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Five State Associations Elect New Officers
Federal Reserve Bank of St. Louis

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Merchants National Bank
C edar R apids, Iowa 52401
Federal Reserve Bank of St. Louis

Member F.D.I.C.

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Federal Reserve Bank of St. Louis

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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.

No. 1426

89th Year

JULY 1982




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).



Nebraska banker fights back

Ray Tiedje forms cash management MMF to compete nationally


Offers multiple EDP sites

Midwest firm now serves banks in 13 states


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
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.
Federal Reserve Bank of St. Louis


New ag lending funds

MABSCO initiates competitive rate source


I mois
North Dakota

57 Wyoming
64 Colorado
82 Iowa Groups
Second Week


Letter to Editor
Bank Promotions
Twin Cities



South Dakota

MB Program
Des Moines

305 15th Street, Des Moines, Iowa 50309

Publisher & Editor
Ben Haller, Jr.

Associate Publisher
Steve Burch

Phone (515) 244-8163

Associate Editor
Becky McBurney

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


Convention Calendar
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.,
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,
Oct. 10-15— IBAA Bank Executive Develop­
ment Seminar, Muncie, Ind.
Oct. 16-20—ABA Annual Convention, A t­
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
Sept. 15-18—Colorado Independent Bank­
ers Association Annual Meeting and
Convention, The Lodge at Vail, Vail.
Aug. 8-13—IBA Consumer Lending School,
EIU, Charleston.

Northwestern Banker, July, 1982
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.
J u ly 22-24 — 11B A n n u a l C o n ve n tio n ,
Sept. 19-21 — IBA Annual C onvention,
Marriott Hotel, Des Moines.
July 25-30— Midwest Banking Institute,
Univ. of Minn., Morris.
Aug. 19-22— IBM Annual State Convention,
Arrowwood Lodge, Alexandria.
Aug. 24-27—79th Annual Convention
Membership Meeting, Banff, Canada.


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.
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£
“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:

’When it com es to custom er preference*,
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In fact, they d on ’t even
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W h ich isn’t surprising
en you consider that only

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W e can help cancel lost credit
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cash a personal check for up to
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customer needs help changing
travel plans. A n d an Emergency
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C om bine all that with our
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nearly 1000 worldwide Travel

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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
Federal Reserve Bank of St. Louis



Bank Promotions
ROMOTIONS and other an­
nouncements have been made
by the following banks and holding
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
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
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.


Northwestern Banker, July, 1982
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
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.®





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


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.

The First National Bank of Chicago


The First National Bank o f Chicago • M em ber FD.I.C.
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982

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.



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
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
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
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
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
•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




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Federal Reserve Bank of St. Louis


Northwestern Banker, July, 1982

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
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
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



Accepted Sale Registers by Bank
Clerks Everywhere"
Tor information write

Oakland, Iowa

Northwestern Banker, July, 1982
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.
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
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
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.


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
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

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.



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
Federal Reserve Bank of St. Louis

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.
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
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
(Turn to page 25, please)
Northwestern Banker, July, 1982


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.


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

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
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
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
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


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 Trust and Savings Bank, 111 W. Monroe St., Chicago, IL 60603.Member F.D.I.C., Federal Reserve System.
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982

“ This is of obvious value to any
financial institution seeking to in­
crease its marketing leverage with
local businesses,” the spokesman
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
Federal Reserve Bank of St. Louis

ing in the Chicago area, and addi­
tional companies are beginning pro­
cessing in Missouri, Kentucky, and
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.

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
“ 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
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. ’ ’



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 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.
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982

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
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


Northwestern Banker, July, 1982
Federal Reserve Bank of St. Louis


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
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
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.
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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


 Banker, July, 1982
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
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
“ 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®



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
“ 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
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
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■ Investments & Safekeeping

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■ Foreign Banking Services

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■ Credit Information

■ Loan Participation

.. . and much more.

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An Equal Opportunity Employer

Your regional reserve city bank
One Main Street / Salt Lake City, Utah 84111
Phone: 801 524-4711
Federal Reserve Bank of St. Louis


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
MASI receives a service fee from
Rabobank of 25 basis points to sus­

Northwestern Banker, July, 1982
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

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-



(Continued from page 15)







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
“ 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
‘ ‘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
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
Northwestern Banker, July, 1982


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.

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

Banker, July, 1982
Federal Reserve Bank of St. Louis


^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
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


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
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
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
Federal Reserve Bank of St. Louis


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-®
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
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


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.,

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.
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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
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
development and loan department.
A career banker, Mr. Veronda was
formerly with the First Bank of

Northwestern Banker, July, 1982
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
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


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
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.



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.

P 0. Box 242. St Louis. M o. 63I66 • 314/241 9750 • Offices in Maior Cities
Federal Reserve Bank of St. Louis




Northwestern Banker, July, 1982


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
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


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,




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
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.

Banker, July, 1982
Federal Reserve Bank of St. Louis


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


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.
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

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.
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
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
Federal Reserve Bank of St. Louis

Herbert Dolowy, president and
chief executive
officer of Lincoln
National Bank,
r e c e n t ly
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
* * *

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
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
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
Mrs. Lullen,
who has been
with the bank 1 2
years, began her
banking career
as executive sec­
retary to the
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



—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/ ^
ings Bank, acc o r d in g
Eugene Heytow,
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




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
Thomas J. Dammrich, vice presi­
dent, will move up from his position



Illinois N e w s
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
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


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
Editor and Publisher


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
Other officers who will serve with
Mr. Ingebrand in the 1982-83 year
are: 1st Vice Pres.—Herbert A.


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
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
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

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.

Banker, July, 1982
Federal Reserve Bank of St. Louis

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.

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

Federal Reserve Bank of St. Louis


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.

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
Federal Reserve Bank of St. Louis

M in n e s o ta N e w s


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.


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
Federal Reserve Bank of St. Louis



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.

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
Association - Legislation
The afternoon program basically
for FRASERBanker, July, 1982
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
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




M in n e s o ta N e w s


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



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
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
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
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
Federal Reserve Bank of St. Louis


M in n e s o ta N e w s

h FSM M a rie H tio il Bant

p s and J o k e r s




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

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
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.


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.
Federal Reserve Bank of St. Louis


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.



Northwestern Banker, July, 1982
Federal Reserve Bank of St. Louis


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
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
banking; Carol Hollerich, Stephen E. Stephanie
Regan and Mary P. Dredge, cash Iverson to assis­
management; Jamie Niethammer, in­ tant vice presi­
vestments; Roger H. Young, bond in­ d en t;
vestment; Rita L. Ruvelson, asset/ Johnson to teller
liability management; David D. Nel­ services officer,
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 ­
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
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.



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 ®


Vfe w ant
your business,

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

Federal Reserve Bank of St. Louis



Northwestern Banker, July, 1982


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
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;
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
Tomaszek a n d
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.
* * *
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
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.

Northwestern Banker, July, 1982
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
* * *
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.



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.







Minnesota Protective Life Insurance Company

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
Federal Reserve Bank of St. Louis

C liff Ekdahl

Northwestern Banker, July, 1982


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
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
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.

Banker, July, 1982
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



Federal Reserve Bank of St. Louis


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
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



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
for FRASERBanker, July, 1982
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
M r.
M ont­
gom ery joined
the bank in 1980
under the bank
managem ent
training p ro ­
gram. He prep
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.



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
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.
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.



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

Richfield Appointment Told
W. Joseph White recently was ap­
pointed assistant vice president,
commercial loan
officer of Rich­
field Bank &
Trust Co., Rich­
Mr. White has
spent 16 years in
banking, m ost
recently with the
National Bank
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.
Federal Reserve Bank of St. Louis


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.



Hastings Officer Elected



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
Mr. W inkel­
man previously
was a vice presi­
dent with West­
ern B a n k o f
F al l s,
South Dakota,
where his pri­
mary responsibility was with the
real estate department.

Michele P. Bohlig was elected
marketing officer of the North­
tional Bank of
She started
her career with
th e b a n k as
bookk eeping
clerk and later
w as
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


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
appointed assis-



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
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
Gilbert E. Mjoen, senior vice pres­
ident, cashier and comptroller; Kar­

Northwestern Banker, July, 1982
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
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




Minnehaha Country Club, Sioux Falls
Holiday Inn, Mitchell
Bavarian Inn, Custer
Moose Lodge, Mobridge
Sheraton, Aberdeen



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

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
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


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.
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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

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.

Banker, July, 1982
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
Mr. Sorensen began his banking
career in 1972 with First North­
western National Bank of Marshall,
Minn., joining the Fargo bank in

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.


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,

Minnesota visitors Truman Jeffers, exec, v.p., MBA, and wife Leila
with MBA Pres. Robert Welle, chmn., 1st Natl., Bemidji, and wife
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.


Northwestern Banker, July , 1982


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

Two Elected to Board
First National Bank of Jamestown
recently announced the election of

Northwestern Banker, July, 1982
Federal Reserve Bank of St. Louis

Curtiss O. Goehner and Raymond R.
Heupel to the board.



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

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
is a 1974 grad­
uate of the University of North
Dakota with a degree in business ad­


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
Editor and Publisher








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
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;
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
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,
“ 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,
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




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


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
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,
At the final morning session, an
excellent film and talk on “ Sexual
Harassment” was presented by Pa­

Northwestern Banker, July, 1982
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.






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


And watch how fast we respond.

? M nnr' ^
£ INC §

W e m ake big ideas happen.
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,
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
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.


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
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
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- ®
Ms. Rowton was employed by the
Internal Revenue Service and the





Lewistown Executive Named



Northwestern Banker, July, 1982
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
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


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
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.








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
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.-
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,

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
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
Northwestern Banker, July, 1982

Donald H. Echtermeyer
Senior Vice President
Correspondent Banking Div
Central Bank of Denver.


"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.
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
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
Federal Reserve Bank of St. Louis

The Better Bankers is a service mark
of Central Bank of Denver.



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
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
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

I X chatter

Northwestern Banker, July, 1982
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
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
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.



P.O. Box 5808
Denver, Colorado 80217
303 620-5491
Member FDIC
Member First National Bancorporation
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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
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


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.
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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.


o n s t r u c t io n


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
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
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

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
Bank in Boulder
® as manager of bookkeeping opera­




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




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-
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,
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

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.


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

(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
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


“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.


For more information, call
Steve Navin.

Main Bank
20th & Farnam
Regency Office
Central Park Plaza Office

Member FDIC
Affiliate of Northwest

Northwestern Banker, July, 1982
Federal Reserve Bank of St. Louis

US National Bank
of Omaha


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,
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

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,
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
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,
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
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
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
Due to the large response and
interest, the bank is considering of­
fering other additional programs as
soon as Mr. Allen can be resche­

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
Mr. Branna­
gan has been
with City Na­
tional Bank &
T ru st for 13
years, most re­
cently as assistant manager of Motor
Bank West.
Northwestern Banker, July, 1982


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.





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
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
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.
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
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
“ 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

(Turn to page 94, please)

Douglas County Bank & Trust
Company recently announced the
a d d itio n
Kuhns as a com­
mercial loan of­
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.
* * *



Jim Flodine, Fred Kuehl, Don Ostrand, Ralph Peterson, Charles Leffler.

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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
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
Mr. Potter was senior executive
vice president of the bank. He was
elected to the board of directors in
Mr. Potter succeeds James F.
Nissen, who resigned to accept a
position with a regional banking


and served as assistant to the presi­
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
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
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
Federal Reserve Bank of St. Louis



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
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 ®


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Northwestern Banker, July, 1982


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Banker, July, 1982
Federal Reserve Bank of St. Louis


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,
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 ,
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,

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
th e ca u se o f

small business.
The o ffic ia l
• award presentation was made on
Monday, May 10, by Sioux City’s
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
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


Io w a N ew s


Vice Pres.


Exec. V.P.

•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


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

Noon Golf Tournament—Brooks Golf Course.
Ladies’ Luncheon—New Inn Lakeview Dining
“ The Tube and I - Reflections of a Talk Show
H ost” —Mary Brubaker, KCCI-TV, Des Moine.

Thursday, July 22
Noon Registration— Lobby of the New Inn
(until 6:00 p.m.).
Couples G olf Tournament— Brooks G olf
Tennis Tournament— The New Inn Tennis
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
8:45 First General Session— New Inn Convention
•Call to Order— Fred W. Hagemann, president,
Iowa Independent Bankers; president, State
Bank of Waverly.

Saturday, July 24
8:30 Second General Session—New Inn Convention
•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
•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) £


Northwestern Banker, July, 1982
Federal Reserve Bank of St. Louis






all your customers accounts, certificates
and loans with one inquiry.

all your customers related accounts, certificates and
loans with the same inquiry.

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

Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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
Noon W om en’s G olf Tournament—B rooks G olf
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.
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.
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
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,


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Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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,
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-


Northwestern Banker, July , 1982
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.


These tough times demand
'state of the art’ efficiency and low
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both with the National Bank of
Waterloo Computer Center.”
Bill Beohm, President
Tama State Bank


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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
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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
Federal Reserve Bank of St. Louis

Io w a N ew s



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
Federal Reserve Bank of St. Louis


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 .“
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


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
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.


Northwestern Banker, July, 1982
Federal Reserve Bank of St. Louis

Io w a N ew s


•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
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.
Federal Reserve Bank of St. Louis

Your Security Correspondent Bankers

1. to r. Ken Roeder, Stan Carlson,
Wilma Weeks, Steve Hatz, Mike Hefner


Sioux City, Iowa 5 1 1 0 1 (712) 277-6 554

© 1982 Security National Bank

Member FDIC

Northwestern Banker, July, 1982


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.


Northwestern Banker, July, 1982
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
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
_ 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
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
Federal Reserve Bank of St. Louis


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
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
“ 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
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


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.



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
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
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
B r a d le y
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
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#
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



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
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!

DES MOINES, IOWA 50304 (515) 245-7111
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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


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
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
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,
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
* * *
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
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
Federal Reserve Bank of St. Louis


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

The Kirk Gross Company uses local contractors and
suppliers whenever possible. But they’re not the only
people who benefit.

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
Federal Reserve Bank of St. Louis

Northwestern Banker, July, 1982


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
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

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 ......................

. . .59
. . . .9

Data Management P ro d u c ts ....................
Drovers Bank of C h ic a g o ..........................

. . .14


. . . .9
. . .65
. . .75
. . .73

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....................


. .



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

for FRASER Banker, July, 1982
Federal Reserve Bank of St. Louis


service choice
should be
based on


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
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
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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 .

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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
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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
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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
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A n d , w h ile M asterCard II w o r k s like a
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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
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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
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(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 Card Services
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