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A A Vol. 9 No. 18 Oes Moines, Iowa August 25,1980 you need to take to attract them? Does your bank have a plan for man agement succession and an effective U p REPARING Your Bank for acquisition? Are your offices suit program for management training? the Future” was the subject able and well located? Do you have Has your bank established a real of an address made recently by too many branches or too few? Do istic compensation program, and William M. Isaac of the Federal De you have the requisite technological does the program contain wellposit Insurance Corporation. resources? These are the kinds of designed incentives for senior man Mr. Isaac suggested five points questions that must be addressed. agement? bank executives should consider to B. Evaluate and Develop Man One of your bank’s most valuable better prepare their banks to com agerial Resources. A second major assets should be its board of direct pete in the world of tomorrow. They responsibility is to evaluate and ors. A strong board has a good pro are: develop your bank’s managerial re portion of entrepreneurs—people A. Define Your Business. First, Isources. Good, strong management who have experience in managing believe that one of the most signifi successful businesses. An effective cant responsibilities of the board of board is independent and challenges directors and top management of management’s assumptions and each bank is to define the business of conclusions. The best friend—and the institution—its mission, its pur the best protection—that manage pose, its goals. In defining your ment can have is a strong and inter bank’s business it is important to ested board that helps formulate look not only at your current cus policies and goals and participates tomers and services, but also at how in strategic decisions. Such a board they will likely evolve in the years helps management avoid serious ahead. You must decide not only the mistakes and is more likely to share kind of bank you are, but also the responsibility for the mistakes that kind of bank you are going to be. will inevitably be made. WILLIAM M. ISAAC The process of defining your C. Adopt and Require Adherence bank’s business requires strategic is the key to any bank’s future. A to Sound Operating Policies. A and long-range planning. Key exist well-managed bank, no matter what third suggestion is that top man ing and potential markets must be its size, will be able to succeed in any agement, in conjunction with the identified, and strategies and pro future environment. A poorly - board of directors, adopt and re ducts for penetrating those markets managed bank, whether large or quire adherence to sound operating must be developed. Should you con small, will be severely tested in the policies. While a bank’s customer centrate on a segment of the market years ahead. base may shift over time, and there or offer a full range of services? Does your bank have the team of may be variation in the array of Should you expand your geographic managers and experts necessary to services offered, the basic principles market? If so, should it be accomp meet the long-range goals you have of banking do not change. Adoption lished by de novo growth or by established? If not, what steps do of internal policies to guide the bank Competing in World of Tomorrow * * ^ 4- * M -M &' ~y y wr « Ì À ./ W ) ir ^ r '+ ASK JERRY TRUDO -y*. H' * * ■4 to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank isi Member F.D.I.C. hi https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A ‘BANKS OF IOWA’ BANK Iowa Banking Department for 13 W posures and asset and liability years. maturities, and to control*interestrate sensitivity. Development of an DAVENPORT: Northwest Bank & accurate and complete financial dis Trust Company will sponsor a Com closure system is necessary if the pliance Workshop September 9 at bank expects to turn to money or Jumers Castle Lodge, Bettendorf, capital markets to sustain its from 9 a.m. to 4:30 p.m. for all east growth. ern Iowa and Illinois correspondent E. Control Costs. M y final sug banks. Conducting the seminar will gestion relates to expense control. be William Keller, FDIC reveiw ex In an intensely competitive environ aminer, and other personnel from ment, the ability to identify and the Omaha regional office. Reserv control costs could be the difference ations may be obtained by calling between success and failure. Control the bank collect at 319/388-2608. of personnel and other operating ex DES MOINES: Central National penses is becoming one of manage Bank’s new Drive-In Bank located ment’s most important and difficult at the comer of Fifth and Walnut assignments. Success in this critical opened for business August 18. It area requires good information, D. Improve Accounting, Control, replaces the old Motor Bank at Fifth discipline and determination. □ Information and Disclosure Sys and Grand. A grand opening cele tems. Fourth, as your bank grows in bration is scheduled for August 29 size and complexity, it will become Fed OKs Correspondent from 10:30 a.m. to 1:30 p.m. featur increasingly important to improve Pass-Through of Reserves ing refreshments and prizes. its accounting system; its audit, The Federal Reserve Board has MAPLETON: An agreement to credit review, and other control approved guidelines, effective Oc systems; its management inform purchase the First State Bank of tober 30, that will permit non-Fed Mapleton by the Security National ation system; and its financial dis members to pass their required re Corporation, Sioux City, has been closure system. The accounting serves through Fed member corre announced by John R. Welch, First system should inform management spondent banks. The latter banks State president. The sale is subject what a service costs and how it must may commingle the funds of their be priced to earn a profit. Good to regulatory approval. correspondents who wish to use this credit review and audit systems be WINTERSET: Funeral services service, unless they are from differ come essential as the bank grows were held recently for Grover W il ent Fed districts. In that case, funds and begins to lose intimacy with its lard Mease, 60, president of the for each district must be kept sep customers and employes. The man Farmers & Merchants State Bank arate. Apparently, the funds will agement information system should pass-through the correspondent im here. provide a means for top manage Nebraska News mediately, with no residual benefit ment and the board of directors to to the correspondent. CENTRAL CITY: Gary W . W eb evaluate key personnel and business No tiering will be allowed; i.e., the ster has been named president of activities, to monitor credit excorrespondent to whom the com The Farmers National Bank of munity bank entrusts the required Central City. Mr. Webster succeeds reserves must send them directly to Terry L. Trueblood who has assum the Fed, not through another city ed the presidency of the Farmers correspondent up the line. State Bank & Trust Co. of Lexing Responsibilitiy at this time for ton. the liability in the pass-through arrangement will rest with the cor HEMINGFORD: The Bank of Hemingford held an open house in respondent. their new banking facility on C all 1-800-362-1688, toll-free in Iow a August 15. Iowa News 2 through fluctuations in the econom ic cycle is an important step that can be easily overlooked. Misplaced lending emphasis, inattention to liquidity, pursuit of growth at the expense of profit margins, and fail ure to provide adequate capital to support the bank’ s business are examples of liberties occasionally taken by banks. During good times, there is a temptation to bend the basic principles of sound banking without an assessment of the poten tial effects of materially adverse changes in the business climate. The bank’s policies and business plans should be formulated with a clear sense of the downside risks. Grow with a BANKERS’ BANKER CHARTER OAK: Two top officers of the Toy National Bank, Sioux City, have purchased the Farmers State Bank of Charter Oak. They are John Van Dyke, co-chairman, and Les Olson, president. The sale is subject to regulatory approval. The Charter Oak bank will continue to operate independently with the same personnel. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis D ANVILLE: Richard R. Reeder has joined the Danville State Sav ings Bank as vice president. Previ ously he was cashier at the West Branch State Bank for four years and served as an examiner with the LINCOLN: First National Lincoln will hold its annual Correspondent Conference September 12-13 at the Lincoln Hilton Hotel, according to Gary L. Bieck, vice president and manager of the correspondent bank division. Featured will be panel dis cussions, one covering agribusiness today, and an appearance by Tom Osborne, University of Nebraska head football coach. LINCOLN: South Ridge Bancshares, Inc. has received consent from the Federal Reserve Bank of Kansas City to become the bank holding company for South Ridge K <r' Vi S<4,'1 |e. ■* A ÿt % VI LWm £43 £ fcJ * h Carleton D. Beh Co. Supplement to Northwestern Banker Newsletter 8-25-80 Investment Bankers/Financial Consultants -4^ ;H 4, NEW ISSUE SALE DATE: August 21,1980 MOODY’S: Aa $18,000,000 S & P: AA STATE BOARD OF REGENTS OF THE STATE OF IOWA (State University of Iowa) Hospital and Clinics Hospital Revenue Bonds, Series 1980 Dated: Septemberl, 1980 4 *4 4 4 4 jPfji -j* ï» 7 Denomination: $5,000 Both principal and semiannual interest (March 1 and Septemberl, first coupon due on March 1,1981) payable at the Office of the Treasurer of the State University of Iowa, Iowa City, Iowa, or Continental Illinois National Bank & Trust Co., Chicago, Illinois. IN THE OPINION OF COUNSEL, INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES, IOWA INCOME TAXES, AND ALL PROPERTY TAXATION IN THE STATE OF IOWA MATURITIES 9.00% 8 . 00% $1,000,000 Septem berl, 1983 5.90 $1,000,000 Septemberl, 1993 8.00 1,000,000 Septem berl, 1984 6.10 8.50% 7.75% 1,000,000 Septemberl, 1994* 8.25 1,000,000 Septem berl, 1985 6.30 1,000,000 Septemberl, 1995* 8.50 1,000,000 Septemberl, 1986 6.50 8.90% 1,000,000 Septemberl, 1987 6.70 1,000,000 Septemberl, 1996* 8.70 1,000,000 Septem berl, 1988 6.90 1,000,000 Septemberl, 1997* 8.90 1,000,000 Septem berl, 1989 7.10 9.00% 1,000,000 Septem berl, 1990 7.30 1,000,000 Septemberl, 1998* 9.00 1,000,000 Septemberl, 1991 7.50 1,000,000 Septemberl, 1999* 9.00 1,000,000 Septem berl, 1992 7.75 8 .00% 1,000,000 September 1,2000* 9.20 * Bonds maturing on and after September 1, 1994, are callable at 104% if called on or before August 31 1994103% if called thereafter and on or before August 31,1995; 102% if called thereafter and on or before August 31 ’ 1996; and 101% if called thereafter. LEGALITY TO BE APPROVED BY CHAPMAN & CUTLER, ATTORNEYS, CHICAGO, ILLINOIS The State University of Iowa is located in Iowa City in the east central part of the State. The University pioneered the development of a university based medical center in the midwest. At present, it has the nation’s largest university-owned teaching hospital with 1 092 beds. The University of Iowa Hospitals and Clinics serve as the primary clinical training base for the full range of health science education programs. There are no other publicly owned health science schools in the State of Iowa. The gross income received by the hospital system at the State University of Iowa, including the proceeds of rates, fees and charges for services rendered by said hospitals, clinics, laboratories, and ancillary facilities, but excluding the proceeds of rates, fees and charges for professional services rendered by the participants of the University of Iowa College of Medicine Medical Service Plan and also excluding state appropriations to the University or the University Hospital, shall be credited upon receipt to the Hospital Revenue Fund. These bonds are being issued pursuant to Chapter 263A of the Code of Iowa which authorizes the State Board of Regents to issue its revenue bonds to make designated improvements to the system of hospitals, medical service clinics, medical service laboratories and ancillary facilities all at the State University of Iowa at Iowa City. In the opinion of counsel, these bonds are payable solely from the gross income and funds received by the hospital system at the State University of Iowa excluding state appropriations to the University or the University Hospital. -> Total Operating Revenue Total Operating Expenses Depreciation & Int. Expenses Net Operating Revenue •4 « INCOME STATEMENT Years Ended June 30 1980 1979 $105,391,342 $89,937,697 86,947,267 77,883,139 5,872,015 4,863,589 $ 12,572,060 $ 7,190,969 1978 $73,907,495 67,683,013 3,571,274 $ 2,653,208 COVERAGES (Based on Year Ended June 30,1980) Gross Revenue vs. Debt Service, Times Covered = 21.80x Net Revenue vs. Debt Service, Times Covered = 4.95 x * We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: 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 stil I be available or may now be available at a price or yield different from that indicated above. -< >■ for FRASER Digitized https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Single Svstem with NOW ACCOUNTS Now! Bank Data Processing Professionals National Bank o f W aterloo Waterloo, Iowa 50704 Member FDIC Bank. The bank has deposits of $7.3 million. NORFOLK: The DeLay First Na tional Bank & Trust Co. has in creased its capital $900,000 by a stock dividend. The surplus account was increased by $800,000 through a transfer from undivided profits. Capital and surplus as of July 1, 1980, totaled $3.6 million. B. M. DeLay, president, reports that the bank is celebrating its 50th anni versary through 1980. Minnesota News BEM IDJI: Northern National Bank of Bemidji has received consent from the Comptroller of the Cur rency to establish an office at U.S. Highway 2 West and Ridgeway Avenue here. DARFUR: Darfur Bancshares, Inc. has received consent from the Fed eral Reserve Bank of Minneapolis to become a bank holding company by acquiring the State Bank of Darfur. MINNEAPOLIS: J. Bruce Jacob son will join Central Northwestern Bank of Minneapolis as senior vice president of the lending division effective September 1. He is cur rently senior vice president of the First National Bank of Fargo, N.D. MINNEAPOLIS: Phillip D. Klone has joined Northwestern National Bank of Minneapolis as senior vice president and manager of the bank’s new central operations department. Formerly he was senior vice presi dent of operations at the Equitable Trust Company of Baltimore, Md. Iff > MINNEAPOLIS: Riverside Com Phone Bill Rickert at 1-800-772-2411. munity Bank has received consent from the state commissioner of banks to locate a detached banking facility near 48th Street and Chicago Avenue in south Minne apolis. This will be the bank’s third facility* Illinois News ELGIN: The Republic National Bank of Elgin has received charter approval from the Comptroller of the Currency. Agent for the new bank is Thomas B. Hart and the move represents a corporate reor ganization. NEWTON: First National Baneshares in Newton, Inc. has received consent from the Federal Reserve Board to become a bank holding company by acquiring the First Na tional Bank in Newton. North Dakota News The North Dakota Chapter of the Society for Range Management will sponsor an A g Lenders Range Man agement Camp September 3-5 at Medora. The NDBA ag committee has been involved with the program planning for this session and en courages attendance by North Dakota bankers. South Dakota News Group Meetings of the South Dakota Bankers Association will be held in the coming weeks as follows: Group 5—September 8, Dave’s Turgeon Club, Central City. Hotel: Best Western Motor Inn, Deadwood. Group 4—September 9, Citizens Bank, Mobridge. Hotel: Wrangler Motor Inn, Mobridge. Group 2—September 10, Holiday Inn, Watertown (meeting and hotel). Group 3—September 11, Holiday Inn, Mitchell (meeting and hotel). Group 1 —September 12, W est ward Ho Country Club, Sioux Falls. Hotel: Downtown Holiday Inn, Sioux Falls. Featured will be an economic con ditions workshop, seminar on utiliz ing your bank’s human resources, federal and state banking legislative update, group business sessions and evening entertainment. H AYTI: A1 Heggelund, president of the Hamlin County Bank here, has announced his retirement from active participation in the bank’s business. Denny Jensen, cashier, and Van Heggelund, assistant cash ier, have been named vice presi dents. Arlene Tarum, assistant cashier, has been named cashier. Montana News GREAT FALLS: Victor A. Weible will retire as vice president and busi ness development officer of the First Bank Great Falls on August 29 fol lowing a 34-year career. He joined the bank in 1946 as a teller. Wyoming News LANDER: The newly-organized Yellowstone State Bank here has been cleared for membership in the Federal Reserve System. Orval Little, president, reports that the bank should be open for business in a temporary facility by mid-Sep tember. Principals in the new bank include Mr. Little, John Pappas and John Vidakovich. TORRINGTON: An application by the North Platte Corporation here to acquire an additional 8.6% of Wyoming Bancorporation, Chey enne, has been denied by the Federal Reserve Board. North Platte, head ed by Roy Dinsdale, currently holds 4.6% of the stock in Wyoming Ban corp. If permission had been granted for the new request, North Platte would have owned 13.2% of the holding company and would have been the largest single share holder. CALL ON THE “PERFORM ANCE TEAMI” where comm on transactions are handled uncommonly well. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ■ FIRST N A TIO N A L LIN CO LN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. 3 4 PARTIAL LIST OF AVAILABLE POSITIONS AG BANKING CAREERS AG LENDING REP... Io w a ..........................$17-18,000 CREDIT M A N A G E R ...O hio........................$23-25,000 AG LENDING OFFICER... SE Minn.......... $16-18,000 LOAN OFFICER... Io w a ............................. $15-20,000 CREDIT SUPERVISOR... Ohio ..................$17-21,000 AG LOAN REP... Iowa ............................... $20-25,000 Since 1968, banks and other ag-related employers have been paying us to find the personnel they need. For more information, give Linda (our banking spec ialist) a call today. sari CAREERS, INC m J A G R IC U L T U R A L PERSONNEL R E C R U IT E R S (515)394-3145_____________New Hampton, lA 50659 W ANT ADS Rates 50 cents per word per insertion. Ad $2 for file numbers. Identity of file number advertisers cannot be revealed. Payment in advance, please. NORTHWESTERN BANKER 306-15th St., Des Moines, Iowa 50309 POSITION AVAILABLE Ag Lending Officer, with 5 to 10 years experience and ag degree (or farm background), wanted by central Illinois bank. Vice president position with real poten tial for advancement. Trust Officer needed for $16 million central Illinois bank. Second Man Position in Iowa community bank. Salary $25,000 to start. Must have ag lending experience and general operations knowledge. Audior, with CPA or bank auditor degree, wanted by $45 m illion Iowa bank. Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 Fifteenth Street, Des Moines, Iowa 50309. Phone (515)244-8163. Employer pays fee. (PA) Immediate opening for a CEO in a $10 m illion south western Minnesota rural bank. Primarily ag lending. Ag lending and operations experience essential. In surance licenses an added extra but not essential as agency is competently managed now. Send resume and salary requirements to file KBW, c /o Northwestern Banker. A ll replies strictly confidential._____ (PA) Immediate opening for a second position officer in a $13 m illion south-central Minnesota rural bank. Must have strong ag lending background with good know ledge of all bank lending and operations. Send resume and salary requirements by September 15 to M. W. Smith, Peoples State Bank, Wells, MN 56097. (PA) Individual interested primarily in commercial lending with experience in all phases of lending, including credit analysis, and substantial background in real estate mortgages. Advancement potential important. Would consider relocation. Write file KBY, cl o Northwestern Banker.___________________________ (PW) CEO in midwest community bank seeks new oppor tunity. Proven track record and top references. Prefer growing bank under $30 million. Investment optional. Instalment Loan Officers with varying degrees of experience and locations. Salary requirements from $18,000 to $25,000. Trust Officer in $100 million bank wants new position where he can use 20 solid years of management exper ience. Operations Officers with excellent experience will re locate in upper midwest. Ag Lending Officers available from $18,000 to $25,000. W rite or call Malcolm Freeland, Freeland Financial Service, Inc., 306 Fifteenth Street, Des Moines, Iowa 50309. Phone (515)244-8163. Employer pays fee. (PW) LENDING— Rural Iowa bank. Handle installment loans and collections. Also some ag lending. Must be able to work on own. $15,000. VP— Be responsible for entire loan portfolio of small ag bank. Must know lending regulations. Lending is the key to this spot; other bank experience a plus. $16,000. OPERATIONS—South Dakota bank needs operations officer. Supervise bookkeepers and tellers. W ill handle all reports. $17,000. OPERATIONS—Assistant to operations officer in large Iowa bank. Must have operations experience, be aggressive and prospect-oriented. W ill supervise 15. $23,000. EVP—#2 position in Minnesota bank. Lending is com mercial with some ag. Must have experience in all areas. Equity potential for right person. $28,000. TRUST OFFICER— Iowa bank is establishing new de partment. Must be experienced in trust area and be able to set up a department. $26,000. AG LENDER— Real opportunity for person with 2 + years experience. W ill do all ag lending for eastern Iowa bank. Bank wants person that can make decisions and operate on own initiative. $22,000. FOR MORE INFORMATION RESPOND IN CONFIDENCE TO: Bank Division ROBERT HALF of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID CAPITAL PERSONNEL SERVICE Homer Jensen — DickBuenneke 3737 Woodland Ave. Executive Suite 120 West Des Moines, Iowa50265 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 Burroughs Model No. 1010361 and 1010381 teller machines. Contact Andrew Kobs at First National Bank, Fort Dodge, Iowa50501. (515)576-6811. (FS) FOR SALE NCR 775 proof machine; 12 pockets. Maintenance will transfer. $10,900. Burroughs TR-102 electronic teller machines; 2-3 years old. Upgradable to on-line. Guaranteed. $995 each. NCR 152-70 teller machines. Completely recondition ed. Guaranteed; 15 days free trial. $695 each. NCR 490 desktop check encoders. Full-field. Guar anteed. $795 each. ______________ Call (214) 757-7760___________ (FS) 12’x40’ mobile home converted for use as temporary banking facility. Night drop and drive-up window in stalled; good teller counter. Furnace with central air; available immediately. ALSO, 6’x9’ remote drive-up building with heat and air conditioning. Call (319) 291 -5429 or (319) 291 -5468.___________________ (FS) 1974 LeFebure 6600 Spartan drive-up window. Excellent condition. Phone(712) 472-2581.________ (FS) Saxon Bond Copier. $800. Call (515) 245-7222. (FS) Mosler Teller Matic System 6000 ATM. Includes ,1,System 6000 controller, 1-System 6100 terminal. Like new. Contact B ill Mattan, Assistant Manager, (402) 292-8000. Or write SAC Federal Credit Union, Offutt AFB, Nebraska68113._______________________(FS) Burroughs T-100 encoders. Excellent condition. Call (512)250-0795.____________________ (FS) ¿J4oLd.£X a n d ¿ d liio c ia tz i Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames. Iowa 50010 D o n a l d E . H o l d e r , Principal •K SERVING PROFESSIONALLY Independent Management Services Specializing in Bank Acquisitions By Independent Investors No Broker Fees Call 515-223-1044 FOR SALE tr Banking, Financial & Business Personnel Iowa and Nationwide POSITIONS AVAILABLE CEO—Suburban Iowa bank. Positions requires previous administrative experience, de gree and solid commercial loan back ground................................................... $45,000 AGRI LOAN—Second position in ag depart ment of $85MM bank. Degree desired and three to four years lending experi ence......................................................... $20,000 OPERATIONS—$30MM suburban bank with progressive management team seeks results oriented operations officer for senior position........................................$25,000 CASHIER— Rural bank w ithin 10 miles of larger community. Position is second position with duties including ag and Installment loans........................................................$20,000 PRESIDENT— Retail oriented Rocky Mountain bank. Must have strong administrative skills and ability to handle “ work out” loans........................................................$30,000 y> % Vv EXECUTIVE VICE PRES.—$50MM bank in ex cellent rural area. Degree and five to seven years of solid ag lending experi ence......................................................... $35,000 SECOND OFFICER— Excellent opportunity with small holding company affiliate in Rocky Mountain state. Prefer commer cial and in s ta llm e n t loan back ground..................................................... $20,000 OPERATIONS— Rural bank situated in north western Missouri. Position requires some knowledge of lending pract ices.......................................................... $20,000 Many otherfine opportunities available in midwestern states for experienced bankers. Salary history and resume requested. TOM HAGAN & ASSOCIATES OF KANSAS CITY 2024 Swift / P.O. Box 12346 North Kansas City, Missouri 64116 _____________ Phone (816) 474-6874_____________ Voi. 9 No. 18 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 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 sí ÉÉ'
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