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• Vol. 11 No. 47 Des Moines, Iowa South Dakota Invites Outside H.C.s A N K S and holding companies from outside the State o f South Dakota have been given an open in vitation to enter the state to set up their credit card operations (with no interest rate ceiling) or to set up an insurance company to pursue all fac ets of the insurance business. This is all made possible by SB 256 which was enacted by the legislature in early March, then signed into law by Gov. Willian Janklow on March 5. It became effective immediately under the emergency clause inserted per sonally by the Governor. SB 256 was a consolidation o f three previous bills dealing with the same topic, and was introduced and passed the final day o f the session. A n amendment in the rewrite imposes a $50,000 filing fee on a bank holding company that now may come into the state and acquire an existing bank or organize a new bank through which it may then organize an insurance company to en gage in all facets o f the insurance business. That bank may be formed with a minimum o f $5 million cap ital, down considerably from the $25 million required under previous South Dakota law. The South Dakota legislature a few years ago authorized out-ofstate banking organizations to enter B • • ® ^ ^ ^ 0 March 14,1983 the normal commercial banking ac tivities o f deposits, lending and trust work would continue as before. The state banking board has author ity to lim it activities o f a foreign banking organization coming in the state. The State o f Delaware has been considering a similar bill for the for mation o f an insurance subsidiary. Citicorp has indicated it will go into that state if such a bill is enacted. I f it is not, it is very likely Citicorp will move to South Dakota a second time, this one for the insurance advantage. The Nebraska legislature current ly has on the floor L B 454, which would remove credit card usury lim its, thus perm itting the same kind o f out-of-state lure as South Dakota. Under consideration is a minimum capital requirement o f $2.5 million. One tw ist in the Nebraska bill that does not appear at all in the South Dakota law is that a minimum of 100 jobs must be created by each bank starting up a credit card opera tion in Nebraska. The new entities also would be precluded from com peting with Nebraska banks for reg ular banking business. That Nebras ka bill still must go through three readings. □ the state for the purpose o f buying a bank or forming one to conduct their credit card operations after the leg islature removed interest rate ceil ings on credit card charges. Citicorp was the prime mover in that scenar io and subsequently moved its credit card operations from N ew York to Sioux Falls. Gov. Janklow has been determined to create new business to provide more jobs for South Dakotans. Citicorp, for example, in dicated initially it would employ 250 to 400 people. I t has now exceeded that number. Earlier this year, two Seattlebased bank holding companies, SeaFirst and Rainier, expressed an in terest in similarly m oving their credit card operations to South Dakota. They later withdrew that interest, but it is not known whether it will rekindle after the features of SB 256 are publicized. The banks opened or operated by the out-of-state organizations in South Dakota are limited to the pre scribed credit and/or insurance ac tivities. According to the bill they may not solicit regular banking bus iness in competition with South Dakota banks. I t is not clear what Iowa News an outside banking organization does with an existing South Dakota C E D A R R A P ID S : Henry Royer, for bank it purchases, but it is assumed merly executive vice president-loans Don't gam ble when choosing o correspondent bonk. Com e to the professionals. For any correspondent bonking need . . . overline assistance, data processing services, investment counseling . . . just give us a call. We're the professionals who put the response in correspondent bonking. ucb CENTRAL OFDESM O INES, INI.A. • MEMBER FDIC • TOLL FREE NUMBER (800)362-1615 AFFILIATED W ITH UNITED CENTRAL BANCSHARES, INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W illiam D. Greaves, Vice President Gary McClimen IOWA . T eam w o rk : O n e o f the reasons w e re first in Iowa. nesMOines M A NATIO N AL B AN K Does an airline flight attendant’s ap pearance impress you? Call us today and find how your tellers can do the same to your customers. Bemie Kersey An Affiliate of Northwest Bancorporation H A N C O *4 Member FDic at First National Bank o f Duluth, Minn., has accepted a position as president and chief executive officer o f Merchants National Bank. Mr. Royer has been with First National o f Duluth since 1965 and has served in his most recent position since 1981. E A R L Y : Early Savings Bank Presi dent M arvin G. Hansen has retired after 33 years in the bank as of January 1, 1983. Although inactive in the bank, he will remain a direc tor, chairman and vice president. Mr. Hansen began his career as a banker in 1949 as assistant cashier. H e was appointed president in 1967 following the death o f Ray Stevens. CAREER APPAREL 523 N. Main S t„ Carroll, la., 51401 712-792-2748 | Call (515) 245-3131 or toll-free (800) 362-2514 M O U N T A Y R : Ralph P. DiCesare, Jr., president o f Security State Bank, recently announced the addi tion o f John Fell as vice president in charge o f loans. He previously was office manager at State Bank & Trust, Council Bluffs, for ten years. A lso promoted were M arilyn John son to operations officer and Kim Greenland to ag loan officer. M U S C A T IN E : Peoples National Corporation, Inc., o f Columbus Junction has contracted to buy 92.68% ownership o f Community National Bank from O. Richard Maeglin, present chairman, pending approval o f government regulatory agencies. Peoples National Corpora tion will need approval from the M A N IL L A : J. Randy Hershley was Board o f Governors o f the Federal promoted to vice president at the Reserve System to change from a Manilla State Bank. Mr. Hershley one-bank to a multi-bank holding joined the bank in August, 1982, as company. Present directors, except assistant vice president after spend for Mr. Maeglin, will remain on the ing four years with the Citizens board o f Community National. State Bank in Oakland. SPE N C E R : W illiam Griggs, presi dent of Hawkeye Bank and Trust, Portable ModularBank Building announced the following promo tions: David W . Woodcock to vice SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 president/cashier; Steve Charlson and Larry Geisinger to vice presi dent, and Candi W hittenburg to assistant vice president. Mr. W ood cock is responsible for bank opera tions; Mr. Charlson for commercial lending; Mr. Geisinger for agricul tural lending, and Ms. W hittenburg for installment lending and real estate loans. STO R M L A K E : Paul L. Schimmer, vice president o f Security Trust & Savings Bank, died February 21 at the age of 45. Mr. Schimmer had been with the bank since January, 1961. Nebraska News M A S O N C IT Y : Hal Thompson, vice president o f Mason State Bank, has been advanced to president. He replaces Michael Sullivan, president and owner o f Mason State Bank, who has purchased controlling in terest in the Cedar Rapids State Bank in Cedar Rapids, Nebr., and will be moving there this summer. Mr. Sullivan will continue to own Mason State Bank. Mr. Thompson previously was president o f the State Bank o f Litchfield, and has a banking background spanning 35 years. W O L B A C H : Drue Gellatly was recently promoted to president of the Peoples State Bank. H e had been serving as vice president. Dale Stine, president, is now serving as chairman o f the board. Recipe for success.. X General Bank Equipment S i Systems, Inc. Bemie Miller, Correspondent Banking Officer, has over e j q ^ n-e r* RR45, Box 115 Hiway 7 3 ,3 % Miles North of Int. 680 Omaha, Nebraska 68152 (402)453-3000 Lease* Rent* Buy https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .\ ^ <\ Y B 1 American n c e > .. Help yourself by calling B em ie M iller at 319/'58'2**'184'1.... Supplement to Northwestern Banker Newsletter 3-14-83 H ow can you be sure you're getting your money's worth? Today, it’s important to be very selective about your bond portfolio investments. A lot of your assets are involved. And we’re dealing in a tough financial world. United Missouri (p ? } Bank can make sure you’re investing in high quality securities. We offer exactly what you want. And, if you’d like, we’ll make specific recommendations. Always, with the emphasis on quality. We have a tradition of excellence and an outstanding track record for providing sound bond portfolio services. Very important in this uncertain economy. While some banks \see today’s market condition as a problem, we see it as an opportunity. To get you your money’s worth. We’re the Bond Department at United Missouri Bank. Call or write us today. We’ll hold your investment information in the strictest confidence. Investment Banking Division U N ITE D M ISSOURI B A N K of Kansas C ity n.a. Member FDIC United we grow.Together. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10th and Grand, P.O. Box 226, Kansas City, Missouri 64141 • (816) 556-7200 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MFHutton One Carriers Building Des Moines, Iowa 50309 Telephone: (515) 243-1203 NEW ISSUE We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: $575,000 ONAWA, IOWA General Obligation Bonds DATED: March 1,1983 DENOMINATION: $5,000 Both principal and semiannual interest (June 1 and December 1; first coupon due December 1,1983) payable at the office of the City Treasurer, Onawa, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITIES $45,000 45,000 45,000 $50,000 $50,000 $50,000 7 3/4% June 1, 1984 June 1, 1985 June 1, 1986 7 1/2% June 1, 1987 6 1/2% June 1,1988 6 3/4% June 1,1989 5.30 5.60 5.90 $55,000 6.20 $60,000 6.50 $60,000 6.75 $60,000 $55,000 7% June 1,1990 7.20% June 1,1991 7.40% June 1,1992 7.60% June 1,1993 7.80% June 1, 1994 7.00 7.20 7.40 7.60 7.80 LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS DES MOINES, IOWA Onawa, the county seat of Monoa County is located in extreme Western Iowa, about 55 miles north of Council Bluffs and 35 miles south of Sioux City. The City serves as the commercial, financial and governmental center for the surrounding prosperous agricultural area. This part of Iowa is well known for its large cattle feed lot operations. There is one bank located in Onawa with deposits exceeding $36,999 000. The major employer in Onawa is Westendorf Manufacturing Co., which produces farm wagons and hydraulic loaders. Transportation is provided by one railroad, one Interstate highway, two Iowa highways and an excellent network of paved county roads. The current population is estimated at 3,283. K H These bonds are being issued for the purpose of paying costs of acquisition, construction, reconstruction, extension, improvement and equipping of works and facilities useful for the collection, treatment and disposal of sewage and industrial waste in a sanitary manner. FINANCIAL STATEMENT Actual Valuation, 1981 Assessed Valuation, 1981 Net Direct Debt, including this issue Net Direct Overlapping & Underlying Debt Net Direct Debt: Combined Net Debt: $49,907,483.00 35,883,995.00 1,075,000.00 1,331,500.00 $327.44 per capita $405.57 per capita The information contained herein is not guaranteed, but is derived from sources which we deem reliable and is that on which our purchase of these bonds are based, onds 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 Supplement to Northwestern Banker Newsletter 3-14-83 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CALL ON THE “PERFO RM ANCE TEAM ” where comm on transactions are handled uncom m only well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. Illinois News Ballots will be mailed on March 17 to all Illinois banking organiza tions for the election o f 30 members to form the new Illinois Bankers Association board o f directors. Five will be elected in each o f the five multi-bank holding company re gions established by Illinois law. An additional five board members are to be elected from the 10 largest banking organizations domiciled in Illinois. The election announcement was made by Donald Lovett, IB A presi dent for 1983, and Charles Wilson, IB A president for 1984. Completed ballots will be accepted by the IB A up to and including Tuesday, March 22. The election results will be an nounced A pril 4. This will be the final step in con solidation o f the former IB A and A M B I into the new IB A . The slate o f board candidates are evenly divid ed between IB A and A M B I bankers who have been in positions o f leader ship in the two organizations. North Dakota News F A R G O : First Bank Fargo has elected Jerome B. Woods, Jr., presi dent and managing officer, and W il liam W . Strausburg chairman, ef fective March 15. Mr. Strausburg continues as managing director of F irst Bank S ystem ’ s southern North Dakota affiliates. Mr. Woods succeeds Oliver H. Hagen, who has accepted a position with a bank holding company in Iowa. president, chief executive officer and banks o f South Dakota. a director o f First National Bank of A n annual convention will be Jamestown, effective A p ril 1. Mr. scheduled for the latter part o f July Arndt succeeds Dan Schorsch, who and interested independent bankers resigned in January to pursue other should contact a member o f the interests. Mr. Arndt was senior vice board o f directors for details. president and cashier o f North western National Bank of Litchfield Colorado News until 1980, when he was elected pres D E N V E R : Ted Brown, 61, has de ident and chief executive officer of clined to stand for reelection to the the Ortonville bank. board o f IntraW est Bank o f Denver, o f which he has been chairman. He South Dakota News will continue as chairman o f In Representatives from twenty-five traW est Financial Corp., the holding South Dakota independent banks company which owns the bank. N e met earlier this year and formed the gotiations have been concluded to Independent Community Bankers of merge IntraW est Bank with First South Dakota. The new trade associ Interstate Bank o f Denver, N.A., ation was organized to assist the in later in 1983. Robert E. Lee, presi dependent bankers in keeping their dent o f IntraW est Bank, was named community banks as viable, benefi chairman o f the bank to succeed Mr. cial and necessary parts o f each com Brown. Following the merger, Mr. munity in South Dakota. Lee is scheduled to become chair Elected to head the IC B o f S.D. man and CEO o f the merged bank. were: President—Paul Nordstrom, John Eggemeyer, now executive president, Security State Bank of vice president at IntraW est, will Geddes; V ice P resid en t—H arris become president and COO. Hofer, president, Merchants Bank o f Freeman; Directors—Houston Haugo, president, Valley National Bank o f Sioux Falls; Boyd Hopkins, president, Livestock State Bank of Mitchell; Ken Thompson, president, Miner County Bank o f Howard; A r nold Domke, president, Bank o f Wessington; E.J. Schnaidt, presi dent, Menno State Bank, and James H art, president, Hand County Bank, Miller. The IC B o f S.D. board ugres its members to retain membership with the South Dakota Bankers Associa tion as they feel joint membership will bring additional benefits to the ASK D O U G K E IP E R J A M E S T O W N : Ronald A . Arndt, president o f Northwestern State Bank o f Ortonville, has been elected to make MNB work for you. Ag Banking People Specialists Hire Better...Faster... Easier! Call without cost or obligation to find out who is available. Confidential. Employers have been paying us to find the people they need since 1968. Phone our banking specialist: Linda at 515/394-5827 or Jeannie at 515/263-9598 (If no answer 712/779-3567) I NATIONWIDE aqn careers,inc. *J THE ORIGINAL AGRICULTURAL RECRUITER New Hampton, IA 50659 or Massena, IA 50853 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IRA’s...Keoghs...Pension Plans Serving Banks in Iowa and Minnesota INDEPENDENT SERVICE C O M P A N Y P.O. Box 171 • Albert Lea, MN 56007 507/373-8216 Toll free 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK BANKERS AVAILABLE CEO—now heading $20 million community bank - seeks new situation due to sale of bank......... Salary Negotiable. CEO—now heading $60 million bank - seeks new situation in midwest that offers greater challenge . . . Salary Negotiable. Senior Ag Lender with solid lending record and Iowa State degree wants to relocate to a progressive independent bank. Could be strong second man..............Salary $38,000 Commercial Lender with marketing background and MBA wants to relocate in eastern Iowa or Illinois.Salary $38,000 SKI THE SUMMIT! Correspondent Officer with loan experience for Upper Midwest bank. Five or more years banking required......... ....................................................................Salary Open Ag Rep for northwest Iowa bank. Must have some ex perience andgood potential. Prefer ISU grad or com parable education.......................................Salary $25,000 Omaha National Bank is seeking an experienced, growth-oriented agricultural lending or correspon dent banking officer. Candidate must have a mini mum of 3 years experience, must possess a de gree in finance or related area, and must be profi cient in credit administration and marketing. Posi tion provides excellent advancement opportunity, salary, and benefits. To apply, send resume and salary history to: Personnel Department, Omaha National Bank, 17th & Famam St., Omaha, Ne braska 68102. Phone: 402/348-7911. Equal Opportunity Employer (PA) Office Manager position for major western Iowa bank. Re quires some bank or PCA experience. Good opportunity forfuture .................... .............................. Salary$18,000 Write or call Malcolm Freeland c/o Freeland Financial Ser vices, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. POSITION WANTED AFFILIATED MIDWEST BANCS, INC.—A progressive group of six banks is looking for a commercial loan officer for Its bank In Nebraska City, Nebraska. Prefer 3-5 years commercial loan experience. Send resumes' to Paul H. Albrecht, President, Otoe County National Bank, P.O. Box 458, Nebraska City, Nebraska 68410. (PA) University of Nebraska-LIncoln senior graduating in May with a B.S. in Agriculture, major Ag Economics, desires position leading to an ag loan officer. Has been very active in university clubs, a scholarship winner, excellent com munication skills, and experience with computers. Has farm background and full time work experience with soil conservation offices in four Nebraska counties. Willing to relocate, available June 1,1983. Contact Rita Glaser, Box 279, Spalding, NE68665. (PW) POSITIONS AVAILABLE All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma Credit Analyst, metro bank $34,000 + Commercial Loan Officer, metro bank $30,000 Chief Financial Officer, metro bank $60,000 #2nd Man, commercial dept, head $45,000 President, $50mm bank, small town Commercial Lender, medium sized town EVP, all around country banker Commercial Vice President President, $20mm bank, small town Open $40,000 + $30,000 $48,000 + $32,500 + car Auditor, small town near city $18,000 President, $12mm bank, small town $35,000 Positions available change as more openings become avail able or as positions are filled. If you are interested in making an advancement or change in you: present situation, as a candidate registered with me, you will be informed as posi tions come available that would appeal to you based on what YOU want in a bank, in salary, in location, and in size of town or city. I do not reveal your name to a client bank un til you are interested in interviewing. Eighteen years of banking service as President of both rural and metropolitan banks enables me to find the right bank ing environment for you. Phone or send resume to: Don W. Schooler, 901 A. West Jackson, Ozark, Missouri 65721. Phone (417) 485-6020. AND V fiO W J ASSOCIATES "S u ccessfu l Banking is Q uality P e rson nel" NOTICE IS HEREBY GIVEN that F & M MAR QUETTE NATIONAL BANK intends to sell at one or more private sales on and after March 18,1983, 11,583 shares of capital stock of Nisswa State Bank, Nisswa, Minnesota. Written bids are in vited. The block of stock represents a minority in terest. For further information, contact: Mark Schabert, F & M Marquette National Bank. Tele phone: (612) 341-6589. DWAYNE SMITH Phone 1-800/922-2590 Paradise Properties, Box S Dillon, CO 80435 Commercial Lender with big bank experience and ex cellent education wants to relocate in Colorado or Moun POSITIONS AVAILABLE tain S tate s................................................................Salary$35,000 CEO for eastern Iowa community bank. Must have ag lend Commercial Lender with multi-bank holding company ing background and experience as either number one or wants to relocate in Illinois, Wisconsin or eastern Iowa . . . number two person................................. Salary to $38,000 ..................................................................... Salary $32,000 CEO for $80 million midwestern bank located in university Auditor for Multi-bank holding company seeks position c it y .......................... ...................................... Salary Open with more challenge..................................................Salary$25,000 Senior Ag Lender for ag-related $150 million midwestern Junior Ag Lenders available at salaries ranging to $23,000 b a n k........................................................Salary to $40,000 Write or call Malcolm Freeland c/o Freeland Financial Ser Ag Lender for major Iowa community bank, located in vices, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. eastern Io w a .............................................. Salary $25,000 Phone 515/282-6462. Please let us know your specific needs. We have many applicants who will not answer Sr. Ag Lender for large midwest bank. Some tra ve l........... ...................................................................... Salary Open “ blind ads.” Employer pays modest fee. CORRESPONDENT-AGRICULTURAL BANKING OFFICER NOTICE OF PRIVATE SALE OF BANK STOCK Call me Toll Free to discuss our 1983 Building Plans. Installment Lending position for central Iowa bank. Must have bank experience..............................Salary to $22,000 POSITION AVAILABLE FOR SALE 3 window solid walnut teller counter, with marble deal plates, completely wired, 6' side counter, and connecting gateway. Excellent condition. Available 2-15-83. Contact Alan B. Fender, Valley National Bank, Hamburg, la. 51640. Phone (712) 382-1212. (FS) LeFebure Ext. Flush Walk-Up Window: Model FW-8460, complete with window, heater, sound and drawers. LeFebure Int. Flush Walk-Up Window: Model BK-3340, with 5' window, storage pedestal, forms organizer, and 5' L shaped counter top. Both In excellent condition and under continuous maintenance. Call Randy Davis, Hawkeye Bank & Trust, Mason City, Iowa. Phone (515) 423-2457. (FS) BURROUGHS Exception Item Encoder. Model T-100, $250. Call 319/363-0281. (FS) NCR COMPLETE SYSTEM FOR SALE: NCR 279-300 on-line teller machines, with 751 concentrators, 796-301 CRT’s, cables and J-boxes. WILL SELL AS PACKAGE OR IN DIVIDUALLY. NCR SORTER: Model 6770. (14) pocket. 1200 dpm. Available mid-March. Best offer. Under continuous maintenance. PITNEY BOWES Mailing Machine and Scale. $1,500 or Best Reasonable Offer. Call Jody Van Dyke at 512/250-0794. (FS) BANK PLACEMENT SPECIALISTS (Our 34th year) 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. 71st Street 402/393-5515 Omaha, Nebraska 68132 Affiliated Midwest Bancs, Inc., a progressive group of six banks, is looking for an AGRICULTURAL LOAN OFFICER for its bank In Boone, Iowa. Prefer 3-5 years agricultural bank loan experience. Salary commensurate with ex perience. Send resumes c/o Robert Scott, president, Boone State Bank & Trust Co., P.O. Box 428, Boone, Iowa 50036. (PA) MARKET RESEARCH COMMUNITY ATTITUDE SURVEYS PRESIDENT - AGRESSIVE MANAGER wanted to build a small, farm-oriented bank In central South Dakota. Send resume to file RBZ, c/o Northwestern Banker. (PA) ...Since 1937 Central Surveys, Inc. P.O. Box 100 Shenandoah, Iowa 51601 ___________ (712) 246-1630___________ AG LOAN OFFICER—Progressive $40 million bank in eastern South Dakota needs experienced officer. Send resume to file TBA, c/o Northwestern Banker. (PA) Farmers & Merchants Bank & Trust, Burlington, Iowa, seeks a TRUST OFFICER with five or more years exper ience in a bank as a Trust Officer. Probate, trust, invest ment, and accounting knowledge and experience preferred. A Law Degree Is preferred. Salary negotiable. Apply to P.O. Box 928, Burlington, Iowa 52601. (PA) Immediate opening in a Minnesota metro area bank for a “ take charge” REAL ESTATE LOAN OFFICER. Exposure to commercial lending a plus. Salary commensurate with experience. Excellent benefits. Send resume to file TBB, c/o Northwestern Banker. (PA) Northcentral South Dakota bank, $11.6 million deposits, needs NUMBER TWO MAN with potential to become presi dent in two to three years. It Is very active small communi ty. Must have all phases of banking, agriculture-, commercial lending and operations experience. Contact Boyd D. Hopkins, Jr., President, Live Stock State Bank, 100 East Havens & Main, Mitchell, So. Dak. 57301. Phone 605/996-7775. (PA) OPERATIONS OFFICER—$40 million bank in eastern South Dakota in need of operations officer with ex perience in Burroughs Computers and Info-tech Software. Must be ambitious and agressive. Send resume to file TBC, c/o Northwestern Banker. (PA) LOAN OFFICER for $30 million bank in north central Iowa. Advancement possible. Three to seven years experience needed. Salary commensurate with experience. Write file TBE, c/o Northwestern Banker. (PA) PRESIDENT—$24 million bank In south east Iowa. Must have lending background and ability to produce a high per formance bank. Contact: Larry Wenzl, P.O. Box 1622, Des Moines, Iowa50306. Phone:515/244-5111. (PA) POSITIONS AVAILABLE SR. COMMERCIAL LOAN—manage portfolio for $100MM community bank. Advancement possible as group owns several financial institutions. $Open CEO—medium size community bank within fifty miles of large urban area. Must currently be serving in CEO capacity- $50,000 COMMERCIAL LOAN—$45MM community bank seeks strong commercial lender to supervise all lending func tions. $40,000 JUNIOR OFFICER—small rural bank seeks third officer to handle operational and lending duties. Recent college grad with some bank experience acceptable. $14,000 LENDING OFFICER—service existing loan customers and develop new business for branch of $70MM bank located in resort area. $20,000 OPERATIONS/LENDING—assume number two spot in $20MM suburban bank. Generalist background in banking desired. $25,000 COMMERCIAL LOAN positions available in Nebraska, Iowa, Missouri and Dakotas. Salary $30-$55K DOE. For ward resume'or contact: TOM HAGAN & ASSOCIATES of Kansas City 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 _______ “ Serving the Banking Industry Since 1970” Vol. 11 No. 47 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, $18.00 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
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