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Vol. 11 No. 39 Des Moines, Iowa Prime Drops to 11% ; Stocks H it High HE PRIME RATE dropped onehalf a point at a number of banks January 11, making the 11% rate the lowest it has been for two and one-half years. The financial world was looking on late last week to see if the Fed would drop the discount rate again. The stock market, sens ing a further drop in rates, hit alltime highs three times, going up to 1092.35 January 10 before backing off a few points. Then, on Wednesday, January 12 the Dow Jones went briefly to 1101, the first time in history it had ever penetrated the 1100 mark, and wound up just short of the 1090 mark. Apparently, Secretary of De fense Weinberger’s announcement of an $8 billion defense reduction gave confidence, but President Rea gan’s following announcement of no tax increase in 1983 dampened the rally. T er in new MMDA accounts, al though there still has been no firm analysis on sources of the funds. It appears that perhaps $25 billions came from MMMFs, long a sore spot to banks and thrifts, some was new money from other sources, while a good share of it was trans ferred from within the institutions from non-or-lower-interest bearing accounts. The ABA, BM A and other associ ations are conducting marketing seminars to assist members in fur ther product development and mar keting strategies for the MMDA and Super NOW accounts. □ Iowa News About 200 CEOs and marketing officers are expected to take part in the Iowa Bankers Association’s 1983 Marketing Conference Febru ary 7-9 at the Marriott Hotel in The advent of the Super NOW on January 5 was almost a “ ho hum” affair in many quarters. After the success of the Money Market Depos it Account that became permissible December 14, the Super NOW au thorized by the DIDC as almost an afterthought could be classified in theater language as a “ bomb.” Banks and thrifts continued to gath SEND US YOUR NEWS Be sure to send us inform ation about prom otions, retirem ents or other news about your s ta ff and bank. For your convenience, one of our news blanks is in this issue so you may use it now or save for future use. Address it to: NORTHWESTERN BANKER, 306 15th St., Des Moines, Iowa 50309. January 17,1983 downtown Des Moines. The pro gram follows: M onday, February 7 Registration starts at 4:00 p.m.; exhibit area opens; orientation for new attendees; informal reception and buffet, then at 7:00 p.m. the key note speaker on “ Strategic Planning in a Deregulated Environment.” Tuesday, February 8 Continental breakfast at 7:30 a.m., followed by general session at 8:00 a.m.: “ Roundtable Strategic Planning” —bankers grouped by geographic location and deposit size, with report to full group. “ Position ing—As It Relates to Banking and Oil Business” —Jack C. Pester, chairman, Pester Corporation, Des Moines. “ Financial Services Usage and Attitude Study” —Allan Paro, ABA national advertising manager, Washington, D.C. “ Product Posi tioning for the Community Bank” — Dwight Seegmiller, vice president, Hills Bank & Trust. “ The Best of TV” —Bank Marketing Assn. A t the noon luncheon a legislative update will be followed by “ Banking Image and Marketing” —Donald O’Toole, Doremus & Co., Chicago. Starting at 1:30 p.m.: “ How to Double Deposits Without Increas ing Custom ers” —Jim Edwards, chairman and president, DAD Fi nancial, Inc., Nashville, Tenn. “ Mini Don't gam ble when choosing o correspondent bonk. Com e to the professionals. For any correspondent bonking need . . . overline assistance, data processing services, investment counseling . . . just give us o call. We're the professionals who put the response in correspondent bonking. ucb CENTRAL OF DES MOINES, N.A. • MEMBER FDIC • TOLL FREE NUMBER (800)362-1615 _________AFFILIATED W ITH UNITED CENTRAL BANCSHARES, INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W illiam B. Greaves, Vice President 2 Team w ork: One of the reasons we’re first in Iowa. Bob Buenneke Sue Van Dyke W ire Transfer An Affiliate of Northwest Bancorporation Member FDic Sessions” —marketing ideas on com mission sales, video training and certified financial planning. “ Future of Home Banking—Where Are You Going?” —Dale Reistad, chairman, Reistad Corp., Clearwater, Fla. “ Pros and Cons of Home Bank ing” —Jeff Sternberg, First Bank Minneapolis. “ Comments” —Dale Dooley, president, ITS, Inc., Des Moines. Bar/snacks at 5:00 p.m., evening on own. W ednesday, February 9 Continental breakfast at 7:30 a.m., followed by general session at 8:00 a.m.: “ Pricing Services Pro fitably” —Dale Wark, chairman and CEO, Commerce General Corp., Memphis, Term. “ How to Market in a Town of 90” —Neal Conover, exec- ASK JOHN MANGOLD to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Banco Call (5 1 5 ) 2 4 5 -3 1 3 1 or toll-free (8 0 0 ) 3 6 2 -2 5 1 4 dent of Henry County Savings Bank, Mount Pleasant, have an nounced an agreement whereby Banks of Iowa Inc. will make an ex change offer to acquire all the outstanding common stock o f Henry County Savings Bank. Subject to regulatory approval and approval of the board of directors of Banks of Iowa Inc., the acquisition should take place in the fourth quarter of 1983. DES MOINES: Jon F. Von Gillern utive vice president, Hayesville Sav and Pat McNemey have joined ings Bank. “ What Bankers Need to United Central Bank. Mr. Von Gil Know About the Marketing Pro lern was previously with Sidney B. cess” —Norwood W. ‘Red’ Pope, Smith & Company accounting firm senior vice president-marketing, of Des Moines. He becomes cor SunBanks of Florida, Inc., Orlando, porate trust officer. Mr. McNerney, F la. “ S tr a te g ic M a rk etin g vice president in the metropolitan Review’ ’—marketing com mittee. commercial services division, comes Adjourn at noon. to UCB from Western Bank in Sioux Falls, S.D., where he was assistant AMES: Larry Wenzl and Richard O. vice president in commercial loans. Jacobson, both of Des Moines, have completed purchase of the Universi FORT DODGE: Joe D. Lawler has ty Bank & Trust from Duane San- been advanced from executive vice dage and Richard Stark. Mr. Wenzl president at First American State was elected chairman and Mr. Ja Bank of Fort Dodge to president cobson also was elected to the board. and chief executive officer. He suc Mr. Wenzl said a one-bank holding ceeds Richard D. Clawson, who was company being formed will include fired January 8 by the board “ for other investors, several of which are personal reasons and in the best in Iowa independent banks, which will terest of the bank,” according to the allow ownership and sharing of ser bank’s attorney, Herbert Bennett. vices among numerous banks. Mr. Clawson, 48, referred all ques tions to his attorney, Robert Allbee DES MOINES: Eddie A. Wolf, sen of Des Moines, a former Iowa Su ior vice president and head of the preme Court Justice. The $130 mil correspondent bank division for lion asset bank had been examined many years at United Central Bank by state examiners within recent of Des Moines, has elected to take months and no major problem was early retirement, effective January reported. No further announcement 31. He and his wife, Ardie, will con had been made by the bank since the tinue to make their home at 7202 appointment of a new president. Maple Drive, 50322. MAYNARD: Controlling interest in DES MOINES: Holmes Foster, Maynard Savings Bank has been president of Banks of Iowa Inc., Des sold by Volney Palmer, chairman Moines, and Robert L. Norris, presi and CEO, and Don W. Buenneke, r -------------------------------------- ---------------- N Recipe for success.. .V. an m | * B em ie Miller, C orrespond ent Banking Officer, has o v er ' “ ‘ years o fE a n ld h g experience, and th e r e c ip e fo r success. Help yourself by calling Bem ie '"Miller at 31'9 /582-'l'84 'l:...-........... Am erican f % * # # • • • ® 0 Hutton One Carriers Building Des Moines, Iowa 50309 Telephone: (515) 243-1203 Moodys: A We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: $ 650,000 (part of an issue of $1,835,000) WEST BRANCH COMMUNITY SCHOOL DISTRICT, IOWA School Building Bonds DATED: June 1,1980 DENOMINATION: $5,000 Both principal and semiannual interest (June 1 and December; next coupon due June 1,1983) payable at the of# fice of the School Treasurer, West Branch, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITIES ® ^ Net Net After After Amount Coupon Maturity Yield 46% 20% $ 50,000 7.10% June 1,1994 8.47 8.80 8.66 $145,000 7.20% June 1,1995 9.00 8.68 8.86 $155,000 7.30% June 1,1996 9.20 8.90 9.07 $170,000 7.40% June 1,1997 9.40 9.11 9.28 $130,000 7.60% June 1,1999 9.65 9.41 9.55 Bonds maturing in the years 1991 through 1999 are optional June 1, 1990 or any in terest payment date thereafter at terms of par plus accrued interest to the date of redemption. LEGALITY APPROVED BY CHAPMAN AND CUTLER, ATTORNEYS, CHICAGO, ILLINOIS # The West Branch Community School D istrict is located in Cedar and Johnson Counties in east central Iowa. The D istrict includes w ithin its 125 square miles the City of West Branch, birthplace of President Herbert Hoover. Principal taxpayers within the D istrict include Iowa Electric Light and Power, Mid American Pipeline System, Northwestern Bell Telephone and Iowa Illinois Gas and Electric. Principal employers include Cargill, Inc., Tidewater Publication Corp., American Prosthetics, Inc., Pleiad Industries, Inc. and Larson Ready-Mix, Inc. Land values w ithin the District approximate the highest values w ithin the State. These bonds were authorized at a special election held June 19,1979, and were issued under the provisions of Chapter 296, Code of Iowa 1979, as amended for the purpose of providing funds to defray the costs of a new Senior High School. In the opinion of counsel these bonds are legal and binding general obligations of the School D istrict and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal and interest on the bonds w ithout lim it as to rate or amount. FINANCIAL STATEMENT • Actual value of taxable property Assessed value of taxable property Direct debt, including this issue Total direct, overlapping and underlying debt Population 1983 estimate: 4,500 Land Area: • Total debt per capita $531.04 Total debt per care $ 29.87 $118,220,352 100,487,300 2 , 120,000 2,389,676 80,000 Acres Tax collections have approximated 100% of taxes levied for the last five years. The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of particular m aturity may or may not s till be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 1-17-83 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Send Your News Today to the NORTHWESTERN BANKER TELL US ABOUT. . . 306 Fifteenth Street DES MOINES, IOWA 50309 Staff Changes Business Campaigns Mergers, Consolidations New Departments at the Bank Remodeling or New Building BANK .......................................................................................... OFFICER .........................................................................TITLE CITY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STATE Open Houses Anniversary Parties Deaths or Retirements Speeches Made by Bank Officers Special Announcements to the Public https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 CALL ON THE “PERFORM ANCE TEAM where com m on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 » Member, F.D.I.C. • • • president, to Mr. and Mrs. Clair Lensing of Marion, where Mr. Lensing is executive vice president of the Farmers State Bank. Mr. Lensing has been elected president. Jerry Burrack, executive vice president and cashier, will be chief operating officer. Beth A. Daniels continues as assistant cashier. ONAWA: Hawkeye Bancorporation has received Federal Reserve ap proval to acquire Onawa State Bank in a cash transaction, terms of which were not disclosed. The acquisition should be completed by the end of the first quarter. Onawa State, with assets over $46 million, will be Hawkeye’s 35th bank. Nebraska News _ 9 • ® • ^ 9 OMAHA: The Mid Plains Group of NABW will meet January 25 at Cascio’s Steak House, 1620 S. 10th St., with cocktail hour at 5:30 p.m., followed by dinner and meeting. Speaker will be Dean Hughes, econ omist with the Kansas City Fed. WYOMORE: W.W. Cook, Jr., chair man of the Wyomore State Bank, has announced a new president. Mike Braun, 35, succeeds Dennis Osmera, who resigned. Mr. Braun, formerly executive vice president of the bank, worked for the Federal Land Bank before joining the Wyomore State Bank in 1977. Minnesota News The 1983 Senior Bank Manage ment Conference, to be held Febru ary 8-9 at the Radisson Hotel, St. Paul, will bring together state lawmakers and Minnesota bank CEO’s to focus on legislative and economic issues. George Sugden, chairman of jamin Franklin S&L, Houston, Tex. the M BA Bank Management Com ROBINSON: Jerry Bailey has been mittee and president of North advanced from vice president to western National Bank, Mankato, president of Crawford County State notes that the 22nd year of the con Bank. He succeeds Joseph D. Hen ference will contain a “ 1983 Eco derson, who resigned to become nomic Options” program designed president of First National Bank in as a briefing on the economic choices Sterling. state legislators will consider in the next two years. STERLING: Joseph D. Henderson State representatives and sena has been elected president of First tors have been invited to attend the National Bank, succeeding Robert forum with banker delegates to the Bickel, 62, who has retired due to Conference and with their spouses health reasons. Mr. Henderson for will be banker guests at the Tuesday merly was president of Crawford evening reception and dinner. County State Bank at Robinson. Mr. Henderson previously was vice LITTLE FALLS: Roger E. Peterson president-agri business at United has been elected president of the Missouri Bank of Kansas City and First National Bank. A native of was in the ag department at Con South Dakota, he has been execu tinental Bank, Chicago. tive vice president of Chicago State WINNETKA: The First National Bank in Chicago, 111., since 1974. Bank has named Craig Arnesen sen ior vice president and Mary M. Illinois News Myers vice president. Other promo CHICAGO: Jerry Pearson resigned tions were: Roy Gibson, assistant recently from Harris Bank as vice controller; Catherine Neiweem, as president to become senior vice sistant cashier, and Agnes Schmidt, president-commercial loans at Ben personal banking officer. RISMILLER, HILL AND YAKE Getting it done for you. DavidRîsmi||er c. Carlton Hill, Jr. ^ ^ ^ President Executive Vice President Ernie Yake Senior Vice President Commerce Bank ofKansascity M » https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I M PMPPD c m n M Ti*l<=>nhrmo 9 9 4 .9 0 0 0 * South Dakota News SIOUX FALLS: T.J. Reardon, president of Western Bank, has an nounced the election of John E. Roers as vice president, agricultural loans, and Cindi H. Biever as assis tant vice president, operations. SIOUX FALLS: Leighton Scott has been elected corporate trust officer at the First Bank of South Dakota, according to David Birkeland, presi dent and CEO. Mr. Scott served as director of finance and accounting for the South Dakota Development Authority in Pierre for the past three years. W ANT ADS Rates a re $5.00 per line per insertion. Add $3.00 to rtile letters per inse rtio n . Id e n tity o f file lette r advertisers cannot be revealed. NORTHWESTERN BANKER, 30615th Street, Des Moines, Iowa 50309. Phone 515 / 244-8163. m POSITIONS AVAILABLE Senior Commercial Lender for Colorado bank. Requires minimum of five years experience in larger b a n k .............. .....................................................................Salary to $45,000 Loan Review Specialist for Illinois banking group, located in northern Illin o is .................................... Salary to $40,000 Audltor/Loan Review person for $150 m illion midwest Salary to $28,000 b a n k .................................. Employee Benefit C o n s e n ts Ag Representative for central Iowa bank. Requires tw o or more years e x pe rie nce ............................. Salary to $25,000 alarends Serving Banks and Their Customers In Iowa and Minnesota INDEPENDENT SERVICE COMPANY P.O. Box 171 • Albert Lea, MN 56007 507/373-8216 POSITION AVAILABLE Strong, aggressive Agricultural Lender needed for $35 m il lion bank within 35 miles of Des Moines. Must have sea soned experience in cash flow and analysis, direct farm call ing, & work-out loans. Opportunity to be 2nd officer within 1-2 years. Salary commensurate to experience. Send resume & salary history to file RBN, c/o Northwestern Banker. (PA) AG LOAN OFFICER— Minimum tw o years banking exper ience required. Ag degree a plus. $60 m illion central Iowa bank. Send resume to file RBR, c/o Northwestern Banker. _______________________________________________ (PA) OFFICER POSITION in northwestern Iowa. Minimum 3-5 years experience necessary. Insurance operations & loans. Contact Stanley O. Nervig, Vice President, Farmers State Bank, Marcus, Iowa 51035. Phone 712/376-4154. (PA) IBM DISPLAY WRITER—dual diskette unit, 5218 printer. Phone 319/557-8660. (FS) AG DEPARTMENT— Immediate opening for agricultural loan o fficer (or trainee) with a minimum of 3 years bank ex perience. Potential for advancement. Good compensation and fringe benefits. Growing independent bank ($29 million) in central Minnesota town of 1,000. Send resume to file SBB, c/o Northwestern Banker. (PA) AG LOAN OFFICER—$50 m illion central Iowa bank. Three years banking experience required. Ag degree desirable, but not absolutely necessary. Send resume to file SBD, c/o Northwestern Banker. (PA) AG LOAN OFFICER for $17 m illion NW Iowa bank. Ex cellent bank in excellent location. Send resume to file SBE, c/o Northwestern Banker. (PA) OFFICER TRAINEE—married w ith college degree. Prefer 1-3 years of banking experience but not essential. We are a progressive, fast growing NW Iowa bank w ith excellent fringe benefits and growth opportunity. W rite file SBF, c/o Northwestern Banker. (PA) COMMERCIAL LENDING OFFICER— Progressive $33 million southeastern Nebraska bank has an opening for ex perienced commercial loan officer. Salary commensurate w ith experience. Write file SBG, c/o Northwestern Banker. _______________________________________________ (PA) #3 LOAN OFFICER—$21 m illion north central Iowa bank. Prefer some experience. Send minimum salary require ment w ith resume to file SBH, c/o Northwestern Banker. _______________________________________________ (PA) Bankers Available Bankers Needed Employers have been paying us to hire better, faster, easier since 1968. Ask for one of our ag bank personnel specialists for up-to-date information on current bank openings and experi enced ag lending candidates. Call without cost or obligation today. All information treated confidentially. (5 1 5 )3 94 -3 1 4 5 NEW HAMPTON, IA 50659 (7 1 2 )7 7 9 -3 7 4 4 MASSENA, IA 50853 I NATIONWIDE dqn CAREERS, IN C. THE ORIGINAL AGRICULTURAL RECRUITER Commercial Lender for southeast Iowa bank. Requires three years e xpe rie nce ............................. Salary to $38,000 Correspondent Officer for major Upper Midwest Bank. Ag and commercial lending experience plus college degree p re fe rre d ......................................................Salary to $38,000 Commercial Lender for suburban bank in major Nebraska c i t y ................................................................Salary to $40,000 Operations/Cashier position in northwest Iowa com m unity b a n k ..............................................................Salary to $28,000 Ag Lending/lnsurance position in northwest Iowa bank near Lakes a re a ...................................................Salary open Ag Representative for northwest Iowa. Requires a min imum of one year’s expe rie nce.................... Salary $22,000 Number Two Person for southeast Iowa com m unity bank. Operations experience required................... Salary $27,000 Ag Representative for bank in major Iowa college town . . . ............................................................................... Salary open Operations position for North Dakota bank... located in great hunting and fishing a re a .................... Salary $22,000 Ag Lender position for bank near Des Moines. Some knowledge of operations a p lu s .................. Salary $25,000 We have many other positions open at present, so if you want to move up and further your career at this time, write of call Malcolm Freeland, Freeland Financial Service, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 BANK PLACEMENT SPECIALISTS (Our 34th year) Call experienced professionals to locate the right candidate for your vacancy ... or the right “ move-up” for yourself. CORPORATE RECRUITERS MIDWEST BANKING DIVISION 202 S. 71st Street 402/393-5515 Omaha, Nebraska 68132 POSITIONS AVAILABLE CEO—$40MM com m unity bank affiliated w ith holding company. Requires solid commercial loan background and excellent interpersonal skills. Challenging and rewarding opportunity for aggressive and p rofit oriented banker. $ Open BRANCH LENDER—handle installm ent, real estate and some commercial credits for fa c ility of M issouri resort area bank. $20,000 COMMERCIAL LENDER—opportunity to manage loan portfolio in $75MM suburban bank. Prefer degree and experience in sim ilar size bank. $38,000 AGRI-LOAN—serve as senior officer in $15MM rural bank. Degree in Ag desired. $26,000 PRESIDENT—small rural bank w ith m ajority of credits in cattle and feeder lots. Some background in operations re quired. $33,000 OPERATIONS—second position in $35MM com m unity bank. Handle internal operations, budgets, reports and asset-liability management. Accounting degree preferred. $28,000 Sample listing of current openings. For consideration, for ward salary requirements and resume.' All inquiries strictly confidential. TOM HAGAN & ASSOCIATES of Kansas City 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Voi. 11 No. 39 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth 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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