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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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 81 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 https://fraser.stlouisfed.org 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 i: i A BANKS OF IOWA BANK w I to dowththeir time m to readthis ad. That’s why we design our checking programs to run as efficiently as they possibly can. Quickly Smoothly Error free. diMo ildVc I are not. If you would like to », call your Deluxe Representatives.“® * ■ level of your operations:1 D E L U X E C heck Printers, Inc. The difference between a printer and a partner https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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 17 investment survey Area bankers reveal their strategies for 1984 20 Flexibility! Allen Olson says its key to loan restructuring success 21 3 asset-based opportunities John McCauley describes three currently popular approaches 22 Participations David Herrick points to improved profitability 23 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 https://fraser.stlouisfed.org 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. If you’ve been eyeing the lucrative leasing market you know what it would cost. Before you even book your first lease you could pay up to $50-150M for legal research, qualification requirements, data processing programs, promotional materials, and an expanded staff. Yet hundreds of institutions just like yours are getting into leasing. W hat’s the key? The key is Participation Leasing with Collateral Financial Services. With Collateral Financial Services’ help you can add a lease program without adding to your staff. CFS takes care of the billing, collecting, taxes, marketing, documenting, and financial reports. We also provide the training you need to determine the lease contract and the amount 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Open the door to your own leasing program, send in the coupon below, or call CFS today TOLL FREE 1-800/328-4136. COLLATERAL FINANCIAL SERVICES INC. I want to find out how easy it is to enroll in your leasing program. Send me the brochure “How To Tap Into The $150 Billion Leasing Market.” Name________________________ Title________________ Institution_________________________________________ Address___________________________________________ City_____________________State_______ Zip__________ Mail to: C O LLA TER A L F IN A N C IA L SE R V IC E S IN C . NWB-3-84 Corporate Offices 444 Lafayette Road St. Paul, MN 55101 Toll free 1-800-328-4136 6 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis State Conventions & Schools J 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: <||) q 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. 7 Make it easy on yourself! • How does Dawson make selling Multi-Peril Crop Insurance easy on you? By helping you every step of the way. W e’ve prepared a comprehensive training manual which clearly explains writing the M.P.C.I. policy. • We offer complete coverage from any natural disaster in one, easy-to-understand policy. prospered when others have the future with confidence in Peril Crop Insurance, look to solid as the ground you walk been there since 1917. failed. Today, we face our stability. For Multithe company th a t’s as on. Dawson. . .we’ve W e’ll be there for you. We offer your customer the best form of CASH FLOW INSURANCE money can buy. ^ 9 When you become a Dawson agent, w e’ll be right beside you to help. . .every step of the way. That makes things a lot easier for you! THE DAWSON COMMITMENT. . . THREE GENERATIONS STRONG • Dawson Hail Insurance Company has weathered the Great Depression, World W ar II, and today’s biting inflation to become a respected, vital force in the insurance industry. W e’ve survived, grown and P.O. BOX 1820 FARGO, ND 58107 IN NORTH DAKOTA • CALL TOLL FREE: 1-800- 437-4680 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1-800-342-4848 N orthw estern Banker, March, 1984 8 Bank Promotions J 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 FRASER orthw 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. Complete Microcomputer Systems, Software and Service for Banks. The message is simple. As an Apple® Value-Added Reseller and as an IBM® Value-Added Dealer, FSI is your source for Apple and IBM Personal Computers. And, the .hardware you’ve been looking for is backed by a solid reputation within the banking industry for installation, service and support. Turning to FSI also means turning to the leaders in financial software. FSI is the author and publisher of BankDisk® microcomputer software... prog rams that are fast becoming the standard for comparison...programs that demonstrate proven experience in both computers and banking. The growing series of BankDisk software includes the Loan Document Processor, Safe Deposit Box Accounting, Fixed Asset Accounting, Board Reporting, interest Spread Analysis, IRA Proposal and Disclosure, Asset and Liability Management, Agricultural Credit Analysis, Commercial Credit Analysis, and Client Profitability Analysis, with more to come. The Bottom Line gg'nKÙiSK BanKO isK Banktw...I Whether you’re comparing Apples with Apples or Apples with IBM’s, FSI has the system, the software, the service, the support...the solution you’ve been looking for. One cqmpany with all of your micro computer needs. Call today for the personal sales representative in your area. Financial systems, me. Post Office Box 2012 Kearney, Nebraska 68847 Phone: 308-237-5995 Copyright © Financial Systems, Inc. 1984. All Rights Reserved. BankDisk® is a trademark of Financial Systems, Inc. Apple® is a trademark of Apple Computer, Inc. IBM® is a trademark of International Business Machines Corporation. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10 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 FRASER orthw estern Banker , March, 1984 https://fraser.stlouisfed.org 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 11 il» • "Your com m ercial o v e rlin e request is u n d e r consideration" t) ! S t k You’ve heard that be fore, right? A nd too often, w hat it really m eans is, your request has been filed away. Forgotten. Politely ignored. T he corre spondent banker, w ho w as all ears w hen you w anted to talk non-credit services, suddenly isn’t listening. At Continental B ank, things are different. We know commercial custom ers m ean a lot to our correspondents. And our correspondents m ean a lot to us. So if you’re ready to go the legal limit, the least we can do is lend an ear. A nd answ er you quickly. At Continental, you get the decisiveness you expect. A nd deserve. Your credit request isn’t bogged down in red tape. Or held up in committee. It goes directly to your account m anager—the officer w ho can authorize m ost loans. So, you get a decision, fast, from the person who made it. Call Robert B. Holland at (312) 828-6620. Tell him you w ant to discuss com mercial overlines. T hen, start talking. You can be sure w e’re listening. © CONTINENTAL BANK 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 C h ic ag o , 231 S o u th L aS alle S tre e t, C h ic ag o , Illinois 60697 A tlan ta • B o sto n • C h ic ag o • C le v elan d • D allas • D e n v e r H o u sto n • L os A n g e le s *M in n eap o lis *N e w York O k la h o m a C ity *St. L ouis • S an F ra n c is c o • S eattle • W h ite P la in s https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N orthw estern Banker, March, 1984 12 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. 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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 IBAA Travelers Cheque Program Is Booming IBAA Travelers Cheque Pro® gram’s 1983 sales tripled 1982 sales. The IBAA/Barclays/Visa Travelers C heque P ro g ra m exceeded $173,000,000 versus only $58,000,000 for 1982. ® Member participation continues to climb in the innovative program with almost 1,400 banks at 2,400 outlets now participating. Under IBAA’s program, member banks® also participate in the program’s float revenue. Illinois, Minnesota and Michigan lead the field in volume, rolling up sales of 15.9 million; 12.6 million and® 11.9 milion respectively. 15 Discover the knowledge * Cash Managem ent * can bring your bank. n just 30 days, our Cash Management Service and EndPoint Analysis can tell you things you never knew. About your bank and your customers. Find out exactly how long it takes to collect your funds. W hat availability you should give that high volum e account. And a great deal more. The people in our Cash Management Services are experts at fast balance reporting. And more importantly, your availability of funds is accurate, not just an average of past funds. Day after day, our Cash Management Service continues to dig up the kind of facts that lead to increased profitability. Call your United Missouri Correspondent Banker at (816) 556-7900. And discover how much 30 days of free Cash Management Service and an End-Point Analysis can do for your bank. U N ITE D M ISSO URI BANK “ of Kansas C ity, n.a. United we grow.Together. 10th and Grand o P.O. Box 226 o Kansas City, Missouri 64141 o (816) 556-7900 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N orthw estern Banker, March, 1984 16 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 won’t burst at the seams. That’s why Monroe has introduced a » computer with the capa bilities to meet your demands in a growing market. The Monroe System 2000. In fact, it sets a whole new standard for microcomputers. That means larger data storage, communication with mainframes and expandability. And, the System 2000 gives you extra power, with user memory that’s expandable up to 896KB. What’s more, It’s based on the new 80186 microprocessor from Intel, making it one of the fastest 16-bit systems around. Plus, It comes with the most popular operating systems, MS-DOS and CP/M-86.® And application 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 250 nationwide branch offices. And all it takes is a phone call for us to be right in your office. For more information, call 800-526-7843 ext. 444 (in N.J. 800-522-4503 ext. 444). The Monroe System 2000. It’s nice to know there’s a microcomputer that will cure your bank’s growing pains. E MONROE SYSTEMS FOR BUSINESS For leaders.not followers. 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 17 Investment Survey Area bankers reveal their strategies for 1984 A 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 N 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 G reater Less N orthw estern Banker, March, 1984 18 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19 “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 https://fraser.stlouisfed.org 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 20 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 https://fraser.stlouisfed.org 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. 21 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 W ■ 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. https://fraser.stlouisfed.org 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 22 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 https://fraser.stlouisfed.org 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. □ 23 • 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. □ Q https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 26 O In a world filled with ° hardware and software... we offer O O HUiïlfinWfiRE Sometimes the human side of banking is more perplexing than the computer side. That’s why the Human Interest bank offers you Humanware. Humanware . . . people you can count on for quick and concise answers to your banking questions. Humanware . . . people to help you sort out the correspondent or corporate services you need. Humanware . . . people who have the expertise and commitment to help you with everything from cash letter processing to estate and trust services. Jan Kepple N orthw estern Banker, March, 1984 https://fraser.stlouisfed.org 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. the Human 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 https://fraser.stlouisfed.org 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 28 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 . ® 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 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. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 29 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. W 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 30 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Wisconsin News 31 _ 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 D *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 https://fraser.stlouisfed.org 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 https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org 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 34 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 https://fraser.stlouisfed.org 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 https://fraser.stlouisfed.org 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 FRASER orthw estern Banker, March, 1984 https://fraser.stlouisfed.org 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. ^ * * * 37 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? L 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 for FRASER estern Banker, March, 1984 https://fraser.stlouisfed.org 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. * * * ^ ^ 0 £ • • 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 39 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. D (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. https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 42 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 FRASER https://fraser.stlouisfed.org 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— || # # • ® ® _ ^ ^ q 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 43 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« Mi https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 46 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 https://fraser.stlouisfed.org 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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 48 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 DigitizedNfor FRASER orthw estern Banker , March, 1984 https://fraser.stlouisfed.org 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. 49 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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. D (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 50 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 D 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 https://fraser.stlouisfed.org 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 51 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N orthw estern Banker, M arch , 1984 52 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 53 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 ^ j zf 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. D (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 54 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 55 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 https://fraser.stlouisfed.org 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 56 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 D 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 <§ 0 |) « 57 ■HM C O VER IN G T H E R O C K IES ^ W IT H FAST, D E C IS IV E RESPONSE. Colorado National Bank correspondent bankers services, quickly... as opposed to just promising react. Quickly. Responding to your request with them, quickly. It’s a reputation in which we take out delay... or excuses. pride. A reputation we intend to continue. Next time you’re pressed for fast turnaround This high degree of responsiveness has on any correspondent banking situation, call earned us a reputation among our progressive (303) 893-1862. and profitable respondent banks through out the area ... a reputation for delivering And watch how fast we respond. the full range of correspondent banking k c m é ^ (S p ) ^ g IÏÏTI g sm m m COLORADO NATIONAL BANK OF DENVER We make big ideas happen. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis mM < e m b er FDIC N orthw estern Banker, March, 1984 58 itilîÏE 1 INCREASED PROFITABILITY Good question. And at Bandease, we just happen to have six good answers: 1 Equipment leases are generally more profitable to make than conven tional loans due to the tax benefits you can receive. r% BROADER CUSTOMER SERVICE Lk You get an edge on your competi tion by offering equipment leasing as a complement to your existing bank ing services. p.o. box 3128 o m a h a , nebraska 68103 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 and largest bank-affiliated leasing companies in the Midwest, we under stand equipment financing. YOU’RE IN CONTROL YOUR CUSTOMERS SAVE MONEY 6Banclease handles the paperwork - documentation, billing, accounting, Lease rates are normally lower than conventional loan rates, which allows your commercial and agricultural borrowers to conserve working capital. Leasing works. And Banclease can make it work for your bank. Call Scott Morris toll-free, or write today: 2 J banc lease,n c. associated with creating your own leasing department. / N O FEES OR COSTS Through Banclease, you escape the legal, accounting, staffing, m ar keting and operational expenses a etc. - but your customer deals only with you. In Nebraska, 1 800 642-9907 - - In a ll other states, 1 800 228-4411 - - 59 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 60 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. q 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. 61 # 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. Just call to get the answers from one of our six experienced correspondent bankers. Six men with the very latest financial technology at their fingertips dispensing profession al, dependable, confidential service. So call us for the answers to your correspondent banking questions — on electronic data processing, cash letter processing, overlines, fed fund transactions and more In Nebraska, call 1-800-642-9907. Outside Nebraska, call 1-800-228-9533. You'll getthe answers from us, the answer men. « TirSl ROlIOROf DORK of omaha https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member FDIC N orthw estern Banker, M arch , 1984 62 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. D (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. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 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 • * * We’ve got the management tools for the right answers... and better profits. One more reason to call on the Correspondent Bankers from NBC. * NBC has produced a specialized set of software m anagem ent tools for use with todays microcomputers. These packages are designed to serve our client banks and their custom ers in key areas of risk m anagem ent. Programs include our A sset Liability M anagem ent Program and an Interest Margin Program. W e ’ve * developed over a dozen separate packages dealing with subjects ranging from a Commercial Business Forecast Model to an Agricultural Cash Flow Program. NBC offers all the traditional correspondent services, of course, but today the banks w e serve need m ore and so do their customers. * • Call us at (402) 472 4321. Learn m ore about NBC’s approach to correspondent banking. Specialized m icrocom puter software for today’s com petitive financial environm ent is one m ore reason our bank clients say “NBC works for m e.” N SC T h e C o r r e sp o n d e n t B a n k in g D iv is io n o f N a t io n a l B a n k o f C o m m erce 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 64 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 https://fraser.stlouisfed.org 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. 65 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N orthw estern Banker , March, 1984 66 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 t h e e x p e r i e n c e a n d r e s o u r c e s to 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 c o n t a c t B a n k e r s T rust's O p Q I n t e r n a t i o n a l D iv if a c i l it a t e t h e f i n a n c i a l H fr Y a n d d o c u m e n ta r y ■ 1 s io n . T o g e t h e r , w e ' l l o m e G r o w l I C T 1 |C T t a k e o n t h e w o r ld ... a s p e c t s o f d o i n g b u s iC onw & h K W ith Us 11 U w l Member FDIC a n d w in ! n ess o v ersea s. # Bankers o (515) 245-5288 IOWA EX PORT- IM PORT TRADING C O M PA N Y # (515) 245-2464 atom m N orthw estern Banker , M arch , 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 67 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 https://fraser.stlouisfed.org 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 3 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 68 Iowa News Ag Bankers to Meet in Ames Announced in Farley q 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. A Digitized Nfor FRASER orthw estern Banker, March, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis f Over 237 Iowa financial institutions have used Kirk Gross Co. services! Do they know something you don’t? Kirk Gross Co. has a solid reputation in Iowa for designing new financial institutions and remodeling present ones. If you are thinking about a new facility, put the responsibility | Q and worrying in the hands of TURN KEY pro fessionals. We keep up on the latest ideas on planning, designing, construction and furnishings. That’s why we have completed q more than 237 projects since 1971. The best part of this unequaled record is that so many are repeat, satisfied customers. Let Kirk Gross Co. explain how our com plete TURN KEY program will save you tim e and money. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis If you’d like to know what other bankers 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 70 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 FRASER orthw estern Banker, March, 1984 https://fraser.stlouisfed.org 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. D (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. 61. 62. 63. 64. 65. 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 •Managing by the seat o f your pants . could m ean losing your shirt. In the past, banking was simple — buy low and sell high. You could manage on instinct, by ^ the seat of your pants. Unfortunately, deregula tion has sent that philosophy the way of the teller’s cage. With change constant and com petition fierce, bank-management decisions are ^ more complicated and crucial than ever before. A BICS management decision support sys tem can help you meet this challenge. With BICS, you can make decisions quickly — full automation of operations lets you instantly ® gather into one source all information on bank activity; at any moment you can determine the current condition of your bank. You can anticipate and prepare for the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis future by testing your ideas and exploring pos sibilities with on-line financial modeling. You can maximize marketing efforts with our central information system that stores every piece of customer information. A BICS system means you, and all your peo ple, can make more profitable decisions. Which means you get to keep your shirt and order a dozen more. Find out how you can profit; call BICS marketing at (319) 395-6600. H <■ ■ 1(! B I p a 111 mm*. 11 ip Ip Banks o f Iowa Com puter Services, Inc. A "Banks of Iow a" subsidiary. | | I 72 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 FRASER orthw estern Banker, March, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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 73 IF AN IRA HASN’T RELIEVED THE PAIN OF YOUR CUSTOMER’S TAX BITE, AN 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.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N orthw estern Banker, March, 1984 74 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 N orthw estern Banker, March, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis m 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 75 ^/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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N orthw estern Banker, M arch, 1984 76 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. N orthw estern Banker, March, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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 77 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, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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. N orthw estern Banker, March, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 79 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 80 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 https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org 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 81 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 REGISTERED INVESTMENT ADVISORS The Statesman Group, Inc. 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 82 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 https://fraser.stlouisfed.org 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, 83 * OFFER YOUR CUSTOMERS A N IRATHAT TAKES • WITHUCB'S SELF-DIRECTEDIRAPROGRAM. II • 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. https://fraser.stlouisfed.org 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 84 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 85 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 86 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 T v 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 Index of Advertisers Banclease, Inc., O m aha ........................................ B ankers T rust C om pany, Des M o in e s ................ Banks o f Iow a C o m pu ter S e rv ic e s ...................... C o lla te ra l F in a n c ia l Services, In c......................... C o lorado N a tio n a l Bank, D e n v e r ........................ C o m m ercial N a tio n a l Bank, P e o r ia .................... C o n tin e n ta l Illin o is Bank of C h ic a g o .................. . . .5 8 . . .66 . . .71 . . .2 6 . . .11 Dawson H ail Insurance C o m p a n y ...................... Deluxe Check P rin te rs ............................................. Drovers Bank o f C h ic a g o ...................................... ___ 7 . . . .3 24-25 F & M M arq uette N a tio n a l Bank, M in n e a p o lis . F in a n c ia l S ystem s, Inc., K e a rn e y ........................ F irst N a tio n a l Bank, L in c o ln ................................. F irst Bank, M in n e a p o lis ........................................ F irst N a tio n a l Bank, O m a h a ................................. F irs t Bank, St. P a u l................................................. . . .6 5 44-45 . . .61 40-41 G ross, K irk Co., W a t e r lo o .................................... . . .6 9 <D Iowa B ankers Insurance & Services In c ............ Kooker, E.F. A s s o c ia t e s ...................................... . . .8 4 MBU, Inc., O m aha ................................................. M erch ants N a tional Bank, Cedar R apids . . . . M odern B a nking System s, Inc., O m aha ......... M onroe S ystem s fo r B u s in e s s ........................... . . .6 2 . .. .2 . . .1 3 . . .1 6 N a tio n a l Bank o f C om m erce, L in c o ln ............. N orw est C o rpo ratio n, M in n e a p o lis .................. :::« O ffic e C o ncepts, Ltd., W a te rlo o ......................... . . .79 Square Deal Insurance Com pany, Des M oines S tatesm a n Investm ent Advisors, Des M oines Sw ords, Jerry & A s s o c ia t e s ............................... . . United C e ntral Bank, N.A., Des M o in e s ........... U nited M issouri Bank of Kansas C i t y ............. . . .83 V alley N a tio n a l Bank, Des M o in e s .................... . . .85 .12 . . .81 . . .10 « We were bankers before we becam e brokers... and that gives you the investm ent advantage. James I. Mackay, President (left) James E. Weiser, Director of Municipal and Public Finance (right) Member SIPC At AID Securities, Jim Mackay and Jim Weiser know what bankers want from their brokers. Honesty, sta bility, dependability and, above all, knowledge. ing, trading and distribution of tax-exempt securities and U.S. Treasury and Government agency obliga tions, in addition to managing fixed income portfolios. The kind of knowledge that only former bankers have...of your industry and your investment strategy. Knowledge you can trust. AID Securities can offer you services, including: Jim Mackay and Jim Weiser have more than 45 years of combined experience in commercial and investment banking. ■ Underwriting and dealing in midwest municipal bonds ■ Dealing in U.S. Treasury and Government agency obligations ■ Corporate finance ■ Portfolio analysis Mackay’s career includes sixteen years in finance, working in debt syndication and restructurings, leveraged buy-outs, mergers, acquisitions and both private and public placement of debt and equity securities. Weiser spent over thirty years with a Des Moines bank. He served as a Trust Officer, Trust Investment Officer and Vice President in the Investment Depart ment. Jim’s responsibilities included the underwrithttps://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ■ Complete brokerage activities Honesty, stability, dependability and knowledge. The investment advantages from Jim Mackay, Jim Weiser and AID Securities. Des Moines (515) 246-2000 Inside Iowa WATS 1-800-622-6609 A i n S e c u r itie s AID Securities Corporation Suite 380, Capital Square 400 Locust Street Des Moines, Iowa 50309 Contiguous States WATS 1-800-247-4406 “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 mmmmm mmymm https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis