A downstate Illinois mutual savings and loan plans to file an application this week for conversion to stock ownership.

First Robinson Savings and Loan, which has $64.5 million of assets, is seeking the conversion to raise capital to keep up with loan growth and pay for possible expansion, chief executive Rick L. Catt said in an interview.

In the past two years, First Robinson has watched its capital-to-assets ratio dwindle because of two branch openings and unusually large loan growth, Mr. Catt said.

The capital ratio now is about 7%, and the board prefers a ratio in the range of 8% to 10%.

Besides bolstering reserves, First Robinson might use a capital infusion to open more branches, Mr. Catt said. The two opened since 1995 are the only ones the thrift operates.

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