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Vol. 15 No. 13 Des Moines, Iowa July 14,1986 FDIC Uses New Approach in Iowa P&A CSBS Audit Conference The banking departm ents of UNIQUE approach to assist a ber of loans FDIC could pass along, North Dakota, Minnesota, Montana new bank that is purchasing a so the new note option idea was pre and South Dakota, in conjunction failed institution was used for the sented to the buyers. U sing this with the Conference of State Bank first time by FDIC on June 27 in the method, FDIC retained all loans, Supervisors (CSBS) will present a takeover of a failed Iowa bank. As then gave the new Citizens State computer audit and control confer reported in the Weekly New sletter Bank a one year note for $33 million ence for bankers Aug. 18-21 at the last week, the Commercial State bearing 7.5% interest. In this way, Minneapolis Marriott Hotel, Bloom Bank of Pocahontas, la., was de the new bank immediately gained ington. It is designed to provide clared insolvent on that date. Carroll earning assets to give it income. It bankers with the knowledge they County Bancshares, Inc., which may draw down on the note at any need to effectively manage, audit owns the $60 million asset Carroll tim e in increments of $1 million or and control their bank’s electronic County State Bank in Carroll, paid more, and the note terminates and data processing function. an $11,000 premium to the FDIC to becomes payable to the bank in one take over the approximately $42 year. This gives the new bank the Iowa News million in deposits by the newly- option of drawing down on the note The Iowa Bankers Association to meet local loan demand as it de formed Citizens State Bank. Under its usual procedure in such velops, or to purchase any loans it has re-scheduled its semi-annual Bank Directors Seminar to next De cases, FDIC would have injected wishes to take from FDIC. FDIC is adding a further option cember 4 at Holiday Inn Gateway in cash into the new bank equivalent to the assets withheld by FDIC. This to its handling of failed banks. A Ames. The seminar had been sche generally has been a major share of bank purchasing a failed institution duled originally for July 22-24 in the loan portfolio, consisting of bad may purchase whatever substan Storm Lake, Des Moines and Cedar loans that got the failed bank in dard loans it selects at 90% of their Rapids. trouble. This injection of cash and loan value. The FDIC official stated BRITT: Phillip D. Kennedy has other assets was enough to equal the that if the purchasing bank feels been elected president of First State total liabilities assumed. In many in that discounting the loan by 10% Bank of Britt. He has nine years of stances, in today’s midwest eco will make it a workable loan, then it banking experience, joining the nomy, this has meant the new bank can be incorporated into the pur bank after serving as senior vice has a large amount of cash, limited chasing bank’s portfolio. If a bank president of the First Interstate loan demand, and much lower rates should buy all the substandard Bank of Esterville. today for return on Fed Funds, T- loans from the FDIC, the discount drops the price to 85% of value. He DES MOINES: Sharon C. Johnson Bills or other investm ents. In the Pocahontas failure, an said it was too early to determine if has been elected vice president, FDIC official explained, Commercial this approach has enough interest to human resources and Darrell E. State Bank had only a limited num buyers. □ Hughes, vice president, commercial A 1 J M l I W f m IliP ASK DICK RETZ to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank i: i M em b er F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOW A' BANK Norwest Bank Des Moines, N.A. NORWESr BANKS Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC M A N A G E M E N T . I N C . Consultant to Bankers • Loan Review and Credit Adm inistration Teamwork: one of the reasons we’re first in Iowa. • Profit Planning Lowell Barkley loans at Hawkeye Bank. Ms. John son m ost recently served as employ ment supervisor for Employers Mu tual Companies. Mr. Hughes joins the bank from First Interstate Bank of Urbandale where he was assistant vice president. moved from Corydon where he was vice president and cashier of Citi zens State Bank. He worked at the Corydon Bank since 1973 and prior to that was with Bankers Trust Company, Des Moines. Nebraska News The petition drive calling for a re peal of Initiative 300 and placing it on the ballot in November has failed, falling short of the 54,000 signa tures needed. It was reported in the July 7 N o r t h w e st e r n B a n k e r N ew sletter that the Nebraska Su IOWA CITY: Duane L. Swartzendruber has joined First National preme Court had ruled that Initia Bank as second vice president. He tive 300 was not unconstitutional. previously was manager of the Iowa OMAHA: David C. Koenigsman City office of MidAmerica Savings and John R. Miller have been ap Bank. pointed presidents of Norwest Bank Nebraska, N.A. Mr. Koenigsman WEST BURLINGTON: Raymond will manage the bank location at D. Hartley has been elected vice 24th and L in addition to the Live president and CEO at W est Bur stock Exchange and 45th and lington Savings Bank. He has Center Street. Mr. Miller will manDUBUQUE: James T. Hamilton II has been named executive vice presi dent and operations officer of Amer ican Trust & Savings Bank. He was executive vice president, Union Na tional Bank, Wichita, Kan. t's easier C all 1-800-362-1688 or 515/245-2424. Bankers Trust Des Moines, IA Member FDIC Donald H. Jordahl Vice President ThereJsA Difference In Banks... Illinois News CHICAGO: David A. Venard has been promoted to senior vice presi dent, finance of Parkway Bank and Trust Co./First State Bank of Chi cago. He has been with the bank since 1984, m ost recently serving as vice president of finance. EVANSTON: First Illinois Corpora tion has completed the acquisition of First Burlington Corporation and its two banks, LaGrange Bank & Trust Company and First Burling ton Bank, Willowbrook. First Illi nois now has 12 banking offices in the Chicago metropolitan area and total assets of $1.3 billion. Used by bankers throughout the m idwest H. PETER De ROSIER Vice President Valley National Bank isl Main Office-Sixth and Walnut D ES M OINES, IOWA 50304 Estate Appraisals Purchase of Collections Sale of Rare Coins R eliab le and respected service for over 20 years For Professional Correspondent Service Call 1-800-622-7262 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis age the banking location at Regen cy. Mr. Koenigsman was m ost re cently manager of business banking and sales finance. Mr. Miller was m ost recently vice president of cor porate banking at 20th and Famam Street. GALESBURG: First Illini Bancorp, Inc. and Community Bank and Trust Company, Canton, have an nounced an agreement in principle for First Illini to acquire Commu nity Bank and Trust Company. The acquisition is subject to regulatory approval and Community Banc- to talk Iowa banking with people who live it — people like Donald H. Jordahl and the cor respondent staff at Bankers Trust. I 773 Spruce Street P.O. Box 159 Ocheyedan, Iowa 51354 Phone: [712] 758-3660 A BANKS O F IOWA BANK Member FDIC BenE. Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 a n k e r s® , B (ANKERS® ^ SM Some special candidates from Robert Half's Banking Division Partial list o f available Banking candidates. LOAN REVIEW: Strong credit review and clean-up background in loans of $ 2 0 0 K + . Handles key credits in $100m + bank with four plus years of solid experience. DB700 $35K CONSUMER LENDER: Competitor! Two plus years in aggressive consumer finance company attacking the market. Well trained and goal directed. DB701 $18K PRESIDENT: Tested professional who has proven skills in two $15m banks with excellent results. Highly community active seeking stable environment. DB702 $33K TRUST DEPARTMENT HEAD: Currently running growing metro department. JD, seven plus years in trust particularly good with older professional clientele. DB703 $42K COMMERCIAL LENDER: Credit analysis training from large bank. Seeks more in-depth involvement than last year 1V2 has provided. Taken charge of and added to $8m portfolio in metro setting. DB704 $25K AG LENDER: Talented lender with two years in $22m department working cash flows, FHA’s and farm calls. Understands customer but can say no. DB705 $21K OPERATIONS HEAD: Heavy operations, asset and liability management plus accounting report experience. Ten plus years of banking as a successful manager at the bank and holding company level. DB706 $42K CHIEF EXECUTIVE OFFICER: Dynamic take charge leader who knows how to handle the #1 spot. Currently running a $5m bank with 1 + ROA and minimal classified. Family oriented professional who would add to any community. DB707 $58K CASHIER: Trained for three years as a bank examiner then added last two in $25m institution. Detail person, documentation skills are A-1. DB708 $23K INSTALLMENT HEAD: Supervises three plus lenders. Worked with GSL’s, floorplanning, personal loans plus. New business developer who leads by example. DB709 $28K https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (C O N TIN U E D ) PARTIAL LISTING OF AVAILABLE BANKING CANDIDATES — FINANCIAL AND EDP SENIOR COMMERCIAL LENDER: Built and shaped a $20m portfolio in competitive metro area. Relishes challenge, problem solving and working with the hard to win customer. Eight plus years and MBA. DB710 $48K REAL ESTATE LOAN OFFICER: Experience + + + in diverse markets, heavy computer knowledge. Reorganized department in $80m bank and turned it into profit center. Looking to further extensive skills in both residential and commercial. DB711 $37K SENIOR AG LENDER: Headed up farm loan department in $180m + bank. Super image and sales skills, good commercial and real estate loan knowledge as well. Seeking opportunity not $ ’s. DB712 $34K PRESIDENT: Workout is a speciality. Has cured a serious problem situation while maintaining profits and without sacrificing good customers in $40m + bank. DB713 $48K BANK AUDITOR: Three plus years in holding company environment involved in both staff and in charge work. Hard worker, doesn’t mind travel or small communities. DB714 $21K RURAL COMMERCIAL LENDER: Eight plus years in $70m environment handling varied commercial loans from mom and pop to large corporate lines. Credit analysis skills have kept things clean. Good people person. DB715 $32K TRUST OFFICER/JD: Estate planning, financial planning and technical talents. Community active as well as involved in statewide banking organizations. DB716 $24K MORTGAGE LENDER: Started department from scratch. Familiar with FHA, VA, FHLMC and FNMA approvals. Managed six while generating $7m + in new loans. Innovative lender who can close that important loan. DB717 $70K RETAIL BANKER: Upscale marketer with in-depth new business skills developing real estate, consumer and small commercial clients. Has prospered in aggressive marketplace provided over last five years by $260m institution. DB718 $26K SENIOR AG LENDER: Detail-oriented professional with top-notch ag loan and personnel management skills. Seeks # 2 spot in $40$80m bank that offers growth. Very qualified in all areas of ag credit including larger lines. DB719 $32K FOR FURTHER INFORMATION ON THESE CANDIDATES CONTACT KURT ROSENCRANTS ROBERT HALF 317-6m AVENUE, STE. 650 DES M OINES, IA 50309 Banking, Financial, Accounting and EDP personnel specialists. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (515) 244-4414 • ATTENTION IOWA BANKERS PROBLEMS WITH YOUR BLANKET BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? We have been able to solve many bonding problems for bankers at the lowest possible premium. Call or Write THE KANSAS BANKERS SURETY COMPANY 435 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 1-913-234-2631 Serving bankers for more than 75 years https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 7-14-86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 C all on th e “ Experienced P rofessionals” ^F trsT ier.B an k Ready to m eet your correspondent needs. ® _ ® • ^ 0 ® Lincoln 13th & M Streets, Lincoln, Nebrssks 68501 shares of Canton, Inc. shareholder First Bank Minneapolis. Ms. Mas approval, and is expected to be com choff served m ost recently as na pleted by early 1987. tional accounts division manager. Ms. Clausen had been serving as LOMBARD: Steven F. Gersch has manager of complex plan adminis been named vice president, corpo tration. rate banking at Bank of Yorktown. He was previously assistant vice MINNEAPOLIS: Keith Fenhaus president, commercial loans at Colo- has been named senior vice presi nial Bank & Trust Company of Chi- dent, finance and planning for the fi nancial services division of First cago. Bank System , Inc. He m ost recently Minnesota News was vice president, treasurer and MINNEAPOLIS: James M. Lyon, controller for FBS Mortgage Corpo assistant vice president, has been ration. named vice president for banking North Dakota News supervision and regulation at The Federal Reserve Bank of Minneapo North Dakota Bankers Associa lis. tion officials and the state office of MINNEAPOLIS: Marquette Bank the Farmers Home Administration Minneapolis has named Curtis F. are planning a series of eight meet Johnson as vice president and man ings across the state to provide ager of the bank’s international bankers with information about banking department. He has more FmHA’s loan programs and person ally discuss their questions. The than 10 years banking experience. dates and locations are as follows: MINNEAPOLIS: Three have been July 29 - Norwest Bank Bismarck appointed to vice presidents at NorJuly 31 ■Hospitality Inn, Dickinson Aug. 5 - MDU Building, Williston west Bank: John Weingart, indivi Aug. 6 - First American B&T, Minot dual trust services, and Deborah Aug. 7 - ArtClare Motel, Devil’s Lake Maschoff, and Susan Clausen, NorAug. 12 - Westward Ho, Grand Forks west Capital Resources. Mr. Wein Aug. 13 - Doublewood Inn, Fargo Aug. 14 - Gladstone Inn, Jamestown gart had been a vice president with 'gpiJW M agnum V ault Doors Firsller Bank, N.A., Lincoln, Member FDIC Wyoming News CASPER: E. Rube Rider has been promoted to senior vice president of lending at Mountain Plaza National Bank. He has served as vice presi dent since 1983. Colorado News DENVER: The board of Colorado National Bank-South has promoted Nancy A. Nicholson to vice presi dent. She has been with the bank since 1970. Serving bankers quietly and efficiently. C APITAL PERSONN EL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 Fortify your earnings with quality investm ent programs. Ship from stock - Two on display in our showroom i f l 3§§j| The industry’s highest quality and the industry’s lowest cost Bankers Security—Safe and Vault H |§ B || ■ ■ ■ IR 9906 A E. 53rd St. Raytown, MO 64133 816-358-0883 Inquire about FLEXOPAY® CALL: ■ a com puterized billing/credit system 1-800-772-2411 ■ generates additional income from present staff and equipm ent WRITE: ■ m eans of increasing your local commercial business ■ plan developed by bankers for bankers LeRoy Bell The National Bank of Waterloo RO. Box 90, Waterloo, IA 50704 Loan and investment reviews and other management services UNITED MISSOURI BANK Member FDIC of KailSaS C ît^ ll.a. SWORDS ASSOCIATES. INC. 10th and Grand • P.O. Box 226 Kansas City, Missouri 64141 (816) 556-7200 P R O F E S S IO N A L B A N K IN G C O N S U L T A N T S 4900 OAK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bond portfolio recommendations from United Missouri Bank reflect over 55 years of portfolio management experience. Call us today for your program. SUITE 301 KANSAS CITY, MO 64112 (816) 753-7440 POSITION AVAILABLE LENDING OFFICER aqncareers, inc . J AG BANKING PERSONNEL SPECIALISTS $55M midwest bank seeking experienced lender for ag-commercial loans. Must be seif starter with good documentation and information gathering skills. Could be #2 man in 12-18 months. Please send resume to File No. WGD c/o Northwestern Banker. SENIOR LENDER for $35M bank In western Nebraska. Senior Lender with commercial and agricultural lending experience. In charge of $22M loan portfolio. Send resume and salary requirements to File No. WGB c/o Northwest ern Banker. (PA) Position available in N.E. Nebraska-bank—SENIOR OFFI CER in a small rural Ag bank. Ag lending experience re quired; bank operations experience and knowledge of FmHA programs preferred. Send resume to File No. WGC c/o Northwestern Banker. (PA) LOAN OFFICER. Preferably 2-4 years experience. Opportu nity to work with a good, clean bank in a progressive com munity surrounded by productive agricultural area. Send letter of application and resume to Jim Molloy, First State Bank, Conrad, IA 50621. (PA) AG LENDER #2 position. 2-5 yearsag creditexperience with real estate lending experience a + . Send resume and salary requirements to: Galen Reading, V.P./Ag Rep., C/O First Nat’l Bank of Mapleton, (Box 306) Mapleton, MN 56065. (PA) FINANCIAL BUILDINGS Temporary/permanent, new/used, purchase/lease, available now 14’ x 60’, 24’ x 60’, 24’ x 70’, fully equipped with vaults, depositories, DUW, teller equip., pneumatics, safe deposit boxes. Call 316263-4557. SON CORPORATION, Box 684, Wichita, KS 67201. SENIOR LENDER for $60 million Illinois bank. Requires ag and commercial lending experience ___ Salary to $45,000 OFFICE MANAGER for town of 3,500 . . . Salary to $40,000 CEO for small Western Iowa bank located in town of 2,000. Requires ag background.......................... Salary to $35,000 TRUST OFFICER with employee benefit experience. JD preferred but not required........................ Salary to $40,000 Jean 712/779-3567 Massena, la. 50853 Sandl 515/394-5827 New Hampton, la. 50659 Confidential. Employer paid fees 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, 1535 Lindan Suita 201, Daa Moines, Iowa 50309. Phono 515-244-8163 WANT TO BUY D onald E. H older , Principal FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 POSITIONS AVAILABLE PRESIDENT Do your abilities deserve greater recognition? Small MT Bank with clean portfolio seeks community minded leader. Desire 8 + yrs coml/ag lending exp., degree, & strong marketing skills. To $40,000 Job #B8737. SENIOR LOAN ADMINISTRATOR Frustrated? Med size outstate bank in great MN city de sires mgr of the lending function. 7 + yrs coml lending exp., degree, & outstanding people skills needed. This is a great opportunity. To $50,000 Job#B8738. AG LENDER A great step forward! Med SW MN bank desires Sr. Ag lender. 6 + yrs ag lending exp., strong analytical abilities, & assertive marketing skills desired. To $35,000 Job #B8739. FOR MORE INFORMATION CONTACT PAUL GENTZKOW (612) 339-9001 ALL FEES COMPANY PAID Freeland Financial Service 1010 Equitable Bldg. Das Moines, IA 50309 515/282-6462 Employer pays fee. Please contact'Malcolm Freeland concerning these quali ty applicants or for other types of banking officers. FOR SALE FOR SALE BURROUGHS 1000 posting machine and auto reader has been under maintenance contract. Price is negotiable. Call (319) 372-1134 (FS) Burroughs S4909 OCR document processing sys tem. 12 pockets. E13B font. Microfilm Module op tion. S4000 Alpha keyboard. 1 year old. B A N K IN G USED 2400 BAWD MODEM—make an offer. Contact First Community Bank & Trust, Traer, IA. (319) 478-8746. (FS) POSITIONS WANTED EXPERIENCED ag/retail/installment lender in $35 million bank seeking affiliation with midwest bank. Have 31 years experience in two Iowa banks. References available. Lyle G. Hansen, 55 Settlers Lane, Denison, la. 51442. 712/263-4759. (PW) POSITIONS AVAILABLE SR. VICE PRESIDENT. Oversee all lending and \ i supervise ten lending officers. Portfolio is primarily j I commercial/real estate; background in either area. ; 120,000com m unity........ To$50,000 .........Call Bruce j TRUST DEPARTMENT HEAD. Holding company | \ bank is $270 + mm located in a historic setting. 5 + years general trust and good staff development | skills....................... To $55,000 ..................... Call Mar] Ï COMMERCIAL LOAN OFFICER. Rapid movement to | #2 possible. Mainstreet commercial business along ! with participations and real estate. Benefits, profit ¡sharing .................. Mid$30's ................... Call Dean V.PJAG DEPT. MGR. Responsible for ag portfolio at this $50 + mm bank. Progressive, county-seat town j with good growth in last decade.................................. ( C.L.OJV.P. If you can handle a $20mm commercial j portfolio and have 5 + years in commercial, this ■$500 + mm holding company bank offers tremen{ dous upward mobility quickly! Bank is located in rescession proof, progressive community .................... ........................ To $50,000 ......................... Call Mar] VICE PRESIDENT. If you are CEO material and this j is your goal, this highly rated bank near metro city is for you! Knowledge of ag and small commercial . . . j ............................. $30*8 ............................. Call Dean | CREDIT REVIEW MGR. Retirement of existing man, ager opens this spot! Commercial, installment, and : \ real estate portfolio. Loan review background ........ I .............................$40’s ............................. Call Bruce I CORPORATE TRUST OFFICER. $370mm lead bank I for viable holding co. Experienced employee benei fits person with business development skills, salary i plus in centive............ To $47,000 ............. Call Mar] SR. VICE PRESIDENT. Take charge of loan dept., j : 50% ag. Supervise five loan officers. Experienced ; lender .....................$40,000 ..................... Call Dean j RO BERT BMLF 3636 IDS Center Minneapolis, MN 55402 REAL ESTATE LENDER with at least 5 years experience in sales, pricing and production. Knowledge of residential and commercial products. Wifi manage Secondary Market Activity ............................................................... Salary Open TEXAS INSTRUMENT COMPUTER MODEL NO. 990 com plete with a terminal and two printers. Make offer (712) 523-2171. (FS) <z H o CcI ex a n d c^hioaLatzi, Bank Consultants BANK AUDITOR for ma]or eastern Iowa b a n k .................... ..................................................................... Salary to $32,000 WANT to move into community in northern half of Iowa to purchase, control and manage good community bank. Have 20 years successful farming experience and five years as successful CEO/owner of community bank in midwest. Would consider #2 position with option to pur chase. Write File WGA c/o Northwestern Banker. (WTB) LeaseAmerica Corporation Cedar Rapids, IA 319/398-7815 Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 FINANCIAL CAREERS CEO for $16 million Iowa Bank located in scenic farming community. Requires Ag lending and overall bank super vision background .....................................Salary to $40,000 (personnel S earch 1126 So. 72nd St. Omaha, Ne. 68124 . 402 - 397- 2980. PRESIDENT • Need strong ag banking experience. Degreed - capable of supervising a staff of 80 - 3rd tier level management major Greater Omaha bank. To $80K. CEO - Need bank management and business de velopment experience. SE Nebraska bank. To $45K + Bonus. INVESTMENT REP • Need 2 years or more experi ence with stocks & bonds, either stock broker or with a bank (correspondent banker). Degree -Omaha. To $35K + Comm. All fees are paid by our client employers. Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We’re Nationwide POSITIONS AVAILABLE LOAN REVIEW - lead bank of major mldwestern holding company. Requires degree and minimum of two yrs. loan review experience In large bank environment. $28K COMML. LOAN - $100M suburban affiliate of large multi bank holding company. Strong technical skills and 3 yrs. or more experience. $30K INSTL. LOAN • manage consumer department for $80MM suburban bank. Ideal candidate will have five yrs. instal. lending background including dealer paper. $30K CEO - small rural bank located close to recreational area. Work out situation. Ag credits not the problem. $38K AGRI LOAN - primary responsibility for all Ag credits in $25MM community bank. Assist with commercial loans. $35K Additional opportunities available. Resume requested. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970’’ Voi. 15 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, $18.00 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 #201, Des Moines, Iowa 50309. Digitized forSt., FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis