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Vol. 10 No. 17
Des Moines, Iowa
August 17,1981
Sees Interest Rate Decline
URRENT economic trends
“C
are placing downward pres
sure on interest
rates,” said Dr.
Richard
S.
Smith,
North
western National
Bank of Minnea
polis economist
on the release of
an appraisal of
credit conditions
in the bank’s
economic publiR-s - SM,TH
cation, “ Northwest Economic Indi
cators.”
According to Dr. Smith, “ interest
rate volatility over the past two years
has been a result of unsettled
conditions on both the supply and
demand sides of the credit markets.
As the Federal Reserve’s policies
toward money supply growth become
increasingly more ingrained, future
interest rate movements will be
relatively more determined by the
demand for credit.”
“ Consumer credit demands should
be moderate for the remainder of the
year,” Mr. Smith said. “ The main
causes of this will be an unwillingness
on the part of consumers to take on
much additional debt, combined with
an increase in their ability to finance
new purchases out of current income.
New mortgage credit also will remain
weak despite the large pent-up
demand for housing. Record high
mortgage rates will decline only
slowly and many prospective home
purchasers will remain unable to
afford any upgrading in residence
quality.”
“ Business credit demands are also
likely to remain moderate over the
second half of 1981,” he said.
“ Efforts to control inventories and
capital spending will continue. In
addition, accelerated depreciation
will improve internal cash flow .” A
considerable amount of business
credit demand will shift from the
short to the long-term market, Dr.
Smith noted.
“ The Reagan Administration’s tax
and budget targets through fiscal
1982 have been approved by
Congress,” he said. “ However,
uncertainty exists regarding the
inflationary impact of deficits over
the near future. Particularly, interest
rate levels in excess of those assumed
by the Administration over the next
year could have a substantial adverse
impact on federal government
spending.”
Regarding the financial markets,
Dr. Smith said that positive factors
currently outweigh negative ones for
the remainder of 1981. However,
market stability will stay fragile at
best until confidence in the fiscal
responsibility of the federal govern
ment is re-established.
In summary, Dr. Smith said,
“ Credit demand conditions over the
remainder of this year should allow a
cyclical easing in the cost o f credit.
Private sector credit demands should
remain moderate into next year,
unless a rekindling of inflationary
expectations provokes a new surge of
anticipatory spending. Federal gov
ernment deficit trends remain the
major key to this question. The
financial market nervousness seen so
far this year has been justified.
Market stability will not be regained
until actual government spending
and taxation performance matches
the Administration’s projections.” □
Iowa News
The Iowa Bankers Association’s
first Commercial Lending Seminar
will be held September 2-3 at the
Hotel Ft. Des Moines. The seminar
will focus on credit analysis,
forecasting, loan pricing and manage
ment techniques. Its objective is to
help Iowa commercial lenders better
understand the dramatic changes
taking place within the industry.
Registration will begin at 9:30 a.m.
September 2 outside the State Room.
Registration fee is $70, which
includes meals, speaker fees and all
handout materials.
ALLISON: The State Bank held a
three-day open house recently to
commemorate its 100th anniversary.
ASK DALE FROEHLICH
to make MNB work for you.
Toll free: 1-800-332-5991
Pig;
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Federal Reserve Bank of St. Louis
s
Merchants National Bank m
Member F.D.I.C.
A BANKS OF IOWA’ BANK
2
"Opportunity
Colls..."
Leo Kane,
Correspondent Danker
American Trust
& Savings Dank
The Dank of Opportunity
Town Clock Plozo.
Dubuque, Io w a
CALL 319-582-1841,
COLLECT
The bank began serving the Butler
County community in 1881, the same
year the city of Allison was
incorporated.
CAM ANCHE: Paul Lindaman has
joined the Camanche State Bank as
assistant vice president-loans. Mr.
Lindaman transferred from the
Commercial State Bank in Marshall
town, where he had been since 1977.
DAN VILLE: DanP. Kelley has been
elected president of the Danville
State Savings Bank. Mr. Kelley has
been with the bank 31 years, and was
previously cashier and executive vice
president. Woodrow Hale was also
elected chairman of the board.
DES MOINES: Discussions that
could lead to the sale of 21.5% or
possibly all of the stock of Banks of
Iowa, Inc., were continuing last
week. Ben Schwartz, owner of
21.5% of the holding company’s
stock, and a prominent metals dealer
headquartered in Des Moines,
engaged Bear, Steams investment
bankers to sell his interests in Banks
of Iowa. Newspaper reports list the
purchaser as being Texas oil
multi-millionaire Clint Murchison,
whose interests include oil, real estate
and the Dallas Cowboys. Holmes
Foster, B of I president, said a person
representing a buyer of the Schwartz
stock met August 3 with the holding
Dorothea Wolfe
IOWA.
nesM
O ines
A
JL^
A NATIONAL BANK
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Federal Reserve Bank of St. Louis
company board “ for the purpose of
acquiring additional stock.
No
conclusions were made and there was
no offer,” Mr. Foster stated.
Banks of Iowa has 2,323,211
shares outstanding, of which the
Schwartz interests hold 499,046, or
21.5% . On June 30, the stock traded
about 31. When the Schwartz sale
was announced, the price moved up,
hit 44 on August 4 and has since
backed off a few points.
EARLH AM : The Earlham Savings
Bank plans a 50th anniversary
celebration on Saturday, Sept. 12.
Ralph B. Hunter, president, started
the bank in 1931. The bank will set up
a tent on Main street, and the
Madison County Pork Producers will
feature a pig roast. “ Floppy” of
WHO-TV and the West Des Moines
Dixieland Band will be on hand. Over
2,000 people are expected.
Minnesota News
BLOOMINGTON:
Northwest
ern National Bank Southwest has
named Michael McHugh senior vice
president-commercial banking. He
was formerly vice president and
commercial banking division mana
ger for Northwestern National Bank
of St. Paul.
CAM BRIDGE : The Federal Reserve
Bank of Minneapolis has approved
the application by Cambridge Capital
Co. to become a bank holding
company through the acquisition of
the Peoples State Bank here.
Nebraska News
MT. AUBURN: The Mt. Auburn
Savings Bank’s recent open house AURORA: Glenn Rauert has been
celebrating its 75th anniversary was promoted to assistant vice president
attended by over 300 customers and of the First National Bank & Trust
Co.
friends.
OSCEOLA: Clarke County State BRULE: Dennis Schwartz has joined
Bank held an open house for area the Bank of Brule as assistant vice
residents to view its recently president. He was formerly with the
remodeled facilities and updated Keith County Bank in Ogallala in a
equipment, according to Earl Curtis, similar position.
president.
M ILLIGAN: Jeff Krupicka has been
appointed assistant vice president
and ag representative at Farmers and
Merchants Bank.
PERRY: Dwayne Hochhalter will
join the Perry State Bank as vice
president, effective September 1. He
was formerly vice president and SPRINGFIELD: Springfield State
cashier of the Central Bank, State Bank and Springfield Insurance
Center.
Agency were purchased by the
W EBSTER CITY: Joe Parrish, Springfield State Bank Co., Inc., on
formerly vice president and cashier of August 3. E. Dean Kugler and Glenn
Farmers National Bank, has returned M. Adair gire the principal stockhol
to his position after a seven year ders in the company. Robert D. Iske
absence. For the past year and a half, has resigned as president and director
Mr. Parrish was chief executive and is succeeded in those posts by
officer of the Farmers Savings Bank Mr. Kugler, who was vice president.
Mr. Adair continues as executive vice
at Fremont.
president, cashier and director. Other
W EST DES MOINES:
Roger new directors include Karen J.
Petersen has joined the First Kugler, Virginia M. Adair and D .G.
National Bank as vice president. He McDonald. Other officers remain the
same.
f
ow did we get to
be first in Iowa?
By putting
Iowa first
An Affiliate of Northwest Bancorporation
Member FDIC
was formerly vice president of the
First National Bank in Sioux City. A
native of Greenfield, he entered the
banking business with Bank of
America, N .A.
Call (515) 245-3131 or toll-free (800) 362-2514
Illinois News
A new law which allows multi-bank
holding companies in this state will
be the subject of a series of workshops
Supplement to
Northwestern Banker Newsletter
8-17-81
Carleton D . Beh Company
Investment Bankers / Financial Consultants
1300 Des Moines Building / Des Moines, Iowa 50309
5 1 5 /2 8 8 -2 15 2
NEW ISSUE
SALE DATE:
$7,965,000
SCHOOL DISTRICT NUMBER 40
(Moline) Rock Island County, Illinois
General Obligation Notes, Series August, 1981
Dated:
August 11,1981
MOODY'S: MIG 2
(Underlying credit
Moody’s: A1)
August 1,1981
Denomination: $5,000
Both principal and semiannual interest (May 1 and November 1, first coupon due on May 1, 1982) payable at
American National Bank, Chicago, Illinois.
IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT
FEDERAL INCOM E TAXATION.
MATURITIES
$7,965,000
11.50%
November 1,1982 to yield
10.50
LEGALITY TO BE APPROVED BY CHAPMAN AND CUTLER, ATTORNEYS,
CHICAGO, ILLINOIS
•
•
•
•
School District Number 40, Rock Island County, Illinois, covers an area of approximately 27.88 square miles in northwestern Illinois
Molme.and Coal Valley Townships and parts of South Moline and Blackhawk Townships. The City of Moline (1980 U.S. Census 45,709) and the Village of Coal Valley (1980 U.S. Census - 3,200) are located within the School District. Moline, with Davenport, Bettendorf
(Iowa), Rock Island, and East Moline form the Quad City Metropolitan Area and are the primary cities in the Davenport-Rock Island-Moline
Standard Metropolitan Statistical Area (SMSA). The preliminary 1980 Census figure for the SMSA which includes the counties of Rock
sland and Henry in Illinois and Scott in Iowa was 383,017 and, in terms of population, is the second largest urban area in the States of
Illinois and Iowa. The area is known for its concentration of agricultural manufacturing plants. Situated within School District No. 40 are:
John Deere Company s Plow and Planter Works and Insurance and Export Facility; International Harvester; Caterpillar Tractor Co * and J I
Case.Another 8,080 employees work at the Federal Government installation at Arsenal Island which is the world’s largest manufacturing
arsenal.
These Notes are being issued in accordance with Illinois statutes as follows: $6,420,000 for educational purposes; $1 195 000 for
operations, building and maintenance purposes; $235,000 for transportation purposes; and $115,000 for municipal retirement fund
purposes. In the opinion of counsel, these bonds are legal and binding general obligations of School District Number 40, Rock Island
County, Illinois, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal of and interest on the
bonds without lim it as to rate or amount.
FINANCIAL STATEMENT
Estimated full value taxable property, 1980
Assessed value taxable property, 1980
Direct debt, including this issue
Total direct and overlapping debt
Population, 1980 estimate: 54,000
$948,473,319
316,157,773
9,070,000
17,828,185
Direct debt per capita: $167.96
Total debt per capita:
330.15
Tax collections have approximated 99.89% 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 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 stil I be available or may now be available at a price or yield different from that indicated above.
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Federal Reserve Bank of St. Louis
Division of
Hutton
& Company Inc.
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Federal Reserve Bank of St. Louis
CALL ON THE “PERFORM ANCE 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.
throughout Illinois in August and
September.
The eight, one-day multi-bank
holding company seminars will be
sponsored by the Association for
Modem Banking in Illinois. Another
provision of that law, permitting a
third limited service facility, will also
be discussed.
Governor James R. Thompson
signed SB 578 into law July 3, 1981.
It will become effective January 1,
1982.
James B. Watt, president of
A M BI, said, “ Shareholders, boards
of directors, chief executive officers
and the legal profession will be
interested in learning the effect of this
new law on the banking industry.”
Dates and locations are: August
26, Marriott O’Hare, Chicago area;
September 2, Buckley’s Ramada Inn,
Fairview Heights; September 3,
Buckley’s Ramada Inn, Fairview
Heights; September 9, Marriott
Oakbrook, Chicago area; September
10, Marriott Oakbrook, Chicago
area; September 15, Holiday Inn,
Bloomington; September 21, Hilton,
Springfield; September 23, Marriott
O’Hare, Chicago area.
South Dakota News
CRESBARD: An application for
federal approval by Dakotah Bank
Holding Co. of Aberdeen to acquire
the Bank of Cresbard has been
approved.
Dakota has again been ranked as the
34th largest agricultural lender
among all of the nation’s banks by the
American Bankers Association. This
is the same ranking as was held in
1979-1980 (July to July) dollar-wise,
however, the number of loans to
farmers and ranchers has increased
substantially during the year. The
ranking is established by official call
reports submitted to the FDIC and
compiled by the A B A .
For the first time, the A B A has also
ranked agriculture lenders by region.
The Bank of North Dakota has been
ranked the 10th largest agricultural
lender of the plains states, which
includes Kansas, Nebraska, Okla
homa, Texas, South Dakota and
North Dakota.
Meyer is a professor of energy at the
University of Wyoming, and has
been a director of the bank since 1965.
NEWCASTLE: Russell E. Knight,
president of the National Bank, has
announced the promotion of John J.
Roller to vice president. Mr. Roller
joined the bank as an assistant vice
president in 1978.
ROCK SPRINGS: First Security
Bank has promoted Paul Rheaume to
vice president. Mr. Rheaume joined
the bank as a loan collector, and is
currently manager of the instalment
loan department.
H.L. Thomdal, president of the
Bank of North Dakota,
has
announced the promotions of Evelyn
Zelmer to vice president and Alyce
Starck and Betty Zeeb to assistant
vice presidents. Ms. Zelmer joined
the bank in 1955 in operations. She
was promoted to assistant vice
president in 1977.
H ALLID AY: The Federal Reserve
Bank of Minneapolis has approved
the application by Union Holding
Company here to become a bank
holding company through
the
acquisition of the Union Bank.
Wyoming News
DEAD WOOD: The First National
Bank of the Black Hills has opened a
new office here. Dan Ondriezek is
manager of the new branch.
LARAM IE:
Paul J.
Jacques,
president of First Wyoming Bank,
N .A. here, has announced the
election of Dr. E.G. Meyer as
chairman of the board. Dr. Meyer
North Dakota News
succeeds C.R. Fortman, who recently
BISM ARCK: The Bank of North resigned for business reasons. Dr.
Call our
Bond
Department
For up-to-the-minutè,
accurate information
READY NOW
IOWA-NEBRASKA
BANK DIRECTORY
Publishedbif
N o r th w e ste rn Ba n k e r
O ES M O IN E S
COMPLETE INFORMATION
ON ALL BANKS IN
JOWAand NEBRASKA
A C C U R A TE
D E P E N D A B LE
POCKET S I Z E
The completely re-edited 1981 edi
tions of the Iowa Bank Directory and
the Nebraska Bank Directory are
available now. Up-to-date listings of
officers, statement figures, and other
vital facts about all Iowa and
Nebraska banks. Now only $10 for
Iowa and $6 for Nebraska (add 3%
sales tax for IA/NE residents). Send
a check today for your copies to
Northwestern Banker, 306 Fifteenth
Street, Des Moines, Iowa 50309.
Tom Steffens
Vice President
John Henderson
Vice President
Tony Paugoulatos Jim McLaughlin
Rusty Reese
Asst.Vice President Asst.Vice President Bond Officer
Dave Wittenborn
Bond Representative
234-2462
234-2463
234-2647
234-2691
234-2673
234-2674
{«» Commerce Bank of Kansascity' «>*andwain*
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Federal Reserve Bank of St. Louis
M em b e r FDIC
1
(816) 234-2000
PARTIAL LIST OF
AVAILABLE APPLICANTS
Errors & Omissions Coverage
1. Directors & Officers Liability
2. Trust Errors & Omissions
3. Data Processing Errors &
Omissions
4. Mortgage Errors & Omissions
5. “ All Risk” Liability Policy
SERVING PROFESSIONALLY
Banking, Financial & Business Personnel
Iowa and Nationwide
CAPITAL PERSONNEL SERVICE
714 Central National Bldg. 515-283*2545
Des Moines, Iowa 50309
WANTADS
Rates are $5.00 per line per insertion. Add
$3.00 for file letters per insertion. Identity
of file letter advertisers cannot be revealed.
NORTHWESTERN BANKER
306-15th Street
Des Moines, Iowa50309
Phone 515/244-8163
POSITION AVAILABLE
AG LOAN OFFICER for $42 million northwest Iowa
bank. Must have loan experience to handle $12 million
loan department. Excellent opportunity. Send resume
and salary requirements to file NBY, c /o
Northwestern Banker.________________________ (PA)
Excellent opportunity— CEO for Central Minnesota
$10 million bank. Looking for the experienced
individual that is ready to tackle management
responsibilities. Community minded and insurance
licenses are needed for this interesting and
challenging position. All inquiries kept confidential.
Please send resume to file NBZ, c /o Northwestern
Banker._____________ ________________________ (PA)
Opening for Loan Officer in $18 million northwestern
Illinois bank. Duties will include installment and
commercial lending and business development.
Excellent community; good growth potential. Send
resume and salary requirements to file OBA, c /o
Northwestern Banker.____________________
(PA)
INSURANCE MANAGER responsible for large
m ulti-line bank Agency. Experience in agricultural
and commercial necessary. Contact James A. Clark,
Lake Crystal National Bank, Lake Crystal, Minnesota
56055. Phone507-726-2137.____________________(PA)
LOAN OFFICER needed immediately in $32 million
bank. Experience in bank operation and lending
required. Contact Gary Hanisch, Farmers State Bank
of Crosby, ND58730. Phone(701) 965-6333.
(PA)
POSITIONS AVAILABLE
REAL ESTATE LENDER - Presently branch mgr with 4
yrsexpin R E Lending. Other resp include collections
and investments. Licensed in all lines of insurance.
$18,000.
fiuiamfiTED svsTEms
INSTALLMENT - BA degree in Business Admin.
Branch mgr with primary resp of installment lending.
□F iqujfvrinc.
$ 20, 000.
301 N. Ankeny Blvd., Suite 220
Ankeny, la 50021 515-964-1358
V.P. LENDING - 9 yrs exp with emphasis in
installment, ag, commercial and R E lending. Has ins
and R E licenses. $25,000.
ASST V.P . - BA degree with finance major. Lending
capacities in all areas. Also exp in operations and
marketing. $26,000.
— TRUST POSITIONS—
If you would like to evaluate your career
potential, my clients in the midwest have trust
and investment opportunities in the $18
thousand to $50 thousand range. Clients pay
our service charge and relocation. Call or write:
Gordon Mesley, Dunhill of Minneapolis
Suite 1135,730-2nd Avenue South
Minneapolis, MN 55402
Phone 612/355-6451
(PA)
ATM SUPPLIER
Commercial Loan Officer for central Iowa bank$24,000
Ag Lender for eastern South Dakota b a n k ----- $23,500
Data Processing Sales for major Iowa bank . . .$20,000
Bank Marketing position in major eastern Iowa
b a n k ................................................................ Salary open.
Now Available
• 1 -N C R 1780 NEW - on-line, never been used.
• Docutell TT300’s - on-line and off-line. Can be
upgraded to a TT2300.
• 2-IBM 3601 - on-line with off-line fallback.
of Iowa, Inc.
317 Òth Ave.
Des Moines, IA 50309
(515) 244-4414
ALL FEES COMPANY PAID
POSITIONS W ANTED
Ag Lender seeks central Illinois po sitio n .........$24,000
CEO in northern Illinois bank of $50 million seeks new
p o sitio n ................................................................... $40,000
Senior Ag Lender from Io w a.................................$30,000
Operations Officer in Nebraska wants to move to
Mountain S ta te s .................................................... $18,500
Ag Lender in Iowa with insurance licenses . . .$22,000
Commercial Lender wants position within 150 miles of
O m a h a ..................................................................... $25,000
CEO with solid lending exp. and examiner background
wants western Iowa J o b ....................................... $36,000
Write or phone Malcolm Freeland, Freeland Financial
Service, Inc., 246 Insurance Exchange Bldg., Des
Moines, IA 50309. Phone 515/282-6462. Employer
pays fee.________________________________________
WANT TO BUY
Individual wants to acquire Iowa or Neb. bank.
Contact in confidence: Mike Keim, 9916 Fieldcrest
Drive, Omaha, NE 68114, phone 402/393-8160. [WTB]
7\g Banking
Specialists
SINCE 1968
POSITIONS AVAILABLE
Retail Finance Rep . . . IA / N E . $20-22,000
2 Ag Lending O fficers
N D . $20-24,000
Ag Loan O fficer/ Insurance IA . $15-20,000
Professional Farm Mgrs. ( 2 ) .........IA & IL .
......................................................$20-25,000
Ag Lending O ffic e r........... N E . $15-16,000
Sales & Mktg. R ep............. N Y . $20-25,000
Ask the ag banking specialists what’s
available without cost or obligation.
S E C O N DO FFICER -suburban$50M M bank with solid
record of growth. Desired skills are commercial
lending and business development.
$35,000
PRESIDENT - $30MM suburban bank. Must have
proven record of administrative achievement in a
highly competitive environment.
$Open
OPERATIONS OFFICER - excellent opportunity for
advancement with $60MM affiliate of major Missouri
holding company. Prefer degree and 4-6 yrs.
operations experience.
$25,000
OPERATIONS - $150MM bank has opening fo r
manager of lobby personnel. Experienced branch
managerconsidered.
$20,000
LEASING OFFICER - growing leasing firm in desirable
Nebraska community is seeking a marketing oriented
individual willingtotravel.
$Open
All inquiries confidential. Resume’ and salary history
requested.
NEW HAMPTON. IA 50659 MASSENA. IA 5085:
I (515) 394-3145
(712) 779-3744
BOH CAREERS, IN C . S
J
TRUST OFFICER - experience with employee benefit
program required. Opportunity to manage own
division.
$25,000
COM M ’L /A G OFFICER - medium size Iowa bank is
seeking experienced middle management officer to
hand le commercial and some ag credits.
$25,000
Progressive bankers pay us to find the people
they need.
THE ORIGINAL AGRICULTURAL RECRUITER
Burroughs S-1000 1 2 pocket proof machine.
Purchased new 1978. $5,500.00. Towner County State
Bank, Cando, North Dakota. Phone 701-968-4421 .(FS)
Two ledger carts and trays. Cart dimensions, 16” high,
14” wide & 19” deep. Tray dimensions, 14” high, 10”
wide & 18” deep. Contact Peoples National Bank of
Columbus Jet., Columbus Junction, Iowa 52738.
Phone 319-728-2226.__________________________ (FS)
CORRESPONDENT BANKER - operations and
commercial credit experience desired. Travel Iowa or
Nebraska.
$30,000
UPDATE YOUR ALARMS
SECURITY SYSTEMS, INC.
3920 Delaware
Des Moines, IA 50316 [515] 265-1161
BO
ROBERT HALF
Operations Officer of $20 million Upper Midwest bank
seeks new opportunity..........................................$20,000
When it comas to agriculture, bonking and
personnel. . . go to the specialists — go to
AGRIcareers, Inc.
A u to m a tic tape dialers and police
panel connection are available to suit
your needs.
ALL FEES COMPANY PAID.
FOR FURTHER INFORMATION
RESPOND IN CONFIDENCETO:
Contact Mark Berryman at 214-757-7760.
W rite or phone Malcolm Freeland, Freeland Financial
Service, Inc., 246 Insurance Exchange Bldg., Des
Moines, IA 50309. Phone 515/282-6462. Employer
pays fee.
_____________________________ _______
Professionally installed closed circuit
television and 35mm auto cameras.
TRUST OFFICER - Over 11 yrs exp with major
emphasis
in
Trust
Admin,
New
Business
Development and Investments with the overall resp of
the Trust Dept. $28,000.
Bank Division
We can supply a variety of on-line and off-line
machines; all at fractions less than new. We
handle Docutell, IBM, Diebold and NCR.
Ag Lending position in northwest Iowa, immediate
o p e n in g ................................................................... $22,000
Commercial Loan Officer for major Iowa bank. $25,000
COMMERCIAL LENDER - 9 yrs banking exp with
concentration in commercial lending. Responsible
also as the banks compliance officer. Has bachelor’s
degree and ins license. $25,000.
/
TOM HAGAN & ASSOCIATES
of Kansas City
P.O. Box 12346,2024 Swift
North Kansas City, MO 64116
816/474-6874
“Serving the Banking Industry S in ce l 970”
Vol. 10 No. 17 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306
Fifteenth Street, Des Moines, Iowa 50309. 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.
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