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% o l. 16 No. 19 Des Moines, Iowa August 24,1987 Farmers’ Conditions Are Improving ESULTS of a Federal Reserve Bank of Minneapolis survey of rural bankers show that the pro longed decline in regional farm in come has been reversed. a Federal Reserve economist Stan ley L. Graham said that for the third straight quarter, bankers reported gains in farm income over year-earlier levels. Forty-five percent of sur v e y e d bankers in six midwestem agricultural states said second-quar ter net farm income in their area was greater than a year ago, while only 6 percent said income was lower. The Vecond-quarter improvement in farmers’ income was mainly due to: • higher prices for cattle, hogs, and sheep; • government farm subsidy pro gram s; and • lower production costs. An apparent end to the sharp sixyear decline in farmland values also helped to improve the financial con d itio n of area farmers. The overall improvement in farm income has had a positive impact on the quality of loans at rural banks. Eighty-six percent of the bankers d a id the rate of farm debt repayment was normal or rapid, compared to 56 percent a year ago. The proportion of farm customers loaned to thendebt limit declined significantly d rom a year earlier. The demand for short- and inter mediate-term farm loans weakened 0 in the second quarter. Some bankers said demand was weaker because the prolonged drop in income and land values have made farmers re luctant to assume more debt before their previous debts are paid off. The bankers account for the weaker short-term demand by citing lower production costs resulting from government land-idling pro grams. They also mention that the government now prepays farm price supports before crops are produced, so farmers needed less bank financ ing at planting time. The weakened intermediate-term demand, say some bankers, can partly be ex plained by farmers’ hesitance to in vest in farm equipment, but the bankers note that the decline may also be caused by highly competitive financing offered by the equipment suppliers. One exception was the strong de mand for long-term farm real estate loans in the second quarter. Of the bankers, 46 percent indicate greaterthan-normal demand for these loans. Some bankers think the strong de mand mainly reflects the continued shift of borrowers from the Farm Credit System to commercial banks, as well as renewed purchases of farmland. For some district bankers, the weakening of overall loan demand is cause for concern. Because rural bankers have a relative advantage in making and servicing farm loans, a permanent contraction in the pro portion of assets consisting of such loans might eventually make ag banks less profitable. Mr. Graham reported the bankers expect farm income to continue to rise in the third quarter. In addition, the bankers are optimistic about the outlook for high crop yields. Despite encouraging prospects for farm in come, the bankers expect district farmers to be cautious about in creasing spending for farm equip ment or household items in the months ahead. Rather, the bankers expect farmers to use most of thenprofits to reduce debt. The survey results are based on the late June responses of 161 bankers in rural areas of Minnesota, Montana, North Dakota, South Da kota, northwestern Wisconsin, and the Upper Peninsula of Michigan. * * * Separately, a USD A report issued August 19 said a combination of fac tors should improve 1987 gross farm income of farmers to about $151 billion. After cash expenses forecast to be about $96 billion, down from the $100.1 billion of 1986, net farm income for farmers could be a record .. p tP i ■ ip i flit t BBl ■ _____________________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Together We Can Accom plish Great Things Call Bob Louvar, MNB Correspondent Banker 319-398-4204 or Toll Free 1-800-332-5991 Strength of k E astern J ^ | o w a _ T M erchants National B ank i n Cedar Rapids. Iowa 52401 Member F D IC A BANKS OF IOWA BANK 2 Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC NORWEST BANKS Teamwork: one of the reasons we’re first in Iowa. M ark Conway Richard Pederson of about $56 billion. That figure who succeeded Willis as executive would be an eight percent jump from vice president, wrote in the A BA the $52 billion of 1986. Bankers Weekly, “ He created the Banking Leadership Conference. No A B A ’s N e w B o ard ro o m other trade association that I’m aware of can claim such an open and H o n o rs W illis A le x a n d e r successful decision-m aking pro The new boardroom at American cess.’’ Bankers Association headquarters An oil portrait of Willis Alexan in Washington, D.C., was dedicated der was commissioned for the boardformally to the memory of the late room and was unveiled at the dedi Willis W. Alexander at a ceremony cation. in the room August 5. Mr. Alexan Io w a N e w s der served as president of ABA in 1968-69 and as executive vice presi KEOKUK: Officers, directors and dent from 1969-85, when he retired. staff of Keokuk Savings Bank & He died of cancer in September, Trust Company will be holding open 1985. house receptions at the bank to pre ABA President Mark Olson, pres view the new facility just completed. ident, Security State Bank, Fergus An open house for bankers and busi Falls, Minn., reminded the audience ness guests has been scheduled for that it was Willis who conceived and Wednesday, September 16, from six executed the move of ABA head to eight p.m. in the new building at quarters from New York to the na 501 Main Street. tion’s capital. Donald G. Ogilvie, WATERLOO: Gerald Gross, presi For Professional Correspondent Service Call 1-800-622-7262 ThereJs A Difference In Banks... Valley National Bank ft Main Office - Sixth and Walnut DES MOINES, IOWA 50304 A BANKS OF IOWA BANK Member FDIC JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President dent of Kirk Gross Company since 1971, recently announced that he has assumed the duties of chairman # of the board, and Robert Buckley will become the company’s presi dent. Mr. Buckley has been with the company since 1979 and has held positions of sales representative and • sales manager. WATERLOO: A t Peoples Bank and Trust of Waterloo, Jerry K. Tack has joined the staff as vice president £ in charge of commercial loans. He previously served as a vice president at Hawkeye Bank and Trust in Mason City. He was also the capital lending officer at Norwest Bank and £ a lending officer at Farm Credit Sys tem in Mason City. N e b ra s k a N e w s SCHUYLER: Ronald J. Krejci has ft resigned as president and chief ex ecutive officer of Schuyler State Bank & Trust Company. He and a group of investors have acquired the First State Bank of Hickman, where ft he will be chairman of the board and CEO. M in n e s o ta N e w s The Minnesota Bankers Associa tion Nominating Committee met on August 6 and made recommenda tions for M BA officer nominees for 1988-89. They are: President—A. William Sands, chairman, Western Bank, St. Paul; First Vice Presi dent—James H. Hearon, III, chair man, National City Bank, Minnea polis; Second Vice President— Micheál L. Lillehaugen, president, Community State Bank, Alexan dria, and Treasurer—Martin V. Chorzempa, president, Richfield Bank & Trust Company. Recommendations will be acted upon at each of the nine M BA District Meet ings in September. We Can Help With Your Employment Needs! DO N -SC H O O LER Ir AND- m V)ASSOCIATES "Successful Banking is Quality Personnel" Our firm specializes in officer personnel for midwestern banks. We provide person nel searches for outstate banks as well as metropolitan banks; independent banks and holding company banks; and banks of any asset size. Our candidate base in cludes Presidents, Senior Management Officers, General and Specialized Lenders, Operations Personnel, Support Personnel, Marketing Personnel, and Trust Officers. Experience levels range from early career through fully seasoned banker. Can didates primarily represent the following states: Arkansas, Colorado, Illinois, Iowa, Kansas, Missouri, Nebraska, Oklahoma and Texas. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 417-882-2265 2272 E. Sunshine Springfield, MO 65804 S pecialists in Bank R ecruiting and Consulting Since 1971 □avid L. Hansen, CCP HAMILTON ASSOCIATES 1Q0 Court Ave., Suite 3 0 6 Des Moines, Iowa 5 0 3 0 9 51 5/2 8 2 -0 2 2 1 ^ £ 0 # Some special candidates from Robert Half's Banking Division • Partial list o f available Banking candidates. JR AG OFFICER. Professional image, understands farming and what is happening in ag marketplace. Degreed, has spent last 3 years in 1,000 person town as loan officer in small bank. Likes environment but seeks upward mobility. $22K PRESIDENT. Troubleshooter who can keep new business coming in the door. A stickler for detail, this accomplished professional has been cleaning up community bank and putting on quality loans over past 4 years. Well trained in all areas of rural banking including investments, operations and mgt. K $42K • SR COMML OFFICER. Excellent credentials. Over 12 years of progressive lending experience. Strong documentation, credit analysis and business development skills. Proficient at developing, structuring and servicing credits from medium sized to $45M in annual sales. Results oriented manager. $55K TRUST OFFICER. CPA/JD. Well-informed individual who has been working with an excellent dept over the past 2 yrs. Prior to that was employed by big 8 acct. firm. Conscientious and capable in all areas of trust with emphasis on employee personal trusts. $26K ^5 R VP AG. No-nonsense executive with 14 years of ever-increasing responsibility in ag banks. Delegates lesser chores, knows when to motivate for increased work and represents management well. Overseeing a $25M portfolio as well as a branch bank. Has commercial and real estate exp. $48K ^CONSUMER LOAN OFFICER. Do it now philosophy and excellent follow-through have helped this accomplished lender become one of the best business developers in the area. Trained in a finance company, experienced in all types of bank loans, this hardworker is especially skilled in the installment area. $24K ^COMMERCIAL LENDER. Accustomed to hectic pace. Currently has $12M in commercial loans w /last 3 years in growing dept. 70% of time spent in business development working w/companies of 10-15M in sales. Team player who enjoys a challenge. $30K a ^ REAL ESTATE. Enjoys county seat or smaller communities. Revamped an ag/real estate dept in $35M bank reducing staff and increasing loans. Has a knack for getting the most out of his subordinates and takes pride in work. Degree, bank examining exp. $37K VP. Mgr with technical efficiency. Can get the job done! Spent last 3 years as #2 in a $45M ind bank overseeing lending and operations. $36K CH. AG LOAN OFFICER. Dependable, leader who can make bank more profitable. Perfect back-up for skilled but overworked president. 7 years of steadily increasing responsibility in healthy ag bank. Will keep work flowing even in turnaround time. $30K ^PRESIDENT. Has run banks of $17M and $22M. Tremendous worker who can handle any situation. Degreed, mobile and ready to work for you. Great references. $40K # A G LOAN OFFICER. Top notch image. Small town ag lender w /3 years in one of the state’s best banks seeks new opportunity to challenge and grow. Working w/portfolio of $5M in very conservative environment. Good hands-on person. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PARTIAL LISTING OF AVAILABLE BANKING CANDIDATES AG VP. Degreed 10 + years exp., supervise 6, insurance licenses. Seeks # 2 or 3 position in ag oriented bank for smaller com m unity $35K AG OPS. Well trained ag specialist knows FmHA, now crop and feed lending. 4 year degree, strong work ethic. $24K • CONSUMER LENDER. Dynamic achiever w/good leadership abilities, bank training and excellent attitude. Seeks challenge and diverse environment. Loves to sell. $21K PRESIDENT. Unusual capacity for problem solving and profit making. Bank has performed well under leadership with little d e l# problem. $43 K COMM’L LENDER. Goal oriented lender. 10 years in holding co environment working large credit lines. Mgr. experience plus polished image. • $38K EMPL BENS OFFICER. Aggressive, knowledgeable, respected trust officer who has well rounded background including sales skills and technical know-how in fast growing profit center. $34# AG LENDER. Guided $10M loan portfolio through tough times. Now seeking new opportunity. Past exp includes all areas of ag lending in rural bank. $27K VP OPERATIONS. Versatile performer who gets things done. Trained in strong holding company environment and developed in healthy independent bank, this efficient manager has what it takes to make a difference in the performance of your organization. $40K SR RETAIL. Reliable retail lender has run metro area branch and developed healthy portfolio. Supervised all phases of branch b a n lr while focusing on the upscale sector. Portfolio consists of floor plans, small commercial and real estate loans. $35K MORTGAGE LENDER. Instant income. This proven professional has averaged over $300K in fees generated in each of the past ^ years. Excellent people skills with attention to quality. Builds business relationships very quickly. Family and community oriented. ® $38K FOR FURTHER INFORMATION ON THESE CANDIDATES CONTACT KURT ROSENCRANTS ROBERT HALF 317-6TH AVENUE, STE. 650 DES MOINES, IA 50309 , (515) 244-4414 W O R L D ’S LA R G EST BA NK IN G , A C C O U N TIN G , A N D EDP P LA C E M E N T SP E C IA LIS TS W E A LSO HAVE TE M P O R A R Y B A NK IN G P R O FESS IO N A LS • WE HAVE BANKING SPECIALISTS WHO ARE READY TO GO TO WORK FOR YOU NOW. CALL US TODAY. IT DOESN’T MATTER WHERE YOU ARE LOCATED OR WHERE YOU WANT OUR SPECIALIST TO WORK. OUR PROS ARE READY TO GO. a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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 BANKERS PROBLEMS WITH YOUR BAN K’S BON D? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE 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 ' 3 FirsTier Correspondent Services More of what it takes to serve you well. F irs T ie r B an ks Lincoln FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC MINNEAPOLIS: Norwest Techni cal Services, Inc., a subsidiary of Norwest Corp., has announced it has consolidated three of its technology units into a new sales, marketing and delivery organization called Norwest Technical Services Sales & Marketing. John A. Sikkink, senior fa c e president and a 25-year Nor west veteran, has been named man ager of the new division. The three units consolidated are Norwest Elec tronic Delivery Services (NEDS), Correspondent Data Processing and Cash Letter Sales. Four new vice presidents have been assigned to the division. David Gibb, Dallas, will join Norwest as director of tech n o lo g y sales. Phillip J. Benson will be director of marketing. Albert Lewison will be director of off-pre mise bank products. Susan Schoeneberger will be director of NEDS Operations, customer service and systems staff. The latter three are being promoted from within the Norwest organization. MINNEAPOLIS: First Bank Sys te m has announced that Dennis Dills will be joining First Trust Company as senior vice president and head of the trust operations group. He comes from First Wacho v ia , where he managed trust opera tions since 1980. PRIOR LAKE: Dennis H. Hanson has been named president of First J*iational Bank of Prior Lake. Before jo in in g the bank, Mr. Hanson was executive vice president of First Na tional Bank and Trust Company of Baraboo, Wis., and prior to that was ^ /ice president of Brenton National ®Bank in Grinnell, la. ST. PAUL: John P. Seidel has been promoted to assistant vice presi dent-correspondent banking at American National Bank. He joined the bank as a credit analyst in 1983, and was promoted to correspondent banking officer in 1985. Illin o is N e w s CHICAGO: Kevin W. Davis has joined Financial Shares Corporation as executive vice president and man ager of the training and develop ment services division. He previous ly served as vice president and direc tor of marketing, training and sales at Mid-State Bank, Altoona, Pa. C o lo ra d o N e w s DENVER: Robert G. Baker has joined Colorado National B a n k Exchange as executive vice presi dent and chief operating officer. He began his banking career with the former Colorado Springs National Bank in 1964. He held various posi tions there until his election to presi dent in 1985. The bank was acquired by and merged with United Bank of Colorado Springs that year. DENVER: William K. Soldan has been elected president, chairman and CEO of United Bank of Arapa hoe. He previously served as execu tive vice president of United Bank of Littleton. N o rth D a k o ta N e w s The North Dakota Bankers Asso ciation will sponsor an Internal Audit Seminar on Sept. 15 and 16 at BANKING smm quality service by experienced professionals Confidential. Fees Paid by Employer. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • Omaha “ THE RIGHT FIT” Banking Placem ent Specialist For Your Staff: □ Top Professional Bankers who are confidentially screened to find “The Right Fit” □ We recruit nationally through our over 200 independent affiliates as well as locally for our clients □ Contingency or Retainer Fee arrange ments □ Contact Sue Lundquist or Mel Hansen, CPC Banking Specialists ELLS Ells Personnel Systems 1129 Plymouth Building Minneapolis, MN 55402 612-333-1131 CELEBRATING OUR 75th ANNIVERSARY BY SERVING OUR BANKING CLIENTS WELL! the Doublewood/Ramada Inn in Bis marck. The first day’s program is di rected to banks without an internal audit position or with limited experi ence. Registration and lunch is at 12:00 p.m. and the seminar from 1:00 to 5:00. The second day’s ses sion is recommended for banks with two or more years of experience in internal audit. Breakfast will be at 8:00 a.m., with sessions from 8:30 to 11:15, followed by a panel presenta tion until noon. Before Sept. 1, cost for either session is $60. After that date it is $75. Register through the NDBA office. "Professional assistance in hiring and career advancement" Jean Eden 515-276-1151 525 Merle Hay Tower Sandi G a m e r 515-832-1258 T/W /F 276-1253 M / T H Des Moines, Iowa 50310 • 515-276-1151 POSITIONS AVAILABLE PO SITIO N AVAILABLE JUNIOR AG LENDER with strong ag credit training and lending skills needed for progressive $90mm Iowa bank. ........................................................................... To $23,000 FARM MANAGEMENT/AG LENDER—Excellent opportuni ty to manage and further develop farm management de partment. $60mm Iowa bank............................... To $28,000 EXECUTIVE VICE PRESIDENT $34MM Bank located in beautiful resort area. Oversee the day to day function of bank. Send resume to File No. WJY c/o Northwestern Banker. (PA) Newly acquired $34MM bank seeks AG/COMMERCIAL lender. Looking for a community minded individual for business development. For a confidential interview send resume to File No. WJZ c/o Northwestern Banker. (PA) REAL ESTATE LENDER—Illinois bank needs an experi enced banker with knowledge of secondary marketing. ........................................................................... To $25,000 Six bank holding company seeks SENIOR LENDER to oversee the entire lending function. Salary commensurate with experience. Send resume to File No. WKA c/o North western Banker. (PA) TRUST OFFICER—Profitable financial group needs an ex perienced Employee Benefits Officer to provide leadership and serve as consultant for their member banks. Requires a blend of technical and business development skills. ........... ...............................................................To $45,000 Combined FARMMANAGER/AG LOANOFFICER 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) F in a n c ia l C a re e rs , Inc. Two Ruan Center/Suite 1000, Des Moines, IA 50309 515/245-3786 Employer pays fee. 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) Please contact Lorraine Lear or Malcolm Freeland con cerning these and other Midwest banking opportunities. 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) POSITIONS AVAILABLE 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. Send resume to File No. WKG c/o Northwestern Banker. (PA) PRESIDENT Are you ready to get into the passing lane? Clean $50mm bank in progressive Southern MN community seeks a top professional with over 10 years in commercial banking. Must be degreed with proven management abilities. Part of a high performance bank group. Terrific oppty! To$60K. Job #NW2154. SENIOR LOAN OFFICER needed for$95MM SE Iowa bank. Individual must have lending experience and be strong in credit analysis. Send resume to File No. WKH c/o North western Banker. (PA) AUDITOR Seasoned COMMERCIAUREAL ESTATE LENDER with analytical & management experience for expanding $25MM bank located in major metropolitan area in the Do you like the great outdoors that Western Montana has to offer? Our client is looking for an organized self starter to streamline the auditing functions of two banks. Must have accounting degree with 3 + years internal audit. To$35K. Job #NW2157. AG LENDER Do consolidation efforts have you frustrated? Ready for a new challenge? A $25mm bank in central Wl seeks a strong lender with 2 + years ag lending exp. Knowledge of dairy a plus. To$25K. Job#NW2158. FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR JEAN TODD RECENT AMERICAN INSTITUTE OF BUSINESS GRADU ATE 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) fIltfftlOF ROBERT HALF MINNESOTA,M C. R M COL. GORDON E. TAYLOR Box 949 - Mason City, la. 50401 m z L — 515/423-5242 i PMs-* W ÊÊFI Professional Auctioneer Real Estate Broker and Appraiser ® 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID Estate Appraisals POSITIONS AVAILABLE Purchase of Collections A G B A N K IN G PERSONNEL Sale o f Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest Ben E. Marlenee Coins 913 Locust Des M oines, Iowa 50309 515-243-8064 • • • • • Specialists in ag-oriented bankers. Experts in personnel since 1968. Serving Iowa and the Midwest. Professional and confidential. Employer retained. COMML LOAN - $50MM suburban bank with excellent growth and earnings history. Handle majority of commer cial credits. Report directly to President. $38K CEO - suburban de novo bank. Experience as CEO or COO required. Strong commercial loan and business develop ment skills desired. Open 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 aqricareers, inc . COMML LOAN - $100MM community bank. Supervise com mercial lending function. Future advancement possible. $45K 515-394-5827 New Hampton, IA 50659 TOM HAGAN & ASSOCIATES J AG BANKING PERSONNEL SPECIALISTS 712-779-3567 Massena, IA 50853 Additional positions available in midwestern states for experienced bankers. 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Voi. 16 No. T9 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.,FRASER #201, Des Moines, Iowa 50309. Digitized for https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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