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Vol. 10 No. 13 July 20,1981 Des Moines, Iowa Fed Governor Gramley Says: Small Banks Will Remain Viable P R EPA R ED testimony delivered by Federal Reserve Governor Lyle E . Gramley on July 8 before the subcommittee on monopolies and commercial law of the House Committee on the Judiciary gives strong credence to the belief that small banks will survive the current changes taking place, despite dire predictions to the contrary from other sources. Governor Gramley said “The record of the past two decades and longer . . . attests to the basic strength of our nation’s depository institutions and their capacity to adapt to a changing environment.” In his testimony he also said: “ Further indication of the ability of commercial banks to compete can be found in the history of their earnings. Rates of return on assets and equity capital for the banking industry are presented in the accompanying table. For the industry as a whole, profitability has risen over the past thirty years. Evidently, the commer cial banking system has coped quite successfully with innovation and change. “ The earnings experience of all banks or thrifts, however, need not reflect the problems of smaller institutions. Data for these smaller institutions is more difficult to obtain. This table, however, shows earnings of small banks over the past decade. Earnings were higher for the small banks in the second half of the decade than in the first, and higher, also, than for large banks. Indeed, even ratios of earnings to capital for small banks exceed those for large banks, despite the fact that ratios of capital to assets of small banks are roughly double those of larger banks. “There is other evidence suppor ting the view that small banks can survive in the current environment. For 1980, a detailed sample of small banks shows that, in 156 of 265 Standard Metropolitan Statistical Areas, the smallest size category of banks in each area earned a higher average return on assets than the largest size group in each area. Thus even in these large and highly competitive urban markets, small banks have been competing effective lyHow is it possible for a small bank, with (say) less than $100 million of assets, to hold its own against multi-billion dollar banks? P art of the answer is that there are relatively few economies of large scale operations in commercial banking. That conclusion has emerged from a number of careful empirical studies. “ In addition, small banks offer many of the unique services of the specialty shop. A customer may be able to talk directly to the senior bank officers, rather than to a branch manager who has limited decision making power. Moreover, if a customer requires a specialized bank service that cannot be supplied by the small bank directly, arrangements can often be made to provide it Five-Year Averages of Commercial Bank Profit Data Ratio of Ratio of Net Income Net Income to Years to Total Assets Total Equity Capital All Banks Small Banks All Banks Small Banks 1951-55 0.58 8.03 1956-60 0.68 8.50 1961-65 0.72 8.80 1966-70 0.78 10.80 1971-75 0.83 0.95 12.36 12.52 1976-80 0.78 1.06 12.56 13.16 CALL ON THE “PERFORM ANCE TEAM 99 where com m on transactions are handled uncomm only we//. FIRSTNATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis " O p p o r tu n ity T a IIt « I \J i 1 ■* 9 r r Robert Scott, O O O Correspondent Banker BANKERS PARTICIPATING I LeasePlan.Inc. I 545 - 31st Street Des Moines. Iowa 50312 R. L. “ DICK” SELLON through one of the small bank’s correspondents. “ I would hazard the guess that there will continue to be a substantial demand for the specialized services that small banks provide.” Referring to the recent mergers of non-financial institutions into con glomerates that sell Money Market Funds and other financial products, Mr. Gramley stated: “The success of recent financial conglomerates has yet to be proven. Can a salesperson in a brokerage office be as knowledgeable about money market funds, life insurance and real estate as he is about stocks and bonds? That is not clear. The specialist in each of these areas may have an advantage in information and experience. In addition, the commission system may orient the salesperson towards his major product, rather than other less remunerative lines. “ One important question is how to achieve an equitable environment for competition among commercial banks, thrift institutions, and other producers of financial services. The Don't gam ble when choosing o correspondent bonk. Come to the professionals. UNITED CENTRAL BANK OF DES MOINES. N A ■ MEMBER FDIC ■ (S1S) 245-71 ;1 AFFILIATED WITH UNITED CENTRAL BANCSHARES, INC. TOLL FREE NUMBER (800) 362-1615 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Board believes that legislation would be desirable authorizing the Federal Reserve to impose reserve require ments on those money market fund shares that serve as the functional equivalent of transaction balances, and to enforce a cleaner distinction between transaction balances and other liquid savings. In addition, we believe, the Federal Reserve should have the authority to define transactions accounts for purposes of reserve requirements so as to include the many new types of plans with transactions capability that may develop.” □ Ben Haller Purchases Malcolm Freeland’s Stock Editor Ben Haller, J r ., a 35-year veteran with the N orthwestern B anker , has purchased the stock of Publisher Malcolm Freeland, who has been with the magazine more than 34 years. The N orthwestern B anker also publishes the Weekly Newsletter, Iowa Bank Directory and Nebraska Bank Directory. Mr. Haller, a native of Omaha and a 1942 graduate of Creighton University there, joined the N orth western B anker staff October 30, 1945, after three years service in the Army Air Force. He was advanced to editor in July, 1954. In February, 1958, he and Mr. Freeland purchased the stock of the magazine from the late Clifford DePuy, who had owned the publication since his father’s death in 1912. Mr. Haller has been elected president and chief executive officer of the company and will continue as editor. Mr. Freeland, a native of Clarinda, joined the N orthwestern B anker staff in December, 1946, and was John Rigler IOWA . Iowa News The IB A has scheduled meetings the first week of August throughout the state to discuss the proposed purchase of the American Republic Plaza Building in Des Moines for new staff headquarters. The meeting schedule is as follows: Western Iowa • August 3 - Starlite Village, F t. Dodge. • August 4 - Farmers Trust & Savings Bank, Spencer • August 5 - Ida Grove Commun ity Hall, Ida Grove C o m e to us we’re first in Iowa becau se we put Iowa first* n e sM O in e s M named publisher in February, 1958. He is a 1943 graduate of Iowa State University, Ames. Mr. Freeland will continue actively with the N orth western B anker as a consultant, continuing to report conventions and make advertising contacts on behalf of the magazine.Divesting his share of ownership of the N orthwestern B anker will permit him to devote more time to Freeland Financial Service, Inc., a bank executive personnel placement business he has developed successfully in recent years. His office will be located at 246 Insurance Exchange Building, Des Moines. Mr. Haller also announced the appointment to the staff of Steve A. Burch, 36, with the title of associate publisher. His responsibilities in clude development of advertising and circulation for the No kihwestern B anker, as well as reporting and taking pictures at conventions. Mr. Burch is a native of F t. Dodge and attended the University of Iowa and Drake University, majoring in journalism and advertising. His 14 years of sales experience include two years with the Des Moines Register & Tribune, three years with KCCI-TV, four years operating his own advertising and public relations firm, and the past five years working in Iowa with a division of Martin Mariatte Corporation. □ M NATIONAL BAMK An Affiliate of Northwest Bancorporation Member FDIC Call (515) 245-3131 or toll-free (800) 362-2514 Carleton D. Beh Company Supplement to Northwestern Banker Newsletter 7-20-81 Division of E.F. Hutton & Company Inc. Investment Bankers/Financial Consultants NEW ISSUE SALEDATE: $1,800,000 CEDAR FALLS, IOWA July13,1981 MOODY’S: A1 General Obligation Bonds Dated: June 1,1981 Denomination: $5,000 Both principal and semiannual interest (June 1 and December 1, first coupon due on December 1,1981) payable at the office of the Treasurer, Cedar Falls, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXATION AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. MATURITIES $ 75,000 100,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 10. 00% June 1,1983 June 1,1984 J u n e l,1985 June 1,1986 J u n e l,1987 J u n e l,1988 J u n e l,1989 J u n e l,1990 9.75% J u n e l,1991 8.00 8.20 8.40 8.60 8.75 8.90 9.00 9.15 $150,000 9.30 150,000 150,000 150,000 150,000 9.45% J u n e l,1992* 9.60% J u n e l,1993* 9.75% J u n e l,1994* 9.90% J u n e l,1995* • 8.00% J u n e l,1996* 9.45 9.60 9.75 9.90 10.30 * Optional in inverse numerical order beginning June 1, 1991 at 102%. LEGALITYTO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS, DES MOINES, IOWA Cedar Falls Is located in Black Hawk County in northeastern Iowa, approximately 100 miles northeast of Des Moines and directly adjacent to Waterloo. The City is known as one of the fastest growing cities in Iowa. The Census figures have been as follows: 1950-14,334; 1960-21,195; 1970-32,964 and 1980-36,134. Cedar Falls is the home of the University of Northern Iowa, a four year liberal arts education college with an enrollment in excess of 10,000. Major Industrial employers located in Cedar Falls include: Clay Equipment Co. (barn equipment); H & H Machine Tool (press and stamping work); Processess, Doerfer Div. (tools, dies and machines); Viking Pump Div., Houdaille Ind. (castings and pumps) and Wayne Engineering Corp. (hoists, cranes & bodies). Transportation is provided by three railroads, two U.S. highways, two Iowa highways and an excellent network of paved county roads. In addition, all the transportation facilities of Waterloo, Iowa, are available Including two scheduled airlines. There are three banks located in Cedar Falls with total deposits as of December 31, 1980 in excess of $110,916,000. These bonds are being issued under the provisions of Chapter 384, Code of Iowa, 1981, as amended, to pay the costs of constructing street and sanitary sewer improvements, storm sewers and waterway improvements for the disposal of surface waters and protection from flooding, improvement of existing parks and acquiring equipment for the library and the finance department and for the equipping of the fire, police, sanitation, street and civil defense departments. In the opinion of counsel, these bonds are legal and binding general obligations of the City of Cedar Falls, Iowa, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal of and interest on the bonds without lim it as to rate or amount. FINANCIAL STATEMENT Actual value of taxable property, 1980 Assessed value of taxable property, 1980 Net direct debt, including this issue Total direct and overlapping debt Population, 1980Census: 36,134 $556,265,281 411,404,204 6,900,100 9,487,350 Net direct debt per capita: $190.96 Total debt per capita: 262.56 Tax collections have approximated 100.73% of taxes levied for the past four years. We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based Bonds of a particular maturity may or may not still be available or may now be availableat a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des M oine s B u ilding • Des M oines, Iowa 50309 • 515-288-2152 H ■HL m B sÊ M l l ^ Ü M K-- ' IP M P i-ViSiV- Ä ■ ■ I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 7-20-81 BANKERS SPECIAL MONEY BACK CANCER PLAN! (Now being used by many area banks and businesses) Developed for bankers, bank employees and directors, with a specially designed Depositor Program. For Your Staff: Benefits supplement the best medical coverages available. Helps cover those expenses not covered under base Medical and Major Medical. For Your Directors: Benefits can be provided as part of the fee structure. For Your Depositors: A program by which the bank may offer this fine coverage to depositors and generate income for the bank at the same time you are offering your depositors assistance. Available by com pany representatives. In enrollment, we do the work for you. Intensive Care Endorsement available, along with other options. This could save you thousands of dollars at Home, Office or Hospital. Underwritten by: Statesman Life Insurance Co., Des Moines, la. Vulcan Life Insurance Co., Birmingham, Ala. Not available in Wyoming, Montana, North Dakota Cash Value not available in Illinois, Minnesota, Oregon N O POSTAGE NECESSARY IF MAILED IN THE UNITED STATES BUSINESS REPLY M AIL FIRST CLASS PERMIT N O . 6 5 8 4 DES M O INES. IO W A POSTAGE WILL BE PAID BY ADDRESSEE CANCER m W C A Bankers Special Program 3116 East 14th Street Des Moines, Iowa 50316 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THIS CANCER POLICY WILL PROVIDE: protection and peace of mind. BENEFITS SH O W N ARE O N EACH INSURED PERSON — POLICY FORM 4 85 -A H Hospital Room ..................... .incurred charges to Medicines — Laboratory Tests $ 1 2 0 .0 0 $ 9 0 .0 0 Per day — First 12 days Per day thereafter No Maxim um * Lodging Benefit . . . $ 1 5 .0 0 Per Day — While confined $2,700.00 Maximum For spouses lodging, or your convenience items. N u rs in g ................................... .incurred charges to $ 7 2 .0 0 Per day — Hom e — Hospital R.N. or L.P.N. Doctor Visits ......................... incurred charges to $ 2 0 .0 0 Blood &. p la s m a ................... .incurred charges to And Processing Procedures $ 1 ,2 0 0 .0 0 $ 1 0 ,0 0 0 .0 0 A m b u lan ce............................. incurred charges to $ 1 0 0 .0 0 60 Days Maximum Per day in hospital No Maximum For all cancer — except For Leukemia To and from Hospital Per confinement No Maximum Transportation ..................... incurred charges to $ 3 ,0 0 0 .0 0 204 A n e s th e s ia ............................. incurred charges to $ 3 0 0 .0 0 Chem otherapy ..................... incurred charges to And Processing Procedures $ 5 ,0 0 0 .0 0 Radiation Therapy — Cobalt In-O ut of hospital Surgery ................................... $ 2 ,0 0 0 .0 0 Each operation per schedule In Hospital — Clinic — Doctors Office Prescription Drugs incurred charges to $ 2 5 0 .0 0 EXTRA CASH B O N U S ........... Commercial travel Per mile for private auto Each operation In-O ut of hospital (1 0 0 mile minimum) $ 60.00 for skin operation No Maximum For prescribed drugs and medicines You will also receive a cash payment equal to 10% of your total claim in addition to the above benefits. ■"CONFINEMENTS EXCEEDING 60 DAYS No lifetim e dollar maximums — no time limits. For hospital confinements exceeding 6 0 days, you will receive 100% of Reasonable and Customary Hospital Charges for care and treatm ent until discharged from hospital, up to $ 11,022 per month (including 10% Benefit). IF C A N C ER D O E S N O T ST R IK E . . . Y O U R PREM IU M S REFUNDED AT LAST, A CANCER PO LICY THAT GUARANTEES “SIC K O R WELL” — YO U COLLECT! At the end of the fifth year, your cash value will begin to build up in the policy. Naturally, the longer you keep the policy in forcé, the more money you’ll accumulate. End of Policy Year Cash Value Available End of Policy Year Cash Value Available 5 10 17% 42% 15 20 25 63% 82% 100% Information Request Yes □ Employee Program — N o _________ of em ployees Yes □ Directors’ Program Yes □ Depositors’ Program Please print: Nam e o f B ank______________________________________________ _______ Your N a m e __________ A ddress_______ ___________________________________________________ C ity ------- -- -------------------------------------------------- S ta te _____________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis T itle _________________ Z ip ________________ Phone our Bond Department For up-to-the-minute, accurate information 3 u Tom Steffens John Henderson Vice President Tony Paugoulatos Vice President 234-2462 Asst. Vice President Asst.Vice President Bond Officer 234-2463 234-2647 234-2673 (ggjr C ommerce Ban k of Kansas city ________ • August 6 - Atlantic Country Club, Atlantic • August 7 - Osceola Country Club, Osceola Eastern Iowa • August 3 - Charles City Country Club, Charles City • August 4 - Fireside Inn, Toledo • August 5 - Henry Co. Savings Bank, M t. Pleasant • August 6 - Manchester Golf & Country Club, Manchester All meetings will start at 3:00 p.m. DAYTON: Iowa State Bank & Trust Co. has been sold to Maurice E . Stark, Claire Carlson, Gilbert Stanek and William McCarten. All are directors of the State Bank of Fort Dodge. The announcement was made by State Bank President Richard Smith. Majority shareholder has been Dr. Eric Swanson, Fort Dodge eye specialist. The sale is subject to regulatory approval. M ELV IN : John W . Benz, 61, president and director of the Melvin Savings Bank, died recently after a lengthy illness of cancer. He had been with the bank for 40 years. Minnesota News M em b er FDIC Nebraska News 234-2674 10th and W alnut Dave WRtenborn Bond Representative 234-2691 (816) 234-2000 later. South Dakota News HURON: Lynn Schneider has been appointed vice president of the Farmers and Merchants Bank. Mr. Schneider has been with the Huron Production Credit Association since 1971. Wyoming News Bankers Service LOAN ACTIVITY BULLETIN Who: names of all debtors In the county recorded during the period What: name of secured party When: the date the loan was filed with the Secretary of State Where: location where loan made f a s t s e r v ic e Professionally Installed closed circuit television and 35mm auto cameras. A u to m a tic tape dialers and police panel connection are available to suit your needs. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rusty Reese ARCADIA: Kenneth Krahulik has been named president of the Arcadia C H EY EN N E: Dennis L. Mulholland State Bank. He was most recently has been promoted to vice presidentwith the Saline State Bank in Wilbur. real estate loans at First Wyoming Mr. Krahulik succeeds Allan M as Bank, N .A . G REEN RIV ER : Garth Gibson has ters, who has retired. LINCOLN: First National Bank will been named president of First hold its annual Correspondent National Bank, Roy Dinsdale, Banking Conference September 18-19 chairman, has announced. Mr. at the Lincoln Hilton. The usual Gibson joined First National in June Saturday morning ag conference will 1980 as vice president and chief executive officer. conclude in time for registrants and families to have luncheon at the hotel before attending the NebraskaFlorida State football game, accord ing to Gary Bieck, vice president and head of the correspondent bank division. Details will be released UPDATE YOUR ALARMS SECURITY SYSTEMS, INC. 3920 Delaware Des Moines, IA 50316 [515] 265-1161 1 M INNEAPO LIS: Fifth Northwest ern National Bank has announced the following promotions: Reuel Lund to senior vice president-loans; Randy Schouten to senior vice presidentadministrative; Christina Kennedy to vice president-human resources, and Steven Stensgaard to vice president. The Minnesota Bankers Associa tion’s Midwest Banking Institute will be held July 26-31 at the University of Minnesota in Morris. BANK PLACEMENT SPECIALISTS (Our 33rd year) Call experienced professionals to locate the right candidate for your vacancy. . . or the right “move-up” for yourself. CORPORATE RECRUITERS MIDWEST BANKING DIVISION 525 Commercial Tower 402/393-5515 Omaha, Nebraska 68124 Jim McLaughlin ? eXa u c r e c ° RDS S r c h , i - c. B Ä s«om ESSTAT.ONS0309 iiliS ASK STAN FARMER to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK PARTIAL LIST OF AVAILABLE POSITIONS How’s Your Handicap? If you are missing too many putts, you may need a strong right arm in your bank! Call Malcolm Freeland Freeland Financial Service, Inc. 246 Insurance Exchange Bldg. Des Moines, Iowa 50309 Phone 515/282-6462 When it comet to agriculture, banking and pe rson n e l. . . go to the specialists — go to EMPLOYER PAYS FEE AGRIcareers, Inc. P rogressive bankers pay us to find the people W ANT ADS they need. Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. Retail Finance Rep . . . IA / N E . $20-22,000 2 Ag Lending O fficers___ N D . $20-24,000 Ag Loan Officer/ Insurance IA . $15-20,000 Professional Farm Mgrs. ( 2 ) .........IA & I L . ......................................................$20-25,000 Ag Lending O ffic e r...........N E . $15-16,000 Sales & Mktg. R ep............. N Y . $20-25,000 Ask the ag banking specialists what’s available without cost or obligation. NORTHWESTERN BANKER 306-15th Street Des Moines, Iowa 50309 Phone 515/244-8163_______________ POSITION AVAILABLE EMPLOYMENT OPPORTUNITY— CEO for Northeast Nebraska Bank under $5 million. Must also be qualified in all areas of insurance and capable of managing and selling. Send resume and compensa tion requirements to file NBN, c /o Northwestern Banker. ______________________________ (PA) AG LOAN OFFICER for $10 million north central Iowa bank. Three to five years lending experience required. Degree preferred. Insurance and data processing experience helpful. Send resume and salary requirements to file NBX, c /o Northwestern Banker.______________________________________ (PA) SECOND PERSON: $10 million bank. Duties: operations, loans, & business development. Growth position. Prefer 3-5 yrs. experience. Many benefits. Contact John Gregg, Community Bank of Galesburg, 1380 N. Henderson, Galesburg, IL. 61401._______ (PA) CASHIER to cover entire operations department of $30 million plus bank. Auditing experience helpful to expand on current internal audit program. Northwest Montana location. Please send resume, with references to file NBT, Northwestern Banker, 306 1 5th Street, Des Moines, Iowa 50309. All resumes will be kept strictly confidential._____________________ (PA) OPENING FO R #2 OFFICER in $35 million bank in the Black Hills area of northeastern Wyoming. Position will include responsibilities in lending, management, and financial planning. Excellent benefits and salary commensurate with experience. Degree preferred. Send resume and salary requirements to: Donald J. Jording, President, First State Bank of Newcastle, Newcastle, Wyoming 82701 or phone 307-746-4411. _____________________________________________ (PA) OFFICER MANAGER in Iowa City Area. Three to five years operations and lending experience preferred. Should be marketing oriented. All inquiries kept confidential. Send resume and salary requirements to John W. Brown, Executive Vice President, uniBank & Trust, P.O. Box5842, Coralvilie, lowa52241. (PA) TRUST POSITIONS - If you would like to evaluate your career potential, my clients in the midwest have trust and investment opportunities in the $18 thousand to $50 thousand range. Clients pay our service charge and relocation. Call or write Gordon Mesley, Dunhill, Suite 1135, 730-2nd Avenue South, Minneapolis, MN 55402. Phone612/335-5461.___________________ (PA) PRESIDENT-CEO for $20 million bank in Nebraska small town. Minimum age 40— no maximum. Write file NBW , c /o Northwestern Banker.____________ (PA) Excellent opportunity for a senior loan officer in a $35 m illion bank close to metro area. A candidate should have supervisory knowledge in all lending areas, with heavy emphasis in commercial and agricultural credit. Knowledge of overall bank operations a plus. Write file NBV, c /o Northwestern Banker._____________(PA) BANK AGENCY seeking experienced m ulti-line insurance sales and service person. Lake Crystal National Agency, Inc. Phone (507) 726-6370. (PA) NEW HAMPTON. IA 50659 MASSENA. IA 50853 1 (515)394 3145 (712)779-3744 Coverage Coverage Coverage Coverage Coverage failure to PARTIAL LIST OF AVAILABLE APPLICANTS LOAN O F FIC E R -W ell versed in Instal, R E, Commc’l. ................................................................................. $18,000 BRANCH MGR - BA, 1 Vz yrs S & L exp...............$15,000 #2 MAN -8 yrs banking exp.................................. $28,000 VP CASHIER -1 4 yrs heavy operations............. $23,000 AG LENDER - Ag Bus Degree, 3 1/2 yrs e x p ___ $19,000 VP COMMERCIAL LOANS - 5 + yrs e x p ...........$32,000 ALL FEES COMPANY PAID. FOR FURTHER INFORMATION RESPONDIN CONFI DENCETO: Bank Division ROBERT HALF of Iowa, POSITIONS AVAILABLE Number Two Officer for $15 million Northern Illinois bank. Must have several years of ag lending experience..............................................................$27,000 Senior Officer with five or more years lending experience for Southern Minnesota bank........ $26,000 Installment Loan Officer for Western Wyoming bank ..................................................................................$16,500 Ag Loan Officer for Western North Dakota bank ........................................................................... Salary open Ag Loan Officer for Southern Illinois b a n k ___ $18,000 Operations Officer for Wyoming b a n k ............. $22,000 Executive Officer for$12 million Northern Illinois bank ..................................................................................$24,000 Write or phone Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee.________________________________________ WANT TO BÜY BANK WANTED. Financially secure Iowa family wants to purchase a bank. Would be agreeable to terms or contract. Reply In strict confidence. W rite file NBU, c /o Northwestern Banker.______________ (WTB) individual wants to acquire Iowa or Neb. bank. Contact in confidence: Mike Keim, 9916 Fieldcrest Drive, Omaha, NE 68114, phone 402/393-8160. [WTB] BANKS WANTED - Paying 1 Vz to 2Vi times book for controlling interest in profitable banks. Send details to file NBP, c /o Northwestern Banker, 306 Fifteenth Street, Des Moines, Iowa 50309.______________ (WTB) for the terminal for robbery of your customer for the bank money for interloper/spoofer losses for liability arising from transfer funds Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID FOR SALE Burroughs S-100 single pocket proof machine. Like new. W ill make excellent back-up machine. Ask for Marv or Arvon. Farmers Bank, Nebraska City, NE, phone (402) 873-5574._________________________ (FS) Six used teller windows; 1 used Herring-Hall-Marvin steel safe with 3 time locks; 1 portable teller. Contact Iowa State Savings Bank, Creston, Iowa 50801. Phone (515)782-6441._______________________________ (FS) Burroughs S-1000 12 pocket proof machine. Purchased new 1978. $5,500.00 Towner County State Bank, Cando, North Dakota. Phone701 -968-4421 .(FS) Two Brandt coin packagers, Model 747 and RCDHM; 2 Brandt Automatic Cashiers, Model 568; 2 GAF Microflsche Viewers, Model 7800. Telephone 515/421-1046.________________________________ (FS) One Docutel TT-300 ATM. Includes console, electronics and depository modules. Kent Schaefer, First Interstate Bank of Great Falls, Montana. Phone 406/761-1750.________________________________ (FS) NCR 7750-2211 12 pocket proof machine. Used 1 1/2 years excellent condition. State Savings Bank, Cantril, lowa52542. Phone(319)397-2401. (FS) NCR Postronic Magnetic Ledger Cards. Contact Data Business Equipment, 1228-2nd Avenue, Des Moines, IA 50314. Phone515/288-3000._________________ (FS) POSITIONS AVAILABLE TRUST INVESTMENT - manage pension fund investments for large midwestern trust company. Bank or insurance company experience preferred. CFA designation helpful. $30,000 AGRILOAN - $40MM bank heavy in cattle and feeder lot financing. Prefer5yrs. or more experience.$28,000 OPERATIONS - medium size rural bank needs seasoned operations officer. Prefer accounting degree and some data processing background. $30,000 SENIOR COM M ’L LOAN - manage portfolio for $60M M ag/com m ercial bank. Good administrator will move into EVP position in short ti me. $$Open CASHIER - second position in $20MM suburban bank. Prefer generalist from small bank although primary responsibilities will be operations and re ports.$22,000 Electronic Terminal Insurance Policy 1. 2. 3. 4. 5. VP LE N D IN G -D airy a + + ................................ $28,000 AG LENDER - 2 yrs e x p .........................................$23,000 INSTALLMENT LOAN - BA, 2 yrs Cons Loans. $18.000 AG LENDER - Ins licenses m u s t........................$20,000 COMMERCIAL LENDER- 3 yrs e x p .................. $23,000 R E LOAN O F FIC E R - 2 + yrs e x p ...................... $19,000 O PERATIO NS-1 -2 yrs exp ................................. $15,000 #2 POSITION - Ag Business b k g d ......................$27,000 TRUST - ERISA exp a m ust................................... $24,000 C E O -M ortgage b a n k in g ..................................... $60,000 fiUTOmfiTED SVSTEmS □F m jf u n c . 301 N. Ankeny Blvd., Suite 220 Ankeny, la 50021 515-964-1358 TRUST OFFICER - position requires employee benefit experience. Excellent opportunity for individual with 2-4 yrs. experience. $23,000 SECOND OFFICER - small community bank in resort area seeks commercial lender with good administra tive skills. $23,000 Salary history and resume’ requested. All inquiries confidential. TOM HAGAN & ASSOCIATES of Kansas City P.O. Box 12346,2024 Swift North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry S in ce l 970” Vol. 10 No. 13 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address [Form 3579], manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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