Apr. 5--AMIDST POPULIST anger directed at Wall Street excesses, the federal effort to shore up the nation's financial system will find its way to Main Street this month.

Proposals related to federal rescue plan funds are to be voted upon by shareholders at two local banks.

One, United Bancshares Inc., of Columbus Grove, will ask stockholders to authorize steps to eventually let it seek $13 million from the Treasury Department's Troubled Asset Relief Program.

The other, First Defiance Financial Corp., of Defiance, received $37 million in January through the federal program, and so by law shareholders will be asked to vote on a plan to compensate the bank's executives.

The votes are nonbinding but are required of companies taking the federal money. The issue is a sign that the area's publicly traded companies will hold annual shareholder meetings in difficult financial times.

Companies appear to be dealing with the whirlwind in various ways.

For example, Rurban Financial Corp., another Defiance banking company, will ask shareholders to extend its age limit for board directors past 70.

If not, the company will lose one of its key banking industry connections.

Meanwhile, agribusiness The Andersons Inc., of Maumee, has asked stockholders to allow it to increase the number of common shares it can issue. The company has no desire to issue more shares, but wants to be able to do so to raise funds in case business acquisitions present themselves at a time when loans are difficult to obtain.

And General Motors Corp. is taking a simple but public step to show that it has become more cost-conscious. It is moving its annual shareholder meeting back to Detroit from Delaware.

RiskMetrics Group, a New York firm that tracks shareholder proposals, said its expects executive compensation to be one of three main issues at many annual shareholder meetings nationwide this year.

"Clearly, the unprecedented market turmoil has renewed investor and regulatory focus on executive compensation practices, board accountability and oversight, and the quality of financial reporting," RiskMetrics said in a recent survey of upcoming proxy issues.

Two other key issues nationwide, RiskMetrics said, will be director board structures and audit practices.

At First Defiance, William Small, the chairman, president, and chief executive officer, isn't keen on having shareholders pass judgment on the way in which his $325,854 in total annual compensation is awarded.

"It's not my favorite piece of legislation, but it is the law," he said.