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m t %- % * ♦ Senate-House Conferees Meet HE Senate and House Confer T ence Committee began its delib erations on HR 4986 on March 4 as planned, and tackled its job with an intensity and speed that surprised even the optimists in Washington. The following is a summary of the action taken on March 6. Conferees can still change some of the deci sions or the language, but it appears that these points are pretty well agreed upon and should be in the final draft for presentation to the full House and Senate for approval. If either of those bodies change the bill, the Conference Committee will meet again. These are the salient points of the report: • Federal Reserve Section—Re serves amounting to about 12 % will be held on all transaction account balances at all financial depository institutions. This leaves out the Money Market funds, but the Con ference Committee members did agree to request the House and Senate committees to look into this situation im m ediately. For non members of the Fed, the phase-in of reserves will take place over an eight-year period. For current Fed members, the phase-down of re quired reserves will be four years. Fed membership will still be volun tary. • Reg Q—A six-year phase-out was agreed upon, and will be over seen by a five-member control board consisting of: Credit Union admin istrator and representatives of the FDIC, Treasury, Fed and FHLBB, operating on a majority vote with no single veto power. The schedule presently calls for Reg Q to be raised Va % for the first 18 months, V%% the second 18 months and up Vt % over each of the next three years. • U su ry—The home m o rtg a g ed pre-emption of state usury limits was adopted as permanent. State legislatures would have three years in which to rescind this federal action for their state. If not done in three years, this pre-emption would be permanent,. This pre-emption for business and ag loans over $25,000 currently five points over the Fed discount rate, would end under a three-year sunset clause. This gives states or Congress three years in which to address this subject. Also included in this section is parity for state banks with national banks on all other loans; i.e., 1 % over the dis count rate as is now legal for all na tional banks. • Truth-in-Lending—Agreement was reached to do away with restitu tion. Itemization will be needed only to list what is financed. Listing of other charges would be done only at customer’s option. • FDIC—Insurance coverage will go to $100,000. It is not certain what payment banks will have to make. • Thrifts—Expanded powers will permit entry into short-term con sumer loans. • Trusts—Interstate trust pow ers is being worked on but in the meantime there will an 18-month moratorium against trust expansion into other states. • NOWs —Legalized and to be effective December 31,1980. □ Iowa News CEDAR RAPIDS: Jock D. Steven son, assistant to the Iowa superin tendent of banking and a long-time employe of the department, has re signed to become executive vice president of the First Trust & Sav ings Bank in Cedar Rapids. He will be the managing officer of the bank, succeeding Lodge F. Mrkvicka, who resigned recently. Mr. Stevenson’s new appointment is effective March 10 . CLINTON: The First N ational Bank has received consent from the Comptroller of the Currency to open an office at 2335 N. Third St. here. The bank has also filed an appli cation with the regional adminis trator of national banks to open an office in the 1600 block of Lincoln way. INWOOD: The Inwood State Bank has been sold to Eugene Eisma, the bank’s vice president and cashier, CALL ON THE “PERFORM ANCE TEAM ” where com m on transactions are handled uncom m only well. FIRST NATIONAL LINCOLN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13th & M Street Lincoln, Nebraska 68501 • Member, F.D.I.C. 2 FINANCIAL SYSTEMS DISTRICT SALES REPRESENTATIVE Position available for the State of Iowa. Our rapidly expanding business offers a good opportunity for a person with banking experience and knowledge in the areas of installment, mortgage and commercial lending. Benefit program, expenses, salary plus bonus included. Send resume and salary requirements to: T. L. Weaver Midwest Calulator 1012 Grand Ave. Des Moines, Iowa 50309 (515) 283-2513 and Charles D. Riter, a Rock Rapids attorney, by Clifford Pruitt, who is retiring as president after 55 years in banking. The sale is subject to stockholder and regulatory agency approval. LIME SPRINGS: Lyle J. Tomp kins has been promoted from execu tive vice president to president of the Exchange State Bank here. Karl Harken was elected as vice presi dent. LISBON: Robert R. Leinart has joined the Lisbon Bank & Trust Co. as vice president for the loan function. Most recently he was an assistant vice president at United State Bank in Cedar Rapids. SUMNER: Mickey E. Lewis has been elected president of the First National Bank of Sumner succeed ing Reid C. Giese who has taken semi-retirement. Mr. Lewis will also serve as a trust officer. URBANDALE: Lucille Johnson has been elected cashier of the Brenton Bank and Trust Company here. Lenora Durand was named adminis trative officer. nesM O in e s A A NATIONAL BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FQIC_ An A ffilia te of. N o rth w e s t B a n c o rp o ra tio n BANCOw BANKER Come Crow WithUs * -4 * ♦ Bankers Thist D es M oines, Iow a 5 0 3 0 4 V Minnesota News ALTURA: James Kramer was re cently elected president of the Altura State Bank. He is the third gen eration of the Kramer family to hold the position. ROBBINSDALE: Warren Thomp son has been named president of the Guaranty State Bank of Robbinsdale succeeding owner Walter Ras mussen. Mr. Thompson had been executive vice president and a di rector since 1964 when the bank opened. Richard E. Johnson was named executive vice president, and Thomas Rotramel is vice president and cashier. ST. CLOUD: The First State Bank of Rice has merged into The First American N ational Bank of St. Cloud under the charter and title of the latter. Nebraska News Bemie Kersey A r* ST. PAUL: Michael Brennan has been named president of the Minne sota State Bank of St. Paul succeed ing Robert E. Keyes, who will re main chairman of the board. Mr. Brennan had been executive vice president and a director of North east State Bank of Minneapolis. money CamSdy: w BELLEVUE: Hugh Campbell has retired as chairman of the Bank of Bellevue but will remain a member of the board. He co-founded the bank in 1951. Tim Dacey, formerly president, is the new chairman, and Gary Parker, formerly executive vice president, has succeeded Mr. Dacey as president. DANNEBROG: Jam es M. Sim- # dorn, formerly executive vice presi dent of the State Bank of Dannebrog, has assumed the duties of president. He joined the bank in 1977. LINDSAY: The Lindsay State Company has received consent from the Federal Reserve System to be come a bank holding company by acquiring the Bank of Lindsay. OMAHA: First National Bank will conduct its 15th annual Chuck Wag on Roundup March 20 in the AkSar-Ben Sale Pavillion. W agon Master Merv Aegerter will intro duce three noted ag speakers: Merrill J. Oster, president, Pro fessional Farmers of America, Cedar Falls, la.; Roy W. Hatten, speaker/ humorist, Jackson, Miss., and Dr. Clayton Yeutter, president, Chicago Mercantile Exchange, Chicago. Dr. Yeutter earned his BS degree with high honors, a JD degree cum laude and PhD in ag economics, all from the University of Nebraska. The program starts at 10:00 a.m ., Chuck Wagon luncheon is at noon and pro gram concludes by 3:30 p.m. OMAHA: The Omaha N ational Bank has opened CBCT units at the following locations—2923 Leaven worth, 1040 S. 74th Plaza, 3427 S. 84th St. and 12759 Q St. Illinois News Illinois Bankers A ssociation < ♦ V' "ONCE YOU'VE USED TH E B E 3500, YOU’LL NEVER BE RECONCILED TO RECONCILING ANY OTHER WAV." -M R . ERNIE BU R ESH , P R E S., CITIZENS SAVINGS BANK, ANAM OSA, IOWA. $ % § r 4 * How can Sharp be so sure about its BE-3500 Electronic Teller Machine? Because it’s been so consistently earning the respect of bankers all over the country (by helping to enhance earnings in banks all over the country). Going by what bankers themselves are saying, the BE-3500 seems to be the ideal teller machine. “IT’S BEEN TROUBLE FREE ALL THE WAY.” —Mr. Dale Fern, President First Nat’l. Bank, Baldwin, Wise. The BE-3500 breaks the rule that says banking equipment breaks down on the last Friday of the month, which is when the lines »* start snaking out toward the highway. (If you’re using that 25-year-old rebuilt clunker, you know what we’re talking about.) The BE-3500 is a modern piece of equipment built to take 4 I https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis modern-day pay-day onslaughts. On reliability, the BE-3500 is clearly the sane choice for a teller machine. But there are even more compelling reasons. “NOT LIKE ON-LINE SYSTEM S THAT TANGLE YOU UP IN SOMETHING YOU DON’T FULLY UTILIZE.” —Mr. Gurney Tucker, Vice Pres. H Peoples Bank of Shelbyville H Shelbyville, Term. H .. fflSÊËÊÊÈSHBÊÈËÊËÊEË An on-line teller I system is a mistake un- ff| ■ less all that capacity is a must. Buying computer SP capacity you expect to grow into doesn’t pay: while you’re waiting, there’s no return on the excess investment. What level of retrieval do you really need? What will be the cost-per-transaction? Supplement to Northwestern Banker Newsletter 3-10-80 V Answer those questions, and, for most banks, on-line will not turn out to be a sane choice. Indeed, for most banks, there is only one sane choice. The Sharp BE-3500. “SOMEONE WHO KNEW BANKING SAT DOWN AND DID WHAT NEED ED TO BE DONE.” —Mr. Ernie Buresh, President Citizens Savings Bank Anamosa, Iowa. You really have it both ways with the BE3500. It has the most up-to-date technology in the industry at a fraction of on-line costs. Also? instead of being big, noisy, and compli cated like the clunker, the Sharp is compact, light, quiet and simple. (“Common-sense engi neering describes it best”) Instead of encouraging mistakes, like the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis clunker, the Sharp pre vents them. It’s the only stand-alone teller machine on the market with an audible error beeper. It tells your tellers when a mis take’s being made in time to correct it. Dates and teller num bers are set electronically, not manually. Memory is protected against power failure, without having to buy expensive (and bulky) power pack options. Any thing that needs validating can be validated. In opera tions requiring a form, the BE-3500 can be pro grammed not to operate unless the form is in place. The BE-3500 gives you up to 5 different batch and daily totals. It automat ically generates a total of cash-in-drawer as a by product of the day’s opera tions. (“Does anything you want it to.”) It’s backed by better service than most sys tems, and it takes your tellers all of half an hour to learn how to use it. (“Makes the employees happy because it saves time.”) The Sharp BE-3500 Electronic Teller Machine. It’s the only sane way to reconcile yourself. fh -# '4- DATA BUSINESS EQUIPMENT, INC. OFFICES: 1228 - 2nd Ave., Des Moines, Iowa 50314 (515) 288-3000 LINCOLN CASH REGISTER CO. 625 - 1st Ave. S.W., 1001 Garfield, Lincoln, Neb. 68502^ Cedar Rapids, Iowa 52405 (402) 477-2506 (319) 366-6000 □ Send me information on the BE-3500. □ Set up a démonstration. Name_____________ ,------------------- ;----Title_______________________________ CompanyStreet___ State____ Phone___ (Area Code) & Group Meetings are underway this month. Groups 7, 9 and 10 met last week at Charleston, Belleville and Carbondale, respectively. The sche dule for the remaining groups is as follows: Group 1—March 28, Bismarck Hotel, Chicago. Business meeting 3:30 p.m., reception 4:45 p.m. No banquet. Group 2—March 20, Holiday Inn South, Joliet. Business meeting 4 Phone Dick Jung p.m., (speaker is Oliver Mann, per Waterloo, Iowa 50704 Member FDIC at 1-800-772-2411, sonnel director, Darfield Industries, Chicago) reception 5:30 p.m., ban into the Belleville National Bank loan officer, was named loan officer quet 6:30 p.m. Group 3—March 19, under the charter and title of the and assistant cashier, and Mary Jo O’Hare Hyatt Regency Hotel, same latter. Robish was promoted from teller to time frame and speaker. Group 4— assistant cashier. March 18, Emerald Hills Country MOUNT VERNON: Security Bank PIERRE: Dan Davis and Michael Club, Sterling, same time frame, no & Trust Co. has received consent T. Denton have been promoted to from the FDIC to establish a remote speaker. senior vice president at the First Group 5—March 25, Holiday Inn service facility in Waltonville. National Bank in Pierre. Mr. Davis East, Springfield. Business meeting PITTSFIELD: The First National 4:30p.m., reception 5:30 p.m., ban Bank of Pittsfield has received con is in charge of the bank’s entire loan area, and Mr. Denton, a CPA, is in quet 6:30 p.m. Group 6—March 27, sent from the Comptroller of the charge of operations. Continental Regency, Peoria, same Currency to open an office at the time frame. intersection of Routes 36 and 54 Group 8—March 26, Holiday Inn, here. Wyoming News Decatur. Business m eeting 3:30 p.m., reception 5:30 p.m., banquet SOUTH HOLLAND: V. M. Peters CHEYENNE: Jack Crews has been has been promoted from vice presi elected president of the American 6:30 p.m. dent to senior vice president at the BELLEVILLE: The Belleville Na Thomridge State Bank. He is in National Bank here. He joined the tional Savings Bank has merged charge of all lending a ctiv ities. bank in 1976 and was named senior vice president and cashier last year. Marilyn H. Stefans was named an Betty M. Oyler was promoted to assistant loan officer. vice president and cashier, and Max “Tony” Minnick was named a vice president. Single System Banking Now National Bank o f W aterloo North Dakota News The North Dakota Bankers Asso ciation’s Consumer Credit Confer ence has been changed from the previously scheduled time in March to Tuesday and Wednesday, April 8-9. The location will still be the Kirkwood Motor Inn, Bismarck. ASK MARK CHRISTEN to make MNB work for you. Toll free 1- 800- 332-5991 Merchants ^ National Bank 151 M ember F.D.I.C. A BANKS OF IOWA BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FARGO: Norman G. Tenneson has been appointed a vice president at the State Bank of Fargo. He has served on the board of directors since 1966 and was attorney for the bank’s original incorporation that year. WEST FARGO: Funeral services for Kenneth A. Nielsen, 66, were held last month. He had served as president of the West Fargo State Bank until his retirement in 1975. CHEYENNE: Darryl G. Gaines has been promoted to vice president and trust officer at the First Wyoming Bank, N.A.-Cheyenne. He joined Wyoming Bancorporation as head of Cheyenne’s trust department last July. GILLETTE: Ben R. Doud, Larry Rexroat and Judy R atcliff have been promoted to the position of assistant vice president at Wyo ming National Bank of Gillette. All three had been working as loan officers. Barbara Ferrill was pro moted to real estate and personnel officer. South Dakota News LARAMIE: Daniel G. Furphy has been promoted to a ssista n t vice president and controller at the First National Bank of Laramie. He join ed the bank as a student intern in 1974. DE SMET: D. Wayne Meyer has been promoted from vice president to senior vice president at the Peo ples State Bank here. Arden Nelson, BOULDER: Arapahoe N ational Colorado News 4 Bank of Boulder has received con sent from the Comptroller of the Currency to open an office at the intersection of 33rd and Arapahoe here. DENVER: Richard A. Kirk has been elected chairman, of the United Bank of Denver. He will continue as president and chief executive officer and, as chairman, succeeds John D. Hershner who retired February 1. LITTLETON: The Littleton Na tional Bank has received consent from the Comptroller of the Cur rency to open an office in the Woodlawn Shopping Center here. Montana News HAMILTON: K. Fred Reeves was promoted from assistant cashier to assistant vice president at Citizens State Bank here. All other officers were re-elected at the bank’s recent annual meeting. W ANT A D S Rates 50 cents per word per insertion. Ad $2 for file numbers. Identity of file number advertisers cannot be revealed. Payment in advance, please. NORTHWESTERN BANKER 306-15th St., Des Moines, Iowa 50309 Independent Management Services Specializing in Bank Acquisitions By Independent Investors No Broker Fees Call 515-223-1044 Homer Jensen — DickBuenneke 3737 Woodland Ave. Executive Suite 120 West Des Moines, Iow a50265 POSITION AVAILABLE Bank Operations Officer— Our client is a $180 million west suburban Chicago bank seeking an individual with a minimum of five years experience in bank oper ations management. Individual must have background in Fed Reserve System, teller operations, customer relations and employee supervision. Excellent growth opportunity and outstanding fringe benefits. Salary commensurate with experience. Send resume to Glen E. Smith and Associates, 707A Davis Road, Elgin, IL 60120. Equal Opportunity Employer M /F ________ (PA) One 11’x26’ double drive-in unit with walk-in lobby. Used only 18 months. Contact R. J. Maze, Vice Presi dent & Cashier, First National Bank of Monroe, P.O. Box30, Monroe, Wl 53566. Phone (608)328-5100. (FS) Cummins 300-2980 electric check cancelling machine in excellent condition. Make offer. Write file JBU, c /o Northwestern Banker._________________________(FS) Burroughs TC-750 posting machine. Call Mr. Deal at (312)231-1800._____________________ __________ (FS) analysis expertise would be invaluable in contract surety bond underwriting. This position with a leading property and casualty insurance company, may offer you the growth opportunity you have been seeking. To find out more, please call or write Brian Cornish, AID Insurance C o., Box 974, Des Moines, IA 50304. Phone (515)280-4348. (PA) _______ An Equal Opportunity Employer M / F_______ Operations. Supervisory position in large Iowa bank. Accounting and bank operations experience needed. Potential for advancement for aggressive and pro spect oriented person. Salary commensurate with education and experience. W rite to file JBO, c /o Northwestern Banker._________________________ (PA) Ag Lending Officer— North central Iowa bank of $38 million deposits. Ag grad and some operating experi ence preferred. W rite file JBN, c /o Northwestern Banker. ___________________________________ (PA) Ag Lender with a minimum of three years experience needed by progressive community bank in midwest. Excellent opportunity and benefits. Write or call Malcolm Freeland, c /o Northwestern Banker. (PA) Experienced individual to perform credit analysis and loan maintenance function; no lending involved. Must be able toassume full responsibility. Prior experience as a lending officer or bank examiner ideal. Growth oriented. Eastern North Dakota bank. Write file JBT, c /o Northwestern Banker.________ (PA) Modular bank buildings: 12’x56’ mobile, 12’x40’ wood with two DUW’s, and fully equipped wood permanent buildings (up to 3000 s.f.), occupy within 45 days. Over 250 installations. SON CORPORATION, Box 684, W ichita, KS67201. Orcatl collect(316)942-8167. AG LENDING O F F IC E R . . . N W I L .........$18-$21,000 AG LENDING O FFIC ER . . .S E M N . . . . $16-$19,000 AG CREDIT V P . . . E I A .............................. $20-$23,000 For details give Linda, our banking specialist, a call. Since1968, employers have been paying us to find the people they need. 3OH CAREERS,INC m J . AGRICULTURAL PERSONNEL RECRUITERS (515)394-3145______________ New Hampton, IA 50659 TRUST— South Dakota bank wants solid person that can handle a trust department completely. $21,000 E .V .P .— Great opportunity in small bank. Work in commercial. Some ag experience a plus. Equity po tential. $28,000 #1— Must be able to handle $ 2 0 + million bank. W ill have total responsibility. $30,000 AG OFFICER— West Iowa bank has good opportunity. Livestock experience needed. $20,000 ¡I ■4r '-4eÁ ‘ . FOR FURTHER INFORMATION RESPOND IN CONFIDENCE TO: V ■A (LlçA-' & V- V* ■it"' Investor wants to purchase $20 million (approx.) deposit bank in live community. Long term invest ment. Need good management. No brokers. Write file FBX, c/0Northwestern Banker.______________ (WTB) UPDATE YOUR SECURITY Professionally installed closed circuit television and 35mm auto cameras. "%■ A u to m a tic tape d ia lers and police panel connection are available to suit your needs. SERVING PROFESSIONALLY REDUCE CREDIT LOSSES. W e collect your overdue bills nationwide without charging collection agency fees. Results guaranteed. Free sample kit. Handcraft, Dept. 010-1, Box 32536, Jamaica, NY 11431. (GS) POSITION WANTED ...........$18-$20,000 LENDING OFFIC ER . . . N W I A ................. $15-$20,000 TRUST OFFICER— W ill set up new department for ex panding bank. JD a must. $26,000 Banking, Financial & Business Personnel Iowa and Nationwide CREDIT SUPERVISOR. . .Denver ...........$15-$20,000 INSURANCE O FFIC ER . . .N W IA * A Consumer Loan Officer for $40 million bank. Two to AG CREDIT CAREERS AG LENDER— Handle ag lending for m ulti-unit bank system. $23,000 SECURITY SYSTEMS, INC. 3920 Delaware Des Moines, IA 50316 [515] 265-1161 POSITION AVAILABLE five years experience, must have farm lending ability. W rite file JBS, c /o Northwestern Banker.______ (PA) Bank Operations-Controller— Four to six years oper ational experience needed. Excellent salary and fringe benefits. Call Brenton Bank & Trust of Cedar Rapids, (319)364-9135. (PA) COM M ERCIAL— Large Iowa bank wants a commercial loan officer. $35,000 Commercial Loan Officer— Your financial and credit FOR SALE OR LEASE FOR SALE PARTIAL LIST OF AVAILABLE POSITIONS BANKING POSITION WANTED— Experience as loan officer for finance company and insurance sales. Business and economics degree. W ill relocate. Write file JBV, c /o Northwestern Banker.____________ (PW) I BANKERS PARTICIPATING CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 BANKERS WANTED AGRILN— Near metro area BR. MGR.— Michigan .....................................20K ................................................23K AUDITOR— New position .........................................24K COML. LN— Minnesota ............................................. 30K INS. AGENCY— Iowa ........................................... + 1 8 K CORRESP. BKR— Missouri .....................................25K E.V.P.— Minnesota ....................................................30K Lease Plan, Inc. 545 - 31st Street Des Moines, Iowa 50312 R. L. “DICK” SELLON • P.D. “DUANE” DEVAULT Send resume and salary history in confidence to: TOM HAGAN & ASSOCIATES Box 12346 / North Kansas City, Mo. 64116 (816)474-6874 Bank Personnel Service _________ Vol. 8 No. 46 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 per year. Second class postage paid at Des Moines, https://fraser.stlouisfed.org Iowa. Address all mail subscriptions, changes of address [Form 3579], manuscripts, mail items to above address. Federal Reserve Bank of St. Louis A
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