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• July 13,1981 Des Moines, Iowa Vol. 10 No. 12 Nebraska Supreme Court W ill Rule on BH C Law Validity N A HISTORIC move, the Nebras ka Supreme Court has agreed to take the unprecedented step for that state o f accepting original jurisdic tion over the dispute contesting the validity of LB 376, the multi-bank holding company and full service branching bill which was passed May 28 by the state legislature on a 25-24 vote. The deciding vote on the issue was cast by Lt. Gov. Roland Luedtke, and he then signed the bill into law while Gov. Charles Thone was out of the state. LB 376, scheduled to become effective August 30, is being held in abeyance under an opinion from Nebraska Attorney General Paul Douglas, who wants the courts to decide if the action taken by the Lt. Governor was legal. The Supreme Court of the state accepted the petition of two Nebraska banks which are asking for a declaratory judgment against Neb raska Banking Director Paul Amen, who has delayed their applications for expansion of existing offices to full service branches and the addition of one more office by one o f the banks. The petition to the Supreme Court was filed by City Bank & Trust Co. of Lincoln and Center Bank of Omaha. City Bank is an independent; Center Bank is an affiliate of Northwest Bancorporation of Minneapolis, I which also has four other banks in Nebraska, including United States National Bank of Omaha, one of the advocates of LB 376. This is the first time the court has accepted a petition that was not heard first in lower courts. The petitioners asked the court to instruct Mr. Amen to issue thenapplications in line with provisions of J X the new law. Mr. Amen has said he welcomes the court test in order to “ clear the air on this law.” Center Bank had applied for a third full-service facility, authorized under the new law, to be opened in Omaha. City Bank of Lincoln wanted to expand a facility to full service in Lincoln. It appears that the Supreme Court will take up the issue immediately after it returns from summer recess. One source said the court would hear oral arguments September 21. It is believed the court will act quickly and have a ruling before the next legislative session resumes in Jan uary, possibly announcing its action within a month after hearing arguments. LB 376 was a hotly contested piece of legislation that had been before the unicameral legislature in Lincoln for the past several sessions. Under terms o f the bill as passed, multi-bank holding companies could be formed in Nebraska. Each company could hold up to nine banks owning no more than 10% o f the deposits o f commercial banks and savings and loan associations combined. The two limited service facilities authorized under present Nebraska law would be expanded to four authorized facilities in the city where the bank is located, and these facilities could be full service. The larger banks in the state— Omaha National, U.S. National, National Bank of Commerce in Lincoln and later the First National Lincoln—backed the bill to give them the capability to compete statewide with S&Ls which have branched statewide with unlimited authority from their regulators. The bill was opposed by the Nebraska Bankers Association and the Nebraska Independent Bankers Association. □ ASK TERRY MARTIN to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank is i Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A ‘BANKS OF IOWA’ BANK Bob Buenneke IOWA. T eam w ork: O ne o f the reasons we’re first in Iowa. D e s m a n e s BANKERS PARTICIPATING Lease P lan , Inc. 545 - 31st Street Terri Steam Note Department An Affiliate o f Northwest Bancorporation ISMMAJ® M em ber f d ic Market Day Is Sept. 2 Des Moines, Iowa 50312 R. L. “DICK” SELLON Call (515) 245-3131 or toll-free (800) 362-2514 in the Liberty Building, which has no tenant space available for consolida tion or expansion. The IB A has scheduled a series of 10 meetings August 3-7 in each of the 10 groups of the association so that IB A officers may explain the proposal to the membership and obtain their necessary approval. The option signed June 25 requires membership approval within 60 days. The IBA now has 100% membership among Iowa’s 657 banks. The meeting times and places will be announced in the next issue. The 25th Annual Market Day in St. Joseph, M o., co-sponsored by the First Stock Yards Bank and First National Bank of St. Joseph, will be held September 2, according to John E. Kam, president of First Stock Yards Bank. Registration begins at 9:00 a.m. in the First Stock Yards Bank lobby, followed by a tour of Bio-Zyme Enterprises, Inc., just a few blocks away. Luncheon at the nearby Hoof and Horn Steak House will be followed by a Market Report. The afternoon ag program at St. Joseph Country Club will be AM ES: The first resident session of concluded with the usual social hour the A B A ’s Advanced Agricultural Banking School will be held July and steak dinner. 12-17 on the campus of Iowa State Iowa News University here. Only 150 qualified The Iowa Bankers Association candidates have been accepted for the board of directors has approved opening session of this two year purchase of The Plaza Building at 600 program. Keosauqua as headquarters for the IB A. The two-story building has OTTUMW A: A July 18 open house is 32,000 square feet of space, about planned to celebrate the recent two-thirds of which will be occupied expansion and remodeling of First by the IB A and its subsidiaries and National Bank’s Northgate office. the rest occupied by outside tenants. Festivities will include a live band, The building has 20 parking spaces refreshments and continuous tours. adjacent to it and another 60 spaces SIOUX CITY: J. William Van Dyke, across the street on property that 71, retired chairman of the Toy goes with the building. Present IB A National Bank, died July 1 at his offices occupy two separate locations home after a lengthy illness. A grandson of James F. Toy, founder of the bank, Mr. Van Dyke also was Estate Appraisals affiliated with banks in Alta, Anthon, Charter Oak and Holstein Purchase of and was president of First Trust and Collections Savings Bank in Alta for many years. Survivors include his widow; two sons, John W. Van Dyke, Jr., chairman of the Toy, and Thomas W . Van Dyke, vice president of the bank, and a brother, Carleton C. Van Dyke, also formerly affiliated with the Toy. W EBSTER CITY: Norman Skadburg has been elected president of the First State Bank. He was most recently vice president of the Poweshiek County National Bank in Grinnell, and is also a director of the Ankeny State Bank. Minnesota News ST. PAUL: Mrs. George (Helen) Michaels died July 6 a week after suffering a critical head injury when she fell backwards on the basement steps at their home at 5704 Wooddale Ave. in Edina. Mr. Michaels was vice president/marketing at American National Bank & Trust Co. until his retirement one year ago. WINDOM: First Bank Windom recently commemorated its 100th anniversary with a barbeque at the county fairgrounds. Following the meal The Spurrlows, a pop music group, performed and the audience viewed a fireworks display. Nebraska News BAYARD : First National Bank has announced the addition of Richard Powell as executive vice president. COLUMBUS: Paul F. Bradley, 49, president of Columbus Bank & Trust Co., died of cancer recently. He joined the bank in 1958, and succeeded his father as president in 1977. DONIPH AN : The Bank of Doniphan Sale o f Rare Coins R e lia b le and respected service fo r over 20 years U sed by bankers throughout the m idwest Ben E . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W ith Availability Availability of fu n d s. . . availability of people. . . responsive to your needs. National Bank of W aterbo Waterloo, Iowa 50704 Member FDIC at 1-800-772-2411 Carleton D. Ben Company Supplement to Northwestern Banker Newsletter 7-13-81 Division o f E.F. H u tto n & C om pany Inc. Investment Bankers/Financial Consultants PRELIMINARY CIRC ULAR-NEW ISSUE SALE DATE: $9,085,000 STATE BOARD OF REGENTS OF THE STATE OF IOWA July 13,1981 MOODY’S: S&P: (State University of Iowa) Academic Building Revenue Bonds, Series S.U.1.1981 Dated: July 1,1981 Denomination: $5,000 Both principal and semiannual interest (January 1 and July 1, first coupon due on January 1,1982) payable at the Office of the Treasurer of The University of Iowa, Iowa City, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXATION, IOWA INCOME TAXATION, AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. MATURITIES $500,000 July 1, 1984 $500,000 July 1, 1993 500,000 July 1, 1985 500,000 July 1, 1994* 500,000 July 1, 1986 500,000 July 1, 1995* 500,000 July 1. 1987 500,000 July 1, 1996* 500,000 July 1, 1988 500,000 July 1, 1997* 500,000 July 1, 1989 500,000 July 1, 1998* 500,000 July 1, 1990 500,000 July 1, 1999* 500,000 July 1, 1991 500,000 July 1, 2000* 500,000 July t ; 1992 500,000 July 1, 2001* * Optional in inverse order on or after July 1,1993 at 100.50% of the principal amount of bonds called for each year or fraction thereof between the redemption date and the stated maturity date but in no event shall the premium exceed 103%. LEGALITY TO BE APPROVED BY CHAPMAN AND CUTLER, ATTORNEYS, CHICAGO, ILLINOIS The State University of Iowa, located in Iowa C ity, was created February 25,1847, during the First General Assem bly of the State of Iowa and is the oldest in stitu tio n of higher learning in the State of Iowa. The University consists of ten colleges: Liberal A rts, Law, Medicine, Dentistry, Pharmacy, Business A dm inistration, Engineering, Nursing, Education, and the Graduate College. A major area of the University is its Health Center, including the Colleges of Medicine, Dentistry, Nursing, and Pharmacy, and the University H ospitals and C linics. The hospitals, which are prim arily teaching units, adm itted some 40,204 patients in 1979-80 and treated another 318,056 as outpatients. The Iowa Legislature has appropriated money to the State University of Iowa to begin planning fo r the replacement of the Old Armory and to develop the best solution fo r meeting the overcrowded conditions in the College of Law. The new Hawkeye Sports Arena is scheduled to be completed in 1982. The Arena w ill accommodate indoor intercollegiate sports and was financed by a com bination of student fees, State receipts and alumni donations. The University campus covers 1,880 acres and the Fall 1980 enrollm ent was 25,100 students. These bonds are issued pursuant to laws of the General Assem bly of the State of Iowa to provide fo r planning fo r new space; energy management, handicapped accessibility, and fire safety programs; and various u tility projects on the West Campus, including an addition to the Chilled Water Plant. In the opinion of counsel, these bonds are payable solely from gross student fees and charges collected and institutional income received by the State University of Iowa at Iowa City, Iowa, and are not obligations o f the State of Iowa nor payable in any way by taxation. GEN ERAL REVENUE STATEMENT 1979 1980 $272,750,784 $313,576,982 Total operating revenues 265,580,203 304,694,700 Total operating expenses $ 7,170,581 $ 8,882,282 Net operating revenues STUDENT FEES AVAILABLE FOR DEBT SERVICE AND COVERAGE Available student fees for fiscal year ended June 30,1980 - $22,253,916 Average Annual Debt Service ($1,559,315) Coverage - 14.27 X Maximum Annual Debt Service, 1984, ($2,521,438) Coverage-8.83X Estimated available student fees for fiscal year ended June 30,1981 - $23,281,218 Average Annual Debt Service ($1,559,315) Coverage -14.93 X Maximum Annual Debt Service, 1984, ($2,521,438) Coverage-9.23X 1978 $243,620,928 234,915,851 $ 8,705,077 The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not stilt be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 Carleton D. Beh Company Supplement to Northwestern Banker Newsletter 7-13-81 Division o f E.F. H u tto n & Com pany Inc. Investment Bankers/Financial Consultants PRELIMINARY CIRCULAR-NEW ISSUE SALE DATE: $5,315,000 STATE BOARD OF REGENTS OF THE STATE OF IOWA (University of Northern Iowa) Academic Building Revenue Bonds, Series U.N.1.1981 Dated: July 1,1981 July 13,1981 MOODY’S: S&P: Denomination: $5,000 Both principal and semiannual interest (January 1, and July 1, first coupon due on January 1,1982) payable at the Office of the Treasurer of the University of Northern Iowa, Cedar Falls, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXATION, IOWA INCOME TAXATION, AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. MATURITIES $250,000 July 1, 1984 $300,000 July 1, 1993 275,000 July 1, 1985 300,000 July 1, 1994* 290,000 July 1, 1986 300,000 July 1, 1995* 300,000 July 1, 1987 300,000 July 1, 1996* 300,000 July 1, 1988 300,000 July 1, 1997* 300,000 July 1, 1989 300,000 July 1, 1998* 300,000 July 1, 1990 300,000 July 1r 1999* 300,000 July 1, 1991 300,000 July 1, 2000* 300,000 July 1, 1992 300,000 July 1, 2001* * Optional in inverse order beginning July 1,1993, at par plus a premium of one-half of one percent (1/2%) of the principal amount of bonds called for each year or fraction thereof between thè redemption date and the stated maturity date but in no event shall the premium exceed 3%. LEGALITY TO BE APPROVED BY CHAPMAN AND CUTLER, ATTORNEYS, CHICAGO, ILLINOIS The University of Northern Iowa is situated in Cedar Falls (1980 population, 36,134) in northeastern Iowa immediately adjacent to the City of Waterloo. The university had its beginning in 1876. It was created by act of the Sixteenth Iowa General Assembly as an institu tio n devoted to the preparation of teachers and adm inistrative personnel fo r the elementary and secondary schools of the State, and was then known as the Iowa State Normal School. In 1909, it was put under the control of the State Board of Education and was renamed the Iowa State Teachers College, under w hich name it achieved a national reputation in the field of teacher education. In 1967, the name was changed to the University of Northern Iowa. The University is recognized as having a m ission of sufficient scope to enable it to be a distinguished arts and sciences university w ith an outstanding teacher education program. The University now offers courses covering a broad spectrum of the field of higher education including advanced degrees in many fields, such as the Doctor of Industrial Technology. The University has grown to a nationally recognized in stitu tio n having 53 principal buildings on a campus of 723.3 acres. The Fall 1980 enrollm ent was 11,020 students. These bonds are issued pursuant to laws of the General Assem bly of the State of Iowa to provide fo r the com pletion of a turbine generator, energy and fire safety programs, renovations on an academic building and various campus u tility projects. In the opinion of counsel, these bonds are payable solely from student fees and charges collected and in stitutional income received by the University of Northern Iowa at Cedar Falls, Iowa, and are not obligations of the State of Iowa nor payable in any way by taxation. GENERAL REVENUE STATEMENT 1980 1979 $48,476,861 $44,001,024 37,912,764 34,933,659 $10,564,097 $ 9,067,365 STUDENT FEES AVAILABLE FOR DEBT SERVICE AND COVERAGE Total Operating Income Total Operating Expenses Net Operating Revenue 1978 $40,610,979 32,664,698 $ 7,946,281 Available student fees for fiscal year ended June 30,1980-$6,901,671 Average Annual Debt Service ($1,371,779) Coverage-5.03 X Maximum Annual Debt Service, 1984, ($2,120,515) Coverage-3.25X Available student fees for fiscal year ended June 30,1981 -$7,395,000 Average Annual Debt Service ($1,371,779) Coverage - 5.39 X Maximum Annual Debt Service, 1984, ($2,120,515) Coverage-3.49X The information contained herein is not guaranteed, but is derived from sources we deem reiiable and is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not s till be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 Carleton D. Beh Company Supplement to Northwestern Banker Newsletter 7-13-81 Division o f E.F. H u tto n & Com pany Inc. Investment Bankers/Financial Consultants PRELIMINARY CIRCULAR - NEW ISSUE SALE DATE: $15,600,000 STATE BOARD OF REGENTS OF THE STATE OF IOWA July 13,1981 MOODY’S: S & P: (Iowa State University of Science and Technology) Academic Building Revenue Bonds, Series I.S.U. 1981 Dated: July 1,1981 Denomination: $5,000 Both principal and semiannual interest (January 1 and July 1, first coupon due on January 1,1982) payable at the Office of the Treasurer of Iowa State University of Science and Technology in the City of Ames, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXATION, IOWA INCOME TAXATION, AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. MATURITIES $800,000 July 1, 1984 $900,000 July 1, 1993 800,000 July 1, 1985 900,000 July 1, 1994* 800,000 July 1, 1986 900,000 July 1, 1995* 800,000 July 1, 1987 900,000 July 1, 1996* 850,000 July 1, 1988 900,000 July 1, 1997* 850,000 July 1, 1989 900,000 July 1, 1998* 850,000 July 1, 1990 900,000 July 1, 1999* 850,000 July 1, 1991 900,000 July 1, 2000* 900,000 July 1, 1992 900,000 July 1, 2001* * Optional in inverse order on or after July 1,1993 at 100.50% of the principal amount of bonds called for each year or fraction thereof between the redemption date and the stated maturity date but in no event shall the premium exceed 3%. LEGALITY TO BE APPROVED BY CHAPMAN AND CUTLER, ATTORNEYS CHICAGO, ILLINOIS The founding of the Iowa State University in 1858 was one of the earliest creations of the populist education movement in America. Seeking to satisfy the needs of the people, the college o rig in a lly emphasized agricultural and industrial education, as well as classical subjects. Eventually, the “ Iowa State College of A griculture and Mechanic A rts” established an international reputation in the areas of agriculture, veterinary medicine, home econom ics, and engineering. Iowa State University has expended its scope to include m ost of the traditional liberal arts. Presently, the largest enrollm ent is in the sciences and hum anities. The modern campus includes about 1,000 acres. Its central area is landscaped as a natural park. Cultural and social am enities traditional to university life have been enhanced by the Iowa State Center. This com plex of four buildings constructed between 1969 and 1975 w ith a cost of over $20 m illio n was financed entirely from gifts, grants and designated student fees, w ith o u t the use of State of Federal funds. Iowa State University has experienced steady enrollm ent increases over the past decade; overall enrollm ent has increased over 25% since 1971. The 1980 Fall enrollm ent was 24,268 students. These bonds are being issued pursuant to laws of the General Assem bly of the State of Iowa to provide funds fo ra library addition and equipm ent, renovations of academic buildings, energy and fire safety programs, and improvements to the heating plant and various other campus u tilitie s at the main campus of Iowa State University of Science and Technology in Ames, Iowa. In the opinion of counsel, these bonds are payable solely from student fees and charges collected and in stitutional income received by the Iowa State University of Science and Technology at Ames, Iowa, and are not obligations of the State of Iowa nor payable in any way by taxation. GENERAL REVENUESTATEMENT 1980 1979 $238,508,904 $211,759,721 237,347,740 208,292,375 $ 1,161,164 $ 3,467,346 STUDENT FEES AVAILABLE FOR DEBT SERVICE AND COVERAGE Available student fees for fiscal year ended June 30,1980 - $23,047,537 Average Annual Debt Service ($2,528,956) Coverage-9.12 X Maximum Annual Debt Service, 1984, ($3,869,510) Coverage-5.96 X Estimated available student fees for fiscal year ended June 30,1981 -$24,690,096 Average Annual Debt Service ($2,528,956) Coverage-9.77 X Maximum Annual Debt Service, 1984, ($3,869*510) Coverage-6.39X Total Operating Income Total Operating Expenses Net Operating Revenue 1978 $190,789,585 188,610,889 $ 2,178,696 The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not s till be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CALL ON THE “PERFORM ANCE TEA M ” where comm on transactions are handled uncomm only well. FI RST N A T IO N A L U N C O LN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. has promoted George H. Wanitschke to chairman and Stephen M. Beachler to president. Mr. Wanitschke has been president the past 11 years. Mr. Beachler has been with First National Bank in Grand Island the past 18 years, most recently as vice president. department. Succeeding him as manager of the investments division at U.S. National will be Robert E. Billmeyer, second vice president. South Dakota News MINDEN: Dale Wells, 69, president and chairman of the First National Bank for the past 13 years, died recently. MADISON: Gary L. Wickre has joined the Madison branch of the National Bank of South Dakota as vice president and managing officer. He was previously vice president of First Bank Wahpeton, N.D. OM AH A: John Reinhart has joined the Southwest Bank as senior vice president and trust officer. He was previously president of the First National Bank of Bellevue. North Dakota News OM AHA: Lee Bachand, vice presi dent, United States National Bank, has been named manager of the correspondent banking department. He succeeds Larry Hansen, vice president, who is transferring to the parent company, Northwest Bancorporation, where he will work in the banking division with responsibility for banks in southwestern Minne sota. Mr. Hansen will take up his new duties full-time next month. Mr. Bachand has been serving in the correspondent division. John McCune, vice president-manager of U.S. National’s investments divi sion, also is transferring to the affiliated Northwestern National Bank in Minneapolis, where he will be vice president-marketing in the bond W ILLISTON: Duane W . Sorensen has been elected president of First National Bank & Trust Co. He succeeds Wallace L. Herreid, who has retired. Mr. Sorenson was most recently president, director and chief executive officer of the First State Bank of New Brighton, Minn. Mr. Herreid served as president and trust officer since 1975. Wyoming News JACKSON: W. Richard Scarlett III, a Colorado banker, has purchased 82 percent of Jackson State Bank’s common stock. The sale is subject to regulatory approval. The bank’s board appointed Mr. Scarlett execu tive vice president, chief executive officer and a director. Felix Buchenroth, whose father founded the bank, confirmed that Mr. Scarlett has bought out the Buchenroth family holdings. Auburn Dowdy, president of First Bankshares of Wyoming, had recently announced that plans to merge Jackson State Bank into First Bankshares through a stock trade had been dropped. Mr. Buchenroth will remain at Jackson State as president and board chairman. Mr. Scarlett was previously president of Cherry Creek National Bank in Denver. GET THE COMPETITIVE EDGE over savings and loan, credit unions, etc. This “ on-premise” system gives you complete inde pendence, competitive flex ibility and control. Thinking about selling your bank? Consult with Homer Jensen or Dick Buenneke cdfotdsx and c^~±i.oaLat£.± Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 D onald E. H older , Principal Over 50 years’ banking experience No fee to seller 241 Insurance Exchange Bldg. Des Moines, Iowa50309 Phone: 515-243-7434 W e’re people you can turn to for investments. For investment services, data processing, ag lending and overlines . . . we’ re the people you can turn to. We’re more than western Iowa’s largest bank. We’re people. Jim H ongslo W e President SECURITY N A TIO N A L B A N K IN SIOUX CITY, IOWA. f ig * M odern B anking System s, Inc. 712/277-6625 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Get tighter instantaneous reporting in every phase of yo u r o p e ra tio n . A t the sam e tim e reduce yo u r operating costs. A program for your every need — and m ore. The best banking system in the industry. M EM BER F .D .I.C . © 1980 Security National Bank 6818 Grover St., Omaha, Nebraska 68106 (402) 392-0151 4 — WANT ADS — SERVING PROFESSIONALLY Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. Banking, Financial & Business Personnel Iowa and Nationwide P A R T IA L LIST OF A V A IL A B L E POSITIONS POSITIONS W A N T E D VP LENDING-Dairya + + ............................. $28,000 AG LENDER - 2 yrs e xp ..................................... $23,000 INSTALLMENT LOAN - BA, 2 yrs Cons Loans. $18.000 AG LENDER - Ins license a m u s t......................$20,000 COMMERCIAL LENDER - 3 yrs e x p ................$23,000 RE LOAN OFFICER-2 + yrs e x p ....................$19,000 OPERATIONS -1 -2 yrs exp . . . ......................$15,000 #2 POSITION - Ag Business b k g d ....................$27,000 TRUST - ERISA exp a m u st............................... $24,000 CEO - Mortgage b a n k in g ................................. $60,000 Loan Officer with four years exp. and grad, of Univ. of Nebr. wants new challenge in Eastern Nebraska ...........................................................................$24,000 P A R T IA L LIST OF A V A IL A B L E AP P LIC A N TS WANT TO BUY Commercial Loan Officers with 3 to 20 years experience seek new op portunities............$20,000 up BANKS WANTED - Financially secure Iowa fam ily wants to purchase a bank. Would be agreeable to terms or contract. Reply in strict confidence. W rite file NBU, c /o Northwestern Banker._____________ (WTB) Ag Loan Officer seeks Illinois po sitio n.............$20,000 LOAN OFFICER-Wei I versed in Instal, R E, Commc’l. ...........................................................................$18,000 BRANCH MGR - BA, 1 Vz yrs S & L exp............. $15,000 #2 MAN -8 yrs banking exp............................... $28,000 VP CASHIER -14 yrs heavy operations........... $23,000 AG LENDER - Ag Bus Degree, 3 1/z yrs exp . . . . $19,000 VP COMMERCIAL LOANS - 5 + yrs e x p ......... $32,000 Northwestern Banker 306-15th Street Des Moines, Iowa 50309 FOR SALE OR LEASE PERMANENT OR TEMPORARY - Sale or lease financial facilities. Available Immediately: 14’x60’ in Nebraska, 14’x50’ with 2 DUWs in Illinois and in Missouri, and 12’x50’ in Minnesota. Phone SON CORPORATION, Box 684, Wichita, KS 67201, (316) 942-8167, call collect.____________________ (FSorL) POSITIONS A V A IL A B L E Trust Off icer for major N.E. Iowa bank .. .Salary open Ag Lender for Southern Illinois b a n k ..............$18,000 CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 Office Manager with well rounded operations experience seeks new opportunity in Io w a ... .$23,000 Operations Officer with solid experience seeks new op p o rtu n ity........................................................$24,000 Ag Loan Officer with insurance and real estate licen ses seeks new job in north central Io w a ... .$25,000 up If your bank needs a qualified officer, we have many more applicants in a wide range of experience. Call: Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. Phone (515) 282-6462. Employer pays fee. FOR SALE Operations Officer for southern Iowa bank .. .$17,000 Ag Loan Officer for western N. Dakota b a n k ... .Salary open CEO fo r$10 m illion western Illinois bank........$26,000 Ag Loan Officer for Indiana bank. Fine opportunity ...................................................................... $23,000 up Second Person for large central Illinois b a n k .. .Salary open Operations Officer for Wyoming b a n k ... .Salary open Write or phone Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. Phone (515) 282-6462. Employer pays fee._______ ______________________________ OFFICER MANAGER in Iowa City Area. Three to five years operations and lending experience preferred. Should be marketing oriented. All inquiries kept confidential. Send resume and salary requirements to John W. Brown, Executive Vice President, uniBank & Trust, P.O. B ox5842, Coralville, lowa52241. (PA) EMPLOYMENT OPPORTUNITY - CEO for Northeast Nebraska Bank under $5 million. Must also be qualified in all areas of insurance and capable of managing and selling. Send resume and compensa tion requirements to file NBN, c /0 Northwestern Banker._____________________ (PA) SECOND PERSON: $10 million bank. Duties: operations, loans, & business development. Growth position. Prefer 3-5 yrs. experience. Many benefits. Contact John Gregg, Community Bank of Galesburg, 1380N. Henderson, Galesburg, IL.61401.______ (PA) CASHIER to cover entire operations department of $30 m illion plus bank. Auditing experience helpful to expand on current internal audit program. Northwest Montana location. Please send resume, with references to file NBT, Northwestern Banker, 30615th Street, Des Moines, Iowa 50309. All resumes w ill be kept strictly confidential.____________________ (PA) OPENING FOR#2 OFFICER in $35 m illion bank in the Black H ills area of northeastern Wyoming. Position will include responsibilities in lending, management, and financial planning. Excellent benefits and salary commensurate with experience. Degree preferred. Send resume and salary requirements to: Donald J. Jording, President, First State Bank of Newcastle, Newcastle, Wyoming 82701 or phone 307-746-4411. Bank Division ROBERT HALF Loan Officer with insurance and real estate licenses wants to relocate near Des M o in e s...................$28,000 Second Person forS.E. Iowa b a n k ..................$25,000 Ag Lender for major N.W. Iowa b a n k ..............$22,000 Second Person for N.W. Iowa bank................. $25,000 ALL FEES COMPANY PAID. FOR FURTHER INFORMATION RESPOND IN CONFIDENCES): Fed Land Bank Officer wants to join midwest bank .................................................................... Salary open Burroughs S-100 single pocket proof machine. Like new. W ill make excellent back-up machine. Ask for Marv or Arvon. Farmers Bank, Nebraska City, NE, phone (402) 873-5574._______________________ (FS) $14 million Southwestern Minnesota bank. 90% stock, 100% agency, very clean, best area. Write File NBS c /o Northwestern Banker._______________ (FS) 6 used teller windows; 1 used Herring-Hall-Marvin steel safe with 3 time locks; 1 portable teller. Contact Iowa State Savings Bank, Creston, Iowa 50801. Phone (515)782-6441._____________________________ (FS) Burroughs Model L8500 computer with reader stacker and auto ledger reader, A9161. Contact Thomas R. Cronin, First Nashua State Bank. Phone (515) 435-4171.________ (FS) Burroughs S-1000 12 pocket proof machine. Purchased new 1978. $5,500.00. Towner County State Bank, Cando, North Dakota. Phone701-968-4421 .(FS) ^ g Banking Specialists •■•í'inir'c -m eo When it comet to agriculture, banking and personnel. . . go to the specialists — go to AGRicareers, Inc. Progressive bankers pay us to find the people they need. Retail Finance Rep . . . IA /N E . $20-22,000 2 Ag Lending O ffic e rs .. . . ND. $20-24,000 Ag Loan Off icer/ Insurance IA . $15-20,000 Professional Farm Mgrs. ( 2 ) ........IA & IL . ................................................. $20-25,000 Ag Lending O ffic e r..........N E . $15-16,000 Sales & Mktg. Rep............N Y . $20-25,000 Ask the ag banking specialists what’s available without cost or obligation. N E W H A M PT O N . IA 50659 M A S S E N Á . IA 50853 I (515) 394-3145 (712) 779-3744 North Carolina Locating & Recovery Service Statewide— Since 1922 HOME DETECTIVE COMPANY, INC. Administrative Offices • 110 South Walnut Circle • Greensboro, NC 27409 Field Divisions: Asheville*Charlotte* Durham* Raleigh*Fayetteville*Jacksonvilie*Rocky Mount*TaborCity [919] 299-1641 Bonded • Dependable 59th Year Licensed • Trustworthy ® of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 A L L FEE S C O M P A N Y PAID I □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. Please Contact: J. Mason Henry ■ Charles E. Walters Co., Inc. 39 Ginger Woods Road, Valley, Nebraska 68064 Phone: (402) 553-6400 | B A N K IN G P LA CE M EN TS “ Successful Banking is Quality Personnel” Eighteen years banking experience serving as president of rural and metropolitan banks enables me to find the “ right” banking position for you as a banker or the “ right” officer for your bank. DON-S C H O O LE R lr? A N D q E W ) A SSO CIATES 901 A. West Jackson* Ozark, Missouri 65721 417/485-6020 COMPLETELY CONFIDENTIAL ____________ “ Employment Service"____________ PO SITION S A V A IL A B L E TRUST INVESTMENT - manage pension fund investments for large midwestern trust company. Bank or insurance company experience preferred. CFA designation helpful. $30,000 AGRILOAN - $40MM bank heavy in cattle and feeder lot financing. Prefer5 yrs. or more experience.$28,000 OPERATIONS - medium size rural bank needs seasoned operations officer. Prefer accounting degree and some data processing background. $30,000 SENIOR COMM’L LOAN - manage portfolio for $60MMag/commercial bank. Good administrator will move into EVP position in short time. $$Open CASHIER-second position in$20MM suburban bank. Prefer generalist from small bank although primary responsibilities w ill be operations and reports.$22,000 TRUST OFFICER - position requires employee benefit experience. Excellent opportunity fo r individual with 2-4 yrs. experience. $23,000 SECOND OFFICER - small community bank In resort area seeks commercial lender with good administra tive skills. $23,000 Salary history and resume’ requested. All inquiries confidential. TO M H A G A N & A S SO C IA T E S of Kansas City P.O. Box 12346, 2024Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry S in c e l970” Voi. 10 No. 12 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address ail 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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