Full text of The Northwestern Banker : March 1984, 91st Year, No. 1446

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Exclusive Investment Survey!
Special Commercial Finance Section:
• Financing the troubled borrower
• 3 Asset-based opportunities for 1984
• Flexibility—key to loan restructuring
• Participations will improve profitability

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Federal Reserve Bank of St. Louis

Dick, Lynn or Doug could help make 1984
a better year for your bank.
Merchants National Bank would like to introduce you to
three of its newest correspondent bankers. Any one of them
could help your bank prosper in '84 by helping you offer
your customers a wider range of services.
Dick Retz has broad experience in agricultural
financing. A graduate of Iowa State University with a degree
in Farm Operation, he's been a dairy farmer, raised hogs and
crops and has several year's experience in ag lending, farm
management and decision counseling.
Operational services is Lynn Whiteman's specialty. She is
ready to assist you with federal fund investments, cash
management techniques, check-clearing services and
operational innovations. Lynn, a capable commercial credit
analyst, w ill be happy to explain how our computerized

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Federal Reserve Bank of St. Louis

analysis programs can increase your bank's profitability.
Doug Keiper was born and raised on his family's dairy
farm in Atkins, Iowa. And, although he's been in b a n k in g #
for the past 15 years, he's still got one foot on the farm. In
addition to being an MNB correspondent banker, he also
farms 160 acres in Benton County w hich gives him a keener
understanding of your customers' needs in the area of
agricultural financing.
#
At MNB, we're dedicated to bringing together the
personnel, resources and services you want in a
correspondent bank. That's MNB's commitment to
productivity. And we're ready to put it to work for you. To
discover how MNB can help your bank grow in 1984, c a ^
319/398-4320 or toll-free, 1-800-332-5991.

Merchants National Bank

Cedar Rapids. Iowa 52401

M ember F D I C

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A BANKS OF IOWA BANK

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First Interstate

NÖKfflWESTERN

Forms EDP
Subsidiary

MARCH 1984

•

91stYear

•

No. 1446

MEMBER OF AUDIT BUREAU OF CIRCULATION
MEMBER BANK MARKETING ASSOCIATION
OLDEST FINANCIAL JOURNAL SERVING THE CENTRAL AND WESTERN STATES

ON THE COVER
This is the state-of-the-art new trading floor put into operation late last year by
First National Bank of Chicago. It houses First Chicago personnel who handle
financial markets, foreign exchange, municipal financing and affords increased
coordination between operating groups. It handles dealer operations in U.S.
Governments and Agency securities, underwriting and trading operations in state
and municipal securities, funding operations that utilize CDs, Fed Funds, com
mercial paper, bankers acceptances and Euro dollars—all financial services of
the bank. This 7th floor has 17,300 square feet of open space, 250 traders, sales
personnel and support, who have both visual and vocal access to each other to in
itiate and complete trades. The entire floor, a portion of which is pictured, cost
$10 million.

FEATURES

investment survey

Area bankers reveal their strategies for 1984

Flexibility!

Allen Olson says its key to loan restructuring success

3 asset-based opportunities

John McCauley describes three currently popular approaches

Participations

David Herrick points to improved profitability

Financing the troubled borrower

Michael Litwin discusses alternatives and procedures

DEPARTM ENTS
6
8
24
27
30
33

34 Twin Cities
48 South Dakota
50 North Dakota
53 Wyoming
54 Montana
55 Colorado

Calendar
Bank Promotions
Corporate News
lllinios
Wisconsin
Minnesota

59
60
64
67
82
88

Nebraska
Omaha
Lincoln
Iowa
Des Moines
Index of Advertisers

NORTHWESTERN BANKER
306 15th Street, Des M oines, Iowa 50309

Phone (515) 244-8163

Publisher & E ditor

A ssociate Publisher

A ssociate E ditor

Consultant

Ben Haller, Jr.

Steve Burch

Becky McBurney

Malcolm K. Freeland

No. 1446 Northwestern Banker (USPS 397-620) is published monthly by the Northwestern
Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscription $1.50 per
copy. $18 per year. Second Class postage paid at Des Moines, Iowa and at additional
mailing office. POSTMASTER: Send all address changes to Northwestern Banker, 306
Fifteenth Street, Des Moines, Iowa 50309.
Digitized forNFRASER
orthw estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

IRST Interstate Bank of Denver I
F
received approval in late Janu-|
ary from the Comptroller of the Cur-|
rency to create a data processing!
marketing subsidiary to be known]
as TransAction Systems, Inc., ac
cording to Robert E. Lee, chairman|
of the board and chief executive of-|
ficer.
<11
Mr. Lee said the new subsidiary]
began operation immediately under]
the direction of
Joseph F. Phern e tto n , p re s i
dent of the new
company and an
executive vice
p re s id e n t
at
First Interstate
Bank of Denver.
TSI is staffed by
em ployees of
First Interstate J.F. PHERNETTQN
Bank of Denver’s computer servift
division.
Mr. Phernetton said the new com
pany would continue to offer banks
standard services such as basic
application processing systems aUtl
sophisticated networks such as the
statewide TransAction and nation
wide CIRRUS automated tellers.
“But, in addition to those ongoi,
programs that we have tradition
offered, we will make a strong mov
into the microcomputer field by of
fering banks and savings and loan
one-stop shopping for software pf
ducts such as credit analysis, word
processing, asset/liability manage
ment, loan pricing and loan loss con
trol that are not necessarily tied t
the First Interstate host system .^
Mr. Phernetton also said th a t 11
the future TSI will be piloting a pro
gram to develop microcomputei
software to automate standard
banking functions such as openup
new accounts, new loans and teller
operations.
In addition to Mr. Phernetton
senior management of the new sub
sidiary will include Larry Eil^p
senior vice president, marketing and
sales; Eugene A. Oldham, senior
vice president, account support, and
Patrick B. Ruckh, senior vice presi
dent, product development/admir^tration.

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of investment you would like to make in the lease.
(You can make an investment of as little as 10% or as
much as 75%.)
With Participation Leasing you serve valued
customers on a direct personal basis. You attract
new customers. And you can do it without high
start-up costs.

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Federal Reserve Bank of St. Louis

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Convention Calendar

\
ABA—American Bankers Association
AIB—American Institute of Banking
BAI —Bank Administration Institute
BMA—Bank Marketing Association
IBAA—Independent Bankers Association
of America
NABW—National Association of Bank
Women, Inc.
RMA—Robert Morris Associates

National Conventions & Schools
Mar. 18-21 —RMA Financial Statement Anal
ysis Workshop, Denver.
Mar. 18-21—ABA National Automated Clear
ing House Association Conference, Fair
mont Hotel, New Orleans.
Mar. 25-28—BMA Community Bank CEO
Seminar, Marriott’s Marco Beach Resort,
Marco Island, Fla.
Mar. 25-28—BAI Bank Auditors’ Conference,
New Orleans.
Mar. 25-29—IBAA Annual Convention, New
Orleans Marriott, New Orleans.
Apr. 1-4—BMA Advertising Conference,
Grand Hyatt Hotel, New York.
Apr. 8-11—ABA National Retail Banking
Conference, New York Hilton.
Apr. 16—RMA Customer Profitability Analy
sis Workshop, St. Louis.
May 3-4—RMA Customer Profitability Analy
sis Round Table, Chicago.
May 6-9—ABA National Conference on Real
Estate Finance, Hyatt Regency, Chicago.
May 13-16—ABA National Operations and
Automation Conference, Washington
Convention Center, Washington D.C.
May 13-16—RMA Commercial Loan Docu
mentation Workshop, Chicago.
May 16-19—IBAA 24th Seminar/Workshop
on the One Bank Holding Company, Hotel
St. Anthony, San Antonio, Tex.
May. 27-June 8—BMA School of Bank Mar
keting, University of Colorado, Boulder.
May 27-June 1—BMA Essentials of Bank
Marketing School, University of Colo
rado, Boulder.
May 27-June 1— BMA School of Trust Sales
and Marketing, University of Colorado,
Boulder.
June 2-6—ABA National AIB Leaders Con
ference, Hyatt Regency, Atlanta.
June 3-15—Stonier Graduate School of
Banking, Rutgers University, New Bruns
wick, New Jersey.
July 8-13—ABA National Agricultural Bank
Management School, Iowa State Univer
sity, Ames, Iowa.
July 15-21—ABA National School of Bank
Card Management, University of Oklaho
ma, Norman.
Aug. 19-22—IBAA 25th Seminar/Workshop
on the One Bank Holding Company, The
Broadmoor, Colorado Springs.
Sept. 9-12—ABA National Bank Card Con
vention, Washington Hilton, Washington,
D.C.
Sept. 16-19—BMA 69th Annual Convention,
New Orleans Marriott Hotel, New Orleans.
Sept. 16-19—ABA National Conference on
Human Resources, Fairmont Hotel, New
Orleans.
Oct. 20-24—ABA Annual Convention, New
York.

N orthw
estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

State Conventions & Schools

Colorado:

Apr. 8-10—CBA Agricultural Banking Con
ference, Four Seasons Hotel, Colorado
Springs.
May 3—CBA Investment & Funds Manage
ment Conference, Denver.
May 10-11—CBA/BMA Marketing Confer
ence, Colorado Springs.
June 7-9—CBA Annual Convention, The
Broadmoor, Colorado Springs.
Illinois:

May. 13-18—Illinois Bankers School, Illinois
State University, Normal.
May 20-June 1—Agricultural Lending
School, Southern Illinois University,
Carbondale.
June 3-8—Illinois Graduate School of Bank
ing, Illinois State University, Normal.
June 3-8—IBA Advanced Ag Lending Clinic,
Illinois State University, Normal.
June 13-15—IBA Annual Convention,
Peoria Convention Center, Peoria.
June 17-23—IBA Consumer Lending School,
University of Illinois, Urbana.
Sept. 23-25—ICBI Tenth Annual Convention,
Indian Lakes Resort, Bloomingdale.

Credit Conference, Duluth.
July 22-27—Midwest Banking Institute, Ulw
versity of Minnesota, Morris.
Aug. 12-17—MBA Commercial Lending
School, St. Olaf College, Northfield.
Aug. 12-25—Graduate School of Banking,
University of Wisconsin, Madison.
Aug. 22-25—Independent Bankers of MW
nesota Annual Convention, Breezy Point
Resort, Pequot Lakes.
Montana:

May 24-25—MBA Trust Conference, H ^ i
tage Inn, Great Falls.
™
June 23-30—MBA Annual Convention, Big
Sky.
Nebraska:

Mar. 18-23—Schools of Banking Intermedia®)
School, 1st Session, Regency West,
Omaha.
Mar. 21-22—NBA Ag Outlook Conference,
Kearney Holiday Inn.
Apr. 8-13—Schools of Banking Commercial
Lending School, Regency West, OmahdH
May 2-4—NBA 87th Annual Convention,
Lincoln Cornhusker.
June—NBA Presidents Golf Tournament,
Lochland Country Club, Hastings.
June—NBA Washington Trip.
July 8-13—Schools of Banking Trust Scho®i
Rodeway Inn, Overland Park, Kansas.
Sept. 9-14—Schools of Banking Basic
School, 2nd Session, Rodeway Inn, Over
land Park, Kansas.

Iowa:

North Dakota:

Mar. 19-21 —IBA Ag Credit Conference,
Ames.
Apr. 24-25 IBA Chief Executive Officers Con
ference, Des Moines.
Apr. 7-11 —IBA Washington, D.C. Trip.
May 7—Group 6 Meeting, Des Moines.
May 8—Group 8 Meeting, Iowa City.
May 9—Group 7 Meeting, Waterloo.
May 10—Group 4 Meeting, Dubuque.
May 14—Group 5 Meeting, Council Bluffs.
May 16-17—Iowa Young Bankers Confer
ence, Des Moines
May 22—Group 2 Meeting, Fort Dodge.
May 23—Group 12 Meeting, Okoboji.
May 24—Group 3 Meeting, Clear Lake.
June 17-22—Iowa School of Banking, Iowa
City.
July 8-12—Colorado Outward Bound
July 19-21 —Iowa Independent Bankers An
nual Meeting & Convention, The New Inn,
Okoboji.
Aug. 19-25—Commercial Lending School,
Ames.
Sept. 16-18—IBA 98th Annual Convention,
Des Moines.
Oct. 23-24—Consumer Lending/Retail Bank
ing Conference, Des Moines.

Apr. 2-4—NDBA Washington Visit, L-Enfant
Plaza, Washington.
Apr. 10-11 —NDBA Head Teller Workshop,
Jamestown.
Apr. 25-26— NDBA/SDBA Trust Conferen^,
Holiday Inn, Fargo.
™
Apr. 26-27—NABW State Convention, Ramada Inn, Grand Forks.
May. 8-9—NDBA Agricultural and Consumer
Credit Conferences, Sheraton Inn, Minot.
June 3-8—NDBA School of Banking, Univ^-sity of North Dakota, Grand Forks. W
July 5-7—Dakota Bankers Centennial Con
vention, The Broadmoor, Colorado
Springs.

Minnesota:

Mar. 29—MBA Marketing Conference, Hyatt
Regency, Minneapolis.
Apr. 5-6—NABW Minnesota State Confer
ence, Registry Hotel, Bloomington.
May 9—MBA Investments and Funds Man
agement Conference, Hilton Inn, Min
neapolis.
May 15-18—MBA Washington Legislative
Conference, Washington D.C.
June 11-13—MBA Annual Convention, Radisson St. Paul Hotel.
June 24-29—MBA Minnesota School of
Banking, St. Olaf College, Northfield.
July 4-6—Upper Midwest Agricultural

South Dakota:

<||)

Apr. 2-5—ABA South Dakota Legislative
Trip, Wasington D.C.
Apr. 11-12—SDBA Ag Credit Conference,
Kings Inn, Pierre.
Apr. 25-26—SDBA/NDBA Trust Conference,
Holiday Inn, Fargo.
#
May 20-25—SDBA Officer Training School,
University of South Dakota Campus, Ver
million.
July 5-7—Dakota Bankers Centennial Con
vention, The Broadmoor, Colorado
Springs.
®
Wisconsin:

Apr. 11-12—WBA Agricultural Bankers Con
ference, Paper Valley Hotel, Appleton.
June 10-13—WBA Annual Convention, H y ^
Regency & Mecca, Milwaukee.
W
Wyoming:

Apr. 22-25—WBA Biennial Washington, D.C.
Trip.
June 13-15—WBA 75th Annual Conventic®
Jackson Lake Lodge, Moran.

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Federal Reserve Bank of St. Louis

1-800-342-4848
N orthw estern Banker, March, 1984

Bank Promotions

Waller, general banking services,
and Dirk H. Hilkmann, multina
tional banking services.
New second vice presidents are
Centerre Bank, St. Louis: Ray
Renato
P. Bacci Jr. and Jacqueline
mond B. Johnson, Jr., senior vice
L.
Witkosky,
Latin America, and
president, has been appointed
Clara
M.
Jurivich,
U.S. banking ser
Centerre central group manager,
vices.
succeeding E. Randolph Whitelaw,
who recently resigned to take
Drovers Bank of Chicago: James
another position. Mr. Johnson is J. Carmody, president, has an
vice chairman of the bank’s loan ap nounced the appointment of two
proval committee and a member of new senior vice presidents and two
the credit policy and rate sensitivity new vice presidents.
committees.
David M. Chan was named senior
Commerce Bancshares, Inc., Kan vice president and controller. He has
sas City: William A. Wenthe has been with Drovers since 1979 and is
been named vice president and direc a graduate of Southern Illinois Uni
tor of marketing for the 44 banks in versity, where he received his B.A.
the holding company. He held a sim in accounting. He is a CPA.
Robert A. Klein has joined Dro
ilar position with County Tower
Corp. in St. Louis, which was merged vers as vice president of operations.
recently into Commerce Bancshares. Previously, he was executive vice
At the lead bank, Commerce Bank president and treasurer of Ben
of Kansas City, N.A., Jonathan M. Franklin Savings & Loan in Oak
Kemper has been elected executive Brook.
Robert D. Maram is a new vice
vice president. He will continue his
responsibilities as group manager president in the commercial loan
for the metropolitan, international department. Previously he was vice
and corporate service departments, president in commercial loans at the
as well as assuming new responsi Lincoln National Bank in Chicago.
bilities for the regional banking Mr. Maram is a graduate of Franklin
department and strategic planning. University in Columbus, Oh. and
He joined the bank in 1982 as vice received his MBA from Xavier
president in the metropolitan de University in Cincinnati.
Stephan A. Kaminsky, who joined
partment. Prior to that, he was a
commercial banking officer for Citi Drovers Bank in 1970, has been ap
corp, located in Chicago. Mr. Kem pointed vice president for the item
per holds a B.A. from Harvard Col processing department. He is a grad
lege and an M.B.A. from Harvard uate of the University of Illinois,
Graduate School of Business Ad where he received a B.S. in account
ing.
ministration.
First National Bank, St. Joseph,
Continental Illinois Corporation,
Chicago: David G. Taylor, vice Mo.: At a recent board meeting,
chairman and chief financial officer, David Bray was elected senior vice
has been elected chairman of Conti president and chief fiscal officer, ac
nental Illinois Limited, the corpora cording to W. Dale Maudlin, presi
tion’s London-based merchant bank dent and CEO. Mr. Bray is respon
ing subsidiary. He succeeds Lord sible for fiscal planning, control and
Wakehurst, chairman of CIL since staff support division. He received a
1973, who has been named to the B.A. degree in accounting from
newly-created position of deputy Northwest Missouri State Universi
chairman and will continue as a ty. He joined the bank in 1970 and
member of the executive committee. most recently was cashier and comp
At Continental Bank, six new vice troller.
John Ford was promoted to vice
presidents were named. They are:
Marshall A. Blake, John H. North, president. He joined the bank in
Josephine J. Raper and Peter C. 1979. Mr. Ford received a B.A.
Vaky, financial services; Richard M. degree from Tarkio College in 1970
ROMOTIONS and other an
P
nouncements have been made
by the following banks:

DigitizedNfor
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estern Banker, March, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

and an MBA in business administra-^
tion in 1972 from the University o f^
Arkansas.
Bill Reiss was elected assistant
vice president in charge of install
ment lending.
^
Other promotions include: Bobbie*
Sonner to Controller, Chuck Bran
son to personnel director, Helen
Brittain to corporate secretary and
cashier, and Shirley Black to loan of-^
ficer.
Manufacturers Hanover Corpora
tion, New York: John F. McGillicuddy, chairman and CEO of the
holding company and bank, has^
been elected a director of United
States Steel Corporation.
United Missouri Bancshares, Inc.,
Kansas City: Melinda Moss has joined#
the holding company as public rela
tions representative. She is respon
sible for media relations, as well as
communications with employees of
the affiliate banks. Prior to joining#
the company, Ms. Moss was the cor
porate communications specialist
for Midwest Research Institute. She
holds a B.S. degree in Journalism
from Kansas State University.
®
At United Missouri Bank of Kan
sas City, Noel Shull has joined the
bank as a vice president in cor
respondent banking. He will be call
ing on banks in southeastern Mis-w
souri. Previously, he was a loan
review officer for the holding com
pany.

Chase Bank Offers
Two New Products
The Chase Manhattan Bank, N.A.,
New York, announced it is offering®
two new products for the trust de
partments of correspondent banks: a
money market account and a dis
count brokerage service.
_
Joseph J. Harkins, senior vice®
president in charge of domestic in
stitutional banking, said Chase’s in
stitutional money market account,
CIMMA, allows correspondents act-^
ing as custodians or fiduciaries to*
take advantage of a short-term in
vestment instrument that combines
high rate with low risk.
Chase Institutional D iscount^
Brokerage Service is designed for
correspondents acting as custodians
and fiduciaries. Trades will be ef
fected through Rose & Company In
vestment Brokers, Inc., Chase’s dis-^
count brokerage subsidiary.

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Federal Reserve Bank of St. Louis

Norwest Reveals Hub System
To Serve Community Banks
ASED on its extensive survey firmly committed to the correspon
of what community banks have dent banking business.”
B
The essence of the new program said they want from their city cor
respondent bank, Norwest Corpora
tion last month unveiled an am
bitious new correspondent bank ser
vice program that fulfills the pro
mise made by Norwest Chairman
John W. Morrison in December at
the 19th Annual Duck Dinner and
Management Conference, “We are

called Hub banking—is that many
Norwest correspondent banking of
ficers will be located in 14 Hub
banks in 13 cities across six upper
midwest states. By living in these
locations, the field officers, or client
executives, as they will now be
called instead of the traditional

Americorp Financial, Inc.
Rockford, Illinois

and

First National Bank & Trust Co.
Pekin, Illinois

have jointly announced the intention
of Americorp to acquire First National.
The undersigned served as advisor
and analysts for both parties.

W/A
SW O RDS ASSOCIATES. INC.
PROFESSIONAL BANKING CONSULTANTS

4900 OAK • KANSAS CITY, MO 64112 • (816) 753-7440

DigitizedNfor
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Federal Reserve Bank of St. Louis

D. NARAYANA

D.G. PEDERSON

name of correspondent bank of
ficers, will be closer physically to the
limited number of banks each Hub
will be assigned. The small number
of banks per Hub was determined sc#
as to maximize the service that can
be given to each community bank by
the entire Norwest Corporation,
rather than service from just one of
Norwest’s city correspondent banks#
“Through Hub banking,” ex
plains Darin Narayana, senior vice
president of Norwest Corporation’s
Financial Institutions Group, “any
respondent bank may have access tcP
the entire line of services, products
and lending capacity of the entire
Norwest Corporation. Key to all of
this will be our concept of part
nership banking.”
^
Development of Hub
Mr. Narayana said Hub banking
was developed from an in-depth su r#
vey that was instituted following
the announcement a year ago of the
corporation’s name change. “Bank
ing deregulation has brought on a
completely new era of financial se r#
vices competition,” he added. “ In
line with the continuing deregulatory trend, we changed our corpo
rate name a year ago from North
west Bancorporation to Norwesl#
Corporation. We want our name to
signify more than the traditional
banking role with which major
banks like ours had been associated.
Our corporation for some time ha^G
offered a broad range of related fi
nancial services. That name change
was part of our signal to the busi
ness world that we are growing, and
that we’re capable of changing an(#
adapting as new business needs and
opportunities arise.
“As part of that forward step we
analyzed the broad range of our se r^
vices and established these four key
areas of Norwest’s banking service:
1. Commercial banking. 2 . Retail
banking. 3. Ag banking. 4. Financial
institutions. The concern of our F i^
nancial Institutions Group reflects

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C o n tin e n ta l Illinois N ational B a n k an d T ru s t C o m p a n y of
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Federal Reserve Bank of St. Louis

N orthw estern Banker, March, 1984

that fourth key service.”
Mr. Narayana said senior corpo
rate and correspondent bank officers
explored in depth the extent of pre
sent business, how it was obtained,
how it was being serviced, and in
what direction the correspondent
business would go. “We haven’t
really changed our method of doing
correspondent banking,” he said,
“while the dynamics of banking and
the marketplace have changed
around us. We had a highly re
spected consulting firm work with
us in conducting an in-depth survey
on our entire correspondent bank
business so we could determine how
we can deliver better products in a
better way to assist our respondent
banks.”

each Hub center will be assigned
perhaps 50 to 80 banks. The field of
ficers thus will be able to see each of
the community banks assigned to
them 12 to 14 times a year, instead
of only occasionally as is now the
case with more widespread travel.
This, he said, will make it possible
for the field officer to showcase Norwest Corporation’s 75 or more pro
ducts it presently offers, rather than
just those an individual bank might
have to offer its community banks.
“ In this way,” Mr. Narayana said,
“the resident field officer will act on
behalf of the entire Norwest Corpo
ration with all our products. They
act with the lending limit of the to
tal corporation behind them, which
is $120 million. They become the sin
gle link between a community bank
Closer to Markets
CEO and Norwest, which establish
He said the FIG study team came es a genuine partnership.”
up with a new definition of corre
Donald G. Peterson, senior vice
spondent banking. “As a result,” president of Norwest Bank Minne
Mr. Narayana relates, “we say to apolis, N.A., said the field calling of
the community banker, ‘You have ficers will be titled client executives.
the market in town. We have the “Each one,” he added, “is backed up
marketing and lending muscle. We in his or her Hub center with a team
must be close to your marketplace of service experts—on cash letters,
and know your market better to EDP, ag lending, operations, for ex
serve you.’ The result of this pointed ample—and that client executive
study is the Hub system. This idea truly becomes the quarterback of
is revolutionary,” he added.
the Hub.”
Mr. Narayana said the Hub sys
tem calls for correspondent bank
Hub Networking
field personnel to actually reside in
Mr. Narayana said he believes
the areas where they are assigned.
“They won’t have to travel for days that in three to five years the Hub
at a time and be away from their center could develop into network
families,” he pointed out. He said ing for all the banks in the Hub area.
—Our 64th Year—
THE CROP H A IL PROTECTION
FARM ERS PREFER
STATEMENT OF CONDITION At Close of Business D ecem ber 31, 1983
ADMITTED ASSETS
U.S. G overnm ent B o n d s ...........................
O ther Bonds ...............................................
Accrued Interest, e tc ..................................
Cash In Bank and Home O f f ic e .............

$7,283,360.45
420,000.00
145,323.79
266,842.50

Total A d m itte d A s s e ts ......................

$8,115,526.74

LIABILITIES
Reserve fo r Federal and State T a x e s ...................................
O ther L ia b ilit ie s .........................................................................

26,921.79
511,100.00

T otal L i b il it ie s ..................................................................... $ 538,021.79
Funds for P o licyh olde r P r o te c tio n ........................................
7,577,504.95
$8,115,526.74
S e cu ritie s carried at $400,028.00 In above s tatem ent are
dep osited w ith pub lic a u th o ritie s as required by law.

SQUARE DEAL INSURANCE COMPANY
DES MOINES, IOWA 50308
(515) 282-0497

N orthw estern Banker, March, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

If}/)
f)
M u tu a l

“This networking can operate in th<®
exchange of checks and in lending
situations,” he said. “ In Mankato,
for example, all 80 banks in that re
gion could exchange checks daily.
Norwest, could bring together th®
checks not belonging to those 80
banks and send them at once by
pouch to Minneapolis. This speeds
up the total processing and ac
complishes three things: 1. Reduc®
tion in float. 2. Reduction in trans
portation costs. 3. Reduction of
clearing fees being paid. We’ve
made up our minds we’re going to be
leaders in bringing about a systen®
that will reduce float and decrease
the fees being paid by respondent
banks for check clearing.”
Competition
Mr. Narayana also addressed th™
element of competition. “We have
all kinds of competition,” he stated,
“and th a t’s a reality. If Norwest
stayed away from a given area, i ^
would still have competition. Thi™
approach of Hub creates the part
nership—we’re not trying to take
away the business of community
banks. We won’t deny we compete^,
but there are those areas where we
won't compete. We recognize local
loyalties. One leading respondent
bank said he had 10 competitors, on
ly one of them a bank. If that on®
bank quit competing, the other nine
still would be there.
In one way or the other we’re go
ing to those markets in our region
and we’d rather be there in partner^
ship with the banks. Partnership is
our emphatic theme—a client-driven
partnership.”
Special Reports Coming
®
Mr. Narayan revealed that anoth
er part of the expanding FIG pro
gram besides the Hub program is a
series of eight exclusive reports
dealing with eight important issue®
facing community banks, as identi
fied in the survey. “We’re doing re
search and writing on these right
now,” Mr. Narayana said. “When
these special reports are complete«^
they will represent an ambitious ed
ucational program that will be avail
able to respondent banks.”
Mr. Narayana and Mr. Peterson
said the move to a Hub concep®
means “we’ll have the largest finan
cial institution calling force and
team support force in the entire mid
west. We think it’s the most dynam
ic thing that has happened to corre®
spondent banking in its history. ’’ □

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Federal Reserve Bank of St. Louis

“Building Customer Relationships”
. . .theme for ABA National Retail Banking Conference
HE newly-created ABA Con
T
sumer Financial Services Group
will host the 1984 ABA National Re
tail Banking Conference April 8-11
at The New York Hilton Hotel in
New York City. The conference is
designed for all executive level
bankers who have responsibility for
any aspect of the consumer market.
Bankers who put the program to
gether report it is designed to deal
with all segments of consumer bank
ing-upscale, middle and mass mar
kets.
The program spreads across three
days of meetings. In addition to
main speakers at general sessions,
registrants will have an opportunity
to attend their choice of six concur
rent sessions offered daily, a total of
18 such sessions. Additionally, at
the end of each day of meetings,
bankers may participate in peer
group sessions, organize by asset
size, to give attendees a chance to
delve more deeply into issues
brought up during the earlier ses
sions.
Chairman of the Conference plan
ning task force is George E. Kilguss,
Jr., senior vice president, Citizens
Bank, Providence, R.I. The chair
man of ABA’s Instalment Lending
Division, who will preside at the con
ference, is Paul G. Tongue, senior
vice president of The Chase Manhat
tan Bank, New York. Here is a re
view of the program they have pre
pared:
Monday, April 9
Opening general session starts at
8:15 a.m.
• Keynote Address: “Our Chang
ing Environment: An Explosion of
Opportunity,” presented by Thomas
G. Labrecque, president and chief
operating officer, The Chase Man
hattan Bank.
• “Three Perspectives: Identify
ing, Segmenting, and Serving the
Marketplace.” Panelists: James
Donnelly, professor, College of
Business and Economics, Universi
ty of Kentucky, Lexington; James
R. Kieff, senior vice president and
director of research, Batten Barton
Durstine and Osborn, New York,
and James F. Calvano, president,

N orthw estern Banker, March, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Payments Systems Division, Ameri
can Express Travel Related Services
Company, Inc., New York.
• Concurrent sessions will run
from 10:45 a.m. to 11:30 a.m., with
these topics scheduled: Discount
Brokerage Service, Insurance Op
portunities, Lines of Credit, Per
sonal Asset Account, Variable Rate
Lending, Financial Planning for the
Middle Market.
• The noon luncheon address,
“ M anagement and M otivation:
Some Banking Basics,” will be
delivered by Michael H. Mescon,
Ph.D., Regents’ Professor of Human
Relations and Chairman, Depart
ment of Management, College of
Business Administration, Georgia
State University, Atlanta.
• From 2:15 p.m. to 3:00 p.m. there
will be a repeat of the concurrent
sessions. Peer group discussions will
follow until 5:00 p.m.
Tuesday, April 10
The general session will com
mence at 8:15 a.m.
• ABA President C. Robert Brenton, president of Brenton Banks,
Inc., Des Moines, la., will speak on
“Meeting the Challenges.”
• A special conference presenta
tion will occupy the balance of the
second general session, titled “Re
sults of ABA’s Research on Retail
Bank Distribution Systems.” The
results of this major industry study
will be unveiled for the first time for
registrants at this conference. ABA
says it is one of the most thorough
research studies yet undertaken on
trends in consumer demand for fi
nancial services, the impact these
trends have on the products and ser
vices banks choose to offer and how
these products are best delivered.
• Concurrent sessions will follow
at 11:00 a.m. until 11:45 a.m. Topics:
Action Centers, ATM/POS Alterna
tive Strategies for Plastic Access,
Human Resources—Who to Hire,
Franchising and Joint Ventures,
The Trust/Retail Connection, Video
Banking.
• A lighter, but effective, tone will
be injected at the noon luncheon by
popular speaker Art Holst, former
NFL official who makes inspiring
points about life, business and pro

fessionalism in his talk, “The Game
of Life.”
• Concurrent sessions will be
repeated, starting at 2:15 p.m. A t^
3:15 p.m. peer group discussion will®
center on the Retail Banking Re
search Study until 5:00 p.m.
Wednesday, April 11
• Concurrent sessions will open®
the day at 7:30 a.m. Topics: Man
aging Bank Card Fraud, Generating
Consumer Loan Volume, Costing
and Pricing Consumer Credit, Effec
tive Sales Management, Participa®
ting in Secondary Markets, Strate
gic Planning for Managers. They
will be repeated, starting at 8:20
a.m.
• The closing general session, ti®
tied “Organizational Approaches,”
starts at 9:15 a.m. and concludes at
11:45 a.m., to end the conference.
Panelists will discuss “Bank Con
sumer Strategies for the Upscale®
Middle and Mass Markets.” Mode
rator will be Raoul D. Edwards,
editor of United States Banker,
Falls Church, Va. Panelists will be
H. Lee Boatwright, III, presiden#
and CEO, CentraBank, Baltimore,
Md.; John D. Mangels, president,
Rainier National Bank, Seattle,
Wash., and G. Lynn Shostack,
senior vice president, Bankers Trus®
Company, New York.
A special program for spouses has
been arranged.
D

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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

N orthw estern Banker, March, 1984

You can't com pete in today's tough financial
world with yesterday's computer.
Introducins the Monroe System 2000. The new standard for microcomputers.
As your services expand, you
need a microcomputer that
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That’s why Monroe
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whole new standard for microcomputers.
That means larger data storage, communication with
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And, the System 2000 gives you extra power, with
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from Intel, making it one of the fastest 16-bit systems
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Plus, It comes with the most popular operating
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packages which provide an entire library of software to
help you take on today’s tough competition.
Now, as great as this may sound, there’s more!
Monroe gives you service and support direct from over
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MS isa trademark of Microsoft Corporation. CP/M-86 is a registered trademark of Digital Research, Inc. Monroe System 2000 is a trademark of Litton Business Systems, Inc. © 1984 Litton Business Systems, Inc.

N orthw
estern Banker, March, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Investment Survey
Area bankers reveal their strategies for 1984

ANKERS responding to the In
vestment Survey conducted in
recent weeks by the N o r t h w e s t e r n
B a n k e r expressed their opinion on a
broad range of questions relating to
in te re s t rate prospects for 1984, loan
demand in months ahead, the vol
ume of high interest CDs rolling out
in the near future, the amount they
will increase or decrease govern
m e n ts and municipals this year, and
the sources they turn to, if needed,
for outside investment advice.
The questionnaire was prepared
in consultation with experienced
^t>ank investment officers and vete
ran investment firm executives.
Respondents in the vast majority of
cases completed almost every por
tion of the survey. Comments were
o ffere d in various places in most of
the replies. Here is a summary of the
information compiled from the sur
vey respondents. There were many
comments offered, with considerable
^duplication of thought, so only a few
are given for the sake of brevity.
Question 1
Q. Which factors most influence
vour assessment of interest rate proaspects?
Bankers were asked to enter 1, 2,
3, in order of importance to them the
four factors identified, or to enter
-other factors they felt more closely
"answered the question, with the re

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

orthwestern

B anker S

urvey

Chart 1
“ Which factors most influence your assessment
of interest rate prospects? Federal Deficits (A);
Economic Indicators (B); Election Year (C); An
ticipated Loan Demand (D).”

Funds, 2-year Treasury notes and
6 -month Money Market Certifi
cates. They answered as follows:
Fed Funds ..................9.076%
2-Yr. Treasury Notes . . 10.26%
6-Month MM Certificates9.18%

Question 3
Q. What do you anticipate for
loan demand during 1984 in your
trade area, compared to 1983?
Chart No. 2 reflects the confidence
of these respondents in a continuing,
gradual upswing in the economy for
this year—voted by 60% of them. In
fact, that total, coupled with the
12 % looking for their loan demand
suits shown in Chart No. 1. As to be “much greater” totals 72%
noted, bankers’ first choice for the who expect loan demand to be up
factor most influencing interest
Chart No. 2
rates at this time is the size of “ What do you anticipate
for loan demand during
federal deficits (checked by 36% of 1984 in your trade area, compared to 1983?”
respondents). This is in keeping with
100. —
____________________ ,
the deep concern expressed at the
ABA Leadership Conference in
Washington, D.C., last month, al
though this survey was conducted
well ahead of that meeting.
Question 2
Q.
What do you think interest
rates will be in 1984 for the follow
ing?
Bankers were asked to fill-in the
rate they expect this year for Fed

G reater

Less

N orthw estern Banker, March, 1984

this year, while 21 % expect it to be
the same, and only 7% think loan de
mand will be less.
Question 4
Q. How much in high interestbearing CDs (12% rate or higher)
will be maturing in your bank this
year?
Of the total number of question
naires returned, 89% answered this
question. Of that number, 4.3% said
they have no high interest-bearing
CDs of 12 % rate or higher. The re
maining 96% of those who com
pleted this portion of the survey had
an average of $3,100,000 in highinterest CDs.
In response to a second part of
this question—“what % of your
deposits does this represent?”—the
answer was 9%.
When asked how this would affect
their loan rates, 43% said it would
have no effect, while 31% said the
rollout would push their loan rates
slightly lower, and another 26% said
rates either would possibly go lower
or should go down. (Chart No. 3.)
Several bankers said 6 -month
Money Market rates would have
much more influence on rates.

another Iowa president stated, “Al
though this may not result in lower
loan rates, it may postpone the
necessity to raise rates.”
The president of a $60 million
Minnesota bank which has 15% in
high-interest CDs replied, “Not
significantly. Low loan demand has
restricted spread. Will attempt to
balance decreased cost of certifi
cates against increased cost of
Money M arket savings, Super
Notes, etc., during past two years.”
Another Minnesota president ($87
million bank), said, “This will result
in a lower base rate for the bank and
a corresponding lower rate to custo
mers.”
In North Dakota, one senior of
ficer at a $100 million bank said
“this will allow us more flexibility in
setting lower targets or to increase
net interest margin, or a combina
tion of both.” Another North Dako
ta banker ($28 million assets) stated,
“Should reduce (loan rates) by 3A of
a percent, as that is how much our
cost of funds should drop by
12/31/84.”
An officer in a small Nebraska
community bank relates, “we have
already reduced our rates in order to
be competitve in our area. We will
probably be able to lower rates by
another one-half to three-quarters
percent.” A slightly larger Nebras
ka bank responded that the run off
of 11.5% of his deposits now in highinterest CDs will “give us a profit
for 1984. Did not raise rates on bor
rowers th at can’t afford over
13.5%.”

Chart No. 4
“ Do you have a written Investment Policy In you™
bank?”

where we cannot change with the
market in one day.”
“Written Investment Policy pro
vides general guidelines which allow
portfolio manager needed flexibility
for day-to-day management of funds.”
“Can be very valuable if we use it
and stick to it.”
Minnesota banks: “Policy has
value in that it details what types oK®
investments are allowed—any de
parture must have board approval.”
Montana banks: “I feel we are a
little on the conservative side, but it
has helped us by being liquid anc?®
not having to sell at any losses.”
Illinois banks: “Absolutely needed
Chart No. 3
“ How much in high interest-bearing CDs (12%)
to keep goals in mind and in line for
rate or higher will be maturing in your bank this
quality and liquidity.”
year?”
“Little value.”
•
Of the 96% who completed this portion of the
survey, they reported an average of $3.1 million in
“Little value. Used only as guide
such CDs to run off this year, averaging 9% of
line for amounts authorized in
their total deposits. They were then asked: “ How
separate categories.”
will this affect your loan rates,” and those
responses are charted below.
South Dakota banks: “Provides
restrictive guidelines for investment™
officer. Feel that Investment Policy
has been good for bank.”
Question 5
“ If someone other than myself
Q. Do you have a written Invest (president of bank) had to become in
ment Policy in your bank?
volved in investment decisions, it™
Chart No. 4 shows the positive would be a valuable tool.”
response to this question—65%
North Dakota bank: “Due to the
“Yes,” wile 32% said “No,” and 3% changing investment options and
of the questionnaires did not answer the changing value of liquidity, our_
this question. Of those who have an Investment Policy has and will^
Investment Policy, 86 % stated they change drastically because of dere
No
Low er P ossibly
review it annually.
gulation forces.”
E ffect
Lower
Although a small number said
Iowa banks: “We pay attention to
One Iowa banker responded that they have an investment policy to it. Our loan losses have averaged .3^
the 10 % of his deposits rolling out of keep bank examiners happy or be of 1% over the past five years.”
high-interest CDs this year would cause the examiners ask for it, the
“Helps us explain what we have
not affect loan rates substantially, majority of bankers who say they in mind. Examiners love it!”
adding “decreased interest costs have an investment policy in their
“ Investment committee meets at
will be off-set by additional funding bank endorse its value to them—in least quarterly to discuss current in-^
for loan losses.”
varying degrees. Here are some typi vestment outlook and to provide in
Another Iowa bank president ( $50 cal comments of those who have a sight to investment during the com
million bank) said his 12 .2 % of de written policy.
ing quarter.”
posits in high CD rates would mean
Nebraska banks: “This policy is
“ It is a good tool to have in man
“Any decrease in money cost will be in very broad form. We do not want aging an investment portfolio and^
passed on to the borrower,” while yet to lock ourselves into a position keeps one on track.”

N orthw
estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

“Very good. Our return is above
®the peer group average ($50 million
assets) and we have experienced no
losses in the investment portfolio.”

South Dakota banks: “For the
short term I would like to remain
very solid (voted safety
liquidity
#2). The earnings will follow.”
Iowa banks: “Security for in
vestors would be foremost, with li
^
Question 6
Q. What will be the principal goal quidity needed because of primary
of your investment plan for the lending to farm groups. Earnings
foreseeable future—Liquidity, Safety would be last, due to the fact our
bank is not held by a majority in
or Earnings?
q As noted in Chart No. 5, Safety vestor and consideration for earn
earned 54% of the first place votes, ings is tied to this.”
“We will continue our present un
Liquidity came in second with 31%
of the first place votes, and the re written policy of investing only in
maining 15% of first place votes governments, government agencies
and high-grade municipals.”
Chart No. 5
“We plan to pursue good quality
“ What will be the principal goal of your invest
loan
growth as first priority. May
ment plan for the foreseeable future—Liquidy (A);
need to go for earnings on portion of
Safety (B), Earnings (C)?”
portfolio, but emphasis will be on li
quidity (voted #2 ) and safety (voted
#1).”
Question 7
Q. Do you plan on increasing or
decreasing your Government Bond
portfolio in 1984?
Chart No. 6 shows that 75% of
respondents said they plan to in
crease their holding of Govern
ments, 11 % plan to decrease, 11 %
will remain the same, the remaining
three percent did not complete this
went to Earnings. A few of the com portion of the questionnaire.
ments to this question follow.
Chart No. 6
Nebraska banks: “Safety comes
“ Do you plan on increasing or decreasing your
ffcvith liquidity and in our bank the Government
Bond portfolio in 1984?”
loan portfolio has been the prime
source of earnings. However, 1984
will put definite stress on earnings
from our investment portfolio.”
• “We use our investments to sup
ply loanable funds when needed.”
“We will be in Governments this
year; out of Municipals as we filled
our quota in 1983.”
® “ Shorten overall m aturities,
which has been our goal for the past
5 years. Also maintain safety.”
Minnesota banks: “With our
Ans.
heavy loan demand, we do not want
Of those who plan to increase
^ is k in our portfolio.”
“We feel our bonds are liquid their Government Bond holdings,
(Governments & Agencies). S afety - 74% will buy in the 1-3 year range,
no problem with just Governments 19% in the 3-5 year range, and only
6 Agencies. We want to maximize 7% in the less than 1-year range.
® ur earnings and do not buy risky in
Question 8
vestments.” (Selected earnings #1,
safety #2 , liquidity #3.)
Q. Do you plan on increasing or
Wisconsin banks: “Safety within decreasing your Municipal Bond
j*eason is assumed. Earnings much portfolio in 1984?
rniore important than liquidity be
Chart No. 7 shows these results:
cause of steady deposits, etc.”
Increase—30%, decrease—51 %;
“We are here to make money as same—15%, and no answer—4%.
safely as we can and provide for our
Among those who said they
depositor demands.” (Selected earn would increase their Municipal hold
ings # 1, safety #2 , liquidity #3 .)
ings, they selected these maturity

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Federal Reserve Bank of St. Louis

Chart No. 7
“ Do you plan on increasing or decreasing your
Municipal Bond portfolio in 1984?”

Ans

ranges: 1-3 years—21%; 3-5 years—
52%; 5-7 years— 21%; over 7
years—18%. These percentages ex
ceed 100 % because some respon
dents gave more than one first
choice.
Again, among those who said
they would increase their Municipal
holdings, they indicated they would
select the following ratings (re
sponses also do not total 100 %
because many chose more than one
rating): AAA—36%; AA—74%; A—
42%; BAA—none; non-rated—15%.
A further question to those who
plan to buy Municipals revealed
that they would place 57% of their
purchases in General Obligations,
27% in Revenue Bonds and 16% in
IRBs. In each instance, the prefered
maturity was in the 3-5 year range
(40% to 45% in each of the kinds
described).
Question 9
Q. Do you plan on investing in
$100,000 CDs in other banks this
year?
Chart No. 8 shows an overwhelm
ing number (71%) replied “No,”
while 28% said “Yes,” and 1 % said
“Possible.”
Chart No. 8
“ Do you plan on investing in $100,000 CDs in other
banks this year?”

INVESTMENT SURVEY. . .
(Turn to page 47, please)
N orthw estern Banker . March, 1984

Flexibility!
. . .key to successful loan restructuring

By ALLEN J. OLSON
Regional Vice President
BarclaysAmerican/Business
Credit, Inc.
Minneapolis, Minn.
HEN GRANTING a loan, a bank is demonstrat
W
ing its faith in the future of a business client. His
torical earnings records can be scrutinized, balance
sheets analyzed, debt-to-equity ratios determined, and
a total assessment made of the client’s financial condi
tion at the time of the loan. Forecasting long term
earning power, however, is a prediction based on the
premise that future performance will not deviate great
ly from the past.
Many events are impossible to predict—a borrower
may be negatively impacted by financial difficulties on
the part of its customers, raw material costs may soar
unexpectedly, a well-conceived turnaround plan may
need more time to take effect, and cash flow needs may
be greater than anticipated. As originally structured, a
loan may no longer meet the needs of a borrower.
Conversely, the original loan may no longer meet the
bank’s needs. The bank’s portfolio mix may have
changed, the borrower’s legitimate needs may have
surpassed the bank’s lending limit, or the borrower’s
financial condition may have changed to the point
where the bank is no longer comfortable with the lend
ing arrangement. The bank lending officer may have
recognized a need for closer monitoring of the credit, or
for changes in the loan structure beyond what the bank
is able or willing to provide.
Asset-Based Lender As Partner
Asset-based lenders are often key to the successful
restructuring of such a loan. With their traditional em
phasis on risk management, and the built-in flexibility
of their secured financing arrangements, asset-based
lenders work in partnership with banks to restructure
loans through participations, refinancing, adding
levels of debt, or making other suitable arrangements.
The advantages to the bank are well documented.
By bringing in an asset-based lender when a loan has
become unsuitable, a bank can share or eliminate risk,
gain an extensive and experienced loan monitoring ser
vice, yet retain a banking relationship with the bor
rower. By utilizing the value in its existing assets, a
company’s borrowing power is often increased. Be
cause a secured financing package is flexible and tai
lored to meet the needs of the individual borrower, it is
often less restrictive to a business experiencing fast
Digitized Nfor
FRASER
orthw
estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

growth or struggling to overcome an unstable financia®
condition.
Example of Restructuring Loan
A financing arrangement by the Minneapolis Region
office of BarclaysAmerican/Business Credit to a re
gional trucking firm illustrates a successful loa™
restructuring.
Established in the late 1950s as a flatbed carrier
operating within state lines, the company had in
creased volume and expanded its operations through
out the central U.S. by the early 1970s. Following
deregulation of the trucking industry, it increased
revenue by expanding to over 20 terminals in 17
states.
Although sales growth was good and the trucking^
operation basically sound at the time we stepped in, fi^
nancial controls and record-keeping were poor, and pro
fits from the trucking company were being diverted by
the principals to finance unrelated ventures.
BarclaysAmerican/Business Credit became involve^
at the request of a small local branch bank which haa
extended—through an overline with its parent b a n k more than $1 million to the trucking company for
working capital. The company had shown losses for
the previous three years, taxes for the previous quarte^
were delinquent, the loan had reached the bank’s limit
and bank officers realized the loan required more
supervision and monitoring than the bank’s resources
would permit.
After extensive analysis of the company’s financia®
condition and its collateral, BarclaysAmerican/Busi
ness Credit determined that losses had been primarily
due to the diversion of funds from trucking operations
into personal interests of the owners, and that the com
pany could be profitable without the cash drain and at®
tendant losses incurred by those interests. Our firm
recognized that the company’s position was not alto
gether strong—its management was in need of compe
tent credit and collections personnel, and the firm op
erated in a competitive and rapidly-changing industry®
Nevertheless, the company’s strengths outweighed its
weaknesses. Those strengths included strong sales
growth, a reputation for dependability, and excellent
fleet recognition by shippers.
BarclaysAmerican/Business Credit was able to r ^
structure the carrier’s loan by increasing the credit line
■ ABOUT THE AUTHOR— A native of Wisconsin, Mr. Olson had
been associated with James Talcott Inc. for 11 years prior to join
ing BA/BCI. He attended the University of Minnesota in M ir^
neapolis where he majored in business administration.

to $1.9 million, using an 80% advance against eligible
receivables. Those funds were used to repay the bank’s
working capital loan and to bring delinquent taxes and
other payables current.
In addition, we orchestrated other portions of the
financing package. Concurrent with the accounts re
ceivable loan closing, the same local bank—reassured
by the loan monitoring capabilities of the asset-based
lender—agreed to loan up to $500,000 secured by fixed
assets. A second major asset-based lender was brought
in, and agreed to lend $2.1 million to refinance a dozen
smaller loans outstanding to other finance companies.
Those loans were secured by trucks and trailers.
In this instance, BarclaysAmerican/Business Credit
also functioned as a financial advisor. As a result of
careful analysis during the loan approval process,
several recommendations were made to assist the com
pany in restoring profitability. They included the sale

3 asset-based
opportunities
for 1984
By JOHN E. McCAULEY
President
FBS Business Finance Corporation
Minneapolis, Minn.
E EXPECT 1984 to be very active in three prin
cipal types of asset-based lending situations:
1. The leveraged buyout
With the economy generally moving upward, we see
more major companies divesting themselves of divi
sions or subsidiaries that no longer fit their strategic
plans. Also, more older owners are seizing the upturn
opportunity to sell out and retire. This results in other
companies in related industries seeking acquisition op
portunities and for hired management or others buying
out the retiring owner. These buyers are often able to
leverage existing assets plus the acquired assets to
structure a leveraged buyout. About 18 months ago,
FBS Business Finance and a bank in this region
assisted a small successful company in the materials
handling business with the purchase of the assets of a
larger company in a related field. The larger company
was being sold by its conglomerate parent company.
We leveraged the assets of the client’s company and
the acquired company assets in what has proven to be

■ THE AUTHOR SAYS—FBS Business Finance Corporation is
the asset-based lending and equipment leasing subsidiary of
First Bank System, Inc. In addition to our headquarters in Minneapolis-St. Paul we have marketing offices in Milwaukee and Bil
lings. We actively work with banks in the North Central and
Midwest Regions in securing asset-based lending and leasing re
ferrals from banks. In the asset-based revolving credits and fixed
asset loans, the referring bank generally participates in the credit
facility and provides the related banking services. We usually stay
in the credit as long as the bank wants us in to monitor the ac
counts receivable, inventory and, possibly, fixed asset borrowing
base and to share the risk. Once we get out of the Twin City area
we usually need a $500M to $1,000M minimum share of the assetbased credit extended, or an equipment lease of $100M or more.

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Federal Reserve Bank of St. Louis

of cash draining operations and establishment of a
reporting system to assure that taxes were kept cur
rent, reduction of the principals’ salaries, hiring a com
petent credit collection manager, and analysis and
tightening of the company’s disbursement policies.
Since the loan was funded the company has turned
an annual loss of $250,000 into a $200,000 profit, with
less than a 10 % increase in sales.
In this instance, BarclaysAmerican/Business Credit
was able to restructure a loan on the verge of default
while increasing the borrower’s credit line and decreas
ing the number of lenders involved. More importantly,
a company was able to establish sound financial plan
ning and controls, and restore profitability.
Asset-based lenders often serve this role. With their
experience in structuring flexible lending programs,
and their expertise in loan monitoring, they are an im
portant resource for both bankers and their borrowers.
a successful leveraged buyout. The same client is now
working with us on structuring yet another buyout.
2. Business expansion
Many companies are seizing the opportunity to
move into new markets, open branches or distribution
facilities. This translates into higher levels of
receivables, inventories and expanded plant and equip
ment needs. Often, the privately owned or smaller pub
lic companies find that the expanded leverage calls for
a secured credit facility with an asset-based lender and
their banker, provided through both lenders partici
pating in a larger asset-based working credit to get the
job done effectively.
3. Turnarounds
A large number of companies had losses or marginal
operating results during the recent recession and now
see the light at the end of the tunnel. Rather than
struggle with their existing or reduced credit line, an
expanded asset-based line can provide the funds to get
back to business as usual, take trade discounts and get
things rolling. Again, the asset-based lender and the
client’s bank can often structure these to the satisfac
tion of all parties.
The opportunities for bankers and asset-based
lenders to work together in leveraged buyouts, expan
sion financing and turnaround situations is tremen
dous. The knowledgeable banker can identify these
prospects and provide a real service to himself and his
customers and provide a safer, more adequate financ
ing arrangement for everyone. The key is timing on the
part of the banker to move before he and the customer
get in trouble.
Most asset-based lenders today are bank holding
company subsidiaries and are oriented to serving not
only their affiliated banks, but also other banks in
their markets. They are price competitive and general
ly have officers with extensive banking, as well as com
mercial and corporate finance, experience to call on.
Asset-based lenders based in the Midwest tend to be
more knowledgeable about industries and business
practices in the region and generally can offer better
turnaround times than companies based in the East
and West Coast money centers. We have found that
once we do our first transaction with a bank, more
business is done with that bank as they see what it can
do for them and their customers to properly structure
and manage asset-based credit lines.
□
N orthw estern Banker, March, 1984

Participations ...
...offer a fast and safe
method to improve profitability

By DAVID F. HERRICK
—
Senior Vice President
^ jj^ g Æ r Æ Leveraged Buyout Financing Group
Æ ^Ê Associates Commercial Corporation
JÊÊÊÊ Chicago, 111.

HE economic picture continues to brighten as one
T
business indicator after another shows vast im
provements: Factory orders and factory usage are
climbing; consumer spending levels led by strong auto
and truck sales as well as healthy retail sales, are very
encouraging; housing starts and business construction
have risen considerable; inflation seems to be in check;
interest rates remain fairly stable, although high by
historic standards; unemployment has fallen by almost
three percentage points; and personal, disposable in
come continues to rise. All of these factors and more
seem to say the economic recovery that began in the
first quarter of 1983 is for real and that it will continue
to improve in the months ahead.
1984 a Lenders’ Market
What does that mean for bankers and other financial
service companies? For one thing, 1984 will become
much more of a lenders’ market as demand for capital
increases. Low business inventories must be rebuilt,
and businesses must gear up to handle ever increasing
orders. That means more people will have to be hired,
supplies will have to be replenished and a multitude of
goods and services will have to be purchased.

N orthw
estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

Manufacturers and retailers played it “close to th e ^
vest” during 1983 which greatly reduced demand forw
business capital. But that same game plan that helped
businesses avoid borrowing in the past year or two will
have to be altered significantly this year to allow them
to remain competitive. The rapidly increasing need fo r^
fresh working capital in 1984 will result in more andw
more businesses chasing lenders. That in turn will
result in some real and immediate opportunities for
bankers to improve their profitability and increase
their spreads to recoup some of the decline they m ay ^
have experienced during the past two or three years.
Merger and Acquisition
The biggest lending market in 1984 promises to be
in the merger and acquisition area. The economic re
covery and rising corporate profits have rekindled an®
already strong acquisition and merger market, push
ing such deals to a nine-year high in 1983, with the
third and fourth quarters showing 18 and 26 percent
increases in such activities, respectively, according to
W.T. Grimm & Co., the Chicago-based merger consult-®
ing firm.
The deconglomeration trend that started in the early
1970’s accelerated in the later part of that decade as
the recession devastated the business community froirm
1980-82 and helped to mold a new philosophy . . . th a t^
big was not necessarily better and that profitability
and return was a far more preferable goal to chase.
Under this philosophy, if an operation didn’t fit, it
should be spun off.
^
The commercial lending industry, which has seen sl
big influx of new competitors in the past year or two ...
particularly from large domestic and foreign banks
eager to expand their portfolios . . . is beginning to
realize that it is difficult to set up an asset-based lend-^
ing department, police the loans properly and still
make an acceptable operating profit at the spreads cur
rently prevailing in the industry.
Participations Improve Profitability
Regional bankers can improve profitability and im-®
mediately increase their spreads by participating with
asset-based lenders. In so doing, the asset-based lender
normally performs all the loan administration work
and carries all the related overhead, with the banksimply providing a portion of the needed capital. Suclm
arrangements should continue to be highly profitable
for bankers since there is little expense involved for
them.
Participating with asset-based lenders with a proven-,
track record can also be a real comfort factor for
bankers. Generally, bankers can be reasonably certain
of the fact they will get their principal back when par
ticipating with experienced asset-based lenders. The
failure rate for such lending activities is very low, and^
even when problems do occur, the experienced assetbased lender is in a position to develop and administer
an effective work-out program.
Asset-based lending is by its nature dynamic and ex
citing, but it is also complicated and very competitive.^
Opportunities to participate are growing, particularly
in the acquisition financing area. Banks of all sizes can
be active in acquisition financing without adding ex
pensive and hard-to-find asset-based lending expertise.
All they have to do is open their doors to the experienced^
asset-based lender.
□

•

Financing the troubled borrower

CENARIO: One of your borrowers requests a
$ 100,000 overadvance. You weigh the risks and
rewards. If the overadvance is repaid, you stand to
earn $1,500.00 (based on a net profit after taxes of
1.5%). But if the borrower defaults, you must employ
_ the sum of $6.7 million for one year to recoup the losses.
9 This is a staggering amount compared with the antici
pated $1,500.00 net profit.
®

By MICHAEL J. LITWIN
Senior Vice President
Walter E. Heller & Company
Chicago, 111.

Determine Collateral’s Value
2. Second, determine the value of the collateral se
curing your loans. Conduct updated examinations of
receivables, inventory and obtain new appraisals of
equipment and/or real estate to better understand your
true position regarding collateral worth.
Review Administrative Requirements
3. Third, from a secured lending perspective, review
all administrative requirements in terms of operational
procedures to which the borrower must adhere. Verify
that current documentation and paperwork require
ments are sufficient and being followed. For example,
you may currently be requiring the borrower to for
ward copies of all invoices over $10,000.00. But since a
company losing money and starving for working capi
tal offers the heightened possibility of fraud, you
should reduce the minimum size of invoices which
must now be forwarded to you.

Review Collections Procedures
I t’s a difficult decision. Especially difficult when one
4. Fourth, review collections. Determine that you are
considers the occurrences which could turn a thriving
receiving all collections, including all proceeds received
business into a troubled one. They include losses;
from cash sales. Determine that your inventory loan is
death or loss of important principals; fires, floods,
being rotated properly (that is, as inventory is sold,
catastrophies; need for significant future capital imyou should be employing proceeds to reduce payment
0 provements; general non-performance of collateral, in
of the inventory loan rather than settle that loan on a
cluding slower turning receivables and bad debts; ob
weekly or monthly basis). Consider whether a lockbox
solete inventory; equipment loss or inefficiency; and
system should be established. If any new bank ac
other factors.
counts have been opened, it is almost a sure sign that
A Workable Alternative
some collections are being diverted. Also, consider
•
Yet, there is an alternative to either gambling large
whether an inventory warehouse receipts program
sums or denying the loan and possibly encouraging a
should be established to assure inventory control.
default. That alternative is to work closely with the
At this point, hopefully, you have determined that
borrower, tighten administrative controls, encourage
you are a secured lender, determined the collateral
him to maximize the performance of his assets, and
value, know where you stand on the loan, and tighten
• help him use additional funds wisely. That option will
ed or considered tightening all administrative require
ease your client toward a turnaround situation or at
ments to minimize the possibility of fraud or mistake.
least build equity into the loan to protect you in case of
Next, you’ll want to meet with the borrower to learn
liquidation.
his short- and long-term plans to effectuate a turn
We at Walter E. Heller & Company strive to handle
around of the business. If those plans are not realistic,
® loans more effectively. We are then able to consider fi
it is clearly time to improve your position on the loan.
nancing more complex situations and in all cases are
Other Techniques
better able to minimize risks. To accomplish this, we
Heller also recommends some techniques to improve
have developed a checklist for working with troubled
a banker’s loan position. The object is to collect more
borrowers.
than you lend, thus reducing the loan and building eq
®
Review Loan Documentation
uity over time. The best way to accomplish this is to
1.
The first step is to review all loan documentation.recognize a problem as early as possible and treat it on
As a secured lender, you must have all the proper docu
a rational, consistent basis rather than to over-react
ments and verify they are properly executed. If you are
and take harmful short-term actions. One may reduce
0 an unsecured lender, you may wish to consider the pos
the advance rate on collateral, reduce credit limits, and
sibility of securing yourself. Insurance coverages on
tighten collateral eligibility requirements and others.
collateral should be adequate and in force. Personal
By employing this checklist, however, one addresses
and corporate guarantees should be in place. If the
both sides of the problem. Either a customer situation
company has originated new names, divisions or locawill be properly managed and successful, thereby per
^ tio n s make sure that appropriate new documentation
mitting the lender to increase his rates of advance onexists.
the collateral or, at worst, the lender will be building
If you are a secured creditor, confirm that your UCC
equity into his loan to give him negotiating leverage in
financing statements are properly filed. You could con
a Chapter 11 , or equity that can be used for payment of
duct Uniform Commercial Code, Federal and State tax
administrative expenses and payments to unsecured
^lien , suit and judgment searches to confirm the priori
creditors in the event of an ultimate client liquidation.
ty of your liens.
□

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Federal Reserve Bank of St. Louis

N orthw estern Banker, March, 1984

field representatives in Iowa.
Ms. Foster attended Iowa State
University in Ames and formerly
worked for the I. Eugene Company
in sales and service.
Mr. Havemann was graduated
from Drake University in Des
Diebold, Inc., Canton, Ohio: Earl Moines with a degree in business ad
F. Wearstler, 59, widely-known and ministration. He worked formerly
popular president and CEO of Die for Bankers Trust Company, Des
bold, died last month of continuing Moines, the Brenton Bank & Trust
circulatory complications following in Urbandale, a suburban Des
open-heart surgery last year. He Moines community.
joined the company in 1947 and had
been in sales executive positions a
J & B Communications, Chicago:
number of years with the company Bill Beckmann, who has spent the
prior to being elected president in past 30 years in the public relations,
1981 and CEO in 1982.
advertising and marketing fields at
Robert W. Mahoney, 47, was Outboard Marine Corporation in
elected to succeed Mr. Wearstler as Waukegan and Milwaukee, and at
president and will continue as chief National Boulevard Bank in Chica
operating officer. Mr. Mahoney join go, has formed his own leisure-time
ed Diebold in 1982 from NCR Corp., and financial public relations con
where he was president of NCR Can sulting firm. He has offices in Chica
ada Ltd.
go (312-836-6535) and in LibertyRaymond Koontz, 71, long-time ville, 111. (312-362-1006).
president of Diebold, continues as
Mr. Beckman, a graduate of the
chairman and will resume the duties University of Wisconsin, is past
of CEO.
president of the public relations divi
sion of the Illinois Bankers Associa
IAC Group, Kansas City, Mo.: tion, The Chicago Financial Adver
Kathryn Foster and Mark S. Have- tisers, and Wisconsin Associated
mann have joined the company as Press Managing Editors. Before en-

Corporate
ROMOTIONS and other an
P
nouncements have been made
by the following firms:
Daktronics, Inc., Brookings, S.D.:
James Vasgaard has been appointed
Sports Timing
Sales Specialist,
according to Dr.
Aelred Kurtenbach, president.
Mr. Vasgaard,
a
D ecem ber
1983 graduate of
South D akota I f
'
State University | |
m
with a degree in ™
advertising ecoJ- VASGAARD
nomics, started working for Dak
tronics as a student intern two years
ago in the sports timing division. He
has extensive experience in the
aquatics field and will continue to in
troduce Daktronics electronic tim
ing aquatic systems to potential
users in that field.

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Federal Reserve Bank of St. Louis

25
^tering the public relations/market- dent departments. He holds an
ing field, he was managing editor of MBA from the University of Minne
The Wisconsin Rapids Daily Tri sota.
bune.
Strategic Management Resources,
Norwest Leasing, Inc., Minnea Omaha: This new firm specializing
polis: John D. MacLeod was named in m a rk e tin g
senior vice president and John and p la n n in g
support for busi
nesses and orga
n izatio n s has
d
been founded by
Michael A. No
vak. The firm
will provide a
variety of man
agement services
including marMA- NOVAK
i
» \
keting
planning,
strategic
planning,
J.D. MAC LEOD
J. CHRUN
feasibility planning and organiza
|Chrun was elected vice president, tional counsel.
It is located at 5176 Leavenworth
both in the marketing department.
and
is affiliated with Bill Ramsey
Mr. MacLeod formerly was vice
president marketing. He joined Nor Associates, Inc., a well-known ad
west Leasing in 1976 and became vertising and public relations firm.
Mr. Novak was graduated from
►vice president in 1982. He is a grad
Creighton
University in Omaha and
uate of the University of River Falls
was with Norwest Bank Omaha,
in Wisconsin.
Mr. Chrun has been with Norwest N.A., for 16 years in various
Leasing since 1981. Before that he marketing positions, most recently
►was with Norwest Bank Minnea as director of planning.
polis, N.A., where he held several
Travelers Express, Minneapolis:
positions in the trust and correspon Robert M. Ferris, Jr., has been ap-

p o in te d e lec
tronic services
director. He will
be responsible for
the management
of operations and
marketing of the
company’s elec
tronic entries ser
vices— QUAN
TUM. Mr. Ferris
R.M. FERRIS
has joined Trav
elers Express after 10 years of elec
tronic banking experience with First
Bank System, most recently as
assistant vice president and director
of electronic banking. While at FBS,
he was instrumental in development
of the FASTBANK EFT network in
a 5-state area.
Arthur Young, New York: Lee E.
Gunderson, former president of the
American Bankers Association and
president of the Bank of Osceola,
Wis., from 1964 to 1983, has joined
Arthur Young as director of banking
industry relations. He will serve as a
liaison with legislators, federal regu
lators and commercial banking in
dustry trade groups on behalf of the
firm. He was ABA president in
1980-81.

Continuity of people. Continuity of policy.
Continuity of commitment. That’s what corre
spondent banking means at Drovers. With some
banks, it’s a sideline. With others, only the large
metropolitan relationships are sought and
serviced. Not so at Drovers. We seek strong, long
term relationships with banks in towns like
Sandwich. Or Watseka. Or Varna. (You know who
we mean.) So call John Crotty. Or Kathy Hardy.
Or Max Roy. Or Andy Ruments. Or Frank Bauder.
Or Jim Carmody. Professionals sensitive to over
line situations. Professionals sensitive to the
agricultural sector. Professionals sensitive to you.
n j * Toll-free 1-800-621-8991.
In Illinois, 1-800-527-2498.

Drovers Bank«*»

47th & Ashland Ave., Chicago, IL 60609 • 1-312-927-7000.
MEMBER FEDERAL RESERVE SYSTEM AND FDIC.

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Federal Reserve Bank of St. Louis

26
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with everything from cash letter
processing to estate and trust services.

Jan Kepple

N orthw
estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

Art Hippie

Call us toll free (800) 322-2212. Give us
the opportunity to show you how our
Humanware can make a big difference in
your bank operation.
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Interest bank

Commercial National Bank
of Peoria Member Midwest Financial Group, Inc
COMMERCIAL BANKING DIVISION
301 S.W. Adams
Peoria, Illinois 61631
Phone: (309) 655-5000
MEMBER F.D.I.C.

Dorothy Newlin

of Wilmette, according to Thomas
The Bank of Northfield has pro H. Werner, chairman.
Ms. Myers joins the bank from
moted Richard M, Stoddard to se
First
National Bank of Winnetka,
nior vice presi
where she served as vice president,
dent, auditing
commercial lending. She previously
and finance; Darwas
affiliated with Continental
nelle C. Marlin,
Bank
of
Chicago as commercial loan
a s s is ta n t vice
officer.
^president and
a u d ito r, and
IBA Endorses Candidate
Marilinda DoleFor ABA President-Elect
zal, operations
William W. Rodgers, chairman
officer.
* Prior to Mr.
and chief executive officer of Secur
ity Bank and Trust Company,
Stoddard joining
Blackwell, Okla., has been endorsed
by the executive committee of the Il
linois Bankers Association as can
didate for the position of president
elect of the American Bankers
Association.

Northfield Promotes Three

27
rate commercial banking area and
larger lounge and working areas for
customers and staff. The project is
expected to be completed in four
months.
“Through our reconstruction ef
fort, we will gain approximately
2,000 square feet, which will provide
space for more efficient servicing of
customers and create a more attrac
tive interior appeal,” said Richard
E. Hamlin, chairman of the Bank of
Yorktown.

Appointed in Skokie
Thomas C. Weise and Robert H.
Schnooberger have been appointed
senior vice presi
dents for Skokie
Trust & Savings
Bank, Skokie. In
addition William
J. Cahill has
been named vice
president, com
mercial banking.
Since joining
the bank in 1969,
T.C. WEISE
Mr. Weise has

Harris Bankcorp
Purchases Four Banks
Harris Bankcorp, Inc., Chicago,
parent company of Harris Trust and
Savings Bank, has completed its
^th e bank in 1979 as auditor, he purchase of The First National Bank
worked for Arthur Anderson and of Hinsdale, Glencoe National Bank,
First Chicago.
The First National Bank of Win
Ms. Marlin previously was with netka and First National Bank of
the Bank of Wheaton for three Wilmette.
^years. She has been with the NorthThe agreement calls for an ag
field bank since 1979 as staff audi gregate cash purchase price of $38.6
tor.
million.
Ms. Dolezal joined the bank in
While no changes in staff are con
1980 and previously supervised the templated, a representative of Har
^bookkeeping department and new
ris Bankcorp soon will be named to
accounts.
each bank’s board of directors.
D.C. MARLIN

M. DOLEZAL

Advanced in Decatur
^

Anne Gann has been promoted to
vice president of Soy Capital Bank
and Trust Company, Decatur.
She joined the bank in 1967 and
was named supervisor of customer
Uservice in 1971. In 1977 she was pro
moted to personnel administrator.

Wilmette President Named
^

Mary M. Myers has been named
president of the First National Bank

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Federal Reserve Bank of St. Louis

Bank of Yorktown
Begins Interior Renovation
The Bank of Yorktown has
started a substantial interior re
modeling project designed to pro
vide approximately 20 % more usable
space and improve customer conven
ience.
A large circular staircase on the
main floor is being removed to create
additional vault space, more conve
nient customer service areas, a sepa

R.H. SCHNOOBERGER

W.J. CAHILL

held numerous positions in opera
tions and was instrumental in the
planning of Skokie Trust’s facility.
He presently serves in operations.
Mr. Schnooberger, who will con
tinue as controller, will assume re
sponsibility for the financial plan
ning and development for the bank.
Mr. Cahill will be responsible for
the development of commercial busi
ness in Skokie. He previously was
vice president at the Bank of
Yorktown, Lombard.

Promoted in Batavia
First National Bank of Batavia
recently announced the promotion
of Elizabeth O. Barbour to assistant
auditor.
She has been with the bank since
1977 as a teller and in the account
ing area.
N orthw estern Banker, March, 1984

Illinois News

program in 1946. He moved up the
Brenda J. Heuck has been pro ranks until 1980 when he was pro
moted to assistant cashier of The moted to his most recent position of
senior vice president to head the
Heights Bank, Peoria Heights.
newly
formed consumer banking di
Mrs. Heuck joined the bank in
vision.
He was elected a director in
1980 and was promoted to head tel
1981.
ler in 1983.

Peoria Heights Names One

Two Named in Morton Grove

Two Named In Auburn

Following the annual meeting of
At First National Bank of Morton
State
Bank of Auburn, Maureen Sul
Grove, Karen Larson and Edelgard
livan
was
named data processing of
Unverricht have been elected assis
ficer
and
Betty Jo Karhliker was
tant vice presidents.
named assistant cashier.
Mrs. Sullivan joined the bank in

1976 in the bookkeeping and proof
department. Mrs. Karhliker has®
been with the bank 15 years.
In addition, Eric Artman, a Springfield attorney, has been elected to
the board.

First lllini Bancorp
Holding Company Formed
The stockholders of First Gales
burg National Bank & Trust Com-^
pany have approved the formation
of First lllini Bancorp, Inc., a bank
holding company. Malcolm E. Lamb
ing, Jr., president of the bank, ex-

Largest Banks in Illinois
EPOSITS and loan fig u re s fo r Illin o is banks reporting d e p o sits of $200
m illio n or m ore at year-end are show n in the ch a rt below . C om
parative fig u re s from a year ago are fe a tu re d .
®

(Last three figures omitted)
K. LARSON

E. UNVERRICHT

Ms. Larson, who is in the commer
cial lending area, joined the bank in
1982 as assistant cashier.
Ms. Unverricht joined in 1967,
most recently serving as assistant
cashier. She will be assistant vice
president in customer service.

Rockford Promotion Told
Ellen A. Logan has been pro
moted to consumer loan officer of Ci
ty National Bank & Trust Co. of
Rockford.
She joined the bank in 1974 and
has held various positions in con
sumer lending.

Skokie Executive Elected
In its first meeting since acquisi
tion by the Cole-Taylor Financial
Group, Inc., the board of directors of
Skokie Trust & Savings Bank elected
Scott W. Taylor to the position of
executive vice president.
Mr. Taylor, formerly vice presi
dent of Commercial Banking at
Drovers Bank of Chicago, will be
responsible for all commercial bank
ing and operations at Skokie Trust.

Elmhurst Banker Retires
After 37 Year Career
Harry F. Milkert, director and
senior vice president in consumer
banking division of Elmhurst Na
tional Bank, recently retired.
Mr. Milkert, retiring after 37
years at the Elmhurst bank, began
his career in the GI teller training
DigitizedNfor
FRASER
orthw
estern Banker, M arch , 1984
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Federal Reserve Bank of St. Louis

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December 31, 1983
December 31, 1982
Deposits
Loans Deposits
Loans
Continental Bank, Chicago................... $30,082,230$29,536,281 $28,635,668$31,590,17(W
First Natl., C hicago.............................. 27,680,040 22,250,293 27,418,645 22,191,826W
4,735,607 3,682,938 4,727,252 3,895,712
Harris Bank, Chicago ..........................
Northern Trust, Chicago......................
4,372,005 3,125,660 4,369,083 3,412,468
American Natl. B&T, Chicago............... 2,371,680 1,414,210 2,281,719 1,325,274
634,002
927,034
704,245
843,718
Exchange Natl., Chicago1.....................
684,34^||
861,691
LaSalle Natl. Bk., Chicago ...................
912,629
639,313
523,844
161,779W
571,619
203,248
Bank for S&Ls, C hica go ......................
442,402
337,922
529,088
378,843
Springfield Marine B ank......................
488,692
241,954
271,267
Northwest Natl., Chicago.....................
511,239
181,014
489,974
173,784
468,525
Lake View Tr.&Sav., C hicago...............
371,906
137,631
422,981
143,353
First Natl. Evergreen Park.....................
273,1 14a
318,189
381,236
Lake Shore Natl., Chicago ...................
416,070
267,162W
346,941
411,076
258,119
UnibancTrust, Chicago2 ......................
356,552
241,074
387,241
260,566
Citizens B&T, Park Ridge .....................
332,679
197,912
384,107
233,050
First Illinois Bk.of Evanston, N.A.3.......
250,932
378,022
316,892
351,048
Natl. Boulevard Bk., C hicago...............
159,192
281,711
141,433
State Natl. Bk., Evanston .....................
331,419
276,582
171,051a
181,958
Mount Prospect State Bk.......................
317,413
288,434
294,000
281,000W
305,246
Chicago-Tokyo Bk., Chicago ...............
208,472
302,282
226,919
287,969
Commercial Natl. Bk., Peoria...............
267,663
142,649
297,546
159,765
American Natl. B&T, Rockford.............
149,497
145,323
294,816
285,569
Oak Park T&S, Oak P a rk ......................
223,347
284,726
191,148
Bank of Ravenswood, Chicago ...........
288,531
151,211a
129,768
257,713
286,859
First Natl., Des Plaines........................
298,617
322,140*
286,300
310,506
Glenview State B ank............................
Gary Wheaton Bank, Wheaton.............
133,329
205,463
117,633
284,336
262,271
160,931
160,523
280,338
First Natl., Skokie ................................
235,848
140,795
279,357
164,172
First Natl. Bank, Highland P a rk...........
244,390
122,285
273,590
118,776
Elmhurst Natl. Bk...................................
170,777a
161,928
268,201
First Natl. Bk., Springfield ...................
273,576
133,569,P
163,442
234,839
257,802
First Natl. B&T, R ockford.....................
229,640
148,597
256,552
183,129
First Natl. Bk., Belleville......................
216,524
109,781
130,287
248,640
First Natl. Bk., Lake Forest...................
79,432
217,126
83,656
241,245
Marquette Natl. Bk., Chicago...............
154,062
231,888
135,357
238,071
Illinois Natl. Bk., Springfield.................
250,824
160,11 1a
234,397
151,129
Pioneer B&T, C hicago..........................
76,784W
211,292
84,239
232,620
Illinois Natl. B&T, Rockford .................
98,637
105,076
207,165
226,185
First Natl. Bk. Quad Cities, Rock Island
91,063
201,745
226,009
104,161
Colonial B&T, C hica go ........................
86,670
112,497
199,476
Commercial Natl. Bk., Chicago ...........
221,490
189,564
96,303
107,887
213,280
South Holland T&S Bank......................
56,832a
82,140
200,606
209,819
Mid-City Natl. Bk., Chicago...................
120,860^
86,567
219,886
209,000
First Natl. Bk., Cicero ..........................
90,207
111,017
180,579
205,481
First Natl. Bk. of Joliet..........................
199,468
124,726
144,286
Millikin Natl. Bk. of D ecatur.................
201,203
1merged with Central Natl., Chicago
fo rm e rly Sears B&T, Chicago
fo rm e rly First Natl. B&T, Evanston

Illinois News

plained that under the new organiza
tion, First National will operate as a
wholly-owned subsidiary of First IIlini. The merger will become effec
tive upon final approval from the
regulatory authorities, expected
around the end of April. At that
time, shares of First Galesburg Na
tional Bank stock will be exchanged
on the basis of one-for-one for shares
of First Illini Bancorp, Inc.
The new corporate structure will
have no effect on the existing owner
ship, board of directors, officers, or
staff of First Galesburg National
Bank.

staff of the Federal Reserve Bank of
Boston. Three years later he trans
ferred to Chicago Reserve Bank as
an assistant systems consultant to
work on the Federal Reserve Com
munication System for the 1980s.
In 1983 he was named a manager
in the system communication center.
* * *
Stan J. Bochnowski has been
elected assistant vice president in
the loan depart
ment of Lake
side Bank.
Mr. Bochnow
ski served as
m a n ag e r
of
loans at Peoples
Federal Savings
and Loan of
E a s t Chicago
prior to joining
Lakeside Bank.
In his new position he will be respon
sible for initiating and building a
new m ortgage departm ent at
Lakeside Bank.
* * *
At Bank of Chicago, Cheryl A.
Harano, Evelyn Herron and Joy M.
Nishikimoto have been elected assis

B.T. Reidy has joined UnibancTrust company as president and a
director. Mr. Reidy will have execu
tive management responsibility for
the commercial, correspondent, in
ternational and real estate banking
activities. In addition, he will also
direct the bank’s overall marketing
and business development efforts.
Mr. Reidy formerly held several
executive positions with a group of
five Chicago suburban banks. Prior
to that, he spent 20 years with the
Northern Trust Company in various
senior management positions, in
cluding senior vice president of the
banking department.
* * *
Michael Slade has been named
operations officer at the Federal
Reserve Bank of Chicago.
In his new position, he will have
responsibility for the purchasing
and supply and administrative com
munication divisions.
Mr. Slade graduated from Boston
University in 1977 and joined the

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Federal Reserve Bank of St. Louis

tant vice presidents.
Ms. Harano has been with the
bank since 1979, most recently as
compliance officer.
Ms. Herron joined in 1975 and
has been an operations officer since
1981.
Ms. Nishikimoto began her career
with the bank in 1976. She was
made manager of the accounting/
control department in 1981 and an
officer later that year.
*

William M. Ogle has been elected
assistant vice president at The MidC ity N ational
Bank of Chicago,
a c c o rd in g to
K en n eth
A.
Skopec, p re si
dent.
Prior to join
ing the bank Mr.
Ogle was vice
p re sid en t and
chief operating
w .M . o g l e
officer for the
packaging division of a large
automative and household chemical
products manufacturer.
* * *

We’re putting $3 million into renovations
and we’re bright new and fresh.
But we’re still the same cozy,
comfortable, informal, inexpensive
downtown “inn on the parh’’
you’ve always enjoyed.
e c re ated a bra nd
new restaurant, the
8 th St. Deli &
Lounge, a New
York style eat er y
for breakfast, lunch, full
cours e dinners, late s n a c k s
a n d a co m fo rt ab le lo unge with
e n t e r t a i n m e n t at cocktail hour
a n d a late-night pia no bar.
And, we’ve r e m o d e le d o ur
g u e st r o o m s a nd suites with
new fixtures, new furniture,
new fabrics— a whole new look.

A nd a big o u td o o r pool a n d d e c k
for s u m m e r relaxation.

All things considered, The Essex
Inn’s the best downtown. For

information or reservations
call (800) 621-6909
In Illinois call collect

(312) 791-1901

But we’re still th e s a m e
convenient pla c e — right on
Michigan Avenue a n d C h ic ago’s
Gran t P a rk —so you can walk to the
c it y’s m a jo r bus in es s center, or take
o u r c ourtesy li m ousine to s h o p p in g
a n d touri st attrac tions.
With ple nty of public sp ac e for
meeti ngs, conferences, displays,
ba nquets. LOTS O F FR EE PARKING.

Chicago, Illinois 60605
(312) 939-2800
Another fine Aristocrat Inn of America

N orthw estern Banker, March, 1984

WBA Group One Bankers Meet
By STEVE BURCH
Associate Publisher

HE GROUP One bankers of the
T
Wisconsin Bankers Association
met in Minneapolis last month for
their 80th Annual Meeting. In con
trast to the French motif of the head
quarter L’hotel Sofitel, the early arrivers were treated to an Hawaiian
party complete with a Polynesian
band, tropical drinks and hula danc
ers.
Highlighting the business session
was the election of officers for the
1984-85 year. Elected were: Presi
dent—Glen Johnson; Vice Presi
d e n t-R a y Rudnicki; Secretary/
Treasurer—Arne Stovring, and Past
President—Ken Heiser.
WBA President W.J. Morrissey
offered the bankers an update on the
activities of the state association.
He emphasized the associations con
tinued commitment to education
and announced the addition of an ed
ucation director to the WBA staff.
Kim Kindschi has joined the associ
ation in this new position. Comple
menting the Group 1 bankers on the
business nature of their meeting, he
noted that other group meetings in
the state have become more socially
oriented. This has prompted the
WBA to initiate a series of “think
tank’’ sessions during the year.
These half-day meetings will provide
for more membership participation

in the decision making process of the
association. He added that the date
of the WBA Washington, D.C. trip
has been changed from the fall to
early May to also encourage greater
particiaption by the bankers.
Bryan Koontz, WBA executive
director, followed with a review of
the recent American Bankers Asso
ciation Leadership Conference. He
advised that federal regulators and
legislators have begun focusing on
these 5 key areas of concern affec
ting the financial services industry:
1.) Definition—a re-definition is ex
pected on what a bank is and what
isn’t. 2 .) Ownership—exactly who
can own a bank and who cannot? 3.)
Services—what services can be of
fered by a bank and what will be the
effects of asset deregulation? 4.) Lo
cation—what will be the fate of in
terstate banking? 5.) Regulation/

Control—what will be the results o f^
the Bush Report?
In turning to legislative activity
within Wisconsin, Mr. Koontz con
centrated on the recent controver
sial and lengthy interstate/regional ®
banking battle. A proposed bill
which would have allowed interstate
bank acquisition recently failed to
win the endorsement of the Assem
bly Financial Institutions Commit-®
tee. The WBA is vigorously opposed
to any form of interstate banking
and Mr. Koontz commended the com
mittee membership for not being in
timidated by outside political pres-®
sures.
The conference concluded with an
evening reception and banquet fol
lowed by the entertainment of The
Swinging Ambassadors.
□©

Staff Changes Announced
At Valley Bank, Appleton

Valley Bank, Appleton, recently
announced that Thomas J. Burmeister has been named accounting man
ager. In addition, Lyle J. Parins has
been elected investment officer, and ®
Elizabeth H. McVoy, cash manage
ment officer. William G. Veit has
been named manager of the Shiocton
location and Gary S. Smits as man
ager of the Hortonville location. ®
Also at the Hortonville location,

WBA President W.J. Morrissey, pres., Independence Bk. of Elkhorn, and WBA Executive Di
rector Bryan Koontz join 1984-85 WBA Group 1 officers: Vice Pres.— Ray Rudnicki, pres.,
State Bk. of Drumond; Past Pres.— Ken Heiser, pres., 1st Natl. Bk., Hudson; Pres.—Glen
Johnson, pres., 1st Bk. of Grantsburg, and Sec’y/Treas.—Arne Stovring, exec, v.p., S h e ll#

Lake St. Bk.

LEFT— Dick Hansen, (center) exec, v.p., First Wisconsin Natl. Bk., Eau Claire, visits with Buzz Hulett, prod. mgr. and Kathy Stephens, corr.
bkg. rep., both with Norwest Minneapolis. RIGHT—Getting ready to enjoy the breakfast, jointly sponsored by First Wisconsin Natl. Bks. of
Milwaukee and Eau Claire, are: Jack Menard, v.p., First Wise. Natl. Bk., Milwaukee; Vern Mech, pres., Farmers & Merchants Bk., Green ®
wood and Phyllis and Don Kramp, v.p., First Wise. Natl., Milwaukee.

N orthw
estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

Wisconsin News

_ Dan J. Zuleger has been promoted to
w assistant branch manager.
R.
Fritz Jilek, president of Voith,
Inc., has been elected to the bank’s
EPOSITS and loan fig u re s fo r W is c o n s in banks re p o rtin g d e p o s its of
board of directors.
$100 m illio n or m ore at year-end are show n in the ch a rt below . C om
^
Mr. Burmeister started with the para tive fig u re s from a year ago are featured.
bank in 1972, most recently serving
(Last three figures omitted)
as staff auditor for Valley BancorpoDecember 31, 1983
December 31, 1982
ration.
Deposits
Loans Deposits
Loans
Mr. Parins joined in 1977 as an ac1. First Wisconsin Bk., Milwaukee........... $2,485,557 $2,225,127 $2,371,073 $2,148,163
0 counting operations trainee and
2. Marine Bank, N.A., Milwaukee.............
959,959
782,217
931,189
672,797
most recently was an operations of 3. M&l Marshall & Ilsley Bk., Milwaukee . .
845,681
643,207
788,308
582,068
454,855
383,690
ficer. Ms. McVoy started her bank 4. First Bank Milwaukee, N.A....................
472,988
350,047
5. Citizens Bank, Sheboygan...................
362,656
229,802
306,741
195,175
ing career with Marshall & Ilsley
6. First Wisconsin Natl. Bk of Madison . . .
359,405
242,232
335,621
196,500
Bank, Milwaukee and most recently
7. Heritage Bank, Milwaukee...................
357,957
216,575
309,393
196,165
^ served as corporate bank services of 8. Kellogg-Citizens Natl. Bk., Green Bay . .
299,294
187,332
246,001
165,622
ficer for First Bank, N.A., Milwau 9. Marine Bank West, Brookfield 1.............
222,412
126,948
10. First American Natl. Bk. Wausau.........
180,255
130,692
171,648
132,964
kee.
Peoples Marine Bk., Green B a y ...........
179,173
118,246
165,210
113,648
Mr. Veit most recently was per 11.
12. First Natl. Bk. of Kenosha.....................
177,267
91,732
155,663
78,259
sonal banking officer at Firstar 13. Independence Bk. Waukesha, N.A........
167,022
102,656
162,881
92,628
£ Bank, N.A., where he started his 14. First Wisconsin Natl. Bk., Eau Claire. . .
166,518
98,882
152,295
90,879
164,154
career in 1977. Mr. Smits formerly 15. M&l Bank of Hilldale, Madison.............
109,908
146,916
93,572
159,127
110,594
155,262
104,665
was a personal banking officer and 16. Valley Bank, Green Bay........................
Security First Natl. Bk., Sheboygan
158,687
112,438
139,511
104,009
customer service representative 17.
18. Valley Bank, Appleton..........................
157,402
105,196
143,149
92,591
supervisor at the Valley Bank, 19. F&M Bk., Menomonee F a lls .................
152,300
86,676
116,951
81,641
• Green Bay - Military Avenue 20. M&l Bank of Madison ..........................
147,420
85,864
116,777
79,704
141,478
97,194
127,211
97,156
Branch. Mr. Zuleger most recently 21. Bank of Wisconsin, Janesville.............
First Wisconsin Natl. Bk., Oshkosh . . . .
141,279
89,700
133,236
79,657
served as management trainee and 22.
23. Manitowoc Savings Bank, N.A..............
138,286
70,804
117,633
61,587
operational supervisor at the Hor- 24. United Bank, Madison..........................
137,959
98,475
117,333
85,886
tonville Branch.
25. Wauwatosa State Bank........................
137,452
44,121
114,394
44,230

Largest Banks in Wisconsin

*F D P Sale Announced
First Bank System, Inc., a Min
neapolis - St. Paul based bank hold
ing company, announced the sale of
• First Data Processing, Inc., Milwau
kee, to George Dalton, FDP presi
dent, and Welsh, Carson, Anderson
& Stowe, a New York-based venture
capital company. Terms of the sale
• were not disclosed.
No change in the management or
staffing of the company is expected.

^ Named in River Falls

26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.

Norwest Bk. La Crosse, N.A..................
132,210
97,754
129,684
90,929
M&l Northern Bk., Milwaukee...............
131,652
70,007
123,380
77,430
First Wisconsin Natl. Bk., Fond du Lac .
130,400
74,911
115,857
66,694
Heritage B&T, R acine..........................
126,829
75,568
93,806
62,144
American Natl. B&T, Eau C laire...........
125,491
90,875
118,998
81,608
Natl. Exchange B&T, Fond du L a c .......
124,153
79,250
113,787
63,743
Marine Bank Dane County, Madison . . .
122,050
75,894
115,663
74,191
Waukesha State Bank..........................
121,951
88,070
103,650
88,689
Milwaukee County Bk., West A llis .......
118,265
28,250
108,069
29,582
115,717
Marine Bk. Rock Cnty. N.A., Janesville .
81,471
103,105
72,182
Bank of Sturgeon B a y ..........................
115,682
71,034
104,188
65,883
Heritage Bank B e loit............................
108,120
52,864
96,339
49,240
First Natl. Bk., N eenah........................
107,125
63,261
92,135
51,524
Independent Bk. Kenosha, N.A.............
104,990
41,591
95,028
48,683
First Natl. Bk., Stevens P o in t...............
102,800
58,100
86,300
48,300
1 Germantown Marine Bank, Marine Bank Kettle Moraine, Marine National Bank of
Waukesha and Waukesha County Marine Bank merged July 8,1983, to form Marine Bank West.

Philip Betzel has been named ex
ecutive vice president of First Na Valley Banks Offer
tional Bank of River Falls.
Discount Brokerage Service
Prior to joining First National, he
Beginning March 7, Valley Banks
£ served as executive vice president of
the B. John Barry banks which he are offering discount brokerage ser
vices, called Valley Services.
joined in 1975.
The service will be managed by
Robert E. Cheek, trust officer with
Elected in Sparta
Valley Co. He previously was a
® Sidney F. Bateman has been broker with the Milwaukee Co. Hope
elected vice president and cashier of Buchberger will serve in the capacity
First Bank of Sparta.
of administrative assistant.
Mr. Bateman joined the bank in
Valley has entered into an agree
^A ugust of 1983 and previously served ment with Q&R Clearing Corp., New
^ a s national bank examiner with the York, through which Valley will ex
Comptroller of the Currency, sta ecute stock and bond purchases and
tioned in Appleton and Eau Claire, sales at a discounted commission
Wis., and Winona, Minn. He started rate.
^h is banking career with the First
Valley Brokerage accounts are
National Bank in Grand Forks, N.D. fully protected and insured up to

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Federal Reserve Bank of St. Louis

$500,000 with the Securities Inves
tors Protection Corporation.

Acquisition Completed
F&M Financial Services Corpora
tion, Menomonee Falls, recently
completed the acquisition of the
State Bank of Slinger. The combined
assets as of December 31, 1983 of
F&M Financial are in excess of $120
million.
State Bank of Slinger is now offi
cially named F&M Bank of Slinger.
Its offices will do business as F&M
Bank, Slinger; F&M Bank, Jackson,
and F&M Bank, West Bed. Other
than the name changes, there will be
no difference in the day-to-day
operation of the bank.
N orthw estern Banker, March, 1984

hone is conveniently
Ideated just beyond
your bank’s
6th & Marquette
[Minneapolis

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Federal Reserve Bank of St. Louis

Member FDIC
8ITO

33
gins at 8:30 a.m., followed by the
program, 9 a.m. to 4 p.m., which in
cludes a break for lunch at noon.

Brainerd Changes Announced

Willmar President Elected
The board of directors of First
•B an k Willmar has elected Lyle R.
Weismantel president. He succeeds
N. Thomas Wiedebush who recently
was elected president of First Bank
St. Cloud.
• Mr. Weismantel began his bank
ing career in 1965 at the Aberdeen
community banking center of First
Bank of South Dakota where he was
elected assistant cashier in 1969. He
•joined the credit analysis depart
ment of First Bank System in 1970
as an analyst and was appointed liai
son credit officer in 1972. Mr. Weis
mantel was elected vice president
•an d manager of the Wessington
Springs community banking center
of First Bank of South Dakota in
1973, a position he held until 1974
when he joined the Madison com^n u n ity banking center as vice presi
dent and manager. He most recently
has served as senior vice president
of commercial lending at First Bank
^Bismarck, a position he has held
^since 1981.

Senior V.P. Elected at
Norwest Bank Owatonna
•

Carl O. Myers has been elected
senior vice president/loan adminis
tration of Norwest Bank Owatonna,
N.A., as announced by President
Kenneth E. Wilcox.
• Prior to accepting the position
with Norwest Bank Owatonna, Mr.
Myers served the past 5 years as
president and the previous 5 years
as vice president of Norwest Agri
c u ltu ra l Credit, Inc., of Sioux Falls,
S.D., a unit of Norwest Corporation.
He previously held positions with
Norwest’s affiliate in Redwood Falls,
where he began his banking career in
* 9 6 4 as ag rep and held the position
of vice president and ag rep at Farm
ers and Merchants State Bank in
Blooming Prairie for four years commiencing in 1970 before moving on to
^Sioux Falls.

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Federal Reserve Bank of St. Louis

First American Bank of Brainerd
recently announced the promotions
of two officers, the addition of two
new officers and the appointment of
a director.
Stella Middleton was promoted to
vice president/manager personal
banking department. Ms. Middleton
Winona Promotes Five
has been with the bank 27 years.
At Merchants National Bank in
Diane Runberg was promoted
Winona, the following five people from assistant vice president to vice
were recognized and promoted:
president comptroller/cashier.
Lillian Graves, named assistant
Emma Rademacher, who has been
vice president of bank operations with the bank seven years, has been
and personnel; Robert D. Page, ap promoted from bookkeeping man
pointed as an assistant cashier of in ager to operations officer.
stalment loans; Patrick M. PellowAlso promoted was Dorene Tautski, appointed as an assistant cash ges to real estate loan officer. Ms.
ier of instalm ent loans, and Tautges has been
Frederick T. Hubbard III and San with the bank
dra M. Schmitt promoted to instal eight years.
ment loan officers.
Glen A. Gus
tafson has been
appointed to the
MBA and BMA
board. Mr. Gus
Sponsor Marketing Seminar tafson, Brainerd
The Minnesota Bankers Associa a tto r n e y and
tion and the Bank Marketing Asso partner in the
law firm of Gus
c ia tio n , M in
tafson, Hanson G.A. GUSTAFSON
nesota Chapter,
& Krueger, Ltd., established the law
will jointly spon
firm in 1971.
sor a Marketing
S em in ar
on
March 29 at the
Luverne V.P. Named
Hyatt Regency
Hotel in down
ureg Burger has been named vice
tow n M innea
p re s id e n t
of
polis.
Norwest Bank
The theme of
Luvurne.
M. VANCE
the seminar is
Mr. B urger
“Creative Leadership in Bank Mar has served in
keting” and features Mike Vance, a banking the past
former Walt Disney Productions ex ten years, most
ecutive in charge of ideas and people recently as vice
development.
president and as
Mr. Vance, an adventurer in cre sistant manager
ativity, brings the future into the of the Exchange
G.BURGER
present by making people aware of Bank of Gibbon,
what is possible, teaching manage a position he has held since 1980.
ment by values as a method to in
crease productivity and stimulate
Silver Bay and Two Harbors
new ideas.
The seminar is being planned by a Bank Merger Approved
joint committee of representatives
The proposed merger of Norwest
from the MBA and the BMA. The Bank Silver Bay into Norwest Bank
committee is chaired by Michael Riley, Two Harbors, N.A. has been approved
first vice president of the BMA and by the Comptroller of the Currency.
executive vice president of Signal
The surviving institution will be
Hills Bank, West St. Paul.
under the charter and title of Nor
Registration for the seminar be west Bank Two Harbors, N.A.
N orthw estern Banker, March, 1984

Twin

S A RESULT of a special study,
A
the correspondent bank ac
tivities of First Bank Minneapolis
and First Bank St. Paul are now be
ing coordinated. The study was com
pleted by McKinsey & Company, a
nationally known management con
sulting firm, for First Bank System.
Robert J. Anderson, executive
vice president, who has responsibili
ty for correspondent banking at
First Bank Minneapolis and First
Bank St. Paul, said, “McKinsey’s
assignment was to conduct a thor
ough, strategic analysis of the ef
fects of deregulation on respondent

R.J. ANDERSON

K.A. WALES

banks and of the correspondent
banking function at both banks. The
most important outcome of the
study was that it confirmed our long
term commitment to correspondent
banking. But it also identified some
key organizational issues which will
help us create a more coordinated
approach to our correspondent
banking products and services in
areas such as investment, data pro
cessing and automated teller ma
chine networks.”
To implement the findings of this
report, Mr. Anderson said that while
the correspondent banking depart
ments at the two banks will remain
separate, “a new structure will pro
vide the respondent banks with a
stronger, better staffed and more
responsive organization.”
Heading that structure directly
under Mr. Anderson is Kenneth A.
Wales, senior vice president at First
DigitizedNfor
FRASER
orthw
estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

Bank Minneapolis, who has overall
responsibility for the marketing, ad
ministration and all non-credit ser
vices for correspondent banking cus
tomers at both FBM and FBSP. Mr.
Wales has headed the First Bank
Minneapolis correspondent depart
ment for some years and is widelyknown among community bankers
throughout upper midwest states.
Mr. Wales said “Credit is today’s
growth area in correspondent bank
ing. The McKinsey study strongly
recommended that we put our em
phasis on credit and look at larger
opportunities, especially with multi
bank holding companies and chain
banks. In addition, we’re still inter
ested in making loans to individuals
to buy banks, increasing our agricul
tural credit operations, and adding
significant portions to our loan port
folios.”
In line with that finding of the
study, Mr. Anderson named Vice
President Dick Parnell as the assis
tant department head of correspon
dent banking, with duties including
the overall responsibility for credit
administration and the delivery of
credit products. Reporting to Mr.
Wales, Mr. Parnell is a vice presi
dent of both FBM and FBSP.
Also reporting to Mr. Wales are:
• Michael E. Boncher, FBM vice
president, mulit-bank holding com
panies and multi-bank owners divi
sion. This division will provide
credit services to large MBHCs and
multi-bank owners in the upper mid-

R.L. PARNELL

M.E. BONCHER

M.T. MISHOU

S.A. LAUX

west. In Mr. Parnell’s absence, Mr.
Boncher will have departmental
credit authority.
• Jack L. Quitmeyer, formerly in
FBM’s correspondent department#
and now vice president at FBSP for
the non-credit products division.
This division will develop, market
and service all non-credit products.
Reporting to Mr. Parnell are:
®
• J.P. Mansfield, FBM assistant
vice president, agricultural produc
tion. His duties include interacting
with all credit-related divisions on
overlines and participations, and®
overseeing direct ag production
credits.
• Michael T. Mishou, FBSP vice
president, correspondent banking
division, St. Paul. This function will®
continue to provide all services to
FBSP correspondent customers in
the five-state area.
• Sally A. Laux, FBM assistant
vice president, correspondent bank
ing division, Minneapolis. Her du
ties parallel those of Mr. Mishou for
FBM correspondent customers in
the department’s total trade area. ^

35
charge of financial and management
information services and discon
tinued business activities, and
regional vice president of interim
The board of directors of Bremer lending for FBS Mortgage Corpora
Financial Services, Inc. has an tion.
nounced the election of two new of
* * *
ficers on the corporate staff and the
First Bank Minnehaha, Minnea
promotion of two others.
polis,
recently announced the follow
Robert J. Hall has been promoted
ing
promotions:
to vice president-chief administra
Eileen H. Beck has been elected
tive officer and William B. Naryka
has been promoted to vice president- retail banking officer and training/
chief financial officer. Wayne Nelson marketing coor
has been elected tax officer and dinator.
She began her
James Simons, credit officer.
Mr. Hall spent 23 years at the career with the
American National Bank of St. bank in 1983 as
Paul, and was executive vice presi personal bankerdent of a California bank prior to investment coun
selor. Previous
joining Bremer in July, 1982.
to
joining First
Mr. Naryka began his career with
Bank
Minnehaha
Ernst and Whinney, public accoun
E.H. BECK
tants, and was a vice president with she was employed
First Bank System before assuming by Investors Dithe controller’s position in Septem
ber, 1982.
Mr. Nelson joined Bremer in No
vember, 1980, from Northern Tele
com, Ltd., where he had been a sen
ior tax analyst. Mr. Simons was an
assistant national bank examiner
with the Comptroller of the Cur
rency before joining Bremer in July,
1982.
Minnesota News

Dale S. Hanson, 45, has been
• elected president and a director of
First Bank Saint
Paul. Mr. Han
son, who has
been executive
• vice president in
charge of the
bank’s wholesale
lending activi
tie s, rep laces
® Andrew G. Sail,
who has resigned
D.S. HANSON
from the bank to
pursue other business interests. Mr.
^ Sail has been with the bank 28
years.
Mr. Hanson has spent his 21 -year
career with the bank in the commer
cial lending area. He joined in 1962
^ a n d became vice president and head
of the commercial lending division in
1968. He was elected a senior vice
president and head of one of the
bank’s wholesale lending groups in
^ Ju n e of 1982. In November of 1983
he was eleced executive vice presi
dent in charge of all wholesale bank
ing.
* * *

The directors of Norwest Bank
Midland, N.A.
have e lec te d
Gene A. Bier,
^ v ice president
and chief ex
ecutive officerMinnesota,
N o r th w e s te r n
^ B e ll, to th e
bank’s board of
directors, accor
G.A. BIER
ding to Ernie
Pierson, president and CEO.
A
* * *

recently serving as collection manager/installment lender.
* * *

Richard R. Beckham has been
named president of Norwest Busi
ness Credit, Inc., a Minneapolisbased subsidiary of Norwest Finan
cial, Inc. He succeeds John H. Ol
son, who recently joined Norwest
Bank Minneapolis, N.A.
Mr. Beckman had been serving as
district manager of Norwest Finan
cial, Inc. in Burlington, Mass. He
Richard A. Bishop, president of had been with Norwest Financial,
Norwest Bank East St. Paul, has an since 1960, when he started as a
nounced the election and promotion manager trainee in Dayton, Ohio.
• o f two officers.
He was promoted to branch man
Joan A. Grzywinski has been ager of the office in Warren, Ohio, in
named commercial loan officer. Mr. 1963 and later was branch manager
Grzywinski, a graduate of the in Pittsburgh, Pa. He moved to Bur
University of Minnesota, joined the lington as district manager in 1968.
•B a n k in May, 1983, and previously
* * *
was with the Norwest Corporate Of
fice as a human resources adminis
Michael J. Seeland has been
trator.
elected president and chief oper
Robert M. Wiener has been pro- ating officer of FBS Property Re
•m oted to consumer loan officer. Mr. sources Corporation, a wholly-owned
Wiener joined the bank in 1976, as a subsidiary of First Bank System.
trainee with Harding High School’s
Mr. Seeland has been with FBS
Distributive Education Program. since 1976 and most recently held
Since that time, Wiener has held the positions of senior vice president
•various positions in the bank, most with FBS Financial Corporation in

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Federal Reserve Bank of St. Louis

J.K. RAIGNA

C.C. REESE

versified Services in Minneapolis.
Joan K. Raigna has been elected
real estate officer. She began her ca
reer with First Bank Minnehaha in
1983 as manager of the real estate
loan department. Previous to join
ing the bank, she was employed by
Merrill Lynch Realty.
Cindy Cofer Reese has been
elected credit review officer. She
started with First Bank Minnehaha
in 1982 as a management associate,
most recently serving as credit
analyst in the commercial lending
department.
* * *
Norwest Mortgage, Inc. announced
recently that a registration state
ment has been filed with the Securi
ties and Exchange Commission re
lating to a proposed $40 million pub
lic offering of shares of Norwest
Realty Investors, a newly organized,
self-liquidating real estate invest
ment fund.
Norwest Realty Investors will op
erate as a separate entity and will be
owned by its shareholders. Norwest
N orthw estern Banker, March, 1984

Minnesota News
36
Realty Advisors, a unit of Norwest
Mortgage, will act as advisor to the
fund.
Dain Bosworth Incorporation and
Piper, Jaffray & Hopwood Incor
porated, Minneapolis; Blunt Ellis &
Loewi Incorporated, Milwaukee;
Rauscher Pierce Refsnes, Inc., Dal
las; and Wheat, First Securities,
Inc., Richmond, are to be managers
of the underwriting group.
Charles S. Ingwalson, vice presi
dent of Norwest Mortgage and pres
ident of Norwest Realty Advisors,
said that the fund is expected to in
vest primarily in mortgages with
equity participations. The fund’s
principal interest will be invest
ments in newer existing commercial
property located in the United
States, primarily office buildings,
mm
m •
T. HANSEN
N. HENRY
shopping centers, and office-ware
house properties. The fund will oper
Gregory Lickteig and Thomas
ate on a non-leveraged basis.
Hansen have been named assistant
The initial public offering price is vice presidents in commercial loans
expected to be $10 per share. The of and Nedra Henry has been promoted
fering is expected to be made in 60 to operations officer.
to 90 days, after necessary regula
Mr. Thole previously was group
tory clearances have been received, credit officer with First Bank Sys
and will be made only by means of a tem, Inc. He has been employed by
prospectus.
First Banks since 1973.
* * *
Mr. Kuehnast joined First Bank
Minneapolis in 1967. In 1970 he was
First Bank Edina has announced named manager of retail banking at
a series of personnel changes at the First Bank Edina, transferring back
bank.
to First Bank Minneapolis in 1979.
Merle Corrow,
Mr. Standafer, who previously
senior vice presi
held the position of vice president,
dent in the com
retail banking division, at First
mercial division,
Bank Edina, began his banking
has retired. He
career in 1973 at First Bank Worth
had been with
ington. He joined First Bank
First Bank Sys
System in 1979 and was elected to
tem since 1942
the Edina post in 1981.
and joined First
Previously w ith Community
Bank Edina in
Credit Corporation, Mr. Lickteig
M. CORROW
1968.
joined First Bank Edina in 1979.
Prior to joining First Bank Edina,
Mr. Hansen served as assistant vice
president at First Bank State, where
he had been since 1978.
Ms. Henry has been with the bank
since 1973, most recently as teller
manager.
* * *

1977 as a teller, and joined the audit-_
ing department in 1983.
* * *
First Bank System, Inc. last
month announced its intention to
consolidate its banking operations®
in North Minneapolis. The First
Bank Minneapolis office at West
Broadway and Emerson Avenue
North will be the site of the consoli
dated facility. Operations of the®
First Bank Minneapolis office at
1718 Washington Avenue North
will be transferred to the West
Broadway location. Operations at_
the Minneapolis office of First Bank®
Plymouth at 2000 Plymouth Ave
nue will move to the main office in
the city of Plymouth. These changes
are expected to be completed by theg|
end of the first quarter of 1984.
Gordon D. Crum, vice president
and manager of the North Washing
ton Avenue office, will become vice
president and manager of the com-^
bined facility on West Broadway. C.
Kirby Scroggins, manager of the
West Broadway office, will assume
responsibility for the West Broad
way, Ridgedale, St. Anthony Falls^
and suburban Plymouth neighbor
hood offices of First Bank Minnea
polis. Mildred Gilbert, manager of
the Minneapolis office of First Bank
Plymouth, will become an officer 0%
the West Broadway facility.
* * *
Joyce C. Lambrecht has been
elected an assistant vice president^
and manager of the Countryside fa
cility of American State Bank of
Bloomington, and Elisabeth Reznicek has been named customer ser
vice officer.

J.C. LAMBRECHT

G.H. THOLE

F.D. KUEHNAST

Named vice presidents were:
Gerald H. Thole, senior credit officer
in the commercial loan division; F.
Donavon Kuehnast, retail banking
division, and Daryl Standafer,
business development.
DigitizedN for
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orthw estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

At Liberty State Bank, St. Paul,
Cordell B. Cleveland has been elected
commercial loan officer and Jane A.
Treston has been elected auditor.
Mr. Cleveland joined the bank in
1983 as a commercial loan assistant
and previously was with First Bank
Edina.
Ms. Treston joined Liberty in

E. REZNICEK

Ms. Lambrecht joined the bank in
1973 and was promoted to her most
recent position of operations officer®
in 1980.
Mrs. Reznicek joined the bank in
1976 and in addition to her new posi
tion will retain her post as auditor. ^
* * *

Oh grandmother,
what big teeth you have
ittle Red Riding Hood figured out that she wasn’t
dealing with her grandmother just in time. Who are
you dealing with for your upstream correspondent
relationships?

At American, we have the resources to be your corre
spondent partner and the desire to help you succeed.
We do not use your m oney to com pete for your
customers.
Please evaluate your upstream correspondent rela
tionships while you still have time. Are you dealing with
your helpful grandmother, or the hungry wolf, who
said, “Better to eat you with, my dear”.

AME RI CAN
N A T I O N A L

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

B A N K

- S A I N T

P A U L

N orthw estern Banker, March, 1984

Minnesota News
38
James H. Hearon, III, president
and chief executive officer at Na
tional City Bank
of Minneapolis
has announced
th e follow ing
changes to the
bank’s official
staff. Promoted
to new positions
were: Ronald L.
Frykholm, vice
president, opera R.L. FRYKHOLM
tions division;

D.W. KJONAAS

J.W. LA BOUNTA

J.S. KES

L.J. RICKHEIM

Peter J. West, assistant vice presi
dent, group M. mortgage and real
estate financing, commercial bank
ing department; Susan R. Hinrichs,
personal banking and operations of
ficer, Southdale Office; Colette B.
Ingle, executive and professional
banking officer, group E, executive
and professional relationships, com
mercial banking department, and
Brian P. Seim, accounting officer.
Mr. Frykholm is a graduate of
Minneapolis Business College and
was previously assistant vice presi
dent in the operations division. He
has been with the bank since 1965 in
proof and deposit operations.
Mr. Kjonaas, previously assistant
vice president in the operations divi
sion, joined the bank in 1968.
Mr. Kes, previously assistant
auditor, started with the bank in
1981.
Mr. LaBounta, previously credit
card officer, has been with National
City since 1976 and directs all credit
card operations.
Ms. Rickheim, previously assis
tant cashier, started with the bank
in 1973 and is responsible for pur
chasing management.
Mr. West, previously real estate
loan officer, joined in 1983. Prior to
this, he was associated with C.I.T.
Corporation in Milwaukee, Wis., and
First National Bank of Minneapolis.
Ms. Hinrichs, a graduate of Normandale Jr. College in Bloomington,
has been with the bank since 1980 in
the area of personal banking.
Ms. Ingle, a graduate of Univer
sity of California - Berkley, joined
National City in 1980 also in the
area of personal banking.
Mr. Seim has worked in the ac
counting department since 1982.
* * *

Constance D. Johnson has been
elected re ta il
«II! ipiiilgip .
banking officer
of First Bank Se
WÊm
curity, St. Paul,
a cc o rd in g to
Robert T. Wallner, president.
Ms. Johnson
began her career
C.B. INGLE
B.P. SEIM
in 1977 w ith
Donald W. Kjonaas, vice president, First Bank Se
C.D. JOHNSON
operations division; John S. Kes, as curity in the in
sistant vice president, credit divi stalment loan department.
sion; John W. LaBounta, assistant
* * *
vice president, corporate services di
Leonard H. Ramotar has joined
vision; Laura J. Rickheim, assistant
vice president, operations division; FBS Business Finance Corporation
DigitizedN orthw
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estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

as loan officer of the business credit
division. Mr. Ramotar formerly was
a loan administrator at Norwest
Business Credit, Inc.
* * *
First Bank Minneapolis recently
announced the promotion of six em
ployees to vice
president level
from assistant
vice president.
They are:
#§§P*
/ V,
T erry
L.
Adams and Ken
-«nr ,*%
neth S. Bezdicek
in the interna
tional financial
services depart
T.L. ADAMS
ment;

K.S. BEZDICEK

K.W. JOHNSON

M.M. PETERSON

L.R. HILL

(ß

Sandra A. Vitrano at First Bank
International, Milwaukee;
Kurt W. Johnson in the personal#
trust and probate division;
Marianne M. Peterson in the trust
agency/custody division, and
Larry R. Hill in the money market
department.
®
* * *
The Park National Bank of St.
Louis Park has announced that Brad
Cook has joined its staff as senior#
vice president and controller.
Prior to his appointment with the
Park National Bank, Cook was with
Alexander Grant & Company. He is
a graduate of the University of M in#
nesota School of Accounting.
* * *
Marquette National Bank at Uni-^
versity has announced the appoint-

Minnesota News

^ ment of Gracia L.A. Lindberg to the
w position of marketing officer for the
bank.
Ms. Lindberg joined the bank as a
teller in 1980, became a personal
^ banking representative in 1981 and
was appointed personal banking of
ficer in July, 1982.
* * *
^

•

Phillip M. Broom has been ap
pointed vice president of credit re
view for First
Bank System,
Inc. effective
April 1, 1984.
He currently is
vice president of
credit adminis
tration for First
Bank, N.A., in
Milwaukee, Wis.
Mr. Broom has
P.M. BROOM
been associated
with FBS since 1967 when he joined
First Bank Saint Paul. He was ap
pointed correspondent banking of
ficer in 1969 and promoted to assis
tant vice president of that depart
ment in 1971. He joined First Bank,
N.A., in La Crosse, Wis., as vice
president and senior lending officer
in 1975 and has held his current po
sition as vice president of credit ad
ministration for First Bank, N.A., in
Milwaukee since 1978.

Rochester Directors Retire
Frederick T. Hubbard and Clif
ford M. Johnson recently retired
' after serving a combined total of 35
years as directors of Norwest Bank
Rochester, N.A.
Mr. Hubbard served 16 years on
the board, 13 of those years as chair
man and chief executive officer of
the bank. He joined the North
western Bank of Helena, Mont., an
affiliate of Northwest Bancorporation, in 1957, as vice president, cor
respondent banking and marketing.
In 1959 he joined the corporate of
fice in Minneapolis as vice president
of marketing and later assumed the
vice presidency of international
banking. Mr. Hubbard was elected
president and director of North
western Bank of Rochester in July,
1967, a position he held until Sep
tember, 1980. Retiring in 1980 from
the presidency, he remained a direc
tor of the bank.
Retiring after 19 years of service,
Mr. Johnson joined the board of di
rectors of Northwestern Bank in
January, 1964.

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Federal Reserve Bank of St. Louis

Largest Banks in Minnesota
EPOSITS and loan fig u re s fo r M in n e so ta banks re p o rtin g d e p o s its of
$70 m illio n or m ore at year-end are show n in the ch a rt below . C om
para tive fig u re s from a year ago are featured.

(Last three figures omitted)

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.

December 31, 1983
December 31, 1982
Deposits
Loans Deposits
Loans
$4,435,905 $3,342,149 $3,575,182 $2,618,962
3,895,822 3,412,492 3,191,084 2,943,620
2,138,343 1,926,181 2,096,691 1,648,385
964,722
906,490 1,035,409
879,203
355,462
328,922
313,145
266,252
256,427
333,063
291,513
237,945
280,701
263,918
267,158
244,169
266,270
184,103
226,686
173,836
243,642
167,238
173,408
117,287
232,378
164,248
212,101
145,822
205,460
165,933
193,959
143,589
196,227
181,013
179,523
150,555
195,163
113,197
176,037
105,331
187,212
140,393
143,663
111,711
173,430
140,416
135,101
105,459
173,368
148,820
152,487
124,094
160,782
119,389
119,247
92,187
152,178
109,929
132,035
99,060
144,655
106,333
141,671
93,250
138,279
110,253
128,905
95,834
137,987
75,369
112,229
70,118
132,872
97,115
118,719
86,641
131,501
75,931
103,544
56,962
129,900
100,615
113,389
83,687
101,434
129,278
103,614
73,023
122,278
84,589
99,057
69,541
90,687
123,973
116,441
80,546
121,130
91,772
107,814
84,696
121,018
101,861
102,250
87,517
119,284
94,900
102,977
66,077
118,703
84,082
96,995
74,679
97,297
113,329
102,872
79,896
112,240
95,047
89,481
72,583
55,047
111,805
80,378
42,323
110,013
85,089
90,852
68,989
109,421
83,142
96,195
72,692
107,606
64,407
102,537
63,296
99,920
80,881
89,870
64,239
98,559
63,276
80,724
46,918
97,459
68,504
81,052
54,929
97,328
64,653
93,677
56,511
92,909
65,582
92,641
55,810
92,056
61,879
80,984
58,611
92,040
71,610
87,126
62,873
91,972
52,712
72,990
58,908
91,947
55,840
76,672
48,675
90,622
49,103
76,915
45,111
87,797
62,174
84,217
51,938
82,384
42,547
74,384
37,685
82,079
45,075
74,426
41,109
51,307
80,915
75,264
44,097
79,002
45,169
75,502
39,868
78,544
49,755
71,425
53,771
75,869
51,663
71,161
52,403
75,795
53,928
49,227
70,650
75,641
54,583
63,321
43,063
58,784
75,030
68,189
51,875
72,976
44,800
39,852
62,531
71,268
45,885
70,640
43,982
70,443
34,640
64,610
38,840

First Natl., Mpls.....................................
Norwest Bk. Minneapolis, N.A...............
First Natl., St. Paul................................
F&M Marquette Natl., Mpls...................
Norwest Bank St. Paul, N.A...................
Natl. City Bank, Mpls.............................
American Natl. B&T, St. P a u l...............
Norwest Bank Midland, N.A., Mpls.1 . . .
Northern City Natl. Bk., Duluth.............
Norwest Bk. Bloomington, N.A..............
Norwest Bank Duluth, N.A.2 .................
Norwest Bank Rochester, N.A...............
Midway Natl., St. P aul..........................
First Natl., R ochester..........................
First Southdale Natl., Edina.................
First Edina Natl. Bk................................
Norwest Bk. MetroWest, N.A., Hopkins.
First Natl., H opkins..............................
Norwest Bk. Central, N.A., Mpls.3.........
First Minnehaha Natl., Mpls..................
Richfield B&T, R ich fie ld ......................
Merchants Natl. Bk., W inona...............
Community State Bk., Bloomington . . .
Norwest Bank Mankato, N.A.................
First Bank Robbinsdale........................
First Natl., Anoka..................................
Commercial State, St. Paul...................
First Natl. Bk., Austin ..........................
First American Natl., St. Cloud.............
Fidelity B&T, Mpls.................................
Norwest Bk. Calhoun-lsles, N.A., Mpls..
First State Bk., St. P aul........................
First Grand Ave. St. Bk., St. Paul .........
Eastern Heights State Bk., St. Paul . . . .
Wayzata B&T Co....................................
First Bloomington Lake Natl., Mpls. . . .
Norwest Bank Moorhead, N.A.4 ...........
First Natl. Bk., Mankato ......................
First Natl. Bk., V irg in ia ........................
Zapp Natl. Bank, St. C lo u d ...................
Norwest Bank Winona, N.A...................
Norwest Bank Marshall, N.A.................
Norwest Bank Camden........................
Norwest Bk. South St. Paul, N.A............
Norwest Bank Owatonna, N.A...............
Norwest Bk. Maple G rove.....................
First Natl. Bk., Bemidji ........................
Norwest Bank Fairbault, N.A.................
Citizens B&T, Hutchinson.....................
Marquette B&T, Rochester...................
First Natl. Bk., Stillwater......................
Norwest Bank Fergus Falls, N.A...........
Norwest Bank Virginia ........................
First Natl. Bank, Worthington .............
Norwest Bk. Grand Rapids, N.A............
Norwest Bank, St. Cloud.......................
Norwest Bank East St. P a u l.................
Liberty State Bank, St. P a u l.................
First Natl. Bk., H ibb in g ........................
First State Bk., New Brighton...............
fo rm e rly Midland Natl., Mpls.
fo rm e rly First Natl., Duluth
3Formerly Central Northwestern Natl., Mpls.
4Formerly First Natl., Moorhead

N orthw estern Banker, March, 1984

First Bank Saint Paul is the largest bank-managing
underwriter in the Twin Cities. As such, we can give your
bank access to the widest variety of municipals in this area.
And among banks, we’re the 16th largest managing
underwriter in the nation, which enables us to find the best
investment options from around the country and pass them
on to you.

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Federal Reserve Bank of St. Louis

But municipals isn’t all we do. We also offer:
U.S. Government and Agency Securities; Secondary Loan
Participations; Negotiable CD’s, Repurchase Agreements, and
other money market instruments.
Q
And we don’t stop there. Our Investment Services Group
can also provide: Bond analyses and computerized bond
accounting programs; Tax swaps; Asset liability management
assistance; Safekeeping and security clearance services.

WHEN YOU’RE IN
THE MARKET FOR
MUNICIPAL BONDS,
CHOOSE THE MUNICIPAL
LEADER.

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Federal Reserve Bank of St. Louis

Minnesota News

UNIVERSITY of Minnesota Head Football Coach Lou Holtz (center) was the featured luncheon speaker. He is joined by (left to right):
Ernest Pierson, president, Norwest Bank Midland; MBA President Herb Lund, president, Security State Bank, Albert Lea; Conference
Chairman Newton Fuller, president, First Bank Burnsville, and MBA Executive Vice President Truman Jeffers. Right—Participating in the
“ Early Bird” session on executive compensation were: John Ingebrand, president, Kanabec State Bank, Mora; George Celustra, MBA In
surance Consultant; Speaker Michael Swirnoff; Larry Hendrickson, president, L.H. Hendrickson & Company, and MBA Executive Vice
President Truman Jeffers.

Senior Bank Managers Meet
By STEVE BURCH
Associate Publisher

VER 550 Minnesota bankers
O
met in Minneapolis recently for
the 23rd Senior Bank Management
Conference which is sponsored an
nually by the Minnesota Bankers
Association. This year’s conference
was preceded by a meeting of the
MBA Strategic Issues Forum. Sanc
tioned by the 1982 MBA Strategic
Plan as a means to strengthen the
decision making process, the Forum
serves to address issues of concern
and to provide for greater member
ship participation in the develop
ment of MBA positions on contro
versial issues. The 156 member
group represents a cross-section of
the MBA membership with 70% of
the bankers coming from indepen
dent banks. The Forum met to dis
cuss state legislative issues and the
results of the meeting appear later
in this article.
“Trends in Executive Compensa
tion Planning” was the topic of the
well attended “early bird” session
which was conducted by Minne
apolis attorney Michael Swirnoff.
Mr. Swirnoff emphasized that there
is a growing interest in the recog
nized need to provide valued em
ployees with supplemental benefit
compensation. Designed to entice
executives to remain with a firm, he
refers to these supplemental benefit
packages as “golden handcuffs.”
Non-qualified salary reduction and
deferred compensation plans offer
the employer the benefit of selective
participation and flexibility. Not
subject to either IRS or ERISA reg
ulations, the plans also provide tax
related benefits to the employer.
N orthw
Banker, March, 1984
Digitized
forestern
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Federal Reserve Bank of St. Louis

Arthur Harkins, futurist and
president of Anticipatory Sciences,
Inc., gave the bankers a peek into
the future when he spoke on “The
Emerging Information Age.” He
feels that information will soon
replace money as the banking in
dustry’s greatest resource. He in
formed the bankers that new know
ledge doubles every five years with
the current half life of a college
graduate now estimated to be only
18 months. This projects to only six
months by the near 2000. Mr. Har
kins suggests that the management
of the future will need to be anticipa
tory in nature and become futuristic
and risk oriented.
MBA General Counsel John Jackson briefed the bankers on various
non-controversial legislative issues
which will be addressed during the
current Minnesota legislative ses
sion. He was followed by Strategic
Issues Forum Co-Chairmen John
Berg, president, Wayzata Bank and
Trust, and John Lundsten, presi
dent, Buffalo National Bank, who
gave reports on the three controver
sial issues discussed in the earlier
Forum meeting. 1.) Interstate Bank
ing. The Forum favored a change in
the state law affecting interstate
banking by a 70 to 53 margin. Of the
four proposals reviewed, the dele
gates favor the bill expected to be in
troduced by Minnesota Governor
Perpich which would allow inter
state banking with Wisconsin, Iowa,
North and South Dakota, Nebraska,
Montana, Wyoming and Missouri
on a reciprocity basis. (The MBA
board, which met after the report
was given, decided that in view of
the close vote, support to such a bill
would be conditioned on the elimina

tion of usury rate ceilings for
regulated lenders and their af
filiates.) 2 .) Limitations on MultiBank Holding Companies. The For
um, by an overwhelming vote of 117
to 13, expressed continued opposi
tion to the concentration issue
which would limit holding companies to 10 % of deposits in the
state. The bill would provide that if
the 10 % ceiling was surpassed, a
holding company could not buy or
charter additional banks, and affiliate banks could not take advan
tage of the detached facilities law.
3.) Expansion of Detached Facility
Law. Again by a wide margin of 104
to 22 , the Forum voted to support
the MBA Legislative Subcommittee
recommendation which calls for an
increase from two to five of the
number of detached facilities that a
single bank may establish.
Minneapolis attorney Mary Cur
tin addressed the difficulties that
bankers might encounter when deal
ing with examiners and regulatory
agencies. She prefaced her remarks
by pointing out that: 1) It is a
federal offense to assault an ex
aminer. 2) Not all legal violations oc
cur in “bad banks.” 3) Regulators
are not infallible. On a more serious
note, she adds that often when a
banker faces some degree of enforce
ment action he feels isolated and in a
problem all by himself. She recommends that a banker should talk to
other bankers when facing personal
problems resulting from his dealings
with regulators. Often he may find
that many colleagues have had similar experiences and can offer some
support.
Ms. Curtin was adamant on her
advice relating to the procedures a
banker should take when issuing any
enforcement order from an agency—

•

_
^

Minnesota News

. .do not sign anything!” With the lin to assistant vice president and
® fines for violating a cease and desist trust officer; Linda M. Paulsen and
order at $ 1,000 a day, she suggests Carlotta C. Willard to assistant vice
immediately contacting an attorney president, sales, and Robert Palmwho has agency procedure experi- quist to assistant vice president.
New officers appointed were:
0 ence. She warns that once an order
w has been signed it becomes a bind Stephen J. Krmpotich, client ex
ing contract and the terms or ecutive; Steven Z. Kenner and
language cannot be negotiated. Patrick A. O’Brien, loan officers,
Bankers now face a rash of orders and Martin M. MacLean, trust op
-.which have been issued as a result of erations officer.
Alfred Wallace, president and
w recent major bank failures and often
will sign an order “to keep from chief executive officer of Blandin
making the regulator mad.” She Paper Company, has been elected to
went on to cite many instances the bank’s board of directors.
^w here the posture of the issuing
agency changed once the order was Mankato Director Elected
signed. She closed by emphasizing
David A. Besser, with Landkamer
to the bankers the need to under Brothers Company since 1957, has
stand their leverage in these situa been elected to the board of Norwest
t i o n s and confrontations.
Bank Mankato, N.A.
MBA Executive Vice President
Truman Jeffers used the conference
to unveil the newly formed Min Presidents Named
nesota Bankers Services, Inc. Owned
^ b y the MBA, the new company’s At Two Norwest Banks
Norwest Corporation recently an
first offering is a bank executive pro
gram that covers executive estate nounced the following changes at
conservation, stock redemption and four of its banks.
Wesley J. Hein has been elected
ownership continuity and executive
^ s a la ry continuation. Details on president and chief executive officer
these plans can be obtained by con of Norwest Bank
tacting the MBA offices. Other con St. Cloud, N.A.
ference speakers included NBC He will succeed
News C orrespondent D ouglas W. Merton Dres
®Kiker, University of Minnesota ser, who has re
Football Coach Lou Holtz, and Fi tired after 34
nancial Shares Corporation Presi years of service.
dent George Morvis.
□ Mr. Hein had
been serving as
p re sid en t and
* Redwood Falls Promotes Two CEO of Norwest
Norwest Bank Redwood Falls, Bank CalhounN.A., President Doug Bultman has
announced the promotion of Arlie
# Freiborg to assistant vice president
in agricultural loans and Gail Ripka
to assistant vice president in human
resources and marketing.
Mr. Freiborg joined the Redwood
—Falls bank after one year of ag lend
ing in Bemidji.
Ms. Ripka joined the staff in Red
wood Falls in 1977 and has served in
D.H. MONSON
D.R. NOACK
various capacities in proof, book
-keeping, teller and customer service Isles, N.A. in Minneapolis, a posi
areas of the bank.
tion he has held since 1979.
Dale H. Monson has been elected
president
and chief executive officer
Promoted and Elected
of Norwest Bank Albert Lea. He had
—At Norwest Bank Duluth
been serving as senior vice president/
Norwest Bank Duluth, N.A. has administration at Norwest Bank
promoted four officers, elected four Kalispell, N.A., Mont. Mr. Monson
new officers, and named a new direc- succeeds David R. Noack, who has
been named senior vice president/
M *or‘
Promoted were Thomas W. Conk loan division at the St. Cloud af

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Federal Reserve Bank of St. Louis

filiate.
Mr. Monson started with Norwest
in 1971 in LaCrosse, Wis., and was
vice president and manager of com
mercial lending at Norwest Bank
Bloomington, N.A., when he trans
ferred to the Kalispell bank in
January, 1981.
Mr. Noack has been president of
the Albert Lea bank since 1981, and
also served with Norwest affiliates
in St. Cloud, LaCross and with Nor
west Corporation in Minneapolis.

Acquisitions Approved
The Federal Reserve Bank of Min
neapolis has approved the applica
tions of the following bank holding
companies:
National City Bancorporation,
Minneapolis, to acquire Diversified
Discount and Acceptance Corpora
tion; Henderson Bancorporation,
Inc. to become a bank holding com
pany through the acquisition of The
Sibley County Bank, Henderson;
Midwest Bancshares, Inc., Edina, to
become a bank holding company
through the acquisition of State
Bank of Sleepy Eye; Bovey Finan
cial Corporation to acquire Bovey
Insurance Service and Herman First
National Agency, Inc. to acquire
The First National Bank of Herman,
and both to engage in general in
surance agency activities in com
munities with a population not ex
ceeding 5,000.

Rushmore Chairman Ends
65-Year Career With Bank
Del Shore, chairman of First
State Bank of Rushmore, has retired
after 65 years of continued service
to the bank as an officer and direc
tor.
Eugene A. Platt, vice president,
has been elected president.
Other staff changes include the
promotion of Craig L. Korkow, vice
president, to president of First
Rushmore Bancshares, Inc. Eunice
I. Ailts was promoted to assistant
vice president from cashier and Mar
jorie Boots was promoted to cashier.
Both of these two officers have been
in banking 19 years.
H.L. Mowry, staff member and di
rector for 50 years, has also re
signed. Elected to the board were
Laurence B. Hughes, partner in the
Worthington law firm of Brecht, Hedeen, Hughes and Wiltrout, and
Alvin D. Kooiman, vice president
and Worthington branch manager.
N orthw estern Banker, March, 1984

If your prim ary correspondent
doesn’t look com m itted
to your business^ take a look at
First B ank M inneapolis«

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Federal Reserve Bank of St. Louis

Commitment.
The kind that says we’ll be
responsive to your needs, no matter
what the changing environment
brings.
That’s what we’re all about at
First Bank Minneapolis, and maybe
that’s why more banks in the Upper
Midwest use us as their primary
correspondent than any other bank.
As other banks edge slowly
out of the correspondent banking
business, we move ahead with;

♦ the largest staff of professional
calling officers in the region so that
our primary respondents will see
their calling officer as often as
they’d like.
♦ a 30% increase in our data proc
essing staff so that we can handle
your needs more rapidly and
effectively.
♦ the kind of lending philosophy
that has allowed us to double our
correspondent bank loan portfolio
in the last four years.

So if you’re getting the idea
that we are the most committed
correspondent bank around, you’re
getting the right idea.

I k First Bank
Minneapolis
Correspondent Banking
Department
First Bank Place
Minneapolis, MN 55480
612/370-4762

We are what you want a correspondent bank to be.

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Federal Reserve Bank of St. Louis

Minnesota News

Joins Duluth Bank
E.L. “Bud” Ellefson, president
and chief executive officer of Miller
Hill State Bank,
Duluth, recently
announced the
hiring of Dennis
Ellefson, his son,
as vice president
of the bank.
Dennis Ellef
son has 11 years
banking experi
ence, beginning
D. ELLEFSON
w ith m an ag e
ment training at Airport State Bank
in Hermantown in 1972. In 1975 he
joined Northwestern National Bank
in St. Paul, returning to Duluth area
in 1976 with City National Bank of
Cloquet, where he has been since.

Appointed in New Brighton
First State Bank of New Brighton
recently announced the following
promotions and appointments:
James Faust has been promoted
to senior vice president. Mr. Faust
has served as vice president of the
loan department for the past two
years since joining the bank in 1981.
Dale Tennison has been hired to
serve as vice president of the data
processing center. Mr. Tennison has
been with the New Brighton bank
since November 21, 1983, when the
bank installed its new computer sys
tem.
Linda Wiome has been promoted
to assistant cashier. Mrs. Wiome
has served in different positions
with the bank for the past 20 years.
Carol Bartel has been hired to
serve as director of personnel and
marketing. She formerly was em
ployed by the suburban Chamber of
Commerce as a local executive direc
tor.
Lyla Hicks, currently vice presi
dent of investments, has been ap
pointed to the bank’s board of direc
tors. Her banking career spans 25
years.

Applications Filed
Minnesota State Bank of Caledo
nia has filed application with the
Comptroller of the Currency to con
vert from a state to a national char
ter under the proposed title of Min
nesota National Bank of CaledoniaHokah.
Digitized
forestern
FRASER
N orthw
Banker, March, 1S84
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Federal Reserve Bank of St. Louis

tion that provides an educational
forum for bankers serving the credit
needs of rural communities in the
Upper Midwest. Annual convention
sites rotate from state to state.
“Farm Policy and Export Policy”
is the theme for the 1984 conference.
Featured sessions will include “Poli
tical and Economic Realities for the
Three Appointments Told
1985 Farm Bill”; “Outlook for Ag
At First Bank Mankato
Exports: Implications for Farm In
Starr J. Kirklin, president of First come”; “Export Issues as Viewed
Bank Mankato, has appointed Terry by Buyers and Sellers”; and “ Im
L. Kakeldey, assistant vice pres proving Your Management Skills.”
ident and cashier; Frank M. Steichen, The last session is another in the
sales finance officer, and Constance popular series begun last year for
A. Bertrand, marketing and person UMACC members and spouses.
Bill Pick, UMACC president,
nel officer.
Ms.Kakeldey joined the bank in stated, “Plans call for a boat tour of
1979 as personnel officer. She had the harbor, plus tours of a water
front terminal elevator and the
been serving as
Duluth Port Authority Facilities.
personnel officer
The combination of tours, a strong
and cashier. Mr.
formal program and many tourist
Steichen served
attractions in and around Duluth
as adjuster at
will make the 1984 convention a
the bank prior to
must for ag lenders in the Upper
moving to a bank
Midwest.”
in Winston-Sal
em,, N.C., and
returned to First
Bank Mankato
Appointed in Richfield
in 1983.
Claire Hesterman has been appoint
ed vice president - human resources
of the Richfield
Bank & Trust
Co. James H.
Ryan has joined
the bank as direc
tor of market
ing.
Mrs. Hester
man joined the
F.M. STEICHEN
C.A. BERTRAND
bank’s staff in
Ms. Bertrand joined as a teller in 1967 and was
1974 and continues as a marketing promoted to per
sonnel officer in 1976.
officer, her most recent position.
Mr. Ryan’s background includes
Mr. Kirklin also announced the
11
years of consulting work, four
following changes: Richard M.
years
of general management and
Thomas, vice president and senior
four
years
of industrial marketing
commercial loan officer has been ap
pointed vice president and senior management.
credit officer. Valerie Holzhueter,
commercial loan officer, has been ap
pointed additional responsibility for Austin Promotions Announced
the community reinvestment act
The following promotions were
portfolio for First Bank Mankato.
announced by First Bank Austin
President William L. Connelly.
Patrick J. Bradley to vice presi
Ag Lenders to Meet in Duluth dent and Patricia J. Hyland and Col
The 1984 conference of the Upper leen V. Weimer to administrative as
Midwest Agricultural Credit Coun sistants.
Mr. Bradley joined the bank in
cil is scheduled for July 4-6 at the
Superior Street Holiday Inn, Duluth. 1979 as a real estate loan officer. In
UMACC is a 200 -member organiza his new position he will be responsi-

Application was also made by
First National Bank of Brewster to
open a branch at 229 10th Street in
Worthington; and by American Na
tional Bank of Brainerd to open a
branch at Hwy 371 South and
Spruce Dr. in Brainerd.

47
City correspondent bank invest
ment departments were by far the
most frequently mentioned outside
source of investment advice. About
5% of the total returned question
naires did not answer any portion of
Question 10 . Of the remaining 95%
who did complete some portion of it,
60% said they use the help of their
correspondent bank(s). Another
25.4% said they do seek or would
seek outside help from investment
firms and/or brokers. About 3.8%
said they use a private investment
counselor. The remainder mentioned
their CPA firms or turn to their
holding companies who handle the
investment portfolio. Other scattered
responses accounted for a smaller
percentage, and the balance of ques
tionnaires did not select any outside
source for the purpose of this sur
vey. (Chart No. 10.)
Minnesota News

^ ble for the commercial loan and real in 1981 and had 11 years of banking
^ e sta te loan departments.
experience.
Ms. Hyland joined in 1975 and
Mr. Luukkonen, formerly with
will be responsible for all discount Citizens State Bank of Big Lake,
brokerage services and share in the joined the Wayzata bank in 1981.
^adm inistration of the bank’s trust
Ms. Minnick has been in Wayzata
^function.
since 1968 bringing five years of
Ms. Weimer has been with the banking experience.
bank since 1975 as a teller, and since
Ms. Bradford, with the bank since
1979 as a personal banking assis 1974, most recently was auditor.
ta n t.
Ms. Arett joined last year and
formerly was with Touche Ross.

Promoted in Wayzata
Wayzata Bank & Trust has an^nounced the promotion of David
Boies to senior vice president and
trust officer; Brad Krohn to senior
vice president and senior loan of
ficer; Mark Luukkonen, vice presi#dent and cashier; Dawn Minnick,
vice president personnel, marketing
and public relations; Nancy Brad
ford, a ssistan t vice president,
manager of personal banking, and
#Sarah Arett, accounting officer.
Mr. Boies joined the staff in 1976
with 18 years of trust experience. He
manages the trust and investment
areas.
• Mr. Krohn started with the bank

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INVESTMENT SURVEY. . .
(Continued from page 19)

The second part of this question
asked “What % of your total in
vestments will be in such CDs?
“About one-fourth of the total ques
tionnaires had an answer to this por
tion and their average for the ques
tion was 6 .2 %.
Question 10
Chart No. 10
Q. Do you as a Community Bank “ If you now use outside
investment advice or man
executive have confidence in your agement in some way, please identify the kind of
own ability to determine what your individual or institution you use.”
investments should be, or are you
uncomfortable with this role? To
what extent would you seek or use
outside advice?
Of the total questionnaires re
turned, 17% did not complete all of
this question. Of those responding,
and who answered directly the ini
tial question, 91.4% said they have
confidence in their own ability to de
termine what the bank’s invest
ments should be, while 8 .6 % ack
nowledged they feel uncomfortable
A = C orrespon dent Bank
B = Investm ent firm
in this role (Chart No. 9).
C = Private Investm ent C ounsel
A second part of the question ask
D = O thers
ed “ If you now use outside invest
ment advice or management in some
way, please identify the kind of in
Another 32% said they do this
dividual or institution you use.’’
work “in-house.” In the latter
group, it was interesting to learn
that 47% who do the work “inChart No. 9
“ Do you as a Community Bank executive have
house” do it manually; 26% use a
confidence in your own ability to determine what
micro;
another 21 % uses another
your investments should be, or are you uncomfor
computer, and 6 % rely on internal
table with this role?” The chart below reflects
those who expressed an opinion as Yes for Con
use of an investment firm printout
fidence and No as being uncomfortable.
they process “in-house.”
Two bankers, one from Nebraska
and one from Minnesota, stated
they would like to attend an invest
ment school. The Nebraska banker
said: “would like to attend invest
ment type school that covers entire
spectrum of investments and theo
ries—maybe something that lasts a
week.” These up-dating and brushup courses are offered by ABA,
IBAA and other banking trade
groups.
□
N orthw estern Banker, March, 1984

and has been with Norwest since(
1978.
Mr. Bunkowske has worked in
various positions since joining Nor
west Bank in 1975.
I

Advancements Announced at
First Bank of South Dakota
First Bank of South Dakota, N.A.,

NABW State Conf. - March 22-24
HE SOUTH Dakota Chapter of
T
the National Association of Bank
Women will hold its state conference
March 22-24 at the Holiday Inn City
Centre, Sioux Falls.
Theme for the conference is “The
Professional Edge ... the difference
between performance and high perfor
mance ... between reacting and taking
charge ... between following the pace
and setting it.”
The program schedule follows:
Thursday, March 22
A.M.
9:00 State Council/Group Training
Session.
P.M.
12:00 Lunch.
1:00 Training sessions continued.
4:30 President’s meeting.
6:00 Registration.
7:00 Hospitality ... dinner on your
own.
Friday, March 23
A.M.
8:00 R egistration, continental
breakfast.
9:00 Opening.
Welcome.
Keynote Speaker: “Power of
Perceptions’’—Jan DeWitt,
GreenLake Conference.
10:30 Break.
10:45 General Session—“Regula
tion ... Who are The Players.’’
Speaker: Kay Landen, vice
president, Central Bank of
Denver Colo.
P.M.
12:00 Luncheon, Holiday Inn City
Centre.
Speaker: Nadine Frakes,
1983-84 North Central Regio
nal Director, Farmers, Bank,
Nebraska City, Neb.
1:30 Workshop—Betty Culhane,
certified teacher.
2:30 Break.
2:45 Workshop—Making Mergers
Work - The Human Dimen
sion— Kay Landen, vice
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orthw estern Banker , March, 1984
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Federal Reserve Bank of St. Louis

president, Central Bank of
Denver, Colo.
6:00 Social Hour, Westward Ho
Country Club.
7:00 Banquet, W estw ard Ho
Country Club.
Speaker: Randall Austad,
vice president, Austads.
Saturday, March 24
A.M.
9:00 City Tour.
11:30 Lunch and style show, Lafay
ette Restaurant.
P.M.
1:00 Group and state meetings,
Holiday Inn City Centre.
2:00 Adjournment.
□

Norwest Bank Black Hills
Announces Promotions
Charles T. Undlin, president of
Norwest Bank Black Hills, N.A.,
Rapid City, has announced the fol
lowing promotions after the January
meeting of the board of directors:
Jack Holzberger, currently vice
president/manager of Norwest Bank
Black Hills, Hot Springs, has been
appointed vice president/manager of
Norwest Bank Sioux Falls, Mitchell.
Duane Bunkowske, who at present
is assistant vice president in the in
stallment loan department in Rapid
City at the main office, will replace
Mr. Holzberger as vice president/
manager in Hot Springs.
Mr. Holzberger began his banking
career in Great Falls, Mont., in 1968

J. HOLZBERGER

D. BUNKOWSKE

J.R. EIKANGER

D.A. SHERMAN

M.J. SNYDERS

J.L. MULLIGAN

Ronald E. Brue has been elected
president of First Bank Rapid City
and western division head. He suc
ceeds Reynold Klay, who retired
January 31 of this year.
^
Mr. Brue started his banking ca
reer in 1964 as a trainee at First Bank
St. Paul. In 1973 he transferred to
First Bank System and served as vice^
president in charge of the loan par
ticipation and allocation department.
Mr. Brue joined the Rapid City bank
in 1981 as vice president and second
officer and was elected senior v ic ^
president in 1983.
Also at First Bank Rapid City,
Gregory J. Jorgensen has been named
assistant vice president, operations
officer. He joined First Bank Systerr^
in 1976 as a regional auditor.

South Dakota News

Other announcements include the
® promotion of John R. Eikanger to as
sistant vice president, First Bank
Madison. He joined that bank in 1979
and in 1980 was promoted to loan of_ ficer.
^
David A. Sherman has been elected
assistant vice president, administra
tive services, in Sioux Falls, and
Michael J. Snyders has been elected
^ re ta il banking officer, Sioux Falls
m Sunset Branch.
Mr. Sherman, who will be assum
ing the position of marketing man
ager, started with First Bank System
^ in 1982 and has been serving as the
agricultural product manager for the
regional marketing division of First
Bank System.
Mr. Snyders has most recently
^been serving as the Sioux Falls
branch manager for Conservative
Mortgage Company, a Minneapolis
based mortgage lending company.
John L. Mulligan, chairman and
^C EO of American Western Corpora
tion, has been elected to the board of
First Bank of South Dakota.

Salem President Retires
Alex B. Knox has been named
president of The McCook County Na
tional Bank, Salem, He succeeds Har
vey E. Eichinger, who has retired
after 45 years in banking, 33 of which
^were in Salem.
Mr. Knox has been in banking 16
years and has been with the Salem
bank since 1981 as executive vice
ipresident.
* Mr. Eichinger, a South Dakota na
tive, is a graduate of the Minnesota
¡School of Business in Minneapolis and
the Graduate School of Banking in
.Wisconsin. He joined the bank in
~L951 and was named president in
1976. An open house and banquet
were held in Mr. Eichinger’s honor.

SDBA Ag Credit Conf. - April 11-12
INGS INN Convention Center in
K
Pierre will be the site for the 1984
Agricultural Credit Conference spon
sored by the
South D akota
Bankers Associa
tion, April 11-12.
Featured
speaker for the
convention is
former Secretary
U .S. D e p a r t
ment of Interior
James G. Watt,
J. WATT
who will talk
during the second day of activities.
The program follows:
Wednesday, April 11
A.M.
9:00 Registration.
10:00 Call to order.
Keynote Speaker: Dr. Clay
ton Yeutter, president, Chica
go Mercantile Exchange, Il
linois. “W hat’s Best for
Agriculture in The Long
Term.’’

11:30 Luncheon.
Speaker: Dr. John Marten,
economist, The Farm Jour
nal, West Lafayette, Ind.
“Agricultural Outlook.’’
P.M.
2:00 Dr. Michael Boehlje, pro
fessor of economics, Iowa
State University, Ames,
Iowa. “Cash Flow Lending.’’
4:00 Adjournment.
5:00 Reception.
6:00 Buffet dinner.
Thursday, April 12
A.M.
8:00 Buffet breakfast.
9:00 Call to order.
James Watt, former Secre
tary, U.S. Department of the
Interior, Washington, D.C.
“Agricultural Financial and
Economics Scene.”
10:30 Dave Waldren, president,
Financial Designs, Ltd.,
Kearney, Neb. “Microcom
puters in Banking.”
12:30 Adjourn.
□

^Directors Elected
Valley National Bank of Sioux
Falls recently elected Mary K.
Judge, director of education in nurs
ing, Mitchell, S.D., and Warren R.
^D ay , executive officer of South Da
kota Association of Realtors, to the
bank’s board of directors.

Edgemont Bank Moves
#Main Office to Custer
The State Banking Division re
cently approved the application of
Southern Hills Bank, Edgemont, to
-change the location of its main office
"fro m Edgemont to Custer.

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Largest Banks in South Dakota
EPOSITS and loan fig u re s fo r S outh D akota banks re p o rtin g
d e p o s its o f $50 m illio n or m ore at year-end are show n in the ch a rt
below . C o m p a ra tive fig u re s from a year ago are featured.

(Last three figures omitted)

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.

Citibank, N.A., Sioux F a lls ...................
First Bk. of South Dakota, N.A.1...........
Norwest Bank Sioux Falls, N.A.2 .........
Norwest Bank Black Hills, N.A.3...........
Norwest Bank Aberdeen, N.A.4.............
First Sioux F alls....................................
Western State Bank, Sioux F a lls .........
United National Bank, Sioux F alls.......
BankWest, N.A., P ie rre ........................
Farmers & Merchants Bank, Huron
Norwest Bank Watertown, N.A..............
Commercial Bank, Mitchell .................
First Natl., Brookings..........................
F&M Bank & Trust, Watertown.............
American State, Y a nkton .....................
Valley National Bk., Sioux F alls...........
Bank of Belle Fourche..........................
Farmers State Bank, Winner.................
Farmers & Mer. B&T, Aberdeen...........

December 31, 1983
December 31, 1982
Deposits
Loans Deposits
Loans
$2,191,285 $3,727,837 $1,456,246 $2,684,414
966,456
783,618
584,344
433,077
606,192
365,652
498,496
319,716
352,090
226,896
323,823
196,693
322,906
227,497
297,283
208,141
177,735
115,998
166,886
100,084
155,830
100,988
94,758
67,020
129,796
68,447
150,448
92,093
100,107
71,680
84,575
54,019
91,642
38,231
83,078
35,580
99,440
59,048
91,662
59,708
97,234
56,679
95,502
56,148
94,294
62,022
86,808
62,767
81,200
41,433
76,939
43,530
80,336
37,222
77,378
41,448
73,927
31,181
62,994
28,603
69,947
25,954
62,725
28,346
67,595
41,038
63,326
34,449
51,724
37,945
48,239
35,981

1AlI First Bank banks in South Dakota, with the exception of First State Bank of Highmore, were merged with First Bank of South Dakota, N.A. The figures above include those
of First Bank - Aberdeen, which was listed separately on last year’s chart.
2First Mitchell National, which was listed separately last year, was purchased by
Norwest Bank Sioux Falls, N.A.
fo rm e rly First National Black Hills, Rapid City.
4Formerly First National, Aberdeen.

N orthw estern Banker, March, 1984

ford City, has advanced Vicki Karp-^
yak to instalment loan officer;
Gloria Leatherberry to assistant
cashier - bookkeeping; Anita Quale
to assistant cashier - general ledger,
and Janice Koeser to assistant cash-^
ier - head teller.

V.P. Named in Jamestown

Clair L. Baker has been named
vice president and personal banking
Gary Fisher has been promoted to officer of Nor
west Bank James
Gary A. Flaa has been elected assistant vice president at Norwest town N.A. The
chief executive officer and president Bank Grafton, N.A., in charge of the an n o u n cem en t
of Norwest Bank Mandan, N.A. He real estate department.
He began his banking career in was made fol
succeeds J.E. Noonan, who was
low ing
th e
elected chairman. At the same time, 1973 as a bookkeeper and was instal b a n k ’s annual
Bradley P. Charnholm was elected ment loan manager before taking on m e e tin g held
to the board; Kevin Perrizo was pro the responsibilities of real estate late in January.
moted to senior vice president and lending.
Mr. Baker has
cashier/consumer group, and Wade
been in banking
Elder was promoted to assistant Watford City Advances Four since 1955 and
C- BAKER
vice president/consumer loans.
First International Bank, Wat- started with Norwest Bank in 1964.4
Mr. Flaa joined Norwest Corpora
tion in 1961. Before moving to Man
dan in 1976, he was vice president of
Norwest Bank Northfield and cash
ier at Norwest Bank Silver Bay,
both in Minnesota.
EPOSIT and loan fig u re s fo r N orth D akota banks re p o rtin g $50
Mr. Charnholm is president of the
m illio n or m ore d e p o s its are show n in the ch a rt below as reported at
Ellis Agency, Inc.
year-end. C om p a ra tive fig u re s fo r a year e a rlie r also are reported.
Mr. Perrizo joined Norwest Cor
(Last three figures omitted)
poration in 1970 as a field auditor.
December 31, 1983
December 31, 1982
Before moving to Mandan in 1979
Loans
Loans Deposits
Deposits
he was controller of Norwest Bank
$477,239 $283,826 $528,993 $354,195
1. Bank of North Dakota, Bism arck.........
Fargo, N.A. Mr. Elder joined the
115,667
155,804
169,691
191,884
2. First Bk. of N. Dakota, F a rg o ...............
95,000
164,900
128,105
171,235
bank in 1980 as instalment loan of 3. First Bank, Bismarck............................
72,676|k
129,562
73,268
160,000
4. First Natl. Bk, Grand Forks...................
ficer, and previously was with AVCO
138,754
87,508**
95,898
148,943
5.
Norwest
Bk.,
Minot,
N.A.1
.....................
Finance Services.
87,007
99,064
112,567
137,753
6. Norwest Bk. Fargo, N.A.2.......................

Mandan President Named
Others Elected, Promoted

Grafton Promotion Told

Largest North Dakota Banks

Fargo Promotions Announced
Tim V. Stern, president and chief
executive officer of Norwest Bank
Fargo, N.A. has announced the pro
motion of Pat Sandvik, assistant
vice president and manager of the
West Bank; Dona Durbin to assis
tant vice president in accounting,
and Michael Vipond to ag finance of
ficer.
Ms. Sandvik began her banking
career in 1972 in Kirkland, Washing
ton. She joined the Fargo bank in
1975, most recently serving as assis
tant manager at the West Bank lo
cation.
Ms. Durbin began her banking ca
reer in Wadena, joining the Fargo
bank in 1972.
Mr. Vipond joined the bank in
1982 as a regional credit trainee.
DigitizedN orthw
for FRASER
estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.

Dakota B&T, Fargo ..............................
Fargo Natl. B & T ....................................
American State Bk., W illiston...............
First American B&T, M in o t...................
Norwest Bk. Mandan, N.A.....................
First Bk. of N.D., Grand Forks...............
First Natl. B&T, Williston .....................
First Bk. of N.D., M in o t........................
Norwest Bk. Jamestown, N.A.3.............
First Bk. North Dakota, Jamestown
Liberty Natl. B&T, Dickinson ...............
First American B&T, Grafton ...............
Valley Bank & Trust, Grand F o rk s .......
State Bk. of Burleigh Cnty., Bismarck ..
First Natl. B&T, Bottineau.....................
First Western St. Bk., M in o t.................
Norwest Bank Grafton, N.A.4 ...............
First Natl. B&T, Dickinson ...................
Norwest Bk. Wahpeton, N.A.5...............
Norwest Bk. Valley City, N.A.................
Foster County B&T, C arrington...........
First Bk. of North Dakota, Wahpeton ..
First Natl. Bank of Bowman.................
’ Formerly First Natl., Minot
fo rm e rly First Natl. B&T, Fargo
3Formerly First Natl., Jamestown
4Formerly First Natl., Grafton
fo rm e rly First Natl., Wahpeton

123,995
116,152
110,895
99,967
94,159
91,733
90,992
82,221
77,624
74,744
68,053
66,207
64,489
62,204
61,605
57,753
57,722
57,206
56,602
55,984
51,585
51,545
50,783

99,541
80,230
63,472
62,333
71,245
53,942
49,254
63,403
44,109
45,437
38,710
39,477
28,552
39,740
23,128
37,983
32,363
30,052
32,123
31,618
30,197
46,099
20,241

95,883
103,237
103,500
87,506
85,030
82,274
79,007
71,015
73,339
67,234
64,062
62,856
50,678
58,169
55,728
55,066
51,110
62,856
52,785
48,718
48,145
46,415
48,866

75,247
67,626
62,965
53,75&k
60,611W
56,561
44,169
49,846
46,091
43,37^,1
34,59d ^
36,610
28,150
36,629
21,203
36,098^
31,66™
37,075
31,402
32,695
29,045
36,82-U
18,85™

North Dakota News

BANK or North Dakota President Herb Thorndal welcomes Attorney General Robert Wefald,
Governor Allen Olson and Agriculture Commissioner Kent Jones to the Mid-Winter Break.

Bank of North Dakota Mid-Winter Break
By STEVE BURCH
Associate Publisher

ANK PRESIDENT Herb ThomB
dal welcomed nearly 200 bank
ers and their spouses to the annual
Bank of North Dakota Mid-Winter
4H Break. Held in Bismarck each Feb

ruary, Mr. Thorndal reported the
sessions are conducted to “...give
bankers in North Dakota an expo
sure to new theories in the business
of finance, new practices that are be
ing adopted in other parts of the
country, a perspective on events and
circumstances that will affect their
business this year and an update on
financial law.”
All three members of the North
Dakota Industrial Commission,
Governor Allen Olson, Attorney
General Robert Wefald and Commissioner of Agriculture Kent Jones
were also on hand to welcome the
bankers to the conference. The three
were unanimous in their praise for
the independent attitude of the
Bank of North Dakota and in its ef
fort to provide the wherewithal to
lending institutions to work with
local agriculture producers and ran

chers. Governor Olson noted the
good working relationships that the
bank has with ag lenders thru the
correspondent banking department
and commented that “...agriculture
is the only world class industry left
in the U.S.”
“Agriculture Banking and Fede
ral Policy: The Challenging Period
Ahead” was the topic addressed by
Tom Olson, president of Lisco State
Bank, Lisco, Nebraska. He also
serves as chairman of the Agricul
ture-Rural Committee of the Inde
pendent Bankers Association of
America and recently chaired an Ag
riculture Finance and Rural Devel
opment task force for Nebraska
Governor Bob Kerrey. Due to the
similarity of Nebraska and North
Dakota, Mr. Olson shared the task
force recommendations with the
bankers.
“The task force concluded the
sources of financing are available,
but profitability was a more im
mediate concern. Their approach
was that strong markets for Nebras
ka’s agriculture commodities would
have positive implications for pro
ducers, the communities and the

state. Therefore, we are going to re
commend that an emphasis be placed
on developing and financing agricul
ture processing enterprises within
the state.”
He went on to discuss the 13 sug
gestions submitted to the Governor
by the task force. These included: 1.)
Encouraging greater participation
in the 1984 farm program with
slight improvements in the benefits.
2.) Formation of a state association
representing various commodity
groups, farm organizations and gov
ernment ag agencies. 3.) Initiate im
mediately a farm financial, manage
ment, education, and consultation
program. 4.) Expand ag research
and product development. 5.) Deal in
a forthright manner to significantly
reduce the national deficit.
“The rural development commit
tee concluded that practically all of
us have had roots reaching back to
cultures long established and rich
with values recognizing the impor
tance of rural communities and the
need for change in government poli
cies which would encourage and sup
port healthy communities. Such pol
icies must reflect that without the
strength and values engendered by
healthy communities, economic
gains will be hollow victories.”
Turning to the national level, Mr.
Olson commented on his concerns
for the expansion of a sound FmHA
guaranteed loan program. “Our
banks generally have plenty of
funds for lending to agriculture, and
rather than the FmHA taking on
more and more farm borrowers di
rectly, there would seem to be little
reason why FmHA does not merely
offer to guarantee more loans made
by the commercial banks. I was es
pecially pleased to learn that De
puty Secretary of Agriculture Frank
Naylor has recently designated $550

Ruben Sailer, sr. v.p., and Bob Caudel, sr. v.p., both with Bank of North Dakota, visit with speaker Tom Olson, pres., Lisco St. Bk., Lisco,
Neb. RIGHT—Conference speakers included: State Banking Commissioner Marilyn Foss; Dr. William Dando, Univ. of No. Dak., and Gail
Martell, E.F. Hutton Commodity Dept.

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N orthw estern Banker, M arch , 1984

North Dakota News

million of the $600 million authority
which the FmHa is using for eco
nomic emergency loans specifically
for loan guarantees. In other words,
only $50 million of the $600 million
could be used by the agency for di
rect loans. This loan guarantee
authority is available now, for the fi
nancing of 1984 farm production
and I hope that we will make full use
of authority.” Banks can obtain in
formation and apply for these loan
guarantees at local FmHA offices,
he added.
The IBAA Ag Committee is also
greatly concerned with the deregula
tion of interest rates. He suggests
that “...agricultural lending around
3 per cent above prime may become
the norm, based upon our increased
costs of money.” He referred to the
USD A figures which show that in
1982 total interest paid on farm debt
almost precisely equaled total net
farm income. Both were $22 billion,
he reported.
Mr. Olson closed by expressing
his additional concerns on the
“macroeconomic” issues of the ex
port market, the value of the U.S.
dollar, the federal budget deficit and
the future of farm policy delibera
tions.
State Banking Commissioner
Marilyn Foss gave a “bullish” re
port on the advantages of banking
“North Dakota style.” She said that
the local bankers have excellent rela
tionships with their customers. Re
ferring to the growing competition
for deposit dollars, she said “North
Dakota may not be a money market
center, but many people are certainly
interested in North Dakota dollars.”
She urged the bankers to advise
members of their communities that
money leaving the state to “800
number” money market funds will
not be available for local loans. She
went on to compliment the bankers
on doing a good job of out compet
ing the out of state “big banks.”
The three day conference featured
a variety of speakers with topics
ranging from improved manage
ment skills and the workout of prob
lem loans to the history of weather
in North Dakota.
□

NDBA Legislative Trip - April 2-4
HE dates of April 2-4 have been
T
selected for this year’s North Da
kota Bankers Association Legisla
tive and Administrative Conference.
Headquarters for the NDBA will be
the L’Enfant Plaza Hotel.
As in past years, this trip will pro
vide North Dakota bankers a unique
opportunity to hear from those close
to the source about Federal legis
lative proposals and regulatory
changes being considered for the fi
nancial community, and to express
their opinions and concerns on these
issues.
The preliminary conference itine
rary follows:
Monday, April 2
Travel to Washington on your own.
Tuesday, April 3
A.M.
8:00

O p tio n al
tours.

W hite

H ouse

Staff Changes Announced At
First American Minot
First American Bank & Trust of
Minot has announced the following
staff changes:
Alfred C. Gust has been promoted
to executive vice president. He
started with the bank in 1956, most
recently as senior vice president.
Fred Visina has joined the staff as
D.W. MATTERN
M. MELBY
vice president of the commercial
credit department. He had been with
First Western Bank of Minot with
nearly 14 years experience.
Dale W. Mattern has been named
assistant vice president and cashier.
He started with the bank as an audi
tor in 1970.
Mark Melby has accepted the po
sition of assistant vice president of
the commercial credit department.
J. SPITZER
J. OMMEN
®
He comes from First State Bank of
stalment
loan
officer.
He
joined
the
Apple Valley with 10 years experi
bank in 1979 as insurance agent be
ence.
Jerry Spitzer has been named in- fore moving into the consumer cred
it department.
_
Also at the bank, James Ommen,
owner and manger of Harry’s Tire
Service, has been elected to the board.

Applications Approved

One Promoted in Grafton
Norwest Bank Grafton, N.A.
recently announced the promotion
of Gary Fisher to assistant vice
president.

N orthw
estern Banker , March, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

9:00 American Bankers Associa
tion dialogue.
P.M.
12:15 Luncheon meeting and brief- #
ing with officials of a regula
tory agency.
2:30 Federal Reserve System
briefing.
5:30 Reception for North Dakota 0
Congressional delegation
and staff, Senate Office
Building.
A.M. Wednesday, April 4
8:00 O p tio n al W hite H ouse®
tours.
8:00 Breakfast meeting and brief
ing with FDIC officials.
10:00 Comptroller briefing.
^
11:30 Luncheon meeting and brief
ing with officials of a regula
tory agency.
Afternoon - Free for visits to offices
of the North Dakota Congressional ^
delegation or sightseeing.

A.C. GUST

F. VISINA

•

The Federal Reserve Bank of Min
neapolis recently approved the fol
lowing applications:
F irst N ational C orporation, q
Grand Forks, to become a bank

holding company through the acqui
sition of First National Bank in
Grand Forks: First Harvey Bancorporation, Inc., Harvey, to become a
bank holding company through the
acquisition of First State Bank of
}Harvey, and Fessenden Bancshares,
Inc., Fessenden, to become a bank
holding company through the ac
quisition of First National Bank of
.Fessenden.

president of Vopatek and Associ
ates, Inc. He will be presenting a
seminar on the “ Impact of Style and
The North Dakota State Confer Performance” on Thursday after
ence of the National Association of noon and an evening presentation
Bank Women will be held April entitled “Overcoming Resistance to
26-27 at the Ramada Inn, Grand Change.”
For more information on the con
Forks. Theme for this year’s confer
ference, contact Jean Straub, con
ence is “The Professional Edge.”
Keynote speaker for the confer ference chairman, First National
ence will be Michael J. Vopatek, Bank in Grand Forks.

NABW State Conference,
April 26-27 in Grand Forks

executive vice president and a
member of the board.
Mr. Cowan, joined the bank in
1979 after retiring from the U.S. Air
Force, will assist the president in all
areas of banking management as well
as continuing his duties as senior
loan officer.

Promoted in Riverton
Promoted in Torrington
♦

Citizens National Bank and Trust
Company of Torrington has pro
moted Ron Russell to assistant vice
president and Wanda Stienmetz to

American National Bank, River
ton, President John R. Benesch re
James Cowan, senior vice presi cently announced the promotions of
dent in charge of loans at First Na Bruce L. Brimmer to senior vice
tional Bank and Trust Company of president and Betty L. O’Donley to
Wyoming, Cheyenne, has been named assistant vice president.

Advanced in Cheyenne

Larqest Banks in Wyoming

Bank of commerce, Sheridan
Announces Promotions
Bank of Commerce, Sheridan, has
♦announced the promotion of Ronald
L. Ostermiller to senior vice presi
dent in charge of commercial loans.
He has been with the bank five years
and has been in banking 16.
• Also announced, Larry Cooper,
Rose Marie Madia and Mabelle Ruff
have been promoted to assistant
vice president.
Mr. Cooper has been with the
♦bank five years, working in the cash
ier’s department and as a loan of
ficer for the past four years.
Ms. Madia started her banking
career over 35 years ago, having
♦worked in the operations areas of
the bank and most recently as loan
officer.
Ms. Ruff has been with the bank
11 years and as a loan officer the
♦ p a st seven.

Joins Worland Staff
Howard L. Harris has joined the
*staff of Stockgrowers State Bank,
Worland as commercial loan officer.
He previously was audit manager
in charge of credit quality evalua
tion and special credit at Colorado
National Bankshares, Inc.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

EPOSIT and loan fig u re s fo r W yo m in g banks re p o rtin g d e p o s its of
$40 m illio n or m ore at year-end are show n in the ch a rt below . C om
para tive fig u re s from a year ago are featured.

(Last three figures omitted)

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.

First Interstate, Casper........................
Wyoming Natl., Casper........................
Stockmen’s B&T, G ille tte .....................
Rock Springs N a tl................................
First Natl. B&T, Cheyenne ...................
American Natl., Cheyenne...................
First Interstate, Laramie.......................
Bank of Commerce, Sheridan...............
First Interstate Bank, Riverton.............
First Natl. Bank, G ille tte .......................
First Natl. Bank, Powell........................
First Natl., Sheridan ............................
First Wyoming Bank-Cody...................
Jackson State Bank..............................
First Wyoming Bk. N.A., Cheyenne . . . .
Shoshone First Natl. Bank, Cody.........
Converse County Bk., Douglas.............
Stockgrowers State Bank, Worland
First Natl. Bank, Evanston...................
Rawlins Natl. B a n k ..............................
Hilltop Natl. Bk., Casper.......................
First Wyoming-Evanston .....................
First Wyoming Bank, L an de r...............
Citizens Natl. B&T, Torrington.............
American Natl., Riverton.......................
First Wyoming Bk. N.A., Kemmerer
Bank of Laramie....................................
North Side State, Rock S prings...........
First Natl., W orland..............................
First Wyoming Bank, C asper...............
First Security Bk., Rock Springs...........

December 31, 1983
Loans
Deposits
$273,204 $188,364
222,544
114,371
166,158
115,746
30,991
113,048
69,028
104,588
64,467
102,244
49,317
95,179
94,520
55,999
66,098
89,079
31,171
88,435
75,302
40,496
48,085
71,311
39,340
69,069
65,537
46,655
63,724
46,422
23,688
63,601
62,794
25,261
32,697
59,051
58,097
22,950
31,472
57,990
43,177
55,734
29,135
52,200
25,269
51,523
47,694
38,370
32,094
47,419
47,257
28,236
46,440
26,888
15,946
45,489
44,896
25,645
25,629
43,563
25,927
42,740

December 31, 1982
Loans
Deposits
$263,878 $183,441
163,398
245,756
111,174
153,239
102,693
34,698
62,380
98,636
60,836
94,851
92,147
43,483
79,574
47,849
59,559
80,826
31,753
81,055
33,152
67,236
41,667
61,222
32,848
62,914
43,806
58,328
56,739
38,919
20,516
58,631
62,187
26,325
30,012
55,570
21,083
54,429
29,536
51,180
82,002
28,996
28,694
50,063
24,772
48,643
36,491
47,200
32,594
44,702
53,711
37,859
23,253
42,503
15,623
44,225
25,427
40,592
32,607
44,017
28,663
45,065

N orthw estern Banker, March, 1984

R. Sizemore, pres., Chinook
J.T. Cadby, exec, v.p., Helena

Elections Announced at
First Bank Billings
First Bank Billings elected the fol
lowing personnel at its annual meet
ing:
Ken Jacobson,
Doug Aden and
Lee Jockers, sen
ior vice presi
dents; M orrie
Danielson, Tom
M anning and
L auri H ansen
Reiter, vice pres
idents, and Thalia
K. JACOBSON
Sucharda, opera
tions officer.
Mr. Jacobson’s career spans over
35 years with First Bank System,
beginning with the Red River Na
tional Bank of Grand Forks, N.D.,
now First Bank Grand Forks. He
presently manages the administra
tive and control division and also
serves as secretary to the board.

of First Bank’s commercial banking
group.
Mr. Jockers was originally
employed by First Bank System in
1963 in Livingston as a bank trainee.
He most recently was manager of
First Bank’s retail bank division, a

position he was promoted to in 1978^
Mr. Danielson is manager hi
charge of the EDP operations and
systems department. His career
with First Bank System began in
1954 when he joined First BanW
Rolla, N.D.
^
Mr. Manning, manager of human
resources services and training de
partment, joined the staff in 1974 as
manager of personnel.
q
Ms. Reiter is the bank’s comptrol
ler and manager of the financial ad
ministration department. A CPA,
she started with the bank in 1980.
Ms. Sucharda manages the bank’s ^
credit and electronic banking opera
tion and has been in Billings since
1970.

Acquisition Completed

L.H. REITER

T. SUCHARDA

First Hysham Holding Company
recently received approval from the
Federal Reserve Bank of Minneapolis
to acquire The First National Bank^
in Hysham and to engage in general
insurance activities in a community
with a population not exceeding
5,000. First National Bank in Hy
sham has deposits of $8.8 million. I

Largest Banks in Montana
EPOSIT and loan figures for Montana banks reporting $50 million or
D
more deposits are shown in the chart below as reported at year-end.
Comparative figures for a year earlier also are reported.
(Last three figures omitted)

D. ADEN

L. JOCKERS

M. DANIELSON

T. MANNING

Mr. Aden began his career in Bil
lings in 1970 as a management train
ee. His current position is manager
N orthw
estern Banker, M arch , 1984

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.

First Bank N.A., B illin g s .............
Security Bk. NA, B illings.............
First Natl., Great Falls.................
Norwest Bank Billings, N.A..........
Norwest Bk. Great Falls, N.A.......
First Bk.-Western Montana, N.A. .
First Interstate Bk. of Kalispell ..
First Bank—B u tte .......................
First Bank Bozeman ...................
First Natl., Anaconda .................
First Security, Bozeman.............
First Natl. Montana Bk., Missoula
First Interstate Bank, Great Falls
Norwest Bank H elena.................
First Bank H ele na .......................
First Security B&T, Miles City
Norwest Bank Kalispell, N.A........
First Bank Havre ........................
First Natl., Miles C ity...................
First Natl., Lewistown.................
Shelby First State Bank .............
First Citizens Bank, B illin g s.......
Norwest Bank, Lewistown .........
Richland Natl. Bk., Sidney .........
First Natl. Bank, Glendive...........
Farmers State Bank, Conrad . . . .
First State Bank, F o rsyth ...........

December 31, 1983
Deposits
Loans
$245,972 $240,423
225,553
184,345
179,415
144,346
177,509
141,921
134,738
105,176
114,464
75,841
111,832
67,340
111,382
39,973
103,280
83,883
102,316
59,688
101,528
74,035
100,639
65,419
100,397
64,956
95,319
61,196
92,585
65,168
45,827
79,130
78,576
53,858
77,464
57,726
76,841
63,550
71,447
56,617
66,463
40,075
64,541
42,464
58,464
46,961
55,181
30,188
36,149
53,006
21,710
52,298
51,575
32,965

0
December 31, 1982
Deposits
Loans
$231,987 $227,483
230,586
151,896
158,766
118,817a
156,493
130,903
119,091
88,805
109,562
68,706
98,928
68,277
111,574
61,398
72,844a
100,984
95,984
44,312
84,409
60,574
94,882
64,297
87,056
59,949
50,814
83,930
90,204
72,836a
73,629
40,876
75,631
51,299
67,812
57,852
74,101
51,100
54,142
64,213
52,671
33,074a
44,763
36,855
54,642
39,260
51,650
30,839
50,147
35,721
47,366
19,723
40,199
28,7180

agricultural and commercial loan of
Carl B. Bear has joined the staff ficer; and Weston H. Rhodes to as
of First Bank Bozeman as vice presi sistant vice president and real estate
and agricultural loan officer.
dent, according
Douglas L. Poulsen has joined the
to Harry W. Newbank’s
staff as an assistant cashier
ill Ion, president.
and
loan
officer. He replaces Law
Mr. Bear has
rence E. Black, who retired Decem
worked over 18
ber 31, 1983.
years in the bank
ing in d u s try ,
Thomas Farris Named CEO
# s ta r tin g w ith
At Norwest Bank Billings
Provident N a
tional Bank in
Thomas H. Farris has been named
MM
Philadelphia in
chief
executive officer of Norwest
C.B. BEAR
1965. In 1978 he
Bank, Billings,
• joined First Valley Bank in Bethle N.A. A1 Winehem, Penn., and most recently served gardner will re
that bank as senior vice president main as chair
and lending division manager, posi man and Warren
tions he was named to in 1983.
V aughan will
continue as vice
chairman. The
Three Promotions, One
bank also pro
Addition in Hamilton
moted William
Citizens State Bank, Hamilton re P. Beatty to vice
T.H. FARRIS
c e n t l y announced the following pro p re sid en t and
motions: Robert W. Talbot to vice controller and Gregory W. Field has
president and senior loan officer; K. been elected agricultural banking of
Fred Reeves to vice president and ficer.

^ Joins Bozeman Staff

Mr. Farris has been president of
the bank since June, 1983. He was
executive vice president of Norwest
Bank Des Moines, N.A. prior to
coming to Billings last year.
Mr. Beatty has been with the
bank since 1982 as chief financial of
ficer and controller. Prior to that he
was a financial analyst for Norwest
Corporation in Minneapolis.
Mr. Field joined the bank in 1981
as a regional ag credit trainee.

Three Named in Glasgow
First National Bank in Glasgow
has named Donna Cole as real estate
officer; Dawna Heath to assistant
cashier, and Lori Viste to instalment
loan officer.
Ms. Cole began her career as a tel
ler in the bank in 1968 and moved to
the real estate department in 1975.
Ms. Heath has been with the bank
since 1968, first as a teller and since
1971 as bank accountant.
Ms. Viste began her career at the
bank in 1976 as a computer opera
tor. She has worked in the instal
ment loan department since 1980.

Sixteen Promoted at
United Bank of Denver

N.M. Dean, pres., Greeley
. D.A. Childears, exec, mgr., Denver

N.
president and trust officer. New of
ficers include Lynne A. Streetman,
Hi R. Bruce Robinson has been elect marketing,
and Glen A. Kaiser, au
ed president of Colorado National ditor.
B ank - Glenwood, Glenwood
Ralph E. Nelson, senior vice presi
Springs. He replaces William T. dent, has retired.
Sesson, who has been elected presi•d e n t of Colorado National Bank - Or Denver National Names Two
chard Mesa, Grand Junction.
Denver National Bank recently
Mr. Robinson has held manage promoted John M. Bolognini to cor
ment positions at banks in Glen respondent banking officer and ap
wood Springs, Grand Junction and pointed Joseph P. Mantelli to assis
•A spen.
tant vice president, energy lending.
Mr. Sisson succeeds Richard WitMr. Bolognini joined the bank in
sken as president in Grand Junction. 1982 as senior credit analyst. Prior
Mr. Witsken resigned to pursue to that he was with Bank Building
other business opportunities. Mr. and Equipment Corporation of
•Sisson has served as president in America as senior program analyst
Glenwood Springs since 1971.
for five years.
Mr. Mantelli, who most recently
Promoted in Denver
was with another Affiliated bank,
^ Colorado State Bank, Denver, has joined Denver National as assistant
promoted John E. Lawrence to vice vice president in energy lending.

Glenwood Springs Election

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Federal Reserve Bank of St. Louis

United Bank of Denver’s chair
man and CEO Richard A. Kirk has
announced the following promotions:
Appointed to the position of vice
president were Gregory L. Glissmann, Susan K. Rogers Kark, Kirby
D. Martin, H. Allen Rheem, Jr., and
Sally E. Thompson.
Robert M. Beck, Donald K.
Dodge, Cynthia M. Dohse, James F.
O’Meara, David L. Pitts and Connie
R. Stearns were promoted to the po
sition of assistant vice president.
Also promoted were Robert F.
Bardwell, Jr., Carol L. Buchenroth,
John O. Haroldson, Lizabeth A. Lip
scomb and Arthur F. Simmons to of
ficer positions.
Mr. Glissman joined the bank in
1978 and is on staff in real estate
banking.
Ms. Kark came to United Bank in
March, 1972, and is director of pub
lic relations.
Manager of the facilities manage
ment activity, Mr. Martin joined the
bank in 1979.
On staff in energy and minerals,
Mr. Rheem joined United Bank in
January of this year.
Ms. Thompson began her employ
ment in 1982 and is manager of fi
nancial analysis.
N orthw estern Banker, March, 1984

Colorado News

First National Announces
New Management Group

Denver Appointments Told

with United Bank of Skyline fo r#
At Colorado Bank & Trust, three years.
Mr. Hinderaker is responsible for
Kent O. Olin and the board of The Denver, Lyndol Carter was ap
pointed
vice
president,
commercial
managing
the teller, advantage
First National Bank of Colorado
Springs announced recently several lending; Jack A. Rychecky, vice banking, pocketTeller and security
significant changes in senior bank president; Robert Hinderaker, assis departments of the bank. He pre-#>
tant vice president; Diann L. Davis, viously was with First of Southglenn.
management.
real
estate loan officer, and Thomas
With First Colorado since 1980,
Kent Olin, president, was named
Ms. Davis had been serving in the
chairman of the board and will con W. Espeland, loan review officer.
Previously with United Bank of real estate and commercial lending
tinue as CEO. Mr. Olin succeeds
^
Russell T. Tutt, whose retirement as Denver for five years, Mr. Carter areas.
served
as
assistant
vice
president
of
Mr.
Espeland
previously
was
with
chairman was announced earlier.
Richard C. Gillaspie was named executive lending and loan adminis C.I.T. Corporation for over two
years, where he served as district
president and chief operating officer tration.
Mr. Rychecky, who will serve in credit manager in the Casper,
and will be responsible for the day to
®
day operation of the Bank. J. Doug real estate lending, previously was Wyoming, division office.
las Kelly was named vice chairman
and chief financial officer.
Mr. Olin has served the bank as
president since October, 1974. He
EPOSIT and loan fig u re s fo r C o lo ra d o banks re p o rtin g d e p o s its of ®
was vice president of the United
$70 m illio n or m ore at year-end are show n in the ch a rt below . C om
Bank of Denver and President of
para
tive fig u re s from a year ago are featured.
The First National Bank of Boulder
(Last three figures omitted)
prior to joining the bank in Colorado
Springs.
December 31, 1983
December 31, 1982 #
Mr. Gillaspie, elected president,
Deposits
Loans Deposits
Loans
joined The First National Bank in 1. First Interstate Bk. of Denver1 ............. $1,853,786 $1,292,679 $1,671,914 $1,148,421
United Bank, D enver............................
1,815,280 1,347,903 1,660,198 1,395,594
January, 1982, as an executive vice 2.
3. Colorado Natl., D enver........................
963,954
806,405
947,723
750,859
president and director. He began his 4. Central Bank of Denver........................
832,120
625,201
823,098
589,005
banking career at The First National 5. Denver Natl. B a n k................................
260,093
170,400
291,519
158,305 (1
Bank of Boulder and came to First 6. First Natl. Colorado Springs.................
258,225
184,169
227,399
158,808
211,444
163,386
172,861
132,300
National from Lloyds Bank Califor 7. First Colorado B&T, Denver2.................
Exchange Natl. Colorado S prings.......
207,568
137,995
167,705
102,895
nia where he was senior vice presi 8.
9. First Interstate, Fort Collins, N.A..........
203,906
159,771
196,703
149,922
dent.
10. Colorado Springs Natl. Bk ...................
185,217
111,432
147,066
95,694
J. Douglas Kelly, elected vice 11. Metro Natl., Denver..............................
176,298
115,616
180,920
136,012 (El
170,391
124,033
130,618
107,684
chairman and chief financial officer, 12. United Bank of Fort Collins .................
First Natl., Boulder ..............................
167,752
112,172
151,643
108,971
came to First National from Chemi 13.
14. First Natl. Bank, Englewood.................
167,328
125,538
146,886
108,908
cal Bank of New York and has served 15. Guaranty B&T, Denver..........................
156,689
106,163
133,463
97,092
the bank in the areas of financial 16. Jefferson B&T, Lakewood.....................
144,226
105,259
171,749
125,950
141,121
planning, investments and trusts. 17. Cherry Creek Natl. Bk., Denver.............
111,139
102,508
76,621 HI
131,896
94,617
129,979
87,197
Named a vice president and senior 18. First Natl., Greeley................................
19. Greeley Natl. Bank................................
130,632
107,114
119,822
98,301
trust officer and member of the 20.
First Natl., Golden................................
130,167
84,919
104,676
68,059
board in 1972, Mr. Kelly was se 21. First Bank of Westland, N.A..................
126,665
90,107
112,276
80,895
lected as an executive vice president 22. First Interstate Bank, Englewood .......
125,546
74,463
99,735
74,469
111,453
72,391
102,106
68,155 (|i
in 1982 with broad supervisory re 23. IntraWest Bank of Boulder...................
24. U.S. Bk. of Grand Ju n c tio n ...................
111,096
79,583
124,496
85,903
sponsibility over the financial plan 25.
Colorado National Bank, Pueblo.........
109,960
64,169
98,262
65,750
ning, investment, and trust depart 26. Mountain St. Bk., Denver.......................
109,440
54,725
94,049
53,783
ments.
27. First Natl. Bk. of Grand Junction .........
108,208
88,007
102,885
77,401

Largest Banks in Colorado

Vail Elections Announced
Vail National Bank, Vail, recently
announced the promotions of Joann
F. Price to assistant vice president
and the election of Mats A. Kinnison
and Theodore A. Diedrich as loan of
ficers.
Ms. Price is responsible for mar
keting, personnel, retail operations
and discount brokerage.
Mr. Kinnison previously was as
sociated with Valley National Bank
in Phoenix, Ariz, and Mr. Diedrich
was with Citizens Bank in Westmin
ster, prior to joining Vail National.

N orthw
estern Banker, M arch , 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.

Colorado St. Bk. of Denver...................
105,141
45,401
101,743
44,712
United Bank, Greeley............................
104,770
79,201
91,703
67,073
Pueblo B&T, Pueblo..............................
99,629
54,544
88,949
46,185
United Bank of L ittle to n .......................
98,898
75,975
87,716
69,577
Natl. City Bank, Denver........................
94,592
66,430
84,248
56,136
Lakeside Natl. Bank, Denver.................
88,608
65,043
88,347
60,632
Central Bank, Colorado Springs...........
88,111
66,201
92,158
63,631
First Natl. Bank, Longmont .................
85,123
40,664
79,647
39,760
Mlnnequa Bank of Pueblo.....................
84,386
43,241
75,801
39,639
First Natl. Bk., Glenwood S p rin gs.......
83,607
59,081
89,456
64,628
First Natl. Bank, Loveland ...................
81,106
57,471
77,399
55,530
United Bank of Lakewood.....................
78,922
59,830
64,517
48,987
United Bank, Boulder ..........................
78,646
54,393
66,734
53,208
Security State, Sterling........................
78,614
49,804
78,086
46,999
IntraWest Bk. Bear Valley, N.A., Denver
77,597
44,626
66,569
40,261
United Bk. Skyline, N.A., Denver...........
76,422
70,794
71,688
55,627
First National Bk. W estm inster...........
70,700
62,524
57,281
47,586
Mesa United Bank, Grand Junction . . . .
70,629
52,323
70,211
54,853
’ Result of merger of First Interstate Bank of Denver and IntraWest Bank of Denver
fo rm e rly University Natl., Denver

<§

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Federal Reserve Bank of St. Louis

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N orthw estern Banker, March, 1984

itilîÏE

1 INCREASED PROFITABILITY
Good question. And at Bandease, we
just happen to have six good answers:

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an affiliate of first national bank of o m a h a

N orthw
estern Banker, March, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

r WE UNDERSTAND YOUR
J NEEDS
We are not consultants or brokers.
We’re bankers. And as one of the oldest
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-

Fremont Banks Join

D.G. Johnson, pres., Pilger
S. Matzke, Jr., exec, v.p., Lincoln

Application has been approved by
the Comptroller of the Currency for
the consolidation of The Fremont
National Bank and Trust Company,
and Fremont Bank, N.A., which is
organizing, under the charter and ti
tle of the former.

Ravenna V.P. Promoted
Melvin E. Fuller, who joined The
Ravenna Bank in 1983, has been
Siouxland National Bank
Omaha, and finally to Hastings, promoted from assistant vice presi
where he assumed the position of dent to vice president.
Elects New Vice President
Alan D. Kegley, who joined in
® The election of Garnet Blanken commercial lending manager in 1979, has been promoted from assis
1972. Mr. Farrell was elected senior
b u rg to vice
vice
president in 1976 and was pro tant vice president and cashier to
president/camoted to executive vice president in vice president and cashier.
shier of Sioux
Terry T. Johnson, executive vice
1981.
land National
president,
has resigned to accept a
Ms. Lowe has been with the H ast
a n k , Sout h
position as branch manager of a
ings
bank
for
11
years,
starting
as
a
Sioux City, was
part-time emloyee in 1973. After bank in Britten, S.D.
recently
an
working as a teller for four years,
nounced by Fran
she became a new accounts represen Named in Madrid
J 3a l m e r s h e i m ,
John A. Kreuscher has been
tative
in 1977 and in 1979 was named
"President.
named
president of Security State
assistant
manager
of
the
West
facili
Ms. Blanken
Bank
of
Madrid. He previously served
ty.
burg joined the G- BLANKENBURG
as executive vice president and
bank in 1980 and has been in bank
manager of Security State for three
i n g 15 years in Siouxland area.
years.
Retires in Holdrege
Also at the bank, Jack R. KurW.M.
Pritchard,
Jr.,
retired
at
the
kowski
has been promoted to assis
Hastings Bank Announces
end of January from active duty at tant vice president and cashier. Mr.
Management Promotions
First Security Bank, Holdrege. He Kurkowski, who has been an officer
O The board of directors of the Nor- will continue as vice chairman senior of the bank for the past year, pre
west Bank of Hastings recently an vice president, director and a consul viously was with Keith County
nounced promotions for three bank tant.
Bank and Trust of Ogallala.
management positions. Norman
Nackerud, formerly president of the
•>ank, was elected chairman and
chief executive officer; John Farrell,
formerly executive vice president,
was named president and chief oper
ating officer, and Judy Lowe, for•lerely assistant manager of Norwest
Bank West, was promoted to assis
tant vice president and manager of
the West facility.
Mr. Nackerud joined Norwest in
^ 9 4 9 as an operations officer in his
home town bank in Tracy, Minn. He
moved to the Norwest Bank in
Lewistown, Mont., where in 1963 he
became president and chief ex
ecutive of that bank. From 1966 to
1972 he held various corporate posi
tions at Norwest’s home office in
Minneapolis, and in 1972 he moved
to Hastings to assume the presiden
c y and chief executive position at AN Open House was held January 14 for Farnam Bank’s new bank building. Over 400 at
the Hastings bank.
tended the festivities which included drawnings for savings accounts and gift certificates,
Mr. Farrell, joined Norwest in and free refreshments. The new structure consists of 2,400 sq. ft. plus a basement used for
1961 as a trainee in St. Cloud, Minn. storage and as a community room. Inside, the structure features a high lobby ceiling, and
houses a board room, three offices, operations area, employee lounge, safe deposit vault,
T'rom St. Cloud he moved to storage
vault and a room for the bank machines. In addition, the bank is celebrating its
"iorw est positions in Minneapolis, 80th anniversary this year.

Farnam Bank Holds Open House

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

N orthw estern Banker , March. 1984

Two Scottsbluff National
Executives Die Last Month

Two management appointments
have been made in Omaha National
Bank’s Information Systems and
Payment Service Department, ac
cording to John D. Woods, board
chairman and chief executive officer.
Richard D. Nelson has been ap
pointed manager of Golden Eagle
and Cash Management Services.
Golden Eagle Services is the pro
duct line for the array of information
services Omaha National provides
to financial institutions and other
customers. Cash Management Ser
vices are designed to assist commer
cial banking customers in optimiz
ing the availability of cash for in
vestment.
Mr. Nelson, who previously was
funds processing and analysis man
ager, joned Omaha National in 1979
and was promoted to a second vice
president in 1982. Prior to joining
Omaha National, he was employed
by the Omaha Branch of the Federal
Reserve Bank of Kansas City.

recently he was manager of informa
tion resources.
* * *
Omaha Bankers Association re
cently elected its new officers for
1984. They are as follows:
President—Edward A. Kohout,
president, Norwest Bank-South
Omaha;
First Vice President—J.M. Hart
Jr., chairman and chief executive of
ficer, North Side Bank, Omaha;
Second Vice President—Harold
G. Haver, president, American Na
tional Bank, Omaha, and
Secretary-Treasurer—Kay Ken
worthy, Omaha.
* * *
Robert A. Auerbach has been
named vice president and cashier of
First Westroads Bank of Omaha. In
addition, Thomas W. Wade has been
promoted from assistant vice presi
dent to vice president for consumer
loans at the bank. Cindy M. Stone
has been named operations officer.
* * *

North Side Bank has promoted
Joan L. Wheeler to assistant vice
president and Mariann Shanno to
assistant cashier and head teller.
* * *
R.D. NELSON

M.L. HAVEKOST

Miles L. Havekost has been
named manager of information and
funds processing. His responsibili
ties will include computer opera
tions and check processing.
Mr. Havekost joined Omaha Na
tional in 1973 and was promoted to
second vice president in 1983. Most
DigitizedNfor
FRASER
orthw
estern Banker, M arch , 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Douglas County Bank and Trust
Company recently promoted Peggy
J. Blake to personnel officer.
Ms. Blake joined the bank in De
cember, 1973, and worked in the
bookkeeping department. She was
later promoted to be an executive
secretary and in 1978 she was trans
ferred to the customer service de
partment as an assistant cashier.

Two senior officers of Scottsbluff
National Bank and Trust Company
died last month within two days of
each other after extended illnesses.®
H.D. “Hank” Kosman, 70, chair
man and chief executive officer, died
suddenly February 11 while recuper
ating from lung surgery. Robert G^
Finke, 55, senior vice president, die®
February 9 after several months’ ill
ness with cancer.
Mr. Kosman joined Scottsbluff
National in 1949 as a vice president^
He served as president from 1951 t®
1976, then continued as chairman
until his death last month.
Mr. Kosman served one term,
from 1947-49, as a state senator
from the 10th district. He served for
six years as a director of the Omaha
branch of the Federal Reserve Bank
of Kansas City; was a long-time di
rector of the Nebraska Public Powe^
District, serving as its president in
1982; was a trustee for many years
of Bankers Life of Nebraska in Lin
coln, and was appointed by the
Governor to the state Investm ent
Advisory Council.
Mr. Kosman also was active in
the Nebraska Bankers Association,
serving as group chairman, on many
NBA committees and as president
of NBA in 1957-58.
Mr. Kosman was graduated from
the University of Nebraska in 1935,
later serving the university as a
trustee and director of the NU Foun©
dation. He was awarded the distin
guished service UNL Builders
Award in 1979.
In addition to his wife, Jane, Mr.
Kosman is survived by daughters©
Ann and Dianna, and a son, H.H.
Kosman, vice president of Scotts
bluff National.
Mr. Finke had been with Scotts
bluff National 26 years, and was©
very active in local community and
church organizations.

David City Promotes Three
First National Bank of David Ci
ty has announced the promotion of
Frank P. Neesen from senior v ic ^
president to executive vice presi
dent; LaVerne A. Dowding from
vice president and cashier to senior
vice president, and Rex L. Minert
from assistant vice president to vicq^
president and cashier.

#
Don Ostra nd

Fred Kuehl

Jim Flodine

Gerry Tomka

Tom Jensen

THE
ANSW ER
MEN
CORRESPONDENT banking can be confusing, frustrating,
time-consuming. Not so at First National Bank of Omaha.
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financial technology at their fingertips dispensing profession
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So call us for the answers to your correspondent
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In Nebraska, call 1-800-642-9907. Outside
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answers from us, the answer men.

TirSl ROlIOROf DORK
of omaha

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Federal Reserve Bank of St. Louis

Member FDIC

N orthw estern Banker, M arch , 1984

Nebraska News

Retires in Malmo
Mildred F. Pacal has retired as
cashier of the Security Home Bank
in Malmo. She was associated with
the bank for over 22 years.

Kearney Bank Staff
Receive Promotions
Three staff members received pro
motions at The Platte Valley State
Bank & Trust Company, Kearney.
Newly promoted are Mike Bel
lamy to assistant cashier; Mary
Hampton to assistant operations of
ficer, and Jackie Purdy to trust ad

ministration officer.
Mr. Bellamy has been employed
at the bank since 1982. Mrs. Hamp
ton was with First National Bank of
Grand Island before joining the
Kearney bank in 1978. Mrs. Purdy
has been with the trust department
since January in 1983.

Trenton Promotion Told
State Bank of Trenton has pro
moted Mark L. Forgue to cashier.
He joined the bank in 1981 and has
served as assistant cashier the past
year.

The Company Name
Has Changed. . .

Elected in Ainsworth

At the annual meeting of Com
mercial National Bank, Ainsworth,
Myrna Liebig was elected as assis
tant cashier and Douglas Weiss as
marketing officer.
®

Sidney Executive Retires
Lowry W. Lindell, executive vice^
president of the American National
Bank of Sidney, retired March 1
after 30 years in the bank’s instal
ment and commercial loan depart
ments. He plans to remain in Sidney.^

Largest Banks in Nebraska
EPOSITS and loan fig u re s fo r the to p banks In N ebraska w ith $5C0
m illio n d e p o s its or m ore are show n in the a cco m p a n yin g ch a rt as
th e y were reported at year-end. C o m p a ra tive fig u re s fo r a year ago also
are featured.

(Last three figures omitted)
William March
President

Patrick H. Rensch
Senior Vice President

C. W. (Chuck) Poore, Jr.
Senior Vice President

A. William (Bill) Abts, Jr.
Vice President

Wayne A. Rasmuss
Secretary-Treasurer

Micky Krupinsky
Representative

John Fleming
Representative

Now we’re the MBU Professionals.
We’re the same people you worked
with in the past. And we still spec
ialize in tax-exempt investments.

M unicipal Bond
Underwriters, Inc.
Investment Bankers • Underwriters
208 South 19th Street, Omaha, Nebraska 68102
(402) 341-1144
In Nebraska Call Toll Free (800) 642-4413
Member of the Securities Investor Protection Corporation

N orthw
estern Banker , M arch , 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

SIPC

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
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20.
21.
22.
23.
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Omaha Natl. Bk.....................................
First Natl. Bank, Lincoln......................
First Natl., Omaha................................
Norwest Bank Omaha, N.A.1.................
Natl. Bk. of Comm., Lincoln .................
Norwest Bk. Omaha South, N.A.2.........
Norwest Bk., Hastings, N.A.3 ...............
First Natl. B&T, C olum bus...................
DeLay First Natl. B&T, N orfolk.............
Norwest Bk. Omaha West4 ...................
First Natl., Grand Is la n d ......................
Scottsbluff Natl. B & T ..........................
First Natl., H oldrege............................
Packers Natl., Om aha..........................
City Natl. B&T, Hastings.......................
First Westside Bank, O m aha...............
Douglas County B&T, Omaha...............
First Natl. B&T, Fremont......................
First Natl. B&T, North Platte.................
First Natl. B&T, Kearney......................
Commercial Natl. B&T, Grand Island . . .
Platte Valley St. B&T, Kearney.............
First Natl., Y o rk ....................................
Southwest B&T, O m aha......................
Fremont Natl. B&T, Fremont ...............
Norwest Bank Norfolk, N.A...................
First Natl., M cCook..............................
Gering Natl. B&T, Gering......................
Guardian State B&T, Alliance...............
Union B&T, L in c o ln ..............................
American Natl., Omaha........................
McCook Natl. B a n k ..............................
Gateway B&T, Lincoln..........................
Washington County Bank, B lair...........
First Natl., Fairbury..............................
Beatrice Natl. B&T, Beatrice.................
Overland Natl., Grand Island ...............
North Side Bank, Omaha......................
Jones Natl. B&T, Seward .....................
State Natl. B&T, Wayne........................
Bankof Millard, Omaha........................
fo rm e rly
fo rm e rly
fo rm e rly
4Formerly

U.S. Natl., Omaha
Northwestern Natl., Omaha
First Natl., Hastings
Center Bank, Omaha

December 31, 1983
Deposits
Loans
$642,137 $490,367
578,805
365,981
490,477
306,925
452,575
328,423
299,774
212,363
163,175
133,428
105,444
160,625
151,990
80,759
124,805
66,623
121,085
63,313
116,764
79,629
98,827
60,895
97,777
69,225
94,183
60,049
92,070
60,860
91,338
46,291
90,404
62,598
90,213
47,939
89,676
57,705
86,434
56,878
85,020
52,281
81,960
67,821
81,386
56,098
80,915
41,358
78,894
48,298
78,151
41,188
76,016
50,551
56,773
72,336
71,975
50,088
54,713
71,265
32,685
67,828
65,880
44,395
65,387
49,055
64,197
46,146
63,607
31,098
45,679
62,975
62,623
35,959
58,140
33,626
56,567
28,375
35,082
54,976
31,741
52,571

December 31, 1982
Deposits
Loans
$714,596 $419,808
534,194
316,286
421,570
263,006
263,737®
452,990
274,607
202,075
145,953
107,148
142,788
89,785
127,868
68,370
106,562
60,126
100,092
54,357®
111,195
73,289
87,518
55,889
62,471
93,292
87,314
54,021
86,106
54,957
43,744®
73,795
70,876
45,836
81,474
41,338
84,970
59,928
58,074
81,170
84,318
59,685
61,872®
77,472
76,057
57,621
72,430
38,313
67,962
42,843
55,091
33,405
72,331
48,246
68,618
50,105®
70,464
48,327
55,736
37,275
39,034
67,498
62,101
40,328
63,708
49,411
55,708
41,243®
59,821
27,820
60,632
45,238
40,927
65,708
27,992
52,517
28,173
50,638
48,726
31,838®
46,793
29,366

•

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N B C C e n t e r . 13th & O St.. L i n c o l n , N e b r a s k a 68508. T e l e p h o n e (402) 472-4321 / Member FDIC

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Federal Reserve Bank of St. Louis

Lincoln
Marc Wullschleger has been pro
moted to mortgage loan officer in
First National Lincoln’s mortgage
loan division.
Mr. Wullschleger joined First Na
tional in 1981 as a mortgage loan
representative.

Hastings Advancements
Hastings State Bank has pro
moted Doug Heim to senior vice
president; Dan Allen to vice presi
dent and cashier; Becky Kindig to
administrative officer; Bev Seiko to
customer service officer, and Marie
Rauner to East Bank manager.
Bill Beckman has joined the bank
as vice president with responsibili
ties in real estate lending, consumer
loan department supervision and ad
ministrative duties. He previously
was senior vice president with First
Savings Company in Grand Island.
Laurie Smith has been appointed
consumer loan officer. She previous
ly was employed by Associates for
four years and Postal Finance for
over eight years.

complete. The sale is subject to reg-®
ulatory approval.
Approvals to become holding
companies have been granted to Fi
nancial Group Humboldt, Inc., by
acquiring Home State, Humboldt;®
Financial Group Dawson, Inc., by
acquiring Dawson Bank, and Finan
cial Group Elk Creek, Inc., by ac
quiring State Bank of Elk Creek.
Eberly Investment Co., Stanton,®
has received approval to become a
bank holding company by acquiring
Stanton N at’l, and to engage in gen
eral insurance activities by acquir
ing Stanton Nat’l Insurance Agency.®
Grant Bancshares, Inc. has re
ceived approval to acquire all of the
operating assets of the Grant office
Two Promoted, Director
of Service Insurance Agency, Inc.,
Elected in Hastings
Imperial. Grant Insurance engages#
Wesley R. Keebler and Mark A. in general insurance activities.
Wright have been promoted to assis
tant vice presi
Application Filed
dents at City
The Farmers National Bank of®
National Bank
Grant
has filed application with the
and Trust Com
Comptroller
of the currency to open
pany, Hastings.
a branch at 401 Main Street in
Mr. Keebler,
Venango.
who joined City
O
National in 1982,
will serve as
Two Elected At
manager of agri
South Sioux City Bank
cultural lending.
Linda R. McCoy has been elected
Mr. Wri ght
assistant vice president of Nebraska®
State Bank of South Sioux City. Ms.
McCoy joined the staff in 1968,
most recently serving as assistant
cashier in consumer lending.
Jeffrey C. Dible, currently vice®
president, has been elected to the
bank’s board of directors. He joined
the bank in 1979.
M.A. WRIGHT

J.C. OSBORNE

will become the manager of commer
cial lending. He has served as an of
ficer in that department since 1980.
Three Named in York
Also announced was the election
of
John C. “Jack” Osborne as a
The First National Bank of York
has named Steven Hannon credit ad member of the board. He is presi
ministration officer; Thomas Damk- dent of Industrial Irrigation Ser
roger, agricultural loan officer, and vices.
Carol Miller, secretary to the board.
Mr. Hannon started with the
bank in 1982 after serving at Ameri
can Charter Federal Savings and Acquisitions Announced
Tereco, Inc., which owns most of
Loan in Columbus. Previously with
Halam Bank in Halam, Mr. Damk- the outstanding stock of Farmers
roger joined the York bank in Octo State Bank of Silver Creek, and a re
ber of last year. Mrs. Miller, execu lated full line insurance agency, has
tive secretary of the bank for 11 been acquired by Clark Caley of
years, has been an administrative Clarks. G.W. Nightingale, president
Tereco, will resign when the sale is
since 1980.

N orthw estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

Mergers Approved
The Nebraska Department of
Banking approved the mergers of
First York Savings Company into^
York State Bank & Trust Company,
and Scotts Bluff Savings Company
into Scottsbluff National Bank &
Trust Company.

Joins Falls City Bank
Lydell L. Woodbury has joined
First National Bank & Trust Co.,
Falls City, as agriculture loan of-®
ficer. Mr. Woodbury formerly was
with the Clarinda PCA branch in
Corning, Iowa.
Kathy S. Fischer has been pro
moted to customers service officer®
and trust administration officer.

The Experienced Professionals
of First National Lincoln.

Ready to meet your investment needs.
Put your trust in the Municipal and Government Bond specialists
of The First Team. Fast. Knowledgeable. Experienced. First
National Lincoln — Nebraska’s most active dealer bank.

The F irs t Team.
13th & M Streets • P.O. Box 81008
Lincoln, NE 68501 • Phone (800) 742-7376
Member, F.D.I.C.

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Federal Reserve Bank of St. Louis

N orthw estern Banker , March, 1984

Export-Import
Experts
T h e r e 's a n e w I o w a t e a m t o h e l p
N o w th is I o w a t e a m is w o r k i n g
y o u h e lp y o u r c u s to m e r s d o b u s i
t o g e t h e r t o h e l p i n c r e a s e I o w a 's
n ess o v ersea s.
sh a r e o f g lo b a l m a rk ets. W e h a v e
T h e I o w a E x p o r t - I m p o r t T r a d in g
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C o m p a n y a s s is ts I o w a c o m p a n i e s
p r o v id e a c o m p le t e p a c k a g e of
in m a r k e t i n g , s h i p p i n g o r p r o c u r
in t e r n a t io n a l t r a d i n g a s s is t a n c e .
i n g t h e ir p r o d u c t s o u t s id e t h e U.S.
If y o u h a v e a c u s t o m e r d o i n g
B a n k e r s T rust p r o v i d e s a fu ll
b u s in e s s in f o r e i g n m a r k e t s n o w ,
r a n g e o f i n t e r n a t io n a l
TThe
h e New
N ey; Iowa
a Team
or w i s h i n g t o d o s o ,
b a n k in g s e r v ic e s to
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H fr Y
a n d d o c u m e n ta r y
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o
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estern Banker , M arch , 1984
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Federal Reserve Bank of St. Louis

Promoted in Fredericksburg
First State Bank, Fredericksburg,
has announced the promotion of
Dale Mohling to vice president,
Larry Hanson to assistant vice pres
ident and Mike Bender to cashier.

Madrid Chairman Honored

Elected in Council Bluffs
Richard C. Stoufer has been elected
vice president and trust officer at
•o u n c il Bluffs
Siavings Bank.
Appointed to as
sistant auditor
was Jo h n E.
•lleyers.
Mr. Stoufer,
formerly tru st
officer, worked
for
C ouncil
f lu f f s Savings
J.E. MEYERS
Bank and its
parent company, Banks of Iowa,
from 1973 to 1979. In 1983 he re
joined the bank in the trust depart
m ent. He is a CPA and has been em
ployed by Arthur Andersen & Co.
and Kealy, Hamilton & Co. account
ing firms.
Mr. Meyers joined the bank in
™976, working in a variety of assign
ments. In 1978 he was transferred to
the auditing department.

J)ubuque Promotions Told
Key City Bank, Dubuque has an
nounced the promotion of John Koppes to vice president and Gayle
Goerdt to assistant manager of its
Kennedy Office.
Mr. Koppes graduated from the
University of Dubuque in 1970 and
began his banking career at that
time. Since joining Key City Bank in
#980, he has served as loan officer
and office manager.
Ms. Goerdt began her banking ca
reer in 1974.

Promoted to President
At Cedar Rapids Bank
Jock Stevenson has been pro
moted to president of First Trust
and
S a v in g s
B ank, C edar
Rapids. He suc
ceeds Arthur B.
Bezdek, who has
been
nam ed
chairman.
Mr. S teven
son, previously
executive vice
p r e s id e n t ,
been w ith

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Federal Reserve Bank of St. Louis

j. STEVENSON

bank since March, 1980. Prior to
that time he was with the Iowa
State Department of Banking for 18
years, most recently as assistant to
the superintendent.
Mr. Bezdek also announced the
promotion of Robert Tauber to
assistant vice president and Karen
Thrune to assistant cashier.

Retires After 37 Years
A reception was held recently at
Peoples Bank and Trust Company,
Waterloo, in honor of J. Elaine An
derson, vice president, who retired
recently after 37 years.
Ms. Anderson joined the bank in
1947 as a teller and move up the
ranks until her promotion to vice
president in the personnel division
in 1976.

Sac City Announcements
George H. Pingrey, president of
Sac City State Bank, has announced
the promotion of Gary L. Gilliland
to executive vice president and his
election to the board, and the promo
tion of Randy Bentsen to assistant
cashier and agricultural represen
tative.
Mr. Gilliland joined the bank in
September of 1983 as vice president
in charge of lending. Prior to that he
was employed by the National Bank
of Monmouth, Illinois for over 14
years.
Mr. Bentsen has been associated
with the bank since 1982 as the
bank’s farm manager.

Appointed in Somers
Somers Savings Bank has an
nounced the appointment of Beverly
Martin as assistant cashier. In addi
tion, Kevin M. Black has joined the
staff. He formerly was with the
First National Bank at Tipton.

Ames Election Announced
Lynn A. Zylstra has been elected
operations officer of the University
Bank & Trust Company in Ames.
She joined the bank’s staff in
1981 and has been serving in various
accounting and personnel functions
since that time.

1984 Iowa Group Meetings

•Lansing Chairman Named
T.M. Kerndt has been named
chairman of Kerndt Brothers Sav
ings Bank, Lansing. He succeeds
J o h n Brophy, who resigned in
J a n u a ry . Mr. Kerndt is the third
generation of Kerndts to head the
bank and has been with it since 1946,
most recently as vice chairman. Mr.
JBrophy has served on the board
since 1959.

has
th e

At the 50th annual meeting of the
stockholders of City State Bank,
Madrid, C.W. Anderson, chairman
emeritus, was presented a plaque in
recognition of 50 years of service to
the bank.

Group
6
8

7
4
5
2
12

Date
May 7
May 8
May 9
May 10
May 14
May 22
May 23
May 24

Location
Des Moines
Iowa City
Waterloo
Dubuque
Council Bluffs
Fort Dodge
Okoboji
Clear Lake
N orthw estern Banker, March, 1984

Iowa News

Ag Bankers to Meet in Ames

Announced in Farley

The following announcements
were
recently made by Farley State
10:20 Presiding Roger Engelkes,
Bank:
IBA Ag Committee Chair
Joseph D. Daly, executive vice
man, executive vice presi
president,
was promoted to the ad d #
dent, G rundy N ational
tional
post
of chief executive officer;
Bank, Grundy Center.
Daniel
C.
Willenbring,
cashier and
10:30 Tom Flynn, partner, Wimer,
operations
officer,
to
vice
president
Hudson, Flynn & Neugent,
and
cashier;
Nancy
A.
Dunkel
from
Des Moines, talks on “Bank
assistant
vice
president
and
loan
o^
ruptcy.”
ficer
to
vice
president
and
loan
offi
11:45 Special Luncheon with 50
Iowa State Senior Ag Fi cer; Lynne A. Gibbs from assistant
cashier and assistant personnel of
nance Students.
ficer to assistant cashier and person
nel
officer; Joan Honkomp from a ^
P.M.
sistant
cashier to the additional post
1:00 “ R e g u la to ry U p d a te ,”
Howard Hagen, assistant of assistant operations officer, and
Robert Wilwert, assistant loan of
T. F L Y N N
0 . HANSEN
attorney general.
ficer,
to the additional position o£
“Putting It Into Perspec
manager
of the Holy Cross Office. ®
tive,” Oliver Hansen, presi
Steven J. Ament has joined the
dent and chairman, Liberty
Trust & Savings Bank, Du staff as officer trainee. He will be
working in the bank’s ag credit de
rant.
_
“Bank Examinations,” Su partment.
perintendent of Banking
Three Promoted in Sibley
Tom Huston.
2:45 “Legislative Update,” Wes
David D. Vaselaar, executive vice
Ehrecke, IBA government president of Sibley State Bank, has
relations/marketing direc announced the promotion of thre®
T .H . H U S T O N
R. B R O C K
tor.
staff members.
3:00
Break.
Ercell Marco, an employee since
Registration is $80 for IBA
3:15 “World Ag Trade Center 1951 and an assistant vice president
members, $100 for IBA subscribers
and Export Trading Com since 1977, will assume duties of
and $120 for nonmembers. Accom
pany
Possibilities,” John cashier. Harris J. Kruse, an a ss i#
modations are being blocked off at
Ruan,
or representative tant vice president who joined the
the Gateway Center in Ames. A ten
from
the
company, Des bank in 1977 and Michael S. Mahtative schedule follows:
Moines.
lendorf, who joined the staff as a
4:00 Workshops:
vice president in 1983, have been
Monday, March 19
• Financing Livestock Oper named to the board of directors. ®
P.M.
ations,
banker and a farmer.
1:00 -5:00 Panel: “Risk Assess
•
Large
Bank Influence vs.
ment and Management,”
Correspondent Banking vs. Perry Officer Named
“Options and Futures,” and
Marc Meyer has been named ag
Cross Streaming Considera
Marketing Strategies and
loan officer for the Brenton N atio n ^
tions
for
the
Ag
Bank.
Planning. ’’
Bank of Perry.
• Personality Profile.
John Gaines, ag lender mar
Mr. Meyer worked for the Farm
5:15
Evening
on
your
own.
keting specialist, Chicago
Credit Bank System for the past
Mercantile Exchange, Chi
eight years, most recently as branch
Wednesday, March 21
cago, plus 2-3 additional
manager of the Knoxville office. •
A.M.
speakers.
8:15 Presiding Roger Engelkes,
5:00 Exhibitor reception.
IBA Ag Committee Chair Burlington Elections
6:00 Evening on your own.
man.
Douglas S. Grinde, president of
Tuesday March 20
Welcome by IBA President Hawkeye Bank and Trust, B u rlin g
A.M.
A1 Maser.
ton, announced the election of three
8:30 1985 Farm Program and new officers and one new director.
7:30 Workshops:
• Loan Documentation and
Government Policy Discus
Jim O’Neill was elected assistant
Financial Statement Analy
sion Panel: Orien Samuel- vice president, financial sales of
son, WGN TV, farm direc ficer; Nancy Kester, investors cente^
sis and Review Manage
ment.
tor, Chicago.
officer, and Carol Sanders, trust ope^
• Structure Loan Workouts, 11:45 Lunch and “ Community rations officer. James O. Bell was
Outlook,” Richard Brock, elected to the board to fill the vacan
and Customer Counseling.
• Risk and Pricing Credit.
Milwaukee, Wise.
cy left by Donald J. Bell, who re
P.M.
8:50 Workshops repeated.
tired. Jim Bell is a partner at Bell ^
1:15 Adjourn.
Hansen Law Office in New London.
10:05 Break.
FULL SCHEDULE of work
shops and speakers has been lined
up for the Iowa Bankers Ag Credit
Conference set for March 19-21 at
Scheman Center, Ames.

Digitized Nfor
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estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

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Federal Reserve Bank of St. Louis

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know about Kirk Gross Co., call at your earli
est opportunity. (How about right Now!
Phone 319-234-6641)

4015 Alexandra Drive
P.O. Box 2097
Waterloo, Iowa 50704

Iowa News

Joins Clarinda Staff
Robert Briggs has joined the staff
of Citizens State Bank of Clarinda
as assistant vice president.
He joines the bank from the PC A
in Fairfield, where he was southeast
Iowa branch manager.

Waterloo V.P. Appointed
The National Bank of Waterloo
has appointed
former Waterloo
Mayor Leo P.
Rooff to the po
sition of vice
president of gov
ernmental rela
tions. This new
p o s itio n was
created to assist
th e c ity and
L.P. ROOFF
county govern
ment in the future economic growth
of the area. Mr. Rooff was mayor for
ten years.

Waterloo Officer Promoted
Charles E. Laipple has been pro
moted from consumer loan officer to
a ssista n t vice
p resid en t and
head of the in
stalm ent loan
departm ent of
Peoples Bank
and Trust Com
pany, Waterloo.
Mr. Laipple
joined the bank
in 1977 as an of
C.E. LAIPPLE
ficer trainee and
was advanced to consumer loan of
ficer later that year.

Fort Dodge Promotions Told
At Norwest Bank Fort Dodge,
Craig E. Cool was promoted to con
troller; and Ed W. Koehn and John
F. Ambroson were promoted to as
sistant vice president.
Mr. Cool was employed by Nor
west Bank in Cedar Falls from 1978
until his move to Fort Dodge in 1981.
Mr. Koehn joined Norwest Bank
Mankato in 1980 as a regional credit
trainee. He joined the Fort Dodge
bank in 1981 as a credit analyst and
was promoted to loan officer in 1982.
After teaching in the Webster Ci
ty School System for one year, Mr.
Ambroson joined the Fort Dodge
bank as a management trainee in
1979. He presently serves as com
mercial loan officer.
DigitizedN for
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Federal Reserve Bank of St. Louis

Largest Banks in Iowa

EPOSITS and loan fig u re s fo r Iow a banks re p o rtin g d e p o s its o f $65
m illio n or m ore at year-end are show n in the ch a rt below . C om
para tive fig u re s from a year ago are featured.

(Last three figures omitted)

Norwest Bank Des Moines, N.A.1 ...........
Davenport Bank &T r u st.........................
Bankers Trust, Des M oines.....................
Merchants Natl., Cedar R a p id s.............
United Central Bank, Des Moines ........
Security Natl., Sioux C it y .......................
Natl. Bank, W aterloo................................
First Natl., Iowa C ity ................................
Brenton Natl., Des M o in es.....................
Dubuque B&T Co........................................
American T&S, Dubuque.........................
Peoples B&T, Waterloo ............................
Valley Natl., Des M oines.........................
First Natl., Dubuque ................................
Peoples B&T, Cedar R a p id s...................
Iowa State B&T, Iowa City.......................
First Natl., Sioux City ..............................
Northwest B&T, Davenport.....................
Council Bluffs Sav. Bk..............................
Waterloo Savings Bk.................................
Norwest Bk. Mason City, N.A.2 ...............
First Natl., M uscatine..............................
First Natl., Fort Dodge..............................
Hills B&T C o ..............................................
Security Sv. Bk., Marshalltown...............
Toy Natl., Sioux C it y ................................
Union B&T, Ottumwa................................
Norwest Bk. Sioux City, N.A....................
First American St., Fort D odge...............
West Des Moines St. B a n k .....................
Monticello State Bank..............................
United Central B&T, Mason City ...........
Central State, M u scatin e.......................
United Central B&T, Fort D odge.............
Citizens First Natl., Storm Lake.............
Farmers St. Bk., Marion...........................
First Natl., Burlington..............................
First Natl., Ames ......................................
Peoples T&S, Indianola...........................
Jasper County Sv. Bk., Newton .............
First Natl., Council B lu ffs.......................
Plaza State, Des M oines.........................
Clinton Natl. Bk., Clinton .......................
Hawkeye B&T, Burlington.......................
Bettendorf B&T C o....................................
Hawkeye Capital B&T, Des Moines
Norwest State Bk. Atlantic3 ...................
Fidelity Brenton B&T, Marshalltown . . .
State B&T, Council B luffs.......................
Decorah State Bk.......................................
Maquoketa State Bk..................................
Mahaska St. Bk., O skaloosa...................
First Security B&T, Charles City.............
Norwest Bk. Marion, N.A.4.......................
First Natl., C linton....................................
Emmet County St. Bk., Estherville........
State Central Sav. Bk, Keokuk...............
Citizens Natl., B oone................................
Poweshiek Cnty Natl. Bk., Grinnell . . . .
Brenton First Natl., Davenport...............
Jackson St. B&T, M aquoketa.................
Farmers & Mer. B&T, Burlington ..........
First Natl. Bk. of Waverly .......................
Farmers Natl. Bk., Webster City.............
South Ottumwa Sav. Bk............................
'Formerly
2Formerly
3Formerly
4Formerly

lowa-Des Moines Natl.
First Natl., Mason City
Atlantic State Bank
First Natl., Marion

December 31, 1983
Deposits
Loans
$844,328 $699,592
513,351
209,483
435,214
317,990
405,424
223,402
263,000
133,000
262,048
144,476
214,691
98,055
190,493
116,909
177,344
102,227
176,371
85,948
175,809
83,559
169,979
84,816
167,207
87,270
163,150
94,108
160,459
59,369
152,827
105,910
152,719
83,530
151,943
97,048
149,918
72,258
147,456
74,537
144,934
98,472
103,421
128,205
126,210
74,230
123,565
75,224
122,821
55,078
121,955
74,085
121,008
59,770
120,425
79,355
118,224
58,814
116,723
74,286
115,407
58,418
113,829
70,755
112,593
43,805
111,467
63,540
107,940
53,505
106,486
46,655
105,202
67,310
104,726
50,481
101,640
58,311
100,305
54,165
46,434
96,018
95,910
61,853
45,109
93,043
91,507
53,022
84,089
45,729
83,141
61,342
25,267
81,200
77,945
47,151
47,932
77,159
76,754
39,211
45,832
74,909
41,189
74,328
40,562
73,828
34,204
72,886
72,644
42,639
30,981
71,669
27,238
71,493
37,380
69,932
66,814
37,775
44,404
66,613
66,450
40,160
22,970
66,039
42,232
65,839
65,807
41,692
27,380
65,702

^
December 31, 1982
Deposits
Loans
$800,002 $579,137
452,921
171,411
527,856
321,109®
406,130
184,413
276,258
136,308
258,278
119,097
186,597
89,112
166,341
95,261
91,821®
162,868
127,337
161,385
82,037
153,111
74,992
148,376
166,834
82,004
99,449
153,531
144,702
59,00®
125,177
77,018
151,177
79,864
131,146
85,718
135,586
71,721
129,638
67,143
133,991
88,32®
114,945
88,943
106,171
67,894
57,412
101,131
56,722
110,996
127,342
78,546
110,412
58,45®
112,117
76,520
119,239
68,401
101,117
63,235
99,880
55,168
110,482
65,979
105,220
42,40®
99,149
62,435
98,382
48,759
42,867
89,503
98,519
54,598
86,742
44,032
50,47®
94,631
94,915
49,955
95,401
51,870
81,729
56,297
84,516
42,113
48,837
88,611
83,425
40,66®
83,269
49,427
73,979
26,213
72,764
47,590
72,683
48,792
69,321
41,910
43,68®
72,233
65,471
40,425
37,827
67,055
70,468
36,921
66,724
36,162
31,221
59,590
64,353
25,50®
36,507
65,423
31,684
59,215
66,127
39,275
37,667
64,726
63,563
22,070
61,295
39,68®
59,584
34,515
25,618
57,749

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Federal Reserve Bank of St. Louis

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Banks o f Iowa Com puter Services, Inc.
A "Banks of Iow a" subsidiary. | | I

Iowa News

participants included, left to right: R ic k S t a c h o n , mktg. off., Council Bluffs Sav., & mktg. comm, member;
chmn. & v.p.-mktg. dir., Brenton State, Jefferson; speaker B r u c e M e r iw e t h e r , pres., 1st Natl., D ubuqu^
and W e s E h r e c k e , govt. rei./mktg. dir. of IBA. RIGHT— D a v e P ik e , v.p., Hawkeye Capital B&T, Des Moines; speaker V ija L a k e , a.v.p./mktgr
coord., Independence Bank, Wauwatosa, Wis.; speaker S te v e B a r g e r , v.p.-mktg., Hawkeye Bancorporation, Des Moines, and N o r la n H in k e ,
exec, v.p., First Central State, DeWitt. Mr. Pike and Mr. Hinke are mktg. comm, members.
IB A M A R K E T IN G C O N F E R E N C E
C a r o le C u s te r , IBA mktg. comm.

175 Attend Marketing Conference
By BEN HALLER, JR.
Publisher
HE 175 bankers attending the
T
Iowa Bankers Association’s 1984
Marketing Conference literally were
hypnotized by an excellent program.
It all started on Sunday night, Feb
ruary 5, when Nancy Constant, pres
ident of Offenburger-Constant, Inc.,
Des Moines, showed how hypnosis
is a tool for learning, a tool for attitudinal changes, and for creating
changes.
She said “a study has shown that
peak performers have two abilities
in common: 1. The ability to relax, to
manage stress, and 2. The ability to
have visualization, or a mental re
hearsal. Hypnosis is not what some
one else does for you,” she con
tinued, “but what you do for your
self. You not only do it on purpose,
but for a purpose. Hypnosis is not
something outside your own experi
ence. The ability to depend on hyp
nosis is due to two things: 1. A de
sire to change, and 2. A willingness
to do what it takes to bring about
that change.”
With that background, she in
vited her audience to take part in a
brief clinical hypnosis experiment
which was designed to get the sys
tem relaxed and rid of stress. A
more extensive use of this type of
clinical hypnosis is used by Ms. Con
stant as a counseling tool to help
people create attitude and behavior
changes, including eating habit
changes for diet control and stop
ping smoking, and including stress
management, confidence-building,
goal setting, memory and study
habits. The success of her brief test
Digitized Nfor
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with the bankers was attested to by
the responses when she asked later
how long the “test” ran. The answer
ranged from five minutes to 12
minutes. The actual elapsed time
was 24 minutes.
Hypnosis wasn’t needed to en
courage the 175 registrants to at
tend all the sessions. An outstand
ing cross-section of marketing offi
cers and consultants offered a pro
gram replete with usable ideas for
every size bank. Carole Custer, vice
president and marketing director,
Brenton State Bank, Jefferson, pre
sided at the conference as chairman
of the 1984 IBA Marketing Commit
tee.
Laird Landon, head of Laird Landon Consulting, Inc., Humbel, Tex.,
set the stage with the opening pre
sentation, “Completing an Effective
Audit of Your Marketing Depart
ment.” He went into details of what
makes up such an audit-environ
ment, planning, organization, pro
ductivity, marketing function; the
benefits to be gained from the audit,
then concentrated on how the actual
audit can be carried out. He con
cluded with ways the audit can be
used to provide a focus for market
ing improvement, to educate senior
management, and to improve the en
tire marketing function.
Speaking at the noon luncheon,
Bruce Meriwether, president and
chief executive officer at First Na
tional Bank, Dubuque, said, “No
function in the 1980s and 90s will be
as important in the bank as market
ing. How you communicate that to
your top management will have dra
matic effect on your bank. Too many
marketing people don’t bother to

academically understand the busi
ness they’re in. They know advertise
ing and marketing, but not banking;
therefore, a gap exists between them
and the CEO. The CEO is very con
cerned about A/L management,
spread volatility, competition w itl#
non-bank banks—so, if you want to
have a meaningful dialogue and
want to be a key management play
er, learn the banking business.”
Steve Barger, vice president-mar#
keting for Hawkeye Bancorpora
tion, Des Moines, told his audience
that “Comfort Zone Selling” means
determining the abilities or limits of
each employee, then fitting them in#
to the proper place in the sales-oriented organization needed to com
pete in the banking market of today
and tomorrow. Commitment by
management is essential in the sale^
effort, he said. The marketing direc
tor can develop the “Comfort Zone
by orchestrating the variables that
can be personalized with each em
ployee-sales method, time/respon®
sibility, products/services, sales
aids, training, incentives, monitor
ing. “The key to training,” he said,
“is a willing learner.”
Dennis Driscoll discussed “Mar®
keting Results Through Rewards
and Recognition.” He is director of
the business development division
for Financial Institution Services^
Inc., Nashville, Tenn. “Selling is th *
successful completion of a series of
tasks or steps,” he pointed out. Nec
essary to these are three keys for
long-range performance: m e a su r^
ment, training and recognition. Mr.
Driscoll said the goal must be clearly
outlined for staff, it must be measur
able, have a value, determine how
much of the value you’re willing t ^
share with staff, and then determine

IF AN IRA
HASN’T RELIEVED THE
PAIN OF YOUR CUSTOMER’S
TAX BITE,
AN

ID EA A N N U ITY

• G iv e s ta x a d v a n ta g e s n o w — in te r e s t e a rn e d is ta x d e fe rre d .
• O ffe r s e x c e p tio n a l s a fe ty fo r b o th p r in c ip a l a n d in te r e s t.
• E a rn s in te r e s t a t c o m p e titiv e ra te s .
• P ro v id e s a c c e s s to m o n e y w h e n n e e d e d . ( In te re s t w ith d r a w n
m a y be s u b je c t to ta x .)
• G u a r a n te e s a r e tir e m e n t in c o m e fo r a life tim e . (O th e r p a y o u t o p
tio n s a ls o a v a ila b le .)
F o r M o re In fo r m a tio n C o n ta c t M a rg ie S c h a e fe r, C LU a n d V ic e P re s id e n t

Iowa Bankers Insurance and Services, Inc.
1-800-532-1423 or (515) 286-4366
(U n d e rw ritte n by A m e rica n R e p u blic Insurance C om pany o f Des M oines, la.)

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N orthw estern Banker, March, 1984

Iowa News

L E F T — Mktg. Comm, member D a v e P ik e (left), v.p., Hawkeye Capital B&T, Des Moines, reviews a microcomputer program with speaker
N e il S t a d lm a n of FBS Ag Credit Corp., Ames. RIGHT— M a r k M a s e r , mktg. off., 1st Natl., Le Mars, visits with conference speakers M a r i l ^
P o h o r s k y , mktg. off., State Central Savings, Keokuk, and D a v e H o lu b , v.p., Security Natl., Sioux City. Mr. Maser and Mrs. Pohorsky are

members of the IBA mktg. comm.

if that is worth it to staff to achieve.
Bruce Alexander, vice president
of First National Bank of Boulder,
Colo., drew on his experiences to
stress the importance of pricing fac
tors—knowing the product and its
value, having a pricing development
committee and a monitoring system
that will follow through with price

changes if and when needed.
Other special talks were given by
Dr. Roger Seibert, vice president of
the futures research department at
Security Pacific Bank in Los Ange
les, whose talk was “Futuristic Out
look,” and Ed Tucker, vice presi
dent-sales development, Citizens &
Southern National Bank of South

Carolina, Columbia, whose topic for
a special afternoon session was
“Systematic Cross Selling.”
f)
A series of six workshops and a
show and tell session gave bankers
an opportunity to hear about suc
cessful marketing programs being
conducted at other banks.

Leslie Olson Organizes
Financial Consulting Firm

Chapter of AIB and served as AIB
associate councilman for Iowa. He
also taught AIB classes for six
years.
In his work at Toy National, Mr.
Olson progressed from assistant
cashier to cashier, then in 1965 was
elected vice president in charge of
the bank’s investment portfolio and
the correspondent bank division, po
sitions he held until his election as
president in 1972.
Mr. Olson was graduated from
the Graduate School of Banking at
the University of Wisconsin, Madi
son, in 1959. He completed the Inde
pendent Bankers Association of
America M.D.B. Course at Harvard
University and is accredited by the
American Bankers Association as a
Certified Commercial Lender.
In other banking activities, Mr.
Olson served twice as president of
the Sioux City Bankers Association.
After serving as a member of the op
erations and legislative committees
of the Iowa Bankers Association, he
was elected president of the IBA for
the 1979-80 year. He was also a
member of the original board of the
Iowa Automated Clearing House
Association and was a director of
the Iowa Independent Bankers.
Civic work also has claimed a
share of Mr. Olson’s busy schedule.
He has served as president of the
Sioux City Chamber of Commerce,

as a director of Morningside College,
and was a charter member of t l #
Sioux City Community Theater, tak
ing parts in more than 20 produc
tions and directing two shows.

Leslie H. Olson, a widely-known
Iowa banker with more than 39
years of banking experience, has or
ganized a financial consulting firm
to serve banks, businesses and indi
viduals.
Mr. Olson was born in Sioux City
March 13, 1927, and spent his entire
banking career
at Toy National
Bank in Sioux
City. He joined
the bank in Jan
uary, 1945, and
worked in all de
partments of the
bank, including
the trust depart
ment. He joined
L.H. OLSON
the bank’s board
of directors in January, 1971, and a
year later was elected president and
chief executive officer on January
18, 1972. Mr. Olson continued in
that position until a year ago, and
left Toy at 1983 year-end to organize
his own business.
Mr. Olson was very active in edu
cational affairs of banking and in the
Iowa Bankers Association. He was a
noted student in American Institute
of Banking, from which he received
a Graduate Certificate. Later, he
was president of the Sioux City

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Advanced in Stanton
Security State Bank of Stanton
has advanced Lorraine Bergren and
Mary Donohue to assistant vit^
presidents. Promoted to assistant
cashier were Marilyn Rubel and Gar
net Requist.

Two Promotions Told

Kristin E. Summerwill has been
promoted to marketing officer and
Pamela S. Passmore to administra
tive officer of Iowa State Bank &
Trust Company, Iowa City.
w

Promoted in Hartwick
Brian Veach has been promoted
to cashier of the Hartwick StatO
Bank, according to Howard A. Ol
son, president.
Mr. Veach joined the bank in 1981
and is a graduate of Iowa State
University.
•

DeWitt Bank Adds One
DeWitt Bank & Trust Company
has announced the addition of Johjp
Volkman as vice president.

Iowa News

^/lount Vernon Bank & Trust
Celebrates 100 Years
Mount Vernon Bank and Trust
Company celebrated its 100 th anni
versary January 21 with an open
t^ouse.

The bank was founded in 1884 as
a partnership of William Smith and
Dr. James Carson, with a capital of
$10,000. As of September, 1983, the
mank had deposits of $24 million.
Jay A. Fordyce, current president
and trust officer, joined the bank in
1935 and has been serving in his cur
re n t position since 1968.
w The bank’s most recent addition
was an ATM.

Wapello Officers Promoted
• Promotions of the following offi
cers were made in January at State
Bank of Wapello: A.T. Wollenhaupt
was named chairman; Bernard P.
Parsons, president; Kent A. Wollen# Aaupt, executive vice president; Wil
liam C. Small, senior vice president
and trust officer; Lottie J. McConahay, cashier, and Deanna S.
Connolly, assistant cashier.
® Newly elected directors are
Wayne Gieselman, Robert Pogemiller, Harlan Hayes and Bernard
Parsons. W.P. McNeil and Oran
Hayes, 37-year directors, retired re
cently.

guests at Norwest Bank Des Moines’ recent luncheon for international busi
ness guests were, from left: G e o r g e M illig a n , pres., Norwest Bank Des Moines, N.A.; speaker
W . W illia m C h a r lt o n , v.p. & genl. mgr., Norwest Bank International, Miami; P ie r r e J . H e rz d o r f e r , v.p. & mgr., internatl. bkg., and D o n L e M e s s u r ie r , 2nd. v.p.-internatl. bkg., both with
the host bank in Des Moines.
W E L C O M IN G

Norwest Hosts International Luncheon
PPROXIMATELY fifty central Iowa business executives whose firms
A
are involved in international trade were luncheon guests recently of the
international banking department of Norwest Bank Des Moines, N. A. Host

ing the affair were George Milligan, president, and Pierre Herzdorfer, vice
president and manager of international banking.
Guest speaker A. William Charlton, vice president and general manager
of Norwest Bank International in Miami, discussed the services his bank
can offer midwest businesses through the various Norwest banks in this
area. He said Norwest’s Edge Act bank was opened in Miami 15 months
ago. It has nine staff members with 70 years of banking experience. All but
one, he related, are fluent in two or more languages.
Establishing the bank in Miami was decided, Mr. Charlton said, “because
it gives us an opportunity to meet more easily with our Central and South
American contemporaries, as well as to visualize and understand the oppor
tunities and problems in those countries.’’
Maquoketa State Offers
Mr. Charlton also gave a brief review of the import and economic outlook
Lease Financing Service
in the various Central and South American countries, then responded to
® Florian Steffen, senior vice presi questions.
dent of the Maquoketa State Bank,
announced that the bank is now pro
viding lease financing services.
cial loans at Citizens National Bank in Thurman to 900 Illinois in Sidney,
Mr. Steffen stated that the bank in Boone, where he has been the past and to operate its Thurman office as
Tecognizes the value and significant five years. He also served on the a branch of the bank.
impact that high interest rates have Iowa Development Committee six
on an agricultural trade area such as years.
Jackson County. The bank’s new
Mr. Griggs has been with Hawk- Elected in Burlington
leasing department can greatly re- eye Bancorporation 16 years, the
Farmers & Merchants Bank &
auce the impact of high interest last five as president in Spencer.
Trust, Burlington, has elected
rates when a farmer, businessman or
William A. Kuehn, vice president
professional person needs to replace Advanced in Storm Lake
and farm representative, and
or add new equipment.
Citizens First National Bank in Leonard W. Lane, vice president and
Storm Lake has advanced James E. comptroller, to the board of direc
Spencer President Named
Jorgensen from assistant vice presi tors.
Jeffrey Burgus has been elected
Steve Afdahl has been elected dent to vice president and Danny loan officer at the bank’s Oakville of
Richardson
from
assistant
cashier
president and CEO of Hawkeye
fice.
£ a n k & Trust in Spencer. He suc to vice president and farm manager.
ceeds William Griggs, who has
Adel Director Named
resigned to accept the position of Thurman Application Filed
president and CEO of First National
United National Bank of Iowa,
Robert F. Baur, a Madison Coun
Bank in Alamosa, Colo.
Thurman, has filed with the Comp ty farmer, has been elected to the
£ Mr. Afdahl had been serving as troller of the Currency to relocate its board of Brenton Bank and Trust
executive vice president in commer head office from 800 Filmore Street Co. of Adel.

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Iowa News

A T G R O U P 1 (left photo, from left)— B ill H e s s , secy. Gp. 1 and chmn. of Iowa Sav., Coon Rapids; K a t h y H a r b e c k , secy./treas. S.C. Bankers
Assn, and exec, secy., Security Natl., Sioux City; A I M a s e r , pres, of IBA and pres., 1st Natl., Le Mars; G e n e H a g e n , pres. S.C. Bankers Assn,
and pres., Security Natl., Sioux City, and B r u c e M . K o lb e , chmn. Gp. 1 and pres., United Central Bank, Sioux City. RIGHT—Northwest Iowa
NABW officers and speaker guest (from left): D o n n a W illia m s , a.c., Sloan State, treas.; R u t h a n n S c o t t , a.v.p., Early Sav., vice chmn.; S h ir le y
P o e r tn e r , trng. off., United Central Baneshares, Des Moines; R o m a K r o ll, a.v.p., 1st Natl., Sioux City, chmn., and S h a r o n J o h n s o n , v.i^
Holstein State, secy.
•

At Group 1 and 11 Meetings:

Pres. Maser Calls for Legislative
Consensus—or “endure more pain”
He said Merrill Lynch and Ameri
can Express, for example, “have
found out what customers wanted,
President A1 Maser stated, “ It is found every loophole to provide
time for a consensus among banks. those services and products, and
Each bank has its own imperatives, now the level playing field we
but we need a consensus with the sought has too many players! There
legislature. Bankers don’t seem to is no safe route back to the good old
realize the competitiveness yet of days. We must find our own niche,
those new competitors. They do not and how to compete. We must find
feel enough pain—it doesn’t hurt the partner to help us do that and
enough yet. When it does, we’ll be at the IBA is the best answer.”
our Congress seeking the freedom to
Mr. Maser said “banks with no
compete that we’re seeking now—a plan can be lost. We need running
price and a right to belong to the shoes not only to outrun the com
free enterprise system.”
petition, but also to survive. With
Mr. Maser, who is president of out a strategic plan you will be lost.
First National Bank in Le Mars, You must plan. Build on past
said the profitability of banks in for strengths. Learn what and how to
mer years resulting from their pro change. Learn where you fit in. Do
tected, well-regulated position, “has ing nothing may seem right, but
led to very much complacency. That those who do nothing will miss
position now is eroding with new, everything. One survey tells us that
unregulated competition,” he said. 40% of independent banks will
“ In the past, all banks were winners. disappear; only one-half of our banks
Now, we’ll have a new batch of win will survive. This may or may not be
ners and, for the first time, a new true, but we must plan now to be a
survivor.”
batch of losers.”
d d r e s s in g

the bankers of

A Group 1 and 11 in Sioux City
and Burlington last month, IBA

Tom Huston, Iowa superinten
dent of banking, gave a brief report
on eight items:
_
1. The two-year old lawsuit
against brokerage firms for gather
ing deposits and shipping them outof-state to other institutions, is still
in process. That suit maintains th ^
brokerage firms are gathering d ^
posits without a proper license as a
bank, as stipulated by Iowa law.
2. The Omaha National BankFirst National Bank of Counci
Bluffs deal, in our opinion, is not
within Iowa law or federal law. We
have contested it. The Fed ruled in
favor of the banks. We asked for re
consideration., the Fed refused. I t ’^
now in the court (8 th Circuit, St.
Louis).
3. The Banks of Iowa-First Bank
System proposed deal has spread
over two years and still no decision
by the Federal Reserve. We have a
letter from the Fed counsel saying it
does not meet Fed guidelines, and
they’re trying to make it fit.
4. Security State Bank of Better0
dorf was taken over December 24.
An agreement has been reached and
approved by shareholders for a pro
fit and assumption by First Trust &
Savings Bank of Davenport (Q

L E F T — D ic k T a y lo r , pres., 1st Natl., Sioux City, and J e a n n e t t e , with D e lo r e s and A I M a s e r , pres, of IBA
RIGHT—J im S h e e h a n , pres., Farmers Sav., Pierson, and M r s . S h e e h a n , with C a r o l J a c o b s o n , Sioux City,

Natl., Sioux City.

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and pres., 1st Natl., Le Mar^
and G a r y S t e v e n s o n , v.p., 1W

Iowa News

L E F T — K a y B a c k m a n , a.v.p.,
B e n E ild e r s , sr. v.p.,
M a s e r , ag. In. off., 1st Natl.,

^ y , and

L E F T — M ik e M o e lle r , pres.,
M a t t M o y e r (left) corr.

with

Bankers Trust, Des Moines; D a v id P. C la u s s e n , pres., 1st T&S, Galva; T o m V a n D y k e , v.p., Toy Natl., Sioux CiBankers Trust, Des Moines. RIGHT—J o e R o a c h , farm mgr., Security Natl., Sioux City, and J e n n if e r ; T o m
Le Mars, and L is a , and S te v e H a t z , v.p., Security Natl., Sioux City, and P a m .

Norwest Bank Sioux City, and G o r d o n M e n n e n , pres., Le Mars Sav. RIGHT— L in d a
bk. off., and B ill D e w h u r s t, 2nd v.p., both with Norwest Bank Omaha.

W ilh e lm y

of Whiting visits

L E F T — D r. R o y P a r k , pres., Applied Management Associates, Ltd., Ankeny, la., makes a point in his address at Gp. 1 in Sioux City.
RIGHT— C o lle e n and R ic h B r e y fo g le , v.p., Toy Natl., Sioux City; S u s a n P r e s c o t t , registered rep., and H e r b O ls o n , acct. exec., both with
M.H. Novick & Co., Minneapolis.

iW
v.p., Merchants Natl. Bk., Cedar Rapids; D o n V a u d t , exec, v.p., Toy Natl. Bk., Sioux City, and G a r y
Jßkrs. Ins. & Serv., Des Moines. RIGHT— E d B a tc h e ld e r , United States Checkbook Co., Omaha, visits with S h e r r y and S t a n
Toy Natl. Bk., Sioux City.
L E F T — S ta n F a rm e r,

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L iu e s a y , v.p., la.
F r e d e r ic k s , v.p.,

N orthw estern Banker, March, 1984

78
Iowa News
Banks of Iowa bank). We hope it’s
behind us soon.
5. Bloomfield has cost us a lot of
time and money. This probably has
cost our staff 10-15 bank examiners.
Iowa state chartered banks are not
paying for this. We bill the receiver
ship. Just think about the fact that
the private Bloomfield bank was to
tally deregulated. Generally speak
ing, it started to go wrong the day it
started business. It just took some
years to take place.
6 . Of the total capital accounts of
the 400 plus Iowa state chartered
banks examined, 39.43% are classi
fied. The capital/asset ratio is climb
ing and Iowa now averages 9.76% to
assets. The loan/deposit ratio has de
creased to 53.33% for state banks.
Past due loans are 5.1% of the total.
One of our concerns is the state of
agriculture. I ’m afraid many people
in our state don’t realize the severity
of the problem. Many farmers have
not made a profit for years. Another
concern is ag financial statements.
Too often they figure the value of
the land, then add on another
$500,000 for improvements, and
later you find those improvements
didn’t help.

Photos from
Group 11
Meeting in
Burlington

Chmn. J o h n F. O ’ N e ill, pres., 1st.
Natl., Burlington, with Group Secy. W m . R.
B e r n a u , pres., Peoples Savings, Crawfordsvi Ile.
G R O U P 11

7. Interest rates. We understand
the problem but, in fact, we’re pay
ing too much for money. With the in
flation rate at 4% it’s a bonanza for
customers to get a 9% payment.
8 . In general, the banks of lo w #
are doing well. They are well-capita
lized. There is no one we’re aware of
who is on the brink of disaster. More
of you have problems than at any
time since the depression. This call#
for a steady hand on the throttle and
a cool head.
“We have not told our examiners
to lighten up or tighten up. We want
exams to reflect the situation th #
way it is; otherwise, we can’t pro
perly do our job,’’ Mr. Huston con
cluded.
Neil Milner, IBA executive vice
president, gave a brief overview oQ
IBA activity and legislation. “I
don’t know of a time when state and
federal legislation have had such an
impact on our industry,’’ he ob
served. He gave a brief rundown oiP
various pieces of federal legislation
pending, all of which were subject to
committee review, or needed intro
duction before they could be con
sidered officially. He covered pen^
ding state legislation also, reviewing

L E F T — D o r is and D a n K e lle y , pres., Danville Sav., with M a x in e and B o b B u e n n e k e , v.p., Norwest Bank Des Moines. RIGHT— D o y le R u b le ,
J im O ’ N e ill, a.v.p.; J e f f W e s t b r o o k s , branch mgr., and J e r r y E c k e r s o n , v.p., all with Hawkeye B & T , Burlington.

exec, v.p.;

L E F T — J o h n M a n g o ld , sr. v.p., Merchants Natl., Cedar Rapids; M a r c i a H o ls t , 1st Natl., Fairfield; J a m e s T u r n e r , dir., 1st Natl., Fairfield,
P a u l G a r g u la , corr. bkg. off., 1st Natl., Chicago. RIGHT— M ik e A u s t in , v.p., and K e n D a n ils o n , v.p., both with United Central Bank,
Moines, with C h a r le s H e ls c h e r , v.p., and R a n d y Z d e n e k , ag rep., both with Farmers Savings, Keota.

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ancL
D eP

Iowa News

ing will be given by Marlys Harris,
feature writer for Money Magazine.
Ms. Harris, who has written on vir
tu a lly all a sp ects of fam ily
finances, will address “Managing
Your Finances.”
The evening will conclude with a
terrace reception at the Marina Inn.
Tickets will be $17.50 per person. To
confirm your reservations for this
timely event, call or write to: Pamela
Miller, Security National Bank,
Sixth & Pierce Streets, Sioux City,
Iowa 51101; or phone (712) 277-6731.

Ihe special bulletins IBA sends
"veekly to CEOs of each member
bank. At Burlington, he gave a sum
mary of discussions held late the
preceding week in Washington at
Ih e ABA Leadership Conference.
® Officers of both Group 1 and
Group 11 carry over until 1984,
when new officers will be elected in
an odd-numbered year.
^ The Northwest Iowa NABW
Tlroup again met for a breakfast
meeting during the Group 1 meet
ing. Shirley Poertner, director of
training for United Central Bancgjhares, Inc., of Des Moines, was
principal speaker, reviewing “Edu
cational Opportunities” available to
bank women, as well as to men in
banks.
ft The Sioux City Clearing House
Association hosted the buffet recep
tion the night before the business
session. At Burlington, Group 11
followed custom with a poolside
Reception at Holiday Inn, followed
by a buffet dinner and then dancing
until midnight.
□

Advanced in Osage

Sioux City Bank Hosts
7th Financial Seminar

Jeannette A. Brumm has been
promoted to assistant cashier of The
Home Trust and Savings Bank in
Osage.

Security National Bank of Sioux
City will present its Seventh Annual
Financial Seminar, “For All You’re
# /o rth ” on Thursday evening, April
5, at the Marina Inn in South Sioux
City.
The program will begin at 7 p.m.
with Dr. V. Hale Starr’s presenta
r o n on “Communicating Effectively.” Dr. Starr, president of Starr &
Associates in Des Moines, is an ex
pert in the field of nonverbal com
munication and will demonstrate
^iany ways in which you can im
prove the image you project to
others in your business and personal
life.
Her presentation will be followed
™y Andrew Tobias, noted financial
author and speaker, who will share
his financial strategies in “The Only
Investment Guide You’ll Ever
Need.” The author of the book by
" ie same name and “How To Get By
On $100,000 A Year - And Other
Sad Tales,” will explain how
average consumers can make in
a rm e d decisions when it comes to
investing money, and end up doing
as well—or better—than many socalled “experts.” He will have a
question and answer session after
^ is presentation.
The final presentation of the even

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Federal Reserve Bank of St. Louis

Promoted in Edgewood
Timothy Brown recently was pro
moted from agricultural loan repre
sentative to assistant vice president
and agricultural loan officer of Com
munity Savings Bank in Edgewood.
He joined the bank in 1983.

Odebolt Promotions Told
Duane Schofield, president of
Peoples State Bank in Odebolt, re
cently announced the promotion of
Joan Simpson to cashier. She had
been serving as assistant cashier.

Le Mars Promotions Told
Following the annual meeting of
Le Mars Savings Bank, the follow
ing staff promotions were made:
Robert W. Scheitler to vice presi
dent; Ross G. Haren to assistant
vice president; Gary L. Mennen to
cashier; Ann M. Schulz to assistant
cashier, and Carol M. Schmitz to
assistant cashier.
J. SIMPSON

J. ULLRICH

Also at the bank, Jeff Ullrich, as
sistant vice president, has been
named to the additional post of of
fice manager of the bank’s Kiron of
fice.

Committed to
making your
bank stand
apart from the

N orthw estern Banker, March, 1984

Iowa News

P IC T U R E D from left is: D a le D o o le y , pres, of ITS, Inc.; J. R o b e r t B ru b a k e r , pres, of NACHA and sr. v.p., Equibank, Pittsburgh, Pa., and J im
M ille r , vice chmn., ITS, Inc., and chmn., Pioneer Valley Savings Bk. in Sergeant Bluff. RIGHT: Nationwide EFT Panel members include R o n
R e e d , adm. mgr. of Plus Systems, Inc. (standing); H e n r y M u n d t , sales mgr. of CIRRUS Systems, Inc., and P a u l K r a m m e , pres, of Nationet.

EFT Conference Well-Attended
By BECKY McBURNEY
Associate Editor
ILD TEMPERATURES and a
M
well-organized, informative
two days greeted the close to 200
bankers and financial institutions
personnel attending the ITS, Inc.
1984 EFT Conference held last
month in Des Moines. Much unlike
last year, which saw 10-15 inches of
snow fall the day before the confer
ence, this year's conference was well
attended, and enjoyed by all.
The first day of the conference
consisted of a well-orchestrated ser
ies of technical seminars for those
banks and financial institution per
sonnel directly dealing with the elec
tronic funds transfer area of their in
stitutions.
Gayle Welter, ITS manager of in
formation and customer service,
gave a brief review of some perti
nent ITS statistics. There are 911 in
stitutions on the system, of which
572 are banks, 320 are credit unions
and 19 are s&ls. Of these, 234 are ac
tive, including 196 banks, 23 credit
unions and 15 s&ls. This compares
to 186 active one year ago. Also, the
511 active terminals compares with
393 a year earlier. They are located
this year in 109 communities, with
101 in Iowa, three each in Nebraska
and South Dakota and one each in
Illinois and Missouri.
In January, 1984 ITS switched
772,321 transactions, compared to
480,203 a year ago. In all of 1983
there were more than 8 million tran
sactions switched, out of a total
ATM volume of nearly 30 million.
J. Robert Brubaker, president of
NACHA and senior vice president of
operations, data processing and

N orthw
estern Banker , March, 1984
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Federal Reserve Bank of St. Louis

bank services at Equibank, Pitts
burgh, Pa., opened the second day of
activities with a history of NACHA.
Mr. Brubaker feels from here it is
only onward and upward. Volume is
growing every day along with aware
ness in financial institutions and
awareness of the problems of ACH.
“Private sector processing is in
evitable in some form, but,’’ Mr.
Brubaker added, “NACHA must be
careful to stick by its rules and regu
lations in this area.”
Next on the agenda, George Warfel, Sr., a consultant specializing in
security and personal identification,
reviewed various customer verifica
tion techniques, including finger
printing, palm printing, voice ID,
examining the back of the eye, sig
nature dynamics and various kinds
of card identification. Mr. Warfel
concluded by saying the crook of
tomorrow is not the one with a gun,
it’s the person sitting quietly at a
computer, after the bank is closed,
accessing its funds electronically.
Immediately following lunch,
John Chrystal, chairman and presi
dent of Iowa Savings Bank in Coon
Rapids, talked to the group about
his recent trip to the Soviet Union.
The bulk of the afternoon was filled
with presentations by a panel con
sisting of Ron Reed, administrative
manager of Plus System, Inc.; Henry
Mundt, sales manager of CIRRUS
Systems, Inc., and Paul Kramme,
president of Nationet, Inc. After a
history and review of each panelist’s
organization, the floor was opened
for questions. In the discussion that
followed, Dale Dooley, president of
ITS, commented that ITS is inter
ested in negotiating towards an ar
rangement with Plus, and that ITS is

iQi'»

very close to signing an agreement
with CIRRUS through Norwest Cor
poration.
When addressed the question, <{|
“What are the desirable aspects and
drawbacks of linking the three net
works?” Mr. Reed (Plus), com
mented that Plus has prohibition
with other systems, because of the %
fear of government intervention. He
explained the reasoning by saying
as the systems ultimately join, be
coming one national network, gov
ernment intervention would be in- fl)
evitable at that point.
Mr. Kramme (Nationet) didn’t
perceive the linking of the networks
to be a problem. Technically, he
said, the desirability is keyed in with 0
POS for complete access for the con
sumer, and that is the key, to please
the consumer.
Lastly, Mr. Mundt’s (CIRRUS)
comments were that we must look at •
sharing, especially with the on
slaught of point of sale. He feels
ATMs will become a thing of the
past with the increase of POS.
The Friday afternoon session con- •
eluded with John C. Holloway, mar
keting consultant for Electronic
Funds Illinois (EFI), who gave a
humorous talk/slide presentation on
how his bank used the ATM as a so- ®
lution to its problem, and other suc
cess stories and failures in the use of
ATMs.
□

Promoted in Wyoming

•

At the annual meeting of Citizens
State Bank of Wyoming, James D.
Eichhorn and David C. Butterworth
were promoted from assistant vice ^
president to vice president and
elected to the board of directors.
Lucile J. Von Sprecken and Geral
dine F. Levsen were promoted from
assistant cashiers to assistant vice £
president.

Iowa News

JJhree Promoted in Ankeny
Kenneth W. Keniston, president
of Hawkeye-Ankeny Bank & Trust,
Ankeny, recently
announced the
p ro m o tio n of
James W. Anderlik to executive
vice president
and marketing/
^ples manager;
Robert D. Hanes
to senior vice
president and
w ANDERLIK
Laura L. Davis
cashier.

R.D. HANES

L.L. DAVIS

Mr. Anderlik has been with the
bank since 1978 and is a graduate of
li e University of Iowa and the
Graduate School of Banking at the
University of Wisconsin.
Mr. Hanes transferred to Hawkgv-e-Ankeny in February, 1983, from
First State Bank in Chariton. He
will be responsible for the lending
function.
Ms. Davis succeeds Mr. Anderlik
as cashier. She has been with the
oank since 1972, working in the
bookkeeping department and as ac
counting officer.

Promoted at Postville Bank
Mike Kruckenberg has been pro
moted to assistant farm representa
tive of the Postville State Bank. In
^¡idition, Stanley Straate has been
elected to the bank’s board of direc
tors.

Named in Dubuque
® Kenneth J. Erickson has been
named assistant vice president,
commercial loan department, and
Holly S. Piper has been named in
stalment loan officer and branch
Manager of the Plaza Branch of
Dubuque Bank and Trust Company.
Ms. Piper joined the bank in 1968,
most recently serving as assistant
cashier.
® Prior to his new position, Mr.

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Federal Reserve Bank of St. Louis

Erickson was assistant vice presi
dent and branch manager of the
Plaza Branch.

V.P. Promoted at Banks of
Iowa Computer Services
Mark D. Budensiek has been pro
moted to vice president of the mar
keting group of Banks of Iowa Com
puter Services, Inc. in Cedar Rapids.
In his new position he will direct the
activities of market research and
planning, product coordination and

business development.
Mr. Budensiek previously served
with Union Bank and Finance Amer
ica Corporation in California and
joined Banks of Iowa Computer Ser
vices in 1982 as assistant vice presi
dent in marketing division.

Gilman Advancement Told
Kim V. Hulin has been promoted
to assistant vice president at Citi
zens Savings Bank in Gilman. He
joined the bank in June of last year
as agriculture and insurance specia
list.

Anyone Responsible
ForA Half Million
Dollars Shouldn’t Have
ToW ork Two Jobs.

Making
money
is a full
time job.
Unfortunately,
so is manag
ing it.
And most people and companies
are far better at getting rich than they
are at staying that way.
Unless they hire us, Statesman
Investment Advisors.
We work for individuals,
corporations, endowment funds,
pension funds and associations with
manageable assets of a half million
dollars or more.
And we'll manage your assets on a
fee basis, designing portfolios that
are responsive both to the market and

, to your goals
and objectives.
We offer no products,
no insurance
^ and receive no
!. commissions.
All we have to
sell is a staff with 35 years of broad
investment experience and over
$150,000,000 under management.
Want to make your half million
whole? Put Statesman Investment
Advisors to work for you.
Call 515-284-7648.
r

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Suite 804 Des Moines Building
Des Moines, IA. 50309
(515)284-7648

St a t e s m a n I n v e s t m e n t A d viso r s , in c .

N orthw estern Banker, March, 1984

i
A. RIVERS

C.R. STROH

<
(

directors. He currently is president
of Stroh Corporation, a mechanicalelectrical contracting firm in Des
Moines.
* * *
*

Des Moines it
Following the regular quarterly
board meeting of United Central
Bancshares, Inc., Kenneth M.
Myers, president and chief executive
officer, announced the following of
ficer changes:
Mr. Myers was named chairman
and will retain his title as chief exec
utive officer of the corporation;
Oliver H. Hagen, executive vice
president, was named president and
chief operating officer; James B.
Fogt, senior vice president, was
named executive vice president, and
Howard R. Harris, vice president
and controller, was named senior
vice president and controller.

K.M. MYERS

O.H. HAGEN

Mr. Myers has been president and
CEO of UCB since August, 1977, at
the time of its merger with First
Kansas Financial, Inc. of Wichita,
Kansas. He also is chairman of the
board of the lead bank, United Cen
tral Bank of Des Moines. He
previously served as president and
chief operating officer of United
Bancorp of Arizona and as executive
vice president and director of its
banking subsidiary, United Bank of
Arizona.
Mr. Hagen joined UCB in March,
1983, and heads the holding com
pany’s Iowa Banking Division. UCB

N orthw
estern Banker, March, 1984
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Federal Reserve Bank of St. Louis

Leasing Corp, also reports to him.
He had been president and chief ex
ecutive officer of First Bank of
North Dakota, N.A. since 1980, and
from 1975 to 1980 was president and
chief executive officer of the First
National Bank of Willmar, Minn.
Mr. Fogt has been an officer of
UCB since October, 1977, when he
joined the company as vice presi
dent and controller. He was ap
pointed senior vice president in
June, 1981, and has been responsi
ble for non-banking subsidiaries as
well as training and corporate ser
vices. He also served as a senior vice
president, finance and administra
tion, United Central Bank of Des
Moines, N.A., from April, 1980 to
June, 1981.
Mr. Harris became vice president
and controller of the holding com
pany in May, 1980. He previously
had been vice president and control
ler of United Central Bank of Des
Moines, N.A.
Also announced was the election of
Darrell E. Hughes to the position of
loan review officer. Mr. Hughes has
served as an examiner with the State
of Iowa Department of Banking.
* * *

William Ranes has been ap
pointed vice president of the Af
filiated Midwest
Bancs Leasing,
Inc., Des Moines
office at 4900
University Ave
nue, announced
Allen E. Peithman, Sr., presi
dent.
Mr. Ranes will
direct marketing
efforts in Iowa
and surrounding states for Affilated, a midwesten agricultural
and commercial equipment lessor
and member of the Affiliated Mid
west Banc group headquartered in^
Bellevue, Neb.
Mr. Ranes joins the organization
from UCB Leasing Corporation, an
affiliate of United Central Baneshares, Inc., where he worked a nine-'
state region as a leasing officer and
manager of vendor relations.
* * *

George F. Milligan, president and®
CEO of Norwest Bank Des Moines,
N.A., recently announced the follow
ing promotions and additions:
Linda C ollins
Smith has been
named vice pres
ident, loan admin
istration. Since
starting with the
Alan Rivers has been promoted to bank in 1972,
vice president of Hawkeye-Capital Ms. Smith has
Bank & Trust, according to David held several po
sitions in com
N. Walthall, president.
Mr. Rivers joined the bank in mercial banking
1982 in the commercial loan depart and was named
ment. Prior to that time he spent second vice president, correspon
nine years with Household Interna dent banking officer in 1980 and in
loan administration in 1982.
tional.
Keith W. Savery was named vice^
In addition, Charles R. Stroh has
been elected to the bank’s board of president and assistant controller,

* OFFER YOUR CUSTOMERS A N IRATHAT TAKES

• WITHUCB'S SELF-DIRECTEDIRAPROGRAM.
II

•

United Central Bank’s Self-Directed Individual
Retirement Account Program is now available to
your bank, for your customers, through our
existing discount brokerage service. Unlike
traditional bank IRAs that are based on one type
of investment with a fixed rate of return, our SelfDirected IRA program lets your customers trade
stocks and corporate bonds through discount
brokerage or take advantage of any other
investments your bank offers.
UCB’s Self-Directed IRA Program is a complete
package that allows your bank to immediately begin
offering this service to your customers during the
current IRA season. TVaining, forms, advertising
materials and other support are provided to you.

UCB charges no fees to start up this program.
By offering this program at your bank, you
can increase your share of the IRA market,
cross-sell additional services, and obtain a new
source of fee-based revenue without expensive set
up costs for new equipment or additional staff. No
longer should your bank lose existing customers to
brokerage companies because you don’t offer
Self-Directed IRAs.
UCB can quickly and inexpensively help your
bank get started with its Self-Directed IRA
Program. A new service that can take you and your
customers all the way to Wall Street. For additional
information, call Cheral Buhr, UCB Investor
Services, Des Moines, Iowa at 1-800-622-6002.

UNITED CENTRAL BANK
OF DES MOINES. N.A.

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Federal Reserve Bank of St. Louis

AFFILIATED WITH UNITED CENTRAL BANCSHARES. INC.

MEMBER FDIC

LOCUST AT SIXTH • FIFTH AT GRAND • 3400 WESTOWN PARKWAY
35TH AND INGERSOLL • 501 EAST ARMY POST ROAD
(515) 245-7111

N orthw estern Banker, March, 1984

Iowa News

management accounting. He started
with the bank in 1974 as an auditor
and was named vice president in
1982.
Cara K. Heiden has been named
vice president and assistant con
troller, financial accounting. She
joined in 1981 as financial account
ing manager in the controller’s de
partment.
David W. Fuhrmeister has joined

R.D. MAJAVA

K.J. MARX

and Randy D. Majava, retail b a rr
ing; Kurtis J. Marx, accounting, ana
Patricia J. Wilkinson, real estate.
Mr. Cretzmeyer joined in 1981 as
regional credit trainee. Mr. Keith
joined in September of last y ear^i
the commercial banking division.
Ms. Killion started in 1968 and was
named motor bank manager in 1978
and vault manager in 1980. Mr. Ma
java, retail operations manaapsince May, 1983, started with the
bank in 1980. Mr. Marx has worked
as financial analyst for the con
sumer banking division since
August, 1981. Ms. Wilkinson bqp
held several positions in the con
struction and mortgage lending de
partment in addition to FHA and
VA loan interviewer.
William Joseph Ryan, president
and chief operating officer of Palmer
Communications Inc., has been
elected to the bank’s board of direc
tors.

Oxford Elects New Officers*

D.W. FUHRMEISTER

J.J. JENKINS

B.A. MESSER

J.J. CRETZMEYER

N orthw
estern Banker, March, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Newly elected officers of First
Trust and Savings Bank in Oxford
are: Dr. R.J. Hennes, president and
trust officer; Patrick J. Kinney, viH
president, and Robert Kesselring,
P.J. WILKINSON
W.J. RYAN
assistant cashier.
Newly elected to the board was
the bank as second vice president, James T. Hennes of Oxford. He fills
small business banking. He pre the vacancy created by the death
viously was with Brenton National Joe Kinney, former president.
Bank of Des Moines in its loan de
Affiliation Completed for
partment.
Janet J. Jenkins, W. Kent Miller Nevada and Ames Banks
and Ann T. Sokolowski have been
The affiliation of State Bank &
named senior trust officers. Ms. Jen
Trust
Co. in Nevada and First Na
kins started with the bank in 1960
tional
Bank
in Ames has been com
and was named trust officer in 1973.
pleted,
according
to Harold T. Faw
Mr. Miller started as a management
cett
and
Robert
W.
Stafford, pre||r
trainee in 1976 and was named to of
dents
of
the
two
banks.
The affilia
ficer status in 1978. A trust officer
tion
was
originally
proposed
last
since 1979, Ms. Sokolowski joined
spring.
the bank in 1977.
At the annual meeting of Ames
Michael D. Grandgeorge, Steve
National
Corporation, it was im
Hull and Brian A. Messer have joined
ported
that
the two banks have de
as agricultural loan officers. Mr.
posits
totaling
$139 million.
Grandgeorge had been with Federal
Mr.
Fawcett,
Herbert B. Howell
Loan Bank Association in Marshall
and
Marvin
F.
Miller
were elected to
town as vice president and branch
new
three-year
terms
on
the corpoi#manager. Mr. Hull most recently
tion’s
board.
Mr.
Stafford
served as
was with Iowa Lakes PCA in Emchairman
and
Mr.
Fawcett
as vice
metsburg as first vice president and
chairman.
credit manager. Mr. Messer had
been with Oppenheimer Industries
as manager of its Iowa office.
Others promoted to officer status
were:
John J. Cretzmeyer, special loans
officer; David G. Keith, accounting
officer, controllers; Wilma J. Killion

Iowa News

Centerville Promotes Three
At the annual meeting of Iowa
Trust and Savings Bank, Center
ville, B radley
Young, chair€1 man, announced
th e follow ing
promotions:
Jack Maletta
to assistant vice
| | president and
trust officer; Jeff
Young to assis
tant vice presi
J. MALETTA
dent, and Brad

For Correspondent Bank
services, there’s a big
advantage to working with
Valley Bank’s Professional
Bankers.
In fact, there
are two.
These two professionals make up our Correspondent Bank and
Money Desk Departments. We’re not the biggest in Iowa but we
think you’ll agree our service is the best.

J. YOUNG

B. YOUNG, JR.

Young, Jr. to assistant cashier.
The bank is currently undergoing
extensive remodeling. Mr. Young
0 announced that there would be some
realignm ent of personnel. Mr.
Maletta will be in charge of trusts
and computer service.

Promoted in Pella
At the annual meeting of Pella
National Bank, Dena Bokhoven was
promoted to senior vice president
and cashier; Randy Rumery to vice
president-ag loans; Raymond Pothoven to vice president; Marilyn De
Jong to real estate loan officer; Rick
Weber to manager-instalment loans,
and Jeff Vint to manager-investor
center.

Wilton Bank Names One
Wilton Savings Bank has named
m Jean S. Smith assistant cashier and
executive secretary.
Herchal E. Fitzer was recently re
cognized for 25 years as a director of
the bank.
#
Herbert L. Townsend, an area
farmer, was elected to the bank’s
board.
m

Joins ,Mason City Bank

Dennis L. Meek has joined Norwest Bank Mason City, N.A., as
client executive.
He previously was vice president
^ in commercial loans at Norwest
Bank St. Cloud, Minnesota.

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Mark Christen
Vice President and Head
of our Correspondent
Bank Division
Mark Christen is Vice Presi
dent in charge of the Corre
spondent Bank Division. He’s
responsible for helping you
with Overlines, Transit Ser
vices, and Investments.

Dennis Hagedorn
Vice President and
Money Desk Manager
Dennis Hagedorn manages
Valley Bank’s Money Desk.
He’s the one to count on to
help with Federal Funds, Cer
tificates of Deposit, Safekeep
ing, Securities, and Wire
Transfers.

Mark and Dennis make a good team. Both are dedicated bankers.
They’re always ready to give you their undivided attention, regard
less of how small or large your request. And what’s more, they
consider it a privilege to work with you.

There’s Nothing Like Money in the Bank...
The Valley Bank

Valley National Bank its
DES MOINES. IOWA 50304

M em berF D IC

A BANKS OF IOWA BANK

Discover the Valley advantages.
Call TOLL FREE (800) 622-7262 (Iowa, only).
N orthw estern Banker, March, 1984

Iowa News

will also remain as a member of t
board.
A.D. Beeler, president of Unio
State Bank from 1964 to 1982 and a
director since 1958, has retired from
q
his position on the board.

Hills Bank Promotes Two
Hills Bank and Trust Company
has announced the promotion of
James G. Pratt to vice president a r^
controller and Greg R. Hall to assis
tant cashier.
P A R T IC IP A T IN G in the announcement of expanded point-of-sale banking at Des Moines
area Hy-Vee Food Stores were: D a le D o o le y , president, ITS, Inc.; D w ig h t V r e d e n b u r g , chair
Mr. Pratt joined the bank as con
man, Hy-Vee Food Stores, Inc., R o b e r t M ille n , chief executive officer and president, United
troller
in 1981 at the main bank in
Central Bank of Des Moines and J im S c h u lt e , district manager, NCR Corporation.
Hills.
•
Mr. Hall, a 1983 graduate of the
University of Kansas, began his
training
in August of 1983 and will
HE SUCCESS of the 1982 pilot ations throughout the country. Cur
assume
his
duties in the loan deparL
point-of-sale program introduced rently, Hy-Vee will be one of the
ment
of
the
Iowa City office.
^
first
grocery
corporations
in
the
in Hy-Vee Food Stores has resulted
in the planned expansion of the ser world providing this service. Des
vice into seven additional stores. Moines, Iowa will be the leader in Promoted in Tipton
This expansion will provide 83 point- the point-of-sale technology.’’
At Tipton State Bank, Jeff Meyer
Point-of-sale banking is a conve was promoted to assistant vice p re #
of-sale terminals in the Des Moines
nient purchase payment method us ident and Sherri Havel to assistant
area Hy-Vee Stores.
On hand for the expansion an ing the consumer’s electronic bank cashier.
nouncement were United Central ing card at the check-out counter or
Gary A. Kline, president of agri
Bank of Des Moines Chief Executive point-of-sale terminal. The customer cultural Building Services, Inc. and
Officer and President Bob Millen, can use the card to make the pur of Custom Equipment Co., Inc., ht®
Hy-Vee Food Stores Chairman chase; saving valuable customer been elected to the bank’s board.
Dwight Vredenburg and Iowa time, eliminating the need to write
Transfer System President Dale checks or carry excess cash, and pro
Dooley. Mr. Millen pointed to the viding improved customer conve
role that this system will play in the nience. When a customer uses the
future of point-of-sale banking. “Mr. Hy-Vee terminal, the transaction is
Vredenburg, Mr. Dooley and I be routed through the Iowa Transfer
lieve United Central Bank and Hy- System. ITS, Inc. is a switching
Vee’s pioneering of point-of-sale system serving banks, savings and
M A R C H , 1984
banking service will have a major loans, and credit unions throughout AID S e c u ritie s Corp., Des M oines ......................
. . .35
N a tio n a l Bank and T rust, St. P a u l. . .
impact on similar point-of-sale oper- Iowa and several neighboring states. AA mriserican
. . .29
to c ra t Inns. C h ic a g o ........................................

POS Banking Expanded

Addition to Staff, One
Appointed at Toy National
At the January meeting of Toy
National Bank, Sioux City, Don H.
Vaudt was appointed executive vice
president. He has been senior vice
president in charge of all lending
areas of the bank and will continue
to supervise the loan function.
Also at Toy, Dennis L. Larive has

joined the staff as vice president in
charge of asset management.
Mr. Vaudt joined the bank in
1970 as manager of the consumer
loan department. In 1973 he was
promoted to vice president in the
commercial loan department and
was named head of that department
in 1977. He was named senior vice
president in 1983.
Mr. Larive will be responsible for
the investment, accounting, trust
and compliance departments of the
bank. He previously was assistant
vice president and controller at Norwest Bank in St. Paul.

Winterset Promotions Told

D .H . V A U D T

D .L . L A R IV E

N orthw
estern Banker, March, 1984
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Union State Bank, Winterset, has
promoted Elmer F. Lange to senior
vice president. Prior to this promo
tion, he served as vice president. He

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Iowa B ankers Insurance & Services In c ............
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United C e ntral Bank, N.A., Des M o in e s ...........
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James I. Mackay, President (left)
James E. Weiser, Director of Municipal
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Member SIPC

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Weiser spent over thirty years with a Des Moines
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and Vice President in the Investment Depart

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Federal Reserve Bank of St. Louis

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“1983 was a year of change for us here at

“We’ve been a
leader in the
correspondent
banking business.
And we intend to
sta y that way.”
John W Morrison,
Chairman and CEO, Norwest Corporation

Norwest Corporation. Beginning with the
corporate-wide unification under one name.
“To me, that was the cornerstone of our
restructuring. A restructuring of our attitudes,
policies, principles, and most importantly, our
commitment.
“In that restructuring process, Norwest
Corporation has developed a major new
operating group called the Financial Institutions
Group or FIG. This group now functions as one
of the four core business teams within our
organization. And is solely dedicated to the ever
growing demands of correspondent banking.
“This, in my estimation, is strongly
indicative of our commitment to the needs of
correspondent banking. Needs created by the
constant and dramatic changes all across the
financial spectrum.
“Needs that must be responded to on a
level of sophistication never before imagined.
“I view this as a direct challenge to
Norwest Corporation. A challenge we intend
to meet. Head-on.
“Through our new FIG structure, we
intend to apply specific principles of something
we call relationship banking. This, I believe,
will result in better, more comprehensive
service to respondent bankers over longer
periods of time.
“So in essence, our FIG experts will be
able to give respondents a single, stable source
point to meet product and service needs. And
supply them with more attractive and more
competitive pricing, more efficient clearing
operations, and easier access to Norwest’s other
resources.
“It all simply means we’re committed to
becoming your financial resource of first choice.
A choice that will add up to new, more involved
and responsive correspondent banking service
across the board.”
Norwest Banks Members FDIC

Financial Institutions Group

N O R W E S T CORPORATION

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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis