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Vol. 12 No. 38

Des Moines, Iowa

A D eposit Insurance Perspective
N RECENT months FDIC Chair­
man Bill Isaac has made serious
recommendations for revisions in
federal deposit insurance that he
feels will more properly reflect the
soundness and safety o f each bank,
forcing more poorly managed banks
to pay more for their FDIC protec­
The subject o f deposit guaranty
insurance dates back to 1907, accor­
ding to an extensive feature article
in the January, 1927, N o r t h w e s t ­
e r n B a n k e r . In that year, follow ing
a panic, Oklahoma enacted a state
deposit guaranty law. It was re­
pealed on March 31, 1923, with $10
million still owing. In succession,
Kansas passed such a law in 1908,
Nebraska in 1909 (with W illiam Jen­
nings Bryan as a principal sup­
porter), Texas in 1910, South
Dakota and M ississippi in 1915,
then North Dakota. A ll finally re­
pealed their laws and were in debt in
millions, due to bank failures.
Nebraska bankers described their
law as “ dishonest, unsound, unfair,
uneconomical, unjust and without
m erit," according to the article. The
state in 1927 had 893 banks with
$284 million in deposits. Since the
law went into effect in 1911, there
were 154 bank failures, m ost o f them
after 1920. The Nebraska Guaranty
Fund liquidated and paid losses o f


117 banks and was operating 37 o f
them in 1927. Nebraska bankers had
paid in $14 million in assessments
and $14 million was realized from li­
quidations o f failed banks.
Nebraska bankers, the 1927 arti­
cle stated, listed these as their main
reasons for being against the law: 1.
G ood bankers punished by the acts
o f poor ones. 2. Prom otes poor bank­
ing. 3. Econom ic unsoundness. 4.
Continual assessments. 5. Places
same rate o f insurance on good
banker as poor one. 6. D epositors de­
pend on the law rather than on the
character o f the men operating the
bank. 7. The law created a boom in
banking that caused more banks
than were necessary to be organizd
and they were often run by incom pe­
tent men. 8. It is an intent to create
integrity by legislative act.
“ The main reasons for the law are:
1. It stabilizes business. 2. Prevents
runs. 3. Pays depositors in full. 4.
Holds public confidence. 5. Bankers
can spend their time looking after in­
vestm ents rather than convincing
depositors the bank is safe."
Am ong the changes suggested by
bankers at that time were making
depositors pay for part o f the in­
surance, and lim iting to 85% the
coverage o f an individual's deposits.
The article also noted there should
be stricter examinations o f state
banks, since there were only 10% as
many national bank failures as

January 9,1984
among state banks in Nebraska.
The article said “ state taxation to
pay losses is taking the government
too far into private business...Pass­
ing the burden on to depositors also
is not righ t." The article concluded,
“ W hat is really needed is better
banking laws and better bankers."
In the March, 1927 issue, then
Publisher Clifford DePuy wrote that
Iowa and other area states were con­
sidering again deposit guaranty in­
surance laws. It was then recorded
in the M ay issue o f that year that
such bills were defeated in every
state where introduced—Iowa, M on­
tana, W yom ing, Minnesota, plus
repeals o f the law in South Dakota
and Texas.
Later, in the January, 1934
N o r t h w e s t e r n B a n k e r , Publisher
DePuy stated that he had opposed
form ation o f the FDIC because it
violated insurance underw riting
principles, but “ I feel that at least
for the time being that the tem­
porary insurance plan o f insuring
deposits up to $2,500 will work
satisfactorily because o f the ex­
treme care with which banking is be­
ing conducted in these days." In later
issues, Mr. DePuy hailed the suc­
cess o f FDIC and supported it. In
another editorial, he also called for
the form ation o f special schools to
train national and state bank ex­
aminers to assure both the banks
and the public that their banks were
being well examined and were in
sound condition.

where common transactions
are handled uncommonly well.
13th & M Street
Federal Reserve Bank of St. Louis


¡ ■


I ll

• Lincoln, Nebraska 68501 • Member, F.D.I.C.

Norwest Bank Des Moines , N.A.

Call (515) 245-3131 or toll-free (800) 362-2514
Member FDIC

one of the reasons
we're first in Iowa.
Bob Buenneke

Iowa News
A nationwide video-teleconference
on IRAs, entitled A Complete Market­
ing Plan For Banks to Increase Their
Customer Base, is scheduled to be held
February 2 from 10:00 a.m. to 4:00
p.m. at Des Mones Area Community
College in Ankeny.
Panel speakers for the teleconfer­
ence include: James E. Bond, vice pres­
ident, Interfirst Service Corporation,
Dallas; Winn Booth, partner, Ernst &
Whinney, New York; Robert P. Chamness, attorney, Witkowski, Weiner,
McCaffery and Brodsky, P.C., Wash­
ington, D.C.; Jonathan Lee Fiechter,
director, economic policy analysis divi­
sion, Comptroller of the Currency,
Washington, D.C.; Ann White, presi­
dent, Ann White Associates, Chicago,

Gary M cClim en

and Jack Whittle, chairman, Whittle
Raddon Motley and Hanks, Chicago.
Registration can be made with the
Iowa Bankers Association, 430 Liber­
ty Bldg., Des Moines, Iowa 50308.
AMES: Union Story Trust & Savings
Bank recently announced the promo­
tions of Gary Ellis to vice president,
loan officer; Thea Oppedal, vice presi­
dent and personnel officer, and Sandra
J. Winters, vice president and trust of­
CLARENCE: The Clarence Savings
Bank has reached an agreement to
purchase the Union Trust and Savings
Bank of Stanwood and Olin, upon ap­
proval by both banks’ stockholders
and regulatory authorities. No change
in bank personnel is anticipated. Upon
completion of the purchase, Clarence
Savings Bank will have assets over
$50 million.
MARION: Farmers State Bank here is
now offering discount brokerage ser­
vices to its customers. Farmers State
will execute customer orders through
the bank’s registered broker, Pershing,
a division of Donaldson Lufkin and

Nebraska News

to make MNB
work for you.
Toll free
1- 800- 332-5991

National Bank 151

Member F.D.I.C.


The Nebraska Bankers A ssocia­
tion 1984 Lending Conference will
be held January 11-12 at the Kear­
ney H oliday Inn.
On the 11th, the first session will
begin at 8:00 a.m. with “ How to be
an E ffective N egotiator” presented
by Professor Gerald Williams, Brig­

ham Young University. A t 10:45,
Dennis M cCuistion o f M cCuistion &
Associates, Irving, Texas, will pre­
sent “ The Im portance o f Financial
Statements and Cash Flow .”
A noon lunch will be followed by
“ H ow to In vestigate Problem
Loans” by Dennis M cCuistion. The
afternoon will conclude with “ Pro­
per Loan Docum entation” beginn­
ing at 2:30.
The second day o f the conference
will be broken into two sessions. The
morning session will be conducted
by Terry Backer, First National
Bank Aurora; Mike Welsh, First Na­
tional Bank, Ogallala, and Craig Jef­
fries, The Cattle National Bank,
Seward. They will present “ The Real
Estate Function and Your Bank,”
In the afternoon, a panel o f m icro­
computer experts will discuss “ M i­
crocom puters in the Lending Func­
tion.” The conference will adjourn at
GRAN D ISLAN D: Commercial Na­
tional Bank and Trust Company re­
cently announced the prom otion o f
George Howard as vice president
and manager o f commercial and real
estate loans. He previously served
as credit analyst for the bank.
County Bank, Bruce Davis has been
prom oted to vice president and
Thomas Curry to assistant vice
president. Mr. Davis has been with
the bank since 1980 in the commer­
cial loan department. Mr. Curry
started with the bank in 1982, serv­
ing as loan officer. He previously
was with Security National Bank in
YORK: John R. Munn has been
elected senior vice president and a
director o f First National Bank of
York. He will be responsible for the
lending division. Mr. Munn joined
Cattle National Bank o f Seward in
1975. In April, 1983, he joined Na­
tional Bank o f Commerce in Lincoln
where he has served as a correspon-

Professional ...
C all M ark C hristen fo r
any co rre sp o n d e n t service.
Call to ll free (800) 622-7262

Valley National Bank ili


M em ber FD IC
Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 1-9-84

Gowrie (Iowa) 1st State Bank Executive VP Nels Lindquist (right) and AGRIcareers’ placement VP Gus Barker display art that is part of a
bank sponsored effort to help the community raise money to convert the local depot into a museum.

Banker Sells Em ployees On S m all Town
When a traveler finds Gowrie on
the Iowa road map and notes its
population of only 1,200, the image
comes to mind of the typical midwestern farming community set in
its ways, no longer youthful and
But visit a few minutes with Ex­
ecutive Vice President Nels Lind­
quist at First State Bank of Gowrie
and the image quickly changes.
Nels himself is young, and has
employed youth, with experience,
to help operate the bank. In gen­
eral, Gowrie is alive and well!

Lindquist feels justified pride in
telling about the businesses on
Main Street that are operated by
young people. Often like himself,
they’re descendants of original
founders or employees.
The community has active Jaycees and service clubs; quality
schools; a lighted ballpark; volun­
teer fire and ambulance units; a
famous July 4 celebration; and a
roller rink.

AGRIcareers assisted First
State Bank of Gowrie hire
twice in year-and-a-half.

First State Bank, in business
since 1880, has five officers.
Deposits are $12 million, and the
bank’s front doors are open for
business 49 hours a week—week­
days 8:00 to 5:00, and Saturday
Nels “ sells” prospective em­
ployees on the bank and Gowrie.
At the same time, he’s very selec­
tive, resulting in the need for a
number of qualified applicants to
choose from. AGRIcareers helps
meet that need, explains Nels.
Gus Barker had been a savings
and loan officer manager. “ We’re
very happy with the way he’s turn­
ed out,” comments Nels. “ We in­
terviewed about a dozen people,
not all of them from AGRIcareers.
“ We need people who can say
no when necessary, yet keep the
customer. “ AGRIcarrers is a
valuable source of qualified pros­
pects. The several resumes they
sent looked good.”
w r

Bank Vice President Verlin
“Gus” Barker, age 27, came to
work in October, 1981, after being
recommended by AGRIcareers.
Also, Nels and his father and bank
president, M.W. Lindquist of Des
Moines, Iowa, employed Doug Foilman, age 23, through AGRIcareers
Digitized forfarm
Federal Reserve Bank of St. Louis

SINCE 1968
(5 1 5 )3 9 4 -3 1 4 5
NEW H A M P T O N , IA 5 0 6 5 9
(7 1 2 )7 7 9 -3 7 4 4
M A S S E N A , IA 5 0 8 5 3

Farm representative, Doug Follman joined
the 1st State Bank of Gowrie a year ago
through AGRIcareers, Inc.






Never a Fee From an Employee

Personnel Specialists Serving America’s Ag Lenders


Let Us Help You Hire Better, Faster, Easier

If you’re tired of the non-productive phone calls from em­
ployment firms, and the uninformative resumes you re­
ceive, call JEAN or LINDA, our Ag Banking Specialists.
After obtaining a complete description of the position, the
qualifications needed, and your personal preferences, you
w ill receive detailed resumes of only the candidates
meeting your specifications. Our candidates have been
thoroughly screened, referenced, and in most cases, per­
sonally interviewed and evaluated by us. This information
is passed on to you, w ith the candidate’s permission and
prior knowledge...Our clients depend on us for QUALITY!
NL-1 AG BANKER— Employed for a well known holding
company for past twenty years progressing from trainee to
management position. Currently responsible for branch of
$31 m illion. Strong ag lending skills. Community involved.
References say, “ He’s a very good performer, intelligent
and a conservative lender.” M.S. Animal N utrition. Mar­
ried, Age: 44. Lives SD. Mid $30,000’s. Call Linda at
banker seeks position w ith a $40 plus m illion bank. Ex­
perience includes ag and commercial lending, public rela­
tions and operations. Excellent results in workout situa­
tions. Strong dairy background. Good references. Two
plus years of college. Married. Age: 47. Lives IA. Call Linda
at 515-394-5827.
NL-3 AG LENDER— References say he’s TOPS! Excellent
rapport w ith farm customers...has a tremendous follow ing
of people (former voc ag instructor)...strong credit skills.
Available immediately. Two-and-one-half years of ag credit
experience. B.S. & M.S. in Ag Education. Married. Age: 30.
Lives IA. $25,000 + . Call Linda at 515-394-5827.
NL-4 EVP/CEO—“ Guaranteed to be bank president in a
few years” , former supervisor says! Offers well rounded
experience in ag credit analysis, cash flows, etc. and more
recently in commercial lending field. Aggressive. Four
year degree. Married. Age: 28. Lives MN. $35,000. Call Linda
at 515-394-5827.
NL-5 AG LOAN OFFICER— Realistic! This ag loan o fficer
w ill start employment at $15,000 annual salary. He has one
year of solid training by a well known bank holding com­
pany in ag credit analysis, microcomputers, etc. B.S. Ag
Business. Single. Age: 23. Lives IA. Call Linda at
NL-6 AG BANKER—Currently responsible for $12 million
ag loan portfolio and a sta ff of four. Previous banking ex­
perience w ith Iowa banks. Strong at problem loans. Very
likeable individual. B.S. Animal Science, Married. Age: 42.
Lives IA... wants So. IA. $31,000. Call Linda at 515-394-5827.
NL-7 #2 or 3 POSITION—Over seven years banking ex­
perience w ith agricultural emphasis. Combination of very
broad banking experience and more recently specialized
lending exposure. Wants to return to a smaller, community
bank in a management capacity. B.S. degree. Married.
Age: 31. Lives MN. $29,000. Call Linda at 515-394-5827.
NL-8 AG BANKING— His diversified background includes:
2 yrs. as a consultant and teacher in Brazil; 1 yr. w ith major
farm management firm as farm management consultant,
and 5 yrs. as county extension director for I.S.U. Good
references. B.S. Ag Admin. Single. Age: 34. Lives IA.
$18,000-20,000. Call Linda.
NJ-9 BANK FARM MANAGER/AG REP— His experience,
references, appearance, personality and drive rank him a
“ 10” on a scale of 1-10! Five years w ith major holding com­
pany; four in farm management and one as ag rep.
Reference says, “ to work out solutions
to tough problems, earns respect and estabishes strong
rapport w ith co-workers and clients...very professional,
mature, and sales-minded.” Iowa State grad, B.S. Ag
Business plus several bank and computer courses. Mar­
ried. Age 27. Lives IA. $29,000. Call Jean.

NJ-12 EXECUTIVE V.P. or SECOND MAN— Has been in
charge of all lending functions in three banks of same
holding company; from $25-$35 m illion in assets. Has five
years current ag loan experience. Looks for ways to make
loans, yet a conservative lender. Profit and people
oriented. Several banking courses. Married. Age. 43. Lives
IA. $35,000. Call Jean.
NL-13 VP or HEAD OF AG LOANS—Ten years bank ex­
perience. Responsible for $10MM in ag loans, plus shares
other loan duties, marketing, personnel, training, and
operations. M.S. and B.A. from Iowa State, plus graduate
of banking school and computer training. Active in com­
munity. Married. Age 39. Lives IA. $35,000. Call Jean.
NJ-14 AG LOAN OFFICER—Two plus years ag loan ex­
perience w ith major bank holding company. (Including 1 Vi
years extensive training in all phases o f banking.) Respon­
sible for $5 m illion loan portfolio. Excellent appearance.
Graduated at top of class from Iowa State w ith B.S. Ag
Business. Single. Age. 24. IA. $25,000. Call Jean.
NJ-15 AG LOAN OFFICER—Currently in fianl stages of
training in $25 m illion ag bank. Learning all functions of
lending and operations. Reference says, “ Positive perfor­
mance, learns quickly, well-rounded in operations, expect
to have him lending soon...sits in on loan interviews, and
does lot of work on delinquent accounts. Personality and
appearance are the best...he and wife have good public im­
age." B.S. Bus. Admin. Age 24. Lives NE. $19,000. Call
NJ-16 AG BANKING— Five years w ith FLB, has worked his
way up to Asst. V.P. Has handled complex, m ultiple en­
tities, problem loans and new business calls. Sound credit
apptitide, customer relations, and farm background.
References say, “ Hope he stays...we don’t want to lose
him” . B.S. Ag Bus. from Iowa State. Married. Age 27. Lives
IA. $26,000 + . Call Jean.
NJ-17 AG LOAN TRAINEE—One year as manager trainee
w ith finance company. Has experience in credit in­
vestigating, collections and loan closing. In the process of
obtaining insurance licenses. Trained at a bank during col­
lege work study program. Excellent references. A.A. Agri
Banking. Married. Age 24. $12,000. Call Jean.
NJ-18 AG LENDER— Energetic and am bitious man who
has lim ited advancement opportunities within the Farm
Credit System, after three years as ag loan officer in high
volume branch. Receives a top rating on performance
reviews, and supervisors praise the quality and quantity of
his loans, as well as his w illingness to assume more
responsibilities. B.S. Bus. Admin. Married. Age 27. Lives
SD. $27,000. Call Jean.
NJ-19 AG LOAN OFFICER—Active Asst. V.P. in Farm
Credit System, at branch w ith $35 m illion in loans. Impec­
cable appearance, outgoing personality (really enjoys call­
ing on new customers). References say, “ Tops in farm real
estate loans and collections, a definite asset to banks
looking for a strong ag loans man; uses good judgement
on problem accounts; establishes rapport w ith farmers;
very business-minded and professional” . Singlehandedly
set up a branch office and trained new staff. Licensed in
Real Estate. B.S. Ag Industries. Married. Age 29. Lives IL.
$30,000. Call Jean.

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.
Federal Reserve Bank of St. Louis

NW-1 COMM. LOAN OFF—Step in and assume full loan
load ($14 million). Five yrs. ag bank exper. w ith commer­
cial exposure. IA. $27-30,000.
NW-2 V.P./LOAN OFF—Overall banking resp. (loans, some
operations and compliance) for a $42 m illion bank. Ten
yrs. ag banking. Strong on compliance. IA. $30-35,000.
NW-3 CASHIER—Call reports, consumer loans, supervise
s ta ff of 5 and other office banking duties. 2-3 yrs. bank
exp. A number person. IA. $17-22,000.
NW-4 AG DEPT. HEAD—Supervise dept, of $15-18 m illion
along w ith other banking duties. MIN. 5 yrs. strong ag ex­
perience. Aggressive. IA. $25-32,000.
NW-5 APPRAISERS—Qualified and designated appraisers
for three locations. (IA & IL). ARA designation. Exp. in in­
dustrial and commercial valuation. $20-30,000.
NW-6 #2/AG DEPT.—Two person ag dept, w ith $12 m illion
in loans. MIN. 3-5 yrs. ag banking experience. IA.
NW-7 MORTAGE BANKER— New business development,
cash flows, analyze credit fo r a mortgage banking firm. 4
yrs. long term lending. IA. $25-30,000.
NW-8 VP—Work on ag loans as part of team (loans of $14
million). Strong cash flow person. 3-10 yrs. ag credit ex­
perience. IA. $25-32,000.
NW-9 AG LENDER—Experienced lender to step in and
make ag loans for an independently owned bank of $17
m illion. 2-3 yrs. ag credit exp. IA. $22-24,000.
NW-10 AG LOAN OFF— Handle ag loans for a $50 m illion
bank. 3-5 yrs. ag lending. Strong analytical ability. IA.

NW-11 AG LENDERS— Large multi-holding company seek­
ing experienced ag lenders. Need Good ag experience. SD.

20- 22, 000.

NW-12 AG LENDER—Strong ag lender, self starter needed
for a m etropolitan bank in SD. Mid $30,000’s.
NW-13 COMM. LOAN OFF— Handle commercial loans for
a $50 m illion bank. 2-4 yrs. ag/comm. exp. Outgoing.

NW-14 AVP—Commercial lending and real estate loans
for a loan volume of $13+ m illion. 5 yrs. hands on com­
mercial exp. Community involved. $25-28,000.
NW-15 EVP—$16 m illion bank needs above average in­
dividual to serve as EVP, handling loans (mostly ag), new
business dev. W ill lead to management of bank when
president retires. Requires strong ag lending and PR exp.
IL. $30-40,000 + .
NW-16 PRESIDENT/CEO—for a large bank. Requires top
credentials and solid record o f experience in loans, opera­
tions and PR as head of or second man in $30-100 m illion
bank. Must be currently employed and have long-term
record w ith no more than tw o banks. $50-55,000.

NW-17 EVP— In charge of loans and credit ($40 m illion
portfolio) mostly commercial. 10-15 yrs. comm, loan exp.
MO. $40-50,000.

NJ-10 ASST. V.P. AG LOANS—Three years as Ag Loan Of­
ficer for large unit of bank holding company. Services $8.5
m illion loan portfolio. Areas of expertise are business
development, training, customer relations, credit analysis,
and salesmanship. Has led the bank with over 60% of hail
insurance sales. Exposure to microcomputers, risk rating,
rec-checks, etc. B.S. Ag Econ. Single. Age 26. MN. $27,000.
Call Jean.
NJ-11 AG LOAN OFFICER—Two and a half years with
PCA, currently Asst. V.P. managing the field office and
$4-$5 m illion in loans, and two years as Asst. County
Supervisor w ith FmHA. Very personable, enjoys prospect
calls and farm inspections, and strong in analyzing
credits. B.S. Ag Econ. Married. Age 27. Lives MO. $28,000.
Call Jean.

If you have been considering a change, now is an excellent time
while the demand for qualified ag lending candidates is especial­
ly strong. As a third party, we can offer confidentiality required by
the applicant. Your information is confidential and will not be
devulged to a prospective employer without your approval. Either
Linda or Jean would be happy to discuss what kind of exciting
career opportunities might be available for a person with your ex­

NW-18 AG LOAN OFF— Multi-bank holding company seek­
ing #2 man for ag loans, business dev., work out problem
loans, etc. Min. 3 yrs. banking. Good personality. MO.

Linda: 515/394-5827
Jean 515/263-9598 if
New Hampton, la. 50659 no answer, 712/779-3567
Massena, Iowa 50853


NW-19 AG BUS. OFF— In charge of ag loan dept. ($10-11
m illion) for a large bank. 3-5 years ag credit exp. New bus.
dev. skills. Ml. High $20,000's.

NW-20 #2 MAN—Cash flow proj., fin. statements, farm
calls resp. for a $18 m illion bank. 5 years ag credit exp.
New business dev. skills. MN $18-24,000.

dent bank officer until this m ost re­
cent election.

Minnesota News
DASSEL: John Tjem agel o f Lake
W ilson, recently accepted the posi­
tion o f vice president o f Dassel State
Bank. He replaces Bob Putzke, who
has accepted a position with Norwest National Bank in South St.
M IN N EAPOLIS: Steven J. John­
son has been elected president and
chief executive officer o f Bank of
Minneapolis and Trust Company.
Mr. Johnson m ost recently served
as president o f the Security Na­
tional Bank o f Anchorage, Alaska.
M IN N E A P O L IS : A t F B S In ­
surance here, John C. Larson has
been named senior vice president o f
the new consumer insurance division
and E. Warren Bessler has joined as
senior vice president, agencies divi­
ST. CLOUD: First Bank here has
elected N. Thomas W iedebush presi­
dent and managing officer effective
February 1. He succceeds D. Jack
Robertson, who recently joined the
St. Cloud office o f Pier, Jaffray &
H opwood Inc. Mr. W iedebush cur­
rently is president o f First Bank
Willmar, a position he has held since

South Dakota News
FULTON: Gary L. Slade has joined
The Fulton State Bank as vice presi­

Portable Modular Bank Building

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R R 45, Box 115
Hiway 7 3 ,3 V2 M iles North of Int. 680
Omaha, Nebraska 68152

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for your bank:


Leroy Bell or

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315 East 5th St. • Waterloo, IA 50704

Member Federal Reserve System FDIC

dent. Mr. Slade started his banking by James F. Smith and Robert A.
career in 1974 with Commercial Schlict, who have been named presi­
Trust and Savings Bank o f M itchell, dent and executive vice president,
where he m ost recently was serving respectively. Mr. Smith will also
as vice president.
continue his duties as executive vice
president o f Bank o f M iddleton. Mr.
North Dakota News
Schlict had been serving as senior
BISM ARCK : First Bank Bismarck vice president o f the Shorewood
has announced the prom otion of Hills bank.
Tom Fix to vice president and
Wyoming News
manager o f the commercial loan de­
partment. Mr. Fix has been with the C A SPER: Daniels B. Sullivan,
bank since 1978, holding various president and chief executive officer
positions in the retail and commer­ o f Am erican Bank o f Casper since
cial lending departments.
1978, has been appointed chairman
o f the bank, and will also chair the
board o f the American Bank o f EastWisconsin News
ridge at the Eastridge Mall, sched­
B E A V E R D AM : Albert Franken­ uled to open in mid-January. Herb
stein has been named vice president McCulla, member o f the board of
senior loan officer o f the First Na­ American Bank o f Casper since it
tional Bank and Trust Company was founded in 1978, will assume
here. Mr. Frankenstein joined the the position o f chief executive officer
bank in 1980, previously serving at and president. In a related move,
First Bank & Trust Company of A m erican Bank vice president
W illiam W oodworth, III, has been
JAN ESVILLE: Bank o f W isconsin appointed president and chief ex­
has prom oted Robert A . Merriam ecutive officer o f the new mall bank.
vice president in commercial len­ CHEYENNE: James Cowan, senior
ding. Mr. Merriam joined the bank vice president in charge o f loans at
in 1975 and in 1982 was named ac­ The First National Bank and Trust
ting head o f the department.
com pany o f W yom ing, has been pro­
M ADISON : John F. Bolles has been m oted to executive vice president
elected president o f the Monoma and as a member o f the board. He
Grove State Bank here. He succeeds will assist the president as well as
David Paterson who retired Jan. 1. continuing his duties as senior loan
Mr. Bolles, who had been serving as officer. He joined the bank in 1979
president o f Bank o f Shorewood after retiring from the U.S. Air
Hills, will be succeeded at that bank Force.


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

CEO fo r $20 m illion Minnesota Bank. Requires proven
ability in com m unity bank........................................... Salary open
Ag Lender fo r Iowa Great Lakes Area multi-bank holding
company. Requires three or more years ag lending plus
degree............................................................................. Salary open
Ag Lender for bank in Greater Des Moines area. Excellent
opportunity fo r lender w ith three or more years ex­
perience, farm background and ag degree----- Salary open
Commercial Lender for large central Iowa independent
bank. Requires degree and five or more years commercial
lending experience......................................................... Salaryopen
Experienced Lender for Eastern South Dakota community
bank. Requires both commercial and ag loan background..
............................................................................... Salary open
Ag Lender for Southern Minnesota Multi-bank holding com­
pany. Requires five or more years experience. Applicant wilt
supervise $9 m illion Ag portfolio and tw o ag reps.................
.......................................................................Salary to $32,000

One, two and three bedroom units for
sale or rent. Most with hot tubs.
Phone 1-800/922-2590.
Dwayne Smith
Box S
Dillon, Colorado 80435

Sr. Lender for Southern Minnesota multi-bank holding com­
pany bank must be experienced in commercial, ag, and
retail lending.................................................Salary to $36,000
Commercial Lender for $60 m illion thrift institution in
Eastern Missouri. Excellent opportunity and bonus ar­
rangement.............................................................Salary open
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

Banking, Financial & Business Personnel
Iowa and Nationwide

Ag Lender for S.W. Iowa community bank. Must have three
or more years experience plus degree. Bonus arrangement.
.......................................................................Salary to $30,000

714 U.C.B. Building, 515-283-2545
Des Moines, Iowa 50309

Eddie Wolf Bank Sales
7202 Maple Drive, Des Moines, la. 50322
Phone: 515/278-2271

CREDIT MANAGER Immediate opening w ith progressive,
innovative wholesale chemical distributor. Requires at
least 2 years verifiable, successful experience in all as­
pects of wholesale credit. Send letter of application and
resume to file VBW c/o Northwestern Banker.
million bank. Good knowledge of bank operations required.
Action and results oriented individual. Sales experience
helpful. Send resume to David N. W althall, Pres., Hawkeye
Capital Bank & Trust, E. 5th & Locust, Des Moines, IA
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

Operations/Customer Contact for larger Iowa bank. Re­
quires banker who is customer-oriented. Excellent oppor­
tu n ity............................................................. Salary to $32,000
BANK MICRO COMPUTER PROGRAMS—Apple (tm) /IBMPC/Franklin Ace and other micro computers. We are distri­
butors for over 50 bank programs. Send/Call for complete
list. Phone 308/384-5995. Bankers Electronic Equipment
Inc., 380 N. Walnut, Grand Island NE 68801.__________(FS)
dition. W ith stand. Contact Jack Parmenter. Phone 319/
ALTOS MICRO COMPUTER—ACS8000-10 processor, 208K,
% Mb diskette drive, 10Mb fixed disk, 4 user ports, 3 printer
ports; CRT; MPI #MP150G printer, 150cps, dot matrix; and
Oasis operating system. $8000 negotiable. Phone Debi
Carter at 515/225-2300.__________________________ (FS)
USED GBC SHREDMATE— 12 paper shredder, complete
w ith stand. Shreds up to 16 pages. $750. Phone

Correspondent Officer for major midwest bank. Ag lending
background a plus. Must have five or more years banking ex­
perience .................................................................Salary open
Operations Officer to take charge of cashier duties in
Southern Minnesota bank........................... Salary to $30,000
Auditor/Comptroller for commercial bank in Dallas/Ft. Worth
area. Requires CPA degree and experience w ith “ BIG
EIGHT” firm .......................................................... 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 Pays Fee.

“ Successful Banking is Quality Personnel”
Eighteen years banking experience serving as
president o f rural and m etro po lita n banks enables
me to fin d th e “ rig h t” banking p o sitio n fo r you as a
banker o r the “ rig h t” o ffic e r fo r yo ur bank.

A N D l i l l W j ASSO CIATES

2508 East Meadow • Springfield, Missouri 65804
“ E m ploym ent Service”


Leading Des Moines bank seeking mid to upper
level Correspondent Banking Officer fo r 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
An Equal Opportunity Employer

SENIOR REAL ESTATE—supervise all lending functions
for Kansas Sav. & Loan. Requires seven yrs. or more real
estate lending experience.
COMMERCIAL LOAN— requires superior docum entation
and analysis skills. Manage commercial and real estate
portfolio for $40MM. bank.
REAL ESTATE LOAN— require lending, savings and
business development skills. W ill manage d is tric t for
growing Sav. & Loan.
ASSISTANT CONTROLLER— large suburban bank desires
accounting or finance major w ith some bank experience.
Duties involve both operations and accounting.
AGRI LOAN—handle all agri credits and some commer­
cial for $30MM com m unity bank. Could develop into se­
cond o ffice r position.

¿^HoCdsx and <zdh±oaLate,s,
Bank Consultants
Specializing in Bank Acquisitions
P.O. Box 450 405 Main Ames, Iowa 50010

Donald E. Holder , Principal

Resume and salary history requested. All


P.O. Box 12346 - 2024 Sw ift
North Kansas City, MO 64116
“ Serving the Banking Industry Since 1970”

Vol. 12 No. 38 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.
Federal Reserve Bank of St. Louis