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Vol. 12 No. 14 Des Moines, Iowa Two Top Nebraska Banks Seek Merger PROPOSED merger that would A create a $1.78 billion asset hold ing company is being discussed by the two largest bank holding com panies in Nebraska. John D. Woods, chairman and chief executive officer of Omaha Na tional Corporation and its whollyowned subsidiary, Omaha National Bank, and William C. Smith, presi J.D. WOODS W.C. SMITH dent and chief executive officer of First National Lincoln Corp. and its wholly-owned subsidiary, First Na tional Bank & Trust Company of Lincoln, jointly announced July 19 their respective Boards have author ized further discussions to form a new Nebraska-based multi-bank holding company to acquire, through a consolidation of the two one-bank holding companies, the ownership of both Omaha National Bank and First National Bank & Trust Com pany of Lincoln, and their other sub sidiaries. Mr. Woods and Mr. Smith stated: “ There are no assurances that these discussions will result in any defin itive proposals. However, if an agreement is reached, approval of the Federal Reserve Board and a two-thirds favorable vote of the shareholders of both of the present holding companies would be re quired.“ Any consolidation would be on a no-premium basis. Shareholders of each of the existing holding com panies would receive stock in the new multi-bank holding company, which would be named Firstier, Inc. (pronounced First-teer'), based on a tax-free exchange at a ratio to be determined after a receipt of reports of independent financial consultants for each of the parties. Firstier would have a board of directors of an even number, with one-half of the di rectors being from the present Omaha holding company and the other one-half from the present Lin coln holding company. Mr. Woods would be chairman and chief ex ecutive officer and Mr. Smith would be president and chief operating of ficer. The two banks would be oper ated separately under their existing names and with their present direc tors and officers. The two executives stated: “ The bringing together of these two strong financial organizations should enable Firstier to better serve the communities of Omaha and Lincoln and the State of Nebras July 25,1983 ka as a whole. The increased finan cial strength would greatly enhance our ability to finance Nebraska businesses and agriculture as well as to develop expanded services for residential mortgage financing, in vestment services for individuals and businesses, and provide a sound base for future growth. We are confi dent that Firstier would be able to exert a cohesive influence to bring the two metropolitan communities and the State as a whole together in a common effort to better meet their combined credit demands and finan cial requirements.“ Until the 1983 Nebraska Legisla ture authorized multi-bank holding companies, Nebraska banks were unable to form companies of a size that would make them more competitve with out-of-state banking or ganizations such as the multi-bank holding companies of Minnesota, Iowa, Missouri and Colorado, and the national giants such as Amer ican Express, Sears, Citicorp, Bank of America and Merrill Lynch, all of whom have been increasingly active in soliciting Nebraska business. For mation of Firstier, Mr. Woods and Mr. Smith said, would provide the base for a larger and stronger Nebraska financial institution to compete favorably with these out of staters in serving most segments of the Nebraska economy. At June 30, 1983, the assets of Omaha National Corporation were $993,223,000 and First National Loan participation through us can help improve your bottom line For that reason, banks in Iowa depend on Correspondent Banker Dick Flesvig https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ♦ First Bank Saint Paul Member First Banki System Correspondent Banking Division 332 Minnesota Street Saint Paul, Minnesota 55101 (612)291-5577 2 Norwest Bank Des Moines, N.A. mmmmm If you would like to evaluate your career, my clients across the country have a wide range of needs in operations, lending, and trust. Salaries are in the $20-80,000 range. Clients pay our service charge. Call or write: Member FDIC MM'imm Teamwork: one of the reasons we're first in Iowa. Anna Belle Sheets Lincoln Corp.’s were $786,730,000, and shareholders’ equity was $71,130,000 and $58,367,000 respec tively. The proposed holding com pany would have pro-forma assets of $1,779,953,000. Deposits at 1982 year-end were $714,596,000 at Omaha National and $534,195,000 at First National Lincoln, for a total of $1,248,790,000. □ Iowa News BETTENDORF: Bettendorf Bank and Trust recently announced the appointments of Thelma Ehredt as vice president, cashier and manager of the State Street Office; Elaine Bartholome, vice president in retail banking, and Sue Willman, loan ser vicing and support officer. Ms. ASK DOUG KEIPER to make MNB work for you. Toll free 1- 800- 332-5991 Merchants ^ National Bank 151 Member F.D.I.C BANKING Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS A BANKS OF IOWA BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W alt Heyne, Dunhill of Fayetteville Box 1570, Rogers, Arkansas 72756 Phone: 501/636-8578 Cyndi Watkins Ehredt joined the bank in 1954. Both Ms. Bartholome and Ms. Willman have been with the Bettendorf bank since 1977. Michael Yanney. The application to purchase has been filed with the Federal Reserve Board. Mr. Yanney’s company owns three other Iowa banks—Nevada National, Valley State Bank at Rock Valley, and Se curity Savings Bank in Williams burg. BLAIRSTOWN: Richard G. Wedeking, 36, assistant vice president of Benton State Bank, died July 6 fol lowing a long illness. Mr. Wedeking joined the bank in January of 1981 and was appointed assistant vice president later that year. Prior to his affiliation with the bank he was an examiner in the small loan division of the Department of Banking. Mr. Wedeking became ill in February of this year. HOLSTEIN: Daniel B. Engler has been named president of the Hol stein State Bank, succeeding Wayne Hettinger who has been named pres ident of the Bethany Trust Com pany, Bethany, Mo. Mr. Engler had been serving as executive vice presi dent of Hawkeye Bank and Trust, Sibley. FOREST CITY: An agreement in principle has been signed by John Witmer, president of Forest City Ltd., which owns Forest City Bank & Trust Co., to sell the holding com pany and its bank to Rainwood Co. of Omaha, whose principal owner is WINTERSET: Farmers and Mer chants State Bank has announced the appointment of Robert C. Duff as assistant vice president, agricul tural loans. Mr. Duff formerly held a similar position with United Central Bank of Estherville. IOWA CITY: Luella J. Feldman was recently elected vice president of Iowa State Bank & Trust Com DUBUQUE: William D. McGeehan pany. Ms. Feldman has been with was elected president and a director the bank over 14 years. of American Trust & Savings Bank by directors at their July 15 meet SIOUX CITY: Daniel G. Augustine ing. He succeeds Christy Arm and Douglas Rice have been elected strong, who announced prior to the senior vice presidents at Security meeting his retirement following a National Bank. Mr. Augustine will 48-year banking career. Mr. McGee serve in bank opérations with re han has more than 22 years banking sponsibilities to include data pro experience in New Jersey and New cessing, bank operations, informa England states, most recently as tion systems and building manage principal in McGeehan Associates. ment. Mr. Rice joined the bank in Prior to that he was executive vice 1975 and was most recently pro president and director of The Bank moted to vice president and général of New Hampshire, N.A., Man auditor in 1980. He is in the finance department. chester. Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank «■ DES MOINES, IOWA 50304 A BANKS OF IOWA BANK M e m b e r FD IC CALL ON THE “PERFORMANCE TEAMI” where comm on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M S tre e t • L in c o ln . N ebraska 68501 • M em ber, F.D.I.C. Illinois News Nebraska News HUMBOLDT: John F. Kotouc, president of Home State Bank & Trust Company, has announced the appointment of Randal J. Burns as executive vice president and chief executive officer. OMAHA: Three appointments were recently announced at American Na tional Bank. Thomas H. Dunham was elected vice president-com mercial loan officer; James W. Burns was named an assistant vice president, and Kenneth L. Nelson an assistant cashier. Minnesota News ST. PAUL: A corporate name and symbol change has been announced by the Otto Bremer Company, effec tive August 15. On that date The Bremer Company will be renamed Bremer Financial Corporation and all 29 Bremer banks and the cor poration’s 37 bank-related business es, which include insurance agencies and ag credit companies, will be identified under one common name, “ First American.” The new symbol is an eagle in flight with the Bremer name placed within a blue square. Bremer employs aobut 1,200 per sons in 51 offices and has assets ex ceeding $1.3 billion. SHELLY: Parnell Thorson has been appointed executive vice president of the State Bank of Shelly. Since 1978, Mr. Thorson has been presi dent and general manager of the Lake Region Credit Union at Devils Lake, N.D. Ag Banking Personnel Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi dential. Employers pay us to hire the best. The Illinois Bankers Association board of directors recently approved the dates and locations for the 1983 Annual Meeting and the 1984 An nual Convention. The 1983 Annual Meeting will be held November 17 at the Holiday Inn O’Hare Kennedy, in conjunction with the IBA Bank Management Conference. At this time election of association officers will be held along with other business the board determines necessary. The 1984 Annual Convention will be held June 13-15 in Peoria. The Hotel Pere Marquette will serve as convention headquarters, with all meetings, general sessions and ex hibits to be located in the Peoria Convention Center. CHICAGO: On July 8, Union Na tional Bank of Chicago was closed by Doyle Arnold, Acting Comptrol ler of the Currency, and the FDIC was named receiver. An attempt to arrange a merger of the failed bank was unsuccessful, requiring the FDIC to pay off depositors up to the insurance limit. The FDIC elected to make insured deposits available to their owners by transferring their accounts to Seaway National Bank in Chicago, with the sole office of the closed bank reopening July 11 as a facility of Seaway National. This re presented the first use of a pro cedure authorized by Section 11 (f) of the Federal Deposit Insurance Act. Insured deposits in Union National amounted to $23.5 million in 13,400 accounts. Approximately $1.5 mil lion of the bank’s deposits exceeded the insurance limit of $100,000. The FDIC Board indicated that if the payment of insured deposits czdfoCdz% an d czdhioaLatz± Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 D o n a l d E. H o l d e r , Principal through a transfer of accounts to another bank satisfactorily mini mizes disruption of the bank’s cus tomers and to the community, the procedure may be used in future deposit payoffs. South Dakota News SIOUX FALLS: First Bank of South Dakota recently elected one officer and advanced four others. Steve Gerlach was named vice presi dent, Sioux Falls; Russ Stone was named president, Presho; Victor Harwood was named vice president, Rapid City; Loren Podoll was named vice president and Tim Carr was elected agricultural loan officer, Aberdeen, and E. Norman Kostboth was named vice president, Get tysburg. TORONTO: Harold Heidemann joined the Bank of Toronto in its agricultural loan department. Mr. Heidemann formerly was with Uni ted National Bank in Castlewood. YANKTON: L.B. “ Bernie” Moore has been named vice president and manager of the United Natinal Bank in Yankton, announced Hurley Wil son, president. Mr. Moore’s banking career has included positions as chief executive officer for Dakota County State Bank of South Sioux City, Neb., and vice president for Columbia Heights State Bank in Minnesota. An important new profit center for your bank: Contact: Leroy Bell or ■ Linda: 515/394-5827 Jeannie: 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 I Massena, Iowa 50853 3011G4REH&, INC. J THE ORIGINAL AGRICULTURAL RECRUITER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis a com pu terized local billing/credit service Milt Hennick 31 9 -2 9 1 -5 4 1 2 N a tio n a l B a n k o f W a te rlo o 315 East 5th St. • Waterloo, IA 50704 ,MmoerM ^ Syslemrac 4 POSITION AVAILABLE AUDIT AND COMPLIANCE OFFICER fo r $60 million south east Iowa bank; some personnel duties. Salary commen surate w ith experience, plus excellent benefits. Send resume, salary history and requirements to file UBP, c/o Northwestern Banker. (PA) AG LENDING AND OPERATIONS for Iowa bank. Number two position. Several years lending experience required. Real estate, insurance, and computer experience a plus. Salary commensurate with experience. Send resume and salary history in strict confidence to file UBI, c/o North western Banker. (PA) AG LENDER for central Iowa bank. Several years lending experience desirable. Operations and/or computer exper ience a plus. Send resume and salary history in strict con fidence. Salary commensurate with experience. Write file UBH, c/o Northwestern Banker. (PA) Progressive $51 million central Iowa independent bank has an opening for second person in AGRI-LENDING DEPARTMENT. Installment lending experience beneficial. Salary compensated with experience. Write file UBJ, c/o Northwestern Banker. (PA) First National Bank of Clarion is interviewing for the posi tion of COMMERCIAL LOAN OFFICER. Need strong ex perience in agricultural lending. Send resume to Mr. R.B. Bartholomaus, c/o First National Bank of Clarion, P.O. Box 268, Clarion, la. 50525. (PA) INSURANCE SALES MANAGER—At least two years banking experience desired - not necessary. Base salary plus commission. Send resume to Frank Osowski/EVP, Na tional Bank of Canby, P.O. Box 70, Canby, MN 56220. (PA) MARKETING SALES PERSON— Knowledge of bank products and sales oriented essential. Marketing experience helpful. Outside calling required. Salary plus commission. Write file UBL, c/o Northwestern Banker. (PA) Locally owned independent bankseeking SENIOR LOAN OFFICER. Experience in ag and commercial lending. Op portunity for professional growth. Send resume and salary history to file UBO, c/o Northwestern Banker. (PA) The National Bank of Waterloo, Iowa, has opening for a CORRESPONDENT BANK OFFICER. Need strong exper ience in lending and operations. Send resume to Diane Good, National Bank of Waterloo, 100 E. Park Ave., Waterloo, Iowa 50704.__________________________________(PA) POSITIONS AVAILABLE BANK BRANCH MANAGER A major eastern Iowa bank has an immediate re quirement for an individual to assume responsibil ity for the management of a full service branch o f fice. The successful candidate is fam iliar with consumer lending, w ill have had previous man agement level responsibility in a financial institu tion and can demonstrate the ability to handle the operation, profitability and marketing aspects of this position. Please forward a resume, w ith earn ings history, in complete confidence to: File UBK, c/o Northwestern Banker. (PA) POSITION WANTED LOAN OFFICER—eight years experience. Assistant vice president level. Desires relocation. Recent commercial lend ing emphasis. Write file UBN, c/o Northwestern Banker. (PW) EXECUTIVE BANK RECRUITING Why Not a Higher Paying Position? Call us and lets talk about your banking career. R.E.B. & Associates Executive Search Consultants 13625 C. St., Omaha, Nebraska 68144 Phone: 402/333-8248 or 333-6604 SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 MURPHY TRUCK & TRAILER SALES 15-5th Ave. S.E. 515/456-2511 HAMPTON, IOWA 50441 POSITIONS AVAILABLE MUNICIPAL BOND TRADER All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma Three PRESIDENT positions in banks of $5mm, $30mm, and $10mm. Our fast growing Bond Department has an im mediate need for a head trader and underwriter to help us maximize our potential. We offer a good salary and bonus plan and excellent benefits. This is an excellent opportunity for an experienced muni-trader to run their own department. Call Jan Nolander at (612) 341-6578 for more information. Four ASSISTANT VICE PRESIDENT, COMMERCIAL, posi tions in city. Three AGRICULTURAL LENDER positions, all in small towns, one suburban. One CREDIT ANALYST, one HEAD OF CREDIT DEPART MENT, both city. WIRE TRANSFER position, SAFE KEEPING/TRADING/ CASHIER both city. Positions available change as more openings become avail able or as positions are filled. If you are interested in making an advancement or change in your present situation, as a candidate registered w ith me, you w ill be informed as posi tions come available that would appeal to you based on what YOU want In a bank, in salary, in location, and in size of town or city, i do not reveal your name to a client bank un til you are interested in interviewing. Eighteen years of banking service as President of both rural and metropolitan banks enables me to find the right bank ing environment for you. Phone or send resume to: Don W. Schooler, 901 A. West Jackson, Ozark, Missouri 65721. Phone (417) 485-6020. ex)n <Schooler T AND IP ASSOCIATES "Successful Banking is Quality Personnel" ______________ Banking Employment Service_____________ Senior Ag Lender w ith college degree and minimum of 5 years bank lending experience needed by major midwest bank. Some travel. ..................................... Salary to $40,000 Commercial Lender for multi-bank holding company in bank located in city over 100,000. Requires 3 or more years bank lending experience............................. Salary to $30,000 Ag Lender w ith sales and promotional ability for bank in outstanding northwest Iowa com m unity of 3,000. Requires m aturity......................................................... Salary to $28,000 Ag Lender for central Iowa bank. Requires 3 or more years experience in a com m unity bank...............Salary to $26,000 Sales/Operatlons person for major bank supplier. Quad cities location. Car furnished..................... Salary to $30,000 W rite or call Malcolm Freeland, Freeland Financial Ser vice, Inc., 1032 Carriers Bldg., Des Moines, la. 50309. Phone 515/282-6462. Employer pays fee. TOWN HOMES FOR SALE At Pre-Construction Prices With 121/2% * Financing Available D W AYN E SM ITH Paradise Properties B ox S Dillon, Colorado 80435 Phone 1-800-922-2590 •Subject To Change $10 million east central Iowa bank needs AG LENDING OFFICER. 2 to 3 year banking or equivalent experience. Write file UBM, c/o Northwestern Banker. (PA) Two AUDITOR positions, one in small town, one in city. Commercial Lender to head commercial loan department and supervise installm ents in $60 m illion bank. Requires 5 or more years bank lending experience... Salary to $40,000 REPOSSESSIONS We are professional truck people w ith over 30 years experience dealing w ith repossessed trucks, semi tractors and trailers. No obligation for our advice. Three OPERATIONS positions in banks from $20mm to $200mm. Number Two Person for $30 m illion com m unity bank. Re quires ag background and proven executive ability. .Salary to $45,000 Commercial Lender for com m unity bank in town o f 15,000. Requires 5 or more years experience in a bank of at least $40 m illion..................................................... Salary to $35,000 THe National Bank of Waterloo has opening for an AUD ITOR. Need CPA plus two to three years audit experience. Banking experience would be helpful. If interested, please send resume to Diane Good, National Bank of Waterloo, 100 E. Park Ave., Waterloo, Iowa 50704. (PA) Seven COMMERCIAL LOAN OFFICER positions in banks ranging in size from $25mm to large Metro banks. Commercial Lender for $300 m illion bank in Upper Midwest. Requires college degree and demonstrated lend ing ability...............................................................Salary open F&M MARQUETTE NATIONAL BANK Sixth and Marquette Minneapolis, MN 55480 Affirmative Action Employer (PA) BANKERS AVAILABLE CEO w ith proven high performance record in community bank seeks new opportunity......................... Salary $45,000 Commercial Lenders w ith experience ranging from three to 20 years.................................................. Salary to $50,000 Senior Ag Lenders w ith experience ranging from 5 to 20 years............................................................Salary to $40,000 Junior Ag Lenders w ith one to five years experience. ..................................................................... Salary to $25,000 Administrative Officers w ith major banking experience. ..................................................................... Salary to $50,000 Installment Lenders w ith over five years banking ex perience......................................................Salary to $25,000 Operations people w ith over five years experience............. ..................................................................... Salary to $30,000 If you are considering an additional officer, we have dozens of qualified applicants listed in most job cate gories. W rite or call Malcolm Freeland c/o Freeland Finan cial Services, Inc., 1032 Carriers Bldg., Des Moines, IA 50309. Phone 515/282-6462. Employer pays reasonable fee. Buy * Sell * Lease All IBM Systems and Peripherals We specialize in Banking Equipment Immediate Availability Guaranteed M/A 1255-1, II, III S/4300 1419-1 S/34, 38 3614-All Models S/3600 3624-All Models S/4700 NCR 1780 Diebold 910 Contact: Tom Garlie Cj |Í¡i|RiSsss~. A s s o c ia te d C o m p u te rs , Inc. P.O. Box 120 • Rogers, M N 55374-0120 • (612) 428-2285 POSITIONS AVAILABLE AGRILOAN—manage Ag department in $50MM communi ty bank. Prefer degree and 4 yrs. + experience. $28K COMMERCIAL LOAN— large suburban bank affiliated w ith multi-bank holding company seeks addition to staff. W ill supervise junior officers. $36K INSTAL. LOAN—handle all Consumer loans and some Commercial lines for $25MM com m unity bank in central Missouri. $20K OPERATIONS OFFICER—responsibility fo r all operational departments plus regulatory reports. $55MM bank. $32K PRESIDENT—medium size com m unity bank needs strong CEO w ith Commercial and Ag background. Degree de sired. Open REAL ESTATE LOAN—generalist Real Estate loan back ground and some experience w ith secondary market. Man agement position. $30K Resume' and salary inform ation requested. TOM HAGAN & ASSOCIATES of Kansas City 2024 Sw ift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 No. 14 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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