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• Fourth Quarter Improvement Expected ARQUETTE Bank Minneapo lis' top economic and invest ment analysts predicted last month that the national economy should improve moderately by the fourth quarter of this year, aided by lower interest rates and accumulating in ventories. Writing in the bank's quarterly investment publication OUTLOOK, the analysts said, “ By the fourth quarter, the inventory cycle could begin working for us and we could end the year on a moderately upbeat note, somewhere in the area o f 3 to 5 percent real growth." This upswing may come too late to help retailers during the Christ mas period, according to OUT LOOK, a publication of the bank’s investment subsidiary, Marquette Capital Management Corporation. This will make for the second disap pointing Christmas season in a row. However, with inventories “ under much better control this year, markdowns should be considerably less." Recent Federal Reserve Board ac tions to increase the money supply have helped lower interest rates, with a direct and positive effect on the housing market. OUTLOOK analysts expect Chairman Paul Volcker to continue this trend. “ Although he still gives occa sional lip Service to the battle M A u g u s t 2 6 ,1 9 8 5 D e s M o in e s , Io w a V o l. 1 4 N o . 1 9 against inflation, we feel that (Volcker) recognizes a greater peril in an economic downturn than from any near-term resurgence in the rate of inflation," according to Robert C. Talbert, assistant vice president of Marquette Capital Management, writing in OUTLOOK. There are' increasing signs of danger in the nations' financial sys tem, OUTLOOK reports, though the analysts believe the industry will overcome them. OUTLOOK this quarter contains a special report by Robert DeBenedet, assistant vice president of Mar quette Capital Management, en titled, “ Banking: An Industry in Transition." Mr. DeBenedet acknowledges the spate of reports in the last year regarding the distress of some ele ments of the financial services in dustry. Bank credit is expected to increase 12 to 14 percent in 1985 after compounded growth of 12.1 percent from 1980 to 1984. The increased use of adjustable rate finance vehicles has also in creased risks for financial institu tions, OUTLOOK reports. The mortgage delinquency rate moni tored by the Mortgage Bankers As sociation set a record at 6.2 percent in the first quarter of 1985. “ All of this has occurred," OUT- LOOK reports, “ within the context of a process of financial deregulation and a significantly changed disinfla tionary economic environment. In deed it could be said that these events are related, if not causative." Nonetheless, Mr. DeBenedet re ports that the banking industry earnings and equity prices have con tinued to increase during this per iod. This period of transition, OUT LOOK reports, has been challenging for the American banking industry, but profitable. Of more immediate concern, ac cording to OUTLOOK, is the con tinuing growth of the United States trade deficit and the continuing problems in the agricultural eco nomy. The trade deficit apparently led, by year-end 1984, to the United States becoming a net debtor na tion. The October 1984 fiscal year merchandise trade deficit was ap proximately $130 billion. First quar ter 1985 figures estimate the deficit was up another 17 percent over the fourth quarter 1984, and the AprilMay figures indicate another 12 per cent increase over the first-quarter figures. OUTLOOK does not predict di saster for the United States because of the trade deficit. “ The U.S. is not on the verge of becoming another Argentina," OUTLOOK says, “ but the trend leaves a lot to be desired." ASK STAN FARMER 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 LINCOLN: James F. Nissen has been elected president of Citizens State Bank. LINCOLN: Charles Heinke has been appointed executive vice president of the Havelock Bank. He joined the bank in 1973. The drop in exports in the agricul tural economy adds to the problems in that area of the economy. OUT LOOK reports on a Nebraska ran cher who says he has lost more money in the last four years than he made in the previous 30. And land values have dropped in parts of Ne braska by 50 percent. OUTLOOK is a quarterly publica tion of Marquette Capital Manage ment Corporation, a wholly owned subsidiary of Marquette Bank Min neapolis specializing in a broad range of investment services. □ Iowa News The Agricultural Law Committee of the Iowa State Bar Association will host clinics at three locations in Iowa to address legal questions con nected with the agricultural finan cial crisis. The meetings will be held 9:00 a.m. Sept. 12 at Carroll Recrea tion Center, Carroll; 2:00 p.m. Sept. 12 at Conway Civic Center, Water loo, and 9:00 a.m. Sept. 13 at Des Moines Convention Center, Des Moines. Send registration before Sept. 6 to The Iowa State Bar Assoc., Agricultural Crisis Center, 1101 Fleming Building, Des Moines, Iowa 50309, and include one dollar to cover cost of materials. BOONE: Darlene Johnson has been named vice president of Boone State Bank & Trust Co. She will be in charge of both the commercial and installment loan departments. DUBUQUE: Michael J. McCul lough has been appointed vice presi dent, mortgage loan at Dubuque Bank and Trust Company. He join ed the bank in 1984. serving as loan officer and manager of the bank insurance agency. Nebraska News The Nebraska Bankers Associa tion will sponsor “ Marketing ’85: A Master Plan” Sept. 24-25 at the Kearney Holiday Inn. The seminar will feature two presentations, three concurrent sessions and a Personal Economics Program (PEP) Work shop. Each day’s events will begin at 8:30 a.m. with continental break fast. On Sept. 24 there will be lunch at noon, adjournment at 4:30 p.m., an area bankers reception at 6:00 and an area bankers dinner at 7:00. On Sept. 25 adjournment is at noon. Advance registration is $115 which includes all meals and materials. Cost for the reception/dinner only is $20. A t the door these costs will be $130 and $20 respectively. For more information or to register, contact the NBA office in Lincoln. * * * The N BA will present two Negotiations for Workout Loans conferences: Sept. 16-17 at the Nor folk Villa Inn and Sept. 18-19 at the Scottsbluff Inn. Speaker will be Art Pulis of Pulis & Associates, Wickenburg, Arizona. Advance registration is $120 ($150 at the door). Call the NBA office in Lincoln to register. BROKEN BOW: Paul Parliament has been named president of the Nebraska State Bank, succeeding Charles Giles, who retired after 32 years with the bank. Mr. Parliament joined the bank June 15 when he was named executive vice president. Prior to that he was president of the Broken Bow Production Credit As sociation. Mr. Giles joined the bank in 1953 and was named president in 1984. GILMAN: The Citizens Savings Bank is holding its 4th Annual Golf Outing on September 12 at Oakland GERING: Henry J. Rahmig re Acres Golf Course. signed July 31 from the presidency W ILLIAM S: A t the Williams Sav of the Gering National Bank & ings Bank, Eldon Nicholson has Trust Company. Joe Huckfeldt, been promoted to vice president and chairman of the board, has been Digitized forcashier. FRASER He joined the bank in 1967 named the new president. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OMAHA: A t the American Na tional Bank of Omaha, Lon J. Canaday has been elected vice presi dent-com m ercial loans. He joins the bank from another Omaha bank. In the past he served as a commer cial loan officer with both the Centerre Bank and the United Missouri Bank in Kansas City. RALSTON: S. John Bednar has joined the Ralston bank as vice president in commercial lending. He was formerly vice president at the Bank of Millard, where he was employed for 16 years. Minnesota News VIRGINIA: Norman H. LaPole has been elected president of the Norwest Bank Mesabi, N.A. He joined Norwest Corporation in 1961 as a bank trainee at Duluth. He joined Norwest Bank Virginia in 1977 as vice president in charge of commer cial loans and became senior vice president in 1982. North Dakota News FARGO: A t Fargo National Bank and Trust Co., Paul Sather has been promoted to vice president of the trust division. He has been a trust administrator at the bank for the past ten years. Wisconsin News MADISON: First Wisconsin Na tional Bank of Madison has elected Kristin Y. Renk to vice president. 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 Locust D es M oin es, Iowa 50309 515-243-8064 Call on the “Experienced Professionals” Ready to meet your correspondent needs. a m a She joined the bank in 1982 as a portfolio manager in the investment management division, was named an investment officer in 1983 and promoted to assistant vice president in 1984. ^ F irs t N a tio n a l L in co ln A FirsTier Bank vices, and has held various positions with the bank since 1964. SEYMOUR: Valley Bank of Sey mour has named Thom as R. DeBruin executive vice president. He has been with Valley Bancorporation for 18 years. MIDDLETON: James F. Smith has been elected president of The Bank of Middleton. He had been serving SHOREWOOD HILLS: Robert A. as both the president of The Bank of Schlicht has been elected president Shorewood Hills and the executive of The Bank of Shorewood Hills. He vice president of The Bank of Mid joined the bank in 1980, and his dleton since January, 1984. He most recent position was executive joined the Bank of Middleton in vice president. 1980. Colorado News MILWAUKEE: Kenneth Klitzke has been named the president of Edgewood Bank. He succeeds Her man Linke, who retired July 1, and who will continue to serve on the board. Mr. Klitzke was formerly vice president and senior loan officer of First W isconsin—Brookfield and also served as president of German town Marine Bank. MILWAUKEE: A t First Wisconsin National Bank of Milwaukee, Charles Hoke and Richard Hölscher have been named senior vice presidents. Mr. Hoke is director of personnel and public affairs, as well as presi dent of Elanco Investment Services, Inc., a subsidiary o f First Wisconsin Corp. He has held various positions with the bank since 1966. Mr. Höls cher heads the bank’s real estate fi nance division and the special loan group. He is president of another First Wisconsin subsidiary, RE Ser- ------------------------------------N KREJCI & ASSOCIATES • • • • • • • Collections/Loan Workouts Collateral Liquidations Loan Policy & Procedure Documentation/Compliance Bank Operations Pricing Bank Services Personnel Management Available on an interim basis. More than 19 years experience. References available on request. KREJCI AND ASSOCIATES Financial/Management Services 12605 Southdale Drive Omaha, Nebraska 68137 (402) 895-6027 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J Member. F.D.I.C. 13th & M Streets, Lincoln, NE 68501 BELMONT: C.E. “ Larry” Bennett has been promoted to vice president of Colorado National Bank—Bel mont. He joined the bank in 1978 as lending officer, having previously been with Colorado National B a n k Pueblo since 1970 where he super vised the consumer loan collection activity. He will continue to be pri marily responsible for consumer lending, collection and compliance. DENVER: A t Centred Bank of Den ver, Richard H. McElroy has been promoted to vice president of the correspondent banking division. He began his career with Central Bank of Denver in 1978, and most recently served as assistant vice president of correspondent banking. DENVER: A t First Colorado Bank & Trust, Steven G. Fobes has been promoted to executive vice presi dent. He was promoted from senior vice president after three months with the bank. He is responsible for managing the bank’s commercial lending, construction and real estate departments. Mr. Fobes joined First Colorado after 12 years with United Bank of Denver. DENVER: A t Colorado National Bank of Denver, Steve Young has been promoted to vice president. He has been with CNB for 24 years working in various positions includ ing trainee in the trust department, investment operations clerk, tax clerk and tax division manager. He currently works as trust tax division manager in the financial services area. GREELEY: Robert N. Hinderaker recently joined Cache National Bank of Greeley as vice president. He will be in charge of retail banking and marketing. He was previously associated with the First National BanCorporation/First o f Southglenn, First Colorado Bank and Trust and Affiliated Bankshares of Colorado. INVERNESS: Ernest G. Chesshir has joined Central Bank of Inver ness, N.A. as executive vice presi dent. He will be in charge of all lend ing activities at the bank. Previous ly he was senior vice president of the First National Bank and Trust Com pany of Enid, Oklahoma, where he served as head of the commercial loan department and later of asset administration. Prior to that he was a national bank examiner for the Comptroller of the Currency. F IN A N C IA L PLA C EM EN TS a division of BANK NEWS jB S b J Larry Vohs 816/421-7941 Job O penings V.P. RETAIL BANK— Iowa—$ Open V.P. COM’L—AG LOANS— Kan—$40K V.P. COM’L—AG LOANS— Kan—$36K VP SR. LENDER—Oklahoma—$40K AVP COM’L/CONS—Okla—$30K CEO/PRESIDENT— Kansas—$40K AVP COM’L LOANS— Kansas—$25K PRESIDENT/CEO— Missouri—$45K COM’L/BUS DEV REP— Iowa—$35K AVP COM’L LOANS— Kansas-$24K SVP RETAIL BANKING— Iowa—$66K EVP SR. LENDER— Oklahoma—$55K PRES/SR LENDER—Colo—$50K SVP TRUST OFFICER— Nebr-$45K PRESIDENT/CEO—Wyomi ng—$40K VP COM’URE/MKTG— Iowa—$40K TRUST/FPLN/MKTG— Kansas—$40K BOND TRADER— Nebr—$39K PERS TRUST OFFICER— Iowa—$36K ACCT’G/CONSULTANT— Ne/la—$35K COM’L LOAN O F F IC E R -N eb r—$26K AVP OPERATIONS— Kansas—$35K AGRI LOAN OFFICER— Colo—$24K OTHER POSITIONS AVAILABLE PLEASE INQUIRE If you are Interested In a career move, mall your resume In strict confi dence to FINANCIAL PLACEMENTS, P.O. Box 13786, K.C., Mo. 64199, or call 816-421-7941. Serving bankers quietly and efficiently. C A P IT A L P E R S O N N E L S E R V IC E 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 Banking Specialists GalL « 4-. , . fdJe Itite ti! Confidentiality Maintained • Employer Paid Fees Financial Careers CEO for $60 million Independent bank in midwest. Excel lent opportunity for person with good track record............ ......................................................................... Salary $65,000. SENIOR AQ OFFICER for major midwest correspondent bank. Must have ag loan experience in larger b a n k ............ ..................................................................... Salary to $42,000. INVESTMENT OFFICER for major multi-bank holding com pany. Requires experience In larger bank of $100 million or more ............................................................... Salary $50,000. POSITION AVAILABLE TRUST OFFICER for $50 million bank in eastern Iowa. Must have law degree and two or more years experience . ............................................................. Salary to $30,000. AQ LOAN OFFICER—with strong ag lending skills to work in 7 million + bank. Send resumes and salary require ments to Arnold E. Domke, Pres., Bank of Wesslngton, PO Box 165, Wesslngton, SD 57381. (PA) NUMBER TWO Officer for western Iowa bank. Requires ag lending background and all-around experience • ................ ................... ............................................... Salary to $40,000. CASHIER—$25 million Iowa State Bank, Fort Madison, seeks an Individual with 3 yrs. experience In bank operation/accountlng. Excellent opportunity. Contact James C. Sodey, President at 319(372-1134. (PA) TRUST DEPT HEAD—$60 million Boone, Iowa, bank has opening for Dept. Head for growing $4 million trust dept. Business development and administrative skills a must. Minimum 2-3 years trust experience or law degree. $24-32K. Send resume to Bob Scott, President, Boone State Bank & Trust Co., Boone, Iowa. (PA) CASHIER—$21 Million S.W. Minnesota Bank with one detached facility. Seeking an Individual to manage the en tire operation. Contact: James Q. Sneer, Farmers State Bank, Mountain Lake, MN 56159. (507) 427-2422. (PA) A R E Y O U T H IN K IN G ABOUT A CHANGE? COMMERCIAL LENDER with three or more years experi ence for $75 million bank in midwest city of 100,000.......... ..................................................................... Salary to $35,000. BARBARA J. RITTA B A N K IN G O P P O R T U N IT IE S AQ LENDER for $45 million bank in northern Missouri. Pre fer two or more years experience plus college degree ___ ...................................................... Salary to $30,000. LOAN OFFICER—Generalist with Mktg skills. $60mm IL bank, #1 rating. Salary open. Contact Barbara J. Rltta. CASHIER for southern Wisconsin community b a n k .......... ...................................................................... Salary to $35,000. AQ LENDER—$S0mm N. MO bank. Contact Barbara J. Rltta. P.O. Box 450 1010 Equitable Bldg. Dee Moines, IA 50309 515/282-6462 PROFESSIONAL RECRUITERS SR AQ OFFICER - Motivated leader with 10+ yrs ag bank ing. Highly developed credit skills and excellent problem solving abilities. Seeks oppty to excel, grow and become president of a rural bank. $45K. REAL ESTATE/COMM’L LENDER - Career directed banker with comm'l, real estate ag and Installment lending exp in charge of a $24mm + portfolio. Deg’d with strong people skills and goal setting abilities. $35K+ . CASHIER - Operations and lending exp In ag, consumer, comm’l and real estate plus mgmt of 5 + . Handled opera tions of a $18mm bank with 7 yrs of hands-on banking. $25K + . PARTIAL LIST OF AVAILABLE BANKERS FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS AT (515) 244-4414 z ft ► H1 M> r—a R O B E R T V flftU F 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID B A N K IN G SP E C IA L IS T S L E N D IN G • T R U S T • O P E R A T IO N S Serving the Entire Upper Midwest BOX 24227 • OMAHA. NEBRASKA 68124 EXECUTIVE VICE PRESIDENT Excellent opportunity for experienced banker with talent and desire to take on community Involve ment role and participation in marketing activi ties. Loans and operations experience desired. Our client Is the lead bank in a progressive Iowa community and is in a very solid financial posi tion. A stimulating challenge and attractive com pensation package will be provided. For confiden tial consideration send resume, with salary his tory to T.W. Textor. No fees, we are retained by management. _________ Personnel, Inc. 2626 Ruan Center Des Moines, IA 50309 FHA GUARANTEED LOANS Secondary market development. BANKERS AVAILABLE Employer pays fee. In Nebraska 402-397-2885 515-232-0814 405 Main Ames, Iowa 50010 D o n a l d E . H o l d e r , P r in c ip a l Please call Malcolm Freeland or Cy Kirk in care of: 1-800-225-2885 Bank Consultants Specializing in Bank Acquisitions COMMERCIAL LENDER for northern Illinois independent bank located In recreational a r e a .......... Salary to $35,000. Freeland Financial Service Full Service Banking Consultants 13625 C Str. Omaha, Nebraska 68144 Phone: 402/333-8248 cd foid sx and. c/f’i.±oaiat£.± 328K. For Professional Assistance Call R.E.B. & ASSOCIATES, INC. WANTED—A bank that needs: NCR 7750-2501 12 Pocket, NCR 7750-2201 12 Pocket, NCR 279-100 Teller, NCR 8251 Mini. Computer, NCR 9020 Mini. Computer and NCR 6420-2401 Printer. Call Bill or Bob at 308/384-5995, B.E.E. _________________________________________ (FS) AQ LENDER for $40 million bank in western Iowa. Position leads to number two person in b a n k ___ Salary to $35,000. VP/HEAD RETAIL BANKING—$250mm N. MO bank. $50K. Contact Pamela J. Swenson. Absolute Confidentiality Maintained Bankers Assisting Bankers in Their Career Path FOR SALE PAMELA J. SWENSON J A H Consulting 1426 Code Crete, NE. 68333 Phone: 402-826-2902 POSITIONS AVAILABLE V.P. AQ LOANS - $35M bank E. Nebr. 2-3 years ag loan experience, some work-out. Must have man agement potential. Will lead to CEO. 325-35K. TRUST OFFICER • E. Iowa. Head a $45 million trust department. Need 3 or more years experi ence. To $35K. AQ LENDER • N.E. Nebraska bank. 1-3 years ex perience bank or PCA. To $28K. Richard L Seem, CPC QUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport 8treet Omaha, NE 68154 Phone: 402/330-3260 Member Netlonel Personnel Associates We’re Nationwide For Prompt, Courteous, Professional Attention T o Y o u r S t a ffin g Needs, Call On Us. Diane Evans 816/842-3860 R e g e n c y RECRUITERS, INC. 1102 Grand Avenue, Kansas City, MO 64106 WANT TO BÜY USED COIN SORTER/COIN WRAPPER. Contact: D. Ledile, Ashton Bank & Trust, P.O. Box 208, Ashton, IL 61006 (815) 453-7441.____________________________________ (WTB) PO SITIO NS A V A IL A B L E COMM’L LOAN - $100MM suburban bank with aggressive new ownership. Prefer five to seven yrs. experience in sim ilar size bank. $40K COMM’L LOAN/BIZ DEV - $80M M suburban bank affiliated with major holding company. Emphasis on new business development but need solid credit background. $35K SENIOR LENDER - $150MM suburban bank with large comm’l and real estate portfolio. Second position In bank with opportunity to advance. $Open REAL ESTATE LOAN • junior position in large suburban bank. Will assume some duties in construction and comm’l real estate depts. plus handle residential loans. $23K AQRI-LOAN • $25MM community bank with 50% of loans in agri-credits. Prefer background in cattle financing. $30K Additional positions available for experienced bankers. TOM H A G A N & A SSO CIA TES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 _______ “ Serving the Banking Industry Since 1970” Vol. 14 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, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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