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h 10
11 V 1
FEBRUARY

1984

1984

Mortgage
Outlook
New Orleans
Hosts IBAA
Money
Handling
Equipment
Guest
Editorial
Phoenix Site
of Two ABA
Conferences

Proposed Iowa World Trade Center

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

m ■it


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

DA GRETTEN

JERRY TR

JOHN MANGOLD

M erchants National Bank is i


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Cedar Rapids, Iowa 52401

A BANKS OF IOWA' BANK

4

ON THE COVER

NOmOTERN
FEBRUARY 1984 • 91st Year • No. 1445
MEMBER OF AUDIT BUREAU OF CIRCULATION
MEMBER BANK MARKETING ASSOCIATION
OLDEST FINANCIAL JOURNAL SERVING THE CENTRAL AND WESTERN STATES

FEATURES

15

Phoenix site of ABA meetings

Community and corporate bankers meet at the same hotel

17

1984 mortgage outlook

Leon T. Kendall assesses potential for growth

18

New Orleans hosts IBAA

Government officials to address 54th annual convention

20

Money handling equipment

First Wisconsin officials details Brandt advantages

21

A “Guest” editorial

Dale Dooley of ITS seeks national generic logo

23

Letter to the editor

Nebraska banker comments on bank insurance coverage

24

Walter Minger retires

One of nation’s leading ag bankers hangs up his boots

DEPARTMENTS
6
12
27
29
32
38
39
42

Bank Promotions
Calendar
Illinois
Minnesota
Twin Cities
Wisconsin
South Dakota
North Dakota

44
45
45
49
50
54
57
68
70

Montana
Wyoming
Colorado
Nebraska
Omaha
Lincoln
Iowa
Des Moines
Index of Advertisers

NORTHWESTERN BANKER
306 15th Street, Des Moines, Iowa 50309

Phone (515) 244-8163

Publisher & E ditor

A ssociate Publisher

A ssociate E ditor

Consultant

Ben Haller, Jr.

Steve Burch

Becky McBurney

Malcolm K. Freeland

No. 1445 Northwestern Banker (USPS 397-620) is published monthly by the Northwestern
Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscription $1.50 per
copy. $18 per year. Second Class postage paid at Des Moines, Iowa and at additional
mailing office. POSTMASTER: Send all address changes to Northwestern Banker, 306
Fifteenth Street, Des Moines, Iowa 50309.

Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Details of a proposed Iowa World
Trade Center Des Moines were an­
nounced last month by Governor
Terry Branstad and businessm #
John Ruan at a press conference at­
tended by business and government
figures from throughout the state.
Cost of the proposed Trade Center
is listed as $75 million and it #>
hoped that $30 million of that will
come from the State of Iowa, with
the balance furnished by the private
sector.
The Trade Center, which is sup­
ported by the joint legislative
leadership, is planned as a joint ef­
fort linking public and private sec­
tors for the benefit of all Iowans,
Gov. Branstad said.
®
“Building the Center and coor­
dinating marketing activities will in­
crease trade opportunities and sales
for Iowa products and services
throughout the world,” the G ovctnor noted.
Iowa exported some $5.5 billion
worth of goods and agricultural
commodities in 1982. However,
Gov. Branstad said, “ Increase
pressure from other states and other
nations—notably Japan and the
European Economic Community
countries—will require us to sdl
even harder just to keep our share m
future years. An Iowa World Trade
Center will help us remain com­
petitive and foster economic growth
for our people,”
^
Increasing exports will play a ma­
jor role in creating thousands of new
jobs for Iowans, the Governor con­
tinued. “This will help keep our peo­
ple here, particularly our wqjjeducated young people who are now
leaving for career opportunities else­
where. ’’
The proposed Iowa World Trade
Center will be adjacent to the Cq^vention Center now under construc­
tion in downtown Des Moines. The
Trade Center will be linked by skywalk to hotels, restaurants, down­
town businesses, entertainment a ^ i
recreational facilities.
Architectural drawings unveiled
by Mr. Ruan showed a one millionsquare-foot building featuring a
10-story skylighted atrium to sho#case displays of Iowa products.
Rising above is a 20-story tower
with office space for agricultural and
ON THE COVER. . .
(Turn to page 70, please)


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Federal Reserve Bank of St. Louis

6

W(/>

Bank Prom otions

(3 DC
< L U

COH

ROMOTIONS and other an­
nouncements have been made
P
by the following banks:

C/)Z

LULU
O
Milbank, SD
Triangular free-standing
display.

A * 4.1I«
SB*,-'
¡fe. *-«
Bethany, MO
Corner mounted
two-faced.

Brainerd, MN
Free-standing display.
Our engineers will custom
design a display to
enhance the architecture
of your building. Color
drawing and quote at no
cost. Call collect or write
today —

D

DAKTRONICS
INC.

DAKTRONICS, INC. Box 128
Brookings, SD 57006
Ph. 605/692-6145
TOLL FREE 800/843-9879
(exc. AK, HI and SD)
TELEX 29-5013 DAKTRONCS BKNG


Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Centerre Bank, St. Louis; William
E. Maritz, chairman and chief ex­
ecutive officer of Maritz Inc., and
William G. Tull, senior executive
vice president of the bank, have
been elected to the bank’s board of
directors.
In addition, Richard J. Mahoney,
president and chief executive officer
of Monsanto Company, has been
elected to the board of the holding
company, Centerre Bancorporation.
Commerce Bank, Kansas City:
Four Commerce banks in Kansas Ci­
ty metropolitan area merged with
Commerce Bank of Kansas City,
N.A., January 1. As a result, the
new Commerce Bank of Kansas City
has 12 banking offices and 11 Con­
nection 24 ATMs. Three offices are
downtown, one at 89th and State
Line, three in Independence, and one
each in Grandview, the Plaza,
Brookside, Blue Hills and Martin Ci­
ty.
Continental Bank, Chicago: The
following officer promotions were
announced last month.
Richard J. Anderson, audit, and
Craig D. Elderkin, credit risk evalu­
ation, were elected vice presidents.
Newly-named second vice presi­
dents are Marsha M. Brown and
Maureen Kearney, credit risk evalu­
ation; Jesse W. Wright, economic re­
search, and Phyllis A. Hynes, John
W. Slocum and John A. Zoric, finan­
cial information services.
Federal Reserve Bank of Chicago:
Stanton R. Cook, president and chief
executive officer of The Tribune
Company, has been named chairman
of the Chicago Fed for 1984. Edward
F. Brabec, business manager of the
Chicago Journeymen Plumbers, Lo­
cal 130, has been named deputy
chairman.
First National Bank, St. Joseph,
Mo.: Several promotions were an­
nounced recently by W. Dale Maud­
lin, president and chief executive of­
ficer. H. Kenneth Gilpin, Jr., was ad­
vanced to executive vice president,
and James Michael Cox to senior
vice president.

j

Mr. Gilpin formerly was senior
vice president and operations divi­
sion head. He is now responsible for
administering and coordinating the
functions of both the lending ancr
operations areas. Mr. Cox succeeds
him as operations division head,
with responsibilities in the data pro­
cessing, bank operations, purcha^
ing and funds management area?
Mr. Gilpin began his banking career
in 1967. Mr. Cox joined First Na­
tional in 1981 after 10 years bank
experience.
^
Ronald Worley was named vice
president and data processing man­
ager. He joined the bank in 1973.
Named assistant vice presidents
were Robert D. Holt, Judy Leiim
bach and Dennis Mires. Mr. Holt
joined the bank in 1976 and transfer­
red to the ag/correspondent depart­
ment in 1982. He will continue serv­
ing correspondent banks an ag r£
lated lending. Ms. Leimbach joined
the bank in 1961 in bookkeeping.
Her most recent post has been credit
administration officer. Mr. Mires,
with the EDP department sin<^
1976, is responsible for the 24-hour
operations of the computer area.
Other promotions include Bob
Thomas to systems program man­
ager; Monica Consodine to a ssista^
investment officer, and Mark Thomp­
son to ag loan officer in the ag/corre­
spondent department.
At the affiliated First Stock
Yards Bank, Chairman John M
Kara made these announcements:
David Colboch to assistant vice
president and Larry Gardner to as­
sistant loan officer. Mr. Colboch will
be involved with public relation®
and calling programs for the bank.
Mr. Gardner, who was formerly em­
ployed in the consumer finance in­
dustry, is assigned to retail banking
Northern Trust Company, Chica­
go: Newly elected senior vice presi­
dents are William A. Osborn, natu­
ral resources division, commercial
banking department, and Ann 1^
Byrne, financial planning and con­
trol division, trust department.
Advanced to vice presidents were:
Peter L. Biegel and Lorraine M.
Reepmeyer, financial analysis d i ^
sion, and John F. Klopp, natural

7

When Guaranty Bank of Dallas moved to
% Travelers Express for their Money Order
and Official Check programs, they left
the time and cost of the backroom
paperwork behind them. For over eight
years, Travelers Express has done the
^ reconciling, storing, tracing, and stop
^ payments, while Guaranty retained
control and earned more cash income.
The right move for Guaranty can be the
right move for your institution, too.

Travelers Express Money Orders are
supplied to you at no cost, so you have
a profit-making system with no invest­
ment. Travelers Express receives a
minimal fee for each money order
issued, while you determine your
customer charge.
Travelers Express Official Checks are an
unlimited-amount item that substitutes
for your present authorized checks. You
earn income with increased balances
and cash income from the program. Just

as important, you reduce the operating
expenses of backroom paperwork.
And, Travelers Express does not com­
pete for your customers’ attention.
Were Travelers Expressly Working for
You—with over 100 representatives
nationwide.
Make the right move with your remit­
tance programs. Call Donald Dix, Vice
President of Sales, 1/800-328-5678.

Travelers Expressly Working For You®

^Travelers Express
A G REYH O UN D

COMPANY

'

5075 Wayzata Boulevard, Minneapolis MN 55416

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Northwestern Banker, February, 1984

If your primary correspondent
doesn’t call as often
as you’d like, call
First Bank M inneapolis*


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

To find out how often you
wanted to see your primary corre­
spondent, we took the direct approach.
We asked.
And most of you said three or
four times a year.
Then we realized that few, if
any, major correspondent banks had
enough calling officers or support
staff to pull that off. We knew we didn’t.
So again, we took the direct
approach. We reorganized our
Correspondent Banking Department
and increased our staff of professionals

in every area. So all our primary
correspondent bank around, you’re
respondents will see us as often as
getting the right idea.
they’d like.
First Bank
We now field the largest force
of correspondent calling officers,
Minneapolis
bond and money market specialists,
Correspondent Banking
data processing professionals and
Department
cash management consultants in the
Upper Midwest. Experienced people
First Bank Place
trained to know you and your markets.
Minneapolis, MN 55480
And all because that’s what
612/370-4762
you’ve asked for.
So if you’re getting the idea
that we’re the most responsive
W

We are w hat you want a correspondent bank to be.,

m ?
JÊÊÊP

i
■

f.

\

•*
■

k
I

,

I


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

>6 > J j

10

resources division, commercial
banking department; Ian G. Clark
and John R. Gibbard, London
branch, and Leonard H. Peifer,
Hong Kong branch, international
department; Linda S. Harms, infor­
mation systems and services divi­
sion, and Susan E. Lee, cash man­
agement division, operating depart­
ment, and Constance F. Magnuson,
corporate and institutional market­
ing division, Ronald G. Szafranski,
master trust administration divi­
sion, and Thomas F. Lasko, personal
trust division, trust department.

Harris Shareholders OK
Deal with Bank of Montreal
Harris Bankcorp Inc. of Chicago
announced that in excess of 5,553,000
shares, representing approximately
83.5% of its outstanding common
stock, were voted at a special meet­
ing of shareholders last month in
favor of a proposal for the acquisi­
tion of Harris by the Bank of Mon­
treal.
As previously announced, the ac­
quisition is to be accomplished by
the purchase of all Harris common
stock for $82 per share in cash.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BMA Slates CEO Seminar March 25-28*
EVELOPING marketing pro­
D
grams that are both profitable
and responsive to customers’ needs
is the doubly challenging assign­
ment that will be tackled by chief ex­
ecutives of community banks at
Bank Marketing Association’s an­
nual CEO Seminar slated March
25-28 at M arriott’s Marco Beach Re­
sort on Marco Island, Fla.
The three-day program is entitled
“Striving for Excellence: Lessons
for America’s Best-Run Community
Banks.’’
James H. Donnelley, professor of
business administration at the Uni­
versity of Kentucky, Lexington, will
deliver the keynote address on
“Marketing: Forget, for the Mo­
ment, You Ever Heard the Word,”
on Monday, March 26.
Follow ing Mr. D o n n elley ’s
remarks, three community bankers
Completion of the acquisition re­
quires appropriate regulatory ap­
proval, which is expected later this
year, according to B. Kenneth West,
chairman and chief executive officer
of Harris.

will share their firsthand ex­
periences in using outside “efficien­
cy experts” to answer the questions:
“ Do outside efficiency expert^
achieve results? How do they do it,
and what happens in the process?”
The first day’s program will wind
up with a two-hour session devoted
to the sharing of profitable ideaa^
Participants in the roundtables are
required to contribute one success
story and one question. Among the
topics attendees may choose from:
Increasing loan and investm ent
yields, diversifying the bank, officer
call programs, and incentive com­
pensation.
Leading off the second day will be
Chicago consultants Jack W hittl#
and Douglas Hanks on “How To
Make Different Better: Marketing
O pportunities for Community
Banks.”
Roger D. Blackwell, a populat
speaker and professor of consumer
research at Ohio State University,
Columbus, will discuss the values of
current and future customers that
affect their decisions on the use dP
financial services in a presentation

11

entitled, “Changing Consumer Life­
s ty le s .”
“High Performance Pricing in the
New Environment—New Services
and Loans” will lead off the final
day of programming. To discuss
® ricing is Alex A. Sheshunoff &
Company, Austin, Tex. What “mega­
trends” mean to banking will be
analyzed by William H. Doughty,
^hairm an of Quantum Financial Cor^poration, Los Angeles.
One seminar session will be de­
voted to how one community bank
successfully addressed the area of
^luman resources, plus a discussion
of employee selection, performance
evaluations, and compensation
plans.
Another speaker on the final day
^ f the conference will be Capt.
Uerald L. Coffee, commander-in­
chief of the Pacific Fleet in Pearl
Harbor. He will focus on the lessons
he learned while being held prisoner
^ f war for seven years in North Viet­
nam.
Also at the seminar will be a dis­
play of winners of BMA’s “Best of
Print” bank advertising awards.
0 For more information on the CEO
program, contact Ellen Wrend, di­

rector of BMA’s Community Bank
Department at 312/782-1442.

EMC Insurance Group Buys
Farm and City Insurance Co.
Farm and City Insurance Co., Des
Moines, has been acquired by EMC
Insurance Group Inc., Des Moines.
EMC Insurance Group Inc. is a
Des Moines-based holding company
that has subsidiaries in property
and casualty insurance, life insur­
ance and reinsurance fields. Pur­
chase price was $8.6 million, subject
to year-end accounting adjustments.
Farm and City has operated since
1962 as a writer of nonstandard auto
insurance, primarily to provide a
market for such business for in­
dependent local insurance agents.
The company will continue to do so,
with operations and present staff
continuing at its 1300 Woodland
Ave., West Des Moines, location.
In the past, most (over 80 percent)
of its business has been concen­
trated in Iowa. The company also is
licensed to do business in Nebraska,
South Dakota and Kansas, where
management sees opportunities to
extend the nonstandard auto in-

surance facilities to more local
agents, according to Robb B. Kelley,
chairman and chief executive officer
of EMC Insurance Group, Inc.

Lew Jenkins Heads Statue
of Liberty Restoration
Llewellyn Jenkins, who retired
January 1 as vice chairman of Man­
ufacturers Hanover Trust Company
in New York, has accepted an ap­
pointment as executive director of
the Statue of Liberty-Ellis Island
Foundation, Inc., the operating arm
of the Statue of Liberty-Ellis Island
Centennial Commission.
Mr. Jenkins will be responsible
for managing the restorations of the
national monuments and the contri­
butions being solicited from private
citizens, corporations, trusts and
foundations as part of a $230 million
national campaign. These efforts are
aimed at completing restoration in
time for the centennials of the Stat­
ue of Liberty in 1986 and Ellis Is­
land in 1992.
Mr. Jenkins’ appointment was an­
nounced by Lee A. Iacocca, chair­
man of the Centennial Commission
and of Chrysler Corporation.

Frank Bauder. Jim Carmody. Kathy Hardy.
Andy Ruments. Max Roy. John Crotty.
Names synonymous with correspondent
banking. More specifically, with correspondent
banking at Drovers. Almost 150 years combined

Knowledgeable years... handling Overline
Loans, Capital Requirements, and now such
new services as discount brokerage. So
consider Drovers for your correspondent needs.
You’ll find a continuity of policy. And a
continuity of people. Like Frank. And Jim.
And Andy. And Kathy. And Max. And John.
Call toll-free 1-800-621-8991.
^ 3 1 - 8 0 0 - 5 2 7 - 2 4 9 8 .

if»v Drovers Bank

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

47th & Ashland Ave., Chicago, IL 60609 • 1-312-927-7000.
MEMBER FEDERAL RESERVE SYSTEM AND FDIC.

12

C onvention Calendar
ABA—American Bankers Association
AIB—American Institute of Banking
BAI— Bank Administration Institute
BMA— Bank Marketing Association
IBAA— Independent Bankers Association
of America
NABW— National Association of Bank
Women, Inc.
RMA— Robert Morris Associates

National Conventions & Schools
Feb. 26-29— BMA Electronic Banking Con­
ference, Buena Vista Hotel, Orlando, Fla.
Feb. 26-29—ABA National Assembly for
Community Bankers, Hyatt Regency,
Phoenix.
Feb. 29-Mar. 2—ABA National Credit and
Correspondent Banking Conference,
Hyatt Regency, Phoenix.
Mar. 4-7— BAI Bank Security Conference and
Exhibition, Washington, D.C.
Mar. 11-13— BMA Corporate Marketing Con­
ference, The Fairmont Hotel, Denver,
Colo.
Mar. 11-14— RMA Credit Department Man­
agement Workshop, Atlanta.
Mar. 18-21 — RMA Financial Statement Anal­
ysis Workshop, Denver.
Mar. 18-21—ABA National Automated Clear­
ing House Association Conference, Fair­
mont Hotel, New Orleans.
Mar. 25-28— BMA Community Bank CEO
Seminar, M arriott’s Marco Beach Resort,
Marco Island, Fla.
Mar. 25-28— BAI Bank Auditors’ Conference,
New Orleans.
Mar. 25-29— IBAA Annual Convention, New
Orleans Marriott, New Orleans.
Apr. 1-4— BMA Advertising Conference,
Grand Hyatt Hotel, New York.
Apr. 8-11—ABA National Retail Banking
Conference, New York Hilton.

State Conventions & Schools
Colorado:
Feb. 19-21—CBA Consumer Banking Con­
ference, The Broadmoor, Colorado Springs.
Mar. 4-6—CBA Washington Legislative Visi­
tation, Washington, D.C.
Apr. 8-10—CBA Agricultural Banking Con­
ference, Four Seasons Hotel, Colorado
Springs.
May 3—CBA Investment & Funds Manage­
ment Conference, Denver.
May 10-11—CBA/BMA Marketing Confer­
ence, Colorado Springs.
June 7-9—CBA Annual Convention, The
Broadmoor, Colorado Springs.
Illinois:
May. 13-18— Illinois Bankers School, Illinois
State University, Normal.
May 20-June 1— A g ric u ltu ra l Lending
School, Southern Illinois University,
Carbondale.
June 3-8—Illinois Graduate School of Bank­
ing, Illinois State University, Normal.
June 3-8—IBA Advanced Ag Lending Clinic,
Illinois State University, Normal.
June 13-15 — IBA Annual C onvention,
Peoria Convention Center, Peoria.
June 17-23— IBA Consumer Lending School,

Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

j

University of Illinois, Urbana.
Sept. 23-25— ICBI Tenth Annual Convention,
Indian Lakes Resort, Bloomingdale.
Iowa:
Feb. 19-20—Group 11 Meeting, Burlington.
Feb. 22-24— IBA Midwinter Management
Conference, Colorado.
Mar. 19-21 — IBA Ag Credit Conference,
Ames.
Apr. IBA Chief Executive Officers Confer­
ence, Des Moines.
Apr. 7-11 — IBA Washington, D.C. Trip.
May 7—Group 6 Meeting, Des Moines.
May 8—Group 8 Meeting, Iowa City.
May 9—Group 7 Meeting, Waterloo.
May 10—Group 4 Meeting, Dubuque.
May 14—Group 5 Meeting, Council Bluffs.
May 22—Group 2 Meeting, Fort Dodge.
May 23—Group 12 Meeting, Okoboji
May 24—Group 3 Meeting, Clear Lake
June 17-22— Iowa School of Banking, Iowa
City.
July 19-21 — Iowa Independent Bankers An­
nual Meeting & Convention, The New Inn,
Okoboji.
Sept. 16-18— IBA 98th Annual Convention,
Des Moines.
Minnesota:
Mar. 29— MBA Marketing Conference, Hyatt
Regency, Minneapolis.
Apr. 5-6— NABW Minnesota State Confer­
ence, Registry Hotel, Bloomington.
May 9— MBA Investments and Funds Man­
agement Conference, Hilton Inn, Min­
neapolis.
May 15-18— MBA Washington Legislative
Conference, Washington D.C.
June 11-13—MBA Annual Convention, Radisson St. Paul Hotel.
June 24-29— MBA Minnesota School of
Banking, St. Olaf College, Northfield.
July 22-27— Midwest Banking Institute, Uni­
versity of Minnesota, Morris.
Aug. 12-17— MBA Commercial Lending
School, St. Olaf College, Northfield.
Aug. 12-25—Graduate School of Banking,
University of Wisconsin, Madison.
Aug. 22-25— Independent Bankers of Min­
nesota Annual Convention, Breezy Point
Resort, Pequot Lakes.
Montana:
May 24-25— MBA Trust Conference, Heri­
tage Inn, Great Falls.
June 23-30— MBA Annual Convention, Big
Sky.
Nebraska:
Feb. 26-Mar. 2—Schools of Banking Basic
School, 1st Session, Regency West,
Omaha.
Feb. 28-29— NBA Personnel Conference,
Kearney Ramada Inn.
Mar. 7-8— NBA Trust Conference, Colum­
bus Holiday Inn.
Mar. 18-23—Schools of Banking Intermediate
School, 1st Session, Regency West,
Omaha.
Mar. 21-22— NBA Ag Outlook Conference,
Kearney Holiday Inn.

Apr. 8-13—Schools of Banking CommerciaL
Lending School, Regency West, Omaha®
May 2-4— NBA 87th Annual Convention,
Lincoln Cornhusker.
June— NBA Presidents Golf Tournament,
Lochland Country Club, Hastings.
June— NBA Washington Trip.
July 8-13—Schools of Banking Trust S c h o o *
Rodeway Inn, Overland Park, Kansas.
Sept. 9-14—Schools of Banking Basic
School, 2nd Session, Rodeway Inn, Over­
land Park, Kansas.
Sept. 23-28—Schools of Banking IntermedL
ate School, 2nd Session, Rodeway In r ^
Overland Park, Kansas.
Oct. 14-19—Schools of Banking Advanced
School, Regency West, Omaha.
North Dakota:
£
Feb. 15-17— Bank of North Dakota MidWinter Break, Bismarck.
Mar. 5-8—ABA/NDBA Community Bank Ex­
ecutive Development Program, Hyatt
Regency, Minneapolis.
Apr. 2-4— NDBA Washington Visit, L-E nfar^
Plaza, Washington.
Apr. 9-11 — NDBA Head Teller Workshop,
Jamestown.
Apr. 25-26— NDBA/SDBA Trust Conference,
Holiday Inn, Fargo.
May. 8-9—NDBA Agricultural and Consume^
Credit Conferences, Sheraton Inn, Minot.
June 3-8— NDBA School of Banking, Univer­
sity of North Dakota, Grand Forks.
July 5-7—Dakota Bankers Centennial Con­
vention, The Broadm oor, C olorado
Springs.
£
South Dakota:
Apr. 2-5—ABA South Dakota Legislative
Trip, Wasington D.C.
Apr. 11-12—SDBA Ag Credit Conference,
Kings Inn, Pierre.
0
Apr. 25-26—SDBA/NDBA Trust Conference,
Holiday Inn, Fargo.
May 20-25—SDBA Officer Training School,
University of South Dakota Campus, Ver­
million.
July 5-7— Dakota Bankers Centennial C o n ^
vention, The Broadm oor, C olorado
Springs.
Sept. 17— Group 5 Meeting, Holiday Inn,
Spearfish.
Sept. 18—Group 3 Meeting, Holiday Inn,
Mitchell.
Q
Sept. 19—Group 1 Meeting, Westward Ho
Country Club, Sioux Falls.
Sept. 20—Group 2 Meeting, Lantern Inn,
Milbank.
Sept. 21—Group 4 Meeting, Mobridge
Country Club, Mobridge.
£
Oct. 11-12—SDBA Instalment Credit and
Retail Banking Conference, Sioux Falls.
Wisconsin:
Feb. 17-18—WBA Group 1 Meeting, L’ Hotel
Sofitel, Minneapolis, Minn.
—
Feb. 25-Mar. 3—WBA Mid-Winter Retre™
Seminar, Rose Hall Beach Hotel & Coun­
try Club, Montego Bay, Jamaica.
Apr. 11-12—WBA Agricultural Bankers Con­
ference, Paper Valley Hotel, Appleton.
June 10-13—WBA Annual Convention, H ya^
Regency & Mecca, Milwaukee.
™
Wyoming:
Apr. 22-25—WBA Biennial Washington, D.C.
Trip.
June 13-15—WBA 75th Annual C o n ve n tio #
Jackson Lake Lodge, Moran.

In today’s financial world, information management has
become a vital issue. There is an ever-increasing need
for financial software systems that can present
information quickly and accurately, allowing situations
to be monitored so that sound business decisions can
be made. Hundreds of financial institutions across the
country have investigated information management
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Federal Reserve Bank of St. Louis

14

THE MANAGEMENT team for the newly-formed AID Securities Corporation in Des Moines consists of, from left: Dwayne Streeter, exec,
v.p.; James I. Mackay, pres.; James E. Weiser, dir. of municipal and public fin.; Jon M. Riskedahl, dir. of AID Financial Planning C o n s u l
tants; John R. Lepley, dir. of legal affairs; Robert S. Benson, dir. of sales, and Sally R. Winters, dir. of oper.

in that position he had a broad range
of experience handling all types of
bank investments. He attendecL
United Central Bancshares, Des Drake University and has served a®
Moines. A native of Richmond, Ind., an instructor for the Des Moines
he received his BS degree in Busi­ Chapter of AIB.
ness Administration in 1967 from
Other principal officials of AID
Indiana University. His investment Securities are Robert S. Benson, d i^
and commercial experience included rector of sales; John R. Lepley, di­
debt syndication and restructur­ rector of legal affairs and compli­
ings, leveraged buy-outs, mergers, ance; Sally R. Winters, director of
acquisitions, and both public and operations, and Jon M. Riskedahl,
private placements of debt and equi­ director of AID Financial P lan n in g
ty securities. He is also president of Consultants.
AID Investment Advisors, Inc.
Dwayne Streeter, executive vice
president of AID Securities, also is
chief financial officer of AID Invest­ Jack Whittle to Offer
^
ment Advisors. An Iowa native, he
holds a degree in business adminis­ Bank Director Seminars
Jack Whittle, chairman of Whit­
tration with emphasis on account­
ing, computer science and econom­ tle, Raddon, Motley & Hanks, finan­
ics. During his years in Iowa bank­ cial marketing consultants based in
ing at National Bank of Waterloo, Chicago, is offering 20 bank direc#
he served three years as part-time tors seminars across the country.
instructor at the University of Nor­ The one-day seminars will be held in
thern Iowa, Cedar Falls, and Hawk- Atlanta, New Orleans, Nashville,
eye Institute of Technology. He is a Orlando, Dallas, Hilton Head, Wil­
registered financial and operations liamsburg, New York City, B ostor^
principal and a Certified Public Ac­ Pittsburgh, Cleveland, St. Louis,
countant. Mr. Streeter’s career in­ Chicago, Omaha, Kansas City. Salt
cludes 12 years experience as a fi­ Lake City, Colorado Springs, Los
nancial professional in public ac­ Angeles, Albuquerque, and Hous­
counting, banking and investment ton, with dates ranging from Febru®
ary 6 to April 27, 1984.
banking.
Ann White, president of Ann
James E. Weiser, executive vice
president of AID Investment Advi­ White Associates, will present busi­
sors, Inc., is director of municipal ness development strategies ancL
and public finance for the new AID describe successful m an ag erial
Securities. Prior to joining AID Cor­ techniques for business today,
poration, he spent more than 30 assisting Whittle.
Bank board members and chair­
years with United Central Bank,
men,
presidents and CEOs, senioi^
Des Moines. While there, his exper­
ience included 10 years as a trust of­ officers, advisors, and key stocl^
ficer, five years as a trust invest­ holders are all invited to attend the
ment officer managing all the trust presentations.
For more information, contact
department bond portfolios, and
over five years as a vice president in Diane Teska, Director of M ark etin g
the investment department. While at (312) 661-1981.

AID Securities Commences Business
NEW, full service brokerage
and investment banking firm,
A
AID Securities Corporation, opened
its doors for business in downtown
Des Moines January 3. An open
house for the financial industry and
general business community was
held January 25 in the firm’s new
quarters at Suite 380 in Capital
Square building, Des M oines’
newest downtown office structure
near the Civic Center.
AID Securities offers stocks,
bonds, tax shelters, mutual funds,
money market funds and other
financial products. A subsidiary
division, AID Financial Planning
Consultants, offers complete per­
sonal financial planning. All of the
consultants in this division are
licensed as Certified Financial Plan­
ners. Another subsidiary, AID In­
vestm ent Advisors, Inc., is a
registered investment advisor ac­
ting as professional investment
manager of pension funds, endow­
ment funds and institutional and
selected individual portfolios.
A full range of brokerage services
and investment banking is offered
through AID Securities Corpora­
tion, according to John Evans, presi­
dent of AID Financial, which owns
AID Securities, AID Insurance Co.
and a group of related insurance and
financial companies, headquartered
in Des Moines.
Heading the staff of professional
investment personnel of the new
firm is James I. Mackay, president,
who has 16 years of experience in
finance both in commercial and in­
vestment banking. For four years
prior to joining AID, Mr. Mackay
was senior vice president in charge
of lending and strategic planning for

Northwestern Banker, February, 1984
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Federal Reserve Bank of St. Louis

15

Phoenix will host “back-to-back” ABA conferences

•

National Assembly for
Community Banking

National Corporate
Banking Conference

Hyatt Regency Hotel
February 2 6 -2 9

Hyatt Regency Hotel
February 29-March 2

UNDREDS of community bankers are expected
HILE community bankers are checking out of
H
w
to converge on Phoenix February 26-29 for theW the Hyatt Regency Hotel in Phoenix on Febru­
ABA’s National Assembly for Community Banking at
the H yatt Regency Hotel.
In addition to eight workshops and 10 peer groups
featuring the hottest topics in the minds of community
^bank CEOs, this conference will feature several wellknown speakers at the general sessions held the first
thing both Monday and Tuesday mornings and at the
concluding general session late Wednesday morning.
Joseph J. Pinola, the outspoken, aggressive and
#iighly innovative chairman and CEO of First Inter­
state Bancorp., Los Angeles, will be a featured
speaker. Mr. Pinola’s holding company is the one that
devised the franchising of its corporate holding com­
pany name to independent banks to allow them to mar­
k e t the corporate products and services generated by
giant First Interstate.
Other principal speakers include Charles Kuralt
(Monday noon luncheon), host of CBS News “Sunday
Morning” and his “On the Road” television feature;
•H ugh Sidey (Tuesday noon luncheon), an Iowa native
who is Washington contributing editor for TIME
Magazine, discussing “The Presidency” from his van­
tage point of having covered seven administrations
over a 20-year period; Professor Barry Asmus, a free
^narket economist and faculty member at Boise State
University in Idaho, who will speak on the issue of
deregulation and its efects on the economy, and Spen­
cer Johnson, author of The One Minute Manager.
Workshop topics are: ESOPs; Real Estate Equity:
•Kn Experienced Opinion; Discount Brokerage Service:
Can You Bank on It?; Financial Futures: Cutting Back
on the Guesswork; Bank Services: A Look at Prox­
imate Value Pricing; Incentive Compensation; Profits
Through Secondary Mortgage Markets, and One Bank
^folding Company.
Peer Groups will discuss: Bank Policy Today: Plann­
ing the Plays; Interest Increases and Loan Pricing:
Keeping Ahead; Bankruptcy: Keeping a Lid on the
josses; Competitive Compensation for Executives; Inurance Agencies: Tools for Analysis; Working with
the Board: Conflict or Cooperation?; Diversifying the
Investment Portfolio; The Balancing Act: Controlling
Non-Interest Expenses; Bank Fees—Are Yours Too
iOw?, and Satisfying Client Demands: Getting a Jump
n the Competition.
Workshops will be conducted Monday and Tuesday
mornings, with repeats for each workshop. Peer Group
sessions will be conducted Monday and Tuesday after­
noons until 4:30 p.m. and Wednesday from 8:30 a.m. to
i0:45 a.m., with repeat sessions.
□

4

4


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Federal Reserve Bank of St. Louis

ary 29, regional and money center bankers will be
checking into the same hotel to attend their National
Corporate Banking Conference conducted by ABA
through Friday noon, March 2 . Last year this confer­
ence was called ABA Credit and Correspondent Bank­
ing Conference.
The formal program begins at 7:00 a.m. Thursday
morning, March 1, with three special Early Morning
Workshops covering these topics: 1. The Evolving
Payments System & Federal Reserve Pricing—Private
Sector Initiatives. 2 . Trade Financing—Competitive
Positioning and Strategies for Your Bank. 3. AssetBased Lending—Competitive Positioning and Strate­
gies for Your Bank.
The first of two general sessions will commence
Thursday morning at 9:00 a.m., gaveled to order by
Richard S. Bibler, chairman, ABA Commercial Lend­
ing Division, and executive vice president, First Wis­
consin National Bank, Milwaukee. The keynote ad­
dress, “Competitive Positioning—In the New Cor­
porate Financial Services Marketplace,” will be de­
livered by J. Terrance Murray, chairman and president
of Fleet National Bank, Providence, R.I.
Following him will be Robert B. Albertson, first vice
president, Smith Barney, Harris Upham & Co., Incor­
porated, New York, discussing “The Future of Cor­
porate Services—Will Banks Be Able to Compete?”
The balance of the morning will be devoted to con­
current sessions covering: 1. Small Business/Banking
Relationships. 2 . Fee Income Generation. 3 . Mergers
and Acquisitions. 4. Strategic Planning for Line Man­
agers. 5. Analysis and Control of Bank Credit Ex­
posure Through the Holding Company Organization.
After the noon luncheon, concurrent sessions again
will be held until 3:30 p.m., covering these topics: Ses­
sion 1. Corporate Treasurer’s Perspectives on Busi­
ness/Banking Relationships and Future Financial Ser­
vices Needs—Allen F. Munro, executive vice presi­
dent, Greenwich Research Associates, Inc. Session 2 .
A Strategic Assessment of the Role and Value of Cor­
respondent Banking in the Bank’s Corporate Goals—
Peter Merrill, president, Peter Merrill Associates, Inc.,
Boston.
Round Table discussions will then be taken up until
5:00 p.m., covering a wide variety of 12 topics.
Special Early Morning Workshops will start off the
Friday program as they did on Thursday. Topics are: 1.
CORPORATE CONFERENCE. . .
(Turn to page 22 , please)
Northwestern Banker, February, 1984

imagine building
a new home for your bank with someone
a thousand m iles away from home.
“ When you think about building, you naturally consider
your own local resources first,” says Frank Etheridge,
president of Perkins State Bank in Williston, Florida.
“ We had capable firms available, but we’d also heard about
the total plan-design-build capabilities of PIBE up in St. Louis.
So we decided to investigate.”

“W hat we got w ith HBE is a real
sp ecialist in banks.”
“ FI BE, we discovered, really knows what makes banks
tick. We even have contractors on our board, but we all
became convinced that HBE’s superior expertise made it
the clear choice. The thousand miles vanished when
construction began; because HBE moved their
superintendent here for the entire time. And with his
involvement, the project was completed almost sixty
days ahead of schedule.”

“We’re attractin g more business, too.”
“ HBE helped us increase our customer appeal by
developing an entirely new and exciting image program.
It embraced not only the concept of the building and the
site, but a new logo and an entirely new corporate identity.
In fact, we actually saw business increase by more than
50% the first year we moved in.”

You can put your fu ll confidence in HBE.
We can underline what Mr. Etheridge has said. HBE
is determined to make every project work the way you
want it to. Call or write me, Sally Eaton, right now at
314 - 567 - 9000 . HBE Bank Facilities, 11330 Olive Street
Road, St. Louis, Missouri 63141.

S S HBE
B ank Facilities


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Federal Reserve Bank of St. Louis

You can’t afford not to
look a t HBE.

17

.

1984 mortgage outlook
. . . a year of steady, broad-ranging growth

ONSUMER spending in 1983 led the nation out of
its worst economic recession, spurring broadC
^>ased, moderate growth for the housing industry next
year, according to Leon T. Kendall,
chairman of Mortgage Guaranty
Insurance Corporation, Milwau­
kee.
• In his annual forecast for the
coming months, Mr. Kendall said
he is optimistic about the 1984 out­
look for housing, based on con­
tinued moderation of interest rates
#m d the lack of additional govern­
ment restraints. In the longer
term, Mr. Kendall explained, the
expansion of the secondary mortgage market and un­
regulated market forces should result in greater avail­
a b ility of housing funds for consumers in the years
ahead.
1984 a Year of Growth
“What we have before us now is a year of growth,
^ io t sparkling, but broad-ranging,” the MGIC chair­
man said.
Housing starts for 1984 could reach 1.6 to 1.7 mil­
lion, he noted, depending on the future course of in­
terest rates. Meanwhile, mortgage originations, which
^ r e much less cyclical than housing starts and regard­
ed as the leading indicator for the housing industry,
are expected to increase by 32% to $250 billion from
$190 billion this year.
The dollar volume of originations will increase be­
c a u s e “home prices have continued to moderate, the
trade-up market is stronger, existing home sales and
refinancings are making a comeback and, most impor­
tantly, the effects of inflation on home prices will be
validated as existing homes come to market,” Mr.
g^endall explained.
Mr. Kendall projected even greater demand and
availability of funds for potential homebuyers within
the next few years. More individuals are reaching the
homebuying age, and wealthier would-be borrowers are
Entering the housing market. In addition, the secon­
dary market for home loans, which supplies mortgage
money, is continuing to grow and expand as innovative
loan programs are introduced.
^
Changes in Household Make up
Since the recession, the number of households aged
25 to 34 years old — the group which purchases the
most homes — has increased significantly. At the same
time, the number of higher-income households within
his group is growing faster than the total, according
o Mr. Kendall. For instance, although the number of

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Federal Reserve Bank of St. Louis

these households will increase 15% between 1980 and
1995, those with annual incomes of at least $30,000 are
expected to increase by 75%; those with incomes of at
least $40,000 are expected to increase 141% over the
same period.
Secondary Market to Expand
The secondary market will continue to expand at its
1983 pace. Growth will result as more savings institu­
tions turn to this market to restructure loan portfolios
and securitize mortgages. Increasingly, thrift institu­
tions are operating more like mortgage bankers and
originating fixed-rate loans for sale to the secondary
market. In addition, new nontraditional competitors,
such as realtors and Wall Street companies, are parti­
cipating in the mortgage business, actively seeking
loan production from traditional lenders.
Expects Interest Rate Decline
In 1984, Mr. Kendall expects interest rates to de­
cline as deficits are brought under control. The prime
lending rate, currently at 11 %, should fall to below
10%. Three-month Treasury bills are expected to de­
cline about 100 basis points to 8 %, and long-term
Treasury bonds, now at 12%, should decline to an ap­
proximate rate of 10.5% by the fourth quarter of next
year.
Given this expected downtrend and the housing in­
dustry’s sensitivity to interest rate movements, Mr.
Kendall said he expects the rate on 30-year fixed-rate
conventional mortgages to decline to 12 % from 13.5%
this year.
In spite of this favorable scenario, Mr. Kendall
noted that the housing market will not experience the
same brisk level of activity it experienced in early
1983, when rates were also falling. As those rates be­
gan to rise last spring, he said, many lenders and devel­
opers offered to buy down higher rates to attract po­
tential homebuyers with affordable financing alter­
natives. Consumers were able to obtain loans at seve­
ral percentage points below the market rate, instead of
waiting for rates to drop. Without this year’s buy­
downs, much of this year’s demand (1983) would not
have surfaced until next year (1984).
“As a result, housing activity will be flat to some­
what higher in 1984,” Mr. Kendall explained.
“However, if rates drop to 11%, the market will ex­
perience a boom in homebuying and refinancings. Or, if
rates increase to well above the 13.5% mark, activity
will slow dramatically,” he emphasized.
“The power of affordability, which is tied to an in1984 MORTGAGE OUTLOOK. . .
(Turn to page 23, please)
Northwestern Banker, February, 1984

18

N ew O rlean s W ill H o st IBAA

•

Headquarters - Marriott Hotel
March 2 5 -2 9

ITH exciting New Orleans as a top drawing card,
W
the 54th annual convention of the Independent
Bankers Association of America from March 25-29 is
expected to again attract more than 2,000 bankers and
spouses. Headquarters will be at the Marriott Hotel in
downtown New Orleans, with an exhibit area of more
than 100 firms offering products and services to the
banking industry.
IBAA President James D. Herrington, chairman
and president of the Coldwater National Bank in Coldwater, Kan., will preside at all functions of the conven­
tion. Highlights of the program are:
• Monday—Special interest sessions which will ex­
plore the one-bank holding company, mergers and ac­
quisitions, Innerline services for banks, and a Wash­
ington legislative update. Afternoon open.
• Tuesday—Morning general session with addresses
by FDIC Chairman William H. Isaac and John M.
Albertine, president of the American Business Confer­
ence. A Congressional Panel on Deregulation will have
as participants: Peter Wallison, general counsel for the
United States Treasury; Danny Wall, staff director of
the Senate Banking Committee, and Ken McLean, mi­
nority staff director of the Senate Banking Committee.
• Tuesday Noon—Delegates luncheon. Speaker:
Frank W. Abagnale, billed as America’s greatest con-

SEN. E.F. HOLLINGS
DigitizedNorthwestern
for FRASERBanker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

J.R. BLOCK

artist. Spouses luncheon. Speaker: Maureen Reagan,
the President’s daughter and an active promoter of
U.S. export business.
^
• Wednesday—Morning general session with ad­
dresses by Secretary of Agriculture John R. Block and
United States Senator Ernest F. Hollings. Vice Presi­
dent George Bush has been invited to speak. If his
schedule permits, he would address the W ednesday
morning session.
• Wednesday Evening —Annual banquet and in­
stallation of officers. Entertainment: A1 Hirt as
featured performer, backed up by a New Orleans band
that will later provide music for dancing to conclude
the evening.
• Thursday—IBAA executive committee meetings.
The slate of officers to be nominated for election dur­
ing the general business session on Wednesday in­
cludes: President—A.J. Jack King, president, V alley
Bank of Kalispell, Mont., who served the past year as
second vice president; 1st Vice President—B.F.
“Chip” Backlund, president, Bartonville Bank, Bartonville, 111.; 2nd Vice President—Charles T. Doyle,
president, First State Bank, Hitchcock, Tex., a n #
Treasurer—Charles L. VanArsdale, president, Bank of
Castile, Castile, N.Y. Kenneth A Guenther is executive
director in Washington, D.C. headquarters.
□

W.H. ISAAC

F.W. ABAGNALE

19

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Northwestern Banker, February, 1984

20

New money
handling equipment
leads to:

• Each of the Brandt Coin Sorter^
and Counters, of which the most re­
cent is the Model 957, will count and
sort up to 600 coins per minute.
• The Brandt Model 872 Currency
Counters will count and batch c u ^
rency, as well as count and endorse
food stamps at a rate of 1,500 docu­
ments per minute.
• The information processed by
the coin sorter/counter and the c u ^
rency counter is automatically fed
into the Brandt Models 856 and 858
Central Control Units (CCU’s). Indi­
vidual check amounts, rolled coin
and various other media can b*
entered manually into the central
control unit. The CCU will generate
a printout detailing all deposit data
processed, providing the bank with
a permanent, printed record of a#
coin, currency, checks and food
One of the services First Wiscon­ stamps deposited, including item­
sin provides its customers is register ized differences between the de­
verification. This gives the bank the clared balance and the actual totals.
ability to balance the individual cus­
Objective Is Productivity
tomer’s cash registers (currency,
Jayne
Berthelsen, money process­
coin and checks) to a register total,
ing
officer,
is in charge of the Money
at which time totals are accumulated
Processing
Center of First Wiscon­
for all registers and a deposit slip of
sin
Bank.
According
to Ms. Berthefc
the day’s intake is completed.
sen, the prime objective in obtaining
the systems was to increase produc­
Cash Settlement Equipment
Individual totals can be provided, tivity. “When, through attrition, a
depending on specific needs, by one deposit clerk leaves the Money Pro­
of four cash settlement systems cessing Center of the bank, a casfc
utilized by the bank. Each of the settlement system is purchased and
four Brandt systems includes three personnel costs are reduced. Each
components; a coin sorter/counter
and currency counter interfaced to NEW EQUIPMENT. . .
the central control unit.
(Turn to page 25, please)

• improved productivity
• higher morale
• more customers
greater profitability

N ITS SEARCH for methods to
IProcessing
improve productivity, The Money
Center of First Wiscon­
sin National Bank of Milwaukee has
discovered various money process­
ing systems which have helped to
achieve improved productivity and
thus increase profitability of its
vault operation.
Over the past two years, the ac­
quisition by First Wisconsin of cash
settlement and high-speed coin
counting and sorting systems has al­
lowed the bank to provide customer
services not previously available
through the bank. And, the equip­
ment to achieve this was manufac­
tured and installed by Brandt, Inc.,
of nearby Watertown, Wis.

LEFT— First Wisconsin National Bank of Milwaukee’s newest Brandt system includes the Model 955 Coin Sorter/Counter, Model 872 Cur­
rency Counter and Model 856 Central Control Unit. “ The Cash Settlement Systems have turned out to be essential marketing tools for us,”
states Jayne Berthelsen, money processing officer (right in picture). RIGHT—The Brandt Model 958 Coin Sorter/Counter will sort and
count up to 1,200 coins per minute and generate a detailed printed audit trail. Purchased in May of this year, the unit takes the place#f
three teller model sorters.

Northwestern Banker, February, 1984
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Federal Reserve Bank of St. Louis

A Guest Editorial

• The Case for Equality

By DALE A. DOOLEY
President
ITS, Inc.
Des Moines, la.

“A// animals are equal; but some animals are more equal than
others. ”—George Orwell, Anim al Farm

r A S WE ENTER the year made (in) famous by Or• r \ well’s other widely-read novel, many people are fo­
cusing on the dark vision painted in 1984 and contrast­
ing it with the world as it really is. However, in ex­
amining the national EFT environment, the above referenced quote from Animal Farm is perhaps more ac­
curate than any of the Orwellian prophecies being
made. To rephrase Orwell, when is a shared network
not really a shared network? The answer is: when some
members are more equal than others.
As financial institutions step back to analyze the na­
tional EFT environment, that equality is, or should be,
a rather prominent concern. Joining a national net­
work as a second-class citizen may achieve the immedi­
ate goal of expanded terminal access, but the longterm trade-offs may make that status very unattrac­
tive. If the individual financial institution or member
has no control or input in the network, what it is in ef­
fect doing is allowing a third party to control the ac­
cess mechanism to its deposit base.
>
Situation Not Without Remedy
While the issue of control is important, the situation
is not without remedy. There are currently national
shared networks, such as Nationet, which offer their
members a voice in the operation of the network. This
>means that financial institutions entering the national
EFT arena do not have to settle for membership with­
out a voice. There is another issue, however, which
warrants some further consideration. In order to ex­
amine that issue, the overall direction and goals of
*EFT must first be examined.
Specifically, what is the principal factor behind the
proliferation of national networks? Undoubtedly, it is
the desire of financial institutions to expand the num­
ber of terminals to which their cardholders have ac­
cess. Why do these financial institutions wish to ex­
pand this access? The answer: to provide their custo­
mers with a convenient mechanism for accessing ac­
counts which is also cost effective for the financial in­
stitution to offer.
Connected with this last reason is a concern about

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Federal Reserve Bank of St. Louis

21
the ever-increasing number of checks being written.
The summary, therefore, is that EFT is pursued by fi­
nancial institutions as a cost-effective mechanism for
customers to access their accounts at their conve­
nience, while providing the financial institutions with
a potential for reducing, if not the number of checks
being written, at least the rate of growth at which they
are being written.
EFT Objective Is Acceptance
With this background in mind, the overall objective
of EFT is to become as universally accepted as the
check. This objective also is the second issue men­
tioned earlier. The roadblock to achieving this objec­
tive is not technical. As the national networks continue
to expand, active interchange between these networks
and regional organizations would give most customers
access to virtually every ATM in the country. With the
aspect of guaranteed funds, the roadblock certainly
does not lie with merchants; similarly, the convenience
offered would be the driving force behind consumer
usage. The fact is that the roadblock lies with the
“shared” national networks, where the interests of the
“more equal” members are placed ahead of the needs
of the “equal” members and their customers.
Some financial institutions are seeking to circum­
vent the single-mindedness of these national networks
by joining more than one network, thereby expanding
their coverage as much as possible. However, even if
this can be done, it is financially impractical to join
several different networks, not to mention the confu­
sion which would result from the number of different
logos which would have to be placed on a financial in­
stitution’s terminals. Clearly, the interests of these
“shared” national networks have created an Animal
Farm in the national EFT environment.
Despite this, there is a solution to this situation. It
is the true intent of this article to outline at least one
perception of how this solution can be achieved.
National Generic Logo
If the ideas outlined above are accepted regarding
the objectives of EFT, then the concept of a national
generic logo also should be acceptable. A national
generic logo would be a logo and/or phrase, not cur­
rently in use by any financial institutions or network,
which would be owned by a neutral third party and
made available for use by any financial institution or
network at no cost. There would, of course, have to be
some guidelines to follow in using this generic logo,
but these guidelines could be developed by the neutral
third party owning the logo. ITS, Inc., the Iowa-based,
shared EFT network, has discussed recently the possi­
bilities of this idea with the American Bankers Associ­
ation and other trade associations.
The advantages of a national generic logo are nume­
rous. The foremost would be the elimination of confu­
sion on the part of the consumer regarding terminal ac­
cess. Wherever this generic logo would be displayed,
consumers could use their cards with confidence. Of
course, it would be a slow evolution to reach such ac­
ceptance. It will require national standards and a wide
base of agreement within the financial industry to ef­
fect this sweeping change. But the groundwork is al­
ready being laid for this type of cooperation.
The development of a national generic logo also
Northwestern Banker, February, 1984

22
would keep financial institutions from having to turn
their terminals into billboards for several different net­
works. The end result of the use of such a logo would be
an increase in card usage, and would take us closer to
the overall objective behind EFT.
Opposition to Be Expected
Naturally, there will be opposition to such an idea,
especially by the “more equal” members of “shared”
national networks. Their arguments will likely vary
about the theme that competitors cannot utilize the
same logo in advertising their products. Since the suc­
cess of such a logo would result in greater customer
usage, however, these competitors would all benefit
from promoting the generic logo, while still maintain­
ing their competition. If anyone doubts the likelihood
of that, they need only visit Iowa or Wisconsin and ex­
amine systems which have been operational since
1977, based on exactly that concept, and which are two
of the most successful systems in the country.
Furthermore, the argument that competitors can­
not cooperate falls apart in light of the almost daily an­
nouncements that competitors are forming alliances to
bring about Point-of-Sale networks. If cooperative

Corporate Conference. . .
(Continued from page 15)
Bank Stock Financing. 2. Officer Compensation. 3.
Loan Grading Systems.
Presiding at the general session commencing at 9:00
a.m. will be Hollis W. Rademacher, chairman, ABA
Correspondent Bank Division, and executive vice pres­
ident, Continental Bank, Chicago. He will introduce
ABA President C. Robert Brenton, president of Brenton Banks, Inc., Des Moines.
Following Mr. Brenton will be a major address by
John F. McGillicuddy, chairman of Manufacturers

Regulators Hold Computer
Conference for Bankers
The banking departments of Neb­
raska, Colorado, New Mexico, Utah
and Wyoming, in conjunction with
the Conference of State Bank Super­
visors, will present a “Computer
Audit And Control Conference For
Bankers” on March 19-22, at the
Denver Hilton in Denver. Announce­
ments relating to the program were
mailed recently to chief executive of­
ficers of both state and national
banks.
The “Computer Audit And Con­
trol Conference For Bankers” is pre­
sented in many regions of the coun­
try on an annual basis and has been
enthusiastically approved by prior
attendees.
CSBS plans to hold similar pro­
grams for all states on a continuing
basis so that banks throughout the
country can obtain the benefits of in­
creasing management awareness

Northwestern Banker, February, 1984
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Federal Reserve Bank of St. Louis

competition can work in Point-of-Sale, it can certainly
work for the rest of EFT as well. Finally, the renewed*
calls for national EFT legislation serve to reinforce
this idea. If the need for legal standardization is so cru­
cial, how can the need for access standardization by
any less crucial?
t
Consumer Will Decide
Ultimately, it will be the demand of the consumer
which will bring all this about. Just as the demand by
the retailer that any POS system be made available to
all customers entering the retail location is forcing#
competitors into alliances, consumer demand for univer­
sal ATM access eventually will force the financial in­
dustry to seek some method to give it that access. It
will be a slower process, since consumers in most
states have not had the luxury enjoyed by consumers#
in states such as Iowa and Wisconsin so far as univer­
sal statewide terminal access; nevertheless, it will
come. It can only be hoped that the financial industry
is mature enough to recognize the advantages of pro­
posals such as the one being forwarded by ITS, Inc.,®
and act upon them of their own volition. Otherwise,
some animals will always be more equal than others. □
Hanover Trust Company, New York, who helped found
the ABA Correspondent Bank Division a decade ago#
at the ABA convention in San Francisco. His topic will
be, “Emerging Risks in An Increasingly Complex Fi­
nancial Environment.”
Concurrent sessions will run until the noon lun­
cheon, covering these topics: 1. Fixed Rate Lending®
Without Interest Rate Risk—Financial Futures. 2 .
Marketing to the Financial Services Industry in the
‘80s. 3. Loan Workouts—What Lessons Have We
Learned? 4. Mergers and Acquisitions—Investors’
Perspectives.
®
The Friday noon luncheon will conclude the con­
ference. Speaker will be Garald Greenwald, vice chair­
man, Chrysler Corporation, Detroit.
□

and improved internal audit cover­ tive proposals affecting the IRS.
Previously, he worked as senior tax
age of computer operations.
attorney for the United States
Chamber of Commerce.

ABA Promotes Two in
Government Relations
The promotions of William J.
Bosies, Jr., to the post of federal ad­
ministrative counsel and Charles W.
Wheeler as tax counsel for the
American Bankers Association were
announced recently by Gerald M.
Lowrie, executive director of ABA’s
Government Relations Group.
Mr. Bosies joined ABA in 1975 as
assistant federal administrative
counsel. He will now have overall
responsibility for ABA’s relations
with federal agencies.
Mr. Wheeler will provide staff
support for ABA’s Taxation Com­
mittee. Prior to joining the ABA he
was assistant to the commissioner
at the Internal Revenue Service,
providing final review of all legisla­

C.C. Hope Joins
CDx Advisory Board
C.C. Hope, Jr., vice chairman of
the board of directors of First Union _
National Bank in Charlotte, N.C.,
and past president of the American
Bankers Association, has joined the
advisory board of CDx, The Na­
tional Exchange for Federally In-^
sured Certificates of Deposit, lo­
cated in Washington, D.C.
In addition to being vice chair­
man of First Union National Bank,
Mr. Hope was appointed Secretary^
of Commerce for the State of North
Carolina in 1983. Mr. Hope’s other
activities include serving as chair­
man of the board of Wake Forest
University and dean of Southwest-^
ern Graduate School of Banking.

#

1 9 8 4 Mortgage Outlook. . .
(Continued from page 17)
crease or decrease of just a few percentage points, is
tremendous and cannot be underestimated by the in­
dustry,’' Mr. Kendall said.

®

Concern for Mortgage Credit Quality
Furthermore, althugh 1984 will be a better economic
year than 1983, Mr. Kendall is concerned about the
quality of mortgage credit. The proliferation of new fi^nancing vehicles and buydowns has created new risks
which could hurt borrowers. For example, he said,
“payment shock” — having to make a larger-than-expected payment — is a term which will be heard fre­
quently in the future. Foreclosures will remain high in
# 1984.
“Now is the time to deal with such issues, for invest­
ment in home mortgages is not without risk,’’ Mr. Ken­
dall said. “While there are new and untested instru­
ments in the marketplace, the free market should dis­
c o u ra g e bad ones and encourage good ones. Such self­
regulation can ensure a strong housing industry for
many years to come, ’’ he concluded.
□

•Home mortgage debt
near $1 trillion in ‘81
a

T HE NATION’S residential mortgage debt more
I than tripled from 1971 to 1981, figures from the
Commerce Department’s Census Bureau show.
Americans owed $967 billion in 1981, compared with

•Letter to the Editor

23
$303 billion in 1971. The figures cover privately owned
nonfarm residential properties, including rental and
vacant units, and come from surveys that followed the
housing censuses of 1970 and 1980.
Three of every five one-unit homeowner properties
were mortgaged in 1971 and this proportion was the
same in 1981, but the amount of outstanding debt
grew from $215 billion to $678 billion. These numbers
do not include condominiums because data on such
units were not collected in 1971. The average mortgage
debt per property rose from $11,300 to $27,000.
First mortgage debt on one-unit homeowner proper­
ties in 1981 totaled $646 billion, up from $211 billion in
1971. The average first mortgage debt per property
was $25,700. The remaining $32 billion was in second
and subsequent mortgages.
The proportion of first mortgages on one-unit homeowner properties that were insured by the Federal
Housing Administration dropped from 21 to 15 per­
cent during the period, while that guaranteed by the
Veterans Administration remained at about 14 per­
cent.
First mortgages were held on 25 million one-unit
homeowner properties in 1981 by the following
sources: savings and loan associations, 41%; commer­
cial banks, 15%; mutual savings banks, 10 %; Federal
National Mortgage Association and federally secured
pools, 15%; individuals, 5%; and the rest by other
organizations such as mortgage companies, private in­
vestment pools, life insurance companies, and state
pension funds.
Copies of Residential Finance, HC80-5, are available
from the Superintendent of Documents, U.S. Govern­
ment Printing Office, Washington, D.C. 20402.

and have been since 1977. Ours was the
only industrial loan and investment
company to have FDIC insurance when
Editor's Note: The January 9 issue the Commonwealth1 failure surfaced. I
of the N o r t h w e s t e r n B a n k e r ’s have been asked by many why we chose
q Weekly Newsletter referred to the FDIC. The answer is that NDGIC2 was
wcurrent proposal by FDIC Chairman simply deceptive advertising. I am not
William Isaac which says that going to relate to you the legislative
banks who take higher risk should schedules in the past three or four years
pay higher FDIC premiums. The ar­ which led to the NDGIC; however, it
t i c l e then reviewed a feature from seems ironic that many of those who
a deceptive insurance protection
the January, 1927, N o r t h w e s t e r n forced
on Nebraska industrial banks now look
B a n k e r which related the unsuc­ to blame anyone possible for the failure
cessful 17-year history of deposit of the NDGIC to adequately protect the
guaranty insurance by a number of Commonwealth depositors.
qptate funds—all of which went broke
While it may have been a mistake to
or had to quit.
increase the amount of deposit insur­
The following letter, commenting ance from $10,000 to $30,000 by the
on that article, was received from NDGIC, it was interesting to note in
Ray Tiedje, president of the Bank of your article of January 9, 1984, th at the
^¡Vorfolk in Norfolk, Nebr., and is re­ FDIC originally started with an insur­
ance protection of $2,500. Should a ma­
printed here with his permission.
jor U.S. bank fail, I wonder if we would
have a similar circumstance within the
Dear Ben:
FDIC?
In any event, I appreciated very much
% A sincere thank you for your article your historical background of various
“A Deposit Insurance Perspective” state insurance programs and the birth
which appeared in your January 9, 1984, of the FDIC, which, I might add, will
Newsletter. It was most interesting and have its 50th anniversary on January
informative.
12, 1984.1 am also enclosing a copy of an
^ I am involved in an industrial loan article which appeared in the Lincoln
* n d investment company in Nebraska Journal last month. Additionally, I


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Federal Reserve Bank of St. Louis

think it was very interesting to read the
Denver Post last month and specifically
an ad by Citicorp which advertised in­
surance up to $150,000. I have the origi­
nal of that newspaper and it is virtually
impossible to read who the insurer is for
Citicorp.3
In essence, deregulation brings about
a laissez-faire, buyer beware, type of
financial industry. The American public
has demanded it, legislators have
demanded it, and banks are rapidly ad­
justing to it. There is no doubt that
deregulation will bring about different
ways of attracting funds. Citicorp is a
mere example. I thought it was in­
teresting that they have insurance
coverage of $150,000 when the FDIC is
only $100,000.
Happy 1984,
Raymond G. Tiedje
President
Bank of Norfolk
Norfolk, Nebr.
1. Commonwealth Savings Co., an industrial bank, was
declared insolvent Nov. 1 by the Nebraska director of bank­
ing. It had $70 million deposits, most of which appear to be
lost.
2. Nebraska Depository Institutions Guaranty Corp. Estab­
lished 1977 by Nebraska legislature; had about $2 million
when Commonwealth failed.
3. Old Republic Insurance Co., Greenburg, Pa.

Northwestern Banker, February, 1984

24

Walter Minger, a Leading Ag Banker in
U.S., Retires from Bank of America
ALTER Minger, Bank of
W
America senior vice president
and head of its worldwide agribusi­
ness relationships, retired February
1.
Mr. Minger’s retirement date was
38 years-to-the-day of his joining the
bank in 1946 as an appraiser as­
signed to Sacramento County.
Executive Vice President Lloyd
Sugaski, chairman of the bank’s
money and loan policy committee,
commenting on Mr. Minger’s retire­
ment, said: “Without fear of contra­
diction, I can say that Walt Minger
is the dean of the agricultural bank­
ers in the United States. He is so re­
cognized by the banking industry,
the agricultural industry and the
trade associations of both. His re­
tirement will not only be a loss to
our bank, but a loss to the entire
agribusiness industry. He will be
sorely missed.”
Born in Buxton, Ore., Mr. Minger
studied agricultural economics at
the University of California’s Berke­
ley and Davis campuses, receiving
his degree in 1946 after World War
II service with the U.S. Navy as a
submarine officer.
After almost 20 years in agricul­
tural appraisal, Mr. Minger was pro­
moted to vice president and head of
the Northern Agricultural Loan De­
partment in 1965. He transferred to
the former National Division two

years later and was appointed group
vice president in 1972. He was in
charge of agricultural lending from
1973 until early 1974 when he was
named head of the bank’s San Fran­
cisco corporate service office. He
was appointed senior vice president
in that position and in October 1975
moved to his present assignment.
Active in agricultural industry af­
fairs throughout his career, Mr.
Minger currently is a member of 13
boards and committees of various
agricultural associations, agricul­
tural colleges and governmental
groups in the state and nation.
Included in these currently is
being a member of the United States
Chamber of Commerce Food and
Agricultural Commission; board of
trustees, California 4-H Foundation;
board of directors, California Coun­
cil of International Trade; board of
directors, American Society of Ag
Consultants International; board of
directors and executive committee,
California Cattlemen’s Association;
board of directors, Agricultural
Education Foundation.
Mr. Minger was widely known
throughout the nation among ag
bankers for his work on behalf of ag
banking through the American
Bankers Association. He was chair­
man of the ABA National Advanced
Ag Bank Management School plan­
ning committee. This resulted in es-

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Northwestern Banker, February, 1984
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Federal Reserve Bank of St. Louis

<r

*<

WALTER MINGER
. .in committee work he added stability
and vision.”

tablishing the ABA National Agri-1
cultural Bank Management School
conducted for one week each June at
Iowa State University in Ames, la.
Two well-known upper midwest
bank executives who had worked (
closely with Mr. Minger in ABA Ag­
ricultural Committee activities of­
fered these comments when learning
of Mr. Minger’s retirement:
Leslie W. Peterson, president of<
the Farmers State Bank in Trimont,
Minn., said, “Walter is without a
doubt one of the most positive
thinkers I have ever met. Another
thing I will always remember about ^
him is that whenever I talk with him
about problems I might have at the
time he’d say, ‘Les, those problems
are really opportunities!’ That’s
really the way he approached every-^
thing. He has a real talent for tear­
ing a project apart into its compo­
nents then rebuilding it quickly into
a smooth, workable solution. I
would say that Walter is just like"
the old country banker I knew—he
fits.”
Oliver A. Hansen, president of
Liberty Trust & Savings Bank in
Durant, la., stated, “During my 1
years in banking, I ’ve had the privi­
lege to meet and work with many of
the nation’s leading agricultural
bankers. Certainly no one in that^
field possesses the total knowledge1
of agriculture comparable to Walt
Minger. While he sat in a position
where he was one of the top officers
of the Bank of America, with an im-^
posing view of San Francisco, he

25
was at home walking in an Iowa pas­
t u r e or visiting an Iowa farm family.
In committee work he added sta­
bility and vision. Walt might be re­
tiring from active banking but I
HE Bank Marketing Associa­
doubt he’ll be able to leave his inter­
tion will hold its annual Cor­
e s t in agriculture behind him. Agri­ porate Marketing Conference March
cultural banking is deeply indebted 11-13 in Denver with a program that
to him.”
focuses on ‘‘shaking corporate mar­
keting executives out of their com­
placency,” according to Conference
•iE W EQUIPMENT. . .
Chairman Robert A. Pitner, senior
(Continued from page 20 )
vice president and director of mar­
keting at First Bank Minneapolis.
system has paid for itself in one
The three-day BMA conference to
^ e a r ,” states Ms. Berthelsen.
be held at the Fairmont Hotel in
“We have gone from 12 full-time Denver is designed to ‘‘wake up
and five part-time deposit clerks marketers and senior line executives
down to eight full-time plus four to competitive realities. We hope to
part-time clerks. Morale among the provide solutions that marketers
^lerks has definitely improved since can take home and implement,” said
purchasing the systems,” says Ms. Mr. Pitner.
Berthelsen.
In putting together the program,
Additional advantages accruing titled ‘‘Corporate Banking: Dealing
from the system are:
With Change and Making Tough
^ 1. The bank takes in many en­ Decisions,” the BMA planning com­
velope deposits which it feels could mittee tried to parallel what’s hap­
not be as efficiently processed with­ pening in banking with other indus­
out the use of their cash settlement tries that have undergone similar
systems. “All deposits must be re­ upheavals, Mr. Pitner said. ‘‘The re­
v iv e d by 5:15 p.m. in order to be sulting program will cut through the
credited to that day’s business,” insulated rhetoric we’ve been telling
says Ms. Berthelsen, ‘‘and largely ourselves for years, as consultants,
due to this equipment, we have all of corporate executives, and represen­
the deposits processed by 6:30 p.m.” tatives from other industries join
4) 2. An essential feature of the sys­ with corporate bank marketing of­
tem, according to Ms. Berthelsen is ficials to talk about what can be
the printed audit trail the unit gene­ done to keep wholesale banking pro­
rates. This tape is always available fitable in a changing marketplace.”
should a discrepancy occur.
• One session that will concen­
• 3. ‘‘The cash settlement systems trate on changes in funding costs will
have turned out to be essential mar­ be led by Donald C. Waite, III, di­
keting tools for us,” she notes. First rector, McKinsey & Company, New
Wisconsin has been able to obtain York, on ‘‘The Earnings Gap and
larger commercial accounts because How To Deal With It.”
Gf the system’s capacity to handle
• Another session will focus on
the larger volume.
what will be required of banks plan­
In the coin room of the money pro­ ning to maintain or increase their
cessing center, First Wisconsin uti­ position as corporations demand
lizes the Brandt Model 958 Coin Sor- more sophisticated electronic ties.
^r/Counter which they purchased in Donald E. Smith, president, MH FiMay of this year. The Model 958 will
sort and count up to 1,200 coins per
minute. The unit includes a micro­
processor based totalizer which will proximately $14,000 in coin a day
“ rint out information including de­ through one Model 958 without any
nomination totals of what was problems.
counted, bag and day totals. Non­
First Wisconsin has been able to
coin data such as account number, cut personnel costs, increase em­
^irrency, checks, as well as rolled ployee morale and productivity and
" in s , can be manually entered attract new customers due in large
through the keypad.
part to these efficient money pro­
Previous to purchasing this unit, cessing systems from Brandt, Inc.
First Wisconsin was relying on three This helps the bank achieve its goal
teller model coin sorters. Now the of satisfied customers and profitable
oank processes an average of ap- operation.
□

BMA Corporate Marketing Conference
March 11-13 Will Dispel Complacency

T


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Federal Reserve Bank of St. Louis

nancial Management Systems, Inc.,
New York, will discuss develop­
ments in the treasurer’s office and
review the latest data on treasury
management systems.
• A panel of corporate chief finan­
cial officers will discuss ‘‘What
Companies Will Need from Banks in
the Future” in a morning session
Tuesday, March 13. And, on that
same topic, Allan F. Munro, execu­
tive vice president, Greenwich Re­
search A ssociates, Greenwich,
Conn., will outline recent research
data that indicate why banks should
no longer be complacent about their
market position.
• The selection of credit and non­
credit products will be discussed by
a panel consisting of Diana H.
Strickler, vice president, Capital
Markets Department, First Boston
Corp., New York; Lawrence C. Rus­
sell, senior vice president/department head, service products depart­
ment, First National Bank of Chica­
go, and Susan Bazelines, vice presi­
dent, Allied Bancshares, Houston.
• Another panel discussion will
focus on ‘‘Market SegmentationSelecting the Most Profitable
Markets.” Representatives from Ar­
thur D. Little, Inc., San Francisco,
the United Bank of Denver, and
Bankers Trust Company, New York,
will analyze the selection of markets
for profitability.
Other presentations will include
‘‘Sales Management Systems—Do
They Work?” a five-year success
story on incentive compensation for
commercial loans and transaction
deposit accounts, and “ Interest on
Checking—A Liability or an Oppor­
tunity?” with Timothy J. Danielson,
marketing officer, First Bank Min­
neapolis, and William D. Wilsted,
professor of business policy,
Graduate School of Business Ad­
ministration, University of Colo­
rado, Boulder, discussing a model
built by First Bank Minneapolis to
predict the impact of deregulation.
For additional information on
BMA’s 1984 Corporate Marketing
Conference, contact Margery Krenn,
director, Corporate Marketing De­
partment, or to register, contact
Christine Kosar-Ben, Meeting Ser­
vices Department, Bank Marketing
Association, 309 West Washington,
Chicago, IL 60606. (312) 782-1442.
Northwestern Banker, February, 1984

26

t

AUTOM ATIC

2

TUBULAR

3
4

5

COIN W R A P P E R

6

COIN W R A P P E R

E s p e c ia lly d e s ig n e d fo r m a c h in e f illin g . . . a re a l tim e -s a v e r.
P acked fla t. In s ta n t p a te n te d “ Pop O p e n ” a c tio n w ith fin g e r
tip p re s s u re . D e n o m in a tio n s id e n tifie d b y c o lo r c o d in g . . . 6
d if fe r e n t s ta n d a rd co lo rs.

RAINBOW

COIN

7

9

BANDING

WRAPPER

#

K W A R T E T COIN W R A P P E R

FEDERAL

8

COLORED

BILL S T R A P

E n tire s tra p is c o lo r c o d e d to id e n tify d e n o m in a tio n . P rin te d
a m o u n t a p p e a rs o n to p a n d b o tto m o f p a c k a g e . E xtra w id e
fo r m a rk in g a n d s ta m p in g . E xtra s tro n g s to c k fo r s a fe d e liv e ry
a n d s to ra g e . P u re d e x trin e g u m m in g .

STRAPS

Id e a l fo r p a c k in g c u rre n c y , d e p o s it tic k e ts , c h e c k s , e t c . . . . d o n o t b re a k
o r d e te rio ra te w ith age. Size 10 x % in c h e s a n d m a d e o f s tro n g b ro w n
K ra ft s to c k w ith g u m m e d e n d fo r e ase o f s e a lin g . P acked 1000 to a c a rto n .
SEE

THE

Y OUR

D E A L E R

C . L . DOWNEY COMPANY


Northwestern Banker, February, 1984
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Federal Reserve Bank of St. Louis

OR

•

0

BILL S T R A P

P a cka ge c o n te n ts c le a rly id e n tifie d on fa c e s a n d e d g e s b y
c o lo r c o d e d p a n e ls w ith in v e rte d a nd re v e rs e fig u re s . M a d e
o f e x tra s tro n g s to c k to a s s u re u n b ro k e n d e liv e rie s . O n ly p u re
d e x trin e g u m m in g used.

WRAPPER

D U ZIT A LL COIN W R A P P E R

COIN

W ra p s 4 d e n o m in a tio n s in h a lf size p a c k a g e s . A m in ia tu r e o f
th e p o p u la r “ A u to m a tic W ra p p e r” . . . 25c in p e n n ie s , $1.00 in
n ic k e ls , $2.50 in d im e s , $5.00 in q u a rte rs .

C o lo r c o d e d fo r q u ic k , e a sy id e n tific a tio n . Red fo r p e n n ie s . . .
b lu e fo r n ic k e ls . . . g re e n fo r d im e s . . . to in d ic a te q u a n tity
a n d d e n o m in a tio n s . . . e lim in a te s m is ta k e s . T a p e re d e dges.
E xtra w id e . . . e x tra s tro n g . D e sig n e d fo r a re a s w h e re h a lv e s
a re w ra p p e d in $20.00 p a cks . . . “ red b o rd e re d w in d o w ” fo r
e ase o f id e n tific a tio n . A c c o m m o d a te s $20.00 in d o lla rs , $20.00
in h a lv e s . T a p e re d e dges.

OLD STY LE

B a sic c o in w ra p p e r in e x tra s tro n g k r a ft s to c k . P rin te d in 6
d iffe r e n t s ta n d a rd c o lo rs to d if f e r e n t i a t e d e n o m in a tio n s .
T r i p le d e s ig n a t io n t h r o u g h c o lo rs , p r i n t i n g a n d le tte rs .
T a p e re d e dges.

A m o u n ts a n d d e n o m in a tio n s a u to m a tic a lly i n d i c a t e d b y
p a te n te d “ re d b o rd e re d w in d o w s ’ ’ . A m o u n t s in w in d o w s
a lw a y s in r e g is te r . . . e lim in a te s m is ta k e s . A c c o m m o d a te s
a ll c o in s fro m l c to $1.00.

S E N D

FOR

FREE

S A M P L E S

HANNI BAL, MI SSOURI

•

DEPT.

^
9

27
the consumer loan department, as­
sistant vice president responsible
for the consumer loan and retail
banking departments, manager of
the private banking center, vice
president and most recently she
assumed responsibility as the
bank’s marketing director.
* * *
Richard L. Panozzo has been
elected president/financial services
and chief economist with Harris a t
L ak esid e
President, Director Named
Trust
and
Savings
Bank,
Chicago.
Bank,
announced
At Bank of Yorktown
His remarks will focus on what the John R. Mont­
•
Josephine May has been named financial markets will have in store gomery III, pres­
president of the Bank of Yorktown, in 1984. Other speakers include ident.
Lombard, accord­
Robert Behrens, vice president at
Prior to join­
ing to Sidney J.
The Commercial Bank, Champaign, in g L ak esid e
Taylor,chairman
Stephen Diamond, Chairman of Bank, Mr. Pan­
# o f the executive
First Chicago Credit Corporation, ozzo served as
committee of the
and Eugene Leonard, senior vice senior vice presi­
Cole-Taylor Fi­
president at Mercantile Bancorpora- dent and cashier
R.L. PANOZZO
nancial Group,
tion, Inc., St. Louis. Topics on the at Oak Brook
of which the
Conference agenda will include asset- Bank in Oak Brook. In his new posi­
• bank is a mem­
based lending in the modern port­ tion, he will be involved in the devel­
ber.
folio, credit administration and loan opment and implementation of cash
Ms. May, who
monitoring, making business devel­ management services and market­
J. MAY
is being promot­
opment calls, and ways in which ing stratetegies.
ed from senior vice president, is a 30 microcomputers can be used in com­
* * *
• year veteran of banking and has mercial lending.
served with Bank of Yorktown for
Registration information can be
11 years.
The Mid City National Bank of
obtained by calling the IBA Chicago
It was also announced that Dr. office.
Chicago has announced seven pro­
Richard E. Hamlin, president of
motions, according to President
® George Williams College, Downers
Kenneth A. Skopec.
Grove, has been named chairman of Federal Reserve Chairman
William N. Ebner has been elected
Deputy Chairman Named
the board at Bank of Yorktown.
vice president and cashier, while
Dr. Hamlin has been associated
Stanton Cook, president and George B. Vogt has been elected vice
with the bank since it was organzied publisher of the Chicago Tribune, president and data processing of­
• i n 1968. He was a founding director has been named chairman of the ficer.
and continuing member of the board board of the Federal Reserve Bank
William F. McCarty has been
until the present, and served as its of Chicago.
named assistant cashier and Bernar­
first chairman.
Mr. Cook, a director of the bank do F. Simon, assistant cashier and
since 1980, had been serving as data processing officer.
•Commercial Credit Conf.
Joseph R. Gotfryd has been named
deputy chairman.
It was also announced that Ed­ pro cashier and data processing of­
Feb. 22-23 in Decatur
“Win, Place or Show: Commercial ward Brabec, business manager of ficer; David E. Greiwe, pro cashier
Credit in the 90’s” is the theme for the Chicago Journeyman Plumbers and assistant comptroller, and An­
• th e Illinois Bankers Association Local 130, was named deputy chair­ toinette McGraw, pro cashier and
1984 Commercial Credit Conference man, succeeding Mr. Cook. Mr. Bra­ new account officer.
Leo D. Martinic has joined Com­
to be held February 22-23 at the bec has been a director of the bank
mercial
National Bank as assistant
since
1978.
Decatur Holiday Inn.
controller.
This year’s program will feature a
Mr. Martinic joins the bank from
^presentation by Jack R. Crigger, ex­
Price
Waterhouse, Milwaukee, Wis.,
ecutive vice president of American
Chicago N ew s
where
he served as tax specialist
National Bank and Trust Co., Chat­
since
July,
1980.
tanooga, Tenn., and current presi­
* * *
dent of Robert Morris Associates.
Catherine N. Webb has been pro­
•M r. Crigger will offer his views on moted to senior vice president of
how commercial lenders will fare in Ford City Bank and Trust Com­
Barbara Gardner Proctor, presi­
an environment of increased deregu­ pany, announced Bradley M. dent of Proctor & Gardner Adver­
lation.
Stevens, president.
tising, Inc., has been elected to the
The keynote speaker will be Dr.
Ms. Webb joined the bank in 1973 board of The Mid-City National
^Robert J. Genetski, vice president and has held positions as manager of Bank of Chicago.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Northwestern Banker, February, 1984

Giveus yourtired, yourfrazzled,
yourTEFRAtroubles...
Everybody said that the TEFRA reporting process was going to be one
large pain. And now that you’ve tried it, you probably agree. But take heart.
Norwest can liberate you from the whole mess.
Our system enables us to determine interest earned on: T-Bills, T-Notes,
Federal Agency Securities, Certificates of Deposits, etc., etc. We
can then prepare your customers’ 1099 forms and report interest
paid to the IRS. You will be free of the whole TEFRA tangle!
Call your Bond Sales Representative on 612-372-9464,
or Correspondent Banker on 612-372-8200. Norwest Bank
Minneapolis has the solution to your TEFRA questions.
Banking. And a whole lot more.
Bond Department
Norwest Bank Minneapolis, N.A.
8th and Marquette

M H kM M

Hill

NORWEST BANKS
m


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Federal Reserve Bank of St. Louis

u

29

Promoted in Luverne
At Nor west Bank Luverne, Jim
Boeve has been promoted to agricul­
tural loan officer and Gary Golla has
been named to the board of direc­
tors.
Mr. Boeve joined the bank in 1982
and previously served for five years
at CIT Financial Services. Mr. Golla
is a stockholder and officer in the
Luverne Farm Store Gas Company.

St. Cloud Election Told
First Bank St. Cloud recently
^elected N. Thomas Wiedebush presi­
dent and manag­
ing officer. He
succeeds D. Jack
Robertson, who
^recently joined
the St. Cloud of­
fice of Piper, Jaffray & Hopwood
Inc.
0
M r. W iede­
bush had been
serving as presi­
dent of First Bank Willmar since
1980. He began his banking career
# in 1968 at the Aberdeen office of
First Bank of South Dakota, and
also served at banks in Miles City,
Mont., and Benson, Minn.

bank in 1976 after serving as a bank
examiner.
Mr. Tschida started with the
bank in 1976 as a management-loan
officer trainee.

Announced in Marshall

Officer Promotion Told
Marilyn J. Burggraff has been pro­
moted to real
estate loan of­
ficer of Norwest
Bank Sauk Rap­
ids.
Mrs. Burggraff
began her career
w ith N orw est
Banks in 1977.
In addition to
her duties in real M.J. BURGGRAFF
estate loans, she
will supervise the bank’s secretarial
staff.

The following promotions and
elections were recently announced at
First American Bank & Trust of
Marshall.
Mark Stenson has been named se­
nior vice president and trust officer.
He joined the bank in 1975 to man­
age the newly formed trust depart­
ment and continues in that capacity.
Promoted to vice president were
Rodney R. Wilkinson, agricultural
loans, and C. Jean Krueger, retail
banking. Mr. Wilkinson has served
in the ag loan department since
“The Professional Edge”
1978. Ms. Krueger recently assumed
management duties of the newly Theme for NABW Conference
•Lakefield Bank Elects
merged
retail banking department.
New President, Chairman
She has been with the bank nine
Eugene H. Ormberg has been years.
elected president and chief opera­
New assistant vice president is
t i n g officer at First Bank Lakefield, David L. Miller, who will also serve
and Elden W. Ranee has been named as trust officer. Associated with the
chairman and chief executive officer. bank since 1978, Mr. Miller formerly
Mr. Ranee, who is also president and was with Northwestern National
managing officer of First Bank Wor­ Bank of Minneapolis.
th in g to n , has served as CEO of First
Promoted to officer status were:
Bank Lakefield since September.
Kathleen J. Briffett, commercial
Mr. Ormberg most recently has loans; James P. Louwagie, agricul­
served as vice president and man­ tural loans; Julie E. Coudron, trust
ager of agricultural lending at First operations; Debbie J. Blomme, con­
t$ a n k Worthington.
sumer loans and Rebecca J. Sorbel,
assistant cashier.

Pierz Promotions Told

Farmers & Merchants State Bank,
Pierz, has announced the promotion
* f Ken Heid, senior vice president;
Floyd Mathiowetz, vice president;
Dave Gedde, assistant vice presi­
dent, and Greg Tschida, cashier.
Mr. Heid joined the bank in 1971,
reviously serving as an officer at
First Bank, Little Falls.
Mr. Mathiowetz joined in 1975,
and had served at a bank in Spring
ake Park and as a bank examiner.
Mr. Gedde was employed by the

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Retires in Mountain Iron
Robert E. Moline recently retired
from his position as senior vice
president and vice chairman of
Mountain Iron First State Bank. He
has moved out of state to pursue
other interests.
Also at the bank, Carol E. Brown
has been appointed manager of the
Mountain Iron Insurance Agency.
She formerly was an agent with the
Merchants and Miners Agency, Hibbing.

“The Professional Edge” is the theme of the
third Minnesota State Conference of the
NABW to be held on April 5-6 at the Registry
Hotel, Bloomington. Shown here are Margie
Denton (right), chair of the ‘84 Conference
and Joan Peper, vice chair. Ms. Denton is
assistant vice president and manager of the
Southview facility of Signal Hills Bank in
West St. Paul. Ms. Peper is a customer
development officer for Liberty State Bank,
St. Paul.
Northwestern Banker, February, 1984


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Mark Schabert’s phone is
conveniently located just beyond
your bank's legal lending limit.
You’re familiar with the area — where your
loanable money ends and opportunity begins. That good
commercial customer whose credit needs have outgrown
your lending limit.
That’s where Mark — and F&M Marquette — can
help. Mark has been instrumental in handling overlines
for many area bankers. Growth of 38 % in correspondent
bank loans outstanding in the past year is testimony to that.
It may not be important to you that F&M
Marquette has been delivering loan services to corre­
spondent banks for over three decades. But it is important
to know that in Mark Schabert you can have a
knowledgeable friend who can help you with that
commercial or agricultural overline, liquidity loans (when
you need them), and — of course — bank stock loans.
Find out just how conveniently located Mark’s
phone is — call him at 612/341-6589.

A F&MMarouene National Bank
6th & Marquette
Minneapolis

Mark Schabert

Bill Klein

Bill Addington

Dick Holmes

Joan McCarthy

6 1 2 /3 4 1 -6 5 8 9

6 1 2 /3 4 1 -6 5 8 8

6 1 2 /3 4 1 -6 5 9 0

6 1 2 /3 4 1 -6 5 7 2

6 1 2 /3 4 1 -6 5 6 1

Larry
Kraayenbrink
6 1 2 /3 4 1 -6 5 8 7


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Federal Reserve Bank of St. Louis

Phil Gallivan,
Senior
Vice President

32

James H. Hearon, III, president
and chief execu­
tive officer at Na­
tional City Bank
of Minneapolis,
recently announc­
ed two promo­
tions and one ad­
dition to the
bank’s official
staff. Promoted
to new positions
J.C. NIELSEN
were: Jan C. Niel-

R.A. RONNING

M.D. HIGGINS

sen, corporate trust officer and Ruth
A. Ronning, assistant vice presi­
dent, group B, commercial banking
department.
Mark D. Higgins joined the bank
on October 12 as assistant vice pres­
ident in charge of the loan review
division. A graduate of University
of Wisconsin - Eau Claire, Mr. Hig­
gins formerly was associated with
Norwest Corporation and the Office
of the Comptroller of the Currency.
Mr. Nielsen joined National City
Bank in 1976 and has been in the
trust department since 1981.
Ms. Ronning is a graduate of Con­
cordia College in Moorhead where
she received her B.A. She has been
with National City Bank since 1981.
* * *
Raymond T. Pratt has been elect­
ed vice president and marketing
manager of FBS Business Finance
Corporation.
Mr. Pratt joined FBS Business

Northwestern
Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Finance Corporation as assistant
vice president in August, 1983.
Prior to that he was district man­
ager of the Minneapolis Office for
Bank America Lease Group.
* * *
F&M Marquette National Bank
has announced that James S. Käm­
merer has been
promoted to vice
president and ass is ta n t sales
manager of its
investment de­
p a rtm e n t. He
formerly was an
a ss is ta n t vice
president.
M r.
Käm­
merer holds a J.S. KÄMMERER
bachelor of arts degree in business
administration from the College of
St. Thomas in St. Paul.

Mr. Kleinschmit joined the bank
in 1971 and had been serving as
manager of treasury and municipal#
securities.
Mr. Turner joined in 1977 as an
economist and most recently held
the position of manager of product
development.
#
*

*

*

The board of directors of Bank of^
Minneapolis and Trust Company, re­
cently announced
the election of
Steven J. John­
son as president
and chief execu­
tive officer of the
bank as well as a
member of the
board.
Mr. Johnson,
age 47, most re- s j JOHn s o n
* * *
cently served as
Robert S. Branham, president, president of the Security National
Norwest Bank South St. Paul, N.A., Bank of Anchorge, Alaska. A native#
has announced the promotion of of Wisconsin, Mr. Johnson has served
James R. Hildman to assistant vice as a field examiner for the Federal
president and the reassignment of Reserve Bank of Minneapolis, a
Margaret M. (Maggie) Reller to commercial banking officer in seve­
mortgage loan officer.
ral Minneapolis area banks and as#
Mr. Hildman, a University of an executive vice president of the
Minnesota graduate, started his ca­ Alaska Bank of Commerce, Anchor­
reer in financial services in 1966 age, Alaska. Mr. Johnson also spent
with Norwest Bank South St. Paul, a period of time with the Depart­
N.A. in its installment loan and col­ ment of Commerce in W ashington#
lections department.
D.C.
Ms. Reller began her career in
* * *
banking in 1970 as a teller and most
recently was elected personal bank­
ing officer in October, 1982.
Mervin Winston, president of the®
* * *
Metropolitan Economic Develop­
ment Association, has been named
to the Federal Reserve Board’s Con­
The Federal Reserve Bank of Min­ sumer Advisory Council. He will
9
neapolis has announced the promo­ serve a three-year term.
Timothy D. Marrinan, assistant
tion of Thomas E. Kleinschmit to as­
sistant vice president in the securi­ vice president and legal counsel at
ties department and Thomas H. Tur­ First Bank System, Inc., was desig­
ner to assistant vice president for nated vice chairman of the Council.^
Mr. Marrinan was named to thew
product development.

33

Beware the wolf
in sheep’s clothing
n today’s competitive environment, we believe it is
Iclosely
important for the independent community banker to
evaluate his upstream correspondent relation­
ships. Are you dealing with a partner that doesn’t com­
pete for your customers and is sincerely interested in
helping you succeed, or are you dealing with another
kind of animal that takes your money to Minneapolis
and then uses it to steal your customers for its local
affiliated bank?
At American, we have the resources to be your corre­
spondent partner, and the desire to help you succeed.
We do not use your money to compete for your
customers.

AMERI CAN
N A T I O N A L


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

B A N K *

S A I N T

P A U L

Northwestern Banker, February, 1984

34
Minnesota News
Council in January, 1983; his term
runs through 1985.
The Consumer Advisory Council
advises the Federal Reserve Board
in the field of consumer financial
protection laws and other consumerrelated matters. Its 30 members rep­
resent all parts of the country and
include broad representation of con­
sumer and financial industry in­
terests. The Council meets several
times a year in Washington, DC.

Officer Promoted, Two Join
Staff in Redwood Fails
Len Wohlman, previously senior
vice president/loan administration
at Norwest Bank Redwood Falls,
N.A., has been promoted to a new
position within the Norwest holding
company, responsible for the Finan­
cial Institutions Group for Norwest
Corporation—Region III.
Michael D. Watters has joined
Norwest Bank Redwood Falls as
senior vice president in charge of
loan administration and Peter J.
Mehlhaff has joined as vice presi­
dent in charge of commercial loans.
Mr. Wohlman started his career
with Norwest Bank in Marshall as
an ag loan officer. He transferred to
Redwood Falls four years later and
served as real estate and commercial
loan officer until his promotion to
senior vice president/loan adminis­
tration.
Mr. Watters joined the bank from

Northwestern Bank of Commerce in
Duluth, where he served as a com­
mercial lender and administrator of
the loan policies for all lending de­
partments in the bank.
Mr. Mehlhaff joined the Norwest
staff with five years of direct com­
mercial lending experience at First
Bank in Aberdeen, S.D.

moted to Assistant Cashier in the in­
stallment loans department. He was
subsequently promoted to assistant
vice president in charge of the mort­
gage loan department and later to
vice president in the commercial
loan department.

Acquisitions Approved

The Federal Reserve Bank of Min- £
neapolis recently approved the fol­
lowing acquisitions: Borresen In­
E.L. “Bud” Ellefson has been vestments, Inc., Westbrook, to ac­
elected president and chief executive quire the State Bank of Darfur, with
officer of Miller Hill State Bank, $7.6 million in deposits; and Vermil- £
Duluth, announced Board Chairman lion Bancshares Inc. to acquire Ver­
million State Bank, with $27.1 mil­
Carl P. Hill.
lion
in deposits.
Mr. Ellefson has been president of
Airport State Bank, Hermantown,
since March 1,
1977. He suc­
President Joins Ada Bank
ceeds Mr. Hill
Kenneth H. Recker has joined
who has served
The Ada National Bank as presi­
as acting presi­
dent, chief operating officer and £
dent since the
member of the board.
Paulucci family
Mr. Recker formerly was execu­
acquired 100 per
tive vice president of The First Mit­
cent interest in
chell National Bank in Mitchell,
Miller Hill State
S.D., and vice president and senior £
Bank last De­ E.L. ELLEFSON
loan officer of The First American
cember.
Bank of International Falls.
Prior to his presidency at Airport
State Bank, Mr. Ellefson was associ­
ated with the Northwestern Bank of Announced in St. Cloud
•
Commerce, Duluth, for 12 years. He
The
First
American
National
joined NBC in March, 1965, and
after management training was pro- Bank of St. Cloud has announced
the election of Janet Cotton to per­
sonnel officer; Daniel Hagen to in­
stalment loan officer, and Phyllis ®
Holubetz to administrative assis­
tant. In a related action, Mary Sue
Parker was elected commercial loan
officer.
-

Miller Hill State Bank
Elects New President

Bloomington Bank Opens Facility

Northland Bank Services,
New Consulting Firm in Esko

W. Duncan MacMillan (second from left), chairman of American State Bank of Blooming­
ton, cuts the ribbon of dollar bills opening the.bank’s new detached facility located at 7700
W. Old Shakopee Road. Joyce Lambrecht, operations officer, has been appointed to
manage the 1,200 sq. ft. office. Pictured from left are: Dale Simonson, chmn. of Bloom­
ington Chamber of Commerce; Mr. MacMillan; Jim Lindau, Bloomington mayor; Ms. Lam­
brecht, and Pat Colbert, bank pres.

Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Roy Ryttie has announced the re-®
cent formation of Northland Bank
Services, a financial and manage­
ment consulting firm located in
Esko.
The new consulting firm will offer®
problem solving, management assis­
tance, staff training and policy deve­
lopment.
Following graduation from th e_
University of Minnesota in 1970,
Mr. Ryttie started working for the
State of Minnesota, rising to senior
bank examiner in charge of the Du­
luth District. He served as a bank^
examiner 13 years.

35

Statement of Condition
National City Bank
(in thousands)
A ssets
Cash and Due from B a n k s.................................................................................................
Interest Bearing Time Deposits with Foreign Banks.........................................................
Investment Securities:
U.S. Treasury ...................................................................................................................
U.S. Government Agencies.............................................................................................
Obligations of States and Political Subdivisions............................................................
O ther S ecurities...............................................................................................................

D ecem b er 31
1983
1982
$ 34,445
$ 22,543
20,000
15,200
22,852
13,058
39,083
721

30,330
8,370
32,358
721

Total Investment S ecu rities........................................................................................
Trading Account Securities.................................................................................................
Federal Funds S o ld ...............................................................................................................
Loans, Net of Reserve for Loan Losses
1983 $3,219; 1982 $3,189; and U nearned Discount 1983 $145; 1982 $406 ...............
Leasehold Improvements and Equipment .......................................................................
Accrued Income Receivable...............................................................................................
Customer Acceptance Liability...........................................................................................
O ther Assets..........................................................................................................................

75,714
1,246
15,000

71,779
1,411
10,000

256,427
3,144
5,845
737
2,260

237,945
2,975
4,588
615
3,370

Total A ssets...................................................................................................................

$414,818

$370,426

$ 78,307
242,201
12,555

$ 66,430
213,606
11,477

Total D ep o sits...............................................................................................................
Federal Funds Purchased and Securities Sold
Under Agreements to Repurchase ................................................................................
O ther Borrowed F u n d s........................................................................................................
Acceptances O utstanding....................................................................................................
Other Liabilities...................................................................................................................
Subordinated N o te...............................................................................................................

333,063

291,513

32,170
2,735
737
8,325
3,000

31,382
4,187
615
7,125
3,000

Total L iabilities............................................................................................................
Stockholders’ Equity:
Common Stock, Par Value $5.00
Authorized 2,500,000 shares
Issued 2,400,000 sh ares...............................................................................................
Surplus..............................................................................................................................
Undivided Profits............................................................................................................

380,030

337,822

12,000
12,000
10,788

12,000
12,000
8,604

Total Stockholders’ E q u ity ...........................................................................................

34,788

32,604

Total Liabilities and Stockholders’ E quity..................................................................

$414,818

$370,426

L iabilities & S tock h old ers’ E qu ity
Deposits:
Non-Interest Bearing........................................................................................................
Interest Bearing.................................................................................................................
Foreign B ra n c h .................................................................................................................

D irectors o f N ation al C ity B an k o f M in neapolis
C. Bernard Jacobs

Sister Mary Madonna
Ashton, CSJ

Marvin Borman

James B. Goetz

Walter W. Heller

C h a irm an o f the Board

Partner

David L. Andreas

C om m issioner o f H ealth

Regents’ Professor
o f Economics

State of Minnesota
Howard E. Barnhill

Maslon, Edelman, Borman,
Brand and McNulty
Kenneth H. Dahlberg

President,
C h a irm a n o f the Board
and C h ie f Executive Officer

President,
C hairm an o f the Board
and C h ie f Executive Officer

President,
C h a irm a n o f the Board
a n d C h ie f Executive Officer

North American Life
and Casualty Company

Dahlberg Electronics, Inc.

Vice President

National City Bancorporation
Lowell W. Andreas
Retired President

Archer Daniels Midland Company

Information Dialogues, Inc.
James H. Hearon, III
President a n d C h ie f
Executive Officer

National City Bank

University of Minnesota
C. Wilbur Peters
President

Minnesota Fabrics, Inc.
Ralph C. Tumquist
C h airm an o f the Board
a n d C h ie f Executive Officer

Turnquist Paper Company

NATIONAL CITY BANK
The Financial Center fo r AchieversSM
75 South Fifth Street ♦ Minneapolis, Minnesota 55402 ♦ Phone 612-340-3000

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

M em ber F.D.I.C.

Northwestern Banker, February, 1984


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Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

38

for an undisclosed amount. The ac­
quisition by M&I will take place ®
primarily through and exchange of
stock.
Wauwatosa State Bank was es­
tablished in 1920 and has deposits of
$121 million as of September 30.
®
W.J. M orrissey, pres., Elkhorn
B.K. K oontz, exec, d ir., M adison

80th Annual Meeting for Group 1
Saturday morning breakfast will
be from 8:00 to 9:15 a.m., courtesy
of First Wisconsin National Bank,
ary 17-18 at the L’hotel Sofitel, Min­ Milwaukee, and First Wisconsin Na­
tional Bank, Eau Claire. The morn­
neapolis.
Group 1 President Kenneth A. ing session begins at 9:30 with Ken­
Heiser, president, First National neth A. Heiser presiding. Speakers
Bank, Hudson, has been assisted for the morning include Bryan
this past year by Vice President Koontz, WBA executive director;
Glen D. Johnson, president of First Tom Farin, president of Aurora Sys­
Bank of Grantsburg; Past President tems Inc., Madison; Kim Kindschi,
Duaine C. Espegard, president, WBA associated director of educa­
Union State Bank, Amery, and Sec­ tion, and a panel consisting of Theo­
retary-Treasurer Larry W. Schleus- dore Giannobile, president of Tax
ner, president, First American Bank Sheltered Compensation, and Allan
of Colfax. In keeping with the suc­ J. Grosh, vice president of The
cession of officers, Mr. Johnson will W yatt Co.
A 1:00 luncheon will feature Jack
step into the presidency and Mr.
Schleusner will be the new vice Spring, manager - human resources,
president, with the election of a new Minnesota Mining & Manufactur­
secretary-treasurer being announced ing. The afternoon has been left
open with a 5:45 reception followed
at the meeting.
On Friday evening, Feb. 17, there by banquet at 7:00. Entertainment
will be a get-together beginning at will be provided that evening by The
Swinging Ambassadores.
9:00 p.m. with a Polynesian theme.
HE 80TH ANNUAL meeting of
T
Group 1 of the Wisconsin Bank­
ers Association will be held Febru­

president in 1973, and also serves as
president of First Wisconsin Leas­
ing Corporation. Mr. Schwaab joined
Ronald C. Smith was elected pres­ in 1973 as vice president in charge of
ident of First Wisconsin Financial marketing and business develop­
Corporation last month and three ment. Mr. Savadil also joined in
other executive officers were pro­ 1973 as auditor and assistant vice
moted.
president before joining in 1980 as
Mr. Smith, formerly executive assistant to the general counsel.
vice president, succeeds Frank R.
Quinn, who died unexpectedly De­ Approval Received
cember 30 of a heart attack.
Northern Highlands BancorporaDirectors of the corporation, a
tion,
Inc., Mercer, received approval
subsidiary of First Wisconsin Na­
recently
from the Federal Reserve
tional Bank of Milwaukee, also
Bank
of
Minneapolis,
acquire the
named Robert J. Schwaab, senior Northern Highlands toState
Bank,
vice president, to succeed Mr. Smith
Mercer,
with
assets
of
$
8.6 million.
as executive vice president; Clarence
J. Savadil, Jr., first vice president,
to be senior vice president, and Nol­ M&I Acquisition Announced
Marshall & Ilsley Corp. has an­
an Zadra, vice president, to be first
vice president. Mr. Schwaab was nounced plans to acquire Wauwato­
sa State Bank, with offices at 7501
also elected a director.
Mr. Smith joined FWFC as vice W. North Ave. and in Elm Grove,

President Elected, Three
Others Promoted


Northwestern
Banker, February, 1984
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Federal Reserve Bank of St. Louis

Two Elected to the Board
Paul Binzak, of the law firm
Kraemer & Binzak, S.C. and John A. #
Wundrock, president of Wisconsin
Pharmacal Company, Jackson, have
been appointed to the board of F&M
Bank, Menomonee Falls.

•

Elected in Crandon
Crandon National Bank has an­
nounced the election of Richard A.
Denton as assistant vice president^
in charge of real estate loans.
For the past six years Mr. Denton
has been employed by Security Sav­
ings as branch manager of its Cran­
don office.
•

Menasha Promotions Told
Anne. L. Menning and Mary Beth
Swenson have been promoted to as-^
sistant vice presidents at Security
Bank, Menasha.
Ms. Menning has been with Secu­
rity Bank since June and formerly
was employed by Firstar Bank, Ap-^
pleton for ten years.
Ms. Swenson has been with
Security Bank since May of 1980,
formerly with First Wisconsin-Oshkosh for four years.
f

Two Advanced in Green Bay
Two persons have been named to
new positions with Kellogg-Citizens^
National Bank, Green Bay. Marjorie^
K. Delahaut has been named man­
ager of the bank’s Port Plaza Mall
branch office and Cheri A. Brice has
been named assistant manager of^
the town of Scott branch.
Ms. Delahaut has held a number
of positions with the bank and in
1977 was named assistant manager
of the Scott branch.
£
Ms. Brice has been with the bank
since 1979 as a teller and in personal
banking.

Named in Green Bay

•

University Bank, Green Bay, has
named Paul Bachhuber chief lending
officer of business loans, according
to Donald L. Menefee, president and_
chief executive officer.

39

Yankton Bank Working
With Delinquent Farmers

Pierre Appoints President
Names Two Others
^ Gene Hawk, newly appointed
Chairman of First National Bank in
Pierre, has announced the appoint­
ment of Dennis Fargen to president
and chief executive officer. Mr. Far^ e n joined the bank in 1980 and
¡served as executive vice president
until this recent promotion.
In addition, Willian Fuchs was
named assistant vice president and
^ a sh ier and Jennie Weingart was
promoted to assistant vice presi­
dent.
Mr. Fuchs, a CPA, joined the
bank in 1983 and formerly was staff
accountant for McGladrey Henrickson and Company.
Ms. Weingart joined in 1973 and
presently is manager of electronic
data processing.

Elected in Huron

celebration of the bank’s 40th anni­
versary.
Gladys Lohr, director and stock­
holder of the bank, passed away
January 5. She had been associated
with the bank since her late husband
Earl Lohr founded it 40 years ago.

First Bank of South Dakota
Promotes Two, Elects One
First Bank of South Dakota,
Sioux Falls, has announced the pro­
motion of two of­
ficers and the
election of one.
Bette Theobald
has been promo­
ted to vice presi­
dent in the trust
department-Sioux
Falls; Greg Mayes
has been named
a ss is ta n t vice
president in HurB- THE0BALD

LaVern Barta has been elected as­
s is ta n t vice president by the Farm­
ers & Merchants Bank of Huron.
Mr. Barta has been with the bank
since 1964 and presently is manag­
ing the instalment department.

Joins Fulton Bank
Gary L. Slade has joined The Ful# o n State Bank as vice president.
Mr. Slade started his banking ca­
reer in 1974 when he joined The
Commercial Trust and Savings
Bank of Mitchell as an officer
•rainee. He held various positions
before serving as vice president, his
most recently position.

Gary Open House Held
® Gary State Bank held open house
activities in January in honor of its
new banking quarters located on
First Street in Gary. Approximately
U 00 area bankers were in attendance
Tit the open house which was also in

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

G. MAYES

J. HELMER

on, and JoVayne Helmer has been
elected operations officer in Rapid
City.
Ms. Theobald started her First
Bank of South Dakota career in
1964. In 1973 she moved into the
trust department and in 1977 was
named assistant vice president.
Mr. Mayes joined First Bank
Rapid City in 1980 and was elected
instalment loan officer later that
year.
Ms. Helmer joined First Bank
Rapid City in 1978 and most recent­
ly was named regional data center
manager in Rapid City.

After several days of having its
personal letters to delinquent farm­
ers judged in the daily press and at
mass meetings of concerned farmers,
Valley State Bank in Yankton ap­
pears to have eased the tension and
misunderstanding through meet­
ings with the dozen farmers origi­
nally involved. That was the word
expressed late last month by Keith
Warrelman, recently elected ex­
ecutive vice president of Valley
State.
Valley State had written letters to
the dozen area farmers in December
because of the status of their loans,
asking that steps be taken immedi­
ately to clearing up the loans. Some
of the farmers interpreted it as tell­
ing them they had to sell out in three
days or be liquidated by the bank.
Mr. Warrelman says that was not
the content or intent of the letter.
Several stories appeared in the lo­
cal paper, as well as the Sioux Falls
Argus-Leader, stressing mainly
what the farmers and their at­
torneys were saying. The bank was
trying to maintain the confidentiali­
ty of its relationship with customers
and would state publicly about the
letters only in general terms.
Mr. Warrelman reported late last
month “we have since had a group
meeting with the small number of
farmers, then we had individual
meetings with the majority of them.
Some are finding ways to liquidate
their debt. Some have found other
employment. Some have partially li­
quidated. This situation reflects the
tough times throughout the agricul­
tural business in our part of the
country in recent months and years,
especially due to any one or a com­
bination of bad crop years, bad
prices, managerial skills, and land
purchases at higher prices than cur­
rent levels.’’

Promoted in Lake Andes
Randy R. Vesely was recently
promoted to cashier and elected to
the board of Andes State Bank,
Lake Andes.

Advanced in Faulkton
At Faulk County State Bank,
Faulkton, Rhonda Hossle was ad­
vanced to cashier, replacing William
F. Ingalls who recently retired.
Warren F. Smith has been ap­
pointed to the board.
Northwestern Banker, February, 1984

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Federal Reserve Bank of St. Louis

M em ber First Bank System

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332 M innesota Street
Saint Paul, M innesota 55101


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Federal Reserve Bank of St. Louis

42
tion in Minneapolis, returning to th e ^
Fargo bank in December of that
year.

Minot Bank Approves
Reorganization Plan

New President Named
At Valley City Bank
Glenard Wischmann has been
named president and chief executive
officer of Norwest Bank Valley City,
N.A., succeeding Kent B. Cumm­
ings who has been named chairman.
Mr. Wischmann had previously
been serving as senior vice president
of Norwest Bank St. Cloud for the
past 10 years. Mr. Cummings has
served as president and chief ex­
ecutive officer of the Valley City
bank since 1966.
Also at the bank, Mary Tangen
has been elected assistant cashier.
She has been with the bank 14 years,
serving in operations the past 10
years.

Promoted in Grafton
Dan R. Anderson has been pro­
moted to assistant vice president at
First American Bank & Trust of
Grafton.
Mr. Anderson joined the staff in
1979 and previously was employed
with Avco Financial Services at
Fort Madison, Iowa. His responsi­
bilities will include those of a loan of­
ficer and compliance officer.

•

John W. Pierson, president of
Norwest Bank, Minot, N.A., an­
nounced that the bank’s board of0
directors have approved a reorgani­
zation plan for the bank, promoting
loan administrator for Norwest
several staff members and electing a
Bank Fargo and Region VII, and the new
officer.
promotions of Thomas E. Hansen to
vice president/client executive for
Norwest Bank Fargo and Red River
Region VII and Paul F. Gentzkow to
vice president and manager in com­
mercial loans.
Mr. Deibert joins the bank from
Norwest Bank Minot where he held
the position of senior vice president
for loan administration and second
officer of the bank. Prior to moving
to Minot in 1979, he was vice presi­
T.R. STOCKERT
J. O’DONNELL
dent responsible for loan review and
Thomas R. Stockert, senior vice
manager of the credit department at
Norwest Bank St. Paul from 1969 to president and cashier, has been
designated to second officer of Nor-^
1979.
Mr. Hansen began his banking ca­ west Bank Minot, N.A. and man­
reer in 1974 with Norwest Fargo. In ager of the consumer banking group.
1975 he transferred to Norwest Cor­ James O’Donnell, vice president,
poration in Minneapolis as a regio­ has been promoted to senior vice
nal credit trainee. In 1976 he trans­ president and manager of the busi- 0
ferred back to Fargo, most recently ness group which includes agri-busi­
holding the position of vice presi­ ness and commercial. In addition,
dent and manager in commercial Mr. O’Donnell will be chief credit of­
ficer for the bank.
loans.
Other promotions include, R . 0
Mr. Gentzkow started his bank­
ing career in Fargo in 1974. In 1980 Wayne Brostrom to vice president
he transferred to Norwest Corpora­ of human resources; Dean A. Nelson

Harvey Grand Opening Held

Two Acquisitions Approved
The Federal Reserve Bank of Min­
neapolis recently approved the ac­
quisition of Union State Bank of
Hazen, with $37.6 million in depos­
its, by Hazen Bancorporation, Inc.,
and the acquisition of Farmers and
Merchants Bank in Cooperstown,
with $18.6 million in deposits, by
F&M Bank Holding Company,
Cooperstown.

Norwest Bank Fargo
Staff Changes Announced
Norwest Bank Fargo N.A. Presi­
dent and Chief Executive Officer
Tim V. Stern has announced the ad­
dition of James J. Deibert as senior

Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

NATIONAL Bank of Harvey held its grand opening late last year, following the completion
of its new banking facility. Governor Allen I. Olson was on hand for the ribbon cutting cere­
mony and Jim Perry, former Minnesota Twins pitcher was present to autograph pictures,
as well as a drawing held and free refreshments and food served. The new b u ild in g #
features five teller windows and a drive-up window.

43

B a n k o f N o rth D a k o ta
S T A T E M E N T OF C O N D IT IO N
December 3 1 , 1 9 8 3

RESOURCES

Cash and Due from Banks................
U.S. Government Securities.............
Federal Agencies Securities.............
Bankers Acceptances and
Other Investments.........................
State and Municipal Securities.........
Federal Funds Sold...........................
Securities Purchased Under
Agreement to ReselL

LIABILITIES

i 65,135,814.46
86,643,387.43
98,329,364.78
3,278,103.30
8,054,949.08
199,760,000.00
264,620,000.00

Demand Deposits:
Individuals, Partnerships
and Corporations......................... $
Now Accounts - Individuals.............
Now Accounts - Public....................
Deposits of Banks...........................
State and Political
Subdivisions.................................
Official Checks, etc.........................

5,236,426.50
925,034.98
7,610,381.50
37,973,646.1 1
4 6,728,618.08
1,251,262.35
$99,725,369.52

Loans

FmHA Business &
Industry Guaranty
FmHA Housing Guaranty.
FHA and Gl
Home Loans.............
Farm R.E. Loans...........
R.E. Contracts...........j.
Loans to
State Institutions. .. .
Bank Stock Loans.......
SBA Participation Loans
N.D. Bank Participation
Loans.........................
Federally Insured
Student Loans.........
Other Loans................
TOTAL LOANS.........................
Accrued Interest Receivable. . .
Bank Building and Equipment. .
Unamortized Bond Issue Costs.
Other Assets.............................
TOTAL RESOURCES................

5,754,093.22
1,127,978.91
1 63,281,704.29
1 7,922,546.26
1 64,983.72

Time’ and Savings Deposits:
Individuals, Partnerships
and Corporations.
..............
State and Political
Subdivisions.................................

Trnrl-

146,056.02
6,316,956.88
10,407,725.34

■- ■
80,931,251.03
1 27,960.00
810,1 16.19
2 86,991,371.86
1 1,138,301.58
1,447,449.91
947,1 95.1 5
7,735,809.61
$1,034,081,747.16

30,578,028.42
3 46,339,321.83
$376,91 7,350.25

)EPOSITS*. . ^ ........................ 476,642,719.77
:ed. Fds. Purch. & Sec. Sold
Under Agreement to Repurchase.. . . 453,88 6 ,3 3 6 .80
Accrued Interest Payable....... , ............
5,464,454.09
.Other inabilities. - .‘ .T............................
13,554,790.42
Long Term Debt-Mtg. Bonds................
35,1 08,000.00
Reserves...............................................
6,500,000.00
Capital...................................................
18,000,000.00
Surplus...................................................
18,000,000.00
Undivided Profits..................................
6,925,446.08
49,425,446.08
TOTAL LIABILITIES,
RESERVE & CAPITAL......................... $1,034,081,747.16

The Nation's Only State Owned Bank
North Dakota Industrial Commission
Allen I. Olson, Governor

Of
Dakota

Chairman
Robert O. W efald, A tto rn e y General

Member
H. Kent Jones, A griculture Commissioner

Member
H.L. Thorndal, President


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Northwestern Banker, February, 1984

44

R.W. BROSTROM

D.A. NELSON

to assistant vice president in com­
mercial banking; James F. Crawford
to assistant vice president in opera­
tions; Shirley A. Brevig to opera­
tions officer and Broadway Bank
manager, and Steve Tonneson to
compliance officer.
Steven D. Vangsness has joined
Norwest Bank Minot as assistant
vice president, agri-business depart­
ment.

J.F. CRAWFORD

S.A. BREVIG

Mr. Vangsness, who previously
was a senior loan officer at Minot
PCA, was promoted to second of­
ficer as a result of Ray Skorheim
retiring in December as vice presi­
dent in the agri-business depart­
ment, and Duane L. Peterson being
promoted to vice president and
manager of that department.
Mr. O’Donnell joined the bank in
1981 as vice president in commercial

S. TONNESON

S.D. VANGNESS

-

lending. He has also served at Nor­
west banks in Mason City, Iowa,
and Mankato, Minn.
Also at Norwest Bank Minot,
Raymond O. Skorheim, vice presij^
dent and manager of the agricultural
lending department, has retired
after 25 years. Arnold E. Fiedler,
vice president and manager of the
real estate department, has retiree^
after 31 years.
as a financial analyst. Mr. Beulow
worked at Norwest Bank Bismarck
and also served as an auditor with
Norwest Audit Services, Inc. in®
Helena before joining the Billings
bank.

Named in Malta

•

Tim C. Alzheimer has been named
assistant vice president and ag loan
officer of First Security Bank of
Malta, according to G. Ross Robin-^
Miles City Elections Told
Three Join Billings Bank
son, chairman.
™
The board of First Bank Miles
Three new staff members have
Mr. Alzheimer joined the bank in
City has elected Marc A. Lackman joined Norwest Bank Billings, ac­ 1980 after graduating from North­
as vice president and comptroller cording to Thomas H. Farris, presi­ ern Montana College in Havre.
and Donald L. Nightengale as assis­ dent.
tant vice president in charge of con­
Thomas C. Daniel has joined as
vice president and manager of a
sumer and real estate loans.
Mr. Lackman’s previous banking newly-formed consumer banking di­ Promoted in Stevensville
Marci Smith has been promoted
experience includes three and-a-half vision. Mr. Daniel previously was
years at First Bank Western in Mis­ with Norwest Real Estate Advisors to assistant cashier of First State
soula and three years as regional in Minneapolis as vice president in Bank of Stevensville. She joined thé®
bank in 1981 and most recently held
auditor for First Bank System.
marketing.
the position of commercial loan as­
Mr. Nightengale most recently
sistant.
was associated with the marketing
The bank also announced the re­
division of Telecrafter Corp. in Bil­
cent election of Gene Magini, local®
lings. He has nine years of practical
rancher, and Dan Cranston, ownerlending experience in banks, credit
operator of Cranston plastics, to the
unions and industrial banks in Mich­
board.
igan and Colorado.

Two Elected to Board
Curtis A. Ammondson and Dale
Forbes have been elected to the
board of Trust Corporation of Mon­
tana, Great Falls.
Mr. Ammondson is managing
partner of the CPA firm of Hamilton
Misfeldt & Company. Mr. Forbes is
an attorney and partner in the law
firm of Church, Harris, Johnson &
Williams.

Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Sidney Addition Announced
The Richland National Bank &
Trust, Sidney, recently announced
the addition of Mike Rieck to i t ^
Timothy J. Lacey has joined in staff in the commercial loan area.
Mr. Rieck has been involved in
the newly-created position of client
executive. Mr. Lacey has worked banking since 1977, and for the past
with the H.C. Oil Company as vice three and-one-half years has worked
with consumer and commercial lend-^
president-finance since 1981.
Larry P. Beulow joined the bank ing in Valley City, N.D.
T.C. DANIEL

T.J. LACEY

45
cording to Robert G. Miller, Chair­
man.
Under the terms of the agree­
ment, both banks will continue to
operate independently under the
common ownership of First Na­
tional Bankshares, a Wyoming cor­
poration with local ownership.
F. Don Steadman has been se­
lected to serve as the president of
Ranchester State Bank. Approval of
regulatory authorities is required
staff as head of the instalment loan before the transaction can be final­
Mills President Elected,
ized.
department.
Department Head Named
Mr. McNall formerly was with
Harley G. Davis has been elected Norwest Finance and is a graduate
resident and director of the State of the University of Wyoming in Casper Employee Recognized
Bank of Mills. He succeeds Robert Laramie with a bachelors degree in
First Interstate Bank of Casper
L. Wonio, who recently retired. Mr. accounting.
recently recognized Elaine Hoshaw,
Wonio had served as president since
assistant vice president, for 25 years
¿ L e bank’s beginning May 14, 1979.
of service with the bank. The service
Mr. Davis joins the bank with 29
award was presented to Hoshaw by
years of banking experience from First National, Sheridan
Donald J. Swanton, executive vice
various Illinois banks. He most re­ To Acquire Ranchester State president.
cently was executive vice president
First National Bankshares, the
Ms. Hoshaw joined the bank in
^pf First Guthrie City Bank in Gran­ parent corporation of the First Na­ 1958 and has spent her entire career
ite City, Illinois.
tional Bank of Sheridan, has reached in the mortgage loan department.
State Bank of Mills also announced an agreement to acquire the Ranch- She plans to retire from the bank
that Greg McNall has joined the ester State Bank, Ranchester, ac- this month.

New Bank in Greeley,
Firstmark Industrial Bank
Two Greeley financial institu­
io n s , Firstmark Financial Services
and Firstmark Industrial Bank,
joined in January to form Firstmark
Industrial Bank of Greeley. Firstjjiark is a subsidiary of Buffalo, New
^Fork-based Firstmark Corporation.
Jim Nelson, formerly vice presi­
dent of Firstmark Financial Ser­
vices, will be president of the bank,
¿ e te r Stewart will serve as vice pres­
ident, with Vern Wakeman, Elmer
Stolte and Duane Schneider as assis­
tant vice presidents.

¿‘Trends for the 80s”
Theme of Conference

moor Hotel in Colorado Springs.
Theme for the conference is “Col­
orado Trends for the 80s.” This
year’s consumer banking commit­
tee, chaired by Mrs. Jerry D. Sheely,
Colorado National Bank-Boulevard,
Denver, has developed a program
that should be of great value to se­
nior and mid-management person­
nel, even those outside the consumer
banking department.
This year’s conference features two
full days of business sessions, in­
cluding a peer discussion session
focusing on current problems, using
the roundtable format. Registration
is from 5:30-7:00 p.m. on the 19th.
An evening dinner and speaker is
planned along with two luncheon
speakers. Spouses’ activities are
planned as in the past.

The Colorado Bankers Associa­
tion presents the 34th Annual Con­
sumer Banking Conference, to be Vice President Named
“ eld February 19-21 at the BroadRuth A. Roberts has been named

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Federal Reserve Bank of St. Louis

vice president of National City Bank,
Denver.
Ms. Roberts has six years of bank­
ing experience in the Denver area
and has served as director of mar­
keting for National City Bank the
past year.
Prior to joining National City
Bank, Ms. Roberts was employed by
Central Bank of Denver and IntraWest Bank of Denver where she par­
ticipated in retail and trust mar­
keting programs.

First Colorado Bank
Elects New President
J. Barclay Blue has been elected
president of First Colorado Bank
and Trust, Den­
ver, announced
Charles L. Fer­
guson, chairman
and past presi­
dent. Mr. Fergu­
son will continue
as chief execu­
tive officer but
will concentrate
on business de­
J.B. BLUE
velopment, trust
services and new product develop­
ment.
Mr. Blue joined the bank in 1980
as senior vice president in charge of
the commercial lending department.
Northwestern Banker, February, 1984

46
Colorado News
He was promoted to executive vice
president in 1982. Prior to joining
First Colorado, Mr. Blue was vice
president and senior commercial
loan officer at Denver National
Bank, where he started his banking
career in 1967.

president were Cheryl M. Antalek,
Denise G. Bryant and Daniel Scott
Morse.
Also promoted were Virginia Ber­
keley, Eve M. Dann, Nancy L. Derr,
Daryl D. Moellenberg and Doris F.
Shortridge to assistant vice presi­
dent. Marji A. Carlstedt, James A.
Fowler President Named
Ferguson, Conrad J. Freeman III,
The First National Bank of Fow­ Susan L. Graham, Alan M. Lee and
ler has announced the hiring of Karen C. Parrin were promoted to
Roger Schmidt as president replac­ the positions of officer.
Mr. Berenstein, manager of the
ing Warren Switser who resigned in
bank’s check services division, joined
April of last year.
Mr. Schmidt is formerly of Elbert United Bank Service Company in
City, Iowa, where he was self- October, 1973, and joined United
employed in the insurance and real Bank of Denver in June, 1982.
The manager of investment bank­
estate business. Prior to that he was
employed by the Brenton Banks of ing, Mr. Hickel came to United
Iowa for 23 years at Emmetsburg, Bank of Denver in January, 1976, as
a senior loan analyst.
Ayrshire, and Marshalltown.

Two Elections Announced
At United Banks of Colorado,
Inc., Denver, Tucker Hart Adams
has been elected economist and
Robert L. Schoep has been elected
controller.

T.H. ADAMS

R.L. SCHOEP

Adams joined United Banks
in 1978 and Mr. Schoep joined in
1974.

Two Elected to Board
David K. Hight, president and
owner of Hight Enterprises, Inc.,
has been elected to the board of Col­
orado National Bank - Boulder.
Also at the bank, Gayle TanakaMontoya has also been promoted to
operations officer. Mrs. Montoya
joined the bank in 1982 as personnel
manager.

United Bank of Denver
Announces Promotions
United Bank of Denver has an­
nounced the following promotions:
Appointed to senior vice president
were Gerald M. Berenstein and Oli­
ver W. Hickel III. Promoted to vice
DigitizedNorthwestern
for FRASERBanker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

New Vice President Named ^
Edward B. Sturges, president of
Colorado National Bank - South­
west, Littleton, has announced the
promotion of Terry Sandefur to vice
president and cashier.
#
Previously with Vail National
Bank, he joined Colorado National
Bank - Southwest in 1982 as cashier.

Promoted in Arvada

•

Colorado National Bank - Arvada
recently promoted Bryon Nelson to
loan officer, announced Frederick F.
Wangaard, Jr., president.

New President Named At
Central Bank of Stapleton

C. Dale Randall has been name<^
president of Central Bank of Stapleton, N.A. Denver.
Colorado National Leasing
Mr. Randall
has
10 years ex­
Announces Promotions
perience in bank­
Colorado National Leasing, Gol­ ing and 17 addi­
den, a subsidiary of Colorado Na­ tional years with
tional Bankshares, Inc., has an­ federal cred it
nounced the recent promotions of agencies.
He was
Chris Rosell, Kenneth Schuss and previously Dep­
Jennifer Winter to lease marketing uty A ssista n t
officers. Also promoted were Lynn
c D r an d all
Barkalow to senior lease marketing Secretary for the
Economic
Devel­
officer, and Randy Schiell to vice opment Administration in Washing­
president.
ton D.C. and the Deputy D istric#
Director of the Small Business Ad­
ministration
in Salt Lake City, Utah.
Denver Promotion Told
Colorado National Bank - North­
east, Denver, recently promoted Colorado Springs Promotions
Colorado National Bank - Ex^
James Collins to vice president and
cashier, as announced by Dan Clark, change, Colorado Springs, recently
promoted Janice Reed to assistant
president.
Mr. Collins joined the bank in vice president - bankcard division
1972, and has held several positions manager; David Tinson to vice presj^
in loan operations and administra­ dent of marketing and business de­
velopment; Robert Creed to loan re­
tion.
view officer; Jacquelyn McDonald to
new accounts officer, and Elizabeth
Four Promoted in Denver
Rackl to operations credit officer. ^
The board of Colorado National
Bank - Boulevard, Denver, recently Appointed in Denver
promoted Natalie Failing and Joseph
Will F. Nicholson, Jr., president
Wolkensdorfer to the position of
vice president. Also announced were of Colorado National Bankshares,
the promotions of Sandra McElroy Inc., Denver, has announced the ap#
and Gaylene Ellis to assistant vice pointment of Rebecca Cordes to as­
sistant auditor and Larry L. Hunter
president.
to assistant vice president - auditing
division manager.
Promotion Announced
William F. Lloyd, president of
Colorado National Bank - South, Joins Pueblo Bank
Colorado National Bank - Pueblo,
Denver, has announced the promo­
tion of Kathleen Hellweg to assis­ has announced that William Adams,
tant vice president and cashier. Ms. Jr. joined the bank as loan review o ^
ficer.
Hellweg joined the bank in 1978.

47

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Northwestern Banker, February, 1984

"I need a correspondent banker
who’ll work as hard for my bank
as he does for his own.”

#
,

T h a t’s ju s t w h a t a w o r k in g r e la tio n s h ip w ith N B C o ffe r s .
If you judge them by their ads, correspondent banks look
quite a bit alike. But the banks we serve are looking for
more than a friendly smile and a passing knowledge of
their special problems. They’re looking for a professional
partnership they can count on.
Our working relationship involves all the traditional
correspondent services plus programs that are uniquely
ours: from customized bank cash management services, to
a clearinghouse for banking forms, to financial planning
software packages for banks and their customers. Vital
contact includes our “ News 8. Views” executive letter
citing industry trends and changing regulations.
In today’s competitive financial market, you need that kind
of support from your correspondent. Call us to hear more
about what our clients mean when they say, “ NBC works
for me.”

SC

T h e C o r r e sp o n d e n t B a n k in g D iv is io n o f N a t io n a l B a n k o f C o m m erce
NBC C en ter, 13th & O St., L in c o ln , N e b ra s k a 68508, T e le p h o n e (402) 472-4321 / M em ber FDIC

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Federal Reserve Bank of St. Louis

£

49
Graves as commercial loan officer.
Prior to his appointment, Mr.
Howard served as credit analyst for
the bank. He was graduated from
the University of Nebraska with a
masters in business administration.
An eight year employee with the
bank, Mrs. Graves previously was
instalment loan manager and com­
pliance officer. She will continue to
serve as compliance officer along
with her new responsibilities.

Rash of Anti-Bank Bills Proposed
N ATMOSPHERE of near hys­
A
teria seemed to prevail as the
Nebraska legislature opened last
month and was immediately con^rn ted with a number of banking
bills coming in the wake of the
failure last fall of Commonwealth
Savings Co., an industrial bank in
Lincoln. One observer noted,
(§They’re outdoing the Bert Lance
reaction in Congress of several years
ago!”
As a consequence, there were nine
bills scheduled for hearing on one
• y alone—January 31—that the
Nebraska Bankers Association had
to oppose. Most dealt with the aftermath of feelings related to Common­
wealth’s failure.
# L B 939, for example, would make
it a crime if an officer or director of a
bank discovered a violation of law in
his or her state bank and didn’t re­
port it immediately to the director of
•inking. A companion bill would
obligate the director of banking to
notify the county attorney who, it is
assumed, would then take action.
Apparently, this would cover bank
•am in ers as well, if they should
find any technical violations of
law—such as in Truth-in-Lending or
other laws enacted in recent years.
If a bank technically was at a point
#here it needed to purchase Fed
Funds for liquidity requirements,
that level could be considered a
violation of law and reportable
under the proposed law.
®As expected, Sen. John DeCamp
introduced LB 1069 to authorize re­
gional banking. That hearing also
was slated for January 31.
Another bill reflects the strong
movement by thrifts seeking public
funds in their institutions. They
have been litigating the matter for
15 years for mutual s&ls. This year,
Uaeir bill would authorize deposit of
* b lic funds in stock s&ls and sav­

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

ings banks.
LB 1031 would knock Nebraska’s
usury rate to 2 % over the 90-day
T-Bill rate, adjusted quarterly. NBA
opposes this as well.
LB 1039 would give the director
of banking broad powers very simi­
lar to FDIC powers of enforcement;
e.g., shutting down a bank, forcing a
resignation, etc.
Other bills of interest to Nebraska
banks also have been proposed.
These were ones of immediate con­
cern at press date.
□

Senior V.P. Elected in York
First National Bank of York has
announced the election of John R.
Munn as senior vice president a
member of the board, responsible for
the lending division of the bank.
Mr. Munn most recently had been
serving as a correspondent bank of­
ficer with the National Bank of Com­
merce in Lincoln, here he had been
since April, 1983. Prior to that he
served at Cattle National Bank in
Seward, responsible for its lending
division. He joined that bank in
1975.

NBA Moves to New Quarters
The Nebraska Bankers Associa­
tion moved its headquarters last
month to 525 South 13th Street,
Lincoln, 68508. The Association tel­
ephone number will remain the same.

Grand Island Appointments
E.J. Thayer, president and chief
executive officer of Commercial Na­
tional Bank and Trust Company in
Grand Island, recently announced
the appointment of George Howard
as vice president and manager of
commercial and real estate loans
and the appointment of Betty

Executive Changes Made
At Cass County Bank
David J. Duey has retired as pres­
ident of Cass County Bank in Plattsmouth and has been named chair­
man of the board. He is succeeded as
president by his son, Douglas V.
Duey, 36, formerly vice president,
who has been with the bank 13
years.
It was also announced that Mary
E. Wallace, vice president and
cashier, also has been elected a direc­
tor. Terry Gaebel, former county
treasurer, has joined Cass County
Bank as a vice president.
David Duey founded Cass County
Bank in 1966 and the bank now has
approximately $10 million in assets.
After 20 years as a businessman in
southwest Nebraska, Mr. Duey joined
the Nebraska department of bank­
ing as an examiner, working there
until obtaining the bank charter in
1966.
Douglas Duey is a graduate of the
University of Nebraska-Lincoln and
currently is a member of the ABA
Council for Community Bankers.

Howard Berger Retires After
38 Years in Scottsbluff
Howard S. Berger, senior vice
president of First State Bank in
Scottsbluff, retired January 1 after
38 years with the bank.
An eastern Nebraska native, Mr.
Berger served as a bookkeeper in
Genevea, his hometown, to earn
funds to study business administra­
tion at the University of Nebraska
before working for First National
Bank in Lincoln. He joined First
State Bank in Scottsbluff as a teller
after a tour in the military.
While at First State, Mr. Berger
served in every aspect of banking
until his election as senior vice presi­
dent.
Northwestern Banker, February, 1984

50

MAHA National Corporation
O
announced last month that its
offer to purchase up to 775,000
shares of common stock of First Na­
tional Lincoln Corp. at $42.50 per
share had expired as scheduled on
January 6 , 1984, and that no further
tenders of shares would be accepted.
Omaha National officials said
that, at the expiration of the offer,
approximately 814,000 shares (ap­
proximately 47.5%) of First Na­
tional Lincoln common stock had
been tendered pursuant to the offer.
They stated further that Omaha Na­
tional would exercise its right to
purchase more than 775,000 shares
and, subject to the terms and condi­
tions of the offer, would purchase all
of the shares tendered pursuant to
the offer and not withdrawn, for
$42.50 per share, without proration,
as soon as practicable after the
receipt of necessary regulatory ap­
provals and the expiration of ap­
plicable regulatory waiting periods.
Omaha National’s offer is condi­
tioned, among other things, upon
receipt of approval of the Board of
Governors of the Federal Reserve
System, for which application has
been made. Omaha National offi­
cials said that the staff of the Fede­
ral Reserve Board was currently in
the process of reviewing Omaha Na­
tional’s application for regulatory
approval and that action by the
Federal Reserve Board on the pen­
ding application could be expected
as soon as the staff’s review is com­
plete.
Shares tendered to Omaha Na­
tional may be withdrawn at any
time prior to their purchase by
Omaha National.
Omaha National and First Na­
tional Lincoln have entered into a

Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

merger agreement which provides
for the merger of First National Lin­
coln with Omaha National, with the
surviving company to be renamed
“Firstier, Inc.”
* * *
James R. Campbell, regional pres­
ident of region V - Norwest Corpora­
tion, and chairman of the board of
Norwest Bank Omaha, has announc­
ed changes in the duties, responsibil­
ities and titles for the three top exec­
utive at Norwest Bank, as part of a
continuing effort to streamline the
operation and day-to-day manage­
ment of the bank.
John R. Cochran, who became
president of Norwest Omaha in 1982,
will assume the
additional posi­
tion of chief ex­
ecutive officer.
Mr. Cochran, a
graduate of the
U n iv e rsity of
Iowa, has been
w ith N orw est
Corporation for
sixteen years.
J.R. COCHRAN
His career has

G.W. O’ KEEFE

J.A. LINDHJEM

included serving as president and
chief executive at Norwest Bank
Calhoun Isles in Minneapolis and

Norwest Bank Rochester, M inn^
sota.
G.W. “ Sam” O’Keefe will con­
tinue in his present position as exec­
utive vice president and chief credit
officer at Norwest Omaha. Additioi^
ally, he will become an officer of Nor­
west Corporation, serving as chief
credit officer for region V. Mr.
O’Keefe joined Norwest Corporation
in 1953 at Norwest Bank D ulutl^
Minnesota. In 1973, he was ap­
pointed president and chief execu­
tive officer of Norwest Bank Vir­
ginia, Minnesota. A graduate of the
University of Wisconsin and th ^
Stonier Graduate School of Bank­
ing, Mr. O’Keefe has served in his
present position at Norwest Omaha
since 1977.
Jon. A. Lindhjem, chief financig#
officer, was elected executive vice
president. Mr. Lindhjem came to
Norwest Omaha in March of 1983
from the Mercantile Bank in St.
Louis, Missouri, where he held th #
position of vice president/controller.
Mr. Lindhjem received his under­
graduate degree in Finance from the
University of Illinois and his MBA
from Wayne State University, D #
troit, Michigan. He is also a gradu­
ate of the Stonier Graduate School
of Banking.
* * *
John C. Furstenberg has been
named manager of Omaha National
Bank’s new Regency office, which
opened December 19 at the LakesidF
Atrium Building, 10407 Devonshire
Circle.
Mr. Furstenberg joined the bank
in 1968 as a trainee and worked m
operations, advertising, consumer
marketing and as a municipal bond
underwriter before being named a
vice president and correspondent/
agricultural lending officer in 1 9 7 ^
In 1978 he moved to the commercial
lending department and has served
as a commercial banking officer
since that time.
Omaha National’s new Regency
office will offer a full line of personal
commercial and trust services, as
well as safe deposit. The 5,000square-foot walk-in office has its
own entrance. The facility also ij£
eludes a six-lane drive-in. The sixth
lane will contain a drive-up MoneyMat Day/Night Banking Center.
Kathryn M. Ritonya has been
named assistant manager of the n e ^
office. She joined the bank in 1973

Ralph Peterson

Don Ostrand

Fred Kuehl

THE
ANSW ER
MEN

•

0

CORRESPONDENT banking can be confusing, frustrating,
time-consuming. Not so at First National Bank of Omaha.
Just call to get the answers from one of our six experienced
correspondent bankers. Six men with the very latest
financial technology at their fingertips dispensing profession­
al, dependable, confidential service.
So call us for the answers to your correspondent
banking questions — on electronic data
processing, cash letter processing, overlines,
fed-fund transactions and more. ~
In Nebraska, call 1-800-642-9907. Outside
Nebraska, call 1-800-228-9533. You'll get the
answers from us, the answer men.

first national bank
of omaha


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Member FDIC

52
Nebraska News
and has worked as a teller, personal
banker and as supervisor of custo­
mer service. Most recently Mrs.
Ritonya was assistant manager of
the Personal Banking Center at
Omaha National’s main bank down­
town.
* * *
Rikki F. Hulsebus has been pro­
moted to compensation and benefits
officer at Norwest Bank Oma­
ha, according to
John R. Cochran,
p resid en t and
chief executive
officer.
Mrs. Hulsebus
began her career
with Nor west in
1970 in the hu­
R.F. HULSEBUS
man resources
department. In 1976 she was ap­
pointed job analyst and in 1981 was
named compensation analyst.
* * *
John D. Woods, chairman of Realbanc, Inc., has announced the naming
of William R.
Schmid as man­
ager of a newlyformed loan pur­
chasing depart­
ment, and the
p ro m o tio n of
George S. Akers
to officer status
and Marlin T.
Hupka to assis­
W.R. SCHMID
tant officer.
Mr. Schmid formerly was vice
president of the mortgage loan divi­
sion of the Nebraska Federal Sav­
ings and Loan Association and most
recently has worked on special pro­
jects for the American Charter Fede­
ral Savings and Loan Association.
Mr. Akers joined the company in
1981 as a loan administration super­
visor and currently is branch
manager of Realbanc’s Oklahoma
City office.
Mr. Hupka joined earlier this year
and currently is a loan originator in
the firm’s Lincoln office.
* * *

Commercial Federal Savings and
Loan Association announced early
last month that its members have
approved the conversion of the
mutual association to stock owner­
ship. Concurrently, a new holding

Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

company, Commercial Federal Cor­
poration, has been created.
William A. Fitzgerald, president,
said that approximately 65% of
Commercial Federal’s depositors
were in support of the conversion.
He reported that the sale of capital
stock would result in an increase in
Commercial Federal’s net worth,
providing a firmer basis for expan­
ding geographically and further
diversifying business activities.
* * *
Promotions were announced for
nine staff members of First National
Bank of Omaha by the executive
committee last month. They are:
James E. Senter to vice president,
data processing and operations divi­
sion.
Second vice
p re s id e n ts —H.
Frederick Kuehl
and Steven K.
Ritzman, corpo­
rate and finan­
cial institutions
division.
Operations of­
ficers—Fran A.
J.E. SENTER
Flairty, corpo-

H.F. KUEHL

S.K. RITZMAN

J.F. ESCHER

D.S. ERKER

K.C. MC CORMICK

C.T. NAKAMOTO

Mr. Senter joined the bank m
June, 1982, as a second vice pre^dent. He is now the project manager
on a bank computer system. He re­
ceived his Bachelor’s degree summa
cum laude from Arizona State Ui^versity and is a retired Air Force Lt.
Colonel.
Mr. Kuehl has been a second vice
president and correspondent bank­
ing officer. After receiving his B .^
degree from the University of Ne­
braska at Lincoln he joined the bank
in 1977. He is also a graduate of
Iowa State University’s Ag Credit
School.
q
Mr. Ritzman, who joined the bank
in 1979 as a commercial loan officer,
is a director of the RMA-Midlands
Chapter. He is a graduate of the
University of Wisconsin.
£

Pierce Bank Purchases
Foster Cooperative
Cones State Bank, Pierce, has
purchased the Foster Cooperati^
Credit Association of Foster, accord­
ing to James I. Black, president.
Upon approval of regulatory au­
F.A. FLAIRTY
R.A. HUDDLESTON
thorities, Foster coop will become a
branch of the bank. Combined a™
rate and financial institutions divi­ sets after the purchase will be over
sion; Richard A. Huddleston, data $32 million.
processing and operations division,
and John F. Escher, Bankcard divi­ Creston Co-op Loses Bond#
sion.
Loan officers—David S. Erker, Faces Uncertain Future
Upon losing its bond with St.
and Keith C. McCormick, corporate
Paul Fire and Marine Insurance Co.,
and financial institutions division.
Marketing officer—Craig T. Naka- the Creston Cooperative Credit M sociation planned to seek a banx
moto, Bankcard division.

53

Nebraska News

charter. After initial investigation,
it was then learned that the state
banking department would require
$750,000 to obtain the charter, ac­
cording to Helen Schwanebeck, sec­
retary-treasurer of the co-op. This
was $250,000 more in capital re­
quirements than anticipated, she
said.
Although she doubted that could
be raised, Ms. Schwanebeck said the
organization has until March 12 to
raise the funds. Alternatives include
merging with a bank, forming a
credit union or liquidating, she
stated. The association’s 50-year
charter expires this July.

Continental Has Training
Program For Trainers
Continental Bank of Chicago has
developed a new self-study program
designed to help institutions maxi­
mize their training efforts.
This “Train the Trainer’’ program
includes videotapes, audiotapes, a
workbook and other planning activi­
ties that enable the trainer to pre­
pare for actual training sessions, not
just exercises.
“ In many financial institutions
training responsibilities, either
classroom or on-the-job, fall to indi­
viduals with little or no training
background,’’ said Jeanne Baird, se­
cond vice president and manager of
Continental’s advisory services divi­
sion. ‘“Train the Trainer’ is de­
signed to give these individuals the
skills, guidance and confidence they
need to conduct successful training
sessions. It is a self-contained, selfadministered, reusable program
that takes participants through the
actual sessions they are going to
teach.’’
In a step-by-step fashion, the pro­
gram covers procedures necessary
for planning, preparing, implement­
ing, reinforcing and evaluating
classroom and on-the-job sessions as
well as getting management’s sup­
port for training. It was designed to
help experienced trainers improve
their skills as well as teach beginn­
ing trainers.
Continental Bank’s advisory ser­
vices division was established in
1970 to serve correspondent banks
and provide them with a series of
economical training and information
programs. “Train the Trainer’’ is the
eighth addition to the product line
under the direction of Jeanne Baird.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Statement of Condition
DECEMBER 31, 1983
ASSETS
Cash on hand and due from b a n k s ............................................................
Treasury, Federal Agency and Government guaranteed obligations
Municipal b o n d s ...........................................................................................
Loans and d is c o u n ts ..................................................................................
Federal funds sold and securites purchased under
agreement to re s e ll...................................................................................
Banking house, furniture and fix tu re s ........................................................
Other a s s e ts .................................................................................................
Toal a s s e ts ...............................................................................................

$

9,194,000
13.416.000
14.870.000
60.049.000

15.973.000
2,661,000
5,493,000
$121,656,000

LIABILITIES
Deposits ....................................................................
Capital s to c k ..............................................................
Surplus .......................................................................
Undivided profits and other reserves........................
Federal funds purchased and securities sold under
agreement to repurchase........................................
Other lia b ilitie s ............................................................
Total liabilities ........................................................

$ 94,183,000
200,000

800,000
8.329.000
16,488,000
1.656.000
121,656,000

OFFICERS
Russell E. Kendall, Chairman of the Board
Laddie J. Kozeny, Vice Chairman of the Board
Dennis R. Wood, President
Donald E. Dworak, Executive Vice President
W.D. Bowen, Senior Vice President
Donald E. Thompson, Senior Vice President
Thomas K. Grove, Senior Vice President
Marvin C. Kelley, Senior Vice President
James R. Riha, Senior Vice Pres, and Comp.
Robert L. Schilke, Cashier
Helene M. Lesac, Assistant Vice President
Thomas M. Stoker, Assistant Vice President
Terence J. Tvrdik, Assistant Vice President
Donald F. Holst, Assistant Vice President
Patrick Conway, Assistant Vice President
Patrick Coyle, Trust Officer
Karen Lee, Bond Investment Officer
Gerard Schmidt, Loan Officer
Dolores O’Connor, Facility Manager
Mary Thompson, Personnel Officer
Timothy P. Galvin, Credit Officer
Diane Bidrowski, Auditor
Michael Drahota, Investment Banking Officer
James Kay, Bond Investment Officer
Terry Reiff, Bond Investment Officer
James P. Harding, Loan Officer
Darla Sorenson, Bond Investment Officer

BOARD OF DIRECTORS
John C. Barry
Larry L. Bazata
John W. Cattle, Jr.
Douglas A. Friedli
Donald E. Dworak
Donald L. Ellison
Jeff L. Gerhart
Robert L. Hayter
C.R. Hilderbrand
David Lee Jacobsen

Russell E. Kendall
Laddie J. Kozeny
James T. McCabe
Andrew McMullen
Paul L. Merker
Guy L. Saunders
Dean Sladek
Gene Stanosheck
Rudy F. Stoysich
Lloyd E. Van Cleef
is R. Wood

packers national bank
v

402- 731-4900

m

Or TOLL FREE In Nebraska
800- 642-9980

4710 South 23rd Street

Omaha, Nebraska 68107

Northwestern Banker, February, 1984

54

NBA Personnel/Human
^
Resources Conf. ■ Feb. 28-29
The Nebraska Bankers Associa­
tion 1984 Personnel/Human Re­
sources Conference will be held Feb­
ruary 28-29 at the Kearney R am ad ^
Inn. Marshall Jones and Company,
Personnel Consulting Services, Inc.,
will conduct this year’s program.
Registration will begin at 3:30
p.m. on the 27th with an early birc^
session from 4:00-7:00 on “Power of
Suggestion“—Dave Nelson, chair­
man, Department of Finance, Bently College, Waltham, Mass. A Per­
sonnel Committee Meeting will b ®
held at 7:00 p.m. The schedule for
the conference follows:

First National Lincoln has an­ moting all services offered by the
nounced the election of Clark Mat­ trust division.
tingly as vice president and auditor
In other promotions, Lyle Hiatt
Tuesday, February 28
and C. John Guenzel as vice presi­ was named assistant vice president
dent and trust marketing manager. in the municipal and government A.M.
Both were formerly assistant vice bond division; Jim Farber was made
8:00 Registration.
assistant vice president and farm
presidents.
8:30 F u tu rism of B an k in g —
management supervisor in the trust
Dave Nelson.
®
division, and Keith J. Gredys was
9:00 Creating an Effective Work
named assistant vice president and
Environment.
trust marketing officer. Promoted to
P.M.
assistant vice president and trust in­
0
vestments officer were Gary L. 12:00 Lunch
Employee Wellness Presen­
Hoemann and Robert C. Tredway.
tation.
1:30 EEO Session.
Benkelman Officer Named
HHPf ÊÊm MMmmIllllilf l i l i
Incentive C om pensation
C. MATTINGLY
C.J. GUENZEL
P ro g ra m s —P a y in g foi 0
Wanda R. Peckham has been pro­
‘True’ Performance.
Mr. Mattingly has been an audi­ moted to operations officer of State
Termination of Employ­
Bank in Benkelman.
tor since joining the bank in 1978.
ment.
Mrs. Peckham has been an em­
Mr. Guenzel will continue his re­
5:00 Reception.
sponsibilities of planning and pro­ ployee of State Bank since 1979.

•

Wednesday, February 29
A.M.
8:00 Continental Breakfast.
8:30 Developing Your Banks Per0
formance Appraisal System.
Determining the Objectives
of the Performance Apprai­
sal Process.
9:30 Identifying Behavioral Per0
formance Anchors.
10:30 Break.
10:45 W orking W ith in Your
Bank’s Performance Apprai­
sal System.
#
P.M.
12:00 Lunch.
Nebraska Legislative Up­
date.
j
1:00 Preparing Performance Ap­
praisal Documentation.
Program Summary and Re­
new of Handout #11, Useful
^
Appraisal Guidelines.
3:30 Adjourn.
DigitizedNorthwestern
for FRASERBanker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

55

•

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of First National Lincoln.

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FIRST NATIONAL LINCOLN

13th & M Streets • P.O. Box 81008
Lincoln, NE 68501 • Phone (800) 742-7376

Member, F.D.I.C.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Northwestern Banker, February, 1984

Export-Im port
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Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

57
that ANC has purchased control of
the State Bank & Trust Co., Nevada.
Mr. Stafford said all stockholders
have exchanged their State Bank &
Trust shares for stock in the Ames
National Corporation. Both banks
will continue to operate indepen­
dently with no change in staffs.
Harold T. Fawcett, who continues
as president and chairman of State
Bank & Trust, also has been elected
vice chairman of Ames National
Corporation.
Assets of Ames National Corpora­
tion after the merger stood at $158
million, with First National of Ames
an acquired savings bank would not having approximately $114 million.
be counted in deposits, thus ob­ State Bank & Trust $40 million and
the holding company $4 million.
viating current law.
The IBA board also endorsed leg­
islation which would eliminate the Cedar Falls Bank
current sinking fund to protect pub­ Appoints New President
lic deposits in failed banks, and sub­
Cedar Falls Trust & Savings
stitute for it a requirement that Bank has announced the appoint­
banks holding public deposits would ment of Don Linhave to pledge as collateral federal daman as presi­
or state securities valued at 110 % of dent. He suc­
those public deposits.
ceeds Paul Hall,
Iowa’s multi bank holding com­ who will remain
panies, which have been pushing for at the bank as
expansion especially of the 8 % limi­ chairm an and
tation, were reportedly in general chief executive
agreement with the IBA proposal. officer.
Paul Dunlap, president of Hawkeye
Prior to his
Bancorporation, Des Moines, said, a p p o in tm e n t,
D. LINDAMAN
“This is an acceptable compromise Mr. Lindaman
so far as we are concerned.”
served as senior loan officer and
The Iowa Independent Bankers cashier and served on the board of
legislative committee was meeting directors. He brings 27 years of ex­
late last month to review the IBA perience to his new position.
proposal. The I IB had voted at its
Two other appointments were
latest full meeting to retain present also announced. Clifford Mortenson
Iowa law governing holding com­ was appointed manager-supervisor
panies, including the 8 % limitation. of all commercial and agricultural
loan business and Angie Gordon has
Ames National Corporation
been appointed accounting officer.
Buys State B&T, Nevada
Mr. Mortenson, a vice president,
Robert W. Stafford, president of also serves on the bank’s board. Ms.
Ames National Corporation, the par­ Gordon is a graduate of the Univer­
ent company of First National sity of Northern Iowa, studying to
Bank, Ames, announced last month become a CPA.

IBA Supports Bank Reciprocity with
Contiguous States with Limitations
T A MEETING on January 21,
A
the Iowa Bankers Association
board of directors took a position on
the subject of interstate banking by
^pporting a motion for reciprocity
with contiguous states, but with a
narrow limitation.
Under the IBA board proposal, a
holding company in a state con{§guous to Iowa could purchase only
an Iowa multi bank holding com­
pany that owns 10 or more banks
and has at least $750 million depos­
its, assuming that out-of-state hold­
ing company’s home state has voted
reciprocity with Iowa. Apparently,
the board members felt that whether
a large holding company is owned
within the state or outside the state
9 not of too much concern once the
holding company gets that large. If
the Iowa legislature should choose
to proceed with a bill seeking bank­
ing reciprocity with adjoining states
Wte IBA proposal, if it prevails, thus
would prevent the purchase of indi­
vidual banks within Iowa.
The IBA board further voted to
include the deposits of savings and
&an associations and credit unions
along with those of commercial
banks when determining the 8 %
limitation governing MBHC owner­
ship of deposits in Iowa. Neil Milftr, IBA executive vice president,
said this would effectively raise to
about 10.4% the level of deposits a
holding company could own among
commercial banks. Under present
Ww, if a bank buys an s&l in Iowa,
those deposits must be included in
the 8 % total; however, deposits of
the four savings banks are not
vered by present law since they
me into being since the law was
enacted. The IBA board felt this
would best be remedied by including
the deposits of both types of thrifts
'thin the definition of present law.
was pointed out that deposits of

S


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1984 Iowa Group Meetings
Group
11
6
8

7
4
5
2
12

3

Date
February 19-20
May 7
May 8
May 9
May 10
May 14
May 22
May 23
May 24

Location
Burlington
Des Moines
Iowa City
Waterloo
Dubuque
Council Bluffs
Fort Dodge
Okoboji
Clear Lake
Northwestern Banker, February, 1984

58

Iowa News

FBS Ag Credit
Opens Office in Ames
FBS Agricultural Credit Corpora­
tion, the agricultural finance subsid­
iary of First Bank System, Inc. Min­
neapolis, has opened an office in
Ames at 230 - Southeast 16th Street,
Suite 2 , Camelot Office Park. The
company also has offices in Cedar
Rapids, Mason City, and Spencer.
Michael P. Septer, vice president
and manager of the Iowa region has
announced the
election of Neil
H. Stadlman as
a ss is ta n t vice
p resid en t and
manager of the
Ames office.
Mr. Stadlman
has most recent­
ly been associ­
ated with the N.H. STADLMAN
Sac City State
Bank, where he was vice president
and agricultural representative. He
joined Sac City State Bank in 1974.

Prior to that time he served as an in­ sistant cashier. Ms. Bell joined t l ^
structor in the farm operations de­ bank in April, 1979, and previously
partment of Iowa State University. served as bookkeeper and secretary.

Early Savings Bank
Announces Promotions
Following the monthly board
meeting of the Early Savings Bank,
President Donald W. Kelley an­
nounced the following promotions:
Dennis R. Steele has been elected
assistant vice president, cashier and
security officer. Mr. Steele joined
the bank in October, 1967, and most
recently held the position of cashier
and security officer.
Ruth Ann Scott has been elected
assistant vice president. She joined
the bank in June, 1963, and most re­
cently held the position of assistant
cashier.
Linda Werkmeister has been
elected assistant cashier. She joined
the bank in December, 1974, and re­
cently served as bookkeeper and
head teller.
Mardelle Bell has been elected as­

Farmers & Merchants Bank & Trust
BURLINGTON, IOWA
Statement of Condition
December 31, 1983
RESOURCES
Cash and Due from B a n k s ........................................................
U.S. Government B o n d s .............................................................
Municipal B o n d s .........................................................................
Other B o n d s .................................................................................
Loans and D is c o u n ts .................................................................
Bank B u ild in g ...............................................................................
Furniture and F ix tu re s ...............................................................
Federal Funds S o ld .....................................................................
Other Assets ...............................................................................
LIABILITIES
Capital S to c k ...............................................................................
Surplus .........................................................................................
Undivided P ro fits .........................................................................
R eserves.......................................................................................
Unearned D is c o u n t.....................................................................
Deposits .......................................................................................
Securities Sold Under Agreement
to R epurchase.....................................................................
Interest Bearing Demand Notes
Due U.S. T re a s u ry ...............................................................
Other L ia b ilitie s ...........................................................................
BOARD OF DIRECTORS
W.B. Ditto, M.D.
James L. Kacena - Kacena Equipment, Inc.
Marshall J. Markey - Food Service & Dist. Co.
John McCulley - Oakville Feed & Grain, Inc.
M.A. Nordstrom - Chittenden & Eastman Co.
Melvin E. Raid - Retired
Gerald D. Smith - Brown Shoe Fit Company
C.H. Walsh - President
C.E. Walsh - Vice President
Bruce Werden - Retired
Joseph Wirt - Farmer

$

600,000.00
2,000,000.00
3,019,000.00
850,000.00
498,000.00
66,143,000.00
1,821,000.00

150,000.00
1,099,000.00
$76,180,000.00

OFFICERS
C.H. Walsh, President
R.O. Youngstrom, Senior V.P and Tr. Off.
William A. Kuehn, Vice Pres and Farm Rep.
Leonard W. Lane, Vice President and Comp.
C.E. Walsh, Vice President
Michael D. Eastin, Cashier
W.D. Schnirring, Assistant Vice President
F.W. Rentzsch, Assistant Vice President
Beverly N. Wuellner, Assistant Vice President
John T. Hanna, Assistant Cashier
Richard J. Pilcher, Assistant Trust Officer
Greg Strandberg, Assistant Cashier
Virginia Schramm, Loan Officer
Lisa T. Walsh, Personal Bank Officer

Member Federal Deposit Insurance Corporation


Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

$ 4,398,000.00
31,191,000.00
6,490,000.00
2,949,000.00
23,123,000.00
662,000.00
166,000.00
5,750,000.00
1,451,000.00
$76,180,000.00

Joins Waterloo Bank
Josef M. Vich has joined Peoples
Bank and Trust Company, Water­
loo, as an opera­
tions officer.
Mr. Vich brings
with him to the
bank 12 years of
management ex­
perience. He is a
g ra d u a te
of
Iowa State Uni­
versity and pre­
sently is pursuj .m . VICH
ing a masters de­
gree in business administration 'M
the University of Northern Iowa.

Colesburg Promotions Told
Jo Anne Peters and Linda Cleme^
have been promoted to assistant
cashiers of the Farmers Savings
Bank, Colesburg.
Ms. Clemen will have addition^
responsibilities in consumer lending
and loan documentation. Ms. Peters
will be in charge of bookkeeping, tel­
ler and computer operations.

Three Promoted In Clarinda
Page County State Bank, Clarin­
da, recently announced the promo­
tion of Lowell K. Lines to executi\#
vice president; Dale W. McAllister
to assistant cashier and Janice
Wilson to assistant cashier in
charge of data processing.
Also at the bank, G.W. Richar#
son, vice president and trust officer,
retired after 25 years of service.

Joins Sigourney Bank

•

Daniel O’Rourke of rural South
English has accepted a position with
Keokuk County State Bank of Sig­
ourney as farm representative.
Mr. O’Rourke will continue to i f
engaged in farming. He is a 1979
graduate of Creighton University.

B A N K
DESIGN CONSULTANTS
boY726b RH.1-712.-262149»
S P E N C E R ,IO W A 51301

59

Tb correspondent banking
services at American
Trust and Savings
Anyway you slice it, Correspondent Banking is
better with American THist and Savings.
Our Correspondent Banking Team is sharp.
Together they offer you over 100 years experience.
They have the inside track on banking regulations
and rules. And they can assist you in providing
your customer with a full-range of specialized
banking services.
Behind eveiy good Correspondent Banking
Team is a great TTust Department, like ours. It’s
fully-staffed with experts who prepare inflation­
fighting programs for personal and professional
needs.
These ingredients combined mean service and
growth for your bank and for your customers. Help
yourself to great Correspondent Banking Services by
calling Bernie Miller, American Trust’s
Correspondent Banker at 319/582-1841. He has the
recipe for success.

Services:
Over-line loan participation
Depository for excess funds
Bond investment counseling
(portfolios)
Collections
Domestic and foreign wire
transfer of funds
Currency and silver procurem ent
ACH (Automatic Clearing House
Services)
Cash letters
Custom HR-10s
Keogh prototypes
Corporate profit sharing plans
Tkx shelters
Unincorporated pension plans
IRAs

Bernie Miller,
Correspondent Banker
3 1 9 /5 82 -1 8 41

American Jrrust 6 Savings Danl^
The Dank^of Opportunity
Town Clock Plaza, Dubuque, Iowa 52001 • 319/582-18¿

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Member FDIC and FRS

Northwestern Banker, February, 1984

60

Iowa News

Management Conf. to Meet in Vail

T

HIS year’s Mid-Winter Manage­
ment Conference is set for Feb­
ruary 22-24 at Vail, Colorado. Con­
ference and room reservations can
be made by contacting Sharyn
Baudler at the Iowa Bankers Asso­
ciation, 430 Liberty Building, Des
Moines.
The conference will begin Wed­
nesday evening with a get-ac­
q u a in te d gettogether. Thurs­
day, Feb. 23,
conference a t ­
tendees will en­
joy the ski re­
sort, which of­
fers restaurants,
nightclubs, new
slopes and moun­
tain facilities.
^ SHARKEY
Thursday even-

ing there will be a social hour, dinner
and evening program featuring
guest speaker Eileen Sharkey of
Eileen M. Sharkey and Associates,
Denver Colo. She will discuss certi­
fied financial planning, what it is,
how it serves the bank’s needs as
well as the customer’s needs and
how it can be used by banks as a
marketing tool.
Friday is a day of activities of
your choice in Keystone, Copper
Mountain, Beaver Creek, Dillon or
Breckenridge. Friday evening the
conference will continue with a cock­
tail hour, dinner and presentation by
Larry Martin, general partner in
Strategic Solutions Company, Gol­
den, Colo. He will speak on strategic
planning, the why’s, how’s and re­
sults of a good plan.

Clarion President Named

R.B. “Bob” Bartholomaus has
been promoted to president and
chief executive officer of the First
National Bank of Clarion. He suc­
ceeds R.L. “Bob” Davison, who ha^
resigned after 50 years in banking,
45 of which have been with First Na­
tional in Clarion. Mr. Davison joined
the bank in 1939 as assistant cash­
ier. In 1949 he was promoted to e:#
ecutive vice president and cashier
following the death of C.J. Birdsall.

R.B. BARTHOLOMAUS

Mary C. Dvorak, teller opera­
tions; Barbara S. Elam, personnel;
Susan I. Johnson, consumer lend­
At the annual meeting of the ing; Deborah A. Klopp, retail opera­
board of directors of Merchants Na­ tions; William E. Koehler, adminis­
tional Bank, Cedar Rapids, Henry trative trust; Kaye A. Lauritsen,
Royer, president, was promoted to tax; Dennis L. Ohl, trust; James R.
the additional post of chairman, suc­ Richards, adm inistrative trust;
ceeding James E. Coquillette, who Lynn Whiteman, correspondent
retired last month. Hugo C. Burdt banking, and Charles L. Wise, em­
was promoted to vice president; ployee benefits.
Ronald D. Neil to vice president and
auditor; Allan L. King and William
W. Williams, trust officer, and Two Named in Hills
Carole M. O’Deen, assistant vice
Hills Bank and Trust Company,
president.
Hills, has announced that Roger J.
In addition the following new of­ Reilly has been named assistant vice
ficers were elected:
president in the bank’s loan depart­
ment and Marty J. Maiers has been
named assistant controller.
Mr. Reilly worked as a field ex­
aminer for the FDIC before joining
the Gateway State Bank in Clinton
in 1979.
Mr. Maiers, a CPA, has been as­
sociated with McGladrey Hendrick­
son Company for the past four years
in its Iowa City office.

^

R.L. DAVISON

Merchants National
Promotions Announced

H. ROYER

H.C. BURDT

R.D. NEIL

C.M. O’DEEN


Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

D.D. ASBE

D.C. DOUGHERTY^

Mr. Davison will continue as
chairman of the board, together with
O. Jay Tomson of Charles City as
vice chairman.
Mr. Bartholomaus, who will alfb
serve on the bank’s board of direc­
tors, joined First National in 1964
as cashier. His most recent position
has been as the executive vice presi­
dent and cashier. Prior to jo in i^
First National, he was with The
State Bank of Worthington and The
First State Bank of Rushmore, both
in Minnesota.
Also at the bank, Duane D. As™
has been promoted to cashier. He
joined in 1972 as an officer trainee
and most recently was serving as
assistant vice president.
^
Four Promoted in Lone Tree
Dale C. Dougherty, who has beSi
At Farmers & Merchants Savings with the bank since 1941 and is now
Bank, Lone Tree, Douglas Shanklin on a partial retirement program, has
has been promoted to senior vice chosen to continue with this plan
president; Keith Barnhart to vice and remain on as senior vice pre^president; Ron Trudo to assistant dent and trust officer. Mr. Dougnvice president and Ernestine Slaugh­ erty has been in banking 42 years.
The bank previously announced
ter to cashier and auditor. In addi­
tion, Jerry L. Roller, a local busi­ the employment of Doyle Van Dyne
nessman, has been elected to the as ag loan office and Warren £ .
Clausen as assistant vice president.
board.

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institutions than anyone in Iowa
and our work has received national
award recognition. We know how
to design them better. We know
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4015 Alexandra Drive
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319/234-6641

See a Specialist.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

62

Iowa News

First National, Dubuque
Announced Promotions
First National Bank of Dubuque
announced the following promotions
at its regular meeting held in De­
cember:
T hom as J.
Stecher from vice
president-opera­
tions to senior
vice president;
Daniel E. Welu
from vice presi­
dent and cashier
to senior vice
p resid en t and
T.J. STECHER
cashier; Richard
A. Bean from vice president-finance
to senior vice president and cashier;
David W. Spahn from assistant vice
president and controller to vice pres­
ident and controller; C. Michael Reil­
ly from marketing and business de­
velopment officer to vice president
marketing and business develop­
ment -non-bank services; Mark J.
Willging from trust officer and de­
partment manager to the additional

D.W. SPAHN

C.M. REILLY

status of vice president; Beverly J.
Anderson from presonnel officer to
assistant vice president-personnel
director; and Paul A. Pfohl from
instalment loan officer to assistant

I

3 1

Liabilities

$ 12,539,000
53,416,000
20,662,000
4,272,000
288,000

Banking House, Furniture and Fixtures
Other A s s e ts ....................................

2,378,000
4,190,000
$204,053,000

TO TAL

95,084,000
(976,000)

12,200,000

Capital ........................................... . . .
Surplus ..........................................
Undivided Profits .............................
Total Equity C a p ita l.......................
Other Liabilities ...............................
Interest Bearing Demand Notes
to U.S. T re a su ry...........................
Federal Funds Purchased and
Securities Sold under Agreements
to Repurchase .............................
Deposits ..........................................
...
TO TA L

$

4 ,8 0 0 ,0 0 0 ®
4,800,000
5,381,000
$14,981,000
3,096,000
•
313,000

22,513,000
163,150,000
$ 2 0 4 ,0 5 3 ,0 0 0 #

Mark J. Willging

John W. Law

Vice President—
Trust Officer and
Trust Department Manager

Chairman of the Board
John W. Law Co., Retired

Mark T. Middlebrook

John K. Lawson

Officers

Paul A. Pfohl

Linda L. Budde

Trust Officer

William G. Kruse

Real Estate O ffice rManager Real
Estate Department

General Manager, John Deere
Dubuque Works
^

Assistant Vice PresidentInstallment Loan Manager

Kenneth E. Weitz

J. Bruce Meriwether

Chairman of the Board and
Chief Executive Officer

John M. Hansen

J. Bruce Meriwether

Vice President-Investments

Sara J. Candy

President

David W. Spahn

Personal Banking Officer

Paul J. Gisch

Vice President and Controller

Mary A. Piersch

Trust Administration Officer

President

Cheryl M. Christ

Wayne A. Norman

Trust Administration Officer

Planning and Development
Officer, University of
Dubuque

Directors

C. Michael Reilly

Manager Asbury Office

Edward A. Babka

Alan L. Schuster

President, Babka
Publishing Co.

Senior Vice PresidentOperations

Vice PresidentMarketing and Business
Development, Non-Bank
Services

Richard A. Bean

L. Richard Winter

Senior Vice PresidentFinance

Vice PresidentCustomer Relations

Francis A. “ Chip”
Murray, Jr.

Daniel E. Welu

John J. Savary

Mark E. Small

Paul J. Gisch

Senior Vice President and
Cashier

Auditor

Senior Vice PresidentSpecial Lending

Senior Vice PresidentSpecial Lending

Thomas J. Stecher

 Banker, February, 1984
Northwestern
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

vice president-instalment loan man­
ager.
It was also announced that F ra #
cis A. “Chip” Murray, Jr. has joined
the bank as personal banking officer.

DECEMBER 31, 1983

Cash and Due from B a n k s..............
U.S. Government S e curities...........
Municipal B o nds...........................
U.S. Agency Bonds ......................
Federal Reserve Bank S to c k ...........
Loans, Net of Unearned Discount
($1,075,000) ...........................
Less:
Reserve for Possible Loan Losses
Federal Funds Sold and Securities
Purchased under Agreements
to Resell ..................................

D ubuque,
Iow a

F.A. MURRAY, JR.

Statement of Condition

Resources

FIRST
NATIONAL
BANK

P.A. PFOHL

Personal Banking Officer
Manager West
Dubuque Office

Personal Banking Officer

Paul L. Britt
Vice President,
General Manager
Toledo Stamping & Mfg. Co.
Dubuque Division

Thomas W. Buelow

Assistant Vice President
Manager North
Dubuque Office

Computer Operations Officer

Philip T. Kelly

Vice PresidentLoan Administration

Gladys A. Hueneke

Scott A. Tibben

Assistant Vice President

Agricultural Loan Officer

President, Communications
Properties, Inc.

Leo M. Mallie

Beverly J. Anderson

Vice PresidentAgricultural Lending

Assistant Vice PresidentPersonnel Director

John S. Nigg

Trust Department

William G. Kruse
Chairman of the Board and
Chief Executive Officer

^

Roger J. Rhomberg
President, Rhomberg Fur C #

James E. Walsh
President, Bird Chevrolet Co.

N.J. Yiannias
President, Dubuque
Theatre Corp.
President, Key City
Investment Co.

^

Honorary
Directors
Waldo Adams
Frank A. Ruckiger
Charles J. Spahn
Catherine Winall

A

63

The difference between
our health plans and theirs is
enough to make you sick.
W ith most insurance
plans, if you’re no t sick
before you get your
final medical bill, you
will be after.
{
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Northwestern Banker, February, 1984

64

Iowa News

FIRST NATIONAL BANK OF MUSCATINE
Muscatine, Iowa
STATEMENT OF CONDITION
DECEMBER 31, 1983
ASSETS
Cash and Due from B a n k s ........................................
United States Government S e c u ritie s ......................
Other B o n d s ................................................................
Federal Reserve Bank S to c k ....................................
Federal Funds S o ld ....................................................
Net L o a n s .....................................................................
Bank, Parking Lot, Office and F ix tu re s ....................
Other Assets ...............................................................
Total Assets

$

7,503,000.00
4,954,000.00
19,280,000.00
120,000.00
2,000,000.00
103,421,000.00
3,894,000.00
5,489,000.00
$146,661,000.00

LIABILITIES
Capital .........................................................................
Surplus .........................................................................
Undivided P ro fits .........................................................
Other Liabilities and Deferred T a x e s........................
Securities Sold Under Agreement to
Repurchase .............................................................
Deposits .......................................................................
Total Liabilities

2,000,000.00
2,000,000.00
8,157,000.00
4,799,000.00
1,500,000.00
128,205,000.00
$146,661,000.00

OFFICERS
C.D. OBERWORTMANN, Chairman of the Board
JO MERCER, Vice President & Secretary
GEORGE A. SHEPLEY, President and C.E.O.
JAMES V. PULLIAM, Asst. V.P.— Mgr. Mall Office
CHARLES S. BULLOCK, Executive Vice President
LEO KOSSIVES, Auditor
ROBERT A. LOTHRINGER, Sr. Vice President
JANICE METZGER, Assistant Vice President
ROBERT P. SOLHEIM, Sr. Vice Pres. & Trust Officer
JOHN MEINEKE, Loan Officer
H.W. OGILVIE, JR., Vice President
TERRY FINNEGAN, Loan Officer
LOUIS RECHTFERTIG, Vice Pres.— Instalment Loans
DIANA STICKROD, Asst. Cashier
MARGARET MATHES, Vice Pres. & Trust Officer
LINDA CREED, Asst. Cashier
JUDD W. LELAND, Vice Pres. & Farm Manager
LINDA CURRY, Adm. Asst.
L.G. SULZBERGER, Vice President & Cashier
DEBBIE EASTERLA, Mgr. Note Dept
EDWARD H. SCHROEDER, Vice President
DEBORAH SODERMAN, Mgr. Southslde office
E.S. “ KELLY” BURNS, Vice President
CAROLYN BIERMAN, Mgr. Drive-In office

Committed to
making your
bank stand
apart from the

Dunkerton Manager Retires^
Claude M. Stone, manager of the
Peoples Bank and Trust Company
D unkerton office, retired last
month. A reception honoring Mr.
Stone was held in the lobby of th 0
main bank January 17.
Mr. Stone, an army veteran of
World War II, joined Peoples Bank
as manager of its Dunkerton Office
in 1963.
#

ITS, Inc. Witnesses
Record Breaking Year
ITS, Inc. witnessed anothe^
record breaking year in electronic
funds transfer volumes with an in­
crease of 70.6% over last year’s tran­
sactions. In the state of Iowa, over
29 million EFT transactions wer^
performed in 1983, compared to
nearly 19 million in 1982.
Switched volumes for 1983 total­
led 8,089,534 compared to 4,740,773
in 1982. Approximately 25% of a]^
EFT transactions are switched by
ITS, Inc.; the remaining 75% are not
sent to ITS because they are trans­
actions performed by the financial
institution’s own customers.
£
ITS, Inc. is a data processing or­
ganization which acts as the switch
for EFT transactions in the state of
Iowa. There are currently 490 termi­
nals that are linked to the ITS, In(#
Convenient Banking network. These
terminals are located throughout
the state of Iowa as well as portions
of Illinois, Missouri, Nebraska, and
South Dakota.
#
In addition, ITS, Inc. is a member
of Nationet, a shared national net­
work with over 1700 terminals in 28
states. In October, 1982, ITS, Inc.
conducted the first live Natione#
transaction with Instant Teller of
California, exemplifying the pioneer­
ing efforts undertaken by ITS, Inc.
to expand the availability of EFT.
In addition to this being the firs£
Nationet transaction, it was also
unique in using the point-of-sale
(POS) in a Des Moines grocery store.
Nationet is the only national net­
work with POS terminals on itP
system.

Joins Kalona Bank

^

Cecil Capper has joined Farmers
Savings Bank, Kalona, as assistant
vice president.
Mr. Capper previously was with
United Central Bank & Trust Co.
Kalona for the past 11 years.
DigitizedNorthwestern
for FRASER Banker, February, 1984
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Federal Reserve Bank of St. Louis

Iowa News

Bruce Meriwether Becomes
Candidate for IBA Office
J. Bruce Meriwether, president of
the First National Bank of Dubuque,
announced his
^andidacy last
month for the of­
fice of president­
elect of the Iowa
Bankers Associa­
tion. The elec­
tion is scheduled
to be conducted
in August by
mail ballot, with j .b . MERIWETHER
©ssults announc­
ed at the 98th annual convention in
Des Moines next September. He is
the only candidate who has an­
nounced for the office at this time.
O If elected, Mr. Meriwether would
succeed to the IBA presidency at
the 1985 convention and would pre­
side at the Iowa Bankers Associa­
tion’s Centennial Convention in
0986.
Mr. Meriwether joined First Na­
tional of Dubuque immediately fol­
lowing his graduation with a B.S. in
Economics degree from the UniverOty of Dubuque in 1960. He held
various positions of responsibility in
the bank leading up to his election
as president on January 28, 1981,
iust three days after his 43rd birthfay. He also completed studies at
the Graduate School of Banking at
the University of Wisconsin, Madi­
son; the BMA School of Marketing
at Northwestern University, Evans®n, and the ABA Commercial Lend­
ing School at the University of Okla­
homa, Norman.
Mr. Meriwether has had extensive
experience in activities of the Iowa
Imd American Bankers Associa­
tions. From 1978-1981 he was chair­
man of the IBA legislative commit­
tee, one of the most critical and de­
manding jobs in the association. He
was a member of the Iowa Bankers
Mortgage Corporation in 1982-83.
Currently, he will complete his twoyear term as chairman of IBA
^roup IV in May and, in that capa­
city, his two year term on the IBA
board of directors will expire with
the September convention.
In 1981-82, Mr. Meriwether was a
f ember of the executive committee
of ABA’s Commercial Lending Divi­
sion. In 1982-83, he was a member of
the ABA Community Bank Division
advisory committee,
f In addition to his management re­

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Federal Reserve Bank of St. Louis

sponsibilities at the bank and his ex­
tensive association activities, Mr.
Meriwether also has devoted consid­
erable time to civic activities. He
was president of the Dubuque Area
Chamber of Commerce in 1975-76;
received the Chamber’s Civic Ser­
vice Award in 1980 and the Jaycees’
“Gilbert D. Chavenelle’’ Civic Ser­
vice Award in 1982, and in the cur­
rent year is chairman of the
Chamber’s Economic Development
steering committee.
Mr. Meriwether will be attending
IBA group meetings in February
and May to meet with Iowa bankers
throughout the state.

65

New President Named At
West Liberty State Bank
Robert Rehmke has resigned as
president of West Liberty State
Bank. He is succeeded by Ron Mat­
thews, who had been serving as vice
president.
Mr. Rehmke joined the bank ten
years ago from a bank in Burling­
ton. Since joining the bank, assets
have grown from $13 million to $39
million. Mr. Rehmke also headed the
construction of a new bank building
when the bank outgrew its facility
on Third Street. He turned over his
duties as president first of the year.

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Northwestern Banker, February, 1984

66

Iowa News

Major Changes Announced
At Washington State Bank
A major reorganization of the
management and board of directors
of Washington State Bank was ap­
proved last month following a signi­
ficant September stock sale.
M.M. “Mike” Orris has been
named president and Dale Torpey as
chief executive officer. Elected as
new board members were: Dean Gar­
rett, James Lloyd, Larry Marek, Bill
Perdock, Jim Wood and Mr. Torpey.

They join Mr. Orris; John Miller, an
Olds area farmer, and Edward Jarrard, a Washington area farmer, on
the new nine-member board. Mr.
Miller remains as chairman of the
bank.
Mr. Garrett is data processing
and traffic manager for McCleeryCumming Co. Inc. Mr. Lloyd is a
partner in the local law firm of Mor­
rison, Lloyd & McConnell. Mr.
Marek is a rural Riverside farmer.
Mr. Perdock is president of the Per­
dock Inc. automotive dealership.

STATEMENT OF CONDITION
at close of Business December 31, 1983
ASSETS
Cash and Due from b a n k s ..................................................
Investment securities:
U.S. Treasury s e c u ritie s ................................................
Obligations of other U.S. Government
agencies and co rp o ra tio n s........................................
Obligations of states and political s u b d iv is io n s ........
Total Investment s e c u ritie s ..................................
Loans, net of unearned in c o m e ........................................
Less valuation reserve for loan lo s s e s ........................
Total lo a n s ...............................................................
Accrued interest re ce iva b le..............................................
Bank premises and e q u ipm e n t..........................................
Other a s s e ts .........................................................................
Total a s s e ts .............................................................

$

10,163,534
56,470,269
6,016,234
20,760,260
83,246,763
75,238,834
(701,424)
74,537,419
3,290,083
2,518,303
95,242
$173,851,344

LIABILITIES and CAPITAL
Deposits:
Demand d e p o s its ............................................................
Savings d e p o s its .............................................................
Time d e p o s its ...................................................................
Total d e p o s its ........ ................................................
Securities sold under agreements to repurchase..........
Federal funds p u rc h a s e d ..................................................
Other short-term b o rro w in g s............................................
Accrued expenses and other lia b ilitie s ............................
Total lia b ilitie s ........................................................
Stockholders’ equity:
Capital s t o c k ...................................................................
Surplus .............................................................................
Retained e a rn in g s ..........................................................
Total stockholders’ e q u ity ....................................
Total liabilities and
stockholders’ e q u ity ..............................................

$ 21,320,353
61,988,948
64,147,033
147,456,334
3,422,486
5,700,000
634,218
1,881,283
159,094,321
2,800,000
4,200,000
7,757,023
14,757,023
$173,851,344

OFFICERS
Dale K. DeKoster
Chairman of the Board & President
Commercial Division

E. James O’Connor, CCL
Senior Vice President
James R. Gerber
Vice President

Deon Senchina
Consumer Loan Officer
David A. Mulnix
Consumer Loan Officer
Gary L. Dodge
Consumer Loan Officer
Agricultural Division

William D. Davidson
Vice President

Mortgage Division

Merle W. Rodgers
Senior Vice President
Robert V. Cooper
Senior Vice President

Operations Division

Gerald J. Curran
Cashier
Rick A. Thuesen
Controller
Donald N. Richards

Consumer Lending Division

Robert L. Smith
Vice President

Vice President
Betty M. Runyan
Assistant Cashier
Diane C. Kupferschmidt
Personnel Director
Anita M. Ward
Auditor
Trust Division

Frederick Koch
Senior Vice President
& Trust Officer
Dennis E. Egel
Trust Officer
James E. Thielen
Trust Officer

WATERLOO SAVINGS BAIMK

West Park at Cedar, Waterloo, Iowa 50704
Digitized Northwestern
for FRASER Banker, February, 1984
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Federal Reserve Bank of St. Louis

Mr. Wood is president of Wood Com
struction, Inc. and Mr. Torpey w af
hired in 1982 as a vice president and
will now be the bank’s manager of
operations.
Mr. Orris, State Bank vice presk
dent for several years, replaces L *
gan Heilman as president. Mr. Heil­
man retired from that post and as a
director. Other retiring directors in­
clude E.D. Morrison, Jr.; Frank K o ^
a former president of the bank, ana
Merritt McDaniel.

James Coquillette Retires •
After 36 Year Career
James E. Coquillette, chairman of
the board of The Merchants Na­
tional Bank of Cedar Rapids and £
member of the board of Banks of
Iowa, retired January 1 after 36
years of service.
Mr. Coquillette
joined Merchants
National in 1947
in the loan dis­
count cage. He
was named vice
president in 1952
and elected to
th e board in
1955.In 1964 he
was elected se- J.E. COQUILLETTE
mor vice presi•
dent in charge of the lending divi­
sion and in 1966 was elected presi­
dent and chief executive officer. He
held this position until April, 1983,
when he was named chairman. H #
election to president in 1966, came
32 years after his father, S.E. Co­
quillette, was elected president of
Merchants. His tenure as president
lasted 12 years, from 1934-1946, a r#
he served a total of 60 years at Mer­
chants National.
During James Coquillette’s ca­
reer, Merchants formed a holding
company which became what !§
presently known as Banks of Iowa,
Inc., of which he was an original
founder, director and incorporator.
Also during his career, Merchants
National celebrated its 100th b irt^
day in 1981.

SBA Appoints One
David Thieleke has been a ^
pointed loan specialist for the Des
Moines District U.S. Small Business
Administration. Prior to joining
SBA he was with Northwest B ar^
and Trust, Davenport.

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and sell high. You could manage on instinct, by
the seat of your pants. Unfortunately, deregulaw tion has sent that philosophy the way of the
tellers cage. With change constant and com ­
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m ore com plicated and crucial than ever before.
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current condition of your bank.
You can anticipate and prepare for the

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Federal Reserve Bank of St. Louis

future by testing your ideas and exploring pos­
sibilities with on-line financial modeling. You can
maximize m arketing efforts with o u r central
inform ation system that stores every piece of
custom er information.
A BICS system m eans you, and all your p e o ­
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68

Two Join Sioux City Staff

•

John (Jack) Scherrman and Mark
Sorensen have joined the staff at
First National Bank in Sioux City,
according to Richard Taylor, presi­
dent.
•

J. SCHERRMAN

D es M oines fc.
The elections of two staff mem­
bers as vice presidents, nine as assis­
tant vice presidents, and promotions
for five other were announced last
month by Herman C. Kilpper, presi­
dent of Bankers Trust Company.
In the financial division, Richard
H. McGuire was elected vice presi­
dent, investments. He joined the
bank in 1982 and most recently has
been assistant vice president. A
graduate of the University of Iowa
with a B.S. in Economics and Ac­
counting and an M. A. in Economics,
he also received his J.D. from Wil­
liam Mitchell College of Law.
Mark A. Esbeck was elected vice
president in the commercial loan ad­
ministration division. He has been
an assistant vice president and com­
mercial lending officer. He holds de­
grees from the University of Iowa of
B.A. in English and an M.A. in Fi­
nance.
The new assistant vice presidents
are: Brad L. Winterbottom, commer­
cial loan administration; Kathryn D.
Backman and Sandy K. Kuehl, com­
mercial banking development; Sarah
R. Wells, administration; Ray C.
Getting, data processing and pro­
duct development; Patricia F.
Rourke, international department;
Alan D. Chingren and Paul A. Erick­
son, operations, and Steven L. Quig­
ley, retail.
Others promoted were: Jack A.
Stuart, consumer banking officer,
and Regina R. Eischeid, assistant
managing officer, Eastgate branch,
both in retail. Margaret A. Hoogerheide, trust officer; Denise Foster,
trust investments officer, and Vicki
M. Miller, assistant trust officer.

Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Named in Mason City
James L. Garver and Steven R.
Knapp have been named assistant
vice presidents for Norwest Bank
Mason City, N.A.

J.L. GARVER

S.R. KNAPP

Mr. Garver started his banking
career in 1960 and joined Norwest
Bank in Mason City in 1982 as cor­
respondent banking officer. He will
continue his duties in that area.
Mr. Knapp started with the Ma­
son City bank in 1981 as a commer­
cial loan officer and will remain in
this area. He previously was em­
ployed as a loan counselor by Postal
Thrift Loans, Council Bluffs.

M.SORENSEN

Mr. Scherrman, formerly vice
president and treasurer of CM Cor­
poration in Sioux City, has bee#
named vice president and trust of­
ficer, heading First National’s trust
department. A CPA, Mr. Scherrman
previously served as treasurer of the
Des Moines Register and as an intei#
nal revenue service agent.
Mr. Sorensen has been named as­
sistant vice president in the com­
mercial area with responsibility for
agricultural lending. Before comin®
to First National, he was an agricul­
tural representative for First Na­
tional Bank of Omaha and a loan of­
ficer for the PCA in Sioux City. _

Promoted in Ames
Union Story Trust & Savings
Bank, Ames, recently announced
following promotions; Gary Ellis,
vice president-loan officer; Thea Oppedal, vice president and personnel
officer; Sandra J. Winters, vice pres­
ident and trust officer; Jerry Obem
assistant vice president, operations;
Joann Shelton, assistant vice presi­
dent and branch manager at the
North Grand Office, and Mark Veglahn, loan officer.
•

Elected in Harlan
Clifford H. Hanson has been
elected to the board of Harlan Na­
tional Bank. He retired at the end of
1983 after 42 years of service as sen­
ior vice president and cashier. Peggy
Hess has been elected as cashier, re­
placing Mr. Hanson. She has 18
years with the bank and formerly
was an assistant vice president.
Also at the bank, M att McHugh
was named ag loan officer and
Noreen Shannon, Ellen Linden and
Carol Brus were elected assistant
cashiers.

Promoted in Lake City
John T. Patrick, president of th ^
Lake City State Bank, recently an­
nounced the promotion of Michael
F. Newland to senior vice president
and cashier in charge of all lending
functions; Frances K. Nutter to a ^
sistant vice president responsible
for consumer lending; Lois Smith to
assistant vice president in charge of
bank operations, and Randall Hassman to assistant cashier, lending
and operations.

69

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Northwestern Banker, February, 1984

70

Gene Youell Sells Control
Of Spirit Lake Bank
E.W. Youell, Jr., and his wife,
Jane Youell, have sold their controll­
ing interest in the State Bank of
Spirit Lake to C.W. Wetzeler and his
family. Mr. Wetzeler will continue
as president of the bank, which has
assets of $16,900,000.
Mr. and Mrs. Youell have resigned
from State Bank as vice president
and chairman, respectively.
Mr. Youell joined the bank in
1949 as executive vice president
when it was located in Terrill. He
purchased control of the bank in
1955 and moved the charter to
Spirit Lake in 1965, retaining the
bank office in Terrill.
Mr. and Mrs. Youell continue to
own the Manson State Bank, which
they purchased in 1963. Mrs. Youell
also is chairman of that bank and
Mr. Youell is vice president. R.L.
Loerch is president and managing
officer at Manson.
Mr. Youell plans to continue
managing his real estate and other
business interests.

Correctionville Acquisition
Mike Keim, president of Corn
Belt Bancorporation, has announced
that the newly formed holding com-

pany has received permission from
the Federal Reserve Bank of Chica­
go to acquire 80% or more of the is­
sued and outstanding common stock
of the Corn Belt State Bank located
in Correctionville. Additionally,
Corn Belt Bancorporation has re­
ceived permission to engage in in­
surance activities.
Mr. Keim emphasized that there
would be no staff or officer changes,
and that the bank would remain a lo­
cal institution serving Correction­
ville and the surrounding area.

Adel Promotions Announced
At Brenton Bank and Trust Com­
pany, Adel, Darrell Bauman and
Jeff Horn have been promoted to
vice president; Rick Caudle and Ronda Paullin have been promoted to as­
sistant vice president; Carolyn Scott
has been named trust officer and as­
sistant vice president; Jan Garrett
was promoted to assistant cashier,
and Becky Massure has been pro­
moted to assistant manager of the
bookkeeping department.
Mr. Bauman joined the bank in
1978 and has responsibilities in marketing/public relations, trust administration/development and real
estate sales. Mr. Horn has managed
the Redfield Office of the bank since
October, 1980. Mr. Caudle joined

the Dexter Office following his gracL
uation from Iowa State University
in 1981. Ms. Paullin joined the bank
in 1978 and is presently responsible
for coordination of operations and
systems development. Ms. Scot^
joined in 1966 and has worked in
various areas of the bank. Ms. Gar­
re tt’s major responsibility is manag­
ing the bookkeeping department.
Ms. Massure joined in 1981 as ^
drive-up teller.

1984 Washington, D.C. Trip
Scheduled for April 7-11
The 1984 IBA Washington, D.cP
Trip has been scheduled for April
7-11, presenting an opportunity for
Iowa bankers to meet with federal
regulators and top officials at the
Federal Reserve, Treasury and othe®
regulatory dignitaries.
Rooms have been reserved at the
Vista International Hotel in Wash­
ington. Since space is limited, yom
are urged to make your plans now.
For more information contact
Sharyn Baudler, (515) 286-4346 or
1-800-532-1423 at the IBA office.

v

Index of
A dvertisers
FEBRUARY, 1984

ON THE COVER. . .
(Continued from page 4)
trade associations, government
agencies, educational and extension
facilities, and support services in­
cluding a media center designed to
keep world markets informed about
Iowa products, services and technol­
ogyPresent plans also call for a hotel
to occupy 10 floors of the tower.
There are 33 World Trade Centers
worldwide, Mr. Ruan commented,
but none specializing in agricultural
products as Iowa’s would. And all
eight U.S. Trade Centers are located
in coastal cities. The Iowa World
Trade Center would be the first in
the heartland, he said, providing a
number of unique benefits.
Among these, Mr. Ruan cited the
Trade Center’s location in Iowa’s
capital city at the seat of state
government, in the center of a lead­
ing agricultural and research area,
and within minutes of Iowa State
University and other educational in­
stitutions.

Northwestern Banker, February, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

In addition, Mr. Ruan pointed out
Des Moines’ excellent access to
transportation routes, by land, air
and—via Missouri and Mississippi
Rivers to the Gulf—by water.
“Moving products and people
from here is no problem,’’ he said.
Both Gov. Branstad and Mr.
Ruan stressed the “ all-Iowa’’
aspects of the proposed World Trade
Center.
“ I ’m pleased at the initiative
taken by the private sector in get­
ting this project to its present
stage,’’ the Governor remarked.
“Now, the state, and possibly the
federal government, must assume
its role in helping to make the Iowa
Wolrd Trade Center a reality.
“This project will require the full
support of the legislature, our busi­
ness and educational communities,
trade associations and the people of
Iowa,” Gov. Branstad concluded.
“Building a World Trade Center will
take a major financial commitment,
but we simply have to do it if we’re
go maintain our share of increasing­
ly tight world markets.”

American National Bank & Trust, St. Paul.
American Trust & Savings Bank, Dubuque
Banclease, Inc., Omaha ..........................
Bank Building Corporation......................
Bank of North D akota.............................
Bankers Trust Company, Des Moines
Banks of Iowa Computer Services, Inc. . ..
Brandt, Inc................................................

. . .33
. . .59
. . .47
. . .71
. . .67
. . . .5

Cardpro Services, Inc................................

. . .24

Daktronics, Inc..........................................
Dawson Hail Insurance Company...........
Downey, C.L. Company............................
Drovers Bank of Chicago........................

. . . .6
. . .19

Voi

Farmers & Merchants B&T, Burlington...........................58
F & M Marquette National Bank, Minneapolis........... 30-31
First National Bank, Dubuque ........................................62
First National Bank, Lincoln........................................... 55
First Bank, Minneapolis................................................. 8-9
First National Bank Muscatine........................................64
First National Bank, Omaha........................................... ^
First Bank St. Paul .....................................................40-41
Gross, Kirk Company, Waterloo..................................... 61
HBE Bank Facilities........................................................16
Information Technology, Inc............................................13
Iowa Bankers Insurance & Services, Inc.......................... 63
Kooker, E. F. & Associates...............................................^
Lincoln Benefit Life Company........................................54
Merchants National Bank, Cedar Rapids.................... 2-3
National Bank of Commerce, Lincoln
. . .48
National City Bank, Minneapolis
. . .35
Norwest Banks, Bond Dept...............
. . .28
Norwest Card Services....................
. . .64
Office Concepts Ltd., W aterloo.......
36-37
Omaha National Bank ....................
Packers National Bank, Omaha.......

. . .53

Statesman Investment Advisors . . . .

. . .65

Travelers Express Company............................................. 7
United Central Bank, N.A., Des Moines.......................... ^
Waterloo Savings Bank...................................................66

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