6
30
ANNIMAE MERTA
6
40
JAMES BACAK
6
148
OLGA STEFFEK
6
40
FRANKIE VANĚK
6
40
RAY PILGRIM
7
133
JAROLYN POPP
7
31
MONTA FOSTER
7
137
VIOLA CABLA
I would also like to acknowledge the following group of sales representatives
who wrote in excess of one million dollars of insurance in 1991:
1991 SPJST SALES REPRESENTATIVES’
HONOR ROLL
OF
MILLION DOLLAR PRODUCERS
DISTRICT LODGE NAME
1 17 SUSAN SKRABANEK **
4 160 MARTHA BROŽ***
5 196 EVELYN MIKESKA ****
5 142 ROSIE TUMIS *
* second year million-dollar producer
**third year million-dollar producer
*** fourth year million-dollar producer
**** fifth year million-dollar producer
(Calculations ušed to determine million dollar producers are based on volume
of insurance written for 1991.)
SERVICE
The Insurance Department at the
lome Office prides itself in rendering
jrompt, personalized Service. Kathy
-ritz supervises the administrativě
:unction within our department which
;onsists of Doris Tyroch, Cynthia
3ravenec, and Lisa Kirby. Our under-
vriter is Ruth Hanusch. These people
:.re verv talented and také great pride
in their work. Through their efforts,
:he SPJST is abie to offer personalized
nember Services. Each one of these
:adies ís totally aware that when you
call with a. quesíion or inquiry iťs ira-
poríant to you. Iťs imporíaní to us too
so the response you receive will be
prompt and accurate. I assure you we
will help you in any way we can.
SUMMARY
The challenges SPJST faces today
are enormous. The economic trends in
our country are unpredictable. There is
no USSR. No Berlin Wall. Who
would/could háve predicted these his-
torka! changes? These uncertainties
cause a great deal of uneasiness on
everyone in a management posiíion in
today’s business world. Certainly, I
and the other managers of the SPJST
recognize our responsibility to our
members. We will keep the course of
success. There are twenty-one fraternal
benefit societies with an A.M. Best
rating of "A" or "AT." I am proud to
inform you that SPJST is one of those
twenty-one fraternals. There is no
fraternal domiciled in the State of
Texas with a higher rating than SPJST.
We háve and will continue to foster
excellent communicative relationships
with all other fraternal organizations
within the NFCA. The SPJST, by vir-
tue of my being elected více president
of the Fraternal Field Managers As-
sociation, can be proud of our involve-
ment in marketing trends within the
fraternal insurance industry. I can telí
you that the SPJST is in a very envi-
able position. I’m proud to be a part of
our achievements.
Fraternally,
Bernad M. Gebala
Vice President
—SPJST—
Leonard D. Mikeska
Secretary-T reasurer’s
Annual Report For
1991
Dear Members:
I look back at the past year with a
sense of gratitude for the many ways
so many of you háve helped to make
1991 a good year for the SPJST.
Thank you for your dedication. My
family and I wish you and your loved
ones an abundance of happiness and
good health throughout 1992.
The past year was a blend of good
news and bad news. Inflation remained
reasonable but look what happened to
the return on your savings. The news
media offered up a continuous flow of
gloomy news about the statě of our
economy and other problems. Things
were probably never as bad as they ap-
peared unless you were one of those
caught in the economic crunch and the
statistics took on a personál notě for
you. We will exercise due caution and
continue to hope for improvement in
the economy and a return to more
stability as we face 1992 with a
renewed spirit of enthusiasm.
HOW DO WE RATE. Prior to 1990,
no one paid much attention to the
financial status of insurance com-
panies. Now, we see our economy in
transition with insurance companies
and other financial institutions facing
crises of confidence. People are under-
standably iooking for reliabie evidence
of financial strength and stability in in-
surance companies before they commií
their řunds. Not all companies were as
successful as the SPJST in responding
to the challenges of this new environ-
ment.
Let us briefly look at some of the
reasons for the new focus on strength
and stability. With the advent of inter-
est-sensitive products, insurance com-
panies found themselves thrust into
something similar to banking. There
was stiff competition for money and
companies scrambled to pay the
highest yields. To earn the high yields
the competition was offering, they
turned to investments in more specula-
tive areas such as low grade junk
bonds, speculative loans and reál es-
tate with its promise of high returns.
All went well until the economy
turned. As some junk bonds, or high
yield investments as they were termed,
began to default, their value dropped.
As business became worse, many loans
became non-performing and reál estate
values declined. With the market value
of their investments dropping, some of
the companies playing this new game
faced the reál possibility of insolven-
cy. Others found themselves financial-
íy stressed. Although there was no
massive number of insolvencies, many
companies continue to be stressed.
The good news the SPJST has for
you is that our conservative investment
policies háve paid off. Since our loan
and investment losses háve been very
smail, we háve continued to receive an
"A" rating from A.M. Best and Com-
pany. Our bond portfolio is of high
quality and loan losses háve been very
low. More details follow.
INVESTMENT SUMMARY. During
1990, the SPJST reported a 9% net
return on assets. That return will
decrease only a smáli percentage in
1991 to a net return of near 8.8%.
Our total assets reported on a cash
accounting basis are $77,789,113.08.
The largest category of our invest-
ments is bonds with some $42.7 mil-
lion. Due to excellent quality of the
bond portfolio, its market value as of
yearend exceeds its book value by near
$1.5 million as reported in our annual
statement to the Texas Insurance
Department. The bond, portfolio car-
ries a minimum of interest rate risk
since its average maturity is only about
5 years.
The next largest category of invest-
ments is mortgage loans with $31.4
million. During 1991, the SPJST found
it necessary to foreclose on only 2 of
its 960 mortgage loans. A loss reserve
of $19,100 has already been set aside
for potential loss on sále of the two
foreclosed properties.
Some $1.4 million is loaned out on
certificate loans. The remaining $2.2
million of our assets is distributed in
stocks, reál estate inciuding the Home
Office, money market accounts and
funds, cash and miscellaneous.
The investment priorities for 1992
are:
1. To continue to monitor the quality
of our portfolio.
2. To maintain good liquidity.
3. To see to limit interest rate risk
by limiting the term of invest-
ments and improving on the net
return on assets.
4. Maintain high standards for mak-
ing well secured mortgage loans.
ADMINISTRATION AND SER-
VICE. The time demands on managing
and investing our growing assets has
made it necessary to improve on the
efficiency of handling the likewise
growing administrativě řuncílon of the
Corporation. As ífie organizatioe and
workioad grows, it is our goal to con-
tinue providing the levei of Service we
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Sefcik, R. J. Věstník (Temple, Tex.), Vol. 80, No. 9, Ed. 1 Wednesday, February 26, 1992, newspaper, February 26, 1992; Temple, Texas. (https://texashistory.unt.edu/ark:/67531/metapth632597/m1/4/: accessed June 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Slovanska Podporujici Jednota Statu Texas.