Full text of The Northwestern Banker : April 21, 1969, No. 1157

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Oldest Financial Journal Serving The Central and Western States

No. 1157

Des Moines, Iowa

Sm all Banks M usi P lan for Future To Survive
“ The competitive pressures of
the Seventies will bear especially
heavily on small banks, and if
they are to survive as viable,
independent entities they have to
begin planning now.”
This is the warning presented
recently by Nat S. Rogers, vice
president of the American Bankers
Association, and president of the
First City National Bank, Houston.
Mr. Rogers continues:
“ The president of a small bank
can’t do a great deal of planning
in the technical sense that the
term is used in modern corporate
life. But he can become more plan­
ning oriented, and he can outline
a workable long-term plan for his
bank.
“ He can enlarge his day-to-day
frame of reference to include a
stronger emphasis on the future.
Undoubtedly, he will have to act
as his own research department,
keeping abreast of developments
which will influence the future of
the banking industry, the economy,
his state and his community. This
broad background is an absolute
necessity before he can approach
decisions concerning the long-term
future of his bank.
“ But keeping informed isn ’t
enough, for information is valuable
only when put to use. He must

Nat S. Rogers

make up a master plan outlining
the future of his bank for at least
the next 10 years.
“ Every bank should have a mas­
ter plan. The plan formulated by
the president of a small bank may
seem a primitive effort when com­
pared to its Bank of America coun­
terpart, but that’s of minor impor­
tance. Any plan is better than no
plan at all, and when measured in
terms of relative effectiveness in
influencing the bank’s future, the
small bank’s plan could easily
turn out to be the more successful
of the two.
“ A plan is only as sound as its
factual foundation. The more you
know about your bank’s present
situation —markets, costs, compe­
tition —the more accurate your
near-term planning and the more
realistic your long-term planning.
Seat-of-the*pants planning usually
turns out to be an exercise in
wishful thinking.

April 21,1969
“ There is a tendency to over­
look the fact that half the nation’s
banks fall in the $7-million-andunder bracket. Highly sophisticated
planning is beyond the capability
of these small banks. They lack
the resources, the personnel, the
facilities. At some future time
they might be able to buy planning
from larger banks on a correspon­
dent or syndication basis. The
problem is that they can’t afford
to wait.
“ Mere talk about the population
explosion doesn’t tell much about
the kind of world banks will have
to plan for in the next decade.
Shifts in employment, for instance>
will have widely varying effects
on different communities. Agricul­
tural employment will continue to
decline, with the farm work force
numbering only about 2.5 million
people by 1S80. This may not be
a dominant factor in terms of the
over-all economy, but it will be of
major concern to banks located in
farming communities.
“ The small independent unit
banks, which form the backbone of
our dual banking system, indeed
need to take note. Their future will
surely depend on the success of
over-all community development
programs. Such programs, in turn,
will rely on total community plan­
ning efforts in which the banker
should be a leader.”

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IOWA-DES MOINES
NATIONAL BANK
Bob Buenneke

Member Federal D eposit Insurance Corporation

IOWA NEWS
C ED A R R A PID S: T h e sto c k h o ld e rs of
th e M e rc h an ts N a tio n a l B ank have
ap p ro v ed th e form ation of a holding
com pany. A pproval from the T re a s u ry
D ep artm en t an d the F e d e ra l R e se rv e
S y stem m ust be o b ta in e d befo re the
m e asu re c a n be a c te d upon. C om ptrol­
le r of th e C urrency approval had b ee n
g ra n te d p re v io u sly .
C H E R O K E E : T he C h e ro k e e S ta te B ank
h a s w ith d raw n from F e d e ra l R e se rv e
m em b ership.
C L IN T O N : D ixon C. O rr h a s jo in e d
th e Iow a S ta te S a v in g s B ank a s a
lo a n o ffic e r. H e w as form erly w ith
th e F arm ers S ta te B a n k , M arion.
D ES MOINES: J e rry W halen, form erly
w ith S uper V alu, is now w ith N orth­
w e s t D es M oines N a tio n a l B ank.
D ES MOINES: E v e r e t t S. N ew com b,
who h a s b e e n w ith th e C e n tra l N a­
tio n a l B an k and T ru s t Com pany s in c e
1937, h a s b ee n e le c te d cu sto m e r
s e r v ic e s o ffic e r a t th e bank. He is
b e lie v e d to b e th e f irs t N egro to b e
e le c te d an o ffic e r of an Iow a bank.
DES MOINES: C lifford D e P u y , c h a ir ­

m an, Northwestern Banker, and M rs.
De P u y re tu rn e d re c e n tly from a th re e month trip to A fric a , I ta ly , S p ain and
P o rtu g a l.
E A G L E G ROVE: Jo h n G overn h a s b een
prom oted to v ic e p re s id e n t of th e
S ecu rity S av in g s B ank h ere . H e jo in e d
the bank in 1963 and had m ost re c e n tly
b e e n S erv in g a s c a s h ie r.
JE F F E R S O N : R oger S co tt h a s jo in e d
th e Home S ta te B ank a s an in s ta llm e n t
lo a n o ffic e r.
L E MARS: T h e F ir s t N a tio n a l B ank
h a s file d an a p p lic a tio n w ith th e
C om p tro ller of th e C u rren c y for p e r­
m is sio n to e s ta b lis h a b ra n c h to be
lo c a te d w ith in th e N a tio n a l Farm
C e n te r co m plex on an 8 0 -ac re s i t e
w ithin th e c ity lim its of L e M ars.
MARCUS: P a u l A rndt, w ho h a s b ee n
w ith th e F arm ers S ta te B an k for th e
p a s t th re e y e a r s , h a s re s ig n e d to
a c c e p t a p o sitio n w ith th e T oy N a ­
tio n a l B a n k , Sioux C ity .
SH E L B Y : L e s lie N e ls o n , form er N e­
b ra s k a ban k ex a m in e r, h a s jo in e d th e
F arm ers S av in g s B a n k .

NEBRASKA NEWS
LIN C O L N : A p p lic a tio n by th e L e s h a r a
S ta te B ank to move to O m aha h a s b e e n
d en ied by S ta te B an k in g D irec to r
C. R. H a in e s. T h e b a n k ’s re q u e s t to
ch an g e its nam e to B an k of O m aha
a ls o w as d e n ie d .
L IN C O L N : Tw o b ill s a ffe c tin g h o ld ­
ing com pany le g is la tio n w ere h eld

Christy Armstrong

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SIOUX CITY, IOWA

in com m ittee by th e s t a t e le g is la tu r e
a t th e A pril 15 m e etin g . L B 689 w ould
ch an g e th e d e fin itio n of a one b an k
h o ld in g com pany b y au th o riz in g a
c h a n g e from o w n ersh ip of one b ank
an d n o t more th an 25% of one o th er
b an k to o w n ersh ip of n in e b a n k s and
n o t more th a n 25% of a te n th bank — in
e f f e c t, ch a n g in g to a 10 bank h o ld in g
com pany. L B 819 w ould r e p e a l th e
e n tire c h a p te r re la tin g to h o ld in g
com pany le g is la tio n now on th e b o o k s.
L B 1024, w h ich w ould ch a n g e r e ­
se rv e re q u ire m e n ts of s t a t e b a n k s to
le t them in v e s t more of th e ir free c a sh
in U. S. g o v ern m e n ts, w a s ap p ro v ed
and s e n t to th e floor A pril 15. A lso ,
L B 246, p erm ittin g s ta te b a n k s to
in v e st in c e r ta in a g ric u ltu ra l c re d it
c o rp o ra tio n s, w as s e n t to th e floor
th e sam e day.
OMAHA: R o b e rt D. Jo h n so n an d E u ­
g en e F . O ’D o n n ell h av e b e e n nam ed
a s s is ta n t c a s h ie r s a t th e D o u g las
C o u n ty B an k . Mr. J o h n so n w ill w ork
in th e b a n k ’s d a ta p ro c e s s in g d e ­
p artm en t a s a co m p u ter program m er
an d s y s te m s a n a ly s t, an d Mr. O ’D on­
n e ll is a c tiv e in th e b a n k ’s com m er­
c ia l loan d ep a rtm en t.
OMAHA: Mike Van H orne, v ic e p r e s ­
id e n t, V an H orne In v e s tm e n ts , I n c .,
h a s b ee n ap p o in ted g e n e ra l ch airm an
of th e Io w a -N e b ra sk a F ie ld D a y , w h ich
w ill b e h eld h ere May 22—23.
P E R U : F ra n k H eyw ood h as re tire d a s
ch airm an of th e b o ard of th e B ank o f
P e ru , a p o s t w h ich h e h a s h eld s in c e
1943. Mr. H eyw ood, 95, w ill c o n tin u e
a s a d ire c to r. C a rro ll L e w is , p re s id e n t
of th e b a n k , h a s b e e n nam ed ch airm an .
R o s s B. A dam s, P e ru c a ttle m a n and
farm er, h a s b e e n nam ed a d ire c to r.

The Bank That's
O n Top of Things
In Northwest Iowa

L IN C O L N
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S T . P A U L : N . J . P a u l h a s so ld h is
in te r e s t in th e St. P a u l N a tio n a l B ank
to o ther s to c k h o ld e rs a t th e bank and
h a s re tire d .

MINNESOTA NEWS
T h e M in n e so ta B a n k ers A s s o c ia tio n ,
in co o p e ratio n w ith th e F e d e ra l R e ­
s e rv e B ank of M in n e ap o lis, is s p o n ­
so rin g a s e r ie s of w ork sh o p s on th e
new tru th -in -le n d in g d is c lo s u r e r e ­
q u ire m e n ts. The f irs t m e e tin g s w ere
h eld A pril 19 in M in n e a p o lis, R o c h e s ­
te r an d St. C loud. F o llo w in g is th e
s c h e d u le for m e e tin g s to b e c o n ­
d u cted during th e nex t tw o w ee k s:
A pril 21—O w atonna, F a irm o n t, D uluth;
A pril 24—M in n e a p o lis, M ankato, B rainerd; A pril 2 6 —S a in t P a u l; A pril 2 8 M a rsh a ll, D e tro it L a k e s ; A pril 2 9 —
M in n e ap o lis, B e n so n , T h ie f R iv er
F a lls .
B L A IN E : A p p lic a tio n h a s b e e n file d
w ith th e S ta te D epartm ent of Com ­
m erce for a s ta te b a n k , the p ro p o se d
B la in e S ta te B ank , to be lo c a te d in
th e v ic in ity of 109th and U n iv e rsity
h ere . In co rp o ra to rs nam ed in th e
a p p lic a tio n are D onald C . S av elk o u l
an d H erb ert W. B a c o n , both of F rid le y ,
Minn. P ro p o se d c a p ita l stru c tu re for
th e bank is $4 0 0 ,0 0 0 . No d a te h a s
b ee n s e t for h ea rin g on th e a p p lic a ­
tio n .
M IN NEA PO LIS: H arry C. P ip e r , c h a ir­
man of P ip e r, Ja ffra y & Hop w ood, h a s
b e e n nom in ated for a th re e -y e a r term
a s gov ern o r of th e New Y ork S tock
E x c h a n g e . T he e le c tio n w ill be h eld
May 12.
M IN NEA PO LIS: T en o ffic e r p rom otions
h ave b e e n an n o u n ced by th e F ir s t
N a tio n a l B ank. New v ic e p r e s id e n ts
a re T hom as E . L e a ry , R ich a rd P . L ow ­
ry and Jo h n P . N o rth c o tt. A ll th re e
men w ere form erly a s s i s t a n t v ic e p r e s ­
id e n ts . A dvan ced to a s s i s t a n t v ic e
p r e s id e n ts w ere R ic h a rd P . P a r n e ll,
P . J a m e s S ic o ra , R o b e rt B . G ille s p ie ,
J r ., Jo h n F . H unziker and C h a rle s E .
B a s s e tt. Warren L . W illiam and T hom as
G. S le tta h av e b e e n nam ed a s s i s t a n t
c a s h ie r s .
M IN N EA PO LIS: C a lv in A. M erriman h a s
b ee n ap p o in te d v ic e p re s id e n t in
ch arg e of com m u n icatio n s an d com ­
p lia n c e for D ain , K alm an & Q u ail, In c.
Wayne H. C h e s tn u t, v ic e p re s id e n t and
r e s id e n t m anager of th e B illin g s ,

M ont.,
office h as b e e n a p p o in te d to
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Federal Reserve Bank of St. Louis

s u c c e e d Mr. M errim an a s r e ta il s a le s
m anager. R o y a l C . J o h n s o n , v ic e p r e s ­
id e n t, h as b ee n prom oted to re s id e n t
m anager to s u c c e e d Mr. C h e stn u t in
th e B illin g s o ffic e .
M IN NEA PO LIS: G ran g er C. C o s tik y a n ,
p re s id e * t of F ir s t B ank S ystem In c.
s in c e 1962, h a s re s ig n e d . H e w ill
co n tin u e a s ch airm an of th e o rg a n i­
z a tio n ’s b o ard of d ire c to rs u n til A u­
g u s t 1, w hen he w ill b eco m e a g e n e ra l
p a rtn e r in Brown B ro th e rs H arrim an &
Com pany, th e n a tio n ’s la r g e s t p riv a te
b an k . H e w ill h ead th e firm ’s C h ica g o
o ffic e . D onald R. G ran g aard h a s b ee n
nam ed a s Mr. C o s tik y a n ’s s u c c e s s o r .
H e h a s b e e n a s e n io r v ic e p r e s id e n t
a t F i r s t Bank S ystem for tw o y e a rs .

w ill be th e f ir s t o v e rs e a s b ran c h
for th e $755 m illio n d e p o s it ban k .
CHICAGO: S h areh o ld e rs of th e F i r s t
N a tio n a l B ank of C h ica g o have a p ­
proved a p lan to mak^ th e bank a
w holly ow ned s u b s id ia r y of a new
hold in g com pany, F i r s t C h ica g o C o r­
p o ratio n . C o m p letio n of th e p lan is
s c h e d u le d for la te J u n e or Ju ly . T h e
b an k w ill co n tin u e to o p e ra te u n d er
th e sam e nam e.

NORTH DAKOTA NEWS

FA R G O : H ilb e rt P fe ife r , J r . , co u n ty
a g e n t in M innew aukan, N. D ., s in c e
S ep tem b er, 1967, h a s a c c e p te d a p o s i­
tio n w ith th e F ir s t N a tio n a l B ank o f
F a rg o . He w ill be a g ric u ltu ra l re p re ­
MINNETONKA: An a p p lic a tio n h a s s e n ta tiv e in th e tr u s t d ep a rtm en t of
b e e n file d w ith th e S ta te D ep artm en t th e bank.
o f Com m erce for a s ta te b an k to b e
lo c a te d a t th e in te r s e c tio n o f C ounty
SOUTH DAKOTA NEWS
R oad 73 a n d H ighw ay 12 h ere. P ro ­
p o se d nam e of th e b an k is O ak K noll SIOUX F A L L S : S tep h en P . O lso n h a s
S ta te B an k . In co rp o ra to rs n am ed in b e e n n am ed m anager of th e new W estth e a p p lic a tio n a re : C a lv in R. O lso n , w ood o ffic e of th e N o rth w e ste rn N a ­
E x c e ls io r , M inn.; E d w ard E . Woody tio n a l B ank. H e h a s b e e n e le c te d an
and Jo h n W. P a lm e r, b o th o f W ayzata, a s s i s t a n t v ic e p re s id e n t. K . P a t MarMinn. P ro p o s e d c a p ita l for th e bank s o , w ho h a s b e e n in th e p e rso n a l
is $ 4 0 0 ,0 0 0 . No d a te h a s b e e n s e t b an k in g c e n te r of th e m ain o ffic e , h a s
for h edrin g on th e a p p lic a tio n .
b een nam ed a s s i s t a n t m anager a t
W estw ood. O th er c h a n g e s an n o u n ced
w ere th e e le c tio n o f A n n ette G u stad
MORA: B e a tta H illm an , E lle n R eg an
a s o p e ra tio n s o ffic e r a t th e m ain of­
and J e a n n e G erber h av e b e e n nam ed
fic e ; G e ra ld S. A ch e so n , a g ric u ltu re
a s s i s t a n t c a s h ie r s a t th e K a n a b e c
o ffic e r a t th e M adison o ffic e ; C h a rle s
S ta te B a n k .
E . R o g e rs , o p e ra tio n s o ffic e r a t th e
C o lo n ia l o ffic e .

ILLINOIS NEWS

COLORADO NEWS

CHICAGO: W alter E . H e lle r, 7 8 , c h a ir­
man and fo u n d er of th e co m m ercial
D E N V E R : M elvin J . R o b e rts, C olo rad o
fin a n c e firm nam ed for him , d ied of
a h e a rt a tta c k h ere.
CHICAGO: T he A m erican N a tio n a l
B ank an d T ru s t Com pany h a s a n ­
n o u n ce d th a t its a p p lic a tio n for p e r­
m issio n to e s ta b l is h an o v e r s e a s
b ran c h in L ondon h a s b e e n ap p ro v ed
by th e F e d e r a l R e s e rv e B o ard . T h is

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Kansas City, Missouri
Member F.D.I.C.

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Credit "Tie-Ins” . ..

S p e c ia lis ts in B u sin e ss
F in a n c in g and
M a n a g e m e n t S e r v ic e s .
IOWA GROWTH INVESTMENT COMPANY
• Providing tailored financing programs to
individuals or management teams thru long-term
loans and/or equity-capital investments.
• $10,000 to $200,000 — 5 to 10 year terms
• For starting, purchasing or expanding a business.

128 First Avenue, N.E.
Cedar 'Rapids, Iowa 52401
Phone (319) 363-0263
Bob Allsom Vice-President
Lon A. Warren
Sheldon Clinton
•A FEDERAL LICENSEE UNDER THE SHALL BUSINESS INVESTMENT ACT OF ISSS

N a tio n a l B ank p r e s id e n t, and D onald
D. H offm an, p r e s id e n t of C e n tra l B ank
an d T ru s t C om pany, h ave jo in tly a n ­
n o u n ced th a t e f f e c tiv e im m ediately
C e n tra l w ill jo in C olorado N a tio n a l in
th e o p e ra tio n and prom otion of th e
B an k A m ericard program in th e fouran d -o n e -h a lf s ta te R ocky M ountain
reg io n .

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c a tio n s for co m m ercial b a n k s , sa v in g s
an d loan a s s o c ia tio n s a n d o th e r le n d ­
ers , som e W ashington b a n k in g a tto r ­
n e y s b e lie v e .
M ost im p o rtan tly , th e s e a tto rn e y s
c o n te n d , th e Suprem e C ourt in its
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T h e M idw est B an k C ard S y stem is
T he d e c is io n cam e in a Case in
a m em ber of In terb an k C ard A s s o c i­
w hich F o rtn e r E n te rp r ic e s , I n c ., a
a tio n . With th is a ff ilia tio n , th e 18
K entucky ho u sin g d e v e lo p e r, ch arg ed
m ember b an k s are a b le to is s u e c a rd s
U. S. S te e l C o rp o ratio n and its c re d it
th a t ca n be u s e d n a tio n a lly and in te r ­
su b s id ia ry w ith a n titr u s t law v io ­
n a tio n a lly a s w ell a s th ro u g h ò u t th e
la tio n s b e c a u s e it w as re q u ire d to
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WYOMING NEWS
LA N D ER: T he nam e of th e L a n d e r
S ta te B ank h a s b e e n ch a n g ed to th e
C e n tra l B ank and T ru s t Com pany a s
p art of e x te n s iv e c h a n g e s e n a c te d by
th e C e n tra l T ru s t Com pany of L a n d e r,
w hich p u rc h a se d th e c o n tro llin g in te r ­
e s t in th e b an k e a r lie r th is y e a r.
In te rio r rem odeling is underw ay and
w ill be co m p leted som etim e th is sum ­
mer.

Tw o m ajor b an k s have jo in e d th e
M idw est B ank C ard S y stem , b rin g in g
to 18 its c a rd -is s u in g m em bers, it
w as ann o u n ced la s t w eek by R o b e rt
M. M a rtin d ale , p re s id e n t.
T h ey are A m erican N a tio n a l B ank &
T ru s t C om pany, C h ica g o , th e n a tio n ’s
76th la rg e s t b an k ($ 7 5 5 ,3 3 7 ,0 0 0 in
d e p o s its ) , and C om m ercial N a tio n a l
B ank of P e o r ia , I llin o is , th e 2 94th
la r g e s t ($ 1 8 1 ,1 3 3 ,0 0 0 ).

C H IL E S &COMPANY
M EM BER, M IDW EST STOCK EXCHANGE

412 Farm Credit Building, Omaha, Nebraska 68102
Phone 346-6677 (Area Code 402) Teletype 402 348-1040
LINCOLN
N ebraska

CENTRAL

.

Other Offices Located in
LEXINGTON
.
V E R M ILLIO N
N ebraska
South Dakota

NATIONAL

BANK

AND

TRUST

Member Federal Deposit Insurance Corporation

COMPANY

PO SITIO N A V A IL A B L E
M idw est b an k w ith o ver $500 m il­
lio n in a s s e t s s e e k s e x p e rie n c e d
young b a n k e r for c o rre sp o n d e n t
d ep a rtm en t. Write K R C , in c a re of
NORTHW ESTERN B A N K ER, 306 15th S t., D es M o in es, Iow a 50309.
A D VERTISING H E L P S
F o r th e a g ric u ltu ra l b a n k e r —a d s ,
m a ts, e d ito r ia ls an d n e w s le tte r s th a t
s e ll fu ll s e rv ic e b an k in g to farm ers.
S am p les a v a ila b le — F arm B u s in e s s
C o u n c il, I n c ., P . O. Box F , U rb an a,
I llin o is 61801.
WANTED
Y oung m an, w ith som e o p e ra tio n s
b ack g ro u n d . Id e a l w orking c o n d itio n s
in b e a u tifu l R ocky M ountain r e s o r t
a re a . Write G ray A d rian , P r e s id e n t,
F ir s t N a tio n a l B ank of E s te s P a rk ,
Box 40 0 , E s t e s P a rk , C o lo . 80517, or
phone 303 / 5 8 6 -4 4 8 5 .
IN C R E A SE 1969 P R O F IT S
Cy K irk and Max R oy, v ic e p re s id e n ts
of L a S a lle N a tio n a l B a n k , C h ic a g o ,
are p rep a re d to a s s i s t you and your
bank in p la n n in g in c re a s e d p ro fits
for 1969. W hether it is an a n a ly s is of
your bond p o rtfo lio or a c o s t s tu d y
of your g e n e ra l b an k in g s e r v ic e s ,
L a S a lle N a tio n a l B ank h as th e f a c il­
iti e s to s e rv e your ev e ry n e e d . C a ll
Cy or Max today a,t (A re a C ode 312)
782—5200 for im m ed iate a c tio n .

No. 1157 Northwestern Banker is published five tim es monthly by the Northwestern Banker Company, 306 Fifteenth Street, D es Moines,

Digitized
for50309FRASER
Iowa
Subscriptions 50tf per copy, $6 per year. Second c la s s postage paid at Des Moines, Iowa. Address all mail subscriptions,
https://fraser.stlouisfed.org
changes of address (Form 3579), m anuscripts, mail item s to above address.
Federal Reserve Bank of St. Louis

A.
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