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December8,1986
Des Moines, Iowa
Vol. 15 No. 34
M a rk Olson Form s Tw o T ask Forces
When Mark W. Olson, newlyelected president o f the American
Bankers Association, addressed the
A B A National Agricultural Bankers
Conference in Nashville, Tenn., on
November 18, he laid out the game
plan he plans to pursue during his
year as head of AB A. Mr. Olson is
president of Security State Bank of
Fergus Falls, Minn. Details of his
comments at Nashville follow:
*
*
*
WO YEARS ago at this meet
ing, the ABA Agricultural Bank
ers Division re
cognized th a t
m ajor farm -fi
n an ce is s u e s
were surfacing
in Washington.
You m ade it
clear that our
A ssociation
needed to reaf
firm its strong
commitment to
MW- o l s o n
agricultural banking and form an ac
tion plan to deal with the issues.
ABA beefed up its Washington
staff by hiring Floyd Stoner and
Rusty Jesser, and we also brought
in Jeff Rodman at about that time to
staff the Agricultural Bankers Divi
sion. Simultaneously, our Board of
Directors commissioned the massive
study of the future of agriculture
that is driving our programs today
— “Transition in Agriculture.”
T
A year ago we got our first peek
at what that study was beginning to
forecast for agri-finance. One of the
key early messages out of that study
was that agricultural banks must di
versify to survive. At the same time,
we began to sense the pressure from
the farm states and the need for spe
cific relief from their pressing short
term problems. Based on that, we
formed our Joint Task Force with
the Independent Bankers Associa
tion of America. And from that Task
Force came recommendations for
capital forbearance by the regula
tors, as well as other programs.
Almost instant action by the regula
tors, as well as an initial quick re
sponse by the Senate, showed all of
us the huge potential that we have
to get things done if we speak with
one voice.
In the work of th at Joint Task
Force, we were not divided on the
substance of the issues, we were
forceful in expressing what needed
to be done — and we produced re
sults.
Today, in that spirit, and on the
75th anniversary of ABA’s active
involvement with agriculture, I am
announcing that we will once again
convene representatives from the
farm states — bankers who can
speak for their communities — to
help develop support for action in
1987 and throughout the 100th Con
gress to allow banks to provide for
the needs of their agricultural custo
mers, including new products and
services.
For the longer term, we must re
main focused on assuring that, in
fact, our industry and our Associa
tion are headed in the right direc
tions. I will shortly appoint a special
Presidential Task Force under the
leadership of our treasurer, Tom
Rideout, to take a long, thoughtful
look at the factors that will be af
fecting our industry in the coming
years and what we should be doing
about them — not only in govern
ment relations, but also in educa
tion, training and development, in
formation flows, etc.
But the immediate imperative is
to secure legislation allowing us to
offer new products and services.
That’s what the “Transition in Agri
culture” study tells us, and th a t’s
what we know in our guts we must
do.
In the recent past we’ve been sty
mied by divisiveness — specifically,
disagreements on the interstate
banking issue. In fact, that has been
the most divisive banking issue of
this century for our industry. But,
because of action by the individual
states, that question is largely
behind us. And now we can focus, as
we must, on the future. And the fu
ture lies in new products and ser
vices. There used to be a perception
that this was mostly a big-bank
issue, but I think we all recognize to
day — especially with the “Transi-
After m ore than 120 years of providing correspondent banking services to the
M idw est, you can say w e’ve had a chance to polish our trade.
Find out for yourself. Count on Com m erce.
1-800-892-7100
1 8 0 0 -8 2 1 2 1 8 2
(Outside Missouri)
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
M C of
om
m e rc e Bank
Kansas City
2
burn University at Topeka, Kan.,
and a 1949 law degree from the Uni
versity of Colorado Law School.
He will take the spot vacated by
O. Jay Tomson, chairman and CEO,
Citizens National Bank, Charles Ci
ty, la., who has completed the maxi
mum term of six years on the board.
Iowa News
tion in Agriculture” study in hand
— that this is an issue for all banks.
I think we were all surprised at
how quickly momentum built up to
resolve the interstate-banking issue,
and today there is just no doubt at
all that the same kind of momentum
is building in favor of new products
and services for banking.
We have a game plan ready to go.
I have met, or will shortly meet,
with the heads of every other na
tional-level banking group, and with
many of the state association lead
ers as well, and I think we are uni
ted. As you probably saw in today’s
Wall Street Journal, all these groups
joined in sending the Treasury De
partment a letter asking for the Ad
ministration’s support and leader
Jerry T m do
MNB Correspondent Banker
Tbgether We Can
Accomplish
Great Things
Call 319-398-4306
or toll free 1-800-332-5991
Strength of \
Eastern
J
|owa_^f
Merchants National Bank m
Cedar Rapids. Iowa 52401
Member F o IC
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A BANKS OF IOWA BANK
ship on this legislation. There is
nothing in our legislative plan to di
vide us, and the plan takes nothing
away from anyone — it’s totally procompetitive.
Between now and the first of the
year, we will be aggressively seeking
co-sponsors for our legislation in
both the House and the Senate. And
soon I ’ll be asking each of you for
your help. The heart of our game
plan is to get the senior executives
of our industry — th a t’s you — to go
to Capitol Hill, make the pitch and
close the sale. This has been the se
cret of success for the industries that
oppose us, and we must now put
that same strength to work for us. □
Chip Backlund Elected
Director of Chicago Fed
B.F. (Chip) Backlund, president of
Bartonville Bank in Bartonville, Illi
nois, has been elected to the board of
directors of the Federal Reserve
Bank of Chicago.
Mr. Backlund, whose term will
begin January 1 and run through
1989, was elected by banks that are
located in the Chicago Fed’s District
and are members of the Federal Re
serve System. As one of three Class
A or banker directors on the board,
Mr. Backlund will represent mem
ber banks in the smallest size group,
those with capital and surplus of $3
million or less.
This represents the first time in
60 years, perhaps longer, that this
Class A seat has not been held by an
Iowa banker.
Mr. Backlund is a past president
of both the Illinois Bankers Asso
ciation and the Independent Bank
ers Association of America. He was
also named as a presidential dele
gate and commissioner to the White
House Conference on Small Busi
ness. Mr. Backlund also serves as
chairman of the State Street Bank
and Trust Company in Quincy, 111.
He holds a 1946 BA degree in eco
nomics and accounting from Wash
The Iowa Bankers Association
filed two lawsuits in Polk County
District Court November 26. The
first seeks to prevent the State of
Iowa from moving the department
of banking from the downtown busi
ness area to a statehouse office
building. The second asks the court
to determine whether state or fed
eral law prevails in complying with
the federally revised farm lien law.
In the first lawsuit, IBA Presi
dent Russell S. Howard, chairman of
Mahaska Investment Co., Oskaloosa, said the move of the banking
department would be the first step
in a gradual deterioration of the high
quality department for which Iowa
has become nationally noted. Such a
decline, he said, has been noted in
other states that have consolidated
their banking departm ent with
other state offices. Proponents
argue that state-ordered reorganiza
tion and the need to reduce costs
made the move necessary. Mr. How
ard, however, pointed out that the
banking department generates all
its own funds from bank examina
tion assessments and, therefore,
does not access the state budget. In
addition, the department for some
years had contributed voluntarily
$50,000 to the state general budget.
This past year, that amount was in
creased to $100,000 and was money
coming from banks that would
otherwise have been used to reduce
their assessments in the future. Mr.
Howard also noted that retaining
present department offices would
save $200,000 in 10 years as op
posed to moving them to statehouse
offices.
IBA Executive Vice President
Neil Milner pointed to the privacy
and discreet conduct of business af
forded by present offices. General
Services also did not follow Iowa
law, it was stated, which requires
the state to publish rules governing
its action and to allow outside part
ies to voice their opinion.
The second suit asks the Court to
determine whether state or federal
law prevails when a bank tries to
comply with the federal law effective
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K A N S A S C IT Y , MO.
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IOWA BANKERS
Directors and Officers
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Insurance
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coverage up to $100,000
Call
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Now exclusively represented in Iowa by
Iowa Bankers Insurance and Services, Inc.
1-800-532-1423 (Iowa)
515-286-4344
THE KANSAS BANKERS
SURETY COMPANY
435 K ansa s A venu e P.O. B ox 1654
T o peka, K a n sa s 66601
1- 913- 234-2631
Serving bankers for more than 75 years
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Federal Reserve Bank of St. Louis
Supplement to Northwestern Banker Newsletter 12-8-86
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Federal Reserve Bank of St. Louis
3
Call on the “Experienced Professionals
R e a d y to m e e t y o u r
c o rre s p o n d e n t n e e d s .
December 24 that governs how lend
ers comply with the revised UCC
Farm Lien Law. Federal law states
that lenders shall notify all potential
buyers of farm products within the
state when they have liens on bor
rowers who may sell equipment or
products. Iowa law, enacted last
spring, says lenders must confine
such pre-notification to only those
potential buyers on the list supplied
by the borrower. If the borrower
sells off-list, the bank’s security
agreement is no good and the bor
rower is supposed to be fined. The
IBA points out that by complying
with Iowa law, as opposed to the
federal law, Iowa banks would pos
sibly be told by regulators they are
not protected and have such loans
classified. The IBA continues to
push for utilizing the state compu
terized central filing system that
has been in place since 1980. This
suit was filed on behalf of First Na
tional Bank, Dubuque; Mahaska
State Bank, Oskaloosa, and Farm
ers State Bank, Marion.
* * *
— F ir s T ie r B a n k
Lincoln
-13th & M Streets, Lincoln, Nebraska 68501
cost for the seminar is $125. For
non-members who do not subscribe
to the program, cost is $175.
aqr/ CAREERS, INC.
AG BANKING PERSONNEL SPECIALISTS
Nebraska News
During the recent special session
of the Nebraska legislature, con
cluded on November 20, two farm
bills were enacted. LB 1, reviewed in
last week’s Newsletter, activates the
state’s computerized central filing
system as the adopted method for
lenders to file their security liens, in
stead of using the costly and cum
bersome pre-notification system.
The other bill, LB 3 provides that
a waiver may be included in lending
instruments to negate the effect of
LB 999 passed last spring that per
mits a farmer in foreclosure proceed
ings to redeem the homestead 160
acres. After LB 999 was passed, life
insurance companies refused long
term mortgage lending to Nebraska
farmers, including two state sena
tors.
GRANT: Farmers National Bank of
Grant has appointed Terry O. Jen
sen as president and director of the
bank. He formerly held management
positions at Nebraska State Bank,
Broken Bow and First State Bank,
Gothenburg. Mr. Jensen replaces
Philip E. Jossi who has been ap
pointed to a management position
with an affiliated holding company,
First United Bancshares, Inc., Ord.
His new responsibilities will include
management consulting.
The IBA is sponsoring an Indivi
dual Retirement Account and Sim
plified Employee Pension Seminar
at several locations in Iowa during
January. The seminar will provide a
general review of IRAs and SEPs.
In addition, a discussion of the 1986
Tax Reform Act and Revenue Rul
ings from the IRS which will impact
IRAs will be presented. A special
feature of the seminar will be a dis
cussion of 401-K SEPs, which is a
Minnesota News
new type of pension plan now avail
able as a result of the Tax Reform RED WING: Norwest Bank Red
Act. The seminar will be held Jan. 7 Wing has named Burl A. Leo as its
in Sioux City, Jan. 8 in Cedar president, succeeding Norman J.
Rapids, and Jan. 9 in Des Moines. Sampson, who has been elected
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Firslier Bank, N.A., Lincoln, Member FDIC
Jean 712/779-3567
Massena, la. 50853
Sandl 515/394-5827
New Hampton, la. 50659
Confidential. Employer paid fees
Colorado News
DENVER: United Bank of Colo
rado, Inc. has agreed to sell two affi
liates, United Bank of Steamboat
Springs and United Bank of Mon
trose, for undisclosed amounts as
part of securing Federal Reserve
Board approval of its application to
acquire IntraW est Financial Corpo
ration. United Bank of Steamboat
Springs will be sold to investors as
sociated with The Western Indus
trial Bank in Steamboat Springs.
This purchase is contingent upon
certain governmental approvals, but
not the closing of the IntraW est ac
quisition. The purchase of United
Bank of Montrose is contingent
upon certain governmental ap
provals and the closing of the Intra
West acquisition.
ENGLEWOOD: Don M. Clary has
joined First Interstate Bank of
Englewood as vice president and
manager of the commercial loan de
partment. He has over 11 years
banking experience and most recent
ly was vice president in the energy
banking group at First Interstate
Bank of Denver.
BA N K IN G
PRESIDENT/CEO. Aggressive ag lender to step into
#1 spot in $15mm bank. Strong capital and low clas
sifications. Plenty of operations support. Bonus
based on performance. 45 minutes from large city .
........................... $40,000...............................Call Steve.
COMMERCIAL AND MORTGAGE LOAN OFFICER.
2 + years experience, good people skills and busi
ness development will land this position with a
$150mm bank............... To$35,000................Call Marj.
SR. VICE PRESIDENT. Multi-bank holding company!
Oversee entire loan portfolio, business develop
ment. Direct and motivate officers. Responsibility
plus......................... $48,000..........................Call Bruce.
AG LOAN OFFICER. Documentation and cash flow
expertise are keys to $25mm bank. Excellent oppor
tunity for development and growth while supporting
the present lending staff. Strong capital position.
Standard health and life benefits along with profit
sharing make this one very appealing! .....................
........................... $30,000............................... Call Steve.
TRUST OFFICER. Investments and administration
experience needed for holding company bank. Ex
cellent upward mobility! ...$45,000. ...C a ll Marj.
COMMERCIAL LOAN OFFICER. High performing
bank needs 3 + years commercial experience. Port
folio is diverse in this regional trade area city. A lot
is expected, ample return. Bonus, 401K, insurance. .
....................... To $40,000............................Call Bruce.
SR. AG LOAN OFFICER. $40mm Ag Oriented Bank,
"nils position becomes your with positive adminis
trative skills and a strong ag background. A good
capital base coupled with benefits makes this an ex
tremely attractive opportunity. $40,000. Call Steve.
V.P. • COMMERCIAL LOAN MGR. Sales oriented
drive, outgoing personality and great people skills
will make you a member of this profitable bank
team. Unlimited upward mobility! .............................
......................... To $50,000............................. Call Marj.
(personnel Search
1126 So. 72nd St. O m aha, Ne. 68124
SENIOR LENDING OFFICER. N.E. Iowa commercial bank
Small bank in Western Illinois with good
earning record. Contact Malcolm Freeland
Norwest Bank, Ft. Dodge, N.A., a $143MM bank located in
central Iowa, is seeking a COMMERCIAL LOAN OFFICER.
Candidate should possess a bachelor’s degree and a mini
mum of 2 years commercial lending or related work experi
ence. Competitive compensation package available. Send
resume and salary history to: V.K. Butler, Human Re
sources, 666 Walnut, Des Moines, IA 50304. E.O.E.
FOR SALE
OFFICER TRAINEE with computer and bank operations
knowledge + willing to learn bank finance. Contact Miles
Savings Bank (319) 682-7777.
(PA)
Looking for individual to MANAGE INSURANCE AGENCY
in Eastern Iowa. Must have ail insurance licenses. Contact
Miles Savings Bank (319) 682-7777.
(PA)
COMMERCIAL LOAN OFFICER $900 + M bank seeking individual for effective servicing and maintenance of loan
portfolio. Major commercial lending exp. required. Send
resume to Human Resources, United Federal Savings
Bank, Locust at 4th, Des Moines, Iowa 50309. E.O.E. (PA)
LOAN SERVICE SUPERVISOR needed to coordinate all
functions related to servicing and insuring bank owned
and serviced loans. Prefer Loan Service supervisory exper
ience. Send resume to Human Resources, United Federal
Savings Bank, Locust at 4th, Des Moines, Iowa 50309.
E.O.E.______________________________________________ (PA)
COLLECTION SUPERVISOR. 3-5 yrs. management experi
ence needed for supervising all functions related to delin
quent mortgage collections. Send resume to Human Re
sources, United Federal Savings Bank, Locust at 4th, Des
Moines, Iowa 50309. E.O.E.
(PA)
MANAGER, PROBLEM LOANS, PROPERTY MGMT. & DISPOSITION. $900 + M bank seeking individual for negotiat
RYAN AUCTION CO., INC.
Decorah, Iowa 52101
Farm Equipment Specialist
Appraisals & Auctions
Call Dale Ryan 319-382-8648
ing problem loan workouts, disposing of acquired property
and managing dept. Excellent negotiation and communi
cation skills and financial analysis exp. required. Send re
sume to Human Resources, United Federal Savings Bank,
Locust at 4th, Des Moines, Iowa 50309. E.O.E.
(PA)
rXTN >ScH O O i.F.R lit
AND
ASSOCIATES
"Successful Banking is Quality Personnel"
POSITIONS AVAILABLE
PRESIDENT, $20mm country bank ................Open
POSITIONS AVAILABLE
PERSONAL TRUST
Leading trust dept seeks professional w/2 + yrs exp in per
sonal trust w/strong bank. JD is not mandatory, will handle
100 or more accts dealing w/estate planning, probate &
bus dev.
$32K.
EX VP
Are you a proven leader who has gone as far as you can in
present institution. One of the MW leading Irg banks seeks
indiv w/strong consumer/comm’l lending, mgt of mrgs &
excel mrtg skills who has been in $380m or larger envlronmt.
$80K.
COMM’L LOAN OFCR
Mpis based bk has pos in beautiful facility for lender w/3 +
yrs comm’l & professional loans & strong bus dev skills.
This pos open due to expansion & is worth hearing more
about.
$38K.
FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS
RCMMH1T N R U P
317 6th Ave, Ste. 650
Des Moines, IA 50309
®
(515) 244-4414
ALL FEES COMPANY PAID
BANK FOR SALE
— $200MM total assets, $100MM total loans— seeks indivi
dual to direct and manage all lending functions. Portfolio
includes commercial, consumer, agriculture & real estate
credits. Senior management position. Top salary and ex
cellent benefits. Forward resume to File No. W HO c/o
Northwestern Banker. E.O.E.
(PA)
PRESIDENT, $50 + mm bank in progressive,
growth t o w n ....................................................... Open
PRESIDENT, $35mm bank, 15,000 population,
solid b a n k ............................................................Open
a
(515) 282-6462.
SHARP SF756 PLAIN PAPER COPY MACHINE. V/i yrs.
old. Always been under service agreement. $875. Call
Westchester Savings Bank at (319) 698-2225.
(FS)
KARDEX CHECKVEYER like new. Has been under main
tenance agreement. Model #KVS80. Contact Roger Huinker. (319)382-2991._________________________________(FS)
BURROUGHS S3610 POCKET PROOF MACHINE, 2 megahertz clock, 512KB memory, auto feeder, 2 disk drives,
sync data comm controller. Contact Ed James (412)
352-5300.
(FS)
0
POSITIONS AVAILABLE
PRESIDENT
Do you enjoy a scenic lakes area? A proven bank with a
clean portfolio in west Wise needs a community motivated
President. Desire 10+ yrs coml banking exp In a major
mkt, strong selling skills and a desire for ownership.
To $70K.
Job #NW9415.
AVP COMMERCIAL LENDER
•
Tired of false promises & constant reorganization? One of
the top banks in the Twin Cities has the need for a market
driven coml lender. Desire 3 + yrs coml lending exp,
strong selling skills & top professional image. A Great
Growth Oppty!
To$37K.
Job#NW9416.
TR U ST ADMINISTRATOR
•
Are you suffering from the “ Dulls-ville” syndrome? A pre
miere trust co in a major Minn city has an immediate need
for a proven Trust Administrator with 2 + yrs exp. Make a
move now!
To$30K.
Job#NW9417.
FOR MORE INFORMATION
C O N TA C T PAUL GENTZKOW
R O B I R T MSMLF
3636 IDS Center
Minneapolis, MN 55402
(612) 339-9001
ALL FEES COMPANY PAID______
£
PRESIDENT, $10mm country bank auto + $28,000
PRESIDENT, $45mm country b a n k .........................
.................................................. auto + $45,000 + +
COMMERCIAL LOAN OFFICER, $ 1 0 0 + + bank,
progressive, growth area ................................ Open
REAL E S TA TE LENDER, $75mm bank, 12,000
population ............................................$35,000+ +
COMMERCIAL VICE PRESIDENT, $100mm bank,
10,000+ population .........................................Open
AG LENDER, $100mm bank, 10,000+ population .
.............................................................................. Open
COMMERCIAL V.P., $300 bank, excellent location.
...........................................................range of $40,000
CO M M ER CIAL/A G LE N D E R , $30mm bank,
1,000+ population ....................... range of $32,000
#2, EXECUTIVE VICE PRESIDENT, $100mm bank,
40,000 pop........................................range of $55,000
DON W. SCHOOLER
2508 East Meadow
Springfield, Missouri 65804
(417) 882-2265________________
POSITIONS AVAILABLE
CASHIER - $25MM Ag Bank. Requires background with inhouse minicomputers and some knowledge of Agri Loans.
$30K
PRESIDENT - Agri Bank with problem loans. Should have
administrative experience and solid Agri Loan skills. $40K
OPERATIONS - manage department of 35 for large urban
bank. Experience with deposit accounting and account
services required.
$38K
AGRI LOAN - community bank with large Ag portfolio.
Seven yrs. or more Ag Lending experience needed.
$35K
COMMERCIAL LOAN - large suburban bank with $100MM
loan portfolio. Degree and minimum 3 yrs. comml lending
experience with six figure credits.
$32K
Additional positions available in Midwestern states.
TOM HAGAN & ASSOCIATES
2024 Swift - Box 12346
North Kansas City, MO 64116
816/474-6874
“ Serving the Banking Industry Since 1970”
Vol. 15 No. 34 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden
Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at
Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden
St., #201, Des Moines, Iowa 50309.
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£
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