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August 23,1982 Des Moines, Iowa Vol. 11 No. 18 C SBS President Says: States Are Better at Banking Reform I N H IS President’s Page message _ in a recent issue of The Super visor, Michael D. Edwards, presi dent of the Conference of State Bank Supervisors and supervisor of banks in the State of Washington, makes some interesting points. F ir s t, he quotes Dr. Car ter Golembe, a very knowledge able, astute ob server of the banking scene for the past two decades, refer ring to a recent address by Dr. G o lem b e in M.D.EDWARDS which the point wasmade that McFadden and Glass-Steagall Acts “will still be on the books 100 years from now, but the regulators will have cut the hearts out of them.” Dr. Golembe traces this subtle emasculation to gradualchanges made by federal regulators since the late 1950s, laying the groundwork for continuing regulatory changes that will eventually by-pass those two Acts. Mr. Edwards then states, “Dr. Golembe, however, misses one ma jor point in his provocative address. Where he sees the federal regulators as the primary focus of change, the record shows that it has been the states which have led the way. The facts are clear. The states have ac cepted the challenge of change, even where the federal government—in cluding regulators—have not.” He credits some federal regulators with fostering change, but points to DIDC as anything but a hot bed of reform. Mr. Edwards states further, “The dynamic interaction between states, and within states between various industries, is leading us to reform of the system far more rapidly than Congressional action—or inaction— might suggest possible. Why is this occurring? And why is this, in my view, the best approach? I offer three points to consider: “ 1. The states are more flexible and can move a great deal faster. We are bound, as is the national legis lature, to consider the needs and desires of all our constituencies, but on the state level these are more homogeneous, smaller, easier to bring together for a common pur pose. Moreover the layers of bur eaucracy, which constitute the fed eral government and Congress alike, are fewer at the state level. We can, in emergency, move from concept to legislation with great speed—wit ness the recent eight-day period in which Minnesota moved from idea to legislation, permitting the merger of that state’s failing savings bank under new authority. “ 2. The states can and do pay at tention to local needs, local desires, local economies. We can and do handcraft systems which fit our local patterns of life, our local capabilities. The needs of Maine dif fer from my home state of Washing to n ...L e g is la tio n developed in Washington, D.C., on the other hand, must fit all states within the same Procrustian bed—often to the discomfort of all of us. “ 3. The states provide what I call the ‘laboratory principle.’ That is, a new concept, a new idea, can be test ed in one or more states, then if it is good, it proliferates around the country. Congressional action—even is they consider it a ‘laboratory te st’—usually applies to everyone. Thus, the bad idea captures every one, whereas with state action only our citizens suffer. “What I would urge is a national recognition of the massive role the states can play in revitalization of the financial services structure, and our willingness to act, demonstrated in state after state. Eliminate fed eral interference—on both the regu latory and legislative sides... “Dr. Golembe is right when he says action is coming regardless of the current shape of national law. But the vehicle for change is in place right now—the states. What we ASK JOHN MANGOLD to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis is i A BANKS OF IOWA BANK Team w ork: One of the reasons we’re first in Iowa. Bob Buenneke Terri Stearn Note Departm ent An Affiliate o f Northwest Bancorporation D A N u l^ M em ber f d ic Call (515) 245-3131 or toll-free (800) 362-2514 need is a new charter for the states, Inc., insurance subsidiary in Mil one which accepts us as partners, waukee for the past one and one-half and which gives us what partners years. deserve—the right to act in the best EA RLY: With the approval of the interests of our own citizens. ’’ □ Federal Reserve Bank of Chicago, Early Bankshares, Inc., recently Iowa News completed the purchase of over 93% ALLISON: The Federal Reserve of the common stock of the Early Board has approved Hawkeye Ban- Savings Bank. There will be no corporation’s bid for the State Bank changes in bank management. Prin of Allison, with completion of the ac cipal stockholders of Early Bankquisition expected by the end of Sep shares, Inc. are Donald W. Kelley, tember. Terms of the acquisition, Carol Ann Kelley, Frank L. Scott which is in exchange for Hawkeye’s and Ruth Ann Scott. common stock, were not disclosed. State Bank of Allison has assets of NEWTON: Jerome L. Ballard has more than $22 million and becomes been named vice president of sales, a Hawkeye’s 32nd bank. new position, and Judy A. McCarville has joined Jasper County Sav D ES M OINES: Lyle W. Hulke, ings Bank as vice president and George Montgomery and Jam es E. cashier. Fletcher have recently joined West Des Moines State Bank as vice pres OTTUMWA: A new, two-story addi idents. Mr. Hulke, who formerly was tion to the South Ottumwa Savings a vice president at Bankers Trust in Bank was officially opened last Des Moines, joins W est Bank from weekend with open house observan First Westside Bank, Omaha, Neb. ces for area bankers and for the Mr. Fletcher previously was a vice general public. The addition pro president at Brenton National vides more office space and lobby Bank, Des Moines. Mr. Montgom area on the first floor, and a con ery formerly was a vice president ference room and a large expansion and member of the board of First area on the second floor. Federal State Bank of Des Moines. ROCKWELL CITY: The Federal D E S M OINES: Timothy E . Bird Reserve Bank of Chicago has an has been named president of Bren nounced approval of the application ton Insurance Services, Inc., a whol of Union-Calhoun Investm ents, ly owned subsidiary of Brenton Ltd., Rockwell City, to become a Bank, Inc. Mr. Bird has managed bank holding company through the the Wisconsin office of a Teledyne, acquisition of Union State Bank. Single System Banking With Availability Availability of funds. . . availability of people. . . responsive to your needs. National Bank of Waterloo Waterloo, Iowa 50704 Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P h o n e M ilt H e n n ic k a t 1 - 8 0 0 -7 7 2 -2 4 1 1 . SIO U X CITY: Robert A. Peterson has been named senior vice presi dent in charge of asset management of Security National Bank. In this newly created position, Mr. Peter son will be responsible for the com mercial banking, correspondent banking and investment divisions. In other changes, William O. Wogstad has been promoted to head of the investment division. Stephen Hatz will continue to be responsible for the correspondent bank division and Robert Krumwiede will continue to head the commercial banking division. Nebraska News The National Association of Bank Women, Mid Plains Group, will host it ’s annual membership meeting at the Merry-Go-Round Lounge, Ramada Inn - Airport, Omaha, on Tuesday, August 24. Guests and prospective members will enjoy a social hour of wine and cheese at 5:30 p.m., followed by an introduction to the NABW, it’s purpose and goals for the coming year. * * * The Nebraska Bankers Associa tion’s Agricultural Credit Conference scheduled for September 9-10 will be held at the Villager Motor Inn, Lincoln. The conference sche dule follows: % w ® % • w £ A.M. Thursday, September 9 11:00 Registration Round-Up. Noon Lunch/speaker—Tom O s borne, Lincoln. ® P .M . f 1:30 “ Predictions for the Ag Econom y’’—M ark Drabenstott, Federal Reserve Bank, Kansas City, Mo. 2:30 “Market to Market’’—Chet Randolph, Des Moines, la. 3:30 “E state Planning for Ag Cus tomers”—Jim Hewitt, moder ator. 5:00 Round-Up barbeque and reception. 7:30 State Fair concert by “Ala bama.” A.M. Friday, September 10 8:30 “What Producers Look for from Their Banker”—Marlin Jackson, moderator. 9:30 “ A sset/Liability M anage ment for Ag Banks under a D e re g u la te d E n v iro n ment”—Jam es Brickley, ex ecutive vice president, Inter national First Bank, Dallas, Tex. 10:30 “MABSCO Ag Credit Cor- q q ® ^ ^ A w CALL ON THE “PERFORM ANCE TEA M ” where com m on transactions are handled uncomm only well. Fl RST N A TIO N A L LI N CO LN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. 0 0 0 # poration Update”—Bill Cook, president, Beatrice National, Beatrice. “ M icrocom puter A pplica tions for Ag Finance”—Neil Stadlman, vice president, Sac City State Bank, Sac City, la. Noon Lunch/speaker—Marlin Jackson, Paragould, Ark. P.M. 1:30 W o rk sh o p s —“ M icro co m puter Applications for Ag B a n k s ,” “ C o m p lian ce Forum” and “Open Forum.” 2:35 Repeat above workshops. 3:35 Adjourn. the successor bank and the main of fice will remain at 4930 - 34th Ave. in South Minneapolis. It will operate two full-service branches at the main office site of Summit Bank and at Minneapolis-St. Paul Internation al Airport main terminal building. GENEVA: Fillmore County Bank will be celebrating the completion of the remodeling and expansion of its 15 year old banking facility, with an open house August 23-28 during regular banking hours. A drawing will take place daily and a grand prize will be drawn for Saturday, Aug. 28. The new facility contains 7,200 sq. ft. all on one level. Illinois News Minnesota News 0 0 ^ ^ ^ D ETRO IT LA K ES: Stewart Turing has joined First National Bank of Detroit Lakes as vice president in charge of lending. He previously was president and managing officer of First State Bank of West Fargo, N.D. M INNEAPOLIS: Clarence E . Hill, 95, retired chairman and director of Northwestern National Bank, died Monday, August 9. Mr. Hill was em ployed by Northwestern National Bank for 42 years, serving as chair man from 1946 to 1951 and on Northwestern’s board from 1923 to 1933 and from 1944 to 1955. He also served on the board of the Federal Reserve Bank of Minneapolis. MINNEAPOLIS: Commissioner of Banks Michael J . Pint has announced his approval for the merger between Metropolitan State Bank and Sum mit Bank of Bloomington (now Met— ropolitan Bank Bloomington). Met™ ropolitan State Bank was chartered in 1959, with assets of $32,586,000 as of June 30. Summit Bank was chartered in 1971, with assets of ^ $31,052,000 and two offices as of ^ June 30. Metropolitan State will be ® https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M IN N EA PO LIS: Mark Sheffert has been elected president of First System Agencies, Inc., the insur ance services subsidiary of First Bank System, Inc., effective Sep tember 7. He succeeds Lee R. Mielke, who recently was elected pres ident and managing officer of First Bank Brainerd. ROCK CITY: Funeral services were recently held for Charles Roger (Rod) Doty, 72, a director and for mer vice president of the Rock City Bank. Mr. Doty joined the bank in 1948 as a director, was appointed vice president in 1958 and served in that capacity unil 1971. Up until the time of his death, Mr. Doty contin ued on as an active director of the bank and a leader in the community. North Dakota News A change in speakers has been made in the program schedule for the Independent Community Banks of North Dakota annual convention September 15-16. Presenting the 1:45 talk on Sep tember 16 will be Michael D. Ed wards, president and chairman, Con ference of State Bank Supervisors, and Supervisor of Banking for the State of Washington. He replaces Joseph E . Jones. * * * The Federal Reserve Bank of Min neapolis has announced its approval of the application by State Bank of Bottineau Holding Company to be come a bank holding company through the acquisition of the State Bank of Bottineau, and Farmers & Merchants Bancshares, Inc., Beach to acquire the Farmers & Merchants Bank, Beach. FARGO: Richard H. Solberg has been elected president and chief ex ecutive officer of State Bank of Far go. Mr. Solberg started his banking career with the First National Bank in Grand Forks. In 1970 he started work at the Citizens State Bank of Finley, becoming president of that bank in 1978. Montana News Terry Bancshares, Inc., Terry, has received approval from the Board of Governors of the Federal Reserve System to become a bank holding company through the acqui sition of the State Bank of Terry. * * * September 8-10 are the dates scheduled for the Montana Bankers Association 1982 Consumer Lend ing Conference, to be held at the Sheraton Hotel in Billings. The com mittee has put together a compre hensive and instructive program designed to increase the instalment lender’s expertise. It follows: P.M. Wednesday, September 8 1:00 G olf, Pryor Creek G olf Course. 3:00 Registration until 7:30. 7:00 Reception. Dinner on own. A.M. Thursday, September 9 8:00 Registration. 9:00 Welcome and opening re m arks—Erie Gross, M BA president. 9:20 “Bankruptcy”—Sid Thomas, Trustee in Bankruptcy. 10:30 Coffee Break. 11:30 Lunch. P.M. 1:00 “Financial Statements: What Do They Really Say?”—M.L. Hanson, manager of loan analysis, United Bank of Den ver, Colo. 2:45 Breakout Sessions. 6:00 Reception. Dinner on own. A.M. Friday, September 10 7:00 Continental breakfast. 8:30 Highlights & comments from breakout sessions. 9:15 “Productivity—Is there real ly anything new?”—Lyle Sorum, vice president, training, First Bank System. 10:00 Coffee Break. 10:15 “Effectively Understanding Yourself and Your Clients”— Pat Powers, president, Man agement Technologies. 11:45 Closing remarks. 12:00 Adjourn. 4 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, Iowa 50309 Phone 515/244-8163 ________ POSITIONS AVAILABLE WANT TO BUY CEO Positions for two Upper Midwest com m unity banks . ............................................................................... To $45,000. Six (6) used Brandt sorter/counters, w ith double coin count meter system. Please call or w rite John McGrath, Miners & Merchants Bank, P.O. Box 896, Lead, South Dakota 57754. Phone: 605/584-2622. _____________________ (WTB) WANTED—Small night depository and chest. Contact Ray H artley, C itizens State Bank, Corydon, IA. Phone 515/872-1400. (WTB) Immediate opening for manager of bank insurance agency along w ith part-time banking. Located In west central Min nesota near Wlllmar. Contact Don Collins, First State Bank, Murdock, Minnesota 56271. Phone 612/875-2431.(PA) FARM AQ LENDER—7-10 years experience. Age 35 or older. Locate as senior ag loan officer. Town In Northern Iowa. Salary open. All replies confidential. W rite file QBR, c/o Northwestern Banker. (PA) Insurance Agent w ith bank experience for Nebraska bank .............................................................................. Salary open. Ag Lender for major bank in Iowa college to w n .................. .............................................................................. Salary open. Ag Lender for southern Iowa bank. Should have two or more years w ith commercial bank or Fed a g e n c y .............. .............................................................................. Salary open. What does your employees’ appear ance tell your customers about your bank? “We want to please you” or “We don’t really care?” Call us for the look of “Service” and “Success.” Ag Lenders needed by numerous other banks In a variety of locations and salary ra n g e s ........................ Salary open. Senior Internal Auditor for major banking organization in midwest. Should have CPA degree and at least tw o years e x p e rie n c e ......................................................... Salary open. MeAMoek Comptroller for bank over $150 m illio n ..........Salary open. Trust Officer for bank over $100 m illion . Salary to $30,000. CAREER APPAREL 523 N. Main St., Carroll, la., 51401 712-792-2748 | Write or call Malcolm Freeland, Freeland Financial Ser vice, Inc., 1000 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. SERVING PROFESSIONALLY FOR SALE OR LEASE SEE THE SUMMIT!!! Three-Bedroom and Two-Bedroom, tw o 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: Leasing Manager for major midwest bank . . . .To $23,000. Ag Lender for major South Dakota b a n k ........ Salary open. POSITION AVAILABLE Immediate opening in south central Nebraska. $25 m illion bank. Applicant w ill manage Installment loan department, and be responsible for compliance. W ill have opportunity to work Into commercial and agricultural loans. Send salary history w ith resume. W rite file QBQ, c/o North western Banker. _________________________ (PA) Cashier for larger com m unity bank inIowa .. .To $30,000. Modular bank, 1000 square feet, fu lly equipped w ith bank equipment and furniture. Ready for immediate delivery. Contact: Financial Products, Inc., Box 1035, Eau Claire, Wl 54702. Phone: 715/835-8160 or Des Moines 515/277-5505. (FS or L) DWAYNE SMITH Paradise Properties, P.O. Box S Dillon, Colorado 80435 Phone: 303/468-5846 Banking,Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 BANKERS AVAILABLE CEO w ith solid references and outstanding performance record at com m unity bank le v e l.................. Salary $40,000. POSITIONS AVAILABLE Senior Ag Lender, age 35, Iowa State Grad., number two man In $50 m illion bank, seeks growth situation Salary $35,000. All positions are in Missouri, Arkansas, Kansas or Oklahoma. Commercial Loan Officer, $70mm bank. $55,000 package. President, small rural bank. Correspondent, Commercial Lender. Commercial Loan Officer, $30mm bank. Ag Lender, small bank. Open President, $10mm bank. To $40,000 President, $80mm bank. T o $70,000 Controller, EVP, $70mm bank. To $50,000 Ag Lender, $60mm bank. To $30,000 Commercial & Ag Lender, #2 Man, $50mm bank. To $35,000 President, CEO, $20mm bank. Open Operations, some lending, $40mm bank. To $35,000 Commercial Loan Officer, $25mm bank. To $35,000 Eighteen years of banking serving as President of both rural and metropolitan banks enables me to find the right banking environment for you. I assure your confidentiality. Phone or send resume to: Don W. Schooler & Associates, 901 A. West Jackson, Ozark, Missouri 65721. Phone (417) 485-6020 (9am - 5pm). (417) 883-3713 (Evenings). DON-^ECHOOLER In AND! Number Two Officer, age 36, currently sr. vice president in $45 m illion bank, handles ag and commercial lo a n s .......... ........................................................................ Salary $35,000 To $30,000 To $35,000 To $35,000 Operations Officer w ith realestate and instalm ent loan background. Former examiner. Age 28. .. .Salary $24,000. Instalment Lender, age 24, currently branch mgr. of finance firm, wants bank position. Farm background Salary $18,000. (2) MCR Model 775-2100 proof machines w ith 16 pockets each. Best o ffe r. C on ta ct Dennis M cC orm ick at 612/227-8047.__________________ Steel vault 84" x 37" x 32" w ith tw o movement timelocks, w ith or w ithout Interior teller lockers. Contact: Financial Products, Inc., Box 1035, Eau Claire, Wl 54702. Phone: 715/835-8160 or in Des Moines 515/277-5505._________ (FS) 1 Diebold Walk-Up Window. 1 Burroughs S-500 Proof Machine - 2 years old. 1 Burroughs S-100 Proof Machine. Contact: Okey-Vernon First National Bank, Corning, Iowa 50841. Phone: 515/322-3101.____________ (FS) Burroughs TC-735 On-Line Terminal. Burroughs TC-1555 On-Line Terminal. Both in very good condition. Contact Linda Bodenhofer, Jackson State Bank, Maquoketa, la. Phone 319/652-2487. (FS) Ag Lender with Iowa State degree and four years experience w ith PCA and com m unity b a n k ................................... Salary $20,000 Ag Lender w ith Iowa State degree and PCA experience . . . ............................................................................ Salary $16,000 Cashier of $40 million bank, age 31, over 8 years experience ......................................................................... Salary $26,000. Branch Mgr. of eastern Iowa bank seeks new situation . . . ..................................................................................... $23,000 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 1000 Carriers Bldg., Des Moines, IA 50309. Phone 515/282-6462. Emolover Davs reasonable fee. POSITIONS AVAILABLE AGRI LOAN - $20MM rural bank seeks Ag officer w ith 3-5 yrs. experience. Advancement possible. $25,000 /ASSOCIATES "Successful Banking is Quality Personnel" (f? ) Estate Appraisals Purchase of Collections Sale of Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest Ben E . Marlenee Coins 913 L ocust D es M oines Iowa 50309 515-243-8064 , COMMERCIAL LOAN - seasoned lender w ith emphasis on commercial credits to supervise lending in $40MM Rocky Mountain area bank. $30,000 COMMERCIAL LOAN HEAD - $100MM com m unity bank w ith some Agri credits. Supervise all lenders and report directly to President. $38,000 OPERATIONS/LENDING - $30MM rural bank w ith excellent earnings record. Handle all operations and reports, plus some Ag credits. $26,000 TRUST OFFICER - country bank w ith small but active department. Bank experience and new business develop ment skills preferred. $25,000 INSURANCE - full line agency associated w ith medium size rural bank. Adm inistrative experience as important as sales ability. $25,000 To Inquire about a career change, forward resume' and salary requirements. TOM HAGAN & ASSOCIATES of Kansas City 2024 Sw ift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol 11 No. 18 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