Full text of The Northwestern Banker : April 18, 1988 : Northwestern Banker Newsletter, Vol. 17, No. 1

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•

Vol. 17 No. 1

Des Moines, Iowa

April 18,1988

but to declare them insolvent. Those
banks were then closed and the re
mains sold to another bank, or depo
By BEN HALLER, JR.
ers) live with.” Mr. Alexander iden sitors paid off. Borrowers were
tified as “bait” the offer made by either taken care of by the assuming
Publisher
bill sponsors that would possibly bank, another area bank, or, those
HE Farm Credit System is on allow about 2,500 of the smallest with a shaky or negative financial
the prowl again. Deja Vu!
banks to discount their loans at the base had no alternative but to sell
That’s what many upper midwest Intermediate Credit Banks. “The out or file bankruptcy. Hard times
bankers are saying now as they en fact is the law now on the books per ensued. New laws were passed, basi
counter an onslaught of cases where mits all banks to discount their cally to penalize banks for having
the Omaha Federal Land Bank and loans with the ICB. What has block “thrown farmers off their land.”
its PCAs are undercutting bank loan ed this from becoming a reality has Chapter 12 and other onerous laws
rates and their own rates to main been the regulations of the Farm and regulations were put in force.
tain present customers and secure Credit System.”
Throughout this, the FCS entities
new ones. As this scenario unfolds,
The ABA opposed the bill. The were finally identified as big losers
bankers recall the sanctimonious IBAA supported it because of the with their loan portfolios. Some of
protestations of FCS leaders in 1980 “ window of o p p o rtu n ity ” for them were basically insolvent—
that they had no intention of utiliz smaller banks to discount through hopelessly so. In their case,
ing the proposed H.R. 4782/S. 1465 the ICB. On December 15, 1980, however, their regulators didn’t
amendments to the Farm Credit Act H.R. 7548 was passed by Congress. shut them down. They turned to
of 1971 to steal bank customers and Within days after it was signed by Congress for a bailout with tax
become the kingpin of ag lending na the president, Land Banks and dollars (which includes their taxtionwide.
PCAs began raiding bank custo paying bank competitors). After du
The late Willis Alexander, then mers, offering greatly reduced rates ly studying the matter, Congress
executive vice president of the below what were then market rates said, “Why not. We’ll protect your
American Bankers Association, to induce a switch to FCS. As the stockholders (the agency bondhol
warned 1,000 ag bankers attending 1980s saw land prices boom, fre ders). We’ll give you the $4 billion
the ABA National Agricultural quently with easy financing made you need, but mend your ways. Go
Banking Conference in Washington available through FCS loans, the and sin no more!”
in October, 1980, that H.R. 7548 “is Land Banks and PCAs grew to
End of dreaming. Enter the real
a banking bill, pure and simple,” not record volumes. Suddenly, it was world:
a farm or even a farm financing bill. time to pay the piper!
Both the Nebraska and Iowa
He warned it would “formally and
Many agricultural banks which Bankers Associations are being in
finally create a nationwide banking had to compete in this milieu of ris undated with complaints from their
entity exempt from any discipline of ing costs, narrowing margins and members about new incursions into
its monetary policy impact, exempt rate-cutting competition, eventually their customer base by the Omaha
from most forms of taxation, ex failed when their privately financed Federal Land Bank and its PCAs
empt from the consumer protection bank capital was exhausted and since the bailout. These are the folks
and disclosure laws that we (bank their regulators had no alternative who gave the Farm Credit System

Banks Accuse FCS of Rate Cutting

•

m
^

^
w

COUNTONIt

Count on Com m erce for superior capabilities and personal attention to your
correspondent banking needs. A combination weVe upheld for m ore than 120 years.
Give us a call.

1800 892-7100 1800 821-2182

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

(Outside Missouri)

lut Commerce Bank
of Kansas City

Norwest Bank Des Moines, N.A.
C a ll (515) 245-3131 o r toll-free (800) 362-2514
Member FDIC

NORWEST BANKS

mmmmm
mm^rnm

SUBSTANDARD & NON-ACCURAL
AG CREDIT LINES IN PORTFOLIO?
Qualified ag banker available for short
& long-term assignments to specialize
in work-outs w ith classified accts. Re
ferences say perf. is good. Exprd. w ith
FmHA subord. & FDIC $25,000 +

Ye am work: .
one of the reasons
we’re first in Iowa.
John Cretzmeyer

Jay Nichols

multi-billion losses with their loan
portfolio management of the past
several years.
The NBA and IBA are documen
ting numerous cases where Land
Bank and PCA representatives are
actively pursuing every potential
customer they can find, especially
those who became disenchanted
with the FCS and returned to the
commercial banks many of them had
abandoned several years ago for the
seductive siren call of lower FCS
rates. Whatever current bank rate is
being charged, the Land Bank andI
or PCA will undercut that rate. If
the bank is willing to shave some
thing off its margin that is already
narrower than in former productive
days, the Land Bank will counter
with a continuing lower offer until it

Dennis Earhart
MNB Correspondent Banker

Together We Can
Accomplish
Great Things

SERVING BANKERS IN THE MIDWEST

C a n d id a te A v a ila b le s

gets the business.
Eventually, all this is getting
quoted rates to many prospective
borrowers down to a range from
8.2% to 8.75%. Iowa Bankers
Association accumulated within a
short period of time, from ju st one
quick mail request, dozens of letters
documenting cases showing where
FCS has taken away customers with
these inordinately lower rates, or
continues to offer them to wavering
bank customers. In many cases, the
bank customers have long memories
and have elected to forego the temp
ting FCS offer.
Last week, when 45 IBA bankers
and spouses were in Washington,
D.C., for their annual legislative
trip, they presented their two
Senators and five Congressmen with
a packet of the first batch of letters
and phone call records that reached
IBA headquarters in the week prior
to the trip. Their question to their
Congressmen was simple, “Was this
what you had in mind when Con
gress enacted the FCS rescue bill?”
The information also was shared
with Frank Naylor, chairman of the
Farm Credit Administration, which
has been appointed regulator of the
FCS, as well as with each of the
federal regulators dealing with
banks—the Fed, FDIC and Comp
troller. Updatings of the responses
received by IBA will be added to the
voluminous file turned over to the
ABA during the IBA briefing at
that office.

CEO/BANK MGR...Twenty-five yrs.
bank expr. w ith strengths in RE/consumer & comm'l Idg. Excellent refer
ences. Prefers rural community bank.
$35,000.
MIDWEST PERSONNEL
Linda R. Heit
N ew Hampton, IA 50659
515-394-2325

There are many points of discus
sion that can be brought forth in
regard to this hotly debated matter.
Several should receive priority:
1. FCA should ride close herd on
this situation to determine if, in fact,
funds are being dangled before pros
pective customers below cost—and
that means all costs.
2. The Omaha Land Bank has
published rates from which its loan
officers are deviating. Those loan of
ficers are cutting the rate to
whatever it takes to get below the
local bank rate after it learns from(
the farmer what rate the bank is of
fering. If the Land Bank is success
ful in stealing that customer by this
method, it is ordering the customer
as part of the deal not to disclose to
a bank the lower rate th a t’s been
given.
3. Many Land Bank deals offer
an even further reduction in rate if
the prospective borrower will aban
don the local bank for operating
loans and get that money, instead,
from the PCA.
4. It would be well to point out to
all existing FCS borrowers who are
quietly paying previously con
tracted for rates of, for example,
11% to l l 1/2 %, that their area Land
Bank and/or PCA is giving the same

For Professional Correspondent Service
Call 1-800-622-7262

Call 319-368-4789
or toll free 1-800-332-5991
Strength
Eastern
|owa
Merchants
National
Digitized forCedar
FRASER
Rapids. Iowa 52401
Member
C
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
fd i

ThereJk A Difference In Banks...

Valley National Bank £
Bank isi

BANKS OF IOWA BANK

Main Office - Sixth and Walnut
DES MOINES. IOWA 50304

A BANKS O F IOWA BANK
Member FDIC

fÉ^ÉIl
JAMES F. MacLEAN
Vice President

H. PETER DeROSIER
Vice President

P
BANKERS JWJUUUUE

•

AA-1 PRE8/CE0—20 years banking career includes 14 years
with 1.5 billion bank holding company. Past five years
has been Regional President of 7 banks totalling 310mm
in assets and also President of 125mm bank. Has man
aged investment and trading portfolios and has excellent
track record in net income earnings. BA Degree in Bus.
Admin. Attended numerous bank seminars and schools.
Has served on several Governor appointed Task Force
and Advisory Bank Boards. Available immediately.
$50,000-860,000. Call 515/394-5827.
AA-2 VP—Sr. Credit Officer and responsible for 18mm
loan portfolio. Has proven record of reducing classified
credits. Has done extensive work with micro computers
and writing program templates. Experience includes
supervisory duties. According to a reference, “Good
Problem Solver! Very Good Technical Skills! Good Rap
port with People!” Has 4-year Degree and attended sev
eral banking schools. $40,000-845,000. Call 515/394-5827.

•

AA-3 AGLOANOFFICER—Over four years lending experience
plus sales experience. Desires management position or
potential. Has Ag Economics Degree and attended vari
ous banking schools and seminars. $30,000-$35,000. Call
515/394-5827.
AA-4 INSURANCE SALES—Registered Insurance Agent seek
ing position in bank agency. Excellent sales record.
Licensed in all areas plus Securities and Investments.
Reference says, “Wish I had him back — BLUE CHIP
PERSON!” Will relocate. Base plus commissions. Call
515/394-5827.

AA-5 AG LOAN OFHCER/SPECIAL CREDIT OFHCffi-Two years ex
perience includes long and short term lending and ad
ministering to special and adverse credit with FCS. Ac
cording to reference, “strong ag background and very
knowledgeable with strong lending practices. Discip
lined, organized and punctual. HE’S TOPS!!!” Associates
Degree in Ag Bus. management. $30,000-835,000. Call 515/
394-5827.
AM-6 0PERATI0NS/LENDING—Four-and-one-half years Bank
experience. Handles Real Estate Loans. Operations and
Management duties also. “He was always willing to do
anything for us. We still use the programs he set up for
us,” quoted reference. $23,000-$28,000. Call 712/779-3567.
AM-7 INSURANCE—Nineteen years Insurance experiencefifteen years Manager. Currently responsible for increas
ing agency’s premium volume from 300k to 500k in South
Dakota Bank. A reference stated, “He is a very dedicated
man and is as honest as the day is long.” $24,000. Call
712/779-3567.
AM-8 LENDING—Involved in Credit and Lending for eleven
years. Veteran in Ag, Installment and Commercial Loans.
Trained in Money Market Accounts — IRA’s and Time
CD’s. Excellent in analysis and collections. Very good
with FmHA Loans. $25,000-$30,000. Call 712/779-3567.
AM-9 0PERATI0NS/CASHIER—Eight-and-one-half years VP and
Cashier experience in a 43mm Northwest Iowa Bank.
Responsible for installation of automated teller machine.
Very good computer and management skills. Available
immediately. $28,000. Call 712/779-3567.

We serve as the source to locate candidates who meet
your qualifications and are interested in your bank
community and salary range. We are available to
assist but allow and encourage your direct contact
with our candidates. You make the choice and
decision without pressure.

MARTY REW
712/779-3567
Hwy. 92 W., Box 140
Massena, IA 50853

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Our fee is paid by the employer and is based on a percentage of
the first year’s compensation. All placements are guaranteed. A
complete explanation of our services, fees, and guarantees will
be sent at your request.

ANNETTE FAHNING
515/394-5827
Hwy. 63 S., Box 307
New Hampton, IA 50659

AM-10 BANK MANAGEMENT/CASHIER—Thirteen years bank ex
perience. Excellent cashier and CFO work performance.
Strongest in operations, but not weak by any means in
lending. Holds BA in Economics and Bus. Admin. Has
in-depth experience in all areas of bank. $35,000. Call
712/779-3567.
AA-11 AVP—Ten year banking career includes ag, com
mercial and real estate lending in a $200 mm bank. Ex
perience also includes being branch manager of a bank,
personnel administrator, business developer and lending
services. “Outgoing, dedicated and loyal. Very good cre
dit knowledge with strong computer background,” says
reference. ISU grad. Agriculture degree with emphasis
in finance and law. Prefers NW III. $30,000. Call 515/3945827.
AM-12 CE0/SR. MANAGEMENT—25 years banking experience.
President/CEO in 42mm “A” rated bank. Bank has grown
15mm in 6 years. Responsible for all phases of running
bank. Excellent management skills. $45,DUU-$55,U00. Call
712/779-3567.
AA-13 EVP/C00—As a CPA, candidate has ten years experi
ence in accounting and banking. Currently administering
entire accounting function including reporting, budgeting
and procedures for multibank holding co. “Has excellent
communications skills, hard worker, dedicated and very
knowledgeable in banking,” said reference. “A VERY
NICE GUY,” says another reference. Accounting/bus.
admin, degree. $35,000-345,000. Call 515/394-5827.
AM-14 LOAN 0FFICER/VP—Eleven years credit experience.
Responsible for making a profitable bank out of troubled

one. Excellent skills in lending and management. A refer
ence stated, “he is very strong in organization, meeting
deadlines and taking the initiative.” $30,000-$35,000. Call
712/779-3567.
AA-15 SPECIAL CREDIT LOAN OFFICBI-Over six years FCS ex
perience with on-going long and shortterm credit. Experi
ence includes one and one-half years servicing adverse
and classified loans. Former supervisor says, “organized
and level headed with good knowledge of production
agriculture.” Agri. bus. degree from U. of Wise. Will relo
cate. $22,000-$28,000. Call 515/394-5827.
AM-16 TRUSTOFFICER—Eleven years in Trust & Investments.
Holds JD. Responsible for being awarded an 850mm
Trust Account. Excellent in turnaround situations. Ready
to work right now. $45,000. Call 712/779-3567.
AA-17 AGLOANOFFICER—Ag, consumer and installment lend
ing experience obtained past four years in bank and with
FCS. “Dedicated, solid, loyal young man. Very intelligent
and has broad and rounded ag background,” com
mented reference. Outstanding young man who is avail
able immediately. Ag bus. degree with concentration in
finance. Familiar with micro computer. $28,000-$30,000. Call
515/394-5827.
AM-18 LOAN 0FFICER/VP—Eleven years lending experience.
Solid ag background and proficient in computers. Areas
of experience include SBA and FmHA loans. Real Estate
sales, Hail Insurance, Adjuster and Commodity Broker
experience also add to background and experience. Ex
cellent management skills. Works all loans. $30,000$35,000. Call 712/779-3567.

POSITIONS AVAILABLE
CASHIER/MGR—100mm bank in Central
Iowa. Requires experience in Regula
tory Reporting, Investments and Audit
ing. Must have supervisory skills and
a good knowledge of computers.
Accounting Degree and Bank expe
rience needed. Good advancement
opportunities. $25,000-$30,000.
VP—Small bank in S.E. Iowa. Must be
well seasoned and experienced in all
areas of lending. Need to be outgoing
and aggressive and want to live in a
small town. Close to metro area. Re
quires a Degree. $25,000-$30,000.
LOANOFFICER—S.E. Iowa Bank. Requires
experience in all areas of lending.

712/779-3567
Hwy. 92 W., Box 140, Masseria, Iowa 50853

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Must have a good computer back
ground and a 4-year degree. Nice
community. Excellent opportunity.
$25,00Q-$30,000.

portunities for right person. $27,000$38,000.

AVP—N.W. III. Bank in need of an Ag
Loan Officer. Requires knowledge of
Consumer and R.E. lending and ability
to handle large accounts. Prefer Ag
Degree. Close to metro area. $25,000$30,000.

INSURANCE SALES—Bank agency in W.
MN. Requires previous insurance
sales experience and all insurance
licenses. Prefer R.E. sales and ap
praisal experience. Will perform some
accounting duties. Must be outgoing
and able to develop new business.
Base plus commissions.

AGLOAN0FFICER/AVP—Major ag lender for
large bank in S. Ml. Must be well
versed in ag lending and be able to
develop and administer peripheral
services. Excellent advancement op

VP/BR. MGR.—Small S. MN Bank. Must
be STRONG CREDIT ANALYST &
OUTGOING to develop new business.
Computer background helpful. Close
to large town. $30,000-$35,000.

agri c a r e r s , inc.

515/394-5827
Hwy. 63 S., Box 307, New Hampton, Iowa 50659

OVER 60%
P OF ALL BANKS IN OUR MARKETAREA ARE NO W INSURED
BY THE KANSAS BANKERS SURETY COMPANY

That’s R ig h t. . . In th e nine states w e serve w e h ave solved th e b on din g needs for
6 of every 10 banks.
That's over 1 6 .4 % of all banks in the United States

THE REASONS. . .
)

SUPERIOR SERVICE
MOST COMPETITIVE PREMIUMS
REALISTIC UNDERWRITING
PROMPT CLAIMS SERVICE

IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COM PANY...
GIVE US A CALL - YOU’LL BE GLAD YOU DID.

THE KANSAS BANKERS
SURETY COMPANY
DAVID E. ABENDROTH
Senior Vice President

DONALD M. TOWLE
President

611 Kansas Avenue P.O. Box 1654
Topeka, Kansas 66601
Phone 1 -9 1 3 -2 3 4 -2 6 3 1
FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION,
DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Serving th e H e artla n d of A m eric a since 1 9 0 9

OVER 60%
OF A U BANKS IN OUR MARKETAREA ARE NO W INSURED %
BY THE KANSAS BANKERS SURETY COMPANY

That’s R ig h t. . . In th e nine states w e serve w e h ave solved th e b on din g needs for
6 of every 10 banks.
Thafs over 16 .4 % of all banks in the United States

THE REASONS. . .

SUPERIOR SERVICE
MOST COMPETITIVE PREMIUMS
REALISTIC UNDERWRITING
PROMPT CLAIMS SERVICE

IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COM PANY...
GIVE US A CALL - YOU’LL BE GLAD YOU DID.

THE KANSAS BANKERS
SURETY COMPANY
DAVID E. ABENDROTH
Senior Vice President

DONALD M. TOWLE
President

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Serving th e H e artla n d of A m erica sin ce 19 09

money to a competing neighbor for
perhaps 3% less!
If Congress is going to subsidize
the Farm Credit System bailout
with the public’s tax dollars (in
cluding ours) then it has a compa
nion responsibility to see that Farm
Credit A dm inistration properly
oversees the FCS units so that they
don’t revert to the same methods
that got them in trouble before.
One last thought. If FCS units
also can offer farm customers com
plete insurance coverage, then why
all the haranguing in Congress
about not allowing banks to have
authority to sell insurance?
□

Iowa News
^
9

k
A

DES MOINES: First Interstate
Bank has announced the promotion
of Joan Thompson to vice president,
retail sales manager at the West Des
Moines office. She joined First In
terstate in 1982 and became an investment officer in 1984.
LE MARS: Gordon Mennen, presi
dent of LeMars Savings Bank since
1954, was recently promoted to
chairman and CEO. As reported last
month in T h e N o r t h w e s t e r n B a n k
e r , new president is Henry A. Ahlers.
NORWAY: A t Benton County Sav
ings Bank, recent promotions included Dennis D. Day to executive vice
president, Karen Himmelsbach to
vice president of operations and
Marjorie Becker to vice president of
administration. Mr. Day joined the
bank in 1977. Ms. Himmelsbach will
continue her duties as cashier. Ms.
Becker’s duties include student
loans, compliance and computer
operations.
WATERLOO: A t Peoples Bank and
Trust Co., Dennis E. Egel has been
promoted to senior vice president of
the trust division. He has 11 years
of experience in trust and is also an
attorney. Kevin J. Brooks was pro
moted to vice president at the Cedar
Falls office. He joined the bank last
June as office manager of the Par
kersburg office. Dennis R. Wubbena
has been advanced to vice president
of personnel and marketing. He
joined the bank in 1984 as personnel
director.
WATERLOO: R. Scott Fetner,
president of The National Bank of
Waterloo, announced on April 13
that the acquisition of the First
Community Bank & Trust in Traer
and The First National Bank of

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Planning for future development
and other management services

SW ORDS ASSOCIATES. INC.
P R O F E S S IO N A L B A N K IN G C O N S U L T A N T S

2 Brush Creek Blvd. Kansas City, MO 64112
(816) 753-7440

Tama County in Dysart received
final approval from regulatory
authorities. These two banks and
their two branch offices in Clutier
and Vining will become full service
branches of NBW on May 13 (First
Community Bank & Trust) and May
20 (First National Bank of Tama
County).

Nebraska News
The Nebraska 1988 NABW State
Conference will be held on May 6
and 7 at the Marriott Hotel in
Omaha. The host group will be the
Mid-Plains Chapter. Theme of the
conference is “ M astering the
Future,” while the general session
will address the topic “Constant
Change is Our New Reality.” Also
included in the conference will be a
workshop led by Shirley E. Furr,
National Membership Chair, on
“ M astering Our Responses to
Change.” NABW National Director

Diane L. Van Boxtel will describe
how members make NABW work
for them in “You Make It Happen.”
Speaker for Friday night’s banquet
will be Cynthia Milligan, director of
the Department of Banking and
Finance. For more information, con
tact Doris Capps at (402) 536-2319.
HOLBROOK: Charles R. Leffler,
Sr., chairman of Security State
Bank here, has announced that
federal regulatory approval was
received April 1 to merge Security
State Bank into Security National
Bank in Sidney. Mr. Leffler also is
chairman of the Sidney bank.
Reginald Warner, executive vice
president, will continue as chief
operations officer at Holbrook. At
1987 year-end, Security State Bank
had assets of $10,251,000. The
merger brings assets of Security
National in Sidney to $61,740,000,
deposits of $52,009,000 and capital

W e are p lea sed to announce that

CURTIS D. KYHL, CFA
has jo in ed our firm as a

Managing Director

Investors Management Group, Ltd.
720 Liberty Building
418 Sixth Avenue
Des Moines, Iowa 50309-2410
(515)244-5426

Io w a G r o u p s 4 a n d 8 T o M e e t
Group 4— Dubuque

GROUP 4
ANNUAL
MEETING
DUBUQUE INN
BEST WESTERN
May 2, 1988

Featured Speaker
Allan T. Thoms
Director - Iowa Department
of Economic Development

Group 4 bankers will be meeting
at the Dubuque Inn Best Western
on Monday, May
2. Chairing the
meeting will be
James P. Lage,
president, Citi
¡■ ¡¡È
zens State Bank
in Postville.
Arrangements
may be made for
morning golf at
A
Dubuque’s Bun
J.P. LAGE
ker Hill Golf
Course by calling George Steph
enson at 319-589-4261.
The afternoon will feature a
special presentation by Allan T.
Thoms of the Iowa Department of
Economic Development, entitled
“Economic Development in Iowa
Communities.” Entertainment will
be provided by the Dixieland All
Stars & Sing-A-Long.
P.M.
1:30 Registration opens.
2:30 Welcome—James Lage.
News from the Superinten
dent of Banking—Ed Tubbs.
IBA Overview—Neil Milner.
4:00 Break—poolside.
4:15 Economic Development in
Iowa Communities—Allan
T. Thoms.
5:00 Social hour/cash bar.
6:00 Dinner.
Remarks by IBA Pres. Clair
Lensing.

Dixieland All Stars & SingA-Long.

Group 8— Davenport
The 1987 Group 8 meeting will be
held in Davenport at the River Cen
ter, and will be
chaired by J.
R o b ert Bunn,
president, Clar
ence S a v in g s
Bank, Clarence.
G olf w ill be
available in the
morning at Ern
ies Golf Course
ft
in Davenport.
J.R. BUNN
Reports will
be given at the afternoon meeting by
Group 8 Secretary James A. Matthys, IBA Executive Vice President
Neil Milner, and IBA President
Clair Lensing. Banking Superinten
dent Edward Tubbs will speak at
the banquet, which will feature dancing with the Brass Notes.
P.M.
3:00 Banquet registration.
4:00 Business meeting.
Secretary’s report—James
A. Matthys.
IBA activities—Neil Milner.
Remarks—Clair Lensing.
5:15 Adjourn.
5:30 Social hour/cash bar.
6:30 Banquet.
Golf awards.
Remarks—Edward Tubbs.
Dancing with Brass Notes.

Davenport is the Place to be for the

GROUP 8 ANNUAL MEETING
Tuesday, M a y 3, River C enter
— Entertainment —

2:30
4:15
5:00
6:00

Golf:

Business Meeting
Mr. Thoms
Social Hour
Dinner

Ernies Golf Course
Reservations Required

Business:
4:00 Meeting
5:30 Social Hour
6:30 Banquet/Entertainment

Special Entertainment:
“Dixieland All Stars &
Sing'A'Long”
“The Brass Notes"

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Federal Reserve Bank of St. Louis

F irs T ie r

More o f what it takes
to serve you well.

Correspondent Services
^

5s? ^

Lincoln • Omaha
FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC

accounts of $4,597,000. Security Na
tional also has a branch in Harrison.
Mr. Leffler also owns Crawford
State Bank, which has $16,300,000
in assets.
LINCOLN: A t Vistar Bank, Janies
F. Nissen has been elected chairman
f and CEO, a new position. Dana L.
Henricksen was elected to fill the
position of president vacated by Mr.
Nissen. Both have been associated
with Vistar for several years. Mr.
0 Henricksen’s prior title was ex
ecutive vice president.

^
w

OMAHA: A group of investors
headed by Michael L. Dahir, former
chief financial officer of FirsTier
Financial Inc., has made an offer to
acquire control of the Omaha State
flank by buying its parent company,
Omaha State Corp. Details of the
purchase were not disclosed. As of
year-end 1987, the bank had assets
of $55 million. Mr. Dahir said he
would become CEO of the bank and
the holding company, and present
staff would be retained. Bank presi
dent and founder Eugene J. Zaloudek said he expected to leave the

•
^

DON-yS

AND- @ )

c HCXXER
V)ASSOCIATES

■"Successful Banking is Quality Personnel"

POSITIONS AVAILABLE
PRESIDENT, $60mm outstate, 10,000 population,
strong marketer .................... $60,000 + incentive
PRESIDENT $30mm ag bank, strong leader and
administrator................................................$50,000.
PRESIDENT, $10mm ag bank, total ag background
........................................................................ $35,000.
PRESIDENT, $80mm, commercial and consumer,
top to w n .................................................. $75,000 + .
PRESIDENT, $30mm, growth situation, one-rated,
noag ........................................................$50-60,000.
PRESIDENT, $75mm S & L, this Is a top situation .
........................................................................$75,000.
AQ LENDER, primarily real estate oriented, 5,000
population ....................................................$30,000.
AQ LENDER, strong real estate background,
warm c lim a te ................................................$30,000.
LOAN ORIGINATOR, S & L, great location $25,000.
CASH MANAGEMENT, has handled billion plus
positions ......................................................$80,000.
CONTROLLER, $60mm bank, A/L management,
strategic planning ..................................... $35,000.
DON W. SCHOOLER
2508 East Meadow
Springfield, Missouri 65804
(417) 882-2265

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

bank but would remain in the bank has been promoted to senior vice
ing industry.
president/manager, affiliate sales for
Norwest Investment Services, Inc.
He will continue as manager for the
Minnesota News
South Dakota office. Mr. Lindquist
MINNEAPOLIS: Susan E. Lester joined Norwest in 1982 and previ
has joined First Bank System, Inc., ously was a vice president.
as vice president, accounting policy
and tax. She was most recently asso YANKTON: Larry Ness, president
ciated with the Minneapolis office of of First Dakota National Bank, has
Ernst & Whinney, where she served announced that his bank has entered
as senior manager for the First Bank into an agreement to purchase the
stock of American State Bank, also
System account.
located in Yankton, and will assume
ST. JAMES: Patrick T. Stallman the assets and liabilities of that in
has joined Citizens State Bank of St. stitution. The P&A was negotiated
James as president. He previously through regulatory authorities and
served as vice president of Citizens the application is in process at the
Bank and Trust Company in H ut Comptroller of the Currency’s office.
chinson. Prior to that he was branch It is expected the the transaction
manager of the Production Credit will be completed in May and the
Association in Marshall.
two banks will be merged as one at
that time. First Dakota, Mr. Ness
South Dakota News
said, has assets of about $62 million,
BROOKINGS: Douglas Miller has while American State has about $63
been named president of the Nor- million in assets. The American
west Bank in Brookings. He suc State figure is down from the nearly
ceeds Rick Kolkman, who has pur $82 million in assets reported at
chased a business in Watertown. 1986 year-end. The merged bank
Mr. Miller joined Norwest in 1972 would have approximately $125
and most recently was vice presi million in assets, which would make
dent, private banking in Sioux Falls. it the seventh largest bank in the
SIOUX FALLS: Denny Hoffman state. Mr. Ness said Marvin Steffes,
has been named vice president/trust president of American State, will
for the Norwest Bank South Dakota continue with First Dakota as a vice
Capital Management and Trust De president. The American State
partment in Sioux Falls. He joined building and its one office in
Norwest last year as a trust in Yankton and its branch in Ver
million will continue to be operated
vestment officer.
by First Dakota National, Mr. Ness
SIOUX FALLS: William Lindquist said.

DOES YOUR BANK NEED AN INVESTMENT CENTER?
• New high net worth customers
• Added profit
• Reduced deposit loss to competitors
• Ability to offer complete financial services

Y o u r b e n e fits :

For information contact:

INVESTMENT

1-800-544-7113
First Dakota Building
P.O. Box 2796
Bismarck, ND 58502
or
P.O. Box 65697
West Des Moines, IA 50265

BANKING

"Professional assistance in hiring
and career advancement"

careers

REQIONAL TRUST OFFICER— Multi-bank holding com
pany needs seasoned trust officer to handle all trust work
for several area banks. Need good marketing skills and_
md .
management abi Iity...............................................To $40,0(

quality service by experienced professionals

525 Merle Hay Tower
Des Moines, Iowa 50310
515-276-1151

Jean Eden
515- 276-1151

r rmt m
Sandi Gamer
515- 832-1258
Tues / Wed / Fri

Confidential. Fees Paid by Employer.

RYAN AUCTION CO., INC.
Decorah, Iowa 52101
Farm Equipment Specialist
Appraisals & Auctions
Call Dale Ryan 319-382-8648

position. Needs a take-charge, analytical, people-oriented
person who understands overall operations, is experi
enced in A.L. mgmt & aspires to become part of mgmt
team. Salary commensurate with experience. Send
resume to File No. WND c/o Northwestern Banker.
(PA)
Wanted—aggressive marketing person to fill position as
EXECUTIVE DIRECTOR of Ottumwa area Chamber of
Commerce, Ottumwa, IA. Letter of application, including
salary requirements and resume, should be submitted to:
Pres., Chamber of Commerce, Box 308, Ottumwa, IA
52501.
(PA)

SERVING THE UPPER MIDWEST
Serving bankers quietly and efficiently

R egency
RECRUITERS, INC.

Diane Evans

1102 Grand Avenue,
Kansas City, MO 64106
816/842-3860

CANDIDATES AVAILABLE
LOAN OFFICER
Generalist in finest sense of the word. Has worked on real
estate, small business, floorplan, ag an installment loans
in past five years of banking. Analytical professional, self
starter. Great references. Needs very little supervision.
$25K.

C A P IT A L P E R S O N N E L S E R V IC E

714 First Interstate Bank Building
Des Moines, Iowa 50309
515-283-2545

Estate Appraisals
Purchase of
Collections
Sale of Rare Coins
R e lia b le and respected service
fo r over 20 years

FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS

Ben E . Marlenee
Coins

317 6th Ave, Ste. 650
Des Moines, IA 50309

(515) 244-4414
ALL FEES COMPANY PAID

LOAN ORIGINATOR— Newly created position for e:
mH
perienced commercial lender wanting the challenge and
opportunity to use marketing skills for career advance
ment.................................................. $35,000 + commission.

Financial Careers, Inc.
Two Ruan Center/Sulte 1000, Des Moines, IA 50309
515/245-3786
Employer pays fee.

chance to manage your own dept.? Prestigious bank
group has an immediate opening in ND for a motivated
com'l lender to direct its entire lending function. Must
have 10+ yrs. com’l lending exp. and a degree.
To$55K.
Job #NW3113
VP—COMMERCIAL LENDER—Are you looking for a more
progressive bank? Rapidly growing bank located 1 hour
from Mpls seeks ambitious Com’l Lender. Must have 3 +
yrs. exp. and proven business development ability. Don’t
miss this opportunity!
To$45K.
J ob#N W 31lf
EVP AG LENDER—Are you motivated by a challenged
West Central MN bank seeks outgoing Ag Lender to fill its
EVP role. Must have 4 + yrs. ag lending exp. along with
strong communication skills.
To$30K.
Job#NW3115.
FOR MORE INFORMATION
CONTACT PAUL GENTZKOW
OR SUE KEITHAHN

ROBERT URLF

OF MMNESOTA,MC.

3636 IDS Center
Minneapolis, MN 55402

(612) 339-9001

EX VP
Can your bank be performing better? Top notch lender well
trained in big city commercial and rural ag now available!
Tremendous worker currently #2 In high performance bank
enjoys second person role but desires shot at #1 on down
the line. Will earn it.
$37K.

ROBERT MffBLF

P O S IT IO N S A V A IL A B L E
COMMERCIAL LENDER— Banking professional with for
mal credit training and experience in a large commercial
department............................................................. To $50,000.

Used by bankers
th ro u g h o u t the m idwest

913 Locust
Des Moines, Iowa 50309
515-243-8064

ALL FEES COMPANY PAID

POSITIONS AVAILABLE
TRUST MARKETING • large urban bank. Requires degree
and trust experience.
$35K
REAL ESTATE LOAN - single fam ily residential and secon
dary market experience required. Proximity of major metro
area$40 K
LOAN REVIEW - large bank experienced required. Both
junior and senior level positions available.
$28-$40K
COMMERCIAL LENDING - V.P. positions in urban and
large suburban banks. Personal portfolios from $20MM to
$50MM.
$40«
BRANCH MANAGER - handle small business and con
sumer credits. Med-size com m unity a ffiliate of multibank
holding company.
$24K
Additional listings for commercial lending and
trust officers. Resume’ requested.

TOM HAGAN & ASSOCIATES
P.O. Box 12346/2024 Swift
North Kansas City, MO 64116
816/474-6874

“Serving the Banking Industry Since 1970”

Vol. 17 No. 1 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, $24.00 per year. Second class postage paid at
Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden
St., #201, Des Moines, Iowa 50309.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis