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Vol. 6 No. 32 Des Moines, Jowa “Market W ill Determine Safe Banking” In a speech before the 63rd annual Fall Conference o f The Robert Morris Associates, New York, E llm ore C. P a tterson , chairman, Morgan Guaranty Trust Company o f New York, gave these views on safe banking: Problem loans are not yet obsolete as a topic in banker conversations. They never will be. But they, and the strains they put on the banking system of this country during the recession of 1973-75, are not in my judgment the main cause for concern in banking today. M uch more threatening, I believe, is the reaction of some legislators and others in the aftermath of banking’s difficulties during recent years. I do not mean to minimize the reality or the gravity of those difficulties when I say that the reaction is out of proportion, and that it is misdirec ted. It focuses on a few isolated cases, admittedly spectacular but in no way representative, and uses them as a basis for proposing that severe new restrictions should be placed on banking. Those who are reacting in this way believe there should be a slowing-down, or even a reversal, of the progress banking has made in broadening its service to business and the consumer. Not surpris ingly, they are getting encourage ment and support from some who don’t enjoy the competition which a more vigorous banking industry E. C. PATTERSON has brought to the marketplace for certain financial services. Safe Banking The rhetoric of the campaign for more restriction is illustrated by the name given a bill introduced in the House of Representatives last month. The sponsors labeled it the Safe Banking Act of 1977. That may be skillful semantics, but word-play doesn’t make for sound legislation. The bill, especially in its original form, appeared to be addressed more to last month’s headlines than to any real problems, current or prospective. Fortunately, it did not receive broad support. I mention it only because it is a symptom of the D ecem b er5,1977 restless urge which some legislators feel to put more restrictions on banking. Of course no one is against safe banking. Of course we should do whatever we can to prevent the occurrence of another U.S. Na tional of San Diego or another Franklin National. Of course we should do whatever we can to avoid another year in which the U.S. banking system has net loan losses of three and a quarter billion dollars. There is no argument about these objectives. The argument which I see shaping up is going to be about how to achieve them. From those who hold that more regulation is the answer, there will be further proposals to limit certain kinds of lending, to impose additional ratio requirements, to cut back even further the latitude allowed bank holding companies, to curb interna tional activities. No Guarantee No such measures, however strict they might be, would provide a guarantee against bank failures. Mismanagement, fraud, embezzle ment still could bring a bank down. No such measures would prevent some good loans from going bad, especially at a time of serious recession.________________________ SAFE B A N K IN G .......................... (Turn to page 4 please) 40 IOWA BANKS—OW NERS OF THE IOWA NEW OUTLOOKS ASSOCIATION INVITE YOU TO ENJOY MORE CHECKINGACCOUNTGROWTH TH R O U G H TH E NEW OUTLOOKS C L U B -A M E R IC A ’S MOST SUCCESSFUL MOST PROFITABLE PACKAGE CHECKING PROGRAM. CALL THE IOWA NEW OUTLOOKS ASSOCIATION: 515/382-5363 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Gary Stevenson Your Man on the First Team. 712/277-1500 GARY STEVENSON Vice President First National Bank m Sioux City • A ‘BANKS OF IOWA’ BANK Iowa News AM ES: B. Larry Johnson has joined University Bank and Trust Company as vice president and assistant trust officer. Mr. John son, who previously was in the trust department at Guaranty Bank and Trust in Cedar Rapids, will be responsible for the bank’s downtown office and will assist in the trust department. ATLANTIC: Pat Butler has been prom oted to head teller and assistant cashier of the First Whitney Bank & Trust. CEDAR RAPIDS: Chuck Cebuhar, president of United State Bank, has announced the promotions of Robert R. Leinart to assistant vice president, Louise Swartz to opera tions officer, and Sue Wilson to loan services officer. Call your roving correspondent at Bankers Trust D ALLAS CENTER: Mike Hunter has been elected assistant vice president and Bemiece Chartier assistant cashier of Brenton State Bank. Mr. Hunter joined the bank in 1973 and Mrs. Chartier in 1959. EVANSDALE: The First National Bank of Evansdale has changed its name to Evansdale State Bank. HAMPTON: David G. McQuown has been appointed assistant vice president of the First National Bank. He has been with the Federal Reserve Bank in Chicago for the past four years as a bank examiner. WATERLOO: Peoples Bank and Trust Company has announced the following promotions: Elaine A. Perry to assistant cashier and assistant manager of the Kimball Avenue Office and Charles E . Laipple to assistant cashier and instalment loan officer. Nebraska News BEATRICE: Linda Pinkerton has been named auditor of the Beatrice National Bank. Use our to ll-fre e WATS line: 8 00 -3 6 2-1 6 8 8 M em ber: F.D.I.C ./Federal Reserve System https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OM AHA: Michael B. Yanney has resigned as executive vice president of The Omaha National Bank, effective January 2, 1978. Mr. Yanney, 43, said he plans to pursue personal business interests and will continue to live in Omaha. He joined the bank in 1961. He was promoted to senior vice president of the bank’s holding company, the Omaha National Corporation in 1973 and later became executive vice president and corporate chief of staff. For the last 18 months he has served as executive vice president of the bank and head of the administrative services divi sion. Illinois News BOLINGBROOK: A permit to organize has been issued to the Bolingbrook-Romeoville Bank at the southeast comer of 107th Street and North-South Drive. The state ban k ’ s tota l capitalization o f $1,800,000 will consist of $720,000 in both capital and surplus and $360,000 in reserve. The 72,000 shares will have a par value of $10 each. Organizers are: Paul Carson, Jr., Hinsdale; Gurrie C. Rhoads, W estern S prings; Thom as E. Culligan, Naperville; Lloyd R. Eichelberger, Lemont, and Jerome P. Niemiec, Frankfort. CHICAGO: A permit to organize has been issued to the Brickyard Bank in The Brickyard Shopping Center, S.W . comer of Diversey and Narragansett. The state bank’s total capitalization of $2 million will consist of $1 million in capital, $600,000 in surplus and $400,000 in reserve. Organizers are: Sam J. Mulay, Chicago; Edgar L. Cadden, Glencoe; Albert I. Rubenstein, Highland Park; David E. Malfar, Skokie, and Ronald J. Guild, Wheaton. MATTESON: Matteson-Richton Bank has received consent to establish a facility at the northwest comer of Sauk Trailand Governors Highway in Richton Park. NEW LENOX: Hickory Creek B ank’ s application for federal deposit insurance has been ap proved. The bank’s capital ac counts total $1,250,000. Carleton D.Beii Co . INVESTMENT SECURITIES DES M O IN ES B U IL D IN G TELEPHO NE 203*2152 A R E A C O D E 515 D E S M O IN E S flO W A MOODY’S: $1,200,000 MILFORD, IOWA Electric Revenue Bonds Series 1977 a Dated: * “A” December 1,1977 Denomination: $5,000 Both principal and semiannual interest (June 1 and December 1, first coupon due June 1,1978) payable at the office of the City Treasurer, Milford, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES, IOWA FRANCHISE TAX AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. MATURITIES w 5.00% $ 35,000 June 1,1978 50,000 June 1,1979 50,000 June 1,1980 55,000 June 1,1981 55,000 June 1,1982 60,000 June 1,1983 60,000 June 1,1984 65,000 June 1,1985 4.70% 70,000 June 1,1986 70,000 June 1,1987 ■§ m • 4.80% $ 75,000 June 1,1988* 4.90% 80,000 June 1,1989* 5.00% 85,000 J une 1,1990* 5.10% 90,000 June 1,1991* 5.20% 95,000 June 1,1992* 5.25% 100.000 J une 1,1993* 5.30% 105.000 June 1,1994* 3.90 4.00 4.10 4.20 4.30 4.40 4.50 4.60 4.65 4.70 4.80 4.90 5.00 5.10 5.20 5.25 5.30 1987 at 100% *Optional in inverse order beginning June 1, LEGALITY TO BE APPROVED BY HERRICK, LANGDON, BELIN, HARRIS, LANGDON & HELMICK, ATTORNEYS, DES MOINES, IOWA # Milford is located in Dickinson County in northwest Iowa. This progressive community with a 1975 Census of 1,744 is one of the important trading centers of northwestern Iowa, serving the surrounding prosperous agricultural area. Transportation facilities are furnished by the Chicago, Milwaukee, St. Paul & Pacific Railroad, U.S. highway No. 71 and an excellent network of paved county roads. Commercial airline service is available in nearby Spencer. Banking deposits within the community have grown steadily with deposits during 1976 exceeding $10,918,000, supporting retail sales activity of $7,775,000. The leading employer within the City is Style-Craft, Inc., a manufacturer of upholstered furniture employing approximately 60 persons. ® ^ These bonds are being issued under the provisions of Chapter 384, Code of Iowa, 1977, as amended. The proceeds of this issue will be used to defray the costs of constructing the utility’s .347% undivided interest in Unit No. 4 at the George Neal Generating Station, a 576 megawatt coal-fired unit under construction and currently owned as tenants in common by three investor-owned utilities, two electric cooperatives and eight municipal electric systems (including the Milford Municipal Electric Utility). In the opinion of counsel, these bonds are legal and binding obligations of Milford, Iowa, payable from the future net revenues of the municipal electric light and power plant. The systerri presently has 886 connected customers. Rates were increased by about 24% in November, 1977 to provide better ™ coverage for this issue. # Gross revenues Expenses Net revenues E A R N IN G S 1977 Pro-forma* $356,735 164,246 $192,489 1977 Actual 289,594 162,454 127.140 1976 Actual 257,525 130.173 127.352 *as if new rates had been in effect # W COVERAGES (both Issues, based on 1977 pro-forma net revenues) Average principal and interest $108,779 Coverage of average requirement 1.77X 0 Maximum principal and interest Coverage of maximum requirement $111,815 1.72X We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion. The information contained in this circular is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds was based. Offered subject to prior sale and change in price. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis SH O R E W O O D : The H eritage B ank’ s application for federal deposit insurance has- been ap proved. The bank’s capital ac counts total $1,250,000. Minnesota News B EN SO N : A n application b y Benson B ancshares, In c ., for approval to acquire 88 % or more of the voting shares of Swift County Bank has been approved. C O L U M B IA H E IG H T S : The Marquette State Bank has annouced the election of William A. Laing as president. He succeeds Karl D. Stotesbery who resigned to pursue private business interests. Mr. Laing joined the bank in 1974 and was elected executive vice president in 1975. Colorado News D E N V E R : N ortheast Colorado National Bank has announced the prom otions o f Jack T odd to operations officer, M yma Libbey to customer services officer, and John D. Diedrich to loan officer in charge of the instalment loan department. GRAND JUNCTION: Roger L. Martin has been elected vice president and manager of the instalment loan department of the United States Bank. SOUTHGLENN: Kirk Reed has been promoted to instalment loan officer at the First National Bank. Wyoming News CASPER: Charles J. (Tim) Peyton has been named auditor and com pliance officer for H illtop National Bank. CHEYENNE: Richard Fleck has been appointed cashier of the newly-opened Equality State Bank at 19th and Pioneer Ave. He has six years of banking experience. LUSK: Lee Denny is the new agricultural representative of the First Wyoming Bank. For the past three years he has been ranching in the Rawhide-Buttes area. POWELL: Jim Johnson has joined the First National Bank as vice president, commercial loan depart ment. He came to Powell from the Ames Bank in Omaha, Nebr. South Dakota News RAPID CITY: Funeral services were held recently for Harry J. Devereaux, retired Rapid City banker and businessman. Mr. Devereaux, 88, was one of the organizers of Rapid City National Bank in 1934 and served as an officer of the bank for many years. SAFE B A N K IN G .......................... (Continued from page 1) What the application of such restrictive measures would do is severely limit the flow of needed financial services, especially credit, to the economy. In an extreme form, such measures could throw banking back into something like the paralysis of the ‘thirties, when confusion and timidity in the financial sector were among the factors that retarded economic recovery. What can we bankers offer as a constructive alternative? We don’t have to invent one. It already exists and has demonstrated its effectiveness in promoting sound banking practice. It has been a powerful force contributing to the considerable im provem ent that already has occurred in the condition of the banking system. The alternative to more regula tion is the oldest and most obvious of economic forces — the working of the marketplace. It already has motivated banks to do the three things most essential to curing ills that were caused or aggravated by the recession — namely, manage J im is read y to h e lp yo u . As our new associate in the correspondent bank de partment, Jim Eick will show you that we do your kind of banking. j I rririlTri. CAPITOLCITYBATIK Des Moines' second largest independent bank. Main Bank East Fifth and Locust 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 515/244-5111 For # Northwestern’s World of Service t Jerry Just N orthwestern Bank Of Sioux City ____ An Affiliate of Nor thwest Bancorporation Banco their liabilities more conserva tively, upgrade the quality of their assets, and restore the strength of their capital positions. I believe that those who are urg ing tighter restrictions on banks fail to recognize the degree to which the banking system has worked out of its problems. I believe also that they don’t realize how much market forces have had to do with that recovery. Market Function Let’s examine how the impera tives of the market work to police bank performance. A bank’s ability to function depends on the willingness of depositors, buyers of CDs, other banks, debenture holders, or whomever, to accept its liabilities, and on the willingness of equity investors to provide capital. In short, it must meet the market test imposed by the sources of funds. Up to the maximum amount covered by deposit insurance, the market test applied by depositors probably relates mostly to quality of service, interest rate in the case of time deposits, and convenience of location. When it comes to uninsured funds, safety is at the top of the list. The market’s w illingness to hold a ban k ’ s liabilities depends directly on confidence in the bank’s ability to redeem those liabilities on the specified terms. Those market judgments sent clear signals to bank managements, and managements responded. Even in more normal times, the sources on which banks depend for funds conduct a continuing appraisal of ë i ANNOUNCING.... DEAL FOR BANKERS LEASE YOUR DANK EQUIPMENT COMPUTERS TYPEWRITERS FURNITURE VAULTS FIXTURES SIGNS TELLERS EQUIPMENT TERMINALS AUTOMOBILES WHY LEASE? CAPITAL EXPENDITURES HOLDS LENDING CAPACITIES D O W N . THE SMALLER THE BANK, THE M ORE IT HURTS. ACQUIRE THE USE O F THE EQUIPMENT N O W AN D OWNERSHIP LATER, AN D LEASE PAYMENTS ARE FULLY DEDUCTIBLE. S o m e b o n k s o re c o n s id e rin g selling all o f th e ir p re s e n t e q u ip m e n t to a le a s in g c o m p a n y a n d th e n le a s in g it b o c k in o rd e r to k e e p c a p ita l a n d surplus o t o m a x im u m . AN D IT'S A LL Q UITE SIM PLE. . . Y ou s e le c t th e e q u ip m e n t a n d w e w ill structure a competitive made d e a l w ith te rm s ra n g in g fro m 2 4 to 9 6 m o n th s. THE D EA L LET'S Y O U SET THE RATE BY PARTICIPATING IN PART O F THE FUNDING IF Y O U W AN T T O . CU P THE CO U PO N & MAIL TO: F.LS.Lease Plan, Inc. 5 4 5 - 3 1 st Street D es M o ines, Io w a 5 0 3 1 2 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I want to know more about a tailor Deal. W e ore considering e q u ip m e n t costing a p p ro x im a te ly $ T yp e o f F q u ip m e n tRANK NAMF CITY TFI FPHONF CONTACT _________________________ _____________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • . m # Call and find out whot's new. ■■■■ÆwSëM ■ Merchants IIi B National Bank 151 jf if c 3 a S A F E B A N K I N G ............................... the institutions competing for their money. They analyze a bank’s liability structure, the maturity patterns of its time deposits, the degree to which it relies on any one sector of the money market. They look at a bank’s profitability, which is the first line of defense against Cedar Rapids. Iowa 52401 A ‘BANKS OF IOWA' BANK loan losses and the principal source of additions to capital. They pay close attention to capital strength, relating it both to liabilities and to the composition and quality of assets. The equity market also exerts a discipline. Investors look at banks, and at the bank components of Bernie Miller, one of our Men of Opportunity ÇTa American Trust 0 I K , Savings DanK Town Clock Plaza, Dubuque, Iowa Member: FDIC & Federal Reserve System bank holding companies, in a som ewhat different w ay from depositors. Also, their judgments — and the prices which reflect them — are influenced by such broader considerations as their view of the general state o f the economy and the relative attractiveness o f one industry compared with another. Within that framework, however, investors are constantly grading individual institution s on the quality and stability of their earnings, the quality of their assets, the adequacy of their tions Workshop, Hyatt Regency, Hou capital, and the ability of their ston, Tex. Feb. 15-16—BMA How To Compete with management. Convention Calendar ABA—American Bankers Association AIB—American Institute of Banking BAI— Bank Administration Institute BMA— Bank Marketing Association IBAA—Independent Bankers Association of America. NABW— National Association of Bank Women, Inc. RM A— Robert Morris Associates # 0 . Phone 319582-1841 collect Terry Martin Vice President ® . f r 53* # • Serving you meons keeping abreast of changing opportunities so you won't hove to. Call me to ll fre e 800-332-5991 A good correspondent bank relationship is still built by good people. Yours and ours. Jan. 8-11— RMA Credit Department Man agement Workshop, Hilton Inn, Dallas. Jan. 17— BAI Data Processing Case Study Workshop, San Francisco. Jan. 17-19— BAI Bank Planning Con ference, University of Southern Califor nia, Los Angeles. Jan. 30-31 — BMA Basic Advertising Workshop, Los Angeles, Bonaventure. Feb. 1-2— BMA Basic Advertising Work shop, Dallas Marriott. Feb. 5-8—ABA National Trust Conference, Waldorf Astoria Hotel, New York. a Feb. 5-17— ABA N ational Instalm ent m Credit School 1st Sessions, University of Oklahoma, Norman. Feb. 8-9— BMA Basic Advertising Work shop, Hyatt Regency, Atlanta. Feb. 8-10—ABA Bank Investments Cona ference, Fairmont Hotel, Dallas. w Feb. 8-10—American Management Associ ation Human Resources Conference, Palmer House Hotel, Chicago. Feb. 12-15—ABA Conference for Branch Administrators, Royal Sonesta Hotel, a New Orleans. v Feb. 12-15—ABA Bank Telecommunica https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Other Financial Institutions Seminar, Hyatt Regency, Chicago O’Hare. Feb. 19-22— BMA Chief Executive Officers of Community Banks Seminar, Innisbrook Tarpon Springs, Fla. Feb. 26-28—ABA Senior Bank Manage ment Seminar, Brownsville, Tex. Feb. 26-March 1— BMA EFT Marketing Conference, New Orleans, Marriott. Feb. 16-March 1— RMA Financial State ment Analysis, Olympic Hotel, Seattle. Feb. 26-Mar. 3— ABA Community Bank Chief Executive Officer Program, Sand piper Bay, Port St. Lucie, Fla. Feb. 26-March 3—ABA National Personnel School, Denver Marriott, Denver, Colo. March. 5-7—ABA 30th Annual National Credit Conference, Hyatt Regency, New Orleans. March 5-9— IBAA 48th Annual Convention, Diplomat Resort and Country Clubs, Hollywood, Fla. Mar. 12-15— BMA Public Relations Con ference, Atlanta Hilton. March 14-18— BMA Essentials of Bank Marketing Midwest Extension, Univer sity of Chicago. Mar. 19-22— BAI 9th Annual National Conference on Bank Security, Diplomat Hotel, Hollywood, Fla. March 19-23—ABA Trust Operations and Automation Workshop, St. Francis Hotel, San Francisco. March 19-24— Graduate School of Bank M arketing, Second S ession, New Orleans. Pressure On Banks This surveillance keeps a con tinuing pressure on banks to meet the market’s test. Whether or not it contem plates raising additional capital through the sale of equity, the management of a bank or a bank holding company is neces- Our com puter capabilities give you a lot of help for your m oney. Dorothea Wolfe nesjvioines NATIONAL BANK Member FDIC An Affiliate of Northwest Bancorporatioh Banco CALL ON THE “PERFORMANCE TEAM” where com m on transactions are handled uncomm only well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.Î.C. sarily mindful o f the highly visible rating given to the institution by the collective judgment of inves tors. There is yet another way in which market pressures exert a discipline on banks. Bank customers know that capital is the base for growth in liabilities, assets, and earnings. Customers concerned about de pendable future access to credit look to capital strength when they’re choosing the bank that will get their business. The adequacy of bank capital is a subject for open-ended debate. There is no set yardstick. What looked thin in 1975 may look quite comfortable today. Each case is individual. That is why the signals given by the market are so important and so useful. WANT ADS Rates 40 cents per word per insertion. Minimum: 12 words NORTHWESTERN BANKER 30615th S t., Des M oines, Iowa LEASE OR SALE Microfilm Lamps NO. FCS No. FCS Lots of: 6-47 48-95 96-UP G.E. & Svi. Norelco $4.29 $3.25 3.63 3.00 3.43 2.95 W e prepay any shipm ent over $100.00 net. M in im um order, $25.00 net. W rite for special prices on other lam ps. Your satisfaction guar anteed. Please save for future reference. Siller’s s u p p l i e s , i n c . P .O . Box 10-Z 702 E. W ashington St. W ashin gton , Iow a 52353 Ph. 319-653-2123 POSITION WANTED Bank officer, 28, college graduate with 4 1/2 years Instalment lending experience as #2 in department desires similar position with future. Write Box AAQ c /o NORTHWESTERN BANKER, 306 15th St., Des Moines, Iowa 50309. 14’ x 60’ preconstructed commercial bank bldg., equipped with drive-up window, inside tellers, depository, currency chest, and desk. Also 4 different types of constructed buildings available in various sizes. SON CORPORATION, Box 684, Wichita, KS 67201 - 316/942-8167. BANKERS PERSONNEL SEARCH, INC. 321 Stephens Building Des Moines, Iowa 50309 515/282-4446 or 515/961-5419 Harriette Allison, President Employer Paid Fee Confidential Bank Personnel Only LET US SELL YOUR BANK SPECIALISTS IN VALUING & SELLING BANKS SINCE 1959. FORMER BANK EXAMINER & BANKER. Ray E. Reents, 2730 S. 62704. FOR LEASE Fully equipped, 1000 sq. ft. double-wide trailer for aux. banking facility. Has 2 officer, 2 restrooms, night depository, drive-in window, coin chests, coin counter and wrapper, camera and alarm system, and much more. Available within 30 days. Contact Bob Blank, Cornhusker Bank of Omaha, 90th & Bedford, Omaha, Nebraska - 402-571-2300. MacArthur, Springfield, III. POSITION AVAILABLE Up and coming, aggressive graduate seeking a training position in a Commercial Loan Department in Central Minnesota Bank; previous experience desired. Contact File No. AAS, c /o NORTHWEST ERN BANKER, 306 15th S t., Des Moines, IA 50309. WANTED AUDITOR POSITION AVAILABLE Three Burroughs Financial Calculators. Contact George Urbanek, Stockgrowers State Bank, Worland Wyoming 82401. Phone: 307-347-4241. Fine opportunity with $80MM Iowa bank. Need 5 years experience from at least $30MM bank. Salary open. Good benefits. Please send resume: Box AET, c /o Northwestern Banker, 306 15th St. Des Moines, IA 50309. SERVING PROFESSIONALLY W A N T E D TO B UY Addressograph and Graphotype equipment. Write P.O. Box 607, Boone, Iowa 50036. WANTED Burroughs F 6200 Sensi-Matic posting machine. Contact John E. Dencklau, Farmers Savings Bank, Vincent, IA. 50594. Ph.515-356-4155. Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 204 Securities Bldg. 515— 283-2545 Des Moines, Iowa 50309 BANKERS PARTICIPATING ¿ g a A e P titH by 3nM ii€<¿ ^ehwiceb, 3 n c . 545 - 31 st Street Des Moines, Iowa 50312 R.L. "DICK” S E LL O N **P .D . "DUANE” DEVAULT FOR SALE CAREER SALES OPPORTUNITY Leading life in su rance com pany, m ark e tin g insurance exclusively through lending institutions, seeks applicants who possess ability to work with financial institutions as well as their customers. Previous insurance sales experience valuable but not required. Several territories now open in Minnesota, Wisconsin, Iowa, and the Dakotas. Unlimited earning potential with first year income in the $14-20,000 range. Car furnished for qualifiers plus full employee benefit package. Write Roland Allen, Vice President, North Central Life Insurance Co., 275 East 4th Street, St. Paul, MN. 55101. NCR class 33 typewriter accounting (Posting) machine, and six foot Mosler electric drive-up teller window under maintenance. Contact Burt Cross, Camanche State Bank, Camanche, Iowa. Phone: 319-259-8371. POSITIONS AVAILABLE Call on us! pgiSP wmBNMj AG LENDING— good background in farm and agri business loans. Extensive travel; Rocky Mountain a r e a ............................$18-$22,000 OPERATIONS— rural bank of $15MM close to metro area. Handle internal operations and regulatory reports.................................... $16,000 SENIOR CREDIT ANALYST— large Colorado bank. Must be able to supervise and have previous exp e rien ce w ith m ajor credits........................................................ $18-$20,000 CASHIER— $25MM bank in Missouri. Handle personnel and some platform duties. Could lead to #2 position............................... $16,000 C .E .O .— sm all new ch a rte r in Rocky Mountain area. Good lending including ag experience. Excellent opportunity for growth................................................................ $15,000 Correspondent Bank Department Please call or write to inquire about the above or other available positions. Linda Blue Smith, President. OPERATIONS /CASHIER POSITION Opportunity for experienced person with $75MM Iowa bank. No lending responsibility. Salary and benefits good. Please send resume: Box ABC, c /o Northwestern Banker, 306 15th St. Des Moines, IA 50309. Toll free 800-362-1615 M __ Central National Bank 6- Trust Company DES MO INES, IOWA AFFILIATED WITH CENTRAL NATIONAL BANCSHARES, INC. J lilt k lJ r EDDIE A. WOLF WILLIAM B. GREAVES RICHARD BRO RAYMOND SCHNEIDER TOM HAGAN & ASSOCIATES Box 12346 — 208 E. 18th Ave. N .K .C ., M O 64116816/474-6874 “ IT TAKES A BANKER TO KNOW ONE” Voi. 6 No. 32 Northwestern Banker Newsletter is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8 per year. Second class postage paid at Des Moines, Iowa. Address ali 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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