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• Voi. 17 No. 9 Des Moines, Iowa June 13,1988 F irst Bank System Nears Agreement to * Buy Central Bancorporation, Denver w ^ ^ A 0 0 0 To acquire CBI, F B S would have to prevail in two complex bidding processes, one established by recent Colorado legislation, and one in volving a trustee pursuant to the agreement under which Ameritrust holds its interest in CBI. Should F B S reach a definitive agreement with Ameritrust, the acquisition would be subject to regulatory ap proval and other customary condi tions of closing. Final terms will be released when a definitive agree ment is signed. The Colorado legislation esta blished a procedure to solicit bids from parties in order to provide financial relief to the depositors of 10 failed Colorado industrial banks which have been placed in receiver ship. Winning bidders from states outside Colorado’s interstate bank ing region would be permitted to ac quire a Colorado bank holding com pany prior to interstate banking tak ing effect in Colorado on January 1, 1991. The legislation provides for up to two successful bidders if one of them acquires an existing out-ofstate bank holding company’s posi tion in a Colorado bank holding com pany. Ameritrust’s investment in CBI meets this definition. IR ST Bank System, Inc., Min neapolis, announced June 1 that it is in the late stages of negotiating a definitive agreement to purchase a controlling interest in Central Bancorporation, Inc. (CBI), of Denver, Colo. If completed, F B S would ac quire the 87 percent interest in CBI held by Ameritrust Corporation of Cleveland, Oh. F B S would be per mitted to exercise full operating control. CBI is a $2 billion bank holding company controlling 19 Colorado commercial banks, the largest of which is Central Bank of Denver. “We expect a successful resolution to these negotiations by the end of June with terms that will be bene ficial for our shareholders,” said D.H. Ankeny, Jr., chairman and chief executive officer of First Bank System. “We anticipate this to be an all cash transaction that will have a positive effect on earnings once the acquisition is fully integrated. The acquisition of CBI would enable us to serve the Colorado market at least two years prior to 1991 when nationwide interstate banking takes effect in Colorado.” Regional interstate banking will be permitted by Colorado starting July, 1988. F F B S also confirmed that it has submitted a bid to the Colorado receiver, but there can be no as surance that it will be declared a winning bidder. Ameritrust has stated that it is essential that the Colorado early bidding process be completed before the end of June to allow Ameritrust to complete its decision-making process regarding CBI. First Bank System, Inc. is the lar gest bank holding company head quartered in the Upper Midwest, with assets of $25.6 billion. It is comprised of its lead bank, First Bank, with 32 locations in the Minneapolis-St. Paul area, and 25 other banks and trust companies, with 60 banking offices in Minnesota, North Dakota, South Dakota, Montana, Washington and Wisconsin. The company also provides financial ser vices through a number of domestic and international subsidiaries and offices. □ Iowa News D E S M O IN ES: M cGladrey & Pullen, the nation’s 11th largest cer tified public accounting firm, has am Together We Can Accomplish Great Things Call Dick Retz, MNB Correspondent Banker 319 368-4806 or Toll Free 1 800 332-5991 - - _The~ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Strength Eastern |owa Merchants National Bank - 2 SS±SE Norwest Bank Des Moines, N.A. NORWEST B A N K S Call (515) 245-3131 or toll-free (800) 362-2514 M Member FDIC M H Dorothea Wolfe nounced it has purchased Hamilton Associates, a Des Moines-based per sonnel recruiting and consulting company. The merger took place on June 1. According to Hamilton A sso cia te s P resid en t Thom as Hamilton, his five-member staff will move to an office ad join ing McGladrey’s on the sixth floor of Capital Square in Des Moines. David Hansen is Hamilton's divi sion manager. DUBUQUE: On June 8, the merger was completed between Andrew Financial Corp. and First Dubuque Corp., parent company of First Na tional Bank of Dubuque. Through this merger, Andrew Savings Bank becomes the second subsidiary of First Dubuque Corp. Now headquar tered in Bellevue, Andrew Savings Bank operates branch offices in An drew and LaMotte. The banks will continue to operate as independent BANKING banks, with no anticipated changes in staff. Nebraska News The Omaha-Council Bluffs Chap ter of the Bank Administration In stitute has installed the following of ficers and directors for the 1989-89 year: President—Diane Falk, Fed eral Reserve Bank; Vice PresidentMembership—Keith Frederick II, First National Bank of Omaha; Vice President-Communications— Bill Gdovic, First National Bank of Omaha; Vice President-Finance— Don Loehr, Northern Bank; Vice President-Education—Liz Novak, Brentwood Bank; Past President— Debbie Delgado, Norwest Bank; Directors—Charlie Meyer, Vistar Bank; Mark M atthes, FirsTier Bank; Vorace Packer, Nebraska Na"Professional assistance in hiring and career advancement" quality service by experienced professionals 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 Jean Eden 515 - 276-1151 Sandi Garner 515 - 832-1258 Tues / Wed / Fri Confidential. Fees Paid by Employer. DOES YOUR BANK NEED AN INVESTMENT CENTER? • New high net worth customers • Added profit • Reduced deposit loss to competitors • Ability to offer complete financial services Your benefits: For information contact: INVESTMENT https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Robinson, Minnesota News Teamwork: one of the reasons we’re first in Iowa. Mark Conway tional Bank; Diane Norwest Bank. A. William Sands, chairman Western Bank, St. Paul, was vanced to the presidency of the Min nesota Bankers Convention at the M BA ’s annual convention in Duluth last week. He follows James R. Jorstad, president, Minnesota Bank, N.A., Caledonia. Succeeding Mr. Sands as first vice president is Jam es H. Hearon, III, chairman and CEO, National City Bank, Minneapolis. Full convention details and photos will appear in the July q £ Northwestern B anker . MINNEAPOLIS: First Bank Sys tem has promoted four senior managers. Richard W. Schoenke, vice chairman, has been named chief administrative officer, a new posi tion. Ja y B. Walters, executive vice president and head of corporate banking since February, 1987, will assume responsibility for all com mercial banking activities of First Bank, including corporate banking and special industries banking. Mark W. Sheffert, executive vice, president, will manage the First! Bank consumer/small business acti vities previously headed by William F. Farley, who has resigned. Howard W. Moody, senior vice president, will become chief infor mation officer for F B S and manage F B S Information Services. MINNEAPOLIS: Norwest Corpora tion has named Alan V. Johnson to a new position as vice president and director of sales development for its banking group. He was senior vice • president at Norwest Bank Billings and head of retail delivery support for Norwest Banks in Montana. MINNEAPOLIS: Roloff Insurance q Agency has been acquired by First Insurance—Fairmont. The company will be housed in the First Bank Building. Duane Roloff, manager of the agency, will continue to serve as £ manager of the combined agency. 1-80 0 -5 4 4 -7 1 1 3 First Dakota Building P .O . Box 279 6 Bismarck, ND 5 8 5 0 2 or P.O. Box 6 5 6 9 7 West Des Moines, IA 5 0 2 6 5 Illinois News NORTHBROOK: Lane Financial, Inc., has announced that on May 31 its stockholders approved the pro posed acquisition of Lane Financial • by ABN/LASALLE North America, OVER 60% p OFALL BANKS IN OUR MARKETAREA ARE NO W INSURED BY THE KANSAS BANKERS SURETY COM PANY That’s R ig h t. . . In th e nine states w e sew e w e h ave solved th e b o n d in g needs for 6 of every 10 banks. That's over 16 .4 % of all banks in the United States THE REASONS. . . | SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COM PANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. la y H I THE KANSAS BANKERS SURETY COMPANY DAVID E. ABENDROTH Senior Vice President DONALD M. TOWLE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving th e H e artla n d of A m eric a since 1 9 0 9 OVER 60% OF ALL BANKS IN OUR MARKETAREA ARE NO W INSURED % BY THE KANSAS BANKERS SURETY COMPANY That’s R ig h t. . . In th e nine states w e serve w e h ave solved th e b on din g needs for 6 of every 10 banks. That's over 1 6 .4 % of all banks in the United States THE REASONS. . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE i IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COM PANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DONALD M. TOWLE President DAVID E. ABENDROTH Senior Vice President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving th e H e artla n d of A m erica since 1 9 0 9 3 Now th e largest regional processor in th e M idw est show s you exactly w hat w e provide. P If you're not getting this, you're not getting what you deserve. - ^ Full on-line capabilities for all applications with CIF, G/L and platform automation interface ^ Guaranteed same day disaster recovery service for your protection, compliance, and peace of mind. For more information on how we can help you succeed in meeting your goals, eliminating the concerns inherent in data processing and all at a very cost effective price contact: H Cost effective pricing to meet your needs. S? Free initial and on-going training on all applications, (to name just a few). £ Inc., parent company of LaSalle Na tional Corp. I t is anticipated that the acquisition will be effective June 13. Dick Ormond Sr. Vice President, Customer Group 1-800-332-5242 (In Iowa) 1-800-421-0059 (Out of Iowa) ¡T H E (B its /BBAIMKIIMG A IM I ¡S SY YSSTT!E M 4333 E d gew o od Rd N E PO. BOX 1847 Cedar Rapids. Iow a 52406 319/395-6600 A Banks o f lowa subsidiary I t's easier to talk Iowa banking with people who live it — people like Steve Brewer and the corre spondent staff at Bankers Trust. Call 1-800-362-1688 or 515/245-2424. W isconsin News M ILW A U K EE: First Wisconsin Corporation has completed two Min nesota bank acquisitions. The com• pany has acquired Sahara Bancorp, Inc., New Brighton, which owns the $93 million First State Bank of New Brighton, and Rose Holding Co., Roseville, which owns the $126 ® million-asset Roseville Bank. The New Brighton bank operates two branches in Mounds View and Shoreview, and the Roseville Bank _ has three facilities in Roseville and ® an office in Arden Hills. First Wis consin will now have a total of four banks in Minnesota with combined assets of $394 million. • BankersTrust Des Moines, IA Member FDIC 1/ Steve Brewer Assistant Vice President sentation is entitled “Searching for the Gold.” Bankers Association at its recent annual convention in Colorado Spr ings. He follows Jo n Coates, chair man of Century Bank of Denver. Succeeding Mr. Scruby as president Colorado News elect is Robert “Cody” Pearson, Dave Scruby, chairman and CEO chairman and CEO, First National of Evergreen National Bank in Bank, Hugo. Complete convention Evergreen, was advanced to the report and photos will appear in the chairm anship of the Colorado July N orthwestern B anker . For Professional Correspondent Service Call 1-800-622-7262 North Dakota News O The North D akota B ankers Association has announced a change in speaker at its annual convention, currently being held in Grand Forks. Appearing at the Tuesday prayer # breakfast will be Dave Okerlund, president of Okerlund & Co. of Cort land, Neb., whose motivational pre- ThereJs A Difference In Banks... Valley National Bank Main Office - Sixth and Walnut DES MOINES, IOWA 50304 in A BANKS OF IOWA BANK Member FDIC Fir&iee Correspondent Services JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President More o f what it takes to serve you well. 7 F irs T ie r B an ks FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Members FDIC Lincoln • Omaha 4 P O S IT IO N A V A IL A B L E LOAN OFFICER. Hills Bank & Trust Co., a $250mm bank located in the Iowa City area, Is seeking a loan officer. Candidate should possess a bachelors degree & a minimum of 3 yrs. experience in lending, preferably com mercial lending. Excellent benefit pkg. with a salary com mensurate w ith experience. Send letter of application with resume & salary history to: Personal Dept., Hills Bank & Trust Co., Box 183, Hills, IA 52235___________________ (PA) W/A Bank sales, acquisitions and other management services SWORDSASSOCIATES.INC. P R O F E S S IO N A L B A N K IN G C O N S U L T A N T S 2 Brush Creek Blvd. Suite 100 Kansas 64112 (816) 753-7440 PERSONAL BANKER. $250mm bank, located in the Iowa City area, has an excellent opportunity for an entry level personal banker, responsible for consum er lending, new accounts and business development. Prefer candidate with a bachelors degree & 1 yr. lending experience. Ex cellent compensation pkg. Send letter of application with resume & salary requirements to: Personnel Dept., Hills Bank & Trust Co., Box 183, Hills, IA 52235____________ (PA) n SERVING THE U PPER MIDWEST FOR SA LE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters R eg en cy New Warranty RECRUITERS, INC. 402 - 571-5577 W ANT TO BUY WANTED— Need Diebold equipm ent for 2 drlve-ln lanes, lobby teller windows, and cam era system. W ant newer, quality equipment. (402)476-1204, Paul or Bob. (WTB) FOR SA LE Rural SW Colo. Bank— $12mm assets. Please state finan cial qualifications and experience. Contact File W N P c/o Northwestern Banker. (PS) a n d <c^Ts.ioaLatE.± Specializing in the Purchasing and Sale of Banks 515-232-0814 405 Main Ames, Iowa 50010 Donald E. Holder, Principal POSITIONS AVAILABLE Estate Appraisals Purchase of Collections Sale of Rare Coins B en E . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 POSITIONS AVAILABLE SR INVESTMENTS OFFICER Are you ready to step ahead? If you have 4 + years of in vestment exp. managing a fixed income portfolio of $200M or more then this Is position for you. Hard charging, pro gressive bank offers great growth and unlimited oppor tunity. Reports directly to president and part of the managem ent team . $65K. PERSONAL TRUST HEAD Move Into the limelight! Here is your chance to take over large dept, and prove w hat you can do. Must have 5 + years of personal trust and estate planning exp. in a bank environment and will supervise 9. Be part of a winning team . $50K. COMM’L LOAN OFFICER $180 community bank in western III. seeks exp. 3 year comml. lender who is skilled with $3K-12M m ainstreet loans. W ill handle light mfg. and small bus. loans. $35K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS ROBERT HALF OF IOWA. M C . 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 815 Office Park Rd., Suite 6 West Des Moines, Iowa 50265 515-226-0510 AG LENDER - $75 million bank - degree. Need 4-5 years experience. To $30K CEO - $50 million bank - need 10 or more yrs. exp. POSITIONS AVAILABLE -marketing loans - adm inistrative ability - metro Neb. To $60K + Bonus TRUST ADMINISTRATOR— Being held back? Premier MN Richard L. Beem, CPC GUMBERT EXECUTIVE EXCHANGE 9802 Nicholas Street, Suite 370 Omaha, NE 68114 Phone: 402/390-0275 Reliable and respected service for over 20 years Used by bankers throughout the midwest Diane Evans 1102 Grand Avenue, Kansas City, MO 64106 816/842-3860 RYAN AUCTION CO., INC. Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319- 382-8648 ^ trust co. seeks trust admin, w/6 mos. + trust exp. Super chance for candidate who wants quick move upward. Req. degree w/strong selling skills. To $30K. Job #NW 3402 AG LENDER— Successful clean bank'in So. M N is adding to mgmt. team. Req’s 2 + yrs. bank ag lending exp. w/dairy emph. Some guaranteed loan exp. helpful. Exc. ^ long term potential. Very strong ownership ties. Located W near large com m ’ty. T o M id -2 0’s. Job#N W 3403 LOAN OFF.— Does living in a resort area sound a p p e a l - ^ | ^ ing? High performing bank in W l seeks lender w/1-2 + y r s . ^ ^ B exp. Some R/E lending req’d. Resp. for real estate, com ’l , ^ R ^ cons, lending. Leads to #1 lending pos. T o$ 20K + Bonus + Exc. Benefits. Job#N W 3404 CALL PAUL G ENTZKO W OR BILL BENSON # FOR MORE IN FO RM ATIO N CO NTACT PAUL GENTZKOW OR SUE KEITHAHN ROBERT HALF ESOTA.MC. 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID POSITIO N S AV A ILA BLE TRUST MARKETING ■ large urban bank. Requires degree and trust experience. $35K REAL ESTATE LOAN - single fam ily residential and secon dary market experience required. Proximity of major metro area. $40K LOAN REVIEW - large bank experienced required. Both junior and senior level positions available. . $28-$40K COM MERCIAL LENDING - V.P. positions In urban and large suburban banks. Personal portfolios from $20MM to $50MM. $40 K BRANCH MANAGER ■ handle small business and consumer credits. Med-slze community a ffiliate of multibank holding company. $24K Additional listings for commercial lending and trust officers. Resume’ requested. TOM HAGAN & ASSO C IA TES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 17 No. 9 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 (|B
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