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Des Moines, Iowa

Vol. 15 No. 7

Minnesota, Iowa Ag Mediation Laws
Monitored By Other Midwest States
LL STATES throughout the
midwest agricultural belt will
be monitoring closely the Manda­
tory Mediation laws enacted in re­
cent weeks by the Minnesota and
Iowa legislatures in their efforts to
provide some relief for ag borrowers
in the current farm crisis. If the new
law works the way backers hope it
will in either or both states, and it
survives potential court tests, it is
possible that identical legislation
will be introduced in surrounding
states.
Bankers opposed the bill in both
states. Many legislators, especially
in Minnesota, made it plain their in­
tentions were aimed at the Farm
Credit System, which many feel has
caused a great share of farmers’
woes. In going after the FCS, how­
ever, they included banks in the
“ lender” language, so commercial
banks are saddled with yet another
legal process before they can even
begin normal enforcement of debt
where it might be warranted.
In Iowa, banker lobbyists were
able to persuade legislators to back
off from an initial cumbersome plan
that would have tied up banks about
six months in the mediation process.
The final bill reduces that process to
42 to 45 days.

A

In Minnesota, however, continu­
ing layers of time frames were voted
into the final bill so that, as enacted,
it grants a potential delay of up to
124 days. That delay could be ex­
tended another 240 days to a total of
364 days if the mediator and court
feels a creditor has acted in bad
faith. It could be 434 days for a U.S.
agency.
Here is a brief summary of the
mediation process as mandated now
by Iowa and Minnesota laws, and as
explained by the Iowa Bankers As­
sociation and Minnesota Bankers
Association to members:
Iowa
Mediation will be mandatory
where a creditor desires to initiate
actions to enforce the debt on agri­
cultural property.
• 1st Period—Within 21 days, the farmer/
creditor mediation service shall send notice
to all parties involved, setting a time and
place for an initial mediation meeting.
Total — 21 days
• 2nd Period—Mediation session can run
up to 42 days after the mediation request is
received. If agreement is reached, mediator
drafts an agreement which constitutes a
mediation release. If borrower waives media­
tion, or if agreement is not reached, mediator
will sign the statement which constitutes
mediation release.
Total = 42 days
• 3rd Period—Notice to cure must have a
45-day waiting period, which runs concur-

June 2,1986

rently with the maximum 42 days of the
mediation process.
Total = 45 days

Compliance details pertaining to
the mediation process and other new
Iowa farm legislation will be covered
in a special teleconference beamed to
seven Iowa locations June 18 (see
“ Iowa News” ).
Minnesota
The Farmer-Lender Mediation
Act requires that, before enforcing
an ag debt of $5,000 or more, the
creditor must give a statutorily
prescribed notice to the debtor of
the debtor’s right to mediation.
• 1st Period—After receiving Notice of
Right to Mediate, debtor has 14 days in
which to file the request form with thé direc­
tor of the agricultural extension service or
designee. This form must state all known
creditors. It stops any collection proceedings
in progress for 90 days. If no mediation form
is filed, no mediation required.
Total = 14 days
• 2nd Period—Within 10 days after receiv­
ing Request to Mediate, director must send a
Notice of First Meeting to the debtor and all
known creditors. The first mediation meeting
must be held within 20 days of the Notice of
First Meeting.
Total = 44 days
• 3rd Period—The mediation period may
last as long as 60 days from the date of the
first meeting. If agreement is reached, media­
tor prepares a written draft which all credi­
tors sign and, if applicable, submit it to the
Minnesota Rural Finance Administration for
participation in the state’s new debt restruc­
turing program which may be available later
this year.
Total = 104 days
• 4th Period—Any notified creditor who
does not object to the agreement is bound by

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2

it. After agreement is reached, mediator
must notify all creditors who have filed claim
forms and they may file objections within 10
days. The mediator has 10 days to meet with
debtor and creditors to attempt to work out a
new agreement.
Total = 124 days
• 5th Period—If mediator files an affidavit
with the director and the parties that a credi­
tor did not mediate in good faith, and the
debtor requests court supervised mediation,
the court must require further mediation for
up to 60 days.
Total = 184 days
• 6th Period—If the court finds a creditor
(apparently any one of the creditors) did not
participate in mediation in good faith during
the above 60-day penalty period, the court
can further suspend the creditors’ remedies
for an additional period of 180 days.
Total = 364 days

Following the 180-day penalty
period, all parties may exercise their
rights with respect to existing obli­
gations without obtaining any addi­
tional order or permission from the
mediator or court. The MBA has
held meetings to explain details of
the mediation process to members,
and is also working to get the
legislation revoked or revised.
□

Iowa News
The IBA will hold two meetings
June 18 at seven locations in the
state. The morning meeting will
cover compliance with new regula­

tory and legislative requirements.
The afternoon session will be a fol­
lowup to an earlier statewide FmHA
conference.
The Regulatory/Legislative Re­
view will be a teleconference meet­
ing. Registration is at 8:30 a.m. and
the program will commence at 9:00
a.m. sharp. The program will run un­
til noon. Speakers will be Charles E.
Thacker, regional director, and
Steve Scholzen, assistant regional
director, from the FDIC Kansas
City regional office; William R. Bernau, Iowa superintendent of bank­
ing, and Wes Ehrecke, IBA vice
president for government relations,
and a representative from the Davis
law firm (general counsel and legisla­
tive counsel for IBA).
They will speak from a broadcast
studio at WOI-TV on the ISU cam­
pus in Ames. Participants at the
seven locations will be able to ask
questions by telephone. The seven
sites are:
Kirkwood Community College,
Cedar Rapids; North Iowa Area
Community College, Mason City;
Des Moines Area Community Col­
lege, Ankeny; Indian Hills Commu­
nity College, Ottumwa; Iowa West­

There j s A Difference
In Banks...
For Professional
Correspondent Service
Call 1-800-622-7262
H. PETER De ROSIER
Vice President

Valley National Bank
Main Office-Sixth and Walnut
DES MOINES, IOWA 50304

A BANKS OF IOWA BANK
Member FDIC

BAN K LOAN M ANAGEM ENT, INC.
CONSULTANT TO BANKERS

773 SPRUCE STREET, P.O. BOX 159, OCHEYEDAN, IOWA 51354

PHONE 712/758-3660
Loan Review and Credit Adm inistration • Profit Planning

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Federal Reserve Bank of St. Louis

ern Community College, Council
Bluffs; Buena Vista College (Siebens
Forum), Storm Lake, and Holiday
Inn Civic Center, Waterloo.
The fee is $45 in advance, $50 at
the door for this session.
The afternoon session has no
charge and runs from 1-4 p.m. in the
same locations as above. This meet­
ing is not by satellite, but will be in­
dividual meetings at each location
with bankers, Farmers Home Administration district directors and
their county directors. This is a fol­
low-up meeting, as earlier an­
nounced, to the special banker/
FmHA meeting held in May in Iowa
with FmHA Director Vance Clark.
Mr. Ehrecke said the purpose of this
meeting is to hopefully have a repre­
sentative from each bank on hand to
“ continue the dialogue initiated by
the IBA with Vance Clark and Bob
Pirn, FmHA state director. These
meetings should cover procedures to
improve uniformity among all coun­
ty directors and bankers.”
* * *
ITS Representative Training
Seminars are scheduled between
June 10 and July 16 at five Iowa
locations. The seminars are designed
to acquaint bank employees with
how ITS operates, the rules and
guidelines of the system, updates on
services and marketing tips. The
seminars begin at 9:00 a.m. and con­
tinue until 3:00 p.m. Cost is $30 per
person and $25 for each additional
registrant. Lunch is included. Dates
and locations are: June 10—Stouffer
Hotel, Cedar Rapids; June 17—Holi­
day Inn, Sioux City; June 25—Holi­
day Inn Brady Street, Davenport;
July 9—Holiday Inn, Cedar Falls,
and July 16—Hotel Fort Des
Moines, Des Moines. To register
write ITS, Inc., Financial Services
Building, 508 10th St., Suite 200,
Des Moines, IA 50309-2680, Attn:
Representative Seminars.
* * *
The Iowa Bankers Association is
making available hats, visors and
tote bags imprinted with the slogan
“ Iowa banks on Iowa Banks” for
use at the Farm Progress Show or
other local events as giveaways. At
no extra cost, your city name can be
printed in place of the first “ Iowa”
in the slogan. Maximum prices are
$1.95 for hats, $2.70 for cloth visors,
$3.50 for tote bags and $.60 for plas­
tic visors, with discounts given for
large quantity orders. Orders must
be received by June 18.

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IOWA BANKERS
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435 Kansas Avenue P.O. Box 1654
Topeka, Kansas 66601
1-913-234-2631

Serving bankers for more than 75 years

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Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 6-2-86


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Federal Reserve Bank of St. Louis

BankiniygÌ!

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THE BANKING COMPANY REPORT
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Call on the “Experienced Professionals”
^F irs T ie rB a n k

Ready to meet your
correspondent needs.
Nebraska News
NORTH PLATTE: Four officers
have been promoted at North Platte
National Bank. William Giesler was
advanced to executive vice presi­
dent and senior loan officer. He has
been with the bank four years.
Charles Sandman, who has been an
assistant vice president and loan of­
ficer, was promoted to vice presi­
dent and commercial loan officer. He
joined the bank five years ago. Mar­
cia Shanahan was appointed assis­
tant vice president and a commer­
cial loan officer, and will serve as
head loan administrator. Formerly
credit analyst, she has served the
bank for two and one-half years.
Serving as vice president and head
ag officer will be Roger Wark, who
recently came to North Platte Na­
tional from First National Bank and
Trust in Kearney. In addition to the
promotions, the bank has an­
nounced Samuel H. Gillette, execu­
tive vice president and secretary of
the board, retired June 1 after serv­
ing 17 years at North Platte Na­
tional.
OMAHA: Evelyn Schafer has been
promoted to vice president/internal
auditor at Douglas County Bank
and Trust Company. She joined the
bank in 1960 and most recently
served as vice president of opera­
tions.

Minnesota News
M IN N E A P O L IS : C hristopher
Smith and Jeanne M. Voigt have
been promoted to vice president by
First Banks. Mr. Smith, promoted
to vice president in the FBS Capital
Markets Group, joined the bank in
1980 and had been assistant vice
president in money market trading/
sales. Ms. Voigt, promoted in FBS
Capital Markets Group Operations,
joined the bank in 1980 and had
been assistant vice president in
capital markets and treasury group
operations administration.
MINNEAPOLIS: John R. Fox has
been named to the Trust Services

Group
of Marquette Bank Minneahttps://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Lincoln
13th & M Streets, Lincoln, Nebraska 68501

polis as a vice president of trust
branch services. Prior to joining the
bank, he was vice president and se­
nior trust officer at Fidelity Bank
Northeast in Minneapolis.
WORTHINGTON: Norwest Bank
Worthington has appointed Steven
C. Hull senior vice president in
charge of credit administration. He
previously served as vice president
and manager of Norwest Agricul­
tural Credit, Inc. in Spencer, Iowa.

Illinois News
CHICAGO: Joan M. Bassak has
been named vice president, commer­
cial real estate for Affiliated Banc
Group. Previously Ms. Bassak was
assistant vice president, loan clos­
ing department, for Horizon Federal
Savings, Evanston.

FirsTier Bank, N.A., Lincoln, Member FDIC

Colorado News
DENVER: United Banks of Colo­
rado, Inc. has completed negotia­
tions to acquire American National
Bank of Aurora. Terms of the pur­
chase have not been released. The
acquisition is contingent on appro­
val by the Federal Reserve. Ameri­
can National has assets of $7.2 mil­
lion.
DENVER: Richard M. Johnson has
been elected vice president and as­
sistant manager of Lincoln Agency,
a wholly-owned insurance subsidi­
ary of United Banks of Colorado,
Inc. He is a ten-year veteran of the
United Bank system, and most re­
cently served as vice president and
director of retail banking service for
United Bank of Fort Collins.

North Dakota News
GRAFTON: Dan Lessard, president
of the First American Bank & Trust
of Grafton, announced his retire­
ment as of July 1st, and from the
board as of December 21, 1986. He
retires after 40 years of service to
the bank, the last 18 as president.
His successor is Peter L. Keeley. He
is currently the executive vice presi­
dent of the bank, which he joined in
1972.

Bank Directory Correction
In the fisting for Continental
Bank of Chicago on page 2 of the
Correspondent Bank section in the
1986 Io w a Bank Directory, Sandra
Kramer’s first name was inadver­
tently typed as “ Susan.” The cor­
rect first name, as it appeared in pre­
vious directories, is Sandra. We re­
gret the error.

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R O . B ox 90,
W aterloo, IA 5 0 7 0 4

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POSITIONS AVAILABLE
WANTADS
Rates are $5.00 per line per
insertion. Add $3.00 for file
letters per insertion. Identity of
file letter advertisers cannot be
revealed.
NORTHWESTERN BANKER
1535 Linden St., Suite 201
Des Moines, Iowa 50309
Phone 515/244-8163

POSITION AVAILABLE

SR. TRUST OFFICER
Great opportunity! Major Midwest bank desires Sr. Trust
O fficer w /3 + yrs exp. Knowledge of employee benefits &
portfolio management desired. JD degree a must.
To $40,000.

AGRICULTURAL LENDING OFFICER
Need a new challenge? $25mm Minnesota bank seeks ag
lender w/3 + yrs exp handling a $5mm loan portfolio.
Understanding of cash flow statem ents and a degree
req'd. Management opportunity!
To $35,000.
For Further Information
Call Paul Gentzkow

Ì

H >
M>
H >

OPERATIONS MANAGER Southwestern Minnesota. Ex­
perience in operations, installm ent lending and real es­
tate. $20M facility. Salary open. Send resume to File No.
WFO c/o Northwestern Banker.
(PA)
AUDITOR— Experienced, management oriented financial
institution auditor. CPA preferred; w ill consider senior exam inator or bank audit experience. We are a bank holding
co. subsidiary w ith verification and audit services seeking
to expand our management, market and product line.
Competitive salary and benefits. Please respond with
resume’ and compensation history to: P.O. Box WFR c/o
Northwestern Banker.
(PA)
ASST. CASHIER— Bank located near DM. An opening for
indiv. w/bank operations exp. Some lending duties pos­
sible. Insurance license preferred. Send resume to File
WFS c/o Northwestern Banker.
(PA)
Im m ediate opening fo r experienced COMMERCIAL
LENDER in large eastern Iowa commercial bank. Excellent
benefit package. Send resume to File No. WFT c/o North­
western Banker Newsletter.
(PA)

3636 IDS Center
Minneapolis, MN 55402

(612) 339-9001
ALL FEES COMPANY PAID

SR. LENDER experience and CEO of $20-40MM IA/IL bank.
Mature banker. Proven record of accomplishments. Com­
mon minded. Contact file No. WFQ c/o Northwestern
Banker.
(PW)

POSITIONS AVAILABLE
COMMERCIAL LENDER
$16m+ portfolio, take charge pos running Performance
oriented branch. Metro bk looking for a leader. Bonus po­
tential and growth unlimited.
$40-45K.
PRESIDENT
S MN bk seeks top quality prof w/mgt potential for comm
bk in cty seat town. Clean bk w/strong earnings potential
and proven staff.
$40K + .
CONSUMER LENDER
2 + yrs in bk w/floorplanning, loan anal and people skills.
Mgt potential for heading up th is $2m portfolio of a
$30m + in 10K+ town.
$23K.
FOR FURTHER INFORMATION CONTACT: KURT ROSENCRANTS

H ill

1(10
Off

317 6th Ave, Ste. 650
Des Moines, IA 50309

(515) 244-4414
ALL FEES COMPANY PAID

TRUST OFFICERS
Positions now available in three major banks in Nebraska,
Iowa, and South Dakota. Law Degree preferred. Experi­
ence in personal trust and/or employee benefits a plus.
Salary range to $35,000.

BANK AUDIT CHIEF
Major bank holding company seeks CPA w ith bank audit
experience. Salary to $30,000.

Freeland Financial Service
1010 Equitable Bldg. Des Moines, IA 50309
515/282-6462

POSITIONS AVAILABLE
SENIOR LENDER - For Central Nebraska bank.
Need experience in ag lending. To $45K.
CEO - for small Omaha bank. Some lending and
operations experience. To $45K.
LOAN REVIEW OFFICER - For Omaha banks.
Need 3-5 years loan exp., or bank examiner ex­
perience. Some travel involved. To $35K.
All fees are paid by our client employers.
Richard L. Beem, CPC
GUMBERT EXECUTIVE EXCHANGE, INC.
11246 Davenport Street
Omaha, NE 68154
Phone: 402/330-3260

Member National Personnel Associates
We’re Nationwide

POSITION AVAILABLE
$30M north Iowa bank needs SR AG LENDER.
Responsibilities would include implem entation of
lending policies, compliance, supervision of staff,
work out loans and developing custom er relation­
ships. Salary negotiable. Send resume to File No.
WFE c/o Northwestern Banker.

Employer pays fee.
Please contact Malcolm Freeland concerning these quali­
ty applicants or for other types o f banking officers.

FOR SALE
TEMP. BANK BLDG.— 12 x 65 ft. trailer for sale, rent or
lease available mid-June. Heat & AC, 2 teller windows, 1
drive-up window, 2 offices, com puter room, 3 safes and all
under-counter equip, night depository. Contact John
Young, 1st United Bank, Bellevue, NE (402) 291-2000. (FS)

Serving bankers quietly and efficiently.

CAPITAL PERSONNEL SERVICE
714 First Interstate Bank Building
Des Moines, Iowa 50309
515-283-2545

POSITIONS AVAILABLE
ExVP—$50MM bank. Require 10 yrs. exp. and a
desire to advance. To $50K.
AG LENDER—$70MM bank. Need min. 3 yrs. solid
lending background. To $35K.

POSITIONS WANTED
Seeking a MANAGEMENT TRAINEE POSITION leading to
a career in banking and Investment field. Graduate of Mid­
land College, Fremont, NE., w ith BSBA degree, concentra­
tion in management. Two years experience as bank teller
last two years of college. Available immediately for inter­
views. Good references. Bradford Cook Schiermeyer, 91
West 10th St., Fremont, Nebr. 68025 (402) 721-2213.
(PW)

REAL ESTATE LENDER
Multi-bank group seeks qualified real estate lender. A bility
to package for sale to secondary market a plus. Salary
Open depending on experience.

R O B E R T BM M LF

LENDING OFFICER
$30M midwestern bank seeking experienced
lender for ag-commercial loans. Must be self
starter with good information gathering and docu­
mentation. Could be #1 man in 6 to 12 months.
Send resume to File No. WFL c/o Northwestern
Banker.

COMMERCIAL LENDERS
Positions now available in three choice locations in Upper
Midwest. Require minimum of 3 years experience and col­
lege degree. Salary to range from $35,000 to $60,000.

and

SR. LOAN OFFICER—Small rural Ag bank. To
$45K.

Bank Consultants
Specializing in Bank Acquisitions
515-232-0814
P.O. Box 450 405 Main Ames, Iowa 50010
D o n a l d E. H o l d e r , Principal

Estate Appraisals
Purchase of
Collections

R

egency

RECRUITERS. INC.

Diane Evans

1102 Grand Avenue,
Kansas City, MO 64106
816/842-3860

POSITIONS AVAILABLE

Sale o f Rare Coins

LOAN REVIEW - lead bank of major midwestern holding
company. Requires degree and minimum of tw o yrs. loan
review experience in large bank environment.
$28K

R eliable and respeeted service
for over 20 years

COMML. LOAN - $100M suburban affilia te of large m ulti­
bank holding company. Strong technical skills and 3 yrs.
or more experience.
$30K

Used by bankers
throughout the midwest

Ben E . Marlenee
Coins
913 Locust
Des M oines, Iowa 50309
515-243-8064

INSTL. LOAN ■manage consumer department for $80MM
suburban bank. Ideal candidate w ill have five yrs. instal.
lending background including dealer paper.
$30K
CEO - small rural bank located close to recreational area.
Work out situation. Ag credits not the problem.
$38K
AGRI LOAN - primary responsibility for all Ag credits in
$25MM com m unity bank. Assist w ith commercial loans.
$35K
Additional opportunities available. Resume requested.

TOM HAGAN & ASSOCIATES
2024 Sw ift - Box 12346
North Kansas City, MO 64116
816/474-6874
“ Serving the Banking Industry Since 1970”

Vol. 15 No. 7 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden
Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second class postage paid at

Des
Moines, Iowa. Address all mall subscriptions, changes of address (Form 3579), manuscripts, mall items to above address.
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Federal Reserve Bank of St. Louis