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A B A A g Summit Consensus Calls for Balanced Budget by Spending Cuts banking lead ers from around the nation met in Des Moines July 12 with A B A and federal farm officials to analyze the worsening farm situation. The m eeting was closed to the press to encourage freer expression o f opin ion and to discuss with peers the confidential status o f many ag cus tom ers and banks alike. A B A issued this consensus statement follow ing that meeting: “ Farming has run into serious problem s. Our analysis, based on re ports from some 22 states, including those that have been hit hardest, is that the depth o f the problem varies widely and dramatically, ranging from a m atter o f concern to a matter o f crisis in some cases. The hardesthit states are Illinois, Iowa, Min nesota, M issouri and Nebraska. These problem s go beyond farming and weaken agri-business and many Main Street businesses and commu nities. “ The fundam ental econ om ic source o f farm difficulties is the federal deficit, which keeps the cost o f money far too high. Several other factors have com bined to bring farm difficulties to a head: extrem ely poor weather, spiralling farm input costs, depressed com m odity prices, embar goes, declining land values and the A g r ic u l t u r a l July 23,1984 Des Moines, Iowa Vol. 13 No. 14 fallout from tw o decades o f infla tion. “ Government loan and subsidy program s have not. rem oved the fun damental sources o f the farm prob lem, nor is more government spend ing likely to do so. The best medicine government could provide would be balanced budgets — balanced by spending cuts, not by tax increases. “ In many cases, substantial vol untary restructuring o f assets and o f farm debts will be necessary and, in some cases, farm operations will have to be liquidated. The private sector, working with government agencies, can handle the needed re structuring. Fm HA should be used more efficiently, and the new A p proved Lender Program offers an avenue in that direction. “ Overall, bankers remain deter mined to work with any farm custo mer who has a future. T oday’s great est need is for econom ic stability and for the time required to allow m ethodical debt and asset restruc turing. “ In that connection, A B A ’s A gri cultural Bankers D ivision welcomes the U.S. Department o f Agricul ture’s call for a join t public-private sector program to offer farm lenders and borrowers information on all the options available to them and to back borrowers up with the best possible farm management advice. * * # S reported in the July 2 Weekly IB A A ag leaders met in Omaha June 13 and gave sup port to a program “ to authorize $1 billion o f additional federal (FmHA) guarantees for loans made by com mercial lenders to existing farmers for farm production and debt refi nancing purposes.” IB A A Execu tive D irector Kenneth Guenther wrote FDIC Chairman W illiam Isaac June 20 to tell him that “ based upon firsthand reports o f these bankers, it is clear that any direction which your agency head quarters is giving to your loan ex aminers to exercise restraint in the classification o f agricultural credits as problem loans is not getting down to the examiners level. (They) re ported that they could detect no evi dence o f change toward a more ac com m odating stance by the exami ners.” Mr. Guenther stated further there were two aspects o f loan classifica tion singled out as “ particularly troublesom e by bankers. First, the examiners continue to classify loans in problem categories based upon cash flow even where the collateral securing the loan is more than ade quate... Secondly, several bankers re ported that it is virtually impossi- A Newsletter, ASK TERRY MARTIN to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank isi Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A ‘BANKS OF IOWA' BANK Norwest Bank Des Moines, N.A. C a ll (515) 245-3131 o r toll-free (800) 362-2514 Member FDIC Y e a rn work: one of the reasons w e're first in Iow a. Dennis Nahnsen J a n T ow n sen d dent o f the Iowa Independent Bank ers in 1979-80. KEYSTONE: Roland A . Hellwig, chairm an o f K eystone Savings Bank, retired in June after 39 years o f service. Mr. H ellwig joined the bank in 1945, was named executive vice president and CEO in 1957 and was elected president in 1970. He held that position until 1982 when he was named chairman. K N O XVILLE: The Community Na tional Bank & Trust Co. o f Knox in Des M oines. John M oye, partner in the Den ville recently prom oted Robert D. ver, Colo., law firm o f Head, M oye, Grote to senior vice president and Giles & O ’Keefe, will present the Steve Johnson to assistant loan offi workshop which prom ises to be very cer. inform ative. The workshop will run from 8:00 - 4:30. Registration can be LEG RAN D : Citizens Savings Bank made through the IB A in Des will be holding its Third Annual G olf D ay August 15 at the Oakland M oines, attention Barb Lowe. Acres G olf Course, west o f Grinnell COUNCIL BLUFFS: First National on U.S. Highway 6. Shotgun start is Bank has announced the prom otion set for 12:00 noon. The 18-hole golf o f Lee W icht to senior vice presi outing will be follow ed by cocktails dent; Catherine Ehlinger and Char from 5-6:00 p.m. and a prime rib din lene Martin to assistant vice presi ner at 6:00. Cost for the day is $30 dent, and Debra Debbaut to opera per person; $12.50 if you don’t plan tions officer. Mr. W icht joined the to golf. For reservations contact the bank in 1983 and previously spent bank by August 1. ten years with Omaha National Bank, Neb. Ms. Ehlinger was also SHENANDOAH: Security Trust & Savings Bank will celebrate its 75th prom oted to controller. Anniversary on July 29 with an IN D IAN O LA: D ick Buxton, 48, open house from 1-4:00 p.m. Securi president o f Peoples Trust & Sav ty Trust & Savings has been in oper Iowa News ings Bank since 1972, died July 16 ation since January 7, 1909. A Loan Docum entation W ork at Iowa M ethodist M edical Center shop, sponsored by the IB A , will be follow ing an extended illness with SIO U X CITY: Dennis A . Nahnsen held August 14 at the Savery Hotel cancer. Mr. Buxton served as presi has been appointed vice president and head o f correspondent banking and ag lending at Security National Bank. He resigned last week as vice president in the financial institu Contact: tions department at Norwest Bank Des Moines to accept the new ap Leroy Bell or pointment. ble, short o f liquidation, to get a problem loan classification removed once it is instituted, regardless o f the progress that is subsequently made on the loan.” Robert V. Shumway, FDIC direc tor o f examinations responded on July 5 that “ we ask our examiners to be reasonable, realistic and objec tive in evaluating farm credits; we do not ask them to lower standards and overlook weak credits since do ing such would be an abrogation o f the FD IC’s statutory responsibility. And, as you will note from the at tachments, all classifications are subject to at least one layer of review, and in the case o f problem banks, two independent reviews are accorded.” □ An important new profit center for your bank: ■ a com puterized local billing/credit service Milt Hennick 319-291-5412 National Bank of Waterloo 315 East 5th St. •Waterloo, IA 50704 UemMrFMM^ Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank if. DES MOINES. IOWA 50304 A BANKS OF IOWA BANK Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis S,slmFDIC Nebraska News LINCOLN: Mark J. M atthes has been elected vice president and op erations manager in the administra tive services division o f First Na tional Bank & Trust Company of Lincoln. Mr. M atthes joined the bank in 1974 and has served as as sistant vice president since 1982. COZAD: Les Petersen has been ap pointed vice president o f Cozad State Bank and Trust Co. He pre viously served 12 years as assistant vice president o f Security State Bank in Hartley, Iowa. SCHUYLER: Dennis R. Kennedy has joined the W agner Banking 3 I” CALL ON THE “PERFORMANCE TEAM where com m on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. from Norwest Bank St. Paul, where he was vice president and manager o f the private banking division. Mr. Branham has been president o f the South St. Paul bank since 1975 and has been with Norwest Corporation since 1946. a Group in the newly created position o f chief credit officer. He will be headquartered at The Financial Cen ter in Schuyler. ^ VER D IG R E : E. Janies Haggart has resigned as president o f The Bank o f Verdigre and Trust Co. Mr. Hag gart, who has served in that capaci Illinois News ty since March, 1982, has accepted a position with another bank. The CH ICAG O : U nibancTrust Com bank further announced that Mar pany has prom oted five to vice presi lene Grim has accepted the position dent positions. They are: W illiam C. o f executive vice president and Dippel and Casey Orlowski, com cashier; Tony Tim son has been pro- m ercial banking division; Peter m oted to assistant vice president Stickler, finance division; Mara and will manage the loan depart Tom sons, investm ents division, and ment, and Jim Blessen retains his Daryl W aszak, trust division. position o f vice president and insur South Dakota News ance manager. HURON: George Nygaard has been elected president o f First Bank Hu Minnesota News ron. Mr. Nygaard joined the First LITCH FIELD : David Daeges has Bank System in 1969 in Fargo and been elected president and chief ex- in 1977 m oved to Southside M issou ecutive officer o f Norwest Bank la, m ost recently served as second Litchfield, succeeding Roger O. officer there. DeBoer, who is retiring July 31. Mr. M ARIO N : Farmers State Bank has DeBoer has been president o f the elected Harlan H. Smith as presi bank since transferring to Litchfield dent. He succeeds Bruce D. Ander from Silver Bay in 1965. He has son, who recently resigned. Mr. been with the Norwest organization Smith started his banking career 36 years. Mr. Daeges currently is with the bank in 1979 and in 1981 senior vice president at the Litch was prom oted to cashier and direc field bank. He transferred here in tor. Barclay B. Smith has also been 1979 from Norwest Bank Redwood prom oted to cashier. He joined the Falls. bank in M ay o f this year. 0 0 • • • ST. PAUL: Norwest Bank South St. Paul has named Keith J. Vegors, Jr. as president. He succeeds Robert S. Branham, who will assume the posi tion o f chairman. Mr. Vegors, also elected a director, joins the bank North Dakota News The Independent Com m unity Banks o f North Dakota will be hold ing a M ini-Topics Seminar August 14 at the Doublewood Ramada Inn, Advantage Bismarck. Topics to be covered are strategic planning; profit enhance ment planning; one bank holding com pany, and financial risk manage ment. M cGladrey, Hendrickson & Pul len, Minneapolis, will present the seminar. M AN D AN : W ayne N. Forgey has been named president o f First Southwest Bank o f Mandan. In ad dition, he will assume the manage ment responsibility o f First South west Bank in Carson. Mr. Forgey entered the banking business in 1967 in Gettysburg, where he was until 1976. He then was named vice president o f First Bank in Cando, where he was elected president in 1980. C o m e to the quality investment specialists in Nebraska and Iowa. u a e’re your ” best authorities for bond portfolio management recommendations. Our quality is your key to success. Competition in today’s banking game is fierce. To win, you need the advantage of strong correspondent banking services. For an impressive line up, get the score from Bernie Miller at American Trust & Savings Bank. Call 319/582-1841 for the advantages. Jeff Goble kl Dave Dickens Investment Banking Division UN ITED MISSOURI BANK Member FDIC Am crkanM Trust & Savings DanK The Banl^qf Opportunity https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Town Clock Plaza Dubuque, Iowa 52001 Member FDIC and FRS ^ 10th and Grand o P.O. Box 226 Kansas City, Missouri 64141 (816) 556-7200 BANKING OPPORTUNITIES AQ LOAN OFFICER, 100 mi from Minneapolis, solid rural community $56mm bank $25K + . COMM ERCIAL A N D . IN STALLM ENT LENDERS, Twin City area, 200 + mm bank Open. Ag Banking Positions Let us help you. Call the ag lending personnel specialists without cost or obligation. Confidential. Employers pay us to hire the best. AQ LOAN O FFICER, NW IA, career opportunity for advancement to CEO $25K. Financial Careers CEO for bank in midwest city of 35,000. Must know com mercial lending andhaveadministrative experience......... .................................................................................. Salary open CEO for Nebraska community bank. Excellent opportunity .................................................................................. Salary open Number Tw o person with strong ag lending background. Requires loan and collection ability in $50 million b a n k ... ....................................................................... Salary to $40,000 COMM ERCIAL LOAN O FFICER, metro SD, pro gressive organization $28K. IN STALLM ENT LOAN O FFICER, metro SD, to handle $8mm portfolio $25K. Investment Officer to handle $100 million bond portfolio and $100 million in trust assets.......................... Salary open All inquiries are held confidential. Contact: Cashier for $38 million Iowa bank. Must know regulations, make reports, handle item processing. . . Salary to $28,000 Barbara Rltta PROFESSIONAL RECRUITERS, INC 6818 Qrover Street Omaha, NE 68106 Phone 402/397-2888 Linda: 515/394-5827 New Hampton, la. 50659 Jean 515/263-9598 if no answer, 712/779-3567 Massena, Iowa 50853 aqn oraras, inc. J AQ BANKING SPECIALISTS POSITION AVA ILAB LE SENIOR COMM ERCIAL LOAN O FFICER — $100 million as set eastern Nebraska bank desires seasoned commercial loan officer to manage portfolio. Salary commensurate with experience. Contact 402/727-1100. (PA) BRANCH M ANAGER for north central Iowa bank located in a small town. Must have extensive ag loan experience and know operations. Send resume to file WBS, c/o North western Banker. (PA) FOR SA LE BURROUGHS 12-POCKET S3000 PROOF: L9000 with cassette & stacker; L6000; Ph. 608-725-5121, Jim Krogman, Badger State Bank, Cassville, Wl. (FS) Affirmative Action Employer (PA) G ENERAL SERVICES “ BUY/SELL IBM EQUIPMENT, NCR BANK EQUIPM ENT,” Omaha Computer Exchange 402-333-3203. (General) c^ H o LA ex u / i d c y Ç ± ± o c ia t£ .i Bank Consultants Specializing in Bank Acquisitions P.O. Box 450 515-232-0814 405 Main Ames, Iowa 50010 Donald E. Holder , Principal Commercial Lender for major Northern Iowa bank. Must have practical commercial experience.. .Salary low$30’s Ag Lender for community bank near Minnesota resort area. ..............................................................................Salary $30,000 Commercial Lender for large central Illinois bank. Must have three to five years experience in handling larger cred its.......................................... .................................Salary open Correspondent banker with ag degree and lending experi ence....................................................................... Salary open Write or call Malcolm Freeland or Cy Kirk at Freeland Financial Service, Inc., 1010 Equitable Building, Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. We have many other opportunities. BANKS FOR SALE BANK OWNERSHIP CHANGES —Our Specialty— COMM ERCIAL LENDING O FFICER — Immediate opening for an experienced commercial lender to fill number two spot in $16MM bank. Knowledge of bank operations useful but not required. Send resume and salary requirements to President, P.O. Box 5003, Great Falls, Montana 59403. (PA) F & M MARQUETTE NATIONAL BANK 6th & Marquette Minneapolis, MN 55480 Trust Officer to handle trust and estates and make up tax reports. Investment experience not required. Illinois loca tion ..................................................................... Salary $35,000 Operations person for $60 million midwest bank. Must have excellent expertise in data processing and conver sion .................................................................Salary to $30,000 MANAGER INSURANCE AGEN CY, volume 500,000. Must have all Minnesota licenses. Salary $20,000-30,000 base plus incentive on new sales and volume. Call James Sneer, president, Farmers State Bank, Mountain Lake, MN 507-427-2422. (PA) We are looking for someone with 3-5 years of com mercial lending experience to work in our corre spondent bank area. Additional requirements are correspondent banking experience (or extensive AG lending experience) and a college degree with at least 1 year of accounting. For more informa tion phone Mary Nerhaugen 612/341-6579. Ag Lender for Southern Illinois bank of $60 million. Bank or PCA experience. Must know cash flow and farm opera tion......................................................................... Salary open Number Tw o person for northern Iowa community bank. Must have potential to be EVP in three years. Salary to $35,000 Progressive bank seeking highly motivated professional meeting the following requirements: successful back ground in bank operations and supervision; proven perfor mance in customer service; knowledge of data processing and micro-computer application. Potential to assume management of all Retail Banking Divisions. Send resume and salary requirements to: file W BT, c/o Northwestern Banker. (PA) CORRESPONDENT BANKER Ag Lender for northern Iowa community bank. Must be self-starter with possibility of becoming second person in two years.............................................................. Salary open CEO for smaller Western Iowa community bank. Will con sider person who is currently number two------ Salary $35,000 SENIOR AQ LOAN O FFICER for a $50-million bank in Western Nebraska. Minimum of 5-10 years of ag lending experience, salary is dependent upon qualifications. Send resume to: Roger Weiss, P.O. Box 6, Ainsworth, Nebraska 69210.______________________________________________ (PA) LOAN O FFICER with solid experience in commercial and real estate loans needed to Join challenging management team in 15 million asset bank in SE Iowa. Excellent career opportunity with salary commensurate with experience. Send resume in confidence to Keokuk Savings Bank, Steven Bogard, Box 1008, Keokuk, IA 52632. (PA) Ag Lender for Northwest Iowa community bank. Must be experienced loan person and like small town environment ....................................................................... Salary to $29,000 DON VSICHOOLER Ir AND- Q j ) V) ASSOCIATES "Successful Banking is Quality Personnel" If you would like to be informed of positions as they become available and if you are interested in chang ing your present position, send your resume or phone Don Schooler, 417-882-2265, 2508 East Meadow, Springfield, Missouri 65804. Information on you will be kept confidential until you are inter ested in a specific position. Eighteen years of banking serving as President of rural and metropolitan banks enables me to match you, technically and personally, with the right bank ing environment. POSITIONS CURRENTLY AVAILABLE Missouri, Iowa Oklahoma, Kansas, Arkansas, Illinois, and Nebraska DIRECTOR, HUMAN RESOURCES, metro bank........... .................................................................$40,000350,000 PRESIDENT, CEO, $15,000,000 bank........................... ...........................................................$35,000 Minimum A S S IS TA N T C O N TR O LLER , population approx. 50,000.................................................. $20,000-$25,000 PRESIDENT, New Charter.............$50,000 Minimum INSTALLM ENT, #2, large bank, over 100,000 popula tion .................................................... $25,000 Minimum CO M M ER CIAL VICE PRESIDENT, $50-$100mm Bank, ideal to w n .............................$40,000 Minimum COMMERCIAL LENDER, $60mm bank, population approx. 35,000................................. $30,000 Minimum HEAD CASHIER, $35mm bank, high growth area . . . ...........................................................$25,000 Minimum PRESIDENT, $40mm bank, small town, excellent benefits............................................$40,000 Minimum SELLERS - if you already have a buyer for your stock and there is a question of whether or not it is a fair price - we can make an independent ap praisal. BUYERS - if you are about to purchase controll ing interest In a bank and there is a question of whether or not it is a fair price -we can make an in dependent appraisal. Those wishing to buy or sell - we can do the job for you if you are serious. CROW N BANKING SERVICES 325 W. Prospect Avenue Mt. Prospect, Illinois 60056 (312) 392-5151 POSITIONS AVAILABLE AGRi/COMMERCIAL LOAN - $25MM community bank affi liated with major holding company. Prefer degree and 2-3 yrs. bank lending experience...........................................$25K COM M ERCIAL LOAN - $150MM bank seeks commercial lender with 2 yrs. commercial lending experience for mid dle management opening................................................. $25K SECOND O FFICER - position requires superior agriloan skills and previous management experience. $40MM agoriented bank...... ............................................................$36K REAL ES TA TE LOAN - manage dept, for large suburban bank. Must be familiar with secondary market operations . ................................ $30K RETAIL BANKER • supervise consumer lending division and market consumer oriented services for $80MM subur ban bank...............................................................................$25K Several commercial loan opportunities in community banks in Iowa, Missouri, North Dakota and Nebraska. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 13 No 14 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fif teenth Street, Des Moines, Iowa 50309, (515) 244-8163. 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