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Vol. 11 No. 9 10 Major Banks Form A T M Network EN m ajor regional banking orI ganizations with total assets of more than $145 billion announced June 14 they have formed a join t venture to create a nationwide net work o f automated teller machines. Northwest Bancorporation o f Min neapolis is one o f the original incor porators. The system — CIRRU S System, Inc. — will allow custom ers o f any of the participating banks to access an ATM on the network to make cash withdrawals. The process o f Unking the mem ber bank system s wiU begin in Oc tober o f this year and the network is expected to becom e operational dur ing the first quarter o f next year, providing access to more than 3,500 ATM s for 10 milhon custom ers in 35 states. The 10 banking organizations that wiU share the network (with their size in total assets at the end of 1981) are: •Am eriTrust Corporation, Cleve land ($5.5 bilhon) •Baybanks, Inc., Boston ($3.5 bil lion) •First Interstate Bancorp., Los An geles ($37 bilhon) •Manufacturers Hanover Corpora tion, New York ($59 bilhon) •Mellon National Corporation, Pitts burgh ($16 bilhon) •Mercantile Texas Corporation, Dal las ($6.9 bilhon) •NBD Bancorp., Inc., D etroit ($11.3 June 21,1982 Des Moines, Iowa bilhon) •Northwest Bancorporation, Minne apolis ($15 bilhon) •Sun Banks o f Florida, Inc., Orlando ($3.8 bilhon) •Trust Company of Georgia, Atlanta ($3.8 bilhon) NBD Bancorp., Inc., D etroit, will be the “ sw itch” bank providing the interchange functions for the net work. The principal members have elec ted Alex W . “ Pete” Hart, First In terstate, chairman of the corporation; W alter R. Miller, Jr., Northwest Bancorporation, president; Darwin Deason, Mercantile Texas, vice presi dent; Howard Mandelbaum, Manu facturers Hanover, secretary; and CIRRUS This logo will identify ATMs that are part of the nationwide network created by CIRRUS Sytem, Inc. William T. SandaUs, Jr., Baybanks, treasurer. Other members of the CIRRUS board o f directors are: John H. Rog ers, AmeriTrust; George Di Nardo, Mehon National; Thomas H. Jeffs, II, NBD Bancorp; Donovan W . But ler, Sim Banks of Florida; and Dennis M. Patterson, Trust Company of Georgia. Two additional classes of members are to be provided — associate mem ber, which may connect directly to the switch, and corresponding mem ber, which may participate through an associate or principal. One m ajor corresponding member already committed, Mr. Hart repor ted, is South Carolina National Corp., Columbia, S.C., with $1.9 bilhon in assets and more than 50 ATM s. Participation will be open to both federally and state chartered institu tions with depository powers that are fully insured. That will include sav ings and loan companies and credit unions. When the CIRRUS system is fully operational, anyone holding an ATM card issued by a CIRRUS member will be able to withdraw cash from an ATM on the CIRRUS network. Mr. Hart said the CIRRUS sys tem was designed to provide a na tionwide ATM interchange system “ as efficiently and as inexpensively as possible.” He pointed out that each principal member of the network has made substantial capital investments in its CALL ON THE “PERFORM ANCE TEAM ” wherecommon transactions are handleduncommonly well. 13th & M Street https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1i i m a m FIRST NATIO NAL LINCOLN • Lincoln, Nebraska 68501 • Member, F.D.I.C. "Opportunity F ir s t in Iowa, by putting Iowa first. T o llc C ■ 1 Mm19 • WW • • R o b e rt Scoff, Correspondent Banker Bob Buenneke IOWA. nes/viomes M A n Affiliate of Northwest B ancorporation M em b e r F D IC A NATIO NAL BANK regional systems and those systems now will be available for the benefit of each others’ customers when they travel or when they move.* Mr. Hart said that although tran sactions on the CIRRUS network in itially will be limited to cash with drawals and inquiry (to determine ac count balances), it could be expand ed, as the law permits, to handle other transactions. The network may also be expand ed in time, he said, into Hawaii, Alaska, Canada and other parts of the world. Banco Call (515) 245-3131 or toll-free (800) 362-2514 ficer, spouse or his or her designate American Tru s¿SÉHÉ£jFWr & Savings D a nk Til« Opportunity and spouse are invited as guests o f Town Clock Plazo. Dubuque, low o Coll 319-5Ô 2-1841, COLLECT IN D E X A A R M , ACM S - Federated Adm inistrative Services, Inc. Addi tional personnel from a bank may be election o f Joel M cVey as vice presi registered at $40 per person. Regis dent o f insurance. tration is limited; call 800-328-4923, M IN EO LA: Long time president o f toll free. Mineola State Bank, Louis F. Kruse, 85, died Sunday, June 13, at Iowa F A IR FIE LD : Group 11 annual golf M ethodist M edical Center in Des day will be held at the Fairfield M oines. His father Henry Kruse Country Club on W ednesday, June 23. For information contact: Terry founded the bank in 1903 and Louis Lowenberg, vice president, Iowa Kruse started work at the bank in 1920. State Bank & Trust Co., Fairfield. Iowa News FORT DODGE: Roger J. H oick will IN D E X is currently co-spon be joining the staff o f The State soring a m ajor research project with Bank July 1 as vice president and Bank Adm inistrative Institute and head o f the agricultural division, ac has contributed to the B A I “ Sweep” cording to Robert D. Clawson, presi seminars conducted in five regions. dent. He currently is vice president Iowa Independent Bankers A sso and head o f the agricultural division ciation invites you to a seminar o f Citizens National Bank o f Charles City. presented by IN D E X explaining: •What is a sweep account? LAM ON I: A t State Bank o f La•How other banks are using sweep moni, Ronald “ Bud” Tice has been accounts. named vice president and senior •How can it work for your bank? loan officer and Ineva Bowen has •Marketing and pricing plans. been appointed as assistant vice The seminars will be held June 22 president, according to Jim Schipat Omaha M arriott Hotel, 10220 Re per, president. Mr. Tice has been gency Circle, Omaha, Neb., and June with the Okey Vernon First Nation 23 at Jumer’s Castle Lodge, 174 and al Bank in Corning for the last 18 Spruce Hills Drive, Bettendorf, Ia. years. Ms. Bowen has been with the The seminar agenda will begin bank over 10 years and will be ex with registration at 2:30 p.m., and panding her current role. the seminar beginning at 3:00, fol lowed by a reception at 5:45 and din M A RSH ALLTO W N : Com m ercial ner at 6:30. The chief executive of- State Bank recently announced the Provider of Executive Perquisites to Officers of Financial Institutions If the banking giants were to move into your town tomorrow, how would you fare? Call us to learn how to take care of you and your future...no matter who owns the bank! The Coughlin Organization William J. Coughlin F.L.M.I. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 913 Midland Financial Bldg., Box 1296, Des Moines, IA 50305 Phone 515-244-0856 Iowa WATS 1-800-532-1145 M ORNING SUN: Steve Jacobson, executive vice president o f the Iowa State Bank, recently announced the prom otion o f Frances M cElhinney from cashier to vice president and ASK TE R R Y M A R TIN to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA’ BANK Supplement to Northwestern Banker Newsletter 6- 21-82 Carleton D. Beh Company Investment Bankers / Financial Consultants 1300 Des Moines Building / Des Moines, Iowa 50309 5 1 5 /2 8 8 -2 1 5 2 & _ S&P: AA MOODY’S: A1 NEW ISSUE We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: $12,970,000 STATE BOARD OF REGENTS, STATE OF IOWA Academic Building Revenue Bonds, Series S.U.I. 1982 (State University of Iowa) DATED: July 1,1982 DENOMINATION: $5,000 Both principal and semiannual interest (January 1 and July 1; first coupon due January 1,1983) payable at the Of fice of the Treasurer of the State University of Iowa, Iowa City, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES AND UNDER EXISTING LAWS AND RULES OF THE STATE OF IOWA FROM “ PERSONAL NET INCOME TAX” AND “ BUSINESS TAX ON CORPORATIONS.” MATURITIES $670,000 $700,000 $700,000 $700,000 $700,000 $700,000 $700,000 $700,000 $700,000 1 1 1/2 % July 1,1985 July 1,1986 July 1,1987 July 1,1988 July 1,1989 July 1,1990 July 1,1991 July 1,1992 July 1,1993 8.50 8.75 9.00 9.40 9.65 9.90 10.10 10.40 10.60 $700,000 $700,000 $700,000 11% July 1,1994 July 1,1995 July 1,1996 10.80’ 10.90’ 11.00’ $700,000 11. 10 % July 1,1997 $700,000 $800,000 July 1,1998 July 1,1999 11. 20 ’ 11.25’ $800,000 $800,000 $800,000 10% July 1,2000 July 1,2001 July 1,2002 11.30* 11.35* 11.40* 11.10’ 11.20% 'Callable July 1,1993 at 103.00 maximum. (See call provisions) The State University of Iowa is located in Iowa City le east central part of the State. It is the oldest institution of higher learning in the ;-----JjW ...» «,„„ 0 . 0 . 1 , vuiisivhoui ten uuiicycs. liberal Arts, Law, Medicine, Dentistry, Pharmacy, Business Administration, Engineer ing, Nursing, Education and the Graduate College. A major area of the University is its Health Center, including the Colleges of Medicine, Dentistry, Nursing and Pharmacy, and the University Hospitals and Clinics. The University of Iowa is a major University, not because of its size it is the second smallest of the Big Ten Universities — but because it excels as a center for learning. The University of Iowa has ex perienced steady increases in enrollment over the past decade. Enrollment is currently over 26,464. These bonds are being issued to provide funds for construction of a communications facility, an addition to the University Theater fire safety deficiencies, and issuance costs. ’ These bonds are being issued under the provisions of Chapter 262, Code of Iowa, 1981, as amended, which authorizesthe Board of Regents to carry out certain designated projects, including building construction, equipment and furnishings, at the institutions of higher learning under its jurisdiction and authorizing the Board of Regents to issue its revenue bonds. They are payable solely from gross student fees and charges collected and institutional income received by the State University of Iowa and are not obligations of the State of Iowa nor payable in any way by taxation. Available Student Fees and Institutional Income Academic Tuition Fees Year Resident Non-Resident Total Earmarked 1977- 1978 750 1,710 $20,305,709 $ 916,976 1978- 1979 750 1,710 20,749,395 923,771 1979- 1980 830 1,890 23,295,495 1,041,579 1980- 1981 830 1,890 25,201,491 1,119,380 1981- 1982 950 2,350 30,004,000 1,291,507 Average annual debt service $2,911,483 (Est) Maximum annual debt service $4,488,600 (Est) Available student fees for fiscal year ending June 30, 1981 $24,082,111 Coverage: Average Debt Service 9.86X (Est) Maximum Debt Service 6.40X (Est) Available $19,388,733 19,825,624 22,253,916 24,082,111 28,712,493 General Institutional Income $6,539,391 6,886,642 8,118,755 9,459,935 9,933,400 The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our puchase of these bonds are based Bonds of particular maturity may or may not still be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Division of Hutton & Company Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 Don't gam b le when choosing a correspondent bonk. Com e to the professionals. Bill D ickey to assistant vice presi dent. RID G EW AY : The Farmers State • Bank will observe its 50th anniver sary for two days, July 15 and 16, at the bank during normal business hours o f 9:00 to 3:00. Refreshments will be served and drawings will be ® held for both adults and children. The bank opened for business on Ju ly 18, 1932. Nebraska News ^ q ^ ^ Stan Matzke, Jr., has been ap pointed executive vice president o f the Nebraska Bankers Association and will begin his new duties in July, according to N BA President Harold Stuckey, president, Lexington State Bank & Trust Co. Mr. Matzke, 48, currently is assistant to the presi dent at Southeast Community College in Lincoln. He succeeds Roger M. Beverage, who resigned last month to enter private law practice and the insurance business in Ber trand, Nebr. BELLEVU E: The Bank o f Bellevue recently announced the election of Tim J. W ilson as vice president in charge o f m ortgage lending. He previously was an officer o f the Banks o f Iowa M ortgage Corp. in Omaha. Minnesota News • CROOKSTON: Marlin Winkelman has joined the staff o f First Am er ican Bank o f Crookston as executive vice president and member o f the UNITED board. He previously was a vice president with W estern Bank of Sioux Falls, S.D., where his primary responsibility was with the real es tate department. Mr. Winkelman succeeds Don R. Hass, who has been named president o f the Bremer Bank in Breckenridge. Polk County State Bank, chartered in 1913, changed its name to First American Bank on June 1. LAK E CRYSTAL: Larry M. Blachowske and Dean R. Meyer have been prom oted to vice president of Lake Crystal National Bank. Mr. Blachowske, who joined the bank in 1974, will be in charge o f the com mercial and instalment loan depart ment. Mr. M eyer joined in 1977 as the ag representative and as vice president will have primary respon sibility in agricultural loans. M IN N EAPOLIS: Ardell C. Gilb and Stuart H. M ason recently were elected vice presidents o f North western National Bank. Mr. Gilb will serve in the trust investment services division o f the individual services department. Mr. Mason is serving in the eastern division of the national department. O R T O N V IL LE : E lw ood Throndrud, chairman o f the board for the past two years and president for 21 years of Northwestern State Bank, recently retired from the banking business. The bank honored his re tiring with an open house. Mr. Throndrud began his banking career CENTRAI BANK OF DES M O IN ES , N A ■ M E M B E R FD1C ■ (S1S) 245-7 11 1 AFFILIATED W IT H UNITED CENTRAL BANCSHARES, INC. TOLL FREE NUMBER ( 800 ) 362-1615 in 1948 at Northwestern Bank in Dawson. He later joined Northwest ern State in Ortonville and was named president and chief executive officer in 1959. ST. CLOUD: Dick Parten has been named president o f St. Cloud Na tional Bank & Trust Co. Mr. Parten previously was president and chief executive officer of Dacotah Bank H olding Co., Aberdeen, S.D. Illinois News SKOKIE: First National Bank of Skokie, founded in 1907 and cele brating its 75 th anniversary this year, has prom oted James A. Carl son, current executive vice presi dent, to president and chief oper ating officer. Mr. Carlson, the fifth man to hold the position o f president in the bank’s 75 year history, was elected to the board in April this year and will assume his new posi tion as president effective July 1. Wyoming News CASPER: Rick Frederick has been prom oted to vice president and cashier of American Bank o f Casper. He began his banking career with Am erican Bank in March o f 1981. RISMILLER KEMPER AND OWEN G e t t in g it d o n e fo r y o u . i ^ i David Rismiller David Kemper John Owen n President w iu c iii o Senior c m u i cExecutive x c L U iiv e tExecutive x e c u ilv e Vice Présider President Commerce BankofKansascity M » __ ■ 'M B Vice President NA https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M E M B E R FD IC Telephone (816) 234-2000 ** PARTIAL LIST OF AVAILABLE POSITIONS COMM’L LOAN—2-5 yrs com m ’l lending exp in a sophisticated banking environment. Nat’l acctg exp. BA/M BAa + . To $35K DIRECTOR/LOAN REVIEW—7 + yrs in high level credit analysis with at least 3 yrs in loan review o f a large comm’l bank. BS, MBA + + . $40K CORP LEND OFFICER—3-5 yrs calling exp on Fortune 1000. Should be a VP or Sr VP currently. MBA is a + . $30’s LOAN REVIEW/CREDIT ANALYSIS OFFICER— BA to mon itor quality o f the banks loan portfolio. 2 + yrs banking exp in loan review, credit analysis or comm’l lending environ ment. $30K ALL FEES COMPANY PAID (M IO 410 of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID Do you have a dress code problem in AG LENDERS WANTED your bank? Call us today to find out If you have two or more years of ag lending experience and want to move up, we have a select number of positions open in the midwest. A degree from Iowa State University or other agoriented university will be a definite plus. Write or call Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. Phone 515/ 282-6462. Employer pays fee._______________________(PA) how only $ 1 .0 0 per day per employee EXPERIENCED CPA/COMPTROLLER— Minimum o f two years experience required. Banking background useful. Growing multi-bank holding company. Salary open. Send resume to John L. Calton, Executive Vice President, Peoples Bankshares, Ltd., P.O. Box 360, Waterloo, Iowa 50704. (PA) PRESIDENT-CEO—$18 m illion bank near Springfield, Il linois. Population 2,200. Must have lending background. Contact L. Wenzl (515) 277-9907, or write in confidence c/o Hawkeye-Capital Bank & Trust, E. 5th & Locust, Des Moines, IA 50307. (PA) CHIEF EXECUTIVE OFFICER—A $20 m illion bank located in western Illinois is seeking an individual w ith agri cultural loan experience to become chief executive of ficer. This is an excellent opportunity for an individual w ith an agricultural loan background interested in managing a bank. Ownership has interests in several Illinois banks so that advancement opportunities are unlimited. Salary commensurate w ith experience and ability. Please send resume to file QBH, c/o The Northwestern Banker. (PA) AGRICULTURAL LOAN OFFICER— Excellent career op portunity for seasoned lender w ith a strong Ag back ground. Degree preferred but not required. Resumes may be forwarded to: Personnel Officer, First Interstate Bank of Great Falls, P.O. Box 5010, Great Falls, Mont. 59403.(PA) will correct it. ÆeAjyioekbr^ CAREER APPAREL 523 N. Main St., Carroll, la., 51401 712-792-2748 | LOAN OFFICER—$20 m illion bank. Bank experience necessary. Salary open. Send resume to: Frank Osowski, V.P., National Bank of Canby, P.O. Box 70, Canby, MN 56220._________________ (PA) BOND SALESPERSON Established bond salesperson wanted to cover Iowa and part of Minnesota. This is a partially de veloped area w ith tremendous potential. We have a very competitive compensation plan, good ben e fits and excellent working conditions. Take this opportunity to join Minnesota’s One Billion Dollar Bank. Contact Nancy Michael (612) 370-2447, or send resume to F & M Marquette National Bank, P.O. Box 280, Minneapolis, MN 55480. (PA) Equal Opportunity Employer I I Please Contact: J. Mason Henry I Charles E. Walters Co., Inc. I L 39GingerWoodsRoad, Valley, Nebraska68064 Phone: (402)553-6400 1 I le I I I I • Faced w ith an unprecedented demand for talent and innovative executives, com m unity banks are increasingly turning to Freeland Financial Ser vice, Inc. for assistance in attracting the most pro mising candidates to fill their positions. Remember, the best individuals are usually cur rently employed and not looking to make a change; therefore, conventional in-house re cruiting methods are often ineffective, overlook ing the most qualified candidates. Time is money! Effective internal executive re cruiting is costly when you consider advertising, resume review and screening, preliminary inter view contact, traveling costs, interviewing can didates, and reference follow-up. Contact our performance-oriented organization today to meet your professional and technical employment needs. Freeland Financial Service, Inc. Phone 515/282-6462 246 Insurance Exchange Building Des Moines, Iowa 50309 Employer pays reasonable fee FOR SALE Brandt Model 952 Demonstrator coin sorter counter-save over $800. C all M oney H andling M achines Inc., 1-800-228-2581.1n Nebraska, 1-800-642-1522. (FS) NCR 755-1000 single pocket proof machine. Has been under maintenance contract. C ontact Andrew Kobs or Diane Hanna, First National Bank, Fort Dodge, Iowa 50501. Phone (515) 576-6811. (FS) Two NCR Model 775-2100 proof machines w ith sixteen pockets each. Our sale price is $2,500 per machine. Con ta ct Dennis McCormick at (612) 227-8047. (FS) EQUIPMENT FOR SALE U nd e r-co un te r ste e l te lle r c a b in e ts , v inyl upholstered teller stools, safe w ith combina tio ns—size 18’’x22''x32", cash trays, 14-drawer cash bus, fu lly equipped drive-in pods, fireproof note tub, dual-control uni-safes, safe deposit boxes, 35MM cameras, and various other items for teller operations. Contact Joe Steil or Larry Miller at the First National Bank in Sioux City. Phone 712/277-1500. (FS) Five NCR Model 152 Teller Machines under service agree ment. La Porte City State Bank, La Porte City, Iowa. Phone (319)342-2137. (FS) POSITIONS AVAILABLE NCR 279 Debit Card Terminal w/Pin Pad and Card Reader. Price, $3,000.00. Contact United Central Bank & Trust Co., Box 2068, Sioux C ity, Iowa 51104. (FS) AGRI LOAN—rural $30 MM Iowa bank. Position requires three years or more Ag Lending experience. Ag Degree a plus. $22,000 w CASHIER—$40 MM suburban bank w ith inhouse com puter desires “ numbers” oriented banker to fill cashier/controller position. Accounting Degree preferred. $28,000 COMMERCIAL LOAN OFFICER w ith 5-7 years experience. Experience w ith loans to mid-six figures and higher is desirable. Degree preferred but not required. Resumes may be forwarded to: Personnel Officer, First Interstate Bank of Great Falls, P.O. Box 5010, Great Falls, Montana 59403.__________________________________________(PA) Experienced INSTALLMENT LOAN MANAGER—for south central Nebraska $25 m illion bank. Also additional respon sib ility in agricultural and commercial lending. Send sal ary requirements w ith resume. W rite file QBE, c/o North western Banker. (PA) I □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. W hy Call On A Professional? Bank Division ooo I COMMERCIAL LOAN—$60 MM suburban bank has middle ^ management opportunity for experienced lender. Handle primarily commercial w ith some real estate. $26,000 When it comes to agriculture, banking and pe rsonne l. . . go to the specialists — go to AGRIcareers, Inc. Progressive bankers pay us to find the people they need. Corr. O ff.............. Leas. Reps.......... Ag Lend. O ff........ Ag Lend. Offs. (2) Loan O ff./In s .... Cred. Anal............ . . . .IA . $17,000 MN . $20-25,000 .Wl . $16-20,000 . .IA . $17-20,000 ___IA . $18,000 ........IL . $20,000 Ask the ag banking specialists what’s available without cost or obligation. NEW HAMPTON. IA 50659 MASSENA. IA 50853 1 (515)394-3145 (712)77913744 30/7 G4REERS, IN C . ™ the original agricultural recruiter SECOND OFFICER—$30 MM suburban bank w ith two de tached facilities. Adm inister loan portfolio and business development program. Knowledge of operations helpful. $38,000 OPERATIONS/LENDING— medium size rural bank. Pri- ® mary duty w ill be operations but need some Ag Lending experience. Management position. $26,000 JUNIOR OPERATIONS— lite banking experience and col lege degree w ill qualify for entry level management posi tion w ith $50 MM suburban bank. $14,000 COMMERCIAL LOAN—well experienced lender to fill senior loan officer position in medium size Wyoming bank. $30,000 a ™ Additional opportunities available. Salary requirements and resume' requested. TOM H AGAN & ASSOCIATES of Kansas City Box 12346 - 2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 11 No. 9 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0
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