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U V b L & balance Sheet Flexibility Needed GRICULTURAL and commu nity banks must maintain flex ibility in manag ing their balance sheets in the face o f today’s vola t ile in te r e s t rates, Donald C. M ille r , v ic e chairman of Con tinental Bank of Chicago, said at 0 symposium in ^Kansas C it y D.C. MILLER sponsored by the Federal Reserve Bank of Kansas City. Mr. Miller said coordinated control of assets and liabilities that permits man agement of the entire balance sheet as a unit through the use of interest rate sensitivity is the latest innova tion in funds management. "The purpose o f balance-sheet management is to structure both sides of the statement of condition in a manner that will meet income goals without taking unacceptable exposure to interest-rate risk,” he explained. "This suggests that the ¿really progressive policy for the smaller agricultural bank is to de velop its own system for managing the cost of funds and establishing its own base rate on which to float loans instead of relying solely on the prime rate.” I Mr. Miller said commercial loans at agricultural and com m unity banks always have been the most rate sensitive because o f their short-term nature, and that they are becoming even more sensitive through the use of floating rates. "Where the agricultural banker has a good network of willing cor respondents, he can sell o ff or purchase participations or down streams in order to minimize a given rate exposure. As his larger money center counterparts also look to manage their rate sensitiv ity, the community banker too will be seeking a market in which to buy or sell loans. Often he will find that his needs and the money center b a n k ’ s needs com p lem en t one another,” Mr. Miller said. The Chicago banker said banks will continue for some time to be operating in an economic environ ment that will cause large fluctua tions in interest rates, and flexibil ity will be more important to the banker than ever. "An axiom worth keeping in mind is that banks of all sizes can profit by specializing in services that will accommodate their basic market ing areas. By doing this and by re maining flexible and adaptable, bank managers can refute some of the gloomy predictions about the outlook for commercial banking in the years to com e,”_____________ l * Iowa News AUBURN: H. C. Bruns, president of the Auburn Savings Bank, died recently after a short illness. He had been a banker for more than 61 years. DES MOINES: Herman C. Kilpper, president o f Bankers Trust Co., announced the appointm ent o f Robert M. Walker as vice president and controller. Mr. Walker joins B a n k ers T ru st from th e C ity National Bank of Detroit, where he was vice president and assistant controller. A graduate of Michigan State U niversity with a BA in accounting, he began his business career with Touche Ross and Co., and is a CPA. Mr. Kilpper also announced the appointment of John J. Fasanella as assistant vice presi dent and manager, corporate trust services department. Mr. Fasanella joins Bankers Trust from the Inter nal Revenue Service, with seven years experience. Russ C urtis, assistant vice president and trust officer, will now head the new per sonal trust services department. Mr. Curtis formerly headed the trust administration department of Bankers Trust. DES MOINES: Duane D. Jensen has been elected vice president and cashier of Brenton National Bank of South Des Moines. He joined the bank in 1979 as assistant vice presi- ASK JERRY TRUDO to m ake M N B w ork for you. Toll free: 1-800-332-5991 Merchants National Bank M e m b e r F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ' January 5,1981 Des Moines, Iowa Vol. 9 No. 37 A M is i A ‘ BANKS OF IO W A’ BANK Our computer Estate Appraisals capabilities give you a lot of help for your m oney. , 1' O K Purchase off Collections Sale off Rare Coins w Reliable and respected service for over 20 years g p p o r f u n i f y % n o c k s ..." % ’ '% ¿ 1 ’ , f f Used by bankers throughout the midwest Ben E. Marlenee Coins IOWA . nesjvtoines Æ Member FDIG A NATIONAL BANK A n A ffilia te o f N o rth w e s t ß a n c o r p o r ä tio n Banco« dent, transferring from the Warren County Brenton Bank in Indianola. DES MOINES: Pat Thompson has been appointed customer service officer/office manager of Brenton National Bank’s Valley West office located in the Valley West Mall on 35th Street in West Des Moines. Mrs. Thompson served in the Iowa House the past four years as a representative from District 66 in West Des Moines. She has a long history of civic and social work in the community. Mrs. Thompson has been employed with another area bank in recent years. F O R T M A D IS O N : A. A n th e s Smith, president of Fort Madison Bank & Trust Co., and Holmes Fos ter, president of Banks of Iowa, Inc., Des Moines, announced an agree ment in principle has been reached whereby Banks of Iowa, Inc., will make a tender offer to acquire for cash all of the outstanding common stock of Fort Madison Bank & Trust Co. The tra n sa ctio n has been approved by the boards of both orga nizations. The proposed transaction 913 Locust Des Moines, Iowa 50309 515-243-8064 is subject to approval by the Board of Governors of the Federal Reserve System and other regulatory au t h o r itie s . M r. F o ste r sa id no changes in personnel or board of directors of Fort Madison Bank & Trust Co. are contemplated. H A W K E Y E : The board o f the Citizens Savings Bank promoted Leon Dietzenbach to vice president and cashier and Evelyn Richards to assistant vice president. HAYESVILLE: C. J. Mertz, presi dent o f the H ayesville Savings Bank, has announced that Tim Hlavacek has joined the bank as vice president and loan officer. LONE TREE: The F arm ers & M erch a n ts S a v in g s B ank has annnounced the following promo tions: Ray I. Marner, Jr. to execu tive vice president, and Berneda G. Schnoebelen to assistant vice presi dent. SIOUX CITY: Central National Bancshares Inc. has agreed to ac quire more than 90% of the stock of V a lley S tate-B an k , w hich has approximately $15 million assets. If approved by the authorities, this would make the 12th bank owned K | f; )y the Des Moines-based bank holding company. Major stock sellers are A1 Maser, chairman of Valley State, and James J. Sheehan, presi dent, Farmers Savings Bank, Pier son. Mr. Maser also is president of First National Bank in Le Mars and Lakes National Bank in Arnolds Park. Valley State Bank is the only Sioux City bank with an office in the new Sioux City Shopping Mall. Nebraska News HERSHEY: Kelly J. Sittner was elected vice president of the Hershey State Bank. Mr. Sittner is a 1977 graduate of the University of Wyoming at Laramie. He was pre viously employed as a loan officer for the Rawlins National Bank, Rawlins, Wyoming. RALSTON: The following promo tions have been announced at the Ralston Bank: Joann D. Hagerty, assistant vice president; Mark E. Frederick, assistant vice president; Shirley J. Townsend, assistant cashier, and Geraldine J. Kidder, operations officer/auditor. Also, K enneth N adrchal and Rodney D o n 't g a m b le w h e n ch o o sin g o c o rre sp o n d e n t b o n k . C o m e to th e professionals. “C ” Central National Bank & Tru st C o m p a n y https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DES MOINES • MEMBER FDIC TOLL FREE NUMBER (800) 362-1615 C A L L O N T H E “P E R F O R M A N C E T E A M ” where com m on transactions are handled uncomm only well. m m FIRST N A T IO N A L LIN C O LN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. Thinking about selling your bank? Consult with Homer Jensen UPDATE YOUR ALARMS Special on 35mm auto cameras. Check w ith us firs t BEFORE making a purchase. or Dick Buenneke Over 50 years’ banking experience No fee to seller 241 Insurance Exchange Bldg. Des Moines, Iowa 50309 Phone:515-243-7434 Moran have joined the staff as loan officers. SECURITY SYSTEMS, INC. 3920 Delaware Des Moines, IA 50316 [515]265-1161 been promoted to assistant vice president. She began working at Center Bank in 1972. North Dakota News OMAHA: Harold M. Walton, presi den t o f C en ter B ank, has an nounced the promotion of three officers: Thomas J. Jaksich, Anne R. Jensen and James K. Sterling. Mr. Jaksich was promoted from assistant vice president to vice pres ident. He has been at the Center Bank since 1972 and holds a bache lors degree from the University of Nebraska at Omaha. Mr. Sterling has been promoted from assistant to vice president. He is the manager of the instalment loan department and has worked at the Center Bank for over 10 years. He attended the University of Nebraska at Omaha. Ms. Jensen, personnel officer, has VALLEY CITY: Bill Harbeke has accepted a position with the First National Bank as assistant vice president and head of the agricul ture departm ent. He has been associated with First Bank Langdon since 1977. C a lla BANKERS’ BANKER Illinois News 1-800-362-1688, toll-free in Iow a GRAND FORKS: Richard O. Wold of the First N ational Bank has announced the follow ing promo tions: Dale Arel has been promoted to vice president. He has been with the bank since 1962. Mrs. Victoria Phillips has been promoted to assis tant vice president. She joined the bank in December o f 1977. Ms. Jenny Dick has been promoted to assistant cashier. CHICAGO: Fred E. Aldrich has been promoted to senior vice presi dent at the M ount G reenw ood Bank. Minnesota News MINNEAPOLIS: W illis F. Rich, Jr., has been elected a director of Northwestern National Bank of Minneapolis. He remains an execu tive vice president and a member of the bank’s management policy com mittee. I I I I I I □ I would like to sell my majority bank stock. P I would like to buy ma jority bank stock. P lease C o n ta c t: J. M a so n H e n ry Charles E. Walters Co., Inc. P.O . B o x 1313, O m ah a, N e b ra s k a 68101 P h one: (402)553-6400 GET THE COMPETITIVE EDGE over savings and loan, credit unions, etc. This “ on-premise” system gives you complete inde pendence, competitive flex ibility and control. Get tighter instantaneous reporting in every phase of yo u r op e ra tio n . A t the sam e tim e reduce you r operating costs. A program for your every need — and more- The best banking system in the industry. rTpr» Modern Banking Systems, Inc. 6818 Grover St., Omaha, Nebraska 68106 (402) 392-0151 Errors & Om issions Coverage https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1. Directors & Officers Liability 2. Trust Errors & Omissions 3. Data Processing Errors & Omissions 4. Mortgage Errors & Omissions 5. “All Risk” Liability Policy fiUTDmflTED SVSTESTIS □F i Q W f l jr i C . 301 N. Ankeny Blvd., Suite 220 Ankeny, la 50021 515-964-1358 | our Bond Department For up-to-the-minute, accurate information Tom Steffens Vice President 234-2462 John Henderson Vice President 234-2463 Tony Paugoulatos Jim McLaughlin Rusty Reese Asst.Vice President Asst.Vice President Bond O fficer 234-2647 234-2673 234-2674 C ommerce Bank of Kansascity Member FDIC W ANT ADS Rates 50 cents per word per insertion. Ad $2 for file numbers. Identity of file number advertisers cannot be revealed. Payment in advance, please. NORTHWESTERN BANKER 306-15th St., Des Moines, Iowa 50309 POSITION AVAILABLE LOAN OFFICER — Northwestern Illinois $40 million commun ity bank needs an officer with a minimum of 5 years general banking experience. Excellent opportunity in a good rural com munity. Call Andy Rogers, First National Bank of Galena (815)777-0344__________________________________ (PA) EXPERIENCED installment loan officer to head active depart ment, $50 million bank. Good location and potential. Write file LBU, d o Northwestern Banker (PA) INSURANCE AGENT with property and casualty licenses to manage bank agency in Northcentral Nebraska. Some loan experience helpful. Send resume to file LBV, c o Northwestern Banker (PA) POSITIONS AVAILABLE REAL ESTATE LENDING — Opportunity to develop a real estate dept, in a 30MM bank. Individual will participate in management functions and be able to acquire additional bank ing skills .......................................................................... $18,000 SENIOR OFFICER — Growing 40MM bank in rocky mountain area desires seasoned credit officer for number two position. Excellent benefits .......................................................... $28,000 COMMERCIAL LENDER — 250MM metro area bank seeks addition to staff. Prefer 3-5 years lending experience in similar size institution. Good opportunity for advancement $30,000 CORRESPONDENT OFFICER — Medium size Missouri bank offers excellent opportunity for a junior correspondent banker. Must be willing to travel 50% of time. Degree preferred $22.000 INSTALMENT LOAN — Head department for growing aggres sive 45MM bank. Must be civic minded and possess adminis trative experience .......................................................... $25.000 OPERATIONS OFFICER — 30MM bank close to resort area. Position will lead to second officer. Lending experience a plus .................................................................................. $28.000 TRUST HEAD — Due to promotion metro area bank with growing trust dept, seeks a proven administrator with good marketing skills. Law degree preferred ......................$35,000 SENIOR OPERATIONS — Handle cashier comptroller posi tion for 36MM bank. Acctg degree desired. Management opportunity ...................................................................... $26.000 To inquire about a position please submit resume and salary history. TOM HAGAN & ASSOCIATES OF KANSAS CITY P.O. Box 12346 2024 Swift North Kansas City, Missouri 64116 (816) 474 - 6874 ■ [ CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 (816) 234-2000 7 WANT TO BCIY My majority bank stock is for sale. • f : I want to purchase majority stock in a bank. Please contact Ellis Jones, Broker I I I | JONES REALTY 205 South Eaton St. Lakewood, Colorado 80226 Phone:(303)232-1189 CASHIER — 3-5 years experience in Unit Bank operations with understanding of all government reporting requirements a must for this position in a new Wyoming bank. Some consumer loan experience would be a plus for the qualified applicant. Salary commensurate with experience plus an excellent ben efit package. Inquire in confidence to R. W. “ Dick" Anthony, P.O. Box 1070, Saratoga. Wyoming 82331 (307) 326-8321. An Equal Opportunity Employer (PA) GENERAL SERVICES SCOTTSDALE-PHOENIX Interested in buying, selling, leasing, investing in homes, condominiums, or land. For personalized service call or write Peter Linsey, Coldwell Banker Residential Brokerage Company, 4443 North Scottsdale Road, Scottsdale, Arizona 85251. Phone office (602) 945-7611 or Home (602) 991-6109. (FS) FOR SALE MONROE LEDGER CARD COMPUTER MODEL 60 with DDA, Loan, Savings, General Ledger programs. Cost new1977, $10,000. Sell $4,000.00. Bank of Dixon County, Ponca, NE 68770. 402/755-2224. (FS) Large used safety deposit boxes wanted. Jefferson State Bank, 5301 W. Lawrence Avenue, Chicago, IL 60630. Phone M.A. Shotwell, 312/777-4433. (WTB) PARTIAL LIST OF AVAILABLE POSITIONS LENDING— Rural Iowa bank seeking individual with heavy experience in Agricultural loans. Needs someone that does not need training. $26,000. ASST VP— 5 years experience in commercial lending with large bank. Keen business judgment is the key. $28,000. LENDER— At least 2 years of experience in handling installment loans, student loans, mastercharge, direct & indirect loans. $17,000. TRUST OFFICER— Some experience in trust dept, or legal firm. Will eventually take on full responsibility of the tru s t d e p t. E x c elle n t o p p o rtu n itie s for advancement. $20,000 VICE-PRES— Iowa bank seeking #2 person with heavy experience in operations and lending. Position open due to promotion. $35,000. LENDING— Rural bank seeks individual with 2 years of ag lending experience. ALL FEES COMPANY PAID. FOR FURTHER INFORMATION RESPOND IN CONFIDENCETO: 5 NCR 775 Single pocket proof machines. Excellent condition guaranteed back under NCR maintenance.$4,500.00 each. Call (512) 250-0794. (FS) Bank Division ROBERT HALF 3 Burroughs T-8889 check protectors with signer, dater and accumulator. Reconditioned by Burroughs. Cost $1,895.00 each new. Will sell for $965.00 each. Call DeLaine Data Cor poration at 512) 653-1454. (FS) of iowa, Inc 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 MODULAR BANK UNIT: 12 X 7 ' equipped with drive-up win dow. Used as bank's drive-up facility. Available immediately. Contact Northwestern State Bank of Dodge Center. MN 55927. Phone 507/374-6311. (FS) ALL FEES COMPANY PAID BANK PERSONNEL IS OUR ONLY BUSINESS Positions Available 30K #482 Commercial Réal Estate #484 Commercial Loan Manager 32 K #486 Commercial Loan # 2 28K #475 Commercial Loan Trainee 22K 25K #485 Commercial Loan # 2 24K #483 Commercial Loan 18K + #479 Insurance Agent #481 Insurance Manager 18K + #487 Installment 20 K 18K #477 Program Analyst 26 K #478 Data Processing Manager 22K #476 Branch Manager Ag Banking Specialists S^ E When it comet to agriculture, banking and personnel. . . go to the specialists — go to AGRIcareert, Inc. Progrottivo banker* pay at to find tbe people they mod. ’ TOM HAGAN & ASSOCIATES OF MINNESOTA 4901 W. 77th St. Edina, Minnesota 55435 612-835-4121 David Dahl Megan Maloney All positions employer paid AG UNDING OFFICER « Iowa.............$15 $20,000 LOAN OFFICER. : .Minnesota.................... 51 » 520,000 TWO FARM MANAGERS.. .IA A It . . . . $16-524,000 TWO AG LENDING OFFICERS . .IA A It . . $22 $2t,000 SERVING PROFESSIONALLY Banking,Financial & Business Personnel Iowa and Nationwide 10th and Walnut Dave Wittenborn Bond Representative 234-2691 BANKERS PARTICIPATING LeasePlan.Inc. 545 - 31st Street Des Moines. Io w a 50312 Aik our banking tpociaiitt, Linda Niot, what's available without coit or obligation. (515)394-3145 > NEW HAMPTON, IA 50659 IdOn G4REERS, INC I J THE ORIGINAL AGRICULTURAL RECRUITER R. L. “ DICK” SELLON Voi. 9 No. 37 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
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