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Vol. 9 No. 16 Des Moines, Iowa Gas Rationing Would Swamp Banks GRAPHIC picture of the cha otic burden Congress has arbi trarily decided to force on the na tion’s banks with gasoline ration ing has been de scribed by J . C. W e lm a n J r . , chairman of the ABA Gas R a tio n in g T a s k Force. Mr. Wel man is executive ^ WELMAN JR. vice president of the First National Bank of Minneapolis. Mr. Welman has portrayed long lines in banks, if such a plan evolves, requiring 150,000 new tellers, as many as 170 million new “ration” accounts, legal chaos because such accounts have no legal status, and the banks paying for the whole operation. “ Congress has voiced its support for the President’s standby gasoline rationing plan, and America’s bank ers will do what we can to make this plan workable,” said Mr. Welman, following the July 30th rejection by Congress of a resolution to dis approve the standby gasoline ra tioning plan. “ But our concerns that this plan is totally unworkable from the con sumers’, as well as bankers’ best interest, remain valid. I am dis A appointed that after we have worked for seven years with the federal energy officials, we weren’t able to agree on a more realistic plan. “We will continue to work with officials at the Department of Energy to try to lessen the impact of what we see as major flaws in this plan,” Mr. Welman said. “Over the years the A B A ’s Task Force has supplied reams of inform ation to the Department of Energy on the capability of the banking industry to operate various parts of the gas rationing plan. There re mains a vagueness in this plan on many operational points that in volve this nation’s banks,” Mr. Welman stated. “There remains an opportunity for the Department of Energy to lessen these deficiencies during the pre-implementation period, and the ABA Task Force will continue to make every effort to work with the Department of Energy to produce a workable, cost-efficient rationing plan,” he added. Mr. Welman again outlined the objections to the standby plan which the A BA has presented in testimony and in letters to every senator and representative. First, he said, because the plan would rely almost entirely on com mercial banks to distribute gas ration coupons, there would be lines August 11, t980 at banks as well as at service stations in a gas crisis. Mr. Wel man predicted that banks would have to hire 150,000 tellers, at their own expense, to distribute the coupons, and that there would be in sufficient space in bank lobbies for the additional tellers and customers. Secondly, he said, the plan allows individuals or firms to establish a “ration rights checking account” into which they could deposit gas ration coupons and on which they could draw “ration rights checks” denominated in gallons of gasoline. Because such a proposal could add as many as 170 million accounts to the 100 million total checking accounts today, the burdens of new accounts would swamp the nation’s payment processing system, Mr. Welman said. “ Our third concern is that such gasoline ‘checking’ accounts have no legal status whatsoever, such as under the Uniform Commercial Code,” he said, “ and would inyite legal chaos.” M r. W elm an concluded by stating, “ I want to emphasize that over the years, the American Bank ers Association has continually supported past versions of gas rationing plans. This is the first we have opposed. We have outlined what we consider to be serious de ficiencies, but Congress has now spoken on this issue and the ABA will continue to work with the Ad- ASK JOHN MANGOLD to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank isi Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS QF IOWA' BANK 2 ministration and the Department of Energy to make this a plan that will meet the needs of the American public should a serious oil shortfall occur.” □ Would Redefine Capital Comptroller John G. Heimann has proposed a revised definition of capital for national banks and the proposal is open for comments to September 20. He proposes to elimi nate subordinated notes and deben tures upon maturity or by December 31, 1985. He would also eliminate the in clusion in capital of reserve for loan losses, ending this part December 31, 1981. He stated the effort is to make capital more clearly reflect actual equity capital. Reserves for loan losses would still be vital to the bank, he said. Monetary Control Act Startup Date Delayed The Federal Reserve Board has delayed by 60 days the starting date for implementing the new reserve requirements which call for non member institutions to carry stipu lated reserves at the Fed. An alter native is to carry the reserves with a member city correspondent bank, which would then be required to handle them immediately on a strict “ pass-through” basis. If the city correspondent agrees to handle the “ pass-through” arrangement, the C aH a BANKERS’ BANKER 1-800-362-1688, toll-free in Iow a Ben Eilders Correspondent Banking Department B ankers! neaH us t j Des Moines, Iowa 50304 Member FDIC, Federal Reserve System https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Fed also has stated it will hold the correspondent bank responsible for meeting the customer bank’s re quired reserves. The Fed’s tentative timetable in cludes the following: • Week of Sept. 1 — Publication for comment of pricing principles and preliminary schedule of prices. • Week of Sept. 8 —Reporting forms, manuals and other materials sent by Fed to all depository insti tutions. • Oct. 30—Reporting procedures begin. • Oct. 31 —Deadline for com ments on pricing proposals. • Nov. 12 —Posting of reserves by large non-member institutions begins. • Jan . 5 —Publication of final regulations on pricing. • Jan . 19—Phased implement ation of pricing begins with wire transfer and settlement services. Kansas City Fed OKs Farrar H. C. Request The Kansas City Federal Reserve Bank has approved the application of Frank Farrar and associates to form M .S.B . Holding Co. for the purpose of acquiring 85% of the stock of Mission State Bank & Trust Co. of Mission, Kan. Mr. Farrar said the acquisition will proceed, based on an audit and regulatory approval of the final action. ABA Banking Leadership Conference Is Sept. 3-4 The next ABA Banking Leader ship Conference is scheduled for September 3-4. Principal topic will be the White House study report on the McFadden Act and the Douglas Amendment to the Bank Holding Company A ct. The first is the law presently restricting banks from branching across state lines; the second relates to restrictions on bank holding companies from cross ing state lines. The study was mandated by the International Banking A ct of 1978. It was originally set for release last September but has been delayed until this September. The report will contain only suggestions, not laws, nor even the text of proposed legis lation. Congressman Fernand St. Ger main (D -R.I.), chairman of the financial institutions supervision, regulation and insurance subcom mittee, has already announced he READY NOW I0WA-NEBRASKA BANK DIRECTORY ‘Published by Northw estern B an k er OE S M O IN E S COMPLETE INFORMATION O N A L L B A N K S IN IOWA and NEBRASKA ACCURATE' DEPENDABLEPOCKET SIZE- The co m p le te ly re-edited 1980 editions of the Iowa Bank Directory and the Nebraska Bank Directory are available now. Up-to-date Usings of officers, statement figures, and other vital facts about all Iowa and Nebraska banks. Now only $10 for the Iowa edition and $6 for the Nebraska edition. Write the North western Banker today for your copies. The address is 306 Fifteenth Street, Des Moines, Iowa 50309. will conduct “oversight” hearings on interstate banking in mid-Sep tember. Iowa News C H ERO K EE: Central Trust In vestment, Inc. here has filed for per mission from the Federal Reserve Bank of Chicago to become a bank holding company by acquiring the Central Trust & Savings Bank. DES MOINES: Donald H. Jordahl, vice president of Bankers Trust Company, has transferred from head of retail banking to work in the correspondent bank division. Mr. Jordahl is well-known among Iowa bankers in his work at Bankers Trust and in his previous associ ation with Brenton National Bank of South Des Moines. Funeral serv ices were held last week for Robert A. Schiers, vice president in the commercial loan division at Bankers Trust. GARNER: Gary L. Thoms has been promoted from assistant cashier to assistant vice president at the Han cock County National Bank. Joel F. Punke, vice president and cashier, has been elected to the board of directors. MALVERN: Funeral services were held recently for Eugene W. Burdic, 70, chairman of the Malvern Trust & Savings Bank. Mr. Burdic pur- *1 Carleton D. Beh Co. Supplement to Northwestern Banker Newsletter 8-11-80 Investment Bankers/Financial Consultants « % NEW ISSUE SALE DATE: August 7,1980 $4,000,000 STATE OF IOWA f MOODY’S: A 1 S & P: AAA Liquor Sales Revenue Bonds, Series 1980 ■1 Dated: July 1,1980 Denomination: $5,000 Both principal and semiannual interest (January 1 and July 1, first coupon due on January 1,1981) payable at the office of the Treasurer of the State of Iowa, Des Moines, Iowa. * IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOMETAXES, ALL PROPERTY TAXATION I NTH ESTATE OF IOWA AND ALL IOWA INCOME TAXES. MATURITIES $300,000 m 350.000 400.000 400,000 H * 9 400,000 400,000 6.70% July 1,1981 6.75% July 1,1982 July 1,1983 5.75% July 1,1984 5.70% July 1,1985 5.90% July 1,1986 5.00 $400,000 5.15 5.30 400,000 450,000 5.50 500,000 6.00% July 1,1987 6.20% July 1,1988 6.40% July 1,1989 6.60% July 1,1990 6.05 6.20 6.40 6.60 5.70 5.90 LEGALITYTO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS, DES MOINES, IOWA 4 M * *4 * f The Iowa Beer& Liquor Control Department is the exclusive source of alcoholic liquor (which includes wine) in the State of Iowa. Wine and liquor is sold at retail in some 214 stores throughout the State operated by the Department. Taverns and other “ by the drink” licensees must purchase theiralcoholic beverage supplies from the Department. The Department licenses beer wholesalers and retailers to operate in the State and is not itself directly involved in the wholesaling or retailing of beer. Over 8,000 retail establishments are operating under licenses and permits for the sale of liquor by the drink and/or beer. Iowa is one of the 18 “ Control States” which are wholesalers of intoxicants. The Department reports that per capita liquor consumption is less in the Control States than in the “ open" states. During the 1979 calendar year, the most current year for which comparative figures are available, liquor consumption (excluding wine and beer) in the Control States amounted to 1.70 gallons per capita compared to 2.19 gallons in the open states. Consumption in Iowa was 1.37 gallons. Control States, however, produce a greater amount of revenue from alcohol than do open states. Per capita revenue in Control States in 1977 was $23.86 compared to $20.35 in open states. Iowa ranked 29th in revenue per capita with $20.62. The Iowa Beer & Liquor Control Department is a State agency but has wide discretion in its day to day operations. As a result, it is able to operate on a “ business-like” basis. The purchasing of over $70,000,000 of liquor and wines annually, as well as the mark-up to retail price, fall within the discretion of the Liquor Control Council and the Iowa Beer & Liquor Control Department. These bonds are being issued pursuant to Chapter 123 of the Code of Iowa, as amended by the 68th General Assembly, 1980, for the purpose of paying the costs of acquiring, constructing and equipping a facility for use as a warehouse and offices for the Iowa Beer and Liquor Control Department. In the opinion of counsel, these bonds will be obligations of the State of Iowa payable solely and only out of the future net earnings of the liquor (which includes wine) sales activities of the State. 0 Gross income Total operating expense Net operating income * STATEMENT OF INCOME AND EXPENSE (Year Ending June 30) 1979 1978 $49,148,219 $46,202,558 14,172,111 12,483,198 $34,976,108 $33,719,360 Available for debt service ► Coverage of maximum debt service 1977 $38,374,699 11,284,141 $27,090,558 $35,479,319 $33,843,093 $27,271,936 54.48x 51.97x 4 1 .88x Weown and offer subject to prior sale and change in price and subject to our attorneys approving opinion: 4 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 based. Bonds of a particular maturity may or may not s till be available or may now be availabeat a price oryield different from that indicated above. Moines Building • Des Moines, Iowa 50309 • 515-288-2152 Digitized forDes FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 607 Marquette Ave. • Minneapolis, Minnesota 55402 • 612-332-8825 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The fMm Fam ily of Distributed Processing System s ■i The XL Family product line from Pertec® is the direct follow-on to both the highly regarded KeyProcessing® series of data entry systems and the sophisticated terminal and shared processor systems Pertec® has produced for several years. Customer accep tance of these systems has been outstanding. More than 1,500 systems with over 7 ,5 0 0 operator display termi nals have been installed in 52 nations around the world. Available at competitive end-user prices, economical XL Family products offer advanced, state-ofthe-art software and a wide selection of high-speed peripherals for maximum processing efficiency. 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Equally important, XL Family products are true distributed processing terminal sys tems, with built-in features designed for multiple trans action operations—highly efficient multitask operating systems, real-time and batch mode processing capabili ties, and timely information provided in any combination of visual displays, printed documents and reports. Operating system enhancements have opened up numerous stand-alone business applications. Simplified checkbox coding has dramati cally reduced programming time. As a result, superb file structures can be used in such application areas as pay roll, order entry, inventory, accounts receivable and general ledger, to name just a few. mm With their advanced communications and printing capabilities, XL Family Systems compete favorably in the large and fast-growing remote batch and intelligent terminal market. OMEGA 8 5 1 5 D o u g l a s S u i t e 17 PLACE Des M oines. 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Supplement to Northwestern B anker New sletter 8-11-80 fMIMFamily SPECIFICATIONS HARDWARE DISK DRIVES (XL40) MCU •8.8 or 17.6Mb capacity (formatted*) •Up to four drives per system (8.8 or 17.6Mb each) •Dynamic allocations • 200 TPI/2200 BPI • Winchester-type technology Large Capacity Disk — 1981 •Universal bus •Communications Processor •Printer Controller •Card-Reader Controller •Diskette Processor •Disk Processor (XL40) •Tape Processor (XL40) DISKETTE DRIVES XL20 • 1.6Mb (unformatted), 1.2Mb (formatted) capacity — XL Extended format •256K (unformatted), 2 4 0 .5K (formatted) capacity — IBM Basic Data Exchange (BDE) format •Dual density, dual sided •Up to four drives per system E xecu tiv e Processor •Bipolar Schottky Microprocessor • 16-Bit words •ROM-driven instruction set •200-Nanosecond cycle time System M em ory XL40 •Direct Memory Access (DMA) •8 0 to 128K bytes — XL20 • 128 to 5 1 2K bytes — XL40 •256K (unformatted), 2 4 0 .5K (formatted) IBM BDE format •Convenient IBM interchange compatibility •Single density, single sided •One or two drives per system VIDEO DISPLAY TERMINALS • 1 to 16 — XL40; 1 to 4 — XL20 •Two models (480- and 2000-character screens) •Three keyboard styles (data entry, adding machine or typewriter) •Ten-key numeric pad included in typewriter keyboard •Separate, movable keyboard and display •5x7 Green dot matrix (480-character model) •7x9 Green dot matrix (2000-character model) •Mixed 480- or 2000-character models on same system TAPE DRIVES (XL40) OTHER OPTIONS •Printers from 120 cps to 9 0 0 1pm •Station printers — 1 to 16 per system (XL40) •Multiple remote devices — terminals, station printers (XL40) ‘ Unformatted capacities are 10 and 20Mb, respectively; the operating system uses a small number of bytes per disk to maintain sector integrity. •One to four drives per system, any mix •7- or 10V2-inch reels •7/556-800 bpi; 9/800 bpi or 9/1600 bpi •Synchronous read-after-write • 18.75 ips (7 inch), 3 7 .5 0 ips (IOV2 inch) synchronous read/write speed SOFTWARE PLUS XL/OS •Multitasking dynamic operating system •Priority-based background/foreground processing •Dynamic memory allocation to user programs and system tasks •COBOL editing, report writing, sequential processing and index file management •Simplified SYSGEN •Programmed on-line instruction courses (in addition to scheduled training classes) •2 7 7 0 , 2780, 3 7 4 1 , 3 7 8 0 , 360/20 HASP communications •3 7 7 0 SNA/SDLC •3 2 7 0 Host Interactivity PERTEC AS YOUR AUTHORIZED PERTEC DISTRIBUTOR, WE CAN PROVIDE ADDITIONAL INFORMATION https://fraser.stlouisfed.org Copyright © 198 0 Pertec Computer Corporation Federal Reserve Bank of St. Louis Printed in U.S.A. •Serviceability •Hardware/software diagnostics •95 Percent MCU access via cabinet door •Universal bus architecture •Competitive MTBF I would like more information on X L Family Systems. Bank Officer 1 Address C i t y ---- Zip State COMPUTER SYSTEMS Omega Place 8515 Douglas, Suite 17 Des Moines, Iowa 50322 Phone:(515)270-2480 sioner of banks and trust companies to The Tokai Bank, L td ., Nagoya, Japan, to establish and maintain a banking office in Chicago’s central business district at 55 W . Monroe St. A Single System with ■< é % NOW ACCOUNTS Now! Bank Data Processing Professionals National Bank o f Waterloo Waterloo, Iowa 50704 Member FDIC Phone Max Cory at 1-800-772-2411. ■i chased the Malvern bank in 1946 and served as its president until 1975 when he became chairman. Among his survivors are his wife, Dixie, two daughters and a son, Allan C., who is currently president of the bank. MARION: The First National Bank of Marion has received consent from the regional administrator of na tional banks to open a facility at Southgate and 33rd Avenue in Cedar Rapids. Nebraska News B E L L E V U E : The Bank of Bellevue has received consent from the state department of banking and finance to establish a detached auxiliary teller office at 201 W. Mission St. here. B LU E H IL L : The Commercial Bank observed its 75th anniversary on August 8 and celebrated the occasion in conjunction with the Blue Hill Festivities in July. The bank sponsored a free barbeque for the community, serving about 2,000 people. DAVID CITY: The First National Bank here has filed for permission from the regional administrator of national banks to locate a CBCT unit at Broadway and State Streets in Bellwood. OMAHA: The Federal Reserve Board has announced the issuance of a determination with respect to the divestiture of the Cass Mining Company here by United Rock Con struction, In c., a bank holding com pany which owns the Security Na tional Bank of Superior. OMAHA: The U .S. National Bank has received consent from the regional administrator of national banks to locate CBCT units at 11414 Davenport, 12039 Blondo, 4110 Grover, 4001 Harrison, 7110 Dodge S t., 350 N. Saddle Creek Road, and 6907 S. 84th S t., LaVista. P R A IR IE HOME: The Farmers Bank here has received consent from the FDIC to establish a remote service facility in the Waverly Shopping Plaza, Waverly. Minnesota News BOVEY: The First National Bank of Bovey celebrated its 75th anni versary with a week-long observ ance July 7-12. Featured were re freshments, souvenirs, lobby dis play and the “ Goodbank” blimp. COKATO: Knoff Bancshares, Inc. here has received consent from the Federal Reserve Board to become a bank holding company by acquiring the First National Bank and to acquire First National Agency of Cokato, Inc., a general insurance agency in a town with less than 5,000 population. W E L L S : Funeral services were held recently for George H. Wanzek, 60, president of the Peoples State Bank of Wells. He died at his home follow ing a heart attack. Mr. Wanzek joined the Wells bank in 1944 and had served as president since Ja n uary, 1979. Illinois News CHICAGO: A certificate of author ity has been issued by the commis RO SEM O N T: N orthw est Com merce Bank has received consent from the FDIC to change the locat ion of its main office from 9797 to 9575 W. Higgins Road here and establish a facility in the former location. W EST FRANKFO RT: The Bank of W est Frankfort has received per mission from the FDIC to exercise limited trust powers. North Dakota News Four North Dakota banks have increased their amount of capital. They include: State Bank of Burleigh County Trust Company, B ism arck , from $ 4 4 0 ,0 0 0 to $1,760,000 by stock dividend; Dakota Bank and Trust Co. of Fargo, from $1.05 million to $2.1 million by increase of par value from $100 to $200 through transfer from undivided profits; Bank of Hazelton from $50,000 to $150,000 by stock dividend, and Peoples State Bank, W esthope, from $ 2 5 0 ,0 0 0 to $750,000 by stock dividend. BISM ARCK: The North Dakota State Industrial Commission has voted to increase the Bank of North Dakota’s capital account by $4 million for a total of $16 million. This increases the bank’s legal lend ing limit by $1 million to $7 million on any one loan. Bank officials re port the bank currently has no single' loan in excess of $5 million. Wyoming News LYM AN: Bill Cushing has joined the First State Bank of Lyman as the new operations officer. He has been in banking for 11 years and was formerly with the First Security Bank in Rupert, Idaho. SHOSHONI: The First State Bank at Shoshoni celebrated its first year in business last month. Deposits have reached nearly $4.1 million since the bank opened in July, 1979. CALL ON THE “PERFORM ANCE TEAM ” where com m on transactions are handled uncommonly well. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 » Member, F.D.I.C. 3 SERVING PROFESSIONALLY Banking,Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283*2545 Des Moines, Iowa 50309 Colorado News DEN VER: The applications of Central Colorado Company and its general partner, C .C .B ., Inc. to be come bank holding companies by acquiring Central Bancorporation, Inc. has been approved by the Fed eral Reserve Board. All firms are located in Denver. The move is a result of the divestiture of Central Bancorporation by Baldwin-United Corp. and its subsidiary, D.H. Baldwin Company, both of Cincin nati, Ohio. POSITION AVAILABLE Trust Officer needed for $16 million central Illinois bank. Second Man Position in Iowa community bank. Salary $25,000 to start. Must have ag lending experience and general operations knowledge. Auditor, with CPA or bank auditor degree, wanted by $45 million Iowa Bank. Executive needed to run small bank in northwest Iowa. W rite or call Malcolm Freeland, Freeland Financial Service, Inc., 306 Fifteenth Street, Des Moines, Iowa 50309. Phone (515) 244-8163. Employer pays fee. (PA) RETAIL BANKER—Outstanding growth opportunity for right person. We are a large suburban bank in the midwest, with plans to restructure our instalment lending activities Into a broader personal banking approach. The Individual we are seeking w ill be divi sion chief and a member of the executive committee. Must have excellent credentials. Replies w ill be held in strict confidence. An Equal Opportunity Employer. Write file KBQ, c /o Northwestern Banker.______ (PA) Bank in Iowa Great Lakes region seeking cashier. Re sponsible for all reports, daily operations and some lending. All inquiries kept confidential. Send resume and salary requirements to file KBV, cl o Northwestern Banker.____________________________________(PA) Experienced Trust Officer for metropolitan Des Moines bank. W ill be primarily responsible for estate settlement and personal trust administration. Com pensation commensurate with qualifications. Send resume in confidence to file KBX, c /o Northwestern Banker.___________________________________ (PA) Immediate opening for a second position officer in a $13 million south-central Minnesota rural bank. Must have strong ag lending background with good know ledge of all bank lending and operations. Send resume and salary requirements by September 15 to M.W. Smith at Peoples State Bank, Wells, MN 56097. (PA) VP/CASHIER for newly-chartered bank scheduled for November opening in Laramie, WY. Successful candi date must be all-around experienced banker with strength and knowledge in loans and operations. Sub mit resume in confidence to Wayne Van Horne, P.O. Box687, Laramie, W Y82070._________>________ (PA) Immediate opening for a CEO in a $10 million south western Minnesota rural bank. Primarily ag lending. Ag lending and operations experience essential. In surance licenses an added extra but not essential as agency is competently managed now. Send resume and salary requirements to file KBW, c /o Northwestern Banker. A ll replies strictly confidential._____ (PA) Used night depository financially embarrassed Schleswig, Iowa Library.___________________ (WTB) FOR SALE Write of call Malcolm Freeland, Freeland Financial Service, Inc., 306 Fifteenth Street, Des Moines, Iowa 50309. Phone (515) 244-8163. Employer pays fee. (PW) Apeco copy paper 81/2” x460’. $10 per roll. Call (402) 786-2555._________________________________ (FS) Four-window teller counter. Available about Novem ber 1, 1980. Altoona State Bank, Altoona, IA 50009. Phone (515) 967-4292._______________________ (FS) 1974 LeFebure6600 Spartan drive-up window. Excellent condition. Phone(712) 472-2581.___________ (FS) 12’x40’ mobile home converted for use as temporary banking facility. Night drop and drive-up window in stalled; good teller counter. Furnace with central air; available immediately. ALSO, 6’x9’ remote drive-up building with heat and air conditioning. Cali (319) 291 -5429 or (319) 291 -5468.___________________ (FS) FOR SALE Burroughs TR-102 electronic teller machines. Upgrad able to on-line; 2-3 years old. Guaranteed. $995 each. AG BANKING CAREERS NCR 152-70 teller machines. Completely recondition ed; 15 days free trial. Guaranteed. $695 each. AG LENDING REP... Io w a ..........................$17-18,000 NCR 490 desktop check encoders. Full-field. Guar anteed. $795 each. POSITION WANTED Instalment Loan Officers with varying degrees of experience and locations. Salary requirements from $18,000 to $25,000. Trust Officer in $100 m illion bank wants new position where he can use 20 solid years of management exper ience. Operations Officers with excellent experience w ill re locate in upper midwest. Ag Lending Officers availabe from $18,000 to $25,000. CREDIT M A N A G E R ...O hio........................$23-25,000 AG LENDING OFFICER ... SE Minn.............$16-18,000 LOAN OFFICER... Io w a ..............................$15-20,000 CREDIT SUPERVISOR... Ohio ..................$17-21,000 AG LOAN REP... Iowa ............................... $20-25,000 Since 1968, banks and other ag-related employers have been paying us to find the personnel they need. For more information, give Linda (our banking spec ialist) a call today. B O H CAREERS, IN C m J AGRICULTURAL PERSONNEL RECRUITERS (515)394-3145_____________ New Hampton, IA 50659 NCR 775 proof machine; 12 pockets. Maintenance w ill transfer. $10,900. ______________ Call (214) 757-7760___________ (FS) Burroughs Series S205 proof encoder with nine packets. Presently under maintenance contract. $2500. Call Alan Hann, First State Bank, Buffalo, S.D., (605) 375-3222._____________________________ (FS) Saxon Bond Copier. $800. Cal I (515) 245-7222. (FS) ¿Jrotdzx and Bank Consultants Specializing in Bank Acquisitions P.O. Box 450 515-232-0814 405 Main Ames, Iowa 50010 D o n a l d E. H o ld e r , Principal PARTIAL LIST OF AVAILABLE POSITIONS LENDING— Rural Iowa bank. Handle installment loans and collections. Also some ag lending. Must be able to work on own. $15,000. VP— Be responsible for entire loan portfolio of small ag bank. Must know lending regulations. Lending is the key to this spot; other bank experience a plus. $16,000. OPERATIONS—South Dakota bank needs operations officer. Supervise bookkeepers and tellers. W ill handle all reports. $17,000. OPERATIONS—Assistant to operations officer in large Iowa bank. Must have operations experience, be aggressive and prospect-oriented. W ill supervise 15. $23,000. EVP—#2 position in Minnesota bank. Lending is com mercial with some ag. Must have experience in all areas. Equity potential for right person. $28,000. TRUST OFFICER— Iowa bank Is establishing new de partment. Must be experienced in trust area and be able to set up a department. $26,000. AG LENDER— Real opportunity for person w ith 2 + years experience. W ill do all ag lending for eastern Iowa bank. Bank wants person that can make decisions and operate on own initiative. $22,000. FOR MORE INFORMATION RESPOND IN CONFIDENCE TO: Bank Division ROBERT HALF of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID Independent Management Services Specializing in Bank Acquisitions By Independent Investors No Broker Fees Call 515-223-1044 Homer Jensen — DickBuenneke 3737 Woodland Ave. Executive Suite 120 West Des Moines, Iowa50265 POSITIONS AVAILABLE CEO—Suburban Iowa bank. Positions requires previous administrative experience, de gree and solid commercial loan back ground................................................... $45,000 AGRI LOAN—Second position in ag depart ment of $85MM bank. Degree desired and three to four years lending experi ence..........................................................$20,000 OPERATIONS—$30MM suburban bank with progressive management team seeks results oriented operations officer for senior position........................................$25,000 CASHIER— Rural bank w ithin 10 miles of larger community. Position is second position with duties including ag and installment loans........................................................ $20,000 PRESIDENT— Retail oriented Rocky Mountain bank. Must have strong administrative skills and ability to handle “ work out” loans........................................................ $30,000 EXECUTIVE VICE PRES.—$50MM bank in ex cellent rural area. Degree and five to seven years of solid ag lending experi ence......................................................... $35,000 SECOND OFFICER— Excellent opportunity with small holding company affiliate in Rocky Mountain state. Prefer commer cial and in s ta llm e n t loan back ground..................................................... $20,000 OPERATIONS— Rural bank situated in north western Missouri. Position requires some knowledge of lending pract ices.......................................................... $20,000 Many otherfine opportunities available in midwestern states fo r experienced bankers. Salary history and resume requested. TOM HAGAN & ASSOCIATES OF KANSAS CITY 2024Swift / P.O. Box 12346 North Kansas City, Missouri 64116 _____________ Phone (816) 474-6874_____________ Voi. 9 No. 16 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street,/ Oes Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 per year. Second class postage paid at Des Moines, Iowa. Address e fl 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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