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Vol. 13 No. 34 Des Moines, Iowa December 10,1984 A fte r Letter from Nebraska Gov. Kerrey— F D IC Eases on Farm Loan Collections N R E S PO N S E to a letter from Nebraska Gov. Robert Kerrey to F D IC Chairman W illiam H. Isaac about a critical ag credit situation that has developed in Nebraska as a result o f five bank failures and two closings o f P C A offices, top F D IC officials met with two Nebraska Congressmen and then announced F D IC would exercise forbearance in the liquidation o f farmers and ranch ers loans in all states. The F D IC officials met with Rep. Doug Bereuter, Utica, and Virginia Smith, Chappell, both Nebraska members o f the U.S. House o f Rep resentatives. A fte r discussing the seriousness o f the plight o f farmers and ranchers who have been unable yet to renogiate their loans with other banks in the area where the failed banks are located, F D IC said it will ease o ff o f its policy under which it had been seizing all the pro ceeds o f those customers farm sales in order to apply the collected funds toward the customers loans out standing at the failed banks. F D IC said it would release up to 40% of commodity sales to farm and ranch loan customers so they would have money for maintaining their farm ing operations, including the daily home needs. Commenting on that meeting, Mrs. Smith said “ they assured us they would be more sensitive to the situation.” In his letter to Mr. Isaac, Gov. Kerrey cited the closing o f banks in David City, Verdigre, Cody and K il gore, as well as the Bank o f Niobrara in late 1983. He said “ These closings have had a severe impact on the farm ers and ranchers in and around” those communities “ and we are all facing a crisis o f significant magnitude.” Gov. Kerrey said the closing of P C A offices in Valentine, where the Cody and Kilgore banks were lo cated (Newsletter o f Nov. 5), and O ’Neill, near the recently closed Bank o f V e rd ig re (N o v e m b e r N orthwestern B anker ) have ex acerbated the problems. Those three failed banks were taken over from F D IC by other banks in the area. They assumed as many loans from F D IC as they could. Apparently, the remaining loans that F D IC was trying to liquidate created the crisis addressed in Gov. K errey’s letter to Mr. Isaac. In his letter, Gov. Kerrey said, “ I implore you to work with us as we attempt to address this potentially explosive issue in our state. While I under stand full well that F D IC is not a lending institution, there must be some reasonable middle ground upon which rational discussion can proceed in an attempt to work through the immediate problems which resulted from the closing o f the four banks. “ M any o f the families directly af fected by the closings need some op erating cash to survive the winter and to enable them to make an effort to regenerate their business. In most cases, a cooperative strategy de signed to minimize the hardship to the individuals and minimize the ultimate loss to the F D IC is surely achievable if we communicate effec tively and work together.” In closing, Gov. Kerrey added, “ I am asking for your immediate and direct assistance to work together with us as we try to deal with the consequences o f this economic disas ter.” That letter was dated November 21 and the final arrangements an nounced at the meetings with Reps. Bereuter and Smith were announced in Washington, D.C., December 4. F D IC said its action would affect the treatment o f similar circumstan ces in all states. The Nebraska Bankers Associa tion had expressed concern about how the farm and ranch families were going to be served adequately following the failure o f banks in ag areas. When informed of the deci sion arrived at by F D IC in consulta tion with Reps, Bereuter and Smith, N B A President A.C. “ Skip” Hove, Jr., chairman o f Minden E x change Bank said, “ W e are pleased Call on the “Experienced Professionals” Ready to meet your correspondent needs. FIRST N A TIO N A L LINCOLN 13th & M Streets, Lincoln, Nebraska 68501 A Firslier Company https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member, F.D.I.C. ference early next year. For more information contact: Alda Post at IB A headquarters in Des Moines. Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank iii DES MOINES, IOWA 50304 A BANKS OF IOWA BANK Member FDIC Cabinet Council which is studying possible F D IC reform. Mr. K ing said the I B A A special committee opposed 100% deposit in surance coverage, for fiscal as well as philosophical reasons. He listed these specific recommendations of the special committee: • Retention of $100,000 deposit coverage; IBAA Lists Points for • Risk-related premiums based on Deposit Insurance Reform C A M E L ratings, with a significant Jack King, president o f the Inde differential between risk categories pendent Bankers Association of and a separate assessment to ac America and president o f Valley count for the systemic risk posed to Bank, Kalispell, Mont., has sent to the F D IC and Treasury Depart Treasury Secretary Donald Regan ment; the recommendations made by • Assessments on foreign depos I B A A ’s special committee on depos its at an equivalent level to those on it insurance reform. Mr. Regan also domestic deposits; is chairman o f the President’s • The removal o f insurance on deposits o f federal government agencies and all brokered state and local deposits. The retention o f in surance on state and local govern ment deposits and deposits placed directly by financial institutions; • Capital requirements equivalent to those met by commercial banks for thrifts which are empowered to take demand deposits and make commercial loans; parity which should be phased in over six years. that F D IC has responded favorably to Gov. K errey’s request for a greater understanding and forbear ance in this crucial issue. W e must get through this difficult period and retain the integrity o f our small towns and banks.” □ ASK DOUG KEIPER to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank IS I Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Iowa News A new telephone system has been installed for Iow a Independent Bankers in headquarters offices at 1000 Carriers Bldg. The new number is (515) 245-3886. * * * December 15 is the deadline for submitting entries to the Iowa Bankers Association Best of Iowa Bank Marketing competition. A n y marketing program initiated and completed by your bank be tween September 1, 1983 and A u g ust 31,1984 can be entered in one of six categories. Winners will be an nounced at the IB A Marketing Con G R U N D Y C E N T E R : Grundy Na tional Bank recently announced the appointment o f K evin Swalley, C PA, to the staff as assistant vice president. A U N I graduate, Mr. Swalley served with several area firms prior to his joining the bank’s staff. M ost recently he was a busi ness consultant for United Suppliers in Eldora. H IL L S : Thomas L. Kriz has joined the staff o f Hills Bank and Trust Company as a general bank officer, according to John Hughes, presi dent. S IO U X C IT Y : First National Bank in Sioux City has announced the pro motion o f Jacquelyn J. K o tt to real estate loan officer. Ms. K o tt joined the bank in 1978 and most recently served as mortgage loan supervisor. V IN T O N : The State Bank of Vinton recently announced the appoint ment o f Brian J. Brown as loan offi cer. Prior to moving to Vinton, Mr. Brown was assistant agricultural loan officer at the Northwestern State Bank o f Orange City. Nebraska News L IN C O L N : Donald R. Stading was recently elected vice president of National Bank of Commerce. Mr. Stading joined N BC last summer as staff legal counsel to work with the lending divisions. Prior to that time he served as associate legal counsel for Banker’s Life. Minnesota News The American Institute of Bank ing Minneapolis has announced several upcoming seminars. December 12 — A IB Manage ment and Supervisory Skills Semi nar, A IB Education Center, Minnea polis; December 13 — A IB Customer Relations/Telephone Transactions Seminar, A B I Education Center, Minneapolis; January 17 — A IB One-Minute Manager Seminar, A IB Education Center, Minneapolis. ST. P A U L : Bremer Financial Ser vices, Inc., has announced the addition of Cindy R. Davidson to its q # % _ ™ * 0 ^ FINALLY . . . Is your bank looking for an Asset/Liability Management program that is both simple and understandable? The bankers at Independent Community Bank Network have developed just such a program for you. One that provides you with quality reports which contain only the information you need to effectively manage your interest sensitive assets and interest sensitive liabilities. Our program is easy because it deals with very few reports and requires limited data entry time, making the process less complicated than other programs. And it allows you to examine all the “ what ifs” during the decision making process...providing you with the necessary information to .budget and reprice more effectively. So if you’re looking for Asset/Liability Management made simple...simply give us a call. INDEPENDENT COMMUNITY BANK NETWORK, INC. r .............. .. ............................ 1 I □ YES. I want to find out how easy Asset/Liability Management can be. Please send me informa tion on how I can get set up on ICBN’s Asset/Liability Management program. I NAME I INSTITUTION I ADDRESS _ I CITY ______ ■ TITLE STATE Mail to: INDEPENDENT COMMUNITY BANK NETWORK, INC. Corporate Offices: P.O. Box 1126 Norfolk, Nebraska 68701 Phone: 800-228-3014 In Nebraska (402) 371-3407 L - - - - - - - - - - - - - - - - - - J https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 12-10-84 When you needed it yesterday, call vs today! Public records information is easy to get when you call Iowa Public Records Search. In fact, we’ll give it to you over the phone ...in two minutes or less. □ UCC Searches and Filings, State and County □ Federal Tax Lien Searches □ Corporate Searches □ Special Information Ser vices, Local or Nationwide Iowa Public Records Search... for the information you need, when you need it! IOWA PUBLIC RECORDS SEARCH, INC. # 2 Corporate Place, 150142nd Street West Des Moines, Iow a 50265 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ( 515) 223-1153 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis staff as senior auditor. Ms. D avid son previously was with First Bank System. • 0 • £ ^ q RO CKFO RD : Shirley L. Huston has purchased controlling interest in the Rockford State Bank and will serve as chairman, vice president and cashier. In addition, Steven J. Weisz was elected president and a director. Ms. Huston has been with Rockford State Bank since 1980, most recent ly in operations and personnel. She has also served as a director since 1981. Mr. Weisz has been with the bank as CEO since January, 1983. Prior to that he was president and a director of First National Bank of Buhl. S T IL L W A T E R : Steven E. Zinnel has been named president o f Norwest Bank Stillwater. H e succeeds James C. Graham, who will now as sume the position o f chairman and chief executive officer. Mr. Zinnel joins the bank from his previous position as vice president and manager of the commercial banking division’s metro business unit at Norwest Bank MetroWest, N.A., Hopkins. Mr. Graham has been president o f the Stillwater bank since 1974. Illinois News 0 • 0 • C H IC A G O : W eston R. Christopherson, 59, has been elected chairman and CEO o f Northern Trust Com pany. He succeeds Philip W .K . Sweet, Jr., 56, who announced last April he planned to take early retirement. Mr. Christopherson formerly was chairman and CEO of Jewel Companies, a large midwest grocery and drug store chain that was pur chased last July by American Stores Co. H e has resigned as a director of Continental Bank o f Chicago to take the Northern chairmanship. Charles H. Barrow continues as president and David W . Fox and Robert F. Reusche as vice chairman. ^ E L M H U R S T : Robert G. Girolamo, Sr. has joined the staff of Elmhurst National Bank as vice president in the corporate banking division. Mr. Girolamo has been in banking 28 years, most recently as vice presi dent and senior loan officer with Elmhurst National, which he joined in 1975. ® G A L E S B U R G : First Illini Bancorp, Inc., the holding company formed in 1983 by First Galesburg National Bank and Trust Company, has completed the acquisition of Abingdon ^ • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 An important new profit center for your bank: _ Contact: Leroy Bell or Milt Hennick a com pu terized local billing/credit service 319-291-5412 National Bank of Waterloo 315 East 5th St. • W aterloo, IA 5 0 7 0 4 Bank and Trust Company. Arthur Spires has been appointed president and Mark E. Horn will serve as vice president and loan officer. Mr. Spires will replace Rae C. Heiple, who is retiring from banking to re turn to law practice in Peoria. Mr. Spires joined First Galesburg N a tional Bank in 1970. Mr. Horn joined First Galesburg National in 1980. Member Federal ReserveSystemFDIC Colorado News D E N V E R : First Interstate Bank of Denver has announced the promo tion of John F. Steineger to senior vice president. Mr. Steineger, who is officer in charge of the funds man agement group in the bank’s treas ury division, was named vice presi dent in 1980. D E N V E R : Gary J. Roberts has been elected president and chief ex ecutive officer of United Bank of North Dakota News Monaco. These duties are in addi FA R G O : Lew Wilson has been ap tion to his existing responsibilities pointed vice president and commer as president of United Bank of Ara cial loan manager o f Fargo National pahoe. Mr. Roberts replaces Robert Bank and Trust Co. He previously W. Tschappat, Jr., who is pursuing was with Bank of North Dakota in other career opportunities. Mr. Bismarck as vice president in the Roberts joined United Banks in 1972. commercial loan division. Still Available. 1984 Bank Directories Accurate, up-to-date information on every bank in the state, concerning: • Officers and Directors • Deposit, Loan and Securities figures • Other offices away from main bank • Addresses and phone numbers • Departments within the bank and their officers • Correspondent banks used 1984 EDITIONS \s I J Q .S 1 Send me_________ „ copies of the 1984 edition of the NEBRASKA Bank Directory at $8.00 per copy. Nebraska — Nearly 200 pages. Iowa — Over 300 pages. Our check is enclosed for $___________ j__ (add state tax: Iowa @ 4% Nebr. @ 4%) C O N V E N IEN T TO U S E ...lies flat for reading or copying (pages 3 1/ . " x 61/ 2 "). O rders shipped by return m ail Send me__________copies of the 1984 edition of the IOW A Bank Directory at $12.00 per copy. Company Name __ ■ - - ■j City and stale NOTE: 1985 Directories available May, 1985. -------_ ----------— ■ ^ ■■ ■■— Officer Name______ ________________ s------S------------------> ■-•----------— P.O. Box or Street Address_________ ___________ ______i— , . — :— ;— ------— Phone ■ _È _______ _— ■ — ----- ;• : _____ ". ’ . -Z ip ----------—— ■' ’ ——— — ' ' - : ' —- Area Code NORTHWESTERN BANKER 306-15th St. Des Moines, Iowa 50309 W ANT ADS Rates are $5.00 per lin e per inse rtio n . Add $3.00 fo r file letters per inse rtio n . Id e n tity o f file le tte r advertisers cannot be revealed. NORTHWESTERN BANKER 306-15th Street Des Moines, Iowa 50309 Phone 515/244-8163_______________ BRADY & ASSOCIATES CONFIDENTIAL CONSULTING Loans: W orkouts, c o lle c tio n , d ocu m e n ta tion , training Positions Available SENIOR V.P.—#2 position in mid-size major hold. co. bank in central IA. Requires 10-15 yrs. bank exper. with proven credit skills In ag and commercial lending, strong adm inistrative exper. and a bility to take over #1 spot In near future. To $50K CEO— In charge o f bank operations, ag credits, col lections & supervising s ta ff fo r $40MM bank. Demands strong bank exper. MO. $35K-$40K. Linda 515/394-5827 New Hampton, la. 50659 ■ aqncareers, me. Budgets - Forecasts - Operations - Systems —J AG BANKING SPECIALISTS We can assist you w ith solutions to most prob lems 25 years o f banking experience. 2829 S. 148 Ave. Omaha, NE 68144 (402) 333-2224 or 5530568 LOAN WORKOUT SPECIALIST Available on a temporary or an Intermediate basis in an on line or advisory capacity for: • LOAN WORKOUTS • LIQUIDATIONS • DOCUMENTATION 22 years experience in acquisitions and liquidations, write: WBX c/o Northwestern Banker — A ll Replies Confidential — (PW) Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 doM ghoôlêrT AND o V l i l ASSOCIATES "Successful Banking is Quality Personnai' Jean 515/263-9598 (T/W/F) 712/779-3567 (M/TH) Massena, Iowa 50853 Financial Careers TRUST OFFICER skilled in trust documentation. Central Iowa lo c a tio n ............................................ Salary to $30,000 CEO fo r southern Iowa bank. Requires 5 to 10 years experi ence. College graduate p refe rre d ............ Salary to $40,000 COMMERCIAL LENDER fo r major Iowa bank. Prefer 3 or more years experience in metro market. Plus college back ground ............................ .........................Salary to $40,000 COMMERCIAL LENDER fo r m ulti-bank group. W ill head up $100 m illion loan p o rtfo lio ........................ Salary to $50,000 NUMBER TWO person fo r $100 m illion plus bank. Requires heavy loan experience in larger bank . . . . Salary to $60,000 COMMERCIAL LENDER w ith real estate experience for major Montana bank; located In scenic area .Salary Open INSTALLMENT LENDER fo r Montana bank, located in larger city. Requires banking experience Salary to $25,000 ' AG LENDER w ith some lim ited operations experience for com m unity bank in eastern Io w a ............. Salary to $30,000 |~ POSITION AVAILABLE SENIOR VICE PRESIDENT—The individual w ill supervise all loan departments. Requires Bachelor’s degree plus minimum five years’ lending experience. Salary commen surate w ith experience plus excellent benefits. Excellent career opportunity. Contact: Stew Afdahl, President Hawkeye Bank and Trust, P.O. Box 4068, Spencer, Iowa, 51301. Member Hawkeye Bancorporation. Phone 712/262-1940.___________________________________(PA) AG LENDER— Position available for individual w ith ag lending background in $65 m illion bank in Grafton, ND. Ap plicant should have minimum of three to five years ag len ding experience and strong business development skills. Send resume to: President, Norwest Bank Grafton, N.A., P.O. Box 580, Grafton, ND 58237.__________________ (PA) TRUST OFFICER fo r northern Iowa bank. Prefer person w ith legal degree to head up department . . . . Salary Open AG LENDER w ith 3 or more years bank experience and col lege degree fo r clean com m unity bank in southern Minne sota .............................................................Salary to $35,000 COMPTROLLER/Accountant w ith three to five years exper ience needed by $300 m illion midwest b a n k ...................... ..................................................................... Salary to $30,000 We have many other opportunities. Call or write Malcolm Freeland or Cy Kirk at Freeland Financial Service, Inc., 1010 Equitable Building, Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays reasonable fee.___________ AG LENDING POSITION— Eastern Nebraska. Opportunity to work w ith experienced ag lenders in servicing large portfolio. Ag degree required. Experience helpful, but not required. Reply to file: WCK, c/o Northwestern Banker. (PA) SENIOR LOAN OFFICER AND ADMINISTRATOR—This individual will manage entire loan portfolio. Extensive com mercial and supervisory experience required. Extremely competitive salary and benefits. $125 m illion bank. Con tact: J.P. Mansfield III, Pres./CEO, United Central Bank & Trust, P.O. Box U, Ft. Dodge, IA, 50501.______________(PA) Small Northeast Iowa bank seeks LOAN OFFICER w ith tw o to five years general lending experience. We are seek ing a candidate w ith varied skills who is capable of many responsibilities. Salary commensurate w ith experience. Send resume to file WCL, c/o Northwestern Banker. (PA) AG LOAN OFFICER—w ith three to four years banking ex perience. Must be fam iliar w ith microcomputers, cash flow, and documentation. Please send resume and salary requirements to: Eugene Schulke, Cashier, Corn Belt State Bank, Box N, Correctionville, IA 51016. (PA) ENTRY LEVEL POSITION in a bank. W ill graduate from UNI in December w ith BA degree in Financial Manage ment. One year experience in com m odity futures through coop education program. Worked extensively with hed gers and in conjunction w ith banks in setting up hedging seminars fo r farm clients. Very knowledgeable in options. Nick Evans, 210 Iowa St., Apt. 4, Cedar Falls, IA, 50613. Phone: 319/277-3166. (PW) CAREER OPPORTUNITIES FOR SALE AG LOAN OFFICER, No. 2 in rural central NE bank. Ownership available. Advancement poten tial. $30-40K. BURROUGHS EA2300 POSTING MACHINE-CALCULA TOR. Excellent for small business. Phone 319/827-1050. (FS) Sr. Loan Offflcer, No. 2 in $70mm IL bank, ag & commercial portfolio $40’s Eighteen years of banking serving as President of rural and metropolitan banks enables me to match you, technically and personally, with the right bank ing environment. DIEBOLD STEEL RECORD FILE—Chest style w ith electric top door. Fire rated. 50 cubic feet of storage for cards. Safekeeping and securities. Perfect condition. New cost, $12,000. W ill sell for $5,000 or trade a safe. Call Bob at First Nebraska Savings, Papillion, NE. Phone 402/331-2224. _______________________________________________ (FS) Sr VP, head $100mm portfolio, metro IA bank, commercial lending exp. required $40-60K. P O S IT IO N S C U R R E N T L Y A V A I L A B L E Missouri, Iowa Oklahoma, Kansas, Arkansas, Illinois, and Nebraska TWO NCR 7750 MULTI POCKET PROOF MACHINES. Con tact Dale Froehlich. Phone 515/964-4293. (FS) If you would like to be informed of positions as they become available and if you are interested in chang ing your present position, send your resume or phone Don Schooler, 417-882-2265, 2508 East Meadow, Springfield, Missouri 65604. Information on you w ill be kept confidential until you are inter ested in a specific position. METRO SUBURBAN PRESIDENT, $50mm bank .. ............................ $50,000 - $55,000 (Enc. Benefits) HEAD OF COMMERCIAL, $100mm + bank OPEN COMMERCIAL LENDER, $60mm bank, 12,000 population ..................................$35,000 - $40,000 BURROUGHS S-558 and S-595 SINGLE POCKET PROOF MACHINES. Both currently under maintenance agreement and in good working condition. Available immediately, price negotiable. Contact Mike M attson at First State Bank, Fremont, Nebraska, Phone 402/721-2500. (FS) BURROUGHS L-3000 POSTING MACHINE, good condition. Contact Monte Grubbs, Phone: 308/235-3663. (FS) COMMERCIAL LENDER, $80mm bank, 10,000 p o p u la tio n ....................................$35,000 - $40,000 HEAD OF LENDING, $120mm b a n k ...................... ....................................................... $50,000 - $55,000 PRESIDENT, small bank, growth area, excellent lo c a tio n ...........................................................OPEN #2 MAN, $35mm bank, small town $40,000 - $45,000 HEAD OF COMMERCIAL LENDING, $45mm bank Metro S u b u rb ............................... $40,000 - $45,000 HEAD OF OPERATIONS, $300mm Metro bank . . . .........................................................................OPEN PRESIDENT, $25mm bank, Agriculture oriented .. ....................................................... $40,000 - $45,000 POSITIONS AVAILABLE MARKETING - Degree. Need several years of banking or S&L experience in marketing. Omaha. $35-40K. CEO’s - Need 4 in West Iowa & Eastern Nebraska. Degree or not. Several years of banking experience, including management. $50-70K range. Call or send resume to: Richard L. Beem, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Barbara J. Rltta PROFESSIONAL RECRUITERS 6818 Grover, Omaha, NE 68106 Phone: 402/397-2885 POSITIONS AVAILABLE SR. COMM’L LOAN • $100MM com m unity bank desires ex perienced commercial lender w ith administrative ex perience to oversee all lending functions..................... $50K CEO ■$35MM bank w ith m ajority of loan portfolio in Agri credits. Work out situation w ith strong capital position. .. ............................................................................................$45K PRESIDENT - small Agri bank w ith few classified loans. Previous adm inistrative experience required............... $35K AGRI LOAN ■branch situation. Minimum five yrs. Agri len ding experience in bank environment required........... $35K COMM’L LOAN - prefer 5-7 yrs. comml lending experience in medium size com m unity bank. Could be second officer w ithin one year..................................................................$35K Additional opportunities 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” Voi. 13 No. 34 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fif teenth Street, 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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