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Des Moines, Iowa

Vol. 12 No. 10

Changes A h ead d Opportunities








(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.
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


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
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
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.

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
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
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 ...

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

Call Mark Christen for
any correspondent service.
Call toll free (800) 622-7262

Valley National Bank l§i
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.


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

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.

H | •mmM ->of Kansas O ta n.a|
.Member FDIC

m jr

United w e grow. Together.
KamasÇity, Missouri 64141 (646) 556-7900


Con**Po^ w ; ( , - 7 <» 0
Federal Reserve Bank of St. Louis
Federal Reserve Bank of St. Louis

<zH oCcLex and, cz/f-noaLate,*.
Bank Consultants
Specializing in Bank Acquisitions
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/
to make M NB
work for you.
Toll free
1- 800 - 332-5991

National Bank 151

M em ber F.D.I.C.

Federal Reserve Bank of St. Louis

An important new profit center
for your bank:


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
Banking, Financial & Business Personnel
Iowa and Nationwide

714 U.C.B. Building, 515-283-2545
Des Moines, Iowa 50309

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/

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.

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 .


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.

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
ence in lending and operations. Send resume to Diane
Good, c/o National Bank of Waterloo, 100 East Park Ave.,
Waterloo, Iowa 50704.
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.

BANKS FOR S A L E — $22MM-ldaho, $15MM-Colorado,
$16MM-Montana. Clean, profitable banks. Principals only.
Write file TBZ, c/o Northwestern Banker.

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.

$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.

$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)

HAVE BUYERS— Want bank in northern Illinois with total
assets of $25MM to $200MM. Write file UBA, c/o North­
western Banker.

All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma
President, $45mm, agricultural bank
Commercial Lender, lake area, $60mm bank


#2 Man, Ag Lender, small town

to $30,000

Vice President/Head of Commercial, metro

to $50,000

Leasing Officer, excellent location


President, $10mm bank, small town



to $30,000


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.
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.

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.

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.

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:

of Kansas City
2024 Swift - Box 12346
North Kansas City, MO 64116
“ 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.
Federal Reserve Bank of St. Louis