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Vol. 11 No. 36 Des Moines, iowa Decem ber 27,1982 1983 Outlook for Commercial Loans Each year the president o f Robert Morris Associates, the 69-year old association of more than 10,000 com mercial loan and credit officers, pre pares an Outlook for Commercial and Industrial Loans for the coming year. The 1982-83 RM A president, Douglas W. Dodge, has prepared the following summary. He is executive vice president of the $660 million asset Mercantile-Safe Deposit & Trust Company of Baltimore, M d businesses to take on additional debt to expand their stocks. Similarly, capacity utilization in the nation’s factories is touching the cyclical lows experienced in the midseventies, and, in some cases, util ization is below the previous cyclical bottom. In addition, and for a varie ty of reasons, off-shore lending has softened as a result of perceived credit problems and concern about the ability of many borrowers to ser ROM this vantage point in the vice what, in many cases, has be fourth quarter of 1982, it ap come rapid accumulations of exter pears that any growth in commecial nal debt. Short-Term Outlook Weak and industrial loans during 1983 will be gradual and will probably pro For all of these reasons, the short ceed at a pace slower than the term outlook for business credit de growth of the general economy. mands appears to be weak. A rever Business ac sal of this trend will have to await a cumulation of in more promising economic outlook ventories peaked which should emerge sometime dur in the third quar ing the year. ter of 1981 and A number of structural factors are showed minus at work which will affect both the numbers in the demand for bank credit and the first and second ability of banks to meet credit quarters of 1982. needs. Probably the most important Recent data sug is desire of corporations to reliquify gests that this their balance sheets through the sale D.W. DODGE declining trend of long-term obligations to fund a has continued. As businesses reduce heavy burden of short-term credit, inventories in reaction to recession both in the banking system and in conditions, debt is retired. More im the commercial paper markets. portantly, the outlook for resump The ravages of high rates of infla tion of inventory accumulation will tion, bond market rigidities, and the have to wait for the emergence of resulting high interest rates have real demand to induce the nation’s caused the financial structure of F t t American industry to deteriorate rather badly. We are presently going through a period where creditwor thy borrowers are funding their short-term credit, and this process still has a long way to go. While in terest rates in the longer term market have come down somewhat, they are still substantially above historic highs, and the real rate of in terest is discouraging many borrow ers from completing funding oper ations. Should rates continue to decline, this process of restoring financial health should lay the groundwork for economic recovery and, in turn, an increase in the demand for bank credit. As this process goes forward, banks should be able to continue to improve their own liquidity and, therefore, establish a foundation for growth in loans in the future. Consumers Will Lead An additional factor which holds promise for the future is the increased rate of savings by consumers which creates the capital pools necessary to accommodate business loan de mand. The combination of higher rates of personal savings and the working through of legislated tax cuts holds promise for the ability of the economy to generate increasing demands for goods and services. In planning loan growth for 1983, it seems to me that commercial banks need to await the emergence of demand for goods and services which will be translated into a rever- CALL ON THE “PERFORM ANCE TEAM ” where common transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M S tre e t https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis L in c o ln , N e b ra s k a 68501 • M e m b e r, F.D.I.C. 2 T eam w ork: O ne of the reasons we’re first in Iowa. Gariy Frandson Happy New Year to Our Banking Friends M alcolm Freeland, Pres. Anna Belle S h eets Investm ent S erv ices FREELAND FINANCIAL SERVICE An Affiliate of Northwest Bancorporation DANC u ^ Member FDIC sal of the decline and then an in crease in the level of business inven tories. While much of this increase can be expected to be accommodat ed in the commercial paper market, at least some of it should be met through accommodations at com mercial banks. Once this process has begun and capacity utilization re vives, there should be good pro spects for a gradual increase in termcredit demand to finance the expan sion of plant and equipment capacity. And, in the process, an additional hopeful sign should emerge. In re cent years, substantial tax induce ments to business capital formation have been enacted. Because of soft economic conditions, we have yet to see the full potential of these tax benefits in the form of increased ASK JERRY TRUDO to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank 151 M e m b e r F.D.I.C. A 'B A N K S O F IO W A ’ BANK Call (515) 245-3131 or toll-free (800) 362-2514 capital spending plans on the part of American industry. No discussion of the outlook for loan demand would be complete without a word about the effects of fiscal and monetary policy on the economy. Continued massive federal deficits with the attendant stim ulative effect on both the economy and the price level will pose chal lenges to national economic policy as they have for the last several years. Monetary policy has carried al most alone the burden of reducing inflation, and a continuation of this discipline is very much in order. Any major imbalances between fiscal and monetary policy contain at least the threat of disruption of the recovery. This possibility also needs to be in the minds of commercial bankers as they plan their activities for the next year and beyond. □ 1032 Carriers Building Des Moines, Iowa 50309 cond day will include presentations on productivity improvement, mi. crocomputers, and the future role of the Federal Reserve in EFT. Also, John Sikkink, executive vice presi dent, Iowa-Des Moines National Bank, Des Moines, will present # “Beyond the ATM.” The registration fee is $95 for ITS member participants and $200 for ITS non-members or non-partici pants. The conference dates replace the January 17-18 dates announced earlier. AMES: Daniel L. Krieger has been promoted to executive vice presi dent of the First National Bank of Ames. Mr. Krieger joined the bank in 1959 after graduation from Iowa State. In other changes, Donald K. Mangels was promoted to assistant Iowa News vice president, Kevin G. Deardorff The first annual ITS EFT Con to assistant cashier, and Scott T. ference is scheduled for February 3 Leland to auditor. and 4 at the Marriott Hotel in Des Moines. First day presentations will CEDAR RAPIDS: Donald C. Neberinclude the keynote address, “Chal gall, Robert L. De Meulenaere, and lenges of the ’80’s: Issues Facing the Richard P. P ratt have been elected Community Banker,” by O. J. Tom- to positions as chairman of the son. Mr. Tomson is president of Cit board, president and senior vice izens National Bank, Charles City. president, respectively, at the BrenAlso on the first day, Neil Milner, ton Bank and Trust Company. Mr. executive vice president, Iowa Nebergall and Mr. De Meulenaere Bankers Association, will present a are the founding executive officers “Glimpse of the Future.” The se- of the bank. Mr. P ratt joined the Professional ... 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Nebraska News FREMONT: John Westerberg, a former vice president of First Na tional Bank & Trust Co. of Fremont, will return to the bank as executive vice president/administration. Mr. Westerberg joined the First Na tional Bank of Fremont in 1973, ser ving as vice president/commercial loans before leaving to assume the presidency of Lincoln Bank East. OMAHA: Richard C. Lucas, Jr., and Janelle F. File have been named vice president and second vice president, respectively, of Omaha National Bank. Mr. Lucas, promoted from corporate banking officer, joined the bank’s holding company, Omaha National Corporation, in 1973 as a staff accountant. Ms. File joined the bank in 1968 as a key punch oper ator. Minnesota News LONG LAKE: Christine Timpe, age 31, assistant cashier of State Bank of Long Lake passed away Monday, December 14,1982 after a six month Estate Appraisals Purchase of Collections Sale o f Rare Coins Reliable and respected service for over 20 years illness with leukemia. South Dakota News Ms. Timpe joined State Bank of SCOTLAND: Scotland Holding Com Long Lake in 1969 and was named pany, Scotland, recently received assistant cashier in 1980. approval from the Federal Reserve Bank of Minneapolis to become a MINNEAPOLIS: Susan C. Keating bank holding company through the has been elected vice president- acquisition of the Farmers & Mer operating systems in the metro chants State Bank, Scotland. politan division of First Bank Sys tems, Inc. She is currently vice pres Montana News ident and manager of the bank card The 1983 Ag Credit Conference is center of First Systems Services, Inc., the service subsidiary of FBS. slated for February 9-11 in Boze man. Registration for the confer SOUTH ST. PAUL: The Drovers ence, to be held at the Holiday Inn, State Bank in South St. Paul has begins at 5 p.m. February 9. The changed its name to Drovers First registration fee is tentatively set at American Bank of South St. Paul. $85 for early registration and $110 for registrations after February 1. ST. LOUIS PARK: The Commis Activities include workshops on sioner of Banks on December 7, loan documentation and financial 1982, granted approval and consent statements, and an address on “Fi to the consolidation of Guaranty nancial Management Strategies for State Bank of Robbinsdale and Cit the Progressive Agri-Lender and izens State Bank of St. Louis Park Manager for the ’80s.” under the charter of Citizens State Bank. The location and place of LEWISTOWN: John M. Carlson business of the consolidated bank has been elected president and direc shall be the main office of the tor of Midstate Bank of Montana, Citizens State Bank. The main office Lewistown. A graduate of the Uni of the former Guaranty State Bank versity of Colorado, Mr. Carlson of Robbinsdale will be operated as a began his banking career in 1978 detached facility of the Citizens with the First National Bank of State Bank. Lewistown. T h e Quality Investment leam covers Nebraska and Iowa better than ever. Meet Jeff Goble and Dave Dickens. Your best authorities for bond portfolio management recommendations. Used by bankers throughout the midwest Ben E . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis kl Investment Division UNITED MISSOURI BANK Member FDIC of Kansas C ity n.a lOth and Grand Kansas City, M O 64106 816-556-7200 4 P O SIT IO N S A V A IL A B L E 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 306 -1 5th Street Des Moines, Iowa 50309 Phone 515/244-8163 Ail positions are in Missouri, Iowa, Kansas, Arkansas, or OMahc President, $35mm bank, college town $45 President, $4mm bank, small town $35,000 - $4C Bond Department, Sales/Servicing, metro area, la reputable, well established bond department with cellent long term record O Trust, Vice President, Employee benefits, metro area quires background in employee benefit marketing S stitutional money management O Executive Vice President, Lender, $25mm small town t $30 Bond Department, Admlnistrator/Sales, metro area, If reputable, well established bond department with cellent long term record O Commercial Lender, 3-5 years large bank experiencr quired plus a commercial lending school or equivalent a minimum of $15mm portfolio t Cashier, $30mm bank, in town about 8,000 to $21 President, $50mm bank, suburb, holding company affil to $55 Commercial Lender, 3 yrs. experience with a minimum $7mm portfolio C BANKERS TAKE HEED! Young, creative, hard working col lege graduate looking for a starting position in a bank or a financially oriented firm, willing to relocate. Write David D. Geiver, RR2, Box 1, Iroquois, SD 57353. (PW) PERSONNEL OFFICER—$160 million Iowa bank seeking a personnel professional with experience and working knowledge of salary and benefits administration; employ ment EEO/AAP; and staff planning and development. Col lege degree preferred with 3-5 years of personnel ex perience (banking or non-banking) required. Salary negotiable based on qualifications and experience. All replies confidential. An Equal Opportunity Employer. Write file RBO, c/o Northwestern Banker. (PA) BUSINESS DEVELOPMENT OFFICER— Iowa bank, member of a multi-bank holding company, seeking individual with excellent sales, marketing and business development skills with ability to sell financial services including new products. Needs to be a self motivator with 2-5 years ex perience in selling/marketing. Salary and commission package negotiable based on qualifications and ex perience. All replies confidential. An Equal Opportunity Employer. Write file RBP, c/o Northwestern Banker. (PA) AG LOAN OFFICER— Minimum two years banking exper ience required. Ag degree a plus. $60 million central Iowa bank. Send resume to file RBR, c/o Northwestern Banker. _______________________________________________ (PA) JUNIOR COMMERCIAL LENDING OFFICER for a $75 mil lion west central Minnesota bank. Educational back ground in credits and several years lending experience preferred. Send resume to file RBS, c/o Northwestern Banker. (PA) OFFICER POSITION in northwestern Iowa. Minimum 3-5 years experience necessary. Insurance operations & loans. Contact Stanley O. Nervig, Vice President, Farmers State Bank, Marcus, Iowa 51035. Phone 712/376-4154. (PA) AG LOAN OFFICER— Progressive $17 million northeast Iowa bank has an opening for an experienced ag loan of ficer. insurance licenses and operations background help ful. Pleasant working environment in rural area. Only sea soned officers need apply. Send resume, references and personal data to file RBT, c/o Northwestern Banker. (PA) VICE PRESIDENT COMMERCIAL LEN D IN G -eastern Montana Bank needs commercial lender with minimum of 4 years commercial and/or ag lending experience. Salary $28-$33,000 depending on qualifications and experience. Send resume to file RBZ, c/o Northwestern Banker. (PA) LENDING OFFICER—Commercial lending experience. New position with opportunity for growth in a progressive $36 million bank in east central Iowa town of 3,000. Send your resume to file RBU, c/o Northwestern Banker. (PA) Immediate opening for AGRICULTURAL LOAN OFFICER in eastern Iowa community, bank assets over $77 million. Applicant must have 3-5 years ag lending experience. Send resume to file RBV, c/o Northwestern Banker. (PA) SENIOR LENDING OFFICER to supervise officers in charge of all lending functions and manage the commer cial loan department in a progressive $77 million bank located in eastern Iowa. Applicant must have a minimum of 5-7 years of lending experience, 3-5 years in commercial lending. Resumes should be sent to RBW, c/o Northwest ern Banker. (PA) INSURANCE OFFICER—wanted for small agency in east ern Nebraska town of 1,400 population. Good potential for growth and development. Will also be able to assume banking duties. All inquiries confidential. Reply to file RBX, c/o Northwestern Banker.______________ (PA) AG BANKERS OFFERED This is a partial listing of our top ag finance candidates. All rate high on their appearance, personality, experience, references and attitude. These candidates are conducive to progressive banking: DEVELOPING NEW BUSINESS and MAKING QUALITY LOANS. All are currently em ployed, interested in advancement and bring records of being quick studies with ability to adapt. Ages of these top bankers range from 24-37, all have four year ag degrees and are able to relocate. Linda 515-394-5827 NW-1 BANK TRAINEE—School internship at a progressive bank along with a Business Administration degree and a sales personality. Wrote programs for the Apple II com puter. Self employed hog farmer. Sharp and personable. Engaged. IA. $17,000 Positions available change as more openings become able or as positions are filled. If you are interested in m. an advancement or change in your present situation, candidate registered with me, you will be informed as r tions come available that would appeal to you base what YOU want in a bank, in salary, in location, and in si. town or city. I do not reveal your name.to a client bank t you are interested in interviewing. Eighteen years of banking service as President of both and metropolitan banks enables me to find the right bai environment for you. Phone or send resume to: Dor Schooler, 901 A. West Jackson, Ozark, Missouri & Phone (417) 485-6020. EXDN ificH O O L E R It: AND a S m ASSOCIATES : "Successful Banking is Quality Personnel" SERVING PROFESSIONALLY Banking, Financial & Business Personn Iowa and Nationwide CAPITAL PERSONNEL SERVK NW-2 BANKING— PCA branch manager responsible for $11 million in loans. Stable individual (11 yrs. with PCA), record of credit quality and presents himself well. B.S. AG. Married. IA. $24-$30,000 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 NW-3 BANK TRAINEE— Licensed in insurance lines, Ag Business degree, sales experience, dresses well, farm background. Sharp, personable and willing to start at $14,000. Married. MN. What does your employees’ appear ance tell your customers about your bank? “We want to please you” or “We don’t really care?” Call us for the look of “Service” and “Success.” NW-4 AG CREDIT—3Vi yrs. as branch manager for FLB responsible for a loan volume of $55 million. Dairy farm background. Seeks performance oriented employer in banking. Married. MN. $25,000 + Jeannie 515-263-9598 If no answer: 712-779-3567 NW-5 VP & AG LOAN REP—for past 8 yrs. at a $50 million bank. Very involved in PR: speaks at ag functions in many states. Add this to previous sales experience = NEW BUSINESS. B.S. Ag Econ. Married. Mid 30’s. IA. $27,000 + NW-6 LOAN OFFICER/CREDIT SUPERVISOR— Has the background that’s in demand: PCA Loan officer with prev ious sales experience. Wants to relocate to city of 20,000 or larger. Single, B.S. Ag Bus. IA. $21,000 + NW-7 AG CREDIT—Six yrs. with FLB as A.V.P. & Branch Mgr. with $50 million loan portfolio. Reference says, “Top reputation as ag lender & citizen.” B.S. Ag Bus. Single. Age: 27. IL. $23,000 + NW-8 AG LOAN/CORRESPONDENT OFFICER—2 yrs. as Branch Mgr. of FLB in urbanized area. At ease handling loans with farmers or corporate executives. Makes new business calls on his own initiative. B.S. Ag Bus. Single. Age: 25. IL. $23,000 + We are ag banking personnel specialists. Since 1968. Confidential. Employers pay us to find the people they need. Call either office today. (515)394-3145 NEW HAMPTON, IA 50659 (712)779-3744 MASSENA, IA 50853 I NATIONWIDE Ban CAREERS, INC. - j THE ORIGINAL AGRICULTURAL RECRUITER JUfe/tJyioek CAREERAPPARE N. Main St., Carroll, la., 51401 712-792-274 POSITIONS AVAILABLE COMMERCIAL LENDER—senior position in $70MM sub ban bank. Supervise all lending activities. Good growth portunity. $38,(. OPE R A TIO NS — $50MM com m unity bank. Stro background in budgeting, costing and asset/liabi management desired. $28, EXECUTIVE VICE PRESIDENT—manage $15MM rt bank for absentee owner. Background in agri-credits t operations required. $30,i CASHIER/CONTROLLER— handle accounting, in ter and regulatory reports for $40MM suburban bank. Acco ting degree preferred. $26,' COMMERCIAL LOAN—staff addition to $200MM urt bank. Should enjoy business development and have years commercial lending experience. $28, AGRI-LOAN— manage Ag portfolio for $30MM rural ba Prefer Iowa native with Ag degree. $26,C TOM HAGAN & ASSOCIATES of Kansas City 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 11 No. 36 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 30 Fifteenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second class postage paid à Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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