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IB A and A M B I Seek U nity
N 1973, differences over multi­
bank h old in g com pany and
branch banking structure in Illinois
led to a splintering of the Illinois
Bankers Association and the forma­
tion of a second trade association,
Association for M odem Banking in
Illinois. Currently A M B I has 285
members, which reportedly repre­
sent over 80% of the state’s banking
assets, and the IB A represents over
1,009 member banks. With the pass­
ing of recent legislation, these mat­
ters are no longer major issues and
the IB A and A M B I leadership agree
that a merger into one statewide as­
sociation is desirable and necessary.
A M B I Chairman Walter Lohman,
chairman o f the First National Bank
of Springfield, stated, “ The issue of
merger has considerable urgency
now. The IB A and A M B I are initi­
ating costly, permanent programs to
serve their membership and as these
proliferate over time it will be in­
creasingly difficult, if not impossi­
ble, to ever merge the associations.”
IB A President James Fitch, presi­
dent o f South Chicago Savings
Bank, stated, “ We have supported
the reunification of the industry
since 1973. We believe our members
want reunification. We hope that
AM BI will accept negotiation with
an open mind.”
The agreement on the necessity to
unite does not mean the road to a ne­
gotiated merger will be an easy one.


Indeed the contents o f the ground
rules for negotiation from the two
groups present some sizable stumbl­
ing blocks. A M B I’s resolution calls
for a “ Unity Commission” to be
chaired by William Harris, Illinois
Commissioner o f Banks and Trust
Companies. The committee would
include four voting members from
each association and the members
would not be officeholders in the
associations. A M B I further resolves
that the work of commission should
be completed by September 1,1982,
and calls for the associations to be
bound to the agreements reached by

mined on the basis o f one bank —
one vote, rather than representation
being determined in any way by
asset size. It further calls for the of­
ficers of the association to be elected
by the membership rather than the
governing board. Finally the IB A
resolution states the ultim ate
merger o f the existing associations
be approved by the membership of
each association.
Newly elected IB A First Vice
President Ken Skopec, president of
the Mid-City National Bank o f Chi­
cago, says the “ pride o f authorship”
the commission. A B M I President of the new association would have to
Jim W att stressed that it would be be ignored for the merger talks to be
essential to begin the, merger talks successful. He called for the AM BI
with a “ clean slate and no precon­ and IB A leadership to meet with
ceived ideas on the structure of the open minds. IB A President-Elect
new association should be brought Don Lovett, chairman and president
to the negotiating table.” The of Dixon National Bank, added that
resolution approved by the IB A a new association should be mem­
membership ceills for the leadership bership oriented with the bank
of IB A “ to provide any necessary members and elected officers, not a
and appropriate vehicle to effect a governing board, responsible for the
policy leading to one, strong state association’s management.
banking association to better serve
Appearing before the membership
the needs of the 1,400 banks in Il­ of both associations during their re­
linois.” The resolution calls for cent annual meetings, Illinois G ov­
association membership to be deter­ ernor James Thompson urged the

to make MNB work for you.
Toll free: 1-800-332-5991

Merchants National Bank
Member F.D.I.C.
Federal Reserve Bank of St. Louis

is i


czHoCcLx a n d ¿ ¿ h io a L a tz s ,

Gany Frandson

IO W A .

| eamwork:
O n e of the
reasons we’re
first in Iowa.


Bank Consultants
Specializing in Bank Acquisitions
P.O. Box 450 405 Main Ames, Iowa 50010
D o n a l d E. H o l d e r , Principal

Anna Belle Sheets
Investm ent Services

An Affiliate of Northwest Bancorporation D M W a J®
Mem ber FDIC

bankers to unite immediately. He
challenged that “ a strong, single
voice within the industry is needed
for the continued growth of pro­
g re s s iv e , m odern b a n k in g in
Illinois.” Echoing the governor’s
concerns, Commissioner of Banks
and Trust Companies Bill Harris
pledged his effort and support to as­
sist with the merger. He told both
groups that the existence of two
associations is not only wasteful but
also “ abusive of a policy developer’s
time.” He also accused both groups
of being guilty of “ false starts” in
taking credit for initiating the unity
talks and said, “ Fine, you guys are
now even and now the talks should
start with a clean slate.”
A t the time this article was being
written, A M B I President Jim Watt
had not seen a copy of the IB A reso­
lution. He said the IB A president
had telephoned the AM BI chairman
notifying him of the mandate passed
by the IB A membership. Mr. Watt
stated he was disappointed in some
of the conditions in the IB A resolu-

B a n k e rs ^

names of all debtors in the
county recorded during the
name of secured party
the date the loan was filed
with the Secretary of State
location where loan made


Call (515) 245-3131 or toll-free (800) 362-2514

tion, but hopes that it would now be
possible for the leadership of IB A
and AM BI to sit down and develop
some ground rules for the merger
talks and to get them underway. □

Iowa News
The Iowa Independent Bankers
have announced the addition of Silas
Keehn, president of the Federal Re­
serve Bank of Chicago, and Richard
Threlkeld, national correspondent
for ABC Network News, New York,
as speakers at the I IB annual con­
vention July 22-24 at Okoboji.
C E D A R R A P ID S : R ob ert H.
O ’Meara has been promoted to ex­
ecutive vice president of Merchants
National Bank, along with Dennis
R. Haines and John R. Taylor, who
were both promoted to vice presi­
dent status. Mr. O ’Meara has been
with the bank since 1961, most re­
cently as senior vice president in
charge of the loaning function. Mr.
Haines handles the bank’s invest­
ment portfolio and Mr. Taylor oper­
ates the check processing center.
mer has been elected vice president
and commercial loan officer of First
National Bank. He has been in bank­
ing the past nine years, serving as a
commercial banking officer with the
Omaha National Bank, Neb., prior
to joining First National.
DYERSVILLE: Dale R. Luckow,
president of Dyersville National

Bank, & Associates of Dyersville
have purchased M echanicsville
Bancshares, Inc., which owns 87%
of the stock of Mechanicsville Trust
& Savings Bank, from Vaughn and
Bernice Hartzell. Mr. Hartzell has
served as president of the bank the
past 17 years. The purchase is sub­
ject to regulatory approval.
FARLEY: Funeral services were
held June 7 for John A. Schrandt,
director and vice president of the
Farley State Bank. Mr. Schrandt
first became a director with the
bank in 1954 and has served as vice
president since 1971.
OCHEYEDAN: With the approval
of the Federal Reserve Bank of Chi­
cago, Ocheyedan Bancorporation re­
cently completed the purchase of
over 90% of the common stock of
the Ocheyedan Savings Bank. There
were no changes in bank manage­
ment. Principal stockholders of
Ocheyedan Bancorporation are C.E.
Spengler, Stephen J. Spengler and
Paul R. Dorr.

Nebraska News
O M AH A: Donald R. Larson recent­
ly was appointed regional marketing
representative for First National
Bank of Omaha, working from the
bank’s Lincoln office. He previously
was serving as vice president in the
commercial loan division of a Lin­
coln bank.
sen, vice president of the Dakota
County State Bank, has been elected
executive vice president and to the
bank’s board of directors. He suc­
ceeds Bernie Moore, who will stay
on as an officer in an advisory

Single System Banking
Availability of funds. . . availability of people. . .
responsive to your needs.

National Bank of Waterloo
Federal Reserve Bank of St. Louis

Waterloo, Iowa 50704 Member FDIC

I \

Phone Max Cory
at 1-800-772-2411.

Supplement to
Northwestern Banker Newsletter

Carleton D . Beh Company
Investment Bankers / Financial Consultants
1300 Des Moines Building / Des Moines, Iowa 50309
5 1 5 /2 8 8 -2 15 2



We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion:

Sewer Revenue Bonds, Series 1982
DATED: May 1,1982


Both principal and semiannual interest (May 1 and November 1; first coupon due November 1, 1982) payable at
the office of the City Treasurer, Webster City, Iowa.
1 1 1/4 %

$ 40,000

May 1, 1983
May 1, 1984
May 1,1985
May 1, 1986
May 1, 1987
May 1,1988
May 1,1989



May 1, 1990
May 1, 1991
May 1, 1992


1 1 1/4 %


May 1, 1993
May 1, 1994


‘ Bonds numbered 114 to 220, inclusive, maturing in 1991-1994, inclusive callable for redemption in inverse order be<
May 1, iyyu or any interest payment date thereafter, at 101.5% declining to par.

Cltyl-the f ounty seat of Hamilton County, is located in central Iowa 70 miles north of Des Moines. The City was chosen as
trallinrPrantp r H i - i o r n ! i t r l n c 0 Pe
several years ago as the typical, prosperous community. It serves as the principal manufacturing and
trading center for Hamilton County and the surrounding area. The City is surrounded by farmland which ranks as the fourth highest in value per
fna a i e L S
?■! ^ 5
'° Wa (compiled by lowa State University in 1980) and ranks among the top agricultural prodScmg areas in the State. In addition, the City has become an important livestock marketing area recently with the completion of one of the most
r p S m S exchanges in the Midwest Daily capacity of the exchange is 10,000 head. The City owns and successfully operates an ex­
cellent municipal electric light and power system, sewage treatment system and waterworks plant and system. Some of the larqer industries in
inr^Pr^ T f erJ ' Xy
udHe: W a s te r City Products Co., Division of White Consolidated Industries (washers, dryers, dishwashers); Nissen Pack(beef and pork products), Hahne Printing Co. (commercial printing, magazines and catalogs); Arrow-Acme Corp. (die castings and ma8h n7end, P
nanrntSk and M° d?m Fa;m+ Systems (grain storing and drying bins). Webster City has two Commercial banks with deposits exceeding
q>oo,703,000. The current population is estimated at 8,572.
ISSiU.??-*t0 pr^ Vlde ! un? ,refund outstanding sewer revenue pledge orders issued as payment for the construction of im­
provements to the Sewer Utility and for technical services incurred in connection with that improvement.

Gross Revenue
Net Revenues


Average principal and interest
Coverage of average requirement

(Based on projected average earnings)
Maximum principal and interest
Coverage of maximum requirement


w n w m e u nerem is noi guaranteed, dux is aerivea from sources we deem reliable and Is that on which our purchase of these bonds an
Bonds of a particular maturity may or may not s till be available or may now be available at a price or yield different from that indicated above.
Federal Reserve Bank of St. Louis

Division of


& Company Inc.


Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 6-14-82

Now Available

N E W 1982 E D IT IO N S

Send me.
copies of the 1982 edition of the
IOWA Bank Directory at $10.00 per copy.

Nebraska — Over 200 pages.
Iowa — Over 300 pages.

Send me_________copies of the 1982 edition of the
NEBRASKA Bank Directory at $6.00 per copy.
O ur c h e c k is e n c lo s e d fo r $_________________ (la. & N eb. ad d
3 % s ta te tax)
C om pany N am e.

Orders shipped by return mail
O ffic e r N a m e __
P.O. Box or
S tre e t A d d re s s .
C ity and S ta te .

.Z ip

P hone ________

Area Code
Federal Reserve Bank of St. Louis


3 0 6-15th St.

D es M o in es , Io w a 5 0 30 9
Federal Reserve Bank of St. Louis

where com m on transactions are handled uncomm only well.
13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C

Illinois News

W ORLAND: Affiliated Bank Cor­
poration of W yoming and Don C.
Davis and Robert L. Anderson, ma­
Purchase o f
jor shareholders in Stockgrowers
State Bank, jointly announced an
in principle for acquisi­
Sale o f Rare Coins
tion of Stockgrowers State Bank by
Reliable and respected service
Affiliated. Under the agreement in
for over 20 years
principle, Affiliated will acquire all
of the shares of Stockgrowers State
Used by bankers
throughout the midwest
Bank Co., Inc., which owns 94% of
North Dakota News
Stockgrowers State Bank, for a com­
FARG O : George W. Schwartz,
Ben E . Marlenee
bination of cash, stock o f Affiliated
president of First National Bank of
and assumption of debt of the StockFargo, has announced the appoint­
growers State Bank Co., Inc. The ac­
ment of Ron Braseth as vice presi­
913 Locust
quisition will be contingent on the
dent, agricultural loans/corresponDes Moines, Iowa 50309
execution of a definitive agreement
dent banking and Gregg Sorensen,
and other conditions, including ap­
vice president, retail banking. Mr.
capacity until August, when he will Braseth joined the bank in 1976 as proval by the Federal Reserve
resign to take another position.
agricultural loan officer. Mr. Sor­
ensen started in 1977 in the instal­
Minnesota News
Montana News
ment loans and real estate depart­
BRAIN ERD : Gordon E. Winzen- ments.
LEWISTOWN: John M. Carlson
burg has recently joined Citizens
will be named executive vice presi­
State Bank as vice president in the
dent and managing officer of Mid­
Wyoming News
commercial loan department. He as­
state Bank of Montana, effective
sumes the loan department respon­ K EM M ERER: Jerry Greenfield, June 21. Joseph J. Friend will con­
sibilities of Tom Welle, who has ac­ formerly vice president at First tinue as chairman of the board and
cepted the position of president at Wyoming Bank, recently accepted a president of Midstate Bank. Mr.
International State Bank, Interna­ position as president and chief ex­ Carlson began his banking career in
tional Falls. Prior to moving to ecutive officer at another Kemmerer 1978 with First National Bank in
Brainerd, Mr. Winzenburg was a bank, Fossil Butte National Bank, Lewistown as a loan officer.
vice president at the Princeton State which was recently purchased by A f­
filiated Bank Corporation. Mr. Green­ MISSOULA: George E. Nygaard
field had been with First Wyoming has been promoted to vice president
SHAKOPEE: Funeral services were
Bank seven years.
and senior commercial loan officer,
recently held for F.A. Wieland, 70, a
director and former president and LANDER: Paul F. Phillips has been second officer in the bank and sec­
chairman o f First National Bank of promoted to the position of presi­ retary to the board.
Shakopee. Mr. Wieland joined the dent and chief executive officer of
bank in the early 1930s and was a Yellowstone State Bank. Mr. Phil­
third generation Shakopee banker. lips, who has been an officer of the
Banking, Financial & Business
He was elected president in 1963, ac­ bank since joining it in February,
Personnel, Iowa and Nationwide
tively serving as chairman the last will succeed Orval F. Little, who has
Capital Personnel Service
several years until his retirement in been named president of Central
714U.C.B. B u ild in g ,515-283-2545
April, 1981.
Des Moines, Iowa 50309
Wyoming Bank of Riverton.

Estate Appraisals

CHICAGO: Robert D. Gecht was
elected president of Albany Bank &
Trust Company, N.A. Mr. Gecht
had been serving as executive vice
president since 1981, before which
he was vice president at Amalga­
mated Trust & Savings Bank, also
in Chicago.

If you're asking a lot,
C lC jlm

The professionals at United Missouri Bank.
Giving you what you need, when you need it.

Dick M uir

Larry Russell

" c of Kansas City, n.a.
United w e grow .Together.
P.O. Box 226, 10th and G rand, Kansas City, M isso u ri 64141 • (816) 556-7000
Federal Reserve Bank of St. Louis

Steve Panknin

Jeff Goble

Dave Dickens

— W AN T ADS —

Rates are $5.00 per line per insertion.
Add $3.00 for file letters per insertion.
Identity of file letter advertisers
cannot be revealed.
Northwestern Banker
306 - 15th Street
Des Moines, Iowa 50309
Phone 515/244-8163
You found the best deal on other
than new 775 & 7750 proof machines?
Clean ready to install
Until you talk to Bill Harris
Phone 308-384-5995

17 Year community banker, age 42, extensive experience
in all areas, graduate of banking schools desires 2nd man
or cashier position. W rite File PBM, c/o Northwestern

Number Two Man w ith ag lending, operations and in­
surance background wants to move to new situation. 14
years experience.................................................
Executive in small Illinois bank seeks new opportunity . . .
..................................................................................... $28,000
Ag Lender in $45 m illion bank, extensive experience in
both ag and commercial lo a n s .............................. .$32,000

Trust Officer fo r Iowa Lakes R e g io n .............. Salary Open

Senior Auditor w ith CPA degree wants to move into lend­
ing w ith preference for Greater Twin Cities area . .$25,000

Insurance Agents wanted by western Iowa and eastern
Nebraska b a n k s ...................................................$25,000 up.

Installment Lenders w ith three or more years experience
..................................................................................$20,000 up

Ag Lender w ith lim ited experience in commercial bank . . .
..................................................................................... $16,000

Operations specialist w ith $100 m illion bank seeks job in
Upper M id w e s t............................................................$24,500

Operations Person for western North Dakota bank $23,000

Generalist in com m unity bank looking for new opportunity
in Iowa or Missouri. Extensive experience and reliable . . .

lnstallment,.Lender for eastern Nebraska bank. Must have
bank exp. . ..................................................................$23,000
Ag Lender for southeast South Dakota bank .Salary Open.
Marketing Person for northern Iowa bank, lim ited ex­
perience ......................................................................$15,000
Write or call Malcolm Freeland, Freeland Financial Ser­
vice, Inc., 246 Insurance Exchange Bldg., Des Moines,
Iowa 50309. Phone 515/282-6462. Employer pays fee.

CEOs now active in banks from $10 m illion to $300 m illion
want to relocate in Upper M id w e s t.......................... $35,000up
Ag Lenders, entry-level and/or several years experience ..
..................................................................................$16,000 up
Write or call Malcolm Freeland, Freeland Financial Ser­
vice, Inc., 246 Insurance Exchange Bldg., Des Moines, la.
50309. Phone 515/282-6462. Employer pays reasonable fee.

$160 m illion bank in northeast Iowa looking for an ex­
perienced operations person. Two years or more banking
experience in bank operations required. College degree in
business preferred. Salary and benefits commensurate
w ith qualifications. Excellent opportunity for growth and
advancement. All replies confidential. W rite file QBO, c/o
Northwestern Banker.
years experience required. Banking background useful.
Growing multi-bank holding company. Salary open. Send
resume to John L. Calton, Executive Vice President,
Peoples Bankshares, Ltd., P.O. Box 360, Waterloo, Iowa
50704._________________________________________ (PA)
PRESIDENT-CEO—$18 m illion bank near Springfield, Il­
linois. Population 2,200. Must have lending background.
Contact L. Wenzl (515) 277-9907, or write in confidence c/o
Hawkeye-Capital Bank & Trust, E. 5th &Locust, Des
Moines, IA 50307.
CHIEF EXECUTIVE OFFICER—A $20 m illion bank located
in western Illinois is seeking an individual w ith agri­
cultural loan experience to become chief executive of­
ficer. This is an excellent opportunity for an individual with
an agricultural loan background interested in managing a
bank. Ownership has interests in several Illinois banks so
that advancement opportunities are unlimited. Salary
commensurate w ith experience and ability. Please send
resume to file QBH, c/o The Northwestern Banker.
AGRICULTURAL LOAN OFFICER — Excellent career op­
portunity for seasoned lender w ith a strong Ag back­
ground. Degree preferred but not required. Resumes may
be forwarded to: Personnel Officer, First Interstate Bank
o f Great Falls, P.O. Box 5010, Great Falls, Mont. 59403.(PA)
COMMERCIAL LOAN OFFICER w ith 5-7 years experience.
Experience w ith loans to mid-six figures and higher is
desirable. Degree preferred but not required. Resumes
may be forwarded to: Personnel Officer, First Interstate
Bank of Great Falls, P.O. Box 5010, Great Falls, Montana
(p a )
American State Bank, Mason City, Iowa is seeking a Com­
mercial Loan Officer. The applicant must have three years
of lending experience as well as Operations experience.
The position offers excellent opportunities w ith an af­
filia te of Hawkeye Bancorporation. Send a resume to
George W. Meyer, President, American State Bank, P.O.
Box 851, Mason City, Iowa 50401.

Leading midwest commercial bank has opportunity
for experienced trust officer to head their corporate
benefits and services department. Law and/or ad­
vanced business degree required. Our client is a
marketing-oriented institution, so business de­
velopment talents are essential. For fully confiden­
tial consideration submit your qualifications in
writing with income history to T.W. Textor. Com­
pensation is open with attractive benefit package.
No fees. We are consultants to management. (PA)

2626 Ruan Center
Des Moines, Iowa 50309

MODULAR BANK UNITS— 14' x 36' and 14' x 66'. Fully
equipped w ith alarm, camera, night depository, drive-up
window and furniture. Ready for delivery. Contact Finan­
cial Products, Inc., Box 1035, Eau Claire, Wl 54701. Phone

Brandt Model 952 Demonstrator coin sorter counter-save
over $800. C all Money H andling M achines Inc.,
1-800-228-2581. In Nebraska, 1-800-642-1522.
NCR 755-1000 single pocket proof machine. Has been
under maintenance contract. Contact Andrew Kobs or
Diane Hanna, First National Bank, Fort Dodge, Iowa
50501. Phone (515) 576-6811.___________________
NCR 279-100 off-line teller machines. Certified for
m a nu facture r’s m aintenance. C all Ada Turner at
Twelve Burroughs TT-102 on-line teller term inals at
greatly-reduced prices. For more inform ation, call Ada
T urner at 512/250-0956.

All positions are in Missouri, Arkansas, Kansas or Oklahoma.
Commercial Loan Officer, Business Developer.
All Around Country Banker, $15m bank.
#2 Man, $30m bank, Commercial Lender.
Trust Analyst, Sr. Portfolio Mgr.
Trust Securities Operations Analyst.

To $30,000.
To $26,000.
To $28,000.
To $40,000.
To $21,000.

Commercial Loans Officer, $30m privately owned.
To $30,000.
Commercial Loan Officer, $125m bank.
To $30,000.
Agriculture Loan Officer, $30m bank, top advancement.
To $30,000.
Trust Department Head, $80m Trust Dept.
To $40,000.
Vp. Commercial Lender w ith Ag, $125m bank. To $40,000.
Eighteen years of banking serving as President o f both
rural and metropolitan banks enables me to find the right
banking environment for you. I assure your confidentiality.
Phone or send resume to: Don W. Schooler & Associates,
901 A. West Jackson, Ozark, Missouri 65721. Phone (417)
485-6020 (9am • 5pm). (417) 883-3713 (Evenings).

"Successful Banking is Quality Personnel"

I 523 N. Main St„ Carroll, Ia„ 51401 712-792-2748 |

COMMERCIAL LOAN—$50 m illion Rocky Mountain area
bank seeks commercial lender w ith 3 yrs. or more ex­
SECOND OFFICER—$30 m illion surburban bank located
close to Missouri Lake area. Superior commercial loan
and business development skills required.
REAL ESTATE LOAN—addition to s ta ff of medium size
bank. Single fam ily residential and construction lending
experience desired.
JUNIOR OPERATIONS—assist senior officer w ith day to
day operational duties and supervise custom er service
personnel. University community.
AGRI LOAN—small rural bank desires well experienced
Ag lender to handle all farm credits.
COMMERCIAL LOAN— urban affilia te o f one o f the mid­
west’s largest holding companies. Degree and formal
credit analysis background required.
CASHIER—rural $25 million bank. Prefer 4-5 yrs. operations
experience and some Ag lending background.
Your inquiry w ill be held in confidence. Salary history and
resume' requested.

of Kansas City
Box 12346 - 2024 Swift
North Kansas City, MO 64116
“ Serving the Banking Industry Since 1970”

Vol. 11 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.
Federal Reserve Bank of St. Louis