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Vol. 15 No. 35 December 15,1986 Des Moines, Iowa rowers, their action groups, church groups and, yes, even the Congress speak out or take action against “the bank,” they should think seri ously about who constitutes that vague term “bank.” It is the bank owner(s), of course, but it also in cludes every stockholder, every em ployee, every depositor. And, when the local bank dies, the town dies or suffers critical trauma. All of these people, Senator, also are constituents entitled to your full dedication to those same principles of open-mindness, fair play, justice and integrity. Policies adopted to aid farm owners at the expense of “the bank” are policies impinging ad versely on all the other people behind “the bank” as we’ve just de scribed. Who speaks up in Congress for the rights of these “fam ily” peo ple to have their assets protected? The truth of the matter is, Sena tor, that legislation like Chapter 12, while designed to aid farmers in need, shifts the burden of that re maining debt to the wrong parties. Chapter 12, like so many Farm Plans voted by the Congress, was a societal decision that it is in the best interest of the nation that farmers be aided. It follows, then, that ef forts to shore up or save those farm ers who fall through Congress’ safe ty net should logically be taken care of by the social conscience of the en tire public, not just selected victim s An Open Letter to Sen. Grassley The Hon. Charles Grassley United States Senate Washington, D.C. ® ® ® _ * ^ ^ ^ 0 Dear Senator Chuck: When the people of our great State elected you to the Senate six years ago, then re-elected you last month for another six-year term, we did so because we were firm in our conviction that in you we have a per sonal representative in the Senate who is totally committed to the same high principles all of us treasure—open mindness, fair play, jus tice and integrity. With the fullest sense of these principles in mind, we ask you to take personal time, not just that of your staff but of your personal time, to come home for a few days and learn what your Chap ter 12 Bankruptcy is already doing in just the first two weeks since it became law at Thanksgiving time. In pursuit of your admirable goal to seek a course of action helpful to farm owners you have created a liv ing nightmare for many who are asked to do business with and sup port those same family farmers— namely, their lenders. Your bill, Sena tor, basically grants farmers the au thority of federal law to go into Chapter 12 and have their long-term farm land debt, for example, written down from the original loan basis to current market value. Any remain ing debt above that is arbitrarily declared unsecured and the lender, in effect, is told to swallow that loss. This, presumably helps the farmer restore himself or herself to solven cy. An admirable goal? Possibly. However, Senator, the laws of nature and science impose balance, whether we like it or not. Just because the balance of a farm own er’s debt is “forgiven” doesn’t mean the balance of that debt disappears. It is shoved back on the lender, in many cases the local bank, who must absorb this loss and all other sim ilar Chapter 12 losses occurring within his customer base. In the fragile economy in which our agricultural lenders have been operating the past 36 months, it will take only a few such “h its” to bring about the failure of some of our local banks—victim s of Congressionally imposed losses! Consider further, Senator, that many individuals and groups who in their frustration, anger or lack of in formation try to act on behalf of farmers by striking out at “the enemy”—i.e., “the banker,” “the lender” —are only picking out another key player in the highstakes game of farming instead of directing their energies at the root cause, which is the economic times, events and farm policies that have knit a complex trap. When farm bor AN OPEN LETTER.. . (Turn to insert page) C a ll o n th e “ E x p e r ie n c e d P r o f e s s io n a ls ” Ready to meet your correspondent needs. ^FirsTierB ank Lincoln 13th & M Streets, Lincoln, Nebraska 68501 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FirsTier Bank, N.A., Lincoln, Member FDIC HkH Norwest Bank Des Moines, N.A. mmmmm NORWEST BANKS Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC Teamwork: one of the reasons we’re first in Iowa. John Cretzmeyer Iowa News Jay Nichols Bank Compliance Symposium procedures mandated by the Money Laundering Control Act of 1986. Teleconference to be Held A number of state banking asso ciations, in sponsorship with the American Bankers Association and the Satellite Conference Network, will present a “Bank Compliance Symposium ’87” teleconference on Jan. 29, 1987 at several locations. The symposium is designed to pro vide a forum in which compliance of ficers, administrators and bank counsel can be appraised of regula tory and legislative developments. Expert panelists from hanking, legal and regulatory professions will out line methods banks can use to com ply with recent changes. In addition, the symposium will feature a discus sion of the additional compliance Minnesota: Hilton Inn, Minnea polis. South Dakota: H oliday Inn, Sioux Falls. Contact your state associations for more information and to register. Featured speakers will be the na tion’s top banking experts from the Federal Reserve Board, Comptroller of the Currency and Department of Treasury. Twenty states will be par ticipating in this year’s symposium. Among those locations around the nation where the teleconference will be received, the following North western Banker area locations in cluded are: Colorado: Denver. Illinois: Palmer House, Chicago; H yatt Regency O’Hare; Holiday Inn South, Joliet; Motor Inn, Rockford; Holiday Inn, Moline; Holiday Inn Brandywine, Peoria; The Chancellor, Champaign; Holiday Inn E ast, Springfield; Ramada Inn, Mount Vernon, and The Hilton, Collinsville. Iowa: Des Moines Area Communi ty College, Ankeny; Kirkwood Com munity College, Cedar Rapids, and Buena Vista College, Storm Lake. DES MOINES: John Chrystal has been advanced to chairman and con tinues as CEO of Bankers Trust Company. As chairman, he succeeds John Ruan, owner of Bankers Trust, who will retain the position of chair man of the executive committee. Dennis Wood has been promoted from executive vice president to suc ceed Mr. Chrystal as president and will also be chief operating officer. DUBUQUE: American Trust and Savings Bank has announced the elections of John L. Doellinger as vice president, mortgage loan de partment and Nicholas J. Schrup II as vice president, commercial loan department. Mr. Doellinger had been with Knutson Mortgage Corpo ration, Rock Island, 111. and Citizens Federal Savings and Loan Associa tion in Davenport. Mr. Schrup was vice president, South Bay Regional corporate banking group, First In terstate Bank of California. Nebraska News The Nebraska Bankers Associa tion will hold its 1987 Bank Director Forums on Jan. 13 at North Platte t's easier to talk Iowa banking with people who live it — people like Steve Brewer and the corre spondent staff at Bankers Trust. I C all 1-800-362-1688 or 515/245-2424. Dennis Earhart MNB Correspondent Banker Together We Can Accomplish Great Things B a n k e rs Tru s t Member FDIC Des Moines, IA Steve Brewer Commercial Banking Officer For Professional Correspondent Service Call 1-800-622-7262 Call 319-398-4789 or toll free 1-800-332-5991 Strength of \ Eastern J |owa_J Merchants National Bank Cedar Rapids. Iowa 52401 Member F D i C https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ThereJs A Difference In Banks... iSi A BANKS OF IOWA BANK Ifalley National Bank & Main Office - Sixth and Walnut DES MOINES. IOWA 50304 A BANKS OF IOWA BANK Member FDIC JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President BANKERS AVAILABLE S-1 E.V.P.— Eleven years of experience, has attended numerous banking schools, and expertise in all areas of banking. “ An ex tremely motivated, bright individual who can communicate with anyone,” quoting his former V.P. “ Knowledgeable, fair and honest,” were all comments made by a reference. U. of IL grad. $40,000. S-2 CEO— “ I’d hire him back in ten seconds,” quoting a former employer. Has been managing a staff of twenty two, all opera tions of a 25MM bank, along with overseeing a 17MM loan port folio. An outstanding leader with excellent credentials and becomes involved in the community. College grad. $50,000. S-3 A/C L.O.— “ Proficient with the computer, works in the farm credit program and handles the farm checking system. “ Like able, no bad habits, and he presents himself very well,” ex pounded a former supervisor. This individual works when it isn’t required and customers go out of their way to work with him. UNI grad. $10,000. S-4 AG L.O.— “ Never question his documentation ability because it has to be extremely good for our high requirements,” accord ing to his dept head. This individual trains new account officers, supervises five account officers, and has a total asset portfolio of 180 credit lines representing 10.5MM. Complete familiarity with collections and workouts. Waldorf grad. $20,000. S-5 V/P COMM— Fourteen years of banking experience. Commer cial, consumer and ag loan experience. “ He’s timely and has a good rapport with customers and the staff,” according to a refer ence. This individual likes challenges and goals set before him. A real go getter. Knows what can be done and what can’t be. Southwest State University grad. $33,000. S-6 CONSUMER L.0.-A people person. Very good at working out payment arrangements. Has a great deal of integrity. “ Excellent employee, good at credit analysis, and makes good decisions,” according to V.P. Three years bank exp. $22,000. J-7 SR. OFFICER— Has served as #2 person in $20mm bank for past 10 yrs. Handles $11 mm loan portfolio. Strong ag lender, successful in workouts and collections and works in operations, compliance and insurance areas as well. B.A. degree, graduate school of banking and ag credit school. $35, 000. J-8 PRESIDENT/EVP— Accomplished banker offers well-rounded experience in ag and commercial lending and bank man agement. Former employer states; “ Very profit oriented; ran the bank like he owned it and gives it 100%. As good a lender as I’ve seen.” Now responsible for over $30mm in ag and commercial lonas. ISU grad. $45,000. J-9 VICE PRESIDENT— An up and coming young banker who is ready to advance his career after six years of hands-on experi ence in a mid-sized IA bank. References praise his dedication and ability. “ Very self-motivated...really a ‘doer.’ Likes his work and keeps on top of things...VERY strong in ag lending, but also knows his way around business and installment loans—he’s been exposed to everything here and he learned quickly.” Another re ference states, “ SUPER responsible, professional, and good PR skills. Has proven ability in credit judgment and also understands the operations end. Definitely management material!” Degree in Finance, holds insurance licenses, and Ag Banking School grad. $27-$30,000. J-10 SR. OFFICER— "Really has what it takes in banking today; he knows lending inside-out, and an effective and well-liked man ager of staff,” reports one reference. Over 10 years with same bank, in charge of $15mm ag loans in $80mm bank. Shares com mercial loans, operations and administrative duties as well. M.S. Ag Econ., extensive bank schooling. $48,000. J-11 C.E.O.— President of $16mm ag bank, handles all loans, bank management and some investments. Prior experience in correspondent and trust areas. Former supervisor states, “ I wish I could have taken him with me when I left that bank; now I’d be afraid to hire him if I could...he knows more about running a bank than I do!” Very polished individual with strong communication skills. B.S. Economics, graduate school of banking. $45,000. J-12 ASST. V.P.— Has 4 years experience as ag rep in small coun try bank. Works with all types of loans, and helps with operations. Graduated ISU with honors, and attended Ag Credit School. “ Good with documentation, and really grinds through the work load. ” $24,000. J-13 AG LENDER— “ A dedicated and conscientious worker...pays attention to detail,” quoted one supervisor. Three years with Farm Credit System, plus previous experience in ag sales. A co-worker describes him as “ a smooth and intelligent young man who has a thorough knowledge of ag lending.” B.S. Ag. $27,000. Our reputation of maintaining our candidates’ confidentiality enables us to attract a select group of ag bankers and lenders... those currently employed and not actively job hunting, but ready to make a move for the right opportunity. JEAN EDEN 712/779-3567 Hwy. 92 W. Massena, IA 50853 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Let us know your needs without commitment; we won’t 'hound’ you with phone calls or ‘flood’ you with resumes, and there is no fee unless you hire. SANDI GARNER 515/394-5827 Hwy. 63 S. New Hampton, IA 50659 BANKERS AVAILABLE J-14 V.P./AG—“ Has really done well in solving some major ag loan problems, and knows how to work with people to get results,” was one references opinion about this young banker. Offers five years as ag lender with major holding company, and two years as V.P. of $30mm independent bank, handling prob lem ag loan workouts. A co-worker relates, “ Has experience in all areas...really works well with farmers. Always thinking before he speaks and his adept at handling tough situations.” B.S. Busi ness Admin. $32,000. S-15 A/C— “ I have nothing but good things to say about this indi vidual...he’s ambitious, conscientious, a pleasing personality and a team player,” quoting the president who originally hired him. This party is excellent with customers, straight forward but not abrasive. Just not challenged enough where he is at. Wrote a program to put the bank’s budget o n jh e computer on his own initiative. $21, 000. S-16 A6 L.O.— Has four years of lending experience. Handles tough situations well and is very knowledgeable in ag credit. Picks up strengths and weaknesses in credit situations very easi ly. A very positive attitude and gets along with customers and associates very well. Motivated candidate who wants to succeed! Southwest State University grad. $25,000. S-17 A6 L.O.—-Familiar with all aspects of ag lending from begin ning to end. Responsible for 3.5MM in ag loans where at present ly. Strong ag background with degree emphasis in ag lending and bank operations. Lots of incentive...wants to get involved and do the job. Always trying to learn new things. “ Fits in really well wherever he goes,” related a reference. $22,000. S-18 L.0. & INS AGENT— Six years of experience working with the insurance agency and personal, ag, FmHA, and home improve ment loans. Does comparison and analysis of financial state ments on the computer. This individual has all of his insurance licenses. A great employee. $10,000. S-19 AG REP.— Presently working at a $25MM bank and oversee ing ag consumer and commercial loans. “ Documentation is ex cellent and he’s good in credit analysis,” relates V.P. of bank. FmHA guarantees are part of his daily work load. Very easy to get along with...good attitude. Degree in banking. $10,000. S-20 CASHIER— Extremely good with numbers. Enjoys working with the computer, does call reports, and profit and loss state ments. He offers ten years of exp. Reference says “ A good number cruncher.” Completed various banking school courses. Grad, with a double major in business and econ. $20,000. J-21 AG LOAN OFFICER— Spent three years with PCA before enter ing banking 2 years ago, as ag rep in $25mm bank. Reference says: “ Very professional manner and appearance...thorough, or ganized, excellent on documentation...EFFECTIVE and hard working, and knows how to handle responsibility.” ISU Grad, $30,000. J-22 AG LENDER— Responsible for $6mm in ag loans. Strengths are in loan analysis, workouts, and rates *1 in customer relations. Three years with Farm Credit Services handling short term loans. "Follows through on things, and can spot a poor-risk loan...out going and self-confident, he’ll get involved in the community rep resent a bank well...A qualified ag lender with good potential to learn commercial lending,” says references. Prior experience as commodity broker, good computer skills. B.S. Ag Econ. $28,500. J-23 VICE PRESIDENT— Currently employed in $30mm bank, han dling ag loans and a share of commercial and consumer loans. Formerly with FCS, where his responsibilities included ag loans, 712/779-3744 Hwy. 92 W., Massena, Iowa 50853 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis collections, refinancing and office management. Former supervi sor at PCA relates, "Diplomatic in stressful situations and good on collections, he’s well-liked by co-workers and a valued em ployees.” Degreed. $29,000. S-24 ASSIT/CASH— A college graduate with seven years of bank ing experience. Coordinates all loan activity internally. Does bank call reports and assembles and enters daily loan volume into the computer system. Implemented a employee communication pro gram successfully resulting in better communications between management and employees which resulted in a marketing tool used by bank management. A good employee! $23,000. S-25 AVP— “ Loan contracts proved to be sound that he negoti ated,” they were analyzed well and good decisions were made,” according to this individual’s former supervisor. Farm Credit and bank experience combine to make this candidate and excellent employee. Three years of experience in all facets of lending with emphasis in agriculture. This self starter is an ISU grad. $26,000. J-26 AG LOAN OFFICER-Currently in charge of decreasing ag loan portfolio in small rural bank; also handles few installments. Has 2 yrs. previous experience with FmHA, which has added to his suc cess in processing guaranteed loans. References say, “ Very smart cookie! A real stickler on cash flows and detailed financial statements...good personality; customers accepted him very quickly in this ‘close knit’ community. Very conscientious ; always the first to arrive and the last to leave the office.” B.S. Ag. $23-$25,000. J-27 VP BANKING— Cu rrently AVP for major holding company, in charge of $6mm ag loans. Five years previous experience with FCS as a short term lender. Former supervisor recommends him highly; “ A very successful ag lender, and his organizational skills are a big key to that success. He’s a hard driver who can churn thru paperwork to close the deal, and doesn’t overlook details. Very personable; has maturity and poise beyond his years. A good communicator.” B.S. Ag, ISU. $30,000. J-28 VP/AG DEPT. HEAD— Has been responsible for major portion of large volume ag credit lines for major bank chain for past 5 years. As manager of the ag dept., he decreased substantial volume of problem loans while maintaining high standard of credit quality on existing portfolio. Directed the completion of credit analysis, field inspections and documentation. Supervises 2 loan officers. Active in community and banking organizations. Excellent references. B.S. Ag Econ. Open on relocation. $30,000. J-29 VICE PRES.— “ Qualified and competent; equipped to handle responsibility,” says co-worker about this aggressive young banker. Heavy in ag lending, but involved in other areas also. "Documentation and people skills are two of his strengths. Made FHA guarantees work, forceful when situation calls for it, but not overbearing. Great attitude,” states reference. B.S. Bus. Mgmt., Ag Credit School, Principals of Banking, Installment Credit schooling, FmHA Approved Lender, insurance licenses and good computer skills. $30,000. J-30 SR. VICE PRES.— Second in-charge of $35mm bank. Handles $10mm in ag and commercial loans. Recovered loans thought to be in loss status, works with FmHA and SBA guaranteed loans and restructuring credits. Over 12 yrs. in banking, strong PR skills, and gets involved in community. B.S. Ag Econ. from ISU, graduate of Am Bankers Assoc. Grad School of Ag Banking, holds insurance licenses. $38,000. i agr/carers, inc . 515/394-3145 Hwy. 63 S., New Hampton, Iowa 50659 ATTENTION IOWA BANKERS PROBLEMS WITH YOUR BLANKET BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? We have been able to solve many bonding problems for bankers at the lowest possible premium. Call or Write Now exclusively represented in Iowa by Iowa Bankers Insurance and Services, Inc. 1-800-532-1423 (Iowa) 515-286-4344 THE KANSAS BANKERS SURETY COMPANY 435 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 1- 913- 234-2631 Serving bankers for more than 75 years https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 12-15-86 An Open Letter to Senator G rassley... (Continued from page 1) like the local bank, which acted in good faith by lending money the farmers asked to borrow. Into this swirling vortex of severe farm crisis, Senator, which has caused the death of several dozen banks in our area, as well as hun dreds of farms, you and your collea gues have thrust Chapter 12. Know ing your good record, I’m sure you acted in good faith, but I earnestly plead with you to monitor immedi ately the early consequences of this new bill. Three Chapter 12s have been filed in Iowa in the first two weeks since the law became effective at Thanks giving time. Every indication is that a number of others will be filed. At least 10 Chapter 12s have been filed already in Nebraska, m ostly in east ern counties, and more are expected daily. One farm advocacy group has put every Nebraska bank on notice that it intends to work diligently to explain advantages of Chapter 12 to farmers and assist them in such fil ings. In another Nebraska communi ty, the local Lutheran church hosted a Chapter 12 meeting in the church worship hall and permitted a local attorney to conduct a m eeting to tell details of Chapter 12 and how to file. He would be glad to handle their cases, of course. Bankers across midwestem states are deeply concerned, based on solid, local information, that they will be victimized by Chapter 12 filings. Their legitim ate concern over the po tential financial loss of such filings is already causing many banks to de cide they simply cannot afford the risk of lending to marginal or new farmers. One rural Nebraska banker told us he had declined to finance three young men who otherwise https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis would have been reasonable risks for start-up loans. The future potential of a Chapter 12, which would relieve the borrower but cost the lender a bundle, was the sole cause for the de nials. One irate banker, who spoke with us for a half-hour on a long-distance call, was incensed because local church groups were arbitrarily speaking out on behalf of Chapter 12 as an ideal vehicle for farmers and against “the banks” as being the ones who should suffer the loss “be cause they caused the farmers’ debt problems.” Senator, that’s the same as an overweight person holding the grocer responsible! A Minnesota banker, speaking di rectly about Chapter 12, told us, “We have enormous concerns over this. It’s the last straw in adver sarial legislation and is bound to restrict credit. We consider it a real serious attack on the viability of country banks. When the stability of banks already is being threa tened, this makes it more difficult for bankers to place any reliance on contracts already drawn. I consider Chapter 12 destructive to the re covery of farming by cutting credit to existing and new farmers.” The immediate result out here on the front line, Senator, is one that genuinely merits your immediate, personal attention. It is creating di visiveness among borrowers, lend ers, community and church. It is casting friends against friends. It is adding to the m entality among some that “the banker be damned.” Since you were a co-sponsor of Chapter 12, we repeat our earnest in vitation for you to return here for a few days and in fairness listen to the other side of the equation, other con stituents—“the bankers”—who are also a stressed people. It is not within our purview to extend an in vitation to you for such an impor tant banker meeting, but we’d like to invite to your attention the fact that top officials of 16 midwestem state banker associations will meet at the Red Lion Inn in downtown Omaha December 18 at the request of Mark W. Olson, president of the American Bankers A ssociation. Their purpose will be to outline for ABA leaders the priority concerns of these states and you can be sure that Chapter 12 will be at or near the top of their list. Perhaps you could arrange to meet with these 16 mid w estem state association leaders to hear from them first-hand how they perceive Chapter 12 affecting their member banks and their communi ties. I think you will agree, Senator, that justice requires that a bill with flaws should be re-shaped. Why deli berately hurt those in the same fami ly who are trying to pull agriculture to safety? As Chapter 12 now stands, it is like devising a vaccine for a fatal disease, then trying it on the neighbors first to see if anyone gets deathly ill or dies. Chapter 12 as it now stands may bring some economic life to farmers it was in tended to help, but it could well be economic euthanasia for some rural banks. We hope you will take a per sonal interest in the serious con cerns that are surfacing right now on Chapter 12 by returning here for first-hand interviews to see what might be done to alleviate another impending crisis. Sincerely yours, Ben Haller, Jr., Publisher THE NORTHWESTERN BANKER 1535 Linden, #201 Des Moines, Iowa 50309 COUNTONIt Count on Com m erce for superior capabilities and personal attention to your correspondent banking n eed s. A combination weVe upheld for m ore than 120 years. v j i v e us us a au. Give a ucall. 1800 892*7100 1800 821*2182 * * * * (Outside Missouri) Stockman Inn, Jan. 14 at Columbus Holiday Inn and Jan. 15 at the Omaha Red Lion. All senior manage ment, presidents, CEOs and bank di rectors are encouraged to attend. Registration/continental breakfast will begin at 9:30 a.m. At 10:00 a.m., “Expectations, Responsibilities and Opportunities of the Community Bank Director” will be presented by Robert D. Dye, senior vice presi dent, Financial Shares Corporation, Chicago, 111. The luncheon will fol low at noon with Mr. Dye continu ing his presentation at 1:00 p.m. “What are the Duties of a Director in Discharing His/Her Responsibili ties?” will be delivered by Charles H. Pfaff of the F.D.I.C. in Grand Island. James E. Tracy of the Office of the Comptroller of the Currency in Omaha will present “Responsi bility of the Bank Director from a Regulatory View.” The forum will adjourn at 3:30 p.m. Advance regis tration fee is $75 per registrant. After Jan. 5, 1987, cost will be $95. F ee in c lu d e s a ll co n feren ce materials, continental breakfast, breaks and lunch. OMAHA: Judy Z. Gotsdiner has been promoted to vice president and legal counsel and Alan J. Rausch to vice president of finance and opera tions of FirsTier Mortgage Co. Ms. Gotsdiner has been with the com pany since 1977 serving most re cently as second vice president. Mr. Rausch also joined the firm in 1977. He became assistant treasurer of *SrS of Kansas City FirsTier Inc. in 1984. Minnesota News STEWARTVILLE: The FDIC has approved the assumption of First National Bank of Stewartville by Marquette Bank Rochester. The failed bank’s only office reopened Dec. 5 as a branch of Marquette Bank Rochester. First National Bank of Stewartville, with total assets of $18.3 million, was closed Dec. 4. Marquette Bank Rochester will assume about $17.9 million in 4,700 deposit accounts and has agreed to pay the FDIC a purchase premium of $759,000. It also will purchase certain of the failed bank’s loans and other assets for $12.1 mil lion. Colorado News COLORADO SPRINGS: Brad L. Lenhard and Thomas J. Naughton have been elected vice presidents of Colorado N ation al B ank—E x change. Mr. Lenhard has been with the bank 11 years. Mr. Naughton joined the bank in 1984. His bank ing experience began 10 years ago with Norwest Bank in Des Moines, la. dent and cashier. Michael J. Beyer has been promoted to vice president in charge of the bank’s ag loan de partment. He joined the bank in 1985 and most recently served as as sistant vice president. SIOUX FALLS: Bob Kaul has been elected president of the Sturgis branch of Norwest Bank South Da kota, N.A. He joined Norwest in 1980 and most recently served as vice president, ag banking. Come to the Investment Specialists committed to quality. South Dakota News MITCHELL: John Olson has been elected senior vice president of Com mercial Trust & Savings Bank. He joined the bank in 1983 as vice presi Inquire about FLEXO-PAY® ■ a computerized billing/credit system ■ generates additional income from present staff and equipment ■ means of increasing your local commercial business ■ plan developed by bankers for bankers https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis iiS t Commerce Bank CALL: 1-800-772-2411 WRITE: LeRoy Bell The National Bank of Waterloo RO. Box 90, Waterloo, IA 50704 I n these times of change and uncertainty, rely on the time-tested quality invest ment recommendations of the Investment Banking Division of United Missouri Bank. Iu U N ITED MISSOURI BANK M em berfd.c c ity n.a. 10th & Grand • RO. Box 226 Kansas City, Missouri 64141 • (816) 556-7200 Applications, supervisory requests and other management services LOOKING FOR BANK PERSONNEL? Contact Lorraine Lear S W O R D S ASSOCIATES. INC. P R O FE S S IO N A L B A N K IN G CONSULTANTS 4900 OAK SUITE 301 KANSAS CITY, MO 64112 (816) 753-7440 Financial Careers (Division of Freeland Financial Service, Inc.) 1010 Equitable Bldg. Des Moines, IA 50309 515/282-6462 Employer pays fee. POSITIONS AVAILABLE Estate Appraisals Purchase o f Collections Sale o f Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest Ben E. Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 EVP • $45mm bank. Overall bank functions. 10 yrs. exp. Im plement, develop, supervise and document policies. Posi tion leads to Pres./CEO. Send resume to File No. WHK c/o Northwestern Banker. (PA) CASHIER $26MM S.E. Iowa Bank. Minimum three years banking experience in operations. Excellent opportunity for a professional banker w ith degree. Send resume to File No. WHF c/o Northwestern Banker. (PA) — $200MM total assets, $100MM total loans—seeks indivi dual to direct and manage all lending functions. Portfolio includes commercial, consumer, agriculture & real estate credits. Senior management position. Top salary and ex cellent benefits. Forward resume to File No. WHO c/o Northwestern Banker. E.O.E.______________________ (PA) Norwest Bank, Ft. Dodge, N.A., a $143MM bank located in central Iowa, is seeking a COMMERCIAL LOAN OFFICER. Candidate should possess a bachelor’s degree and a mini mum of 2 years commercial lending or related work experi ence. Competitive compensation package available. Send resume and salary history to: V.K. Butler, Human Re sources, 666 Walnut, Des Moines, IA 50304. E.O.E. (PA) CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 POSITIONS WANTED FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 New or R econditioned C all: Bankers Equipm ent 612-890-6661 or 1-800-328-4827 ext. 1905 $12M eastern Iowa bank near Iowa City has an opening for individual w ith experience in LOANS AND OPERATIONS. Send resume and salary requirements to File No. WHN c/o Northwestern Banker. (PA) SENIOR LENDING OFFICER. S.W. Wisconsin. Seeking indlvidual to direct and manage all lending functions. Port fo lio includes commercial, consumer, agricultural and real estate credits. Sr. management position. Salary and bene fits commensurate w ith experience. Send resume to File No. WH P c/o Northwestern Banker. (PA) Serving bankers quietly and efficiently. SHARP TELLER MACHINES Banker w ith over twenty five years experience In various size operations, desires to explore situations where proven analytical, planning and people skills would be uti lized in a SENIOR MANAGEMENT position in aclim a te not less hospitable than central Iowa. W ill bring a conserva tive lending philosophy and strength in adm inistration, operations, retail and finance. Resume and supplemental information, in mutual confidence, upon request to File No. WHQ c/o Northwestern Banker. (PW) FOR SALE SHARP SF756 PLAIN PAPER COPY MACHINE. 1% yrs. old. Always been under service agreement. $875. Call W estchester Savings Bank at (319) 698-2225. (FS) BURROUGHS S3610 12 POCKET PROOF MACHINE, 2 megahertz clock, 512KB memory, auto feeder, 2 disk drives, sync data comm controller. Contact Ed James (402) 352-5300. (FS) NCR 775 PROOF MACHINES, 8 pocket. Under maintenance contract. Call American State Bank, Oldham, SD. (605)482-8293. (FS) POSITIONS AVAILABLE PRESIDENT Are you ready to run your own bank? An East Mont Bank part of a m ulti holding co group needs a decisive leader. Desire 8 + yrs Coml/Ag lending exp, strong analytical abil ities, proven mgmt and the ability to make decisions! Hot! To $50 K. Job #NW9439. CONTROLLER Are you ready fo r executive mgmt? An outstate Minn hold ing co needs a detail oriented controller to oversee state ment preparation, tax returns, and the overall operations. A great opportunity w ith a proven organization. To $35K. Job #NW9440. MGR-AG LENDING Isn’t it tim e to increase your earnings? A well performing outstate Minn bank needs a proven Ag Lender to mge the Ag Portfolio. Desire 4 + yrs Ag Lending exp, strong analy tical abilities and willingness to be part of a growing com munity. To$35K. Job #NW9441. POSITIONS AVAILABLE POSITIONS AVAILABLE CEO $20M + SD bank seeks pres w/take-charge attitude. Part of 2 bank holding co. Bank wants exp lender who has worked w/FHA, workout & cashflows. This institution is not under any memo's, CD's or other stipulations but is looking for strong leadership to solve problems before they start. $42K. BRANCH MGR Progressive S&L in excel smaller com munity seeks mgr for branch w/mortgage, consumer & svgs exp. Supv 6, great oppty to run show your way. Excel benefits pkg. $30K. TRUST PERS Great promotion poss. Lrg dept seeks help in personal trust area for professional w /2 + yrs handling 20m or greater in accts. Estate planning, probate, tax & new bus dev. Premium loc. $30K. 2 BRANCH MANAGERS------Need business devel o pm e n t— m o rtgage— and consum er lending. Both new Branches. South o f Manhattan, Kansas and Indianapolis, Ind. To 35K. CASHIER—need in-house EDP and operations ex perience. Omaha. To 45K. LOAN REVIEW—need credit analysis experi ence—commercial and ag.— N.W. Iowa. To 40K. All fees are paid by our client employers. Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We’re Nationwide FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS <z H oCJ.£X a n d c^hti.oaLatE.5. Bank Consultants 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID 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 l d e r , Principal y 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID POSITIONS AVAILABLE CASHIER - $25MM Ag Bank. Requires background with inhouse minicomputers and some knowledge of Agri Loans. $30K PRESIDENT - Agri Bank w ith problem loans. Should have adm inistrative experience and solid Agri Loan skills. $40K OPERATIONS • manage department of 35 for large urban bank. Experience with deposit accounting and account services required. $38K AGRI LOAN - com m unity bank w ith large Ag portfolio. Seven yrs. or more Ag Lending experience needed. $35K COMMERCIAL LOAN - large suburban bank with $100MM loan portfolio. Degree and minimum 3 yrs. comml lending experience with six figure credits. $32K Additional positions available in Midwestern states. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 15 No. 35 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden Digitized forSt., FRASER #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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