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Vol. 14 No. 45 Des Moines, Iowa February 24,1986 Sen. Gam Seeks Regulators’ Comment On A g Task Force Recommendations e m b e r s o f the a b a —i b a a A g Task Force (Jan. 13 issue) held their second meeting in W ash ington, D.C., February 13-14 to reaf firm the recom m endations they made at the initial m eeting in Dallas January 14-15, and to meet with bank regulators and Treasury repre sentatives to explain their program and seek their support. This was part o f the beginning effort to sell the Task Force recommendations to members o f Congress. Sen. Jake Gam (Rep., Utah), chairman o f the Senate Banking Committee, has called for full com mittee hearings on the ag crisis to start March 6 and has requested the Fed, FDIC and Comptroller o f the Currency to send him a letter by that date with their analyses o f the recommendations. The FDIC has given its response to Sen. G am and the other two regulators are ex pected to do so at an. early date. An A B A spokesman said “ at this time there seems to be a unified front developing,” referring to the join t banker effort. The A g Task Force was created by A B A President Don Senterfitt, vice chairman o f SunTrust Banks, Orlando, Fla., under the chairman ship o f Randall A . Killebrew, vice chairman o f A B A ’s Government Re lations Council and president o f M To remedy this, and keeping in mind the Congressional massive bailout o f the Farm Credit System on December 23, 1985, the Task First National Bank, Petersburg, Force states, “ Our first priority as a 111. There are nine bankers from four means o f preserving banks’ capital related A B A divisions. In addition, is to change regulatory accounting Mr. Senterfitt’s invitation to the In procedures and enable prudently dependent Bankers A ssociation o f managed banks to amortize their Am erica to join the Task Force to loan losses over a multi-year period. present a unified front was accepted Such a procedure is relatively simple and its three-man delegation is led to administer, would assist a broad by IB A A President B.F. “ Chip” segment o f banks and their borrow Backlund, president, Bartonville ers, and would entail no direct gov Bank, Peoria, 111. (Names o f the full ernment cost.” com m ittee were published in the Two other options to maintain January 13 issue.) capital were listed as “ regulator-as A t their Dallas meeting, Task sisted injections o f capital into cer Force members adopted their formal tain troubled banks” (e.g., with recom m endations and these in FDIC injection in the form o f debt cluded: or equity), and “ unfunded capital 1. Stabilization o f Bank Capital. certificates similar to net worth or 2. Stabilization o f Agricultural income capital certificates currently Borrowers. used for certain thrift institutions.” 3. Stabilization o f Farm Real Es It was stated that careful atten tate Values. tion would need to be given to some The “ Recomm endations” docu proposed 1RS changes that would ment dated February 4, points out eliminate carrying the net operating that “ extraordinary charge-offs” for losses back 10 years and lim iting ag loans losses, running at an an this to three years, with any excess nualized rate in excess o f $1 billion loss being carried forward. in 1985, “ are eroding the capital On Recommendation 2, the Task structure o f many agricultural Force says, “ we recommend further banks as the loan losses are de expansion o f the Farmers Home A d ducted from the banks’ available m inistration agricultural loan gua capital.” The document points that rantee program s and authority. In this reduces “ both the total capacity the current budgetary situation, the o f the bank to extend credit and the Fm HA loan guarantee program is size o f individual loans that the the least costly means o f stabilizing bank can m ake.” and extending agricultural debt. In Call on the “Experienced Professionals” Ready to meet your correspondent needs. ^zFirsTier Banks First N ational Lincoln 13th & M Streets, Lincoln, Nebraska 68501 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member FD IC 2 Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 HORWEST BANKS Member FDIC Teamwork: one of the reasons we’re first in Iowa. Dorothea Wolfe M ark Conway addition, expansion o f the $490 mil lion interest rate buy-down program included in the 1985 Farm Bill would provide m ajor cash flow assis tance to agricultural borrowers at minimal direct cost. W e also need clarification this year o f the Fm HA preparedness to provide direct loans to qualifying farmers who cannot be financed in full by commercial lend99 ers. On Point 3, the Task Force stated “ W e seek the development o f an in stitutional secondary market for longer term real estate loans origi nated by commercial banks. A se condary market would provide ac cess to additional funds and diver sify the risks and returns from farm lending. One option is to pool ASK DENNIS EARHART to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FmHA-guaranteed loans for resale as m ortgage-backed securities to in vestors.” The Task Force also said ware housing o f problem ag loans and/or acquired assets deserve further study, as well as perm itting banks to hold real estate assets for a longer period o f time to stabilize the mar kets. □ lunch is at noon, and the afternoon presentation is at 12:30. Registra tion, which includes handouts, exhi bit hall entrance, refreshments, the reception, two breakfasts and two lunches, is $100 for IB A members, $125 for subscribers and $150 for nonmembers. Register through the IB A office. AM ES: Robert O. Grathwohl, who was executive vice president at United Bank & Trust until late last year, recently joined Citizens Bank and Trust Company o f Chillicothe, M o., as president. Mr. Grathwohl was president o f U niversity Bank & Trust Co. in Am es at the time o f its merger last June with Union Story Trust & Savings Bank to form the new United Bank & Trust. CED AR FALLS: Recent prom o tions at Cedar Falls Trust & Savings Bank include tw o vice presidents. D orothy D. Heine has been pro Iowa News m oted to vice president and cashier. A t the Group 11 m eeting in Bur She joined the bank in 1963 and pre lington February 17, Edward K. viously was branch manager o f the Johnstone, president o f Keokuk College Square office and head o f the Savings Bank & Trust Co., Keokuk, consumer loan operations. Thomas officially took over as Group chair Damgaard has been prom oted to man. He replaces W illiam R. Ber- vice president and head o f the con nau, president, Peoples Savings sumer loan operations. He joined the Bank, Crawfordsville, who was ap bank in 1976. pointed in January as Iowa superin tendent o f banking. Succeeding Mr. CLINTON: Prom otions at Iowa Johnstone as Group secretary is State Savings Bank in Clinton in Daniel H. Doyle, president, W ell cluded two prom otions to vice presi dent. Richard J. Carlson, who joined man Savings Bank. the bank in 1979, was prom oted to ♦ # * The Iowa Bankers Association executive vice president and secre will sponsor its 1986 A g Credit Con tary. Jurgen R. Duhr, who came to ference on March 17-19 at the Sche- the bank in 1981, was prom oted to man Center at Iowa State Univer vice president cashier. sity in Ames. Registration on the DES M OINES: W illiam A . Wish17th begins at noon with afternoon man has been elected senior vice sessions starting at 1:00 p.m ., an ex president and com ptroller o f Valley hibit hall reception at 5:00 and din National Bank. He has been with ner on your own at 6:30. Continental the bank for 25 years, m ost recently breakfast on the 18th is at 7:30 with as vice president and com ptroller. sessions beginning at 8:15, noon lunch, workshops starting at 1:30 PATON: Isabelle Nuckolls, widow p.m ., and dinner on your own at o f Denver Nuckolls, who died Janu 5:00. On the 19th breakfast is at ary 26 o f cancer, has been advanced 7:30 a.m., sessions begin at 8:00, to succeed him as president o f Com- Inquire about FLEX-O^PAY® ■ a com puterized billing/credit system ■ generates additional incom e from present staff and equipment ■ means o f increasing your local comm ercial business ■ plan developed by bankers for bankers CALL: 1-800-772-2411 WRITE: L eR oy Bell The National Bank o f W aterloo 315 East 5th Street W aterloo, IA 50703 Bond portfolios woridngat full power. The performance of your bank’s bond portfolio is based on sound thinking and quality investments, investments that will consistently work at full power to contribute to the earnings of your bank. Bond portfolio recommendations have been our specialty since the 1920s, and our track record is enviable. Although investment vehicles and markets have changed, we’ve maintained our high standards. The result is success for our customers and a reputation that precedes us. For confidential consultation about the benefits of investment banking at United Missouri, call (816) 556-7200 today. fey U N ITE D M ISSO U R I B A N K of Kansas C ity, n.a. Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MÆT P.O. Box 226 Kansas City, Missouri 64141 Supplement to Northwestern Banker Newsletter 2-24-86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 Estate Appraisals Purchase of Collections * * * BANKERS * * * Qualified bankers available. Experience ranging from ag/commercial lenders, operations and top level bank executives. Call or write. Sale of Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest Ben E . Marlenee Coins 913 Locust D es M oines, Iowa 50309 515-243-8064 • • munity State Bank. Mr. and Mrs. Nuckolls had worked together for the bank for 45 years and had owned the bank a number o f years. Charles Sarazen recently joined the bank as executive vice president and CEO. He was form erly executive vice president and trust officer at First Inter state Bank in Algona. In addition, the Community State Bank board elected Richard Happe as assistant vice president. Nebraska News 0 • • ELK CREEK: Approval has been received to change the name o f State Bank o f Elk Creek to Johnson Coun ty Bank, Elk Creek, with an office in Tecumseh. The State Bank, as re ported in last week’s issue, pur chased the failed Johnson County Bank o f Tecumseh from the FDIC February 7 when the latter bank was closed. State Bank o f Elk Creek, with $6 m illion in assets, assumed Johnson County Bank’s $18 million in deposits and loans o f about $10.5 million. Minnesota News ^ ^ * * * Professional Service ** * Confidentiality • ‘ •Competitive Fees-Employer Paid r H E IT (515) 394-2325 MIDWEST PERSONNEL Banking Specialist Route 3-Box 48 New Hampton, IA 50659 Farin & A ssoc., and Tom Christen sen, sales and marketing director. It will begin at 9:00 a.m. and conclude at 4:00 p.m. Contact the M B A for more information. * been elected president and a director o f Norwest Bank Old St. Anthony, N .A. He has been with Norwest since 1963, m ost recently as a senior vice president o f the bank. * * The M B A will hold a Productivi ty/C ost Containment W orkshop on March 13 at the Sheraton Airport Inn, Bloom ington. Two speakers will conduct the program. Karen A. A lf, president o f Karen A lf & A sso ciates, is the former manager o f the financial institutions consulting practice o f Peat, Marwick, M itchell & Co. Richard Franzmeier, vice president o f The Highland Bank of St. Paul, is chairman o f the M B A operations committee. DULUTH: A t First Bank Duluth, Helena Jackson was prom oted to vice president, trust—legal. She joined the bank in 1980 and m ost recently served as assistant vice president and trust officer. In addi tion, Dan Wallin was prom oted to vice president, com m ercial loan manager. He has served at First Bank Duluth and First Bank Duluth W est since 1970, m ost recently as vice president, com m ercial loan manager. The Minnesota Bankers Associa M IN N EAPOLIS: Thomas A . W elch tion will present a Strategic Plan has been elected president and a di ning Seminar in three locations: rector o f Norwest Bank Camden, March 10 at the Brainerd Holiday N .A. He has been managing Nor Inn, March 11 at the Bloom ington west Bank Camden since 1983, hav Em bassy Suites Hotel and March ing joined the bank in 1981. In addi 12 at the North Mankato Holiday tion, Gary Boylan has been elected Inn. The seminar, specially geared vice president/retail banking. for community bank CEOs, will fea ture Tom Farin, president o f Easley, M IN N EAPOLIS: Don Johnson has https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis L IN D A M ORA: M .D. “ Pete” M cVay has been elected a director o f Kanabec State Bank, filling the vacancy created by the recent death o f Rus sell Strandlund, according to Chair man O. Jay Tomson. Mr. M cVay, who is the retired president o f Car gill Co. in Minneapolis and a former director o f Norwest Bank Minneapo lis, owns and manages a large farm ing operation in the M ora area. A d ditionally, it was announced Janu ary 30 (February 3 Weekly News letter) that Mr. M cVay heads a group that has purchased Norwest banks in Dawson, Luvem e, M onte video and Ortonville. Mr. M cVay also has extensive ranch holdings in Kansas and a 7,000 acre ranch in Australia, where he will spend the month o f March. South Dakota News The South Dakota Bankers A sso ciation is sponsoring an IR A Semi nar to be held on March 25 at the Rapid City Ramada Inn and on March 27 at the Sioux Falls Ramada Inn. Presenter is Randy Heidmann o f Collin W. Fritz and Associates. Registration is at 8:00 a.m. with the morning session starting at 9:00 a.m., lunch at noon, and afternoon sessions from 1:00 to 4:30 p.m. Fee is $95, and includes breaks, lunch and materials. Register through the SDBA office. 4 BANKING The Omaha National Bank In Fort Collins, Colorado, seeks an AGRICULTURAL LOAN OFFICER to develop new busi ness, maintain bank portfolio and service customers. Qua lified candidates should have 3-5 years experience in all phases of lending and bank operations with an emphasis in livestock and crop production. A degree in finance or related area, the ability to communicate effectively and strong marketing skills are required. If qualified, submit resume and salary history to: ^ Omaha National A FirsTier Bank 1700 Farnam St. Omaha, Ne. 68102 $55MM Northeast Iowa Bank needs an experienced EX ECUTIVE VICE-PRESIDENT. Send resume to WEA c/o Northwestern Banker. (PA) BANKING OFFICER— Positions available In the Rocky Mountains, southwest and midwest. All fees employer paid. Contact Dunhlll of Fort Collins, 2120 South College Avenue, Fort Collins, CO 80525. Phone: (303) 221-5630. (PA) AQ LOAN OFFICER—$25M bank In southwest Minnesota town of 2,500 needs Ag Loan Officer Immediately-minlmum of 2 years experience necessary-salary commensu rate with experience-excellent opportunity for career ad vancement. Send resume to file No. WEK c/o Northwest ern Banker. (PA) COMMERCIAL LOAN OFFICER—position with progres sive Iowa City Bank. Minimum 3 yrs. lending experience with college degree. Excellent benefit package with salary commensurate with experience. Send resume and salary requirements to File No. WEJ, c/o Northwestern Banker. ______________________________________________ (PA) SENIOR MANAGEMENT position In small, but growing, Colorado bank. Must be experienced in commercial lend ing. Send resume to file WEL, c/o Northwestern Banker. ______ _______________________________________ (PA) FOR SALE 3-BURROUQHS L-9000—2-NCR 8 Pocket proof machines; 1 - Bell & Howell Director II Microfilmer; 1 - Bell & Howell SRM Microfilmer; 1 - Bell & Howell Classic Microfilmer. All for sale due to mergers. Contact Dale L Adams at 402-362-7411 or P.O. Box 69, York, NE 68467. (FS) NEAR NEW BRANDT CURRENCY COUNTER. Call 515756-3361. (FS) BANK ExVP - $60,000 $80mm Rocky mountain Bank. SrLO-Commerclal & Ag. Must have CEO potential. Employee Stock Plan. Excellent Perks. Contact Barbara J. Rltta at PROFESSIONAL RECRUITERS, INC. P.O. Box 24227 Omaha, NE 68124 1-800-225-2885, In NE (402) 397-2885 POSITIONS AVAILABLE AG LENDER People oriented, aggressive Indiv with 2 + yrs FHA exp and good knowledge of ag needed for high quality Institu tion in excellent location. Great benefits and career poten tial. $28K. TRUST OFFICER Senior trust spot In $200m + com’l bank. Profitable dept has an opening due to promotion and growth. Located in key fln’l community. Offers excellent growth potential. $40K. PRESIDENT Overall bank mgmt In a $30m + rural bank located near large community offers great oppty for proven profes sional looking to move Into top notch organization. Part of strong holding co looking for progressive leaders. $40-50K. FOR FURTHER INFORMATION FOR THESE & OTHER POSITIONS RESPOND IN CONFIDENCE TO: KURT R06ENCRANTS Equal Opportunity Employer (515) 244-4414 WORLD’S LARGEST BANKING, EDP, & FINANCIAL SPECIALISTS ALL FEES COMPANY PAID TRUST OFFICER for northern Iowa, prefer law degree . . . . ......................................................................Salary to $35,000 SENIOR CREDIT ADMINISTRATOR for Minnesota, 5-7 years experience preferred..................................... Salary to $35,000 EXECUTIVE VICE PRESIDENT for$60M Iowa bank. Should be qualified to become C E O ........................ Salary $50,000 VICE PRESIDENT A AG LENDING OFFICER, possible #2 position. Good loan experience record preferred .............. ......................................................................Salary to $40,000 EXECUTIVE VICE PRESIDENT for community bank In northwest Io w a ............................................................. Salary$35,000 TRUST OFFICER for central Illinois bank, prefer law de gree ..................................................................Salary $35,000 EXECUTIVE VICE PRESIDENT for $50M bank. Requires op erations and leqdlng experience ................. Salary $40,000 BANK OPERATIONS Growth opportunity for individual ready to assume responsibility for operations manage ment for metropolitan bank with branches. Candi dates must be degreed with minimum of 7 years experience. Our client, headquartered in Des Moines, Is part of a financially solid multi-bank in stitution, respected throughout the state. For con fidential consideration, direct your resume to T.W. Textor and include salary history. No fees, we are retained by management. Personnel, Inc. 2626 Ruan Center Des Moines, Iowa 50309 COMMERCIAL REAL ESTATE OFFICER for major holding company bank. Must know secondary market procedures ................................................................................Salary open VICE PRESIDENT RETAIL BANKER for major holding com pany bank ........................................................... Salary open SENIOR COMMERCIAL LENDER for key Iowa bank, excel lent opportunity for right person.......................Salary open PRESIDENT A CEO for $50 million asset midwest bank. Good earner with a clean po rtfo lio.................. Salary open PRESIDENT A CEO for $40 million asset bank. Requires ability to handle some problem loans ............ Salary open AG LOAN OFFICER for eastern Iowa bank. Requires 2-5 years lending experience............................................. Salary$25,000 AUDITOR/CPA for Iowa holding company Salary to $30,000 cdfoCctsx a n d c^ f’5.±oaiats.± Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 Donald E. Holder, Principal BANKING I COMMERCIAL LENDER for $ Vi billion bank. Handle ij $10-15mm In diverse portfolio. Large bank holding M company with excellent benefits. Large, beautiful | city .....................To $35,000 ..................... Call Bruce CORRESPONDENT BANKER. Strong lending back: ground? Major holding company In metro area needs you. Travel within 100 mile radius. Excellent benefits.................... $40,000 ..................... Call Dean | VICE PRESIDENT/CLO MANAGER. Solid commer| clal lending can qualify you for excellent opportuni| ty! Supervise six people in $150 + mm bank located ^ In cultural university oriented community . To $40,000 .........................................................................Call Mar] | COMMERCIAL BANK OFFICER. Large metro bank. Major holding company that promotes from within. Use your credit marketing techniques to land this S one! ...................... $40,000 ..................... .Call Dean t VICE PRESIDENT/DIVERSIFIED LENDER. Put your i; experience to work in this resort area bank. Real esI tate, commercial or Installment lending background ........................ To $40,000 ......................... Call Bruce ASSISTANT VICE PRESIDENT/CLO. #2 spot In $80mm+ commercial department. Commercial | lending, loan review and other administrative func tions will enable promotions In this $190mm + I holding company bank . . . To $40,000 . . . Call MarJ „ VICE PRESIDENT. #3 person. $45mm ag bank. Grow | Into #2 spot-President retiring. Located near univer sity. Excellent compensation program ..T o $40,000 I , .......................................................................Call Bruce ; AG OFFICER. Chance to move into a larger bank. Be i one of the group and handle $8 + mm In your own i portfolio. Solid bank. Good benefits ___ To $30,000 | ......................................................................Call Dean J : SENIOR VICE PRESIDENT for major holding com -; pany bank. Oversee all lending with ultimate respon- i : sibility for operations. Major city. Benefits are one of the b e s t!.......... . .To $50,000 .............. Call Bruce I Toll Free #1-800-638-1996-025757 317 6th Ave, Ste. 650 Des Moines, IA 50309 POSITIONS AVAILABLE AG LOAN OFFICER for eastern Iowa bank, should have 3-5 years experience ....................................... Salary to $35,000 *P ersonnel Search 1126 S o . 72nd St. Om aha, N e. 68124 Please call Malcolm Freeland or Cy Kirk In care of: Freeland Financial Service 1010 Equitable Bldg. Des Moines, IA 50309 515/282-8462 _________________Employer pays fee. POSITIONS AVAILABLE E.V.P. - For a western Nebraska bank of $85 mil lion. Need heavy ag loan experience. Will be supervising 6. Will lead to CEO In 3 years. To $60K + 20% Bonus LOAN REVIEW OFFICER - Need both ag and com mercial lending experience. Omaha. To $35K. AG LENDER -3-4 years experience. N.C. Illinois. To $32 K. All fees are paid by our client employers. Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We’re Nationwide SENIOR LENDER Will be responsible for planning organizing, and directing the banks overall lending operations. Applicant must have excellent track records. Send resume to File No. WEG c/o Northwestern Banker. POSITIONS AVAILABLE REAL ESTATE LOAN - manage dept, for large suburban bank. Construction lending experience a must. $35,000 LOAN REVIEW • assist senior loan review officer of $200M M bank. Prefer degree. $24,000 COMMERCIAL LOAN • Junior position with $200MM subur ban bank. Requires degree and experience with large credits. $28,000 AGRI-LENDER - senior position which requires strong background In financing of cattle operations. $35,000 TRUST OFFICER - manage small dept, for $40MM subur ban bank. Does not require Law Degree. $24,000 INQUIRIES ARE CONFIDENTIAL RESUME’ REQUESTED. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 "Serving the Banking Industry Since 1970” e Ü L l* S V 5o?e0rtrTWÄ^ rn Ba,nker (USPS 873-300) Is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Molnee, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second claee postage paid at Moines, Iowa. Address all mall subscriptions, changes of address (Form 3579), manuscripts, mall Items to above address. Digitized forDes FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis