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0 Des Moines, Iowa Vol. 12 No. 40 January 23,1984 M ost Bank Failures Since 1939 URING 1983 a total o f 48 fedeD rally-insured banks were de clared insolvent, the most since 1939 when 60 banks were closed. According to statistics compiled by the Federal Deposit Insurance Corporation, the 48 bank failures in 1983 represent a post-Depression re cord, topping all previous years since 1940 when 43 insured bank failures occurred. In 1937 there were 77 failures among FDIC-insured banks, the most in any year since the FDIC was established in 1933. The FDIC settled 34 of the 1983 bank failures by arranging purchase and assumption agreements with other banking institutions. Nine de funct banks were liquidated, three were merged with healthy institu tions, and the deposits held by two institutions were transferred to other banks. The transfer-of-deposits tech nique for resolving a bank insol vency was never used before 1983 by the FDIC. It first came into play in July following the collapse of Chica go-based Union National Bank. A t the time, the agency said it received no acceptable bids from other insti tutions for Union National’s depos its and assets. Rather than pay off depositors, the FDIC decided to test the deposit transfer procedure to see if it could be used to minimize the tional Association of Bank Women will be held in conjunction with the disruption in services for customers Group I meeting Saturday, Febru ary 11 at 9:00 a.m. The meeting will of an insolvent bank. The deposit transfer approach ap be held at the Marina Inn in Sioux parently proved to be more effective City, Nebr. Shirley Poertner, N ABW than the FDIC originally antici Certified Leader, will present the pated. When used again during program. November following the failure of CEDAR FALLS: Don Lindaman Atkinson Trust & Savings Bank, has been appointed president at the the agency managed to maintain Cedar Falls Trust & Savings Bank. services for the bank’s customers He will succeed Paul Hall, who will and also received an unprecedented remain as chairman of the board and $1.5 million purchase premium from chief executive officer. Prior to his the bank assum ing A tk in son appointment, Mr. Lindaman served Trust’s deposits. as senior loan officer and cashier and While the failure work-load at the on the board of directors. FDIC was heavier than during most other years, supervised merger ac CED AR RAPIDS: Following its an tivity declined during 1983 at the nual meeting, Merchants National Federal Home Loan Bank Board as Bank announced the promotion of the thrift industry began to return Henry Royer, president, to the addi to profitability and the agency be tional post of chairman. He succeeds gan awarding promissory notes to James E. Coquillette, who retired troubled institutions under the new earlier this month. Also promoted were Hugo C. Burdt to vice presi net worth assistance program. According to Bank Board statis dent and Ronald D. Neil to vice pres tics 33 supervised mergers involving ident and auditor. 46 thrift institutions were assisted LAKE CITY: Lake City Bank has by the Federal Savings and Loan In announced the recent promotion of surance Corp. during 1983. During Michael F. Newland, formerly vice 1982 the FHLBB supervised 47 president and cashier, to senior vice FSLIC-assisted mergers involving president and cashier in charge of all 71 troubled institutions. □ lending functions. Iowa News LUANA: Dale A. Linderbaum has The February meeting of the been promoted from assistant vice Northwest Iowa Group of the Na president to vice president and Jan ASK STAN FARMER to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank ii i Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA' BANK 2 mmmmm N o rw e s t B a n k D es M o in e s , N .A. NORWEST BANKS C a ll (51 5) 2 4 5 -3 1 3 1 o r to ll- fr e e (800) 3 6 2 -2 5 1 4 mmmmm mm'imm M e m b e r F D IC ■St ai f 1 M M Teamwork: one of the reasons we’re first in Iowa. E mÊÊtÊÊÈ ■HP 'Sjy W j I V 4 T o m Q u in lin D e n n is N a h n s e n Bruns from assistant cashier to as The panel wül include Phyliss Otto, sistant vice president o f the Luana assistant vice president of First Na Savings Bank. tional Bank o f Countil Bluffs; Bar bara Nielsen, assistant vice presi ROLFE: Rolfe State Bank has ap pointed Robert J. Dixon piesident dent o f Norwest Bank Omaha West, and Susan J. Johnson cashier. R.D. and Alice L. Roy, assistant loan of Dixon, formerly president o f the ficer of Southwest Bank and Trust. Rolfe State Bank, will remain chair LINCOLN: First National Lincoln man and retain executive responsi recently announced the election of bilities with the bank. Clark Mattingly as vice president and auditor and C. John Guenzel as SIOUX CITY: Larry Müler, former vice president and trust marketing ly vice president o f the First Na manager. Both were formerly assis tional Bank in Sioux City, has been tant vice presidents. promoted to executive vice presi dent o f the First National Bank in SCOTTSBLUFF: A t Scottsbluff Ada, Oklahoma. Mr. Miller joined National Bank and Trust Co., Craig the Ada bank in August, 1982, and K. Madson was elected vice presi had been serving as senior vice dent and Jeanne Schuldies was president o f that bank until this elected administrative assistant. most recent promotion. Mr. Madson wül administer the bank’s newly established leasing THORNTON: Gary L. Younge has program, in addition to dealing in been promoted to chairman and exe commercial lending and real estate cutive vice president at the recently lending. Ms. Schuldies has been held annual meeting of First State with the bank since 1978. Bank. Also promoted were Terry D. Long to vice president and trust of ficer and Gerald Haugland to vice Minnesota News president. The Minnesota Bankers Associa tion Senior Bank Management Con Nebraska News ference wül be held at the Amfac The Mid Plains Group of N ABW Hotel in Minneapolis, February 7-8. will hold its first meeting of 1984 at A special reception and dinner the Oak Creek Inn on January 24, wiU open the conference on the 7th. with dinner at 6:30 p.m. Featured speakers are Douglas The program wül consist o f three Kiker, NBC News National Affairs panel members discussing “ Every Correspondent, and Lou Holtz, Uni thing You Wanted to Know About versity o f Minnesota head footbaU Credit But Were Afraid to A sk.” coach. Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank m DES MOINES, IOWA 50304 A BANKS OF IOWA BANK Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DULUTH: E.L. “ Bud” Ellefson, has been elected president and chief executive officer of Miller Hill State Bank, announced Carl P. Hill, chair man. Mr. Ellefson previously had been serving as president of Airport State Bank, Hermantown, since 1977. He succeeds Mr. Hill, who has served as acting president since the Paulucci family acquired 100% in terest in Miller Hill State Bank last December. Illinois News CHICAGO: Richard L. Panozzo has been elected vice president/financial services at Lakeside Bank. He pre viously served as senior vice presi dent and cashier at Oak Brook Bank in Oak Brook. DECATUR: Anne Gann has been promoted to vice president o f Soy Capital Bank and Trust Company. Mrs. Gann joined the bank in 1967 and most recently served as person nel administrator. Wisconsin News BRILLION: H. James Jensen has been named president and chief exe cutive officer of Calumet County Bank here. He succeeds Robert T. Ambrosius, who retired December 31. Mr. Jensen has been with the bank since 1961 and most recently served as executive vice president. Both Mr. Jensen and Mr. Ambrosius are members of the bank’s board. MENOMONIE: Gerald A. Talen was named chief executive officer of First Bank & Trust. Mr. Talen, son of Clare Talen, First Bank president and chairman, has served the last 30 years with NCR Corporation. W AUKESHA: Independence Bank Waukesha has announced the pro motion of James P. Riley, Daniel T. Sacho and David Vetta to vice presi dent. Mr. Riley has been with the bank since 1974 and served as com mercial loan officer during most of his career. Mr. Sacho joined in 1974, most recently serving as senior loan officer at the Butler offices. Mr. Vet ta joined in 1976 and is now director of rotunda banking. South Dakota News The South D akota Bankers Association 1984 Bank Manage ment Seminar will be held February Supplement to Northwestern Banker Newsletter 1-23-84 W here success is etched in quality. he success of your bond portfolio is a function of quality investments. After all, quality is your best assurance of growth in earnings. United Missouri’s Investment Banking Division can make sure you’re investing in high quality securities. W e offer exactly what you want. And, for over 50 years, our track record for making successful recommendations has been excellent. Undoubtedly due to our consistently high standards; Call or write us today. W e’ll hold your investment information in the strictest confidence. Investment Banking Division UNITED MISSOURI BANK of Kansas C ity n.a. M e m b e r FD IC United w e grow.Together. 10th and Grand o 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 CALL ON THE “PERFORMANCE TEAM” where common transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. • ® ® ™ ^ 0 £ 9-10 at Ramada Inn in Sioux Falls. Fargen joined the bank in 1980 and and internationally. His morning Registration will begin at 12:30 served as executive vice president program will be entitled “ Cash p.m. on the 9th. Keynote speaker until his recent promotion. Flow, Its Impact on Growth and that afternoon is John Elkins, vice Debt Servicing.” president o f Naisbitt Groups and Mr. Dan F. Boehle, vice president North Dakota News Trend Report, Denver, Colo. That and manager, Financial Institu . evening, guest speaker for the lun MINOT: The board of directors of tions, Omaha National Bank, will cheon is Fred J. Young, Chicago, 111. Norwest Bank, Minot, N.A., recent present a program on “ Agriculture, Friday, February 10, will consist ly approved a reorganization plan Its Outlook for 1984.” Charles H. o f a Legislative Update at 8:30 a.m., for the bank and promoted several Powers, senior vice president, loan followed by four workshops which staff members. Thomas R. Stockert, administration, United Bank of will be presented twice in the morn senior vice president and cashier, Denver, will bring the group up-tohas been designated to second of date on “ Bankruptcy, a Current and ing. The afternoon will feature talks ficer and manager of the consumer Continuing Problem.” In addition, a on Financial Futures, Problem Cred- banking group. James O ’Donnell, short legislative update will be pre its, Call Report Preparation and vice president, has been promoted to sented by Cliff Kirk, executive vice Microcomputer Use in Banking. senior vice president and manager of president, First National Bank of Speakers include: Walter E. Mead- the business group which includes Gillette and chairman o f the legisla ley, Jr., executive vice president at agri-business and commercial. In ad tive committee. National City Bank Financial Fu dition, Mr. O ’Donnell will be chief The conference will be held at the tures, Inc., Minneapolis, Minn.; a credit officer. Steven D. Vangsness Ramada Inn with registration at representative from the comptrol has joined the bank as an assistant 3:00 p.m. on February 9, followed by ler’s office; Jacalyn Hansen, FDIC vice president in the agri-business cocktails, dinner and entertainment. examiner; Douglas Duey, president, department. Also promoted were R. On Friday, the 10th, the meeting Eagle State Bank, Eagle, and Greg Wayne Brostom to vice president, session will convene at 8:45 a.m., Gissler, EDP program coordinator, human resources; and Dean A. Nel with adjournment scheduled for Cass County Bank, Plattsmouth, son and James F. Crawford, assis 4:00 p.m. tant vice presidents, commercial Nebr. banking and operations respec PIERRE: Newly appointed Chair tively. Montana News man Gene Hawk has announced the appointment of Dennis Fargen to Wyoming News The Montana Bankers Associa president and chief executive officer The W yoming Bankers Associa tion ag credit committee, chaired by of First National Bank here. Mr. tion Winter Credit Conference Com Dean Simons, vice president of the mittee has set February 9 & 10 as Yellowstone Bank of Columbus, will the dates for the 30th Annual W B A be conducting its 1984 A g Credit Credit Conference, which will be Conference February 8-10 at the held in Casper. Holiday Inn Bozeman. This year’s program will be high The conference features Manning lighted by speakers such as Dean W. Becker, farm management specialist Duelke, president o f Deannco Finan from Oregon State University; Alan cial Services of Irvine, Calif., and Tubbs, president of First Central former vice president of Bank of Bank of DeWitt, Iowa; Richard A m e rica . M r. D u e l k e ’ s firm Wheeler, president of Winrock In specializes in providing accelerated ternational, Morrilton, Alaska, and financial analysis courses to the a presentation on the Beginning banking industry, both nationally Farmer Loan Program. General Bank Equipment Si Systems, Inc. An important new profit center for your bank: - F L t% ' ® '^ 4 K ■ RR 45, Box 115 Hiway 73 ,3 V i Miles North of Int. 680 Omaha, Nebraska 68152 (402)453-3000 Lease* Rent* Buy https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis a com puterized w local b illins/cred it service Contact: Leroy Bell or Milt Hennick 319-291-5412 National Bank of Waterloo 315 East 5th St • Waterloo, IA 50704 ' „ Member Federal Reserve System FDIC SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE Ag Banking Personnel Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi dential. Employers pay us to hire the best. PO SITION S A V A IL A B L E Executive w ith proven a dm inistration and lending background needed by major Iowa bank. Salary to $60,000 Commercial Lenderfor major Iowa bank, requires 10 or more years of experience...............................Salary $43,000 Number Two person for Iowa County Seat bank................ ...........................................................................Salary $38,000 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 Commercial Lender for suburban Twin Cities bank.............. ...........................................................................Salary $30,000 Ag Lender for eastern South Dakota bank........ Salary Open Installment Person for Central Iowa Community bank.......... ...........................................................................Salary $22,000 BANKING If you would like to evaluate your career, my clients across the country have a wide range of needs in operations, lending, and trust. Salaries are in the $20-80,000 range. Clients pay our service charge. Call or write: Walt Heyne, Dunhill of Fayetteville Box 1570, Rogers, Arkansas 72756 Phone: 501/636-8578 Commercial Real Estate person for Twin Cities area............ ...........................................................................Salary $35,000 Linda: 515/394-5827 Jean 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 ■ Massena, Iowa 50853 dqnC4Rffl?S, INC. • J Ag Lender for Northern Iowa community bank. Requires two or more years experience plus degree. Excellent opportunity in county seat tow n................................... Salary to $29,000 THE ORIGINAL AGRICULTURAL RECRUITER Ag Lender for N.W. Iowa bank. Salary range is open, depen ding on experience. Nice small community and working con ditions. POSITION WANTED POSITION AVAILABLE CREDIT MANAGER Immediate opening w ith progressive, innovative wholesale chemical distributor. Requires at least 2 years verifiable, successful experience in all as pects o f wholesale credit. Send letter of application and resume to file VBW c/o Northwestern Banker. (PA) COMMERCIAL LOAN OFFICER— Requires degree plus 3 years commercial loan experience. Some operations ex perience helpful. Salary open. Contact Steven L. Afdahl, E.V.P., Citizens National Bank, Boone, IA 50036. Phone 515/432-7611. (PA) OPERATIONS MANAGER— Large data processing com pany located in eastern Iowa and serving the financial in dustry is looking for a qualified individual to report directly to the CEO. Salary commensurate w ith experience and qualifications. Please send resume to file VBZ, c/o North western Banker. (PA) AG LOAN OFFICER— Excellent opportunity for aggressive person w ith minimum of two years banking experience. W ill be working in both the bank and the Ag Credit Cor poration. Send resume to Martin Gjerde, Bonanza Valley State Bank, Brooten, MN 56316. Phone: 612/346-2234. (PA) PRESIDENT for $13 m illion bank in college town located in Southeastern Wyoming. Good opportunity for aggressive, hard-working, knowledgeable individual. Submit resume to: Chairman of the Board, Citizens Bank, P.O. Box 1027, Laramie Wyoming 82070. (PA) MATURE VP-Ag and installm ent lending. Medium rural ag comm unity w ith operations and workout loan experience. Write file WAA, c/o Northwestern Banker. (PW) SKI THE SUMMIT One, two and three bedroom units for sale or rent. Most with hot tubs. Phone 1-800/922-2590. Dwayne Smith PARADISE PROPERTIES Box S Dillon, Colorado 80435 Installment Lender for North Iowa County seat bank. Will head department................................................ Salary Open. We have many other positions available. Write or call Malcolm Freeland in confidence c/o Freeland Financial Ser vice, Inc., 1032 Carriers Bldg., Des Moines, la. 50309. Phone (515) 282-6462. Employer pay fee. B A N K IN G P LA CE M EN TS “ Successful Banking is Quality Personnel” Eighteen years banking experience serving as president of rural and metropolitan banks enables me to find the “ right” banking position for you as a banker or the “ right” officer for your bank. EXDn Q B A N K IN G O PPORTUNITIES AG LOAN OFFICER - one year experience To$18K CASHIER - $12 Mill. Nebraska bank 30K. MGR. - Cash Management Dept. Set up function and manage Open VP - AG LENDING - 5 yrs. experience. $29Mill. la bank 30K MGR. - STRATEGIC PLANNING. Asset/Liab., Product Knowledge 40K EVP - $17Mill. Nebraska bank. Strong operations 40K EVP • $135 Mill. Dakota Bank. Strong Commercial Lending 70K An Equal Opportunity Employer Commercial Lender for multi-bank holding company bank in Iowa. Requires 5 years experience. Leads to Dept. Head. . . . ...........................................................................Salary $35,000 Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 D o n a l d E. H o l d e r , Principal Leading Des Moines bank seeking mid to upper level Correspondent Banking O fficer for Iowa commercial services. 4 to 5 years Correspondent/ Commercial banking experience to include lend ing required. Both technical and people skills im portant. 4 year degree preferred. Liberal benefits package provided. Please send resume and salary requirements to file VBX, c/o Northwestern Banker. MOBILE BANK UNIT—12’x62’ complete banking equip ment. Includes drive-up window, night depository, two tel ler stations, private office o ff lobby. AVAILABLE NOW. Contact Drommer Leasing, 401 Queens Court, Sioux City, IA 51104. Phone 712/239-2315. (FL) A major Des Moines financial institution seeking Marketing Generalists. Opportunities available for individuals w ith bank and/or non-bank finan cial experience in advertising, research, promo tions, product development, public relations, and sales training. Prefer 1 to 5 years experience and 4 year degree in related field. Liberal benefits package provided. Please send resume and salary requirements to file VBY, c/o Northwestern Banker. CorrespondentOfficer for major midwest bank. Ag lending background a plus. Must have five ormore years banking ex perience.................................................................Salary open Bank Consultants CORRESPONDENT BANKING OFFICER FOR LEASE BANK MARKETING GENERALIST Commercial Lender for major bank in Eastern North Dakota. Requires degree and minimum of two years experience........ .......................................................................Salary to $30,000 cMoCdex and cdf’iio a ia ts.i An Equal Opportunity Employer DIEBOLD MODEL #114-75— Drive-up window. Always under service contract. Contact Lynn Minnmann. Phone 712/662-4721. (FS) Sr. Lender for Southern Minnesota multi-bank holding com pany bank must be experienced in commercial, ag, and retail lending..................................................Salary to $36,000 SR. LOAN OFFICER • $175 Mill bank. Commercial/Ag in Iowa 60K All o f these positions require a degree and banking ex perience. They are all Fee Paid and include excellent relocation packages, some w ith sign-on bonus. Please call, in confidence: Phyllis S. Lynch GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone 402/330-3260 c H O O LER lr~ 2508 East Meadow • Springfield, Missouri 65804 417/882-2285 COMPLETELY CONFIDENTIAL “ Employment Service” POSITIONS A V A IL A B L E SENIOR REAL ESTATE—supervise all lending functions for Kansas Sav. & Loan. Requires seven yrs. or more real estate lending experience. $40,000 COMMERCIAL LOAN—requires superior documentation and analysis skills. Manage commercial and real estate portfolio for $40MM bank. $35,000 REAL ESTATE LOAN—require lending, savings and business development skills. W ill manage d istrict for growing Sav. & Loan. $30,000 ASSISTANT CONTROLLER— large suburban bank desires accounting or finance major w ith some bank experience. Duties involve both operations and accounting. $20,000 AGRI LOAN— handle all agri credits and some commer cial for $30MM community bank. Could develop into se cond office r position. $30,000 Resume and salary history requested. All confidential. inquiries TO M H A G A N & A S SO C IA T E S P.O. Box 12346 - 2024 Sw ift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 No. 40 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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