The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
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
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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.
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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
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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
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there’s a problem or question.
Call and ask for our brochure.
And ask us to make a free
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deliver service that’s as good as
(or better than) the F ed’s.
Northwestern Banker, December, 1982
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Federal Reserve Bank of St. Louis
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Commercial National
Bank of Peoria
MEMBER F D I C
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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
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BANKOf Minneapolis
M a in B a n k -4 0 1 2 n d A ve . S .
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Each of our correspondent
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If you’re tired of banks
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We’re big enough to know how and sm all enough to know you.
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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
■
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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
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_
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
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Federal Reserve Bank of St. Louis
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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
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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.
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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
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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
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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
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DON'T DELAY! Give one of our leasing experts a call today. Our toll
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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
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find out how UCB Leasing can help you and
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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
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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
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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
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Member, Cole-Taylor Financial G ro u p — Independent Banks W orking Together
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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
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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
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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,
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and sales.
G a ry
Stevenson
Joe Broders
Vice President
Correspondent Banking
Correspondent Banking
Representative
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Y ou get an accurate, efficient system for
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LOANS
You get a full range of loan services including
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ag loans, commercial loans and others.
CREDIT CARD SERVICES
You get a total program for both MasterCard
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You get an entire department of Trust professionals
to assist you in meeting your client’s needs.
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You get the speed and efficiency of the Banks
of Iowa computers, plus the most successful
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You get our guarantee that whether you need a
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National is always ready to help.
S E A S O N S G R E E T IN G S A N D
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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
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Federal Reserve Bank of St. Louis
The only bank
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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
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Federal Reserve Bank of St. Louis
Mark Conway Dorothea Wolfe
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