The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
• Des Moines, Iowa Vol. 10 No. 43 M M Investors Ahead of Inflation I NVESTORS in money market inI struments kept well ahead of in flation in 1981, but long bond in vestors fell sharply behind, accor ding to a study by Salomon # Brothers, international investment banking, market making and re search firm. Entitled “ Relative Values in the 1982 Bond Market,” the report was # written by Henry Kaufman, manag ing director and member of the ex ecutive com m ittee; Richard I, Johannesen, Jr., vice president and manager of the Bond Market • Research Department; Nathan J. Kornfeld, vice president, and Bar bara S. Cannon, research associate. “ The simple strategy of rolling 3-month Treasury bills — insulated & completely from principal fluctua tions — returning a stunning 15 per cent before inflation” which, after adjusting for 1981’s inflation of about 9 percent, resulted in a real ® total return of about 6 percent, ac cording to the report. Total return measures price change plus income as a percent of starting value before reinvestment and taxes. • By contrast, the total return for all 1981 on corporate bonds — as measured by Salomon Brothers’ long-term, high-grade corporate % bond index — was approximately zero, but after inflation, translated into a 9 percent decline in purchas ing power. The Salomon Brothers’ authors stated that, with consumer price in creases possibly slowing for the se cond con secu tive year, “ Real positive interest rates should con tinue in 1982 as the Federal Reserve seeks to limit inflation through periodic efforts to control the growth of money.” In reviewing 1981, they pointed out that, “ Both the rise in long-term interest rates and the grudging decline in short rates combined with a sharp drop in the inflation rate to give investors the largest real returns (before price change) in at least ten years.” Real interest rates, it was noted, peaked during the se cond quarter at 8.78 percent on 1-month commercial paper. The reduction of inflation to about 7 per cent in the fourth quarter produced record real interest rate returns of 8.5 percent on long utility bonds. Volatility will continue to be a hallm ark in the fixed-in com e markets in 1982, the report pointed out. Contributing to wide price swings will be the continuing conflict between the Federal Reserve’s February 15,1982 monetarist policy and expansionary fiscal policy, impaired liquidity in key sectors, and the large yield in ducements to households which will need to finance a significant portion of Federal, state and corporate financing requirements. Prices in the bond markets in 1981 were only slightly less volatile than the previous year, hovering around the very high levels first established in late 1979. Long bond price fluctuations exceeded common stock price volatility for the first time in 1980 — a trend which con tinued in 1981, the Salom on Brothers authors stated. Yield spreads will widen generally in 1982, reflecting either the heavy demand for funds or the unabated credit deterioration in certain private sectors. Yield differences between Treasury bills and short term issues in the private sector, where needs will continue large, will remain historically wide. Quality differentials in yield sp re a d s b e tw e e n ta x -e x e m p t revenue and general obligations bonds will continue to widen further in 1982. The municipal bond market will probably, once again, underper form the taxable market in 1982 and will remain under pressure this year for a number of reasons — lower tax rates, the shift of the financing burden from Federal to state and Don't gam ble w hen choosing a correspondent bonk. Com e to the professionals. For any conrespondent banking need . . . overline assistance, d a ta processing services, investm ent counseling . . . just g ive us a call. W e're the professionals w h o put the response in correspondent banking. ucb CENTRAL OF DES MOINES, N.A. • MEMBER FDIC • TOLL FREE NUMBER (800)362-1615 AFFILIATED W ITH UNITED CENTRAL BANCSHARES. INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Eddie A. Wolf, Sr. Vice President 2 Bemie Kersey C o m e to us we’re first in Iowa because we put Iowa first IOWA-. Désirâmes An Affiliate of Northwest Bancorporation Member FDIC Banco Call (515) 245-3131 or toll-free (800) 362-2514 local levels, the absence of tradi these securities rose to new records, tional institutional buyers and the with GNMA pass-throughs, at over limited opportunities to shorten 18.50 percent, posting a record maturities. Last year, municipal spread above U.S. 10-year Govern □ bond yields rose to record highs — ments. 12.75 percent on new long, prime general obligation bonds and 14.75 Iowa News percent on new long electric revenue ANKENY: Ronald E. Jones has issues. Q uality yield spreads been promoted to v.p. of Ankeny generally widened in 1981 and there National Bank. He has been with were instances when yield spread the bank since 1978 as a loan officer. between “ A ” and “ Aaa” general obligation issues was 1.0 percentage CARROLL: Carroll County State Bank recently prom oted L .A . point or more. Portfolio shifts in the mortgage- Perschau to sr. v.p., Bernard A. related securities markets could Gronstal and Thomas B. Gronstal to develop if the current narrow v.p., Jerome Rolfes and Lois C. spreads among mortgage securities Wiebers to ass’t. v.p. and William widen to offer significant incentive A. Vonnahme to cashier. to pick up yield. Last year, yields on DAVENPORT: First Trust and Savings Bank has announced the promotion of: Kenneth R. Koupal, v.p. and cashier; Neva Washam and Carol Goodyear to ass’t. v.p.; Carol Reed to a.c., and Karen Bonis to manager of the Cumberland Square office, Bettendorf. DYSART: Gayle Griffin, formerly cashier, was promoted to v.p. and cashier, and Joan Barnes, Teresa Plogmann, Susan Wieck and Janis Schneider were all chosen as ass’t. cashiers at New Dysart State Bank. ASK DALE FROEHLICH to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK FA IR FA X : David C. Neuhaus has been promoted to pres, of Fairfax State Savings Bank. He replaces John L. Krall who had been with the bank since its founding in 1924. Mr. Krall is now a resident of Hall Mar. Mr. Neuhaus has been with the bank 28 years and had been exec. v.p. Donald Young was also promoted to v.p. at the bank. to the board. Jim Miller, ass’t. v.p. will assume new responsibilities as commercial loan officer, also at First # National. PERRY: Mel Shanda, pres, of Perry State Bank, recently announced the election of James R. Haas as sr. v.p., ^ Catherine E. Radebaugh as ass’t. trust officer and Ronald K. Raney as loan officer. SEYMOUR: Seymour State Bank recently promoted Chris Davies to v.p. and Marie Stanton to cashier. New cashiers include Barbara Varney and Shirlene Lucas. W ALKER: Lance J. Quigley was recently promoted to v.p. of the Walker State Bank, according to Lee E. Bossom, pres. Mr. Quigley joined the bank two years ago as a.c. % WEST UNION: A t the 48th annual shareholders meeting of First Na- • IIB Reception in Hawaii Members of the Iowa Inde pendent Bankers have been in vited by the I IB to a reception during the annual meeting of the Independent Bankers A s sociation of America in Hono lulu next month. The IIB reception will be held on the Diamond Head Lawn of the Sheraton-Waikiki H otel on Tuesday, March 16, from 5:30 p.m. to 7:00 p.m. Those attending must pur chase a ticket in advance ($15.00 per person) and may obtain tickets by sending a check to the IIB office at 222 Equitable Bldg., Des Moines, la. 50309. Last call for tickets is March 8; no admittance without ticket. "Opportunity T f ) I |cCL ■ 1 WW l9 e e e Robert Scott, Correspondent Danker FORT DODGE: First National Bank recently elected Larry L. Har ris as v.p. and controller, and Paul L. Swenson, Andrew S. Kobs and Patrick E. Fitzpatrick as ass’t. v.p. NEW HAMPTON: Ron Diddy, pres., First National Bank, has announced the appointment of Marlene Diddy to first v.p., and Dan Klenske, v.p., ® Town Clock Plozo. Dubuaue. low o Coll 319-582-1641. COLLECT 3 IR A sign-up time is here! Be prepared with an adequate supply of form s and documents. Now being ordered by banks nationwide. ORDER FORM: IRA S u p p lie s - HR-10 Q u a n tity IRA B roch ure U nit at .16 each at .16 each L a rg er Q u a n tity P r i c e s : 1 ,0 0 0 - 4 ,9 9 9 — 14c each 5 ,0 0 0 and o v e r — 10c each HR-10 B rochure ORDER IN EQUAL AMOUNTS - BOTH ARE NEEDED IRA D is c lo s u r e (2 tw o -p a r t form s) at .3 5 p e r s e t (MINIMUM 25 SETS— ORDER IN SETS OF 25 ONLY) IRA P o l i c y (2 tw o -p a rt form s) (MINIMUM 25 SETS— ORDER IN SETS OF 25 ONLY) at .5 0 p e r s e t W a lle ts f o r IRA Documents at .8 5 each Keogh P lan (H R -1 0 ): Customer b o o k l e t s & form s at 5 .0 0 p e r s e t $ IRA R ep ort t o P a r t ic ip a n t s ( p a d o f 50) at 1 .2 5 p e r pad $ SUBTOTAL S a le s Tax $ (IA/NE ONLY-3%) Check e n c lo s e d B i l l t o bank Date $ *S h ip p in g ALL ORDERS , 19 $ 5 .0 0 TOTAL PLEASE TYPE OR PRINT ALSO AVAILABLE: Bank name and l o g o Im prin t $ 4 0 .0 0 f i r s t 1 ,0 0 0 $ 5 .0 0 p e r 1 ,0 0 0 a b ove 1 ,0 0 0 * * * I n c lu d e bank name and l o g o Bank Name O f f i c e r Name A d d r e s s /C ity /S ta t< ____________ Z ip c o d e Please return to: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STERN 306-15th St. Des M oines, la . 50309 4 tional Bank of West Union, Bruce E. Cannon was promoted to v.p. of the farm department and Kevin Amund son was promoted to ass’t. v.p. and farm rep. Nebraska News ALLIANCE: A t the Guardian State Bank and Trust Co. Jerry L. Beagle was advanced to sr. v.p., and Daisy P. McAndrew and M. Maxine Pokorski were advanced to a.c. Robert L. Lauer will join the bank as of Feb. 15, as ass’t. v.p. He was previously with the local Farmer’s Home A d ministration office. BLAIR: Harold Matney was pro moted to exec. v.p. and elected to the board; Gerald Bruning was pro moted to sr. v.p., and H. Cooper Hanson to ass’t. v.p. of Blair Bank. pagne as auditor. Mr. Champagne will continue to serve as admin, ass’t. to the pres, in addition to his auditing duties. PENDER: Larry Freeman has been elected to serve as exec. v.p. of Pender State Bank. Mr. Freeman has been with the bank since 1979. SCHUYLER: Schuyler State Bank has promoted Larry Bazata from sr. v.p. and trust officer to exec. v.p. and trust officer; Marie Lapacek from v.p. and cashier to sr. v.p. and cashier, and Charles P. Heavican from v.p. to sr. v.p. Minnesota News The Richfield Bank & Trust Co. invites the public to attend a free BUTTE: Dennis Brewster, pres, of sem in ar on “ T he E c o n o m ic Butte State Bank, has announced Recovery Tax A ct of 1981 - Tax the promotion of Gary D. Sedlacek Planning Opportunities,” to be held to exec, v.p., Nadine Liewer to v.p. Thursday, Feb. 25, 7:00 p.m., at the International Airport Holiday Inn. and Bruce Warnke to cashier. Tax specialists from Alexander FREMONT: Clifford C. Cushman Grant & Co. will be conducting the has been promoted from v.p. to v.p. seminar covering both individual and sr. loan officer at the First Na and corporate tax changes. Reserva tional Bank & Trust Company. Mr. tions must be made by Feb. 23 to Cushman has been with the bank 20 the Richfield Bank & Trust Co., years this August. phone 861-7355, Ext. 234 - ask for GRANT: Willard Jackman, chmn. Kay, or by sending your name, ad and ceo of Farmers National Bank of dress and p h on e num ber to Grant, recently retired. He has Marketing Department, Richfield served on the board since 1935, and Bank & Trust Co., 6625 Lyndale was elected pres, upon the death of Avenue South, R ichfield, MN his father, E.E. Jackman, in 1950. 55423. He was elected to his present posi CLARKFIELD: Wesley O. Husby tion of chmn. and ceo in 1971. Mr. was elected v.p. and cashier and Jackman also served as pres, of the Steve Lindholm was elected v.p. of Nebraska Bankers Association for the Farmers & Merchants State one year, 1973-74. He will remain as Bank of Clarkfield at a recent chairman of Grant Bankshares, Inc. meeting. HOLDREGE: Lloyd Scheve was promoted from operations officer to COON RAPIDS: First Mid America v.p. and Janice Swindell was pro State Bank of Coon Rapids has moted from a.c. to cashier at First changed their name to First Bank Security Bank of Holdrege. Coon Rapids. OM AHA: R.K. Flory, pres, and chmn. of First Westside Bank has DEERW OOD: E.N. Skone was announced the flection of Virginia elected chairman and E. Terry Pleiss as v.p. and Kenneth F. Cham- Skone president of the First Na tional Bank of Deerwood. E.N. Skone has been with the bank since Do you have a dress code problem in 1932, most recently as pres. E. your bank? Call us today to find out Terry Skone has held thè title of ex how only $1.00 per day per employee ec. v.p. since 1980. Janice M. will correct it. Habighorst has been named a.c. and ass’t. auditor and John B. Christen son, a.c., also at First Natl. M e A jy c o e k ^ CAREERAPPAREL 523 N. Main St„ Carroll. Ia., 51401 712-792-2748^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis HAW LEY: State Bank of Hawley has made the following changes to its staff: Ronald A. Ulven was pro moted to exec, v.p.; David K. Tuil, v.p. and cashier; Randall S. Alland to ass’t. v.p.; Arlys Engen to a.c., % and Mary Lou Anderson, data pro cessing supervisor. M INNEAPOLIS: The offices of In dependent Bancservices Exchange (INDEX), a subsidiary of the In dependent State Bank of Minnesota, have been moved to 100 Washing ton Square, Suite 1326, Zip 55401. The phone remains the same — 612/333-4375. MINNEAPOLIS: It was reported last week that the FDIC has invited Twin Cities banks, bank holding companies and savings and loan as sociations, as well as similar firms from around the nation, to bid for purchase of the F & M Savings Bank of Minneapolis, which has been ex periencing a financial drain. Michael Pint, Minnesota banking commis sioner, and federal regulators would offer no comment except for Mr. Pint’s statement that F & M would Conscientious Employees Make MyJob Easier. Ed Massanova Supervisor United Engineers Inc As a supervi sor at United Engineers, I work closely every day with people who check their work and pay attention to detail. Some of these fine employees have handicaps. AMERICANS WITH They’ll HANDICAPS work hard for you Because they CAN. Contact your state vocational rehabili tation agency for information. CALL ON THE “PERFORM ANCE TEAM ” where com m on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th &. M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. ^ _ ® • # # ^ 0 continue to do business and will re main open. It was reported that F & M lost $6.5 million in 1980 and $19 million in the first six months of 1981, reducing its net worth to $50 million, of which $10 million is subordinated debt. RUSHMORE: D.C. Shore, pres., was recently elected chmn., Craig L. Korkow, pres, and Eugene Platt, v.p. and cashier of First State Bank of Rushmore. Mr. Korkow joined the bank in March, 1981, as cashier after serving as cashier at Adrian State Bank from 1970-1981. Mr. Platt re-entered banking January, 1982, after operating an office Supp ly Center in Worthington. SAUK CENTER: Loren Beste has been promoted to v.p. of First State Bank of Sauk Center. Mr. Beste joined the bank in January, 1980. ST. PAUL: West St. Paul State Bank Pres. J. Robert Stassen has announced the promotion of Don U n ru h to sr. v .p .; R o b e r t Kristyniak, v.p. and cashier, and Shirley Higginbotham, ass’t. v.p. for customer relations and market ing. WINONA: R.J. Ritter was pro moted from ass’t. v.p. and trust of ficer to v.p. and trust officer; D.F. Kingsley from a.c. to ass’t. v.p., and Sharon K. Hoch from savings department supervisor to a.c. at Merchants National Bank. South Dakota News ^ 9 SELBY: The First National Bank of Selby has announced the promotion o f Murlyn Bickel to pres, and a dir. on the board, Marvin Lutz to v.p. bia Falls (an affiliate of Intermoun tain Bancorporation) for the past ten years, will serve as pres, and a dir. of the Village Bank. Roger Kornder, who has been with the Village Bank several years, will continue as chief exec, officer and dir. Jerry Joy has also joined the bank’s staff as v.p. in commercial loans. He was previous ly with United Bank of Denver. and cashier and Roger Thorstenson to ass’t. v.p. North Dakota News The N orth D akota Bankers Association’s Washington Legisla tive and Administrative Conference has been scheduled for March 30 to April 1. Bankers attending the con ference will be staying at the Hyatt Regency on Capitol Hill. Registra tion forms should be returned to the N D BA office by March 8. Wyoming News TIOGA: Lee B. Nelson was recently promoted to pres, of Bank of Tioga. Mr. Nelson has been employed with the bank since 1973 and served in various capacities, primarily com mercial lending and investments. He has also been on the board since 1971. W ATFORD CITY: David Brendsel was promoted to v.p. and ag loan of ficer and Vicki Karpyak to a.c. at the First International Bank of Wat ford City. Also, Sharon Bratcher, a.c., was named manager and Bar bara Hermanson named assistant at the Alexander branch. Montana News G REAT FALLS: Kent D. Schaefer and Daniel P. Shull have been pro moted to v.p. at First Interstate Bank. Mr. Schaefer has been with the bank since 1974 and Mr. Shull joined as manager of the real estate department. G REAT FALLS: Village Bank was recently purchased by Intermoun tain Bancorporation, a Montana owned Banking Corporation. David A , A n d erson , w ho has been associated with the Bank of Colum EVANSTON: Button South was recently elected chmn. of First Wyoming Bank-Evanston. He suc ceeds David Madia, who has served as chmn. for the past two years. Mr. Madia will remain as a dir. JACKSON: The Jackson State Bank recently elected David R. Lan dis, Robert A. Bovee and Roger Kittleson to v.p. L ARAM IE: Jerry Walker has been prom oted to v.p. of Bank of Laramie. He joined the bank in 1980 in commercial loans. RAW LINS: Chris Erickson was recently elected a.c. at The Rawlins National Bank. SHERIDAN: Bank of Commerce has named James M. Taylor as a v.p. He has been cashier of the bank since 1975. W H EATLAN D : First W yom ing Bank has announced the election of Ken Kennedy as chmn. He succeeds A.H. Trautwein who resigned as chmn and dir. Mr. Trautwein pur chased the bank in 1967 and served as pres, and chmn. until 1970, when he became a member of Wyoming Bancorporation. He continued as chmn. of the bank until his recent resignation. Call our Bond Department Getting it done for you. Tom Steffens Vice President John Henderson Vice President Tony Paugoulatos Jim McLaughlin Asst. Vice President Asst.Vice President Dave W Htenbom Bond Officer Rick Patton Bond Representative 234-2462 234-2463 234-2647 234-2691 234-2877 234-2673 Commerce Bank of Kansas City https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis member fdic V 10th and Walnut (816) 234-2000 WANTADS Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. TIME - TEMPERATURE Solid State Display One Year Guarantee 30" x 96" Complete Sign NORTHWESTERN BANKER 306-15th Street Des Moines, Iowa 50309 ______________Phone 515/244-8163______________ $2,895.00 UNITED SIGNS, INC. (308)384-0111 321 N. Eddy St. P.O. Box 263 Grand Island, NE 68802 SERVING PROFESSIONALLY Banking, Financial & Business Personnel, Iowa and Nationwide Capital Personnel Service SKI THE SUMMIT!!! 714U.C.B. Building, 515-283-2545 Des Moines, Iowa50309 N e w , th re e -b e d ro o m , th re e -b a th u n its a vailab le for sale or rent. Each unit has its ow n redwood hot tub on the deck. C ontact; BANKERS AVAILABLE Dwayne Smith If you are seeking a qualified officer for your bank, we have the top applicants in the midwest. Listed below are a few of our current applicants: P aradise Properties, P.O. Box S D illon, C olo rado 80435 Phone: 303/468-5846 or Ann M arie Phone: 303/468-2740 CEOs with heavy ag lending exp...................................... to $50,000 Commercial Lenders...................................................... to$32,000 Ag Lenders..................................................................... to$25,000 Generalists (Operations/Lending).................................. to$36,000 BANKING CAREERS Operations/Cashiers.......................................................to$28,000 If you are currently employed and wish to evaluate Installment Lenders........................................................ to $25,000 your career potential, my organization has open Trust Officers................................................................. to $30,000 ing in the $12,000 to $40,000 range banks throughout the Midwest. All positions Job Orders Write or call Malcolm Freeland, Freeland Financial Ser #190-367 are employer paid. Call or write Jim vice, Inc., 246 Insurance Exchange Bldg., Des Moines, Hogan, Dunhill, Suite 1122, 706 Second Ave. Iowa 50309. 515/282-6462. Describe your needs, and we South, Minneapolis, MN 55402. (612) 333-6451. will assist you. Employer pays reasonable fee. FOR SALE BANKING GRADUATES Banking graduates from Iowa Central Community College, Fort Dodge, Iowa. Course work includes: AIB and other courses pertinent to banking plus a summer on-the-job training session in a bank. Students earn 67 semester hours which leads to an Associate of Applied Science Degree. Contact the Placement Office or Forrest B. Johnson, Bank ing Coordinator, Iowa Central Community Col lege, 330 Ave. “ M” , Fort Dodge, Iowa 50501. Phone (515) 576-7201. (PW) BANKSFORSALE BANK OWNERSHIP CHANGES —Our Specialty— SELLERS - if you already have a buyer for your stock and there is a question of whether or not it is a fair price - we can make an indepen dent appraisal. BUYERS - if you are about to purchase controlling interest in a bank and there is a question of whether or not it is a fair price - we can make an independent appraisal. Those wishing to buy or sell - we can do the job for you if you are serious. Reconditioned NCR 299 Posting Machines for; G/L Dally Stmt, Loans. Excellent condition, programmed, and In stalled. Phone 307/634-7402. (FS) Kodak microfilmers and reader/printers reconditioned. Ready for immediate delivery. Phone UMICO, Inc., (816) 474-6164. (FS) FOR SALE OR LEASE PERMANENT OR TEMPORARY - Sale or lease financial facilities. Available immediately: 14’x60’ in Nebraska; 14'x50’ with 2 DUWs in Illinois; 14’x60’ mobile-type in Missouri; 9’x12’ teller buildings available, 14’x60' In Wyom ing. Permanent facilities to 4000 sq. ft. SON CORPORA TION, Box 684, Wichita, KS 67201. Phone (316) 942-8167, call collect. (FSorL) WANT TO BUY High performance midwest bank president looking for bank to purchase. Cash or contract In NE, IA, KS, or MO. Bank size $10 million to $100 million. All replies confiden tial. Write file PBJ, c/o Northwestern Banker. (WTB) 325 W . Prospect Avenue Mt. Prospect, Illinois60056 (312)392-5151 <M M I iMM> <M I W H ® Bank Division R O B E R T MCVLF of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID BANK PLACEMENT SPECIALISTS (Our33rdyear) Call experienced professionals to locate the right candidate for your vacancy . . . or the right “move-up” for yourself. CORPORATE RECRUITERS MIDWEST BANKING DIVISION 202 S. 71 st Street 402/393-5515 Omaha, Nebraska 68132 POSITION AVAILABLE Small, clean, high performance South Dakota bank look ing for aggressive young man to fill second man position and to assume C.E.O. position within 2 years. Must be strong in ag loans, operations and insurance license is desirable. Salary open. Send resume to file PBI, c/o North western Banker. All replies confidential. (PA) LOAN OFFICER for smaller suburban bank. Three to five years installment and collection experience. Other ex perience a plus. Contact Roger Petersen, VP/Sr. Ln. Off., First Nat’l Bank, P.O. Box 65010, West Des Moines, Iowa 50265. (PA) INSURANCE AGENT—Immediate opening for an Agency Manager in Western Nebraska. Excellent opportunity. Ex perience required. Salary open. Write file PBL, c/o North western Banker. (PA) OPERATIONS OFFICER—$40 million northwestern Il linois community bank needs an operations officer with 3-5 years solid operations experience. Excellent oppor tunity In a good rural community. Call Andy Rogers, First National Bank, Galena, Illinois 61036. Phone (815) 777-0344. (PA) COMMISSIONED SALES REPRESENTATIVE to market monthly farm newsletter to banks and related businesses. Excellent commission. Protected territories. Please send resume or call James Coyne, Farm Progress Company, 2001 Spring Road, Oak Brook, IL 60521. Phone 312/323-3800. (PA) POSITIONS AVAILABLE PRESIDENT—opening in Rocky Mountain state for ex perienced administrator with strong AG Lending skills. Prefer cattle and feeder-lot financing expertise. $35,000 Whan it comes to agricoltore, bonking and personnel. . . go to the specialists — go to AGRIcareers, Inc. Progressive bankers pay us to find the people they need. Ag Lend. Off.............. Cent. W l. $16-22,000 Cred. Mgrs. (2)............. Cent. IA . $20-23,000 Ag Loan Off. (2).................... IA . $20-25,000 Ag Loan Off........................MN . $20-23,000 Cred. Supv. & Anal................ IA . $18-22,500 Branch Mgrs. (2).................NE . $18-25,000 Serving Banks throughout the Midwest. 301 N. A nkeny B lvd., Suite 2 2 0 A nkeny, Iowa 5 1 5 -9 6 4 -1 3 5 8 AG LENDER—Aggressive $100 million south central Nebraska bank searching for individual degreed in Ag Economics or finance. Must have 3 yrs Ag Lending exp. Young staff, wanting to bring some maturity aboard. $25K. COMMERCIAL LENDER—Eastern Nebraska bank near Omaha, seeks highly seasoned commercial lending ex pert. 5 + yrs exp and Ag exposure a must. $30-$35K. CONTROLLER—rural $30MM bank has an opening for an operations specialist w ith a strong accounting background. $28,000 flUTDmflTED svsiEms “When it co m e s to your insurance needs we put SERVICE first.” FINANCIAL MANAGEMENT OFFICER—Eastern IA bank in immediate need of 4 + yrs CPA seasoned in acctg and controller type work. Assignments include financial plann ing—financial institutional bkgd a must. $25-$30K. SR. LENDING OFFICER—$25 MM suburban bank desires experienced commercial lender to supervise all lending personnel. $38,000 CROWN BANKING SERVICES □F m j f u n c . PARTIAL LIST OF AVAILABLE POSITIONS Now available Ask the ag banking specialists what’s available without cost or obligation. NEW HAMPTON. IA 50659 MASSENA. IA 50853 1(5 15)394-3145 (712)779-3744 aqnc4REBis,iNC. “ THE ORIGINAL AGRICULTURAL RECRUITER CASHIER—take charge of all internal operations, reports and accounting functions for small metro-area bank. $26,000 COMMERCIAL LOAN OFFICER—progressive $200MM bank that can provide advancement opportunities seeks an addition to staff. Degree and minimum 3 yrs. ex perience required. $30,000 TRUST OFFICER—generalist position available in medium size rural bank. Law Degree and 2 yrs. or more bank trust experience preferred. $25,000 If you are considering new career opportunities, contact us. Resume and salary requirements requested. TOM HAGAN & ASSOCIATES of Kansas City P.O. Box 12346, 2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 10 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, $15.00 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
@FedFRASER