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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 Treasurer. 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 On March 19, 1985,an FDIC legal opinion rescinded an opinion issued in 1979 that had concluded that mul tiple custodians of State funds in time deposit accounts in FDIC-insured banks qualified under the FD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 counts. T 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 nies. 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 Bluffs. Call on the “Experienced Professionals” Ready to meet your correspondent needs. ü First N a tio n a l Lincoln A FirsTier Bank Member. F.D.I.C. 13th & M Streets, Lincoln, Nebraska 68501 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 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 Dodge. 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 ASK DENNIS EARHART 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK 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 banker. 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 president. Peter DeRosier... Our newest correspondent banking professional 1- 800- 332-5991 Merchants ^ 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 Bank. H. PETER DEROSIER Vice President Valley National Bank ¡5 DES MOINES, IOWA 50304 Member FDIC A BANKS OF IOWA BANK 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 Association 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 lender.” 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 https://fraser.stlouisfed.org 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 aOfl CAREERS, INC. -J AG BANKING PERSONNEL SPECIALISTS 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 follow-up.” liked her Ron Molstad Bank, bringing long-term credit ex pertise. “ He has good communication skills, works hard and is conscien tious. He has demonstrated an abil ity to deal with the stress of the times.” 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’ POSITIONS AVAILABLE AG BANKERS AVAILABLE 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 MAINTAIN THE CONFIDENCE YOU DEMAND. We do not 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 Jean. 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. https://fraser.stlouisfed.org 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. NL-16 INSURANCE AGENCY MANAGER— Insurance 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. NJ-21 AG LENDER—A real PROBLEM SOLVER! Currently 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. N-4 COMMERCIAL LOAN OFFICER—$60MM E. IA bank. 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. $35K. 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. N-10 BANK INSURANCE AGENCY M R G S.-N eeded for 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 commissions. 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. $25-30,000. 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 best. Our clients depend on us for QUALITY. Our candidates depend on us for CONFIDENTIALITY. Linda 515/394-5827 New Hampton, la. 50659 i Jean 515/263-9598 (W/F) 712/779-3567 (M/T/TH) Massena, Iowa 50853 aqri careers,inc. - / A 3 BANKING PERSONNEL SPECIALISTS 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 $25-$100MM. w i ? & v, B l jfe } ' II B ii mu, I M H p H ■ H a ifa fi m. Ä te r •••■. B RBll UCC LOAN ACTIVITY REPORTS BULLETIN F rom Iow a P u blic R ecord s S earch Iowa Search invites you to get acquainted We’re a privately owned com pany providing many types o f public records inform ation • By telephone, receive UCC Lien Search information— in less than Z minutes— while you’re on the line. • By mail, receive UCC Loan Activ ity Reports Bulletin or other search information — guaran teed accurate. • Right now, clip and mail this ad for a free one-month trial sub-% scription to our UCC Loan Activ- ity Reports Bulletin — a $32 value. Bulletin includes name of debtor, secured party, file num-S ber, date/hour of filing, and type of document. Our services compliment each other. They make you more effi-r; cient, more professional. For a complete list of services, call Iowa Public Records Search. 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We’ll halt your subscription and you w ill not be obligated for payment. ‘ Monthly subscription cost for Polk County https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rates vary from county to counly Supplement to Northwestern Banker Newsletter 4-15-85 WBÊ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis REPORTS BULLETIN UCCLQAN n From Search Network, Ltd. Search Network invites yon to get acquainted. We’re a privately owned com pany providing m any types of public records inform ation. • By telephone, receive UCC Lien Search information — in less than 2 minutes— while you’re on the line. • By mail, receive UCC Loan Activ ity Reports Bulletin or other search information — guaran teed accurate. • Right now, clip and mail this ad for a free one-month trial sub scription to our UCC Loan Activ- ity Reports Bulletin — a $25 value. Bulletin includes name of debtor, secured party, file num ber, date/hour of filing, and type of document. 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Rates vary from county to county https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 4-15-85 https://fraser.stlouisfed.org 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. erations. 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 Seminar; 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 0 • • • • • • 0 ^ 0 _ ® • FOR SALE Mosler double-decker cash vault Mosler Century dual night depository Three Mosler walk-up teller windows with all hard ware 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (FS) Meet the problem solvers. Melissa Smith \ A f e’ll meet your needs ¥ ¥ for bankcard services, oan participations and quality investment portfolio recommendations. hi UN ITED MISSOURI BANK Member FDIC q | ^ 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. FOR SALE 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, #12254834 1 - 7900-101 CRT #11413141 3 - 7901-101 CRT’s #98-14709543, #98-14591606, #98-14709937 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 TRUST OFFICER, EMPLOYEE BENEFITS ADMINISTRATION 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. (PA) 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. (PA) 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. (PA) VALLEY NATIONAL BANK P.O. Box 906 Des Moines, la. 50304 ATTN: Personnel Dept. Equal Opportunity Employer (PA) 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 FOR SALE 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: 319/362-9579. (FS) 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 fee. POSITIONS AVAILABLE “ 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. (PA) 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 GUMBERT EXECUTIVE EXCHANGE, INC. 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. (PA) ASSISTANT VICE PRESIDENT-LOAN DEPARTMENT $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. (PA) BANKING OPPORTUNITIES POSITIONS AVAILABLE TRUST OFFICER EMPLOYEE BENEFITS—2 posi 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. $26K. CONSUMER CR ANAL • Mgmt/growth oppty for strong consumer lender w ith 2 + yrs exp and good cr analysis skills. LOW-$20’s. 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 + . COMMERCIAL LENDER— possible Sr LO in $60mm metro IL bank. Excellent profit-sharing plan. Contact Barbara J. Ritta To$45K. #2 POSITION • Rural ag bank near large metro area offers stepping stone to presidency. 5 + yrs banking in rural en viron. $30K. AG LENDERS—Central $50mm NE bank; #2 in $25mm So MO bank; #2 in dept in $100 + mm SD bank. Salaries to $30K. Contact Barbara J. Ritta PRESIDENT - Challenging position in a well supported ag bank, work-out exp a must. $50K. COM’ L LENDER - DM bank needs 5 + yrs in a $150m + cr loan dept. Com’l lending school & degree. $45K. LOAN SUPV - Highly responsible position for ag special ist. Exp in cr anal and 8 + yrs in ag lending. $35K. PORTFOLIO MGR - Large CO S&L has opening for indiv versed in A&L mgmt, short/L-T investments. $45K. 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. $20-25K. JR COM’ LENDERS • Holding co needs 1-3 yr deg’d com ’l/consumer lenders for com’l loan positions. MID-$20’s. SR TRUST ADMIN • JD, large trust area is looking for a exp trust professional w ith personal trust bkgd to lead their $200m + dept. $42K. TRUST OFFICER - Rapidly expanding dept in prime market desires fast track trust person. JD. $35K. FOR FURTHER INFORMATION FOR THESE AND OTHER POSITIONS RESPOND IN CONFIDENCE TO: R. KURT ROSENCRANTS AT (515) 244-4414 Í w— M> HI H> m ® RO BERT »HILF 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID DON •CSlcHOOLER In PROFESSIONAL RECRUITERS 6818 Grover Street Omaha, NE 68106 Phone: 402/397-2885 AND- ff îÙy j ) ASSOCIATES "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. POSITIONS CURRENTLY AVAILABLE POSITIONS A V A IL A B L E COMMERCIAL LOAN • Division Head position in large sub urban bank. Oversee all lending functions and lend sup port to affiliate staffs. $40K HEAD OF COMMERCIAL LENDING $90mm bank, Kansas ..............................................................Open COMMERCIAL/REAL ESTATE • Medium size suburban bank. Handle all Real Estate lending and assist with com mercial. $35K CHIEF ADMINISTRATIVE OFFICER $150mm 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. $50K 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 HEAD OF COMMERCIAL LENDING $140mm 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. $40K #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 TOM H A G A N & A SSO CIA TES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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