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Vol. 13 No. 7

Des Moines, Iowa

Continental W oes Stall Bank Bill
ANKING legislation that seemed
certain to proceed in Congress
this session was shunted to a side­
track in recent days as concern over
the stability and long-term future of
Continental Bank of Chicago occupied the main line on Capital Hill.
But the quick reaction of the Federal
Reserve and nearly 30 major U.S.
banks to shore up Continental’s cap­
ital needs cut the rumor-mongers
short and appears now to have re­
started the legislative clock on bank
legislation.
Two weeks ago, Sen. Jake Garn
(R., Utah), chairman of the Senate
Banking Committee, had planned to
have markup completed by the end
of May on his bill to broaden bank­
ing powers to include real estate and
discount brokerage—-with an outside possibility of including in­
surance. The problems of Continen­
tal surfaced in mid-May and caused
Sen. Garn to delay mark-up until
after Memorial Day, so that process
is expected to take place this week.
If a bill is finally agreed upon, it will
go to the Senate floor.
It was predicted by Washington
observers earlier in the month that
Rep. Fernand R. St Germain (D.,
R.I.), chairman of the House Bank­
ing Committee, would wait to see
how the Senate banking bill fares
before making his move. Financial
news of the past two weeks also
made that prediction a washout

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when Rep. St Germain and Rep.
Chalmers Wylie, the House ranking
m inority member, co-sponsored
HR5734. That bill calls a screeching
halt to loopholes in current banking
law, but allows no further banking
powers. Rep. St Germain said this is
being done “ so that, if necessary at
a subsequent time, we may address
the needs of depository and other
types of financial institutions in a
less emotional atmosphere without
the pressure of the times that are

now upon us.” His bill has two
dozen other sponsors and appears to
be gaining momentum.
The American Bankers Associa­
tion, through its Leadership Confer­
ences, has expressed support pre­
viously for the Garn Bill. The only
missing major power A B A members
really want is the insurance feature,
and there is always the possibility it
could be added by amendment either
in committee or on the floor.
Some Congressional members
were expressing concern over the
Continental situation after being
besieged by representatives of the

June 4,1984
securities, real estate, insurance and
home building industries, who were
trying to sell the message that
“ banks can’t handle the powers they
have now.” The A B A immediately
countered with the logical explana­
tion that the problem is not with
powers banks presently have but
with the fact that while one side of
the ledger has been deregulated the
other must be deregulated to
achieve a balance. FDIC Chairman
William F. Isaac said this situation
shows why additional deregulation
is needed.
The Independent Bankers Associ­
ation of America also supports the
Garn Bill, with modifications. It
favors closing loopholes and expand­
ing powers, but opposes regional
banking and the payment of interest
on demand deposits. An IB A A
spokesman said the organization
representing more than 7,000 of the
nation’s independent banks also
favors the St Germain Bill—“ even
though it doesn’t have additional
powers it closes loopholes in exist­
ing law and it has nothing we op­
pose.”
On the Illinois legislative front,
Continental Bank lobbyists are try­
ing to persuade the legislature to
pass a bill that would permit Conti­
nental to consider potential merger
partners outside of Illinois. The Illi­
nois Bankers Association’s stance,
supported by First National Bank of
Chicago, is that all in-state solutions
should be exhausted before out-of-

CALL ON THE “PERFORM ANCE TEAM ”
where common transactions

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Federal Reserve Bank of St. Louis

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I
FIRST NATIONAL LINCOLN
13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C.

are handled uncommonly well.

president and director o f data pro­
cessing. Mr. Petersen has been with
Bankers Trust since January, 1983,
most recently as vice president and
cashier. Mr. Getting joined in 1978
as a programmer, and was named
manager of systems and program­
ming in 1979.
M AD RID : City State Bank o f Mad­
rid celebrated its 50th anniversary
with an open house May 24.

state action is considered. The Illi­
nois legislative session in this elec­
tion year runs to June 30 and nor­
mally considers revenue and appro­
priations measures.

Iowa News
The Iowa Bankers Association is
offering the Iowa General School of
Banking, June 17-22 at the Univer­
sity of Iowa, Iowa City. The pro­
gram this year is substantially re­
vised from previous years. The first
year curriculum was developed by
David Friedman, an economist,
author and banking instructor.
A new computerized program
called BankSim will be utilized at
the School. Students in groups will

run their banks over a simulated one
and one-half years.
Interested bankers should con­
tact the Iowa Bankers Association
at 515-286-4300 or 1-800-532-1423.
COUNCIL BLUFFS: Jay G. Starr
has been named president of First
Bank of Council Bluffs, succeeding
his brother, Frank Starr III, who
will retain his positions as chairman
and chief executive officer. Jay Starr
started his banking career with
First Bank and Trust o f Carter Lake
and was president of that bank when
it expanded to Council Bluffs. He
then served as executive vice presi­
dent o f Starr Corp. in Lakewood,
Colo., before returning to Council
Bluffs.
DES MOINES: William J. Duma
has been appointed vice president in
the Iowa correspondent/corporate
services division of United Central
Bank of Des Moines. He previously
was with Barclay’s American Busi­
ness Credit, Inc., where he has been
since 1982. Prior to that he was with
First National Bank in Minnetonka,
Minn., where he was a director, pres­
ident and chairman.

ASK
LYNN W H ITEM A N
to m ake MNB
w ork for you.
Toll free
1-800-332-5991

Merchants
A
National Bank 151

Member F.D.I.C.

A BANKS OF IOWA BANK

THURMAN: Martin L. McCartney
has been promoted to vice president
of United National Bank of Iowa, ac­
cording to Mike Keim, president.
Mr. McCartney will assume the
management of the bank’s new of­
fice in Sidney, which is scheduled to
open by June 1.
WAUKON: Waukon State Bank re­
cently elected James E. Sweeney as
senior vice president and cashier.
Mr. Sweeney most recently was affi­
liated with Leadfree Enterprises as
executive vice president.
W E VER: William W. Burk, past
president o f the Farmers Savings
Bank here, died May 22 at Burling­
ton Medical Center.

DES MOINES: Bankers Trust Com­
pany has announced the promotion
Nebraska News
of Kenneth H. Petersen to senior
vice president and senior operations BELLEVUE: John S. Reinhart, 55,
officer, and Ray C. Getting to vice who helped start the First National

Advantage
Competition in today’s banking
game is fierce. To win, you
need the advantage of strong
correspondent banking services.
For an impressive line up, get the
score from Bernie M iller at
American Trust & Savings Bank. Call
319/582-1841 for the advantages.

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American ^Irust v Savings Danl^
.The DanKqf Opportunity


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Federal Reserve Bank of St. Louis

SIOUX CITY: Richard C. Taylor
will relinquish his duties as presi­
dent o f First National Bank on July
1, it was announced recently by di­
rectors of the bank and directors of
Bank o f Iowa Inc., which owns First
National. Mr. Taylor will continue
with First National as a consultant
and will maintain an office in the
bank. He joined the bank in 1961
and has been president the past 10
years. Announcement o f a new presi­
dent for the bank is expected in the
near future.

Town Clock Plaza

Dubuque, iowa 52001
Member FDIC and FRS

Supplement to Northwestern Banker Newsletter 6-4-84

There's no substitute
for finely-tuned
investment
y y
hen it com es to investm ents—
. w 1long-term or short-term —nothing
outperform s quality.
And when it comes to quality, no one beats
the outstanding track record of United M issouri’s
Investm ent Banking Division. Sound bond
portfolio recom m endations are our business.
They have been since the 1920’s.
You can rely on our ability to adapt in this
changing financial world. Today and tomorrow,
your bond portfolio w ill benefit from our
consistently high standards.
C all or w rite United M issouri Bank today.
W e’ve m astered the a rt of quality.

|

I

Investment Banking Division

UNITED MISSOURI BANK

City,fn.a.

United we grow. Together
B H IIB B a
ffe i

. .
10th and Grando P.O.Box 226
Kansas City, Missouri 641 f t o (816) 556-7200


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Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 6-4-84

1984 B an k D ire c to rie s
N o w A v a ila b le . . .
Accurate, up-to-date information on every bank
in the state, concerning:
• Officers and Directors
• Deposit, Loan and Securities figures
• Other offices away from main bank
• Addresses and phone numbers
• Departments within the bank and their officers
• Correspondent banks used

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N E W 1 9 8 4 E D IT IO N S

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£ 5 ;

Send me_________ copies of the 1984 edition of the
IOWA Bank Directory at $12.00 per copy.
Send me_________ copies of the 1984 edition of the
NEBRASKA Bank Directory at $8.00 per copy.

Nebraska — Nearly 200 pages.
Iowa — Over 300 pages.

Our check is enclosed for $________________ (add state tax:
Iowa @ 4 %
Nebr. @ 4 % )
Com pany N am e____________________________ _______________ _______ ______

CONVENIENT TO USE...lies flat
for reading or copying (pages
3 1/a " x 6 V2 ").

O fficer N am e_____ _______ _____________________________ ________________
P.O. Box or
Street Address
______________ ___________________________ ________ '
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Orders shipped by return mail

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City and S ta te ___________________________________________Z i p ____________
Phone _ ____________________________________________________

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A rea Code

NORTHWESTERN BANKER

306-15th St.

Des Moines, Iowa 50309

Send Your News Today to the NORTHWESTERN BANKER

TELL US ABOUT. . .

306 Fifteenth Street
DES M O IN ES, IOW A 50309

Staff Changes
Business Campaigns
Mergers, Consolidations
New Departments at the Bank
Remodeling or New Building

BANK .......................................................................................... .....
OFFICER .............................................................................TITLE
CITY


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Federal Reserve Bank of St. Louis

STATE

Open Houses
Anniversary Parties
Deaths or Retirements
Speeches Made by Bank Officers
Special Announcements to the Public

^

LINCOLN: Karl E. Dickinson, 59,
senior vice president of American
Charter Savings and Loan and for­
mer president of Gateway Bank and
Trust Co., died May 14 of a heart at­
tack. He served as an executive of
Gateway Bank for 20 years, serving
nine years as president, before being
named vice chairman of the Gate­
way board. He also served as presi­
dent o f the Nebraska Bankers A sso­
ciation in 1978-79.

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Bank of Bellevue approximately 20
years ago and served as its first
president, died last month. He had
been ill since undergoing a heart op­
eration several months ago.

Hj

Call on FNB for assistance
with all your investment and
cash management needs.
/ ¿ ¿ fir * * * » -

GARY STEVENSON/VICE PRESIDENT

712/ 277-0618

First National Bank m

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Member FDIC • P.O. Box 3248, Sioux City, Iowa 51102 • A BANKS OF IOWA' BANK

Walston has been elected chairman
of Siouxland National Bank. Dr.
Walston practices general medicine
in South Sioux City.

loan portfolio...losses finally ex­
hausted the bank’s capital funds, re­
sulting in its insolvency.’ ’ First Na­
tional of Shakopee assumed about
$13.4 million in 2,500 deposit ac­
counts, including $2.5 million in bro­
kered deposits in 25 accounts, and
paid the FDIC a purchase premium
of $780,000. It will also purchase the
failed bank’s installment loans, se­
curities and certain assets. FDIC ad­
vanced cash amounting to $7.9 mil­
lion to First National o f Shakopee
and retains assets of the failed bank
at a book value of approximately
$9.5 million.

NORTH PLATTE: Jim Mazour has
joined American Security Bank as
Minnesota News
vice president, agriculture loans. He
The Minnesota Bankers Associa­
previously served as vice president tion received confirmation last week
and director of credit for PCA in that Sen. Jake Garn (R„ Utah),
southwest Iowa, where he has been chairman of the Senate Banking
the last six years.
Committee, and FDIC Chairman
William
Isaac will address the an­
PIERCE: Foster Cooperative Credit
nual convention June 12. Sen. Garn
Association of Foster received ap­
proval from the FDIC to become a will join Sen. Rudy Boschwitz of
branch of Cones State Bank, Pierce, Minnesota for presentations at the
first general session Tuesday morn­
on May 9. Douglas Ketelsen, pre­
ing.
Chairman Isaac will be the final
sent co-op manager, has been named
South Dakota News
speaker
that morning. A B A Presi­
branch manager of Cones State
dent C. Robert Brenton will then be ABERDEEN : The board of First
Bank-Foster. Combined total assets
the
first speaker at the second gener­ Bank of South Dakota has elected
are $32 billion.
Jack M. Thompson, chairman and
al session Wednesday morning.
chief executive officer, and Gary L.
SCHUYLER: Lee Bachand has
joined the Wagner Banking Group BRAIN ERD : First American Bank Scofield, president and chief operat­
in the newly created position of chief recently announced the appoint­ ing officer, of First Bank Aberdeen.
executive officer. The W agner ment of Robert Verkennes as vice Mr. Thompson will continue as de­
Group has interest in 14 banks with president of commercial loans and puty chief executive officer of First
total assets exceeding $250 million. business development. Before mov­ Bank of South Dakota and head of
Prior to joining the Wagner Group, ing to Brainerd, Mr. Verkennes was its northeastern division. Mr. Sco­
Mr. Bachand was a senior vice presi­ with Norwest Bank, South St. Paul. field joined First Bank o f South Da­
dent at Norwest Bank Omaha, N.A. PRIOR LAKE: The FDIC announced kota in 1981 as vice president and
manager o f the main office in Sioux
SHELBY: Douglas Zoerb has been May 24 that deposit liabilities of Falls.
named to succeed David H. Knust First National Bank here have been
as president of the First National assumed by First National Bank of GETTYSBURG: Bryon M. Bennes
Bank o f Shelby. Mr. Knust resigned Shakopee, which reopened the Prior has been elected senior vice presi­
effective April 15. Mr. Zoerb had Lake institution May 25 as a branch dent and chief operating officer of
been serving as vice president at the of Shakopee. Senior Deputy Comp­ First Bank Gettysburg. He succeeds
Lexington State Bank & Trust Co. troller Michael A. Mancusi said he Loren Miller, who resigned. Mr.
closed the bank on May 24 because Bennes began his banking career in
in Lexington.
“ The bank experienced a substantial 1978 when he joined First Bank Mil­
SOUTH SIOU X CITY: Dr. James deterioration in the quality of its ler.

RISMiLLER,
WEAVER
AND YAKE
Getting it done for you.
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dSwrE

MR

St

Chairman

Ernie Yake
President

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Senior
Vice President

Commerce Bank of Kansas aty A
M E M B E R FDIC
FDIO
MEMBER


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Federal Reserve Bank of St. Louis

Tp lpn hn np (816) 234-2000
934-9000
Telephone

V

Wyoming News
CASPER: Cathy Sears has been
elected vice president and senior
trust officer of First Interstate
Bank of Casper. Formerly a vice
president and trust officer, Ms.
Sears has been with First Interstate
Bank for the past 14 years.
RAW LINS: Rawlins National Bank
has named Mark Owens as its new
president. A banker for approx­
imately 20 years, Mr. Owens pre­
viously served as president of Cen­
tral Bank of Broomfield, Colo., which
he helped open eight years ago.

Montana News
The Montana Bankers Associa­
tion real estate committee will be
sponsoring its 1984 Real Estate
Lending Conference, June 14-15 at
the Billings Sheraton Inn.
Highlighting the conference will
be Scott Potter with MGIC, Los
Angeles.

Ag Banking Positions
Let us help you. Call the ag lending personnel
specialists w ithout cost or obligation. Confidential.
Employers pay us to hire the best.
AG DEPT. HEAD— For $60+ m illion independent
bank in IA. Oversee $15 mil. ag loans and supervise
loan officer. Requires 5-10 yrs. ag lending experience,
strong analytical & decision making ability. Good
chance to move up to overall management. $30-$40K.
AG-COMMERCIAL LENDER— For $70 m illion major
holding co. bank in IA. Requires 5 yrs. ag lending ex­
perience. W ill handle $8 m illion in loans. Good ad­
vancement in holding co. $30,000.
Jean 515/263-9598 if
no answer, 712/779-3567
Massena, Iowa 50853

Linda 515/394-5827
New Hampton, la. 50659

dqnCARERS, INC.
■ J AG BANKING SPECIALISTS

LUCY MURPHY
“B anking S p e c ia lis t”
7625 Metro Boulevard • Suite 350
Minneapolis, Minnesota 55435
Phone (612) 835-4466

MANAGEMENT
l u l l RECRUITERS

■ M h m
OF MINNEAPOLIS
THE SEARCH AND RECRUITING SPECIALIST

Financial Careers
President for $50 million Illinois bank. Must have proven re­
cord.........................................................................To $70,000.
Number Two banker w ith commercial and ag lending
record for Iowa bank in $50 m illion deposit range..............
............................................................................... To $42,000.
Cashier for $30 million southern Iowa bank. Ideal working
conditions and recreational area...................... To $28,000.
Number Two person for southern Illinois bank. Excellent
s itu a tio n ................................................................ To $35,000.
Ag Lender for $60 m illion northern Iowa bank. Opening
due to retirement. Nice com m unity.................. To $28,000.
Commercial Lender for southern Minnesota, multi-bank
holding company bank.........................................To $30,000.
Commercial Lender for large western Iowa bank. Requires
at least 5 years experience with larger b a n k .. .To $35,000.
Number Two person for northeast Iowa com m unity bank.
............................................................................... To $35,000.
Lender for $50 m illion bank located in lake areaTo $28,000.
Auditor w ith CPA degree and bank experience for major
eastern Iowa bank........................................................ Salary open.
Loan Review Officer for major bank holding co m p a n y.__
...............................................................................To $35,000.
Ag Lender for northeast Iowa com m unity bankTo $30,000.
Ag Lender for community bank located on M ississippi........
..................................................................................To $25,000.
Ag Lender for $100 million Iowa bank. Requires college de­
gree and bank experience....................................................To $30,000.
Commercial Lender with five or more years experience for
$300 million Illinois bank...............................
Salary Open.
Write or call Malcolm Freeland or Cy Kirk at Freeland
Financial Service, Inc., 1010 Equitable Building, Des
Moines, Iowa 50309. Phone 515/282-6462. Employer pays
fee, and we have many other opportunities.

BANK SALES AND PURCHASES
POSITION AVAILABLE
SENIOR COMMERCIAL LOAN OFFICER—$100 m illion as­
set eastern Nebraska bank desires seasoned commercial
loan officer to manage portfolio. Salary commensurate
w ith experience. Contact 402/727-1100.
(PA)
VICE PRESIDENT/AQRICULTURAL LOANS— Excellent career opportunity. Requires bachelor’s degree (emphasis in
agricultural subjects preferred) and a minimum of 3 to 5
years experience in ag lending. The individual must pos­
sess a working knowledge of agriculture, including the
production of grain and livestock. Salary commensurate
with experience, plus excellent benefits. Contact: Steven
L. Afdahl, President, Hawkeye Bank and Trust, P.O. Box
4068, Spencer, Iowa, 51301. Phone (712) 262-1940. Member
Hawkeye Bancorporatlon.
(PA)
COMMERCIAL LOAN OFFICER— Experienced lender to
fill new office r position created by loan growth. Minimum
5 years commercial lending experience required. Send re­
sume and salary requirements to: Roger A. Wichelman,
Pres., First National Bank of Waconia, Klein Bancorporation Inc., Box 85, Waconia, MN 55387.
(PA)
AGRICULTURAL LOAN OFFICER in SE Iowa w ith three to
five years experience in ag lending. Need to have know­
ledge of cash flows, financial statements, and documenta­
tion. Send resume to file WBH, c/o Northwestern Banker.
______________________________________________
(PA)
INSURANCE AGENT $26 million southwest Minnesota
community bank seeks experienced insurance agent.
Salary open. Send resume to file WBK, c/o Northwestern
Banker.
(PA)
CASHIER—$20 m illion central Iowa bank near Ames and
Des Moines. Should have a minimum 3-5 years bank exper­
ience. Would also make loans. Salary based on ability and
experience. Good fringe benefits. W rite file WBM, c/o
Northwestern Banker.
(PA)
CEO—$25 m illion bank in western Iowa town of 1,800.
Must have strong ag lending background. 20% ownership
available at excellent terms. Send resume immediately to
file WBL, c/o Northwestern Banker.
(PA)
LOAN OFFICER— Promotion creates opening for experi­
enced lender to handle sound portfolio of small to medium
retail, wholesale and manufacturing accounts in a pro­
gressive bank located in a solid agri-business community.
Send resume in confidence to: First National Bank, Box
658, Montevideo, MN 56265.
(PA)
COORDINATOR—Agri and consumer banking program.
Bachelors degree and certification required. Send letter,
resume, transcript and credentials to: James F. McNeal,
ass’t. superintendent, administrative services, Iowa Cen­
tral Community College, 330 Ave. M, Fort Dodge, IA 50501
by June 8, 1984. Equal opportunity/affirm ative action
employer.
(PA)

EDDIE A. WOLF
Eddie Wolf Bank Sales
7202 Maple Drive, Des Moines, la. 50322
Phone: 515/278-2271

WANT TO BUY
AUXILIARY MODULAR BANK BUILDING— 1,500-2,500 sq.
ft. Must be movable. Write file WBI, c/o Northwestern
Banker.
(WTB)

FOR SALE
NCR 279-100 TELLER MACHINES— NCR 279-200 TELLER
MACHINES. All eligible for maintenance. Contact: Omaha
Computer Exchange. Phone 402/333-3203.
(FS)
BURROUGHS L-3000—Contact Brian, phone 515/562-2696.
_________________(FS)
2 BURROUGHS S-500 SINGLE POCKET PROOF MA­
CHINES—Contact Mel Bunde, phone 402/463-6611. City
National Bank & Trust, 800 W. 3rd., Hastings, NE 68901.
(FS)

DIEBOLD 906 OR 910 FREESTANDING ATM—Contact
Ken or Ron at 402/288-4242.
(WTB)

SERVING PROFESSIONALLY
Banking, Financial & Business Personnel
Iowa and Nationwide

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

MUNICIPAL BOND
We are looking for an experienced municipal bond
sales person to take over and expand the sales
manager’s territory, which is already developed.
This is a tremendous opportunity for the right per­
son to join a rapidly growing department. Phone
Jan Nolander at 612/341-6578 for more information.

F & M MARQUETTE NATIONAL BANK
6th & Marquette
Minneapolis, MN 55480
Equal Opportunity Employer

(PA)

Estate Appraisals
Purchase of
Collections
Sale o f Rare Coins
Reliable and respected service
for over 20 years

POSITIONS AVAILABLE
COMMERCIAL/INSTL. LOAN - $80MM bank with large con­
sumer loan portfolio seeks experienced lender to under­
study senior loan officer.
$25,000
CASHIER - $25MM community bank. Handle operations,
personnel and regulatory reports. Third man position.
$25,000
AGRILOAN ■ senior position in $35MM rural bank. Some
experience with commercial credits desired.
$35,000

Used by bankers
throughout the midwest

COMMERCIAL LOAN - $60MM suburban bank. Requires
three or more yrs. commercial lending experience and
good business development skills.
$33,000

Ben E . Marlenee
Coins

PRESIDENT • major midwestern holding company seeks
experienced CEO w ith strong agricultural loan back­
ground to manage $45MM a ffilia te bank.
$ Open

913 Locust
Des M oin es, Iowa 50309
515-243-8064

All inquiries confidential. Resume’ requested.

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

Vol. 13 No. 7 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.

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