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Des M oines, Iowa Survey Shows Loan Charge-Offs Drop Loans Section.) bank loan charge-offs declined for the second consecutive year, according to a study released by Robert Morris Associates. RMA is the national association of bank loan and credit officers. The statistics for the year ending December 31,1979, are contained in RMA’s ninth annual survey of the domestic and international loan charge-off experience of its member banks. On the domestic side, the results showed that the ratio of gross charge-offs to average loans out standing decreased to .46 of 1 % in 1979 from .51 of 1 % in 1978 and .64 of 1% in 1977. The ratio of recov eries to gross charge-offs remained steady at 32% in 1978 and 1979, up from 20% in 1977. This contributed to the ratio of net charge-offs to average loans outstanding’s de creasing to .31 of 1% in 1979 from C o m m e r c ia l .35 of 1% in 1978 and .51 of 1% in 1977. On the international side, the ratio of gross charge-offs to average loans and deposits declined to .12 of 1% in 1979 from .13 of 1% in 1978. After recoveries, the ratio of net charge-offs to average loans and deposits outstand ing decreased from .10 of 1 % in 1978 to .07 of 1 % in 1979. The domestic section provides gross and net charge-off statistics for seven different types of loans. They are direct real estate lending, loans to financial institutions, loans for purchasing or carrying secur ities, loans to finance agricultural production, commercial and indust rial loans, loans to individuals for household, family and other per sonal expenditures, and all other loans. (These loan categories parallel the 1979 Federal “call” Reports of Condition, Schedule A — In addition, the domestic section of the RMA report ranks the highloss industries for 1979 by bank asset size, Federal Reserve District, and nationwide. The top three highloss industries nationwide by the number of times cited were: invest ors (individual, personal borrow ers) ; single family housing construc tion, and eating places. The top three high-loss industries ranked by dollars charged off were (1) subdividers and developers; (2) special trade contractors, and (3) manufacturing industries. When asked to predict the highloss industries for the current (1980) year, respondents ranked them: (1) single family housing construction; (2) eating places, and (3) investors (personal, individual borrowers). The statistics in the domestic section are based on data contri buted by 861 RMA member hanks Included are data from 87 of the country’s largest 100 banks. The TablG 1—'Base data gathered from banks responding to the survey Bank asset size Total average Total dollars Total dollars Total assets loans outstanding charged off recovered 12/31/79 No. of as of 12/31/79 during 1979 ($ 000, 000) in 1979 banks in 1979 ($ 000) ($ 000) ($ 000) ($ 000) UNDER 50 50 - 99 100 - 199 200 - 49 9 50 0 - 999 1000 - 4999 OVER 5 , 0 0 0 TOTAL ICI 158 194 179 93 104 33 961 3 , 371 , 4 7 0 11 , 839, , 839 27,, 013, , 595 56 i, 061 , 199 62,, 835, ,97C 222 i,462 ,, 953 61 7, , 187, ,784 1 , 0 0 0 , 772, , 900 1 , 946. , 2 8 5 6 , 741 , 594 15,, 198, , 340 30,, 155, , 940 33 , 6 7 0 1,444 111, , 126, ,754 229 , 889, ,301 428, , 728, ,659 7,892 24,631 53,782 116,633 169,302 543,378 1,057,362 1 , 9 7 2 , 98 0 2,637 8,100 17,174 37,965 46,914 164,713 359,891 Don't gam ble w hen choosing a correspondent bonk. Com e to the professionals. For any correspondent bonking need . . . overline assistance, data processing services, investment counseling . . . just give us a coll. W e're the professionals w ho put the response in correspondent bonking. Mi kM Central National Bank & Trust Com pany DES MOINES • MEMBER FDIC • TOLL FREE NUMBER (800) 362-1615 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tC&jESfc- I illlfgMg'• Eddie A. Wolf, Sr. Vice President Our computer We’re people you can turn to for investments. For investment services, data processing, ag lending and overlines . . . we’re the people you can turn to. We’re more than western Iowa’s largest bank. We’re people. capabilities give you a lot o f help for your m oney. Jim Hongslo Vice President 712/277-6625 SECURITY NATIONAL BANK IN SIOUX CITY, IOWA. M EMBER F.D .I.C . participating banks reported gross charge-offs of $1,973 billion and $429 billion in loans outstanding. Loan recoveries totaled $637 million. After allowing for these re coveries, net charge-offs were $1.34 billion. The international section pre sents statistics submitted by 136 RMA member banks, 85 of which are among the country’s top 100. The participating banks reported average international loans and deposits outstanding during 1979 of $251 billion. Gross charge-offs were reported to be $291.5 million, while total dollar recoveries were $122.6 million. The international section pre sents gross charge-off, recovery and net charge-off data for five inter national loan portfolio sizes and five bank asset sizes. It also provides an indication of aggregate charge-off experience by country and type of borrower. A free copy of this report was sent G row w ith a BANKERS’ BANKER Call 1-800-362-1688, toll-free in Iowa Roger Arwood Correspondent Banking Department ) 1980 Security National Bank to the senior associate and senior commercial lending officer of all RMA member banks. Additional copies are available from the RMA Order Department, 1616 Phila delphia National Bank Bldg., Phil adelphia, PA 19107. The price is $5 each for RMA member banks, and $7.50 each for non-member banks. □ Iowa News BODE: Funeral services were held last month for Harold Reding, 67, inactive vice president of the Bode State Bank. He had served as presi dent of the Bode Cooperative Ele vator board. CEDAR RA PID S: Jack Parmenter has joined First Trust & Savings Bank here as senior vice president and cashier. Previously he was vice president and cashier at Farmers State Bank in Marion and before that was with Central National Bank & Trust Co. of Des Moines for a number of years. D ES MOINES: Frank J . Tamse, 69, retired executive vice president and cashier of Capital City State Bank, died July 29. He started with the bank in 1930 as a messenger and had served as cashier since 1950, later being elected executive presi dent as well prior to his retirement in 1973. SPEN CER: An application by Central National Bancshares, Inc., Des Moines, to acquire the Spencer B a n k e rs* IO W A . nesMoines A A NATIONAL BANK Membß.f FD1C An Affiliate of Northwest Bancorporation National Bank has been approved by the Federal Reserve Bank of Chicago. Spencer National had total assets over $36 million at June 30, 1980. Central owns 10 Iowa banks and had assets over $780 million at June 30, 1980. Nebraska News CROFTON: Crofton State Com pany has received consent from the Federal Reserve Bank of Kansas City to become a bank holding com pany by acquiring the Crofton State Bank. LINCOLN: An application by Fre mont State BancShares, Inc. here to become a bank holding company has been approved by the Federal Re serve Bank of Kansas City. The company will own First State Co., tir We can save you money on MICROFILM LAMPS. We soli cit your inquiries. SITLER’S SUPPLIES, INC. Box 10-Z 702 E. W ashington St. W ashington, Iowa 52353 Phone 319-653-2123 In Iowa Call 800-272-6459 Gary Stevenson Your Man on the First Team. Des Moines, Iowa 50304 Member FDIC, Federal Reserve System m am m .H b » GARY STEVENSON Vice President 712/ 277-1500 First National Bank m Sioux City • A ‘BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * Carleton D. Beh Co. Supplement to Northwestern Banker Newsletter 8-4-80 Investm ent Bankers/Financial C onsultants K * * NEW ISSUE SALE DATE: July 22,1980 b**< $2,380,000 FORT MADISON, IOWA -4 > MOODY’S: Aa General Obligation Corporate Purpose Bonds * Dated: July 1,1980 Denomination: $5,000 Both principal and semiannual interest (June 1 and December 1, first coupon due on December 1,1980) payable at the Office of the Treasurer, Fort Madison, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. MATURITIES 8.90% 8.70% $100,000 J u n e l,1982 5.20 $175,000 J u n e l,1991 * 6.50 9.00% 6.70% 105,000 J u n e l,1983 5.35 185,000 J u n e l,1992* 6.55 110,000 J u n e l,1984 5.50 195,000 J u n e l,1993* 6.70 120,000 J u n e l,1985 5.65 6.85% 125,000 J u n e l,1986 5.80 210,000 J u n e l,1994* 6.85 135,000 Junel ,1987 5.95 7.00% 145,000 J u n e l,1988 6.10 225,000 J u n e l,1995* 7.00 150,000 J u n e l,1989 6.20 .05% 160,000 J u n e l,1990 6.35 240,000 J u n e l,1996* NRO ^Optional beginning June 1, 1990 in inverse numerical order at 101.50%. LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS, DES MOINES, IOWA The City of Fort Madison, one of the tw o county seats of Lee County, Iowa, is located on the M ississippi River in southeastern Iowa approxim ately 90 m iles south of Davenport, Iowa. Fort Madison serves as a retail trading area and service center for the surrounding prosperous agricultural area and has long been the home of several sizable local and nationally based industries. Chief among these are theW .A . Sheaffer Pen Company, now a division of Textron, and the w orld’s largest manufacturer of fine pens; E.l. duPont deNemours & Co., manufacturers of paints; Ajax Manufacturing Co., a division of Montgomery Ward; Anchor Metals, a division of All American Industries; and Crandon M ill, a division of Consolidated Packaging Corporation. Since the early 1960’s the City has experienced a substantial influx of major new industrial development and currently over 65 per cent of its labor force is employed in manufacturing. There are three banks located in Fort Madison w ith deposits as of December 31, 1979, in excess of $94,800,000. These bonds are being issued in accordance w ith the provisions of Chapter 75, Code of Iowa, 1979, as amended, for the purpose of constructing various improvements in the City. In the opinion of counsel, these bonds are legal and binding general obligations of the City of Fort Madison, Iowa, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal of and interest on the bonds w ithout lim it as to rate or amount. FINANCIAL STATEMENT Actual value of taxable property, 1979 Assessed value of taxable property, 1979 Direct debt, including this issue Total direct and overlapping debt $240,437,682 193,971,596 4,560,000 4,689,845 Population, 1980 estimate: 15,000 Direct debt per capita: $304.00 Total debt per capita: 312.65 Tax collections have approximated 103.74% of taxes levied for the past eight years. 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 was based. Offered subject to prior sale and change in price. Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 607 Marquette Ave. • Minneapolis, Minnesota 55402 • 612-332-8825 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis our Bond Departm ent For u p-to -th e-m in u te, accurate inform ation « w 4 * Ht* V s mm ■fi Terry Mercurio Vice President Jim McLaughlin Vice President 234-2462 Asst.Vice President Asst. Vice President Vice President 234-2458 Bond Représentative 234-2673 234-2674 Tom Steffens ■ I ■ C ommerce Bank o f Kansas c ity M em ber FDIC the parent of First State Bank of Fremont. SUTHERLAND: Recent officer changes at the First Security Bank here include the following advance ments: Mel Adams J r ., president to chairman; Gordon Larson, execu tive vice president to president; Roy Bischoff, assistant cashier to assist ant vice president, and Joyce Leach, assistant cashier to cashier. Melvin H. Adams Sr. has retired as chair man. Minnesota News BA RR ETT: Jeffrey Holsen has been named executive vice president and managing officer of the Citizens State Bank here in a recent change of ownership of the bank. In addi- jf e | km ' tion to Mr. Holsen the new owners and directors are V. F. Hegeholtz, Cleo D. Hegeholtz and John Sand berg. Mr. Holsen has been with the bank since 1977. M A BEL: The First National Bank of Mabel has been sold to Douglas M. Kratz and Wayne A. Finnern, who have assumed the positions of chairman, and president and man aging officer, respectively. The bank had been owned and managed for many years by members of the Tollefson and White families of Mabel. Mr. Kratz will continue as president of the First Trust Bank of Lakefield. NEWPORT: Town & Country State Bank here has announced personnel changes. E . Milton Klohn, presi dent and chief executive officer, has moved his office to the Woodbury branch to concentrate on market ing, business development and planning. Gary L. Vigness has been elected executive vice president and board member to be responsible for the overall lending function and management of the Newport office. Illinois News JM . u \ y I ASK TERRY MARTIN GRANITE CITY: The Granite City Trust and Savings Bank has re Estate Appraisals Purchase of Collections to make MNB work for you. BW Tony Paugoulatos 234-2647 Toll free 1- 800- 332-5991 Merchants A National Bank 151 M e m b e r F .D .I.C . A B A N K S O F IO W A ’ B A N K https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis John Henderson 234-2463 10th and Walnut Rusty Reese (816) 234-2000 ceived consent from the FDIC to establish remote service facilities at 3030 Madison Ave. and 3731 Nameoki Road here. MOUNT PROSPECT: The com missioner of banks and trust com panies has issued final approval for the merger agreement between the Mount Prospect State Bank and MPS State Bank, joined in by MPSBancorp, Inc., a Delaware holding company. The resulting and con tinuing bank (Mount Prospect State) will have issued and out standing 335,000 shares of capital stock with a par value of $10. Colorado News DENVER: Stapleton Bancorporation, Ltd. here has received con sent from the Federal »Reserve Board to become a bank holding company by acquiring the Dominion Bank of Denver, formerly Guaranty Bank of Stapleton. Discount Rate at 10% The Federal Reserve discount rate dropped last week one full point to 10% reflecting an alignment with the level of short-term market inter est rates and bank lending rates. The prime at some major banks fell earlier to 10% % , while others re mained at 11%. Fed Funds ranged from 9% to 9 5/8%. Sale of Rare Coins "Opportunity Colls..." Reliable and respected service for over 20 years American Trust & Savings Dank Used by bankers throughout the midwest Ben E. Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 L e o K a n e , Correspondent Danker The Dank of Opportunity Town Clock Plazo, Dubuque, Iowa fljj| CALL 319-582-1841, COLLECT « 4 r POSITION AVAILABLE □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. CEO wanted by Iowa community bank to replace retir ing president. Please Contact: J. Mason Henry Auditor, with CPA or bank auditor degree, wanted by $45 m illion Iowa bank. Trust Officer needed fo r $16 m illion central Illinois bank. Charles E. Walters Co., Inc. P.O. Box1313, Omaha, Nebraska68101 Phone: (402)553-6400 Insurance for Financial Institutions Automated Systems of Iowa, Inc. 301 N. Ankeny Blvd., Suite 220 Ankeny, la 50021 515-964-1358 AG PERSONNEL RECRUITING As agricultural loan correspondents and farm management specialists, we know how to locate and evaluate the best personnel in ag lending and property management. To answer your recruiting needs in these and re lated fields, call on us. For complete information, call or write Lynn R. Loken, WESTERN FARM MANAGEMENT COMPANY, 3333 Quebec St., Suite 3400, Denver, Colorado 80207. Phone (303) 388-4084. ÆFSINCE 1933 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 Fifteenth Street, Des Moines, Iowa 50309. Phone (515) 244-8163. Employer pays fee. (PA) RETAIL BANKER—Outstanding growth opportunity for right person. We are a large suburban bank in the midwest, w ith plans to restructure our instalment lending activities into a broader personal banking approach. The individual we are seeking will be divi sion chief and a member of the executive committee. Must have excellent credentials. Replies w ill be held in strict confidence. An Equal Opportunity Employer. Write file KBQ, c l o Northwestern Banker.______ (PA) Bank in Iowa Great Lakes region seeking cashier. Re sponsible for ail reports, daily operations and some lending. Ail inquiries kept confidential. Send resume and salary requirements to file KBV „c/o Northwestern Banker. (p a ) PARTIAL LIST OF AVAILABLE POSITIONS CASHIER— Four to six years operational experience needed. Excellent location, good opportunity. $21,000 #2—Generalist needed for new charts. Want an ag gressive go-getter. $27,000 OFFICER—Will have total and complete responsi bility for industrial bank. All types of lending. $18,000 TRUST OFFICER— Experience needed. Will event ually take full responsibility for department. $21,000 AG OFFICER— Two years experience needed. Be#1 in department. Must be able to work with little super vision. $22,000 VP—Commercial lending. Must have strong lending and supervisory experience. $28,000 OPERATIONS—Ag bank in Minnesota. Oversee all operations. EDP experience a plus. $15,000 FOR FURTHER INFORMATION RESPOND IN CONFIDENCE TO: Bank Division R O B E R T H A L F of Iowa, inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 FOR SALE Permanent-type 14x70 mobile bank. Complete unit with four teller stations, drive-up, security system, night drop and more. Handled our business to $7.5 m illio n . Im m ediate a v a ila b ility . Phone (312) 837-0110,_________________________________ (FS) 1974 LeFebure 6600 Spartan drive-up window. Excel Ient condition. Phone(712) 472-2581. _________ (FS) FOR SALE Burroughs TR-102 electronic teller machines; 2-3 years old. Upgradable to on-line. Guaranteed. $995 each. S E R V IN G Banking, Financial & Business Personnel Iowa and Nationwide C A P IT A L P E R S O N N E L S E R V IC E 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 Burroughs TT-102 electronic on-line teller machines; 1-3 years old. $1790 each. NCR 152-70 teller machines. Completely recondition ed. Guaranteed; 15 days free trial. $675 each. "w A N T A D 8 W J 5 E Ï M iD S W A N T A D S W A NT ADS W A N T AOS W A Ü S W A s W f NCR 490 desktop check encoders. Full-field. Guaran teed. $875 each. NCR 775 proof machine; 12 pockets. Maintenance w ill transfer. $10,900. POSITION WANTED Executive Officer, with 30 years experience in all phases of banking business (including lending, in vestments and operations), seeks new opportunity in upper midwest. Currently employed. Instalment Loan Officers with varying degrees of experience and locations. Salary requirements from $18,000 to $25,000. Trust Officer in $100 m illion bank wants new position where he can use 20 solid years of management exper ience. Call (214) 757-7760 (FS) 12’x40’ mobile home converted fo r 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) Modular ATM building. Can be adapted to most models of automated teller machines. Stone aggregateexterior; electric heat and air conditioning. Ready for immediate delivery. Contact Financial Products, Inc., Box 1035, Eau Claire, Wisconsin 54701. Phone (715)835-8160._____________________________ (FS) Operations Officers with excellent experience w ill re locate in upper midwest. Ag Lending Officers available from $25,000. Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 Fifteenth Street, Des Moines, Iowa 50309. Phone (515) 244-8163. Employer pays fee. (PW) UPDATE YO UR AG BANKING CAREERS $18,000 to A LA R M S Professionally installed closed circu it television and 35mm auto cameras. A u to m a tic ta p e d ia le rs and p o lic e panel connection are available to suit your needs. SECURITY SYSTEMS, INC. ^ ^ 3920 Delaware Des Moines, IA 50316 [515] 265-1161 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. B O H CAREERS, INC. m j agricultural personnel recruiters (515)394-3145_____________ New Hampton, IA 50659 P R O F E S S IO N A L L Y 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 within 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 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 cia l 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 otherfineopportunities 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, M issouri 64116 _____________ Phone (816) 474-4874 CALL ON THE “PERFORM ANCE TEAM ” where comm on transactions are handled uncommonly we//. FIRST NATIONAL LI NCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. V?'- 9 Nu° - 15 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 FifteentbStreet, 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 -X__±
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