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• ‘ Incredible’ E lectronic Changes Seen HANGES during the past 25 years may be an appetizer for more incredible changes the finan cial industry will face during the next five years, predicted a keynote speaker at the American Bankers Association’s National Operations and Automation Conference, the world’s largest exposition of bank ing related equipment and technologySpeaking before a record crowd of more than 3500 attendants at the Miami Beach Convention Center, Robert B. Sabeck, executive vice president at Valley National Bank, Phoenix, suggested that efficient, surviving banks of the 1980s and 1990s will be strongly oriented toward electronics. “ When teller-assisted banking costs us between 50 cents and a dollar per transaction — and auto matic and self-service banking costs 10 or 15 cents — it will be a matter of survival to make the switch,’’ said Mr. Sabeck, who is also chairman of the ABA Operations and Automa tion Division, which sponsors the annual conference. Banks should contain costs and reduce operating expenses through a never-ending war on paper. He called the check “ the number one source of paper pollution.” “ With modern electronic banking vehicles, bankers have the weapons C ® • _ ® ^ ^ ^ a a June 13,1983 Des Moines, Iowa Vol. 12 No. 8 in hand to reduce the paper and benefit the customer. “ Bankers should be able to devel op a highly reliable, low-cost, risk sensitive, comprehensive electronic funds transfer substitute,” he asser ted. Non-bank competitors, such as Merrill-Lynch and Sears, have al ready discovered that funds transfer business can be profitable. In that regard, Mr. Sabeck called archaic the system used by banks for returning checks that are not honored. It is the major reason for banks to delay availability of funds on checks, he said. “ Considering the state of the art of the electronic equipment each of us uses each day, it shouldn’t take 10 to 15 days for a bum check to make the rounds of our modem bank ing system,” he said. A study and pilot program under way in Dallas, undertaken jointly by the American Bankers Association and the Federal Reserve, would speed up the lengthy process of routing items through a labyrinth of processing banks.” “ If this program shows we can limit the return item process to only two banks — the maker bank and the first endorsing bank — then we will be one step closer to avoiding costly and unworkable federal legis lation.” Turning to other matters, Mr. Sabeck called the Federal Reserve “ an enigma,” as both a banking regulator and a competitor. “ Competition creates a healthy environment, but it sticks in a banker’s craw to stumble over one of the Fed’s traveling salesmen one day, and then get a new regulation in the mail the next. “ However,” he noted, “ it’s time for bankers to do less complaining about the Fed and start doing more competing. If we can’t compete at a lower cost and more efficiently than a governmental operation, then there’s something seriously wrong with us and with our industry.” Mr. Sabeck suggested that banks rely too much on the Fed systems in stead of developing more efficient means of delivering services. Automated teller machines, debit card equipment, home banking equipment, point-of-sale terminals, m icrocom puters, telecomm unica tions systems and check processing equipment is just a sample list of the banking technology displayed by more than 200 exhibitors for bank ers attending the conference. □ UMACC Meets July 6-8 In Spearfish, S.D. The 28th annual convention of the Upper Midwest Agricultural Credit Council will be held July 6-8 at A S K D O U G K E IPE R to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank is i 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 T ea m w o rk: one o f the reasons w e’re firs t in Iowa. Tom Quinlln Dennis Nahnsen Spearfish Holiday Inn, Spearfish, S.D. Registration, a social and bar becue make up the first day. The business program begins July 7 at 8:30 a.m. with a look at “ LongTerm Prospects for the Agricultural Sector,” given by Lynn M. Daft, vice president of Schnittker and Associates, Washington, D.C. Later in the morning, Richard O. Hawk ins, professor and extension econ omist, agricultural and applied economics, University of Minnesota, will discuss “ Computer Technology in Agricultural Lending.” Both speeches will be followed by a ques tion and answer period. Thursday afternoon will be de voted to an agribusiness tour of Famers and Ranchers Co-op Wool Processors in Belle Fourche. That evening, buses will take registrants to Spearfish City Park for a social and Mountain Trout Fish Fry. After the dinner, they will view The Black Hills Passion Play in the nearby out door amphitheater. The Friday progam starts at 8:30 a.m. with “ Dergulation, Agricul tural Lending and Profitability.” Speaking from the perspective of a regional bank holding company will be Holmes Pedelty, Agriculture Business Group, Norwest Corpora tion, Minneapolis. Speaking from the perspective of a North Dakota thrift institution will be R.C. Crockett, consultant and economic advisor, Metropolitan Federal S&L, Fargo. A question and answer period will follow. The concluding session of the con vention later Friday morning will feature Dr. Ron L. Fronk, Learning Programs of America, Minneapolis, on “ Improving Management Skills: Coping with Stress.” The conven tion will adjourn after the noon lun cheon. Iowa News The Iowa School of Banking will be held June 19-24 at the University of Iowa, Iowa City. COLLINS: Exchange State Bank re cently filed an application with the Office of the Comptroller to convert from a state to a national associa tion. If approved the bank will fur ther apply to establish a banking facility in Nevada. The bank's new name would be Exchange National Bank of Story County, with busi ness facilities in both Collins and Nevada. czH oÎ îI ex arid cdfis.ociate.1 Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 D o n a l d E . H o l d e r , Principal TOWN HOMES FOR SALE At Pre-Construction Prices With 121/2% * Financing Available D W AYN E SM ITH Paradise Properties B ox S Dillon, Colorado 80435 Phone 1-800-922-2590 'S u bje ct To Change MARION: Robert L. Foust has been appointed senior vice president/commercial business group, of Norwest Bank Marion, N.A., according to Larry H. Hansen, president. Mr. Foust has been associated with Mer chants National Bank of Cedar Rap ids for fifteen years, the last three as vice president in commercial loans. THURMAN: Thurman State Bank has filed application with the Comp troller of the Currency to convert from a state to a national associa tion, with the new bank name to be United National Bank of Iowa. Nebraska News KEARNEY: David Henricksen re cently was promoted to vice presi dent and cashier of First National Bank & Trust Co. Mr. Henricksen joined the bank in 1972 and has served as cashier and chief opera tions officer since June, 1980. FORT MADISON: Larry Wenzl has been elected vice chairman of the Iowa State Bank, in a management supervisory position. He also has similar positions with Panora State OMAHA: Jim Campbell, chairman Bank, University Bank & Trust, of Norwest Bank Omaha, has an Ames, and three Illinois banks. Mr. nounced the appointment of LeRoy Wenzl, chairman of Hawkeye-Capi- G. Bower as vice president and man tal Bank & Trust in Des Moines will ager of the commercial real estate remain part-time with Hawkeye Bancorporation until September, Ag Banking Personnel 1984. Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi dential. Employers pay us to hire the best. Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank ft DES MOINES, IOWA 50304 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Member FDIC Linda: 515/394-5827 Jeannie: 515/263-9598 If New Hampton, la. 50659 no answer, 712/779-3567 • Massena, Iowa 50853 eonCAREERS, INC. ■ j THE ORIGINAL AGRICULTURAL RECRUITER MFHutton One Carriers Building Des Moines, Iowa 50309 Telephone: (515) 243-1203 NEW ISSUE MOODY’S: A1 We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: $ 820,000 MUSCATINE, IOWA General O bligation Corporate Purpose Bonds DATED: June 1,1983 DENOMINATION: $5,000 Both principal and semiannual interest (June 1 and December 1; first coupon due December 1,1983) payable at the office of the City Treasurer, Muscatine, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITIES $55,000 60,000 70,000 $75,000 $75,000 $85,000 8 1/2% June 1, 1985 June 1, 1986 June 1,1987 7.30% June 1,1988 7.60% June 1,1989 7.90% June 1,1990 ' 6.00 6.50 6.90 $ 95,000 7.30 $105,000 7.60 $110,000 $ 90,000 8.10% June 1,1991 8.30% June 1, 1992 8 1/2% June 1,1993 8.70% June 1,1994 8.10 8.30 8.50 8.70 7.90 LEGALITY TO BE APPROVED BY BELIN, HARRIS, HELMICK & HEARTNEY, DES MOINES, IOWA The City of Muscatine, the county seat of Muscatine County, is located in southeastern Iowa on the Mississippi River. The City is located 160 miles east of Des Moines and 200 miles west of Chicago. Being adjacent to the deep channel of the Mississippi River, economic river transportation is available and the City is often referred to as the “ Port City of the Corn Belt.” Major employers located in the area include: Bandag Inc. (tire recapping); Grain Processing Corp. (alcohol and vitamins); Heinz USA (foods); and Hon Industries (office furniture). Banking deposits during 1982 exceeded $247,980,000, supporting taxable retail sales activity of $129,433,576. Transportation is provided by U.S. Inter state 80 (14 miles north), U.S. Highway 61, Iowa primary highways and a new Interstate Toll Bridge providing Highway 92 access over the Mississippi connecting downtown Muscatine to Rock County, Illinois. Commercial air transportation is available in the Quad City Airport located in Moline, Illinois, 45 minutes away. These bonds are being issued to pay a portion of the cost of constructing various improvements throughout the City. FINANCIAL STATEMENT Actual Valuation, 1982 Assessed Valuation, 1982 Net Direct Debt, including this issue Net Direct O v e rla p p in g Debt Population, 1980 estimate: 23,467 Net Direct Debt:: $320.45 per capita Combined Net Debt: $544.92 per capita $404,888,644.00 515,510,998.00 7,520,000.00 12,787,606.00 The inform ation contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of a particular m aturity may or may not s till be available or may now be available at a price or yield different from that indicated above. Supplement to Northwestern Banker Newsletter 6-13-83 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 6*13-83 Now Available 1983 Bank Directories Accurate, up-to-date information on every bank in the state, concerning: • • • • • Officers and Directors Deposit, Loan and Security Holding figures Other offices away from main bank Addresses and phone numbers Departments within the bank and their officers Correspondent banks used NEW 1 9 8 3 E D IT IO N S Yes! copies of the 1983 edition of the Send me. IOWA Bank Directory at $12.00 per copy. copies of the 1983 edition of the Send me. NEBRASKA Bank Directory at $8.00 per copy. Nebraska — Nearly 200 pages. Iowa — Over 300 pages. Our check is enclosed fo r $_ CONVENIENT TO USE...lies flat for reading or copying (pages 3 1/ 4 " x 6 V2 "). Com pany Name. O ffice r Name__ P.O. Box or Street Address. .Zip C ity and S tate. Orders shipped by return mail https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis _(add sta te tax: Iowa @ 4% Nebr. @ 3 1/2 %) Phone _______ Area Code NORTHWESTERN BANKER 306-15th St. Des Moines, Iowa 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CALL ON THE “PERFORMANCE TEAM” where comm on transactions are handled uncomm only well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 » Member, F.D.I.C. department. Mr. Bower joins the bank from the Don J. McMurray Co., a division of Rothschild Finan cial Corporation, where he was re sponsible for the presentation of commercial real estate mortgages to investors. An important new profit center for your bank: Contact: - F L E aVcomputerized ° ~ pA K ■ w local billing/credit service Minnesota News BYRON: R.F. Williams, president and chairman of State Bank of By ron, has sold the bank to a consor tium of bankers headed by Lloyd A. Amundson and Dale Harberts. Mr. Amundson has many years of varied banking experience. Mr. Harberts currently is vice president and cashier of State Bank of Byron, where he has served since the first part of this year. R.C. Schaefer, ex ecutive vice president, will continue in the same capacity. Mr. Williams, D.W. Campbell, K.L. Vail and Hilda N. Williams will retire from the board. Leroy Bell or Milt Hennick 319 291-5412 - National Bank of Waterloo 315 East 5th St. • W aterloo, IA 5 0 7 0 4 Illinois News An Illinois community banking association warned recently that the decision as to what group will buy Chicago’s ailing First Federal Sav ings and Loan Association could ser iously affect all Illinois financial in stitutions and their customers. The Independent Community Banks in Illinois, representing more than 400 Illinois banks, revealed that bids to purchase First Federal have apparently been submitted by CRYSTAL: The board of directors Sears, Roebuck and Company and of Crystal State Bank has elected Citicorp of New York through its re Michael S. Higgins as president and cent acquisition, Fidelity Savings chief operating officer and J.J. Chor- and Loan of California. omanski as chairman and chief exec “ Cross-industry, interstate acqui utive officer. Mr. Higgins joined sitions of financial institutions, Crystal State Bank in 1980 from whether failing or not, should be Midland National Bank. Mr. Choro- avoided,’’ stated Richard A. Loundy, manski became cashier when the ICBI Cook County area regional bank opened in 1954, and was named vice president and president of the president in 1963. Devon Bank in Chicago. “ Approval of bids by non-banks or out-of-state banks would ger SERVING PROFESSIONALLY minate the seed of unrestrained in Banking, Financial & Business Personnel terstate acquisitions planted by the Iowa and Nationwide few giant conglomerates that are CAPITAL PERSONNEL SERVICE poised to become financial super 714 U.C.B. Building, 515-283-2545 markets,” explained Mr. Loundy. Des Moines, Iowa 50309 “ Congress should carefully examine M em ber Federal R e se rve System FD IC the entire spectrum of financialservice providers to determine the ground rules before the proverbial cow wanders out of the barn and in to the field.” The Illinois Legislature has solid ly opposed the infiltration of Citi corp and other out-of-state giants in to Illinois by repeatedly rejecting Citicorp-sponsored legislation to authorize reciprocal interstate bank ing. A decision on the acquisition of First Federal is expected within the next week. South Dakota News HURON: Jim Hendricks has been elected vice president of Farmers and Merchants Bank. Mr. Hend ricks brings with him 20 years ex perience in instalment and commer cial loans in southeast South Dakota. BANK SALES AND PURCHASES EDDIE A. WOLF Eddie Wolf Bank Sales 7202 Maple Drive, Des Moines, la. 50322 Phone: 515/278-2271 Loan participation through us can help improve your bottom line For that reason, banks in Iowa depend on Correspondent Banker Dick Flesvig # https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis First Bank Saint Paul M em ber First Bank( System Correspondent Banking Division 332 Minnesota Street Saint Paul, Minnesota 55101 (612)291-5577 BANKERS AVAILABLE CEO w ith proven high performance record in $40 million community bank seeks new opportunity. . .Salary $45,000 Commercial Lenders w ith experience ranging from three to 20 years..................................................Salary to $50,000 Senior Ag Lenders w ith experience ranging from 5 to 20 years........................................................... Salary to $40,000 Junior Ag Lenders w ith one to five years experience. .....................................................................Salary to $25,000 Administrative Officers w ith major banking experience. .....................................................................Salary to $50,000 Installment Lenders w ith over five years banking ex perience......................................................Salary to $25,000 Operations people w ith over five years experience............. .....................................................................Salary to $30,000 If you are considering an additional officer, we have dozens of qualified applicants listed in most job cate gories. Write or call Malcolm Freeland c/o Freeland Finan cial Services, Inc., 1032 Carriers Bldg., Des Moines, IA 50309. Phone 515/282-6462. Employer pays reasonable fee. Buy • Sell • Lease All IBM Systems and Peripherals We specialize In Banking Equipment Immediate Availability Guaranteed M/A 1255-1, II, III S/4300 1419-1 S/34, 38 3614-All Models S/3600 3624-All Models S/4700 NCR 1780 Diebold 910 Contact: Tom Garlie =. =g= Computar Associated Computers, Inc P.O. Box 120 • Rogers. M N 55374-0120 • (612(428-2285 We are professional truck people w ith over 30 years experience dealing w ith repossessed trucks, semi tractors and trailers. No obligation for our advice. MURPHY TRUCK & TRAILER SALES 15-5th Ave. S.E. 515/456-2511 HAMPTON, IOWA 50441 $104 m illion in assets, 32,000 member credit union. Quali fied applicants only. Please send resume to: Central Surveys, Inc. P.O. Box 100 Shenandoah, Iowa 51601 ____________ (712) 246-1630____________ POSITION AVAILABLE INSTALLMENT LOAN MANAGER for $75 m illion west cen tral Minnesota bank. Send resume to file TBX, c/o North western Banker. (PA) BANKING If you would like to evaluate your career, my clients across the country have a wide range of needs in operations, lending, and trust. Salaries are in the $20-80,000 range. Clients pay our service charge. Call or write: Walt Heyne, Dunhill of Fayetteville Box 1570, Rogers, Arkansas 72756 Phone: 501/636-8578 A ffiliated Midwest Bancs Inc., a progressive group of six banks is looking for a COMMERCIAL LOAN OFFICER for a $33 m illion bank in S.E. Nebraska; and an AGRICULTURAL LOAN OFFICER for a $60 m illion bank in central Iowa. Prefer 3-5 years experience for both positions. Salaries commensurate w ith experience. Send resumes to Jack Ayres, P.O. Box 486, Bellevue, NE 68005.____________ (PA) The National Bank of Waterloo, Iowa, has opening fo r a CORRESPONDENT BANK OFFICER. Need strong experi ence in lending and operations. Send resume to Diane Good, c/o National Bank o f Waterloo, 100 East Park Ave., Waterloo, Iowa 50704. (PA) LOAN OFFICER POSITIONS AVAILABLE All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma President, $45mm, agricultural bank Open $28,000 #2 Man, Ag Lender, sm a llto w n to $30,000 Vice Presldent/Head of Commercial, metro to $50,000 Leasing Officer, excellent location $27,000 President, $10mm bank, small town Challenging opportunity in all phases o f bank lending. Strong consumer loan background ne cessary. Commercial and agricultural loan back ground a plus. Excellent opportunity for advance ment. Send resume and salary requirements to: Jack Ellis, Senior Vice President, State Bank of New Prague, 201 Central Ave. N., New Prague, MN 56071. (PA) to $30,000 Commercial Vice President, métro to $54,000 Head of Crédit Department, métro to $38,000 Positions available change as more openings become avail able or as positions are filled. If you are interested in making an advancement or change in your present situation, as a candidate registered w ith me, you w ill be informed as posi tions come available that would appeal to you based on what YOU want in a bank, in salary, in location, and in size of town or city. I do not reveal your name to a client bank un til you are interested in interviewing. Eighteen years o f banking service as President of both rural and m etropolitan banks enables me to find the right bank ing environment for you. Phone or send resume to: Don W. Schooler, 901 A. West Jackson, Ozark, Missouri 65721. Phone (417) 485-6020^ COMMERCIAL LOAN OFFICER Must have a minimum of 3 years commercial lend ing experience preferably in a commercial bank. Position requires a working knowledge of State and Federal laws and regulations as they relate to banking. Responsibilities w ill include originating, negotiating, servicing, supervising, and collecting loans. Excellent benefits and salary commensurate with experience. All inquiries w ill be kept in strict con fidence. Contact Lois Kriebs, AVP, Personnel, (515) 245-6142, for an interview or send resume to the Personnel Dept. Valley National Bank 6th & Walnut P.O. Box 906 Des Moines, Iowa 50304 'A S S O C I A T E S "Successful Banking is Quality Personnel" Banking Employment Service CEO for community bank in eastern Iowa. Salary to $33,000 Number Two Person for northwest Iowa bank..................... ...................................................................... Salary to $30,000 Installment Officer for northern Iowa bank Salary to $24,000 Number Two Person for central Iowa com m unity bank. . . . ......................................................................Salary to $25,000 Operatlons/lnsurance person for northwest Iowa b a n k .. . . ...................................................................... Salary to $25,000 Commercial Lender for W isconsin bank. Salary to $30,000 Write or call Malcolm Freeland, Freeland Financial Ser vices, Inc., 1032 Carriers Bldg., Des Moines, IA 50309. Phone 515/282-6462. Employer pays fee. WANT TO BÜY HAVE BUYERS—Want bank in northern Illinois with total assets o f $25MM to $200MM. W rite file UBA, c/o North western Banker. (WTB) MODULAR DRIVE-UP BUILDING— used but in good condition. Must be able to move. Phone Mr. Dunn at 815/747-3177 (days). (WTB) Why Not a Higher Paying Position? Call us and lets talk about your banking career. R.E.B. & Associates Executive Search Consultants 13625 C. St., Omaha, Nebraska 68144 Phone: 402/333-8248 or 333-6604 FOR SALE BANKS FOR SALE—$22MM-ldaho, $15MM-Colorado, $16MM-Montana. Clean, profitable banks. Principals only. Write file TBZ, c/o Northwestern Banker. (FS) FOR SALE 1. Remington-Rand Rotary Check-veyor, Model 70, 9 levels, good condition. $1,000.00. 2. Bell & Howell Director I M icrofilmer, w/endorser and stand. Continuous Service Contract Available. $600.00. VALLEY NATIONAL BANK OF FREMONT COUNTY Hamburg, IA 51640 Phone (712) 382-1212 Alan B. Fender, EVP (FS) POSITIONS AVAILABLE SECOND OFFICER— handle comm’l and ag credits for $40MM community bank. Opportunity to assume #1 posi tion. $38,000 OPERATIONS OFFICER—#3 position in $45MM bank. Re quires degree and 5 yrs. + experience in sim ilar size bank. $32,000 $35,000 Senior Operations Officer, small town IC H O Q L E R lr Senior Ag Lender for major Iowa bank. .. Salary to $40,000 EXECUTIVE BANK RECRUITING ...Since 1937 Commercial Lender, lake area, $60mm bank Commercial Lender for major bank in central Iowa............. ......................................................................Salary to $40,000 Ag Lender for southern Minnesota bank. Salary to $30,000 Layton M. Stump, Manager John Deere Employees Credit Union P.O. Box 6000 Waterloo, Iowa 50704 <p a ) MARKET RESEARCH COMMUNITY ATTITUDE SURVEYS CEO for western Illinois bank of $30 m illion. Emphasis on ag lending............................................................Salary Open Audltor/CPA for progressive western Iowa bank................. ...................................................................... Salary to $25,000 MARKETING MANAGER REPOSSESSIONS POSITIONS AVAILABLE CEO for $60 m illion northern Iowa bank. Must have solid ag credit and adm inistrative experience.........Salary Open An Equal Opportunity Employer EXECUTIVE VICE PRESIDENT—excellent lending and ad m inistrative skills required for aggressive $50MM bank. $45,000 CASHIER—rural $50MM bank. Position offers advance ment possibilities. Prefer degree and asset/liability management experience. $30,000 AGRI-LOAN—$30MM com m unity bank close to large ur ban area. Handle ag and some comm’l credits. $28,000 INSTALLMENT LOAN—bank experience required. Enter as #2 in $4MM dept, and assume management of dept, within one yr. $18,000 Resume' and salary history requested. TOM H A G A N & ASSOCIATES of Kansas City 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 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, $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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