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• Vol. 14 No. 8 Des Moines, Iowa June 10,1985 House Begins Action on Banking Bill ^ w a a A ^ % • # T HE House Banking SubcommitI tee on Financial Institutions met last W ednesday, June 5, to begin markup on H.R. 20 and re gional banking legislation. The makeup o f that subcom m ittee is im portant for it lists five New York members, four o f them Democrats, and only one representative from Texas and Illinois where bankers strongly oppose the trigger con tained in present language. A spokesman for the Independent Bankers Association o f America noted, however, that “ If money center banks prevail in the subcom m it tee (and it is going to be tight), they sit weaker in the full com m ittee and even weaker in the full H ouse.” In the present language, those states that have enacted their own legislation authorizing regional pacts or lim ited interstate banking would face mandatory nationwide interstate banking in five years— thus, the term “ trigger.” States not approving regional or interstate pacts would not be subject to na tional banking, and states would have five years to extract themselves from such regional pacts if they chose to do so. IB A A strongly opposes the trig ger, o f course. The American Bank ers Association finds itself with a slight m ajority (about 55-45) favor ing the trigger at its Leadership Conferences in February and late the Douglas Amendment which is April. A t least 12 state banker asso the foundation o f our diversified fi ciations have adopted positions op nancial system. You will be voting posing the trigger and there ap on the question o f whether the peared to be little support for it at states, rather than the federal gov initial state conventions in the mid ernment, should continue to be al lowed to determine their own finan west. A B A ’s basic support is for clos cial structure. W e urge you in the ing the nonbank bank loophole, strongest terms to vote ‘no’ on any some geographic expansion to allow legislative proposal which would banks to be more com petitive with trigger national reciprocity for any their nonbank financial com petitors, state which decides to enact regional and expansion o f authorized pro reciprocity legislation.” ducts. The legislation being con The troublesom e nature o f the en sidered by the House addresses the tire issue is attested to by the furi first two concerns, but not the pro ous lobbying underway. The New ducts. Rep. Fernand St Germain (D., York Times front-paged the battle in R.I.), chairman o f the House Com its June 3 issue. Adding to the com m ittee on Banking, Finance and Ur plexity o f the issue is the fact that ban Affairs, has let it be known that Federal Reserve Chairman Paul Volany banker wish list must be accom cker endorsed the trigger which, as panied by an addressing o f con one W ashington observer put it, sumer concerns such as delayed “ was like giving the proposal an in availability and truth-in-savings (to tellectual endorsement.” Rep. St Germain had agreed late allow comparisons o f effective an last year with Sen. Jake Gam (R., nual yields). It was anticipated last week that Utah), chairman o f the Senate Bank action by the full com m ittee on the ing and Finance Committee, that subcom m ittee’s June 5 markup legislation to close the nonbank might well take place this week. bank loophole should have a grand Lobbying was already intense last father date going back to July 1, 1983. That date was argued by Rep. week in W ashington. B.F. “ Chip” Backlund, IB A A Frank Anunzio (D., 111.), who also president, wrote Rep. St Germain re had stronger language for the pre cently that “ you will be voting on vious bill that allowed grandfather one o f the m ost im portant issues ing for those charters on a prelim i that has been before the Congress in nary basis instead o f final approval. almost 30 years. You will be voting That specific date and language on whether to fundamentally alter would have allowed Dimension and SPRENGER, ROWLAND AND Getting MESSINA it done for you. Wi w ^ Bill Sprenger Frampton Rowland John Messina 234-2625 234-2485 234-2486 Commerce Bank rfKansasotyM https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M E M B E R FD IC T e le p h o n e (816) 234-2000 " amà.mm mamma mamma mm^mm Norwest Bank Des Moines, N.A. Serving bankers quietly and efficiently. Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS M e m b e r F D IC CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 Teamwork: one of the reasons we’re first in iowa. Dorothea Wolfe John Rigler its three dozen applications to sur vive. Rep. Anunzio apparently has prevailed on Rep. St Germain to change his position for the latter now supports the M ay 9, 1984, grandfather date. However, Rep. Anunzio agrees to a weakened posi tion by agreeing to language that grandfathers on that date only those charters that had final approval. IB A A President Backlund closed his letter to Rep. St Germain by stating, “ In summary, I urge you to leave control over the structure of bank ownership where it has been throughout our history—at the local level—and prevent overwhelming growth by the money center giants. Vote against the trigger. ’ ’ □ B Jill Ä ?S lk ■ 9f 3 M ¥ Infekte». ASK D IC K R E T Z to make MNB work for you. Iowa News The Iowa Bankers Association is sponsoring the Iowa School o f Bank ing June 23-28 at the University o f Iowa, Iowa City. Tuition is $650 for IB A members and $1050 for non members, and includes housing, meals, and study materials. For in form ation on course content and en rollment requirements, contact Judi Carber at the IB A office in Des Moines. The Iowa Bankers Insurance & Services, Inc. New Life Licensing School will be June 24-25 at the Holiday Inn—Capital Plaza in Des M oines. The school will run 9:00 a.m. to 5:00 p.m. on June 24 and 8:00 a.m. to 5:00 p.m. on June 25, with lunch served both days at 12:30. Lodging is available at the hotel. Fees for materials and lunches are $55 for bankers and $65 for non bankers. You must register by June 17 by mail. For a registration form or m ore in form a tion , co n ta ct Jeanette M. Ellington, Iowa Bank ers Insurance and Service, Inc., 104 E. Locust St., Des M oines, Iowa 50308, phone 1-800-532-1423 or (515) 286-4371. * * * Bankers o f Group II are invited to Group II G olf Day at the W ashing ton Country Club on June 20. Wash ington County Bankers will be the hosts. G olf will be played all day, Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK FORT M ADISON : Charles J. W al ker has been elected president of Fort Madison Bank & Trust Co., to succeed A . Anthes Smith, who has been elected chairman o f the board. Mr. Walker has been executive vice president and trust officer at the bank since 1976. Mr. Smith has served as president since 1967. W ATERLO O : M idway Bank & Trust, with two offices in Cedar Falls, has been acquired by Iowa Na tional Bankshares Corp., the hold ing com pany o f the National Bank o f W aterloo, through a stock ex change. Both banks will continue to operate independently with no man agement or personnel changes anti cipated. Nebraska News Four Nebraska banks were closed Friday, M ay 31, by State Banking Peter DeRosier... Toll free 1- 800- 332-5991 Merchants A National Bank 151 beginning at 9:00 a.m., with lunch available at the clubhouse at noon. Social hour will be from 5:00 to 7:00 p.m. with a steak cookout at 7:00. Cost for golfers, which includes golf, use o f cart, social hour, steak feed, and prizes is $35. N on-golfers’ cost is $17.50. Rain date will be June 27. To get to the W ashington Coun try Club, com e into W ashington from either direction on Highway 92 to stop light at South Iowa Ave. Turn south at this com er. Follow South Iowa A ve. for 1.2 miles to the Country Club sign which indicates a turn to the right. Please make reservations to d a y contact Dean Edwards, President, Rubio Savings Bank o f Brighton, P.O. B ox 100, Brighton, Iowa 52540, phone (319) 694-2821. Regis tration may be paid the day o f the outing. Our newest correspondent banking professional H. PETER DEROSIER Vice President Valley National Bank l§i DES MOINES, IOWA 50304 Member FDIC A BANKS OF IOWA BANK Call toll free (800) 622-7262 3 Call on the “Experienced Professionals” Ready to meet your correspondent needs. ^ 0 41 • • • D irector Roger Beverage. The four banks closed were Bank o f Taylor, The Fairfield State Bank in Fairfield, Security State Bank in Edgar and Scroggin & Co. Bank in Oak. The Bank o f Taylor was reopened M onday, June 3, as a branch o f Union Bank & Trust Co. o f Lincoln. Union Bank will assume approxim ately $12.2 m illion in 3,500 deposit accounts o f the Taylor bank and will pay the FDIC a purchase premium o f $10,000. Security State Bank in Edgar was reopened Monday as a branch o f Guide Rock State Bank, which paid the FDIC a pre mium o f $26,000 for the Edgar bank. No bids were received for the Fairfield and Oak banks. The FDIC will proceed to pay o ff depositors of those two banks. The Bank o f Tay lor had been owned by Packers Na tional Bank in Omaha, which ac quired it in April when Packers foreclosed on a stock loan made to the owners o f the Taylor Bank. The three other banks were owned by Roger V. Voorhees o f Omaha. A c cording to Mr. Beverage, the bank closings were due to problem s cre ated by the depressed farm economy. Minnesota News • 9 M IN N EAPOLIS: D avid F. Lenz has joined First Bank Minneapolis as a vice president in the interna tional banking/Am ericas & Latin American division. He was previous ly vice president at Continental Illinois Bank, Chicago. Illinois News • W ILM ETTE: James B. Lund has been elected president and chief executive officer o f the First National Bank of W ilmette. He joined the bank this year from M atteson Rich- ^ F ir s t N a tio n a l L in c o ln 13th & m streets, uncoin, ne 68501 ton Bank where he served as presi dent since 1970. Wisconsin News GREEN B A Y : James P. Cooney has joined Valley Trust Company as vice president, employee benefits. He com es to Green Bay from First Interstate Trust Company, Sheboy gan. HAZEN : M yra M. Savelkoul has been named vice president and se nior m ortgage loan officer at Union State Bank. She has overall respon sibility for the m ortgage loan de partment and also serves as com pli ance officer. Ms. Savelkoul joined Union State in 1980 from M idwest Federal Savings & Loan Association o f M inot. M ADISON : D avid M. Kemp has joined the staff o f Valley Trust Com pany as vice president. He will be responsible for the marketing o f var ious employee benefit plans in the Madison and Janesville markets. Mr. Kemp was form erly senior vice Montana News president o f First Interstate Trust HELEN A: Phillip B. Johnson has Company o f W isconsin, Sheboygan. been elected executive vice presi dent o f First Bank Helena, to suc South Dakota News SIO U X FALLS: George M. Leland ceed Richard Fossum, who is retir has been elected executive vice pres ing. Mr. Johnson comes from First ident o f First Bank o f South Dako Bank W est in Great Falls where he ta, N .A. He previously served as served as executive vice president managing director for First Bank and second officer. System ’s southwest Minnesota re gion, which position he has held since 1983. Mr. Leland will continue to have overall management o f First Bank’s eight southwest M innesota affiliates as well as those in Madi son, Vermillion, Platte and Corsica, South Dakota. North Dakota News FARGO: Three officers have been elected at Dakota Bank and Trust Company. Bert Gerhart has been elected president and director, hav ing previously served as president and board chairman o f Dakota Bank and Trust Company o f Bismarck. Kenneth H. Recker, Jr. was elected to the board o f directors. He is exec utive vice president o f Dakota Bank We’re Security for You | A t Security National Bank, w e’re people y ou can count on to handle all o f you r Correspondent Banking needs. So, start corresponding with us. W e’re Security for you! SECURITY N A T IO N A L B A N K IN SIOUX CITY, IOWA. MEMBER F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis and Trust, Fargo and president o f Ada (Minn.) National Bank. W ayne C. Leiner has been named executive vice president, having been Dakota Bank’s senior vice president since 1978. m Dennis Nahnsen V ice President an d M anager C orrespondent B anking S ervices 712-277-6768 Wyoming News RIVERTON : John R. Benesch has been re-appointed president o f American National Bank o f River ton, follow ing the resignation o f Dan Lewis. Mr. Lewis, who has served as president since summer o f 1984, plans to pursue a new jo b opportu nity. Mr. Benesch was American National’s president from 1969 to 1984, having first joined the bank in 1963. 4 WANT ADS— Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter a dvertisers cannot be revealed. NORTHWESTERN BANKER, 1535 Linden Suite 201, Dee Moines, Iowa 50309. Phone 515-244-8163. Ag Banking Specialists Let us help with your career advancement or staffing needs. Call in confidence, without obligation. Employ ers pay our reasonable fee to hire the best. BANK CONSULTING FOR LENDING COMMERCIAL LENDER with three years experience and college degree for $50 million midwest b a n k ...................... ............................................................................Salary $30,000 Daniel W. Hansen 3827 Lindlavista, Des Moines, la. 50310 Phone: 515-278-9174 COMMERCIAL LENDER with five or more years experi ence and college degree for bank in university community ............................................................................Salary $40,000 Linda 515/394-5827 New Hampton, la. 50659 POSITIONS AVAILABLE i Jean 515/263-9598 (W/F) 712/779-3567 (M/T/TH) Massena, Iowa 50853 anricarers , inc . — I A G BANKING PER SO NNEL SPECIALISTS COMMERCIAL LENDER • 3-5 years - central Iowa To $40K. AG LENDERS - Nebraska & Iowa 2-5 years exp. $22 to $30K. Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member Natlonel Personnel Associates We’re Nationwide POSITION AVAILABLE PRESIDENT for $100 million independent S. Dak. bank. Ag and commercial lending a must. Knowledgeable in all areas of banking. Capable of supervising people and pro moting the bank. An excellent opportunity and benefits. Send complete resume, references and salary require ments to file WDH c/o Northwestern Banker. (PA) AG LOAN OFFICER for $70 million eastern Iowa bank. In dividual must have minimum of five years ag lending ex perience and be self-motivated. Excellent opportunity, good benefits. Send resume, references and salary re quirements to file WDI, c/o Northwestern Banker. (PA) INVESTMENT OFFICER for small regionalmldwestern bank. Needs 10 years’ experience. Investment portfolio $250 million. Must have excellent credentials. Salary com mensurate with experience. Contact file WCV, c/o North western Banker. (PA) Central Iowa metropolitan bank has Immediate opening for experienced COMMERCIAL LOAN OFFICER. Applicant must have a minimum of three years commercial loan ex perience. Salary based upon experience. Send reply to file WDJ, c/o Northwestern Banker. (PA) BANKERS AVAILABLE AG LOAN OFFICER • Accomplished lender with 7 + yrs In row crop and feeder lot regions. Strong analysis skills, 4 yr ag degree, spread setting and heavy cash flow work. $28K. COMMERCIAL LENDER - Increased commercial portfolio of a $78mm bank 100%. Over the last 12 yrs has handled all phases of comm’l lending and Is proven professional. Stable job history, senior lender exposure and strong mgmt capabilities. $40K. CONSUMER LOAN OFFICER/ASST CASHIER • Analytical and competitive with 2 yrs handling consumer loans and assisting in operations in a $140mm bank. Deg’d, fast learner ready to direct operations and handle consumer lending in a growing Institution. $22K. PRESIDENT - Skilled banker with 8 + yrs as CEO of a $25mm institution. Well developed workout knowledge. An ag loan professional who has the ability to take charge and has the job record to prove it! $48K. PARTIAL LIST OF AVAILABLE BANKERS FOR FURTHER INFORMATION FOR THESE AND OTHER POSITIONS RESPOND IN CONFIDENCE TO: M. KURT ROSENCRANTS AT (515) 244-4414 i M> R O B E R T H R L F H> H> 317 6th Ave, Ste. 650 ® Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID NUMBER TWO person for $40 million bank in Wisconsin resort area. Requires commercial lending experience----.....................................................................Salary to $40,000 COMMERCIAL LENDER with five or more years experi ence and college degree for $125 million midwest bank. Excellent future...................................................Salary open Work-out loan assistance, comm./ag loan review, documentation audit, loan pro cedures, training. 8 yrs. exp. loan review/loan officer/bank counsel. OPERATIONS - V.P. • Degreed. Need 5 or more of operations plus some lending experience. To $35 K. Financial Careers CEO for $60 million independent mid-west bank. Immedi ate opening .........................................................Salary open. BANK PRESIDENT - Southwestern Minnesota $55M bank is seeking Chief Executive Officer. Candidate must have good lending background with emphasis on com mercial and agricultural lending most beneficial. Position requires solid knowledge of the banking industry, strong administrative and leadership skills. Candidate must be willing to take an active role In providing community leadership. Send re sume and salary requirements to: Marilee Olson Bremer Financial Servicss, Inc., Suita 700 55 East Fifth Street, St. Paul, MN 55101. Equal Opportunity Employer FOR SALE DIEBOLD TABS 910 ATM with or without building. Current ly on maintenance contract, low usage, excellent condi tion. Contact First National Bank, Minden, NE 68959. Phone 308/832-2030.______________________________(FS) TWO CHECKVEYER STORAGE UNITS, complete with trays, in excellent condition. Contact Jeff Raines, Clarke County State Bank, Osceola, Iowa. Phone 515/342-6581. _______________________________________________ (FS) 15 GFB FILE CABINETS, legal size, 4-drawer lockable, like new. $175.00 each. National Bank of Waterloo. 319 291-5429._______________________________________ (FS) Do you want to taat a alts? Hava a temporary facility while you build? Contact Drummer Leasing, 401 Queans Court, Sioux City, IA 51104. Phone 712/239-2315.___________ (FS) CORRESPONDENT BANKER with ag loan experience wanted by $200 million mldwestern bank .. Salary $30,000 AG LENDER for $23 million bank In northern Iowa ............ .....................................................................Salary to $35,000 COMMERCIAL LENDER with three to five years experi ence In both commercial and mortgage len d in g ................ ........................................................................... Salary $32,000 AG LENDER with five or more years proven ability for northern Iowa bank ....................................... Salary $32,000 Write or call Malcolm Freeland or Cy Kirk In care of Freeland Financial Service, Inc., 1010 Equitable Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. T O N ^ C H O O L E R In AND- ASSOCIATES " S u c c e s s fu l B a n k in g is Q u a lity P e rs o n n e l " Send your resume or phone Don Schooler, 417-882-2265, 2508 East Meadow, Springfield, Missouri 65804. POSITIONS CURRENTLY AVAILABLE EXECUTIVE VICE PRESIDENT $150mm bank, strong lending & operations ...........$70,000 Metro HEAD OF LENDING $80mm bank, $40mm loans, $20mm C om m e rcial.................... $50,000 Outstate SENIOR VICE PRESIDENT, HEAD OF COMMER CIAL & CORRESPONDENCE LENDING, $200 + mm bank, $100mm in lo a n s ................................ $70,000Metro PRESIDENT $40mm suburban bank, no ag .......... ............................................................. $50,000 Metro PRESIDENT new charter, excellent location, stock options ............................... $40,000 Outstate CASHIER $80mm bank, solid c o n d itio n ................ ....................................................... $30,000 Outstate COMMERCIAL LENDER $100mm bank, Manage ment p o te n tia l.............................................. $40,000Metro JU NIO R C O M M E R CIA L LENDER, CREDIT ANALYST consumer experience $23,000 Outstate BANK SALES AND PURCHASES EDDIE A. WOLF Eddie Wolf Bank Sales 7202 Maple Drive, Des Moines, la. 50322 Phone: 515/278-2271 REAL ESTATE LENDER $50 + mm b a n k ................ ....................................................... $35,000 St. Louis COMMERCIAL LENDER $50 + mm bank, top loca tion, sound management .. $40,000-$45,000 Metro This is one of the finest selections of positions I have had. Every situation is personally known and the banks and management offer good reputa tions. BANKING O PPO RTUNITIES AG LENDER—in $25mm west IA bank. 1 + yrs len ding plus mktg skills. To handle diversified port folio. $20’s. Contact Barbara J. Ritta. TRUST BUSINESS DEVELOPMENT OFCR—2 openings in metro IA. 2 yrs bank Trust bckgrd plus mktg skills. JD an added plus. $35-42K. Contact Barbara J. Ritta. REAL ESTATE LENDER—$100mm MN bank 1 hour from Mpis. Work closely w ith MN Fin. Hous ing Authority. Business dev. Experienced in all types res. real estate. Salary to $32K. Contact Pamela J. Swenson. REAL ESTATE LENDER—$40mm Wl bank near metro. 4-5 years experience in all types loans. Compliance background an added plus. Salary to mid $20’s. Contact Pamela J. Swenson. PROFESSIONAL RECRUITERS, INC. P.O. Box 24227 Omaha, NE 68124 Phone: 402/397-2885 BANK POSITIONS REAL ESTATE LOAN • large suburban bank. AVP to handle construction, commercial and some single fam ily residen tial loans. $25K COMML LOAN - $50MM suburban bank. Some R.E. experi ence helpful. Requires 2-3 yrs. bank lending. $26K EVP - manage all lending activities for $125MM suburban bank. Opportunity to assume #1 position. $55K AGRI-LOAN - $30MM com m unity bank. Handle all Ag cred its and some commercial accounts. $30K SECOND OFFICER - small suburban bank desires com mercial lender to supervise junior officers. $35K Additional opportunities available. All inquiries confidential. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 14 No. 8 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, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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