Full text of The Northwestern Banker : February 1985, 92nd Year, No. 1457

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L o a n Q u a lit y — K e y t o 1 9 8 5 M o r tg a g e L e n d in g
• Lobby Manager Transfers Paperwork to Micro
• BMA Offers Financial Marketing Software Series
• Efficient Processing Key to Satisfied Commercial Customers
• IBAA Will Meet March 6-10 in San Antonio, Tex.

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

Meet Dick Retz,
MNB Correspondent Banker.

Meet Dick Retz,
farmer.

As an MNB Correspondent Banker, Dick brings over 13 years' experience
in agricultural finance counseling, ag lending and farm management to
his work.
As a farmer he understands, first hand, what your agricultural
customers are up against and the kind of financing they need to achieve
theiir goals.
MNB and its respondent banks are located in some of the country's
most productive farmland. And because agriculture plays such a vital role
in the economy, we've developed a special commitment toward
agricultural financing.
So when you have farm customers w ho need to restructure short
term debt into long term, need cash-flow financing, machinery loans or
cash to purchase additional land, talk to someone w ho knows about
banking and finance. Call Dick Retz at MNB. Dial 319/398-4320 or tollfree, 1-800-332-5991.

Merchants National Bank HI
C edar Rapids, Iowa 52401

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Federal Reserve Bank of St. Louis

Member F.D.I.C.

A BANKS OF IOWA’ BANK

FIRST.
THE GOOD NEW S

.Tw o F irsts m ake
a force in correspondent banking.

First Bank Minneapolis and First Bank Saint
Paul Correspondent Banking Departments have joined
forces to become First Bank Correspondent Banking.
We combined all the resources of two of the largest
® correspondent banks in the region to create the newest,
biggest and most customer-driven correspondent
in the Upper Midwest.
What does that mean to you? It means you
^ can draw on the largest credit resources of any corres
pondent in the Upper Midwest. It means you can build
a solid banking relationship with the largest staff of
professional calling
officers in the area. And it
means you can rely on
the resources of our
banking officers to solve
your specialized, multi
bank, agricultural and
non-credit needs.
We reorganized to
fit the changing banking
world. You still need
regular contact with our
calling officers for bank
stock financing, standard
overlines and other credit
services, so we left that side of our organization
unchanged. But, you also needed more and more advice
about the rapidly changing world of deregulated
banking. And so we’re giving it to you.
We created three new specialty divisions within

our expanded correspondent department: A MultiBank Ownership Division, a Non-Credit Products
Division and an Agriculture Production Credits Division.
All of our specialty banking officers are experts in their
own area and in correspondent banking. And that
means that they, too, can operate directly with you on a
regular basis, when you need them.
Also, First Bank Correspondent Banking officers
have instant access to all of the resources and expertise
of First Bank Minneapolis and First Bank Saint Paul.
So you can get the expert banking advice you need
whether it’s in inter
national banking, consult
ing services, security
sales and safekeeping, SBA
loans, leasing, and much
more. We even have an
entire division that
specializes in financial
services for the new highgrowth, high-technology
and service industries.
So, when you need
correspondent banking
services, talk to us. At
First Bank Correspondent
Banking you don’t have to go around in circles to
get to the experts. We have the credit you need and the
technical advice you have to have to stay profitable
in today’s ever changing world of banking.
At First, good news is all you get.

First Bank

C orrespondent
First Bank Minneapolis
First Bank Place
Minneapolis, MN 55480
(612)370-5474

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Federal Reserve Bank of St. Louis

First Bank Saint Paul
332 Minnesota Street
St. Paul, MN 55101
(612)291-5585

Members FDIC

Daktronics Starburst
Is New Year’s Eve Hit

NOM W ESTERN
'O O M K S V
FEBRUARY 1985 • 92nd Year • No. 1457
MEMBER OF AUDIT BUREAU OF CIRCULATION
MEMBER BANK MARKETING ASSOCIATION
OLDEST FINANCIAL JOURNAL SERVING THE CENTRAL AND WESTERN STATES

ON THE COVER

Daktronics embarked on a new
era this New Year’s Eve with the
debut of a huge Daktronics Star #
burstTM four-color animation cen
ter for Caesars Palace in Las Vegas,
Nev.
The countdown began at 11:00
p.m. with flashing messages and a n i#
mated cartoons to the amusement of
the gathering crowd. At midnight,
the StarburstTM display erupted
into a maze of color with New Years
Greetings from Caesars Palace,#
Young Electronic Sign Company
and Daktronics, Inc.

Home ownership continues to be the American dream, but certainly a more diffi
cult one to achieve for many younger families today. Two special articles in this
issue look at the prospects for home building today and the financing of their pur
chase. Cover photo courtesy Mortgage Guaranty Insurance Corporation, Milwau
kee.

FEATURES

Loan quality

Leon Kendall says it’s key to ’85 mortgage lending

1985 housing activity

Robert L. Waldo sees the market down slightly, but stable

The Lobby Manager

New software program transfers paperwork to the micro

Financial marketing software

BMA introduces micro help designed for and by marketers

IBAA meets March 6-10

Historic San Antonio is site for 55th annual convention

Convention calendar

Schedule of meetings for state associations

DEPARTMENTS
10
13
21
22
29
32

Bank Promotions
Corporate News
Minnesota
Twin Cities
Illinois
Wisconsin

36
38
41
42
43
45

46
50
55
60
65

South Dakota
North Dakota
Montana
Colorado
Wyoming
Nebraska

Omaha
Lincoln
Iowa
Des Moines
Index of Advertisers

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

Phone (515) 244-8163

Publisher & Editor Associate Publisher Associate Editor
Ben Haller, Jr.

Steve Burch

Becky McBurney

Consultant
Malcolm K. Freeland

No. 1457 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. POSTMASTER: Send
all address changes to Northwestern Banker, 306 Fifteenth Street, Des Moines Iowa
50309.
DigitizedNorthwestern
for FRASERBanker, February, 1985
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

The StarburstTM animation cen
ter designed and manufactured b #
Daktronics, Inc. of Brookings, S.D.,
is one of the largest 4-color anima
tion displays in the world. The
display consists of two sides, each
utilizing a matrix of lamps 64 high b #
128 wide for a total of 16,384 lamps.
The lamps are arranged in a quad
pattern of red, blue, green and white,
and, when combined, blend into 15
different shades of color.
#
The display is controlled by the
Venus 5000 ColorTM controller
which utilizes an IBM personal com
puter as well as other electronic cir
cuitry and software designed b #
Daktronics. The Venus 5000 design
is state-of-the-art in the animation
display technology with other units
recently installed in Taipei, Taiwan
and New South Wales, Australia. •
Young Electric Sign Company
(YESCO) of Las Vegas arranged the
purchase and the installation of the
Caesars Palace display system,
which towers 88 feet over The Stri]#
in Las Vegas.

BankDisk
Agricultural Credit Analysis
Software for Banks
With over 800 BankDisk Agricultural Credit Analysis
users nationwide, the software has become a valuable
decision aid with proven performance. The package’s
flexibility, what-if capability and easy operation result in
increased productivity and increased profits for
your bank.

$ ■! li 7 $ I I ¡:! U

£ J? li

& a û ¡1 k : à 8 k Ë a

7 //
The complete Agricultural Credit Analysis package in
cludes a 12-month cash flow with a profit and loss
statement, a five-year financial statement spreading
program with a feature for credit scoring, and a fiveyear cash flow projection program. You can easily and
accurately forecast cash position, organize and score
financial statement information and measure the on
going viability of an operation against a long-term plan.
Credit losses can be prevented through your improved
ability to more closely monitor your ag portfolio and
more accurately evaluate credit worthiness.

i
s

I
7* it

’

Agricultural Credit Analysis is part of a proven line of microcomputer products for
banks. The growing series of BankDisk software also includes the Loan Document
Processor, Safe Deposit Box Accounting, Fixed Asset Accounting, Board Reporting,
Interest Spread Analysis, IRA Proposal and Disclosure, Asset and Liability Management,
Commercial Credit Analysis, and Client Profitability Analysis with new innovative products
on the way.

The Bottom Line
BankDisk is fast becoming the standard for
comparison in financial software. We’re running
on Apple,® IBM,® Burroughs,® and NCR® micro
computers with professional installation, service and
on-going support always as close as your telephone.
Call today for the representative in your area.

BankDisk
A product of FSI
Post Office Box 2012
Kearney, Nebraska 68847
Phone: 308-237-5995
Copyright © Financial Systems, Inc. 1984. BankDisk is a trademark of
Financial Systems, Inc. Apple is a trademark of Apple Computer, Inc.
IBM is a trademark of International Business Machines Corporation.
Burroughs is a trademark of Burroughs Corporation. NCR is a
trademark of NCR Corporation.

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Federal Reserve Bank of St. Louis

With Micro to Mainframe Link—

Community Banker Makes the Decisions,
Investment Firm Manages Portfolio
INANCIAL Institutions Invest
F
ment Services, Inc., a registered
investment advisor, has announced
a new service designed to help the
nation’s smaller banks compete with
major financial institutions in to
day’s deregulated environment. Fo
cusing on balance-sheet planning,
the service is directed specifically
toward meeting the smaller bank’s
funding needs and aggregating
many of its investment portfolio ac
tivities with those of other client
banks so as to achieve economies of
scale impossible individually.
Located in Merriam, Kans., FIIS
is a joint venture of Kemper Finan
cial Services, Inc., the large Chicago
asset-management firm, and five
Kansas City-area businessmen.
According to Robert C. Colvin,
president and chief executive officer
of FIIS, who made the announce
ment, the service is customized to
support all aspects of the communi
ty bank’s investment needs. In addi
tion to asset-and-liability planning,

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Federal Reserve Bank of St. Louis

investment planning, portfolio an
alysis, and portfolio accounting and
record keeping, the service includes
timely financial, market and eco
nomic information, execution ser
vices, cash management and custo
dial services.
Mr. Colvin explained that the
heart of the service is an investment
plan that meets balance-sheet prob
lems head on. He said, “Drawn when
our service is first installed, and up
dated monthly, the plan reviews the
bottom-line effects of various loan,
deposit and investment mixes under
differing interest-rate assumptions.
Considering the cash needs and tax
situation of the bank, the plan will
identify the best strategy to max
imize earnings and reduce interestrate risk within the balance sheet.
“Our service is important, there
fore, to banks because it lets them
concentrate on what they do best serving their customers - and leaves
the time-consuming complexities of
asset and liability planning, invest

ment plannning, portfolio m anage#
ment, execution and documentation
to us.”
Mr. Colvin stressed that the final
decision on all matters related to the
FIIS service is left to the bank. He#
said, “We work for the bank. We do
the legwork. We report regularly.
We are a resource the community
bank can use in evaluating alterna
tives. We become, in effect, a com #
plete investment department of the
bank.”
Mr. Colvin said the entire pro
gram was successfully field-tested in
a six-month pilot program w itl#
these banks—Union National Bank
in Manhattan, Kan.; First National
Bank in Mountain Home, Ark., and
Hayesville Savings Bank in Hayesville, la.
®
All FIIS services are provided for
an annual fee, paid quarterly, based
on the client bank’s investment as
sets at the beginning of each con
tract year.
•
Colvin added that the full array of
FIIS services, which provide all the
benefits of a professionally staffed
in-house investment department, i ^
far too costly to be borne by com®
munity banks individually.
Jeffrey L. Noyes, executive vice

•president and chief operations of
ficer of FI IS, said his firm has
developed a state-of-the-art com
munications system that has turned
the FI IS concept into a practical
•reality . Mr. Noyes said the system
consists of microcomputer pro
grams, a data transmission network
and mainframe computer systems
that enable client banks to commu•n ic a te directly with F IIS ’s Merriam
headquarters for order entries, port
folio market information and all
other aspects of the service. It also
enables client banks to communi®cate with each other, and FI IS to
transmit information to particular
customers, or to all customers, as re
quired. In turn, the system allows
any client investment department to
®expand its current capabilities to in
clude the extensive resources avail
able from FUS. Importantly, since
all information must pass through
_ the system, everything concerning
^client activity is captured to provide
an audit trail and documentation for
client review.
Included are these services: Inq vestment planning, portfolio analyw sis; portfolio accounting and record
keeping; financial, market and eco
nomic information; execution ser

vices; cash management, and custo
dial services.
Mr. Colvin explained that FI IS
was formed on March 14, 1984, by
five Kansas City-area businessmen,
who hold 50% of the stock, and by
KFS, which holds the other 50%.
The five partners have broad experi
ence in banking, accounting, opera
tions and electronic communica
tions. Mr. Colvin noted that the five
formed a partnership in September
of 1983 to provide a FUS-type ser
vice. When they found the demand
for their services greater than their
resources, he said, they joined forces
with KFS.
Mr. Colvin himself is an executive
with investment, banking and ac
counting experience. He is respon
sible for the development of an asset
and liability program, trademarked
“A/L Monitor,” now used in more
than 250 banks nationwide.
□

BMA Schedules Two Major
Conferences March 3-6
Bank Marketing Association has
scheduled two important confer
ences March 3-6. One is the annual
Corporate Marketing Management
Conference in Orlando, Fla., and the

7
other is the 1985 Electronic Banking
Product Strategies Conference in
New Orleans.
The three-day Corporate Market
ing Conference will examine the ef
fects of regionalization on bank
sales performance, as well as take a
look at middle market business
development, incentive compensa
tion, and new product development.
Keynoter will be South Dakota Gov.
William J. Janklow on “The Chal
lenge of Change.” Other general ses
sions and a series of workshops com
plete the program.
The Electronic Banking Con
ference in New Orleans will have
“Moving Technology to The Mar
ket” as its theme at the Fairmont
Hotel, helping bank marketers put
together a strategic game plan that
integrates the pricing, delivery,
packaging and promotion of all elec
tronic services. Keynoter will be
Robert I. Lipp, president of Chemi
cal Bank, New York, which has
already pulled together its market
ing strategies for various corporate
and retail electronic services. Addi
tional experienced general session
speakers, three panels, exchange
groups and an extensive electronic
exhibit show complete the program.

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

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 Kathy. And John. And Max.
Call toll-free 1-800-621-8991.
In Illinois, 1-800-572-2498.

Drovers Bank

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Federal Reserve Bank of St. Louis

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

residents have been honored b y ^
Daktronics, Inc. Brookings, S.D., by
being presented the annual Daktro
nics’ Booster Award Citations. The
every P l a n n e r . These can be utilized awards were given recently at the
if the farmer’s own information is annual Daktronics Awards Dinner^
lacking, and also offer a basis for and Party.
comparison.
The two recipients are John Bib2. Time-Saving. Manual cash flow by of Brookings and David Gilkerprojections can take a full day or son of rural Brookings. The annual
more, but with Homestead’s simple awards were presented by Dr. Ael-#
input sheet, Mr. Burmeister notes, red Kurtenbach, president of Dak
“a banker can enter the information tronics, for outstanding contribu
and produce the projected reports tions to the local manufacturing
much more quickly—frequently in company.
Mr. Bibby, a longtime Brookings#
less than an hour. And, instead of a
single cash flow for the entire farm, businessman, banker and state sena
T he P la n n er also produces a cash tor, was honored for his contribu
flow for each enterprise, projected tions to the growth and success of
income statements, balance sheets, Daktronics. Mr. Gilkerson, a wellstatement of changes in financial po known Brookings County farmer,#
sition, and key financial ratios. If was honored for his continued sup
conditions change, altering a num port and cooperation with Daktro
ber once updates values throughout nics in the years of the company’s
formation and growth.
the system.”
In 1979, Homestead began mar
keting its now well-known Home Liquidation Report Helps
stead Farm Management System,
the company’s first product. It gives Banks Sell Collateral
Bankers Liquidation Report was
an individual farmer all tools neces
sary to manage his farm efficiently announced recently as a new tool to<
from both a financial and operating aid bankers in the commercial loan
perspective. Major agribusinesses workout area. The Liquidation Re
firms now have purchased the right port is published by James R. Klosto market this system under their ter, president of Bankers Liquida
tion Report, Inc., of Eden Prairie/
own label.
Homestead also has developed an Minn.
Mr. Kloster says loan officers
expertise in large turnkey projects
for agribusiness. In 1980 the com faced with disposing of business calpany designed and implemented the lateral may now list for sale such
information handling system for the assets with the Bankers Liquidation
Winnipeg Commodity Exchange. Report. The readers who receive the
Two years later a microcomputer- monthly newsletter, he states, are a
driven trading system was installed diverse group of businessmen and
in the London International Finan entrepreneurs. “ This represents
cial Futures Exchange. Homestead buying prospects otherwise hard to
also recently set-up an electronic identify and reach,” Mr. Kloster
marketing system for slaughter cat notes in describing he effectiveness
of the newsletter, “the Report is es
tle in Ontario, Canada.
With the introduction of T he pecially viable for liq u id atin g ^
P l a n n e r , Homestead is bringing its unique, specialized inventories,
technological expertise to agrifi work in process, equipment or com
nance specialists. It was written for plete business assets,” he states,
use on IBM microcomputers and op “because of the broad, national
^
erates on most MS-DOS based com reader base.”
An optional service to the bank is
puters. It is available for immediate
ly delivery. Homestead Manage the telephone reader inquiry system,
ment Systems is located at 2024 which provides the bank with daily
N.W. 92nd Court, Suite 1, Des reports of interested buying pro
spects, while shielding the bank^
Moines, la. 50322.
from unnecessary publicity and in
convenience.
More information may be ob
Daktronics Honors Two
tained from Mr. Kloster at 6440 Fly
With Booster Awards
ing Cloud Drive in Eden Prairie^
Two longtime Brookings County Minn. 55344 (612 829-0213).

Homestead Management Now Marketing
Its New Farm Financial Planner
NEW microcomputer software
A
program for agricultural credit
analysis and farm financial planning
has been released by Homestead
Management Systems, Inc., Des
Moines. The new software program
titled H om estead F arm F inancia l
P lanner is “the most advanced agloan analysis tool available,” accord
ing to Homestead President Glenn
Burmeister.
Homestead, which has a solid
track record since 1979 in the devel
opment of microcomputer ag soft
ware, has written T he P lanner pro
gram, Mr. Burmeister says, “as a
direct response to the large loan
losses being experienced by farm
lenders due to the poor agricultural
economy.” With the new program,
he says, ag-lenders “can quickly and
confidently project a farmer’s abili
ty to generate income and service
debt.” The program includes the
ability to update the analysis at any
time by the press of a button.
Mr. Burmeister attributes T he
P l a n n e r ’s uniqueness to the busi
ness-like approach taken by Home
stead’s programmers to generating
financial projections. Homestead
worked with ag lenders nationwide
and identified their two major con
cerns as inadequate information and
lack of time for analysis. T he P lan
ner then was created to address
those concerns in two ways:
1. Information. The farmer is
asked to supply basic operating
numbers (e.g., “ How many acres of
corn are you going to plant?”) in
stead of a summary type of question
(e.g., “What is your expected net in
come from crops over the year?”).
T he P l a n n e r ’s simulation of the
farm operation then calculates the
financial impact of those operating
plans. This offers significant bene
fits to the ag lender, Mr. Burmeister
states. He gets better information
for T he P lanner speaks the farm
er’s language and he can be more
confident of results because he
knows what operating assumptions
went into creation of the projected
financial statements. Since tradi
tional lack of good records by the
farmer can turn loan analysis into
guesswork, Homestead has compen
sated for poor recordkeeping by in
cluding built-in data tables with
average price/cost information into
Northwestern Banker, February, 1985

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Federal Reserve Bank of St. Louis

Still Doing it the Old Way?
f Vfa vm

", . 1 ;

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bank's services, those services'
eligibility requirements, documen
tation requirements and the proper authorization procedures.
All your forms including loan
contracts, disclosures, certificates
and notices can be printed on
The Lobby Manager. The system's
special data dictionary easily al
lows printing any forms unique

to your bank.

The Lobby Manager can com
plete loan calculations, compile
m anagem ent reports and com
m unicate in a local area network.
You'll have access to the Dow
Jones News Service, the Source,
CompuServe and other bulletins.
In fact, you will be registered
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nation's largest electronic mail
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With The Lobby Manager your
com puter will be easy to use. No
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All functions are w ithin sight on
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You w on't w ant to hide The
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tomers. They will be impressed
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design and efficiency.

The Lobby Manager was cre
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nologies, Inc., a company dedi
cated to providing cost-effective
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ity to the banking community.
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ADVANCED RESOURCE TECHNOLOGIES, INC.
First and Washington
Council Bluffs, Iowa 51501

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Federal Reserve Bank of St. Louis

Northwestern Banker, February, 1985

Bank Promotions

manager of international auditing, #
He joined Continental in 1970 and
was elected a vice president in 1979.

First Interstate Bancorp, Los
Angeles, Calif: A major realignment {
ROMOTIONS and other changes turers & Traders Trust Company of of senior management in the system
and a substantial restructuring of its
have been announced by the fol Buffalo, N.Y.
largest subsidiary, First Interstate
lowing banks:
Centerre Bank N.A., St. Louis: Bank of California, was announced
American National Bank, Chicago: Directors of the bank and Centerre by Joseph J. Pinola, chairman and I
Six men have been promoted to vice Trust Company have elected the fol chief executive officer.
president: Scott M. Baranski, head lowing:
In the realignment of senior man
John Peters MacCarthy to presi agement, Edward M. Carson, 54,
of international banking since last
July; Craig B. Collinson, asset based dent and CEO of the bank and vice chairman and chief executive officer
lending division; Guy W. Eisenhuth, chairman of the Trust Company.
of First Interstate Bank of Arizona, <
William G. Tull to vice chairman moves to Los Angeles to become
a commercial division head; Donald
E. Harris, service group manager; and chief operating officer of Cen president of First Interstate Ban
Joseph T. Keating, chief economist, terre Bank.
corp. He succeeds George R. RothJohn H. Biggs to president and ell, 54, who was named vice-chair
and Brune J. Marczyk, service
CEO of Centerre Trust.
group manager.
man of the board with responsibility <
for subsidiary banks in the Rocky
Continental
Illinois
Corporation,
Boatmen’s Bancshares, Inc., St.
Louis: Andrew B. Craig, III, has Chicago: Karl T. Barthelmess, Jr., Mountain states.
At the California affiliate, the re
been elected president and a direc has been appointed senior vice presi
tor, succeeding Ethan A.H. Shepley, dent and auditor to succeed William structuring will take the form of seg
Jr., who was named vice chairman. D. Plechaty. The latter resigned to regating the two traditional lines of*
Mr. Shepley also is chairman of The join Southeast Banking Corporation bank business — retail and whole
sale — into two separate entities.
in Miami.
Boatmen’s National Bank.
First Interstate Bank of Califor
Mr. Barthelmess, 44, has served
Mr. Craig, 53, has been president
of BancOhio National Bank in Col as deputy auditor responsible for all nia will focus on expanding and de
umbus since August, 1983, having internal auditing since 1983, follow veloping the California retail and*
formerly been president of Manufac- ing an eight-year assignment as corporate middle markets. William
E.B. Siart, 38, chairman and chief
executive officer of First Interstate
Bank of Nevada, Reno, will become
president and chief executive officer
of First Interstate of California, the
ARE YOU CULTIVATING A
state’s fifth largest bank with head
quarters in Los Angeles. John King,
51, who currently serves as presiCROP OF NON-PERFORMING
dent, becomes chairman of the
board.
AG LOANS??
A new bank, First Interstate
Bank, Ltd., is being created to pro
vide a broad range of wholesale-cor- £
porate banking, merchant banking,
and financial advisory services.
Call (5 1 5 ) 2 2 5 -0 0 8 5 COLLECT To Learn About
Bruce G. Willison, 36, currently ex
ecutive vice president in charge of
the World Banking Group at First #
Interstate of California, becomes
president and chief executive officer
of First Interstate Bank, Ltd. Nor
man Barker, Jr., 63, now serving as
chairman and who has been chief ex- #
ecutive of First Interstate of Cali
Revolutionary Software for Farm Credit Analysis and Planning
fornia since 1971, will be chairman
of the new bank. He will continue as
vice-chairman of First Interstate
Bancorp and a director of First In -#
terstate Bank of California until his
retirement at year-end.
Homestead Management Systems, Inc.
In Nevada, Gary W. Fiedler, 40,
now executive vice president in
charge of the branch bank system #
for First Interstate of California,

THE PLANNER

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Federal Reserve Bank of St. Louis

will become president and chief ex
ecutive officer of First Interstate of
Nevada, succeeding Mr. Siart. H.N.
Gallues, 61, executive vice presi
dent, will be chairman of the board.
1 In Arizona, Robert H. Duckworth,
52, executive vice president, has
been named chairman and chief ex
ecutive officer, and Harry D. John
ston, 62, executive vice president,
will become president of First Inter
state of Arizona. Both titles were
held by Mr. Carson.
First National Bank of St. Joseph,
' Mo.: Ramey E. Beachley has joined
the staff as se
nior vice presi
dent and will
manage the cor
respondent bank
ing and agricul
tural lending de
partm ent. Mr.
Beachly most re
cently served as
senior vice presiR. BEACHLY
dent/loan admin
istration, at the Security National
Bank, Kansas City, Kan., where he
had been employed since 1973. Prior
to 1973, he served as executive vice
president, Otoe County National
Bank, Nebraska City, Nebr., vice
president and branch manager, Se
curity Pacific National Bank, Brawley, California; assistant vice presi
dent, Colorado National Bank, Den
ver, Colorado, and he also served on
the staff of the Chemical Bank, New
York City, New York.
Mr. Beachly was born in Lincoln,
Nebr. He holds several degrees from
the University of Nebraska, includ
ing a Juris Doctorate Degree.
LaSalle National Bank, Chicago:
Edward G. Plummer, Jr., has been
promoted to senior vice president
^ responsible for financial planning
and control. Formerly with Mary
land National Bank, he joined La
Salle National in 1981 as vice presi
dent and comptroller. He holds a BS
^ degree from the University of Balti
more and an MBA from the Univer
sity of Chicago.
Michael P. Mikesic has been pro
moted to vice president of trust ser^ vices in the domestic financial ser
vices group. He joined LaSalle’s
trust division in 1977. He holds BS
and MBA degrees from the Univer
sity of Toledo.
Northern Trust Corporation, Chi
cago: Edward Bryon Smith has in

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

formed the board of directors of his
desire not to stand for reelection as a
director of Northern Trust Corpora
tion and The Northern Trust Com
pany at the annual meeting on April
16, 1985. It is the corporation’s in
tention to propose that Mr. Smith,
who is age 75, be elected an hono
rary director at the 1985 annual
meeting; he will continue as hono
rary chairman of the corporation.
Mr. Smith, who joined the bank in
1932, became president of The
Northern Trust Company in 1957
and chairman of the board and chief
executive officer in 1963. He also
served as chairman and chief ex
ecutive officer of Northern Trust
Corporation from its inception in
1971 until March, 1979, when he
became chairman of the executive
committee. In January, 1981, he
became honorary chairman of the
board of the corporation.
As the former chairman of the
bank, Mr. Smith was the third gen
eration of his family to head The
Northern Trust Company, and the
fourth generation to serve as chief
executive officer of a major Chicago
bank. His father, the late Solomon
A. Smith, was successively presi
dent and chairman of The Northern

Trust Company. His grandfather,
Bryon L. Smith, founded the bank in
1889 and served as its first presi
dent. His great-grandfather, Solo
mon A. Smith, in 1857 was one of
the founders of the Merchants’ Sav
ings, Loan and Trust Company, the
original bank out of which the Con
tinental Illinois National Bank and
Trust Company has grown.
United Missouri Bank of Kansas
City, N.A.: Byron G. Thompson has
announced that he will retire March
1 as head of the investment banking
division of the bank. He will then as
sume a consulting position with the
company. Mr. Thompson also will
continue as a director of United Mis
souri Bank and its holding company,
United Missouri Bancshares, Inc.
Mr. Thompson’s career with the
bank spans more than 30 years.
After his retirement, the follow
ing appointments will be effective
within the investment division:
Lawrence E. Russell will become
executive vice president and man
ager of the investment banking divi
sion. He has been with the bank
since 1973.
Kirk W. Vaughan also has been
elected executive vice president and

National Acceptance Company
of America
a Heller International com pany
is pleased to announce
the following appointments
in its St. Louis, Missouri office:

Michael A. Parker
Manager, New Business Development
and

Michael S. Stem
Manager, Credit and Operations
Leclede Gas Building
720 Olive Street
St. Louis, MO 63101
(314) 241-4100

iSl

Chicago • Cincinnati • Cleveland
Detroit • Kansas City • Milwaukee • St. Louis

)

Northwestern Banker, February, 1985

will continue to supervise new busi
ness development and customer ser
vice. He also joined the bank in
1973.
Harold R. Hollister will be assis
ting Mr. Russell in administration
and will be working closely with the
bank’s portfolio and with affiliate
banks.
Three newly-elected vice presi
dents at United Missouri Bank of
Kansas City are Maria C. King,
Michael Porter and Geoffrey Lind.
Ms. King joined the bank in 1970
and is in the corporate services divi
sion where her duties include man
agement of lockbox and bank-by
mail functions. Mr. Porter also
joined the bank in 1970 and is in cor
porate services where he is responsi
ble for marketing cash management
services. Mr. Lind was in private
law practice for 10 years prior to
joining UMB-KC last month. He is
in the commercial loan division.
New assistant vice presidents at
United Missouri are Jeffrey T. Grasser, check processing department,
and Mark Herman, employee benefit
counsel in the employees benefit
division of the trust department.
Edward Burns was elected a trust
officer and employee benefit coun-

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for FRASER Banker, February, 1985
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

sei, and Pamela Carter was elected
an assistant operations officer in the
check processing department.

United Missouri Bank
Launches DISCOVERY
United Missouri Bank of Kansas
City, N.A., has announced the intro
duction of DISCOVERY, a work
station for corporate treasurers.
DISCOVERY allows treasurers
to manage the company’s cash flow
more efficiently and in a more timely
fashion. Primarily, the program of
fers sophisticated balance reporting
that has manual or auto-dial access
with multi-bank capabilities. Bal
ance information is available at any
time during the day, and multiple
timeshare services may be accessed
automatically at any time. Treas
urers also receive disbursement and
deposit information, which they can
analyze and act upon immediately.
By joining the DISCOVERY sys
tem, treasurers lease software from
United Missouri that is compatible
with an IBM PC, XT or AT compu
ter or comparable hardware that has
a minimum 256 K memory and a
Hayes smart modem or acoustical
coupler. Since DISCOVERY is tied
directly to United Missouri’s wire
transfer system, customers can
analyze corporate needs for with
drawals or deposits and initiate
transfers to or from United Missouri
without phone calls or other trans
actions. The system also has fore
casting capabilities to analyze hypo
thetical situations and financial op
tions.
DISCOVERY’S electronic ser
vices include Electronic Funds
Transfer, Automatic Wire Transfer
and Balance Reporting. United Mis
souri is also developing other DIS
COVERY products to accelerate the

cash flow and increase its c o rp o rati
customer’s bottom-line profitability,

Saunders Joins IBAA Staff
George C. Saunders has joinecP
IBAA headquarters in Washington
as re g u la to ry
liaison and econo
mist.
Prior to join
ing IBAA, Mr.
Saunders served
as finance spe
cialist for the
National Federa
tion of Indepen
dent Business in
G.SAUNDERS
W a s h in g to n ,
where he was responsible for bank^
ing, long-term financing, and public
initiatives in development finance as
they related to small firms and their
credit needs. He monitored federal
legislation and regulatory change^
in these areas, developed policy
alternatives and assisted member
firms with financing problems.
Earlier, he spent one year as a
Presidential management in te n d
with the Comptroller of the Curren
cy, where he specialized in small
business credit issues.
He received a B.A. degree in Poli
tical Science and History from Ohic#
Wesleyan University and an M.B.A.
in finance from the University of
California at Berkeley.
He succeeds James B. Benda in
the regulatory area. Mr. Benda h a #
joined Hartwick State Bank in his
native Hartwick, la., as vice presi
dent and general counsel after serv
ing as IBAA’s federal administra
tive counsel since 1980. Mr. B end#
will also practice law in Victor, la.,
and be associated at Hartwick State
Bank with his father, Kenneth J.
Benda, president.

K IS software

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Des Moines, IA 50322

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Corporate
ROMOTIONS and other an
P
nouncements have been made
by the following firms:
0

•

Brandt, Inc., Watertown, Wis.:
Brandt has established a new oper
ating division in Atlanta, Ga. This
division, named Brandt Business
Systems Division, has the purpose
of development and support of the
company’s software-controlled sys
tems products.
Full support will be provided by
Brandt’s Business Systems Division to meet individual customer
needs for such Brandt manufactured
money processing systems as cash
vault management systems and a
variety of cash settlement systems.
The company expansion will also
facilitate increased installation and
training support of Brandt systems
products.
Daktronics, Inc., Brookings, S.D.:
James Spencer has joined the com
pany as person
nel manager. In
the past 10 years
Mr. Spencer has
been in person
nel work, most
recently as per
sonnel manager
for K-Products,
Inc. of Orange
City, la. A na
J. SPENCER
tiv e of B lue
Earth, Minn., he received his BA degree in Economics from St. Olaf Col
lege in Northfield, Minn., and his
MBA degree in Industrial Relations
from the University of Minnesota.
LeFebure, Cedar Rapids, la.:
Charles Cox and Max Mason have
been appointed sales engineers.
Mr. Cox will operate out of the
Des Moines regional office, serving a
territory that includes much of

13
Piper, Jaffray & Hopwood, Min
neapolis: The following officer elec
tions were announced recently: Ken
neth J. Wessels to executive vice
president and manager of corporate
headquarters’ trading department;
Allen R. Olsen to first vice president
and manager of corporate headquar
ters’ futures department, and Den
nis E. Nelson, Wayne D. Schott,
Carol A. Bertsch and Susan R.
Pease to vice presidents. Mr. Nelson
is in corporate bonds sales at Min
neapolis headquarters. Mr. Schott is
manager of the Grand Forks, N.D.,
sales office.

southeast Iowa and named accounts
in Polk County. He is a resident of
Des Moines and has a wide back
ground in sales work.
Mr. Mason is assigned to the St.
Louis regional office, serving a terri
tory that includes western Ken
tucky, southwestern Indiana and
southeastern Illinois. He resides in
Newburgh, Ind., and is a career
salesman.

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

Northwestern Banker, February, 1985

We turn on a dim e
so you can turn a larger
profit.
When money is expensive, so is the
time funds are idle. T h a t’s why so
many banks rely on Northern
Trust Bank for profit-enhancing,
correspondent services. Our exper
tise in getting funds to work
quickly and profitably has earned
us the reputation of being a pre
miere processor for correspondent
banks. In fact, in independent
surveys, The Northern TVust
consistently ranks among the top
three cash m anagement providers
in the industry.
The latest in computer tech
nology assures check collection
and safekeeping th a t’s accurate
and fast. Our Cashline Balance
Reporting System gives you elec

m
■ ■ 11

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

tronic access to your account for
maximum flexibility. You can get
a fresh update every 15 minutes
if necessary —and move money
within hours rather than days.
Add to our sophisticated
equipment the best in personal
attention and responsiveness, and
you get Northern TVust’s ideal
combination of quality and effi
ciency. A dedicated staff of profes
sionals assures you personal
attention in all transactions.
We’re also ready to assist you
in handling your investments.
And our experienced Bond
D epartm ent representatives
are always on hand to provide
knowledgeable advice.
W ith N orthern TVust Bank
behind you, you can count on
better service for your customers.

And a better bottom line for your
bank. For more information,
contact John V. N. McClure,
Wee President, Northern Trust
Bank, 50 South LaSalle Street,
®
Chicago, Illinois 60675. Telephone:
(312) 630-6000. Member F.D.I.C.

The more you want
your bank to do,
the more you need
The Northern.

Northern *
TVust .
Bank

Loan quality

m Key to
1?85
mortgage lending
’''•«in«!!!!!

Written Especially for
T he N orthwestern B anker

By LEON T. KENDALL
Chairman of the Board
Mortgage Guaranty Insurance
Corporation
Milwaukee, Wise.
HE DECLINE in interest rates evident in the
T
fourth quarter of 1984 should hold in early 1985,
with mortgage rates moving toward the 12 percent
level by mid-year. Contrary to what might normally be
expected, however, single-family housing activity
within that favorable rate environment will not be
overly vigorous. Housing starts should approximate a
rather modest 1.6 - 1.7 million units for the year.
What are the factors preventing a more bullish out
look for housing and mortgage lending? They are the
legacies of the past two years, flowing from deregula
tion of mortgage finance and deterioration in the quali
ty of mortgage credit. To understand their impact on
the coming year, one must first look back to late 1983.
Mortgage rates were on the upswing, moving from
12.5% to 13.1% for fixed rate loans, between
November, 1983 and October, 1984, but housing starts
showed no signs of faltering. In fact, they reached an
annualized rate of 2.0 million units in some months. It
appeared that the time-honored axiom of “higher rates
produce lower starts’’ no longer applied.
Fundamental Law Still Prevails
That fundamental law of housing had not been re
pealed. The catalysts to continued strength in housing
were new adjustable mortgage forms and the new free
dom on the part of builders and lenders in pricing mort
gage money. Alternative mortgage instruments fea
turing buydowns, teaser rates and unique sales incen
tives, plus bargain-priced ARM loans, became wide
spread tools of home affordability. The use of lower
monthly payments and low initial year rates to qualify

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

buyers more than compensated for the loss of affor
dability caused by higher real interest rates.
Consumers were quick to embrace ARMs as a key to
immediate ownership and they became the dominant
loan form. The piper, however, was yet to be paid.
Terms like payment shock, collateral shock and in
flated value entered our vocabulary. Investors and
mortgage insurers began to recognize that when inter
est rate risk was shifted to borrowers, it could come
back in future years as credit risk, higher delin
quencies, and losses. Major participants in mortgage
lending, led by FNMA and FHLMC, recognized a need
to develop new underwriting guidelines to avoid future
problems.
Pendulum Now Swinging Back
The pendulum is swinging back. Sound underwrit
ing of mortgage credit has risen to the fore, and quality
of loans, a concept well understood by the banking
community, appears to be the watchword for 1985. Ap
praisers will be seeking the true collateral value of a
property, taking into account the value of financing
and its effect on the sales price. The goal will be to ori
ginate high quality, albeit fewer loans, which is one
reason for a more modest housing outlook this year.
Builders Have Oversold Markets
The other factor is that past excesses, particularly in
certain Sun Belt markets, have, in effect, borrowed
from future demand. By aggressively encouraging
home purchasers through easy terms, builders have
over-sold their markets. Speculative demand has sub
sided and house prices no longer are rising. In some
markets values are down 10% and more. _
Housing will face a year of adjustment in 1985.
Homebuyers increasingly will look to housing for clas
sic, time-honored reasons, rather than for speculative
gains. With little or no inflation, homes will be pur
chased as basic shelter because of sound construction,
good location, good schools, moderate taxes, lifestyle,
and comfort. Home financing, which in the “how much
down, how much a month’’ era became an end in itself
rather than a means to an end, will return to its more
natural role, that of facilitating home ownership for
American families.
□
Northwestern Banker, February, 1985

16
_TL

m ».

1985 housing activity —
down slightly, but stable
Written especially for
T he N orthwestern B anker

By ROBERT L. WALDO
President
Verex Corporation
Madison, Wis.
VER the next two years, we expect general eco
O
nomic growth (and pressure on interest rates) to
build and recede within relatively short time spans,
much as experienced in 1984. Alternating periods of
economic growth and sluggishness are likely to be
much shorter and sharper than in past economic
cycles, as consumers have responded strongly when
rates generally drop to the 13% level, but withdraw
almost as abruptly when rates exceed 14.5%.
Within this framework, housing activity in 1985 will
be down slightly from 1984 levels, although relatively
stable. Mortgage rates between 12.5% and 14.5% will
tend to keep buyers in the market - more so, of course,
at the lower end — and the expected 1.5 - 1.7 million
new household formations should generate housing
starts of 1.5 - 1.6 million (down from 1.8 million), new
home sales of 3.2 - 3.4 million (down from 3.5 million)
and mortgage originations of about $200 billion (down
from $214 billion). We look for activity to be strongest
in the first and second quarters, then plateauing and
tailing off toward year end.
The Effect of ARMs
The availability of Adjustable Rate Mortgages,
among other factors, caused conventional mortgages
to dominate the market in 1984, with FHA and VA
loans comprising only 16% of all originations. While
ARMs comprised about 65% of all 1984 conventional
loans, there are several currents at work which could
reduce the volume of ARMs in 1985. (1) With secon
dary purchasers and mortgage insurers wary of deep
discount ARMs, “teaser” rates are largely a thing of
the past, and borrower qualification becomes more dif
ficult when buy-downs are limited to 300 basic points
Northwestern Banker, February, 1985

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

below the fully indexed ARM rate; (2) A generally im
proved interest rate environment will narrow the
spread between ARMs and Fixed Rate Mortgages, so
that consumers will more likely opt for an FRM if
given the choice; (3) an improved regulatory climate for *
Collateralized Mortgage Obligations (CMOs) may in
crease investor demand for FRMs, putting further
pressure on the FRM-ARM spread; and (4) a greater re
lative proportion of mortgage funds may be generated
through Municipal Revenue Bonds in 1985, and to*
date MRBs have all been funded with FRMs.
We do not expect legislative or regulatory action to
limit ARMs in 1985, as the perceived abuses which re
ceived widespread notoriety in early 1984 have been
aggressively addressed and, for the most part, cor-'
rected through concerted action of lenders, builders, in
surers and the secondary market agencies.
Delinquencies Remain High
The national unemployment rate will probably im-,
prove modestly, to 6.9% - 7.0%. However, historic cor
relations between the national unemployment rate and
and loan defaults are no longer reliable, since a number
of specific-industry related economies (i.e. energy, agri
culture and lumber) are still under stress; and technolo-,
gical changes in industries such as steel and automo
biles have resulted in fewer present employees and the
underemployment of many who previously worked in
these industries. Thus, we expect mortgage delinquen
cies and foreclosures will remain relatively higher ini
1985 than at comparable points in past economic cy
cles.
For the first time in the history of the mortgage in
surance industry, companies were faced in 1984 with
defining for themselves the risks they felt they could'
prudently assume. The major shock resulted not so
much from the imposition of new underwriting stan
dards by the insurers as from the realization that most
companies would no longer accept just any business
that came to the front door. The major “shake-out” is
over, and we do not expect 1985 to produce further
changes of major proportions.
In summary, 1985 may not be a growth year for
housing, but it should be relatively stable with oppor
tunities for lenders, builders, investors and insurers to
consolidate after the gains of 1983 and 1984.
□

The Lobby Manager...
...tr a n s fe r s p a p erw o rk to m ic r o
Written especially for
T he N or thwest ern B anker

By K. MICHAEL PARRISH
President
Advanced Resources Technologies, Inc.
Council Bluffs, la.
HE THOUGHT of applying for a loan these days
T
makes the heads of customers and banking person
nel spin. Involving anywhere from a few pages to man
uscript size, the loan process, more times than not,
turns into a time-consuming chore.
Our solution for the problem of mismanaged time
for banking personnel is our newly designed computer
software called The Lobby Manager.
The Lobby Manager does just what it describes—re
cords installment, commercial and mortgage loan ap
plications and new accounts. In addition, The Lobby
Manager supports its usefulness by providing some of
the more popular and/or useful computer functions ap
plicable to banking services.
The software is designed especially so banking per
sonnel can enter data onto forms which were already in
use before the switch to the automated format. The
computer can be programmed to apply its lobby man
agement use to any bank’s special needs, such as the
multitude of different forms, no matter how unique.
Instead of handwriting data on the application, it is
keyed directly into the computer at the time of the loan
applicant’s interview or from the applicant’s filled-in
form. We estimate the time to process the information
using The Lobby Manager is 10 to 20 minutes for an
installment loan, 20 to 30 minutes for a commercial
loan or mortgage and 10 to 15 minutes for opening a
new account—savings in time from 70 up to 400 per
cent when compared with manual transaction time.
These estimates were compiled from the use of The
Lobby Manager at the Commercial State Bank, in
Phoeniz, Ariz, since June, 1984. This $20 million asset
bank uses 4 microcomputers scattered throughout its
facility.
When compiling platform applications using the
manual method, the forms may change hands three to
four times, compounding chances for error. The Lobby
Manager simplifies the process by minimizing the
handling of actual paper forms. Errors can be cor
rected on the spot on the microcomputer’s video moni
tor long before the information eventually is recorded
on paper via a computer printer. Selection of services,
calculations and transactions are automatically pro
duced on the microcomputer and readily available.
The Lobby Manager also is capable of direct contact
via telephone modem with The Credit Bureau and Dun
& Bradstreet for customer credit checks. Management
reporting, documentation of the bank’s policies and
procedures, and many microcomputer-compatible pro
grams such as spread sheet and word processing, also

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

are available to banks using this software.
W hat’s interesting about The Lobbby Manager is
that all four of the Phoenix bank’s microcomputers can
call up the same information. They are interconnected
via a hard disk drive storage unit. That enables one
bank employee to draw information that was entered
by another employee one day, one hour or one minute
ago.
Another bank in St. Petersburg, Fla., with $125 mil
lion in assets, just recently interconnected or net
worked 20 microcomputers.
North American Financial Services, a national bank
servicer headquartered in Davenport, la., distributed
and is installing the St. Petersburg bank’s microcom
puter hardware and software. Other distributors are
International Communications Management head
quartered in Seattle, Wash., and Unimark, Inc. based
in Overland Park, Kan.
The distributors also train the banking personnel to
use The Lobby Manager. Training and use of the soft
ware is aided by help windows shown on each video
monitor screen, more or less replacing the need for the
software manual. Each step of the process is detailed
on the help panels, so memorizing functions is greatly
reduced using The Lobby Manager.
Cost of The Lobby Manager software starts at ap
proximately $2000 for use with one microcomputer.
This one-station minimum system requires two double
density floppy disk drives and 156K of random access
memory (RAM). However, to get the best use of any
microcomputer purchased for banking purposes, we re
commend computer hardware with hard disk capabili
ty. If a bank does start with the minimum require
ments, however, down the line the microcomputer can
be upgraded into a system of microcomputers all net
worked into a hard disk drive which retains the infor
mation in a central location.
Our firm provides the interconnecting of microcom
puters with a software program designed by Novell
Network, Orchid Technologies or Sperry Usernet. The
upgrading to a multiple microcomputer system takes
as little as 15 minutes for the installation.
The Lobby Manager software is compatible with
microcomputer hardware produced by IBM, NCR,
Sperry and Columbia Data Products.
Through our distributors, we guarantee the soft
ware program. While Advanced Resource Technolo
gies is now the only lobby management software pro
ducer listed in the Bank Administration Institute mag
azine, we are sure others are selling similar products.
When not in use for any of these above mentioned
functions, The Lobby Manager can slip into its latest
advertising campaign. The microcomputer can be pro
grammed to display a “billboard” advertising some of
the bank’s offerings, from safe deposit box rentals to
current interest rates. Even the bank’s logo can be dis
played—in living color!
□
Northwestern Banker, February, 1985

BM A O ffe rs
F in an cial M ark etin g
S o ftw a r e S e r ie s
ARKETERS increasingly are being asked to play
M
a major role in developing a balanced mix of pro
fitable bank products. To help them perform this
broader and more complex function in a cost-effective
way, Bank Marketing Association, Chicago, has intro
duced the Financial Marketing Software Series
(FMSS), a unique marketing-specific series designed
by marketers for marketers.
Developed by the BMA Research and Planning
Courted and designed by J.
McDuffie Brunson, founder of
Brunson and Associates, Inc.,
and vice president, First Na
tional Bank of Louisville, Ky.,
the models in the series are:
• PV Price — a perceived
value pricing model
• CProfit — a deposit ser
vice profitability model
• DProfit — a customer
profitability model
• MFile — a marketing cus
tomer information file
• MBudget — a marketing
division budget model
The FMSS series operates
on IBM or Apple computers
working with existing software. Little start-up time is
needed, and by using the editing commands of the host
software, marketers can alter the formulas, print for
mats, reports and field contents to suit the needs of
their institution without paying for custom program
ming. W hat’s more, the series contains a tutorial fea
ture at the beginning of each model that “walks” the
user through the program.
• PVPrice applies to non-credit services. It takes an
institution’s cost and pricing data and combines them
with volume estimates to compute the demand curve
for the product, the optimum price to maximize gross
revenue, the optimum price to maximize contribution
to overhead, the break-even point in volume at each op
timum price, and the profitability of any targeted price
that an institution may set. The model can be used to
price virtually the entire range of services.
• DProfit can analyze the profitability of demand,
savings, time, certificates, and retirement accounts by
minimum or average balance range and by type of ac
count—simultaneously. For example, what would be
the effect on the profitability of the demand portfolio
of an increase in service charges on a regular demand
account? By testing various scenarios of account loss
and transfer, the range of magnitude of the possible
Northwestern Banker, February, 1985

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

Written especially for
T he N orth western B anker

By BARBARA ROSS
Vice President and Director
Marketing Division
Bank Marketing Association

impact can be determined. The model can handle dif^
ferent types of deposit accounts simultaneously ancr
can be used to test the earnings impact of changes in
interest rates and other changes.
• CProfit and MFile work in tandem to analyze the
profitability of relationships with retail or business^
customers.
• MFile creates a central information file that in
cludes the following data: account ownership, classifi
cation data (retail and busi
ness), deposit account d ata^
loan account data, and special
services.
CProfit takes an institu
tion’s cost and earnings data
and applies these factors t<^
the total relationship con
tained in MFile to compute
the profitability of the rela
tionship.
The combination of th e s ^
two programs aids in the de
velopment of long-term mar
keting and advertising plans
aimed at increasing customer
relationships. CProfit alsq^
provides the ability to mea
sure the success of these long-term plans.
•MBudget, an internal control model, is available in
addition to the product development tools.
The MBudget system enables marketing managers^
to budget at a department level, general ledger account
level, project level, and/or vendor level and permits
cross-budget between departments and within the divi
sion. For example, research, public relations, and ad
vertising and product development could budget foi#
their expenses associated with a project, and the
system could then pyramid the departmental budgets
into a project budget, while maintaining the expenses
under the budget control of the area responsible for the
expenditure.
•
MBudget, in addition to budgeting capabilities, can
be used to track marketing expenditures and report
variances throughout the year.
The FMSS series will be demonstrated at the BMA
Research and Planning Conference to be held A pri^
14-17 at the Boston Marriott Hotel.
For more details on any or all of the models in the
FMSS series, contact our Research and Planning De
partment of BMA at 309 West Washington Street,
Chicago, 111. 60606.
®

A.J. KING

B.F. BACKLUND

President

C.T. DOYLE

C.L. VAN ARSDALE

1st V.P.

K.A. GUENTHER

2nd V.P.

Treasurer

Exec. Dir.

INDEPENDENT EANKERS
. ASSOCIATION O F AMERICA

EMBERS of the Independent Bankers Associa
tion of America, their spouses and families will
gather in historic San Antonio, Tex., March 6-10 for
the 55th annual IBAA convention. Presiding will be
^IB A A President A.J. King, president, Valley Bank,
Kalispell, Mont. Officers serving with him the past
year are: 1st V.P.—B.F. “Chip” Backlund, president,
Bartonville Bank, Bartonville, 111.; 2nd V.P.—C.T.
Doyle, CEO, Gulf National Bank, Texas City, Tex.,
^an d Treas.—C.L. VanArsdale, president, Bank of Cas
tile, Castile, N.Y. The IBAA executive director is Ken
neth A. Guenther, who heads the Washington head
quarters staff. Meetings will be held in the San Antonio
Convention Center.
0 Important highlights of the convention are:

General Session Speakers:
• Paul Volcker, chairman, Federal Reserve Board,
Washington, D.C.
^ • Hon. James Wright, D.-Tex., House Majority
Leader.
• Hon. Thad Cochran, R.-Mass., chairman of appro
priations subcommittee of the Senate Agriculture
Committee and secretary to the Republican Confer
ence.
• Hon. Henry Cisneros, Mayor of San Antonio.
• Hon. Ted Schwinden, Governor of Montana.
• Charles Kuralt, CBS news correspondent.
• IBAA President A.J. King.

^Special Interest Sessions and Leaders:
• The One-Bank Holding Company—William P.
Johnson, Denver, and John J. Kendrick, Dallas, attor
neys.

P. VOLCKER

J. WRIGHT

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

T. COCHRAN

T. SCHWINDEN

M e e ts M ar. 6 - 1 0
in S a n A n to n io
• Use of Microcomputers in Banks—M. Arthur
Gillis, Atlanta, consultant.
• Commercial Lending—Allen R. Houk, president,
Diversified Group, Houston.
• Special for Young Bankers—George Blanda, for
mer NFL player.

Luncheons, Receptions, Banquet:
• Bankers—Friday, March 8 at 12:00 noon in EXPO
Center for cocktails and lunch. Reception sponsored by
John Hancock Insurance Co.
• Spouses—Friday, March 8 at 12:00 noon.
• Champagne Brunch.
• Reception—Thursday, March 7. “Festive Night in
Olde San Antonio,” sponsored by Barclays/VISA
Travelers Cheques, Innerline, and Travelers Express.
Sombreros provided by St. Paul Companies.
• Reception—Friday, March 8, “ Moonlight
Cabaret” at Hilton Palacio del Rio. Cocktail show fea
turing comedian/singers Danny Gans and Julie Dees,
sponsored by Parker North American Corporation.
Opens at 10:00 p.m.; entertainment begins at 10:30
p.m.
• Banquet—Saturday, March 9, at San Antonio
Convention Center. Reception on the Riverwalk,
hosted by IBAA. Annual Banquet follows, with coun
try western singer Charlie Pride as entertainer.

Tours:
• An afternoon in Alamo City—Museum of Art,
38-acre Botanical Center, Fort Sam Houston, Breckenridge Park.
• San Antonio Tour—full day through history in old
San Antonio, including King William District, McNay
Art Institute, lunch at Los Patios, Mexican Market. □

A.R. HOUK
Northwestern Banker, February, 1985

B e w a r e t h e w o lf
in s h e e p ’s c lo t h in g
n today’s competitive environment, we believe it is
important for the independent community banker to
Iclosely
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

DigitizedNorthwestern
for FRASER Banker, February, 1985
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

B A N K

- S A I N T

P A U L

Elected in Owatonna

sity of Minnesota. He joined the
Farm Credit System as a loan officer
at the Production Credit Associa
Thomas “Buzz” Burich has been tion of Juneau, later serving as
elected president and chief adminis manager of its West Bend branch
trative officer of
before joining the Farm Credit
Citizens Bank &
Banks of St. Paul. He served as
Trust Co., Hut
senior vice president in charge of
chinson. He also
operations, bank administration,
serves as a mem
and most recently, management ser
ber of the board
vices.
of directors and
as chairman of
the credit com
First Bank Northfield
mittee.
Elects New President
Mr. Burich is
T.A. BURICH
a 1961 graduate
The board of directors of First
of Hutchinson High School and re Bank Northfield has elected F. Don
ceived his bachelor of arts degree in ovan Kuehnast
1965 from the College of St. president and a
Thomas. He joined First National director. He suc
Bank of Minneapolis in 1966 as a ceeds the late
trainee. After transferring to the G ordon
F.
commercial lending department in Clarke.
1971, he served as commercial loan
Mr. Kuehnast
officer, vice president and division m ost recently
head within the commercial banking served as vice M àÊÊËÊÈÎÈ F Jfch*.
group at First National.
p re sid en t and
Mr. Burich joined Citizens Bank manager of the Ä
F.D. KUEHNAST
in 1982 as executive vice president retail division of
and chief operating officer. He First Bank Edina, a position he has
serves on the board of Minnesota held since 1983. He began his career
Mortgage Marketing Corporation, with First Bank System in 1967
as a member of the commercial loan when he joined First Bank Minnea
committee of the Minnesota Bank polis as an internal auditor. He
ers Association and as an advisor to joined First Bank Edina in 1970 and
the council for community banks of was promoted to assistant cashier in
the American Bankers Association. 1972 and assistant vice president
Mr. Burich becomes the fourth and manager of personal banking in
president of Citizens Bank, which 1976.
was founded in 1886. His father, Ir
vin Burich, who has been president
since 1963, will continue as chair Mankato Director Elected
man of the board of directors and
George W. Sugden, chairman and
chief executive officer.
chief executive officer for Norwest
Bank Mankato, N.A., has announced
the election of Robert R. Bennett to
Waseca President Named
the bank’s board of directors.
First Bank Waseca has elected
Mr. Bennett is on the board for
Neil N. Fruechte president. He re the Madelia-Lake Crystal Township
places William Draeger, who retired and Mutual Fire Insurance Com
the end of this year.
pany and is involved with the Farm
Mr. Fruechte, a native of Cale Bureau and the Minnesota Soybean
donia, is a graduate of the Univer Association.

Burich Named President of
Citizens Bank, Hutchinson

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Federal Reserve Bank of St. Louis

Kenneth E. Wilcox, president of
Norwest Bank Owatonna, N.A., re
cently announced that Timothy M.
McManimon has been elected assis
tant vice president of the commer
cial loan department.
Mr. McManimon joined Norwest
Bank in September, 1983, as com
mercial officer and prior to coming
to Owatonna was employed for two
years at the Norwest affiliate in
Winona.

Hopkins Changes Announced
First Bank Hopkins has announced
the following management changes:
Franklin L. Brosseau has been
named executive vice president. He
joined First Bank Minneapolis in
1972 as a conversion specialist. His
most recent position was vice presi
dent in the metropolitan corporation
division.

F.L. BROSSEAU

B.H. SENSKE

J. SAN FELIPPO

D. PUKALL

Bruce H. Senske has been named
senior vice president/lending divi
sion head. He joined First Bank
Hopkins in 1977 as a management
associate, most recently serving as
vice president in the commercial
lending department.
Jack San Felippo has been named
vice president/real estate. He joined
First Bank Hopkins in 1976 as an ad
justor. His most recent position has
been assistant vice president in the
real estate department.
Debra Pukall has been named ex
ecutive banking officer. She joined
in 1974 in the compensation depart
ment.
Northwestern Banker, February, 1985

IRST BANK System has re
F
structured the organization of
its Metropolitan Division effective
F e b ru a ry
1,
1985, according
to an announcement by George
H. Dixon, chairman of the board
and chief executive officer and
keny, Jr., presid e n t an d c h ie f
o p e ra tin g officer.

m ftftP ^ ftftfta m
' ^
X•
Kb %
& 7* - \
I
d .e .

jft
EVANS

R.W. SCHOENKE

W.F. FARLEY

R.L. SHEPLEY

J.L. REISSNER

Dennis E. Evans, vice chairman of
First Bank System and chairman of
First Bank Minneapolis and First
Bank Saint Paul, has been named to
the additional position of Chairman
and chief executive officer of the
Metropolitan Division.
Richard W. Schoenke, who has
served as president of First Bank
Minneapolis since 1980, will ad
vance to president and manager of
the Metropolitan Division. He will
Northwestern
Banker, February, 1985

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

also serve as vice chairman and di
rector of both First Bank Minneapo
lis and First Bank Saint Paul.
Succeeding Mr. Schoenke will be
William F. Farley who has been
elected president and a director of
First Bank Minneapolis. Mr. Farley
has most recently served as execu
tive vice president and chief finan
cial officer for First Bank System.
These duties will be assumed by Mr.
Evans.
Prior to joining FBS in January,
1984, Mr. Farley had been chief
financial officer of Alexander &
Alexander since 1981. He began his
career in 1966 at Citibank, New
York, where his early positions in
cluded strategic planning and man
ager of the World Trade Center Of
fice. Mr. Farley was appointed depu
ty manager of Citibank’s Lower
Manhattan Region in 1972, regional
manager for Nassau County in 1973
and manager of the bank’s Manhat
tan Region in 1974. He was elected
President of Citibank New York
State in 1975, a position he held un
til 1978 when he became a partner of
KKB Bank, a Citicorp-owned bank
in Düsseldorf. He is a graduate of
Stanford University where he re
ceived a bachelor’s degree in eco
nomics and an MBA with a concen
tration in finance.
Richard L. Shepley, executive
vice president of the Corporate
Group for First Bank Minneapolis,
will become executive vice president
and deputy manager of the Metro
politan Division. Mr. Shepley has
also been elected to the board of di
rectors at First Bank Minneapolis
and First Bank Saint Paul.
James L. Reissner has been
elected executive vice president of
the Metropolitan Division responsi
ble for consumer and small business
banking.
*

The board of directors of First
Bank Grand, St. Paul, has elected
David A. Zelin
sky p resid en t
and a director.
He su cceed s
Donald G. Dirk,
who has retired.
Mr. Zelinsky
has been associ
ated with First
B ank S y stem
since 1976, when
DA ZELINSKY
he joined the
company as a compensation analyst.
In 1977, he was appointed a finan
cial analyst in the investor relations
department and was promoted to fi
nancial analysis officer in 1978. Mr.
Zelinsky became the assistant to the
managing director of First Bank
System’s Metro bank affiliates in
1982 and was promoted to vice
president earlier this year.
* * *
Norwest Bank St. Paul, N.A. re
cently announced the election of R.
Lee Brown as vice president in the
small business division and Bradley
G. Peterson as commercial lending
officer in the sales finance division.

R.L. BROWN

B.G. PETERSON

Mr. Brown joins the bank from
Norwest Bank University-Midway.
He attended the Wisconsin Gradu
ate School of Banking and the Na
tional Commercial Lending Gradu
ate School.
Mr. Peterson joined the bank

We extend more than credit.
We extend ourselves.
As F&M Marquette’s Correspondent
Banking system continues to create
new services to meet new
demands, we’re determined to
keep our most valuable resource
exactly as it’s always been: quality
services, delivered with personal
commitment and care.

Our correspondent bankers still
believe in meeting you in your own
back yard. Walking Main Street in
your town. Talking with you, and
listening to what you have to say.
Then coming through to give you
and your community exactly what
you need.

That's how we've built our corre
spondent reputation for personal
service, tmst, and confidence:
extending ourselves for you.
Anywhere. Anytime. All the time.
Leam more about professional
services with a personal difference.
Callus at 612/341-6561.

A F&M Marquetle Nanonl Bank
Correspondent Banking

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

24
Minnesota News
from Norwest Bank Omaha, N.A.,
where he was a regional credit
trainee.
* * *

vice president of
human resources.
In this newlycreated position,
Mr. McKnight
will be respon
More than $4 million in student sible for the
loan money will be available at F&M b ank’s overall
Marquette National Bank, Minnea human resources
polis, under an agreement made policies and pro
with the Student Loan Marketing cedures. Most re
Association (Sallie Mae). F&M Mar cently he served
quette officials estimate that the
agreement could result in more than
1,700 loans for students.
Under the agreement, F&M Mar
quette will sell student loans it ori
ginates to Sallie Mae, an arrange
ment which will enable the bank to
become more active in the Guaran
teed Student Loan Program, accord
ing to David Zimmer, F&M Mar
quette assistant vice president and
manager of the installment loan de
partment.
F&M Marquette will keep student
loans on its books for an initial
period. Before each loan goes to the
repayment stage, however, Sallie
Mae will purchase it from the bank.
This arrangement allows F&M Mar
quette to recycle its funds, Mr. Zim
mer said. F&M Marquette sold
$389,000 in loans immediately after
obtaining the commitment and will
J.S. ROMLIN
sell the remaining loans over the
next four years.
* * *

W.P. MC KNIGHT

K.W. SAYRE

Richard Reis has been elected se
nior vice president and mass market
manager at Nor
west Bank Mid
land according
to E rn e st C.
J.G. COLYER
L.D. KARTHEISER
Pierson, chair
man and CEO.
M r.
R eis
began his Nor
west career in
1963 at Norwest
Bank South St.
Paul where he
served as a personal banker, install
ment lender and vice president of
the real estate department. In 1982
P.T. LARSON
V. ROLFSHUS
he joined Norwest Bank Central as
vice president of consumer lending as vice president and director of ad
and was named senior vice president ministration for ITT Industrial
and manager of retail banking in Credit in St. Paul.
1984.
Several other promotions and ad
* * *
ditions to the staff have also been
announced.
James D. LaBreche has been
F&M Marquette National Ba^ik
has appointed William P. McKnight named vice president in the commerNorthwestern Banker, February, 1985

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

cial banking department. Previously
a ss is ta n t vice p resident, Mr.
LaBreche joined the bank in 1982
and formerly was with Northwest
ern Bank West, Hopkins.
New assistant vice presidents are:
Kathleen K. Balaban, bookkeeping;
Richard J. Carlson, and Judith S.
Romlin, commercial banking, and
Kevin W. Sayre, private banking.
New officers include: Jeffrey G.
Colyer, assistant trust officer; Lori
D. Kartheiser, loan accounting offi
cer in the commercial lending area;
Perry T. Larson, correspondent loan
servicing officer, and Vicki Rolfshus, operations officer.
Ms. Balaban has been with the
operations department since 1968.
Prior to joining the bank’s commer
cial banking department, Mr. Carlson was with several banks in Cali
fornia. Ms. Romlin was with North
western National Bank of St. Paul,
before joining F&M Marquette in
1982. Mr. Sayre previously served
as client executive, financial institu
tions group for Norwest Bank in La
Crosse, Wis.
*

James W. Shaw has joined First
Bank Minneapolis as vice president
and manager of the bank’s regional
loan office in Los Angeles, Calif. The
new office was opened January 2,
1984. Mr. Shaw most recently man
aged the California regional office
for the Bank of Montreal for two
years.
First Bank Minneapolis also an
nounced the promotion of Levor
(Bud) Garnass to vice president. He
joined the bank in January, 1984,
and has been serving as assistant
vice president in the government
trading/sales division of the capital
markets and treasury group.
* * *
Bruce W. Hebei, investment ser
vices group vice
p re s id e n t for
First Bank Saint
Paul, has been
elected president
of th e Twin
Cities Bond Club
at the organiza
tion’s 63rd an
n u al m e etin g
held in Decerng ^ HEBEL
ber.
Mr. Hebei has belonged to the

•

Statement o f Condition
National City Bank
(in thousands)
December 31

Assets
Cash and Due from Banks....................................................................................
Interest Bearing Time Deposits with Foreign Banks..................................................
Investment Securities:
US. Treasury ...................................................................................................
U.S. Government Agencies................................................................................
Obligations of States and Political Subdivisions...................................................
Other Securities................................................................................................
Total Investment Securities ............................................................................
Trading Account Securities....................................................................................
Federal Funds Sold................................................................................................
Loans, Net of Reserve for Loan Losses
1984 $4,280; 1983 $3,219 and Unearned Discount 1984 $63; 1983 $145 .................
Leasehold Improvements and Equipment .............................................................
Accrued Income Receivable..................................................................................
Customer Acceptance Liability..............................................................................
Other Assets.........................................................................................................
Total Assets...................................................................................................
Liabilities & Stockholders’ Equity
Deposits:
Non-Interest Bearing..........................................................................................
Interest Bearing.................................................................................................
Foreign Branch.................................................................................................
Total Deposits................................................................................................
Federal Funds Purchased and Securities Sold
Under Agreements to Repurchase .....................................................................
Other Borrowed Funds..........................................................................................
Acceptances Outstanding......................................................................................
Other Liabilities...................................................................................................
Subordinated Note................................................................................................
Total Liabilities ..............................................................................................
Stockholders’Equity:
Common Stock, Par Value $5.00
Authorized 2,500,000 shares
Issued 2,400,000 shares..................................................................................
Surplus.............................................................................................................
Undivided Profits..............................................................................................
Total Stockholders’Equity..............................................................................
Total Liabilities and Stockholders’Equity.........................................................

1984
$ 30,516
5,000

1983
$ 34,445
20,000

39,822
30,934
29,198
721

22,852
13,058
39,083
721

100,675
220
33,850

75,714
1,246
15,000

255,400
3,458
6,422
1,555
5,406
$442,502

256,427
3,144
5,845
737
2,260
$414,818

115,128
222,678
10,299

$78,307
242,201
12,555

348,105

333,063

39,804
4,999
1,555
5,757
3,000

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

$403,220

$380,030

12,000
12,000
15,282

12,000
12,000
10,788

39,282

34,788

$442,502

$414,818

Directors of National City Bank of Minneapolis
James H. Hearon, III
C h airm an o f the Board
a n d C h ie f Executive Officer

Sister Mary Madonna
Ashton, CSJ

Marvin Borman

James B. Goetz

C. Bernard Jacobs

Partner

C om m issioner o f Health

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

National City Bank

State of Minnesota

Maslon, Edelman, Borman,
and Brand

David L. Andreas

Howard E. Barnhill

Kenneth H. Dahlberg

Information Dialogues, Inc.

Vice President

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

C h a irm a n o f the Board
and C h ief Executive Officer

Walter W. Heller

National City Bancorporation

Lowell W. Andreas
President and
C h a irm an o f the Board

North American Life
and Casualty Company

Dahlberg Incorporated

Regents’ Professor
o f Economics

University of Minnesota

National City Bancorporation

Retired C h airm an o f the Board

Retired President

National City Bancorporation

Walter E. Meadley, Jr.
President
and C h ie f Operating Officer

National City Bank

Ralph C. Turnquist
C h airm an o f the Board
and C h ie f Executive Officer

Turnquist Paper Company

NATIONAL CITY BANK
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.LC.

Northwestern Banker, February, 1985

Minnesota News

behalf of an affiliate, has agreed to
acquire and continue these pro
grams. Norwest Mortgage will pro
vide administrative services during
a transition period.
In addition, Norwest Mortgage
Carl Pohlad was named Executive
of the Year by Corporate Report sold its mortgage servicing rights
Minnesota magazine. Mr. Pohlad is associated with these programs.
featured in the cover story of the After giving effect to this sale, its
business magazine’s January issue. servicing portfolio at year-end 1984
He is president of F&M Marquette was approximately $11 billion.
Robert V. Gorsche, president of
National Bank, chairman of ME I
Norwest
Mortgage, also announced
Corporation, and owner of the Min
a
subsidiary
of the company has dis
nesota Twins.
Jay Novak, editor of Corporate continued accepting applications for
Report Minnesota, said the selection mortgages on manufactured hous
of Mr. Pohlad as recipient of the Ex ing.
The company also announced it
ecutive of the Year award was una
nimous among the editorial staff of has agreed to sell, subject to neces
the magazine. The designation is sary board approvals, the assets of
based upon career accomplishments its subsidiary, Residential Funding
in business, achievements of the Corporation, to Salomon Brothers
past 12 months, and commitment to Realty Corp. Residential Funding
social citizenry. Mr. Pohlad also was will continue to serve thrift institu
named to the Minnesota Business tions and other traditional origina
tors, purchasing their mortgages
Hall of Fame in 1983.
and packaging them primarily as se
* * *
curities for sale in the secondary
market. This transaction is expected
At First Bank Lake, Minneapolis, to be finalized in the first quarter of
Patricia A. Talbot has joined as 1985.
manager of retail deposits. Cindy
* * *
Cofer Reese has been elected train
ing and marketing officer for the
Barbara J. Lowell has been elected
central cluster of First Bank Sys manager of the Apache Office of
tem, which is comprised of First First Bank Se
Bank Lake, First Bank Grand and curity in Colum
First Bank Security.
bia Heights.
Ms. Low ell
s ta r te d w ith
First Blooming
ton Lake Na
tional Bank in
1966 and has
worked as a per
sonal b anker,
B.J. LOWELL
marketing offi
cer and business development and
most recently as instalment loan of
P.A. TALBOT
C.C. REESE
ficer.
Ms. Talbot has six years of exper
* * *
ience in retail management, sales
management and telemarketing.
Wayne Gjerde recently joined the
Ms. Reese most recently served as retail banking department of St.
credit review officer in the commer A n th o n y N a
cial lending department of First tional Bank, St.
Bank Lake.
A n th o n y V il
* * *
lage, as a retail
banking officer.
Norwest Mortgage last month an His primary du
nounced it has discontinued its par ties are sales fi
ticipation in two residential mort nance, in s ta l
gage programs, which provide mort m ent banking
gages to relocating and other corpo and custo m er
service.
rate employees.
Mr. Gjerde is
A major insurance company, on

350-member, non-profit association
of metropolitan bond dealers since
1974.
* * *

Northwestern Banker, February, 1985

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Federal Reserve Bank of St. Louis

a graduate of St. Johns University #
and previously was employed by
Household Finance and The First
State Bank of Spring Lake Park.
* * *

•

Bradley M. Robinson has been
elected to the board of First Bank
Plymouth. Mr. Robinson is presi
dent of Robinson Rubber Products,
Inc., a family owned business.
•
* * *
Peter A. Batinich has been elected
manager of the Highland Office of
F ir s t
B ank
Grand, St. Paul.
Most recently he
served as instal
ment loan officer
at the main of
fice of F ir s t
Bank Lake in
Minneapolis.
Mr. Batinich
began his career
P.A. BATINICH
with First Bank
System in 1980 with First Bank
Bloomington Lake National Bank.
* *
Wallace V. Blomquist has been
named senior vice president for First
Bank Saint Paul
and Angela M.
Vikesland and
Thomas
W.
Steele have been
named assistant
vice presidents.
M r.
B lom
quist, who joined
First Bank Min
neapolis in 1955, W.V. BLOMQUIST
had been a senior

A.M. VIKESLAND

T.W. STEELE

vice president for the special loans/
commercial division for the bank. He
now has responsibility for commer
cial loan workout activities at both
First Bank Minneapolis and First
Bank Saint Paul.
Ms. Vikesland joined the bank in
1982 as a financial systems officer.

27
William Steiner, a prior owner, will ness Economics Education Founda
also join the agency as an agent. tion (BEEF), will sponsor Minneso
First Insurance Mankato will con ta Business Venture, a week-long
tinue to be managed locally by summer program for high school
Delvin Meyer.
students to learn more about busi
ness and economics.
According to Galen Pate, MBA
Maple Grove Election Told
president, the purpose of Minnesota
Timothy A. Verbrugge has been Business Venture is to enable stu
elected commercial banking officer dents and teachers to understand
at Norwest Bank Maple Grove.
the private enterprise system and
Prior to joining the bank in 1983, the role of business in society; to
Mr. Verbrugge was a senior analyst learn about state, national, and glo
at Norwest Business Credit. He is a bal economics, and to gain leader
graduate of College of St. Thomas.
ship skills and insight into career op
portunities. Sophomore, junior or se
nior level students are eligible, and
Three Advanced in Rochester each student is sponsored through a
John Novotny has been promoted scholarship program.
to vice president of Norwest Bank
MBA member banks will help
Rochester. Also,
promote Minnesota Business Ven
announced, Peg
ture by providing scholarship fund
Mattke has been
ing and encouraging students from
named manager
their communities to participate.
of the personal
Minnesota Business Venture will
asset m anage
hold two one-week sessions this
ment center and
year, July 7-13 and July 21-27, 1985.
Beverly Simp
son has assumed
Marshall Addition Told
the added re
First American Bank & Trust of
sponsibility of
Marshall has announced the addi
m anaging the
tion of Stephen
Northside Office.
A. Tornio as vice
president, agri
cultural loans.
He has also as
sumed responsi
bility as man
ag er of th e
agricultural
credit d e p a rt
ment.
S.A. TORNIO
M r. Tornio
P. MATTKE
B. SIMPSON
has been associated with several
Wisconsin banks the past ten years,
Mr. Novotny started with the most recently as vice president and
bank in 1982 as commercial/agricul- senior loan officer of Mosinee Com
tural lending officer. He is a gradu mercial Bank.
ate of the University of Nebraska at
Lincoln with a bachelor’s degree in Merger Completed
agricultural economics and finance.
Following approval from the
Ms. Mattke, currently vice presi
Comptroller
of the Currency, the
dent, joined the bank in 1978. Most
merger
of
First
American Bank of
recently she managed the Northside
Crookston and State Bank of Shelly
Office.
Ms. Simpson, vice president, with and into the First National
most recently managed the Green Bank of Crookston has been com
Meadows Office. She joined the pleted. The bank’s new title is The
First American National Bank of
bank in 1956.
Crookston.
Minnesota News

• Her new responsibilities are for the
planning and analysis division of
First Bank Saint Paul and First
Bank Minneapolis and for the Metro
wide Financial Planning Division.
•
Mr. Steele had been with First
Bank Milwaukee since 1976. Prior to
that he held positions with Flagship
Bank of Tampa, First National Bank
of Tampa and the Thomson and Mc• Kinnon brokerage firm.
* * *
John Howell Bullion has joined
1FBS Venture Capital Company of
Minneapolis as a
vice president
and investment
officer.
Mr. Bullion
joins FBS Ven
tu re
C a p ita l
Company from
C raig -H allum ,
Inc. where he
served as vice
•i , r
J.H. BULLION
president
of cor
porate finance. He also worked for
International Multifoods Corp. from
1977-1982.
FBS Venture Capital Company,
with offices in Minneapolis, Scotts
dale, Ariz., and Denver, Colo., (early
1985), is a partnership between First
' Bank System, Inc. and Community
Investment Enterprises, Inc. The
company was founded in Minnesota
and has 24 years experience in ven
ture investing.

FBS Acquires Mankato
Insurance Agency

First Bank System, Inc. Minnea
polis, has received approval from the
Federal Reserve Bank of Minneapo
lis to acquire an insurance agency in
q Mankato. The agency, Orcutt, Sletta, Steiner Inc., which does business
as The Insurance Center, will be
come part of FBS Insurance, the
company’s insurance brokerage sub
sidiary.
The Insurance Center, established
in 1967, will continue to operate
from its current location until
March. At that time it will be con
solidated with the company’s exist
ing local agency, First Insurance
Mankato.
Hastings Banker to Head
Vernon Orcutt and Conrad Sletta, MBA Co-Sponsors
Minnesota
Business
Venture
former owners of the acquired agen
Cooperative Bank Office
cy, will join First Insurance Manka
The Minnesota Bankers Associa
Merle D. Borchers, Chairman and
to as senior account executives. tion, in partnership with the Busi chief executive officer of Norwest

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Federal Reserve Bank of St. Louis

Northwestern Banker, February, 1985

28
Minnesota News
Bank Hastings, has been named
vice president and regional manager
of the National Cooperative Bank,
Washington, D.C., according to
Bank President Thomas S. Condit.
Mr. Borchers, 43, will head the
bank’s Minneapolis office which
serves cooperatives throughout the
central United States. The National
Cooperative Bank provides commer
cial loan and corporate financial ser
vices to businesses organized as
cooperatives and to cooperative
residential real estate projects.
Mr. Borchers has 20 years of com
mercial banking experience begin
ning in 1964 when he joined Norwest Bank Omaha South, Omaha,
an affiliate of the Minnesota based
Norwest Corporation. A chartered
financial analyst, his experience has
also include portfolio planning,
strategic and contingency planning
and investment analysis.

son, director of teller operations;
Geri Moshier, assistant director of
teller operations; Mary Kay Pfannenstein, teller supervisor.

ILLINOIS NEWS...
•
(Continued from page 31)
will serve in commercial services.
Mr. Edge, with American Bank for
14 years, will serve in retail banking.^

Four Elections Announced
At Lake Crystal Natl. Bank

McHenry Promotions Told

At the annual meeting of the
McHenry State Bank, McHenry,
Lake Crystal National Bank re the following officer personnel were#
cently announced the election of the promoted:
following employees:
Donald H. Meyer, vice president;
Roger Schmeising has been elected Keith Leathers, loan officer; Linda
vice president and agricultural loan Wigman, assistant loan officer, and
officer. He graduated from Mankato Kathleen Moehling and C hris#
State University with a BS degree in Marke, assistant cashiers.
economics. Prior to joining the Lake
Crystal National Bank, he was en
gaged in farming in the St. James Wilmette President Named
To Additional Post of CEO ^
area since 1959.
The board of directors of First Il
linois Bank of Wilmette has named
its President, Dennis C. Mullen, 44,
to the additional post of chief execu
tive officer.
#
Mr. Mullen succeeds Carl S. Stan
ley as CEO. Mr. Stanley will con
Zapp National, St. Cloud
tinue as chairman of the Bank and
chairman of First Illinois Corpora
Promotions Announced
tion.
•
The board of directors of Zapp Na
tional Bank, St. Cloud, recently an
R. SCHMEISING
P.J. CROWLEY
Announced in East Dubuque
nounced the promotion of the follow
At East Dubuque Savings Bank,
ing officers:
Janet Owczarek, assistant cashier,
Gerald J. Plachecki has been
has taken on the additinal duties o f^
named senior vice president, lend
coordinating electronic banking
ing. He has been with the bank 28
functions, and Linda Runde, a new
years, most recently as vice presi
officer of the bank, is taking on the
dent in the commercial lending de
responsibility of personnel officer. ^
partment.
William Anderson has been named
vice president, commercial lending.
Two Elected At
He joined in 1983 as assistant vice
First Illinois Corp.
president, working in commercial
M.
LANDKAMER
G.
THOMPSON
Robert A. Lennox, Jr., has been^
and SBA lending operations.
elected a vice president of First Illi
Marcia L. Puls, promoted to vice
Pat J. Crowley has been elected nois Corporation, Evanston. In addi
president in marketing, has been re
sponsible for marketing and adver assistant vice president. She began tion, Clifford R. Johnson has been
tising at Zapp National since joining her banking career in 1980 at First elected to the corporation’s board of
^
Bank Luverne. Mr. Crowley ob directors.
the bank as an officer in 1983.
Prior to joining First Illinois, Mr.
Bernie Gruenes, new vice presi tained her BS degree in business ad
dent, will also serve as manager of ministration from Mankato State Lennox was vice president of the
Chicago office of the European
the bank’s newly opened Midtown University.
American Bank and Trust Com
Mary
Landkamer
has
been
ap
Office. He joined the bank in 1983.
,
Harold Orcutt has been named pointed cashier of the bank. She pany.
Mr. Johnson is executive vice
vice president and cashier, in charge joined in 1976 as secretary to the
of investments and operations. He president, and is a graduate of the president of Jewel Companies, Inc.,
University of Minnesota with a BS Chicago.
joined Zapp National in 1974.
Other elections announced in degree in business administration.
Gail Thompson has been ap Mid-City National
clude: Alice Spadafore, assistant
cashier; Elmer Dahl, security and pointed as customer service officer.
purchasing officer; Carol Mick, teller She has been associated with the Relocates Head Office
The Mid-City National Bank of
supervisor; Judy Loehrer, real es Lake Crystal National Bank for 22
Chicago
has relocated its main office
years.
Her
most
recent
position
was
tate loan officer; Marly Gabbert, as
sistant operations officer; Susan that of cashier, which she held since from 801 W. Madison to 303 E.i
Wacker Drive.
Mohs, operations officer; Jean John 1975.
Northwestern Banker, February, 1985

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Federal Reserve Bank of St. Louis

officer of the bank since joining the
organization in 1978.
Howard B. Silverman, formerly
president and chief executive officer,
will continue as chairman of the
bank, but will be devoting a majori
ty of his time to the operation of
First Illinois Corporation, where he
serves as president and CEO.

Three Advanced in Peoria

CSBS Accredits Illinois Department
HE Illinois banking department
T
is the first state banking depart
ment to be accredited by the Confer
ence of State Bank Supervisors as
part of its Accreditation Program.
The Illinois department is headed by
William C. Harris, Commissioner of
Banks and Trust Companies of Illi
nois. The certification testifies that
his department is conforming to the
highest standards of bank supervi
sion and regulation.
At the press conference unveiling
the program, CSBS disclosed that
the state of Iowa also has moved
through several steps in the review
process, while several other states
are in the initial self-evaluation
phases.
In announcing the program, Sid
ney A. Bailey, chairman of the
CSBS Performance Standards Com
mittee and Commissioner of Finan
cial Institutions for the Common
wealth of Virginia, said “the core of
effective duality lies in effective
systems at both state and federal
levels,” which in turn mandates ef
fective state banking departments.
“We believe that this new CSBS
program will demonstrate in the
most concrete fashion that state
banking departments are worthy of
the new responsibilities being placed
on them,” including the new respon
sibilities recommended by Vice
President Bush’s Task Group on
regulatory reform.
That Bush Task Force, as an
nounced in its “Blueprint for Re
form” in 1984, would remove the
FDIC from day-to-day examination
of banks; would form a new Federal
Banking Agency to replace the
Comptroller of the Currency, and
the FBA then would examine all na
tional banks, and would supervise
each parent holding company in
which the “lead” bank is a national
bank. The Federal Reserve would
govern the nation’s 50 largest banks
and holding companies, as well as

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Federal Reserve Bank of St. Louis

state-chartered banks. The FDIC
would examine all troubled banks
jointly with the primary supervisor.
Supervision of state banks then
would be left by the Fed to indivi
dual state banking departments
which are accredited by this CSBS
certification program.
The Accreditation Program, Mr.
Bailey states, involves a comprehen
sive review of the critical elements
which assure a banking depart
ment’s ability to discharge its re
sponsibilities through investigation
of a department’s administration,
finances, personnel policies and
practices, training programs, exami
nation and supervisory procedures
and statutory powers. The process
involves several steps:
First, a state banking department
undergoes a self-evaluation based on
criteria established by the CSBS
Performance Standards Committee.
Second, at the department’s re
quest, an Accreditaion Review team
appointed by the Performance Stan
dards Committee conducts a thor
ough on-site examination of the de
partment and reports its findings to
the Committee.
Third, those findings are reviewed
thoroughly by an Audit group to as
sure a high level of discipline in each
review, a consistency of discipline
between reviews and compliance
with standards and procedures re
quired by the PSC.
Finally, if both groups report
positively, the PSC recommends to
the CSBS board of directors that a
certificate of accreditation be issued.

The Commercial National Bank,
Peoria, board of directors has an
nounced the elec
tion of Brock L.
Hessing, R. Jef
frey Smith and
Douglas S. Ste
wart to positions
of senior vice
president, effec
tive January 1.
Mr. Hessing,
47, is responsible
B.L. HESSING
for the commer-

R.J. SMITH

D.S. STEWART

cial division, which includes the
metropolitan, correspondent bank,
small business, loan recovery, loan
review and dealer finance depart
ments.
Mr. Smith, 35, is responsible for
the retail division, which includes
the executive and professional, real
estate, personal banking, charge
card and customer service depart
ments.
Mr. Stewart, 33, will now become
responsible for the trust division,
which includes the trust and farm
departments. He is succeeding
Bruce F. Snyder, who has been pro
moted to executive vice president.
As also announced last month,
Robert T. Stevenson, Jr., became
president on January 1.
The changes in senior manage
Evanston President Named
ment assignments will enable David
Bruce I. McPhee, 40, has been E. Connor, chairman and CEO, to
promoted to president and chief ex devote more time to overseeing Mid
ecutive officer of First Illinois Bank west Financial Group, Inc., the bank
of Evanston.
holding company owner of Commer
Mr. McPee is a graduate of Drake cial National Bank which Mr. Con
University and holds an MBA from nor also leads.
Loyola University. He has been an
Hayne Ellis, III will succeed SteNorthwestern Banker, February, 1985

30
Illinois News
wart as deputy trust division head.
Mr. Hessing joined the bank in the
commercial loan department and
was elected vice president in 1973.
He was named to head the Illinois
department in 1975 and the commer
cial banking division in 1983. A na
tive Peorian, Mr. Hessing is a gradu
ate of the University of Missouri
and was with the Iowa Des Moines
National Bank for ten years before
returning to Peoria.
Mr. Smith is a 1971 Honors Grad
uate of Purdue University and re
ceived an MBA from Northwestern
University in 1973. He was named
commercial banking officer in 1975
and became head of the executive
and professional department in
1976. He was elected a vice presi
dent in 1980 and named head of the
retail banking division last year.
Mr. Stewart is an Honors Gradu
ate of Illinois Wesleyn University
and received an MBA from Bradley
University in 1979. He is also a
graduate of the National Graduate
Trust School at Northwestern Uni
versity and presently serves on its
faculty.
Joining the bank in 1973, Mr. Ste
wart was named trust administrator
in 1975 and trust officer in 1976. He
was elected vice president in 1980
and was named deputy division
head in 1984.

merger of the Monmouth Bank with
First State Bank of Little York. As
a result of the merger which was ef
fective in December, Monmouth
Trust has expanded its marketing
area, while the Little York Banking
Center, is now offering a wider range
of services and products.
Two promotions were recently an
nounced at Monmouth Trust: James
P. Betar to loan officer and Nancy
Grisolano to customer service offi
cer.
Mr. Betar joined the bank in 1984
with an extensive background in len
ding. Ms. Grisolano has been with
the bank since 1983 as marketing
representative.

Karen A. Frankel, 25, has been
named a vice president of Cole-Taylor Fi n a n c i a l
Group.
Ms. Frankel
has a BS degree
from I n d i a n a
University and
an MBA from
Loyola Univer
sity of Chicago.
She will con
tinue her duties
K.A. FRANKEL
as director of
marketing for Cole-Taylor and its
five community banks.

Commercial Credit Conf.— Feb. 20-21
HE ILLINOIS Bankers Associa
T
tion Commercial Credit Confer
ence, slated for February 20-21, will

be held at the Holiday Inn East in
Springfield. Expanding Products
and Services is the theme for this
year’s conference which will offer a
varity of speakers and workshops.
Ralph Egeland, Aurora National
Bank, serves as chairman of the
commercial credit committee and
has announced the following agen
da:
Wednesday, February 20
A.M.
8:00 Registration.
Roscoe President Elected
9:00 First General Session.
“The Illinois Economy”—
Dale L. Blachford was elected
The Honorable Roland Bur
president and chief executive officer
ris, Comptroller of the State
of First Bank of
of Illinois, Springfield.
Roscoe on Janu
9:45 “ Specialized L ending’’—
ary 7.
John Curtis, vice president,
Mr. Blachford
First Chicago Credit Corp.,
holds a BS de
Chicago.
gree from Illi
10:30 Break.
nois State Uni
10:45 “Think Client, Not Custo
versity at Nor
mer”—Robert D. Dye, se
mal and began
nior vice president, Finan
his banking ca
cial Shares Corporation, Chi
reer in 1976 as a D.L. BLACHFORD
cago.
management
trainee at Belvidere National Bank. 11:30 Reception, Holidome.
He joined First Community Na P.M.
tional Bank of Rockford in 1979 and 12:00 Luncheon, Holidome.
Remarks: James E. Forster,
after several promotions was named
chairman of The DeKalb
vice president/cashier in January,
Bank and ABA president.
1984.
1:15 Concurrent Workshop Ses
sions.
Monmouth Trust Merges
“An Internal Watch List”—
With Little York Bank
John Kolp, Field Office Su
pervisor, FDIC, Jackson
Mark D. Pingrey, president and
ville, and S. Michael Polan
CEO of the Monmouth Trust and
ski, senior vice president,
Savings Bank, has announced the
Northwestern
Banker, February, 1985

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Federal Reserve Bank of St. Louis

Cole-Taylor V.P. Named

2:30
2:45
5:00
6:00

Loan administration, Pio
neer Bank & Trust Co., Chi
cago.
“Structuring a Credit De
partment & Credit File”—
Melvin H. Buser, vice presi
dent, commercial lending de
partment, American Na
tional Bank & Trust Co.,
Rockford.
“Structuring a Small Busi
ness Administration Pack
age”—Richard D. Turner,
senior vice president, South
Shore Bank, Chicago.
Break.
Concurrent workshops re
peated.
Complimentary reception.
Banquet.
“ Sports, Family & Reli
gion”—Pat McCaskey, dir
ector of community involve
ment, Chicago Bears.
Thursday, February 21

A.M.
9:00 “ Trends in Commercial
Lending”—James J. Carmody, president, Drovers
Bank of Chicago.
9:45 “Public and Private Lend
ing Partnerships”—Thomas
J. Ticknor, manager, divi
sion of business finance, Illi
nois Dept, of Commerce and
Community Affairs.
10:30 Break.
10:45 “Legal Aspects of Loan
Workouts: A Banker’s View
point”—Robert H. Behrens,
vice president and senior
loan officer, The Commercial
Bank of Champaign.
11:30 Adjourn.
□

Illinois News

Co., Rockford,
as senior vice
president
in
charge of opera
tions and finan
Joseph H. Martin, assistant vice cial division, and
president and trust officer of Drov Melvin Buser
ers Bank of Chicago, retired Decem and Ke n n e t h
ber 21 from the bank.
Edge have been
Mr. Martin, a professional banker na me d
vice
with 48 years of financial experi presidents.
ence, joined Drovers Bank in 1937
Edward Belas a messenger.
* * *

13th largest U.S. commercial bank,
with headquarters in New York City
and Buffalo.
* * *

The Mid-City National Bank of
Chicago has announced six promo
tions, according to President Ken
neth A. Skopec.
John M. Blackburn has been
elected assistant vice president. He
previously served as administrative
services officer.
Brian J. Griffin, who joined the
bank in 1981, has been elected assis
tant vice president. He was pro
moted to assistant cashier in 1982.
William F. McCarty III also has
been elected assistant vice presi
dent. He joined the bank in 1982 and
was promoted to assistant cashier in
1984.
In addition, D.A. McGraw has
been elected assistant cashier and
new account officer; Joseph R. Gotfryd, assistant cashier, and David E.
Greiwe, assistant cashier and assis
tant comptroller.
* * *

Lee M. Mitchell, president and
CEO of the Field Corporation, was
recently elected to the board of
directors of National Boulevard
Bank, Chicago, announced Bank
President Richard T. Schroeder.
* * *
Joseph E. Hasten has joined Stan
dard Chartered Bank as senior vice
p re sid en t and
manager of the
Chicago office.
Mr. Hast en
holds a bachelor
of arts degree
from Fairfield
University and a
master of man
agement degree
from Northwest
ern University.
JE- HASTEN

Lynn Feiger has been elected ex
ecutive vice president of Affiliated
Asset-Based Lending Services, Inc.,
a division of the Affiliated Bank
Group. Ms. Feiger formerly was vice
president of Affiliated Asset-Based
Lending Services.
In addition, David Augustyn was
UnibancTrust Company, a subsi elected vice president and trust offi
diary of Unibancorp, Inc., announced cer, and Dennis Motyka was named
last month that it has signed a defi vice president, Western National
nitive agreement to sell its asset- Bank, Cicero, one of the five member
based lending business to Marine banks of the Affiliated Group.
Midland Bank, N.A. of New York.
Mr. Augustyn joined Western Na
The transaction is subject to regula tional in 1981 as a trust officer after
tory approval and is expected to be serving in trust operations at North
completed in early 1985. Financial ern Trust and First National Bank
terms were not announced.
of Skokie.
Under terms of the agreement,
Mr. Motyka began his career in
UnibancTrust will sell approximate 1972 at Western National as a man
ly $60 million of asset-based loans to agement trainee.
Marine for cash. The asset-based
* * *
lending operation will remain in Chi
cago under its current management.
UnibancTrust Company, with of Rockford Addition,
fices in Sears Tower, is the tenth Advancements Announced
largest commercial bank in Chicago.
Frank C. Rubinic has joined
Marine Midland Bank, N.A. is the American National Bank and Trust

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Federal Reserve Bank of St. Louis

F.C. RUBINIC

M.BUSER

K. EDGE

E. BELKEN

E. BUHRMAN

J. HODGES

W. FOOTE

ken, with the bank for 19 years, has
been named assistant vice president
for instalment loans, and Edward
Buhrman, Joseph Hodges and Wil
liam Foote have been promoted to
assistant cashiers.
Mr. Rubinic, who had been serv
ing as president and CEO for First
National Bank of Wheeling, suc
ceeds Roger A. Reese, named vice
president - finance and treasurer of
Americorp Financial, Inc., the
bank’s holding company.
Mr. Buser, who had been serving
in a similar position at First of
America Bank, Battle Creek, Mich.,
ILLINOIS NEWS...
(Turn to page 28, please)
Northwestern Banker, February, 1985

Group 1 Meeting Set for St. Paul
HE 81ST ANNUAL Meeting of
T
Group 1 of the Wisconsin Bank
ers Association will be held Febru
ary 15-16 at the Radisson Hotel, St.
Paul, Minnesota. Registration for
the meeting will be from 3:00 to 8:00
p.m. on Friday, February 15, and
from 7:30 a.m. to 12:30 p.m. on
Saturday.
Glen D. Johnson, president of
First Bank of Grantsburg, has served
as group 1 president this past year.
He has been assisted by Vice Presi
dent Arne P. Stovring, executive
vice president, Shell Lake State
Bank, and Secretary-Treasurer John
T. Midthun, executive vice presi
dent, Northern State Bank, Ash
land. Past President is Kenneth A.
Heiser, president, First National
Bank, Hudson.
Friday evening there will be a gettogether at The Garden Court of the
Radisson Hotel from 9:00 to 12:30,
featuring entertainment by “The
Cat’s Pajamas.’’
Saturday morning breakfast will
be from 8:00 to 9:15 a.m. in the Gar
den Court, courtesy of: First Wis
consin national Banks in Milwaukee
and Eau Claire. Saturday’s lun
cheon, also held in the Garden Court
will be at 12:45 p.m. and feature
speaker Mike McKinley whose talk
is entitled, “Staying Alive - Wait
Until You’re Dead Before You Die.”
A reception will be held that evening
from 5:30 to 6:45 p.m. in the Garden
Court, followed by a banquet at 7:00
in the Minnesota Ballroom. Glen D.
Johnson, group 1 president, will pre
side. Entertainment will be provided
by “The Swinging Ambassadors.”
The program for Saturday’s busi
ness session follows:
A.M.
9:30 Business meeting.
Presiding, Glen D. Johnson,
group 1 president.
Secretary-treasurer’s report,
John T. Midthun.
Northwestern
Banker, February, 1985

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Federal Reserve Bank of St. Louis

9:45

10:00

10:20

10:35
10:45
11:00

11:20

11:45

Nominating committee re
port, Duaine C. Espegard,
chairman.
John (Jack) W. Johnson,
president of Bank of Spring
Green and president, Wis
consin Bankers Association.
Bryan Koontz, WBA execu
tive director.
Kim Kindschi, WBA associ
ate director-education.
“ W i s b a n k p a c ” —Su s a n
Linch, WBA deputy director.
Coffee.
“Perspectives on 1985-86
Legislature” —Richard A.
Shoemaker, Wisconsin State
Representative.
“Strategic Planning”— Ro
bert E. Miller, partner, McGladrey, Hendrickson & Pul
len.
“Problem Loan Workouts”—
John Yilec, attorney, Doher
ty, Rumble and Butler.
f

John A. Hennessy was elected presi
dent and chief executive officer.
Both actions became effective Janu
ary 2, 1985.
Mr. Blythin is a native of Ohio
and has been with Valley Bancorporation for the past nine years, serv
ing in the capacity of president and
CEO for Valley Bank of Shawano.
Mr. Hennessy is a native of Su
perior, and has been with the organi
zation for 20 years. This summer he
transferred to the Valley Bank of
Shawano as executive vice presi
dent. Prior to being named to the po
sition, he served as president of Val
ley Northern Bank, Appleton.

Ellsworth CEO Retires
Gerald L. Bryan has retired as
chief executive officer of Pierce
County Bank &
Trust Company,
Ellsw orth. He
will continue as
chairman of the
board and con
tinue to serve on
various committies.
He is s u c
ceeded by Ken
G.L. BRYAN
n e t h Palmersheim, president of Pierce County
Bank & Trust.
Mr. Bryan joined the bank in
1967 as executive vice president and
prior to that time served at the
State Bank of Anoka, Minn., for 25
years.

Affiliation Announced
J.A. Puelicher, chairman of Mar
shall & Ilsley Corporation announced
last month that Bay View State
Bank, Milwaukee, has agreed to affi
liate with M&I.
Bay View State Bank has total as
sets of $57,798,000 and total depos
its of $48,811,000 at September 30,
1984.
The transaction is subject to regu
latory approval and approval of
shareholders of Bay View State
Bank.

La Crosse V.P. Named

Robert W. Burg has joined the
Norwest Bank La Crosse, N.A. as a
vice president of
loan administra
tion.
Mr. Burg is a
1973 graduate of
Marquette Uni
versity with a
ba chel or
of
science degree in
economics. In
1976 he received
R.W. BURG
Valley Bank of Shawano
a juris doctorate
Elects Chairman & President degree from Marquette University
At the December meeting of the Law School. He has been in private
Valley Bank of Shawano’s board of law practice since that time and has
directors, William Blythin was been legal counsel for the bank since
elected chairman of the board and 1978.

•

^
w

•

Marine to Acquire Firstar
And Independence Groups
Marine Corp., the state’s third
largest bank holding company, has
taken action to acquire two separate
holding companies.
At a meeting held in December,
shareholders of Waukesha-based In
dependence Bank Group, Inc., approved the sale of the corporation to
Marine Corp.
An agreement in principle has
been reached, whereby Marine Corp
would acquire Firstar Corp., an Appleton-based bank holding company,
for approximately $27.6 million.
Shareholders of the Independence
Group voted by more than a twothirds majority to accept the merger
offer, under which Marine will pay
more than $23 million in cash for
43% or about 700,000 shares of In
dependence stock, with the remaining 850,000 shares to be converted
to Marine shares at a dividend of
more than $3 a share.
Independence Bank President
Donald G. Hayes stated after the
vote that the four Waukesha County
Independence banks would be folded
into Marine Bank West, located at
Brookfield. Independence Bank
Wauwatosa will be merged into the
Marine Bank, N.A., which is Ma
rine’s main bank in downtown Mil
waukee. Independence Bank Madi
son will be merged into Marine Bank
Dane County, and Independence
Banks of Elkhorn and Kenosha will
probably remain free standing
banks.
Also, Independence’s wholly
owned mortgage company and trust
company, both located in New Ber
lin, will be merged into Marine’s
wholly owned mortgage and trust
companies.
According to Mr. Hayes, all Independence bank employees would be
retained following the merger.
The agreement between Marine
Corp and Firstar calls for sharehold
ers of Firstar to receive either $28
cash for each of 197,360 Firstar
shares of 1.167 shares of Marine
common stock for each of the re
maining 789,438 Firstar shares. The
agreement in principle is subject to
the negotiation of a definitive agree
ment, approval of Firstar sharehold
ers and regulatory approval.
The agreement has been approved
by both firms’ board of directors.
George Slater, chairman, CEO and
president of Marine, predicted that,

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Federal Reserve Bank of St. Louis

among other things, Marine Na
tional Bank of Neenah would pro
bably become a branch of the Firstar
bank in Appleton and that if past
policy were followed, the Marine
name would simply be added to each
Firstar bank.

Acquisition Completed
First Interstate Corporation of
Wisconsin has announced comple
tion of the acquisition of the Gottsacker Insurance Agency by First
Interstate Bank, headquartered in
Sheboygan.
The Gottsacker firm, now a
wholly-owned subsidiary of the
bank, will continue to operate as an
independent agency, specializing in
property and casualty as well as
health and life insurance. The agen
cy is located in Sheboygan, with of
fices in Plymouth, Sheboygan Falls
and Manitowoc.

WBA Coordinator Selected
To Chair HERO Board
Donna Ray, assistant meetings
coordinator at the Wisconsin Bank
ers Association
has been elected
to serve as chair
of the Home Eco
nomics Related
O c c u p a tio n s
(HERO)
ad
visory board for
th e M ad iso n
M e tr o p o lita n
School District.
D. RAY
Ms. Ray has
served on the HERO advisory board
since 1982.
A graduate of LaFollette High
School Madison, she received the
outstanding HERO graduate of the
year award from MMSD in 1979 and
helped organize the national HERO
program for LaFollette.

Wisconsin News
33
the selection of Phyllis J. Weege,
secretary/treasurer of Wisconsin
Graphics Corp. located in Okauchee,
to the Bank Advisory Council of
Oconomowoc. The council is com
posed of business and civic leaders
of the area and functions as advisors
to the bank’s board of directors and
to the bank management.
Richard P. Klug, president and
CEO of F&M Bank, along with
Howard C. Wurst, chairman, recent
ly presented service award pins to
the following employees:
Geraldine E. Klinkert, accounts
officer, 25 years; Paul E. Schmidt,
vice president, personal banking
manager, Sussex office, Judith A.
Weber, commercial services officer,
and Mariann R. Hauser, loan review
analyst, 15 years; Eunice R. Reid,
human resources assistant, Merry
K. Riemer, new accounts representa
tive, and Kim L. Reilly, teller
trainer, 10 years; Sharon E. John
son, customer records supervisor,
Ruth A. Launer, programmer, data
processing division, and Sandy L.
Gasper, new accounts represen
tative, Oconomowoc office, 5 years.

Director Elected
Raymond J. Esser has been
elected to the board of directors of
F&M Financial Services Corpora
tion, Menomonee Falls.
Mr. Esser is chairman and trea
surer of Universal Circuits, Inc. and
chairman and president of Dielectric
Corporation.

Rhinelander Name Change
First National Bank of Rhine
lander has officially changed its
name to Valley First National Bank
of Rhinelander, according to a recent
announcement.

Send Us Your News
F&M Bank Menomonee Falls
Addition Announced
Don M. Edwardsen has joined
F&M Bank Menomonee Falls as in
ternal operations officer. He pre
viously was with the Teutonia-Capi
tol Branch of First Wisconsin Na
tional Bank, Milwaukee.
Also announced at the bank was

Please send us news of
any promotions, elections
or changes in personnel,
following your bank’s an
nual meeting.
N o rthw estern B anker
306 ■ 15th st.
Des Moines, IA 50309

Northwestern Banker, February, 1985

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services industry, the competi
tion just keeps getting tougher.
From the smaller independent
institution to the large hold
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tivity and profitability are
crucial to your success.
Enter TransAction Systems,
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Federal Reserve Bank of St. Louis

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the market today, tailored spe
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individual needs.
TSI provides the systems.
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data on-line, you make the
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employee training: in-house forîal instruction as well as on-going
training and user workshops.
And, through TSI’s affilia
tion with the First Interstate
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TransAction
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Federal Reserve Bank of St. Louis

SDBA Bank Management Conf.-Feb. 21
HE South Dakota Bankers As
T
sociation 1985 Bank Manage
ment Conference will be held at the
Holiday Inn, Mitchell, February 21.
Registration and continental break
fast will start at 7:30 a.m. At 8:00,
B. Michael Broderick, Jr., bank
management committee chairman,
SDBA vice president, and president,
First American Bank, Canton, will
call the meeting to order, followed
by a Legislative Update by SDBA
Executive Vice President J.I. Milton Schwartz.
The bulk of the day consists of
four concurrent sessions, repeated
during the rest of the day. Atten
dees will be able to attend three of
the four workshops. They are:
“Bankruptcy: Chapter 11 ,” of
fered by Vance Goldammer, attor
ney at law, Boyce, Murphy, McDow
ell and Greenfield in Sioux Falls;
“Asset-Liability Management,”
offered by Mark Bennett, vice presi
dent, Financial Education and De
velopment, Madison, Wisconsin;
“Personnel Management, Self Im
provement and Goal Setting and
Stress Management,” presented by
Phil Sorentino, financial analyst,
sales trainer and manager, business
consultant, and founder of an invest
ment company that traded only in
bank stocks, Columbus, Ohio;
“Current Issues and Emerging
Trends in Bank Supervision,” a
panel consisting of Melvin L. Burstein, Federal Reserve Bank of Min
neapolis; David Peat, FDIC, and
James J. Gartner, Office of the
Comptroller of the Currency,
Minneapolis Field Office.

ployed as a financial planning con
sultant for Northern Iowa with the
Federal Land Bank of Omaha.

Elected at Western Bank
Western Bank, Sioux Falls, re
cently announced the election of G.
Kathy Anderson
as adm inistra
tive officer. She
will be located at
the c o rp o rate
headquarters of
the bank, down
town office.
A staff mem
ber since 1972,
her most recent
appointment was
G.K. ANDERSON
as corporate administrative assis
tant.

First Bank Names President
Of Northeastern Division

The board of directors of First
Bank of South Dakota, N.A. has
elected Gary L.
Scofield presi
d e n t of th e
b a n k ’s n o rth
eastern division.
The northeast
ern division is
c o m p rised of
First Banks in
Aberdeen, Redfield and Clark.
G.L. SCOFIELD
Mr. Scofield
joined First Bank System, Inc., in
1973 as an agricultural loan officer
at First Bank Huron. A year later,
he moved to First Bank Aberdeen.
Elected in Huron
Mr. Scofield transferred to the par
David Karl Kessinger has been ent company, First Bank System,
elected trust officer of Farmers & Inc. in Minneapolis, in 1976 and
Merchants Bank, Huron, according served as liaison credit officer in the
credit review division. In 1979 he
to Bruce L. Odson, president.
Mr. Kessinger previously was em was named president of First Bank

Northwestern
Banker, February, 1985

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

Park River, North Dakota, and later #
assumed the position of chief execu
tive officer and chief operating of
ficer.
Mr. Scofield joined First Bank of
South Dakota in April of 1981 as •
vice president and manager of the
main office in Sioux Falls. He was
promoted to senior vice president
and head of the commercial lending
division in 1982, and was elected •
president and chief operating officer
of First Bank Aberdeen earlier this
year.

Armour Bank Changes Hands
New Officers Elected
On November 8, First State Bank
of Armour was sold by the Winter
family to Lauren Lewis of Sioux
Falls and his two sons, Allen Lewis
of Yankton and Paul Lewis of Palm
Desert, California. Lauren Lewis
serves as chairman of the bank and
Allen Lewis as vice chairman.
Newly-elected officers of the bank
include: LeRoy Hofer, president and
chief executive officer; Gerald M.
Wenzel, vice president second officer of the bank and manager of the
Delmont Branch; Jerry Altenburg,
assistant vice president, cashier and
assistant manager of the Armour
Bank, and Merlin Goehring, assistant cashier and assistant manager
of the Delmont Branch.
Mr. Hofer joined the bank in 1979
and since 1981 has served as execu
tive vice president and CEO. Prior
to that time he served 15 years at a
bank in Hot Springs and six years in
Rapid City.
Mr. Wenzel joined the Delmont
Branch in 1966. Mr. Altenburg joined
the bank in 1976. Mr. Goehring
previously was with Beneficial Fi
nance Co. for four years.
Directors of First State Bank are:
Lauren Lewis, Allen Lewis, Paul
Lewis, LeRoy Hofer, Gerald M.
Wenzel and Jerry Altenburg.

Senior V.P. Joins
Norwest Bank South Dakota
Hurley Wilson has joined Nor
west Bank South Dakota, N.A. as a
senior vice-president in credit ad
ministration. Mr. Wilson’s duties
will include credit administration,
the development of loan officers and
support to the overall Region VI
credit function.
Mr. Wilson initially was em-

•

South Dakota News

ployed by Norwest Corporation in
1955 in Malta, Montana. In 1963 he
transferred to Norwest’s Rapid City
affiliate and in 1965 he relocated to
Hot Springs. He became branch
manager there in 1969 and served in
that capacity until 1976 when he
moved back to Rapid City as the se
nior vice president of branch admin
istration. Mr. Wilson left Norwest
Corporation in 1980 and was elected
president of The United National
Bank in Sioux Falls. He remained in
that capacity until December 1,
1984. Mr. Wilson will be officed in
Sioux Falls at the downtown loca
tion of Norwest Bank South Dakota.

Minneapolis in 1969. In 1970 he
moved to Norwest Bank South Da
kota, Rapid City. In 1977 he was
named assistant manager of the
Robbinsdale Branch and in 1978
was named manager of the North
Branch. In 1980 he returned to the
Rapid City Brnach where he served
as senior vice president and branch
administrator.

First Bank of South
Dakota Officers Elected

The board of directors of First
Bank of South Dakota, N.A., has
elected John B.
Tibbetts senior
credit
officer of
Branch Managers Named At
the bank.
Norwest Bank South Dakota
Mr. Tibbetts
C.P. “Buck” Moore, chairman joined the Office
and CEO of Norwest Bank South of the Comptrol
Dskota, N.A., has announced the ap ler of the Curren
pointment of branch managers for cy as an assis
the bank’s locations at Aberdeen, ta n t n a tio n a l
Rapid City and Sioux Falls.
bank examiner
J.B. TIBBETTS
Terry Baloun, senior vice presi in B ism arck ,
dent and ag business district man
ager, will serve as manager of the
Aberdeen branch.
Sid Bostic, manager of the Finan
cial Institutions Group and commer
cial middle market business for Norwest’s Region VI, has been named
manager of the Sioux Falls Branch.
Kirk Dean, senior vice president
and district manager of retail busi
ness will serve as the branch man
J. LORENZEN
J. DUNLEAVY
ager at Rapid City.
According to Mr. Moore, the man
agers will coordinate the branch and
community activities of the bank’s
district business managers, monitor
the delivery of products and services
in the marketplace and coordinate
ar d make final decisions on commu
nity activities.
Mr. Baloun joined Norwest Bank
South Dakota, Aberdeen at the Gro
ton Branch in 1974. He was elected
senior vice president and Downtown
M. MAC KAY
K. WILLERT
B:*anch manager at Aberdeen in
1982, and in 1983 became senior vice North Dakota, in 1966. He trans
president/Aberdeen Branch admin ferred to Minneapolis in 1968 and
istrator.
was later appointed a national bank
Mr. Bostic has been with Norwest examiner in 1971. In 1980, Mr. Tib
Bank South Dakota since 1964. In betts was promoted to the OCC’s
1980 he moved to Sioux Falls, from Minneapolis Regional Office where
Brookings, as senior vice president he worked in the regional problem
and manager of the Downtown bank section.
Branch and in 1983 he was named
Mr. Tibbetts, a native of Esthermanager of the financial institutions ville, Iowa, is a graduate of Iowa
group for Region VI.
State University and the Herbert
Mr. Dean joined Norwest Bank Prochnow School of Banking in

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Federal Reserve Bank of St. Louis

Madison, Wisconsin.
First Bank of South Dakota has
also announced the promotion of one
officer and election of four officers,
according to an announcement by
David S. Birkeland, president and
CEO.
Judy Lorenzen has been pro
moted to assistant vice president in
Rapid City. Officer elections include
John Dunleavy, vice president and
trust officer, Rapid City Trust Ad
ministration Center; Jerome Fagerland, vice president, Sturgis; Mar
shall MacKay, vice president-opera
tions manager, administrative services-Sioux Falls, and Ken Willert,
agricultural loan officer, Miller.
Ms. Lorenzen joined First Bank
of South Dakota in 1963 in Sioux
Falls. After working briefly for First
Bank Minneapolis, she transferred
to First Bank Rapid City in 1975.
She was elected real estate officer in
1977.
Mr. Dunleavy joins First Bank of
South Dakota from First American
State Bank in Fort Dodge, Iowa
where he has served as vice presi
dent and managing trust officer for
the past two years.
For the past six years, Mr. Fagerland has been employed by Norwest
Bank in Aberdeen/Milbank, serving
most recently as the agricultural
loan department manager.
Mr. MacKay joined First Bank
System in 1973 as regional audit
supervisor for First System Ser
vices. Since 1983, he has been em
ployed as assistant vice president
planning and support, also with
First System Services.
Mr. Willert has been employed as
a loan officer with the Production
Credit Association in northeastern
South Dakota for the past two-anda-half years.

Two Promoted in Pierre
Following the annual meeting of
First National Bank in Pierre, Den
nis Fargen, president, announced
the promotion of William Fuchs to
vice president and cashier and Jen
nie Weingart to vice president.
Mr. Fuchs, a CPA, joined the bank
in December, 1983. He graduated
from the University of South Dako
ta with a BS degree in accounting.
Ms. Weingart joined the bank in
1973 and coordinates the electronic
data processing function.
Northwestern Banker, February, 1985

Minot Promotions and
Additions Announced
First American Bank & Trust of
Minot recently announced several
promotions and additions to the
staff.
Todd Vangsness has been pro
moted to vice president. He joined
the bank in 1977 as ag loan represen
tative and most recently served as
assistant vice president and ag loan
officer.
10th Year for Mid-Winter Break
John T. Scott has been appointed
auditor and compliance officer. His
shall, News Director, KFYR most recent experience includes his
ANK OF North Dakota’s An
Radio & TV, Bismarck.
nual Mid-Winter Break has
position as financial examiner for
9:25 “Understanding Your Own the North Dakota Department of
been planned for February 20-22 at
H um anity” —Janie Jasin, Banking. Prior to that he was with
the Kirkwood Motor Inn, Bismarck.
Minnetonka, Minn.
An extra special program has been
Merchants National Bank of Cedar
planned for this year’s conference in 10:30 Coffee break.
Rapids, Iowa, as compliance officer
honor of its 10th anniversary. In ad 10:50 “Handwriting - The Key To and assistant auditor.
Your Personality”—Patricia
dition to the conference program, a
Christa M. Titus has been pro
McCandless, HuVista Inc.
special program for spouses has also
moted to assistant controller. Ms.
been planned. The main conference P.M.
Titus has been with the bank since
12:15 Lunch.
agenda follows:
1983 and most recently was auditor.
1:15 Call to order.
W. Dan Korgel has been pro
Wednesday, February 20
1:20 “Where’s The Beef”—Lee moted to trust officer. He started in
A.M.
Pitts, Livestock Digest, 1976 as a trust operations supervi
10:30 Registration.
Morro
Bay, Calif.
sor and had been serving as assis
11:45 Call or order.
2:30 “The Ag Bankers Options tant trust officer.
11:50 Welcome - Governor George
For Survival”—Boyd Hop
Ralph I. Schreiner has joined the
Sinner, State of North Dako
kins,
president, Livestock bank’s staff as public relations offi
ta.
State Bank, Mitchell, S.D.
cer. Mr. Schreiner joins the bank
11:55 Adjourn.
3:30 Coffee break.
with 30 years of banking experience.
P.M.
3:50 “The Approach Of The Reg
12:00 Lunch.
ulators In This Time Of
1:15 Call to order—R.E. “Bob”
S tr e s s ” —M arilyn Foss,
Caudel, senior vice presi
Commissioner
of Banking, New President Named At
dent, Bank of North Dakota.
State
of
North
Dakota.
First Bank Grand Forks
1:20 “How To Be Twice As Effec
tive With Half The Work! ”— 4:45 Adjourn.
The board of directors of First
6:00 Attitude adjustment period.
Somers H. White, Phoenix,
Bank
Grand Forks has elected Ar
6:45 Banquet.
Ariz.
nold
L.
Braaten chairman, presi
7:30 E n tertain m e n t by BJC
2:30 Coffee break.
dent,
and
chief executive officer ef
Tuesday Night Jazz Ensem
2:50 “ Political And Economic
fective
February
1. Mr. Braaten suc
ble with bassist Larry Rid
Realities Of The 1983 Farm
ceeds
Francis
M.
Schreder, who will
ley and pianist Jaki Byard.
Bill”—Kenneth R. Farrell,
retire
June
30,
1985.
Mr. Schreder
Floor Show by Big Sky
Washington, D.C.
will continue to serve as a director of
M
udflaps
of
M
issoula,
4:05 Adjourn.
the bank until then. Besides his new
Mont.
6:00 Attitude adjustment period.
responsibilities with First Bank
Entertainment by: German
Grand Forks, Mr. Braaten was ap
Friday, February 22,
Whoopee Band, Bismarck A.M.
pointed division director for First
Junior College.
Bank System’s northern North Da
8:15 Buffet breakfast.
Dinner on your own.
kota region and will assume Mr.
9:00 Call to order.
Have your handwriting ana
9:05 News Of The Day And Com Schreder’s responsibilities for the
lyzed, what personal traits
coordination of the First Banks in
ments.
are revealed by your pen
9:25 “You Can’t Lead A Cavalry Cando, Cavalier, Grand Forks,
m a n s h i p ? —P a t r i c i a
Charge If You Think You Langdon, Park River and Rolla, and
McCandless, Hu Vista, Inc.,
Look Funny Sitting On A East Grand Forks, Minnesota. Mr.
Louisville, Ky.
H o rse !” —J.N . “ C h ris ” Braaten currently serves as presi
Christianson, Idea Moun dent of First Bank Minot. His suc
Thursday, February 21
cessor at that bank will be an
tain Inc., Scottsdale, Ariz.
A.M.
nounced at a later date.
11:45
Closing
remarks
and
ad
8:15 Continental breakfast.
Also effective February 1, Donald
journ, —Ruben Sailer, senior
9:00 Call to order.
vice president, Bank of R. Mengedoth, who has served as
9:05 “News Of The Day And
North Dakota.
□ managing director for First Bank
C om m ents” —M ary M ar

Northwestern Banker, February, 1985

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Federal Reserve Bank of St. Louis

Bank of North Dakota
S T A T E M E N T OF C O N D IT IO N
December 31, 1984

RESOURCES
Cash and Due from Bank.........................
U.S. Government Securities.....................
Federal Agencies Securities...................
Bankers Acceptances and
Other Investments..............................
State and Municipal Securities...............
Federal Funds S o ld ................................

LIABILITIES
Demand Deposits:
Individuals, Partnerships
and Corporations.....................
Now Accounts - Individuals
Now Accounts - Public •
Deposit of Banks
! T/T:
State and Political Subdivisions
Official Checks, etc. ...

$ 55,948,813.60
160,028,034.29
63,511,309.77
3,152,004.54
8,897,717.56
262,355,000.00

'¡me and Savings Deposits:
Individu; s, Partnerships
and Coirporations
State and
Subdivisons
Loans
FmHA Business & Industry Guaranty .
FmHA Housing Guaran
FHA and Gl Home Loans
Farm R.E. Loads
R.E. Contracts .
Loans to State Institutions
Bank Stock Loans....... 7j.
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 C osts...............
Other Assets ..........................................
TOTAL RESOURCES..............................

TAL DEPOSITS............... 771 ..
Fds. urch. & Sec. Sold
nder A jreement to Repurchase
ued Interest Payable.............
r Liabilities*.............................
Term 0ebt— Mtg. Bonds
Reserves....... ................................
Capital . .

' fifK
8,298,556.39
1,360,950.16
225,678.90
1,276,323.05
$835,200,298.46

$ 5,577,949.92
. 1,179,758.23
. 12,625,489.84
. 38,959,011.65
. 53,749,811.41
. 1,886,753.91
$113,978,774.96
. 35,576,832.10
. 453,097,453.65
488,674,285.75
602,653,060.71
133,145,000.00
3,620,621.38
4.399.305.77
30.108.000.
9.185.592.78
18.000.
000.00

20, 000, 000.00

divided Profits

14,088,717.82
61,274,310.60

TOTAL LIABILITIES,
RESERVE & CAPITAL

$835,200,298.46

The Nation’s Only State Owned Bank
North Dakota Industrial Commission

ankof
orth Dakota

700 EAST MAIN, P.O. BOX 1657
BISMARCK, NORTH DAKOTA 58502

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Federal Reserve Bank of St. Louis

George A. Sinner, Governor
Chairman

Nicholas J. Spaeth, Attorney General
Member

H. Kent Jones, Agriculture Commissioner
Member

H.L. Thorndal, President

Northwestern Banker, February, 1985

North Dakota News
40
System’s nine banking affiliates in
the southern North Dakota region
since 1984, will now serve in that
capacity for all FBS banks in North
Dakota and two in Minnesota, ac
cording to Darrell G. Knudson, vice
chairman of First Bank System’s
regional division.
Mr. Braaten began his banking
career in 1953 at First Bank Grand
Forks. He was elected president of
First Bank Rolla in 1963 and execu
tive vice president of First Bank
Bozeman, Montana, in 1964. He has
served in his current position as
president of First Bank Minot since
1970.
Mr. Mengedoth previously served
as senior vice president of market
ing and operations for First Bank
System’s regional division and has
been associated with the company
since 1977.
Mr. Schreder, who has been asso
ciated with First Bank System for
26 years, began his career at First
Bank Rolla as a loan officer and was
elected president of the bank in
1968. In 1976, he was elected presi
dent and CEO of First Bank Worth
ington, Minnesota, a position he
held until 1980 when he was elected
president of First Bank Grand
Forks. He has served as managing
director for the northern North Da
kota region since 1982 and was
elected chairman of First Bank
Grand Forks in 1983.

NABW State Conference
To Be Held in Minot
The National Association of Bank
Women will hold its annual North
Dakota State Conference at the
Sheraton-Riverside, Minot, on April
24-26. Theme for the 1985 confer
ence is “The Challenge of Change,’’
Barb Fairbanks Eide, Austin,
Texas, will be the primary speaker,
presenting “The Ultimate Profes
sional.” This will include techniques
for personal and professional devel
opment, including communication,
time management and public speak
ing.
Management and directors of
North Dakota banks are invited to
attend this presentation as well as
the entire conference. Bankers desir
ing more information on the confer
ence may contact Gloria Hultberg at
First Bank Minot, 857-0336, or
Carol Shirley at Norwest Bank
Minot, 857-1753.
Northwestern Banker, February, 1985

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Federal Reserve Bank of St. Louis

Ag Lenders to Meet in Mandan
HE 1985 CONFERENCE of the
Upper Midwest Agricultural
Credit Council is scheduled for July
10-12 at the Seven Seas Motel, Mandan, North Dakota. UMACC, a 200member organization, strives to
keep ag bankers from rural commu
nities in the Upper Midwest abreast
of the latest developments in ag
credit and management. Annual
conference sites rotate from state to
state; the 1984 meeting was in Min
nesota.
“Picking and Developing Win
ners: Successful Enterprises, Profit
able Managers, Healthy Banks” is
the theme for the 1985 conference.
Featured sessions will include
“Farm Enterprise Analysis”; “How
Bankers Can Wisely Allocate Cred
it: Helping Farmers Become Win
ners,” and “Analyzing the Current

Changes in Business or Organiza
tion Procedures for Farmers and
Credit Advisors.”
“Mandan, which serves many
ranchers and farmers, is an ideal lo
cation for the conference on ag man
agement,” said Ken Trom, UMACC
president. “ Plans call for a family
picnic and barbecue, plus tours of
the USD A Grasslands Research
Station-Mandan and Milton R.
Young Coal Generated Power Plant.
The combination of tours, a timely
and informative program, and tour
ist attractions in and around Mandan will make the 1985 convention a
‘m ust’ for ag lenders in the Upper
Midwest.
Persons interested in attending
the conference may contact UMACC
Treasurer Lowell Anderson at (701)
547-3191.

Bank of North Dakota
Promotes Seven
At the Bank of North Dakota,
Bismarck, Gary Bauer has been pro
moted to assis
ta n t counsel;
M ary W iegel
Davison to legal
assistant; Karen
Eisenbeis to as
s ista n t opera
tio n s o fficer;
Betty Becker to
assistant cash
ier, and Julie
G. BAUER
Kubisiak, Kathy

M.W. DAVISON

K. KNUDSON

T. MOSZER

Knudson and Tanya Moszer to loan
officers in student loans.
Mr. Bauer joined the bank in 1981
and was promoted to attorney II in
the legal department in 1983.
Ms. Davison joined in 1979 and
has since worked in the investment
and trust, commercial and corres
pondent and legal departments.
Ms. Eisenbeis joined in 1974 and
has been working in the operations
department.
Ms. Becker joined in 1978 and
most recently was a teller III.
Ms. Kubisiak, Ms. Knudson and
Ms. Moszer all joined the bank in
1979.

Send Us Your News
Please send us news of
any promotions, elections
or changes in personnel,
following your bank’s an
nual meeting.
N o rthw estern B anker

B. BECKER

J. KUBISIAK

306 - 15th st.
Des Moines, IA 50309

41
vice, according to Earl Johnson,
president.
Ms. Benden joined the bank in
1970 and has held her most recent
position since 1982.

Promoted in Glasgow

Three Advanced in Billings
First Interstate Bank of Billings
recently announced the promotion
and election of three assistant vice
presidents: John H. Evans, sales
and marketing; Helen Robinson, es
crow, and Keith D. Cook, commer
cial loans.
Prior to joining the bank in 1984,
Mr. Evans was district manager for
F.W. Woolworth Company in the
Billings area.
Ms. Robinson joined the bank in
1964 and has served in the escrow
department since 1977.
Prior to joining First Interstate
Bank, Mr. Cook served as an officer
of Montana Bank of Billings and of
Montana Bank of Great Falls. He
also previously was employed by
Burroughs Corporation as an ac
count executive.

Russell Dahl was recently pro
moted to assistant vice president
and cashier of Treasure State Bank,
Glasgow. He has served as cashier
of
the bank since 1981.
Promoted in Helena
Mr. Dahl worked for the Federal
First Bank Helena recently an Reserve Bank in Helena while at
nounced the following promotions: tending college and prior to joining
Jerry Overmier, vice president, the Glasgow bank was with State
cashier and chief administrative of Bank of Dillon.
ficer; Steve Louttit, commercial
loan; John McLaughlin, real estate Fort Benton President Named
loan officer, and Steve Tubbs, instal
Harold A. Brown, senior vice
ment loan officer.
president, First State Bank of Fort
Benton, has been elected president
and managing officer of the bank, ef
fective January 1. He is a graduate
of Montana State University.
Mr. Brown joined the Fort Ben
ton bank in 1972 and has served as
agricultural loan officer, vice presi
dent and second officer.

Richland Promotion Told
Robert J. Goss, president of
Richland National Bank & Trust,
has announced the promotion of
Diane G. Ford to vice president and
cashier.
Ms. Ford has been with Richland
National since 1973, when she joined
as a bookkeeper. Most recently she
served as cashier.

Joins Bozeman Staff
Christopher Reiquam has joined
the staff of First Bank Bozeman as
an agricultural loan officer.
Mr. Reiquam graduated from
Montana State University in 1980
and since that time has been with
Metropolitan Insurance Company,
first in Carrol, Iowa, and later in
Great Falls.

J. MC LAUGHLIN

S. TUBBS

Mr. Overmier joined the bank in
1973 and was elected to his most re
cent post of assistant vice president
of personnel and operations in 1979.
Dates Set in May For
Prior to joining the bank in 1979,
MBA Trust Conference
Mr. Louttit was with the Montana
Early announcement is being State Department of business regu
made for the 1985 Montana Bankers lations as a state bank examiner.
Association 38th Annual Trust Con
Mr. McLaughlin joined the bank
ference and Meeting on May 16 and in 1983 as an adjustor for the con
17. The conference will be held at the sumer finance department, a posi
Colonial Inn in Helena.
tion he has held until present.
Registration will begin on Thurs
Mr. Tubbs also joined as an adjus
day, May 16 at 12:30 p.m. The meet tor in 1979, the position he has held
ing will begin at 1 :00, with social until this time.
hour at 5:15 and dinner at 6:30.
On Friday, May 17, the morning
business session will begin at 8:30 Helena Officer Retires
a.m. and adjourn at noon. More in
Marilyn Brenden, instalment loan
formation and a complete agenda officer at First Bank Helena, retired
will be forthcoming.
December 31 after 14 years of ser
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First Bank Havre
Past President Dies
Gordon F. Clark, 56, died recently
of a heart attack in Elko, Minnesota.
Mr. Clark served as president of
First Bank Havre for seven years
before transferring to Elko in July
of last year to become president of
First Bank Burnsville, Minnesota.

Send Us Your News
Please send us n ew s of
any p ro m o tio n s , e le c tio n s
or c h a n g e s in person n e l,
fo llo w in g y o u r b a n k ’s a n
nual m e e ting .
N

B anker
306 ■15th st.
Des Moines, IA 50309

orthw estern

Northwestern Banker, February, 1985

42
ber, 1984, as assistant vice presi- £
dent. She was employed by IntraWest Bank of Bear Valley as vice
president for 19 years.
Previously employed by United
Bank of Greeley as real estate | |
lender, Ms. Sullivan joined United
Bank of Littleton in December,
1984. She is currently pursuing an
accounting degree at the University
of Northern Colorado.
O

First National, Grand
Junction Elects President
Terrance Farina has been elected
president of First National Bank in
Grand Junction as announced by
George B. McKinley, president and
CEO of Central Bancorporation,
Inc. He will assume the new position
as soon as a successor is named to his
current post as district attorney for
the 21st Judicial District of Colorado.
H. Lee Fetters, Western region
vice president for CBI, had been act
ing as interim president for the
bank.
Mr. Farina has been an active
member of the bank’s board of direc
tors since 1974. He is also a found
ing member of the board of Central
Bancorporation.
Mr. Farina is a practicing attor
ney. He was first elected to the dis
trict attorney post in 1972 and was
successfully re-elected for two suc
ceeding four-year terms.

Elected in Denver
United Banks of Colorado, Inc.,
Denver, has announced the election
of Tucker Hart Adams as vice presi
dent, economics and planning, in the
parent corporation. Ms. Adams will
be responsible for the organization’s
economic analysis and forecasting,
strategic planning and communica
tions.
Ms. Adams joined United Banks
in 1978.

Seven Promoted, One
Appointed in Boulder
The board of directors of First Na
tional Bank in Boulder has announced
the promotion of J. Wayne H ut
chens to executive vice president
and Bruce K. Alexander to senior
vice president and retail services
division head. Also promoted were
John Layman, vice president and
trust officer; Vicki McEvoy, vice

Northwestern Banker February, 1985

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Federal Reserve Bank of St. Louis

president and loan operations man
ager; Lola Hess, assistant vice presi
dent in accounting; Betty Sue Tay
lor, assistant vice president and su
pervisor in the bookkeeping depart
ment, and Joan Tallman to opera
tions officer for the drive-up facility.
In addition, Donatella Scanniello
has been appointed assistant vice
president in commercial lending.
Mr. Hutchens, a graduate of the
University of Colorado, joined First
National in 1980. Prior to that time
he was personnel director of Affili
ated Bankshares.
Mr. Alexander formerly was a
vice president in commercial lending
and joined the staff of First Na
tional in 1977.
Mr. Layman joined the bank in
1982 and prior to that time worked
for First National Bank in Long
mont as senior trust officer.
Ms. McEvoy joined in 1973 from
First National Bank in Grand Junc
tion.
Ms. Hess joined the bank in 1966
and most recently was accounting
officer and accounting operations
supervisor.
Ms. Taylor has been with First
National since 1983, previously
serving at First National Bank in
Colorado Springs.
Ms. Tallman, with the bank since
1975, most recently was drive-up
manager.
Ms. Scaniello has had six years of
banking experience in her previous
position at the Colorado National
Bank in Denver.

Officers Appointed At
United Bank of Littleton
United Bank of Littleton has an
nounced the appointment of Jo
Everett to assistant vice president
and Donna Sullivan to executive
banking officer.
A 25-year banking veteran, Ms.
Everett joined the bank in Decem

Promoted in Boulder
Paul Mangan has been promoted
to assistant vice president of opera- •
tions of Colorado National Bank
-Boulder.
Mr. Mangan joined the bank in
1977 as bookkeeper, most recently
serving as assistant cashier.

Pueblo President Named
United Banks of Colorado, Inc.
has announced that Craig A. Ockers
has been named president and chief
executive of United Bank of Pueblo.
He succeeds Arlo Bemon, who has
retired.
Mr. Ockers joined United Bank in
1981. His most recent position was
as president of United Bank of Aca
demy Place in Colorado Springs,
where he served as that bank’s first
president. Mr. Ockers is a graduate
of the University of Wyoming.

Frontier Bank Appoints One
Richard M. Kuna was recently
named vice president and cashier of
Frontier Bank of Denver. Mr. Kuna
previously was senior vice president
and controller of Dominion National
Bank. Prior to that, he was with
Aurora National Bank as financial
officer and auditor.

Four Officers Promoted At
Cherry Creek National Bank
M. Kent Winker, president and
CEO of Cherry Creek National
Bank, Denver, has announced the
promotion of four officers at the
bank. Edward N. Leachman was
named vice president and controller,
and Edie Edelstein, Carol Jordaens
and Louise Korneffel have all been
advanced to assistant vice presi
dent.
Mr. Leachman joined the bank in
1983 as controller. Prior to that he
was with Central Bank of Chatfield

43
0 and First National Bank of Engle
wood.

Six Promoted At
United Bank of Skyline

Parent Company
Names Vice President
United Banks of Colorado, Inc.,
Denver has announced the election
of Tucker Hart Adams to the posi
tion of vice president, economics and
planning, in the parent corporation.
Ms. Adams will be responsible for
the organization’s economic analy
sis and forecasting, strategic plan
ning and communications.
Ms. Adams joined United Banks
in 1978.

United Bank of Skyline, Denver,
announced recently that Thomas V.
Hornbacher, Oren “ W ade” G.
Moore, III, Taylor M. Owen and Ken
0 Rogers were appointed assistant
vice presidents. Joanne Mace was
named an executive banking officer
and Susan K. Petri was promoted to
a commercial banking officer.
0 Mi*. Hornbacher joined United
Bant s in 1982 as a loan administra Real Estate Developer
tor. As a commercial banker, Mr.
Moore joined United Banks in 1981. Named to Glendale Board
Citizens Bank in Glendale recent
Mr. Owen, commercial banker, joined
0 in 1982. Mr. Rogers, a commercial ly elected John P. Dikeou to the
banker, started with the organiza board of directors.
A native of Denver, Mr. Dikeou
tion in 1981.
graduated from the University of
Colorado in 1959. Mr. Dikeou, who
^ Orchard Mesa Addition Told has been active in real estate devel
Roger L. Schow has joined Colo opment and in bringing major
rado National Bank - Orchard Mesa, league baseball to Denver, is in the
Grand Junction, as marketing offi process of purchasing the Denver
cer.
Bears, which will be operated under
0 Prior to joining the bank, Mr. a new name, The Denver Zephyrs
Schow held key management posi Baseball Club.
Mr. Dikeou owns the land current
tions with Employee Benefit Spe
cialists, Inc. and Blue Cross - Blue ly occupied by the bank and will be
Shield.
developing a multi-story office

building on the site. The bank will
occupy a portion of the first floor.

CBA Awards Grant to
Economic Education Council
The Colorado Council on Econom
ic Education (CCEE), the non-profit,
private association in Colorado
which promotes economic education
in elem entary and secondary
schools, has been awarded a $ 10,000
grant by The Colorado Bankers As
sociation for support and expansion
of current programs.
The CBA made the award on the
basis of the CCEE’s continuing
sponsorship of general economic ed
ucation programs for teachers and
stu d en ts, grades kindergarten
through 12, and for the organiza
tion’s plan to expand the use of
banking curriculum materials. Af
filiated nationally, the CCEE also
offers credits at the college educa
tional level for teacher and educa
tion programs, and provides special
resources for all teachers, including
videotapes, films and teacher
guides. The grant money will be
used to sponsor two one-day semi
nars on money and banking, pro
bably in the Denver and/or Colorado
Springs areas.

Hulett Elections Announced
Hulett National Bank President
James O. Apian has announced the
election of Catherine M. Hattan as
vice president and cashier. Ms. Hattan, who previously was with First
Wyoming Bank, Wheatland, for 19
years, replaces Lynn N. Nash, who
resigned to accept a similar position
in Denver, Colorado.
Also announced was the promo
he will retire July 1, 1985, after a tion of Shirley M. Force to head
Henry Hitch to Retire as
26-year career with the bank. Charles teller and bookkeeper and Beverly I.
President and CEO July 1
E. Pedersen, president and chief ex Deutsch has joined the bank as
Henry A. Hitch, president and ecutive officer of First Interstate bookkeeper and computer operator.
chief executive officer of First Inter Bank of Great Falls, Montana, has
state Bank of Casper, has announced been named to succeed Mr. Hitch as
chief executive officer.
Mr. Pedersen has been president
of First Interstate Bank of Great Two Advanced in Dubois
At Dubois National Bank, Linda
Falls since 1974 and CEO since
1976. He began his banking career Burton, assistant vice president and
at First Interstate Bank of Oregon cashier, has been promoted to vice
president.
in 1948.
At the time of his retirment, Mr.
Also announced was the advance
Hitch will have served as president ment of Bonnie rice from operations
and CEO of First Interstate Bank of officer to assistant vice president
H.A. HITCH
C.E. PEDERSEN
Casper for more than ten years.
and cashier.

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Northwestern Banker February, 1985

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Northwestern Banker, February, 1985

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Federal Reserve Bank of St. Louis

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Schools of Banking Offers
Seven Schools For 1985

Bank President’s Conference-Feb. 20-23
ROVIDING the “Best in Work
P
and Play,” as this year’s theme
^boasts, is indeed what bankers and
thier spouses will experience at the
1985 Nebraska Bankers Association
Bank President’s Conference set for
February 20-23 at the Rancho Ber
n a r d o Inn, San Diego, California.
Some of the optional activities to be
offered are the annual golf tourna
ment and coed tennis tournament;
J;ours of the San Diego Zoo or Sea
^Vorld, and sightseeing and shop
ping in Tijuana.
The following advance program
schedule has been released by Bank
JVIanagement Committee Chairman
^ h u c k Leffler, chairman, Sioux Na
tional Bank, Harrison.
Wednesday, February 20
P.M.
0 7:00 “Welcome to San Diego”—
Opening night reception.
Thursday, February 21
A.M.
8:30 Continental breakfast.
• 9:00 “The Outlook for the (Politi
cal) Economy”—Robert G.
Dederick, executive vice
president and chief econo
mist, The Northern Trust
®
Company, Chicago, 111.
10:15 “Developing Your Bank’s
Image”—Bobbie Gee, Bob
bie Gee Enterprises, Laguna
Niguel Calif.
•P.M .
1:00 Bankers golf tournament.
Coed tennis tournament.
7:00 Awards reception/dinner &
_
cruise. San Diego Harbor
w
Excursion.
Friday, February 22
A.M.
8:30 Continental breakfast.
I 9:00 “How to Avoid Falling Face
Down on the Bottom Line”—
(Banker/spouse) Jim Cathcart, Cathcart Alessandra &
Assoc., Inc., La Jolla, Calif.
►P.M.
1:00 Optional tours bankers/

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Federal Reserve Bank of St. Louis

spouse.
Behind-the-scenes tour at
the San Diego Zoo or Sea
World Aquatic Park.
Saturday, February 23
A.M.
8:30 Continental breakfast.
9:00 “Washington Scene”—The
Honorable Douglas Bereuter, U.S. House of Represen
tatives.
9:45 “Nebraska Update”—Roger
M. Beverage, director of
banking & finance.
10:45 “ ABA View From The
Hill”- Gary W. Fields,
ABA government relations
rep., Washington, D.C.
11:30 Questions and answers.
P.M.
1:00 O ptional to u r bankers/
spouses.
Tijuana sightseeing and
shopping.
6:30 Reception/dinner.
□

North Platte State Bank
Converts Charter
North Platte S^ate Bank recently
converted to a federally-chartered
bank. Effective January 2, th e‘bank
is now known as North Platte NationaL.Bauk, accofdi-ng-t6 Richard
Coleman, president.

Two Promoted in Wilber
Two promotions were recently an
nounced ait Saline State Bank in Wil
ber: David Stubbs to senior vice
president, and A1 Skrabal to vice
president.
Mr. Stubbs, previously vice presi
dent, has been with the bank four
years. Prior to that time he was a
bank examiner.
In addition to continuing to serve
as manager Of Saline State Insur
ance Agency, Inc., Mr. Skrabal’s ex
panded responsibilities include
handling customers’ financial and
investment heeds.

1985 marks the 20th anniversary
for The Schools of Banking, Inc.,
sponsored by the Kansas, Missouri
and Nebraska Banking Associa
tions. The Iowa Trust Department
joins in sponsorship of the Trust
School.
Schools of Banking offers seven
one-week schools open to all employ
ees of member banks of the sponsor
ing banking associations and regula
tory people. Iowa bankers participate
only in the Trust School. The sche
dule of schools offered can be found
under Nebraska in the convention
calendar at the front of this issue.

NBA University Foundation
Awards $78,380 in Grants
The Nebraska Bankers Associa
tion University of Nebraska Foun
dation fund, which consists of con
tributions from banks across the
state, recently awarded grants total
ling $78,380 to the University.
Chaired by Richard Armstrong,
Sr. of the Minden Exchange Bank,
the NBA University Foundation
Allocation Committee recently an
nounced the awarding of the follow
ing grants:
• $6,000 to the University of Neb
raska, Omaha, to purchase a per
sonal computer fully-equipped to
process many banking-related soft
ware packages, a modem to inter
connect with mainframe computer
and software;
• $10,780 to the University of
Nebraska Medical Center to be used
for the purchase of a microcentri
fuge, a “Vibratome tissue sectioning
system,” and a polyamine post col
umn reaction system;
• $61,600 to the University of
Nebraska, Lincoln, to be allocated
among the following: UNL Food
Processing Center for food market
ing program assistance; curriculum
strengthening; agricultural career
counseling series; publication and
revision of Groundwater Atlas of
Nebraska; “Meet the University”
program for the Lincoln campus; ele
mentary school economics program
using microcomputers; and strate
gic planning for banks.
Last year's grant award totalled
$38,950, and this year’s grants
bring the total amount awarded
from the banks’ contribution to the
Foundation to $117,330 for the two
years allocations have been made.
Northwestern Banker, February, 1985

L.A. MAYHAN

J.E. NAHAS

Omaha
before becoming president, director
D.R. POLITANO
M.R. O’MALLEY
and chief executive officer in 1967.
Mr.
Undlin
currently
serves
on
1975 as a senior staff auditor, was
T. Undlin was ■■■■PPIIPIHHM
the board of Norwest Capital Man named an assistant leasing officer in
named president
agement and Trust Company of 1977 and a second vice president in.
and chief execu1 |j i J H
South Dakota; Norwest Bank South 1980. Earlier this year he was*
Dakota, N.A.; Black Hills Power named head of the leasing depart
Norwest Bank
and Light Co.; Homestake Mining ment. Mr Nahas, who joined Omaha
Company and the American Bank National in 1975 as a work measure
fective February
ers’ Association Governing Council. ment analyst, moved to the cornmer-^
He was president in 1977-78 of the cial loan department in 1980. He
South Dakota Bankers Association was named a second vice president
succeeds John
|j |
and most recently was state vice in 1983 and currently is a commer
R. Cochran who
c.T. UNDLIN
president of the American Bankers cial team leader.
has been serving
in a dual role since he became presi Association.
Mr. O’Malley joined the bank’s^l
dent of the corporation’s Region V
estate and trust division in 1974,
in October 1984. Mr. Cochran,
Eric S. Turille has been promoted was promoted to trust officer in
whose principal duties will continue to division head, corporate adminis 1976 and second vice president in
to be as president of Region V, also tration^ divisioji.
1979. He currently is a senior trust
continues as chairman of Norwest
administrator. Mr. Politano, whc^l
Bank Omaha.
\
came to Omaha National’s credit
Mr. Undlin, a former president of
card area in 1974, was named a loan
Norwest Bank Black Hills, N.A. in
officer in 1976 and second vice presi
Rapid City, S.D., currently is one of
dent in 1979. He presently is man
three vice chairmen of Norwest U n iv e rsity of
ager of consumer loans.
j F
Bank South Dakota, N.A. When all Nebraska at LinNamed second vice presidents
^
were Virginia L. Nelson, Gary J.
of Norwest’s South Dakota banks
were consolidated into one bank last bank in Jànuary,
Alice H. Skultety, and James
j J.Rowe,
Conway. Ms. Nelson joined the
year, Mr. Undlin also became busi 1973, as a m a n e s TURILLE
bank in 1966 as a teller and currenti
ness manager of the commercial and agement trainee.
business banking groups through- Having had experience in several ly is section head of securities. Mr.
out Region VI, which includes the bank departments, Mr. Turille’s last Rowe was named assistant manager
state of South Dakota and part of assignment has been in the credit of credit card credit in 1979 and cur
southwestern Minnesota.
card division in charge of opera rently is manager of credit card cred
Mr. Undlin has been with Nor tions.
it and marketing.
west since his graduation from St.
* * *
Olaf College, Northfield, Minn., in
SeveràCofficer appointments have
1950. He began his banking career
at Norwest Bank Maple Grove in been announced by John D. Woods,
Osseo, Minn., served as a credit chairman of the board and chief ex
analyst in the corporate office and ecutive officer of Omaha National
as assistant cashier at Norwest Bank.
Named vice, presidents were Leo
Bank Owatonna (Minnesota).
In 1959, he moved to Rapid City, A. Mayhan, John E. Nahas, Michael
South Dakota, and held various po R. O’Malley and Donald R. Politano.
G.J. ROWE
V.L. NELSON
Mr. Mayhan joined the bank in
sitions at Norwest Bank Black Hills
Corporation an
N ORWEST
nounced last month that Charles

Northwestern
Banker, February, 1985
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Don Ostrand

FredKuehl

Ralph Peterson

Gerry Tomka

Jim Flodine

Tom Jensen

THE
ANSWER
MEN
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 getthe
answers from us, the answer men.

^.1 In n..n I-

TirSl 1101101101 UQIIK
of omaha

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

Member FDIC

Northwestern Banker, February, 1985

Nebraska News

A.H. SKULTETY

J.J. CONWAY

Mr. Skultety joined Omaha Na
tional in 1979 as a trust administra
tor in the estate and trust division
and was named a trust officer in
1981. Mr. Conway, who will manage
new product planning for Omaha
National, formerly was a senior con
sultant for Trinet Corporation, Parsippany, New Jersey.
Other officer appointments in
clude: John M. Carmichael, Patrick
L. Mategrano and Charles E. Polk,
officers: Linda D. King, loan opera
tions; Nancy L. O’Brien, personnel;
Janice A. Panning, operations;
Nancy Pratt, loans; Steve A. Scan
lon, investments; Jerry E. Simmons,
agricultural loans, and Douglas L.
Taylor, auditing.
Other appointments are: Diane S.
Chauche, assistant investment offi
cer; Robert H. Copeland, assistant
systems officer; Kathleen A. Gilstad
and Randolf F. Kassmeier, assistant
officers; David R. Parker and
Thompson H. Rogers, assistant com
mercial banking officers, and Can
dace A. Pedersen, assistant interna
tional officer.

r
Mr. Carmichael came to the bank
in 1979 as a project planning man
ager in the information systems and
payment services department and
currently is manager of the depart
m ent’s information center. Mr.
Mategrano joined Omaha National
in 1969 as a messenger and now is
assistant manager of the bank’s Em
pire Park branch office. Mr. Polk has
been with Omaha National since
1979 and currently is manager of
graphics and distribution.
Ms. King was named a service
representative in loan operations in
1977 and now is supervisor of the
loan service center. Ms. O’Brien
joined the bank in 1981 as manager
of training and development and
currently is manager of employment
and training. Ms. Panning came to
the bank in 1972, was named super
visor of check collections in 1980
and currently is manager of cash
management operations.
Ms. Pratt joined the bank in 1983
and is a junior mortgage banking of
ficer. Mr. Scanlan came to the bank
in 1982 as an investment representa
tive in bond sales. Mr. Simmons
joined Omaha National earlier this
year in its agricultural loan produc
tion office in Garden City, Kansas.
Mr. Taylor, who joined the bank in
1974 as a utility auditor, has been
manager of auditing operations
since 1980.
Ms. Chauche joined the bank’s es
tate and trust division in 1974 as a
securities clerk, later became a se

Call
Steve Sutton
For Complete
Credit Insurance
Service . . .
Call Toll Free in Nebraska 800-742-7335
or call collect 402-475-4061

Steve W. Sutton

Bank Programs for
GroupHndividual Life*Accident & Sickness

LIN CO LN

'¿ L IF E

Where BENEFIT is more
than a middle name
Lincoln, Nebraska 68508

Northwestern
Banker, February, 1985

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

Vice President

curities trader and presently is a se
curities analyst/portfolio manager.
Mr. Copeland joined the bank in
1980 as a senior product program
mer analyst and currently is a pro
ject manager. Ms. Gilstad came to
the bank in 1978 as advertising coor
dinator and now is retirement plans
coordinator.
Mr. Kassmeier joined the bank
earlier this year as an attorney in
loan collections. Mr. Parker joined
the bank in 1983 as a credit analyst
and was named a junior commercial
banking officer later that year. Mr.
Rogers joined Omaha National in
1983 as a credit analyst and current
ly is a junior commercial banking of
ficer. Ms. Pedersen came to the bank
as an international service represen
tative in 1978 and currently is man
ager of the international banking
area.
* * *
1
Following the monthly meeting of
the board of American National
Bank, Omaha, President John F.
Kotouc announced thé election of
Sharon Huey as cashier of the bank.
A 10-year -veteran of the bank,
Mrs. Huey had been the bank’s in
ternal auditor for five years prior to
her promotion.
In addition to ah associate degree
in business administration in her na
tive state of Missouri, she has pur
sued additional training through the
Bank A dm inistration Institute,
among other professional schools.
* sk *
An application has been filed with
the Federal Reserve Bank of Kansas
City to purchase First Westside
Bank, Omaha, from John Lauritzen,
founder and major stockholder of
First Westside Bank, and other
stockholders including Tom Davis
of San Francisco and Carol Davis
Wells of St. Louis. The application
lists a group of current First Westside executive officers, including
First Westside Bank President M.
David Klipsch, as the majority pur
chasers of the bank. A group of
Omaha investors will own the bal
ance of the stock.
According to Mr. Klipsch, the
purchase process may take between
three to four months, with closing
date for the sale expected around
March 31. First Westside Bank was
chartered in 1955 and had assets of
$115 million at the end of the third
quarter, 1984.

M e e t N B C 's
C orresp on d en t
B an k ers
A c o r r e s p o n d e n t te a m w o r k i n g f o r y o u .
Dedicated. Capable. A nxious to serve you,
reg ard less of how sm all or large your request.
Call (402) 472-4115. Talk to a C orrespondent
B anker who w ill w ork hard for you.

M ike Jacob son
V ice P resident
D ick W ible
V ice President
D onna B ieck
C orre sp o nd e nt B ank
O fficer
Tom C labaugh
C orre sp o nd e nt B ank
O fficer
R andy G u sta fso n
C orre sp o nd e nt B ank
O fficer
R andy H elg ren
C orre sp o nd e nt B ank
O fficer
Jeff K rejci
C orre sp o nd e nt B ank
O fficer
Irene R ezac
C orre sp o nd e nt B ank
O fficer

NBC

National Bank o f Commerce
NBC Center, 13th & O Streets
Lincoln, Nebraska 68508
Telephone (402) 472-4115 Member FDIC
O ne o f th e C o m m erce G ro u p B a n k s
s e r v i n g L in c o ln a n d N e b r a s k a

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

fA FU LL
SERVICE
.B A N K /

l i a T

Northwestern Banker, February, 1985

IRST NATIONAL Lincoln
President William C. Smith has
F
announced that Rod Johnson has
joined First National as a vice presi
dent in the metropolitan banking di
vision.
A native of Tekamah, Mr. John
son is a former president of Lincoln
Bank South and was associated with
the National Bank of Commerce for
several years. He is a graduate of
the American Bankers Association
Commercial Lending School and is
an instructor for the American In
stitute of Banking.
The First National Lincoln board
of directors also elected three new
vice presidents; Mark Hahn and
Marv Hefti in the correspondent
banking division, and James M. Wil
liams in the national/international
banking division.

M. HAHN

R. JOHNSON

M. HEFTI

joined First National Lincoln in
1980, and was named assistant vice
president in 1984.
Mr. Hefti is a graduate of Wash
burn University and a native of Alli
ance. A membekof .the Robert Mor
ris Associates and American Insti
tute of Banking, Mr. Hefti began his
First National care^f in 1976 and
was named assistant vice president
in 1984.

Mr. Williams is a graduate of
Nebraska Wesleyan University. He
joined First Lincoln in 1978 and
worked in the customer service, in
stallment lending and central credit
areas before joining the national/international division.
Other recently announced promo
tions include: Jay D. Callahan, assis
tan t vice president-investments,
municipal and government bonds;
Charles Greenway, assistant vice
president, correspondent banking;
Elizabeth A. Morgan, assistant vice
president and manager, central
credit; Mary A . Ulmer, assistant
vice president / and operations of
ficer, municipal and government
bonds; Michaël G. Harlander, per
sonal financial officer, customer service division; \L.G. Searcey, metro
politan banking officer; metropoli
tan banking division; Bill VanLent,
government bond trader, municipal
and government bdnds, and Eugene
Wagenknecht, EDP auditing officer,
auditing.

Havelock Breakfast 32-Year Success
OR THE past 32 years, state,
F
county and city officials have
met with members of the Havelock
business community for a breakfast
of ham and eggs. On December 11,
1984, the tradition continued.
The annual breakfast is sponsored
by the Havelock Business Associa
tion, but the cost of the event is
borne by Havelock Bank.
Nebraska Secretary of State Allen
Beermann has attended the Have
lock Holiday Breakfast for 20 years.
“ I wouldn’t miss this Havelock
breakfast,” said Mr. Beermann.
“Believe me, I attend all kinds of
nice events all over Nebraska, but
this one is unique because the Have
lock business community is so cohe

sive and yet they do not isolate
themselves from the larger Lincoln
community.”
Mr. John Hobbs, co-founder of
the event, always serves as the Mas
ter of Ceremonies. Some attendees
say they come every year because
one never knows what John Hobbs
is going to say. But, whatever Mr.
Hobbs says, it is sure to be humerous and this year was no exception.
Terry L. King, president of Have
lock Bank, said, “Havelock Bank is
proud to host this Havelock Holiday
tradition. Our roots are here in
Havelock and this is just another
way for Havelock Bank to say
“thank you” to our business associ
ates and customers in Havelock.”

J.M. WILLIAMS

A native of Apburn, Mr. Hahn a t
tended the University of NebraskaLincoln and Peru State College. He
Northwestern
Banker, February, 1985

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

Terry L. King (second from left) chats with (left-to-right) State Senator Don Wesely, Public
Service Commissioner Harold Simpson, and Lincoln Mayor Roland Luedtke, at the Have

lock Holiday Breakfast.

•

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Member, F.D.I.C.

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Federal Reserve Bank of St. Louis

Northwestern Banker, February, 1985

Nebraska News

Consumer Loan Office
Established at Mall Office
First National Bank and Trust
Company, North Platte, has estab
lished a consu
mer loan office
at its South Fa
cility at the Mall.
Effective Febru
ary 4, Virgil L.
Scott, consumer
loan officer, will
staff the loan of
fice.
The loan de
V.L. SCOTT
partment will be
open during the Soiith Bank’s regu
lar hours.

Superior V.P. Retires
Mitch Moret, vice president and
cashier of Farmers, State Bank &
Trust Co., Superior, retired January
1 after 42 years of banking in Iowa
and Nebraska.
Mr. Moret joined the staff at
Farmers State Bank in 1958, mov
ing to Superior with his family from
Orange City, Iowa. Prior to coming
to Superior, he was associated with
his father from 1945 to 1958 in the

iy
Northwestern State Bank of Orange
City as cashier.

CCSI’s ownership of automatic tel
ler machines by which customers of
Citibank South Dakota N.A. in
Sioux Falls may conduct banking
Advanced in Bennington
transactions.
M.
Leslie Nelson has been ad This decision, handed down by
vanced from vice president and Banking Director Roger Beverage,
cashier to executive vice president is the official ruling on information
and cashier of Bank of Bennington. obtained in a hearing conducted by
In addition, Jean Olsen has been the department last July. Citicorp,
promoted from assistant vice presi through its wholly-owned subsidiary
dent to vice president.
CCSI, has established two Citicorp
Financial Service Centers at which
CCSI account executives assist cus
North Platte State Bank
tomers in opening financial accounts
Converts to National
with Citibank South Dakota and
The Comptroller of the Currency
provide collection services on credit
approved, effective January 2, 1985, card debt.
the chartering ofJthe former North
The violation cited by the banking
Platte State Bank to North Platte department involves Section 8-157(6)
National Barifc. The bank and all its which the department interpreted to
personnel will continue as before.
mean that only banks chartered by
the state and all national banking
associations located in Nebraska
Banking Department Rules
may establish such electronic bank
On Citicorp Service Centers
ing facilities. Since CCSI is not a
In an announcement made earlier bank, ownership of ATMs by CCSI
last month, The State Banking De “is in violation of Section 8-157
partment ruled that operations of since cash withdrawals are per
Citicorp Credit Services, Inc., (CCSI) formed through the ATMs.”
in Omaha are not in violation of
The Nebraska Bankers Associa
state law except in the area of tion is currently looking into the rul
ing and was to discuss further action
at a meeting held later in January.

3 New Regents at College
For Financial Planning

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Member FDIC

Northwestern
Banker, February, 1985
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

The College of Financial Planning
in Denver has announced the elec
tion of three new members to its
board of regents at a meeting held
recently in Denver.
The three include: O. Whitfield
Broome, PhD., CPA, professor of fi
nancial accounting and analysis at
the Mclntire School of Commerce,
University of Virginia in Charlottes
ville; Raymond A. Parkins, PhD.,
CFP, CLU, president, The Parkins
Investment Companies, Inc., Orlan
do, Fla., and Gene D. Reifsnider,
LLB, JD, vice president, Bankers
Life of Iowa, in Des Moines.

Send Us Your News
Please send us news of
any promotions, elections
or changes in personnel,
following your bank’s an
nual meeting.
N

B anker
306 ■15th st.
Des Moines, IA 50309

o rthw estern

53
North Dakota:

State Conventions & Schools
Colorado:

Feb. 17-19—CBA Retail Banking Confer
ence, Colorado Springs.
Mar. 10-13—CBA Washington Visit, Wash
ington, D.C.
Apr. 11—CBA/BAI Annual Spring Confer
ence, Denver.
Apr. 21-23—CBA Ag Banking Conference,
Colorado Springs.
June 6-8—CBA Annual Convention, Broad
moor Hotel, Colorado Springs.
June 13-15—NABW State Conference, Shera
ton Hotel, Steamboat Springs.
Sept. 14-17—IBC Annual Convention, Key
stone.
Illinois:

Feb. 20-21 —IBA Commercial Credit Confer
ence, Holiday Inn East, Springfield.
Mar. 13-14—IBA Bank Operations Confer
ence, Hotel Pere Marquette, Peoria,
i Mar. 27, 28—IBA Asset/Liability Manage
ment Conference, Holiday Inn, Decatur,
and Sheraton Hotel, Naperville.
May 4-6—NABW State Conference, Clocktower, Rockford Area.
May 6-7—IBA Trust Conference, Arlington
i Heights Hilton, Arlington Park.
May 20-31—Illinois Bankers School, South
ern Illinois University, Carbondale.
June 5-7—IBA Annual Convention, Marriott
Chicago Hotel.
Sept. 11-12—IBA Retail Banking Confer' ence, Clarion Hotel, St. Louis.
Sept. 25-26—IBA Agricultural Credit Con
ference, Holiday Inn, Decatur.
Oct. 9-10—IBA Marketing Conference, Ramada Renaissance Hotel, Springfield.
Nov. 20-21—IBA Bank Management Confer' ence, Holiday Inn, Decatur.

Iowa:
Feb. 17-18—Group 11, Burlington.
Feb. 24-Mar. 2—IBA Commercial Lending
School, Scheman Center, Iowa State
University, Ames.
Feb. 27-Mar. 1—IBA Mid-Winter Manage
ment Conference, Keystone, Colorado.
Mar. 3-5—IBA Marketing Conference, Mar
riott Hotel, Des Moines.
Mar. 13—IBA State Legislative Reception,
Hotel Fort Des Moines.
Mar. 18-20—IBA Ag Credit Conference,
Scheman Center, Iowa State University,
Ames.
Apr. 12—MB Spring Seminar, Cedar Rapids.
Apr. 13-17—IBA Washington D.C. Trip.
Apr. 16—MB Spring Seminar, Denison.
Apr. 18—MB Spring Seminar, Des Moines.
Apr. 29-30—IBA CEO Conference, Hotel
Fort Des Moines.
May 8-10—NABW State Conference, The
Savery, Des Moines.
'May 20-21 — Iowa Young Bankers Con
ference, Des Moines.
June 10-21 —IBA Ag Credit School, Ames.
June 23-28—Iowa School of Banking, Iowa
City.
July 18-20—MB Annual Convention, The New
Inn, Lake Okoboji.
Sept. 22-24—IBA 99th Annual Convention,

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

Des Moines.
Nov. 13-14—IBA Consumer Lending/Retail
Banking Conference.
Minnesota:

Mar. 4-5—MBA Senior Bank Management
Conference, Radisson St. Paul Hotel.
Mar. 10-14—MBA/ABA Community Bank
Executive Development Program, Hyatt
Regency, Minneapolis.
Mar. 27-28—MBA Agricultural Conference.
Apr. 17-18—MBA Operations Conference.
May 2-4—NABW State Conference, Duluth
Radisson, Duluth.
May 7-10—MBA Washington Legislative
Conference, Washington, D.C.
June 10-12—MBA Annual Convention, Amfac Hotel, Minneapolis.
June 23-28—Minnesota School of Banking,
St. Olaf College, Northfield.
July 21-26—Midwest Banking Institute, Uni
versity of Minnesota, Morris.
Aug. 11-16—MBA Commercial Lending
School, St. Olaf College, Northfield.
Aug. 22-25—Independent Bankers of Min
nesota Annual Convention, Breezy Point
Resort, Brainerd.
Montana:

Feb. 25—MBA Compliance Seminar, Big
Sky.
Apr. 4-5—MBA Marketing Conference, Holi
day Inn, Great Falls.
May 1-3—MBA Retail Bankers Conference,
Sheraton Hotel, Missoula.
May 8-10—NABW State Conference, Heri
tage Inn, Great Falls.
May 16-17—MBA Trust Conference, Helena.
May 23-24—MBA Commercial Bankers Con
ference, Great Falls.
June 13-14—MBA Real Estate Conference,
Outlaw Inn, Kalispell.
June 25-28—MBA 82nd Annual Convention,
Sun Valley, Idaho.
Nebraska:

Feb. 20-24—NBA Bank President’s Confer
ence, Rancho Bernardo Resort, San
Diego, Calif.
Feb. 24-March 1—Schools of Banking Basic
School (1st session), Regency West,
Omaha.
Mar. 20-21 — NBA Ag Outlook Conference,
Kearney Holiday Inn.
Mar. 24-29—Schools of Banking Intermedi
ate School (1st session), Regency West,
Omaha.
Apr. 11-14—NABW State Conference, Cornhusker Hotel, Lincoln.
Apr. 14-19—Schools of Banking Commer
cial Lending, Regency West, Omaha.
May 8-10—NBA 88th Annual Convention,
Lincoln Cornhusker.
July 7-12—Schools of Banking Trust School,
Regency West, Omaha.
Sept. 8-13—Schools of Banking Basic
School (2nd session), Rodeway Inn, Over
land Park, Kan.
Sept. 22-27—Schools of Banking Intermedi
ate School, Rodeway Inn, Overland Park,
Kan.
Oct. 6-10—Schools of Banking Advanced
School, Regency West, Omaha.

Feb. 20-22—Bank of North Dakota MidWinter Break, Bismarck.
Apr. 11-12—NDBA Agricultural Credit Con
ference, Seven Seas, Mandan.
Apr. 15-17—NDBA Washington Legislative
Visit, J.W. Marriott Hotel.
Apr. 24-26—NABW State Conference, River
side Sheraton, Minot.
Apr. 24-26—NABW State Convention, Minot.
Apr. 28-30—NDBA/SDBA Trust Conference,
Sheraton Inn, Aberdeen, S.D.
May 1-3—ICBND and Minnesota Indepen
dent Bankers Joint Washington Visit.
May 9-10—NDBA Marketing Conference,
Holiday Inn, Bismarck.
May 19-24—NDBA North Dakota School of
Banking, University of North Dakota,
Grand Forks.
June 10-11 — NDBA Annual Convention,
Holiday Inn, Bismarck.
July 10-12—Upper midwest Agricultural
Credit Conference, Seven Sea Motor Inn,
Mandan.
Sept. 16—NDBA Northeast Group meeting,
Devils Lake.
Sept. 17—NDBA Northwest Group meeting,
Williston.
Sept. 18—NDBA Southwest Group meeting,
Mandan.
Sept. 19—NDBA Southeast Group meeting,
Wahpeton.
Sept. 25-27—ICBND Annual Convention,
Bismarck.
South Dakota:

Feb. 21—SDBA Bank Management Confer
ence, Holiday Inn, Mitchell.
Apr. 3-4—SDBA Ag Credit Conference,
Kings Inn, Pierre.
Apr. 8-11—SDBA/NDBA Annual Washing
ton D.C. Legislative Trip.
Apr. 18-20—NABW State Conference, Hil
ton Hotel, Rapid City.
Apr. 28-30—SDBA/NDBA Trust Conference,
Sheraton Inn, Aberdeen.
May 12-14—SDBA Annual Convention,
Rushmore Plaza Civic Center, Rapid City.
Sept. 16—SDBA Group 5 Meeting, Rapid
City.
Sept. 17—SDBA Group 4 Meeting, Mobridge.
Sept. 18—SDBA Group 3 Meeting, Mitchell.
Sept. 19—SDBA Group 1 Meeting, Sioux
Falls.
Sept. 20—SDBA Group 2 Meeting, Watertown.
Wisconsin:

Feb. 15-16—WBA Group One Meeting, Radis
son, St. Paul, Minn.
Feb. 24-Mar. 3—WBA Mid-Winter Retreat,
Frenchman’s Reef Resort, St. Thomas Is
land.
Apr. 10-11—WBA Agricultural Bankers Con
ference, The Concourse Hotel, Madison.
May 5-8—WBA Legislative/Regulatory Con
ference, Washington, D.C.
May 13-16—NABW State Conference, Mid
way Motor Lodge, Green Bay.
May 21-22—WBA Bank Marketing Confer
ence, Holiday Inn & Holidome, Stevens
Point.
June 16-19—WBA Annual Convention, Marc
Plaza Hotel and Hyatt Regency, Milwaukee.
Wyoming:

Apr. 27—WBA Career Challenge, Casper.
May 3-5—NABW State Conference, Lander.
May 4—WBA Career Challenge, Cheyenne.
June 16-18—WBA Annual Convention, Jackson Lake Lodge, Moran.
Northwestern Banker, February, 1985

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for FRASER Banker, February, 1985
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Federal Reserve Bank of St. Louis

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W. Logan, pres., Keokuk
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IBA Marketing Conference Is Mar* 3-5

55
as assistant vice president last June,
has been promoted to vice president
in charge of consumer loans, market
ing and property management.
Jewel Thorne was promoted to
motor bank manager. She has been
with NBT since 1978 and has also
worked in bookkeeping and at the
Motor Bank.
Debra Kirchner has been named
mortgage loan officer to more ac
curately reflect the position she has
held since joining le bank last
June.
Ursula Bingham as been named
assistant trust offii er. She has been
with NBT since 1 68 and has held
several positions, ost recently as
Motor Bank manager for the past
year.

and a director, is also a vice ^president and director of Fidelity Bank
Corp., the band's holding company.
In addition, Monte R. Cue, pre
Your Customer.” It is scheduled
March 3-5 at the Marriott Hotel in viously cashier, has been named vice
president, and Malcolm G. Ri^k, pre
Des Moines.
Chairperson for the IB A market viously vice president,
ing committee is Marilyn Pohorsky, named to the additional
marketing officer at State Central cashier.
IBA Commercial Lending
Bank, Keokuk.
School
Approaching
An outstanding array of national Mount Pleasant Bank
ly noted speakers will address them Executive Appointment Told
John Barrickman, senior vice
selves to the subjects of delivery of
president, Bank of Earnings Inter
The board of Henry County Sav national, Atlanta, will be one of
financial services, marketing re
ings
Bank, Mount Pleasant, has an three faculty members at the Iowa
search, new product availability,
and communications techniques. nounced the ap
Bankers Association Commercial
These speakers include the follow p o in tm e n t of
Lending School set for February 24 Dean Hicks as
ing:
March 2 at the Iowa State Univer
• Biff Motley, president, Finan executive vice
sity, in Ames.
president. His
cial Products Group, Chicago.
Mr. Barrickman has been an in
• John Taylor, president and primary respon
structor
for the ABA, Mid-South
CEO, The Bankers Life, Des sibility is in the
School
of
Banking, the Bank Admin
lending function.
Moines.
istration
In stitu te School, the
M r.
H icks
• Diane Kellner, vice president,
Prochnow
Graduate
School of Bank
State Bank of Medford, Medford, m ost recently
ing
and
the
Banking
Studies Center.
was president of
D. HICKS
Wis.
He
is
author
of
the
ABA level 200
• Pat Thompson and Chris Peter Communityx Na
commercial
lending
curriculum.
son, Evaluation and Training Con tional Bank & Trust Company in
The purpose of the IBA Commer
Knoxville e also served as senior
sultants, Lincoln, Nebr.
cial
Lending School is to prepare
• James Autry, senior vice presi vice president of Brenton State entry-level, exempt and mid-level
/
dent magazine group, Meredith Bank of Jefferson.
commercial bank officers to serve ef
.
Corp., Des Moines.
fectively and profitably the needs
• Richard Pemble, Time Maga Chariton Changes Announced and desires of the American public
zine.
At its annual meeting, The Na and American business.
The program also includes the tional Bank & Trust Company of
Registrations are still being ac
Best of Iowa Marketing Awards, a Chariton, announced two promo cepted. For more information con
panel discussion in focus group for tions and two title changes.
tact Judi Carber at the IBA office in
mat that will zero in on consumers
Jim Fuller, who join^cLthe bank Des Moines.
and their relationships with banks, a
“show and tell” session featuring
1985 Iowa Group Meetings
successful marketing ideas, telemar
keting, media buying, and new pro
Location
Group
Date
ducts.
Burlington
11
February
17-18
Registration is $120 for IB A
Davenport
8
May 6
members, $150 for IB A subscribers,
7
May
7
Grinnell
and $180 for non members.
4
Cedar Rapids
May 8
6
May 9
Des Moines
Named in Independence
5
May 20
Council Bluffs
Dolph Leytze ha& been named ex
2
May 21
Fort Dodge
ecutive vice president of Farmers
12
Okoboji
May 22
State Savings Bank, Independence.
3
Clear Lake
May 23
Mr. Leytze, currentlÿ-vice president
HE THEME for the 1985 Iowa
T
Bankers Association Marketing
Conference will be “Anatomy of

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Federal Reserve Bank of St. Louis

Northwestern Banker, February, 1985

Iowa News

Four Promoted at First
National, Sioux City

Employees Honored at Party

Carleton C. Van Dyke, president
of
American Banc-Services, Inc.,
Max J. Larson, president of First
National Bank in Siqdx City, has an Sioux City, announced recently that
nounced the promotion-of four offi five employees of two bank affiliates
cers. Edgar J. Den Beste has been were honored recently at the organi
named assistant vice president and zation’s annual party.
From the Farmers State Bank at
trust officer; Barbara R. Ply male
will serve as the director of human Marcus, Stanely Nervig, senior vice
resources; David A. Ranschau has president and manager, was cited
been appointed assistant vice presi for 30 years of service; Ken Ogren,
dent, and Wanda J. Wheeler has vice president and cashier, for 15
been promoted to operations officer. years of service, and Judy Letsche
for five years.
From First Trust & Savings
Bank, Remsen, Dale Anderson for
10 years of service, and Ann Bergner for 25 years of service.

Named Trust Officer at
First Rational, Iowa City
E.J. DEN BESTE

D.A. RANSCHAU

B.R. PLYMALE

W.J. WHEELER

Mr. Den Beste will be in charge of
the marketing strategy for the trust
area, in addition to ovérseeing pen
sion and profit-sharing plans, cor
porate trust accounts, and the in
vestment management of the trust
department. He joined the bank in
1979 as marketing director.
Ms. Plymale will be in charge of
supervising the processing and eva
luation of new job applications, pro
motions and transfers within the
bank, along with coordinating the
training and employee benefit and
compensation programs with the
bank’s holding company, Banks of
Iowa, Inc. She joined the staff at
First National in 1981.
Mr. Ranschau, formerly assistant
cashier, has responsibilities which
include overseeing First National’s
item processing department, mail
room and messenger areas. He has
been with the bank since 1975.
Ms. Wheeler will be responsible
for management of the purchasing
department, word processing center,
print shop and microcomputer facili
ties. She has been with the bank
since 1971.
*
\

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798 5

Clark Houghton, president of
First National Bank, Iowa City, has
announced that Tara L. Stonehouse
has joined the bank as trust officer.
Ms. Stonehouse received her law
degree from Creighton University in
1980. She worked as a trust exami
ner for the Iowa department of
banking before joining First Na
tional Banl

Dunkerton Bank Office
Moves Into New Building
The-rDunkerton offic^ of Peoples
Bank and Trust Company, Water
loo, has moved into its new building
at the corner of Carroll Boulevard
and Jon Road in Dunkerton.
The new building includes a fullservice drive-up banking window, in
creased numbers of safe deposit
boxes, private coupon booth, a per
sonal new accounts area, private of
fices and conference roopi. The new
office at Dunkerton also"'has the
area’s first 24-hour automated teller
machine.
X
/

Centerville Promotions Told
Iowa Trust and Savings Bank,
Centerville, announced the following
promotions at the bank’s annual
board of directors meeting held in
January: Jeffrey T. Young and Bill
Bailey, vice presidents; Jack Maletta, vice president and trust officer;
Bradley Young Jr., assistant vice
president; Donna McClure, assis
tant cashier, and Lois Harris, assis
tant cashier and mall office man
ager.
Mr. Young joined Iowa Trust in
1981 and is a graduate of the Uni

versity of Iowa. He recently served
as assistant vice president in the
Iowa Trust loan department and will
remain there as vice president.
Mr. Bailey has been with Iowa
Trust since 1979 and received his
bachelor’s and master’s degrees in
mathematics from Northeast Mis
souri State University in Kirksville.
Formerly a loan officer with Iowa^
Trust, Mr. Bailey is now head of thew
financial services department and is
the bank’s marketing director.
Mr. Maletta joined Iowa Trust in
1980. He graduated from Iowa S t a t ^
University with a degree in account
ing, and served in the U.S. Navy for
ten years as a communications spe
cialist. Mr. Maletta was a loan offi
cer with Iowa Trust and now heads^
up the bank’s computer operations
and is the bank’s trust officer in the
financial services department.
Mr. Young has been with Iowa
Trust for two years and will con^
tinue to serve in the bank’s financial
services department.
Ms. McClure joined the staff of
Iowa Trust in 1974. As assistant
cashier she will continue to serve a &9
the bank’s head teller.
Ms. Harris began working with
Iowa Trust as a teller in the mall of
fice in 1978. She has been manager
of the mall office of Iowa Trust for#
two years and will remain ther’e as
assistant cashier.

Universal Life Insurance
Topic of IBIS Meetings

Iowa Bankers Insurance and Ser
vices, Inc. will be holding a meeting
on Universal Life Insurance Plan for
Bank Employees on seven dates i£
February and March. Bank CEOs,
presidents and personnel managers
are encouraged to attend. Registra
tion will begin at 9:30 a.m. The meet
ing will run from 10:00 - 1:30, with £
break for lunch. The dates and loca
tions are as follows:
Waverly - February 19, Red Fox
Inn, Highway 3 West;
Dubuque - February 20, Midwajr
Motor Lodge, 3100 Dodge;
Iowa City - February 21, High
lander Inn, 1-80 at Exit 246;
Des Moines - February 26, Holiday
Inn, 1-235 & 6th Ave.;
Red Oak - February 27, Holiday
Inn, Highway 34 North;
Carroll - March 6, Carrollton Inn,
Highway 71 North; and
*
Spencer - March 7, Stub’s Ranch,
Highway 71 South.

The difference between
our health plans and theirs is
enough to make you sick.
W ith most insurance
plans, if you’re not sick
before you get your
final medical bill, you
will be after.
But no t with IBIS.
O ur many health
care plans are as
substantial as our
premiums are minimal.
Including coverage on
prescription drugs and
physical exams.
Why, we even cover
your m outh.W ith dental
plans as contemporary
and complete as any
available.
H ealth and dental
insurance designed
by Iowa bankers,only for
Iowa bankers.

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Federal Reserve Bank of St. Louis

W hich is one more
reason why we’re the
choice of 483 out of 644
banks in Iowa.
Like to know more ?
Call Millie Uding at
1-800'532'1423 toll free
today. You’ll be sick if
you don’t.
m

IowaBankersInsurance
&Services,Inc.
Northwestern Banker, February, 1985

Iowa News

First National, Paullina,
Purchased by Omahan
The First National Bank of Paul
lina has been purchased by the
Royce Corporation of Omaha, a
holding company owned by Law
rence R. James, M.D. The same firm
also owns Walnut State Bank and
recently acquired Manning Trust &
Savings Bank and vfcas awaiting fi
nal approval last mopth on its pur
chase of First National Bank in Fon
da. Dr. James also owns three banks
in Nebraska.
George E. Norden, president and
CEO of the Walnut State Bank, was
named president and CEO of First
National Bank of Paullinai David C.
Emmert, formerly of Geneseo, 111.,
was named executive vice president
at Paullina. Tom L. Henderson was
elected a vice president of First Na
tional of Paullina and continues as
executive vice president of Manning
Trust & Savings Bank. Claudia G.
Hoskins was promoted from assis
tant cashier to cashier at Paullina.
The newly-formed board of direc
tors of First National of Paullina is
made up of Dr. James, chairman;
Mr. Norden, Mr. Emmert, Stan Oolman, Craig Struve and Steven Louscher.
At Manning Trust & Savings
Bank, Jame£ Johnston, ormerly of
Alta, has b £en elected president to
succeed Le Rasmussen.
At First fational Ban of Fonda,
Howard R< has been na ed presiW. Reed, ho was
dent. Mar
has re
chairman of he Fonda ba
signed to pu ue his own business
interests as a rmer-cattle feeder at
r. Roe has been in
Iowa Falls,
banking since 962 and for the past
10 years ha been president and
CEO at Citizens National Bank of
Madelia, Min'

Governor Initiates ATM Use

Two Senior V.P.s Retire
From Waterloo Savings Banl^

Branstad counts out $500
withdrawn from the State Capitol’s new ATM
while Hawkeye-Capital Bank & Trust Presi
dent David Walthall, looks on. The Governor
then donated the $500 on behalf of HawkeyeCapital to the Iowa Historical Museum Foun
dation.
Gov. Terry

Iowa Governor Terry Branstad re
cently took part in a ceremony intro
ducing a new automatic teller ma
chine to the State Capitol. The cere
mony took place near the stairway in
the cafeteria where the ATM is lo
cated.
Governor Branstad inserted a spe
cial card in the machine for the occa
sion and withdrew $500 which was
donated to the Iowa Historical Mu
seum Foundation on behalf of Hawk
eye-Capital Bank & Trust, owner of
the ATM. Jay Tone, chairman of the
Iowa Historical Museum Founda
tion, accepted the donation from the
Governor on behalf of the Founda
tion. David Walthall, president of
Hawkeye-Capital Bank & Trust, also
announced for every transaction at
the Capitol’s ATM during January,
Hawkeye-Capital would donate an
additional 25 cents to the foundation.
Dignitaries attending the cere
mony in addition to Governor Bran
stad, Mr. Walthall, and Mr. Tone in
Named/Epworth Manager
cluded
Michael Fitzgerald, Treasurer
Jack Roach, president of Key City
of
the
State of Iowa, Dale Dooley,
Bank and Trust Company, Dubu
que, has announced the appoint President of I.T.S., Inc., and Neil
ment of Jerry Ritt as assistant Milner, executive vice president of
cashier and manager of the Epworth the Iowa Bankers Association.
office of Key City Bank. Mr. Ritt
graduated from Loras College,
Dubuque, and the Iowa Bankers ly retiTëd as manager qfj the Ep\
Association Agriculture School in worth office after more than seven
Ames, la. He was previously em teen years of servicer'
ployed as manager of the Holy Cross
office of the Farley State Bank for Denison Addition Told
Scott Brus has been hired by Na
four and one-half years.
Mr. Ritt succeeds Henry Marxen, tional Bank of Iowa to serve as as
assistant vice president, who recent- sistant vice president at its main of

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Federal Reserve Bank of St. Louis

fice in Denison. Mr. Brus is a 1982^
graduate of Iowa State University
and previously was employed by the
Iowa Department of Banking as a
bank examiner.
National Bank of Iowa, fo rm erly
Manilla State Bank, received its na
tional charter in August of 1984 and
changed its name. January 14 the
bank moved its main office to a new
ly completed bank building in Deni*
son, retaining the Manilla location
as an office.

Two senior vice presidents recent
ly retired from Waterloo Savings
Bank December 31, 1984, and were
honored at the bank’s annual servicq^
award banquet and at a retirement
party.
V
Merle W. Rodgers, senior vice
president, Retired after 47 years with
the bank. He started in 1937 anc|^
worked in bookkeeping through the
early forties with a few years leave
for military. In 1946 he was pro
moted to (¿aft and collection teller,
and note teller a few years later. In£
1951 he was promoted to assistant
cashier involving ag loans, person
nel and general operations, and in
1954 he received title of assistant
cashier ançl assistant trust officer
was promoted to assistant vice pres
ident in 1959, vice president in 1963
and late 1963 vice president and
cashier. Mr. Rodgers was made a se
nior vice president in 1966 at whic
time he assumed responsibilities in
real estate lending.
\
Robert V. Cooper, senior vice
president, retired after 37 years of
service with the bank. He started i
1946 as a teller, was promoted to
head teller in the late 1940s, and in
the early fifties was promoted to a
loan officer in instalment loans. He
was promoted to assistant cashier i
1955, and in 1957 was promoted to
assistant cashier as head of the in
stalment loan department. In 1959
Mr. Cooper was promoted to assis
tant vice president and then vie
president in 1963, handling commer
cial and real estate loans. In 1966 he
was promoted to senior vice presi
dent still handling commercial an
real estate loans, and by early 70
was specializing in real estate loans.
When the Cedar Heights Drive-in
opened, Mr. Cooper became man
ager of that pluK continuing in rea
estate loans and some instalmen
loans.

ANOTHER TURNKEY BANK PROJECT BY KIRK

THE WAY WE PUT IT TOGETHER 15

U5 APART
First national Bank of Waverly • Waverly, Iowa

4015 Alexandra Drive • Box 2097
Waterloo, Iowa 50704
Phone 319-234-6641

KIRK GROSS CQ

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Federal Reserve Bank of St. Louis

tions, advertising, reséàì
lie affairs.
*

of regional vice president with re
sponsibility for coordinating Nor
west’s four business segments (re
tail, commercial, agriculture and fi
nancial institutions) for all banks in
Region IV.
Thomas N. Hammelman, execu
tive vice president, will mange the
Norwest Card Services Division lo
cated in Des Moines and will report
to Mr. Benson.
John E. Ganoe, regional vice pres
ident and controller for Region IV,
has been named to the additional
post of chief administrative officer
of Norwest Bank Des Moines, re
sponsible for operations and finan
cial management.
Will C. Smith, regional vice presiH.C. BENSON
E.G. PRECHT
dent/human resources, will assume
Mr. Benson began his career with additional responsibility for human
Norwest in 1940 at Norwest Bank resources management at Norwest
Midland in Minneapolis. He was Bank Des Moines.
named Region IV president in 1982.
Robert A. Anderson, senior vice
Mr. Precht, who has been with president, credit administration for
Norwest for 33 years, will undertake Norwest Bank Des Moines, has been
special assignments for Norwest named regional vice president and
Corporation, based in Minneapolis, senior credit officer for Region IV.
and Region IV, based in Des
Mr. Benson said the changes are
Moines, over the next 15 months intended to strengthen and unify the
prior to retiring.
delivery of products and services
Mr. Benson announced that six through the Region IV Norwest
other officers have been assigned banks which are located in Betten
dual roles for the region and Nor dorf, Cedar Falls, Fort Dodge, Keo
west Bank Des Moines.
kuk, Marion, Ottumwa and Des
George F. Milligan, president and Moines.
chief operating officer of Norwest
* * *
Bank Des Moines, has been given
Hawkeye Bank & Trust of Des
the additional post of regional vice
president with oversight responsi Moines has announced the election
bility for the seven Norwest banks of Mary M. Riche to the bank’s
board of directors. She is president
in Region IV.
H. Lynn Horak, executive vice and owner of Riche, Thoreii, Associ
president of Norwest Bank Des ates, Inc., a firm she founded in
Moines, assumes the additional post 1980, specializing in p u b lic relaNor west Corporation announced
last month that Harry C. Benson,
regional president of Norwest’s Re
gion IV, has been elected to the addi
tional posts of chairman and chief
executive officer of Norwest Bank
Des Moines, succeeding E.G. (Bud)
Precht.

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Federal Reserve Bank of St. Louis

United Central Bank of Des
Moines, N.A., has announced the ap-<
p o in tm e n t of
Douglas Walkup
as investm ent
officer.
Mr. Walkup
joined U nited
Central Bank in
December, 1980,
as a bond repre
se n ta tiv e and
later he assisted
D. WALKUP
in developing
discount brokerage. He is currently
in the funds management area.
* * *
*
Valley National Bank recently an
nounced several elections and pro
motions.
Rick Miller has been elected vice^
president in the lending division. He*
joined Valley Bank in 1983 and is a
graduate of Towson State College,
Baltimore, Maryland.

R. MILLER

C.H. LEIBOLD

Charles H. Leibold has been pro
moted to vice president and trust of
ficer in the trust division. He joined
Valley in 1981 and graduated froi
the University of Iowa with a
degree and from Drake University
with a law degree.
Scott Konecny has been promoted
to senior trust officer. He joined tht
bank in 1983 as a trust investment'
officer and is a graduate of the Uni
versity of Colorado with a degree in
business administration.
Mark G. Kilian has been pro<

S. KONECNY

M.G. KILIAN

William Duma
Vice President
Iowa Correspondent Services

Michael Austin
Vice President and Manager
Iowa Correspondent Services

(515) 245-7251

(515) 245-7253

Kenneth Danilson
Vice President
Iowa Correspondent Services

William Mullins
Assistant Vice President
Iowa Correspondent Services

(515) 245-7348

(515) 245-7157

Diane Grotenhuis
Secretary
Iowa Correspondent Services

Margo Foxhoven
Operations Assistant
Iowa Correspondent Services

(515) 245-7353

(515) 245-7019

We’re positioning ourselves for the challenge ahead. We’re ready and our future
commitment continues to be with you, one of the over 200 correspondent banks we
serve throughout Iowa.
Stay with the leader in correspondent services

OF DES MOINES, N.A.

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Federal Reserve Bank of St. Louis

AFFILIATED WITH UNITED CENTRAL BANCSHARES. INC.

MEMBER FDIC

62
Iowa News
moted to internal auditor. A gradu
ate from Drake University, Mr.
Kilian joined Valley Bank in April,
1984, as staff auditor.
* * *
R. Douglas Fisher, executive vice
president of Hawkeye-Capital Bank
& Trust, announced Michael R. Carley has been named branch manager
of its Pleasant Hill office. Mr. Carley
succeeds Pamela Stark, who has
been assigned to the bank’s Hick
man Road office.
Mr. Carley, 25, joined HawkeyeCapital in March of 1984 as assis
tant manager at Pleasant Hill. He
previously was with Valley National
Bank.
Mr. Fisher also announced Bren
da Hansel assumed duties as assis
tant manager of the Pleasant Hill of
fice in late January. Ms. Hansel was
an administrative assistant in the
bank’s trust department.

Four Iowa State Banks
OKd for National Charters
The Comptroller of the Currency
approved the applications of four
Iowa state-chartered banks to con
vert to national charters, effective
with the beginning of the 1985 year.

The state charters and their new na
tional charter names are:
Cambridge State Bank th-B ifst
Natiopaj Bank:
Noitwest State Bank Keokp^ to
Norwest Bank ..Keokuk, rational
Association.
Notwest State Bank Atlantic tp
Norwest Bank Atlantic, National
Association.
Bettendorf Bank and Trust Com
pany to\Bettehdorf Bank, National
Association.
(The latter three banks are all affi
liated with Norwest Corporation.)
In addition, the Comptroller’s re
port shows a title change for The
Poweshiek County National Bank of
Grinned to Brenton Nationai^Bank Poweshiek County.”

Atkins President Elected
At the annual meeting of Atkins
Savings Bank & Trust, held January
8, Kenneth Hagan was advanced
from president to chairman. Richard
Hare, executive vice president since
1982, was elected president.
Also announced was the election
of Harriet Rinderknecht as vice
president and cashier and Homer
Monk as vice president. (

Committed to
making your
bank stand
apart from the

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Rock Valley Bank
Elects President and COO

Thomas M. Awtry has been elected
president and chief operating officer
of Valley State
Bank, Rock Val
ley. He succeeds
W.C. Anderson,
who has been
elected c h a ir
man.
M r. Aw t r y
began his bank
ing career in
1968 as a bank
T.M. AWTRY
examiner with
the Iowa Department of Banking.
He joined First National Bank, Fon
da, in 1979 and was elected presi
dent in 1981. He later worked foi#
Yanney, Hughes and Rapp of
Omaha as a bank consultant. He
joined Valley State Bank, Rock
Valley, in September of 1984.

IBA Advances Two Staffers
To Title of Director
Marva McCarty and Linda Robin-.
son-Gay have been promoted to the1
title of director of their respective
divisions from their former title of
manager.
Ms. McCarty now serves as direc-^
tor of education, with responsibility
for planning, directing and imple
menting policies and procedures for
the educational activities of the
IBA. She also represents IBA on th
board of directors of VIBES (Video
Bank Education Service). She joined
the association three years ago after
experience with an international
training company, as a utility firi
communications coordinator, and a
TV newscaster.
Ms. Robinson-Gay is responsible
for developing, implementing and
interpreting approved employee re
lations policies and programs to at
tract, retain and motivate personnel.
She also administers the salary and
training programs for the IBA and
its four affiliates, and serves as
human resources consultant to IBA
member banks.
Ms. Robinson-Gay joined the
IBA in January, 1984 as human re
sources manager, after similar ser
vice with Mercy Hospital in Des
Moines. She holds a BS degree in
elementary education and an MS de
gree in personnel services and coun
seling, both from -Drake Universit
in Des Moines.

Statement of Condition
December 31,1984

ASSETS
$ 39,144,611.83
403,690,717.05
7,517,117.25
168,572,512.47

Cash and Due From Banks
U.S. Government and its Agency Securities
Other Marketable Corporate Obligations
Municipal Securities
Federal Reserve Bank Stock
Federal Reserve Funds Sold
Loans
Bank Premises and Equipment
Interest Accruals
Other Assets

1, 122, 000.00

7,000,000.00
215,787,055.87
9,193,872.36
20,338,347.33
9,873,042.82
$882,239,276.98

LIABILITIES
$ 2,400,000.00
35,000,000.00
45,253,581.88
$ 82,653,581.88

Capital Stock
Surplus
Undivided Profits
Total Capital Funds
Federal Reserve Funds Purchased and Securities
Sold Under Agreement to Repurchase
Reserves for Interest, Taxes and Other Liabilities
Deposits

201,317,107.99
15,013,872.16
583,254,714.95
$882,239,276.98

BOARD OF DIRECTORS
V. O. Figge
C hairm an o f the Board

Edward L. Carmody

James Kahl Figge

John Kahl Figge

Thomas Kahl Figge

S e n io r Vice P resident

E xe cutive Vice P resident

P resident

E xe cutive Vice P resident

Mel Foster, Jr.

Thomas A. Gildehaus

Richard E. Kautz

Joseph S. Kimmei, Jr.

Pres., M el F o s te r Co., Ine.

E xe cutive Vice Pres., Deere & C om pany

S e nior Vice P resident

Pres., R e p u b lic E le c tric Co.

Robert G. Lenertz

Lloyd G. Schermer

Charles R. Von Maur

Robert V. P. Waterman

Henry C. Wurzer

S e n io r Vice P resident

Pres., Lee E n terprises

P etersen-H arned-V on M aur

Lane and W aterm an

K a hl P rope rties

Davenport Bank and Trust Company
MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION

203 West Third Street • Davenport, Iowa • 52801

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Northwestern Banker, February, 1985

Iowa News

Elections Announced
At Hills Bank and Trust
The board of directors of Hills
Bank and Trust Company has an
nounced promotion of five bank offi
cers and the election of three new of
ficers. Dwight Seegmiller has been
named senior, vice president. He for
merly was a bank vice president.
Ray Glass and Tim Smith Were both
advanced to vice president status
from assistant vice president?. New
assistant vice presidents are Wayne
Beck and Marty Maiers, wno were

promoted from assistant cashier and
assistant controller respectively.
New officers named at the bank
are Tim Finer, Kurt Kastendick and
Dale Kretschmar who have been
elected assistant cashierfe. Tom
Kriz, who joined the bank staff in
December, is continuing his officer
training.

additional position of chairman o%
the board at the bank’s annual meet
ing last month. As chairman, Mr.
Pingrey succeeds Reuben Griffith,
who retired after 42 yeaTa-as a direc
tor, the la?t 16 as chairman of th«^
board.

Webster City Promotes One

Mark Noll has been promoted tc#
assistant vice president of First
Bank,
George H. Pipgrey, president of S t a t e
Webster
City.
Sac City State Bànkrwae^iven the
Mr. Noll joined
the bank’s staff
in July, 1983, as
STATEMENT OF CONDITION
an agricultural
at close of Business December 31, 1984
representative.
ASSETS
Prior to that
Cash and Due from banks...............................................
$ 12,156,287
time he was vo
Investment securities:
cational agricul
U.S. Treasury securities.............................................
39,595,310
tural instructor
Obligations of other U.S. Government
and FFA advisor
agencies and corporations......................................
11,056,614
for over four years at Webster Citw
16,892,260
Obligations of states and political subdivisions.......
Total Investment securities................................
67,544,184
Community Schools.

Title Change at Sac City

Federal funds s o ld ..........................................................
Loans, net of unearned incom e......................................
Less allowance for loan losse s..................................
Total lo a n s ..........................................................
Accrued interest receivable...........................................
Bank premises and equipment........................................
Other assets....................................................................
Total a s s e ts .........................................................

11,900,000
81,596,759
.............(801,642)
80,795,117
2,638,263
2,467,308
181,864
$177,683,023

LIABILITIES and STOCKHOLDERS’ EQUITY
Deposits:
Non-interest bearing...................................................
Interest bearing..........................................................
Total deposits .....................................................
Securities sold under agreements to repurchase.........
Other short-term borrow ings.........................................
Accrued expenses and other lia b ilitie s..........................
Total lia b ilitie s .....................................................
Stockholders’ equity:
Common s to c k ............................................................
Surplus ........................................................................
Retained earnings.......................................................
Total stockholders’ e q u ity ..................................
Total liabilities and
stockholders’ e q u ity ...........................................

$ 22,198,576
134,568,457
156,767,033
2,706,697
1,449,726
1,513,727
162,437,183
2,800,000
4,200,000
8,245,840
15,245,840
$177,683,023

OFFICERS
Dale K. DeKoster
Chairman of the Board & President
Commercial Division
E. James O’Connor
Senior Vice President
James R. Gerber
Vice President
Mortgage Division
Merle W. Rodgers
Senior Vice President
Robert V. Cooper
Senior Vice President
David A. Fegley
Mortgage Loan Officer
Consumer Lending Division
Robert L. Smith
Vice President

▼AT

Betty M. Runyan
Assistant Cashier
Diane C. Kupferschmidt
Personnel Director
Anita M. Ward
Auditor
Trust Division
Frederick Koch
Senior Vice President
and Trust Officer
Dennis E. Egel
Trust Officer
James E. Thielen
Trust Officer

WATERLOO SAVINGS BANK
West Park at Cedar, W aterloo, Iowa 50704

Northwestern Banker, February, 1985

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

Deon Senchina
Consumer Loan Officer
David A. Mulnix
Consumer Loan Officer
Gary L. Dodge
Consumer Loan Officer
Agricultural Division
William D. Davidson
Vice President
Operations Division
Gerald J. Curran
Cashier
Rick A. Thuesen
Controller
Donald N. Richards
Vice President

Elected in Mason City
Two new directors were re c en tly
elected to the board of Norwest
Bank Mason City, N.A,. Elected
were Steve Chandler, district man
ager of Interstate Power, and
Holmes Pedelty, agricultural consul^
tant and northern Iowa area farmer.
Two directors chose not to stand
for re-election. James C Barclasy re
tired after serving 19 years on
board and D. Keith Barker retire
after 12 years service. \

Waukon Promotions
Farmers & Merchants saving
Bank, Waukon, recently announced
the promotions of James \J. Rathbun to vice president; Rpbert N.
Erickson to assistant vice president,
cashier and trust officer; Nape
Burg to assistant vice president,
and Marly^ Leiran to assistant
cashier.

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B anker
306 - 15th st.
Des Moines, IA 50309

orthw estern

Iowa News

/ will be offered by( the\ Cen
ing course
Merchants V.P. Promoted
Richard E. Retz has been pro ter for Futures Education, utilising
a computer data base network to de
moted to vice
monstrate
the topic. The additional
president in the
fee for this portion of the program is
c o rre sp o n d e n t
$35 per person.
banking division
Another four-hour session in the
of M erch a n ts
afternoon
will concentrate on Bank
National Bank,
ruptcy Alternatives and Strategies,
Cedar Rapids.
conducted by Tom Flynn, a Des
M r.
R etz
Moines attorney and bankruptcy
joined MNB in
trustee. Other attorneys will discuss
July, 1983, after
security documentations and agree
s p e n d in g ten
R.E. RETZ
ments and what to expect if bank
years with the
ruptcy occurs. Audience sharing of
, Home State Bank at Jefferson.
experiences is encouraged.
Keynote speaker will be John
Marten of Farm Journal, who will
Ag Credit Conference Will
provide his economic and land price
Be March
18-20 at Ames
V— ^
outlook.
► This year’s annual Iowa Bankers
Association Ag Credit Conference, Dike Cashier Named
scheduled for March 18-20 at ScheLarry C. Lenhart has joined Iowa
man Center on the Iowa State cam Savings Bank, Dike, as cashier, y
pus in Ames, will focus on coping
He began his banking career at
>with current ag problems and look the Melbourne Savings Bank and
ing ahead^tp^recovery.
most""recently served as_vicé (presi
On the first morning, a special dent of Security Savings Bank of
four-hour grain anè livestock hedg- Williamsburg.

Index of
Advertisers
Advanced Reso urce Tech nolog i e s ............................................. 9
American National Bank & Trust, St. P a u l................................ 20
Banclease, Inc., O m aha............................................................... 44
Bank of North Dakota ................................................................. 39
Bankers Liquidation Report.........................................................12
Bankers Trust Company, Des M o in es.......................................54
Davenport Bank & Trust Company............................................. 63
Drovers Bank of Chicago ...........................................................6-7
F&M Marquette National Bank, Minneapolis ......................... 23
Financial Institution Investment S ervices................................ 13
Financial Systems, Inc., Kearney..................................................5
First Interstate Bancorp ........................................................ 34-35
First National Bank, Dubuque....................................................65
First National Bank, Lincoln ...................................................... 51
First National Bank, Minneapolis ................................................3
First National Bank, Omaha ...................................................... 47
Gross, Kirk Company, W aterloo..................................................59
Heller, Walter E. Company...........................................................11
Homestead Management System, Inc....................................... 10
Iowa Bankers Insurance & Services, Inc.................................... 57
KIS Software ................................................................................. 12
Lincoln Benefit Life Company, Lincoln.................................... 48
Merchants National Bank, Cedar Rapids .................................. 2
National Bank of Commerce, L in co ln .......................................49
National City Bank, M inneapolis................................................25
North Central Companies, St. P a u l........................................... 67
Northern Trust Company, C h ic a g o ........................................... 14
Nonwest Corporation....................................................................68
Office Concepts, Ltd., W aterloo..................................................62
Packers National Bank, O m aha.................................................. 52
United Central Bank Des Moines, N.A........................................ 61
Waterloo Savings B a n k ............................................................... 64

Statement of Condition
DECEMBER 31, 1984
Resources

Liabilities

Cash and Due from Banks...........
U.S. Government Securities.........
Municipal B onds..........................
U.S. Agency Bonds......................
Federal Reserve Bank S to c k .......
Federal Funds S o ld ......................
Loans, Net of Unearned Income
($738,000)..................................
Less:
Reserve For Possible Loan Losses.
Bank Premises and Equipment
Other Assets..................................
TOTAL ........................................

Paul A. Pfohl

Mark J . Willging

John W. Law

Assistant Vice PresidentInstallment Loan Manager

Vice PresidentTrust Officer and
Trust Department Manager

John W. Law Co., Retired

Linda L. Budde

William G. Kruse

Vice PresidentCommercial Lending

Assistant Vice President-

John M. Hansen
Vice President-Investments

President

David W. Spahn

Paul J. Gisch

Vice President and Controller

Senior Vice PresidentSpecial Lending

C. Michael Reilly

Manager Real
Estate Department

Francis A. “ Chip”
Murray, Jr.
Assistant Vice President
Manager West Dubuque
Office

General Manager, John Deere
Dubuque Works

Trust Officer

J . Bruce Meriwether

Cheryl M. Christ

President

Trust Administration Officer

Wayne A. Norman

Shirley A. Christensen

Planning and Development
Officer, University of
Dubuque

Trust Operations Officer

Directors

Senior Vice PresidentOperations

Richard A. Bean

L. Richard Winter

Senior Vice PresidentFinance

Vice PresidentCustomer Relations

Alan L. Schuster

Daniel E. Welu

John J . Savary

Personal Banking Officer

Paul J . Gisch

Senior Vice President and
Cashier

Mark E. Small
Auditor

Senior Vice PresidentSpecial Lending

Thomas W. Buelow

Assistant Vice President
Manager North
Dubuque Office

John S. Nigg

Philip T. Kelly

Vice PresidentLoan Administration

Gladys A. Hueneke

Data Services Officer

Assistant Vice President

Scott A. Tibben

President, Communications
Properties, Inc.

Leo M. Mallie

Beverly J . Anderson

Agricultural Loan Officer

William G. Kruse

Vice PresidentAgricultural [.ending

Assistant Vice PresidentPersonnel Director

Trust Department

Chairman of the Board and
Chief Executive Officer

Sara J . Candy
Personal Banking Officer

Mary A. Plersch
Personal Banking Officer
Manager Asbury Office

John K. Lawson

Mark T. Mlddlebrook

Vice PresidentMarketing and Business
Development, Non-Bank
Services

Thomas J . Stecher

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

(1,005,000)
2,689,000
4,572,000
$206,146,000

Dale P. Repass

J . Bruce Meriwether

Dubuque,
Iowa

96,598,000

Capital ........................................... $ 4,800,000
Surplus...........................................
4,800,000
Undivided P rofits............................
6,675,000
Total Equity C a p ita l...................
$16,275,000
Other Liabilities..............................
3,507,000
Interest Bearing Demand Notes
to U.S. Treasury..........................
1,050,000
Federal Funds Purchased and
Securities Sold under Agreements
to Repurchase............................
15,066,000
Deposits.........................................
170,248,000
TOTAL .............................................. $206,146,000

Officers
Chairman of the Board and
Chief Executive Officer

FIRST
NATIONAL
BANK

$ 18,227,000
48,650,000
19,878,000
1,249,000
288,000
15,000,000

Edward A. Babka
President, Babka
Publishing Co.

Paul L. Britt
President,
Dubuque Stamping &
Mfg. Co.,

Roger J. Rhomberg
President, Rhomberg Fur Co.

Jam es E. Walsh
President, Bird Chevrolet Co.

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

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

Northwestern Banker, February, 1985

McGladrey Hendrickson Survey Shows—

Community Banks Changing To Keep Up
With Competitive Banking Environment
OMMUNITY banks are chang
ing dramatically to keep up
C
with today’s competitive banking
environment, according to a survey
conducted last year by McGladrey
Hendrickson & Pullen, which probed
the accounting and reporting prac
tices of 270 banks with assets of
$200 million or less located in 43
states.
The recent survey conducted by
the nation’s largest regional ac
counting and consulting firm shows
community banks are acquiring
more computers, tracking both their
customers and their assets and lia
bilities more closely, and even
changing their form of ownership in
order to meet today’s challenges.
“The same basic survey was also
conducted in 1980 and 1982,’’ says
James M. Koltveit, the firm’s coor
dinator of services to banks, “so
some of the comparative findings
seem to indicate trends.’’
“For example, nearly half (47 per
cent) of the banks responding this
year reported they own in-house
computers, while less than a quarter
(23 percent) did four years ago,’’ said
Mr. Koltveit. “This is an obvious re
flection of technological advances
that have allowed microcomputers
to cost-effectively process at least
some of the community bank’s fi
nancial information.’’
Mr. Koltveit said several other
trends indicated by the survey ap
pear tied to technological advances.
Nearly 63 percent of this year’s
respondents, for example, reported
that they attempt to measure and
match interest-sensitive assets and
interest sensitive liabilities. Back in
1982, less than 21 percent of the res
pondents had formal asset/liability
management programs.
Increased competition is also
behind another trend identified by
the survey, a shift to bank holding
company type ownership. “More
than half (53 percent) of this year’s
respondents were owned by bank
holding companies,’’ said Mr. Kolt
veit. “Four years ago, just over a
quarter (26 percent) were owned by
holding companies.
“ But independent ownership,
whether through a holding company
or not, continues to be the rule for
DigitizedNorthwestern
for FRASER Banker, February, 1985
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

community banks. The percentages
of independent ownership have re
mained virtually the same (74 per
cent) in all three of our surveys.’’
Mr. Koltveit says that finding
should be of particular interest to
those who predicted the demise of
community banking in a deregu
lated environment.
“The community bank isn’t dy
ing,’’ he says. “ I t’s finding ways to
cope with deregulation and main
tains its market niche by providing
cost-effective services that are re
sponsive to the needs of its custo
mers.’’
□

Ag Plus® Software
Caters to Farmers
Ag Plus® Software, as its name
indicates, specializes in ag computer
software designed for farmers,
ranchers, agribusiness people and
accounting services. Headquartered
in Ida Grove, la., the firm is headed
by Byron R. Peters, an ag consul
tant, who has developed seven pro
grams specifically oriented to ag
use, and he reports these products
now are in use across 22 states.
Mr. Peters says one of these named
Ag Count has a long list of special
features making it attractive and ef
ficient for ag use. Included are: Han
dles various size farms, whether sole
proprietor, partnership or corpora
tion; farm-designed record keeping
for livestock and/or grain farmers;
user defined categories, such as
crops, livestock, labor; spread sheet
for budgeting and tax estimate
reports; handles non-farm transac
tions, such as family living. A
number of other features address
the broad scope of micro usage.
Mrs. Byron (Peggy) Peters, mar
keting director for the firm, said Ag
Count is one of seven ag software
programs are available at this time
to farmers, bankers and other agri
business personnel:
• Ag Count—Farm accounting
system.
• Financial Statement—net worth/
balance sheet can be used by any
business or individual.
• Crop Production—determines
cash flow and profitability of entire
crop plan as well as up to six indivi

dual crops, which user names.
#
• Land Purchase—Figures cash
flow and profitability of land pur
chase. Up to four rotated crops can
be entered, then program evaluates
net return against three different#
loan arrangements.
• Loan Repayment—Amortiza
tion schedule determines payment
required for a loan. Requires only
four inputs; provides loan o p tio n ^
before seeing lender.
• Series 110—Nine different pro
grams, including hog and cattle
breakevens, grain storage costs, and
land loan (level principal).
®
• Invoice Maker—Generates an
invoice for any business, including
farmers who bill customers for seed
corn, or landlords for crop share
costs. Can handle discounts, credits,®
taxes, shipping, order numbers,
quantities and descriptions.
Ag Plus® Software is located at
906 South Main St., Ida Grove, la.
51445.
®

Sandusky Firm Signs
HBE for New Main Office

The Citizens Banking Company in
Sandusky, Ohio, has awarded a
$2,466,000 contract to HBE Bank
Facilities. The announcement of the
contract signing was made recentl
by Fred S. Kummer, president of the"
St. Louis-based design/build firm.
The new 23,300 square foot, threestory, L-shaped building is located
at the southwest corner of Wate
Street and Wayne Street in down
town Sandusky. In keeping with the
surrounding restored historic area,
HBE’s exterior design combines
native Ohio brick, limestone and
shingle covered mansard roof, giv
ing the facility a distinctive tradi
tional look.
The new project features on-site
parking, four drive-up teller lane
and a brick paved corner plaza
which leads through a two-story
arched entry into the first floor lob
by. Also included on the first floor
are seven lobby tellers, drive-m
tellers, safe deposit vault and loan
offices. Loan processing, bookkeep
ing, record storage and an employee
lounge with adjacent training room
are on the second floor. An executiv
office suite, including boardroom
and an adjacent meeting room, occu
pies the third floor, along with space
for future growth.
HBE expects to complete the pr
ject by February 7, 1986.

Compare For Yourself.
How Does Your Current
Credit Insurance Company
Measure Up Tb
North Central Life?
What
North Central
Life Offers

What
N orth Central
Life Offers

What Your
Company
Offers

0 L
L
L
L
EÍ L
Sí u
BT□
sín
Bl

What Your
Company
Offers

Fast, Computerized Claim
Settlements

Home Office Customer Service
Department

Insurance Plans That Fit Virtually
Every Loan Situation

Simple, Automated Premium
Reporting System

Special Programs for the Large
Borrower

Computer-based Measurement and
Control System to Help You Manage
Your Business

Nation-wide Toll-free WATS Service

Personalized Training For Your
Support Personnel

Instant, Over-the-phone Rate
Calculations For Difficult Loans

Simplified Procedures Manuals For
Administrative People

Instant, Over-the-phone
Underwriting approval for over-limit
coverages

Complimentary Sales Aids,
Brochures and Point-Of-Purchase
Materials

Sales and Insurance Training
Programs Designed for Bankers

Free Analysis of Your Current
Insurance Operations

Incentive Plans to Help Increase
your Productivity

“Captive Company” Capability

Professional, Experienced Account
Field Representatives

No Company, Anywhere in The United States, Can Give
Your Bank As Much Help in Running A Smooth, Profitable
Credit Insurance Operation As North Central Life
America’s #1 Credit Insurance Service Organization

Protection all ways

N o rth C e n tra l L ife In s u ra n c e C o m p a n y
NORTH CENTRAL LIFE TOWER, 445 MINNESOTA STREET, BOX 64139, ST. PAUL, MN 55164

In Minnesota call 800-792-1030
All other states 800-328-9117

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

And Delivered.
It began with an attitude—our active commitment to your
growing correspondent banking needs. And in our own minds,
we translated “correspondent” banking into “ relationship”
banking so that we can serve you better.
We promised you partnership. And then, through the
HUB system, we delivered with Client Executives who make it
their business to know you on a personal level. We were aware
that you had questions about technology so we held seminars
at our HUB locations to help you address your concerns.

We promised you competitive pricing and quality
services. And we guaranteed availability. That means you
can’t find better cash letter pricing anywhere else in the industry.
We clear local items on a local level. And, when it comes to

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Federal Reserve Bank of St. Louis

needs like loan participations, which are better served locally,
you’ve got optimum service. Where others have centralized,
we’ve remained flexible so we can meet your needs better
and faster.
We promised you “blue chip” security services. We
started by putting the clout of our Norwest name to work for
you. We combined our staffing of some 22 top-notch traders
and 45 sales professionals with state-of-the-art technology. Then
we organized the Capital Markets Group to reinforce our commit
ment. The result—our competitive pricing—speaks for Itself.
We promised you commitment. If you use the Financial
Institutions services, you already know this. If you haven’t tried
us yet, why don’t you let us prove ourselves to you? It’s our
philosophy that our actions speak louder than our words. Call
the HUB location nearest you.