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February 4,1985 Des Moines, Iowa Vol. 13 No. 42 ings Bank in Bedford, and Herman The Iowa Bankers Association is Denklage, Wisner, Nebr. They paid sponsoring a Mid-Winter Manage a $206,000 premium to FDIC, and ment Conference the end of this assu m ed t o t a l d e p o s its of month, February 27 to March 1, to $18,065,000, plus installment and real estate loans, securities, cash be held in Keystone, Colo. You will be welcomed the first and due, and the building. A new evening at a get-acquainted recep state charter was processed in time tion. The second evening will include for the new bank, Valley Bank & a panel discussion, moderated by Trust, to open Monday morning, IB A Executive Director Randy January 28, without interruption of Steig, on “Banking — Where Do We service. Tom Huston, Iowa superin Go From Here?” The final evening tendent of banking, said “the banks will conclude with “Profitability capital of $1.5 million was pretty Management in the Bank”—pre well depleted.” It was the first bank sented by Jam es L. Green, chairman to be declared insolvent in 1985. of Bank Management Resources, Three Iowa banks were closed in Inc., Decatur Ga. Mr. Green has 1984. over 30 years of banking consulting FA IR FIE L D : Carl E. Berg has been experience. named vice president and cashier Registration fee is $130 for mem and Melva L. Dahl has been named bers, spouse fee is also $130. IBA assistant vice president and trust of subscriber registration is $175 and ficer at First National Bank. Mr. nonmembers are $260. For more in Berg has been with the bank since formation or registration contact 1956 and Mrs. Dahl joined the staff the IB A office in Des Moines. in 1952. Iowa News CHEROKEE: The 111-year old Steele State Bank was closed January 25 by the Iowa superintendent of bank ing when examiners determined the bank’s capital had been depleted by write-off of bad loans, mostly ag loans. Tom Steele was president of the family-owned $20 million bank. The bank was turned over to the FDIC as receiver. The winning bid of three submitted was from Tad Hammond, chairman of State Sav GEORGE: Jam es L. Cuttell has been named president of George State Bank. Formerly vice president since 1970, he succeeds E .R . Manual, who will remain as chair man. Mr. Manuel has been with the bank since 1946. GILMAN: The Citizens Savings Bank of Gilman has announced the promotion of Kim V. Hulin to vice president and director. Mr. Hulin has been associated with the bank for the last two years in its farm loan and insurance departments. G RU N D Y C E N T E R : Hawkeye Bank & Trust has announced the promotion of Dwight B. Stewart from executive vice president to president and CEO. He succeeds L.C. “Bud” Pike, who has been named chairman. In addition, T .J. Heronimus has been named vice chairman; Tom B atty has been ad vanced from farm loan representa tive to vice president, and Duane Dirks has joined the bank as vice FA RLEY: Joseph D. Daly has been president. Mr. Pike is a former presi elected president and chief executive dent of the Iowa Bankers Associa officer of Farley State Bank. He suc tion. Mr. Heronimus is a local attor ceeds J.F . Kleeman, who announced ney and will continue as bank coun his retirement at a recent stockhold sel. ers meeting. He will remain on the board as an honorary director. In ad HAMBURG: At the annual meeting dition, Robert M. Bertsch, attorney of Iowa State Bank, Hamburg, Dale with a Dubuque firm, was elected Schnitker was promoted to vice chairman. Raymond J . Scherrman president. Mr. Schnitker had been serving as assistant vice president. was elected vice chairman. ASK STAN FARMER to m ake M N B w o rk for yo u . Toll fre e: 1-800-332-5991 Merchants National Bank isi Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK ARE YOU CULTIVATING A CROP OF NON-PERFORMING AG LOANS?? Call (515) 225-0085 COLLECT To Learn About THE PLANNER Revolutionary Software for Farm Credit Analysis and Planning Homestead Management Systems, Inc. Nebraska News Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank in DES MOINES, IOWA 50304 A BANKS OF IOWA BANK Member FDIC IOWA FA LLS: Robert A. Baird has mittee on trade negotiations and been named vice president and se owner and operator of a grain and nior loan officer at Iowa Falls State cattle farm. There will also be a re Bank. He joined the bank recently view of the Iowa cattle feeding in after ten years as an Iowa Bank E x dustry, past, present and future, and a panel discussion on the eastern aminer. Iowa cattle industry. For more infor mation contact Maquoketa State MAQUOKETA: Maquoketa State Bank, 319/652-2491. Bank has scheduled an eastern Iowa cattle industry seminar to be held M ITCH ELLVILLE: Farmers Sav Friday, February 8 at the Maquo ings Bank has announced the pro keta Country Club. The seminar will motion of George C. Ballard to vice run from 10:00 a.m. to 2:00 p.m. president and a director. He has with a free beef luncheon at 11:30. been with the bank since 1969. In Keynote speaker is Sam Washburn, addition, Steven R. Hall was pro past president of the National Cat moted to assistant vice president tlemen’s Association, a member of and B etty J . Thompson was pro President Reagan’s advisory com moted to cashier. U.S. CHECK BOOK CO M PANY W ELCOM ES YOU TO Iowa Bankers Group 11 Annual Meeting February 17-18, Burlington Visit us in our hospitality room at The Holiday Mel Adams has accepted nomina tion to become the next president of the Nebraska Bankers Association, for election to that post at the state convention in Lincoln next May. Mr. Adams, a third-generation banker, is chairman of the Adams bank, which are located in Ogallala, Brule, Imperial, Sutherland and Madrid. He has served on the NBA Execu tive Council since 1982 and has been active in NBA work for years. He replaces Roger Weiss, president of Commercial National Bank, Ains worth, who resigned the president elect post recently due to personal needs at his own bank. H A S T IN G S : N o rw est B a n k Hastings recently announced the promotion of Robert Zaback, for merly senior vice president, to exec utive vice president, and Dave Higbea, formerly assistant vice presi dent, to vice president - agricultural banking. LINCOLN: Tom Schlautman has been named president of City Bank and Trust Co. He replaces Michael J . Rooney, who resigned earlier in January to pursue other business in terests. Mr. Schlautman, 31, for the past five years has served as an in ternal auditor with the Lincoln con sulting firm of Midwest Financial management Corp. MINDEN: Jam es M. Larsen, vice president of the Minden Exchange Bank, died last month at the Kear ney hospital. Mr. Larsen, 39, had been ill since April. NORFOLK: Directors of The DeLay First National Bank & Trust Com- Glen Altfillisch United States Died Book Company 1201 SOUTH 16TH STREET - OMAHA, NEBRASKA 68108 In Nebraska Call 402-345-3162 Out of State Call WATS Line 1-800-228-9246 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ezHotd-EX a n d Bank Consultants Specializing in Bank Acquisitions P.O. Box 450 D onald 515-232-0814 405 Main Ames, Iowa 50010 E. H o lder, Principal Supplement to Northwestern Banker Newsletter 2-4-85 Where success is etched in quality. you want. And, for over 50 years, our he success of your bond track record for making successful J portfolio is a function of quality investments. After all, quality is your recommendations has been best assurance of growth in earnings.excellent. Undoubtedly due to our consistently high standards: United M issouri’s Investment Call or write us today. W e’ll Banking Division can make hold your investment information in sure you’re investing in high quality the strictest confidence. securities. W e offer exactly what a Investment Banking Division UNITED M ISSOURI BANK M em ber FDIC United we grow.Together. 10lh and Grand ó P.O. Box 226 o Kansas City, Missouri 64141 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 It’s time to check your henhouse n r he new world of financial deregulation and compe1 tition dem ands that independent community banks closely evaluate their business partners. Som e partners are committed to helping you, others to help ing themselves. At American, we have the resources to be your corre spondent, and the desire to help you succeed. We do not use your money to compete for your customers. Please evaluate your correspondent partners. Which ones help you, and which ones really use you to help themselves? You may find some strange birds. A M E R I C A N N A T I O N A L https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BANK - S A I N T PAUL 4 Burlington H osts Group 11, Feb. 17-18 ROUP 11 bankers and spouses will meet February 17-18 at The G Holiday in Bur lington for the annual meeting. Presiding will be Group Chairman John F. O’Neill, chairm an and president, First National Bank, Burlington. Group secretary j . f . O’NEILL is William R. Bernau, chairman and president, Peoples Savings Bank, Crawfordsville. Mr. Bemau is slated to succeed Mr. O’Neill at the election. The Holiday is located at the junc tion of Highways 34 and 61. Guest speaker will be Dr. Taggart Frost, psychology professor at the W.R. BERNAU W. LOGAN University of Northern Iowa. The complete program follows: Sunday, February 17 P.M. 4:00 Registration—The Holiday. 5:30 Social Hour—Poolside. 7:00 Dinner—Banquet room. 8:30 Dancing to midnight with Dan Yoder's Big Band. 10:00 P.M. 12:30 Monday, February 18 A.M. 10:00 Business Meeting—The Hol iday. Presiding, John F. O’Neill, chairman, Group 11. Minutes—William R. Bernau, secretary, Group 11. “ S e lf D efeatin g Conse quences of Organizational Traps”—Dr. Taggart Frost, PhD, University of North- N. MILNER T.H. HUSTON ern Iowa. L a d ie s ’ P ro g ram —S ty le Show. Holiday Poolside. Luncheon—Ballroom. Choral Selection s—Vocal Chords, D an ville H igh School. Speakers: Bill Logan, presi dent IB A and president, The State Central Bank, Keo kuk; Neil Milner, executive vice president IBA , and Thomas H. Huston, Iowa superintendent of banking. Peoples Trust Donates Memorial to Late President Dedication ceremonies for a new memorial to Richard W. Buxton were held at the West Roads Office of Peoples Trust & Savings Bank, Indianola, on December 30. The memorial, given by Peoples Trust & Savings Bank, includes a flag pole from which will be flown a flag from the United States Capitol. The flag, acquired through the cour tesy of Senator Tom Harkin, was flown over the Capitol in Washing ton D.C. on November 6, 1984. Richard W. Buxton served as presi dent of the bank from 1972, and chairman of the board from 1983 until his death on July 16, 1984. W elcom e to O u r G ro u p Meeting BURLINGTON Monday, February 18 Headquarters and Registration at THE HOLIDAY Junction off Hwys. 34 & 61 Burlington banks extend a hearty invitation to all members of Group Eleven and other bankers to attend our annual Group meeting. REM EM BER TO BE WITH US AT OUR SUNDAY EVENING PRECONVENTION PARTY! Haw keye Bank & Trust Farm ers & M erchants B k . & T r. First National Bank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Call on the “Experienced Professionals” Ready to meet your correspondent needs. first n ^ N A L U N C ^ J. A FirsTier Company • ^ ^ £ # • # • # pany have named Bernard N. DeLay as chairman and he will continue as chief executive officer. Elmer E. Mohl succeeds Mr. DeLay as president and continues as chief adminis trative officer. Mr. DeLay has been with the bank 50 years and has been president since 1962, when he was elected to succeed his father, J .J . DeLay. Mr. Mohl has been executive vice president since 1967. OMAHA: Packers National Bank recently announced the promotion of James R. Riha to executive vice president and Terence J . Tvrdik to vice president. Mr. Riha joined Packers in 1969. Mr. Tvrdik has been with the bank since 1970. SU PERIO R: At Security National Bank, Scott Hobson, vice president, was advanced to executive vice president, ag manager and a direc tor, and Steve Riggert was advanced from assistant vice president to vice president, installment loan manager and a director. In addition, Robert E. Noren, executive vice president and a director, has retired. Industries, Inc., and previously was managing partner of Arthur Young and Company in Minneapolis. ST. PAUL: Norwest Bank St. Paul, N.A. recently announced the elec tion of Raymond A. Johns to senior vice president, commercial banking group. He joins the bank from Nor west Bank Minneapolis, N.A., where he was manager of international trade services. South Dakota News ARLINGTON: Citizens State Bank recently announced several promo tions. Frank Felix was promoted to vice president in charge of consumer loans and Eudale Ringgaard was named vice president in charge of commercial loans. They joined the bank in 1961 and 1971, respectively. North Dakota News • M INNEAPOLIS: Charles J . Burns has joined F B S Merchant Banking Group as executive vice president. He had been senior vice president and chief financial officer of BMC Serving bankers quietly ano efficiently. CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 MINOT: The board of directors of First Western Bank of Minot has announced the promotion of John H. Hoeven, II I from assistant vice president and trust officer to vice president and trust officer. He will Illinois News continue to supervise trust opera CHICAGO: Robert M. Wrobel was tions and assume more responsibili recently elected senior vice presi ty in commercial and administrative dent of Amalgamated Trust & Sav activities. ings Bank. Mr. Wrobel joined Amal gamated in 1972 as a credit analyst. Montana News WAUSA: At the annual meeting of ESTELLIN E: The Farmers State Commercial State Bank, Doug John Bank of Estelline has announced the son was elected executive vice presi election of David W. Johnson as dent and to the board. He has been president. Mr Johnson joined the with the bank since 1980. In addi bank in 1975 as executive vice presi tion, Lyle Rorvik was promoted to dent and has been managing officer assistant vice president. He joined since 1976. in 1983. Minnesota News Member, F.D.I.C. GRAFTON: Russell Erickson has been advanced to vice president and manager of the agricultural loan de partment of First American Bank and Trust. He joined the staff in 1981 and previously was with the bank of North Dakota. BU TTE: Norwest Bank AnacondaButte, N.A. recently announced the following changes and promotions: Fred Stradinger was elected vice president and cashier, and Gary Winship was promoted to vice presi dent. Banking Career Specialists Financial Placements is built on a history of strong relationships betw een bankers and Bank News' publications. Mike Wall Tom Cannon Call us! We can help find the right person or the right position. Count on the FNB team for any Correspondent service. F IN A N C IA L PLA CEM EN TS a division of BANK NEWS Gary Stevenson 712/ 277-0610 First National Bank i n Lon Kelling Member FDIC • Sioux City • A 'BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 912 Baltimore Kansas City, MO 64105 816 421-7941 - BANKING OPPORTUNITIES AG LOAN OFCR— No. 2 in rural NE bank, to be CEO in 2-3 yrs. Openings in NE, IA, SD to $40L. Call Barbara Ritta. Ag Banking Specialists Let us help with your career advancement or staffing needs. Call in confidence, w ithout obligation. Employ ers pay our reasonable fee to hire the best. COMMERCIAL LOAN OFCR— Fast track to Mgmt level w ithin 2 yrs. 10k MN town. 2 + yrs ex perience. $30-46«. Contact Pamela Swenson. POSITION WANTED ENTRY LEVEL POSITION. Graduate o f the University of South Dakota. With interest in finance and economics. Contact Jeff Wollman, 803 Dakota St., Yankton, SD 57078. Phone: (605) 665-8293. (PW) Design, Decorating, Building BANKS ■ Do you want to save money: We specialize in finding space where there is none. Banks are our only business - Call: Structural Designs, Inc. Holstein, Iowa Phone: (712) 368-4817 WANT TO BUY WANTED— Minnesota, Iowa or W isconsin $10-$20 m illion sound bank. File WCQ, c/o Northwestern Banker. (WTB) COMMERCIAL LENDER for $100 m illion bank. Requires 5-10 years experience. Job enthils loan cleanup—both ag and co m m e rc ia l........................................ Salary $40,000 + COMMERCIAL LENDER for $600 m illion midwest bank. Must be experienced in handling major credits and good at d o c u m e n ta tio n ........................................ Salary $40,000. Linda 515/394-5827 New Hampton, la. 50659 ■ SHARP ELECTRONIC TELLER MACHINES—OverstockedSpecial Price for 30 days. Phone: 307/634-7402. (FS) BURROUGHS S590 SINGLE POCKET DOCUMENT ENCODER. New. Never Used. Contact D.T. Ledlie, Phone: 815/453-7441. (FS) BURROUGHS 6 POCKET PROOF MACHINE MODEL S3000 Farmers State Bank, Irene, S.D. 57037. Phone: 605/263-3355. (FS) POSITIONS AVAILABLE COMM’L LENDER • Ski, Ski, Ski. $100 + mm bank, sur rounded by slopes, seeks degreed indiv w ith 5 + yrs comm’l lending exp. Strong technical and new business development skills req’d. $35«. TRUST ADMINISTRATOR - Aggressive bank w ith rapidly expanding dept wants JD or CPA w ith 2 + yrs gen'l trust exp in $100mm + environment for highly visible position. $30 « + . 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KURT ROSENCRANTS AT (515) 244-4414 R O B f R T M fB L F 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID Jean 515/263-9598 (T/W/F) 712/7793567 (M/TH) Massena, Iowa 50853 dgn CAREERS, INC. NUMBER TWO person for $140 m illion bank. Must have loan experience in larger bank. Position leads to CEO . . . . ...................................................................... Salary $50,000 + COMMERCIAL LENDER for major southern Minnesota bank. Requires 5 or more years experience........................... .................................................................... Salary to $40,000. TRUST OFFICER for $300 m illion midwest bank. Prefer lawyer or CPA w ith trust experience . . . . Salary $35,000 + AG LENDER for major eastern Iowa bank. Located in metro area. Candidate will work in rural office ..................... .................................................................... Salary to $30,000. POSITION AVAILABLE COMMERCIAL LOAN OFFICER— Immediate opening for head of commercial loan department. This person w ill also supervise officer In charge of consumer loans. Minimum of 3 years commercial experience required. Salary com mensurate w ith experience. Excellent benefits and career opportunities. Contact: Robert S. DeWaay, President, United States Bank, P.O. Box 309, Cedar Rapids, IA, 52406. Member Hawkeye Bancorporatlon. Phone 319/366-8413. TRUST OFFICER for $70 m illion Iowa bank. Prefer lawyer with tw o or more years experience in handling trusts and e s ta te s ........................ ..................................Salary $30,000. BRANCH MANAGER for bank located near major urban area. Requires 10 years experience. Prefer steady, wellrounded, ag-oriented banker with insurance licenses . . . . .........................................................................Salary $30,000. _____________________________________ (PA) CASHIER for eastern Nebraska bank. 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PROFESSIONAL RECRUITERS 6818 Grover Street Omaha, NE 68106 Phone: 4021387-2888 Financial Careers CEO for $25 m illion Iowa bank. Prefer experienced banker w ith college d e g re e .................................. Salary $35,000 + chooler V)ASSOCIATES ir "Successful Banking is Quality Personnel" If you would like to be informed of positions as they become available and if you are interested in chang ing your present position, send your resume or phone Don Schooler, 417-882-2265, 2508 East Meadow, Springfield, Missouri 65804. Information on you w ill be kept confidential until you are inter ested in a specific position. Eighteen years of banking serving as President of rural and m etropolitan banks enables me to match you, technically and personally, with the right bank ing environment. POSITION S CURRENTLY AVAILABLE Missouri, Iowa Oklahoma, Kansas, Arkansas, Illinois, and Nebraska COMMERCIAL LENDER, $150mm bank, $10,000 portfolio, middle market credits, excellent loca tion ............................................................... $35,000 COMMERCIAL LENDER, $100mm + bank, solid commercial construction lending background, $10mm portfolio, work-out c re d its ............ $40,000 PRESIDENT, in a top suburban location, strong business development and social background . . . .................... OPEN WITH OWNERSHIP EQUITIES COUNTRY BANK COMMERCIAL LENDER, $80mm, #3 man, 7,500+ population, southern Missouri, business development skills .. .$25,000 COUNTRY BANK, #2, Excellent town of 2,000, small bank, needs all around lending abilities . . . ........................................................................ $25,000 PRESIDENT COUNTRY BANK, $30mm + bank, ag oriented, work-out credits, population of 4,000 . . . .............................. $45,000 PRESIDENT SUBURBAN BANK, $40mm + , out standing growth potential, requiring a seasoned, stable, team builder adm inistrator................. OPEN PRESIDENT COUNTRY BANK, near college, $20mm + , work-out and documentation expertise ........................................................................ $45,000 OPERATIONS HEAD, $30mm + , good college to w n ................................................................$25,000 COUNTRY BANK LENDER, $30mm + , 1,500 popu lation, strong ag background, strong banking or ganization ......................................................$30,000 AG LENDERS for PCA, to serve as managers in excellent farming areas. Offices do not have major problem loans. Prefer college grads w ith 3 or more years experience and farm background. Gooddocumentation record is essential ..................................................................... Salary to $30,000. Write or call Malcolm Freeland or Cy Kirk in care of Freeland Financial Service, Inc., 1010 Equitable Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays reasonable fee. Many other opportunities now available. POSITIONS AVAILABLE COMMERCIAL LENDER - 3 years or more exp. Degree. Central Iowa location. To $33«. LET’S GO SOUTH TO FLORIDA - V.P. COR PORATE LENDING - Heavy duty commercial lend ing. Degree. To 50«. AG LENDERS - NW Iowa and Eastern Nebraska. To $30«. Call or send resume to: Richard L. Beam Certified Personnel Consultant GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 - Member National Personnel Assoc. We’re Nationwide POSITIONS AVAILABLE REAL ESTATE OFFICER • manage dept, for $100MM bank located in college town. Experience with secondary mar ket operation a plus. $28« SECOND OFFICER - $35MM Agri-oriented bank. Minimum five yrs. Ag-Lending experience $35« SENIOR LENDER - supervise all lending divisions of $125MM community bank. Degree and experience in large bank desired. $45« COMMERCIAL LOAN - $75MM suburban bank affiliated with major holding company. Requires excellent docu mentation and analysis skills. $30« CEO - medium size Ag bank located in small northern M is souri community. Previous adm inistrative experience re quired. $40« Additional opportunities available in Midwestern States. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 13 No. 42 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fif teenth 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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