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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 B • 9 • • • ^ m ^ • • 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 • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ■ ill 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. _ . m m » _ American ^Irust v Savings Danl^ .The DanKqf Opportunity https://fraser.stlouisfed.org 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org 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 i--------------------------------------------------------------------------------------------------------- I N E W 1 9 8 4 E D IT IO N S / £ 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 ______________ ___________________________ ________ ' | Orders shipped by return mail https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis City and S ta te ___________________________________________Z i p ____________ Phone _ ____________________________________________________ ■ ______ 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 https://fraser.stlouisfed.org 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. • 0 0 ^ ^ * ^ 9 3 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 ■ 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. ^ ^ m w __ __ ■ 0 » dSwrE MR St Chairman Ernie Yake President ■ Senior Vice President Commerce Bank of Kansas aty A M E M B E R FDIC FDIO MEMBER https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis