The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
4 Vol. 8 No. 40 Des Moines, Iowa January 28,1980 -% Gives Municipal Bond Strategy funds. The front page earnings reported by the commercial bank industry has enforced its “ stockholdersensitive” image. This increases the likelihood that the municipal bond account will continue to be lever aged with tax planning to optimize its con trib u tion to o p era tin g earnings. T o ach ieve th eir perform ance goals, managers will concentrate their purchase activity in proven m u nicipal securities and special situations offering maximum mar ket protection—“ protection” in the sense that any purchased item has better than a 50-50 chance of being sold before it matures. This outlook does n ot bode w e ll fo r issuers of municipal debt that are not keep ing their fiscal health in order. The state and local municipalities that will benefit from this more sophisticated environment will con tinue to be issuers in the Far-West and Southeast region s. S elected revenue bonds in the Middle-West will also be favored. Escrow-secured bonds have be come an integral feature of highperformance bank portfolios. I t is not uncommon to find as great a representation of escrows as highgrade general obligation bonds— and for good reason. Escrows have held their value and have traded, at times, on or through their general obligation “ A A A ” counterparts. E very bank in our survey indicated 4 A A A A * v H A x -A y % a •* y O T A L p o rtfo lio perform ance has evolved as the foremost ob jective of active bond account man agers. Their goal is being pursued through the growing use of sophisti cated strategy techniques and sup portive computer software, accord ing to Gerald S. Roberts, vice presi dent of John Nuveen & Co., Inc., Chicago, and manager of the firm’s P o r tfo lio M an agem en t S ystem s. Mr. Roberts detailed his “ Municipal Bond A ccou n t S tra te g y fo r the Eighties” in Nuveen’s recent P ort folio Strategy Letter. M ajor por tions of that special edition letter follow. W hat we foresaw in 1972 is occur rin g to d a y. The m unicipal bond account has become a principal con tributor to commercial bank profit ability. The high interest rate environ ments of 1969,1974, and 1979 forced managers to reassess the security features of municipal credits while second-guessing the merit of many traditional textbook exercises and static investment policies. Without the extraordinary devel opments in the credit markets that led to wide swings in the rate cycle, it is unlikely that positive manage ment policies would have reached the le v e l th ey have to d a y. The breadth in their application has been equally as impressive. During the 70s small banks added municipals to their portfolios at a T rate 3.6 times greater than did the top 100 banks. W hile a portion of the growth difference can be ex plained by varying tax liability, regio n al banks have becom e far more active managers o f their bond accounts w h ile exp an d in g th eir m unicipal bond ow nership. Th e underlying value of municipals was enhanced by record bank earnings as the decade came to a close. In 1968 commercial bank munici pal securities ownership was domi nated by the nation’s top 100 banks (in total assets). They held 44.6 % of the municipals owned by all com mercial banks. B y 1978, however, their participation had dropped to 31.6% with small banks exercising more buying and market influence. The “ new breed” of managers is learning to live with inflation and attendant tight money policies. As evidenced by bank earnings figures, spread m anagem ent and the in crease in the quality of the loan account are providing more flexibil ity for bond programs. Based on our survey of a crosssection of key regional banks, total program transaction volume in 1980 may exceed net new purchases by a ratio of 1.6 to 1. Up to 70 % o f the in dustry could be involved in this market stabilizing activity. Purchases th rou gh program s may be 80% as great as the toted volume o f net new purchases and as much as 125% o f projected run-off (Turn page please) Correspond with the bank that can give you a lot of help for your money. IOWA ’f m r ii I a < y https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ■ Member FDIC An Affiliate of Northwest Bancorporation George Milligan 1-800-362-2514 BANCO 2 C am S d y : BANKERS’ BANKER came the launching pad for munici pal bond account innovation. Active managers have learned that only the coupon is “ fixed.” A ll other ingredi ents of investment account owner ship-am ounts, rating, security, and maturity—are variables that will continue to be leveraged to their full earnings and market potential. Com eCrow Iowa News W fth U S A T L A N T IC : Northwest Bancorporation has acquired the Atlantic State Bank, according to Chester C. Lind, Banco president. The bank becom es the h old in g com pan y’ s 86th bank and joins 10 other Banco banks in Iowa. Atlantic State had deposits of $52.2 million last year. a buying interest in escrows. W ater and sewers are the most preferred of the revenue bond cate gory. Housing and pollution bonds are out of favor and may not gain dramatic bank portfolio manager acceptance in 1980. Power revenue bonds have regained market accept ance. T h e ir p robable increase in financing volume in the 80s should be met with excellent demand by commercial banks. Commercial bank portfolio man agers were active “ bar-bell” matur ity enthusiasts durin g 1978 and early 1979. I expect this to be re versed in 1980 with emphasis shift ing to the six-to-ten year maturity range from the o n e-to -fiv e and fifteen-year and longer areas. The trend could be so emphatic as to cause temporary distortions in the market value of selected maturities. W hile the municipal bond account has gained mobility as an active investment assets tool, so has the pressure by some banks to balance their sheltered income and liquidity between local industrial develop ment loans and governments. The increased activity in the industrial loan area has negatively impacted the market for marginal municipal securities. This dimension will fur ther reduce the market value of some smaller municipal debt issuers h avin g lim ited gen eral m arket appeal. https://fraser.stlouisfed.org The decade o f the seventies be Federal Reserve Bank of St. Louis C O N R AD : The First State Bank held an open house last month in honor of the retirement of H .D . “ Don” Martin as president. Mr. Martin has been associated with the bank as an officer and director for 35 years. Brian D. Mohr, who joined the bank in 1978, was named assist ant v ic e presid en t and secu rity officer. C R E S C O : T h e F ed era l R eserve Board has issued a prior certifica tion relating to the proposed divest iture of the farm land and farmrelated property of How-W in Devel opment Co. here. The company con trols the Cresco U nion S avin gs Bank. chief executive officer and is also a member o f the board. vP Nebraska News y, COZAD: Charles Hartman was pro moted to vice president of the First Bank & Trust Company here. Jeffrey Konen, loan officer, was elected to the board of directors. v A H Y A N N IS : Hyannis Banshares, Inc. has received consent from the Federal Reserve Bank of Kansas City to become a bank holding company b y acqu irin g the Bank o f Hyannis. > G R A N D IS L A N D : Three officers have been promoted at the First N a tional Bank o f Grand Island: Ron ald L. Adams, vice president and trust officer; Deryl E. Bayne, vice president, cashier and director o f personnel, and Bernice S. Glass, vice president, operations division. * £ ^ t v O M A H A : Hal F. Childs, 72, vice president of Chiles, Heider & Co. investment firm, died January 19 in an Omaha hospital after a long bout with cancer. Mr. Childs had been in the investment business for many years here and was widely known among bankers in both Nebraska and Iowa. . > y DES M O IN E S : Recent marriages within banking circles include Rich ard Berglund to Diane Gibbs (Iowa In d ep en d en t B ankers) and Jim Bullard of Hawkeye Bancorporation to Pat Smith of Iowa Bankers Asso ciation. E L G IN : The Elgin State Bank has increased its common capital from $130,000 to $260,000 by stock divid end. H A M P T O N : T h e F irs t N a tio n a l Bank o f Hampton has filed for per mission from the regional adminis trator o f national banks to exercise fiduciary powers. M U S C A T IN E : First National Bank here passed the $100 million asset mark at year-end by posting a total asset figure of $101,142,000, accord ing to George Shepley, president. V IN C E N T : John E. Dencklau has been elected v ic e p resid en t and cashier o f th e Farm ers S a vin gs Bank here. H e serves as the bank’s ASK JERRY TRUDO to make MNB work for you. * * K Toll free 1- 800- 332-5991 Merchants A ■ National Bank 151 Member F.D.I.C. A BANKS OF IOWA’ BANK Supplement to Northwestern Banker Newsletter 1-28-80 Carleton D. Beh Co. Investment Bankers/Financial Consultants NEW ISSUE MOODY’S: A1 $ 4 , 055,000 GREENFIELD, MILWAUKEE COUNTY, WISCONSIN General Obligation Corporate Purpose Bonds, Series 1980 Dated: February 1,1980 Denomination: $5,000 Both principal and semiannual interest (April 1 and October 1, first coupon due October 1,1980) payable at a bank to be designated. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL INCOME TAXES. MATURITIES 6.25% 6.45% $ 5,000 April 1,1981 6.25 $650,000 April 1,1988 8.00% 6.35% 50,000 April 1,1982 6.25 675,000 April 1,1989 50,000 April 1,1983 6.25 6.40% 75,000 April 1,1984 6.25 700,000 A p rili, 1990* 75,000 April 1,1985 6.25 6.45% 100,000 April 1,1986 6.30 750,000 April 1,1991* 100,000 April 1,1987 6.30 6.50% 825,000 April 1,1992* PRESENT FEDERAL 6.35 6.35 6.40 6.45 6.50 ‘ Optional in inverse order beginning April 1, 1989 at 100%. LEGALITY TO BE APPROVED BY FOLEY & LARDNER, ATTORNEYS, MILWAUKEE, WISCONSIN The City of Greenfield covers approximately 12 square miles in southwest Milwaukee County. The City was incorporated in 1957 and is considered one of the fastest growing communities in Wisconsin. Greenfield is predominantly a residential community with a strong commercial development. The City’s economic activities mostly center around commercial retail sales. Wealth and income indicators are above state averages. Some of the largest employers in the City are: Chocolate House (manufacture and wholesale distribution of chocolates and candies, 80 employees); Mount Carmel Nursing Home (privately owned nursing home, 431 employees); Northwestern Photo Company (photo finishers, 52 employees); Target Stores, Inc. (discount store and bakery, 230 employees); and WIENM Properties (K-Mart, discount department store, 200 employees). Bank deposits in Greenfield as of December 31, 1978, were in excess of $60,724,000. The proceeds of these bonds will be used for the following purposes: $1,515,000 for providing street improvement; $731,000 for constructing and improving water mains; $690,000 for construction and improvements of storm sewer drains; $669,000 for construction and improvement of sewers and $450,000 for construction of an engine house. In the opinion of counsel, these bonds are legal and binding general obligations of Greenfield, Wisconsin, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal of and interest on the bonds without limit as to rate or amount. FINANCIAL STATEMENT Equalized valuation, taxable property, 1979 Assessed valuation, taxable property, 1979 $680,028,850 123,016,118 Net direct debt, including this issue Net direct, overlapping and underlying debt Population, 1979 estimate: 30,871 17,474,770 29,909,701 Direct debt per capita: $566.06 Total debt per capita: 968.86 Under Wisconsin Statutes, a city always receives 100% of the taxes levied for it, as the County assumes all delinquencies. We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: 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 was based. Offered subject to prior sale and change in price. Des M oine s B u ilding • Des M oines, Iowa 50309 • 515-288-2152 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 607 M a rq u e tte Ave. • M in ne a p o lis, M in ne so ta 55402 • 612-332-8825 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplem ent to N orthw estern B an k er N ew sletter 1-28-80 Meet Gary Uvesay and get to know Centurion Li If you haven’t yet talked to Gary Livesay about Centurion Life, the credit insurance subsidiary of Dial Financial Corporation, you may not know enough about Centurion Life. F o r instance ... Centurion offers you: • A full line of credit insurance products • A fully computerized claim system • Complete excess program • Your choice of billing or direct remittance • Sales and product seminars In the credit insurance business since 1956, Centurion is licensed in 36 states and has nearly $1 billion of insurance in force. The A.M. Best Company rates Centurion A + (Excellent). Administrative offices are in Des Moines. For details, call Gary collect at 515/244-7050. Or write: Gary B. Livesay, Centurion Life Insurance Company, 207 Ninth Street, Des Moines, Iowa 50307. And if you’re attending Group Meetings in Sioux City or Burlington in February, look for Gary. He welcomes the opportunity to visit with you. Dial Financial Corporation Centurion Life Insurance Company https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IL I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis r* A1 1 f \ K i TUE «DCDCADII AM/*E TE A11” where com m on transactions are handled uncommonly well. liman FIRST NATICDNALLINCOL .N 13th & M Street • Lincoln, Nebraska 6 B501 • Member, F.D. I.C. Minnesota News B E M ID J I: E. Joseph W elle has been promoted to president of the First National Bank of Bemidji. He has been with the bank since 1956 and was most recently executive vice president. C H IC A G O : J. Joseph Herro has been promoted to executive vice presid en t o f C a p itol Bank o f Chicago. Formerly vice president, commercial lending, he will now be in charge of all line divisions and internal operations. L A K E F IE L D : Robert J. Louvar has joined the First National Bank in Lakefield as vice president and cashier in charge of operations. H e was formerly with the Ackley (Iowa) State Bank. C H IC A G O : The Federal Reserve Board has issued a prior certifica tion with respect to the proposed di vestiture by Safeway Insurance Co. here o f The National Republic Bank of Chicago. L E S T E R P R A IR IE : Prairie Bancshares, Inc. has received consent from the Federal Reserve Bank of Minneapolis to become a bank hold in g com pany b y acqu irin g the Farm ers S ta te Bank o f L e s te r Prairie. R IC H F IE L D : The F D IC has ap proved a request by the Summit State Bank o f Richfield for federal deposit insurance upon withdrawal from the Federal Reserve System. R O C H ESTER : DuWayne A . Forbord has been promoted to vice pres ident of commercial loans at the Northwestern National Bank of R o chester. H e was formerly an assist ant vice president. ST. P A U L : The Minnesota Bankers A s s o c ia tio n w ill hold its Senior Bank Management Conference at the St. Paul Hilton, February 5-6. D A R IE N : The Darien Bank has re ceived consent from the F D IC to establish a facility in the Jewel Tea grocery store here. IT A S C A : The Itasca Bank & Trust Co. has received consent from the F D IC to exercise full trust powers. L A K E FO R EST: John W . Glover has been elected president of the Lake Forest National Bank. He had served as the bank’s executive vice president since 1974. P O P L A R G R O V E : T h e P o p la r Grove State Bank has increased its capital account from $100,000 to $300,000 by declaring and 200% stock dividend. North Dakota News Illinois News A N D A L U S IA : R itaC . Jackson has been promoted to cashier of the A n dalusia Community Bank. She had been operations manager since the n ew ly-ch artered bank opened in October. B L U F F S : The F D IC has approved a request by the Bank o f Bluffs for federal deposit insurance upon with drawal from the Federal Reserve System. czHoCdzx and <z/f~±$.oaLat£i. Bank Consultants Specializing in Bank Acquisitions P.O. Box 450 515-232-0814 405 Main Ames, Iowa 50010 D o n a l d E. H o l d e r , https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Principal The North Dakota Bankers Asso ciation’s 19th annual Bank M anage ment Conference will be held Febru ary 5-6 at the Ramada Inn in Minot. Featured topics will include second ary markets, the energy outlook, the role of bank directors and man agement in protecting a bank and a half-day training session on N O W accounts. Also scheduled is an update on federal legislation, a report on the N D B A Long Range Planning Task F orce and ban qu et speaker A r t H o ls t, N a tio n a l F o o tb a ll L eagu e official No. 33. M IN O T : First Western State Bank in M inot has received consent from the F D IC to establish a detached facility at the intersection of 15th Street and 22nd Avenue SW here. Wyoming News The W yom ing Bankers Associ ation’s 26th annual Credit Confer ence will be held February 7-8 at the Ramada Inn in Casper. Highlights will include addresses by Dr. W . Heartsill Wilson, nationally known speaker; Rep. Richard Cheney, W y oming congressman, and Pete Hart, president of Western Bancorporation Data Processing Co. Also featured will be a panel dis cussion on current economic trends and social events are planned. C A S P E R : Recent promotions at the W yom ing National Bank of Casper include: James Watson, vice presi dent and tru st o ffic e r; W illia m Rader and Charles Stilwell, vice president; Kim McNinch, assistant vice president; David Palfrey, as sistant vice president and trust offi cer, and Richard Brehm, assistant vice president and operations offi cer. L A N D E R : William Starrs has been promoted from assistant vice presi dent to vice president at Central Bank and Trust here. Jane Nolde has been promoted from assistant cashier to assistant vice president. P O W E L L : George E. Cooke has re signed as president o f the American National Bank of Powell. He is suc ceeded by Harold Hand, most re c en tly the b an k ’ s e x e c u tiv e v ice president. Mr. Cooke, who will de vote more time to personal business interests, will remain with the bank in an advisory capacity and contin ues as a director. Montana News T h e M on tan a Bankers A s s o c i ation’s Agricultural Credit Confer ence is slated for February 7-9 at the Holiday Inn in Bozeman. Frank Stock is chairman o f the M B A agri cultural lending committee. Experts will present their out looks on money, land values and foreign investments, cattle, grain and clim ate. A ls o scheduled are sessions on F IR A , New Frontiers in Agricultural Research and Energy ’s Effect o f the Cost o f Production and Marketing. 4 P A R T IA L L IS T O F A V A I L A B L E A P P L IC A N T S W AN T ADS LENDER/OPERATIONS— Is in charge of operations, tellers and reports. Loan experience in installment, student and real estate. Good general background. $16,000. Rates 50 cents per word per insertion. Ad $2 for file numbers. Identity of file number advertisers cannot be revealed. Payment in advance, please. ' NORTHW ESTERN BANKER 306-15th S t., Des Moines, Iowa 50309 ASST. CASHIER— Handles correspondent accounts and money transfers. Responsible for general ledger and bond portfolio. Evaluates accuracy of file docu mentation. $14,000. LENDER— Installment experience includes interview ing applicants, approving or rejecting loans, closings and collections. Opens new accounts and completes month-end reports for top management. $14,000. P O S IT IO N A V A IL A B L E North Iowa bank looking for experienced (2-4 years) ag lender. Salary $16,000. W rite file JBD, c /o Northwestern Banker.______________________________ (PA) $18 million north central Iowa bank looking for an In dividual with 1 -5 years experience in bank operations or related area; loan background would be helpful. Future advancement excellent. Salary commensurate with experience. W rite file JBB, c /o Northwestern Banker.______________________________________ (PA) Lending Officer— North central Iowa with ag back ground and preferably experience in operations. Write file IBY, c /o Northwestern Banker._____________ (PA) CEO wanted for growing $4 million bank in a thriving northeast Iowa community near a metro city. Write file IBX, c /o Northwestern Banker._________________ (PA) CEO position available in $20 million southeast Iowa bank. Salary negotiable. Send resume to file JBA, c /o Northwestern Banker._________________________ (PA) Instructor Banking and Finance— Agriculture Immediate opening for career opportunity in develop ment and instruction of new associate degree pro gram in finance and credit banking with emphasis on agri-banking. W eare looking fo ra # 2 o r# 3 m a n with äg experience from an Iowa bank. Salary commensurate with education and experience. Position re-advertised; applications close January 31 or when position filled. Toapply send application and resume to: P.B. Greedy, Western Iowa Tech Community College, 4647 Stone Avenue, Sioux City, IA 51106. (PA) __________An Equal Opportunity Employer_________ CEO position available in two Iowa community banks in the $18 million range. Contact Malcolm Freeland, c l o Northwestern Banker._____________________ (PA) Operations Officer needed by $30 million Iowa bank. C o n ta c t M a lc o lm F re ela n d , c /o N o rth w e s tern Banker.__________________________________ (PA) Ag Loan Officer, with farm management background, needed for key position in major midwest bank. C ontact M a lc o lm F re e la n d , c /o N o rth w e s tern Banker.______________________________________ (PA) Auditor needed by $30 million Iowa bank. Should have several years experience. Contact Malcolm Freeland, c l o Northwestern Banker._____________________ (PA) BANKERS PARTICIPATING I LeasePtan.Inc. 5 4 5 - 31st Street Des Moines. Io w a 50312 R. L. “DICK” SELLON • P.D. “ DUANE” DEVAULT Installment Loan Officer, with 10 years management experience, seeks new opportunity. Currently em ployed. Contact Malcolm Freeland, c /o Northwestern Banker._____________________________________ (PW) Nebraska banker is seeking a more challenging posi tion. Extensive experience in lending, good record of business development, and knowledgeable in oper ations. Age 39 and married. W rite file IBZ, c /o Northwestern Banker.______________________________(PW) Cashier, with eight years operations experience in banks of $20-600 million, seeks management position in Iowa bank. W rite file JBC, c /o Northwestern Banker._____________________________________ (PW) AG LENDING OFFICER . . . Southeastern Minne sota ........................................................$15-$20,000. AG LENDING OFFICER . . . Northwest Illinois .................................................................. $17-$20,000 ASSISTANT C ASH IER . . . Central Io w a ............... .................................................................. $14-$16,000 ASSISTANT V P . . . P C A . . . Io w a . . . .$17-23,000 AG LOAN O F F IC E R . . . Northern Iowa ............... .................................................................... $15-$17,000 CREDITSUPERVISOR. . . Major Equipment Firm . . . two openings: 1 .IA 2 .M N & W I .................... $15-$20,000 Since 1968, employers have been paying usto find the people they need. For details, call Linda, our banking and credit specialist. S a ri CAREERS, INC m J AGRICULTURAL (515)394-3145 PERSONNEL RECRUITERS New Hampton, IA50659 f V P /L E N D IN G — Extends credit in all areas of lending. Responsible for banks conformity to state and federal banking loans. Experience in commercial, SBA, in stallment and real estate loans. $23,000. VP— Head of commercial, agri and real estate loan departments. Has supervisory experience. Grants loans and handles collections. Also works as compli ance officer. $25,000. Bank Division ROBERT HALF of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 ( 515) 244-4414 12 NCR 152-70 tel ler mach ines at $635 each. Cal I (512) 836-5865.____________________________________ (FS) Four Burroughs T-100 desktop check encoders. $595 each. Call (512)837-6783.______________________ (FS) Thinking About the Sun Belt? AG CREDIT CAREERS AG OFFICER— BS in ag business and has completed Ag Credit School. Seven plus years bank experience in operations and ag lending. $20,000. FOR FURTHER INFORMATION RESPOND IN CONFIDENCETO: 1977 Cadillac Seville, silver. All options except sun roof; new Michelins. Under 26,000 miles. Call (402) 488-2123.____________________________________ (FS) 12x40 Hillcrest mobile home remodeled for use as temporary bank. Fitted with drive-up window, lobby area, night drop, full alarm system, furnace and air conditioning. Currently in use at National Bank of Waterloo, la. Available a fte rl /1 /80. For further inform ationcall Mr. Wackerbarth, (319)291-5429. (FS) Now is the tim e to place your resume on file with the West’s oldest bank placement agency. W e have openings now for: Trust Officers Ag Loan Officers Commercial Loan Officers W ANTTOBUY Six Burroughs wide-carriage adders with 10 columns and credit balance. Call (512)836-5864.________ (WTB) Want used automatic coin dispenser. Please contact Burton C. Stumme, Pres., at Readlyn Savings Bank, Readlyn, la. 50668. Phone (319)279-3321. (WTB) Investor wants to purchase $20 million (approx.) de posit bank in live community. Long term investment. Need good management. No brokers. Write file FBX, c /o Northwestern Banker.___________________(WTB) BANKERS W ANTED TRAINEE— Positions available in Kansas, Iowa and Nebraska. Prefer degree and farm background...................................................9-12K LOAN OFFIC ER — Rural bank. Instalment loan and insurance experience required. . . 18-20K TRUST O FFICER— Iowa location. Head small department with good growth poten tia l.................................................................... 25K COMMERCIAL LOAN— Kansas, Missouri and Io w a banks; 5 -7 years lend ing w ith stro ng d o c u m e n ta tio n s k ills req u ir ed.................................................................. 30-35K Kingston Financial Placement & Consulting' CASHIER— 7M M rural bank within 10 miles of college community. W ill manage bank in owners absence....................................... 18-20K 3030 North Central Avenue, Suite 1017 Phoenix, Arizona 85012 (602)264-1484 TRUST HEAD— 15MM department in growing area, close to major midwestern city. Law degree not necessary............................... 25K ______________ AH Fees Employer Paid______________ EXEC. VICE PRES.— 40MM suburban bank in small holding company. Opportunity to assume #1 spot. Commercial loan ex perience a m ust..................................................30K For additional information contact in confidence: SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide JR. LOAN O FFICER— Prefer instalment or ag loan bac k g ro u n d . S o u th e rn K ansas community of 5,000.................................. 15-17K CAPITAL PERSONNEL SERVICE Forward resume and salary history to: 814 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 P.O. Box 12346 / 2024 Swift North Kansas City, Missouri 64116 __________________ (816)474-6874_________________ T O M H A G A N & A S S O C IA T E S Vol. 8 No. 40 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 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 JÊ Ik ALL FEES PAID BY MANAGEMENT FO RSALE t REAL ESTATE— Responsible for all servicing duties: delinquency calls, escrow analysis and payments, assumptions, payoffs, etc. Also generation of new m ortgage lo an s, c u s to m er c a llin g and re te n tio n . $17,500. CEO— Primary responsibilities have been commercial loans, operations and bank offices. Additional duties are advertising and business development. Experi ence includes new charters and the purchase of a bank. $30,000. Modular bank bldg.: 12’x40’ steel with brick, 14’x70’ and24’x40’ wood; 2,000 sq. ft. permanent bldgs. SON CORPORATION, Box 684, Wichita, Kansas 67201. (316)942-8167.___________________________________ V V A
@FedFRASER