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Vol. 7 No. 6____________________ Des M oines, Iowa Discuss Farm Credit Outlook Inflation, coupled with declining farm income, has affected farmers to the extent that only top notch farm operators will be able to increase their equity in the months ahead. This is the unanimous opinion of agricultural bankers from midAmerica who participated in an Agricultural Credit Outlook Semi nar for news media, sponsored in Memphis by the Agricultural Bankers Division of the American Bankers Association (ABA). The 120-horse power tractor purchased for $12-14,000 in 1973 now costs $24-28,000. Farm land values have increased from $800$1,000 an acre in 1973 to $1,800$2,500 today, with cash rent going from $40-$75 an acre to $105 an acre now. These are just a few of the increases cited by Edward J. Leahy, president of Northwestern State Bank, Orange City, Iowa, and one of five panelists who took part in the ABA Seminar. “The end result is that farmers and farm related businesses are borrowing more money to produce the same acres of crops with the not-too-bright prospect of receiving substantial increases in their per bushel, per bale, per pound sale of farm commodities,” stated panel moderator Marlin D. Jackson, chairman and president of Security Bank, Paragould, Ark. Question Cash Flow “Adversity beyond control,” is how James R. Eatherly, president of the First National Bank, Tonkawa, Okla., labeled the situation. “Where will capital come from to finance the future farmers?” he questioned. “Cash flow is rapidly becoming a forgotten term.” “Agriculture has an appetite for credit,” observed John H. Hem bree, senior vice president of Union Planters Bank, Memphis, “how ever, the farmer can’t borrow himself out of debt.” “I fear that some people may get themselves extended to where the decline in the price of agricultural products, a recession of any sort, bad crops for two or three years in a row. . .could cause them to be in extreme financial difficulty,” he said. A. Earl Fort, senior vice president of the Grant County June 5,1978 State Bank, Ulysses, Kans., noted that the effects of unprofitable aspects of farming were felt in the Kansas area a year before formal strike activity began by the American Agricultural Movement. And, he said, declining farm income hurts most other related businesses. “The cash flows of implement dealers, grocery stores, clothing stores, freight carriers, advertising collections, and many other busi nesses have felt the dramatic effects of weakened repayment capacities of the producer,” Mr. Fort observed. “It simply costs more to produce food than a farmer has been receiving. This anguish is the reason the voice of agriculture was sounded in market and political circles.” Farm Strike The panelists agreed that much good has come from the American Agricultural Movement. “Many consumers are thinking for the first time that whoever produces the meat, milk or fiber which they consume also has to make a living,” said Memphis banker Hembree. He acknowledged that while there was talk of farmers not planting, by spring the farmers who were most vocal as members of this movement were getting ready to plant crops. “The real problems that brought about the farm strike and the CREDIT OUTLOOK . . . [Turn to page 4, please] 40 IOWA B A N K S -O W N E R S O F TH E IOWA NEW OUTLOOKS ASSOCIATION INVITE YOU TO ENJO Y MORE CHECKINGACCOUNT GROWTH TH R O U G H TH E NEW OUTLO O KS C L U B -A M E R IC A ’S M OST SUCCESSFUL M OST PROFITABLE PACKAGE CHECKING PROGRAM. CALL THE IOWA NEW OUTLOOKS ASSOCIATION: 515/382-5363 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis GRINNELL: Douglas R. Hill, v.p., Poweshiek Co. N at’l Bk., has been elected to the board. KEOKUK: Robert A. Leisy has been named v.p. by the Keokuk Sav. Bk. & Tr. He has been with the Citizens St., Donnellson. Gary Stevenson Your Man on the First Team. mmmmÊÊsi GARY STEVEN SO N Vice President MARSHALLTOWN: Dennis Mil ler has been named marketing dir. of Fidelity Brenton Bk. 712/277-1500 First National Bank isi Sioux City • A ‘BANKS OF IOWA’ BANK AUCTION Office furniture and equipment including: 65 desks, chairs, tables, teller stools, wooden check tables, marble check tables, luncheon tables and chairs, filing cabinets, card files, storage cabinets, fire proof micro-fishe cabinet, adding machines, posting machine, typewriter stands, tellers safe with 20 combination-lock compartment, 2 postal scales, raised flooring for computer room and partition sections. June 9 & 10, 9:30-4 o’clock, old American National Bank Bldg., Sixth & Francis Sts., St. Joseph, Mo. Directory Correction Readers of the Iowa Bank Directory should note the following error and make the necessary notation in their 1978 books. The 1977 year-end figures and list of correspondent banks for Steele State Bank of Cherokee (page 60) appear at the top of page 57 directly under the figures and correspon dent banks of Iowa Trust and Savings Bank, Centerville. They were placed there inadvertently during page make-up of the directory. The second set of figures at the top of page 57, showing deposits of $15,232,000, belong to Call your roving correspondent at Bankers Trust Steele State Bank, Cherokee. The figures at the immediate top of the page, showing deposits of $38,199,000, correctly belong to Iowa Trust and Savings of Centerville as noted. Iowa News AMES: The 33rd Annual Ag Credit School opens today with a maximum enrollment, according to Everett Stoneberg, director. The school continues through June 16. CHARLES CITY: Funeral services were held May 27 for Dale Hansen, 35, v.p., Citizens N at’l. Bk. CLEAR LAKE: Robert Fountain has been named v.p. in the loan dept, of Clear Lake Bk. & Tr. Co. He has been with Marine N at’l., Neenah, Wi. DES MOINES: Andy Friedmeyer has been named as vice president in charge of operations and data processing officer at Capital City State Bank. He was formerly correspondent systems officer. DES MOINES: The Iowa-Des Moines National Bank said it plans to open a foreign branch in Georgetown, Grand Cayman, in the British West Indies. The branch will be opened in July subject to approval of the Cayman Island government. AG REP WANTED North Central Iowa bank of $28 m illion seeks qualified ag loan officer. Reply in confidence to FileW YG, c /o Northwestern Banker. NEWTON: Charles D. Denniston, corporate secretary of the Dennis ton and Partridge Co., recently was named to the board of the Jasper County Savings Bank here. He fills the vacancy created by the resignation of his father, Homer W. Denniston, who had served as a director for 26 years. SPENCER: The addition of Steven J. Charlson as instalment loan officer of the Clay County National Bank has been announced by James Bullard, president. Mr. Charlson previously was with Borg Warner Acceptance Corporation and Associates Finance Company. WALNUT: Dwight Wuster will retire June 30 as v.p. of Walnut St. Bk. W EST LIBERTY: The W est Liberty State Bank has filed an application with the State Banking Department for a bank office to be located in Atalissa. WEST UNION: Bruce Cannon has been named farm rep for the First N at’l. Bk. He has been with Maynard Cooperative Co. Islebraska News BEATRICE: All grads and stu dents of the Grad. School of Banking, Wisconsin, and Colorado School of Banking have been invited to a golf tourney here on Friday, June 14. John McCune, United States N at’l., Omaha, is in charge of reservations. LINCOLN: Joseph Thorpe, v.p., Nat’l. Bk. of Commerce, has been elected pres, of the Nebraska Mortgage Assn. Jim is ready to help you. áJtoM» Use our to ll-fre e WATS line: 800-362-1688 Member: F.D.I.C./Federal Reserve System https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis As our new associate in the correspondent bank de partment, Jim Eick w ill show you that we do your kind of banking. Des Moines’ second largest independent bank CAPITAL CITY BfiflK Main Bank East Fifth and Locust 50309 515/244-5111 3 v -4 C arleton D. Beh Co. w Investment Securities Des Moines B uilding • Des Moines, Iowa 50309 • 515/288-2152 > NEW ISSUE MOODY’S: “A” $500,000 WASECA, MINNESOTA General Obligation Improvement Bonds of 1978 Dated: June 1,1978 Denomination: $5,000 Both principal and semiannual interest (September 1 and March 1, first coupon due March 1,1979) payable at Fidelity Bank and Trust Company, Minneapolis, Minnesota. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITIES 5.50% M archi, 1980 March 1,1981 March 1,1982 M archi, 1983 5.30% March 1, 1984 5.00% M archi, 1985 5.00 March 1,1986 5.00 5.10% 50,000 March 1,1987 5.10 50,000 M archi, 1988 5.15 50,000 4.90 5.20% 50,000 March 1,1989 5.20 LEGALITY TO BE APPROVED BY DORSEY, WINDHORST, HANNAFORD, WHITNEY & HALLADAY, ATTORNEYS, ST. PAUL, MINNESOTA. $50,000 50,000 50,000 50,000 4.50 4.60 4.70 4.80 $50,000 50,000 Waseca is located in southeastern Minnesota approxim ately 75 miles south of the Twin Cities metropolitan area and 50 miles north of the Iowa border. The C ity, in addition to being the Waseca County Seat, is the largest m unicipality in the county and is the center of most commercial and industrial activity. Major employers in the City include: E. F. Johnson Co. (electronics); Brown Printing Co.; General Foods Corp.-Food Products Division; ISD No. 829; Herter’s Inc. (sporting goods); Mishek’s Supply Co. (office supplies); Waseca Memorial Hospital; Corchran Mfg. Co. (steel products); Waseca Mutual Insurance Co.; Dean’s Specialty Supply Co. (feed) and Design Homes (m odular homes). These bonds are being issued pursuant to Chapters 429 and 475, Minnesota Statutes. The proceeds of th is issue w ill be used to finance various improvement projects in the City. In the opinion of counsel, these bonds are legal and binding general obligations of Waseca, Minnesota, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal of and interest on the bonds w ithout lim it as to rate or amount. FINANCIAL STATEMENT Market value of taxable property, 1977 Assessed value of taxable property, 1977 Net direct debt, including this issue Total direct, overlapping & underlying debt $84,664,818 21,745,563 1,391,228 2,967,348 Population, 1977 estimate: 8,300 Net direct debt per capita: $168.00 Total debt per capita: 358.00 Tax collections have approximated 97.3% of taxes levied for the past three years. We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion. The information contained in this circular is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds was based. Offered subject to prior sale and change in price. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis When it conies to total service, you’ll get a lot of help for your Memo?« f[)iC An A ffilia te o f N o rth w e s t B a n c o rp o ra tio n Banco («) CREDIT OUTLOOK . . . [Cont. from page 1] negative cash flow position were the results of supply and demand,” said Mr. Jackson. “Either through legislative pro grams or self-constraint, the American farmer must limit his production to that amount that will be absorbed by our domestic and foreign markets at prices that permit a reasonable profit,” Jackson said. “The balance of produc tion over domestic and foreign usage is the real challenge to farmers, the Congress, and the Administration.” Other subjects discussed by the panel included: * Farmers Home Administration [FmHA] —FmHA has been a “tremendous help,” though a lot of its effectiveness has to do with the effectiveness of local FmHA officers. * Correspondent Banking Rela tionships — Moving money from the money center banks to rural/agricultural communities is a critical need. They said the finance needs of third world countries should be balanced against the need to make money available to American farm borrowers. • Foreign Investors — More foreign investors have come from Western Europe than from oil producing countries, but foreign investment in the United States does not present any problem. Most farmland sold is bought by nearby farm operators, who are paying “outlandish prices.” The question is: who is to say who can buy and sell and to whom? • Interest and Inflation — Bankers predict that the average interest rate for farm production loans will soon top nine percent. The rate of inflation will go to IV 2 %, higher than predicted by the Administration, they said. • The Young Farmer — Inflation has almost frozen out young farmers, who are more highly leveraged than older farmers. Regardless of his source of financial assistance, the young farmer has to be a super efficient producer and an even more efficient money planner and manager. One poor decision can result in an economic setback that could put him out of business. • Banker-Farmer Relationships — Every possible avenue is being used to assist farmers caught in the “low income situation.” Bankers are spending a lot more time with their farm customers, figuring budgets, cash flows and projec tions, as well as restructuring and extending terms of loans to help them stay in business. It is common for agricultural bankers to inspect the customer’s farm opera tion personally. Both banker and farmer are benefiting from this relationship. The urgency expressed by the bankers toward the current farm credit situation does not diminish their optimism for the future. “We will see the size of farms become larger and larger,” pre dicted Mr. Hembree, and agricul tural production will continue to increase. “There will be ups and downs of prices, but agriculture will continue to enjoy prices for its products which will make people good livings, and they will continue to enlarge their holding.” North Dakota News FARGO: The Fed has approved North Dakota Bancshares acquisi tion of 85% or more of stock of The Fargo Nat’l. Bk. & Tr. Co. TOWNER: Deposit insurance for the State Bank of Towner has been approved by the FDIC, effective June 1. Le Roy Gilbertson, commissioner of banking and finance in North Dakota, stated earlier the state banking board would meet prior to that date and issue an order allowing the freeze on deposits in the bank to be lifted simultaneously with the June 1 FDIC coverage. The State Bank of Towner was chartered and opened in January, 1977 to succeed the uninsured Pioneer State Bank of Towner, which had been closed by the state authorities. James Willi ams, an attorney in New Rockford and director of banks in Westhope and Devils Lake, has been president of State Bank since its opening. He said the new bank has progressed well and has exceeded all requirements of the FDIC and state authorities. Colorado News DENVER: Five staff members of the First N at’l. Bk. have been advanced to v.p. They are: H. George Capelo, George F. Lutito, Robert L. Manning, Jr., Thomas A. Neill, and William C. Neill. LITTLETON: Keith R. Osborne has been advanced from sr v.p. to pres, of United Bk. He succeeds W. G. Johnson, who has been elected pres, of United Bk. of Ft. Collins. COULSON STEINMETZ AND LEWIS Three of our men on your side at Fred N. Coulson, Jr. 234-2479 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Michael D. Steinmetz Edwin B. Lewis 234-2480 234-2625 C ommerce Bank of Kansas a ty M e m b e r FDIC T ele p h o n e (816) 234-2000 WHY LEASE? Today, businessmen, farmers, and professionals find they can move ahead faster financially by making maximum use of other money resources and not tie up large blocks of capital. ARE BUYING AND LEASING ALIKE? There is much in common . . . you "shop" for your equipm ent. . . you decide model, size of particular options you want. LEASE PAYMENTS ... Are arranged to fit your cash flow. Thus, equipment and payments ore "customized" to accommodate your needs. THE MOST IMPORTANT THING... You have the equipment to use whether you're buying or leasing, and can own the equipment at the end of the lease. AND. . . HOW ABOUT A LEASEBACK? .... Sure, suppose you are a business or professional man or farmer, and your equipment is free and clear," or at least you have a good equity in it. You are "loaned up" at the bank, but you need cash now for a good inventory buy, to carry additional receivables, or for any worthwhile purpose. If your cash flow will carry the rental payments, then consider a Leaseback. .... You simply "sell" all or part of your equipment to the Leasing Company (if you still owe on it we will pay it off), and we in turn lease if back to you at a rental figure in keeping with your cash flow. As a result. . . • You g e t cash now ! •Y o u d o n 't disturb yo u r present credit lines. •THE FULL LEASE PAYMENT IS PROBABLY DEDUCTIBLE. Leasing isn't for everyone — let us help determine when it makes sense. Investigate THE BANKERS' PARTICIPATING LEASEPLAN R . L. "DICK" SELLON https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STEVE BROOKS P. D. "DUANE" DEVAULT EVERYBODY IS LEASING TO D A Y THE BUTCHER - THE BAKER - THE CANDLESTICK MAKER THE D O C TO R - THE DENTIST - THE FARMER - THE A C CO U N TA N T. OUR BANKERS’ PARTICIPATING LEASEPLAN . . . . If is designed to help Store and Notional banks be involved in the growing leasing business without added personnel, training or ony extra overhead. WE PROVIDE. . . . Basic information to determine when leasing rather than financing or purchasing is most beneficial. We handle all documentation, equipm ent purchasing, and lease accounting. We have all marketing material available that you might need. THE DANK. . . . Finances the lease or participates (but only if you want to). The lending limit with your customer is not disturbed. The credit decision is yours. The lease is insured against deficiency balance loss and all lease payments are assigned direct to your bank. State banks comply without a holding company or other entity. High yield for you and loss free! Attract new customers and hold old ones! AND WHO IS AN EQUIPMENT LEASE PROSPECT? . . . A customer with lending limit problems. . . . A customer in the higher brockets, who needs the fastest write-off possible. . . . The party who needs to conserve his cosh for operations or expansions, but needs additional equipment. Investigate L E a s e P la n ,ln c . 545 - 31st Street, Des Moines, Iowa 50312 □ 515/282-5008 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement To Northwestern Banker Newsletter 6-5-78 7 CALL ON THE “PERFORMANCE TEAM ” where common transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 4 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. Nebraska News OMAHA: The Fed has approved Omaha N at’l. Corporation’s acqui sition of Wyoming Trust & Management Co., Gillette. OMAHA: Omaha-Council Bluffs BAI will hold a half-day seminar for personnel who are involved in the resolution of adjustments between banks. It will be held June 8 at Holiday Inn, 72nd and Grover. Contact Gary Jones, Omaha N at’l. for more information. Minnesota News AURORA: Rodney Salo, formerly v.p. & cash., Northern St. Bk., Virginia, has been named e.v.p., St. Bk. of Aurora. BLOOMINGTON: James J. Entgelmeier has been named a commercial loan officer of the Northwestern Bank Southwest. FARIBAULT: Jay E. Gannon has been named v.p. and mgr. of installment loans by First N.W. N at’l. Bk. He replaced Alton J. Deney, who retired after 39 years. Mr. Gannon was with First N at’l., Mason City. MINNEAPOLIS: The 88th Annual Minnesota Bankers Convention starts Monday, June 12 at Radisson South Hotel. MINNEAPOLIS: LeRoy Stueven, correspondent bk. rep. from N.W. Nat’l. Bk., has been named pres, of the Minneapolis AIB chapter. OSTRANDER: The Ostrander St. Bk. recently observed its 75th A good correspondent! bank relationship is still built by good people. Yours and ours. Jerry Trudo A sst. Vice President https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis anniversary, according to Elmer Anderson, pres. PARKERS PRAIRIE: The First N at’l. Bk. recently observed its 75th anniversary, according to Dick Westlund, pres. ' 'O p p o rtu n ity-çj. K n o c k s ..." W\ PINE ISLAND: The Fed has approved Tri County Investment Co. to become a bank holding company by acquiring The Security St. Bk. ST. CLOUD: D. Jack Robertson has been named pres, of the Granite City N at’l. Bk. He was pres, of First St. Babbitt. The new bank will open in temporary quarters this summer near the Crossroads Shopping Center. An app has been filed with the Comptroller to change the name to First Bank, St. Cloud. ST. PAUL: Richard Franzmeier has joined Commercial St. Bk. as vice pres./cashier. WINSTED: Remodeling is under way at the Citizens St. Bk. A new motor bank will be constructed. WINDOM: Omer Trom has been advanced to v.p. at First N at’l. Bk. Illinois News EAST PEORIA: The First Nation al Bank has received consent to establish a facility at the intersec tion of IL 29 and S. Highland Street, Creve Coeur. LANSING: First National Bank has received consent to establish a facility in the vicinity of Torrence Avenue and Glenwood-Lansing Road, Lynwood. Call me toll free . . . 800 332-5991 Wyoming News KEMMERER: Two new staff members have been added by The First Wyoming Bk. They are Joe W. Novak, formerly with Saline St. Bk., Wilber, Nebr., and Carroll Vern (Buzz) Esterholt. Mr. Novak will be in the installment loan dept. Mr. Esterholt will be a trainee. THERMOPOLIS: Funeral services were held for Vern Eastman, 68, retired exec, v.p., First Nat’l. Bk. He was a past pres, of the Wyoming Bkers. Assn, and had lived in Thermopolis for 50 years. For a v a ila b ility o f fu n d s, k n o w le d g e a b le p e o p le a n d p ro fe s sio n a l serv ices, call o u r c o rre s p o n d e n t b a n k d e p a rtm e n t. TOLL FREE 1 - 800- 363-1651 - “C ” Central National Bank & Trust Com pany Merchants A National Bank IS I C edar Rapids. Iowa 52401 A ‘B A N K S O F IOW A' B A N K LOCUST AT 6TH/DES MOINES, IA 50309 MEMBER FDIC AFFILIATED WITH CENTRAL NATIONAL BANCSHARES. INC 8 Does Your A dve rtising Have The Blahs? Are you tired o f having your newspaper salesperson walk into your bank on Monday m orning asking — “ W ell, w hat’ll we run th is week?’’ If you’d like an advertising agency but feel you can’t afford one. If you’d like a customized campaign that covers all media and gives c o n tin u ity to your advertisng program ......the THANK YOU BANK campaign does all th is and more. It has a proven track record — w ill fit your budget— and is sold to only one bank in a market. To find out more, w rite or call and we’ll set up a presentation in your bank. No obligation, o f course. Advertising Associates, Box 934, Maquoketa, ia. 319/652-5212. POSITION AVAILABLE WANT ADS Rates 40 cents per word per Insertion. Add $2 for box numbers. Identity of box number advertisers cannot be revealed. N O R TH W E S TE R N BAN KER 30615th St., Des Moines, Iowa 50309 WANTED TO BUY Counter w /3 teller stations w /individual cash drawers, also Night Depositor. First State Bank, Goodrich, No. Dak. 58444. FOR SALE Used Diebold drive-up window. Contact: John Brown, Bedford National Bank, Bedford, IA. Phone 712/523-2171. POSITION AVAILABLE Credit Manager— Central Bank of Denver is seeking an experienced credit department manager with commercial banking background to coordinate the daily activities of our credit department. Applicant must have previous supervisory responsibilities and 2-3 years experience in analyzing financial statements. Excellent company benefit package and starting salary. Send resume and salary history in confidence to Central Bank of Denver, Personnel Dept., 1515 Arapahoe St., Denver, Colorado 80292. “Equal Opportunity Employer'’ M/F TRUST OFFICER Brenton Banks, Inc. is seeking a trust officer to be responsible for the coordination of the administrative and operational functions of its trust departments. The individual who is selected to fill this position w ill be named a trust officer of the holding company and w ill report directly to the Vice President-Trust. A minimum of two years experience in a related area in a trust department is required. Please send your resume, including current compensation, in confidence to: Trust Division, Brenton Banks, Inc., P. O. Box 5193, Des Moines, Iowa 50306. Vice president with experience in operations and credit. A bility to assume top management. Contact: Ed Hass, West Burlington Savings Bank, West Burlington, IA 52655. AG LOAN OFFICER Opening for Ag Loan Officer in rural Nebraska chain bank. Degree in agriculture or business administra tion desired, with at least two years ag lending experience. Insurance licenses helpful. Send resume to file ACW, c /o Northwestern Banker. mgmt. Areas of experience are installment, commercial, real estate and mktg. Competent in operations and personnel. Communicates effective ly, can handle a decentralized operation. Earns $19,000. OFFICER - Positions held include Commercial Loan Officer and Managing Officer-Agri Business Div. Heavy new business development. Planned and organized the Agri-Business Div. Active in community affairs. Earns $24,000. FARM MANAGER - Selects operators, prepares budgets, plans crops. Also handles mktg. distribution of profits and reporting to the principles. Asks $16,000. MARKETING OFFICER - Presently organizing and overseeing the call program of new and existing customers. Heavy exp. in mktg. of new and existing services. Earns $20,000. ALL FEES COMPANY PAID FOR FURTHER INFORMATION CONTACT R « CAPITAL PERSONNEL SERVICE 814 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 A 1 POSITION AVAILABLE Office manager for progressive Des Moines Bank. Lending experience desired. Send resume to Box ADA, c /o Northwestern Banker. BANKERS PARTICIPATING FOR SALE (1) Remington Rand Kardex Safe, 17 trays holding 80 4” x 6” cards each. (Like new). Contact Wayne V. Jungjohann, Vice President, Iowa State Savings Bank, Clinton, Iowa 52732 (319) 242-9111. 545-31 st Street • Des Moines, Iowa 50312 FOR SALE R. L. “DICK” SELLON • P.D. “DUANE” DEVAULT 775 NCR Proof Machine, console only priced at $6,500. with additional $525. necessary to purchase remaining 6 months of maintenance contract. Purchased new January 1976, and showing under 2,000 hours of run time. I ea. Pitney Bowes Embosser and Addresser Printer, complete, 2 ea. 12 drawer Pitney Bowes storage cabinets on wheels and 2 ea. 2 drawer Pitner Bowes storage cabinets, all in good condition. Installing computer and need to sell. Contact V. E. Rossiter, Jr., President, Bank of Hartington, Hartington, Neb. 68739. 1977 model L 9500 Burroughs computer, Serial #L95233-001. Contact W illiam B. Dohrmann, State Bank of Fayette, Fayette, IA 52142 or call 319-425-3395 fo r further information. Brand new, never been used. WANTED TO BUY Addressograph and Graphotype equipment. Please list model and serial number of machine. W rite P.O. Box 607, Boone, la. 50036. POSITION AVAILABLE Bank Service Corporation needs a customer service representative to join their team of professionals. Must have at least 5 years of bank operation experience, and strong background in accounting or finance. Submit resume in confidence to Banks of Iowa Computer Services, ine., 222 - 2nd Ave. S.E., Cedar Rapids, la. 52401. Attention Duris Juhl, Personnel Manager. “ Equal Opportunity Employer.” BANKERS PERSONNEL SEARCH, INC. 321 Stephens Building Des Moines, Iowa 50309 515/282-4446 or 515/961-5419 Harriette Allison, President Employer Paid Fee Confidential Bank Personnel Only l\ ( , ^■4 -4 A FOR SALE Vft POSITIONS AVAILABLE SECOND OFFICER— Rural $10MM midwestern bank. Ag background mandatory. Opportunity to assume CEO p o s itio n __ $20,000 COMM’L LOAN— Excellent opportunity for junior officer with formal statement analysis background and some lending experience. Iowa lo c a tio n .......................... $17,000 AG-LOAN— Western state. Strong lending ability with administrative experience; #2 p o s itio n ........................................................$22,000 OPERATIONS— Southwestern Kansas bank of $30MM in nice community. Manage ment position with aggressive organiza tion ............................................................... $18,000 EXEC. VICE PRES.— A ffiliate of major holding company. Commercial loan and business development skills required___$22,000 AG-LOAN— Addition to staff of $20MM bank located in central sta te ; 2-3 yrs. experience would q u alify............................ $16,000 All inquiries handled on a confidential basis. Other fine opportunities available. TOM HAGAN & ASSOCIATES Linda Blue Smith, President Box 12346— 208 E. 18th Ave. NKC, M O 64116816/474-6874 Vol. 7 No. 6 Northwestern Banker Newsletter is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8 per year. Second class postage paid Moines, Iowa. Address all mail subscriptions, changes of address [Form 3579] manuscripts, mail items to Digitized at for Des FRASER above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis V Des Moines, IA 50309 (515) 244-4414 14’x60’ mobile bank building in Iowa, 14’x68’ mobile bank building in Arkansas, 14’x50’ wood modular bank building in Colorado, 14’x60’ wood modular bank building in Missouri. All bank equipment included, and available now, from the leading distributor of preconstructed Financial buildings, SON CORPORATION, Box 684, Wichita, KS, 67201, (316) 942-8167, 68, or 69. SERVING PROFESSIONALLY \V Bank Division Two NCR Postronics, one NCR Pocket Proof Machine, one NCR Ten-Key adding machine and one NCR Full Key Board adding machine. First National Bank of Elm Creek, Elm Creek, Nebraska (309) 856-4661. Banking, Financial & Business Personnel Iowa and Nationwide 4) M1 H 1 ROBERT HALF of Iowa, Inc. <H 1 317 6th Ave. 1M <M SALE OR LEASE FOR SALE SIM O N'S JEW ELR Y C O . 328 SO. 72nd ST. OM AHA, NEBR. 68114 PHONE 402-393-2320 ASSISTANT V.P. - Successful record in branch FOR SALE MY LOVELY LITTLE HAND-PAINTED AMERICAN flag stick pin . . .so sharp on lapel and blouse . . .only $24.00 a gross. Give these away July 4th week to say “ God Bless America.” Regular price is $36.00 a gross wholesale! How many w ill you need? Please advise us early! We bill later, of course. BOB TUCKER ASSOCIATES, BOX 1222, PT. ARTHUR, TX. 77640. “ Since 1958” • ESTATE APPRAISALS • INSURANCE APPRAISALS • BUYERS OF ESTATE JEWELRY AND COIN COLLECTIONS TO P PRICES PAID 40 YEARS IN OMAHA PARTIAL LIST OF AVAILABLE CANDIDATES r