View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

December 19,1983

Des Moines, Iowa

Vol. 12 No. 35

partment o f Banking. The Depart­
m ent’s lawsuit alleges that UCB
acted “ with intent to defraud and
deceive” by working with Exchange
Bank owners to strengthen UCB’s
position on loans that it held from
the bank and the Burchette fam ily,
to the detriment o f depositors o f the
bank. The suit claims UCB acted im­
properly with “ insider inform ation.”
The suit seeks $8-$9 million from
UCB to help make up about 50% of
depositors’ losses.
In responding to the suit, Robert
Millen, president o f UCB, said, “ We
have not had adequate time to care­
fully review the petition filed in the
Exchange Bank receivership pro­
ceedings, but we are aware o f its
basic allegations. W e believe they
are com pletely unfounded and with­
out merit. Since the matter is now
pending in court, our legal council
has instructed us not to comment
further at this tim e.”

Federal Reserve A cts on K ey Issues

stock redemptions by smaller bank
holding companies. In protest, hun­
dreds of bankers sent letters to the
and Federal Reserve System took Federal Reserve in an attem pt to
action on two key issues crucial to stop such a proposal from being
adopted. A t its meeting Wednesday,
the Fed made it clear it had not in­
tended to harm small banks and the
outpouring o f letters convinced
them to back o ff the proposal.
In other action, the Fed adopted a
definition o f a bank that will partial­
ly close the legal loop-hole used to
create so-called non-bank banks.
That definition consists o f defining
demand deposit to include NOW ac­
counts and other transaction ac­
counts, and defining commercial
loans to include the purchase of com ­
mercial paper, certificates o f deposit
and bankers acceptances, the sale of
In response to tremendous op­ federal funds and similar transac­
position of the proposed change to tions.
This action on the part o f the Fed
Reg Y which would have effectively
no doubt meet with great con­ CED AR FALLS: Tom W enndt has
eliminated stock redemptions by
and lead to legal action. □ joined Norwest Bank here as vice
smaller bank holding companies, the
president for the agricultural busi­
Fed rescinded all o f the changes pre­
ness segment. He previously worked
viously proposed, and in effect, went
Iowa News
in Tipton, and has been in the agri­
back to the original Regulation Y.
The only action taken by the Fed to BLOOM FIELD: Iowa Superinten­ culture business field for eight years
change the present Reg Y was to dent o f Banking Tom Huston, fried a as a loan officer and branch manager
provide a 30 day notice period in­ lawsuit last week against United of Production Credit Association.
stead of 45 days, and to allow the Central Bank o f Des Moines, N. A. in
Fed to “ disapprove” the action connection with the closing last Sep­ CHARITON: Following the annual
tember of the Exchange Bank of stockholders m eeting, N ational
within the 30-day period.
The stock redemption proposal, Bloom field. The private bank had Bank & Trust Company announced
because of its restrictive standards, $18 million deposits when it failed the election o f Gilbert Garton as
would have virtually prohibited and was taken over by the Iowa De­ chairman and chief executive officer

S PART o f a com plete revision
of Regulation Y adopted last
Wednesday, the Board o f Governors

Getting it done for you.

David Rismiller
^ «-nairman

Warren Weaver

Ernie Yake

Commerce BankofKansascity


Federal Reserve Bank of St. Louis

Telephone (816) 234-2000



Norwest Bank Des Moines, N.A.

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

T eam w ork:
one o f the reasons
we're firs t in Iowa.
Tom Qulnlin

Dennis Nahnsen

and Larry Rolfstad as president and
chief operating officer. Mr. Garton
succeeds Marion M. Coons who re­
cently retired as chairman but will
remain as chairman o f the newly es­
tablished executive committee. Mr.
Rolfstad form erly was president of
Brenton Bank & Trust Company of
Vinton. In addition, John Romoser
has been prom oted to assistant vice
president in ag loans.
DES M OIN ES: A ID Securities
Corp., a new subsidiary o f A ID In­
surance Services o f Des M oines, will
open early in January as a full-ser­
vice brokerage and investment bank­
ing firm, with offices located in the
Capital Square building. James I.
M ackay and Dwayne Streeter, both

to make MNB
work for you.
Toll free
1- 800- 332-5991

form erly with R.G. Dickinson and
Co. in Des M oines, have been elected
president and executive vice presi­
dent o f A ID Securities, respectively.
James E. W eiser is director o f muni­
cipal and public finance. He previ­
ously was a vice president at United
Central Bank here.
M ANCHESTER: David L. Parmley
has joined the staff o f First State
Bank as vice president. He will pri­
marily be involved with agricultural
lending, credit analysis and business
development. He previously was em­
ployed by the Federal Land Bank,
Manchester office, as an assistant
vice president.
M USCATINE: First National o f
Muscatine and First National in Fairfield have agreed to be acquired by
Iowa First Bancshares Corp., a new
bank holding com pany owned by the
present shareholders o f First Na­
tional o f M uscatine. Stockholders
with more than 50% o f the shares of
the Fairfield bank have agreed to
the acquisition. A tender offer will
be made for 100% o f the stock. The
purchases are subject to regulatory

(Our 34th year)
Call experienced professionals to locate the
right candidate for your vacancy ... or the right
“ move-up” for yourself.
202 S. 71st Street
Omaha, Nebraska 68132

W . M asey and Daniel J. Hassman as
loan officers. Mr. Park, who joined
the bank in October o f 1983, had
been associated with Hawkeye Bank
& Trust o f Centerville for over 17
years. Mr. M asey has served with
banks in Cresco and Manly and
m ost recently was with the State
Banking Department. Mr. Hassman
started with the Oelwein bank in
1978, working summers while atten­
ding college.
W ASH IN GTON : Logan Heilman,
president o f W ashington State
Bank, plans to retire at year end. He
started with the bank in 1939. A
new president has not yet been
named. A lso retiring at that time
will be Frank Kos, former president
and a director for 30 years and Mer­
ritt E. McDaniel and E.D. Morrison,
Jr., directors for 30 and 20 years
W IN TERSET: Charles G. Crow, 89,
died December 10 o f a heart ailment.
Mr. Crow was the founder o f the
Union State Bank o f W interset and
served as a bank director for 33

Minnesota News

M IN N EAPOLIS: Glen R. W alters
has been named senior vice presi­
dent o f human resources at First
Bank Minneapolis. He succeeds
Ross E. Bartz, who has been named
senior vice president o f administra­
OELW EIN: The First National tion. Mr. W alters joined the bank in
Bank o f Oelwein recently announced 1967 and had been serving as vice
the appointment o f Richard R. Park president o f international banking.
as executive vice president and Tom He has also held positions in cor’---------------------------- --------------------------- ------------ X

Recipe for success...V.

B em ie Miller, C orresp on d en t Banking Officer, has o v er
3 0 Çears o f Eanidng exp erien ce, ari'cl th e '"recipe J oF m

National Bank 151

Member F.D.I.C.


Help yourself by calling Bemie

Am erican
...Town .Clodt. Plaza. Dutxinue. Iowa 52001
Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 12-19-83

Discover the knowledge
Cash Management
can bring your bank.
nju s t 3 0 days, our Cash
_ l M anagem ent Service and EndPoint Analysis can tell you things you
never knew. About your bank and your
custom ers.


Find out exactly how long it takes to
collect your funds. W hat availability you
should give that high volum e account.
And a great deal m ore.
Th e people in our Cash M anagem ent
Services are experts at fast balance

reporting. And m ore im portantly, your
availability of funds is accurate, not just
an average of past funds.
Day after day, our Cash M anagem ent
Service continues to dig up the kind of
facts that lead to increased profitability.
Call your United Missouri Correspondent
Banker at (816) 556-7900. And discover
how much 3 0 days of free Cash
M anagem ent Service and an End-Point
Analysis can do for your bank.

of Kansas C ity na.
U nited w e grow .Together.
10th and Grand o P.O. Box 226 o Kansas City, Missouri 64141 o (816) 556-7900
Federal Reserve Bank of St. Louis
Federal Reserve Bank of St. Louis



where comm on transactions are handled uncommonly well.



13th & M Street • Lincoln, Nebraska 68501 « M em ber, F.D.I.C.



respondent banking and corporate
and regional banking. Mr. Bartz
joined the bank in 1956 and was
named head o f personnel in 1966 and
senior vice president in human
resources in 1976.

Wisconsin News




M ADISON : The follow ing people
were recently prom oted to vice pres­
ident at United Bank here: Joan
Burke, consumer banking; John F.
Nelson, investments; Michael D.
Gingras, commercial loans, and R.D.
Boxchulte, executive banking. In ad­
dition, Kim Babler has been named
assistant vice president, business
has been elected president and chief
operating officer of the W ood County
National Bank, and M ary Ironside
has been elected vice president and
controller. Mr. Bell succeeds his
father Chester Bell, who will con­
tinue as chairman and plans to be­
come more involved in the bank’s

trust department. Mrs. Ironside has
been with the bank since 1977 as in­
ternal auditor and later controller.

South Dakota News
YAN KTON : James J. Sletten has
been named vice president and chief
operations officer at American State
Bank. Mr. Sletten previously had
been serving as deputy superinten­
dent o f banking for the State of
South Dakota with offices in Pierre.
He also has experience as super­
visory auditor in the department of
legislative audit.

North Dakota News
James G. Walth, president o f The
Union Bank, Halliday, was elected
president o f the Independent Com­
m unity Banks o f North Dakota, for
1984, at the organization’s annual
meeting. John Brown, executive vice
president with Farmers& Merchants
Bank in W imbledon, was elected
vice president.
GRAFTON: Arthur E. Finck has
joined the staff o f The First Ameri­
can Bank and Trust o f Grafton as
vice president, with responsibilities
primarily in commercial lending. Mr.
Finck has been associated with bank
in Bismarck, and Missoula, Mont.,
with First Bank System and with a
bank in Dickinson.
M OORHEAD: Terry W . Anderson
has been prom oted to vice president
in commercial loans at Norwest Bank
Moorhead. He joined the bank in
1980 as a commercial loan officer.
W AHPETON: Norwest Bank Wahpeton has named Steven D. Jacobsen
senior vice president in loan ad­
ministration. He m ost recently was
vice president o f commercial loans at
Norwest Bank Moorhead, which he
joined in 1977.

Bank Deposits


IRA’s Keoghs...Pension Plans
Serving Banks
in Iowa and Minnesota

P.O. Box 171 • Albert Lea, M N 56007

Registration on the 16th will be­
gin at 8:00 a.m., followed by a wel­
come from Don H. Babbitt, W B A
president, and president o f Stockgrowers State Bank o f W orland.
M onday’s topics will include: Estate
and Family Planning; Time Manage­
ment and Human Relations, and an
Agricultural Outlook. Tickets will
be available for the Cowboys vs. Air
Force basketball game that evening.
Tuesday, January 17, will feature
talks on Bank Deregulation; Live­
stock: Present, Past and Future, and
W orld Grain Outlook. Conference
attendees will be treated to cocktails
and a banquet that evening at the
W ednesday’s session will wrap up
with the topics: W yom ing Farm
Loan Board, and Time, Value of
Money, Graduate Payments.

Don't gam ble
when choosing
o correspondent
bonk. Com e to
the professionals.

Wyoming News

Federal Reserve Bank of St. Louis

The 12th W estern Agricultural
Lenders Institute will be held Janu­
ary 16-18 at the University o f W yom ­
ing in Laramie. The University o f
W yom ing and the W yom ing Bank­
ers Association Agricultural Com­
m ittee have planned a thorough look
at the current state o f agricultural

OF DES M O IN ES . N A ■ M E M B E R FDIC ■ (S15) 2 4 S -7 1 11

(800) 362-1615

306-15th Street
Des M oines, Iowa 50309
Phone 515/244-8163

Excellent opportunity for Real Estate Lender to
assume complete responsibility for all real estate
lending in a small department w ith a growth po­
tential. Applicant must have experience in real es­
tate lending and the ability to move mortgages in­
to secondary market. All replies w ill remain strict­
ly confidential. Send resume and salary require­
ments to: O. Lee Mlnear, Senior Vice President,
West Des Moines State Bank, P.O. Box 65020,
West Des Moines, IA 50265.

COMMERCIAL LOAN OFFIC ER -$30 million community
bank located in the NW corner o f Illinois. Minimum 5 years
experience. Salary commensurate w ith background. Good
benefit package. Send resume and salary history to file
VBO, c/o Northwestern Banker.


Estate Appraisals

CEO for $20 m illion Minnesota Bank. Requires proven
ability in com m unity bank........................................... Salary open

Purchase of

Ag Lender for Iowa Great Lakes Area multi-bank holding
company. Requires three or more years ag lending plus
degree............................................................................. Salary open

Sale o f Rare Coins
Reliable and respected service
for over 20 years
Used by bankers
throughout the midwest

Ben E . Marlenee
913 Locust
Des M oines, Iowa 50309

Ag Lender for bank in Greater Des Moines area. Excellent
opportunity for lender w ith three or more years ex­
perience, farm background and ag degree----- Salary open
Commercial Lender for large central Iowa independent
bank. Requires degree and five or more years commercial
lending experience.........................................................Salaryopen
Experienced Lender for Eastern South Dakota community
bank. Requires both commercial and ag loan background..
............................................................................... Salary open
Ag Lender for Southern Minnesota Multi-bank holding com­
pany. Requires five or more years experience. Applicant will
supervise $9 million Ag portfolio and two ag reps................
........................................................................Salary to $32,000
Sr. Lender for Southern Minnesota multi-bank holding com­
pany bank must be experienced in commercial, ag, and
retail lending.................................................Salary to $3i6,000
Commercial Lender for $60 million thrift institution in
Eastern Missouri. Excellent opportunity and bonus ar­
rangement.............................................................Salary open
Ag Lender for Northern Iowa community bank. Requires two
or more years experience plus degree. Excellent opportunity
in county seat to w n ..................................... Salary to $29,000

Opportunity for a person w ith 5 to 7 years banking ex­
perience to take charge o f TRUST INVESTMENTS AND
REAL ESTATE LOANS for a $21 million bank in north cen­
tral Illinois. Must be sales oriented and able to promote
new business. Salary open. Profit sharing. Write file VBS,
c/o Northwestern Banker.

Ag Lender for N.W. Iowa bank. Salary range is open, depen­
ding on experience. Nice small community and working con­
Ag Lender for S.W. Iowa community bank. Must have three
or more years experience plus degree. Bonus arrangement.
........................................................................Salary to $30,000

COMMERCIAL LOAN OFFICER— Requires degree plus 3
years commercial loan experience. Some operations ex­
perience helpful. Salary open. Contact Steven L. Afdahl,
E.V.P., Citizens National Bank, Boone, IA 50036. Phone

Operations/Customer Contact for larger Iowa bank. Re­
quires banker who is customer-oriented. Excellent oppor­
tunity ............................................................. Salary to $32,000
Correspondent Officer for major midwest bank. Ag lending
background a plus. Must have five or more years banking ex­
perience................................................................. Salary open

AG LOAN OFFICER—excellent opportunity for aggressive
person w ith minimum of tw o years banking experience.
W ill be working in both the Bank and the Ag Credit Corpor­
ation. Send resume to Martin Gjerde, Bonanza Valley State
Bank, Brooten, MN 56316. Phone 612/346-2234.

Operations Officer to take charge of cashier duties in
Southern Minnesota bank........................... Salary to $30,000
Audltor/Comptroller for commercial bank in Dallas/Ft. Worth
area. Requires CPA degree and experience with “ BIG
EIGHT” firm .................... ......................................Salary open

position for 5 year experienced professional in retail and
secondary lending to direct an annual $80 to $90 million
lending program. Must have strong analytical, inter-perso­
nal and communication skills. Send resume to: United
Federal Savings Bank, Human Resources Department, Lo­
cust at Fourth, Des Moines, Iowa 50308.

We have many other positions available. Write or call
Malcolm Freeland in confidence c/o Freeland Financial Ser­
vice, Inc., 1032 Carriers Bldg., Des Moines, la. 50309. Phone
(515) 282-6462. Employer Pays Fee.

EXECUTIVE V.P....Owner and president of $16 million bank
needs above average individual to serve as E.V.P., handl­
ing loans (majority of loans are ag related), developing
new business, etc. This w ill lead to management of bank
when president retires in 3-5 yrs. An excellent opportunity
for an ambitious person w ith 3-10 yrs. current experience
in an ag oriented bank. Requires strong ag lending and PR
experience, and helpful to have skills in personnel
management, operations, and commercial lending. Star­
ting salary $30-$40,000 plus.
VICE PRESIDENT...A $45 m illion bank needs a well
qualified individual to handle large ag loan portfolio, and
assist in operations, compliance, and other lending func­
tions. Must have 5-10 yrs. current experience with same,
plus good analytical ability and PR skills. Must be promotable; advancement opportunity to Executive V.P.
COMMERCIAL LOAN OFFICER...$70 m illion bank. Must
be able to carry full load of commercial loans (majority are
ag business loans) and call on customers. W ill crossover
to farm & real estate mortgage lending when necessary.
Requires 4-6 yrs. current bank experience and 4-yr. college
degree. $27-$30,000.
AG LOAN OFFICER...Very progressive bank group needs
person to assist with $40 million ag loan portfolio. Two to
five years ag lending experience from PCA or bank. Must
be analytical, good with details and documentation, active
in community, and marketing-oriented. Iowa. $25-$30,000.
Call or send resume for further information. STRICTLY
CONFIDENTIAL. Fees paid by employers.
Jean: 515-263-9598
Des Moines
(712-779-3567 Mon & Thur)

Linda: 515-394-5827
New Hampton


Ag Banking Specialists
Box 140,
Massena, IA 50853

Box 307,
New Hampton, IA 50659


Moody at Commercial National Bank o f Ainsworth, NE.
Phone 402/387-2381.

A leading central Illinois bank holding company
has immediate openings, due to rapid expansion,
for experienced Commercial Loan Officers.
Qualified applicants should have a minimum of
three years commercial lending experience, a
strong credit analysis background, and strong
sales ability.

NCR 499 POSTING MACHINE. Presently under maintenance. Phone 319/728-2226.


BANK MICRO COMPUTER PROGRAMS—Apple (tm) /IBMPC/Franklin Ace and other micro computers. We are d is tri­
butors for over 50 bank programs. Send/Call for complete
list. Phone 308/384-5995. Bankers Electronic Equipment
Inc., 380 N. Walnut, Grand Island NE 68801.

All replies confidential. Submit resume and
salary history to: file VBV, c/o Northwestern

vice maintenance agreement. Home Trust & Svgs. Bank,
Osage, IA. Phone 515/732-3763.

An Equal O pportunity Employer.


AGRILOAN/OPERATIONS—primary responsibility w ill be
evaluation and approval of agrl credits. Secondary duties
to assist cashier.
ASST. CONTROLLER— large suburban bank seeks ac­
counting major w ith 2-3 yrs. operations background. $20K
COMMERCIAL LOAN—com m unity bank of $65MM lo­
cated in southern Iowa. Second position in commercial
JUNIOR OPERATIONS—small rural bank desires college
graduate w ith 1-2 yrs. bank operations experience.
AGRI LOAN—senior officer position in $30MM rural bank.
Handle all ag credits and some commercial.
Resume and salary requirements requested.

2024 Sw ift - Box 12346
North Kansas City, MO 64116
“ Serving the Banking Industry Since 1970”

Vol. 12 No. 35 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.
Federal Reserve Bank of St. Louis