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Des Moines, Iowa August 17,1987 World Monetary Policy Nears Reform • " p HE CURRENT era of uncerI tainty about world exchange markets will quite possibly give way to a strong international monetary system in 1988, according to Robert # A. Mundell, a prominent interna tional economist. At “Rostrum ’87: The New Deal for Exchange Rates: Its Signifi cance for Economic Policy,” Dr. # Mundell told an audience of 350 at the Minneapolis Marriott City Cen ter Hotel that within the next sev eral months he expects to see a strong commitment among major • world leaders to coordinate ex change rates. This action, in turn, will lead to more stable interest rates and strong economic growth, both domestically and abroad. # Dr. Mundell has been professor of Economics at Columbia University since 1974, where he was awarded the Jacques Rueff Prize in Political Economy. He has held a variety of • other teaching positions as well and played a prominent role in the devel opment of American and global eco nomic policy. A well-known speaker and author, Dr. Mundell has been an ® advisor to various governments and a member of international commis sions throughout the world. Dr. Mundell’s timely address fol lowed the appointment of Alan ® Greenspan as Federal Reserve Board chairman and Dr. Mundell’s return from Siena Italy, where he chaired the Santa Colomba Commit tee on International Monetary Re form, which hosted a series of con ferences in June. Dr. Mundell’s comments at the July 15 luncheon held for key First Bank customers and community leaders in the Twin Cities focused on the foreign exchange value of the dollar, the trade deficit and interna tional monetary reform. The move toward coordinated exchange rates, according to Dr. Mundell, crystal lized in September, 1985, when the Group of Five (Japan, Germany, France, Great Britain and the United States) met at the Plaza Hotel in New York and agreed to guide the dollar downhill. “Depre ciating the value of the dollar im plied a decision to accept a reflation in asset prices expressed in dollars,” Dr. Mundell says. In following months, the dollar did decline while Japanese and Ger man policies tightened. The trade deficit, however, did not decline. “The theory that ex change rate changes improve the trade balance of a country with a de preciating currency is not true,” Dr. Mundell explains. “The exchange rate has relatively little to do with a country’s real balance of trade. Rather, the trade balance is based on the relation between a country’s income or production and its expen diture or absorption which depends on the amount it borrows or the assets it’s willing to run down.” The current consensus among world leaders, according to Dr. Mun dell, is that the dollar is low enough against the yen. If this level can be maintained, at about 160-210 yen to the dollar, he says there’s a good possibility that a coordinated inter national monetary system will be put in place within the next year. The exact timetable for reform will depend on the results of the In ternational Monetary Fund meeting to be held this September and also the Japanese national elections sche duled for October. “Since certain levels of uncertainty will be eased after these events occur, I expect current exchange rates to remain the same until the next economic summit meeting is held in Canada during May 1988,” Dr. Mundell says. If a world monetary policy is in deed established, Dr. Mundell pre dicts that “interest rates will resume their downward trend, stock prices will rise, the trade deficit will become more balanced and the United States economy in general will be in good shape during the next one to two years.” Says Dr. Mundell, “Nothing on the horizon looks unfavorable. I ’m optimistic that 1988 will be a good year for the United States eco nomy.” □ After more than 120 years of providing correspondent banking services to the Midwest, you can say we’ve had a chance to polish our trade. Find out for yourself. Count on Commerce. 1*800-892-7100 1-800-821-2182 € s ^ S '£ eBank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (Outside Missouri) 2 president, consumer asset manager with Norwest Corp. in Minneapolis. ^ Alan Greenspan Becomes Federal Reserve Chairman Alan Greenspan, 61, was formally sworn in August 11 as chairman of the Federal Reserve Board of Gov ernors, the 13 th chairman since the Fed was created in 1913. He was sworn in by Vice President George Bush. Mr. Greenspan succeeds Paul Volcker, who gave strong, dynamic leadership to the Fed in his eight years of service as chairman from 1979 until his recent resignation. Iowa News Correction regarding the Insur ance Continuing Education Semi nars being offered by Iowa Bankers Insurance and Services in October, D ES MOINES: Steven G. Patter son has been elected executive vice president and chief operating officer of Hawkeye Bank & Trust. He most recently was president and CEO of • Citizens National Bank of Boone. Carol Stone has been elected the bank’s vice president and trust operations officer. She most recently was assistant vice president of in- • vestment operations at First Inter state Bank of Des Moines. publicized in last week’s Newsletter. the two separate sessions being of fered are 1) property/casualty and 2) life/accident and health. Contact IB IS for more information. * * * The Des Moines and Cedar Rapids chapters of the A IB will sponsor a seminar entitled “Strate gies 2000.” Carolyn Corbin of Dallas will conduct the seminar, which will be held at 5:30 p.m. at the Marriott Hotel in Des Moines on Aug. 25 and at 6:00 p.m. at the Sheraton Inn in Cedar Rapids on Aug. 26. The Des Moines seminar is $12 for A IB mem bers, $15 for non-members and $18 at the door, while the Cedar Rapids seminar is $10 for members and $14 for non-members. Call Marsha Kephart, Brenton Bank, Des Moines, (515) 244-4088 or Deb Klopp, Mer chan ts N ational B an k, Cedar Rapids, (319) 398-4211. * * * IT S will offer training seminars at ten locations throughout Iowa dur ing the fall months. Cost is $35 for first registrant and $30 for each ad ditional, and includes lunch. To find out more, call the IT S customer ser vice department at (515) 286-4335. * * J e rr y T ru d o MNB Correspondent Banker Together We Can Accomplish Great Things Call 319-398-4306 or toll free 1-800-332-5991 Strength of k Eastern J |ow a_^f Merchants National Bank m https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cedar Rapids. Iowa 52401 Member f d i C a ban ks OF IOWA BANK * GRAND JUNCTION: Claus Loof, 87, chairman of Peoples Trust & q Savings Bank, died of pneumonia August 10 at a Jefferson hospital. Burial services were in Grand Junc tion. Mr. Loof moved to Grand Junction in 1936 to become presi- g dent of the bank. He was elected chairman in 1966 and was succeeded as president of the bank that year by his son, Roger Loof, who continues as president today. Claus Loof also 0 had been a vice president and direc tor of First National Bank at Rippey from 1943 until his death. He was a member of the Iowa Bankers Asso ciation’s 50-Year Club. Mr. Loof is # survived by his wife, Katherine; his son, Roger; another son, Willis, of Wheaton, 111., and a daughter, Orah Jean Taylor, of Fort Dodge. • Nebraska News The Nebraska Bankers Associa tion will host its 1987 Ag Credit Conference September 10-11 at the Lincoln Hilton. Early arrivals may purchase tickets for the Reba McEntire and Dwight Yoakam Show at the Bob Devaney Sports Center. Thursday, Sept. 10 A.M. 8:00 R eg istration / C on tin en tal Breakfast. Ag Credit/Cash Flow computer exhibits. D ES M OINES: Richard L. Reis will join First Interstate Bank of Des Moines as senior vice president, re N EBRA SKA N E W S .. . tail banking. He previously was vice (Turn to page 4, please) I t's easier to talk Iowa banking with people who live it — people like Donald H . Jordahl and the cor respondent staff at Bankers Trust. C all 1-800-362-1688 or 515/245-2424. B ankers Trust Des Moines, IA M em ber FD IC Donald H. Jordahl Vice Presiden t 3 • N ow A v ailab le. . . . . . R ebfas ka ' S °‘'? r Ä S -” Ä K S?» a * " 1“ ' 1987 B a n k D ire c to rie s Accurate, up-to-date information on every bank in the state, concerning: • Officers and Directors • Deposits, Loans, Assets and other figures • Other offices away from main bank • Addresses and phone numbers • Departments within the bank and their officers • Correspondent banks used r NEW 1 9 8 7 EDITIONS Nebraska — Nearly 200 pages. Iowa — Over 300 pages. V A - ^ / / (z ò I Send me_________copies of the 1987 edition of the IOWA Bank Directory at $14.00 per copy. Send me_________copies of the 1987 edition of the NEBRASKA Bank Directory at $9.00 per copy. Our check is enclosed for $ _____________ (add state tax: Iowa @ 4% Nebr. @ 4%) Company Name __ ____________________ _________________ _________ CONVENIENT TO USE...lies flat for reading or copying (pages 31/4mx 6V2”). O fficer N a m e _______________________________________________ _____ P.O. Box or Street A d d re s s _______ City and S ta te _________ _____________________________ zip Orders shipped by return mail Phone _______________ Area Code NORTHWESTERN BANKER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1535 Linden St., Suite 201 515-244-8163 Oes Moines, Iowa 50309 a S&Ls Report 80% Earnings Decline deep regional problems in the savings and loan industry, total earnings U.S. thrifts fell 80 percent for the first quarter of this year compared with the same period last year, ac cording to Sheshunoff & Company, Inc., the leading information and consulting firm for the banking in dustry. While savings and loans in 35 states reported earnings declines, the industry’s greatest problems are focused in Texas and the Southwest. Nationwide, repossessed assets as a percent of total assets came to 1.28 percent, up from 1.11 percent dining the previous quarter. Of the $2.0 bil lion increase in repossessed assets, $1.1 billion came from Texas sav ings and loans alone. Nationwide, combined earnings for the first three months of the year for all 3,228 federally insured sav ings and loans came to $340.4 mil lion, compared with earnings of $1.7 billion for the same period last year. Likewise, annualized return on assets came to 0.11 percent, down from 0.61 percent reported for the first quarter of 1986. All 12 states that reported net losses were in the W est and South west. Texas thrifts reported the largest loss, $1.1 billion. Savings and loans in states east of the Mis- R e f l e c t in g sissippi River, on the other hand, reported positive results for the quarter. for Total repossessed assets in creased nationwide by 15.1 percent over the previous quarter. In total dollars, the figure grew to $15.5 billion as of March 31, 1987, com pared with $13.5 billion reported as of December 31, 1986. One savings and loan was closed during the first quarter, down from three closed the previous quarter. The number of FSLIC-assisted mer gers and acquisitions increased to 21 from 10 during the previous quarter. And FSL IC management consign ments totaled seven for the quarter, down from ten the previous quarter. N EBRA SKA N E W S .. . (Continued from page 2) 9:00 Today’s Ag—Marlin Jackson, Arkansas State Bank ing Commissioner. 10:00 Washington Legislative Is sues—Floyd Stoner, federal legislative representative, ABA. 11:00 FmHA Update—Kirk Jam i son, State Director. 11:30 Security Interest in Govern ment Payment Programs— Steve Turner, Omaha attor ney. A Meeting O f The M inas. A t Security National Bank, our minds are on meeting all your Corresponden Banking and Investment needs. Noon Ag Recognition LuncheonP re se n te d to Bu rnh am Yates for a lifetime of ser- w vice to Nebraska. P.M. 1:30 NE Banker - Chapter 12 Bankruptcy Panel: Phil Burns, president, Farm ers & Merchants National Bank, W est Point; Dale Goff, vice president, Rich ardson County Bank, Falls City; Kelly Holthus, presi dent, First National Bank, York, and Chuck Leffler, Sr., president, Security National Bank, Sidney. 2:50 Attorney - Chapter 12 Bank ruptcy Panel: Bill Brandt, NBA general counsel; and attorneys Steve N elsen , L in c o ln ; J o h n Pierce, Lincoln, and Steve Turner, Omaha. 5:00 Ag Credit/Cash Flow Com puter Exhibits. 6:15 Western Steak Fry. Friday, Sept. 11 A.M. 7:45 Continental Breakfast. Com puter exhibits. 8:30 Agricultural Outlook for # 1988—John Marten, staff economist, Farm Journal Magazine, West Lafayette, Ind. 9:30 Cash Flow - Who Needs I t — # Dennis McCuistion, McCuistion & Associations, Irving, Tex. 11:15 Chapter 12 Bankruptcy— The Hon. Timothy • Mahoney, U.S. Bankruptcy Court. We’re Security for you! COL. GORDON E. TAYLOR Wilma Weeks Correspondent Services Officer 712-277-6769 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Richard Ktinz SECURITY N A TIO N A L BANK IN SIOUX CITY, IOWA. MEMBER F.D.I.C. Investment Representative 712-277-6522 Box 949 - Mason City, la. 50401 515/423-5242 Professional Auctioneer Real Estate Broker and Appraiser aqn careers , inc. ___f BANKING PERSONNEL SPECIALISTS BANKERS AVAILABLE NA-1 OPERATIONS/OFFICER— Cashier has ten years experi^ ence in accounting, auditing and bank operations. Holds a 9 four year degree in Business Administration and Manage ment, plus AIB courses. Prefers Dakotas or Minnesota locations. $32,000. Call 515-394-5827. NA-2 LOAN OFFICER— Four years experience as ag lender • and credit reviewer. Reference declares, “ Intelligent young man with excellent analytical abilities. He has good basic knowledge of credit.” 4-year degree in Ag Educa tion.” $26,000. Call 515-394-5827. NM-3 VICE PRESIDENT— Six years lending experience. For the past 3 years he has handled $5mm portfolio for major holding com pany bank. Deals primarily with ag. Some commercial, real estate, and consumer loans. Skilled in an alysis, very thorough in documentation. Reference de# dares, “ An honest, hard working young man who puts forth 100% effort. A good thinker, and able to make deci sions. Has EXCELLENT people skills; makes friends quickly.” Degree in Bus. Admin. $29,000. Call 712-7793567. • * f NA-4 COMMERCIAL LOAN OFFICER-Has over five years in lending. “ Has experience in supervisory capacity, credit analysis and delinquency monitoring. He will go a long way in a short tim e,” exlaims reference. 4-year Degree in Business Admin. $30,000. Prefers Iowa or MO. Call 515-394-5827. NA-5 VP/SR. LOAN OFFICER— College graduate has ac counting degree, ten years in banking. “ Has a very experienced approach to credit analysis, very detailed in docu® mentation. He is a bright and enthusiastic employee. Can take charge and make decisions,” says former employer. Management, computer and operations experience. Any midwest locations. $35,000. Call 515-394-5827. NM-6 SR. 0FFICER/L0ANS & OPERATIONS— Nine years as VP in $75mm bank. Equally experienced in lending and operations. Handles ag, commercial and real estate loans, supervises tellers, in charge of asset/liability management, government reports, computers, etc. Interested in advanc ing his career to a senior management position in smaller bank. Prefers W. IA or E. NE area. B.A. Business with A c counting emphasis. $30,000. Call 712-779-3567. NA-7 BANKING/LENDING— Eight years banking experience in consumer, commercial and ag. Management, com pu ter, operations and sales experience. “ Good business man...attuned to what is going on and is well rounded,” re ported former boss. Will relocate in IA. ISU Graduate with degree in Economics. $30,000. Call 515-394-5827. NA-8 LENDER/CR. SUPERVISION-South Dakota State Uni versity graduate majored in Business and Mechanized Ag. Additional courses in Marketing, Real Estate and Commu nications. Ten years lending experience in ag, commercial and installment lines of credit, including FmHA and SBA. Reference reported, “ Has excellent technical and analyti cal abilities. He’s motivated and likes challenges,” $33,000. Call 515-394-5827. NM-9 COMMERCIAL LOAN OFFICER-Currently employed by one of the nation’s leading bank holding companies. Re sponsibilities include development, evaluation and main tenance of business lines of credit and term loans. In charge of $5mm loans to wholesalers, high tech com pa nies, contractors, and small retail businesses. Developed over $3.5mm in new business last year. Extensive training in commercial loans, asset conversion, financial statement analysis, sales, pricing commercial loans, real estate, LOTUS 1-2-3 and FAST software. Numerous awards and recognitions in banking. B.A. Finance. Wants NE, IA, MO, CO. location. $25,000. Call 712-779-3567. We serve as the source to locate candidates who meet your qualifications and are interested in your bank, community, and salary range. We are available to assist, but allow and encourage your direct contact with our candidates. You make the choice and decision, without pressure. GARY MAAS 712/779-3567 Hwy. 92 W., Box 140 Massena, IA 50853 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Our fee is paid by the employer and is based on a percentage of the first year’s compensation. All placements are guaranteed. A complete explanation of our services, fees, and guarantees will be sent at your request. ANNETTE FAHNING 515/394-5827 Hwy. 63 S., Box 307 New Hampton, IA 50659 NA-10 VICE PRESIDENT/CASHIER— Ten years as cashier and branch manager. Four year degree in Business Ad min. Community minded. Good attributes in public rela tions. Prefers IA. $40,000. Call 515-394-5827. NA-11 AG LENDER— Agricultural Ed. degree with graduate hours. Three years in lending experience, plus Vo-Ag and farming. Excellent references, “ Strengths are his under standing of credit, his analysis, his self-motivation, his strong farm background coupled with excellent ag educa tio n and o u tg o in g p e rs o n a lity .’ ’ $28,000. Call 515-394-5827. NM-12 AG/C0MMERCIAL LOAN OFFICER— Four years in banking, in charge of $6mm ag and $1.5mm main street commercial loans. Very successful in getting FmHA gua rantees accepted. Excellent references, “ One of the most competent and efficient loan officers I’ve seen, and so pleasant to work w ith.’’ Holds all insurance licenses, col lege degree, and several job related seminars. Prefers NE or W. IA. $28,000 + bonus. Call 712-779-3567. NA-13 AG LOAN 0FFICER/INS. AGENT— Two years experi ence in ag lending. Some consumer and real estate. Has insurance license and real estate license. Knowledgeable with IBM and Cado Computers. Vo-tech school. Will locate in midwest. $20,000. Call 515-394-5827. NA-14 ASS’T V.P./L0AN OFFICER— Twelve years of ag credit experience with bank and FmHA. Some experience in consumer and real estate lending. Familiar with Lotus 1-2-3 computerized ag documents. “ Good head on his shoulders...knows the technical aspects of farming and credit analysis...very conscientious,’’ says reference. ^ 4-year degree in Animal Science and Ag. Business. ^ $35,000. Call 515-394-5827. NA-15 LOAN OFFICER/MANAGEMENT/INVESTMENT-Offers three years in ag sales and nine years in ag lending. “ Has excellent analytical abilities, good documentation with very • strong agricultural background. Admired by peers,” says reference. “ Very business like and good personality,” commented another reference. MS in Ag Finance. $35,000. Call 515-394-5827. NM-16 LOANS/MANAGEMENT— Eight years total bank experience, now serving as #2 officer in $25mm bank. Re sponsible for branch office, $6mm in loans and supervi sion of staff. Spent five yrs as #2 in ag department of large bank. Now works with installment, real estate, and main ^ street commercial loans as well as ag. Handles SBA and FmHA guarantees. B.S. Bus. Admin. Grad School of Bank ing, Ag Credit School, adept with personal computers, and holds insurance licenses. “ An excellent loan officer, keeps on top of past dues and collection problems, thorough ^ documentation, and can bring in choice new accounts,” relates reference. $32,000. Call 712-779-3567. NA-17 EVP/PRESIDENT— Has almost 20 years of banking and operations experience. “ They don’t come any better...hig hly m otivated...g ood com m unicator...can supervise. Wish I had him back,” quoted reference. A prize employee!!! Vast knowledge of computers. Attended Graduate School of Banking and many AIB Courses over the years. Experienced as bank auditor and operations ex aminer. Prefers midwest. $38,500. Call 515-394-5827. POSITIONS AVAILABLE 1 0PERATI0NS/0FFICER— #3 position in 40mm bank located in Central Min nesota town of 2,000. Close to resorts. Requires knowledge of investments, computers, reports and marketing. Must be mature, friendly, outgoing and be able to supervise employees. Must have at least two years of accounting experience. $28-$31,000. 2. VP/0FFICE MANAGER— Excellent N IA location. Clean bank with good growth potential. One of several banks held by progressive owners. Requires 3-5 years lending experience, a good business developer and PR person. G reat a d va n ce m e n t o p p o rtu n ity . $25-$28,000. 3 LOAN OFFICER/INSURANCE SA LE S $60mm bank located in eastern IA. Re quires 2 years or more lending experi ence. Preferably ag background and knowledge of all phases of banking. Need only tech school education with experience in insurance field helpful. $20-$25,000. 4 FARM MANAGER/AG LOAN OFFICER— Position offers V2 time as ag loan officer and V2 time as farm manager. Even tually leading into full time farm man agement. $50mm bank located in N. Iowa one hour from several resort areas. Requires 3-5 years in ag related business. Must be outgoing and like sales and marketing. Prefer 4-year ag degree. Good benefits. $25-$28,000. 5 AG LOAN OFFICER-Requires 5 10 years as ag lender. Some operations if possible. Bank or FCS background ex perience. #1 rated $20mm bank lo cated in SW MN. Good hunting and winter sports area. $27-$30,000. ' https://fraser.stlouisfed.org 712/779-3567 Federal Reserve Bank of 140, St. Louis Hwy. 92 W., Box Massena, Iowa 50853 apri G4REERS, IN C . # • ^ # 515/394-5827 Hwy. 63 S., Box 307, New Hampton, Iowa 50659 IOWA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM! CALL OR WRITE IOWA BANKERS INSURANCE AND SERVICES, INC. 104 EAST LOCUST STREET DES MOINES, IOWA 50308 1-800-532-1423 or (515) 286-4344 KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TOPEKA, KANSAS 66601 (913) 234-2631 SOUTH DAKOTA BA NKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HAVE YOUR PREMIUMS SKYROCKETED? Are you FORCED to write one type of insurance with a company at a higher premium, just so they will write another type of policy for you? IF SO... PLEASE CONSIDER THIS We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM CALL OR WRITE KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 TOPEKA, KANSAS 66601 (913) 234-2631 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OWNED BY BANKERS SERVING BANKERS ' FirsTier Correspondent Services More of what it takes to serve you well. Firmier. Banks Lincoln Omaha • RrsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC Noon Big Red Luncheon—Coach Tom Osborne. P.M. 1:30 Mediation of Lender-Bor^ rower D isp u tes—Sam uel Van Pelt, Judicial Arbitra tion, Inc., Lincoln. □ OMAHA: At Norwest Bank Neb raska, N.A., Michael Drahota has 'been promoted to vice presidentspecial loan administration at the downtown office. He joined the bank in 1985 as a special loan administra tion officer. TECUM SEH: Terrence L. Geiger has been elected president of the Johnson County Bank of Tecumseh, a subsidiary of American National •Corporation. Mr. Geiger began his banking career in 1972 and served as the president of other banks prior to joining American National Corp. in 1986. South Dakota News SIO U X FA LLS: Truman D. Phelan, senior vice president for business banking at Norwest Bank South Da® kota—Sioux Falls, has been pro moted to senior credit administrator for Norwest’s South Dakota Region. He succeeds Vance O. Williams, who was recently named president of B Norwest' Montana region. Minnesota News The Minnesota Metro A IB will of fer the following seminars in Sep tem ber, at their facility in Min neapolis: 9th—Residential Interim Construction Lending; 10th—In terim Construction Loans: Docu menting and Funding the Commer cial Project; 22nd—Legal Personnel Issues; 23rd—Real E state Docu mentation; 24th—Analyzing the Fi- nancial Statements of the Self Em ployed Applicant; 24th—Service Means Business; 29th—Letters of Credit; 30th—Laws, Rules and Duties of the Letters of Credit Banker. M INNEAPOLIS: Leslie S. Biller, executive vice president and head of consumer markets at Bank of America, San Francisco, has been named to the new position of cor porate executive vice president and head of strategic planning and ac quisitions for the Norwest Banking Group. Come to the Investment Specialists committed to quality. Montana News BELG R A D E: On July 31, the FDIC granted financial assistance under Section 13(c) of the Federal Deposit Insurance Act to prevent the failure of Valley Bank of Belgrade. The ac tion followed notification by Mon tana Banking Commissioner Fred J . Flanders that the bank was in dan ger of failing. The Belgrade bank will be acquired by Mountain Bank Systems, Inc., Whitefish. The FD IC will assist with a cash infusion of $3,025,000. It will assume none of the bank’s assets. Mountain Bank Systems is contributing $1 million to the bank’s capital structure. BILLIN G S: Vance O. Williams has been named regional president for Norwest in Montana, effective Sept. 1. He succeeds C.P. Buck Moore, who has been named to the new post of regional chairman for Montana and who remains Norwest regional president for South Dakota. Mr. Williams currently is executive vice president of Norwest Bank South Dakota—Sioux Falls, and senior credit administrator for the South Dakota region. BANKING CAREERS quality service by experienced professionals Confidential. Fees Paid by Employer. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis In these times of change and uncertainty, rely on the time-tested quality invest ment recommendations of the Investment Banking Division of United Missouri Bank. Ih U N IT E D M ISSO U R I BANK MemberFDic Kansas C ity, n.a. 10th & Grand • P.O. Box 226 Kansas City, Missouri 64141 • (816) 556-7200 RYAN AUCTION CO., INC. Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319-382-8648 "Professional assistance in hiring and career advancement" Jean Eden 515-276-1151 5 2 5 M erle H ay T ow er Sandi G am er 515-832-1258 T/W/F 276-1253 M/TH Des M oines, Iowa 5 0 3 1 0 • 5 1 5 -2 7 6 -1 1 5 1 6 Appraisals, expert opinions and other management services SWORDS ASSOCIATES. INC. PROFESSIONAL BANKING CONSULTANTS 4900 OAK SUITE 301 KANSAS CITY, MO 64112 (816) 753-7440 POSITION WANTED WANT ADS— Rates are $5.00 per line per Insertion. Add $3.00 for file letters per Insertion. Identity of file letter advertisers cannot be revealed. SAFE DEPOSIT BOXES, Standard or Custom Made. Ameri can Bank Equipment, Inc. 402-571-5621. A sensible alterna tive. Serving the banks of Nebraska and Western Iowa. Sales-Service-Installation. (FS) POSITION AVAILABLE Due to our conversion to our own in-house computer system, we are offering for sale a 1981 S 558 SINGLE POCKET PROOF ENCODER & A REWORKED S 558 SINGLE POCKET PROOF ENCODER. Both under mainte nance agreements. These machines are In good working order and are priced to sell. If interested, call 402-5824941. (FS) BURROUGHS: B80 COMPUTER ID188336416, Disk drive 2155 1841,4 platter fixed disc B9493-37,2 platter fixed disc B9493-18, line printer 9249-4. Contact Footville State Bank, Footville, Wise., M. Bohn (608) 876-6121. (FS) 3 yr. AG/COMMERCIAL LENDER desires new opportuni ties. FmHA, SBA, workout & fin. stmt, analysis experience. IA. St. Univ. grad. Send replies to File No. WJU c/o North western Banker. (PW) RECENT AMERICAN INSTITUTE OF BUSINESS GRADUATE with an associate degree in Business Administration, Financial Management, and Junior Accounting; seeking a banking career. Has experience on main-frame and per sonal computers. Dependable, responsible, and people oriented. Resume and references furnished upon request. Contact Thomas R. Cronin, Nashua, IA 50658. (PW) Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 INSURANCE AGENCY MANAGER. First Financial Net work is seeking an experienced insurance agent to manage a full line bank insurance agency. Candidate must have all licenses, 3-5 years PIC experience and be selfmotivated. Strong sales skills required. Management ex perience prefered. First Financial Network is a new multi bank insurance marketing company located in a progres sive town of 10,000. We offer excellent compensation & benefits + room for advancement. Send resume & salary history to: First Financial Network, P.O. Box 588, Oskaloosa, IA 52577. (PA) Rapidly expanding $41 MM Independent Bank seeks PRES/ CEO. The right individual should be experienced in market ing as well as bank operations. Send resume to File No. WJX c/o Northwestern Banker. (PA) Combined FARM MANAGER/AG LOAN OFFICER to develop into full time farm management position in developing farm management department. North central Iowa county seat town of 6,000. Independent community owned bank of $60,000,000. Send resume to Paul Johnson, Iowa State Bank, 5 E. Call St., Algona, IA 50511. (PA) AG LOAN OFFICER. $23MM bank. Minimum of 3-5 years experience needed. Salary negotiable, based on education and experience. Send resume to Gary Bergstrom, National Bank of Harvey, Box 239, Harvey, ND 58341. Or call (701) 324-4611. (PA) COMMERCIAL LENDER to supervise commercial depart ment in Mason City bank. Must have 3-5 years comm’l exp. with some ag background. Contact Jim Niemants @ (515) 423-2457. (PA) AG OFFICER with minimum 5 years experience to be in charge of ag lending as second officer for $16 million bank. Need officer who knows cash flows and ranch bank ing. Preferably under 45. Send resume to File No. WKG c/o Northwestern Banker. (PA) POSITIONS AVAILABLE VP COMM’L Reach for the top! Highly visible position managing 7-8 lenders and strong support staff for large successful bank. Qualifications nesc. are 5 + yrs working w/$15M or larger portfolio and supervisory exp. $45K. AG LENDER Immediate opening for aggressive 2 yr lender w/insurance lisc., farm call exp and knowledge of FmHA's. Bank is well capitalized (10% + ) and very profitable. Rural community near county seat town, offers shot at presidency. $22K. EXV.P. Put your talent to work! Progressive bank in fast growing financial marketplace seeks 8-10 year lender w/comm’l and real estate skills. Business development will be one of the keys to this future president’s position. $42K. AG LENDER County seat bank has prime opportunity for hard-charger unappreciated in present position. 2-5 years exp in lending w/farm mgmt exposure and understanding of farming. Will have supervisory position and play prominent role in bank, which is comm’l, the rest is consumer and real estate. Need 4 + yrs comm’l. Stromg community Involvement and sound comm’l training. $30K. COMM’L LOAN OFFICER Premiere Mpls bank seeks 2 + year commercial lender who has worked with $12M + portfolio in large bank or metro area. Will promote rapidly and offers the freedom you’ve been looking for. $40K. P 0 R FURTHER INFORMATION CONTACT KURT ROSENCRANTS ROBERT HRLF o r IOWA.MC. 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 POSITIONS AVAILABLE FARM MANAGEMENT/AG LENDER— Excellent o p p o rtu n i# ty to manage and further develop farm management de partment. $60mm Iowa bank..................................To $28,000 REAL ESTATE LENDER— Illinois bank needs an experi enced banker with knowledge of secondary marketing. .................................................................................. To $25,000 TRUST OFFICER— Profitable financial group needs an e x - ^ perienced Employee Benefits Officer to provide leaderships and serve as consultant for their member banks. Requires a blend of technical and business development skills. .................................................................................. To $45,000 COMMERCIAL MORTGAGE—Growing department look ing for an experienced lender with the desire and dedica tion to achieve success. Degree plus 2-3 years experience. ................................................................ To $ 2 5 ,00 0 # Financial Careers, Inc. Two Ruan Center/Suite 1000, Des Moines, IA 50309 515/245-3786 Employer pays fee. Please contact Lorraine Lear or Malcolm Freeland c o n -A cerning these and other Midwest banking opportunities. ™ POSITIONS AVAILABLE PRESIDENT Are you fed up with false promises? Then the #1 spot in ^ this medium sized bank may be the position for you! This is a key Southern Minnesota hub city that offers an ex cellent quality of life! Use your 10+ yrs. com’! lending ex perience and management skills to run this holding com pany’s most profitable bank. To $60K + incentive. Job#NW2110. DEALER FINANCING MANAGER CONSUMER LOAN MANAGER Has progress tapered off? $55mm bank in Southern Min nesota needs dynamic consumer lender with 3 + yrs. ex perience in direct & indirect lending, student loans & real estate. A terrific opportunity to spring your career forward. To$30K. Job#N W 2112A FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR JEAN TODD ROBERT HRLF OFMMHESOTA,H M C . 3636 IDS Center Minneapolis, MN 55402 # (612) 339-9001 R eg en cy ALL FEES COMPANY PAID RECRUITERS, INC. POSITIONS AVAILABLE POSITIONS A V A IL A B L E EXVP/SR LO - $50MM bank. Manage entire loan function. Require strong Ag background. Excel lent compensation oppty................................ $40’s. COMML LOAN - $50MM suburban bank with excellent growth and earnings history. Handle majority of commer cial credits. Report directly to President. $38K CASHIER/VP - $20MM clean bank. Resort commu nity. Male/Female................................................ Low$20’s. CEO - suburban de novo bank. Experience as CEO or COO required. Strong commercial loan and business develop- # ment skills desired. Open REAL ESTATE LENDER - $100MM bank. Prefer 2 yrs mortgage loan exp. Would also consider mort gage processing exp............ .....................mid $20’s. SBA/COMM’L LOANS - $150MM metro bank. Need extensive SBA background................................. mid$30's. TRUST OFFICER - Leading metro bank has oppor tunity in Trust Dept for an experienced investment officer..........................................................mid$40’s. SVP/OPERATIONS OFFICER - $40MM excellent rural bank. Community of 7,000............................. in$30’s. For confidential service contact Diane Evans or Wayne Chatham Regency Recruiters, Inc. 1102 Grand Avenue Kansas City, MO 64106 816-842-3860 LOAN REVIEW - large urban bank affiliated with major midwestern holding company. Degree and 2-3 yrs. loan review/workout experience desired. $30K TRUST OFFICER • medium size community bank with growing trust dept. JD preferred but not mandatory. $27K COMML LOAN - S100MM community bank. Supervise com- ® mercial lending function. Future advancement possible. $45 K Additional positions available in midwestern states for experienced bankers. TOM HAGAN & A SSO CIA TES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 A “ S e rv in g th e B a n k in g I n d u s tr y S in ce 1 9 7 0 ” Vol. 16 No. 18 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * New listing! Our Rochester client is looking for a high energy achiever to coordinate its dealer finance division. In this high visibility position you will be armed with highly competitive rates to develop the automotive & marine mar kets in the Southern Minnesota region. Position requires degree, 3 + yrs. indirect dealer financing experience anew an aggressive personality. To $35K. Job #NW211 1 # #
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