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Des Moines, Iowa Vol. 10 No. 35 Decem ber 21,1981 D ID C Postpones Rate Decisions N A MOVE that totally ac quiesces to the views of Treasury S ecreta ry D onald R egan and Federal Home Loan Bank Board Chairman Richard T. Pratt, the Depository Institutions Deregula tion Committee voted on December 16 against giving the American public a fair rate of return on its sav ings at banks and thrifts. The DIDC five members voted to postpone consideration of new, more attractive savings instruments and a rate deregulation schedule which would have eliminated interest rate controls from time deposits of three and one-half years maturity or greater, beginning February 1,1982. Thus, the DIDC, after fierce cam paigning by savings and loan in stitutions that are in trouble with their longer maturities on mort gages, has agreed to hold banks down to the same level of interest rates that S&Ls feel they can pay as a maximum. As a consequence, ma jor non-bank competitors around the nation rejoiced and applauded the DIDC decision because, in effect, it continues to turn over to them the American public’s savings because these non-regulated competitors are free to pay market rates of return to savers. The industry from which Treasury Secretary Regan came to his Cabinet post, the investment I business, continues to carry off billions of dollars of savings from regulated institutions as part of the $190 billion MMF industry. American Bankers Association President Llewellyn Jenkins, vice ch a irm a n o f M a n u fa c tu r e r s Hanover Trust Co., New York, stated after the DIDC meeting on December 16, that the decision by the DIDC to postpone consideration of new savings vehicles for the American public was a “ major disappointment. ’ ’ “ This action,’ ’ he said, “ leaves bankers feeling disillusioned with the Reagan Administration and the Congressional leadership, which we thought had made a commitment to move ahead with deregulation. The only thing we’re sure of now is that there is jubilation in the executive suites at Sears, Prudential and the many brokerage firms offering Money Market Funds.” M r. J en k in s sa id fu rth e r, “ D epository institutions today desperately need new ways to hold onto their deposits and they need a rate deregulation schedule which provides the certainty needed for planning in a rapidly changing en vironment. “ By turning their backs to these needs, Congressional leaders and Administration officials are embrac ing an illusionary quick fix strategy which serves no one—least of all the saving public which demanded that interest rate limits be phased out. “ If bankers are forced to fight again to rejustify the basic principle behind rate deregulation, then we will join that fight because mem ories are short and understanding is too shallow. It is regrettable that such action may distract us from pressing for other financial reform legislation needed, if depository in stitutions are to be able to compete in the lbng run with their lesser regulated competitors. “ It is, indeed, ironic that the same legislators who have so explicitly re jected the proposal to put regula tions on these non-bank competitors are throwing roadblocks in front of efforts to deregulate banks and thrifts. This represents a Catch 22 in public policy that is indefensible.” In addition to Treasury Secretary Regan and FHLBB Chariman Pratt, who is cheerleader for S&Ls, the other DIDC members are made up of three federal regulators who are either anti or neutral to commercial banks—the Federal Reserve Board Chairman, FDIC Chairman and Na tional Credit Union Administration Chairman. The DIDC is not sched uled to meet again until March on a date not yet selected. □ Don't gamble when choosing a correspondent bonk. Come to the professionals. For any correspondent bonking need . . . overline assistance, d ata processing services, investment counseling . . . just give us a call. W e're the professionals w h o put the response in correspondent bonking. u c b CENTRAL Cyrus D. Kirk, V ice President OF DES MOINES, N .A. • MEMBER FDIC • TOLL FREE NUMBER (800) 362-1615 AFFILIATED W ITH UNITED CENTRAL BANCSHARES, INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Gany Frandson IOWA . nesMoines A A rSATIOMAL BANK ow did we qet to be first in Iow a? By putting Iowa first. An Affiliate of Northwest Bancorporation Mem ber FDIC Iowa News AU RELIA: H.H. Deyioff has sub mitted his resignation as president of First Trust & Savings Bank, but will remain as chairman. Mr. Deyioff began his banking career in 1923 and held the position o f president for the past 33 years. He and his wife will continue to live in Aurelia and spend the winter at their home in Florida. DENVER: The Federal Reserve Board has approved formation of Denver Bancorporation, which will acquire 91% of the outstanding shares of Denver Savings Bank. KNOXVILLE: Dean Hicks will join the Community National Bank & ASK DALE FROEHLICH to make MNB work for you. Toll free 1- 800 - 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis im BANCO" Call (515) 245-3131 or toll-free (800) 362-2514 Trust Co. as executive vice presi dent and managing officer, effective February 1, 1982. Mr. Hicks is presently senior vice president of Brenton State Bank of Jefferson, and has been with the bank since 1974. M ARSHALLTOW N: Thomas R. Smith, president of Fidelity Brenton Bank and Trust Co., has been ap pointed chairman of the A IB by Llewellyn Jenkins, president of the A BA . Mr. Smith replaces J. Rex Duwe, a former A B A president, and will serve on the A IB executive com mittee policy board. M O N TEZU M A: Richard (Dick) Arendt was named to succeed his father, the late Melvin Arendt, as president of Peoples Savings Bank. He is also a member o f the board and a former vice-president. Melvin Elliott was elected chairman and Mrs. Melvin Arendt as a member of the board. N E V A D A : Harold T. Fawcett, president of State Bank & Trust Co., a n n o u n ce d la s t w eek th a t preliminary agreement has been reached to sell the bank to William Burrell o f K noxville and his associates. The $30 million bank was founded in 1939 and still has many of the original stockholders. Just a week earlier, sale of the $35 million Nevada National Bank to an Omaha group was announced. Mr. Burrell and his associates also con tracted last month to purchase the Exchange State Bank of Collins, also in Story County. NEVADA: The board of Nevada National Bank has announced the election of Carl L. Rapp as presi dent. Mr. Rapp, CPA, was formerly associated with Omaha National Bank and more recently was a part ner in Yanney, Hughes and Rapp, an Omaha financial firm. SIOUX CITY: Security National Bank has announced the promotion of William F. Kabourek to senior vice president in charge of lending administration and loan policy. Stephen J. Hatz has been promoted from vice president to department head of the correspondent banking division. WATERLOO: Timothy J. Brodahl has been elected trust officer at Na tional Bank of Waterloo. He joined the bank earlier this year as ad ministrator in the trust department. WELLMAN: Named president of Wellman Savings Bank was Daniel H. Doyle, and Roger Borup was ad vanced to executive vice president. Stanley R. Barber, president for the past 25 years, will remain chairman Mr. Doyle was previously with the First National Bank of St. Louis. W H EATLAND: The First Trust and Savings Bank of Wheatland has elected three new officers—James B. Bowen, chairman of the board; Den nis M. Henning, president and trust officer, and David Buchanan, vice president. Nebraska News B E LLE V U E : Southroads Bank recently celebrated the ground breaking for its new facility, to be located in the northwest comer of Southroads parking lot. The facility is expected to be open by mid-1982. FULLERTON: Jack A. Lhotak of Lincoln, has been named a vice president for First National Bank and Trust. Mr. Lhotak has 20 years of banking experience and most recently has been vice president and cashier at Lincoln State Bank. LAVISTA: Mike Hogan, chairman o f Bank of Nebraska, has named Gary Karre o f Millard to president. He succeeds Bob Everett, recently deceased. 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OFFICER ..................................................................... TITLE CITY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STATE Open Houses Anniversary Parties Deaths or Retirements Speeches Made by Bank Officers Special Announcements to the Public 4 Calls for Illinois U nity M eeting N AN unprecedented move to the Illinois Bankers Association, the unite the banking industry in Il Independent Community Bankers of linois, the Illinois Bankers Associa Illinois, and the Association for tion announced on December 10 Modern Banking in Illinois, as well plans for a congress of all banking as representatives of national level organizations in the state to be held associations. Also included are the in St. Louis on January 28 and 29, chief executives of the money center 1982. banks in Chicago and St. Louis and James A. Fitch, president of the directors from the Federal Reserve IB A and president of the South Banks in those two cities. Chicago Savings Bank said, “ the However, when contacted last meeting will be called a Banking week by the N o r t h w e s t e r n B a n k Issues Congress. As the oldest and e r for their response to this open in largest banking association in the vitation by the Illinois Bankers state, the IB A has invited the lea Association for a joint meeting, ders of all banking organizations in leaders of both A M B I and the ICBI Illinois to discuss the critical bank stated that at present they do not ing issues of the day. The IB A is plan to attend as participating soliciting many view points to associations. establish common ground in a rapid James Watt, president of the A M ly changing banking environment.” BI, said that although AM BI has According to William J. Hocter, not yet issued any formal statement executive vice president of the Il on the matter, it does not plan to at linois Bankers Association, “ topics tend the IB A meeting. He recalled, to be discussed at the congress will “ W e’ve asked repeatedly for the include federal legislative and reg IB A leaders to come to the table to ulatory issues and state legislative discuss the issues and they have issues. We have invited a number of refused. This meeting as I see it is very prominent speakers including one totally run and operated by the Murray Wiedenbaum, the chairman IBA. We would be pleased to attend o f the President’ s Council o f if it was a joint meeting or one spon Economic Advisors, the members of sored by the A B A . AM BI already the Congressional banking commit has a consensus of members. When tees and senior regulatory officials they get their consensus, we’ll be to address the bankers.” glad to meet with them.” The invitation list of participants Robert J. Wingert, executive includes the leadership families of director of ICBI, also headquartered I Bankers Service LOAN ACTIVITY BULLETIN Who: names of ail debtors in the county recorded during the period What: name of secured party When the date the loan was filed with the Secretary of State Where: location where loan made FAST SERVICE ' A h K O H O S in S p rin gfield , s a id his organization’s leadership had just met that day (December 16) and it was decided ICBI would not attend formally as an organization. “ Our members are free to attend as in dividual members and take part in any discussions they wish,” Mr. Wingert said. □ * t Promote yourself to the head of the route l i st. . . Please enter my personal subscription to NORTHW ESTERN BANKER for: □ 2 years, $28 + □ 1 year, $15 Amount Enclosed____________ Mail subscription to: Name__________ Title___________________________________ Firm _______ □ Business_________________________ ' or □ Home ______________________________ City_________________ State_______Zip____ 306 Fifteenth Street Des Moines, Iowa 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis You may wish to take advantage of our Special Club Rate (5 or more) so you can add other officers and directors of your bank. These Club Rates are: One Year Two Years $12 each $22 each Just enclose a typed list of names and addresses and tell us whether you want the one or two year package. Send check for total, or we will be glad to bill your bank. 5 CALL ON THE “PERFORM ANCE TEA M ” where com m on transactions are handled uncomm only well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. Illinois News DETROIT LAKES: Detroit State Bank has changed its name to First Am erican Bank, announced C. LeRoy Larson, bank president. He stressed everything will remain the same, and attributed the name change to wanting to eliminate designating a geographical area with the name. N APERVILLE: Micheál J. Villemure recently joined Washington Bank and Trust as assistant vice president. Previously a bank ex aminer with the Federal Deposit In surance C o r p o r a t io n , M r. Villemure’s responsibilities will in clude assisting in daily bank opera tions. HIBBING: Merchants and Miners State Bank will undergo an exten sive Construction and remodeling project this winter, as approved by the bank’s board and Minnesota Commissioner of Banking Micheál Pint. The project will increase the banks’ working area by 40 percent. t and was previously a customer ser vice teller. Minnesota News Wyoming News SHOSHONI: Joe Barber has re signed the presidency of First State Bank, to take a management posi tion with Double D Enterprises, a Shoshoni firm. Mr. Barber has been president of the bank since the in HOPKINS: Mary Anderson has stitution’s opening in July, 1978. been promoted to assistant vice president and manager of the real Montana News estate mortgage department at Northwestern Bank South. She has G R E A T F A L L S : J e f f r e y C. been with the bank since 1973 and Mortensen has been elected cashier served most recently as real estate of Central Bank of Montana, accord officer. ing to an announcement made by HOYT LAKES: Verna Kopp has ac William E. Thorndal, president. cepted the position o f assistant vice Prior to his election he served as president in loan administration for cashier at Midstate Bank of Mon the First Northwestern National tana in Lewistown. Bank. She has been with the bank 16 years and as assistant vice president will be in charge of all loans. MINNEAPOLIS: Northwest Bancorporation recently promoted F. Randall Czeswik and Dean H. Hoppe to vice presidents in the human resources division, and Jean Powers investor relations officer. Mr. Czeswik has been with Banco since 1979, most recently as assis ta n t v ic e p r e s id e n t , hum an resources, as was Mr. Hoppe, who has been with the bank since 1974. HURON: The board of the National Bank of South Dakota has elected John Vanderboom vice president and manager, Huron branch, accord ing to Nels E. Turnquist, chairman and ceo. Mr. Vanderboom joined the bank in 1977 and was named vice president and manager, Presho branch, in 1979. North Dakota News FARGO: Pamela J. Triggs has been named assistant trust officer of Dakota First Trust Company, according to president H. Michael Hardy. She has served the firm since 1940. M AND AN: First Northwestern Na tional Bank recently celebrated its 100th anniversary. It opened its doors in November, 1881, as the First National Bank of Mandan, the first bank in what is now North Dakota west of the Missouri River. WILLISTON: John M. McGinley, president of the American State Bank & Trust Company, announced the addition of Richard Stahlberg to SIDNEY: The Federal Reserve the instalment loan department. Mr. Bank of Minneapolis has approved Stahlberg was previously branch the application of Security Richland manager of Metropolitan Federal Bancorporation, Miles City, to Savings & Loan in Lakota. become a bank holding company through acquisition of the Richland Colorado News National Bank, Sidney. South Dakota News DELL RAPIDS: Sharon Bittner has been promoted to customer service rep. at Northwestern National Bank. She joined the bank in 1975 DENVER: United Bank of Denver has announced the appointments of Timothy Morgan and Robert Pashe to the position of vice president and trust officer, and George W. Evans, Jr., to vice president. All three have been with the bank since 1981. BAUM AN RIFFLE A N D S C O TT Getting it done for you. H. C . Bauman ^ 234-2483 Dennis Riffle David Scott 234-2484 234-2480 Com m erce Bank of Kansas city https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC T lo n h n n oe (816) 234-2000 Tî> i-o n n n Toelephon * flUTDiTlflTED SVSTEmS □F IDUJffc-inC. “When it c o m e s to your insurance needs we put SERVICE first” Serving Banks throughout the Midwest. BANK PLACEMENT SPECIALISTS (Our33rdyear) Call experienced professionals to locate the right candidate for your vacancy . . . or the right “move-up” for yourself. CORPORATE RECRUITERS MIDWEST BANKING DIVISION 202 S. 71 st Street 402/393-5515 Omaha, Nebraska 68132 BANKS WANTED Buyers paying 1 Vfe, and up to 2 V2 times book for controlling interest in clean, profitable banks. Send details to file OBQ, c /o Northwestern Banker, 306 Fifteenth Street, Des Moines, Iowa 50309. (WTB) 5 1 5 -9 6 4 -1 3 5 8 WANTADS Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER 3 06 - 15th Street D es M oines, Iowa 5 03 0 9 Phone 5 1 5 /2 4 4 -8 1 6 3 ik tl f g Merry Christmas and Happy New Year to Our Banking Friends ^ M alcolm Freeland, Pres. FREELAND FINANCIAL $ f SERVICE | kj ft. 246 Insurance Exchange Bldg, Des Moines, Iowa 50309 JOB OPENINGS COMMERCIAL LOAN OFFICER: Large Texas Bank. Prefer large bank experience. Salary $30-40K depending on ex perience. MARKETING OFFICER: Prefer 5 years experience and pro ven performance. Would supervise marketing for a group of banks in eastern Nebraska. Salary $22-25K. CASHIER: $20MM bank in northeastern Missouri. Should have good record in operations. Salary $20-23K. COMMERCIAL LOAN OFFICERS: Large SW Texas bank needs two experienced loan officers. Should have some Agri loan experience. Salary $28-35K. SECOND OFFICER: Central Iowa bank of $40 million. Should have Ag degree. Salary $30k plus bonus and benefit package. AGRI LOAN OFFICER: Minimum 5 years ag loan ex perience. Ag degree required. Nebraska. Salary $30-32K. Good benefits. Write of call FINANCIAL PLACEMENTS, P.O. Box 13786, Kansas City, MO 64199 or 912 Baltimore, 9th Floor, Kansas City, MO 64105. Tom Chenoweth, Manager. Tom Cannon, Consultant. Phone: 816-421-7941. We are a fee paid employment service specializing in banking and related industries. SR LOAN OFFICER - IA Bank seeks 10-15 yrs. solid lending exp., emphasis on Agriculture. Some operations exp. is a definite plus. Must be ready to move up to #2. $30K range. CEO - MN location. Small clean bank seeks officer ex perienced in banking, emphasis on Agriculture. Need fam iliarity with all facets of banking. Excellent salary/benefit pkg. $35-$40K. COMM’L LENDING OFFICER - NE location. Lots of comm’l activity, heavily ag related. Need 3-4 yrs comm’l exp., someone who can “ hit the ground running” to lend maturi ty to young, agressive staff. $25-$30K. AG LOAN OFFICER, #2 - Seasoned Ag Lender with 3-5 yrs. exp. Need high image, agressive individual, looking to move to #1. Insurance a plus. $25K. FOR FURTHER INFORMATION RESPOND IN CONFIDENCE TO: FOR SALE OR LEASE 301 N. Ankeny Blvd., Suite 220 Ankeny, Iowa PARTIAL LIST OF AVAILABLE POSITIONS PERMANENT OR TEMPORARY - Sale or lease financial facilities. Available immediately: 14'x60' in Nebraska, 14'x50' with 2 DUWs in Illinois, 14'x60' mobile-type in Missouri, 9'x12'teller buildings available, 14'x60' in Wyom ing. Permanent facilities to 4000 sq. ft. SON CORPORA TION, Box 684, Wichita, KS 67201, (316) 942-8167, call col lect. (FS or L) POSITION AVAILABLE SENIOR LOAN OFFICER—Experience in ag lending ($50 million bank) in community of 8,000 population in northern Iowa. Salary open. Write File OBS, c/o Northwestern Bank e r_________/ _______________________________(PA) WANTED: Employee benefits person capable of taking over aggressive benefits department in Wyoming’s largest trust department. Salary commensurate with ability. Ex cellent benefits package. Position open immediately. Fur nish resume to: James Watson, VP/Sr. Trust Officer, Wyoming National Bank, P.O. Box 2799, Casper WY 82602. EOE/MF____________________________________ (PA) IMMEDIATE OPENING available in western Montana in mid-sized bank for an installment loan manager. Collec ting experience a must. Knowledge of student loans helpful. Write file OBX, c/o Northwestern Banker. (PA) Bank Division ROBERT HRLF w of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID WANT TO BÜY Used coin counting equipment in good condition. Contact John E. Dencklau, Farmers Savings Bank, Vincent, Iowa 50594. Phone 515-356-4155. (WTB) Microfilming Equipment in good pondition. Prefer Kodak for branch filming. Contact Carolyn Dannatt, Brenton First National Bank, P.O. Box 100, Davenport, IA 52805. Phone 319-326-4001. (WTB) Used coin counting machine in good condition. Ocheyedan Savings Bank, Ocheyedan, Iowa 51354. Phone 712/758-3141. (WTB) Twenty-eight to thirty drawer, check file cabinets. Phone Garnet Blankenburg, Siouxland N ational Bank, 402/494-2001. (WTB) FOR SALE LOAN OFFICER—Experience in installment, agriculture, and commercial lending for this growing $18 million south central Nebraska bank. Some trust experience would be helpful. Salary open. Write file OBN, c/o Northwestern Banker. (PA) Mosler Model FSW 1848 walk up teller unit. Never been used. Available immediately. First National Bank, Minden, Nebraska 68959. Phone 308-832-2030. (FS) AG LENDING OFFICER—Northwestern Illinois commer cial bank with deposit of $60MM is seeking an agricultural lending officer.. This is a progressive bank looking for a young person with several years experience. Send con fidential reply to File OBY, c/o Northwestern Banker. (PA) NCR 775-2100 12 pocket proof machine. Excellent condi tion. Has always been under maintenance contract. Hayesville Savings Bank, Hayesville, IA 52562. Phone (515) 622-2337.___________________________________ (FS) SERVING PROFESSIONALLY Banking, Financial & Business Personnel, Iowa and Nationwide Capital Personnel Service 714U.C.B. B uilding, 515-283-2545 Des Moines, Iowa 50309 m g Banking Specialists S IN C E 1 9 6 8 When H come« to agriculture, banking and personnel. . . go to the specialists — go to AGRIcaroors, Inc. Progressive bankers pay us to find the people they need. 2 Ag Lend. Off............ Cent. W l. $16-22,000 Cred. Mgrs. (2)............. Cent. IA . $20-23,000 Ag Loan Off. (2).................... IA . $20-25,000 Ag Loan Off......................... W l. $18-25,000 Cred. Supv. & Anal................ IA . $18-22,500 Branch Mgrs. (2).................NE . $18-25,000 Ask the ag banking specialists what’s available without cost or obligation. NEW HAMPTON. IA 50659 MASSENA. IA 5085' 1 (5 1 5 ) 394-3145 (712) 779 3744 SOD CAREERS, INC. / ^ THE ORIGINAL AGRICULTURAL RECRUITER J / POSITIONS AVAILABLE OPERATIONS - all internal operations and cashier duties for $30MM suburban bank. Definite opportunity for ad vancement. $25K COMMERCIAL LENDER - 3 yrs. or more commercial loan experience with large bank preferred. Could manage dept, within one year. $30K INVESTMENT ANALYST - trust division of major midwestern bank seeks senior analyst. Prefer experience with financial Institution analysis. $28K FINANCIAL OFFICER senior position with $400MM eastern bank. Must hold CPA certificate and have bank ex perience. $Open CASHIER - challenging position for good operations of ficer whose career is stymied. Suburban affiliate of one of the largest midwestern holding companies. $25K AG LENDER - medium size rural bank with 60% of port folio In Agricredits. Prefer college grad with Ag Degree and 3-5 yrs. experience. $24,000 MARKETING - major savings and loan has opening for marketing major with 1-2 yrs. experience In product development. $20K SENIOR LOAN OFFICER • $250MM wholesale oriented bank has an opening for commercial lender with 5 yrs. or more experience. Department head to retire In two years. $40K All inquiries confidential. Salary history and resume' requested. TOM HAGAN & ASSOCIATES of Kansas City P.O. Box 12346, 2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 10 No. 35 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis