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Vol. 12 No. 13 Des Moines, Iowa July 18,1983 B M A Board OKs Merger with A B A T HE board of directors of Bank I M arketing A ssocia tion has decided to recommend to its mem bership an affirmative vote on a pro posal that BM A merge with the American Bankers Association. The mail and/or telephone vote among BM A members is scheduled to take place some time in September. If approved, BM A headquarters would remain in Chicago at least for the next five years and perhaps per manently. An ABA spokesman said all professional marketing programs would be relinquished by ABA and turned over to BMA. “ BM A has tre mendous credibility in the market ing field," he said. The affiliation would be known as BM A/ABA. Ap parently, BMA would continue as a subsidiary of ABA much as the American Institute of Banking has done since its total affiliation with ABA. BMA member banks will find a big savings in the affiliation with ABA, to which all the banks already belong. They won’t be paying double dues, and all ABA members now will have automatic access to the full BM A activities which cover every aspect of marketing, including an extensive training system, pro fessional seminars and an in-depth marketing library. During the initial five-year period, ABA will commit $1.7 million to the support of BMA to replace the dues it would other wise have collected. Ray Cheseldine will continue as executive vice president of BM A as head of the headquarters staff in Chicago. All current staff wil con tinue in their present positions. tion of the president and other of ficers would be governed by the reg ular ABA nominating and election system. □ Chiles, Heider Plans Merger Chiles, Heider & Co. and Shearson/American Express, Inc., have agreed in principle for Shearson to acquire all outstanding capital stock of Chiles, Heider. The purchase price Richard M. Rosenberg, current was not disclosed. Charles Heider, president of BM A and vice chair president, said the current operating man of Wells Fargo Bank, San Fran staff of the Omaha-based firm will cisco, said the merger agreement continue in their present positions. calls for BM A and ABA to alternate The firm will operate autonomously the presidency of the BM A/ABA as a subsidiary of Shearson/A.E., in over a five-year period between cur the same manner as other regional rent elected BM A officers and cur brokerage firms acquired by the rent ABA marketing division of New York-based company. Daily ficers. Under this arrangement, the brokerage operations will operate following bank officers would head under the Shearson/A.E. name, the merged group in the coming while municipal activities will con years: tinue to be operated under the 198485—Barry Deutsch (BMA), Chiles, Heider name because of its senior vice president, Mellon Bank, long identification as one of the top Pittsburgh. 100 municipal underwriters in the 198586—Robert Krane (ABA), nation. vice chairman, Norwest Corpora tion, Minneapolis. Iowa News 198687—Smith W. Brookhart (BMA), president, Centerre Bank, Richard Randall, president of the Branson, Mo. Dunlap Savings Bank, has announced 198788—John A. Russell (ABA), his candidacy for the office of trea vice president and director of mar surer of the Iowa Bankers Associ keting, Banc One Ohio, Columbus. ation for the 1983-84 term. He was 198889—M ichael P. Sullivan chairman of IBA Group 5 from (BMA), vice president-corporate 1979-81 and served on the IBA communications, First Union Na board of directors during that time. tional Bank, Charlotte, N.C. In addition, Mr. Randall has served Beyond that five-year period, elec- on the board of ITS, Inc., and the BM A/ABA SPRENGER. ROWLAND AND Getting MESSINA it done for you. « jjjg k ^ Bill Sprenger 234-2625 Frampton Rowland 234-2485 John Messina 234-2486 wCranmerce Bank ofKansascity https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC Telephone (816) 234-2000 " 2 Norwest Bank Des Moines , N.A. Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC NORWEST BANKS Reliable and respected service for over 20 years Used by bankers throughout the midwest Bob Buenneke Gary M cClim en marketing, as president succeeding Brian R. Phillips, who has resigned to take a similar position with the $6 billion asset Houston based Allied Bancshares, Inc. DES MOINES: Roger Arwood has resigned as vice president of Bank ers Trust Company in the correspon dent bank department to join First National Bank of Kansas City. KEOTA: J.R. Helscher, president, Farmers Savings Bank, will be hon ored by his associates on the staff and board of directors at a special party for visiting bankers July 22nd CEDAR RAPIDS: Banks of Iowa on the occasion of his 50th year with Computer Services, Inc., has an the bank. He began working at the nounced the election of Brian C. bank during his high school days in Scott, currently vice president of 1933. A public open house July 24th also will honor Mr. Helscher, as well as mark the 90th anniversary of the bank. Nebraska News ASK JO HN MANGOLD to make MNB work for you. Toll free 1- 800- 332-5991 Purchase of Collections Sale o f Rare Coins Y earn w ork: one o f the reasons w e’re firs t in Iowa. Iowa Independent Bankers. He is currently on the board of Iowa Bankers Insurance and Services, Inc. As announced last February, Holmes Foster, president of Banks of Iowa, Inc., also is a candidate for the office of IBA treasurer. Both men received the required number of nominations on the IBA ballot mailed in May and have said they will serve if elected. The election will take place under IBA by-laws by mail ballot in August, with results an nounced during the IBA annual con vention September 19. Estate Appraisals Nebraska Bankers Association Group Meetings will be held on four consecutive days beginning August 15. The meetings will begin at 5:00 p.m. with an informal rap session with NBA president and staff repre sentatives; cocktails from 6-7:00, and dinner at 7:15 followed by guest speaker Ace Reid, cartoonist for the comic strip Cow Poke. Dates and locations follow: Au- Ben E . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 gust 15, group 6, Scottsbluff Inn; August 16, groups 4 and 5, Kearney Ramada Inn; August 17, groups, 1, 7 and 8, Lincoln Hilton, and August 18, groups 2 and 3, Norfolk Villa Inn. NIOBRARA: Director of Banking and Finance Paul J. Amen closed the Bank of Niobrara at 3 p.m. on Friday, July 8, for reasons of in solvency due to the loan portfolio and appointed the FDIC as receiver. Using the full authority for the first time that was granted by LB 241 during the recent 1983 unicameral session, Mr. Amen approved the pur chase and assumption of all deposits and certain assets of the closed bank by the Farmers & Merchants State Bank of Bloomfield. Under terms of LB 241, the Bloomfield bank now is operating a branch in the former Bank of Niobrara building to serve all depositors of the failed institu tion. A t last year-end, the Bank of Niobrara had deposits of $6,774,000. The Bloomfield bank had total de posits of $19,915,000. Mr. Amen pointed out that no depositor will suffer a loss under this purchase and assumption. Recipe for success.. X ' " 'V ' 's' NN\t ' ¿V ' '% Bemi§ Miller, Correspondent Banking Officer, has over 3U''years oj: blinking experience,; and tfie i^peJoFsiucce^': m ¡Si Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I . 11 WÊÊÈÊÊÊÊÊKÈkwÊ Amerk „Memb.eLEÛIQ,,,and,EES, Help yourself by calling Bemie Supplement to Northwestern Banker Newsletter 7-18-83 W here success is etched in quality. he success of your bond portfolio is a function of quality investments. After all, quality is your best assurance of growth in earnings. United Missouri’s Investment Banking Division can make sure you’re investing in high quality securities. W e offer exactly what you want. And, for over 50 years, our track record for making successful recommendations has been excellent. Undoubtedly due to our consistently high standards. Call or write us today. W e’ll hold your investment information in the strictest confidence. Investm ent Banking Division UNITED MISSOURI BANK of Kansas City, n.a. Member FDIC United we grow.Together. 10th and Grand o P.O. Box 226 ö Kansas City, Missouri 64141 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DATED: • July 1,1983 DENOMINATION: $5,000 Both principal and semiannual interest (June 1 and December 1; first coupon due June 1,1984) payable at the of fice of the Bankers Trust Co., Des Moines, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. # MATURITIES $ 75,000 $100,000 125,000 $125,000 $150,000 $150,000 $150,000 $200,000 • 6.90% June 1,1986 7.00% June 1,1987 June 1,1988 7 1/4% June 1,1989 7 1/2% June 1,1990 7 3/4% June 1,1991 8.00% June 1,1992 8.20% June 1,1993 6.40 $225,000 6.70 7.00 $225,000 $225,000 7.25 $250,000 7.50 7.75 8.00 $250,000 275,000 300,000 325,000 350,000 8.40% June 1,1994 8.60% June 1,1995 8 3/4% June 1,1996 8.90% June 1, 1997 9.00% June 1,1998 June 1,1999 June 1, 2000 June 1, 2001 June 1, 2002 8.40 8.60 8.75 8.90 9.00 9.10 9.15 9.20 9.20 8.20 ‘ Bonds callable June 1, 1993 at 100% plus accrued interest LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH DES MOINES, IOWA The City of Mason City is located in North Central Iowa on Highway 18 just east of Interstate Highway 35. The City is midway between Des Moines and the Twin Cities of Minneapolis/St. Paul, Minnesota and is the county seat of Cerro Gordo County. The City serves as the principal trading center of north central Iowa. Major employers in the City include: Armour and Co. (meat packing); Northwestern States Portland Ce ment Co. (cement); A.C. Nielson Co. (market research); Schneider Metal Mfg. Co. (commercial ice machines) and Libbey-Owens Ford Co. (glass). The City operates its own airport with daily service to Chicago, Minneapolis, Des Moines, Omaha, Sioux City and Waterloo. Rail lines serving the City are the Chicago and North Western Railway and Milwaukee Road. There are three commercial banks serving the City with deposits exceeding $267,266,000 and three savings and loan associations with combined assets of $413,320,000. The population is estimated at 30,144. These bonds are being issued for the purpose of financing its share of a program designed to renew the community’s primary commercial district. Southbridge, the keystone of this revitalization project, will be a privately developed, enclosed shopping center to be occupied by two major department stores, 40-50 mall shops, a drug store, a cafeteria and movie theatres. • a FINANCIAL STATEMENT Actual Valuation, 1982 Assessed Valuation, 1982 Net Direct Debt, including this issue Net Direct and Overlapping Debt Population, 1980 estimate: 30,144 Net Direct Debt: Combined Net Debt: $645,427,971.00 506,022,031.00 4.062.930.00 4.723.596.00 $134.78 per capita $156.70 per capita 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 m aturity 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 Supplement to Northwestern Banker Newsletter 7-18-83 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 CALL ON THE “PERFORM ANCE TEAM 199 where common transactions are handled uncommonly well. ■ FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. • • ® ^ ® _ “ 0 • • • • * OMAHA: The active principals of the Robert E. Schweser Company, Inc., have joined with MBU, Inc. (Municipal Bond Underwriters, Inc.), and have purchased most of the underwriting contracts owned by Schweser. The seven principals of Schweser sold their interest in the firm in June, 1973 to National Bank of Commerce in Lincoln, and were given 10-year employment con tracts. The new affiliation with MBU, Inc., was announced upon ex piration of that 10-year contract. NBC will continue to own the Robert E. Schweser firm name, which has been incorporated into the NBC investment department. Principals of MBU are William March, Patrick H. Rensch, Robert Roh, Charles Poore, William Abts, Wayne Rasmuss, John Fleming and Micky Krupinsky. Minnesota News The Minnesota Bankers Associa tion Commercial Lending School 1983 session will be held August 7-12 at St. Olaf College, Northfield. The school is designed for the banker with a fundamental knowl edge of credit with limited exposure to commercial lending. The curric ulum will focus on the “ how” and “ why” of commercial lending with emphasis on practical application. MINNEAPOLIS: First Bank Min nehaha recently announced the election of Eric C. Iversen as senior vice Don't gam ble when choosing o correspondent bonk. Come to th e professionals. UNITED CHURAL BANK OF DES M O IN ES , N A ■ M E M B E R FDIC ■ (51 5) 245-7 11 1 AFFILIATED W IT H UNITED CENTRAL BANCSHARES. INC. TOLL FREE NUMBER (800) 362-1615 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis president and Donna M. Raske and Russell E. Kruse, Jr., as vice presidents. Mr. Iversen started at First Bank Minnehaha in 1977 as vice president in retail banking. Ms. Raske joined in 1982 with respon sibilities in business development and marketing along with manage ment of the retail banking deposit area. Mr. Kruse started in 1974 as a management associate and most re cently managed the retail banking credit division. Illinois News The Illinois Bankers Association has joined the Deerbrook State Bank, The Independent Bankers As sociation of America and the Inde pendent Community Banks of Il linois in a Federal District Court suit in Chicago against the Comp troller of the Currency C. Todd Con over, 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 board of directors of the IBA was unan imous in its decision to involve the IBA in this action. (Details of the suit were reported on page two of the July 11 Weekly Newsletter.) CHICAGO: Clarence E. (Bud) Cross has been promoted to vice president in the U.S. Financial Institutions Group at First National Bank. Mr. Cross has a wide acquaintance in Iowa and Illinois where he has served correspondent banks for many years. fective August 1. He succeeds D. Wayne Meyer, who has retired as president. Mr. Roeder started his banking career with Security Na tional on a part-time basis in 1965 while attending college. He later spent nine years in the data processig department, three years as EDP auditor and the last four in the correspondent department. North Dakota News CANDO: Donald E. Matteson has joined Towner County State Bank as vice president and agricultural loan officer, announced Terrence M. Zeltinger, president. Mr. Matteson most recently was assistant vice president at First Bank Grand Forks. Montana News BILLINGS: Thomas H. Farris has been elected president of Norwest Bank Billings. He succeeds chair man and president A1 Winegardner, who will continue as chairman and chief executive officer. Mr. Farris had been serving as executive vice president of Norwest Bank Des Moines, Iowa, a position he has held since 1981. He has been a resident of Des Moines since 1949. Portable Modular Bank Building South Dakota News DE SMET: Ken Roeder, currently correspondent banking officer at Security National Bank, Sioux City, Iowa, has been named president of Peoples State Bank in De Smet, ef TOWN HOMES FOR SALE At Pre-Construction Prices With 121/2% * Financing Available General Bank Equipment S Systems, Inc. DWAYNE SMITH Paradise Properties Box S Dillon, Colorado 80435 Phone 1-800-922-2590 RR45, Box 115 Hiway 73,3 Vz Miles North of Int. 680 Omaha, Nebraska 68152 (402)453-3000 •Subject To Change Lease* Rent* Buy POSITIONS AVAILABLE Ag Banking Personnel Commercial Lender for $300 m illion bank in Upper Midwest. Requires college degree and demonstrated lend ing a bility...............................................................Salary open Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi dential. Employers pay us to hire the best. Number Two Person for $30 m illion com m unity bank. Re quires ag background and proven executive ability. .Salary to $45,000 Commercial Lender to head commercial loan department and supervise installm ents in $60 m illion bank. Requires 5 or more years bank lending experience... Salary to $40,000 Senior Ag Lender w ith college degree and minimum o f 5 years bank lending experience needed by major midwest bank. Some travel.........................................Salary to $40,000 Commercial Lender for com m unity bank in town of 15,000. Requires 5 or more years experience in a bank of at least $40 m illion ..................................................... Salary to $35,000 Linda: 515/394-5827 Jeannie: 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 ■ Massena, Iowa 50853 Commercial Lender fo r m ulti-bank holding company in bank located in city over 100,000. Requires 3 or more years bank lending experience............................. Salary to $30,000 30/7 CAREERS, INC. J Ag Lender w ith sales and promotional a bility fo r bank in outstanding northwest Iowa com m unity o f 3,000. Requires m aturity......................................................... Salary to $28,000 THE ORIGINAL AGRICULTURAL RECRUITER Ag Lender for central Iowa bank. Requires 3 or more years experience in a com m unity bank.............. Salary to $26,000 POSITION AVAILABLE Sales/Operatlons person for major bank supplier. Quad cities location. Car furnished..................... Salary to $30,000 $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) W rite or call Malcolm Freeland, Freeland Financial Ser vice, Inc., 1032 Carriers Bldg., Des Moines, la. 50309. Phone 515/282-6462. Employer pays fee. AO 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) Progressive $51 m illion central Iowa independent bank has an opening for second person in AGRI-LENDING DEPARTMENT. Installment lending experience beneficial. Salary compensated w ith experience. W rite file UBJ, c/o Northwestern Banker. (PA) LOAN OFFICER—Challenging opportunity for a person w ith tw o to three years consumer lending experience. Commercial and agricultural background a plus. Send resume and salary requirements to Jack Ellis, Senior Vice President, State Bank of New Prague, 201 Central Ave. N., New Prague, MN 56071. (PA) First National Bank of Clarion is interviewing for the posi tion of COMMERCIAL LOAN OFFICER. Need strong ex perience in agricultural lending. Send resume to Mr. R.B. Bartholomaus, c/o First National Bank of Clarion, P.O. Box 268, Clarion, la. 50525. (PA) INSURANCE SALES MANAGER—At least tw o years bank ing experience desired - not necessary. Base salary plus commission. Send resume to Frank Osowski/EVP, Na tional Bank o f Canby, P.O. Box 70, Canby, MN 56220. (PA) Self-motivated individual for entry level AG LOAN POSI TION In aggressive eastern Iowa com m unity bank. Send resume to: Norlan Hinke, c/o First Central State Bank, DeWitt, IA 52742. (PA) MARKETING SALES PERSON— Knowledge of bank pro ducts and sales oriented essential. Marketing experience helpful. Outside calling required. Salary plus commission. W rite file UBL, c/o Northwestern Banker. (PA) 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 Administrative Officers w ith major banking experience. ..................................................................... Salary to $50,000 Installment Lenders w ith over five years banking ex perience...................................................... Salary to $25,000 Operations people w ith over five years experience............. ..................................................................... Salary to $30,000 If you are considering an additional officer, we have dozens of qualified applicants listed in most job cate gories. Write 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. BANK PLACEMENT SPECIALISTS (Our 34th year) Call experienced professionals to locate the right candidate for your vacancy ... or the right “ move-up” for yourself. CORPORATE RECRUITERS MIDWEST BANKING DIVISION 202 S. 71st Street 402/393-5515 Omaha, Nebraska 68132 MUNICIPAL BOND TRADER BANKING OPPORTUNITIES Ag Loan Officers - la. & Ne................................$30K Commercial Loan Officers - IA., NE., MO., KA. 40K No. 2 Person - Commercial - Central Io w a ___ 40K No. 2 Person - Ag Lending - Ne...........................35K Branch Manager- 8 Mill. la. bank - Ag Lending.. 30K Trust Officers - la. and Kan................................. 40K If interested, please call or write: PHYLLIS S. LYNCH Gumbert Executive Exchange 11246 Davenport Street Omaha, NE 68154 Phone 402/330-3260 m NCR USERS— Buy from Mountain States Paper and save! For all 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) Our fast growing Bond Department has an im mediate need for a head trader and underwriter to help us maximize our potential. We offer a good salary and bonus plan and excellent benefits. This is an excellent opportunity fo r an experienced muni-trader to run their own department. Call Jan Nolander at (612) 341-6578 for more inform ation. F&M MARQUETTE NATIONAL BANK Sixth and Marquette Minneapolis, MN 55480 Affirmative Action Employer (PA) Increasing Bank Deposits Jm Through... KElTH w e ig e l IRA’s...Keoghs...Pension Plans Serving Banks in Iowa and Minnesota INDEPENDENT SERVICE COMPANY P.O. Box 171 • Albert Lea, MN 56007 507/373-8216 (PA) POSITIONS AVAILABLE AGRILOAN— manage Ag department in $50MM communi ty bank. Prefer degree and 4 yrs. + experience. $28K COMMERCIAL LOAN— large suburban bank a ffiliated w ith multi-bank holding company seeks addition to staff. W ill supervise junior officers. $36K INSTAL. LOAN—handle all Consumer loans and some Commercial lines for $25MM com m unity bank in central Missouri. $20K OPERATIONS OFFICER— responsibility for all operational departments plus regulatory reports. $55MM bank. $32K PRESIDENT—medium size com m unity bank needs strong CEO w ith Commercial and Ag background. Degree de sired. Open REAL ESTATE LOAN—generalist Real Estate loan back ground and some experience w ith secondary market. Man agement position. $30K Resume' and salary inform ation requested. TOM HAGAN & ASSOCIATES of Kansas City 2024 S w ift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 No. 13 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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