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Decem ber 3,1984 Des Moines, Iowa Vol. 13 No. 33 Illinois A ssn . Seeks Structure Change M AJOR change of direction was services permitted at main bank of taken by the Illinois Bankers fices and give authorization for the Association board of directors at the establishment o f two additional IB A annual meeting and Bank Man community service facilities to be agement Conference held at the deployed anywhere within the coun Marriott Pavilion Hotel in St. Louis ty, or if in another county no more last Wednesday, November 28. than 10 miles from the establishing More than 300 CEOs attending the bank. Both additional facilities may conference heard the report ap be established on the date of enact proved by directors earlier in the ment. The report on action taken by the day that, if enacted into Illinois law, would permit regional banking, board of directors was given to the statewide holding company bank more than 300 bankers assembled at the Wednesday noon luncheon by ing, and full service branching. A s announced to the membership IB A President Charles Wilson, prior to the annual meeting and chairman and CEO of First National Management Conference, the board Bank of the Quad Cities, Rock Is considered all three of these propo land. Also announced was the elec sals at their Wednesday morning tion of new IB A officers who will session, with 28 of 30 board mem take over January 1,1985. They are: President—James Forster, chair bers present. They took the follow man, DeKalb Bank, DeKalb. ing action: 1. Voted 24-4 to draft a bill for the Vice President—Thomas Andes, legislature that would allow recipro president, First National Bank, cal banking in contiguous states Belleville. Secretary—Harlan Yates, presi (Wisconsin, Michigan, Indiana, Mis souri, Kentucky and Iowa), with an dent, Cisne State Bank, Cisne. Treasurer—John Luttrell, presi effective date of January 1, 1986. 2. Voted 24-4 to support authorident, First National Bank, Decatur. During an ensuing press confer zation for Illinois bank holding com panies to operate statewide, thus eli ence to review the board action on minating the five regions now con bank structure change in Illinois, tained in present Illinois law as Mr. Wilson was asked what he enacted in the Illinois Bank Holding thought reaction would be from IBA Company A ct of 1957 and amended membership. Mr. Wilson stated that with all that IB A has to offer mem January 1, 1982. 3. Voted 28-0 to support legislaber banks, and being well aware of tion that would permit community the threat of unfriendly takeover service facilities to offer all banking possibilities from out-of-state banks A if nationwide banking should be al lowed, he feels that members will be aligned on this issue to avoid the possibility of such unfriendly take overs. He said the board’s approval means IB A is to draft legislation to be presented to the Illinois legisla ture in its next session early in 1985. Its reception in the legislature, he noted, is an unknown quantity. He stated further, however, that IB A has had a self-imposed moratorium on structure change the past two years. Since Illinois is a midwest leader in finance, he said, the IB A felt it needed to provide a leadership role in this area of structure change. Prior to the annual meeting and Bank M anagem ent Conference, CEOs of Illinois’ 1,200 banks were sent the three proposals to be con sidered at the St. Louis meeting last week. It was understood that ap proximately 35 letters of comment were received at IB A headquarters prior to the meeting and they fa vored board action approving all three measures by 75% to 85%. The same measure of support was re ported among the 32 members of the Task Force. In addition, each Task Force member gave his own report to the IB A board at the three and one-half hour meeting last Wednes day morning. This, Mr. Wilson said, gave the board a true, full report from the entire 32 members of the Task Force. □ SPRENGER AND JENNINGS Getting it done for you. m Ernie Yake Bill Sprenger Tom Jennings 234-2483 234-2625 234-2484 Commerce BankofKansascity https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC Telephone (816) 234-2000 2 Call on FNB for assistance with all your investment and cash management needs. BANK SALES AND PURCHASES Eddie Wolf Bank Sales 7202 Maple Drive, Des Moines, la. 50322 Phone: 515/278-2271 GARY STEVENSÖN/VICE PRESIDENT 712/ 277-0618 First National Bank bi Member FDIC • P.O. Box 3248, Sioux City, Iowa 51102 • A BANKS OF IOWA' BANK Prime Drops to 11.25% The action taken by Chase Man hattan Bank o f New York on Nov ember 27 to lower its prime lending rate to 11.25% was followed within a day or two by eight of the other top 10 banks. That is the lowest prime level since last March. This action followed the Fed’s drop in discount rate to 8 xh % . Chase had dropped its prime on November 7 from 12% to 11.75% and was followed by some other banks. Then, Citibank of New York and First National Bank o f Chicago reduced their prime rate to 11.5%. Late last week, a number of other major banks had still retained the 11.75% prime rate, including Bank of America. Wells Fargo, also of San ASK STAN FARMER to make MNB work for you. Toll free 1- 800 - 332-5991 Merchants ^ National Bank 151 Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Francisco, had remained at its 12% rate it adopted October 26, unitl last week’s action. Analysts were busy after these major bank moves trying to figure out how far the prime might drop, most of them stating in interviews they look for it to drop a little lower, trend slightly upward after the first of the year as loan demand picks up, then drop back again—all within a narrow range that probably won’t exceed two full points. Minnesota News OW ATONNA: Robert A. Reger has been elected vice president in commercial loans at Norwest Bank Owa- ® tonna, N.A. Mr. Reger previously was senior vice president o f Lake City Bank in Madison, Wisconsin, having started with that bank when m it was chartered in 1966. ® Iowa News CEDAR RAPIDS: Merchants Na tional Bank recently announced at its November 21 board meeting the appointment o f Pierre J. Herszdorfer as vice president of international Montana News Banking. Mr. Herszdorfer most re The Montana Bankers Associa cently operated his own interna tion will sponsor a Loan Documenta- q tional trade consulting firm in Des tion Seminar December 7 at Holiday Moines and prior to that was vice Inn West in Billings. Registration president and manager o f the inter ($95 fee) commences at 8:30; the pro national banking department at gram starts at 9:00 a.m. and ad Norwest Bank, Des Moines. journs at 4:30 p.m. f The M B A Education Committee says the seminar is designed for all Nebraska News bank personnel involved in docu GERING: Gering National Bank & menting loans (including closing Trust Company has received appro val from the Department o f Banking personnel). Federal and state laws £ will be studied as well. and Finance to merge Pioneer Sav ings Company, an industrial loan and investment company located in Estate Appraisals Gering, into Gering National Bank & Trust. Purchase of HASTINGS: Approval was recently received by Hastings State Bank from the Department of Banking and Finance to merge First Savings Company of Hastings, an industrial loan and investment company, into Hastings State Bank. O M AH A: A.J. (Jack) Canaday, who retired recently from First National Bank o f Omaha as executive vice president, has accepted the position of chairman and CEO at American National Bank in St. Joseph, Mo. Former chairman Charles K. Rich- Collections Sale o f Rare Coins R e l i a b l e a n d r e s p e c t e d s e r v ic e f o r o v e r 2 0 y e a rs U sed b y b a n k ers t h r o u g h o u t th e m id w e s t B enE . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 3 Call on the “Experienced Professionals” Ready to meet your correspondent needs. F ,R 5r n a t io n a l L in c o l n 13th & M Streets, Lincoln, NE 68501 A FirsTier Company • Norwest Franchises 8 W yom ing Banks ORW EST Corporation o f Min neapolis stepped into the bank franchising business last week with the announcement that Affiliated Bank Corporation o f Casper, Wyo., a $525 million bank holding com pany o f eight Wyoming banks, has become the first financial institution to participate in Norwest’s newlylaunched Alliance Banking pro gram. A t a signing ceremony at Casper headquarters November 28, Norwest Chairman John Morrison, and Affiliated President Robert Miracle, said the eight banks will adopt the Norwest name. This franchising will give the W yoming banks access to many of Norwest's programs and re sources, but they will retain their own ownership and management. Norwest has $21 billion in assets and 82 affiliated banks across its present seven-state area. This first move under the earlier announced Alliance Bank program positions Norwest for the first time in Wyommg, the next door neighbor south o f Montana, where Norwest has had a highly visible presence with bank ownership for several decades. The eight W yoming banks, who will now adopt the Norwest name as part of the franchising contract, are: W yom in g N ational o f Casper; Wyoming National o f West Casper and Wyoming National of East Casper; First National of W yoming and Wyoming State, both in Cheyenne; W yom ing National in Gillette; Wyoming National of Kemmerer, and First National in Wheatland. As part of the franchise agree ment, Norwest was granted an op tion, subject to certain conditions, to purchase the Wyoming banks if such transactions become legal in the future. N ® ® ^ ^ a ^ a 0 0 0 Illinois News AURORA: Aurora National Bank Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Oes Moines, Iowa 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis recently announced the promotion of Gordon E. Volkman to vice presi dent of community relations, and Karen Lee and Gregory B. Whipple to assistant vice presidents, com mercial lending. Mr. Volkman joined the bank in 1967 and has 18 years of professional bank experience. CHICAGO: Theodore H. Roberts, who has been president of the Fed eral Reserve Bank o f St. Louis since February, 1983, has resigned that post to return to Chicago where he will be chief executive officer of Tailman Federal Savings & Loan Asso ciation. Mr. Roberts is well-known in the Chicago area where he was ex ecutive vice president and secretary of Harris Trust & Savings Bank before accepting the St. Louis Fed presidency. Tallman is a $6 billion institution. It has been experiencing severe financial problems that have prevailed in the s&l industry, and absorbed several other s&ls in mer gers in recent years. CHICAGO: Thomas R. Beverlin has been elected a senior vice president in the commercial lending depart ment at The Mid-City National Bank, according to Kenneth A. Skopec, president. Mr. Beverlin, who has more than 25 years experience in banking, had been serving as presi dent of the National Republic bank of Chicago for four years prior to joining Mid-City. PEORIA: Robert T. Stevenson, Jr., has been elected president of Com mercial National Bank, effective January 1, succeeding David E. Connor. Mr. Connor, 59, who has served as president since 1967, will continue as chairman and chief exec utive officer. Mr. Connor is also president and CEO of Midwest Fi nancial Group, Inc., the bank’s hold ing company. Replacing Mr. Steven son as executive vice president will be Bruce F. Snyder, senior vice president, who has headed the bank’s trust division since 1975. Mr. Stevenson, 48, joined Commercial National in 1968 after seven years with Continental Bank, Chicago. I • Member, F.D.I.C. South Dakota News SIOUX FALLS: Robert E. Leech has been elected president o f First Bank of South Dakota—Sioux Falls and Gary L. Wickre has been named senior vice president and head o f the bank’s commercial and agricultural divisions in Sioux Falls. Prior to joining First Bank o f South Dakota, Mr. Leech served as head o f the trust division o f Brenton Banks, Inc. in Des Moines Iowa. He has served as senior vice president and trust officer and head o f the trust division in Sioux Falls since 1981. Mr. Wickre has been associated with First Bank System since 1963 and most recently was president of First Bank Madison, where he has been since 1981. C o m e to the quality investment specialists in Nebraska and Iowa. 1A A e ’reyour best authorities for bond portfolio m anagem ent recommendations. O ur quality is your key to success. —r Jeff Goble kl Steve Panknin Investment Banking Division UN ITED MISSOURI BANK “ DC of Kansas City, n.a. 10th and Grand o P.O. Box 226 Kansas City, Missouri 64141 (816) 55 6-7200 SKI COLORADO POSITIONS A V A IL A B L E Stay within minutes of 4 major Colorado ski areas. Luxury and economy condomin iums and townhomes. Call: Dwayne Smith, Anne Marie or Sue at Loan Officer-knowledgeable in all areas of lending. Minimum 3 years exp. plus good business dev. skills. Good career potential. PARADISE PROPERTIES Ag Lender-for $25MM bank. Be in charge of $8MM Ag portfolio. Need at least 5 years exp. Toll Free 800-922-2590 Denver, 892-9367 or 303-468-5846. Operations-Be in charge of all personnel in a $60MM bank. Oversee operations. Accountant-For bank. CPA. Min. 3 yrs. ex perience. to $30,000. POSITIONS AVAILABLE AG LENDERS • Need 2, S.E. Nebraska. CEO fo r southern Iowa bank. Requires 5 to 10 years experi ence. College graduate p re fe rre d ............ Salary to $40,000 COMMERCIAL LENDER for major Iowa bank. Prefer 3 or more years experience in metro market. Plus college back ground .........................................................Salary to $40,000 COMMERCIAL LENDER fo r multi-bank group. W ill head up $100 million loan p o rtfo lio ........................ Salary to $50,000 NUMBER TWO person for $100 million plus bank. Requires heavy loan experience in larger b a n k ----- Salary to $60,000 COMMERCIAL LENDER w ith real estate experience for major Montana bank; located in scenic area . Salary Open $35K range. MARKETING - Degree. Need several years of banking or S&Lexperience in marketing. Omaha. $35-40K. R COMMERCIAL LENDERS - Need 2. Degree. Need 3-5 yrs. of strong commercial lending. Des Moines. $35K. egency RECRUITERS. INC. CEO’s - Need 5 in West Iowa & Eastern Nebraska. Degree or not. Several years of banking experience, including management. $50-70K range. Call or send resume to: Diane Evans Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Financial Careers TRUST OFFICER skilled in trust documentation. Central Iowa lo c a tio n ............................................ Salary to $30,000 1102 Grand Avenue, Kansas City, MO 64106 816/842-3860 WANT ADS— Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identify of file letter ad vertisers cannot be revealed. NORTHWESTERN BANKER, 306 15th St., Des Moines, Iowa 50309. Phone 515/244-8163 FOR SALE INSTALLMENT LENDER for Montana bank, located in larger city. Requires banking experience Salary to $25,000 AG LENDER w ith some lim ited operations experience for community bank in eastern Io w a ............ Salary to $30,000 TRUST OFFICER for northern Iowa bank. Prefer person w ith legal degree to head up d e p a rtm e n t----- Salary Open AG LENDER w ith 3 or more years bank experience and col lege degree for clean com m unity bank in southern Minne sota .............................................................Salary to $35,000 COMPTROLLER/Accountant w ith three to five years exper ience needed by $300 m illion midwest b a n k ...................... .....................................................................Salary to $30,000 We have many other opportunities. Call or w rite Malcolm Freeland or Cy Kirk at Freeland Financial Service, Inc., 1010 Equitable Building, Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays reasonable fee. AGRICULTURAL CREDIT ANALYST Due to the growth and expansion o f an agricul tural credit corporation, a credit analyst position awaits you. Responsibilities o f this position in clude analyzing agricultural and agri-business credits. A bachelors degree in ag economics/business or related field plus 5-10 years ag banking ex perience. We offer a competitive salary and bene fits package. For confidential consideration send a complete resume w ith salary history to: IOWA BANKERS ASSOCIATION Liberty Building Human Resources Dept. 418 6th Ave. Des Moines, Iowa 50308 BURROUGHS EA2300 POSTING MACHINE-CALCULA TOR. Excellent for small business. Phone 319/827-1050. (FS) DIEBOLD STEEL RECORD FILE—Chest style with electric top door. Fire rated. 50 cubic feet of storage for cards. Safekeeping and securities. Perfect condition. New cost, $12,000. W ill sell for $5,000 or trade a safe. Call Bob at First Nebraska Savings, Papillion, NE. Phone 402/331-2224. _______________________________________________ (FS) BURROUGHS MODEL TT100 TELLER MACHINES • $500 each. Contact Craig Fahrner, Bank of Clarendon Hills, 200 Park Ave., Clarendon Hills, IL 60514. Phone 312/920-3900. ___________________________ (FS) POSITION AVAILABLE AND o V i ASSOCIATES "S u ccessfu l B anking is Q uality P ersonnel" If you would like to be informed of positions as they become available and if you are interested in chang ing your present position, send your resume or phone Don Schooler, 417-862-2265, 2506 East Meadow, Springfield, Missouri 65804. Information on you w ill be kept confidential until you are inter ested in a specific position. Eighteen years of banking serving as President of rural and metropolitan banks enables me to match you, technically and personally, w ith the right bank ing environment. SENIOR VICE PRESIDENT—The individual w ill supervise all loan departments. Requires Bachelor’s degree plus minimum five years’ lending experience. Salary commen surate w ith experience plus excellent benefits. Excellent career opportunity. Contact: Steve Afdahl, President Hawkeye Bank and Trust, P.O. Box 4068, Spencer, Iowa, 51301. Member Hawkeye Bancorporatlon. Phone 712/262-1940. (PA) AG LENDER— Position available for individual w ith ag lending background in $65 m illion bank in Grafton, ND. Ap plicant should have minimum of three to five years ag len ding experience and strong business development skills. Send resume to: President, Norwest Bank Grafton, N.A., P.O. Box 580, Grafton, ND 58237. (PA) POSITIONS CURRENTLY AVAILABLE Missouri, Iowa Oklahoma, Kansas, Arkansas, Illinois, and Nebraska VICE PRESIDENT, COMMERCIAL LENDER, in a $150mm bank, (K a nsa s)........................ to $40,000 COMMERCIAL LENDER, $225mm bank, (Io w a). . . ......................................................................... OPEN COMMERCIAL LENDERS, (Texas), $200mm bank ....................................................................to $40,000 ALL AROUND w ith AGRICULTURAL emphasis, 8,000 p o p u la tio n ..................................................mid $30,000 CASHIER for a $50mm bank, 10,000 population close to c i t y ........ ................................ to $25,000 PRESIDENT for a $30mm bank in small town close to c i t y .......................................................to $45,000 AG LENDER, $95mm bank, 30,000 population, (Illi nois) ..........................................................to $35,000 SENIOR LOAN OFFICER, $60mm bank, 12,000 population .................................... $35,000-$40,000 EXECUTIVE VICE PRESIDENT, $40mm bank . . . . ................................................................... $40,000 + 7625 Metro Boulevard • Suite 350 Minneapolis, Minnesota 55435 Phone (612) 835-4466 M A N A G EM EN T rea RECRUITERS OF MINNEAPOLIS THE SEARCH AND RECRUITING SPECIALIST TWO NCR 7750 MULTI POCKET PROOF MACHINES. Con tact Dale Froehlich. Phone 515/964-4293. (FS) (PA) DON-iScHOOLER |r LUCY HUBER “Banking Specialist" Ag Banking Specialists If you are interested in advancing your banking career, we w ill keep you informed of opportunities available and MAINTAIN THE CONFIDENCE YOU DEMAND. We do not use other recruiting ‘networks’ and no contacts are made on your behalf w ithout your prior knowledge and consent. Our Ag Banking Specialists serve you in dividually, discreetly, and professionally. Fee paid by employer. Linda 515/394-5827 New Hampton, la. 50659 I Jean 515/263-9598 (T/W/F) 712/779-3567 (M/TH) Massena, Iowa 50853 aqnGJREERS, inc. ■ J AG BANKING SPECIALISTS SENIOR AG LOAN OFFICER—w ith 5-10 years experience. Salary open. $24 m illion northeast Nebraska bank. Send resume to Bank of Elgin, R.K. Draper, Jr., President, Box 329, Elgin, NE 68636._____________________________ (PA) PO SITION S A V A IL A B L E AG LENDING POSITION— EasternNebraska. Opportunity to work w ith experienced ag lenders in servicing large portfolio. Ag degree required. Experience helpful, but not required. Reply to file: WCK, c/o Northwestern Banker. (PA) SENIOR LENDER - $25MM rural bank affiliated w ith major holding company. Overall management experience with emphasis on Agrilending. W ill become #2 within one year. ........................................................................................... $35 K SENIOR LOAN OFFICER AND ADMINISTRATOR—This individual w ill manage entire loan portfolio. Extensive com mercial and supervisory experience required. Extremely competitive salary and benefits. $125 m illion bank. Con tact: J.P. Mansfield III, Pres./CEO, United Central Bank & Trust, P.O. Box U, Ft. Dodge, IA, 50501. (PA) CEO • Southern Missouri bank o f $25MM. Requires strong agriloan and administrative experience. Small community. ................ $38K Small Northeast Iowa bank seeks LOAN OFFICER with two to five years general lending experience. We are seek ing a candidate w ith varied skills who is capable of many responsibilities. Salary commensurate w ith experience. Send resume to file WCL, c/o Northwestern Banker. (PA) LOAN OFFICER for $15 m illion bank in county seat town. Must be experienced In all phases o f lending w ith empha sis on agricultural and commercial loans. A minimum of five years experience necessary. Salary commensurate w ith experience. Excellent benefits offered and oppor tunities for advancement available. Send complete resume and salary requirements to file WCM, c/o North western Banker. (PA) AGRILOAN - handle m ajority of Ag and some Instal. credits for $20MM community bank. Prefer degree. . .$24K COMMERCIAL LENDER - suburban bank of $60MM located in large metro area. Position demands ability to generate new business and good analytical s k ills ... ,$30K SECOND OFFICER ■medium size community bank. Prefer Agriloan and Operations background. Excellent recrea tional facilities nearby......................................................$36K Additional opportunities available in midwestern states. TOM H A G A N & A SSO C IA TE S 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 13 No. 33 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fif teenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 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
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