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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, banking. 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 will no doubt meet with great con CED AR FALLS: Tom W enndt has eliminated stock redemptions by troversy 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 □ joined Norwest Bank here as vice smaller bank holding companies, the president for the agricultural busi Fed rescinded all o f the changes pre ness segment.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 A of Regulation Y adopted last Wednesday, the Board o f Governors RISMILLER, WEAVER AND YAKE Getting it done for you. David Rismiller Chairman ^ «-nairman Warren Weaver rresiaent President Ernie Yake senior Senior President Commerce BankofKansascity NA MEMBER FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Telephone (816) 234-2000 * 2 Norwest Bank Des Moines, N.A. NORWEST BANKS 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 ASK STAN FARMER 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 approval. BANK PLACEMENT SPECIALISTS (Our 34th 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. 71st Street 402/393-5515 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 respectively. 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 years. 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 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK Help yourself by calling Bemie Am erican ...Town .Clodt. Plaza. Dutxinue. Iowa 52001 https://fraser.stlouisfed.org 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. I 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. UNITED MISSOURI 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C A L L ON TH E “PERFO R M AN CE TEA M 199 where comm on transactions are handled uncommonly well. 3 ■ FIRSTNATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 « M em ber, F.D.I.C. w ^ ^ 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 0 9 E * 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 development. W ISCONSIN RAPID S: Steven Bell 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. Increasing Bank Deposits Through KEITH WEIGEL IRA’s Keoghs...Pension Plans Serving Banks in Iowa and Minnesota SERVICE COMPANY P.O. Box 171 • Albert Lea, M N 56007 507/373-8216 banking. 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 Calvaryman. 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 A PUBLIC SERVICE M ESSAG E FROM TH E INTERNAL REVENUE SERVICE https://fraser.stlouisfed.org 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 AFFILIATED W IT H UNITED CENTRAL BANCSHARES. INC. TOLL FREE NUMBER (800) 362-1615 NORTHWESTERN BANKER 306-15th Street Des M oines, Iowa 50309 Phone 515/244-8163 REAL ESTATE LOAN OFFICER DEPARTMENT MANAGER 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. (PA) POSITION AVAILABLE 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. (PA) POSITIONS AVAILABLE Estate Appraisals CEO for $20 m illion Minnesota Bank. Requires proven ability in com m unity bank........................................... Salary open Purchase of Collections 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 Coins 913 Locust Des M oines, Iowa 50309 515-243-8064 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. (PA) Ag Lender for N.W. Iowa bank. Salary range is open, depen ding on experience. Nice small community and working con ditions. 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 515/432-7611. (PA) 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. (PA) 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 SENIOR RETAIL MORTGAGE LENDING OFFICER— New 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. (PA) 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. BANKERS NEEDED 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. $30-$35,000. 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 aO/i CAREERS, INC. • J TH E ORIGINAL AGRICULTURAL RECRUITER Ag Banking Specialists Box 140, Massena, IA 50853 Box 307, New Hampton, IA 50659 COMMERCIAL LOAN OFFICER 4 BURROUGHS FULL-KEY BOARD ADDERS. Contact Barb Moody at Commercial National Bank o f Ainsworth, NE. Phone 402/387-2381. (FS) 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. (FS) EXCELLENT SALARY AND FRINGE BENEFITS 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. (FS) All replies confidential. Submit resume and salary history to: file VBV, c/o Northwestern Banker. NCR 775 PROOF MACHINE WITH 12 POCKETS. Under ser vice maintenance agreement. Home Trust & Svgs. Bank, Osage, IA. Phone 515/732-3763. (FS) An Equal O pportunity Employer. (PA) POSITIONS AVAILABLE AGRILOAN/OPERATIONS—primary responsibility w ill be evaluation and approval of agrl credits. Secondary duties to assist cashier. $22K 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 dept. $30K JUNIOR OPERATIONS—small rural bank desires college graduate w ith 1-2 yrs. bank operations experience. $14K AGRI LOAN—senior officer position in $30MM rural bank. Handle all ag credits and some commercial. $30K Resume and salary requirements requested. TOM HAGAN & ASSOCIATES 2024 Sw ift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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