Full text of The Northwestern Banker : August 25, 1969, No. 1179

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Oldest Financial Journal Serving The Central and Western States
Augno! 25, 1969

Des Moines, Iowa

No. 1179

Bank Advertising Totals $331 Million
Commercial banks are spending
an estimated $331 million on ad­
vertising in 1969, according to
the 24th Annual Bank Advertising
Survey of The American Bankers
Association.
This is an increase of 10% over
the $300 million they spent in
1968, and six times as much as
they were spending 10 years ago.
The results are based on re­
sponses from 2,491 banks to an
ABA questionnaire covering vari­
ous aspects of their advertising
programs. This study was de­
signed to produce results statis­
tically
representative
of
the
nation’ s commercial banks.
Ninety-six per cent of all banks
are advertising their services this
year. As usual, newspapers are

Number
o f banks
responding

Deposits
(in millions
of dollars)

Under $1.0
$1.0 to $1.9
$2.0 to.$4.9
$5.0 to $9.9
$10.0 to $24.9
$25.0 to $49.9
$50.0 to $99.9
$100.0 to $499.9
$500.0 and over
TOTAL

Number
o f banks
in U.S.

32
177
614
637
569
199
93
101
69

308
1,249
3,652
3,419
2,957
1,027
467
386
109

2,491

13,574

the most popular medium. Almost
$80 million, one-fourth of all bank
advertising dollars, is being spent
on newspaper ads.
Other media in the order of
volume of expenditures are tele­
vision, radio, billboards, direct
mail, printed material, magazines,
specialties, calendars, posters,
premiums, directories, car cards
and films.
While banks advertise an array
of their many services, a few
standbys get continuing emphasis,
the study shows. Checking ac­
counts, auto loans, savings ac­
counts, full-service banking and
bank-by-mail are the top five this
year, as they have been in recent
years.
One new feature of this year’ s
1969 Planned Advertising
Expenditures
Total
all banks

A verage
per bank*

$

910
1,140
2,570
6,060
14,480
31,650
60,030
199,900
1,091,600

$

278,000
1,428,000
9,397,000
20,726,000
42,803,000
32,499,000
28,035,000
76,867,000
118,982,000

$331,015,000

Percentage
increase
from 1968
to
1969

2.4
16.9
6.1
4.4
5.0
7.9
9.9
16.4
11.0
10.4

*Including banks that do not advertise

Yes! W e’re h ere to help you get w hat you w ant

IOWA-DES MOINES
NATIONAL BANK

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

S ixth a n d W alnut. O c s M o in e s 5 0 3 0 4 • 2 8 4 8 6 8 6
M e m b e r Federal D e p o sit In s u ra n c e C orp o ratio n

survey is a query on competition.
Answers indicate that next to
other commercial banks, savings
and loan associations are con­
sidered to be providing “ the most
competition today.”
As long as the supply lasts,
free copies of this report, entitled
‘ ‘ 1969 Bank Advertising Survey”
may be obtained by writing to
John E. Myers, advertising man­
ager, The American Bankers A s­
sociation, 90 Park Avenue, New
York, New York 10016.

FNMA Provides $10 Billion
While cries of tight money con­
tinue to be heard across the coun­
try, the Federal National Mortgage
Association has quietly stepped
up its support of the home mort­
gage market to the point where it
is today making available more
than $10 billion at an annual rate
in contracts to buy home loans.
FNMA,
the nation’ s
central
mortgage bank, has been a major
prop under the housing market
this year, and the $10 billion in
contracts represents home loans
offered in the FNMA weekly mort­
gage auction,
FNMA President Raymond H.
Lapin, in announcing on August 19
the FNMA activity, said the corpo­
ration would make available for
this week’ s auction alone, a reccord $150 million in home loan
purchase contracts.

GENE HAGEN

TOM HORN - JOHN DIEFENDORF

job for you at

security national
in sioux city
we cut
a total
is not
returns
loss is

Kennedy To Offer
Withholding Rider...
Withholding of federal taxes on
interest and dividend incom e—a pro­
posal defeated in 1962 only after an
all out fight by banks and thrift
institutions —will be proposed in the
Senate as an amendment to the House passed tax reform bill. Senate Ma­
jority Whip Edward M. Kennedy will
lead the fight for the rider.
Senate Finance Committee hearings
on the tax reform bill are scheduled
to begin September 4.
Serving notice that he will press
for a withholding amendment to the
tax measure, Sen. Kennedy claimed
that the reform can be accomplished
without imposing an excessive burden
on corporations, banks, insurance
companies and savings and loan a s ­
sociation s and others that would be
required to withhold the taxes. He
said Treasury information shows that

Christy
Armstrong

Leo
Kane

of $4 billion of such income
reported each year on tax
and that the resulting revenue
about $1 billion,

IOWA NEWS
CRYSTAL LAKE: Ronald L. Hansen
has been appointed to head the trust
department of the Manufacturers Bank
and Trust Company. Mr. Hansen has
been trust officer of the Union Bank
& Trust Company, Ottumwa, for the
last four years.
DES MOINES: At its meeting on
August 14, the Iowa Banking Board
approved the following applications
for parking lot o ffice s :
* Cedar Rapids—Guaranty Bank &
Trust, office at 169 Jacolyn
Drive, N.W.
♦Davenport—Davenport Bank& Trust,
office at Kimberley Road and
East 38th Street.
♦Sheldon—City State Bank, office
at 1026 Third Avenue.
*Waukon—Waukon State Bank, office
at 301 R ossville Road.
EVANSDALE: Erwin Nuss has been
promoted to assistant cashier of the
First National Bank. He joined the
bank in July? 1968.

Bob
Scott

‘WE HAVE WHAT YOU WANT
iii a correspondent bank’

FARLEY: ‘Cletus F. Fort man, 57, a
director of the Farley State Bank for
the past two yearsj has died at Mercy
Medical Center in Dubuque.

and sa v in g s ban k

FORT MADISON: Wayne Brasfield
has been appointed manager of the
Lee County Savings Bank’s new small
loan department. Mr. Brasfield is re-

american trust

9TH AND MAIN, DUBUQUE, IOWA
MEMBER: FOIC • FRS

CH ILES &COMPANY
MEMBER, MIDWEST STOCK EXCHANGE

412 Farm Credit Building, Omaha, Nebraska 68102
Phone 346-6677 (Area Code 402) Teletype 402 348-1040
Other Offices Located in

LINCOLN

https://fraser.stlouisfed.org Nebraska
Federal Reserve Bank of St. Louis

#
*

LEXINGTON
Nebraska

.

VERMILLION
South Dakota

turning to Fort Madison from California, where he was associated
with several financial firms sin ce
1954.

'if~ '

*

HAWARDEN:
Sale
of controlling
interest in First National Bank was
announced August 21 by Henry V is- * *
ser, president of the bank. Mr. m
V isser said present officers and
employees w ill continue in their >.
positions and he w ill continue to
serve as president.
Controlling interest was sold to
The Hawarden Banking Company. '
Principals
o f that company are /
Harold E. McCord, Denison, and
Byron Lodwick, Des Moines. Mr., b
V isser said it is expected that
both men will be elected to the
bank’ s board of directors.
Negotiation of the transaction was
conducted by Richard C. Newlin,
executive v ice president of Bank
Investors, a division of Iowa Realty :*
C o., Inc., Des Moines.
PERRY: Leon Larson, installment
loan representative with the Perry ***>
State Bank, has been elected ass is- _
tant cashier.
ROBBINS: The Iowa Banking Board
has denied applications of both the "
Iowa State Bank and Trust Company,
Center Point, and the Palo Savings
Bank, Palo, to establish office s here.
RUTHVEN:
been elected
State Bank,
ated by the
nan .

Richard Carpenter has
a director of the Ruthven
filling the vacancy cre­
death of William Bren­

SAYLORVILLE: The National Bank
of Des Moines has applied to the
Comptroller of the Currency for
permission to establish a full bank
office here.
TEEDS GROVE: Henry Harmsen, an
honorary director at the Teeds Grove
Savings Bank, died recently in a
Clinton hospital. He had been a
member of the bank’ s board of direc­
tors for over 50 years. Will H. Jargo,
v ice president and also a member of
the bank’ s board for over 50 years,
has died in the Jackson County
Hospital.

^
JW

^ ,
V*

Planning An Open House?
*
If you are seeking a special gift or
premium for your Open House, Sav­
ings Promotion or the Holiday Season, y
write to us today giving us your
requirements. We w ill be happy to
supply
your needs with quality
merchandise.
Northwestern Banker
Premium Division
306 - 15th Street
Des Moines, Iowa

its bond department has broadened its
services to include a complete bond
portfolio analysis service and has
added to its staff Donald G. Wachholz, a bond advisory specialist
formerly in the bank’ s correspondent
banking department. Mr. Wachholz has
been with the bank since 1957 and
for the past eight years has been
assigned to correspondent banking.

NEBRASKA NEWS
ALLIANCE: The University of Ne­
braska Board of Regents has approved
the establishment of a professorship
of banking in the name of former A lli­
ance banker, the late Leroy Abbott.
The newly created banking chair and
expanded course of study will be
financed by an annual gift of $10,000
to the university by the Abbott
Foundation.

WEST ST. PAUL: Application for co n ­
sent to change the location of the
main office of the Signal H ills State
Bank from 48 Signal H ills to 100 Sig­
nal Hills within West St. Paul has
been approved by the FDIC.

BANCROFT: Arthur B ailey, formerly
president of the Citizens National
Bank, has died at the age of 91. He
sold his interest in the Bancroft bank
in 1963.
ELM CREEK: Funeral services were
held recently for Ben Siebenaler, di­
rector of the Elm Creek State Bank.

ILLIN O IS NEWS

HASTINGS: The City National Bank
of Hastings has moved into its new
bank building. The new facility
features three drive-inteller windows,
along with customer parking for more
than 40 cars. Formal opening will be
held in a few weeks.

ANNAWAN: Application for consent
to change the location of the main
office of the State Bank of Annawan
from 301 West Front Street to 405
South East Street within Annawan has
been approved by the FDIC.

LINCOLN: Roger Anderson, son of
the late Governor Victor Anderson,
has been elected an associate direc­
tor of the Havelock National Bank.

BELLWOOD: The FDIC has approved
application of the Bank of Bellwood
to establish a motor facility at
218—28 South Mannheim Road here.

CHICAGO: Robert K. Quinn has been
named vice president and trust coun­
se l of LaSalle National Bank, s u c­
ceeding John P. Crean, who has
been promoted to assistant vice pres­
ident and assistant secretary.

In Northern Minnesota,

Ralph Nelson

is your Northwestern
Correspondent Banker.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Call h im at 612*330*8216

For our “ Listing Contract”
write to :
R A Y E. R E E N TS CO.
1212 Oakmont Dr.
Springfield, 111. 62704

CHICAGO: Seaway National Bank has
announced plans to double its present
banking space. The expansion w ill
include the addition of a full second
floor to its present bank building.
Construction is scheduled to begin
early next year. New facilities on the
bank’ s
present lobby level will
include 10 additional tellers’ windows
and two additional drive-in windows.

CHICAGO: The First National Bank
of Chicago has become a wholly
owned subsidiary of First Chicago
Corporation, completing the holding
company reorganization plan previ­
ously approved by the bank’ s share­
holders. The new corporation also
has applied to the Midwest Stock
Exchange for listing of its common

Jc/Rk G ross C o

MINNESOTA NEWS

MINNEAPOLIS: The First National
Bank of Minneapolis has announced

“ C O N F ID E N T IA L ”
“ PR O FESSIO N AL” SERVICE

SOUTH ST. PAUL: Mrs. Muriel R ose
has been named customer service of­
ficer for the Northwestern National
CHICAGO: The Chicago-Tokyo Bank
Bank of South St. Paul. She is the
has elected Stephen H. Okura vice
second woman in the bank’ s 72-year
president in charge of business
history to be elected an officer.
development.

ALBION:
Frank Morse, formerly
Boone-Nance County extension agent,
will join the staff of the Albion Na­
tional Bank on October 1.

MINNEAPOLIS: The Fidelity Bank
and Trust Company has installed
two new television auto tellers.

BANKS WANTED
W E H A V E A FILE OF OVER
400 “ B U Y E R S ” FOR A L L SIZES
OF B AN K S.

BANK PLANNING
Waterloo. Iowa
Department of Banks
and Bankers

Northwestern
National Bank
of Minneapolis
M ay we help you today?
MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION

Always the First to Serve You!

'ÌX

First National Bank o f Omaha

1CTH & FARNAM - OMAHA, NEBRASKA
Member Federal Deposit Insurance Corporation

struction, the bank
temporary
quarters
Madsen building.

W h en you serve you r
customers’ peak credit
dem ands, depend on
City National Bank to
serve you quickly and
efficiently.

National Bank
& Trust Company
Kansas City, Missouri
Member F.D.I.C.

stock . The reorganization plan is
su bject to approval of the Comptrol­
ler of the Currency and receipt of a
favorable tax ruling from the Internal
Revenue Service.
CARBONDALE:
The
17th annual
Illinois Bankers School will begin
September 1 on the campus of South­
ern Illinois University here. The twoweek-long sessio n is sponsored by
the Illin ois Bankers A ssociation .

SOUTH DAKOTA NEWS
CH AM BERLAIN: The Northwestern
National Bank has added two men to
its staff. They are Donald Marin, in­
surance department, and GaryB usack,
installment
loan
department.
Mr.
Marin comes from Sioux F a lls , where
he was employed by an insurance
company. Mr. Busack was formerly
employed by a retail grocery firm.
FLANDREAU:
Contracts
will
awarded sometime this month

be
for

ÇftôohrA&két
BANK

MSI6N CONSULTANTS
B W 87 PM. 1*712*2821489
SM NCCR.IOW IA SIS O I

CENTRAL

NATIONAL

construction
of the new Farmers
State Bank building, with actual con­
struction scheduled to begin this
fa ll.
LA K E PR E STO N : Community State
Bank has announced plans to merge
with Northwestern National Bank of
Sioux F a lls , subject to bank super­
visory approval. Complete details
appear in the September issue of the

Northwestern Banker.
RAPID C IT Y : Clyde J. Rasmussen
has been named a ssistant cashier at
the Rushmore State Bank. Mr. R a s­
mussen joined the bank in July. Prior
to that tim e, he was branch manager
for the Murphy Finance Company.

WYOMING NEWS
G LEN RO C K: The First National Bank
of Glenrock has installed a new
drive-up window.
G R E Y B U L L : The First National Bank
of Greybull has announced plans for
an extensive remodeling and redeco­
rating of the bank building during the
next eight months. The entire in­
terior of the bank will be changed
and a new front designed for the
building. Work is expected to start
sometime in September. During con­

BANK

AND

TRUST

M e m b e r Federal D eposit In su ra n c e C o rpo ratio n

COMPANY

will move to
in
the
Earl

COLORADO NEWS
D E N V ER : Colorado CNB Bankshares,
In c ., stockholders have approved an
increase in capital stock from one
million to three million through the
issuance of one new share of stock
for each share held in the company.
The
announcement was made by
Melvin J. Roberts, president. Colorado
CNB Bankshares, In c ., is the parent
Company for Colorado National Bank,
Northeast Colorado National Bank
and South Colorado National Bank.

WANT ADS

Rates 25 cents per word per
insertion. Minimum: 12 words.
NORTHWESTERN BANKER
306 15th St., Des M oines, Iowa
WANTED
Experienced cashier and operations
officer for $25 million bank — located
in eastern Iowa. Send resume to F ile
RIJ, c / o NORTHWESTERN BANK ER,
306 Fifteenth Street, Des M oines,
Iowa 50309.
ADVERTISING H ELPS
For
the
agricultural banker — ads,
mats, editorials and newsletters that
se ll full service banking to farmers.
Samples
available — Farm B usin ess
Council, In c ., P. O. Box F , Urbana,
Illinois 61801.
WANTED
Experienced cashier for $6 million
bank close to the Twin C ities. Send
resume to File LMB, in care of the
NORTHWESTERN B A N K E R , 306 15th S t., Des Moines, Iowa 50309.
INCREASE 1969 PROFITS
Cy Kirk and Max Roy, vice presidents
of L a S a lle National Bank, Chicago,
are prepared to a ssist you and your
bank in planning increased profits
for 1969. Whether it is an analysis of
your bond portfolio or a co st study
of your general banking se rv ic e s,
L a S a lle National Bank has the fa cil­
ities to serve your every need. Call
Cy or Max today at (Area Code 312)
7 8 2 —5200 for immediate action.

No. 1179 Northwestern Banker is published five times monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des

Digitized Moines,
for FRASER
Iowa 50309. Subscriptions 50tf per copy, $6 per year. Second c la s s postage paid at Des Moines, Iowa. Address all mail
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