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Vol. 12 No. 38 Des Moines, Iowa A D eposit Insurance Perspective B y BEN H ALLER, JR. Publisher 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 tion. 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 I 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. □ CALL ON THE “PERFORM ANCE TEA M ” where common transactions are handled uncommonly well. 13th & M Street https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I■ ¡ ■ ■ I ll FIRST NATIONAL LINCOLN • Lincoln, Nebraska 68501 • Member, F.D.I.C. Norwest Bank Des Moines , N.A. NORWEST BANKS Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC Teamwork: 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 ficer. 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 Jenrette. Nebraska News ASK TE R R Y M A R TIN to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA' BANK 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 4:15. 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. SOUTH SIOU X CITY: A t Dakota 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 Laurel. 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 ... Responsive... 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 DES MOINES, IOWA 50304 A BANKS OF IOWA' BANK M em ber FD IC https://fraser.stlouisfed.org 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 growing. 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 mornings. 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 rep. Digitized forfarm FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AG BAI1KING SPECIALISTS 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 NATIONWIDE Farm representative, Doug Follman joined the 1st State Bank of Gowrie a year ago through AGRIcareers, Inc. 1CAREERS, INC. ■ THE ORIGINAL AGRICULTURAL RECRUITER Á WANTED: BANKERS AG BANKERS NOW AVAILABLE Never a Fee From an Employee Personnel Specialists Serving America’s Ag Lenders Confidential 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 515-394-5827. NL-2 EXECUTIVE VICE PRESIDENT— Responsible ag 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 515-394-5827. 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, “ Outstanding...able 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 Jean. 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IOWA 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. $20-30,000. 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. $22-27,000. SOUTH DAKOTA 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. $30,000. ILLINOIS 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. MISSOURI 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 perience. 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. $30,000. MICHIGAN Linda: 515/394-5827 Jean 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 I Massena, Iowa 50853 aqnG4Rras,iNC. ■ J THE ORIGINAL AGRICULTURAL RECRUITER 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. MINNESOTA 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. Paul. 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 sion. 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 1980. South Dakota News FULTON: Gary L. Slade has joined The Fulton State Bank as vice presi Portable Modular Bank Building General Bank Equipment: S Systems, Inc. R R 45, Box 115 Hiway 7 3 ,3 V2 M iles North of Int. 680 Omaha, Nebraska 68152 (402)453-3000 Lease* Rent • Buy https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis An important new profit center for your bank: 3 Contact: Leroy Bell or - ■F L E ) a^co® m p uterized Milt Hennick local bllllns/credit service 319 291-5412 - National Bank of Waterloo 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 Burlington. 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. POSITIONS A V A IL A B L E — 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 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 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 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 SERVING PROFESSIONALLY Ag Lender for N.W. Iowa bank. Salary range is open, depen ding on experience. Nice small community and working con ditions. 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 CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 BANK SALES AND PURCHASES EDDIE A. WOLF Eddie Wolf Bank Sales 7202 Maple Drive, Des Moines, la. 50322 Phone: 515/278-2271 POSITION AVAILABLE CREDIT MANAGER Immediate opening w ith progressive, innovative wholesale chemical distributor. Requires at least 2 years verifiable, successful experience in all as pects of wholesale credit. Send letter of application and resume to file VBW c/o Northwestern Banker. (PA) VP/MARKETING SENIOR MANAGEMENT POSITION, $100 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 50307.__________________________________________(PA) COMMERCIAL LOAN OFFICER— Requires degree plus 3 years commercial loan experience. Some operations ex perience helpful. Salary open. Contact Steven L. Afdahl, E.V.P., Citizens National Bank, Boone, IA 50036. Phone 515/432-7611. (PA) Operations/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) NCR CLASS 33— FIVE PROGRAM BARS— Excellent con dition. W ith stand. Contact Jack Parmenter. Phone 319/ 364-1000._____________________________ (FS) 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 (402)494-2001. (FS) 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. B A N K IN G P LA CE M EN TS “ 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. DO N -SC H O O LER In A N D l i l l W j ASSO CIATES 2508 East Meadow • Springfield, Missouri 65804 417/882-2265 COMPLETELY CON FID EN TIAL “ E m ploym ent Service” POSITIONS A V A IL A B L E CORRESPONDENT BANKING OFFICER 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 Banker. An Equal Opportunity Employer SENIOR REAL ESTATE—supervise all lending functions for Kansas Sav. & Loan. Requires seven yrs. or more real estate lending experience. $40,000 COMMERCIAL LOAN— requires superior docum entation and analysis skills. Manage commercial and real estate portfolio for $40MM. bank. $35,000 REAL ESTATE LOAN— require lending, savings and business development skills. W ill manage d is tric t for growing Sav. & Loan. $30,000 ASSISTANT CONTROLLER— large suburban bank desires accounting or finance major w ith some bank experience. Duties involve both operations and accounting. $20,000 AGRI LOAN—handle all agri credits and some commer cial for $30MM com m unity bank. Could develop into se cond o ffice r position. $30,000 ¿^HoCdsx and <zdh±oaLate,s, Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 Donald E. Holder , Principal Resume and salary history requested. All confidential. inquiries TO M H A G A N & A S SO C IA T E S P.O. Box 12346 - 2024 Sw ift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 No. 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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