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• Vol. 10 No. 45 March 1,1982 Des Moines, lowa Nation to Honor Agriculture Week ^ ^ £ 0 0 0 # TELEVISION film documentary, co-sponsored b y the American Bankers Association in support of American Agriculture Week, is scheduled to be aired on March 18 — the day President Rea gan has designated American Agri culture Day. Prosperity in the Balance, pro duced by Elanco Products Company, takes an in-depth look at the role of American agricultural ex ports in the international balance of trade. It also looks at how several U.S. commodity groups have developed foreign markets for American exports. James R. Eatherly, chairman and president of First National Bank, Tonkawa, Okla., and chairman of the Agricultural Bankers Division executive committee, said, “ This documentary dramatically recog nizes the contribution American agriculture makes toward increasing global well-being and prosperity.” Banks supplied about 39% of the total $174.63 billion in American a g r ic u ltu r e lo a n s th a t w ere outstanding as of January, 1981. Of the 14,500 commercial banks in the nation, some 5,000 of them are iden tified by the A B A as agricultural banks — those with $2.5 million or more in farm loans, or 50% of their total loans supporting agriculture. Prosperity in the Balance, a half hour show hosted by veteran actor Rex Allen, will air during prime time on approximately 100 stations in key market areas for corn, soybean, cotton and wheat. These stations were chosen for their ability to reach large numbers of farmers and agri cultural opinion leaders. Highlights of the show, which was shot on location, include segments on how several commodi ty g ro u p s have s u c c e s s fu lly developed foreign markets: • In Korea, the U.S. Feed Grains Council has increased pork con sumption with the help of the presi dent of the Korea Food Institute, who appears several times a month on Korean television to promote positive attitudes toward pork. • In Germany, the American Soybean Association, through in store cooking demonstrations and a communications program that tar geted food editors, helped increase soybean oil consumption by 50%. • In China, where the commer cial baking industry is almost non existent, U.S. Wheat Associates, Inc. promoted the consumption of bread and noodles with a demonstra tion bakery near Beijing, where bakers were trained using modern baking equipment. • In Italy, Cotton Incorporated engineers toured the textile mills of a large manufacturer, examined fi bers and machinery, and offered ex pertise to reduce costly production down-time by using more American cotton in the fiber mix. Prosperity in the Balance also ex amines the Reagan administration’s position on exports, and it looks at the American consumer’s point of view. “ Agricultural exports are the best way to re-establish a favorable balance of trade, and banks, by sup porting agriculture, are helping to make those exports possible,” said Mr. Eatherly. “ Exports help pay for the Japanese televisions, German cars and Middle East oil we’ve grown accustomed to having. ’ ’ □ Iowa News A1 Maser, president and chairman of First National Bank, Le Mars, and president of The Lakes National Bank, Arnolds Park, has announced CALL ON THE “PERFORM ANCE TEAM ” where com m on transactions are handled uncomm only well. FIRST N A T IO N A L L IN C O L N 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 F ir s t in Iowa, by putting Iowa first. B ob Buenneke IO W A nesMQines A m NATIONAL MATIOMAL BANK BAMK An Affiliate of Northwest Banoorporation Member FDIC his candidacy for the office o f pres ident-elect of the Iowa Bankers Association for the election to be held this fall. COLESBURG: Bank observed sary February house and tours ed facilities. Farmers Savings their 75th anniver 11 with an open of its newly expand DES MOINES: Bruce W. Brown has been appointed vice president of personnel at Bankers Trust. He has been serving as director of training and director of staff development since joining the bank in 1981. IOW A CITY: Pamela Passmore has been appointed administrative as sistant of Iowa State Bank, accord ing to W. Richard Summerwill, president. KEOKUK: Daniel E. Jessen has resigned as senior vice president at Mount Pleasant Bank & Trust Co. to join State Central Savings Bank here as assistant vice president-com mercial loans, effective February 16. He has 27 years of banking exper ience. LONE ROCK: Kenneth W. Jackson, 56, president of the Lone Rock Bank, died February 20 of cancer Don't gam ble when choosing o correspondent bonk. Com e to the professionals. UNITED CENTRAL BANK OF DES M OIN ES. N A ■ M E M B E R FDIC ■ (S15) 245-7 11 1 AFFILIATED W IT H UNITED CENTRAL BANCSHARES, INC. TOLL FREE NUMBER (800) 362-1615 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Banco Call (515) 245-3131 or toll-free (800) 362-2514 after a lengthy illness. His widow, Lela Jackson, is chairman o f the bank. MUSCATINE: A t First National Bank of Muscatine Kelly Burns and Joe Mercer were promoted to vice president; Jan Metzger to assistant vice president and manager of the bookkeeping department, and Deb bie Easterla to manager of the note department. ROCKWELL CITY: National Bank o f Rockwell City has announced the promotion of F.T. Stacy to vice pres ident, Alan C. Berg to assistant vice president and Vickie D. Fagan to cashier. SCHALLER: Mark R. Wagner joined the State Bank o f Schaller February 22 as vice president and cashier, succeeding Thomas Mclnerey, who resigned recently to move to St. Joseph, Mo. Mr. Wagner has been associated with his father, Richard P. Wagner, as executive vice president at State Savings Bank, Hornick, the past five years. Previously, he was with United States Bank of Omaha for five years. Nebraska News FREMONT: Joseph E. Tidwell, who joined Fremont National Bank and Trust Co. in 1979 as a trust officer, has been elected vice president. LEXINGTON: Barbara McCormick was recently elected cashier at Lex ington State Bank and Trust Com- 0 pany, according to Harold P. Stuck ey, president. Minnesota News The Minnesota Bankers Associa tion is soliciting participation from member banks at this time in the M B A 1982 Salary Survey. Each chief executive officer is requested by M BA to complete and return the form mailed by the bank for this purpose to indicate willingness to participate. M B A also has announced a series of six Lending Workshops to be held: March 8, Sunwood Inn, St. Cloud; March 9, Holiday Inn, Fergus Falls; March 10, Best Western, Marshall; March 16, Holiday Inn, Bemidji; March 17, Radisson South, Bloom ington, and March 18, Holiday Inn North, Mankato. Registration for each meeting commences at 9:00 a.m. and concludes at 4:00 p.m. Topics will cover the M B A Commercial Lend ing Procedures and Forms Manual, The Banker’s Role in Farmer Com modity Marketing, Leasing, and Lending in Challenging Times. 0 0 0 0 # CHISAGO CITY: Larry Marek has assumed the position o f president of Chisago State Bank. Mr. Marek • joined the bank in 1978 and was pro moted to executive vice president in 1980. EVELETH: Lee D. Branville has A been promoted to instalment lend ing officer of First Northwestern National Bank of Eveleth. HUTCHISON: Mark J. Erickson 0 has joined the staff o f First National Bank in Hutchison as vice president in the commercial loan department. gSJ5SSSS«*aw» «A B A ct*RtSls«S i « » 11' 06 IBS c o o * ««* * ® N a tio n ? » ? ? ^ ¡>0.w* \0\N K Supplement to Northwestern Banker Newsletter 3-1-82 Carleton D . Beh Company Investment Bankers / Financial Consultants 1300 Des M oines Building / Des M oines, Iowa 50309 5 1 5 /2 8 8 -2 1 5 2 NEW ISSUE MOODY’S: Aa $6,660,000 CITY OF MARSHALLTOWN, IOWA General Obligation Bonds DATED: April 1,1982 DENOMINATION: $5,000 Both principal and semiannual interest (June 1 and December 1; first coupon due December 1,1982) payable at the office of the City Treasurer, Marshalltown, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES MATURITIES 9.90% 111/4% 9.90 750,000 June 1,1990 7.50 $100,000 June 1, 1983 $ 8.00 June 1, 1984 350,000 10.10% 8.40 400,000 June 1, 1985 10.10 800,000 June 1,1991 8.70 June 1, 1986 450,000 $ 9.00 June 1, 1987 550,000 10.30% 10.3/4% 10.30 9.30 $600,000 June 1, 1988 $ 900,000 June 1,1992 9 1/4% 9.60% 10.60 $1,110,000 June 1,1993 9.60 June 1, 1989 $650,000 LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS, DES MOINES, IOWA Marshalltown is located in Marshall County in central Iowa about 50 miles northeast of Des Moines. The City serves as the county seat and principal trading center for the surrounding prosperous agricultural area. The City was incorporated in 1863 and since that time has experi enced a continuing and steady growth in population. According to the 1980 census (26,938) the City ranks as the 17th largest city in the State. The major employers of Marshalltown include: Fisher Controls Company (valves, regulators, controls); Lennox Industries, Inc. (heating and air conditioning products); Marshalltown Instruments - an Eltra Co. (pressure and temperature measuring instruments); Marshalltown Com munity School District (education); and Iowa Veteran’s Home. There are three banks whose total deposits are approximately $212,987,000.00. Transportation is provided by the Chicago and Northwestern Railroad and several motor freight lines and several highways. Marshalltown owns and operates a modern well-equipped airport consisting of two runways, administration building, storage and hangar space for private aircraft and commercial airline service is available in nearby Des Moines. These bonds are being issued to defray the costs of constructing various improvements within the city. FINANCIAL STATEMENT Actual value taxable property, 1980 Assessed value taxable property, 1980 $569,269,181.00 453,572,189.00 Net Direct Debt, including this issue Net Direct Overlapping & Underlying Debt Population, 1980 estimate Net direct debt: Combined net debt: 12,485,000.00 15,644,701.00 26,938 $463.47 per capita $580.77 per capita We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: The information contained herein is not guaranteed, but is derived from sources we deem reliable and is. that on which our purchase of these bonds are based. Bonds of particular maturity may or may not still be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Division o f & Company Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis RISMILLER KEMPER AND OWEN Getting it done for you. David Rismiller David Kemper President Senior Executive Vice President John Owen Executive Vice President Commerce Bank ofKansascity i i St M SÜ ■ ■ M v MEMBER FDIC MINNEAPOLIS: Farmers and Me chanics Savings Bank was merged with The Marquette National Bank on February 21, and opened Monday morning at all locations o f both in stitutions as F & M Marquette Na tional Bank. The merger is the first in the United States between a thrift institution and a commercial bank, resulting in a new bank with deposits in excess of $1.1 billion. Carl R. Pohlad, president of Mar quette National, will continue as president and chief executive officer of the new bank. The merger makes F & M Marquette the fourth largest commercial bank in Minnesota and the third largest holding company in the state and in the Ninth District. Further details are in the March N orth w estern B an k er. M INNEAPOLIS: Peter A. Heegaard, James W. Johnson and Richard D. Schneider have been elected vice presidents and Willis F. Rich, Jr., vice chairman, o f North western National Bank. OKLEE: Security State Bank of Oklee recently announced the pro motion of Larry Skallet to vice presi dent of insurance and Norman Nelson to cashier. O LIVIA: American State Bank of Olivia has named Ralph McCaffery vice president. ' 'Opportun ity % Knocks..." W Tplpnhnnp streets, and Jacqueline Walsh to vice president and cashier. SHAKOPEE: First National Bank of Shakopee has announced the pro motion of Connie L. Schmid to ex ecutive vice president, Daniel G. Steil to assistant vice president and operations officer and Robert J. Blenkush to cashier and manager of the instalment loan department. SILVER LAKE: Charles Greentree recently began his duties as ex ecutive vice president of the Citizens State Bank of Silver Lake. Illinois News The Illinois Bankers Association has scheduled the following dates and locations for the 1982 group meetings: Gr. 7, March 2, Eastern Illinois University, Charleston; Gr. 10, March 3, Southern Illinois Uni versity, Carbondale; Gr. 9, March 4, Fischer’s, Belleville; Gr. 5, March 9, Blackhawk, Jacksonville; Gr. 8, March 10, Holiday Inn, Decatur, and Gr. 6, March 11, Holiday Inn, Brandywine, Peoria. Dates and loca tions for the late March and early April meetings can be found in the March issue of N o r t h w e s t e r n B a n k e r Magazine. president of Northewestem Bank of Lewistown since 1966, recently retired from active management at the bank, remaining on as chairman. Donald H. Davison, senior vice president in administration and loans at First National Bank of Watertown, will succeed Mr. Will as president and chief executive officer. Mr. Will started his banking career with Banco in 1938. Wyoming News MEETEETSE: Lee R. Denny, vice president of First W yoming Bank, N.A. - Lusk, has been named presi dent of First Wyoming Bank in Meeteetse effective March 16. Mr. Den ny joined the Lusk bank in 1977 and was named vice president in 1979. South Dakota News SIOUX FALLS: The National Bank of South Dakota has officially changed its name to First Bank of South Dakota (N.A.) effective Feb ruary 19. Having recently received final approval, all 88 affiliates of First Bank System will now have the word “ First” in their name. W A U B AY: State Bank of Waubay recently elected John Paulson, ex ecutive vice president and manager, Wayne Fischer, vice president and supervisor o f lending functions and Audrey Rhodes, assistant vice presi dent, in charge of auditing and com pliances. Montana News https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9‘ld-9nnn LEW ISTOW N: Warren H. Will, A SK STAN FARMER to make MNB work for you. Toll free 1- 800 - 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA' BANK 4 BANKSFORSALE BANK OWNERSHIP CHANGES —Our Specialty— SELLERS - if you already have a buyer for your stock and there is a question of whether or not it is a fair price - we can make an indepen dent appraisal. BUYERS - if you are about to purchase controlling interest in a bank and there is a question of whether or not it is a fair price - we can make an independent appraisal. Those wishing to buy or sell - we can do the job for you if you are serious. BUTDfTlftTED SVSTEiTlS □F ID W A jn C . “When it c o m e s to your insurance needs we put SERVICE first/9 CROWN BANKING SERVICES 325 W. Prospect Avenue Mt. Prospect, Illin o is 60056 (312)392-5151 Serving Banks throughout the Midwest. 3 0 1 N. A n k e n y B lv d ., Suite 2 2 0 BANKERS AVAILABLE A n k e n y , Iow a 5 1 5 -9 6 4 -1 3 5 8 If you are seeking a qualified officer for your bank, we have the top applicants in the midwest. Listed below are a few of our current applicants: CEOs with heavy ag lending exp...................................... to $50,000 Commercial Lenders.......................................................to $32,000 POSITION AVAILABLE Ag Lenders......................................................................to $25,000 INSURANCE AGENT—Immediate opening for an Agency Manager in Western Nebraska. Excellent opportunity. Ex Generalists (Operations/Lending).................................. to$36,000 perience required. Salary open. Write file PBL, c/o North Operations/Cashiers.......................................................to $28,000 western Banker. (pa ) Installment Lenders........................................................ to$25,000 EXPERIENCED INSURANCE AGENT to manage bank agency. Some bank experience helpful. Located SW Min Trust Officers..................................................................to $30,000 nesota. Salary and bonus commensurate with experience and record. Send resume to Richard Reiter, National Bank of Canby, P.O. Box 70, Canby, MN 56220. (PA) Write or call Malcolm Freeland, Freeland Financial Ser vice, Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. 515/282-6462. Describe your needs, and we will assist you. Employer pays reasonable fee. POSITIONS AVAILABLE Operations person for major midwestern bank. Must have experience in all phases of operation in larger financial in stitution..........................................................Salary open. PARTIAL LIST OF AVAILABLE POSITIONS AG/COMM’L LENDER—3-5 yrs Ag & Comm’l lending. Ins license a plus. $20K BRANCH MGR—Solid S & L bkgd with good communica tion skills. $21K. COMM’L LENDER—5+ $35K. yrs seasoned comm’l lender. JR. COMM’L LENDER—3 yrs comm’l lending exp. $25K. STAFF ACCOUNTANT—Acctg degree plus internal audit knowledge. High Teens. OP OFFICER—Good solid banking bkgd. $25K. ASST CONTROLLER—CPA with SEC and sophisticated bank exp. $55K. INTERNAL AUDIT—Degree plus bank audit exp. $25K. FOR FURTHER INFORMATION RESPOND IN CONFIDENCE TO: OOO Bank Division ( H ill ■11(1 of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 W (515) 244-4414 ALL FEES COMPANY PAID Walk dow n the tellers line this m orn ing. Are you proud o f their appear ance? If not, call us and find out how only $ 1 .0 0 per day per teller will help. JOh/ÜAoekïr^ CAREERAPPAREL I 523 N. Main St., Carroll, Ia „ 51401 712-792-2748 | CEO for $25 million bank in heart of ski area in Colorado. Must be aggressive and proven record of success........... ...................................................... Salaryopen. Cashier with sound operations background for growing bank in western North Dakota. Located in great recreation area.........................................................Salary to $28,000. Commercial lender for Florida banks. Must have college Consult with degree and three or more years experience...................... ...............................................................Salary to $35,000. Homer Jensen or Commercial lender for $150 million Illinois bank. Requires 3 to 5 years experience in bank over $50 million....... ......... Dick Buenneke ...............................................................Salary to $30,000. Ag Lender for north central Iowa bank of $100 million....... Over 50 years’ banking ....................................................................... Salary open. experience Operations person for northwest Iowa community bank.. No fee to seller ............................................................... Salary to $25,000. 246 Insurance Exchange Bldg. Write or call Malcolm Freeland, Freeland Financial Service, Des Moines, Iowa 50309 Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays modest fee. Phone: 515-243-7434 Thinking about selling your bank? Community banker — Married, 42, and experienced in all areas, desires position as second man or cashier in Iowa. Reply to file PBM, c/o Northwestern Banker. (PW) Individual desires upper level ag loan officer or correspon dent officer position for an aggressive agricultural bank or holding company in the Midwest. B.S. degree in Animal Science and concentration in Ag Business. Six years ex tensive ag lending experience in all phases of agriculture, with two years of this experience in a bank. Also ex perienced in installment lending and some bank opera tions. Resume and references available upon request. Write File PBN, c/o Northwestern Banker. (PW) FOR SALE A g Banking Specialists SINCE 1968 When it comes to agriculture, banking and personnel. . . go to the specialists — go to AGRIcareers, Inc. Progressive bankers pay us to find the people they need. Ag Lend. Off.............. Cent. W l. $16-22,000 Cred. Mgrs. (2)............ Cent. IA . $20-23,000 Ag Loan Off. (2).................... IA . $20-25,000 Ag Loan Off........................MN . $20-23,000 Cred. Supv. & Anal................IA . $18-22,500 Branch Mgrs. (2).................NE . $18-25,000 Ask the ag banking specialists what’s available without cost or obligation. NEW HAMPTON. IA 50659 MASSENA. IA 50853 0 (515) 394-3145 (712) 779-3744 agnc4R S R s,iN C ./ THE ORIGINAL AGRICULTURAL RECRUITER J / Reconditioned NCR 299 Posting Machines for: G/L Daily Stmt., Loans. Excellent condition, programmed, and in stalled. Phone 307-634-7402. (FS) OVERSTOCKED—New Sharp Teller Machines. Delivered and installed. Reasonable price. Phone 307-634-7402. (FS) PERMANENT OR TEMPORARY - Sale or lease financial facilities. Available immediately: 14'x60' in Nebraska; 14'x50' with 2 DUWs in Illinois; 14'x60' mobile-type in Missouri; 9'x12'teller buildings available, 14'x60' in Wyom ing. Permanent facilities to 4000 sq. ft. SON CORPORA TION, Box 684, Wichita, KS 67201. Phone (316) 942-8167, call collect. (FSorL) Four LeFebure Coin & Currency cabinets. Also, one Bur roughs Savings machine. Best offer. Phone 312-257-2241. ___________________ _________ (FS) BANK PLACEMENT SPECIALISTS (Our33rdyear) Call experienced professionals to locate the right candidate for your vacancy . . . or the right “ move-up” for yourself. CORPORATE RECRUITERS MIDWEST BANKING DIVISION 202 S. 71 st Street 402/393-5515 Omaha, Nebraska68132 POSITIONS AVAILABLE CASHIER—rural Nebraska bank close to large city. In surance experience helpful. $25,000 PRESIDENT—prefer experienced CEO with Agri-lending background. Investment possible. $35,000 OPERATIONS OFFICER—clean up situation in small suburban bank. Audit experience and ability to establish accunting systems desired. $30,000 COMMERCIAL LOAN OFFICER—large affiliate of major holding company has a career opportunity for a commer cial lender with 5-7 yrs. experience. Degree desired. $38,000 CONTROLLER—medium size rural bank with excellent record of growth desires accounting major with good operations experience. $28,000 TRUST ADMINISTRATOR—administer the employee benefit section of a well established trust department. Law degree preferred. $30,000 Additional positions available for junior and senior of ficers. Your inquiry is confidential. Resume' and salary history 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. 10 No. 45 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 9 0
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