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Decem ber 1,1986 Des M oines, Iowa Vol. 15 No. 33 Chapter 12, Clear Title Bring Concern By BEN HALLER, JR. Publisher developments continue to dominate communi ty bank news in the upper midwest. Bankers continue to be the “benefi ciaries” of a Congress seeking elec tion-year ways to assist some farm ers so long as it doesn’t cost the gov ernment any more money. With this defend-the-budget caveat in its aidthe-farmer-at-the-expense-of-lenders mentality, Congress has presented the banking community with a Thanksgiving “turkey” titled Chap ter 12, and a Christmas sock lump of coal named UCC Clear Title revi sion. State bankers associations in the upper midwest have been pushing aggressively for state law changes to lessen the impact of the federally mandated UCC Clear Title changes, which become effective December 24. Section 1324 of the 1985 Farm Bill changed the federal lien law and created two alternatives for a lender to use when taking collateral on a loan: 1. Direct prenotification sent to all possible buyers of farm pro ducts if a lien exists. 2. Development of a USD A certified central notifica tion system. All of this is aimed at undermining the UCC farm excep tion which protects a lender’s se A g r ic u l t u r a l • I 1 /- • i Bb é i cured lien on an ag loan. Farm buyer groups banded together to assault this historical lender position and after listening to their snow job, Congress quickly voted to under mine the banking system’s ability to lend deposit money with security. The 50-member association of Secretaries of State was the sole ally of banks in their effort to fend off this unwarranted law change. In a few states—Oregon and Montana, for example—central notification systems have been put in place. At a special session of the Nebraska leg islature, called by Governor Bob Kerrey at the request of the Nebras ka Bankers Association to consider this subject, LB 1 was passed and signed by the Governor on Novem ber 20 to put into operation Neb raska’s central filing system that is already in place in the Secretary of State’s office. The amount of work by NBA that went into this effort was unbelievable, and was sup ported by the Nebraska Indepen dent Bankers Association and FirsTier bank attorneys, NBA noted. Nebraska’s system awaits USDA approval. It will be financed by lend ers and buyers. Printout or tapes will be available to buyers. In Iowa, special sessions to in form bankers of the current status of state law that must be followed Together We Can Accom plish Great Things C all Terry M artin, M N B Correspondent Banker 319-398-4320 or Toll Free 1-800-332-5991 ine • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BB ¡1 starting December 24 were held throughout the state. The Iowa Bankers Association has filed a law suit contesting the constitutionality of the law enacted by the Iowa legis lature last spring to govern the noti fication procedure in Iowa. Whereas the new federal law stipulates that lenders may make direct notification to buyers statewide of liens on their customers, the Iowa law says the lender may notify only those poten tial buyers whose names are sup plied to the lender by the borrower. If the bank notifies off-list buyers, it can be fined $200 per infraction. The IBA will petition the legislature to opt instead for a central notification system, since the computerized cen tral filing at the Secretary of State’s office has been in place since 1980. Minnesota is on a prenotification system, but is looking at the recent ly approved Nebraska central filing system. North Dakota legislature approved a computerized central notification system in the spring of 1985 and it became operational Jan uary 1, 1986. Final approval from USDA is being awaited at this time. South Dakota, like many other states, is going with direct notifica tion as provided in the federal law. What could be the most damaging of all farm legislation is the new Chapter 12 bankruptcy proposed by Iowa Senator Charles Grassley and enacted by Congress as part of the recent bill to provide for 52 more -----------v Strength of \ Eastern J * ,n , |■ o w a _V f Merchants National Bank in Rapids Cedar Iowa 52401 Member F D 1C A BANKS OF IOWA BANK Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS Member FDIC Yearn work: one of the reasons we’re first in Iowa. Mark Conway bankruptcy judges. Senator Grassley and other members of Congress refused to listen to banker associa tion spokesmen who warned this could be the death knell for some banks, as well as cutting off credit for many, if not all, marginal farm borrowers. It permits a farm bor rower to write down his loan in bankruptcy court to current value and the lender, essentially, is stuck with the balance of the loan and must write it off. Adding insult to injury is the fact that i f that land later appreciates in value the lender may never again come back and re claim any of that value—it would all belong to the borrower who wound up not paying for it! We attended a press conference in Des Moines November 25 when Iowa Governor Terry Branstad hosted Republican Governors and Congressmen from several states, including some from as far away as Texas and Oregon. We asked Sena tor Dole how Congress could con tinue attacking the community banks that are expected to provide local ag credit, citing Chapter 12 and the Clear Title revision, as well as the pending bailout of the Farm Credit System. He generalized, as usual, and stated, “If any problems develop, we’ll certainly look into them, of course.” Before he could be asked what would be done to rebuild those banks which are maimed or killed by such legislation, he imme diately turned away. The only per son among the 15 or so leaders pre sent who made any direct response was Nebraska Congressman Doug Bereuter, who has proved himself a supporter of and totally understand ing of the needs of community banks. He has proposed legislation to establish a secondary market for commercial long-term agricultural real estate and informed us after the t's easier to talk Iowa banking with people who live it — people like Donald H. Jordahl and the cor respondent staff at Bankers Trust. I Call 1-800-362-1688 or 515/245-2424. Bankers Trust Des Moines, IA Member FDIC 1 Donald H. Jordahl Vice President For Professional Correspondent Service Call 1-800-622-7262 ThereJs A Difference In Banks... Valley National Bank â Main Office - Sixth and Walnut DES MOINES, IOWA 50304 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Member FDIC JAMES E. MacLEAN Vice President H. PETER DeROSIER Vice President press conference that he will pursue it again in the coming session. Apparently the only thing that will grab federal legislators’ atten tion is failure of some farmers to ob tain credit because of the onerous provisions of these bills. The fact that some banks may fail because of them probably won’t make an im pact on them, unfortunately; only failure of the bills to help farmers will attract their attention, such as cutting off credit. □ Iowa News The Iowa Bankers Association’s consumer services committee is sponsoring a Home Equity Lending Workshop on Dec. 18 at the Mar riott Hotel in Des Moines. The oneday seminar will be conducted by Mike Moebs, chairman of G.M. Moebs Associates, Lincolnwood, 111. He is an experienced lender who has made home equity loans. Katherine Schmidt, an attorney with the Des Moines law firm Davis, Hockenberg, Wine, Brown, Koehn, Shors, will give a presentation on the documen tation and compliance of the home equity line of credit. Registration fees in advance are $115 for mem bers, $150 for subscribers and $175 for nonmembers. After Dec. 12, the fee will be $20 additional. Cost in cludes lunch, breaks and handout material. * * * URBANDALE: Thomas A. Fix has been elected president and chief ex ecutive officer of First Interstate Bank of Urbandale. Previously em ployed by First Bank in Austin, Minn., as vice president, he will join the bank on Dec. 8. Loma Woodburn has been elected as vice president and manager of the bank’s real estate lending division. She had pre viously managed the residential loan production section of Brenton Mort gages, Inc., Des Moines. WATERLOO: Roger P. Olesen has been elected chairman of the Peoples Bank and Trust Company. A mem ber of the bank board since 1979, he is president of Jens Olesen and Sons Construction Company and of Olesen-Simonsen Realty. WEBSTER CITY: Steve Doering has joined the First State Bank as vice president and trust officer. He had most recently been employed at Production Credit Association in Iowa Falls. He is replacing Tim Neuroth who has resigned to accept a position in private business. 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 Now exclusively represented in Iowa by Iowa Bankers Insurance and Services, Inc. 1-800-532-1423 (Iowa) 515-286-4344 515-286-4344 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 12-1-86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis on’t lefor second best. Using a specialist will increase your success in hiring banking personnel — and using Robert Half, the most experienced personnel specialist, will increase your chance of success even more. D IANKERSä »ANKERS Somespecial candidatesfrom RobertHalfsBanking Division COMMERCIAL LENDER. B .S. How about a commercial lender who will be happy in the same spot for awhile? This energetic person has formal credit training which includes the R.M.A. Omega program, and the National Commerical loan school. A technician by nature with articulate business development skills. Has 3 + years commercial lending ex perience and currently administers a $7MM loan portfolio. Looking for a new challenge. Willing to relocate. Asking $31,000 Range PRESIDENT — AG BANK, B. A . Do you need an aggressive leader who will work 60 hours per week? This dynamic manager has a solid grasp of agricultural lending. A down to earth type who has 8 + years ag lending experience. Currently is the CEO of a profitable bank of I10MM. Can inspire confidence in the staff! Looking for a bigger challenge! Willing to relocate. Asking $38,000 Range AGRICULTURAL LOAN OFFICER. B .S. How does a take-charge ag clean up person sound? This cash flow lender assisted in removing a bank from an OCC letter agreement. 3 + years ag lending experience with a keen eye for detail. Ready to burn the midnight oil at your bank! Willing to relocate. Earning $28,000 Range CONSUMER LOAN OFFICER, B .A . Do you need a bright image in your consumer department? This energetic individual has just the right mix of poise and experience. 4 + years consumer experience with a medium sized outstate bank. Has a full range knowledge of floor plan, direct and indirect credit, and student loans. Has the potential to be an executive professional lender. Willing to relocate. Asking $20,000 Range https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis COMMERCIAL LENDER, B .S. Do you need a seasoned commercial lender who can get the job done? This knowledgeable team player is technically competent and has 10 + years exp in commercial lending. An effective communicator who can get along with the customer base. This loyal hardworker has been with only one employer. • AGRICULTURAL LOAN OFFICER, B .S . • Asldng í36’000 Range Do you need a cash flow lender that can jump in with both feet? This results oriented leader has 4 + years ag lending experience with a medium sized bank. Has excellent business instincts and exercises sound credit judgement. Has completed the Northwest Ag Credit School and several other education seminars. Willing to relocate. Asking $29,000 Range • EXECUTIVE PROFESSIONAL BANKER. B .A . Do you need a top image and excellent communication skills to deal with your upscale clients! This high energy type has 2 + years Commercial Lending experience and formal credit training that includes the R.M.A. Omega Program. An outstanding performer with highly regarded negotiating skills. Has the maturity to do the j°b! Asking $29,000 Range MORTGAGE PRESIDENT. B .S . * • Need a superstar to lead your organization both in management and business development? This motivator isn’t afraid to knock on doors and shake a lot of hands. A proven manager in a major market. TRUST — PRESIDENT, B .A . Asking i60,000 Range • Do you need a leader who will make things happen in your Trust Department? This action oriented motivator will make sacrifices to get results. 10 + yrs Trust Company Management with a medium sized bank. This in dividual has a great image and top business development skills. Looking for a new challenge! ^ BRANCH MANAGER, B .S . Asking S55’000 Range Are you sick of babysitting your branch location? This self motivated Consumer Lender has 5 + years branch experience. A highly visible type who can grow new deposits and loans. This successful manager will keep all the daily branch headaches out of your hair! Asking $28,000 Range % COMMERCIAL LENDER. Are you sick of complainers and the open palm syndrome. This hard charger does it all with a smile. 8 + years commercial lending experience in a medium sized bank in outstate Minnesota. Has formal credit training but yet is a natural sales person. Looking for an opportunity to manage a commercial loan department. Will relocate. Asking $38,000 Range * CHIEF FINANCIAL OFFICER (CPA). * Stable, top-notch financial director seeks challenges in areas of systems development, investment/portfolio management, accounting and operations. Prior “Big 8 ” experience has provided an excellent foundation tax and accounting skills. Flexible on location throughout the Midwest. Asking $50,000 Plus • ForFurther Information Re of These Candidates or to Arrange An Interview Call — https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mr. Paul Gentzkow The Banking Division Robert Half of Minnesota, Inc. 3636 IDS Center, Minneapolis, MN 55402 • (612) 339-9001 * 3 C all on th e “ Experienced P rofessionals” Ready to m eet your correspondent needs. Nebraska News ^ ^ • • 0 Due to low registration, the Neb raska Bankers Association’s bank management committee has can celled the 1986 Security Awareness Workshops which had been planned at five sites during the first two weeks of December. Registration fees will be refunded. The committee plans to consider whether to resche dule the program at a later date. FREMONT: H.W. “Bud” Hendriksen has retired as president of First National Bank Trust Co., Fremont. He will continue as a member of the bank’s board and the bank’s trust and audit committee and will main tain an office at the bank. Succeeding Mr. Hendriksen is James A. Hansen. HARVARD: Gerald D. Stahl, for mer executive vice president of Harvard State Bank has passed away at the age of 67. Mr. Stahl joined the bank in 1954 and retired in 1984. OMAHA: Arthur S. Meyers and Steven G. Wickard have been named vice presidents at FirsTier Bank Omaha. Mr. Meyers joined the bank in 1965 and was named an assistant vice president in 1971. In 1983 he was promoted to manager of produc tion control and recently was named the director of human resources. Mr. Wickard joined the bank in 1984 as assistant vice president. He is cur rently a lending officer in the cor porate lending group. Minnesota News • MINNEAPOLIS: The FBS Capital Markets Group has announced the formation of FBS Capital Market Funding, Inc., a new subsidiary of ^ FirsTier.Bank Lincoln 13th & M Streets, Lincoln, Nebraska 68501 Firs-ner Bank, n .a ., Lincoln, Member fdic First Bank System created to struc ture and issue securities backed by a variety of financial assets. William E. Waldusky has been named man aging director of the firm, and Bob bie Euler has been appointed con troller and financial officer. the nation’s top banking officials, the Federal Reserve Board, Comp troller of the Currency and Depart ment of Treasury. The teleconfer ence will be broadcast live from Washington, D.C. to sites across the U.S. Early registration is encour aged. If there are not at least 50 MINNEAPOLIS: Maurice G. Dykema has been named senior vice presi registrants by Dec. 28, the Sioux dent and group manager of develop Falls location will have to be can ment at Norwest Information Ser celled. Advance registration fee is vices, Inc. Mr. Dykema has held $120. Registration on site will be various positions since joining the $130. company in 1973. He most recently served as vice president and group Wisconsin News manager of systems. MADISON: Jennifer N. Kraemer has been appointed vice president and director of human resources at South Dakota News First Wisconsin National Bank of The South Dakota Bankers Asso Madison. Ms. Kraemer joined the ciation and the American Bankers bank in 1982. She replaces Mary M. Association will co-sponsor the third Graye, who retired recently after 28 annual “Bank Compliance Sympo years with the bank. sium ’87,” teleconference on Jan. 29, 1987. The location will be at the Wyoming News Holiday Inn City Centre in Sioux Falls. The symposium is designed to CASPER: First Interstate Bank of provide an annual forum in which Casper has promoted James P. compliance officers, administrators Miller to vice president and manager and bank counsel can be appraised of loan review and compliance. He of regulatory and legislative devel had been assistant vice president opments. Featured speakers will be and loan review officer for the bank. Inquire about FLEX-O-PAY® CALL: ■ a computerized billing/credit system ■ generates additional income from present staff and equipment ■ means of increasing your local commercial business 1-800-772-2411 WRITE: ■ plan developed by bankers for bankers LeRoy Bell The National Bank of Waterloo RO. Box 90, Waterloo, IA 50704 After m ore than 120 years of providing correspondent banking services to the M idw est, you can say weVe had a chance to polish our trade. Find out for yourself. Count on Com m erce. 1*800-892-7100 1*800*821*2182 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (Outside Missouri) tu t Commerce Bank o f Kansas City Holding company formations and other management services NEW OPPORTUNITIES SWORDSASSOCIATES,INC. COMMERCIAL LENDER for $30 million bank located near state university. Requires 5 or more years experience han dling loans of $250,000 or better. Candidate will be a part of management team............................... Salary to $35,000 PROFESSIONAL BANKING CONSULTANTS 4900 OAK SUITE 301 KANSAS CITY, MO 64112 (816) 753-7440 CREDIT ANALYST for $80 million bank in city of 100,000. Prefer degree and commercial loan background............... ............................................................... Salary to $35,000 Financial Careers aqricareers,inc. _J AG BANKING PERSONNEL SPECIALISTS (Division of Freeland Financial Service, Inc.) FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 1010 Equitable Bldg. Des Moines, IA 50309 515/282-6462 Employer pays fee. Please contact Malcolm Freeland concerning these posi tions or for other current openings. FOR SALE POSITIONS AVAILABLE Jean 712/779-3567 Masseria, la. 50853 Sandl 515/394-5827 New Hampton, la. 50659 Confidential. Employer paid fees POSITIONS AVAILABLE SR. LENDER position available for experienced person to develop, plan and implement overall lending function of $200mm bank. Send resume to File No. WHI c/o North western Banker. (PA) CASHIER $26MM S.E. Iowa Bank. Minimum three years banking experience in operations. Excellent opportunity for a professional banker with degree. Send resume to File No. WHF c/o Northwestern Banker. (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. WHN c/o Northwestern Banker. (PA) SENIOR LENDING OFFICER. N.E. Iowa commercial bank —$200MM total assets, $100MM total loans—seeks indivi dual to direct and manage all lending functions. Portfolio includes commercial, consumer, agriculture & real estate credits. Senior management position. Top salary and ex cellent benefits. Forward resume to File No. WHO c/o Northwestern Banker. E.O.E. (PA) Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 PO SITIO N S AVAILABLE PERSONAL TRUST Leading trust dept seeks professional w/2 + yrs exp in per sonal trust w/strong bank. JD is not mandatory, will handle 100 or more accts dealing w/estate planning, probate & bus dev. $32K. EX VP Are you a proven leader who has gone as far as you can in present institution. One of the MW leading Irg banks seeks indiv w/strong consumer/comm’l lending, mgt of mrgs & excel mrtg skills who has been in $380m or larger environmt. $80K. COMM’L LOAN OFCR Mpls based bk has pos in beautiful facility for lender w/3 + yrs comm’l & professional loans & strong bus dev skills. This pos open due to expansion & is worth hearing more about. $38K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS M1 RO BKRT MVLF M> M► 317 6th Ave, Ste. 650 Ì Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID HUMAN RESOURCE REP.—Need heavy EDP ex perience in recruiting and Knowledge—Need Generalist experience including Wage and Salary Omaha. To 40K. GENERAL LOAN Experience including commer cial and some ag. $55 Million bank in N.W. Iowa. To 40K. SECONDARY RESIDENTIAL MORTGAGE SEL LER—Need 3+ years in selling loans to other fi nancial institutions $30,000 base plus commis sions. Should be at 50K end of first year. Omaha. All fees are paid by our client employers. Richard L. Beem, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We’re Nationwide B A N K IN G ■ TRUST DEPT. HEAD. Law degree and 4 + years gen- 1 eralist experience in banking or private practice to 1 IJ head up $35mm Trust Dept. Located in upscale com- 1 B m u n ity .................To$45,000....................Call Marj. I COMMERCIAUAG LENDER. Management ability I can lead to #2 spot in $55mm bank. Solid Industry I i | base provides potential to develop a $6mm commer- 1 cial loan portfolio. Full health, dental, 401K | ........................ $35,000........................... Cal I Steve, fj ■ REAL ESTATE DEPT. MGR. Origination and packag- | ■ ing of residential and commercial real estate loan 1 p experience for a growing metro bank in growth area, p \ Benefits, pension, 401K .. .$38,000. .. .Call Bruce. § || LOAN ADMINISTRATION. Bank examiner experi- 1 S ence. Knowledge of ag and commercial credit analy- fl | i sis and familiarity with micro computer for this pro- 1 f¡table bank! Good community - economically 1 p s tr o n g .................To$25,000.................... Call Marj. I pj V.P. COMMERCIAL LENDING. 3 + years active com- 8 || merciai lending to manage challenging and diverse *1 portfolio! Bank is strong! 401K, benefits, bonus 2 .................... To $40,000........................ Call Bruce. I COMMERCIAL LOAN OFFICER. Loan review and | If analysis for $100mm bank. Perfect for someone with I examining experience. College town 60 minutes N ■ from metro a re a ........... $25,000.............. Call Steve. | 1CREDIT ANALYST. 2 + years big bank, commercial | credit and desire to move into lending to land this 3 ■ holding company position .T o$30,000. .Call Marj. I ijS R . LOAN OFFICER. Oversee commercial, real es- § tate and consumer portfolios. Direct staff supervi- 3 sion and involvement in business development. ] Strong lending background in commercial with offi- I (leer supervision. Profit sharing, 401K, etc. U .................... To $55,000........................ Call Bruce. | |A G LOAN OFFICER. Strong cash flow expertise | with analysis and documentation make you an im- 1 Important part of $52mm bank. Farm visits, appraisals | and livestock inspections provide plenty of fresh air I 2 ........$35,000........................... Cal I Steve. • (personnel 1126 So. 72nd St. Omaha, Ne. 68124 SHARP SF756 PLAIN PAPER COPY MACHINE. V/t yrs. old. Always been under serviceagreement. $875. Call Westchester Savings Bank at (319) 698-2225. (FS) KARDEX CHECKVEYER like new. Has been under main tenance agreement. Model #KVS80. Contact Roger Huinker. (319) 382-2991. (FS) BURROUGHS S3610 POCKET PROOF MACHINE, 2 megahertz clock, 512KB memory, auto feeder, 2 disk drives, sync data comm controller. Contact Ed James (412) 352-5300. (FS) 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 Des Moines, Iowa 50309 515-243-8064 u n ci C^hiOCLCLtES. Bank Consultants Specializing in Bank Acquisitions P.O. Box 450 515-232-0814 405 Main Ames, Iowa 50010 D o n a l d E. H o l d e r , Principal POSITIONS AVAILABLE CASHIER - $25MM Ag Bank. Requires background with inhouse minicomputers and some knowledge of Agri Loans. $30K 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. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970" Vol. 15 No. 33 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 Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden Digitized forSt., FRASER #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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