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Me m b e r 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MNB Senior Vice President on “The importance of creative Vlà thinking in correspondent "The challenge of developing more ef ficient methods in correspondent banking is greater than ever. That's why at Merchants National Bank, we encourage our correspondent bankers to develop new and better ways of handling Overlines and Liquidity Loans. That's why we offer time saving services like the 24-Hour Transit Service and more efficient ap proaches to Federal Funds Purchase and Sales and Bond Purchasing and Safekeeping. "A t MNB, we expect originality and we encourage innovation. In cor respondent banking, as in any dynamic business, creative thinking blends vision with experience for a better product. And by aggressively seeking new perspectives, we believe we'll find the best ways to serve our respondent banks and their customers. Talk to one of MNB's creative corre spondent bankers, soon. Call John E. Mangold, Terry M. Martin, Stan R. Farmer, or Jerry N. Trudo. Just dial ( 319) 398-4313 or call, toll free, 1- 800- 332- 5991. Merchants National Bank CEDAR RAPIDS, IOWA • • • is i A BANKS OF IOWA' BANK Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W hen it comes to customer preference*, other travelers cheques don’t stack up. In fact, they d on ’t even :om e close. In a recent national urvey, a majority o f travelers ^pque users said they want American Express® the next ime they buy travelers cheques. W h ich isn’t surprising vhen you consider that only Am erican Express offers five spe cial services to help protect your customers’ vacation if their trav elers cheques are lost or stolen. W e can help cancel lost credit cards, issue a temporary ID, and cash a personal check for up to $200. W e even have a 24-Hour Travel Service Hotline if your customer needs help changing travel plans. A n d an Emergency Message Service if they want to send a message home. C om bine all that with our 60,000 refund locations and nearly 1000 worldwide Travel Service Offices and you’ll see why most travelers cheque users feel A m erican Express is the best brand. S o d o n ’t settle for less. A majority o f travelers cheque users want A m erican Express. A n d if you d o n ’t have them, they may start asking around. m American Express Travelers Cheques https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AMERICAN! EXPRESS 4 Major Fire Disables N.W. National Building NOVEMBER 1982 • 89th Year • No. 1430 MEMBER OF AUDIT BUREAU OF CIRCULATION MEMBER BANK MARKETING ASSOCIATION OLDEST FINANCIAL JOURNAL SERVING THE CENTRAL AND WESTERN STATES ON TH E COVER The tragedy of fire is portrayed graphically in this cover picture taken as firemen continued to battle the blaze that consumed the upper floors of the Northwestern National Bank Building in Minneapolis. This photo was made available through Northwest Bancorporation office of corporate communications. Initial details of the fire are given in the brief story at right on this page. FEATURES 15 Low interest loans Community-minded banks boost Nebraska, Iowa economy 16 Bank officer salaries Exclusive survey reflects 1983 income projections 18 Slow recovery in 1983 First Chicago Conference speakers look at the economy 20 Ag bankers meet in Chicago Ag Secretary John Block addresses ABA Conference 22 MGIC sees mortgage upturn Insurer’s nationwide survey points to expansion DEPARTM ENTS 6 8 10 25 27 28 42 42 Calendar Corporate News Bank Promotions Illinois Minnesota Twin Cities South Dakota North Dakota 43 44 46 49 50 54 59 70 74 Montana Wyoming Colorado Nebraska Omaha Lincoln Iowa Des Moines Index of Advertisers NORTHWESTERN BANKER 306 15th Street, Des Moines, Iowa 50309 Phone (515) 244-8163 Publisher & Editor Associate Publisher Associate Editor Consultant Ben Haller, Jr. Steve Burch Becky McBurney Malcolm K. Freeland N o. 1430 Northwestern Banker (USPS 397-620) is published monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscription $1.50 per copy. $18 per year. Second Class postage paid at Des Moines, Iowa and at additional mailing office. POSTM ASTER: Send all address changes to Northwestern Banker, 306 Fifteenth Street, Des Moines, Iowa 50309. Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ( A Thanksgiving Day inferno that started in the partially demolished Donaldson’s department store spread# quickly into the adjacent North western National Bank Building in downtown Minneapolis and burned out of control throughout the night. Before firemen were able to quench# the flames, all offices from the sixth floor to the roof were gutted, al though the Minneapolis Fire Chief said the structure is still sound. The fire destroyed all offices of( Northwest Bancorporation and a number of its affiliate offices. However, the Northwestern Na tional Bank quarters on the first four floors were not hit by the fire* but were heavily damaged by smoke and water. Thanks to some far-reaching plan ning that had just revised the bank’s disaster plan only a few* weeks ago, Banco and Northwestern National officials “ got together im mediately and hit the ground run ning,’ ’ a Banco spokesman said. The disaster plan had been committed in* writing in book form just two months ago and had been stored for safety purposes in three or four vaults of affiliated banks and bran ches throughout the Twin Cities* area. “ The next day,’ ’ the spokes man said, “ they just got the book out, started on page one and before Saturday was too far along they were assigning new office space to* various departments.” Before the weekend was out, Ban co had relocated all its personnel and they had instructions as to where they were to report for duty. Retail customers were given a number of Northwestern outlets where their records could be accessed so that business could go on with the least( inconvenience. Banco and North western officials emphasized that no customer records or valuables were touched in the fire. The correspondent bank depart-, ment recently moved to the 12th floor of the nearby Pillsbury Building, so it was not involved in the fire. St. Paul Fire and Marine Insur ance Company, which insures the Northwestern National Bank sys tem, said the insured loss has not yet been calculated; however, in line with its extensive reinsurance pro gram, St. Paul F&M said its net, pretax loss will approximate $5 million. T H E C O U N T O F GRYGLA. Grygla, Minnesota, has a raw and unfinished air. Fred Sorenson, president of ^ the 6-year-old i. _ American State Bank .J E o f Grygla, calls the W ffß surrounding area the Midwest’s last frontier. The land is treeless, flat and miraculously fertile, and every season more acres are cleared, ditched and planted, making more efficient than ever the huge equipment that cidtivates, seeds and harvests the wheat, oats, barley and sunflowers. The settlement was named after a Polish nobleman who spent one cold winter there and quickly departed for warmer climes. The Grygla bank’s chief correspondent is the Northwestern National Bank of Minneapolis, 310 miles southeast of the town. Recently, Fred Sorenson , who has his BA and MA from the University o f Minnesota and who for many years was a farm management teacher, talked about Northwestern Minneapolis and about banking in Grygla. This is not like other places. This is a frontier. Farmers here have an insatiable thirst for money. They deposit one dollar and ask to borrow a hundred. Our bank has wanted to help them, and has. W hen the loans have gotten too large, w e’ve had to call on the Northwestern National Bank o f Minneapolis. It’s handled most o f our ag overlines for six years. Right from the beginning in fact. T h ey’ve been responsive, capable, cooperative, knowledgeable. W hat more can I say? O f course we do m ore than lend m oney to farmers. Grygla has an urge and a right to exist. W hen we cam e here six years ago there were no paved streets, no water system, no sewer system. N ow the village has all three. And we were involved. Our bank has also helped bring in a grain elevator, enlarge a farm im plem ent dealership, a beauty shop, and helped start from scratch a m achine shop, a restaurant, a lum ber yard. Just before I cam e here from T h ief River Falls, Minnesota, I said to my wife Marie, “ If you love me, com e to Grygla with m e.” Thank heavens she I said y e s ! The people are wonderful. The hunting is great—mallards, honkers, grouse, deer, even moose. And everything I’ve done as a banker in Grygla has been done for the first tim e! It’s not fancy, but it’s banking at its best. CORRESPONDENT BANKING DEPARTMENT O NORTHWESTERN m N a t io n a l Ba n k l KJ O f M in n e a p o lis An Affiliate of Northwest Bancorporation Banco SHOULDN’T WE TALK SOMETIME? https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 Convention Calendar ABA—American Bankers Association AIB—American Institute of Banking BAI —Bank Administration Institute BMA—Bank Marketing Association IBAA—Independent Bankers Association of America NABW—National Association of Bank Women, Inc. RMA—Robert Morris Associates National Conventions & Schools Jan. 16-19—BAI Productivity Conference Hyatt Regency Hotel, Houston. Jan. 23-26—ABA National Trust Conference, Atlanta Hilton, Atlanta, Ga. Jan. 31-Feb.1 —RMA Term Lending Work shop, Galleria, Houston. Feb. 6-9—ABA National Compliance Con ference, Omni International, Atlanta, Ga. Feb. 6-9—ABA Telecommunications and Financial Networks Workshop, Hyatt Orlando, Kissimmee, Fla. Feb. 6-18—ABA National School of Retail Banking, University of Oklahoma, Nor man, Okla. Feb. 7—RMA Customer Profitability Anal ysis Workshop, Grand Hotel, Houston. Feb. 8-11—ABA N ational Insurance and Protection Conference of Financial Institutions, Sheraton Twin Towers, Orlando, Fla. Feb. 13-16—ABA Conference for Branch Ad ministrators, Fairmont Hotel, Denver, Colo. Feb. 20-23—BAI Annual Conference on Bank Security, New Orleans, La. Feb. 20-24—BAI Bank Auditor’s Confer ence, St. Francis Hotel, San Francisco. Feb. 22-25—ABA Bank Investments Con ference, Hyatt Regency, Dallas, Tex. Feb. 27-Mar. 2—BAI Conference on Bank Security, Fairmont Hotel, New Orleans. Feb. 27-Mar.2—BMA Electronic Banking Conference, Four Seasons Hotel. Houston. Feb. 27-Mar.2—BMA Community Bank CEO Seminar, M arriott’s Mountain Shadows, Scottsdale, Ariz. Mar. 2-5—ABA Corporate/Commercial Marketing Conference, Capital Hilton, Washington, D.C. Mar. 6-9—ABA Community Banks Execu tive Conference, Fairmont Hotel, New Orleans. Mar. 7—RMA Loan Review Seminar, Jack sonville Hilton, Jacksonville, Fla. Mar. 7-11 —RMA Uniform Credit Analysis Seminar, Xerox International Center for Training & Development, Leesburg, Va. Mar. 13-15—ABA National Credit & Cor respondent Banking Conference, Fair mont, New Orleans. Mar. 14-16—RMA Asset-Based Lending Workshop, Atlanta Hilton & Towers, Atlanta. Mar. 23-26—ABA Mid Sized Bank CEO Seminar, Marriott’s Rancho Las Palmas, Calif. Mar. 23-27—IBAA 53rd Annual Convention, Town and Country Hotel, San Diego, Calif. Mar. 27-30—BMA Advertising Conference, Hyatt Regency Chicago. Apr. 5-7—ABA International Banking Sym Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis posium, Hyatt Regency Chicago. Apr. 5-8—BAI Check Processing Confer ence, Marriott Hotel, Chicago. Apr. 10-13—IBAA 21st Seminar/Workshop on the One-Bank Holding Company, Alameda Plaza Hotel, Kansas City, Mo. Apr. 10-13—ABA National Retail Banking Conference, Hyatt Regency Atlanta, Ga. Apr. 14-17—AIB Regional Leaders Work shop, Omaha, Nebr. Apr. 17-27—ABA National Commercial Lend ing School, University of Oklahoma, Nor man, Okla. Apr. 18-20—IBAA Commodity Marketing Seminar, Chicago, III. Apr. 24-27—BMA Research and Planning Conference, Hyatt Regency Crystal City, Washington, D.C. Apr. 28-May1—AIB Regional Leaders Work shop, Salt Lake City, Utah. May 3-6—BAI Accounting and Finance Con ference, Amfac Hotel, Dallas. May 8-10—Conference of State Bank Supervisors, Annual Convention, The Broadmoor, Colorado Springs, Colo. May 8-11—Association of Reserve City Bankers, Annual Meeting, Boca Raton Hotel, Boca Raton, Fla. May 8-13—ABA National Commercial Lend ing Graduate School, University of Oklahoma, Norman, Okla. May 15-18—BAI Tax Conference, Hyatt Re gency Hotel, Orlando. May 22-25—ABA National Operations and Automation Conference, Miami Beach Convention Center, Miami Beach, Fla. May 22-27—BMA School of Trust Sales and Marketing, and Essentials of Bank Marketing School, University of Col orado, Boulder, Colo. May 22-June 3—BMA School of Bank Mar keting, University of Colorado, Boulder, Colo. May 28-June 2—ABA National AIB Leaders Conference, Sheraton Washington, Wash ington, D.C. June 5-8—BAI Strategic Planning, Four Seasons Hotel, Houston. June 5-17—ABA Stonier Graduate School of Banking, Rutgers University, New Brunswick, N.J. June 9-11—Association of Bank Holding Companies, Annual Meeting, Opryland Hotel, Nashville, Tenn. July 11-12—IBAA Spread Analysis and Asset/LiabiIity Management Workshop, Hyatt Regency Minneapolis on Nicollet Mall, Minneapolis. July 13-16—Central States Conference, Jackson Lake Lodge, Wyo. Aug. 8-9—IBAA Spread Analysis and Asset/Liabi Iity Management Workshop, Caesar’s Tahoe, Lake Tahoe, Nevada. Sept. 11-14—ABA National Personnel Con ference, Hyatt Regency, Phoenix, Ariz. Sept. 12-14—IBAA Commodity Marketing Seminar, Chicago, III. Sept. 14-16—ABA Senior Operations Sem inar, Marriott’s Marco Beach, Marco Is land, Fla. Sept. 18-21 —NABW Annual Convention, Hyatt Regency, Dallas, Tex. Sept. 18-21 —BAI National Convention, Fair mont Hotel, San Francisco. Sept. 18-23—RMA Loan Management Sem- inar, The Ohio State University, C olum # bus. Sept. 18-30—ABA National School of Retail Banking, University of Oklahoma, Norman, Okla. Sept. 20-23—ABA National Bank Card Con vention, Bonaventure, Los Angeles, C alif.# Oct. 8-12—ABA Annual ABA Convention, Honolulu, Hawaii. Oct. 23-25—ABA International Banking Conference, Grand Hyatt New York. Oct. 23-26—BMA 68th Annual Convention, Atlanta Hilton, Atlanta, Ga. # Nov. 2-4—ABA Chief Financial Officer Seminar, Hyatt on Hilton Head, Hilton Head Island, S.C. Nov. 2-5—IBAA 23rd Seminar on the OneBank Holding Company, Marriott’s Hilton Head Resort, Hilton Head Island, S.C. # Nov. 13-16—ABA National Agricultural Bankers Conference, Bonaventure, Los Angeles, Calif. Nov. 13-17—BMA Trust Marketing Con ference, Fairmont Hotel, Dallas, Tex. State Conventions & Schools ® Colorado: Sept. 21-24—Independent Bankers of Col orado Annual Meeting and Convention, Keystone Resort. ^ Illinois: Jan. 24-27—AMBI Washington Trip, Wash ington, D.C. Feb. 23-24—IBA Marketing Conference, Marriott Pavillion Hotel, St. Louis. April 5-6—IBA Commercial Credit C on fe r# ence, Ramada Inn, Champaign. Apr. 19-21 —IBA Estate Planning Seminars, Mount Vernon, III. May 4-5—IBA Consumer Credit Conference, Holiday Inn, Decatur. May 10-11 —Independent Community Banks# in Illinois 9th Annual Convention, Holiday Inn East, Springfield. May 23-31 —IBA Bankers School, Southern Illinois University, Carbondale. June 9-11 —IBA Annual Convention, Chi cago Marriott Hotel. # June 12-18—IBA Agricultural Lending School, Illinois State University, Normal. June 15-18—IBA Advanced Ag Lending Clinic, Illinois State University, Normal. June 19-25— IBA Commercial Lending School, Illinois State University, Normal. June 10-22—AMBI Executive Graduate School of Banking, University of Illinois, Champaign, III. Iowa: Jan. 17-18—IBA Electronic Funds Transfer Seminar, Des Moines Marriott. Feb. 7-9—IBA Marketing Conference, Des Moines Marriott. Feb. 11-12—IBA Group 1 Meeting, Marina Inn, Sioux City. Feb. 16-18—IBA State Legislature Trip/ Leadership Conference, Des Moines Hyatt. Feb. 20-21 —IBA Group II Meeting, Holiday Inn, Burlington. Feb. 23-25—IBA Midwinter Management Conference, Colo. Mar. 14-16—IBA Ag Credit Conference, Scheman Center, Ames. Mar. 29-30—IBA Chief Executive Officer Conference, Des Moines. CALENDAR... (Turn to page 8, please) 7 How can you be sure you're getting your money's worth? Today, it’s important to be very selective about your bond portfolio investments. A lot of your assets are involved. And we’re dealing in a tough financial world. United Missouri Ç Bank can make sure you’re investing in high quality securities. We offer exactly what you want. And, if you’d like, we’ll make specific recommendations. Always, with the emphasis on quality. We have a tradition of excellence and an outstanding track record for providing sound bond portfolio services. Very important in this uncertain economy. While some banks .see today’s market condition as a problem, we see it as an opportunity. To get you your money’s worth. We’re the Bond Department at United Missouri Bank. Call or write us today. We’ll hold your investment information in the strictest confidence. Bond Department U N IT E D M ISSO U R I B A N K M em ber FDIC of Kansas City, n.a. United w e grow.Together. 10th and Grand, P.O. Box 226, Kansas City, M issouri 64141 • (816) 556-7200 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 8 Corporate HE following promotions and other announcements have been made by the following firms: T Advanced Planning Systems, Inc., Arlington Heights, 111.: C. David Channell, professor of finance at East Texas State University, has joined the com pany as a senior consultant. He began his educa tion and consult ing career in 1970. His areas of specialization include banking, investments and computer appli- C.D. CHANNELL cations. He has received the Outstanding Teacher Award in the East Texas College of Business Administration and is well known for his numerous papers presented at professional con ferences and articles published. Advanced planning is a consul ting firm specializing in bank man agement, planning and systems. Banker’s Equipment Service, Inc., Burnsville, Minn.: Thomas P. Glesener has joined the firm as a sales representative to prom ote the various computer products market ed by Banker’s Equipment. Includ- ed in these products is a modern computer which posts on a ledger card and generates complete general ledger, liability ledgers and accrual reports. Mr. Glesener has 11 years of banking experience, having served as cashier of Northwestern National Bank Southwest in Bloomington, and Northwestern State Bank of Northfield. He served also as assis tant vice president of the First State Bank of Eden Prairie and most re cently was with First Chicago Data Corporation. BarclaysAmerican Business Credit, Inc., Minneapolis: Gregory L. Davidson has been appointed marketing representative in the Minneapolis region office with re sponsibility for development of new business through telephone market ing program s, presentation of business seminars and performance of prelininary financial analyses throughout the Minneapolis region. This area includes Minnesota, North Dakota, South Dakota, Nebraska, Iowa and a portion of Wisconsin. A resident of Burnsville, Mr. Davidson received his BA degree in accounting/economics from Albion College. Before joining Barclays American he was employed by First Community Credit Union of Kala mazoo, Mich., as assistant manager. CALENDAR... (Continued from page 6) Apr. 24-27—IBA Washington, D.C. I rip. June 19-24—Iowa School of Banking, Uni versity of Iowa, Iowa City. Minnesota: Jan. 12-13—MBA Personnel Conference. Feb. 8-9—MBA Senior Bank Management Conference. Mar. 1-3—MBA Marketing Workshops. Mar. 15-17—MBA Agricultural Workshops. Apr. 12-14—MBA Lending Workshops. May 3-6—MBA Washington Legislative Conference, Washington, D.C. May 9-11 —MBA Investment Workshops. June 20-21 —MBA Annual Convention, Hy att Regency, Minneapolis. June 26-July 1—Minnesota School of Bank ing, St. Olaf, Northfield. July 24-29—Midwest Banking Institute, University of Minnesota, Morris. Aug. 18-21— Independent Bankers of Min nesota Annual Convention, Arrowwood Lodge, Alexandria. Montana: Feb. 9-11 —MBA Agricultural Credit Con Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ference, Holiday Inn, Bozeman. Mar. 31-Apr.1 —MBA Bank Presidents Con ference, Colonial, Helena. Apr. 24-26—MBA Consumer Lending Con ference, Big Sky. May 12-13—MBA Trust Conference, Sher aton, Billings. May 19-20—MBA Commercial Lending Con ference, Colonial, Helena. June 16-17—MBA Real Estate Conference, Colonial, Helena. June 28-July 2—MBA Annual Convention & Membership Meeting, Sun Valley. Nebraska: Jan. 6—Nebraska Independent Bankers Association Annual Legislators Banquet, Hilton Hotel, Lincoln. Jan. 12-13—NBA General Lending Con ference, Holiday Inn, Kearney. Feb. 5-10—NBA Bank Presidents Con ference, Marriott Beach Resort, Marco Island, Fla. Feb. 16-17—NBA Personnel Conference, Kearney. Feb. 27-Mar.4—NBA Basic School of Bank ing, Regency West, Omaha. w Mar. 13-18—NBA Intermediate School of Banking, Regency West, Omaha. Mar. 30-31 —NBA Ag Outlook Conference, Holiday Inn, Kearney. Apr. 10-16—ABA Leadership Conference,® Greenbriar. Apr. 24-29—ABA Commercial Lending, School, Regency West, Omaha. May 4-6—NBA Annual Convention, Holiday Inn, Omaha. June 11-14—NBA Washington Visit. |Jj}) July 10-15—NBA Trust School, Regency West, Omaha. North Dakota: Jan. 26-27—NDBA Bank Management Con ference, Kirkwood Motor Inn, Bismarck. f Feb. 16-18—Bank of North Dakota MidWinter Break, Bismarck. Mar. 16-17—NDBA Agricultural Credit Con ference, Fargo. Apr. 26-28—NDBA Washington Legislative and Administrative Conference, Hyatt® Regency on Capitol Hill. May 23-24—NDBA 98th Annual Convention, Civic Auditorium, Grand Forks. June 5-10—NDBA North Dakota School of Banking, Grand Forks. Sept. 14-16 —Independent C om m unity® Banks of North Dakota Annual Conven tion, Kirkwood Motor Inn, Bismarck. Sept. 26—NDBA Northeast Group Meeting. Sept. 27—NDBA Northwest Group Meeting, Rugby. Sept. 28—NDBA Southwest Group Meeting,® Dickinson. Sept. 29—NDBA Southeast Group Meeting, Ellendale. South Dakota: Apr. 6-7—SDBA Ag Credit Conference,, Kings Inn, Pierre. Apr. 20-21—Joint NDBA/SDBA Trust Con ference, Holiday Inn City Centre, Sioux Falls. May 16-17—SDBA Annual Convention, Con vention Center, Sioux Falls. ( Wyoming: Jan. 19-21—WBA Consumer Credit Con ference, Hitching Post, Inn, Cheyenne. Feb. 3-4—WBA Credit Conference, Ramada Inn, Casper. June 15-17—WBA Annual Convention, Jackson Lake Lodge, Jackson. Record Number of Banks Join RMA This Past Year During the past fiscal year — September 1, 1981, to August 31, 1982 — a record 257 commercial and savings banks joined Robert Morris Associates, breaking the previous year’s record of 220 new members. This brought the net total of RMA member banks to 2,500, also a re cord high. These member banks are repre sented in RM A by more than 10,000 individuals (associates) who either are actively engaged in commercial lending, credit, and loan administra tion functions or who control or in fluence them at the policy level. 9 HowTheFirstTkmmakesFirstChicap yourpartnerinKankakee,KansasCity, andKalamazoo. When you need the support of a money-center bank, think first of First Chicago. Why? Because we’ll provide wide-ranging services and fast, decisive responses. Because we offer you a true partnership that supports instead of supplants. And because we give you the services of The First Team to deliver all our resources when and where you need them. Tom King, Vice President, explains:‘‘Every member of The First Team, from your relationship manager to the specialist in key financial areas, respects your position in the marketplace. We make it our business to back up your relation ships w ith strong, state-of-the-art products and services!’ Jack Clark, Vice President: “ First Chicago has created a new area called Credit Marketing Services which helps our relationship managers provide a streamlined credit process and fast response. Anytime!’ Adds Don Boreman, Assistant Vice President: “ Our relationship managers know your region thoroughly. Being based in Chicago, they provide the vital link that brings the expertise of all other members of The First Team directly to you and your customers!’ Get The First Team working with you in Kankakee, Kansas City, Kalamazoo, wherever you are. Call Tom, Jack, or Don at (312) 732-4100. FIRST CHICAGO The First National Bank of Chicago THE FIRST TEAM © 1 9 8 2 The First National Bank o f Chicago • M em ber FD.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 10 Bank Promotions ROMOTIONS and other an nouncements have been made by the following banks: P named vice president in charge of loan administration. He had been manager of the real estate depart ment for Commerce Bank of Kansas City, N.A. James L. Swarts has been named assistant vice president for affiliate bank administration. He had been an attorney in the holding company legal department since 1978. Thomas A. Wallingford has joined Commerce Bank as vice president and head of the personal trust de partment. He had been vice presi dent and trust officer for a Kansas City area bank for two years. He re ceived a BA from the University of Kansas and his J.D. degree from the University of Missouri at Kansas Ci ty Law School. DAKTRONICS American National Bank, Chi cago: Anthony A. Scerba, 41, has been appointed president of Tel-AData Corporation and American Na tional Data, processing subsidiaries of the bank. Mr. Scerba is a vice pres ident of the bank, which he joined in 1970. It was also announced that Amer ican National will join the Cash Sta tion, Inc., automatic teller machine system and plans to be fully opera tional on the system by the third quarter of 1983. It will have ATMs at the main bank, the facilities at LaSalle/Wacker and the Gateway Center and the newest one at Chi cago Mercantile Exchange, which is scheduled to open in January, 1984. Continental Bank, Chicago: George These are in addition to the more R. Baker, 53, executive vice presi than 100 Cash Station ATM s in the dent of the bank and Continental Il Chicago area. linois Corporation, has resigned Commerce Bancshares, Inc., Kan from those positions effective De sas City: Gene F. Hahn has been cember 31, 1982. He will be succeed- TIME & TEMPERATURE Our engineers will custom design a display to enhance the architecture of your building. Color drawIng and quote at no cost. Call or write today » # r | f f § C t | I t- il | .G H H I! 1 "f J if | 1 3 3 , O A.T~ Hull, Iowa Custom designed Elmhurst, Illinois Attached display CO DAKTRONICS, INC. .[N o r th e rn tr u st Com pany, Registers T ot information write J C h i Directors recently announced these promotions and new appoint ment: Gregg D. Behrens to vice presi dent in the commercial banking de partment. Gerald P. Harbison to vice presi dent in the personal banking depart ment. Norman J. Wohlken to vice presi dent in the trust department. Charles B. Hintz, from outside the bank, was appointed vice presi dent in treasury planning. “ Accepted Sale Registers by Bank Clerks Everywhere“ DAKTRONICS, INC. Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis National Boulevard Bank, Chicago: Richard T. M errill, p resi dent and chief executive officer o f C om m erce Clearing House, Inc., has been elected to the b a n k ’ s board, filling the vacan m cy left by Robert R.T. MERRILL C. Bartlett. ACORN Eagle Grove, Iowa Custom market report P.O. Box 128 Brookings, SD 57006 (605)692-6145 Toll Free 800/843-9879 (exc. AK, HI & SD) Telex 29-5013 DAKTRONCS BKNG HarrisBankcorp, Chicago: Ormand J. Wade, president and chief operating officer of Illinois Bell Tele phone Company, has been elected to the Harris holding company board and to the board of its subsidiary, Harris Trust and Savings Bank. His election brings the total number of directors to 19. cago: Warrensburg, Missouri Attached display D ed by Edward M. Cummings, execu-^ tive vice president, who has been the corporation’s senior officer in its London-based European headquar ters for the past two years. £ Mr. Baker leaves to pursue other business activities; however, he will be available on a part-time basis to serve Continental until July, 1984. In his current capacity as head o f^ general banking services, Mr. Baker is responsible for all corporate bank ing, domestic and international. He has been executive vice president since 1972 and head of general bank-^ ing services since 1976. Mr. Cummings, 61, is returning from London with more than 34 years of experience with Continen tal, all of it in corporate banking. ^ THE A C O R N PRINTING C O . O akland, Iowa If you've financed one holding company, you've financed them all. O rhave you? i l} tR Let’s face it. Holding com panies aren’t always alike. So if your correspondent bank thinks all holding com pany financing is the same, m aybe it’s time to look for a different correspondent bank. Like Continental Bank. At Continental, w e hold no preconceived notions about what a holding company in your situation might need. We put together a credit especially made for a holding com pany of your size, in your state, and in your circumstances. With the combination of terms your individual situation calls for. And with any necessary regulatory modifications, evaluation analyses, and even negotiation assistance you might require. That’s the sort of flexibility you v\ expect. A nd deserve. You expect decisiveness, ) too. At Continental, you get it. T tV Credit requests don’t go from committee to committee. T h ey go directly to your account m anager—the person w ho can say “yes” or “no” on most loans. You get a decision fast. From the person w h o made it. Call Robert C. Vasko at (312) 828-4046 about your holding com pany financing. We w on ’t try to put you in one pigeonhole or another. W e’ll just w ork out the credit that’s best for you. CONTINENTAL BANK 125th ANNIVERSARY Continental Illinois National Bank and Trust Company of Chicago, 231 South LaSalle Street, Chicago, Illinois 60693 Atlanta •Chicago •Cleveland •Dallas •D enver •Detroit Houston •Los Angeles •Minneapolis •N ew York San Francisco •Seattle •White Plains. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 12 M osler Plans Education, Display Center LANS for the construction of a multimillion dollar, 90,000 sq. ft. National Education and Display Center for the Mosler Safe Com pany, an American-Standard com pany were recently announced by company president Robert F. Mur phy. Scheduled for a summer-1983 completion, the new building will be adjacent to Mosler’s national ware house and distribution center on an 80-acre tract in the Southwestern Ohio Industrial Park in Hamilton, P Ohio. According to Joe McDonald, sen ior vice president, sales, installation and service, “ Our primary reason for the construction of this new facil ity is to reinforce Mosler’s long standing commitment to the tech nical excellence of our sales, installa tion and service forces. “ Our security systems and equip ment have become increasingly com plex and many of these products are based on micro-processor and com Two Minnesotans Named to Key ABA Posts WO Minnesotans are among four bankers appointed to key posts in the American Bankers Associa tion for 1982-83 by A B A President William H. Kennedy. Burton P. Allen, Jr., president of First National Bank of Milaca, Milaca, Minn., was appointed chairman of A B A ’s American Institute of Banking. A third generation banker, Mr. Allen replaces Thomas R. Smith, former A B A treasurer and president T B.P. ALLEN, JR. M.W. OLSON of Fidelity Brenton Bank and Trust Co., Marshalltown, la., who comple ted his one-year term as AIB chair man October 19. As chairman, Mr. Allen will serve on the A B A Educa tion and Policy Development Coun cil and the AIB executive commit tee. The latter board works closely with AIB state committees and Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis more than 600 local chapters in de fining and implementing A IB ’s goals and objectives. Mr. Allen has had distinguished service and A B A ’s Education Policy and Devel opment Council and the Community Bankers Advisory Council. He was president of the Minnesota Bankers Association in 1973-74. Mark W. Olson, president, Securi ty State Bank, Fergus Falls, Minn., was named chairman of the A B A Government Relations Council. Hugh M. Chapman, chairman of Cit izens and Southern National Bank, Columbia, S.C., was named vice chairman. The Council is the 100 member body which establishes the legislative and regulatory policy positions of the ABA. Mr. Olson was vice chairman of the council for 1981-82. He is also a member of the Minnesota Bankers legislative committee and chairman of the Bankers’ Advisory Commit tee to Congressman Arlan Stangeland. Thomas P. Rideout, president and chief operating officer of Savannah Bank and Trust Co., Savannah, Ga., has been appointed chairman of A B A ’s Banking Professions Coun puter technology. This product ad-< vance and the rapid growth of our service organization necessitate a larger, more modern facility to con duct extensive training of our tech nical service representatives.” Mr.< McDonald said the classrooms and laboratories will be equipped with advanced demonstration and test equipment. Laboratories and class rooms also have been designed to ac-{ commodate customer training. A large area of the new building will be devoted to the display of the many electronic and physical securi ty and remote transaction products < manufactured and sold by Mosler. M osler’s state-of-the-art security communication system, COMSEC, will be displayed. In addition, the building and its contents will be pro- < tected by a COMSEC which will monitor all fire and security devices. Also, the COMSEC system contains energy management devices which will regulate the heating and air con-< ditioning systems. The building will house several sales, installation and service sup port groups including the marketing communications department. cil. In that position he is responsible for ensuring that the actions of the 16 divisions within the council are^| supportive of A B A goals and objec tives. Thomas B. Shriver, executive vice president of the Pennsylvania Bank ers Association, has been named |) chairman of the A B A State Associ ation Division, having served as its vice chairman the past year. George Morvis Elected To BAI Board of Directors • George M. Morvis, president of Financial Shares Corporation, Chi cago, a bank consulting firm, w a s # elected to a three year term on the board of directors of the national Bank Marketing Association. Mr. Morvis became the first non banker ever nominated and elected# to the board. The action took place at the B M A ’s annual convention re cently in Phoenix. Mr. Morvis also was selected as the first recipient of the A ssocia-# tion’s William M. Dalton Service Award, signifying outstanding con tribution to the BM A membership, and named after the late Bill Dalton, an early participant and longtime® service member of the Association. 13 •B M A Announces Golden Coin Awards OP PRIZE in the 1982 Golden Coin Awards competition of the Bank Marketing Association, which annually judges out-standing; mar keting and community affairs pro grams of the nation’s financial in stitutions, went to Neworld Bank for Savings, Boston. Besides “ That’s My House” of Neworld, four other banks also won G olden Coins for outstanding achievement in their size categories. They were First National Bank of Crossville, Crossville, Tenn.; Irwin Union Bank and Trust Company, Col umbus, Ind.; Overland National Bank, Grand Island, Neb.; and Commonwealth National Bank, Har risburg, Penn. Overland National captured the marketing trophy in the less than $100 million asset category for its program “ B a n k ers’ B onus —A Deposit Incentive.” Among six other banks which were presented a Certificate of Merit by BM A during the Golden Coin awards presentation, two were from this area: Community Affairs ($1 billion or more) — IntraWest Bank of Denver (formerly The First National Bank of Denver). “ First of Denver PaintA-Thon.” Marketing ($0 - $100 million) — Bank of Norfolk, Norfolk, Neb. “ The Answer: Money Market Checking Program.” BM A also listed award winners in the three individual categories of Best of Print, Best of TV and Best of Radio. Winners from midwestern and mountain states were announced in these categories: T ^ ^ ^ ^ 0 H Best of Print The 55 total winners were selected from 700 entries. Newspaper: (Full page, black and white) Washington Bank & Trust, Naperville, 111.; (Campaign, black and white) First National Bank of Lake Forest, Lake Forest, 111. Consumer Magazine: (Full page, color) United Bank of Colorado, Denver. Business or Trade Publication: (Less than full page, color) First Bank System, Minneapolis. Direct Mail: (Lead inquiry cam paign) Mercantile Bancorp, St. Louis. Printed Material: (Campaign) United Missouri Bancshares, Kan https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis sas City. Specialty Advertising: ($2.50 to $10.00 unit cost) Lake View Bank, Chicago. Best of TV Thirty-five commercials were selected from nearly 200 entries for the TV reel. Under $15,000 production costs: The Exchange National Bank, Col orado Springs, Colo. Over $15,000 production costs: The First National Bank of Chicago; United Central Bank of Des Moines and First National Bank of Min neapolis. Best of Radio IRAs and ATMs were the most popular subjects for bank radio com mercials in 1982 in the 150 entries, of which 36 were selected as win ners. They are: Mountain States Bank, Denver; United Banks of Colorado, Denver; The First National Bank of Chicago; Pioneer Bank, Chicago; Iowa Bank ers Association, Des Moines; IowaDes Moines National Bank, Des Moines, and United Missouri Baneshares, Inc., Kansas City. Bank Directors, please note The 52nd Assembly For Bank Directors Boca Raton Hotel and Club, Boca Raton, Florida January 13-16, 1983 TEN OUTSTANDING SPEAKERS on THE CH A N G IN G ENVIRONMENT FOR THE BANKING INDUSTRY • • • • Deregulation Legislative O utlook Financial Services —A Look Ahead Challenges Facing Bank Directors Plus Discussion Sessions in which directors may ask questions and explore issues with the speakers. C o -s p o n s o r e d by The F o u n d a tio n o f th e S o u th w e s te r n G r a d u a te S c h o o l o f B a n k in g a n d Florida B a n k ers A s s o c ia tio n . For fu rth e r in fo r m a tio n , p le a se c o n ta c t: Dr. Alan B. Coleman or Nancy Griggs S.M.U. Box 214 Dallas, Texas 75275 Telephone: 2 1 4 /6 9 2 -2 9 9 4 or 2 1 4 /6 9 1 -5 3 9 8 Northwestern Banker, December, 1982 W hen you’re trading in m oney market instruments, look to B an kofAmerica. Why? Because we know the m oney market from top to bottom. Bank o f America is a trader in virtually all capital and m oney market instruments perm itted for banks. We have the people and facilities to m ake m ost transactions or invest ments you ’re interested in. We can help you with governm ent and m unicipal securities, for exam ple. Plus almost every type o f global investment, from repurchase agree ments and certifi cates of deposit to acceptances, Eurodollars and Federal funds. So whenever you need these or any other correspondent services, look to Bank of America. Call us in San Francisco at (415) 622-6909. In Los Angeles, at (213) 228-3288. Look to the Leader.™ BANK of AMERICA Bank of America NT&SA • Member FDIC © Bank of America NT&SA 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C o rre s p o n d e n t B an kin g S ervices 15 © Low interest loans * boost economy and outlook in Nebraska and Iowa © communities 41 4> HEN Ida County State Bank, _ Ida Grove, Iowa, decided fer a $1,000,000 loan pool at 10% in terest to bank depositors, it didn’t take long for bank officials across Iowa and surrounding states to re a l i z e the benefits to be gained from just such an “ Economy Booster Pro gram,” after reading about it in the W N orthwestern B anker . Since that time at least eight ©other banks in Iowa and Nebraska have offered similar low interest loan pools, with many others seek ing information from banks with ex isting low interest loan programs. ( i The eight additional banks known to have offered a low interest rate loan pool are: First Security Bank of Holdrege; First National Bank, Holdrege; First National Bank in ©Ogallala, and First National Bank, David City, all in Nebraska, and in Iowa: West Liberty State Bank; Farmers State Bank, Marion; Clar ence Savings Bank, and Community ©Savings Bank, Edgewood. As was reported in the March 8 N orthwestern B anker Weekly Newsletter, the rules of the “ Econ omy Booster” loan pool in Ida ©Grove were simple. The bank made the million in loan funds available to borrowers with qualified credit, who were established Ida County State Bank deposit customers. Items had ©to be purchased only from Ida Coun ty State Bank merchant customers. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The borrower had to provide proof of to of purchase, then pay a rate of 10% in terest for one year, variable rate thereafter on loans beyond one year. The loan limit was $7,500 maxi mum, $100 minimum with 25% down payment required. A joint check was issued to buyer and mer chant with items purchased used as collateral. The program, which began Febru ary 11, was scheduled to run through July 1, but the $1,000,000 loan pool was loaned out by June 1, according to James Lipton, presi dent of the bank. A breakdown of the million and the type of pur chases it went for follows: feed & fertilizer ..................$325,000 c a r s ......................................... 240,000 livestock ................................. 145,000 machinery ...............................97,500 home im provem ent................65,000 seed........................................... 48,000 fuel, gasoline .......................... 38,500 catch all, misc........................... 29,000 furniture & appliances............15,000 Mr. L ip ton received m any positive comments from the approx imate 260 borrowers and 45 mer chant customers affected by the pro gram. As one local car dealer com mented to the bank president, “ It’s nice to go to work when you know you can sell something.” Mr. Lipton also reported being contacted by several banks in Ne braska, three or four in Iowa and several on the east coast, many of whom had read about the program in the N orthwestern B anker and wanted more information on the pro gram and its progress. Of the eight other banks in Ne braska and Iowa presently offering low interest loans, the concept is basically the same in each case with the total amount being loaned rang ing from $500,000 to $1,000,000 and interest rates from 10%-12.55%. Not all the banks restricted the loans to bank customers. Several of fered the loans to anyone credit wor thy, stipulating only that the money be spent with local merchants. In each case community response has been “ excellent,” “ overwhelm ing,” “ generating a lot of positive good will” and “ gave people a chance to think positively about the present situation.” Although the benefits of the Economy Booster program in Ida Grove and other communities can not yet be put in exact figures, it is theorized that if each dollar turns over five or six times as retail dollars normally do, banks loaning out $1,000,000 will have given their communities a boost of $5,000,000. According to Mr. Lipton and oth er bank officials, the good will and overall positive attitude generated by the loan programs have made it a success all over. □ Northwestern Banker, December, 1982 16 Bank Officer Salary Survey A HE EFFECTS of the ailing econ omy in 1982, the dramatic drop in the inflation rate and expecta tions of only a mild recovery in 1983 are reflected in the Annual Salary Survey compiled recently by the T N orthwestern B anker . In the nine states surveyed, more than 200 banks responded with de tails about 1982 income and 1983 projected income for the top three officers, as well as percentage in crease plans for the rest of the staff. Here are the details from the current salary study. Question 1 Q. Do you plan to increase salaries for your top three officers in 1983? If “ Yes,” what do you estimate the percentage increase will be? Two salient points emerged in re plies to this question (Chart No. 1): 1. Among all respondents, 73.3% said they plan to increase the top three officers’ salaries, while 17.8% said “ No,” and 8.9% gave no reply. Among those who made a “ Yes” or “ N o” commitment, 80.5% said they plan salary increases, but 19.5% said “ N o.” This is in direct contrast to the Salary Survey published in the N orth w estern B anker S urvey January, 1982, N orthwestern B ank er when 96.6% said they planned a salary increase. That represents a 17% drop from one year ago. 2. Among the 80.5% planning to increase salaries, that increase is ex pected to average 7.55% for the top • three officers. That is down from the average salary increase of 9.4% in last year’s survey, a drop of 19.7% _ in the dollar values of projected^ salary increases. However, when the respondents were asked to list the exact base salary and total income Chart No. 2 Q. What is the planned income in 1983 for the #1, #2 and #3 officers, and what was their 1982 income? This information is presented below in two basic categories— Base Salary and Total Income. Under the dollar amounts for 1983 Base Salaries (col umn 1) the figures in parentheses show the percentage increase in Base Salary over 1982. Similarly, under the dollar amounts for 1983 Total Income (column 5) the figures in parentheses show the percentage increase in Total Income over 1982. Col umns 2 and 4 show the percentage relationship between Base Salary and Total In come for their respective years. #1 Officer (1) Deposit Size BASE SALARY 1983 (2) As % of Total Income 1982 (3 ) (4 ) As % of Total Income TOTAL INCOME 1982 1983 (5) (6) $42,203 (5.3%) 57,679 (5.8%) $40,094 75.1% 68,498 (3.2%) 66,368 63,370 76.1% 88,288 (5.9%) 83,314 76.4% 19,587 75.7% 27,510 (6.4%) 25,859 26,849 (1.0%) 73.6% 26,582 76.7% 36,488 (5.3%) 34,648 $25 to $50 million 37,113 (7.2%) 90.1% 34,607 93.5% 37,032 Over $50 million 47,776 (7.4%) 82.5% 44,487 83% 41,209 (11.3%) 57,934 (8.06%) 84.5% 15,789 81.8% 19,922 (3.2%) 19,309 $10 to $25 million $16,832 (3.8%) 22,651 (6.2%) 77.4% 21,336 76.9% 29,279 (5.5%) 27,755 $25 to $50 million 29,349 (6.8%) 83.1% 27,475 83.3% 35,302 (6.99%) 32,996 Over $50 million 40,490 (7.5%) 82.6% 37,670 81.2% 49,028 (6%) 46,422 Under $10 million $31,474 (4.8%) 74.6% $30,019 74.9% $10 to $25 million 42,389 (5.6%) 74.3% 40,138 73.6% $25 to $50 million 53,037 (6.4%) 77.4% 49,841 Over $50 million 67,550 (6.6%) 76.5% Under $10 milion $21,022 (4.3%) Chart No. 1 $10 to $25 million Q. Do you plan to increase salaries for your top three officers in 1983? Yes 54,512 #2 Officer 53,612 #3 Officer No Answer ■ 1 8.9% Q. How much increase do you plan for these three officers? Increase stated by percentage = 7.55% Increase stated by actual dollar amounts was lower and = 5.64% https://fraser.stlouisfed.org Northwestern Banker, December, 1982 Federal Reserve Bank of St. Louis Under $10 million 17 #dollar figures for each of the top three officers, the increases stated in these dollar amounts are much less than the 7.55% increase they stip ulated above. The percentage in® creases for all responding banks among their top three officers totals only 5.64% by using the actual dol lar figures entered. For banks under $10 million deposits, the increase •then becomes only 4.3%; for banks of $10 to $25 million deposits it is 4.27%; for banks of $25-$50 million it is 6.8%, and for banks over $50 million it is 7.17%. The average in c r e a s e figured on this basis (5.64%) thus is 40% less than the 9.4% in crease calculated in the last survey for 1982. The 5.64% increase also is more in line with the average in• crease forecast for a number of other industries, keeping in line with the inflation rate. A study of the responses shows _ that in some cases the #1 officers ®will have lesser increases than their other officers. In many instances where this is true, the #1 officer is the majority owner and is planning ^greater increases for the rest of the w staff than himself. In several cases, the #1 owner is actually cutting his salary and total income (one by as much as $6,000) to beef up the in^ c o m e of his #2 and H3 officers and other staff. Question 2 Q. What is the planned income in ||» 1983 for the #1, #2 and #3 officers, and what was their 1982 incomes? Results for this question are pre sented in Chart No. 2. Total income includes base pay, cash bonus, and the value of other benefits paid or accrued (e.g., pension, profit-shar ing, insurance income, car, dues, etc., but excluding dividends. The information was requested separate ly for each of the top three officers. For purposes of a close compari son, responding banks were divided into four deposit groups—under $10 million, $10 to $25 million, $25 to $50 milion and over $50 million. A fews banks of over $100 million re sponded; however, the vast majority of banks fell below $100 million deposits. In Chart No. 2, Base Salary and Total Income are give for both 1983 and 1982. In the Base Salary sec tion, two extra columns show the percentage of Base Salary in rela tion to Total Income in each year. Under the figure for 1983 Base Sal https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ary, the figures in parentheses show the percentage increase of salary over 1982. Similarly, the percentage increase in 1983 Total Income over 1982 is shown in parentheses. Among all respondents to the sur vey, 43.3% of #1 officers are listed as majority stockholders. Although a number of them had total income ap preciably above the averages shown in Chart No. 2, a breakout of all HI majority stockholders shows that as a group their income is only a few thousand above the averages shown in the chart. Chart No. 3 In past Salary Surveys conducted by the N orthwestern B anker , a comparison has been made showing the percentage relationship of in come among HI, H2 and H3 officers. These relationships are shown in Chart No. 3. The percentage rela tionships from the survey one year ago appear in parentheses. Question 3 Q. Other than your top three of ficers, what percentage increase, if any, do you plan for other officers and for your non-officer staff? For “ other officers,” the figures vary little by bank size, falling in a narrow range of 6.14% to 6.54% in creases, and averaging 6.36% as shown in Chart No. 4. Salary in creases for “ non-officer staff” are slightly higher with an average of 6.43%. These increases will be based in most of the responding banks (57.22%) both on merit and cost-ofliving. In 31.63% of the banks, raises will be based only on merit, and in 11.15% of the banks the in creases will be based only on a costof-living adjustment. Chart No.3 Showing the percentage relationship of Total Income of #2 officer with #1, and of #3 with #1 and #2. Figures from the surveys of three preceding years are shown for #2 officers, and for last year only for #3 (prior years not available). #2 Officer to #1 Officer Deposit Size 1982 1981 1980 1879 Under $10 million 65.2% 73.6% 61.1% 62.4% $10 to $25 million 63.3% 67.8% 63.8% 66.4% $25 to $50 million Over $50 million 51.5% 69.4% 72.4% 71.5% 55.5% 74.2% 76.5% 78.7% Avg. of all groups 58.9% 71.3% 68.5% 69.8% #3 Officer to #1 Officer Under $10 million 47.2% 49.3% 44.3% 40.3% $10 to $25 million 50.8% 56.1% 49.3% 50.7% $25 to $50 million Over $50 million Avg. of all groups 51.5% 57.2% 55.2% 56.8% 55.5% 58.6% 57.6% 57.5% 51.3% 55.3% 51.6% 51.3% #3 Officer to #2 Officer Under $10 million 74.7% 67.9% $10 to $25 million 80.1% 83.8% $25 to $50 million 89.1% 82.0% Over $50 million 86.6% 78.3% Avg. of all groups 82.6% 78.0% Northwestern Banker, December, 1982 18 Chart No. 4 Q. Other than your top three officers, what percentage increase, if any, do you plan for other officers and your non officer staff? Among those who plan an increase: Other o ffic e rs ............................... 6.36% Non-Officer S ta ff......................... 6.43% Q. Will theseincreases be based on Merit, Cost-of-Living, or Both? Merit .......................................... 31.63% Cost-of-Living............................. 11.15% B o th ............................................ 57.22% Question 4 Q. How many full-time and parttime employees do you have? Chart No. 5 gives the results from this question showing the average number of employes for each of the four deposit sizes. (The number of part-time employes in each bank was divided by two to convert their numbers to full-time employes for this compilation.) To pinpoint the comparisons more accurately, the deposits-per-employe were computed for each bank re sponding to the survey. These were then averaged by the four deposit groups and are reflected separately in Chart No. 5. While there were a few dramatic variations, the con sistency by deposit size groups of deposits-per-employe is striking. A total of 36 banks out of the more than 200 responses had a relation ship of $2 million or more depositsper-employe, and four of those had $3 million or more deposits-peremploye. A like number fell below $1 million per employe. The final averages show the re spondents under $10 million depos its with a figure of $1.06 million deposits-per-employe. The other three groups all had approximately $1.5 million deposits-per-employe. This portion of the survey was not reviewed in the study reported one year ago. However, it was two years ago and a review of those figures showed that overall, banks continue to maintain a deposits-per-employe ratio fairly close to that of recent years. The notable exception is among banks with deposits in ex cess of $50 million. In that group, which reported in the current survey an average of 53 employes per bank and deposits-per-employe of almost $1.5 million, the 1980 survey showed an average number of employes per bank of 91.7 and deposits per em ploye of only $938,318, a marked turnaround. □ Chart No. 5 Q. How many full-time and part-time employes do you have? Column 1 shows average number of employes per bank for the four deposit sizes as reported from the survey. Column 2 shows the same figure from the 1980 survey, the last year this tabulation was made. Column 3 shows the Deposits-per-Employe from the 1982 survey (computed per bank, then averaged). Column 4 shows the comparable figure from the 1980 survey. Avg. No. of Employes Deposits-per-Employe (1) 1982 (2) 1980 (3) 1982 (4) 1980 Under $10 million 6.7 6.7 $1,060,000 $1,030,000 $10 to $25 million 11.8 11.9 $1,460,000 $1,350,000 $25 to $50 million 25.7 28.3 $1,500,000 $1,250,000 Over $50 million 52.9 91.7 $1,490,000 $ 938,318 Note: The reporting banks in Colorado, Wyoming and Montana, for banks under $50 million deposits, reported an unusually large number of employes. Reporting banks in excess of $50 million deposits in those three states had almost identical averages with other states for employes and deposits-per-employe. Chart No 5 changes as follows for the first three deposit size groups without those three mountain states (figures in parentheses are those for the three states only): Under $10 million 5.7 (13.63) $10 to $25 million 11.0 (20.5) 24.1 (32.3) $25 to $50 million Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis $1,220,000 ($ 665,000) $1,750,000 ($ 880,000) $1,730,000 ($1,040,000) At First Chicago Conference: • Speakers See Slow Recovery in 1 9 8 3 «> By BEN HALLER, JR. Editor and Publisher RECORD number of bankers and^ their spouses attended the 36th Conference of Bank Correspondents hosted last month by the First Na tional Bank of Chicago. This year’s conference was held at the Marriott^ Hotel on North Michigan Avenue, a departure from the years of holding the conference at the old Conrad Hil ton Hotel, and drew about 800 bank ers, plus their spouses. In addition, a^ new format condensed the formal program into a one-day conference on Monday, a breakfast and briefing Tuesday morning for those bankers who signed up for personal visits to^ the bank, and the rest of Tuesday morning in personal meetings with bank personnel in operations and money market departments. In his welcoming remarks to open< the conference Monday morning, First Chicago President Richard L. Thomas said, “ Despite all the bad news on domestic and international fronts, we have confidence in our< economy. It is working and we be lieve we will work our way out. The key is productivity, which gained at a 4% annual rate in the third quar ter, the highest since the first quar-f ter of 1981. The new deposit account (available December 14) will allow us to compete more effectively. The challenge is to draw back as much of the more than $200 billion in Mone Market Mutal Funds as we can with out shooting ourselves in the foot!” E. Neal Trogdon, senior vice pres ident and head of the U.S. Financial Institutions Division, said “ We< must look at the strengths of our fi nancial institutions as support for our resurgence — our capital, our ac cess to markets and access to fund ing for those markets, as well as the* management of our companies and our ability to direct them. These will be the key to our survival.” Roy E. Moor, senior vice presi dent and chief economist of the( bank, stated “ 1983 probably will be the toughest year for the banking in dustry since World War II.” He looks for a slight loan demand pick up in the second half of 1983. “ We1 think the economy already is in the A 19 LEFT—George Will (left), syndicated columnist who was speaker at The First National Bank of Chicago’s banquet for its 36th Conference of Bank Correspondents, is pictured with four members of senior management (from left): E. Neal Trogdon, sr. v.p./head, U.S. Financial In stitutions Division; George L. Davis, executive vice president and head of U.S. Banking Dept.; Barry F. Sullivan, chmn., and Richard L. Thomas, pres. RIGHT— David J. Vitale (seated), sr. v.p., financial markets division, is introduced by Thomas M. King, v.p., U.S. Financial In stitutions Division. slow stage of recovery,” he stated. A summary of his talk appeared in the December 6 Weekly Newsletter. Several officers of the host bank ^ to o k part in two morning panels. The first was Economic Market Out looks, addressed by Dr. Moor; Rob ert M. Hultgren, vice president, municipal finance division (The ^ Bond Market); Gary P. Brinson, sen ior vice president and chief invest ment officer, trust department (The Stock Market Outlook), and F. Ger ald Byrne, vice president, financial markets division (The Money Mar ket). The panel was moderated by Edward M. Roob, senior vice pres ident and vice chairman, asset and liability management committee. (||, The Banking Trends Panel was moderated by Mr. Trogdon. Claude Stone, vice president, systems and development, discussed Technology Trends; Lawrence C. Russell, senior i||i vice president and department head, service products department, ad dressed the Unbundling of Fed Ser vices, and Martin T. Farmer, direc tor of legislative affairs, government ||) relations, reviewed Congress and the Banks—Deregulation or Reregula tion? The traditional noon luncheon at Taking part in the Banking Trends panel were 1st Chicago officers Martin T. Farmer (left), dir. of legis. affairs, govt, relations, and Lawrence C. Russell, sr. v.p. & dept, head, services products dept. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis which eight department heads are treasurer, asset and liability man invited to present four-minute out agement committee, whose topic looks for industries they serve, was was Funding Strategies. The Conference closed out the day presided over by George L. Davis, executive vice president and depart with a banquet presided over by Mr. ment head, U.S. Banking Depart Thomas. Brief remarks were made by First Chicago Chairman Barry F. ment. Two workshops were presented in Sullivan. He said First Chicago is the afternoon. The first was mod planning for the niche it will fill, and erated by Thomas M. King, vice each of the banks must do the same. president, U.S. Financial Institu Mr. Sullivan also described the pro tions Division. David J. Vitale, sen cess now being followed at First Chi ior vice president, financial markets cago in an effort to commit to writ division, discussed Asset and Lia ing in a single sentence a description bility Management for a Dereg of the bank and its mission. ulated Industry. After looking at George Will, syndicated columnist the challenges posed by deregula and contributing editor of News tion, the management of interest week magazine, was invited to re rate risk, and setting of objectives turn as the banquet speaker this and effective planning, a lively ques year after the excellent reception ac tion and answer period followed. corded his address last year. After a break, this was followed A Tuesday morning breakfast and by a talk on Incentive Compensa operations briefing was provided for tion and Related Issues for Key Of those bankers who wished to remain ficers of Community Banks, a pre for personal visits to operating and sentation given by Deloitte Haskins money market departments at the & Sells public accounting firm. The First National Bank. Approximate formula described was reviewed in ly 200 bankers took part in this ex detail by slides and also was con tended offering to the conference. □ tained in an extensive folder given to each participant. The second workshop was moder ated by Stanley Nitzberg, vice pres ident, U.S. Financial Institutions Division. Strategic Planning was discussed by A.D. Frazier, senior vice president and department head of the corporate planning depart ment. After the break, the second session centered on Trends in Bank Holding Company Financing. This was given by Lawrence K. Rocca, vice president of the international A participant in the Economic Market corporate finance division. The final Outlooks panel, discussing The Bond Mar talk was given at the workshop by J. ket, was Robert M. Hultgren, v.p., municipal Mikesell Thomas, vice president and finance div. Northwestern Banker, December, 1982 20 LEFT— CONFERENCE speakers included: Doyle Arnold, sr. dep. comptroller, Comptroller of Currency, Washington, D.C.; ABA Pres. Bill Kennedy, chmn., Natl. Bk. of Commerce, Pine Bluff, Ark.; Conf. Chmn. Robert Swaim, pres., Citizens St. Bk., Marshall, Ind., and ABA Ag. Bkrs. Div. Chmn. Bud Wilier, exec, v.p., Decorah St. Bk., Decorah, la. RIGHT—Ag Credit Outlook panelists were: Dean Johnson, sr.v.p., Hutch inson Natl. Bk. & Tr., Hutchinson, Kan.; John Martin, v.p., Omaha Natl. Bk., Omaha, Neb.; Moderator Dr. William Herr, So. III. Univ.; Doue# Flory, exec, v.p., Rockingham Natl. Bk., Harrisonburg, Va., and Robert Ranger, sr.v.p., Oneida Natl. Bk. & Tr., Utica, N.Y. ABA Ag Bankers Meet in Chicago By STEVE BURCH Associate Publisher ITH three consecutive years of declining farm in come providing a backdrop, ag bankers from across the country met in Chicago November 7-10 for the 61st Agricultural Bankers Conference. Sponsored annually by the American Bankers Association, this years selected theme was—“ Agribanking: Strategies and Techniques for Serving Agriculture.” The confer ence, which featured over 70 speakers, consisted of gen eral sessions, workshops and forums that addressed the new banking trends and services of the 80s. The problems facing producers today were quickly addressed during the opening general session by A B A President William Kennedy, chairman of the National Bank of Commerce, Pine Bluff, Arkansas. He pointed to overproduction and crop carryover, low commodity prices, declining collateral positions, and the decreas ing export market. Despite these factors, Mr. Kennedy believes that economic recovery on the farm is in pro gress. “ In looking ahead at what’s in store for the agriculture industry in the coming year, I think we’re already seeing some hopeful signs. It would be unre alistic to expect a quick turnaround. But the inflation rate has dropped significantly. Interest rates are com ing down. These are two crucial factors in economic recovery. Our job today as bankers is to prepare our selves for the challenges the turnaround will bring.” A B A Agricultural Bankers Division Chairman Bud Wilier, executive vice president, Decorah State Bank, Decorah, Iowa, set the stage for the “ working” tone of the conference in his presentation to the bankers. “ We have all heard of the perilous condition of the U.S. farm economy. The problem facing us, as bankers, is identi fying the customers with whom we will continue, and W https://fraser.stlouisfed.org Northwestern Banker, December, 1982 Federal Reserve Bank of St. Louis those with whom we must take action against to m in i# mize losses.” With the nature of the conference well described by Mr. Kennedy and Mr. Wilier, the bankers spent many hours attending the four forums and 14 workshops scheduled. Forum topics included marketing strate# gies for ag products; marketing strategies for ag bank services; computer aids in bank ag lending, and analyz ing and managing spread and gap for ag banks. Work shop sessions also covered a wide range of topics that included areas of alternate and innovative funding and® financing and managing loan repayment risks. Land is sues, stress management, bankruptcies and the future information needs of ranchers and farmers were also topics of focus in the workshops. Featured conference speaker Secretary of A gricul® ture John Block shared the optimism of the bankers and sees the early signs of recovery taking shape. In that light he emplored the bankers to encourage their farm customers to participate in federal set aside pro grams. “ Do it for the Gipper,” he urged, referring to® conference speaker. RIGHT— Orion Samuelson, v.p., WGN Con tinental, Chicago, was commodities outlook panel moderator. 21 LEFT— Some of the Minnesota bankers present included: Dave Hennies, v.p., Arlington St. Bk., and his wife Mary, and Wayne Berthiaume, admin, v.p. MBA. RIGHT— Dick Hawkins, prof., Univ. Minn.; Ron Johnson, v.p., 1st Natl. Bk., Jackson, Minn.; J.P. Mansfield, III, a.v.p., 1st Bk. Mpls., and Tom Bartholomay, v.p. FBS Ag Credit Corp., Mpls. President Reagan’s pre-political career. Most of his remarks, however, were directed towards the interna tional problems affecting U.S. agriculture. Secretary Block clearly defined four international areas of concern that have staggered the farm econ omy in recent years. (1) The restrictive trade practices existing in countries like Japan finds local workers paying $1 for a U.S. orange and over $17 a pound for U.S. beef. (2) The subsidy of agriculture by European countries is excessive and does not allow for fair trade in the export market. (3) Worldwide recession has crip pled expansionist 3rd world countries who desperately need our grain but do not have purchasing ability. (4) * jfjt* ;_ And finally the U.S. position as a creditable supplier in the world market was shattered with the Russian grain embargo and our dominance of market share was sacri ficed. The Secretary told the bankers that he is hard at work at all levels of international politics searching for solutions to these problems. He has chartered an ag gressive course for U.S. agriculture in the 80s, but re minded the bankers that the turnaround will be slow in coming. He closed by emphasizing that U.S. producers will have to implement survival management practices during this time and that agri-bankers need to consider cash flow lending over networth lending. □ ■ :;■ .. LEFT— Visiting the exhibit area were: Dale Jacobsen, v.p., George St. Bk., George, la., and his wife Joan, and Suzanne and Ken Boeder, corr. bkg. off., Security Natl. Bk., Sioux City, la. RIGHT—Judy Trent interviews “ Fred the Head” at the International Minerals Chem. exhibit. LEFT— Panelists discussing the future information needs of ranchers and farmers were: Dr. Steve Sonka, prof., Univ. ill.-Urbana; Dr. Tom Frey, prof., Univ. III., and Norm Carlson, partner, Arthur Andersen & Co., Chicago. RIGHT—The Ag Commodities Outlook panel featured: Topper Thorpe, gen. mgr., Cattle-Fax, Denver, Colo.; Melvin Middents, sr. v.p., Cargil, Inc., Mpls., Minn., and Leo Mayer, assoc, admin., US DA, Wash., D.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 22 M GIC M ortgage Survey Spots Upturn ORTGAGE lenders nationwide project a 35% origination growth rate in 1983 — a marked im provement from last year’s antici pated 4% de crease, according to a recent sur vey by Mortgage G u a ra n ty In surance Corpor ation (MGIC). O v e ra ll r e sponses indicate that in an effort to spur a housing recovery, most lenders plan to offer lower rates, originate a greater number of loans and provide wider mortgage instru ment choices for borrowers. The survey of 500 lenders nation wide is the third in a series of re search studies designed to track changes in the mortgage lending en vironment. “ Actual 1982 originations were, in fact, down approximately 7% from 1981, underscoring the importance of these lending executives’ projec tions,’ ’ said Leon T. Kendall, chair man of MGIC. While the 1983 origination outlook is well below the 1979 and 1980 levels, the projected volume would exceed this year’s estimated $90 billion origination total. According to Mr. Kendall, lenders’ mortgage rate forecasts support their market expansion expectations. In fact, the majority of those sur veyed believe 1983 mortgage rates will range between a low of 12.75 and a projected high of 14.75. Responses indicate that the level of mortgage activity will be closely tied to the lenders’ ability to offer af fordable and diverse mortgage pro grams. M GIC’s previous survey sug gested that the new mortgage instru ments were designed to meet lender concerns in a sellers’ market. The prominent loan plans now emerging are more attuned to buyers’ needs than in the past, which reflects a shift in the nature of the market. “ Cafeteria style” loan offerings are likely to continue with no one instru ment dominating mortgage activity — with the adjustable rate mortgage (ARM), early ownership mortgage (EOM) and graduated payment mort gage (GPM) combination being the most favored among lenders. M Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mr. Kendall noted that while a variety of ARM plans are being of fered, lenders are establishing greater market standardization with this instrument. Compared with last spring’s survey results, fewer ARM forms are being offered and those that are appear to have similar loan characteristics. The majority of lenders prefer an nual payment and rate adjustments, with 33% approving negative amorti zation. And, in line with 1982 mort gage problems, the Federal Home Loan Board’s average mortgage con tract rate continues to be the com mon index used for adjustments. Furthermore, nearly one-half of all lenders plan to discount the initial rate on ARM s — compared with only one-third from the spring survey. The EOM, however, also is likely to play an increasingly important role in the 1983 market because of its ability to meet the needs of secon dary market investors. Recently in troduced as an accelerated payment loan, the EOM alternative is current ly being offered by less than onequarter of all lenders. Over 45% of the lenders plan to offer this mort gage program next year — up from 21% now offering the program this year. In addition, the traditional fixed rate mortgage is expected to retain its share of the mortgage market. M GIC’s survey found that 65% plan to continue offering this traditional instrument in 1983 — with the great est support coming from mortgage bankers. Yet, in terms of total vol ume, Mr. Kendall noted that its pro jected growth is only a 2% increase over this year’s level of activity. Greater use of the GPM — pro jected to increase 10% — indicates lender willingness to provide an op tion that meets borrower funding needs — particularly for the first time homebuyer. Furthermore, to at tract potential borrowers, certain mortgage features are being utilized in combination with affordable in struments, such as the GPM. The pledged account, for example, will be offered by nearly one-third of the lenders and the use of builder-buy downs is projected to reach 65% in 1983. Due to mortgage rate movements experienced in 1981 and 1982, the trend toward seller financing is also expected to continue. Survey results* show that 30% of the lenders will provide servicing for land contracts between seller and buyer. In addi tion, the option of offering blended rates to promote affordability and* facilitate home sales will be provided by 75% of those surveyed — which suggests a compromise in light of the recent due-on-sale decision. “ Responses support the view that1 housing’s pent-up demand will begin to enter the market next year. Lend ers, in an effort to balance their need with consumer demand, will be turn-. ing increasingly to mortgage pro-1 grams that meet the affordability challenge,” Mr. Kendall concluded. Northern Trust Gets Florida Bank Charters ( Northern Trust Corporation, Chi cago, has announced the merger of its trust subsidiary, Security Trust Company, and its Edge A ct subsid- 1 iary, Northern Trust Interamerican Bank, into a new federally chartered bank. The new bank—Northern Trust Bank of Florida N. A .—will of fer a full range of domestic, commer cial and international banking ser vices, as well as trust and asset management services. Security Trust Company, Miami, was established in 1938 and ac quired by Northern Trust in 1971. Minnesota Banker Named To Regional NABW Post Nancy L. Nemitz was elected regional director - north central area of the National A ssociation of Bank W om en, Inc. at the asso c ia tio n ’ s 60th annual conven tion held re cently in Los A n g e le s . M s. Nemitz is assis tant vice presi NEMITZ dent of product management and development for First Bank System, Inc., Minne apolis. As one of eight regional directors, she represents N ABW members in Minnesota, Iowa, Nebraska, North Dakota, South Dakota and Wiscon sin. In this capacity she will act as their liaison with the association’s national board, supervise the state councils and serve as national repre sentative at all state conferences. ( 23 ®Banco M ortgage Forms Corporation to O ffer Access to Secondary M arket # D ANCO Mortgage Company, a wholly owned subsidiary of Northwest Bancorporation, has formed a new corporation to provide easy access to the secondary market ^ f o r capital to finance “ affordable m ortgages” for residential real estate. Walter C. Johnson, president of Northwest Bancorporation’s Finan4|i cial Services Companies, said he ex pects the new venture will become a “ very substantial program” for Banco Mortgage. He said the “ conduit program” 9 will be a significant alternative to the Federal National Mortgage A s sociation (“ Fannie Mae” ) and the Federal Home Loan Mortgage Corp. (“ Freddie M ac” ) programs, current# ly the major outlets for supplying a secondary market for conventional mortgages on a continuing basis. D Here is how the program will work, Mr. Beal stated. RFC and MGIC will enlist a na tionwide network of originating lenders. Among RFC’s mortgage products are: •F ifteen-year term “ Jum bo Loans,” providing up to $500,000 for high value residential property. •Thirty-year term, fixed rate mortgage, with a minimum downpayment of 5 percent. •Graduated payment mortgage (GPM), combining the convenience of a fixed rate with lower payments during early years of the loan; also permits permanent buydowns. •Wraparound mortgage, for exist ing property with a low-rate as sumable mortgage and a high selling price. •A djustable rate m ortgages (ARM) for homeowners and invest ors. •Early Ownership Mortgage, al lowing earlier ownership through rapid equity buildup. Marketing Tip of The Month D.W. BEAL R.L. WALKER Banco Mortgage, the third largest mortgage banking organization in the country, began offering the pro gram in early November through a new subsidiary, Residential Fund ing Corporation, with Mortgage Guaranty Insurance Corporation (MGIC), Milwaukee, as the mort gage underwriter and pool insurer. David W. Beal, president of Ban co Mortgage, announced that Rebec ca L. Walker, former Banco Mort gage branch manager, has been named president of Residential Funding Corporation (RFC). Mr. Beal said RFC and its conduit program were designed to address what he views as fundamental, and permanent, changes in methods of funding real estate mortgages. Eligible property types include single-family detached homes, twoto four-unit homes, townhouses, row houses and patio homes, and condo miniums (up to three stories), in loan amounts ranging from $30,000 to $500,000. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Customer needs don’t stop when the hands on the bank clock point to closing time. Recognizing this and, what’s more, doing something about it, a mid-size East Coast bank instituted a “ Hot Line” telephone ser vice to provide continual financial service, not only to new commercial customers, but to non-customers as well. Calls made to a special number during non-banking hours are routed through a telephone answering service to officers of the bank’s commercial lending division. The bank’s officials emphasized speed and efficiency in returning the calls, which range from requests for information on short-term loans to advice on equipment financing. If the caller is not attuned to con ducting business by telephone, the bank of fers the option of setting up an appoint ment either in the bank or at the caller’s place of business. Using only six percent of its marketing budget, the bank advertised weekly through the local newspaper for six weeks, three times a week as a tag to any commercial service featured on the radio, and via one direct-mail promotion. According to bank management, the first eight weeks of the program produced more than 15 calls seeking either financial advice or loan information. Loans totaling in ex cess of $260,000 resulted from “ hot line” calls. For more information, contact Sandra Carcione, Division of Communications, Bank Marketing Association, 309 West Washington Street, Chicago, Illinois 60606. Phone: 312/782-1442. Centerre Corporation Told Prime Could Drop to 10% The prime interest rate will drop to 10% in a few months, if the Fed eral Reserve continues its policy of tight money supply. That was the prediction made last month by the former chairman of the Council of Economic Advisers, Murray L. Weidenbaum, speaking in St. Louis before the 36th annual Centerre Bank Correspondents Con ference. Mr. Weidenbaum said, “ It is clear that the recent reductions in interest rates surely are a big plus for future business prospects. Those rates have come down in earnest.” He added, “ the prime rate declined from 161/2% in early July to the current 12% and I expect that the prime rate will get down to 10% in the next few months.” The Mallinckrodt Distuingished University Professor of Economics from Washington University also praised the Federal Reserve for re ducing inflation. At the Centerre Bank Conference some 900 bankers throughout the Midwest gave their economic and fi nancial forecasts for 1983. Asked how they would rate Presi dent Reagan’s record to date in terms of decisiveness/strong leader ship, 87.9% gave the president an “ excellent/good” rating, while 9.6% answered fair or poor. On the topic of business condi tions nearly 80% said conditions will be better by the end of the second quarter of 1983. On economic and financial mat ters, bankers believe that by this time next year, the prime rate will be in the 10 to 13% range; unemploy ment will be in the 9 to 10% range; and the Dow Jones will be in the 950 to 1,350 range. Over 80% of the bankers sur veyed felt that 1983 housing starts will be up over 1982 levels, and that the price of gold will be in the $400 to $550 range. An overwhelming majority, 82.9%, favor reducing the growth rate of so cial security benefits, while nearly 60% do not favor a cut in benefits from current levels. Concerning their own industry the bankers felt that bank earnings in general in 1983 will be up slightly over 1982. Centerre Bank is the lead bank of Centerre Bancorporation. Northwestern Banker, December, 1982 24 The effortless, painless, “ Fedless” way to process cash letters. the JFedless Connection M aybe y o u ’ve been processing all your checks through the Fed to save operating costs. You may be able to save more money by processing those checks through us. We have the advantages that can make it well worth your while: professional staff — over 77 years of accumulated banking experience to assure you of competent, efficient service, proximity — w e’re probably closer than the Fed. And our messenger will visit your bank daily . . . accom m odating your work schedule . . . and ours. price — our pricing schedule is competitive with the Fed’s. And we give you something extra of real value: someone you know — on a personal basis — on the other end of the phone whenever there’s a problem or question. Call and ask for our brochure. And ask us to make a free evaluation of your operation. Let us show you how we can deliver service that’s as good as (or better than) the F ed’s. Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Needless to say, the Fedless Connection is the peerless way to process your cash letters. a8 the Human Interest bank Commercial National Bank of Peoria MEMBER F D I C COMMERCIAL BANKING DIVISION 301 S. W. ADAMS • PEORIA, ILLINOIS 61631 PHONE: (309) 655-5225 WATS LINE 1-800-322-2212 25 proved the application of Central of Illinois, Inc., Sterling, to acquire Mount Morris Banshares, Inc., Mount Morris, and thereby indirect ly acquiring Citizens State Bank of Mount Morris. Citizens State Bank of Mount Morris reported assets of $24,149,963 on June 30, 1982. Central National Bank of Sterling reported assets of $140,051,649 on that date. r Illinois D.R. Lovett, chmn. & pres., Dixon W. J. Hooter, exec. v . p . , Chicago Rockford President Named R. Richard Bastian III has been named president and chief executive ® officer of First National Bank, Rock ford. He succeeds Howard E. Bell, who will remain as chairman of the bank’s board but will now devote his time to First Community Bancorp, • Inc., the multi-bank holding com pany where he serves as chairman, president and chief executive officer. In making the announcement on behalf of the First National board of ® directors, Mr. Bell noted that this election culminates a nine month search for his successor, who will be only the seventh president in the history of the bank, which was foun ded in 1854. Mr. Bastian has been serving as president and chief executive officer of Republic Bank and Trust Com pany of Tulsa, Okla. Before moving to Republic, he served as vice presi dent and manager of metropolitan lending at the Bank of Oklahoma in Tulsa. He started his banking career in 1966 in Philadelphia. Also at the bank Robert D. Eversman was appointed vice president and investment officer. He had pre viously been serving as vice pres ident and investment officer of the Central National Bank, Sterling. Mr. Eversman has 25 years of trust and investment experience in cluding senior level management po sitions with the Affiliated Bank of Madison and the Iowa Des Moines National Bank. Six Promotions Announced At National Boulevard Bank Six promotions were announced at National Boulevard Bank of Chi cago. James Cannon was promoted to assistant vice-president, small busi ness group manager. Donald L. Hunt, president and chief executive officer of First Na tional Bank of Marissa, has been elected to the board of directors of the Federal Reserve Bank of St. Louis, effective January 1, 1983. Mr. Hunt, who was elected to a se cond term as a director of the St. Louis Bank, is a member of the Council of the American Bankers Association. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Shareholders of the First Na tional Bank of Morton Grove recent ly approved the sale of the bank to Mid-Citco Incorporated. The acquisition of the bank in volves cash payment to sharehold ers of $41.50 per share for 150,000 shares outstanding, a total of $6,225,000. The acquisition has been approved by regulatory agencies. CHICAGO NEWS J.T. CANNON L.J. SCHMIDT Elected to Board Morton Grove Sale Announced M.W. JAMIESON J. THOMSON Michael Jamieson and Carol Shiplett became assistant cashiers and Bruce Heniken was made an assis tant trust officer. Larry Schmidt became an assis tant vice-president and Jennifer Thomson was made a bond officer. Acquisition Approved Don E. Cousins, president of The Central National Bank of Sterling, has received word that the Federal Reserve Bank of Chicago has ap- Coleman S. Hutchins has been ap pointed a vice president and trust of ficer of The Mid-City National Bank, according to Donald W. Bruechert, vice president and trust department manager. Mr. Hutchins served as trust officer for a De catur bank for six years fo l lo w in g sev en years of legal practice with a C h ic a g o law firm. C.S. HUTCHINS Mr. Bruechert said the appointment represents an expansion of the Mid-City’s trust department because of the growing need for personalized trust services. * * * To keep up with changing times, the National Boulevard Bank is go ing through a renovation and a re vised corporate identification pro gram, changing its name and logo to Boulevard Bank. Both North and South Towers will be redesigned, beginning first with the South Tower, which will headquarter all personal banking and teller operations, while the North Tower will house executive banking and forward financial plan ning services. The project is ex pected to be completed in the spring, 1983. Northwestern Banker, December, 1982 First Bank Minneapolis Correspondent Banking Department https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 27 r "N Minnesota Austin Bank Appoints Two J.P. Ingebrand, pres., Mora T. L. Jeffers, exec. v. p . , Minneapolis Worthington V.P. Named Terry O’Toole has been named to the position of senior vice president at th e S ta te Bank of W or t h in g t o n . He joins the bank from the First N orth w estern National Bank of W in o n a , where he was a ssista n t vice president. T. O’TOOLE Mr. O ’Toole began his bankingcareer in 1972 with the Northwestern National Bank of St. Paul. In 1978 he joined Northwestern Bancorporation in the credit administration department. He left there in 1979 to accept the position in Winona. Medford and Owatonna Banks Merger Agreement Announced James W. Freeburg, chairman of First State Bank of Medford, with deposits of $4.8 million, and Ken neth E. Wilcox, president and chief executive officer of Northwestern National Bank of Owatonna, with deposits of $72 million, have jointly announced that a merger of and ac quisition by Northwestern Bank has been agreed upon in principle, sub ject to approval by shareholders and banking regulatory authorities. “ The Medford facility will be op erated as a branch of the Northwest ern Bank,’ ’ Mr. Wilcox said. “ There fore increasing the lending unit for Medford from approximately $55,000 to in excess of $600,000, and adding a variety of other products and ser vices. Northwestern National Bank of Owatonna is affiliated with Northwest Bancorporation. Two Promotions Told James Rogalla has been promoted to assistant vice president in charge of commercial loans, and Richard Kennedy has been promoted to in https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis of the Freeborn County Bankers Association. stalment loan department manager at First Northwestern State Bank, Thief River Falls. Mr. Rogalla has been with the bank since 1975, most recently serv ing as instalment loan manager. Mr. Kennedy has been with the bank since 1979 as an instalment loan of ficer. Lauren A. Meade and Rod L. Meyer have been appointed assis tant vice presidents of Northwestern State Bank of Austin, according to Robert L. Bue, president. Ms. Meade was employed by the Wells Fargo Bank in Newport Beach, Calif., before joining the Austin bank in 1981 as a real estate loan officer. Mr. Meyer joined the bank staff in 1980 and is involved in agricul tural lending. In his new position he will handle additional respon sibilities in the commercial loan area. Albert Lea Banker Dies Fergus Falls Elects One Alger J. “ A l” Knutson, longtime Albert Lea banker, died recently at Naeve Hospital at the age of 66. Mr. Knutson began a long career in banking when he became cashier at the Security State Bank in Albert Lea. He joined the Marquette Na tional Bank in Minneapolis in 1954 as a loan officer and in 1960 became president of the Twin Lakes State Bank. In 1963 he was made presi dent of the First National Bank of Alden and he retired from the bank ing business in 1977. He was active in banking associa tion affairs, serving as district representative to the Minnesota Bankers Association and president Northwestern National Bank of Fergus Falls recently announced the election of Don na Piekarski to customer service officer. Ms. Piekarski joined the staff in 1963 and has served in vari ous capacities in cluding custom er service superD PIEKARSKI visor. She has also held positions at Fargo Na tional Bank, Fargo, and Grafton Na tional Bank, Grafton, both in North Dakota. Hibbing Bank Grand Opening Held MERCHANTS and Miners State Bank, Hibbing, recently held a grand opening in honor of the completion of its $1 million remodeling and expansion project. The project began in 1979 with the purchase of the State Theater, with preliminary construction work beginning last fall. The remodeling and expansion, which doubled the size of the bank and included a new, modern exterior, marks the bank’s 61st year in the same location. The grand opening featured drawings, refreshments, tours and displays. To add to the celebration, the bank announced it was offering $1 million in below market rate loans for new cars, appliances and home improvements. Northwestern Banker, December, 1982 28 Twin Cities First Bank Minneapolis recently announced the promotion of 15 em ployees. Promoted to vice presidents were: James L. Anderson, corporate trust division, and Gary D. Martell, bond department. Named assistant vice presidents were: Rolland E. Glessing, midwest corporate banking II division; George E. Ruth, professional bank ing division, and Robert A. Engebretsen, trust tax division. Elected to officer status were: Dennis L. Pederson, trust; William A. Guilford and Peter J. Thompson, international banking; David M. Thompson, commercial banking; Kathleen N. Ames, personal bank- ing; Michael B. Wichterman, trust operations; Janice R. King and Russell W. Swansen, investment; Everil E. Niebuhr, security, and Timothy J. Danielson, marketing. * * * * Northwest Bancorporation has appointed John P. Sampson vice J.P. SAMPSON J.L. ANDERSON G.D. MARTELL R.E. GLESSING G.E. RUTH R.A. ENGEBRETSEN D.L. PEDERSON Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tive. In 1981 he transferred to the corporate office as a government relations officer and is responsible for coordin atin g the corp o ra tio n ’ s federal government relations pro grams. R.S. STRICKLAND * * # The Federal Reserve Bank of Min neapolis has announced the addition of five account managers in their marketing department. They are ft Robin S. Bruhjell, Richard L. Kuxhausen, John C. Ladner, Barbara J. Pfeffer and Robert C. Schutte. Mr. Bruhjell was previously direc tor of sales/marketing at Shaw Walker Company. Prior to joining the Fed, Mr. Kuxhausen was vice president at IntraMark Inc., a bank marketing consulting company. Mr. Ladner came to the Fed after seven Hi years with Bank Building Corpora tion of America as a consulting ser vices manager covering Minnesota, North Dakota and South Dakota. Ms. Pffeffer joined the Minneapolis Fed in 1979 as an assistant exam iner in the bank examination depart ment. Mr. Schutte has previous mar keting and sales training experience in the agribusiness and communica- • tions industries. * * * president, corporate development, a new position. He had been vice presi dent in the corporation’s banking business group, responsible for 12 banks in central and southern Min nesota. Mr. Sampson, who has been with Banco since 1975, will be responsi ble for management of acquisition, merger, new business ventures and divestiture programs. Robert S. Strickland has been pro moted to vice president, assistant treasurer. He has been with Banco since November, 1979, previously as Northwestern National Bank o f ( assistant treasurer. Minneapolis has moved its corre Promoted to assistant vice presi spondent banking department to the dent status were Mark R. Conrad, 12th floor of the Cargill Building. Steve H. Keefe and Richard J. Lov The address and telephone numbers ett in the corporation’s government for the department will remain the, relations division. same. Mr. Conrad is responsible for co * * * ordination of government relations programs for Wisconsin, Iowa, William B. Naryka has joined North and South Dakota, Montana, and Nebraska. Mr. Keefe has re Bremer Service Company, Inc. as sponsibility for the corporation’s vice president/controller. Mr. Naryka began his career at government relations activities in Minnesota. Both men joined Banco the public accounting firm of Ernst in 1981. Mr. Lovet joined North & Whinney. Prior to joining Bremer, western National Bank in Minneap he was a vice president with First olis in 1978 as a trust representa- Bank System. Perhaps it’s happened to you. Just when you had built up a working relationship with your correspondent banker, the bank moved him up the corporate ladder and off your business. All too often, a large bank can be insensitive to the needs of small respondent banks. Yet smaller banks that can give you plenty of personal attention can’t always give you the expertise and the clout you need. And you’re caught in the middle. You do, however, have an alternative: Midland National Bank. We’re big enough to handle any of your correspondent banking needs. But we’re still small enough to respond to your individual concerns. We’ve deliberately kept our Correspondent Division small, so that you can deal Midland National BANKOf Minneapolis M a in B a n k -4 0 1 2 n d A ve . S . G o v ’t C e n te r O ff ic e -3 rd A ve . S . at 6 th S t. S t. L o u is P a rk B ra n c h -3 6 0 1 P a rk C e n te r B lv d . Member Federal Deposit Insurance Corporation directly with a decision maker. Each of our correspondent bankers has from 12 to 25 years of experience in the business, so they thoroughly understand the needs of respondent banks. They take the time to personally call on both the respondent bank and the respondent’s customers. If you’re tired of banks that are too large or too small, come to Midland Bank. You’ll develop a close working relationship with one of our correspondent bankers. Not one after another. We’re big enough to know how and sm all enough to know you. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 30 Minnesota News AST MONTH the 17 First Banks in the Twin Cities metropolitan area introduced an integrated bank ing and investment service called the First Rate Investors Account. The new product consists of a high yield (money market rate) checking plan that is linked to a discount brokerage service. It differs from other existing high yield checking plans in that there is no minimum balance or limitation on number or size of transactions. A customer’s cash will be in vested in a First Rate Fund com monly known as a “ repo” — an agreement to repurchase an interest in a U.S. Government or security or U.S. Government Agency security. Since the fund is not a deposit, it is not FDIC-insured, but is backed by the assets of the issuing First Bank and the value of the security. When a check is written on the account, the exact amount needed to cover the check is automatically trans ferred from the First Rate Fund. Then the checking balance remains at zero and the “ repo” balance con tinues to earn money-market rates. “ This account will provide check ing, a retail repurchase agreement and discount brokerage services in one package,” explained First Bank System vice chairman D.H. Ankeny, Jr. “ It is not for everyone, but rather is designed for the active selfdirected investor — the person who makes eight or more trades annual ly. It offers convenience, total li quidity and money market yields as well as savings on usual stock broker commissions.” The discount brokerage feature of the account is provided through an agreement with Fidelity Brokerage Services, Inc. of Boston, the second largest discount brokerage firm in the country. First Bank customers will be able to place orders for stocks, bonds, treasury securities and options at reduced commission rates by calling an 800 phone number. Fidelity, which provides discount brokerage services to customers of a number of banks throughout the na tion, will also permit First Bank customers who sign up for the new account to buy and sell short and to trade on margin. Separate monthly statements, for banking and securities activity, will be provided to First Rate Investors Account customers. There are no checking transaction charges. Cus Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tomers will be charged a flat fee of $20 per month for the account. A d ditionally, commissions for security transactions will be charged at dis count rates by Fidelity Brokerage. “ We think the unique combination of features makes this account very attractive to active, knowledgeable investors,” Mr. Ankeny said. “ Addi tionally, we think it’s evidence of our ability to develop and deliver customer banking services that will enable the First Banks to remain a strong competitor in the changing financial services marketplace.” * * * At Northwestern National Bank of South St. Paul Harold G. Steffen was promoted from vice president, administration and human resour ces, to senior vice president; David B. Butterwick was promoted to as sistant vice president and manager of the Robert Street office, and Margaret M. Relier and Jeffrey R. Wentzel were named personal bank ing officers. announced the promotion of Thomas J. Rybak to commercial loan officer. Prior to joining Western State Bank in May of 1981, Mr. Rybak served as an installment lender at First Bank White Bear. * * * John H. Mason has been named executive vice president of Mar q u e tte L ease Services, Inc., the equipment leasing and fi nancing subsid iary o f Bank Shares, Inc. Before joining Marquette Lease S erv ices, Mr. Mason was sen ior vice presiJ H' MAS0N dent of Gelco Municipal Services of Eden Prairie. He also served as vice president of Gelco Equipment Leas ing Company. * * * First Bank Minneapolis and it wholly owned subsidiary First Bank £ International, in affiliation with Walter E. Heller & Co., are launch ing a new service called The Short Term Export Finance Program which enables open account terms of sale, provides total payment guarantees against credit and political risk and H.G. STEFFEN D.B. BUTTERWICK provides for the financing of export receivables. Included in the charge of 2 to 3 percent of invoice amount are the costs of credit reviews, receivables processing, collection, credit guar antees and weekly status reports. The service may also include receiv able financing at a rate of interest equal to or less than the exporter’s normal borrowing rate. M.M. RELLER J.R. WENTZEL The program is designed to allev Mr. Steffen joined the bank in iate the administration, risk and ex 1950 in the operations area and held pense incurrred in the normal pay several positions before being named ment terms that small and medium vice president in 1970. Mr. Butter size exporters have been able to of wick joined the bank in 1980. Prior fer their distributors and repeat to joining Northwestern he was with customers. Northwestern Bank of Sioux Falls, “ This program fills a gap in the South Dakota. export finance services previously Ms. Relier joined the bank in 1970 available to industrial, component and was most recently promoted to and high technology companies,” supervisor in personal banking in said H. William Anderson, senior June, 1982. Mr. Wentzel has worked vice president in charge of interna as a teller, management trainee and tional banking. “ W e’re joining the as a collections specialist. capabilities of more than 30 offices * * * throughout the world with the capa A. William Sands, president of city of First Bank Minneapolis. * * * Western State Bank of St. Paul, has ■ 1 -•■/**> I If C.€S|fcllf : Á Hi ACQUISITION FINANCING: It’s m ore than just writing a check. Financing an acquisition or management buy out is far from routine. It takes a dedicated team of asset-based H lending specialists who deal with this often complex form of transaction on a dayto-day basis. It takes Associates Commercial Corporation's Acquisition Financing Team. Backed by over S6 billion in resources, The Associates has devised, developed and participated in numerous acquisitions, mergers and management buy-outs all across the country. And we will work in cooperation with banks, insurance companies and other lending institutions. As a leading source of money for business for over sixty years, The Associates is in a unique position to provide funds through a variety of asset-based lending programs. To learn more of the role The Associates can play in your customers’ future pians, contact the regional office near you. An officer will be happy to discuss asset-based lending with you. Or, send for our booklet discussing asset-based acquisition financing. A ss o cia tes C o m m ercial C o rp oratio n B u sin ess Loans 20 N. Clark Street Chicago, IL 30602 (312) 781-5827 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Get to know The Associates...People Worth Knowing! Business Loans Offices in Atlanta, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Los Angeles, Miami, Nashville, New York, Philadelphia, St. Louis and Tampa. Associates Commercial Corporation is a subsidiary of Associates Corporation of North America, a Gulf + Western Company. 32 Minnesota News American National Bank, St. Paul, recently announced the promo tion of Thomas A. Tustison and Yvonne A. Schultz to assistant vice president; James E. Terrell to con sumer banking officer and Mary E. Pachi to operations officer. T.A. TUSTISON Y.A. SCHULTZ Mr. Tustison, who joined Amer ican in 1981, will be in charge of employee benefits administration. Ms. Schultz joined in 1977 and is in charge of teller services manage ment. Mr. Terrell started with the bank in 1981 in the consumer division. Ms. Pachi started in 1980 in the operations division. * * * First Bank Minnehaha, Minneap olis, has announced the promotion of Elaine M. Matt son to real estate officer and man ager of the real estate d ep a rt m en t o f the bank. Ms. Mattson began her career with the bank in 1977 as a loan consultant in the E M‘ MATTS0N real estate department. Previously she was with Edina Realty of Edina and Chicago Title Insurance Com pany of Edina. * * * Northwestern National Bank of Minneapolis has announced the elec tion of five vice presidents, nine as sistant vice presidents and 18 other officers. Elected to vice president status were: Kevin B. McGuire, consumer branch banking group; John K. Lukaska and Robert R. Corrick, domes tic banking group, and William E. Geise and James L. Swift, trust and investment group. Mr. McGuire, who was elected in the professional banking divison, joined Northwestern in 1980. Mr. Lukaska, manufacturing and elec Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tronics, joined in September. Mr. Corrick of corporate finance, joined in 1980. Mr. Giese joined in Septem ber and is in the fixed income pro ducts division. Mr. Swift, trust tax division, has been with Northwest ern since 1970. Elected assistant vice presidents were: Ronald Whitcomb, Olson Highway and Seventh branch in branch administration; Robert L. Rasmussen, Ridgedale branch in branch administration; Craig R. Dahl and Kevin B. Erdman, manu facturing and electronics; Barry A. Kelner, individual services depart ment; John D. Hibbard, estate and probate; Robert D. Edgar, Jr., in stitutional marketing, and Susan D. Kinder and Sheryl L. Grams, human resources. Named to officer status in the following areas were: Cheryl L. Skildum, card services; Laura A. Tokash, consumer loan; Edna J. In nés, commercial banking; William J. Cole, Halina L. Aleksuk, Steven B. Welch, Joanne M. Dorweiler and Karen J. Miller, operations; Brian D. Johnson and Robert A. Amundson, systems; Elizabeth F. Kerner, trust investment; Sarah P. Eldridge, cor porate trust investment; Joyce G. Merchant, tax; Annmuree M. Berg, trust; Gregory A. Stauffer, invest ment services; Phyllis D. Amberson, advertising; and Michaeleen Cole man and William S. Raynolds, inter national banking. * * * Northwestern National Bank of St. Paul has announced the follow ing promotions; John Geiken, vice president, cash ier and manager of the operations d iv is io n , w ill now also assume the managerial responsibilities in the consumer banking group. He has been with the bank J. GEIKEN since 1978 and J.R. CAMPBELL T.W. LONGLET with Banco since 1964. <0 Jon R. Campbell, vice president and manager of the special technol ogies division of the commercial banking group, has been named manager of the metropolitan co m -# mercial banking division. He joined in 1979 from the U.S. National Bank of Omaha. Thomas W. Longlet, vice presi dent, has been named manager o f # the special technologies division of the commercial banking group. He joined Northwestern in 1973. * * * # Ernie Pierson, president, Midland Bank, recently announced the ad vancement of Joe Garthofner to vice president-human resources; Lynne H. Hansen to vice president and • trust officer; Steven A. Fields to assistant vice president and trust of ficer, and James W. Koch to assis tant vice president and trust mar keting officer. # S.A. FIELDS J.W. KOCH Mr. Garthofner joined in 1978 as an assistant vice president and per sonnel officer. Ms. Hansen joined as a trust administrator in 1978. Mr. Fields started with Midland in March of this year as pension and profit sharing adminstrator. Mr. Koch also started in March of this year as a business development re presentative. * * * Bank Shares, Inc. has announced the formation of Marquette Lease Services, Inc. According to Carl R. Pohlad, Bank Shares president, the new subsidiary will position the af filiate banks and their correspon- 33 • ^ Our sincere wishes for a happy holiday season and a prosperous New Year. AF&MMarpuetteNationalBank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 Ybu can't afford to do without * Cash Management Services . In today's h ig h ly com petitive m arketplace. Gash M anagem ent Services aren't a luxury. They're a necessity. If you're looking to improve productivity and increase profits, look to First Bank Saint Paul. We can provide you with a wide range of sophisticated Cash Management Services— like FirstLink, Audio Balance Reporting, Account Reconciliation, and End Point Analysis, to name only a few. Linkup with FirstLink through a dial-up terminal located in your office. In seconds, you'll learn everything from previous day account balances, debits and credits, one- and two-day float breakdowns, and current rates. Lend an ear to our Audio Balance reporting service. All it takes is a toll-free phone call to rapidly obtain balance information on any of your accounts. Day or night, around the clock. Get friendly with our Account Reconciliation service and you'll save valuable time for your high-volume accounts. It not only sorts checks in numerical order but also reports on the dollar amount and date of all checks paid. Better your bottom line with our End Point Analysis. Find out how guickly your checks are clearing. And be assured that we're continually working on our availability schedule. These are only four of First Bank Saint Paul's Cash Management services. Any one— or all— can help you to operate more efficiently. And, just as important, they can benefit your commercial customers, too. Because when you utilize our services, you can offer them in turn to the businesses you serve. To find out more about how we can help you, call (612) 291-6108 today. First Bank Saint Paul Member First Bank System Cash Management 332 Minnesota Street Saint Paul, Minnesota 55101 https://fraser.stlouisfed.org Northwestern Banker, December, 1982 Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 36 Minnesota News dent banks to better serve the equip ment leasing and financing needs of their corporate, professional and municipal customers. J. Michael Maxwell has been named president of the new sub sidiary. He joined F&M Marquette National Bank, the holding com pany’s lead bank, in July where he has been directing the bank’s equip ment leasing and financing services. Before joining Bank Shares and F&M Marquette National Bank, Mr. Maxwell was president of First Northwestern Financial. He also served as president of Gelco Equip ment Leasing Company and as sen ior vice president of Citizens Fideli ty Bank and Trust Company, Louis ville, Ky. Marquette Lease Services will of fer lease financing programs to banks throughout the Upper Mid west. * * * American National Bank and Trust Company of St. Paul has been selected by the Independent Bank ers Association of America to act as Trustee for the IB A A Prototype Pension and Profit Sharing Plans. The program was specifically de signed for IB A A member banks in response to a need for competitive employee benefits. The prototype plan concept was used to minimize the effort and expense of implemen tation by individual banks. Sub scribing banks will have flexibility in determining specifics of their pro gram such as eligible compensation, vesting and type of investments. Additional information about the IB A A Prototype Pension and Profit Sharing Plans can be obtained by contacting Patrick M. Flynn, assis tant vice president, American Na tional Bank and Trust Company, 370 Minnesota Street, St. Paul, Minn. 55101, or calling (612) 298-6130. joined the bank in 1977 and was ap pointed vice president in 1979. Newport/Woodbury V.P. Named Town & Country Bank, Newport and Woodbury, has announced the election of Robert C. Anderson as vice president and senior loan officer. Mr. Anderson will be responsi ble for all of the lending a ctivi ties in the bank and will be in volved in the banks m arket ing, compliance and a sse t/lia bility manage R.C. ANDERSON ment areas. He recently joined the bank and was formerly associated with the First Northwestern State Bank, Thief Riv er Falls, where he was vice president in charge of commercial lending. Former Brainerd Banker Purchases Florida Bank Everett Henrickson, formerly ex ecutive vice president of Citizens State Bank, Brainerd, recently pur chased Farmer’s Bank of Malone, Fla. Mr. Henrickson and his brother, Phillip, recently purchased the $8 million bank in the northern Florida community of 800. Malone is an ag ricultural community with the main products being peanuts, soybeans, wheat, corn and cattle. The Henrick- sons began their banking careers in • the mid-50s and have a combined 53 years of banking experience. Belle Plaine Celebrates 100th Anniversary of Bank The State Bank of Belle Plaine recently celebrated its 100th anni versary with a three-day Centennial Celebration that included refresh- q ments, outdoor lunch, live music, displays, drawings and gifts. The bank originated in 1882 as the Bank of Belle Plaine, with assets of $50,000. The State Bank of Belle £ Plaine evolved from the Bank of Belle Plaine in 1894 when it official ly was organized and chartered under Minnesota laws. The Farmers State Bank of Blakeley merged with the £ State Bank in 1932 and the First Na tional Bank of Belle Plaine merged with it in 1935. The consolidated bank maintained its location on Me ridian Street until 1964, when it con- £ structed a new facility in its present location at 201 West Main Street. The bank now has assets over $31,000,000. Elected in Maplewood Jan Anderson was recently elected assistant vice president of the operations division of Maplewood State Bank, Maplewood, according to G. Jack Hillstrom, presi dent. Ms. Anderson joined the bank in 1981 and has worked in various areas. Castle Rock North Facility Opens Three Elected to Board C.A. Opheim, Richard J. Tiedeman and D. Nevin Campbell have been elected to the board of direc tors of the First National Bank of Walker, announced C.J. Elsenpeter, chairman. Mr. Opheim joined the bank in 1962 and was appointed to senior vice president in 1979. Mr. Tiedeman has been with the bank since 1977, being appointed vice president and cashier in 1979. Mr. Campbell Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FIRST State Bank of Castle Rock recently held a grand opening at its new detached facility known as the north facility. Offering full banking services, the facility was added for the convenience of customers to the north of Castle Rock, according to Dan Nicolai, president. The building features two drive-up windows, a night depository and three teller stations. Passive solar panels feed into the brick building’s furnace, helping conserve energy. • A ^ _ w Minnesota News • Don Johnson Retires BANKING career of more than 26 years will be concluded by Donald H. Johnson on December 31, 1982, when he retires as a vice presi dent in the correspondent bank de partment of the American National Bank, St. Paul. He has devoted 23 of those years at A m erican N a tional to work ing with com m unity banks throughout the N inth Federal R e s e r v e D is trict. Mr. Johnson’s p r in c ip a l t e r D.H. JOHNSON ritory he served stretched from the Twin Cities to the Canadian border in Minnesota and all of North Dakota. At various times he has also spent time with correspondent banks in Wisconsin, South Dakota and Montana, giving him a broad base of friendships with hundreds of bankers in the five-state area. A native of St. Paul, Mr. Johnson attended schools there and spent his entire business life in the city. He entered the United States Army Air Corps prior to World War II and served with that branch throughout the war, later continuing with the United States Air Force until his re tirement as Lieutenant Colonel after seven years of duty. He was in the retailing business before joining American National Bank July 9, 1956. He became a member of the Amer ican Institute of Banking, progress ing through various AIB classes, and later also was graduated from the Minnesota School of Banking and the Midwest Banking Institute. Like many other Twin Cities cor respondent bankers who began their travels before the advent of today’s convenient airline, hotel and high way service, Mr. Johnson experi enced all the “ com forts” of travel in his earlier days. “ I can recall lots of gravel roads on which we drove without air-conditioned cars,” Mr. Johnson says. “ That was before the interstates were constructed. Also, we didn’t have the Holiday Inns and Ramadas you find today; in fact, most of the motels and hotels weren’t air-conditioned, and usually had small gas or oil heaters in the rooms instead of central steam heat A # • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis as they do today. “ Although we didn’t have air ser vice to most towns in the Ninth Dis trict, we did have excellent train ser vice. The banks were not air-condi tioned and there were no drive-in banks, no ATMs, no computers. So far as bank services, it was typical for any bank to pay 1% on pass-book savings, to have one type of check ing account and to charge exchange on checks. Most banks just did not offer CDs like they do today. An other big difference is that 25 years ago almost all the banks we called on were closed between noon and 1:00 p.m .!” Mr. Johnson and his wife, Joanna, plan to continue making their home in St. Paul. □ P.J. LUND 37 K. RAJALINGAM Credit Corporation for seven years. Mr. Lund joined the bank in 1980 as collection manager and was also con sumer loan interviewer prior to his appointment at the Burnsville of fice. Mr. Raja joined the staff in 1973, moving to the trust depart ment in 1976. In 1980 he was pro moted to trust account officer. Three Named in Richfield Jeff Edwardson has recently joined Richfield Bank & Trust Co. as com mercial loan officer; Peter J. Lund has been appointed assistant man ager of the bank’s Burnsville office, and K. “ Raja” Rajalingam has been appointed assistant vice president and investment officer of the b a n k ’ s n ew ly formed invest ment m anage m en t d e p a r t ment. Mr. Edward son was p re v io u s ly em ployed by Gen J. EDWARDSON era l E le c t r ic Acquisition Approved The Federal Reserve Bank of Min neapolis has approved the applica tion by Eitzen Independents, Inc., Eitzen, to acquire the Eitzen State Bank, and Carver County Bancshares, Inc., Chaska, to acquire the Carver County State Bank. Maplewood Director Appointed Kimberly A. Ebert was recently appointed director of marketing and advertising by the board of Maple wood State Bank. In May she graduated from the college of St. Benedict with a BA in liberal studies and a concentration in business and psychology. Open House Held at M adelia Bank OPEN house was held last month at the Citizens Natl. Bk. of Madelia, climaxing the completion of a 2,200 sq. ft. addition and major renovation of the old building. The bank project included the razing of a 3-story hotel and department store on a 75' x 160' lot adjacent to the bank. The new facility includes 2 remote drive-in units, ATM, message center, video security system, and room for future customer services. Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 40 Minnesota News LEFT— INDEPENDENT Bankers of Minnesota Officers of 1982-83 include: 1st V.P. Larry Lindeberg, pres. Forest Lake St. Bk.; IBM Exec. Dir. Norb McCrady; IBAA Exec. Dir. Ken Guenther, and Pres. Lowell Wakefield, pres., 1st Natl. Bk., Wayzata. RIGHT—Jo and Don Johnson, v.p., Amerian Natl., St. Paul; Phylis and Ray Kirkhorn, pres., Security St. Bk. of Aitkin, and Lori and Bob Jacobson, v.p., American Natl. St. Paul. Independent Bankers of M innesota M eet for Fall Conference signing of the Garn Bill represents a significant setback and loss to the independent bankers in the country. HE Independent Bankers of Min He explained that had the multi-in nesota met in Minneapolis No dustry coalition opposing the legis vember 17-18 for their annual Fall lation not collapsed, the bill would Conference. IBM President Lowell never have passed. Moreover, he Wakefield, president of the First Na contends that the bill would never tional Bank in Wayzata, welcomed have passed had the American nearly 200 registered bankers to the Bankers Association maintained conference. their position of opposition. The meetings opened with the The expanded powers given to the keynote address delivered by Ken thrifts in the new law will require Guenther, executive director of the bankers to make an immediate Independent Bankers Association of adjustment he warned. “ These new America. Mr. Guenther was quick to full service bank-like institutions, turn his attention to the administra with established branch networks, tion of President Reagan which he will immediately be competing for views as being anti-independent the commercial and agricultural banking as well as anti-small bus loans in your communities.” iness in general. To support this con The rules governing the new mon tention he made specific reference to ey market deposit account man the Garn Bill, the withholding at dated by the Garn Bill also met the source requirements and the total criticism of the IB A A head. The restructuring of the financial ser IB A A favored the $5,000 minimum vices industry which he feels will balance supported by Fed Chairman result in fewer independent banks. Volcker. Also the IB A A feels that Mr. Guenther reported that the the December 14 initiation date is By STEVE BURCH Associate Publisher T too soon. With $1.6 trillion deposit available for this new account, Mr. Guenther does not feel that the DIDC time frame is prudent and argues that the bankers need more time to consider the effects that the new instrument will have on the cost of deposits. The afternoon session consisted of four concurrent workshops which focused on estate planning, person nel management, ag commodities fu tures, and secured transactions/ bankruptcy. Following the work shops, Federated Cash Management Systems hosted the bankers to cock tail reception which preceeded the evening banquet and dance. Gary Stern, senior vice president, Minneapolis Federal Reserve Bank, was another featured speaker at the Independent Bankers Fall Confer ence. In his “ 1983 Economic Out look,” he stated that the funda mental preconditions for an eco nomic recovery are falling into place. Given these preconditions and thrusts of economic policies, 1983 would see an improvement in eco nomic conditions. “ 1983 has a chance for being the best year for the economy since 1978.” LEFT—Bob Sipple, sr. v.p., and his wife Brownie join Kathy and Joe Kingman III. Mr. Kingman is the new president of American Natl., St. Paul. RIGHT— Marilyn and Bob Buscher, c.e.o., American St. Bk., Mankato; Jacki Schuler, sec./treas., INDEX, Mpls., and Dorothy and Milt Klohn, pres., INDEX. Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Minnesota News 41 LEFT— Larry Kraayenbrink, corr. bkg. off., F & M Marquette, Mpls.; Carol Pederson; Dick Holmes, a.v.p., F & M Marquette, Mpls., and Sally 0 and Paul Thompson, pres., Peoples St. Bk., Milan. RIGHT—Joe Brunner, v.p., American National Bk., St. Paul, conducts workshop on the DIDC instrument. He clarified that by stating that he isn’t saying 1983 is going to be a great year, but it will represent an ® improvement over the conditions of the economy seen from 1979 through 1982. The essential preconditions Mr. Stern sees falling into place are 1) very substantial progress made in slowing inflation down in the last several years, and 2) the precondi tion more recently moving in the First National, Duluth Sponsors “ Minnesota M ile.” First National Bank of Duluth recently helped bring former world mile record holder and silver med alist in the 1968 Olympics Jim Ryun to Duluth to visit with the bank’s customers and to host the “ Min nesota Mile,” which the bank co sponsored with Perkins Cake and Steak. The bank’s front entry served as the finish line for the five one-mile races that were held along Duluth’s downtown Superior Street. The fol lowing day Jim Ryun talked run ning and signed autographs for a large crowd. First National’s race sponsorship was organized and arranged by Lance Green, vice president-mar keting, and Claude A. Lutzka, vice president. Winners of the Minnesota Mile were: in the men’s class, Don Hurley of St. Paul, and in the wom en’s class, Jan Ettle of St. Cloud. Safe Deposit Company Opens in Minnesota Commissioner of Banks Michael J. Pint has announced the approval of a license for the Safety Deposit Center, Inc., to operate a safe depos it company in Robbinsdale. Mr. Pint said this is the second private safe https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis right direction, lower interest rates that are accompanying the success in slowing inflation. “ Those are essential precondtions because first,” he continued, “ we have learned that inflation and economic prosperity are in funda mental conflict in this country, which implies if you want to restore prosperity you have to get inflation down and keep it down. Second it would appear that the recovery that I expect has to be led by consumer spending and that will require lower interest rates so that big ticket items can be more comfortably fi nanced.” “ It is only recently that rates on instalment credit and mortgages have begun to decline in any mean ingful way,” Mr. Stern commented. “ That decline, if extended, should be positive both for consumer psychol ogy and consumer spending. ’ ’ □ deposit company to open in Min nesota that is not affiliated with a financial institution. and Commercial Credit Plan, Inc., to expand their existing industrial loan company powers in five locations to include accepting time and savings deposits. These five approvals to ex pand are the first such approvals since 1954 and since the Industrial Loan and Thrift Act was recodified in 1981 by the State Legislature. FinanceAmerica Plan, Inc., a wholly owned subsidiary of Finance America Corporation and BankAmerica Corporation, received ap proval for deposit authority at three locations: 927 Marquette Avenue, Minneapolis; 212 Bremer Building, St. Paul, and 5180 Central Avenue N.E., Columbia Heights. Also ap proved were two applications by Commercial Credit Plan, Inc., a wholly owned subsidiary of Com mercial Credit Company and Con trol Data Corporation, to accept deposits at 24 West Sixth Street, St. Paul, and 4007 West Old Shakopee Road, Bloomington. FinanceAmerica Plan, Inc., is the seventh largest of 31 industrial loan companies in Minnesota with assets of $10.7 million and capital of $2.78 million. Commercial Credit Plan, Inc., is the sixth largest with assets of $14.3 million and capital of $4.47 million. Both companies specialize in consumer loans, including second mortgage real estate loans. Buhl Cashier Retires An open house was held recently for Helen Hendrickson, cashier of the First National Bank of Buhl, upon her retirement from the bank after 17 years. Mrs. Hendrickson was hired in 1965 in the insurance agency and in 1973 started as a teller at the bank. She was promoted to cashier two years ago after serving as assistant cashier and bookkeeper. Red Wing Officer Named Allen M. Schwab has been elected personal banking officer at First Northwestern Bank of Red Wing, with primary responsibilities in the instalment loan and customer ser vice departments. Mr. Schwab joined the bank in 1981 after graduating with a BS in finance from St. Cloud State Univer sity. Powers Expanded for Two Industrial Loan Companies Chairman of the Commerce Com mission Michael J. Pint recently an nounced the approval of applica tions by Finance America Plan, Inc., Northwestern Banker, December, 1982 42 through the acquisition Bryant State Bank. South Dakota D.O. Mehlhaff, pres., l-u ic m J. M. Schwartz, exec. m g r., Pierre Sioux Falls Election Told T.J. Reardon, president of West ern Bank, Sioux Falls, has announced the election of Donald R. Oliver as vice presi dent, mortgage/ retail banking. M r. O liv e r, who will have fu n ctio n a l re sponsibility for mortgage loans and retail bank ing, has 12 years of banking experience and will have his office located at Western Bank Downtown. Three Named in Sioux Falls United National Bank, Sioux Falls, has announced the addition of Ken Fish as vice president and Regional President C.P. “ Buck” Moore has announced that Gary G. Olson has been elected president and director of the First National Bank of Aber deen. Mr. Olson, branch manager of the Rapid City who previously branches. Also promoted were Jim was serving as Hallock to assistant vice president executive vice and assistant branch manager at the president/branch main office, and Tim Loftesness to administrator of N orth w estern auditor. Mr. Fish has served as president, National Bank G.G. OLSON owner and chairman of the board of of Sioux Falls, fills the position vacated by Allan the Drayton State Bank in Drayton, N.D., and as vice president and man M. Severson. Mr. Severson was elec ager of the United National Bank in ted president and director of North Brandon and the First Security western National Bank of Sioux Falls. Bank of Harlem, Mont. Mr. Olson began his career with Mr. Hallock joined the bank in 1980 and most recently served as Banco in 1963 at the Huron Branch assistant branch manager of the as ag representative. He moved to Rapid City branch. Mr. Loftesness the Madison branch in 1967 and re has been with the bank since 1978. turned to the Huron Branch in 1969. Mr. Olson then held the position of Acquisition Approved vice president and branch manager The Federal Reserve Bank of Min from 1976 until his appointment to neapolis has approved the applica vice president/branch administrator tion by Bryant Bancshares, Inc., to in 1980. He was named executive become a bank holding company vice president in 1981. cember 1. He succeeds Virgil Eckhoff, who has resigned. Mr. Larson previously was vice president and senior loan officer of First Bank East Grand Forks, where he has been associated since 1966. In 1969 he was promoted to assistant vice president and agri cultural representative and was elected to his most recent position as vice president in 1972. North Dakota J.M. McGinley, pres., W illiston H. J. Argue, exec. d ir . , Bism arck The First National Bank of Oakes recently announced the appoint ment of Mark Weide as assistant vice president, ag loan department. Mr. Weide has been associated with the Dacotah Bank Holding Co. of Aberdeen since 1975, when he joined Farmers and Merchants Bank and Trust Company of Aberdeen, S.D. In 1981 he joined the Citizens State Bank of Clark and in 1982 was promoted to manager of the bank’s branch office in Henry, S.D. Appointed in Fargo George W. Schwartz, president of Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis the I Aberdeen President Named r Oakes Appointment Told of First National Bank of Fargo, has announced the appointment of Jane Lundberg as commercial banking of ficer. Ms. Lundberg holds a BS degree in accounting from Moorhead State University and became a CPA in 1981. Previous to joining First Na tional in 1982, Ms. Lundberg was employed by Eide, Helmeke and Company of Fargo, where she was on the audit staff. Lidgerwood President Named The board of directors of First Bank Lidgerwood has elected Arvy J. Larson president, effective De Elected to Board H.H. “ Brud” Herberger has been elected to the board of directors of Community Na tional Bank of Grand Forks at its a n n u al meeting. Mr. H erber ger, president of the eight Herbergers, Inc. & B e tte r H a lf stores, is a 1965 graduate of the HH- HERBERGER University of North Dakota. 43 upon net income; however, the bank ers agree with the Department of Revenue that even though it is com ||i The board of directors of First puted on net income, it is in fact a Bank Great Falls has elected Robert franchise tax. L. Reiquam president and managing In 1978, the Montana Supreme officer, effective December 1. Mr. Court ruled that property taxes R eiq u am succould not be imposed on federal f ceeds John Reiobligations making an archaic tax chel, who was re on a bank’s capital ineffective. The cen tly elected managing direc tor of the West ern Montana Re gion o f F irst Bank System , Reiquam Elected President At First Bank Great Falls InC' 3- ■ - * Mr. Reiquam R L r e iq u a m has most recent ly served as president of First Bank Miles City. His successor will be an nounced at a later date. Mr. Reiquam began his banking career at First Bank Great Falls in 1965 and was elected an agricultural lending officer in 1966. In 1968 he joined First Bank Miles City, where he was elected vice president in 1971. He was elected president and managing officer in 1974. Montana Banks Support Corporation License Tax The Montana Bankers Associa tion filed an amicus curiae, friend of the court, brief with the Montana Supreme Court which places the bankers on the side of the Depart ment of Revenue in its attempt to have a recent Supreme Court ruling reheard. Erie Gross, president of M BA and the Little Horn State Bank in Hardin, said, “ The bankers believe this tax is fair and equitable and would like to see it continued as in the past.” Earlier in October, the Supreme Court ruled that two savings and loan associations, one in Missoula and one in Havre, were exempt from paying the Corporation License Tax on the interest income earned on federal obligations. The court ruled that the tax was, in substance, a tax https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis banks, however, voluntarily paid their bankshare taxes in 1978 for the benefit of cities and counties. Subse quently, the M BA worked with the 1979 Legislature to amend the Cor poration License Tax so that the same amount of tax revenues would go to cities and counties as in the past. Banks have paid this tax ever since without protest. Mr. Gross said, “ It is regrettable that the savings and loan associa tions are trying to avoid paying this tax since it is fair to banks and sav ings and loan association, and taxes both the same as all other busines ses in Montana.” Appointed in Great Falls John M. Seeberger has been ap pointed vice president/manager, commercial loan department, of First Interstate Rem odeling Aim ed At M axim um Energy Efficiency HE remodeling program under way at First Interstate Bank of Great Falls will provide maximum energy efficiency, more customer convenience and greater personnel efficiency in serving the financial needs of its customers, according to C.E. “ Chuck” Pedersen, president and chief executive officer of the bank. The entire remodeling project is planned to obtain the maximum in energy efficiency with complete modern designs and decor. The new front of the building on First A ve nue North will feature insulated sun screen windows of a bronze solar tint, glazed to reflect the sunlight. Increased insulation will be added to the north exterior wall and the heat ing and air conditioning systems are being revised for better perfor mance. A major change in the in terior of the building will be the new multi-level ceiling of an attractive T design, which will greatly reduce energy consumption. The entire interior of the bank will be remodeled extensively with most of the departments being relocated to better utilize floor space. An in novation will be the financial plan ning center, an area where custom ers will receive individual, person alized counseling with regard to in vestments and other personal bank ing needs. An area adjacent to the First A ve nue North entrance to the bank will provide a showcase for “ Rolling Thunder,” the bank’s life-size buf falo sculpture by artists Bob Olds and Joe Halco. R. Terry Johnson, Architects, de signed the reconstruction and Palmer-Duncan Construction Company is the general contractor. All sub-con tracts were awarded locally. Com pletion date is expected to be early soring:. Northwestern Banker, December, 1982 44 First Interstate Bank of Great Falls, according to C.E. Pedersen, president and chief executive officer. Mr. Seeberger came to Great Falls from Missoula, where he was an assistant vice president, commer cial loans, at First Bank Western Montana. Acquisition Approved The Federal Reserve Bank of Min neapolis has announced its approval of the application by Hub Financial Corporation, Helena, to become a bank holding company through the acquisition of the Valley Bank of Helena. Western Region Office Opens in Billings FBS Agricultural Credit Corpora tion, Minneapolis, the agricultural finance subsidiary of First Bank System, Inc., has opened an office in Billings. The new office, which will be known as the Western Region Of fice, will work with FBS affiliate banks and other banks in Montana, North Dakota and South Dakota to provide funds for short and inter mediate term loans for farm and ranch operating expense, and will en gage in direct lending outside of First Bank System subsidiary markets. r Wyoming n.A. nitcn, pres exec. dir. M. C. Mundell, Wyoming National Names New President HE BOARD of directors of the W yoming National Bank of Casper has announced the hiring of Robert Hays as president and chief operating officer of the bank. Robert W. Miracle, bank president who has been both chief executive and chief operating officer since 1968, was named vice chairman of the board and will remain as chief executive of ficer of the bank, and at the same time will continue to serve as presi dent and chief executive officer of the Affiliated Bank Corporation of Wyoming, the holding company with in which the Wyoming National Bank operates. At the same time, the bank holding company board re vealed that Robert Noel has been elected executive vice president of ABC. Mr. Hays’ election to the pres idency of the bank will become effec tive January 1, 1983. Mr. Noel has already assumed his duties. The three way move was dictated by the continuing expansion of the Affiliated Bank Corporation, stated Mr. Miracle, and, the board’s deci sion to strengthen management at every major post of its lead bank and the holding company. Mr. Miracle has held the top spot in the Wyoming National Bank for the past 15 years and has served as T Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rick J. Kuntz has been elected a vice president of FBS Agricul tural Credit Corp o r a tio n and manager of the Western Region Office. Mr. Kuntz began his bank ing career in Rj KUNTZ 1973 at First Bank Havre. He has held his most recent position as an assistant vice president in the correspondent bank department of First Bank Minneap olis since 1980. became effective in October, has sev en years experience with the Com ercial Bank of Mitchell, S.D., where he was in charge of operations and also served as commercial and agri cultural lending officer. Mr. Robson, whose appointment became effective in November, brings 18 years experience in various bank ing capacities to his current position at Wyoming National. His most re cent position was as executive vice president of a credit management position in Montana. president of the holding company since its inception in 1970. Mr. Hays has been president and Cheyenne Bank Appoints chief executive officer of the Rui New President and CEO doso State Bank, New Mexico, since Paul J. Jacques has been ap 1978. From 1974 to 1978 Mr. Hays pointed president and chief ex served as vice president and chief ecutive officer of First Wyoming commercial loan officer for the Cen Bank, N.A. - Cheyenne, according to tral State Bank of Hutchinson, Kan W. Robert Reiman, chairman. sas. Prior to that he was vice presi Mr. Jacques most recently served dent of the Bank of Jacomo, Blue as president and chief executive of Springs, Missouri. ficer of the First Wyoming Bank, Mr. Noel formerly was president N.A. - Laramie. He succeeds Robert and chief executive officer of the T. Noel, who left the organization to First Wyoming Bank-Cheyenne, and join another banking system. in addition to his title as executive A native of Massachusetts, Mr. vice president has been named to the Jacques entered the banking in bank’s holding company’s board dustry in 1967 as a vice president of and to its executive committee. Berkshire Bank. In 1980 he joined Also announced at Wyoming Na the First Wyoming Bancorporation tional Bank of Casper was the elec at its Laramie affiliate. tion of veteran bankers Mark Zaback, Jim Ahrendt and Kent Rob Casper Banker Named son to the position of assistant vice Volunteer of the Year president of the commercial loan department. Thomas A. “ Rusty” Ward, Jr., Mr. Zaback, who also serves in the has been awarded the Volunteer of correspondent bank department, The Year Award from the American brings nine years experience to his Heart Association of Wyoming at position, previously holding various its second annual delegate assembly positions in auditing, credit analysis held in Jackson. and correspondent lending with the Employed by Wyoming National First National Bank in Lincoln, Bank of Casper, Mr. Ward is trust Nebr. officer in charge of employee benefit Mr. Ahrendt, whose appointment plans. 45 “We’re notjust reacting to changes in banking-our computer seiv/ces are leading the way’’ Joe Phernetton, Senior Vice President, Computer Services Division, IntraWest Bank of Denver At IntraWest Bank of Denver, a vigorous new breed of experts sparks the largest financial systems development staff In the region. We’re bankers, not technocrats— bankers with an extraordinary degree of electronic expertise and experience. You get much more than high-speed computer systems to meet the challenges of a deregulated banking environment. Our systems feature basic principles of sound banking. Our services are comprehensive, flexible and understandable. In short, we help you stay ahead of the crowd. Consider two examples of that expertise at work: • Our Innovative educational program for your employees familiarizes them quickly with our complete line of computer service products. That in turn helps you maximize your profits and enables you to respond quickly and effectively to the needs of your customers. We can provide you with the advice, education, ongoing service and state-of-the-art technology you need to put yourself in a leadership position in your market. Call Joe Phernetton at IntraWest Bank of Denver, 303 293-5491. Whatever your com puter service needs, we can provide the total solution. • Our TransAction® network of ATMs processed more than 3.7 million electronic transfers last year. In tr a W Putting our mark on the ’80s. e s t Banks IntraWest Bank of Denver, n .a . Denver, Colorado 80270 303 293-2211 Member IntraWest Financial Corporation Formerly The First National Bank of Denver https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 46 ( Colorado A.R. Koeneke, chmn. & près., Rifle D. A. Childears, exec. m g r., Denver V . .................................................... 500 Attend Economie Outlook Forum FILLED to capacity crowd of 500 recently heard Beryl W. Sprinkel, Under Secretary for Mone tary Affairs, and Dr. Arnold Wheel er, president of the University of Colorado, speak at the Economic Outlook Forum sponsored by First National Bank, Boulder, at the Hil ton Harvest House. Both men spoke well of the Rea gan administration’s “ noble experi ment’’ in economics. Mr. Weber de scribed the policy as one aiming for three “ often elusive and mutually conflicting goals:’ ’ a steady and sub stantial economic growth, high lev els of employment and stable prices. Mr. Sprinkel reported, “ The econ omy is poised for a recovery, the up turn more probable and imminent with every day.’ ’ As evidence, he cited stock and bond markets mov ing forward, interest rates which have gone from a prime of 2D/2 per cent in January, 1981, to 13 percent today, and inflation now at five per cent, “ dropping faster than anyone anticipated.’’ Mr. Weber’s wrap-up of the state of the economy was not as optimis tic as that given by Mr. Sprinkel, however. Despite positive develop ments, he said, by other measures, “ the performance of the economy is A lackluster and we’ve failed to reach expectations.’ ’ Unemployment is still high, there’s been no real growth in the economy, planned investment is fall ing and there’s been a collapse in such key sectors of the economy as housing, steel and even the hightech industries. “ What you see,’ ’ he said, “ is an economy that will take a while to shake off 20 years of policy adven tures.’ ’ Dr. William Baughn, Dean of the School of Business Administration at CU, acted as moderator for a question and answer session held following the prepared remarks seg ment of the program. Five Promoted in Denver Central Bank of Denver recently announced the promotions of five staff members and election of two others to officer positions. Promoted was Jerry Helmke to vice president of the commercial banking division; Lydia Marenin, Frank Martinez and Theodore Scar brough to assistant vice president, and Cheryl Crandall to staff at torney in the legal division. The bank’s new officers are Barbara ■ i » mmmi. m PICTURED left to right: Walter A. “Tack” Browning, pres. & c.e.o., First Natl, in Boulder; Dr. Beryl Sprinkel, Under Secretary for Monetary Affairs; Tom Moon, chmn., and Leo Hill, pres., Affiliated Bankshares of Colorado. DigitizedNorthwestern for FRASERBanker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Czeczok and Catherine McGrath,® both customer service officers in the retail banking division. Mr. Helmke joined Central in February of this year. Ms. Marenin joined in 1973 and is currently th e# manager of the action banking cen ter in the retail banking division. Mr. Martinez has been with the bank since 1979 as assistant man ager of corporate services in th e # operations division. Mr. Scarbrough will be serving in the asset and lia bility division. Ms. Crandall just joined the bank in June of this year. IntraWest President Retires Albert D. “ Bud’ ’ Latham, presi dent of IntraWest Financial Cor poration, announced he will retire < from the com pany January 1, 1983. Mr. Lath am became the second vice pres ident of the cor p o ra tio n , fo r merly First Na tional Bancorp o r a t io n , in 1978, some ten A.D. LATHAM years after the Denver-based bank holding com pany was formed. Mr. Latham underwent major sur gery about one year ago and al though fully recovered decided to retire to reduce the demands imposed by his full-time position, thus creating more time for other bus iness and personal activities. Mr. Latham, who began his bank ing career in 1949 with the then First National Bank of Denver, will continue as a director of the holding company and four subsidiaries. Three Promoted in Denver First Interstate Bank of Denver recently announced the promotions of William C. Neill and E. Clay Speas to executive vice presidents and Jean B. McCoid to assistant vice president of international bank ing. Mr. Neill, formerly senior vice president, manages the commercial banking and retail banking divi sions. Mr. Speas, also senior vice presi dent, manages the corporate bank ing and operations divisions. Ms. McCoid was international banking officer prior to her promo tion. Colorado News 47 • Senior V.P. Named Elected to Lakewood Board Evergreen Officer Elected Nelson B. Cole has been named senior vice president, funds manage ment, at Colorado National Bank of ^ Denver. ^ Mr. Cole joined the bank in 1973, was elected a vice president in 1977 and assumed full management re sponsibilities of the investment department in May, 1980. Duane E. Henry has been elected to the board of directors of Colorado National Bank - Lakewood, announced William R. Frogge III, president. Mr. Henry currently serves as dis trict manager for Montgomery Ward and is responsible for all inventory, facilities and personnel operations in Colorado, Wyoming and Montana. Margie J. Bistline has been elected marketing officer of Col orado National Bank - Evergreen. Mrs. Bistline joined the bank in 1976, previously serving as exec utive secretary and administrative assistant. 0 Acquisition Completed Colorado National Bankshares, Inc., has completed the acquisition £ of Exchange National Bank, Colo rado Springs, for a total purchase price of approximately $39 million. The company has also received approval from the Board of Gover0 nors to organize a de novo bank, Col orado National Bank - Southwest, which is planned to open March 1, 1983. Boulder Promotions Told IntraWest Bank of Boulder has named Donald E. Martin and J. Stewart Fuller senior vice presi dents and promoted three others. Mr. Martin, who heads up the op erations area, joined IntraWest in 1972 as cashier. Mr. Fuller, a graduate of the Uni versity of Iowa, manages the bank’s commercial loan department. Richard C. Meckley, chairman of the bank, also announced that Pam ela P. Stokes was promoted to vice president and senior trust officer; Susan L. Lakey has been named as sistant vice president in the con sumer banking center, and Cynthia A. Conn was appointed marketing officer. Ms. Stokes joined the bank in 1979 as a trust administrator. Ms. Lakey has been with the bank since 1973. She began in bookkeeping and moved into the consumer banking center in 1980. Ms. Conn joined in 1981 from the First National Bank of Greeley, where she was a mar keting representative for two years. United Bank Names One Steven Colliatie has been named an assistant vice president at United Bank of Denver, according to Richard A. Kirk, president and chairman. Mr. Colliatie, who joined the bank in 1981, is a commercial banker in the correspondent banking depart ment. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Named “ Banker of the Year” D. Dale Browning, senior vice president at Colorado National Bank of Denver and president of b o th R ocky Mountain Bank C ard S y s te m and Plus Sys tem, Inc., has been named Col orado Banker of the Year by the Colorado Grad uate School of Banking. D.D. BROWNING W ith C o lo rado National Bank of Denver since 1965, Mr. Browning this year spear headed the formation of Plus Sys tem, Inc., the first shared ATM net work to be operated on a nationwide basis. Denver Bank Named Trustee For Student Loan Bonds IntraWest Bank of Denver has been named trustee in the issuance of $110 million of Student Loan Rev enue Bonds by the Colorado Student Obligation Bond Authority, accor ding to James R. Cowgill, vice presi dent and trust officer at the bank. The proceeds from the 1982 Series A bonds will be used to provide stu dent loans for post-secondary school education in Colorado. Mr. Cowgill said the bonds will be issued in $5,000 denominations or any integral multiple thereof, with various principal amounts maturing annually beginning in 1982. The in terest rate is 8.125 percent. Interest on the bonds is exempt from federal and State of Colorado income taxa tion. Denver Director Elected David S. Bershof, president of Mid-Continent Wholesale Co., Inc., Denver, has been named to the board of directors of Dominion Na tional Bank, Denver. Two Appointed in Littleton United Bank of SouthPark, Lit tleton, has announced the appoint ments of Virginia Becker to opera tions officer and Vernon Hansen to vice president in charge of commer cial banking. Prior to joining the bank, Mr. Hansen was executive banking of ficer at United Bank of Denver. Ms. Becker also joined the Littleton Bank from United Bank of Denver, where she served as a general ser vice group officer within that bank’s operations division. United Bank of SouthPark is a new bank to Littleton, having opened September 7, 1982. BAI Offers Account Rep Training on Microcomputer The first comprehensive, micro computer-based training program for bank customer service represen tatives was introduced last month by Bank Administration Institute at its first microcomputer con ference in Dallas, Tex. Designed specifically for financial institutions, the program entitled “ First Contact,” consists of more than 50 half-hour lessons of indepen dent study. The program covers bank termin ology, check negotiability, endorse ments and clearing, personal and commercial accounts, safe deposit boxes, billing, IR A and Keogh ac counts, certificates of deposit, credit cards, overdrafts, collections and other new account functions. In addition, the program offers an historical perspective of banking in a course titled “ Fundamentals in Banking,” and special lessons in cross-selling bank services and tran saction management. The program, developed by Linda O. Carducci, president, BancAids, Falls Church, Va., is designed to run on the Apple II Plus System. Accor ding to Ms. Lewis, however, the training package will be adapted to be compatible with other microcom puters in the very near future. Northwestern Banker, December, 1982 48 million Instant Cash transactions a year. ” Steve Navin U.S. National/ Electronic Banking When your custom ers w ant a debit card they can depend on, you can depend on U S . Instant Cash is a rising star in the electronic funds transfer industry. And the U.S. National Bank is committed to making this big service even bigger in the future. As a part of the Banco Electronic Banking Network, the U.S. National Instant Cash system has the equipment, the people, and a history of success. Electronic Banking. When your customers want it, you can depend on us. ONUS. For more information, call Steve Navin. 402/536-2328 Main Bank 20th & Farnam Regency Office Central Park Plaza Office Member FDIC Affiliate of Northwest Bancorporation Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis US National Bank of Omaha 49 Ogallala, has announced the addi tion of David L. Christensen to its board. Mr. Christensen, senior vice presi dent and trust officer, joined the bank in May. He formerly was vice president at the Security National Bank at Superior. Bank Officer Named to ABA Lending Division Tri-County Bank & Trust, New Bank — New Facility OUTHROADS Bank, Bellevue, S has officially changed its name to Tri-County Bank & Trust. The an nouncement came during recent # grand opening and ribbon-cutting ceremonies at the bank’s new facili ty located at Highway 73-75 and Camp Brewster Road in Bellevue. Southroads Bank, which has grown to approximately $9 million in as sets since its inception in 1973, pre viously occupied three separate offi ces in Southroads Shopping Center. The new $1 million facility was built over a nine month period. Drive-up capacity was expanded from two to four lanes and the office space doubled in the 8,544 square foot building. “ Creating new services has ex panded our customer base and brought about the need for expand ed office space,’ ’ commented Jack Ayres, president and chairman. Mr. Ayres assumed his responsibilities in September. He came to Tri-County from the First National Bank of Manhattan, Kan., where he was vice president and director of marketing. Joins Ogallala Bank Board Mel Adams, chairman of Keith County Bank and Trust Company, Betty J. Graves, vice president of the instalment loan division of Com mercial National Bank & Trust Company, Grand Island, has been named to the advisory board of the American Banker’s Association In stalment Lending Division - Con sumer Financial Services Group. The selection of board members is based on experience and leadership in retail banking. Mrs. Graves was also recently ap pointed as the new compliance of ficer for the Commercial National Bank & Trust Company, responsible for the internal controls pertaining to compliance regulations. Joins Rushville Bank Richard R. Otto recently acquired interest in the Stockmen’s National Bank of Rushville and has joined the bank’s staff as vice president. Mr. Otto previously was em ployed in the correspondence divi sion of Packers National Bank of Omaha. He holds a bachelor of sci ence degree in business administra tion from Nebraska Wesleyan Uni versity. Retires at North Loup Newest facility of Southroads Bank — now Tri-County Bank & Trust, Bellevue. Frances Van Horn, assistant cashier of the North Loup Valley Bank, North Loup, recently retired from her position with the bank. productivity and demand stronger, more assertive leadership roles on behalf of the bankers. Along that line, he advised the bankers to begin speaker on the agenda and was developing new leaders within the quick to set the tone of his address. banks to meet this demand. He also A director of the Independent Bank cautioned against the intimidation ers Association of America, Mr. of “ predatory’ ’ mega-banks and Backlund suggested that communi went on to accent the marketing ad ty bankers are in the professional vantage of the community banker race of their lives and advised the resulting from his personal relation ships and associations with the bank bankers to fasten their seat belts. As a result of the recently enacted customer. He feels that the indepenbanking legislation, Mr. Backlund said that survival for the indepen NEBRASKA INDEPENDENTS... dent banker will require increased (Turn to page 56, please) Nebraska Independent Bankers M eet in Grand Island By STEVE BURCH Associate Publisher i i i NDEPENDENTBanking—SurI vival of the Fittest’ ’ was the convention theme adopted by the Nebraska Independent Bankers A s sociation as they met in Grand Island on November 4-5. Native Ne braskan B.F. “ Chip’ ’ Backlund, president, Bartonville Bank, Bartonville, Illinois, was the first https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 50 Omaha HEN the nation’s largest re tailer and Nebraska’s largest bank plan a ribbon-cutting, they make sure the ribbon gets cut. John D. Woods, board chairman of Omaha National Bank, and Sam Compagno, manager of Sears’ Cross road’s store, used a Sears electric chain saw recently to cut a wooden bow to mark the official opening of Omaha National’s 12th and 13th MoneyMat Day/Night Banking Cen ters—outside the Sears Crossroads store at 72nd and Dodge and outside Baker’s Supermarket at 50th and Ames. W John D. Woods, third from left, chairman of Omaha Nat onal Bank, uses a Sears chain saw to cut a wooden bow marking the grand opening of Omaha National’s newest MoneyMat Day/Night Banking Center at the Sears Crossroads store in Omaha. Looking on, from left, are Melvin D. From, vice presi dent of Consumer Banking at Omaha Na tional; Sam Compagno, manager of the Sears Crossroads store, and Fred Woods, merchandise manager of Sears Cross roads. Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MoneyMats allow customers to get cash, make deposits or transfer funds between their checking and savings accounts using a Bank-InA-Billfold card issued through Omaha National or other plastic ac cess cards issued by some other in stitutions that have sharing agree ments with Omaha National. The MoneyMats are open day and night, seven days a week to provide around-the-clock banking conve nience. Mr. Woods said more than one mil lion transactions will be processed through the MoneyMat system this year. This not only represents tran sactions of Omaha National cus tomers, but also customers of nine other metropolitan Omaha banks and more than 150 outstate Nebras ka and Iowa financial institutions that have signed agreements that allow their customers to use the MoneyMats. The Omaha National Bank ATM s now are at 13 locations and there will be three more by next spring, Mr. Woods stated. * * * Douglas County Bank & Trust Co. has announced the promotions of Lawrence Ziska, Jr. to executive vice president; Duane C. Chunka to first vice presi dent and cashier; Charles A. Prai to vice presi d e n t; Robert Gross to loan d iv isio n m an ager, and Rich ard Kuhns to as sistant vice pres ident. L. ZISKA, JR. Mr. Ziska will direct the internal supervision of all bank departments, reporting direct ly to the president, Dale Heimann. R. GROSS R. KUHNS Mr. Ziska began his career with the bank in 1974. Mr. Chunka, who will manage the control division, was employed as a CPA prior to his joining the bank in 1964. Mr. Prai joined the bank in 1966 and will be in charge of the instal ment loan department in his new position. Mr. Gross started with the bank in 1971 as a loan officer in the com mercial loan department. Mr. Kuhns joined the bank in May of this year and will serve in the commercial loan department. * * * The Federal Reserve Bank of Kansas City has awarded a contract to Anderson Excavating and Wreck ing Co. of Omaha for demolition and preliminary site preparation for a proposed new Omaha Branch build ing. The site is bounded by the Astro Theater and the Goodyear Tire Store on the east, and by 24th, Farnam and Harney Streets. The property was purchased as the site for a proposed new branch to replace the building at 17 th and Dodge. Actual construction depends on final approval by the Board of Governors of the Federal Reserve System. The Board is expected to consider the Omaha building project later this year. Demolition will begin shortly and is expected to continue until next spring, with plans to begin construc tion in late 1983. * * * Dennis R. Wood, president of look into leasing Maybe youVe looked at getting into equipment leasing before but found it too expensive, too technical, and just plain too confusing. Well, look again! BANCLEASE can make your bank more profitable and at the same time provide you with a valuable new financial service to market to your commercial and agricultural customers. And, the best part is it won't cost you a penny! When you participate in the BANCLEASE program, you join many midwestern banks already using BANCLEASE as their own local leasing entity. An affiliate of the First National Bank of Omaha, BANCLEASE has an experienced leasing staff which assists you in structuring and pricing your leases, as well as providing the documentation, accounting, and operational support to maintain your lease portfolio. And, when we participate in the funding of the lease, there are typically no fees or service charges to your bank. DON'T DELAY! Give one of our leasing experts a call today. Our toll free number in Nebraska is 800-642-9907. Outside Nebraska, call us toll free at 800-228-9533. The sooner you act, the sooner you — and your customers — can profit from a leasing program in your bank. banc_______ lease, inc. first national bank of om aha https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis In Nebraska c a ll us toll free a t 800-642-9907. O utside Nebraska call us toll free a t 800-228-9533. M em ber FDIC. 52 Nebraska News M.R. DRAHOTA M.A. HERZBERG Packers National Bank, has an nounced the addition of Michael R. Drahota as investment banking of ficer, and Mary A. Herzberg as bond investment officer, both in the bond department. Mr. Drahota has over four years underwriting experience with a local securities firm. He will be working with private placements and under writing municipal bonds. Ms. Herzberg has over seven years previous experience in the bond trading and selling field. She will be assisting correspondents with their portfolio strategies. * * * Robert R. Kruger, chairman of the Ames Bank, has announced the ap- pointment of James F. Severin, Mar cia Kruger and Gregory Kruger to vice president. Mr. Severin joined the bank in 1980 as cash ier. Ms. Kruger has been with Ames Bank since 1975, h a v in g held v a rio u s titles since that time. Mr. Kruger worked part-time j.p. SEVERIN M. KRUGER G. KRUGER at Ames Bank while attending school, joining the bank full-time in 1980. * 5ft * William A. Chapman, president of F IR S T M ID A M E R IC A IN C . First in Service to the M idw est. . • • • • M unicipal Bonds Corporate Bonds Government Agency Bonds Listed and Unlisted Securities Fiscal Agents For c o m p le te inve stm en t service you can rely on... The Midwest’s Investment Professionals FIRST MID AMERICA INC. SÎPC Member New York Stock Exchange, Chicago Mercantile Exchange and other Principal Stock and Commodity Exchanges. Municipal Bond Department, 100 Continental Building Omaha, Nebraska 68102 / (402) 444-1900 STOCKS, CORPORATE, MUNICIPAL AND GOVERNMENT BONDS, OPTIONS, TAX SHELTERS AND COMMODITIES. Lincoln, Omaha, Grand Island, Hastings, Columbus, Shelby, Plainview, Nebraska. Des Moines, Atlantic, Cedar Rapids, Fort Dodge, Marshalltown, Iowa. Kansas City, Missouri • Wichita, Kansas • Chicago, Illinois • Houston, Texas. Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis B.C. Dressed Beef, Chapman C o m # modifies and Ultra-Air Aviation Companies, has been elected to the board of directors of American Na tional Corporation, according to John M. Shonsey, chairmn. # ABA Plans Conference on Cost Control, Productivity “ Corporate/Commercial Market-^ ing Strategies in a Cost Conscious Environment” is the theme for the 1983 American Bankers Association Corporate/Commercial Marketing^ Conference. Scheduled for March 2-4, 1983, at the Capital Hilton Hotel in Wash ington, D.C., the conference is de signed for line and staff bankers^ with responsibilities in areas such as marketing, corporate banking, com mercial services, business develop ment and commercial lending. “ Cost control and productivity j may not have been top priorities for corporate bankers in the past, but today these issues are getting ser ious consideration,” said Graeme M. Keith, chairman of the Corporate/ < Commercial Marketing Conference planning committee and vice chair man of First Railroad and Banking Company, Augusta, Ga. Subjects to be addressed include< designing an effective officer calling program, using incentive compensa tion plans in officer calling pro grams, developing a corporate ad vertising campaign, using target ( advertising and promotion to in crease market share, and designing a system for more effective product management. Other topics include increasing! market share with the use of credit services, pricing strategies to en courage total account relationships, determining the type of information needed to support sound marketing < decisions, and designing and imple menting a marketing data manage ment system. A display area, featuring mater ials from leading vendors of cor-( porate marketing supplies, will high light the meeting. The registration fee for the Cor porate/Commercial Marketing Con ference is $425 for A B A members,( $595 for nonmembers. To register, or for further information, contact Linda Parrish, A B A Marketing Di vision, 1120 Connecticut Ave., NW, Washington, D.C. 20036. Her phone number is (202) 467-4887. 53 m i j L il ¡ T * # L T ÿ T % # * * t i n i ili # NSC National Bank of Commerce M a in B a n k , 13th & O / P a rk w a y D riv e-In , W alk -In , 4 0 th & S ou th E ast P a rk D riv e-In , W alk -In , 6 6 th & O R a m p a rk D riv e-In , W alk -In , 1 2th & P M E M B E R FDIC — A c c o u n ts In s u re d to $ 1 0 0 ,0 0 0 / One of the Commerce Group Banks serving' Lincoln and Nebraska https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 54 department and was promoted to • loan analysis officer and department manager in 1978. Mr. Hansen has been a commercial loan officer since 1980. New Programs Added to Stonier Graduate School Dennis Stelzer has been appointed president and chief executive officer of the NBC Computer Services Cor poration. Mr. Stelzer has been with the operations division of National Bank of Commerce since 1971, serv ing as division head and vice presi dent since 1978. Larry Nelson is the new division head of bank operations for NBC. D. STELZER L. NELSON He has extensive experience in aud iting and bank operations, having begun his career with the bank in 1963. He served as vice president and auditor of NBC from 1977 to 1980, more recently as vice presi dent and department manager of de positor services. The board of directors of National Bank of Commerce has announced the promotion of Mark Hansen to assistant vice president. Mr. Hansen holds a bach elor’s degree in business admini stra tio n from the University of Nebraska-Lin coln. He joined NBC in 1976 in the loan analysis M.HANSEN Call Steve Sutton For Complete Credit Insurance Service . . . Call Toll Free in Nebraska 800-742-7335 or call collect 402-475-4061 Bank Programs for Group*lndividual Life*Accident & Sickness LINCOLN Where BENEFIT is more than a middle name Lincoln, Nebraska 68508 Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Steve W. Sutton Vice President This year the American Bankers^ A ssocia tion ’s Stonier Graduate School of Banking will introduce several new, innovative programs. Two examples are microcomputer ^ training and a new management edu cation module developed by the Cen ter for Creative Leadership in Greensboro, N.C. These additions, coupled with other major refine-^ ments to the program made in recent years — track courses and a new retail banking core, the new alter native to the traditional thesis, and classes segmented by student ex perience for more effective instruc tion — strengthen Stonier’s role in bank leadership development. Microcomputer training was add ed to Stonier’s curriculum because of the overwhelming needs of bankers in this area, said Dr. William Baughn, director of the Stonier Grad uate School of Banking. Evidence of this burgeoning interest was seen at the A B A ’s annual convention in Atlanta recently, where thousands of bankers attended standing-room-on ly sessions on the fast-growing field of microcomputers. The eight-hour microcomputer segment will be required for all first year students, Dr. Baughn said. Al though the course will be an intro ductory one, it will go beyond just teaching students how to use a mi crocomputer, he said. A new 12-hour module on purpose ful managment will be introduced in to the third year curriculum. This program replaces the Senior Sem inars previously required of third year students. The Center for Crea tive Leadership, a Greensboro, N.C.,-based educational and re search firm, will conduct the train ing program for third-year students. The program is designed to pro vide students with new knowledge and skills to bring about changes in the participants’ motivation, at titudes, and values, and to expand behavioral skills in setting and achieving organizational goals through more purposeful, goal-ori ented management. 55 ow is the time to position your Municipal Bond Portfolio to minimize the impact the 1982 Tax Act will have on your after-tax return on purchases made after December 31,1982. N We’d welcome the opportunity to assist you. DWAIN CARLSON RAY McMAHON JERRY LIST JIM VAN HORN # JAY CALLAHAN .Experienced specialists in helping you make the most from your Municipal and Government Bond Portfolios. In Nebraska, call 800-742-7326. Outside Nebraska, call 800-228-4141. Iilllllllllll!l FIRST NATIONAL LI NCOLN 13th & M Streets. Box 81 00 8. Lincoln. NE 68501 Member, F.D.I.C https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 56 Nebraska News LEFT—NIBA Officers for 1982-83 are: 2nd V.P. John Green, pres., Wauneta Falls Bk., Wauneta; 1st V.P. Dean Kugler, pres., Springfield St. Bk.; Pres. Dennis Brewster, pres., Butte St. Bk., and Treas. Tom Grove, v.p., Packers Natl. Bk., Omaha. RIGHT—Convention speakers in cluded: Paul Dunlap, pres., Hawkeye Bancorp., Des Moines, la.; Jim Moylan, NIBA gen. coun., Omaha; Tom Hoeing, v.p., 10th Fed. Res. Dist., Kansas City, and IBAA Pres. Bob McCormick, pres., Stillwater Bk. & Tr., Stillwater, Okla. Nebraska Independent Bankers Meet (Continued from page 49) dent bankers will soon face a greater challenge from conglomerate finan cial institutions “ possessing car nivorous appetites and an unwaver ing desire to control the entire world.” Changing to a different topic, Mr. Backlund compared financial advice given to President Reagan by Secre tary of the Treasury Donald Regan to advice given to the Czars by the Russian Rasputin. He said that he does not personally believe Mr. Reg an to be a wicked man, but stated that the Secretary must actually feel that “ what is good for Merrill Lynch is good for America. Mr. Regan’s religious drive, fed by greed, ignores the community banker.” He closed his attack with another comparison stating that, “ Secretary Regan is as dangerous to America as Rasputin was to Russia.” Moving to the subject of selling a community bank, Mr. Backlund was adamant in urging the bankers not to overlook the needs of the com munity when it comes time to sell the bank. He advised that the best buyer may not always be the highest bidder and suggested that the for mation of one bank holding compan ies can help to keep the bank in dependent after the sale. He told the bankers to “ stand up for community banking—it’s worth it!” In closing Mr. Backlund quoted Winston Chur chill when he spoke to the boys at Harrow School. “ Never give in, Never give in, Never, never, never, never—in nothing, great or small, large or petty—never give in except to convictions of honor and good sense.” Another native Nebraskan on the agenda was Paul Dunlap, president, Hawkeye Bancorportion, Des Moines, Iowa. Coming from an independent banking family well respected i Nebraska, he opened by revealing that this was the first time that his brothers had allowed him west of Omaha since he began banking in Iowa. Mr. Dunlap gave an autopsanalysis of the two Iowa banks that failed during 1982 and how Hawkeye Bancorporation pumped new life into them. As a result of his negotia tions with the Federal Deposit In surance Corporation in purchasing LEFT—Chuck Mitchell, dep. dir., Neb. Dept. Bkg. & Finance; Bill Henry, v.p., 1st Natl. Bk., Omaha; Dave Klipsch, chmn. & pres., 1s Westside Bk., Omaha; Doug Clarke, pres., Hastings St. Bk., and Ron Yaley, pres., Neb. St. Bk., So. Sioux City. RIGHT—Tom Grove, v.p., Packers Natl. Bk., Omaha; Bud Gerhart, pres., 1st Natl. Bk., Newman Grove, and Milton Klohn, pres., INDEX, Mpls., Minn. Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Nebraska News the two banks he said that he has no doubts that FDIC has two sets of rules when dealing with an ailing bank. “ If it is a small bank and ' sick—let it die. If it is a large bank and sick—put it on life support. There is no doubt in my mind that FDIC considers small banks expen dable and that they wanted to close the two banks in Iowa,” he said. Perhaps the biggest surprise of the convention came from Represen tare Doug Bereuter, House of Re presentatives, and member of the House Banking Committee. Prefac ing his remarks by saying that the bankers would respect and appre ciate his candor, he unleashed a ver bal attack against the IB A A and disagreed with them in their assess ment of the Garn Bill. While prais ing the NIB A for the role of the in dependent banker in the communi ty, he blasted the IB A A for its “ anti-progressive” attitude. He said that the IB A A was told by members of the banking committee to stop its “ petty bickering” with the Amer ican Bankers Association and added that the open hostility with the A B A displayed by the IB A A was damaging to the efforts of all bank ers. He did say, however, that con gressional support towards the inde pendent banking industry remains strong and urged the IB A A and A B A to speak with a unified voice. IB A A President Bob McCormick, also a convention speaker, respond ed to Rep. Bereuter’s statement in an exclusive interview with N orth western B anker . He said that the congressman’s view represents a very “ partisan attitude on behalf of the Republican Party and President Reagan.” He said that by signing the bill, the President is not acting in the best interest of the indepen dent banker. He further feels that Mr. Bereuter’s assumption that the A B A is speakng for the entire bank ing industry is “ ridiculous” and ad ded that the “ self serving Repub lican position ignores that the IB A A might be right.” Mr. McCormick concluded the interview by again expressing disap pointment in the new Garn Bill. He said that the expanded powers given to the thrifts in the new law will do enormous damage to the indepen dent banker. He says that he feels that the ailing thrift had the bankers over a barrel by their “ crisis” status while the bill was being debated. □ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 57 W ith today’s rapid changes in banking technology, data processing is becoming an even more important management tool. That’s where I come in. • • Ken Roeder Correspondent Bank Officer Security National Bank W hen Ken Roeder talks about h ow the advances in the field o f data processing can affect your operations, he’s speaking from experience— 15 years’ experience as a data processing specialist. Ken know s data processing. More important, he know s h ow to put it to w ork for the individual needs o f his correspondents. As a Security correspondent bank officer, Ken is also equipped to provide you with the best in ag lending and overline services. Today, your continued profitability is as important to Security National as it is to you. Through experts like Ken Roeder, w e ’re determined to help you protect it. SECURITY N ATIO N AL BANK Sioux City, Iowa 51101 (712) 277-6554 © 1982 Security National Bank Member FDIC Northwestern Banker, December, 1982 with our best wishes for a festive holiday season and prosper ous new year, may we say a special “thank you” to all whom we’ve served during 1982. It’s our hope that this most pleasant association may continue. If you plan to be in Des Moines during the holiday season, stop by and say hello. We’d be pleased to see you. Bankers C o m e C ro w t W it h U s 1 1 Des Moines, Iowa 50304 lO T U w l Member: FDIC/Federal Reserve System Iowa’s largest locally owned, independent bank Use our toll-free WATS line: 800-362-1688 Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 59 why the larger car with the two youths crossed the center line and struck the Fiat driven by Peter An son and carrying Steve Rehnstrom, Kyle VandeBerg and Paul Morony. Iowa Elected in Council Bluffs L.C. “Bud” Pike, pres., Grundy Center N. Milner, exec, v.p., Des Moines Three Named in Sioux City Michael J. Moeller, president of Northwestern National Bank, Sioux •City, has announced several changes in status among officers of the bank. Edward L. Collins, senior opera tions officer, has been named vice president, opera tions. Mr. Col lins joined the b a n k ’ s o p e ra tions sta ff in 1974, previously s e r v i n g w it h N orthwestern National Bank E.L. COLLINS of Omaha. ber director’s meeting. Mr. De Groote has been employed at the Livermore State Bank since 1975. A.C. Benton was elected presi dent in addition to his position as chairman of the board. Other direc tors of the bank are R.E. Miller, president of the Citizens State Bank, Iowa Falls, and R.G. Thul and Leo Bormann, area farmers. Spencer Student Killed Steve Rehnstrom, 17, son of Don Rehnstrom, president, First State Bank, Sioux Rapids, was killed in a head-on car crash recently 10 miles north of Spencer. Two other 17-year old classmates from Spencer High School who were in the same car with Steve Rehnstrom also were killed. They were Peter Anson, president of the school student body, and Kyle VandeBerg, quarterback of the Spencer High football team. Steve Rehnstrom was a star pitcher on the school baseball team. Three other Spencer High youths were injured in the crash. Two of D. STONE J. KIEWEL them were in one car, four in the other. A state highway patrolman Don Stone, marketing officer, has had just clocked both cars seconds been appointed vice president, mar before the impact and reported that keting. Mr. Stone joined North neither car was speeding. Although western as an officer in 1972 after 30 a light mist was falling at the time, years of association with radio sta there has been no explanation as to tion KSCJ and television station KTIV. Jan Kiewel, operations officer, was promoted to assistant vice pres ident, operations. Mrs. Kiewel started her Northwestern career in 1970, was named a marketing officer in 1975 and became an operations of ficer in 1978. First National Bank of Council Bluffs has announced the addition of Gerald D. Kelso as a personal bank ing officer. He previously was employed with First Federal Savings and Loan A s sociation for four years piror to join ing First National. Also at the bank, Bruce E. Hop kins, president of Mercy Hospital in Council Bluffs; David H. Kuper, M.D., a urological surgeon and part ner in Bluffs Urological Associates, P.C.; Robert D. Looft, Ph.D., superintendent/president Iowa Western Community College, and David R. Parker, treasury department, Peter Kiewit Sons’, Inc., have been elected to the bank’s board of directors. BICS President to Head NABS Brian Phillips, president of Banks of Iowa Computer Services, Inc., Cedar Rapids, was recently elected president of the National Associa tion of Bank Servicers for 1983. He served as vice president for NABS during the 1982 year and was pro gram chairman for all meetings dur ing that time. NABS meets several times each year to address the current chal lenges of bank data processing and to exchange ideas and information among members. The association also works with bank regulatory authorities to foster reasonable and workable methods for compliance with banking laws and regulations. Hills Bank Opens Iowa City O ffice Livermore Elections Told Dennis DeGroote was recently elected executive vice president and director of the Livermore State Bank. He replaces Robert L. Wilson, who passed away suddenly Novem ber 10. Mr. Wilson apparently suf fered a fatal heart atack as the board was concluding its regular Novem https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE Hills Bank and Trust Company officially opened its Iowa City office, located at the cor ner of Gilbert St. and Hwy. 6 Bypass, last month with an open house. The new 7,600 sq. ft. building offers a full range of banking services along with five drive-in lanes and a night depository. The bank also offers the area’s first 24-hour drive-up ATM, with another ATM located in the bank’s foyer. Northwestern Banker, December, 1982 LEFT— The most noticeable feature of United Central Bank & Trust’s new structure is probably its grooved Kasota stone exterior, an ex tremely hard, dense limestone. RIGHT—the bank’s airy, skylighted, two-story addition provides ample room for the bank’s teller windows and its marketing, bookkeeping and personnel departments. New Facility for M ason City Bank An unseen, but important part of the new building is its energy effi cient heating and cooling equip ment. The new air system, called zone control, involves 40 separate heating and cooling units and is ex pected to heat and cool the entire building with the same amount of energy used for the former bank structure. The system is solar re sponsive, which means it is capable of taking heat from the skylight and transferring it to other parts of the building. Pleased with the new surroun dings, Mr. Haver stated, “ We be lieve we’re progressive thinking and service oriented. We also believe the bank’ s design reflects forward thinking, a progressive attitude and customer service.” A FTER 14 months United Cen tral Bank & Trust Company of Mason City completed construction and is in its new home at State and Washington, two months ahead of schedule. The construction caused some inconvenience to customers, but the bank remained open through out the entire project. “ We simply had outgrown our quarters and as a result, we couldn’t serve our customers as well as we wanted to,’ ’ Hal Haver, bank presi dent, stated. “ So we decided to remodel and at the same time build for the future.” The project was completed in two phases. The first phase started in June 8, 1981, and involved construc tion of the new addition. In the se cond phase, starting last April 2, the bank’s 16,800 square foot existing building was gutted and remodeled. The 10,200 square foot, two-story addition includes a canopy covered drive-up area, with a blonde lime stone exterior finish. The interior features a skylight that adds beauty and warmth to the addition’s sub dued earth tone color scheme. Meanwhile, there is nothing old about the bank’s existing building. Completely refurbished, it now houses the various loan depart ments, a board room and bank of ficials’ offices. ITS Transaction Volumes Top Half-Million Mark less’ payment system is well accept their customers ‘convenient elec ed by the consuming public. tronic banking services’,” added Mr. Mr. Dooley said, “ at these volume Dooley. “ By actively establishing levels, this represents a total of terminal locations and issuing their 18,089,100 transactions annually. own cards, they are preventing larg With approximately 500,000 cards er money center financial institu issued by participating financial in tions from dominating the EFT pro stitutions, this works out to three cess. Preventing such domination transactions per card, per month. promotes competition and ensures Customers of the 175 participating fair pricing.” financial institutions in 84 cities in Iowa, Nebraska and South Dakota, are able to perform withdrawals, de Primghar Banker Dies posits, transfers and account bal Funeral services were held Oc ance inquiries at more than 385 tober 27 for James M. Metcalf, who shared terminals located in these had been associated with the First three states.” However, he noted National Bank, Primghar, since Sep that deposits are restricted across tember, 1925, until his retirement in state lines. January, 1977. “ Our increase in volumes is a re He was elected president of the sult of many midwest financial exec bank in 1964 and chairman of the utives recognizing the need to offer board in 1978. ITS, Inc., has announced that in October the ITS switch processed a record 502,476 transactions. That figure accounts for roughly onethird of the total statewide EFT transactions. Initially switching only 499 trans actions in February, 1977, ITS, Inc. has more than doubled its transac tion volume in 1982. The monthly switched total for January, 1982 was 240,765. The October figure in dicates a 110% growth rate over the first ten months of 1982. Dale Dooley, president of ITS, Inc., stated that “ the 1,507,425 total monthly EFT transactions pro cessed by 15 data processing centers clearly illustrate that the new ‘paper Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 61 DO HIGH INTEREST RATES HAVE YOUR CUSTOMERS DOW N? If the answer is yes, then NOW’S THE TIME to look at the competitive advantage for your bank...your own leasing company, which can offer your customers a low cost alternative for financing the equipment they need but have delayed purchasing. Today’s high interest rate environment has put a real strain on your customer’s cash flow, and has probably reduced their ability to qualify for loans. By offering your customers the ability to lease, they will improve their cash position and will be able to increase their borrowings from your bank. By operating your own leasing com pany, you will enhance your relationship with your customer and broaden the range of services you offer. UCB Leasing Corporation is familiar with and experienced in meeting the needs of banks and their customers. We have the expertise to assure that your venture into leasing gets started right. And, we will direct your full documentation in the critical areas of accounting, marketing and tax sheltering. If you are concerned about your cus tomers, your bank’s shrinking loan portfolio and loss of market share, you need to investigate the leasing alternatives. NOW’S THE TIME to call (without obligation) Bill Ranes or Tim Mercer at (515) 245-7222 to find out how UCB Leasing can help you and your customers. Bill Ranes Tim Mercer UCBLEASINGCORPORATION AFFILIATED WITH UNITED CENTRAL BANCSHARES, INC. LOCUST AT SIXTH, DES MOINES, IOWA 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 62 Iowa News ■ H I WÉ0§m ¿ )m¡m V - 1û y kM p := wHIt : .• ,, «V m a "ÄliiiliSsS First National, Sioux City Hosts Executive O fficer Sem inar IRST National Bank in Sioux City recently hosted an E x ecutive Officer Bank Management Seminar at the Hilton Hotel in Sioux City. Over 70 bankers repre senting the senior management of 40 banks in Iowa, Nebraska and South Dakota were in attendance at the one-day seminar. This was the third annual Executive Officer Sem inar sponsored by First National Bank. The theme of this year’s seminar was “ Meeting the Challenges to Future Earnings.” Topics presented F at the seminar included asset/liability management, considerations in pricing, managing your ag portfolio, managing with micro-computers and a review of DIDC activities. All of the topics discussed have a direct impact on the future earnings of community banks. The featured speaker at this year’s seminar was Silas Keehn, president of the Federal Reserve Bank of Chicago. Mr. Keehn’s com ments touched on Federal Reserve Policy, as well as current economic conditions. Ag Expert Speaks at Banquet HE coming year will be a wean ing out year among farmers, says Dr. Barry L. Flinchbaugh, as- T sistant professor of agriculture at Kansas State University. Mr. Flinchbaugh, speaking Mon- day night at Council Bluffs S avin g^ Bank’s 40th annual Cattle Feeders Banquet at Lakeshore Country Club, said net farm income is ex pected to decline for the third year in_ a row. ® “ Farmers may dream of being price makers, but they never were,” he told the nearly 300 people at the banquet. “ The law of supply and de-^ mand is not repealable.” * He speculated on the status of far ming as far away as the year 2000. “ We have just witnessed the be ginning of the end of commodity programs.” Mr. Flinchbaugh said the future holds less government subsidy, but more manipulation, es pecially in foreign policy. The beef served at the dinner was purchased from 4-H members atten ding Westfair. Branch Office Approved The Toy National Bank of Sioux City recently received approval from the Comptroller of the Currency to open a branch office at the Southern Hills Mall, South Lakeport. Johnson County Bankers Meet The annual meeting of the Johnson County Bankers Associa tion was held the end of October with the following officers elected for the 1982-83 year. President—Douglas Shanklin, vice president, Farmers and Merchants Savings Bank, Lone Tree; Vice President—Keith A. Jones, vice president and cashier, Unibank & Trust, Coralville. Secretary—Carol J. Tomash, as sistant cashier, First Trust & Sav ings Bank, Oxford, and, Treasurer—James R. Schultz, ex ecutive vice president, Hawkeye State Bank, Iowa City. Akron Merger Announced Harold Harms, president of the Akron Savings Bank, and James M. Hongslo, president of the First Na tional Bank of Akron, have announced that the First National Bank will purchase the assets of the Akron Savings Bank. The two banks will then merge in to one under the ownership and di rection of the First National Bank. This agreement is subject to regula tory approval, which is expected to GETTING together after Monday night’s Cattle Feeders Banquet at Lakeshore Country Club are Tom Whitson, president of the sponsoring Council Bluffs Savings Bank, Nikki take place before March, 1983. First Rath of rural Treynor, who was honored for showing the Reserve Grand Champion Beef at National will have combined assets Westfair, and Owen Darrington, Underwood area farmer. of $29 million. Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 63 Tb correspondent banking services a t A m erican T tu st and Savings When it comes to correspondent banking, American Trust and Savings takes the cake. In todays economy individuals and businessmen alike look to their bankers for inflation-fighting programs, money-saving plans and many special services. Yet you might feel unable to serve all those special requests. If so, help yourself by calling American Trust and Savings. Our Correspondent Banking Team and Trust Department cuts through the confusion surrounding correspondent banking services. And Bernie Miller has the recipe for success. Caill Services: Over-line loan participation Depository for excess funds Bond investment counseling (portfolios) Collections Domestic and foreign wire transfer of funds Currency and silver procurement ACH (Automatic Clearing House Services) Cash letters Custom HR-10s Keogh prototypes Corporate profit sharing plans Tax shelters Unincorporated pension plans IRAs A Bernie Miller, Correspondent Banker 319/582-1841 3 1 9 /5 8 2 - 1 8 4 1 . A m e r i c a n / » T r u s t t> S a v i n g s D a n l ^ The Benk^of Opportunity Town Clock Plaza, Dubuque, Iowa 52001 • 319/582-1841 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member FDIC and FRS Northwestern Banker, December, 1982 64 Iowa News NABW State Chairman Speaks to Northeast Group Ruth Willits, state chairman of the National Association of Bank Women, Inc., was guest speaker at the October 28th meeting of the Northeast Iowa Group of N ABW in Maquoketa. Mrs. Willits, vice presi dent, Northwest Bank and Trust, Davenport, spoke on the educational programs and scholarships available on both the regional and state level through NABW. She also reported on recent structural changes in the organization as a result of the Na tional Convention held in Los Ange les in September. Following the dinner meeting, a film and module on “ Delegating” was presented by Kay Fulrath, as sistant vice president, Merchants National Bank, Cedar Rapids. Recently installed officers of the Northeast Iowa Group are Chair man Marguerite Stoll, vice presi dent, Citizens Savings Bank, Anamosa; Vice-Chairman Patricia Lat imer, second vice president, Amer ican Trust and Savings Bank, Du- IF YOU HAVE OVERLINE NEEDS — LARGE OR SMALL — CALL NORTHWESTERN BANK Tom Pohlman Northwestern’s Correspondent Banker Is On Your Side! 712/ 252-4141 Northwestern Bank Of Sioux City An Affiliate of Northwest Bancorporation MemberFDIC Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Banco buque; Secretary Elaine Ott, assis^ tant vice president, Peoples Bank and Trust, Cedar Rapids, and Trea surer Marcia Bair, assistant cashier, Mount Vernon Bank and Trust. J. Harold Sears Retires. J. Harold Sears retired October 30 from his position as district direc-^ tor of the Small Business Admini stration in the Cedar Rapids district office. He had been associated with the SB A since 1972 when he was named Des Moines district director. He transferred in 1980 to a similar post in the Low er Rio Grande Valley district office in Harl ingen, Tex, reJ.H. SEARS turning from that position to Cedar Rapids in 1981. After receiving his BS degree in Commerce in 1938 from the Univer sity of Iowa, Mr. Sears became a management trainee at First Trust and Savings Bank in his native city of Davenport. From 1942-63 he was accounting department manager and later treasurer of Red Jacket Man ufacturing Company in Davenport. He moved to St. Paul, Minn., in 1963 where he was appointed comp troller and later assistant treasurer of Rodman Industries, Inc. He left that firm in 1972 to join the SB A in Des Moines. Mr. and Mrs. Sears plan to con tinue their permanent home at 1909 79th Street in Des Moines. 65 tell your bank to get lost. You know the feeling. You phone your big-city downtown bank and you’re put on “hold'.' Your calls go unanswered. Your request for an overline participation is “still being reviewed’.’ Obviously, your own bank’s needs have become less important as your downtown bank has gotten bigger. You're getting lost in the shuffle of big bank business. Changing banks and switching your account really isn’t a major hassle. If your big-city downtown bank isn’t doing a full-time job for you, fire them and hire us. Instruct your present correspondent to wire transfer the balance in your account to Drovers Bank of Chicago. Here's where you’ll get responsive, meaningful attention and service every working day. Quick decisions, fast response. At Drovers Bank, correspondent banking isn't just a sideline activity. We're one of the ten largest correspondents in Illinois, and it’s our bread and butter. Call me, John Crotty, toll-free at 800-621-8991 (in Illinois, 800-572-2498). Here is where you’ll find yourself. And find the kind of responsiveness, dedication, and attentive service you've been looking for in a correspondent. Member, Cole-Taylor Financial G ro u p — Independent Banks W orking Together Member Federal Reserve System and F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 66 Iowa News tion to investing in U.S. Goverr# ment securities. Mr. Westcott commented, “The Iowa Liquid Assets Fund was or ganized to attract back to the state some of the $1.6 billion dollars tha^ has been siphoned out of Iowa banks by the large eastern-based money market funds. Those funds invest their money in the obligations of th country’s largest banks and indu trial concerns and very little of the money finds its way back to Iowa. This hurts the state by reducing funds available to finance the low economy.” Mr. Westcott said there are THE Granger Office of the Brenton State Bank of Dallas Center has received special recognition in two recent competitions of the American Institute of Architects. The bank 118,000 Iowans who have invested was singled out in the 1982 Iowa Honor Awards Program and also in the 1982 Regional in the eastern MMMFs. He said the Honor Awards Program, involving five states—Neb., Iowa, Kan., Okla. and Mo. The bank Iowa Liquid Assets Fund interes was applauded for the integration of a residential setting exterior with a bank function in yield will fluctuate with market in terior. Many local people have assumed the structure was a remodeled home, rather than a terest rates but is expected to be new building, which has a two-story exterior and a one-story interior. It was designed for comparable to the return offered by generous daylight by Charles Herbert & Associates of Des Moines. other money market funds. Some of those investors from Iowa apparent Des Moines-Based M M F which will advise the fund on its in ly have switched their interest in To Buy Iowa Bank Loans vestment, said banks will continue money market funds to ILAF for it The Iowa Liquid Assets Fund to service loans sold to the fund and placed more than $3 million of funds began operation early last month as agree to repurchase the loan on in its first three weeks of business, the state’s first money market fund short notice in the event fund share Mr. Westcott said. The Fund’s goa1 of its kind and will invest up to 80% holders wish to cash in their shares. is $100 million, he added. of its assets in loans originated by He said the fund also will purchase ILAF will buy commercial, indus Iowa banks. Richard Westcott, pres federally insured student loans from trial and ag loans exclusively from ident of Iowa Investment Advisers, Iowa banks on similar terms in addi Iowa banks, he noted. The banks guarantee the credit, service thuloans for up to 300 basis points fee, and agree to repurchase the loans on short notice. “ This frees up millions in funds for Iowa banks to reinvest in loans,” Mr. Westcott said. Mr. Westcott’s business back ground has been in banking, invest ments and industrial financial man agement. A native of Burwell, Nebr., he was graduated from the University of Nebraska in 1955 with a BA in Business Administration, then obtained his MA from Harvard in 1957. From that year until 1961 he spent four and one-half years in the government and tax-exempt bond department of First National Bank of Chicago. In 1961 he joined Hayden, Stone, Inc. investment firm in its Chicago office, late transferring to New York. He returned to Nebraska in 1964 as one of five founders of Nebraska Securities, Inc., which was a spin out of the Old First Trust Co. That firm later became First Mid Amer ica. As executive vice president and director, Mr. Westcott headed up the firm’s corporate finance ac tivities. During his years with First Mid America, Mr. Westcott was on Committed to making your bank stand apart from the DigitizedNorthwestern for FRASER Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Iowa News he board of 10 clients, and was a member of the Board of Trade and Chicago Mercantile. He resigned that post in 1974 to become president of Wheeler Stores, wd chain of 50 discount farm stores in the midwest. That company was merged two years later with Peavey in Minneapolis, and later merged inJ;o ConAgra. From that post, Mr. Westcott moved to Des Moines as president of Mid-Continent In dustries, whose principal sub sidiaries were Mid-Continent Bot tlers (7-Up) and Tone Bros, spices. re served as president of the firm five years, and following its merger with Universal Foods he joined Hawkeye Bancorporation, working here two years as head of the finan cial services group, which handles all non-banking activities. Mr. Westcott headquarters in the Stephens Building, Des Moines, and ntends to direct Iowa Liquid Assets Fund to serving Iowa banks. Hawkeye-Capital, Des Moines Wins Iowa Corporate Run The 2nd Annual Iowa Corporate Run, sponsored by the American Lung Association of Iowa, was held recently at Jester Park, Des Moines, 'ver 400 participants from 27 dif ferent corporations entered the com petition. Winning the Class A 2-mile run for corporations under 250 employ ees was Hawkeye-Capital Bank & Trust, Des Moines. Hawkeye-Capital’s six member team won the event by finishing closest to their pre-race estimated times. Team lembers were Bob Baudler, David Pike, Greg O’Hara, Kirk Weaver, Ted Economos and Jim Koster. 67 WE’VE ADDED A NEW DIMENSION TO CORRESPONDENT BANKING What’s new in correspondent banking? At Valley National Bank it’s our new vice president and head of our Cor respondent Banking Department... Mark Christen. Whenever your bank has a need for any correspondent banking service, Valley Bank’s Mark Christen responds. He's always ready to serve your needs in person or over-the-phone, providing you with Valley Bank’s kill range of correspondent services, from overline assistance to transit services. You can rely on Mark Christen to respond...professionally and quickly. He’s the new dimension we’ve added to cor respondent banking at Valley National Bank, and his eagerness to respond to your needs is the dimension that sets us apart. THERE'S N O T H IN G LIKE MONEY IN THE BANK. THE VALLEY BANK Hawkeye-Capital Bank & Trust runners display the trophy for winning the Class A 2-mile event for the 1982 Iowa Corporate Cup Run. L to R: (kneeling) Ted Economos and Kirk Weaver; (standing) Greg O’Hara, Jim Koster, Bob Baudler and David Pike. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Valley National Bank m DES MOINES, IOWA 50304 MEMBER FDIC A ‘BANKS OF IOWA BANK Call toll free (800) 622-7262 Northwestern Banker, December, 1982 68 Iowa News | i 11111 1 ■ I ■ ; ■■ I ■ : A* ’ LEFT—James Struve, IBA Consumer Lending Committee chmn. and v.p., Merchants Natl., Cedar Rapids, poses with Wes Ehrecke, IBA dir. of gov’t, relations and mktg., and Senators Calvin O. Hultman (R), Senate Majority Leader, Red Oak, and Lowell Junkins (D), Senate Minori-j ty Leader, Montrose. RIGHT— Randy Steig, IBA exec, dir., seen with conference speaker Robert Georgeson, exec, v.p., First Natl. Bk. off Lawrence, Kan., and James Struve. Bankers meet in Des Moines to discuss: Consum er Lending/Retail Banking By BECKY MCBURNEY Associate Editor HE 1982 Iowa Bankers Associa tion Consumer Lending Confer ence—formerly Retail Banking Con ference—was held November 3 & 4 at the Des Moines Hyatt. The first speaker of the morning to address the group was Robert Georgeson, executive vice president, First National Bank of Lawrence, Kan., who spoke on “ The Future of Retail Banking.” In trying to define “retail banking,” Mr. Georgeson has developed his own definition of retail banking which he shared. “ I define retail banking as being th e p r o v id in g o f c o n su m e r financial services. Notice I didn’t say c o n su m e r ban kin g ser v ic e s —but c o n su m e r financial ser vices. Banking services are only one aspect of the total financial services required by individuals.” “ Looking at the past, commercial banking, indeed, is clearly on the threshold of a new era. For nearly 50 years, bank managers have been able to depend on three major staturoy and regulatory pillars: 1) limits on the costs of funds, i.e., maximum savings rates were regulated — regulation Q — we didn’t have to price; 2) an exclusive offering of ma jor products — no one else could of fer them; and finally 3) a protected geographic franchise — no free en try. “ But — all of that is rapidly changing now. There are a number of developing forces that promise to erode, it not completely eliminate, the traditional foundations of the commercial banking industry as we have known it. In fact, the entire financial services industry is under T Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis going an evolutionary, if not revolu tionary, change. “ There were many broad changes in the economic, social, regulatory, legislative and technological envir onment in the 60’s and 70’s. Such changes are shaping up at a more rapid pace in the 80’s. As bankers we must identify these many changes in the environment and involve our selves in research and marketing programs to develop the products that will appeal to the emerging con sumer profile.” In closing Mr. Georgeson stated, “ We all understand that bankers are on the brink of a new competitive era. We must plan to cope in a varie ty of ways using research, planning, training programs, managing our staff capabilities, marketing, man aging the interest rate risk and in novation. But most of these boil down to just one thing—p r o fe s sion alism . We must be professional bankers.” “ That means we are updated: we know all about, not only our own products, but about our competi tors’ products — both financial and non-financial institutions. It means that we operate with awareness. We must be continually aware of who we are, what we should be doing, and where we are going. It means that we are sales people, because we are going to be competing daily with other people who are totally profes sionally trained and sales oriented. “ Finally, to attain p r o fe s s io n alism as bankers, we will have to deal with the p e r c e p tio n as well as the rea lity because from the cus tomer viewpoint, the p e r c e p tio n is the reality. If our customers per ceive our banks to be: the biggest, the safest, the best, the most knowl edgeable, the friendliest, the most aggressive— as banks with profes sionalism-then we will be all these things and we will prosper as retail bankers in the emerging en vironment.” The afternoon consisted of round table discussions, and conclude! with a legislative panel moderated by Wes Ehrecke, IBA director of government relations and market ing, and consisting of Senators Calvin O. Hultman (R), Senate Mai jority Leader, Red Oak, and Lowell' Junkins (D), Senate Minority Lead er, Montrose. Thursday morning’s session heard Marcia Sullivan, general counsel! Consumer Bankers Association, Washington, D.C., inform bankers of what the Garn-St. Germaine Bill all entails, and how its going to af fect the banks. She also discussed! the bankruptcy reform the con sumer bankers association has been working on — the most important reform being to have future pay^ ments considered when bankruptcy is declared. The rest of the morning was de voted to a two-part demonstration of “ Asset Liability Management,” or more simply “profit planning,’’ given by Jim Vining, president and chief executive officer of Vining Sparks Securities, Inc., Memphis, Tenn. Through overhead charts and a* handout, Mr. Vining mechanically went through analyzing an example bank’s balance sheet; defining the problems and how to protect you^ net interest margin; how to build a1 strategy, and finally implementing that strategy, stressing that “you need to pick a strategy and stick with it.” The conference concluded with a" joint banker/spouse luncheon. □ 69 INVESTMENTS: JUST ONE OF OUR CORRESPONDENT SERVICES Let Dwaine Stinger, Vice President, or Roma Kroll, Assistant Vice President, show you how their experi ence can help you get fast action in handling Federal funds transactions, money transfers, security purchases and sales. G a ry Stevenson Joe Broders Vice President Correspondent Banking Correspondent Banking Representative 7 1 2 -2 7 7 -0 6 1 8 7 1 2 -2 7 7 -0 6 1 3 C hoose one o f our services or as many as you need: ITEM CLEARANCE Y ou get an accurate, efficient system for obtaining the best availability of your funds to help increase the profitability of your bank. LOANS You get a full range of loan services including overline and liquidity loans, assistance with your ag loans, commercial loans and others. CREDIT CARD SERVICES You get a total program for both MasterCard and Visa that includes card issuing, processing, corporate cards, account servicing and assis tance with merchant calls. And you get the geographic advantages of being closer to your Bank Card Center. TRUST ACCOUNTS You get an entire department of Trust professionals to assist you in meeting your client’s needs. DATA PROCESSING You get the speed and efficiency of the Banks of Iowa computers, plus the most successful EFTS/Instant Access processor in the territory. GENERAL CONSULTING You get our guarantee that whether you need a specific service, or just an idea or two, First National is always ready to help. S E A S O N S G R E E T IN G S A N D A H A P PY NEW YEAR! First National Bank m MEMBER FDIC • 712-277-1500 • Sioux City, Iowa 51101 • A ‘BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 NUMBER of promotions and personnel changes were recently announced by George F. Milligan, president and chief operating officer of the Iowa-Des Moines National Bank. William F. Landholt, senior vice president, construction and mort gage lending, will retire on March 30, 1983. He joined the bank in 1962 in the instalment lending depart ment and was named to his current A W.F. LANDHOLT G.E. GEISLER K.A. FORST W .W . DAVIS post in 1981. Mr. Landholt will be succeeded by Gary E. Giesler, vice president. Mr. Giesler joined the bank in 1977 in the lending division. He transferred to the commercial banking division in 1978. Keith W . Savery has been pro moted to vice president of the con troller’s department. Mr. Savery joined in 1974 as an auditor and was later named senior accounting of ficer in 1981. K.W. SAVERY D.L. GANZEL N.J. M EA D O W S S.L. FLEMING Roger H. Dahlstrom, vice pres? dent of human resources, has been promoted to human resources man ager. He will be replacing Will C. Smith, who has been named tl regional human resources executive for Northwest Bancorporation. Mr. Dahlstrom has been with the bank since 1975, having been named vice president in 1980. In the marketing division, Deb orah L. Ganzel was elected vice president and Kathleen S. Forst has been elected to officer status. Ms. Ganzel most recently has been sena ing as second vice president, having joined the bank in 1978. Ms. Forst joined the bank as a marketing re presentative in 1980. In retail banking, William Wj^ Davis, vice president, has been named retail banking manager and will as sume responsibility for all five IowaDes Moines retail banking locations. He joined the bank in 1972 and ha< held various management positions. Named retail banking officers were: Nancy J. Meadows, Euclid of fice; Stanley L. Fleming, Douglas of fice, and Janet M. McFarland, For( Des Moines office. Miss Meadows joined the bank in 1975; Mr. Flem ing began his career in 1978, and Ms. McFarland joined in 1976. Elected as second vice president were: Dennis A. Brown, area office manager, with responsibility for the Douglas, Euclid, Urbandale and Fort Des Moines offices; Randall L. Wade, Euclid office, and Christint A. Miller, Douglas office. Mr. Brown started with Iowa-Des Moines in 1974. Mr. Wade began in 1976, serv- J.M. MC FARLAND D.A. BROWN F.V. COLSTON L.M. GIBBS W m È r * -lililí ■I | P Cp: ! Â ": « p ; WmMËssmæm ^ ■■M L R.L. W ADE C.A. MILLER Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis T.A. BOWEN L. BERG mm** J h 71 DECKTHE HALL WITH BOUGHSOF HOLLY HAPPY HOLIDAYSEASON FROM THE UNITED CENTRAL BANK OF DES MOINES FAMILY TO YOU AND YOUR FAMILY UNITED CENTRAL BANK AFFILIATED WITH UNITED CENTRAL BANCS HARES, INC. MEMBER FDIC LOCUST AT SIXTH •FIFTH AT GRAND •3400 WESTOWN PARKWAY 35TH AND INGERSOLL •501 EAST ARMY POST ROAD (515)245-7111 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, December, 1982 72 Iowa News Des Moines AIB Honors M anagem ent MORE THAN 350 persons attended the Annual Management Appreciation Banquet hosted last month by the Des Moines Chapter of AIB. Guest speaker for the event was Thomas R. Smith, president of Fidelity Brenton Bank & Trust Co., Marshalltown, who has just com pleted a one-year term as nationwide chairman of the ABA American Institute of Banking. Following his address, Richard P. Pratt, senior vice president of Warren County Brenton Bank & Trust Co., was honored with a plaque as Outstanding Bank Manager of the Year. Pictured above at the ceremony are, from left: Mr. Smith; Mr. Pratt; Bill Greaves, v.p., United Central Bank, Des Moines, who is also vice pres, of AIB Region V, and Kent Gaudian, asst, oper. off., West Des Moines State Bank, pres, of Des Moines AIB Chapter. ing most recently as manager of the Euclid office. Ms. Miller joined in 1978. Named as operations officers were: Ted A. Bowen, Linda Berg, Frances V. Colston and Linda M. Gibbs. Mr. Bowen, who was named manager of deposit accounting this year, joined the bank in 1975. Ms. Berg has been with the bank since 1975 in the operations division. Ms. Colston joined in 1981 and was named manager of deposit accounting and electronic banking services in 1982. Ms. Gibbs joined in 1979 and has held various positions in the retail banking division. * * * United Central Bank of Des Moines, N.A., has announced that Gary L. Lasche', controller, Judith J. Bartlett, trust operations officer, and Michael E. Fuson, operations of ficer, have graduated from the School of Bank Administration. Mr. Lasche', Ms. Bartlett and Mr. Fuson were among five hundred bankers who completed the three year program of advanced studies held at the University of Wisconsin, Madison. Mr. Lasche' was one of on ly seven to graduate with high honors. DigitizedNorthwestern for FRASERBanker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Robert A. Baudler has accepted the position of vice president, com mercial loans, at Hawkeye-Capital Bank & Trust, and Alan J. Rivers has joined the bank as a commercial loan officer. Mr. Baudler, who joined Hawk eye-Capital a month ago, has served in several capacities in Hawkeye Bancorporation over the past nine years. He worked at State Bank & Trust in Council Bluffs before becoming manager of the company’s credit card center in 1977. He transferred to Commercial State Bank in Marshalltown in 1979, where he worked in all areas of the loan department. Mr. Rivers brings to HawkeyeCapital 10 years of experience with Household International, most re cently in a supervisory role over a three state area. She will have responsibility f receiving loan documents, collateral information, financial statements and all correspondence and data re lated to overlines. Mrs. Foxhoven also will have direct contact wit" correspondent banks regarding ac count status, bank call reports, an nual statements of condition, as well as being involved directly with cor^ respondent officers in the oper' tional relationship with customer banks. Mrs. Foxhoven joined United Cen tral in 1973 and has been in the cor^ respondent bank department sine 1976. She completed the business course at Area XI Community Col lege and a number of AIB classes. * * * Stephen F. Sherrod was recently appointed vice president/loan ad ministration of Banks of Iowa, Inc., according to Holmes Foster, presi dent and chief executive officer. A native of Phoenix, Arix., Mr. Sherrod is a graduate of Iowa State Universi ty, where he ma jored in indus trial administra tio n /m a rketing. He was most recently loan administration officer of United Central Bancshares, Inc., Des Moines, Brento National Bank of Des Moines, and credit manager of DICO Company, Des Moines. * * * Officer changes at United Central Bancshares, Inc., were announced recently by Kenneth M. Myers, pres * * * ident and chief executive officer. Richard McGinnis has been elec Margo Foxhoven has been promo ted vice president, marketing. ted to operations assistant in the Mr. McGinnis had served as assis correspondent bank department at tant director of the marketing divi United Central Bank of Des Moines, sion of the American Bankers Asso N.A., according ciation, Washington, D.C., for a yea to Ivan L. John and a half. Prior to joining the ABA, son, senior vice he was associated with First Vir president. Mrs. ginia Banks for seven years and Foxhoven will spent the last five years in various assist officers of marketing capacities, with his last the department position as head of the holding com with operational pany’s marketing and advertising transactions and activities. other dealings In this newly created position at with corresponM. FOXHOVEN UCB, Mr. McGinnis will have mar dent banks. keting responsibility for the com- % “Everything To Gain — Nothing To L ose!” Sounds like a bunch of worn-out ad slogans. But in the case of the IBIS WORKERS COMPENSATION IN SURANCE PROGRAM, they are perfectly valid statements. IBIS has put together a WORKERS COMPENSATION SAFETY GROUP program that has the potential of reducing your bank’s costs very dramatically. The most you would ever pay is your normal premium - L ess the usual IBIS dividend. An imm ediate premium savings! Then, based on the overall loss experience of the group, the plan can pay *dividends back to your bank as follows: LOSS RATIO TOTAL PARTICIPATING PREMIUM 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 61.2% 56.2% 51.2% 46.2% 41.2% 36.2% 31.2% 26.2% 21.2% 16.2% 11.2% 6.2% ‘ Dividend percentages assume a m in im u m p a rtic ip a tio n of 200 m em bers. C o n ta c t AI T in d e r or M e rritt Krause fo r d e ta ils Iow a B ankers Insurance & Services, Inc. 400 Financial Services Building 508 Tenth Street Des Moines, Iowa 50308 (515) 286-4300 Call our toll FREE W A T S number 1-800-532-1423 Sound Too Good To Be True? https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis It Is True! Northwestern Banker, December, 1982 74 Iowa News R. MCGINNIS S. ALLEN pany’s 12 Iowa banks, as well as the other non-banking affiliates. Other officer changes at UCB in clude the election of Steven Allen as loan review officer and Michael Sharp as audit manager. Mr. Allen had served as vice presi dent and head of the commercial loan department at Hawkeye-Capital Bank & Trust Company. Prior to joining that bank, he was associated with the Iowa Department of Bank ing from 1971 to 1979. Mr. Sharp was a staff accountant with McGladrey, Hendrickson & Co., Mason City, for three years. He graduated from Mankato State Uni versity in 1979, with a BS in accoun ting and business administration. N o w A v a ila b le — 1982 S U P P L E M E N T to: Marshall’s Iowa Title Opinions and Standards SECOND EDITION by Attorney George F. Madsen This first supplement to Marshall’s IOWA TITLE OPINIONS AND STAND ARDS (Second Edition)* was prepared by Attorney George F. Madsen, Sioux City, to update and, where needed, expand the text of the parent volume. Changes in statutes are noted and significant court decisions discussed. A new section on Bankruptcy Law has been added as a guide to examiners confronted with the task of identifying those basic requirements which will assure a title passing through a bankruptcy proceeding is marketable. Appendices in the supplement include tables of statutory references, a table of cases, and a new table which provides a convenient listing of the due dates of installment payments on real property taxes. *The Second Edition of IOWA TITLE OPINIONS AND STANDARDS (© 1978, 6 "x 9 " hardbound volume, 710 pages) brings to date the 1963 volume by the late Jesse E. Marshall. This practical volume contains materials intended to aid the reader in analyzing day-to-day problems encountered in the handling of title and real property matters. The Fifth Edition of the Iowa Land Title Examination Standards (1974) is set forth in full in an Appendix, along with explanatory footnotes by the author. Other helpful materials in the Appendices include: Coverage of prior editions of Title Examination Standards; Attorney’s checklist for real estate sales; Tables of measures; and Land descriptions. 10/82 ORDER FORM The Allen Smith Company 1435 North Meridian Street Indianapolis, IN 46202 □ Send_____copy(ies) 1982 SUPPLEMENT only, $16.50 each. □ Send_____copy(ies) BOUND VOLUME (with 1982 SUPPLEMENT), $45 each. It is understood the books may be returned within 30 days for full credit or refund. If retained, please forward future supplements as issued unless otherwise advised. Company/Firm Name/Library_______________________________________________________ Attn:______________________________________________________________ Address. Box. City/State/Zip. Joins Hills Bank James G. Pratt has joined I Bank and Trust Company controller. A 1970 accounting graduate fro the University of Iowa, Mr. Pratt, CPA, has been with McGladrey Hen drickson & Co. in their Iowa City of fice. EMC Insurance Posts 28% Gain for 3 Quarters Net income after taxes for EMC Insurance Group, Inc., Des Moine.* for the third quarter of 1982 amoun ted to $1,178,000 compared with $919,000 for the same quarter a year ago, a 28% increase. Income per share, primary, weL twenty-four cents ($.24) in the three months ended Sept. 30, 1982, com pared with nineteen cents ($.19) for the like period in 1981. For the nine months ended Sep 30, net income after taxes was $3,363,000 — or sixty-eight cents ($.68) per share, primary — in 1982, compared with $2,752,000 — sixtjjfive cents ($.65) per share — in 198^ INDEX OF ADVERTISERS DECEMBER 1982 Acorn P rin tin g ..................................................................... 10 American Express Travelers C h e q u es............................ 3 American Trust & Savings Bank, D ubuque...................... 67 Associates Commercial Corp...................................... Bank of A m e ric a .......................................... i ................... 14 Bankers Trust Co., Des M o in e s .........................................58 Commercial National Bank, P e o ria ................................... 24 Continental Bank, C h ic a g o ............................................... 11 Daktronics ........................................................................... 1 Drovers Bank of C h ic a g o ................................................... n F & M Marquette National Bank, M inn e a po lis................. 33 First Mid-America, Inc.......................................................... 52 First National Bank, C h ic a g o ............................................ 9 First National Bank, L in c o ln ............................................. 55 First National Bank, M inn e a po lis..................................... 26 First National Bank, O m a h a ............................................. 51 First National Bank, St. P a u l........................................ 34-' First National Bank, Sioux C it y .................................. Gross, Kirk Co., W a te rlo o ................................................... 75 IntraWest Bank of D e n ve r................................................. 4~ Iowa Bankers Insurance & Services, Inc............................7 lowa-Des Moines National B a n k ....................................... 7 Kooker, E.F. & A s s o c ia te s ................................................. 7 Lincoln Benefit L ife ...................................................... Merchants National Bank, Cedar R a p id s.................. Midland National Bank, M inn e a po lis............................... 2 National Bank of Commerce, L in c o ln ............................... 5 Northwestern National Bank, M in n e a p o lis.............. Northwestern National Bank, Sioux C it y ......................... 6 Office Concepts, W a te rlo o .......................................... Omaha National B a n k ................................................... 38-3 Ordered by__________________________ Signature (NOTE: If shipment and invoice are to be sent to different individuals, or addresses, please provide full instructions.) __________Check enclosed $__________ - postage/handling prepaid. __________Charge, plus postage/handling, payable 30 days from receipt of shipment. Security National Bank, Sioux C it y ................................... 5 Smith, Allen Co., In d ia n a po lis........................................... 74 Southwestern Grad. School of Bkg....................................1 UCB Leasing Corporation, Des M o in e s ......................... .61 United Central Bank, N.A., Des M o in e s ...................... : ,71 United Missouri Bank, Kansas C ity ............................ United States National Bank, O m a h a ............................... 4 Valley National Bank, Des M o in e s ................................... 6 Northwestern Banker, December, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The only bank we work harder fi than ours is TOURS. Promises don’t deliver results. Hard work does. Th a t’s why more than 4 0 0 banks count on our skilled professionals for total correspondent services. But hard work is just part of it. We back that up with comprehensive computer capabilities. International banking connections. Sophistical bankcard services. And sheer financial strength. For any correspondent need yd might have — large or small — yc can count on results from the har working correspondent bank in l IOWA . nesMoines A A N A T IO N A L B A N K Member FD1C An Affiliate of Northwest Bancorporation (BANCO) 7th & Walnut, Des Moines, Iowa 5 0 3 0 4 (515) 245-3131 Bernie Kersey Bob Buenneke Dennis Nahnsen Garry Frandson Tom Quinlin https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mark Conway Dorothea Wolfe <=>* f' «■ «S’ . <» > S & rO * v Ç ^e ^ > & <$& 9 ^ O ® , « ^ ^ \^Òo %° a ^ ^ < > W > e o»* c # ,9® Q0% , V * ^ >V^VV//V#'VvV •’VVVVVV^VV^*:* I * - -^— .J I B Over 194 Iowa financial institutions have used Kirk Gross Co. services! Do they know something you don’t? o i f a new facility, put tne responsioni^ anu Worrying in the hands of the TURN KEY pro fessionals. We keep up on the latest ideas on planning, designing, construction and furnishings. That’s why we have completed more than 194 projects since 1971. The best part of fftis unequaled record is that so many are re peat, satisfied customers. Let Kirk Gross Co. explain how our complete TURN KEY pro gram will save you time and money. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis If you’d like to know what other bankers know about Kirk Gross Co., call at your earliest opportunity. (How about right Now! Phone 319-234-6641) 4015 Alexandra Drive P.O. Box 2097 Waterloo, Iowa 50704