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Vol. 12 No. 43

Des Moines, Iowa

February 13,1984

State Legislatures in Session
e g i s l a t u r e s of most states
in the upper midwest are in ses­
sion now or will be soon, and bills af­
fecting banks are proliferating.
North Dakota and Montana legisla­
tures do not meet this year. Brief re­
ports from the other states follow:
Nebraska: L B 1068, which would
have allowed branch banking in the
home county and contiguous coun­
ties, was killed in committee. The
same fate befell L B 1069, which
would have authorized regional in­
terstate banking. Several bills
thrown in the hopper as a knee jerk
reaction to the Commonwealth Sav­
ings industrial loan bank failure
have met a similar fate or are being
amended. LBs 839 and 840, the socalled squealer bills that would have
required bank employees and ex­
aminers to report any violations of
any kind, no matter how technical,
to the banking director, and then to
the attorney general, were killed.
L B 1039, the Banking Director
bill, was advanced to the floor, but
was amended February 8 to state
that a penalty for violating a final
order of the banking director would
take place only if there was intent to
injure or defraud the financial insti­
tution. The Nebraska Association is
still considering its position on the
LB 1051 before the education
committee, which would allow s&ls
to get school district funds, likewise


is being watched. LB 1031, which
would have revised and lowered pre­
sent usury statutes, was killed in
committee. LB899, which would re­
quire FDIC or FSLIC coverage for
all financial institutions, was
amended to allow small s&ls to be
exempt, provided they notify each
customer annually that deposits are
not insured.
L B 1049, which would have re­
quired notifying the Dept, of Insur­
ance each time insurance was linked
to a loan, was killed.
Iowa: HF2220, which would au­
thorize s&ls to get public funds de­
posits, would provide for pooled
funds of counties and municipalities
under control of the state treasurer,
and would eliminate the sinking
fund that protects governmental de­
posits by providing for pledging of
assets, was being debated as this is­
sue went to press. The Iowa Bankers
Association opposes the first two
parts of the bill, but supports the
third part.
SF510 was voted out of the Se­
nate A g committee to the floor and
would, in effect, allow sales barns,
suppliers, etc., to ignore any lien a
bank might have on products
they sell for farmers. The same bill is
being proposed on a mass basis in
practically every state legislature
and at the federal level by ag in­
terests seeking to destroy a bank’s
secured interest position. SF2147, a


compromise bill to this one, has been
introduced and the IB A and IIB are
Study Bill 502 to come up before
the Commerce committee affects the
sale of insurance and real estate by
banks and is being pushed hard by
insurance and real estate blocs. Op­
posed by IB A and IIB.
In the Senate, the entire subject
matter of the 8% limitation on de­
posits to be held by MBHCs, inter­
state banking, pooled funds, pledg­
ing, the lien-law and others, are un­
der discussion by a subcommittee.
The Iowa Independent Bankers
met recently and confirmed its sup­
port for present law relating to the
authority for out-of-state BHCs to
acquire banks in Iowa. IIB further
reaffirmed its position supporting
present law which limits MBHCs to
ownership of 8% of total commercial
bank deposits in Iowa.
Minnesota: A t the Minnesota
Bankers Association Bank Manage­
ment Conference in Minneapolis last
week, M B A members were briefed
on legislative issues, especially three
of particular interest. The M B A
156-delegate Strategic Issues For­
um, organized in 1982 as a vehicle to
discuss issues o f concern to con­
stantly update the 1982 Strategic
Plan of MBA, voted 70 to 53 for a
change in the state law affecting in­
terstate banking. Because of the
closeness o f that vote, the M B A
board, which met after the report
was given, decided that in view of

AND Getting
it done for you.



Bill Sprenger

Frampton Rowland

John Messina




Commerce Bank of KansasatyA
Federal Reserve Bank of St. Louis


o lp n h n n o

o ^ A -o n n n
(816) 234-2000


Norwest Bank Des Moines , N.A.
Call (515) 245-3131 or toll-free (800) 362-2514


Member FDIC

Y earn w ork:
one o f the reasons
w e’re firs t in Iowa.
Bob Buenneke

the close vote, that support to such
a bill would be conditioned on the
elimination o f usury rate ceilings for
regulated lenders and their affili­
The Forum by an overwhelming
vote of 117 voted against a concen­
tration bill that would have limited
holding companies to 10 % of depos­
its in the state. The bill would pro­
vide that if the 10 % ceiling was sur­
passed, a holding company could not
buy or charter additional banks, and
affiliate banks could not take advan­
tage of the detached facilities law.
By a vote o f 104 to 22, the Forum
voted in favor of expansion o f the
detached facilities law to allow a
bank to have up to five detached
The Minnesota legislature does

to make MNB
work for you.
Toll free
1- 800- 332-5991

National Bank 151
Member F.D.I.C.

Federal Reserve Bank of St. Louis

Gary M cClim en

not convene until March 6.
Illinois: The Illinois Bankers A s­
sociation legislative package covers
severed issues relating to credit card
crime, credit card charges, loans to
bank directors, loan rates, interest
rate ceilings, and security interest.
South Dakota: A bill that would
have allowed formation of industrial
banks has been killed. No other leg­
islation of prime importance to
banks has yet been introduced.
On the national level, a summit
meeting of A B A and IB A A and four
other organizations resulted in
agreement that the industry would
concentrate on seeking expanded
powers for bank holding companies
and would put in the background
any federal legislation involving
geographical deregulation of bank­
ing. IB A A sent a special bulletin to
all members warning them of efforts
being made in state legislatures
across the country, often with the
stimulation of Citicorp, it said, to
seek regional interstate banking
authority, in an effort to force the
hands of Congress to do the same. □

elected during the mail vote in Aug­
ust prior to the annual convention in
Des Moines next September, Mr.
Meriwether would succeed Bill Lo­
gan, president of The State Central
Bank in Keokuk. He would then be­
come IB A president for 1985-86 dur­
ing the IB A ’s Centennial Year.
CEDAR RAPIDS: Mark D. Budensiek has been promoted to vice presi­
dent of the marketing group of
Banks of Iowa Computer Services,
Inc. He had been serving as assis­
tant vice president in marketing
since 1982. Prior to that time he was
with Union Bank and Finance Amer­
ican Corporation in California.
DES MOINES: Hawkeye Bancorporation has applied to the Federal
Reserve to expand the activities of
its Hawkeye Bancorporation Mort­
gage Company, based in Des
Moines. The company purchases
mortgage loans from banks, s&ls
and mortgage brokers on single
family dwellings up to four-plexes.
Hawkeye assumes the market risk
for local institutions, and acts as a
conduit to the secondary market.
Hawkeye then assumes all servicing
o f the loans.

Nebraska News

Iowa News

D A V ID CITY: First National Bank
here has announced the promotion
of Frank P. Neesen from senior vice
president to executive vice presi­
dent; LaVeme A. Dowding from
vice president and cashier to senior
vice president, and Rex L. Minert
from assistant vice president to vice
president and cashier.

J. Bruce Meriwether, president of
The First National Bank in Dubu­
que, has announced his candidacy
for the office of president-elect of
the Iowa Bankers Association. If

PIPESTONE: First Bank Pipe­
stone, N.A. has elected Mark Mosbrucker vice president. He began his

Minnesota News

Recipe for success.. A------------- .


where common transactions are handled uncommonly well.
13th & M Street • Lincoln. Nebraska 68501 • Mem ber, F.D.I.C.


banking career in 1978 as a manage­
ment associate at First Bank Wahpeton, N.D. He joined the Pipestone
bank in 1979 as an agricultural loan

Illinois News
CHICAGO: The Bank o f Chicago
group has announced the appoint­
ment o f new presidents at two of its
affiliated banks. Janet D. Patterson
has been named president and chief
executive officer of the Bank o f Chi­
cago and Lee P. Gubbins has been
named president and chief executive
officer o f the Lawndale Trust and
Savings Bank. Mrs. Patterson for­
merly was president of the Lawn­
dale bank, which she joined as vice
president in 1978. Mr. Gubbins joins
the Lawndale bank from the First
National Bank of Elgin, where he
was a vice president.

® M INNEAPOLIS: A s part o f the an­
nounced plan to more closely align
some major activities o f First Bank
Minneapolis and First Bank St. Paul,
0 it was announced recently that Ken
Wales, senior vice president in First
Bank Minneapolis correspondent
bank department now will have re­
sponsibility for marketing and ad^ ministration o f all non-credit ser­
vices for all correspondent banking
at both banks. He will continue to
report to Robert Anderson, execu­
tive vice president in charge o f corSouth Dakota News
9 respondent banking for both banks.
SALEM: Alex B. Knox has been
Dick Parnell, vice president at First
named president of McCook County
Bank Minneapolis, now has the
National Bank. He succeeds Harvey
same title at First Bank St. Paul,
E. Eichinger, who has retired after
and will be assistant department
45 years in banking, 33 of which
0 head to Mr. Wales in charge of cred­
were at the Salem bank. He has been
it administration and delivery of
serving as president since 1976. Mr.
credit products.
Knox has been in banking 16 years
Mike Boncher, vice president,
in California and with the McCook
First Bank Minneapolis, will have
County bank.
9 responsibility for multibank holding
companies and credit services to
them, and will report to Mr. Wales.
North Dakota News
Jack Quitmeyer, formerly with First
JA M E S T O W N : N orw est Bank
Bank Minneapolis, is assigned to
Jamestown, N.A. has promoted
O First Bank St. Paul handling the
Clair Baker to vice president, per­
non-credit product division, report­
sonal banking officer. He has been in
ing to Mr. Wales.
banking since 1955 and with Nor­
Reporting to Mr. Parnell will be
west Bank since 1964.
J.P. Mansfield, assistant vice presi# dent for ag products.
Wyoming News
Mike Mishou, vice president,
First Bank St. Paul, heads the cor­ CHEYENNE: The First National
respondent bank division at his Bank and Trust Company o f W yom ­
bank. Sally Laux, assistant vice ing has announced the promotion of
# president, First Bank Minneapolis, James Cowan, senior vice president
heads the correspondent division in in charge of loans, to executive vice
president and a member of the board.

Mr. Cowan, who joined the bank in
1979, will assist the president in all
areas o f bank management as well
as continuing his duties as senior
loan officer.
RIVERTON : American National
Bank has announced the promotion
of Bruce L. Brimmer to senior vice
president and Betty L. O ’Donley to
assistant vice president.

Montana News
The Montana Bankers Associa­
tion Marketing Committee will be
sponsoring its first conference this
March 8-9 at the Holiday Inn West
in Billings. The marketing commit­
tee was assisted by Jon Hanson,
M B A ’s marketing consultant.
Registration will begin at 8:30
a.m. on March 8. Following a wel­
come, Jon Hanson, Hanson Adver­
tising, Billings, will talk on “ Writ­
ing a marketing Plan.”
After lunch Mr. Hanson will con­
tinue with “ Executing the Plan.” A
cocktail party at 5:00 p.m. will end
the day with dinner on your own.
Feature speaker for the confer­
ence, Murray Raphel, Murray Raphel
Advertising, Atlantic City, N.J.,
will open the Friday morning ses­
sion with “ The Golden Triangle of
Successful Bank A d v e rtisin g .”
Workshops will follow with Mr.
Raphel presenting the luncheon talk.
Afternoon workshops will be re­
peated with adjournment at 5:00 p.m.

Banking, Financial & Business Personnel
Iowa and Nationwide

714 U.C.B. Building, 515-283-12545
Des Moines, Iowa 50309

Loan participation through us can help
improve your bottom line
For that reason, banks in Iowa depend on
Correspondent Banker Dick Flesvig

Federal Reserve Bank of St. Louis

First Bank Saint Paul
Member First Bankt System
Correspondent Banking Division
332 Minnesota Street
Saint Paul, Minnesota 55101 (612)291-5577



One, two and three bedroom units for
sale or rent. Most with hot tubs.
Phone 1-800/922-2590.
Dwayne Smith
Box S
Dillon, Colorado 80435

Ag Banking Personnel
Let us help you. Call the ag lending personnel
specialists without cost or obligation. Confi­
dential. Employers pay us to hire the best.

Financial Careers
Executive Officer for large midwest bank. Must have
strong lending record and college degree.. Salary $60,000 ^
Number Two Officer for $100 million bank. Requires lend­
ing background........................................... Salary $60,000
Commercial Lender for Wisconsin bank over $75 million.
Qualified to start credit dept.,business development, and
call program...............................................................Salary$35,000
Commercial Lender for Minnesota multi-bank holding com- ^
pany bank. Some ag experience will be a plus. Location ™
Southern Minnesota...................................................Salary$38,000
Commercial Real Estate Lender for Twin Cities bank.........
......................................................................Salary $35,000

Career opportunity for individual with 2-3 years experience
in INSTALLMENT LENDING. College degree preferred.
Salary commensurate with experience, plus excellent
benefits. Contact: Patricia S. Krage, Personnel Officer,
Security National Bank, P.O. Box 147, Sioux City, IA 51102.
___________________________________________ (PA)
COMMERCIAL LOAN OFFICER—Suburban bank of $40
million has immediate opening for loan officer with 3-5
years experience in lending, emphasis in commercial
area. Salary commensurate with experience. Send resume
and salary requirements to file WAC, c/o Northwestern
Banker. __________________________________ (PA)
Midwestern bank with $120 million TRUST DEPARTMENT
seeks person with at least five years experience in various
trust activities capable of heading department. Law de­
gree desired. Excellent fringe benefits with salary to be
determined. Largest bank in progressive university com­
munity. Please submit resume including salary require­
ments in confidence to: file WAD, c/o Northwestern
________________________________ (PA)
CASUALTY INSURANCE AGENTS, need qualified casualty
insurance agents for present openings in Wyoming. At­
tractive employment package is offered. Send resume to
Box 9, Wheatland, WY 82201.___________________ (PA)
Northeast Iowa bank in metro area desires AG LENDER
with computer background and 3-5 years bank experience.
To $20,000. Write file WAF, c/o Northwestern Banker (PA)
LOAN OFFICER/PERSONAL BANKER with recent Commercial Bank experience as instructor/coordinator in well
established two year post-secondary finance and credit
management program. Should have both consumer and
commercial (R.E. or Ag) lending and collection back­
ground at management levels to qualify. 43 week annual
contract. Business Education helpful but degree not re­
quired. Salary commensurate with experience. Send re­
sume to: Vernon R. Maack, Director, Alexandria Area
Vocational-Technical Institute, 1601 Jefferson Street,
Alexandria, MN 56308._________________________ (PA)
AG LOAN OFFICER—progressive bank group looking for
ag lender in $65 million bank in Boone, IA. Prefer 5-10
years banking experience. Salary commensurate with ex­
perience. Send resume to Jack Ayres, P.O. Box 486, Bellevue, NE 68005._______________________________ (PA)
LOAN OFFICER/CASHIER—for $24 million bank in NE
Iowa. Good opportunity and working conditions in a new
facility. Experience desired. Write file WAG, c/o North­
western Banker.
of $140 million. Minimum of three years experience. Quali­
fied to handle FHA/VA loans and process loans for secon­
dary market. Write file WAB, c/o Northwestern Banker.(PA)
EXPERIENCED TRUST OFFICER to form and head a trust
department in a $200 million financial institution. Position
requires law degree with approximately 5 years experi­
ence in all phases of trust services. Applicants should be
aggressive and personable in order to be considered. Ex­
cellent benefits and salary commensurate with experi­
ence. Send resume, salary history and requirements to file
WAH, c/o Northwestern Banker. All inquiries confidential.
CEO—Southeastern Minnesota bank with total assets of
$15 million located in town of 1,500. Opportunity to partici­
pate in up to 20% ownership. Send resume to file WAJ, c/o
Northwestern Banker.
EDP AUDITOR needed to establish EDP audit functions in
$1 billion bank. Degree required plus a minimum of three
years experience in auditing/data processing CPA desir­
able. To $26,000. An Equal Opportunity Employer. Write
file WAK, c/o Northwestern Banker.
Major Northwest Iowa Bank has several immediate open­
ings for ENTRY LEVEL, career minded individuals. Seek
applicants with accounting, finance or general banking
backgrounds. Excellent advancement potential and bene­
fits. Salary commensurate with experience. Send resume
in confidence to: Patricia S. Krage, Personnel Officer, Se­
curity National Bank, P.O. Box 147, Sioux City, IA 51102.

Linda: 515/394-5827
Jean 515/263-9598 if
New Hampton, la. 50659 no answer, 712/779-3567
Massena, Iowa 50853



Ag Lender to head department in Western Minnesota bank.
Will supervise two other lenders................................ Salary$36,000
Ag Lender for South Dakota bank, located in eastern part of £
state............................................................. Salary $30,000
Ag Lender for Central Iowa bank of over $40 million.............
..................................................................... Salary $32,000
Ag Lenderfor bank in major South Dakota city. Requires
degree and 3 to 5 years experience........... Salary to $30,000
Ag Lender for western Iowa community bank. Requires 2 or a
more years exp.......................................... Salary to $28,000 ^

Regulation D - C.R.R.
The Apple II C.R.R. calculation program the Fed is
providing, requires an 80 column text card to
operate in your Apple II. We have a supply on
hand. Call Gayla for more information.

Financial Systems, Inc.
Phone (308) 237-5995

tioned and 30 day parts and labor warranty. $695,000. Call
Scott at 800-531-5036 (in Texas 800-252-3402)._______ (FS)
INVENTORY CLEARANCE!) 2 Burrough S-558 Single
Pocket Proof. New, in original carton. $2500.00 each. Call
Teresa at (512) 250-0794._______________________ (FS)
IBM-PC/Franklin Ace and other micro computers. We are
distributors for over 55 bank programs. Send/Call for com­
plete list. Phone 308/384-5995. Bankers Electronic Equip­
ment Inc., 380 N. Walnut, Grand Island NE 68801
B-80 BURROUGHS SYSTEM—including line printer, crt,
and journal printer. Available immediately. Citizen State
Bank, Clearwater, Nebraska. Phone 402/485-2216 ask for


Ag Lender for northern Iowa community bank. Requires 2 or
more years exp.......................................... Salary to $29,000
Credit Analyst for western Minnesota bank. Good opportuni­
ty to move up in the commercial lending field.......................
.....................................................................Salary $25,000
Commercial Lender with limited experience for key North ^
Dakota bank................................................Salary $25,000
Accountant with bank experience needed by major
Nebraska bank.........................................Salary to $20,000
Ag-orlented individual with computer experience. Excellent
opportunity to move up in ag lending field fo person with
IBM experience/Micro computer............... Salary to $20,000 _
Write or call Malcolm Freeland in confidence c/o Freeland
Financial Service, Inc., 1032 Carriers Bldg., Des Moines, la.
50309. Phone (515) 282-6462. Employer pays fee._________

Don't gam ble
when choosing
o correspondent «
bonk. Com e to
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Specialist in Troubled Properties
6111 Fleur Drive
Des Moines, IA 50321
Telephone 515/287-5644

Estate Appraisals
Purchase of
Sale of Rare Coins
Reliable and respected service
for oyer 20 years
Used by bankers
throughout the midwest

Ben E . Marlenee
913 Locust
Des Moines, Iowa 50309


( 800) 362-1615

PRESIDENT - ideal candidate will have current ad­
ministrative experience as a #1 officer in a $30MM to
$50MM community bank. Superior Agrilending skills and
some knowledge of operations is required. The position is
located in rural western Missouri.
$$ Open.
REGIONAL MANAGER - progressive, growing company
that provides a service to large financial institutions is
seeking a general manager for their midwest region, head­
quartered in Kansas City. Prefer an MBA with sales and
managerial experience.
Salary $40 to $60K
Interested parties should contact Linda Smith. All in­
quiries are confidential.

P.O. Box 12346 - 2024 Swift
North Kansas City, MO 64116
“ Serving the Banking Industry Since 1970”

Vol. 12 No. 43 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306
Fifteenth 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.
Federal Reserve Bank of St. Louis