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• Vol. 13 No. 9 Des Moines, Iowa June 18,1984 At Colorado Bankers Convention: “ Pricing of Bank Services” Assessed w ^ w ^ a A 0 £ % R. WILLIAM Wilsted, director mJ of the Colorado Graduate School of Banking at the University of Colorado, Boulder, gave an outstanding presentation of his talk on “ Pricing of Bank Services,” at the Colorado Bankers Association Con vention held June 7-9 at the Broad moor in Colorado Springs. After noting that “ pricing philosophy has changed in light of regulations,” Dr. Wilsted said “ the pricing of services should be made on the value to customers. Too often, in today’s deregulated market, we haven’t done this.” He listed four factors to consider: 1. Product utility, which has four aspects—form (savings and checking accounts, auto loans, home mort gages and other services); place (location convenience); possession (taking possession of something now instead of later—e.g., an auto loan that offers time payments to enjoy a car now); time (saving customer time, or realizing the time value of his money). 2. Customer alternatives (competition). Bank needs to devise a strategy that reduces customer alternatives—by pricing, service, type of product. 3. Customer perception in value of the service provided. Enhancing the “ what will it do for me” concept. 4. Customer capacity, which re quires three essential ingredients, none of which can be missing— de mand, sufficient number of prospec tive customers, sufficient number of customers willing be pay. “ In summary,” Dr. Wilsted said, “ in the marketplace where the customer has a choice, our strategy is to recognize customer needs, pro vide the product to satisfy those needs, and price the product to make a profit.” IDEA Annuity Seminar, Wednes day, July 11, at Holiday Inn South, 2101 Fleur Drive, Des Moines. This seminar has been designed to provide a thorough unerstanding of the IDEA programs, and of the ad ministrative procedures and forms. Registration fee is $30 and covers the seminar, materials, lunch and refreshments. For more information and to register contact Jeanette M. Ellington, IBIS, Inc., 400 Financial Services Bldg., 508 Tenth Street, Des Moines, Iowa 50308. * * * A Bank Directors Seminar will be held July 11 in Des Moines and July 12 in Amana. This one-day directors retreat has been arranged by the Iowa Bankers Association to give your board perspectives on long and short-range planning, organization and effectiveness. Robert Dye, vice president, Fi nancial Shares, Inc., Chicago, will present the morning agenda. Don Wright, Don Wright Associates, Dallas, will present the afternoon session. He is a frequent speaker on banking and economic subjects. For more information contact Judi Carber at the IBA in Des Moines. Federal Regulators Testify Before House On Tuesday of last week, Chair man William Isaac of the FDIC, Comptroller of the Currency C.T. Conover, and Chairman Ed Gray of the Federal Home Loan Bank Board testified before the House Banking Committee on HR5734, the Finan cial Institutions Equity Act in troduced by Rep. St. Germain and Rep. Chalmers Wylie. This is the bill that is basically aimed at closing the loopholes in current banking law. On Wednesday of this week, Sec retary Regan will testify, and on Thursday, June 21, the House Banking Committee will mark up CORALVILLE: The acquisition of the St. Germain-Wylie bill. uniBank & Trust by Hills Bank and Trust Company, Hills, has been Iowa News completed. On June 1, the former The Iowa Bankers Insurance and uniBank locations in both Coralville Services, Inc. will be sponsoring an and North Liberty opened as offices YAKE, SPRENGER AND JENNINGS Getting it done for you. Ernie Yake Bill Sprenger Tom Jennings 234-2483 234-2625 234-2484 Commerce Bank of Kansas o ty MEMBER FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Tplpnhnm» 9^4.9nnn Telephone B|gg (816) 234-2000 v , Norwest Bank Des Moines N.A. NORWEST BANKS C a ll (515) 245-3131 o r to ll-free (800) 362-2514 Member FDIC T e a m w o rk : one o f the reasons w e ’re first in Iow a. M a rk C o n w a y of Hills Bank and Trust Company. Gordon L. Hinz, vice president, has been named to manage the Coralville office. He will be assisted by Keith Jones, assistant vice presi dent, and by Joanne Kuddes, assis tant cashier. DUBUQUE: First National Bank of Dubuque will be celebrating its 120th aniversary, Wednesday, June 20. Activities have been planned for the entire week of June 18-22 in cluding an employee breakfast, a day-long open house at all four First National Bank locations and a Con cert in the Park, all planned for Wednesday, June 20. First National opened for business 120 years ago at the corner of 6th and Main Streets and moved to its current main office ASK TERRY MARTIN to make MNB work for you. Toll free 1-800-332-5991 Merchants A National Bank 151 Member F.D.I.C. A 'BANKS OF IOWA' BANK * D o ro th ea W olfe headquarters at Seventh and Town Clock Plaza in 1962. LE GRAND: Citizens Savings Bank here will be holding its 3rd Annual Golf Outing, August 15. The bank will be announcing more details in July. * * The Mid Plains Group of the Na tional Association of Bank Women will hold its next meeting June 26 at the Lakeshore Country Club in Lake Manawa, Council Bluffs. Dinner will begin at 6:30 p.m. Guest speaker for the evening is Donald Leu, president of Consumer Credit Counseling Service. Mr. Leu will speak on “ Family Financial Planning.” LINCOLN: First National Bank & Trust Company of Lincoln has an OTTUMWA: Max von Schrader nounced the promotion of Tom No recently retired as chairman of votny as installations officer in the Union Bank and Trust Company automated customer service divi here and was elected honorary chair sion, and Eugene E. Oltman as dir man, continuing his duties as a ect loan officer in instalment lend director. Max von Schrader, Jr., was ing. Mr. Novotny joined the bank in elected chairman and will continue 1981. Mr. Oltman joined in 1980. his duties as chief executive officer of the bank. Richard M. Ackley has LISCO: The Lisco State Bank been elected president. He previous celebrated its 75th anniversary ly served as executive vice presi earlier this month by hosting a reception and dinner for area dent. bankers and correspondents, and a special luncheon for its customers. Nebraska News Special guest was Harold B. Olson, According to a ruling of the chairman, who was honored for 60 Nebraska State Claims Board an years of service with Lisco State nounced earlier this month, the Bank. State of Nebraska would pay $33 million to depositors of the insolvent Minnesota News Commonwealth Savings Co., giving Galen T. Pate, president of Signal depositors an immediate 55 cents on Hills State Bank in West St. Paul, the dollar for deposits. If Nebraska Banking Director was elected president of the Min Roger Beverage accepts the settle nesota Bankers Association for ment, it must have the approval of 1984-85 at the 94th annual conven the Lancaster District Court, and tion June 12 at the Radisson St. the Nebraska Legislature must ap Paul Hotel. He succeeds Herbert A. propriate the funds. A July 10 date Lund, president of Security State has been set for the Lancaster Dis Bank in Albert Lea. Clinton D. Advantage Competition in today’s banking game is fierce. To win, you need the advantage of strong correspondent banking services. For an impressivejjne up, get the score from Bernie Miller at American Trust & Savings Bank. Call 319/582-1841 for the advantages. Am erican ^Jïrust G Savings DanK. The Danl^qf O p p o rtu n ity https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis trict Court to hear arguments on whether or not to let Mr. Beverage sign the agreement, and to decide whether the court will approve the State Claims Board’s settlement on the liability. Town Clock Plaza Dubuque, Iowa 52001 Mem ber F D IC and FRS Iowa Bank V.P. Says: “We Didn’t Have a Year to Train a New Ag Loan Man” a 0 0 0 0 # • 0 ® ® • “ We didn’t have a year to train a new ag loan man,” remarks Dave Stephens, Executive Vice President of Central Trust & Savings Bank, Eldridge, Iowa. “ We needed a man who could climb in the saddle and ride!” With his own ag loan workload ex tremely heavy, Stephens turned to AGRIcareers for help in locating an experienced man. Chris Cunningham, 26, was recommended by the personnel firm and was employed. “ We offered Chris the job and he was here in two weeks,” explains Stephens. “ Very soon, he was visiting customers. “ Chris works well with farmers and with fellow employees here at the bank. And he can size up a loan profile and an individual quickly and accurately. Continues Stephens, “ Chris has the ability to say no when it’s appro priate, yet keep the customer.” The eastern Iowa bank is in Scott County, where farm crop failures are extremely rare. Corn yields com monly run 150 bu./acre, and corn and soybean yield contests often are won by farmers in the bank’s trade area. Cash rent for cropland some times reaches $200/acre. Livestock enterprises involve hog production, cattle finishing, and occasionally dairying. “ We back agriculture!” points out Stephens, who is in charge of the bank’s lending to farmers. “ Right now, it’s tough times for farm ers—low farm commodity prices, the reduction in land values, high in terest rates, and sometimes over investment. “ Ag banking today requires high ly capable loan officers, perhaps more than ever.” In Cunningham, AGRIcareers was able to meet Stephens’ “ specifi- « I CAREERS, INC. AG BANKING SPECIALISTS (51 5)394-3145 MEW HAMPTON, IA 5 0 6 5 9 (71 2 )7 7 9 -3 7 4 4 MASSENA, 1A 5 0 8 5 3 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis WÊÊÊËÊÊBË Dave Stephens, left, Executive Vice President of Central Trust & Savings Bank, Eldridge, Iowa, located Chris Cunningham, the bank’s new ag loan rep, through AGRIcareers. “We needed a man who could climb in the saddle and ride!” says Stephens. cations” for an ag loan representa tive: (1) Farm-reared, ag college degree, a willingness to relocate, three to five years ag lending ex perience, and “ not set in his ways—a willingness to grow and change.” “AGRIcareers has a good reputation. They’re personnel professionals.” — Dave Stephens, Exec. VP Central Trust & Savings Bank Eldridge, Iowa Central Trust & Savings Bank’s footings total $58 million, and loans direct to farmers are about $13 mil lion. Forty-five people are employed at the full-service bank. Sums up Stephens, “ AGRIca reers has a good reputation. They’re personnel professionals. “ I didn’t have time to do the per sonnel search and sort myself,” he adds. “ An ad in the paper can bring 100 resumes to study! AGRIcareers sent us only people who could meet our needs. “ We interviewed four and hired Chris.” Cunningham is comfortable in suit and tie or in the country talking financing with farmer-customers. Formerly, he worked for PCA over three years as an ag loan officer. AGRIcareers’ Massena, Iowa office bank personnel specialist, Jean Eden, recom mended this 26-year-old Iowa State Univer sity ag business grad to his new bank posi tion. Supplement to Northwestern Banker Newsletter 6-18-84 AG BANKERS NOW AVAILABLE WANTED: BANKERS Never a Fee From an Employee Personnel Specialists Serving America’s Ag Lenders Let Us Help You Hire Better, Faster, Easier Our candidates have been thoroughly screened, referenced, and in most cases, personally interviewed and evaluated by us. This information is passed on to you, with the candidate’s permission and prior knowledge...Our clients depend on us for QUALITY! NL-1 SENIOR LOAN OFFICER—TOP NOTCH ag lender o f fers fourteen years w ith farm credit system and is available as a result of territorial re-alignment and nepotism. Progressed from loan officer, branch manager, credit manager to current V.P./Treasurer. Responsible for $65MM association, six branch offices and 33 employees. Instrumental in implementation of six IBMPC’s for finan cial statement analysis in all branches. References say, “ Ambitious, understands farming, has an analytical mind...alot of ability...does a good job for me.” B.S. Ag Business. Divorced. Age: 36. Lives MN. $35,000. Call Linda. NL-2 #2 OR 3 POSITION—Wants less specialization (cur rently #2 in ag dept, of large holding company) and more involvement in banking activities. Offers six previous years as cashier for $8MM bank w ith duties of operations, all types o f lending, compliance, insurance and invest ments. Excellent references. Four year degree. Married. Age: 31. Lives MN. $30,000. Call Linda. NL-3 VP— Diversified lending skills which include four years in long term area and currently tw o years in short term lending w ith the farm credit system. Responsible for $6-7MM in ag loans, life and crop insurance and compu terized record keeping system. Experienced in workout situations. Wants more diversification to banking opera tions and management. B.S. Ag Economics. GPA 3.2/4.0). Married. Age: 28. Lives IA. $25-30,000. Call Linda. NL-4 CEO/EVP— Fifteen plus years of overall ag banking experience which includes ag lending (has good loan judgement), trust management and fam iliar w ith setting up and implementing new bank policies using computers. Reference says th is ag banker has a strong farm clientele ...a TOUGH com petitor in the banking field. Community in volved. Degreed. Married. Age: 45. $35,000 + . Call Linda. NL-5 AVP/VP—When asked on a reference regarding this candidate the reference said, “ Put it this way, if we had an opening for him - we would hire him.” Currently w ith $16MM bank as loan officer and responsible for loan port folio of $10MM which includes ag (Ag Credit Corp.-$2MM), Real Estate, installment, consumer and commercial loans. B.S. Ag Economics. GPA 3.00/4.00. Married. Age: 26. Lives MN. $25,000 + . Call Linda. NL-6 AG LOAN OFFICER—Currently w ith farm credit branch of $16MM loan volume and he’s responsible for $3MM in loans, new business development and marketing related services. Has some light exposure to complex loans. References say, “ TOP NOTCH...BRIGHT...Iearns fast...skilled in modern technology (computers).” B.A. Business Adm inistration GPA 3.73/4.00. Married. Age: 25. Lives MN. $21,000. Call Linda. NL-7 AG LENDER— Reference says, “ Extremely strong communicator...good personality...assists in collecting problem loans and prospects for new accounts.” A little over one year’s experience for an ag credit corp. Real Estate license. B.S. Tech. Ag. Single. Age: 28. Lives Wl. $17-20,000. Call Linda. NL-8 AG BANKING—Very sharp appearing (professional) loan o fficer who offers three years with FLB. His strengths are ag lending, farm appraisals, public relations and col lections. Reference says, “ Real dedicated, relates well to customers...would recommend him for a bank positio n !” B.S. Ag Business. Married. Age: 26. Lives MN. $26-30,000. Call Linda. NL-9 VP/AVP/AG LOANS— Five-and-one-half years in ag lending for a major ag bank. Good foan documentation skills. Experience on computer (both setting up programs and running them). Double Major/Ag Business/Economics. Married. Age: 28. Lives MN. $28,000. Call Linda. NJ-12 AG LENDER—Seven years ag credit experience (one year with PCA, past tw o years in $18 m illion bank) cur rently VP in charge of $8 m illion ag loans. References say, “ able to handle a heavy load of problem loans, strong technical expertise, good w ith numbers.” Very profes sional, no-nonsense individual. Four year degree plus computer courses and insurance licenses. Married. Age: 37. Lives IA. $30,000. Call Jean. NJ-13 AG LENDER— Has 4 yrs. bank exper. Started in in stallments, is now ag rep handling $3 mil. of $5 mil. in ag loans in $22 mil. bank. Reference says; “ strong on cash flows, excells in ag lending...understands farming, analytical, good judgement, an outgoing and popular in dividual.” Degree in Ag Banking plus MN bank courses and ag lending school. Apple computer exper. also Mar ried. Age: 25. MN. $25,000. Call Jean. NJ-14 BANKER—Currently EVP/Cashier of $7 m illion bank with $4 m illion in loans. Experienced in lending, securities, insurance and sta ff management. Total of eight years in banking, plus one year as bank examiner. B.S. in Finance and Insurance. A high calibur individual. Married. Age: 33. Lives IA. $35,000. Call Jean. NJ-15 AG LOAN OFFICER—3-V» yrs. current exper. with Farm Credit System. Very professional manner & appear ance. References say; “ thorough, organized, excellent documentation, hard working, knows farming and what loans w ill or won’t work...EFFECTIVE...whoever hires him w ill get their money’s worth...the kind of ag lender needed today.” Iowa St. grad. Married. Age: 26. Lives IA. $23,000. Call Jean. NJ-16 BANK MANAGEMENT— Now President & C.E.O. of $35 m illion bank with $15 m illioin in loans and 20 employ ees. Has been w ith same bank system for 20 years, handl ing primarily ag loans, as well as R.E. and commercial duties. Strong in overall bank management. Accounting degree, several bank schools. Married. Age: 40. $50,000. Call Jean. NJ-17 AG BANKING—Offers nine years loan experience, including tw o years w ith a bank. Currently managing two branch offices in Farm Credit System w ith $15 m illion loans. Trained and supervising loan officers and clerical staff. Exceptional references: “ Gets the job done right... good to work for, and w ith...lots of drive...a polished and sophisticated man, yet able to put farmers at ease.” Col lege degree. Married. Age: 35. Lives IA. $36,000 + . Call Jean. NJ-18 AG LOAN OFFICER—Three years ag banking exper ience in lending (ag, commercial and consumer), opera tions and insurance. Reference says, “ Mature and depen dable...show him something once and turn him loose... does the job right...well trained.” Helped w ith conversion to in-house digital com puter system. Ag Banking gradu ate. Single. Age: 24. Lives SD. $25,000. Call Jean. NJ-19 AG DEPARTMENT HEAD—Currently manages $10 m illion ag department in $70 m illion bank. Supervises two assistants, cross sells bank services, and has insurance and micro computer experience. Formerly PCA Branch Manager for four years. A 1st class candidate! B.S. Ag Bus. plus banking school graduate. Married. Age: 32. Lives IL. $40,000. Call Jean. Ag Banking Personnel Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi dential. Employers pay us to hire the best. Federal Reserve Bank of St. Louis NWB-1 CORRSP. BANKER—Calling on country banks and new business dev. for an independent bank. Exp. in bank ing, lending and oper. IA. $22-28,000. NWB-2 AVP/VP— Experienced banker to make ag loans for $100MM+ + bank w ith ag loans o f $20MM. Large m ulti holding company. MT. $25-33,000. NWB-3 ASST. MGR— Banker needed for m ulti holding company w ith a branch of $30MM + + . Ag background re quired. $25-36,000. NWB-4 FARM DEPT. HEAD—$150MM bank, in charge of $13MM ag loans, supervise one ag loan officer, work on loan problems. Excellent bennies and advancement poten tial. Metro location. 5-10 years, ag & commercial loan expr. in $30-$75MM bank, finance or acctg. degree. IL. Up to $37,000. NWB-5 EVP/PRESIDENT— Bank management for $25MM bank w ith $15MM in loans. Must have bank mgt. skills. NE. $50,000. NWB-6 VP— In charge of ag loans, loan analysis, fin. state ments, etc. for a small ag bank. Five years ag lending. MN. $25-30,000. NWB-7 FARM REP— Handle farm accounts and some ex posure to insurance field. One-three years ag credit expr. IA. $16-18,000. NWB-8 VP— In charge of ag loan dept, of $8-10MM in loans for a large holding company. Aggressive, ag oriented and good documentator. Good advancement potential. IL. $32-35,000. NWB-9 CEO—Small ag bank needs senior banker to come in and manage ag bank of $15MM. Ag background, com munication skills and bank management needed. IA. $35-40,000. NWB-10 COMM/AG LDR— Handle $6-8MM in loans for a $70MM bank. 4-5 years ag lending, know banking (commer cial area). IA. $25-30,000. NWB-11 AG REP—Start as ag rep then progress to VP with resp. of ag loans for a $20MM + bank. SOLID ag loan expr. required. Bus. devel. skills. IA. $30,000. NWB-12 AG LOAN OFF— Performance oriented ag lender in $60MM + bank. 1-3 years ag lending expr. IA. $21-23,000. NWB-13 #2—$18MM bank needs a strong ag credit person to be in charge of all ag loans ($14MM) and other phases of bank. High performance, service oriented bank. MN. $25-30,000. NWB-14 SR. LDG. OFF—Supervise five lenders in total lending functions w ith $40MM in loans. Requires 5-10 years lending expr. MN. $40-45,000. NWB-15 #2/AG DEPT—Assist dept, head w ith ag loans ($10MM) for a large independently owned bank. Sales or iented and aggressive. MN. $20-25,000. NWB-16 VP— Resp. for operations and loans of a small ag bank of $9MM. Major emphasis in ag loans. Bus. devel. skills. MN. $25-35,000. NWB-17 AG LOAN OFF—Service ag loans w ith 30% of tim e in country for a $20MM bank w ith $5M M + in ag loans. Related ag credit expr. MN. $25-28,000. NWB-18 2ND IN CHARGE—$20MM bank. Resp. for ag loans, asset liability mgmt., profit & budget planning, etc. 10 yrs. bank lending exp. (strong in ag) prefer from corp. bank. SD. $35,000 + . NJ-10 AG LOAN OFFICER—Offers six years banking ex perience. Currently AVP/Ag Rep for $30MM holding com pany bank. Handles $10MM in ag loans, plus shares com mercial and installment loans, and operations. Holds all insurance licenses and has microcomputer experience. Masters degree from ISU. Married. Age: 35. $27-30,000. Call Jean. NJ-11 AG LOAN OFFICER—An excellent candidate for ag banking. His appearance personality and attitude are EX CEPTIONAL. Currently arid for the past six years with FmHA, supervising loans in a drought area. Great refer ences...“ has managed to keep his morale up and maintain a positive attitude...a good judge of ag credit, and knows what loans should be made...needs to be in a bank!” B.S. Farm Op from ISU. Married. Age: 28. Lives IA. $27,000. Call Jean. https://fraser.stlouisfed.org C o nfidential If you have been considering a change, now is an excellent time while the demand for qualified ag lending candidates is especial ly strong. As a third party, we can offer confidentiality required by the applicant. Your information is confidential and will not be devulged to a prospective employer without your approval. Either Linda or Jean would be happy to discuss what kind of exciting career opportunities might be available for a person with your ex perience. NWB-19 AG LENDER— Performance oriented individual for ag bank ($30MM). 3 + yrs. ag lending. IA. $20-30,000. Linda: 515/394-5827 New Hampton, la. 50659 • Jean 515/263-9598 if no answer, 712/779-3567 Massena, Iowa 50853 aonC4RSRS,INC. AG BANKING SPECIALISTS NWB-20 AG LOAN OFF— Handle ag loans, work out de ta ils and documentation, review credit quality and make farm calls for $26MM bank. Requires BS in ag, and ag lend ing experience with bank or PCA. Person must be promotable. IA. $20-30,000. NWB-21 JUNIOR AG REP—$50MM bank needs additional person in ag dept. W ill start out making ag calls and as sisting other loan officers. Must have ag credit experience and four year ag degree. IA. $16,000. CALL ON THE “PERFORMANCE TEAM” where com m on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • M em ber, F.D.I.C. W ® Kurtz, president of Citizens State Bank, Norwood, was advanced to first vice president. The new second vice president is Roy W. Terwilliger, president, Suburban National Bank, Eden Prairie, and the new treasurer is R. Scott Jones, president of Goodhue County National Bank in Red Wing. Illinois News CHICAGO: In a surprise move, First Chicago Corp. announced last Monday that it no longer should be considered a candidate to take over the troubled Continental Illinois Na tional Bank and Trust Co., accor ding to Barry F. Sullivan, chairman and CEO of First Chicago Corp. First Chicago, which owns the First National Bank of Chicago, had lob bied in the state legislature earlier this month for a measure that would give First Chicago the right of “ first refusal” before Continental could be sold to a bank based outside Illinois. ^ ^ • ® ® FREEPORT: State Bank of Freeport has acquired controlling in terest in three area banks from the Lawrence E. McKee family, accor ding to Dan Heine, president and CEO. The three banks involved are Bank of Pecatonica, the Whaples and Farmers State Bank, Neponset, and Rock City Bank. Assets for the three banks total $43 million. ROCK FALLS: Rock Falls National Bank will now be offering discount brokerage services through Wayne Hummer and Company, according to Roger Aschbrenner, president. To help introduce the new service, the bank will be sponsoring a free seminar on Discount Brokerage Ser vice, June 25 at 7:30 p.m. in the main office community room. Phillip Hummer of Wayne Hummer and Company, Chicago, is the speaker. Wisconsin News • • CLINTONVILLE: Paul C. Paddock recently was elected president of Firstar Bank Clintonville. Mr. Paddock joined the bank in 1978 as a loan officer and was elected vice president in 1980. HILBERT: H.D. McWilliams has https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis been appointed president of the State Bank of Hilbert. Previously executive vice president, Mr. McWilliams succeeds George Rossmeier who recently retired as presi dent and a director. Mr. Rossmeier has served as president since 1960. been apppointed president and chief executive officer of the bank. He previously was vice president in commercial loans at First National Bank in Pierre, where he has been the past eight years. MENOMONEE FALLS: Lawrence K. Elton has joined F&M Bank here as executive vice president and chief operating officer. Mr. Elton previ ously was senior vice president, cor porate banking, at First Bank, Mil waukee. Colorado News VIROQUA: Merlin Zitzner, chair man of State Bank of Viroqua, has announced the election of Palmer Hoffland as executive vice president and chief executive officer. Mr. Hoff land most recently was president of Norwest Bank Slayton, Minnesota, and had been affiliated with Norwest Corporation since 1964. South Dakota News SIOUX FALLS: Western Bank in Sioux Falls has announced the pro motion of Michael J. Schumacher to vice president in commercial loans. Formerly assistant vice president, he has been with the commercial banking division at Western since early 1983. He previously spent eight years in banking in Minnesota. SIOUX FALLS: Nels E. Turnquist, chairman of First Bank of South Dakota, announced he will retire Ju ly 1, after more than 33 years with First Bank System. Mr. Turnquist started his banking career in 1951 at First Bank Helena, Montana, and was elected president in 1960. In 1968 he was named vice president and senior liaison officer of first Bank System, Inc., in Minneapolis. In 1972 he was elected president of First Bank of South Dakota and was named chairman in 1980. WAUBAY: H.P. Mogen, president of the State Bank of Waubay, has announced the transfer of ownership of the bank to Frank Farrar of Brit ton. Mr. Mogen, who will continue on a part-time basis, started his banking career in 1937 and plans to retire soon. Brent E. Dykstra has Conrad Kern, chairman of Omnibancorp, Denver, advanced to the presidency of the Colorado Bankers Association June 8 during the CBA annual convention at The Broad moor in Colorado Springs. He suc ceeds Norman M. Dean, president, United Bank of Greeley. The newlyelected vice president is Royce B. Clark, chairman and CEO of IntraWest Bank of Greeley. Meet the problem solvers. Dick Muir Larry Russell Jeff Goble Dave Dickens Melissa Smith \ A [ e’ll meet your needs - . w for bankcard services, oan participations and quality investment portfolio recommendations. fen UNITED MISSOURI BANK Member FDIC 0 f K a i l S â S C í t y ( 1 .3 . United we grow Together. 10th and Grand ° P.O. Box 226 Kansas City, Missouri 64141 (816) 556-7000 Wyoming News AFTON: First State Bank of Afton was acquired by American Bank Corporation, effective May 18, ac cording to D.L. Day, Jr., president of American Bank Corp. The First State Bank also converted to a na tional bank charter and will be known as the American National Bank of Afton. Randy K. Sanderson serves as president of American Na tional. He joined the bank in 1982 and has served as assistant vice president and cashier. 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. NORTHWESTERN BANKER 3 06 - 15th Street D es M oines, Iowa 503 0 9 Phone 5 1 5 /2 4 4 -8 1 6 3 POSITION AVAILABLE SENIOR COMMERCIAL LOAN OFFICER—$100 m illion as set eastern Nebraska bank desires seasoned commercial loan o fficer to manage portfolio. Salary commensurate w ith experience. Contact 402/727-1100. (PA) VICE PRESIDENT/AQRICULTURAL LOANS— Excellent career opportunity. Requires bachelor’s degree (emphasis in agricultural subjects preferred) and a minimum of 3 to 5 years experience In ag lending. The individual must pos sess a working knowledge of agriculture, including the production of 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) 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. Write 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, Montevideo, MN 56265. (PA) SECOND OFFICER—$15 m illion asset broadly owned community bank in Butte, Montana, seeks person with 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, Butte, MT 59701. (PA) 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) SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 Financial Careers Estate Appraisals President for $50 million Illinois bank. Must have proven re cord ................................ To $70,000. Purchase of Collections Number Two banker w ith commercial and ag lending record for Iowa bank in $50 m illion deposit range.............. ..................................... ............................. ..To $42,000. Cashier for $30' m illion southern Iowa bank. Ideal working conditions and recreational area.....................................To $28,000. Sale o f Rare Coins Number Two person for southern Illinois bank. Excellent s itu a tio n ............ ......................... To $35,000. Reliable and respected service for over 20 years Ag Lender for $60 m illion northern Iowa bank. Opening due to retirement. Nice com m unity.................. To $28,000. Used by bankers throughout the midwest Commercial Lender for southern Minnesota, multi-bank holding company bank.......................................To $30,000. Commercial Lender for large western Iowa bank. Requires at least 5 years experience with larger b a n k .. .To $35,000. Ben E . Marlenee Coins Number Two person for northeast Iowa com m unity bank. ............................................................................... To $35,000. Lender for $50 m illion bank located in lake areaTo $28,000. 913 Locust Des M oin es, Iowa 50309 515-243-8064 Auditor w ith CPA degree and bank experience for major eastern Iowa bank........................................................ Salary open. Loan Review Officer for major bank holding c o m p a n y .. . . ............................................................................... To $35,000. Ag Lender for northeast Iowa com m unity bankTo $30,000. Ag Lender for community bank located on M ississippi........ ..................................................................................To $25,000. BANKING PRESIDENT - Nebraska bank, $85 mill. $70K + PRESIDENT - Nebraska bank, $25 mill. $45K + EXEC-Iow a bank, $45 m ill. $40K + TRUST OFFICER - $70 m ill. Nebraska bank. $33K. CREDIT MGR. - Large midwestern bank, requires RMAOmega. $40K. Let’s talk about your career goals and my clients’ needs. All fees, relocation, and interview expenses are paid by my clients. Ag Lender for $100 million Iowa bank. Requires college de gree and bank experience................................... .To $30,000. Commercial Lender with five or more years experience for $300 m illion Illinois bank................................................ SalaryOpen. 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. WANT TO BUY Phyllis S. Lynch GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 402/330-3260 DIEBOLD 906 OR 910 FREESTANDING ATM—Contact Ken or Ron at 402/288-4242. (WTB) FOR LEASE FOR SALE SIX MILLION DOLLAR BANK—Outstanding earnings. Located in Illinois town of 1,000. Clean. Contact file WBN, c/o Northwestern Banker. (FS) VAULT DOOR 7” used. Phone 402/453-6600 (FS) 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) LUCY HUBER MUNICIPAL BOND "Banking Specialist" We are looking for an experienced municipal 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. 7625 Metro Boulevard • Suite 350 Minneapolis, Minnesota 55435 Phone (612) 835-4466 MANAGEMENT RECRUITERS OF MINNEAPOLIS THE SEARCH AND RECRUITING SPECIALIST F & M MARQUETTE NATIONAL BANK 6th & Marquette Minneapolis, MN 55480 Equal Opportunity Employer BANK AUCTION As we have moved into our new location, we w ill be having an auction of all of our previous bank fur niture. Available for purchase w ill be a large solid wood president’s desk w ith 10 ft. credenza; four large o fficer desks w ith walnut finish and matching credenzas and returns; several more desks with returns; a six window curved teller counter with walnut finish and matching 25 ft. storage counter, and a 5 ft. round custom er counter w ith walnut base. Also a good selection of officer and secretary chairs and misc. o ffice equipment and furnishing. Saturday, June 23 at 1:30 p.m. North Shopping Center Spencer, Iowa For more inform ation contact Brent Hanson or Ronald Milbach at 712/262-2200 lucbl UNITED CENTRAL B A N K AFFILIATED WITH UNITED CENTRAL BANCSHARES. INC. MEMBER FDIC (PA) POSITIONS AVAILABLE COMMERCIAUINSTL. LOAN • $80MM bank with 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 with 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 PRESIDENT - major midwestern holding company seeks experienced CEO w ith strong agricultural loan back ground to manage $45MM affilia te bank. $ Open All inquiries confidential. Resume’ requested. TOM H AGAN & ASSOCIATES P.O. Box 12346 - 2024 Sw ift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 13 No. 9 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
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