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August 20,1984 Des Moines, Iowa Vol. 13 No. 18 Sen. G arn Gives Senate To u g h Ta lk N A TOUGH talk presented before the Senate just prior to the midAugust congres sional adjourn m ent, Senator Jake Garn (RUtah), chairman o f the Senate Banking Com mittee, charged opponents of S. 2851 o f using ‘ ‘ disinforma SEN. GARN tion,” “ misrep resentation” and, in some cases, “ outright lies” to derail the muchneeded banking bill. In a powerfully worded speech, Senator Garn told his fellow sena tors, “ Ninety-five percent of the bill is not controversial. It makes needed changes in the financial services in dustry.” The majority of Senator Garn’s speech was directed towards oppo nents of the bill — the securities and insurance industries. The opponents, he said, “ are so greedy, in some cases to preserve their lack of competition created by government rules and regulations, that they are willing to say anything about this bill in order to ensure its defeat.” Senator Garn used the Senate speech to introduce — as promised — two amendments to the pending Se I nate bill. One amendment, also spon sored by Sen. William Proxmire (DWis.), would permit bank holding company subsidiaries to offer mutu al funds. The second would allow states to authorize in-state activities for state banks. The American Bankers Associa tion strongly supports both amend ments and is calling on its member ship nationwide to urge their local senators to support S. 2851. Senator Garn aimed much o f his criticism against the insurance in dustry, which he said didn’t even have its facts straight on what was in S. 2851. “ They do not know what bill they are talking about. They say, ‘The bill would have left the loophole intact.’ That is simply a falsehood.” Senator Garn is going all out to seek enactment of the banking bill this year. “ There will be a compre hensive banking bill this year or there will be no bill. There will be no moratoriums; there will be no simple loophole closures. Congress has been fiddling on these issues for several years. It is time to put up or shut up — to move forward with a positive approach, with comprehensive legis lation and not little Dutch boys sticking their fingers in the dikes,” said Senator Gam. The Senate bill and two House bills remained pending for congres sional action and will face the law makers when they return to Capitol Hill next month. The House bills provide no new authorities for banks and would restrict a number of exist ing bank products and services. □ Iowa News The Iowa Bankers Association Commercial Lending School origi nally scheduled for August 19-25 at Iowa State University, has been postponed until January 6-12, 1985. The School was rescheduled due to conflicts at banks caused by vaca tion schedules and budgetary consi derations. The January school will retain the same faculty and still be located in Ames. Additional information will be mailed to banks at a later date. IN DIANOLA: James Davies has been elected president of Peoples Trust & Savings Bank. He succeeds the late R.W. “ Dick” Buxton, who had been serving as chairman and president. In addition, William Bux ton III was elected chairman and R. Dean Phillips was elected senior vice president. Mr. Davis has been with the bank since 1952, most recently as senior vice president in charge of the loan department. Mr. Buxton has been involved with Peoples Trust since 1928, serving as presi dent from 1945-1972 and as chair man until 1983 when he assumed the post of senior vice president and in vestment officer. Mr. Phillips joined Call on the “Experienced Professionals” Ready to meet your correspondent needs. FIRST NATIONAL LI NCOLN 13th & M Streets, Lincoln, Nebraska 68501 A FirsTier Company https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member, F.D.I.C. Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank ill D ES MOINES, IOWA 50304 A BANKS O F IOWA BANK Member FDIC the staff in 1981 as controller and was elected vice president in 1983. M APLETON: Charles G. Whiting, 93, chairman of Mapleton Trust and Savings Bank, died recently in a nursing home in Mapleton following a brief illness. He began as an attor ney and officer of the bank in 1913, after college. Following his service in World War I, he resumed his banking career, serving as president from 1951 to 1969 when he assumed the position o f chairman. Mr. Whiting served a total o f 71 years with Mapleton Trust and Savings, which was founded by his father in 1878. MT. A Y R: The Tingley State Sav ings Bank o f Mt. Ayr was closed August 10 by Iowa Superintendent of Banking Tom Huston after ex aminers determined the bank’s capi tal was depleted. Deteriorating ag loans in the southern part of the state where drought and other eco nomic conditions o f the past several years have impacted the economy severely were blamed. The FDIC sold the $1.7 million in deposits of the failed bank to Hawkeye Bank and Trust, also located here in Mt. Ayr (Hawkeye had $32 million deposits of its own before assuming the Tingley State deposits). Hawkeye Bancorporation paid FDIC a premium of $275,000 for the deposits, $1.9 mil lion in installment loans and about $3.6 million in other assets. FDIC injected $ 12.2 million to complete the transaction. Tingley State Sav ings customers were able to transact normal business the following Mon day morning at either Hawkeye Bank, or at the location of Tingley State in Mt. Ayr or the latter’s of fice in Tingley. The bank was moved from Tingley into Mt. Ayr two years ago. All deposits were protected in this deposit assumption. About $400,000 in deposits were involved in accounts that exceeded the $100,000 FDIC insured limit per ac count. Nebraska News ASK LYN N W H ITE M A N to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank ISI Member F.D.I.C. A BANKS OF IOWA BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A special session of the Nebraska legislature called by Gov. Robert Kerrey began Thursday, August 6 at 10 a.m. to address the issue of evaluation of ag land and the issue of taking over and disposing of failed state-chartered banks by the director of banking. The topic relating to banks has two parts: “ 1. To let the Director of Banking take possession o f a domes tic financial institution which is unable to meet its obligations as they mature, whose capital is im paired, which is conducting its business in an unsafe or unautho rized manner, or which is endanger ing the interests of depositors or savers. 2. Legislation permitting the acquisition o f a domestic financial institution in the possession of the Director of the Department of Bank ing and Finance by a non-domestic financial institution.” The ag land issue apparently calls for a constitutional amendment to clasify ag land differently. It also will discuss an ad valorem tax on land used solely for ag or horticul tural purposes. * * * Staffing improvements account for a significant portion o f the in crease in assessments announced re cently by Director o f Banking Roger Beverage. He told representatives of the Nebraska Bankers Association the hourly charge boost from $24 to $30 and the asset-based increase from 5$ per $1,000 to 15<f per $1,000 resulting from hiring seven new ex aminers, an office manager and two review examiners, as well as upgrad ing the salaries of the examining staff through merit raises and pay grade step-ups. Also, the state chartered commer cial banks have to pay for some of the costs associated with the Com monwealth failure and State Securi ty Savings Company bankruptcy. Because both are under the depart ment of banking supervision, which requires an additional attorney to handle those proceedings, the direc tor of banking is required to spread those costs across all state-char tered institutions. Actually, the increased assess ments bring the Nebraska depart ment more into line with other bank ing departments in surrounding states. * * * The Nebraska Bankers Associa tion 1984 A g Credit Conference will be held September 6-7 at The Cornhusker Hotel in Lincoln. Special at tractions at this year’s conference will be an appearance by Husker Coach Tom Osborne, and the Johnny Cash & June Carter Concert at the Nebraska State Fair. Registration will begin at 8:30 on the 6th. John Marten, staff econo mist for Farm Journal M agazine will lead off the conference with his talk on ‘ ‘Perspectives o f Agricultural Credit.” He will be followed by “ Managing for Tomorrow” by Dr. Doug Jose and Dr. Larry Bitney, de partment of ag economics, Univer sity of Nebraska, Lincoln. The morn ing session will conclude with Glenn LeDioyt, president, LeDioytland Company, Omaha, and his talk on 0 0 0 0 ^ 0 • • • ® 0 • 0 • “ How to Cope with Fluctuating Land Values.” Following lunch,* with special guest Tom Osborne, head football coach, University o f Nebraska, “ Fu ture in A g Options” will be pre sented by John Gaines ag lender marketing specialist, Chicago Mer cantile Exchange. The afternoon will wind up with a panel discussion on “ Solutions to Nebraska’s Farm Credit Situation.” Moderator will be Tom Olson from Lisco State Bank and FmHA Representative, Wash ington, D.C. Panelists include Kirk Jamison, PC A, Lincoln; Earl Hoing, vice president, Federal Land Bank, Omaha, and Morris Reynolds, Nebraska Investment Finance Au thority, Lincoln. A reception and barbeque will start the evening at 5:00 with bus transportation to the Johnny Cash and June Carter show from 6:30-7:30. On September 7, continental breakfast will be served at 8:00. A t 8:30 the first speaker, Dr. Herman Glaess, director of Potentiality En hancement Programs, Seward, will present “ Do You Ever Get Tired of Being an A g Lender?” To wrap up the morning will be a panel consisting of Moderator Bill Brandt, N BA general counsel, and panelists, Dan Jewell and Dennis Collins, Jewell Gatz & Collins Law Firm, Norfolk; Roger Weiss, president, Commercial National Bank, Ainsworth, and Jim Stratton, president, Osmond State Bank. The subject for the panel is “ Pre-bankruptcy Problems & Frivo lous Lawsuits.” Following the noon A g Recogni tion Luncheon, Rob Ruan, director, State Department of Agriculture, will wind up the conference with his talk on “ W hat’s Ahead for Nebraska’s Agriculture.” Adjournment is tentatively set for 1:30 p.m. 3 An important new profit center for your bank: ■ a co m p u terized local b illin ^ cred lt service National Leroy Bell or Milt Hennick 319- 291-5412 Bankof Waterloo 315 East 5th S t • W aterloo, IA 5 0 7 0 4 here has announced the promotion of Dwight Stubbs to senior vice president. Mr. Stubbs joined the bank in 1975 as vice president and has been serving in that capacity since that time. He was elected to the board in 1978. Contact: Member Federal Reserve System FDIC retail banking. Mr. Ryan previously was director o f marketing for the bank. Illinois News LOM BARD: Bruce W. Taylor has been appointed senior vice president at Bank of Yorktown. Previously vice president, Mr. Taylor will be re sponsible for commercial lending ac tivities, including commercial real estate. He began his career in 1977 at Main Bank of Chicago. O M AH A: A t Norwest Bank Omaha, Timothy J. Coughlon has been pro moted to senior vice president and Thomas Pettigrew to vice president. Mr. Coughlon transferred from Nor west Bank Sioux City where he was executive vice president in charge of the loan functions. Mr. Pettigrew started with Norwest Corporation in Wisconsin News 1982 and will become manager of MANITOW OC: The board o f direc the retail product services and pro tors of Security Financial Services, motions department. Inc., based in Sheboygan, has an nounced the appointment o f David Minnesota News DeDecker as president and chief op The Minnesota Bankers Associa erating officer of the Manitowoc tion 1984 District Meetings have County Bank. He replaces Gerald been scheduled as follows and will Censky, former president and foun include updates on M B A educa der of the bank, who retired August tional programs, insurance, legisla 1. He will continue with the bank as tive activities and a special session chairman. Mr. DeDecker was vice on the Bankrutcy Amendments and president and corporate division Federal Judgeship A ct of 1984. head of the Marine Bank West in Each district will also conduct a Brookfield before joining the Mani district business meeting which will towoc Bank. include the election of district offi cers and nomination endorsement South Dakota News for 1985-86 M B A officers. Following the meeting will be a social hour and GREGORY: Wayne Pauli has been BROKEN BOW: Charles Giles has dinner, followed by a motivational named vice president o f the new been named president of Nebraska speaker. First Fidelity Bank of Gregory, State Bank, following the resigna Sept. 17—District 6, Sunwood which officially opened for business tion of Ted Armbruster. Mr. Arm- Inn, St. Cloud; July 13. First Fidelity, based in bruster, who had been president for Sept. 18—District 8, Hibbing Inn; Burke, purchased the G regory the past ten years, resigned July 2 Sept. 19—District 9, Ramada Inn, business from the United National for personal reasons. Mr. Giles, who Moorhead; Bank. Mr. Pauli has been associated worked at the bank for 31 years, is a Sept. 20—Districts 3-4-5, Radis- with First Fidelity, Colome, the past member of the board and most re son South, Bloomington; seven years. cently was serving as executive vice Sept. 24—District 1, Rochester president and cashier. Also pro Golf & Country Club; North Dakota News moted at the bank were: Carl NorSept. 25—District 2, Orchid Inn, CANDO: Steven A. Grell has been den, executive vice president; Terry Sleepy Eye, and elected president o f First Bank CanJensen, vice president and personnel Sept. 26—District 7, Best West do. He succeeds Wayne N. Forgey, officer; Jerry Brown, vice president ern, Marshall. who accepted a position earlier this and administrative assistant, and RICHFIELD: Richfield Bank & year as president of a bank in ManJo Ann Woodward, cashier. Trust Co. has appointed James H. dan. Mr. Grell previously was presi GOTHENBURG: First State Bank Ryan as vice president, marketing/ dent of First Bank Pipestone, Minn. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Wyoming News CASPER: Howard L. Bauder and George R. Reece have been named vice presidents for Wyoming Na tional Bank. Mr. Bauder, who will serve as manager for the business development department, has been with the bank over ten years. Mr. Reece, who will serve in correspon dent services, has been serving as a commercial loan officer. BANKS FOR SALE BANK OWNERSHIP CHANGES —Our Specialty— SELLERS - if you already have a buyer for your stock and there is a question of whether or not it is a fair price - we can make an independent ap praisal. BUYERS •if you are about to purchase controll ing interest in a bank and there is a question of whether or not it is a fair price -we can make an in dependent appraisal. Those wishing to buy or sell - we can do the job for you if you are serious. CROW N BANKING SERVICES 325 W. Prospect Avenue Mt. Prospect, Illinois 60056 (312) 392-5151 Montana News G REAT FALLS: C. Robert Paciotti has been elected a vice president of Bank o f Montana System. Mr. Paci otti, president o f Missoula Bank of Montana, a company subsidiary, will assume supervisory responsibil ity of eight BM S banks. Supervising the remaining affiliated banks with in the multi-bank holding company will be Joseph J. Friend, senior vice president and senior credit officer of the system. FOR SALE NEBRASKA BANK— Centrally located in good rural com munity. $10-15 million deposits. Reply to file WBY, c/o Northwestern Banker. (FS) UP T 0 1250 SHARES O F COM M ON S TO C K of Peoples Natlonal Bank, Kewanee Illinois. Thomas G. Singley, Execu tor, c/o Shell Oil Co., One Shell Plaza, Houston, Texas. 77001 (FS) LUCY HUBER ‘‘Banking Specialist” 7625 Metro Boulevard • Suite 350 Minneapolis, Minnesota 55435 Phone (612) 835-4466 M ANAGEM ENT RECRUITERS O F MINNEAPOLIS TH E SEARCH AND RECRUITING SPECIALIST Financial Careers CEO for $60 million bank in midwest city of 35,000. Experi ence in commercial lending and administration essential ................................................................................Salary open. CEO for Nebraska community bank. Excellent opportunity ................................................................................Salary open. Sr. Ag Lender for large Wisconsin bank. Must have experi ence in major ag credits and ag degree . Salary to $45,000. Sr. Ag Lender for large Minnesota bank. Must be experi enced in handling large ag credits........ Salary to $45,000. Sr. Ag Lender for major Illinois bank. Must be experienced in working with large ag business customers and larger ag c re d its .........................................................Salary to $49,000. Trust Officer to handle trust and estates and make up tax reports. Investment experience and law degree not neces sary ...............................................................Salary to $35,000. Commercial Lender with experience in handling larger credits. Texas location. Excellent opportunity................... ........................................................................Salary to $50,000. Commercial Lender for major Oklahoma institution. Must have experience in large credit lines, cash flow, etc........... ........................................................................Salary to $50,000. Number Tw o man for $30 million Illinois community bank located on major duck flyw ay.................Salary to $38,000. Number two for major Iowa bank. Must have proven com mercial loan record.............................................. Salary open. Number Tw o person for larger northern Iowa bank. Must have both commercial and ag lending experience. Former examiner background a p lu s ....................Salary to $42,000. Operations person with experience. To head all operations in $60 million bank in Io w a ........................ Salary to $35,000. Installment person with a year or so experience wanted by community bank in eastern Iowa for compliance/collections and lending.......................................Salary to $18,000. EDP Auditor for billion dollar bank. Wisconsin location . . . ........................................................................Salary to $35,000. •We have many other opportunities. Call or write Malcolm Freeland or Cy Kirk at Freeland Financial Service, Inc., 1010 Equitable Building, Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays reasonable fee.____________ LOAN W ORKOUT SPECIALIST Available on a permanent or temporary basis in an on line or advisory capacity for: AG LOAN OFFICER-lmmediate opening for ag loan officer in $24 million western Nebraska bank. Salary and benefits commensurate with experience and background. Farm credit system experience a plus. Emphasis on cash flow lending and ability to analyze credits. Insurance licenses a plus with good opportunity to earn substantial premiums. Send resume and salary requirements in strict confidence to: file WBW, c/o Northwestern Banker. (PA) West Central Wisconsin bankholding company, $35 mil lion bank, has immediate opening for a degreed AG LOAN OFFICER with a minimum of three years lending experi ence. Reports to vice president of ag lending. Excellent opportunity and benefit package. Write file WBZ, c/o Northwestern Banker._______________________________ (PA) IN STALLM ENT LOAN O FFICER — Minimum 3-5 years ex perience. Dealer floor plan experience required. Contact and resume by mail only. Attn.: Personnel Dept., University Bank and Trust Co., P.O. Box 1066 Welch Ave. Station, Ames. Iowa 50010. (PA) TR U ST OFFICERS • LOAN WORKOUTS • LIQUIDATIONS • DOCUMENTATION 22 years experience in acquisitions and liquidations, write: WBX c/o, Northwestern Banker — All Replies Confidential — (PW) DON-SCH O O LER - In AND- VJ ASSOCIATES “Successful Banking is Quality Personnel" If you would like to be informed of positions as they become available and if you are interested in chang ing your present position, send your resume or phone Don Schooler, 417-882-2265, 2508 East Meadow, Springfield, Missouri 65804. Information on you will be kept confidential until you are inter ested in a specific position. Eighteen years of banking serving as President of rural and metropolitan banks enables me to match you, technically and personally, with the right bank ing environment. We need four trust officers for banks in Iowa and Kan sas. Salary ranges from $30-45,000. Experience from 3-10 years. Call or send resume to: POSITIONS CURRENTLY AVAILABLE Missouri, Iowa Oklahoma, Kansas, Arkansas, Illinois, and Nebraska Richard Beam, C.P.C. or Dorothy Minister, C.P.C. GUM BERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 402-330-3260 We are Nationwide through NPA DIRECTOR, HUMAN RESOURCES, metro bank........... ..................................................................$40,000^50,000 PRESIDENT, CEO, $15,000,000 bank........................... .......................................................... $35,000 Minimum A S S IS TA N T CO N TR O LLER , population approx. 50,000.................................................. $20,000-$25,000 PRESIDENT, New Charter............ $50,000 Minimum INSTALLM ENT, #2, large bank, over 100,000 popula tion .................................................... $25,000 Minimum CO M M ERCIAL VICE PRESIDENT, $50-$100mm Bank, ideal to w n ............................ $40,000 Minimum COMMERCIAL LENDER, $60mm bank, population approx. 35,000.................................$30,000 Minimum HEAD CASHIER, $35mm bank, high growth area . . . .......................................................... $25,000 Minimum PRESIDENT, $40mm bank, small town, excellent benefits......................... .................. $40,000 Minimuih SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 AG BANKING POSITIONS AVAILABLE AG DEPT. HEAD needed in $70MM central Iowa bank. Requires 10 yrs. experience in Iowa bank, B.S. in Agri culture, and ability to handle over $10MM ag loans. $35,000 -$40,000. JR. AG LOAN O FFICER ... Share responsibility for $8MM in ag loans in major holding company bank in northern Iowa. Must have two years experience in bank or PCA, plus college degree. $18,000 - $22,000. Call Jean or Linda to discuss these and other career opportunities available. Your information is CO N FI DENTIAL and will not be divulged without your prior consent. Fees paid by employer. Call or send resumes to: Jean 515/263-9598 (T/W/F) 712/779-3567 (M/TH) Massena, Iowa 50853 Linda 515/394-5827 New Hampton, la. 50659 aori CAREERS, INC. J AG BANKING SPECIALISTS POSITIONS AVAILABLE PRESIDENT - $30MM community bank. Requires ag and commercial lending background.................................. $Open COMMERCIAL LOAN - $100MM + bank with growth poten tial. Need five yrs. or more commi, lending and good busi ness development skills.................................................... $35K JR. COM M ERCIAL LOAN - background in instai, credit, with some exposure to commercial lending for $25MM bank.......................................................................................$25K SR. AGRILOAN - responsibility for all agricredits in $40MM rural bank. Opportunity for promotion to EVP............... $38K Additional opportunities available in midwestern states for experienced bankers. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 13 No. 18 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fif teenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 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
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