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Vol. 9 No. 51 Des Moines, Iowa April 13,1981 Bankers Testify on Bankruptcies E ARE experiencing a new V V type of bankrupt," Walter W . Vaughan, chairman of the American Bankers Association’s Task Force on Bankruptcy told the Senate Judiciary Subcommittee on Courts, last week during hearings on the Bankruptcy A ct of 1978. “ We are seeing more double income families with high five or even six figure incomes who declare bank ruptcy to rid themselves of debts that cramp their lifestyle or who are unwilling to live within their means. The debtors choose bankruptcy to relieve themselves of the pressure of over-extension,” said Mr. Vaughan, senior vice president of the American Security Bank in Washington, D.C. Mr. Vaughan was accompanied at the hearings by Thomas Small, vice president and counsel for First Union Bank in Raleigh, N.C. Mr. Vaughan pointed to a 75% increase in consumer bankruptcy filings in the first year under the new bankruptcy law, Mr. Vaughan added. “ Individuals may seek the relief offered by Chapter 7 without any showing of need for that relief,” Mr. Vaughan said. Chapter 7 of the Bankruptcy Code provides for liquidation of a debtor’s eligible assets and distribution of the proceeds to creditors. “ The Association believes that access to Chapter 7 of the code should be limited to those individuals who have a need for the relief offered by that chapter,” he stated. “ A key area of abuse occurs in Chapter 13 where debtors are able to have plans confirmed that offer only minimal or insignificant payments to unsecured creditors. Many Chapter 13 debtors have been able to retain all their assets and extend payments on their secured obligations without making any meaningful payment to unsecured creditors,” Mr. Vaughan asserted. Chapter 13 provides for a court-approved repayment plan for individuals without liquidation of assets. “ The Association urges the Senate to adopt a ‘best efforts’ test for Chapter 13. It can be anticipated that creditors would receive meaningful payments on unsecured obligations 1980 79 ’80 ■ = Bank Card Losses Q = Personal Bankruptcies * Source: Dun & Bradstreet ’81 as a result,” Mr. Vaughan said. Mr. Vaughan also urged that the Bankruptcy Code be amended so that debts which are nondischargeable under Chapter 7 would also be nondischargeable under Chapter 13. Such debts include those incurred by fraud, embezzlement, false pretenses or willful and malicious injury. “ Unless these problems can be adequately dealt with, consumer credit will become more costly and less available. Those individuals who abuse the bankruptcy process impose a cost that must be borne by all members of our society,” Mr. Vaughan said. The subcommittee also was told that abuse of the Bankruptcy Code by debtors who are not truly needy has caused creditor losses that are “ staggering,” by Paul J. Pfeilsticker, vice president of Continental Illinois National Bank and Trust Company of Chicago. Lack of a threshold test of need for filing bankruptcy has allowed debtors “ the ability, indeed even the ‘right, ’ to legally walk out on legitimate and payable debts,” Mr. Pfeilsticker told the Subcommittee. He testified on behalf of The Consumer Bankers Association on the growing problem of personal bankruptcies, which increased 82% nationally in 1980. Like all consumer lenders, Mr. Pfeilsticker said, CBA members are experiencing signifi cantly increased losses, both in the aggregate and in the average per bankruptcy. A t Continental, for Don't gam ble w hen choosing a correspondent bonk. Com e to the professionals. For any correspondent bonking need . . . overline assistance, data processing services, investment counseling . . . just give us a call. W e're the professionals w ho put the response in correspondent bonking. Central National Bank & Trust Company DES MOINES • MEMBER FDIC • TOLL FREE NUMBER (800) 362-1615 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Raym ond Schneider, Corsp. Bk O fficer 2 example, bankruptcy charge-offs rose from $4.5 million in 1979 to $8.4 million in 1980, an increase of 84.6 %. While in 1979 bankruptcy losses represented 13.7% of all Continen tal’s consumer charge-offs, they accounted for 25.8% in 1980. The tremendous leap in filings since enactment of the Code in 1979 is in sharp contrast with the usual historical trend in which personal bankruptcy filings generally followed the economic health of the nation. The unemployment rate increased in 1980, but it did not reach the level of the 1974-75 recession, Mr. Pfeilsticker pointed out. And yet, the “ number of personal bankruptcy filings for the first quarter of 1980 was close to 50 % greater than that of 1975, ” he said. 0 Kansas Senate Rejects Money Market Controls The Kansas State Senate has stopped a move to put money market mutual funds with checklike features under the jurisdiction of the state bank commissioner for the purpose of imposing examinations and reserve requirements. The Senate voted unanimously to “ nonconcur” with an amendment at tached to a banking bill by the state House o f Representatives after heavy weekend lobbying efforts by money funds, some of which claimed they would have to quit the state if the measure passed. The action by the state Senate means that a joint House-Senate conference committee will now be assigned to resolve the matter. Supporters of the amendment, including the Kansas Bankers Association, hope the committee will set hearings on the issue. to make MNB work for you. Toll free 1- 800- 332-5991 Merchants ^ National Bank IS I Member F.D.I.C. A BANKS OF IOWA’ BANK Iowa News “ Surviving in the 80s,” the second annual c.e.o. conference sponsored by Iowa Bankers Association, will be held April 27 and 28 (note date change). The conference will be held at the Marriott Hotel in Des Moines. The registration fee is $115. Registration begins at 9:00 a.m. Monday, April 27, and the conference adjourns at 12:15 p.m. Tuesday, April 28. BLOOMINGDALE: A t Bloomingdale State Bank, Thomas L. Batt has been promoted to vice president and comptroller and Darlene E. Mensching to cashier. Mr. Batt joined the bank in 1974, Ms. Mensching in 1971. N APERVILLE: Richard A . Daven port has been appointed vice president and cashier of the Naperville National Bank & Trust Co. He joined the bank in 1976 as a teller. SPRINGFIELD: John E. Brubaker has been elected president of the First National Bank. He has been serving as executive vice president and assistant to the president. Mr. Brubaker succeeds Walter R. Lohman, who continues as board chairman and c.e.o. HOLSTEIN: Holstein State Bank has announced the retirement of R.W . McCrea, vice president and cashier, after 25 years of service. Nebraska News James V. Clausen has been named vice president and ag representative, HASTINGS: Bruce Bellamy has and Yvonne Stoneking has been been elected to assistant vice president-consumer loans at City promoted to cashier. National Bank & Trust Co. Minnesota News AUSTIN: Joseph M. Collins has LINCOLN: Gateway Bank & Trust Co. has announced the appointment mm u low HiH w p npf" in C gi n 1v/W U1U Wt Uvl LU Garry Frandson IOWA . nesMotnes A https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CLOQUET: First Bank Cloquet has elected Phillip B. Johnson vice president and second officer. Mr. Johnson was most recently liason credit officer for First Bank System, Minneapolis, since 1979. W ILLM AR: Bruce J. Krupke has been elected vice president-opera Life Licensing School tions of First Bank Willmar. He To be Held April 28 joined the bank in 1972 as cashier and Permanent Life Licensing School operating officer. will be held April 28 at the Hyatt WORTHINGTON: First Bank Hotel in Des Moines. The session is Worthington has elected Patrick J. sponsored by Iowa Bankers Insur Corrigan and Paul Means to assistant ance and Services, Inc. and IBA. vice presidents. Both men began Registration will begin at 7:30 a m. their banking careers in 1979. and class will run until 5:30 p.m. Registration fee is $50. Illinois News FORT DODGE: James F. Fulton, assistant cashier, First National Bank, has retired. Mr. Fulton joined the bank, then Fort Dodge National, in 1935. ASK JE R R Y T R U D O been appointed vice president-retail banking of Northwestern State Bank. Mr. Collins joined the bank in 1959. m n a t io n a l bank be first in Iow a? By puttinq Iowa first. An Affiliate of Northwest Bancorporation R A H C ^ Member FDic Call (515) 245-3131 or toll-free (800) 362-2514 # C a rle to n D . Beh C o . Investment Bankers/Financial Consultants NEW ISSUE SALE DATE: April 8,1981 $3,400,000 MOODY’S: A VILLAGE OF ASHWAUBENON, BROWN COUNTY, WISCONSIN General Obligation Promissory Notes of 1981 Dated: May 1,1981 Denomination: $5,000 Both principal and semiannual interest (April 1 and October 1, first coupon due on April 1,1982) payable at a bank to be designated. IN THE OPINION OF COUNSEL INTEREST ON THESE NOTES IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITIES $200,000 200,000 200,000 100,000 50,000 8.30% October October October October 8.50% October 1982 1983 1984 1985 7.80 7.90 8.10 8.25 1, 1986 8.50 1, 1, 1, 1, $ 50,000 100,000 100,000 2,400,000 8.75% October 9.00% October 9.15% October 9.30% October 1, 1987 8.75 1, 1988 9.00 1, 1989 9.15 1, 1990* 9.30 * Optional beginning October 1, 1989 at 100%. LEGALITY TO BE APPROVED BY QUARLES & BRADY, ATTORNEYS, MILWAUKEE, WISCONSIN The Village of Ashwaubenon is situated adjacent to the City of Green Bay in Brown County. The Village’s area is 6,061 acres and between 1970 and 1980, the Village’s population grew 43% to 14,402, according to the preliminary 1980 Census. The Village is a part of the Brown County (Green Bay) metropolitan area, an urban area that covers approximately 80 square miles. Next to metropolitan Milwaukee, the Green Bay area is the largest jobbing, wholesale and distribution point in Wisconsin and is the dominant retail center of northeastern Wisconsin and Upper Michigan. The principal industry in Brown County is paper making with 11 mills located there. Some of the other major employers in the area include: Paper Converting Machine Co.; Wisconsin Employees Group; Super Value, Inc.; Response Graphics, a division of Moore Business Forms; Ashwaubenon School District; Red Owl Stores; and San Louis Manor. These Notes are being issued pursuant to Wisconsin Statutes, Chapter 67.12(12) to finance sanitary sewer, storm sewer, water main and street improvements within the Village’s Tax Increment District No. 1. In the opinion of counsel, these Notes are legal and binding general obligations of the Village of Ashwaubenon, Wisconsin, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal of interest on the Notes without lim it as to rate or amount. FINANCIAL STATEMENT Equalized valuation, 1980 Assessed valuation, 1980 Net direct debt, including this issue Total direct and overlapping debt Population, 1980 estimate: 14,402 $407,741,240 83,472,288 9,931,462 14,791,264 Net direct debt per capita: $ 689.59 Total debt per capita: 1,027.03 Under Wisconsin Statutes, a city always receives 100% of the taxes levied for it, as the County assumes all delinquencies. We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not still be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 C a rle to n D . Beh C o . Supplement to Northwestern Banker Newsletter 4-13-81 Investment Bankers/Financial Consultants NEW ISSUE SALE DATE: April 8,1981 $4,850,000 GREENFIELD, MILWAUKEE COUNTY, WISCONSIN MOODY’S: A1 • General Obligation Corporate Purpose Bonds, Series 1981 Dated: May 1,1981 Denomination: $5,000 Both principal and semiannual interest (April 1 and October 1, first coupn due on April 1,1982) payable at a bank to be designated. • IN THE OPINION OF COUNSEL INTERESTON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXATION. MATURITIES $ 50,000 50,000 50,000 50,000 75,000 125,000 150,000 225,000 8.85% April & 1982 10.00% April 1, 1983 April 1, 1984 April t , 1985 April 1, 1986 April 1, 1987 April 1. 1988 April 1, 1989 ft 7.90 $450,000 8.00 8.10 8.20 8.40 8.60 8.80 9.00 775,000 900,000 975,000 975,000 10.00% April 1, 1990 9.95% April 1, 1991 9.50% April 1, 1992* 9.65% April 1, 1993* 9 80% April 1, 1994* 9.20 9.35 9.50 9.65 9.80 * Optional in inverse order beginning April 1, 1991 at 100%. LEGALITY TO BE APPROVED BY FOLEY & LARDNER, ATTORNEYS, MILWAUKEE, WISCONSIN The City of Greenfield covers approximately 12 square miles in southwest Milwaukee County. The City was incorporated in 1957 and is considered one of the fastest growing communities in Wisconsin. Greenfield is predominantly a residential community with a strong commercial development. The City’s economic activities mostly center around commercial retail sales. Wealth and income indicators are above state averages. Some of the largest employers in the City are: Chocolate House (manufacture and wholesale distribution of chocolates and candies, 80 employees): Mount Carmel Nursing Home (privately owned nursing home,431 employees); Northwestern Photo Company (photo finishers, 52 employees); Target Stores, Inc. (discount store and bakery, 230 employees); and WIENIM Properties (K-Mart, discount department store, 200 employees). Bank deposits in Greenfield as of December 31, 1979, exceeded $61,898,920. The proceeds of these bonds will be used for the following purposes: $2,965,000 for street improvements; $1,541,000 for constructing and improving storm-sewer drains; $205,000 for constructing and improving water mains; $54,000 for construction of an engine house; and $85,000 for constructing a building for housing of machinery and equipment. In the opinion of counsel, these bonds are legal and binding general obligations of Greenfield, Wisconsin, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal of and interest on the bonds without lim it as to rate or amount. ft £ w FINANCIAL STATEMENT Equalized value of taxable property, 1980 Assessed value of taxable property, 1980 Net direct debt, including this issue Total direct, overlapping and underlying debt Population, 1980estimate: 31,437 $753,444,850 126,928,289 19,285,006 29,355,799 Net direct debt per capita: $613.45 Total debt per capita: 933.80 Under Wisconsin Statutes, a city always receives 100% of the taxes levied for it, as the County assumes all delinquencies. We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not stil I be available or may now be aval lable at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 ft 3 CALL ON THE “PERFORM ANCE TEA M ” where com m on transactions are handled uncom m only well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. of Ray A . Pont as vice presidentloans and the promotion of Susan R. Hiatt to vice president-operations. Mr. Pont was previously an examiner for FDIC. Ms. Hiatt joined the bank in 1975. McCOOK: Daniel Funk has been promoted to senior vice president and assistant trust officer at McCook National Bank. SIOUX FALLS: United National Bank has announced the promotions of Loren Gerleman to senior vice president and cashier and Larry Zych to vice president. Mr. Gerleman has been with United the last eight years and has served on the board since 1980. Mr. Zych joined the bank in 1975 as assistant cashier. SIOUX FALLS: The National B ank OM AHA: First National Bank has of South Dakota has elected Gary L. announced the promotion of Eric S. Scofield vice president and manager Turille to second vice president- bank of the bank’s main office. Mr. card division. Mr. Turille joined First Scofield most recently served as National in 1973 as a management president of First Bank Park River, N.D. trainee. Wyoming News North Dakota News CASPER: A t Wyoming National Bank, Charles Dorman has been appointed vice president-commercial loans. Mr. Dorman has been vice president and trust officer of the Perry State Bank, Perry, la. He joined Perry State in 1958. FARGO: First National Bank has broken ground for its new office at 2501-13th Avenue South. The new multi-story building will include 24,900 square feet of office space, at a cost of approximately $2.5 million. THERMOPOLIS: Louis Walrath, attorney, has been elected president and c.e.o. of First National Bank, replacing Joseph R. Lyman, who has served as president since 1977. Mr. Lyman was elected board chairman, replacing Paul Howes, who will continue to serve as board vice chairman. Mr. Walrath has practiced law in Thermopolis since 1965. South Dakota News PIERRE: American State Bank has announced that Sue M . Penner has joined the bank as vice president- ag loans. Ms. Kelly has an M BA degree from the University of South Dakota, and was an ag lending officer for the past seven years with the Omaha National Bank. Callour Bond Department For up-to-the-minute, accurate information cashier of the First & Farmers Bank of Portland. PARK RIVER: First Bank Park River has elected Gary W. Paulson president and a director. He succeeds Gary L. Scofield, who has been elected vice president and manager of the main office of the National Bank of South Dakota in Sioux Falls. Mr. Paulson has been associated with First Bank System affiliates since 1972. SINGLE INTEREST INSURANCE For Installment Loans BLANKET SINGLE INTEREST INDIVIDUAL SINGLE INTEREST PROGRAMS • Automated • Manual M AYVILLE: Willard D. Sorteberg has joined the Goose River Bank as executive vice president. Mr. Sorte berg was formerly vice president and "Opportunity Colls../' Leo Kone, PROTECT YOUR LOANS AGAINST THOSE PHYSICAL DAMAGE LOSSES. Correspondent Banker Am erican Trust & Savings Dank J The Bonk of Opportunity Town Clock Plaza, Dubuque, low o CONTACT US ABOUT A PROGRAM FOR YOUR BANK. . c all or write: JR G.D. VAN WAGENEN CO. CALL 319-562-1841, COLLECT 1678 N o rth w e s tern Bank Bldg. M in n e a p o lis , M N 55402 (612) 333-2261 S B T o m Steffens John H enderson Tony Paugoulatos Vice President Vice President Asst.Vice President Asst.Vice President Bond O ffic e r 234-2462 234-2463 Bond Representative 234-2647 234-2691 Jim M cLaughlin 234-2673 Rusty Reese 234-2674 Dave W itte n b o rn & wgr C ommerce Bank of Kansas city ^ ^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M em b e r FDIC 7 10th and Walnut (816) 234-2000 SERVING PROFESSIONALLY Banking,Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central NationarBldg. 515-283-2545 Des Moines, Iowa 50309 BANKERS PARTICIPATING I I LeasePlan.Inc. 5 45 - 31st Street Des M oines. Io w a 50312 R. L. “ DICK” SELLON Insurance for Financial Institutions Automated Systems of Iowa, Inc. 301 N. Ankeny Blvd., Suite 220 Ankeny, la 50021 515-964-1358 W A N TA DS Rates are $5.00 per line per Insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER 3 06 -1 5 th S t. _____________ Des Moines, Iowa 50309_____________ CASHIER-LOAN OFFICER for recently char tered bank in McCook, Nebraska. Excellent potential for an aggressive individual who want to grow w ith our organization. New building to be constructed this summer. Good sized midwestem town with lots of outdoor sports available. Ability to take full responsibility for all operations a must. Ag, commercial, installment, or casualty insurance experience a plus. Salary commensurate with experience and talent. All replies held strictly confidential. Contact K .H . Niedan, American State Bank, Box 449, McCook, NE 69001, Phone (308) 345-1555. (PA) POSITION WANTED Ambitious, hard-working individual looking for a banking opportunity in the credit department. Good communications skills, college degree, and farm background. W rite 408-19th Avenue-NE, Waseca, MN 56093, or phone (507) 835-4592.________________ (PW) Cashier-Loan Officer with 20 years experience. Seeks changedueto bank being sold. Salary open. W rite file NBC, c /o Northwestern Banker._______________ (PW) SIXTEEN YEAR BANKER with excellent administra tion operations and lending experience would like a management position. W rite to File MBZ, c /o Northwestern Banker.________________________ (PW) □ I want to purchase majority stock in a bank. Please contact Ellis Jones, Broker JONES REALTY 205 South Eaton St. Lakewood, Colorado 80226 Phone: (303) 232-1189 CEO of community bank wants greater challenge. Will consider number oneor two po sitio n ................ $28,000 Operations Officer with solid experience seeks change due to bank being sold .......................... $25,000 If your bank needs a qualified officer, we have many more applicants in a wide range of experience. Call: Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, Iowa 50309. (515) 244-8163. Employer pays fee. UPDATE YOUR ALARMS Professionally installed closed circuit television and 35mm auto cameras. A u to m a tic tape dialers and police panel connection are available to suit your needs. COMMERCIAL LENDING OFFICER - Must have at least 3 yrs experience and ability to run a branch. $23,000. POSITION AVAILABLE SENIOR TRUST OFFICER - Need heavily experienced indiv to come into trust dept and eventually assume full responsibility for trust dept. $21,000. POSITIONS AVAILABLE LENDER • Nebraska bank seeks indiv with ten years of experience in commercial and especially agriculture lending. $25,000 + Ag lender for$15 million bank in S. Dakota . . . $23,000 Ag Lender for$12 million northwest Iowa b a n k ........... ........................................................................ $21,000 Number Two person with ag lending experience needed by western Nebraska b a n k .................... $26,000 Operations person needed by Wyoming bank .$23,000 Office manager for South Dakota bank. Share of com missions from insurance p lu s .............................$16,000 Write or phone Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, Iowa 50309. Phone (515) 244-8163. Employer pays fee. LENDING - First Wyoming Bank, N.A. seeking installment lender with at least two years experience— all phases installment lending. Salary commensurate with experience. Send resume to R.V. Preston, pres., P.O. Box 940, Rock Springs, Wyoming 82901._____________________________ (PA) $9 m illion northeastern South Dakota bank looking for experienced ag loan officer. Salary & fringe benefits commensurate with experience. Send resum etofileN B A , c /o Northwestern Banker. (PA) Immediate opening for COMMERCIAL LOAN OFFICER in $70 million bank located in St. Paul. Ideal candidate will have 2 + years in commercial lending and credit analysis; also, should have familiarity with SBA loans and SBA secondary market. Send resume and salary requirements to file NBB, c /o Northwestern Banker. All inquiries kept strictly confidential.________________________________ (PA) 2ND PER SO N/INSTALLM ENT LENDER - Need at least 2 yrs of exp handling installment loans, student loans, mastercharge and direct & indirect loans. $17,000. A|_L FEES COMPANY PAID. FOR FURTHER INFORMATION RESPOND IN CONFIDENCETO: Bank Division S ROBERT HALF t of Iowa. Inc 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID Individual wants to acquire Iowa or Neb. bank. Contact In confidence: Mike Keim, 9916 Fieldcrest Drive, Omaha, NE68114, phone402/393-8160. [WTB] AGRICULTURAL LENDING Is your potential as a lender or manager being utilized? W e are looking for an aggressive ag lender with a solid lending background, good public relation skills and management potential. Become a member of a fast paced aggressive bank in a preferred branch location. Send background information, salary history (and requirements) to: Steve Johnson, Personnel Officer, Northwestern National Bank of Sioux Falls, P.O. Box 1028, Sioux Falls, South Dakota 57101. An equal opportunity employer M / F. FOR SALE NCR 482 proof encoding machine. In working condition. Also, three Brandt Money Handling Machines 18 months, old. Farmers State Bank of Dows, Dows, Iow a50071, phone (515) 852-4151. (FS) Addressograph Model 1955. Nine years old and always under service contract, with separate plate storage cabinet and about 2,500 plates. Works perfect. Contact Dan Boatman, Iowa State Bank, Hamburg, ia. 51640, phone (712) 382-2341.______ (FS) $23 m illion growing high-performance bank with holding company located in upper northwest. Terms to qualified buyers. Cali or write Ellis Jones, Broker, Ellis Jones Realty, 205 South Eaton Street, Lakewood, CO 80226, Phone(303) 232-1189. (FS) POSITIONS AVAILABLE Ag Banking S p ecialists^ Whan it comet to agriculture, banking and p a n o n n o l. . . go to the specialists — go to AGRIcaroers, Inc. Progressiva bankers pay as to find tho people they need. AG LOAN OFFICER/INS. M G R ......... 2ND MAN IN SMALL BAN K................. ASST. V. P. I BRANCH M G T ................. INSURANCE MANAG ER..................... SALES & MKTG. REP.-FINANCE COMMERCIAL LENDING O FFIC E R .. IA .$15-20,000 NE. $15-22,000 IA .$16-22,500 NE. $16-19,000 NY. $20-25,000 IA .$15-16,000 Ask oar banking specialist, Linda, what's available withoot cost or obligation. (515) 394-3145 ■ NEW HAMPTON, IA 50659 SECURITY SYSTEMS, INC. 3920 Delaware Des Moines, IA 50316 [515] 265-1161 LENDING - N .W . Iowa bank seeking ag lender with at least 2 yrs exp. $18,000. ASST. VP - Large Des Moines bank looking for heavily experienced commercial lender who has a keen sense of business judgment. $28,000. POSITIONS WANTED Agricultural Loan Officers with 3 to 20 years experience seek new opportunities............. $20,000 up PARTIAL LIST OF AVAILABLE POSITIONS □ My majority bank stock is for sale. aqncareers, me. • J THE ORIGINAL AGRICULTURAL RECRUITER SECOND OFFICER- $45MM bank affiliated with midwestern holding company. Position requires both lending and operations experience.................... $35,000 BOND ANALYST- Position requires MBA Degree and 3-5 yrs. experience. Excellent advancement with this major midwestern trust company..................... $$Open COMMERCIAL LENDER- Opportunity to assume dept, head position in $70MM bank. Must be well acquainted with statement analysis and written loan review procedures...................................................$30,000 JUNIOR OPERATIONS- Need 2-3 yrs. bank supervisory experience. Will understudy cashier’s position. Degree desired....................................... $18,000 AUDIT- Conduct internal audits and establish procedures for suburban bank in Rocky Mountain area................................................................ $18,000 TRUST OFFICER- Opportunity to manage small dept, with good growth potential. Bank experience required............ ........................................................ $25,000 Inquiries handled on a confidential basis. Resume’ and salary history requested. TOM H AGAN & ASSOCIATES of Kansas City P.O. Box 12346,2024 Swift North Kansas City, MO 64116 816/474-6874 SERVING THE BANKING INDUSTRY SINCE 1970. Vol. 9 No. 51 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address [Form 3579], manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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