Theodore Harris Roberts OBITUARY

Theodore Harris Roberts OBITUARY

Theodore Harris Roberts “Ted”, age 97, passed peacefully on October 15, 2026, surrounded by his loving family at his home in Lake Forest, Illinois. Ted was born in Gillett, Arkansas to Dixie E. and Gertrude Roberts and later moved to Louisiana. Ted came from humble beginnings in rural Louisiana to leadership of the Federal Reserve Bank of St. Louis; Mr. Roberts was a banker from 1953-2007. Mr. Roberts grew up in Zwolle, Louisiana where he was beneficiary of an anonymous scholarship to attend Northwestern State University of Louisiana. After college he served in the United States Army from 1950-1953 and attained the rank of First Lieutenant. While stationed at Fort Sheridan, Illinois he met his bride Elisabeth “Betsy” Law whom he married in 1953. In 1953 Mr. Roberts began his banking career with Harris Trust and Saving Bank, Chicago, Illinois. Rising from trainee to Executive Vice President, Chief Financial Officer and Director of the bank and its parent holding company Harris Bancorp. He was a member of the Presidential Commission advising the United States President which resulted in the Deregulation and Monetary Act of 1980. This was the first significant banking reform since the Great Depression. During his time in St. Louis, Mr. Roberts served with Paul Volcker on the Federal Open Market Committee under President Reagan. 1985 he resigned from the Presidency of the Federal Reserve Bank of St. Louis. At the request of the Federal Government, he returned to Chicago in 1985 to lead the financial recovery of Talman Home Federal Savings and Loan Association, Chicago’s largest thrift as CEO and President. Talman was operating under federal government supervision during the time when the entire thrift industry was in a financial crisis. By 1986 Talman was restored to sound condition and converted from its status as mutual association to a publicly owned stock company. During a time of changing regulations, Congress retroactively changed accounting rules for thrifts. Talman was forced to seek new capital to replace its disallowed “good will” asset. To obtain newly required capital, Talman merged with ABNAMRO which injected new capital. Ted was named President of LaSalle National Corporation, holding company for LaSalle Banks with ABNAMRO becoming the successor holding company. Ted was an active participant in the constitutional challenge to the action of Congress in eliminating the use of supervisory goodwill which was overturned by the United States Supreme Court in a landmark decision in 1995. For 14 years Ted managed Talman’s damage claim litigation which resulted in an award of $155 million for Talman in 2007. Considered a ‘Banker’s Banker” by his peers, Mr. Roberts helped organize many banks in the Chicago area while at Harris Bank, served on the Illinois Board of Banks and Trust Companies, Chaired a Banker’s Advisory Committee for the Federal Deposit Insurance Corporation and was the Chairman of the Association of Modern Banking which led the fight for branch banking and multi-bank holding companies. Uniquely, he was also named Chairman of the Chicago Association of Savings Institutions while at Talman. Active in civic affairs, he headed the Metropolitan Division Fund raising drive for United Way of Chicago and was a board member of the Chicago Central Area Committee and Neighborhood Housing Services where he led fundraising as Chairman of the Leadership Committee. He was a life member of the visiting Committee of the University of Chicago Medical Center. He was a member of the Commercial Club, the Economic Club, the Chicago Club and Exmoor Country Club. While working in Chicago 1985-1986 he attended the University of Chicago Graduate School of Business. He also taught a course in Money and Banking at Roosevelt University in St. Louis. He lectured at Washington University and in California at Stanford University. He also received a master’s degree in political science from Oklahoma State University and a B. A. in Government from Northwestern State University of Louisiana, where he was a member of the President’s Council and received the Distinguished Alumna Award in 1996. Mr. Roberts’ life was marked by determination, integrity, service, and devotion to family. He was a voracious reader and contributed to many important charities including an endowment to Northwestern State University of Louisiana and substantial contribution to the University of Chicago for cancer research in the name of his wife Betsy. Mr. Roberts was preceded in death by his beloved wife, Elisabeth “Betsy” Roberts; their son, William Harris Roberts; and his siblings Harold, Dixie, and Pauline. He is survived by his children Susan Elisabeth Barnum (David), Julia Ann Roberts (Brian), and John Edward Roberts (Claire); eight grandchildren; Charles Frederick Shank (Ashley), Emily Elisabeth Shank, Katherine Patricia Shank (Steve), Theodore Harris Shank, Elisabeth Kocher Schmidt (Tyson), William Richard Kocher, Anne Roberts Kocher, Aimee Elisabeth Roberts and two Great-Grandchildren; Theodore John Schmidt, Stella Elisabeth Schmidt. Interment will be private at Lake Forest Cemetery. In lieu of flowers, online donations may be made to the University of Chicago Comprehensive Cancer Center at https://www.uchicagomedicine.org/cancer/give. For more information contact Reuland & Turnbough Funeral Directors of Lake Forest (847) 234-9649 or www.RTfunerals.com.