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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 biU. LB 1051 before the education committee, which would allow s&ls to get school district funds, likewise L 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 watching. 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 SPRENGER ROWLAND AND Getting MESSINA it done for you. ¿2£* ^ ^ Bill Sprenger Frampton Rowland John Messina 234-2625 234-2485 234-2486 Commerce Bank of KansasatyA https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC T o lp n h n n o Telephone o ^ A -o n n n (816) 234-2000 w Norwest Bank Des Moines , N.A. Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS 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 ates. 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 facilities. The Minnesota legislature does ASK JOHN MANGOLD to make MNB work for you. Toll free 1- 800- 332-5991 Merchants ^ National Bank 151 Member F.D.I.C. A BANKS OF IOWA’ BANK https://fraser.stlouisfed.org 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------------- . 3 CALL ON THE “PERFORM ANCE TEAM ” where common transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 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 officer. 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 Minneapolis. 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. SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 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 ♦ https://fraser.stlouisfed.org 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 I V- 4 SKI THE SUMMIT One, two and three bedroom units for sale or rent. Most with hot tubs. Phone 1-800/922-2590. Dwayne Smith PARADISE PROPERTIES 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 POSITION AVAILABLE 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) Banker. 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. (PA) REAL ESTATE LOAN OFFICER—With Eastern Iowa bank 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. AN EQUAL OPPORTUNITY EMPLOYER.___________ (PA) 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. (PA) 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. (PA) 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. (PA) Linda: 515/394-5827 Jean 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 I Massena, Iowa 50853 aOJ1G4RraS,INC. J THE ORIGINAL AGRICULTURAL RECRUITER. 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 ^ ATTENTION APPLE II USERS 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 FOR SALE BURROUGHS MODEL 8809 CHECK DISBURSER. Recondi 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) BANK MICRO/MINI COMPUTER PROGRAMS—Apple (tm)/ 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 (FS) B-80 BURROUGHS SYSTEM—including line printer, crt, and journal printer. Available immediately. Citizen State Bank, Clearwater, Nebraska. Phone 402/485-2216 ask for Dean. (FS) HOTEL MANAGEMENT CORPORATION 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 the professionals. Specialist in Troubled Properties 6111 Fleur Drive Des Moines, IA 50321 Telephone 515/287-5644 Estate Appraisals Purchase of Collections Sale of Rare Coins Reliable and respected service for oyer 20 years Used by bankers throughout the midwest Ben E . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 OF DES MOINES. N A ■ MEMBER FDIC ■ (SIS) 245-7111 TOLL FREE NUMBER ( 800) 362-1615 POSITIONS AVAILABLE 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. TOM HAGAN & ASSOCIATES P.O. Box 12346 - 2024 Swift North Kansas City, MO 64116 816/474-6874 “ 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ^ •
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