Full text of The Northwestern Banker : June 2, 1969, No. 1164

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Oldest Financial Journal Serving The Central and W estern States

June 2,1969

Des Moines, Iowa

No. 1164

Proposed Illinois Bank Study Defeated
The voice of opposition was
raised at the 78th annual conven­
tion of the Illinois Bankers A ssoci­
ation in Chicago last week as a
“ minority” slate of officers was
nominated in addition to the tradi­
tional candidates supported by the
Association’ s
nominating com­
mittee i
Myron Heins, president, Bank of
Pontiac, was elected IB A pres­
ident, following a secret ballot
taken among all registered member
banks at the convention. Mr. Heins
had served as Association vice
president and was nominated by
the Association’ s nominating com­
mittee; He succeeds Allen P.
Stults, president, American Nation­
al Bank & Trust Company, Chicago.
The “ minority” slate was made
up of Frank G. Price, president,
LaSalle National Bank, Chicago,
for president; Todd Ward, pres­
ident, Lincoln Trail State Bank,
Fairview Heights, for vice pres­
ident; Lewis J. Dunn, president,
Union National Bank, Chicago, for
second v ice president, and John
Cotton, president, Evanston Trust
and Savings Bank, for treasurer.
The group advocated a Blue Rib­
bon Study Commission to be cre­
ated under the auspices of the
state government which would
have as its responsibility the

Myron Heins

evaluation of the adequacy of the
present banking structure in Illi­
nois in terms of its ability to meet
the present and future financial
needs of the citizens of the state.
Mr. Price explained that his
candidacy in no way related to a
position with respect to unit bank­
ing, branch banking or group bank­
ing. Charles M. Shea, legal coun­
sel for the Beverly Bank, Beverly,
and Henry Seyfarth, chairman,
First National Bank, Blue Island,
were more outspoken in supporting
the minority ticket. It was evident
that Mssrs. Shea and Seyfarth
favored a change in Illinois law
restricting holding companies and
branch banking. Mr. Shea was for­
merly with James Saxon when he
served as Comptroller of the Cur­
rency.
In placing the opposition slate

L IN C O L N
M

in nomination, Ward Weaver, presi­
dent of the Schaumburg State Bank,
said the nominations were “ to call
attention to a minority viewpoint
that has been sadly overlooked.”
Allen P. Stults, president, Amer­
ican National Bank & Trust Com­
pany, Chicago, who served as IBA
president during the past year and
who presided at the 78th con­
vention
last week, said that
the
Illinois
banking structure
should be evaluated on the basis
of the health of the state’ s econo­
my, which he said ranks at the
top when compared with other
states. Another yardstick, he said,
is whether a community is better
served by local bank ownership
and management or by a bank
owned by a large corporation.
He said those who favor owner­
ship of a number of banks by a
corporation “ deplore centraliza­
tion in Washington, but say,
‘ Wouldn’ t it be great for the bank­
ing system in the state.’ ”
Under present Illinois law, there
is no branch banking in the state,
and any corporation which owns
one bank cannot own more than
15% of a second. Banking ‘groups’
in the state are accomplished thru
partnerships.
A complete report with pictures
of the 78th annual convention will
be featured in the June magazine
issue of the Northwestern Banker.

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Management

FIRST NATIONAL BANK & TRUST COMPANY OF LINCOLN
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In Northwest Iowa

MINNESOTA NEWS
DULUTH: Gunder Schwanz has been
promoted from cashier to vice pres­
ident at the Western National Bank of
Duluth, and Willard R. Maynard has
been promoted from assistant cashier
to cashier, succeeding Mr. Schwanz.

SECURITY
N A TIO N A L
BANK
SIOUX CITY, IOWA

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Waterloo. Iowa
IOWA NEWS
CORYDON: A fire, apparently started
by lightning, has burned out the
Corydon State Bank, but did not
damage vaults and records. Damages
have been estimated at $60,000 to
$75,000. Water damage also was
reported to the bank’ s new drive-in
addition being constructed at the
rear of the bank building. The bank
has set up temporary offices at the
Kaster Insurance Agency, according
to Lloyd Nelson, cashier. Bank busi­
ness w ill be conducted from the new
drive-in addition as soon as it is
completed.
DAVENPORT: Bankers’ Agency, Inc.,
has named J. William Miller of Omaha,
Nebr., as regional manager of its
recently opened office in Davenport.
Mr. Miller was district manager in
Omaha and Davenport for Commercial
Credit Corporation.

lending as it applies to installment
loans.
DUNLAP: Dwaine Hack has been
elected to the board of directors of
the Dunlap Savings Bank. Mr. Hack
is cashier at the bank and fills the
vacancy created by the recent death
of Dr. R. G. Moore.
MUSCATINE: Sidney D. Herzberg has
been e le cte d assistant vice president
and James V. Pulliam assistant cash ­
ier at the First National Bank of
Muscatine. Mr. Herzberg will continue
as manager of the installment loan
department and act as bank security
officer. Mr. Pulliam w ill continue as
loan officer and officer in charge of
advertising.
NEW HAMPTON: Lloyd D. Snyder has
been elected a director of the Security
State Bank, succeeding the late A. J.
Forkenbrock. Mr. Snyder is a partner
in the Blue Line Oil Company here.
NEWTON: Mrs. Bernadine R. Howell
has been named an assistant trust
officer at the Jasper County Savings
Bank. She has been with the bank
sin ce 1952.
OSCEOLA: Earl Curtis has joined
the Clarke County State Bank as vice
president and farm manager. He has
17 years of banking experience in
Oklahoma.

DES MOINES: The Installment Loans
Committee of the Iowa Bankers A s­
sociation will sponsor an all-day
meeting at the Hotel Fort Des Moines SPIRIT LAKE: James W. Rohlfsen has
here, beginning at 10 a.m ., Wednesday, been named installment loan officer
June 4, on the subject of truth-in­ at the State Bank of Spirit Lake.

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SUMNER: Leo P. Winks and Erwin W.
Heyer have retired from the board of
the First National Bank. The two men
had served on the board a combined
total of 73 years. Mr. Winks served as
board chairman for the past 13 years.

NATIONAL BANK
Member Federal Deposit Insurance Corporation

IVANHOE: The name of the First Na­
tional Bank will be changed, effective
July 1, to the First State Bank. There­
after, the bank will be operated under
a state charter.'
ST. CLOUD: The State Department of
Commerce has approved an amendment
authorizing change of the name of the
Plaza Park State Bank of St. Cloud
to the P laza Park State Bank. L oca ­
tion of the bank will be changed to
North Waite Avenue and Division in
Waite Park, Minn.
ST. PAUL: Bankers’ A gen cy,In c., has
announced the addition of Edward G.
Silbernagel of Grand Rapids, Mich., to
the company as vice president. He
will be in charge of marketing and
servicing the company’ s mobile home
financing program for banks and
savings and loan association s.
ST. PAUL: Joe Summers, executive
secretary of the Independent Bankers
of Minnesota, has been confined to
St. Paul Ramsey Hospital with pneu­
monia.
ST. PAUL: The 79th annual conven­
tion of the Minnesota Bankers A s s o c i­
ation w ill be held June 9—11 at the
St. Paul Hilton Hotel here.
WINDOM: Donald W. Doll, assistant
cashier at the First National Bank of
Windom, has died at Methodist H os­
pital in St. Louis Park. He was 46.

NORTH DAKOTA NEWS
BISMARCK: Mrs. Gloria B. Stewart,
wife of John P. Stewart, vice pres­
ident of the First National Bank, has
died in a loca l hospital at the age of
44. Mrs. Stewart had been ill for the
past nine years.

ENDERLIN: Wayne Kaspari has been
named vice president and director of
the P eoples and Enderlin State Bank,
replacing Dale Streyle as vice pres­
ident. Mr. Streyle has purchased stock

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First National Bank of Omaha

1«TH & FARM AM - OMAHA, NEBRASKA
Member Federal Deposit Insurance Corporation

in a bank at L eeds, N. D., and has
assumed a new post in the bank there.
Mr. Kaspari was formerly a partner in
an insurance agency in Lisbon.

been named assistant vice president
and Mrs. Mildred Aschenbrenner as­
sistant cashier at the First National
Bank.

TIOGA: G. C. Anderson, president of
the Bank of Tioga, has announced that
Ward F. Barden will retire July 15.
He will be replaced by Hiro French,
local businessman. Mr. Barden has
been with the bank since October,
1963.

LAGRANGE: Charles F. Kennedy,
Kent A. Ramm and Edmund J. Horstman have been named directors at the
First National Bank. Mr. Kennedy is
executive vice president at the bank.
Mr. Ramm is vice president and di­
rector of the E. L. Ramm Company,
and Mr. Horstman is president of the
La Grange TV and Organ Company.
Stockholders also have approved a
100% stock dividend at the bank.

SOUTH DAKOTA NEWS
RAPID CITY: The 1970 convention of
the South Dakota Bankers Association
is scheduled to be held here on
May 7—9 with headquarters at the
Holiday Inn.

ILLINOIS NEWS
CHICAGO: The board of directors of
the Northern Trust Company has an­
nounced the following new appoint­
ments and promotions. In the banking
department, Joaquin P. Viadero has
been named vice president in inter­
national banking; Lyle P. Campbell
has been promoted to second vice
president in the Illinois division of
the national group. John J. Beatty,
James L. Jurries, Marvin D. Swanson
and Harold J. Wiaduck have been
appointed assistant cashiers. Thomas
J. Halpin, David L. Hanson and J.
Timothy Ritchie have been named
attorneys in the bank’ s legal depart­
ment.
CHICAGO: Mrs. June R. Ritchie has
been promoted to trust officer at the
Beverly Bank. She has been with the
bank since 1959 and has been serving
as assistant trust officer since 1967Kenneth A. Glesner has been e le c ­
ted assistant loan officer.
CHICAGO: William E.Mason has been
promoted to assistant cashier and
commercial lending officer at the
Merchandise National Bank of Chi­
cago.
CHICAGO: Anthony M. Orzanda has
been promoted from assistant vice
president to cashier at the South
Central Bank. He joined the bank in
October, 1968, and was formerly a s­
sistant vice president at the Illinois
State Bank of Chicago.


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HINSDALE: Mrs. Dorothy Crossett has
Federal Reserve Bank of St. Louis

OAK FOREST: The FDIC has ap­
proved the application of the pro­
posed Interstate Bank of Oak Forest
for federal deposit insurance. Bank
president is Thomas Flickinger.
WHEATON: Marion G. Hocker, vice
president in charge of business de­
velopment at the Gary-Wheaton Bank,
has been named president. Robert F.
R iley has been named executive vice
president, and Robert A. Hesterman
has been appointed vice president
and cashier. J. Robert Effinger, pres­
ident of the bank for nearly four
years, is leaving to become pres­
ident of the Easterling Company in
Wheaton. Mr. Hocker joined the bank
staff in 196S and has served as a
director since 1965.

Robinson has been appointed a s s is ­
tant trust officer and Kenneth R.
Smith has been named assistant
auditor. Data processing officers
named include Ronald W. Adams,
Ralph L. Cumming, Stephen A. Hiller,
Robert J. H ollines, Jr., James M.
Idema, Jr., Lanny J. L osa sso and
Francis S. O lszew ski.

WYOMING NEWS
BASIN: James W. Core of Greybull
has been named to the board of the
Security State Bank, filling the va­
cancy created by the resignation of
Robert P. Eckerdt, now of Cheyenne.
Mr. Core is vice president of Core
Chevrolet of Greybull.
GUERNSEY: The Oregon Trail Bank
celebrated its 5th birthday with an
open house at the bank on May 16.

MONTANA NEWS
The following 1969—70 Group of­
ficers have been elected by members
of the Montana Bankers A ssociation.
Group I: President—R. R. Bartschi,
First National Bank, Cut Bank; vice
pres ident—Byron Kluth, First State
Bank, Shelby; secretary-treasurer —

COLORADO NEWS
DENVER: The First National Bank
of Denver has promoted two officers
and named 16 new officers. Promoted
from assistant cashiers to assistant
vice presidents were Richard A.
DeRusha and Verlyn E. Wolf. Named
assistant
cashiers were Michael
Barbich, Patricia J. Kenworthy, Mar­
vin W. Moeller, Ann L. Monroe, Don­
ald H. Rydstrom, Ethelda M. Thorne
and Isabelle M. Verretta. Coleman R.

Christy
Armstrong

Leo
Kane

Bob
Scott

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9TH AND MAIN, DUBUQUE, IOWA
MEMBER: FDIC • FRS

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M EM BER, M IDW EST STOCK EXCHANGE

412 Farm Credit Building, Omaha, Nebraska 68102
Phone 346-6677 (Area Code 402) Teletype 402 348-1040
Other Offices Located in

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Fred D. Cummings
Bernard D. Miller
Larry E. Makoben

DROVERS
N A T IO N A L B A N K
of C h ic a g o

pany, Helena; vice president —V. R.
Schlimgen, Montana Bank, Great F alls;
secretary-treasurer —Lyle Olson, Com­
merce Bank and Trust Company,
Helena.
Group VI: President—Robert G. Hen­
ry, First Metals Bank and Trust Com­
pany, Butte; v ice president—Robert J.
Harrison, State Bank and Trust Com­
pany, Dillon; secretary-treasurer—Ted
J. Darby, Bank of Sheridan, Sheridan.
Group VII: President—Stan ley R. Reg ele, First National Park Bank, L iv ­
ingston; vice president—Barry M. Ed­
ward, First National Bank, Hysham;
secretary-treasurer—Ray G. Spanier,
Security Trust and Savings Bank,
B illings.

NATIONAL NEWS

Phon« ( 312) 927-7000

Bruce Miller, Blaine Bank of Montana,
Chinook.
Group II: President —Fred Winter,
Garfield County Bank, Jordan; vice
president —Roland Quade, First Na­
tional Bank, Ekalaka; secretary-treas­
urer —Henry L illejord, First Security
Bank, Glendive.
Group III: President — Zane G. Murfitt, Flint Creek Valley Bank, Philipsburg; vice president —Donald L. Scothorn, First State Bank, Stevensville;
secretary-treasurer —Jack
Hensley,
Valley Bank, K alispell.
Group IV: President —M. H. Arndt,
Western National Bank, Wolf Point;
vice president —L. D. Grobel, First
National Bank, Glasgow; secretarytreasurer —Don Wallander, First State
Bank, Froid.
Group V: President—HaroldOrmseth,
First National Bank and Trust Com­

CENTRAL

NATIONAL

KANSAS CITY, MO.: Mrs. LeonaH offman Park has been promoted to as­
sistant v ice president at the City
National Bank and Trust Company.
She joined the bank early in 1968 and
has been appointed manager of the
savings department.

BANK

NEW YORK: Emmett D riscoll, Gordon
I. Morison and Wilbur G. Thompson
have been named vice presidents at
the Bank of New York. Mr. D riscoll
joined the bank in 1959 and is in the
corporate agencies division. Mr. Mori­
son came to the bank in 1952 and Mr.
Thompson in 1935- Both men are in
the comptroller’ s division.
PHOENIX: Two new vice presidents
have been elected at the Valley Na­
tional Bank of Arizona. They are
D. E. Cruikshank of the metropolitan
division and Raymond D. G lasscock

AND

TRUST

Member Federal Deposit In su ra n ce Corporation

COMPANY

of the home office commercial loans
department.
POINT CLEAR, A L A .: The Fourth
Assembly for Bank Directors, an
educational arm of the Southwestern
Graduate School of Banking, Southern
Methodist University, Dallas, T ex .,
will meet June 22—25 at the Grant
Hotel here.
SAN FRANCISCO: Dean Witter, who
founded the nationwide stock broker­
age firm bearing his name, died
May 25, following a heart attack.
He was 81. Mr. Witter stepped down
from top management in the company
three years ago.

LATE NEWS
WEST BRANCH, IA.: Directors and
employees of the First State Bank
will hold open house Sunday, June 8,
from 2 to 5 p.m. in the Fellowship
Hall of United Methodist Church here
to honor L. C. Rummells, executive
vice president, for his 50 years of
service in the bank.

WANT ADS
Rates 25 cents per word per
insertion.
Minimum:
12 words.
NORTHWESTERN BANKER
306 15th S t., Des Moines, Iowa

WANTED
Vault Door —at least 3 y2 inches thick.
Send price, photo and date available
to —Community Bank, Colton, South
Dakota 57018.
ADVERTISING HELPS
For the agricultural banker —ads,
mats, editorials and newsletters that
sell full service banking to farmers.
Samples available — Farm Business
Council, Inc., P. O. Box F, Urbana,
Illinois 61801.
INCREASE 1969 PROFITS
Cy Kirk and Max Roy, v ice presidents
of LaSalle National Bank, Chicago,
are prepared to a ssist you and your
bank in planning increased profits
for 1969. Whether it is an analysis of
your bond portfolio or a cost study
of your general banking services,
LaSalle National Bank has the fa c il­
ities to serve your every need. Call
Cy or Max today at (Area Code 312)
782—5200 for immediate action.

No. 1164 Northwestern Banker is published five times monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des


Moines,
Iowa 50309. Subscriptions 50tf per copy, $6 per year. Second c la ss postage paid at Des Moines, Iowa. Address all mail
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