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• January 14,1985 Des Moines, Iowa Vol. 13 No. 39 Bank Exams Are Getting Tougher # By BEN HALLER, JR. Publisher HILE bank closings have be W come almost an “ accepted” way of life in the same way that American people have become blase about trips to outer space, two new wrinkles have been added recently in the last two Nebraska bank clos ings. When the State Bank of Dannebrog was closed by Nebraska Direc tor of Banking Roger M. Beverage last Monday, January 7, because the bank’s blanket bond was not re newed by the insurance company, the FDIC was named receiver. The bank was not insolvent. It had 9% capital, according to Mr. Beverage, so was not in trouble. However, the refusal to renew the blanket bond was the turning point. The State A t torney General’s office told Mr. Bev erage that under Nebraska law he had no discretion in time to try to find a solution to the bank’s blanket bond, so the bank was ordered closed on January 7 and turned over to the FDIC for liquidation. Liquidation was effected because none of the twelve parties invited to make a bid on the bank submitted anything; consequently, there was no takeover. In its liquidation and payoff procedures, FDIC had one de posit of more than $100,000—a $500,000 CD placed by the State of Nebraska as it has done with numer ous banks throughout the state. The State will be paid off for its $400,000 exposure only proportion to what ever ratio the FDIC sets after liqui dating assets. The State Bank of Dannebrog, with approximately $5 million as sets, was owned by Chairman Robert Short of Bellevue, Nebr., who also owns Elba State Bank and the Bank of Peru. Both banks have their blanket bonds in place without any trouble, Elba from the same company that refused the Danne brog bond, and Peru with another company. When FDIC took over the Uehling State Bank recently (reported earlier), after that bank had been closed by Mr. Beverage, the State of Nebraska had a similar $500,000 in that bank and a municipality was over the $100,000 insured limit by more than $30,000. It is not known whether either local government unit will recover any money, or if so, to what extent, since FDIC refused to turn these deposits over to the new bank. The residual problem with both banks, as it has been with practical ly every other bank closed in the past year, has been the problem ex perienced by bank borrowers in get ting their loans from another bank. In some cases it has been accom plished. In others, notably around Verdigre, where some farm custo mers were classified delinquent, loans couldn’t be placed and farmers are being liquidated by the FDIC to satisfy outstanding debts. The bankers blanket bond prob lem is not exclusive with Danne brog. It was rumored that several Iowa banks, both large and small, have been operating without blanket bonds. In the case of the Dannebrog bank, it was learned that if any claim was filed at all, the policy was terminated automatically. The bank has a claim against its insurer, and the policy was cancelled, or renewed was refused. Several bankers in surrounding states have made the statement re cently, “ There are two kinds of bankers today. Those who have been examined by the FDIC and those who haven’t.” One banker friend we’ve known for a long time called us long distance on another matter, then discussed his recent FDIC ex am. Acknowledging that his bank, like most other rural community banks, had some ag loan problems, he went on to say, however, that FDIC hard-lined every ag loan in the portfolio and downgraded or classi fied practically everything in sight. He related that FDIC examiners informed him they were writing down all land values to a flat dollar amount on this exam, and that he was lucky because when they come back next time, he was informed, they would write the land value ar- SPRENGER, ROWLAND AND Getting MESSINA it done for you. ^ ^ Bill Sprenger 234-2625 Frampton Rowland 234-2485 John Messina 234-2486 Commerce Bank of Kansascity' https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC TV>li>nhr»no T elephone tftiAt (816) 99,d-9nnn 234-2000 w ASK DICK RETZ to m a k e M N B w o r k fo r y o u . Toll fre e 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK bitrarily at a level $400 below the per acre price allowed on this exam! During the review of the report with the examiners he said he was told “ W e’re going to close up these small banks. You’re done for. Small towns are out. You might as well get a sup ply of plywood and be ready to board up your bank and schools within five years.’ ’ Another banker told us basically the same approach. He acknowledged, also, that all rural banks have some problem loans because of the very nature of the customers they serve, the farmers. But he reported the same hard-nosed approach aimed ap parently at seeking out every loan with any possibility o f being classified and tagging it with that label. This banker advanced an in teresting theory, supported by other bankers as well. That theory is based on the stated intention of FDIC and some regulatory agreements in Washing ton that FDIC should get out of the SKI COLORADO Stay within minutes of 4 major Colorado ski areas. Luxury and economy condomin iums and townhomes. Call: Dwayne Smith, Anne Marie or Sue at PARADISE PROPERTIES Toll Free 800-922-2590 _______Denver, 892-9367 or 303-468-5846. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis examining business and rely on ex president of Lisco State Bank in ams from the states and other Lisco, Nebr., who is cheif ag spokes federal regulators. But, this upsets man for the IB AA, that every time the field FDIC examiners who feel the examiners write down those ag that their examination system of the loans it means reserves are hit and past 50 years has worked exceeding when they pull down capital below ly well and, “ if it ain’t broke, don’t the acceptable level, more capital needs to be brought in—by new fix it.” Consequently, examiners, accord stock or more generally by stock ing to this theory, are bearing down loan borrowings. If it isn’t met, on banks for two reason. First, to capital is declared impaired and the preserve their function and their bank closes. The question is jobs. It is said privately among whether city banks will continue to many FDIC examiners that they in make bank stock loans for capital tensely dislike their boss, Chairman improvement. A t least one banker’s Bill Isaacs. This is probably par for note for this purpose, although it had the course for tenured civil service been paid down on time, was sum employees when relating to political marily called recently by a major ly appointed superiors. They feel he city bank. Collateral values are at the crux of has no understanding of the ag sec tor and that he is crass in his ap much of the difference of opinion preciation for and empathy for the with FDIC examiners. In north cen bank and their ag customers caught tral Iowa, for example, where top in the current economic trap dis farm land is located, FDIC has writ cussed above. They feel he “ doesn’t ten per acre prices down to $1,900. give a damn” because he is getting In Nebraska it is reported that some out as chairman, and relates only to good irrigated land similarly has been written down to dollar levels big banks. Chairman Isaac, in reflecting on below current prices. FDIC has im the soundness of the FD IC’s re posed a 40% reduction on farm ma serves, made a statement recently to chinery values, writing it at 60% of the effect that his staff could liqui current value, although some inde date a country bank every day and it pendent assessments by profes wouldn’t make any difference. The sionals place the machinery values field examiners in the midwest who at higher prices than the bank was know agriculture and ag banks ap even carrying them. All the bankers involved in our parently resented that and are try ing to prove Mr. Isaacs wrong, this discussions acknowledged they have banker surmises. If they can prove problem loans. They acknowledge him wrong with the big buildup in that FDIC examiners by and large workload by helping close rural “ know the territory.” But they feel banks through overclassifying ag the screws are being tightened for loans, then the resulting liquidation purposes beyond the necessity of workload will show their jobs are current exams and that whatever pressures are causing that screw needed. Secondly, this banker pointed out, tightening they are hurting banks he feels the FDIC examiners he has trying to serve agriculture. known and who have visited his If FDIC is using the bank ex bank for many years, know the mid amination route to achieve some west, they know agriculture and its ends of its own, they are mis-using importance not only to banks but the bankers whose trust and cooperathe nation. Since agriculture ob viously has not come out of the late Ag Banking Specialists ’70s and early ’80s recession, as Let us help with your career advancement or staffing other sectors of the economy have needs. Call in confidence, without obligation. Employ ers pay our reasonable fee to hire the best. done, and Washington seems to be totally ignoring the problem, this has led FDIC examiners to following the book, using sometimes arbitrary writedowns on land and machinery and forcing the issue by making it difficult for survival of the banks that finance farmers. “ Maybe FDIC Linda 515/394-5827 Jean 515/263-9598 (T/W/F) is using the back door approach to New Hampton, la. 50659 712/779-3567 (M/TH) I Massena, Iowa 50853 bringing the ag problem to the attention of the White House and a g n C A R EER S , IN C . their own bosses,” he concluded. He pointed out, as did Tom Olson, # Supplement to Northwestern Banker Newsletter 1-14-85 Homestead Managei 2024 NW 92nd Court, Suite 1 Des Moines, Iowa 50322 (515) 225-0085 wstems, Inc. % A short time ago, the agriculture software experts at Homestead proudly announced a revolutionaTyyÇ^^&ol agricultural credit analysis and financial planning for the farm: THE HOMESTEAD FARM FINANCIAL PLANNER Created in conjunction with ag-lenders and farm management specialists, THE HOMESTEAD FARM FINANCIAL PLANNER was specifically designed to meet the unique requirements of agricultural lending. THE PLANNER generates a true cashflow-based analysis of your borrower’s ability to repay. Using THE PLANNER your bank can * stream line the analysis of fin a ncia l information in farm loan applications; * increase your share of profitable ag-loans; and * improve the managerial effectiveness of your farmer borrowers. REPORTS GENERATED: * Consolidated Cash Flow Including Operating Loan Requirements * Enterprise Cash Flow for Each Type of Operation * Pro Forma Income Statements (cash and accrual) * Pro Forma Balance Sheet * Statement of Changes in Financial Position * Budget-to-Actual Comparison * Financial Ratios ADVANCED FEATURES OF THE PLANNER * Easy to Use, Menu-Driven Format: This software, like all Homestead packages, is designed to be simply powerful. Our menu-driven format leads even the least experienced computer operator easily through the system. * Brings the Farmer and the Lender Together: A major challenge of ag-lending is getting the needed information from the farmer to the ag-loan officer. That’s why THE PLANNER projects working capital requirements and credit worthiness by simulating the actual operations of the farm. THE PLANNER asks the farmer to answer questions in his area of expertise. The computer then does the laborious number-crunching, giving you more accurate and objective data to analyze and more time to make the key financial judgements. * Built-in Data Tables Compensate For Incomplete or Poor Information: THE PLANNER captures a comprehensive range of data about your farmer/borrower’s operation. But what if that information is missing or suspect? Or, what if you want to take just a quick look? No problem. Each PLANNER comes with built-in data tables containing price/cost values for each enterprise (crops, feedlot, cow/calf, hog, etc.). THE PLANNER automatically defaults to these values, although they may be easily overridden for a particular farm or changed by your own experts. CALL US TODAY.... TO ARRANGE FOR A DEMONSTRATION IN YOUR BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis At Homestead, We’ve Done Our Field Work. S in ce 1978, H o m e stea d ’s p rim a ry o b je c tive has been th e d e velo p m en t o f m icro co m p u te r s o ftw a re fo r a g ricu ltu re . O u r e xp e ris e in m icro co m p u ters is d em o n stra te d b y o u r w o rk in d e velo p in g in fo rm a tio n h and ling s y s te m s fo r th e W in n ip eg C o m m o d ity E xch a n g e and Lond on In tern a tio n a l Fin a n cia l Fu tu re s E xch a n ge . T h e s e are th e o n ly c o m m o d ity exch a n g e s w ith m icro c o m p u te r-d rive n tra d in g s ys te m s . S o ftw a re d evelo p ed b y H o m e stea d fo r use b y fa rm e rs on th e ir o w n m icro co m p u ters is being s u c c e s s fu lly m arketed und er p riva te label b y m a jo r a grib u sin e ss firm s and a s s o c ia tio n s s e rvin g fa rm ers and ra n ch e rs th ro u g h o u t N o rth A m e ric a . H om estead s o ftw a re is a lso being used b y fa rm m anagers, a c c o u n ta n ts and b a n ke rs w h o p ro vid e financial reco rd keep in g and co n s u ltin g s e rvic e to fa rm ers. N o w , w ith the H o m e stea d Farm Fin a n cia l Planner, w e are p ro vid in g co m p u te r-a s s is te d s o lu tio n s to the in fo rm a tio n , p lanning and d e cisio n -m a k in g needs of a g rifin a n ce p ro fessio n a ls. COMPARE THE FEATURES OF THE FARM FINANCIAL PLANNER F E A TU R E H O M ES TEA D Supported b y b uilt-in data tables Yes A full line of pro form a reports Yes Sim ulated actual farm a c tiv ity Yes M enu-driven form at - e a sy to use Th rou gho ut C hecks fo r va lid program and d ata files A u to m a tica lly D ata integration b etw een m odules Yes Reports on screen or printed Ye s Tra in in g and support availab le Yes Operating syste m co m p a tib ilty M SDOS M inim un R A M requirem ent 256K M inim un flo p p y ca p a city required Dual flop p y 320 each Dot m a trix fJO colu m ri M inim un print requirem ent O TH E R DON’T BUY ANY OTHER AG-CREDIT PACKAGE UNTIL YOU’VE SEEN... (Please C u t Here) THE HOMESTEAD FARM FINANCIAL PLANNER □ □ □ Please call to arrange a demonstration of THE PLANNER in my bank. Please send me more information on THE PLANNER. Please tell me how Homestead’s other agricultural products can help me generate more fee income for my bank. Name______________________________________________________________ _ _ T itle ___________________________________________________________________ Bank/Company__________________________________________________________ Address______________________ City______ ________State____________ Z ip____ Phone__________________Asset Size________________ B ranches______________ Homestead Management System, Inc., 2024 N.W. 92nd Court, Des Moines, IA 50322 (515) 225-0085. Send this coupon to: https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 * ^ • Call on the “Experienced Professionals” R eady to m eet yo u r co rre sp on d e nt needs. wwmww I ™ s r N g o r ^ L fc c O L N A Firslier Company ^ tion they seek. If this is not true, there is a world of difference in the opinion of full-time bankers on how they should run their banks and the opinion of FDIC examiners on how well they are doing that job. □ Comptroller Resigns ® ® ^ C. Todd Conover, 44, Comptroller of the Currency the past three years, has resigned his post and plans to depart from that office in the spring. With the resignation of FDIC Chairman William Isaac and FDIC Direc tor Irvine Sprague already an nounced, that means three new FDIC directors will be named by President Reagan. Iowa News • • • The January 17 meeting of the Central Iowa Chapter of Bank A d ministrative Institute will be held at the Westmark Inn, W est Des Moines. Social hour will begin at 5:30 p.m., followed by dinner at 6:30 and meet ing at 7:30. Guest speaker for the evening is Howard Hagen, state department of banking, who will give a Legislative Update. For reservations contact Tom Quinlin at Norwest Bank Des Moines, N.A., 666 Walnut. Nebraska News a 0 0 • OM AHA: Eric S. Turille has been promoted to division head, cor porate administrative division, at First National Bank. Mr. Turille joined the bank in 1973 and most recently served in the credit card division in charge of operations. W EST POINT: Steve Sill has joined Farmers and Merchants National Bank as executive vice president. He previously was vice president at First National Bank of Bancroft, where he has been since 1980. M ember, F.D.I.C. First State Bank o f Little York into Monmouth Trust and Savings. The merger, effective December, 1984, has allowed for expansion of Mon mouth Trust’s marketing area, while the Little York Banking Center will now be able to offer a wider range of services and products. Minnesota News M ARSH ALL: Stephen A. Tomio has joined the staff of First Ameri can Bank & Trust as vice presidentagricultural loans and as manager of the agricultural credit department. A native of Turtle Lake, Wisconsin, Mr. Tornio has been associated with several Wisconsin banks the past ten years. MINNEAPOLIS: Richard Reis has been elected senior vice president and mass market manager at Nor west Bank Midland. He began his Norwest career in 1963 at the South St. Paul location and in 1982 joined Norwest Bank Central, where in 1984 he was named senior vice presi dent and manager of retail banking. ST. PAUL: David A. Zelinsky has been elected president and a director of First Bank Grand. He succeeds Donald G. Dick, who retired. Mr. Zelinsky has been with First Bank System since 1976 and most recent ly served as assistant to the manag ing director o f First Bank System’s Metro bank affiliates, a position he has held since 1982. He was pro moted to vice president earlier this year. Illinois News EVANSTON: Bruce I. McPhee has been promoted to president and chief executive officer of First Illi nois Bank. He succeeds Howard B. O M AH A: Charles T. Undlin has Silverman, who will continue as been named president and chief ex ecutive officer of Norwest Bank chairman, devoting a majority of his Omaha, N.A., effective February 1. time to the operations of First Illi Mr. Undlin formerly was president nois Corporation, where he serves as of Norwest Bank Black Hills, N.A. president and CEO. Mr. McPhee has in Rapid City, S.D. and is currently been an officer o f First Illinois Bank one of three vice chairmen of Nor since he joined the organization in west Bank South Dakota, N.A. Mr. 1978. Undlin succeeds John R. Cochran, MONMOUTH: Mark D. Pingrey, who will continue serving in a dual president and chief executive officer role as president of Region V and of Monmouth Trust and Savings chairman of Norwest Bank Omaha. Bank, has announced the merger of https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • South Dakota News ARM OUR: Following the sale in November of First State Bank of Ar mour to Lauren Lewis o f Sioux Falls and his two sons, Allen Lewis of Yankton and Paul Lewis of Palm Desert, Calif., the following elec tions have been announced: LeRoy Hofer, president and chief executive officer; Gerald M. Wenzel, vice president second officer and man ager o f the Delmont Branch; Jerry Altenburg, assistant vice president, cashier and assistant manager o f the Armour bank, and Merlin Goehring, assistant cashier and assistant manager of Delmont Branch. Mr. Hofer previously was executive vice president and CEO. Mr. Wenzel joined the bank in 1966. Mr. Alten burg joined in 1976. The bank was purchased by the Lewis’ from the Winter family. Lauren Lewis now serves as chairman of the bank and Allen Lewis as vice chairman. North Dakota News MINOT: A t First American Bank & Trust of Minot, Todd Vangsness has been promoted to vice president. Mr. Vangsness is a graduate of North Dakota State University and has been with the bank since 1977. B A N K IN G SPE C IA L ISTS LENDING • TRUST • OPERATIONS • s H S l F o r Prompt, Courteous, Professions! Attention To Y o u r S ta ffin g Needs, Call On Us. Diane Evans 816/842-3860 R egency RECRUITERS, INC. 1102 Grand Avenue, Kansas City, MO 64106 WANT ADS—Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identify of file letter ad vertisers cannot be revealed. NORTHWESTERN BANKER, 30615th St., Des Moines, Iowa 50309. Phone 515/244-8163 Financial Careers CEO for $25 million Iowa bank. Prefer experienced banker with college degree............................... Salary $35,000 + CORRESPONDENT OFFICER for major midwest bank. Prefer college grad, ag oriented, to travel Wisconsin or Illi nois ........................................................... Salary $35,000. POSITION AVAILABLE COMMERCIAL LENDER for $600 million midwest bank. Must be experienced in handling major credits and good at documentation.....................................Salary $40,000. SENIOR VICE PRESIDENT—The individual will supervise all loan departments. Requires Bachelor’s degree plus minimum five years' lending experience. Salary commen surate with experience plus excellent benefits. Excellent career opportunity. Contact: Steve Afdahl, President Hawkeye Bank and Trust, P.O. Box 4068, Spencer, Iowa, 51301. Member Hawkeye Bancorporatlon. Phone 712/262-1940. (PA) NUMBER TWO person for $140 million bank. Must have loan experience in larger bank. Position leads to CEO . . . . .................................................................Salary $50,000 + COMMERCIAL LENDER for major bank in scenic Montana are a .......................................................... Salary $36,000. COMMERCIAL LENDER for major southern Minnesota bank. Requires 5 or more years experience......................... ...............................................................Salary to $40,000. 2ND INSURANCE AGENT—all lines experience preferred. Must have Minnesota Licenses. Salary $15,000-$20,000 base, plus commission. Call Ben Lohre, Manager, Farmers State Agency, Mountain Lake, MN 56159. Phone 507/427-2422. (PA) COMMERCIAL LOAN OFFICER—Immediate opening for head of commercial loan department. This person will also supervise officer in charge of consumer loans. Minimum of 3 years commercial experience required. Salary com mensurate with experience. Excellent benefits and career opportunities. Contact: Robert S. DeWaay, President, United State Bank, P.O. Box 309, Cedar Rapids, IA, 52406. Member Hawkeye Bancorporatlon. Phone 319/366-8413. (PA) TRUST OFFICER for $300 million midwest bank. Prefer lawyer or CPA with 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. TRUST OFFICER for $70 million Iowa bank. Prefer lawyer with two or more years experience in handling trusts and esta tes..................................................... 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. FOR SALE CASHIER for eastern Nebraska bank. Requires 3-5 years experience................................................ Salary to $32,000. AG LENDER for community bank located in scenic area of eastern Iowa. Prefer college grad with ag experience . . . . ...................................................................Salary $30,000. BURROUGHS MODEL TT100 TELLER MACHINES—No reasonable offer refused. Contact Craig Fahrner, Bank of Clarendon Hills, 200 Park Ave., Clarendon Hills, IL 60514. Phone 312/920-3900. (FS) AG LENDER for northern Iowa bank. Prefer college grad with one or two years experience. Must know documenta tion ........................................................ Salary to $25,000. ONE NCR PROOF MACHINE #775 with 20 pockets. In good working condition. Available in three months or by 2-28-85. Contact Art Wanderer, Phone: 312/257-5767. (FS) POSITION WANTED D O N -S cH C X X E R In ENTRY LEVEL POSITION in a bank. December 1984 gradu ate from Iowa State University with a BBA degree in Fi nance. Emphasized areas were Financial Institutions and Investments. Also, numerous courses in Accounting and Economics. Bradley B. Sterk, 1506 West Salem, Indianola, IA 50125. Phone: 515/961-3432. (PW) "S u ccessfu l Banking is Quality P ersonnel" AND- COMMERCIAL LOAN OFFICERS Portland, Oregan position requires 6-10 yrs. com mercial lending exp. with credits from $500K and up. Excellent career potential.,.$40-48K. Positions also available in Washington, Idaho and Montana. Contact: Ed Allan, EDWARD B. ALLEN, INC., 5331 S.W. Macadam Ave., Suite 215, Portland, OR 97201. Phone 503/224-4661. Banking Specialist since 1976. Employer Fee Paid. (PA) ASSOCIATES 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 will be kept confidential until you are inter ested in a specific position. Eighteen years of banking serving as President of rural and metropolitan banks enables me to match you, technically and personally, with the right bank ing environment. POSITIONS CURRENTLY AVAILABLE Missouri, Iowa Oklahoma, Kansas, Arkansas, Illinois, and Nebraska POSITIONS WANTED COMMERCIAL LENDER, $150mm bank, $10,000 portfolio, middle market credits, excellent loca tion .......................................................... $35,000 TRUST OFFICER - CPA, JD aggressive, tactful and results oriented professional with 8 + yrs in highly responsible trust position. Strong accounting and legal history. $30K. COMMERCIAL LENDER, $100mm + bank, solid commercial construction lending background, $10mm portfolio, work-out cre dits........... $40,000 VP/CASHIER - Profit-minded professional with 4 + yrs exp as #2 man in a community bank. Implemented computer conversion and able to work with individuals at all levels. $25K. SR LOAN OFFICER • 15+ yrs in large bank environment. Solely responsible for $100 + mm loan portfolio of multi-in dustry nature. Top-notch work-out loan exp. $45K. PRESIDENT, in a top suburban location, strong business development and social background . . . .................. OPEN WITH OWNERSHIP EQUITIES PRESIDENT • BBA, MBA. 10+ successful yrs at VP level with $80 + mm bank. Proven problem solver, cleaned up several distressed portfolios on way to the top. Highly re spected leader with excellent references. $80K. COMM’L LOAN OFFICER - Now with a $18mm bank and 3 yrs hands-on exp. Extensive ag-lending and comm’l lend ing work. BBA. $28K. FOR FURTHER INFORMATION RESPOND IN CONFIDENCE TO: R. KURT ROSENCRANTS AT (515) 244-4414 i H M1 R O B E R T M fBLF R M 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 <M H 1 <M 1 ® ALL FEES COMPANY PAID 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 administrator................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 with 3 or more years experience and farm background. Good documentation 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 E.V.P. - Central Nebraska. Need commercial and some ag experience. No degree. $35K Range. AG LENDERS ■N.W. Iowa. Degree + 3-4 years of ag lending. 5-6 million ag portfolio. No. 2 spot. $30K Package. MARKETING ■Need hands-on work with advertis ing, plus new product development. Degree. Omaha location. Salary is open. Call or send resume to: Richard L. Beem GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 - Member National Personnel Assoc. We’re Nationwide POSITIONS A V A IL A B L E REAL ESTATE OFFICER - manage dept, for $100MM bank located in college town. Experience with secondary mar ket operation a plus. $28K SECOND OFFICER - $35MM Agri-oriented bank. Minimum five yrs. Ag-Lending experience $35K SENIOR LENDER - supervise all lending divisions of $125MM community bank. Degree and experience in large bank desired. $45K COMMERCIAL LOAN - $75MM suburban bank affiliated with major holding company. Requires excellent docu mentation and analysis skills. $30K CEO - medium size Ag bank located in small northern Mis souri community. Previous administrative experience re quired. $40K Additional opportunities available in Midwestern States. TOM H A G A N & A S SO C IA T E S 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 13 No. 39 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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