The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Five State Associations Elect New Officers https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MUPIP ¡§ ¡1 # « M l ■mm M M M & w h h MSM i ms iglt§filgl iS ill wMMWmM »p $p i^wSais “ Doing the right thing at the right time is basic to success in business. When an investor sells a stock too early, he loses profit potential. When a farmer plants a crop too late, he loses yield potential. Proper timing is also important in banking. In our Correspondent De partment we use current data process ing reports to maximize Fed Fund potential. Detail check collection schedules and sophisticated analysis techniques enable us to pass availa bility on to banks for full utilization of their investment potential. Now is the right time to take ad vantage of M NB’s experience in cash collection, Fed Funds Investments, and over line assistance. Learn more about our correspondent services and improve your profitability.” CaH 319-398-4217 or dial toll free, 1-800-332-5991 and ask for Stan R. Farmer, Jerry N. Trudo, Terry M. Martin or John E. Mangold. Call now! The time is right! Merchants National Bank C edar R apids, Iowa 52401 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member F.D.I.C. is i A BANKS OF IOWA BANK A SECURITIES SERVICES SPECTACULAR! q # ^ ® From Manufacturers Hanover comes a package o f securities services so broad and advanced th a t we’ve given it the grand new name of GeoPac.sm With GeoPac, you get everything you need fo r complete asset control in one coordinated package from one unsurpassed source. GeoPac Safekeeping. For the quick response essential when processing securities in America’s #1 money center. The springboard, too, to other services. GeoPac Depository Processing. The most advanced way to hold, deliver, receive and pledge securities - via the book- entry systems o f the Depository Trust Company and the Federal Reserve Bank. Let us usher you into the era o f electronic processing, and watch the rate o f fails fall. GeoPac information Exchange. Direct, on-line https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis communications between your offices and MHT in New York keep you informed o f trade status. It begins w ith Direct Input of Instructions, a more timely and less costly way to initiate action and follow through. GeoRic Securities Lending. With MHT as matchmaker, sophisticated investors can earn extra income by lending securities to brokers and dealers. For full details, ask fo r our series of new GeoPac brochures. Contact your MHT representative or Brian V. Carty, Vice President, at (212) 286-5787. And bring a dazzling display o f synchronization to all your securities-servicing needs. MANUFACTURERS HANOVER America’s premier correspondent bank Membe National Division, 270 Park Avenue, New York, N.Y. 10017 f d ic 4 A B A N K ER SPEA KS... ON IMPROVING E M P LO Y E E PRODUCTIVITY Kenneth H. Petersen Operations Manager United States National Bank Omaha, Nebraska “The U. S. National Bank is always interested in improving employee productivity and reducing expenses. The Return Item Processing system from Data Management Products and the PERTEC XL40 computer enabled us to accom plish both. In addition, the system has reduced research time, improved audit controls and virtually eliminated overtime. Data Management delivered a system to meet our needs a-nd con tinues to provide us w ith new solutions.” PROVEN SOLUTIONS FOR: • RETURN ITEM PROCESSING WE HELPED US NATIONAL... WE CAN HELP YOUR BANK TOO! • NON CASH ITEM/COUPON COLLECTIONS PROCESSING • SAFE DEPOSIT BOX PROCESSING To receive further information— Call toll free . . . Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Data Management Products, Inc. 808 SOUTH 74th PLAZA SUITE 106 OMAHA, NEBRASKA 68114 1- 800- 228-5505 5 W illia m C. Wheeler Leads AIB As New President Pledging that the American In stitute of Banking will continue to # ie e t the changing educational needs of America’s Full Service Bankers, William C. Wheeler began his term as 1982-83 president of AIB during the American Bankers Association’s #vIB Conference in Dallas June 2. Mr. Wheeler is vice president and auditor of the United Counties Trust Company, Linden, N.J. He succeeds Ronald G. Wilson, as sista n t vice president of Valley Na tional Bank, Phoenix. “ AIB as an organization has un dergone incredible changes in recent years,” Mr. Wheeler said, referring S o the three-year reorganization plan adopted by the membership in 1980. “ This year, we’ll follow through on implementing and fine-tuning recent changes and break new ground when S eed ed .” Under the reorganization plan, to be completed in June 1983, A IB ’s structure will be more closely aligned ^vith that of both its parent organiza tion , the ABA, and the 52 state bank ers associations. Roy E. “ Ned” Huddle, Jr., ex ecutive vice president of the First R a tion a l Bank of Rio Arriba, EspanS la , N.M., was elected 1982-83 pres ident-elect of the AIB. STERN No. 1426 89th Year JULY 1982 MEMBER OF AUDIT BUREAU OF CIRCULATION MEMBER BANK MARKETING ASSOCIATION cat OLDEST FINANCIAL JOURNAL SERVING THE CENTRAL AND WESTERN STATES ON THE COVER Extensive reports and picture coverage of five state banker association conven tions are presented in this issue and 1982-83 officers elected at these conven tions are pictured on the front cover of this issue by N o r t h w e s t e r n B a n k e r cameras. At top left are Wyoming officers, shown against the magnificent backdrop of the Grand Teton mountain range at Jackson Hole, Wyo. (page 57). At top right are Minnesota officers, photographed at the convention in St. Paul (page 36). At middle right are Illinois officers at their convention in St. Louis (page 27). At bottom right are Colorado officers, framed against the background of the stately Broadmoor Hotel in Colorado Springs (page 64). At lower left are North Dakota officers. From left, are: Pres.—John McGinley; Pres.-Elect— Darold Petersen; Vice Pres.-Treas.— Robert Westbee; Past Pres.—Tom Roney, and Exec. Dir.— Harry Argue (Page 53). FEATURES 15 Nebraska banker fights back Ray Tiedje forms cash management MMF to compete nationally 16 Offers multiple EDP sites Midwest firm now serves banks in 13 states 20 Banco offers MasterCard II Debit card accesses checking accounts on worldwide basis ^Daktronics Offers Seminars Daktronics, Inc., Brookings, S.D., in an effort to provide extensive training on the operation of its equipSnent, is offering annual annual sem inars and workshops designed to help present and future customers gain maximum benefits from their scoreboard and information display •nvestment. Maintenance and operator work shops also are offered. They are de signed to help Daktronics dealers, representatives, and salespeople as ^Ivell as the customers in-house tech nician to become more effective and more efficient in their work. The seminars specifically address the ad vantages offered by Daktronics pro d u c t s and how these advantages translate into customer benefits. For more information on Daktron ics Sales & Service Seminars and X)perators Workshops contact: Dakdronics, Inc., P.O. Box 128, Brook ings, South Dakota 57006. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 New ag lending funds MABSCO initiates competitive rate source CONVENTION REPORTS AND PICTURES 27 32 36 53 Illinois I mois AMBI Minnesota North Dakota 57 Wyoming 64 Colorado 82 Iowa Groups Second Week DEPARTMENTS 6 6 8 44 Calendar Letter to Editor Bank Promotions Twin Cities 52 60 71 72 74 77 78 90 South Dakota Montana Nebraska Omaha Lincoln Iowa MB Program Des Moines NORTHWESTERN BANKER 305 15th Street, Des Moines, Iowa 50309 Publisher & Editor Ben Haller, Jr. Associate Publisher Steve Burch Phone (515) 244-8163 Associate Editor Becky McBurney Consultant Malcolm K. Freeland No. 1426 Northwestern Banker (USPS 397-620) is published monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscription $1.50 per copy. $15 per year. Second Class postage paid at Des Moines, Iowa and at additional mailing office. POSTM ASTER: Send all address changes to Northwestern Banker, 306 Fifteenth Street, Des Moines, Io\Va 50309. Northwestern Banker, July, 1982 6 Convention Calendar V ABA—American Bankers Association AIB—American Institute of Banking BAI — Bank Adminstration Institute BMA— Bank Marketing Association IBAA— Independent Bankers Association of America NABW— National Association of Bank Women, Inc. RMA— Robert Morris Associates National Conventions & Schools July 11-16—ABA Natl. Advanced Ag Bank ing School, Iowa State Univ., Ames. July 19-20— IBAA Spread Analysis and Asset/LiabiIity Management Workshop, Denver, Colo. July 25-30— Midwest Banking Institute, Univ. of Minn., Morris. July 25-Aug. 6— BAI School for Bank Ad m in is tra tio n , Univ. of W is c o n s in , Madison, Wis. Aug. 2-3— IBAA Spread Analysis and Asset/Liability Management Workshop, Lake Tahoe, Nev. Aug. 8-21 —Herbert V. Prochnow Graduate School of Banking, Univ. of Wise., Madison. Aug. 16-20— BMA Essentials of Bank Marketing School, Lake Forest College, Lake Forest, III. Aug. 22-25— IBAA Seminar/Workshop on the One-Bank Holding Company, San Francisco, Calif. Aug. 29-Sept. 3— IBAA 22nd Seminar for Senior Bank Officers, Boston, Mass. Sept. 19-21 — IBAA Commodity Marketing Seminar, Chicago, III. Sept. 19-22— NABW 6th Annual Conven tion, Los Angeles Bonaventure, Los Angeles, Calif. Sept. 19-Oct. 1—ABA National Instalment Credit Schools, Univ. of Oklahoma, Norman. Oct. 10-15— IBAA Bank Executive Develop ment Seminar, Muncie, Ind. Oct. 16-20—ABA Annual Convention, A t lanta. Oct. 24-27— BMA 67th Annual Convention, Phoenix Civic Plaza, Phoenix, Ariz. Oct. 31-Nov. 3— RMA 68th Annual Fall Con ference, Sheraton, Bal Harbour, Fla. Oct. 31-Nov. 3— IBAA Seminar Workshop on the One-Bank Holding Company, New Orleans, La. Nov. 14-17— BAI 58th National Convention, Hyatt Regency, Houston, Tex. Nov. 15-16— IBAA Spread Analysis and Asset/Liability Management Workshop, Dallas, Tex. Nov. 15-19— BMA Essentials of Bank Marketing School, Univ. of New Hamp shire, Durham. State Conventions & Schools Colorado: Sept. 15-18—Colorado Independent Bank ers Association Annual Meeting and Convention, The Lodge at Vail, Vail. Illinois: Aug. 8-13—IBA Consumer Lending School, EIU, Charleston. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Sept. 15-16— IBA Ag Credit Conference* Ramada Inn, Champaign. Sept. 29-Oct. 1—AMBI Retail Banking Con ference, Indian Lakes Resort, Bloomingdale. Oct. 5-6—IBA Trust Conference, Radisson, St. Louis. Nov. 14-18—AMBI Commercial Lending In stitute, Univ. of Illinois, Champaign. Iowa: J u ly 22-24 — 11B A n n u a l C o n ve n tio n , Okoboji. Sept. 19-21 — IBA Annual C onvention, Marriott Hotel, Des Moines. Minnesota: July 25-30— Midwest Banking Institute, Univ. of Minn., Morris. Aug. 19-22— IBM Annual State Convention, Arrowwood Lodge, Alexandria. Montana: Aug. 24-27—79th Annual Convention Membership Meeting, Banff, Canada. & Nebraska: Sept. 13-14— NBA Ag Credit Symposium, Lincoln Hilton, Lincoln. North Dakota: Sept. 15-17 — Independent C om m unity Banks of North Dakota Convention, Holi day Inn, Jamestown. Sept. 27— NDBA Northeast Group Mtg. Sept. 28— NDBA Northwest Group Mtg. Sept. 29— NDBA Soutwest Group Mtg. Sept. 30— NDBA Southeast Group Mtg. Oct. 26-27— NDBA Bank Women’s Con ference, Jamestown. Nov. 17-18— NDBA Consumer Credit Con ference, Mandan. South Dakota: Oct. 7-8—SDBA Instalment Credit & Retail Banking Conference, Sheraton, Yankton. Oct. 27-28—SDBA Economics Seminar for Young Adults, Holiday Inn, Mitchell. Wyoming: Sept. 23-24—WBA Installment Loan Con ference, Hitching Post Inn, Cheyenne. Nov. 12-13—WBA Chief Executive Officers Conference, Ramada Inn, Casper. L etter to the Editor “Frank Warner is gone. On M a y 11 the dean o f Iowa hankers m oved on to a new field. When I started banking hack in 1925, one o f the first men I m et was Frank Warner; I believe it was at a group meeting at Lenox, Iowa. To me, Frank at once became Mr. Iowa Banker. H e had only one thought and that was the promo tion o f Iowa bankers. “.B eing secretary during that time was not an easy task. H e was to see many of his banker friends pass from the picture as their banks failed during the depres sion. Each closed bank was a personal loss to Frank; he knew all those men that had been in those banks. “I g ot to know Frank better than so/r® because I would see him quite often. M y uncle, E.C. Fishbaugh, was on the State Banking Board at that time and he had to go to board meetings each month in D es Moines. Sometimes, I would drive him ^ the meeting. Each time we would stop and see Frank and he would be cheerful and praising the Iowa bankers. I t was at the state conventions that Frank really showed his quality. Each convention that he hosted was outstanding. H e got tlW best speakers and Iowa was the envy of all other states. Over the years I have at tended many national conventions and not one o f them was ever up to the high quality o f those conventions that Fran£ organized. “I can hear Frank yet. H e would look out over the crowd and say: T f you please —’ and then would give a concise and accurate account o f what was hai^ pening in the banking field. H is a d vitt was always sound and he was always ahead o f the banking trends. “Frank was an idealist and he did more to prom ote sound banking than any banker or group o f bankers in the sta t& ‘So, Frank let me say your service o f 50 years to the Iowa Bankers can never be duplicated. I was right back in 1925 when I looked upon you as Mr. Iowa Banker. That is an accomplishment that will hard for anyone else to match. ” C.W. Fishbaugh, Fifty Year Banker— and a friend. Security Trust and Savings Ban \£ Shenandoah, la. Marketing Tip of the Month ^ Is there a member of your staff who is especially good at giving parties? If so, you may want to enlist that person’s help in put ting together an inexpensive program that is guaranteed to make a positive impres sion on the community and one which w i# make certain special people very happy. The idea is to give birthday parties for the bank’s elderly long-time depositors. Casual conversation or a quick check with relatives via bank records can reveal the names of three or four of the c lie n t ^ closest friends. A few phone calls are made and then on the appointed day, the depos itor is asked to come in to the bank on some pretext and ... surprise! For the price of a few balloons, stream ers, a pot of coffee, and a decorated c a k ^ the bank has said “ we remembered” to one of its most loyal customers. And, as a result, the bank may get more than a “ thank you” in return as grateful cli ents bring in funds from other institutions, and relative and friends transfer a c c o u n ts in response to your thoughtful gesture. (One bank that has used this idea has gained substantial new deposits as a result.) For more information, contact Charles E. Bartling, Communications Division, Bank Marketing Association, 309 West WashinJP ton Street, Chicago, Illinois 60606. Phone: 312/782-1442. ’When it com es to custom er preference*, .other travelers cheques don’t stack up. In fact, they d on ’t even com e close. In a recent national survey, a majority o f travelers ® e q u e users said they want A m erican Express® the next time they buy travelers cheques. W h ich isn’t surprising en you consider that only A m erican Express offers five spe cial services to help protect your customers’ vacation if their trav elers cheques are lost or stolen. W e can help cancel lost credit cards, issue a temporary ID, and cash a personal check for up to $200. W e even have a 24'H our Travel Service Hotline if your customer needs help changing travel plans. A n d an Emergency Message Service if they want to send a message hom e. C om bine all that with our 60,000 refund locations and nearly 1000 worldwide Travel Service Offices and you’ll see why most travelers cheque users feel A m erican Express is the best brand. S o d on ’t settle for less. A majority o f travelers cheque users want A m erican Express. A n d if you d o n ’t have them, they may start asking around. American Express Travelers Cheques https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AMERICAN! ■EXPRESS 8 r Bank Promotions V ROMOTIONS and other an nouncements have been made by the following banks and holding companies: Bank of America, San Francisco: Executive Vice President Lawrence E. Nerheim will head a new world wide unit providing services for cus tomers having highly specialized banking, securities, investment management and financial planning needs, President Samuel H. Armacost has announced. Appointed to executive vice presi dent to succeed Mr. Nerheim as head of the bank’s trust department was Clyde R. Claus. The board of directors announced these four senior level appoint ments: Senior Vice President John O. Wilson, 44, director of economicspolicy research, appointed chief economist for the bank. Allen W. Sanborn, 40, formerly group vice president and head of credit and marketing at B ofA ’s Lon don Branch, designated senior vice president and head of corporate banking for California division. Irwin L. Gubman, 40, vice presi dent and associate general counsel in the legal, legislative and bank tax department, named senior vice pres ident. Timothy Warner, 43, senior vice president and manager for asset and liability management, appointed senior vice president for trust in vestments and executive vice presi dent for fixed income management at BA Investment Management Cor poration, BAIMCO, a subsidiary of BankAmerica Corporation. Continental Illinois National Bank and Trust Company of Chi cago: Richard P. Keigher has joined the bank’s trust and investment ser vices department to head the asset management group for employe ben efit plans. Mr. Keigher most recently was vice president and head of the in vestment management group of Mellon Bank, N.A. in Pittsburgh. William H. Grove, vice president in the loan administration division of Continental Bank’s corporate financial services department, re tired June 30 after more than 46 years of service. P Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mr. Grove, of Homewood, 111., joined Continental in 1935 as an of fice boy. He worked in various divi sions within the bank before joining the commercial banking services de partment, where he was elected an assistant cashier in 1955, a second vice president in 1960 and a vice president in 1964. He was named group head of the national division in 1969 and called on the correspon dent banks in Illinois, Indiana and Iowa until joining the bank’s loan ad ministration division in 1975. He is a 1960 graduate of the Uni versity of Wisconsin and a 1969 graduate of the University of Illinois executive development program. Commerce Bancshares, Inc., Kan sas City: The Federal Reserve Sys tem has approved the application of Commerce Bancshares to permit af filiation between it and Plaza Banc shares, Inc., a one bank holding com pany, with controlling interest in the Plaza Bank & Trust Co. The affiliation will be effected by a merger to be voted on in the next 60 days by the shareholders of Plaza Bancshares. Upon completion of the affiliation process, Plaza Bank would be the 40th affiliate bank of Commerce Bancshares, Inc. Commerce Bank of Kansas City, N.A., Kansas City: Ernest A. Yake has been named senior vice pres ident and manager of the corre spondent department. He will be re sponsible for the bank’s more than 900 correspondent account relation ships nationwide. He previously served as president and chairman of the board of Commerce Bank of Moberly. Mr. Yake joined the Commerce organization in 1978. Prior to that, he served in senior management po sitions with two Kansas City area banks from 1972 to 1978. H.D. (Joe) Hale, Robert E. Har mon and Lamson Rheinfrank, Jr., have been elected to the board of directors. Mr. Hale is president of ADM Milling Company, Shawnee Mission. Mr. Harmon is chairman of the board and president of SAB Harmon Industries, Inc., located in Grain Valley, Mo. Mr. Rheinfrank is president of Standard Havens, Inc., Kansas City. First Midwest Bancorp, Inc., St.® Joseph, Mo: Roger A. Hegarty, chair man of the board, has announced the following addition and promotions at the First National Bank and the First Stock Yards Bank in St.® Joseph. J.R. SCHATZ C. BIERI S. WALSH J. BROWNE James R. Schatz, cashier at the First Stock Yards Bank since 1977, has joined the staff at First National Bank as assistant vice president, commercial loan and real estate loan* officer. Before coming to St. Joseph, Mr. Schatz had served as cashier at the Bank of Riverside in Riverside, Mo., 1972 through 1977. Carolyn Bieri has been promoted* to assistant vice president compli ance officer and security officer at the First Stock Yards Bank. Mrs. Bieri began her banking career in 1971 at the First Stock Yards Bank^ as secretary, and in 1977 she was promoted to assistant cashier and real estate loan officer. Shirley Walsh was promoted to assistant vice president and facility manager at First Stock Yards Bank, King Hill Facility. Mrs. Walsh has been employed at First Stock Yards Bank since 1949 and has worked in. general bank operations and as a ' teller until her promotion to assis tant cashier in 1975. She also is a personal banker and the dimension 60 coordinator at the facility. ^ Jolene Browne, former operations officer in charge of bookkeeping, transit and teller operations at the First Stock Yards Bank, has been promoted to assistant vice presi- < dent-cashier. She has been on the staff at First Stock Yards Bank 16 9 HowTheFirstTkmmakesFirstChicago yourpartnerinKankakee,KansasCity, amlKakmmzoo. When you need the support of a money-center bank, think first of First Chicago. Why? Because we’ll provide widmranging services and fast, decisive responses. Because we offer you a true partnership that supports instead of supplants. And because we give you the services of The First Team to deliver all our resources when and where you need them. Tom King, Vice President, explains: “ Every member of The First Team, from your relationship manager to the specialist in key financial areas, respects your position in the marketplace. We make it our business to back up your relation ships with strong, state-of-the-art products and services!’ Jack Clark, Vice President: "First Chicago has created a new area called Credit Marketing Services which helps our relationship managers provide a streamlined credit process and fast response. Anytime.” Adds Don Boreman, Assistant Vice President: “ Our relationship managers know your region thoroughly. Being based in Chicago, they provide the vital link that brings the expertise of all other members of The First Team directly to you and your customers.” Get The First Team working with you in Kankakee, Kansas City, Kalamazoo, wherever you are. Call Tom, Jack, or Don at (312) 732-4100. FIR ST CHICAGO The First National Bank of Chicago THE FIRST TEAM The First National Bank o f Chicago • M em ber FD.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 10 years holding various positions as bookkeeper, supervisor, and oper ations officer. First National Bank of Kansas Ci ty: J.M. “ Pete” Buckley has been promoted to investment officer. He recently joined the funds manage ment division staff, where he is re sponsible for the sale of short-term taxable securities and money mar ket instruments to the correspon dent banks. Harris Bank, Chicago: Plans to merge the national and metropolitan banking departments into a single department have been announced. The major restructuring, largely an outgrowth of the bank’s recent strategic planning activities, will be conducted in phases and completed by year-end. The new banking department will be headed by Ben T. Nelson, exective vice president and former head of the metropolitan banking department, and John A. Sivright, executive vice president, who was responsible for the national banking department. J.A. SIVRIGHT B.T. NELSON While the two will share admin istrative duties of the department with various groups reporting to each, primary executive responsibili ty will be assumed by Mr. Nelson. The restructuring involves a re alignment of groups and divisions. Chairman Charles M. Bliss said the decision to restructure banking activities came after about a year and a half of intense strategic plan ning, during which the bank exam ined ways to best position itself for a deregulated banking environment, increased competition from banking and non-banking sources, and to provide better service to banking customers. Five corporate banking groups and one staff group will report to Mr. Nelson and Mr. Sivright. They are: U.S. Banking Group I, Randall B. Becker, vice president; U.S. Banking Group II, Charles H. Davis, vice president; Midwest Banking Group, Edward W. Lyman, Jr., senior vice Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis president; Cash Management Group, Roger A. Molzahn, vice president; Corporate Finance Group, Peter D. Morris, vice president, and Banking Department Staff, P. David Hub bard, senior vice president. Six corporate special industry groups report to the newly desig nated special industry groups man ager, Edward K. Banker, senior vice president, who, in turn, reports to Mr. Nelson and Mr. Sivright. These six groups and their man agers are: Agribusiness Group and Commodities Group, both led by Bruce F. Osborne, vice president; Asset-Based Lending Group, Neal D. Elkin, vice president; Commercial Real Estate, Patrick B. Davis, vice president; Energy Group, H. Charles Becker, senior vice president, and Financial Institutions Group, J. David Cox, vice president. Mr. Nelson will continue to over see the bank’s consumer banking and charge card business. International banking will continue to report to Philip A. Delaney, executive vice president. Thomas F. Jones, Jr., has been named president of Harris Trust Company of Arizona, subsidiary of Harris Bankcorp, Inc. Mr. Jones, who was senior vice president in the personal trust group of Harris Bank, assumed his new duties July 1 at the Scottsdale-based trust subsidiary. fitability, service requirements,® growth potential and Manufacturers Hanover’s position in 15 selected markets. Specific realignments include: •International—Douglas E. Ebert® and Donald G. McCouch to executive vice presidents, succeeding Dwight G. Allen, who retired July 1. Mr. Ebert is responsible for Europe/Mid-^ die East/Africa and Mr. McCouch for® Asia/Latin America. Bruce F. Hen derson, Morgan B. Procter and John J. Simone were elected senior vice president and deputy general mana-g gers. ™ •Retail Banking Division—Ed ward D. Miller to executive vice president in charge for all nationwide retail banking activity, including the^ more than 200 New York area bran ches and the 411 offices in 27 states of Manufacturers Hanover Con sumer Services Inc. •Metropolitan Corporate Banking^ Division—Lindsay Macarthur and Frank C. Wright to senior vice presi dent and deputy general managers. Edward A. Farley, executive vice president, continues to lead the new-® ly constituted division. • N a tion a l D iv is io n — T h ree distinct lending groups: Banking, corporate and energy, with Merrill O. Burns to senior vice president and® deputy general manager in charge. Energy group, with Conrad P. Albert to senior vice president and deputy general manager. Corporate group— John J. Sullivan, senior vice presi-® dent and deputy general manager. Donald H. McCree, Jr., executive vice president, continues in charge of the newly structured division. •Operations division—Howard P. ® Sorgen, senior vice president and general manager to head a new wholesale global operations unit. John J. Evans, executive vice presi dent, continues to head the division. ® Harris Trust and Savings Bank, Chicago: Jon S. Brightman has re cently joined the bank as vice presi dent and head of the trust depart ment’s institutional asset servicing division, focusing primarily on mas ter trust operations. He previously served as vice pres ident and manager of the Milwaukee office of Meidinger, Inc., employe benefit consulting firm. Susan E. Davis has also joined the bank as vice president and head National Boulevard Bank of of the trust department’s personal trust development division. In the Chicago: Robert Bain was named post, she is in charge of sales of trust assistant vice president and man ager of the teller division and ® services to individuals. Manufacturers Hanover Trust Company, New York: A series of senior management appointments re flecting a realignment of several ma jor divisions, part of a continuing ef fort to place greater emphasis on pri ority market segments, have been an nounced by John F. McGillicuddy, chairman and chief executive officer. He said, “ These changes are the re sult of a two-year review of the pro R. BAIN P.K. RUSCHMEYER 11 a ï ’ s lß v « S » S cW \f\àe° . ,dosWN ,ed \s \aô ,\ape ioôaW *eX „ « » p. „ e. t>a<* stiW (oWa ^ nn'\^ rt°sS \o xe\e^v ¿ad ,eW 0) tie* c°'r'toWSV®ie " rt o ü ^ ^ e r Uprf>VWN,eeS' t 'V ^ ^ e t s , X°a°d V\^° 'ce ease toed \oPra o^ •ce o^etS N svi'0' sv>w ÍS & S & Í& - dt R B a^ ! P ^ 8 0 ^ StP e«eC^ ? a s “^ , S’ ao d ^ ud" W ëS SS sS? “Sote- « * ! * £ e « # ^ « * * * ? £ * * e « ^ l « e p<000^ p p ° oS ; « **" * o t o P '^ 5 «PSSSJSS^KSS V ^ V tìS> " O* vedi raos^ cvii i ® 430'6 ' .re » s ' c3Ä corJ'00' ,- \fvôs° bB , , w „ . 6 a^ ® p acV.a9e - S®P ta^e xoW^ee’ xodeM- P'00"* ¡¡SSÈS®*^0** V ^ <pap „ S6 S -5 | T ,1 vso°:S^9 X\a\o^a https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ca^ Northwestern Banker, July, 1982 12 Pamela Ruschmeyer became a cor respondent banking officer. Mr. Bain joined National Boule vard after six years with Unity Sav ings Association. Mrs. Ruschmeyer joined the bank as a correspondent banking repre sentative, having previously been employed as a senior account ana lyst in the surety division at Travelers Indemnity Company. The Northern Trust Company, Chicago: The board of directors re cently announced the following pro motions and new appointments: Promoted to vice president were: Isidor Fischer, Linda H. Higinbotham, William H. Miller and Linda A. Rinner in the operating department; Ronald C. Kok-Alblas and William E. McClintic in the trust depart ment, and Michael M. Ellis and Jorge L. Viera in the international department. Promoted to second vice presi dent were Richard H. Brown, Steven C. Brown, Philip R. Gilboy and Har ry G. Kluender in the bond depart ment and Orrin J. Bargerhuff and Edward J. Malysiak, Jr., in the trust department. Northern Trust Corporation, Chi cago: Announcement was made of the recent purchase by Northern Trust Corporation, parent of the Northern Trust Company of O ’Hare Banc Corp., a one-bank holding com pany for O ’Hare International Bank, a nationally-chartered bank. Northern Trust paid $32.61 per share, or about $20.1 million, for the $166 million asset O ’Hare Bank. Following the acquisition and pending regulatory approval, North ern Trust Corporation plans to change the name of the bank to Northern Trust Bank/O’Hare N.A. This new name should be effective July 1. Wells Fargo Bank, N.A., San Francisco: L. Lance Johnson has joined Wells Fargo A g Credit’s Den ver headquarters as senior vice president, loan administration. In his new position, he will be responsi ble for the approval of all new and ACORN Registers Accepted Sale Registers by Bank Clerks Everywhere" Tor information write •o THE ACORN PRINTING CO. * Oakland, Iowa Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis John J. Crotty, Jr. (right), sr. v.p., at Drovers Bank, adds a 228th pin, depicting the Uptown National Bank of Moline (III.), to his map of Drovers’ correspondent customers. Frank IA Farrar, president of Uptown Bancorp, Inc. of Moline, owner of Uptown National, looks on. Drovers Bank Adds 228th Respondent ROVERS Bank of Chicago re cently signed Uptown National Bank of Moline as its 228th respon dent bank. This tops the all-time high of 227 correspondent relationships set by Drovers Bank in 1974, accor ding to John J. Crotty, Jr., senior vice president and head of corre spondent banking. Drovers Bank, with $285 million in assets and operated by the ColeTaylor Financial Group, is among the ten largest correspondent banks in Illinois with correspondent bal ances of more than $22 million. “ Throughout its history, Drovers always has been known as an inde pendent bank with a substantial reputation and position as a cor respondent bank,” said Mr. Crotty. At the time Cole-Taylor assumed ownership of Drovers in 1978, t h # bank’s number of respondents had dropped to 65. “ Since then, we have been able to almost quadruple that number and return Drovers to it ranking as one the top corresponden# banks in the state,” said Mr. Crotty. He attributes that success to the fact that correspondent banking is a primary, not a secondary aspect of Drovers’ business. d In addition to the Drovers Bank of Chicago at 47th Street and Ashland Avenue, Cole-Taylor Financial Group also operates Main Bank of Chicago at 1965 Milwaukee Avenue and h a ^ received final approval from the Federal Reserve System’s Board of Governors for the acquisition of the Bank of Yorktown at the Yorktown Shopping Center in Lombard. ® renewal loans and the supervision of workout loans. In addition, he will oversee the firm’s collateral control department. Mr. Johnson’s banking experi ence includes 16 years with Colorado National Bank, Denver, where he most recently was vice president in charge of the correspondent banking and agricultural departments and the national and international areas. Laurence G. (Lon) O ’Neil has been elected a vice president of the Wells Fargo Bank. He is in the interna- tional banking group personnel de partment. Mr. O ’Neil, formerly an^ assistant vice president, joined the^ bank in 1981, with seven years ex perience in personnel and social ser vices. Joseph E. Duncan has joined^ Wells Fargo Realty Services as vice president, operations, according to James V. Marmorstone, president of the Pasadena-headquartered firm. Mr. Duncan was formerly division 0 operations manager for Allstate In surance Company. D Paint a brighter earnings picture. The Northern Trust can help your bank generate more profits. The Northern Trust has a reputation for providing out standing assistance to corre spondent banks. Expertise in areas most crucial to your earn ings built that reputation. Inno vation and the closest personal attention to detail maintain it. Our safekeeping expertise can help make your portfolio easier to manage. Our cash let ter service will help you take better advantage of overnight money markets. Both rank among the fastest, most accu rate systems available any where. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The Northern Trust’s prom inent position in primary and secondary bond and money markets can give you and your customers greater selection and ready liquidity. We’ll also pro vide in-depth portfolio analysis and advise you on investment, tax and related asset and liabil ity planning. For planning short- and long-term profitability, The Northern Trust’s consulting services are unique among Chicago banks. We have the capability and experience to find first-hand answers to any ques tions about banking you may have. You’ll find every officer of The Northern Trust is a trained specialist in correspondent ser vices who has the authority to act fast. If you’d like to profit from our experience, contact Curtis E. Skinner, Senior Vice President, The Northern Trust, 50 South La Salle Street, Chicago, Illinois 60675. Tele phone (312) 630-6000. Member F.D.I.C. The more you want your bank to do, the more you need The Northern. The Northern Trust 14 Just about any correspondent bank can lend you money. What you usually can't get is responsiveness and service. Especially from a majority of downtown city banks. Correspondent banking isn't as important to them as it was ten or twenty years ago. They've got other irons in the fire, like the Fortune 500 companies they cater to, and multi-million dollar deals. We added 42 correspondent banks at Drovers Bank of Chicago in 1981 and these relationships are important to us. And that makes you important to us. At Drovers Bank, you deal with quick-thinking people who expedite and faithfully follow through on any and all correspondent services you want and need. Our people have specialized knowledge in every service area of correspondent banking. You get the benefit of top level thinking and top level service every working day. Call John Crotty toll-free at 800-621-8991 (in Illinois, 800-572-2498). Put our mental and financial resources to work for you. They're yours for the asking. The Responsive Correspondent Drovers Bank of Chicago 47th & Ashland Avenue, Chicago, Illinois 60609, 312-927-7000 Member, Cole-Taylor Financial G roup—Independent Banks Working Together Member Federal Reserve System and F.D.I.C. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15 P I G H T I N G BACK against unregulated money ™ I market fund competitors who have drained sub stantial deposit totals from community banks has be come an exciting, profitable venture for a Nebraska community banker. ^ When Raymond G. Tiedje, president of the $22 mil l i o n asset Bank of Norfolk saw the inroads that major money market fund operators like Merrill Lynch were making into available funds from residents of his trade area, he decided to strike back. Accomplishing that— ^ given the fact that he lived in Norfolk, a town of only w 19,000 people in northeast Nebraska, and that the so phistication of Wall Street firms was unchallenged be cause they were unfettered by restrictive banking regulation—seemed highly unlikely. None the less, “ in^novation is the answer, survival is the goal.” With that in mind, this small community banker has devised a legitimate way for other community bankers to join in his campaign to ‘ ‘fight back” and, in the pro cess, preserve the nation’s community banking sys0 te m . Mr. Tiedje has developed a Cash Management mon ey market fund for his bank, as well as a method of buying, selling and trading securities and precious metals for customers. Has it worked? Since January, 0 1 9 8 2 , when he began direct marketing of the new con cept to people in his area, through May, Bank of Nor folk has drawn in a little over $2.9 million in money market fund sales alone. “ About 50% of this money has come back from brokers and s&ls,” Mr. Tiedje 0 notes, “ and the rest has come from various types of in struments our customers had in other accounts here. “ We make a 2V2% spread on funds, justified by dayto-day Fed Funds, and we pay 1% under the Money Market CD rate. All funds stay local for use here. We • think it’s better then M ABSCO.” Getting into his cash management program took startup time that Mr. Tiedje now shares with other community bankers by membership in the Indepen dent Communtiy Bank Network, Inc. “ Through micro• computers and telephone modem switching, each fran chise bank will be able to provide management of Mon ey Market Funds, as well as the method for buying, selling or trading securities and precious metals for its customers,” Mr. Tiedje emphasizes. “ As a result of the • Monetary Control A ct of 1980, which will eliminate Reg Q in six years, MMMFs have been coming on strong, and community banks must provide these ex panded products and services to compete. ICBN gives the community bamk that expanded ability,” he ® belives. After reading of the dramatic successes made by various MMMF operators 18 months ago, Mr. Tiedje made a trip into Chicago to look at a plan there with the thought of using it in his bank. “ It was way too ex• pensive for us,” he recalls, “ well over $200,000.” After returning home he continued to mull the problem and potential solutions in his mind. “ I thought at first we could do a ‘ sweep’ for our accounts through our old _ NCR Postronic machine in the office,” he said, “ but ^ our young people talked me out of it. We continued anaylyzing the problem, the possible solutions and set goals for what we wanted to do. “ I decided that to compete, we needed two things: ^ “ *A Cash Management account, and “ •Ability to buy, sell and trade securities and precious metals. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Small Nebraska bank - Fights back, sco re s with cash m an agem en t M M F A N orthw estern B anker interview with RAYMOND G. TIEDJE President Bank of Norfolk Norfolk, Nebr. After reviewing capabilities of the new micro-com puter, we invited an area Catholic priest, who had con siderable experiecne with these computers, to do a soft ware program for us. Fr. G. had created other marke table software programs designed for secondary educa tion curriculum, grading and scheduling. He made two or three visits to our bank in July, 1981, to confer on specific banking terminology and applications. In Au gust, he brought in an Apple II floppy disc with the program. We changed the program once in October, showed it to a group of CPAs about that time, tested it in the bank on our micro-computer, and began the di rect marketing last January. “ We operate our precious metals program through the First National Bank of Chicago. We are presently working on a securities agreement with First Mid America Inc. of Lincoln and Omaha on a discount fee to the banks involved. This is sold through the ICBN. “ Through our software program we get into MMMFs; through the phone modem hookup on micro-computer we’re into the securities.” Other community bankers saw immediately the val ue of what Mr. Tiedje had developed at the Bank of Norfolk, so development of the Independent Communi ty Bank Network, Inc., was a logical followup. This is not a franchise operation, to avoid any conflicting pro blems with the SEC and state regulations, so is sold entirely on a membership basis. “ We will make arrangements for the computer to be purchased and installed,” Mr. Tiedje states, “ but we suggest that the bank get its own computer locally whenever possible so it can obtain any needed service locally. Our people install the software program and train the bank employees’ on its use. At present, the program costs $5,000 for hardware and $2,000 for the software. Once the securities portion is in place, the en tire software and membership concept will go to $5,000 and each participating bank will be a member in ICBN.”____________________________ , NEBRASKA BANKER FIGHTS BACK... (Turn to page 25, please) Northwestern Banker, July, 1982 16 Iowa firm offers multiple sites for bank EDP Frank Marinelli, on the left, chairman and president of North American Financial Ser vices, Ltd., with Bill Carr, executive vice president, and Jack Oberding, vice chair man of the board on the right. T TAKES one kind of expertise to provide financial services. It takes a wholly different kind to provide electronic data processing. Only the very largest financial institu tions—those with assets of $300 mil lion and more—can afford to at tempt both. That, in summary, is the guiding philosophy of North American Fi nancial Services, Ltd., a holding company for eight computer centers that serve 60 financial institutions in Iowa, Illinois, Indiana, Delaware, Arkansas, Oklahoma, Louisiana, Florida, Tennessee, Missouri, Vir ginia, Georgia and Kentucky. North American headquarters in Daven port, la. I mits projections of data processing expenditures for two years beyond the normal period provided by other outside service bureaus. This, in an inflationary period like the present, is very attractive. Perhaps of even greater impor tance, however, is the fact that the North American subsidiaries offer their users all of the inherent advan tages of realtime and online memo processing. Nothing is done in batch mode. Users Retain Own Documents As a result, users retain all of their original documents. Since nothing is transported physically, nothing can get lost in transit or mixed with the work of someone else. In addition, Adding New Clients experts from the computer centers The numbers are probably out of provide user personnel with training date even as they are written, for in bulk filing, remote job-entry tech North American’s subsidiaries are niques and many other operationsadding clients at an accelerating related areas. pace. Several of the institutions for The North American system uses merly had in-house operations. By two data streams. One is for online abandoning that route, they relieved communication by administrative themselves of having to keep pace and teller window terminals and with technological innovations, A T M ’s, the other is for distributed North American executives noted. processors at the user site for the “ They can also go home at 5:30 high speed transmission/reception now and know that we’ll take care of of data. any problems that come up,” a Both data streams are transmit spokesman added. “ They no longer ted over a single, dedicated phone get any of those anxious phone calls line for maximum economy. The at 2 and 3 o ’clock in the morning. cost is well within the reach of even Another selling feature, no doubt, a small institution, a North Amer is a three-year contract, which per ican spokesman stated. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Equipment Usage Computer center clients are free^ to use any proofing mode they wish, either multiple-designation or sin gle-pocket POD. Some, using NCR 7750 units, are able to capture all data at that point on tape cassettes^ or by transmission from in-houseW processors. More commonly, however, after all documents have been proofed and fully MICR-encoded, they are a taken to an 11-pocket NCR 675 reader-sorter, which is online to an in-house, 128K NCR 1-8257 proces sor with 10 to 20 megabytes of mag netic disk storage. This approach q utilizes the hardware vendor’s MiniVIPS (Variable Item Processing System). In all cases, the users are free to determine their own endpoints for £ checks, that, coupled with the new Federal Reserve charges for process ing, can have a significant impact upon profits. This can be paired, a North 0 American spokesman said, with an important benefit of users doing their own remote job entry. Next-Day Availability Since client banks can handle ® misreads and exception items as they occur, they can get next-day availability on 85% of their funds, versus only 25% when documents £ must be sent out for data-entry preparation. 17 Let’s all get together at this year’s Iowa Bankers Convention. Jerry Pearson Bob Stenbeck Jerry O'Connor Deborah Wilson Ed Kennedy Hubert and his team of Harris Bankers for Iowa look forward to greeting their old friends and meeting new ones. We’ll see you at the Iowa Bankers Association Convention in Des Moines from September 19th through 21st. HARRIS BANK. Harris Trust and Savings Bank, 111 W. Monroe St., Chicago, IL 60603.Member F.D.I.C., Federal Reserve System. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 18 “ This is of obvious value to any financial institution seeking to in crease its marketing leverage with local businesses,” the spokesman stressed. Among the many reports provid ed by the computer centers, he sin gled out one in particular as being of critical value to top management. This report, taking into account periodic changes and deposit rates and the prime rate, shows how the fluctuations affect the profitability of loan portfolios and time deposits. Firm Started in 1976 What is now North American got its start in 1976 when Frank Marinelli, now chairman and president of the holding company, and Jack Oberding, its vice chairman of the board, formed Mid-America Finan cial Services, Ltd. Both have exten sive experience in financial data pro cessing. Their first customer was Northwest Bank of Davenport, la., which then has assets of $85 million. Two years later, Mid-America won a project development contract from the Iowa Bankers Association. The job entailed providing a turnkey operation for the Iowa Transfer System (ITS), the nation’s largest electronic funds transfer (EFT) system. It was also the first of its kind entailing checking accounts, follow in g only the pioneering savings-and-loan effort in Nebraska. Using software supplied by the NCR Corporation, ITS went live in February 1979. Mid-America, achiev ing an average uptime of 99.8%, Mr. Marinelli and Mr. Oberding reported, hired and trained all personnel, and then turned everything over to the client in March of 1980. Expanding Its Base Meantime, the company was ag gressively selling its services to other banks as well as beginning an acquisition program. It wrote a mul tiple correspondent bank contract with a Chicago bank in 1979. At about this time, North American formed Southern CIF Services, Inc., in St. Petersburg, Fla. In May, 1980, Southern began processing its first bank. As of this writing, Southern is in the process of converting its 14th institution, including several Sav ings & Loans. The acquisition of Computer Resources Corporation in Fayetteville, Ark., and the forma tion of Remote Financial Services, in Lake Charles, La., followed in May 1981. Mid-West CIF is now procesf Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ing in the Chicago area, and addi tional companies are beginning pro cessing in Missouri, Kentucky, and Tennessee. This expansion of the customer base resulted in increased manage ment needs. William C. Carr, a for mer bank officer and president of a Chicago based computer company, was elected executive vice president of North American in March, 1980. Glen E. Geiger, an employee since 1978 and former NCR district sys tems manager, was elected vice pres ident of all program engineering and development. The president of Southern CIF Services, David W. P PPPPIB Mr. Marinelli pointed out, have well® over 450 years of combined exper ience in banking and data process ing. In a similar vein, the holding company stresses its concern for customers. ® “ We are small enough to listen, and large enough to respond,” Mr. Marinelli explained. Besides the on-line training pro-^ vided for user personnel, the com pany conducts schools and work shops and holds regular user meet ings. In all, Mr. Marinelli says, the objective is to take the mystery ou t^ of data processing. ^ One aspect of that is to acquaint North American utilizes the latest in data processing equipment Cox, is also vice president of users with the true costs of data pro marketing for North American. cessing. “ It used to be,” Mr. Ober Among them, the eight compan ding said, “ that costs were split £ ies now process for more than 1 about equally between hardware and million DDA savings, instalment, software. But today, software and mortgage and commercial loan ac people costs account for close to counts. All of the computer compan two-thirds of the total outlay.” ies provide full-scale on-line central Banking Is Separate Business # information file services. They also Back in the beginning, a lot of do trust, expanded financial accoun ting, and a full range of manage small and medium-sized banks got into data processing with the ment reporting. All told, the companies serve thought that they’d defray a portion more than 1,250 on-line admini of the costs by doing work for local' strative and teller machines, inclu businesses,” Mr. Marinelli added. “ Since that time, they’ve learned, ding a shared ATM network. For all of their applications the often to their sorrow, that banking North American computer compan is one business and data processing is another. Many of the large banks 1 ies use NCR Software packages, with custom ized m odifications. which used to sell their surplus Their hardware has been supplied by capacity have dropped out of the the same vendor. The mainframe field. They learned it just wasn’t processors include the latest NCR profitable. “ We can provide our services at a Criterion family. profit because we’re specialists. Un Human Resources Important like many other service bureau oper Despite its concentrations of pro ations, we don’t try to be all things cessing power, North American pla to all people. W e’re professionals in ( ces greatest emphasis upon its hu our field, and that field is the servi man resources. Its key personnel, cing of financial institutions. ’ ’ □ 19 * If you've financed one holding company, you've financed them all. O rh ave you? l} /S t- (y Let’s face it. Holding com panies aren’t always alike. So if your correspondent bank thinks all holding com pany financing is the same, maybe it’s time to look for a different correspondent bank. Like Continental Bank. At Continental, w e hold no preconceived notions about what a holding company in your situation might need. We put together a credit especially made for a holding com pany of your size, in your state, and in your circumstances. With the combination of terms your individual situation calls for. And with any necessary regulatory modifications, evaluation analyses, and even negotiation assistance you might require. That’s the sort of flexibility you , a expect. A nd deserve. f t' You expect decisiveness, " > too. At Continental, you get it. Y rv Credit requests don’t go from committee to committee. T hey go directly to your account m anager—the person w h o can say “yes” or “no” on most loans. You get a decision fast. From the person w h o made it. Call Robert C. Vasko at (312) 828-4046 about your holding com pany financing. We w on ’t try to put you in one pigeonhole or another. W e’ll just w ork out the credit that’s best for you. © CONTINENTAL BANK 125th ANNIVERSARY Continental Illinois National Bank and Trust Company of Chicago, 231 South LaSalle Street, Chicago, Illinois 60693 Atlanta •Chicago •Cleveland •Dallas •Denver •Detroit Houston •Los Angeles •Minneapolis •N ew York San Francisco •Seattle •White Plains. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 20 research conducted nationally by® BCS indicates a strong consumer market potential and a well-defined consumer profile. The survey showed 40% of respondents expressed an in terest in obtaining a debit card, in-® eluding current card holders. Con venience was cited most frequently by the 40% segment—because they perceive MCI I as being easier to use than writing a check and to eliminate® carrying large amounts of cash. The interested respondents range basically from 18 to 54 in age, have an income of $25,000 or more, write more point-of-sale checks, have more® IVE seminars detailing the ad changing merchandise, if necessary. bank and store credit cards, have ed vantages of MasterCard II were Should a credit be issued, the cus ucation beyond high school, and are conducted recently by Banco Card tomer merely enters the credit married, white collar/professional Services, a subsidiary of the Iowa- amount in the checkbook in the persons in a two-income household. _ Des Moines National Bank. More same manner as a deposit to keep Ms. Ganzel reported that since® than 500 persons attended the sem the checkbook balanced. Along with Iowa-Des Moines National introduced inars in Minneapolis, Des Moines, the printed receipt from the mer MCII in its trade area in April, re Billings, Rapid City and Omaha. chant, the customer also receives a sults have exceeded projections. The Response to well-planned mar descriptive transaction reporting on bank is continuing to receive ap-^ keting efforts throughout the upper the statement from the bank. proximately 100 applications a week® midwest has been highly satisfac In addition to offering card access for the new debit card. She also re tory, it was reported at the meet to transaction accounts with mer viewed the pricing and promotion ings. chants worldwide at MasterCard lo strategies offered by BCS. Thomas N. Hammelman, presi cations, and having access to exist Details of the operation su p p orts dent of Banco Card Services and ex ing ATMs, the customer is provided for the new program were reviewed W ecutive vice president of Iowa-Des with overdraft protection, according by K. David Elgena, senior vice Moines National Bank, Des Moines, to Deborah L. Ganzel, vice presi president and general manager of said BCS is the 20th largest card dent-marketing services of Banco BCS, headquartered in Des Moines. company in the United States, now Card Services. The line of credit for The rules for participation by indi-^ serving 600,000 accounts and this protection is arranged in ad vidual banks, as well as costs per 900,000 individuals through 650 fi vance with the card issuing bank. bank and card member, were part of nancial institutions, and supporting She said cash advance capabilities his presentation. their credit card operations. He said are available at any MasterCard Mr. Hammelman also offered a fiMasterCard II is the sixth stage de financial institution. velopment of card services that In her market analysis presented M ASTERCARD II... * started in the early 1960s—“ the at the seminars, Ms. Ganzel said (Turn to page 69, please) payoff of 20 years of work.” MasterCard II, Mr. Hammelman said, is a debit card that may be used throughout the nation and worldwide at all business establishments that accept MasterCard credit card. As opposed to the credit card, however, MasterCard II accesses the custo mer’s checking account for the amount of the purchase, the same as if a check has been written. Also, it may be used in ATM s to get cash and to make routine checking and savings account transactions. Merchants handle debit transac tions just like credit card transac tions and also have their debit tran sactions guaranteed automatically. The customer receives the same kind of receipt as from a credit card tran saction, then deducts the amount of that transaction from the checking balance. Similarly, the receipt serves PRESENTATION of MasterCard II information on product, marketing and financial details was made by this Banco Card Services team at recent seminars (from left): Deborah L. as a vehicle for returning or ex Ganzel, K. David Elgena, Thomas N. Hammelman and William E. Clark. Banco is aggressively marketing its MasterCard II debit card F Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 The Associates: People who can help keep your commercial customers in your bank. The Associates, with resources over $5 billion, has been a leading source of asset-based financing for over sixty years. Much of our success is due to our close working relationships with banks. Our skilled, experienced, moneyfor-business specialists can help expand your bank’s ability to meet the special needs of your customers — and keep your commercial customer in your bank. A key consideration in today’s competitive banking environment. Perhaps a good customer needs more funds than you can loan. Or, you may choose to limit your employment in a particular loan without jeopardizing the banking relationship. Just two of a variety of ways an Associates’ bank participa tion program can help you and your customers. Our people have the experience and desire to create the best possible program for you and your customers. Get to know The Associates. Contact the regional office near you. A Loan Development Officer will meet with you to discuss your requirements. The Associates: People Worth Knowing. Associates Commercial Corporation Business Loans 55 E. Monroe Street Chicago, IL 60603 (312) 781-5800 (Call Collect) Business Loans Offices in Atlanta, Boston, Charlotte, Cherry Hill (NJ), Chicago, Dallas, Denver, Detroit, Houston, JLos Angeles, Miami, Nashville, New York, St. Louis, San Francisco, South Bend (IN), Tulsa. Associates Commercial Corporation is a subsidiary of Associates Corporation of North America, a Gulf + Western Company. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 22 MABSCO initiates a new source of ag lending funds NEW source of ag lending funds for bankers in 13 midwestern states will become available this month with the activation of MABSCO Agricultural Services, Inc. It is the second subsidiary of MABSCO, formed last year by 13 state banker associations to provide specialized services to the 6,700 member banks in the 13 state area. The first service, American Money Market Fund, provides a competitive tool for banks in the Money Market Fund arena. The new subsidiary’s principal goal, according to M ASI President Edward L. Tubbs, “ is trying to as sure a supply of funds at a reason able price so our ag lending banks know they have funds when they are needed. Many of our small banks say that although they receive a great deal of support from larger banks in times of plenty, those larg er banks have to pull back in hard times because their problems in a money crunch are similar to ours.’ ’ “ Through M A SI,’ ’ Mr. Tubbs con tinued, “ ag lending banks may con tinue their traditional relationship with correspondent banks, but are also assured availability of funds and at a reasonable cost.” The pro gram is structured to provide cor respondent banks and holding com panies access to the funding source if it is advantageous to do so. Mr. Tubbs is chairman of Maquoketa State Bank in Maquoketa, la., and was elected president of M ASI at a recent organizational meeting in St. Louis. He has headed the M A B SCO Task Force formed to create the new ag credit subsidiary. Two other MABSCO Task Forces are studying the feasibility of forming subsidiaries to offer insurance and secondary mortgage market servi ces to members; however, these have been put on the back burner while the first two services are more ag A Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis gressively developed and marketed. Other officers of the M ASI board include William Crawford, presi dent, First National Bank & Trust Co., Frederick, Okla., chairman; Harry Argue, executive vice presi dent, North Dakota Bankers Associ ation, Bismarck, vice chairman, and Leslie Peterson, president, Farmers State Bank, Trimont, Minn., secre tary-treasurer. The 12-member board is comprised of prominent ag bank ers from the 13-state MABSCO region. Jim C. Potter has been named ex ecutive vice president of M ASI and is chief operating officer, with head quarters in Des Moines. He has been employed as a consultant in plan ning and developing the new com pany under Mr. Tubbs’ leadership. He was formerly a second vice pres ident-investments for Equitable Life Insurance Company of Iowa and vice president of its Equitable In vestment Services, Inc. Mr. Tubbs said late last month an agreement was being finalized with Rabobank Nederland, located in Utrecht, The Netherlands, with $45 billion in assets and an A A A com mercial paper rating. Mr. Tubbs saic^ Rabobank, with more than 3,000 of fices in its home country, handles 90% of all ag lending in that small nation. It opened a New York office within the past two years, looking f o ^ a conduit for financing of American agriculture. “ This affiliation with Rabobank,” Mr. Tubbs points out, “ brings mon ey into American agriculture and® doesn’t involve foreign ownership in any way. We have set rigid stan dards for our lending procedures and our dealings with Rabobank.” Under those lending standards® E.L. TUBBS J.C. POTTER local banks will continue to nego tiate their own ag loans as they have in the past, Mr. Tubbs points out.i Banks in MABSCO states who want to sell a loan to M ASI or seek an overline participation can call the M ASI office. Mr. Potter will review that application immediately and is^ authorized to approve up to $250,000, and it is anticipated that this will be same-day approval. For amounts in excess of that, Rabobank’s New York office will be called for ap proval. “ In this trial phase, starting hopefully by mid-July when initial loans will be ‘walked through’ the process with Rabobank, we will be committing up to $10 million,” Mr. Tubbs commented. “ After this we will review the procedure to see if any adjustments need be made. Our ( agreement then calls for such pro cedural review after each $100 mil lion loan volume is reached. Our three-year commitment with Rabo bank is viewed at this time as being $500 million. If the plan works as we feel it will, then it’s anticipated we’ll go beyond that total if the capital demands of agriculture increase as projected.” Mr. Tubbs said MABSCO repre sentatives contacted a number of ma jor banks and insurance companies in the United States, then foreign banks expressing an interest, and “ Rabobank is the survivor of that The best package of correspondent services in the Intermountain Wfest Ask us about: ° ■ Investments & Safekeeping ■ Transit & Clearings ■ Foreign Banking Services ■ Collections & Transfers ■ Credit Information ■ Loan Participation .. . and much more. fcZIONS FIRST NATIONAL BANKffiraiS Member Federal Deposit Insurance Corporation An Equal Opportunity Employer Your regional reserve city bank One Main Street / Salt Lake City, Utah 84111 Phone: 801 524-4711 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 24 process. Our domestic banks were reluctant to commit themselves to this service, although one major bank now wishes to pursue it further with us,” he said. State association member banks in any of the 13 state MABSCO states may participate in this credit source by an initial investment in M ASI that will depend upon the in dividual bank’s deposit base. A par ticipating bank will purchase a de mand capital note from M ASI for a minimum amount of $3,000 to a maximum of $12,750, depending upon footings. M ASI service will be available to city banks and corre spondent banks as well for ag lend ing. Correspondent banks will be re quired to invest an additional $1,000 for each originating bank for which it processes loans to MASI. The originating bank will be re quired to retain a minimum of 20% of the loan, Mr. Tubbs noted, since Rabobank will not purchase more than 80% of the credit. The origi nating bank accepts the first 20%, and by the agreement with MASI that 20% will be the last out on the loan. Some people have expressed the fear or criticism that M ASI would become a “ dumping ground” for poor loans. Mr. Tubbs points out this 20% requirement to counter that, stating that M ASI and Rabo bank obviously will not accept ques tionable loans. Participating banks will be able to obtain rates good for loan terms of 30 days, six months and one year. Rates will be based upon term Fed Funds. Rabobank will add 125 basis points and will publish rates daily to MASI, Mr. Tubbs said. “ Generally” he added, “ the M ASI rate would fre quently be below the national prime rate by 1%. During the past year, using our formula, the rate would oc casionally have been below the FICB rate, and from mid 1980 to the end of 1981 our rate would have been below the PCA rate more times than it would have been above. “ Consequently, we know that through M ASI our member banks can be competitive with favored government agency lenders. We took the formula we are now using, plotted a graph for the past two years and found we would have been consistently below prime and com petitive with the Farm Credit System.” MASI receives a service fee from Rabobank of 25 basis points to sus Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tain its operation. As an example, if M ASI obtains funds from Rabobank at 14.75%, it puts the money out to participating banks at 15%. If a bank submits a loan for $100,000, it retains $20,000, and M ASI would accept $80,000 for Rabobank. If the local bank is charg ing 16% on the first $20,000 it re tains, and gets 1% differential on the $80,000, then the local bank is getting a four point return on the re tained portion, according to Mr. Tubbs. The customer deals directly with the local bank. Mr. Tubbs points out that the pending deregulation of banking means “ we’re looking at the reality of competing in the market place. Two things can happen: First, an ero sion of our deposit base. In this event, local banks can obtain ag lend ing funds from MASI. Second, if local banks do pay the market cost to keep those funds in their banks, their costs go up and they aren’t compet itive, so they can borrow from MASI to hold down those costs. “ It looks to me like deregulation will raise the cost of funds, so banks could become brokers of funds and have to seek out other sources.” M ASI will rely on the 13 state as sociations to decide on the best means of reaching their member banks. An audio-visual presentation and seminars will be provided by MASI. “ This is a cooperative bank effort,” Mr. Tubbs noted, “ through which we’re trying to bring out the best in bankers by helping them serve their customers and they can make M ASI the best of what it can be.” □ Five Contest Prizes Awarded By Collateral Control In a six-state contest conducted over an 18-week period by Collateral Financial Services, Inc., a subsid iary of Collateral Control Corpor ation of St. Paul, Minn., 170 bankers submitted entries based on a series of questions pertaining to equip ment leasing. All five cash awards went to Iowa bankers, based on their accurate answers to the ques tions presented each week. In making the announcement, Ed ward Ames, senior vice president for Collateral Control, who heads the six-state area in which the contest was conducted, said, “ These bank ers have demonstrated their profes sional abilities and knowledge about leasing transactions during the con test and are now well prepared to a s-# sist their customers with their leas ing needs.” Mr. Ames said the con test was offered as a means of assis ting the many banks who are now of fering leasing due to higher yields# available to the bank, and as a means of better serving their cus tomers’ needs. The five winning bankers and the prize money they were awarded are:# First—Thomas N. Buelow, vice pres ident, First National Bank, Du buque, $500. Second—Darrel Bau man, assistant vice president, Brenton Bank and Trust, Adel, $200.# Third—Jeffrey Horn, assistant vice president, Brenton Bank and Trust, Adel, $125. Fourth—John Bruce, Holstein State Bank, Holstein, $100. Fifth—Daniel Mead, assistant vice® president, Fidelity Brenton Bank and Trust Company, Marshalltown, $75. Each winner was also presented a wall plaque. The six-state area served by Mr.® Ames’ division included Minnesota, North Dakota, South Dakota, Iowa, northwestern Illinois and south western Wisconsin. _ Wisconsin Manager Wins American Express Award Paul Andrus, the American E x press senior district manager for* Wisconsin, has been selected as this year’s recipient of the American E x press® Travelers Cheques Presi dent’s Award. The award is pre sented annually to the top American{ Express Travelers Cheque district manager who has demonstrated su perior service, both to financial insitutions and the many retail estab lishments that accept American E x-( press Travelers Cheques. Last year, Mr. Andrus earned a Certificate of Achievement at the American Express Travelers Cheques annual sales meeting, but this is the first time he has received the Presi dent’s Award. Mr. Andrus has been employed by the American Express Company since 1970, and worked in ( Chicago prior to his transfer to Wisconsin seven years ago. American Express Offers Cash Access to Members American Express Company will now extend the privileges of its nationwide cash access service through bank automated teller ma chines (ATMs), Express Cash, to all 13.3 million Cardmembers world- # 25 ® NEBRASKA BANKER FIGHTS BACK... (Continued from page 15) • • • • _ 9 ^ W To further strengthen the lead of local community banks aggressively moving into this Cash Management program, Mr. Tiedje’s firm will have the capabili ty of setting up a financial center structure in the lob by to draw attention to the program and offer litera ture to interest new participants from among cus tomers. “ We will pilot five banks in June (this month) to monitor the securities program,” Mr. Tiedje explained, ‘ ‘and we expect to have 50 banks on the total system by August. The more securities transactions that take place, the higher the discount for all of us.” Mr. Tiedje has traveled throughout the country in recent months to visit with individual banks and with banker associations who have heard of his new pro gram. During the recent Nebraska Bankers Association convention in early May, for example, where his ICBN had an exhibit, he had to leave Saturday for A t lanta, Ga., then return to the NBA convention by the same evening. He is a long-time member of the NBA and has served on its executive council. He is currently a member of the A B A Community Bank Leaders Council. ‘ ‘One of the attractive points all of these banks like,” Mr. Tiedje points out, “ is that any local bank can change the variables to suit its local conditions. Some select a $10,000 minimum account, some select a $5,000 minimum. A bank in Wisconsin, for example, wide, creating the largest single pro prietary card base available for II ATM sharing. The Express Cash program, cur rently available to U.S. Gold Cardmembers, allows enrolled Cardmembers to receive up to $500 a week in II cash at automated teller machines across the U.S. These machines, op https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis offers its account at 2% below the CD rate, while other banks follow the Bank of Norfolk lead at 1% below.” Interested banks also should know that ICBN ’s en tire program has been reviewed by the FDIC and other federal and state regulators and that it is determined to be in compliance with their guidelines. In addition, Bank of Norfolk has recently been through a compli ance exam. An interesting point made by Mr. Tiedje is that “ Examiners are encouraging banks to get into as many innovative situations as possible in order to com pete and survive. They seem to have changed their ap proach considerably, so far as I ’m concerned. It’s hard running a bank today, with little growth to rely on and experiencing a decline in return on equity.” That’s why he is enthusiastic about the new Cash Management program and its implications for other community banks who offer it as members of ICBN. “ We operate this as a retail repo,” he said, adding that “ we need to all get in there fighting now to protect our selves from the unregulated invaders. “ So far it’s worked in our bank. We have 70 ac counts totaling about $3 million. That’s a $43,000 average balance and a $28,000 median. These are the same people who will be buying and selling securities and precious metals. All these customers’ names are put out to each to each of our tellers and we tell them to ‘roll out the red carpet’ for these special customers.” More recently, Financial Systems, Inc., of Kearney, Nebr., has agreed to become a distributor for ICBN. FSI has an excellent reputation in the micro software field and is currently conducting seminars in Nebraska and Iowa. To keep the ICBN separate from management of Bank of Norfolk, Mr. Tiedje serves separately as presi dent of ICBN. Kevin Olson, sales director for Bank of Norfolk, is managing officer of ICBN, while James L. Herbolsheimer, senior vice president at the Bank of Norfolk, serves ICBN as vice president. Roger M. Bev erage, who left his job June 1 as executive vice presi dent of the Nebraska Bankers Association, will be sec retary and legal counsel for ICBN. Mr. Beverage has moved to Bertrand, Nebr., where he will operate the in surance business of his late father-in-law, and also will have a private law practice. Mr. Tiedje is a native Iowan and had extensive ex perience as a bank examiner in Iowa before joining Bank of Norfolk in 1971. The bank was a new charter in 1970. He belives strongly that community banks are in a favorable position to survive the competitive war now underway, one that will see continued changes in the financial industry in the nation. “ Those that work vigorously now to protect their turf,’ he asserts, “ will survive, and will survive well. We believe our new Cash Management program is one of the means by which we will keep customers and overcome this competition. □ erated both by individual banks and shared networks, are connected to the American Express Data Center in Phoenix, Arizona. By year end, American Express expects to have over 1000 Express Cash locations. All funds dispensed through Ex press Cash are drawn either from the Cardmember’s bank line of cred it or any demand deposit account the Cardmember designates. In the same way, enrolled American Ex press Cardmembers already have ac cess to the Company’s network of American Express Travelers Cheque dispensers at major airports and travel locations in the U.S. and Canada. Northwestern Banker, July, 1982 26 N o t b a n k -to -b a n k . P e rso n -to -p e rso n . That's the National Boulevard Bank approach to correspondent banking. Each of our correspondent customers enjoys the personal service of an individual account officer especially involved with his customers' particular goals and needs in today's ch allenging business climate. And, our very special kind of personal service is a va ila b le across a bro ad range of functions in four basic areas - Credit and Financing Services, Assets-Liability M anagem ent Services, Operational and Clearing Services and M anagem ent and Marketing Services. If you'd like that kind of personal service in those kinds of areas, the person to call at National Boulevard Bank is H. Peter DeRosier at (312) 836-6868. Make it person to person. NATIONAL BOULEVARD The Bank for the New Downtown. 400-410 N M IC H IG A N AVE , C H IC A G O , IL 60611 ONE ILLINOIS CENTER (111 E W a cke r), C H IC A G O . IL 60601 (312) 8 3 6 -6 5 0 0 • MEMBER FDIC Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 27 ^OFFICERS for 1982-83 are, from left: Exec. V.P.-Bill Hocter; 1st V.P. Ken Skopec, pres., Mid City Natl., Chicago; Pres.-Don Lovett, c.e.o. & pres., Dixon Natl. Bk.; Treas.-Harlan Yates, pres., Cisne St. Bk.., and 2nd V.P.-T.R. McDowell, pres., 1st Natl. Bk. of Westville. Illinois Bankers Elect Don Lovett By STEVE BURCH Associate Publisher fective July 1. In other election ac tivity, Ken Skopec, James WinningITH the riverboat calliopies ham, president of the State Bank of Arthur, and Gerald Feezor, presi _ playing in the background, over 700 Illinois bankers met in St. dent of the Peoples Bank of Marion, Louis for the 91st annual Illinois were elected to the A B A Council. Bankers Association convention, Mr. Feezor attended segments of the June 6-8. Don Lovett, chairman of convention even though his bank • th e board and president of the Dixon was completely destroyed by the re National Bank, was elected presi cent Marion tornado. The issue of association unifica dent for the 1982-83 IB A year. He succeeds James Fitch, president of tion with the rival Association for the South Chicago Savings Bank. Modern Banking in Illinois received •O thers elected include First Vice considerable attention during the President Ken Skopec, president of convention. In a statement issued Mid-City National Bank of Chicago; on June 2nd, IB A President Fitch Second Vice President T.R. McDow stated “ We have supported the re ell, president of First National Bank unification of the industry since • of Westville, and Treasurer Harlan 1973. We believe our members want Yates, president of the Cisne State reunification.” In response, the IB A Bank. Their offices will become ef membership sent a mandate to it’s W leadership urging them to “ provide any necessary and appropriate vehi cle” which would lead to the devel opment of one state banking associ ation. The IBA resolution calls for the new association membership to be determined by a one bank-one vote principle. Mr. Fitch reported at the conclusion of the convention he would notify the AM BI leadership of the provisions in the IBA resolu tion and hoped that the two groups could meet soon and develop the framework for unification meetings. (See AM BI convention report in this issue.) Illinois Commissioner of Bank and Trust Companies Bill Harris re ported that the Illinois banking system is sound and praised the IBA for their support in the stream lining of the state agency. He fur ther thanked the bankers for their assistance in establishing the bank ing commission as a separate agency from the Financial Institutions De partment. Commissioner Harris then blasted the federal government for its reponse to the needs of the banking industry. Commenting on the federal “ sledge hammer re sponse to the needs of a fly swatter” as being “ Mickey Mouse,” he cited the failure of Congress to provide relief from unregulated competitors as a disappointment. “ Unregulated companies continue to grow and prosper while the needs of communi ty banks go unmet and that troubles me to beat hell,” he said. He further challenged that “ We do not need a protectionist, Big Brother author ization which is severe, unwise and goofy.” In referring to the diversity and excellent capitalization of Illinois state banks, Commissioner Harris • LEFT— IBA 1st V.P. Ken Skopec is “ Promised a Rose Garden” by country music entertainer Lynn Anderson. Center— III. Gov. Thompson is assisted by Terry Griffin, IBA staff, in drawing for the mink coat given away by Illinois Bankpac. Right—John Crotty, sr. v.p., Drovers Bank of Chicago with Doug Knapp, exec, v.p., 1st Natl. Bk., Gibbson City. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 28 Illin o is N ew s IBAA Pres. Robert McCormick, pres., Stillwater Natl Bk. & Tr., Stillwater, Okla.; Fred Heitmann, pres., Northwest NatL, Chicago, and T.R. McDowell, pres., 1st Natl. Bk., Westville, and wife Peggy. offered an alternative to the “ fed eralism” present in Illinois banking. Acknowledging that congressional opting out authority may be re quired, he suggested a study for the formation of a state depository in surance corporation. “ It won’t be easy and it will require a lot of time,” he added, “ but through the use of Illinois revenue bonds a sound and dignified program could be im plemented within five years.” Art Laffler, economic policy advi sor to President Reagan, offered an optimistic report on the national economy and predicts a prosperous 1983. In relation to the current bud get crisis he suggests that deficits don’t cause a poor economy but rather thay are a result of a poor economy. He also advised that the budget can not be balanced through Prochnow Grad. School of Bkg. panel members Carl Beckers, pres., Beckers and Meyer, John Rowe, sr. v.p., Centerre Bancorp and Frank Spinner, chmn. & pres., Tower Grove Bk. & Tr. tax increases and urged that approv ed tax cuts not be delayed. He fore casts a recovery and turnaround in 1983 with a massive industrial ex pansion to follow in 1984. Also he feels that econom ic conditions would improve immediately by guaranteeing the value of the dollar through gold conversion. “ It is the quality of the dollar not the quantity that is the key to immediate recov ery,” he asserted. Mr. Laffler used his effective classroom style in ad dressing topics ranging from trickledown economics to variants in tax base structures and in comparing Reaganomics to the fiscal policy of President Kennedy. National Credit Union Admini stration Chairman Ed Callahan shared his philosophy on the role of the regulators with the bankers. He does not feel that it is the regu lators’ job to run the banks and de velop new products. He said that a more liberal attitude is needed in the degregulation of the banking indus® try. He also challenged the bankers to more cooperation with the sav ings and loan institutions as the two groups continue to compete with un regulated financial services com-® panies. Rounding out the convention list of industry speakers were A B A President-Elect William Kennedy,^ IB A A President Robert McCormick® and Senator Alan Dixon, member of Senate Banking Housing and Ur ban Affairs Committee. Other spea kers included NBC News Correspon-^ dent Edwin Newman, Secretary oi Agriculture John Block and author George Plimpton. Elaine and Frank Koepke, sr. v.p., 1st Tr. & Sav. Bk., Glenview, and Paul Sheets, sales rep., Bank Bldg. Corp., St. Louis. Herrn Herberer, Diebold sales rep., St. Louis and Roger Gray, pres., Is t Bk. of Cobden. The St. Louis German Band oom pah pahed for the bankers during the welcoming reception. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bruce Taylor, corr. bkg. off., Drovers Bk., Chicago and wife Barbie visit with LuOra and Allan Payne, pres., Taylor St. Bk., Emington. Illin o is N ew s 29 Bili Hocter, IBA exec. v.p.; Frank Bauder, chmn., Drovers Bk., Chicago; ABA Pres.-Elect Bill Kennedy, chmn., Natl. Bk. of Com merce, Pine Bluff, Ark., and Sid Taylor, c.e.o., Drovers Bk., Chicago. FRONT Row—Janet Winningham, Evelyn Johnson and Lillian Orlando. Back Row—Jim Winningham, pres., St. Bk. of Arthur; James Johnson, chmn., 1st Natl. Bk., Peoria; Jack Impey, v.p., Centerre Bk., St. Louis, and Joe Orlando, retired. Jerry Fleschner, v.p., Mercantile Tr., St. Louis, and wife Judi; Tom Macias, v.p., 1st Natl. Bk., Wood River, and Matt Favazza, a.v.p., Mercantile Tr., with wife Janet. NBC News Correspondent Edwin Newman (center) visits with Il linois Commissioner of Bk & Tr. Co. Bill Harris and IBA Exec. V.P. Bill Hocter. John Montgomery, pres., Lakeside Bk., Chicago; Don Lovett, chmn. & pres., Dixon Natl., and Guy Weir, chmn. & pres., Chicago :(|! City Bk. & Tr. Richard Droste, (second from left) pres., Natl. Bk., Mt. Olive visits with LeFebure representatives Bill Glasgo, Kathy Mattenson and Ron Bright. _ John Monroe and Robert Wallace of Advanced Planning Systems, ® Arlington Hts., visit with Ken Peters of ATM Management Co., Downers Grove, in Exhibit Hall. Raymond Burroughs, pres., City Natl. Bk., Murphysboro; U.S. Senator Alan Dixon, Belleville; Charles Helleny, exec, v.p., Herrin Security Bk., and Bill Badgley, chmn., 1st Natl. Bk., Belleville. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 30 Illin o is N ew s Illinois Governor Jim Thompson visits with IBA pres. Jim Fitch and his wife Marilyn and daughter Missy. Phyllis Boehme and Steve Kyman welcome guests to Mercantile H ospitality Carnival. Elmhurst Elections Told Skokie Bank President Named Frank C. Rathje, president of Elmhurst National Bank, has an nounced the promotion of Arnold E. Bruns to vice president-trust divi sion; Michael W. Stolz to vice pres ident-commercial loan department; George T. Necas to assistant vice president-trust division, and Renee D. Mogni to marketing officer. Mr. Bruns joined the bank in 1977 as trust officer and became assistant vice president in 1978. Mr. Stolz joined in 1973 in the consumer loan division. He was named commercial loan officer in 1977 and assistant vice president in 1978. Mr. Necas be gan his banking career in 1961 with LaSalle National Bank and joined Elmhurst National in 1981 as a trust officer. Ms. Mogni, who joined the bank in 1977, was promoted to assistant marketing officer in 1980. First National Bank of Skokie, founded in 1907 and celebrating its 75th anniversary this year, has pro moted James A. Carlson, current exexutive vice pres ident, to presi dent and chief operating officer. Mr. Carlson, the fifth man to hold the position of president in the bank’ s 75 y e a r h is t o r y , was elected to J A CARLSON the b oa rd o f directors in April this year and will assume his new position as presi dent effective July 1st. Mr. Carlson came to First Nation al from the American National Bank & Trust Company, Chicago, where he was senior vice president of the institutional banking division. He began his banking career with American National in 1962. Deerfield Officer Named David J. Veronda has joined the First National Bank of Deerfield as a ssista n t vice president, accor ding to Alan M. M e y e r, p r e s i dent. In his new position, Mr. Ve ronda will be responsible for management as signments in the bank’s commer cia l b u s in e s s D.J. VERONDA development and loan department. A career banker, Mr. Veronda was formerly with the First Bank of Channahon. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rockford Chairman Named Charles F. Thomas, partner in the firm of Thomas, Thomas, Keeling and Moore and a member of the board of City National Bank & Trust Co. of Rockford, has been elected chairman of the board. He replaces Charles Summerfield, a founder of the bank and chairman from 1972 until his death last month. Rolf Thienemann, president of Muller-Pinehurst Dairy, has been elected to the board. James R. Cox, vice president, recently graduated from the A B A N ational Com m ercial L ending School. The two week session was held at the Oklahoma Center for con-^ tinuing Education at the University of Oklahoma, Norman. Moline President Elected 9 Richard M. Bishop has been elected president, effective June 1, of First National Bank of Moline. He has been president at First Galesburg National Bank and Trust# Company, which he joined in 1971. He began his banking career in 1952. Mr. Bishop was graduated from Bowling Green State University in # Ohio and was awarded his M A de gree from Ohio University. He also attended the Stonier Graduate School of Banking at Rutgers. He had been a director of A M B I# since that group was formed in 1973 but has resigned that post since he will now be in a different region. At Moline he fills the vacancy created by the resignation in March of® Richard A. Shultz. Gound Breaking Announced • Plum Grove Bank at 2701 Algon quin Road, Rolling Meadows, has broken ground to construct two ad ditional banking lanes, according to E.J. Drolet, president. ® Construction is scheduled to be completed in 30 to 45 days without interrupted service. The additional lanes will allow drive-in service for five lanes of cars. The units will be® installed with LeFebure equipment. 31 Uncertainty. These are uncertain times. W e have been in a serious recession, but w e’re not sure how deep it has been or how fa st we are climbing out. Money rates reached unheard of heights, but we don’t know how much they will drop or if they will drop back to normal. Some of our large, basic industries are in trouble. Our economic stability is dependent on a steady flow of petroleum im ports which may or may not prove dependable. All of this uncertainty makes business lending very difficult. However, SLT can eliminate some of the uncertainty th a t lenders face by guaranteeing your custom ers’ inventory as pledged collateral. For over 5 0 years, we have worked with banks and commercial lenders to collateralize loans and make lending safer and more profitable. Give us a call; we can eliminate uncertainty from your loan portfolio. SLT WAREHOUSE COMPANY P 0. Box 242. St Louis. M o. 63I66 • 314/241 9750 • Offices in Maior Cities N A T IO N W ID E https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis COLLATERAL CONTROL S E R V IC E S Northwestern Banker, July, 1982 32 Illin o is N ew s if not impossible, to ever merge the associations.” The AM BI merger proposal calls for the forming of a “ Unity Commission” to be chaired by Illinois Commissioner of Banks and Trust Companies William Harris and to include four non-lead ership members from each group. The AM BI board of directors has agreed to be bound by the recom mendation of the commission and invited the IB A to take similar action. As of the conclusion of the AM BI meeting the IB A leadership had not received a copy of A M B I’s proposal and reserved comment until it could be reviewed. (See IBA convention report in this issue). ASSOCIATION for Modern Banking in Illinois officers for 1982-83 are, from left: Vice Chmn.-James Lund, pres., Matteson-Richton Bk., Matteson; Immed. Past Chmn.-Walt Lohman, chmn., 1st Natl., Springfield; Chmn.-Charles Wilson, c.e.o., 1st Natl., Quad Cities; Treasurer-Gerry Gummere, pres., Peoples Bk., Bloomington, and Secretary-Robert Sher man, sr. v.p., American Natl., Chicago. Not pictured is Vice Chmn. James Forster, pres., DeKalb Bk. AMBI Proposes Unity Talks With I BA By STEVE BURCH Associate Publisher HE 1982 annual meeting of the Association for Modern Banking in Illinois, held June 2-4 in Bloomingdale, provided the springboard for A M B I’s merger proposal with the Illinois Bankers Association. Disagreement among IB A member banks over multibank holding com pany structure and branch banking issues in 1971 led to the forming of AM BI as a group within the IBA. Two years later, however, issue dif ferences continued to develop and the AM BI members, which report T edly represent over 80% of the states banking assets, broke away from the IB A and formed the rival trade association. With the major banking structure differences now resolved, the leader ship of both AM BI and IBA agree that a single statewide association is desirable. AM BI Chairman Walter Lohman, chairman of the First Na tional Bank of Springfield, states, “ The issue of merger has consid erable urgency now. The IBA and AM BI are intitiating costly, perma nent programs to serve their mem bers and as those proliferate over time it will be increasingly difficult, # 0 • In other convention action, Charles Wilson, chairman of the <§ board of the First National Bank of the Quad Cities, Rock Island, was elected chairman by the association board of directors. Other elected of ficers include: Vice Chairmen James # Lund, president of Matteson-Rich ton Bank of Matteson, and James Foster, president of the DeKalb Bank; Treasurer Jerry Gummere, president of Peoples Bank of Bloom- # ington, and Secretary Robert Sher man, senior vice president of Amer ican National Bank and Trust Co. of Chicago. In his address to the bankers, Il linois Governor James Thompson praised AM BI for their progressive contributions to the state’s banking industry and called for unity with 0 the IB A for continued statewide fi nancial growth. He reminded the bankers that he supported Illinois’ deregulation of interest levels on consumer finance and backed the # compromise legislation, which led to LEFT—Suzanne Nolan, a.v.p., Chemical Bk., N.Y.; Carroll and David Connor, pres., Commercial Natl., Peoria, and Betty and Joe Hartmeyer, sr. v.p., Chemical Bk., N.Y. RIGHT—Tom King, v.p., 1st Natl., Chicago, with Nadine and Howard Bell, pres., 1st Natl. Bk. & Tr., Rockford. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 Illinois N ew s the state opting out of the federal bankruptcy code. Both issues dem onstrate the balance between lender and consumer, which he cites as a hallmark of his administration. Other convention speakers includ ed A B A President-Elect Bill Ken nedy; noted columnist and author 33 George Will; Federal Reserve Bank of Chicago President Silas Keehn, and Senator Adlai Stevenson, Dem ocratic candidate for governor. Walt Lohman, chmn. & c.e.o., 1st Natl., Springfield, and wife Carol; ABA Pres. Elect Bill Kennedy, chmn., Natl. Bk. of Com merce, Pine Bluff, Ark., and Caryl and John Brubaker, pres., 1st Natl., Springfield. Norman Backues, pres., MidAmerica Bancsystem, Fairview Hts,; Ben Ober, chmn., 1st Natl. Bk. & Tr., Centrailia; Jerry Fleschner, v.p., Mercantile, St. Louis, and Charles Daily, chmn., MidAmerica Bancsystems, Fairview Hts. Guy Rich, corr. bkg. off., American Natl., Chicago; Sheila and Robert Sherman, sr. v.p., American Natl., Chicago, and Pat Hayes, AMBI staff. William Heise, v.p., 1st Natl., Chicago; David Leitch, v.p., Commer cial Natl., Peoria, and Gerry and Don Houk, sr. v.p., Commercial Natl., Peoria. David Connor, pres., Commercial Natl., Peoria, visits with Illinois Governor James Thompson. Dick Geach, e.v.p., 1st Freeport Corp., and wife Janice with Mary and Jim Hill, v.p., Harris Bk., Chicago. Richard Durkes, pres., City Bk. & Tr., Dixon; Jay Buck, sr. v.p., Northern Tr., Chicago; Robert V/alker, v.p., Continental Bk., Chicago, and Bob Bukowski, pres., Shared Network, Des Plaines. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lew Brown, a.v.p., Harris Bk., Chicago and wife Edie; Ann and Jerry Pearson, v.p., Harris Bk., Chicago, and Gwen and H.L. Fen ton, pres., 1st Natl., Freeport. Northwestern Banker, July, 1982 34 Morton Grove. When that acquisi tion is approved, the Mid Citco group will have assets in excess of $320 million, moving it up among the 20 largest banking organizations in the Chicago area. * * * Robert D. Gecht was elected presi dent of Albany Bank & Trust Com pany, N.A. Mr. Gecht, who had been executive vice president, is a cum laude graduate of Harvard Col lege, Cambridge. He also received both his law de gree and his masters of bus in ess a d m in i s tra tio n from the University of Chicago. R.D. GECHT After spend ing one year as a consultant at the Center for Policy Alternatives, Massachusetts Institute of Technol ogy, he returned to Chicago in 1978 to join the law firm of Holleb, Gerstein & Glass, Ltd. (Now Holleb & Coff). In 1980 he joined Amalga mated Trust & Savings Bank as vice president, where his responsibilities were in the commercial lending and legal departments. In October, 1981, he became executive vice president of Albany Bank. * * * The III Illinois executive banking center of the Mid-City National Bank of Chicago recently celebrated its second anniversary with cake and approximatly $4 million in assets. The III Illinois Center, Wacker and Columbus Drives, was MidCity’s first remote facility. The bank’s holding company, Mid Citco, recently filed a letter of intent to purchase The First National Bank of Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Herbert Dolowy, president and chief executive officer of Lincoln National Bank, r e c e n t ly an nounced the elec tion of Larry Slonina to the of fice of vice presi dent, com m er cial loans. Mr. Slonina formerly was an assistant vice president in the same department. * * * Four Chicago area banks — The North Shore National Bank of Chicago, Western National Bank of Cicero, The Franklin Park Bank and The Morton Grove Bank — have combined marketing and opera tional forces under a shared identity, Affiliated Group, Inc. According to Marvin E. Nelan, chairman of the four banks, they are controlled by similar ownership and have cooperated informally with each other over the past many years. Combined assets of the group cur rently are over $475,000,000 and the affiliated name initially will serve as a central theme for the groups com mercial business development ef forts. The first usage in addition to com mercial business development mar keting, according to Mr. Neland, will be the marketing of a centralized checking package called the “ Affil iated Checking Account’ ’ for the consumer. Basically the package will offer many financial services to certain customers in one single ac count. As of December 31, 1981, The North Shore National Bank, located at 1737 West Howard Street, had to- O tal assets of $190,000,000; Western National Bank of Cicero, 5801 West Cermak Road, $147,000,000; The Franklin Park Bank, 3044 West R ose S treet, F ra n k lin Park, 9 $98,000,000, and The Morton Grove Bank, 8700 North Waukegan Road, Morton Grove, $40,000,000. * * * Dorothy Lullen has been pro moted to assistant vice president of Seaway Nation al B ank, an nounced Walter E. Grady, presi dent. Mrs. Lullen, who has been with the bank 1 2 years, began her banking career as executive sec retary to the D- LULLEN president, moving into personnel work in 1978 and most recently serv ing as personnel officer. * * * Donald D. Thornburg, chairman and chief executive officer, Sears Bank and Trust Company, has an- £ nounced the following promotions: William M. Powell, senior vice president, investm ent division; Philip J. Baratta, senior vice presi dent, real estate division; Roger K. £ Johnson, vice president, operations; Dennis J. Reidy, vice president, in formation systems division; Debra D.E. CHANDLER L. JANES —E. Chandler, second vice president, personal banking; Lee Janes, second vice president, personal banking; Edward T. Panicko, second vice president, personal banking; Gloria ^ J. Chavka, assistant vice president, personal banking; Mary Pat Kerri gan, assistant vice president, real es tate division, and Ann S. Truesdale, assistant vice president, trust divi0 sion. Elected to officer status were: William S. Aldrich, commercial banking, commercial division; Janet L. Cape, data processing, informa0 tion systems division; Michael J. Cushion, accounting, accounting/finance; Nancy H. Holt, real estate loan, commercial banking; Margaret I. Johnson, assistant trust, trust di• vision; Elizabeth L. McCabe, assis- tant trust administration, trust divi sion, and Suzanne C. Sala, investment operations, investment division. * * * Labor leader Lou Montenegro has been elected an advisory director of the Amalgama ted Trust & Sav/ ^ g ings Bank, acc o r d in g to Eugene Heytow, chairman. M r. M o n te negro was re cen tly elected vice president of the Internation L. MONTENEGRO al Ladies’ Gar ment Workers union, a union he joined 30 years ago as a garment presser in his native New York City. * * * Lew A. Erwin and Brian J. Griffin have been promoted to pro-cashier at the Mid-City National Bank of Chicago, announced Kenneth A. Skopec, president. Mr. Erwin has been with the bank for four years, previously as man agement trainee. Mr. Griffin had been serving as collateral and finan cial analyst. IBA Staff Changes Told J.L. CAPE M.J. CUSHION E.L. MC CABE S.C. SALA https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis William J. Hocter, executive vice president, recently announced sever al staff changes for the Illinois Bankers Association, effective im mediately. Thomas J. Dammrich, vice presi dent, will move up from his position C.J. OBIE T.A. GRIFFIN Illinois N e w s 35 as director of education and will be responsible for the management of the association’s headquarters in Chicago. Mr. Dammrich’s duties will include being the Illinois staff contact person for MABSCO Finan cial Services, Inc., the 13 state bankers association consortium, the management of the bank call pro gram, and other special projects. In his newly-created position, Mr. Dammrich will report to the execu tive vice president. All other staff people will report to Mr. Dammrich. James W. Civik, formerly assis tant director of education, will be promoted to director of education. He will also serve as secretary to the six banking divisions of the IBA. Charles J. Obie will move from his position of director of member and public relations to the newly-created position of director of marketing. Terry A. Griffin, formerly direc tor of Bankpac and assistant direc tor of member relations was named director of banking organizations, a consolidation of the association’s group and federation member rela tions function. Easy Answer Executive Named Ben D. Mills, Jr., previously manager of EFT Services for World Computer Corporation, Birming ham, Mich., has been appointed executive direc tor and chief ex ecutive officer of the easy answer system, a shared electronic funds transfer system, w hich becam e operational May 3. The system is a joint venture B.D. MILLS, JR. am ong th ree banks in Springfield and one bank in Decatur. It combined the Answer Network, which was operated by Springfield Marine Bank and Illinois National Bank, Springfield; the Easy System operated by the First Nation al Bank of Springfield, and the Any time Teller System operated by Cit izens National Bank of Decatur. Over 45 automatic teller machines have initially been linked together for shared usage among customers of 32 financial institutions in Sangamon, Logan, Macon, Christian and Mor gan Counties. The easy answer sys tem also operates point of sale ter minals including the first fully auto matic gasoline pumps. Northwestern Banker, July, 1982 36 SERVING the Minnesota Bankers Association in 1982-83 will be, from left: Immed. Past Pres.— Robert J. Welle, chmn., 1st Natl., Bemidji; Pres.—John P. Ingebrand, pres., Kanabec State, Mora; Treas.—James R. Jorstad, pres., Citizens State, Hayfield; 1st Vice Pres.— Herbert A. Lund, pres., Security State, Albert Lea; Exec. V.P.—Truman Jeffers, Min neapolis, and 2nd Vice Pres.—Galen T. Pate, pres., Signal Hills State, West St. Paul. At Minnesota Bankers convention — John Ingebrand Elected MBA President By BEN HALLER, JR. Editor and Publisher and EM BERS of the Minnesota Bankers Association elected John P. Ingebrand as president of the M BA at their 92nd annual con vention last month at the Radisson Hotel, St. Paul. Mr. Ingebrand is president of Kanabec State Bank, Mora. He succeeds Robert J. Welle, chairman, First National Bank, Be midji, who continues on the ex ecutive council as immediate past president. Other officers who will serve with Mr. Ingebrand in the 1982-83 year are: 1st Vice Pres.—Herbert A. M STEVE BURCH Associate Publisher Lund, president, Security State Bank, Albert Lea; 2nd Vice Pres.— Galen T. Pate, president, Signal Hills State Bank, West St. Paul, and Treas.—James R. Jorstad, presi dent, Citizens State Bank, Hayfield. Truman L. Jeffers continues as ex ecutive vice president in charge of the M BA headquarters staff in Min neapolis. Three new members of the board of directors were installed for twoyear terms: Les G. Grosz, chairman and president, Western Bank & Trust Co. of Marshall; Dennis W. Dunne, president, First National £ Bank of Duluth, and Arthur M. Espeland, president, The First Na tional Bank, Henning. Mr. Welle and Don A. Sirek, presi dent, State Bank of New Prague, ® were elected to the A B A Council. Mr. Sirek is retiring M BA treasurer. Although the golf tournaments were rained out the first morning, good weather moved in and ardent® golfers found time later to squeeze in a few holes of golf during the next day and a half. The tennnis tourney was held indoors so was unaffected by the rainy weather. More than® 1,500 persons were registered for the convention. First Day Activities During the first afternoon, reg- ^ istrants were able to learn more about microcomputers from a pre sentation by Clyde Fischer, presi dent, First National Bank, Aitkin, and about the MABSCO Money £ Market Fund from H. Robert Hertzenberg, president, Breck Financial Services, Breckenridge. The first day was capped with a sensational First Night Dinner Par- ® ty that featured “ Barbershop Re vue—1982,“ including The Happi ness Emporium Quartet, which will be competing in the national barber shop competition in Philadelphia • this year, and the Minneapolis Com modore Chorus, which is made up of several dozen Twin Cities barber shop enthusiasts. Both groups were sensational and had to respond to • “ encore” calls. Later, a number of them visited in hospitality areas and took part in spontaneous singing sessions. LEFT— Mike Pieschel, pres, of Farmers & Merchants, Springfield and vice chmn. of ABA’s natl. BankPac committee; William H. Kennedy, Jr., pres.-elect of ABA and chmn. of Natl. Bank of Commerce, Pine Bluff Ark.; Robert J. Welle, chmn., 1st Natl., Bemidji, retiring MBA pres, and newly-elected to ABA Council, and James T. Gowan, pres., 1st Natl., Chaska, and ABA state v.p. for Minnesota. RIGHT— Mr. Kennedy^ with M. Danny Wall, staff dir., Senate Committee on Banking, Housing and Urban Affairs, Washington, D.C., and Mark Olson, pres., Securi ty State, Fergus Falls, vice chmn. of ABA’s government relations council. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis T H E CO U N T OF GRYGLA. Grygla, Minnesota, has a raw and unfinisheel ai r. Fred Sorenson, president of the 6-year-old American State Bank o f Grygla, calls the Surrounding area the Midwest’s last frontier. The land is treeless, flat and miraculously fertile, and every season more acres are cleared, ditched and planted, making more efficient than ever the huge equipment that cultivates, seeds and harvests the wheat, oats, barley and sunflowers. The settlement was named after a Polish nobleman who spent one cold winter there and quickly departed for warmer climes. The Grygla bank’s chief correspondent is the Northwestern National Bank of Minneapolis, 310 miles southeast of the town. Recently, Fred Sorenson. who has his BA and MA from the University of Minnesota and who for many years was a farm management teacher, talked about Northwestern Minneapolis and about banking in Grygla. This is not like other places. This is a frontier. Farmers here have an insatiable thirst for money. They deposit one dollar and ask to borrow a hundred. Our bank has wanted to help them, and has. W hen the loans have gotten too large, w e’ve had to call on the Northwestern National Bank o f Minneapolis. It’s handled m ost o f our ag overlines for six years. Right from the beginning in fact. T h ey’ve been responsive, capable, cooperative, knowledgeable. W hat m ore can I say? O f course we do m ore than lend m oney to farmers. Grygla has an urge and a right to exist. W hen we cam e here six years ago there were no paved streets, no water system, no sewer system. N ow the village has all three. And we were involved. Our bank has also helped bring in a grain elevator, enlarge a farm im plem ent dealership, a beauty shop, and helped start from scratch a m achine shop, a restaurant, a lum ber yard. Just before I cam e here from T h ief River Falls, Minnesota, I said to my wife Marie, “ If you love me, com e to Grygla with m e.” Thank heavens she said yes! The people are wonderful. The hunting is great—mallards, honkers, grouse, deer, even moose. And everything I’ve done as a banker in Grygla has been done for the first tim e! It’s not fancy, but it’s banking at it’s best. CORRESPONDENT BANKING DEPARTMENT NORTHWESTERN N a t io n a l b a n k O f M in n e a p o lis n Affiliate of Northwest Bancorporation Banco SHOULDN’T WE TALK SOMETIME? https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 38 M in n e s o ta N e w s LEFT— Four bankers were inducted into the MBA Pioneer Club (50-year bankers). From left are: Howard W. Reiter, chmn. & pres., Natl. Bank of Canby; Horace F. Chamberlain, chmn. & pres., Valley Natl, of LeSueur, pres, of Pioneer Club and master story-teller, who — presented the awards; Glad Redding, Windom State of Windom; Thomas C. Danielson, Atwater State, and K.C. Jones, chmn., 1st N atl.,w Osakis. Two men not present were mailed their 50-year plaques: John J. Jirek, State Bank of Lonsdale, and Arthur Kappel, chmn., Citizens State Bank, Wlnsted. RIGHT—Walter J. Bergquist, retired 50-year banker from First Bank St. Paul, congratulates I.M. Britt Nelson, chmn. & pres., Citizens State of Gaylord, on his election as pres, of Pioneer Club. Speakers The convention got down to ser ious matters at an early hour on Tuesday—starting promptly at 7:30 a.m. with the annual Prayer Break fast, attended by several hundred bankers and spouses. Former Iowa Governor Harold Hughes was the principal speaker. He was preceded by M BA President Welle and M B A ’s Truman Jeffers, who offered special prayers and scripture readings. Pre siding was Gary Wollan, president of Summit National Bank, St. Paul. The first speaker introduced by Mr. Welle was E. Gerald Corrigan, president of the Federal Reserve Bank, Minneapolis. “ The future is closer than some think,” he cau tioned, “ but the dust of change has obscured a couple of important things. Just because there is change, it doesn’t mean everything is dif ferent, or that it should be—some things are basic. If we are to effec tively meet the challenge of change, we must build on those strengths and stability of the past. “ When you look at the record of banking and its ability to react and build new products, it shows bank ing has been able to move forward. But it is still time to get on with de regulation. I can’t see the non-regulated competition being brought under sweeping regulations.” The same theme was mentioned by Michael J. Pint, commissioner of banks, State of Minnesota, who com mented, “ Evolution in progress comes down to survival of the fittest. It brings new opportunities, but new risks, which require close surveil lance by the regulators and monitor ing by you. For the past three years the most fundamental challenge to banks has been the escalating com petition from non-depository insti tutions.” He then showed the dra matic differences in cost of funds and prime rate figures for recent l years. “ In three years,” he noted, “ Minnesota consumer finance of fices have dropped to 1 1 2 in the state, and credit unions have been reduced by 23 through mergers with 1 others and three placed in receiv ership by the NCUA with no loss to depositors. The 65 s&ls in the state in 1978 have been reduced to 44. The most notable merger was that of the 1 Farmers and Mechanics Savings Bank into Marquette National Bank to form F&M Marquette National Bank, a billion dollar bank.” Mr. Pint reported that of 554 state banks, 42 are rated as “ pro blem” banks under the CAM EL ex aminer system, while 10 are rated as “ critical” arid are being closely mon itored bv his banking division and the FDIC. All of these factors of economic pressures, new and unregulated competition, along with the daily ^ LEFT— Robert J. Welle (center), chmn., 1st Natl., Bemidji, and his wife, Jeanette, received a beautiful Federal Duck Stamp Album from Northwestern Natl, of Minneapolis in recognition of his services as MBA president the past year. Present for the brief ceremony were Joan and Don Pederson (left), sr. v.p., and Tom Swan (right), corr. bk. repr. RIGHT— Newly-elected presidents of three state banker associations £ are, from left: So. Dak. — Dean O. Mehlhaff, pres., Eureka State Bank; No. Dak.—John M. McGinley, pres., American State B&T, W illiston, and Minn.—John P. Ingebrand, pres., Kanabec State, Mora. Digitized Northwestern for FRASER Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M in n e s o ta N e w s III Harry Benson (left), pres., and Stan Peterson, v.p., of Midland Natl., Minneapolis, present a beautiful Les Kouba w ildlife paint ing to Paul Lindholm (right), pres., State Bank of Maple Plain, to commemorate State Bank’s 70-year correspondent bank relation ship with Midland Natl. 39 Scott Faris, corr. bk. rep., Northwestern Natl., Mpls., Walter Krumwiede, exec, v.p., Peoples St. Bk., Truman, and wife Marian; Don Huemoller, pres., Peoples St. Bk., Truman, and his wife Betty, and Ken Vegors, a.v.p., Northwestern Natl., Mpls. LEFT— Dorthea Gutzman, Capital City St. Bk., St. Paul; Elizabeth Wohlenhaus, v.p., Northwestern Natl., Mankato; Louisa Johnson, a.v.p. and Dick Erickson, a.v.p., Midland Natl., Mpls. RIGHT—John Robb, v.p., Chemical, N.Y. and Phoebe Erdman, a.v.p., Chemical, N.Y. with David Hyduke, gp. v.p., American Natl., St. Paul. LEFT— Bob Krane, pres., Northwest Bancorporation, Minneapolis; Everett Kelley, pres., Northwestern State, Dawson, and his wife, Avis, and John Morrison, chmn. of Banco. RIGHT—Joyce and Larry Buegler, c.e.o., Northwestern Natl., St. Paul, with Liz and Jim Armstrong, pres., and Don Pederson, sr. v.p., and his wife, Joan, both men with Northwestern Natl., Minneapolis. LEFT—(Front Row) Arlene Fox, Madelia; JoAnin Hinnenthal, inv. off., F&M Marquette, Mpls., and Donna Schmitz, Springfield. Back Row— Jim Fox, pres., Farmers St. Bk., Madelia; Robert Hadland, pres., Farmers & Merch. St. Bk., Lamberton; Jack Hinnenthal, and Glenn Schmitz, pres., State Bk. of Springfield. RIGHT— Chuck Thorkelsen, dir., 1st Northwestern, Redwood Falls; Mike Bodeen, a.v.p., Midland Natl., Mpls., and Jim Heig, pres., Northwestern St. Bk. Northwest, Maple Grove. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis a 40 M in n e s o ta N e w s LEFT—Jack Quitmeyer, a.v.p., 1st Natl., Minneapolis, and his wife, Kathy; Clarice Espeland, dir., 1st Natl., Henning; Duane Fraki, exec, v.p., 1st Natl., Henning, and his wife, Judy, and Al Highum, a.v.p., 1st Natl., Minneapolis, and his wife, Charlotte. RIGHT— Pattie and Ken Wales, sr. v.p., and Margie and Pete Ankeny, chmn., both men with 1st Natl., Minneapolis, and Jeanette and Bob Welle, chmn., 1st N a tl.,£ Bemidji, and retiring MBA pres. (Mr. Ankeny became vice chmn., First Bank System July 1.) LEFT—Kay and Jim Russell, a.v.p., 1st Natl., St. Paul; Katha and John Chamberlain, pres., Valley Natl., LeSueur; Ann Wagner-Hauser, corr. bk. off., 1st Natl., St. Paul, and her husband, Greg Hauser. RIGHT—Ginny and Andy Sail, pres., 1st Natl., St. Paul; Renee and Mark Olson, pres., Security State, Fergus Falls, and Joan and Dale Hanson, group v.p., 1st Natl., St. Paul. LEFT— Karen and Galen Pate, pres., Signal Hills State, West St. Paul, with Bob Jacobson, v.p., American Natl., St. Paul, and his wife, Lori. RIGHT— Joe Finley, pres., Janesville State; Don Johnson, v.p., American Natl., St. Paul, and his wife, Joanna, and Mike Pint, Minnesota supt. of banks. 9 business and family activities of each person were explored by Mi chael J. Hennessy of Aurora, Colo., in his timely address on “ Stress and Productivity.” His platform time was only enough to demonstrate to attending bankers that further pur suit of a longer seminar on coping with stress is probably needed today by most business people, both on a personal basis and as a staff-wide project. Association - Legislation The afternoon program basically DigitizedNorthwestern for FRASERBanker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis was devoted to legislation and MBA and A B A affairs. Mr. Jeffers said the principal concern of bankers as he sees it is “ How do I compete?” He suggested personal involve ment in the MBA, using the train ing skill programs offered by M BA for the staffs of banks, and utilizing the innovative services available through M BA and its affiliation with MABSCO. “ To the question, ‘Can I compete in the ’80s?’ my ans wer is ‘absolutely,’ ” Mr. Jeffers said vigorously. “ Those unwilling to take steps peeded to compete won’t be in business at the end of the decade. Full Service banking will mean that in every respect.” Mr. Jeffers con cluded with a review of M BA programs to the membership, an intro duction of M BA staff members, and a brief review of current legislation by John Jackson, M BA legislative counsel. M. Danny Wall, staff director for the United States Senate Commit tee on Banking, Housing and Urban Affairs, talked on “ Financial Institution Regulation” as he has done so well before several national and ® ^ ^ 9 M in n e s o ta N e w s D LEFT—Richard Strain and Larry Odegard, sales reps., Mosler Safe Co. with Scott Faris, corr. bkg. rep. and Scott Ulbrich, corr. bkg. off., Northwestern Natl., Mpls. RIGHT—John Oltmanns, (center) pres., Northwestern St. Bk., Virginia, visits with Patrick Tims, reg. mgr., and Ed Favreau, rep., Bk. of America Travelers Cheques. state banker groups. He gave an en^ lightening look at formation of the budget proposals as seen from the Senate and House, including com ments on entitlement programs and the need for someone to face up to an £ overhaul of Social Security. On the latter topic, he said, “ W e’re not talk ing about cutting what people are getting, but reducing the increases.’ ’ An an example of the latter, he ^ said if the July 1 scheduled increase should be delayed by only two months, it would save $5.4 billion! He urged each banker to read the June 1 Wall Street Journal on this 4|| subject. Regarding banking changes, Mr. Wall stated, “ People are unhappy with politicians, but what is happen ing is the market place. Money Mar11 ket Mutual Funds should be under some kind of regulation—perhaps not permitting third party transac tions—but it’s not going to happen... so all you can do is seek deregulation II to compete.” After reviewing budget dealings 0 41 in Congress and recent proposals to save thrifts and expand their pow ers, Mr. Wall said, “ Senator Garn wants to be remembered not for passing a specific piece of legisla tion, but for trying to get everyone to know and consider the breadth, depth and extent of the problem. In the final analysis, the decision about what’s to be done rests with banks, not with s&ls or credit unions. The initiative rests with banks and if you want the process to work, then do something with Congress. It rests with you.” Minnesota’s A B A Vice President James T. Gowan, president, First National Bank of Chaska, delivered his report, outlining two key A B A activities: 1. The role of primary communicator to regulatory and leg islative bodies and 2 . The Banking Leadership Conference at which con sensus positions are arrived at. Mike Pieschel, president of the Farmers & Merchants State Bank of Springfield, and vice chairman of A B A ’s BankPac, gave a report on both the national and Minnesota results of BankPac. He said more than $600,000 had been furnished from more than 7,000 of the nation’s banks. Minnesota, he noted, had met its share each year with $13,200. Wm. H. Kennedy, Jr., A B A pres ident-elect and chairman of the Na tional Bank of Commerce in Pine Bluff, Ark., was the concluding speaker. He cited the economy again as the nation’s number one problem, and the need for Congress “ to get a handle on the budget and spending. You must contact your Senators and Representatives,” he told his audi ence, “ and let them know they should get on with the business at hand, and get our economy un tracked.” The second problem he listed was banking competition with non-financial industries “ and we can’t be held back by the s&ls problems,” he add ed. In his M BA President’s report, Mr. Welle stated that the Strategic LEFT—Joe Finley, pres., Janesville St. Bk. and wife Marge with Mary Ellen and John Lundsten, pres., Buffalo Natl. Bk. RIGHT— Matt Blair, Minn. Vikings; Peter Gillette, chmn., Northwestern Natl., Mpls.; Joe Senser, Minn. Vikings; Don Pederson, sr. v.p., Northwestern Natl., Mpls., and Bobby Bryant, Minn. Vikings. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 42 M in n e s o ta N e w s h FSM M a rie H tio il Bant IRA/Keogh p s and J o k e r s k ï II Vi «1 LEFT—Milan DeWitt, v.p., and Ellen Regan, v.p., Kanabec St. Bk., Mora, visit with Bill Addington, v.p., F&M Marquette, Mpls. RIGHT—Rose and Charles Schneider, exec, v.p., St. Bk. of Chanhassen with Penny and Curt Robbins, data process, off., Northwestern Natl., Mpls. & FSM Marquette national nano Keogh LEFT—Grace Jaeger, admin, assist., and Bill Klein, a.v.p., F&M Marquette, Mpls. with Jerry McGee, pres., Triumph St Bk., Trimont; RIGHT—Peter Welle and his mother Jeanette with Caryl and Ernie Pierson, exec, v.p., Midland Natl., Mpls. LEFT— Ross Bloomquist, chmn., 1st Natl. Bk., St. Peter; Tom Glesener, mktg. rep., and Patricia Olson, 1st Chicago Data Corp., Bloom ington. RIGHT— Dick Erickson, a.v.p., Midland Natl., Mpls.; Shirley Burns, Annadale St. Bk.; Don Gilmer, pres., State Bk. of Delano; Mary Lu Demet, Midland Natl., Mpls.; Paul Lindholm, pres., State Bk. of Maple Plain, and Roland Nordlund, pres., Town & Country Bk., Maplewood. Planning report undertaken by MBA for the association’s future, had been completed under the chair manship of Mr. Gowan and the re port was mailed to each MBA mem ber bank one week previously. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The annual banquet was enter tained with a repeat performance by noted pianist Roger Williams, who came up with another one-hour spec tacular musical program, accom panied by the Jerry Mayeron Or- chestra. Following the formal pro gram, guests enjoyed dancing to the orchestra until midnight. The 1983 convention will be June 20-21 at the Hyatt Regency Hotel in downtown Minneapolis. □ q W hen the bank guaranteed that you would only deal with one person, you didn’t know they m eant one after another. Perhaps it’s happened to you. Just when you had built up a working relationship with your correspondent banker, the bank moved him up the corporate ladder and off your business. All too often, a large bank can be insensitive to the needs of small respondent banks. Yet smaller banks that can give you plenty of personal attention can’t always give you the expertise and the clout you need. And you’re caught in the middle. You do, however, have an alternative: Midland National Bank. We’re big enough to handle any of your correspondent banking needs. But we’re still small enough to respond to your individual concerns. We’ve deliberately kept our Correspondent Division small, so that you can deal M idland National BANK Of Minneapolis M a in B a n k -4 0 1 2 n d Ave. S. G o v 't C e n te r O ffic e -3 r d Ave. S . a t 6 th S t. S t. Louis P a rk B r a n c h -3 6 0 1 P a rk C e n te r Blvd. Member Federal Deposit Insurance Corporation directly with a decision maker. Each of our correspondent bankers has from 12 to 25 years of experience in the business, so they thoroughly understand the needs of respondent banks. They take the time to personally call on both the respondent bank and the respondent’s customers. If you’re tired of banks that are too large or too small, come to Midland Bank. You’ll develop a close working relationship with one of our correspondent bankers. Not one after another. We’re big enoughto knowhowand small enoughto know you. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 44 Twin Cities orth w estern N ational Bank of Minneapolis recently announced the election of W. Gerald Jurgensen and Robert O’Connor as senior vice presidents. Mr. Ju rgen sen is head of the bank’s new trea sury department in th e b o n d group. He previ ously managed the treasury di vision. Mr. Jur gen sen jo in e d Northwestern in 1977 as a na tional accounts representative, transferred to Northwest Bancorporation as the assistant treasurer and returned to Northwestern Bank in 1979 as the senior asset/liability spe cialist for the asset/liability man agement committee. He was elected vice president and named manager of the asset/liability division in 1980. Mr. O ’Connor will head the opera ting systems and financial controls department in Northwestern’s Trust Group. He has an extensive back ground in all facets of trust opera tions and is currently vice president and manager of trust operations at the Bank of California, San Francis co. From 1969 to 1979 he managed the trust operations for Wachovia National Bank in Winston-Salem, North Carolina. Two vice presidents, four assistant vice presidents and 13 officers were also elected at Northwestern Nation al Bank. N S.H. MASON Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A. GILB Stuart H. Mason and Ardell C. Thomas C. Olander has been pro Gilb were elected vice presidents. Mr. moted to vice president at American Mason, who joined the bank in 1978, National Bank, was elected in the domestic group, St. Paul. Mr. eastern division in the national de Olander joined partment. Mr. Gilb will serve in the the bank in 1976 trust and investment group, trust in as a bond sales vestment services division of the in man. In 1978 he dividual services department. was promoted to Elected to serve as assistant vice bond investment president were: Margaret L. Wiita in officer, and in the trust investment services divi 1980 was made sion of estate and probate; Marvin a ssista n t vice TCOLANDER L. Anderson in the electronic data president. Prior processing division of the correspon to joining American he was with dent banking department; Steven D. Paine Webber. Rapp in consumer banking, Lincoln * * branch, and Steven F. Tiffenbach in The board of directors of the North the control and planning department. Elected to officer status were: western National Bank of St. Paul Christopher G. Hansen, commercial recently announced the promotion of F. banking; Carol Hollerich, Stephen E. Stephanie Regan and Mary P. Dredge, cash Iverson to assis management; Jamie Niethammer, in tant vice presi Lorrie vestments; Roger H. Young, bond in d en t; vestment; Rita L. Ruvelson, asset/ Johnson to teller liability management; David D. Nel services officer, Roberta son, probate; Scott Bolin, Ann C. and Kalkman, Stephen L. Stormoen and Lonzo to mark Cathy D. Yaeger, systems officers, eting officer. Ms. Iverson and Cheryl L. Ditch, international jo in e d N o r th banking. S.F. IVERSON western in 1972, * * * The direct leasing operation of First Bank System, Inc., which was formerly part of FBS Financial, Inc., has been realigned into a separate subsidiary, FBS Leasing Corpora tion. James R. Renner has been elected president of FBS Leasing. Mr. Ren ner has been associated with FBS Financial since 1974 when he joined the company as manager of the in terim loan department. In 1975 he transferred to the leasing division and was elected vice president in 1976 and promoted to division head in 1978. He was elected to his most recent position as senior vice presi dent of the leasing division in 1981. L. JOHNSON R. LONZO presently serving as teller services officer and manager. Ms. Johnson ® joined the bank in 1978 and is cur rently security tellers supervisor in the auto bank. Ms. Lonzo started in 1980 and is marketing communica tions coordinator in the marketing ® division. 45 Vfe w ant your business, notyour Because we are independent, we are sensitive to the changing needs, pressures, and problems faced by independent community banks. We view our role as being your part ner and helping you solve whatever problems you face. We believe in cooperation, not competition for your customers. It’s easy to put an American corre spondent banker to work for your bank today. Just call (612) 298-6331 A M E R I C A N N A T IO N A L https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BANK • SAIN T PAUL Northwestern Banker, July, 1982 46 M in n e s o ta N e w s Donovan E. Crouley, retired sen ior vice president of Northwestern National Bank of Minneapolis and a former president of the Minnesota Bankers Association (1955-56), died May 26 at his home in Maple Plain, Minn. He was 79. He is survived by one sister, Mrs. Donald Dean Goodman, who resides in Oceanside, Calif. Mr. Crouley’s 48 years in banking began when he joined Northwest ern’s transit department in Septem ber, 1917. He was later transferred to the correspondent banking divi sion, which he managed for more than 20 years until his retirement in 1965. He was appointed assistant cashier in 1936, elected vice presi dent in 1945 and senior vice presi dent in the late 1950’s. * * * Ms. Brinks started with Banco in 1968, serving most recently as mar keting consultant. Mr. Lewison joined Banco in 1967, moving to the consumer banking division as man ager of consumer banking systems in March of this year. Ms. RulonMiller works on retail product development and started with Ban co in 1979. * * * Sandra P. Chevalier and Walter O. Rukke have been promoted to assistant vice president, Midland National Bank of Minneapolis, and Richard G. Spiegel, p resi dent of LaMaur Inc., has been elected to the board. The board of directors of First Mrs. Cheval Bank System, Inc., has elected Jef ier joined Mid frey S. Smith, vice president and land Bank in manager of direct compensation pro1977 as superS.P. CHEVALIER g ra m s; Paul Clavadetscher and James (J.P.) Mansfield to as sistant vice pres id en t-tra in in g , and Marilyn G. Carlson to opera tions officer-offpremise banking. W alter D. Tomaszek a n d J S. SMITH W.O. RUKKE R.G. SPIEGEL Bruce A. Hagen have joined FBS Business Credit, Inc. as assistant visor of the transit department and vice presidents. Mr. Smith joined the human re was elected an operations officer in sources division of FBS in 1978 as as 1978. Mr. Rukke joined in 1972 and sistant vice president and manager was promoted to his latest position of direct compensation programs. Mr of operations officer, internal con Clavadetscher joined in the human trol, in 1979. * * * resources division in 1980 as training officer. Mr. Mansfield has served as training officer since 1979. Ms. Carl Michael J. Kukielka has been ap son previously served as operations officer at First Bank Bloomington pointed real estate loan officer of Lake, Minneapolis, where she had N ation al C ity Bank of Minne been employed since 1964. Mr. Tomaszek previously was apolis, according with Banco Financial as assistant to James H. I I I, vice president and senior loan officer. Hearon, Mr. Hagen had been with General p resid en t and chief executive Electric Credit Corporation. officer. * * * Mr. Kukielka Recently promoted in the consum recently joined er banking division of Northwest the staff of Na Bancorporation were: Shirley A. tional City after MJ' KUKIELA Brinks and Albert M. Lewison, Jr., being employed by Farmers and to assistant vice president and Lucy Mechanics Savings Bank of Minne Rulon-Miller to marketing officer. apolis. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Phil Hunt has been elected vice® president and Thomas R. Madden, assistant vice president at First Bank Security, St. Paul. Mr. Hunt be gan his career in 1958 with First Bank Minneap olis. His most re ce n t p o s it io n was a vice pres ident in opera tions with First Bank Edina. Mr. Madden began his career in ® 1974 with First Bank Bismark as a management associate. His most re cent position was as assistant vice president at First Bank White Bear Lake. • * * * Carl R. Pohlad, president of F&M Marquette National Bank, recently ^ announced the promotion of Ronne Nielsen and Jeri Slinger to assistant vice president in the commercial loan department and Sandra Sickles to money market officer. Mark <§ Schabert has recently joined the bank as correspondent credit officer. R. NIELSEN J. SLINGER Mr. Nielsen joined the bank in 1973, serving most recently as com mercial loan officer. Ms. Slinger joined in 1979 as a credit analyst. In 1980 she was named a commercial loan officer. Ms. Sickles came to Marquette in 1980 as an investment clerk. Mr. Schabert was with the Federal Land Bank of St. Paul as director of marketing development and services. 47 IT'S NO SECRET! W E ARE SE R IO U S A B O U T THE SE R V IC E W E OFFER! H A V E Y O U EVER H AD A PROBLEM FITTING Y O U R PR O G R AM TO Y O U R C L IE N T S ’ NEEDS ? W E WILL IN D IV ID U A LLY TAILO R PR O G R A M S TO Y O U R SPECIAL S IT U A T IO N S . W E AR E HERE TO HELP Y O U ! Minnesota Protective Life Insurance Company 7901 FLYING CLOUD DRIVE • EDEN PRAIRIE, MINNESOTA • 5 5 3 4 4 TELEPHONE (61 2) 9 4 4 - 3 9 0 0 Don M e n d e le C al O p s a h l https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C liff Ekdahl Northwestern Banker, July, 1982 48 When McNally Industries needed a loan, we m oved into high gear O ut overline participation has been instrumental in their success. W hen a customer looks to you for a loan, he doesn't want to hear that your loan committee meets once a week. He wants a fast response. And, when the loan requires participation, you expect the same kind of response from your correspondent. At First Bank Saint Paul, we provide comprehensive credit services to our correspondents. Each of our calling officers is trained to be as responsive as you are in meeting and understanding your customers' borrowing needs. For example, when McNally Industries, a precision gear manufacturer, decided to acquire a new product line, they needed a decisive loan response from First Bank of Grantsburg— not a "wait and see" approach. That's why their bank came to the Correspondent Banking Division of First Bank Saint Paul. They knew they would get prompt and total support. ♦ Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Our correspondent banking team is headed by Dale Hanson. Since 1968, Dale has been the head of a commercial loan division and a member of the senior loan committee. His experience has taught him the value of total support for you and your customer. A nd if that means joining you and the calling officer in the field, to better understand their needs, he'll do it. It is this kind of concern from Dale Hanson and our calling officers that sets First Bank Saint Paul apart. W e have the resources and lending capabilities to help your customers grow. And when your customers grow, we all benefit. If you are interested in a correspondent banking relationship that is committed to your customers as you are, call our Correspondent Banking Division at 291-5585. First Bank Saint Paul Member First Bank System C orrespondent Banking Division 332 Minnesota Street Saint Paul, Minnesota 55101 Il* ' v:*? https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 50 M in n e s o ta N e w s “Downtown Plymouth” Facility Opens LOCATED at Hwy. 55 and Plymouth Blvd., First Bank Plymouth’s new main bank facility is the first commercial building up and open in the new officially designated “ downtown” Ply mouth. The 10,000 sq. ft. facility has a staff of 20 bankers and offers full-service commer cial and retail banking. In addition to business and consumer loans, there are complete safe deposit services, four drive-in lanes and a 24-Hour First Bank Service for cash ad vances, deposits, transfers and loan payments. Two Named at Brainerd Gordon E. Winzenburg recently joined Citizens State Bank, Brain erd, as vice president in the com mercial loan department. He will have the loan department respon sibilities of Tom Welle, who ac cepted the position of president at International State Bank, Interna tional Falls. Diane Runberg was elected to the position of assistant vice president/comptroller. She had been serving as comptroller. loan manager, Tim Erickson to in stalment loan officer, Jim Morrissey to assistant instalment loan officer and Barbara Bjerken to real estate loan officer. Retires From Edina Bank Mary Stewart, assistant vice president-operations department of First Bank Southdale, Edina, re cently retired after 30 years of employment with First Bank Sys tem. Ms. Stewart began her banking career at First National Bank of Minneapolis in 1949 and joined the Edina bank in 1964. Elected in Fergus Falls G.E. WINZENBURG D. RUNBERG Prior to moving to Brainerd, Mr. Winzenburg was a vice president at the Princeton State Bank, working with commercial industrial and agricultural loans. Ms. Runberg has been with the bank for eight years as secretary to the president, bank auditor and as marketing officer. Six Promoted At Thief River Falls Bank Northern State Bank in Thief River Falls recently announced the promotions of Jack William, Jr. to assistant vice president and agri cultural representative, Robert Lundbohm to assistant vice presi dent, Rosie Fournier to instalment DigitizedNorthwestern for FRASERBanker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Robert D. Phillips, president of Northwestern National Bank of Fer gus Falls, recently announced the election of Brent Montgomery to agricultural loan officer. M r. M ont gom ery joined the bank in 1980 under the bank managem ent training p ro gram. He prep B. MONTGOMERY viously was em ployed by Montgomery and Sons Livestock of West Fargo, N.D. Grand Rapids Names Two Doup Gallop, president of First N orth w estern N ational Bank, Grand Rapids, recently announced the promotion of Dave Groshong to vice president and head of the com mercial loan department, and LeVerne Ayotte to branch manager of the Southside office. D. GROSHONG L. AYOTTE Mr. Groshong had previously been employed by ITT Thorp Cor poration for two years before joining the bank staff in 1977 as instalment# loan officer. He was promoted to as sistant vice president in 1980 and branch manager at the Southside of fice in 1981. Ms. Ayotte joined the bank in 1962 and has worked in# bookkeeping until 1979, at which time she was promoted to personal banking officer. Joins Golden Valley Bank Sandra M. Dockter has recently joined the staff of Golden Valley Bank, Golden Valley, as a co m m e r" cial lending of ficer. She moved to G olden Valley from R ichfield Bank & Trust Co., where for three years she held the position of assistant vice president of con sumer lending. S'M' D0CKTER Previously she worked for ten years at Marquette National Bank. M s.^ Dockter started her banking career at Dakota State Bank, Milbank, South Dakota. Groundbreaking Held Security State Bank, Cannon Falls, recently broke ground for the construction of its new building t o # be located at Park and 4th Streets. The 60 x 116 ft., 6,000 square foot building will feature three drivethrough lanes and parking lot area on 4th street. Construction is ex-# pected to be complete in six months. M in n e s o ta N e w s Two Promoted in Crystal Applications Approved At Crystal State Bank, Crystal, Verdella M. Floding recently was promoted to assistant vice president of bookkeeping operations and Ber nice Wotzka to assistant operations officer of bookkeeping. The Federal Reserve Bank of Min neapolis recently announced its ap proval of the following applications: Chisago Bancorporation, Inc., Minneapolis, to acquire Chisago State Bank, Chisago City; Evans ville Bancshares, Inc., Evansville, to acquire Farmers State Bank of E v ansville; Farmers and Merchants Financial Services, Inc., New Ulm, to acquire Farmers and Merchants State Bank of New Ulm; Vesta Bancorporation, Inc., Vesta, to acquire Vesta State Bank; Century Ban corp, Inc., New Brighton, to acquire Centennial State Bank of Lexing ton, and Ceylon Bancorporation, Inc., Ceylon, to acquire State Bank of Ceylon. V. FLODING B. WOTZKA Ms. Floding moved to Crystal State Bank in 1962 after four years with Northwestern Bank of Minne apolis. Ms. Wotzka joined the bank in 1973 from Citizens State Bank of Morris. Richfield Appointment Told W. Joseph White recently was ap pointed assistant vice president, commercial loan officer of Rich field Bank & Trust Co., Rich field. Mr. White has spent 16 years in commercial banking, m ost recently with the Northwestern National Bank W.J. WHITE of Minneapolis and previously with the Indiana National Bank, Indian apolis, Ind. Luverne Bank Celebrates 100 The Northwesten State Bank of Luverne observed its 100th anniver sary of banking during the month of May. It was issued its state charter on May 2 , 1882, the second state bank to be chartered in Minnesota. To strengthen its financial posi tion, Rock County Bank chose to af filiate with Northwest Bancorporation in 1929. The new name of North western State Bank of Luverne was adopted in 1968 to more closely identify it with other member banks. A month long celebration climaxed on May 20 with a porkburger feed, served by bank directors and em ployes to approximately 2,500 cus tomers and friends. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 51 Polk County State Bank, char tered in 1913, changed its name to First American Bank on June 1st. The bank is part of the Bremer bank group and a major reason for the change is to provide a closer identity among the Bremer banks. Two Elected to Board Northwestern National Bank of Rochester recently announced the election of Michael J. Myers, admin istrator of Saint Marys Hospital, and Robert V. Walker, president of the Kahler Corporation, to the board of directors. Their terms began June 2 2 . Worthington Names Two The State Bank of Worthington has announced the promotion of Nancy A. Hamman to assistant cashier and Pat Linder to personal loan officer. M.J. MYERS R.V. WALKER Hastings Officer Elected N.A. HAMMAN P. LINDER Mrs. Hamman was first employed by the bank in 1978 as a teller at the main bank facility. In 1980 she was promoted to head bookkeeper. Mrs. Linder began at the bank in 1979 and was promoted to instal ment loan clerk later that year. Crookston Executive Named Marlin Winkelman has recently joined the staff of First American Bank of Crookston as executive vice p resid en t and member of the board of direc tors. Mr. W inkel man previously was a vice presi dent with West ern B a n k o f Sioux F al l s, South Dakota, WINKELMAN where his pri mary responsibility was with the real estate department. Michele P. Bohlig was elected marketing officer of the North western Na tional Bank of Hastings. She started her career with th e b a n k as bookk eeping clerk and later w as named bookk eepin g supervisor. She MP_ b o h l ig became associ ated with the marketing function in Februarv, 1981. Deluxe Check Signs With New Ad Agency Deluxe Check Printers, Inc., St. Paul, has named Fallon McElligott Rice its advertising agency-of-record. Deluxe is the leading national producer of checks, deposit tickets, and related forms for use by finan cial institutions and their depos itors. Deluxe has plants nationwide in order to provide quick, depen dable service to bank customers in all fifty states. The announcement was made by Paul Blackburn, assistant advertis ing manager for Deluxe, and Pat Fallon, president of Fallon McElli gott Rice, Minneapolis. Northwestern Banker, July, 1982 52 of directors of The Guthrie Theatre Q Foundation, Minneapolis. Recog nized as one of the premier Amer ican regional theatre companies, The Guthrie Theatre celebrated the beginning of its 20th season in June. O C.P. M oore has served as president and chief executive officer, Northwestern National Bank of Sioux Falls, since October, 1975. / South Dakota D.O . M e h lh a ff, pres., E ureka J. M . S ch w a rtz, exec. m g r . , Pierre Three Named in Sioux Falls At the Northwestern Bank, Sioux Falls, Keith C. Goodhope, assistant vice president and assist ant manager at the Parker Branch, has been named vice president and manager; Curtis W. Zaske, ag loan officer at the Brookings Branch has been K.C. GOODHOPE appointed assis- C.W. ZASKE K.H. GOEHRING tant vice president and assistant manager, and Keith H. Goehring, ag loan representative at the Madison Branch, was named ag loan officer. Mr. Goodhope joined the bank’s Lake Preston Branch in 1972 as in surance representative and was named assistant vice president and assistant branch manager, his most recent position, in 1979. Mr. Zaske joined the bank in 1977 and was named ag loan officer in 1979. Mr. Goehring, who joined the bank in 1981, previously worked at the First National Bank of Aber deen, Mobridge Branch. Yankton Staff Changes Told American State Bank, Yankton, recently announced the following of ficer changes effective during its May meeting of the board of direc tors: Gilbert E. Mjoen, senior vice pres ident, cashier and comptroller; Kar Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis en K. Fischer, senior vice president; M. Lynn Steffen, assistant vice pres ident, chief of operations and per sonnel officer; Lois Steenhoven, as sistant vice president and bookkeep ing manager; LaVonne T. Halvorsen, assistant cashier and assistant oper ations officer; Janice McDonald, assistant cashier and assistant bookkeeping manager, and Diane Rehurek, assistant discount officer. Sioux Falls Transfers Told United National Bank, Sioux Falls, recently announced that John Overby has transferred to the bank’s Viborg branch to serve as as sistant vice president and branch manager. Mr. Overby joined United in 1975. He has served as branch manager of the Brandon branch the last four years. Deward Roth, assistant vice pres ident and branch manager of the Valley Springs branch will become branch manager at the Brandon branch. He has been with the bank since 1971. United also announced that Jim Hallock will move to the Rapid City branch as assistant vice president and assistant branch manager. Mr. Hallock joined in 1980 as branch manager of the 41st Street Branch in Sioux Falls. Elected to Theatre Board C.P. “ Buck” Moore, president, Northwestern National Bank of Sioux Falls, was elected to the board Application Approved The Federal Reserve Bank of Minneapolis recently approved the application by Commercial Holding 4) Company, Wagner, to acquire the Commercial State Bank of Wagner. Western Bank Election Told T.J. Reardon, president and chief ® executive officer of Western Bank, Sioux Falls, has announced the elec tion of Harold Van Der Wilt as mortgage servic ing officer. A native of S ib le y, Iowa, Mr. Van Der Wilt joined the mortgage bank in g division f o l l o w i n g his graduation from H' VAN DER WILT ^ Mankato State University. Bank Holding Companies Select President-Elect ^ Will F. Nicholson, Jr., president of Colorado National Bankshares, Inc., Denver, has been elected chairman-elect of the Association of Bank Holding Companies at the re- 0 cent annual meeting of the Associa tion in San Antonio. Mr. Nicholson will assume the chairmanship of the Association in June of next year, succeeding H. # Furlong Baldwin, president of Mercantile Bankshares, Inc., Bal timore, Md. # Sou th D a k o ta G roup M e etin g s Date September September September September September Group 13 14 15 16 17 1 3 5 4 2 Location Minnehaha Country Club, Sioux Falls Holiday Inn, Mitchell Bavarian Inn, Custer Moose Lodge, Mobridge Sheraton, Aberdeen « • 53 was reported that some of the golf ers ran afoul of the resident ducks and geese and opted for penalty strokes rather than risk retrieving golf balls errantly shot near the nesting fowl. Less hazardous events of the day included the mens’ and ladies’ bowling tournaments. The evening was hightlighted by the President’s Reception and Dinner which included a humorous and motivational presentation by Newt Hielscher of Shreveport, Louisiana. A western dance followed the dinner and featured the music of the Tibor Brothers. pres., American St. Bk. & Tr., Williston; Pres. Elect.—Darold Peterson, pres., Lakeside St. Bk., New Town; V.P.-Treas.— Robert Westbee, pres., 1st Bank, Bismarck, and Past Pres.— Tom Roney, pres., Foster Cty. Bk. & Tr., Carrington. • John McGinley Elected to Head NDBA By STEVE BURCH Associate Publisher HEMED “ Energetic Banking for the Eighties,” some 450 bankers attended the 97th annual North Dakota Bankers Association convention in Minot May 24-25. Highlighting convention activities was the election of John McGinley to serve as N DBA president for the coming year. Mr. McGinley is presi dent of American State Bank & Trust Company of Williston and will succeed Tom Roney, president of Foster County Bank & Trust Com pany of Carrington. Advanced to president-elect was Darold Petersen, president of Lakeside State Bank in New Town and elected vice presi T dent/treasurer was Robert Westbee, president of First Bank, Bismarck. In other action, A B A members elected Wayne Stroup, president of Garrison State Bank, to a two-year term on the A B A Council. He joins Carlyle Austinson, president of the Northwood State Bank who will serve as NDBA state A B A vice pres ident for the year. Also, Lee Stenehjem was honored with a plaque as he became a member of the 40 Year Club. Mr. Stenehjem is president of the First International Bank in Waltford City. The beauty of the pine trees and lakes of the Minot Country Club pro vided the backdrop for the mens’ and ladies’ golf tournament which kicked-off convention activities. It The second day of the convention began with the Prayer Breakfast and inspirational message by former Minnesota Viking Karl Kassulke. Complimenting the bankers for in cluding a time for prayer in the con vention, Karl told of the motorcycle accident which severed his spinal cord and has confined him to a wheelchair. He said that despite the “ nuisance” of the wheelchair, he has found perfect peace and joy through Christian fellowship and prayer. Fol lowing breakfast, the general ses sion was called to order by NDBA President Tom Roney who intro duced Minot Mayor Tom Lee who gave an opening welcome. “ Eat plenty of oatmeal, use your seat belts and don’t smoke” was among the advice given to the bank ers by Dr. Howard Pyfer of Seattle, Washington. A health and fitness consultant, he offered many sugges tions in his “ Prescription for the Rest of Your Life” which will con tribute to a longer and healthier life span. Control of stress, regular exer cise, not smoking and maintaining a proper diet supplemented with vita- NDBA Convention speakers included from le ft— Mark Willes, exec, v.p., General Mills, Mpls.; Karl Kassulke, former Minnesota Viking; ABA Pres. Elect-Designate Bob Brenton, pres., Brenton Banks, Inc., Des Moines, and Larry Connell, pres., Washington Mutual Sav. Bk., Seattle. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 54 North D a k o ta N e w s Gary Bergstrom, v.p., Natl. Bk. of Harvey; JackQuitmeyer, a.v.p., 1st Natl., Mpls., and wife Kathy; Glenn Heitzman, c.e.o., 1st Natl., Devils Lake, and Lenny Kiski, corr. bkg. off., 1st Natl., Mpls. mins and minerals were the areas most emphasized by Dr. Pyfer. Danny Wall, staff director of the Senate Banking, Housing and Ur ban Affairs committee directed his early remarks to the House leader ship in Washington whom he ac cused of playing games with the Senate version of the 1983 budget. Calling Rep. Tip O ’Neill’s approach to the budget short sighted, he sees a lengthy battle ahead before any agreements can be reached. He also predicts a watered-down version of the Garn Bill being passed some time in June. Mr. Wall said that due to the concerns for the ailing thrift industry, no favorable banking leg islation would come out of Washing ton that might have a negative ef fect on the thrifts. A B A President-Elect Designate Robert Brenton, president of Brenton Banks, Inc., Des Moines, Iowa, followed with the A B A ’s views on the national economy and legislative activity in Washington, D.C. With prolonged budget debate leading the economy closer and closer to a crisis condition, he outlined the A B A rec ommendation to Congress for a bi partisan budget. The results ex pected from this recommendation are a significant downward trend in the ratio of government spending to the GNP, a significant reduction in the deficit and clear evidence that both bodies are willing to make hard choices on expenditures and taxes. Mr. Brenton also expressed the hope that Congress will soon grant bankers expanded powers that will allow them to compete more effec tively with unregulated, nonbank financial service companies. He feels that action is needed soon since D ID C ’s “ lackadaisical and foot dragging’ ’ response to deregulation could soon cost the bankers a “ lost generation of depositors.’ ’ The speakers program was com pleted by Lawrence Connell, presi dent of Washington Mutual Savings Bank in Seattle and Mark Willes, vice president of General Mills, Min neapolis. The convention was brought to a close with a social ban quet and entertainment from the Spurrlows. Kent Mongeon, exec, v.p., St. Bk. of Towner; Bill Smith, N.D. State Development Credit Corp.; Mike Coffey, sr. v.p., NW Natl., Valley City, and Ralph Schreiner, v.p., 1st Natl., Minot. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Herb Thorndal, pres., Bk. of N.D., Bismarck; Dan Schorsch, pres., 1st Natl., Jamestown, and Don Johnson, v.p., American Natl., St. Paul. Fargo Bank Names Two V.P.s George W. Schwartz, president of First National Bank of Fargo, has announced the appointment of Ron Braseth as vice president, agri cultural loans/correspondent bank ing and Greg Sorensen as vice presi dent, retail banking. Mr. Braseth began his banking career in 1968 with Northwest Com puter Services and joined First Na tional as agricultural loan officer in 1976. Mr. Sorensen began his banking career in 1972 with First North western National Bank of Marshall, Minn., joining the Fargo bank in 1977. Stock Dividends Increased The Department of Banking and Financial Institutions, Bismarck, reported the following North Da kota banks have increased their capital by stock dividend: Security State Bank of Hannaford from $75,000 to $150,000, and Farmers & Merchants Bank of Wim bledon from $50,000 to $100,000. Ned Mayer, chmn., Dakota NW Natl., Bismarck; Dick Wold, pres., 1st Natl. Bk. in Grand Forks; John Rouzine, retired, 1st Natl., Bowman, and George Johnson, chmn., 1st Natl., Minot. North D a k o ta N ew s John McGinley, pres., American St. Bk. & Tr., W illiston; Darold Petersen, pres., Lakeside St. Bk., New Town; LeRoy Lokken, v.p., Bank of Tioga, and Morris Nelson, pres., Scandia American, Stanley. 55 *5^ Carl Jahr, rep., Pat Rogers Assoc., Billings; Gary Nelson, v.p., Scandia American, Stanley; Al Bowman, pres., Dakota Western, Bowman, and Roger Berglund, exec, v.p., Dakota Western, Bowman. NDBA Past Pres. Tom Roney (center) receives plaque from John Hus ton, (left) corr. bkg. off. and Don Pederson, sr. v.p., NW Natl., Mpls. Golf Chmn. Bob Turner, sr. v.p., 1st Bk. of N.D., Minot, between assis tants Jan Schossow and Hope Van Dyke both with 1st Natl., Minot. Dan Schorsch, pres., 1st Natl., Jamestown; Jim Noonan, pres., 1st NW Natl., IMandan; Bill DuToit, sr. v.p., 1st Natl., Jamestown, and Gary Flaa, sr. v.p., 1st NW Natl., Mandan. Gary Rohlfsen, a.v.p., American Natl., St. Paul; Buzz Hulett, a.v.p., Fed. Reserve Bk., Mpls., and Jim Gartneir, Comptroller of Currency, Mpls. Minnesota visitors Truman Jeffers, exec, v.p., MBA, and wife Leila with MBA Pres. Robert Welle, chmn., 1st Natl., Bemidji, and wife Jeanette. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Dave McAdoo, a.v.p., American St. Bk. & Tr., W illiston; Kenneth Erickson, v.p., 1st Natl. Bk & Tr., W illiston, and Stan Peterson, v.p., Midland Natl., Mpls. 0 Northwestern Banker, July , 1982 56 N orth D a k o ta N e w s Harry Argue, exec, dir., NDBA, and wife Linda with Susan and Roger Berglund, exec, v.p., Dakota Western, Bowman. Bruce Hebei, a.v.p., 1st Natl., St. Paul; G.W. Melgaard, v.p., Farmers St. Bk., Crosby, and Gary Hanisch, pres., Farmers St. Bk., Crosby. Tom Mork, corr. bkg. off., 1st Natl., St. Paul; Norb Conzemius, sr. v.p., 1st Bk. Systems and wife Mary Ellen, and Ollie Hagen, pres., 1st Bk., of N.D., Fargo. James Noonan, pres., 1st NW Natl., Mandan and his wife Marion; Bill DuToit, sr. v.p., 1st Natl., Jamestown and his wife Joanne, and Gary Flaa, sr. v.p., 1st NW Natl., Mandan, and wife Darlene. LEFT— Ralph Grams, op. off., McIntosh Cty. Bk., Ashley; Lenny Kiski, corr. bkg. off., 1st Natl., Mpls.; Dick Carey, corr. bkg. off., 1st Natl., St. Paul; Jack Qjitmeyer, a.v.p., 1st Natl., Mpls., and Gary Bergstrom, v.p., Natl. Bk., Harvey; RIGHT—(Front Row) Jack Campion, v.p., F&M Marquette, Mpls., and wife Mary; Rose Gerhart, Mandan, and Herb Throndal, pres., Bk. of N.D., Bismarck. Back Row—Gaylin Melgaard, v.p., Farmers St. Bk., Crosby, and wife Sandy; Bert Gerhart, v.p., Mandan Security Bk., and Bill Klein, a.v.p., F&M Marquette, Mpls. Elected in Bismarck H.L. Thorndal, president of Bank of North Dakota, Bismarck, has an nounced the appointment of Jeannine Christy as head of the bank’s student loan division. Ms. Christy has been with the bank since 1968 in the student loan division, serving most recently as vice president. She replaces Martin Stenehjem, who recently was named head of the state’s newly created State Student Loan Guarantee Agency. Two Elected to Board First National Bank of Jamestown recently announced the election of Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Curtiss O. Goehner and Raymond R. Heupel to the board. C.O. GOEHNER R.R. HEUPEL Mr. Goehner currently is owner and president of the Eddy Funeral Home. Mr. Heupel is owner and oper ator of a 3,200 acre ranch with feedlot. Joins Mandan Bank Bernard A. Meier has recently joined the staff of First North western Bank of Mandan as com mercial loan of ficer. Mr. Meier has been asso ciated with Man dan S e c u r i t y Bank for the last eight years and B.A. MEIER is a 1974 grad uate of the University of North Dakota with a degree in business ad ministration 57 Sutter, Casper. Il|. GUIDING the Wyoming Bankers Association in 1982-83 will be this team (from left): Exec. Vice Pres.— M. Clare Mundell, Laramie; Immed. Past Pres.— Donald R. Wassenberg, pres., State Bank of Big Piney; Pres.— Henry A. Hitch, pres., First Interstate Bank of Casper, N.A.; 1st Vice Pres.— Don H. Babbit, pres., Stockgrowers State Bank, Worland, and 2nd Vice Pres.— Robert T. Noel, pres., First Wyoming Bank, N.A., Cheyenne. • Henry Hitch Named Wyoming President By BEN HALLER, JR. Editor and Publisher w _ w q ^ ^ # # # IVil ORE than 600 registrants atIV I tended the Wyoming Bankers Association’s 74th annual conven tion, testing to capacity the excellent facilities at Jackson Lake Lodge, Moran. Henry A. Hitch, president, First Interstate Bank of Casper, N.A., was advanced to the W B A presidency, succeeding Donald R. Wassen berg, president, State Bank of Big Piney. Don H. Babbitt, president, Stockgrowers State Bank, Worland, moved up to become first vice president. Named to succeed him as se cond vice president was Robert T. Noel, president, First Wyoming Bank, N.A., Cheyenne. M. Clare Mundell, Laramie, continues as executive vice president and associa tion manager. Kenneth C. Naramore, president of Stockmen’s Bank and Trust Com pany, Gillete, was elected as one of two Wyoming representatives on the A B A Council. Robert W. Mir acle, president, Wyoming National Bank of Casper, is the other Council member and will be A B A state vice president. The Executive Council members announced are: One-year terms — Russell E. Knight, president, National Bank of Newcastle; Sherrod W. France, pres ident, The Rawlins National Bank; https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Hale Kreycik, president, Converse County Bank, Douglas, and Jack Crews, president, American Nation al Bank, Cheyenne. Mr. Wassenberg also will have a one-year term on the executive council as immediate past president. Two-year terms—John Lucas, Jr., executive vice president, North Side State Bank, Rock Springs; William H. Ruegamer, president, Bank of Commerce, Sheridan; Dick Van Pelt, president, Bank of Laramie, and Kenneth L. Miller, vice president and cashier, Shoshone-First Na tional Bank, Cody. Following usual custom, the golf and tennis tournaments and the fishing derby took place on opening day, Wednesday, June 9. John Easterbrook, First Interstate Bank, Laramie, was “ athletic director,’ ’ assisted by “ trainers” Bill Tumelty and Rick McElroy of Central Bank, Denver. “ Coaches” for golf were John Edmiston, Denver National Bank; Gene McMillen, First Wyoming Bank, N.A., Rawlins, and Eugene T. Hayes, First W yom ing Bank, Wheatland. Handling the Fishing Derby were “ coaches” Dean Bark, Jackson State Bank, and Sherrod France, Rawlins National Bank. Tennis “ coaches” were Dick Nelson, First National Bank, Pow ell; E.S. “ W oody” Haines, First In terstate Bank, Laramie, and Bob Hilltop National Bank, Speakers Douglas Kiker, NBC national af fairs correspondent, pointed out that the nation’s system of binding primaries has practically eliminated the “ dark horse” candidate from presidential elections, since 36 states abided by such a rule last time and 38 will do so in 1984. He also pointed out how special interest groups (ERA, abortion, NRA, etc.) have affected national politics, and how the lack of voter turnout (52% in 1980) affects the nation’s future. He pictured President Ronald Reagan as a man “ caught in the middle,” a man who is doing nothing more than what he has preached for 18 years, and a leader whose time has come and who will be vindicated by history from the adverse picture being painted of him by die-hard ad herents to the followers of Lyndon Johnson politics, the man Mr. Kiker labeled as the one who started the entire financial difficulty in which the nation now finds itself. Pointing to degeneration, crime, break-up of families and plain bad taste in so many facets of today’s society, Mr. Kiker said “ it looks like no one cares. But that’s really not true. Pride is still there and it needs only leadership to pull us out. Presi dent Reagan is tougher, smarter and more determined than you think., he is a decent man. He has done more in his first 18 months than anyone since Roosevelt. He’s stubborn, but determined. It ’s a big economic gamble. We can’t get out of the mess in 20 months that took years to build up. If interest rates will ease and unemployment will come down, he’ll hold House losses to a min imum. If they don’t come down, he may lose 30 House seats and pos sibly the Senate. If so, he will then be another Eisenhower. But he’s still strong, in command, sticking to his guns...He believes he’s the last President who will have such an op portunity (to cut the budget and tax es). He’s not obstinate—he’s smart, knows what he’s doing, and I believe he deserves our support.” Lee Gunderson, immediate past president of the A B A and president of the Bank of Osceola in Osceola, Wis., picked up on Mr. Kiker’s re marks and said “ If Congress fails (in its budget-cutting effort), it’s possi ble we’ll see rates go back up and then the ball is in the court of the Northwestern Banker, July, 1982 58 W yom in g N e w s LEFT Janet and Homer Scott, Jr., pres., Commerce Bancshares, Sheridan, with Jan Murray, a.v.p.; Carol Green; Terry Tangen, (rear), v.p., and Charles Green, exec, v.p., all with 1st Natl., Denver. RIGHT—John Edmiston, sr. v.p., Denver Natl., who was co-chmn. of the golf tourney, and Don H. Babbitt, pres., Stockgrowers State, Worland. # LEFT—Jack H. Babcock, v.p., Omaha Natl., Omaha, and his wife, Dottie, with Pat and Jack Guthrie, chmn., Bank of Laramie. RIGHT—Sam Addoms, pres., Denver Natl., and his wife, Cathy; Steve Sheridan, v.p., Denver Natl., and Sherry and Chuck Jones, exec, v.p., American Bank Corp., Denver. LEFT Janice and Paul Gargula, corr. bk. off., 1st Natl., Chicago; Maggie and Bob Miracle, pres. & c.e.o., Wyoming Natl., Casper, and Bill Tumelty, v.p., Central Bank of Denver. RIGHT—Mark Hahn, corr. bk. off., 1st Natl., Lincoln, Nebr.; Wayne Hoskinson, pres., Sioux Natl., Harrison, Nebr., and his wife, Joanne, and Gary Bieck, v.p., 1st Natl., Lincoln. Fed to hold down the screws to tie down inflation.” (A budget compro mise was reached after his talk but had not been cleared by the con ference committee at this writing.) Mr. Gunderson said this is the hour of the nation’s history in which we need statesmen in Congress and not politicians. He reviewed S. 1720, the DIDC inaction, and non-financial compe titive scenes, laying out A B A con sensus policy arrived at during A B A Leadership Conferences in recent, months. At the final morning session, an excellent film and talk on “ Sexual Harassment” was presented by Pa Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tricia Linenberger, associate pro fessor of business law at the Univer sity of Wyoming, Laramie. She has done extensive research on this top ic, has published articles and has conducted dozens of seminars on campuses and for business firms to help them deal with this pressing legal problem. Through the film and her own experience on the campus and with business firms, she cited numerous cases that violate the 1964 Title VII Civil Rights Act, dealing with sexual harassment. These cases range from verbal horse play and suggestive language by fel low workers or superiors to outright sexual abuse. Professor Linenberger’s urging to the bank executives was to have firmly in place a written code of con duct for bank staff dealing with this topic, as well as monitoring of it so the bank will not be open to unneces sary heavy lawsuits that have plagued some business firms. W yoming’s U.S. Senator Malcolm Wallop was home from Washington to give members his update view of the current efforts in Congress to deal with the nation’s economic stagnation and the need for a workable budget. The 1983 convention has been scheduled at Jackson Lake Lodge, from June 15 to 17. □ ® ® ® . ^ 59 COVERING THE ROCKIES ^ W ITH FAST, DECISIVE RESPONSE. Colorado National Bank correspondent bankers react. Quickly. Responding to your request with out del ay... or excuses. This high degree of respon siven ess has earned us a reputation among our progressive and profitable respondent banks throughout the area ... a reputation for delivering the full range of correspondent banking ^ services, quickly... as opposed to just promising them, quickly. It’s a reputation in which we take pride. A reputation we intend to continue. Next time you’re pressed for fast turnaround on any correspondent banking situation, call _ (303)893-1862. And watch how fast we respond. g ? M nnr' ^ £ INC § COLORADO NATIONAL BANK W e m ake big ideas happen. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member FDIC Northwestern Banker, July, 1982 Casper Bank Recognizes Two First Interstate Bank of Casper, N.A., recently promoted Eric Paul to vice president and investment of ficer, announced Henry A. Hitch, president. Mr. Paul has been with the bank since Sep tember of 1978. During that time he has worked as a teller and in the operations and investment de partments. Jo Ann Jackson, financial services officer, was recently honored for 25 years of ser vice to the banking industry. She started with First Interstate Bank, formerly First National Bank of Casper, in 1955. Low Interest $ Goes Fast People lined up early and some stayed overnight at 53 financial in stitutions across the state to take advantage of $55 million worth of 12 7/8% interest, state money for home mortgage loans. The 1981 Legislature authorized the state Farm Loan Board to distri bute the money through the 53 fi nancial institutions. The money, which came from the state’s perma nent mineral trust fund, was allo cated to 37 banks, 11 savings and loan institutions and five mortgage bankers across the state. Under the program, home buyers can borrow up to $80,000 to pur chase new and existing housing. Potential homebuyers must have in comes below $35,000 a year and must plan to live in the house. Wyoming Bancorporation Sets New Records for 1981 At the annual meeting, May 20, of Wyoming Bancorporation, David R. Johnson, chairman, president and chief executive officer, informed shareholders that the company had set new records in its operating results for 1981. Business at the meeting included the shareholders approval of an amendment to change the corporate name to First Wyoming Bancorporation. Also 14 director s were elected, with two newly elected: Brenton C. Leavitt, retired, and former director of the Federal Reserve Board’s Div ision of Bank Supervision and Regulation, and John L. Shupe, chair man and president of Shupe Broth ers Co. of Greeley, Colo. The new directors fill vacancies created by the resignation of A.H. Trautwein, founder and former chairman of Wyoming Bancorporation, and John P. Townley, senior vice president of Texas Commerce Bancshares, Inc. Mr. Trautwein will continue as a consultant to the holding company. Wy banco is presently seeking Federal Reserve Board approval for mergers with American National Bank of Powell and American Na tional Bank of Riverton. Although approval of the merger with the Powell bank was initially denied, the board’s decision is currently under appeal. Opening of a new First W yo ming Bank in Green River is antici pated in June and will expand the af filiate network to 23 banks. • ® ^ ® ^ * £ £ and was subsequently promoted to assistant vice president. Montana Four Elected in Great Falls R. L. Reiquam, pres., M iles C ity J. T. Cadby, exec, v.p., Helena Missoula Appointments Told The board of First Bank Southside Missoula recently announced the following appointments and pro motions: Geogre E. Nygaard has been pro moted to vice president and senior commercial loan officer, second of ficer in the bank and secretary to the board. Carol Richards has been promo ted to operations officer and Kim Gordon to instalment loan officer. Ms. Richards began her banking career with the Missoula bank in 1974 and will be in charge of general bank operations. Ms. Gordon began her banking career in 1976 with First Bank in Bozeman, transferring to Missoula in 1979. Neil S. Bucklew, president of the University of Montana, has been ap pointed to the bank’s board. First Bank Great Falls recently # announced the election of Betty Rowton to customer service officer; Susan Sell to office system manager, and Terri Sandrock and Frances Tenney to assistant operations of- ® ficer. Ms. Rowton was employed by the Internal Revenue Service and the B. ROWTON S. SELL T. SANDROCK F. TENNEY Lewistown Executive Named C. RICHARDS K. GORDON Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis John M. Carlson has been named executive vice president and manag ing officer of Midstate Bank of Mon tana, Lewistown, effective June 2 1 . Joseph J. Friend will continue as chairman and president of Midstate Bank. Mr. Carlson began his banking career in 1978 with First National Bank in Lewistown as a loan officer M o n ta n a N e w s Great Falls Gas Co. prior to joining the bank in 1975. Ms. Sell joined in 1978 as a commercial loan secretary, later managing and implementing the bank’s word processing center. Ms. Sandrock has been employed by the bank since 1978 in the bookkeep ing department. Ms. Tenney first joined the bank in 1972 and has been proof department supervisor since 1973. 61 Board of Directors Dine in Style Elected to Board Robert M. Pancich, president of First Bank West Great Falls, has announced the election of David R. Cornell to the board of direc tors. Mr. Cornell has been admini strator of the Montana D ea coness Medical , ^ ^ , D.R. CORNELL Center in Great Falls since December of 1979. AS HIGHEST bidder in the Livingston Chamber of Commerce Goods and Services Auction, First Bank paid $650 for its board of directors to dine in style in the vault of the First Securi ty Bk. With First Security’s officers as waiters and busboys and a camera crew from KULR television in Billings filming the whole affair, the eight directors enjoyed a seven-course gourmet luncheon. In all the auction raised nearly $8,000 for the Chamber, which was short on funds. Standing above left is: Claude R. Erickson, chrrin.; serving on the right, Bruce A. Erickson, pres., and seated are the eight directors of First Bk., Livingston. Application Approved The Federal Reserve Bank of Min® neapolis recently approved the ap plication by Montana Bancsystem, Inc., Billings, to acquire Montana Bank of Billings. • 9 0 9 9 9 9 1982 MBA Group Officers Group 1: president-John Caven, pres., First Security Bank, Havre; vice pres.William Perrin, pres., Security State Bank, Harlem; secy./treas.-Chris S. Owen, v.p., First National Bank, Cut Bank; nomin. committee-George Waggoner, pres., First Inter state Bank, Cut Bank. Group 2: president-R.P. Thiesen, pres., First State Bank, Forsyth; vice pres.-Robert J. Goss, pres., Richland National Bank, Sidney; secy./treas.-James Carter, v.p., First Na tional Bank, Wibaux; nomin. committee-Albert Martens, v.p., First State Bank, For syth. Group 3A : president-Michael Cann, First National Bank, Libby; vice pres.-Lynn Weaver, v.p., Security State Bank, Poison; secy./ treas.-Alan A. Aronson, v.p., Valley Bank, Kalispell; nomin. committee-Bernard Remick, pres., First National Bank, Libby. Group 3B: president-Ralph G. McCoy, e.v.p., Farmers State Bank, Victor; vice pres.-Dan Simkins, v.p., First Bank Western Montana, Missoula; secy./treas.-W.E. Manley, pres., First State Bank, Thompson Falls; nomin. committee-William L. Bouchee, pres., Montana Bank of South Missoula. Group 4: president-James Heaton, Citizens State Bank, Scobey; vice pres.-Greg Sundwall, First State Bank, Froid; secy./treas.Jim Hines, v.p., First National Bank, Glas gow; nomin. committee-R.C. Loegering, v.p., Traders State Bank, Poplar; alternate-M.E. Veis, pres., Citizens State Bank, Scobey. Group 5A: president-Lawrence Frank, v.p., Northwestern Bank, Lewistown; vice pres.- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Gary Gibson, v.p., First Bank, Helena; secy./ treas.-S.D. Piper, pres., Continental National Bank, Harlowton; nomin. committee-Dick Fossum, v.p., First Bank, Helena; alternateBill Olson, pres., First National Bank, Fairfield. Group 5B: president-William Thorndal, pres., Central Bank, Great Falls; vice pres.Michael Wangen, v.p., First Bank, Great Falls; secy./treas.-Patrick McDermott, v.p., Northwestern National, Great Falls; nomin. committee-Gene Teach, pres., First Inter state Bank, Great Falls; alternate-William Thorndal, pres., Central Bank, Great Falls. Group 6: president-L.D. Jacobson, pres., First Security Bank, Deer Lodge; vice pres.Dick Timmerman, pres., First Bank, Butte; secy./treas.-Clint Rouse, v.p., State Bank & Trust Co., Dillon; nomin. committee-Bob Mountain, pres., First Northwestern, Dillon. Group 7A: president-Wayne Gibson, v.p., First Security, Bozeman; vice pres.-Donald Powell, pres., First Security, Big Timber; secy./treas.-Daniel Krum, v.p., Farmers State Bank, Worden; nomin. committee-Joel Harris, pres., Yellowstone Bank, Laurel; alternate-Dean Nelson, pres., First Security Bank, West Yellowstone. Group 7B: president-James Scott, pres., Pioneer Bank, Billings; vice pres.-Al Winegardner, chmn., First Northwestern Na tional, Billings; secy./treas.-George Balback, pres., Western Bank, Billings; nomin. committee-Jim Heaton, Citizens State Bank, Scobey. Security Bank, Billings Staff Changes Announced Security Bank, N.A., Billings, has announced several staff changes and the formation of a new division. Robert P. Gibbs has joined the bank as vice president of the energy divi sion. He previously was vice presi dent with Continental Illinois Na tional Bank and Trust Company of Chicago. Jerry Magnuson, data processing officer, has been promoted to assis tant vice president. He started with the bank in 1981. Gary Johnson, vice president of operations, has been named cashier. He began as a computer operator with Security Bank in 1968. William Price, agri cultural loan representative has been promoted to officer status. The Corporate Services Division, a newly formed division of the bank, will handle the sales of all non-credit corporate services. It will be man aged by Thomas Cover, vice presi dent at the bank. Promoted in Plentywood Security State Bank, Plentywood, has announced a chain of promo tions due to the resignation of Alan Dale, vice president, after 1 1 years with the bank. Mr. Dale resigned to take a position in Denver. Dallas Johnson has been promo ted to vice president; Robert “ Buzz” Romstad to assistant vice president; Cindy Zieske to instalment loan of ficer; Kathy Overland to auditor, and Janice Blair to personal banking officer. Northwestern Banker, July, 1982 Donald H. Echtermeyer Senior Vice President Correspondent Banking Div Central Bank of Denver. ■ ffi "See this button? What it says sets us apart from all those other banks. It has nothing to do with our looks. Or our clothes. It shows up in the way we do our jobs. The extra care and attention we give you and your needs. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis "It's our com mitment to serve you better that shows up in countless little ways. Whether we're making loans to $ buy banks. Or participating with you on loans to your customers. Or helping to manage your liquidity through federal fund transactions or check _ collection. Or sharing our expertise on 9 things like ATM s and VISA® Or a variety of services, such as EEO plans for human resources. Or municipal leasing. "If you're a bank not currently working with us, we invite you to call. You'll discover, like our hundreds of other banking friends, that we have a genuine interest in correspondent banking. "And you'll find out that better banking is a lot more than just a slogan on a button" C entral B ank of Denver H ie Better Bankers.* 1515 Arapahoe S tre e t/ P.O. Box 5548T.A. Denver, Colorado 80292 / (303) 893-3456 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The Better Bankers is a service mark of Central Bank of Denver. FDKI 64 1982-83 Officers of the Colorado Bankers Association are, from left: Chmn.—W.W. Peter Grant, pres., Colorado Natl., Denver; Pres.—Allen R. Koeneke, chmn. & pres., 1st Natl. Ri fle; Vice Pres.— Norman M. Dean, chmn. & pres., United Bank of Greeley, and Exec. Mgr.— Don A. Childears, Denver. Allen Koeneke Named Colorado President By BEN HALLER, JR. Editor and Publisher ££ EEP in mind that all this about the bad economy can be depressing. It is not so far actually from where we are to where we want to be. More people are employed at this time than ever before.” These were the opening re marks to the Colorado Bankers A s sociation’s first business session during the 81st annual convention at the Broadmoor Hotel in Colorado Springs, made by A B A President Lew Jenkins, vice chairman of Man ufacturers Hanover Trust Co., New York. Mr. Jenkins agreed that “ the Fed has done what it should do. I say, leave them alone.” Mr. Jenkins re viewed again in detail the activities and hearings in which A B A has been involved in the crisis surroun ding the national budget hearings and legislative hearings on deregula tion. He stressed, as others have done, that too many people do not understand—or refuse to under stand—that social programs are not being cut, but the amount of their in crease is being cut. Mr. Jenkins also emphasized again the need for all bankers to make their feelings known to Congress and the regula tors that if they do not get authority soon for new products with which to compete, that banking will lose a complete generation of young people to non-depository unregulated com petitors. I X chatter Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CBA President W.W. Peter Grant, president of the Colorado National Bank, Denver, in his annual report cited the fact that the CBA’s 28 com mittees had been pared in the past year to just 16 committees and are geared to matching that committee work with exact needs of banking and the association today. This in cludes a new long range planning committee, headed by Kent Olin, First National Bank, Colorado Springs. Allen R. Koeneke, chairman and president of First National Bank, Rifle, was advanced to be president of the CBA, succeeding Mr. Grant. The new vice president is Norman Dean, chairman and president, United Bank of Greeley. Reece A. Overcash, Jr., chairman and chief executive officer of The Associates Corporation of America, Dallas, said his company and th ose^ like Sears, Merrill Lynch, American Express, ATT, Reuters and I B M all of them non-depository institu tions—are rushing into the financial services field because “ The financial^ services industry, even with its pro gress, growth and service to the public, still is essentially an under developed frontier... perhaps one of the last major frontiers yet to be fu l-0 ly developed by the business sector.” Noon luncheon speaker Howard K. Smith, television commentator and reporter, said “ President Rea gan has great support, but there i s # increasing doubt about his ability to manage the job. For a long time he has had tremendous ‘luck,’ with re vitalizing defense, for example, but six months later labor and the p o o r# felt he wasn’t getting the job done and they would suffer, then business dropped, followed by David Stock man’s damaging statements, and now the budget problem.” # At the final morning session, economist David M. Jones, vice president and economist for Aubrey G. Lanston & Co., Inc., New Y ork ,^ said the Fed’s tight money grow th ^ range of 5% is tough “ but is needed to definitely break inflation. The next six months could be the worst since the recession started because^ the Fed will hang in there. If you’r e ^ going to kill inflation psychology then you must be twice as tough for twice as long as necessary. So, don’t expect any relief until we get in to ^ next year. The Fed is not totally in sensitive to the needs of the world. When the money supply does come down, as in the past quarter, the Fed eases.” q Dr. Jones pointed to the real pro blem being with the market pushing up against huge budgets. “ When U.S. Sen. Wm. Armstrong (R., Colo.) and Elliot Lee Richardson, former U.S. cabinet member and now a Washington, D.C. attorney, both addressed the closing session. 65 inbanking are P.O. Box 5808 Denver, Colorado 80217 303 620-5491 Member FDIC Member First National Bancorporation https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 66 C olorad o N ew s LEFT— Bob McRae, sr. v.p., 1st Natl., Denver, and his wife, Sandra; Jac,x v . K ., c , u .xa.c c a ^ c . y , a . v . M., uum wim .si incui., umcago, and John Hurst, v.p., Bank of America, San Francisco. RIGHT—Joe Phernetton, sr. v.p.; Larry Eilers, v.p., and Pete Faletti, exec. v.p. & chief fin. off., all with 1st Natl, of Denver, with Maureen Harty, wife of Mr. Faletti and cash mgmt. mgr. at Colorado Natl., Denver. LEFT— HOSTS for the Central Bank of Denver annual breakfast were, from left: Bill Tumelty, v.p.; Jim Fallon, a.v.p.; Jim Osbourn, exec, v.p.; Don Echtermeyer, sr. v.p., and head of corr. bkg. div., and Don Hoffman, chmn. & c.e.o. RIGHT—Jim Allen and Dan Boehle, both v.p.s at Omaha Natl., Omaha, Nebr.; Linda Boehle; E.K. Yanney (far right), pres., 1st State Bank, Lodgepole, Nebr.; his daughter, Michele next to him, and in front, his grandaughter, Wendy Kemling from Sterling, Colo. # you look at Reaganomics it has four parts and each looks good, but to gether they fall apart.” He feels the tax cuts should have been preceded by budget cuts, and that the defense budget should be held down. “ He got bad advice from Arthur Laffer” on tax cuts, Dr. Jones emphasized. “ It would be bet ter if the tax cuts came in 1985-86. Now the big deficits have the gov ernment driving everyone else out of the markets. I‘m not saying we’ll have a depression, but pain in the next six months will be greater than anyone thought it would be—world wide.” He feels that if tax cuts had been pushed forward three years, then business people who are now going out of business could have benefitted. “ This is a capital goods recession,” he pointed out, “ not an inventory recession.” After painting all the gloom, Dr. Jones concluded with two “ good news” points: “ There are two bets. The legacy of the Reagan Admini stration will be disinflation. Also, by the 1984 elections, we will have laid the best foundation for the greatest Ncrthwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis economic recovery. Those same firms will be able to pay off their debt and high interest rates. After recov ery, loans will drop and so will in terest rates. Business will develop enough profits to pay off debt and use those profits to rebuild.” U.S. Senator William Armstrong (R. Colo.) took a more optimistic tack, stating “ There is nothing fun damentally wrong with the econ omy, but some wrong medicines have been administered. The econony has slowed down and is sicken ing from the wrong medicine admin istered over a long period of time.” He pointed to the past two decades of Congressional and administrative spending as the root problems of to day’s unsettled economy. Sen. Armstrong feels there is nothing basically wrong with the economy that it can’t be turned around in short order—especially if interest rates can be turned down to unleash business spending and pro ductivity. However, he pointed out there is really no easy way out. “ It’s like losing weight,” he said, “ you must diet and hurt a little to get back to where you should be.” As positive signs, he pointed to the drop in inflation, currently estima ted at 1 -2 %, he said. Interest rates^ are still high at 16%, he noted, butW are far less than the 2 2 % of a few months ago. He advocates the tax program and new business guide lines, including lowered tax ceilings,0 depreciation and capital gains im provements. He doesn’t think the tax cut should have been delayed; if anything, he would prefer that it had been earlier and in one big b ite # to give the economy a real jolt. Elliott Lee Richardson, noted at torney from Washington, D.C., and the man who has probably held more Cabinet positions than any oth er# person in the nation’s history, also was on the final morning program. He gave a scholarly, interesting view of the Law of the Sea confer ences, to which he is the U nited# States’ Ambassador-at Large. The three-year discussions of this world wide group, taking into consid eration everything on and under the waters of the world, who shall h a v e^ the lawful rule over them, when na- C o lo rad o N ew s tions shall have sovereign rights, and when the rights of the rest of the world shall prevail, can well be set ting the groundwork for agreement among nations on other critical mat ters, he feels. The beautiful Broadmoor grounds laid a backdrop for an excellent round of sports and social activities throughout the convention—from the famous Broadmoor champion ship golf courses and numerous ten 67 nis courts, to the newer facilities which afforded an opportunity for varying tastes in convention dining and entertainment. The 1983 convention will be held at The Broadmoor June 2-4. □ LEFT— Richard A. Kirk, pres., & chmn.. United Bank of Denver and chmn. of ABA mktg. comm., with Doris and Lew Jenkins, pres, of ABA and vice chmn. of Manufacturers Hanover Trust Company, New York. RIGHT— Bruce M. Rockwell, chmn. Colorado Natl., Denver, with Madeline and Charles M. DeBelle, after Mr. DeBelle received his plaque as a 50-year Colorado banker. LEFT—Tom Courson, sr. v.p., United Bank of Lakewood; Ivan Taylor, pres., United Bank of S.W. Plaza, Middleton, and his wife, Jean; Darcy Myers (rear), a.v.p., Don Robottham (rear), exec, v.p., and Jan Campbell, a.v.p., all with United Bank of Denver, and at far right, Marie Robotham. RIGHT— Dick Muir, v.p., United Missouri Bank of Kansas City, and his wife, Beverly, with Marilynne and Bill Gossett, pres., United States Bank of Grand ju n ctio n. LEFT— Dave Fowler, v.p., Colorado Natl., Denver, and Nancy Fowler; Ingrid and Jack Boggess, pres., Park Natl., Pueblo. RIGHT— Roger Knight, III, chmn. & pres., Metro Natl., Denver; Donna Targonski, a.v.p., Irving Trust Co., New York; Barbara Knight, and Ted Brown, chmn., 1st Natl., Denver. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 68 C olorad o N ew s been president of a merger and ac quisition firm after 18 years of bank ing experience in Detroit. Promoted to the position of assis tant vice president-director of retail planning and development was Kim berly A. Willard. She joined the bank in January of this year and was previously with Gunstream Indus tries as director of marketing plan ning and Combanks Corporation as vice president of marketing. V.P. Named in Greeley University National Bank to Build of a five-story, tomer service, relocation of two auto square foot office build mated teller machines, three times ing has been jointly announced by the existing safe deposit space, a Charles L. Ferguson, chairman and larger vault and additional commer president of University National cial drive-up services. Bank and George M. Mullin, presi According to Mr. Ferguson, all dent of University Hills Inc. commercial and real estate loan ser Construction of the new building, vices, trust services and administra located on the northeast corner of tive offices will be located in the new East Yale Avenue and South Colo building. Retail services will remain rado Boulevard, immediately west in the existing facility, which will be of the existing University National expanded some 5,000 square feet and Bank Building, is scheduled for com modernized to blend with the exter pletion in mid-1983. ior appearance of the new structure. The project is a joint venture be Office space will be available for lease tween the bank and University Hills, on the upper floors. An overhead Inc., owner of the University Hills walkway and underground tunnel Shopping Center. University Nation will connect the new building to the al, the principal tenant, will more existing building. Plans also call for than double its space by leasing the modernization of the existing twobottom two floors and lower level. story building and more than doubl Combined with the existing Bank ing customer parking spaces. The in building, the new facility permits ex terior will feature an open stairway panded retail and commercial cus within a skylit, two-story atrium. C o n s t r u c t io n 100,000 Central Bank of Denver Staff Promotions Told The board of directors of Central Bank of Denver recently promoted six employees and elected eight others to positions as officers. Promoted to senior vice president, general counsel and secretary was John E. Bush; to vice president and controller, John R. Tavernier; Lloyd R. Hendrickson to vice president, and to assistant vice president were Scott Brennan, Jerry L. Helmke and Kimberly Willard. The bank’s new officers are Gary Bostwick, Colleen A. Carwin, Marcia E. Haavind, Mi chael McCall, David Purvis, Gwen dolyn D. Reker, Donna Scarpella and La Vaughn Schmidt. Mr. Bush joined Central in 1975 as general counsel. In 1981 the title of secretary was added to his pre Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis vious title of vice president and general counsel. Mr. Tavernier has worked in the control division as well as the cor porate trust department since join ing Central in 1977. He was previ ously with Peat, Marwick and Mitch ell as a certified public accountant. Mr. Hendrickson, who joined the bank last month, was promoted to vice president and is regional bank ing unit head in the commercial banking department. Mr. Brennan, who joined the bank in 1980, was promoted in the retire ment planning center. He formerly was with Lincoln National Life In surance Co. in Fort Wayne, Indiana. Promoted in the commercial banking department was Jerry Helmke who joined Central in Feb ruary of this year. Mr. Helmke had R.T. Hinman, president of Cache National Bank of Greeley, recently announced the promotion of Phillip L. Myers from assistant vice presi dent to vice president, commercial loans. Mr. Myers began his banking ca reer in 1973 and has been at Cache National since 1981. Gothenburg Changes Told R.E. (Bob) Andrist, formerly branch manager of First Federal Savings and Loan of Dawson Coun ty, recently joined the staff of First State Bank, Gothenburg, as instal ment loan officer. Also at the bank, Earl VanSteenberg resigned from the board. He has plans to live in Pharr, Texas. Morrill Employe Honored On M ay 12, directors and employes of the First National Bank of Morrill gathered at the Scotts Bluff Country Club to host a sur prise dinner in honor of Gloria M. Lind, vice president, who has served the bank 25 years. An open house was also held at the bank the follow ing week in her honor. Controller Appointment Told Sandy Mahon has been appointed controller of East Bank of Colorado Springs, according to Thomas P. O ’Rourke, president. She will be re sponsible for internal accounting, auditing and personnel for the bank. Ms. Mahon joined the bank in 1981 as an accounting and personnel representative. Officer Promotion Told Cameron A. Winchester recently was promoted to the position of as sistant operations officer of Central Bank of Colorado Springs. Mr. Win chester joined the bank in 1980 as a management trainee. C olorad o N ew s • Three Named in Boulder First National Bank in Boulder has announced the appointments of Craig E. Tribolet as vice president ® and trust depart ment manager, and John H. Lay man as assistant vice president ® and trust officer. Mary F. Clough has also joined First National C.E. TRIBOLET Bank in Boulder ® as manager of bookkeeping opera tions. J.H. LAYMAN M.F. CLOUGH • Prior to joining First National, Mr. Tribolet worked at the First Na tional Bank of Colorado Springs for twelve years, where he served as vice president and trust officer. ® Mr. Layman previously worked for First National Bank of Long mont as senior trust officer. Ms. Clough came to First Nation al Bank in Boulder from Greeley Na® tional Bank where she was customer service supervisor and an advantage banking officer. From 1975-1979 Ms. Clough worked for Iowa-Des ^ Moines National Bank, Iowa. New Bank to Organize 0 # # • Colorado National Bankshares, Inc., has announced that the Comptroller of the Currency has given the preliminary approval to organize a de novo bank, Colorado National Bank - Southwest. The bank will be located at Southwest Plaza. In making the announcement, Will F. Nicholson, Jr., president of Colorado National Bankshares, Inc., also advised that permission must be received for the bank to be included in Colorado National Bankshares, Inc., and that application has been made to the Federal Reserve Bank of Kansas City for that formation. Approval is expected sometime in the early fall and it is expected that the bank will open in the first quar- https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ter of 1982 at the same time a grand opening of the entire shopping cen ter is scheduled. Drive-Up Facility Opens The Palisades National Bank, Pal isade, recently opened its new “ A p ple Orchard” drive-up. It is a full service detached facility with four lanes, walk in lobby, night depos itory and space for a drive-up ATM. The 1,000 square foot building is located on two acres of producing apple trees. Two Elections Announced William L. Crumb has been elec ted vice president and cashier and Robert G. Sinton has been elected assistant vice president in charge of retail loans at Central Bank of In verness, N.A., Denver. Mr. Crumb has been with Central Bank of Denver, an affiliate of Cen tral Bancorporation, since 1974, serving most recently as operations officer and manager of the collec tions department. Mr. Sinton was employed by Cen tral Bank of Denver in 1979, most recently as assistant manager of the credit department. University Natl. Names Two Susan Lohmar and Debbie Carlyle have been promoted to operations of ficers at University National Bank, Denver. As operations officer-bookkeeping manager, Ms. Lohmar will be man aging the bookkeeping department. She previously was assistant man ager of Bank II, having joined the bank in 1980. Debbie Carlyle has been named op erations officer-Bank II manager, re sponsible for management of the Bank II remote facility. Associated with University National for three years, she most recently was assis tant manager of the teller depart ment. Denver Promotions Told A t First N ational Bank of Denver, Robert S. McRae, senior vice president, corporate banking, has been named manager of the bank’s financial institutions and agricultural lending group. He suc ceeds Joe Sylvan, who left the bank to become vice chairman of InterFirst Bank of Victoria, Tex. 69 Mr. McRae, previously the bank’s senior credit officer and head of portfolio control, joined the bank in 1967. He was appointed a commer cial loan officer in 1970 and named vice president in 1980. Dale M. Miller, Paul W. Griffith, Michael Iida, Jacob T. Puzio and Wesley Howard Sargent have been promoted to vice president status. Mr. Miller, who will be serving in individual financial services, joined the bank from Majestic Savings and Loan Association. Mr. Griffith joined the bank as vice president in the bank services department in April, 1982. He came to the bank from West America Mortgage in Englewood, where he was senior vice president of finance and administration. Mr. Iida, who will be serving in marketing, was with Wells Fargo Bank in San Francisco, prior to join ing the Denver bank in 1980. Mr. Puzio, commercial services division, joined in April, 1981, as assistant vice president, having served eight years at Boulder Na tional Bank. Named to vice president in mar keting, Mr. Sargent recently joined the bank from Greeley, where he was vice president and marketing direc tor at the First National Bank of Greeley. M ASTERCARD II... (Continued from page 20) nancial analysis of costs and income to show the profitability of MCII to an individual bank. In the example he used, based on 2,000 issued ac counts and 1,400 average active ac counts for a $30-$50 million bank, all of the transactions, fees, process ing costs and income net out to a bottom line pre-tax profit of 28% on “ a conservative financial reporting basis—about $9.00 per account,” he concluded. Each of the three speakers teamed with Art Gibietis from the MasterCard regional office in St. Louis for a panel discussion, moderated by Wil liam E. Clark, BCS vice president for agent and merchant relations. Each registrant for the seminar received a working kit containing details of the MCII plan, results of the national survey, and an exten sive list of questions and answers concerning the new debit card. □ Northwestern Banker, July, 1982 70 “We process over 5 million Instant Cash transactions a year. ’’ Steve Navin U.S. National/ Electronic Banking When your custom ers want a debit card they can depend on, you can depend on U S . Instant Cash is a rising star in the electronic funds transfer industry. And the U.S. National Bank is committed to making this big service even bigger in the future. As a part of the Banco Electronic Banking Network, the U.S. National Instant Cash system has the equipment, the people, and a history of success. Electronic Banking. When your customers want it, you can depend on us. ON U.S. For more information, call Steve Navin. 402/536-2328 Main Bank 20th & Farnam Regency Office Central Park Plaza Office Member FDIC Affiliate of Northwest Bancorporation Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis US National Bank of Omaha 71 ÆÊHÊÊÊ Nebraska H.P. S tu c k e y , pres., L e xin g to n S. M atzke, J r., exec. v.p., L in co ln NBA Selects Stan Matzke to Head Staff TAN Matzke, Jr., of Lincoln, S has been appointed executive vice president of the Nebraska Bankers Association. The announce ment was made by NBA President Harold P. Stuckey, president, Lex• in gton State Bank and Trust Co. Mr. Matzke replaces Roger M. Bev erage, who resigned last month to enter private business in Bertrand, Nebraska. As executive vice presi•dent, Mr. Matzke will head the or ganization’s professional staff and direct its daily operations. Mr. Matzke, 48, is currently assis tant to the president of Southeast ^Community College in Lincoln. He will begin full-time duties with the bankers association in July. Prior to joining Southeast Community Col l e g e in 1978, he was director of the ^Department of Administrative Ser vices for the state for five years. He has also served as director of the Nebraska Department of Economic ^Development, assistant director of resident instruction for the Univer sity of Nebraska-Lincoln College of Agriculture, superintendent of the University of Nebraska School of ^Technical Agriculture in Curtis and instructor and department head at the Milford vocational technical school. He was graduated from the University of Nebraska, Lincoln, in 01955 with a bachelor of science de gree in agriculture and in 1965 with a master’s degree in educational psychology. Hastings, according to Norman Nackerud, president. Ms. Frerichs joined the bank in 1964 in the bookkeeping and opera tions areas, serving most recently as assistant manager in the mortgage loan department. Kearney Addition Told — Seminar Draws Big Response Stewart K. Jobes has joined the Kearney State Bank and Trust Com pany as a loan officer, according to Larry Wangrud, president. Mr. Jobes has served as assis tant manager at F irst S avin gs Company of Has tings and has also held posi tions at Com m u n ity S tate S.K. JOBES Bank of Whiting, Receive 50-Year Awards Promoted in Hastings Sandra Frerichs has been pro moted to assistant vice president • and manager of the mortgage loan department of First National Bank, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Executive V.P. Named Jack Sorensen, vice president of the Dakota County State Bank, South Sioux City, has been elected executive vicep resid en t and promoted to the bank’s board of directors. Mr. Sorensen succeeds Bernie Moore, who will stay on as an of ficer in an ad visory capacity u n til A u g u s t 1st. Mr. Moore is resigning to join the staff of Piper, Jaffray and Hopwood, Inc., a stock and bond broker age firm in Sioux City. Mr. Sorensen became associated with the Dakota County State Bank in June of 1979. He came to South Sioux City from Columbus, Ohio, after working for A vco Financial Services for 26 years. Officer Named in Hastings ^ N e w Charter Approved Northwest National Bank, Grand Island, has received approval from the Comptroller of the Currency for a new charter located at 2008 N. • W eb b Road, Grand Island. Iowa, and First National Bank of Lin coln. Kearney State Bank recently hosted a free Customer Relations Seminar held May 25 at the bank. The seminar drew some 450 people to four one-hour training sessions of fered throughout the day. John Allen, a nationally recognized public relations consultant, held the crowd’s attention with his humor ous fast moving method of presenta tion. Due to the large response and interest, the bank is considering of fering other additional programs as soon as Mr. Allen can be resche duled. RECEIVING 50 year club awards at the Nebraska Bankers Association annual con vention in Omaha were left to right: Edward Eisenhart, Culbertson Bank and Minnie Asche, 1st Natl., Columbus. Not pictured but also receiving 50 year awards were: Mel vin H. Adams, Sr., Bank of Brule, Clark Weckbach, 1st Natl, of Ord and Edward M. Knight, Alliance Natl. Bk. & Tr. Joan Brannagan has been elected assistant bank operations officer at C ity N ational M o to r B ank West, Hastings, announced O.J. McDougal, pres ident. Mr. Branna gan has been with City Na tional Bank & T ru st for 13 J. BRANNAGAN years, most re cently as assistant manager of Motor Bank West. Northwestern Banker, July, 1982 72 United States National Bank of Omaha recently announced the pro motion of Ronald E. Schneider and Paul D. Kadavy to senior vice presi dent and Thomas L. Patton to se cond vice president. R. SCHNEIDER P.D. KADAVY T.L. PATTON M.B. ANDERSEN Marian Battey Andersen, wife of Harold W. Andersen, president and publisher of the Omaha World-Her ald, was elected to the board. Mr. Schneider joined the bank in 1974 as a commercial banking of ficer. In 1977 he was elected vice president, was named manager of the commercial banking department in 1980 and was promoted to man ager of the corporate banking div ision in March, 1982. Mr. Kadavy joined in 1969 as a management trainee and was elec ted trust officer in 1971. In 1975 he was named vice president and held that position when First North western Trust Company was formed in 1977. In 1978 he was elected ex ecutive vice president. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mr. Patton started with the bank in 1972 as a commercial instalment loan officer. In 1980 he was named manager of the commercial instal ment department. * * * announced the appointment of< Donald R. Larson as regional marketing representative. Mr. Larson, a veteran Nebras ka banker, will work from the bank’s Lincoln office. His most recent position was vice presi dent in the com mercial loan di vision of a Lin D.R. LARSON coln Bank, with primary responsibility in public relad tions, corporate relations, new busi ness development, marketing and promotion events. Jack B abcock Retires Thomas C. Prohaska has been ap pointed account administration off icer for corpor ate trust and em ploye benefits of F ir s t N orth w estern Trust Company of Ne braska, a ccor ding to H. David Neely, president and chief execu tive officer. T. C. PROHASKA Mr. Prohaska joins the Trust Company following five years in private practice with the law firm of Reedy and Prohaska of Omaha. * * * HEN Jack Babcock took a summer job in 1939 as a messenger at the old Livestock Na-^ tional Bank in Omaha he looked atw banking as a short-term commit ment. Mr. Bab cock, then 19, had le ft his h o m e to w n o f Scottsbluff and had attended the U n iv e rs ity o f Omaha for two semesters while living with his aunt and uncle. “ I had always J- BABC0CK preferred outdoor work, but there# was this temporary job at the bank as a messenger. My uncle (Henry Karpf, who later became president of Livestock National) said that if his son and I would each earn $ 100,0 he would let us use his car for a trip at the end of the summer.” That fall, the bank had some full time openings, and Mr. Babcock de cided to stay on. “ I still looked at it # as a short-term job, but it has devel oped into a lot of years.” Forty-three years to be exact. Jack Babcock retired July 2 as vice president and a senior correspon-# dent loan officer at Omaha National Bank. “ Jack is ‘ Mr. Correspondent Banking’ at Omaha National,’ ’said John Martin, vice president in # charge of the financial institutions and regional lending department. “ I don’t think Jack has ever met The executive committee of the First National Bank of Omaha has BABCOCK RETIRES... (Turn to page 94, please) Douglas County Bank & Trust Company recently announced the a d d itio n of Richard E. Kuhns as a com mercial loan of ficer. M r. K u h n s previously was employed for 28 years by the U nited States National Bank of Omaha where he was vice president of commercial banking. He is a member of the American Institute of Banking and the Robert Morris Associates. * * * W • Jim Flodine, Fred Kuehl, Don Ostrand, Ralph Peterson, Charles Leffler. Trust your correspondent 'banking to our efficiency experts. # # These superb profescash letter processing, sionals are dedicated overlines, fed fund to meeting all your M ■ m transactions; or any individual corres- E l l other correspondent pondent needs. Call m l # service. We’ll show us for details on elec- ^ ^ 1 ^ # you how friendly effitronic data processing, ciency can be. # https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis first n a tio n a l b a n k of omaha In Nebraska call us toll free at 800-642-9907. Outside Nebraska call us toll free at 800-228-9533. Member FDIC. 74 been named head of that depart-# ment, succeeding Mr. Baack. Rod Steinacher, vice president in consu mer lending, has been appointed head of the consumer lending de partment. # Mr. Baack has been with the b an k fo r 33 years, most re cently as head of the correspon dent divisions since 1971. Dur ing his long car eer at NBC, he has been in volved in virW. BAACK IRECTORS of National Bank o f Com m erce unanim ously elected Thomas D. Potter to the post of president and chief executive officer. Mr. Potter was senior executive vice president of the bank. He was elected to the board of directors in 1981. Mr. Potter succeeds James F. Nissen, who resigned to accept a position with a regional banking firm. D and served as assistant to the presi dent. Mr. Potter is well known in bank ing circles and in the Lincoln com munity. He is on the executive coun cil for the Nebraska Bankers A sso ciation. Born in Nebraska, Mr. Potter graduated from Nebraska Wesleyan University. He has a masters degree from Johns Hopkins University and a Masters in Business Adminstration from Wharton School at the University of Pennsylvania. Prior to joining NBC he served six years in public international finance with the U.S. State Department and the Afri can Development Bank overseas in Latin America and Africa. Mr. Nissen will run Nebraska Management, Inc., Lincoln, which is owned by Lincoln businessmen Gene Tallman and Paul Schorr. Both are former NBC directors who T. J. POTTER J.F. NISSEN purchased First National Bank and As new president, Mr. Potter First State Bank of Fremont from states that there will be continuity the NBC Group. They also own Lin in senior management. No major coln Bank East and First Westroads changes need take place. Bank of Omaha, and presently are “ Current management policies acquiring Citizens State Bank in developed by the executive manage Lincoln. ment group over the past four years Mr. Nissen was graduated from under Jim Nissen’s leadership have the University of Nebraska in Lin led the bank to a position of preemi coln in 1954 and went to work im nent performance compared to its mediately for National Bank of peer banks across the nation,” he Commerce. After working in many said. “ There is no reason to change areas of the bank he was elected ex these policies. NBC’s officers and ecutive vice president in charge of staff will continue to be the back assets and liability management, bone of the organization.” the position he held when he was The executive management group elected president in 1977. is comprised of Mr. Potter and the Mr. Potter also announced that four executive vice presidents— three veteran NBC officers have Dana Henricksen, Robert Hans, been promoted. Senior Vice Presi Loren Anderson and Wilbur Baack. dent Wilbur Baack is the new head With NBC since 1975, Mr. Potter of the lending group. Max Callen, has headed the international depart who has been vice president in the ment, the commercial loan division correspondent bank division, has Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M. CALLEN R. STEINACHER tually every aspect of lending at th e 1 bank. Until his present appoint ment, he has managed the largest single loan portfolio at NBC. With this new appointment, Mr. Baack has been promoted to executive vice president. Mr. Callen has been in the corre spondent division since 1979. Prior to that, he served in the commercial loan division for three years and prior to that was in the computer division. He joined the bank in 1974. Mr. Steinacher, vice president, joined the bank in 1971. He served as an instalment loan officer from 1971 to 1973 at which time he be came a part of the commercial loan division. In 1979 he was named manager of the personal banking de- , partment, a capacity he has held since that time. Wells Fargo Opens Office in Denver ^ Wells Fargo Corporate Services has formally opened its regional of fice in Denver to provide a full range of commercial credit services to re- ® gional, mid-sized and multinational companies in an eight-state area. Jonathan Treat, a vice president, heads the new operation. The office is located at 4949 So. Syracuse St. in ® Denver. 75 Specialists in fulfilling your every correspondent need... GARY L. BIECK Vice President & Manager Correspondent Bank Division MARK HAHN Correspondent Bank Officer STEVEN L. ANDERSON Vice President KATHY M. VOTAW Correspondent Bank Officer MARVIN HEFTI Correspondent Bank Officer GARY L. HODDE Correspondent Bank Officer CHARLES R. ELLIS Correspondent Bank Officer ÉË CURT DENKER Correspondent Bank Officer IllllHiVIIIIIII FIRST NATIONAL LINCOLN 13th & M Sts. • P.O. Box 81008 • Lincoln, NE 68501 Phone: (800) 742-7462 Member, F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 76 Faster availability ca n im prove your profit picture. Item availability can have a significant impact on your bot tom line. So, it's important to choose a correspondent bank with state-of-the-art d ata proc essing services. That's why so m any Iowa bankers rely on Bankers Trust for fast, efficient d a ta processing. We have the resources — both technology and people — to provide rapid availability of funds and data. We would wel- come the opportunity to handle all of your EDP and cash letter activities. For complete information on Bankers Trust EDP services, call our Correspondent Banking De partment, 800-362-1688 (toll-free from anywhere in Iowa). Bankers Come Crow W ith Us Des Moines, Iowa 50304 Member: FDIC/ Federal Reserve System Iowa’s largest locally owned, Independent bank Use our toll-free WATS line: 800-362-1688 Banker, July, 1982 Northwestern https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 77 R. Lawrence Kilgore Dies Funeral services were held June 1 for R. Lawrence Kilgore, 75, retired ►president of the National Bank of Waterloo. Mr. Kilgore died May 27. He began his banking career June 11, 1933 as I a teller during the organization and opening of National Bank of Waterloo, con^tinuing with the bank until his re tirement in May, R.L. KILGORE 1976. During the intervening 44 years he served as * assistant cashier, assistant vice president, cashier and senior vice president before being elected presi dent in January, 1963, the position he held until his retirement. 9 During that 44-year period, he saw the bank grow to become a $130 million institution, and a leader in correspondent banking service in its ..area in northeastern Iowa. Mr. Kilgore is survived by his wife, Lois, and two daughters. Two W aterloo Men Purchase Evansdale Bank Richard K. Hansen and Garry W. Bixby of Waterloo have purchased controlling interest in Evansdale State Bank from Dale B. Smith, Gene Smith and Earl E. Smith, all of whom have resigned from the E v ansdale board. Mr. Hansen has been elected chairman and president of Evans dale State, succeeding Dale Smith. Mr. Bixby has been elected exec utive vice president and director, Iowa Trust Association Elects 1982-83 Officers Richard Kautz, outgoing presi dent of the Iowa Trust Association and senior vice president of Daven port Bank and Trust Company, Davenport, has announced the elec tion of the following officers for the 1982-1983 year: Jack R. Schreiber, president; Vin cent L. Maurer, vice president, and Willis O. Cairo, secretarytreasurer. Mr. Schreiber is vice president and senior trust officer of United Central Bank of D es M o in e s , J.R. SCHREIBER N.A.; Mr. Maurer is senior vice president and senior trust officer of First National Bank, Iowa City, and Mr. Cairo is senior trust officer of United Central Bank of Des Moines, N.A. Iowa Young Bankers Elect Officers Sioux City Banker 9 Chosen for Award May Kay Lagan, commercial loan officer of The Security National Bank of Sioux City, was recently • chosen to receive the “ Advocate for Women in Business” Award for the state of Iowa. Advocate awards are p re se n te d an nually by the • U.S. Small Bus iness A d m in i stration to in d ivid u als who have done an • outstanding job in su p p o rtin g I th e ca u se o f i small business. M.K. LAGAN The o ffic ia l • award presentation was made on Monday, May 10, by Sioux City’s https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mayor Ken Lawson, preceding the City Council meeting. Ms. Lagan, elected commercial loan officer in 1978, was one of the organizers and promoters of Securi ty ’s Financial Seminar, which is geared primarily toward women. Of fered since 1978, over 700 women annually attend this event. She has traveled many miles to speak to groups of women who are thinking of starting their own business, has been a speaker for various local womens groups and is a member of many womens organizations. succeeding Gene Riley, who has resigned. All other staff members continue in their present positions. Mr. Hansen formerly was vice president-lending at Peoples Bank and Trust Company, Waterloo, and Mr. Bixby was assistant vice pres ident-operations with the same bank. Gene Smith is executive vice pres ident and Dale B. Smith is vice president, both at Sloan State Bank. Dale Smith and Earl Smith also are directors at Palo Savings Bank. PICTURED left to right are the 1982-83 officers for the Iowa Young Bankers Association (formerly Junior Bankers), as elected at the Future Bank Leadership Conference held May 13-14 at the Amana Colonies: Secretary Charles Schrup III, v.p., American Tr. & Sav., Du buque; Kent Stickler, speaker, Financial Shares, Chicago, III.; Past Pres. David Pike, v.p., Hawkeye Capitol Bk. & Tr., Des Moines; President Gerald Burke, v.p., Farmers & Merchants Sav. Bk., Manchester, and Vice Pres. Kirk Warnke, oper. off., Dickinson Cty. Sav. Bk., Milford. Northwestern Banker, July, 1982 78 Io w a N ew s F.W. HAGEMANN Pres. J. UPTON Vice Pres. D.W. HEINEKING Treas. R.W. BERGLUND Exec. V.P. •Invocation •Keynote Address— President Hagemann. £ •Report of the Executive Vice President & Legal Counsel— Richard W. Berglund. •“ What Next for the Economy and What Future for Independent Bankers?” —Malcolm Forbes, Jr., president and chief operating officer# of Forbes Inc., and senior editor of FORBES Magazine, New York. •Question/Answer Session. •“ Dealing With Regulatory Problems” —Mary E. Curtin, attorney at law, Lakin, Hoffman, D a-# ly & Lindgren, Ltd., Minneapolis, Minn. MB Heads for Lake Okoboji A NOTHER record crowd of more than 500 persons is expected to attend the annual convention of the Iowa Independent Bankers at Lake Okoboji July 22-24. The New Inn will again be headquarters. IIB President Fred W. Hagemann, president of State Bank of Waverly, will conduct the opening business meet ing. Assisting him the past year as officers were James Lipton, president of Ida County State Bank, Ida Grove, IIB vice president, and Don W. Heineking, president, Security State Bank of Hubbard, IIB trea surer. Richard W. Berglund, a Des Moines attorney, is executive vice president of IIB. A full range of social and business activities for the two and one-half days of the convention is available for registrants of all ages, as shown in the following pro gram: P.M. Noon Golf Tournament—Brooks Golf Course. Ladies’ Luncheon—New Inn Lakeview Dining Room. • “ The Tube and I - Reflections of a Talk Show H ost” —Mary Brubaker, KCCI-TV, Des Moine. Thursday, July 22 P.M. Noon Registration— Lobby of the New Inn (until 6:00 p.m.). Couples G olf Tournament— Brooks G olf Course. Tennis Tournament— The New Inn Tennis Courts. 5:00 Young People’s Gathering. Taco Time - Enter tainment by “ Village Players of Okoboji,” golf & tennis tournaments (bring your clubs & rackets), games & more! 5:30 Wine Tasting Party (Adults Only), The New Inn Poolside (until 7:30). Friday, July 23 A.M. 8:45 First General Session— New Inn Convention Center. •Call to Order— Fred W. Hagemann, president, Iowa Independent Bankers; president, State Bank of Waverly. Saturday, July 24 A.M. 8:30 Second General Session—New Inn Convention Center. •Call to Order—James W. Lipton, vice presi dent, Iowa Independent Bankers; president, Ida^ County State Bank, Ida Grove. ^ •“ Comments on Current Monetary Policy” — Silas Keehn, president, Federal Reserve Bank of Chicago. •Question/Ans wer Session. ^ •“ Employee Stock Ownership Plans - ESOP” — Mary E. Curtin, attorney at law, Larkin, Hoff man, Daly & Lindgren, Ltd., Minneapolis, Minn. •“ The U.S. and The World Today” -J a c k Smith, ABC Network News correspondent £ (d om estic and in tern a tion a l cov e ra g e ), Washington, D.C. •Question/Ans wer Session. •Annual Business Meeting—Fred W. Hage mann, presiding. (Continued on next page) £ M. FORBES, JR. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M.E. CURTIN M.BRUBAKER S. KEEHN R.L. MC CORMICK, JR. 79 PROFILE all your customers accounts, certificates and loans with one inquiry. PROFILE all your customers related accounts, certificates and loans with the same inquiry. PROFILE your customer with the Toy National Bank Central Information File System. The household concept of our CIF system uses the name and address of each customer. All related accounts with the same last name and address are im mediately combined. One screen gives you not only the type, number and current balance of all accounts, certificates and loans of your customer but also the same information of your customers associated accounts. 33 more screens are then available to provide your bank with specifics about an account, a certificate or a loan. See the future of Central Inform a tion File Systems that shows the profile of customers as you need to know them. Call for more information and a profile demonstration. (712)279-5679 TOY NATIONAL BANK SIOUX CITY, IOWA 51102 MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 80 Io w a N ew s Investment Bankers Hold Annual Field Day LEFT~ lowa Investment Bankers Officers include Secy./Treas. Mike Reilly, v.p., Shearson/American Express, Inc.; Comm. Chmn. Mike Sparks, v.p., Chiles, Heider & Co., and Pres. Robert Kirkendall, acct. exec., E.F. Hutton & Co. RIGHT— Enjoying the 19th Hole are Steve Jones, v.p., Hawkeye Bancorp.; Bob Beh, pres., Carleton D. Beh Co.; Morris Knopf, atty., Alhers, Cooney, Dorweiler, Haynie & Smith, and Bob Simons, atty., Davis, Hockenberg, Wine, Brown & Koehn. •Report of the Resolutions Committee—Chair man James W. Lipton, president, Ida County State Bank, Ida Grove. •Report of the Nominating Committee—Chair man Herman C. Kilpper, president, Bankers Trust Company, Des Moines. •Election of Officers. •Announcements/adjournment to registrants luncheon. P.M. Noon W om en’s G olf Tournament—B rooks G olf Course. R e g is tra n ts ’ L uncheon (bank represen tatives)—New Inn Lakeview Dining Room. •Introduction and Remarks of Dignitaries—The Honorable Maurice E. Baringer, treasurer, State of Iowa, Des Moines. •The Honorable Thomas H. Huston, superinten- dent of banking, Iowa Banking Department, Des Moines. •Richard W. Buxton, A B A Council Iowa representative; president, Peoples Trust and Savings Bank, Indianola. # •Robert L. McCormick, Jr., president, Indepen dent Bankers Association of America; presi dent, Stillwater National Bank and Trust Com pany, Stillwater, Okla. •Golf and Tennis Awards. dl 12:30 Ladies’ Style Show - Fashions by the House of Dorell, Spencer—New Inn Poolside - During your Dutch Treat lunch. 5:30 Social Hour—New Inn Beach. 6:30 Barbecue—New Inn Beach. 41 Prizes. Dancing—New Inn Convention Hall (Cash Bar). All ages welcome. □ Sumner Bank to Remodel and Expand o n s t r u c t io n will begin on C major remodeling and expan sion of the main banking facility of the First National Bank of Sumner, according to Mickey Lewis, presi dent. The expansion will provide for more customer convenience and ad Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ditional private office space, as well as providing space for future in stallation of an automatic teller machine. A personal banking de partment and a separate personal micro computer area are two new services to be offered by the bank. An overall German theme for the® remodeling centers around the “ Old W orld,’ ’ with local antiques being incorporated into the furnishings plan. The bank entrance will be ramped from street to lobby level® and the lobby area will include a five-teller counter, a public display area and a childrens’ area. Office Concepts, Ltd. of Waterloo is in charge of the project, with Sten- ® son, Warm, Grimes, Port/Architects, Inc. of Waterloo providing architec tural design. Several local contrac tors will be involved in the p ro je ct^ and the materials used will be sup-9 plied locally, where possible. Ex pected completion date is January, 1983. 81 When you use Iow a Bankers Insurance & Services, Inc. fo r C reditor Protection, you g et professional service. IB IS offers Y O U : ■ A fu ll line o f credit insurance products ■ A complete excess program ■ A n uncomplicated insurance program fo r the complex agri-business world. ■ A fu lly com puterized claim system ■ Sales and product seminars ■ L ife and credit life licensing schools F or details ca ll our toll-free W ats line number 1 -8 0 0 -5 3 2 -1 4 2 3 , or w rite to G a ry Livesay or Ron M eyer. Iow a Bankers Insurance Services, Inc. 4 3 0 Liberty Building, Des Moines, Iowa 5 0 3 0 8 ( 51 5) 2 8 6 -4 3 0 0 C all our toll FREE W ATS number 1 -8 0 0 -5 3 2 -1 4 3 2 The rig ht combination. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 82 Io w a N ew s LEFT—Gp. 5 officers— Chmn. David N. Walthall, pres., State B&T, Council Bluffs, and Secy. Don Curry, pres. & cash., Farmers Savings, Masseria. RIGHT—Gp. 12 officers—Chmn. Ed Leahy, pres., Northwestern State of Orange City, and Secy. Bill Griggs, pres., Clay C o u n t# Natl., Spencer. LEFT—Gp. 2 new Chmn. Doug McDermott, pres., Home State, Jefferson, is congratulated by retiring Chmn. Cecil Dunn, pres., Security Sav., Eagle Grove. The new secretary is Dean Kechely, pres., North Iowa State Bank, Belmond, who was unable to be present. RIGHT—Al Maser, pres., 1st Natl., Le Mars, with Don Sabban, pres., Corwith State, who has been chmn. of Gp. 3, but resigned at the meeting due to the press of bank duties. Groups 2, 3, 12 Elect New Officers URING the second week of Iowa Bankers A ssocia tion group meetings; new officers were elected by Groups 2 and 1 2 , and Group 3 elected a new chairman to complete the term of its chairman who resigned that post. The new of ficers are: Group 2: Chmn.—Douglas McDer mott, president, Home State Bank, Jefferson. Secy.—Dean Kechely, president, North Iowa State Bank, Belmond. Group 3: Chmn.—Glenn O. Em mons, executive vice president, Northwood State Bank (to serve un til 1983). Secy.—Fred W. Hagemann, president, State Bank of Waverly (continues in office). Group 12: Chmn.—Ed J. Leahy, president, N orthw estern State Bank, Orange City. Secy.—Wm. Griggs, president, Clay County Na tional Bank, Spencer. Mr. Emmons had served previ ously as Group 3 chairman and agreed to take over that duty and as member of the IBA board of direc- D Northwestern Banker, July , 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tors for the remaining year. He will serve on the board until September 1, 1983, and Mr. Hagemann is sche duled to be elected chairman as his successor at the meeting in May, 1983. Mr. Emmons replaces Don Sabbann, president, Corwith State Bank, who resigned as Group 3 chairman due to the press of other duties at his bank. The chairmen of the groups all take office on September 1 of the year elected and serve on the board for a two-year period. As reported last month for the first week of group meetings, of ficers of the Iowa Bankers Associa tion and its subsidiaries gave a re port at each meeting. They included President Tom C. Dunlap, president and chairman of South Story Bank & Trust, Slater; President-Elect L.C. Bud Pike, president, Farmers Sav ings Bank, Grundy Center, and Ex ecutive Vice President Neil Milner. Also addressing each group was Tom Huston, Iowa superintendent of banking, who is also president, Columbus Junction State Bank. Mr. Huston, after reviewing im portant matters related to examin ing and managing of banks, informed^ his audiences that a study is under way in Iowa to form a financial in stitutions commission, including banking and insurance, which he op poses. “ The Iowa department o i£ banking is in its strongest position now,’ ’ he emphasized, “ and very probably would just be one depart ment among many, and would pro bably wind up being run by an acad-0 emician or politician or a non banker.’ ’ Mr. Milner noted in his remarks that the State of Ohio had tried such a Financial Institutions Board when# he worked in Ohio some years ago. “ They got two years behind in ex aminations and bank capital deteri orated, so they went back the other way, ’ ’ he pointed out. □# CBCT Opened in Sioux City Security National Bank of Sioux City recently opened a CBCT branch at 28th and Hamilton Boulevard in® Sioux City. 83 M These tough times demand 'state of the art’ efficiency and low data processing costs. We have both with the National Bank of Waterloo Computer Center.” Bill Beohm, President Tama State Bank • The Tama State Bank is just one o f the 70 satisfied m em bers o f the National Bank o f Waterloo Computer Center family, Bill and his bank staff find our computer services: • Efficient. . . with a wide variety o f ^ • • “state o f the art” systems. Low Cost. . . w e do data processing better and save you m on ey Accessible . . . on a day to day basis . . . for a productive working relationship. Knowledgeable. . . in banking as well as data processing. Responsive . . . to the changing needs o f bank management. Versatile. . . w e have the system to meet your needs. Call Milt Hennick In-Iowa Phone - 1-800-772-2411 National Bank of Waterloo Computer Services PO. Box 9 0 ■ W aterloo, Io w a 5 0 7 0 4 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 84 Io w a N ew s LEFT—Joe Hutchinson, pres., Union State, Rockwell City; Rod Amlie, chmn., Farmers Natl., Webster City, and Mark E. Conway, Iowa bkcw off., lowa-Des Moines Natl. RIGHT—Tom Huston, Iowa supt. of bkg., and Alice, with Dave Hill, pres., Farmers State, Jewell, and B o * Millen, pres., United Central Bank, Des Moines. LEFT—Winifred and Mark Arneson, chmn., Clear Lake B&T, and Scott Faris, corr. bk. rep., Northwestern Natl., Mpls. RIGHT—Verdelle and Jack Campbell, pres., Humboldt T&S, and Janet and Bob Dixon, pres., Rolfe State. LEFT— Paul Kovar, v.p., Peoples State, Missouri Valley; John Wear, corr. bk. off., Omaha Natl., and Allan Eich, v.p., 1st Natl., Woodbine. RIGHT—Chuck Strattan, U.S. Check Book Co., Cedar Falls; Gus Barker, v.p., and Cookie Lawrence, cash., both of 1st Natl., Gowrie; Kathy DeLucca, comp. serv. off., lowa-Des Moines Natl.; Margy J. Wood, pres., W illiams Sav., and Ed Batcheider, v.p., U.S. Check Book, Omaha. LEFT—George Milligan, pres., lowa-Des Moines Natl.; Jerry Howard, sr. v.p., Humboldt T&S, and Jeff Early, comm, lending off., N ortherrw Trust, Chicago. RIGHT— Bud Pike, pres.-elect of IBA and pres., Farmers Sav., Grundy Center; Tom Awtry, exec, v.p., 1st Natl., Fonda; T o m * Dunlap, pres, of IBA and chmn. & pres., South Story B&T, Slater, and Bill Goodyear, chmn., Lake City State Bank. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Io w a N ew s • 85 Photos from Second Week of Iowa Group Meetings LEFT— Milt Hennick, sr. v.p., Natl. Bank of Waterloo, and Eddie Wolf, v.p., United Central Bank of Des Moines. RIGHT— Bernie Kersey, v.p. & mgr., fin. inst. div., lowa-Des Moines Natl.; Bud Pike, IBA pres.-elect and pres.. Farmers Savings, Grundy Center, and Russ Spearman, IBA treas. and pres., Citizens Sav., Sac City. H|i LEFT— Bill Greaves, v.p., United Central Bank, Des Moines, and Neil Milner, exec, v.p., Iowa Bankers Assn. RIGHT— Keith Campbell, pres., Citizens State, Sheldon, and Max Roy, v.p., Drovers Bank of Chicago. Iowa Independent Bankers Offices Are Moved in Des Moines OFFICES of the Iowa Independent Bankers were moved recently to the 10th floor of the new Carriers Building, located on the northwest corner of Sixth and Grand in downtown Des Moines. Pictured at left is Richard W. Berglund, IIB executive vice president and corporate ^ s e c re ta ry in his law office. At right is Diane Gibbs, IIB executive secretary, in the adjoining IIB headquarters office. An additional office is ^ o c c u p ie d by a staff secretary and provides room for supplies. Two conference rooms are available on the same floor in the new building for IIB officer meetings and small committee meetings. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 86 Io w a N ew s ment organizations and agri-bus-< iness groups. Relying heavily on farm commodities charts which he has prepared from years of historical farm records, Mr. Scott discussed in depth such applications as Thei Supercycle or Long Wave Theory, Agricultural Commodity Cycles, Identifying Market Trends, Tech nical Tools, and Basis. Applying this technique, he sakM for example, that in early 1983 (about one year after President Rea gan took office), “ we should see soy beans at four times the price of corn—$ 1 0 .00 .“ i A t a dinner the first night, guests heard John Roach, owner of Roach A g Marketing, who is UCB’s mar keting consultant, and Howard Dave Scott (left), pres, of Professional Market Research, Bradford, III., reviews a farm com Hjort, president of Economic Per modities chart with Ken Meyers (center), pres. & c.e.o. of United Central Bancshares, Des Moines, and Farm Seminar host Max W. Evans, v.p. & farm mgr. of United Central Bank of spectives, Inc. Mr. Hjort is a noted economist who is a former Assistant Des Moines. Secretary of Agriculture and direc tor of Economics, Policy Analysis and Budget for the USD A during* OMMODITY Marketing was UCB’s farm management depart the Carter Administration. His food the im portan t top ic that ment, and his staff. and ag economic consulting com brought 64 bankers and farm oper Much of the seminar was taught pany is based in McLean, Va., the ators to a special Farm Seminar pre by Dave Scott of Bradford, 111., who type of business he was in prior to. sented in Des Moines recently by heads Professional Market Re taking the USD A position. His talk* United Central Bank of Des Moines, search. He has conducted several was titled “ World Agricultural N.A. Hosting the event was Max W. similar seminars and is a marketing Perspective—A One Year and a Ten Evans, vice president in charge of advisor to farmers, farm manage- Year Look.” □ UCB Presents Farm Marketing Seminar C Brenton Foundation Makes Donation sented on the Brenton Stage. The season opened on April 15 with “ Talley’s Folly” and will close with® “ Short Stuff,” an original produc tion for children that will play from October 14 through November 7. The Brenton Foundation’s gift to the theater company continues a tra-# dition of major gifts to projects based in or near communities in which Brenton Banks are located. HE Old Creamery Theatre Com during the first season. Because it pany has received a major gift of played to more people than pro $10,000 from the Brenton Founda jected in 1980, the decision was tion, based in Des Moines, to pay for made to move the theatre to the the relocation and renovation of the main theatre complex for the 1981 Old Creamery Theatre’s second Garrison season. stage. Formerly called the Studio During the Old Creamery Thea Theatre, this stage has been rechris tre’s 1982 season, 80 performances tened the Brenton Stage in recog of five different plays will be prenition of the Brenton Foundation’s sponsorship of this project. The Old Creamery Theatre opened its new second stage during the 1980 Garrison Season as an alter native performing space. This se cond theatre is smaller, at 1 1 0 seats, than the Old Creamery Theatre’s Main Stage, and is intended to pro vide a place in which to present both new and established dramatic works which have an artistic merit, but for which there is a more limited au dience. This second stage, originally loca ted in a vacant elementary school PICTURED left to right: Jeff Smull, OCTC exec, dir.; Ann Jorgensen, OCTC pres.; Jan ic^ | one block from the main theatre Geiken, OCTC fund raising chmn.; William H. Brenton, chmn., Brenton Banks, Inc.; Larry complex, was an unqualified success Rolfstad, pres., Brenton Bk. & Tr. of Vinton, and Thomas Johnson, OCTC artistic dir. T Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Io w a N ew s 87 •N ew Name Planned For Fort Dodge Bank Richard L. Smith, chairman and chief executive officer of The State ^3ank, Fort Dodge, reported after a special shareholders meeting that all shareholders present voted unani mously to exchange their shares of The State Bank stock for shares of a ^iew holding company to be formed, First American Bank Group, LTD. In conjunction with the holding company’s formation, the banks’ name will be changed to First ^Vmerican State Bank with locations in Fort Dodge and Dayton. “ This is definitely not a sale to a third party,’ ’ Mr. Smith said, “ rath er a stock transferral, which may •nable The State Bank to remain as the only independent bank in Fort Dodge. The holding company formation and bank name change will become • ffective after approval by regu latory authorities. Approval is ex pected by July 1. Bank President Honored w James E. King, president of the Peoples National Bank, Albia, has become the first member of the A l bia Rotary Club to be named a Paul ^ larris Fellow by the Rotary Inter national Foundation, which admini sters the funds for the international programs. Paul Harris was the foun der of Rotary. ^ Graduate fellows receive all of their necessary travel, living ex penses and educational expenses during the year of their grant, an average of more than $15,000 each, ^ h i s year’s theme is “ World Under standing and Peace.” Peoples National Bank also re cently celebrated its 75th anniver sary with an open house. The bank ^ias one office in Eddyville. With today’s rapid changes in banking technology, data processing is becoming an even more important management tool. That’s where I come in. • • Ken Roeder Correspondent Bank Officer Security National Bank W hen Ken Roeder talks about h ow the advances in the field o f data processing can affect your operations, h e’s speaking from experience— 15 years’ experience as a data processing specialist. Ken know s data processing. More important, he know s h ow to put it to w ork for the individual needs o f his correspondents. As a Security correspondent bank officer, Ken is also equipped to provide you with the best in ag lending and overline services. Today, you r continued profitability is as important to Security National as it is to you. Through experts like Ken Roeder, w e ’re determined to help y ou protect it. Iowa Insurance Firm Changes Corporate Name • Jon M. Grindle, president of Au tomated Systems of Iowa, Inc., head quartered in Ankeny, has changed the corporate name of his firm to Financial Insurance Associates, Inc. •rhe company continues to be located at 301 North Ankeny Blvd., Suite 220, Ankeny 50021. Mr. Grindle said the name change was made to more closely identify ^the insurance products his firm of fers to Iowa banks. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Your Security Correspondent Bankers 1. to r. Ken Roeder, Stan Carlson, Wilma Weeks, Steve Hatz, Mike Hefner Western Iowa’s Largest SECURITY NATIONAL BANK Sioux City, Iowa 5 1 1 0 1 (712) 277-6 554 © 1982 Security National Bank Member FDIC Northwestern Banker, July, 1982 88 Io w a N ew s OPEN HOUSE was held late last month in the new, four-story head quarters building of the First National Bank in Sioux City. At right is the teller lobby, with escalator to the second floor, which houses the correspondent bank department (lower left). Pictured are Gary Stevenson (left), vice pres, and head of that dept., and Joe Broders, corr. bkg. repr. At lower right is the family banking center on the main floor. First National Bank in Sioux City Occupies New, Four-Story Structure HE First National Bank in Sioux City opened for business recent ly in its new four-story building at Fifth and Pierce Streets with a rib bon-cutting ceremony that culmina ted nearly four years of planning. Richard C. Taylor, president, told civic officials, other guests and the assembled staff that the new facility will bring more efficiency and conve nience to First National customers and to bank operations. He said the nearly $7,000,000 project also dem onstrates First National’s commit ment to Sioux City and its positive outlook for the future growth of Sioux City and Siouxland. T Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Following an open house for vis iting bankers on June 25, public open house tours were conducted on June 26 and 27. After several years of considering the need for a new building because of the continued growth in deposits and customers, planning got under way nearly four years ago and con struction began in September, 1980. The project was completed on sche dule. The nearly $7 million cost in cludes construction, equipment, landscaping, property, furniture and fees. The new building, Mr. Taylor stated, affords 85,000 square feet, with the bank presently occupying the lower level, all of the first and se cond floors and part of the third floor. There are 16,000 square feet • rental space on the fourth floor. Consumer, commercial and farm management services are on the first floor, as well as executive of fices. The correspondent ban k in g department is on the second floor, along with trust, investment and real estate lending departments. Banks of Iowa Computer Services, Inc., is located on the third floor® Safe deposit services are on the lower level. The building itself presents a monolithic exterior appearance, achieved by blending the color of the^ brick and mortar. The interior decor Io w a N ew s ^ iv e s customers and staff warm and contemporary surroundings. A hydronic heat pump system, the latest in energy conservation, reuses the initial water supply for both heating • n d cooling. It is adaptable to a solar energy system in the future. The impressive, 40-foot high glass panels in both entrances were pro duced in England and are the first of ^Iheir type to be installed between Chicago and Salt Lake City. They can sustain wind conditions of more than 100 miles per hour. A six-lane drive-in system is unique t o Sioux City. Customers have di rect “ line of sight” contact through their car’s windshield with the tel lers located in the bank building. The first lane is specially designed t o handle larger amounts of coin and currency for business customers. The carrier rides on a chain-driven track. _ Other special features include t\.TMs and night depository at both entrances and accessible 24 hours per day, special conference room on the second floor furnished with old ^ ty le furniture, a parking lot with 30 customer parking spaces, escalator from the main lobby to the second floor, and a training room with video tape equipment on the second floor. The new building tastefully lends the old with the new. A dis play case on the first floor recap tures First National’s history as a descendant of the first bank in Sioux ^ i t y . Also, columns from the old oank, dating back to 1904, have been preserved in a courtyard and are anchored to cement pilings. The First National traces its lineage to ^ h e first bank to open in Sioux City in 1856; however, First National Bank actually was chartered in 1870. When the First National was 34 0 ^ears old after that chartering, the previous building was constructed in 1904. It was remodeled in 1951 and one special feature added at that time was a 90-foot long mural that • o s e from counter heighth to the ceil ing, depicting 100 years of Sioux Ci ty area history from the Indians to the present. An addition was added in 1960 and the main bank lobby •vas remodeled again in 1974. That builidng then was demolished in 1980 to make way for the new build ing on the same site. The need for the remodelings, ad•dition and then the new building is graphically shown by the growth of https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 89 New Facility Completed on Hubbell THE IOWA STATE Bank in Des Moines recently completed work on a new office building lo cated at East 38th and Hubbell. An open house was held to acquaint customers with the new 2,500 square foot facility, which features three drive through lanes, a night depository drop and large safe deposit box vault. Ausma Plostins, assistant vice president, is manager of the Hubbell office. The new facility replaces a smaller office near the same location. First National since the end of World War II. At year-end 1945, total assets of First National Bank in Sioux City were $19,391,740. By 1970, during which the late Joe T. Grant was president, the bank had grown to $90,031,900 total assets. Richard C. Taylor became president in 1973 and First National has con tinued to expand, ending 1981 with $189,576,299 in total assets. First National became a member of Banks of Iowa holding company in 1976. □ Only Clean, Polished or New Money Leaves Clarinda Bank Citizens State Bank of Clarinda decided to do something to show its customers just how deeply involved the bank is in the community. For two weeks, June 1-12, only clean and polished or new cash was allowed to leave the bank. The clean money is now showing up all over town and people are noticing it and talking about it, according to Michael L. Thompson, vice president. Dealing with the new currency as well as cleaning dirty coins required a lot of extra effort, but the bank felt the message to the community was clear and worth it. Index Offers New Service INDEX, Independent Bancservices Exchange, Inc., the “ service network of independent banking,” have announced the development of a major new service for independent banks. Index President Noel H. Busch and Chairman E. Milton Klohn re ported that expansion of services under development for independent banks and their customers will re sult in the introduction of compre hensive insurance, bonding and em ployee benefit plans to be implemen ted in several stages over the next several months. Mr. Busch said, “ Substantial planning and research of market fac tors, risk elements and underwriting standards has already been complet ed by Index, resulting in decisive evidence that where it concerns structure, coverages, cost and deliv ery methods appropriate to indepen dent banks, there is vast unfulfilled opportunity.” “ We are confident that this will be a uniqely beneficial facility,” said Mr. Klohn, “ both in terms of fea tures and value. Index has selected the Richter/Robb companies of Den ver, Fort Wayne, Chicago and Min neapolis to coordinate the devel opment and management of these programs. The result will be a dedi cated program designed specifically for the independent bank, similar to the Index approach toward other services.” Mr. Klohn pointed out that the principal purposes of Index are to provide services that strengthen management performance of inde pendent hankers, and increase mar ket-place effectiveness of indepen dent banks. The services developed by Index are distributed through independent bankers’ banks and independent banker associations who become principal members of Index. Where there is no existing principal mem ber, Index distributes the services directly to participating banks. In dex views the nation’s 11,250 inde pendent banks as its marketplace. Northwestern Banker, July, 1982 90 Io w a N ew s George F. Milligan, president and chief operating officer of the IowaDes Moines National Bank, recently announced the following promotions and organizational changes within the bank: Linda J. Collins, second vice president, has been transferred to loan administration and will be as suming responsibility for loan re view and compliance and Thomas L. Quinlin, operations officer, has been transferred to the financial institu tions department. L.J. COLLINS T.L. QUINLIN Ms. Collins joined the bank in 1972 as a management trainee. Mr. Quinlin joined in 1969 and has held various positions in card services and operations. Ted Bowen has been named mana ger of deposit accounting. He joined the bank in 1975, serving in collec tions, bookkeeping and operations. Frances V. Colston was named manager of electronic banking ser vices and will be assuming respon sibility for electronic operations and customer service. Nancy J. Meadows, named opera tions manager of the Euclid office, joined in 1975 and has served in retail and personal banking. Janet A. Skelly has been named Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis compliance representative and will have responsibility for the bank’s compliance with all state and federal regulations. She joined in 1977. * * * Herman C. Kilpper, president and chief executive officer of Bankers Trust, has announced the appoint ment of Craig E. Wierson as vice president and director of internal audit. Mr. Wierson joins Bankers Trust from Peat, Marwick, Mitchell and Company, where he was employed for the past eight years, most recent ly as manager in the management group. B r a d le y L. Burt, vice presi dent commercial lending, has been elected 1982-83 president of the Missouri Valley Chapter of the Robert M orris Associates at the B.L. BURT chapters spring conference in Lincoln, Neb. He is im mediate past president of the Associ ates’ Iowa Group. * * * tion services, installment lending services and commercial services support. Each of these divisions report to Mr. Harry A. Wilmer, senior vice president. Iowa commercial services will 10 headed by Ivan L. Johnson, senior vice president. This division will serve existing and prospective cor respondent and commercial cus tomers throughout the state (# Iowa. The correspondent depart ment will continue to be headed by Eddie A. W olf, senior vice president, with assistance from William B. Greaves and Cyrus D. Kirk, v it# presidents. Metropolitan commercial services will be headed by Kim S. Meadows, vice president. This division will serve the financial needs of e # ecutives and professionals and businesses in the metropolitan area. Reporting to Mr. Meadows are Dale L. Klauss, vice president; Barbara 1^ Hein, assistant vice president; Craig W. Jordan, commercial loan officer, and Willard E. Canine. Stephen F. Sherrod, vice presi dent, will be responsible for loan ack minstration and construction s e ^ vices. Mr. Sherrod’s duties will in clude loan documentation and struc ture, as well as serving the construc tion industry. ^ Installment lending services will be headed by Hans H. Loeffler, vice president. Reporting to Mr. Loeffler are Gary C. Calvert and Dwight LeRette, installment loan officers, f Sherry Rissman, commercial ser vices officer, will be responsible for commercial services support. Her duties include supervision of com mercial loan operations, colla tera l credit and credit analysis. * * * Banco Financial Corporation, Minneapolis, Minn., the finance sub^i sidiary of Northwest Bancorporation, recently opened a branch office in Des Moines. Gary A. H er Robert G. Millen, president and mann has been chief executive officer of United named vice pres Central Bank has announced several ident and man organizational changes in the bank’s ager of this new lending function, designed to im office and will be prove the bank’s overall effec developing busi tiveness in meeting customers’ ness in Iowa and credit needs. the eastern half Five divisions were created, in 0 f Í!¡ebr£ SkaG.A. HERMANN cluding: Iowa commercial services, Mr. Hermann metropolitan commercial services, rejoins Banco after three years as^ loan administration and construc the president and a director of the 91 MOW'STHETIME! TOCHOOSEA CORRESPONDENT BANK Nearly every large bank has a correspondent banking department. Q. So how do you choose which bank to do business with? A. Tcilk to the people. Find out how knowledgeable they are. How professional. Make them explain how their correspondent services can help you. Are they easy to deal with? They should be — a correspondent banker and his clients need to work in harmony. Check their reputation. Are they dependable and reliable? All solid relationships are built on trust. In a banking relationship, trust is one of the most important elements. Be certain that frequent communications will be maintained between the correspondent bank and your bank. If one or both of you aren’t aware and well informed, there’s bound to be trouble. Of course, at United Central Bank, we think the people in our correspondent banking department can do the best job for you. But you be the judge. Call us toll-free, 1-800-362-1615. Make an appointment. Then put us to the test. Now’s the time! ucb UNITEDCENTRALBANK AFFILIATED WITH UNITED CENTRAL BANCSHARES INC. MEMBER FDIC DES MOINES, IOWA 50304 (515) 245-7111 LOCUST AT 6TH • 5TH & GRAND • 35TH & INGERSOLL 3400 WESTOWN PKWY. • 501 E. ARMY POST ROAD https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 92 Io w a N ew s Cash Manager account attracts new customers for Des Moines bank INCE announcing its United Cash Manager service earlier this year, United Central Bank of Des Moines, N.A., reports the plan has been “ well accepted and is in creasing in popularity.” James R. Katek, Jr., director of marketing, said the bank would not reveal num bers of accounts opened or dollar amounts, but did indicate that it has attracted new customers as well as bringing in new money from exis ting customers. Although sources of funds could not be tracked, it is felt there has been a reverse flow of funds to the bank since this new ser vice was made available. The United Cash Manager ac count was made available January 25 and the marketing letters to pro spects and customers offers these benefits to the sweep account: •Excess funds maintained in your checking (or NOW) accounts are automatically invested in high yield ing Money Market Funds to maxi mize your earnings potential. •Your funds are totally liquid, and may be accessed simply by writ ing a check for any amount. This provides you with accessibility to your funds unparalleled by any cer tificate of deposit or repurchase agreement, and most money market funds which require that checks be written for a minimum amount. •You have the convenience of S banking with United Central Bank (one of Iowa’s largest), while com bining the advantages of a checking account with a high interest money market fund. The plan is offered on a business account basis as well as a personal account. A $2,500 minimum is re quired for the personal account, and that minimum balance will earn 514% interest compounded daily to yield 5.47% as a NOW account. Any amounts above the $2,500 will be au tomatically swept into one of three alternative funds selected by the customer. The transfer amount must be in minimums of $1,000. In the United Cash Manager busi ness account, minimum sweep ac counts are $5,000. A $20 startup fee is charged for both the business and personal ac count. The current rates for the three funds administered by Fed erated Cash Management Systems, which currently manages in excess of $23 billion in funds, are posted daily in business papers. The money in the NOW account is insured. The money invested in any of the three money market funds is not insured. In addition to the regular check ing account statement, a United Cash Manager customer receives a month-end statement showing the fund balance, transactions, interest earned and fees. □ Moines National Bank for five years® and is currently assistant cashier in operations. Kathy Kelley, elected secretary, is assistant auditor for Valley Nation al Bank. • Council Bluffs Exec. Named Anthony M. Payne has been elected chairman and chief executive officer of the First National Bank o ^ Council Bluffs, a c c o r d in g to Paul B. Moser, current ch a ir man of the bank. Bruce E. Cramer has been elected vice president and commercial loan officer. M r. P a y n e, A.M. PAYNE who will take over his duties im m ediately, previously was with Dakota North-( western Bank of Bismarck, North Dakota, as senior vice president for loan administration. He also served for 12 years in various lending and administrative capacities with U.S.< National Bank of Omaha. Mr. Cramer, who has been in banking the past nine years, pre viously was serving as commercial banking officer with the Omaha N a -^ tional Bank, Nebraska. Mason City Bank Names One The board of First National Bank of Mason City recently announced 0 the election of James L. GarFirst National Bank of Fonda. ver, correspon spring of 1981. Mr. Hermann is an ag business dent banking of * * * ficer. graduate from Iowa State Universi M r. G arver ty and is a graduate of the Graduate The Des Moines Chapter of the School of Banking at the University American Institute of Banking re began his bank of Wisconsin, Madison. He began cently elected its board of directors ing career in 1960 at the Sevhis career in 1964 in the ag loan for the 1982-83 term. department at Swea City State Kent M. Gaudian has been elected ery State Bank Bank. He began his Banco associa president. He has been a member of in Kansas. He JL. GARVER tion in 1968 when he became ag rep AIB for three and one-half years and has been assiswith the First National Bank in Ma is employed by West Bank in the tant cashier at the Admire Bank in son City, later transferring to the operations and credit analysis areas Emporia since July, 1977. commercial loan department. In 1976 of the bank. he was elected president and a direc Beth McGeough has been elected Dubuque Officer Elected tor of Northwest Agricultural Credit first vice president. She is a loan of Curtis J. (Chuck) Schrup III was Company and moved to Sioux Falls. ficer at Warren County Brenton elected secretary of the Iowa Young He left that post in 1979 to move to Bank of Indianola. Bankers Association at their annual his position at Fonda. Kathy S. Zdychnec has been elec convention May 13-14 in the The Des Moines office will pro ted second vice president. She is the Amanas. vide secured lending to small and advertising and communications Mr. Schrup currently is vice presi medium-sized businesses. Banco Fi manager for the Iowa-Des Moines dent of investments at the American nancial Corporation was founded in National Bank. Trust & Savings Bank, Dubuque. ^ 1974, with the first branch office be Jeff McMullin, elected treasurer, He has been with the bank since ^ ing opened in Denver, Colo., in the has been employed by East Des 1970. Northwestern Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 93 W hen You Build Or Remodel Your Bank, W ho Really Benefits? |0*Vour Local Excavator 0^Tour Local Lumber Yard |0^bur Local Concrete Supplier 0 ^ fo tir Local Carpet Store 0H four Local Mason [Z^Your Local Hardware Store [0*Y6ur Local Electrician 0^Your Local Motels 0^Your Local Plumber |0^Tour Local Restaurants |0Hfour Local Heating Supplier |0Hfour Local Drapery Shops 0 ^ 6 i i f Local Paint Store 0^Your Local Appliance Store 0 ^ 6 u r Local Painter ¿^ Y òu r Local Landscaper 0 ^ ?6u r Local Roofer |0HTour Local Newspaper l^^Tour Local Air Conditioning Company The Kirk Gross Company uses local contractors and suppliers whenever possible. But they’re not the only people who benefit. *YOU DO, TOO! The whole town benefits. That’s what your operation is all about. That’s what our operation is all about. 4015 Alexandra Drive Waterloo, Iowa 50704 Phone 319-234-6641 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, July, 1982 94 Io w a N ew s UCB Correspondent Department Moves those ‘prehistoric days’ it was unus ual to move from one department t(P another. I was able to get involved in many different functions, which I think was advantageous to me when I moved to this bank.” The move came in 1954 when Live® stock National merged with Omaha National. At the time Mr. Babcock was assistant cashier at Livestock National’s office in the Livestock^ Exchange Building. ® After the merger he worked in the loan discount area and also in bus iness development, involving public relations and account solicitation— He also was active in the m arketing NEW OFFICES for the correspondent bank department were completed recently at United of Omaha National’s first payroll ac Central Bank of Des Moines, N.A. The newer, expanded facilities share the same area in counting service. the east half of the UCB third floor with the commercial lending division. In photo above, But it is the segment of his career Margo Foxhoven, secy, for the correspondent department, is pictured at her desk with, from left, Eddie A. Wolf, sr. v.p., and Cyrus D. Kirk and William B. Greaves, v.p.s. Their pri in correspondent banking that M r^ Babcock has enjoyed the most, “ r vate offices are shown in the background. have really appreciated the oppor BABCOCK RETIRES... Prior to moving into correspon tunity to travel the region and work (Continued from page 72) dent banking in 1966, Mr. Babcock with so many great people.” anybody he didn’t like or who didn’t held a variety of positions at Omaha Mr. Babcock already has a Soutl^ like him. He knows so many people National and Livestock National. Dakota fishing trip planned, and he in banking—he’s going to be sorely “ At Livestock National I worked and his wife, Dorothy (“ D ot” ), will be missed here at Omaha National. But much of the time as a utility person, traveling to the west coast later this I know Jack’s looking forward to filling in wherever where I was need summer. Golf, yardwork and hunting spending more time on the golf ed—in bookkeeping, transit, the tel also are on his list of retirement ac^ course (he hit his first hole-in-one on ler cages, and the loan department. tivities. □ June 19) and with the fishing pole.” It was a real break for me because in Committed to making your bank stand apart from the INDEX OF ADVERTISERS JULY 1982 Acorn P r in tin g ............................................ American Express Travelers Cheques . . . American National Bank & Trust, St. Paul Associates Commercial Corp..................... . . Bankers Trust Co., Des M o in e s ................ Bankers Video Service Corp....................... . . .76 Central Bank of D enver............................ Colorado National Bank, D enver.............. Continental Bank, C h ic a g o ...................... 62-63 . . .59 . . . .9 Data Management P ro d u c ts .................... Drovers Bank of C h ic a g o .......................... . . .14 First First First First First . . . .9 . . .65 . . .75 . . .73 48-49 National Bank, C h ic a g o .................... National Bank, D enver...................... National Bank, L in c o ln .................... National Bank, O m a h a .................... National Bank, St. P a u l.................... .12 ?» . . .11 4 Gross, Kirk Co., W a te rlo o .......................... . . .9Ä Harris Trust & Savings Bank, Chicago .. . . . .17 Iowa Bankers Insurance & S e rvice s................................. 81 lowa-Des Moines National B a n k ....................................... 96 Kooker, E.F. & A s s o c ia te s ................................................. 80 Manufacturers Hanover Trust Co......................................... 3 Merchants National Bank, Cedar R a p id s ............................| Midland National Bank, M in n e a p o lis............................... 43 Minnesota Protective Life Co..............................................47 National Bank of Commerce, L in c o ln ............................... 95 National Bank of W a te rlo o ................................................. 83 National Boulevard Bank, C h ic a g o ................................... 26 Northern Trust Co., C h ic a g o ............................................. 13 Northwestern National Bank, M in n e a p o lis ....................3 ^ Office Concepts, W a te rlo o ................................................ 94 SLT Warehouse Co................................................................31 Security National Bank, Sioux C it y ................................... 87 Toy National Bank, Sioux C it y ........................................... 79 United Central Bank, N.A., Des Moines . United States National Bank, Omaha . . . Zions First National Bank, Salt Lake City DigitizedNorthwestern for FRASER Banker, July, 1982 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 91 Today's computer service choice should be based on tomorrow. p NBC/CSC C om p u ter S ervices C orp oration A wholly-owned subsidiary of the National Bank of Commerce Trust & Savings Association NBC Center, 13th & O Streets, P.O. Box 82408. Lincoln, Nebraska 68501/Telephone (402) 472-4440 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Computer technology has produced a telecommunications network that's becoming a vital part of bank data processing. The EFTS environment demands a nationwide network of on line terminals offering "state of the art” convenience to your customers. Just keeping up will be a challenge for every bank . . . a challenge that will be hard to meet with any inhouse system and software package you install today. Flexibility will be the key to your competitive edge. And that's what NBC/CSC guarantees you . . . flexibility that will keep your data processing capabilities up to speed, up to the minute. O ur history dates back to 1964. We re among the Midwest's computer leaders in size and experience. We've built the area's premier data processing service, offering every capability and the full range of products your bank needs today. And tomorrow . . . NBC/CSC will continue to offer you every vital service under the sun. For more information about NBC Computer Services Corporation and our complete product manual, call Rod Morten or Mike Sorensen at 402/4724440. / Demand deposit accounting / Savings accounting / Certificate of deposit accounting / Commercial loan accounting / Personal loan accounting / Individual retirement accounting / General ledger accounting / On-line and central information systems / Asset participation system / Mortgage loan accounting / Payroll accounting system / Bond accounting / On-line multipocket proof system / Administrative CRT/Investment Hotline Some custom ers write a lot of checks. Some don’t. Instead o f w riting c h e c k s , th ey are a c c e s sin g their c h e c k in g a c c o u n ts w ith M asterCard II™ — at ov er 3 .5 m illio n M asterCard® m erch an ts a n d b an k in g o ffic e s a ro u n d the w o rld . o f a c o n tr o lle d delivery system that is a lread y in p la ce . M asterCard II e n h a n c e s y o u r p resen t ATM p rog ra m a n d c a n b e y o u r link to ATM n etw orks o f the future. D e sig n e d a ro u n d the latest te ch n o lo g y , M asterCard II w ill give your cu s to m e r s : In a d d ition , M asterCard II w ill b e p rofitable for y o u r institution — a n e x c e lle n t s o u r c e o f fee in c o m e a n d a n in d isp e n sa b le feature o f y o u r tran saction a c c o u n t p a c k a g e . • W o rld w id e a c c e s s to tra n sa ction a c c o u n ts at M asterCard m erch a n ts. • ATM a c c e s s . • C ash a d v a n c e ca p a b ilitie s at o v e r 72,000 b an k in g o ffice s . • D escrip tive tran saction reportin g. A n d , w h ile M asterCard II w o r k s like a c h e c k , it elim in a tes the a c c e p t a n c e p r o b le m s often a s s o cia te d w ith c h e c k w riting a lo n g w ith the n e e d to c a n y large a m o u n ts o f ca s h . A s b e n e ficia l a s M asterCard II is for the con su m er, it w ill p ro v e to b e e v e n m o r e s o for y ou r fin ancial institution. T h e M asterCard brand is r e c o g n iz e d w o r ld w id e a n d it m a k e s y o u part M asterCard II is a p ro g ra m that you m a n a g e. B a n c o Card S ervices re m o v e s the c o m p le x ity o f e x e c u tio n th rou gh m arketing, o p e ra tio n a l a n d system s su p p ort. For m o r e in form a tion , c o n ta ct the B a n c o Card S ervices o ffic e in y o u r area. D es M o in e s M in n e a p o lis (51 5) 2 45-3248 (6 1 2 ) 372-9622 O m aha (40 2) W e b e lie v e the d e b it ca rd h o ld s the sa m e grow th poten tia l that cred it c a rd s h e ld in the 1970’s ...g ro w th that y o u c a n tap today. Banco. Banco Card Services https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 536 ,24 7 8 A Subsidiary of the lowa-Des Moines National Bank Seventh & Walnut Des Moines, Iowa 50309