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• Vol. 15 No. 19 August 25,1986 Des Moines, Iowa loans in surrounding states beset by the same ag and energy problems. Earlier, on July 14, the Comptrol largest of the 11 banks in the group. ler closed the First National Bank Apparently, the Oklahoma City and Trust Company of Oklahoma bank now will remain open as a City, which had assets of $1.6 billion, and the same day the Comp branch of the Tulsa bank. In addition, five major banks troller and F D IC announced a pur agreed to concessions in their $73 chase and assumption by First In million loan to BancO klahom a terstate Bancorp, Los Angeles, Corp., and this is understood to be a which re-opened the bank the follow ing day as a subsidiary named First revision in loan terms and rates. On its part, F D IC has agreed that Interstate Bank of Oklahoma City, its preferred stock will carry no divi N .A . A lso, Oklahom a National dends for the first three years. The Bank in Oklahoma City, which was a holding company will guarantee First N ational subsidiary, w as dividend payments after that on the merged in the same deal. Under the P & A , First Interstate preferred stock. It is possible, if cer tain unfavorable conditions emerge, assumed $1.5 billion in 33,000 de that F D IC could convert its pre posit accounts and other liabilities ferred stock into 99.99% of the and agreed to purchase certain of merged. On the other hand, an incen the failed bank’s loans and other tive plan encourages the holding assets for $1.2 billion. The F D IC company to pay off the F D IC as provided a negative premium of $72 quickly as possible, since tiered million to First Interstate Bank, and rates make the buy-back arrange received an issue of limited partici ment more expensive as months and pating preferred stock, with divi years go by. F D IC can sell 20% of dends based on future operating the warrants at any time, but has results of the bank. The F D IC re agreed not to sell the other 80% for a tained assets of the failed bank with a book value of $418 million. □ three-year period. Leonard J. Eaton, Jr., chairman and C E O of the holding company, Iowa News said the F D IC plan gives the Tulsa The Iow a Independent Bankers bank a ratio of 12.66% capital to as sets of $2 billion. Besides ag and will sponsor an educational meeting energy loan problems, Bank of Okla on Title Guaranty Orientation at homa, Oklahoma City N A , reported several locations in Novem ber. ly had $120 million in bank stock Space is limited and each lending in- FDIC Rescues Another Oklahoma Bank ^ • • _ ® _ ® ^ ^ ^ £ I N A N O T H E R of the “ damned if I you do, damned if you don’t ” scenarios that have been thrust upon it with unwanted regularity in the past three years, F D IC announced on August 15 an “ open bank” $130 million rescue package for Bank of Oklahoma, Oklahoma City N A . F D IC officials said this type of assistance was deemed less costly to F D IC than allowing it to fail. It was the second major bank in Oklahoma City to go under in the past month. This rescue plan was worked out in cooperation with the Comptroller of the Currency and the Federal Re serve Board. Basically, F D IC is pro viding $130 million, of which $40 million pays off the Bank of Oklahoma’s debt to the Federal Reserve Bank of Kansas City, and the re maining $90 million is a capital infu sion for which F D IC gets non-voting convertible preferred stock in the $2.5 billion asset BancOklahoma Corp. holding company in Tulsa and gets warrants to buy 55% of the common stock of the holding company for a nominal price stated to be one cent per share. This represents the stockholders’ loss in the bank. A s part of the rescue plan, Bank of Oklahoma is to be merged into the holding company’s largest bank, Bank of Oklahoma, Tulsa, N .A ., ASK TERRY MARTIN 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 Norwest Bank Des Moines, N.A. NORWEST BANKS Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC “fo am work: one of the reasons we’re first in Iowa. Tom Quinlin Jay Nichols stitution is allowed to register three staff members, the first for $25, and $5 for each additional. Fee covers the meeting, one manual and the first year participating fee in the Ti tle Guaranty Program. Locations are: Creston, Nov. 17, 8:30 a.m.; Council Bluffs, Nov. 17, 2:30 p.m.; Sioux City, Nov. 18, 8:30 a.m.; Okoboji, Nov. 18, 2:30 p.m.; M ason City, Nov. 19, 8:30 a.m.; Waterloo, Nov. 19, 2:30 p.m.; Cedar Rapids, Nov. 20, 8:30 a.m.; Davenport, Nov. 20, 8:30 a.m.; Ottumwa, Nov. 21, 8:30 a.m.; Des Moines, Nov. 21, 2:30 p.m. Contact Title Guaranty Division, Iowa Finance Authority, P.O. Box 9110, Des Moines, Iowa 50306 for a registration form. D U B U Q U E : Bernie M iller has joined Dubuque Bank & Trust Co. as vice president for business devel opment and will have responsibility for calling on correspondent banks in the area. M r. Miller has 35 years of city correspondent bank experi ence and most recently worked for smother Dubuque bank. I O W A C IT Y : John Goodenow of W all Lake, a Hawkeye Bancorporation director, and Ralph Schneider of Okoboji, a director of Security State Bank in Sheldon, have signed a contract to purchase Hawkeye State Bank of Iowa City. The bank was put up for sale to satisfy credi tors of Hawkeye Bancorporation. The purchase price was not an nounced. This is the third bank to be sold by the corporation, as it at tempts to raise up to $50 million through the sale of 17 banks and six non-bank subsidiaries. The previous banks were Hawkeye Bank & Trusts of Eldora and of Camanche. A p proval of the third sale by the Iowa State Banking Department and the F D IC is expected in two to six months. Nebraska News Enrollment has reached the 60student limit for the 1986 Profes sional Development Program Inter mediate School of Banking. Those bankers who had planned to apply may contact Pam Bartak at the Schools of Banking (402/474-3313) to be placed on a waiting list in case of cancellation. Bankers on this list will also have priority for enrollment in the 1987 School. Minnesota News The Minnesota Bankers Associa tion will conduct a tax reform tele conference in cooperation with the American Bankers Association on October 2 at the Holiday Inn in Brooklyn Center. The live video broadcast will include up-to-theminute explanation of the tax bill's impact on banks and their tax liabil ity, and it will devote special atten tion to four general areas: consumer products and lending; residential and income property real estate fi nance; commercial products and There Is A Difference In Banks... For Professional Correspondent Service Call 1-800-622-7262 H. PETER De ROSIER Vice President Valley National Bank m Main Office-Sixth and Walnut D ES MOIN ES, IOWA 50304 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS O F IOWA BANK Member FDIC speakers will include tax counsels, accountants and bankers. * # * The Minnesota Bankers Associa tion nominating committee met on August 8 and recommended the fol lowing men for 1987-88 M B A offi cers: President—James R. Jorstad, president, Citizens State Bank, Hayfield; First Vice President— A . W illiam Sands, chairman, Western Bank, St. Paul; Second Vice Presi dent—James H. Hearon, I I I , chair man, National City Bank, Minnea polis; Treasurer— R. James Gesell, president, Cherokee State Bank, St. Paul. Elections will take place at the June 1987 M B A convention. M I N N E A P O L I S : W illiam J. Raffer ty has joined the First Banks as vice president of m arketing in the Natural resources department. He previously served at B a n c T E X A S in Dallas as a vice president and de partment manager of supervised loans. Fed Lowers Rate The Federal Reserve Board low ered the discount rate to 5x/2% on August 20, the fourth reduction this year and the lowest the rate has been in nine years. The half-point drop signals the Fed’s intention to do what it can to sustain the eco nomy. The prime is expected to drop a similar one-half point to 1V%%. Since the 1920s United Missouri Bank has been advising banks on the management of their bond portfolios. These timely recommendations have a history of sound logic and a positive contribution to bank earnings. Whether short- or long-term, we expect the strategies we recommend to be successful. Why? Because we continually update ourselves about the economy, the market and changes in the banking industry. So for quality recommendations that are engineered for high performance, contact our Investment Banking Division. Call (816) 556-7200 today. • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ti UN ITO ) MISSOURI BANK of Kansas City iwu P.O. Box 226 Kansas City, Missouri 64114 Supplement to Northwestern Banker Newsletter 8-25-86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ATTENTION IOWA BANKERS PROBLEMS WITH YOUR BLANKET BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? We have been able to solve many bonding problems for bankers at the lowest possible premium. Call or Write THE KANSAS BANKERS SURETY COMPANY 435 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 1-913-234-2631 Serving bankers for more than 75 years https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 8-25-86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Send Your News Today to the NORTHWESTERN BANKER TELL US ABOUT. . . 1535 Linden Street, Suite 201 DES MOINES, IOWA 50309 Staff Changes Business Campaigns Mergers, Consolidations New Departments at the Bank Remodeling or New Building BANK .... • OFFICER CITY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TITLE STATE Open Houses Anniversary Parties Deaths or Retirements Speeches Made by Bank Officers Special Announcements to the Public https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 are as follows: Northeast— Sept. 15, A lexan d er House, P a rk River; Northwest— Sept. 16, Turtle Moun tain Lodge, Lake Metigoshe; South west— Sept. 17, Golden W est, N ew Salem (Mountain Time); South east— Sept. 18, Elks Club, Valley City. Register by Sept. 10 through the N D B A office. C H IC A G O : Joseph L. Spapperi has been named senior vice president at Am algam ated Trust and Savings Bank. H e joins the bank from Metropolitan Bank and Trust Co., Chicago, where he was president. D U R A N D : Russell P. Sarver has been named a vice president at Dur and State Bank, with duties in pub lic relations and business develop ment. H e joins the bank after serv ing 21 years at City Bank of Rock ford, where he most recently was as sistant vice president and Rockford Plaza facility manager. F A R G O : A t First Trust North D a kota, Richard J. Forest has been elected president and John M . Riley has been named chairman. Mr. Forest has been with the bank since 1967, most recently as vice presi dent and senior trust officer. M r. Riley joined the bank in 1958 and has served as president and C E O since 1978. M A H O M E T : John W . B u se y recently joined the Community Bank of Mahomet as president and CEO. H e previously served as presi dent of the Madison Park Bank in Peoria. Clyde D unbar and Steven J. Parker were elected chairman and vice chairman of the board. Wyoming News M E D I C I N E B O W : The F D IC has approved paying off insured deposi tors in Medicine B o w State Bank. The bank, with total assets of $4.6 million, was closed on A ug. 8 and the F D IC was named receiver. N o bids were received for the failed bank. Deposits totalled about $4.0 million in 900 accounts, including about $4,000 in 11 accounts that ex ceeded the federal insurance limit. North Dakota News Registration is open for the 1986 North Dakota Bankers Association Group Meetings. Programs will run from 2:30 to 5:30 p.m., with social hour at 5:30, dinner at 6:30, and ad journment at 7:45. Guest speaker will be J.N. “ Chris” Christianson of Idea Mountain, Inc., Scottsdale, Colorado News Ariz. Cost is $35 for meeting and dinner, $25 for meeting only and $15 E N G L E W O O D : Joan Adkins has for dinner only. Dates and locations joined First Interstate Bank of Inquire about FLEX-O^PAY® ■ a computerized billing/credit system CALL: 1-800-772-2411 ■ generates additional income from present staff and equipment WRITE: ■ means of increasing your local commercial business ■ plan developed by bankers for bankers LeRoy Bell The National Bank of Waterloo RO. Box 90, Waterloo, IA 50704 Applications, supervisory requests and other management services SW ORDS ASSOCIATES. INC. PR O FESSIO N A L B AN K IN G CONSULTANTS 4900 O AK S U ITE 301 K A N S A S C ITY, M O 64112 (816) 753-7440 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Englewood as vice president, cash ier and manager of operations. She formerly served as vice president/ operations administrator for First Interstate Bank of Lea County. Jan Nevers has joined the bank as vice president and manager of personal financial services. Ron James has been appointed controller. H e has been with the bank for eight years. L A K E W O O D : A t Colorado N a tional Bank— Lakewood, James M . Jorgensen and Harris M . Coe, Jr. have been appointed to the positions of vice president/commercial loan manager and assistant vice presi dent/commercial loan m anager. They joined the bank in 1985 and 1984 respectively. “One Source Reliability.” Tom Webster, Vice President Facilities Management Commercial federal Savings & Loan, One Source Reliability "Eliminating coordination problems has to save everyone!" continued Web ster. "Heritage Industries handled the building permit and some zoning changes. They did all the site work in cluding the landscaping and matched special building materials to our im age standards. Having them build it was almost a pleasure - 1 called it One Source Reliability." "Start to finish - less than three months of construction has to be some kind of record!" says Tom Web ster. Buy Direct From The Manufacturer. Complete Branch Banks, Auto Teller Island Canopies, Teller Cabinets, ATM Kiosks. CALL TODAY TO SEE HOW SIMPLE BUILDING CAN BE! HEMWBE ■ P INDUSTRIES, INC. Hiway 35 E., Wayne, NE 68787 402/375-4770 4 QUALIFIED BANKERS POSITIONS AVAILABLE CONSUMER LOAN MANAGER Ready to face the challenges of a mgmt position? MN bank offers opty to a qualified, take-charge applicant with 2 + years in consumer lending. To$30K. Job#NW8931. aqn _J careers , in c . ag BANKING PERSONNEL SPECIALISTS MANAGER COMMERCIAL LENDING 1 M1 M1 M1 Jean 712/779-3567 Massena, la. 50853 Sandl 515/394-5827 New Hampton, la. 50659 Confidential. Employer paid fees R O B K R T MSNJF 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ® ALL FEES COMPANY PAID P O S IT IO N S W A N TE D EXPERIENCED community bank CEO seeks challenging position. Experienced in all phases of banking and man agerial decisions; 14 years in banking. Currently have re stored problem bank to acceptable and salable. Excellent references. File WGQ c/o Northwestern Banker. (PW) P O S IT IO N S A V A IL A B L E JUNIOR AG CREDIT position. Ag/finance or ag/economics background with 1-2 years on job experience, some com puter skills and financial analysis training. Send resume to Norwest Bank Grafton, N.A., P.O. Box 580, Grafton, ND 58237, Attn: Ray Charlton, Pres.____________________(PA) $12M eastern Iowa bank near Iowa City has an opening for individual with experience in LOANS AND OPERATIONS. Send resume and salary requirements to File No. WGI c/o Northwestern Banker.________________________ (PA) Experienced LOAN OFFICER wanted for Eastern South Dakota bank. Send application to File No. WGD c/o North western Banker_________________________________ (PA) $55MM bank in Western Nebr. needs experienced CON SUMER LOAN OFFICER to head department. Desire min. of 3 + yrs. consumer lending exp.; a working knowledge of floor plans, student loans and compliance desirable. Salary open based upon experience & background. (PA) $10MM bank near Sioux Falls, SD wanting to expand resi dential Real Estate Department through the use of secon dary markets, needs experienced REAL ESTATE LENDER. Send resume to File No. WGR c/o Northwestern Banker. ______________________________________ (PA) EXECUTIVE VICE PRESIDENT— Expanding bank looking for individual to manage entire lending function. Opportu nity for promotion based on performance. Qualified and experienced individuals may send resume to: File No. WGM c/o Northwestern Banker. (PA) POSITIONS AVAILABLE EVP H/C bk In high growth area seeks aggressive ag lender. Must have 5 + yrs ag lending, good comm’l & w/o knowl edge. $60m + institution near metro area. Super benefits! $40K. IN-CHARGE AUDITOR Ltd travel. Aggressive, highly profitable bk h/c needs PCA or candidate for pos offering sr spot in 2-3 yrs. Exp in pri vate actg & bank audit over past 4 yrs desired. $28K. COMMERCIAL LOAN OFFICER Progressive institution desires comm'l lender who has worked w/$6m + portfolio. Strong credit analysis skills, big bank exposure & have handled credits of $150K or larger. $35K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS PRESIDENT/CEO of $40 million bank for ten years. Gradu ated from ISU in 1963. Experienced in loan workouts. Bottom-line orien ted .....................................Salary $45,000. NUMBER TWO person in $20 million bank owned by presti gious multi-bank holding company seeks new challenge where he can put his more than 20 years experience to work. Solid knowledge of both lending and operations. ISU graduate........................................... Salary $43,000-$45,000. SENIOR VICE PRESIDENT Are you ready for the #2 spot in a small bank? A steadily growing Mpls suburban bank needs you on its executive mgmt team now! Desire 5 + yrs coml/consumer lending exp, degree and strong com m unication skills. To$45K. Job #NW8932. You'll enjoy the benefits of joining one of MN top holding cos in a large affiliate bank! This position in a major MN city desires 6 + yrs heavy coml lending exp & proven busi ness development skills. HOT! To $50K. Job #NW8933. If you plan to add to your staff, please contact us for infor mation on one or more of the following quality bankers: POSITIONS AVAILABLE VP OF RESIDENTIAL MORTGAGE LENDING - Will be supervising a portfolio of 100 million in a 4 bil lion bank. Must have strong exp. in a 1 billion + bank. To $70K. COMMERCIAL MANAGERS - Need 4-5 years plus some supervisory experience. 3 positions, all in Indiana. To $55K. AG LENDER - Will be #2 in a 30 million West Iowa bank. To $32K. Ail fees are paid by our client employers. Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We’re Nationwide BANKING V.P. COMMERCIAL LOANS. One of the largest re-1 gional holding companies! 5 + yrs. commercial 8 lending. Metro b a n k ___ To $60,000 ___ Call Bruce I SR. LOAN OFFICER. One bank holding company I needs ag experience to handle $8mm loan portfolio, I as well as supervising a loan officer. #2 position in I b a n k .................... Low $30’s ......................Call Dean I V.P. LOAN ADMINISTRATION. Credit experience 1 and large bank training needed for this positive I trend bank. Some travel-excellent fu tu re ................ I .........................To $50,000 ......................... Call Mar] I INSTALLMENT LOAN OFFICER. This bank is “put-1 ting together our next generation of managers!” De-1 gree, 2 + yrs. installment lending with confident per-1 sonality. 40,000 community. Full benefits, profit I sharing.................. $ 2 5 ,0 0 0 + ................... Call Bruce I VICE PRESIDENT. LOAN ADMINISTRATION. Assist 1 subsidiary banks in a major holding company. Be a I liaison between the loan committee and subsidiary I bank presidents. Evaluation of potential problems. I Loan review background or FDIC experience.......... 1 ........................ $50,000 + ........................Call Dean I AG LENDER. 2 + yrs. experience, college degree 1 and farm background. Excellent benefit package .. I .........................To $35,000 ......................... Call Marj I AVP-COMMERCIAL. Personal portfolio of$15-20mm I includes some SBA. 2 + yrs. commercial. This pro-1 gressive holding company offers one of the best in I benefits and advancement potential ........................ 1 .........................$34-39,000 .........................Call Bruce 1 VICE PRESIDENT. Advancement potential to #21 within a year. 3 + yrs. ag lending can land you this I opportunity. Profit sharing plus full medical bene-1 f i t s ...................... $35,000+ ....................... Call Dean I AVP-COMMERCIAL LOAN OFFICER. 3 + yrs. exper-1 i ience, good credit skills and a polished professional I image for this holding company bank. Great upward I m obility.................. To $35,000 ................... Call Marj I A LOAN OFFICER/CASHIER with degree from Iowa State and eight years experience in $35 million b a n k .................. ................................................. Salary range $38,000-$40,000. VP/OPERATIONS with seven years in same $40 million bank. Graduate with B.S. in Economics . . . Salary $33,000. ^ COMMERCIAL/AG LENDER served as Executive Vice President of $65 million asset bank for multi-bank group. Raised on farm and graduated from IS U ............................... ........................................................... Salary $40,000-$43,000. LOAN REVIEW OFFICER in $175 million bank. Master’s Degree, three years experience............................................. .................................................Salary range $30,000-$32,000. $$ AG LENDER with five years banking experience and two years PCA. Solid references.................... Salary Mid $30’s. CASHIER with $50 million First Bank System bank offers both lending and operations experience . . Salary $36,000. BANK EXAMINER with four years experience and degree from ISU. Married ...........................Salary $25,000-$27,000. £ OPERATIONS OFFICER with two years banking and three years as state bank examiner background. Graduated with accounting degree ...................................Salary Low $30's. Freeland Financial Service 1010 Equitable Bldg. Das Moines, IA 50309 515/282-6462 Employer pays fee. Please contact Malcolm Freeland concerning these quali ty applicants or for other types of banking officers. Estate Appraisals Purchase of Collections Sale o f Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest Ben E. Marlenee Coins 913 L o c u s t D e s M o in e s , Io w a 50309 515-243-8064 POSITIONS AVAILABLE CASHIER • $25MM Ag Bank. Requires background with inhouse minicomputers and some knowledge of Agri Loans. $ 30 K A W PRESIDENT - Agri Bank with problem loans. Should have administrative experience and solid Agri Loan skills. $40K OPERATIONS - manage department of 35 for large urban bank. Experience with deposit accounting and account services required. $38K AGRI LOAN - community bank with large Ag portfolio. Seven yrs. or more Ag Lending experience needed. $35K £ COMMERCIAL LOAN - large suburban bank with $100MM loan portfolio. Degree and minimum 3 yrs. comml lending experience with six figure credits. $32K Additional positions available in Midwestern states. 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID (p erson n el Search 1126 So. 72nd St. Omaha, Ne. 68124 TOM HAGAN & ASSOCIATES ^ 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 ^ “ Serving the Banking Industry Since 1970” Vol. 15 No. 19 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, $18.00 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., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis £
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