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0 Vol. 12 No. 12 Des Moines, Iowa New Rules, B ills A bound in D.C. w ^ 0 0 0 0 0 # in Washington tradi A CTIVITY tionally took a summer hiatus "back in the good old days” but the frantic pace of today’s business and political world doesn’t even pause for an "excuse me” when committees, bureaus and the White House maintain a full head of steam while the legislators are out of town. While the Senate and House were adjourned, the DIDC held its quarterly meeting June 30 and removed rate ceilings and other remaining regulations on all time deposit ac counts of 31 days maturity or more. In addition, it retained the mandatory early withdrawal penalty of 31 days of interest, whether earned or not, on deposits with maturity of a year or less, and penalty equal to 90 days’ interest on time deposits of over one year. The DIDC also voted a $2,500 minimum requirement on new time deposit accounts with ma turity of 31 days or less, bringing this minimum into line with minimums on other maturities. The same minimum exists for the Money Mar ket Deposit Account and the Super Now Account. The new rules, passed by a 4-1 vote, are effective October 1. The non-bank financial organiza tions think it’s all hilarious. They set their own maximums, minimums, or none at all, and ignore the regula tors who regulate their handcuffed bank and thrift competitors. On another front, Senate Bill S. 1532 and House Bill H.R. 3413 were introduced before recess to establish a moratorium on the acquisition of banks by non-banking institutions. The bills prescribe that no company engaged “ in any activity not permit ted for a bank holding company un der Section 4 of the Bank Holding Company A ct shall acquire control of any insured bank.” This would prevent acquisitions of banks by in surance and brokerage firms. This would also preclude Dimension Fi nancial Corp. from establishing a chain of 31 "nonbank banks” in 25 states. Sen. John Heinz (R., Pa.) said, "Congress needs time to act cautiously and thoroughly...it will be difficult to resurrect the local banks, savings and loans and other small institutions that are gobbled July 11,1983 up across state lines and industry lines or those that simply get tram pled out of existence in the panic.” House Banking Chairman Fernand J. St. Germain (D., R.I.), tossed a surprise in the hopper when he off ered a bill that would make such a moratorium retroactive to January 1, 1983. If enacted, his bill would wipe out all acquisitions made cross industry since the start of the year. His bill, it is reported, would outlaw the plans by some New England states for reciprocity by allowing mergers with other regional banks across state lines. If enacted, the St. Germain bill also would force Bank of America to divest itself of the Charles Schwab Corp. discount bro kerage firm, a move termed “ ab surd” by a BofA spokesman. In ad dition to other examples of unscram bling, his bill also apparently would void South Dakota’s bill allowing Citicorp and others to buy South Dakota banks to get into the insur ance business. A number of Washington "view ers” think Chairman St. Germain is “ playing politics” with his bill either to show how "outrageous” it is, as some describe it, and gain sup port for more permanent legislation on banking powers, or perhaps to es tablish leverage for bargaining pur poses with the Senate when a final bill goes to compromise. The Administration’s morator ium bill from the Fed has been intro- A S K T E R R Y M A R TIN to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank ill M e m b e r F .D .I.C . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A 'B A N K S O F IO W A ' B A N K cdfoßdsx a n d cd^noaLatzi, Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 D o n a l d E . H o l d e r , Principal to vice president, and the promotion of Gerald J. Lenczowski, commercial loans, to assistant vice president. duced by Senate Banking Chairman Jake Gam (R., Utah). Meanwhile, the Independent Bank ers Association of America teamed last week with the Independent Community Banks of Illinois and the Deerbrook State Bank of Deer field (suburban Chicago) in a Federal District Court suit in Chicago against the Comptroller of the Cur rency, requesting the Court to stip ulate the Comptroller has no power to rule on the application of Dimen sion Financial in the latter’s applica tion for an Illinois bank. The IBAA has a petition currently on file with the Federal Reserve Board in Wash ington asking for a determination whether Dimension is in actuality a bank holding company. The IBAA selected the Chicago regional Comp troller’s office for the suit since that office stated two years ago on an other matter that the Comptroller has no power to make interpre tations under the Bank Holding Company Act. □ chairman, Touche, Ross & Co., New York (formerly manager of the ac counting firm’s office); E. Gerald Corrigan, president, Federal Re serve Bank of Minneapolis; Harry V. Keefe, Jr., chairman and CEO, Keefe, Bruyette & Woods, Inc., New York; Iowa native Hugh Sidey, Time magazine, Washington, D.C., and IBAA President James D. Herring ton, chairman and president, Coldwater National Bank, Coldwater, Kan. FORT DODGE: Linda M. Fuller has been advanced to trust operations officer at United Central Bank & Trust Co., according to UCB Presi dent Jim Hughes. She joined the bank in April, 1978. GRINNELL: A t Poweshiek County National Bank, Dennis H. Hanson has been elected vice president and Nona E. Paisley has been promoted to assistant vice president. New as sistant cashiers are Daryl K. Petty and Jerald B. Sullivan. Iowa News Nebraska News Members of the Iowa Indepen dent Bankers will meet at The New Inn, Lake Okoboji, July 21-23, for their annual meeting. Presiding will be Don Heineking, president of IIB and president of Security State Bank, Hubbard. Out-of-state guest speakers include Prof. Charles M. Wilhams, Graduate School of Bus iness Administration, Harvard Uni versity, Boston; W. Grant Gregory, LINCOLN: Paul J. Amen, Nebraska director of banking and finance, has approved the merger of First Sav ings Company of Lincoln, an indus trial loan and investment company, into First National Lincoln. OMAHA: Edward A. Kohout, presi dent, Norwest Bank Omaha South, has announced the promotion of Jack D. Hobble, real estate lending, OMAHA: Plans have been approved for a new building to house the Omaha branch of the Federal Re serve Bank of Kansas City, it was announced June 30 by Roger Guf fey, president of the Kansas City Fed. The site is located between Farnam and Harney Streets, bounded on the west by 24th Street and ex tends east to the two buildin gs that are one-half block deep facing 20th Street. The 109,000 square-foot building and the rest of the 6.8 acre site will be under construction early in 1984 at a total cost, including land, of about $20 million. C om e to the quality investm ent specialists in Nebraska and Iow a. 1 A A e ’reyour ” best authorities for bond portfolio m anagem ent recommendations. O ur quality is your key to success. Professional ... Responsive... Call Mark Christen for any correspondent service Call toll free (800) 622-7262 Jeff Goble || Valley National Bank i§i D E S M O IN E S , IO W A 5 0 3 0 4 A B A N K S O F IO W A B AN K Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Dave Dickens Investment Banking Division UN ITED MISSOURI BANK of Kansas City, n.a. 10th and Grand o P.O. Box 226 Kansas City, Missouri 64141 (816) 556-7200 MB Returns to O koboji TP HE NEW Inn will again be headquarters for the I annual convention of the Iowa Independent Bankers at Lake Okoboji July 21-23. IIB President Don Heineking, president of Security State Bank, Hubbard, will conduct the opening bus iness meeting. Assisting him the past year as officers were Arnold Schultz, president of the Grundy National Bank, Grundy Center, IIB vice president, and William P. Wilson, president of Oelwein State Bank, IIB trea surer. Richard W. Berglund, a Des Moines attorney, is executive vice president of IIB. A full range of social and business activities for the two and one-half days of the convention is available for registrants of all ages, as shown in the following pro gram: Vice Pres. W.P. WILSON Treasurer ■ 1 JP M M j $ IP ■■ m. # iiJHgMmyf 0* * ^ ' R.W. BERGLUND Exec. V.P. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ■ p? Ki' A 4 TP i€ jm - - ■ P.M. Thursday, July 21 Noon Registration—Lobby of the New Inn (until 6:00 p.m.) Couple’s Golf Tournament—Emerald Hills Golf Course. 5:00 Young People’s Gathering—Western Roundup Chuck Wagon Style, games, tournaments, & more! (until 7:00 p.m.) 5:30 No Name Reception (Adults Only), The New Inn Poolside. The Ben Harrison Duo - Direct from Nome! (until 7:30 p.m.) A.M. Friday, July 22 8:45 Young people’s par 3 golf tournament & tennis tournament. 8:45 First general session—The New Inn Convention Center. Call to Order—Donald W. Heineking, president, IIB, and president, Security State Bank, Hub bard. Invocation. •Keynote Address—President Heineking. •Report of the Executive Vice President & Leg al Counsel—Richard W. Berglund. •“ Building a Strategy for Survival and Posteri ty” —Professor Charles M. Williams, Graduate School of Business Administration, Harvard University, Boston, Mass., followed by question/answer session. •“ The Future of Independent Banks—A Per spective” —W. Grant Gregory, chairman, Touche Ross & Co., New York, followed by question/ answer session. P.M. Noon Ladies’ Luncheon, The New Inn Lakeview din ing room. “ Feeling Good” —Joan Johanson, Gowrie. 12:30 Golf Tournament — shotgun start, Okoboji View Golf Course. C.M. WILLIAMS (Turn to next page, please) Supplement to Northwestern Banker Newsletter 7-11-83 MB P ro g ra m ... W.G. GREGORY E.G. CORRIGAN J»! H. SIDEY T.H. HUSTON O.J. TOMSON https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis H.V. KEEFE, JR. M. FITZGERALD J.D. HERRINGTON Saturday, July 23 A.M. 8:45 Second general session—The New Inn Conven tion Center. Call to order—Arnold Schultz, vice president, I IB, and chairman and president, The Grundy National Bank, Grundy Center. •E. Gerald Corrigan, president, The Federal Reserve Bank of Minneapolis. •“ View From W ashington“ —Hugh Sidey, Washington contributing editor, Time Mag azine, Washington, D.C., followed by question/ answer session. •“ Interstate Banking Is Here!“ —Harry V. Keefe, Jr., chairman and chief executive officer, Keefe, Bruyette & Woods, Inc., New York, fol lowed by question/answer session. Annual business meeting—Donald W. Heineking, presiding. Report of the resolutions committee—Chairman Robert K. Ackley, president, South Ottumwa Savings Bank, Ottumwa. Report of the programs & public relations com mittee—Chairman David Taylor, president, Iowa Trust & Savings Bank, Centerville. Report of the nominating committee—Chair man Fred W. Hagemann, president, State Bank of Waverly. Election of officers. Announcements. Adjournment to registrants’ luncheon. P.M. Noon Registrants’ luncheon (bank representatives), The New Inn Lakeview dining room. •Introduction and remarks of dignitaries. •The Honorable Thomas H. Huston, superinten dent of banking, Iowa Banking Department, Des Moines. •The Honorable Michael Fitzgerald, treasurer, State of Iowa, Des Moines. •O. Jay Tomson, director, Federal Reserve Bank of Chicago, and president, Citizens Na tional Bank, Charles City. •James D. Herrington, president, Independent Bankers Association of America, and chairman and president, Coldwater National Bank, Coldwater, Kansas. Golf awards. 12:30 For the ladies—While the bankers are attending the registrants’ luncheon and during your “ Dutch Treat” lunch. “ A Basket of New Ideas“ —Mary Rahn and Sandi Wilmont, Book & Things, Spencer, New Inn Poolside. 5:30 Social hour, The New Inn Beach. 6:30 Barbecue, The New Inn Beach. Par 3 golf & tennis awards. Prizes. Couple’s golf awards. □ MARSHALL: William King has been elected president of First Bank Southwest—I vanhoe office and Wal ter Strangman president of First Bank Southwest—Minnesota office. Donald J. Venne continues as chair man and CEO of First Bank South west. MINNEAPOLIS: Robert F. Bodeau has been appointed director of mar keting for F&M Marquette National Bank as well as its parent company, Bank Shares Incorporated. He was formerly an account supervisor with Campbell-Mithun, Inc., the national ly known advertising agency located in Minneapolis. Wentzel have been elected assistant vice presidents of American Bank and Trust Co. FARGO: Fargo National Bank & Trust Company has named Robert J. Thibedeau to head the newly cre ated financial planning division. He is a CPA. WORTHINGTON: Paul E. Kleinwachter has been appointed ag loan officer at Norwest Bank Worthing ton. He has a BS in agronomy de FARGO: Stan K. Dardis has been gree from the University of Minne elected executive vice president of sota and joined the bank in June, Norwest Bank Fargo, according to 1982. Tim V. Stem, president and CEO. He joined the bank in 1981. Illinois News CHICAGO: American National Cor poration, holding com pany for American National Bank and Trust Company, has received Fed approv al to purchase First American Bank of Bensenville and First National Bank of Libertyville. The purchase aggregates $226 million in assets. GALESBURG: Malcolm E. Lamb ing, Jr., president and CEO of First Galesburg National Bank and Trust Company, has announced the ap pointment of Albert C. Dickson, Jr., as senior vice president-lending. North Dakota News FARGO: James Hockett and Hal Montana News BOZEMAN: J. Scott Heck has joined First National Bank as vice presi dent and manager of the real estate department. GREAT FALLS: Phillip B. Johnson has joined First Bank West Great Falls as vice president and second officer. Since 1981 he has held a similar position with First Bank Clo quet in Minnesota. LEWISTOWN: The board at First Bank Lewistown has elected Donald R. Browne as chairman and D.A. (Al) McRae as president. Mr. Browne will retire December 31 and con tinues until then as managing of ficer. MILES CITY: C. Terry Wagner has been elected president of First Citizens Bank. Wyoming News CASPER: The election of three new vice presidents at Wyoming Nation al Bank was announced by Robert Hays, president. All are in commer cial loans. They are: Jim Ahrendt, Kent R. Robson and Mark Z. Zaback. SHERIDAN: Joseph R. Lyman has sold his interest in First National Bank Thermopolis, First State Bank of Shoshoni and First State Bank at Afton, in order to concentrate his at tention on forming a new bank in Sheridan. SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 Loan participation through us can help improve your bottom line For that reason, banks in Iowa depend on Correspondent Banker Dick Flesvig ♦ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis First Bank Saint Paul Member First Banki System Correspondent Banking Division 332 Minnesota Street Saint Paul, Minnesota 55101 (612)291-5577 POSITIONS AVAILABLE BANK SALES AND PURCHASES EDDIE A. WOLF Eddie Wolf Bank Sales 7202 Maple Drive, Des Moines, la. 50322 Phone: 515/278-2271 Ag Banking Personnel CEO for com m unity bank in eastern Iowa. Must have allaround experience....................................................... $30,000 Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi dential. Employers pay us to hire the best. Commercial Lender for m ulti-bank holding company located in city of 100,000. Requires tw o or more years ex perience................................................................... To $28,000 Ag Lender for bank near Iowa Great Lakes. Must have three or more years of commercial banking experience. ................................................................................. To $30,000 Senior Commercial Lender for eastern Iowa bank. Re quires five or more years experience plus real estate knowledge and good docum entation.................................To$35,000 POSITION AVAILABLE $60 million southeast Iowa bank in great community needs individual to perform personnel, audit and com pliance functions. Excellent benefits. Salary commen surate w ith experience. Send resume, salary history and requirements to file UBD, c/o Northwestern Banker. (PA) $37 m illion central Iowa bank needs AGRICULTURAL LENDING OFFICER. Located in town of 600. 1-2 years ag lending experience preferable. W rite file UBE, c/o North western Banker. (PA) Commercial Lender for major Wyoming bank. Must have five years or more experience....................................... Salary Open Linda: 515/394-5827 Jeannie: 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 I Massena, Iowa 50853 BOP CAREERS, INC. J THE ORIGINAL AGRICULTURAL RECRUITER Ag. Loan Officer w ith approximately 3-5 years experience needed in an $80 m illion bank in southeast Iowa. Send resume to file UBF, c/o Northwestern Banker. (PA) AG LENDING AND OPERATIONS for Iowa bank. Number tw o position. Several years lending experience required. Real estate, insurance, and computer experience a plus. Salary commensurate w ith experience. Send resume and salary history in strict confidence to file UBI, c/o North western Banker.. (PA) AG LENDER for central Iowa bank. Several years lending experience desirable. Operations and/or computer exper ience a plus. Send resume and salary history in strict con fidence. Salary commensurate w ith experience. W rite file UBH, c/o Northwestern Banker. (PA) EXECUTIVE BANK RECRUITING Why Not a Higher Paying Position? Call us and lets talk about your banking career. R.E.B. & Associates Executive Search Consultants 13625 C. St., Omaha, Nebraska 68144 Phone: 402/333-8248 or 333-6604 FOR SALE REPOSSESSIONS We are professional truck people w ith over 30 years experience dealing w ith repossessed trucks, semi tractors and trailers. No obligation for our advice. MURPHY TRUCK & TRAILER SALES 15-5th Ave. S.E. 515/456-2511 HAMPTON, IOWA 50441 NCR USERS— Buy from Mountain States Paper and save! For ail your paper and MICR ribbons for the NCR 775,7750, 7760, 7740. Call to ll free and receive 10% discount! 1-800-442-2829 WY. 1-800-523-8368 other states. Serving the banking industry. (FS) MARKET RESEARCH COMMUNITY ATTITUDE SURVEYS ...Since 1937 Central Surveys, Inc. P.O. Box 100 Shenandoah, Iowa 51601 ____________ (712) 246-1630____________ POSITIONS AVAILABLE All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma Three PRESIDENT positions in banks of $5mm, $30mm, and $10mm. Seven COMMERCIAL LOAN OFFICER positions in banks ranging in size from $25mm to large Metro banks. Three OPERATIONS positions in banks from $20mm to $200mm. Two AUDITOR positions, one in small town, one in city. Four ASSISTANT VICE PRESIDENT, COMMERCIAL, posi tions in city. BANKING If you would like to evaluate your career, my clients across the country have a wide range of needs in operations, lending, and trust. Salaries are In the $20-80,000 range. Clients pay our service charge. Call or write: W alt Heyne, Dunhill of Fayetteville Box 1570, Rogers, Arkansas 72756 Phone: 501/636-8578 Three AGRICULTURAL LENDER positions, all in small towns, one suburban. One CREDIT ANALYST, one HEAD OF CREDIT DEPART MENT, both city. WIRE TRANSFER position, SAFE KEEPING/TRADING/ CASHIER both city. Positions available change as more openings become avail able or as positions are filled. If you are interested in making an advancement or change in your present situation, as a candidate registered w ith me, you w ill be informed as posi tions come available that would appeal to you based on what YOU want in a bank, in salary, in location, and in size of town or city. I do not reveal your name to a client bank un til you are interested in interviewing. Eighteen years of banking service as President of both rural and metropolitan banks enables me to find the right bank ing environment for you. Phone or send resume to: Don W. Schooler, 901 A. West Jackson, Ozark, Missouri 65721. Phone (417) 485-6020. "Successful Banking is Quality Personnel" Banking Employment Service_________ Farm Manager to assist tru st department in major western Illinois bank.................................................................. $25,000 Commercial Lender fo r western Illinois bank located on M ississippi. Job entails being number tw o person in bank. .................................................................................. To $30,000 Ag Lender for southern Minnesota bank located in larger com m unity............................................................................. To $30,000 POSITION WANTED AG LOAN OFFICER— Farm background. Several years ex perience in production credit systems. Familiar w ith cash flow projections and farm appraisals. Desires position in progressive country bank. W rite file UBG, c/o Northwest ern Banker. (PW) Number Two Person for county seat bank in western Iowa. Can lead to CEO position in a couple of years.. .To $40,000 Write or call Malcolm Freeland, Freeland Financial Ser vices, Inc., 1032 Carriers Bldg., Des Moines, IA 50309. ________ Phone 515/282-6462. Employer pays fee. TOWN HOMES FOR SALE A t P re-C onstruction Prices W ith 1 2 V 2 % * F inancing A vailable DWAYNE SMITH Paradise Properties Box S Dillon, Colorado 80435 Phone 1-800-922-2590 ‘ Subject To Change Buy * Sell * Lease All IBM Systems and Peripherals We specialize in Banking Equipment Immediate A vailability Guaranteed M/A 1255-1, II, III S/4300 1419-1 S/34, 38 3614-All Models S/3600 3624-All Models S/4700 NCR 1780 Diebold 910 Contact: Tom Garlie & £9U I A s s o c ia te d C o m p u te rs , Inc. P.O. Box 120 • Rogers, MN 55374 0120 • (612) 428-2285 POSITIONS AVAILABLE PRESIDENT—current adm inistrative experience com bined w ith strong commercial loan and ag lending background required. $40MM com m unity bank. $ Open PRESIDENT—position requires agriloan experience. Rural bank of $5MM w ithin 20 m iles of large community. $25,000 BANKERS AVAILABLE CEO w ith proven high performance record in community bank seeks new opportunity......................... Salary $45,000 Commercial Lenders w ith experience ranging from three to 20 years..................................................Salary to $50,000 Senior Ag Lenders w ith experience ranging from 5 to 20 years........................................................... Salary to $40,000 Junior Ag Lenders w ith one to five years experience. ..................................................................... Salary to $25,000 AGRILOAN—w ill handle m ajority of ag credits for $50MM com m unity bank. Requires five yrs. or more experience. $28,000 COMMERCIAL LOAN—$150MM suburban bank affiliated with major holding company. Need some commercial real estate experience. $35,000 OPERATIONS—$65MM central Missouri bank. Requires thorough knowledge of operations and regulatory repor ting. $30,000 Administrative Officers w ith major banking experience. ..................................................................... Salary to $50,000 SECOND OFFICER— manage $20MM rural bank in owner’s absence. Agriloan and operations experience desired. $30,000 Installment Lenders w ith over five years banking ex perience......................................................Salary to $25,000 All inquiries held in confidence. Resume' and salary history requested. Operations people w ith over five years experience............. ..................................................................... Salary to $30,000 TOM HAGAN & ASSOCIATES of Kansas City If you are considering an additional officer, we have dozens of qualified applicants listed in most job cate gories. W rite or call Malcolm Freeland c/o Freeland Finan cial Services, Inc., 1032 Carriers Bldg., Des Moines, IA 50309. Phone 515/282-6462. Employer pays reasonable fee. 2024 Sw ift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 No. 12 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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