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Vol. 16 No. 39 January 11,1988 Des Moines, Iowa Secondary Market Is Now Law! " PPONENTS and critics of the Farm Credit system rescue bill, which also includes authorization to set up a secondary market for farm ^ real estate loans, had said many ^ months ago “it would be a cold day before the President signs such a bill!” They were right. The nation’s capital was experiencing freezing ^ winter temperatures at noon on ^ January 6 when President Reagan signed into law the Agricultural Credit Act of 1987. His signature had been awaited ever since the £ House and Senate gave final ap proval to the conference committee * bill a week before Christmas, f lj f The American Bankers Associa^ ^ tio n news release issued immedi0 ately following that signing was ap propriately titled, “ABA Wins Big Victory on Agricultural Financing.’’ IBAA issued similar enthusiastic words hailing the formation of the ▲ secondary market that the two ' organizations had united behind for many months. The ABA release stated: “The ABA calls a secondary mar0 ket for agricultural mortgages a great victory for farmers, ranchers and agricultural lenders. Michael E. Fitch, chairman of the ABA Secon dary Market Task Force and vice 0 president for agribusiness affairs at Wells Fargo Bank, N.A., San Fran cisco, said, ‘This clearly shows what can be accomplished when bankers unite behind an issue that is so beneficial for the farm borrower. That is why we had widespread sup port and why the legislation is now a reality.’ ” The Agricultural Credit Act of 1987 has several key elements, in cluding the principal Titles relating to the extension of up to $4 billion of Treasury funds to bail out the Farm Credit System. Among those other elements of the bill are two that especially mean good news for bank ers. Title VII provides for the forma tion of the Federal Agricultural Mortgage Corporation and its secon dary market for farm real estate loans, while another section deals with some important changes man dated for Farmers Home Adminis tration policies. IBAA, which had teamed with ABA and other banking groups for many months to get the secondary market feature included in the FCS rescue bill, gave its members a de tailed review recently of the “Farmer Mac” secondary market provisions. As announced earlier, the final bill that went to President Reagan for signature calls for FAMC to have a nine-member temporary board—three from FCS, three from banks, insurance companies and other lenders, and three appointed by the President, with the chairman appointed from the latter three by FirsTier Correspondent Services the President. When $20 million of stock is sold by the new organiza tion, a permanent 15-member board will be appointed—five from Class A stockholders (banks, etc.), five from Class B (FCS) and five from the gen eral public appointed by the Presi dent, one of the latter being named chairman. FAMC will develop all standards and underwriting procedures, in cluding rules for approving loan poolers. The maximum for an indivi dual farm real estate loan is the higher of $2.5 million or a loan for the purchase of up to 1,000 acres of land. Rural housing mortgages must be for a purchase price of $ 100,000 or less in towns of 2,500 or less. The reed estate loans will be sold by originating institutions without recourse and they may retain servic ing on the loans. The originating institutions and the poolers must maintain in combination a 10 per cent loss reserve and they can deter mine between themselves how this 10 percent is made up between them. The Treasury provides a $1.5 billion loan guaranty, but it can be accessed only if the FAMC loss re serve fund runs out. FAMC is obli gated to guarantee to investors that they will receive their interest and principal. One part of the final package that was not to the liking of banks was language stating the Farmer Mac securities may not be traded as gov ernment securities but as corporate More of what it takes to serve you well. ^ ^ ^ ^ ^ ^ = S ^ B ^ F ir sT ie i:B a n k s é https://fraser.stlouisfed.org FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC Federal Reserve Bank of St. Louis Lincoln • Omaha Norwest Bank Des Moines, N.A. NORW ESr BANKS im u m i Call (515) 245-3131 or toll-free (800) 362-2514 To: B ank P res id e n t... Member FDIC Our testing services significantly improve your ability to hire s u c c e s s fu l s a le s BL'** "]~eamwork: one of the reasons we’re first in Iowa. David L. Hansen, CCP Mark Conway John Rigler HAMILTON ASSOCIATES securities, which means they have to be registered with the SEC. ABA and IBAA expressed concern that this would jack up the final rate to farm customers, but a clause was in cluded authorizing review of the SEC requirement if this makes the secondary market instruments non competitive. The part of the new bill relating to revision of FmHA activities is im portant to community banks. It pro vides for more timely loss payment by FmHA, as well as expanded guaranteed-pool lending. Paul Lindholm, chairman of the ABA Ag Bankers Division and president and CEO of Farmers & Merchants State Bank of Clarkfield, Minn., stated, “As agricultural bankers, we wel- come these provisions of the bill relative to improving the efficiency of a secondary market for FmHA guaranteed loans. This will benefit farmers and their lenders by making the FmHA guaranteed loàns more attractive." ABA said the timely-payment re quirement in or out of bankruptcy will encourage broader lender parti cipation in the guaranteed loan pro gram. Writedowns on loans may be initiated only by lenders, and the agency must make prompt payment of any losses incurred by the lender and provide for review if a lender’s request is denied. The bill requires continuation of and streamlining of procedures for FmHA’s practice of permitting its loan guarantees to be sold on a seconary market. It will also allow pooling of guaranteed por tions of smaller loans. The Senate Ag Committee said it expects FmHA to develop a secondary mar ket for guaranteed loans like the market administered by the SBA. The FmHA would be responsible to investors for any shortage on pay ment of principal and interest on the pool certificates. □ Io w a N e w s Terry Martin MNB Correspondent Banker Tbgether We Can Accomplish Great Things DES MOINES: At Hawkeye Bank & Trust of Des Moines, Loree R. Raker has been elected vice presi dent and Drake office manager. She will remain the marketing director for the bank. 100 Court Ave., Suite 306 □es Moines, Iowa 50309 515/282-0221 N e b ra s k a N e w s The Nebraska Legislature con vened on January 6, and among the first bills to be considered were LB 448, public funds for stock financial institutions; LB 735, usury limita tions; LB 703, branch banking, and LB 664, mandatory mediation. Adoption was expected for the NBA-supported amendment to LB 448 which would defer the entry of stock savings and loans to the public funds field until January 1, 1990. An amendment was expected to be offered to LB 703 limiting de novo branch banking to Sarpy J Douglas and Lancaster counties. LB^ 735 would lower the general usury rate to 9%, which NBA opposes. NBA also opposes LB 664 and en courages the support of current voluntary mediation programs, for at least a one-year period. LINCOLN: John P. Perkins has been appointed vice president—loan administration at FirsTier Bank Lincoln. Vice President Rodney R. Johnson will assume the duties of corporate banking manager pre viously held by Mr. Perkins. Mar jorie Bredow was also elected vice president. She is manager of the bank’s cost accounting department. NEBRASKA N EW S.. . (Turn to page 8, please) For Professional Correspondent Service Call 1-800-622-7262 Call 319-398-4320 or toll free 1-800-332-5991 Strength of \ E astern J |o w a _ ^ r https://fraser.stlouisfed.org M erchants National B ank i f ! Cedar Rapids. Iowa 52401 Member F 0 1C A BANKS OF IOWA BANK Federal Reserve Bank of St. Louis There Jte A Difference In Banks... Valley National Bank m Main Office - Sixth and Walnut DES MOINES, IOWA 50304 A BANKS OF IOWA BANK Member FDIC JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President • OVER 60% OFALL BANKSIN OURMARKETAREAARENOWINSURED BY THE KANSAS BANKERS SURETY COMPANY That’s R ig h t. . . In th e nine states w e serve w e h ave solved th e b on din g needs for 6 of every 10 banks. That's over 16.4% of all banks in the United States THE REASO NS... SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COM PANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DAVID E. ABENDROTH Senior Vice President DONALD M . TOW LE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES e https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving th e H e artla n d of A m eric a since 1 9 0 9 OVER 60% OFALLBANKSIN OURMARKETAREAARENOWINSURED BY THE KANSAS BANKERS SURETY COMPANY « That’s R ig h t. . . In th e nine states w e serve w e h ave solved th e b onding needs for 6 of every 10 banks. That's over 16.4% of all banks in the United States THE REASONS. . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COM PANY... GIVE US A CALL - YOU’LL BE GLAD YOU D ID. THE KANSAS BANKERS SURETY COMPANY DAVID E. ABENDROTH Senior Vice President DONALD M. TOW LE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • ►ANKERSm D »ANKERS T > Some special candidates from Robert Half's Banking Division Partial list of available Banking candidates. AG LENDER. Thoroughly trained ag person with two years experience in $30M organization. Enjoys small communities and dealing with new customers. Works in both lending and operations and has a 4 year degree from Iowa State.DP101 $21K COMMERCIAL LENDER. Proven track record. This 3 year professional grew up on farm but has spent banking career in $80M bank starting in credit analysis and working into commercial loans. Strong cold calling skills, burns the midnight oil! DP102 $27K INVESTMENT OFFICER. Successful investment portfolio manager who has had outstanding gains over the past 4 years running $150M + portfolio. Oklahoma School of Bank Investments. Omega School of Commercial Lending and holding com pany training. Seeking fresh opportunity that offers new creative environment. DP103 $50K REAL ESTATE LENDER. Business approach to commercial and residential real estate lending. Presently dealing with $11M portfolio in healthy county seat bank, seeks oppty to expand your department. Provide your organization with the competitive edge - definitely an individual you can count on. DP104 $27K SR LOAN OFFICER. 10+ years lending and 3 + years in a supervisory role. Currently running a $23M loan portfolio main taining loan quality that has been exceptionally good. Portfolio comprised of all types of loans but primarily rural ag and com mercial. DP 105 $45K « CONSUMER LENDER. Makes things happen! Action oriented installment lender, heavy exposure to dealer paper and in direct financing. Capable of going out and getting new customers as well as detail work. Not afraid of long hours. DP106 $23K AG DEPT HEAD. Looking to increase profits? As competition heats up it becomes even more important to be able to get and keep quality ag customers. Department will run like a top with this 10 year lender at the helm. 3 years in FmHA, 7 years in hold ing company environment, has seen it all. Certainly one of the best. DP107 $48K BRANCH MGR. Need to make your rural branch something besides a depository location? Current branch manager who en joys small towns and large challenges is seeking new opportunity. Aggressive individual grew up in rural environment, knows rural customers well and is readily accepted by borrowers. Currently not challenged. DP108 $30K AG VP/SR LENDER. Versatile performer. Has supervised up to six lenders in two different banks. Community oriented indivi dual has all the skills to make a good president someday. Licensed in insurance and real estate plus FHA approval. Looking to future for opportunity, is currently dead-ended and has great potential. DP109 $35K CREDIT ANALYST. Computer wizard who has exceptional analysis skills. Feels at home pouring over credits in commercial, consumer or real estate areas. Has developed strong technical background on several types of software used for loan analy^ sis. DP110 $23K OPERATIONS. Save $’s. Proven individual has technical capacity to reduce overhead and save on employee costs by in creasing efficiency. Four years operations person who has done it all in $25M institution. Don’t overlook this $ saver! DP111 $21K EMPLOYEE BENEFITS. JD/CPA. Anyone who has looked knows how hard it is to find a quality specialist in this serviceoriented specialty. This 5 year benefits specialist has taken over a once-stagnant department and made it hum. Currently fac ing third year in a row of increased market share. DP112 $42K CONSUMER LOAN HEAD. Customer oriented motivator has run successful department in metro area. Skilled in real estate, SBA and installment loans. Over 8 years in the finance industry has prepared this manager for new horizons. Degreed, exI cellent image. DP113 $32K RETAIL DEPT HEAD. Career-motivated market developer with superior lending and mgt skills. Has progressed from staff commercial position to retail and branch manager positions. Holding company training and exposure to both basic and upmarketplaces. DP114 Digitized scale for FRASER $51K 0 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PARTIAL LISTING OF AVAILABLE BANKING CANDIDATES TRUST OFFICER. CPA. Self-starter has 4 years in $30M department handling all varieties of trust. Emphasis has been on estate planning and personal trust work. Very polished, feels at home in either metro or rural bank. Could definitely run small department. DP 115 $30K PRESIDENT. Driven hard-charger. This experienced president has helped community bank re-establish its dominance in county seat town. Over 9 years at the helm of two banks. Fits rapidly into community activities, social circles and customer base. Can provide your bank with good leadership into the future. DP116 $45K COMMERCIAL HEAD. Currently in charge of a $60M portfolio consisting primarily of large sophisticated credits. Holding company education plus various top-notch banking schools including RMA, Omega and Stonier. Has credentials and motiva tional talents to spur department on! DP117 $58K BRANCH MGR. Ability to trim costs and increase efficiencies. Accomplished leader has 5 years of management experience and has taken small town branch and brought it into profitable position. Family oriented banker who fits in well. DP118 $36K t • # CONSUMER LENDER. Broad range of talents including business development skills and credit analysis. Good people per son who has 3 years of bank lending with exceptional understanding of how to go after quality credits. Degreed with opera tions training and looking for a quality firm to work for. DP119 $21K COMMERCIAL LENDER. Highly regarded lender who has supervised other lenders while overseeing $20M portfolio. Has taken charge of work-out duties, business development. Great motivator. DP120 $39K MORTGAGE LENDING. Producer! Contributed over $300K in fees to bank in 1987. This marketer has kept high volume in good and bad markets while rest have struggled. Spent last 6 years innovating and expanding department in both conventional and commercial real estate. DP121 $35K PRESIDENT. Leader of people. In last 5 years has kept average return on assets over 1.0 while maintaining excellent loan quality in a $40M + bank. Not the type to sit behind a desk. Understands borrowers and knows how to keep them current. Can say no and keep them coming back. DP122 $58K • # JR. COMM’L. Main street lender with two years beating the streets in near metro community. Built up $8M portfolio consisting of strong commercial credits. Now looking for more specialized market. Excellent image and personality. A proven professional who can get the job done. DP123 $24K AG LENDER. FmHA for 2 years and then 4 years in one of the state’s most successful banks. Cash flows, loan analysis, farm calls, work outs...has done it all. Has insurance licenses. DP124 $28K AG/OPS. Rural lender has seen all sides of lending from the bookkeeping duties to the role of facility manager in a small bank. 4 years of experience in $20M bank plus raised on dairy farm. Good personal skills, feels at home in any environment. DP125 $26K • PRESIDENT. No nonsense professional who makes sure the i’s get dotted and the t’s get crossed. 15 years of community bank service in S20M-45M institutions. Primary focus is ag, but can handle rural commercial loans as well. DP126 $43K FOR FURTHER INFORMATION ON THESE CANDIDATES CONTACT KURT ROSENCRANTS ROBERT HALF # 317-6TH AVENUE, STE. 650 DES MOINES, IA 50309 ® (515)244-4414 W O R L D ’S LA R G EST BANK IN G , A C C O U N TIN G , A N D EDP PLA C E M E N T SP EC IA LIS TS W E A LSO HAVE TE M P O R A R Y BA NK IN G PR O FESS IO N A LS WE HAVE BANKING SPECIALISTS WHO ARE READY TO GO TO WORK FOR YOU NOW. CALL US TODAY. IT DOESN’T MATTER WHERE YOU ARE LOCATED OR WHERE YOU WANT OUR SPECIALIST TO WORK. OUR PROS ARE READY TO GO. • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis report must have a signature and at testation section. 6. The annual disclosure state ment must carry the following dis R eg e n c y claimer: “This statement has not RECRUITERS, INC. been reviewed, or confirmed for ac curacy or relevance, by the Federal 1102 Grand Avenue, Deposit Insurance Corporation.” Kansas City, MO 64106 7. For banks that give written Diane Evans 816/842-3860 notices of their annual meetings, shareholders shall be simultaneous ly informed that the disclosure statement is available. 8. The regulation calls for the bank to respond to the request within five days. 9. For banks with independently HE nation’s approximately 8,500 audited financial statements, the re state non-member banks will be quirement may be satisfied by required by FDIC to comply with its copies of the audited financial state new fin a n c ia l d isc lo su re re ments and the certificate or report of quirements. The Comptroller plans the independent accountant that to issue identical regs within days, contains information comparable to and the Fed staff is preparing simi the required portions of the bank’s lar disclosure regulations. The Neb Call Report. raska Bankers Association briefed The first disclosure statements the FDIC regulations for its mem under the new regulation will pre bership as follows: sent financial data as of December 1. Banks must notify the general 31, 1987, and the previous year’s public through lobby notices and in statement and must be made avail notices of annual meetings sent to able to the public by March 31, □ shareholders that disclosure state 1988. ments are available upon request. In te re s t R a te S p re a d The notice must include an address and telephone number to which re O u tp e rfo rm s O th e r In d ic e s quests may be directed. The state An interest rate spread could ments must include financial reports serve as a better indicator of for the two preceding years, and can monetary policy than the money be photocopied directly from the Re supply or other standard interest ports of Condition and Income filed rate measures, according to Federal by banks at year-end with FDIC. Reserve Bank of Chicago economist 2. On a case-by-case basis, FDIC Robert D. Laurent writing in the may require that descriptions of en January/February issue of the forcement actions be included in dis Bank's bimonthly Economic Per closure statements. spectives. This observation holds 3. The regulation allows, but does true, even during the period “when not require, the inclusion of manage increasing emphasis was being ment discussion and analyses. placed on money as an indicator of 4. Reports of one-bank holding m onetary policy,” the author companies prepared in accordance declares. with requirements of the SEC or The spread between a long-term Reg Y of the Federal Reserve Sys bond rate and the federal funds rate tem may be used to satisfy the regu “would have given better forecasts lation in instances where no less of future changes in real income than 95% of the holding company’s than other potential guides,” Mr. consolidated total assets and total Laurent states. liabilities are assets and liabilities of SERVING THE UPPER MIDWEST FDIC Issues Disclosure Requirements T Serving bankers quietly and efficiently CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 After testing three interest ratebased indicators and a measure of money as forecasters of future changes in real income, the author concludes that the encouraging re sults from the research, “coupled with the relative ease of controlling the interest rate spread . . . suggest th at the interest rate spread de serves consideration as an indicator of the thrust of monetary policy.” NEBRASKA N EW S.. . (Continued from page 2) OMAHA: F. Phillips Giltner, vice chairman of the First National Bank of Omaha, has been reappointed as the Tenth Federal Reserve District representative to the Federal Ad visory Council. The 12-member Council meets quarterly to advise the Board of Governors of the Federal Reserve System . Mr. Giltner was named to the post by the Federal Reserve Bank of Kansas City. OMAHA: Patrick W. Beck has been appointed state manager/operations for the Nebraska Regional Service Center of Record Data, a subsidiary of TRW Inc. Mr. Beck has held posi tions as plant manager and chief ti tle officer for several major title companies in Texas before joining Record Data in October, 1987. Rec ord D ata’s Omaha office is at The Exchange Building, 1905 Harney Street. M in n e s o ta N e w s The Minnesota Bankers AssocicJ~fo[d.£X a n d czd h iocu itzs. Specializing in the Purchasing and Sale of Banks 515-232-0814 405 Main Ames, Iowa 50010 Donald E. Holder, Principal POSITIONS AVAILABLE CHIEF CORP. CREDIT OFFICER— Degree plus 10 or more years of commercial, consumer, and some R.E. exp. Omaha location. To $40-50K. All fees are paid by our client employers. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Send Y o ur News T o d a y to th e NORTHWESTERN BANKER T E LL US A B O U T . . . 1535 Linden Street, Suite 201 DES MOINES, IOWA 50309 Staff Changes Business Campaigns Mergers, Consolidations New Departments at the Bank Remodeling or New Building Open Houses Anniversary Parties Deaths or Retirements Speeches Made by Bank Officers Special Announcements to the Public # BANK .... OFFICER CITY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TITLE STATE INSURANCE Insurance and lending. Minn. bank. Excellent poten tial! $25-$35,000. CEO N. Iowa bank. Ownership potential. Good town. $40-$50,000. CONTROLLER Seek person with bank controller and operations ex perience. N. III. $30-$40,000. sident of Norwest Capital Markets, Inc., and Daniel A. Saklad, Minnesota/Wisconsin regional president of N orw est’s community banking Marty 712/779-3567 Annette 515/394-5827 Massena, IA 50853 New Hampton, IA 50659 group. They will continue in those positions. The new bank has assets of appro tion will sponsor a seminar, “Loan ximately $8.7 billion. Documentation for Community # Bank Secretaries," in five locations Illin o is N e w s during January. It will be held from 2:00 to 4:00 p.m. at the following CHICAGO: Michael M. Karnes has locations: 11th—Bemidji, 12th— been promoted to senior vice presi Alexandria, 13th—Redwood Falls, dent of Amalgamated Trust & Sav # 14th—North Mankato, 15th—Shore- ings Bank. He had been a vice presi view (Twin Cities). Contact the dent for the past three years. Mr. MBA for more information. Karnes was employed for 21 years by Harris Trust and Savings Bank. MANKATO: Connie A. Halter has # been elected vice president, product W y o m in g N e w s services manager of First Bank CHEYENNE: Neil Severinson has Mankato. She most recently served as assistant vice president, personal joined Norwest Bank Cheyenne as vice president/manager of the trust banking manager. department. He previously served # MINNEAPOLIS: A management as vice president and trust division team consisting of a president and manager at the Central Bank of two executive vice presidents now Grand Junction, Colo., and has had heads the new Norwest Bank Min- a 15-year career in the trust area. % nesota, N.A., serving the Minneapolis-St. Paul m etropolitan area. SHOSHONI: The FDIC has ap James R. Campbell is president and proved the transfer of insured CEO of the new bank, into which 17 deposits and fully secured or pre Norwest banks with 42 offices in the ferred deposits of the First State £ metro area were merged effective Bank at Shoshoni to First State January 1, 1988. Mr. Campbell has Bank of Thermopolis. The failed been president of Norwest Bank bank ’s sole office, closed on Minneapolis, the largest of the 17 December 18, will not reopen. On banks being merged. He will con- that date it had total assets of $5.1 # tinue as head of corporate banking million and deposits of $4.1 million. for Norwest’s banking group. The Thermopolis bank is paying the Executive vice presidents of the FDIC a premium of $5000 for the new bank are Robert C. Brown, pre right to receive the transferred deposits. AGRIcareers, Inc. • ty National Bank of Grand Forks. Most recently he served as execu tive vice president of commercial lending at the bank. Prior to that he was with First Bank of Fargo. W is c o n s in N e w s MADISON: Valley Trust Company has promoted two vice presidents, Joan A. Burke and James J. Muel ler. Ms. Burke is office manager of the personal trust office and has been with Valley for 19 years. Mr. Mueller is office manager of the cor porate services office. MADISON: Recently promoted at First Wisconsin National Bank of M ad iso n w ere K e n n e th A. Poniewaz, senior vice president and cashier; Jennifer N. Kraemer, first vice president, and Alan D. Indermuehle, vice president and con troller. Mr. Poniewaz, division manager of the bank’s controllers and operations division, had been first vice president and controller/ cashier. Ms. Kraemer heads the human resources and community services division and had been a vice president. Mr. Indermuehle had been a vice president and assistant controller. W AUSAU: C entral W isconsin Bankshares, Inc. has announced shareholder approval of the pro posed acquisition of CWB by the Marshall & Ilsley Corporation of Milwaukee. Federal Reserve Board approval is expected no later than mid-January. Meanwhile, share holders of Peoples’ Bancshares of Antigo, Inc. voted to accept CWB’s offer to acquire a controlling interest N o rth D a k o ta N e w s in Peoples’. This transaction is also GRAND FORKS: Bill G. Lee has expected to be completed this been elected president of Communi month. BANKING careers "Professional assistance in hiring and career advancement" quality service by experienced professionals https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 Jean Eden Sandi Garner 515 - 276-1151 515 - 832-1258 Tues / Wed / Fri Confidential. Fees Paid by Employer. FOR SALE P O S IT IO N S A V A IL A B L E PORTABLE BANK BUILDING. 14' x 65’ with Mosler vault & drive-up equipment + miscellaneous other equipment. Contact Wilton Savings Bank, Wilton, IA (319) 732-2077. (FS) EXECUTIVE VICE PRESIDENT— Recent promotion has created an opening for an experienced lender with'both Ag and Operations background. Nice rural community close to metro area.....................................................To $40,000 + . POSITION AVAILABLE Rapidly expanding $39MM Independent Bank seeks PRES/ CEO. The right individual should be experienced in market ing as well as bank operations. Send resume to File No. WLX c/o Northwestern Banker. (PA) AG LENDER—Well run small country bank looking for a stable, dedicated banker to serve in #2 position. ............................................................................... To $32,000. EXECUTIVE VICE PRESIDENT $44MM Bank located in beautiful resort area. Oversee the day to day function of bank. Send resume to File No. WLYc/o Northwestern Banker. (PA) FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 COMMERCIAL LOAN OFFICER—$300MM bank. Iowa. Requires 2-5 years commercial lending experience & formal training in same. $25-$32,000. Contact File No. WLK c/o Northwestern Banker. (PA) AG/COMM. LOAN OFFICER. 3-5 yrs. experience in ag lend ing and general banking. Western Neb. bank. Send resume to File No. WLU c/o Northwestern Banker. (PA) AG LOAN OFFICER—$30MM S.W. Minnesota bank has immediate opening for ag lending officer with some knowledge of bank operations. An excellent opportunity to become #1 ag lending officer. 3-5 years experience & related agricultural degree. Must have ability to put together farm loans, statements & cash flows. Salary range open. Send resume to File No. WMM c/o North western Banker. (PA) B o x 9 4 9 - M a s o n C ity , la . 5 0401 5 1 5 /4 2 3 -5 2 4 2 P ro fe s s io n a l A u c tio n e e r R e a l E s ta te B ro k e r R Y AN A U C T IO N C O ., IN C . tÉ L ? >O -'ji J E Dwayne Smith Banking, Insurance and Leasing Specialist (515) 224-0830 SALES CONSULTANTS 1501 50th Street #210 West Des Moines, IA 50265 TRUST INVESTMENT OFFICER Paul W. O la n d er C om pany Bank Stock Appraisals and Loan Reviews 1073 Plummer Lane S.W . Rochester, MN 55902 (507) 285-9271 BANKERS AVAILABLE AG V.P. Hold Co. trained in all areas of ag lending and superb solv ing skills. This aggressive individual has absorbed as much as possible while cleaning up $10M portfolio cutting charge offs in half. Enjoys challenge and ready to move ahead. $35K. CONTROLLER CPA/CIA with 5 + years banking holding co experience de sires to move into bank management. Strong S/Auditor with excellent experience in Bank Regulations. Person able individual who works well with all departments. $36K. PROGRAMMER ANALYST Six years progressive experience in Banking service bureau using Burroughs/Unisys med. systems. Very com fortable with a wide range of loan systems including mort gage, commercial and installment. $20K. FOR FURTHER INFORMATION CONTACT KURT R05ENCRANTS R O B ER T UHLF OFNMM.MC. 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID F in a n c ia l C a re e rs , Inc. Two Ruan Center/Sulte 1000, Des Moines, IA 50309 515/245-3786 Employer pays fee. Please contact Lorraine Lear or Malcolm Freeland con cerning these and other Midwest banking opportunities. COL. GORDON E. TAYLOR a n d A p p r a is e r CEO accustomed to hectic pace in larger Iowa bank. Loan workout expertise, excellent marketing results, advanced banking schools, strong people and business develop ment skills. Contact File No. WLD c/o Northwestern Banker. (PW) COMMERCIAL LENDER— Polished professional with for mal credit training and proven leadership ability. Will supervise and direct 3 loan officers in a large commercial department of a metro bank.................................To $50,000. Northeast Iowa bank seeks an experienced trust in vestment officer to manage client portfolios in its $140MM Trust Department. The position has Invest ment responsibility for some 300 discretionary ac counts, including personal trusts, managed and advi sory agencies, employee benefit accounts and com mon trust fund totaling approximately $55MM. This highly visible position requires six or more years experience in equity and fixed income portfolio management, preferably in a trust department. Excel lent written and oral communication skills are re quired, and a MBA or CFA is preferred. Business development is an integral responsibility. Excellent compensation and benefit package com mensurate with experience. Forward resume, includ ing salary history to File No. WML c/o Northwestern Banker. (PA) Decorah, Iowa 52101 Farm Equipm ent S pecialist A ppraisals & A uctions Call Dale Ryan 319-382-8648 POSITIONS AVAILABLE AVP CORPORATE LENDING Have you outgrown your job? Here’s your chance to join a bank that seeks mgmt continuity. This medium sized Western Wisconsin bank wants a dynamic professional who can eventually become the Senior Loan Administra tor. Must be degreed with 5 + yrs commercial lending exp. To$40K. Job #NW2700 LOAN REVIEW Do you enjoy loan review? Do your peers respect your ana lytical abilities? A profitable growing bank located in West Montana seeks a Loan Review Coordinator in a multiple bank environment. Must be degreed with 5 + yrs lending or examination exp. To$30K. Job#NW2701 JR. COMMERCIAL LENDER Has the time come to really test yourself? An Eastern South Dakota bank needs a commercial lender with 6 months + experience. This is a great opportunity to join one of the most visible & prestigious bank groups. Super career pathing! To$28K. Job#NW2702 FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR JAN PETERS [.m lR O B E R T H A L F ?* OFMMNESOTA,MC. RM D O N - S c HOQLER Ir " AND- I p f i S E ASSO C IA TES "Successful Banking is Quality Personnel" 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID POSITIONS AVAILABLE HEAD OF COMMERCIAL LENDING, $150mm + bank, $75mm portfolio, medium sized town. .......................................................................$60,000. CONTROLLER, $75mm bank, strong accounting, budgeting..................................................$35-40,000. FACILITY MANAGER, $175mm bank, bus. dev., all loans..........................................................$29-34,000. REAL ESTATE LENDER, $100mm bank, bus. dev., secondary market.................................... $25-30,000. AG LENDER, $75mm bank, $5mm portfolio, medium sized town..................................$30-35,000. AG LENDER, $25mm bank, $5mm portfolio, small town...........................................................$25-30,000. AG LENDER, $20mm bank, $4mm portfolio, small town...........................................................$25-30,000. TRUST OFFICER, #2 in dept., estates, medium sized town.................................................$25-30,000. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 POSITIONS AVAILABLE TRUST MARKETING - large urban bank. Requires degree and trust experience. $35K REAL ESTATE LOAN - single family residential and secon dary market experience required. Proximity of major metro area. $40K LOAN REVIEW - large bank experienced required. Both junior and senior level positions available. $28-$40K COMMERCIAL LENDING - V.P. positions in urban and large suburban banks. Personal portfolios from $20MM to $50MM. $40 K BRANCH MANAGER - handle small business and con sumer credits. Med-size community affiliate of multibank holding company. $24K Additional listings for commercial lending and trust officers. Resume’ requested. TOM HAGAN & ASSOCIATES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 16 No. 39 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden https://fraser.stlouisfed.org St., #201, Des Moines, Iowa 50309. Federal Reserve Bank of St. Louis