The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Vol. 9 No. 35 Des Moines, Iowa Farm Credit A ct Amendments Passed UST before it finally adjourned, the “ lame duck” Congress finally passed the Farm Credit A ct Amendments bill (H.R. 7548) at 5:00 p.m. December 13. After some political maneuvering to adopt a funding measure to keep federal agencies operating until the new Congress convenes, legislators adjourned December 15. The Senate adopted only minor amendments to the House passed bill that had been supported by the Independent Bankers Association of America and strongly opposed by the American Bankers Association. ABA maintained that the bill would establish a government commercial type bank exempt from all controls to which chartered banks are subject, and would make deep inroads into farm lending now done by private banks. IB A A disagreed with this assessment, and looked to the provision for ag banks to discount loan paper at the discount window of the Federal Intermediate Credit Bank. A B A termed this provision “ Bait” for support of the bill. A B A President Lee E. Gunder son, president of the Bank of Osceola (Wis.), said, after passage of the bill: “ The outcome might have been different had it not been for the confused message sent to C ongress, exem plified by the I B A A ’ s support o f a single J provision that would benefit less than 20% of the nation’s total 14,500 commercial banks.” Mr. Gunderson stated further, “ An army of A B A commercial and ag bankers can be proud of their efforts to identify the dangers that this bill poses for all regulated lenders. Working up to the final hour, they were almost able to have the legislation deferred.” On the same day the A B A statement was released. IB A A sent a letter to its 7,400 member banks, signed by President Thomas F. T.F. BOLGER L.E. GUNDERSON Bolger, president, McHenry State Bank, McHenry, 111., explaining the IB A A ’s position on the bill. That letter stated. “ It’s fair to say this legislation would never have passed the lame duck session if it did not have the full support not only of the incoming administration but also of every major farm group. Many of the provisions to expand the Farm December 22,1980 Credit System had won broad and early Congressional support, put ting them out of the reach of further amendments. “ As it is now well known, the A B A asked IB A A to join with them in negotiating outstanding differen ces on this legislation with the FCS June 2 and 3, and members of the Senate Agricultural Committee and others were anxious to see these differences resolved. The negotia tions, which were conducted in the A B A board room, were apparently successful and led to the introduc tion of H.R. 7548. Then, responding to the protests of some money center banks upset with the negotiated product, A B A policy bodies backed away from the agreement. After careful evaluation, IB A A sustained the position of its negotiators. “ We recognize our effect on the W ashington scene, but w e’ re amazed by the suggestion that IBAA is responsible for passage of this legislation and by unsupported allegations that it will create a new financial octopus. We believe this legislation will complement the efforts of banks financing agricul ture, thousands of which make up our IB A A constituency. The bill as passed carries the clear Congres sional direction to the Farm Credit System to give assured access to the Federal Intermediate Credit Bank discount window to thousands of small and medium sized banks serving American agriculture. “ The A B A position essentially Don't gam ble when choosing a correspondent bonk. Com e to the professionals. For any correspondent banking need . . . overline assistance, data processing services, investment counseling . . . just give us a call. W e're the professionals w h o put the response in correspondent bonking. Central National Bank & Trust Com pany DES MOINES • MEMBER FDIC • TOLL FREE NUMBER (800) 362-1615 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Raymond Schneider, Corsp. Bk Officer 2 B an k o n a BANKERS’ BANKER Call 1-800-362-1688, toll-free in Iowa Don Caxmody Correspondent Banking Department Des Moines, Iowa 50304 Member FDIC, Federal Reserve System looked toward maintaining the status quo, while promoting the illusion that equal access for all banks indeed was possible and desirable. And, to prove that point, not even the House sponsor of the ABA-supported access amendment agreed with this assessment. “ The battle of the Farm Credit Amendments has not been without political cost, both in terms of banking’s relationships with the farm lobby and the respective agricultural committees of the Congress. We bankers have many important battles ahead, and these battles would be even more difficult if an alienated farm community and their elected representatives worked against us. “ It is clear that the door to the Farm Credit Administration and to the ag committees will be open to the IB A A as regulations on the law and FICB access policy are written. Links that have been forged with Jarm groups (by IBAA) will be useful to us when the all important inter-state structure issue is joined in the near future in Washington.’ ’ As interpreted by IB A A legisla tive counsel, the bill lists four criteria which banks must meet to be eligible to use the discount window: 1. Signed commitment to agri culture, amounting to probably at least 15 % of the loan portfolio being devoted to agriculture. This would include instalment and commercial on the call report going to farm Digitized forloans FRASER people and agriculture. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2. A bank must demonstrate a continuing need for funds. The main criterion here would be a peak loan/deposit ratio of at least 60 %. 3. A bank must not utilize the window to expand its assets for an artificial growth situation. 4. A bank must demonstrate it does not have access to regional or national capital m arkets. For administrative purposes, IB A A says it hopes FCA will pick some size that would autom atically include all smaller banks, perhaps those under $100 million or $500 million. The law allows for a case by case review, with built-in appeal procedures. □ Iowa News E A G L E G R O V E : Ronald C. Milbach has been named vice president and senior ag loan officer at the Brenton State Bank. For the past year and a half he has been a loan officer for the Northeast Iowa Production Credit Association of Elkader. He graduated from Upper Iowa University in Fayette. ELDORA: Donald Poppen, presi dent of Hawkeye Bank and Trust, has been elected president of the Eldora Chamber of Commerce for 1981. JEFFERSON: Mary Rhodes has joined the staff of the Home State Bank, according to Gerald Clause, president. Ms. Rhodes graduated from the University of Iowa in accounting and marketing, and will be cashier at Home State. LYTTON: Dwight Conover, vice president for Fidelity Brenton Bank and Trust Co. of Marshalltown, has been named chief executive officer of the Lytton Savings Bank. Mr. Conover is a graduate of Iowa State U niversity w ith a degree in agricultural business. He received a masters in business from Drake University. SIOUX CITY: John Dunleavy has been appointed manager of Toy National Bank’s trust division. Mr. Dunleavy, an attorney, has been in charge of the probate section of the department since 1978. SIOUX CITY: Registration forms will be sent out for the Gr. I meeting in mid-January. The meeting will be at the Hilton Marina, South Sioux City, February 13-14. W AVERLY: The board of the State Bank of Waverly has appointed Fred W. Hagemann president and "Opportunity IW IIr « I I l m r r & • • • Robert Scott, A Correspondent (tanker *" H» chief executive officer. Mr. Hage mann, formerly executive vice president, has been with the State Bank since 1972. Prior to this, he spent four years at the Federal Reserve Bank of Chicago. South Dakota ESTELLINE: The Farmers State Bank has announced plans for the observance of its 60th anniversary. The event will feature an open house of the banking facilities and a pork and beef supper. The bank was chartered in 1920 as the Farmers National Bank of South Shore. *J<>-w *w Minnesota News DODGE CENTER: Northwestern State Bank has announced two recent promotions to the staff. Barbara Cook has been promoted to marketing and personal banking officer, and James Watzek has been promoted to instalment loan officer and farm plan manager. Ms. Cook joined the staff in 1978 and Mr. Watzek joined in 1979. ST. PAUL: The board of directors of First Bank Saint Paul has elected & $ Estate Appraisals Purchase off Collections T. •*; i Sale off Rare Coins Reliable and respected service for over 20 years * Used by bankers throughout the midwest Ben E. Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 ¡jt&T ^season moMMtyym tbronßnout ecominayeaK Carleton D. Beh Co. Investment Bankers/Financial Consultants 1300 Des Moines Building Des Moines, Iowa 50309 515/288-2152 Des Moines https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 12-22-80 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 CALL ON THE “PERFORM ANCE TEAM ” where comm on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN « ir V y% ■% y -V $ * ► * *r « y ■vr t4 * * * % 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. Gerald P. Nichols a senior vice president and member of the bank’s management committee. He will also be responsible for the bank’s operations group. Announcement was made by Charles E. Amer, chairman of the board. Mr. Nichols has a degree in accounting from the College of St. Thomas. He joined the bank in 1958, was elected vice president in 1968. STILLW ATER: Charles R. Berg has been elected controller by the board of directors of Northwestern State Bank, according to James C. Graham, president. He started his banking career with Northwestern of Stillwater in 1955. Lorraine C. Weber has been promoted to manager of the Stillwater downtown facility. Mrs. Weber started her career with Northwestern of Still water in 1952. North Dakota News The NDBA Legislative Commit tee will meet on Thursday, January 8, at 10:30 a.m. in the Cologne Room of the Kirkwood Motor Inn, Bismarck, to study pending bank legislation and recommend postures for Executive Council considera tion. The Executive Council will then meet to make decisions on these proposals and other business on Friday, January 9, at 10 a.m. in the same location. During last month’ s N DBA Agricultural Conference in Minot, it was announced that farmers who had suffered drought disasters starting on or before July 2, 1980, could apply for loan assistance from the Small Business Administration and that the deadline for such applications was January 5, 1981. Farmers with drought-related dis asters beginning after July 2 are to apply for loan assistance through the Farmers Home Administration and their deadline is May 23, 1981. STRASBURG: Allyn A. Wald, SERVING PROFESSIONALLY Banking,Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis cashier and insurance agent at the Strasburg State Bank, has been named president and chief executive of that firm. Ownership of the bank changed hands, being transferred from one holding company to another. The bank’s board of directors now consists of Lester Van Beek of Hague, R.D. Gaukler of L inton, D onald Chewakin o f Pollock, John M. Shonsey of Winner, president, and Allyn Wald. Wyoming News Dwight Bonham, state examiner, announced that the resources of Wyoming banks as of Sept. 30 reached a total of $3.2 billion, an increase of $366 million and another all-time high volume. MILLS: The State Bank of Mills broke ground recently to begin a $1.5 million construction project. Currently located in a remodeled house on Wyoming Blvd., the bank will continue operations while undergoing construction until the planned completion date of August 1981. OM AHA: The U.S. National Bank has promoted three people to second vice president and three to new officer positions. Sylvia B. Myers is a second vice president and assistant manager of the bank’s Regency office. Jim Per singer, manager of the security depart ment, and John Rourke, manager of accounting, also are second vice presidents. New officers are Donna J. Eltiste, loan accounting officer; Curtis L. Koehlmoos, operations officer, and R uby P. T iller, investment officer. OMAHA: AnnaT. Olsson, 96, who retired as assistant cashier of the Omaha National Bank in 1955, died recently. In 1913 she joined the Packers National Bank. She moved to the Live Stock National Bank in 1918 and became its first woman officer, a position she continued to hold after the bank merged with the Omaha National Bank. Nebraska News The Nebraska Bankers Associa tion annual convention is scheduled for Thursday, Friday and Saturday, May 7, 8 and 9 in Lincoln. All sessions will be held at Pershing Memorial Auditorium, where con vention displays again will have special space. A golf tourney will start at 1:00 p.m. Thursday. The executive council and NETS board will meet Friday morning, followed by a general business session that afternoon and a banquet and entertainment Friday evening. The second business session will be held Saturday. The annual banquet Saturday evening will feature the Tex Beneke Orchestra for entertain ment and dancing, complemented with another musical group that will play during intermissions. The NBA will send convention and motel information to all member banks at a later date. DAVID CITY: Terry Novak, vice president and cashier of the David City Bank, has been elected 1981 president o f the D avid City Chamber of Commerce. T E R R Y M A R T IN to make MNB work for you. Toll free 1- 800 - 332-5991 Merchants National Bank Member F.D.I.C. 151 A BANKS OF IOWA' BANK □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. I I LENDING— Rural Iow a bank seeking in d ivid u a l w ith heavy experience in A g ric u ltu ra l loans. Needs som eone th a t does not need tra in in g . $26,000. Automated Systems of Iowa, Inc. 301 N. Ankeny Blvd., Suite 220 Ankeny, la 50021 515-964-1358 I Please C ontact: J. Mason Henry I PARTIAL LIST OF AVAILABLE POSITIONS Insurance for Financial Institutions ASST VP— 5 years experience in com m ercial lending w ith large bank. Keen business ju d g m e n t is th e key. $28,000. Charles E. Walters Co., Inc. I P.O. Box 1313, Omaha, N ebraska68101 Phone: (402)553-6400 I ■I LENDER— A t least 2 years o f experience in handling in s ta llm e n t loans, stu d e nt loans, d ire ct & in d ire c t loans. $17,000. P O S IT IO N A V A IL A B L E | BANKERS PARTICIPATING VICE PRESIDENT-M arketing. Experience required. A d d itio n a l du tie s inclu d e com m ercial and farm loans. E xcellent pote ntia l in $50 m illio n bank. Good salary and loca tio n . W rite file LBP, c /o N orthw estern Banker. (PA) AG LOAN OFFICER— 3-5 years ag loan experience. ■ ■ LeaseP lan.Inc. 545 - 31st Street Des Moines, Iowa 50312 R. L. “DICK” SELLON WANT ADS Rates 50 cents per word per insertion. Ad $2 for file numbers. Identity of file number advertisers cannot be revealed. Payment in advance, please. NORTHWESTERN BANKER 306-15th St. Des Moines, Iowa 50309 FO R SA LE NCR 775 sin g le pocket proo f m achines. E xcellent co n d itio n guaranteed back under NCR m aintenance. $4,500.00each. Call (512) 250-0794_____________ (FS) Burroughs T-8889 check prote cto rs w ith signer, dater and accum ulator. R econditioned by Burroughs. C ost $1,895.00 each new. W ill sell fo r $965.00 each. Call DeLaine Data C orporation at (512) 653-1454._____ (FS) □ My m a jo rity bank stock is fo r sale. □ I w ant to purchase m a jo rity stock in a bank. D egree p re fe rre d . S a la ry c o m m e n s u ra te w ith experience. Excellent ben e fits, bonus program . Phone B illin g s , M ontana, (406) 248-1860._______ (PA) Opening fo r cashier. M ust have experience in a ccou n tin g, regu la tion s, and o perations. Som e loan experience h elp fu l. Salary open. W rite Farm ers & Merchants B a n k & T ru s t, B u rlin g to n , Io w a 52601. (PA) TRUST ADMINISTRATOR fo r g row ing $45 m illio n central Iowa tru s t departm ent. W ill report to departm ent head. Excel lent career o p p o rtu n ity . Salary com m ensurate w ith e ducation and experience. Send resum e to: F ile LBR c /o N orthw estern Banker. (PA) LOAN OFFICER w ith consum er and ag lending experience w anted fo r p o s itio n leading to m anager o f co m m u n ity bank o ffic e in prim e Iowa farm area. Excellent o p p o rtu n ity fo r grow th oriented person. Salary com m ensurate w ith banking experience and e d u c a tio n . S end re s u m e to : F ile LB S c / o N orthw estern Banker_________________________ (PA) AG LOAN OFFICER— Experienced college graduate preferred. E xcellent benefits. Send resum e and salary requirem ent to file L B T , c /o N orthw estern Banker(PA) LOAN OFFICER - N orthw estern Illin o is $40 m illio n co m m u n ity bank needs an o ff icer w ith a m in im u m o f 5 ye a rs g e n e ra l b a n k in g e x p e rie n c e . E x c e lle n t o p p o rtu n ity in a good rural c o m m u n ity . Call A ndy Rogers, F irs t National Bank o f Galena (815) 777-0344. ________________________________________________ (PA) POSITIONS AVAILABLE JONES REALTY 205 South Eaton St. Lakewood, C olorado 80226 Phone: (303) 232-1189 . . . $23,000-$26,000 Operations Officer fo r $20 m illio n bank in C olorado ski area ....................................................................... $25,000 W rite o r call M alcolm Freeland, Freeland Financial Service, Inc., 3 0 6 -1 5 th S treet, Des M oines, la. 50309 Phone (515) 244-8163, E m ployer pays fee.___________ AG LENDING OFFICER. . .Iow a ............... $20-26,000 UPDATE YOUR ALARMS Special on 35mm auto cameras. Check with us first BEFORE making a purchase. SECURITY SYSTEMS, INC. 3920 Delaware Des Moines, IA 50316 [515]265-1161 Call our Bond Department For up-to-the-minute, accurate information LEND IN G — Rural bank seeks ind ivid u a l w ith 2 years o f ag lending experience. A LL FEES COMPANY PAID. FOR FURTHER INFORMATION RESPOND IN CONFIDENCETO: Bank D ivision ROBERT HALF of iowa, inc 317 6th Ave. Des M oines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID POSITIONS WANTED CEOs w ith ag lending backgrounds $30,000-$36,000 Second Man w ith stro n g ag lending exp. . . . $26,000 Operations o ffic e r w ith e xcellent experience desires jo b in lo w a /N e b ra s k a a re a .............................. $26,000 ISU Grad w ith property & casualty license seeks bank p o sitio n in o r near larger co m m un ity. W rite o r call M alcolm Freeland, Freeland Financial Service, Inc. 306 - 15th Street, Des M oines, la 50309. Phone (515) 244-8163. E m ployer pays fee. ‘ POSITIONS AVAILABLE MARKETING OFFICER— Managem ent p o s itio n w ith progressive 75MM bank. R es p o n s ib ility fo r dep o sit services and retail banking. Bank experience re quired .................................................................. $25,000 SECOND OFFICER— Good o p p o rtu n ity fo r lender form al cre dit ana lysis experience. Several openings in m ajor m etro areas o f M idw estern states. $18-20,000 r n v r uO w lv/iinL r nnivi ivirM'ir^ VJt.it. .. .Illin . iiimuio. PROFESSIONAL FARM MANAGER. o is . .. .. 20- 22,000 tru s t dept. M ust be proven a d m in is tra to r w ith good m arketing sk ills . Prefer law degree ............... $35,000 JUNIOR COMMERCIAL LOAN— Prefer degree and AG LOAN & OPERATIONS OFFICER. . .Iowa. . . .............................. $20-$28,000 ................................................ $ VICE-PRES— Iowa bank seeking #2 person w ith heavy experience in o perations and lending. P o sition open due to p rom o tio n . $35,000. w ith com m ercial and in s ta llm e n t loan experience. Bank is 35MM and located in W estern state. $28,000 AG BANKING CAREERS Please contact E llis Jones, Broker TRUST OFFICER— Some experience in tru s t dept, or legal firm . W ill eventually take on fu ll re s p o n s ib ility of th e tr u s t d e p t. E x c e lle n t o p p o r tu n it ie s fo r advancem ent. $20,000 TRUST HEAD— 100MM m etro area bank w ith grow ing Commercial Loan Officer w ith three to five years experience fo r m a jo r Iow a bank m astercharge, INSTALLMENT LOAN HEAD— P o sition requires 5 ' CEO. . . I o w a ....................................................$30-35,000 AG LENDING REP. . . I o w a ................................$20,000 years o f consum er lending experience inclu d in g d e a le r c o n tr a c ts . D e p a rtm e n t is 1 0M M and g ro w in g .................................................................. $25,000 COMMERCIAL LOAN—80MM suburban bank located Since 1968, banks and o th e r ag related em ployers have been paying us to fin d th e personnel they need. in large M issou ri c ity . M inim u m 3 years com m ercial loan experience in large ban k............................ $28,000 F o r more inform a tio n , give Linda (o ur banking sp ecia l ist) a ca ll today. A d d itio n a l o p p o rtu n itie s available fo r ju n io r and se nio r o ffic e rs . Please forw ard resum e and salary history. S O r i CAREERS, INC. m J AGRICULTURAL (515) 394-3145 PERSONNEL RECRUITERS New H am pton, IA 50659 TOM HAGAN & ASSOCIATES OF KANSAS CITY 2024 S w ift/P .O . Box 12346 N orth Kansas C ity , M issou ri 64116 _______________Phone (816)-474-6874______________ Tom Steffens John Henderson Vice President Vice President Asst. Vice President Asst.Vice President Bond Officer Bond Representative 234-2462 234-2463 234-2647 234-2691 usi Commerce Bank of Tony Paugoulatos Jim McLaughlin 234-2673 Rusty Reese 234-2674 aty ion,.„,<i«.,1,,, Member FDIC Dave Wittenborn (816) 234-2000 ' Voi. 9 No. 35 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 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
@FedFRASER