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• April 25,1983 Des Moines, Iowa Vol. 12 No. 1 Senate Considers Withholding Delay ® _ ^ ^ w 0 0 m ^ 0 HE ultimate fate of the 10% withI holding bill was still up in the air last week when this issue went to press; however, the Senate was to take the matter up again April 21 after a compromise agreement had been reached to delay the implemen tation of withholding for four years. Senate Majority Leader Robert Dole (Kan.), who has been the Administration’s proponent of the with holding measure, struck the com promise with Senator Robert Kasten (R., Wis.), who had been the leading advocate of repeal. Under the compromise, withhold ing would be delayed, instead of re pealed, until 1987. In the interven ing four years, penalties would be increased for persons dicovered cheat ing on taxes on their interest and dividends. In addition, reporting re quirements for this income would be stiffened. The compromise would require the General Accounting Office to tell Congress by January, 1987, how taxpayers are complying with the tougher regulations on report ing. If the current estimated 85% compliance rate would be increased to 95% then Congress purportedly would not institute withholding. If the compliance figure was lower than 95%, Congress could impose the withholding. The American Bankers Associa tion and presumably the IBA A sup Nebraska News port the concept of the compromise, and will probably hope that the en tire idea of withholding will quietly be disposed of in the next four years. The Senate compromise was worked out last Tuesday night, April 19, but when the Senate met April 20th, in the afternoon, some of the Senator proponents of outright repeal wouldn’t budge on the com promise offer. The matter was ad journed and was to be taken up again Thursday, April 21 in the hope that the repeal advocates would sup port the delay proposal. Sen. Kasten feels this compromise gives an “out” to President Reagan, who has said he would veto any repeal, no matter what bill it is attached to. Although there was no official an nouncement immediately from the President on his feelings about the compromise, it was reported in one source that White House staffers said they would remain adamantly opposed to the compromise as well. Whether this reflects the thinking of the President, or that of Treasury Secretary Donald Regan, was not made clear. If the compromise fails, and the repeal veto wins, it is assumed Presi dent Reagan would veto it and throw the matter back for an override test in Congress. If withholding should prevail, it would become effective July 1,1983. □ The National Association of Bank Women, Mid Plains Group, will be holding it ’s annual executive night on Tuesday, April 26. The meeting will be held at the Omaha Marriott H otel, 10220 R egency Circle, Omaha. Cash bar will begin at 5:30 p.m. with dinner at 6:30. All members are encouraged to bring an executive from their bank. Following dinner, the evening will be highlighted by a talk from Dr. Nancy Wilgenbusch, who has worked extensively in the area of adult edu cation and career modification for women. She is directly responsible for marketing the programs and ser vices provided by College of St. Mary. Also under her jurisdiction are public relations, long-range plan ning, institutional research and legislative affairs. NEWMAN GROVE: First National Bank recently announced the pro motions of Jeffrey L. Gerhart to ex ecutive vice president, Tom E . King to vice president, and the appoint ment of Loren Babcock to vice presi dent. OMAHA: First of Nebraska, Inc., which owns First National Bank of Omaha, has received approval from the Kansas City Fed to purchase Valley State Bank of Yankton, S.D. (see story under Yankton this issue). YAKE, SPRENGER AND JENNINGS Getting it done for you. ¿ggfc WÊ Ernie Yake Bill Sprenger Tom Jennings 234-2483 234-2625 234-2484 CommerceBank ofKansascity https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC Tpl^nhnr»» 1£Y 99A.9nnn T ele p h o n e /R (816) 234-2000 w Tom Quinlin H o w did we qet to be first in Iowa? By putting Iowa first. IOWA . nesMQines M IrHATDMAl RANK An Affiliate of Northwest Bancorporation m Call (515) 245-3131 or toll-free (800) 362-2514 OMAHA: Duane Carl Ellermeier are calling on members of the Iowa has been elected vice president in Congressional delegation, as well as charge of the agricultural lending federal regulatory offices. Their visit and correspondent banking depart puts them in the nation’s capitol at ments at Northwestern National the same time the Senate is deter Bank, according to Edward A. Ro mining the future of the much-de llout, president and chief executive bated withholding law (see story officer. Mr. Ellermeier has been with page 1). the Columbus Production Credit * * * Association since 1977 and was The first week of group meetings assistant vice president, branch commences May 9, with Group 8 manager of the Schuyler PCA office. meeting in Davenport, followed by Group 4 in Cedar Rapids on the Iowa News 10th; Group 7 in Waterloo on the 11th, and Group 6 in Des Moines on Leadership of the Iowa Bankers May 12. Association and approximately 50 Programs for the first week of other IB A members and wives are in meetings can be found in this issue. Washington this week on the annual Programs for the second week of Washington Legislative Trip. They group meetings will be run in the May 9 issue of the Weekly Newslet ter. Group 5 will meet in Council Bluffs on May 23; Group 12 in Okoboji on the 24th; Group 2 in Fort Dodge on the 25th, and Group 3 in Clear Lake on May 26. ASK D O U G K E IP ER to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Don't gam ble when choosing o correspondent bonk. Com e to the professionals. UNITED CENTRAL BANK OF DES MOINES. N A ■ MEMBER FDIC ■ (S1S) Z45-7111 AFFILIATED WITH UNITED CENTRAL BANCSHARES, INC. TOLL FREE NUMBER (800) 362-1615 agement, becoming a board member in 1959 and president in 1966. Mr. Smith will remain active in the bank on a part-time basis and will main tain his position as a director. Montana News BILLIN G S: Cal Northam has been promoted to the position of assis tant to the managing director of First Bank System at its Eastern Montana Region. Mr. Northam joined the staff of First Bank Billings in 1981, most recently serving as the bank’s manager, business develop ment. Mr. Northam will remain in Billings, headquarters of the E ast ern Montana Region. RAPID CITY: Steve London has been elected managing officer of GRINNELL: Max A. Smith, presi Western Bank Mortgages in Rapid dent of the Poweshiek County Na City, according to T .J. Reardon, tional Bank, will retire from that president of Western Bank, Sioux position April 30. Mr. Smith has Falls. Mr. London has managed been affiliated with the bank since Western Bank Mortgages since May 1, 1950, when he began his June, 1982, and has over ten years banking career as an officer trainee. experience in mortgage lending and Since that time he has advanced servicing in western South Dakota through all levels of the bank’s man- and Wyoming. R e cip e fo r s u c c e s s .. \ Supplement to Northwestern Banker Newsletter 4-25-83 There's no substitute for finely-tuned investment hen it comes to investm ents— long-term or short-term - nothing outperform s quality. And when it com es to quality, no one beats the outstanding track record of United M issouri’s Investm ent Banking Division. Sound bond portfolio recom m endations are our business. They have been since the 1920's. You can rely on our ability to adapt in this changing financial w o iff. Today a ||tE |n o rro w , your bond portfolio w ill benefit frorftpM r consistently high standards. Call or w rite United M issouri Bank today. W e’ve m astered the a rt o f quality. |y Investment Banking Division UNITED M ISSO U RI BANK ; o f K ansas C ity n.a United we grow. Together.® I Oth and ( irand' P O Box 225 Kansas City, Missouri 64141 ' i8 16j "i jO-7200 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MFHutton One Carriers Building Des Moines, Iowa 50309 Telephone: (515) 243-1203 S&P: Moody’s: NEW ISSUE A A We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: $7,500,000 STATE BOARD OF REGENTS, STATE OF IOWA Dormitory Revenue Bonds, Series 1983 (State University of Iowa) DATED: May 1,1983 DENOMINATION: $5,000 Both principal and semiannual interest (January 1 and July 1; first coupon due January 1,1984) payable at the Of fice of the Treasurer of the State University of Iowa, Iowa City, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES AND UNDER EXISTING LAWS AND RULES OF THE STATE OF IOWA FROM “ PERSONAL NET INCOME TAX” AND “ BUSINESS TAX ON CORPORATIONS.” MATURITIES 9.00% July 1, 1985 July 1, 1986 July 1, 1987 7.70% July 1, 1992 July 1, 1993 July 1, 1994 July 1, 1995 ft nn% July 1, 1996 $200,000 July 1, 1988 6.25 July 1, 1997 225,000 July 1, 1989 6.40 July 1, 1998 225,000 July 1, 1990 6.60 7 80% 250,000 July 1, 1991 6.80 $550,000 July 1, 1999 625,000 July 1, 2000 675,000 July 1, 2001 750,000 July 1, 2002 800,000 July 1, 2003 Bonds callable July 1,1993 at par plus a premium of 1/2% for each interest payment date between the date of call and the m aturity date not to exceed 3%. $150,000 175,000 200,000 5.00 5.50 6.00 $275,000 300,000 350,000 375,000 425,000 450,000 500,000 7.00 7.10 7.25 7.40 7.60 7.70 7.80 7.90 8.00 8.00 8.00 8.00 LEGALITY TO BE APPROVED BY CHAPMAN AND CUTLER, CHICAGO, ILLINOIS The State University of Iowa is located in Iowa City in the east central part of the State. The University consists of ten colleges; Liberal Arts, Law, Medicine, Dentistry, Pharmacy, Business Administration, Engineering, Nursing, Education and the Graduate College. A major area of the University is its Health Center, including the Colleges of Medicine, Dentistry, Nursing and Pharmacy, and the University Hospitals and Clinics. The University of Iowa is a major University, not because of its size—it is the second smallest of the Big Ten Universities—but because it excels as a center for learning. The University of Iowa has experienced steady increases in enrollment over the past decade. Enroll ment is currently over 26,464. These bonds are being issued to pay the cost of the acquisition of an existing eight story apartment building (including two floors of underground parking) and the construction of repairs and improvements to bring the building up to residence hall standards building to be a part of the Dormitory System of the State University of Iowa. ACTUAL AND PROJECTED DEBT SERVICE COVERAGE Fiscal Year Gross Revenues Operation & Maintenance Net Revenues 1981-82 $16,393,608 $12,526,712 1982-83 17,191,000 13,638,000 1983-84 17,969,000 13,970,000 1984-85 17,654,000 13,861,000 1985-86 17,580,000 13,861,000 ‘ Coverage based on an assumed 9% interest cost. The was 7.7991%. Coverage* Maximum Annual Average Annual Debt Service Debt Service $3,866,896 1.82x 2.02x 3,553,000 1.68x 1.86x 3,999,000 1.89x 2.09x 3,793,000 1.79x 1.99x 3,719,000 1.76x 1.95x actual net interest cost to the State Board of Regents The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are https://fraser.stlouisfed.org Bonds of a particular m aturity may or may not s till be available or may now be available at a price or yield different from that indicated above. Federal Reserve Bank of St. Louis based. Plan to Attend Iowa Group Meetings Group 8 — Davenport Group IV Meeting May 10 in Cedar Rapids 1:00 P.M. Registration at Stouffer’s Five Seasons Center. 2:00 P.M. Business Meeting with IBA Reports and Special Presenta tions. 5:00 P.M. Social Hour. 6:00 P.M. Dinner with featured speaker IBA President Bud Pike. Group 8 bankers will meet May 9 at the Blackhawk Hotel in down town Davenport. Golf is available earlier in the day and trophies will be awarded during the banquet by Dave Stephens, SPECIAL PRESENTATIONS president of the “Ag Credit Markets” by Gary “ABA’s Community Banking Division S c o tt C ounty Benjamin, vice president and and How it Can Help You” by Bankers Associ economic advisor, Federal Reserve Ed Leahy, president, Northwestern ation. Following Bank of Chicago. State Bank of Orange City. the banquet will Entertainment will be provided throughout the Group Meeting by the String Group and be a dance fea Brass Quartet of the Cedar Rapids Symphony Orchestra. tu r in g L y le FORE Those wishing to play golf in the morning should contact John Hartman, Farmers Beaver and the State Bank, Marion, 377-4891. B r a s s N o te s. R e g is t r a t io n s D.J. MALLOY can be made through Mike Bauer, Davenport 4:00 Business Meeting. Group Group 4 — Cedar Rapids Bank & Trust, 319/383-3429. Chairman Dave Malloy, vice Special presentations by two in president, Farmers Trust & A.M. dustry leaders will be featured dur Savings Bk., Williamsburg, 8:00 Golf—Crow Valley Golf Club, ing the Group 4 meeting, May 10, at presiding. IB A activities and Bettendorf. For reservations the Stouffer’s Five Seasons Center reports from IB A President co n ta ct L arry M akoben, in Cedar Rapids. “Ag Credit Mar L.C. “Bud" Pike and IB A E x N o rth w e st B k . & T r ., kets” is the topic that will be ad ecutive Vice President Neil 319/388-2608. dressed by Gary Milner. Benjamin, vice P.M. 5:30 Social Hour. p resid en t and 3:00 Registration desk opens in 6:30 Banquet eco n o m ic a d main lobby of Blackhawk 8:00 Dance featuring Lyle Beaver visor, Fed eral Hotel. and the Brass Notes. Reserve Bank of C h ica g o . Ed L e a h y , p r e s i Group 8 Bankers... d e n t, N o rth w estern S ta te Be Sure To Be In Bank of Orange Davenport May 9th City, will focus J.B. MERIWETHER For a Whoot of A his remarks on “A B A ’s Community Banking Division and How It Can Annual Meeting! Help You.” Golf—Crown Valley Golf Club, Bettendorf. Reser vations required. Contact: Larry Makoben, Northwest Bank & Trust Co., Davenport, 319-388-2608. 3:00 p.m.-5:00 p.m. Registration—Main Lobby of the Blackhawk Hotel. 4:00 p.m. Business Meeting—Empire Room. Group Chair man Dave Malloy presiding with reports from IBA President L.C. “ Bud” Pike and IBA Executive Vice President Neil Milner. 5:30 p.m. Social Hour 6:30 p.m. Banquet—with after dinner remarks by Mr. Pike and Mr. Milner. 8:00 p.m.-11:00 p.m. Dance—featuring Lyle Beaver and the Brass Notes for your listening and dancing pleasure. REGISTRATION Meeting registration and banquet reservations can be made by contacting: Mike Bauer, Davenport Bank & Trust Co., 319-383-3429. Cost is $22.00. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.M. 1:00 Registration at Five Seasons Center 2:00 Business M eeting. Group Chairperson J . Bruce Meri wether, president, First Na tional Bank of Dubuque, will call the meeting to order and welcome the bankers. Follow ing will be remarks from: Tom Huston, Superintendent of Banking; Neil Milner, execu tive vice president, IBA ; Dale Dooley, president, IT S, Inc.; A1 Tinder, executive director, IB IS , Inc., and Sam Callahan, president, IBMC. These re ports will be followed by the special presentations by Mr. Benjamin and Mr. Leahy. 5:00 Social Hour 6:00 Dinner with featured speaker Bud Pike, president, Iowa Bankers Association. Those wishing to play golf in the morning may contact John Hart man at the Farmers State Bank, Marion. Entertainment will be provided throughout the meeting by the String Group and Brass Quartet of the Cedar Rapids Symphony Or chestra. For detailed registration informa tion contact Clair Lensing, ex ecutive vice president, Farmers State Bank, Marion. Group 7 — Waterloo FIN ai Gr°upv| » ■ H I Annual Meeting I I I * ”1* May 12 Wakonda Golf & Country Club 8:00 a.m. Golf—For reservations contact Mark Smith, Polk City Savings Bank, 984-6211. 3:00 p.m. Registration desk opens. Wakonda Golf & Country Club Clubhouse, 3915 Fleur Drive, Des Moines. 4:00 p.m. Business Meeting with Group Chairman Robert Miller presiding. Golf awards and door prizes pre sented. Panel discussion on “ Impacting Public Policy” 5:30 Social Hour 6:30 Banquet followed by remarks from Superintendent of Banking Tom Huston, IBA President L.C. “ Bud” Pike and IBA Executive Vice President Neil Milner. 7:30 p.m. Featured speaker Robert Keck, Snyergy Associates, Cincinnati, will address “ Bottomline improve ment through the promotion of wellness and stress management.” Panel Discussion Reservations Entertaining banquet speaker Tom Winninger highlights the ac tivities scheduled for the Group 7 meeting, May 11 Contact: R.T. Hay, President “Impacting Public Policy” in Waterloo. Mr. Julia Gentleman, State Senator Security State Bank Winninger has Suzanne Schenken, Lobbyist Casey, 515/746-3366 earned a reputa John Chrystal, Chmn. & Pres. tion as a color Iowa Savings Bank, Coon Rapids fu l, in sp irin g P.M. the Conway Civic Center, and highly suc 12:30 Ladies Luncheon and Style Room 12. Following the wel cessful attitude Show at Sunnyside Country come there will be reports a d ju s to r. H is Club. Bridge will be available made by IB A President L.C. topic,“Relax ... also. The cost is $6.00 per per “Bud” Pike and IB A Execu Change is In W.J. BOEHM son and pre-registration is re tive Vice President Neil evitable” is a hu quired. Milner. morous, inspirational look at change 4:15 Business Meeting. Group 5:30 Reception with hors d’oeuvres and its effects. C h airp erson W illiam J . in Room 21 of the Conway A.M. Beohm, chairman and presi Civic Center. 9:00 Golf. Contact Bill Rickert, dent, Tama State Bank, will 7:00 Banquet. Prime Rib dinner in National Bank of Waterloo. call the meeting to order at Room 23. 8:00 Entertainment. The speaker is Tom Winninger, chief ex ecutive officer, Masters Man agement Group. 9:45 Adjournment. For advanced registration contact: Gordon Wold, president, Poweshiek May 11 in Waterloo County Savings Bank, Brooklyn, Iowa 52211. The WELCOME M AT is o u t... ¿ § 1 Group VII Annual Meeting 9 :00 a.m . - 4 :0 0 p.m. Golf. C o n tact Bill R ickert, N ational B an k of W aterloo for details. 12:30 p.m .-4:00 p.m. Ladies luncheon and style show a t Sunnyside C ountry Club. $ 6 .0 0 and pre-registration is re quired. B ridge will also be available. 4:15 p .m .-5:15 p.m. Business Session. Conway Civic Center, Room 12. 5 :30 p .m .-7:00 p.m . Reception and H ors D ’O euvres, Conway Civic Center, Room 21. 7:00 p.m .-9:45 p.m. B an q u et and E ven in g P rogram . Advance Registration-$20.00 Registration at Door-$22.00 For details please contact: Gordon Wold, President Poweshiek County Savings Bank, Brooklyn, Iowa 52211 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Group 6 — Des Moines A panel discussion entitled “ Im pacting Public Policy” and a key n o te a d d re ss fo c u s in g on “Bottomline improvement through the pro motion of well ness and stress m a n a g e m e n t” are the high lig h ts of th e Group 6 meeting. Scheduled R J' MILLER Portable Modular Bank Building System s, Inc. RR45, Box 115 Hi way 73,3 V2 Miles North of Int. 680 Omaha, Nebraska 68152 (402)453-3000 Lease * Rent * Buy BANK PLACEMENT SPECIALISTS (Our 34th year) Call experienced professionals to locate the right candidate for your vacancy ... or the right “ move-up” for yourself. CORPORATE RECRUITERS MIDWEST BANKING DIVISION 202 S. 71st street 402/393-5515 Omaha, Nebraska 68132 P.M. 3:00 Registration desk opens in clubhouse of Wakonda Golf & Country Club, 3915 Fleur Drive, Des Moines. 4:00 Business Meeting with Group Chairman Robert Miller pre siding. Meeting will include panel discussion on “ Impac ting Public Policy,” golf awards and door prizes. 5:30 Social Hour. 6:30 Banquet followed by reports and remarks from Superinten dent of Banking Tom Huston, IB A President L.C. “Bud” Pike and IB A Executive Vice President Neil Milner. 7:30 Keynote A ddress—R obert Keck, Synergy Associates, Cincinnati, Ohio. for May 12 at the Wakonda Golf and Country Club in Des Moines, meet ing reservations can be made by con Minnesota News tacting R.T. Hay, president, Securi HUTCHINSON: Arthur L. Cooper ty State Bank, Casey, 515/746-3366. has been elected president and a A.M. director of First National Bank, ac 8:00 G o lf—W akonda C ou ntry cording to Arnold E . Witte, chair Club. For information and man. Mr. Witte, who has been with reservations, contact Mark First National for 21 years, is retir Smith at Polk City Savings ing as president. Mr. Cooper has Bank, 515/984-6211. served the last four years as senior Increasing Bank Deposits Through... k e it h WEIGEL IRA’s...Keoghs...Pension Plans Serving Banks in Iowa and Minnesota INDEPENDENT SERVICE COM PANY P.O. Box 171 • Albert Lea, MN 56007 507/373-8216 vice president of the First American Bank of Marshall. MAPLEWOOD: Terry Ann Saber has been promoted to assistant vice president of Western State Bank. She joined the bank in 1980 as man ager of human resources and was promoted to human resources officer in 1982. MAPLEWOOD: Vern Oberle has joined Maplewood State Bank as senior vice president in charge of the lending division, announced G. Ja ck Hillstrom, president. Mr. Oberle, who started his banking career as credit card officer with First Na tional Bank, Elgin, 111., most recent ly served as vice president, senior loan officer with Security State Bank, Mankato. Promote yourself to the head Please enter my personal subscription to NORTHWESTERN BANKER for: □ 2 years, $33 □ 1 year $18 Amount Enclosed__ __________ (This includes m onthly magazine and Weekly Newsletter) Mail subscription to: Name ___________________________________ Title Firm □ ______________________ __________________ Business ______________________ or □ Home City----------------------------- state_______ Zip 306 Fifteenth Street Des Moines, Iowa 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis You may wisn to taKe advantage of our Special Club Rate (5 or more) so you can add other officers and directors of your bank. These Club Rates are: One Year Two Years $14 each $26 each Just enclose a typed list of names and addresses and tell us whether you want the one or two year package. Send check for total, or we will be glad to bill your bank. CALL ON THE “PERFORMANCE TEAM” where com m on transactions are handled uncomm only well. FIRST NATIONAL LINCOLN ___________ 13th & M Street • Lincoln, Nebraska 68501 « Member, F.D.I.C. MINNEAPOLIS: Richard O. Weyrauch, 71, collapsed and died of a heart attack while shoveling snow at his home April 14. Mr. Weyrauch re tired in 1974 as a vice president in the correspondent bank department of First National Bank of Minneap olis. He was widely known in Iowa and southern Minnesota, where he had worked with banks for years. He is survived by his wife, Mary, at their home at 3835 Joppa Ave., South, Minneapolis, Minn. 55416. Illinois News The Illinois Bankers Association will hold its annual Retail Banking Conference May 4-5 at the Holiday Inn, Decatur. The conference is scheduled to begin at 9:00 a.m. on May 4 and conclude at noon, May 5. Speakers scheduled to address the conference include: William J . Stan ley, ABA Government Relations Staff; Glenn Larson, vice president, Visa; David Rodgers, regional direc tor, with the Comptroller of the Cur rency, and Robert Dye, vice pres ident, Financial Shares Corporation. Wednesday evening’s banquet speaker will be Mike White, head football coach for the University of Illinois. An exhibit area is also planned with approximately 25 ex hibitors participating. OAKBROOK TERRA C E: Thomas E. Elyea, vice president of Continen tal Illinois National Bank and Trust of Chicago, was elected president and director of Continental Bank of Oakbrook Terrace. He succeeds Robert J . Vinopal, who resigned to pursue other business interests. Mr. Elyea joined Continental in 1969 and most recently served as man ager of the general banking services training division. Ag Banking People Specialists Employers have been paying us to help them hire better, faster, easier since 1968. Call without cost or obligation for more information. Confidential. Jeannie: 515/263-9598 (If no answer 712/779-3567) Massena, Iowa 50853. Linda: 515/394-5827 New Hampton, Iowa 50659. South Dakota News SIO U X FA LLS: The First National Bank has announced the addition of Ronald W. Madsen and Calvin E. Willemssen to the bank’s officer I NATIONWIDE staff. Mr. Madsen has joined as vice president in operations. He most 3 0 n G4REERS, IN C . THE ORIGINAL AGRICULTURAL RECRUITER recently was an account manager with Northwest Computer Services in Minneapolis. Mr. Willemssen vice president. Mr. Kleinsasser ju st joined as vice president in commer joined the bank in July of 1982. cial lending. He previously was with The First Bank in Fargo. Wyoming News YANKTON: First of Nebraska, Inc., a bank holding company whose principal asset is First National Bank of Omaha, received approval on April 14 from the Federal Re serve Bank of Kansas City to ac quire the Valley State Bank here. The approval was made possible by the recent change in South Dakota law which allows interstate acquisi tion of a single South Dakota bank. First National of Omaha plans to ex pand substantially its credit card base of customers. This is expected to result in approximately 50 addi tional employees located in Yank ton, plus an expansion of the work force in Omaha. North Dakota News CROSBY: At Farmers State Bank of Crosby, Jon Hanisch has been promoted to vice president in charge of agriculture and Herbert Kleinsasser was promoted to cashier. With the bank 12 years, Mr. Han isch had been serving as assistant EVANSTON: Robert Adams has re cently joined Pioneer Bank as assis tant vice president. He most recent ly was with the Saratoga State Bank where he served as senior vice presi dent and a member of the board. Colorado News G R E E L E Y : Alan L. Lord has been appointed president and chief ex ecutive officer of Cache National Bank of Greeley. Mr. Lord originally joined Cache National in 1962 as ex ecutive vice president and managing officer and became its president in 1964. He transferred to Greeley Na tional Bank in January, 1980, as its president and chief executive officer. DEN VER: Colorado National Bank of Denver recently elected Gregory J . Ellena vice president, according to Bruce Rockwell, chairman. Mr. Ellena joined the bank in 1977 as a trainee. In 1980 he was promoted to real estate loan officer and later named assistant vice president. McGladrey Hendrickson Invites you to attend: CRITICAL ISSU ES 1983 Tuesday, May 3, 9:00 a.m.-6:00 p.m. Hyatt Regency Woodfield, Chicago A program for chief executive officers and key marketing personnel of small and medium-sized community banks, focusing on how to profit from changes in the banking industry, with special emphasis on deregulation and bank marketing strategies. Featuring Arthur Lucey, president of Lucey and Sharpe, producers of the Monitor of Current and Emerging Issues, and Jim Koltveit, Banking Industry Services Coordinator for the accounting firm of McGladrey Hendrickson & Co. ________________ To register, call Jim Koltveit, (309) 794-1020. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W ANT ADS Rates a re $5.00 per line per insertion. A dd $3.00 fo r file letters per inse rtio n . Id e n tity o f file le tte r advertisers cannot be revealed. NORTHWESTERN BANKER, 30615th Street, Des Moines, Iowa 50309. Phone 515 / 244-8163. __________________ Walk down the tellers line this morn ing. Are you proud of their appear ance? If not, call us and find out how only $ 1 .0 0 per day per teller will help. ÆeAMoekk-^ CAREERAPPAREL WANT TO BUY Used Pitney Bowes Postage Meter Mailing System. Con ta ct Clarke R. Gellermann, Griswold State Bank, P.O. Box C, Griswold, Iowa 51535. Phone: 712/778-2265. (WTB) N. Main St., Carroll, la., 51401 712-792-2748 | POSITIONS AVAILABLE CEO for smaller community bank located in eastern Iowa. Must be ag-oriented and know lending and operations. . . . .....................................................................Salary to $30,000 Ag Lender for northwest Iowa community bank. Prefer Iowa State grad with three years or more experience.......... ...........................................................................Salary $26,000 Correspondent Officer for $150 million midwest bank. Must have commercial and/or ag lending experience and be w illing to travel....................................... Salary to $30,000 Commercial Loan Officer for bank in 8th Fed District of Illi nois. Position can lead to e.v.p. position within six months. Assets over $50 m illion................................... Salary $40,000 Coordinates, expedites, and fosters development of business, commerce, and industry. Degree in business or related field, masters preferred. Pro ven ability for adm inistration and coordination. Starting salary in upper $20K’s, depending on qualifications, plus benefits. Contact: POSITION AVAILABLE (PA) A ffiliated Midwest Bancs Inc., a progressive group of six banks is looking for a COMMERCIAL LOAN OFFICER for a $33 million bank in S.E. Nebraska; and an AGRICULTURAL LOAN OFFICER for a $60 m illion bank in central Iowa. Prefer 3-5 years experience for both positions. Salaries commensurate w ith experience. Send resumes to Jack Ayres, P.O. Box 486, Bellevue, N E68005.____________ (PA) $32 m illion community bank in central Illinois has opening for LOAN OFFICER w ith consumer and agricultural lend ing experience - operations background and/or computer experience a plus. Must be aggressive, self-starter and able to accept responsibility. Send resume and salary history in strict confidence to file TBR, c/o Northwestern Banker.________________________________________ (PA) COMMERCIAL LOAN OFFICER for a $75 m illion west cen tral Minnesota bank. Send resume to file TBS, c/o North western Banker. (PA) POSITIONS AVAILABLE All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma Safekeeping, Trading, Cashiering, metro bank to $30,000 Commercial Loan Officer, $300mm bank Mr. Banker: It’s Our Business To Help Your Retailer’s Business! We are specialists in: • Instant Cash Raising Sales •Inventory Reduction Sales •Going Out of Business Sales •Store Management Consulting • Profitability Research •All Types of Special Promotions CAPITAL PROMOTIONAL SERVICES F.O. DAVIS & ASSOCIATES 1105 State St. Tama, IA 52339 515/484-2479 FOR SALE $30,000 + Installment Loans, small town to $25,000 #2 Man, surburban bank to $35,000 Operations Officer, small town to $30,000 President, $50mm bank, small town Open Commercial Lender, medium sized town $40,000 President, $10mm bank, small town $35,000 Auditor, 1 year experience, suburban town $18,000 Positions available change as more openings become avail able or as positions are filled. If you are interested in making an advancement or change in your present situation, as a candidate registered w ith me, you w ill be informed as posi tions come available that would appeal to you based on what YOU want in a bank, in salary, in location, and in size of town or city. I do not reveal your name to a client bank un til you are interested in interviewing. Eighteen years of banking service as President o f both rural and metropolitan banks enables me to find the right bank ing environment for you. Phone or send resume to: Don W. Schooler, 901 A. West Jackson, Ozark, Missouri 65721. Phone (417) 485-6020. CHOOLER In ASSOCIATES ‘Successful Banking is Quality Personnel" Marketing Executive w ith commercial lending experience w ith major midwest bank...............................................Salary $40,000 Attorney experience in trusts and estates plus high perfor mance investment record..............................................Salary $45,000 Ag Lender w ith over 20 years o f experience and excellent record. Prefers central or southern Io w a ... .Salary $28,000 Installment Lender w ith multi-bank holding company. Seven years experience and college degree. Prefer north ern or central Iowa..........................................................Salary $23,500 Ag Lender with Iowa State Degree and one year’s ex perience w ith major bank.............................................. Salary $17,000 Ag Lender w ith Iowa State Degree and seven years ex perience........................................................................... Salary $30,000 If you need qualified officer material, call or w rite Malcolm Freeland, Freeland Financial Services, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays modest fee. SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 SKI THE SUMMIT! BURROUGHS S 100 SINGLE POCKET PROOF MACHINE. In excellent working condition. $100. Call John Outhier, Okey-Vernon First National Bank, Corning, la. Phone: (515) 322-3101._______________________________________ (FS) ATTENTION NCR USERS: 775 proof w/16 pockets, tape drive, disk packs, 775 com puter w/printer and more. Phone W ill at (308) 432-5553._____________________________(FS) WHITE SERIES 7300 POWER FILE. Fourteen levels. Con ta ct James R. Michaud, Union Story Trust and Savings Bank, Ames, Iowa. Phone: (515) 232-8200. (FS) Call me Toll Free to discuss our 1983 Building Plans. DWAYNE SMITH Phone 1-800/922-2590 Paradise Properties, Box S Dillon, CO 80435 POSITIONS AVAILABLE PRESIDENT— rural $20MM bank in medium size communi ty. Agriloan and operations background desired. $36,000 $30,000 + SVP, Commercial Lending, smal I town CEO heading com m unity bank for major multi-bank holding company seeks position in Minnesota/Wisconsin area. Excellent references...................................Salary Neg. V.PJCashier w ith heavyoperations experience. Prefer eastern Iowa or Illinois location................................... Salary $25,000 Generate Instant Cash From Inventory INSTALLMENT LENDING POSITION in $40 million westcentral Iowa bank. Previous installm ent lending ex perience required. Salary open. Send resume to Roger Fleury, Financial Service Company, P.O. Box 3128, Omaha, NE 68103.______________________________ (PA) Senior Ag Lender, age 40, Iowa State Grad., handles $20 m illion portfolio w ith minimal charge-offs. Could be strong second man..................................................................$40,000 Auditor w ith multi-bank holding company. Over 15 years experience.......................................................................Salary $26,000 City of Fridley 6431 University Avenue, N.E. Fridley, MN 55432 Phone 612/571-3450 ext. 152 Operations position In Illinois bank in west central Illinois. Some experience in lending helpful.............. Salary $26,000 Write or call Malcolm Freeland, Freeland Financial Ser vices, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. Commercial Lender, age 36, over 10 years o f experience w ith multi-bank holding company - proven track record -solid references..........................................................$38,000 Commercial Lender, 40, over 10 years experience in $80 m illion bank. Works heavily in inventory and accounts re ceivable financing.......................................................... Salary $35,000 ECONOMIC DEVELOPMENT ASSISTANT A. A. — E.O.E. BANKERS AVAILABLE CEO o f high performance bank seeks new challenge with Upper Midwest com m unity bank in or near a city of 10,000 population............................................................. Salary Neg. CHIEF INVESTMENT OFFICER Highly respected and successful Bests A + pro perty, casualty, and life insurance organization seeks Chief Investment Officer to manage $300 mil lion portfolio. Supervises broker/dealer operation affiliated w ith personal financial planning ser vices. Additional opportunity exists to form and manage an investment advisory operation to pro vide investment services to other organizations. The individual we seek w ill be a seasoned invest ment professional who has successfully managed a large portfolio in banking, insurance, invest ment houses, pension funds, or a mutual fund. In addition, skill in developing and selling financial services would be a strong plus. Attractive com pensation and desirable life style in a city with ex cellent life quality. Contact in confidence: Charles H. McDonald Vice President AID Insurance Co. (Mutual) Box 974, 701 Fifth Avenue Des Moines, Iowa 50304 Call collect AC 515/280-4267 An Equal Opportunity Employer OPERATIONS—#3 position in $60MM com m unity bank. Accounting degree and 5 yrs. plus experience in sim ilar size bank desired. $35,000 SECOND OFFICER—small rural bank w ithin short dis tance of larger community. Prefer Agriloan experience and insurance licenses. $20,000 COMMERCIAL LOAN— addition to sta ff of $80MM subur ban bank. Degree and 1-2 yrs. commercial lending ex perience required. $26,000 JUNIOR OPERATIONS—$30MM credit union w ith two branches. Prefer bank experience. $18,000 AGRILOAN—rural bank of $20MM. Requires 2 yrs. or more agri-lending background. $18,000 SENIOR LENDER—large com m unity bank seeks ex perienced commercial lender to manage all lending areas. $45,000 Additional opportunities are available for junior and senior level bankers. Resume' and salary history requested. TOM HAGAN & ASSOCIATES of Kansas City (PA) 2024 Sw ift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970“ Vol. 12 No. 1 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, 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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