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P\ * ri Vol. 9 No. 33 Des Moines, Iowa 1RS Rulings Concern Bankers WO proposed rulings by the T Internal Revenue Service are being hotly contested by bank •v * December8,1980 stockholders and farmers, espe cially in the midwest where so many one bank holding companies have been formed and where big farm ownership is concentrated. H. C. Ruling One proposed IRS ruling could have disastrous consequences for bank stockholders involved in formation of one-bank holding companies where debt was assumed by the holding company during the past three years and could severely inhibit or completely eliminate their future formation. The proposed ruling has not yet been published but attorneys, bankers and tax practitioners are concerned about its extreme tax effects. Apparently, the ruling would say that earnings and profits of the bank and holding company would be combined so that at the time of distribution to the holding company, stockholders would find this treated as a distribution of dividends on earnings and taxed accordingly. It further appears this proposed ruling could have retroactive effect to the past three years and could expose bank stockholders to severe taxation as individuals. Interested parties are trying to point out to the IRS the disastrous consequences of this ruling, which is a significant departure from past litigation and rulings. Although they feel the ruling of itself is not legal and unfair, opponents say that if IRS must publish the ruling it should eliminate the retroactive clause. IRS issues two kinds of revenue rulings. One is a private letter ruling which reflects what the IRS is willing to adopt as an “audit position,” based on facts submit ted. The letter ruling affects only the party involved and cannot be adopted necessarily by others. In practice, however, IRS issued the same letter ruling to all applicants intending to form one-bank holding companies. Eventually, this became such a routine acceptance that a number of such applications of the Fed did not bother obtaining an individual letter ruling. The second ruling is a Public Ruling or Revenue Ruling, one on which all parties can rely if their facts agree with those set out in the ruling. Early in 1980, IRS decided to stop issuing the letter ruling saying whether it would favorably or not favorably review the tax free transfer under a one-bank holding company form ation. I t issued Revenue Rulings 80-239 and 80-240, with Revenue Procedure 80-34 setting forth how a bank could be placed in a one-bank holding company without tax consequences. This Procedure requires, among other things, that a third party lender who puts up the money in a purchase deal must agree that he will look to the holding company for repayment of the debt. In addition, the whole transaciton must be completed in 12 months. Prior to 80-240, no capital gains tax was applied. Now, 80-240 clarifies when capital gains tax could be applied. However, more than 12 months have been required in many cases for such formation by following Federal Reserve Board regulations which govern holding companies. Attor neys, ABA and tax professionals had hoped to focus IRS attention on these exception cases, then they learned of the new proposed ruling which would cause bank stockhol ders the most trouble. The intense hassle continues in Washington this week and there is no way of knowing at this point CALL ON THE “PERFORMANCE TEA M ” Pf, ► where common transactions K A T https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis are handled uncommonly well. IIIHmHIII FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. Don't gam ble w hen choosing a correspondent bonk. Com e to the professionals. “C ” Central National Bank & Trust Company DES MOINES • MEMBER FDIC TOLL FREE NUMBER (800) 362-1615 whether IRS will withdraw its proposed ruling, temper it, or put it into full force. Farm Purchase Ruling A second proposed IRS ruling, which strikes at the heart and soul of midwest agriculture, is one that only forces a higher rate of interest to be charged on father-son loans for farm purchase, but discriminates by authorizing lower interest rates for non-family members. Jim Leach, Iowa Congressman for the First District, outlined the problem in a recent letter to constituents: “For generations, parents and grandparents in rural Iowa have given their children a start in farming by providing them loans and contracts on farm land at interest rates an individual just sta rtin g a crop or livestock operation could afford. The burden of estate and gift taxes has made this the most practical means of passing a farm from parent to child.” “Under the old rules, the IRS would not challenge these transac tions as long as the loan was made at "Opportunity Colls..." Leo Kane, Correspondent Danker American Trust & Savings Donk The Dank of Opportunity Town Clock Ploza. Dubuque, low o CALL 319-562.1841. COLLECT https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Single System Banking NOW ACCOUNTS Now! Bank Data Processing Professionals N ational Bank o f W aterloo Waterloo, Iowa 50704 Member FDIC Phone Max Cory at 1-800-772-2411. an interest rate of at least six percent. Under the proposed new regulations, in many cases any interest rate under 11% will be disqualified unless the seller can show the rate was arrived at through an “arms length” negotia tion. A 12% rate will be imputed on those sales the IRS disqualifies. “To add insult to the injury caused by the imposition of this higher interest rate on transactions between family members, “arms length” transactions between non family members will not be scrutinized unless they involve an interest rate below 9% . Further, only a 10% rate will be imputed on those non-family deals the IRS disqualifies.” “This is patently unfair and I have filed a formal objection to these proposed changed in the regulations with the IRS.” □ relative to alternative investments is not very favorable at this juncture,” Mr. Brinson said, noting that the outlook is for stock prices to drop by 10 % or more over the next several months. Long-term bond yields are expected to decline in 1981, he noted, as the pressures to control inflation begin to be* felt. Yields will still be at near-recordhigh levels of 10.5% in government bonds, but declines in these rates will bring about approximately 15 % in price appreciation. “When coupled with the current yield of over 12% ,” Mr. Brinson continued, “this combination pro duces a total return of over 27 % . in fact, we believe that there is a fair chance that the total return from bonds between now and late 1981 may exceed 30% .” First of Chicago Predictions BELLE PLAINE: Roger Severson has joined the staff of the Citizens State Bank as a farm agriculture Nearly one-half of the 660 bankers attending the First National Bank of Chicago’s annual correspondent bank conference recently predicted the prime rate to be in the area of 10 to 12 per cent by this time next year. The poll showed that 48 per cent favored the 10-12 range; 40 per cent thought it would be 12 per cent to 14 per cent, and nine per cent felt the prime would be above 14 per cent. Despite the fact that 67 per cent predicted better general business conditions next year, about 47 per cent believed the unemployment rate to be seven to eight per cent in 1981. In the area of inflation, 56 per cent predicted that at the end of 1981, the rate would range from 8 to 10 per cent and another 42 per cent thought it would be higher. Gary P. Brinson, chief invest ment officer of FNB, warned that the stock market seems to be “underestimating” the risks asociated with the government’s new mandate to control inflation. “Our forecasted return for stocks Iowa News Grow with a BANKERS’ BANKER Call 1-800-362-1688, toll-free in Iowa 3 Carleton D. Beh Co. Investment Bankers/Financial Consultants NEW ISSUE SALE DATE: November 18,1980 $825,000 MILWAUKEE, WISCONSIN MOODY’S: Aa S&P: AAA General Obligation Corporate Purpose Bonds Public improvement, Series BG Dated: December 15,1980 Denomination: $5,000 Both principal and semiannual interest (June 15 and December 15, first coupon due on June 15,1981) payable at the office of the City Treasurer, Milwaukee, Wisconsin; or at the Chase Manhattan Bank, N.A., New York, New York. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITY $825,000 8.50% December 15,1994* to yield 8.50 *Optional in inverse numerical order beginning December 15, 1990, at 100%. LEGALITY TO BE APPROVED BY WOOD AND DAWSON, ATTORNEYS, NEW YORK, NEW YORK The City of Milwaukee is situated at the confluence of the Milwaukee, Menomonee and Kinnickinnic Rivers which, combined with a deep water bay, provides a key site in which to live and work. Milwaukee is the principal manufacturing, trade, service and financial center of the sprawling southeastern Wisconsin economic area. The City of Milwaukee is the third largest city in the north central United States and consists of Milwaukee, Waukesha, Ozaukee and Washington Counties. As an established industrial city, Milwaukee has built up over the years a reputation as a major manufacturing center, particularly as a world leader in capital equipment production. Some of the major employers in the City are: Allen-Bradley Co.; A.O. Smith Corp.; Rexnord; Kohl’s Food/Department Stores; and Falk Corp. Favorably situated near both the demographic and population centers of the nation, Milwaukee is a natural marketing hub for the entire country. The Port of Milwaukee provides excellent access to the sea lanes of the world. General Mitchell Field is served by domestic and international airlines. Five rail lines serve the City and provide transportation links throughout the U.S. The City is tied into the Interstate highway network through relatively new highways and expressways. These bonds are being issued in accordance with Wisconsin Statutes and the proceeds are to be used to fund various projects within the City. In the opinion of counsel, these bonds are legal and binding general obligations of the City of Milwaukee, Wisconsin, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal of and interest on the bonds without limit as to rate or amount. FINANCIAL STATEMENT Equalized value taxable property, 1979 Assessed value taxable property, 1979 $9,345,783,500 7,789,445,760 Direct debt, including this issue Total direct and overlapping debt 174,144,600 281,406,938 Population, 1980 estimate: 633,000 Direct debt per capita: $275.11 Total debt per capita: 444.56 Tax collections have approximated 99.53% of taxes levied for the past five years. We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: The information contained herein is not guaranteed, but is derived from sources we deem reliableand is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not s till be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 officer. He is a graduate of Iowa State University, majoring in ag business. CHEROKEE: The Federal Reserve Bank of Chicago has approved the application of Central Trust Invest ment Inc. to become a bank holding company by acquiring Central Trust and Savings Bank. CONRAD: First State Bank will be holding an open house December 15 from 5:30 p.m. to 8:30 p.m. at the new bank facilities at 120 West Center Street. DES MOINES: For the first time in its 3x/2 year existence, over 500,000 consumer banking transactions have been made in one month through terminals connected to Iowa’s “Convenient Banking” Sys tem. Total October transactions were set at 503,713, topping the previous high of 491,315 set in August. The Iowa Transfer Sys tem’s Switch processed 163,327 “shared” transactions (those in which one bank’s customer uses another bank’s terminal) in Octo ber. This figure compares to just over 100,000 shared transactions in January, 1980. DES MOINES: Acquisition of Capital City St. Bk. by Hawkeye Bancorporation has been approved by the Federal Reserve Board. The acquisition brings Hawkeye’s total assets to $1.1 billion. Hawkeye owns another Des Moines bank, First Federal State Bank, which it has said will be run independently of Capital City. Hawkeye said that Larry Wenzl, president of First Federal, will become president of Capital City Jan. 1, succeeding Jack Moors, who came to Capital City from Lincoln, Neb. in 1978. He returns to Lincoln as chairman of the Citizens State Bank, there. Charles Gustaveson, president of First National Bank, Clinton, a Hawkeye bank, succeeds Wenzl as president of First Federal. Gill our Bond Department " For up-to-the-minute, accurate information GUTHRIE CENTER: Del Wedemeyer, assistant vice president, Guthrie County State Bank, was the winner of a deluxe camera outfit in a draw ing conducted by Collateral Control Corp. during the recent ABA Ag Bankers Conference in Dallas. NEWELL: The First National Bank has elected Jerold Sievers to complete an unexpired term on the board. Mr. Sievers was elected to fill the term of Dr. C.E. Sundberg who has resigned his board position with the bank last month. Dr. Sundberg has served as a director of the bank for over 21 years. POSTVILLE: LaVem E. Stumme has been elected to the board of Citizens State Bank. Mr. Stumme takes the place on the board vacated by the death of John Falb, Jr. Mr. Falb had served on the board for nearly 17 years. SIOUX FALLS: Citicorp, (New York), has received approval from Comptroller John G. Heimann to charter a national banking associa tion to be known as Citibank (South Dakota), N.A., located here. The bank chartering is part of Citicorp’s plan to move headquarters of its nationwide credit card operations from upper New York State to South Dakota, which has a usury rate of 24% on the first $500 of credit charges and 18% on the remainder. New York’s limitation is 18 % on the first $500 of credit card loans and 12 % on the balance. The move could provide up to 2,500 new jobs if the credit card center is moved to South Dakota. Under the charter application approved, “some commercial business may be transferred to the new entity. In addition, other personal loan business outside the Sioux Falls area of the type currently booked in Citicorp’s non-bank subsidiaries may be conducted by the proposed subsidiary,” stated the Comp troller. WEST LIBERTY: Open house will be held for the public by the West Liberty State Bank in its new building on December 14 from 1:00 to 5:00 p.m ., according to Robert T. Rehmke, president. Minnesota News The Minnesota Chapter of the Bank Marketing Association is sponsoring the workshop “How to Cross-Sell Your Products.” This workshop is for small and medium size banks who want their tellers and new account representatives to learn cross-selling and referral techniques. The speaker is Robert J. Moustakis, the director of B .M.A .’s Training and Professional Develop ment Department. The workshop is December 11, 1980, from 8:30 a.m. to 11:45 a.m. at the Marriott Hotel, Bloomington, Minn. Contact Ms. Elizabeth H. Bennett, Northwest B ankcorporation, for arran g e ments. ALDEN: The First National Bank has changed its name to Americana State Bank due to the bank changing its charter from a national charter to a state charter. DANUBE: The State Bank has been purchased by E.E. “Ray” B entdahl of M inneapolis and Roland J. Hoffert of Clear Lake, S.D. It was purchased from Wayne Kircher and his family. The bank’s board of directors, following the change of ownership, consists of Mr. Bentdahl, Mr. Hoffert and Delbert W. Gonnerman, president of the Clara City State Bank. Following Mr. Kircher’s resignation as bank president, Mr. Bentdahl was elected chairman and vice president, Mr. Hoffert was elected president and Michael Palmer was named loan officer. GROVE CITY: R.D. Peterson, president of the First State Bank, has announced that construction Tom Steffens John Henderson Tony Paugoulatos Jim McLaughlin V ic e P re sid e n t 234-2462 V ic e P re sid e n t 234-2463 A s s t.V ic e P re s id e n t A sst.V ice P re sid e n t B on d O ffic e r 234-2647 234-2673 234-2674 Rusty Reese j«» Commerce Bank of Kansas aty hm.¿„awainul https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M em ber FDIC 7 Dave Wittenborn B o n d R e p re se n ta tive 234-2691 (816) 234-2000 has begun on their new bank facility. LANESBORO: Steven V. Johnson has been named vice president at the Lanesboro State Bank. He has 17 years of banking experience. Also at Lanesboro State Bank, Donna Ostrem was named a ssista n t cashier after three years at the bank. MINNEAPOLIS: Steven Droen has been elected personal banking officer at First Bank Produce. MINNEAPOLIS: Promotions were announced for the following persons at First National Bank by D. H. Ankeny, Jr., chairman and chief executive officer: Richard W. Schoenke to executive vice presi dent, and Alan F. Naylor, Warren T. Plante, James L. Reissner and Kenneth A. Wales to senior vice presidents. Mr. Schoenke will head the new Banking Group I, in which Mr. Reissner will head the midwest banking department. Robert J. Anderson, executive vice president, will head Banking Group II, formerly the regional banking group, in which Mr. Wales will continue as head of the correspon dent bank department. Mr. Plante will head the national east/west department and Mr. Naylor will head the special industries depart m ent. David R. C hristenson rejoined First National December 1 as senior vice president and head of the retail metropolitan group after five years as president of Citizens State Bank, St. Louis Park. ST. LOUIS PARK: At First Bank Produce detached facility Richard R. Nelson has been appointed manager and Ranae Goltz has been appointed assistant manager. WHITE BEAR LAKE: Kim F. Hunziker was promoted to vice president at the First Bank White Bear Lake, president Steven Gregerson announced. ¡H Nebraska News CAMPBELL: Bonita J. Peterson has been elected president of the Campbell State Bank. She succeeds her husband, William C. Peterson, who will continue as vice president of the bank while on leave to attend Creighton University Law School in Omaha, where he is in his first year of studies. Mrs. Peterson has been with the bank for five years, serving as secretary of the board of directors and m anaging the insurance department. OMAHA: The Omaha National Bank and TMS Corporation have reached an agreement to share 55 TMS Corporation electronic bank ing terminals in cities across Nebraska. These terminals are in addition to the 25 terminals Omaha National and TMS now share in metropolitan Omaha. Omaha Na tional issues Bank-in-a-Billfold card, which is now offered by eight banks. TMS offers The Money Service Card issued through TMS Corporation affiliates. When the phase-in is completed, there will be shared terminals in Lincoln, Fre mont, Wahoo, Blair, Waverly, Plattsmouth, Nebraska City, Au burn, Crete, Beatrice, Kearney, Hastings, Holdrege, York, Seward, McCook, North Platte, Norfolk, Colombus, Schuyler, Alliance and Omaha. Estate Appraisals Purchase of Collections Sale of 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 Wyoming News GLENROCK: Olen Wright, presi dent of the First Glenrock Corp. and vice president of the First National Bank, has been promoted to the corporate level. He will retain his bank title and remain on the bank’s board of directors. South Dakota News ROSCOE: Catherine “Kate” Meier, assistant cashier, First State Bank, Colorado News DENVER: The board of directors at Colorado National Bank recently announced the promotions of Jon L. Clark, David W. Fowler and Lester L. Howley to vice presidents. Mr. Clark began his career at Colorado National Bank in 1971 as an instalment loan representative. Mr. Fowler joined the bank as a credit analyst. Mr. Hawley began working at a Colorado National Bankshares, Inc. subsidiary, Northeast Colorado National Bank, in 1965 as a loan clerk. We’re people you can turn to for investments. For investment services, data processing, ag lending and overlines . . . we’re the people you can turn to. ASK DALE FROEHLICH to make MNB work for you. Toll free 1- 800- 332-5991 We’re more than western Iowa’s largest bank. We re people. Jim Hongslo Vice President 712/277-6625 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ..............— Ill SECURITY NATIONAL BANK IN SIOUX CITY, IOWA. MEMBER F.D.I.C. _________ ©1980 S ecurity N ational Ban] Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK PARTIAL LIST OF AVAILABLE POSITIONS □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. I I I I I I LENDING— Rural Iowa bank seeking individual with heavy experience in Agricultural loans. Needs someone that does not need training. $26,000. Please Contact: J. Mason Henry Charles E. Walters Co., Inc. P.O. Box 1313, Omaha, Nebraska68101 Phone: (402)553-6400 | retired recently. She started work in November 1956 as bookkeeper. She was promoted to assistant cashier in 1965. W ANT A D S 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 TRAINEE—Operations & Loans $7 million Bank SW Nebraska Phone (308) 334-5236._______________(PA) Bank Agency in northern iowa has immediate opening for fully licensed agent to manage a well established agency. Write f i le LBQ, c l o Northwestern Banker (PA) TRUST ADMINISTRATOR for growing $45 million central Iowa trust department. W ill report to department head. Excellent career opportunity. Salary commensurate with education and experience. Send resume to: File LB R c/o Northwestern Banker. (PA) LOAN OFFICER with consumer and ag lending experience wanted for position leading to manager of community bank office in prime Iowa farm area. Excellent opportunity for growth oriented person. Salary commensurate with banking experience and e d u ca tio n . Send resum e to : F ile LBS c /o North-western Banker_______________________(PA) OPENING FOR CASHIER. Must have experience in accounting, regulations, and operations. Some loan experience helpful. Salary open. Write Farmers & Merchants Bank & Trust, Burlington, Iowa52601. (PA) VICE PRESIDENT-Marketing. Experience required. Additional duties include commercial and farm loans. Excellent potential in $50 million bank. Good salary and location. Write file LBP, c /o Northwestern Banker.__________________________________ (PA) POSITION WANTED BANKERS AVAILABLE CEO with ag lending background CASHIER— Minimum 3 years experience. Degree preferred. Send resume to Dale Feaster, iowa State Savings Bank, Clinton, IA 52732.______________(PA) AG LOAN OFFICER—3-5 years ag loan experience. Degree preferred. S alary com m ensurate w ith experience. Excellent benefits, bonus program. Phone B illings, Montana, (406)248-1860_______ (PA) Commercial Loan Person, with minimum three years experience, for major Iowa bank. $23,000-$25,000 Operations Officer, with 3-5 years experience, for $30 m illion Iowa bank. $22,000. ................ $35,000 Operations Officer with ag lending .............. $25,000 Instalment Loan Officer ............................... $22,000 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, IA 50309. Phone (515) 244-8163. Employer pays fee.______ (PW) Loan Officer Position Wanted: Seventeen years of banking experience-includes agriculture, installment, commercial loans and real estate mortgages. Some operations experience. Available immediately. Write file LBQ, c /o Northwestern Banker.___________(PW) Second Person for community bank in Iowa. Must have all-around banking experience. $25,000 + FOR SALE Marketing Officer with bank background to head department for $60 million bank. $23,000-$25,000 12’x40’ mobile home converted for use as temporary banking facility. Night drop and drive-up window installed; good teller counter; furnace with central air; available immediately. ALSO, 6’x9’ remote drlve-up building with heat and air conditioning. Call (319) 291 -5429 or (319) 291 -5468._______ ___________ (FS) Ag Representative $22,000-$25,000. Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, IA 50309. Phone (515) 244-8163. Employer pays fee. (PA) ASST VP—5 years experience in commercial lending with large bank. Keen business judgment is the key. $28,000. LENDER—A t least 2 years of experience in handling installment loans, student loans, mastercharge, direct & indirect loans. $17,000. TRUST OFFICER—Some experience in trust dept, or legal firm . W ill eventually take on full responsibility of the tru s t de pt. E xce lle n t o p p o rtu n itie s fo r advancement. $20,000 VICE-PRES—Iowa bank seeking #2 person with heavy experience in operations and lending. Position open due to promotion. $35,000. LENDING— Rural bank seeks individual with 2 years of ag lending experience. ALL FEES COMPANY PAID. FOR FURTHER INFORMATION RESPONDINCONFIDENCETO: Bank Division ROBERT HALF of Iowa, Inc 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID AG BANKING CAREERS AG LENDING OFFICER. . .Iowa ............$20-26,000 AG LOAN & OPERATIONS OFFICER. . .Iowa. . . ..................$20-$28,000 rPROFESSIONAL n u r c o o i u i ' i n L rFARM n n i v i iviaain /a v j .. ..Illinois. i i i i n u i o . .. .. MANAGER. ...................................................$ 20 - 22,000 CEO. . .Io w a ............................................... $30-35,000 AG LENDING REP. . .Io w a ............................ $20,000 Since 1968, banks and other ag related employers have been paying us to find the personnel they need. For more information, give Linda (our banking special ist) a call today. sqriCAREERS, INC. m J AGRICULTURAL (515) 394-3145 PERSONNEL RECRUITERS New Hampton, IA 50659 POSITIONS AVAILABLE INSTALLMENT LOAN—Opportunity to head growing dept, in $40MM Rocky Mountain bank. Must have in direct as well as direct lending experience. .. $23,000 ADMINISTRATIVE OFFICER—Second position in $40MM bank with chance to advance to number one spot. Need strong background in operations and desireto be involved in community activities. . $32,000 M A R K ETIN G /O PER TIO N S— Main responsibility w ill be supervision of deposit services. Must have supervisory experience and some banking back ground.................................................................$25,000 SENIOR LOAN OFFICER—$100MM bank with grow ing advancement possibilities. Should possess strong commercial loan experience and working knowledge of agri credits...................................$35,000 JUNIOR OFFICER—Career opportunity with growing Iowa suburban bank. Prefer degree and some exposuretoconsum erlending.................................. $15,000 COMMERCIAL LOAN— Rocky Mountain area bank seeks addition to their staff. Position requires 2-3 years of commercial lending experience. . . . $25,000 Electronic Terminal Insurance Policy 1. 2. 3. 4. 5. Coverage Coverage Coverage Coverage Coverage fa ilu re to fo r the te rm in a l fo r robbery of yo u r cu sto m e r fo r the bank m oney fo r in te rlo p e r/s p o o fe r losses fo r lia b ility a risin g from tra n s fe r fu n d s PiUTGfTlfiTED SVSTEmS □F IDWfUnC. 301 N. A nkeny B lvd ., S uite 220 A nkeny, la 50021 515-964-1358 AG LENDING— Prefer large bank experience and de gree in agri business. Some travel involved. . $25,000 COMMERCIAL LOAN— Major midwestern bank seeks strong commercial lender with expertise in mining credits................................................................. $28,000 All inquires held in confidence. Salary history and resume requested. TOM HAGAN & ASSOCIATES of Kansas City 2024 Swift / P.O. Box 12346 North Kansas City, Missouri 64116 Phone (816) 474-6874 Voi. 9 No. 33 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, https://fraser.stlouisfed.org Iowa. Address all mail subscriptions, changes of address [Form 3579], manuscripts, mail items to above address. Federal Reserve Bank of St. Louis
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