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Vol. 13 No. 52

Des Moines, Iowa

April 15,1985

FDIC Clarifies Public Funds Rule
HE board of Directors of the
Federal Deposit Insurance Cor­
poration has announced that it has
acted to provide a phase-in period
for a new FDIC Legal Division staff
interpretation regarding separate
deposit insurance coverage for de­
posits made by multiple custodians
of public units who do not qualify as
“ offical custodians” of those funds.
The interpretation replaces an earli­
er 1979 staff opinion that reached an
opposite conclusion. Both interpre­
tations were issued in response to in­
quiries from the Colorado State
The Board’s action gave public of­
ficials, including those in the State
of Colorado where the issue arose,
ample time to take appropriate
steps to ensure adequate protection
of public funds in light of the revised
interpretation of the FD IC’s insur­
ance regulation.
On March 19, 1985,an FDIC legal
opinion rescinded an opinion issued
in 1979 that had concluded that mul­
tiple custodians of State funds in
time deposit accounts in FDIC-insured banks qualified under the
FD IC’s insurance regulation for sep­
arate deposit insurance coverage.
The 1979 opinion was based on a
Colorado law that authorized the
State Treasurer to appoint one or
more persons to act as custodians
for State funds in time deposit ac­


The 1985 interpretation concludes
that multiple custodians appointed
pursuant to the Colorado statute are
not “ official custodians” under the
Federal Deposit Insurance Act or
under the FDIC’s insurance regula­
tion. Therefore, they are not entitled
to separate deposit insurance cover­
age. The revised interpretation
notes that the multiple custodians
appointed under the Colorado sta­
tute exercise no control over public
funds and are not, therefore, custo­
dians in fact, and appear to have
been appointed solely in an effort to
increase deposit insurance coverage.
In order to protect public funds
placed in FDIC-insured banks in re­
liance on the 1979 opinion, the
Board ordered that the new ruling
be phased-in for all State or local
public unit deposits placed before
announcement of the revised inter­
pretation. Specifically, the Board
ordered that any deposit in an FDICinsured bank which was made by a
public unit official through multiple
custodians appointed under the Col­
orado statute in question or under
any similar State or local law and
which was made, renewed, or ex­
tended on or before April 5, 1985
(March 19, 1985 for deposits made
by the Colorado State Treasurer)
will be insured under the 1979 inter­
pretation, and those made, renewed,
or extended after that date will be
insured under the 1985 rule.

L. Wm. Seidman Proposed
As FDIC Chairman Nominee
The name of L. William Seidman,
currently dean of the Arizona State
University Business School of Phoe­
nix, is being tested in Congress as
the leading nominee for chairman of
the FDIC to succeed Wm. M. Isaac,
who announced earlier he would
leave that office. Mr. Seidman is
well-known in Washington circles as
a former economic advisor to former
President Gerald Ford. Mr. Seid­
man, 64, is a CPA by profession and
has held a number of previous state
and federal government posts. A for­
mal nomination is expected soon.

Iowa News
Thomas H. Huston, Iowa superin­
tendent of banking, said last week a
decision has not yet been made
whether to appeal a. ruling from the
8th Circuit Court of Appeals in St.
Louis that upheld the Federal Re­
serve Board’s approval of purchase
of stock in two Iowa banking units
by out-of-state bank holding compa­
The 8th Court upheld the Fed’s
approval in February, 1984, for
First Bank System of Minneapolis
to purchase 500,000 non-voting
shares (21%) of Banks of Iowa, Des
Moines. It also upheld Fed approval
for Omaha National Corporation to
buy 24.9% of KSAD, Inc., which
owns First National Bank of Council

Call on the “Experienced Professionals”
Ready to meet your correspondent needs.


First N a tio n a l Lincoln

A FirsTier Bank

Member. F.D.I.C.

13th & M Streets, Lincoln, Nebraska 68501
Federal Reserve Bank of St. Louis

Serving bankers quietly and efficiently.

714 U.C.B. Building, 515-283-2545
Des Moines, Iowa 50309

Hillcrest Drive in Bellevue.
The hearing will take place at 9:30
a.m. on May 16 in the conference
room 2B, State Office Building, 301
Centennial Mall South, Lincoln.

The 60 days for appeal extends to
late May.



The Iowa Bankers Association is
sponsoring a Loan Documentation
Workshop to be held May 1 at the
Airport Hilton in Des Moines and
May 2 at Stouffer’s Five Seasons
Hotel in Cedar Rapids.
The workshop will run from 9:00
a.m. to noon and begin again at 1:00
p.m. Registration is at 8:00 a.m. For
more information contact the IB A
office in Des Moines,

Central Bank in Algona. He suc­
ceeds William Mullins who resigned.
Mr. Westbee joined the Mason City
bank in November, 1983 from his
previous position of president of
First Bank Bismarck, North Dakota.
C H A R L E S C IT Y : Com m ercial
Trust and Savings Bank has an­
nounced the election of James E.
Hughes as president and chief exec­
utive officer. Victor M. Meyer, presi­
dent since 1971, was named chair­
man. Mr. Hughes had been serving
as president and CEO of United
Central Bank & Trust o f Fort

ALGONA: Robert E. Westbee, cur­
rently president and CEO of United
Central Bank & Trust Co. in Mason SOMERS: Charles L. Brockett,
City, has been named to the addi­ chairman of Somers Savings Bank,
tional post o f president of United passed away at his home on April 2.
He had been associated with the
bank since 1938. Mr. Brockett was
born in Runnells and lived in Des
Moines most o f his life.

W ASHINGTON: Washington State
Bank recently announced that Bill
D. Reha has joined the bank’s staff
as vice president in the loan and in­
vestment area. Mr. Reha formerly
was with the Exchange State Bank
of Adair.

Nebraska News


The Nebraska Department of
Banking and Finance has scheduled
a public hearing on a bank charter
application for First United Bank of
Bellevue proposed to be located at
the intersection of Highway 370 and

to make MNB
work for you.
Toll free

Member F.D.I.C.
Federal Reserve Bank of St. Louis


SUPERIOR: Steven Wright has
been named president of Security
National Bank here, succeeding
Richard Squires who resigned. Mr.
Wright has been in banking the past
12 years in Iowa and Minnesota in
connection with the Myers Brothers,
owners of the local bank. Most re­
cently Mr. Wright was with Payne
Webber in Omaha as an investment
W EST POINT: Charter West Na­
tional Bank opened for business
April 1, according to Steven L.
Paus, chairman. Prior to completion
of the bank’s permanent structure
located at 201 South Main Street,
the bank is providing service from a
temporary facility located on the
construction site. Steve Bell, pre­
viously with First National Bank in
West Point, is president of the new
bank. Other officers include: Kevin
Larson, vice president and cashier,
and Carol Lofgren, assistant vice

Peter DeRosier...
Our newest
correspondent banking professional

1- 800- 332-5991

National Bank 151

NELIGH: Gary Gunderson has
been elected assistant vice president
and loan officer at The National
Bank of Neligh, according to John
E.'G landt, president. Mr. Gunder­
son joined the bank last November 1
after previously serving five and
one-half years with The DeLay First
National Bank & Trust Co., most re­
cently as assistant auditor. Mr.
Gunderson is a native of Wausa
where his father, G.E. Gunderson, is
president of Commercial State

Vice President

Valley National Bank ¡5

Member FDIC


Call toll free (800) 622-7262

Supplement to Northwestern Banker Newsletter 4-15-85


Ron Molstad, V.P. in charge of branch operations and credit, em­
ployed a branch manager with the help of AGRIcareers’ Linda
Heit. Today’s high-stress financial situation in rural America requires hiring loan personnel with excellent skills in financial, pro­
duction and farm commodity management...people difficult to
find, he relates.

Greg Simmons manages PCA’s Mora, Minn, branch in a rural com­
munity of 2600 located 60 miles north of the Twin Cities. This
28-year-old University of Minn, ag graduate had five years in ag
lending and professional farm management before starting this
position in June of 1984.

Minnesota P.C.A. Officer:






“There’s No Room in Ag Lending for the Amateur Any More.”
High-stress financial times in
rural America have dramatically
beefed up the need for loan officer
competence, according to the credit
administration of a large midwestern Production Credit Association.
Also vice president in charge of
branch operations, Ron Molstad at
the St. Cloud, Minn. PCA, recently
employed Greg Simmons through

“I could pick and choose.”
Ron Molstad, VP
Branch Operations
Production Credit
St. Cloud, Minnesota

who borrow owe 70% of the total
farm debt, and some have severe
problems. Due to deterioration of
assets, their alternatives as to re­
financing, partial liquidation, etc.
are few.
“ Dealing with human emotions of
people that are having financial dif­
ficulties can be very dramatic for the
Needed, feels Molstad, are loan
personnel with empathy, maturity,
and good counseling skills—the abil­
ity to listen as well as communicate.
Stamina, perseverance, and firm­
ness also are vital, he says.
Persons with these skills in full
measure are few, and are difficult to

Ag Banking Specialists
AGRIcareers. Simmons is now man­
ager of the branch in Mora, Minn.
Loan volume of St. Cloud PCA,
with six branches and serving 19
counties, totals $95 million.
“ AGRIcareers provided me with
a vast array of candidates, a good
selection,” relates Molstad. “ I could
pick and choose.”
The opportunity to pick and
choose in order to employ the high
degree of personal skills needed to9
day is paramount, feels Molstad:
“ Thirty percent of the farmers
Federal Reserve Bank of St. Louis

Let us help with your career advancement or staffing
needs. Call in confidence, w ithout obligation. Employ­
ers pay our reasonable fee to hire the best.

Linda 515/394-5827
New Hampton, la. 50659

Jean 515/263-9598 (W/F)
712/779-3567 (M/T/TH)
Massena, Iowa 50853



find, he adds. “ We look harder and
consider our choices much more
carefully now, especially for the
branch manager position.
Molstad relates that working
with AGRIcareers helps, and he
calls the personnel firm after first
searching within the Farm Credit
System. Greg Simmons had ag
credit experience at a Federal Land

“ I particularly



Ron Molstad
Bank, bringing long-term credit ex­
“ He has good communication
skills, works hard and is conscien­
tious. He has demonstrated an abil­
ity to deal with the stress of the
In employing Simmons, Molstad
worked directly with AGRIcareers’
personnel specialist Linda Heit at
the New Hampton office. “ I parti­
cularly liked her followup,” he notes.
“ Soon after I ’d interview a candi­
date, she’d call and ‘interview’ me as
to what I liked and didn’t like.”
Says Molstad, “ For PCA, A G R I­
careers adds an outside reservoir of
candidates. They help ‘hybridize’



Confidential. Fee paid by employer.

Personnel Specialists Serving America's Ag Banks

If you are interested in advancing your banking career, we
w ill keep you Informed of opportunities available and
use other recruiting ‘networks' and no contacts are made
on your behalf without your prior knowledge and consent.
Our Ag Banking Specialists serve you individually, dis­
creetly, and professionally.

Our candidates are personally Interviewed, screened, referenced, and evaluated by our specialists. If you have an Interest
In candidates listed below, call Jean or Linda to discuss your needs. Employers pay our modest fee to hire the best.
NJ-1 SR. LOAN OFFICER— Handles 50% ag and 50%
commercial loans in $60MM IA bank. Also strong account­
ing and computer skills. Attended I.S.U. Married. $35,000.
Call Jean.
NJ-2 AG LOAN OFFICER—Offers 2 yrs. ag lending experi­
ence (FmHA and Farm Credit System). Articulate and ag­
gressive, active in community. Wants long term career in
banking. B.S. Ag Married. Age 25. $23,000 Call Jean.
NJ-3 V.P. AG— 10 yrs. ag lending experience (bank and
PCA). Appearance, references, and experience rate him a
‘9’ on a 1-10 scale. Handles the tough loans In a $20MM
dept. B.S. Bus. Admin. Married. Age 32. $36,000. Call Jean.
NJ-4 E.V.P.—Sr. Loan Officer in charge of $35MM loans in
$70MM bank. 20 yrs. bank experience In loans, operations
and personnel. Married. Age 49. $40,000+ Call Jean.
NJ-5 AG LOAN OFFICER—Two yrs. experience with
FmHA as Asst. County Supervisor. Strong computer skills.
B.S. Ag Econ. (3.5/4.0 GPA). Married. Age 25. Lives NE.
$22,000 Call Jean.
NJ-6 AG LOAN OFFICER—Currently A.V.P. In $7MM
branch PCA. References say, “ has learned more In less
than two yrs. than we used to learn In five !” Also has 3 yrs.
sales experience w ith major feed co. B.S. Ag. Married. Age
28. $28,000. Call Jean.
NL-7 BANK LENDER—Offers five years of current expr. in
consumer lending ($8MM), development and implementa­
tion of department operating, lending policies and proce­
dures along w ith business development and cross selling
of bank services. Participates on the bank loan review
committee. Have been exposed to commercial and ag
lending. SUPER COLLECTOR. Good references. Holds cur­
rent insurance licenses. A.A.S. Ag Business. Married. Age:
31. Lives MN. $22-28,000. Call Linda.
NL-8 AG REP—References say, “ Very conscientious and
m eticulous and a quick learner. Relates to the customers
well. Rated an A-...young but very mature.” Offers two pre­
vious years In ag, installment and RE lending for a small
town ag bank. Hands on experience In farming and Insur­
ance claim adjusting. A.A. Finance/Credit Mgt. (3.9/4.0).
Single. Age: 23. Lives MN. $15-17,000. Call Linda.
NL-9 AG LOAN TRAINEE—This sharp college grad wants
to pursue a career In ag banking. Has been selling farm
real estate, offers a B.S. In Finance, RE & Insurance with a
minor in Accounting. Receives excellent references. Farm
raised. Married. Age: 24. Lives MN. $16-20,000. Call Linda.
NL-10 SR. MANAGER OF SMALL BANK— Reference says,
“ SUPER credit judgement-no question about it! Excellent
rapport w ith customers.” Responsible for ag, commercial,
RE and installment loans for a $13MM ag bank and super­
vision of bank operations. B.S. Accounting. Licensed to
sell Insurance and real estate. Married. Age: 33. Lives MN.
Making $40,000+ but w illing to take a decrease for a new
challenge. Call Linda.
NL-11 AG LOAN ANALYST—Strengths include credit anal­
ysis, projections and documentation. Present owner of
bank says, “ He’s a good solid, responsible lender...capa­
ble and knowledgeable, handles ag lending and the Insur­
ance agency, Intelligent and analytical.” Self taught on
own computer. B.S. Sales & Mktg. Married. Age: 45. Lives
MN. $30,000 plus. Call Linda.
NL-12 AG LOAN OFFICER—Close to five years with FLB
where this ag lender is responsible for all phases of loans
from application, appraisal to closing. Makes an excellent
personal impression. B.S. & M.S. Ag Economics. Married.
Age: 29. Lives MN. $25,000. Call Linda.
ND-13 AG LOAN OFFICER—Strong ag background which
includes farming (crops, hogs, and cattle) and three years
bank experience In operations with small rural Nebraska
bank. Responsibilities Include, loan documentation, profit
and loss statements, cash flows, computer input, farm
calls. Reference says, “ Works very well with others, re­
lates very well to the farmer. Excellent w ith detail.” B.S.
Agronomy. Married. Age: 29. Lives NE. $15-17,000. Call
ND-14 AG CREDIT I— Has five years experience with pro­
duction credit systems, managing $4MM loan portfolio.
Reference says, “ Good manager, good public relations
skills, effective communicator, very innovative, has done
excellent job coordinating insurance program.” Married.
Age: 32. Lives NE. $35,000. Call Jean.
Federal Reserve Bank of St. Louis

ND-15 AG LOAN OFFICER— Has nine years bank and PCA
experience. Sharp, well spoken candidate with super a tti­
tude! Strengths Include public relations, new business
development, analysis, and cash flows. Reference says,
“ Very well liked, com m unity oriented, good rapport with
farmers. I’d hire him here If I had room.” BS AgBus. Mar­
ried. Age: 32. Lives IA. $30,000. Call Jean.
agent who is involved in managing, servicing and new
business development for a $800,000 gross volume Insur­
ance agency the past four years. Reference says, “ I would
recommend him because he made the insurance agency
very profitable for me.” 3 yrs. college. Married. Age: 28.
Lives IA. $22-24,000. Call Linda.
NL-17 AG LOAN OFFICER— Reference says, “ Very quali­
fied cash flow lender.” This ag banker’s long-term goal is
to be the BEST ag lender possible. Offers three years with
PCA and currently ag officer In charge of $19MM ag loan
dept, and s ta ff of tw o loan officers. B.S. Ag. Married. Age:
36. Lives Wl. $30,000. Call Linda.
handling large number of PCA’s problem loans. FmHA Co.
Supr. for 10 yrs., past 3 w ith PCA. Has ben thru both ex­
tremes of ag lending; the liberal practices of several yrs.
ago and the conservative, clean-up phase of today; has
adapted to and learned from both. References say, “ has
successfully reduced loan problems, and helped farmers
gain business sense as w ell” ...“ able to waltz thru FmHA’s
forms & regulations and get a loan put thru fa s t” ...“ offers
practical solutions to loan problems.” Good attitude and
down-to-earth personality. B.S. Ag, married, age 35. S. IA
or N. MO location. $33,000. Call Jean.

Our reputation of maintaining our candi­
dates’ confidentiality enables us to attract
a SELECT group of ag bankers and lenders...those currently employed and not ac­
tively job hunting or flooding the market
with their resumes, but ready to make a
move for the right opportunity. Therefore,
when you describe your needs to us, we
contact our candidates who fit your de­
scription to discuss the position and loca­
tion to ascertain their interest before dis­
closing their names or sending you their re­
sumes. This not only protects our candi­
dates identity, but saves you time...when
we submit a person for your consideration,
you’ll know he or she has an interest in
your bank, community and salary range.
Let us know your needs without comm it­
ment; we won’t ‘hound’ you with phone
calls or ‘flood’ you with resumes, and there
is no fee unless you hire. We serve as the
source to locate candidates who meet your
qualifications and are interested in your
position. W e are available to assist, not ‘in­
sist’. W e allow and encourage your direct
contact with our candidates. YOU make
the choice and decision without pressure.

N-1—Two major Iowa holding companies seek EXECU­
TIVE OFFICERS for several IA locations. Require 5-10 yrs.
ag banking experience. Good record o f problem solving.
Salaries to $50,000.
N-2 LOAN REVIEWER—for major holding company. Re­
quires 5 yrs. exper. at holding co. level In sim ilar capacity.
Must have strong ag loan experience. Salary open.
N-3 E.V.P.—#2 In $50M W. IA bank; part of chain. 5 yrs. ag
lending exper. required. $30K + full benefits.
W ill handle approx. $10MM commercial & R.E. loans. Must
know technical aspects of commercial lending and be
able to handle and make decisions on $100-$200,000 lines.
Requires 2-3 yrs. commercial lending exper. $30K + .
N-5 AG REP.— Report to pres, in $60MM N.E. IA bank.
Work w ith 2 other A.L.O.’s in $15MM ag dept. Must be con­
servative lender w ith good credit judgement. Requires 4-5
yrs. ag lending exper. $28,000.
N-6 C.E.O.— Responsible for all major decisions of loans,
investments, operations, savings, and personnel in small
N.C. IA bank. Good work out skills + 10 yrs. bank opera­
tions and ag lending experience requires. $35,000 +
bonus, benefits, car.
N-7 E.V.P.— Back-up for president In $35MM S. IA bank.
Good earnings; solid bank; one of growing bank chain. Ex­
cellent opportunity for #1 spot. Requires 10+ yrs. exper.
with one bank. $35,000 + .
N-8 #2— In $20MM N.W. IA bank. No problem loans. Must
be good business developer w ith 5 + yrs. bank exper.
N-9 AG LENDER—$25MM S.W. IA bank w ith $10MM ag
loans. Assist w ith ag loans, FmHA apps, etc. Must be
good credit analyst w ith 2 yrs. lending exper. from Farm
Credit System of^FmHA. $25,000.
Iowa and Nebraska ag banks with agencies ranging from
$200,000-$300,000 + + gross volume. Must have solid
track record in insurance sales and management. All lines
of Insurance licenses. $20-25,000 base plus insurance
N-11 SENIOR LENDING OFF.— Independently owned ag
bank seeks senior lender responsible for loan portfolio of
$6MM w ith emphasis in ag area. Five or more years of ag
credit experience, MN. $30,000 + .
N-12 VP—$30MM banks wants to hire Sr. Loan Off. to be in
charge of total loan portfolio ($15MM). Build loans but
maintain loan discipline. 15-20 years bank lending expr. in
“ community” bank with ag exposure. MN. $31-37,000+ + +.
N-13 AG LENDER—$8MM rural ag bank Is seeking lender
with primary responsibility In ag loans and an opportunity
to work into the Insurance. 3-5 yrs. ag credit expr. MN.
N-14 #3—Strictly ag loans for a $30MM ag bank. W ill con­
sider 2-5 yrs. In bank, PCA or FMA. Needs good documen­
tation and problem loan expr. IA. $20-25,000.

Ag Banking
Personnel Specialists
Let us help w ith your staffing needs or career ad­
vancement. Employers pay our modest fee to hire the
Our clients depend on us for QUALITY.
Our candidates depend on us for CONFIDENTIALITY.
Linda 515/394-5827
New Hampton, la. 50659

Jean 515/263-9598 (W/F)
712/779-3567 (M/T/TH)
Massena, Iowa 50853

aqri careers,inc.
- /


N-15 CEO—Well capitalized Illinois ag bank has #2 spot
position which w ill lead to CEO very rapidly in short period
of time. Must be an accomplished ag lender, good working
knowledge or operations and other loan duties. Strong
documentation skills needed. Ten or more years of bank
expr. $40-45,000.
N-16 JR. AG LENDER—Strong Illinois ag bank ($17MM
with $100MM In loans) is looking for an aggressive ag
lender to market and service existing accounts and ag
loans. 1-3 yrs. min. ag banking expr. Good on documenta­
tion, new business dev. and marketing skills. Mid $20,000’s.
• Several C.E.O. and Sr. V.P. positions no t listed at clie n ts ’
requests. Salaries from $35K - $60K in choice locations.
Require top credentials and records o f success. Candi­
dates m ust be currently employed in ag-related banks of



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Rates vary from county to counly

Supplement to Northwestern Banker Newsletter 4-15-85

Federal Reserve Bank of St. Louis




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Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 4-15-85
Federal Reserve Bank of St. Louis

joins the bank from First Bank Min­
The Minnesota Bankers Associa­ neapolis.
tion, in cooperation with the Minne­
sota Safe Deposit Association, will
Illinois News
sponsor a Safe Deposit Workshop
Wednesday, April 24, at the Shera- CHICAGO: Charles W. Pacey has
been elected vice president and trust
ton Airport Inn in Bloomington.
In conjunction with the work­ officer o f The Mid-City National
shop, the M B A Safe Deposit Man­ Bank of Chicago. He most recently
ual has been completely revised by a served as second vice president of
special task force appointed by Rich- Continental Illinois National Bank.
ard Franzmeier, chairman of the
CHICAGO: National Security Bank
M B A Operations Committee.
Ludgate, Brown, and Zwart will has announced that James E. Kraconduct the one-day workshop jewski has been named first vice
which will highlight several critical president and Robert E. Cutlan has
areas important for safe deposit op­ been named vice president and head
of the retail lending division. Mr.
Krajewski joined the bank in 1965.
* * *
Mr. Cutlan has been with the bank
The following seminars have been since 1972.
planned by the American Institute
of Banking Minneapolis. All semi­
North Dakota News
nars will be held at the A IB Educa­
tion Center in Minneapolis.
Banclnsure, the captive insurance
May 7—A IB Effective Interaction company formed by the North Da­
kota Bankers Association and four
May 8—A IB Customer Relations/ other state banking associations,
Telephone Transactions Seminar; has completed incorporation and
May 16—A IB Supervising the Tel­ capitalization. N D BA will now com­
ler Line Seminar, and
mence to explain the company to
May 22—A IB Investigations in member banks and plans to conduct
Banking Seminar.
special information meetings at six
sites across North Dakota on May
ED IN A: Judy O’Hagen has been
15, 16 and 17.
named vice president, retail banking
Governed by a board of directors
division, at First Bank Edina. Ms.
of bankers and state bankers associ­
O ’Hagen joined First Bank System
ation executives, the company will
in 1959.
initially write blanket bonds, direc­
M INNEAPOLIS: A t National City tors’ and officers’ liability, errors
Bank, James R. Carlson was named and omissions or professional liabili­
vice president and officer in charge ty, and special multi-peril coverages.
of personal banking, and Roberta L. Banclnsure has contracted with the
Comstock was named vice president C.L. Frates Company of Oklahoma
and group head of the executive and City for management and underwrit­
ing. This will be an Oklahoma do­
professional banking group.
mestic company and licensed to sell
M INNEAPOLIS: John M. Brown in all five states.
has joined St. Anthony National
Banclnsure will not be in a posi­
Bank as vice president, commercial tion to write insurance on any mem­
lending. He previously was with ber bank until premium commit­
First Bank Northtown as senior ments totalling $12 million are at­
lending officer - vice president.
tained across the five-state area.
This will translate to a market peneSAINT PAUL: First Bank Security
has announced the promotion of
Mark J. Ouradnik as vice president,
with responsibility for managing the
bank’s commercial loan division. He

Minnesota News













Mosler double-decker cash vault
Mosler Century dual night depository
Three Mosler walk-up teller windows with all hard­
Mosler 400-A Alarm Systems
Brandt coin packager Model 740
Brandt coin sorter model 682
Brandt Countess Jr. document counter
Contact Ron Lucas; Phone 319/524-4355.
Federal Reserve Bank of St. Louis


Meet the

Melissa Smith

\ A f e’ll meet your needs
¥ ¥ for bankcard services,
oan participations and
quality investment portfolio

Member FDIC



^ I lS a S C i t y I U .

U nited w e g ro w Together.

10th and Grand ° P.O. Box 226
Kansas City, Missouri 64141
(816) 556-7000

tration of about 20%; a level
thought to be totally attainable.

Wyoming News
M. Clare Mundell, Dean Emeri­
tus, University of W yoming College
of Commerce and Industry and for­
mer executive vice president of the
Wyoming Bankers Association, died
March 4 at Ivinson Memorial Hospi­
tal in Laramie at the age of 79. He is
survived by his wife Edith, Laramie.
1 - 7750 2501 Proof Machine With MDC, #12
504326, Auto Feed Hopper, Cassette, 12 High
Speed Pockets #1322611, #1322612, #1322613.
3 - Model 796-101 CRT’s #12254922, #12254942,
1 - 7900-101 CRT #11413141
3 - 7901-101 CRT’s #98-14709543, #98-14591606,
3 - MCAA Boards (Asyn Adapter)
1 4 -4 .9 Mb Disks
16 -13.5 Mb Disks
1 - IOLA, IOLC, & 6530 Disk With 54 Mb Fixed/Removable #13413173 With Adapter #46-13120741
With Cabinet.
All equipment under NCR Maintenance Contract.
Contact Glenn H. Wiebke
Vice President & Trust Officer
First National Bank of Sumner
P.O. Box 206, Sumner, Iowa 50674
Phone (319) 578-3312

Financial Careers


CEO needed by $40 m illion ag bank located in town of
3,000 .............................................................Salary $50,000 +

Opening for an individual who has employee
benefits adm inistration experience. Must have
good communication, organizational, and man­
agement skills. This position is responsible for all
the daily operational aspects of the employee
benefit department as well as some customer
contact. We offer excellent company benefits and
a salary commensurate w ith experience. Send
resume and salary requirements in confidence to:

Western Iowa bank has immediate opening for AG-LOAN
OFFICER. Prefer ag degree and 3 or more years experi­
ence. Significant career w ith bank or as part of a growing
holding company. Send resume and salary requirements
to Mike Keim; 707 North 90th Street, Suite 304; Omaha,
NE. 60114.
INVESTMENT OFFICER for small regional midwestern
bank. Needs 10 years’ experience. Investment portfolio
$250 m illion. Must have excellent credentials. Salary com­
mensurate with experience. Contact file WCV, c/o North­
western Banker.
LOAN OFFICER—$50 Million Central North Dakota Bank
has an immediate position for an enthusiastic, well rounded
lender. Lender should have minimum 5 years lending ex­
perience. Excellent opportunity w ith growth potential for
right candidate. Send resume and references to: P.O. Box
1074, Bismarck, North Dakota 58502.

P.O. Box 906
Des Moines, la. 50304
ATTN: Personnel Dept.
Equal Opportunity Employer


CEO needed by purchasers of $35 m illion bank In town of
2,000. Excellent opportunity for fu tu r e ........ Salary $35,000
NO. 2 OFFICER for long-established bank in college town
of 8,000. Must have all-around experience .. Salary $40,000
COMMERCIAL LENDER to cover metro market area for
midwest bank. Musthave experience of five or more years
...........................................................................Salary $45,000
COMMERCIAL LENDER for Kansas metro b a n k ................
...........................................................................Salary $40,000
COMMERCIAL LENDER with two or more years experi­
ence for $50 m illion bank located in Midwest ....................
...........................................................................Salary $40,000
AG LENDER for $50 m illion bank in town of 8,000. Re­
quires three or more years experience plus deg re e ............
...........................................................................Salary $30,000

DIEBOLD TABS 910 ATM w ith or w ithout building. Current­
ly on maintenance contract, low usage, excellent condi­
tion. Contact First National Bank, Minden, NE 68959.
Phone 308/832-2030._____________________________ (FS)
NEW BANK EQUIPMENT leases for sale. Investment tax
credit, residual, depreciation belong to the buyer. Phone:

LOAN REVIEW OFFICER for major banking organization.
Requires experience in commercial/ag loan documenta­
tion and cash flow projectives. Some travel re q u ire d ........
..................................................................... Salary to $50,000
Write or call Malcolm Freeland or Cy Kirk in care of
Freeland Financial Service, Inc., 1010 Equitable Bldg., Des
Moines, Iowa 50309. Phone 515/282-6462. Employer pays


“ SENIOR LOAN OFFICER needed in $65 million bank in
Central Iowa. Successful candidate should be strong in all
areas of lending, knowledgeable of banking laws, able to
supervise, innovative, self starter, good organizer with
positive attitude, w illing to promote bank and be involved
in community.” Send resume to file WDA, c/o Northwest­
ern Banker.

TRUST OFFICERS - Investment & Personal
Florida, Texas, and Cleveland, Ohio. To $75K.
AG LENDER - 3-4 yrs experience. W ill lend to the
co-#2 position. East Central Nebraska. $25-30K.
Richard L. Beem, CPC
11246 Davenport Street
Omaha, NE 68154
Phone: 402/330-3260
Member National Personnel Associates
We’re Nationwide

CONSUMER LOAN OFFICER $40mm NW Iowa bank seeks
candidate w ith proven consumer lending skills. Contact
Larry Geisinger, VP, Hawkeye Bank & Trust, Spencer,
Iowa. Phone: 712/262-1940.
$40mm NW Iowa bank seeks candidate w ith 2-3 years
lending experience. Good advancement opportunities.
Contact John Bowen, SVP, Hawkeye Bank & Trust, Spen­
cer, Iowa. Phone: 712/262-1940.


tions in Eastern W isconsin with large banks. 2-4
years experience.
Salaries to $40K.
Contact Pamela J. Swenson

AG LOAN OFFICER • Visible position $130m bank. 3 + yrs
ag lending exp.
CONSUMER CR ANAL • Mgmt/growth oppty for strong
consumer lender w ith 2 + yrs exp and good cr analysis

VP COMMERCIAL LOANS— Metro Kansas bank,
assets $200mm. Minimum 5 years commercial
lending & strong in credit analysis.
Contact Pamela J. Swenson
Salary to $50K.

SR LOAN OFFICER • #2 spot in clean $30m + rural bank
w ith diversified portfolio. 10+ yrs banking as an officer.
$38 K + .

$60mm metro IL bank. Excellent profit-sharing
Contact Barbara J. Ritta

#2 POSITION • Rural ag bank near large metro area offers
stepping stone to presidency. 5 + yrs banking in rural en­

AG LENDERS—Central $50mm NE bank; #2 in
$25mm So MO bank; #2 in dept in $100 + mm SD
Salaries to $30K.
Contact Barbara J. Ritta

PRESIDENT - Challenging position in a well supported ag
bank, work-out exp a must.
COM’ L LENDER - DM bank needs 5 + yrs in a $150m + cr
loan dept. Com’l lending school & degree.
LOAN SUPV - Highly responsible position for ag special­
ist. Exp in cr anal and 8 + yrs in ag lending.
PORTFOLIO MGR - Large CO S&L has opening for indiv
versed in A&L mgmt, short/L-T investments.
AG LOAN OFFICER • 1-2 yrs ag lending exp in a bank can
lead to leadership role within 2 yrs. Deg’d w ith 3 + yrs in
bank environ musts.
JR COM’ LENDERS • Holding co needs 1-3 yr deg’d
com ’l/consumer lenders for com’l loan positions.
SR TRUST ADMIN • JD, large trust area is looking for a exp
trust professional w ith personal trust bkgd to lead their
$200m + dept.
TRUST OFFICER - Rapidly expanding dept in prime market
desires fast track trust person. JD.
R. KURT ROSENCRANTS AT (515) 244-4414



317 6th Ave, Ste. 650
Des Moines, IA 50309
(515) 244-4414


6818 Grover Street
Omaha, NE 68106
Phone: 402/397-2885

"S u c c e s s fu l B a n k in g is Q u a lity P e rs o n n e l"
Send your resume or phone Don Schooler,
417-882-2265, 2508 East Meadow, Springfield,
M issouri 65804.


COMMERCIAL LOAN • Division Head position in large sub­
urban bank. Oversee all lending functions and lend sup­
port to affiliate staffs.

Kansas ..............................................................Open

COMMERCIAL/REAL ESTATE • Medium size suburban
bank. Handle all Real Estate lending and assist with com­

bank, lending and adm inistration background and
knowledgeable in operations, Missouri . . . . Open

CEO • Suburban bank with poor performance record. Has
potential for strong adm inistrator with good commercial
loan background.

CREDIT REVIEW OFFICER for small holding com­
pany, Missouri ..............................................$40,000

AGRI-LOAN - Handle all Agri credits for $30MM southern
Missouri bank. Could lend to second man position. $30K

bank, Missouri ..................................................Open

COMMERCIAL LOAN • Addition to s ta ff of $200MM subur­
ban bank. Handle portfolio of approximately $10MM. Re­
quire degree and experience in $100MM + bank.

#2 OFFICER, AG, $20mm bank, Missouri . $28,000
PRESIDENT $60mm bank, Missouri

......... $60,000

CONTROLLER $70mm bank, Louisiana . . . $50,000
COMMERCIAL LENDER, $100mm bank, Kansas
............................................................................ Open

2024 Swift - Box 12346
North Kansas City, MO 64116
Serving the Banking Industry Since 1970

Vol. 13 No. 52 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden
Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 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.
Federal Reserve Bank of St. Louis