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Vol. 10 No. 34 * Des Moines, Iowa December 14,1981 Banks’ IR A Pricing Seeks to M axim ize Customer Return NE common element noted in a broad range of methods selected by banks for pricing IR A accounts is the goal of giving the bank customer a fair market rate of return. This is keeping banks highly competitive with other types of financial institutions who are also gearing up to get a share of the ex panded IR A market that will be available on January 1, 1982. On that date, all workers, re gardless of whether they have an ap proved retirement plan at their place o f employment, may open a personal IR A account and deposit up to $2,000 tax free each year. It is estimated by the American Bankers Association that this market encom passes 40 million workers and could mean anywhere from $40 to $80 billion deposits annually. The N o r t h w e s t e r n B a n k e r con tacted banks in a few major cities last week to determine what IRA pricing methods will be used for the new accounts. Banks may offer a fixed rate of return or a variable rate. Generally, most banks con tacted have tied their pricing to Treasury bills and notes in some way. One notable exception is Security National Bank of Sioux Ci ty, la., which has decided to base its variable or floating rate at 3% points below the Citibank prime lending rate, using a daily average for a three-month period. The rate O will be changed quarterly. Another interesting innovation will be tried at United States Na tional Bank of Omaha, which will guarantee a 10% floor initially on IR A accounts, tied to its floating rate computation. U.S. National also will offer payroll deduction through employers as an induce ment to workers to open IR A ac counts. First National Bank of Omaha has developed two slide shows to promote IR A accounts. One runs 12 minutes and will be used with small groups of customers, either in the bank or off-premises. The other runs for three minutes, is customer ac tivated and is designed for use in the lobby by individual customers. First National Bank of Lincoln will sign all its IR A accounts for ex piration December 31, 1983. Thus, accounts opened from January 1, 1982, through June 30, 1982, all will qualify within the required 18month term and all accounts will ex pire at the same time, eliminating the need to flag accounts for renewal on varying dates. Here is how some banks have said they will price IR A accounts start ing January 1, 1982: Iowa-Des Natl. Bank, Des Moines Fixed: Pegged to 52-week T-bill rate. Variable: 52-week T-Bill rate, changing monthly Bankers Trust, Des Moines Fixed: 18-month CD starting Jan. 1 @ 1 2 % , rate to be changed monthly for new accounts; or, 30-month CD (now 12.95%) set bi-weekly by Fed auction; or, 182 day MM certificate indexed to auction average of 26-week T-Bills, minimum $10,000. Variable: 18-month CD indexed to 90-day T-Bills, simple interest, changed monthly. United Central Bank of Des Moines Fixed: CD @ 12% on 18-month Treasury notes, new rate monthly. Variable: 11%% based on 18-month Treasury note average. Security Natl. Bank, Sioux City Fixed: 18-month CD based on average between one-year T-Bill and two-year Treasury note, $1,000 minimum to open. Variable: No minimum deposit, time open account based on 3Vi points under Citibank prime lending rate, figured on daily average for three months. Sioux City bank Fixed: 11Va% money market rate, guaranteed for 18 months. Variable: Based on 90-day T-Bill on last auction before the next quarter. First National Bank, Omaha Fixed: Bank’s 30-month CD rate plus one-half (%) of one percent. Variable: 18-month passbook based on six month T-Bill auction average IR A PRICING... Continued on page 4 C A LL O N TH E “PE R FO R M A N C E TE A M ” where com m on transactions are handled uncom m only well. \ IIIIÜ H III FIRST N A T IO N A L L IN C O L N 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Dorothea Wolfe IOWA . Team w ork: O ne of the reasons we’re first in Iowa. nesMoines m aF M A NATIONAL BANK □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. Please Contact: J. Mason Henry Charles E. Walters Co., Inc. An Affiliate of Northwest Bancorporation Mem ber FDIC Iowa News AM ES: Mary J. Hage has been pro moted to vice president from assis tant vice president at University Bank, with responsibilities in the in vestment and trust areas. She joined University Bank in 1947. CEDAR RAPIDS: Ted J. Welch, chairman, Peoples Bank and Trust Company, announces the appoint ment of Peter B. Welch to assistant trust officer. A Cedar Rapids native, Mr.Welch received a BS in finance from San Diego State and an M BA degree from Pepperdine University of San Francisco. He served six years as a nuclear submarine supply/fiscal officer. ASK JOHN MANGOLD to make MNB work for you. Toll free 1- 800- 332-5991 39 Ginger Woods Road, Valley, Nebraska68064 Phone: (402) 553-6400 Cyndi W atkins W ire Transfer A native of Independence, he re ceived a BS degree in 1980 from Iowa State University. Banco Call (515) 245-3131 or toll-free (800) 362-2514 COLLINS: A. Emsley Chittenden has contracted to sell his controlling interest in the Exchange State Bank to Wm. W. Burrell, Joseph L. McKlveen, Jerry D. Rhodes and Carl G. Riggs. Mr. Chittenden will continue on an inactive status as president of Exchange State. He is also chairmen of the Farmers Savings Bank, Mitchellville. No other personnel changes are planned. Mr. Burrell is senior vice president, Community National Bank & Trust Co., Knox ville. Mr. McKlveen is director and Mr. Rhodes president of First Na tional Bank in Prairie City. Mr. Riggs is president of Tingley State Savings Bank, Mt. Ayr. COUNCIL BLUFFS: First National Bank’s board of directors has elected Rita Uhlhorn to the position of vice president. She has been with the bank two years in the corporate services department. N EVAD A: Controlling interest in the Nevada National Bank has been sold by Sam McHose and his family to Mike Yanney, John Hughes and Carl Rapp of Omaha. Mr. McHose, who was chairman and CEO will continue as chairman. Mr. Rapp has been elected president to succeed Marvin Logan, who has resigned from the bank. There are no other personnel changes. MASON CITY: Daniel J. Zitelman, 28, has been elected ag loan officer. OSCEOLA: D.R. Wubbena, presi dent of Osceola State Bank has an nounced the appointment of Forest T. Lewis, executive vice president, with full responsibility for the downtown office here. Paula Baker and Vicky Baughman have been elected vice presidents. Lyle Persels has been promoted to cashier. SIBLEY: Ronda L. Hollensbe, CPA, has been appointed trust officer at The First National Bank by Leo E. Carlson, president. She moved to Sibley from Waterloo where she was employed by DenHartog & Hogan as a staff accountant. SIOUX CITY: Dick L. Coffman, assistant vice president in the farm and ranch management department of First National Bank, has been awarded the title of Accredited Farm Manager by the American Society of Farm Managers and Rural Appraisers. WATERLOO: Announcement has been made of the election of Timothy J. Brodahl to trust officer. Mr. Brodahl has been with the bank since 1981 as administrator in the trust department. Nebraska News LINCOLN: The Federal Reserve Bank of Kansas City has approved the application of Lincoln State Company Inc. to become a bank holding company for Lincoln State Bank. S in g le S y s t e m B a n k in g W ith -J ¡111 A v a ila b ilit y Merchants A National Bank 151 Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A 'BANKS OF IOWA' BANK Availability of funds. .. availability of people... responsive to your needs. National Bank of V\Merloo Waterloo, Iowa 50704 Member FDIC *. , i â m V Ü I Phone Milt Hennick a t 1 - 8 0 0 -7 7 2 -2 4 1 1 . Carleton D . Beh Company Investment Bankers / Financial Consultants 1300 Des Moines Building / Des Moines, Iowa 50309 5 1 5 /2 8 8 -2 15 2 NEW ISSUE MOODY’S RATING: * “Aa-1” $3,000,000 CITY OF ST. LOUIS PARK, MINNESOTA General Obligation Temporary Improvement Bonds of 1981 ^ Dated: December 1,1981 Denominations: $5,000 Both principal and a semiannual interest (December 1 and June 1, first coupon due December 1, 1982) paybable at the Harris Trust and Savings Bank, Chicago, Illinois. 0 IN THE OPINION OF COUNSEL THESE BONDS ARE FREE FROM PRESENT FEDERAL INCOME TAX. MATURITY _____________________ 8 1/4% _____________________ * • $3,000,000 December 1, 1984 8.40 LEGALITY TO BE APPROVED BY MESSRS. WORST, CARROLL AND PEARSON, P.A., ATTORNEYS, MINNEAPOLIS, MINNESOTA, BOND COUNSEL The City of St. Louis Park is situated in the Minneapolis-St. Paul metropolitan area immediately adjacent to Minneapolis on the west. The City comprises an area of 6,829 acres and the current population is 42,540. The City is a residential suburb with considerable diversified in dustrial development. These firms include grain elevators, chemical plants, warehousing, machine shops and metal-using industries. Some of the larger industrial taxpayers are Equitable Life Assurance Society, M.E.P.C. Corp., Northern States Power Co., Honeywell, Inc., General Growth Management Corp., Wickes, Minneapolis Gas Co., and Dayton Hudson. There are many diversified businesses and in dustries in the City, employing over 12,000 people which include Honeywell, Inc., Methodist Hospital, Prudential Life Insurance Co. and Westinghouse Electric Corp. The area is served by the Great Northern, The Chicago-Milwaukee, St. Paul and Pacific, the Minneapolis and St. Louis, and the Minneapolis, Northfield and Southern Railroads. Highway transportation is furnished by U.S. Highway 12, State Highways No. 100 (Belt Line), and No. 7. The Bonds are being issued for the purpose of providing funds to defray the expenses incurred or to be incurred in making local im provements within the City. FINANCIAL STATEMENT $1,311,586,068.00 340,000,000.00 Market Value, 1981 Estimate Assessed Valuation, 1981 Estimate 19.052.828.00 22.851.875.00 Net Direct Debt, Including This Issue Total Direct and Overlapping Debt Population: 42,540 Direct Debt Per Capita Total Debt Per Capita $447.88 $537.18 Tax collections have exceeded 99% of taxes levied for the la stthree years. We own and offer subject to prior sale and change in price and subject to our Attorney’s approving opinion: The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of particular maturity 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 Division of H u tto n & Company Inc. 4 1st Bank System M ay Buy Banks of Iow a Banks of Iowa, Inc., said last week it has agreed to be acquired by F irst Bank S ystem s, Inc., a M in n e a p o lis -b a se d m u lti-b a n k holding company, providing current laws are changed to permit the sale. The merger agreement announced expires in 15 years if the laws are not changed by then to permit the acquisition. Banks of Iowa owns Valley Na tional Bank in Des Moines as well as banks in Burlington, Cedar Falls, Cedar Rapids, Council B luffs, Davenport, Dubuque, Fort Mad ison, Ottumwa and Sioux City. The deal could be worth as much as $150 million to $250 million based on current values. If Banks of Iowa becom es more profitable before the merger is complete, the total value could actually rise much higher under terms of the agreement signed between the two companies. The proposal calls for First Bank Systems to pay at least IV2 times the book value of Banks of Iowa stock. As of Sept. 30 that was $43.71 a share, making the lowest price $65.57, assuming the book value doesn’t decline before the merger could be completed. Under a formula based on Banks of Iowa earnings, the price could be as much as 2Vz times book value, or $109.28, based on the Sept. 30 figure. In a related agreement, First Banks said it would buy the 21 per cent interest in Banks of Iowa cur rently held by Schwartz for about $27.3 million. The Minneapolis com pany said it intends to buy the Schwartz stock as soon as possible, perhaps within a few months. First Banks said it was buying the Schwartz block for l lA times book value, or aobut $54.65 a share. Under terms of the agreement, the Schwartz shares would be con verted into nonvoting common IR A PRICING... Continued from page 1 certificate computed on weekly basis and changed weekly, floor of 10% . of past 13 weeks plus one-half (V2 ) of one percent, adjusted monthly, com pounded daily, posted monthly and sending quarterly statements. U.S. Natl. Bank, Omaha Fixed: 30-month current ceiling rate fo r Sm all S avers C e rtifica te (minimum $500). Variable: 18-month certificate no minimum initial deposit, rate changed weekly; higher of 4-week moving average of past Treasury auction rates plus 25 basis points, or current average of 26-week T-Bill rate plus 25 basis points. Floor of 10% guaranteed for 18 months. Omaha National Bank Fixed: 11% on 18-month CD or 12.95% on 30-month CD. Variable: 18-month CD changed weekly, tied to 26-week T-Bill rate, compounded daily. A t December 8 rate, would be 11.34%. Marquette Natl. Bank, Minneapolis Fixed: Negotiable, at lesser rate than variable product. Variable: 18-month CD adjusted monthly, based on Marquette’s cur rent monthly prime lending rate less 3V2 points. Time open, minimum deposit $50 initially and each deposit thereafter. Northwestern Natl. Bk., Minneapolis Fixed: No product. Negotiable as desired by customer. Variable: 26-week Money Market https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis First Natl. Bank, Lincoln Fixed: Rollover or accumulation can go into 182-day certificate with $10,000 minimum, or depositor may choose 30-month CD with $500 minimum, compounded daily, same rate as paid presently — 12.20% on December 8, yielding 13.165%. Variable: Passbook, no minimum, rate changed monthly based on 182-day rate at first of month. stock, with specified dividends. By making the stock non-voting, First Banks is attempting to get around the provisions of federal law that prohibit bank holding companies from buying banks in other states. Banks of Iowa is the largest bank holding company based in the state. It controls 10 banks, and owns a mortgage banking company and an extensive banking computer opera tion. As of Sept. 30 its assets were about $1.4 billion. Its largest bank is Merchants Na tional Bank of Cedar Rapids, the state’s fourth largest as of Dec. 31, 1980. Banks of Iowa was founded 14 years ago in Cedar Rapids; its head quarters were moved to Des Moines last year. But by contrast First Bank System has 92 banks with 142 separate locations. As of Sept. 30 its assets were more than $14 billion. GET THE COMPETITIVE EDGE over savings and loan, credit unions, etc. This “ on-premise” system gives you complete inde pendence, competitive flex ibility and control. Lee Gunderson Heads Graduate School of Banking Lee. E. Gunderson has been named president of the prestigious Herbert V. Prochnow Graduate School of Banking at the University of Wisconsin-Madison. Mr. Gunder son was president of the American Bankers Association during 1980-81 and is A B A chairman this year. He is also president of the Bank of Osceola, Wis. He will succeed Dr. Herbert V. Prochnow, a co-founder of the School, who had been the Graduate School’s only director un til his retirement last September. BANK PLACEMENT SPECIALISTS (Our 33 rd year) Call experienced professionals to locate the right candidate for your vacancy . . . or the right “ move-up” for yourself. CORPORATE RECRUITERS MIDWEST BANKING DIVISION 202 S. 71 st Street 402/393-5515 Omaha, Nebraska 68132 Get tighter instantaneous reporting in every phase of you r op e ra tio n . At the sam e tim e reduce you r operating costs. A program for your every need — and m ore. The best banking system in the industry. M o d e rn B a n k in g S y s te m s , In c . 6818 Grover St., Omaha, Nebraska 68106 (402) 392-0151 Supplement to Northwestern Banker Newsletter 12-14-81 M ICR O C O M P U TE R S ARE HERE T O S T A Y AND FSI H AS T H E S O F TW A R E YOU NEED: CREDIT ANALYSIS: CASH FLOWS STATEMENT SPREADING FIVE YEAR PROFORMAS INTEREST MARGINS AGRICULTURAL: FARM PROFIT ANALYSIS GRAIN STORAGE STORAGE vs SELL LAND PURCHASE INTERNAL OPERATIONS: PAYROLL GENERAL LEDGER REPO CONTRACTS BUDGETING UTILITY PROGRAMS: VISICALC VISIPLOT DOW JONES QUOTES AG NET THESE ARE JUST A FEW OF THE PROGRAMS THAT ARE AVAIL ABLE FROM FSI. IF YOU ARE INTERESTED IN MICRO COM PUTERS OR NEED SOFTWARE, GIVE US A CALL OR RETURN THIS MAILER TODAY. 1___________________________________________________ . nnsnsiai systems, ms. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.O. BOX 2012 KEARNEY, NEBRASKA 68847 308-237-5995 ■ \ J Yes, we are interested in micro-computers for our bank. □ Send more complete information. □ We would like to arrange a demonstration. □ We would like to attend a micro-computer seminar. NAME _____________________________________________PHONE# BANK _____________________________________________________ ADDRESS __________________________________________________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis \ W e’re people you can turn to for investments. For investment services, data processing, ag lending and overlines . . . we’re the people you can turn to. We’ re m ore than western Iowa s largest bank. We’ re people. Stephen J . Hatz Vice President 712/277-6526 SECURITY N ATIO N AL RANK IN SIOUX CITY, IOWA. MEMBER F.D. I. C. LINCOLN: Steve McKelvey has jo in e d the N ebraska Bankers Association with primary respon sibility for managing the NBA blanket bond insurance program. His hiring coincides with formation of Nebraska Bankers Insurance and Services Co., the NBA-owned sub sidiary which will offer blanket bond insurance coverage to NBA member banks. O M AH A: John D. Woods, chairman and chief executive officer of the Omaha National Bank, has been elected to his second term as a direc tor of the Federal Reserve Bank of Kansas City. Elected to his first term as director of Federal Reserve Bank is Duane C. Acker, president o f Kansas State University in Manhattan. Minnesota News t t The Federal Reserve Board has announced its approval of the forma tion of these bank holding com panies and the banks they have ac quired: Security State Investments, Inc., Houston, Security State Bank of Houston; Maple Lake Bancshares, Inc., Security State Bank of Maple Lake; Citizens Bancorporation of Milaca, Inc., Ogilvie, Citizens State Bank of Milaca-Ogilvie, Milaca; Commercial State Bancorporation, Two Harbors, Commercial State Bank of Two Harbors; Adams Baneshares, Inc., Adams, Farmers State Bank o f Adams; Lake Crystal Bancorporation, Inc., Lake Crystal, Lake Crystal National Bank, and BANKING PLACEMENTS “ Successful Banking is Quality Personnel” t Eighteen years banking experience serving as president of rural and metropolitan banks enables me to find the “ right” banking position for you as a banker or the “ right” officer for your bank. D O N -ficH O O L E R In AND (S a w ASSOCIATES 901 A. West Jackson* Ozark, Missouri 65721 417/485-6020 COMPLETELY CONFIDENTIAL _____________“ Employment Service”____________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ____ © 1980 Security National Bank Buhl Bancorporation, Inc., Buhl, First National Bank of Buhl. M APLE GROVE: Northwestern Bank Northwest has announced the election of Richard L. Traut as assis tant vice president, Sue E. Muecke as manager of the Maple Grove Mall Office, and Marlene Schaller as in stalment banking officer. OWATONNA: David B. Hinsverk has been promoted to assistant vice president, Northwestern National Bank. Mr. Hinsverk has been with the bank since 1976. ST. PAUL: The Minnesota Consular Association has elected Ronald M. Bosrock as president. He is group vice president at American National Bank Saint Paul, is honorary consul for Austria and also is chairman of the international trade committee of the Saint Paul Area Chamber of Commerce. The Consular Associa tion is made up of foreign consuls representing governments of 23 countries. SERVING PROFESSIONALLY Banking, Financial & Business Personnel, Iowa and Nationwide Capital Personnel Service 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa50309 will conduct the seminars which will include discussions on changes in the law affecting IR A Accounts and K eog h p la n s. E a ch p ro g ra m (Bismarck, Kirkwood Motor Inn; Fargo, Holiday Inn) will run from 9:00 a.m. to 3:15 p.m. with luncheon and supplemental materials includ ed in the $60 registration fee. Montana News D EER LODGE: Robert J. Polish has reassumed his position as presi dent of Deer Lodge Bank and Trust Company. Majority ownership of the bank has reverted to the Polish family following the withdrawal of an application to purchase it. POLSON: Rick E. Skates has been promoted to vice president of First Citizens Bank. He will also serve as a director. Mr. Skates joined the bank in 1976 and his new duties will include managing the commercial loan department and acting as per sonnel officer and security officer. Colorado News DENVER: Central Bancorporation, Inc., has received preliminary ap proval from the Office of the Comp troller of the Currency for two na tional bank charters: Central Bank of Inverness, N.A. and Central Bank of Highlands Ranch, N.A. Both Illinois News banks are located in developing CHICAGO: Deborah L. Perry has business complexes south of Denver been promoted to personnel officer surrounded by growing residential and Brent A. Baum to assistant vice areas. president, as manager of the Illinois Center F a cility , b y N ational Boulevard Bank. R O C K F O R D : A le x a n d e r A . Rybicki, Jr., has been appointed controller of American National Bank and Trust Co. He has been auditor. North Dakota News Over half of the banks in North Dakota have already registered to attend the December 15 and 16 IRA seminars in Bismarck and Fargo, being sponsored by the North Dakota Bankers Association and state chapters of A IB and BAI. Col lin W. Fritz, a banking consultant and attorney from Des Moines, la. 6 r ■ □ My majority bank stock is for sale. • □ Thinking about selling your bank? 1 want to purchase majority stock in a bank. Please contact Ellis Jones, Broker 1 I • | JONES REALTY 205 South Eaton St. Lakewood, Colorado 80226 Phone:(303) 232-1189 | Consult with Homer Jensen or Dick Buenneke <zM otcLsx a n d c /h io a L a ts .* , Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 D o n a l d E. H o ld er , Principal 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 -1 5th Street Des Moines, Iowa 50309 _________Phone 515/244-8163________ Over 50 years’ banking experience No fee to seller 246 Insurance Exchange Bldg Des Moines, Iowa50309 Phone: 515-243-7434 Ag Lender for $40 m illion southern Iowa bank.................... ........................................................................................................$20,000 Installment Loan mgr. for Montana Bank................. $20,000 Ag-Oriented person for central North Dakota bank............ .............................................................................Salary open. Operations person with lending experience........... $28,000 Commercial Loan officer for eastern Iowa b a n k .. .$28,000 POSITIONS WANTED Trust Officer w ith 10 years experience. .Salary negotiable Ag Lender for northeast Iowa bank........................... $26,000 Ag Lender w ith Iowa State Degree........................... $24,000 Ag Lender w ith two years experience for S.W. Minn, b a n k .............................................................................$18,000 Installment Lender w ith experience......................... $23,000 Officer Manager In Minnesota bankw ith 3 years ex perience $1Z,000 CEO w ith excellent community bank experience. .$36,000 Number Two person w ith heavy lending and operations background.................................................................. $30,000 Write Malcolm Freeland, Freeland Financial Service, Inc., 246 insurance Exchange Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Company pays fee. POSITION AVAILABLE SENIOR LOAN OFFICER— Experience in ag lending ($50 m illion bank) In community of 8,000 population in northern Iowa. Salary open. Write File OBS, c/o Northwestern Bank e r_____________________________________________ (PA) AG LENDER—$50 million bank in central Iowa community of 4,000. Salary open. Write file OBV, c/o Northwestern Banker. (PA) WANTED: Employee benefits person capable of taking over aggressive benefits department in W yoming’s largest trust department. Salary commensurate w ith ability. Ex cellent benefits package. Position open immediately. Fur nish resume to: James Watson, VP/Sr. Trust officer, Wyoming National Bank, P.O. Box 2799, Casper, WY 82602. EOE/MF__________________________________ (PA) IMMEDIATE OPENING available in western Montana in mid-sized bank for an installm ent loan manager. Collec ting experience a must. Knowledge of student loans helpful. Write file OBX, c/o NWB. (PA) Write Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. FOR SALE Mosler Model FSW 1848 walk up teller unit. Never been used. Available immediately. First National Bank, Mlnden, Nebraska 68959. Phone (308) 832-2030. (FS) NCR 775-2100 12 pocket proof machine. Excellent condi tion. Has always been under maintenance contract. Hayesville Savings Bank, Hayesville, IA 52652. Phone (515) 622-2337. (FS) OPERATIONS—Good entry level spot In NE bank for in dividual w ith 4 yr degree plus some exp in banking. Will handle acctg and operations functions. Groom for cashier position. $13K. FOR FURTHER INFORMATION RESPONDINCONFIDENCETO: OÜO tsanK Division 004» of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID WANT TO BUY Used coin counting equipment in good condition. Contact John E. Dencklau, Farmers Savings Bank Vincent, Iowa 50594. Phone 515-356-4155. (WTB) MICROFILMING EQUIPMENT in good condition. Prefer Kodak for branch film ing. Contact Carolyn Dannatt, Brenton First National Bank, P.O. Box 100, Davenport, IA 52805. Phone (319) 326-4001. (WTB) JOB OPENINGS COMMERCIAL LOAN OFFICER: Large Texas Bank. Prefer large bank experience. Salary $30-40K depending on ex perience. MARKETING OFFICER: Prefer 5 years experience and pro ven performance. Would supervise marketing for a group of banks in eastern Nebraska. Salary $22-25K. CASHIER: $20MM bank in northeastern Missouri. Should have good record in operations. Salary $20-23K. FOR SALE OR LEASE AGRI LOAN OFFICER: Minimum 5 years ag loan ex perience. Ag degree required. Nebraska. Salary $30-32K. Good benefits. PERMANENT OR TEMPORARY—Sale or lease, financial facilities. Available immediately: 14'x60' In Nebraska, 14'x50' w ith 2 DUWs in Illinois, 14'x60' mobile-type in Missouri, 9'x12' teller buildings available, 14'x60'in Wyom ing. Permanent facilities to 4000 sq. ft. SON CORPORA TION, Box 684, Wichita, KS 67201, (316) 942-8167, call col lect. (FS or L) COMMERCIAL LOAN OFFICERS: Large SW Texas bank needs two experienced loan officers. Should have some Agri loan experience. Salary $28-35K. Write of call FINANCIAL PLACEMENTS, P.O. Box 13786, Kansas City, MO 64199 or 912 Baltimore, 9th Floor, Kansas City, MO 64105. Tom Chenoweth, Manager. Tom Cannon, Consultant. Phone: 816-421-7941. We are a fee paid employment service specializing in banking and related industries. POSITIONS AVAILABLE CONTROLLER—$400MM bank needs chief financial o f ficer. Position requires CPA and financial institution ex perience. $$OPEN OPERATIONS OFFICER—$25MM suburban bank af filiated w ith large holding company. Opportunity to learn lending and advance to second position. $25,000 COMMERCIAL LOAN—aggressive $80MM bank seeks ad dition to staff. Would be number two in department. $30,000 Sale o f Rare Coins When it comet to agriculture, banking and p erto n n e l. . . go to the specialists — go to AGRIcareers, Inc. Reliable and respected service for over 20 years Progressive bankers pay us to find the people they need. 913 Locust D es M oines, Iowa 50309 515-243-8064 #2 AG LOAN OFFICER—Central IA bank needs high im age, aggressive type currently in #2 spot, ready to move to #1. Medium to heavy ag lending exp. Insurance licenses a plus. Excellent oppty for career growth. $25K-$28K. SECOND OFFICER: Central Iowa bank of $40 million. Should have Ag degree. Salary $30k plus bonus and benefit package. Purchase of Collections Ben E . Marlenee Coins COLLECTIONS— Excellent growth potential for individual w ith collection exp in finance co or bank. South Dakota location. $12-$13K. MOVING TO NEW QUARTERS. Will sell walnut teller screens and walnut base panels. Units are twenty years old, traditional style. Available mid 1982. 8x10 color photos available. Would like to see these nice items con tinue to be appreciated in another bank. M.J. O’Brien, Cashier, The Old Second National Bank, P.O. Box 1088, Aurora, Illinois 60506. (FS) Estate Appraisals Used by bankers throughout the midwest C.E.O.—Thriving MN bank seeks officer knowledgeable in all areas of banking w ith emphasis on agriculture. Superior salary and benefit pkg, including stock owner ship. $35-$40K. POSITIONS AVAILABLE Trust Officer fo r m ajor Iowa bank.Requires law d e g re e ...........................................................................$30,000 Operations Officer w ith 3 years experience............. $18,000 PARTIAL LIST OF AVAILABLE POSITIONS 2 Ag Lend. O ff.. . . Cred. Mgrs. (2)___ Ag Loan Off. (2 )... Ag Loan O ff.......... Cred. Supv. & Anal. Branch Mgrs. (2).. Cent. W l. $16-22,000 .Cent. IA . $20-23,000 . . . . . . IA . $20-25,000 ..........W l. $18-25,000 .......... IA . $18-22,500 ........ NE . $18-25,000 Ask the ag banking specialists what’s available without cost or obligation. NEW HAMPTON. IA 50659 MASSENA. IA 50853 I (5151 394-3145 (712) 779-3744 aqnc4RERS,iNC. THE ORIGINAL AGRICULTURAL RECRUITER TRUST OFFICER—suburban $100MM bank offers growth opportunity to a trust generalist. Prefer 2-4 yrs. ex perience. $28,000 DATA PROCESSING HEAD—$160MM holding company desires senior systems analyst to design and implement new computer system. $35,000 JUNIOR OFFICER—rural $15MM bank has opening for operations officer with 1-3 yrs. experience. W ill train for cashier’s position. $16,000 ALL INQUIRIES CONFIDENTIAL. Your resume and salary history requested. TOM HAGAN & ASSOCIATES of Kansas City P.O. Box 12346, 2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 10 No. 34 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions $1.00 per copy, $15.00 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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