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Vol. 11 No. 44

Des M oines, Iowa

February 21,1983

Dole, Regan Aim Pressure at Banks
REM ENDOUS pressure was be­
ing exerted late last week by
Sen. Dole and Treasury Secretary
Donald Regan against the commer­
cial banking industry by threaten­
ing them with increased taxes on
banks if they don’t quit stirring up
the public in the industry’s effort to
have withholding on interest and
dividends repealed. These voiced
threats served only to anger par­
ticipants in the A B A ’s Leadership
Banking Conference who were meet­
ing late last week at the H yatt
Regency H otel in Washington, D.C.
A t press time, those registrants re­
mained firm in their resolve to work
for repeal of the withholding law. In­
dications were that their efforts now
would be directed more to a con­
certed shift to trying to get Sen.
Dole and Secretary Regan to under­
stand banking’s position, rather
than being adamantly opposed just
because the administration feels
they should be the tax collectors.
1RS estimates the revenues from
10% withholding on interest and
dividends will recoup about $8
billion a year on dividend and in­
terest income lost for non-reporting.
A B A maintains that reporting and
matching of 1099s, authorized for
1RS by Congress, and which now in­
cludes jumbo CDs, would leave only
$1.5 billion estimated that is not
paid up front. To collect that re­
maining amount, the withholding


bill has saddled financial institu­
tions and dividend paying firms
with the burden of becoming tax col­
lectors. The A B A estimates this
cost for banking would exceed the
$1.5 billion that would be collected
and is penalizing banks.
A B A says the tradeoff of use of
float of these funds would not cover
such cost, and recognizes that with­
in a short time, a “ public outcry” by
later Congressional or government
personnel would demand that such
“ free” money be returned to the

Another “ Open Letter”
Sen. Charles Grassley
232 Russell Senate Office Building
Washington, D.C. 20510
Dear Senator Grassley:
Your time is valuable and so is mine, so I ’ll
be direct.
I have served the reporting of hanking
news in Iowa and the nation for more than 37
years and seldom, if ever, have I seen in­
dustry leaders as concerned as they are
about the provisions of withholding of 10%
on interest and dividends. In an effort to ex­
ercise their right to protest through the
system the taxation to which they object,
they are now being threatened vindictively
by Senator Dole and Treasury Secretary
Regan with additional bank taxation if they
exercise that right. W hat kind of leadership
is that? I damn near lost my life 38 years ago
this month fighting a war to make sure that
kind of system could not be imposed on the
free world—and now here you people in

Washington are pursuing that course! I can’t
believe it. Opposition, yes; but threats and
vindictiveness, never!
When it all washes out, it appears Trea­
sury and IR S stand to pick up about $1.5
billion additional that might not be obtained
with honest reporting. You people in Con­
gress have authorized reporting-and-matching but that hasn’t even been tried.
Since there is so much debate about who is
right, I offer you this suggestion. You and
the Iowa delegation to Congress should come
back home, spend two days in whichever
banks you choose around the state, visit with
the executive officers and find out how much
it is costing them to comply with this with­
holding bill, and the unbelievably compli­
cated steps they’ll have to follow—under con­
stant threat of additional penalties “ for
failure to comply,’’ etc.
That’s all I ask. Come back here your­
selves—or select your own C P A firm and get
such a report firsthand. I think you owe that
to the constituents here at home. IR S wants
bankers to become whistleblowers, but
wants the bankers to buy their own whistle
and pay for the tickets.
More than 400 bankers from all over the
nation are meeting now at the Hyatt Regen­
cy Hotel there in Washington. I f you truly
care about what concerned Iowans think
about a bill that will cost them thousands of
dollars to comply with, perhaps you may
wish to take the time to contact them now or
invite them to your office to discuss this mat­
ter. If you want help finding some banks to
visit, they will give you the list of the more
than 600 Iowa banks from which you can
I will appreciate a reply regarding this sug­
gestion and your position. I f it’s a form let­
ter, please save the postage.
Cordially yours,
Ben Haller, Jr., Publisher
The N orthwestern B anker
Des Moines, Iowa

where common transactions
are handled uncommonly well.



13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C.
Federal Reserve Bank of St. Louis


H o w did w e qet to
be first in Iow a?
By putting
Iowa first.

Dorothea Wolfe

An Affiliate of Northwest Bancorporation


Iowa News
The names of two candidates for
election as officers of the Iowa
Bankers Association at the conven­
tion next September were announced
at the IB A Group 1 meeting in
Sioux City February 12. W illiam
Logan, president, The State Central
Savings Bank in Keokuk, is a candi­
date for IB A president-elect. He is
currently chairman of Group 11,
which is expected to endorse him at
its meeting today (February 21).
Holmes Foster, president of Banks
of Iowa, Inc., Des Moines, was an­
nounced as a candidate for IB A
Group 1 bankers advanced Bruce
Kolbe, president, United Central
Bank & Trust Company of Sioux Ci­
ty, to Group chairman. Replacing



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him as secretary of the group is B ill
Hess, vice president, Iowa Savings
Bank, Coon Rapids.
John F. O’Neill, president and
chairman of First National Bank,
Burlington, is scheduled to be ad­
vanced to Group 11 chairman today
to succeed Mr. Logan. A new secre­
tary will be elected at that meeting.
BLO O M FIELD : In the February 14
issue of the W eekly Newsletter it
was incorrectly stated that Duane
R. Pearson, who has joined the
Davis County Savings Bank as vice
president, was formerly president of
Union State Bank in Winterset. He
was formerly vice president at that
C A M A N C H E : Camanche State
Bank will change its name to Hawkeye Bank and Trust effective April 1.
CO LFAX: Dean A Schantz has been
elected president and chief executive
officer of the First National Bank.
He succeeds James W. Eiler, who
will join United Central Bank in Des
Moines March 1 as vice president in
charge of loan administration. Mr.
Schantz has been with the bank one
year as executive vice president.
Also at the bank Iden W. Shissler,
vice president and farm rep, has
been promoted to executive vice
president, and Ila Mae Sprouse to
KEO KU K: F.E. Fritz Breitenstein,
vice president-commercial loans,
The State Central Savings Bank,
died February 13, four days after
suffering a heart attack. Mr. Breit­
enstein, who joined the bank Decem­
ber 1, 1937, following graduation
from high school, would have been
63 years old on the day of his burial.
M A Q U O K E TA : Craig Bentrott,
president of Hawkeye Bank &
Trust, formerly Jackson State Bank
and Trust Company, recently an­
nounced the promotions of Don
Henningsen to executive vice presi­
dent; Loren Lubben to vice presi-

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P.O. Box 450 405 Main Ames, Iowa 50010
D onald

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dent and head of the farm loan
department, and Loras H errig to
assistant vice president in the com­
mercial and real estate department.
M ISSO URI V A L L E Y : John A. Kovar, 87, president of Peoples State
Bank died February 9 after suffer­
ing a heart attack at work. He was
preceded in death by his wife, who
died four years ago. His son, Paul J.
Kovar, is a vice president of Peoples
State Bank. John Kovar had been an
Iowa banker for 69 years. He was
associated with Valley Savings
Bank in Missouri Valley until 1934
when he became vice president and
cashier of Peoples State Bank. He
had served as president there from
1974 until his death.
PE R RY: A t the February 8 annual
m eeting o f Perry State Bank,
Dwayne Hochhalter was promoted
to executive vice president; Dr.
Robert K. Gubser to vice president
and trust officer, and Vicki S.
Stanley to office manager and assis­
tant trust officer.
SC H ALLER: Thomas M clnem ey
has returned to State Bank of Schaller as vice president and cashier,
replacing Mark Wagner, who resigned
to enter another business. Mr. Mclnerney has been with a bank in the St.
Joe, Missouri, area for the past year.
SIO U X C ITY : First National Bank
w ill host a special retirement lun­
cheon Thursday, February 24, hon­
oring Charles H. W alcott, who plans
to retire from the bank as executive
vice president February 28. His
retirement w ill close out a hanking
career that has spanned more than
47 years. The luncheon w ill start at
11:30 a.m. at the Hilton Inn (12th
Floor). Those planning to attend
should call M ary at 712/277-0610,
according to Vice President Gary
SPENCER: A t the annual meeting
of United Central Bank, Larry
Owens was named executive vice
president and elected to the board.
Mr. Owens joined the bank in the
summer of 1982.
STRUBLE: It was recently an­
nounced that the Le Mars Savings
Bank, Le Mars, will purchase the

Supplement to Northwestern Banker Newsletter 2-21-83

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Investment Banking Division

of Kansas C itv n.a.
Member FDIC

United we grow.logether.
10th and Grand, P.O. Box 226, Kansas City, Missouri 64141 • (816) 556-7200
Federal Reserve Bank of St. Louis
Federal Reserve Bank of St. Louis

Send Your News Today to the NORTHW ESTERN BANKER


306 Fifteenth Street

Staff Changes
Business Campaigns
Mergers, Consolidations
New Departments at the Bank
Remodeling or New Building

BANK .....................................................................................
OFFICER .....................................................................TITLE

Federal Reserve Bank of St. Louis


Open Houses
Anniversary Parties
Deaths or Retirements
Speeches Made by Bank Officers
Special Announcements to the Public


ident. Those five divisions now w ill
comprise First National’s entire
banking operations.

Professional ...

SCOTTSBLUFF: Promoted to vice
president status at First State Bank
were: M. LeRoy Worden, agricul­
tural loans, and Sheron Dinnel, in­
stalment loans.

Call Mark Christen for
any correspondent service.
Call toll free (800) 622-7262

Valley National Bank «


Member FDIC

assets of Farmers Savings Bank, tion to name O.J. McDougal, Jr.,
Struble. The two banks w ill merge as chairman and Douglas E. Oakeinto one under the ownership and son as president. Mr. McDougal
direction of the Le Mars Savings joined the management of C ity Na­
Bank, with a bank office remaining tional in 1957. Mr. Oakeson has
in Struble under the present man­ served as executive vice president
agement of Regina Garding. This since 1981. Prior to joining the
agreement is subject to approval, bank, he was associated with the
which is expected to take place National Bank of Commerce in Lin­
coln for eight years.
before June 1.

Nebraska News
The Nebraska unicameral legis­
lature passed LB58 by a vote of
30-17 on February 16 and sent it
that day to Governor Robert Ker­
rey, who had stated in earlier
testimony he would sign such a bill
if it was enacted. LB58 authorizes
the formation of multi bank holding
companies in Nebraska, a move that
has been bitterly contested for the
past decade by Nebraska indepen*
dent banks.
Each M BHC may hold 9% of the
total deposits in commercial banks
and savings and loans in the State of
Nebraska. The bill also provides
that any bank may establish an ad­
ditional three full-service detached
facilities within its home community
by 1985, bringing this total to five.
An amendment also authorizes banks
to acquire a cooperative credit asso­
ciation within its'hom e or a con­
tiguous county.

IM P E R IA L : Donald R. Banks has
been promoted from vice president
to senior vice president of Chase
County Bank & Trust Company. He
has been with the bank since 1974.

Minnesota News
A t 7:10 p.m., February 9, 1983,
Commissioner o f Banks John D.
Chisholm closed the State Bank of
Baraum, Baraum, and appointed
the Federal Deposit Insurance Cor­
poration (FD IC) as receiver. Mr.
Chisholm’s statement on the closing
“ The State Bank of Barnum was
chartered as a state bank by the
State of Minnesota and opened for
business on M ay 6,1940. A t the end
of December 31,1982, the bank’s de­
posits totaled $13,056,000.
“ The Commissioner indicated the
problems in the bank which led to its
closing were the result o f gross mis­
management and were not related to
current economic conditions. The
bank, rather than relying on local
deposits and loans, went into the
open market and purchased out-ofstate brokered funds and made sub­
stantial investments in loans se­
cured by time-share mortgages.
These mortgages were of question­
able value at the time of purchase
and subsequent failure by the seller/servicer to remit payments as
agreed has resulted in a substantial
loss to the bank contributing to an
impairment of its capital and to the
determination that it is unsafe and
inexpedient for it to continue busi­
* * *

O M AH A: The executive committee
of First National Bank has announced
a corporate reorganization and a
series of executive and management
promotions. Named executive vice
presidents were Bruce R. Lauritzen,
J. W illiam Henry and Dennis A.
O’Neal. Promoted to senior vice
president level were James L.
Doody, head of the BankCard divi­
sion; Elias Eliopoulos, head of data
processing and operations, and
Robert E. Johnson, Jr., head of
trust, pension and profit sharing
division. A new corporate and finan­
cial institutions division, which now
includes correspondent banking, is
headed by Charles E. Fries, Jr., vice
president, who was also named to
The Minnesota Bankers Associa­
the bank’s board of directors. A new
retail banking division, taking in in­ tion Communications Committee
stallment lending, mortgage lend­ and the Minnesota Chapter of the
H ASTIN G S: City National Bank ing, leasing and marketing, is head­ Bank Marketing Association is co­
and Trust Company has taken ac­ ed by Vollis E. Summerlin, vice pres­ sponsoring the 1983 Marketing Con­
ference March 2 at the Holiday Inn
International, Bloomington.
The conference w ill begin with
registration at 8:30 a.m. followed by
speakers from 9-12:00, luncheon at
12:00 and speakers from 1-4:00 p.m.
Leroy Bell or
Conference speakers include P.W.
Colbert, Jr., president of American
■ wmwm
a com puterized
Milt Hennick
State Bank, Bloomington; Robert
local billing /cre dit service
D. Dye and Vickie Unangst, both
vice presidents w ith Financial
Shares Corporation, Chicago, and
Stoffels, marketing officer,
315 East 5th St. • Waterloo, IA 50704
First Bank, Grand, St. Paul, and

An important new profit center
for your bank:

National Bank of Waterloo
Federal Reserve Bank of St. Louis


chairwoman of the M B A-B M A 1983
Bank Marketing Conference.
Registration fee is $60. For more
information contact the Minnesota
Bankers Association, 332 Baker
Building, Minneapolis, Minn. 55402.

Count on Ron K iel.
For the best in ag overline, data process­
ing and cash management services,
along with expert advice and guidance,
call Security Correspondent
Bank Officer Ron Kiel at

B RO O K LYN PA R K : O.J. Spanier
has been elected senior vice presi­
dent of the Brooklyn Park Bank.
Mr. Spanier is a 1982 graduate of
the Central States School of Bank­
ing in Wisconsin and has been with
the bank since 1973.
M IN N E A PO LIS: Metropolitan State
Bank changed its name to M etro­
politan Bank, effective February 10.
M IN N E A P O L IS : F&M Marquette
National Bank w ill host its First An­
nual Correspondent Banking Con­
ference March 3-4 at the H yatt Re­
gency Hotel. Titled “ Capitalizing on
the Changes,” the conference reg­
istration starts at 11:00 a.m., and
the general session opens at 1:00
p.m. with a welcome from F&M
President Carl Pohlad. Four speak­
ers w ill address the afternoon ses­
sion, with W illiam C. Rosacker,
senior vice president, as moderator.
Speakers and titles are:
“ Outlook for Interest” —Charles
Steindel, staff officer/senior do­
mestic economist, First Chicago
Corp., Chicago; “ An Introductory
Session on Financial Futures” —Jo­
seph Cole, associate economist,
Chase Manhattan Bank, New York;
“ A sset and L ia b ility Manageent” —Ms. M ary Lovejoy, assistant
vice president, F irst Chicago;
“ Stress Management” —Mrs. Karen
Grote, The Training Co., Inc., St.
Dinner and dance, from 7:30-11:00
p.m., w ill feature remarks by Mr.
Pohlad, and music by The W olver­
ines, featuring big band dance
On Friday, March 4, after a Con­
tinental breakfast, bankers may at­
tend one of three workshops. Each
workshop will be repeated twice so
guests may take in all three. They
are: M ergers and Acquisitions,
F N M A and Its Marketing Capaci­
ties, and Marketing and Incentives
for Respondent Banks. A guest
speaker will address the closing lun­
cheon, followed by closing remarks
made by Mr. Rosacker.
M IN N E A PO LIS : David G. Handy
has joined First Bank Minneapolis
as senior vice president and head of
its national banking group. He also
member of the bank’s policy and
Digitized is
Federal Reserve Bank of St. Louis

Sioux City, Iowa 51101 Member EDI.C.

planning committee. Mr. Handy has
been with Continental Illinois Na­
tional Bank and Trust Company of
Chicago since 1968, most recently as
vice president and manager of its
Minneapolis regional office.

senior positions including lending,
trust and corporate development.
He is also currently a member of the
board of directors.

M O NTEVID EO : Kathleen Michaelson has been promoted to vice presi­
dent of First National Bank. Ms.
Michaelson, who joined the bank in
1979, is responsible for computer
operations, audit and compliance.
She previously served as vice presi­
dent and managing officer of the
State Bank of Boyd.

FARGO: First Bank of North Da­
kota (N .A .)—Fargo has announced
the promotion of Edwin W. Chalus
to vice president and manager of the
Southwest Branch, and John A.
Bridgeford, Jr., to vice president in
the commercial loan department.
Named assistant vice presidents
were: Gerald L. Regstad, personal
banking; Steven G. Lovas, commer­
cial loans, and Mark A. Anderson,
credit review.

Illinois News
Six banks in four Illinois cities
recently signed final merger docu­
ments required for the creation of
M idwest Financial Group, Inc.,
downstate’s largest bank holding
company. The transaction unites
Commercial National Bank, Pros­
pect National Bank and University
National Bank, all in Peoria; Illinois
National Bank of Springfield; First
Trust and Savings Bank of Kanka­
kee, and First National Bank in
Champaign. Each bank w ill con­
tinue to retain its own name and
The M FG executive committee
will consist of: David E. Connor,
Midwest Financial Group President;
A.D . Van Meter Jr., president, Il­
linois National Bank of Springfield;
W alter J. Charlton, chairman, First
Trust and Savings Bank of Kanka­
kee, and W illiam C. Fox, chairman,
First National Bank in Champaign.

South Dakota News
SIO U X F A LLS : Curtis W. Kuehn,
senior vice president of The First
National Bank, has been elected
president and chief operating of­
ficer, succeeding W.S. Baker, who
was elected chairman and continues
as chief executive officer of the
bank. Mr. Kuehn joined the bank in
1952 and served in a variety of

North Dakota News

Wyoming News
SH E R ID A N : First W yom ing Bank,
N.A., has announced the promotion
of Bernard A. Spielman to vice
president and Caren V. Smith to
money manager. Mr. Spielman joined
the bank in 1977 as instalment loan
officer. Ms. Smith also joined in
1977 as instalment loan secretary.

If you are seeking a quali­
fied officer for your bank
.. . or an advancement for
yourself, respond in con­
fidence to:
Freeland Financial
Service, Inc.
1032 Carriers Bldg.
Des Moines, Iowa 50309

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per week. Tennis court, pool, sauna
and jacuzzi. Call:
Treecondo Associates,

OFFICE MANAGER—two to four years loan experience
necessary. Ag background and bank experience preferred.
Excellent opportunity for self-starter. Send resume to
Robert E. Chittenden, President, Farmers Savings Bank,
Box 670, Mitchellville, Iowa 50169.
$75 million bank in South Dakota. Position reports to
President. Write file SBN, c/o Northwestern Banker.
COMMERCIAL LENDER for $75 million independent bank
in South Dakota college community. Will be member of
senior management team. Write file SBO, c/o Northwest­
ern Banker.
OPERATIONS OFFICER— Immediate opening as a cashier
of $14 million southern Minnesota bank. 3-5 years bank
operations experience necessary. Good background in ac­
counting, micro-computers, and farming are important.
Reply to file SBR, c/o Northwestern Banker.
w ill require an individual who w ill spend 70 percent time
outside the bank. We are a $30 million bank in a rapidly
growing area of Kansas City. Attractive salary. Send
resume to file SBW, c/o Northwestern Banker.
OFFICER to develop and direct personal banking depart­
ment. Qualified applicant will possess administrative
ability, a broad knowledge of personal investment alter­
natives, consumer lending and community relations. Sal­
ary commensurate with experience. Write file SBV, c/o
Northwestern Banker.
group of six banks is looking for a commercial loan officer
for its bank In Nebraska City, Nebraska. Prefer 3-5 years
commercial loan experience. Send resumes' to Paul H.
Albrecht, President, Otoe County National Bank, P.O. Box
458, Nebraska City, Nebraska 68410.
AG OFFICER—2-3 years experience with strong ag lend­
ing background. Northwest Iowa $55 million bank. Write
file SBX, c/o Northwestern Banker.
Progressive twenty million northwest Iowa independent
bank has opening for EXPERIENCED OFFICER (2ND PER­
SON). Applicant must have five to seven years experience
in agriculture and commercial loan background, along
with operations. Salary compensated according to ex­
perience. Write file SBY, c/o Northwestern Banker.
BANK OFFICE MANAGER—Ag loan experience, in­
surance experience, or both desired. Member of Iowa
multi-bank holding company. Excellent opportunity for ad­
vancement. Send resume to Raymond L Graalfs, Senior
Vice President, State Bank and Trust, P.O. Box 68, Council
Bluffs, Iowa 51502, or call at (712) 323-7521.___________(PA)
Affiliated Midwest Bancs, Inc., a progressive group of six
banks, is looking for an AGRICULTURAL LOAN OFFICER
for its bank in Boone, Iowa. Prefer 3-5 years agricultural
bank loan experience. Salary commensurate with ex­
perience. Send resumes c/o Robert Scott, president,
Boone State Bank & Trust Co., P.O. Box 428, Boone, Iowa

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People Specialists
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Phone our banking specialist: Linda at
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(If no answer 712/779-3567)



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3 window solid walnut teller counter, w ith marble deal
plates, com pletely wired, 6 ' side counter, and connecting
gateway. Excellent condition. Available 2-15-83. Contact
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Call J. Van Dyke, Banc National, 512/250-0794.
NCR SORTER. Model 6770. (14) pocket. 1200 dpm. Available Mid-March. W ill sell for $60,000 or best offer. Under
continuous maintenance. Call now. 512/250-0794.
PITNEY BOWES mailing machine and scale. $1500 or best
reasonable offer. Call Jody 512/250-0794.

Call me Toll Free to discuss
our 1983 Building Plans.
Phone 1-800/922-2590
Paradise Properties, Box S
Dillon, CO 80435

Individual wants to acquire Iowa or Nebraska bank. Con­
ta ct Mike Keim at Thurman State Bank, Iowa, or phone
402/397-5161. Replies held in confidence.

All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma
Head of Lending and Country Bank
#2 Man, head of commercial loans in $70mm + bank
Chief Financial Officer for large holding company
To $60,000
Commercial Vice President, métro area
$48,000+ bonus
President, new charter, small town
$35,000 + car
Ag Lender/Vice President, $50mm bank
President, $20mm rural bank
$32,500 + car
President, $15mm bank, smali town near city
$35,000+ bonus
Auditor, $25mm bank, small town near city
President, $8mm bank, smal I town
$35,000 to $40,000
Positions available change as more openings become avail­
able or as positions are filled. If you are interested in making
an advancement or change in your present situation, as a
candidate registered w ith me, you w ill be informed as posi­
tions come available that would appeal to you based on
what YOU want in a bank, in salary, in location, and in size
of town or city. I do not reveal your name to a client bank un­
til you are interested in interviewing.
Eighteen years of banking service as President of both rural
and m etropolitan banks enables me to find the right bank­
ing environment for you. Phone or send resume to: Don W.
Schooler, 901 A. West Jackson, Ozark, Missouri 65721.
Phone (417) 485-6020.

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R.EB. & Associates
Executive Search Consultants
13425 A. S t, Omaha, Nebraska 68144
Phone: 402/333-8248 or 333-6604

714 U.C.B. Building, 515-283-2545
Des Moines, Iowa 50309


Estate Appraisals
Purchase of
Sale of Rare Coins
R e lia b le and respected service
fo r over 20 years
U se d b y b an k ers
th rough out the m idwest

Ben E. Marlenee
913 L o c u s t
D e s M o in e s , Io w a 50309

CEO—$50MM com m unity bank. A dm inistrative ex­
perience and solid commercial lending background re­
PRESIDENT—ag oriented bank close to large metro area.
Prefer ag related degree and minimum ten years banking.
PRESIDENT—small com m unity bank located in county
seat of 5,000 population. Business development and prov­
en commercial lending experience needed.
COMMERCIAL LOAN— large suburban bank w ith superior
growth and earnings record. Minimum seven years com­
mercial lending experience.
OPERATIONS— medium size urban bank seeks operations
manager fo r transit/proof, bookkeeping, custom er service
AGRI LOAN—senior office r for large rural bank. Handle
lending, farm management and marketing duties. $35,000
Your inquiry w ill be held in confidence. Forward resume'
and salary history to:

of Kansas City
2024 S w ift - Box 12346
North Kansas City, MO 64116
“ Serving the Banking Industry Since 1970”

Vol. 11 No. 44 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306
Fifteenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second class postage paid at
Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address.
Federal Reserve Bank of St. Louis