The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Des Moines, Iowa August 2,1982 Money Supply Measure Needs Revision income or budgets. The past shows no success on the part of anyone in HEN summarizing his address in course and philosophy. Going c o rre c tly fo re c a s tin g b u d g e t before the 11 th annual conven through such a period is always dif deficits. It is not as important to tion of the Iowa Independent Bank ficult and the historian is left to know the budget deficit, but how ers at Lake Okoboji July 23, Mal judge. The key to it now is the next you go about reducing it. Two years ago when we had a bal colm S. Forbes, Jr., president and 12 months. The focus has been on anced budget, interest rates soared. chief operating the budget the past eight to twelve officer of Forbes, months and I feel that has been bad It doesn’t necessarily follow that in Inc., and senior ly misplaced. Congress’ current so terest rates must be high, but the editor of Forbes lution to raise more taxes by $100 fact is that increased taxes caused Magazine, New billion will make the problem worse. this, and it’s what Congress is doing York, stated: The fact is that high unemployment now—raising taxes at the wrong “ We are in is due to the recession, not the time. The full impact of the tax cuts one of the most budget deficit. One could drop won’t be felt until 1984. They should fruitful periods $75-$90 billion off the deficit if we have been put in full force in 1981 in 30 years in had only 6-7% unemployment. Each and we would have benefitted by scientific devel percentage of unemployment ac now. 3. Money Control. What should be opm ent-m icro- M.S. FORBES, JR. counts for about $15 billion deficit. computers, for example. The 1980s High interest rates and unemploy our top priority now, if not the bud could turn out to be one of our most ment combined account for three- get? Money control! The Fed has no guide, no compass to know if it’s productive periods.” fourths of the budget deficit. Before arriving at that conclu 2. The Budget. Deficits are the reprinting enough money or too much. sion, Mr. Forbes, the third genera sult of recession, not the cause of it. The real question to the Fed is, “Are tion of his family to hold the post of Budget projections for the next your current tools to gauge the editor of the magazine founded in few years are not worth the paper economy the right ones?” The ques 1917 by his grandfather, gave his they are printed on; a perfect exam tion also is how we put into practice analysis of the current economy, the ple of computer language-“garbage the old saw—too much money chas federal budget, the Fed’s money con in, garbage out.” The assumptions ing too few goods. The Fed has no reliable measure trol efforts and the fundamental used are based on false presump flaw he perceives, the cure for poor tions that the future will be like the of money. The one it uses doesn 't in monetary control, a look at the past. The fact is that if you build in clude the $200 billion in Money FDIC future, and observations for inflation in your projections, you Market Mutual Funds and ignores 1982. can balance the budget because the trillion dollar Euro-dollar 1. The Economy. What we’re goinflation gives the government market. A revolution in money in ing through today will rival the era windfall profits. If you decide to MONEY SUPPLY ... of FDR. It is a fundamental change fight inflation, you cannot predict (Turn to page 4, please) W Don't gam ble when choosing o correspondent bonk. Com e to the professionals. For any correspondent bonking need . . . overline assistance, data processing services, investment counseling . . . just give us a call. We're the professionals who put the response In correspondent bonking. CENTRAL Eddie A. Wolf, Sr. Vice President OF DES MOINES, N.A. • MEMBER FDIC • TOLL FREE NUMBER (800) 362-1615 AFFILIATED W ITH UNITED CENTRAL BANCSHARES, INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis pany and Capital City State Bank in Des Moines before joining Iowa-Des Moines National two years ago. 2 om e to us we’re first in Iowa because we put Iowa first. M ark Conway IOWA-. nesMomes A m N A T IO N A L B A N K g An Affiliate of Northwest Bancorporation Member FD ic Iowa News Officers elected by the Iowa Inde pendent Bankers at the 11 th annual convention at Lake Okoboji July 23 are: Pres.—Don W. Heineking, pres ident, Security State Bank, Hub bard; Vice Pres.—Arnold Schultz, president, Grundy National Bank, Grundy Center; Treas.—William P. Wilson, president, Oelwein State Bank; Immed. Past. Pres.—Fred W. Hagemann, president, State Bank of Waverly. Also, Richard Berglund, Des Moines, continues as executive vice president. BOOJVE: Benjamin R. Guenther and Jeffrey A. Jungman have joined the Boone State Bank & Trust Com pany as vice president and assistant vice president, respectfully. Mr. ASK STAN FARMER lill BANCO'* Call (515) 245-3131 or toll-free (800) 362-2514 Guenther was previously with the Mahaska State Bank in Oskaloosa and the United Central Bank of Spencer. Mr. Jungman was formerly employed as an examiner with the Iowa Department of Banking. COUNCIL BLUFFS: William F. Kabourek has been named president of State Bank and Trust. He suc ceeds David N. Walthall, who ac cepted a similar post at HawkeyeCapital Bank and Trust in Des Moines. Mr. Kabourek has been ser ving as senior vice president of Security National Bank in Sioux Ci ty, in charge of lending. Previous to that he was with Omaha National Bank for five years. DES MOINES: Bill Dodgen, ex ecutive vice president of Hawkeye Bank and Trust of Humboldt, has accepted a position as vice president with Hawkeye West Bank and Trust, effective August 2. Mr. Dodgen has served as an officer with the Humboldt bank since 1972. DES MOINES: Mrs. Gerald O. (Elaine) Nelson died July 21 in a Duluth, Minn., hospital following an extended illness. Burial services were held in Des Moines last week. # Mr. Nelson retired several years ago as vice president and head of the cor respondent bank department at Iowa-Des Moines National Bank. Since their retirement, they have # lived in Lutsen, Minn, 55612. DES MOINES: Northwest Bancor poration has received Federal Reserve Board approval to purchase Dial Corp. of Des Moines. Banco will purchase 4.5 million shares at $56 each for a total of $252 million. Pay ment will be made August 31 in Des Moines at Banco’s affiliate, IowaDes Moines National Bank. Dial has $1 billion in assets and 466 con sumer finance offices in 37 states. Banco has $15 billion in assets, 87 banks, five trust companies and 11 service companies in seven states. Banco will have to divest five Dial offices in Iowa. They are in Des Moines (2), Ft. Dodge, Mason City and Ottumwa, cities in which Banco has bank affiliates. Toll free 1- 800- 332-5991 ifit Merchants A National Bank 151 tt» «NI* A BANKS OF IOWA' BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis # # # FONDA: Tom Awtry has been elec ted president of First National Bank. He was formerly executive # vice president and director. He re places Gary Hermann, who resigned recently to become vice president DES MOINES: G. Kurt Wayne, and manager of a new Des Moines vice president in metropolitan bank office for Banco Financial Corp. An # ing of the commercial banking divi agreement to purchase First Na sion at Iowa-Des Moines National tional by a group of Fonda residents Bank, is resigning to accept a posi and Walter Clark, Omaha, awaits tion as commercial loan officer at regulatory approval. First Interstate Bank of Phoenix. • He will move to Arizona to start his WINTERSET: Richard D. Ervin of new duties at the headquarters bank Shenandoah has joined the Union effective August 16. Mr. Wayne State Bank. He was formerly man previously had extensive banking ager of Associated Financial Serexperience with Bankers Trust Com to make MNB work for you. Member F.D.I.C. f V— Carleton D . Beh Company Investment Bankers / financial Consultants 1300 Des Moines Building / Des Moines, lowa 50309 5 1 5 /2 8 8 -2 15 2 NEW ISSUE MOODY’S: A1 We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: $3,995,000 HARLAN, IOWA Electric Revenue Put Option Bonds Series 1982 DATED: June 1,1982 DENOMINATION: $5,000 Both principal and semiannual interest (April 1 and October 1; first coupon due October 1,1982) payable at the office of the City Treasurer, City of Harlan, lowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. 10.40% Amount $3,995,000 Maturity October 1,2002* Put Option October 1, 1985 Price Par** ‘ Callable on October 1, 1992 at par plus accrued interest. “ Par payment at bondholders option (term bonds): October 1, 1985. LEGALITY TO BE APPROVED BY CHAPMAN AND CUTLER, CHICAGO, ILLINOIS The City of Harlan, the county seat of Shelby County, is located in Western lowa, approximately 100 miles west of Des Moines and 45 miles northeast of Omaha. Harlan enjoys a unique position in western lowa being the only community in this county approximately ten times as large as the next sized community. Because of its size and geographic location Harlan has served as the commercial center of Shelby County and the surrounding territory for many years. Although Harlan is a commercial and trading center, industrial development includes Jacobs Tool Company (hammermills and trenchers); Western lowa Pork (slaughtering and processing pork); Charter Data Service (data processing); Agri Land-FS (steel buildings, farm accessories) and Harlan Manufacturing Company (food processing equipment). Transportation is furn ished by U.S. Highway No. 59, U.S. Interstate 80 and lowa primary roads. Air transportation is available in Omaha 45 miles away. There are two commercial banks with total deposits of $84,947,000 as of December 31,1981. In addition to its commercial banks, there are two savings and loan associations with combined assets of $281,000,000. The 1980 population was estimated at 5,357. The Series 1982 Bonds are being issued to refund outstanding Electric Revenue Bonds, Series 1979, Electric Revenue Pledge Orders, and Electric Revenue Pledge Orders, Series 1981, heretofore issued to defray the cost of necessary improvements and extensions to the Municipal Electric Light and Power Plant and System of the City. STATEMENT OF INCOME 1981 Actual Pro Forma 1982 1983 1984 Total Gross Revenue $1,709,000 $2,127,000 $1,884,000 $2,352,000 $2,447,000 Total Operating Expenses 982,000 982,000 1,072,000 1,140,000 1,343,000 Net Revenue $ 727,000 $ 812,000 1,145,000 $1,212,000 $1,104,000 Net Service Coverage 4.28 1.43* 2.25 1.52 1.27 *Debt service coverage related to maximum future principal and interest payments of $799,050 on outstanding bonds and the Series 1982 Revenue Bonds. 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 still be available or may now be available at a price or yield different from that indicated above. Division of https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Hutton & Company Inc. 4 recover slowly, with a faltering in 1983, then we will get economists and politicians looking at what they are doing and perhaps revise their approaches to the way they should Ken Boeder Today, your con be doing things. Interest rates will Bank Officer tinued profitability is Correspondent be down slightly, but not enough un Security National Bank as important to til we get monetary reform. Security National W estern Iow a’s Bank as it is to you. In the past, if you could make it Largest through a recession the inflation would bail you out. So, in coming SECURITY NATIONAL BANK months we will see more failures. As Sioux City, Iowa 51101 (712) 277-6554 Member FDIC independent banks, you hear many what brought about the Big Depres people say the future belongs to MONEY SUPPLY ... sion. After World War II we put in money center banks, American Ex (Continued from page 1) the Bretton Woods Agreement be press, etc. This is not true. If you the past decade has made money cause that was known for years as survive this trauma, it may be dif measures obsolete. For example, if what was needed. It began to un ficult but you will be prosperous. There will be more fee income for sweep accounts are used, how will ravel in the late 1960s and then Viet they be counted? So, the current Nam destroyed the agreement be banks; for example, fees for placing money measure is out of date. It tween 1968 and 1971, and President investments through a vendor. Most always needs to be revised, so I con Carter made it worse by shirking his customers prefer to deal with some one in town and I feel they are more sider this a fundamental flaw. responsibility for defense. Another point is that there is no In the late 1960s we applied the likely to want to deal with you as a reliable relationship between money wrong lessons. The top thinkers banker, instead of a Sears finance of supply growth and inflation. Ger thought their new approaches would fice. Maybe you will have less from many and Japan had higher money serve better, but actually they de your spread on loans, but you will growths, but less inflation. Ger stroyed things. It used to take $2 of earn more from fees. If one surveys the landscape to many had a very high inflation in debt to achieve $1 of growth; now, it the early 1920s but no money! When takes $10 of debt to achieve $1 of day, it is easy to be pessimistic, but its inflation crashed, the money sup growth. We have destroyed the that is not right. Look at what is be ply grew by several hundred per Bretton Woods Agreement, shirked ing done on tax changes, for exam cent. our defense responsibilities and ple, those things that really change our future. People are realizing more The fact is, the Fed is flying blind tinkered with trade regulations. and many of them there don’t know Today, we are trying to right the and more that all our problems can’t it! They think it’s dark all the time! military balance. Secretary of State be solved in Washington. We are in one of our most fruitful 4. The Cure. How do we cure the Shultz will have to put out a lot of fact that our central bank has no fires to avoid another Smoot- periods in 30 years in scientific reliable guide? Go back to the sound Hawley trade war. He played a key development, such as micro-com monetary principles of the 1950s role in demolishing Bretton Woods puters. We beat Japan and Germany and 60s. There was no inflation, we 10 years ago and now will have a and they rebuilt their industry com had steady growth. It was the result chance to undo what he did—to be pletely new, using all new proced of the Bretton Woods Agreement. come a repentant sinner. The Eur ures and equipment. The energy Foreign currency was tied to the opeans are totally against the way crisis is doing the same for us, forc ing us to revise our thinking, our dollar and the dollar was tied to we are handling our money policy. gold. The red flag was this. If your As we look at the next few months, procedures, policies and technology. money came under attack you had one of our questions must be, “Will Secretary Shultz may become our we address the question of whether dominant policy maker. to change your ways. The 1980s could turn out to be For example, after the election of central bankers will realize they President John F. Kennedy, who aren’t using accurate measures of one of our most fruitful productive □ was known as a liberal, the dollar the money supply and do something periods. came under attack. He put in a con about it?’’ We see a substantial re Nebraska News servative Secretary of the Treasury duction coming in marginal tax and in stitu te d productive tax rates and a radical difference in the BELLEVUE: Bob Hawley has ac breaks that reversed things. The way we look at budget formation. cepted a position as assistant to the Reagan tax breaks are a carbon copy Right now, Congress makes no dis president at the Bank of Bellevue. of that, and Democratic criticisms of tinction between spending and long He previously had been serving as President Reagan are the same as term capital spending. Off-line vice president and manager of the Republican objections then. Even if spending comes to over $100 billion First National Bank at Bristol, a someone told Teddy this and ex and is not in the budget. This will be branch of First National Bank of plained it he wouldn’t understand it! changed. Aberdeen. I believe President Reagan will go 5. The FDIC. The way it’s run back to the Bretton Woods Agree now is that good and bad banks pay OMAHA: First National Bank of ment. The question is, why did we the same rates. This will change. Omaha has announced the appoint get off of it? Policymakers of the Congress will rule that those banks ment of Kenneth R. Nimmo as vice late 1960s lost track of it, of what which pursue way-out loans will president, head of data processing. made the 1950s and 60s a success. have to pay whopping premiums. Mr. Nimmo recently joined the bank in June of this year. The trade wars and tariff wars are 6 . Rest of 1982. The economy will ^ W ith today’s rapid changes in banking technology, data processing is becoming an even more important management tool. That’s where I come i n .f f https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis w a 0 0 % # # • • • 0 0 Minnesota News JORDAN: Richard D. Hofer has been elected president and chief ex ecutive officer of Northwestern State Bank of Jordan. He succeeds Robert L. Bue, who accepted a posi tion recently as president of a bank in Austin. Mr. Hofer has been serv ing as vice president at First North western National Bank in Denison, also a Banco affiliate. Speakers are small computer agri cultural and banking experts from throughout the midwest. For more information, contact AMBI head I W I I r « r r Robert Scott, I I ■ % ¡ 9 0 0 0 Correspondent Banker quarters, Suite 110, 217 E. Monroe Street, Springfield 62701; telephone: £ 217/789-9340. * * * A letter of intent was recently ex ecuted providing for Firstbank of Il linois Co., the holding company for 0 The First National Bank of SpringMINNEAPOLIS: Kathleen C. Scan field, to also become the parent lon has been promoted from assis holding company of First Trust and tant vice president to vice president Savings Bank of Taylorville, an in the trust securities and control nounced chief executive officers ofoperations division of First Bank the two banks. Minneapolis. The definitive agreement must be approved by directors of Firstbank North Dakota News MINNEAPOLIS: C. Roger Lund- and First Trust, by the shareholders beck has joined Midland National BISMARCK: Bank of North Dako # Bank as vice president and trust in of First Trust and by various bank ta has announced the appointment regulators. The necessary approvals vestment officer, according to Harry of Thomas Tudor, general counsel, C. Benson, president and chief ex are expected by the end of this year. to vice president and general coun ecutive officer. Mr. Lundbeck had FREEBURG: Karl E. Gerhard has sel, and Dale Eberle, assistant vice been with Northwestern National joined the First National Bank as president, to vice president. Mr. 9 Bank of Minneapolis since 1969, cashier. He was formerly cashier at Tudor has been acting general coun most recently as a portfolio man the First Bank & Trust Co. in Green sel since 1980. Mr. Eberle joined the ager. bank’s audit department in 1974. ville. ST. PAUL: Duane H. Wille has joined HALLIDAY: James W alth has South Dakota News ^ First Bank Saint Paul as vice presibeen elected president of The Union ^ dent, loan administration and re RAPID CITY: The First National Bank. He succeeds Gerald Bogers, Bank of the Black Hills recently re view. His former position was senior who recently resigned. In related ac national bank examiner in the Min shuffled management personnel at tion, Gordon Hoffner has been elec neapolis office of the Comptroller of three bank branches. James B. ted senior vice president. Mr. Walth ^ the Currency, where he worked for Johnson, assistant vice president began his banking career at the and manager of the main office in ^ 22 years. stalment loan department, has been Valley Bank & Trust Co. of Grand named vice president and manager Forks in 1964. In 1973 he purchased Illinois News of the Deadwood branch. To fill his an interest in the Union Bank, serv The Association for Modern vacancy, Arlo Grass, manager in ing most recently as senior vice • Banking in Illinois will sponsor a Spearfish, has been moved up as president. two-day banking-agricultural micro vice president of loan administra JAMESTOWN: The board of direc and mini computer seminar and tion. Myles Kennedy will transfer to tors of First Bank Jamestown has trade show August 31-September 1 Spearfish as vice president and man elected Densel M. Mason president in Springfield. The site will the the ager from his position as vice presi and managing officer, and H.F. Bue• Holiday Inn East, with registration dent of marketing in the Rapid City gel chairman of the board, effective now being taken. office. August 1. Mr. Mason is currently Call our Bond Department Getting it done for you. "Opportunity Tom Steffens Vice President John Henderson Vice President 234-2462 234-2463 Tony Paugoulatos Jim McLaughlin Asst. Vice Pres ¡dent Asst. Vice President Dave Witten born Bond O fficer 234-2647 Rick Patton Bond Representative 234-2691 234-2877 234-2673 Commerce Bank o f K ansas City MEMBER FD IC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis V ,„ ,h w a .™ , (816) 234-2000 6 associated with First Bank Langdon, where he has served as presi dent and managing officer since 1979. Mr. Buegel has been asso ciated with First Bank System since 1949, and has served as president of First Bank Jamestown since 1966. Montana News BILLINGS: A.E. Omdahl, chair man and chief executive officer of First Bank-West Billings, has an nounced the election of Jo Strever to vice president in charge of bank operations. Mrs. Strever began her banking career in 1965 at First Bank Billings, transferring to First BankWest in 1977 as assistant vice presi dent. BILLINGS: Kenneth D. Carson has been promoted to vice president and manager of agricultural loans at First Northwestern National Bank of Billings. Mr. Carson joined the bank in 1980 as assistant vice presi dent. —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. Northwestern Banker 306 - 15th Street Des Moines, Iowa 50309 Phone 515/244-8163 POSITION AVAILABLE AGRI OFFICER—Immediate opening, experienced ag. loan officer to head department in $23 million bank located in resort area. Excellent benefits. Submit resume and salary requirements to First National Bank, Pine City, MN 55063. _______________________________ (PA) OPERATIONS OFFICER—$23 million bank in lake area has opening for operations person. Knowledge of com pliance and other bank regulations helpful. Excellent benefits. Send resume and salary requirements to file QBL, c/o Northwestern Banker. (PA) LEASING MANAGER—3 to 5 years in leasing business. Degreed. Banking experience a plus. Send resume to: File OBM, c/o Northwestern Banker. (PA) Opening for OPERATIONS OFFICER with two-three years experience and desire to handle ag loans. Excellent oppor tunity in $9 million expanding north central Iowa bank. Send resume and salary requirements to file QBO, c/o North western Banker. (PAf AGRICULTURAL LOAN OFFICER—2-3 years banking ex perience. College grad. $60 million central Iowa bank. Write file QBN, 6/o Northwestern Banker. (PA) TIME TEMPERATURE • Steel Tubular Frame • Pole Optional • Remolt Control $2895 j§ § ) P.O . Box 263 Grand Island, Nebraska 68801 (308)384-0111 BANKERS AVAILABLE SEE THE SUMMIT!!! Three-Bedroom and Two-Bedroom, two bath townhomes available for sale or rent. Most have covered hot tubs on the deck. Prices range from $114,000.00 to $128,000.00. Financing available. Contact: D W A Y N E S M IT H Paradise Properties, P.O. Box S Dillon, Colorado 80435 Phone: 303/468-5846 I | □ I would like to sell my majority bank stock. □ I would like to buy majority bank stock. Please Contact: J. Mason Henry Charles E. Walters C o., Inc. I 39 Ginger Woods Road, Valley, Nebraska 68064 Phone: (402)553-6400 Senior Ag Lender, age 35, ISU grad., currently number two man in $50 million community bank, seeks growth situa tion in progressive bank. File 202 Number Two Person, age 36, currently senior vice president in charge of $28 million loan portfolio in community bank. Ready to move up. File 303 Operations Person with real estate loan and student loan exp., former examiner. Age 28. Seeks new opportunity under $26,000 Ag Lender with ISU degree and PCA experience. Farm background. $16,000 Ag Lender with ISU degree and three years experience seeks job in central Iowa. Salary $25,000 CEO with outstanding track record in small community bank seeks new situation at under $35,000. Handles in vestments and ag loans. Installment Lender with solid bank experience, now employed, wants to join a progressive community bank. Salary range $24,000 Marketing Executive with extensive experience. Salary negotiable. Write or call Malcolm Freeland, Freeland Financial Services, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays a reasonable fee.__________ 9 ^ W £ w £ POSITIONS AVAILABLE Commercial Lender for Colorado ski area bank Salary open. Instalment Lender with some commercial loan experience in community bank for bank in Colorado...............$23,000 Leasing Manager to start and head up new leasing depart ment for major midwest ba nk.........................Salary open. Ag Lender with two or more years experience with bank or Fed agency for southern Iowa ba n k.................To $23,000 Ag Lender with two or more years experience for north west Iowa b a nk................................................ To $24,000 Commercial Lender for major bank in northern Io w a ....... ....................................................................... Salary open. CEO position for $200 million Upper Midwest b a nk......... ....................................................................... Salary open. Insurance Agent with bank experience for Nebraska bank. .......................................................................Salary open. Real Estate Lender for eastern Iowa bank .. .Salary open. Write or call Malcolm Freeland, Freeland Financial Ser vice, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays a reasonable fee. Thinking about selling your bank? Consult with Homer Jensen or Dick Buenneke Over 50 years’ banking experience No fee to seller 1031 Carriers Building Des Moines, Iowa 50309 Phone: 515-243-7434 SERVING PROFESSIONALLY Do you have a dress code problem in your bank? Call us today to find out how only $1.00 per day per employee will correct it. ÆeAj/Loekk-^ CAREER APPAREL N . Main S t., Carroll, la ., 51401 712-792-2748 | When It conies to agriculture, banking and personnel. . . go to the specialists — go to AGRIcareers, Inc. Progressive bankers pay us to find the people they need. Ag. Loans/lns.....................SD. .$17-20,000 Ag. Lend. Off........................ IL. .$16-20,000 Ag. Lend. Off.......................Wl. .$16-20,000 2nd. Man (2)........................IA. .$20-25,000 Loan Offs........................... IA. .$15-20,000 Cred. Sprv...........................MD. .$22-26,500 Ask the ag banking specialists what’s available without cost or obligation. N EW H A M P TO N . IA 50659 M AS SEN A. IA 50853 I (515) 394-3145 (712) 779-3744 Banking,Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 POSITIONS AVAILABLE AGRI LOAN—$25MM bank with majority of portfolio in agri credits. Prefer 5 yrs. or more bank experience and ag related degree. $25,000 COMMERCIAL LOAN—supervise lending function in $75MM bank. Opportunity to assume #2 spot. Knowledge of ag credits a plus. $38,000 OPERATIONS—desire 5 yrs. experience in community bank of $30MM or more. Excellent opportunity for career advancement. Degree preferred. $26,000 CASHIER—position is second officer in $25MM suburban bank. Any experience with lending helpful. $23,000 INSURANCE AGENT—well established agency with good earnings record. Manage insurance function and assist with some real estate credits. Nebraska licenses a plus. $ Open REAL ESTATE LOAN—commercial real estate and con struction lending experience required for position in $100MM+bank. $30,000 INSTALLMENT LOAN—handle installment loans and assist with agri credits for $40MM Rocky Mountain area bank. $20,000 SENIOR COMMERCIAL LOAN—supervision of all lending activities in $80MM community bank. Prefer 7-10 yrs. ex perience in large bank. $40,000 ™ ^ ™ £ Additional positions available in midwestern states. All in quiries confidential. A resume' and salary history requested. TOM HAGAN & ASSOCIATES of Kansas City 2024 Swift - Box 12346 North Kansas City, MO 641 16 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 11 No. 15 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis £
@FedFRASER