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• Vol. 16 No. 13 July 13,1987 Des Moines, Iowa FD IC Director C.C. Hope Issues Warning to Banks: • Be Alert to “ Back Door’’ Attempts to Merge FDIC/FSLIC Ed. Note: In his recent address to quarter, the fund stood at $18.5 bil the Wyom ing Bankers Association, lion, a modest increase of $271 mil lion from the year-end 1986 figure. F D IC Director Our view is that the fund is strong C.C. Hope, Jr., and quite capable of withstanding commented on the pressures it faces from problems the FSLIC re among FDIC-insured institutions. c a p ita liz a tio n But, as healthy s&l’s are accepted b ill th a t has into the system they lower the ratio been before the of the fund to insured deposits. As S e n a te -H o u s e our chairman has pointed out, cover conference com ing s&l’s are “ brides that bring no m itte e . M r. dowry.” Thus, even though the Hope, president C.C. HOPE healthier s&l’s may in insurable of the American Bankers Association in 1979-80 and risks, over the short term they now retired vice chairman of First further stretch the F D IC ’s reserves. Union National Corp., Charlotte, Second, there is a question as to N.C., reviewed the deep problems how the FSLIC can be expected to the FSLIC has currently with so borrow $5-$7.5 billion if the healthy many of its member s&ls, and stated s&l’s are leaving the system. Would it would more likely take $50 billion you lend them the money? I f the to bail out that industry than the $5 FSLIC can raise the funds, its inter billion rescue proposed by Congress. est costs are likely to be exorbitant. He noted some healthy s&ls have This suggests that it will not be long applied for FD IC coverage and said before the issue is before Congress if they meet FD IC entry standards, again, and no closer to any final “ we must accept them.” He then of resolution. fered the following comments and When Congress addresses the caution. issue for the second time, it w ill be * * * faced with two general alternatives. The first is a taxpayer bailout; the H IS reuses some serious con second is a merger of the funds. A taxpayer bailout raises obvious poli cerns. First, there is the condition of the tical problem s. The A m erican F D IC ’s fund. A t the end of the first Banker published a survey several T FirsTier. Correspondent Services Ip ll weeks ago. One of the questions asked was how the FSLIC should be bailed out. Thirty-nine percent of the public either was unaware of the problem or not sure of the solution; only three percent believed taxpayer dollars should be used to bail out the industry; 24 'percent thought the in dustry ought to bail itself out, and 34 percent thought the FD IC ought to bail them out. You know as well as I do that the FD IC does not have the responsibili ty or the resources to bail out the s&l industry. Nevertheless, we all know it may be a tempting solution from a politician’s viewpoint. What needs to be made clear to Congress is that a merger of the funds is not a solution to the s&l in dustry’s financial problems. I f the industry is incapable of raising the money on its own, the only solution, as unpalatable as it may seem, is an infusion of taxpayer dollars. A ll of you should be aware that the “ merger-of-the-funds” issue is BE A L E R T ... (Turn to page 5, please) A brief resume of the deci sions made by the SenateHouse conference com mittee appears on page 4. More o f what it takes to serve you wen. Banks Lincoln • Omaha FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 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. John Rigler Jay Nichols Iowa News tion group of Norwest Bank Neb raska, N .A . From 1964 to 1986 he held various positions at the Nor west Bank in Hastings. He then transferred to Omaha and became manager of the administrative ser vices department. Mr. Zaback’s new responsibilities include supervising nine staff members responsible for correspondent banking for Norwest Bank Omaha throughout Nebraska, Iowa and four other midwestem states. DES M O IN ES: Keith J. Gredys has been elected vice president and se nior trust officer at Hawkeye Bank & Trust of Des Moines. He w ill man age the trust department of that bank and also the Newton trust de partment and several others within the Hawkeye Bancorporation sys tem, as well as be a member of the bank’s senior management group. Mr. Gredys most recently was vice president and trust officer for Jasper County Savings Bank in W A U N E T A : Bud H efley has been Newton. promoted to vice president at Wauneta Falls Bank. He has been serv Nebraska News ing the bank as agricultural loan of O M AH A: Robert Zaback has been ficer. promoted to senior vice president and manager of the financial instituMinnesota News The First Banks Rostrum '87 will be held on July 15 at the Minneapo lis M arriott C ity Center Hotel. Guest speaker w ill be international economist Robert A. Mundell. The luncheon will be held from 11:30 to 1:30. For more information contact Debbie Musser at 370-4200. MNB Correspondent Banker Together We Can Accomplish Great Things about $10.7 million and has agreed to pay the FD IC a purchase pre mium of $38,000. It will also pur chase certain of the failed bank’s loans and other assets for $7.3 mil lion. The FD IC w ill advance about $3.4 million to the assuming bank and will retain assets of the failed bank with a book value of about $3.7 million. M IN N E A P O L IS : First Bank Sys tem has announced several staff changes. P. Gregory Peterka has been elected president of First Bank Hopkins, Hopkins. He succeeds John E. Raymond, who has been elected chairman of the board of the bank and continues to head the sales finance division for the metropolitan First Banks. Mr. Peterka most re cently served as president of First Bank Burnsville in Burnsville. His successor there is James E. Camp bell, who most recently served as vice president and commercial bank ing manager at First Bank Hopkins. M IN N E A P O L IS : Resource Bank & Trust has announced the appoint ment of Kevin J. Dyrhaug to vice president of sales. Before joining the bank, he was a vice president and stockholder of Adm inistrative Re sources, Inc., a Minneapolis-based financial services firm. Illinois News CHICAGO: Roger W. K eiffer has been promoted to vice president of loan administration at W .N. Lane Interfinancial. He joined Lane in January after serving as senior vice president and senior lending officer LANESBO RO : The FD IC has ap at Pioneer Bank & Trust Company. proved the assumption of the de posit liabilities of Lanesboro State E L K GROVE: James P. Trunck has Bank by The Goodhue County Na been promoted to president of A ve tional Bank of Red Wing. The nue Bank of Elk Grove. He previous Lanesboro bank was closed on June ly served as vice president of strate 26 and reopened on June 29 as a gic planning at the bank’s parent branch of the Red W ing bank. company, First Colonial Bankshares Lanesboro State Bank had total as Corporation. He is presently a direc sets of $11.0 million. The Goodhue tor of Northlake Bank and Avenue County National Bank w ill assume Bank of Elk Grove. For Professional Correspondent Service Call 1-800-622-7262 Call 319-398-4204 or toll free 1-800-332-5991 Strength Eastern |owa Merchants National Bank Si https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cedar Rapids. Iowa 52401 Member F 0 1C A BANKS OF IOWA BANK ThereJs A Difference In Banks... Valley National Bank là Main Office - Sixth and Walnut DES MOINES, IOWA 50304 A BANKS OF IOWA BANK Member FDIC h á JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President # Bond portfolios . working at full power. The performance of your bank’s bond portfolio is based on sound thinking and quality investments. Investments that will consistently work at full power to contribute to the earnings of your bank. Bond portfolio recommendations have been our specialty since the 1920s, and our track record is enviable. Although investment vehicles and markets have changed, we’ve maintained our high standards. The result is success for our customers and a reputation that precedes us. For confidential consultation about the benefits of investment banking at United Missouri, call (314) 621-1000. • UNITED MISSOURI BANK of Kansas City, n.a. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.O. Box 419266 Kansas City, Missouri 64141-9946 SERVING THE UPPER MIDWEST .RECRUITERS, INC. Diane Evans 1102 Grand Avenue, Kansas City, M O 64106 $16/842-3860 Conference Committee Retains Titles I and II HE Senate-House Conference Committee concluded its bank ing bill discussions prior to the July 4 holiday by closing the non-bank bank loophole (Title I), retaining the Senate’s T itle I I that places a mora torium on new banking services un til March 1, 1988, providing an $8.5 billion rescue plan to the FSLIC, and adopting a funds availability schedule. The conference results must go through the House since that body’s original bill offered only a recapitali zation of FSLIC ($5 billion) and did not take up any other banking legis lation. The Senate also must ap prove the report. Reaction to closing of the loop hole, as expected, was mixed. Large banks and non-bank corporations who had taken advantage of the loophole didn’t like the conference action and are expected to fight it in the House. Smaller banks applauded the loophole closing. Both A B A and T “THE RIGHT FIT” Banking Placement Specialist For Your Staff: □ Top Professional Bankers who are confidentially screened to find “The Right Fit” □ We recruit nationally through our over 200 independent affiliates as well as locally for our clients □ Contingency or Retainer Fee arrange ments □ Contact Sue Lundquist or Mel Hansen, CPC Banking Specialists g g g ll -■■■■■■ ELLS Ells Personnel Systems 1129 Plymouth Building Minneapolis, MN 55402 612-333-1131 CELEBRATING OUR 75th ANNIVERSARY BY SERVING OUR BANKING CLIENTS WELLI https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IB A A lobbied for retention of Titles I and II. Estate Appraisals Title I language as adopted by the Senate was basically approved by Purchase of the conference committee. It prohi Collections bits formation of non-bank banks as of March 6, 1987, and grandfathers Sale o f Rare Coins all those in existence up to that date. Reliable and respected service The existing non-bank banks may fo r o v er 20 years not cross-market products and ser Used b y bankers vices with affiliates differently than throughout the m idw est what is allowed to bank holding companies. They may not permit daylight overdrafts. However, the section lim iting their growth to no more than 7% of their size per year 913 Locust does not take effect for one year, giv Des Moines, Iow a 50309 ing present non-bank banks a full 515-243-8064 year to pump up the sizes of their in stitutions. Title I I imposes a moratorium un North Dakota News til March 1, 1988, on expansion for N E W TOW N: Lakeside State Bank any new bank services. Banking lob has announced these promotions: bies were unable to incorporate Zinie Peterson to executive vice securities services, or to eliminate president, Marlene Pennington to any part of this moratorium, which senior vice president and Lonny permits banking competitors, mean Hagen to vice president. They have while, to continue innovative ser been with the bank since 1968, 1963 vices denied to banks. The only and 1984, respectively. thing the conferees agreed upon was that the moratorium would not ex tend beyond March 1, 1988, and South Dakota News that action would be taken by com prehensive review of current bank PRESHO: The South Dakota D ivi ing laws to see what expanded sion of Banking and Finance has powers, if any, should be allowed to issued a Certificate of Authority to operate a State Chartered Bank to banks. The F S L IC recapitalization , Draper State Bank. The bank has which started at $15 billion in the moved its charter from Draper to Senate’s earlier discussions, and at Presho, and will continue to operate $5 billion in the House, was compro as a branch at the Draper location. mised at $8.5 billion over a two-year The only change in ownership is the addition of Steve Hayes, son of bank period. Also included in the conferees’ president G.K. Hayes, as a stock agreement was adoption of a plan holder. that will allow banks to write off qualified loan losses over a period of seven years. The Senate version had On July 23, Colorado National specified 10 years. The bill defines Bank of Denver w ill offer a forum an ag bank as one of $100 million or entitled “ Bank Portfolios: Mutual less in assets, with at least 25% of its portfolio in ag loans, and a per We Can Help With centage of ag loans no lower than it Your Employment Needs! had at the beginning of 1986. The funds availability title of the Senate-passed bill would take effect in three years. It mandates that cus Specialists in tomers have access to funds after Bank Recruiting one intervening business day for and Consulting local checks and three intervening Since 1971 business days for non-local checks. David L. Hansen, CCP There is a two and six intervening days schedule that w ill cut in after one year before the shorter schedule becomes effective in three years. A d ditional time can be requested on 100 Court Ave., Suite 306 funds availability for remote areas. □es Moines, Iowa 50309 Ben E. Marlenee Coins HAMILTON ASSOCIATES □ 515/282-0221 ^ # ^ ^ IOWA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM! CALL OR WRITE IOWA BANKERS INSURANCE AND SERVICES, INC. 104 EAST LOCUST STREET DES MOINES, IOWA 50308 1-800-532-1423 or (515) 286-4344 KANSAS BANKERS SURETY COMPANY • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.O. BOX 1654 TOPEKA, KANSAS 66601 (913) 234-2631 SOUTH DAKOTA BA NKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? Are you FORCED to write one type of insurance with a company at a higher premium, just so they will write another type of policy for you? IF SO... PLEASE CONSIDER THIS We have been solving Bankers bonding problems for over 75 years .. AND AT THE LOWEST POSSIBLE PREMIUM CALL OR WRITE KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 TOPEKA, KANSAS 66601 (913) 234-2631 S https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis K R V 1 C E OWNED BY BANKERS SERVING BANKERS ' Funds and Investment Alterna tives.” It will be held at the bank at 0 7 th and Champa, with registration at 1:30 and the seminar from 2:00 to 4:00. A cocktail reception w ill fol low. Register by July 17 with Hazel Peats at (303) 893-1862. % L E N D A L E : The FD IC has ap proved the assumption of the de posit liabilities of South Denver Na tional Bank, Glendale, by First Naional Bank of Southeast Denver, )enver. The Glendale bank, with as sets of $54.4 million, was closed on June 25, and its two offices reopened on June 26 as offices of the First Na tio n a l Bank of Southeast Denver. The Denver bank w ill assume about $47.7 million and has agreed to pay the FD IC a purchase premium of $1,555,100. It also w ill purchase cer ta in of the failed bank’s loans and other assets for $32 million. The FD IC will advance abut $20.7 million to the assuming bank and will retain assets of the failed bank pyith a book value about $22.4 million. 4 tion had offered to acquire The Ma rine Corporation for $62.50 in cash and/ or M & I common stock. The transaction w ill be structured as a combination of equals. The proposal is subject to a due diligence investi gation by M & I, the execution of a definitive agreement, and regula tory approvals. The companies are the second and third largest ini the state, respectively. M IL W A U K E E : First Wisconsin Corporation has acquired its third Illinois bank holding company, North Shore Bancorp of North brook. It is holding company for the $38 million Bank of the North Shore. BE A L E R T ... (Continued from page 1) not some way-down-the-road con cern that does not require immedi ate attention. As events are pro ceeding, it is nearly inevitable that the question w ill be placed before Congress in the not-too-distant fu ture. In fact, there has already been a merger proposal before Congress. In April, an amendment to exist Wisconsin News ing legislation in the House of Repre M i l w a u k e e : j .A . Puelicher, sentatives would have permitted chairman and CEO, announced June Federal savings banks to obtain 29 that Marshall & Ilsley Corpora FD IC insurance and remain under IOWA INDEPENDENT IBANKERS 16th Annual Convention July 23-25, 1987 Lake O m Irvine H. Sprague the supervision of the Federal Home Loan Bank Board. This means they would be able to follow the same pro visions of the Federal Home Loan Bank Board with respect to capital, to forbearance, and to examination. M oreover, since Federal s& l’ s already can become Federal savings banks, the door would be wide open to those institutions that wished to obtain FD IC insurance. This would have been the worst of all worlds. The FD IC would be exposed to the risks of these institutions but would have no ability to control them. It is interesting to note that the FD IC has received inquiries from over 100 s&l’s, including many of the largest in the country, regarding the possi bility of obtaining FD IC insurance. When the implications of the House amendment became clear, we were able to get it dropped. Never theless, it is indicative of the im mediacy of the problem. You must remain alert to continued attempts to create a “ back-door” merger. Such attempts are as likely to occur at the state level as at the federal level. Several states have attempted to move legislation similar to that which I just described. The banking industry has a large stake in how the s&l industry’s crisis is eventually resolved. □ Jim Leach m fi( H p 4 fe r n Fred Grandy )ohn McLaughlin ‘ Thomas H. Olson These Banking & Congressional Authorities Will Meet With You in Okoboji: Irvine H. Sprague,/Former FDIC Chairman and author o f Bailout The Hon . Jim Leach, House of Representatives,. First. District of Iowa , The Hon. Fred Qrandy, House of Representatives, Sixth District o f Iowa )ohn McLaughlin, Creator, Producer and Host of "The McLaughlin Group" Thomas H. Olson, President, Independent Bankers Association of America M jU M iM w M i . r ' 11 -H ill liiMfB ¡IBM | IBfillll H https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J 5 6 POSITION AVAILABLE $53MM independent bank located near metro area seeks AG-COMM’L LENDER. Excellent opportunity to advance. Send resume to File No. WJP c/o Northwestern Banker. (PA) FOR SALE 12 SECURITY CAMERAS for sale. In good condition. Contact Jerry Burger @ (515) 245-5608 if Interested. (FS) ONE n c r j 271 PROCESSOR and 28-956 Disk Packs. Contact Ron Warford or AI Eygabroad, First Trust & Savings Bank. Armstrong, Iowa 50514. Phone (712) 864-3250. (FS' Serving bankers quietly and efficiently. FOR SALE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 RETAIL BANKER Challenging opportunity to provide full range of bank ing services to individual customers. Require three to five years experience in lending and collections. Ex cellent fringe benefits, salary commensurate with ex perience. Send resume and salary history to: Personnel Officer Peoples Bank & Trust Company 101 Third Ave. S.W. 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MTGE LOAN HEAD Lgr finc’l institution run successful dept. Must have 5 + yrs exp & degree. $46K. COMM’L LENDER Fast growing community bank has top quality opening for 2 yrcomm'l lender. $31K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS ® R O B E R T M ffVLF 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID COMMERCIAL LOAN—Prefer large bank training and ex perience for a $40mm commercial department. To $38,000 AG LOAN OFFICER—Good opportunity for a Jr. Officer to improve career path...........................................To $23,000 Financial Careers, Inc. Two Ruan Center/Suite 1000, Des Moines, IA 50309 515/245-3786 # Employer pays fee. Please contact Lorraine Lear or Malcolm Freeland con cerning these and other Midwest banking opportunities. POSITIONS AVAILABLE MORTGAGE LENDER JR. REAL ESTATE LENDER—Top rated group is looking for a sharp, aggressive professional with 2 years experi ence and desire to move up............................... 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Are you ready for greater responsibilities? A hard hitter with 3 + yrs ag lending exp is needed to m a n -£ age the ag dept of a $20mm bank. This bank is located just 45 min. from the Twin Cities and is part of a top performing bank holding company. Will lead to Senior Mgmt position. To$24K. Job #NW1914. FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR JEAN TODD £ A N D lstO W ASSOCIATES "Successful Banking is Quality Personnel" POSITIONS AVAILABLE VICE PRES. COMMERCIAL REAL ESTATE, 90,000,000 metro bank. 10 or more yrs. experience, Degreed. Technical expertise in analyzing, nego tiating, documenting, perfecting, and dispensing Background in multi-family, construction, shop ping centers, strip centers, and subdivision .. .$45-55,000 S&K options, ESOP, 401K, medical COMMERCIAL HEAD, 100,000,000 + metro. De greed (major univ and top honors a plus.) Forward looking strong growth organization. Must want higher management position. Social and civic background must be strong. Likes business devel opment. Trains lenders.......................................... .......................... $50-55,000 + excellent benefits. V.P. & LOCATION MGR., #1 rated bank, strong re spected organization. 80,000,000. Likes small towns. Dislikes poor credits. Good with new busi ness contacts. Likes teamwork concepts............. .............$35,000 top benefits, good future growth. PRESIDENT, 40,000,000 independent. Degreed. Complete & solid track performance in past. Small town lender in community projects. Solid relationship with regulators.................$50-55,000. SVP #2 OFFICER, 75mm+ . Degreed. Solid bank ing school. Hands on operations and accounting expertise. Solid community leader. A/L mngmnt, long range planning, cost control, budgeting, in vesting. Tandem leader with bank president......... ............. $45-50,000 excellent retirement benefits, strong town. DON W. 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T O M H A G A N & A S S O C IA T E S 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 16 No. 13 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden Digitized forSt., FRASER #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis £
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