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uvtlMeXs • Vol. 12 No. 41 Des Moines, Iowa F D IC Seeks Broker D eposits Lim it • • • • ® • ® p OR SOME months FDIC Chair man William Isaac has been pro posing various ways to make greater risk-taking by banks be reflected in their FDIC coverage. One proposal would increase the premium refund for about 85% of the banks, cut in half the refund for an additional number, and wipe out any refund for a few high-risk banks, through a risk assessment process based on bank examinations. A second proposal would curb deposit insurance on brokered deposits. On January 13 the FDIC and Federal Home Loan Bank Boards proposed that deposits placed in banks through money brokers be limited for insurance coverage to $100,000 per broker per bank. If adopted, the regulation would be ef fective October if The proposal most likely will be considered in one of the federal legislative packages taken up by Congress. Money broker firms, such as Mer rill Lynch, immediately denounced the proposed regulation, saying it would kill off the brokerage deposit route for funneling badly needed deposits into banks, and would deny insurance coverage to investors who would otherwise have the same in surance coverage if they placed the deposits directly. One voice raised in opposition to brokered deposits came from the State of Iowa when Assistant A t torney General Howard O. Hagen wrote the FDIC on November 19 stating, “ We wish to advise you of the State of Iowa’s opposition to the brokering of deposits.” In the letter he referred to litigation the Iowa de partment of banking has been pur suing for well over a year based on investment firms soliciting local deposits in Iowa, then transferring them out-of-state through an out-ofstate bank for placement in various other institutions outside of Iowa. The Iowa superintendent of banking challenged the procedure, stating it was violating Iowa law by conduc ting a banking business without a charter. Mr. Hagen in his letter said his objection is based on Iowa law and Eighth Circuit Court precedent saying such activity constitutes unlawful branching and interstate activity on the part of banks or s&ls. Other banks have sided with the money brokers in this matter. Readers who wish to express an opi nion on this proposal by FDIC and the FHLBB may send comments to the N o r t h w e s t e r n B a n k e r at 306 15th St., Des Moines, la. 50309. □ January 30,1984 Iowa News A t its meeting on January 21, the Iowa Bankers Association board of directors took a position on the pro posed subject of interstate banking. The board supported reciprocity with contiguous states, but with a distinct limitation. An Iowa institu tion to be acquired must be a multi bank holding company with 10 or more banks of $750 million deposits in the MBHC. In addition, the IB A board voted to support expansion of the current 8% limitation on total deposits a holding company can own, by in cluding deposits of Iowa savings and loans and savings banks. Under present Iowa law, a holding com pany could purchase a savings bank and not have to count those deposits in its total against the 8% limita tion. Thus, including these thrift in stitutions in the proposed bill means that 8% of the broadened base of de posits equates to 10.6% of the pre sent base of commercial bank depos its. An out-of-state owned holding company (only Norwest at this time) could not take advantage of this ex pansion until its home state (in this case, Minnesota) has voted recipro city with Iowa banks, or until July 1, 1988, whichever comes first. The IB A board vote was 11-1 in favor, with two not present. Those Don't gam ble when choosing a correspondent bonk. Com e to the professionals. t For any correspondent banking need . . . overline assistance, d ata processing services, investm ent counseling . . . just give us a coll. W e're the professionals w ho put the response in correspondent bonking. Cyrus D. Kirk, Vice President • OF DES M O IN E S , N .A . • M E M B E R FDIC • TOLL FREE N U M B E R (800) 362-1615 AFFILIATED W IT H U N ITED CENTRAL B A N C SH A R ES, INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Norwest Bank Des Moines , N.A. Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS Member FDIC T ea m w o rk: one o f the reasons w e1re firs t in iowa. Bernie Kersey two board members indicated they favored the majority vote. A t its most recent meeting the Iowa Independent Bankers Associa tion executive committee had voted to retain the present holding com pany limitations, which forbid ac quisition of Iowa banks by an out-ofstate bank or holding company. The I IB group further supported the pre sent 8% limitation on ownership of Iowa bank deposits by MBHCs. The I IB said it will study the recommen dation of the IB A board. fice Park. Neil H. Stadlman has been named assistant vice president and manager of the Ames office. He most recently was vice president and agricultural representative at Sac City State Bank. AN KEN Y: A t Hawkeye-Ankeny Bank & Trust, James W. Anderlik has been promoted to executive vice president and marketing/sales man ager; Robert D. Hemes was pro moted to senior vice president, and Laura L. Davis succeeds Mr. Ander lik as cashier. AMES: FBS Agricultural Credit DUBUQUE: John Koppes has been Corporation, the agricultural fi promoted to vice president of Key nance subsidiary of First Bank Sys City Bank. He joined the bank in tem, Inc., Minneapolis, has opened 1980 and has served as loan officer an office in Ames, located at 230 and office manager. -S.E. 16th St., Suite 2 in Camelot OfFREDERICKSBURG: Dale Mold ing has been promoted to vice presi dent of First State Bank. SPIRIT LAKE: C.W. Wetzeler and family have purchased controlling interest in the State Bank of Spirit Lake from E.W. Youell, Jr., and his wife. Mr. Wetzeler will continue as president of the bank, which has as sets of $16,900,000. Nebraska News ASK DOUG KEIPER to make MNB work for you. Toll free 1- 800- 332-5991 Merchants ^ National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NELIGH: The National Bank here has promoted Ralph C. Schrader to senior vice president, and William R. Bates and Kirk K. Cisler to vice president. OM AHA: James R. Campbell, chair man of Norwest Bank Omaha and president of region V of Norwest Corporation, has announced changes in the duties and responsibilities of three top executives at Norwest Bank. John R. Cochran, president since 1982, will assume the addi tional post of chief executive officer. G.W. “ Sam” O’Keefe, in addition to his position as executive vice presi dent and chief credit officer at the bank, will serve as chief credit of ficer for region V. Jon A. Lindhjem, chief financial officer, was elected executive vice president. TILDEN: A t The Tilden Bank, Francis W. Giehler has been pro moted to senior vice president; Brad Lee Wagner to vice president; Peggy Remmereid to vice president and compliance officer, and Susan Galyen to assistant cashier. Minnesota News AD A: Kenneth H. Recker has joined The Ada National Bank as presi dent, chief operating officer and a member of the board. He previously was executive vice president of The First Mitchell National Bank in Mit chell, S.D. LUVURNE: Greg Burger has been named vice president of Norwest Bank here. He previously served as vice president and assistant man ager of the Exchange Bank o f Gib bon since 1980. Wisconsin News The 80th Annual Meeting o f the W isconsin Bankers A ssociation Group 1 will be held February 17-18 at the L ’hotel Sofitel in Minneapolis. Kenneth A. Heiser, group 1 presi dent, and president of First National Bank, Hudson will preside at the business meeting. Glen D. Johnson, Recipe for success.. X Supplement to Northwestern Banker Newsletter 1-30-84 W e W ro te The Book O n Bank Brokerage Services! m V 0 O you want control overlyfee=d13count brokerage o p e ra tio n M ^ ^ g y ^ ^ your own commis sion pricingis^^isions, determine your fee income and handle your own customers? Now there is a brokerage package that provides you with flexibility to do just that. ■ NDEPENDENT Community Bank Network, Inc. has developed its brokerage program with the cornunity bank in mind. We have put together the perfect ix of substantial fee income and bank to customer contAtt to make our package the most attractive alternative to la|ge discount brokerage houses. You choose the com mission schedule best suited for your market while adiministering the correspondence on your stationary using novative micro-computer package. PEN the book to ICBN's brokerage service. Call ICBN or send in the coupon below. O sEC« « » e P | ^ e t 'N0BK In d e p e n d e n t C o m m u n ity Bank N e tw o rk , In c. I want to find out how easy it is to enroll in ICBN’s Brokerage Service. Please send me information on how I can begin generating fee income using brokerage services in my bank. Nam e Title Institution Address C ity ______ State Zip M ail to: IN D E P E N D E N T C O M M U N IT Y BANK N ETW O R K , IN C . Corporate Offices: P .O . Box 1126 N o rfo lk, Nebraska 68701 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Phone: 800-228-3014 In Nebraska 800-672-3444 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 CALL ON THE “PERFORM ANCE TEAM ” where comm on transactions are handled uncommonly well. FIRST N A TIO N A L LI NCOLN 13th & M Street • Lincoln, Nebraska 68501 « Member, F.D.I.C. group vice president, and president, First Bank of Grantsburg, will as sume the presidency at the Saturday morning session. JOHNSON CREEK: Steve Meloy has been named president o f Mans fields State Bank. He joined in 1971 and most recently served as execu tive vice president. He succeeds Wil liam Owens, who was elected chair man. M A N IT O W O C : F irst N ational Bank here has elected Thomas J. Bare president, according to Nicho las B. Jagemann, chairman. Mr. Bare has been serving as acting president since September, 1983, when Richard H. Wirth resigned. South Dakota News RAPID CITY: Ronald E. Brue has been elected president of First Bank of South Dakota, N.A., here, and western division head. He joined the Rapid City bank in 1981 as vice president and second officer and was elected a senior vice president in 1983. Governor Allen I. Olson. Afternoon covery,” and the afternoon will con speakers include Gilbert Hamblet, clude with Professor Dwight M. TRW Information Services, Orange, Baumann, Carnegie-Mellon Univer Calif.; Gail Martell, E.F. Hutton & sity, Pittsburgh. Following a continental breakfast Co. Inc., Milwaukee, Wis., and Com missioner of Banking & Financial at 8:15 a.m. on the 17th, presenta tions will be given by Maxine McIn Institutions Marilyn Foss. On the 16th, the day will begin at tyre, Fair Oakes, Calif, and Oliver 9:00 with call to order by R.E. Niehouse, president, Oliver NieCaudel, senior vice president, Bank house Assoc., Forest Hills, N.Y. of North Dakota, followed by the Meeting will adjourn at noon. news of the day by A1 Gustin, KFYR radio & TV.. Dr. William DanWyoming News do, geography department, Univer MILLS: Harley G. Davis has been sity of N.D., will speak on “ The elected president and director of the Weather-Past, Present and Future.” State Bank of Mills. He succeeds The morning will conclude with Robert L. Wonio, who retired. Mr. Thomas Olson, president, Lisco Davis joins the bank with 29 years State Bank, and chairman of the of banking experience from various IB A A A g Committee. Illinois banks. Following a 12:15 lunch, the meet ing will resume at 1:15 with “ Bank JACKSON: Craig J. Miller has been ers Letter of the Law” by Professor promoted to assistant vice president Robert Volk, Boston University. and commercial loan department E.A. Marks, Metter, Marks & A sso head of First Wyoming Bank, N.A. ciate, Chicago, will follow with Jackson Hole. He joined the bank in “ Workouts, Turnarounds and Re 1981. U.S. CHECK BOOK COMPANY YANKTON: Keith H. Warrelman has been advanced to executive vice president of Valley State Bank. He joined the bank last June after hav ing served since 1981 as executive vice president and cashier at Emer son State Bank in Emerson, la. WELCOMES YOU TO Iowa Bankers Group 1 Annual Meeting February 10-11, Sioux City North Dakota News Visit us in our hospitality room at Bank o f North Dakota “ MidWinter Break” is scheduled for Feb ruary 15-17 at the Kirkwood Motor Inn, Bismarck. Registration will begin at 9:30 a.m. on the 15th. A welcome at 11:20 will be followed by lunch and enter tainment. A t 1:20 p.m. the con ference will open with remarks by The Mates Quarters— Marina Inn United States Check Book Company 1201 SOUTH 16TH STREET - OMAHA, NEBRASKA 68108 In Nebraska Call 402-345-3162 Out of State Call WATS Line 1-800-228-9246 RISMILLER, WEAVER AND YAKE Getting it done for you* —^ David Rismilier Chairman ^ Warren Weaver Ernie Yake President Senior Vice President CommerceBankofKansascity' f https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M m cm qcd MEMBER cnir FDIC Tolonhnno i«' (816) Telephone 234-2000 WANT ADS—Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER, 306 15th Street Des Moines, Iowa 50309. Phone 515/244-8163 SERVING PROFESSIONALLY 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. POSITIONS AVAILABLE Executive w ith proven a dm inistration and lending background needed by major Iowa bank.Salary to $60,000 Commercial Lender for major Iowa bank, requires 10 or more years of experience...............................Salary $43,000 Commercial Lender for suburban Twin Cities bank.............. ................ .......................................................... Salary $30,000 Banking, Financial & Business Personnel Iowa and Nationwide Installment Person for Central Iowa Community bank.......... ...........................................................................Salary $22,000 CAPITAL PERSONNEL SERVICE Commercial Real Estate person for Twin Cities area............ ........................................................................... Salary $35,000 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 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 P O S IT IO N A V A I L A B L E PRESIDENT for $13 million 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) AG LENDER—College grad w ith either 5-7 years ex perience in ag lending or 8-10 years in agriculture for strong ag bank. Salary open. Send resume to: Farmers State Bank, Box C, Jesup, IA 50648. (PA) REAL ESTATE LOAN OFFICER—With Eastern Iowa bank of $140 m illion. Minimum of three years experience. Quali fied to handle FHA/VA loans and process loans for secon dary market. Write file WAB, c/o Northwestern Banker.(PA) COMMERCIAL LOAN OFFICER—Suburban bank of $40 million has immediate opening for loan officer w ith 3-5 years experience in lending, emphasis in commercial area. Salary commensurate w ith experience. Send resume and salary requirements to file WAC, c/o Northwestern Banker. (PA) Midwestern bank with $120 m illion TRUST DEPARTMENT seeks person w ith at least five years experience in various trust activities capable of heading department. Law de gree desired. Excellent fringe benefits w ith salary to be determined. Largest bank in progressive university com munity. Please submit resume including salary require ments in confidence to: file WAD, c/o Northwestern Banker. (PA) NUMBER TWO PERSON— North Central Iowa bank. Mini mum 2 years ag lending w ith knowledge of other lending and bank operation. Salary open. Write file WAE, c/o North western Banker. (PA) Sr. Lender for Southern Minnesota multi-bank holding com pany bank must be experienced in commercial, ag, and retail lending.................................................Salary to $36,000 Linda: 515/394-5827 Jean 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 I Massena, Iowa 50853 aqncareers, in c . ™ THE ORIGINAL AGRICULTURAL RECRUITER 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 Ag Lender for N.W. Iowa bank. Salary range is open, depen ding on experience. Nice small community and working con ditions. Commercial Lender for major bank in Eastern North Dakota. Requires degree and minimum of two years experience........ .......................................................................Salary to $30,000 FOR SA L E BURROUGHS MODEL 8809 CHECK DISBURSER. Recondi tioned and 30 day parts and labor warranty. $695.000. Call Scott at 800-531-5036 (in Texas 800-252-3402). (FS) INVENTORY CLEARANCE!! 2 Burrough S-558 Single Pocket Proof. New, in original carton. $2,500.00 each. Call Teresa at (512) 250-0794. (FS) Commercial Lender for multi-bank holding company bank in Iowa. Requires 5 years experience. Leads to Dept. Head. . . . ...........................................................................Salary $35,000 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. DIEBOLD DRIVE-UP WINDOW—Works good. Is about 20 years old. LeFebure Walk-up Window, 5 years old. Contact Jerry L. Wiedebush, Security State Bank, P.O. Box 158, Plentywood, MT 59254. Phone 406/765-2265. (FS) 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 CORRESPONDENT BANKING OFFICER Leading Des Moines bank seeking mid to upper level Correspondent Banking Officer 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. An Equal Opportunity Employer Estate Appraisals Purchase of Collections Marketing Bank Services Since 1974 MATT SCOTT Serving Banks in Iowa and Minnesota INDEPENDENT SERVICE COMPANY P.O. Box 171 • Albert Lea, MN 56007 507/373-8216 FOR LEASE MOBILE BANK UNIT— 12’x62’ complete banking equip ment. Includes drive-up window, night depository, tw o te l ler stations, private office o ff lobby. AVAILABLE NOW. Contact Drommer Leasing, 401 Queens Court, Sioux City, IA 51104. Phone 712/239-2315. (FL) POSITIONS AVAILABLE SECOND OFFICER - $40MM suburban bank affiliated with holding company. Requires solid commercial loan back ground with emphasis on technical skills. $36K AG/INSTL. LOAN - handle general lending duties for $45MM rural bank. Position does require some agri-loan experience. $20K Sale o f Rare Coins INSTAL. LOAN - manage $6MM instal. loan dept, for subur ban bank and assume some commercial loan duties. $25K Reliable and respected service for over 20 years COMMERCIAL LOAN • large community bank seeks addi tion to staff. Prefer formal credit analysis training and 2-3 yrs. lending experience. $28K Used by bankers throughout the midwest AGRI-LOAN ■ manage ag portfolio and some commercial credits for $30MM rural bank. Close to large metro area. $30K Ben E . Marlenee Coins REAL ESTATE LOAN ■ d istrict manager for medium size S&L. Thorough knowledge of all real estate loan areas and previous administrative experience desired. $40K 913 Locust Des M oines, Iowa 50309 515-243-8064 To discuss these or other opportunities, contact: TOM HAGAN & ASSOCIATES P.O. Box 12346 - 2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 No. 41 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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