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Vol. 15 No. 12 Des Moines, Iowa Gam Bill Goes into Senate Hopper ENATE Banking Committee S Chairman Jake Garn (R.-Utah) introduced his long-awaited compre hensive banking bill in the Senate on June 24 under the title, Deposit In surance Reform and Competitive Enhancement Act (S. 2592). He said, “I am introducing legislation to strengthen the federal deposit insur ance funds and reinforce public con fidence in our nation’s depository in stitutions.” The 382 page bill has 12 titles. Sen. Garn’s 1984 banking bill was approved overwhelmingly by the Senate that year, but was left in dry-dock by House Banking Com mittee Chairman Fernand St Ger main (D., R.I.) Title I would reduce from $500 million in assets to $250 million in assets the size of a failed bank or a group of banks within a holding company that FDIC could sell across state lines. FDIC also could sell a bank or bank holding company “in danger of closing” across state lines without waiting until the insti tution actually fails. Title II would strengthen the de posit insurance system. FDIC could level premiums based on risk, as it has urged. In addition, FDIC could establish a “bridge bank” to keep a failed bank open until a purchase and assumption or similar transac tion could be accomplished, at less FDIC expense. Title II also would establish a uniform depositor prefer- ence system for paying claims of any federally insured bank that fails. It would also strengthen FDIC’s en forcement powers against bank di rectors and others, insurance removal powers, and issuance of re straining orders. Title III bails out the FSLIC with a $25-$30 billion injection over the next five years to aid the present $6 billion level. Title IV would recognize the growing competition between banks and s&ls by easing rules on s&ls. Title V would enhance and streng then authorities of the FSLIC. Title VI expands bank and hold ing company powers. One would be securities affiliates for BHCs and s&l HCs. The Fed could grant non bank activities to BHCs if such acti vities were of a financial nature and permit banks to either adjust to technological innovations or new competitive products, with limita tions on insurance activities. Title VI also would define a bank as one with FDIC insurance, thus closing the non-bank bank loophole. It pre serves grandfather rights for cur rent non-bank banks by stipulating that they acquire a fading s&l or convert to an FSLIC institution within three years. Title VII makes technical changes in statutory provisions. Title V III makes certain credit union amendments designed to July 7,1986 strengthen the flexibility and en forcement authority of the National C redit U nion A d m in istratio n . (NCUA). Title IX creates a new Title X to the Consumer Credit Protection Act. Title X would require all deposi tory institutions to disclose their check-hold policies to consumers and would instruct the Federal Re serve Board to issue regulations de signed to speed up the now combersome and time-consuming process of returning a “bounced” check. Title XI would require all mailed credit card solicitations to disclose the annual percentage rate, annual fees and other charges, and the exis tence of any grace period that will apply to the card. It would require third-party credit cards to use an “average daily balance” method, or a method more favorable to the bor rower than average daily balance, as a balance calculating method, all de signed to encourage card holders to shop for cheaper credit terms. Title XII has miscellaneous pro visions. First is an exemption for funds of the regulators from Gramm-Rudman-Hollings seques tering and the Office of Budget and Management appointment. OMB currently is preventing FDIC and OCC from pursuing hiring and train ing of needed examiners, and ade quately paying them competitive salaries and fringes. Several other provisions of a differing nature are SPRENGER, JENNINGS AND DOLL Bill Sprenger Tom Jennings Outside Missouri call 1-800-821-2180 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Doug Doll In Missouri call 1-800-892-7100 «ut Com m erce Bank o f Kansas City Momhor CHIP • 2 Norwest Bank Des Moines, N.A. CaH-(515) 245-3131 or toll-free (800) 362-2514 Member FDIC NORWEST BANKS Teamwork: one of the reasons we're first in Iowa. John Cretzmeyer in Title XII. The administrative Committee of A B A ’s G overnm ent R elations Council met on June 24, the day Sen. Gam introduced his bill, and gave general support to S. 2592, while calling for certain changes. ABA tabbed the bill a “welcome first step.” The committee said provi sions requiring more disclosure on delayed funds availability and on credit card advertising are u n n e cessary. IBAA’s legislative committee is scheduled to meet Tuesday, July 8 to review the proposed bill. IBAA’s Washington Weekly Report said “The proposal is, in a sense, quite revolutionary, effecting a major overhaul of the banking laws the na- ASK JERRY TRUDO to make MNB work for you. Toll free 1-800-332-5991 Merchants National Bank 151 Member F.D.I.C. A ‘BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis anri carers,inc. AG BANKING PERSONNEL SPECIALISTS Jean 712/779-3567 Massena, la. 50853 Jay Nichols Sandl 515/394-5827 New Hampton, la. 50659 Confidential. Employer paid fees tion has come to know and, if not seventh Iowa bank to fail this year. always love, at least to trust. ’’ □ The FDIC accepted the bid of Carroll County Bancshares, Inc., with a Iowa News premium of $11,000 for the bank. The Iowa Bankers Association is The newly chartered state bank is sponsoring the 1986 semi-annual named Citizens State Bank. Carroll Bank Directors Seminar at three County Bancshares owns the Carroll Iowa locations July 22-24. The semi County State Bank, which has near nar will be held July 22 in Storm ly $60 million in assets. Deposits of Lake at The Siebens Forum; July 23 the failed bank that were turned in Des Moines at the Airport Hilton, over to the new bank totaled approx and July 24 in Cedar Rapids at the imately $42 million. Joe Gronstal, president of Carroll Holiday Inn. Cost in advance is $75 for members, $100 for subscribers County Bancshares, is acting presi and $125 for nonmembers. At the dent of the new bank. All staff mem bers of the failed bank, except Rod door, cost is $20 extra. Amlie, president, and Michael F. HARLAN: H. Rand Petersen, chair Newland, vice president, have been man and CEO of Shelby County retained. New board members in State Bank, and Gerald F. Lapke, clude Joe, John, Tom and Bernie president, State Bank of Ports Gronstal, and Barry Bruner, who is mouth, have announced the merger the Carroll County attorney. of the two banks under the Shelby County State Bank name. Merged SIOUX CENTER: First National assets exceed $90 million, with capi Bank has appointed Lawrence W. tal accounts exceeding $9.5 million. Jones as president and chief execu Mr. Lapke will become executive tive officer. Mr. Jones joined the vice president. Gerald L. Waltz, who bank in 1985 as loan portfolio man was executive vice president at ager. Portsmouth, will become a vice president of the merged bank. Both Nebraska News men will become members of the The Nebraska Supreme Court has merged board. Donald G. “Si” ruled that Initiative 300 is not un Mathiasen continues as president. constitutional and rejected FirsTier The bank retains offices in Ports Bank Omaha’s (Omaha National mouth, Elk Horn and Panama. Bank) charge that a lower court POCAHONTAS: The Commercial erred when it ruled that 300 prohi State Bank was declared insolvent bits ONB from holding farm and by Superintendent of Banking Wil ranch lands in trust for noncorpo liam R. Bernau on June 27, the rate and nonsyndicate beneficiaries. We’re Security for You At Security National Bank, w e’re people you can count on to handle all of your Correspondent Banking needs. So, start corresponding with us. We’re Security for you! SECUR ITY N A TIO N A L B A N K IN SIOUX CITY, IOWA. MKMBKR F.D .I.C. Ron Kiel Correspondent Banking Officer 712-277-6736 ATTENTION IOW A BANKERS Directors and Officers Limited Liability Insurance is now available coverage up to $100,000 Call or Write THE KANSAS BANKERS SURETY COMPANY 435 Kansas A venue P.O. Box 1654 To peka, Kansas 66601 1-913-234-2631 Serving bankers for more than 75 years https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 7-7-86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Order Your 1986 Iowa and Nebraska Bank Directories Today! O 1986 Bank Directories Now Available . . . Accurate, up-to-date information on every bank in the state, concerning: • Officers and Directors • Deposits, Loans, Assets and other figures • Other offices away from main bank • Addresses and phone numbers • Departments within the bank and their officers • Correspondent banks used r Send me_________ copies of the 1986 edition of the me. IOWA Bank Directory at $14.00 per copy. N E W 1 9 8 6 E D IT I O N S Send me_________ copies of the 1986 edition of the me. NEBRASKA Bank Directory at $9.00 per copy. Nebraska — Nearly 200 pages. Iowa — Over 300 pages. Our check is enclosed for $ .(add state tax: Iowa @ 4% Nebr. @ V/z %) Company Name CONVENIENT TO USE.Jies flat for reading or copying (pages 3 1/ 4 ” x 6 1/ 2 ” ). Officer Name _ P.O. Box or Street Address City and State Orders shipped by return mail https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Phone Area Code NORTHWESTERN BANKER 1535 Linden St., Suite 201 Dee Moines, Iowa 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Call on the “Experienced Professionals” Ready to m eet your correspondent needs. NBA P resident C.G. “ K elly” Holthus expressed concerns about the effect of the ruling on banks and their trust customers, adding, “ It is clear in my mind that the voters who approved Initaitive 300 in 1982 did not understand the devastating con sequences of the emotionally popu lar constitutional issue.” He called on Nebraskans to work together to place the issue on the ballot in November for a recall of Initiative 300. OMAHA: Three new department heads have been named by FirsTier Bank Omaha. John Clements has been appointed head of the bank’s investment department. He has been with the bank since 1968. John Nahas is head of the commercial lending department. He joined the bank in 1975. John Morris is head of the credit services department. He was previously with Norwest Corpo ration. Minnesota News OWATONNA: James E. Hankes ^EFirsTierBank Lincoln 13th & M Streets, Lincoln, Nebraska 68501 has been elected president of First Bank Owatonna. He joined the bank in 1984 and most recently served as vice president and senior loan offi cer. He succeeds Luther N. Magelssen, who has joined First Bank St. Cloud. ST. CLOUD: Luther N. Magelssen has been named president and chief executive officer of First Bank. He succeeds David Orlady. Mr. Magels sen has been with First Banks since 1956, most recently serving as presi dent of First Bank Owatonna. ST. PAUL: Donald G. Pullen has joined Midway National Bank as vice president, retail banking. He had been assistant vice president of consumer loans a t First Bank Lake. Montana News W.E. “Buster” Schreiber, presi dent of Mountain Bank in Whitefish was elected president of the Mon tana Bankers Association for 198687 at the annual convention held re cently at the Outlaw Inn, Kalispell. Firslier Bank, N.A., Lincoln, Member FDIC He succeeds Richard Timmerman, president of First Bank Butte. Jim Bennett, president of First Citizens Bank, Billings was elected vice president. Lynn Grobel, president of First National Bank, Glasco was elected treasurer, and John T. Cadby of Helena will continue as execu tive vice president. Wyoming News N.P. “Van” Van Maren, Jr., vice chairman of Hilltop National Bank, Casper, was advanced to the presi dency of the Wyoming Bankers As sociation for 1986-87 at the annual convention held at Jackson Lake Lodge, Moran. He succeeds Hale Kreycik, president, Converse Coun ty Bank, Douglas. Bill Ruegamer, president of First Interstate Bank, Sheridan, moved up to become first vice president. Succeeding him as second vice president is Auburn Dowdy, president, Norwest Bank, Cheyenne. Gretchen Tea, Casper, continues as executive vice presi dent. LAST C A L L - 0K0B0JI IS THE PLACE TO BE For The Iowa Independent Bankers Annual Meeting & Convention July 24-26 The New Inn, Okoboji Vlany interesting speakers await you:----------------------------------• • • • • • • • • • Tom Sullivan, Entertainer, Author and Lecturer, Palos Verdes, Calif. Dr. Gordon P. Eaton, President, Iowa State University, Ames Dr. Marvin R. Duncan, Board Member, Farm Credit Administration, McLean, Virginia Mark Shields, Author, Political Analyst and Columnist, Washington Post, Wash., D.C. Jack Wahlig, Managing Partner, McGladrey, Hendrickson & Pullen, Des Moines Charles T. Doyle, President, IBAA & President & CEO, Gulf National, Texas City, Tex. Michael Fitzgerald, Treasurer, State of Iowa William Bernau, Iowa Superintendent of Banking O. Jay Tomson, Director, Federal Reserve Bank, Chicago William Greiner, Executive Director, Iowa Family Development Authority, Des Moines MARK YOUR CALENDARS AND SEE YOU THERE! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 WANT ADS Rates are $5.00 per line per Insertion. Add $3.00 for file letters per Insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER 1535 Linden St., Suite 201 Dee Moines, Iowa 50300 Phone 515/244-5163 POSITION AVAILABLE POSITIONS AVAILABLE BANK PRESIDENTS LOAN REVIEW MGR • mid sized IA bank. To $28K. Positions now available in Iowa and Minnesota in banks with deposits in $30 million range. Salary to $45,000. REAL ESTATE - Head $50MM dept, in IL suburban bank. To $45K. AG LENDER - Require heavy exp. for tough situa tion in Central IA. Salary open. CORRESPONDENT BANKER • Div. head in Ig. metro bank. To $55K. COMMERCIAL LENDERS Positions now available in three choice locations in Upper Midwest. Require minimum of 3 years experience and col lege degree. Salary to range from $35,000 to $60,000. AUDIT MANAGER CPA, in-charge experience for IA bank. Excellent opportu nity with limited travel. $32,000. COMMERCIAL LENDER TRUST OFFICER $80mm bank—outstanding metro location. Call ing Officer, Compliance Officer, strong lending skills. Right individual must have 2 + years experi ence in medium size credits. Please send resume to File No. WFZ c/o Northwestern Banker. Position available in major Iowa bank. Law Degree prefer red. Experience in employee benefits administration. Salary range to $40,000. SENIOR LENDER for $35M bank in western Nebraska. Senior Lender with commercial and agricultural lending experience. In charge of $22M loan portfolio. Send resume and salary requirements to File No. WGB c/o Northwest ern Banker. (PA) Position available in N.E. Nebraska-bank—SENIOR OFFI CER in a small rural Ag bank. Ag lending experience re quired; bank operations experience and knowledge of FmHA programs preferred. Send resume to File No. WGC c/o Northwestern Banker. (PA) LOAN OFFICER. Preferably 2-4 years experience. Opportu nity to work with a good, clean bank in a progressive com munity surrounded by productive agricultural area. Send letter of application and resume to Jim Molloy, First State Bank, Conrad, IA 50621. (PA) R egency RECRUITERS, INC. Diane Evans 1102 Grand Avenue, Kansas City, MO 64106 - 816/842-3860 WANT TO BÜY WANT to move Into community In northern half of Iowa to purchase, control and manage good community bank. Have 20 years successful farming experience and five years as successful CEO/owner of community bank in midwest. Would consider #2 position with option to pur chase. Write File WGA c/o Northwestern Banker. (WTB) Serving bankers quietly and efficiently. POSITIONS AVAILABLE CONSTRUCTION LOAN OFFICER • Need 2 years minimum exp., plus degree. To $25K. REAL ESTATE PROPERTY MANAGER • Need 2 yrs minimum exp. in rural estate with workout exp., plus degree. To $30K. CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 Both positions are in the Greater Omaha area. CEO for a $40 million SE Nebraska bank. Need ag and executive management exp. To $45K. All fees are paid by our client employers. Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We’re Nationwide RYAN AUCTION CO., INC. Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319-382-8648 POSITIONS AVAILABLE COMMERCIAL LENDER Oppty to make a career! Key pos for indiv in 1-3 yr exp range to move into 70m + port in metro bk. Super incen tives & great loc. $28K. SR. LOAN OFFICER $90m + bank wants 10+ yrs exp as mgr of ag oriented port to manage 5 + people. Some exposure to comm’l/RE will be a + for this premiere pos. $40K EVP Problem situation demands hard worker who enjoys chal lenge & reward. Well capitalized bk has problems & needs solutions. Are you up to it? $52K + . FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS (M ill (Hill MOO 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID COMMERCIAL LENDER Splendid opportunity with lead bank in a highly re garded, financially sound Iowa multi-bank net work. Growth position for talented person with credentials, and minimum 3 yrs. exp. & 1 yr. formal credit training. For confidential consideration, contact T.W. Textor. No fees: We are retained by management. PERSONNEL INCORPORATED 2626 RUAN CENTER DES MOINES, IA 50309 Freeland Financial Service 1010 Equitable Bldg. Des Moines, IA 50309 515/282-6462 Employer pays fee. Please contact Malcolm Freeland concerning these quali ty applicants or for other types of banking officers. POSITIONS AVAILABLE PRESIDENT Excellent chance to manage your own bank! Small Mont Bank seeks leader with 7 + yrs ag/com’l lending exp., pro ven mgmt ability and a degree. Strong interpersonal skills and desire for community involvement needed. Salary to $40,000 Job#NB8723. SVP/LOAN ADMINISTRATOR Do your abilities deserve greater potential? Med sized outstate MN bank seeks administrator to manage the lending function. This multi-holding co bank seeks 7 + yrs com'l/ag lending exp and strong leadership qualities. Super location!! Salary to $49,000 Job #NB8724. SR. AGRICULTURAL LENDER Head the agricultural lending function in this small MN bank. 3 + yrs ag lending exp, strong analytical abilities, and desire to conduct farm inspections needed. Salary to $33,000 Job #N B8725. FOR MORE INFORMATION CONTACT PAUL GENTZKOW 2 3636 IDS Center Minneapolis, MN 55402 ® (612) 339-9001 ALL FEES COMPANY PAID FOR SALE DON-iH I P c HOOLER In AND ASSOCIATES "Successful Banking is Quality Personnel" POSITIONS AVAILABLE COMMERCIAL AVP for a $110 + bank in choice location. Portfolio will begin with $5mm in Com mercial credits ............................... $25,000-$35,000 PRESIDENT $10mm bank in Oklahoma, popula tion 500 ............................................$35,000-$40,000 #2 OFFICER in a $30mm bank of 8,000,2 hrs. from Dallas ..............................................$30,000-340,000 #2 OFFICER, Assistant to the President, con sumer and R.E. lending, for a $30mm bank, 3,000 population ......................................$20,000-$25,000 MARKETING OFFICER for a banking related com pany .....................................$20,000 + Commission VICE PRESIDENT for a $60 + mm bank in very nice smalltown ......................................$30,000-$40,000 ALL AROUND BANKER for a $35mm bank, con sumer and R.E. lending, some operations, 10,000 population ............................................... $20,000 + TEXAS INSTRUMENT COMPUTER MODEL NO. 990 com plete with a terminal and two printers. Make offer (712) 523-2171.______________________________________ (FS) USED 2400 BAWD MODEM—make an offer. Contact First Community Bank & Trust, Traer, IA. (319) 478-8746. (FS) BURROUGHS 1000 posting machine and auto reader has been under maintenance contract. Price is negotiable. Call (319) 372-1134 (FS) POSITIONS AVAILABLE LOAN REVIEW - lead bank of major midwestern holding company. Requires degree and minimum of two yrs. loan review experience in large bank environment. $28K COMML. LOAN • $100M suburban affiliate of large multi bank holding company. Strong technical skills and 3 yrs. or more experience. $30K INSTL. LOAN - manage consumer department for $80MM suburban bank. Ideal candidate will have five yrs. instal. lending background including dealer paper. $30K SENIOR VICE PRESIDENT in charge of loans for an $80mm bank close to a metropolitan area . . . . .......................................................................... OPEN CEO - small rural bank located close to recreational area. Work out situation. Ag credits not the problem. $38K AGRI LOAN • primary responsibility for all Ag credits in $25MM community bank. Assist with commercial loans. $35K Additional opportunities available. Resume requested. PRESIDENT, CEO, $30mm bank in Missouri OPEN TOM HAGAN & ASSOCIATES DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 2024 Swift • Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 15 No. 12 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, 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 to Northwestern Banker, 1535 Linden Digitized for St.,FRASER #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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