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Vol. 16 No. 16 Des Moines, Iowa August 3,1987 At Iowa Independent Bankers Convention loophole to get commercial enteiprises out of banking. “You know, s&ls can operate with one-half of 1% of net worth. In this gress, Rep. Leach said, “There are bill I inserted a paragraph in four two great scandals of the last different phrases. Wherever it says, generation. The first relates to inter ‘Thou shalt forbear,’ I added the national banks and their over- wording, ‘as required by hanking extention in foreign loans. The se regulators.’ I t ’s a simple principle. cond is the s&l scandal. On the first, If I have a certain amount of money Citicorp’s chairman is responsible I can go to California and own a for the biggest foreign aid program bank with $120 million deposits. in history due to the money his bank But, if I do the same thing as an s&l, lost in foreign lending. But they I can have $2 billion in accounts! have at least 50% of those losses Some of these state regulators have covered now. Earlier, I introduced granted broad s&l powers and legislation, with no Congressional literally said, ‘Let Washington pick support, for major banks to set aside up the insurance coverage.’ ” reserves—capital—for foreign len Responding to a question about ding. There was no support, but I whether FDIC would be expected to warned of the danger. Now, this ef bail out the FSLIC, Mr. Leach said, fort is part of current legislation in “Generally, in Congress there is no troduced.” mood to merge, but if it means tax Regarding the s&l problem, Mr. ing the public for a bailout, then the Leach said, “They have a deficit of mood would be to take it from the $25 to $ 50 billion. The current bill in FDIC. This issue supersedes all Congress means only $7.5 billion is other issues. I think you’ll see this available to apply against that defi discussed in five years. I think you cit.” bankers need to confront this issue Rep. Leach is a member of the head-on.” House Banking, Finance and Urban Affairs Committee and was assign Rep. Fred Grandy ed as a minority member to the con Mr. Grandy said his effort to ex ference committee that worked out empt banks of $5 million or under agreement on banking bill H.R.27 from the mandatory accrual ac within recent weeks. Speaking of the counting order might be successful, debate that took place in that con “or at least the compliance date ference, he stated, “I favor separa rolled back.” tion of banking and commerce and Mr. Grandy said the ag commit th a t’s why I favored cancelling the tee would mark up the FCS rescue ,Two Congressmen Discuss Banking Bills WO Iowa Republican Congress men who are closely involved T with banking bill H.R. 27 and the | Farm Credit System refinancing bill addressed the annual convention of the Iowa Independent Bankers July 24-25 at Lake Okoboji. Giving per sonal insights on these legislative iprograms were the Hon. James Leach, U.S. House of Representa tives, Iowa First District, and the Hon. Fred Grandy, U.S. House of Representatives, Iowa Sixth Dis tr ic t. Because of their close identity with discussions on these bills and other related banking measures, a summary of their remarks follows. ) Rep. Jim Leach Mr. Leach said one impact of the 1986 tax law changes would be favorable to midwest agriculture. “The estate tax treatment of farm *land is such that I believe Iowa is on the verge of an explosive value in Iowa farmland prices, and this is not all due to the two-thirds reduction in current values. There are two places 1for a farmer to put his funds—in stock and in land—and I believe you’ll see some significant pur chases of land in the future. For twothirds of our farmers the worst is over, while one-third still face some difficult times.” On another m atter before Con Q l F irs t Interstate Bank We’re setting the paceo 1 - 800 - 362-1615 B ill M u llin s https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Correspondent Services Brian Hughes Investment Services Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (300) 362-2514 Member FDIC HORWEST BANKS Yearn work: one of the reasons we're first in Iowa. Mark Conway Dorothea Wolfe plan bill during the week following his appearance—July 30, earlier th a n p lanned—because H ouse Speaker Jim Wright (D., Tex.) insis ted on a bill. After the August recess it will probably be moved along. He decried such haste, saying “it pre cludes many of us from properly having the input we should have.” He said the committee could write a bill that Congress wouldn’t pass “and th a t’s a strong possibility.” He said the policy of an FCS rescue shows that every person wants to preserve the borrower’s stock. There should be joint and several liability by way of a co-insu rance fund among the Land Banks to create an insurance fund to ac Dennis Earhart MNB Correspondent Banker Together We Can Accomplish Great Things complish such borrower protection. This would probably take five years to accumulate. Other policy state ments would include language to protect borrowers with forbearance instead of foreclosure, and a method of appeal before foreclosure. All of these things, Mr. Grandy stated, would “be contingent on creation of a new entity within the FCS. I think you can kiss their Capital Corporation goodbye. You may now see an Oversight Board or Temporary Assistance Board, with a five-year sunset, to take tempora ry custody of all monies in the Sys tem. This means Omaha would have to submit all its restructuring pro grams to such a board. We need some temporary centralization of control until we restore financial viability. Who should sit on such a board? All government officials? All FCS officials? Some farmers/ranchers? Probably some kind of combina tion. This board would sunset when the insurance fund to protect bor rower’s stock is completely funded. “Congress hasn’t made up its mind yet whether the FCA should be a regulatory body only, or have some quasi-superviSory authority.” Mr. Grandy also stated that “The secondary market is an odds-on favorite to get in the bill. Our oppo nent is Treasury, which has a nar row-minded, big city perspective. If it becomes a part of the FCS package, I ’ve been told by Treasury, it’s not enough to get the bill https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cedar Rapids. Iowa 52401 Member F 0 1C A BANKS OF IOWA BANK Iowa News Thomas H. Huston, president, Columbus Junction State Bank, was advanced to the presidency of the Iowa Independent Bankers at the I IB annual convention at Lake Oko-^ boji on July 25. He succeeds Johui Chrystal, chairman and CEO of Bankers T ru st Company, Des Moines, who was then elected vice president of I IB for the coming y e a r^ Ronald E. Fenton, president and CEO of Security Bank, Marshall town, was named to a two-year term as treasurer. Richard W. Berglund continues as executive vice presi-m dent of the association and Diane Gibbs as executive director. * * * Gary L. Hughes, vice president and cashier of Iowa Trust and Sav® ings Bank in Emmetsburg, has been named secretary of Group 12 of the Iowa Bankers Association. He fills the vacancy created by the advance ment of James L. Cuttell, presiden® of George State Bank, to chairman of Group 12, as reported in last week’s issue. The Citizens Savings Bank, Gil man. will hold its Sixth Annual Golf A Meeting O f The M inas. At Security National Bank, our minds are on meeting all your Correspondent Banking and Investment needs. We’re Security for you! Call 319-398-4789 or toll free 1-800-332-5991 Strength of Eastern |owa Merchants National Bank m vetoed. Who will control the secon dary market board? My guess is not the FCS because in the eyes of Con-® gress their credibility has suffered and certainly has not been enhanced by their actions and performance. “We need something in the bill to force FCS to be a better borrower—® perhaps by utilizing bond experts. How do you inject accountability in to the System?” Mr. Grandy said the main point right now is how much an FCS res® cue will cost. “We don’t know, and we:don’t know where the funds will come from, but I can’t see Congress, which bailed out Chrysler and Conti-^ nental Bank, letting the FCS die® out.” □ Ron Kiel Linda Rodehorst Investment Representative Correspondent Banking O fficer 712 - 27 7 -6 7 3 6 SECURITY N A TIO N A L BAN K IN SIOUX CITY, IOWA. MEMBER F.D.I.C. 712 - 27 7 -6 7 4 5 a n k er s^ BiA N K E R Sm Somespecial candidatesfrom Robert Halfs Banking Division PRESIDENT, B .A . * Turn around specialist! Aperfect fit for a troubled bank. Has impressively managed a $40mm bank to profitability. Aseasoned lender that understands both commercial and agricultural credit # well. This people motivator is looking for a new challenge in either a clean up situation or expandinga new loan portfolio. Asks: $50,000. • AG LENDER, B.S. Action orientedaglender with 2 + years successful lendingexperience in a mediumsizedbank. A loyal performer who will bum the midnight oil to finish a project. Great work out abilities. • Asks: Mid $20’s. CREDIT ANALYST, B .S. with honors. Razor sharp analytical skills! 2 + years experience includes spreading financial statements, con ducting trend analysis and preparing written credit reviews. More than just a numbers person! 0 Lookingfor a career pathing opportunity. Agreat loan reviewtype. Asks: $23,000. MID-MARKET LENDER, B.S. • Excellent training! This gifted lender has exceptional technical competence. Successfully com pleted a 9 month formal credit training programwith a major bank holding company which cur rently administers a $15mm loan portfolio to a wide variety of industries. This proven performer * won’t be available long! Asks: $35,000. # AG LENDER, B .S. This trouble shooter is perfect for a tough ag loan portfolio. 5years lending experience in a small bank. Atough negotiator with excellent communication skills. Makes sacrifices to get results! • Asks: High $20’s. COMMERCIAL LENDER, B.A . • Abright, resourceful lender with 3 + years commercial experience who desires a new challenge. Aproficient numbers person who understands the need for business development. Has formal credit training. Aproven community type who will get involved. Asks: Upper $20’s. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis WORK OUT SPECIALIST. B.S. Tough minded administrator accustomed to the strenuous work of a problem bank. 5 + years lending experience which includes successfully cleaning up a camel rated 4 bank. Ano nonsense* type who demands results. Excellent credentials verified with references. Ready for a new challenge. Asks: $40,000. # TRUST OFFICER, J.D . Great business development skills! This professional account administrator has 2 Vi years of direct _ client contact. Experience includes estate planning, profit sharing, and investments. Earns: $25,000. OPERATIONS MANAGER, B .S. Project oriented individual has 8 + years operations experience. Background includes overseeing teller line, accounting, general ledger and security functions. Some experience in lending. An • excellent motivator and all-around banker! Willingto put in the hours! Asks: $28,000. AUDITOR, B .A . • High energy person with streamlined ideas that generate cost savings. 5 + years experience in cludes the set up and management responsibility for the internal audit function ofa medium-sized bank. Outstanding technical competence! Asks: Mid $30’s. * SR. LENDER, B .A . Doyou need a take charge individual who will command respect fromyour lendingstaff? Youcan * feel at ease leaving this credit administrator in charge! This excellent technician has 10 + years in commercial lending and has been exposed to both large and small credits. Ateamplayer that will make a great addition to any staff! Earning: $45,000. Paul G entzkow Placem ent Manager The Banking Division Robert Half o f Minnesota, Inc. 3636 IDS Center, Minneapolis, MN 55402 ( 612) 339-9001 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 years . . . AND A T TH E LOW EST 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 BANK’S BOND? 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 A T TH E LOW EST 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 Oakland Acres Golf Course west of Grinnell on U.S. 6. Tee-offs begin at noon, cocktail hour is 5:00, and a a prime rib dinner will be served at 6:00. Cost is $35 for the day or $12.50 for cocktails and dinner. Make reservations by Aug. 12 by calling the bank at (515) 498-7714. a * * * Iowa’s four largest multi-bank holding companies have formed the Association of Iowa Bank Holding Companies. Initial members include 9 Banks of Iowa, Inc., Brenton Banks, Inc., First Interstate of Iowa, Inc., and Hawkeye Bancorporation. Ac cording to the Association’s presi dent, Holmes Foster, it was formed 9 largely to promote the cause of inter state banking. Norwest Bank Des Moines, N. A., has declined to join at this time. ^ WATERLOO: Dennis E. Egel has joined Peoples Bank and Trust Co. as vice president and trust division head. He previously was a tru st offi cer at Waterloo Savings Bank, and ^ is also an attorney. Nebraska News CRAWFORD: A t Crawford State Bank, Don Bell has resigned as pre# sident and chief operating officer to pursue other business interests. Ben Norman has been appointed ex ecutive vice president and COO. He was previously vice president at 9 Security National Bank in Harrison. Max Hasselbring has resigned as in stallment loan officer to accept a position with the Casey Insurance Agency in Johnson. He is succeeded 9 by Scott Haskell, former assistant cashier at the First National Bank of Fairbury. $12.6 billion retail and business banking group. CHICAGO: Thomas C. Theobald. 50, has been elected to replace John Wisconsin News E. Swearingen as chairman and MILWAUKEE: The Marine Cor CEO of both Continental Illinois poration, Wisconsin’s third largest Corporation and its lead bank, Con bank holding company, has agreed tinental Illinois National Bank and to be acquired by Banc One Corp. of Trust Company. Mr. Swearingen, Columbus, Ohio in a stock swap 68, had announced severed months valued a t $546 million. After ago his intention to retire from Con regulatory approval, Marine will tinental. then become a subsidiary of Banc One under the name of Banc One Minnesota News Wisconsin Corp., and each Marine MINNEAPOLIS: Daniel A. Saklad, subsidiary will assume the Banc president of a mortgage and in One name. George Slater, chairman surance subsidiary of Citicorp, has and CEO of Marine, will hold the been named Minnesota-Wisconsin same titles in the new corporation. regional president for retail and Colorado News business banking for Norwest Corp. and executive vice president of Nor DENVER: Kent D. Boyd has been west Bank Minneapolis. Gerald M. elected president of Central Bank of Kanne, current regional president Aurora. He has 17 years banking ex for retail and business banking in perience, and most recently was ex the two states, has been named chief ecutive vice president of Central administrative officer for Norwest’s Bank of Chatfield. Illinois News Applications, supervisory requests and other management services SW ORDS ASSOCIATES. INC. P R O F E S S IO N A L B A N K IN G C O N S U L T A N T S 2 Brush Creek Blvd. Kansas City, MO 64112 (816) 753-7440 COUNTONn Count on Com m erce for superior capabilities and personal attention to your correspondent banking n eed s. A combination w e’ve upheld for m ore than 120 years. Give us a call. 1-800-892-7100 i-800-821-2182 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (Outside Missouri) dSSt Commerce Bank o f Kansas City 4 POSITION AVAILABLE COL. GORDON E. TAYLOR Box 949 - Mason City, la. 50401 515/423-5242 Professional Auctioneer Real Estate Broker and Appraiser HrJpjf M etÊ Ê m r Æ Ê RYAN AUCTION CO., INC. Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319-382-8648 TRUST OFFICER. $125MM bank has an excellent oppor tunity for a Trust Officer In a growing department. Candi date will be responsible for managing & expanding the current $4.5MM assets. Prefered candidate will have a law degree with 1-3 years of trust experience. Send resume to Peoples Trust & Savings Bank, Box 279, Indianola, IA 50125 Attn: Personnel. E O B M -F (PA) Additional AQ LOAN OFFICER with degree and some ex perience. NE Iowa County seat. $47MM bank. Send resume to File No. W JR c/o Northwestern Banker. (PA) SENIOR LOAN OFFICER with 5 years plus experience. Solid rural bank. Advancement to C E O and stock purchase possible. Will help relocate. Salary open. Send resume and salary history to Charles J. Neuroth, EVP, Farmers Sav ings Bank, Remsen, Iowa, 51050. (PA) COMMERCIAL LOAN— prefer large bank training & experi ence for a $40MM commercial department. Salary com mensurate with experience. Send resume to File No. W JT c/o Northwestern Banker. (PA) Entry level AGRICULTURAL LOAN OFFICER wanted for eastern Nebraska agricultural bank. Reply to File No. W JV c/o Northwestern Banker. (PA) TRUST OFFICER— Opportunity for person with 2 to 3 years experience to join a growing department with assets in excess of $140,000,000. Chance to learn all aspects of the trust business with primary responsibilities In perso nal trust administration. Strong bank and an excellent community of 15,000 people. Send resume and salary history to David Goos, Assistant Vice President, Jasper County Savings Bank, P. O. Box 1166, Newton, Iowa 50208. _______________ (PA) POSITION WANTED 3 yr. AG/COMMERCIAL LENDER desires new opportuni ties. FmHA, SBA, workout & fin. stmt, analysis experience. IA. St. Univ. grad. Send replies to File No. W JU c/o North western Banker. (PW) 1987 graduate looking for bank employment. Entry level position desired in LOANS, and/or COMPUTER/OPERATIONS areas. Have degree In accounting and bus. admin. Currently working at bank in S.E. Neb. Call Mark Czapla at (402)828-3210. (PW) FOR SALE MODULAR STEEL VAULTS. American Bank Equipment, Inc. 402-571-5621. A sensible alternative. Serving the banks of Nebraska and Western Iowa. Sales •Service - In stallation. (FS) POSITIONS AVAILABLE COMM’L VP Progressive metro organization seeks proven 7 + comm’l lender for VP spot. $45K. CEO Due to our conversion to our own in-house computer system, we are offering for sale a 1981 S 568 SINGLE POCKET PROOF ENCODER & A REWORKED S 558 SINGLE POCKET PROOF ENCODER. Both under mainte nance agreements. These machines are in good working order and are priced to sell. If interested, call 402-5824941. (FS) Profitable bank seeks #1 person for near metro instit. Ins lisc. a + . $38K. Great location. Must have 1-2 yrs consumer and opera tions exp in a bank. Good sales skills. $23K. AG BANKING PERSONNEL COMM’L LOAN OFFICER SR. VP OF LENDING Pres, w/in 2 yrs! 10+ yrs lending, credit and ag skills. $112M + bank in super area. $65K. SENIOR LOAN OFFICER Fast growing county seat bank looking for rural banker with commercial and ag. $41K. POR FURTHER INFORMATION CONTACT KURT ROSENCRANTS RO B ER T HRUP of • • • • • Specialists in ag-oriented bankers. Experts in personnel since 1968. Serving Iowa and the Midwest. Professional and confidential. Employer retained. aqn carers,inc. _J AG BANKING PERSONNEL SPECIALISTS nwa.MC. 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID ence and supervisory skills....................................To $28,000 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 COM M ERCIAL M O R TG A G E— Growing department lo o k -E ing for an experienced lender with the desire and dedica tion to achieve success. Degree plus 2-3 years experience. ....................................................................................................To $25,000 EDP AUDITORwith two or more years EDP audit experi ence. IBM, DOS, MVS..............................................................To $30,000 Financial Careers, Inc. • Two Ruan Center/Suite 1000, Des Moines, IA 50309 515/245-3786 Employer pays fee. Please contact Lorraine Lear or Malcolm Freeland con cerning these and other Midwest banking opportunities. POSITIONS AVAILABLE COM’L LOAN OFFICER Has management failed to recognize your ta le n ts? E $160mm bank 1% hrs. from the twin cities seeks a degreed professional with 2 + years com’l lending/credlt analysis exp. Must have excellent presentation skills, strong analytical abilities, and a top image. To $24K. Job #NW2030. AG LOAN O FFICER ^ Time to make a change? $15mm bank just o u ts id e ^ Mankato needs an ag lender with 3 + years lending exp. Degree preferred. Requires heavy community involvement. A clean bank offering a great deal of opptyl To $28 K. Job 8NW2029. CREDIT REVIEW Great ground floor opportunity! Downtown M inn eap olis^ bank holding co. seeks a proven professional with 3 + years com’l lending exp., formal credit training and a pro fessional Image to join their credit review team. This posi tion will review credits in surrounding banks for trend analysis, risk rating, and overall loan administration. To$35K. Job 8NW2028. FOR MORE INFORM ATION C O N TA C T PAUL G ENTZK O W OR JE A N TO D D A [iffl RO BERT HflLF t f f OFMMNEBOTA.MC. * * * * ! 3636 IDS Center ® Minneapolis, MN 55402 0 (612) 339-9001 ALL FEES COM PANY PAID POSITIONS AVAILABLE CONS/OPS Sr. position in dept. Looking for 3 yrs comm'l fast tracker. Will supervise 5. $35K. POSITIONS AVAILABLE BANK AUDITOR— CPA/CIA or CBA with bank audit e x p e ri-£ 515-394-5827 New Hampton, IA 50659 712-779-3567 Massena, IA 50853 COM M L LOAN - S50MM 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- A ment skills desired. Open w LOAN REVIEW • large urban bank affiliated with major midwestern holding company. Degree and 2-3 yrs. loan review/workout experience desired. $30K TR U ST O FFICER • medium size community bank with growing trust dept. JD preferred but not mandatory. $27K COMML LOAN - $100MM community bank. Supervise com- 9 mercial lending function. Future advancement possible. $45K Additional positions available in midwestern states for experienced bankers. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 A ” “Serving the Banking Industry Since 1970” Vol. 16 No. 16 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 Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden Digitized forDes FRASER St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis £