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ITS Special Assessment Nets $900,000 Sight drafts submitted to the 557 member banks of the Iowa Transfer System on August 1, have brought in a total of more than $900,000, according to Neil Milner, executive vice president of the Iowa Bankers Association, and Dale Dooley, executive director of ITS. Approxi mately 70% of ITS members honored the drafts by August 10, and it is anticipated that a number of the remaining 30% also will honor the drafts, w ith tota l payments eventually approaching the $1,000,000 mark. The special assessment by ITS is payable in two installments, on August 1 and next February 1. Mr. Milner said the assessment was decided upon recently by the ITS board to offset deficits that had been projected at the start of ITS for 1978 and 1979, as well as accum ulated operating deficits because revenue is not up to expectations. It is expected this will eliminate the need for financing and interest payments. Cost items as originally projected are well within the budgeted amounts, he said. There are 35 banks active on the ITS switch, with more than 100 remote terminals of various kinds operational. However, there will be eight more banks operational by September or October, with an added number of terminals. Additionally, it was reported that July transactions of more than 81,000 were up substantially over the 73,000 transactions reported for June, although it was noted that July had five weekends, as opposed to four in June. Weekends increase terminal usage, Mr. Milner stated. This ITS logo appears currently in statewide advertising The June total of transactions was reported earlier by Mr. Dooley to be 72,858 on 68 terminals, up 15% over March activity, so an uptrend in usage has been noted each month since the start on March 1. ITS marketing activities have been stepped up, w ith TV commercials appearing on stations statewide to promote electronic funds transfer. ITS members who do not pay the special assessment during the 30-45 day grace period, Mr. Milner said, will pay double their assessed amount later when they choose to become active in ITS. The special assessment is based on bank size as follows (by millions of assets): Under $ 1 0 ....................... $1,000 $10 to $30 .......... 2,500 $30 to $50 ......................... 4,000 $50 to $100 ....................... 5,500 Over $100 ........................ 7,000 A member bank of under $10 million assets, for example, which elects not to pay the special assessment at this time, would later have to pay $2,000 when it chooses to become active in ITS. Banks o f other sizes w ould similarly pay double their present assessment. All ITS members will pay their regular dues to ITS on March 1. That schedule calls for payment of dues for a five-year period, with those annual dues being one-tenth of figures listed above for the special assessment. A current non-member bank wishing to become an ITS member now will have to pay double the five-year dues, plus double the special assessment. For a bank of under $10 million assets, its new membership fee at this time will be $1,000 dues plus $2,000 special assessment. Non-member banks wishing to use the ITS facilities may do so under Iowa’s EFT sharing law, but those usage fees have not yet been set by ITS. ITS has held preliminary discus sions w ith savings and loan representatives and the Iowa Credit I T S .................................. [Turn to page 7, please] Homer and Jim are ready to Hein von ... with CCB’s full-ser vice correspondent banking. Let Homer Jensen and Jim Eick show you that we do your kind of banking. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 515/244-5111 CAPITAL CITY BOOK Des Moines' second largest independent bank. Call your roving correspondent at Bankers Trust Iowa News AM ES: Paul P. Gergen is resigning as senior vice president and trust officer at Bankers Trust Company, Des Moines, to become president and a director of University Bank and Trust Co. here. A graduate of Marquette University Law School, M r. G ergen w orked in tw o Milwaukee banks prior to joining Bankers Trust in September, 1974. C E D A R R A P ID S : R obert R. Leinart, formerly assistant vice president at Peoples Bank & Trust Company, has been named assist ant vice president at United State Bank. DES MOINES: Shareholders of Central National Bancshares, Inc., at their special meeting last week, gave a 78% vote of approval to merger of CNB with First Kansas Financial, Inc., of Wichita, Kan. The corporation will continue under the name of Central National Bancshares, Inc., and First Kansas Financial is injecting $35 million in cash assets. After payment of debts and strengthening of capital in Centred National Bank & Trust Company of Des Moines, and the holding company’s other three banks in Algona, Greenfield and Mason City, a net of $24 million in cash is expected to be available for expansion. Kenneth M. Myers, who headed First Kansas Financial, was elected president and chief executive officer of Central National Bancshares to succeed Merrill Anderson, who was named vice chairman. Simon W. Casady continues as chairman. Further details of the merger will be reported in the September Northwestern Banker. GILM AN: Kenneth E. Reimers has been promoted to cashier of the Citizens Savings Bank. He joined the bank in August p f 1976. INDIANOLA: Dick Stoffer has been appointed a loan consultant with People’s Trust and Savings Bank. Nebraska News CRETE: The City Naitonal Bank has received consent to convert to a state charter under the name of Citibank and Trust Company of Crete. LEXINGTON: William H. Riley, director of banking and finance, has issued an order of approval to the Farmers State Bank & Trust Company for a detached auxiliary teller office at 1220 North Adams Street here. RED CLOUD: Peoples Webster County Bank has announced the appointment of Neil Van Boening as assistant cashier. SYRACUSE: Bruce Krueger has been named auditor at The First National Bank. W EST POINT: All stock except qualifying shares in Farmers and Merchants National Bank has been sold. New purchasers are Ward Sauvage, oil and gas dealer from O berlin, K an .; Dean P hillips, A good correspondent bank relationship is still built by good people. Yours and ours. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Terry Martin Vice President Use our to ll-fre e WATS line: 800-362-1688 Member: F.D.I.C./Federal Reserve System banker, Lewiston, M o.; Roger Hegarty, president, and Benton O’Neal, senior vice president, both with First National Bank, St. Joseph, M o., and Mr. O’Neal’s brother, Sam O’Neal, vice presi dent of the Farmers & Merchants National, who continues in that capacity. W. T. Knievel, president, and J. R. Knievel, executive vice president, continue as minority stockholders with the new purchas ers and continue in their respective positions. No changes in officers or directors have been made. Illinois News The following Illinois banks have received consent to establish a facility: Bradley State and Savings Bank, at 459 South Kennedy; Peoples Bank of Cambridge, at 112 South West Street; The Oak Trust and Savings Bank, Chicago, at 224 West North Avenue; The Dunham Bank, St. Charles, at 1566 East M ain Street, and Cham paign County Bank and Trust Co., Urbana, at 11X1 West Oregon. Call me toll free . . . 800 332-5991 - M erchants A National Bank IS I Cedar Rapids. Iowa 52401 A BANKS OF IOWA' BANK Ca r l e t o x 1) . B e h C o INVESTMENT SECURITIES D E S M O IN E S B U IL D IN G D NEW ISSUE e s M o in e s ,I o w a S & P: $2 ,170,000 “A-” NORTHWEST WEBSTER COMMUNITY SCHOOL DISTRICT, IOWA General Obligation School Building Bonds Dated: August 1,1977 Denomination: $5,000 Both principal and semiannual interest (June 1 and December 1, first coupon due December 1,1977) payable at the office of the School District Treasurer, Barnum, Iowa. # IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES, IOWA FRANCHISE TAX AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. MATURITIES • 5 .25% $ 65,000 June 1,1979 70.000 June 1,1980 75.000 June 1,1981 75.000 June 1,1982 75,000 June 1,1983 80.000 June 1,1984 4.90% 85.000 June 1,1985 90,000 June 1,1986 105,000 June 1,1987 110,000 June 1,1988 • Ä • • 0 ® 3.60 3.75 3.90 4.00 4.10 4.20 4.30 4.40 4.50 4.60 4.90% $115,000 June 1,1989 125.000 June 1,1990 130.000 J une 1,1991 5.00% 140.000 June 1,1992 5.10% 150.000 June 1,1993 5.25% 155.000 June 1,1994 165.000 J une 1,1995 175.000 June 1,1996 185.000 J une 1,1997 4.70 4.80 4.90 5.00 5.10 5.20 5.30 5.35 5.40 LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS, DES MOINES, IOWA. The Northwest Webster Community School District is located in central Iowa, in Webster County, approximately 100 miles northwest of Des Moines, Iowa’s capital city. The District which is virtually 100% devoted to agriculture, encompasses an area of 121 square miles. The major trade center for the area is the city of Fort Dodge, the county seat of Webster County. The population of the District is estimated at 3,500. Movement westward from the adjacent Fort Dodge area has resulted in continuous growth for the District. Both the city of Barnum and the city of Clare have recently upgraded their water and sewer systems. The city of Clare has also added a new fire station. New low cost housing for the elderly has also been constructed in both Clare and Barnum. Approximately 99% of the land in the School District is held in farmland. Market prices for acreage are currently $2,500 - $3,000 per acre. Principal agricultural production includes corn, soybeans, oats, alfalfa, livestock and poultry. The major employers in the School District are: Northwest Webster Community School District, 54 employees, Farm Eggs, Inc., 30 employees, and Clare Elevator, 12 employees. Transportation facilities in the District include three major highways and the Illinois Central and Northwestern Railroads. These bonds are being issued under the provisions of Chapter 296, Code of Iowa, 1977, as amended, and were authorized at a special election held February 15, 1977. The proceeds of this issue will be used to construct and equip a new junior-senior high school building. In the opinion of counsel, these bonds are legal and binding general obligations of Northwest Webster Community School District, Iowa, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal and interest on the bonds without lim it as to rate or amount. FINANCIAL STATEMENT Actual and assessed valuation, 1976 $76,162,409 Direct debt, including this issue Total direct and overlapping debt ® Population, 1977 estimate: Area: 77,440 acres 3,500 2,290,000 2,320,550 Actual valuation per capita: Direct debt per capita: Total debt per capita: Direct debt per acre: Total debt per acre: Tax collections have approximated 104% of taxes levied for the past three years. We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion. The information contained in this circular is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds was based. Offered subject to prior sale and change in price. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $21,760 654.29 666.04 29.57 29.96 FARMERS GRAIN AND LIVESTOCK FGL Will Help You » The Marketing Advisory Service . . . 1 . Increase the volume of your loan portfolio. 2. Increase profitability and stability. 3. Develop credibility and leadership in the ag community. 4. Provide marketing expertise to your Clients. G IVE FGL A CALL . . . (515) 2 23 -2 2 00 1200 35th Street, W est Des Moines, Iowa 50265 CHICAGO: Hill Hammock, assis tant vice president in LaSalle National Bank, correspondent divi sion, has been advanced to vice president. John Woodworth, vice president, has joined the division, moving from the commercial loan department. Fran Lee from loan officer to vice president. He has been with the bank since 1970. INTERNATIONAL FALLS: In ternational State Bank has an nounced the election of David J. Knutson to assistant cashier. He formerly was an examiner in St. Paul. SH O RE W O O D : A perm it to organize has been issued to The Will County Bank of Shorewood, Shorewood Plaza Shopping Center. The state bank’s total capitaliza tion of $1,250,000 would consist of $500,000 in both capital and surplus and $250,000 in reserve. The 50,000 shares of stock would have a par value of $10 each. Organizers are: George J. Michas and Ludwig Bollero, Lockport; William A. Michas, Norman A. Keck, Sr., and Richard W . Riley, Joliet. MINNEAPOLIS: Banco Financial Corporation has moved to new quarters at 830 Northwestern Bank Building. The company is the secured lending subsidiary o f Northwest Bancorporation. MONTEVIDEO: Kenneth E. Raw has joined the Northwestern State Bank as an assistant vice presi dent. He formerly was a credit analyst for Northwest Bancorpora tion in Minneapolis. W A Y ZA TA : John L. Lundeen has joined the Wayzata Bank & Trust Co. as assistant cashier, opera tions. He has nine years of experience in banking. William C. O’Louglin, Jr., was elected assis tant cashier, data processing. Minnesota News AUSTIN: The First National Bank has announced the following staff promotions: Roger Hollerud, per sonal banker and consumer compli ance officer; Marilyn Starman, personal banking officer; Gayle Perkins, loan review and compli ance officer, and G w endolyn Volstad, sales finance officer. Senate Gets NOW Bill The Senate Banking, Housing and Urban Affairs Committee on August 3 approved by 10-5 the NOW account legislation (S. 1873) proposed by Sen. Thomas J. McIntyre (D., N .H .). The full Senate is expected to take up the bill in September after returning from its recess after Labor Day. S. 1873 also authorizes the B L O O M IN G T O N : P atricia A . Soholt and Shirley M. Neuville have been named personal banking officers of Northwestern Bank Southwest. CLOQUET: City National Bank has announced the promotion of Federal Reserve Board to set lower reserve requirements for smaller banks, a move supported by Fed Chairman Dr. Arthur Bums, who is concerned about erosion of Fed membership. The bill also author izes payment of interest on re serves, with a limitation of the total paid out to 5% of net earnings. The A B A ’s proposed NOW bill, S. 1668, was discussed but largely ignored. Minority committeemen tried unsuccessfully to have several A B A proposed amendments adopt ed. One would have wiped out the rate differential, but it was opposed by Sen. McIntyre, as well as committee chairman Sen. William Proxmire (D., Wis.). Rate ceilings under S. 1873 will be set by a committee made up of federal regulatory agencies, the ap proach favored by the Treasury, but opposed by the A B A , which proposed a rate equitable with that paid by thrifts. Although the committee approv ed the bill, it reportedly faces tough sledding in the full Senate, especi ally in the face of open opposition in its present form from both the banking and savings and loan industries. EXECUTIVE SEARCH Identify - Recruit - Evaluate Third Party Confidentiality Effective Communication 25 yrs. Professional Experience When your customer owns equipment but needs cash, perhaps a “ Leaseback" is the answer. Fees for you and loss-free, high yield loans if you want them. Investigate Organization & Salary Consulting National Exposure Various Programs Available XeaJepiah W Sales & Management Search, Inc. by 300 South Wacker Drive tfn b u /ie d SP&iwiceb, $ n c . 545-31st Street • 282-5008 Des Moines, Iowa 50312 “ DICK” SELLON https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Chicago, Illinois 60606 “ DUANE” DEVAULT 312/786-9060 Personnel Services & Consulting for America’s Bankers PUT NEIL HARL ON YOUR BANK’S TEAM I Howto pang on to your assets Farm business ore, L~ m v , 'jS ^ oL s fS . ^ s O b .M M I CUSTOMERS TODAY HAVE LOTS OF QUESTIONS that Neil Harl’s “How to Hang on to Your Assets” programs can help you and other bank officers answer. Text and taped narration are both by Dr. Harl, well-known Iowa State University lawyer-economist and noted authority on estate planning. His educational record ings are already in use in 44 states plus Canada. TYPICAL CUSTOMER QUESTIONS THESE PROGRAMS HELP ANSWER: 1. Since the Tax Reform Act of 1976, what are the common strategies used to reduce death taxes? (In one case, getting a farm fam ily to plan their estate reduced the federal estate tax from $80,000 to less than $7,000.) 2. What w ill be the long range impact of the new “ carryover basis” rule? Why w ill it likely mean substantially more income tax due when inventory, machinery, livestock and farmland is sold? 3. What’s the most efficient way to organize the farm business to save taxes and let a young person begin acquiring a share of ownership in the operation? 4. What steps must fam ilies take to set objectives and fo llo w through w ith plann Neil E. Harl Lawyer-economist Iowa State University ing to avoid costly death taxes and fam ily squabbles? 5. What are problems to watch out for if it’s desired for land held by a partnership, corporation, or trust to be eligible for the new “ current use” valuation? 6. Should assets being placed in a new corporation be valued at fair market value or their tax basis? 7. Can g ifts still get property out of an estate? 8. Under the new rules, what must be done to eliminate the “ widow ’s burden” of proving contribution toward purchase of jo in t tenancy property? 9. What are the g ift tax im plications to watch fo r in severing property titled in jo in t tenancy? HOW TO HANG ON TO YOUR ASSETS COMES IN TWO PARTS: 1. Estate Planning for All Ages... 12 messages running over 3 hours on 6 cassettes, with printed text, checklists, inventory forms, tax tables, worksheets, written examples and sample estate analysis. Here are the topics Harl discusses: 1. Introduction and need for 10. Income tax angles, settlement 6. What’s subject to Federal estate planning Estate Tax? costs and liquidity concerns. 2. Ways to own property. 11. How to use trusts in estate 7. How the Federal Estate Tax is 3. Death with no will. planning. calculated. 4. Making a will. 12. Final pointers on gifts to 8. Ways to minimize Federal 5. Settling an estate. minors, life insurance, and in Estate Tax. stallment land sales. 9. Federal gift tax. 2. Farm Business Organization.. .aimed at the specific concerns of organizing the farm or other small business, this is uniquely helpful to you and other members of the estate planning team. 12 messages run over 3 hours on 6 cassettes, with written text and examples, questions and checklists to use before in corporating, glossary, inventory forms, sample incorporation, federal tax dates and comparison of federal in come taxes for a farm taxed under 3 types of organization. Message topics are: 10. Relationship of employees to 1. Basic choices in business 5. What incorporation means. 6. Forming the corporation. the corporation. organization. 11. Financing considerations and 7. Income tax effects and the 2. Essential features of a part regular way of taxation. doing business across state nership. 8. The tax option or sub- chapter lines. 3. Partnership-taxation and use S corporation. 12. Estate planning features of in estate planning. 9. The corporation employee status, the corporation. 4. Uses of the corporation. \ Order form. Order now to insure prompt delivery—standardsize cassette tapes and all printed materials come in a neat, durable binder as shown above. ORDER YOURS TODAY! □ Send me How to Hang on to Your Assets, No. 1, Estate Planning for all A g e s .............................................price $89.95 D Send me How to Hang on to Your Assets, No. 2, Farm Business Organization...........................................price $89.95 □ Send both programs at special price ($30 off) $149.90 SHIP MY ORDER TO: Name______________ Address. City____ State. .Zip Code. ( ) Send details on ads and photos available to promote use of these programs among customers as a service to them. Make check payable to and mail order to: (Iowa residents add 3% Tax) https://fraser.stlouisfed.org (Over, please, Federal Reserve Bank of St. Louis VIBiil Branhey & Associates,Inc Box 397 W. Des Moines, la. 50265 515-225-2727 to see how you can use these programs & user’s comments) P R O G R A M S ARE C U R R E N T —-th e y incorporate changes you and customers need to review in revising estate plans due to the Tax Reform Act of 1976. And updates will be available in the future to keep your programs current. Buyers will be notified of updates by mail. This puts Harl on your team to help you stav up-to-date. HOW THESE PROGRAMS WILL BENEFIT YOU: You or customers can either listen to Harl’s narration or read the text to make most efficient use of your tim ? More reasons you need these programs: • To train new representatives or as a refresher for experienced bank officers. • Helpful sales aid to alert your customers to t l # real dangers of poor planning. • An excellent resource for conducting customer meetings. WHAT OTHERS SAY ABOUT • Save your time by letting prospective trusi customers hear or read in Harl’s materials how a tr u ? may be useful in their estate plan. HARL’S PROGRAMS: W E S T E R N OHIO national bank JW t r u s t com pany ^ COVINSTON.»HI* H*>n¡' S f t s •¿nix,, »TV N o 'lh»a, June 1977 February 10, 1977 Bill Brantley & Associates, Inc. p. 0. Box 397 West Des Moines, Iowa 50265 Bin 1131 Bill Bra:nH ey Bran 73rd Stre West Des Dear Mr. Brantley: Ss° c i a t e Noln l°w a Dear j We have Just received the Your Assets'*. I surely appre on A~es« as well as "Farm Business sition o t h ^ S d s ^ L / b e c ^ i n g increasingly important and Organization . B o t h fields ^ ^ from „ unbiased authority such wlth ional as”te!XHarl can help many farm families to see the urgent need to plan for their future. tapes 30265 wlth ^itte Veil We have a waiting list of people who are anxiousJo absorb ^bought provoking^s concrete action that is so often overdue. Last" t ese tapes a" estate °"e in i s ^ t i ^ a t e d to take Thank you so much for making these helps available; I can . +Vion> Thpv have greatly assisted us in helping our X r o v i ^ • S a ,:» « them wit/that personal service that they truly °"’ "hH cataI e s t a te p , a o f $ ? 5 0 ,M n * * a S ì * * higher; Very truly yours, that estate d ied l a ° d ana ° Cto<>er. * tena:n c y . P r io r Mia h l8 had have Harl. »tlons tJ* i r worth land J o in t deserve. e North" 1 ^Ing t We***8" that „ WESTERN OHIO NATIONAL BANK & TRUST COMPANY -s s a c ig is - Sä Carl W. Bowman Trust Officer * : them at Ca" check SchedmSubi» their °ut the s° that V J e c t ® o r e d> lo u rs » r \ 8 t r u ly Pi ’ deeply e next fi„tlon v i n ' rhe xDf 6 to te„ Prevent "for®a- ho - he t e s s e t t e " ° Ur Farm w y ' This J ? tapea e„ " ye* r s . «ana»«,- " H i a li r° r t»„ 8e®ent allOW th= w° ° r thi- Ass° c l a t i e® to d i j 5 ee days io n / rea p_ ^aidlt>y. /// l ,fe assorance =CENTRAI- Ol ^ __ V B r- No: ,roan Whit, X Jo April 5. 1977 ' I9 A s s o c ia t e s . i n c ' , Io wa Iowa r e v is e d J ey a « nexC& 'X m j - J W X. 5 ^7. " oniy 15 ' -’»a S Pm 60 265 m — Y o u r A s s e ts " p ro g ra m * , '-»A 5f ac- bÆ ;“ -in e S S i i s n ' t conveyed A c t, th e f a r ! * * 1 1n o r d e 1 d buS n e s s . t0 con' * s rass« » « » * » - - 4“M“X Sincerely. Edwards: C.L.UCleo https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis V ■1't. CALL ON THE “PERFORMANCE TEAM” where comm on transactions are handled uncomm only well. FIRST N A TIO N A L LINCO LN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. Wyoming News C A S P E R : W yom in g N ational Bank has announced the election of Charles W . (Chuck) Zitting as real estate loan officer. DAYTON: State Examiner Dwight Bonham has denied an application seeking establishm ent o f the Tongue River Bank here. POWELL: First National Bank has announced the promotions of Nada Ivy from assistant cashier to assistant vice president and Nancy Becking from assistant cashier to cashier. Montana News BILLINGS: An application by First Citizens Bank of Billings for Federal deposit insurance upon withdraw al from the Federal Reserve System has been approved. South Dakota News BROOKINGS: William Madson has join ed the N orthw estern National Bank as a commercial loan officer. He form erly was a mortgage loan officer with the Northwestern National Bank in Sioux Falls. MITCHELL: The First Mitchell National Bank has opened in its new building at 403 North Lawler. The mailing address remains the same: Box 987, Mitchell, S.D. 57301. With our service, give your com m unity a lot o f help for its Member FDIC An Affiliate of Northwest Bancorporation Banco« https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MOBRIDGE: Citizens Bank has increased its capital stock from $400,000 to $450,000. FDIC Announces Policy Changes Chairman George A . LeMaistre has announced two policy changes designed to enhance bank directors’ and trustees’ awareness of, and involvement in, the corporation’s supervisory efforts and to increase the effectiveness of such efforts. The policy changes include the holding o f m eetings betw een examiners and bank directors or trustees on a more frequent basis and allowing the duplication of examination reports by banks in order to promote more timely review of the reports by the members of a bank’s board. The revised policy on meeting with board members requires, as a minimum, the examiner-in-charge to meet with the board or a committee of the board at each full-scope examination. In those banks in which significant prob lems are apparent, the regional director or his representative will attend either the board or commit tee m eeting held during the examination or a meeting of the entire board convened at the request of the regional director subsequent to the examination. The state banking authority will be invited to participate in these supervisory board meetings. Sub sequent to all meetings with bank directors or trustees, the bank’s board will be furnished a written summary of the meeting, including the corrective commitments and/or reactions of those members in attendance. In a further effort to increase awareness and participation by members of bank boards, it was announced that while the FDIC examination report is confidential and remains the property of the corporation, the report would be made available to each member of the board for a thorough review. If duplication of the report by the bank is required to accomplish this goal, such duplication is not only permissible but is encouraged. I T S ................................................... [Continued from page 1] Union League, at the request of those organizations, to explore the possibility of s&ls and credit unions sharing ITS facilities with banks. Mr. Milner said this can be done technically, but ITS members will have to determine policy-wise if they wish to share their facilities with institutions protected by federal law with a higher rate differential than that permitted to banks. Iowa savings and loans and the Iowa Credit Union League also have petitioned officials of the Iowa automated Clearing House A sso ciation for permission to use IACH A facilities. The IACH A board met in Des Moines August 11 and at meeting time had 202 votes returned by its 619 members. Of that number, 173 favored the amendment permitting thrift in volvement in IACH A, 14 were against the m otion and 15 abstained, so it appeared the amendment was passed by a wide margin and thrifts now may use the ACH located at the Fed Regional Check Processing Center in Des Moines. Iowa thrifts wishing to join IACH A will pay the same dues of $11 per million of deposits as banks have been paying in the two years since IA CH A was formed. Serving you means keeping abreast of changing opportunities so you won't hove to. Coll and find out whot's new. Phone 319582-1841 collect Bernle Miller, one of our Men of Opportunity Am erican Trust 0 Savings Dank^ Town Clock Plaza, Dubuque, Iowa Member: FDIC & Federal Reserve System BOX 87 PH.I-7IZ-262I499 , S P E N C E R ,I O W A 5 I 3 0 I Together, we can help your Farm Custom ers. W UNITED MISSOURI BANK OF KANSAS CITY, N .A. Utili U nited w e grow . Tbgether. Member FDIC Norelco Microfilm Lamps NO.FCS No. PCS LOTS 6-47 OF: 48-95 96-UP $3.60 3.35 3.25 We prepay any shipm ent over $100.00 net. M inim um order, $25.00 net. W rite fo r special prices on other lamps. Your satisfa ction guar anteed. Please save fo r future reference. Sitler’s s u p p l ie s , i n c . P.O. B oxIO -Z 702 E. W ashington St. W ashington, Iowa 52353 Ph. 319-653-2123 ATTENTION: BANKERS, TRUST DEPARTMENTS, AND ATTORNEYS: NEED TO LIQUIDATE ESTATES OR LOAN DEFAULTS? We purchase sterling silver, gold jewelry, coin collections and bullion fo r cash. Call or write Mr. Neff, W .F.N. Enterprises— NB, 2260 Northlake Parkway, Suite 307, Tucker, GA 30084, ph. (404) 938-0744. POSITION WANTED Professional banker w ith 16 years experience in operations administration, systems, data process ing, general services, consumer banking, cash management, EFTS and general management seeks responsible position for growth and utilization of prior experience. Write Box HJG, c /o NORTHWEST ERN BANKER, 306 15th Street, Des Moines, IA 50309. ß a n k e fs Service LOAN ACTIVITY BULLETIN names of all debtors in the county recorded during the period What: name of secured party When: the date the loan was filed with the Secretary of State Where: location where loan made Telephone: 816-556-7000 POSITION WANTED OPPORTUNITY AVAILABLE Graduate of I.S.U. in ag education and farm opera tions seeking employment in ag finance. Contact: Rick Wahls, 515/292-6035. Recent graduate or person with short work experience for bank training program. Progressive, growing $40MM bank located in a very desirable central Illinois town. Farm background an d/or farm education very desirable. Bank operates with team approach— its officers have capacity and ability to work in all areas. Individual must look forward to challenge of overall in-depth banking career. Write Box PSL, c /o NORTHWESTERN BANKER, 306 15th Street, Des Moines, IA 50309. COMMERCIAL LOAN Aggressive bank in metropolitan Des Moines area offers an excellent opportunity in their commerical loan department for an individual with 3-5 years commercial lending experience who is interested in a challenging position with an open future. Salary commensurate with experience and abililty. Write Box GXA, c /o NORTHWESTERN BANKER, 306 15th Street, Des Moines, IA 50309. An Equal Opportunity Employer. LOAN OFFICER Central Iowa bank of $30MM offers an excellent opportunity for commercial loan officer with at least three years experience. We w ill offer an attractive salary and excellent future to the right Individual. Write Box LEC, c /o NORTHWESTERN BANKER, 306 15th Street, Des Moines, IA 50309. CASHIER Southwestern Minnesota bank of $40MM. Must be experienced in operations, personnel and invest ments. Please send resume to D.O. Aschbrenner, president, Western Bank & Trust, Marshall, MN 56258— Phone 501 /532-4421. One Mosler Model 1848 walk up window unit in good condition. Contact: Financial Products, Inc., P.O. Box 1035, Eau Claire, Wl 54701, Phone (715) 835-8160. POSITION AVAILABLE Bank o ffic e r w ith s tro n g com m ercia l loan background for northwest Iowa bank in excellent community. Excellent chance fo r advancement. Send resume to Box OXZ, c /o NORTHWESTERN BANKER, 306 15th Street, Des Moines, IA 50309. SERVING PROFESSIONALLY Bonking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 204 Securities Bldg. 5 1 5 -2 8 3 -2 5 4 5 Des Moines, Iowa 50309 Who: f a s t s e r v ic e RECORDS l.ln c OFFICE BLDG. ¿ a 50319 NOTICE OF PUBLIC SALE OF PLEDGED BANK STOCK NOTICE IS HEREBY GIVEN th a t THE MARQUETTE NATIONAL BANK OF MINNEAPO LIS (“ Marquette” ) w ill hold a public sale in the Executive Conference Room, Corporate Loan Division, Second Floor, The Marquette National Bank of Minneapolis, Multifoods Building, Minneapolis, Minnesota, on the 8th day of September, 1977, at 10:00 o’clock a.m., for the purpose of foreclosing its security interest in and selling 999.6 shares of common capital stock of The First National Bank of Hinsdale, Hinsdale, Montana. This stock represents a controlling interest, in that there are 1,400 shares outstand ing. The subject bank stock secures obligations of the pledgor to Marquette amounting in the aggregate to $342,039.54 (principal and interest) as of July 25, 1977. Terms are cash. To bid, you must register with Marquette prior to August 31, 1977. For further information, contact W illiam Rosacker, The Marquette National Bank of Minneapolis. Telephone: (612) 370-2222. Custom combine owner looking for second Iowa office. Four combines available. Contact: State Savings Bank, Baxter, IA 50028. 515/227-3161. COMMERCIAL LOAN OFFICER Progressive midwest bank has immediate opening for person with a minimum of 3-5 years commercial lending experience with commercial bank or national finance company. Strong credit analysis background and good personality required. Attractive salary and fringe benefits for right individual. Submit resume in complete confidence setting forth details of experience and salary history. Write Box BZJ, c /o NORTHWESTERN BANKER, 306 15th Street, Des Moines, IA 50309. SALE, LEASE OR LEASE PURCHASE Preconstructed financial buildings with all name brand bank equipment included. Permanent and temporary structures available. 12’ x 30’ up to 28’ x 70’ with full basement. SON CORPORATION, Box 684, Wichita, KS 67201-316/942-8167. POSITION AVAILABLE Centrally located Iowa bank has a position open in its installment loan department. Write Box PTG, c /o NORTHWESTERN BANKER, 306 15th Street, Des Moines, IA 50309. BANKERS PERSONNEL SEARCH, INC. 321 Stephens Building Des Moines, Iowa 50309 515/282-4446 or 515/961-5419 Harriette Allison, President Employer Paid Fee Confidential Bank Personnel Only BANKERS WANTED CASHIER—$20MM Illinois bank. Full accru al, all reports, some audit & systems analysis plus oversee computer opera tio n s ..............................................................$18,000 INSTALLMENT DEPT. HEAD— G row ing $75MM Iowa bank. Supervise staff of 5, prefer degree with 5-10 y rs. exper...............$20,000 MORTGAGE LOAN— Bank needs servicing mgr. for$100MM portfolio. Single family, construction & com’l. loans. Need working knowledge of EDP........................ $$OPEN FARM MANAGEMENT— Bank under $25MM located in wealthy farm area. Trust knowledge, administration & ability to develop business essential......................... $18,000 A complete BANK PERSONNEL SERVICE, serving the midwestern section of the U.S. (Staffed and managed by former bankers.) Call or send resume’ in confidence to: TOM HAGAN & ASSOCIATES P.O. Bx 12346—208 E. 18th Ave. North Kansas City, MO. 64116 (816) 474-6874 “IT TAKES A BANKER TO KNOW ONE" V ol. 6 N o. 16 Northwestern Banker New sletter is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, D es Mfor oines, Iowa 50309. Subscriptions 25 cents per copy, $8 per year. Second class postage paid at Des M oines, Iowa. Address all Digitized FRASER mail subscriptions, changes of address (Form 3579) manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis