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Federal Reserve Bank of St. Louis

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''Providing our customers with quality
service demands more from us than
simply a surface response. We go
deeper. Take overline and liquidity
loans, for example.
"At MNB, we act decisively on all
overline loan requests. But first, our
qualified experienced loan specialists
study the situation and apply fresh,
innovative thinking in tailoring a loan
package to your bank and your bor­
rower's individual needs."
An opportunity to serve.
"W e believe a loan request is an op­
portunity to serve — not only the bor­

rower but the respondent bank and
the community it serves. So, the close
working relationship we create and
maintain with each of our respondent
banks and their overline customers
assures continued growth, stability
and quality in their loan portfolios
and ours."
If quality service is important to
you, too, call 319/ 398- 4320 , or call,
toll free, 1- 800- 332-5991 and talk to
Jerry or MNB Correspondent Banker
John E. Mangold, Stan R. Farmer or
Terry M. Martin.

Merchants National Bank

Cedar Rapids, Iowa 52401
Federal Reserve Bank of St. Louis

Member F.D.I.C.



The successful banking software company defines its priorities:

founders o f integrated
banking softw are

banking softw are m ade as com plete
and perfect as humanly possible

in banking software,
our goal is perfection

an important tradition
carried forward in our banking softw are

pushing back the boundaries
o f banking softw are

m ore banking softw are
per penny

banking softw are

* commitment:
providing banking softw are
for all your tom orrow s

*In ^ * f years, we haven’t shuffled our priorities.



P.Q. Box 2269 - Orlando, FL 32802 - (305)831-3001
International Headquarters: 711 E. Altamonte Dr., Altamonte Springs, FL 32701
Los Angeles Office: 6033 W. Century Blvd., Suite 1150, Los Angeles, CA 90045
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983


Docutel/LeFebure Form
ATM Marketing Agreement

JUNE 1983


90th Year


No. 1437


The scene on the cover of this issue captures the majesty and mystery of Mt.
Moran, one of the major focal points in the Grand Teton Mountains in north­
western Wyoming. The artist of this beautiful oil painting is Keith Fay, a noted
resident of Jackson who has become one of the area’s finest painters of The
Tetons. His studio (open to the public) is on Teton Valley Road in the town of
Wilson, just outside of Jackson, and offers a magnificent view of these majestic
sentinels of the Snake River and famed Jackson Hole. This painting of Mt. Moran,
done especially by Mr. Fay for this issue, shows in the upper center of the moun­
tain the snow-filled glacier that feeds Hidden Falls at a lower level and eventually
Jenny Lake, which snuggles directly at the base of this towering mountain.

D ocu tel/O livetti C orporation,
Dallas, Tex., and LeFebure Corpora­
tion, Cedar Rapids, la., have for­
malized a special agreement under
which LeFebure will market auto­
mated teller machines produced by
Docutel/Olivetti to its financial in­
stitution customers nationwide.
The agreement was announced
jointly recently by Frank R. Marlow,
senior vice president-marketing for
D ocutel/O livetti, and M ylo D.
Schultz, vice president-sales and
marketing at LeFebure. Mr. Schultz
said it represents a unique means of
meeting the demands of commercial
banks and savings associations for
electronic banking systems.



The Planning and building process

Bankers, consultants join in giving readers some insights


Planning—a necessary pain

Collin Fritz analyzes the steps that make the trip rewarding


Hire a consultant?

Mylo D. Schultz (left), v.p.-sales and
marketing of LeFebure, and Frank R. Mar­
low, sr. v.p.-mktg. for Docutel/Olivetti,
discuss the advantages of Docutel’s latest
ATM at LeFebure’s demonstration and train­
ing center in Cedar Rapids, là., following
the signing of a special joint marketing

Claude D. Dawson discusses how to find one, what to expect


Planning—a learned skill

Consultant James R. Morgan helps develop trained managers


Minnesota project a success

Ag-lending pilot via computer is a winner

31 Minnesota Program
46 South Dakota Convention Report
61 Montana Program

54 Wyoming Program
67 Nebraska Convention Report



Bank Promotions
Twin Cities

North Dakota


Des Moines
Index of Advertisers

306 15th Street, Des Moines, Iowa 50309

Phone (515) 244-8163

Publisher & Editor

Associate Publisher

Associate Editor


Ben Haller, Jr.

Steve Burch

Becky McBurney

Malcolm K. Freeland

No. 1437 Northwestern Banker (USPS 397-620) is published monthly by the Northwestern
Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscription $1.50 per
copy. $18 per year. Second Class postage paid at Des Moines, Iowa and at additional
mailing office. POSTMASTER: Send all address changes to Northwestern Banker, 306
Fifteenth Street, Des Moines, Iowa 50309.
for FRASERBanker, June, 1983
Federal Reserve Bank of St. Louis

“ LeFebure has been analyzing the
changing ATM needs of this market
and examining the various products
available,” Mr. Schultz said, “ and we
are convinced that Docutel/Olivetti
offers the finest ATM line available
today. They were the first in the
business and have been on the
leading edge of this field from the
Mr. Marlow said the products will
be made available across the United
States through LeFebure’s nation­
wide network of over 200 highly
trained sales engineers.
LeFebure, a division of Kidde,
Inc., is a major manufacturer of
banking and security equipment with
regional offices and service centers in
all principal cities in the U.S.
“ The addition of Docutel’s ATMs
round out our line of cash handling
equipment,” Mr. Schultz added.



The Future is Now.
Banks in the United States and
Europe have asked for a total man­
agement solution to their cash vault
needs. A s o lu tio n th a t goes fa r
beyond the batch processing sys­
tems of today.

Management System can provide
the information and comprehensive
m anagem ent re p o rts needed to
make your cash vault more produc­
tive. And provide better customer

The need?

Make an appointment with your
future. Call Brandt for a timely de­
monstration of the CVM-4000 Cash
Vault Management System.

On-line, up-to-the-minute infor­
mation. Instant response on such
critical areas as:
• Inventory status
Brandt. The company that can pro­
• Delivery status
vide all y o u r m oney pro cessin g
• Teller status
needs. Currency and coin counting.
• Deposit discrepancy
Cash settlement. And now, total
• Order status
cash vault management control and
The Brandt CVM-4000 Cash Vault information systems.

. BRANDT»,.«,
Federal Reserve Bank of St. Louis

P.O. Box 200, Watertown, Wl 53094 (414) 261-1780
Northwestern Banker, June, 1983


system .
Now it’s

available ona
U ntil now, you needed an expensive
m in ico m p u te r to provide a ll the services
required o f an in sta llm e n t loan process­
ing package. But thanks to M onroe, now
you can get e ve ryth in g you need on our
a ffo rd a b le O C 88ÓOSeries m icrocom puters.
You'll fin d th a t ou r In sta llm e n t Loan
Transaction System (ILTS) w ill d ra stica lly
cut the tim e it takes to process a loan,
w h ile it decreases you r costs an d m a rk ­
e d ly increases you r productivity. It a u to ­
mates an d customizes yo u r entire loan
processing system, fro m in itia l ca lcu la ­
tions th roug h credit checks to fin a l form s
p rin tin g .

m ent loans. Some can even p rin t you r
form s. But how m a ny can a d a p t to the
ever-present changes in loan ca lcu la ­
tions? M o nro es ILTS has the b u ilt-in fle x i­
b ility to a d ju s t to constantly c h a n g in g
fees, insurance rates an d more. We teach
you r sta ff to m ake the changes in the
ba nk in m inutes.

F le x ib ility

M anagem ent Reports

M ost in sta llm e n t loan softw a re program s
can autom a te the processing o f in sta ll­

The ILTS produces m a n a g e m e n t reports
autom a tically. Such as a Loan O ffic e r

for FRASERBanker, June, 1983
Federal Reserve Bank of St. Louis

Custom ization
A M onroe representative w ill custom ize
the Installm en t Loan Transaction System
to you r specifications. We use your
insurance com pany in fo rm a tio n , your
credit bureau in fo rm a tio n an d your
form s layout.


Introducing M onroe’s
• Installm ent Loan Transaction System .
Report, w h ic h shows loans an d insurlli a nee totals by w ee k, m onth a n d yea r fo r
in d iv id u a l officers or the en tire d e p a rt­
m ent. A n d the C ollateral Report, w h ich
provides a te m p o ra ry tool to keep track of
0 paper w o rk un til a ll docum ents have
been received.

W hen you purchase the ILTS package
# fro m M onroe, you're purchasing more
th a n just one o f the w o rld s most a d ­
vanced professional m icrocom puters.
You also get the leg end ary n a tio n w id e
• tra in in g an d service fo r w h ich M onroes
3 5 0 -b ra n ch -o ffice n e tw ork is fam ous.
N a tio n a l support o f our local branch
offices assures you o f re lia b le , q u a lity
® service in your office. A n d it's o n ly a

phone call away.
So w h e n it comes to processing in­
sta llm e n t loans, ILTS m ig h t just be the
best in sta llm e n t y o u 'll ever m ake.
Call or w rite fo r a free de m onstration.

8 0 0 -5 2 6 -7 8 4 3 E x t . 4 4 4
(in N e w Jersey, 8 0 0 -5 2 2 -4 5 0 3 Ext. 444)
Monroe Systems For Business
The American Road, Morris Plains, New Jersey 07950


D Yes, I'd like a free demonstration in my office.
□ Please send me more information on the ILTS package.


N a m e _____________________________________________________________________


B a n k ______________________________________________________________________


Title ________________________________ P hone_________________________________


A d d re s s ___________________________________________________________________


C ity ------------------------------------------------------------------- S ta te --------------- Z ip ______________

NTH 6/83


Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983


Bank Promotions

ROMOTIONS and other announ­
cements have been made by the
following banks:
Centerre Bank, St. Louis: The
following personnel have been elec­
ted assistant vice presidents:
Irene Looker, who joined the bank
a year ago as a commercial banking
Rita A. Nyhoff, with the bank 14
years, who has held various posi­
tions including business develop­
ment and commercial banking.
Kenneth W. Schatz, who joined
the bank in 1968 and has been a bus­
iness development officer.
Robert H. Weiss, a 14-year vet­
eran with the bank, who has been an
operations officer.
Commerce Bank, Kansas City:
William J. Sprenger, vice president,
has been named assistant manager of
the correspondent department. To­
gether with Ernie Yake, department
manager, he is responsible for over­
seeing more than 900 correspondent
account relationships nationwide.
Mr. Sprenger
jo in e d
C om ­
merce in 1979 as
a ssista n t vice
president in the
correp on d en t
department. Pri­
or to that, he
had served 18
years w ith a
la rg e K a n sa s
C ity -b a se d f i ­
nance company. He earned his
B.S.B.A. from Rockhurst College in
Kansas City, Mo.
It was also announced that
George L. Hiller, vice president, has
joined the agribusiness department
at Commerce after seven years in
the bank’s international depart­
ment. He is serving as an ag loan of­
ficer. He will work with corporate
accounts in the grain and milling in­
dustries throughout the midwest
and at the Kansas City Board of
Mr. Hiller joined Commerce in
1975 as an international banking re­
presentative and was made vice
president and assistant manager of
that department in 1980. He holds a
BA from the University of Mexico
at Albuquerque and a Master of In-


Digitized Northwestern
for FRASER Banker, June, 1983
Federal Reserve Bank of St. Louis

ternational Management degree
from the American Graduate School
of International Management, Glen­
dale, Ariz.
Continental Bank, Chicago: John
H. Perkins, president, was appointd
last month to a two-year term as cochairman of Chicago United, a con­
sortium of black, white and His­
panic business executives and pro­
Within Continental Bank, two
bankers serving customers in the
midwest were promoted. Beatrice V.
Cook was named second vice presi­
dent in the U.S. banking services
department. She serves correspon­
dent banks in Indiana. Joseph T.
Koch was named second vice presi­
dent of Continental Illinois Commer­
cial Corporation, serving customers
from the Northwest Suburban Chi­
cago office in Rolling Meadows.
Promoted in the trust and invest­
ment services department were: Cor­
nelius A. Twomey to vice president;
Carl C. Gargula and Emil J. Rai­
mond to second vice president, and
Karen C. Szerszen to investment of­
In the financial services depart­
ment: Michael T. Manion to second
vice president in worldwide cash
management division; Patricia P.
Scanlon and Rosemary E. Susalla to
banking officers.
Drovers Bank of Chicago: Thom­
as R. Williams has been appointed
senior executive vice president, it
was announced by James J. Carmody, president. Mr. Williams moved
to Drovers in
1979 from First
National Bank
of Chicago. He
had been a direc­
tor since May,
Mr. Williams
also serves as
chairman of the
senior loan com­
mittee of Drov­
ers Bank, Main Bank of Chicago,
and Bank of Yorktown, all members
of the Cole-Taylor Financial Group.
In his new position, Mr. Williams
will be responsible for banking ac­
tivities, including commercial lend­
ing, personal banking, real estate

lending, and credit policies. He will _
also oversee the bank’s correspon- ”
dent network of more than 250
First Bank La Crosse, La Crosse,
Wis.: Kermit L. Newcomer, M.D.,
has been named to the board of di­
rectors. Dr. Newcomer, 52, currently
is vice president of the American
Group Practice Association and is a
director of the American Academy #
of Medical Directors.
John D. Banker has been elected
executive vice president of the bank,
with responsibility for the credit and
lending functions, it was announced ®
by Stanton M. Jorgens, president.
Mr. Banker, 37, holds an under­
graduate degree from the University
of Notre Dame and received an
M BA in Finance from the Universi- ®
ty of Michigan.



He began his career with First
Wisconsin National Bank System,
serving in its commercial and cor­
respondent banking divisions, spent
two years at the bank’s London of­
fice and most recently was senior
vice president of First Wisconsin
National Bank of Oshkosh.
Mr. Jorgens also announced the
promotion of Thomas W. VanPelt
from commercial lending officer to
assistant vice president, commercial
division. Mr. VanPelt, 26, has been
with First Bank La Crosse since re­
ceiving his B.S. in Finance from the
University of Wisconsin-La Crosse.
Harris Bank, Chicago: Jackson B.
Lynch II has joined the bank as vice
president and head of the card divi­
sion. He served previously with
First National Bank of Chicago and
General Finance Corporation, Evan­
James W. Hill, vice president in
the financial institutions division
serving correspondent banks in
Iowa, resigned recently to pursue
other interests. His future plans
were not announced at the time.
(Turn to page 14, please)

Your ATM.
* Alone. Exposed.
Except for
. Mosler.
Federal Reserve Bank of St. Louis

Seven-day-a-week, 24-hour-aday operation and isolated loca­
tions make ATMs particularly
vulnerable to fraud, vandalism,
attack. But you can protect your
investment anywhere, any time,
through one trusted security
A full-time ATM needs full-time
surveillance, and that’s what you
get with Mosler Photoguard® TV—
a continuous videotape record
before, during and after every
Mosler’s compact ATM alarm
system fits neatly inside the cash
container. Its economical protection
is designed for single ATM installa­
tions. For multiple units, specify the
Mosler 400C Alarm. Or safeguard
an entire ATM network through our
far-reaching COMSEC™ Security
Communications System.

Mosler also offers an Access
Control System for vestibule and
freestanding ATMs, Magna® Night
Depositories with ATM interface
and more. Our broad capability
provides total ATM security with
single-source convenience. And
nationwide Mosler Service main­
tains that ATM security 24 hours a
day, seven days a week.
So buy your ATMs from the
ATM company you prefer, but buy
your security from the security
company you trust: Mosler. For
more information, write Dept.
ATM-83, 1561 Grand Blvd.,
Hamilton, OH 45012.

An Am erican-Standard Company
H a m ilto n , O h io 4 5 0 1 2


Monroe M arkets Com puterized
System for Installm ent Loans
Loan Transaction System has
been introduced by Moore Systems
for Business to help financial in­
stitutions improve their productivi­
ty. The new microcomputer system
is designed to decrease costs and im­
prove overall productivity for in­
dividual loan officers, as well as an
entire loan department.
Robert F. Kane, president of Mon­
roe, which headquarters in Morris
Plains, N.J., says, “ Monroe’s ILTS


integrates all the aspects of install­
ment loan processing usually found
in higher priced systems - calcula­
tions, credit checks, forms printing,
disclosure and management reports
- into one highly functional, affor­
dable microcomputer system. With
our unique ‘customizing’ program,
ILTS users enjoy a greater degree of
flexibility, while they reduce pro­
cessing costs, increase productivity
and offer their borrowers faster,
more specialized service.”

Monroe Systems For Business introduces the computerized Installment Loan Transaction
System (ILTS), which integrates all the aspects of installment loan processing into one
highly functional and customized microcomputer system.

The unique programming ap­
proach permits Monroe to offer a
standard, yet “ customized” pack­
age at a very affordable price on
Monroe’s OC 8800 Series microcom­
puters. A system of software mod­
ules allows Monroe to construct an
individual program, using the
forms, the names of loans, fees, ser­
vice charges, interest and credit in­
surance methods currently in use in
the bank. In addition, changes are
made quickly and easily with stan­
dard maintenance programs. The
user can change interest and in­
surance rates on-site, while the
Monroe representative will make
more complex changes to form
structure or loan calculation meth­
ods virtually overnight, Mr. Kane
The ILTS duplicates the loan pro­
cedures used by most banks so the
loan officers need not change the
loan processing methods to accom­
modate the computer. However,
substantial time savings result from
the elimination of duplicate data en­
try. Customer/loan data is entered
once and can then be modified as
often as necessary until the loan is
finalized. The loan agreement and

Banker, June, 1983
Federal Reserve Bank of St. Louis

other forms are printed automatical­
ly, reducing the chance of manual er­
rors and eliminating tedious typing
chores. The actual loan data may
then be transferred directly to the
bank mainframe via a communica­
tions link.
Two optional reports may be pro­
duced by the ILTS. The Loan Of­
ficer Report provides follow-up
totals for loans and insurance by
week, month and year, individually
or by department. The Collateral
Report is an efficient tool for keep­
ing track of the paperwork on a
secured loan until all forms have
been received. Special program op­
tions are available for Single Pay­
ment Notes, Amortization and Re­
Monroe’s customer service for the
Installment Loan Transaction Sys­
tem is also unique in the microcom­
puter industry.
Monroe Systems For Business al­
so manufactures and markets desk­
top and PROM cartridge calcula­
tors, ledger card accounting ma­
chines, and plain paper copiers, in
addition to microcomputer hard­
ware and software.


SEC OKs “ W all Street of A m erica”
Brokerage Firm for Nebraska Bank
NDEPENDENT Community Bank
N etw ork , In c., o f N orfolk ,
Nebraska has received the necessary
approvals from the Securities & Ex­
change Commission and the Na­
tional Association of Securities
Dealers for a wholly owned sub­
sidiary brokerage firm known as
Wall Street of America, according to
Raymond G. Tiedje, president of In­
dependent Community Bank Net­
work (ICBN) and its affiliate, Bank
of Norfolk.
ICBN, an organization initially
providing community banks with a
cash management micro computer
software product called Money Mar­
ket Checking has developed a unique
brokerage service designed for com­
munity banks. Unlike most broker­
age services, ICBN has developed
its service in such a way as to allow
member banks the flexibility to
make their own choice as to the mix­
ture of fee income and discounted
commissions in order that they may
be profitable and yet maintain a
competitive position


The brokerage service also is
designed to give community banks
complete customer contact and con­
trol without the requirement to
house a registered broker, according
to Kevin Olson, ICBN vice presi­
To supplement the administration
of the brokerage service ICBN also
has developed a micro-computer
software package. The package is
designed to monitor and evaluate
customer accounts and portfolios as
well as printing stock confirmations,
monthly statements and daily port­
folio reports on bank stationary.

Banks Up Mortgage Share
One out of four home mortgages
originated in 1982 were made by
commercial banks, according to the
American Bankers Association.
While banks’ share of the 1-4 family
home mortgage market increased
from 22 to 25 percent, savings and
loan associations’ portion declined
from 43 to 37 percent.

Drovers Bank o f Chicago is actively seeking
correspondent banks. Seeking and earning them.
Fact: Drovers is one of the oldest correspondent
banks in the midwest. Fact: Drovers now has over
250 correspondent banks across the midwest.
relationships last year. Old-fashioned
words like service, responsiveness,
personal attention, expertise and
professionalism. And new-fash­
ioned words like discount brokerage
for your customers and recycling
Market Funds. Call John Crotty, Kathy
Money Mark«
Hardy, Max Roy or Andy Ruments... people who
reflect a continuity in policy and commitment.
Call toll-free 1-800-621-8991,
m Illinois call 1-800-572-2498.

in 1vear.

Drovers Bank

o f Chicago
47th & Ashland A ve, Chicago, IL 60609 • 1-312-927-7000
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983






■ -i








Federal Reserve Bank of St. Louis



Printers may come and go, but a partner can be an asset for years to
come. Deluxe shows you how.

Most qualified check printers can help you solve your printing problems.
Deluxe helps you solve your marketing and operations problems as well.
Which is a skill we've developed during 67 years of paying persistent, long­
term attention to what is important to our customers.
And like a real partner, we know how to help financial institutions
reduce their costs and price their checking programs profitably.
Case in point: Deluxe has developed a data management capability that
offers financial institutions several unexpected advantages and benefits.
For example, simplified pricing administration and unprecedented docum en­
tation of profitability for your checking program. Just as important, we can
tailor a reporting system to fit your specific needs.
In other words, when you choose Deluxe as a partner, you're capitalizing
on our wealth of experience in
check-related areas, plus getting a
depth of marketing support as well.
Take cross-selling: We know
how important it is to make the
most of every opportunity to crosssell your services. That's why we're
dedicated to training your new
accounts staff in both the product
knowledge and people skills
they need. We also supply them
with a catalog that can be tailored
to sell your services as well as
our checking products.
Not the kind of in-depth
perspective you'd expect from an ordinary printer, is it?
Naturally, Deluxe delivers the superior quality, accuracy and reliability
you expect —backed up by our no-fault re-run policy: if there's a mistake,
we reprint, no matter whose fault it is.
A 1982 survey confirmed that bankers across the country consider
Deluxe to be the quality control leader. (You know how important that is
with the soaring costs of exception items in check processing.) And with a
national network of 61 strategically located plants across America, we can
provide consistent, uninterrupted service, whatever the need.
Finally, Deluxe's well-qualified sales representatives are paid a salary to
help you. Not a commission to sell you. Isn't that the kind of commitment
you want from a partner?
To find out more about the Deluxe difference, call toll free: 1-800-328-9584
and ask for Wayne Hansen, Senior Vice President.



Federal Reserve Bank of St. Louis

(Continued from page 8)

ager of the commercial loan division.
He joined the bank in that division
in 1978.
Mercantile Bank and Trust, Kan­
Dennis C. Riffle has been elected
sas City, Mo.: James L. Lanning has vice president in the correspondent
been elected vice
bank department. He joined Mer­
chairman of the
cantile in January, 1982.
board. He will
have direct re­
sponsibilities for
Valley National Corporation,
corp ora te and
Phoenix: Following the recent un­
corresp on d en t
timely death of board chairman
banking as well
Roger A. Lyon,
as m arketing,
55, directors of
and w ill co n ­
the corporation
tinue to serve as
named Howard
senior vice presi­
C. McCrady as
dent of Mercantile Bancorporation, chairm an and
chief executive
officer of the corp o r a t io n and
bank and Leo­
nard W. Huck as
p resid en t and
chief administrative officer of the
corporation and the subsidiary Val­
ley National Bank. At the same
time, Timothy Creedon was elected
vice president of both the
corporation and the bank.
William P. Messer has been elec­
Mr. Lyon died at his home in
ted senior vice president and man­ Phoenix April 16 after an extended

illness. He had been chairman since
September 1, 1982. He joined the
Valley organization in 1976 as presi­
dent of the Valley Bank after a 0
25-year career with Chase Manhat­
tan Bank, New York, from which he
resigned as executive vice president
of the institutional banking depart­
ment to move to the Phoenix bank. #
He was president of the Arizona
Bankers Association at the time of
his death.
Mr. McCrady, 51, had been presi­
dent of the corporation and vice •
president and chief financial officer
of the bank. Mr. Huck, 60, has been
president of the bank and executive
vice president of the corporation.
Mr. Creedon had been senior vice •

R elationship pricing and financial planning
are now at your fingertips
Relationship pricing on a customer-by-customer basis and complete financial reporting,
planning and control are at your fingertips with P R O -FIN and CustomerCalc, two new
computer software programs only from Microtech.
Professionals at Microtech have years o f experience in writing financial
software programs for banks ranging in assets from $5 million to S350 million.
They understand the needs o f financial institutions, and they know how to write
computer software programs that are easy to use. . . all you have to do is turn on
the switch.
P R O -FIN is the management information system designed by a banker for
bankers. This financial reporting and planning model allows you to create and
format your own accounts. From these you may maintain and report actual results,
comparisons to budget, perform projections and “ what-ifs” . . .and so much more.
With PR O -FIN , you’ll spend less time analyzing the past because now you’ll have
help to control your future.
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for FRASERBanker, June, 1983
Federal Reserve Bank of St. Louis


There is. Just ask Citicorp, Docutel, LeFebure, and IBM.
A ship won’t fit into a bottle unless you build it
from the inside-out. The same thing’s true with
ATM and branch buildings. Some companies
design a building then try to figure out where the
customer and hardware fit in. At JBA, we work
from the inside-out. We take your objectives, the
hardware of your choice and then design a
building that encourages consumer use. That
means higher transaction volume on each ATM
in your system and greater market share for you.
We’ve convinced the biggest. Some of the

world’s largest financial suppliers choose our
products. They do this for just one reason:
quality. The kind of quality that comes only from
a company with experience in ATM sales, bank­
ing, design and construction.
We make it easy for you. We can deliver build­
ings with ATM, signage, and security systems in
place. We’ll coordinate site work with your local
contractor. If needed, our buildings are easy to
relocate. And once in place, our functional
designs are easy to service.

Easy to install. Easy to use. Easy to service.
Inside-out designs from

Banking’s ^ A rc h ite c t and Builder
8446 Madison
Omaha, NE 68127
402 592-7070
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983

“With things changing so rapidly today, lenders want more than a
free lunch and small talk. They want fast, knowledgeable advice
and service. When my clients have a question or problem, I don't
always know the answers. But I know I can get them in a hurry
from the MGIC professionals who back me u p .. .the customer
service reps, project specialists, underwriters, mortgage design
analysts and secondary market specialists.
“For example, a lender and his developer recently asked for help
in preparing a project submission package for Fannie Mae
approval. I called my regional project specialist who helped
assemble all the necessary documents. And one of the project
analysts flew in from our home office to write the detailed narrative
sections of the FNMA submission package. Then, at the lender's
request, they both accompanied the developer to make the formal
FNMA presentation. They received immediate verbal approval.
“Another thing my customers appreciate is the capability of our
local underwriters. With today's many mortgage options and
the uncertain economy, underwriting requires a lot of skill,
experience, and knowledge of the local market. I'm proud
of the way our people can quickly analyze the many
variables of each loan. And on occasions when they
just can't insure, they never say no without trying to
work out a solution acceptable to everyone.
“Our daims people are equally capable. They always
respond quickly and thoughtfully. They strive to be
as flexible as possible on forebearance to minimize
losses and to help people keep their homes.”

Kay Adams
Account Executive
Jacksonville, Florida.

©1983 MDA
Federal Reserve Bank of St. Louis


"More and more lenders are looking to M GIC for help in the secondary
market Our specialists have an excellent reputation for knowing what's
happening in the investment world at all times. They keep each other
informed through our nationwide trading network and work hard at
developing new investor contacts. That's why we're often the first to find
out about a deal and the first to alert our customers to the opportunity.
“M GIC’s computerized Truth-in-Lending service makes life a lot easier for
lenders. My customers are amazed at the speed and simplicity of our system.
It enables them to easily conform to the complicated federal disclosure
regulations within the three-day time limit. In just minutes, our system provides
complete, customized TIL disclosure information, including the Federal Box, for
virtually any loan. It's not just fast and accurate, it's economical, too.
"Our TIL system is really paying off for one of my customers with branch offices
throughout California. They do all of their underwriting in the San Francisco area.
With a high volume of loans and many distantly located branches, the threeday turnaround regulation is obviously a tough challenge. But our TIL
system gets the job done.
"Lender employee training is another very popular MGIC
service. I recently arranged to have one of our underwriters
conduct a seminar on underwriting self-employed
borrowers. He told the attendees that by the end of the
day they would be able to underwrite a loan from a 1040
in just 4 minutes. They laughed. But by the end of the
day, they could do it. With the complexities of our
business, and the shortage of experienced
underwriters, training like this is invaluable to
my customers."
For complete information on any of our services,
contact your MGIC Account Executive or call
800-558-9900 (800-242-9275 in Wisconsin).

Eric Rice
Account Executive
San Francisco, California



Working hard to earn your business
Federal Reserve Bank of St. Louis


Hey, see that cute little bank across the
street? Boy are her bricks stacked/'
“Yeah, me and the other stores on the street really like the looks of her . . . kind of adds a little
class to the whole block . . . y'know what I mean7
"Somebody named Kirk Gross Co. came in, started with her Foundations an ’had her put
together in no time at all. Boy, they took care of everything from the bottom up . . . a real turn key
operation. Why, it was just a matter of weeks and there she stood . . . her big beautiful self.
"And believe me, I watched Kirk Gross put her together . . . Boy is SHE BUILT!”

(See Kirk Gross Co. if your new bank plans call for "a little class”)
Federal Reserve Bank of St. Louis


J \ l NUMBER of months ago a good friend, who has years of experience both in a
major regional bank and currently as president of a Community Bank, suggested
we publish some articles on Planning and Budgeting, preferably in summer issues
to give readers time to use the information for the following year. Initially, we
weren’t sure how much this type of information is needed or would be received.
However, as we began making plans for articles, we learned that actually few Com­
munity Banks go through a formal planning process, and all those contacted en­
dorsed this editorial project. Major banks consider strategic planning not as a one­
time goal to achieve but as a “ journey,” a continuing process.
For example, A.D. Frazier, senior vice president and head of strategic planning
for First National Bank of Chicago, says “ Planning is a dynamic is
necessary to examine continually...and to reevaluate the appropriateness of our
strategies. The need to plan for one’s future becomes critical. Strategic planning
refers to the systematic approach to developing strategies. It is the process which
determines how the crucial decisions which determine a company’s future are made.
Profit planning, on the other hand, is the process for developing the annual
To give our readers some insights into that process, three special articles by two
experienced bankers and a CPA-consultant are on the following pages. The July
issue will feature a special report from several Community Bank CEOs in
midwestern states who will tell how they and their banks have benefitted from
developing a formal strategic plan. Comments from readers about their experience
with planning will be welcome.
—The Editor
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983

and budgeting
1 a pain!
• time-consuming!
• necessary!
• financially rewarding!

A N orthwestern B anker
interview with
Banking Consultant
Des Moines, la.

£ 6 A CTUALLY, one of the most difficult things
about planning is just knowing how and where
to start.” With that plain statement, Collin Fritz pin­
pointed a basic “ reason” why so many Community
Bank chief executive officers back away from the dis­
cipline of planning and budgeting. It is a process he
describes not only as useful and financially rewarding
to the bank, but one that will be essential for those
bankers who want to make sure their banks continue
to be recognized as the main financial centers in their
□ ABOUT THE AUTHOR— Mr. Fritz is well qualified to speak
about his subject from his own personal experience. A native of
Des Moines, he earned his BA degree at Grinnell College in 1943
and returned after World War II Air Force duty for his LLB from
Drake University. He then joined Jasper County Savings Bank in
Newton, la., where over a 21-year period he served as manager of
the installment loan department, head of the trust department
and was senior vice president and a director of the bank. He left
that position in July, 1969, to accept appointment from Governor
Robert D. Ray as superintendent of banking for Iowa. After serv­
ing in that post for two years, he moved across the street where
he was elected president of Central National Bank and Trust
Company of Des Moines (now United Central Bank of Des Moines,
N.A.). In that position he gained another perspective of correspon­
dent bank service and the needs of community banks. Since leav­
ing the bank in 1974, Mr. Fritz has managed his own bank con­
sulting service, working with both Community Banks and major
regional banks. Among his many assignments, he has conducted
a number of IRA seminars for banker associations from coast to
coast and has authored IRA and Keogh materials approved by the
IRS and in use at hundreds of banks.

Banker, June, 1983
Federal Reserve Bank of St. Louis

Mr. Fritz suggests that a bank owner first ask some
very personal questions, then answer them with com­
plete candor as a prelude to the actual consideration of
short-term or long-range planning—such questions as:
•Do I really deserve my charter? In what ways could O
I possibly be criticized for my management, or lack of
it, for this charter?
•Just as professionals like doctors, dentists,
lawyers, pharmacists in my community are expected
to pass licensing tests, and take part in continuing ®
education yearly to maintian a current level of compe­
tence, could I really pass a banker’s licensing test? Do
I take the time to learn new products, new techniques
so I will know how to serve my community better?
•What do I want for my bank? Do I want to sell it •
now, or get it into shape to be sold? Do I want to con­
tinue it as a “ family” bank; if so, what needs to be
done, and how many years are needed to accomplish
this? Do I want to lead my bank aggressively as a firstrate competitor for financial service in my community? ®
More Decisions to Make
Once these preliminary questions and selfevaluation are resolved privately by a majority of
owner(s), or by a management team in a more widely ^
held bank, some serious attention can be turned to the
strategic (long-range) planning process.
“ Here again,” says Mr. Fritz, “ the owner or CEO
needs to make a decision. ‘Can I do this job myself, or
should I seek outside help?’ If it’s the latter, especially 9
for the CEO’s first effort at formulating a formal plan
and budget, there are several alternatives.
“ First of all, the CEO can do the job on his or her
own within the bank. Generally, the process will go
down some blind alleys and it may be found later that 4)
unnecessary time was wasted, but it will be a home­
grown, personalized plan that will be well worth the
discipline of doing it.
“ An obvious alternative is to turn to the experience
of others—your upstream city correspondent, or a %
banking consultant who has experience with your kind


Six Steps in Planning and Budgeting
1. Develop management at the bank


Plan for the future
Set objectives—short term, long term
Plan a way to meet the objectives
Organize for the future

2. Review and develop asset management

A. Cash and Due from Banks
Reserve Requirements
Correspondent Services
B. Government Bond Account
Objectives, Program, Yields
C. Government Agencies
D. Municipal Portfolio
Objectives, scheduling, planning
Tax Consequences
E. Other Securities
F. Lending Division
Objectives, Procedures, Policies, Rates, Maturities
Agricultural Loans
Installment Lending
Commercial Loans
Real Estate Loans: City, Commercial, Farm
Insured Loans
Participation Loans—Upstream, Downstream
Federal Funds
Development of SBA Loan Program
3. Liability Management

A. Deposits
Savings—Regular or Special Plans
Time Certificates—Maturities

of bank and community. Your correspondent can help
yor with some basic planning ideas, and give counsel
on selecting a consultant, if desired.”
A Six-Step Plan
When Mr. Fritz was asked what advice he would
give bank owners who wish to consider initiating a
planning and budgeting program for their bank, he of­
fered a concise, two-page outline. It is the same outline
he uses when asked to assist bank management in
formulating a strategic plan and drawing up a budget
to implement it. (See accompanying illustration.)
“ But first,” Mr. Fritz emphasizes again, “ we
discuss overall objectives, especially continuity of
management, and in each case I ask them, ‘Do you
have a one-bank holding company?’ As most bankers
know, this is an ideal method for developing continuity
or consolidation of ownership. Quite often it’s true that
a problem in many small banks is that ownership now
is being held by second and third generations removed
from the locale of the bank—frequently, they’re living
in Florida, Texas, Arizona or California.
“ The local bank in many cases takes care of only
10% of the shareholders. The other 90% have a tenden­
cy to hang onto their stock for emotional and not
economic reasons. The holding company can provide a
market for bank stock, and shareholders from estates
living in removed states are more likely to sell.”
All of this discussion about a one-bank holding com­
pany, says Mr. Fritz, helps resolve the question,
“ What do you want to do with the bank?” A 1BHC
also provides the vehicle through which many financial
Federal Reserve Bank of St. Louis

State and Local Government Certificates
Large Commercial CDs
B. Expenses
Fixed Costs
Interest Cost
C. Capital Accounts
Undivided Profits
D. Loan Loss Reserves
4. Personnel

A. Review of All Employees
Fringe Benefits
Job Descriptions
Review Any Employee Manuals
Maternity Leaves, etc.
5. General Operations

Correspondent Bank Accounts
Cash Requirements
ATM ’s
Computer Services
Service Charges
Directors Reports
Spread Analysis
6. Review, Monitor and Up-date Plan

Assign Responsibility
Set Procedures
Establish Reporting - to CEO, to Board

services denied to banks may still be provided to the
community. In addition, it affords a financial vehicle
that can strengthen the bank, greatly increase earn­
ings, and make possible for owners some intelligent
estate planning that was most difficult before forma­
tion of the 1BHC.
Establishing this point about the bank’s future is
essential, and actually is a part of the first point in his
six-step outline he reviews with owners, and which he
agreed to share for this article.
Analyze Each Step in Detail
Mr. Fritz points out that a highly important exer­
cise that encompasses both Steps 2 and 3 is Spread
Analysis, an exercise that must be performed by each
bank today, regardless of size. He pointed out that the
recent addition of microcomputers in many banks has
provided an ideal tool for quick and easy handling of
this important task.
So far as reviewing each of the six suggested steps is
concerned, it follows naturally, he says, that the whole
concept of planning and budgeting must originate
from, have the total support of, and receive its push
from top management. It is not an intermediate level
management assignment, although each level of man­
agement and supervisors should be included in the pro­
cess at various points in the planning.
He goes through each step point-by-point with the
CEO or the planning team. For example, in Step 1,
(Turn to page 45 please)
Northwestern Banker, June, 1983





» « S it.




a c o n s u lta n t?
•how to find one
•what should he do?

« » ill. „.


Written especially for
T he N orthwestern B anker

Director of Consulting Services
UCB Systems, Inc.
Des Moines, la.
HEN management announces at the officers’
meeting that a consultant has been hired to per­
form an evaluation of the bank, a general sense of
uneasiness permeates the room. Supervisory personnel
become somewhat concerned and begin to question
management’s confidence level in their job perfor­
mance. There is an almost universal feeling of fear and
apprehension. This feeling of unrest is caused by the
generally accepted view that a consultant is a hotshot,
a know-it-all, a person without feelings or compassion,
a head-hunter.
In many instances the bank’s supervisory personnel
should have some apprehensions in that few con­
sultants are really professionally qualified to be bank­
ing consultants. In fact, many have never actually
worked in a bank. Their inexperience is quite evident
when you evaluate their standard approach. Their
standard procedure is to take the work measurement
methodology developed in a factory assembly line en­
vironment and attempt to apply those same principles
to bank operations.
What the inexperienced consultant fails to take into
consideration is the basic fact that banking is a
customer dependent business. This customer depen­
dency and interaction filters down into all areas of the
bank, including operations.
If the consultant could figure out a way to eliminate
the customer, the factory methodology might work.
Since he cannot eliminate the customer, his assembly
line approach will be somewhat unproductive and
something less than satisfactory.


What Do Most Consultants Do?
Most consultants follow the same basic format.
Consultant: “ Mr. Bank President, if I could show

Northwestern Banker, June, 1983
Federal Reserve Bank of St. Louis

•What to expect
you a way to improve your earnings by
$ 100,000 per year, would you be in­
“ Yes! Tell me how.”
Consultant: “ Hire me for 10 weeks and I will show
you. I will perform an extensive review
of your entire bank. I will optimize the
performance level of your staff by
analyzing procedures and standardizing
work practices. I will organize; I will
train; I will document. I will provide
management with a comprehensive
management reporting system detailing
the techniques necessary to control
float, to control staffing requirements,
and to enhance the earnings of the
“ That’s wonderful, can you start tomor­
Once hired, the consultant spends considerable time
interviewing your people. He then gets out his stop­
watch to determine how long it takes to complete
every job in the bank. The final result of the ten week
study is an extensively detailed 147 page report
documenting how many seconds it takes to perform
each function. The report will contain some clerical
processing volume standards based on the assumption
that everyone is fully trained for the job they perform
and that someone else will handle all the customer calls
and interruptions. All recommended staffing levels
will be based on average volumes with no considera­
tion given to peak workload, vacations, or sick leave.
There is usually one small section listing a series of
recommendations outlining some basic modifications
to some procedure or practice that will save one or two
seconds per transaction.
The final section of the report is the recommenda­
tion to reduce staff by eight people. Eight people at an
annual salary of $15,000.00, including fringe benefits,
represents an annualized savings of $120,000. The con­
sultant is happy; he exceeded his expectations by
$20,000. Bank management is happy, and immediately
implements a hiring freeze to reduce staff by eight peo­
ple. The supervisors are unhappy, as their apprehen­
sions were valid. The consultant has lived up to his
reputation, he is a bona fide head-hunter.

Should I Hire Consultant?
Your decision to hire a consultant to evaluate the
bank, and hopefully enhance the earnings, can be very
difficult. You may realize that your earnings are not
what they should be; you may realize that some pro­
cedures in the operations area are somewhat out of
date; you may realize that certain areas of the bank ap­
pear to be overstaffed.
The first approach to correcting known problem
areas is often performing an evaluation using existing
employees. Unfortunately, this approach usually falls
short of attaining management’s objectives or expec­
• There is a tendency not to listen to in-house people.
• In-house personnel are not looked upon as experts.
• There is a fear among employees that their recom­
mendations might antagonize other supervisors
or even management.
• There is the belief that an employee should never
concern himself with the internal workings of
some other area or what another employee is doing.
• Some people think that a good employee is one
who does his job efficiently, and always minds his
own business.
Management expects that supervisory personnel
will perform this function. Usually, management does
not make any allowances for the additional time this
type of evaluation will take to complete. Most super­
visory personnel are overloaded with desk work to the
extent that they don’t really have enough time to
supervise and train properly, let alone allocate the
many hours required to perform an extensive review of
the bank’s operational practices and procedures.

“ It is the responsibility of the
consultant to be extrem ely
accurate and com plete in his
Utilizing an outside consulting service has several
advantages over attempting to perform an in-house
• The consultant has time! He can devote 100% of
his time to the evaluation process.
• He has the experience, if carefully selected. He
has had the opportunity to observe practices and
procedures in many different banks of varying
sizes, in different geographic locations, with a
variety of competitive factors to consider.
• He is objective. He has no long standing friend­
ships or prejudices that could color or inhibit his
• He has not been indoctrinated by preconceived
ideas such as “ we have always done it that way,’ ’
“ the customer will object,’ ’ or “ management is
opposed.’ ’
It is the responsibility of the consultant to be ex­
tremely accurate and complete in his investigations.
He should be thorough and yet realize that the combined
Federal Reserve Bank of St. Louis

efforts of both the consultant and the bank manage­
ment team is to upgrade methods and procedures with­
out noticeably affecting the bank’s primary objective
of providing the optimum in customer services. His
goal is to leave the bank staff with a better under­
standing of how to control income and expense items
and the impact this control can have on profits.

“ Ask som e basic questions
about the specific person
who will be working in your
bank, w ith your personnel.”
How Do You Find A Qualified Consultant?
The search for a consultant who is qualified to per­
form an evaluation of your bank can be time consum­
ing. In most instances, the consultant actually perfor­
ming the review in your bank will not be the person
who sold you on hiring the consultant firm. Therefore,
you will want to find out as much as you can about the
consultant who will be on-site evaluating your bank.
Ask some basic questions about the specific person
who will be working in your bank, with your personnel.
• How much experience has he had actually work­
ing in a bank?
If the answer is none, then keep looking.
If the answer is 5 years or more, ask in what
If the answer is operations, that’s good.
• How much experience has he had consulting?
• What size were the banks in which he consulted?
• Were the banks in an urban area or a rural com­
Do not hire him yet! Check out his references. Ask
for a list of those banks in which your personal consul­
tant has actually worked. Try to get on overview from
senior managment and then talk to the supervisors to
evaluate his ability to communicate and how well he
relates to bank employees. He will be hired to review
procedures and enhance the earnings of the bank, not
to antagonize your employees and/or customers.
What Should a Consultant Do?
It is the function of the consultant to evaluate, docu­
ment, and make recommendations. All recommenda­
tions should be submitted to the president of the bank
for consideration. Bank management has the respon­
sibility to discuss and evaluate each recommendation
submitted and then either reject the recommendation
as inappropriate or approve them and assign respon­
sibilities for the implementation process. The consul­
tant should never be responsible for the implementa­
tion process.
An experienced consultant will concentrate his in­
vestigative efforts in four major areas.
1. Cash Management
Cash management is the moving of deposited dolHIRE A CONSULTANT...
(Turn to page 53, please)
Northwestern Banker, June, 1983

tages. And, like businesses in other industries, more
and more banks are beginning to turn to formalized
planning processes to meet such demands.

Planning is a
learned skill
Written especially for
T he N orthwestern B anker

Managing Partner
Planning Professionals, Inc.
Milwaukee, Wis.
HE PROTECTIVE environment that in many
cases has almost insured bank profitability is rap­
idly being destroyed by squadrons of regulatory, com­
petitive, economic, technological and social changes.
As a result, many financial institutions are finding a
need to change direction and redefine management
philosophy and management processes. In the words
of one of our clients, representing a 125-year-old midwestern bank, “ As the things that our industry has
essentially been based on are rotted away, we’re going
to need management in a way we’ve never needed it
The problem is, many banks have not developed
managers capable of dealing with the new environ­
ment. Neither have they developed new systems for
anticipating changes and creating competitive advan-


□ ABOUT THE AUTHOR — James R. Morgan, managing partner
of Planning Professionals, Inc., directs activities of professional
consultants on his staff and works with clients in evaluating,
designing and implementing planning programs to increase
management effectiveness. Before starting his firm in 1978, he
was engaged in similar activities with a planning consulting firm
in Pittsburgh, Pa., and was executive vice president for corporate
development for Milwaukee Insurance, where he directed all
strategic and operational planning efforts and related corporate
functions. Earlier he was a counselor to clients of Price
Waterhouse & Company, specializing in auditing and taxation. A
certified public accountant and chartered financial analyst, Mr.
Morgan holds M.B.A. and B.B.A degrees from the University of
Wisconsin, and is a lecturer and seminar leader for the Graduate
School of Business and the Management Research Center of the
University of Wisconsin-Milwaukee.

Northwestern Banker, June, 1983
Federal Reserve Bank of St. Louis

Experience of Client Bank
One bank we serve admits to having no real direc­
tion or philosophy prior to involvement in a formalized
strategic planning program. Since its implementation,
the bank improved its earnings ratio from .65 on assets
to more than 1.0. And, as regulatory changes have
come, it has been in a position to actually take advan­
tage of them.
The bank’s management course changed in 1979 fol­
lowing a commitment to develop a framework for an
on-going planning program. The bank is the largest in
its area, with five branch offices and about 30 percent
of the market.
Says the senior vice president of retail banking,
“ Two and one-half years ago we were just moving
along on our own inertia, not really going anywhere.
We realized that we needed to better identify what we
were, what our environment was like, where we wanted
to go, and how we could best get there.”
Upper management felt that an outside firm would
provide the discipline and expertise needed for an effec­
tive planning process. They knew that outside profes­
sionals are often able to provide new insights which
prevent a bank from building on the same, and some­
times stale, ideas about how to approach its business.
Bank Establishes Objectives, Strategy
A firm like ours provides the client with techniques
and applications on how to make a careful analysis of
its businesses, markets and customers, as well as the
competition and external environment. The client then
establishes objectives and proceeds to strategy devel­
opment and implementation.
It is important to note that our client must do the
actual planning and implementation, if the best results
are to be achieved.
Being “ all things to all people,” which often hap­
pens in the banking industry, isn’t always wise, be­
cause some business may not be profitable. Strategic
planning forces a hard look at all services and areas of
operation, and forces subsequent decisions on where
competitive advantages lie and how to capitalize on
them. And that leads to greater profitability.
When a bank plays the numbers game, it looks at
the number of accounts it has and wants to see that
number grow. Expansion of the number is not the
answer to improved profitability if the new accounts
themselves are not profitable. A bank should know the
price it is paying to add new accounts or maintain
those it already has.
One of our clients, for example, had a high number of
regular savings accounts with millions of dollars in
deposits. Fifty percent of those accounts maintained
less than half a percent of the total balance. The bank
found it could close half of those accounts, which had
average balances somewhere less than $14, and tre­
mendously cut its processing and administrative
Commitment Makes Plan Work
Strategic planning does resolve lack of direction, hitLEARNED SKILL...
(Turn to page 53, please)

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Federal Reserve Bank of St. Louis

Minnesota Bankers Association reports—

Computer ag-lending
pilot project is a
big success
A TYPICAL situation shows a banker (left)
during an initial loan interview with a farm
couple in the bank...

Ed. Note: In the February, 1982, issue
of the N orthwestern B anker , we
published a feature article describ­
ing the Computer Assisted A g Lend­
ing Pilot Project that had just been
initiated by the Minnesota Bankers
Association in cooperation with the
University of Minnesota. The accom­
panying article is a follow-up to give
a one-year-later report on this highly
successful program.

N EXPERIM EN T putting 20
M innesota bank ag-lending
...then visiting with them on the farm for departments “ on-line” is showing
followup discussion...
that the marriage between the com­
puter and bankers goes beyond mak­
ing operations more efficient.
It’s helping bankers work smarter.
A year and a half ago, the Min­
nesota Bankers Association teamed
up with the University of Minnesota
Agricultural Extension Service to
sponsor a pilot program helping
bankers and their farm borrowers
better judge the feasibility of
agricultural loans by enlisting the
help of custom computer programs.
Since the experiment’s inception
in December of 1981, the computer
...and then, with the terminal equipment in based ag-lending project has earned
the bank, accessing the University of Min­ high marks from both bankers and
nesota computer for pertinent data...
Confidence is a Benefit
“ Confidence is really the benefit,”
said Clinton Kurtz, president, Cit­
izens State Bank of Norwood, one of
the program’s participating banks.
“ If you’re careful about the data you
put into the computer, you can get a
very thorough analysis of the loan
decision in a matter of minutes.
That degree of thoroughness gives
you a definite sense of confidence
about the decision you eventually
Mr. Kurtz says his farm custom­
...after which a printed reponse comes
ers also appreciate the extra meas­
almost immediately to the bank terminal to
assist in the loan analysis.
ure of confidence gleaned from an­


Banker, June, 1983
Federal Reserve Bank of St. Louis

alyzing future loan decisions with
the help of the computer.
“ Those who get credit proceed
with the knowledge that, at least on
paper, the venture they’re about to
undertake looks economically feasi­
ble,” said Mr. Kurtz. He added that
farmers who are turned down under­
stand that the decision was not
reached without careful examina­
“ I ’ve had customers go through
the program, see the cash flow pro­
jections and change their minds
about the loan on the spot,” said
Catherine Adamec, ag-lending of­
ficer for First National Bank, Wor­
“ It doesn’t take them long to see
when an idea won’t fly,” she
stated,” and farmers usually appre­
ciate getting the benefit of this type
of analysis before they’ve sunk a lot
of money into something. Ms. A d­
amec has found there is value in let­
ting farm customers watch her enter
the data into the system and see the
“ Seeing this gives them the idea
that making a good lending decision
requires a degree of technical sophis­
tication along with good judgment,”
she noted.
Making good lending decisions is
what the program is all about and is
the key reason the program was un­
dertaken by M B A in 1981. The pro­
ject consists of four custom com­
puter programs answering basic fi­
nancial questions for Minnesota
grain, hog, beef and dairy cattle pro­
Programs Help Farmers
“ These programs help farmers
answer three questions,” said Rich­
ard Hawkins, project coordinator
and extension economist at the Uni­
versity of Minnesota. “ Where am I
now? Where do I want to be? And,
how can I best get there? Three of


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Northwestern Banker, June, 1983

“The program is an extremely valuable planning tool for farmers.”


the programs are simulations - that
is, they project outcomes for various
alternatives a farmer may want to
pursue. The fourth program is an
analysis of what actually happened a check to ensure the first three
simulations were on track.
The first program, a long range
budgeting plan, shows the profit­
ability of a venture at various debt
levels. If a farmer wants to put 200
additional acres under plow, this
program will show if the venture will
be profitable and how much income
will be needed to service the debt.
Once banker and farmer agree the
loan is potentially viable, the second
program is used to project the
farmer’s monthly cash flow for the
upcoming year. This helps deter­
mine how large the loan should be.
For very large new ventures - for ex­
ample, moving ino the dairy busi­
ness - a third program looks at the
operating budgets and cash flow
over at three year period. This helps
determine the length of time before
a venture becomes self-supporting.
“ This type of analysis helps en­

sure that the farmer won’t go broke
before the operation reaches the pro­
fitability point,’ ’ Mr. Hawkins said.

with them - they were not given a
stack of forms and sent off in a cor­
ner,’ ’ said Ms. Adamec.

Programs Are Up-Dated
Mr. Hawkins stresses that the
projections given by the computer
are only as good as the assumptions
used in the programs and the infor­
mation supplied by individual farm­
ers. Mr. Hawkins and others in the
pilot project have spent the last year
fine-tuning the software to keep it
current with changes in the agri­
For instance, the programs were
amended in January and February
to reflect the impact of the Paymentin-Kind (PIK) program on overall
farm profitability.
Fine-tuning programs is one of
many lessons learned by project par­
ticipants last year. Bankers also
learned how to best take advantage
of the system and how to present it
to customers.
“ I learned right away that I need­
ed to assure my customers that I
would walk through the programs

Lyle Nelsen, vice president at
Nicollet County Bank in St. Peter,
found that farmers are happily sur­
prised and impressed with the pro­
ject when it’s explained as a val­
uable planning tool rather than “ red
tape’ ’ that a bank requires.
“ The program is, in fact, an ex­
tremely valuable planning tool for
farmers, and most of my customers
can’t believe our bank could provide
this sophisticated level of service to
them until they see it,’ ’ said Mr.
The association picked up spon­
sorship of the program after the
Agricultural Extension Service of
the University of Minnesota com­
pleted 10 years of research and
development of decision-aid com­
puter software for farmers. Since
1974 the Extension Service used the
software in test situations at the
Midwest Banking Institute, spon­
sored by the Minnesota, North
Dakota, South Dakota and Montana
bankers associations. In 1977, 6
county offices of the Farmers Home
Administration (FmHA) began test­
ing the program and, in the past
year, the 20 participating banks
have used the computer decision
aids in over 1,170 lending situations.
The American Bankers Association
also contributed to funding the pro­
gram in 1982.
The Minnesota Bankers Associa­
tion is committed to continuing
sponsorship of the program for
another year and a half, during
which time the system will be con­
verted from the University of Min­
nesota’s main computer system to
micro computers.
Once the programs are available
for micro computers, the cost of run­
ning loans through the system will
be reduced and other community
banks will have easy and relatively
inexpensive access to the program,
says Wayne Berthiaume, M BA ad­
ministrative vice president.
“ W e’re told by bankers in our
state that micro computers are al­
ready becoming commonplace in
community banks,” said Mr. Ber­
thiaume. “ Converting the computer
assisted ag lending programs to
micros is the logical next step. ’ ’ □

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Banker, June, 1983
Federal Reserve Bank of St. Louis


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M innesota
Hard working people. Going the extra mile today
to enjoy the opportunities of tomorrow. With the help
of Minnesota bankers.
We look forward to seeing you in Minneapolis, June 20
and 21, at the Minnesota Bankers Association Convention.


First Bank M inneapolis
Correspondent Banking Department.
First Bank Place, Minneapolis, MN 55480 (612) 370-4762
Federal Reserve Bank of St. Louis






CHANGED format in the state convention to re­
flect member banks’ keen interest in useful
business information is evident in the program for the
Minnesota Bankers Association’s 93rd annual conven­
tion. M B A President John Ingebrand, president of
Kanabec State Bank in Mora, said the program com­
mittee devoted a great deal of time to fashioning a
“ program of information.”
In keeping with this “ Information Convention”
theme, registrants will find three general sessions of
just one and one-half hours each. The balance of the
convention business time will be devoted to a dozen
special interest sessions providing bankers with an up­
date on varied topics of concern in today’s bank man­
agement. These topics range from the technical (i.e.,
microcomputers, tax planning, laws and regulations)
to the development and management of bank person­
In addition to the general and special sessions, Con­
vention General Chairman Carl Pohlad, president of
F&M Marquette National Bank, and his committee
have included traditional events for spouses and social
events for all participants. Men’s and women’s golf
tournaments have been scheduled along with two re­
ceptions, the annual banquet and a casino party.
Assisting M B A President John Ingebrand this past
year has been First Vice President Herbert A. Lund,
president, Security State Bank, Albert Lea; Second
Vice President Galen T. Pate, president, Signal Hills
State Bank, West St. Paul; Treasurer James R. Jorstad, president, Citizens State Bank, Hayfield, and E x­
ecutive Vice President Truman Jeffers. The program
schedule follows:



2nd Vice Pres.

Exec. Vice Pres.

Federal Reserve Bank of St. Louis

Monday, June 20
7:30 Men’s golf tournament, Minnetonka Country
Club, Excelsior, and Olympic Hills Country
Club, Eden Prairie.
8:30 Women’s golf tournament, Lafayette Country
Club, Minnetonka.
10:00 Registration desk opens, Nicollet Ballroom
12:30 Women’s hospitality room open, Regency
1:00 Exhibits open, Exhibit Hall.
2:30 General session: Nicollet Ballroom.
Presiding: M BA President John P. Ingebrand.
M BA treasurer’s report.
Report of the resolutions committee.
A B A meeting and election.
•John Elkins, vice president, The Naisbitt
Group and Trend Report, Denver, Colo.

1st Vice Pres.



Northwestern Banker. June. 1983


Minnesota News



4:15 Special interest informational sessions will be
held concurrently three times during the con­
vention. Sessions to be offered include:
♦Emergency Preparedness;
♦Laws & Regulations Update;
♦Microcomputers in Banking;
♦Being All I Can Be;
♦Incentive Programs for Bankers;
♦Megatrends Impact on Banking (Monday
♦MBA Media Contact Bankers Meeting (Tues­
day morning only)
♦MBA Pension Program Participants Meeting
(Tuesday afternoon only);
♦Managing the Troubled Employee;
♦Success and Survival of the Family Owned
Business, and
♦Tax Planning for the Community Bank.
5:15 Reception hosted by exhibitors.
6:30 First Night Casino Party, hosted by Twin Cities
correspondent banks, Nicollet Ballroom.

Tuesday, June 21
7:00 Registration desk opens.
7:30 Prayer breakfast.
•Guest speaker: Mrs. Norman Vincent Peale.
Music by Marilyn Sellars.
8:45 Tour of WCCO Radio and Television.
9:00 Exhibits open.
9:15 Tour of Bachman’s and Reindeer Square.
9:45 Tour of Fort Snelling.
9:15 General session.
•Address: E. Gerald Corrigan, president,
Federal Reserve Bank, Minneapolis.
Report of the M BA nominating commmittee.
Election of M BA 1983-84 officers.
Report of M BA Executive Vice President
Truman L. Jeffers.
•“ Washington 1983: W ho’s Doing What to
Whom and W hy’ ’—Peter Hackes, NBC News
Correspondent, Washington, D.C.
10:45 Announcements, break.
11:00 Special interest sessions.
12:30 President’s luncheon and program.
Installation of 50-year bankers.
Recognition of past officers.
Introduction and installation of 1983-84 M BA
officers and board members.
Report of the president - John Ingebrand.
•“ The Positive Principal Today’ ’—Dr. Norman
Vincent Peale, author and lecturer.
3:00 Announcements, break.
3:15 Special interest sessions.
5:00 Reception, Greenway Ballroom.
6:30 Annual Banquet.
Entertainment - Paul Todd and Linda Eder
Dancing to the Jules Herman Orchestra.


Marilyn Sellars

Paul Todd and Linda Eder

You Will See Them at the 93rd Annual
Minnesota Bankers Convention
HE following metropolitan bank­
ers and service and equipment
dealers have indicated that they will
be attending the 93rd annual con­
vention of the Minnesota Bankers


Banker, June, 1983
Federal Reserve Bank of St. Louis

Association in Minneapolis, June

20- 21.
First Bank: Dennis E. Evans,
chairman and chief executive officer;

Richard W. Schoenke, president;
Robert J. Anderson, executive vice
president; Kenneth A. Wales, senior
vice president; Michael E. Boncher
and Lee C. Hamilton, vice presi­
dents; Allen G. Highum, Jerome R.
Larson, Michael P. LaVigne, Sally
A. Laux, J.P. Mansfield, III, Donald
D. Mikelson, Jack L. Quitmeyer,










When the bank guaranteed that you
would only deal with one person,
you didn’t know they meant one after another.




Perhaps it’s happened to you.
Just when you had built up a
working relationship with your
correspondent banker, the bank
moved him up the corporate
ladder and off your business.
All too often, a large bank can be
insensitive to the needs of small
respondent banks. Yet smaller
banks that can give you plenty of
personal attention can’t always
give you the expertise and the
clout you need. And you’re
caught in the middle.
You do, however, have an
alternative: Norwest Bank
Midland. We’re big enough to
handle any of your corres­
pondent banking needs. But
we’re still small enough to
Federal Reserve Bank of St. Louis

respond to your individual

correspondent bankers. Not one
after another.

We’ve deliberately kept our
Correspondent Division small, so
that you can deal directly with a
decision maker. Each of our
correspondent bankers has from
12 to 25 years of experience in
the business, so they thoroughly
understand the needs of
respondent banks. They take the
time to personally call on both the
respondent bank and the
respondent’s customers.

We’re big enough to know how
and small enough to know you.

Norwest Bank Midland, N.A
401 Second Avenue South
Minneapolis, Minnesota 55480
(800) 752-4200
Member FDIC

If you’re tired of banks that are
too large or too small, come to
Norwest Bank Midland.
You’ll develop a close working
relationship with one of our

Northwestern Banker, June, 1983


Minnesota News

Minnie B. Schroeder, Dolores D.
Walstrom, and Edward L. Whalen,
assistant vice presidents; Beverly
A. Kieffer and Mark B. Landreville,
correspondent banking officers;
Larry C. Nelson, bond investment
officer; Brad Roberts, agricultural
loan officer; Vincent McMahon,
bond investment representative.
F&M Marquette National Bank:
Carl R. Pohlad, president; Philip
Gallivan, E. Thomas Welch, Wm. C.
Rosacker, senior vice presidents;
William K. Klein, William J. Ad­
dington, Jack Campion, vice pres­
idents; Richard E. Holmes, Jim
Kammerer, Dean Fordyce, Ralph
Nelson, assistant vice presidents;
Larry Kraayenbrink and Sandy
Sickles, correspondent bank of­
ficers; Mark E. Schabert, correspon­
dent credit officer; Craig Bishop, in­
vestment representative; JoAnn
Hinnenthal, investment officer.
Norwest Bank Midland: Ernie
Pierson, president; Loren Herbst,
senior vice president; Stan Peterson,
vice president; Michael Bodeen and
Dick Erickson, assistant vice
National City Bank: C. Bernard
Jacobs, chairman; James H. Hearon, III, president; Walter Meadley,
executive vice president; Donald
Smith, vice president; and David
Lamb, assistant vice president.
Norwest Bank Minneapolis: W.
James Armstrong, president and
chief executive officer; Richard D.
Schneider, executive vice president;
Donald G. Pederson, senior vice
president; Richard C. Storlie and
John McCune, vice presidents; Scott
C. Ulbrich, Clifford A. “ Ted” Taney,
and James R. Holker, assistant vice
presidents; Thomas A. Swan, Larry
M. Lange, James J. Hilgenberg and
Scott A. Faris, correspondent bank­
ing officers; David B. Butterwick,
correspondent banking represen­
tative; Charles Maddux, William F.
Bracken and Timothy R. Skildum,
investment officers.
New York
Chemical Bank: J.A. Robb, vice
president and C.M. Phillips, assis­
tant manager.
First National Bank: Bob Meisinger, second vice president.
St. Paul
American National Bank & Trust
Company: James W. Reagan, chair­
man; Joseph R. Kingman III, presi­

Banker, June, 1983
Federal Reserve Bank of St. Louis

dent; David M. Hyduke, group vice
president; Robert E. Sipple and
William P. Langford, senior vice
presidents; Thomas Olander, vice
president; and Craig E. Redalen, of­
ficer, Jana Kirkeby, officer, Janis
Kern, credit analyst, Paul McGee,
representative, all in the correspon­
dent banking division.
The First National Bank: Andrew
G. Sail, president; John F. Mullen,
executive vice president-investment
division; Division 1—Banks and
Bankers: Dale S. Hanson, senior
vice president; James A. Russell,
vice president; Kenneth A. Cain and
Donald L. Lindeman, assistant vice
presidents; Cynthia L. Gale and
Thomas L. Mork, correspondent
banking officers; Michael A. McArdell. Securities Sales: Richard C.
Swanberg, senior vice president;
Clayton L. Johnson, vice president;
Jerome Borovansky, Robert F. Hall,
Ira Smith and Roy T. Ziegler, assis­
tant vice presidents; Gene W. Anonsen and Doisey Landry, investment
officers; Joan Joseph and Stephanie
Bank Equipment and Other Firms
HBE Bank Facilities, St. Louis:
Carl Conceller, vice president/sales
western division; Gerald Sano, ac­
count executive.
North Central Life Ins. Co., St.
Paul: Roland Allen, market center
manager; H. Parker Rinehart, Ron
Peterson and Richard Simmons.

Elected in Maple Grove
James Heig, president of Norwest
Bank Maple Grove, has announced
the election of Thomas A. Dudich as
vice president in charge of mortgage
banking. He replaces Roger Helm
who has been elected an assistant
vice president in charge of Norwest
Mortgage, Inc.
Mr. Dudich previously was with
Union Bank and Trust, Minneapolis,
and FBS Homes and First National
Bank of Hutchinson.

One Elected in Owatonna
Kenneth E. Wilcox, president of
Norwest Bank Owatonna, N.A., re­
cently announced the election of
Kristin M. Meier from personal
banking officer to the position of
real estate loan officer.
Ms. Meier has been employed at
Norwest Bank Owatonna since 1977
in the personal loan department.

Hutchinson President Named
Arthur L. Cooper has been elected
president and a director of First Na­
tional Bank of Hutchinson, accor­
ding to Arnold E. Witte, the bank’s
Mr. Witte, who has been with
First National Bank of Hutchinson
for nearly 21 years, is retiring as
president. He has been president
and chairman of
the board since
January, 1981,
and remains as
Mr. Cooper,
who for the past
four years has
been senior vice
president of the
First American
Bank of Mar­
shall, is a graduate of the University
of North Dakota at Grand Forks.
His previous banking experience in
Minnesota has been at Minneapolis
and Mankato and at Fargo, N.D.

Promoted in Brainerd
Rod Rangen, personal loan officer
at Citizens State Bank, Brainerd,
has been promoted to the commer­
cial loan department to better serve
the emerging business development
in the community. Mr. Rangen will
continue to handle the agri-business
loans for the bank. A six-year em­
ployee of the bank, Mr. Rangen is a
graduate of St. Cloud State Uni­
versity and of Brainerd Community
College. He also attended the Min­
nesota School of Banking at St.

June Dates for School of
Banking’s 18th Session
The Minnesota School of Bank­
ing’s 18th Resident Session is sche­
duled for June 26-July 1 at St. Olaf
College, Northfield.
Over 25 prominent Minnesota
bankers, educators, consultants and
other specialists will combine their
education and experience to provide
a practical and meaningful exper­
ience to all students attending the
two one-week sessions.
Total registration fee per year is
$350 and should be sent to: Minne­
sota School of Banking, d o Minne­
sota Bankers Association, 332 Bak­
er Building, Minneapolis, Minn.


The name com es from a Sioux w ord meaning "sky-tinted water."
It's well know n as one o f the most scenic states in the nation,
with more than 15,000 lakes scattered across the state.
Join Jim Armstrong, President and CEO; Dick Schneider, Executive
Vice President; Don Pederson, Senior Vice President; and their
associates from the Correspondent and Bond Departments in the
"N orth Star State" for the state bankers convention, June 20 and
21 in Minneapolis.
Norwest Bank Minneapolis, N .A. Correspondent Banking Department


, ^ # 1 ^



Member FDfC




J § ,.*




Federal Reserve Bank of St. Louis



Upper Midwestern banks yet the
total support they need with the
comprehensive correspondent services
offered by First Bank Saint Paul

The services we provide to
correspondent banks take many forms
to help you stay in top form.
Improving productivity and increasing profits.
That's the bottom line of any correspondent banking
Unfortunately, all too often, correspondents
get only a partial commitment from their
correspondent bank in regard to available services
and personal attention.
At First Bank Saint Paul, we provide a full array
of services, including:
Check Clearing Using the latest technology
helps us to process more items, reduce your float,
and speed up funds availability to optimize your
investment potential.
Bank Stock Financing We not only provide the
funds you need, but also the technical experience of
trained correspondent bankers.
Loan Participation Overline loan participation
requires a fast response and strong capital backing.
You'll find them both at First Bank Saint Paul.
Data Processing Up-to-the-minute data

processing equipment allows us to apply current
computer technology to help increase correspondent
productivity and profits.
Investment Services We provide a full range of
investment options, such as government and agency
securities, municipal bonds and money market
Our correspondents know that our size affords
them the financial resources they need; our flexibility
assures them that we can adapt our services to their
specific needs; and our professionals— from
correspondent bankers to support staff— are always
responsive and concerned about providing the best
service available.
Maybe this is the kind of performance you've
been looking for from your correspondent bank.
If you're not getting it, give us a call at (612)
291-5585. Like we said, "the services we provide to
correspondent banks take many forms— to help you
stay in top form."

(lib First B an k Sain t Paul
M em ber First Bank System

Correspondent Banking Division

Northwestern Banker, June, 1983
Federal Reserve Bank of St. Louis

332 Minnesota Street
Saint Paul, Minnesota 55101

¿i |*f|

Federal Reserve Bank of St. Louis


Twin Cities

F&M Marquette National Bank
and Bank Shares Incorporated re­
cently announced the following pro­
Patrick L. Stotesbery has been
promoted to senior vice president in
charge of the bank’s newly formed
strategic planning division. Previ­
ously, Mr. Stotesbery was vice pres­
ident and credit manager.
Bruce W. Gil­
more has been
promoted to sen­
ior vice presi­
dent. Previously
a vice president,
M r.
G ilm o re
joined the organ­
ization in 1976
as a controller.
Prior to that he
was an audit
manager with Arthur Andersen &
Co., and is a graduate of the Univer­
sity of Minnesota.
Richard B. Hume has been pro­
moted to vice president and senior
trust officer. He previously was vice
president of Marquette Capital



Banker, June, 1983
Federal Reserve Bank of St. Louis

Management Corporation.
Margaret A. Majewski has been
promoted to vice president, execu­
tive department, at F&M Marquette
and Bank Shares Incorporated. She
joined Bank Shares in 1967 and was
assistant vice president before
assuming the new post.
William Klein has been appointed
vice president and department head,
correspondent banking. He has been
with F&M Marquette since 1972,
most recently as assistant vice
president, correspondent banking.
Promoted to assistant vice presi­
dent in the bank were: Debra Camp­
bell Potter; retail; Martha Berry,
mortgage department, and Sandra





Hagaman, trust officer.
New officers include: Gary Ruhter, audit; Lynn Anderson, mort- ^
gage; Barbara Hedensten, retail
training, and Marcy Peterson, retail
Kenneth Clemens has been named
assistant controller.



American National Bank, St. Paul,
has announced the promotion of
Robert B. Buck to senior vice president, finance and operations; Gary
M. Senn to vice president and con­
troller; Duane G. Torfin to data pro­
cessing officer, and C. Andrew Rollwagen to personal banking officer.
Mr. Buck joined American in 1975
as assistant controller and was
made controller the following year.
In 1980 he was promoted to vice
president and manages central
operations, controller and safekeep­
ing areas.
Mr. Senn also joined the bank as
assistant controller in 1980 and was
made controller in 1981.
Mr. Torfin joined in 1966 as a








Look for us in
M inneapolis

Jim Reagan

Joe Kingman

Bill Langford

Tom Olander

Jana Kirkeby

Craig Redalen

We look forward to seeing our banker friends at the Minnesota Bankers
Association convention in Minneapolis.
We hope to see you there and to talk with you about how our full line of
correspondent services can benefit your bank.

Federal Reserve Bank of St. Louis

B A N K *


Northwestern Banker, June, 1983


Minnesota News

computer operator. Mr. Rollwagen
started in 1980 and in 1982 was pro­
moted to personal banker, senior.



First Bank Minneapolis has an­
nounced the elections of four vice
presidents, 11 assistant vice pres­
idents and 13 officers.
Elected vice president were: Otto
V. Byhre, Jr., bond department. He
will be responsi­
ble for a new
public finance
Stanley W.
Kilbey, who had
been assistant
vice president of
the bank’s Lon­
don branch.
Paul S. Bauer,
0 .V. BYHRE, JR.
from assistant
vice president in the interim con­
struction loans division.
Kathryn B. Brewer, from assis­
tant vice president in the corporate
D division.
Named assistant vice president
were: James W. Shreve, national
west division; Monte E. Deckerd,











natural resources division at the
Denver representative office; Cathleen Callahan, natural resources
division; Kent D. Carlson, interim
construction loans division; Janet
M. McKenzie and Thomas J. Peters,
executive and professional banking
division; Lavera P. Fransen and
Karen M. Sjoberg, personal trust
and probate division; Reid L. Van
Duyn, trust agency/custody divi­
sion; Elizabeth L. Stirriup, trust
securities and control operations
division, and Larry R. Hill, funds
New officers to the bank are:
Bradley F. Roberts, correspondent
banking; David P. Grandstrand,
money market; Mark J. Ouradnik,
Kathleen A. Drannen, Kathleen P.
Geske and Jeffrey N. Miller, com­
mercial banking; Barbara G. Peter­
sen, commercial finance audit; Kimi
Y. Martin, retail marketing; Gary L.
Greenberg and Angela M. Vikesland, financial planning; Hattie S.
Paige, personal banking; William L.
Bohrer, systems, and Cynthia E.
Fossey, training.



Banker, June, 1983
Federal Reserve Bank of St. Louis



Twin City Federal (TCF) and First
Bank System, Inc., have announced

an agreement to share off-premise
automated teller machines through­
out the state of Minnesota.
According to D.H. Ankeny, vice
chairman, metropolitan division of
First Bank System, and Harvey M.
Kuhnley, chairman and chief ex­
ecutive officer of Twin City Federal,
customers of the First Bank’s and
TCF will have access to 70 ATMs
statewide for deposits and with­
drawals by mid-summer of this year.
First Bank System’s member
banks have 39 off-premise ATM s in
the metropolitan area and 5 others
in Duluth, Mankato, Rochester and
St. Cloud. TCF has 16 off-premise
machines in the metropolitan area
plus two others in Mankato and St.
Cloud. Both institutions have addi­
tional machines located within their
bank buildings that will not be
shared at this time.
Other banks, savings and loans
associations and credit unions that
currently belong to either system
may elect to participate in the shar­
ing arrangement. First Bank Sys­
tem has 88 First Banks and 45 other
banks and savings and loans sharing
its FASTBANK® network.

N o r w e s t B a n k M in n e a p o lis is
o n e o f th e m a jo r A g f in a n c e
b a n k s in th e M id w e s t. We a re
lo o k in g f o r a n e x p e r ie n c e d
p e r s o n to b e c o m e in v o lv e d in
t h is i m p o r t a n t s t r a t e g ic a r e a
o f o u r b u s in e s s .

We n e e d a S e n io r L e n d e r w ith
2 -4 y e a rs o f e x p e r ie n c e to w o r k
in o u r a g r ic u ltu r a l le n d in g d iv i­
s io n . T h is p e r s o n m u s t h a v e a
s tr o n g c r e d it b a c k g r o u n d ,
s p e c if ic a l l y in A g c r e d i t a n d
h a v e th e a b ilit y to g e t in v o lv e d
in s o m e lo a n w o r k - o u t s itu a ­
tio n s . T h is i n d i v i d u a l w i l l d o
s o m e c a llin g a n d w ill b e in ­
v o lv e d in p r o d u c t io n le n d in g
as w e ll a s m a r k e tin g a n d b u s i­
n e s s d e v e lo p m e n t. T h is p o s i­
t io n is b a s e d in M in n e a p o lis
w ith t r a v e l r e q u ir e m e n ts o f
a p p r o x im a t e ly 20% .
We p r o v id e a c o m p e titiv e s a l­
a ry , c o m p le te b e n e fits a n d a n
e x c e lle n t p r o f e s s io n a l g r o w th
a t m o s p h e r e . P le a s e f o r w a r d
y o u r r e s u m e to : P a tti O ’L e a ry ,
S e n io r S ta ffin g O ffic e r, N o rw e s t
B a n k M in n e a p o lis , 8 th S t r e e t
a n d M a r q u e t t e , M in n e a p o lis ,
M N 55479.
Equal Opportunity Employer

NORWEST B a n ks

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With our new name comes a renewed commitment to providing the
business community with innovative, bold financial services.
Norwest Business Credit serves customers nationwide from offices in
Minneapolis, Dallas, Denver and Des Moines.
Were part of Norwest Corporation which has over $17 billion in assets;
we have the energy and the resources to put your best plans into action.
Our custom-designed credit programs can turn your company’s assets
like accounts receivable, inventories, machinery, land and buildings into
working capital.
And well do more than provide you financing. Well work with you on
a day-to-day basis to help you meet your goals. And we’ll stand behind you
with a broad network of financial expertise that’ll help you make the most of
your resources.
That’s what Norwest Business Credit is all about. Financing. And a
whole lot more.
M k M

Federal Reserve Bank of St. Louis

N < M w S r busin ess



Minnesota News

M etropolitan Bank C elebrates Grand Opening

LEFT—Jim Freeman, pres, of Metropolitan Bank, St. Paul, (right), prepares to snip the ceremonial ribbon and kick off the bank’s Grand
Opening celebration of its new location in downtown St. Paul’s Town Square complex. (Left to right) St. Paul City Councilman Hugo
Masanz; Joe Sahli, gen. mgr., Town Square, and Princess of the East Wind Nancy Hertog, St. Paul Winter Carnival, assist. RIGHT—Jim
Freeman welcomes the robot, Me-T-R-O, to the celebration. Special guest Me-T-R-0 is the Metropolitan Bank Group’s spokesman in televi­
sion advertisements and at special “personal” appearances. Metropolitan Bank previously was Gambles Continental State Bank until it
was sold and changed its name in mid-1982.

Clarence A. Adams and Alan
Geiwitz, partners in Keystone &
Orion Associates, have announced
the appointment of George L.
Michael as an Associate in the firm.
Mr. Michael retired two years ago as
a vice president of American Na­
tional Bank and Trust Company of
St. Paul, where he headed a lending
division and later served as mar­
keting director of the bank.



Carl R. Pohlad, chairman of ME I
Corporation, has been cited as one of
the nation’s leading chief executive
officers for the third consecutive
year by The Wall Street Transcript.
Mr. Pohlad, president of F&M Mar­
quette National Bank, received the
Silver Award in the soft drink in­
dustry. ME I is the third largest in­
dependent bottler of Pepsi-Cola pro­
ducts in the U.S.

Joins Maplewood Bank
Vern Oberle has joined Maple­
wood State Bank as senior vice pres­
ident in charge of the lending divi­
sion, announced G. Jack Hillstrom,
In 1974 Mr. Oberle began his
banking career as credit card officer
with First National Bank, Elgin, 111.,
and from 1976 to 1981 was vice pres
Banker, June, 1983
Federal Reserve Bank of St. Louis

ident in consumer loans, Naperville
National Bank, 111. Prior to joining
the Maplewood State Bank, Mr.
Oberle was vice president, senior
loan officer with Security State
Bank, Mankato.

Northfield Elects President
The board of directors of First
Bank Northfield has elected Jack M.
Lundeen president and managing of­
ficer. Mr. Lundeen succeeds Rodell
L. Hofland, who has accepted a posi­
tion as senior vice president and se­
cond officer of First Bank Security,
St. Paul.
Mr. Lundeen has most recently
been asociated with First Burnsville
State Bank, Burnsville, where he
served as vice president of commer­
cial loans. Prior to that time he held
the position of assistant vice pres­
ident-retail division and commercial
lending for American Bank and Trust
Company, Moorhead. He began his
banking career in 1971 at First
Western State Bank, Minot, N.D.

Bemidji Appoints Three
Former Officer Dies
The First National Bank of
Bemidji has announced the appoint­
ment of Randy L. Frisk to the posi­
tion of agricultural loan officer. Mr.
Frisk has been with First National

for the past four years serving as in­
stalment loan officer.
Helen Skeim was appointed to the
position of personal banking officer.
Ms. Skeim has been with First Na­
tional for 17 years and most recently
served as manager of the detached
Judy Grimsley was appointed to
the position of manager of the de­
tached facility. With First National
for the past 16 years, she most
recently has served as operations of­
ficer and supervisor of the check pro­
cessing department.
William E. Davis, former vice
president and agricultural loan of­
ficer of the First National Bank of
Bemidji, passed away March 13th.
Mr. Davis had retired December 31,
1982, after 42 years of service to the
First National Bank.

Hendricks Bank Sold to
South Dakota College
The application of Augustana Col­
lege Association, Sioux Falls, S.D.,
to become a bank holding company
by acquiring State Bank of Hen­
dricks, Minn., was approved May 10
by the Federal Reserve Board. In its
approval order, the Board said, “ the
legislative history of the 1966
Amendments to the (Bank Holding
Company) Act indicates that Con-


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Federal Reserve Bank of St. Louis


gress intended to permit nonprofit,
tax-exempt institutions that were
engaged in exclusively religious,
charitable, or educational activities
to own banks subject to the A ct’s
The Board said that Augustana
“ holds certain real estate received as
gifts which would not be permissible
for a bank holding company to hold.”
The order said Augustana has said
it will divest these interests.
The State Bank of Hendricks had
total deposits of $3.4 million at 1982

Two Norwest Bank
Presidents Named
Two Norwest Corporation banks
in northern Minnesota recently elec­
ted new presidents.
Robert P. Hatten, formerly presi­
dent of Norwest Bank Eveleth,



N.A., has been elected president of
Norwest Bank Grand Rapids, N.A.
Succeeding him as president in Eve­
leth is John R. Oltmanns, president
of Norwest Bank Virginia, who will
continue as president of the Virginia
Both Mr. Hatten and Mr. Olt­
manns began their banking careers
at First National Bank of Duluth,
and are graduates of the University
of Minnesota-Duluth. Mr. Hatten
was assistant vice president at the
Duluth bank when he was elected
president of the Eveleth bank in
1976. Mr. Oltmanns was vice presi­
dent and head of its correspondent
banking operations when he was
elected president of the Virginia
bank in 1976.

Applications Approved
The Federal Reserve Bank of Min­
neapolis has announced its approval
of the application by: Cottage Grove
BanCorporation, Inc., St. Paul, to
acquire the Minnesota Bank of Cot­
tage Grove; Eagan BanCorporation,
Inc., St. Paul, to acquire the Min­
nesota National Bank of Eagan;
Elmore Bancshares, Inc., Elmore, to
acquire The First National Bank of
Elmore; Hamburg Financial, Inc.,
Edina, to acquire the State Bank of
Hamburg, and St. Charles Bane-

shares, Inc., to acquire the First Na­
tional Bank of Stewartville.

Chaska Directors
Elected and Honored
Three were recently elected to the
board of directors of the First Na­
tional Bank of Chaska, according to
Daniel G. Klein, chairman.
They are: John C. Lenzen, ownermanager of Nelson, Lenzen Chevrolet-Buick, Inc.; Shirley M. Bruers,
City Clerk of Chaska since 1972, and
Mrs. George C. (Marcella) Klein,
who represents a family interest in
the bank.
In other action by the board, two
long-time directors were elevated to
the honorary position of Director
Emeritus. They are: Laura Born, a
board member since 1963, and Ade­
line Gutzman, a board member since
At the April 21 meeting of the
board, it was also reported that the
bank’s assets reached $39.4 million
at the close of 1982 - a 20.7% increase
over 1981.
Commenting on the year’s re­
sults, Mr. Klein said “ First National
is now in its 76th year of service to
the Chaska community. It is strong­
ly capitalized and well-positioned to
meet the individual and commercial
needs of the community.”

and also to perform research and
development of new electronic funds
transfer products.
This new division is operated
under the direction of Kenneth W.
Sovereign, executive vice president
with the Corporation.

Galena Bank Celebrates 50th
Anniversary, Promotes Two
Promoted in Evanston
First National Bank and Trust
Company of Evanston recently an­
nounced promotion of Bruce I. MePhee to executive vice president.
Mr. McPhee received his M BA from
Loyola University.
Promoted to vice president were:
Bradley S. Vallem. Mr. Vallem is a
CPA and will also serve as con­
Roger C. Weissenberg will also
serve as investment officer. He joined
the bank in 1979 as a portfolio man­
Veronica T. Mensch is in the real
estate loan department.

Banker, June, 1983
Federal Reserve Bank of St. Louis

Phillip K. Duncan, who received
his M BA from Northwestern Uni­
versity, began his career with FirstBank in 1974 as a credit analyst.
Elyse Cohen was also promoted to
assistant controller. She is a grad­
uate of the University of Illinios and
joined the bank in 1977.

New Division Formed
ATM Network Management Corp.,
developer of the SATM Network,
has announced the formation of a
special SATM Systems division, de­
signed to provide high-level soft­
ware support to the Corporation’s
subsidiaries and systems customers,

The First National Bank of
Galena has announced the promo­
tion of Lynn Berning to auditor and
Larry Cook to assistant cashier. Ms.
Berning has been with the bank
since 1976. Mr. Cook joined in 1981.
Andy Rogers, executive vice pres­
ident, also announced that the bank
will be celebrating its 50th anniver­
sary during 1983 and a Customer
Appreciation Day is planned for

Merger Approved
Stockholders of the Bank of
North Aurora, at a special meeting,
approved the merger agreement pro-

Illinois News

viding for acquisition by Old Second
Bancorp, Inc., announced Old Se­
cond President James E. Benson.
The remaining steps in the acquisi­
tion should be completed early in
June, at which time the Bank of
North Aurora will become a whollyowned subsidiary of Old Second
Bancorp, Inc.

Oak Lawn Bank
Declared Insolvent
First National Bank of Oak Lawn,
on April 29, was declared insolvent
by the Comptroller of the Currency,
who appointed the FDIC as receiver.
According to the Comptroller’s
statement, The First National Bank
of Oak Lawn, which was originally
chartered as American Bank of Oak
Lawn, had been experiencing very
serious asset losses and other earn­
ings problems over the past two
years. Losses finally exhausted the
bank’s capital funds, resulting in its

comprising the Cole-Taylor Finan­
cial Group have been named to the
additional positions of chief ex­
ecutive officer in a move to decen­
tralize the management of the firm,
presently being re-organized as a
multi-bank holding company.
Frank Bauder, president of the
Cole-Taylor Financial Group and
chairman of all three banks an­
nounced today
that James J.
C a rm o d y has
n am ed
chief executive
officer o f the
Drovers Bank of
C h ica g o; W il­
liam C. Olsen
has been named
chief executive
officer of Main


(Continued from page 21)
after facing up to the need for management succession,
they will proceed to setting the objectives and then
finding a way to achieve them.
Step 2, Developing Asset Management, has four
principal areas, and again these are analyzed individ­
ually. For example, to the one whose responsibility it is
to maintain Cash and Due you should ask, “ Do we
have enough money to meet daily requirements? Any
excess is lost earnings. Where do you invest and how
do you spread it to reduce the risk? Are reserve re­
quirements covered? Have you analyzed correspon­
dent accounts (usually CEO’s responsibility)?
The same procedure is followed for the other steps—
Government Bond Account—set long-range and shortrange targets. Decide what maturities you want “ lad­
dered” into the program.
An important decision will be arriving at the
Loan/Deposit ratio desired for the bank—say 60% L/D.
If that should be the target, then what percentage of
the remainder should be in each type of invest­
m ent-governm ents, agencies, municipals?
The same process then is true for the analysis of
Lending Division. How much should ideally be in each
type of loan? Basic to this, of course, is complete
knowledge of the actual market, its opportunities and
its possibilities that lie within the marketing area of
the institution.
Similar analyses and decisions are continued for
Steps 3, 4 and 5. A final step is building in a means of
Federal Reserve Bank of St. Louis

Bank, and Edward J. Shaw has been
named chief executive officer of the
Bank of Yorktown in Lombard.
“ One of the reasons we have tak­
en this move is to improve even fur­
ther our responsiveness to the cus­
tomers of each Cole-Taylor bank,’ ’
Mr. Bauder said. “ We believe it is in
the best interests of our customers
to be able to work directly with the
men who can make the decisions.’ ’
James Carmody joined Drovers
Bank five years ago as executive
vice president. Previously with First
National Bank of Chicago, he was
named president in 1981.
William Olsen, formerly with La­
Salle National Bank, has been with
Main Bank since 1979 and was named
president in 1981.
Edward Shaw has been with the
Bank of Yorktown since its organ­
ization in 1968 and was instrumen­
tal in the banks’ affiliation with
Cole-Taylor in 1982.

Skokie Director Elected

Cole-Taylor Bank Presidents
Also Named to CEO Position
The presidents of the three banks



Skokie Trust and Savings Bank,
Skokie, recently announced the elec­
tion of Risley B. McFeeley, Jr.,
C.C.L., senior vice president, to the
bank’s board of directors.

measuring how you’re doing—a check-up or monitor­
ing process. Any program can look good on paper or
sound good in the conference room but it is worth
nothing unless it is actuated, Mr. Fritz stresses. When
this is done, you’re entitled to be able to measure its
results, what it is doing for your bank, how it can be
How to Form Planning Team
The decision about who to include in the planning
process is one that needs to be made within each bank.
The more support the plan has at each level, the better
it will be carried out. Conversely, a plan needs good
leadership and can’t just be a consensus process of the
lowest denomination of enthusiasm or ideas. This is
one area where a knowledgeable consultant or an up­
stream correpondent can undoubtedly be of help. They
can assist the CEO in determining the framework in
which the entire planning process will take place.
When should it start? Most major banks are into
their 1984 planning at this time and have targeted
September 1 as the latest date to start genuine bud­
geting for the coming year. Their organizations are
larger and require more time. Mr. Fritz states that now
is an ideal time for a Community Bank to consider and
initiate strategic planning for the coming year, for it
will allow a full six months to develop the plan, present
it to the entire staff and have it ready to implement by
The new competitors have their plans in place now!
Now is a good time for banks to formalize plans the
CEO have in their heads so banking can take full ad­
vantage of the lead it has in each community.
Northwestern Banker, June, 1983


THE NEWLY elected SDBA officers for 1983-84 are: (left to right) Immediate Past
President— Dean Mehlhaff; President—Charles Ekstrum; President-Elect—John Haerter;
Vice President— Burdette Solum, and Executive Vice President— Milton Schwartz.

Chuck Ekstrum to Head SDBA
Associate Publisher
EAR LY 700 bankers and their
spouses attended the 91st an­
nual convention of the South Da­
kota Bankers Association held May
15-17 in Sioux Falls. Convention ac­
tivities were highlighted with the
election of Charles W. Ekstrum to
the presidency of the association.
Mr. Ekstrum is the president of
First National Bank in Philip and
succeeds Dean Mehlhaff. Advanced
to president-elect was John Haerter,
president of Farmers State Bank in
Hosmer and Burdette Solum was
elected vice president. He is presi­
dent of Norwest Bank Watertown.
Other election activity included
the advancement of Charles Undlin,
president of Norwest Bank Black
Hills in Rapid City to State A B A
Council vice president and Glenn
Waltner, chairman of First National


Bank in Freeman to a two-year coun­
cil term succeeding Chuck Seaman.
During his presentation, South
Dakota Governor William Janklow
was questioned on his recent criti­
cism of high interest rates on loans
made by South Dakota bankers. He
prefaced his response by stating
that historically the prime rates used
in the nation’s money centers were
not reflected in the loans made in
South Dakota. He said that he is not
critical of the prime rate, however,
now that loan rates within the state
are being based on the prime they
should lower to match the recent
declines in the prime. He went on to
challenge that the cost of money to
the bankers is not proportionate to
the cost of money to the consumer
and revealed that a recent poll con­
ducted by his office shows loan rates
in South Dakota to be a full per centage point higher than in any of the

neighboring states. He also remind­
ed the bankers that as governor he
has access to individual tax returns
within the state and he feels that
“ ...banking has been very good to
the bankers.”
Keynote speaker Admiral Elmo
Zumwalt, former head of U.S. Naval
Operations, addressed the conven­
tion on “ Military and Regional Ten­
sions.” Using the nuclear capabil­
ities of the United States and the
U.S.S.R. in the early 1960s as a re­
ference point, the Admiral outlined
the political factors which have led to
a complete reversal of the strategic
nuclear and conventional superiori­
ty of the two world powers since the
Cuban missile crisis. Possessing a
significant weapons advantage and
armed with the knowledge that all
odds are against a nuclear confron­
tation, he charges that the Soviets
continue to pursue a world-wide plan
of aggression. He adds that they feel
that their known military superiori­
ty will force the west to accept these
Looking to South and Central
America, he said that the Soviets
continue to use Cuba and Nicaragua
as military outlets to distribute
weapons and supplies, and forecasts
Chile and Costa Rica as being the
next countries to “ ...change their
colors from blue to pink.” He warned
that the long-range Soviet strategy
in the Western Hemisphere points
to the arming of insurgents in Mex­
ico and, finally, the takeover of the
Panama Canal.
Admiral Zumwalt feels that the
“ anti-military” attitude of the U.S.
following the Viet Nam War has al­
lowed a rampant Soviet arms build­
up since 1973. He reported that
President Reagan must constantly
counter a media which is 85% antidefense when he tries to gain sup-

LEFT—State ABA Council Vice President Chuck Seaman, pres., First St. Bk., Warner with Doris and Lew Jenkins, immediate past presi­
dent., ABA, and vice chmn., Manufacturers Hanover Trust Co., New York. RIGHT— Kathy and David Hyduke, gp. v.p., with Jana Kirkeby,
corr. bkg. off., American Natl. Bk. & Tr., St. Paul.
Banker, June, 1983
Federal Reserve Bank of St. Louis

South Dakota News



port for military spending to coun­
ter this clear path of aggression on
the part of the U.S.S.R. In closing,
he urged the bankers to become in­
volved at the local level by asking
their federal delegation to consider
all presentations made to them by
the President and the Defense De­
partment and not to make pre-judgments based on the influence of the
Representing the American Bank­
ers Association, Immediate Past
President Llewellyn Jenkins, vice

chairman of Manufacturers Han­
over Trust Company of New York,
directed most of his comments
towards recent A B A legislative ac­
tivity. He said that the Congress of
the United States pays close atten­
tion to the agendas and direction of
the A B A Leadership Conferences.
This was very evident during the re­
cent withholding at source lobbying
effort of the ABA . He hopes that
this legislative success will en­
courage the bankers to offer direc­
tion to the Congress on the issue of


legislative banking. Speaking of his
own bank, he said “ ...just because
we don’t have facilities in South
Dakota doesn’t mean that we don’t
love you or think about you. In fact
we think about you quite often.’ ’
Social activities included tennis,
bowling and golf tournaments, a Ha­
waiian Luau, entertainment by the
Four Lads and a dance featuring
Myron Lee and the Caddies. The
convention was brought to a close
with the President’s Reception and



LEFT— David Johnson, exec, v.p., Farmers St. Bk., Estelline, with Dick Holmes, a.v.p., and Bill Klein, v.p., F&M Marquette Natl. Bk., Min­
neapolis. RIGHT—Scott Ulbrich, a.v.p., Norwest Bk. Minneapolis; Alex Squillace, Toni Jensen, a.v.p., and Dick Storlie, v.p., Norwest Bk.



LEFT—Herschel Page, pres., Farmers & Merchants St. Bk., Plankinton; Mike Moreland, sr. inv. off., Security Natl. Bk., Sioux City, and John
Thompson, pres., Bank of Centerville visit with Security National Bank of Sioux City President Gene Hagen. RIGHT— Boyd Hopkins, pres.,
Livestock St. Bk., Mitchell; Steve Hatz, v.p., Security Natl., Sioux City, with Lois and Sherman Visscher, v.p., First Fidelity Bk., Platte.

LEFT— Houston Haugo, pres., Valley Natl. Bk., Sioux Falls, Jim Kämmerer, a.v.p , F&M Marquette Natl. Bk., Minneapolis, and Gary Steven­
son, v.p., First Natl. Bk., Sioux City. RIGHT— Lee Hamilton, v.p., and Dick Schoeneke, pres., First Natl. Bk., Minneapolis, with Nels Turnquist, chmn., First Bank of South Dakota, Sioux Falls, and Bob Anderson, exec, v.p., First Natl. Bk., Minneapolis.
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983

Mason C ity
Federal Reserve Bank of St. Louis



When Dick Holmes
isn't on the road calling on bankers,
he’s on the phone talking to them.
Whether he’s on the road or in the office, Dick
Holmes keeps in close contact with his respondent
bankers. Dick knows that responding quickly to a
question or problem is his most important responsibility;
one he takes very seriously. That’s w hy he travels so often
. . . uses the phone so m uch. . . and gets back to his
bankers so fast.



Correspondent services you’d expect from a
bank our size.
When you work with Dick Holmes, you not only
benefit from his thirteen years of experience, you also
gain access to a wide range of Correspondent Banking
services. Check clearings, collections, wire transfers, Fed
Funds, investment services, bond portfolio analysis, ag
and commercial overlines, bank stock loans, leasing, lock
box service, and CashLine for efficient, up-to-the-minute
cash management are examples of the many services
Dick can offer you.

See how responsive we are. Call us today.
If you think it’s time your Correspondent Banker
paid a little more attention to you, call Dick Holmes or
any of our experienced bankers at F&M Marquette’s
Correspondent Banking Department. At F&M Marquette,
we stay on top of your needs by staying in touch with you.

A F&M Marquette National Bank

Member FDIC

6th & M arquette
M inn e a p o lis

Dick Holmes


Bill Klein

Federal Reserve Bank of St. Louis

Bill Addington




Sandy Sickles


Joan McCarthy


Mark Schabert


Phil Gallivan,
Vice President

Northwestern Banker, June, 1983


South Dakota News

LEFT— Bill Hamilton, a.v.p., First Natl. Bk., Minneapolis and wife Maxine with Dell and Darold Petersen, pres.-elect No. Dak. Bkrs. Ass’n.
and pres., Lakeside St. Bk., New Town, N.D. RIGHT—Stan Peterson, v.p., Norwest Bk. Midland, Minneapolis with Lyle Paschke, v.p. & mgr.,
Norwest Bk. Aberdeen, Redfield, and his wife Bev.

LEFT— Dwain Blackwell, exec, v.p., Tri Cnty. St. Bk., Chamberlain; Don Lindeman, a.v.p., First Natl. Bk., St. Paul, and wife Ev, and Fred
Menzel, pres., Farmers St. Bk., Dupree. RIGHT—Tom Pohlman, v.p., Norwest Bk., Sioux City; Jill and Rob Frei, v.p., Commercial St. Bk.,
Wagner, and Laura and Don Waniata, regional v.p., Norwest Region VI, Sioux Falls.

LEFT—Minn. Bkrs. Assn. Executive Vice President Truman Jeffers and his wife Leila with Judy and Milt Schwartz, exec, v.p., SDBA, and
Deborah Gates, admin, v.p., SDBA. RIGHT— Dick Storlie, v.p., Norwest Bk., Minneapolis; Chuck Ekstrum, pres., First Natl. Bk., Philip; T.M.
Reardon, dir., Western Bk., Sioux Falls, and Tom Hayden, v.p., Allison-Williams Co., Minneapolis.

LEFT—Steve Boes, terr. mgr., BICS, Cedar Rapids; Mike Broderick, pres., First American Bk., Canton; Bob Meisinger, 2nd v.p., First Natl.,
Omaha, and Darrel Elkins, a.v.p., BICS, Sioux City. RIGHT—Jerry Feldhaus, v.p., First Natl. Bk., Sioux Falls; Stan Fredericks, v.p., Toy Natl.
Bk., Sioux City; Chuck Rogness, pres., Sunbank of South Dakota, Sioux Falls, and Dwayne Halse, pres., Farmers St. Bk., Flandreau.
Banker, June, 1983
Federal Reserve Bank of St. Louis

South Dakota News


LEFT— Burdette Solum, pres., Norwest Bk. Watertown and wife Phyllis with Mike Bodeen, a.v.p., Norwest Bk. Midland, Minneapolis and
Jerry Miller, sr. v.p., Norwest Bk. Watertown. RIGHT— Bud Weisser, Daktronics, Inc., Brookings, visits with Joan and Loren Miller, pres.,
First Bk. South Dakota, Gettysburg.

LEFT— Bob Reel, v.p., Fed. Land Bk., Omaha, Maurice Russell, v.p., Fed. Intermediate Credit Bk., Omaha, and George Gerza, acct. exec.,
HBE Bank Facilities, St. Louis. RIGHT— Boyd Hopkins, pres., Livestock St. Bk., Mitchell; Jeff Moran, acct. exec., Chiles Heider & Co.,
Omaha; Paul Nordstrom, pres., Security St. Bk., Geddes, and Jim Schnaidt, pres., Menno St. Bk.

Staff Advancements Told
The board of directors of First
Bank of South Dakota, Sioux Falls,
has elected Patricia Morse as opera­
t io n s o ff ic e r ,
Sioux Falls main
office; advanced
Stephanie Mundhenke to assis­
tant vice presi­
dent in the trust
d ep a rtm en t,
Sioux Falls; ad­
vanced Ka A l­
berts and Den­
nis R is k e to
assistant vice presidents in Rapid
City, and promoted Richard Lam­
bert to vice president at Vermillion.
Ms. Morse, who began her bank­
ing career in 1974 at First Bank
Western Montana, Missoula, trans­
ferred to First Bank of South

Federal Reserve Bank of St. Louis




as chairman of the board.
Raymond E. Knapp, vice presi­
dent, has been named managing of­
ficer of the bank. He joined in 1975
as cashier and was named vice presi­
dent in 1982. He is also a member of
the board.
Robert R. Christensen has joined
the staff as agricultural loan officer.
He received a BS degree in agricul­
tural business and agricultural eco­
nomics from South Dakota State

Dakota in 1976. Ms. Mundhenke
joined the trust department in 1979
as trust administrator. Mr. Alberts
Approval Announced,
joined the Rapid City bank in 1978,
transferred to Sturgis in 1979, was Six Banks Consolidate
elected an ag loan officer later that
The Comptroller of the Currency
year and returned to Rapid City in has approved the consolidation of
1982. Mr. Riske joined in Rapid City First Bank of South Dakota, First
in 1978 as an instalment loan officer Bank Aberdeen, First Bank Clark,
and in 1981 was named assistant First Bank Gettysburg, First Bank
manager-timepay. Mr. Lambert Lemmon and First Bank Miller into
joined First Bank Willmar in 1973 a single statewide banking unit and transferred to the Vermillion First Bank of South Dakota (Na­
bank in 1979 as assistant vice presi­ tional Association) according to an
dent and assistant manager.
announcement by Nels E. Turnquist, chairman, effective May 1.
First Bank of South Dakota has
Stockholm President Retires 24 offices statewide with assets of
Stanley A. Berg has retired as $1 billion.
Directors of the bank are: Oscar
president of Stockholm State Bank
of Stockholm. Mr. Berg began his M. Austad, president, The Austad
employment with the bank in 1941 Company; David S. Birkeland, presi­
and succeeded his father, C.A. Berg, dent and chief executive officer,
as president in 1956. He will remain First Bank of South Dakota; Sylvia
Northwestern Banker, June, 1983

R. Henkin, president KSOO Radio
Inc.; Charles A. Kearns, president,
Kearns Machinery Company; Maur­
ice L. Murphey, president, Jordan
Millwork Company; Max W. Pasley,
president, Max Pasly, Inc.; Nels E.
Turnquist, chairman, First Bank of
South Dakota; all of Sioux Falls;
Joseph H. Barnett, attorney, Siegel,
Barnett, & Schultz; Warren G.
Grebner, general manager, South
Dakota Wheat Growers; Jack M.
Thompson, president, northern divi­
sion, First Bank of South Dakota,
all of Aberdeen; Sherwood L. Cor­
ner, president, Corner Construction
Company; Reynold Klay, president,
western division, First Bank of
South Dakota; both of Rapid City;
Sherwood O. Berg, president, South
Dakota State University, Brook­
ings, and Daniel Cronin, Cronin
Farms, Inc., Gettysburg.

Sioux Falls Banker Receives
Distinguished Service Award
Nels E. Turnquist, chairman,
First Bank of South Dakota, Sioux
Falls, has been awarded a distin­
guished Service Award from the
University of South Dakota School
of Business.
T he
aw ard
w as g r a n te d ,
“ For having con­
tributed to the
development of
South D akota
and whose life
has been marked
by interests and
attainments far
beyond the de­
mands of his community and state.”
Mr. Turnquist is a Montana na­
tive and graduate of the University

of Montana, where he is presently
vice president of the University of
Montana Foundation.
He was named president of First
Bank of South Dakota (then the Na­
tional Bank of South Dakota) in
1972 and was elected chairman in
1982. Turnquist was elected as a di­
rector of the Federal Reserve Bank
in Minneapolis in 1977 and served
for three years.

Watertown V.P. Dies
Robert A. Manatt, 29, vice presi­
dent and a trust officer of Farmer’s
and Merchants Bank in Watertown,
died last month of carbon monoxide
poisoning at his home. Mr. Manatt
was born in Atlantic, Iowa, and lived
in Des Moines much of his life. He
was a member of the Chamber of
Commerce and Parks Board in Wa­

Fargo Bank
Elects New President

Two Advance in Grand Forks
The board of directors of First
Bank Grand Forks has elected Lyle
C. Sorum president and managing
officer and Francis M. Schreder
chairman, effective June 1.
Mr. Sorum joined the First Bank
System in 1979 and currently is vice
president and manager of training.
He previously was associated with
American State Bank, Williston,
where he served as vice president.
Mr. Schreder has been associated
with First Bank System since 1957.
He joined First Bank Grand Forks
as president and managing officer in
1980. He was elected managing di­
rector of First Bank System’s north-

ern North Dakota affiliates in 1982,
a position he will continue in addi­
tion to serving as chairman of the

Promoted in Crosby
Farmers State Bank, Crosby, has
announced the promotions of Jon
Hanisch to vice president in charge
of agriculture and Herbert Kleinsasser to cashier.
Mr. Hanisch has been with the
bank for 12 years, most recently as
assistant vice president. Mr. Kleinsasser joined in 1982 as assistant
cashier. He previously was an ex­
aminer for the State Banking Com­
mission for eight years.

Joins ICBND Staff



Banker, June, 1983
Federal Reserve Bank of St. Louis

Arlene Leingang recently ac­
cepted a position as executive
secretary of the Independent Com­
munity Banks of North Dakota,
headquartered in Bismarck.
Ms. Leingang joins ICBND after
17 years with the North Dakota
State Government, serving 13 years
with the Governor’s Office.

Tim V. Stern, president of Norwest Bank St. Cloud, Minn., has
been elected president, chief ex­
ecutive officer and a director of
N orw est Bank
Fargo, N.A. He
succeeds George
W. S ch w a rtz,
who resigned in
Mr. Stern has
been with the
N o rw e st C o r­
poration since he
jo in e d N o r th ­
w e s te rn
N a­
tional Bank in Sioux Falls, S.D., in
1960. He was vice president and
manager of the bank’s Colonial
branch in Sioux Falls, when he was
named president of Northwestern
National Bank in Norfolk, Neb., in
1974. He was named president in St.
Cloud in 1978.
The North Dakota Bankers
Association annual convention
was in progress as this issue
was being printed. A complete
report with pictures will ap­
pear in the July issue.
Darold Petersen, president
of Lakeside State Bank, New
Town, was scheduled to be elec­
ted president of the NDBA,
succeeding John M. McGinley,
president of American State
Bank & Trust Company, Wil­



(Continued from page 23)
lars through the bank as fast as possible, thereby re­
ducing float and turning the money into investable
Virtually every area of the bank that handles debit
and credit entries is a candidate for creating a loss of
investable funds.
2. Operational Procedures.
Evaluate all operational procedures, practices, and
work flow to insure that all functions are performed ef­
ficiently, consistent with sound business practices and
in concurrence with prevailing regulations.
His efforts should be directed towards the work flow
between the various departments of the bank. Of spe­
cial consideration is timing. The consultant has to be
intimately aware of the timing requirements of clear­
ing deadlines. He should schedule all work flow to en­
hance the collectibility of checks and other types of
cash items.
3. Fees and Charges
Evaluate all fees and charges to assure the optimum
structure, taking into consideration account profitibility, competitive factors, and management philosophy.
Most banks follow the same basic format when re­
viewing fees and charges. A committee is formed to
make the evaluation. The committee spends consider­
able time analyzing production statistics, personnel
costs, overhead, equipment, etc., to determine the ac­
tual cost of providing the service. After the completion
of this process, a reasonable profit factor is applied.
Once the evaluation is done, a comparison is made with
competition. The new fee structure is then determined
by ignoring the evaluation and pricing the bank’s ser­
vices at a rate slightly below or slightly above the com­
petitive financial institutions’ rates.
Basically, the types of serivces provided by the bank
to their respective customers are quite consistent.
There is very little difference in the types of service of­
fered. The primary difference is in the quality of the
service. The bank that provides quality service can in­
crease its fees to offset the costs of providing that ser­
vice. Customers are more than willing to pay for good
service. They are reluctant to pay a high price for just
adequate service.
4. Staffing Levels
Monitor production statistics and apply reasonable
expectancies to those statistics to ensure that staffing
levels are maintained at a reasonable level.
Supervisory personnel should be instructed in the
“ how-to” of measuirng departmental productivity.
Many supervisors are of the belief that the more em­
ployees they are responsible for, the more critical and
important their position becomes. A supervisor should
not be rated on the number of employees he is responsi­
ble for, but rather on how few employees he needs to
complete the assigned tasks correctly, and on time.
The utilization of proper and valid statistical data in
determinng adequate staffing levels is of paramount
The evaluation of proper staffing levels should be
the final function of the consultant. This is a very sen­
sitive area and has to be approached with finesse.
If the consultant is properly motivated and trained,
and has the necessary experience, he will concentrate
Federal Reserve Bank of St. Louis

his efforts in developing methods to control practices
and procedures. If practices and procedures are con­
trolled properly, staffing problems will normally be
self evident and will take care of themselves.
The utilization of a consulting organization to
evaluate operational practices and procedures, identify
reductions in balances maintained in non-earning asset
accounts, rescheduling of work flow to eliminate un­
necessary holdover and float, and evaluating personnel
staffing levels, can be a very profitable venture. A
trained, experienced consultant provides an objective
outlook along with the expertise to gather and tabulate
data, evaluate current practices, and then make recom­
mendations for change.
It is important that management implement the re­
commendations submitted by the consultant in an or­
ganized, timely manner. Procedures do not change by
themselves. Management should assign responsibil­
ities and develop a follow-up procedure to control the
implementation process.
The consultant’s goal should be to work with your
staff, in a joint effort, to develop a better understand­
ing of the importance of controlling non-earning assets
and operational procedures. A consulting program in
your bank can be successful provided you employ an
experienced consultant who takes into consideration
management philosophy, customer needs, and employ­
ee morale.
(Continued from page 24)
and-miss decisions and minimal profitability. It must
be emphasized, however, that no matter how much
money and time are spent on developing a good plan, it
will be of little value without a commitment to make
the plan work. All profit and cost center members
must work together — e.g., business banking, retail
banking, real estate, trust and investment divisions —
toward common, bank-wide objectives.
Additionally, before a bank takes the strategic plan­
ning plunge, it must make a strong commitment to
face up to some of the information that may come to
light from taking a good hard look in the mirror. There
can be no “ sacred cows.” Greatest success will come to
those who are completely honest and objective about
their operations.
On the basis of our experience and that of our cli­
ents, one thing is certain. If banks continue to apply
yesterday’s answers to today’s problems, they will be
making a serious mistake. Again the quote from that
Midwest bank executive: “ W e’re going to need man­
agement in a way we’ve never needed it before.”
Start with a modest, formal effort, building a foun­
dation that is further developed in each successive
planning cycle. The key will be to train your managers
in planning techniques and their practical application.
Planning is a learned skill which is developed over
The true measure of using planning successfully will
be increased effectiveness of your managers’ decisions.
Translated, that means results over time. A planning
process is and will be the single most important man­
agement tool for banking through the end of this cen­
Northwestern Banker, June, 1983



1st Vice Pres.

75th Annual

Wyoming Bankers
Association Convention
June 1 5-1 7
Jackson Lake Lodge
Moran, Wyoming
NOTHER exciting program has been lined up for
the 75th Annual Convention of the Wyoming
Bankers Association, June 15-17 at the Jackson Lake
Lodge, Moran. M. Clare Mundell, executive vice presi­
dent of the W BA, has announced details in advance of
the upcoming convention,
W BA President Henry A. Hitch, president, First
National Bank of Casper has been assisted this past
year by First Vice President Don Babbitt, president,
Stockgrowers State Bank, Worland; Second Vice Pres­
ident Robert T. Noel, president, First Wyoming Bank,
N.A., Cheyenne, and Executive Director M. Clare
Activities will begin Wednesday morning, June 15,
with the Annual Men’s Golf Tournament, Fishing Der­
by and Tennis Tournament, followed by social hour
and indoor picnic that evening. Wednesday and Thurs­
day evenings will feature music to dance by “ Many
Sounds of Nine.” The Annual Women’s Golf Tourna­
ment will be held Thursday morning as the first gen­
eral session is getting underway. Registration will be­
gin Tuesday, June 14, from 10:00 a.m. to 5:00 p.m.



Banker, June, 1983
Federal Reserve Bank of St. Louis


2nd Vice Pres.

Exec. Vice Pres.

Coaches for the different sport events include:
Golf: John Edmiston, Evco, Inc., Denver; Steve
Sheridan, Denver National Bank, Denver, and Gene
McMillen, senior vice president, First Wyoming Bank,
N.A. Rawlins.
Fishing: Sherrod France, Rawlins National Bank,
Rawlins, and Richard Welle, Central States, Omaha.
Tennis: Dick Nelson, First National Bank, Powell;
E.J. “ W oody’ ’ Haines, First Interstate Bank, Lar­
amie, and Bob Sutter, Hilltop National Bank, Casper.
Athletic Director: John Easterbrook, American Na­
tional Bank, Laramie.
Trainers: Bill Tumelty and Rick McElroy, Central
Bank, Denver.
Wednesday, June 15
7:30 and 8:00 shotgun starts for Men’s Annual Golf
Tournament, Jackson Hole Golf and Tennis
7:30 Joint Annual Fishing Derby, Colter Bay Mar­
ina, Jackson Lodge. Starting times also at 9:45,
12:00 noon and 2:15 p.m.
9:00 Joint Annual Tennis Tournament, Jackson Hole
Lodge and Tennis Club. Lunch may be purchased
at the clubhouse by golf and tennis participants.
6:30 Social hour, Stockade Terrace.
7:30 Indoor picnic, Explorer’s Room.
9:00 Dancing to the music of “ Many Sounds of
Nine,’ ’ dress casual.
Thursday, June 16
9:00 Women’s Annual Golf Tournament, Jackson
Hole Golf and Tennis Club. Shotgun start.
9:30 First general session.




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the Credit Insurance Division o f

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PHONE: (402) 397-1111
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983



Wyoming News

•Presiding: W BA President Henry A. Hitch,
president, First Interstate Bank of Casper, N.A.
«Address: Roger Guffey, president, Federal
Reserve Bank of Kansas City.
«Address: Dwight Bonham, State Examiner,
Cheyenne, “ The Hypo-Bank.”
«Address: Dr. Barry Asmus, economist, Boise
State University, Boise, Idaho.
Reporting of the nominating committee and
election of officers.

12:00 Joint luncheon preceded by refreshments, Ante­
lope Room, ground floor.
Afternoon free.
6:00 Social hour, Stockade Terrace.
7:15 Seventy-fifth Annual Banquet, Explorer’ s
9:00 Dancing — “ Many Sounds of Nine.”

Friday, June 17
8:00 PEEPS (Past Presidents’ Breakfast), Prospec­
tor’s Room.
LES CHICKS (Past Presidents’ Wives Break­
fast), Vigilante Room.
9:30 Second general session, Explorer’s Room.
Resolutions committee report.
9:40 «Address: Gerald M. Lowrie, executive director,
Government Relations, ABA, Washington, D.C.
10:45 «Address: Congressman Richard B. Cheney,
Washington, D.C.
11:15 Introduction and installation of new association
officers and executive council.
12:00 Adjournment.
12:30 Luncheon, Prospector’s Room, for officers of
W BA and members of executive council, hosted
by newly elected president of W BA, Don Bab­

this spring. Early last month it of­
fered between 200,000 and 230,000
shares of stock for $10 a share, with
priority given to account holders of
James M. Dombek, vice president & the S&L. Officials of the institution
region manager and John S. Madi­ stated they plan to become more in­
son, vice president, correspondent volved in commercial and consumer

You Will See Them at the 75th Annual
Wyoming Bankers Association Convention
HE follow in g m etropolitan
bankers will be attending the
1983 Wyoming Bankers Convention
June 15-17 at Jackson Lake:


Security Bank: Dick Kjoss, presi­
Elected to ABC Board
dent, and Gene Coombs, vice presi­
Robert W. Miracle, president and
chief executive officer of the A f­
IntraWest Bank of Denver: Rob­ filiated Bank Corporation, Casper,
ert E. Lee, chairman and CEO; announced that Dr. Donald J. Law­
Charles H. Green, executive vice ler has been appointed to the Board
president, corporate banking; Rob­ of ABC. Mr. Lawler is a partner in
ert S. McRae, senior vice president the Cheyenne Eye Clinic.
and Harry J. Devereaux, vice presi­
dent, correspondent banking; Hal S. Casper S&L Converts to
Fireman, correspondent banking of­
Mutual Savings Bank
Guaranty Federal Savings and
Association of Casper recently
First National Bank: R. Mark
its intention to convert
Hahn, correspondent officer.
to a federal mutual savings bank
New York
Chemical Bank: M.P. Bristoll, as­
sistant vice president.
HE substantial savings avail­
able through Discount Broker­
First National Bank: Ralph Peter­ age is now being offered by First
son, vice president.
Wyoming Banks throughout the
Norwest Bank Omaha: James R. state. Discount Brokerage can cut
Campbell, vice chairman and CEO; commission charges for security
John R. Cochran, president; Lee J. transactions by as much as 65%.
Bachand, senior vice president;
“ The Discount Brokerage Service
Howard Nielsen, vice president.
is designed for investors who know
Omaha National Bank: John Cle­ the market and make their own in­
ments, Daniel Boehle, and Jack dependent investment decisions.
Wheeler, vice presidents.
The banks do not offer investment
advise or provide investment re­
San Francisco
search material,” said David R.
Bank of America: Robert J. O’Neill.
Johnson, chairman, chief executive
officer and president of First W yom­
Seattle—First National Bank: ing Bancorporation.

Evanston Promotions Told
Alan W. Graban, president of the
First Wyoming Bank - Evanston, re­
cently announced the promotion of
Jane H. Jones to assistant vice
president and cashier and Michael
W. Frisbey to assistant vice presi­
Ms. Jones, who had been serving
as assistant vice president in opera­
tions, has been with the local bank
for one-and-a-half years.
Mr. Frisbey has been with the
bank seven years and served as tel­
ler, auditor, consumer loan officer,
operations officer and cash manage­

First Wyoming Banks O ffer New Service


Banker, June, 1983
Federal Reserve Bank of St. Louis

First Wyoming Bank is offering
this service through its trading and
clearing broker, Execution Service,
Inc. With Discount Brokerage, First
Wyoming is also offering the Finan­
cial Services Investment Account.
This account allows securities to be
recorded in book entry form rather
than actually delivered as certifi­
cates to the client. The account pro­
vides prompt settlement on trade ac­
tivity, a confirmation invoice after
each trade and a toll free telephone
number for customers to use. The fi­
nancial services account will enable
the customer to achieve even greater
savings in commission charges.


Depend on IntraWest Computer
Services for the financial systems
you need to compete in the new
environment of fast-paced change
and deregulation.
Your bank’s needs are special,
which is why we offer some very
specialized services in our Financial
Data Processing package.
And as we change to bring you
new technological advances, our
commitment to bring you the best
personal attention will remain strong
and on-lin e.
IntraWest Computer Services,
providing financial systems for the
way you do business today—and
tomorrow. Call Joe Phernetton
today for more information.

IntraWest Bank of Denver
Computer Services
633 Seventeenth Street
Denver, Colorado 80270
303 293-5491
Member FDIC
Member IntraWest Financial Corporation
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983

served in a variety of capacities in
customer service and banking opera­


C olorado

Appointed in Montrose

A.R. Koeneke, chmn. & pres., Rifle
D. A. Childears, exec. m g r., Denver

Three Elected at IntraWest
IntraWest Bank of Denver has
elected three new senior vice pres­
idents, according to Robert E. Lee,
chairman and chief executive officer.
Elected were:
Susan M. Ash­
by, individual
fin a n cia l s e r ­
vices; Michael S.
Dafferner, mar­
k e tin g ,
Robert S. Web­
ber, human re­
M s. A s h b y
joined the bank



in 1981 after five years with Bank
One in Columbus, Ohio. Mr. Daffer­
ner joined IntraWest from Barnhardt & Company Advertising, where
he was executive vice president. He
also previously served as director of
marketing for Affiliated Bankshares
of Colorado for five years. Mr. W eb­
ber joined the bank in 1979 after 14
years with The First National Bank
of Chicago,

Central Bank Promotes
Eight, Elects Two
The board of directors of Central
Bank of Denver has promoted eight
staff members and elected two others
to key positions.
Promoted were Donald J. Horst
to senior vice president and group
head and Harlan L. Pepper to vice
president and division head. Newly
elected to vice president and divi­
sion head was William F. Shea.

Banker, June, 1983
Federal Reserve Bank of St. Louis

Scott Brennan, A.W. Kuts-Cheraux
and Phil Lyon were promoted to vice
presidents. John P. Rabaglia was
elected to a vice president position.
Promoted to assistant vice presi­
dent were Norma J. Andersen, Greg­
ory P. Cooke and Cynthia S. Suther­
Senior Vice President and Head of
the newly formed Trust Group, Don
Horst, joined Central Bank in 1974
as vice president and trust officer,
and in the same year was promoted
to division head. Prior to joining
Central he worked for Colorado Na­
tional Bank in Denver.

Appointed in Denver
Anita E. Butler has been ap­
pointed vice president and Richard
J. Peterson has been named assis­
tant vice president at Denver Na­
tional Bank.
M s. B u tle r
previously has
been with City
E dition N ew s­
paper and Uni­
ted Bank of Sky­
line. She serves
in the commer­
cial loan depart­
Mr. Peterson
most recently was cashier with
United Bank of Boulder. He serves
in corporate cash management.

Boulder V.P. Named
Mary F. Clough has been appointed
vice president and executive officer
for operations at
A rapahoe N a­
tional Bank in
Ms. Clough,
previously with
First National
Bank in Boulder,
Greeley National
Bank and IowaDes Moines Na­
tional Bank, has

Dorothy E. DeJulio has been ap­
pointed person­
nel and benefits
officer at the
United Bank of
Montrose, N.A.,
Mrs. DeJulio
joined the bank
in 1973 and has
served in the ac­
counting, teller
and p e r s o n a l
banking areas. Since 1981 she has
held the position of personnel assis­

Three Promotions Told
First Interstate Bank of Denver
has announced the promotions of
Shirley J. Good to vice president
and manager of the executive and
professional banking department,
and Michael R. Littlejohn and
Joseph A. Helm to operations of­
Ms. Good, who had been assistant
vice president and manager of
health care professionals’ services,
joined the bank in 1982 from First
Interstate Bank of California, San
Diego. Mr. Littlejohn and Mr. Helm
were computer operations super­
visors prior to their promotions.

Elected in Denver
C olorado N ational Bank of
Denver recently elected Gregory J.
Ellena vice president.
Mr. Ellena joined the bank in
1977 as a trainee, was promoted to
real estate loan officer in 1980 and
was named assistant vice president
later that year.
The Colorado Bankers Asso­
ciation annual convention was
underway as this issue was be­
ing mailed. A complete report
with pictures will appear in the
July issue.
Norman M. Dean, chairman
and president, United Bank of
Greeley, was scheduled to be
elected president of the CBA,
succeeding Allen R. Koeneke,
chairman and president, First
National Bank in Rifle.

Colorado News

IntraWest Financial President
Also Elected Chairman

Omaha Based Realbanc
Opens Colorado Springs Office

Robert G. Boucher, president of
IntraWest Financial Corporation,
Denver, was recently elected chair­
man and chief executive officer by
directors of the Denver-based hold­
ing company. Also promoted was
Clayton G. Mammmel to executive
vice president of administration for
the corporation.

Realbanc, Inc., a mortgage bank­
ing firm headquartered in Omaha,
Neb., has opened a residential mort­
gage production office in Colorado
Springs at 5875 Lehman Drive.
Michael Duty
has been named
manager of the
branch, which
in it ia lly
w ill
have a staff of
five. Mr. Duty
formerly was a
branch manager
fo r C o lu m b ia
S a v in g s

WESTNET Chairman Named


Mr. Boucher succeeds Theodore
D. Brown, who retired following the
corporation’s annual meeting. Mr.
Brown had been with IntraWest
since 1970.
Mr. Boucher, previously chair­
man, president and chief executive
officer of IntraWest Mortgage Com­
pany, became the corporation’s pres­
ident March 3, a position he will re­
Mr. Mammel has been with Intra­
West since 1974, most recently as
senior vice president of administra­

N. Berne Hart, president and
chairman of United Banks of Col­
orado, has been named chairman of
the W ESTNET Group. Mr. Hart,
53, succeeds former network chair­
man Roger A. Lyon, chairman and
chief executive officer of Valley Na­
tional Corporation, Phoenix, who
died April 16. Mr. Lyon was instru­
mental in establishing the initial
groundwork for WESTNET and was
named its first chairman when it
was formed in June, 1982.

Seminar Date Set For June 16
The Correspondent Banking Divi­
sion of United Bank of Denver is offer­
ing a one-day educational seminar en­
titled “ Application of the Uniform
Commercial Code,” to be held June 16
at the Marriott Hotel, Denver.
Registration will begin at 8:00 a.m.
and the seminar will run from 8:30 a.m.
to 5:00 p.m., with registration fee of
$110 per person. Luncheon and re­
freshments are included.
John E. Moye, partner in the firm
Head & Moye, Denver, and currently
chairman of the Colorado Bar Associa­
tion Uniform Commercial Code Revi­
sion Committee, will serve as faculty
for the seminar.

Promoted in Arvada
Colorado National Bank, Arvada,
has promoted Alan K. Parker to vice
He joined the bank in 1972 and
has held positions in the instalment
and commercial loan departments.
Federal Reserve Bank of St. Louis



Named to succeed Mr. Lyon on
the WESTNET board was Leonard
W. Huck, newly elected president
and chief administrative officer of
Valley National Corporation.


bank in 1979. Mr. Hall has been with
the bank since 1981.

Two Elected in Boulder
Arapahoe N ational Bank in
Boulder recently announced the elec­
tion of J. Edmund Lister and Kent
Ingram to assistant vice president.



Mr. Lister most recently served
as vice president at American Bank
in Loveland. Mr. Ingram joins the
Arapahoe bank from University Na­
tional Bank in Fort Collins, where he
served as assistant vice president in
the consumer and commercial loans
department for three years.

New President Named
Alan L. Lord has been appointed
president and chief executive officer
of Cache National Bank of Greeley,
according to J. Barney Flood, chair­
Mr. Lord originally joined Cache
National Bank in 1962 as executive
vice president and managing officer,
becoming its president in 1964. In
1980 he transferred to Greeley Na­
tional Bank to serve as president
and chief executive officer, a posi­
tion he has held until this most re­
cent appointment.

Manager Appointed at
Denver Energy Office

G. Michael Moore has been ap­
pointed vice president and manager of
D enver
Energy Office of
N orw est Bank
Denver Appointments Told
M in n e a p o lis ,
United Bank of Denver has ap­ N.A., (formerly
pointed William J. Powers to vice N o r th w e s te r n
president, Kenneth D. Brown and National Bank of
Sidney N. Held to assistant vice Minneapolis), ac­
president and John R. Hall to ex­ cording to Todd
L. Parchman, sen­
ecutive banking officer.
Mr. Powers, who joined the bank ior vice president
in 1976, is a lender in the bank’s and head of the
energy and minerals group. Mr. bank’s energy and natural resources
Brown joined in 1981 and was named department. Mr. Moore will have re­
a commercial banking officer later sponsibility for the division’s oil and
that year. Mr. Held started with the gas lending and investment activities.
Northwestern Banker, June, 1983

The name comes from a Spanish word meaning “ mountainous."
It's the fourth largest state in the U.S., with the Rockies covering
two-fifths of its total area.
Join Jim Armstrong, President and CEO; Dick Schneider, Executive
Vice President; Don Pederson, Senior Vice President; and their
associates from the Correspondent and Bond Departments for the state
bankers convention, June 28 and July 1, in Sun Valley.
Norwest Bank Minneapolis, N.A.
Correspondent Banking Department

H kM M



Member FDIC.
Federal Reserve Bank of St. Louis


80th Annual

Montana Bankers
Association Convention
June 2 8 - July 2
Sun Valley, Idaho

Vice Pres.

HE breathtaking surroundings of Sun Valley, Ida­
ho, will be this year’s location for the 80th Annual
Montana Bankers Association Convention being held
June 28-July 2.
M BA President Erie C. Gross, president of Little
Horn State Bank, Hardin, will preside at the conven­
tion. Scheduled to succeed him as president for
1983-84 is Robert Sizemore, M B A vice president,
Western Bank of Chinook. Also assisting Mr. Gross
this past year has been M BA Treasurer Chuck Ped­
ersen, president, First Interstate Bank of Great Falls,
and Executive Vice President John T. Cadby.
Men’s golf and mixed doubles tennis tournaments,
ladies putting contest and trap tournament will head
up the schedule of activities that will begin Wednesday
morning, June 29. Also planned are ladies golf and
singles tennis tournaments and a fun run. Friday night
entertainment will feature dancing with the “ Many
Sounds of Nine.’’
Tuesday, June 28
9:00 Executive committee meeting.
1:00 Board of directors meeting, Walnut Room.
3:00 -6:00 Registration, Sage Room.
6:30 Board of directors reception, Warm Springs
7:30 Board of directors dinner.


Exec. V.P.

Past Pres.


Federal Reserve Bank of St. Louis

Wednesday, June 29
8:00 Men’s golf tournament, Sun Valley Golf Course.
9:00 Mixed doubles tennis tournament, Sun Valley
Tennis Courts.
9:30 Ladies putting contest, Putting Green.
1:00 Trap tournament, Sun Valley Trap.
3:00 -6:00 Registration and information desk, Sage
3:00 Nominating committee meeting, Lodge TV
3:30 BankPac Trustee meeting, Inn TV Room.
Thursday, June 30
7:30 -9:00 Prayer Breakfast, Continental/Divide.
Speaker: General Robert C. Mathis, Bozeman.
8:00 Registration and information desk, Sage Room.
9:15 Business session, Limelight Room.
“ Welcome” —Erie C. Gross, M BA President
and president, Little Horn State Bank.
•“ It’s Later Than You Think” —Alex “ Pete”
Hart, executive vice president, First Interstate
Bank Corporation, Los Angeles, Calif.
10:15 Coffee break.
10:45 »William H. Kennedy, president, ABA.
Northwestern Banker, June, 1983


Montana News



11:15 •“ International Agribusiness Trends’ ’—Hugo
Steensma, senior vice president, Rabobank
Nederland, N.Y.
10:00 Ladies golf tournament, Sun Valley Golf
10:00 Ladies singles tennis tournament, Sun Valley
Tennis Courts.
12:00 BankPac luncheon, Lodge Dining Room.
1:30 Special interest session, Robert McNellis, vice
president, Federal Reserve Bank of Minneap­
olis, Helena Branch.

1:30 Special interest session, Federated Investors,
Inc., Pittsburgh, Pennsylvania.
6:30 Associates reception, Lodge Terrace.
7:30 Dinner on own.
Friday, July 1
7:30 Fun Run, Sun Valley Golf Course.
7:30 25 Year Club breakfast, Rams Head Rest­
9:00 Ladies champagne breakfast, Lodge Dining
9:00 Business session, Limelight/Divide.
9:00 » “ The Reagan Revolution” —Dr. Barry Asmus,
Boise State University, Boise, Idaho.
10:00 Coffee break.
10:30 *“ The Presidency” —Hugh Sidey, Washington
Contibuting Editor, Time Magazine.
11:15 Annual membership meeting.
12:30 Past presidents reception and lunch, Lodge Ter­
Afternoon open.
7:00 Reception, Opera House Lawn.
8:00 Nite-Club dinner/dance, Limelight/Divide/Continental.
8:00 Dancing with the “ Many Sounds of Nine.”

You Will See Them at the 80th Annual
Montana Bankers Association Convention
HE follow in g m etropolitan
bankers have indicated they will
be attending the Montana Bankers
Association Convention June 28July 2, in Sun Valley:


Security Bank, N.A.: Dick Kjoss,
president; Bill Wilson and Gene
Coombs, vice presidents.

IntraWest Bank of Denver: Rob­
ert S. McRae, senior vice president;
Terry J. Tangen, vice president; Kirk
D. Reed, assistant vice president.
First Bank: Robert J. Anderson,
executive vice president; Kenneth
A. Wales, senior vice president; Ed­
ward L. Whalen and David O. Wil­

Our congratulations to President Erie Gross, the MBA Officers and
Staff for planning an interesting and informative convention program!

Be Seeing You at Sun V a lle y ...


fyam ily ßatih

Banker, June, 1983
Federal Reserve Bank of St. Louis

liams, assistant vice presidents;
Leonard P. Kiskis, correspondent
banking officer.
F&M Marquette National Bank:
Philip G alii van, senior vice presi­
dent; William K. Klein, vice presi­
dent; Richard E. Holmes and Jim
Kammerer, assistant vice presi­
Norwest Bank Minnneapolis: W.
James Armstrong, president and
chief executive officer; Richard D.
Schneider, executive vice president;
Donald G. Pederson, senior vice
president; Richard C. Storlie, vice
president; John D. Huston, corre­
spondent banking officer; Clifford
A. “ Ted” Taney, assistant vice
St. Paul
American National Bank & Trust
Company: Robert E. Sipple, senior
vice president and Craig Redalen,
correspondent banking officer.
The First National Bank of St.
Paul: Andrew G. Sail, Richard M.
Carey, Richard E. Pringle and Dale
S. Hanson.
San Francisco
Bank of America: Robert J.
O ’Neill, vice president.
Seattle-First National Bank:
James R. Anderson, senior vice
president & manager—national divi­
sion; John S. Madison, vice presi­
dent-correspondent bank depart­

• M ontana
• People*

Hard working people. Taking the world o f tomorrow
into the hands o f today. With the help o f Montana bankers.
We salute you.
We look forward to seeing you in Sun Valley, Idaho, June 29July 2, at the Montana Bankers Association Convention.

First Bank M inneapolis

Correspondent Banking Department.
First Bank Place, Minneapolis, MN 55480(612)370-4762
Federal Reserve Bank of St. Louis


Montana News

Real Estate Lending Conf.— June 16-17
HE 1983 Montana Bankers A s­
sociation Real Estate Lending
Conference will be held June 16-17
at the Colonial Inn, Helena. Repre­
sentatives from private mortgage
insurance companies, private and
secondary market organizations,
FHA, VA, Montana Board of Hous­
ing and Montana Board of Invest­
ments will be in attendance to
discuss recent trends and innovative
ideas in marketing and insuring
The program schedule follows:


Thursday, June 16
8:00 Registration.
8:15 Continental breakfast/secondary marketers’ forum.
9:30 Welcome, M B A President
Erie Gross, Little Horn State
Bank, Hardin.
9:45 “ Stress Management” —Zella
Jacobson, Great Falls.
10:45 Coffee break.
11:00 “ Commercial Real Estate
L e n d in g ” —M .L. H anson,
United Bank of Denver.
12:00 Luncheon & entertainment.

Announced in Great Falls
First National Bank of Great
Falls recently announced the promo­
tions of two assistant vice pres­
Deborah D. Ducas joined the
bank in 1979 and has been promoted
in the marketing area. She previous­
ly worked for the Atlanta Newspap­
ers, Inc., as a market analyst for the
Minneapolis Star and Tribune and
project supervisor for Medtronic,
Inc. William J. Pledge, promoted in
property and security, started with
the bank in 1962.
In the lending division of the bank
two organizational changes have
been announced.
Jere B. Davis has been appointed
chief credit officer and James L.



Banker, June, 1983
Federal Reserve Bank of St. Louis

most recently worked in this capaci­
ty as well as senior vice president in
Mrs. Kartevold will be responsi­
ble for the bank’s marketing divi­
sion, with special emphasis on bus­
iness development and public rela­

1:30 “ Commercial Real Estate
Lending” continued, M.L.
Hanson, United Bank of Den­
2:30 Coffee break.
2:45 “ E scrow L ia b ility ” —John
Gordon, Kalispell.
3:30 “ Title Insurance Endorse­
ments” —speaker to be an­ Billings Bank V.P.
Receives Certification
4:15 Free time.
Don Hanson, vice president and
6:30 Attitude adjustment hour
cashier of First Citizens Bank of Bil­
(with sponsors).
lings, has received his certification
as a Certified Public Accountant.
Friday, June 17
Mr. Hanson began his banking
8:00 C ontinental b rea k fast & career as a staff auditor at North­
forum, FHA, VA, MBOH &
western National Bank of Minneap­
olis in 1969. He transferred to the
9:15 “ U nderw riting the SelfFirst National Bank of the Black
employed Borrower” —Scott
Hills, Rapid City, S.D., in 1971; joined
the First National Bank and Trust,
11:00 Coffee break.
Wibaux, in 1973, and joined First
11:15 Legislative report, John Cad- Citizens Bank of Billings in 1976.
by, M BA executive vice presi­
dent, and George Bennett,
M BA counsel.
11:45 Committee reports and door Promoted in Bozeman
Susan J. Lien has been promoted
12:00 Adjournment.
to operations officer of First Bank
Bozeman, Boze­
man, according
to H a rry W.
N ew lon, p re s ­
Ms. Lien joined
the bank staff in
March, 1980, as
an a ccou n tin g
clerk and was
p r o m o te d
operations assis­
tant in 1981. Ms. Lien has an
Purdy, manager of the commercial associate degree in accounting.
loan department. Mr. Davis, who
has served as president at First
Bank Forsyth and First Bank Havre, Anaconda Election Told
joined in Great Falls in 1977. Mr.
The board of directors of First
Purdy joined First Bank Great Falls Security Bank of Anaconda has elec­
in 1980 after serving as second of­ ted
M a rlen e
ficer at the Eastside Bank since Lewis as person­
nel & operations
Announced in Glendive
The announce­
First National Bank of Glendive ment was made
recently announced that Thomas W. by F.R. Bennett,
Hughes was named executive vice p resid en t and
president and Jane T. Kartevold chairman.
Ms. Lewis has
was named assistant cashier in
been with the
charge of marketing.
Mr. Hughes started his banking bank since it
career in Helena in 1956, joined opened in March of 1968 and has
First National in Glendive in 1965 been involved in most areas of bank­
as a commercial loan officer and has ing.

Montana News


Managing Director Named
For Eastern Region
Cal Northam has been promoted
to the Eastern Montana Regional
sta ff of First
Bank System as
assistant to the
managing direc­
Mr. Northam
joined the staff
of First Bank
Billings in Sep­
tem ber, 1981,
and most recent­
ly held the posi­
tion as the bank’s manager business
development. Mr. Northam will re­
main in Billings, headquarters of the
First Bank System Eastern Mon­
tana Region.

Great Falls Bank Adds One
William B. Hurlbert has joined
First Bank West Great Falls as
assistant man­
ager of the timepay department,
a c c o r d in g
Robert M. Pancich, president.
Mr. Hurlbert
began his bank­
ing career in
1978 at First
B ank
G re a t
Falls as outside
adjuster and was promoted in 1980
to personal banking officer.


Banking, Two
MOrds Say It All
Security Bank
W e o ffe r c o m p le te c o r r e s p o n d e n t b a n k in g s e rv ic e s .
Trust Services in c lu d in g p e n s io n a n d p r o fit
s h a rin g p la n s
Investment Services in c lu d in g c o m p u te r iz e d
in v e s tm e n t p o r tfo lio

Rapid Clearing of Cash Letters
Wire Transfers
Participations and Overlines
Bank Stock Loans
Complete Data Processing in c lu d in g o n - lin e s e rv ic e
Coin and Currency Shipments
Fed Funds Transactions
A t S e c u rity B a n k w e u n d e rs ta n d th e n e e d s a n d
p ro b le m s o f b a n k in g in to d a y 's e c o n o m ic a n d
d e re g u la te d b a n k in g e n v ir o n m e n t. A n d w e 'v e g o t
th e e x p e rie n c e a n d th e re p u ta tio n th a t assures
y o u w e k n o w h o w to h e lp . Let G e n e C o o m b s te ll
y o u m o re . G iv e h im a c a ll a t 4 0 6 /6 5 7 -3 8 6 6 .

New Bank to Open in
Forsyth, President Named
Verland A. Thomas, vice presi­
dent and cashier at Montana Bank
of Billings for the past four years,
has been named president of Mon­
tana Bank of Forsyth. An affiliate of
Montana Bancsystem, Inc., Mon­
tana Bank of Forsyth is scheduled
to open on July 1, 1983.
Prior to his affiliation with the
Billings Bank, Mr. Thomas was
with First Northwestern National
Bank from 1959 to 1979 in various
positions including auditor, cashier
and assistant vice president.

Acquisition Approved
The Federal Reserve Bank of Min­
neapolis recently announced ap­
proval of the application by Choteau
Bancorporation, Inc., to acquire the
Citizens State Bank of Choteau.
Federal Reserve Bank of St. Louis

.-J r*



Gene Coombs
Gene looks forward to seeing you at the Wyoming Bankers Association
Convention June 16-18 and at the Montana Bankers Association Convention
in Sun Valley June 28 - July 2.

29TH & 3RD AVE. N. • (406) 657-3600 • BILLINGS, MONTANA

Northwestern Banker, June, 1983


The toughest
credit problem
has the
easiest solution.


A call to N o rw e s t The toughest

of the tough credit problems
are the ones that give bankers
gray hair and headaches. We’re
talking about that extra difficult
or complex credit transaction.
The kind you see only in a credit
or loan officer’s nightmare.
It’s nice to know that when you’re
face-to-face with this kind of
credit transaction, you’ve got
someone to turn to for help.
The Financial Institutions Group
at Norwest Bank Omaha has the
experts and the expertise when
it comes to credit. If there’s a
special credit problem confronting lenders, chances are we’ve
seen it before and know how
to handle it.




When you find yourself suffering
from an extra painful credit head­
ache, you know where to call to
get relief. Norwest Bank Omaha.


Call M yron P eterson, C re d it
D epartm ent, 4 0 2 /5 3 6 -2 2 4 3 .


Norwest Bank Omaha
(formerly U.S. National Bank of Omaha)
Member FDIC Affiliate of Norwest Corporation



Banker, June, 1983
Federal Reserve Bank of St. Louis


i m

OFFICERS of the Nebraska Bankers Association are pictured in photo at left. From left to right, they are: Immed. Past Pres.— Harold P.
Stuckey, pres., Lexington State B&T; Pres. — Don G. Johnson, pres., Farmers Natl., Pilger; Pres.-Elect.—A.C. “Skip” Hove, Jr., chmn.,
Minden Exchange Bank; Exec. Vice Pres.—Stan Matzke, Jr., Lincoln. RIGHT— Retiring NBA Pres. Stuckey (center) congratulates two new
50-year club members: Bernard M. DeLay (left), pres. & ceo , DeLay First Natl. B&T, Norfolk, and Walter L. Kupke, dir., 1st Natl., York.

block south of the new Cornhusker
Hotel. It also has plenty of parking
and easy access.” Current NBA
chairman and CEO, First National headquarters are in the Old Sharp
Bank of West Point.
Building, which was purchased by
Personnel—Jeff L. Gerhart, vice the American Charter Savings &
TRESSING the need for partici- president, First National Bank, Loan.
Mr. Johnson also announced that
pation and cooperation byNewman
every Grove.
Planning—Gary Hall, president, the NBA advertising and general
Nebraska banker, Don Johnson out­
lined at the 86th Nebraska Bankers Western National Bank, Scotts- budgets “ will be combined into one
for all banks. The budget committee
Association Convention in Omaha bluff.
BankPac—Glenn M. Adair, ex­ and the Executive Council feel that
early last month some of his goals as
the new N B A president. Mr. ecutive vice president and cashier, all banks benefit from the statewide
advertising and all banks should
Johnson, who is also president of Springfield State Bank.
contribute their fair share.” In con­
Farmers National Bank in Pilger,
succeeded Harold Stuckey, presi­ Bachand, senior vice president, Nor- nection with this, it was announced
at the convention that the NBA will
dent of Lexington State Bank and west Bank Omaha, N.A.
be a sponsor, with the exclusive
Trust Company. Mr. Johnson made
financial advertising portion, of
it clear he intends to build further on
Mr. Stuckey’s ’82 - ’83 slogan of “ in­ Guardian State Bank & Trust Co., Nebraska football and basketball
radio broadcasts in the coming
volvement” by members.
school year.
He announced that the two weeks
In his President’s Report, Mr.
of “ organizational retreats,” or com­ the NBA building committee “ has
mittee chairmen training sessions recommended and the executive Stuckey noted that the input of
will be conducted again, this time at council approved yesterday, the members last year resulted in NBA
Indian Hills Country Club in Beem- leasing of a new headquarters build­ conducting 42 workshops and semi­
er the last two weeks in June. He ing at 525 South 13th Street, Lin­ nars across the state. One factor was
urged all members to make known coln. It is an ideal location, one block creation of a committee to deal only
to the chairmen as soon as possible west of the State Capitol, and one with education. One of its results
their input for the various commit­
Nebraska Convention Election Results
tees. He appointed the following
Pres.— Don G. Johnson, pres., Farm­ Pres.—Alice Dittman, pres., Corn­
Agriculture—John Martin, vice
ers Natl. Bank, Pilger.
husker Bank, Lincoln.
president, The Omaha National
Pres.-Elect—A.C. (Skip) Hove, Jr., Vice Pres.—Jack Selzer, pres., ScottsBank.
chmn., Minden Exchange Bank.
bluff Natl. Bank.
Immed. Past Pres.— Harold P. Stuck­
Bank Management—A.C. “ Jack”
ey, pres., Lexington State B&T Co.
Holmquist, president, York State
ABA Council
Bank & Trust Co.
2-year term expiring Oct. 1985— Har­
Education Committee—Homer
Executive Council—3-year terms
old P. Stuckey, pres., Lexington State
Pierce, president, Seven Valleys
Group 2—James L. Howe, pres., First
B&T Co.
Natl. Bank, David City.
(Wm. W. Cook, Jr., pres., Beatrice
State Bank, Callaway.
Group 4— Rus Morgan, pres., First
Natl. B&T Co., continues on ABA
Government R elations—M el
Natl. Bank, Elwood.
Council until October, 1984 and is
Adams, chairman and CEO, Keith
Group 6—Jack Selzer, pres., Scotts- designated ABA Vice Pres, for
County Bank & Trust Co., Ogallala.
bluff Natl. Bank.
Group 7—Jim Hansen, pres., North
ABA State Membership Chmn. (new
Loans and Investments—G.E.
Side Bank, Omaha.
position)— Ray Tiedje, pres., Bank of
Gunderson, president, Commercial
Group 8— Max Callen, vice pres.,
State Bank, Wausa.
Natl. Bank of Commerce, Lincoln.
Marketing—Gerald C. Hunke,

Don Johnson Assum es NBA Presidency










Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983


Nebraska News

AMONG those addressing the convention were, from left: Nebraska Governor Robert Kerrey; Jeff Sternberg, First Bank Systems, Inc., Min­
neapolis; James Sexton, FDIC director of bank supervision, Washington, D.C., and Penny Damlo, futurist with Anticipatory Sciences, Inc.,

was providing to members the video
tape rental program. He also noted
that reinstatement of the six group
meetings last year drew well over
1,000 participants.
Mr. Stuckey gave special thanks
to Stan Matzke, Jr., who joined
NBA one year ago as executive vice
president. He thanked three staff
members who were leaving NBA at
the conclusion of the 1983 meeting.
They are Dave McBride, communi­
cations director the past seven
years, who will be starting his own
business; Claudia Russell, office
manager, who will be devoting more
time with her two teen-age daugh­
ters at home, and Marcia Hecox,
bookkeeper, whose husband recently
graduated and is establishing his
dental practice in Cozad.
Details of the treasurer’s report,
including the new dues structure to
encompass the advertising budget,
were outlined by Mr. Matzke. He
also said NBA is dropping the quar­
terly magazine it started up last
An amendment to the articles of
incorporation (Article 10) requires
that in the event two or more banks
are under common ownership (25%
or more of ownership or the power to

control) then each such bank must
be a member of the NBA. This is a
requirement similar to that found in
other states authorizing multiple
ownership of banks, such as multi­
bank holding companies.
Awards Luncheon
Special recognition was given to
several bankers and banks.
50-year Banker awards went to
Walter L. Kupker, director and re­
tired executive vice president, First
National Bank of York, and Bernard
M. DeLay, president and CEO, the
DeLay First National Bank & Trust
Co., Norfolk.
Andy C. Peterson, chairman of
the First State Bank in Lodgepole,
was recognized for his 65 years of ac­
tive service to the banking industry.
Elijah A. (Lige) Levitt, president
of The First Trust Co. of York, was
presented a plaque on the occasion
of his 99th birthday the day of the
awards luncheon. Mr. Levitt, who is
also president of banks in McCook
Junction, Waco and Bradshaw,
climbed the steps to the speakers
rostrum by himself, thanked the
“ young men” present for their re­
cognition, then returned unassisted
to his table.

Nebraska banks honored for ob­
serving 100th anniversaries the past
year were First National Banks in
Aurora, Falls City, Utica and York;
Cones State Bank in Pierce, and
Stanton National Bank.
Outgoing members of the NBA
Executive Council also were recog­
nized with plaques.
James L. Sexton, director, divi­
sion of bank supervision for FDIC,
Washington, D.C., referred to the
problems many individuals and bus­
inesses, including banks, have ex­
perienced in the past year trying to
adjust to an economy now going
through disinflation. “ There is
nothing like trouble, especially in
large, 1982-size doses, to bring to
the surface the latent weaknesses in
borrowers, as well as banks.
“ Across the nation, FDIC has
identified as of this date, 458 prob­
lem insured banks, a little more than
twice the number from year-end
1981,” he said. Mr. Sexton added
that “ Last year 42 banks failed.
There will undoubtedly be more
than that in 1983.” He attributed to
all the problem banks “ significant
managerial and operational weak­
nesses which are either the direct

LEFT—Stan Matzke, Jr., NBA exec, v.p., visits with ABA Pres. William H. Kennedy, Jr., chmn., Natl. Bank of Commerce, Pine Bluff, Ark.,
before Mr. Kennedy’s address to the convention. RIGHT—Special recognition was given to Nebraska’s oldest active banker, E.A. Levitt,
pres., The First Trust Company of York, and president of several Nebraska banks, by Harold Stuckey, retiring NBA president.

Banker, June, 1983
Federal Reserve Bank of St. Louis

Nebraska News


LEFT—John D. Woods, chmn. & ceo, Omaha Natl., and Bill Cook, Jr., pres., Beatrice Natl. B&T. RIGHT—John Martin, v.p. & head of Omaha
Natl.’s fin. inst. div.; Judd Wagner, v.p.-trust, Omaha Natl.; Roy Dinsdale, chmn., State Bank of Palmer; Dan Boehle, v.p., Omaha Natl., and
Phil Jossi, pres., Farmers Natl., Grant.

LEFT—Lee Bachand, sr. v.p., Norwest Bank Omaha, and Judy; H.L. Gerhart, Jr., pres., 1st Natl., Newman Grove, and Georgia; John
Cochran, pres., Norwest Bank Omaha, and Bette. RIGHT—Gary Fenster, v.p., First Mid America, Omaha; Diane Herbolsheimer; Ted Wueibben, First Mid America, Omaha; Jim Herbolsheimer, v.p., Bank of Norfolk, and Mike Wincek, acct. exec., First Mid America, Omaha.

LEFT— Don Ostrand, v.p., First Natl., Omaha, and Ginny; Eva Y. Knight, secy, to board, and Robert E. Knight, pres., Alliance Natl. B&T.
RIGHT— Ed Batcheider, v.p., U.S. Check Book Co., Omaha; Don Harms, pres., 1st Natl., Syracuse; Judy and Ken Ward, v.p. & cash., Cornhusker Bank, Lincoln, and Joan and Rick Clabaugh, U.S. Check Book Co., Omaha.

LEFT—Orrin A. Wilson, sr. exec, v.p., First Natl. B&T, Lincoln; Kelly Holthus, pres. & ceo, and Darrell Franklin, sr. v.p., both with 1st Natl,
York, and William C. Smith, pres., 1st Natl. B&T, Lincoln; RIGHT— Kathy Votaw, corr. bk. off., 1st Nat!., Lincoln; Margo and H.L. Mac
McKibbin, pres., Bank of Gering; Harriett and Don Stull, chmn., Guardian State B&T, Alliance, and Gary Bieck, v.p. 1st Natl., Lincoln.
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983


Nebraska News

LEFT— Phil Straight, sr. v.p., United Missouri Bank of Kansas City; Rod Vandeberg, pres., and Jan, and Gus Scholz, chmn., and Lola, all
four with First Natl. B&T, Falls City, and Dick Muir, v.p., United Missouri Bank. RIGHT— Ken Meredith, sales coordinator, and Deb Roberts,
Nebraska sales repr., both with Financial Systems, Inc., Kearney, and Michael Braun, pres., Wymore State.

cause of the problem or were a pro­
minent factor without which the
problem could not have occurred/’
Mr. Sexton said an analysis of the
42 bank failures in 1982 and the 17
to date (May 5) shows “ typical in­
sider abuse, self-serving practices,
and outright dishonesty. Nearly al­
ways, there was a permissive or dis­
interested board of directors.” He
added that “ the good news is that
14,356 insured banks are not on the
problem list...89% of insured banks
are in the top two rating bands
under the Camel system...and in

Nebraska, that figure is 91% .”
Mr. Sexton reviewed briefly
FD IC’s proposed risk-related prem­
ium program whereby better-run
banks would have greater premium
rebates. He also tried unsuccessfully
to sell Nebraska bankers on FDIC
Chairman Wm. Isaac’s proposal to
merge the FDIC and FSLI funds.
Austin Donnelly of Australia,
speaking on “ World Agriculture,”
told Nebraska bankers “ Agriculture
is not an island — it is affected by
what happens in financial and cap­
ital markets. It must face up to

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Banker, June, 1983
Federal Reserve Bank of St. Louis

those things necessary to overcome
bad-time situations.”
Don Cordtz, economic editor for
ABC TV news gave a frank assess­
ment of much of the economic and
business reporting seen on the tube.
It has gradually improved, he feels,
noting that “ TV is effective in con­
veying emotions, but not so much in
conveying facts. People have a
tough time absorbing facts, but the
contrary is true for emotions, so you
will see more shots of the victims of
recovery. How many more farm­
closing scenes are we going to see?
There’s no question that some of the
young guys being portrayed who
have gone broke, actually weren’t
very good farmers, and some of
them admit this and say there’s a
point to be made on the side of the
A B A President Wm. Kennedy got
a warm reception for the dedicated
work he has given to the industry
this year - especially in the work
that resulted in the Senate voting a
four-year delay in the 10% with­
holding bill (and the House’s sub­
sequent outright repeal of it). Along
with his review of A B A efforts to
obtain full, competitive services for
banks, Mr. Kennedy outlined rea­
sons for A B A support for U.S. aid to
the IMF.
Jeff Sternberg of First Bank Sys­
tems, Inc., Minneapolis gave a slidesupported review of FBS’ experi­
ment with home banking in three
North Dakota cities, where 1,000
selected customers of local FBS af­
filiates were surveyed. From that
number, 58% responded and from
them the 200 for the test were
selected. It was concluded February
(Turn to page 72, please)

Nebraska News


LEFT—Max Callen, v.p., Natl. Bank of Commerce, Lincoln, and Dean Niedan, pres. & ceo, American Security Bank, North Platte.
RIGHT— Dick Moore, v.p.-credit ins., Central States Health & Life, Omaha; Doug Schuster, v.p.-inst. Ins., Council Bluffs Savings Bank,
Council Bluffs, la., and Ted Batchelder, a.v.p.-credlt ins., Central States H&L, Omaha.

LEFT—Jim Thomas, dist. sales mgr., Daktronics, Inc. of Brookings, S.D. RIGHT—An unidentified banker at left Is assisted by Bill Pierce
(at right) and Dave Nevolti, eastern Nebraska sales repr., both with Modern Banking Systems, Omaha.

Visiting at Chiles-Heider & Co., Inc., room during NBA associate members’ party were, from left: Fred Douglas, v.p. of Chiles-Heider,
Omaha; Ted Armbruster, pres., Nebraska State, Broken Bow; Juhl Smith, chmn., 1st B&T, Cozad, and James P. Foley, sr. v.p., ChilesHeider, Omaha.

LEFT— Roger Weiss, pres., Commercial Natl., Ainsworth, is having his shoes shined courtesy of this trio of lovely young ladies fron
Packers Natl., Omaha; Carmen Vrbka (left), loan dept.; Donna DeWispalaere (center), mkt. research, and Lori Holbrook, teller. RIGHT— Bol
Labenz, exec, v.p., Columbus B&T, with Rick Patton, bond repr., and Ernie Yake, sr. v.p., both with Commerce Bank of Kansas City.
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983


Nebraska News

Holdrege Unveils “ Nebraska Textures”

mile away). Also, a first night party ^
hosted by NBA city correspondent
banks — Omaha National, First Na­
tional, Norwest (U.S. Natl.) and
Packers National, all of Omaha, and
First National and National Bank of n
Commerce, both of Lincoln.
After the Thursday night annual
banquet, Mark Russell gave clever,
hilarious entertainment with his
political satire, often accompanied ||i
by his piano novelty tunes. NBA
associate members entertained later
in poolside rooms.
The second night dinner featured
“ Up With People” and the dozens of 0
talented young people forming the
cast from all over this nation and 15
foreign countries didn’t let the au­
dience down. It was a rousing cli­
max for a fine convention.
□ ill

Two Purchase Mitchell Bank
ON May 19 in the lobby of The First National Bank of Holdrege, “ Nebraska Tex­
tures,” a Bas Relief measuring 30'x 4', was unveiled. Painted in acrylic and weighing
in at 1,500 lbs., the sculpture was the culmination of a remodeling project that involved
the entire bank interior. Jane Wilson, a Holdrege native, created “Nebraska Tex­
tures.” She is a 1977 graduate of Holdrege High School and furthered her studies at
Kearney State College and Kansas City Art Institute. Miss Wilson’s sculpture has
been placed behind the tellers and serves as the focal point of the business lobby.
Other local artists are also represented by their work in other parts of the bank.

(Continued from page 70)
1 after the control group used ter­
minals at home for eight months to
perform a variety of banking func­
tions, and to select from a “ menu”
of a dozen other services. A favorite
was the current agricultural market
prices and weather reports.
Gov. Robert Kerrey made his
scheduled appearance, making an
extended case to Nebraska bankers
for the budget he sees necessary to
carry the state forward.
William Rusher, publisher for
many years of N ational Review,
gave a conservatives view of the na­
tional political scene. He said Presi­
dent Reagan combined the forces of
conservatives and economics to
forge his big win, the only one to do
that. He thinks President Reagan
will run again, attempting to keep
the social-conservative blocs in tow.
If he doesn’t run, George Bush as a
candidate would have to coalesce
these forces and, Mr. Rusher point­
ed out, it was no accident that Mr.
Bush’s photo adorned the front
cover of the latest issue of Jerry
Falw ell’ s national conservative
Mr. Rusher said the Democrats
will try to focus attention strictly on
economic issues, but their stance
will be weakened by emergence of

Northwestern Banker, June, 1983
Federal Reserve Bank of St. Louis

recovery then from today’s reces­
Penny Damlo’s graphics presen­
tation of “ Future Perspectives”
gave an astounding, bewildering ar­
ray of options for conducting tomor­
row’s business.
Jack Whittle, president of Whit­
tle, Raddon, Motley and Hanks fi­
nancial marketing firm in Chicago,
was a right choice as windup
His aggressive, positive ap­
proach, laced with typical Whittle
humor was the kind of message that
made registrants feel they had got­
ten a new set of chips for “ Winning
the Financial Services Gam e”
(theme of the 1983 Convention). He
gave two strong pieces of advice for
openers, then elaborated on them
throughout his talk: 1. Look at the
possibility of expanding your ter­
ritory from 50 miles to unlimited -“ if
there’s not loan demand locally, go
elsewhere!” 2. Maybe look beyond
loans to other services to be per­
formed for fees.
In connection with this, Mr. Whit­
tle urges banks to set a goal of hav­
ing all staff income covered by fees
within five years. Some of the more
than 300 banks his firm counsels are
already doing this, he stated.
Entertainment features included
a trip to the Ak-Sar-Ben races (one

Roy Dinsdale, 56, of Palmer and
Pat Hughes, 32, of Lexington, have
purchased the First National Bank 0
in Mitchell from LeRoy D. Morse,
president; Ken D. Hubbs, executive
vice president; Quentin C. Morse,
senior vice president and cashier,
and Charles F. Lee, vice president #
and ag rep.
The two Morses and Mr. Hubbs
have resigned their positions, and
Mr. Lee will continue with the bank
in his present post. Mr. Hughes, #
who was assistant vice president of
The Farmers State Bank and Trust
Company in Lexington, owned by
Mr. Dinsdale, is moving to Mitchell
as president of First National. Dave ®
Oakeson, assistant cashier in Mr.
Dinsdale’s Citizens National Bank
& Trust Co. of Torrington, Wyo.,
has moved to Mitchell as vice presi­

Newman Grove Bank
Promotes Three
The First National Bank of
Newman Grove has announced the
promotion of Jeffrey L. Gerhart to
executive vice president and Tom
King and Loren Babcock to vice
Mr. Gerhart, previously vice presi­
dent, joined the bank in 1977 after
working at several banks in Col­
Mr. King had been serving as ag
rep and joined the bank in 1978.
Mr. Babcock just joined the bank
in April of this year and previously
was employed at the North Loup Val­
ley Bank, North Loup, in the insurance agency.






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Phone: (800) 742-7462
Member, f .d .i .c .
Federal Reserve Bank of St. Louis

Northwestern Banker. June. 1983


James R. Campbell, chairman of
the board of the United States Na­
tional Bank of Omaha, has named
Culver to head
th e
rea l
estate division
of the U.S. Na­
tion a l B a n k ’ s
financial institu­
tions group.
Mr. Culver, a
U .S. N ational
vice president,
will oversee the
development and delivery of a full
line of mortgage loan products and
services designed to serve the cus­
tomers of U.S. National’s financial
institutions group.
A native of Omaha, Mr. Culver,
44, brings 14 years of real estate ex­
perience to the bank’s financial in­
stitution’s group. He began his car­

eer at the U.S. National Bank in
1964 as a loan counselor in the in­
stalment loan department. He joined
the real estate division in 1969 and
was later named vice president and
manager of the division.
* * *
Norwest Corporation, at its an­
nual meeting held the end of April,
elected Richard D. McCormick as a
director. Mr. McCormick is presi­
dent, chief executive officer and a
director of Northwestern Bell Tele­
phone Company, Omaha. He also
holds directorships at Creighton
University, the College of St.
Mary’s, Health Futures, Inc., and
the Omaha Symphony.
Mr. McCormick is chairman of
the St. Joseph Healthcare Founda­
tion, Omaha, and the Iowa State
University Engineering College A d­
visory Council.

Douglas King, previously vice
president of the Ravenna Bank, has
joined the staff of the Chase County
Bank & Trust Company, Imperial, as
vice president and trust officer.

Bank Programs for
Group«lndividual Life»Accident & Sickness

Steve W. Sutton
Vice President


W here B E N E F IT is m ore
than a m id d le n a m e

Northwestern Banker, June, 1983
Federal Reserve Bank of St. Louis


Gladys Titus Dies

Call Toll Free in Nebraska 800-742-7335
or call collect 402-475-4061

Lincoln, Nebraska 68508

Dennis R. Wood, president of
Packers National Bank, has an­
nounced the ad­
dition of Patrick
M. Coyle as a
trust officer for
the bank. Mr.
Coyle received
his bachelor of
science degree in
physics from the
U n iv e rs ity o f
Notre Dame and
is a 1976 grad­
uate of the Creighton University
School of Law.
Mr. Coyle has many years of trust
experience and most recently was
the manager of the trust department
of a large Iowa bank.

Joins Imperial Bank

Steve Sutton
For Complete
Credit Insurance
Service . . .


On April 10, 1983, an electrical d>
fire extensively damaged the office
areas of General Bank Equipment
and Systems, Inc.
Thomas C. Sternberg, president
of the firm, announced that the ser- ||
vice and installation departments
were not affected because, although
located on the premises, they have
their own separate building. Al­
though equipment damage was min- •
imal, smoke damage was termed ex­
tensive. The fire, which was controlled
quickly, came at a time that the firm
was starting extensive remodeling
in order to implement a telemar- #
keting program. Day-to-day opera­
tions continue as remodeling plans
are being completed.
* * *

The senior member of one of
Nebraska’s well-known banker fami­
lies died recently. She was Mrs. L.W.
(Gladys) Titus, 89, who had been
associated with the First National
Bank in Holdrege for 50 years.
Her husband, Liscomb W. Titus,
was an officer and later president of
First National Bank for many years.
When her husband died in 1944, Mrs.
Titus was elected chairman of the
board and served in that capacity until
resigning the post in 1978. Since that
time, she has continued as a vice presi-





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Ralph Peterson

Jim Flodine

Fred Kuehl

Mark Sorensen

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M e m b e r FDIC
Northwestern Banker, June, 1983


Nebraska News

O m aha N ational to Open New Branch

CONSTRUCTION was to begin late last month on a new branch office for Omaha Natl. Bk.
to be located at the southeast corner of the existing Lakeside Atrium Bldg, at 10407 Devon­
shire Circle, Regency development. The walk-in portion of the office, which will have its
own entrance, will contain about 5,000 sq. ft. A six-lane drive-in facility will be added to the
building, with the sixth lane containing a drive-up MoneyMat Day/Night Banking Center.
Scheduled to open this fall, the new office will offer a full line of personal, commercial and
trust services, as well as safe deposit.

dent and director of the bank.
Mrs. Titus’ nephew, L.J. (Joe) Titus,
became president in 1944, then suc­
ceeded Mrs. Titus as chairman in 1978.
At that time, his son, Louis G. Titus,
was named president and continues in
that position. Another son of Joe Tit­
us, John L., is a vice president of the
Mrs. Titus’ only daughter, Joan T.
Swan of Hastings, also is on the First
National of Holdrege board of direc­

Bank Facilities
Receive Recognition
The Commercial Financial Center
at 2121 North Webb Road, and the
Commercial National Bank at 424
West Third, Grand Island, recently
were honored by the Clean Com­
munity Systems, Inc. with their
1983 Beautification Award.
Both awards were accepted by
E.J. Thayer, president of Commer­
cial National Bank & Trust Com-


pany. The awards were presented on
the basis of physical structure, ap­
pearance of grounds, shrubs, flowers
and general maintenance. The Com­
mercial Financial Center, completed
in 1979, was built and designed by
Mid-Plains Construction. The Main
Bank was originally built in 1963
and has under gone several beauti­
fication and remodeling projects in
the past few years.
The Commercial National Bank
received the Hall County Regional
Planning Commissioners Beautifica­
tion Award in 1975 for its South
Locust facility.

SBA Names Kearney Banker
Nebraska Banker Advocate
The Small Business Administra­
tion has named Larry Wangrud the
Nebraska Bank­
er Advocate of
1983. Mr. Wang­
rud, who has
been president
of Kearney State
Bank and Trust
Company since
1979, received
the award based
on his leadership
and assistance
in helping small businesses.
Mr. Wangrud serves as a member
of the board of the Independent
Bankers Association of Nebraska
and is past chairman of the instal­
ment loan committee of the Nebras­
ka Bankers Association.

Appointed in Crete
Tom Grove

Karen Lee

Senior Vice

Bond Investment

William R. Fulton, president of City
Bank & Trust Co., Crete, has an­
nounced the appointment of Tom
Kozisek to vice president in the
areas of operations and loans.
Mr. Kozisek joins the bank from
Midwest Federal Savings and Loan
Association’s Crete office.

Mike Drahota

Mary Herzberg

Terry Reiff

Investment Banking

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Banker, June, 1983
Federal Reserve Bank of St. Louis

Om aha, Nebraska 68107

American National Bank is seeking a Com­
mercial Lending Officer. Successful candi­
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knowledge of secured and unsecured loans.
Interviews will be scheduled for selected
candidates. If qualified, submit resume and
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Northwestern Banker, June,, 1983
Federal Reserve Bank of St. Louis

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L.C. “Bud” Pike, pres., Grundy Center
N. Milner, exec, v.p., Des Moines

Promoted to V.P. in Dubuque
Robert J. Donovan was recently
promoted to vice president and trust
officer o f the
American Trust
& Saving Bank,
Mr. Donovan
began his bank­
ing career with
American Trust
in 1969 and was
appointed trust
officer in 1979,
specializing in
estate administration and opera­
tions of the bank’s trust depart­

he has been involved primarily with
estate planning services. He previ­
ously was director of financially
related services at the Federal Land
Bank of Omaha, Neb., and prior to
that was an assistant vice president
and branch manager of Northwest­
ern National Bank of Omaha.
Among his duties with the Fed­
eral Land Bank, Mr. McGarry direc­
ted the estate planning assistance
program, supervising estate plann­
ing services through 22 attorneys
serving a four state area.
He is a 1977 graduate of the
Creighton University Law School,
Omaha, and a 1974 graduate of
Briar Cliff College, Sioux City.

Grinnell President Named
Wellman Banker Appointed
To IBAA Committee
Ann D oyle, vice president,
Wellman Savings Bank, Wellman,
has accepted appointment as vice
chairman to the Bank Education
Committee of the Independent
Bankers Association of America for
the 1983-84 year. Mrs. Doyle joins
10 other bankers from different
regions of the nation who will study,
discuss and help frame association
policy on issues related to banker
education. Committee assignments
will end with the 54th annual con­
vention in New Orleans, Louisiana.
IB A A President James D. Herring­
ton, board chairman, Coldwater Na­
tional Bank, Coldwater, Kansas, an­
nounced the appointment.




Larry A. Mindrup has been named
president of Poweshiek County Na­
tional Bank, Grinnell, and Douglas
R. Hill has been elected executive
vice president. Mr. Mindrup suc­
ceeds Max A. Smith, who retired the
end of April but will remain active
on a part-time basis as vice chair­
man of the board. Mr. Smith has
been affiliated with the bank since

May 1, 1950, when he began his
banking career as an officer trainee.
Since that time he has advanced
through all levels of the bank’s
management becoming a member of
the board in 1959 and president in
Mr. Mindrup joined the bank in
1966 and has worked in all phases of
the bank’s management. He previ­
ously was executive vice president, a
position to which he was named in
Mr. Hill has been with the bank
since 1973. He has had responsibili­
ty for real estate lending, marketing
and the trust department.
Mary D. Donohoe, vice president
with the bank, also retired the end of
April. She had the distinction of serv­
ing 45 years with Poweshiek County
National Bank, and has served as
vice president since 1974.

Webster City Vice Chairman
Retires After 45 Years
William F. Vance has retired as
vice chairman of The Farmers Na­
tional Bank of Webster City, after
45 years of service. Mr. Vance
started as a bookkeeper in 1938 and
worked his way to the presidency by
1978. Since 1981 he has held the
position of vice chairman.
Steven M. VandeZande has joined
the bank’s staff as loan officer. He
has been with the State Bank of
Waupun, Wis., for the past three
years. He is a graduate of Central
College, Pella.

Missouri V alley RMA M em bers M eet

Brenton Officer to Head
Marshalltown Trust Dept.
Craig V. McGarry, trust officer
with Brenton Banks, Inc., in Des
Moines, will assume the position of
head of the trust department of
Fidelity Brenton Bank and Trust
Company, Marshalltown, according
to Thomas R. Smith, president.
Mr. McGarry, 34, joined the trust
department at Brenton Banks, Inc.
in September of 1982. With Brenton
Federal Reserve Bank of St. Louis

LENDING officers from banks in six states attended the recent annual spring conference
of Missouri Valley Chapter of Robert Morris Associates in Des Moines. A principal speaker
was RMA Pres. Douglas W. Dodge (left), exec, v.p., Mercantile-Safe Deposit & Trust Com­
pany, Baltimore, Md., pictured with the host chapter outgoing pres., Bradley Burt, v.p.,
Bankers Trust Co., Des Moines. Succeeding Mr. Burt as president is Paul Stephenson, sr.
v.p., Fourth National Bank, Wichita, Kan. Bankers from Kansas, Missouri, Iowa, Illinois,
Nebraska and South Dakota were registered.
Northwestern Banker, June, 1983


Iowa News

LEFT—Gary Benjamin, v.p., Fed. Reserve Bk., Chicago; Clair Lensing, exec, v.p., Farmers St. Bk., Marion; Bruce Meriwether, pres., First
Natl. Bk., Dubuque, and Ed Leahy, pres., Northeastern St. Bk. of Orange City. RIGHT—Chris and Ed Draisery, a.v.p. with Marilyn and Bill
Beohm, chmn. & pres., Tama St. Bk.

Iowa Bankers Attend Group M eetings
Associate Publisher
ANKERS from eastern and cen­
tral Iowa attended the first
week of Iowa Bankers Association
group meetings May 9-12, The meet­
ings provide Iowa bankers with an
opportunity to review the progress
of the IBA and to address changes
within the banking industry at a
“ grass roots” level. IB A Executive
Vice President Neil Milner brought
each group up-to-date on the legis­
lative activities of the association on
both the federal and state level. His
reporting was highlighted by the
daily progress and development of
the withholding at source legisla­
tion. Mr. Milner stated that he was
happy to also be pinch-hitting for
Iowa Bankers Mortgage Corpora­
tion Head Sam Callahan. Due to re­
cent declines in mortgage rates, the
IBMC staff was “ burning midnight
oil and then some” in order to pro­
cess the increase in applications. Mr.
Milner reported that the IBMC is
not only doing well, but is also
generating a profit for its members.
Iowa Bankers and Insurance Ser­


vices President A1 Tinder emphasized
the role that his company plays in
the education of IB A members. The
schools sponsored by IBIS for pre­
paring Iowa bankers for state in­
surance examinations have the high­
est success ratios in the state. Addi­
tionally, IBIS conducts workshops
that enable participants to comply
with the state’s insurance continu­
ing education requirements. Mr.
Tinder pointed out that often the
IBIS role as a product developer is
overlooked and explained the conti­
nuing efforts to come-up with new
insurance products to meet the
needs of Iowa bankers.
ITS, Inc. President Dale Dooley
unveiled an 8 minute audio-visual
presentation which traced the
growth of automated banking in the
state. With ATM transactions sur­
passing the 630,000 per month mark
in April, he announced that the next
step for ITS will be the study of
home banking in Iowa. He also dis­
cussed the effects of rapidly growing
ATM networks and explained the
ITS association with Nationet.
Question: When is a group meet­

ing not a group meeting? Answer:
When Superintendent of Banking
Tom Huston is unable to attend. Be
that as it may, Assistant Attorney
General Howard Hagen did an ad­
mirable job of filling Mr. Huston’s
shoes. “ What is a Bank?” was the
over-simplified title for his presenta­
tion which focused on the products
and services being offered by com­
petitive non-banks. Mr. Hagen also
detailed some of the confusion which
results when a savings and loan asso­
ciation changes its name to savings
bank. Not to be outdone by Mr.
Huston’s sometimes under estima­
ted humor, he also took a look at
name changes within the commer­
cial banking field and suggested
that a bank located in the pork pro­
ducing area of southeastern Iowa
could change its name to SouEast.
IBA President Bud Pike, presi­
dent of the Farmers Savings Bank
in Grundy Center, spoke to each of
the groups and encouraged the
bankers to correspond with their
respective group chairmen. He em­
phasized the need for involvement of
the bankers to insure a successful
and responsive state association.
Group 7 was the only odd num-

LEFT—-Jerry Gross, pres., Kirk Gross Co., Waterloo; Max Roy, sr. v.p., Drovers Bk. of Chicago, Dale Luckow, pres., Dyersville Natl. Bk., and
Pete Cartwright, inv. bond rep., United Central Bk., Des Moines. RIGHT—Wayne Bismark, a.v.p., LaSalle Natl. Bk., Chicago; Lawrence
McGrath, sr. v.p., Peoples Bk. & Tr., Cedar Rapids; Bill Stratton, a.v.p., Fed. Res. Bk. of Chicago, and Roger Hughes, exec, dir., Iowa College
Foundation, Des Moines.

Northwestern Banker, June, 1983
Federal Reserve Bank of St. Louis


Iowa News


LEFT—AI Tinder, pres., IBIS: Arnie Ripperger, v.p., Bankers Trust Co., Des Moines; Ruthie and Jerry Trudo, v.p., Merchants Natl., Cedar
Rapids. RIGHT— Robert Holland, v.p., Continental Bk., Chicago; Tom McDermott, pres., LaPorte City St. Bk.; Rod Jensen, v.p. & cash.,
Norwest Cedar Falls, and Lynn Horak, exec, v.p., Norwest Des Moines.

LEFT— Rod Brown, pres., Hardin Cty. Sav. Bk., Eldora; Henry Royer, pres., Merchants Natl., Cedar Rapids; Mrs. Bob Brown; John Mangold,
sr. v.p., Merchants Natl., Cedar Rapids, and Gretchen and Jim Brown, exec, v.p., Hardin Cty. Sav. Bk., Eldora. RIGHT—Al Highum, a.v.p.,
First Natl. Bk., Minneapolis; Bernie Miller, corr. bkg. off., American Tr. & Sav. Bk., Dubuque, Bill Rickert, sr. v.p., National Bk. of Waterloo,
and J.P. Mansfield, III, a.v.p., First National Bk., Minneapolis.

LEFT—Mark Christen, v.p., Valley Natl. Bk., Des Moines; Jerry Schiermeister, pres., Mingo Tr. & Sav. Bk.; Terry Martin, v.p., Merchants
Natl., Cedar Rapids, and Lowell Halfhill, v.p., Mingo Tr. & Sav. Bk. RIGHT— Claude Dawson, dir. customer support and Mary Beck,
customer support rep., UCB Systems, Des Moines, with Gini and Gary Livesay, v.p., IBIS, Des Moines.

LEFT— Dave Varnerin, a.v.p., First Natl. Bk., Chicago, Ivan Johnson, sr. v.p., United Central Bk., Des Moines, and Wes Ehrecke, diir., Iowa
Bankers Assn. Center— IBA Treasurer Russ Spearman, pres., Citizens Sav. Bk., Sac City, and wife Le with Dick Flesvig, a.v.p., First Natl.
Bk., St. Paul. RIGHT— Robert Millen, pres. & c.e.o., United Central Bk., Des Moines, with Joann and Scott Fetner, pres., Natl. Bk. of
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983


Iowa News

LEFT—Walt Astor, data center mgr., UCB Systems, Cedar Rapids; Roger Busch, v.p. & cash., Baldwin Sav. Bk.; David Butterworth, a.v.p.,
Citizens St. Bk., Wyoming, and Roger Jerrick, dist. mgr., U.S. Life Credit Insurance, Des Moines. RIGHT— Dale Froehlich, inv. off., S.C.I.I
Cedar Rapids; Russ Schmeiser, sr. v.p., 1st Natl. Bk., Iowa City; Pam Windham, bkg. assoc., Continental Bk., Chicago, and Terry Martini Cl
v.p., Merchants Natl. Bk., Cedar Rapids.

LEFT—Mike Bauer, corr. bkg. off., Davenport Bk. & Tr. Co., and wife Judy; Bill Logan, pres., The State Central Bk., Keokuk, and wife Joan;
and Glen Piotter, comp. serv. off., Davenport Bk. & Tr. Co., and wife Mary Lou. RIGHT—Jack Rigler, pres., Central St. Bk., Muscatine, and
wife June; Dick Muir, v.p., United Missouri, Kansas City; Marge and Richard Kautz, sr. v.p., Davenport Bk. & Tr. Co.

LEFT—Tom Buelow, v.p., First Natl. Bk., Dubuque; Bernard Kersey, v.p., Norwest Des Moines; Mike Reilly, mktg. off., and William Kruse,
chmn. & c.e.o., First Natl. Bk., Dubuque, and Bob Buenneke, v.p., Norwest Des Moines. RIGHT— Dave Williams, a.v.p., and Al Highum,
a.v.p., both with First Natl. Bk., Minneapolis, with Artie and Eddie Wolf, Eddie Wolf Bank Sales.

bered group to meet during the first
week of meetings, and following the
customer of odd numbered groups
holding elections in odd numbered
years, elected Gordon Wold to the
office of group Chairman. Mr. Wold
is the president of the Poweshiek
County Savings Bank in Brooklyn
and he succeeds Bill Beohm, chair­
man and president of the Tama
State Bank. Bill Rickert, senior vice
president of the National Bank of
Waterloo, was elected group secre­

Banker, June, 1983
Federal Reserve Bank of St. Louis

Slater President Named
Tom C. Dunlap, who continues as
chairman of South Story Bank &
Trust, Slater, has announced the
election of John Walther as presi­
dent and a director of the bank, ef­
fective June 1. Mr. Walther is a
graduate of Iowa State University
and has been president and chief ex­
ecutive officer of the Renwick Sav­
ings Bank, Renwick, for the past 17
While continuing to own both


banks, Mr. Dunlap is moving to
Bellevue to assume control of the
Andrew Savings Bank as chairman. ^
The Andrew Savings Bank recently
moved its charter from Andrew to
Bellevue with full service offices
also operating in Andrew and LaMotte. A new bank building is under
contruction in Bellevue, with com­
pletion expected sometime this fall.
Lorna H. Wissink, previously chair­
man, was elected honorary director
and Everett N. Sather was elected to (§,
the board.

M anaging by the seat o f your pants
could m ean losing your shirt.
In the past, banking was simple — buy low
and sell high. You could manage on instinct, by
the seat of your pants. Unfortunately, deregula­
tion has sent that philosophy the way of the
tellers cage. With change constant and com­
petition fierce, bank-management decisions are
more complicated and crucial than ever before.
A BICS management decision support sys­
tem can help you meet this challenge. With
BICS, you can make decisions quickly — full
automation of operations lets you instantly
gather into one source all information on bank
activity; at any moment you can determine the
current condition of your bank.
You can anticipate and prepare for the

future by testing your ideas and exploring pos­
sibilities with on-line financial modeling. You can
maximize marketing efforts with our central
information system that stores every piece of
customer information.
A BICS system means you, and all your peo­
ple, can make more profitable decisions. Which
means you get to keep your shirt and order a
dozen more.
Find out how you can profit;
call BICS marketing at (319)

Banks of Iowa Computer Services, Inc.
Federal Reserve Bank of St. Louis

A "Banks o f Io w a " subsidiary.

i t7 ;


Our portfolio of employee insurance plans is nothing
new to 78% of Iowa’s banks. You’ve been working
with it for years. But to prospective employees, an
IBIS benefit package can make any job offer more
lucrative. We offer many health plans to bank
em ployees, d ire cto rs and retirees. P roviding
medical, hospital, surgical and prescription drug
coverages for employees and families. And three
dental programs with coverage for check-ups, teeth
cleaning, restorative work, dentures and orthodontia.
There’s also group life insurance coverage of up to
$250,000 guaranteed. With options to purchase up to
an additional $100,000 at low group rates. As well as
individual life insurance, both term and permanent,
to meet individual needs. And two different plans for
adding family coverage. Plus low cost, high limit
24-hour-per-day travel and accident coverage for
officers, directors, employees and/or their families.
Disability? Our portfolio includes a variety of short
and long term plans to provide replacement income
should disability occur. And IBIS Retired Lifes
Reserve to help make getting off the ladder of
success easier than climbing up. All designed by
Iowa Bankers, only for Iowa bankers. At rates you
don’t have to be a banker to like. Allowing us to tailor
a benefit package to your bank that will be hard for a
prospective employee to turn down. And even
harder for a current employee to walk away from.
Intrigued? Call Margie Schaefer or Millie Uding
toll-free today. At 1-800-532-1423.

hdrl1 5 ) 4 &Services,Inc.
4 0 0 F in a n cial S e rv ice s B u ild in g , 5 0 8 T e n t h S treet


Northwestern Banker, June, 1983
Federal Reserve Bank of St. Louis

D e s M o in e s , Iow a 5 0 3 0 8


Our portfolio of employee
insurance plans is nothing new to
78% of Iowa’s banks. fouVe been
working with it for years
But to prospective
employees, an IBIS benefit
package can make any job
offer more lucrative.
W e offer many
health plans to
bank employees,
directors and retirees'
Providing medical,
hospital, surgical and
prescription drug coverages
for employees and families.
A nd three dental programs
with coverage for
check-ups, teeth cleaning,
restorative work, dentures
and orthodontia.
There’s also group life
insurance coverage of up to
$250,000 guaranteed.
W ith options to purchase up to
an additional $100,000 at low
group rates.
As well as individual
; life insurance, both term
and permanent, to meet
individual needs.
A nd two different plans for
adding family coverage.

Plus low cost, high limit
24-hour-per-day travel
and accident
coverage for
officers, directors,
employees and/or their
Disability? Our portfolio
includes a variety o f short and
long term plans to
provide replacement
income should disability occur
A nd IBIS Retired Lifes
Reserve to help make
getting off the ladder
of success easier than
climbing up.
A ll designed
by Iowa Bankers,only
for Iowa bankers. A t rates
you don’t have to be
a banker to like.
Allowing us to
tailor a benefit package to your
bank that will be hard for a
prospective employee
to turn down.
A nd even harder
for a current employee
to walk away from.
Intrigued? Call Margie
Schaefer or Millie Uding toll-free
today. A t 1-800-532-1423.

4 0 0 F in a n cial S e rv ice s B u ild in g , 508 T e n t h S treet
D e s M o in e s , Io w a 5 0 3 0 8
Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983


Iowa News

OPENING the Iowa Independent Bankers recent seminar in Des Moines was a panel on “Mini and Micro Computers.” Shown at mike con­
vening the seminar is MB Pres. Don W. Heineking, pres., Security State, Hubbard. Participants, from left, were: Malcolm G. Risk, v.p.,
Farmers State, Independence; John W. Hess, sr. v.p., Decorah State, Decorah; Marlene Diddy, 1st v.p., 1st Natl., New Hampton, and panel
moderator, O.J. Tomson, pres., Citizens Natl., Forest City. At far right is the seminar chairman, David Taylor, pres., Iowa T&S, Centerville.

MB Sem inar Focuses on Com puter
Strategy and New Services for Mem bers
Editor and Publisher
100 senior
officers of independent com­
munity banks took part in a “ What’s
New for You?” seminar conducted
recently in Des Moines by the Iowa
Independent Bankers. The one-day
session covered products and ser­
vices that can be utilized by banks
in today’s changing financial scene,
as well as services the members
might develop through the I IB.
Welcoming the registrants was
IIB President Don W. Heineking,
president, Security State Bank,
Hubbard. Seminar chairman was
David Taylor, president, Iowa Trust
and Savings Bank, Centerville.
Computer Panel
Opening the seminar was a
“ Bankers’ Symposium on Mini and
Microcomputers: How to Reach a
Decision — Implementation & Prac­
tical Application.” The four pan­
elists were O. Jay Tomson, presi­
dent, Citizens N ational Bank,
Charles City, who was moderator;
Marlene Diddy, first vice president,
First National Bank in New Hamp­
ton; Malcolm G. Risk, vice presi­
dent, Farmers State Bank, Indepen­
dence, and John W. Hess, senior
vice president, Decorah State Bank,
Marlene Diddy, who has a degree
in computer science, has worked
with an IBM-34 mini computer for


p p r o x im a t e l y

Banker, June, 1983
Federal Reserve Bank of St. Louis

several years at First National,
which has $45 million deposits. As
guidelines to assist those consider­
ing the purchase of a micro or mini
computer, she presented a series of
incisive questions the banker should
answer before making a decision.
These encompassed questions about
hardware, software, usage, person­
nel, conversion considerations, and
continuing updating and mainten­
John Hess said a decision to go inhouse with a computer at his bank
was to keep the work in-house be­
cause of the feeling of independence
and greater control it affords.
“ A lso,” he said, “ one big value is
the capability of advance decision­
making through exploring ‘what if’
situations. Mr. Hess cautioned his
audience to determine whether the
software supplier has solid, skilled
people, whether they will still be in
business next year and can udpate
your system, whether they are in­
novative. “ There are a lot of ques­
tions you must ask yourself,” Mr.
Hess stated, “ and then you must
ask yourself a final question—‘do I
want to leave the security and com­
fort of my correspondent’s womb?’
It’s very comforting to put all your
records in a box at 4:00 p.m. and
ship it off to someone else to do it.”
He stressed again the overriding im­
portance of the capabilities of the
software supplier as opposed to the
type of hardware purchased.

Malcolm Risk brought a degree in
electrical engineering and exper­
ience with Collins Radio of Cedar
Rapids to his banking duties. Described by Mr. Tomson as “ a fore­
runner in in-house processing,” Mr.
Risk built his own software pro­
grams. That started in 1976 when he
could not find any small bank software. “ Our beginning criteria have
changed as the times have changed,”
Mr. Risk noted, and cautioned that
that should be a constant concern
for those charged with computer
He started with one computer
from Digital Corp., the largest
maker of mini’s and the second
largest seller of computers. He now
has three mini’s, not connected, but
with software written so that each
can be divided into three smaller
tasks. His bank recently purchased
two Apples—one in the Lamont office, one at the main bank, and they
have just begun using word process­
ing. Lamont also uses its Apple for
the insurance agency.
Looking at a decision as to
whether to move in-house today, Mr.
Risk said, the desire to be indepen­
dent is probably the main criterion,
but this must be offset with the comfort of farming out the work. Also, a
bank choosing to go in-house must
have a commitment from top man­
agement. When faced with an array
of good hardware, your most important control should be the software.
“ Machines break down,” he cautioned,
“ so make sure you have good main­
tenance behind it. We developed our
system in connection with the
Rowley Savings Bank, just 10 miles










Iowa News


Ida County State Bank Hosts Open House

IDA County State Bank, Ida Grove, recently hosted an open house in its newly remodeled facility. Around 2,000 people visited the bank to
see the results of the two-phase project. Phase I consisted of converting the empty basement into a new bookkeeping area (shown top
left). Phase II Involved the work on the main floor, made possible by moving the bookkeeping to the lower level. Shown in the picture on the
right Is the finished lobby area with new furniture. Nine private offices were made available for customer service as a result of the remodeling.

away. We have an agreement that if
one bank’s computer goes down,
that bank can use the other bank’s
equipment while the maintenance
man is on the way and doing the
repairs.” He also stressed the impor­
tance of bringing employees into the
decision-making process. He has
also made a link-up between the
micro’s and the mainframe com­
Panel Summary
In his summary, Mr. Tomson
reviewed the considerations of an inhouse computer: price, software,
hardware, productivity improve­
ment, and payment system partici­
pation. He cited the cost of his
IBM-34 system as $150,000 four
years ago. “ We figured to write it off
in five years,” he said, “ so divided
that by 60 months to get $2,500 a
month. We doubled that figure to
$5,000 to account for capital tied up,
supplies, maintenance and related
costs. This is my rule of thumb. We
were paying off-premise costs of
$5,000 a month, so we plateaued our
costs, plus achieving greater flex­
ibility. Somehwhere down the line,
perhaps two years, we will have a
cost saving.”
Mr. Tomson referred to “ the pain
of conversion” and suggested bank­
ers look at used equipment, some of
which is good as new. He placed his
$150,000 cost as $110,000 for hard­
ware and $40,000 for software. He is
a strong believer in purchased soft­
ware because of the cost saving fac­
tor, as well as the speed with which
software firms develop new, usable
packages that are tested. He said his
Federal Reserve Bank of St. Louis

equipment was only down once in
four years.
The panel concluded with a lively
question and answer session.
Two officers of the Federal
Reserve Bank of Chicago reviewed
“ Services Now Offered by The
Federal Reserve Bank.”
Allen Wolkey, vice president,
went through the steps taken by the
Fed to comply with the mandate of
the Monetary Control A ct of 1980 to
open Fed services to all financial in­
stitutions and to price those ser­
vices, plus a 16% private sector ad­
justment. He said, “ Our January,
February and March production
cost was covered by our revenue.
The 16% adjustment was not fully
covered, but we expect all this to be
covered by the end of 1983. We ex­
pect to cover 40% of the ACH cost,
plus the 16% factor, this year.”

G. Wayne Tilman, v.p. & dir. of mktg. for
Federated Cash Management Systems,
Pittsburgh, presented details of his firm’s
in-house discount brokerage services for
community banks.

Mr. Wolkey said Fed check vol­
ume since pricing had declined ap­
proximately 12%, “ due to reemer­
gence of local clearing house and ex­
pansion of some, plus some decline
in check writing itself. W e’ve also
noted a greater exchange of checks
between large processors—for exam­
ple, Des Moines and Sioux City. We
think all these lead to greater efficiences in the system.”
Bill Stratton used a slide presen­
tation to display the Chicago Fed’s
“ Customerized Services.” He said
the Fed was to begin in April pro­
viding a much more detailed month­
ly statement to banks, one that will
be much more easily reconciled.
Cash Management Services
G. Wayne Tilman, vice president
and director of marketing for Fed­
erated Cash Management Systems,
Pittsburgh, Pa., headed a three-man
team from that firm that outlined
“ In-House Discount Brokerage Ser­
vices, Cash Management & Sweep
Accounts.” As a career banker who
recently joined Federated, Mr. Til­
man said, “ The only thing to do to­
day is look ahead to opportunities
and possibilities, instead of the
negative things that are happen­
ing.” He reminded his audience that
“ banks have the brick and mortar;
you are here; you have the trust and
confidence of the local community.
We think Federated services can
help keep you in the winner’s circle.”
Mr. Tilman and his associates
went through the services offered to
community banks by Federated, the
fees charged, the pass-through
charges bankers can make to their
Northwestern Banker, June, 1983


Iowa News

Tipton Remodeling to Begin Soon

REMODELING is scheduled to begin soon at the First Natl. Bk. of Tipton, according to
Donald Young, pres. The architectural and interior design work, which was done by Kirk
Gross Company of Waterloo, will tie the entire building design together. The exterior work
will include a new front entrance and a night deposit in the vestibule. A new teller counter
with a customer sit down station will be part of the interior remodeling, which will create
more work space for tellers and provide additional customer services. The overall interior
color scheme will be tied to the counter design.

customers for providing these new,
convenient services and the result­
ing margin of profit for the banks.
One of these specific products is the
D epositors’ Discount Brokerage
Service, which can be contracted for
with Federated in any one of three
retail modes to fit the bank size,
each of them offering potentially
greater service fees. A direct 800
number, micro hardware and soft­
ware are combined to give the com­
munity bank a viable competitive
approach to incursions being made
by brokerage firms into the banking
business. They assured the audience
that the bank’s customer list re­
mains transparent to the transac­
tion in most cases and, in any case,
is never divulged for any other pur­
Closing Session
A “ Personal Financial Planning”
overview was given by two McGladrey Hendrickson & Co. partners
from the Des Moines office—Bruce
Cahill and Mitchell Morlan. In their
one hour presentation they gave
highlights of key elements of the
subject, and reviewed material that
normally would be covered in a full
two-day seminar.
After IIB Executive Vice Presi­
dent Richard Berglund gave his
“ Legislative Update,” a wrapup
report was given by seminar chair­
man David Taylor. He listed some of
the projects being undertaken by
IIB for the benefit of members. One
is the “ Buy and Sell” assistance to
member banks, as announced ear­
lier. A committee is continuing to in­
vestigate the possibility of IIB set­
ting up a Joint Purchasing capa­

Northwestern Banker, June, 1983
Federal Reserve Bank of St. Louis

bility to aid members in purchasing
their equipment and supplies in
larger quantities to achieve cost sav­
ings. Other programs currently be­
ing investigated, Mr. Taylor said, in­
volve seeking a broker to get low
cost financing of bank stock, and the
possibility of financing bank stock
loans through the organization.

Marion President Elected
Clair J. Lensing has been elected
president of Farmers State Bank,
Marion, according to Morris F.
Neighbor, president, who will ad­
vance to chairman of the board. Mr.
L e n s in g
been with the
bank since 1966
and prior to that
was a senior
bank examiner
with the Iowa
Department of
The Neighbor
family has been
associated with
FSB since 1945. Morris Neighbor
has served as president since 1968.
Gene R. Neighbor is vice president
and manager of the Alburnett office.
Douglas Neighbor is vice president



in charge of the consumer loan q
department. Kent Neighbor is a
member of the board of directors.
Newly elected to the board of
directors is Betty L. Neighbor.
Specific areas of responsibility ^
were assigned three officers: Eula
Wood, teller operations officer;
Allen D. Shedek, assistant vice
president and personnel officer, and
Johna McBurney, bookkeeping of- f
ficer and assistant cashier.

Promoted in Sioux City
Charles R. Mikkelsen has been
promoted to the position of trust of­
ficer at First Na­
tional Bank in
Sioux City, ac­
c o r d in g
Richard C. Tay­
lor, president.
Mr. Mikkelsen
joined First Na­
tional in 1981 as
a trust admini­
strator. Prior to C.R. MIKKELSEN
joining the bank,
he was an assistant professor of
business law at Illinois State Uni­
versity. He received his BS in bus­
iness administration, M A in eco­
nomics, and Juris Doctor degrees
from the University of Nebraska in

Cedar Falls Promotions Told
Midway Bank and Trust, Cedar
Falls, has announced the following
Darrell Wilken has been promoted
from vice president and cashier to
senior vice president. He has been
with Midway Bank for 15 years.
Doris Westemeier will be serving
Midway Bank in the position of as­
sistant vice president. She was pro­
moted from manager of consumer
loans and has been employed by the
bank 10 years.
Midway’s new assistant vice presi­
dent and cashier will be Mike Butler,
who has been promoted from operations officer. He has been at Midway
five years.
Jay Hall will be assuming the
duties of loan officer. He has been
promoted from consumer loan officer and joined the bank four years
Roberta Eller, who has been with
the bank four years, was promoted
to loan representative. She has been
serving Midway as loan secretary.







Iowa News

“ Invest In Yourself” Sem inar Held
INE hundred and fifty people
attended Security National
Bank’s Sixth Annual Financial Sem­
inar, “ Invest in Yourself,’’ that was
held April 7. The seminar was de­
signed to help people set and achieve
their personal, professional and
financial goals.
The first speaker at the seminar
was Mary Pekas, business consul­
tant, who spoke on goal-setting. She
distributed personal planning work­
sheets that explained how to set and
prioritize goals and monitor pro­
gress for achievement.
Next Fred Young, former Harris
Bank trust officer and self-made
millionaire, presented “ How To Get


Rich & Stay Rich.’ ’ He shared his
own practical and proven methods
to achieving wealth and financial
Dr. Joyce Brothers delivered the
keynote address “ Money and Emo­
tion.’ ’ She is a renowned psychol­
ogist with an expert’s perspective
on today’s economic and social
issues. Dr. Brothers addressed the
audience on how to prepare for,
recognize and take advantage of op­
portunities for success in a changing
Immediately following Dr. Broth­
ers’ address, the guests had an op­
portunity to enjoy the reception and
visit with the speakers.


signation by passing a series of ten
college level national examinations
on employee benefits subjects and
by meeting and attesting to high
standards of business and profes­
sional conduct. Registrants in the
CEBS program number over 13,000.

Council Bluffs Names Two
First National Bank, Council
Bluffs, has elected Lee H. Wicht
vice president of operations and pro­
moted Jerry Kelso to assistant vice
Prior to joining the bank, Mr.
Wicht served as vice president of
planning with Omaha National
Bank where he was employed for 10
Mr. Kelso has been a personal
banking officer with First National
since October, 1982. He has a degree
in business administration from
Southeast Missouri State University.

BAI Central Iowa Chapter
Elects New President

LEFT— Keynote speaker Dr. Joyce Brothers related several Interesting and timely facts to
her “ Money and Emotion” theme. RIGHT— Fred Young captivated the audience with
humorous anecdotes of his own financial career.

Ken Benda Honored By
Iowa State Ag Society
Kenneth J. Benda, chairman of
the Hartwick State Bank, was in­
ducted recently into Gamma Sigma
Delta, the Honor Society of Agri­
culture at Iowa
State Universi­
ty, Ames. He
was one of five
alumni inducted
during the re­
cent ceremonies.
M r.
B enda
was cited for
“ high scholar­
ship, outstand­
ing achievement
(and) service to agriculture science.
He is a 1940 Iowa State graduate,
majoring in forestry. After return­
ing in 1945 from W W II duty with
the U.S. Navy, he joined Hartwick
Federal Reserve Bank of St. Louis

State Bank, serving as its president
for a number of years.
Mr. Benda has been active in con­
servation and is a former member of
the Poweshiek County Conservation
Board. He served two terms in the
Iowa Senate and has served as a
member of the Iowa Commerce
Commission and the Governor’s
Committee on Outdoor Resources.

Sioux City Banker
Receives Designation
Richard L. Billings, assistant
trust officer and employee benefits
administrator for Toy National
Bank, Sioux City, has been desig­
nated a Certified Employee Benefit
Specialist by the International
Foundation of Employee Benefit
Plans and the Wharton School of the
University of Pennsylvania.
Mr. Billings qualifed for the de­

Timothy J. Byrnes, vice president
and cashier of Union State Bank of
Winterset, was
recently elected
president of the
C e n tra l Iow a
Chapter of Bank
Adm inistration
M r. B yrn es
previously has
served as secre­
tary, treasurer
and most recent­
ly vice president of the chapter,
which now serves over 75 individual
banks in the central part of the

Must have a minimum of 3 years commercial
lending experience preferably In a commercial
bank. Position requires a working knowledge
of State and Federal laws and regulations as
they relate to banking. Responsibilities will in­
clude originating, negotiating, servicing,
supervising, and collecting loans.
Excellent benefits and salary commensurate
with experience. All inquiries will be kept in
strict confidence.
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

An Equal Opportunity Employer

Northwestern Banker, June, 1983


Iowa News

C appiello Addresses UCB Bancshares

GUEST SPEAKER for the noon luncheon during the annual meeting of United Central Baneshares, Inc., in Des Moines recently was Frank Cappiello, noted panelist on Wall Street
Week T.V. program, author, professor and lecturer. He is pictured above, second from right,
with four UCB officers, from left: Simon W. Casady, chmn.; James B. Fogt, sr. v.p.; Kenneth
M. Myers, pres. & CEO, and Oliver H. Hagen, exec. v.p.

Webster City Bank
Promotes One, Ads Ag Rep
Bruce Greenfield, assistant vice
president of First State Bank in
Webster City, was promoted to vice
president. He was employed by the
Production Credit Association in
Boone before joining the First State
Bank in 1981.



Mark Noll will be joining the
bank’s staff on July 1 as an agri­
cultural representative. Mr. Noll, a
1979 graduate of Iowa State Univer­
sity with a BS degree in agricultural
education, has been serving as voca­
tional agriculture instructor and
FFA advisor in the Webster City
Community Schools the last fourand-a-half years.

Peat, Marwick Bank
Seminar Draws 240
Approximately 240 persons at­
tended the Sixth Annual Bank Sem­
inar sponsored by Peat, Marwick,
Mitchell & Co.’s Des Moines office
last month at the Marriott Hotel in

Banker, June, 1983
Federal Reserve Bank of St. Louis

Des Moines. The majority of the reg­
istrants were bankers from across
The luncheon speaker was Mrs.
Mary Garst, manager of the cattle
division of The Garst Company in
Coon Rapids, who is also on the
board of directors of the Federal
Reserve Bank of Chicago. Mrs.
Garst gave a quick review of Federal
Reserve history to show that the
conflict between “ hard” money and
“ soft” money advocates that has
prevailed since 1787 has still not
been resolved.
She said a principal function of
the regional bank board members is
to provide input to the bank presi­
dent, who serves in rotating order on
the “ heart of the Fed System—the
Open Market Committee.” The in­
formation that she can bring from a
farmer’s viewpoint provides valu­
able data for the president when he
serves on that committee, she
stated. She cited as an example the
PIK program, noting that she was
able to give first-hand comments
from a number of farmers that were
favorable to initiating PIK.
She said the Fed’s effort since Oc­
tober, 1979, to control inflation by
controlling monetary aggregates
has done well, but the price has been
high. “ It has had a devastating ef­
fect on agriculture,” she noted.
Since agriculture in the 7th Fed area
is key to so many businesses, from
steel for farm equipment to local

seed sales, then as agriculture goes,
so goes the 7th Fed economy.
The afternoon program was de­
voted to investment strategies,
TEFRA amendments and effect on
banks, microcomputer applications
for banks, regulatory and financial
reporting developments, and bank
holding company update.
It was also announced that Ar­
nold Golieb, managing partner of
Peat, Marwick’s Des Moines office,
will be moving July 1 to Los Ange­
les to become partner in charge of
the firm’s tax department there. It
is Peat, Marwick’s third largest tax
office, with a staff of 150 persons.
He will be succeeded in Des Moines
as managing partner by Johnny

Joins Oskaloosa Bank
Lynn Howard has joined the Ma­
haska State Bank, Oskaloosa, as
head o f th e
fin a n cia l co n ­
sulting division.
This new depart­
ment will pro­
vide comprehen­
sive fin a n cia l
p la n n in g s e r­
vices for all bank
Before joining
Mahaska State
Bank, Ms. Howard worked three
years for Investors Diversified Ser­
vices as zone manager for Mahaska

Osceola Bank Promotes One
The Clarke County State Bank of
Osceola recently announced the pro­
motion of Jeff Raines to assistant
vice president. Mr. Raines has been
with the bank since May, 1979.

CBCT Branches Approved
The Comptroller of the Currency
recently approved the application
for First National Bank Clinton to
establish a CBCT branch at 1307
North Second Street, and First Na­
tional Bank of Ottumwa to establish
one at 1001 Pennsylvania Ave.

Iowa News

Bank Custom er Rewarded


Joins ocheyedan Bank
Richard J. Blahauvietz has joined
the staff of Ocheyedan Savings
Bank as an ag loan representative.
Mr. Blahauvietz is a graduate of
Iowa State University with a BS
degree in agricultural business. He
previously was with the Ciba-Geigy
Corporation as a sales represen­

Sioux City Director Elected

James M. Earley, president of Hawkeye Bank & Trust Company of Des Moines, presents
Gerald Wynn with a plaque in recognition of his role in the capture of two robbery
suspects. Mrs. Wynn was presented with a dozen roses from the bank. Mr. Wynn was in the
bank seeking a car loan when the robbery occurred. He followed the suspect into a nearby
parking lot where the suspect jumped in the trunk of a car. Mr. Wynn noticed a key in the
trunk which he removed and gave to the police when they arrived. (An open and shut case?)
Mr. Wynn also pointed out a second suspect who apparently took part in the robbery and
he was also taken into custody. In addition to the plaque, the bank rewarded Mr. Wynn with
the auto loan he was seeking interest free.

Cedar Rapids Elects Officers
Merchants National Bank, Cedar
Rapids, recently announced the pro­
motion of Steven L. Caves to assis­
tant vice president. He previously
was a commercial loan officer.
Also announced were the elec­
t io n s o f th e
following people
to officer status:
Michael H. Kell,
electronic bank­
ing; Carol R.
M efferd, inter­
national bank­
ing; Patricia Von
Ahsen, consumer lending, and “ f r CAVES
Beverly S. Wis-


Security National Corporation,
Sioux City, has elected William T.
Dible, president and chief executive
officer of Terra Chemicals Interna­
tional, Inc., to the bank’s board of

Joins Mt. Pleasant Bank

Donald F. Carmody, president of
Hawkeye Bank & Trust, Mt. Plea­
sant, has announced that Dennis
Giancola has joined the bank’s staff
as assistant vice president.
gerhof, check processing.
Mr. Giancola, a graduate of the
Elected to the board of directors University of Northern Iowa, began
were: Joseph Hladky, III, president working in the instalment loan
of the Cedar Rapids Gazette, and department of Hawkeye-Capital,
Henry Royer, president and chief ex­ Des Moines, in July, 1979, and was
ecutive officer of Merchants Na­ promoted to manager of the bank’s
Pleasant Hill office in 1981.

Committed to
making your
bank stand
apart from the


19 Broaaway
* aterto0'

Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983

iaries of Hawkeye Bancorporation.
Primary emphasis will be on sales
and product knowledge training.
Mr. Remillard, 33, is a graduate of
Buena Vista College with graduate
work at the University of Northern
Iowa. He had been an educational
consultant with Battan, Batten,
Hudson and Swab, Inc., of Des
Moines. In addition has had exper­
ience in sales, teaching and coach­
* * *

Robert G. Millen, president and
chief executive officer of United
Central Bank of Des Moines, N.A.,
has announced
that James Eiler
has been named
senior vice presi­
dent - senior
lending officer.
Mr. Eiler will
have the respon­
sibility for direction
bank's commer­
ci al
group and management of the over­
all loan portfolio.
Mr. Eiler joined United Central
Bank in February, 1983, as vice
president and manager, loan admini­
stration division. Previously, Mr.
Eiler was president and chief ex­
ecutive officer of the First National
Bank of Colfax, where he had been
since 1980. Prior to that, he was vice
president in lending at University
Bank and Trust in Ames from 1978
to 1980, and was a correspondent
agricultural representative for the
First National Bank of St. Paul,
Minn., from 1976 to 1978.
Mr. Eiler is a graduate of Iowa
State University, where he received
a bachelor’s degree in agricultural
business and a masters of science
degree in agricultural economics. He
is also a graduate of the National
Commercial Lending School at Nor­
man, Okla., and currently is attend­
ing the A B A Stonier Graduate
School of Banking.
* * *
Brenton National Bank officially
opened its new headquarters in Cap­
ital Square last month, where it is
Banker, June, 1983
Federal Reserve Bank of St. Louis

located in the southeast corner on
skywalk level. The bank previously
was headquartered at 29th and Ingersoll, which will continue its full
service operation.
Brenton National joins its parent
company, Brenton Banks, Inc., which
opened a third floor office a month
* * *
Robert G. Mann, vice president of
Brenton National Bank, has been
named Banker Advocate for the
Small Business Administration’s
Des Moines District, according to
Conrad Lawlor, district director.
Mr. Mann has been an officer of
three different Des Moines Brenton
Banks and has headed various bank
functions including marketing, bus­
iness development, operations and
office administration. In these capa­
cities, he has shown leadership in
small business issues.
* * *
Kevin D. Remillard has been named
assistant vice president and director
of training for Hawkeye Bancorporation. The newly
created position
is part of the
new corporate
developm ent
division of the
company which
is responsible for
sales and mar­
keting for the
holding co m ­
The director of training will be
responsible for developing and coor­
dinating companywide training pro­
grams for the 35 banking subsid­

J. Locke Macomber, president of
Valley National Bank, has announced
Clutter has been
elected assistant
vice president,
M s. Clutter
previously had
been manager of
the proof/transit
department and
has been with
since October, 1982. She attended
Drake University.
* * ★
Pamela Stark has been named
managing officer of Hawkeye-Capi t al B a n k &
Trust’s Pleasant
Hill branch. She
replaces Dennis
Giancola, who
has been trans­
ferred to Hawkeye B a n k &
Trust in Mt.
M s.
began her bank­
ing career with Hawkeye-Capital in
1980, serving most recently as real
estate loan officer.

Hawkeye to Purchase
Tipton State Bank
Tipton State Bank stockholders
voted recently to accept an offer to
sell control of the bank to Hawkeye
Bancorporation, according to Paul
D. Dunlap, president of Hawkeye
Bancorporation. Terms of the pro­
posed acquisition, which is subject
to Federal Reserve Approval, were
not disclosed.
Tipton State Bank has assets of
$42 million and is located in the
county seat of Cedar County in
eastern Iowa.


United Central
Bank’s Personalized Dis­
count Brokerage Service
provides your bank with
an excellent new source
of fee-based incom e,
without expensive start­
up costs for equipment
or staff. And, unlike
many other discount
brokers, your bank
maintains primary con ­
tact with your custom er
...not some faceless 800
number hundreds of
miles away.

Your customers
may be able to save up
to 75% o f the com m is­
sions charged by fullservice brokers. UCB’s

personalized discount
brokerage service will
appeal to your high net
worth, high incom e cus­
tomers, giving you a
competitive advantage,
an expanded relation­
ship, and a profit base
that you can continue
to build on.

If you ’d like more
information about how
Personalized Discount
Brokerage Services can
work for you, contact a
UCB Correspondent
Banker at


Federal Reserve Bank of St. Louis

Northwestern Banker, June, 1983


Iowa News

Norwest Bank Des M oines Unveiled w ith Flair

AFTER the preliminary excitement of a press buildup, a staff dinner party to highlight the event, and a Continental Breakfast in the main
lobby to get things off to a running start on the day— May 2— it only took about five minutes for executive management of lowa-Des
Moines National Bank to officially change the corporate name to Norwest Bank Des Moines, N.A.—and they did it with a flair fitting such
an important occasion. Despite a brisk, cold wind, Pres. George F. Milligan (left); Chmn. & CEO Eugene G. Precht (center) and Des Moines
Mayor IPete Crivaro teamed up outside the main entrance to make the formal pronouncement to an assembly of business people and bank
staffers concerning the name change. At the conclusion of their brief remarks, the new name on the bank marquee was unveiled and
dozens of balloons were caught up in the high wind and swirled up and around the downtown high-rise buildings. All staff members were
guests of the bank the preceding night for a formal dinner at the Marriott Hotel. As a finale to that dinner, the lights dimmed, waiters
streamed into the room with champagne and everyone stood to drink a “farewell” toast to the lowa-Des Moines National Bank, then one to
the new Norwest Bank name. The name change involves putting into place the new Norwest name on every detached office and drive-in
facility in Des Moines for the bank, as well as on all affiliated Norwest banks in Iowa.

Norwest Region IV Open House

JUNE 1983
Acorn P rin tin g .....................................................................94
American National Bank & Tr. Co., St. P a u l.................... 39
Bankers Trust Company, Des M o in e s ............................... 78
Banks of Iowa Computer S e rv ic e s................................... 83
Brandt, Inc............................................................................. 5
Central States Health & Life Co., O m a h a ......................... 55
Daktronics, Inc.......................................................................28
Dawson Hail Insurance Co.................................................. 95
Deluxe Check Printers, Inc.............................................. 12-13
Drovers Bank of C h ic a g o .............................................. 10-11
F & M Marquette National Bank, M in n e a p o lis ........... 48-49
First Mid-America Inc., O m a h a ......................................... 70
First National Bank, G le n d iv e .......................................... 62
First National Bank, L in c o ln .............................................73
First National Bank, M in n e a p o lis...............................30, 63
First National Bank, O m a h a .............................................75
First National Bank, St. P a u l........................................36-37
Florida Software Services, Inc........................................... 3

BUSINESS and community leaders from around Iowa attended a recent Norwest Region IV
open house. The occasion marked the official opening of the Norwest Regional offices
located on the 12th floor of the Financial Center in Des Moines. Pictured above are George
While, gen. mgr., John Deere & Co., Des Moines; Steve Byrnes, v.p., and Harry Benson,
pres., Norwest Region IV, and W.C. Caldwell, budget dir., State of Iowa Board of Regents.
Norwest Region IV includes 11 banks and 24 other financial services located in Iowa.

Ag Rep Joins Edgewood Bank

Applications Approved

Timothy Brown, formerly em­
ployed at the State Bank of Pennock, Minn., has joined the Com­
munity Savings Bank, Edgewood,
as agriculture representative.

Lytton Savings Bank recently
received approval from the Comp­
troller of the Currency to convert
from a state to a national charter
and change the bank’s name to
American National Bank.
Also approved by the Comptroller
was the proposed purchase of the
assets and assumption of the lia­
bilities of Akron Savings Bank by
The First National Bank of Akron.



“Accepted Sale Registers by Bank
Clerks Everywhere"
For i n f o r m a t i o n w r i t e

Oakland, Iowa

Northwestern Banker, June, 1983
Federal Reserve Bank of St. Louis

Gross, Kirk Co., W a te rlo o ................................................... 18
IntraWest Bank of D e n v e r................................................. 57
Iowa Bankers Insurance & Services, Inc....................... 84-85
J.B.A., O m a h a ...................................................................... 15
Kooker, E.F. & A s s o c ia te s ..................................................90
Lincoln Benefit Life C om p a n y........................................... 74
Merchants National Bank, Cedar R a p id s ........................ 2
Microtech, Lincoln ..............................................................14
Monroe Business S y s te m s ............................................... 6-7
Mortgage Guaranty Insurance Corp.............................. 16-17
Mosler Safe C o m p a n y ....................................................... 9

Bank of Commerce, L in c o ln ............................... 77
Business C re d it....................................................41
Corporation, M in n e a p o lis................................... 96
L e a s in g ..................................................................43
Bank M id la n d ........................................................33
Bank M in n e a p o lis .........................................35, 60
Bank O m a h a ..........................................................66

Office Concepts, Ltd., W a te rlo o ....................................... 91
Packers National Bank, O m a h a ..........................................76
Sallie Mae ............................................................................ 27
Security Bank, N.A., B illin g s ............................................. 65
Travelers Express Co., Inc.................................................... 29
United Central Bank Des Moines, N.A................................ 93
United States Life Credit Insurance Co..............................25

We cut the
red tape.

We’re an insurance company that’s good for you as well
as your customers.
That’s because we’ve taken all the red tape out of hail
insurance. Paperwork won’t stack up on your desk, so
it won’t stack up on ours — and that means your
policyholders get faster, better service.
With more than 65 years’ experience, Dawson is a
respected, vital force in hail insurance. We’ve served
three generations of farmers with complete crop pro­
tection at competitive rates, backed up by what we feel
is the best personal service in the business.
And all without red tape.
Because we believe hail insurance
doesn’t have to be complicated.
Crop Hail Insurance from Dawson. It
couldn’t be easier.

P.O. Box 1820 • Fargo, ND 58107
In North Dakota

CALL TOLL FREE: 1- 800 - 437-4680
Federal Reserve Bank of St. Louis

1- 800 - 342-4848




■ f

<\ i i


W ereNorwest Corporation. You may
know us as a leading banking group in
the Upper Midwest with 86 banks in
seven states. Were that. A nd a whole
lot more. Were leasing. Corporate
finance. Bonds. Money market invest­
ments. Insurance. Ag lending. It a ll adds
up to an impressive range o f corporate
and retail financial services, under one
name. I t ’s the direction o f things to come.
I t ’s the place to look to right now. Norwest.

Norwest Agricultural Credit—financing for farmers and ranchers.
Norwest Leasing—equipment leasing to agriculture and all other industries.
Norwest Mortgage—providing mortgage money nationwide to finance residential and commercial buildings.
Norwest Financial Services—providing financing for consumers and small businesses through 460 offices in 38 states.
Norwest Capital Management & Trust Companies—estate and capital management for individuals and corporations.
Norwest Banks Minneapolis/International—customers of all Norwest banks have access to international markets through
cooperation with Norwest Bank, Minneapolis, which has operations in Mexico City, Luxembourg, the Bahamas, London,
Hong Kong, Miami and New York.
Norwest Business Credit—providing tailored revolving working capital credit and term financing programs secured by
inventory, accounts receivable and real estate.
Norwest Venture Capital—providing venture capital to growing small businesses.
Norwest Insurance—offers all types of insurance including life, property, casualty, auto, home owners and commercial.
Norwest Information Services—for all information processing needs.
. ,
. ,
Norwest Corporation
Our stock exchange symbol will remain NOB.
2200 Peavey Building, Minneapolis, MN 55479

M M k H

Federal Reserve Bank of St. Louis

Members FDIC