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• Vol. 16 No. 8 Des Moines, Iowa June 8,1987 FCS 8th District ’87 Land Sales Are $135.6 M illion A R M Credit System Capital Corporation (Capital Corporation) in Omaha reports $35,371,645 in pro perty sales involving 83,151 acres in Iowa, Nebraska, South Dakota and Wyoming during the month of April £ at an average price of $425.39 an acre. The Capital Cor poration closed out the month with an additional $59, 350,370 in pending sales involving 174,336 acres, or $340.44 per acre. During the first four months of 1987 (January 1 0 through April 30) the Capital Corporation efforts have F NEBRASKA SALES YEAR-TO-DATE—April 30, 1987 January February March April Total Pending Sales TOTAL YTD SALES FCS R E P O R T ... (Turn to page 2, please) EIGHTH FARM CREDIT DISTRICT YEAR-TO-DATE SALES—April 30, 1987 Volume Per Acre 113 116 281 28,214 14,783 46,369 $ 9,734,374 7,797,145 23,305,640 345.02 527.44 502.61 1ST QTR 510 April 415 623 89,366 83,151 $40,837,159 35,371,645 174,336 59,350,370 425.39 340.44 1,548 346,853 $135,559,174 $390.82 January February March Pending Sales TOTAL SALES YTD 456.97 Acres Volume Per Acre January February March April 86 76 207 275 9,296 6,771 21,557 34,521 $ 6,517,300 5,741,499 16,969,985 26,605,355 701.09 847.95 787.21 770.70 Pending Sales 396 58,675 39,350,688 670.66 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 130,820 $95,184,827 Ken Malecha Per Acre 21 10 39 51 121 3,363 2,033 6,517 19,372 $ 1,417,250 823,677 2,830,175 4,952,497 421.42 405.15 434.28 255.65 31,285 50,828 10,023,599 10,082,488 320.40 93 214 82,113 $20,106,087 $244.86 198.36 Acres Pending Sales 4 26 31 56 125 1,160 5,879 12,228 28,938 59,960 TOTAL YTD SALES 242 108,165 January February March April Volume $ Per Acre 190,000 1,167,638 1,564,655 3,483,793 8,929,794 163.79 198.61 127.96 120.39 148.93 $15,335,880 $141.78 WYOMING SALES YEAR-TO-DATE—April 30, 1987 Number 1040 Volume Number IOWA SALES YEAR-TO-DATE—April 30, 1987 TOTAL YTD SALES Acres SOUTH DAKOTA SALES YEAR-TO-DATE—April 30, 1987 Acres Number Number $727.60 Number Acres January February March April 3 4 4 2 $ Pending Sales 9 173 100 3,067 320 4,873 22 8,533 TOTAL YTD SALES Joan Thompson Volume Per Acre 7,914 70,064 419,500 330,000 45.75 700.64 136.78 1,031.25 987,400 202.63 $1,814,878 $212.69 FCS R E P O R T ... (Continued from page 1) resulted in the sale of 346,853 acres worth $135,559, 174, an average of $390.82 per acre. The aggressive marketing efforts have resulted in an average selling price of 102% of appraised value. The Farm Credit System Capital Corporation (Capital Corporation) is the national organization authorized by Congress to manage non-accrual loans, manage and sell acquired pro perty, and to channel funds to finan cially stressed banks in the Farm Credit System. “ We originally anticipated sales activity would slacken in April after the federal farm program sign-up deadlines had passed in March, and as spring field work got underway; this has not materialized. Sales acti vity remains brisk,” said Don Korkow, Capital Corporation vice presi dent-acquired property. “ The rate of property coming into inventory is lower than expected. Last year’s excellent crops and gov ernment farm program s have pumped a lot of money into agricul ture. And, I suspect the significant restructuring efforts of the Omaha District have kept more farmers on their farm,” Mr. Korkow added. In Iowa, Eastern Nebraska and Eastern South Dakota, higher quali ty crop lands have sold exceptional ly well. Some areas have reported a five to eight percent increase in sell ing prices. This is expected to have a “ cost-tail” effect on marginal pro perties. In the Western part of the Dis trict (Western Nebraska, Western South Dakota, and Wyoming), larger ranch properties sales are starting to pick up. Livestock eco nomics are extremely favorable right now. However, field personnel® report that some prospective buyers continue to concentrate on return on investment; but are looking at money market rates for comparable return on investment, rather than® historical rates of return for the type of land and production. Most sales of Farm Credit System acquired property are being sold to_ people within local communities or® people who have had a connection to it. Seventy-two percent of buyers buy for farming purposes; twentyfour percent of buyers buy for in-^ vestment purposes (including farm ers, retired farmers, local business people and investors) and four per cent of sales are rural home pur chases. Seventy-six percent are easily purchases, including cash generated^ by loans. Acquired properties represent as sets of the stockholders of the mem ber-owned Farm Credit System. Pro -0 ceeds from the sale of property arew used to retire debts and obligations of the member institutions and re duce operating expenses. Regional listings of properties for0 sale in the four-state district (Wyoming, Nebraska, South Da kota, and Iowa) are available by call ing a toll-free telephone number 1-800-367-9780 (in Nebraska 1-800-0 422-5568). Similar listings are avail able in Farm Credit Services offices and through the Capital Corporation office in each region. □ A Meeting O f The Minds. At Security National Bank, our minds are on meeting all your Correspondent Banking and Investment needs. We’re Security for you! Dennis Earhart MNB Correspondent Banker Together We Can Accomplish Great Things Call 319-398-4789 or toll free 1-800-332-5991 _TK§" Strength Eastern |owa Merchants National Bank m Cedar Rapids. Iowa 52401 Member F 0 1C https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Ron Kiel C orrespondent B an k in g O ffic e r 712-277-6736 Michael Moreland SECURITY N A TIO N A L BANK IN SIOUX CITY, IOW A. MEMBER F.D.I.C. V ic e President Investm ents 712-277-6616 t's easier to talk Iowa banking with people w ho live it — people like Steve Brewer and the corre spondent staff at Bankers Trust. I Call 1-800-362-1688 or 515/245-2424. B ankers Trust Des Moines, IA Member FDIC Steve Brewer Commercial Banking Officer Bond portfolios working at full power. The performance of your bank’s bond portfolio is based on sound thinking and quality investments. Investments that will consistently work at full power to contribute to the earnings of your bank. Bond portfolio recommendations have been our specialty since the 1920s, and our track record is enviable. Although investment vehicles and markets have changed, we’ve maintained our high standards. The result is success for our customers and a reputation that precedes us. For confidential consultation about the benefits of investment banking at United Missouri, call (314) 621-1000. ki U N ITED M ISSOURI BANK of Kansas C ity, n.a. Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.O. Box 419266 £ MÆ Kansas City, Missouri 64141-9946 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IOWA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM! CALL OR WRITE IOWA BANKERS INSURANCE AND SERVICES, INC. 104 EAST LOCUST STREET DES MOINES, IOWA 50308 1-800-532-1423 or (515) 286-4344 KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TOPEKA, KANSAS 66601 (913) 234-2631 SOUTH DAKOTA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? Are you FORCED to write one type of insurance with a company at a higher premium, just so they will write another type of policy for you? IF SO... PLEASE CONSIDER THIS We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM! CALL OR WRITE KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 TOPEKA, KANSAS 66601 (913) 234-2631 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OWNED BY BANKERS SERVING BANKERS 4 Now Available ,raska **"»•»>.i » 1987 Bank Directories Accurate, up-to-date information on every bank in the state, concerning: • Officers and Directors • Deposits, Loans, Assets and other figures • Other offices away from main bank • Addresses and phone numbers • Departments within the bank and their officers • Correspondent banks used NEW 1987 EDITIONS \/' # / 0 5 / Send me_________copies of the 1987 edition of the IOWA Bank Directory at $14.00 per copy. Send me_________copies of the 1987 edition of the NEBRASKA Bank Directory at $9.00 per copy. N ebraska — Nearly 200 pages. Iowa — Over 300 pages. Our check is enclosed for $ ______________ (add state tax: Iowa @ 4% Nebr. @ 4%) Company Nam e______________________________________________ _ _ CONVENIENT TO USE...lies flat for reading or copying (pages 31/4” x 6 Vi”). O fficer Name __ _____________________________________________' P.O. Box or Street Address __________________________________________________ City and State Z ÎD Phone Area Code https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NORTHW ESTERN BANKER 1535 Linden St., Suite 201 515-244-8163 Des Moines, Iowa 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis COUNTONIt Count on Commerce for superior capabilities and personal attention to your correspondent banking needs. A combination we’ve upheld for more than 120 years. Give us a call. 1800 892*7100 1800 821*2182 * * * t'£m\ Commerce Bank * o f K ansas City (Outside Missouri) Iowa News Group 11 bankers will hold their ^annual summer fun day on July 20 ^ at the Burlington Golf Club. Tee off time is after 9:00 a.m. Golf cart ren tal is $13, and carts must be re served as soon as possible. Pool and ^tennis courts will also be available. w Lunch can be purchased at the club house; a cash bar begins at 5:00; a steak dinner will be served at 6:45 p.m. Dinner and green fees are $25, £ dinner only is $12. Make reserva tions by July 8 by calling Lisa T. Walsh, F&M Bank & Trust, Bur lington, (319) 752-3661. ^ Nebraska News LB 335, which would close the annuity/life insurance contract loop hole, passed the Nebraska legisla ture by a vote of 35 to 9. An earlier # ballot fell two votes short of attach ing the Emergency Clause, which means the bill will not become effec tive for 90 days. LB 335 will prevent those filing bankruptcy from retain• ing their assets by converting them into annuities and life insurance. # * * f ^ f Lincoln. As president, he succeeds left the company to pursue outside William C. Smith, who has assumed interests. Mr. Schneider had been the title of chairman and CEO of with Norwest since 1964. FirsTier Lincoln. In addition, Mr. Smith continues as president and Illinois News CEO of FirsTier Bank Omaha and The Independent Community FirsTier Financial, Inc., the holding Banks in Illinois will sponsor its company for the banks. Prior to this executive change, Mr. Wilson had School for Community Bankers in been senior executive vice president August at Illinois Wesleyan Univer of FirsTier Bank Lincoln, a position sity in Bloomington. The First Year he held since joining the bank in school will be August 24-28 and the 1980 after working for Northern Second Year school will be August Trust Company of Chicago for 18 22-26. Enrollment fees include regis years, the last four there as vice tration, tuition, housing, meals, ma president in correspondent banking. terials and social events. They are New directors elected to the Firs First Year—$600, Second Year— Tier Bank Lincoln board include $650 for member bankers; First Larry Frazier, president and CEO, Year—$1200, Second Year—$1300 Farmers Mutual Insurance Com for nonmembers. For more informa pany of Nebraska; John Haessler, tion contact Barbara Blough, ICBI, president and CEO, Woodmen Acci 300 W. Edwards, Springfield, IL dent & Life Company, and Gates 62704. Minnick, president, DuTeau Chevro CHICAGO: Cole Taylor Bank / let. Drovers has announced Daniel S. Bleil has been named vice president, Minnesota News corporate banking. He has served as M IN N E A P O L IS : Levor “ Bud” an assistant vice president since Garnaas has been promoted to se 1985. nior vice president of the metropoli tan division of First Bank System. Wisconsin News He most recently served as vice LAN C A STE R : A t Union Bank & president, government trading and Trust of Lancaster, Will Johnson sales division, capital markets. has been named president and trust Meanwhile, FBS has promoted Lars officer, and Pat Friar, who is vice P. Lidberg to senior vice president, president and security officer, holds capital markets. His previous posi the additional position of cashier. tion was as vice president, interna tional money markets, capital mar North Dakota News kets. FARGO: A t First Bank Fargo, The regional interstate banking bill has been set aside by Nebraska legislators until they reconvene next January. According to Don Adams, v.p. for legislative affairs at FirsTier Financial, it wasn’t certain that there were enough votes to pass the bill, so supporters opted to table it and try to build support. Meanwhile, the Nebraska Bankers Association, M IN N E A PO LIS : William H. Queewhich opposes the bill, will continue nan, former president of Norwest to examine its position and consult Bank Bloomington and Norwest with bankers over the summer. Bank MetroSouth, has been named LINCO LN: Orrin A. Wilson has chief credit officer of Norwest Cor been elected president and chief poration’s banking group. He suc operating officer of FirsTier Bank ceeds Richard D. Schneider, who has FirsTier Correspondent Services Pamela Anderson has been ap pointed vice president and account executive, and Charles A. Ostlund has been appointed v.p. and finan cial services group manager. The two joined the bank in 1986 and 1965 respectively. More of what it takes to serve you well. FirsTier Banks FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FD1C https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lincoln • Omaha 4 Capital improvement plans and other management services SW ORDS ASSOCIATES. INC. PROFESSIONAL BANKING CONSULTANTS 4900 OAK SUITE 301 KANSAS CITY, MO 64112 (816) 753-7440 NEW OPPORTUNITIES CREDIT OFFICER—$400mm Midwest bank needs a seaa soned manager with proven track record............To $50,000^ COMMERCIAL LOAN— Prefer large bank training and ex perience for a $40mm commercial department. To $38,000 BANK AUDITOR—CPA/CIA or CBA with bank audit experi ence and supervisory skills.................................. To $28,000 AG LOAN OFFICER—Good opportunity for a Jr. Officer t<> Improve career path............................................... To $23 ,00 0 9 POSITION AVAILABLE IOWA NATIONAL BANK CURRENCY Employer pays fee. Please contact Lorraine Lear or Malcolm Freeland c o n -A cerning these and other Midwest banking opportunities. ™ EXECUTIVE VICE PRESIDENT $34MM Bank located in beautiful resort area. Oversee the day to day function of bank. Send resume to File No. WJG c/o Northwestern Banker. (PA) COMMERCIAL LOAN OFFICER. $180MM aggressive west ern Wisconsin bank. 2 years prior commercial lending ex perience or completion of commercial loan training pro gram. Excellent salary & benefits. Send resume and salary requirements to File No. WJL c/o Northwestern Banker. _______________________________________________ (PA) MARKETING/PUBLIC RELATIONS OFFICER. Position re quires minimum of 3-4 years banking experience. Commu nity oriented individual who is sales minded. Report to top management. Send resume and salary requirements to Gene E. Loverink, SVP/Cash., United Bank & Trust, Box 828, Ames, IA 50010. (PA) Additional experienced AG LOAN OFFICER, dairy back ground, degree, NE Iowa, county seat 4,000 population. $47MM bank. Send resume to File No. WJM c/o North western Banker. (PA) Walker State Bank, Walker, IA seeks CEO. Insurance ex perience required. Nice community. Good bank. Send resume to Terry Engleken, Iowa State Bank, Center Point, IA 52213.(319)849-1838. (PA) FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 S e rv in g b a n k e rs q u ie tly a n d efficie n tly. CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 POSITIONS AVAILABLE AG LOAN OFFICER Join a successful team in a great location. Healthy bank in county seat community seeks 2-3 yr banker for loan officer position. Understanding of cashflow, FmHA's and dealing w/ag customers are necessary skills. $27K. VP Ready to be senior lender in a $40mm bank? Well rounded portfolio of real estate, comm’l and some ag In great com munity. Outgoing individual wanted for key position In in stitution. Need 5yrs + banking and leadership mentality. $36K. WANTED FOR PERSONAL COLLECTION Also paying top prices for other “types” of U.S. currency and finan cial paper. DON MARK Box 1, Adel, IA 50003 • 515/ 270-8170 FOR SALE SERVICE CONTRACTS - Maintenance. American Bank Equipment, Inc. 402-571-5621. A sensible alternative. Serv ing the banks of Nebraska and Western Iowa. Sales - Ser vice - Installation. (FS) REPOSSESSION of complete line of camera equipment from a professional photographer has left us with a wide array of top-line 35 mm cameras, lenses, related items and dark room equipment. Original value $10,800. Appraised resale value Is $5,378.00 Will sell entire stock for $5,000.00. Write File No. WJN c/o Northwestern Banker.________ (FS) CREDIT ANALYST A multi-bank holding company needs a college graduate with business-related degree (12 hours accounting) for the position of Credit Analyst. Prior bank experience helpful. Position requires a working knowledge of personal computers. Salary commensurate with experience. Send resume to: Hawkeye Bancorporation, 6th Floor, First Build ing, Des Moines, IA 50307. Equal Opportunity Employer RYAN AUCTION CO., INC. Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319-382-8648 aqri careers,inc. AG BANKING PERSONNEL SPECIALISTS COMMERCIAL LOAN REVIEW Has the time come to make a change? One of the premiere banking groups in the Twin Cities Is adding to its loan ad ministration team. This high visibility position will review loan administration procedures,.loan quality and internal credit controls in Its metro affiliate bank. This career step- a ping stone opty offers great advancement. Must be de- ™ greed and have 2 + yrs coml lending exp. To$35K. Job #NW1725. JUNIOR COMMERCIAL LENDER Has mgmt failed to recognize your contribution? A well managed west suburban bank who is expanding dramat ically needs a junior coml lender. This position will originate strictly coml loans and administer a portfolio of $3mm to $6mm. Desire a high energy type with 2 + yrs consumer lending exp and 6 mo’s to 1 yr coml lending exp. Must be degreed. To$30K. Job#NW1726. FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR JEAN TODD 9 £ R O B E R T HfflLF OF M M NESO TH, M C . accounting, financial and adp personnel specialists 3636 IDS Center Minneapolis, MN 55402 # ALL FEES COMPANY PAID POSITIONS AVAILABLE ~• COMML LOAN - $50MM suburban bank with excellent growth and earnings history. Handle majority of commer cial credits. Report directly to President. $38K CEO • suburban de novo bank. Experience as CEO or COO required. Strong commercial loan and business develop ment skills desired. Open £ LOAN REVIEW • large urban bank affiliated with major midwestern holding company. Degree and 2-3 yrs. loan revlew/workout experience desired. $30K COMML LOAN - $100MM community bank. Supervise com- ^ merclal lending function. Future advancement possible. 9 $45K R O B E R T H ALF Additional positions available In midwestern states for experienced bankers. accounting, financial and adp paraonnal specialists ALL FEES COMPANY PAID Do you want an organization that can offer career pathing? A Twin Cities bank needs an ambitious negotiator with 4 + yrs coml lending or workout exp. This position req’s an action oriented professional with proven workout ability. If you are prepared to work you will be rewarded. To $40K. Job #NW1724. 9 TRUST OFFICER • medium size community bank with growing trust dept. JD preferred but not mandatory. $27K FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS (515) 244-4414 POSITIONS AVAILABLE COMMERCIAL LOAN WORKOUT SPECIALIST (612) 339-9001 BRANCH HEAD Retail oriented organization seeks proven lender who has seen all sides of a community bank. Looking for 3-5 yr lender w/wealth of consumer and ag experience. $30K. 317 6th Ave, Ste. 650 Des Moines, IA 50309 Financial Careers, Inc. Two Ruan Center/Suite 1000, Des Moines, IA 50309 515/245-3786 SR. LENDER position available for experienced person to develop, plan and Implement overall lending function of S200MM Bank. Send resume to File No. WIW c/o North western Banker. (PA) TOM HAGAN & ASSOCIATES Jean 712/779-3567 Sandl 515/394-5827 Massena, la. 50853 New Hampton, la. 50659 Confidential. Employer paid fees 2024 Swift • Box 12346 North Kansas City, MO 64116 816/474-6874 a w "Serving the Banking Industry Since 1970" Vol. 16 No. 8 Northwestern Banker Newsletter (USPS 873-300) Is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at Des Moines, Iowa. Address all mall subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9
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