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• Des Moines, Iowa Vol. 12 No. 10 Changes A h ead ...an d Opportunities f ® ^ * ^ ^ ^ a ^ (The following is a special report from The Editor.) new element that management must learn to handle and that is stress— not only by management itself, but UR staff in recent weeks has at down the line by the entire staff tended state banker convenwhich is being subjected to stress tions in Colorado, Wyoming and ful, rapid changes. Minnesota, Nebraska, South Da 2. Liberalizing legislation, rather kota, North Dakota and Illinois. The dominant theme throughout all of than restrictive legislation, will ap them, as well as in similar banker parently continue unabated, wheth conventions around the nation, was er we like it or not. The concept of “ a level playing field” has been shot one of rapid change. It seems appropriate to make a down. People looking for loopholes few observations after hearing a to cut themselves into the banking number of excellent talks from ser- business without paying the price ious-minded professionals, as well as previously established, have forced a few “ panic” or “ threatening” type a change in the game plan. Congress apparently will not force them to of speakers. abide by banking rules, but will 1. There is no question about “ Change” being a crucial part of our liberalize laws to permit banks to lives today; however, so many speak become more like the “ interlopers.” ers approach the topic of “ Change” Consquently, it is imperative for today as though they had just in bankers to know how to “ shift vented the wheel, or discovered fire gears” and play on an entirely new and need to send out a Paul Revere field. 3. Accelerated change in the bank alarm! We have no wish to play os trich with change, but wish to put it ing business requires an aggressive in perspective—i.e., the emphasis leadership at all levels of manage should be on the increasing pace ment. The old, dumb theory that “ you can’t teach an old dog new with which “ Change” is being tricks” is being proven wrong again thrust upon us, and thoughtful speakers take time to emphasize as we see so many veteran bankers this point. W e’ve always had making “ Change” work for them in change; we will continue to have it. their banks. Additionally, the new, young Turks in banking are well Recognizing the increased pace helps us cope with it better. A prin educated, aggressive and anxious to cipal point of all this is that the in run. What it will boil down to (as it creasing pace of*“ Change” creates a has in the past, but many have not O June 27,1983 recognized it as such) is salesman ship—and those that sell their pro ducts best, and provide the best ser vice will be on top. 4. Throughout the years we have heard many “ dire” predictions— e.g., within the past few years we were told there would be anywhere from 500 to 5,000 surviving banks from the 14,000 then in existence. If that’s true, we ask, how come so many people want to buy a bank, or why are so many seeking charters nationwide? 5. Despite all the predictions, and now as part of the accelerating change, we hear more and more speakers at the conventions stress ing the bright future for community banks—“ you will be the survivors,” or “ people will stay locally where they know their banker.” We believed that five years ago, and so did our community banker friends who ig nored the cry of wolf, rolled with change and are stronger than ever. Complacency can’t be a part of the new game plan, however. But isn’t it interesting that what all these new entities like Sears, Merrill Lynch, et al, want is bank’s business? Since banks have it, and have more exper ience at being bankers than anyone else, the positive side of the coin is that banks are out in front! (“ If the others want to be like Coke, why not buy Coke?” ) Aggressive bank man agement and salesmanship will do what laws couldn’t do—head ’em off at the pass! □ Loan participation through us can help improve your bottom line For that reason, banks in Iowa depend on Correspondent Banker Dick Flesvig https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ♦ First Bank Saint Paul Member First BankcSystem Correspondent Banking Division 332 Minnesota Street Saint Paul, Minnesota 55101 (612) 291-5577 Norwest Bank Des Moines, N.A. NORWEST BANKS Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC Yearn work: one of the reasons we’re first in Iowa. Bernie Kersey Mark Conway Iowa News DES MOINES: An agreement has been reached whereby Banks of Iowa, Inc., will acquire by merger all of the outstanding common stock of The Montgomery County National Bank, Red Oak, announced Holmes Foster and Mark R. Mayne, respec tive bank presidents. Upon approval of regulatory authorities, the merger is expected to be completed during the first quarter of 1984. No changes in personnel or board of directors of The Montgomery National Bank are contemplated. DES MOINES: Larry J. Reding has joined Norwest Bank Des Moines, N.A., as vice president and manager of the bank’s newly formed agricul tural services department. Mr. Red ing previously was executive vice president of the Sac City State Bank, Sac City. DES MOINES: John L. Bailey has joined Norwest Leasing, Inc., as lease marketing officer for its Iowa region, based in Des Moines. Mr. Bailey joined Norwest Leasing from Norwest Bank Des Moines, N.A., where he was a second vice president in commercial lending. FORT DODGE: Gary W. Dorman has joined First American State Bank as ag representative. He for merly was with PCA in Yankton, South Dakota. RAVENNA: Melvin Fuller has been named assistant vice president at the Ravenna Bank. Mr. Fuller, whose main duties will be as a loan officer, previously was employed by the Farmers Home Administration in Broken Bow. Minnesota News MARION: Norwest Bank Marion Herbert A. Lund, president of recently announced the promotions of Kathrine Sigsbee and Raymond Security State Bank in Albert Lea, J. Schirmer to vice presidents. Ms. was elected president of the Min Sigsbee will be working in bank ad nesota Bankers Association for ministration. Mr. Schirmer will 1983-84 at the 93rd annual conven serve as chief financial officer. tion in Minneapolis last week. He Robert Harris, presently second vice succeeds John Ingebrand, president, president with Norwest Bank Oma Kanabec State Bank, Mora. Other ha, has been named vice president, officers elected are: 1st Vice consumer business group of the Pres.—Galen T. Pate, president, Marion bank effective July 5. Also Signal Hills State Bank, West St. Steve Knutson has joined the bank Paul; 2nd Vice Pres.—Clinton D. as assistant vice president in Kurtz, president, Citizens State Bank of Norwood, and Treas. (reelec agricultural loans. ted for second year)—James R. JorRENWICK: William D. Tufford has stad, president, Citizens State Bank been named president of Renwick of Hayfield. Truman L. Jeffers con Savings Bank. He has been with the tinues as executive vice president. bank as vice president since Feb * * * ruary 1 of this year, previously employed with the First National Truman Jeffers, executive vice Bank of Hampton since 1973. Virgil president of the Minnesota Bankers F. Tate, a local farmer and business man, has been elected as a director. Association, was elected president of the Minnesota Society of Associa SPENCER: G. Larry Owens has tion Executives, during the group’s been elected president and chief ex annual meeting at the Registry Ho ecutive officer of United Central tel, Bloomington. Bank of Spencer, N.A., effective Mr. Jeffers will lead the organiza August 9. He succeeds John W. tion of nearly 250 executives for a Rahn, who has resigned to pursue one-year term. other business interests. Named new vice president was Ronald C. Milbach, formerly vice president BRAINED: Marvin R. Campbell has and ag rep at Brenton State Bank, retired as chairman of Citizens State Bank. Ah open house was held at the Eagle Grove. bank to honor Mr. Campbell for his 43 years in banking, 12 of which Nebraska News were as president and chairman of OMAHA: Omaha National Bank Citizens State. He and his family has announced the naming of David moved to Brainerd in 1971. Professional ... Responsive... ELBOW LAKE: Steven Schmidt, former vice president in agriculture for United Central Bank of Spencer, Iowa, has joined the First National Bank in Elbow Lake in a similar po sition. Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank l§i DES M OINES, IOW A 50304 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis T. Conroy as vice president. Mr. Conroy, previously second vice pres ident, joined the bank in 1974 as col lections department head. A BANKS O F IOWA BANK Member FDIC MAPLE GROVE: Donald D. Gladson, manager of Norwest Insurance, Norwest Bank Maple Grove, will re tire June 30 after 30 years of service in the insurance business. He has Supplement to Northwestern Banker Newsletter 6-27-83 ut all the strength of United I Missouri’s Correspondent Banking Department to work for your bank. You’ll never again waste your precious time tracking down the latest changes in federal regulations. We keep up with the regulations and research for you. You’ll never again call bank after bank to find the services and systems you need to keep your w* bank running smoothly. We offer them all. United Missouri’s Correspondent Bankers have the answers to your questions. If your bank or your customers have a need, we’ll do our best to fill it. All in all, United Missouri juàt might be your best ally in the battle for profits. Discover how. C a l your United Missouri Correspondent Banker today. UNITED MISSOURI BANK H | •mmM ->of Kansas O ta n.a| .Member FDIC m jr United w e grow. Together. KamasÇity, Missouri 64141 (646) 556-7900 t ■M£SM,L£DS£^ Con**Po^ w ; ( , - 7 <» 0 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis <zH oCcLex and, cz/f-noaLate,*. 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 been with the Maple Grove bank since 1963. MARSHALL: Richard G. Hurdelbrink has joined First American Bank & Trust as senior vice presi dent, loans. In his new position, he will direct, coordinate and control the loan activities of the bank and First American Credit Company. Prior to joining the bank, Mr. Hurdelbrink served as senior vice pres ident of United Bank of Bismarck.. MINNEAPOLIS: Norwest Corpora tion has appointed the following three as vice presidents: Clyde R. Keller, human resource develop ment; R. Wayne Parchman, employ ee relations, and Ollie P. Yates, Jr., compensation and benefits. In addi tion, Linda K. Bowden was named as new director of personnel. Illinois News CHICAGO: Richard Rastetter, Sr., a retired executive with Continental m: /M H/ ASK S TA N FARM ER to make M NB work for you. Toll free 1- 800 - 332-5991 Merchants A National Bank 151 M em ber F.D.I.C. A BANKS OF IOW A' BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis An important new profit center for your bank: Contact: Leroy Bell or Milt Hennick 319- 291-5412 ■ wrnwm a computerized local billin^credit service National Bank of Waterloo 315 East 5th St. • W aterloo, IA 5 0 7 0 4 Bank, has been named first vice president and senior loan production officer of Indiana National Bank, In dianapolis. He will head a new Chi cago loan office for the bank, located at Three First National Plaza. The office will be the bank’s first out-ofstate loan production office. Mr. Rastetter, who retired from Con tinental Bank September 30, 1982, was at one time in charge of cor respondent bank business in the Iowa-Illinois area. His title at the time of his retirement was senior vice president and head of the loan administration division. CHICAGO: Arthur J. Theriault has been elected executive vice presi dent of Amalgamated Trust & Sav ings Bank. Mr. Theriault previously was vice president of bond and treasury services at Continental Bank, which he joined in 1967. EVANSTON: Howard B. Silverman, president and chief executive officer of First National Bank and Trust Company, has been named to the additional post of chairman, ef fective July 1. He succeeds Harland L. Edwards, who retires at that time. Mr. Silverman joined the bank in 1970 from Continental Bank of Chicago. Mr. Edwards retires after 43 years in banking. He has served as president of the bank since 1976 and chairman since 1980. South Dakota News ARLINGTON: Wayne Fischer, for merly vice president of loans at the State Bank of Waubay, has joined the staff of Citizens State Bank in Arlington as vice president and senior loan officer. PRESHO: Russell Stone has been elected president of First Bank Presho. Mr. Stone had been serving as vice president of First Bank Get tysburg, a position he has held since 1973. He originally joined the Get tysburg bank in 1965. Member Federal Reserve System FDIC North Dakota News M AND AN: Dennis E. Wang has been promoted to agricultural loan officer of Norwest Bank Mandan, N.A., according to J.E. Noonan, chief executive officer and chairman. Mr. Wang joined the bank in 1980. Wyoming News Don H. Babbitt, president of Stockgrowers State Bank of Worland, was elected president of the Wyoming Bankers Association for 1983-84 on June 16 at the 75th W BA convention at Jackson Lodge, Moran. Mr. Babbitt succeeds Henry A. Hitch, president, First Interstate Bank of Casper, N.A. Other officers elected are: 1st Vice Pres.—Robert T. Noel, executive vice president, Affiliated Bank Corporation, Chey enne; 2nd Vice Pres.—Hale Kreycik, president, The Converse County Bank, Douglas. M. Clare Mundell, Laramie, continues as executive vice president for the coming year. RAWLINS: First Wyoming Bank, N.A.-Rawlins recently celebrated the 100th Anniversary of its found ing with a community barbecue. The City of Rawlins proclaimed Thurs day, May 26, as First Wyoming Bank Day and about 800 people turned out to join in the festivities. Governor Ed Herschler presented bank president Robert W. Pappenheim with a certificate of apprecia tion from the State of Wyoming, and the Rawlins Chamber of Com merce Ambassadors saluted the bank with a song and a certificate of recognition. SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 W A N T ADS Rates are$5.00 per line per insertion. Add $3.00 tortile letters per insertion. Identity of file letter advertisers cannot be revealed. N O R TH W E S TE R N B A N K E R , 30615th Street, Des Moines, Iowa 50309. Phone 515/ 244-8163. Ag Banking Personnel Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi dential. Employers pay us to hire the best. POSITIONS AVAILABLE CEO for $60 million northern Iowa bank. Must have solid ag credit and administrative experience......... Salary Open Number Tw o person for larger western Iowa bank............... ........................................................................ Salary to $40,000 Commercial Lender for major bank in central Iowa............. ........................................................................ Salary to $40,000 Senior Ag Lender for central Iowa ba nk.. Salary to $30,000 CEO for community bank in eastern Iowa. Salary to $33,000 Number Tw o Person for northwest Iowa bank...................... ........................................................................ Salary to $30,000 Installment Officer for northern Iowa bank Salary to $24,000 Operatlons/lnsurance person for northwest Iowa b ank.. . . ........................................................................ Salary to $25,000 Linda: 515/394-5827 Jeannie: 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 $ Massena, Iowa 50853 dqn CAR&IS, IN C . J THE ORIGINAL AGRICULTURAL RECRUITER Audltor/CPA for progressive western Iowa bank................. ................. Salary to $25,000 Auditor for major South Dakota bank............... Salary Open Ag Lender for southern Minnesota bank. Salary to $30,000 Commercial Lender for Wisconsin bank. Salary to $30,000 Write or call Malcolm Freeland, Freeland Financial Ser vices, Inc., 1032 Carriers Bldg., Des Moines, IA 50309. Phone 515/282-6462. Employer pays fee. Affiliated Midwest Bancs Inc., a progressive group of six banks is looking for a COM M ERCIAL LOAN O FFICER for a $33 million bank in S.E. Nebraska; and an AGRICULTURAL LOAN O FFICER for a $60 million bank in central Iowa. Prefer 3-5 years experience for both positions. Salaries commensurate with experience. Send resumes to Jack Ayres, P.O. Box 486, Bellevue, NE 68005. (PA) EXECUTIVE BANK RECRUITING Why Not a Higher Paying Position? Call us and lets talk about your banking career. R.E.B. & Associates Executive Search Consultants 13625 C. St., Omaha, Nebraska 68144 Phone: 402/333-8248 or 333-6604 The National Bank of Waterloo, Iowa, has opening for a CORRESPONDENT BANK OFFICER. Need strong experi ence in lending and operations. Send resume to Diane Good, c/o National Bank of Waterloo, 100 East Park Ave., Waterloo, Iowa 50704. (PA) COM M ERCIAL LOAN O FFICER for $70 million bank located in southern Iowa. Experience with knowledge of all loan areas. Salary commensurate with experience. Ex cellent benefit package and chance for advancement. Send resume to file UBC, c/o Northwestern Banker. (PA) FOR SALE BANKS FOR S A L E — $22MM-ldaho, $15MM-Colorado, $16MM-Montana. Clean, profitable banks. Principals only. Write file TBZ, c/o Northwestern Banker. (FS) AG LENDER— 2nd person in $16 million north central Iowa bank. 3-5 years experience in all phases of lending and col lecting. Administrative and/or operations experience a plus. Excellent advancement opportunity. Send resume to Bill Tufford, c/of Renwick Savings Bank, Renwick, Iowa. 50577.______________________________________________ (PA) NCR USERS— Buy from Mountain States Paper and save! For all your paper and MICR ribbons for the NCR 775,7750, 7760, 7740. Call toll free and receive 10% discount! 1-800-442-2829 WY. 1-800-523-8368 other states. Serving the banking industry. (FS) $60 million southeast Iowa bank in great community needs individual to perform personnel, audit and com pliance functions. Excellent benefits. Salary commen surate with experience. Send resume, salary history and requirements to file UBD, c/o Northwestern Banker. (PA) MARKETING MANAGER $104 million in assets, 32,000 member credit union. Quali fied applicants only. Please send resume to: Layton M. Stump, Manager John Deere Employees Credit Union P.O. Box 6000 Waterloo, Iowa 50704 <pa) W ANT T O BUY HAVE BUYERS— Want bank in northern Illinois with total assets of $25MM to $200MM. Write file UBA, c/o North western Banker. (WTB) POSITIONS AVAILABLE All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma President, $45mm, agricultural bank Open Commercial Lender, lake area, $60mm bank $28,000 #2 Man, Ag Lender, small town to $30,000 Vice President/Head of Commercial, metro to $50,000 Leasing Officer, excellent location $27,000 President, $10mm bank, small town $35,000 POSITIONS AVAILABLE to $30,000 BANKERS AVAILABLE Commercial Vice President, métro to $54,000 Head of Crédit Department, métro to $38,000 CEO with proven high performance record in community bank seeks new opportunity..........................Salary $45,000 Senior Operations Officer, small town Positions available change as more openings become avail able or as positions are filled. If you are interested in making an advancement or change in your present situation, as a candidate registered with me, you will be informed as posi tions come available that would appeal to you based on what YOU want in a bank, in salary, in location, and in size of town or city. I do not reveal your name to a client bank un til you are interested in interviewing. Eighteen years of banking service as President of both.rural and metropolitan banks enables me to find the right bank ing environment for you. Phone or send resume to: Don W. Schooler, 901 A. West Jackson, Ozark, Missouri 65721. Phone (417) 485-6020. "Successful Banking is Quality Personnel " _______ Banking Employment Service______ Commercial Lenders with experience ranging from three to 20 years....................................................Salary to $50,000 AGRI LO AN — head ag lending function for $60MM com munity bank. Prefer ag degree and 5 years experience. $30,000 COMM ERCIAL LO AN — handle commercial and real estate credits for $50MM suburban bank. Degree desired. $28,000 Senior Ag Lenders with experience ranging from 5 to 20 years..............................................................Salary to $40,000 O P E R A TIO N S — challenging operational position in $45MM community bank affiliated with large midwestern holding company. $35,000 Junior Ag Lenders with one to five years experience. ....................................................................... Salary to $25,000 PRESIDENT— solid lending and administrative experience required for community bank of $40MM. Open Administrative Officers with major banking experience. ....................................................................... Salary to $50,000 CASHIER— $50MM bank situated close to a major urban area. Minimum 5 yrs banking experience plus degree. $32,000 Installment Lenders with over five years banking ex perience........................................................Salary to $25,000 Operations people with over five years experience............. ....................................................................... Salary to $30,000 If you are considering an additional officer, we have dozens of qualified applicants listed in most job cate gories. Write or call Malcolm Freeland c/o Freeland Finan cial Services, Inc., 1032 Carriers Bldg., Des Moines, IA 50309. Phone 515/282-6462. Employer pays reasonable fee. All inquiries confidential. Contact: TOM HAGAN & ASSOCIATES of Kansas City 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 No. 10 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, $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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