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Des M oines, Iowa Automakers Taken to Task 0 E ditor’s Note: For the past two years, banker Pete Allen has been waging a one-man campaign to force the B ig Three automakers to comply with Truth-in-Lending regulations 0 as they offer a so-called low percent age interest rate to finance the pur chase o f their cars and trucks. Mr. Allen has taken his campaign to the Federal Reserve Board for some 0 months, and early in M ay presented his viewpoints to Federal Reserve Board officials when he went with the Minnesota Bankers Association on its annual visit to Washington to # visit regulators and Congressmen. Mr. Allen has summarized his views in the following paper which he s h a res w it h N orthwestern B anker readers. # * * * B y B.P. A L L E N , President First National Bank Milaca, Minn. ^ “ They are eating you alive in the automotive financing business. . . ” So said Michelle Krebs, finance editor o f Automotive News maga£ zine, in a speech at the 1986 confer ence o f the Consumer Bankers Asso ciation. Her subject concerned the goals o f the automakers and their captive finance companies. ® The Problem The B ig Three automakers are re signed to the fact that their corpo rate growth will not be in manufac turing and selling more cars and trucks. Their target is to increase earnings through growth in finan cial services, and under anti-trust deregulation their success has been phenomenal. In 1986, finance com panies increased consumer install ment loans by $25 billion and auto loans accounted for $24.3 billion, or 96.4% o f the increase. In compari son, all banks’ consumer installment loans increased $16.9 billion. In October, 1986, G M A C an nounced the sale o f $3.2 billion of auto receivables packaged into se curities, through First Boston Cor poration, the largest corporate-spon sored capital issue in U.S. history. Since then, other auto loan securi tized issues, some sponsored by large banks, have become common place. G M A C has been so satisfied with the results that in March of this year it announced plans to offer $25 billion in car loans, not just in order to sell cars but to build a cus tomer base for all types o f consumer finance, m ortgage lending, insur ance sales, investment and deposit functions. The stakes are mammoth. The result has been that it ap pears that 1986 was the first year in which finance companies financed a larger share o f the auto market than commercial banks; whereas, histori cally, the ratio had been approxi mately 20% to 45% respectively. June 1,1987 But for smaller community banks, the negative impact has been greater inasmuch as they have fewer dealer financing arrangements, and they are not in a position to generate fee or service income from securi tized loan packaging or participa tions. A t the very time that loan de mand in other areas, i.e. agriculture and rural businesses, has been weak, the previously profitable new-car lending has been nearly non-exis tent. Community banks need help. The Reason The reason is so simple that many people in high places refuse to recog nize it. You do not have to be a Philadelphia lawyer to understand it, but many find it self-serving to cloud the issue. Finance companies are gaining and banks losing because o f the A.P.R. advertising! It is the 2.9%, 3.9%, etc. that gets the buyer sat down at the dealer’s fi nance desk. And, in spite o f the fact that few can afford the 24 month amortization, their salesmen then have their unsuspecting eager buyer at their desks. And the consumer loses. For 18 years the “ A P R ” has gained the confidence and respect of the public as the truth, something which they may not fully understand but which they trust as fair and comparable to other finance offerings. And now, the automakers have subverted the Together We Can Accom plish G reat Things Call Bob Louvar, MNB Correspondent Banker 319-398-4204 or Toll Free 1-800-332-5991 The" Strength of Eastern https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis |owa __ f Merchants National Bank 2 Iowa News Norwest Bank Des Moines, N.A. NORWBST BANKS Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC Teamwork: one of the reasons we’re first in Iowa. Mark Conway A P R to become a tool o f deception. The A P R misleads instead o f clarify ing. It is a travesty instead o f truth. Again the explanation is simple. I f a buyer must give up a rebate to take advantage o f the “ low-rate” fi nancing, then the forfeited rebate is an obvious cost o f financing to the buyer. The forfeited rebate is akin to a pre-paid finance charge. Depend ing upon the many variables, 2.9 % really is 19.25% (see our ad), 3.9% truly is 10.50%, or 8.25% or 10.25% (see analysis), or 7.5% becomes 13.0%, etc. And the automakers now have chosen to further confuse by adding specific dollar “ savings” in their ad vertising. These are equally decep tive and inaccurate, (see analysis). And again, the forfeited rebate which they choose to ignore is the culprit which costs the public dear ly* None o f this confusion or decep tion would be possible if the auto makers followed the spirit and in tent o f Truth-in-Lending. But they rely upon a loophole, questionable but perhaps technically legal, which they assert fits their unique relation ship between automaker, subsidiary finance company, dealers, and pub lic. A s a result, the FTC, which has enforcement responsibility over the finance companies, has chosen to take no action. The Federal Reserve System has opted to refer this situa tion to its Consumer A dvisory Council which, in turn, has post M A S O N C IT Y : Henry E. Edsill h a s * been appointed vice president and manager o f the trust department at First Interstate Bank o f Mason City. H e spent the last six years with the trust department o f t h e * Peoples Bank and Trust in W ater loo. W A T E R L O O : Am ong recent pro motions at National Bank o f Water- £ Dorothea Wolfe loo were three vice presidents. For mer a.v.p. Judy DeGroote was pro poned any definitive recommenda moted in customer accounts. Ken tions to the Board o f Governors. It dall Messer was advanced in ag lend is interesting to note that the Chair ing. Robert S. Kahler, controller, % man o f G M A C is on the three-mem will retain that title along with his ber sub-committee o f Consumer A d promotion to vice president. visory Council involved. The Solution , The solution lies in Washington, D.C. The Truth-in-Lending legisla tion gave the Federal Reserve Sys tem rulewriting authority to draft the regulations to implement the act. The specifics o f the regulations are complex but the intent o f the law is simple. The Fed can determine whether change can be accomplished under its rulewriting authority, or whether Congress must amend. Such a change has many friends in Washington, but voices must be heard. Banking has allies. The credit unions may be even more negatively impacted than banks. Some, for strange reasons, say that the public will blame banking is such “ lowrate” financing is outlawed, but banking “ wears the white hats” and truth is on our side. I f we are afraid to promote our cause when it coin cides with the public interest, then we may as well fold our tents on any thing. It is tough to do much from Milaca, Minn., or Alamo, Tex., or Douglasville, Ga., but together banks, consumer groups, credit unions, and their associations can develop the counsel, initiatives, and support to mandate a change. W e owe it to our constituencies. □ For Professional Correspondent Service Call 1-800-622-7262 Nebraska News Donald E. Blaha, president and CEO o f the First National Bank in Ord and Farmers Bank o f Sargent, was elected president o f the Neb- ^ raska Bankers Association at th e w N B A convention M ay 14-17, suc ceeding C.G. “ K e lly ” Holthus, presi dent and CEO o f First National Bank o f York. Following Mr. Blaha £ as president-elect is Harley D. Bergmeyer, president and chairman o f Saline State Bank in Wilber. Stan Matzke, Jr. continues as N B A ex ecutive vice president. £ * * * The Nebraska Bankers Associa tion 27th Annual Bank President’s G olf Tournament will be held June ^ 11 at the Lockland Country Club in ^ Hastings. The day begins at 8:30 with continental breakfast, followed by a shotgun start at 9:00. Follow ing golf, an awards reception and ^ buffet dinner will be held. Fee is $65 9 per person, which includes cart ren tal, green fees, breakfast, reception and buffet. To register contact the N B A office. a O M A H A : Am ong recent promo tions at Norwest Bank Nebraska aqr/careers,inc. J AG BANKING PERSONNEL SPECIALISTS There Jte A Difference In Banks... Valley National Bank & Main Office - Sixth and Walnut DES MOINES. IOWA 50304 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Member FDIC JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President * Jean 712/779-3567 Massena, la. 50853 Sandl 515/394-5827 New Hampton, la. 50659 Confidential. Employer paid fees IOWA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM! CALL OR WRITE IOWA BANKERS INSURANCE AND SERVICES, INC. 104 EAST LOCUST STREET DES MOINES, IOWA 50308 1-800-532-1423 or (515) 286-4344 KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TOPEKA, KANSAS 66601 (913) 234-2631 SOUTH DAKOTA BA NKERS ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? PROBLEMS WITH YOUR HA VE YOUR PREMIUMS SKYROCKETED? BANK’S BOND? Are you FORCED to write one type of insurance with a company at a higher premium, just so they w ill write another type of policy for you? IF SO... PLEASE CONSIDER THIS We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM CALL OR WRITE KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 TOPEKA, KANSAS 66601 (913) 234-2631 K https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis fiS l OWNEO BY BANKERS SERVING BANKERS ' FISHING FOR A BANKER? LET R O BE RT HALF BE YOUR G U I D E . . . Do you have a key banking position that must be filled? Then call on the Banking Search Specialists at ROBERT HALF that have been finding the |‘Big Ones’ ’ for almost 40 years. From Presidents to Lenders to Operations Officers. . . . just give us the specs and w e ’ll reel ’em in! Why dream about the “ Banker that got aw ay” when you can call the best guide around? U ►ANKERSm ANKERS! Somespecialcandidatesfrom RobertHalfsBankingDivision PRESIDENT. B.A. Are you looking for an articulate manager with the perfect combination of analytical lending skills and a commitment to community involvement? This proven professional has over 10 years banking experience with emphasis in commercial lending which includes formal credit training. Currently managing a Jf50mm bank with excellent results. Willing to relocate! Asking: $ 65K + COMMERCIAL LENDER, B.S. A take-charge commercial lender who has earned the respect of fellow peers! Currently serves as the #2 person in a $40mm commercial department. Excellent background in light level mid market lending and commercial credits. Ready for a new challenge! Asks: $40K Range WORKOUT SPECIALIST, B.S. An action-oriented individual w ho can make tough decisions quickly! This effective negotiator has 3 + years experience, currently acting as part of a loan “clean-up” team. Terrific people person with the ability to convey unpleasant information in a professional manner. Ready to ‘ ‘bum the midnight oil” to clean up a loan portfolio! Asks: $30K Range AG LENDER, B.S. A high energy achiever accomplished in both commercial and ag credits. Proven understanding of cash flow analysis, grain and livestock operations. “Shirt-sleeved” lender that understands https://fraser.stlouisfed.org the importance of business development. Sharp image! Asks: I30K Federal Reserve Bank of St. Louis CONSUMERLENDER, A.A. Do you need a personable consumer lender to effectively communicate with that sometimes “hard to please” customer? This performance-motivated achiever is ready to put in the extra time to do the job right. Has 2 + years bank experience with emphasis in installment and real estate loans. Prefers larger community. Asks: $20K + COMMERCIAL LENDER, B.S. Professional image and strong analytical skills make this banker a great catch! With 5 + years experience in banking, has successfully managed the commercial, ag, and installment loan areas of a $30mm bank. Profit-minded motivator looking for a new career opportunity. Prefers larger community of 15,000 or more. Earns: I33K CASHIER, B.S. Could your operations department use a profit-minded individual to direct the accounting area? 10 + years operational experience in a J60mm bank including financial reporting, budgeting, bank security and reserve reports. This person w on ’t let you down! Asks: $38K AG LENDER. Talented ag lender with the knack for handling problem credits effectively. Over 6 years of diligent performance with a S 100mm bank. Proficient team player ready to join an innovative management group! Earns: I30K SR. COMMERCIAL LENDER, B.S. This diligent professional could be a fit as a senior lender in a mid-sized bank. Has 5 + years proven commercial lending, agricultural experience, formal credit training and a polished image that will make this candidate a great addition to any staff! Asks: $40K For Further Information Regarding Any of These Candidates or toArrange An Inter — Paul Gentzkow Placement Manager The Banking Division Robert Half o f Minnesota, Inc. <D 3636 IDS Center, Minneapolis, MN 55421 T https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (612) 339-9001 SOFTWARE PACKAGES FROM REC-CHEK For more information, contact: REC-CHEK, INC. B O X 239 NEVADA, IO W A 50201 515/382-2186 FLEX-O-PAY... ACCO UNTS RECEIVABLE FINANCING T H A T W ILL YIELD Y O U R B A N K FROM 18% T O 24%. FU LL RECOURSE, AN D PROCESSED IN BANK ON Y O U R MICRO. HELP... HOM E E Q U ITY LO AN PROCESSING SYSTEM OPEN-END CREDIT, VARIABLE RATE W ITH TIERED RATES AVAILABLE. PERSO NAL IZED STATEMENTS W ITH COM PLETE M ANAGEM ENT REPORTS. STAR AG... COM PLETE A G CREDIT ANALYSIS W ITH TW O LEVELS OF R ISKRATING . IN CLUDES CASH FLOW, 5 Y E A R BALANCE SHEET, AC CRU AL INCOM E STATEMENT. LEND ER/CO M PUTER OPERATORTRAINING SEMINARS AVAILABLE MONTHLY. STAR COMMERCIAL... 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EXPECTATIONS AN D TH E SYSTEM W ILL PRESENT YIELD, FEE AN D BALANCE ALTERNATIVES. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FirsTier Correspondent Services More o f w hat it takes to serve you wen. Lincoln • Omaha FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC were the advancements o f three to vice presidents. Lynn F. Bluml is in ^business banking in Millard, M ary w Ann Lydick is in training and devel opment at the Omaha office, and Sara M aster is in employee relations and staffing in Omaha. Minnesota News The Minnesota Bankers Associa tion Nominating Committee has named the following bankers as •nom inees for Association officers, 1987-88: James R. Jorstad, presi dent; A . W illiam Sands, first vice president; James H. Hearon, I I I , second vice president, and R. James •G esell, treasurer. Nominees will be presented for election to delegates of M B A ’s 97th Annual Convention June 8-9 in Minneapolis. ^ E L B O W L A K E : The F D IC has ap proved the deposit assumption of The First National Bank o f Elbow Lake by the First National Bank of Fergus Falls. The Elbow Lake bank, 0 w ith assets o f $17.5 million, was closed on M ay 14 and reopened the next day as a branch o f First N a tional Bank o f Fergus Falls. The Fergus Falls bank assumed about •$16.2 million in deposits and has agreed to pay the F D IC a purchase premium o f $52,000. I t will also pur chase certain o f the failed bank’s loans and other assets for $5.6 mil•lio n . To facilitate the transaction, the F D IC will advance about $11.5 million to the assuming bank and will retain assets o f the failed bank with a book value o f about $11.9 mil• lio n . M IN N E A P O L IS : Peter R. Reis has been elected president o f Norwest Bank Midland, succeeding Ernest C. Pierson, managing officer o f the bank since 1982, who is retiring. Mr. Reis previously served as vice presi dent and manager o f business bank ing for Norwest. ST. P A U L : Patrick J. Donovan, formerly vice president/retail bank ing for Norwest Corporation, has been elected president o f Norwest Bank St. Paul. H e succeeds Richard A . Klingen, who was elected chair man and remains the bank’s CEO. Mr. Klingen announced he will retire at the end o f this year. W H E A T L A N D : N orw est Bank Wheatland has announced the ap pointment o f James E. Hillberry as vice president, commercial and agri cultural loans. H e joins the bank from the First National Bank of Powell. Montana News South Dakota News R A P ID C IT Y : Tom Naasz has been promoted to vice president, private banking, and W illiam Grant has been promoted to vice president, business banking, at Norwest Bank South Dakota in Rapid City. Both previously served as assistant vice presidents at the bank. S IO U X F A L L S : Craig Johnson has been named vice president, commu nity banking for Norwest Bank South Dakota and Norwest Bank Minneapolis. He has served Norwest in various capacities since 1964. S IO U X F A L L S : Terry L. Kappes has been elected vice president and financial services group manager for First Bank o f South Dakota. He joined the bank in 1977 and most re cently served as retail collections manager. Wyoming News W yom in g’s interstate banking law took effect on M ay 22. It allows nationwide interstate banking on a Confused About How A Bank Consultant Can Help You? Jack Canaday and Associates, Inc. would like to help answer your questions. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis non-reciprocal basis. W y o m in g banks being acquired by out-of-state companies must be at least three years old. In the case o f failing banks, priority will be given to in state banks. Call us (4 0 2 ) 551-7005 L IB B Y : The F D IC has approved the deposit assumption o f United Bank, Libby by First National Bank in Libby. The failed bank, which was closed on M ay 14, reopened the next day as a temporary office o f First National Bank in Libby. United Bank had assets o f $15.8 million. First National will assume about $14.5 million in deposits and pay the F D IC a purchase premium o f $75,000. It will also purchase certain of the failed bank’s loans and other assets for $9.7 million. To facilitate the transaction, the F D IC will ad vance about $5 million to the assum ing bank and retain assets o f the failed bank with a book value of about $6.1 million. Estate Appraisals Purchase of Collections Sale of Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest Ben E. Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 POSITION AVAILABLE SERVING THE UPPER MIDWEST COMMERCIAL LENDER. Due to growth of the dept, we are seeking an aggressive, results oriented lender capable of handling an $8-10MM portfolio. Send resume to File No. WIV c/o Northwestern Banker. (PA) R eg ency RECRUITERS, INC. SR. LENDER needed for recently acquired $64MM Bank. Position could lead to PRES/CEO. Looking for that aggres sive and analytical leader. Send resume to File No. WJF c/o Northwestern Banker. (PA) COMMERCIAL LOAN OFFICER. $180MM aggressive western Wisconsin bank. 2 years prior commercial lending ex perience or completion of commercial loan training pro gram. Excellent salary & benefits. Send resume and salary requirements to File No. WJL c/o Northwestern Banker. _________________________________________(PA) Diane Evans 1102 Grand Avenue, Kansas City, MO 64106 816/842-3860 IOW A NATIO NAL BANK CURRENCY INTERNAL AUDITOR for Central North Dakota bank. Full time position responsible for daily auditing of internal controls and compliance with State and Federal regula tions. Send resume to Kenneth D. Reno, President, United Bank of Bismarck, P.O. Box 1937, Bismarck, ND 585021937. (PA) MARKETING/PUBLIC RELATIONS OFFICER. Position requires minimum of 3-4 years banking experience. Commu nity oriented individual who is sales minded. Report to top management. Send resume and salary requirements to Gene E. Loverink, SVP/Cash., United Bank & Trust, Box 828, Ames, IA 50010. (PA) FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 NEW OPPORTUNITIES CREDIT OFFICER—$400mm Midwest bank needs a sea- A soned manager with proven track record........... To $50,000 w COMMERCIAL LOAN—Prefer large bank training and ex perience for a $40mm commercial department. To $38,000 BANK AUDITOR—CPA/CIA or CBA with bank audit experi ence and supervisory skills................................To $28,000 AG LOAN OFFICER—Good opportunity for a Jr. Officer to ^ improve career path............................................To $23,000 W Financial Careers, Inc. Two Ruan Center/Suite 1000, Des Moines, IA 50309 515/245-3786 Employer pays fee. Please contact Lorraine Lear or Malcolm Freeland con- A cerning these and other Midwest banking opportunities. ^ PO SITIO NS AVAILABLE WANTED FOR COLLECTION Buying and appraising coin collections. “Want Lists” Serviced-National Currency from a particular location, etc... DON MARK Box 1, Adel, IA 50003 • 515/270-8170 • COMMERCIAL LOAN WORKOUT SPECIALIST Do you want an organization that can offer career pathing? A Twin Cities bank needs an ambitious negotiator with 4 + yrs coml lending or workout exp. This position req's an action oriented professional with proven workout A ability. If you are prepared to work you will be rewarded. ^ To $40K. Job #NW1724. COMMERCIAL LOAN REVIEW POSITIONS AVAILABLE TRUST DEPT. MANAGERS—Need two - Omaha and Kansas City. Need JD plus 3-6 years of gen eral trust experience. To $40K. TRUST DEPT. ADMINISTRATORS—Need two Omaha and Central Iowa. Need a degree + 2 years or more experience in trusts. To lower $20’s. 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 Has the time come to make a Ghange? One of the premiere banking groups in the Twin Cities is adding to its loan ad ministration team. This high visibility position will review loan administration procedures, loan quality and internal ^ credit controls in its metro affiliate bank. This career step ping stone opty offers great advancement. Must be de greed and have 2 + yrs coml lending exp. To $35K. Job #NW1725. JUNIOR COMMERCIAL LENDER Has mgmt failed to recognize your contribution? A well a managed west suburban bank who is expanding dramat- ™ ically needs a junior coml lender. This position will origi nate strictly coml loans and administer a portfolio of $3mm to $6mm. Desire a high energy type with 2 + yrs consumer lending exp and 6 mo’s to 1 yr coml lending exp. Must be degreed. To$30K. Job#NW1726. FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR JEAN TODD R O B E R T IMILF Or MMNESOTA,MC. CHOOLER In ASSOCIATES "Successful Banking is Quality Personnel" PO SITIO N S AVAILABLE COMML LENDER 4 + yr comm'l lender will have $8+m portfolio great future. $40K. CREDIT MGR Supervise top notch staff. 6 yrs credit, supervisory & Irg bank exposure. $33K. RETAIL MANAGER Are you a go-getter? Mgt, consumer, comm’l & bus . devel$37K. opment skills gained over last 4 yrs. AG LENDER Small metro bank seeks ag officer w/2 + yrs in bank . $23K. TRUST OFFICER JD/finc’l institution seeks 2 + yr trust person who has es tate planning, pension & personal trust knowledge. $28K. RETAIL LENDER Super location? Fast growing bank looking for exp con sumer, comm’l, ag and operations person. $30K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS R O B E R T IMILF accounting, financial and edp personnel specialists 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID POSITIONS AVAILABLE accounting, financial and edp personnel specialists 3636 IDS Center Minneapolis, MN (612) 339-9001 ALL FEES COMPANY PAID PRESIDENT, $40mm bank, small town, private ownership...................................................$50,000 EVP, $175mm, strong lending, strong public rel., operations knowledge..........................$65-$75,000 PRESIDENT, $25mm, strong beef & dairy, quality organization............................................... $50,000 EVP, $70mm, 25,000+ population, seasoned lender, strong bus. development................ $50,000 VP, $100mm, head of business banking, solid lender, manager, teacher..................... $45-$50,000 SR. AG. LENDER, work out portfolio, Farm Credit or Fed. Land Bank background........... $40-$45,000 AG WORK-OUT SPECIALIST, Farm Credit or Fed. Land Bank background........................ $35-$40,000 AG VP, $50mm + bank, small town, manages staff of ten...........................................................$35,000 SVP OPERATIONS, #2 Officer, strong cashier & accounting background, $70mm..........$45-$50,000 COMMERCIAL LENDER, top location in mountain country, $10mm portfolio........................... $30,000 DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 POSITIONS A V A IL A B L E COMML LOAN - $50MM suburban bank with excellent growth and earnings history. Handle majority of commer cial credits. Report directly to President. $38K CEO - suburban de novo bank. Experience as CEO or COO required. Strong commercial loan and business develop- A ment skills desired. Open LOAN REVIEW • large urban bank affiliated with major midwestern holding company. Degree and 2-3 yrs. loan review/workout experience desired. $30K TRUST OFFICER ■ medium size community bank with growing trust dept. JD preferred but not mandatory. $27K COMML LOAN • $100MM community bank. Supervise com- w mercial lending function. Future advancement possible. $45K Additional positions available in midwestern states for experienced bankers. TOM H A G A N & A SSO C IA TE S 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 16 No. 7 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, $24.00 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 St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A 0
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