Full text of The Northwestern Banker : December 13, 1982 : Northwestern Banker Newsletter, Vol. 11, No. 34

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Vol. 11 No. 34

Des Moines, Iowa

DIDC Creates Super NOW Account
ANKS throughout the nation
are being very secretive about
details of their proposed Money
Market Deposit Accounts until they
announce their plans on Monday
night, December 13, or on Tuesday,
December 14, the day the new ac
count officially may be offered. The
Depository Institutions Deregula
tion Committee, acting on instruc
tions from Congress, authorized the
new account on November 15.
At their meeting last Monday,
December 6, DIDC members voted
to include telephone transfers as
part of the six transactions per
month to which each MMDA is lim
ited, and a maximum of three of
those transactions may be checks.
Apparently, no regulation has been
detailed yet directing what shall be
done if a customer writes four
checks in one month. One of the
other unanswered questions is how
banks will handle the case of a
customer who writes three checks
per month, but four of them show up
in one monthly billing period.
Monitoring or policing such a reg
ulation is considered by banks to be
a real headache.
If the account falls below the
$2,500, it must revert to the NOW
account lower rate limit of 5Va% at
banks. Citicorp of New York an
nounced earlier its minimum will be
$5,000, while Continental Bank of

Chicago will go along with the
DIDC established minimum of
$2,500. It appears that most banks
will use the committee’s $2,500
minimum, although few institutions
are revealing any other details for
competitive reasons.
The DIDC pulled a surprise when
it approved a Super NOW account,
available January 5, 1983, that will

have an unlimited number of trans
actions against it and no interest
rate ceiling. Present NOW account
eligibility rules will apply to this
new account, which means it won’t
be available at this time to business
accounts, although DIDC has asked
for comment on that point to be dis
cussed at its March 1 meeting. The
new Super NOW, with unlimited
tran sactio n s—checking or elec
tronic-w ill have to carry a 12% re

December 13,1982
serve with the Federal Reserve. This
is estimated to cost nine or 10 points
and would mean an effective drop in
the rate to interested customers.
The new MMDA that may be of
fered December 14 will carry no re
serves for personal accounts and a
3% reserve for business accounts.
At their December 6 meeting,
DIDC members also lowered to
$2,500 the minimum deposit needed
for all other time instruments which
are offered from seven days to six
months.
The three DIDC banking regula
tors—Fed Chairman Paul Volcker,
FDIC Chairman Bill Isaac and
Comptroller William Conover—op
posed authorizing the Super NOW
at this time, stating that one step at
a time should be taken to offer
greater latitude to banks and S&Ls
and still be as least disruptive as
possible in management of the in
s titu tio n s . F H L B B C hairm an
Richard Pratt, Credit Union chair
man Edgar Callahan and Treasury
Secretary Donald Regan, combined
to outvote them 3 to 2 (Conover has
no vote), so all banks and S&Ls face
another round of new account
m arketing decisions prior to
January 5 while trying to get their
own MMDA off the ground. Mr.
Pratt and Mr. Callahan wanted un
limited checking with no restraints.
Chairman Regan offered the com
promise of imposing a 12% reserve

A S K T E R R Y M A R T IN
to make MNB work for you.
Toll free: 1-800-332-5991

Merchants National Bank m
Member F.D.I.C.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

A ‘BANKS OF IOWA’ BANK

The purchase is subject to regula
tory approval and tendering of at
least 80% of Plaza shares. Plaza
State’s assets exceed $90 million.

Gary McClimen

Team w ork:
One of the
reasons we’re
first in Iowa.

IOWA-.
nesMOines
A

m N A T K m BANK

Bemie Kersey

An Affiliate of Northwest Bancorporation D A n U J ^
Member FD ic

and confine the plan to personal ac
counts.
The DIDC called for comment on
other deregulation aspects it plans
to take up at its March 1 meeting. It
appears the DIDC may be moving
now for an earlier removed of all Reg
Q requirments, perhaps during 1983.
Banks and S&Ls reeilize they face
higher interest payments on depos
its with the new account they have
sought to remain competitive, but
edso face the reality of having to re
price edl their services in order to
maintain a proper balance and min
imize net profit loss. An IBA A
spokesman in Washington, D.C.,
said, following the December 6
meeting, “We would have preferred
they would not have issued the
Super NOW at this time, but only
have proceeded with this first step
of a Money Market Deposit Ac
count. It is a sad situation that
thrifts and credit unions could dic
tate what banks will be doing.”
Chairman Isaac apparently felt
the same way. He voiced strong op
position to authorizing the Super
NOW at this time and asked to see
what money flow studies had been
done to support authorizing such an
account. His testimony was ignored.
The IBA A spokesman said, “Nat
urally, there is great concern among
our member banks about the earn
ings impact of this (MMDA), al
though our members realize it was
necessary to do something so they
could compete. We are advising our
bankers to be cautious in designing

Call (515) 245-3131 or toll-free (800) 362-2514

the instrument and not necessarily
go with minimums. In other words,
they should price it right. I t was en
couraging to see that Citicorp has
set a $5,000 minimun of the new
Money Market Deposit Account.”
An ABA spokesman pointed out
the controversy that has arisen
regarding reserves required of Fed
member banks in relation to the new
MMDA. He said, “The Fed inter
prets the 1980 Monetary Control
Act, which has a phase-in schedule
of reserves, to apply to the Money
Market Account until March, 1984.
Consequently, member banks will
have imposed on them a 1.125% re
serve. The intent of Congress, and
the ruling of the DIDC is that the
personal account have no reserves.
If the Fed can’t correct this itself, it
wil look for a technical amendment
to be made in this lame duck session
of Congress.”
□

D ES M OINES: William D. Bunten,
who resigned November 1 as executive vice president of United Central
Bancshares here, joined First Na
tional Bank in Wichita, Kans., as
president and chief operating officer
on December 1. Mr. Bunten moved
to Des Moines in 1979 to become ex
ecutive vice president of United Cen
tred Bank. Previously, he had been
president of Merchants National
Bank of Topeka.
D ES M OINES: Charles Gustaveson
has been elected vice president of
the First National Bank in Albuquerque, N.M., and manager of the
bank’s largest branch office. Most
recently he had been president and
chief executive officer of Hawkeye
Bank-West in Des Moines.

MARSHALLTOWN: Clyde McEntire, Jr., 56, died December 4 after a
five month illness with amyotrophic
lateral sclerosis. Mr. McEntire was
known to hundreds of bankers in
Iowa and surrounding states in his
years of service with Deluxe Check
Printers, Inc. As zone manager, he
headquartered in Des Moines, but
he maintained his residence for
Iowa News
DALLAS CENTER: Bruce L. Sey many years at 1904 Knollwood
mour has been advanced to pres Drive in Marshalltown, la. 50158.
ident of Brenton State Bank. He Interment was held December 6 and
succeeds Roger Winterhof, who has a memorial service was held on De
been named vice president of loan cember 8 in Marshalltown. He is sur
administration at Brenton Banks, vived by his wife, Barbara; a daugh
ter, Kileen Rezac of Marshalltown;
Inc., in Des Moines.
two sons, Robin of Philadelphia, and
D ES M OINES: Officials of United B rett at home.
Central Bancshares, Inc., and Plaza
State Bank in suburban Urbandale SIO U X CITY: John W. Van Dyke,
have agreed in principle on terms for Jr., chairman of Toy National Bank
acquisition of Plaza State by UCB has also been named president of the
through an exchange of stock in bank to succeed Leslie H. Olson,
UCB for all common shares of Plaza. who served as president the past 11
years. Mr. Van Dyke said Mr. Olson
will continue with the bank in a
senior capacity supervising the transit area and accounting, funds man
agement and investments. Mr. Van
Dyke also announced that Dennis
Call Mark Christen for
Vellek was advanced to executive
any correspondent service.
vice president; Don Vaudt, vice
Call toll free (800) 622-7262
president, has been named manager
of the loan section; Stan Fredericks,
vice president, will head the cor
respondent bank division, and Rich
DES MOINES, IOWA 50304
A BANKS OF IOWA BANK
Breyfogle, vice president will head
Member FDIC
the ag department.

Professional ...
Responsive...

^
m

•

Valley National Bank i§i

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Federal Reserve Bank of St. Louis

"Opportunity
T a | | r«

r w Robert Scott,

I \ J i 1 I f t 9 O O O Correspondent Danker

C Ö i^ ® ä sV jl
röüNT

•

Minnesota News

L ITT LE FA LLS: The Federal Re
serve Board has given approval to
the application of Zappco Inc., St.
0 Cloud, to acquire the First National
Bank of Little Falls. Zappco owns
Zapp National Bank in St. Cloud,
which has $77.2 million deposits.
First National of Little Falls has
0 $25.7 million deposits.
ROCHESTER: Edgar M. Morsman,
Jr., vice president in loan admin% istration at Northwest Bancorporation, has been named president and
chief executive officer at North
western National Bank of Roches
ter. He will succeed John R. Coch# ran, who was recently elected pres
ident of United States National
Bank of Omaha. Mr. Morsman spent
11 years at U.S. National until mov
ing to Banco headquarters as vice
# president, loan administration, in
1980.

Illinos News
#

•

By a three-to-one vote, members
of the Illinois Bankers Association
voted November 30 at the Hilton
Hotel in Springfield to ratify the
proposed merger of IB A and the As
sociation for Modern Banking. The
A M BI board had approved the mer
ger when it was approved by execu
tives of both associations last Sep-

tember. The IB A constitution called
for ratification by members. IB A of
ficials held several informational
sessions around the state to give all
members an opportunity to learn
about and discuss details of the pro
posed merger. The Independent
Community Banks of Illinois offici
ally opposed the merger. The No
vember 30 IB A vote required ap
proval by two-thirds of those pre
sent and voting. Approximately 700
members reportedly were on hand
and 625 cast votes, with two of
those counted as spoiled. The final
tally showed 463, or 74%, voting for
approval, and 160 voting against
the proposed merger.

the application of Hebron Banshares, Inc., Omaha, Nebr., to
become a bank holding company
through acquisition of Security
State Bank of Hebron.

Montana News

The Montana Bankers Associa
tion will hold a workshop on the
recently enacted Gam-St. Germain
Bill on Monday, December 13 at The
Billings Sheraton in Billings. Mem
ber registration is $85, and $170 for
non-members. Registration starts at
8 a.m. The first session, featuring
Withholding, will be at 8:30 a.m.
The Garn-St. Germain Bill will be
discussed at 10 a.m., and The Com
munity Banker’s Perspective will be
OAKBROOK: Northern Trust Cor
given at 11 a.m. After lunch The
poration of Chicago has agreed to
New Money Market Account will be
buy 100% of the stock of First Se
reviewed at 1 p.m. The final session
curity Bank of Oakbrook, which had
at 2:45 p.m. will pursue a Cost
assets September 30 of $34 million.
Analysis Model. Adjournment is set
It will be acquired pursuant to a
for 3:45 p.m.
merger agreement that requires
regulatory approval.
M IL E S CITY: Directors of First
Bank Miles City have elected Gor
South Dakota News
don L. Bickle to succeed Robert L.
SIO U X FA LLS: A1 Severson, presi Reiquam as president and chief ex
dent, Northwestern National Bank, ecutive officer, effective December
announces the election of Donald C. 15. Mr. Bickle returns to Miles City
Anderson to executive vice presi after 18 years with First Bank
dent, branch administration, and Systems banks in Bismarck, N.D.;
Richard E. Brown to vice president, LaCrosse, Wis., and Albert Lea,
marketing/public affairs.
Minn. Mr. Reiquam previously an
nounced his resignation to become
North Dakota News
president of First Bank of Great
HEBRON: The Federal Reserve Falls. All the above banks are af
Bank of Minneapolis has approved filiates of F B S .

YAKE,
SPRENGER
AND JENNINGS
Getting it done for you.

Ernie Yake

Bill Sprenger

Tom Jennings

Commerce Bank ofKansascuy
_

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Federal Reserve Bank of St. Louis

MEMBER FDIC

234 -24 83

T
o lo n h n n o
Telephone

234 -26 25

T d -O flfin
(816) O
234-2000

23 4 -2 4 8 4

W ANT ADS

BANKERS AVAILABLE

Rates a r e $ 5 .0 0 per lin e per insertion. A d d $ 3 .0 0 to r tile
letters per insertion. Id en tity of file le tte r advertisers
cannot be revealed. NORTHWESTERN BANKER, 306-

Thinking about
selling your bank?

15th Street, Des Moines, Iowa 50309. Phone 5 15 /
244-8163.

Consult with

..........................................................................Salary negotiable.

Homer Jensen
or
Dick Buenneke

Real Estate Executive with 16 years experience in all

Over 50 years’ banking
experience
No fee to seller
1031 Carriers Building
Des Moines, Iowa 50309
Phone: 515-243-7434

Bank Examiner with eight years of experience. Strong in

TIME TEMPERATURE
• Steel Tabular Frame
• Pole Optional
• Reaieft Control

*3295
P.O . Sox M 3
Grand Island, Nebraska 6M 01
(308)384-0111

Nebraska. Must have operational as well as credit ex
perience. Agricultural background helpful. Excellent
salary and fringe benefits. Send resume and snapshot, in
com plete confidence to: Dave Doll, Box 209, O gallala,
Nebraska 69153.
(PA)

million b a n k ......................................................................$35,000

CPA/Chief Financial Officer of Thrift In s titu tio n ..................

p h a s e s ............................................................ Salary negotiable.

Insurance Agent with excellent production and manage
ment r e c o rd ...............................................................Salary open
loan analysis......................................................................... Salary $30,000

Marketing Executive with operations background................
............................................................................ Salary negotiable

Strong Second Man in community bank seeks new oppor
tunity ...................................................................... Salary $32,000

Ag Lender with ag degree and limited e x p e rie n c e...............
....................................................................................Salary $16,000

Cashier with college degree and four years experience . . .
....................................................................................Salary $23,000

WANT TO BCIY

POSITION AVAILABLE
SECOND OFFICER— for a com m ercial bank in western

Commercial Lender with eight years of experience in $100

Senior Ag Lender with college d e g re e ......... Salary $32,000

Individual wants to acquire Iowa or Nebraska bank. Con
tact M ike Keim at Thurman State Bank (IA) or phone
402/397-5161.
(WTB)

□ I would like to sell my
majority bank stock.
□ I would like to buy ma
jority bank stock.

#2 MAN— Handle operations duties & assist with Ag. Credit

BANK PLACEMENT SPECIALISTS
(Our 34th year)
Call experienced professionals to locate the
right candidate for your vacancy ... or the right
“ move-up” for yourself.

Please Co ntact: J. M ason Henry

CORPORATE RECRUITERS
MIDWEST BANKING DIVISION

Charles E. Walters Co., Inc.

202 S. 71st Street
402/393-5515
Omaha, Nebraska 68132

AVAILABLE NOW

Agriculture loan officer— position open immediately. Exper
ience required. Send resume to: Larry Grimstad, E.V.P., Se
curity Bank & Trust Co., P.O. Box 380, Decorah, IA 52101 .(PA)

SERVING PROFESSIONALLY
Banking, Financial & Business Personnel
Iowa and Nationwide

CAPITAL PERSONNEL SERVICE
714 U.C.B. Building, 515-283-2545
Des Moines, Iowa 50309

PERSONNEL OFFICER—$160 million Iowa bank seeking a
personnel professional with experience and working knowledgge of salary and benefits administration; employment
EEO/AAP; and staff planning and development. College de
gree preferred with 3-5 years of personnel experience (bank
ing or non-banking) required. Salary negotiable based on
qualifications and experience. All replies confidential. An
Equal Opportunity Employer. Write file RBO, c/o Northwest
ern Banker.
(PA)

AG BARKING SPECIALISTS
S IN C E 1968
(5 1 5 )3 9 4 -3 1 4 5
NEW HAM PTO N, IA 5 0 6 5 9
(7 1 2 )7 7 9 -3 7 4 4
M ASSENA, IA 5 0 8 5 3

BUSINESS DEVELOPMENT OFFICER— Iowa bank, member
of a multi-bank holding company, seeking individual with ex
cellent sales, marketing and business development skills
with ability to sell financial services including new products.
Needs to be a self motivator with 2-5 years experience in
selling/marketing. Salary and commission package nego'
tiable based on qualifications and experience. All replies
confidential. An Equal Opportunity Employer. Write file RBP,
c/o Northwestern Banker.
(PA)

SKI THE SUMMIT!!!
Three-Bedroom and Two-Bedroom, two bath
townhomes available for sale or rent. Most have
covered hot tubs on the deck. Prices range from
$114,000.00 to $119,000.00. Financing available.
Contact:

DWAYNE SMITH
Paradise Properties, P.O. Box S
Dillon, Colorado 80435
Phone toll free 800/922-2590

“J

NA TION W IDE

THE ORIGINAL AGRICULTURAL RECRUITER

POSITIONS AVAILABLE
Ag Lenders needed by four northern Iowa com m unity
banks. Prefer college degree and m inimum of 3 years
banking e x p e rie n c e .............. ................................To $28,000

3 0 0 O ffic e s
N a tio n w id e

rural bank. Handle Ag-credits and assist in general opera
tions of Insurance agency.
$28,000

PRESIDENT— Rocky Mountain area. Strong Ag-lending
background and knowledge of operations desired. Invest
ment possible.
$30,000 +
CORRESPONDENT OFFICER— travel southern Missouri
and Arkansas for major midwestern bank. Degree and
previous correspondent experience required.
$ DOE

Cashier for $60 million midwestern bank. Requires
minimum of 5 years experience in larger com m unity bank.
Lending knowledge h e lp fu l..................................Salary open

AGRI-LOAN— join

Number Two Person for Nebraska com m unity bank. Re
quires knowledge of operations/ag le n d in g ...........................
............................................................................Salary to $28,000

CASHIER— handle operations duties and assist with Agri

$20MM dept, with opportunity to
manage sam e in two years. Ag Degree and five years or
more Ag-lending experience desired.
$28,000
credits in $25MM rural bank. Insurance licenses a plus.
$25,000

COMMERCIAL LOAN— suburban bank with majority of

.................................................................................. Salary $25,000

portfolio in life m anufacturing and retail businesses.
Degfee preferred.
$26,000

Operations person for $35 million bank in major Iowa city .

SECOND OFFICER— rural bank heavy in Ag-credits.

............................................................................Salary to $25,000

Strong Ag Lender for $40 million bank in eastern Io w a ___
............................................................................Salary to $27,000

million b a n k ............................................................ Salary open.

523 N. Main St„ Carroll, la., 51401 712-792-2748 |

Call Brad Boe • 612/835-4466
7625 Metro Blvd., Suite 350 • Minneapolis. MN 55435

POSITIONS AVAILABLE

Executive V.P. with solid lending experience for $40

CAREER APPAREL

FINANCIAL SPECIALIST IN THE
TWIN CITIES AREA

LENDING/INSURANCE— excellent opportunity in $25MM

Office Manager for major western Iowa b a n k .......................

M a / iM o e k k - ^

Bankers Electronic Equipment, Inc.
Phone 308/384-5995
Grand Island, NE 68801

The Search and Recruiting Specialists

dOH CAREERS, INC.
L

NCR 775-2100 with MCR unit
(cassette capture) 12 pockets.
Eligible for NCR Maintenance.
We Deliver Results.

RECRUII LRS

Commercial Lender for m ajor Iowa bank . Salary to $38,000

Do you have a dress code problem in
your bank? Call us today to find out
how only $ 1 .0 0 per day per employee
will correct it.

W rite or call M alcolm Freeland, Freeland Financial Ser
vice, Inc., 1032 Carriers Building, Des Moines, Iowa 50309.
Phone 515/282-6462. Employer pays fee.

3 9 G in g e rW o o d s R oad, V alley, N e b ra s k a 68064
Phone: (4 0 2 )5 5 3 -6 4 0 0

Loans. In $25 million rural bank. Mail resume to: Box 477,
Hampton, IA 50441.
(PA)

Strong, aggressive Agricultural Lender needed for $35 mil
lion bank within 35 miles of Des Moines. Must have sea
soned experience in cash flow and analysis, direct farm call
ing, & work-out loans. Opportunity to be 2nd officer within
1-2 years. Salary commensurate to experience. Send resume
& salary history to file RBN, c/o Northwestern Banker.
(PA)

Number Two banker with extensive lending and opera
tions e x p e rie n c e ............................. ............................. $35,000

Correspondent Officer for $2 billion city b a n k ......................
............................................................................ Salary to $40,000
W rite or call Malcolm Freeland, Freeland Financial Ser
vice, Inc., 1032 Carriers Building, Des Moines, Iowa 50309.
Phone 515/282-6462. Employer pays fee.

Record of community involvement and some knowledge of
operations required.
$27,000 +
All inquiries co n fidential.
quirements requested.

R esum e'

and

salary

TOM HAGAN & ASSOCIATES
of Kansas City
2024 S w ift - Box 12346
North Kansas Cityy MO 64116
816/474-6874

“Serving the Banking Industry Since 1970”

Vol. 11 No. 33 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306
Fifteenth 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

Hutton
O ne Carriers Building
Des Moines, Iowa 50309
Telephone: (515) 243-1203

We own and offer subject to prior sale and change in price the following Pledge Orders:

MATURITY

YIELD

TAXABLE
EQUIVALENT
AT 46%

6-01-1983

6.25%

11.57

12-01-1983

6.25%

11.57

HARLAN, IOWA
Electric Revenue Pledge Orders
Interest: 6-1 and 12-1

6-01-1984

6.75%

12.50

TIPTON, IOWA
Electric Revenue Pledge Orders
Interest: 6-1 and 12-1

6-01-1984

6.75%

12.50

AM OUNT

M UNICIPALITY

$125,000

FORT DODGE, IOWA
Water Revenue Pledge Orders
Interest: 6-1 and 12-1

$675,000

GLENWOOD, IOWA
General Obligation Construction Warrants
Interest: 6-1 and 12-1

$ 50,000

$110,000

IN THE OPINION OF COUNSEL INTEREST ON THESE PLEDGE ORDERS IS EXEMPT FROM ALL PRESENT
FEDERAL INCOME TAXATION AND ALL PROPERTY TAXATION IN THE STATE OF IOWA.

Pledge Orders are issued in accordance with the provisions of Chapter 384, Code of Iowa, 1981, as amended, to
provide funds necessary for the construction of improvements to m unicipal utilities. In the opinion of counsel,
Pledge Orders are subject to the first lien of outstanding debt, if any, and together with such outstanding debt
are payable solely and only from the future net revenues of the respective municipal utilités.

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 are based.
Bonds of particular m aturity may or may not still be available or may now be available at a price or yield different from that indicated above.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 12-13-82

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

- F L E X '° 'p
K
can be an important
profit center for your bank

For more information contact:

FLEX-O-PAY
LeRoy Bell or Milt Hennick
national Bank o f Waterloo
Com puter Center

FLEX-O-PAY can be provided to your data
processing center so call them and
indicate your interestl

3 1 5 East 5th Street
Waterloo, Iowa 5 0 7 0 3
(319) 2 91-5412

An important new profit center for your bank.

introducing...

- F L E *'P "**4vP
.. .a computerized m
local billing/credit service.

A source of cash flow for local business.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

How I

1 . Your bank purchases existing accounts
receivables from local business on a
discounted basis with full recourse.

2 . Local business prepares charge tickets on
all future credit transactions and deposits
them with your bank daily.

works

3 . Your bank bills and initiates all accounting
thru your computer processing center.

4 . Consumers make all FLEX-O-PAY payments
direct to your bank.

Your Bank
Benefits
1. Generates important
income two ways:
a. Thru collections of
discounted accounts
receivables received
the first 3 0 days
b. Thru finance charges
on accounts with
balances over 3 0
days old
2. Keeps m ore credit dollars
locally.
3. Provides a valuable tool
to increase commercial
business.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Your Local
Businesses
Benefit
1. Their accounts receivables
are liquidated daily . . .
their cash flow improves.
2. Billing and collection
activities are eliminated.

Consumers
Benefit
One monthly professionally
prepared, easy-to-read
statement.
One monthly statem ent
includes all receivables with
businesses participating in
the program.
Consumers make one
monthly payment direct to
your bank.

Supplement to the Northwestern Banker Newsletter December 13, 1982

CALL ON THE “PERFORMANCE TEAM|J9

■

where comm on transactions are handled uncomm only well.

FIRST NATIONAL LI NCOLN
13th & M Street • Lincoln, Nebraska 68501 » Member, F.D.I.C.

Nebraska News
CHAD RON: The First National
Bank here was purchased recently
by Robert W. Isham for $1,410,000
at a public auction held on the prem
ises of First National Bank of
Omaha. Mr. Isham lives in Chadron
and operates a large ranch there. On
September 30, First National of
Chadron had assets of $22.5 million,
deposits of $21.9 million, and loans
of $14.9 million. The sale was con
ducted to satisfy an outstanding
bank stock loan. Mr. Isham, who
also owns First National Bank in
Gordon, where he is chairman and
president, will be chairman at First
National Bank of Chadron. Robert
Connealy, executive vice president
at First National of Gordon, also
will serve as president of the
Chadron bank.
OMAHA: Mark Sorensen has joined
the correspondent bank department
staff at First National Bank as an
agricultural representative. He is a
graduate of Iowa State University
and was with the Sioux City PCA
before joining the First.
V ERD IG R E: Bank of Verdigre has
received permission to transact a
trust business and change its name
to Bank of Verdigre and Trust Com
pany.

Minnesota News

M ADELIA: The Federal Reserve
Board has approved the application
of Madelia Holding Corp., to become
a bank holding company by acquir
ing The Citizens National Bank of
Madelia.

Illinois News
The special committee for the se
lection of the new Illinois Bankers
Association executive vice president
who will serve as chief staff admin
istrator of the merged IBA/AMBI
organization met on December 3 and
announced the selection of William
J . Hocter for that post.
Serving on the committee repre
senting the two associations were
Don Lovett, president of the IBA
and president of Dixon National
Bank, and Charles Wilson, ch airm an
of A M BI and chairman of First Na
tional Bank of the Quad Cities, Rock
Island. They mutually agreed on a
third member, who was C.C. Hope,
1979-80 president of the American
Bankers Association and vice chair
man of First Union Corporation,
Charlotte, N.C.
The committee was instructed to
select between Mr. Hocter and
Jam es W att, president and associa
tion executive officer of A M BI. A
professional research firm and an in
dustrial psychologist were hired to
analyze the job and provide a de
tailed recommendation, which the
committee had voted to accept if it
was comprehensive in its evaluation.
The committee praised the high
qualifications of both men.

all stock of the First American Bank
of Bensenville, including stock cur
rently owned by Mr. Wells and his
family. The price per share will be
approximately $185. A tender offer
for the balance of the stock also is
expected.
CHICAGO: Jam es A. Harris has
been promoted to senior vice pres
ident-trust division at Sears Bank
and Trust Company.
GALESBURG: Malcolm E. Lamb
ing, Jr., 48, was named president
and chief executive officer of the
First Galesburg National Bank &
Trust Co. at a special board meeting
November 30, according to Harold
F. Nichols, chairman and acting
chief executive officer. The appoint
ment is effective December 13. Pre
viously, Mr. Lambing was president
and CEO of the First National Bank
of Pennsylvania in Erie.
SPRIN G FIELD : Walter R. Lohman, chairman and chief executive
officer of the First National Bank,
retired November 30 as CEO. He
will continue to serve as chairman of
First National, and as president and
director of the holding company,
FirstBank of Illinois Co. John E.
Brubaker, president, has succeeded
Mr. Lohman as CEO.

North Dakota News
GRAFTON: Walsh County Bank
and Trust Co. has changed its name
to First American Bank & Trust of
Grafton.

The Minnesota Bankers Associa
tion will conduct a one-day work
shop on “Dealing with Bankruptcy”
at three locations in January: Holi BEN SEN VILLE: American Nation
EQUIPMENT FOR SALE
day Inn, Alexandria, on the 18th; al Bank and Trust Company and
Two fully equipped drlve-ln pods, one dual-control
Minneapolis Hilton, on the 19th, Thomas E. Wells IV have agreed in
uni-safe, and safe deposit boxes. Contact Bob
Kingsbury at the First National Bank In Sioux City.
and Holiday Inn North, Mankato, principle for American National Cor
Phone 712/277-0604.
(FS)
on the 20th. MBA Lending Commit poration to purchase substantially
tee Chairman Wayne Leboeuf, sen
ior vice president at Richfield Bank
& Trust Co., reports the workshop
will cover every major chapter of the
Bankruptcy Code, using lecture and
hypothetical problems to illustrate
situations commonly encountered
by bankers. Speaker for the event is
David Epstein, a nationally recog
Availability of funds. . . availability of people. . .
nized bankruptcy expert and pro
responsive to your needs.
fessor of law at the University of
Texas. Registrants will use a
Phone Bill Rickert
106-page manual prepared especial
at 1-800-772-2411.
Waterloo,
Iowa
50704
Member
FDIC
the workshop.
Digitizedly
forfor
FRASER

Single System Banking
With

Availability

National Bank o f W aterbo

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

WANTADS
Rates are $5.00 per line per insertion. Add
$3.00 for file letters per insertion. Identity
of file letter advertisers cannot be revealed.
NORTHWESTERN BANKER
306-15th Street
Des Moines, Iowa50309
Phone 515/244-8163
3 5 -4 5 % D isc o u n t on L am p s For
Y o u r M icro g ra p h ie E q u ip m en t

SITLER’S SUPPLIES INC.
Box 10 - 702 E. Wash.
Washington, la. 52353
Phone: Iowa 800/272-6459 or
319/653-2123

POSITIONS AVAILABLE

BANKERS AVAILABLE

CEO for m ajor midwestern bank. Requires strong lending
capabilities and adm inistrative track record . .Salary open

CEO of $40 million metropolitan banks seeks new oppor
tunity ......................................

Loan Review officer for Illinois banking g r o u p ....................

Senior V.P./Operatlons with heavy m arketing background

.................... Salary negotiable.

............................................................................Salary to $38,000

...................................................................................Salary $38,000

Strong Number Two banker for Nebraska community

EVP of $22 million bank w ants to move to Nebraska or

b a n k s ..........................................................................Salary open

K a n s a s .................................................................. Salary $35,000

Operations/Commercial Lender with 3 or more years ex

Loan Review Officer with 8 years exp. as national bank ex

perience .......................................................... Salary to $24,000

am iner ................................................................... Salary $31,000

Ag Lenders needed by eight Iowa community banks. All re

Number Two Officer with all insurance licenses wants to
relocate in community of 5,000 or larger or near one in
I o w a ....................................................................... Salary $25,000

quire ag degree and a minimum of two years ag credit ex
perience..................................Salary range $20,000 to $30,000
If you w ant to start the New Year by moving up in the bank
ing world, write or call Malcolm Freeland, Freeland Finan
cial Service, Inc. 1032 Carriers Building, Des Moines, Iowa
50309. Phone 515/282-6462. Employer pays fee.

Number Two Officer with strong ag lending and manage
ment skills seeks new job in central or southern Iowa . . . .
...................................................................................Salary $28,000
Operations/Lending Officer with four years exp. College
G rad......................................................................... Salary $23,000
Senior Ag Lender in multi bank group seeks number two
position in com m unity b a n k ............................Salary $32,000

Ag Lender with MBA from major university and 3 years ex
perience ................................................................. Salary $25,000

Ag Graduate from Iowa State and basic bank experience .

Estate Appraisals
Purchase of
Collections
Sale of Rare Coins

...................................................................................Salary $15,000
W rite or call M alcolm Freeland, Freeland Financial Ser
vices, Inc., 1032 Carriers Building, Des Moines, Iowa
50309. Phone 515/282-6462 in confidence. Employer pays
reasonable fee.

ASSISTANT VICE PRESIDENT
AG LOANS

Reliable and respected service
for over 20 years

Imm ediate opening in an Eastern Iowa Communi
ty Bank for an aggressive, outgoing, personable
individual with 1-3 years experience. Ag degree or
related agricultural experience preferred. In
dividual should possess ability and initiative to
analyze and service ag credit lines, as well as
develop and coordinate an educational marketing
program for farm customers. Loan com pliance
and farm record program are also a major func
tion of this position. Salary com m ensurate to ex
perience. Send resume to file RBQ, c/o North
western Banker.
(PA)

Used by bankers
throughout the midwest

Ben E . Marlenee
Coins
913 L o c u s t
D e s M o in e s , Iow a 50309
515-243-8064

POSITION AVAILABLE
POSITIONS AVAILABLE
SECOND OFFICER— for a com mercial bank in western

All positions are in Missouri, Iowa, Kansas, Arkansas, or Oklahoma

Nebraska. Must have operational as well as credit ex
perience. Agricultural background helpful. Excellent
salary and fringe benefits. Send resume and snapshot, In
com plete confidence to: Dave Doll, Box 209, Ogallala,
Nebraska 69153.
(PA)

President, $35mm bank, college town
$45,000
President, $4mm bank, small town
$35,000 - $40,000
Bond Department, Sales/Servicing, metro area, large,

Are you an aggressive, outgoing and personable individual
with 3 to 5 years of experience in bank indirect dealer
financing, and can supervise employees? Then our NW Illi
nois Bank would like to interview you for employment. We
can offer you excellent working conditions, liberal fringe
benefits and opportunity for advancement. EOE employer.
Send your resume to file RBM, c/o Northwestern Banker.(PA)
Strong, aggressive Agricultural Lender needed for $35 mil
lion bank within 35 miles of Des Moines. Must have sea
soned experience in cash flow and analysis, direct farm call
ing, & work-out loans. Opportunity to be 2nd officer within
1-2 years. Salary commensurate to experience. Send resume
& salary history to file RBN, c/o Northwestern Banker.
(PA)

BUSINESS DEVELOPMENT OFFICER— Iowa bank, member
of a multi-bank holding company, seeking individual with ex
cellent sales, marketing and business development skills
with ability to sell financial services including new products.
Needs to be a self motivator with 2-5 years experience in
selling/marketing. Salary and commission package nego
tiable based on qualifications and experience. All replies
confidential. An Equal Opportunity Employer. Write file RBP,
c/o Northwestern Banker.
(PA)

reputable, well established bond department with ex
cellent long term record
Open

Trust, Vice President, Employee benefits, metro area, re
quires background in employee benefit marketing & in
stitutional money m anagement
Open

Executive Vice President, Lender, $25mm small town bank
$30,000

Bond Department, Administrator/Sales, metro area, large
reputable, well established bond departm ent with ex
cellent long term record
Open

Commercial Lender, 3-5 years large bank experience re
quired plus a commercial lending school or equivalent and
a minimum of $15mm portfolio
Open

Cashier, $30mm bank, in town about 8,000
to $25,000
President, $50mm bank, suburb, holding company affiliate
to $55,000

Commercial Lender, 3 yrs. experience w ith a minimum of a
$7mm portfolio

Eighteen years of banking service as President of both rural
and metropolitan banks enables me to find the right banking
environment for you. Phone or send resume to: Don W.

Schooler, 901 A. West Jackson, Ozark, Missouri 65721.
Phone (417) 485-6020.

AG LOAN OFFICER — Minimum two years banking exper
ience required. Ag degree a plus. $60 million central Iowa
bank. Send resume to file RBR, c/o Northwestern Banker.
_______________________________
(PA)

Open

Positions available change as more openings become avail
able or as positions are filled. If you are interested in making
an advancement or change in your present situation, as a
candidate registered with me, you will be informed as posi
tions come available that would appeal to you based on
what YOU want in a bank, in salary, in location, and in size of
town or city. I do not reveal your name.to a client bank until
you are interested in interviewing.

A N D - t j i i i l A S S O C IA T E S

"Successful Banking is Quality Personnel"

Would you trust your money with a
sloppily dressed teller? Perhaps your
customers feel the same way. We can
change that for only $ 1 .0 0 per teller
per day.

jßieAMoekbK
CAREERAPPAREL
N. Main St., Carroll, la., 51401 712-792-2748 |

POSITIONS AVAILABLE
SECOND OFFICER — strong operations and some lending
experience required. $40M M com m unity bank.

$35,000

OPERATIONS OFFICER— need five years’ operations ex
perience and Accounting degree. Affiliate of major midwestern holding company.
$28,000

PRESIDENT— small country bank with concentrations of
credits in cattle and feeder lot operations. Must currently
hold adm inistrative position.
$32,000
AGRI-LOAN— handle Ag and some Installm ent credits for
$20M M country bank. Degree preferred.
$18,000

COMMERCIAL LOAN— addition to staff of $250MM bank.
Experience with secured com m ercial credits necessary.
$25,000

JUNIOR OFFICER — assistant to cashier of growing subur
ban bank. Degree and 1-2 years’ operations experience
desired.
$15,000
SENIOR LENDER— opportunity to head $80MM depart
ment in 1-2 years. M inim um seven years’ com mercial lend
ing in large bank.
$40,000 +
All inquiries co n fidential.
quirements requested.

Resum e'

and

salary

TOM HAGAN & ASSOCIATES
of Kansas City
North Kansas City, MO 64116
816/474-6874

“Serving the Banking Industry Since 1970”

Voi. 11 No. 34 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306
Fifteenth 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