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Vol. 13 No. 8 Continental Developments Continue— Illinois Finance Committee • Paves W ay for Out-of-State Bid a 0 0 0 0 # # June 11,1984 Des Moines, Iowa OP O FFIC IA LS of Continental Bank of Chicago obtained a six T to four vote by the Illinois Senate Committee on Finance and Credit Regulations for Continental’s propo sal to allow the bank to be acquired by out-of-state banks. In recent days Continental has received a massive infusion of more than $5 billion of working capital from federal regula tors and a consortium of about 30 banks. Current Illinois law prohibits ac quisition by out of state banks. First National Bank of Chicago, which has expressed its interest in acquiring Continental Bank and merging it with First of Chicago, also appeared before the Illinois Se nate Committee on its proposal that basically would give First National the first right of refusal if a sale is to be made. First Chicago Corporation Chairman, Barry F. Sullivan, told the legislators personally of his hold ing company’s interest in a potential acquisition. Continental Bank General Coun sel, Richard S. Brennan, told the leg islators that First Chicago’s propo sal would have the effect of stopping any outside bids from people interested in acquiring the bank. Several banks, both domestic and foreign, have been listed in various news reports as being potential ac quirers of Continental Bank. Among them are Citicorp and Chemical New York Corporation, both of New York City. 30th Annual UMACC Conf. Scheduled for Duluth The 30th Annual Conference of the Upper Midwest Agricultural Credit Council will meet Ju ly 4, 5, and 6 at the Duluth Holiday Inn, Duluth, Minnesota. This year’s con ference, “Farm Policy and Export Policy,’’ will feature national and re gional experts speaking on topics re lated to agricultural banking. The conference will include sessions on the outlook for ag exports: implica tions for farm income; export issues as viewed by buyers and sellers; poli tical and economic realities of the 1985 farm bill, and a session for UMACC members and their spouses on helping people cope in a changing environment in the agricultural sec tor. Keynote speaker, Kenneth R. Far rell, director of the National Center for Food and Agricultural Policy, Resources for the Future, Washing ton, DC, will discuss the political and economic realities of the 1985 farm bill. Mr. Farrell is involved in the development and execution of programs involving policy research and analysis, communications, and leadership development on national public policy issues involving food, nutrition, agriculture, international trade, natural resources, and the en vironment. Prior to joining Re sources for the Future, Mr. Farrell was with the U.S. Department of Agriculture for ten years where he was administrator of economics and statistics services. Other conference speakers are Jam es P. Houck, department of agri cultural and applied economics, Uni versity of Minnesota; Merle Hedland, executive director, Minnesota Association of Wheat Growers; Delmar J . Kloewer, assistant vice presi dent, commodity marketing divi sion, Cargill, Inc.; Dick Todd, econo mist, Federal Reserve Bank of Min neapolis; and Richard W. Little, di rector, Center for Business and Management—-Continuing Educa tion, University of Oklahoma. In addition to conference speak ers, discussion sessions, and a tour of selected agribusinesses in the area, a full schedule of family activi ties is planned, including tours of the Duluth harbor, Glensheen Man sion, and the Railroad Museum. Persons interested in attending ASK STAN FARMER to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank isi Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Norwest Bank Des Moines, N.A. NORWEST BANKS Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC Teamwork: one of the reasons we’re first in Iowa. Dennis Nahnsen Jan Townsend the conference may contact UM ACC Treasurer Art Grove at 612-251-3300. Registration will be open at the con ference on Ju ly 4 from noon to 5:00 p.m., followed by a family dinner. Directory Correction In the 1984 Iowa Bank Directory a typographical error was made in the phone number for the Kansas Ci ty office of the Regional Comptroller of the Currency. That number is at the top of page 12 and should be 816-374-6431, the same as it was last year. The number is listed cor rectly in the Nebraska Directory. Iowa News If you were unable to attend the May 31 teleconferences on Public Funds or The Lien Law, sponsored by the Iowa Bankers Association, you may still receive the informa tion by ordering the handout materials and a cassette tape of the teleconference. To receive workshop materials, contact Judi Carber at the Iowa Bankers Association, Des Moines. * * * The Iowa Bankers Association is sponsoring a Financial Futures and Hedging Workshop, June 14 at Stouffers in Cedar Rapids, and June 15 at Adventureland, Des Moines. The workshop will be presented by Powers Research, Inc., Jersey City, R E IN BECK: Lincoln Savings Bank of Reinbeck will hold an open house June 12 from 1-5:00 p.m. at its new ly completed Lincoln Office. The new facility, managed by Vice Presi dent Sam Martens, replaces one which was built in 1921. W EV ER: Farmers Savings Bank has announced the appointment of Daniel E . Jessen as executive vice president and managing officer. He succeeds Walter (Bud) Hayles, Jr., who recently retired. N .J., a financial consulting firm. Participation is limited to 50 peo ple at each site. Registration fee is Nebraska News $90 in advance for members and $115 for subscribers, and $100 at GRAND ISLAND: The merger of the door for members and $125 for Bankshares of Nebraska, Inc., with Norwest Corporation was completed subscribers. June 1. As a result of the merger, CEDAR R A PID S: Rad T. Fish has First National Bank is now Norwest been appointed vice president of Ci Bank Grand Island, N.A., and First ty National Bank, according to Gary Savings Company of Grand Island D. Peterson, president. He will be and First Savings Company of Kear responsible for the consumer lend ney are now branches of the bank. ing service that the bank plans to of S.N. Wolbach, chairman of the bank, fer. Mr. Fish has been employed for and Richard Spelts, Jr., vice chair seven years with an area bank, most man, will remain with the bank. Nor recently as vice president in charge man Nackerud, chairman of Nor of consumer lending. west Bank Hastings, N.A., has as sumed the additional position of DENISON: Donald A. Sommerlot president and chief executive officer has been elected president of Nor at Grand Island. west Bank Denison. He succeeds Jo e Vaage, who is retiring after 34 LINCOLN: Barry Lake, a former as years of service with Norwest Cor poration. Mr. Sommerlot previously sistant director for the Nebraska was senior vice president of the Nor Banking Department, was granted west State Bank in Atlantic, where reinstatement to his former job last week and then submitted his resig he has been the past 13 years. nation from the department. Mr. HARTWICK: Jam es B. Benda has Lake’s employment was terminated been named vice president and gen following the failure of Common eral counsel for Hartwick State wealth Savings Co. of Lincoln. He Bank. He was also elected to the requested a review by the state per board. Mr. Benda has served as fed sonnel system. Roger Beverage, re eral administrative counsel for the cently appointed state banking di Washington, D.C. office of the Inde rector; John Miller, an interim bank pendent Bankers Association of ing director, and former Special A t America since 1980. He will also torney General, David Domina, practice law in Victor, with Orville made the review and notified Mr. W. Bloethe. The firm will be known Lake, “You have done nothing dis honest or dishonorable and rein as the Bloethe-Benda Law Office. statement is warranted.” The settle ment provides Mr. Lake with $10,000 and about $14,000 in back pay* Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank ft DES MOINES, IOWA 50304 a Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BANKS OF IOWA BANK OMAHA: Ellen K. Tanner has been promoted to national bank examiner. Ms. Tanner, a graduate of Kearney State College, has been employed by the Comptroller of the Currency since 1979, most recently as an asso ciate national bank examiner. She will rem ain headquartered in Omaha. SHARP Z L -6 1 0 0 THE COMPANY THAT CREATED THE INDUSTRY & Electronic Calculator ADJUSTABLERATE MORT PRINCIPAL $50,000.00 PAYMENTS/YR 12 • o f PAYMENTS 300 TODAY’S DATE 515-1084 1ST PAYMENT DATE 614-1084 DAYS to PAYMENT *1 30 365 CALENDAR INTEREST RATE 13.5000« POINTS $1,000.00 PAYMENT $500.00 AMT. FIN. $4 9,000.00 APR 13.724% Financial Systems, Inc. Now Offers A Complete Line Of Software For The SHARP ZL-6100, As Well As The SHARP ZL-5400 And SHARP 4500 Series Calculators. Also Available: Limited Quantities o f Z L-5 2 0 0 s, C S -4 5 0 5 s, 45 0 0 s, 45 0 1 s, and 4502s. Programs Available Include: Installment Loan Balloon Payment Skip Payment Single Payment Real Estate w/ Points Amortization And: FHA/PM1 GPM's VRM's/ARM's GEM 's IRA's Other Options Available H U M S U M , M. P.O. Box 2012 Kearney, Nebraska 68847 Phone: 308-237-5995 Call For The Sales Representative In Your Area. Supplement to Northwestern Banker Newsletter 6-11-84 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis r* Al 1 AM TU C «DCDCADMAMAC TE A M ” ■m i where common transactions are handled uncommonly well. I II FIRST NATIO N A LLIN C O LN 13th & M Street • Lincoln, Nebraska 68501 • Member, FT).I.C. * Minnesota News W isconsin News 0 DULUTH: Norwest Bank Duluth, N.A. has announced the election of Mary Ellen Crain as assistant vice president, manager of the data pro cessing center. She joined the bank in 1976 and was promoted to opera tions officer in 1983. BROWN D EER : Richard Laabs has been named senior vice president, corporate planning and develop ment, and Michael Klemz, vice presi dent, commercial operations, of Brown Deer Bank. Mr. Laabs is a 12year veteran of the Wisconsin bank ing industry. Mr. Klemz has served in several management positions with First Wisconsin National Bank. ^ MINNEAPOLIS: Douglas J . Winter has been appointed vice president and cashier of Marquette National Bank at University. MIDDLETON: Gerald R. Shields has joined The Bank of Middleton as R ED WING: Richard J . Binette has a senior vice president in charge of been appointed vice president, com all lending functions. He previously mercial loans, of Norwest Bank Red was a vice president at First Bank Wing. Previously the managing offi Milwaukee. cer of Norwest Bank Silver Bay, Mr. Binette has been with Norwest Cor South Dakota News poration since 1958 serving in Du RA PID CITY: Norwest Bank Black luth, Hoyt Lakes and Silver Bay. Hills, N.A., recently advanced Doug ROCH ESTER: Herbert E . Swift, se Peterson, assistant vice president, nior vice president in consumer lend- to manager of the Mt. View branch; • mg, retired May 31 after six years Shirley Carlson to assistant vice with Norwest Bank Rochester and president and manager of the North 31 years with Norwest Corporation. branch, and John Hansen, ag loan He previously was with Norwest officer at the Belle Fourche office, to Bank Minneapolis as assistant vice assistant vice president. # president in charge of business de velopment for instalment loans. SIO U X FA LLS: At First Bank of South Dakota, N.A., Cathy Clark has been promoted to assistant vice president at the bank’s main office in Sioux Falls. Jerry Peterka was elected ag loan officer at First Bank Sturgis and Allen Rassmussen has been elected ag loan officer at First Bank Wessington Springs. SIO U X FA LLS: Norwest Corpora tion has moved to incorporate all its South Dakota banks under one char ter—Norwest Bank South Dakota, N.A.—and operate all presently chartered Norwest banks as branches under the new charter, according to C.P. Moore, president of Norwest’s Region VI. North Dakota News GRAND FO RKS: First National Bank in Grand Forks has promoted Lillian Ege to pension benefits offi cer and Douglas Carpenter to trust tax officer. Ms. Ege joined the bank’s staff in 1976. Mr. Carpenter, a CPA has been with First National since 1983. An important new profit center for your bank: Illinois News • CHICAGO: John E. MacArthur, well-known vice president in the cor respondent banking division at La Salle National Bank, has elected to take early retirement after serving ® with the bank for 24 years. Mr. Mac Arthur said he plans at this time to work on his farm after leaving the bank in a month or two. Contact: Leroy Bell or Milt Hennlck 319-291-5412 _ ■F L E a*computerized '0 " P* K wmwm local bllllng/credit service National Bank of W aterloo 315 East 5th St. • W aterloo, IA 50704 „mber M Res,r>eS>slemrac A T T E N T IO N B A N K E R S ! Are you so busy doing your job that you’re forgetting your career? Y ou’re confident of your skills and proud of the fact that you are doing a good job. But, in the rush of today’s respon sibilities, are you missing tomorrow’s opportunities? We at Zidel & Associates, Inc. are dedicated to helping EXPERIENCED BANK OFFICERS find these opportunities. Between Zidel & Associates and our 3 0 affiliate offices we have over 2 5 0 openings for EXPERIENCED BANK OFFICERS such as commercial lenders, trust officers, mortgage lenders, secondary marketing officers, loan workout officers, loan recovery officers, LPOs, construction lenders, opera tions officers, bank product marketing officers and many more. Salaries range from $ 2 5 ,0 0 0 -$ 8 0 ,0 0 0 . These are just a sample. All positions require CURRENT BANKING EXPERIENCE. Call or send your resume. Telephone answered until 8 :0 0 P.M. (CST). MARK ZIDEL Zidel & Associates, Inc. P.O. Box 3 7 830 Omaha, Nebraska 68 1 3 7 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis WE CAN HELP! Phone: 1-402-895-4848 4 WANTADS Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi dential Employers pay us to hire the best. Financial Careers President for $50 m illion Illinois bank. Must have proven re cord......................................................................... To $70,000. Number Two banker w ith commercial and ag lending record for Iowa bank in $50 m illion deposit range.............. ............................................................................... To $42,000. Cashier fo r $30 m illion southern Iowa bank. Ideal working conditions and recreational area...................... To $28,000. Number Two person for southern Illinois bank. Excellent s itu a tio n ................................................................... To $35,000. ^ Ag Lender fo r $60 m illion northern Iowa bank. Opening due to retirement. Nice com m unity.................. To $28,000. NORTHWESTERN BANKER 3 0 6 -15th Street Des Moines, Iowa 50 3 0 9 Phone 515/ 244-8163 Commercial Lender for southern Minnesota, multi-bank holding company bank........................................................ To$30,000. Linda: 515/394-5827 New Hampton, la. 50659 ■ Jean 515/263-9598 if no answer, 712/779-3567 Massena, Iowa 50853 30/7 G4REERS, INC. POSITION AVAILABLE ■ * AG BANKING SPECIALISTS SENIOR COMMERCIAL LOAN OFFICER—$100 m illion as set eastern Nebraska bank desires seasoned commercial loan o ffice r to manage portfolio. Salary commensurate w ith experience. Contact 402/727-1100. (PA) VICE PRESIDENTfAQRICULTURAL LOANS— Excellent career opportunity. Requires bachelor's degree (emphasis in agricultural subjects preferred) and a minimum o f 3 to 5 years experience in ag lending. The individual must pos sess a working knowledge o f agriculture, including the production o f grain and livestock. Salary commensurate w ith experience, plus excellent benefits. Contact: Steven L. Afdahl, President, Hawkeye Bank and Trust, P.O. Box 4068, Spencer, Iowa, 51301. Phone (712) 262-1940. Member Hawkeye Bancorporatlon. (PA) COMMERCIAL LOAN OFFICER— Experienced lender to fill new office r position created by loan growth. Minimum 5 years commercial lending experience required. Send re sume and salary requirements to: Roger A. Wichelman, Pres., First National Bank of Waconia, Klein Bancorpora tlon Inc., Box 85, Waconia, MN 55387. (PA) AGRICULTURAL LOAN OFFICER in SE Iowa w ith three to five years experience in ag lending. Need to have know ledge of cash flows, financial statements, and documenta tion. Send resume to file WBH, c/o Northwestern Banker. ____________ Ag Banking Personnel (PA) INSURANCE AGENT $26 m illion southwest Minnesota community bank seeks experienced insurance agent. Salary open. Send resume to file WBK, c/o Northwestern Banker. (PA) CASHIER—$20 m illion central Iowa bank near Ames and Des Moines. Should have a minimum 3-5 years bank exper ience. Would also make loans. Salary based on ability and experience. Good fringe benefits. W rite file WBM, c/o Northwestern Banker. (PA) LOAN OFFICER— Promotion creates opening for experi enced lender to handle sound portfolio o f small to medium retail, wholesale and manufacturing accounts in a pro gressive bank located in a solid agri-business community. Send resume in confidence to: First National Bank, Box 658, Montavldao, MN 56265._______________________ (PA) CASHIER/LOAN OFFICER o f $18 m illion bank seeking responsible position in medium or large bank w ith future opportunities. Handle operations, lending, personnel and regulatory reports. BA in Finance. Send inquiries to file WBP, c/o Northwestern Banker. (PA) SECOND OFFICER—$15 m illion asset broadly owned com m unity bank in Butte, Montana, seeks person w ith several years operations experience who is w illing to assume substantial responsibility. Send resume to Jerry James, C.E.O., First Citizens Bank o f Butte, P.O. Box 3149, (PA) Butte, MT 59701._________ LOAN AND BUSINESS DEVELOPMENT OFFICER— For growing eastern Colorado bank. Operations experience a plus. Degree preferred. Forward resume and salary history to file WBO, c/o Northwestern Banker. (PA) ^ Number Two person fo r northeast Iowa com m unity bank. ............................................................................... To $35,000. Lender for $50 m illion bank located in lake areaTo $28,000. Auditor w ith CPA degree and bank experience for major eastern Iowa bank........................................................ Salary open. Loan Review Officer for major bank holding com pany----............................................................................... To $35,000. FOR SALE Ag Lender for northeast Iowa com m unity bankTo $30,000. NCR 279-100 TELLER MACHINES— NCR 279-200 TELLER MACHINES. A il eligible fo r maintenance. Contact: Omaha Computer Exchange. Phone 402/333-3203. (FS) BURROUGHS L-3000— Contact Brian, phone 515/562-2696. _______________________________________________ (FS) SIX MILLION DOLLAR BANK—Outstanding earnings. Located in Illinois town of 1,000. Clean. Contact file WBN, c/o Northwestern Banker. (FS) Ag Lender for community bank located on M ississippi........ ................................................................................. To $25,000. Ag Lender for $100 m illion Iowa bank. Requires college de gree and bank experience.....................................To $30,000. Commercial Lender with five or more years experience for $300 million Illinois bank.....................................Salary Open. ® W rite or call Malcolm Freeland or Cy Kirk at Freeland Financial Service, Inc., 1010 Equitable Building, Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee, and we have many other opportunities. MUNICIPAL BOND SERVING PROFESSIONALLY We are looking fo r an experienced m unicipal bond sales person to take over and expand the sales manager’s territory, which is already developed. This is a tremendous opportunity for the right per son to join a rapidly growing department. Phone Jan Nolander at 612/341-6578 for more information. Banking, Financial & Business Personnel Iowa and Nationwide F & M MARQUETTE NATIONAL BANK 6th & Marquette Minneapolis, MN 55480 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 Equal Opportunity Employer FOR LEASE MOBILE BANK UNIT— 12’x62’ complete banking equip ment. Includes drive-up window, night depository, tw o tel ler stations, private office o ff lobby. AVAILABLE NOW. Drommer Leasing, 401 Queens Court, Sioux City, IA 51104. Phone 712/239-2315. (FL) BANKING PLACEMENTS “Successful Banking is Quality Personnel” Eighteen years banking experience serving as president o f rural and m e tro po lita n banks enables me to fin d th e “ rig h t” banking p o s itio n fo r you as a banker o r the “ rig h t” o ffic e r fo r yo ur bank. tX3N ^ C H O O L E R In AND i j i Sy CAPITAL PERSONNEL SERVICE (PA) ASSOCIATES 2508 East Meadow • Springfield, Missouri 65804 417/882-2265 COMPLETELY CONFIDENTIAL ______________“ E m ploym ent Service" ___________ BANKERS - OPPORTUNITIES ExVP/Commercial Lender, 100mm bank, near Omaha $35-42K. Commercial Lender, 200mm metro bank, Montana, excel lent growth potential in progressive organization, benefits equal 42% of salary base, 3 yrs. commercial lending back ground required $32K. Commercial Lender, Omaha-Council B luffs metro area. 3 yrs. commercial lending required. Degree preferred $35K. Ag Lenders, NE com m unities o f 7000 + , salary to $30K. SW Iowa $23K. DIEBOLD 906 OR 910 FREESTANDING ATM—Contact Ken or Ron at 402/288-4242. (WTB) Commercial Lender fo r large western Iowa bank. Requires at least 5 years experience w ith larger b a n k .. .To $35,000. All inquiries are held CONFIDENTIAL. No fee or obliga tion. Contact Barbara Rltta, PROFESSIONAL RE CRUITERS, INC., 6818 Grover, Omaha, NE 68106, Phone 402-397-2885. (PA) BANKS FOR SALE BANK OWNERSHIP CHANGES —Our Specialty— SELLERS - if you already have a buyer fo r your stock and there is a question of whether or not it is a fair price - we can make an independent ap praisal. BUYERS - if you are about to purchase controll ing interest in a bank and there is a question of whether or not it is a fa ir price -we can make an in dependent appraisal. Those wishing to buy or sell - we can do the job for you if you are serious. CROWN BANKING SERVICES 325 W. Prospect Avenue Mt. Prospect, Illinois 60056 (312) 392-5151 POSITIONS AVAILABLE COMMERCIAL/INSTL. LOAN - $80MM bank w ith large con sumer loan portfolio seeks experienced lender to under study senior loan officer. $25,000 CASHIER - $25MM com m unity bank. Handle operations, personnel and regulatory reports. Third man position. $25,000 ™ AGRILOAN - senior position in $35MM rural bank. Some experience w ith commercial credits desired. $35,000 COMMERCIAL LOAN • $60MM suburban bank. Requires three or more yrs. commercial lending experience and good business development skills. $33,000 A ^ PRESIDENT - major midwestern holding company seeks experienced CEO w ith strong agricultural loan back ground to manage $45MM a ffilia te bank. $ Open All inquiries confidential. Resume’ requested. TOM HAGAN & ASSOCIATES f P.O. Box 12346 - 2024 S w ift North Kansas City, MO 64116 816/474-6874 W “Serving the Banking Industry Since 1970” Vol. 13 No. 8 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, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis #