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0 x » -> Vol. 8 No. 44 Prime Hits New High M ost major banks raised their prime rate to a record 15 3A % from 15 VS % on February 19 after the Federal Reserve raised the discount rate by a full percentage point to 13 %. Short-term securities immed iately showed increases of more than one-half a percentage point. Des Moines, Iowa was elected chairman of Central Na tional Bank & Trust Co. last week to succeed Simon W . Casady, who will be 65 next month. Mr. Casady will remain active in the bank as chair man of the executive committee of the bank and as chairman of the holding company, Central National Bancshares, Inc. Iowa News ALTON: Alton Savings Bank has increased capital from $105,000 to $210,000 by a 100% stock dividend. ♦ >> T* ►p 0 0 D E S M O IN E S: A t N orthw est Brenton National Bank, Roger D. Fink, David W. Fuhrmeister and Sharron Marquart have been pro moted to asssistant vice president. Alice M . Huston was advanced from assistant cashier to assistant trust officer. DES MOINES: Kenneth M. Myers DUBUQUE: Promotions announc ed at Dubuque Bank and Trust in clude: Lynn B. Fuller to vice presi dent in the commercial lending and investment division; Dave Lock and Lee McDermott to assistant vice president; Richard V. McKay III to com m ercial loan officer; M ary Keenan to trust officer; Lou Ann Schmitt to data processing officer, and John Lattner to instalment loan officer. E L M A i Cashier Robert F. O’Don nell has been elected a director. MANCHESTER: Gerald Burke has moved from Security Savings Bank of Eagle Grove, where he was assist ant vice president and trust officer, to the Farmers and Merchants Sav ings Bank here as vice president. BETTENDORF: The American So ciety of Farm Managers and Rural Appraisers will sponsor a seminar March 10-11 titled, “ Consultant or Manager? Role of the Professional in the 80s. ” It will be held at Jumers Castle Lodge in Bettendorf. DES MOINES: The Iowa Invest ment Bankers Association annual meeting will be February 28 in the Des Moines Club Hermitage Room. The business meeting starts at 4:45 p.m. Speaking after the dinner will be Tom Stoner, Republican candi date for U.S. Senator. February 25,1980 Peter L. Castner (left) and Ronald E. Doll (center), district managers in W isconsin and Minnesota for Brandt, Inc., were re cently honored at the firm’s annual sales meeting in Fort Lauderdale, Fla., for out stan ding sa le s perform ances in 1979. From Kenneth H. Flltz (right), Brandt’s v.p. sales, they received jeweled rings, award plaques and com m em orative clocks for ranking second and third, re spectively, among all 48 district managers throughout North America for percent of sales quota achieved. Brandt is the long time leader among manufacturers of coin, currency and document handling equip ment and systems for banks, vending firms and large volume retail operations. Mr. Castner, a resident of New Berlin, W is., has offices in Elm Grove, while Mr. Doll’s home and offices are in Wayzata, Minn. MOVILLE: Bill Kuebler has joined First Trust & Savings Bank as a vice president. He has been with an Omaha construction company. STATE CENTER: Top manage ment changes at the Central State Bank here include W . L. Haesemeyer, president, to chairman of the executive committee; James E. Jor gensen, execu tive vice president and cashier, to president, and Dwayne Hochhalter, vice president, to vice president and cashier and a member of the board. STORY CITY: J. H. Brekken has been named honorary chairman of the Randall-Story State Bank and he is succeeded as chairman by C. B . Correspond with the bank that can give you M F n mlot a of help for ■ p f l your money. A * https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ¡M DesMQines A n A ffilia te o f N o rth w e st B a n c o rp o ra tio n George Milligan l -800-362-2514 2 John M u ran o: BANKERS BANKER Com e C row W ith Us Bankers Thjst Des Moines, Iowa 50304 Kinseth, formerly vice chairman. Trust Officer Don Hoy was named to the board. WASHINGTON: Dale J. Torpey has been promoted to executive vice president and cashier of the Nation al Bank of Washington. Donald Biederman was promoted to manager of the instalment loan department. Nebraska News FREMONT: William R. Emanuel, partner in E.P.E . Enterprises in surance firm, was elected to the board at Fremont National Bank & Trust Co. Four officer promotions were announced: David N. Sim mons to senior vice president and m arketing director; M ichael L. Semrad to vice president-mortgage lending; Terry Roumph to vice pres iden t-tim e credit center, and Audrey Renter to assistant cashier. HOLDREGE: The application of Phelps County Savings Company for a license to operate an industrial loan and investment company at 719 F ourth A venue was denied February 14 b y Paul J. A m en, director of banking and finance. LINCOLN: Paul J. Amen, director of banking and finance, approved on February 14 the charter application for L in coln State Bank, to be located at 5501 South 56th Street in Lincoln. OM AH A: The Mid Plains Group of https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N ABW will meet February 26 at 6:00 p.m. at the New Tower, 78th & Dodge Sts. Robin Waller Abrams, vice president-adm inistration at Center Bank, Omaha, will speak on “ N ebraska L egislation and the Banker.” Contact Nadine Frakes at Farmers Bank, Nebraska City, or Evelyn Schafer, Douglas County B&T, Omaha, for reservations. ST. PAUL: Paul J. Amen, director o f banking and finance, has approved the application of Citizens National Bank to convert to a state bank and to operate a trust business under the name of Citizens Bank and Trust Company. SIDNEY: Robert C. Conrad, presi dent, Sidney National Bends, has announced these promotions: Fran cis L. Goodwin Jr. to executive vice president; Fred P. Curtiss to suc ceed him as vice president and ag rep; Helen M. Kitt to succeed Mr. Curtiss as cashier, and Grace H. Meysenburg to assistant cashier. Minnesota News A D A : Three employes of Ada Na tional Bank have been promoted: P. J. Rund to vice president, assisting in the loan department; Robert E. Gillis, to assistant vice president in charge of operations, and Luverne Bredman to cashier, succeeding Mr. Rund. A U S T IN : F ive men have been elected vice presidents at First Bank A u s tin —D avid T . Bum garner, Harold E. Nuessmeier, David L. Dammen, Richard M. Thomas and George S. Adams III. ELMORE: F. A . Rodriguez has been elected president and chief executive officer of First National Bank. Previously vice president and cashier, Mr. Rodriguez succeeds A. F. Weyer, who continues as chair man. Charles J. Johnson was pro moted to cashier and Mary Ann E rickson was elected assistant cashier. Illinois News CRYSTAL LAKE: An application for permit to organize Crystal Lake State Bank, Route 14, has been filed. Capital of $1 million would be $400,000 in capital stock, $400,000 in surplus and $200,000 reserve for operating expense. Correspondent is Herbert H. Franks, attorney, P.O. Box 5, Marengo. DEERFIELD: Spyros D. Xintaris has been elected president of the Deerbrook State Bank here. Most recently he was vice president and trust officer at Lake View Bank in Chicago for the past 12 years. L aG R A N G E : L aG range State Bank has received consent from the FDIC to establish a facility at 16-20 W. Burlington Ave. here. LOCKPORT: Kenneth Herrmann and Sandra M . Pesavento have been elected vice presidents and Pam J. Bockholdt has been elected cashier at Bank of Lockport. Mr. Herrmann most recently has been with Will County S&L. Mrs. Pesavento has been with the bank since 1974 and is in charge of the loan department. Mrs. Bockholdt joined the bank in 1972 and has been assistant cashier. m ‘f - A A A' W =4* HT k- North Dakota News CARRINGTON: The Comptroller of the Currency on February 12 de clared First National Bank here to be in solven t and appointed the FDIC as receiver of the bank. The Comptroller in a news release said First National, opened in 1964 as a national bank, “ has had recurring liquidity problems and has been forced to rely on short-term borrow ed funds to meet loan demands. ’ ’ An examination started December 10 “ revealed violations of law, danger ously low liquidity and gravely in adequate capital.” After putting a Single System Banking Now m ♦ «h K National Bank o f W aterloo Waterloo, Iowa 50704 Member FDIC Phone Bill Rickert at 1-800-772-2411. A» Supplement to Northwestern Banker Newsletter 2-25-80 AN IMPORTANT PROFIT CENTER FOR YOUR BANK 7 PROPERTY IMPROVEMENT LOAN INSURANCE PROGRAM ~ « How To Produce Bigger Yields In Your Installment Loan Department! ^ » (1) You can set your own LOAN RATE: (2) The ability to INCLUDE CREDIT LIFE and accident & Health increases your Insurance com m ission income. (3) SERVICE to our lenders. Our record for service to our accounts and insurance custom ers is second to none. (4) FAST CLAIM S PAYM ENT, faster than the FH A Title One program, or any other private insuror of Property Improvement loans. ** 4 * (5) Two methods of PREMIUM PAYM ENT-—Single premium, or monthly based on outstandings of insured loans. Our Property Improvement Loan Insurance Plan insures all types of defaults in the modernization loan area bankruptcy divorces strikes skips etc. > ■* , CM , , UNDERWRITING M A N A G E R S FOR The Central National Insurance Group of Omaha , universal 365 N. SADDLE CREEK RD. • OMAHA. NEBR. 68131 • 558-9000 & CUT O F F ALO N G DOTTED LINE AN D MAIL TO: R. D. “DICK” BEATTY VICE PRESIDENT - PROPERTY IMPROVEMENT UNIVERSAL ASSURORS, INC. 365 N. SADDLE CR EEK ROAD OM AHA, N EBR ASK A 68131 Yes* I would be interested in obtaining more information regarding your property Improvement Loan Insurance Program. Please call to set up an appointment □ Please forward more detailed information Name .. Title Bank .. Address C it y ..................... https://fraser.stlouisfed.org Federal Reserve Bank of Telephone St. Louis Number State Zip Code □ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 CALL ON THE “PERFO RM ANCE TEA M ” ► 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. temporary cease and desist order on the bank, the Comptroller followed with his closing order February 12 after a more detailed exam was com pleted. ¿V ♦ *■ CASSELTON: George Poulson, ag loan officer, and Muriel Bartholom ay, cashier, have been elected directors of Casselton State Bank. Also, Jon Carley was promoted in the insurance agency and Phyllis Spooner was named loan account specialist. Colorado News Kf 4 » llianM Il where com m on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN D E N V E R : C o lo r a d o N a tio n a l Bankshares, Inc., has opened East Industrial Bank at First Avenue and M adison Street in Cherry Creek. It is the holding company’s second industrial bank in the metro area. D E N V E R : N ational C ity Bank promotions have been announced as follows: Gary Hosking to vice presi dent, R. John Rhoades Jr. to assist- ant vice president, and Shirley M ueller to accou n tin g services operations officer. D E N V E R : The correspondent banking division of United Bank of Denver will sponsor a profitability and compliance seminar in Montana and Wyoming. The seminar will be held March 10 at Sheraton Hotel in Great Falls, March 11 at the Ramada Inn in Billings, and March 12 at Hilton Inn in Casper. Speakers will be Edward E. Furash, manag ing associate of Golembe Associ ates, Inc., Washington, D.C., and Jane Dahlstrom-Quinn, UB assist ant vice president and manager of com pliance a ctiv ity . C ost o f the seminar is $25 per person. GOLDEN: An application by Den ver West Bank and Trust for federal deposit insurance has been approv ed by the FDIC. The bank’s total capital accounts are $1 million. P U E B L O : G ordon D raeger was elected vice president of the instal ment loan department of Republic National Bank. Montana News « ASK DALE FROEHLICH to make MNB work for you. Toil free 1- 800- 332-5991 M erchants A National Bank ISI Member F.D.I.C. A BANKS OF IOWA BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BILLINGS: A1 Winegardner, pres ident of First Northwestern Nation al Bank, has announced the election to the board of Warren “ Buck” Jones, a prominent rancher near H arlow ton. N ancy H anson has joined the bank as human relations officer, Louise Cook, head of the time deposit and customer services departm ents, has been elected assistant vice president, and Joe Allard, associated with the bank since 1963, has been elected assist ant vice president-marketing. BUTTE: W . R. Tait, president of First National Bank, has announced the advancement of Richard P. Verstraete to senior vice president. Mr. Verstraete will continue as manager of the Anaconda division of First National. LIBBY: James B. Sandsness has been named vice president in charge of the real estate department at First National Bank. Most recently, he held the same p ost at F irst Security Bank in Miles. Prior to that he was with Citizens Bank and Trust in Big Timber for 12 years. Wyoming News B U F F A L O : The W y om in g S u preme Court, in a 3-2 decision, dis m issed the charge o f W yom in g Bank & Trust Co. here that State Bank Examiner Dwight D. Bonham acted improperly in allowing a new bank, Security State Bank, to open in Buffalo in 1978. Wyoming Bank alleged that Mr. Bonham’s addi tional inquiries after a formal hear ing had been completed gave it no chance to rebut any further findings he made. Two judges disagreed, maintaining Mr. Bonham should have com m unicated his further findings to both parties. BURNS: Jerry Palen, a noted W y om ing w estern a rtist, has been elected a director of Farmers State Bank. Charles T. Fornstrom was elected vice president and cashier, and Lorna Cozad was elected assist ant cashier. CHEYENNE: Nancy Mockler has been named marketing officer and Richard Owens has been named loan operations officer at First National Bank & Trust Co. CODY: Roger Cox has been pro moted to senior vice president at First Wyoming Bank-Cody. Linda Herhardt was promoted to assistant vice president in charge of instal ment loans. Paul D. Hoffman has joined the bank as loan officer. GILLETTE: Four promotions have been announced at Stockmens Bank & Trust Co. by Kenneth C. Naramore, president: Jesse Braley, from cashier to v ice president and cashier; Rhae Jean S chm idt to assistant vice president-real estate departm ent; D elores W arfield to assistant trust officer, and Charles Edwards to loan officer. POWELL: Cashier Jim Whitnell of American National Bank also has been elected a vice president. R A W L IN S : D irectors o f F irst W yom in g Bank prom oted D avid Shadrick to vice president and man ager of instalment loans, Barney Conway to assistant vice president, and Charles R. Besel to assistant cashier. 4 PARTIAL LIST OF AVAILABLE POSITIONS Independent Management Services Specializing in Bank Acquisitions By Independent Investors No Broker Fees Call 515-223-1044 Homer Jensen — DickBuenneke 3737 Woodland Ave. Executive Suitel 20 West Des Moines, Iowa 50265 LENDING— Rural la. bank. Handle installment loans & collections. A lso do som eag lending. Must be able to work on own. $15,000. VP— Be responsible for entire loan portfolio of small ag bank. Must know lending regs. Lending is the key to this spot. Other bank experience a plus. $16,000. OPERATIONS— SD bank needs operations officer. Supervise bookkeepers and tellers. W ill handle all re ports. $17,000 Florida’s First Golf & Tennis Resort in its 26th year Golf School, in its 6th year Your Own Pro For Each Foursome $799 ^un- F e b - S u n . May'4 * 7 days-7 nites, p.p., dbl. occ. Special rates for non-golfers. Beginners: 1 pro for each threesome—Add $75 Resort Vacations, now thru May 4 *an « c n P P-. per day, dbl. occ., includes TO you. breakfast & dinner (MAP). FREE Golf & Tennis. Special Packages. Holiday Hills Tennis, now thru May 4 c io r only 20 Hour Instruction Program (that’s $6.25 per hr.). Herder Hull Sebring, Fla. 33870 in Fla. 813-385-0151 • TOLL FREE 800-237-2491 Harder Hall Tennis/Golf Camp for Teens 14th Season •Co Ed 11-17: June 26-Aug. 14 AG POSITION WANTED— Man with farm background and four years long-term plus three years short-term ag lending experience, seeks opportunity in country bank with promotional possibilities. Write file JBM , c/o Northwestern Banker. (PW) Students in the Rural Banking & Ag Finance Program have completed 1800 hours of classroom work in banking, agriculture and insurance. They are now seeking employment or internship positions with banks in the areas of management or management trainee. Students are available for Interviews. Please contact Terri Beckman, Instructor, Red Wing AVTI, RedW ing, MN 55066. O rcall (612)388-8371. (PW) AG CREDIT CAREERS CREDIT SUPERVISO R. . .Denver ......... $15-$20,000 IN SURANCE O FFICER . . .NW IA ......... $18-$20,000 OPERATIONS— Asst, to operations officer in large Iowa bank. Must have operations experience, be ag gressive and prospect oriented. W ill supervise 15. $23,000. WANT ADS Commercial Loan Officer— Your financial and credit analysis expertise would be invaluable in contract surety bond underwriting. This position with a leading property and casualty insurance company, may offer you thegrowth opportunity you have been seeking. To find out more, please call or write Brian Cornish, AID Insurance Co., B o x 974, Des Moines, la. 50304. Phone (515)280-4348. (PA) _______ An Equal Opportunity Employer M / F_______ Consumer Loan Officer for $30 million bank. A ppli cant should be familiar with consumer loan legis lation. Good opportunity for quick advancement. Write file JB L, c /o Northwestern Banker._______ (PA) $20 million Nebraska bank has opening for some one with 2-3 years experience in bank operations, instal ment and student loans. Excellent opportunity to gain experience in all areas of banking. Send resume to Robert McEvoy at Bank of Burwell, Burwell, Neb. 68823._____________________________________ (PA) Second Officer— Newly-chartered Community Na tional Bank of Muscatine, la. Minimum of four to six years instalment and/or operations experience de sired. Salary open. Contact Charles S. Bullock at (319) 263-1122.__________________________________ (PA) Agricultural Lender, with two to five years experience, needed by progressive community bank. Excellent chance for advancement. Salary open. Write or call Malcolm Freeland, c /o Northwestern Banker. (PA) TRUST OFFICER— Iowa bank is establishing new dept. Must be experienced in trust area and be able to set up a dept. $26,000. BANKERS PARTICIPATING I LEasePlaalnc. 545 - 31st Street Des Moines. Iowa 50312 R. L. “DICK” SELLON • P.D. “DUANE” DEVAULT Â AG LENDER— Real opportunity for person with 2-plus years experience. W ill do all ag lending for east Iowa bank. Bank wants person that can make decisions and operate on own initiative. $22,000 A L L FE E S PAID BY M AN AG EM EN T FOR FURTHER INFORMATION RESPOND IN CONFIDENCE TO: ié' AG LENDING O FFICE R . . . N W I L ....... $18-$21,000 W AG CREDIT V P . . . E I A ........................$20-$23,000 For details give Linda, our banking specialist, a call. Since1968, employers have been paying us to find the people they need. 3 O n CAREERS, INC. m J A G R IC U L T U R A L PERSO N NEL R E C R U IT E R S FOR SALE Burroughs L5000 computer with auto-reader, $3650. Also, one Burroughs L9000 with magnetic ledger and one cassette, $8500. Call (512) 836-5864,________(FS) Diebold Record Safe. Electric top door, fire rated, 10 cubic feet interior; checks, securities. New cost $13,000. $4,600 or best offer. Call Bob at (402) 571 -2300 In Omaha.__________________________(FS) BANK FOR SALE: 85% of a Nebraska bank holding company; deposits $13 million. Good community; growth potential. Reply to file JB H , c /o Northwestern Banker.____________________________________ (FS) Four Burroughs T-100 encoders $495 each. Also, NCR wide carriage adders $495 each. A ll in excellent condition. Call (512)836-5865.____________________ (FS) iU Modular bank bldg.: 12’x40’ steel with brick, 14’x70’ and24’x40’ wood; 2,000 sq. ft. permanent bldgs. SON CORPORATION, Box 684, Witchlta, Kansas 67201. (316)942-8167._________________________________ SERVING PROFESSIONALLY t4 CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 IMMEDIATE OPENINGS SECO N D O FFICER— Small rural Iowa bank. Prefer bank lending experience and in surance licenses.................................. $20,000 CO M M ERCIAL LQ AN — Suburban Minnesota bank. Background in installment lend ing helpful; advancement possible. .. $28,000 INTERNATIONAL O FFICER — This position re quires some travel. Ideal background will include commercial lending and some overseas duty............................. $25,000 CO RRESPO N D EN T O FFICER — Lead bank of major Missouri holding company. Com mercial lending and some knowledge of finance desired................................... $25,000 TRUST INVESTMENT— Need senior analyst for large department in a major midwestern bank. Some bank experience preferred..............................................$25,000 Burroughs L2, L3, L4, L5, L6 and L9 computers. Call (512)837-6783.____________________________ (WTB) Small microfilmer. Contact Ed Ziemer, Cashier, First American Státe Bank, Grand Meadow, Minn. 55936. Phone (507)754-5123.______________________ (WTB) Investor wants to purchase $20 million (approx.) de posit bank in live community. Long term investment. Need good management. No brokers. Write file FBX, c /o Northwestern Banker.__________________ (WTB) Want to buy coin counting machine in working order. Call (391)582-0091 collect, between 9:30 a.m. and 5:00 p.m._________________________________(WTB) > ‘*Y' Banking, Financial & Business Personnel Iowa and Nationwide B A N K C AR D — Prefer accounting background for bank card operations position in large midwestern bank.........................$20,000 POSITION W ANTED Young loan officer, with four years ag lending experi ence, is looking for a position as second-man loan officer to handle ag loans, as well as other loans and operational duties. Write file JBI, c/0 Northwestern Banker.___________________________________ (PW) 4 LENDING O FFIC E R . . . N W I A ...............$15-$20,000 (515)394-3145_____________ New Hampton, IA 50659 POSITION AVAILABLE +• EVP— #2 position In Minnesota bank. Lending is com mercial, with some ag. Must have experience in all areas. Equity potential for right person. $28,000. AG LENDING O FFIC E R . . . S E M N ___ $16-$19,000 Rates 50 cents per word per insertion. Ad $2 for file numbers. Identity of file number advertisers cannot be revealed. Payment in advance, please. NORTHW ESTERN BANKER 306-15th St., Des Moines, Iowa 50309 A- AUDIT— Medium-size bank located in college community. Accounting degree and 2-4 year experience requried...................... $22,000 P R O G R AM M E R — Medium-size Kansas bank close to Oklahoma border seeks RPG II and system 34 experience.................. Open Several positions available for agri loan and agri reps. in midwestern banks. Please forward resume and salary history to: TOM HAGAN & ASSOCIATES P.O. Box 12346 / 2024 Swift North Kansas City, Missouri 64116 _________________ (816)474-6874__________ . Vol. 8 No. 44 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address [Form 3579], manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * *|i
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