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Vol. 10 No. 47 Des Moines, Iowa March 15,1982 combine the bank customer’s tradi tional NOW account or demand de posit acount with access to the weeks. By the end of April, we ex American Money Market Fund. Par pect the service will be available to all of MasterCard’s 12,500 member ticipating banks will have the option financial institutions.” M aster of adding to the basic account a dis Card’s M M A also will be operated count brokerage service, a line of and managed by Fidelity Financial credit, a debit card, and various other bank-sponsored investment Services Group of Boston. prod u cts like A ll-S avers Cer MABSCO originally planned to tificates, CDs, and money market start its pilot project in Oklahoma in January and have its AM M F opera certificates. Edward C. Johnson 3rd, chairman tional in all 13 states in February, o f F idelity Financial Services Group, said “ Banks offering this new product will regularly sweep NOW or demand deposit account balances above a predetermined ‘target balance’ into the money market fund, which will offer com petitive money market yields. When accounts fall below predetermined balances, money will be automatical ly swept from the fund back into the bank account.” Richard Gandrud, chairman of MABSCO, and president of Pope County State Bank in Glenwood, Minn., stated that “ banks offering the discount brokerage option through Fidelity Brokerage Ser vices, Inc. will provide a service but SEC delay in the registration which offers brokerage fees substan tially lower than those charged by held up the program. As reported in detail earlier, the full-service brokerage houses.” MABSCO was formed by the 13 Financial Management Account will SEC Approves Two M M Fs for Banks PPROVAL of the American A Money Market Fund offered by MABSCO Financial Services, Inc., was given March 4 by the Securities Exchange Commission, which de clared its registration effective that date. The SEC action cleared the way for MABSCO’s 6,700 member banks in 13 midwestern states to of fer a comprehensive cash manage ment service named the Financial Management Account. The AM M F will be operated and managed by the Fidelity Financial Services Group of Boston, as report ed in earlier issues. Commencing im mediately, the program will be oper ated on a pilot basis by 12 Oklahoma banks. It is expected that Financial Management A ccounts will be available at participating banks throughout the 13-state region by mid-April. On the same date, March 4, the SEC also declared effective the registration of MasterCard Interna tional’s Money Manager Fund. Rus sell E. Hogg, president and chief ex ecutive officer of MasterCard, said “ a pilot test of the M M A will be in troduced by a cross-section of Amer ican banking institutions — ranging from small-sized banks to money center institutions — within a few Don't gam ble when choosing a correspondent bonk. Com e to the professionals. For any correspondent bonking need . . . overline assistance, d a ta processing services, investm ent counseling . . . just g ive us a call. W e're the professionals w h o put the response in correspondent banking. u ICb UNITED CENTRAL BANK OF DES M O IN E S , N .A . • M E M B E R FDIC • TOLL FREE N U M B E R (800)362-1615 AFFILIATED W IT H U N ITED CENTRAL B A N C SH A R ES, INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cyrus D. Kirk, Vice President 2 Team w ork: One of the reasons we’re first in Iowa. Member f d ic charge of marketing and operations and Karen Niedfelt was promoted to assistant vice president of operations and data reporting for Overland National Bank. Ms. Combs joined the bank in 1979 and Ms. Niedfelt in 1959. Bob Peterson Vault An Affiliate of Northwest Bancorporation Banco Call (515). 245-3131 or toll-free (800) 362-2514 state banker associations, on behalf same time, Lynn S. Fuller, previous of their 6,700 member banks, in the ly executive vice president and chief states of Arkansas, Colorado, Il executive officer, was appointed linois, Iowa, Kansas, Michigan, president and chief executive officer. Minnesota, Missouri, Nebraska, He also serves on the board. Also at North Dakota, Oklahoma, South the bank, Mabel Hartmann was pro Dakota and Wisconsin. moted to vice president and comp The addition of the MABSCO and troller. MasterCard funds brings to three the number of bank sponsored money HAM BURG: Dan Boatman, presi market funds. The MABSCO plan dent of the Iowa State Bank, recently was discussed in detail in the announced the appointment of Dale January N o r t h w e s t e r n B a n k e r Schnitker to assistant vice president. and the Automatic Asset Reserve Mr. Schnitker was previously with Management fund offered to 11,250 the Keith County Bank & Trust independent banks nationwide by In Company, Ogallala, Nebraska. dependent Bancservices Exchange IOW A CITY: Betty Lepic has been (INDEX) of Minneapolis was de promoted to second vice president tailed in the February issue. □ and trust officer at First National Bank. Ms. Lepic, who has been with Iowa News the bank since 1959, was honored AM ES: The First National Bank last year by the Southeast Iowa has filed with the Comptroller of the Group of the N ABW when they es Currency to establish a new CBCT tablished an annual scholarship pro branch at 538 South Duff. gram and named it after her. HASTINGS: Michael B. Jacobson has been promoted to vice president and agricultural representative at City National Bank and Trust Co. • OM AH A: The United States National Bank of Omaha has announced the appointment of John R. Miller, vice president, to manager of the commercial banking division. Mr. Miller joined the bank in 1980 as second vice president following six years with Northwestern National Bank of Omaha. # VERDIG RE: E. James Haggart has been elected president of the Bank of Verdigre, effective March 15. He has been with City National Bank & Trust Co. of Hastings since 1967, most recently as assistant vice president and ag rep. He will suc ceed C.J. Marshall as president of the Bank of Verdigre. Mr. Marshall recently sold the bank to Bob John son and Roger Olson of Holdrege and has moved to Sanabel, Fla. # MESSINA, LASSITER AND SCOTT Getting it done for you. John Messina Jan Lassiter David Scott 234-2486 234-2481 234-2480 Commerce Bank of Kansas a ty na https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC # • • Minnesota News Approval was recently announced by Michael J. Pint, Commissioner of ANKENY: James O. Burright has MOUNT AYR: Marilyn Johnson, a been elected as assistant vice presi cashier who joined Security State Banks, for the merger of the Cale dent of Ankeny State Bank. Mr. Bank in 1959, has been promoted to donia State Bank and the Amer icana State Bank of Hokah, both in Burright, who had been employed operations supervisor. Houston County. The consolidated by C.I.T. Financial for the past 26 bank, to be known as “ Minnesota years as district sales manager, will State Bank of Caledonia,” will be Nebraska News serve as manager of the First Street headquartered in Caledonia, opera Office at West First & Sharmin. ALBION: Doug Haave was pro ting the Hokah location as a full sermoted from loan officer to assistant DUBUQUE: A t Dubuque Bank and vice president of Albion National vice branch, and will be controlled Trust Company, James A. Schmid, Bank, announced Gary L. Kruse, ex by Houston County Agency, Inc., a one bank holding company. Cale president of Crescent Electric Supp ecutive vice president. donia State Bank President Neil ly Company, was named chairman of the board, succeeding William C. GRAND ISLAND: Mary Combs Morey will serve as the new bank’s Brown, who retired recently. A t the was recently named vice president in chief executive officer. ^ ^ w Telephone (816) 234-2000 " £ q £ Supplement to Northwestern Banker Newsletter 3-15-82 • Carleton D . Beh Company Investment Bankers / Financial Consultants 1300 Des Moines Building / Des Moines, Iowa 50309 5 1 5 /2 8 8 -2 15 2 We own and offer subject to prior sale and change in price the following Pledge Orders: MATURITY YIELD TAXABLE EQUIVALENT AT 46% AMOUNT MUNICIPALITY $100,000 BRITT, IOWA General Obligation Street Construction Warrants Interest: 6-1 and 12-1 12-1-82 81/2% 15.74 $125,000 GLENWOOD, IOWA Sewer Revenue Pledge Orders (HFA-EPA-DEQ Take Out) Interest: 6-1 and 12-1 12-1-83 9% 16.67 $ 50,000 HIAWATHA, IOWA Water Revenue Pledge Orders Interest: 6-1 and 12-1 6-1-83 9% 16.67 $300,000 IOWA FALLS, IOWA Hospital Pledge Orders (G. O. Supported) Interest: 6-1 and 12-1 12-1-82 8 3/4% 16.20 $ 50,000 ROLAND, IOWA Electric Revenue Pledge Orders Interest: 6-1 and 12-1 12-1-82 9% 16.67 $ 50,000 SANBORN, IOWA General Obligation Sewer Construction Warrants Interest: 6-1 and 12-1 12-1-82 81/z % 15.74 IN THE OPINION OF COUNSEL INTEREST ON THESE PLEDGE ORDERS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXATION AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. • Pledge Orders are issued in accordance with the provisions of Chapter 384, Code of Iowa, 1981, as amended, to provide funds necessary for the construction of improvements to municipal utilities. In the opinion of counsel, Pledge Orders are subject to the first lien of outstanding debt, if any, and together with such outstanding debt are payable solely and only from the future net revenues of the respective municipal utilités. 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 of Hutton & Company Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ANOTHER TECHNOLOGICAL ADVANCE FROM SHARP. TH E FULL SERVICE TELLER M ACHINE. GET THE ELECTRONIC TELLER MACHINE FULL SERVICE BANKS USE TO HANDLE ALLTHAT TRAFFIC. Z, T he Sharp BE-3500 Teller M achine. Designed to sim plify every kind o f cash transaction and keep your customer traffic m oving smoothly. Even during payday onslaughts. It’s the one that’s proven ideal for full service banks o f all sizes. So it’s the perfect teller machine to help savings and loan institutions make a painless transition to full service, too. The BE-3500 is built with highly advanced electronic circuitry r r , I & <2t> Supplement to Northwestern Banker Newsletter 3 -15 -82 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis systems to make it accurate, depend able, and very efficient. Because it’s a Sharp machine, you can be sure it’s state-of-the-art both inside and out: the BE-3500 is com pact, quiet and easy to use. For banks that see a need for the added resources o f a computer, but insist on flexibility, the B E-3500 works equally well by itself or teamed with an on-line inquiry device. A nd while it speeds teller func tions, this Sharp Teller Machine actually helps prevent mistakes. Its audible error signal allows tellers to correct their mistakes before they com plete transactions. Plus, the BE-3500can be programmed not to operate unless a required form is in place. It also features validation print ing, a memory protection system (in case o f a power failure), a locked journal, a separate supervisor’s key, an audit trail, and five different batch and daily totals that can be read without resetting. It’s so easy to operate, you can train your tellers to use it and put your bank on a course toward more efficient operations, in just half an hour. Best o f all, the BE-3500 records every transaction and per mits tellers to balance against a cashin-drawer total at the end o f the day. And it’s backed by a service program recognized as better than most (just check our reputation around the banking comm unity). To learn more about the Sharp. BE-3500, or to set up a demonstration, send in the coupon below. W hen you’re expanding, go with the company that knows how to give you and your customers full service. D A T A BUSINESS EQUIP. INC. 1228 - 2nd Avenue DES MOINES, IOW A 50314 □ Send me information on the new BE-3500. □ Set up a demonstration. N am e______________________________ Company_______ _____________________ Phone______________________________ Street______________________________ C ity_________________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Z ip __________ . State. CALL ON THE “PERFORM ANCE TEAM ” where comm on transactions are handled uncommonly well. FIRST NATIONAL LI NCOLN 13th & M Street • Lincoln, Nebraska 68501 • M em ber, F.D.I.C. # • • # 0 _ ® ^ DARFUR: Carl Englin, president for the past 12 years, and Mrs. Carl Englin, his secretary, have recently retired after 41 years with the State Bank of Darfur. Their retirement followed the sale of the bank to Westbrook State Bank, managed by Rolf and Fred Hage. Tim Peterson, assistant cashier at State Bank of LaSalle, has been hired to be the new manager of Darfur State Bank, and Irene Zimmerman, previously with Redwood County Farmers Mutual Insurance, will serve as manager of the Darfur Insurance Agency. EAG AN : Mike Larkin, vice presi dent, has been named president and a director of Mid America National Bank of Eagan. Mr. Larkin joined the bank in 1964, left in 1971 to serve as president of a Lakeville bank and returned in 1974 as vice president in charge of commercial lending. FERGUS FALLS: Bruce G. Meyer has been named vice president and commercial loan officer for the First National Bank of Fergus Falls. Mr. Meyer has served as vice president since joining the bank in 1978. HASTINGS: Curtis S. Von Bargen has been appointed vice president and Francis V. Larson, vice president and cashier of Hastings First National Bank. Mr. Von Bargen was previously with the White Rock State Bank and Mr. Larson has been with the bank since 1978. ROSEVILLE: Penny Graves has been promoted to vice president and cashier and David McElroy to assis tant vice president, commercial lending, at North Star State Bank, according to A.E. Ritt, chairman and chief executive officer. W A YZA TA : Casey Rosen has been promoted to executive vice presi dent and chief operating officer of Wayzata Bank & Trust. In addition to his operational duties, he will be training and overseeing the bank’s new building at 900 East Wayzata Blvd. Illinois News MINONK: Stephen O ’Riley was recently named vice president at Minonk State Bank. Mr. O ’Riley, who joined the bank’s staff in 1973, served as assistant trust officer, ag representative and assistant vice president, prior to his promotion. North Dakota News Leo Kone, Correspondent Danker American Trust & Savings Dank The Book of Opportunity Town Clock Plaza, D ubuque, Io w a C A U 319-582-1841, COLLECT https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Wyoming News CHEYENNE: P. James Decker, Jr. has been appointed vice president of agricultural loans at the First Wyoming Bank, N.A. Mr. Decker is also serving as president of the High Plains Agricultural Credit Corpora tion, a subsidiary of the bank. LA R A M IE : First Interstate Bank has announced the recent promotion of Gordon Jenkins to senior vice president and cashier. Mr.-Jenkins joined the bank in 1975, serving most recently as vice president and cashier. BISM ARCK: Myron Pfeifle has been promoted to president and chief executive officer of the Bis marck State Bank. He succeeds James Moses, who will continue as chairman. Mr. Pfeifle started with the bank in 1978, serving most re cently as executive vice president and chief executive officer. MINOT: A t First Western Bank, Curtis Zimbelman was promoted to vice president and comptroller, Richard K. Anderson to vice presi dent and cashier and Joyce Pfau to customer relations officer. Montana News "Opportunity C alls../' Bancsystem, has been elected chair man; Richard Powell, executive vice president, was named president; Gary Kruger, vice president, and Robert L. DeVries, Roberts area rancher, was elected to the board. These staff changes followed the re cent retirement of William G. Westrum, president and chairman. BILLINGS: Gay L. Hovey was recently promoted to assistant vice president at Montana Bancsystem, Inc. She was previously marketing director. FORT BENTON: First Bank-Fort Benton has announced the addition of Alan Williams as instalment loan officer. He has been serving in that position the past four and a half years at First Bank-Helena. RED LODGE: A t Montana Bank o f Red Lodge, N.A., LeRoy Leavitt, senior vice president of Montana ASK JERRY TRUDO to make MNB work for you. Toll free 1- 800 - 332-5991 Merchants ^ National Bank 151 Member F.D.I.C. A BANKS OF IOWA' BANK fiUTDmFVTED SVSTEmS □F IDkUfljnC. “When it co m e s to y o u r insurance needs we put SERVICE first.” 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 INSURANCE AGENT—Immediate opening for an Agency Manager in Western Nebraska. Excellent opportunity. Ex perience required. Salary open. Write file PBL, c/o North western Banker. (PA) SECOND OFFICER for $60 million bank in central Iowa. Needs excellent commercial loan experience. Good loca tion. Write file PBO, c/o Northwestern Banker. (PA) Ag Lender for N.W. Iowa bank located near major city. Re quires 5 or more years experience....................Salary open. Commercial Lender for Illinois bank. Requires 3 to 5 years experience handling larger loans...............................$28,000 Ag Lender for central North Dakota bank. Should be col lege grad with one or more years of banking experience. .. ................................................................................................................................$ 20,000 Office Manager for eastern Iowa bank, located near major city..................................................................................$18,000 CEO for county seat bank in western Iowa. Must have solid lending experience and good track record. . . . Salary open CEO for newly-chartered bank in midwestern state.$32,000 Operations Person w ith accounting background for western Iowa bank....................................................... $20,000 Ag Lender for northern Iowa bank. Must have proven record in ag area...................................................Salary open Write or call Malcolm Freeland, Freeland Financial Ser vice, Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Em ployer pays reasonable fee. À g Banking Specialists * SINCE 1968 When it comes to agriculture, banking and p erson nel. . . go to the specialists — go to AGR Icareers, Inc. Progressive bankers pay us to find the people they need. 2 Ag Lend. O ff.............Cent. W l. $16-22,000 Cred. Mgrs. (2)..............Cent. IA . $20-23,000 Ag Loan Off. (2)......................IA . $20-25,000 Ag Loan O ff...........................W l. $18-25,000 Cred. Supv. & Anal................. IA . $18-22,500 Branch Mgrs. (2)................ : NE . $18-25,000 dOn CAREERS, INC. / —» THE ORIGINAL AGRICULTURAL RECRUITER J / FOR FURTHER INFORMATION RESPOND IN CONFIDENCE TO: Bank Division (Mi l l Olili w of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID 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, w ith tw o years of this experience in a bank. Also ex perienced in installm ent lending and some bank opera tions. Resume and references available upon request. W rite File PBN, c/o Northwestern Banker.___________(PW) Used Coin Counters and/or Sorters. Phone 319/588-2700. (WTB) 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) OVERSTOCKED— New Sharp Teller Machines. Delivered and installed. Reasonable price. Phone 307-634-7402. (FS) WANT TO BUY FOR SALE TWO NCR 499 POSTING MACHINES. Programmed for general ledger daily statement, DDA, and loans. Phone 605/934-2500. (FS) ^ ^ 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: NCR 775-2100 with MDC. Low hours and document count. Under maintenance. Available 30-45 days. Also available other NCR proof machine models—775 single and m ulti pocket, and 7750 with data-capture andauto-feed hopper. CEOs w ith heavy ag lending exp..........................................to $50,000 Phone Julia, 512/250-0794. (FS) Commercial Lenders........................................................... to $32,000 IBM 1255 sorter-Model 1. Available immediately. Phone Ag Lenders............................................................................to $25,000 512/250-0794. (FS) Generalists (Operations/Lending)..................................... to $36,000 •LeFebure Tel Air 5 Drive-In Kiosk. »Executive Dictaphone Dictation System. *3M Cantata Background Music Tape Operations/Cashiers............................................................to $28,000 Player (new). All equipment in excellent condition and Installment Lenders............................................................. to $25,000 available immediately. Phone: Larry Curran, FirstNational Marketing O fficer................................................................. to $28,000 Bank, Humboldt, IA 515/332-1142. (FS) 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 w ill assist you. Employer pays reasonable fee. SERVING PROFESSIONALLY Banking, Financial & Business Personnel, Iowa and Nationwide PITNEY BOWES - MODEL 7200 Phone 319/425-3395. 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 Wyoming. Permanent facilities to 4000 sq. ft. SON CORPORA TION, Box 684, Wichita, KS 67201. Phone (316) 942-8167, call collect. (FS or L) Capital Personnel Service POSITIONS AVAILABLE 714U.C.B. Building,515-283-2545 Des Moines, Iowa50309 CASHIER—rural Nebraska bank close to large city. In surance experience helpful. $25,000 PROFESSIONAL RECOVERY SERVICE PRESIDENT—prefer experienced CEO w ith Agrl-lending background. Investment possible. $35,000 Repossessors serving entire state of Nebraska. Bonded, Insured. Member - Time Finance Adjusters. OPERATIONS OFFICER—clean up situation in small suburban bank. Audit experience and ability to establish accunting systems desired. $30,000 Mark Stelk, President Mid-Nebraska Recovery P.O. Box 962,1024 So. Greenwich Grand Island, Nebr. 68802 Phone: 308/3848503 COMMERCIAL LOAN OFFICER— large a ffiliate of major holding company has a career opportunity for a commer cial lender with 5-7 yrs. experience. Degree desired. $38,000 Does your employees appearance ex press the successful image of your bank? If not, call us today! Æ e / U / io e k ^ CAREER APPAREL [ 5523 2 N. 3N = !St., Carroll, la., 51401 Main 712-792-2748 A W a “ Addresser - Printer. (FS) CONTROLLER—medium size rural bank w ith excellent record of growth desires accounting major w ith good operations experience. $28,000 TRUST ADMINISTRATOR—adm inister 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 H AGAN & ASSOCIATES P.O. Box 12346 - 2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 10 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, $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 ® INTERNAL AUDIT— Degree plus bank audit exp. $25K. Ask the ag banking specialists what’s available without cost or obligation. NEW HAMPTON. IÀ 50659 MASSENA. IA 50853 I (515) 394-3145 (712) 779-3744 yrs seasoned comm’l lender. ASST CONTROLLER—CPA w ith SEC and sophisticated bank exp. $55K. BANKERS AVAILABLE POSITIONS AVAILABLE COMM’L LENDER—5 + $35K. OP OFFICER—Good solid banking bkgd. $25K. 5 1 5 -9 6 4 -1 3 5 8 POSITION AVAILABLE BRANCH MGR—Solid S & L bkgd w ith good communica tion skills. $21K. STAFF ACCOUNTANT—Acctg degree plus internal audit knowledge. High Teens. 301 N. A nkeny B lvd., Suite 2 2 0 WANT ADS Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER, 30615th Street, Des Moines, Iowa 50309. Phone 5 15 / 244-8163. AG/COMM’L LENDER—3-5 yrs Ag & Comm’l lending. Ins license a plus. $20K JR. COMM’L LENDER—3 yrs comm’l lending exp. $25K. Serving Banks throughout the Midwest. A nkeny, Iowa PARTIAL LIST OF AVAILABLE POSITIONS ^
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