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April 9,1984

Des Moines, Iowa

Vol. 12 No. 51

Citibank Invades Twin Cities, Omaha








cards, referrals to its Person-to-Person (industrial loan and investment
company) office in Omaha, etc. The
Council,” an N BA release said,
“ authorized official N BA support of
any opposition to such a move by
Citicorp... to ward expanding into the
Nebraska bank market in the man­
ner indicated.”
The activities listed in Citicorp’s
application to the Fed on March 14
for such authority would be to estab­
lish subsidiaries to acquire any
types of loans, sell credit insurance
products, perform industrial bank
activities, acquire sales finance con­
tracts, sell its consumer products,
and make mortgages.

TP WO major metropolitan areas in rently pays 8% interest, com­
I the upper midwest—the Twin pounded daily; CDs have a mini­
Cities and Omaha—have been tar­ mum o f $500 in assorted maturities.
geted by expansionist-minded Citi­ The account includes a MasterCard;
bank of New York for introduction a personal line of credit up to
of further personal banking services. $25,000 may be opened, and mort­
Through its Citibank South Dakota gage loans will be made. Discount
in Sioux Falls, which was chartered brokerage service is supposed to be
in recent years with the help of Gov. in place in May. Credit insurance is
William Janklow, purportedly as a available.
Cost for the CFA is $2.67 a
“ shadow” bank for credit card oper­
ations purposes, Citibank is now month— $32 annual.
While the announcement was be­
spreading out into surrounding
states seeking day-to-day banking ing made in the Twin Cities March
business from other banks’ custo- 28, the Minnesota Senate Economic
Development and Commerce Com­
In the announcement of the Twin mittee was debating a bill that
Cities venture, which was duplicated would have allowed interstate own­
Iowa News
in Tampa, Fla., and Atlanta, Ga., on ership of banks through regional in­
A delegation of officers and mem­
the same day, Citibank said it is of- terstate banking. That night, the
fering its Citibank Financial A c­ committee voted down the bill, pro­ bers of the Iowa Bankers Associa­
count to area residents simply by posed by Minnesota Gov. Rudy Per- tion is in Washington, D.C., this
using a toll-free W ATS line to Sioux pich, by 9-6. A similar bill died ear­ week making its annual visit to fed­
Falls headquarters, thus obviating lier in the Iowa and Nebraska legis­ eral regulatory offices and to the
Iow a delegation o f C ongress.
the current ban on branching or in- latures.
Minnesota bankers didn’t like the Among matters being discussed is
terstate banking. While the press
conference announcement was being invasion by the nation’s largest an IB A proposal to Vice President
made, a media blitz was informing bank, but said there is little they can George Bush and to the Fed Board
Twin Cities residents of the avail­ do about it since there is no ban on that would permit the USD A and
draining the state’s deposits away IRS to take steps to aid farmers in
ability of the account.
The CFA reportedly has more to another state by telephone, mail their comeback from the disasters of
the past several years. Am ong the
than 50 financial products and ser­ or advertising methods.
The Nebraska Bankers Associa­ suggestions is the idea to have the
vice options available with one con­
solidated monthly statement. It soli­ tion earlier learned that Citicorp IRS allow farmers to sell their ac­
cits checking deposits on which a plans to open five offices in the cumulated capital losses or invest­
7% rate is paid on $2,500 balance or Omaha area “ for the purpose of ment tax credits to investors, simi­
more; 5 Va % on balances less than opening bank or bank-like services, lar to current “ safe harbor leases.”
$2,500; the CitiSavings account cur­ including the servicing of credit It was stated this could bring bil-

C A L L O N T H E “P E R F O R M A N C E T E A M ”
where com m on transactions
are handled uncommonly well.

Federal Reserve Bank of St. Louis

13th & M Street

Lincoln, Nebraska 68501 • Member, F.D.I.C.

Norwest Bank Des Moines, N.A.
Call (515) 245-3131 or toll-free (800) 362-2514


Member FDIC

T e a m w o rk :
one o f the reasons
w e ’re first in Iow a.
Bernie Kersey

Dorothea Wolfe

lions into agriculture and the farmer
would get necessary capital.



A one-day microcomputer semi­
nar for banks will be presented by
Financial Systems, Inc. on three dif­
ferent days in April:
April 17—Stouffer’s Five Season
Hotel, Cedar Rapids;
April 18—Des Moines Marriott
Hotel, and
April 19—Hilton in Sioux City.
Registration for the seminar will
begin at 8:30 a.m. with the program
running from 9:00-3:30. For more in­
formation and registration contact
the Iowa Bankers Association.
DES MOINES: Norwest Bank Des
Moines, N.A. has announced the

to m ake M NB
work for you.
Toll free
1- 800 - 332-5991

National Bank IS I
Member F.D.I.C.

Federal Reserve Bank of St. Louis

promotion of James W. Woodsmall
to vice president, card services. Mr.
Woodsmall joined the bank in 1982
and was named second vice presi­
dent later that year.
man has joined Security State Bank
here as assistant vice president in
the loan department. He previously
was a bank examiner with the Fed­
eral Reserve in Chicago for four years.
STANHOPE: Bob Van Diest and
his wife of Webster City have pur­
chased the Farmers State Bank in
Stanhope from the John A. Walker
family. Mr. Walker will be remain­
ing with the bank in an interim per­
iod as president. Jeff Plagge has
been named executive vice president
and managing officer. He currently
is area vice president of PCA and
has managed the Webster City
branch the past three years. Mr.
Van Diest and Norman Skadburg,
president of the First State Bank,
Webster City, have been named to
the board of Farmers State. Mr. Van
Diest plans to apply to the State De­
partment of Banking and the FDIC
to merge First State Bank and
Farmers State Bank. Upon appro­
val, the merged First State Bank
will operate offices in both Stanhope
and Webster City.

Nebraska News
ALLEN: First Laurel Security Co.,
of Laurel, has received approval
from the Federal Reserve Bank in
Kansas City to acquire Security
State Bank of Allen. First Laurel Se­
curity is also the bank holding com­
pany for Security National Bank of
Laurel. A new president is expected
to be named in the near future.
OM AH A: Shareholders o f First Na­
tional Lincoln and Omaha National
Bank voted in excess of the required
two-thirds majority needed to au­
thorize officials o f the holding com­
panies for the two banks to merge

their operations under the name of
FirstTier, Inc. The formation of
FirstTier had been announced sev­
eral months ago, uniting the state’s
two largest banks under one holding
company, as authorized by the 1983
Nebraska legislature, which passed
enabling legislation for multi-bank
activity. The Fed Board needs to ap­
prove the merger and this is antici­
pated soon.
O M AH A: Omaha National Bank
has been selected as the official credit
card processing for telemarketing
sales of Olympic commemorative
coins issued by the U.S. Mint. The
telem arketing program , which
began on March 24 in some U.S.
cities, will spread nationwide and
continue into the fall. A 1983 and
1984 silver dollar will be sold at $32
each. A $10 gold coin will be in­
cluded with the two silver coins in a
three-piece set for $416.
SCOTTSBLUFF: Don L. Smith has
been promoted to executive vice
president o f Scottsbluff National
Bank. He will be responsible for su­
pervision o f loan activity, loan offi­
cers, bank operations and bank in­
vestments. He is also presently sec­
retary of the board.

Minnesota News
The Minnesota Bankers Associa­
tion lending committee will sponsor
an in-depth workshop on loan docu­
mentation and analysis o f article
nine of the Uniform Commercial
Code April 11 at the Radisson South
in Bloomington.
Developed by the Professional
Education Group for M BA, the pro­
gram will be conducted by John
Moye, a partner in the Denver Colo.,
law firm of Head, Moye, Carver, and
Ray, and a professor of law at the
University of Denver College of
AD RIAN : Howard W. Meyer has
been promoted to executive vice
president of Adrian State Bank. He
formerly was vice president and loan
administrator for the bank.
M INNEAPOLIS: William A. Laing
has been named senior vice presi­
dent in charge of the retail division
of F&M Marquette’s Southdale and
Banking, Financial & Business Personnel
Iowa and Nationwide

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

Supplement to Northwestern Banker Newsletter 4-9-84

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for finely-tuned

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 recomm endations are our business.
They have been since the 1920’s.
You can rely on our ability to adapt in this
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Investment Banking Division

of Kansas City n.a
.I U nited we grow. Together.
1Oth and Cirand >■P.O. Box 226
Kansas City, Missouri 64141 o (816) 556-7200
Federal Reserve Bank of St. Louis
Federal Reserve Bank of St. Louis









B rook d a le d etach ed fa cilities.
Before joining the bank, Mr. Laing
was president of Marquette Bank
and Trust Company in Rochester.
MINNEAPOLIS: Michael R. Hogan
has been named senior vice president, business development, of FBS
Insurance. Mr. Hogan most recently
was an engagement manager at the
consulting firm o f McKinsey and
Company, Inc., in Chicago, 111.
M INNEAPOLIS: Jack V. Pederson
and Roger L. Scharton have been
named vice presidents by First
Bank Minneapolis. Mr. Pederson
joined the bank in 1981 in the business owners section. Mr. Scharton
has been serving in the executive
and professional banking center.
Hollatz, president of the Farmers
State Bank, has announced the elec­
tion of Richard L. Mell as vice presi­
dent. Mr. Mell most recently was as­
sociated with the Franklin State
ST. PAUL: First Bank Saint Paul
has elected Fenwick C. Atwill as ex­
ecutive vice president. He will develop and direct a new credit adminis­
tration function. He retired Febru­
ary 29 as executive vice president in
charge of the credit administration
department of First Bank Minneapolis, his employer since 1946.

North Dakota News



The North Dakota Bankers A sso­
ciation Agriculture and Consumer
Credit Committees, under the leader­
ship of Frank Keogh of First BankFargo, and Dick Klein of First BankBismarck, have completed plans for
the 1984 A g Credit and Consumer
Credit Conference to be held May
8-9 at the Sheraton Riverside,
There will be two joint sessions,
starting with the keynote address
by Dr. Sung W on Sohn, economist

with Norwest Bank Minneapolis.
The second half of the conference
will be a joint session on “ Negotiat­
ing for Positive Banking Relation­
ships” with Larry Cipolla, president
of Cipolla Companies Inc., Edina.
In between the joint meetings,
there will be concurrent sessions
from which bankers may choose.
The consumer credit track will
feature a presentation on the “ Fu­
ture of Consumer Lending” by Bill
Adkins from the First National
Bank in Topeka, Kan. Robert Dye
from the Financial Shares Corpora­
tion, Chicago, will give an in-depth
look at loan pricing and related
A t the same time, the agricultural
credit track will start off with the
status of the 1984 federal farm pro­
grams by Richard Goldberg, a
North Dakotan who is now Deputy
Under-Secretary for International
Affairs and Commodity Programs
with the U.S. Department of Agri­
culture. N D B A ’s attorneys will then
present a follow-up on what banks
should be doing to comply with the
1983 law on secured transactions.
The agricultural segment will finish
with a comprehensive look at selling
fee-based services to farmers by
Lonnie Parsons of the Western
State Bank, Devils Lake.

dent in loans at the bank and previously was with First Wyoming
Bank - Rawlins.

Montana News
Following is a tentative list of
dates and locations for the 1984
M ontana Bankers A sso cia tio n
group meetings.
May 5—Group 7A, Big Timber;
May 10—Group 1, Harlem;
May 1 1 —Groups 5A, 5B and 6, Co­
lonial Inn, Helena;
May 12—Group 2, Elks Lodge, Sid­
May 19—Groups 3A and 3B, Elks
Club, Poison, and
June 2—Group 4, Cottonwood Inn,

Wisconsin News
RACINE: Gordon O. Chapman has
been named president of Farmers &
Merchants Bank and to the board of
directors. He succeeds Richard H.
Smith, who died last December. Mr.
Chapman previously was executive
vice president of Citizens Bank of
RICE LAKE: Dairy State Bank of
Rice Lake recently announced the
promotions of Diane Aeschlimann
and Coleen Hillskotter to vice presi­
dent status and Bernadette Fitz­
gerald to assistant vice president.

MINOT: First Bank Minot has
elected James R. Winter as senior SH AW AN A: Phillip D. Nelson has
vice president - second officer and joined the Citizens State Bank here
promoted Edward Everts to vice as first vice president, with commer­
president, operations officer and cial lending and administrative re­
cashier. Mr. Winter has held his sponsibility for the loan depart­
most recent position as vice presi­ ment. Mr. Nelson formerly was a se­
dent - second officer at First Bank nior vice president at Rock County
Valley City since 1979. Mr. Everts National Bank o f Janesville.
has been at the Minot bank since
STOUGHTON: Lloyd Hensel has
been named president o f First Na­
tional Bank here. He replaces John
Wyoming News
Sphatt who retired as active presi­
H ANNA: Charles R. Besel has been dent. Mr. Hensel has served as the
appointed president of the First bank’s chief executive officer since
W yoming Bank in Hanna. Mr. Besel January 1 of this year. He joined the
most recently served as vice presi­ bank in 1966.

AND Getting
it done for you.


Bill Sprenger

Frampton Rowland

John Messina

nm Commerce Bank of Kansascity
Federal Reserve Bank of St. Louis


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Ag Banking Personnel
Let us help you. Call the ag lending personnel
specialists without cost or obligation. Confi­
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306 15th Street
Des Moines, Iowa 50309
Phone 515/244-8163

AG LOAN OFFICER—progressive bank group looking for
ag lender in $65 m illion bank in Boone, IA. Prefer 5-10
years banking experience. Salary commensurate w ith ex­
perience. Send resume to Jack Ayres, P.O. Box 486, Bellevue, NE 68005.__________________________________ (PA)
REAL ESTATE LOAN OFFICER — The Hills Bank and Trust
Company has an excellent opportunity for the right person
to head our real estate loan department. Minimum three or
four years experience required - to process FHA, VA loans
and to handle loans on secondary market. We are a $142
m illion bank with tw o locations serving the Iowa City area.
Interested candidates should send resume In confidence
to: Gordon Hinz, H ills Bank and Trust Company, 131 Main
Street, Hills, Iowa 52235.
EXPERIENCED TRUST OFFICER to head small but growing department in progressive $65 m illion Iowa bank. Law
degree a plus, but experience may substitute. Estate plan­
ning, employee benefits, and marketing knowledge re­
quired. Salary to $34,000 plus benefits. Send resume and
salary history to file WAP, c/o Northwestern Banker. (PA)
MORTGAGE LENDER—Central Iowa bank seeks a suc­
cessful motivated residential lender w ith 3-5 years experi­
ence in marketing and closing of residential loans. Com­
petitive salary and benefit package available. For confi­
dential consideration, please send resume and salary his­
tory to file WAQ, c/o Northwestern Banker.
LOAN REVIEW POSITION— Must be experienced in com­
mercial and ag loans. Light travel. Office in Twin Cities
metro area. Salary open. Excellent opportunities for ad­
vancement in growing organization. Send confidential
resume to file WAR, c/o Northwestern Banker.
INVESTMENT ANALYST— New position, opportunity in re­
gional banking group for brokerage - licensed and experi­
enced analyst, w ith 5 years experience as investment
analyst w ith emphasis in equity analysis. Send resume to
Mike Walts, Sr.V.P., A ffiliated Midwest Bancs, Inc., 100
American Plaza, Bellevue, N E 68005.
EXPERIENCED LOAN OFFICER—$30 m illion northeast
iowa bank needs an experienced ag loan officer for an ex­
ecutive position. Excellent opportunity for advancement.
Salary open. W rite file WAT, c/o Northwestern Banker. (PA)
SENIOR LENDING OFFICER—to manage $60 m illion loan
portfolio o f commercial, agriculture, real estate and in­
stallm ent loans. Would prefer college degree and bank
lending school background. Ten to fifteen years experi­
ence. Bank located in excellent recreation area; hunting
and fishing abundant. Send resume to file WAS, c/o North­
western Banker.

Operations Person for $16 m illion bank in northern Iowa.
Nice situation for long-term................................................... to $30,000
Sr. Ag Lender for $40 million bank in Central Iowa- Prefer col­
lege graduate with rather extensive bank record.. to $35,000
Sr. Ag Lender for member of multi-bank holding company in
Illinois. Must have proven record and degree......... to $38,000
Linda: 515/394-5827
Jean 515/263-9598 if
New Hampton, la. 50659 no answer, 712/779-3567
Massena, Iowa 50853

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Number Two person for northern Iowa community bank.
Should be ag-oriented and know ag lending/operations.. . .
.................. ............................................. ............ to $35,000
Ag Lender for eastern South Dakota bank, located near ma­
jor population $30,000

Number Two person for community bank near Des Moines.
Must be experienced in lending/operations.......... to $33,000
Commercial Lender with general bank experience for $50
million bank in northwest Iowa................................... SalaryOpen.
Write or call in confidence to Malcolm Freeland, c/o
Freeland Financial Service, Inc., 1032 Carriers Bldg., Des
Moines, la. 50309. Phone (515) 282-6462. Employers pay fee.

Six weeks spread throughout each year in
your own luxurious townhome near
Keystone, in the heart of Ski Country.

Two bedroom, two and a half bath,
fireplace, garage, hot tub in enclosed
atrium area. Fully furnished, including
washer and dryer.
Purchase price $33,900.
Dwayne S. Smith
Box S
Dillon, Colorado 80435
Phone today, 1-800/922-2590

We are looking for someone with 3-5 years of com­
mercial lending experience to work in our corre­
spondent bank area. Additional requirements are
correspondent banking experience (or extensive
AG lending experience) and a college degree with
at least 1 year of accounting. For more inform a­
tion phone Mary Nerhaugen 612/341-6579.

6th & Marquette
Minneapolis, MN 55480
Affirmative Action Employer


Estate Appraisals

Purchase of

ASSISTANT VICE PRESIDENT, AG LOANS—college degree plus “ hands on” farm operations experience. Credit
experience necessary, but banking experience not essen­
tial. Excellent career opportunity. Contact James C.
Sodey, EVP, Hawkeye Bank and Trust, Spencer, IA. Phone

Sale of Rare Coins
Reliable and respected service
for over 20 years
Used by bankers
throughout the midwest

WILL GRADUATE May, 1984, from University of Wyom­
ing w ith B.S. in Farm and Ranch Management. Through
management-oriented studies I offer special skills in
Futures Market, and working knowledge of computer lan­
guages: Basic, Fortran, Cobol. Reared and worked on Iowa
farm. John R. Lighty, 1415 Gibbon St. #34, Laramie, Wyo.
82070,307/742-4664 until May 15. Permanent address: R.R.
2, Box 40, Delhi, la. 52223,319/926-2775.___________ (PW)

Jr. Ag Lender for member of multi-bank holding company in
Illinois. Prefer minimum two years bank experience........... $28,000

Data Processing Manager for $90 million bank in Illin o is----................................... $35,000

LOAN OFFICER—$60 m illion bank in SE Iowa has posi­
tion available with 3 to 5 years bank experience In lending,
w ith emphasis on agriculture. Please send resume and
salary history to file WAU, c/o Northwestern Banker. (PA)


Commercial Lender with 2 years experience - for Lakes Area
bank. Training and background im portant............. to $25,000
Commercial Lender for $50 m illion bank in college to w n . . . . $40,000

EXPERIENCED TRUST OFFICER to form and head a trust
department in a $200 m illion financial institution. Position
requires law degree w ith approximately 5 years experi­
ence in all phases of trust services. Applicants should be
aggressive and personable in order to be considered. Ex­
cellent benefits and salary commensurate w ith experi­
ence. Send resume, salary history and requirements to file
WAH, c/o Northwestern Banker. Alt inquiries confidential.

Commercial Lender for $95 m illion eastern Iowa Bank,
Knowledge of ag loans a p lu s ...................................$35,000

Ben E . Marlenee
913 Locust
Des M oines, Iowa 50309

COMMERCIAL/AGRI LOAN - $50MM com m unity bank
seeks experienced commercial lender w ith some ag
background to manage loan portfolio.
CASHIER - $30MM rural bank close to large city. Supervise
operations and handle all regulatory reporting.
PRESIDENT - for medium size a ffilia te in major Missouri
holding company. Must have strong agri loan experience
and proven adm inistrative skills.
$ Open
OPERATIONS OFFICER • $20MM com m unity bank close
to resort area. Knowledge of regulatory reports and per­
sonal function a plus.
INSTL/COMMERCIAL LOAN - lending experience in small
com m unity bank environment desired. Good opportunity
for advancement.
All inquiries confidential. A resume and salary history re­

P.O. Box 12346 - 2024 Swift
North Kansas City, MO 64116
“ Serving the Banking Industry Since 1970”

Vol. 12 No. 51 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fif­
teenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des
Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address.
Federal Reserve Bank of St. Louis