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June 24,1985 Des Moines, Iowa Vol. 14 No. 10 B A I Says Banks Pay 43% Tax Rate o m m e r c ia l banks continue Cto have a far higher effective federal tax rate than is generally realized, a new Bank Administra tion Institute nationwide study of banks indicates. According to BAFs second an nual survey of bank taxes, the aver age effective tax rate for commercial banks is 43%. “ This figure includes the impact of two indirect — or implicit — taxes that are imposed on banks," states Brent C. Andersen, chairman of the Institute’s Tax Commission and vice president of taxes at RepublicBank Corp., Dallas, Texas. “ These implicit taxes include the interest foregone by banks on tax-free state and municipal obligations (which yield lower rates of return than the market rate on taxable obligations and, therefore, represent a subsidy to the state and local governments) and the interest foregone on manda tory reserves banks are required to maintain with the Federal Reserve System. Our survey adjusted bank earnings and income taxes to reflect these implicit taxes in order to give a truer picture of a bank’s tax situa tion.’ ’ Non-interest paying bank reserves held with the Federal Reserve Sys tem contribute to the System’s sub stantial earnings which, after pay ment of expenses, are turned over to the U.S. Treasury Department just like federal taxes. In 1983, for ex ample, the Fed turned over $14.232 billion in earnings to the U.S. Trea sury. In determining its findings, the Institute calculated a rate of re turn on banks reserves, based on Fed earnings actually turned over to the Treasury Department, and pro rated an individual bank’s share of these contributions, based on its average reserve holdings for that year. The 43% average, effective fed eral tax rate does not incorporate the impact of other taxes paid by banks, notes Mr. Andersen. These other taxes that are not incorpo rated within the 43% effective fed eral tax rate include payroll taxes, real estate taxes, sales and use taxes, and other state and local taxes (such as income taxes, fran chise taxes, taxes on shares of cor porate stock, excise taxes and busi ness privilege taxes). B A I’s survey, mailed to all banks across the country in October, 1984, was undertaken to determine the ef fective federal tax rates for the na tion’s banks as a whole, based on 1983 financial data. Based on 2,252 responses, the In stitute arrived at an effective federal tax rate of 43% by adding: • an estimated tax rate of 30% stemming from the imputed interest on tax-exempt income on state and municipal obligations (which yield lower rates of return) • a 7% estimated effective tax rate as a result of lost interest on Federal Reserve required deposits • the explicit tax rate of 6% for commercial banks as a whole. BAFs 1983 tax survey (based on 1982 financial data) showed that the average effective federal tax rate for banks in 1982 averaged 52%. The drop is apparently the result of the decline in foregone interest or re serves maintained with the Federal Reserve, according to Mr. Andersen. “ The BAI study concludes that, when certain indirect taxes are taken into account, commercial banks still have a far higher effec tive federal tax rate than is general ly realized,’’ Mr. Andersen states. Readers interested in further in formation on this study may contact Gail Nelson, Principal Research Manager, Accounting and Finance Group, Bank Administration Insti tute, 60 Gould Center, Rolling Mea dows, IL 60008 (or call 312/228-2334). □ House Panel OKs Closing Loophole; Regional Pacts The House Banking Committee approved legislation on June 12 to close the nonbank-bank loophole and allow regional banking pacts. This legislation, essentially the same as what passed the financial institu tion’s subcommittee the previous week, would: 1) Ban nonbank banks, but impie- YAKE, SPRENGER AND JENNINGS Getting it done for you. ^ Ernie Yake Bill Sprenger Tom Jennings z 234-2483 j ^ - z^ o.} z234-2625 j^ -z o z i z234-2484 j^ - z ^ tw Commerce Bank of Kansas a ty A https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M E M B E R FDIC Tplonhnrm 094.9nnn Telephone (816) 234-2000 V Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS Member FDIC feam w ork: one of the reasons we're first in Iowa. fit Ip Tom Quinlin ment a May 9, 1984, grandfather clause that would protect 109 al ready existing nonbank banks; 2) Authorize state regional banking laws but trigger full nationwide banking as of July 1, 1990 for any states enacting such laws; 3) Pro hibit mergers among the top 25 banking institutions in the country, and 4) Restrict nonthrift thrifts, as recommended by the Federal Re serve Board. The next step is consideration of the legislation by the House Rules Committee, which could occur as early as Tuesday, June 25. Banks Cut Prime Rate to 9 1/2 % Most major banks across the na tion cut the prime lending rate to ASK GARY BARTLETT MASSENA: Mike Keim has been named president and chairman, and Ed Young, executive vice president and CEO of Union National Bank John Cretzmeyer here, previously Farmers Savings Bank. Mr. Keim is president and 9l/2% from 10% last Tuesday, the chairman of Corn Belt Bancorporafirst time it has been in single digits tion, and also is affiliated with since 1978. banks in Thurman, Griswold and Correctionville. Mr. Young pre viously was ag loan officer at Na Iowa News The Guaranteed Export Financ tional Bank Dyersville. ing Seminar sponsored by the Iowa SPENCER: Alan L. Ploeger has Bankers Association and the Export- joined the Farmers Trust and Sav Import Bank of the United States in ings Bank as vice president, agricul cooperation with the Iowa Develop tural loans. He previously served as ment Commission, the U.S. Depart vice president, agricultural loans at ment of Commerce, International Hawkeye Bank and Trust, Hum Trade Administration, District Ex boldt and First National Bank, port Council, and Small Business Mason City. Administration, will be held Thurs day, July 11, at the Savery Hotel in WATERLOO: E. Michael Farrell has joined Peoples Bank and Trust Des Moines. The seminar will be held from 8:00 Company of Waterloo as vice to 5:00 with an hour lunch break. president/administration and con Registration fee will be as follows: troller of the bank. His responsibili members—$50 in advance and $70 ties include investments, asset-lia at the door; subscribers—$75 in ad bility management, operations and vance and $95 at the door, and non marketing. Mr. Farrell is a certified members—$100 in advance and public accountant and has served as a chief financial officer in the Water $120 at the door. loo financial industry for the past The fee will include refreshments ten years. for the two breaks, lunch, and all handout materials. For more infor mation contact the IBA in Des Nebraska News Moines. The Mid Plains Chapter of the Na INDEPENDENCE: Fairbank State tional Association of Bank Women Bank has signed an agreement with will hold its June meeting at Mr. Farmers State Savings Bank of In “ C’s” Steakhouse, on Tuesday, June dependence whereby Farmers State 25th, at 6:30 p.m. would purchase the assets and as Guest speaker will be Paul R. sume the liabilities of Fairbahk Curro, president and founder of State Bank and Fairbank State Curro & Associates, a career man Bank would become an office of agement and human resource man- to make MNB work for you. • Personal • Prompt • Professional Toll free 1-800-332-5991 Merchants 4b National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Farmers State. Regulatory approval is estimated to take approximately six months. Earl Beilis, long-time president of Fairbank State Bank, plans to retire after 36 years with the bank, staying on as a consultant on a limited basis. No other person nel changes are expected. H. PETER DEROSIER Vice President Count On Our Correspondent Bankers MARK CHRISTEN Vice President Valley National Bank ili DES MOINES, IOWA 50304 Member FDIC A BANKS OF IOWA BANK Call toll free (800) 622-7262 Call on the “Experienced Professionals” Ready to meet your ^ First N atio n al Lincoln correspondent needs. agement firm headquartered in Omaha. His topic will be “ The Keys to Self-Motivation!” To make reservations, please call Phyllis Otto, First National Bank of Council Bluffs, 325-2699. BRIDGEPORT: William J. Morrow has joined The Bridgeport State Bank as a vice president and loan of ficer. He previously served as vice president, loan officer and director at Commercial National Bank of Ainsworth. DECATUR: Citizens State Bank re cently announced that Carolyn Kel logg has been promoted to the posi tion of bank president. She replaces Claude Havick who resigned the post to take a seat with the Williams Savings Bank at Williams, Iowa. Mrs. Kellogg was a loan officer for the past three years. LEXINGTON: Jon Thornburg has joined Lexington State Bank & Trust Co. as vice president and trust officer. He will administer the trust i 3t'hn& M Streets, Lincoln, NE 68501 ORLEANS: Kurt A. Tarkington has joined the staff of The Republican Valley Bank as loan officer. Mr. Tar kington previously was an examiner for the FDIC in the State of Iowa. OMAHA: FirsTier, Inc. has named He is a graduate of the University of three vice presidents: Donald D. Nebraska. Adams, George E. Turley and Clark H. Mattingly. Mr. Adams is in charge of government affairs for OXFORD: Security State Bank and FirsTier. Mr. Turley is auditor, and the Oxford Insurance Agency have Mr. Mattingly is deputy auditor. been sold by Dan and Betty Huff of Mr. Adams previously served as Lincoln. New owners are Dan Johan vice president and director of per sen and Associates of Oxford. Mr. sonnel for Omaha National Bank. Johansen will be the bank’s new Mr. Turley was a vice president at president. He has been with the Omaha National. Mr. Mattingly bank since 1979. No employee or served most recently as vice presi staff changes are anticipated in dent and manager of First National either business. Lincoln’s auditing division. department. Mr. Thornburg has been a national trust examiner with the Comptroller of the Currency for the last four and a half years. O’NEILL: Paul Mogen has been ap pointed vice-president/cashier at First National Bank of O’Neill. He has been employed for the past six years by the State Bank of Waubay, S. Dak. as cashier, assistant vice president and loan officer. VALENTINE: John C. Stevens has been elected president of the Bank of Valentine, replacing W.B. Huff man, who is retiring from active management. Mr. Stevens previous ly served as president of Citizens State Bank of Thedford. LAST CALL— “The Place to Arrive in ’85” is The Iowa Independent Bankers Annual Meeting & Convention “ lowans Helping lowans” July 18-20 The New Inn, Okoboji Some internationally known and interesting people await you: • Arthur Burck, president, Arthur Burck & Associates. • David S. Broder, political reporter, The Washington Post. • Iowa Congressmen Jim Leach and Neal Smith, 1st & 4th districts. And Iowa’s own: • • • • • • • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis John Chrystal, directly back from USSR. Michael Fitzgerald, State Treasurer. Tom Huston, Superintendent of Banking. Don Muhm, Farm Editor, The Des Moines Register. Bob Pirn, State Director, Farmers Home Administration. O. Jay Tomson, Director, Federal Reserve Bank of Chicago. Bea Smith, Wife of Congressman Neal Smith. M ARK YOUR CALENDARS AND SEE YOU THERE! We’re First Interstate H f with newnational connections! United Central Bank is now First Interstate Bank, the first Iowa franchise financial institution, with new, national connections and strategies to benefit our corre spondent partners. Our offices span the state, are capable o f delivering to your bank the finest correspondent services, now strengthened through part nership with the nation’s eighth largest banking organization. We welcome your inquiries about our expanded capabilities. Whether you’re our correspondent partner, or not, please call 1-800-362-1615. Ext. 7019 First »Interstate Bank First Interstate Bank Building 6th and Locust Des Moines, Iowa 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis — issa — ■ m 111 ■2 I ’í; ■ill ■ mm MS CRESCO ESTHERVILLE MASON CITY SPENCER ALGONA BODE WESLEY LUVERNE FORT DODGE • . DUNCOMBE SIOUX CITY BURNSIDE •• LEHIGH • HARCOURT • MARENGO . URBANDALE WEST DES MOINES • . DEg m 0INES ¡M|gS' KESWICK GREENFIELD h i . mmm B — I BÁ' *. 8 8 8 8 8 I ■ https://fraser.stlouisfed.org mmmSSSmm Federal Reserve Bank M of St. Louis wSmSSSi lM v . KALON/ * KINROSS SIGOURNEY Minnesota News BENSON: The Swift County Bank here was closed by State Commis sioner Michael Hatch and acquired by First Security State Bank, Sleepy Eye, through the transfer of approximately $37.7 million in in sured deposits. First Security will take over the Benson bank’s sole of fice as a branch. The Benson bank has approximately $38.5 million in deposits and over 8,400 depositors. The Sleepy Eye bank paid the FDIC a premium of $811,000 to take over the failed bank’s deposits. A high percentage of poor quality loans and assets partially related to the poor farm economy was sited as contri buting to the bank’s failure. MAPLE GROVE: Richard C. Ellefson has been elected vice president in charge of commercial banking at Norwest Bank Maple Grove, N.A. He was previously vice president and senior loan officer with Marine Bank, Beaver Dam, Wis. cd ioid zx a n d c ^ iio c L a tz i Bank Consultants Specializing in Bank Acquisitions P.O. Box 450 515-232-0814 405 Main Ames, Iowa 50010 D o nald E. H o lder, Principal FEATURE LISTINGS FOR JULY 14 Jobs for L.O. @ $45L to $50L 26 Jobs for Ag. L.O. @ $25L to $35L 22 Jobs for Cm. L.O. @ 527.5L to $40L 1- 800 - 821 - 1926 loo (In IL1-800-621-8433 ext 300) ^ O * " T 3 \ f° r th e execut i ve quest... the right chemistry The Discount Brokerage for Banks 2 offices, 7 affiliates Dial our 800 number. An officer of the firm will return your call. Clients: Why pay more? Ask for our comparative fee charts averaging 13% of 1st year’s salary Candidates: Current listings, 4 up dates per year gratis. Get on our computer: we’ll keep you up-to-date. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MINNEAPOLIS: The Independent Wisconsin News State Bank of Minnesota has an ARCADIA: James W. Schultz has nounced the election of William G. joined the State Bank of Arcadia as Rosacker as president and CEO. Mr. a vice president. Mr. Schultz has Rosacker has been continuously em had 16 years of experience with farm ployed in the banking industry for credit systems. over 16 years and most recently was senior vice president and manager of MARINETTE: Larry R. Nelson was the Marquette Bank Minneapolis, appointed senior vice president of the Stephenson National Bank and Southdale office. Trust of Marinette. Mr. Nelson had been employed at the First National Illinois News Bank in Marinette for nine years, On June 11, the Illinois House leaving as senior vice president. Financial Institutions Committee gave its endorsement to Senate Bill Wyoming News 525 which would permit regional in terstate banking on a reciprocal RIVERTON: American National basis with Indiana, Iowa, Kentucky, Bank of Riverton was closed June Michigan, Missouri and Wisconsin, 11 by H. Joe Selby, Acting Comp and defeated an amendment con troller of the Currency. The deposit taining a two-year nationwide trig liabilities of American National ger and provisions for the chartering have been assumed by First Wyom of limited service “ non-bank banks’’ ing Bank, N.A.-Riverton. The failed bank’s sole office was to have re in Illinois. The bill was scheduled to come up opened by June 13 as First Wyom for second reading on the House ing Bank, N.A., a newly-chartered subsidiary of First Wyoming Banfloor last Friday. corporation, Cheyenne. First Wyom The House Committee also ap proved Senate Bill 512, which would ing Bank, N.A. will assume approxi allow banks to have a total of five mately $36 million in 8,400 deposit full-service community service facili accounts and has agreed to pay the FDIC a purchase premium of ties. $463,000. It will also purchase cer AURORA: Aurora National Bank tain loans of the failed bank and has recently elected Karen Lee to other assets for $23 million. To facil the position of vice president and itate the transaction, the FDIC will Daniel J. Mrowinski as vice presi advance $12.6 million to the assum dent in charge of consumer loans. ing bank and will retain assets of the Ms. Lee has most recently served as failed bank with a book value of assistant vice president, commercial about $11 million. lending. Mr. Mrowinski was vice president at West Suburban Bank of Colorado News Lombard in the consumer, commer DENVER: David B. Hill has recent cial, and real estate lending areas. ly been elected president of United CHICAGO: James W. Aldrich has Bank of Fort Collins-South. He fills been elected president and chief ex the position created by the resigna ecutive officer of Northwest Na tion of Thomas Byington who is pur tional Bank of Chicago. He succeeds suing other banking opportunities. Fred W. Heitmann, Jr., who has Mr. Hill joined United Banks in become president of Northwest Na 1981. He most recently served as as tional’s one bank holding company, sistant vice president at United Northwestco. Mr. Aldrich comes to Bank of Fort Collins. the bank from Society National DENVER: Central Bank of Denver Bank, Canton, Oh., where he most has appointed J. Michael Arm recently served as executive vice strong as vice president and director president of lending for Society Na of the marketing division. He has 15 tional Bank of Eastern Ohio, a con years marketing experience, most solidated division for Society Na recently as senior vice president of tional’s affiliates. marketing at Union Planters Na Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 tional Bank of Memphis, Tenn. Pro moted to the position of vice presi dent and trust officer is Harlan L. Cyphers. He has served as a per sonal trust officer and assistant vice president in the trust department since joining the bank in 1972. B A N K E R ’ S E Q U IP M E N T S E R V IC E , IN C . YOUR B A N K IN G M A C H IN E S PE C IA LIS T S IN C E 1937 11561 12TH AVENUE SOUTH BURNSVILLE, M INNESO TA 5 5 3 3 7 (612) 89 0-6661 ^Q UALITY EQUIPMENT ^COMPLETE OPERATOR TRAINING Q>ERY COMPETITIVE PRICING a STRONG SERVICE SUPPORT We specialize in providing machines for financial institutions so when you are considering a machine purchase . . . GIVE US A CHANCE to demonstrate, discuss and propose. • SHARP teller machines (On Line/Off Line) • MICR encoders • Paper shredders • Currency/check/food stamp counters • Coin wrappers (automatic, desktop) • Electronic accounting machines • Coin sorters • Form bursters and trimmers • Coin changers • Form joggers/folders • Calculators (incl. wide carriage) • Date and time recorders • Calculators (financial) • Message display units • Check protectors/signers • Supplies • Cash settlement systems • Plus much more equipment C A S IO /C O M F W N Y MAGNER I B MAVERICK MICROSYSTEMS Let us prove that BANKER’S EQUIPMENT has the right equipment at the right price for your business! CALL: (612) 890-6661/Burnsville □ (507) 345-8553/Mankato https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CORPORATION POSITION AVAILABLE INVESTMENT OFFICER for small regional midwestern bank. Needs 10 years’ experience. Investment portfolio $250 million. Must have excellent credentials. Salary com mensurate with experience. Contact file WCV, c/o Northwestern Banker._________________________________(PA) Ag Banking Specialists Let us help w ith your career advancement or staffing needs. Call in confidence, w ithout obligation. Employ ers pay our reasonable fee to hire the best. COMMERCIAL LENDER w ith five or more years experi ence and college degree for bank in university com m unity ....................................................................... Salary $40,000 AG LENDER w ith college degree and lim ited PCA or bank experience for Northern Iowa bank ........ Salary to $25,000 Linda 515/394-5827 New Hampton, la. 50659 ! Jean 515/263-9598 (W/F) 712/779-3567 (M/T/TH) Massena, Iowa 50853 aqri careers, inc . J A 3 BANKING PERSONNEL SPECIAUSTB WANT TO BUY BRASS BANKER’S DESK LAMP w ith green glass shade. Call 515/473-2643. Ask for Sam. (WTB) FOR SALE TWO CHECKVEYER STORAGE UNITS, com plete w ith trays, in excellent condition. Contact Jeff Raines, Clarke County State Bank, Osceola, Iowa. Phone 515/342-6581. ____________________________________________ jFS ) Do you want to test a site? Have a temporary facility while you build? Contact Drommer Leasing, 401 Queens Court, Sioux Ci ty, IA 51104. Phone 712/239-2315.___________ _______ (FL) FOR SALE Omaha National Bank is offering for sale for cash, pursuant to written bids, 98.43% o f the out standing common stock of City Bank & Trust Co., Lincoln, Nebraska, and 98.76% o f the outstanding common stock o f Havelock Bank, Lincoln, Neb raska. Bids must be received by Omaha National Bank by August 14,1985. The bids w ill be opened and a public auction conducted to complete the sale of the shares of each of the banks in the sec ond floor conference room at Omaha National Bank, Farnam at Seventeenth, Omaha, Nebraska, on Thursday, August 15,1985 at 10:00 a.m. For further information, write or call Gary Parker, Omaha National Bank, Farnam at Seven teenth, Omaha, NE 68102, (402) 348-6260. BURROUGHS S558 AND S595 SINGLE POCKET PROOF MACHINES. Both currently under maintenance and in good working condition. Available immediately - $2,000 each or buy them both for $3,500. Buy now - we need the space! Contact Mike Mattson at First State Bank, Fre mont, NE (402) 721-2500. ________________________ (FS) D O N -ficH O O LE R In AND- 0 l W J ASSOCIATES PRESIDENT $80mm bank, 10,000+ town, mid west ..................................................$55,000-$60,000 AG LENDERS— 1-3 yrs PCA, FMHA, Bank lending. Openings in independent & holding co. IA banks. $20-50mm, salary $18-24K. Contact Barbara J. Ritta. NO. 2/COMMERCIAL LENDER—$40mm IA bank near college. 2 + yrs commercial lending & degree required. $30-40K. Contact Barbara J. Ritta. PROFESSIONAL RECRUITERS, INC. P.O. Box 24227 Omaha, NE 68124 1.800-225-2885 or In NE (402) 397-2885 POSITIONS AVAILABLE MORTGAGE LOAN • 3 positions. No degree - 3-5 years experience. Southern Dakotas $25-30K. REAL ESTATE LENDER Secondary Market experi ence, St. Louis area ..................................... $35,000 AG LENDERS - Nebraska & Iowa - 2-5 years experi ence. $22 to $30K. PRESIDENT $50-$75mm bank, 10,000+ town, mid west ................................................................$60,000 Richard L Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We’re Nationwide HEAD COMMERCIAL LENDER $122mm portfolio, 5 0 ,0 0 0 + town, midsouth ........................... $60,000 BOND DEPARTMENT MANAGER $3 billion bank, s o u t h ......................................................... $70,000 + BANK POSITIONS HEAD COMMERCIAL LENDER $70mm bank, Metro, m id s o u th ............................................$60,000 REAL ESTATE LOAN - large suburban bank. AVP to handle construction, commercial and some single fam ily residen tial loans. $25K PARTIAL LIST OF AVAILABLE BANKERS FOR FURTHER INFORMATION FOR THESE AND OTHER CANDIDATES RESPOND IN CONFIDENCE TO: M. KURT ROSENCRANTS AT (515) 244-4414 DATA PROCESSING MANAGER Auditing, south . ........................................................................ $35,000 INVESTMENT PORTFOLIO MANAGER $1.5 billion portfolio, south ............................................$70,000 REAL ESTATE COMMERCIAL, CONSTRUCTION LENDER $60mm portfolio, s o u t h ............... $50,000 Many years in bank management enables me to find the right banking environment for you, com pletely confidentially. Send your resume or phone: ALL FEES COMPANY PAID SR LENDERS—$30mm and $35mm MN banks and $120mm MT bank. Minimum 5 yrs experience re quired. Salaries $35K to $60K. Contact Pamela J. Swenson. COMMERCIAL LENDER - 3-5 years - central Iowa To $40K. TRUST MANAGER, EMPLOYEE BENEFITS Man age 1.5 billion fund, south ........................... $55,000 ® BANKING OPPORTUNITIES AG AND RE LOAN OFFICER— progressive $40mm central Wl bank. 2-5 yrs experience any size bank. Compliance an added plus. Degree not necessary. Mid $20’s. C ontact Pamela J. Swenson. CREDIT ADMINISTRATOR Small Holding Com pany, midwest ............................... $40,000-$42,000 PRESIDENT • Decisive leader of a $50mm+ ag based bank. Strong knowledge of clean-up from ag lending side with the patience and vision necessary to keep situations positive. $55K. l* M W rite or call Malcolm Freeland or Cy Kirk in care of Freeland Financial Service, Inc., 1010 Equitable Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. OPERATIONS - V.P. - Degreed. Need 5 years or more of operations plus some lending experience. To $35K. PRESIDENT $200mm bank, midsouth .. .$100,000 < M> 1M M > <M ► AG LENDER with five or more years proven ability for northern Iowa bank ....................................... Salary $32,000 SENIOR VICE PRESIDENT, HEAD OF LENDING $60mm bank, 10,000+ p o p u la tio n ............ $45,000 VICE PRESIDENT COM M ERCIAL LENDER $200mm Metro bank, midwest . . . $40,000-$45,000 with 3 + yrs In a metro bank ($100mm + dept). Personal estates, Investment and 100% NBD and a growth rate near double-digits. $35K. COMMERCIAL LENDER w ith three to five years experi ence in both commercial and mortgage le n d in g ................ ............................................................................ Salary $32,000 POSITIONS AVAILABLE HEAD COMMERCIAL LENDER $200mm portfolio, midwest lo c a tio n ......................................... $70,000 BANKERS AVAILABLE TRUST OFFICER/JD • Outgoing, personable trust officer AG LENDER for $23 m illion bank in northern Iowa ............ ..................................................................... Salary to $35,000 "S u cce ssfu l Banking is Q uality P e rson nel" CONSUMER LOAN OFFICER - Presently In charge of over $5mm In consumer end real estate loans. This diversified leader Is also dealing with small commercial loans and the new business development of new clients In all the above areas. $20K. COMMERCIAL LENDER w ith five or more years experi ence and college degree for $125 m illion midwest bank. Excellent fu tu r e ...................................................Salary open COMMERCIAL LENDER w ith three years experience and college degree for $50 m illion midwest b a n k ....................... ............................................................................Salary $30,000 Central Nebraska trust company with $46,000,000.00 as sets Is seeking a TRUST OFFICER. Trust experience and/or accounting background helpful. Salary commensu rate with experience. Send resume to file WDK, c/o Northwestern Banker.________________________________ (PA) COMMERCIAL LOAN OFFICER— excellent career oppor tunity. Contact: Larry Qelslnger, Senior Vice President, Hawkeye Bank and Trust, Spencer, Iowa at (712) 262-1940. (PA) Financial Careers CEO for $60 m illion independent mid-west bank. Immedi ate opening ......................................................... Salary open. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 COMML LOAN - $50MM suburban bank. Some R.E. experi ence helpful. Requires 2-3 yrs. bank lending. $26K EVP - manage all lending activities for $125MM suburban bank. Opportunity to assume #1 position. $55K AGRI-LOAN • $30MM com m unity bank. Handle all Ag cred its and some commercial accounts. $30K SECOND OFFICER • small suburban bank desires com mercial lender to supervise junior officers. $35K Additional opportunities available. All inquiries confidential. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 14 No. 10 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 mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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