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MARCH 1987 Investment center brings profits • Improving professionalism https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mi Ns« ......... », ' 'jA participant of benchrest rifle competition in his spare time, Terry Martin (left) lends advice to Rollie Cantrell. Great Accomplishments Great accomplishments require determination. Hard work. And sometimes a little assistance. Assistance from someone reliable and experienced. Someone you can trust. Someone w ho can help you see things from a fresh perspective. Terry Martin is a key member of the correspondent banking team at Merchants National Bank. With professionals like Terry plus assets of over $740 million, MNB can provide the financial assistance and teamwork to support your hard work and determination. Together we can accomplish great things. Call Terry Martin at 319/398-4320 or toll free 1-800-332-3991, ext. 320. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Strength Eastern |ow a_ Merchants National Bank Cedar Rapids. Iowa 52401 Member F.D.I.C. is i A BANKS OF IOWA BANK Ä a p!tolfeder*l ^ t e ed Ron Whiteside Capitol Federal Savings Denver. Colorado K iiy ö . ; t L 'I I ? j [ ^*| i ! i 1 1 ! i I1 j j . ' î r ' i ’ * • 1 1!I ,' 1I! , , 1 I ‘ ( s * ¡1 r ^ , 1 J L I “The Plus System: network gave us the technology we needed.” “Before our expansion of ATMs into a major conven ience store chain, we had been with a competing shared network,” relates Ron Whiteside, vice president of Capitol Federal Savings of Denver. “We switched to the Plus System network to take advantage of their technology, experience and customer base. We also wanted to ensure that customer transactions in these convenience store locations were secure. The Plus System* network had the security and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis technology to satisfy our requirements. “The fact that the Plus System® network had the largest customer base and more ATMs in quality locations,” cites Mr. Whiteside, “played a major role in our choice of a nationally, and now interna tionally shared ATM network. Our membership in the Plus System® network has proven to be extremely beneficial to both our association and our cardholders.” Isn’t it time your financial institution joined the Plus System network— the premier choice for inter national ATM sharing? For complete information regarding membership, please contact your local Plus System® member, or call Plus System, Inc. at (303)573-7587. Plus System The premier choice. 4 II NommERN MARCH 1987 • 94th year • Dear Editor No. 1482 “ Opportunity - Caution” MEMBER OF AUDIT BUREAU OF CIRCULATIONS MEMBER BANK MARKETING ASSOCIATION OLDEST FINANCIAL JOURNAL SERVING THE CENTRAL AND WESTERN STATES FEATURES 11 Orlando beckons IBAA More than 2,000 registrants expected for 57th convention 12 Investment centers bring profits Tom Gunderson relates experience of nine North Dakota banks 16 Improving professionalism Janet Myers explains effective sales management 47 “We intend to remain independent” Interview with Bruce Lautizen, a fifth generation banker DEPARTMENTS 20 22 24 29 31 32 33 Illinois Minnesota Twin Cities Wisconsin South Dakota North Dakota Wyoming 36 38 41 42 44 51 61 Montana Colorado Nebraska Omaha Lincoln Iowa Des Moines NORTHWESTERN BANKER 1535 Linden Street, Suite 201, Des Moines, Iowa 50309 Publisher & Editor Associate Publisher Ben Haller, Jr. Robert Cronin Phone (515) 244-8163 Associate Editor Melinda Sauers Diane Nelson No. 1482 Northwestern Banker (USPS 397-620) is published monthly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309. Subscription $2.00 per copy. $24 per year. Second Class postage paid at Des Moines, Iowa. POST MASTER: Send all address changes to Northwestern Banker, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis With the dramatic decline in interest rates, banks are vulnerable to unsophisticated sales people soliciting the latest in high yield investments. Bankers beware. There are a lot of qualified investments out there but there are also a lot of not so qualified securities. The latest security to be approved for some banks is mutual funds. On November 21, 1986, the Office of the Comptroller of the Currency advised national banks that they may now purchase shares in mutual funds. The most popular funds now are the higher yielding U.S. Government Funds. The banks should be aware that these funds have very different characteristics ranging from hedg ing with futures contracts, investing 100% in GNMA’s, or just investing only in U.S. Trea sury Notes. The latter is the most conserva tive and least volatile. Of further consequences are sales charges. The OCC states that a bank must deduct both “front-end sales loads” and “contingent deferred sales loads” in determining market value, if not offset by appreciation. Any sales charge must be reflected as unrealized losses and charged against the banks “undivided profits and capital reserves.” Unless bankers thoroughly review the prospectus they may be surprised at what they own. The above mentioned funds are not legal investments for state chartered institutions at this time. It will only be a matter of time, however, that funds will be possible alterna tive to state bank’s investment portfolios. I think bankers need to remind themselves of the basics: 1) Know who you are dealing with. Invest only with those firms and brokers who are ex perienced with institutional investors. 2) If the yield is too high, there is probably a red flag waving, warning the banker of danger. 3) A bank’s board of directors should re view its investment policy on an annual basis and if necessary, approve investing in mu tual funds, or other investments not before utilized, and this should be reflected in offi cial board minutes. 4) A bank should consider utilizing an out side advisor to over-look the portfolio and current investments. There are far more variations of securities in the market place today than 10 years ago and many are quali fied investments that should be utilized by a bank. It takes someone who is abreast of the current market trends, however, to decide which is the most appropriate. I write this letter only to remind the bank ing community that there are many invest ments they should consider, but only after careful analysis by their board of directors. Cordially, Gregory S. Wolfe Vice President E.F. Hutton & Co Inc Des Moines, la. te® Correspondent Banking Profit from craftsmen. The Correspondent Bank Division at United Missouri Bank has a staff of experienced bankers. Craftsmen. Craftsmen who know the business of handling correspondent accounts. Craftsmen who can help your bank with everything from investment, brokerage and data processing services to bankcards, asset/liability m anagem ent, loans, cash letters/transit and more. So start to profit from our highly skilled people today. Call a United Missouri Bank Account Officer today. UNITED MISSOURI BANK of Kansas City, n.a. Member FDIC P.0. Box 226 Kansas City, Missouri 64141 (816) 556-7900 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 First Wisconsin Corporation Makes Top Management Changes SERIES of top management A changes at First Wisconsin Cor poration and its largest bank were announced recently. First Wisconsin Chairman Hal C. Kuehl said the changes were made in order to as semble the management team that will assume leadership of the Corpo ration following his and First Wis consin President Gary B. Rafn’s planned retirement next year. Directors elected Mr. Rafn, 54, and John H. Hendee, Jr., 61, vice chairman of the corporation, which is Wisconsin’s largest bank holding company. Roger Fitzsimonds, 48, was elected president and chief operating officer, succeeding Mr. Rafn. Mr. Kuehl, 63, remains chair man and chief executive officer. At First Wisconsin National Bank of Milwaukee, lead bank of the corporation, John Becker, 44, was elected president and chief operat ing officer, succeeding Mr. Fitz simonds. He will report to Mr. Hendee, who remains chairman and chief executive officer of the Milwaukee bank. Richard H. Holscher, 58, was named executive vice president in charge of the commercial banking group, succeeding Mr. Becker. Mr. Holscher had been senior vice presi dent in charge of credit administra tion. John Heistad, who was elected first vice president, will succeed him in that role. Mr. Kuehl said the changes were made in anticipation of his and Mr. Rafn’s retirement in March of 1988. —Our 67th Year— THE CROP H A IL PROTECTION FARM ERS PREFER STATEMENT OF CONDITION At Close of Business December 31, 1986 ADMITTED ASSETS U.S. Government B o n d s ........................ Accrued Interest, etc............................... Cash in Bank and Home O ffic e ............ $10,038,347.93 198,538.80 401,281.22 Total Admitted A s s e ts .................... $10,638,167.95 LIABILITIES Reserve for Federal and State T a x e s ................................ $ 68,607.54 1,026,600.00 Other L ia b ilitie s ..................................................................... Total Liabilities ............................................................. $1,095,207.54 Funds for Policyholder P ro te ctio n ....................................... 9,542,960.41 Between now and then, said Mr. £ Kuehl, “One of my major responsi bilities is to ensure we have strong future leadership in place. It gives me a great deal of optimism for our organization to see such a fine team £ of managers as the one assembled here.’’ Charles H. Barrow Joins Blunt Ellis & Loewi, Inc. # Charles H. Barrow, 56, former president of the Northern Trust Company of Chi cago has joined the corporate fi nance division of Blunt Ellis & Loewi Incorpo rated in Chicago as senior direc tor of the finan cial institutions group. As director of the group, Mr. Barrow will be re sponsible for strategic direction of banking services for banks and bank holding companies. He will also q work with the firm’s branch network in the completion of corporate fi nance business. Prior to taking an early retire ment after 34 years of service with f Northern Trust, he was responsible for the creation and management of the Northern Trust’s Capital Mar kets Group. # $10,638,167.95 Securities carried at $400,112.00 in above statement are deposited with public authorities as required by law. SQUARE DEAL INSURANCE COMPANY DES MOINES, IOWA 50308 (515) 282-0497 If)/) / / (/¡ u t l i a l The Carpenters Pension Fund of Illinois, covering the S tate of Illin o is and the eastern h a lf of Iowa, announced to d a y a fin a n c ing program of new and re h a b ilita tio n c o n s tru c tio n pro je cts. The Pension Fund is in te re ste d in provid ing fin a n c in g of co n s tru c tio n and end loans at c o m p e titiv e rates. The servicing of these loans, ranging from $250,000 to $2,000,000, w ill be handled th ro u g h lo cal banks. The program is a vaila ble fo r c o m m ercial and re s id e n tia l pro je cts. For fu rth e r in fo rm a tio n , please c o n ta c t: F rederick A. W estm ark, A d m in is tra tiv e M anager, Illin o is Em ployee B e n e fits C or poration, 28 N orth F irst Street, Geneva, Illin o is , 60134, 312/ 232-7166. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ABA Names Lamar Smith New Chief Economist The American Bankers Association has appointed Dr. Lamar Smith to the newly created position of chief economist and director of policy de velopment, Executive Vice Presi dent Donald G. Ogilvie announced last month. Mr. Smith, 43, is currently serv ing on the Senate Banking Commit tee staff. Between 1981 and 1987, he was the committee’s chief economist with responsibility for oversight of monetary policy. In his new position, Smith will co ordinate ABA research functions, share responsibility for managing the development of long-range poli cy on government relations issues, and serve as the principal ABA spokesman on economic and finan cial issues. He joined ABA on March 1. || £ # # • WHAT HAPPENS TO TOUR RECORDS AFTER THEY LEAVE YOUR BANK? When your records leave the bank, even over telephone lines, anything can happen. Your valuable records are in limbo until you get them safely back. But with your own banking system from Security Pacific Financial Systems, you’re in control. Confidentiality and security are never compromised. Our banking system was designed by bankers for https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis bankers. Security Pacific can probably save you money too. With a service bureau, you pay a fee for each transaction, so the bigger you grow, the more you pay But when you license your own banking system from us, you’ll realize economies of scale. We’re backed by Security Pacific Corporation, with assets in excess of $60 billion. So you know we’ll be around when you need us—24 hours a day 7 days a week. Just say the word and we’ll send you literature, set up a free consultation, or schedule a detailed presentation. Call 1-800/325-1481 or 602/993-5815. Security Pacific Financial Systems A D ivision of S ecurity Pacific Inform ation Systems. Inc. 8 Douglas Austin Plans Regional Workshops for Bankers Survival planning options for Midwestern community banks will be the major topics of discussion at regional workshops sponsored by Douglas Austin & Associates, Inc., a nationally recognized financial in stitutions consulting firm. The workshop, entitled, Survival Planning for Community Banks, focuses upon key issues confronting the nation’s community banking in dustry. Bankers will study and dis cuss strategic planning techniques, acquisition strategies, bank sale negotiation alternatives, bank stock valuation trends and more. “Deregulation of bank products, prices, and geographic constraints has intensified competition within the financial services industry,” ac cording to Dr. Douglas V. Austin, president of Douglas Austin & Asso ciates, Inc. “The impact of these changes upon the community bank ing industry in the midwest and throughout the nation has made strategy development and planning the number one priority for commu nity bank executives and board members,” Mr. Austin noted. will meet on a quarterly basis to pro- # vide the Commissioner with an ob jective, independent perspective on how that tax administration is func tioning. The group is comprised of sixteen professionals: eight new a p -# pointées selected from nominations from across the country, and eight second-term appointees. Mr. Radia is originally from Uganda, East Africa, and attended® Iowa State University where he re ceived his B.S. Degree. He has au thored several articles for the N o r t h w e s t e r n B a n k e r and other Suku Radia Is Named to publications and has been a frequent ® 1RS Advisory Group speaker at professional and civic Suku Radia, Des Moines tax part meetings. ner with Peat, Marwick, Mitchell & Co., C ertified Deluxe Reports Year End i Public Accoun Sales and Earnings tants, has been appointed to the Based on company statements for Internal Reve the year 1986, which are as yet un nue S erv ice audited, Deluxe Check Printers, Inc. Commissioner’s will report record sales of $866 ,' advisory group. 829,404, an increase of 13.4% over Mr. Radia is one last year’s $764,420,743. of the first Peat Net income for the same period Marwick p a rt was $121,109,026, or $1.42 per ners, as well as share, up 16.2% from last year’s ’ the first person from Iowa, to be ap $104,215,336 or $1.22 per share. pointed to this position. The group The company has had 48 consecu tive years of increased sales and 34 consecutive years of increased earn ings, according to Harold V. Haverty, president and CEO. Mr. Haverty announced that di rectors of Deluxe have increased the regular quarterly dividend to 18 cents per share from 16 cents per share on all outstanding shares of would offer us significant the company, effective with the divi benefits. The true value of dend that was payable on March 2 the target was established to shareholders of record at the close ( and its growth and earn of business on February 17, 1987. ings of the future pro The day-long workshops have been specially designed for commu nity bank executives and directors. The programs are scheduled for Sioux City, Iowa (March 17); Omaha, Nebraska (March 18); Des Moines, Iowa (March 19); and Cedar Rapids, Iowa (March 20). Indivi duals interested in registration in formation can contact Douglas Aus tin & Associates, Inc. by calling (419) 841-8521. Expansion. Another reason for selecting Swords Associates. “We were wanting to expand as our holding company debt was down and we held only a small rural bank. We were inter ested in acquiring addi tional banks of similar character. So when a bank in an adjoining county came on the market the Board of Directors were unsure as to the current true market value, so to evaluate our target and to negotiate, Swords Associ ates was called. Time was vital and Swords Associates immediately began tandem evaluation of our opera tion and our target. Swords Associates determined that our target was indeed compatible, and also jected. It was from this information we were able to establish a per share price on the target which was acceptable to us, as well as the target’s Board of Directors. Our first steps have now been taken to be come a multi-bank hold ing company serving a large number of rural counties. With Swords Associates assistance we continue to review periodically other potential acquisition candi dates.” M/A SWORDS ASSOCIATES. INC. PROFESSIONAL BANKING CONSULTANTS 4900 OAK SUITE 301 Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis KANSAS CITY, MISSOURI 64112 (816) 753-7440 Named to Fed Board Paul J. Schierl, chairman, presi dent and chief executive officer of' the Fort Howard Paper Company in Green Bay, Wis., has been elected to the board of directors of the Federal Reserve Bank of Chicago. Mr. Schierl, whose term will run through 1989, will serve as one of three nonbanker directors elected by Federal Reserve System member banks in the Chicago’s Fed’s service area—the Seventh District. He re places Leon T. Kendall, chairman and chief executive officer of Mort gage Guaranty Insurance Corpora tion in Milwaukee, who served the maximum of two full terms on the Reserve Bank board. 9 Take a doser look at Carroll McEntee ^ ■ 111 We're rated tops in Government Securities, and Keith White is one reason why. ® ^ ® Q In 1970, we started the market for government odd lots — and have ranked Number 1 ever since. Today, round lots or odd lots, we're a top primary dealer with over $2 billion in daily trading volume and over $100 million in capital. We've come a long way! Keith White is typical of the specialists available to you . . . in any one of our branch offices. You can count on the personal touch you've come to expect from CM&M. Work with Keith or any of our professionals, and you'll understand why we're rated so highly by institutional market participants. Because we're larger and more experienced, you benefit from instantaneous market information . . . faster pricing . . . precise execution on every trade . . . in any one of our branch offices. Youll find that we can provide a trading edge in the government market. All the advantages of a primary market maker with global, round-the-clock trading capabilities are yours . . . through any one of our branch offices. Take a closer look at Carroll McEntee & McGinley today — youll like what you see. U.S. Treasuries. Agencies. Money Markets. Repurchase Agreements. GNMA's. STRIPS. Financial Futures and Options. CARROLL McENTEE & McGINLEY INCORPORATED 40 Wall Street, N ew York, NY 10005 (212) 825-6780 Atlanta (404) 522-5325 • Boston (617) 482-9600 • Chicago (312) 368-8680 • Cleveland (216) 621-0303 H ouston (713) 654-0015 • Philadelphia (215) 567-6804 • San Francisco (415) 398-7600 • London • Tokyo <X> member: HongkongBank group https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker. March. 1987 If managing your investments is taking up more time than you'd like it to, call Chase. Instead of spending hours on the phone talking to dozens of people, you’ll talk to just one person. Your Community Banking Account Manager. Your Manager will handle everything. From telling you about our high yield, liquid investment options to filling you in on how events in the financial world may affect your investments. We do all this so you can make better IBM is a registered trademark of the IBM Corporation. © 1986 The Chase Manhattan Bank, N.A./Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis investment decisions. And so you can make them faster. But if this still isn't fast enough, Chase has just the thing. The Chase MicroStation. It lets you manage your cash, information and investments all from one location: your IBM compatible PC. All at the speed of light. Which makes it perfect for those of you who are in a real hurry. For more information, call Dave Larsen, Vice President, Chase Community Banking Division, (212) 552-4153. ACHASE 11 C.T. DOYLE President T.H. OLSON Pres.-Elect J.R. NUNN Vice Pres. K.A. GUENTHER Exec. Dir. IBAA to meet in Orlando w i l ORE THAN 2,000 bankers, spouses and indusIVI try-related registrants are expected to attend the 57th annual convention of the Independent Bankers Association of America in Orlando, Fla., April 1-4. ~ Headquarters will be at M arriott’s Orlando World Cen® ter. IBAA President Charles T. Doyle, CEO, Gulf Na tional Bank, Texas City, Tex., will preside during the convention. He is scheduled to be succeeded as presi^ dent for 1987-88 by Thomas H. Olson, president, Lisco State Bank, Lisco, Nebr., and J.R. Nunn, president, Citizens Bank, Tucumcari, N.M., is slated to follow Mr. Olson as president-elect. As announced earlier, the 1987-88 IBAA slate in^ eludes the name of O.J. Tomson, president of Citizens National Bank in Charles City, la., as the nominee for vice president to follow Mr. Nunn. Treasurer Merle L. Graser, CEO, First National Bank, Venice, Fla., will continue in the second year of the usual two-year term ^ for that office. Executive Director Kenneth A. Guen ther heads the full-time staff at Washington, D.C. headquarters. Guest speakers scheduled at press time to address the general sessions are: William Seidman, FDIC 0 chairman; Comptroller of the Currency Robert Clarke; E. Gerald Corrigan, president, New York Federal Re serve Bank; Congressman Ed Jones (D., Tenn.); Jack Jackson, chairman of Jack Jackson & Associates, Fort Worth, Tex.; F.G. “Buck” Rodgers, former IBM ex# ecutive scheduled to discuss deregulation, and James W. Brock, author of The Bigness Complex. They will join other guest speakers at the two general sessions scheduled for Friday and Saturday mornings, April 3 and 4. W. SEIDMAN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis R. CLARKE Rep. Jones is chairman of the Credit Subcommittee of the House Committee on Agriculture. Mr. Brock is associate professor of economics at Miami University in Oxford, Ohio. Almost 200 exhibits will be open for guests on Wed nesday, April 1, when registration commences. On Thursday, April 2, the program starts with a Young Bankers Breakfast at 8:00 a.m. featuring guest speaker Tom Sullivan, the noted blind author, musi cian, TV and movie star, whose upbeat presentations have inspired audiences nationwide. The breakfast will be followed by 10 special sessions presented throughout Thursday. Those sessions and speakers are: • Asset/Liability Management - James Baker, presi dent, James Baker & Co., Oklahoma City. • Rural America - Agriculture Assistant Secretary Bob Thompson and Neil Harl, Iowa State University professor. • Bank Marketing - Norwood “Red” Pope, market ing director of an Arizona bank. • Bank Ownership - Carlos Johnson, Peat, Marwick, Mitchell & Company. • Regulators Panel - Frank Dreyer and Griffith L. Garwood, Federal Reserve; Janice Smith and Paul Fritts, FDIC; and Robert J. Herrmann and Frank Ma guire, Office of the Comptroller. • High-Performance Banking -Alex Sheshunoff, Sheshunoff and Company, Austin, Tex. • Credit Card Analysis - Paul Weston, VISA, and Linda Echard, Plan Manager, IBAA Bancard, Inc. IBAA CONVENTION. . . (Turn to page 14, please) E.C. CORRIGAN J. JACKSON Northwestern Banker, March, 1987 12 Investment centers bring profit to 9 North Dakota banks* CEOs of three of the first banks to open Investment Centers in their North Dakota banks are pictured here with Tom E. Gunderson (extreme right), pres, and founder of First Dakota Financial Services, Inc., Bis marck, which offers the Investment Center service to banks in the upper midwest. From left to right are: Roger Berglund, pres., Dakota Western, Bowman; Myron Pfeifle, pres., Bismarck State, and Les Nesvig, pres., First State, LaMoure, with Mr. Gunderson. HILE members of Congress continue their W drawn-out study of whether the rules governing bank involvement in the sale of securities should be re vised, some community banks are moving aggressive ly ahead with highly productive investment services for their local customers. Nine community banks in North Dakota have found the installation of an Investment Center in their re spective banks has put them in the forefront of the new products/services race and is bringing in a highly satis factory new source of profits to their banks. Investment Centers of North Dakota is a concept developed by Tom E. Gunderson, a Certified Financial Planner, who has 17 years of investment brokerage ex perience in Des Moines, la., and Bismarck. In April, 1983, he left his position as North Dakota branch of fice manager for E.F. Hutton Financial Services, Inc., where he was one of the top producers nationally, to form First Dakota Financial Services, Inc., Bismarck, of which he is president and sole owner. Concept Is Simple The concept of Investment Centers is simple, it has been highly successful for the banks, and it is now picking up steam and expanding. “We make this a turn-key operation,” states Mr. Gunderson. “We at First Dakota Financial Services, Inc. employ the broker directly and place him in office space leased from the bank. The bank receives its in come from the lease, typically $250.00 per month, and from a percentage of the earnings generated by the In vestment Center. We hire and train the Investment Center personnel; monitor their work; provide training and educational materials to the bank, and provide the computer lines that complete and keep track of all transactions.” Mr. Gunderson said 25% of Investment Center earn ings go to First Dakota Financial Services as a man agement fee. The fee paid to the broker hired by FDFS to operate the Center is agreed upon between the bank and Mr. Gunderson. The broker’s income comes from the other 75% of earnings and after payment of the broker, the remaining income belongs to the bank. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Thus, points out Mr. Gunderson, the bank has a • minimal investment in the Investment Center but has the opportunity for greatly increased income in addi tion to normal banking activities. The Benefits He lists these benefits to an Investment Center • bank: 1. Add profit with little expense-positive impact on return on assets (ROA); 2. Position bank as a full-service financial institution by expanding its services and product lines; ® 3. A ttract new high net worth customers with their deposits and growing need for other banking services; 4. Keep present customers from taking their depos its to the competition; 5. Provide a solid foundation from which to expand ® into their securities services should the Glass-Steagall Act be amended. What is the magnitude of the potential out there for community bank Investment Centers? Mr. Gunderson responds this way: “Go through your bank records for ^ one quarter and add up all the checks paid out to brokers and dealers, then multiply that total by 4% to 5 % and you can see the commission dollars that are leaving your bank!” q First Center in Bismarck First Dakota Financial opened its first Investment Center in June, 1985, at Bismarck State Bank where Myron Pfeifle is president. Board chairman James J. ^ Moses, M.D., and Albert A. Wolf, general counsel for the bank, were original incorporators of Bismarck State in 1977. Those two, with Mr. Pfeifle, vice chair man Joseph M. Hauer and board secretary Arthur A. Link, now comprise the five-man board of directors q and they acquired 96% of the outstanding stock in April, 1985. Mr. Pfeifle reports that earnings growth for that year alone exceeded 200 %, and places strong emphasis on the value of the Investment Center to the bank’s revenue stream. £ In 1985, assets of Bismarck State Bank increased 21% to $26,816,502 and deposits increased 16% to 13 0 0 • $23,193,078, while loans were up 22% to $16,001,942. By year-end 1986, assets had increased another 11.9% to $30 million, deposits went up another 21 % to $28,063,624, and the bank was 65% loaned up. Mr. Pfeifle reports that the Investment Center was the third or fourth highest income account for Bis marck State Bank in 1986, but he expects it to be the second or third highest fee producing account for the bank in 1987. “ If our production volume at the Investment Center continues for the remaining 11 months of the year at the high January level,” he added, “then I ’ll be very happy for it would exceed my expectations for this year by one-third.” Start-Up Expenses Bismarck State’s expenses in connection with set ting up the Investment Center are like the other eight banks; i.e., providing office space, buying an IBM PC, furnishing a secretary, usual office equipment and tele• phone. First Dakota Financial Services provides the professionally trained broker, marketing materials, 12 weeks of training sessions for bank staff and bank cus tomers, and mainframe computers to receive and pro cess all brokerage type orders with updated records by ® computer line in each bank. “Our bank has a franchised 75-mile trade area,” Mr. Pfeifle stated, “although there might be some slight overlap with another Investment Center area that wouldn’t bother either of us. We started off by trying ® to do all our own promotional materials but Tom now comes up with the marketing ideas and supplies these materials after we’ve approved them. Everything is tailored for each bank, giving each one its own ^ character and touch.” * The CEOs of those nine banks also meet to compare notes, exchange ideas on operations and marketing. “We met twice last year,” Mr. Pfeifle recalls, “and we’ll likely meet twice this year.” ^ 0 <§ # # • Nine Locations Mr. Gunderson reports that “at the nine bank loca tions we’re running about $ 1.8 million per month in dollars invested, for an annualized total of $21.6 million. Commissions on that total come to about $1 mil lion.” A key question for bankers, he adds, is, “What is the potential of my market? Would it truly be worthwhile for my bank to get involved in my size community with an Investment Center?” Mr. Gunderson points to the nine North Dakota locations already offering Invest ment Centers to indicate the size banks and communi ties where the Centers already are flourishing. The nine banks, with a total of $357 million in assets, are: Bismarck State Bank First Western Bank of Minot Dakota Western Bank of Bowman Western State Bank of Devils Lake Community National Bank of Grand Forks First State Bank of LaMoure State Bank of Bottineau First National Bank of Fessenden First International Bank of Watford City The first six banks to sign up are running an average gross revenue per month of $ 12,000 and an average dollar amount invested per month of $350,000. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis One of the other North Dakota banks generated $700,000 money invested in the fourth quarter of 1986 and produced just over $31,000 revenue, an average commission of 4.5%. Study Describes Market To emphasize his contention that community banks are in a most favorable position and have a great mar ket to tap, Mr. Gunderson points to a study of 5,000 households commissioned by the Federal Reserve Sys tem and the Office of the Comptroller of the Currency. Results of that study say that two-thirds of the respon dents state that consolidation of their financial ac counts at one location is important to them and 40% say they would change institutions to accomplish this. “The important factor,” Mr. Gunderson points out, “is that they rank bankers as the most likely ones to turn to for advice, second only to family and relatives! “There’s no question in my mind that the indepen dent banker has the best opportunity in the world to corner this market.” How big is that market? Mr. Gunderson said, “Here is another interesting figure, and another approach, to look at the size of this opportunity. The Investment Company Institute reports that in the third quarter alone of 1986, $531,765,000 was invested in mutual funds in Iowa. Assume, on the conservative side, a 2% commission. You’re talking about $10,653,300 in com missions. From this concrete example, bankers can see what they’re missing, while a credible national study shows people saying they want to do business with their local bank.” Mr. Gunderson said the Fed/OCC study showed re gional banks next in line as the preferred place to do business. The study, titled Financial Service Super markets: The Market for Consolidation, was re searched and prepared by Kenneth Kehrer, PhD. Sales and Revenue The records compiled to date for the first one and one-half years of Investment Center operations shows the following tables listing the amount invested in each type of service in percent and the source of revenue in percent: Percent of $s Invested 48.0% 22.3% 14.2% 9.4% 5.4% .8% Percent of Revenue Produced Investment Mutual Funds Participation Mortgages, Partnerships, etc. Stocks & Bonds Single Premium Whole Life Annuities Unit Trusts 46.5% 30.9% 4.9% 12.0% 5.0% .7% First Dakota Financial Services, Inc., maintains its securities licenses through Integrated Resources Equi ty Corp., a multi-billion dollar member of the New York Stock Exchange. In addition to FDFS being a registered investment advisor, the firm also notes that each of its broker reps is a Certified Financial Planner. First Dakota also has formed its own broker/dealer firm, Farwest Securities, Inc., one of the only full-ser vice broker/dealer firms located in the Northwest. Through its well-planned program, FDFS offers each bank the 12 weeks of training for staff, including Northwestern Banker, March, 1987 14 introductory mailings and seminars for customers. While the Investment Center is kept separate from the rest of the bank, and bank personnel do not act in any capacity as a broker, the bank can cross-sell its allied investment service to customers, and the Investment Center personnel, in turn, can cross-sell bank services. income/expense report, provides a data base for tax and cash flow studies, gives various performance cal culations—and a myriad of other financial functions that offer the individual for a modest fee the opportu nity to have all of one’s financial affairs consolidated in one usable report.” • 9 Personal Financial Reports One other service offered by First Dakota that is available through the bank or the Investment Center, or both, is a detailed Consolidated Financial Report for each customer who wants the service, for a fee. That fee could run anywhere from $250 per year to $10,000 or more per year, according to Mr. Gunderson, depend ing on the extent of the individual’s business and per sonal holdings. “We call this consumer banking—financial account ability, if you will—and it can stand alone without the Investment Center concept. This quarterly report is ideal for the busy individual running a business or pro fessional practice. The individuals furnish the figures from normal records produced, or authorize their CPAs, brokers, trust department, attorneys, etc. to forward the necessary records to us. We get copies of all this information, then we keep them updated. For example, we have all stock and bond prices integrated into our mainframe so that a person’s account can be updated in value immediately. It provides historical tracking of up to 20 financial factors, gives a detailed IBAA CONVENTION. . . (Continued from page 11) • Insurance - Edgar W. Armstrong, Jr., The W yatt Company, Washington, D.C., moderates panel yet un named. • One-Bank Holding Company - John J. Kendrick, Jr., Partner, Akin, Gump, Strauss, Hauer & Feld, Dal las, Texas; and William P. Johnson, Rothgerger, Ap pel, Powers & Johnson, Denver, Colo. • Young Bankers Meeting - Breakfast meeting fea turing Tom Sullivan, actor; and Bruce Wiley, Texas In dependent Bank. The afternoons of Friday and Saturday have been Bank Management Program Open to Wider Audiences Following a successful pilot effort in 1986, the Graduate School of Banking in Madison, Wis., has an nounced that it will continue to ad mit graduates of other advanced bank management schools to its Postgraduate Program. The program, once a refresher course for graduates of GSB, was re designed in 1985 to focus on strate gic bank management. The new cur riculum covers topics from bank mergers and acquisitions to profita bility analysis to managing for pro ductivity. One of the program’s cen terpieces, “Stratplan,” an interac tive strategic planning software pro Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis “The Truth—Banks Make Money” To avoid misunderstandings concerning business with the Investment Center, the individual customer signs a statement acknowledging an understanding that they realize they are not dealing with the bank itself and that their Investment Center transactions are not FDIC insured unless they are CDs. The custo mer can, however, also sign a statement authorizing the bank to furnish the Investment Center with per sonal information so the necessary financial account ing may be performed, if he or she wishes. “The truth of the matter is,” Mr. Gunderson stated, “that banks make money off the Investment Centers. They generate fee income that comes from additional services beyond the normal bank service available to day. The Investment Center has the credibility of the bank behind it and if the banker has the knowledge and treats people right, then the bank can corner the market in its trade area because it is genuinely providing full banking in its traditional services, as well as in vestment services. ” □ left open to allow members and spouses to enjoy the many attractions of the Orlando area, either by special ly arranged guided tours or on one’s own—Kennedy Space Center, Cyprus Gardens, Walt Disney World tours and Epcot Center. On Friday night, the traditional state association re ceptions will run from 5:00 p.m. to 8:00 p.m., after which registrants are invited to hear country-western singer Lee Greenwood at a special 9:00 p.m. show. Other entertainment features include former Olympic gymnast Cathy Rigby McCoy. The President’s Reception and Annual Banquet will be Saturday evening, with dinner starting at 7:30 p.m., featuring the lively entertainment of “The New Vir ginians.” □ f Q % • • • ^ gram, was developed with funding states and marketing efforts are from GSB’s Prochnow Educational underway. Foundation. New Lobbyist for IBAA Banclnsure Adds 3 States Banclnsure the captive insurance company formed by five state bank ers associations in 1985, announced recently that three additional states have purchased equity positions in the company. Banclnsure, formed originally by the state bankers associations in Minnesota, North and South Da kota, Oklahoma and Wisconsin, has now attracted state associations in Arkansas, Montana and Oregon. Li censing arrangements have been completed in each of the three new The Independent Bankers Asso ciation of America has announced the appointment of Keith Scarborough as the association’s Senate lobbyist. Mr. Scarborough previously served on Capitol Hill as legislative assistant to Senator James J. Exon (D-NE) in the areas of banking, housing tax and labor issues. A graduate of the University of Neb raska School of Law, Mr. Scarbo rough was in private practice in Nebraska before joining Senator Ex on in Washington. ^ ^ £ 15 BOND SERVICE vs. BANK SERVICE Chances are, your bank has been exposed more than once to “bond service.” It’s transaction-oriented service from people who know bonds, not banks. So the advice you get too often goes no further than offerings and oc casional bids. Bond service is not what L. F. Rothschild, Unterberg, Towbin provides. Our specialty is BANK SERVICE.® Over 25 years of service that combines intimate knowledge of bonds with in-depth understanding of banks. BANK SERVICE views your portfolio in the same light as you do: As a crucial com ponent of your bank’s overall position. Not as an independent entity. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis That’s why before we make a recommendation we conduct a thorough study of your bank. Then our BANK SERVICE committee meets to discuss the Bank Report we’ve prepared specifically for you. The recommendations from the committee are tailored to your bank’s present position and future objectives in a chang ing marketplace. Our PMS system can help you monitor and manage your portfolio. We’ll introduce you to our Fixed Income Com puter Service, our investment banking group, our fixed income research, send you our news letter and invite you to appro priate seminars that we host in your area. All these services are de signed for one goal: To help you achieve your bank’s overall aims in a way no mere bond service can. So, while you may be get ting bond service, what you really need is BANK SERVICE. Call Mark Rosen, Principal, at (212) 412-2600. IB L. F. ROTHSCHILD, UNTERBERG, TO W BIN, IN C . BANK SERVICE® Northwestern Banker, March, 1987 16 Improving Professionalism Through Effective Sales Management Written especially for the N o rthw estern B an k er By JANET L. MYERS President, Dearborn Business Group, Ltd. Chicago, 111. ■ ABOUT THE AUTHOR—Janet Myers heads this Chicago-based management consulting firm. A frequent speaker on sales issues, she is teaching a workshop on “ Sales Management for Commer cial Bankers,” sponsored by Robert Morris Associates, on April 23-24 in Chicago. More information about the meeting may be ob tained from Maxine Elkin at the RMA National Office in Philadel phia, (215) 665-2850. FFECTIVE sales management can improve a fi E nancial institution’s profit, productivity, and per formance. In fact, it is the key to business develop ment. However, it takes someone with careful “people” skills, in-depth portfolio knowledge, and mar keting awareness to be a good sales manager. Picture a mobile with three different arms. Each arm has different elements hanging from it. In a child’s bedroom, these might be lions, tigers, and bears. But for bank sales managers, they are the calling officer, customers, and dollar signs. The mobile can quickly get out of kilter if too much weight—time, effort, energy—is given to one area to the detriment of the others. Take the image of the mobile a step further and understand that each element is different in impor tance. Some customers are big, some are strategically valuable, some are longstanding. Some bankers are ex perienced, some are self-starters, and some are knowl edgeable and enthusiastic about particular products. The sales manager has to weigh different portfolio values and, at the same time, match them with the talents, experience, and specialties of each relationship banker. I t’s difficult...so difficult that many banks never even address this problem. They divide their portfolio responsibilities into a more or less even split. Ten bankers and 300 customers means that each banker will handle 30 customers. When you visualize this as a mobile, it’s easy to understand why some bankers are overloaded. Clarity of customer value enables better resource allocation. Identify your most valued customers; con centrate technical and human resources where you ex pect the greatest return. The experienced sales man ager will translate strategic priorities and balance call ing officer goals by establishing clear customer classi fications. I recommend that “A” be used to designate your bank’s most valued customers—those who should re ceive maximum service so that your institution keeps and increases its business. Use “B” to indicate those accounts your bank shares with competing institutions. By increasing Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis sales and service, these customers could by upgraded to “A” status. Such cross-selling improves profitabili tySome of your current customers can be designated “C.” They should receive minimal service with no plans to cross-sell additional services. For various reasons, your bank may actually prefer that “C” custo mers take their business elsewhere. Balancing the portfolio requires particular identifi cation of the most desired prospects. Grouping pros pects clarifies how much time the calling officer should allocate to each. Those to receive significant sales ef fort should be classified as “G,” or good, prospects. Prospects at the “hello” stage, classified as “H ,” re quire investigation and relationship building and do not promise immediate return. Obviously, they deserve less time than “G” prospects. “ I ” prospects receive time only “if” available. Some companies receive no classification because they do not fit the bank’s strategy. They may be wrong for a balanced portfolio, be in an industry or market that is not attractive, or carry too high a risk. A calling officer with good cross-selling skills would be better matched with a portfolio strong in “B” cus tomers. A portfolio heavy with “C” customers should be assigned to an officer skilled at business develop ment and prospecting, so that new customers are con tinually brought in to replace “C”s that are deliberate ly pruned. At Robert Morris Associates’ (RMA) “Sales Management for Commercial Bankers Workshop,” sche duled for April 23-24 in Chicago, I will be presenting several sales management tools and techniques—in cluding matrix methods to qualify customers and match calling officers—so that the best customers get the treatment they deserve, while promising prospects are developed into new accounts. I also will discuss how the sales manager can do this while motivating, measuring, and rewarding calling officer performance. The sales manager is a professional position, and the characteristics of a star calling officer are not neces sarily those of a good sales manager. Frequently banks ask someone to be both a sales manager and calling of ficer. This is difficult since the positions call for differ ent skills, carry an enormous workload, and create conflicting time demands. We’ll address these chal lenges at the RMA workshop. The sales manager must lead a diverse group of strong individual performers and mold them into a team with a common goal: a profitable, strategically effective performance. □ • • • 9 9 ^ ^ £ £ % # 17 cash flow insurance that insures you’ll have the cash to plant again next year, even if this year’s crop is destroyed. Dawson Multi-Peril Crop Insurance Ih e Dawson company has built its reputation on fast, fair claim service and the best adjusters in the country. So this year, trust your crop to the company that has been a foul-weather friend to farmers for over three generations. Ask your local agent for Dawson Multi-Peril Insurance. I n the 70 years that Dawson Hail Insurance has been in business, we’ve learned a lot about friendship Over the years, we’ve been a foul-weather friend to thousands of farmers who have suffered crop damage M u lti -Peril Crop Insurance from Dawson protects you from most natural disasters. It’s a kind of Call Toll-Free 1 800 437-4680 - O \\ H A IL ° ° INSURANCE - In N orth D akota 1 800 342-4848 - - P.0. Box 1820, Fàrgo, ND 58107 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, March, 1987 18 Visa Joins with PLUS Unbeatable Support. LaSalle National Bank supports you. With more than half a century of e x p erien c e ... innovative products... responsive service... and deep commitment to the market. Our goal is to help you enhance your over all perform ance. LaSalle takes a consulting approach to correspondent banking, working closely with you to develop strategies that improve profits, growth and efficiency. We offer individualized service an d comprehensive capabilities, including: • multiple investment consulting • credit and financial services • global trade finance • merger and acquisition consulting • trust, treasury and m any other services In addition, LaSalle ensures dependable, cost-effective check processing, collections, loan overlines and the other standards of cor respondent banking. As your Midwestern neighbor, we share your perspective and regional loyalties. As a Chicago bank with international resources, LaSalle c a n share m oney-center b an k in g opportunities as well. Through our affiliation with ABN Bank, a leading global institution, w e offer m a n y a d v a n ta g e s w ell w o rth investigating. Get acquainted with LaSalle's Correspondent Bankers. Call Wayne Bismark or Del Rogers at 312-443-2769. Wayne, Del an d the LaSalle Correspondent Banking team will give you u n b e a ta b le support —with b etter service, better products and better ideas. LaSalle National Bank 135 South LaSalle Street Chicago, Illinois 60603 Member FDIC Member of the ABN/LASALLE group ABN O LASALLE“ Your Correspondent B anking Bridge ©1986 LaSalle National Bank Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis In the single largest affiliation in the history of shared automated teller machine networks, Visa U.S.A., the nation’s largest credit card company, and PLUS SYSTEM, Inc., the first nationally-shared ATM network, agreed on February 4 to join forces to create the world’s largest ATM network. The agreement was finalized after approval by PLUS SYSTEM, Inc.’s board of directors on that date and Visa’s board on January 7th. The ag reem en t gives Visa U.S.A.’s 17,000 member banks in the United States the opportunity to join the PLUS SYSTEM network and to use the PLUS SYSTEM logo as an ATM sharing mark on their credit cards and proprietary debit cards and on any ATMs they con nect to the network. Additionally, Visa U.S.A. becomes a “special member” of the network and is entitled to appoint seven directors to PLU S SY ST E M ’S 2 1 -member board. While the PLUS SYSTEM net work will become Visa U.S.A.’s primary debit ATM network, Visa’s network of 13,000 ATMs in the U.S. and 17 other countries will remain intact. Visa’s network is primarily a credit card network, designed to accommodate cash advances for 150 million Visa cardholders. PLUS SYSTEM, Inc. estimates that the affiliation with Visa will nearly double the network’s ATMs from the current level of 13,000 to over 20,000 within a relatively short period. Economic forecasts and an alytical projections indicate that, at a minimum, Vz of all ATMs currently installed in the United States will be part of the PLUS SYSTEM net work by the end of the decade. ^ # • • ® ® 9 ^ ^ £ Wells Fargo Appointment Rick Diveley has been named vice president in the Scottsdale head quarters of Wells Fargo Credit Cor poration, a financial services subsi- % diary of San Francisco’s Wells Fargo & Company. In his newly created position Mr. Diveley will be responsible for Wells Fargo Credit Corporation’s loan ad- # justment area. He joined WFCC in 1984 as assis tant vice president and credit an alyst. He holds a BS/BA degree from Northern Arizona University, • Flagstaff. We help your team get in shape to be strong Financial Advisers. IAC gives you the help of a National Training Department that schedules a series of educational and sales support training programs for you. These ongoing in-bank seminars help the people in your loan depart ment feel comfortable in the role of Financial Adviser while protecting your bank's assets, providing financial security for your customers and adding to your profits. In addition, our Field Representatives contact your bank on a regular basis to stay in tune with your bank's particular needs. Along with the IAC Group's personal service and personalized in volvement, you get another important advantage: Simplicity. We've shortened the forms and computerized quotations to save you valuable time. For more information on how we can help build a strong team of Financial Advisers for your bank, give us a call. A Full Service Company for The Full Service Bank Individual Assurance Company €> https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1600 O ak St. • Kansas City, M O 64108 Phone to ll free in Missouri (800) 892-5890, other states (800) 821-5434. 20 Cole-Taylor Promotes Corey chief financial officer, and Albert J. % Gardner to vice president and chief trust officer and head of the trust di vision of the First National Bank of Springfield. Mr. Burton joined the bank in # 1979 and was promoted to senior vice president and chief investment officer in 1985. Prior to joining the bank, he was with First Bank N.A. in Milwaukee, Wis. # Mr. Gardner joined the bank in 1984 and was promoted in 1986 to Promoted in Springfield vice president and trust officer. He Larry A. Burton has been pro previously was with United State moted to senior vice president and Bank in Cedar Rapids, la. Sidney J. Taylor, chairman and chief executive officer of Cole-Taylor Financial Group, re c e n tly an nounced the pro motion of Rob Largest Banks in Illinois ert F. Corey to vice chairman of EPOSITS and loan figures for Illinois banks reporting deposits of $200 Drovers Bank of m illion or more at year-end are shown in the chart below. Com Chicago and se parative figures from a year ago are featured.1 nior vice presi (Last three figures omitted) dent and chief investment offi December 31, 1986 December 31, 1985 R.F. COREY Deposits Loans Deposits Loans cer of Cole-Tay 1. The First Natl. Bank of C h ica g o ............ $24,909,690$21,410,466$24,334,226$20,054,000 lor Financial Group. Continental Bank, C hicago.................... 18,032,000 20,207,000 17,759,000 20,054,000 In his new capacity, Mr. Corey, 2. 6,096,175 4,800,027 5,534,960 4,519,563 3. Harris Bank, Chicago ............................ who has had a 36 year career with 4. Northern Trust, C h ic a g o ........................ 5,013,678 3,409,688 5,032,241 3,633,182 Drovers, will maintain a supervisory 5. American Natl. B&T, C hicago................ 3,023,234 2,455,094 2,827,747 2,268,513 248,322 321,487 871,586 role in the Cole-Taylor Financial 6. Magna First Natl. Bk., B e lle ville ............ 1,307,576 840,586 1,412,419 1,132,376 1,120,200 7. Exchange Natl., Chicago ...................... Group. 836,072 1,096,086 923,720 1,055,247 LaSalle Natl. Bk., Chicago .................... Mr. Corey attended the Universi 8. 241,387 536,674 442,416 881,976 9. Colonial B&T, C h ic a g o .......................... ty of Wisconsin—Graduate School 10. Bank for S&Ls, C h ic a g o ........................ 147,361 297,779 602,506 744,210 346,690 453,900 585,463 656,968 of Banking and Northwestern Uni 11. Amcore Bk., N.A., Rockford .................. 474,132 612,661 570,829 541,973 versity-G raduate School of Finan 12. Natl. Boulevard Bk., C h ic a g o ................ 331,993 330,812 571,248 589,973 13. Northwest Natl., C h ic a g o ...................... cial Public Relations. 496,463 139,350 550,880 131,589 14. First Natl. Bk., of Evergreen P a rk.......... D Named in East Dubuque Daryl Barklow has been elected president and chief executive officer of the East Dubuque Savings Bank. He joined the bank in 1972 as in stallment loan officer, was promoted to assistant vice president in 1974 and senior vice president in 1986. Succeeding Mr. Barklow as senior vice president will be Thomas Reilly. Promoted in Savanna Mark H. Sperfslage has been pro moted to vice president and cashier of First Illinois National Bank of Savanna. He joined the bank in 1985 as cashier and prior to that, was comp troller for Iowa Trust and Savings Bank in Oskaloosa, la. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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. Lakeview T&S, C hicago.......................... First Illinois Bk. of Evanston, N.A.......... Marine Bank of S p rin g fie ld .................... Citizens B&T, Park R odge...................... Gary Wheaton Bk., Wheaton ................ Lake Shore Natl., Chicago .................... State Natl. Bk., Evanston ...................... Mount Prospect State Bk........................ Commercial Natl. Bk., P e o ria ................ First Natl., Des P la in e s .......................... First Natl. B&T, B a rrin g to n .................... Oak Park T&S, Oak P a r k ........................ First Natl. Bk., Lake F o re s t.................... Illinois Regional Bk., N.A., Elmhurst .. . Unibanctrust, C h ic a g o .......................... Bank of Ravenswood, Chicago ............ First Natl., S k o k ie .................................. First Natl. B&T, R o c k fo rd ...................... Glenview State B a n k .............................. Mid-City Natl. Bk., C hicago.................... Illinois Natl. Bk., S p rin g field.................. Marquette Natl. Bk., C h ic a g o ................ First Natl. Bk., Springfield .................... Commercial Natl. Bk., C h ic a g o ............ South Holland T&S Bank........................ Drovers Bank of Chicago ...................... First Natl. Bk. Quad Cities, Rock Island First Natl. Bk. of J o lie t............................ Pioneer B&T, C h ic a g o ............................ Magna Millikin Natl. Bk. of D e ca tu r. . . . First Natl. Bk., Mount P ro s p e c t............ USAmeribanc/Elk G ro v e ........................ B&T Co. of Arlington H e ig h ts ................ 549,476 536,904 531,537 509,335 483,467 442,065 417,126 377,573 374,515 364,965 363,745 363,279 357,155 350,024 349,497 342,263 339,918 334,984 325,568 317,027 312,787 309,832 302,597 278,987 274,873 260,288 259,756 258,354 251,212 235,863 233,871 228,904 200,268 320,938 388,117 344,947 391,090 286,381 371,500 224,030 239,745 247,721 257,880 198,649 200,677 165,779 180,577 239,706 236,786 193,821 223,356 167,725 156,151 171,363 134,819 182,145 184,323 105,687 159,896 99,071 126,438 168,068 167,247 163,690 179,556 129,075 551,672 469,784 498,788 464,921 403,493 499,547 379,495 348,878 350,392 339,712 323,068 320,683 317,441 315,398 388,064 304,132 304,334 309,549 293,431 283,635 244,713 285,845 280,163 264,551 264,814 241,086 260,058 233,413 241,620 217,388 213,623 210,216 203,061 277,617 338,629 367,878 327,906 234,876 372,509 187,912 221,141 248,142 242,983 173,678 173,127 181,030 162,121 218,527 225,132 150,991 200,226 149,226 120,876 168,768 123,440 174,767 179,898 111,402 154,733 104,723 122,851 176,599 147,916 143,370 159,858 115,069 Illinois News Company of Arlington Heights, where she was senior vice president and head of the community banking. * * * 0 0 0 4D Robert R. Vohanan has been elected president, chief operating of ficer and director of Lake Shore Ban corp., Inc. He has also been elected president and COO of the whollyowned subsidiary, Lake Shore Na tional Bank. Since 1981, Mr. Yohanan has served as senior vice president of The First National Bank of Chicago, which he joined in 1968. His early years included commercial banking as well as international assign ments. In 1979 he was named vice president and manager of the com modities and securities division to which were added later the responsi First Colonial Bankshares has an bilities for agricultural and financial n o u n ced th e p ro m o tio n s of markets. Since 1984, he has man Frederick D. aged the assimilation of acquired in Bernson to presi stitutions, most notably American dent of Avenue National Bank. Bank of Oak Park, John A. Four Promoted in Rockford Benson to president of Avenue AMCORE BANK, N.A., Rock B an k N o rth ford, has announced four officer pro west, Niles, and motions. Bette B. Daniels Judy A. Gard was promoted from to senior vice assistant vice president to vice pres p re s id e n t at FD- BERNS0N ident. She has now assumed man First Colonial Bankshares, Chicago. agerial responsibility for the bank’s Mr. Bernson is taking over as mortgage department and customer president of Avenue Bank of Oak services with additional responsibili Park after three years as president ties in special services. She joined of Avenue Bank Northwest in Niles. the bank in 1959. Succeeding Mr. Bernson is John A. Benson. He previously served as executive vice president of North west Commerce Bank in Rosemont. 21 Gino P. Orazi was promoted from assistant trust officer to assistant vice president and trust officer. He has been with AMCORE since 1979. His prior experience includes em ployment with the Investors/Diversified Services and the Avanti Man agement Company. Also named assistant vice presi dent and trust officer was Lois S. Barton. Prior to joining the bank she was affiliated with Robinson, Robinson and Cole, a law firm in Hartford, Conn. M. Shawn Way has been pro moted to banking officer. He joined the bank in 1984. Promoted in Rock City Steven J. Ament has been pro moted to assistant vice president of the Rock City Bank. Prior to joining the bank as a loan officer in 1985, he was an agricul tural loan officer with Farley State Bank, Farley, la. Lombard Bk. Changes Name The State Bank of Lombard will change its name to Edgemark Bank, effective April 1, 1987. The name change reflects the bank’s enhanced product line and its expanded services to other locations in the DuPage marketplace, says Charles A. Bruning, the bank’s chairman. The State Bank of Lombard is 99.59 percent owned by the Edgemark Financial Corporation. Appointed in Galena J.A. GARD J.A. BENSON B.B. DANIELS Ms. Daniels will be taking respon sibility for commercial and retail 0 product development as a senior vice president of First Colonial Bankshares, and will also be man ager of the personal banking depart ment and a senior vice president for 4) the Avenue Bank of Oak Park. She comes from The Bank and Trust https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis G.P. ORAZI Lynn Berning has been appointed as loan officer of the First National Bank of Galena. She has been employed at the bank for 10 years and has previously occupied the positions of internal auditor. 30th Observed in Skokie 111 L.S. BARTON M.S. WAY Skokie Trust & Savings Bank is celebrating its 30th anniversary with a special display in its main lobby at 4400 Oakton Street, Sko kie. The display includes newspaper articles, pictures and advertise ments reflecting the bank’s history. The exhibit will be open to the pub lic until March 13th. Northwestern Banker, March, 1987 22 Pres. Elected in Duluth Bruce P. Wagner has been elected president and a member of the board of N o rw e st, Bank D uluth, succeeding Rob ert M. Fischer, who has retired. Mr. W agner m ost recently served as senior vice president in charge of retail banking for the B.P. WAGNER bank, where he began his banking career in 1971. He had been senior vice president since 1984. Mr. Fischer joined the bank in 1958, was elected senior vice presi dent in 1979, executive vice presi dent in 1983, and president in 1984. Elected Pres, in Blaine W. Norman Swenson has been elected president of First Bank Northtown, Blaine. He suc ceeds Janet J. Smith, who has taken on duties a t FBS Card Services, Inc., the credit card servicing subsi diary of First Bank System. Mr. Swenson has been associated with FBS since 1966, serving most recently as vice president and manager at the Bloomington Lake office of First Bank Lake. He previously served as vice president of operations for First Bank Bloomington Lake prior to its consolidation with First Bank Min nehaha in 1984. Pres. Named in Plymouth Roger M. Janikowski named president of First mouth and manager of business division. He Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis has been Bank Ply its small succeeds ago. That announcement also in cluded Norwest’s agreement to sell assets and liabilities of its Min nesota banks in Montevideo, Ortonville, Dawson and Luverne. Sales of those banks in Minn west, Inc., a newly-formed bank holding com pany, founded by M.D. McVay, re tired president of Cargill, Inc., and a former director of Norwest Bank Minneapolis, to purchase the four banks, was concluded in mid-Janu James Sherard, who took a banking ary. Mr. McHugh said, “All three position in Washington, D.C. Mr. Janikowski joined First Bank banks are run by competent people Plymouth in 1978 as manager of per and are located in strong communi sonal banking. He has held various ties. We believe that in spite of cur positions at the bank, serving most rent problems, the rural economy recently as vice president and man will grow and the banks can expect to participate in that growth.” ager of commercial banking. Norwest Corporation is a $21.5 billion diversified financial services Pres. Elected in Marshall organization with 70 commercial Norwest Bank Marshall has an banks and several specialized finan nounced that Daniel R. Gasper, ex cial companies operating in 44 e c u tiv e vice states internationally. president of the bank, has been elected president Staff Changes in Mt. Iron and chief execu Barbara H. Sartori has resigned tive officer. He as vice president and cashier of the succeeds John S. Mt. Iron First State Bank, Mt. Iron, Lasher, who has due to ill health. She had been with been e lec te d the bank for 13 years and has 34 chairman. Mr. years in banking. Lasher, p re si D.R. GASPER Carol E. Kangas has been elected dent of the bank since 1982, plans to retire at the end cashier. She was promoted from as sistant cashier and has 16 years at of this year. Mr. Gasper began his banking the bank. Steven C. Nelson has joined the career at Norwest Bank Rapid City in 1972. He served in the corporate bank as assistant vice president. He office in Minneapolis as credit offi was formerly a loan officer with cer in 1977. In 1978, he returned to First Bank Minnesota in Virginia the Rapid City bank as a commercial for five years. lender before moving to Marshall as senior vice president at Norwest Bank in 1982. Two Elected in Buffalo Randy Haskins has been elected Sale of Three Norwest assistant vice president of The Oak ley National Bank, Buffalo. He Banks Completed joined bank in 1978 and has held Sales of the assets and deposits of variousthe positions, with the most re Norwest banks in Redwood Falls, cent being a loan officer. Tracy and Slayton, Minn., to banks Jayne Kotila has been elected as owned by Minnesota Valley Banc- sistant She joined the bank Shares, Inc., a new bank holding in 1983cashier. from company formed to purchase these Bank in Cokato.the First National banks from Norwest, has been com pleted. John A. McHugh, a Minnea polis attorney and a former presi dent of Norwest Bank Minneapolis, Promoted in Fridley Jan Klinsing has been promoted is chairman and CEO of Minnesota to assistant cashier at Fridley State Valley Bancshares. The corporation’s agreement to Bank. With the bank since 1976, she sell the banks, pending regulatory has been the bookkeeping super approvals, was announced a year visor for the past seven years. . Some things have to change. At Marquette Bank Minneapolis, we feel some things should endure. • Pride in a job well done. A high standard of performance. A tradition of excellence. These are the foundations of Marquette’s Correspondent Services Division. • And it shows. . . in our ability to pinpoint and analyze your problems and oppor tunities. Our willingness to roll up our sleeves, to work with you, to deliver all the resources of a billion dollar bank to help you meet the challenges of today, and tomorrow. Technologies and services change, but our attitude hasn’t. Because Marquette Bank Minneapolis will never put aside our oldest promise to our customers: professional service with a personal difference. Marquette Bank Minneapolis Me« Correspondent Services Division https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 24 Twin C itie s^ Willard E. (Bill) Rohde has been elected president of Norwest Bank University-Mid way, succeeding longtim e M in neapolis banker become limited by recent changes in federal tax law. Mr. Janklow will maintain his South Dakota residency and com mute to Minneapolis, according to D ougherty D aw kins’ president Samuel B. Morison, who is retir Michael E. Dougherty. ing. M r. R ohde joined Norwest in 1969 as a m anagem ent trainee, served as a senior lender and senior vice president and, since 1984, as presi dent of Norwest Bank MetroSouth, a position he will continue to hold. Mr. Morison served as president of the bank since 1981. He pre viously had held various positions with Norwest Bank Minneapolis, which he joined in 1948, and was at that bank’s Nicollet branch for near ly 35 years. He served as vice presi dent and manager of the branch at Nicollet and Lake from 1968 to 1981. * * * Mr. Janklow said he decided to join Dougherty Dawkins because his position there would allow him to continue to address the kinds of problems he addressed as governor. “The Upper Midwest states face a serious capital availability problem that has been made worse by new federal tax law. At Dougherty Daw kins, I ’ll have an opportunity to con tinue working on this problem from a new perspective, with an organiza tion I respect, and free of the respon sibilities the governor’s office en tails.’’ Mr. Janklow served two terms as Governor of South Dakota and one as South Dakota’s Attorney Gen eral. He ran for the United States Senate in 1986 and was defeated in the Republican Party primary by James Abdnor. William Janklow A. has joined the firm as a managing l director. W. JANKLOW Mr. Janklow will work with the Dougherty Daw kins investment banking staff, focusing especially on the formation of capital for economic development programs and state agencies and au thorities whose access to capital has É Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M.A. MILLER D.L. SMITH in 1982 and most recently served as assistant vice president and man ager, staffing and corporate center personnel. * * * National City Bank of Minneapo lis has announced a number of changes in the bank’s staff. Phyllis J. Strand has been namedFirst Bank System has appointed assistant vice president and assis the following to vice president sta tant manager of th e p e rs o n a l tu s : John J. b an k in g d iv i Gozola, special sion. She has p ro je c ts ; Mi been with the chael A. Miller, bank for nine consum er and years. community Frank M. Ful banking, audit ler has been and e x a m in a named commer tion, and Debra cial loan officer L. Smith, human P.J. STRAND of the commer resources. J.J. GOZOLA cial banking division - D. He has M r. G ozola has been with the bank since 1979, been in the banking industry for most recently serving as assistant three years. With the bank for two years, Mar vice president and manager of the international and financial divisions tin J. Krogman has been named real * Dougherty, Dawkins, Strand & Yost, Inc., a Minneapolis-based in vestment bank ing firm, an nounced Febru ary 6 that for mer South Da kota Governor of wholesale audit. Mr. Miller joined the First Banks in 1972 at First Bank Saint Paul. He has held sev eral audit positions at First Bank System, most recently as assistant vice president, regional audit. Ms. Smith joined the First Bank System * * estate loan officer of the real estate division - M. Jeanne M. Mork has been named investment officer of the investment department - consumer products division. She has been with the bank Mortgage & Financial Corporation in Minneapolis. * * * At its recent annual meeting of shareholders Piper, Jaffray & Hopwood Incorporated elected Robert J. Magnuson to its board of directors and accepted the resignation of 15-year board member, John R. Winsor. Mr. Magnuson, who has 25 year’s experience in the investment indus try, joined Piper Jaffray in 1981. He is a managing director and serves as regional manager of the firm’s 11 West Coast sales offices in Portland, Ore.; Denver, Colo.; Boise, Ida.; the F.M. FULLER M.J. KROGMAN firm’s newest office in Salt Lake City, Utah; and seven offices in Washington, at Aberdeen, Bellevue, Lynnwood, Richland, Seattle Spo kane and Wenatchee. Mr. Magnuson also administers the firm’s sales, re search and trading department in the Seattle office. Mr. Winsor has been with Piper Jaffray since 1964 and has served as a member of the board of directors since the firm’s incorporation in J.M. MORK K.A. DUNIFON 1971. He will continue with Piper, Jaffray & Hopwood Incorporated as for five years and in the banking in a managing director and investment dustry for nine years. executive. Named trust investment officer of * * * the tru st department-investment division, Karen A. Dunifon joined the bank in 1983. Marquette Bank Minneapolis has Jeannine R. Hunke has been named personal banking officer at appointed Robert M. Pope to invest the Southdale office. She has been ment consultant of the bank’s in with the bank since 1974. v e s tm e n t d e * * * p a rtm e n t. He Norwest Corporation’s banking will be respon group has restructured its residen sible for provid ing investment tial m ortgage se rv ic e s to lending opera banks and insur tions and named ance companies Thomas N. in Iowa and Neb Hearn to the R.M. POPE raska. new position of Before joining the bank, he served vice president, as an institutional investment ad banking group visor at the Allied Securities Cor mortgage bank poration and R.G. Dickinson & Com ing services. pany, Des Moines, la. M r. H e a rn * * * T.N. HEARN joined the Nor west corporate staff from Denver, where he was senior vice president and COO for First Interstate Mort Norwest Bank Minneapolis has gages Company of Colorado. He pre announced that it has opened a new viously held senior management trust office in Rochester to provide positions with People’s Mortgage personal trust and investment ser Company in Seattle and FBS Mort vices to Norwest customers in gage Corporation and Knutson southeastern Minnesota. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 25 Minnesota News The Rochester trust office will be managed by Timothy R. Melin, a 17year veteran in the areas of personal trust and investments. Mr. Melin joined the Norwest trust organiza tion in 1967 in the trust department of Norwest Bank Minneapolis. He served most recently as investment manager for all Norwest trust custo mers in South Dakota from 1985 un til 1986. Prior to that, he was man ager of the Norwest trust offices in Aberdeen and Mitchell, S.D. from 1975 to 1985. * * * Norwest Corporation has an nounced that it will join Electronic Data Systems, Inc. (EDS) and Bank One in developing a retail bank pro cessing system for use by large fi nancial institutions. Norwest is the second major re gional bank to join Dallas-based EDS in this effort. Bank One of Col umbus, Oh., signed a similar con tract with EDS in A upist 1986. EDS will design and build the sys tem, and Norwest and Bank One will provide user evaluation and review the system’s functional design. The system is being designed with a focus on current and future needs of larger financial institu tions. Users will benefit from a less expensive and more efficient sys tem, which will also process unprece dented high volumes. The system will also be capable of migrating into new lines of business as the institu tion user grows and expands. * * * Jonathan B. Dodge has joined L.H. Hendrickson & Company , Inc. as president. He was formerly a partner with McGladrey, Hendrick son & Pullen and has a background which includes lecturer at banking association seminars. M. Jean Laubach has joined the company as vice president of busi ness planning. She has 18 years of finance related experience and was most recently an associate of Strommen & Associates in financial plan ning. * * * Bremer Financial Services, Inc. has elected Brad Krehbiel as credit officer. He joined Bremer in 1986 as corporate credit analyst. Northwestern Banker, March, 1987 26 Minnesota News LEFT— Participants in the Legislative and Economic Program during the MBA Senior Management Conference were, front: MBA Pres., Roy W. Terwilliger, pres., Suburban Natl., Eden Prairie; The Hon. Roger D. Moe, sen. m ajority leader, Erskine, and Joseph Nordlund, chmn., MBA Bank Mgmt. Committee, and pres., First State, Apple Valley. Back row, from left: The Hon. William H. Schreiber, house minority leader, Brooklyn Park; The Hon. Fred C. Norton, speaker of the house, St. Paul; Truman L. Jeffers, MBA exec, v.p., Mpls., and The Hon. Duane D. Benson, senate m inority leader, Lanesboro. RIGHT—Taking part in the segment on managing change were, from left: Barbara Hanley, Hanley and Associates, Mpls.; MBA Bank Management Committee Chairman Joseph Nordlund, pres., First State, Apple Valley, and Gary Raddon, pres., Raddon Financial Group, Chicago. £ Senior Management Conference Held By ROBERT CRONIN Associate Publisher ORE THAN 350 senior bank M officers and their spouses at tended the 1987 Minnesota Bankers Association’s Senior Bank Manage ment Conference held at the Hyatt Regency in Minneapolis last month. The two-day meeting also featured a special salute to the Minnesota Leg islature. Legislative and Economic Program Calling the legislative program to order was Joseph Nordland, presi dent of the MBA Bank Management Committee and president of First State Bank in Apple Valley. A pressing issue not only facing Minnesota but all states is the growth and economic survival of smaller towns and communities. Ad dressing this issue was Bill Sands, chairman of the MBA Rural Eco nomic Development Task Force, and chairman of Western Bank in St. Paul. Mr. Sands explained the task force is tackling the problem of a lack of long range planning in many communities. It has established a special pilot program for strategic development with the Atwater State Bank in a town of just over 1,000 people. “What we’re talking about for our pilot program is more than just street maintenance and sewer projects. We are looking at long term future planning,’’ Mr. Sands said. Four more pilot programs are in the planning stages. Funding will https://fraser.stlouisfed.org Northwestern Banker, March, 1987 Federal Reserve Bank of St. Louis come from private donations, com panies and foundations. Another important topic for the MBA this year is legislation, es pecially that related to agriculture. Leslie Peterson, chairman of the MBA Ag Task Force and president of Farmers State Bank in Trimont, addressed this topic. In his opinion, the five most important issues con cerning the ag task force are the in terest write-down—emergency farm operating loan act, the lender media tion act, farm product liens or cen tral filing, agricultural linked de posits, and priority lines for ag input loans and credit sales. John S. Jackson, MBA general counsel, addressed the group of se nior officers on the topic of general banking legislative proposals. In his presentation, Mr. Jackson touched on key issues, including lifeline banking, bank structure, real estate held as collateral, and loans and in vestments. Most pressing was the issue of lifeline banking legislation. According to MBA officials, this consumer legislation would offer no service charge checking, ten free checks per month, free cashing of government checks and a no-servicecharge savings account. The service is designed for low income indivi duals. One banker in the audience asked, “Should the grocer be ex pected to give away the first dozen eggs or pound of ground beef?’’ Mr. Jackson repled that the MBA opposses this legislation without com promise. Concluding the afternoon busi ness program were presentations given by Roger D. Moe, Senate Ma jority Leader, Erskine; Duane Ben son, Seante Minority Leader, Lanesboro; Fred C. Norton, Speaker of the House, St. Paul, and William H. Schreiber, House Minority Leader, Brooklyn Park. Commenting on the legislators’ differing points of view, one of them said, “ I feel like a pro fessional wrestler; we beat each other up, then climb back into the same car bound for the next show.’’ Over 500 guests were in attendance for the Salute to Minnesota Legislators reception and dinner. Approximately 150 of those present were members of the Senate and House of Representatives. A program followed, featuring remarks by MBA President Roy Terwilliger, president, Suburban National, Eden Prairie. To conclude the gala even ing, “The American Song Machine’’ was presented by The Spurrlows. # # • • ® Managing For Change Day two began with a special in terest breakfast to provide updated ^ information on new products and services available through the MBA. The morning’s first speaker was Dr. William Staats, professor of £ Finance, Louisiana State Univ., Baton Rouge, who discussed adapt ing and planning for change. He stressed the importance of learning how to adapt “because we are all £ subject to change in the banking in dustry.’’ In his opinion, the biggest Minnesota News 27 change facing banking today is dere gulation. He encouraged bankers to plan for the future and “capitalize Largest Banks in Minnesota on your own bank’s strengths and your competitors’ weaknesses.’’ In EPOSITS and loan figures for Minnesota banks reporting deposits of conclusion, Dr. Staats told his audi $85 m illion or more at year-end are shown in the chart below. Com ence, “either manage change or face parative figures from a year ago are featured.1 a change in management.” (Last three figures omitted) In his presentation entitled “Mar December 31, 1986 December 31, 1985 keting in a Changing Environ Deposits Loans Deposits Loans ment,” Gary Raddon, president, 1. First Bank Mpls........................................ $5,826,851 $5,550,185 $5,415,656 $5,288,614 Raddon Financial Group, Chicago, 2. Norwest Bk. Minneapolis, N.A................ 3,561,253 3,804,694 3,783,141 3,677,252 said there are two distinct market 3. First Natl., St. P aul.................................. 3,202,279 3,180,549 3,162,067 2,717,902 891,442 680,486 1,027,646 groups in banking. The first is the 4. Marquette Bk., Minneapolis1 ................ 1,117,419 433,864 344,944 454,934 409,036 Norwest Bank St. Paul, N.A..................... mass market—those who desire the 5. 391,344 399,505 419,385 411,116 6. American Natl. B&T, St. P a u l................ traditional banking services like 7. Natl. City Bk., Mpls................................... 255,207 256,864 350,401 378,016 checking and savings accounts. The 8. First Bk. Duluth, N.A................................ 302,157 182,941 171,068 330,233 243,093 153,231 283,480 153,035 second is the investor market. This 9. Norwest Bk. Bloomington, N.A............... 261,727 229,064 222,578 275,463 group is looking for safety, high re 10. First Southdale Natl., E d in a .................. 197,373 272,134 160,505 264,966 First Bank Lake, N.A., Mpls..................... turns on their money, and invest 11. 196,257 286,280 215,590 12. Norwest Bk. Midland, N.A., Mpls............ 250,113 ment opportunities. “The banking 13. First Natl. Hopkins ................................ 207,757 249,234 189,400 235,979 industry cannot offer the services 14. First Edina Natl. Bk.................................. 236,487 198,982 146,873 141,431 169,671 130,290 208,373 146,036 that many customers want because 15. Norwest Metro West, N.A., Hopkins . . . 208,464 16. First Bank Rochester.............................. 205,917 145,590 152,540 of federal regulations,” said Mr. 17. 144,764 208,096 159,331 Norwest Bank Duluth, N.A...................... 205,633 Raddon. This, of course, is one of the 18. Norwest Bank Rochester, N.A................ 154,642 202,334 170,787 193,308 challenges facing the banking indus 19. Midway Natl., St. P a u l............................ 118,793 143,630 182,301 200,115 20. Community State Bk., Bloomington . . . 195,826 92,341 168,923 97,788 try today. 186,897 202,392 186,319 181,911 Mr. Raddon said that pricing stra 21. First Bank East, St. P a u l........................ 111,054 163,278 Richfield B&T, R ic h fie ld ........................ 186,648 130,891 tegies and non-traditional services 22. 179,337 83,544 191,493 94,580 23. First Bk. Minnesota, N.A. V irg in ia ........ will enable banks to increase their 24. Norwest Bk. Central, N.A., Mpls............. 162,583 122,322 178,208 132,953 145,829 126,887 167,550 134,209 profits. One non-traditional method 25. First American Natl., St. C loud.............. 92,474 161,988 150,830 88,540 Mr. Raddon mentioned was the 26. Merchants Natl. Bk., W in o n a ................ 102,944 27. Commercial State, St. P a u l.................... 161,426 110,859 153,432 home equity line of credit. This ser 28. First Natl., A n o ka.................................... 161,353 107,916 152,800 101,405 vice, said Mr. Raddon, “will serve 29. Wayzata B&T Co....................................... 160,711 142,921 106,704 111,553 your customer from the cradle to the 30. Eastern Heights State Bk., St. Paul 159,175 140,212 90,156 104,235 156,367 148,537 31. First Bank, R obbinsdale........................ 88,405 104,631 grave.” 149,824 86,937 76,845 129,186 The final speaker, Barbara Han 32. Norwest Bk. Calhoun-lsles, N.A., M p ls.. Norwest Bank Mankato, N.A................... 131,424 133,406 119,416 112,391 ley of Hanley and Associates in Min 33. 34. Marquette Bank, R o c h e s te r.................. 122,788 75,029 89,945 63,161 neapolis, gave an insightful presen 35. First Natl. Bk., Bemidji .......................... 111,827 63,147 122,592 67,945 121,941 78,832 tation on managing people in a 36. Zapp Natl. Bank, St. C lo u d .................... 92,056 113,636 76,057 60,092 119,445 98,236 changing environment. Ms. Hanley 37. Liberty State Bank, St. P a u l.................. 95,664 38. First Bank Grand, N.A., St. P a u l............ 119,215 77,210 119,791 said that 27% of the work force in 39. Park Natl. Bk., St. Louis P a r k ................ 106,027 61,545 54,743 115,709 the United States is turned off by 40. First American Natl. Bk., Crookston . . . 111,504 62,122 115,159 63,333 their job, boss and employer, “thus 41. First Natl. Bk., Austin ............................ 53,687 113,427 46,551 121,245 103,654 79,895 112,677 75,379 influencing everyone else around 42. First Bank, M a n k a to .............................. 112,406 100,346 48,283 them.” “Excellence is a condition 43. Norwest Bk. Camden, N.A., Mpls........... Norwest Bk. Maple G ro v e ...................... 61,489 102,984 59,051 111,988 that can’t be bought, and it is found 44. 45. Roseville Bk., R oseville.......................... 111,147 66,237 52,797 90,988 in those that make few mistakes and 46. Drovers First Amer. Natl., S. St. Paul . . . 83,114 72,074 111,038 98,498 110,549 47,154 93,402 56,442 can anticipate problems in the work 47. Norwest Bank Marshall, N.A................... 109,506 47,640 111,076 59,065 place,” she added. Ms. Hanley 48. Norwest Bk., Mesabi, N.A...................... Norwest Bank Moorhead, N.A................ 109,367 62,683 101,539 66,185 summed up her philosophy in four 49. 50. Shelard Natl., St. Louis P ark.................. 105,964 79,070 87,780 70,834 points: 1) Don’t tolerate mediocrity 51. Metropolitan Bk., B lo o m in g to n ............ 105,612 71,108 97,044 65,751 in the work place—it spreads. 2) 52. Citizens B&T, H utchinson...................... 103,839 54,480 93,568 51,065 103,049 54,076 94,054 57,089 Evaluate your reward system. 3) Re 53. First Natl. Bk., S tillw a te r........................ Norwest Bank Owatonna, N.A................ 100,341 60,565 91,895 64,035 examine policies on people relations. 54. 55. Goodhue County Natl., Red Wing ........ 97,504 65,555 94,408 61,033 4) Don’t lose your own commitment. 56. Norwest Bank, Winona, N.A................... 97,348 60,740 96,895 72,222 D □ Promoted in St. Cloud Mark Christianson, Terry Kurowski, Richard Remer and Robert Treadway have been promoted to as sistant vice presidents at Zapp Na tional Bank, St. Cloud. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 57. 58. 59. 60. 61. 62. 63. 64. 65. First Bk. White Bear Lake, N.A............... First State Bk., G raceville...................... Norwest Bank Faribault, N.A.................. First Bk. Security, N.A., St. P a u l............ North Star Bk. Minn., C ry s ta l................ Winona Natl. Savings Bk......................... Signal Bank, West St. P a u l.................... First State Bk., New B rig h to n ................ Norwest Bk. South St. Paul, N.A............. 63,034 96,377 57,136 89,145 96,220 28,330 96,300 33,270 95,332 61,705 91,202 61,439 94,787 73,230 71,475 90,783 91,816 59,726 89,389 50,618 91,358 44,256 43,652 81,911 89,638 63,055 80,765 63,555 89,315 43,509 78,501 41,316 87,902 63,354 92,889 65,436 in c lu d e s Fidelity Bank, N.E., Minneapolis, which merged with Marquette Bank. Northwestern Banker, March, 1987 28 Minnesota News NORWEST staff members at the Silver Bay workshop included, left to right, Carolyn Roberts, pres., Norwest Bank Two Harbors/Silver Bay; Harriet Vandenheuval, mgr., Silver Bay office; Teresa Matchett and Nancy Christenson, members of the Silver Bay office staff; Carolyn Sundquist, Norwest’s regional comm. off. and Brenda Claflin, Two Harbors office. RIGHT— Carolyn Roberts with workshop attendees in background. Norwest Helps Minnesota Jobless Begin Again Written especially for T he N orthw estern B a nk er By CAROLYN ROBERTS President and CEO Norwest Bank Two Harbors, N.A. Two Harbors, Minn. NEMPLOYMENT is an unfor U tunate reality for many resi dents of northern Minnesota. Silver Bay and Two Harbors, Minn, suf fered a new economic blow when Re serve Mining Company, which em ployed nearly 400 local residents, was shut down indefinitely after its parent company filed for bankrupt cy. The staff of Norwest Bank Two Harbors recognized that these newly-unemployed needed help in get ting back on their feet. One way Norwest decided to help was to pro vide sponsorship and support for a free one-day workshop for laid-off Reserve Mining workers, their fami lies and friends. The workshop was designed by Re-employment Connections, a pro gram of Lutheran Social Services of Minnesota, with input provided by a committee of local volunteers repre senting the churches, United Steel workers Union, salaried personnel at Reserve, and other groups. More than 200 people attended the event. Norwest became involved because it gave us a chance to show our cus tomers that we care about the conse Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis quences of this tragic shut down. These people have special needs and anxieties at this point and we wanted to help. The workshop seemed like a great way to do that. The day-long workshop was held at the Silver Bay high school and featured several different segments. The first was a discussion and analy sis of rebuilding one’s life after be ing laid off and how to take charge of this new situation. Some points discussed during the session in cluded impact of the lay off on the whole family, ways of coping with the situation and understanding and accepting the personal reaction to being laid off. An overview of community re sources available to help the laid-off worker and his or her family was also given. After a free lunch, the afternoon program began with sessions that looked at possible relocation, ways to get a job after the age of 50 and how to sell your home. Free child care was provided so that parents of young children could attend the sessions without having to pay for child care, an expense few of the targeted audience could af ford. For many of the laid-off workers, relocation is the only alternative left. While we hate to see that hap pening in this area, we also hate to see them searching for jobs that don’t exist locally. We want them to begin looking for ways to get on with their lives. We hope that Norwest’s support will be remembered by the partici pants with good feelings about Nor west so that in their new homes they’ll come to us first for their banking services when they get resettled. Lutheran Social Service plans a follow-up survey to measure the im pact of the workshop. Staff leaders have reported they are confident there have been positive benefits. Similar projects in other areas where employment has been severely dis rupted are being considered. □ Appointed in Elk River First National Bank of Elk River has announced the appointment of Roger Hebeisen to assistant vice president. He had been with Norwest for 15 years and m ost recently served the Nor west Bank in Stillw ater. He will concentrate in commercial R- HEBE,SEN lending, but will also assist in all phases of lending and business development. MINNESOTA NEWS. . . (Turn to page 30, please) % # # • 29 Changes Told in Green Bay Kenneth W. Wery has joined Valley Trust Company, Green Bay, as senior vice president operations executive. He has been in banking 17 years, most recently as vice presi d e n t-tru s t operations with Associ ated Kellogg, Green Bay. Mary J. Marquis has been pro moted to vice president at the trust company. Her responsibilities in clude administration and compli ance for corporate retirement plans and new business development. She became associated with Valley Trust in 1973, and in 1985 was nam ed assistant vice president. Darlene D. Kuschel has joined Valley Trust as vice president—per sonal trust. Mrs. Kuchel previously served as assistant vice president and tax officer with Associated Kellogg. Pres. Named in Woodruff Timothy E. Cross has been named president and CEO at Valley Na tional Bank, Woodruff. He has been with Valley for 12 years, most re cently as vice president of Valley Bank of Brownsville. Prior to that he was manager of the Valley Bank of Hortonville and Dale, and a man agement trainee at Valley Northern Bank. Promotions in Lake Mills Gary C. Vande Zande has been promoted to senior vice president of the Greenwood’s State Bank, Lake Mills. He joined the bank in 1977 as assistant vice president and was elected to the board and promoted to vice president in 1980. Prior to that, he spent 10 years with First Wiscon sin National Bank of Oshkosh, most recently serving there as a loan offi cer. Promoted to vice president and cashier was Mary Lou Treptow. She has been with the bank since 1962 and has been cashier since 1974. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Also promoted, Carole Wolfgram has been named operations officer. With the bank since 1965, she has served as assistant cashier since 1974. Firm Formed in Racine The Elmwood Leasing Company, a wholly-owned subsidiary of the Bank of Elmwood, Racine, has been formed. Jess S. Levin, president and CEO of the bank, said the Bank of Elm wood has purchased the assets of the Arthur Peters Leasing Company presently located at 2806 Lathrop Ave., Racine. Donald Lasch, who had been owner and president of Ar thur Peters Leasing Company, will continue as vice president in the new firm. Mr. Levin said the company has been active in the auto and leasing business and will be expanding into leading computers and telephone systems and a wide variety of equip ment to businesses and individuals. Plans are underway to move the leasing company to expand new facilities in the near future. Largest Banks in Wisconsin EPOSITS and loan figures for W isconsin banks reporting deposits of $100 m illion or more at year-end are shown in the chart below. Com D parative figures from a year ago are featured. (Last three figures omitted) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. First Wisconsin Bk., M ilw aukee............ M&l Marshall & llsley Bk., Milwaukee .. Marine Bank, N.A., M ilw a u ke e .............. First Bank Milwaukee, N.A...................... Marine Bk. West, W aukesha.................. First Wisconsin Natl. Bk of Madison . . . First Interstate Bk. Wis.-Sheboygan . . . Associated Kellogg Bank, Green Bay .. Heritage B&T, R a c in e ............................ M&l Northern Bank, Brookfield ............ Peoples Marine Bk., Green B a y ............ M&l Bk. of Hilldale, Madison ................ First American Natl. Bk. of Wausau . . . Marine Bk. South, N.A., Racine ............ First Natl. Bk. of Kenosha...................... First Wisconsin Natl. Bk., Sheboygan .. Valley Bank, A p p le to n ............................ Valley Bank, M a d is o n ............................ First Wisconsin Natl. Bk., Eau C laire. . . M&l Bank of Madison ............................ Valley Bank, Green B a y .......................... F&M Bk., Menomonee F a lls .................. M&l Wauwatosa State B ank.................. First W isconsin Natl. Bk., Oshkosh . . . . Valley Bank, Ja n e s v ille .......................... Associated Manitowoc B a n k ................ Marine Bk. Dane County, M adison........ Waukesha State B a n k............................ First Wisconsin Natl. Bk., Fond du Lac . First Bk. Southeast, N.A., Franksville .. Natl. Exchange Bk., Fond du L a c .......... First Natl. Bk., West B end...................... Norwest Bk. La Crosse, N.A.................... Bank of Sturgeon B a y ............................ Marine First Natl. Bk., Ja n e sville .......... First Interstate Bk. of Wisconsin, N.A. . First Natl. Bk. of Neenah........................ First Natl. Bk., Stevens P o in t................ First Natl. Bk., Wisconsin R a p id s ........ Park State Bk., M ilw a u k e e .................... First Natl. B&T of B e lo it........................ M&l Bank of B e lo it.................................. First Bk. Southeast, Lake Geneva, N.A.. December 31, 1986 December 31, 1985 Deposits Loans Deposits Loans $3,129,967 $2,733,107 $2,887,542 $2,598,439 1,542,869 1,055,800 1,528,000 1,136,000 1,194,139 1,026,757 1,114,981 969,955 808,894 755,778 748,274 629,962 544,635 312,524 507,650 316,395 498,315 229,306 265,067 450,900 397,232 293,503 425,612 281,956 391,559 268,535 339,888 259,244 299,019 195,410 289,955 179,736 249,593 165,277 236,657 160,452 247,689 144,498 210,759 134,537 242,761 182,855 221,460 175,044 240,050 181,087 195,900 137,640 240,048 151,470 231,487 148,545 237,014 110,749 211,243 84,006 223,662 194,959 192,956 180,508 219,680 127,993 203,947 145,876 217,604 156,409 193,440 148,639 203,180 119,777 183,082 122,528 195,134 119,524 157,442 99,298 194,714 145,521 176,990 131,592 190,830 142,454 177,433 126,879 180,919 42,809 160,760 42,350 175,532 110,265 156,804 106,119 174,632 121,379 164,782 133,302 172,394 105,011 156,638 93,563 168,303 109,446 166,006 95,499 168,009 139,359 144,654 117,086 157,188 88,026 146,625 80,566 156,212 105,774 146,016 106,891 150,491 116,340 149,056 96,218 147,622 73,718 144,911 100,242 147,480 101,945 133,775 99,908 141,180 93,120 129,739 81,053 138,132 85,432 126,742 86,760 136,478 86,594 134,001 89,646 134,839 101,434 130,913 90,949 127,492 72,175 113,694 71,453 123,705 53,818 106,792 39,542 118,713 74,639 104,803 55,979 112,147 74,755 105,184 68,999 111,213 71,471 111,960 59,742 110,633 60,226 103,765 62,825 Northwestern Banker, March, 1987 30 Wisconsin News ton. He has been with Valley for four years, most recently as senior staff At Valley First National Bank of accountant. Beaver Dam, Thomas E. Sprague, Betsy Lubke has been named as assistant vice president, has been named area marketing officer for the sistant training director for Valley Moraine Region, north and west of Bancorporation. She will coordinate Milwaukee. He will continue as sales corporate training in southern Wis and marketing director for the consin. Ms. Lubke has been with Valley First National Bank of Bea Valley Bank, Janesville for the past ver Dam. Mr. Sprague has been with seven and a half years, most recent the bank for the past five years, ly as training officer. most recently as real estate loan of ficer. The Moraine Region was pre Elected in Eau Claire viously assigned to Nancy Wilhelm, Errol G. Hohmann, first vice assistant vice president, Valley president of First Wisconsin Corpo Bank, Janesville, who is now respon ration, has been elected to the board sible for the Capital Region in the of First Wisconsin National Bank of Madison area. Eau Claire. He replaces Chris M. Bauer. Named in Beaver Dam State Bank, Hartland. The bank will retain its existing board of directors ® and officers. With the addition of Suburban, Valley Bancorporation will have assets in excess of $2.2 bil lion and deliver financial services through 77 locations. • Appointed in Madison Robert H. Laux has been ap pointed to chief financial officer and f cashier of The Park Bank Madison. He joins the bank after affiliation with Arthur Young and Company. He is a certified public accountant. Added in Oshkosh Alf R.H.R. Langan has joined Valley Trust Company, Oshkosh, as Promoted in Appleton trust officer, employee benefit ser- ^ vices. He comes from First National David L. Stoehr has been pro Hartland Bank Acquired Valley Bancorporation has an Bank & Trust Company of Rock moted to financial reporting officer for Valley Bancorporation, Apple nounced it has acquired Suburban ford, 111. MINNESOTA NEWS. . . (Continued from page 28) Appointed in Montevideo First National Bank has an nounced the appointment of Randy Morehart as assistant vice presi dent-general loan officer. He has five years experience in commercial, agricultural, real estate and con sumer lending. Prior to his position at First National Bank, Mr. Morehart served as assistant vice presi dent at Glenwood State Bank. Joins Pierz Bank Maurice Durheim has joined the staff of Farmers & Merchants State Bank, Pierz as loan officer. He was for merly employed at First Ameri can B ank & Trust, Marshall as an agricul tural loan repre sentative. In ad dition, his em M. DURHEIM ployment experi ence includes Production Credit As sociation, Mankato; student center manager, Southwest State Universi ty, and Ecker Feed Service and Todd County Feeds, New Munich. Mr. Durheim replaces Greg Tschida, cashier, who resigned to take an Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis advanced position in a bank in Wa commercial loan officer and man ager of the Baxter office of First dena. American Bank. Promoted in Montevideo Four Named in Winona Heather Beukhof has been pro moted to audit and compliance offi cer of First Na tional Bank in Montevideo. She will be respon sible for audit, compliance and bank security. Jo in in g th e bank in 1979, she has worked in a variety of positions most recently in the auditing and compli ance areas of the bank. Four new officers of Winona Na tional and Savings Bank have been elected. Debbie Brommerich, who has worked at the bank since 1971, has been named personal banking offi cer. Linda Eekhoff, who has also worked at the bank since 1971, has been elected operations officer. Named auditor was Jeanne Masyga, who has been with the bank for three years. Betty Redig, who has been employed by the bank since 1961, has been advanced to loan officer. Promoted in Brainerd Bremer Grants Scholarships Linda Greenheck and Rod Rangen, staff members at First Ameri can Bank of Brainerd, were recently promoted by the bank’s board of directors. Ms. Greenheck was promoted to operations officer. She was previous ly customer service manager, with responsibilities for the teller, book keeping and proof operations. She has been with the bank 11 years. Rod Rangen, commercial loan of ficer at First American, was pro moted to assistant vice president. Mr. Rangen has been with the bank nine years—seven years as in install ment loan officer, and two years as a The Otto Bremer Foundation and Bremer First American Banks have made $15,515 available for scholar ships to Minnesota Elder hostel in 1987. This is the tenth year The Bremer Foundation and Banks have given support to Minnesota’s chal lenging educational program for older adults. The 1987 grant will of fer financial assistance to up to 107 participants. To qualify for a scholarship, a per son must be over 60 years of age and reside in a Bremer Bank community. Elderhostel is a total living/learning experience, offered this year at 37 sites throughout Minnesota. • ^ ^ £ ^ ^ £ £ Roger Beverage, pres., Banc Analysis, Inc., Lincoln, Neb. 11:45 “ Psychology (Idiosyncra sies) of a Farmer and a B anker” —B axter Black, Brighton, Colo. P.M. 1:00 Adjournment. □ Eight Promoted in Pierre Several promotions have been an nounced by First National Bank, Pierre. Brent Dykstra “Chapter 12 and the Family Farmer Bankruptcy Act of has been elected 1986”—William Mapother, p re sid en t and Sr., partner, Creditors Law chief executive officer, and will Center, Louisville, Ky. “Legislative Update”—Milt su p erv ise the Schwartz, exec, v.p., SDBA. main office in Pierre and the Reception (cash bar). b ra n c h e s in Buffet dinner. L ead, Mur do Thursday, April 9 and Midland. He started with the bank in 1975. Buffet Breakfast. William Fuchs was elected senior “MASI Ag Services Real vice president and cashier. He is a E s ta te M ortgage Loan certified public accountant; and Funding” —Steve Stahly, joined the bank in 1983. Mr. Fuchs pres., MABSCO Ag Ser is responsible for the operations and vices, Inc., Des Moines, la. customer service function of the “Negotiations”—Art Pulis, bank, and is the investment officer. Pulis & Associates Consult Todd Douglas was elected assis ing, Wickenburg, Ariz. tant vice president and commercial Break. “How to Prepare for an Ex am” and “Legal Aspects of SOUTH DAKOTA NEWS. . . Concern for B ankers” — (Turn to page 39, please) SDBA Ag Credit Conference to Be Held HE 1987 Agricultural Credit T Conference of the South Dakota Bankers Association will be held April 8 and 9 at the Kings Inn in Pierre. Featured speakers include Dr. John F. Marten, staff economist of Farm Journal; William Mapother, a Louisville, Ky., attorney national ly recognized for his expertise on bankruptcy; Roger Beverage, for mer director of the Nebraska De partment of Banking, and ag colum nist and humorist Baxter Black. Pre-registration is $159 and in cludes luncheon, banquet, breakfast, breaks and the program. On-site fees will be $169. Register through the SDBA office. The program schedule is as follows: Wednesday, April 8 A.M. 8:00 Registration. 9:00 Call to Order—Boyd Waara, chmn., SDBA Ag Credit Committee, v.p., First Na tional Bank, Philip. O fficial W elcom e —B. Michael Broderick, Jr., pres., SDBA, pres., First American Bank, Canton. Address: “ The National S cene’’—The H onorable Vance L. Clark, admin., FHA, Washington, D.C. 10:00 “ A gricultural Outlook” — Dr. John F. Marten, Farm Journal, West Lafayette, Ind. 11:00 “ Economic U pdate and Forecast: South Dakota”— Dr. Jerry W. Johnson, prof, of econ., U. of S. Dak., Ver million. P.M. 12:30 Luncheon “The Farm, the Farmer and the Futures Market Work ing T o g e th e r’’—M ichael Braude, pres., Kansas City Board of Trade. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1:30 4:00 5:30 6:30 A.M. 7:00 8:00 8:30 9:30 9:45 Largest Banks in South Dakota EPOSITS and loan figures for South Dakota banks reporting deposits of $50 m illion or more at year-end are shown in the chart D below. Comparative figures from a year ago are featured. (Last three figures omitted) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Citibank, N.A., Sioux Falls .......... .......... Norwest Bank South Dakota, N.A.......... First Bk. of South Dakota, N.A................ First City Bk., Sioux Falls, N.A................ First Natl. Bk. in Sioux F a lls .................. Western State Bk., Sioux F a lls .............. BankWest, N.A., P ie rre .......................... First Natl., Brookings ............................ Farmers & Merchants B&T, Watertown . Farmers & Merchants, H u ro n ................ Commercial Bk., M itc h e ll...................... Valley National Bk., Sioux F a lls ............ United National Bk., Sioux Falls .......... Pioneer B&T, Belle F o u rc h e .................. American State Bk., Y a n k to n ................ Farmers State Bank, W inner.................. Farmers & Mer. B&T, Aberdeen ............ Live Stock State Bk., M itc h e ll................ Farmers State Bank, P a rksto n .............. First National Bk., P ierre........................ December 31, 1985 December 31, 1986 Loans Deposits Loans Deposits $1,691,402 $9,573,644 $2,054,864 $7,915,851 863,155 911,032 1,331,892 1,321,967 872,015 980,996 771,431 879,680 628,163 74,774 588,922 262,883 129,792 213,405 221,387 139,225 121,918 111,026 178,886 180,935 86,548 130,689 71,948 122,363 103,414 65,083 68,248 108,798 95,271 46,848 98,660 52,896 54,078 92,655 52,142 98,115 98,652 51,038 51,137 97,096 36,077 83,167 37,539 86,493 50,495 88,500 48,789 80,079 31,099 77,709 33,543 79,954 70,763 40,751 74,265 42,203 35,612 74,321 34,061 73,980 60,194 42,489 40,912 64,528 33,122 64,441 64,471 33,163 18,670 55,451 18,052 57,513 56,779 35,123 28,607 56,208 Northwestern Banker, March, 1987 32 Two Named in Valley City First National Bank of Valley City has named Jack Marthaler as senior vice president, and Mike Killoran as vice president and ag loan manager. Mr. Marthaler joined First Bank System in 1960 and has been with First National Bank of Valley City since 1984 as vice president. He worked at First Bank Jamestown and First Bank Southdale, Edina, Minn., prior to joining the bank. and community members in August of 1985. They are First Bank Cando, First Bank Langdon and First Bank Rolla in North Dakota. The sales are pending regulatory approval. Speci fic purchase terms were not dis closed. Agreements have now been signed for 41 locations. A group composed of bank em ployees, community members and all of the bank’s directors will pur chase First Bank Cando upon regu latory approval. David Wolsky, who is currently vice president and cash ier, will serve as president. C.N. Davis, a former president, will serve as chairman of the board. The majority interest of First Bank Langdon, which will be orga nized as a one-bank holding com pany, will be held by the Walhalla State Bank, located 25 miles north east of Langdon. A group of direc tors, employees and community members will own the remaining in terest. The present management and staff will be retained. First Bank Rolla will be pur chased by a group composed of a bank director, community members and employees, including Daniel R. Vollmer who will serve as president. NDBA Offers Bank Investment Seminar The North Dakota Bankers Asso ciation Bank Investment Seminar will be held March 26-27 at the Sheraton Galleria in Bismarck. Fea tured speakers include Wayne Han sen of First Wisconsin National Bank in Milwaukee, Minne Schroeder of Marquette Bank in MinneapoNORTH DAKOTA NEWS. . . (Turn to page 37, please) Largest North Dakota Banks D.J. SORUM M.A. HAAS EPOSIT and loan figures for North Dakota banks reporting $50 m illion or more deposits are shown in the chart below as reported at D year-end. Comparative figures for a year earlier also are reported. (Last three figures omitted) J. MARTHALER M. KILLORAN Mr. Killoran joined the bank in 1984 as assistant vice president. In 1985, he was named assistant vice president and ag loan manager. Prior to that, he was Stutsman County Supervisor for Farmers Home Administration. Three First Banks to Be Purchased First Bank System has an nounced that purchase agreements have been signed for the sale of three more of the 45 First Bank locations offered first to employees, directors Northwestern Banker, March, 1987 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. Bank of North Dakota, Bismarck . First Bk. of N. Dakota, Fargo First Natl. Bk, Grand F o rk s .......... Norwest Bk. Fargo, N.A................. First Bank of Bismarck, N.A......... Norwest Bank B is m a rc k .............. Norwest Bk. Minot, N.A................. American State Bk., W illiston Dakota B&T, Fargo ...................... First Interstate Bk. Fargo, N.A.1 .. First American B&T, M in o t.......... Norwest Bk. Mandan, N.A............. First Bk. of N.D., Grand Forks First Bk. of N.D., M in o t................ First Natl. B&T, W illiston ............ Valley Bank & Trust, Grand Forks First American B&T, Grafton . . . First Natl. B&T, B ottineau.......... United Bank of Bismarck2 .......... First Bk. of N.D., Jamestown . . . First Western St. Bk., Minot . . . . Liberty Natl. B&T, Dickinson . . . Norwest Bank Grafton, N.A........ Norwest Bk. Jamestown, N.A. .. Norwest Bk. Wahpeton, N.A. . . . First Int. Bk. of W atford C ity ----Ramsey Natl. Bk., Devils Lake .. First Natl. Bank of Bowman . . . . First Bk. of N.D., Wahpeton . . . . December 31, 1986 Deposits Loans $213,486 $572,849 167,043 226,428 108,975 192,739 123,856 171,492 111,670 162,334 95,588 162,051 89,863 147,413 69,415 127,156 119,547 85,011 88,554 115,099 70,887 106,542 49,821 96,780 68,936 85,975 44,178 84,209 37,508 83,444 35,750 77,946 41,892 77,222 26,156 73,445 43,769 72,908 36,855 72,246 48,877 70,821 31,003 65,993 27,235 65,751 36,796 62,130 33,303 59,647 22,211 59,066 29,350 53,792 22,017 53,111 33,265 51,093 ’ Formerly Fargo National Bank & Trust fo rm e rly State Bank of Burleigh County, Bismarck. December 31, 1985 Deposits Loans $242,284 $630,172 176,845 234,038 105,403 181,942 117,581 152,915 123,429 168,480 128,578 147,404 96,022 142,244 71,678 124,882 121,241 93,901 86,251 119,328 68,704 107,083 61,049 97,750 65,549 87,362 52,811 93,778 53,473 120,087 32,663 70,670 46,909 75,400 25,330 71,018 40,816 65,079 42,177 79,708 45,881 65,876 35,090 68,585 30,637 59,582 41,160 62,197 38,187 54,332 21,733 59,194 30,376 50,731 20,104 52,566 45,265 58,393 33 Affiliated Bank Corp. ^ Reports Net Loss for 1986 ^ £ # # In a related transaction, Affi liated also announced an agreement to issue new common stock for cash to ABC Financial Corporation, a company led by John C. Amman and representing a group of investors primarily in Wyoming and Colorado. Mr. Amman retired from Arthur Anderson & Co. in late 1985 after serving as the managing partner of the Denver and Salt Lake City of fices and working with many compa nies in Wyoming, Colorado and Utah. He is chairman of the board of in August 1970 with eight Norwest The First National Bank of Lovell. banks located in Casper, Cheyenne, Joining Mr. Amman in the invest Gillette, Kemmerer and Wheatland, ment group are: Teno Roncalio; Mar Wyo. vin F. Owens, Jr., senior vice presi dent, Central Bank of Denver, and Affiliated to Acquire Bank, his son Marvin F. Owens, III, for Issue Stock for Cash merly president of Central Bank of Affiliated Bank Corporation of Broomfield, Colo., and The Rawlins Wyoming has announced an agree National Bank, Rawlins. Together with the acquisition of ment to acquire The First National Bank of Lovell, making it the ninth bank in Affiliated’s Wyoming net work. The bank is being acquired WYOMING NEWS. . . from Oren L. Benton of Denver, (Turn to page 37, please) Colo. Affiliated Bank Corporation of Wyoming has reported its financial results through December 31, 1986. R.W. Miracle, president and CEO of Affiliated, said, “For the fourth quarter, 1986, Affiliated is reporting a net loss of $6,569,000 ($5.54 per share), which includes a $5,734,000 addition to the allowance for loan losses. The provision for loan losses for the full year was $19,162,000 which resulted in a loss for the full year 1986 of $17,980,000 ($15.17 per share). “As a result of the addition to the allowance for loan losses and net charge-offs of $8.2 million, the in crease in the allowance for loan losses was $11.0 million and brought the total allowance for loan losses to Largest Banks in Wyoming $15.1 million or 6.2% of loans at year-end. These reserves are in addi EPOSIT and loan figures for Wyoming banks reporting deposits of tion to the $21.0 million of equity $50 m illion or more at year-end are shown in the chart below. Com capital, which results in primary parative figures from a year ago are featured. capital of $36.1 million. This is 7.6% (Last three figures omitted) of total assets, well in excess of the December 31, 1985 December 31, 1986 regulatory minimum of 5.5%.“ Loans Deposits Loans Deposits Mr. Miracle said an important 1. First Interstate Bk. Casper, N.A............. $244,679 $169,793 $255,824 $175,961 achievement in 1986 was to imple- 2. Norwest Bank Casper, N.A...................... 187,192 114,166 216,111 145,885 53,027 51,730 153,409 145,165 ment plans for the reduced level of 3. Rock Springs N a t l .................................. 158,104 92,564 137,721 86,312 business in Wyoming, as a result of 4. Stockmen’s B&T, G ille tte ...................... 72,747 113,516 75,311 101,982 5. First Interstate of Sheridan .................. the economy, which will reduce the 6. 60,522 First Interstate of L a ra m ie .................... 106,786 57,053 109,918 overhead costs of the company in 7. Norwest Bank Cheyenne, N.A................. 84,344 104,801 71,338 122,477 1987. He said the effects of the 8. American Natl. Bk. of Cheyenne .......... 58,167 105,989 62,655 102,798 98,319 32,111 96,693 31,659 loan loss provisions in addition to 9. First Natl. Bank, G ille tte ........................ 50,112 First Natl. Bank, Pow ell.......................... 95,357 42,173 86,055 the reductions in overhead costs are 10. 51,090 11. Jackson State B ank................................ 88,601 47,299 76,043 expected to result in a return to 12. Shoshone First Natl. Bank, C o d y.......... 77,274 82,753 23,785 27,430 meaningful profitability in 1987. 75,772 47,486 72,163 49,813 13. Rawlins Natl. Bank ................................ 72,124 50,664 67,357 47,981 Total assets at year-end were 14. Hilltop Natl. Bk., C a s p e r........................ 69,832 47,050 33,033 74,159 $458.6 million, which represents a 15. First Interstate Bk. of Riverton, N.A. . . . First Wyoming Bank, Sheridan1 ............ 63,574 19,988 16,405 10,508 decrease of $64.5 million from the 16. 20,947 62,091 18,059 67,283 17. Converse County Bk., D ouglas.............. prior year. Total deposits were 18. First Wyoming Bk. N.A., Cheyenne . . . . 34,767 61,127 59,678 33,116 57,421 16,704 54,493 16,376 $401.9 million, a decrease of $47.9 19. North Side State, Rock S p rin g s ............ 57,207 22,476 56,440 26,199 million from December 31, 1985. 20. First Wyoming Bk. N.A., L a n d e r............ 55,975 30,567 47,826 27,821 21. First Wyoming Bk. N.A., Laramie2 ........ Total loans were $244.2 million, a 22. 55,377 23,892 First Natl. Bank, E v a n s to n .................... 20,545 50,628 decrease of $55.8 million from the 23. First Security Bk., Rock S prings............ 55,323 25,736 49,691 26,551 prior year. 52,546 28,188 56,587 31,807 24. Stockgrowers State Bk., W o rla n d ........ 51,706 22,322 52,937 29,708 Affiliated Bank Corporation of 25. Citizens Natl. B&T, T o rrin g to n .............. Wyoming is a Casper-based regis 1 Purchased First National Bank, Sheridan, when it was closed. 2 Formerly Bank of Laramie. tered bank holding company formed D # # ® ® _ ^ ^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis financial aikhmen Build strong customer relationships—and lay the groundwork for profitable banking—with credit services from First Wisconsin. Use our full range of financing tools to offer your customers maximum flexibility. Whether their credit needs are simple or complex, we’ll help you structure competitive loan packages. You’ll work closely with experienced officers who have the knowledge and authority to respond quickly to your needs. And as the lead bank, you retain the relationship with your customer. Draw on the credit services designed to help you build profits. Call First Wisconsin today at 414 765 4459 ( ) - . WHENPERFORMANCECOUNTS: III. FIRST W IS C O N S IN ©FWC 1986 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 36 W.E. Schreiber, pres., W h ite fis h J.T. C adby, exec, v .p ., Helena Montana Bank History Is a Treasure FTER four years from a concep A tual idea to the final, printed version, the Montana Bankers Asso ciation’s history of Montana bank ing, Treasure State Treasury, con tinues to be a big success in the State of Montana, The book relates in outstanding text and nostalgic pictures an exciting history of “Montana Banks, Bankers & Bank ing 1864-1984.” The book had its origins in a His torical Preservation Task Force ap pointed by Robert Reiquam, presi dent and CEO of First Bank Great Falls, when he was president of the Montana Bankers Association in 1981-82. The Task Force was chaired by the late William An drews, a former MBA president. At a 1982 meeting of the committee, MBA Executive Vice President John Cadby suggested a book as the best means of preserving Montana’s banking history, a book written by a non-historian, designed to appeal to all levels of present-day Montanans so they could enjoy the full flavor of the state’s 123-year history. That goal was achieved by con tracting with the Helena Indepen dent Record newspaper, which gave a leave of absence to senior reporter Bill Skidmore to research and write the book. He was assisted in great measure by Bill Lang, publications editor of the Montana Historical Society. The result is an absolutely out standing historical presentation written like an unraveling novel that records the early ups and downs of Montana’s banking and financial scene, yet charts the increasing curve in the chart of Montana bank ing success to its present pre eminent position. Montana was settled in great measure by two classes of pio neers—those who chose to move Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis further westward in search of open spaces and the good life of farming and ranching, and those who flocked to the mines when gold, silver and copper raised the lusty cries of in stant riches for those strong enough to stake their claims. Added to this was the millions of acres of abun dant pastureland for lush ranches housing hundreds of thousands of cattle, first moved overland in big drives, then later transported to markets by railroads which forever changed the more placid lives of all who chose to live and do business in what early on became known as The Treasure State. Photos are sprinkled liberally throughout the book, primarily of banks, mines and businesses, but others of private homes and the nos talgic steamboat DeSmet, which was one of a fleet of about 100 shal low-draft river boats that plied the Missouri River in better weather. Among the early banking pio neers were two prominent banking family names from Omaha and Des Moines. B.F. Allen, a leading Des Moines financier, and J.H. Millard of Omaha, opened the Allen & Mil lard banking firm in Virginia City on September 17, 1864. It is considered by historians as the territory’s first relatively “permanent” bank. Mr. Allen sent his 28-year old partner Millard to Montana the next year, and he opened the bank in late sum mer of 1865. The vault doors had failed to arrive so he painted wooden substitutes to look like the real thing—and got away with it until the missing doors arrived! From that point on, Author Skid- Largest Banks in Montana EPOSIT and loan figures for Montana banks reporting $50 m illion or more deposits are shown in the chart below as reported at year-end. D Comparative figures for a year earlier also are reported. (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 Bank of Billings, N.A. .. First Bank, N.A., B illin g s ........................ Norwest Bank Billings, N.A..................... First Natl. Bank of Great F a lls .............. First Bk.-Western Mont. N.A., Missoula Norwest Bk. Great Falls, N.A.................. First Security, B o ze m a n ........................ First Natl. Montana Bk., M is s o u la ........ First Bank H e le n a .................................. Norwest Bank A naconda/B utte............ First Bank Bozeman .............................. Norwest Bank H e le n a ............................ First Interstate Bk. of Kalispell ............ First Bank-Butte...................................... First Interstate Bank, Great Falls ........ First Security B&T, Miles C ity ................ First Citizens Bank, B illin g s .................. Norwest Bank Kalispell, N.A................... First Bank H a v re .................................... First Natl., Miles C ity .............................. Norwest Bank, Lewistown .................... First Bank L e w is to w n ............................ Citizens State, H a m ilto n ........................ First Natl. Bank, G lendive...................... Farmers State Bank, Conrad ................ Richland Natl. B&T, S idney.................... Security State, Plentywood .................. First Bank-West B illin g s ........................ Shelby First State Bank ........................ First National Bank of G lasgow ............ First Inter. Glacier County, Cut Back . . . December 31, 1986 Deposits Loans $270,840 $189,241 237,682 151,156 177,686 125,828 155,775 172,819 77,924 157,672 131,462 74,679 126,897 84,242 85,439 118,680 114,298 53,938 111,944 56,517 82,082 110,980 110,803 65,598 72,872 110,536 99,195 48,833 69,224 95,419 53,684 85,970 82,498 58,931 54,857 78,070 68,185 26,301 29,544 63,283 25,257 61,263 61,019 25,133 37,467 59,959 31,492 59,243 57,382 21,295 56,917 31,929 28,975 56,075 54,211 34,677 53,374 27,556 23,874 52,706 52,067 18,150 December 31, 1985 Deposits Loans $257,441 $201,802 202,186 259,200 180,544 148,077 183,882 176,113 166,655 87,818 130,821 85,579 85,183 117,661 108,016 81,923 109,007 54,033 108,677 57,065 120,284 112,525 99,173 70,220 107,324 74,360 104,922 67,680 99,747 68,949 49,851 85,815 58,324 75,385 55,050 78,435 67,838 32,346 74,830 39,178 38,902 58,726 42,701 69,780 56,827 36,690 55,538 36,911 21,112 58,958 56,228 34,891 56,357 25,802 38,613 55,339 34,907 57,547 27,090 53,171 18,960 52,740 • Montana News more does a skillful job of weaving those early pieces and ensuing more solid professional banking and legis lative doings into a most readable history that properly portrays the fascinating personalities of the play ers and banks alike. The Montana Bankers Associa tion printed 3,000 copies of the book, for which it took delivery last year. More than one-half of them have been sold already. Many banks have purchased copies for local schools and libraries. Mr. Cadby reports that other banks are considering buying books in quantity for distribution to staff personnel and directors as gifts, and to offer the books as incentives at their various banks. Single or bulk orders should be placed with Mr. Cadby’s office of the MBA at One North Last Chance Gulch (where else but in Montana could you find such a picturesque address!!), Helena, Mont. 59601, or 406/ 443-4121. □ Bank Helena. Earlier, he had been chief executive officer at Bank of Montana, Helena, and had been an investment broker. He succeeds Fred Napier, who resigned the com missioner’s office in mid-December. NORTH DAKOTA NEWS. . . WYOMING NEWS. . . 37 Malta. Mr. Scott attended Western Mon tana College at Dillon and is a graduate of the Pacific Coast Bank ing School at the University of Washington. He joined First State Bank as a teller in June, 1962, and progressed to assistant cashier and auditor in 1968, assistant vice presi Ron Scott Succeeds Roger dent in 1972, and then to vice presi Ulrich as Malta President dent and member of the board of di Roger Ulrich has been advanced rectors in 1983. Mr. Scott also is to vice chairman of the board at very active in local affairs and First State Bank; Malta, in anticipa serves as secretary-treasurer of tion of his retirement at the end of Group IV of the Montana Bankers this year. He has been succeeded as Association. president of the bank by Ron Scott, who was a vice president before his Promoted in Miles City advancement. Mr. Ulrich is a 45-year veteran Craig Rehm has been promoted to with First State Bank, where he vice president of First Interstate began working full-time in 1942. Bank of Miles However, he had also worked at the City. bank part-time in the 1941-42 school He joined the year as part of the Malta high bank in 1984 in school’s industry internship work the agricultural release program for seniors. After department and two years of WWII service, he was is actively in elected assistant cashier in January, volved in bank Fred Flanders Appointed 1946, the post he has held the past m arketing. In Montana Bank Commissioner 23 years. Mr. Ulrich was very active July 1987, he Fred Flanders assumed his new in civic and church affairs through will be the new duties as commissioner of Financial out his career. He served as presi president of the Institutions for the State of Mon dent of the Montana Bankers Asso Upper Midwest Agricultural Coun tana on January 19. He was former ciation in 1973-74. He and his wife, cil, a five-state organization of agri ly senior vice president at Nor west Audrey, will continue living in cultural bankers. (Continued from page 32) lis, Gary Omerza of American Na tional Bank in St. Paul, Bill Wolf and Bruce Hebei of First Bank in St. Paul/Minneapolis, and Mike Olauson of Norwest Investment Services in Minneapolis. Registration/luncheon is at noon on the 26th, with the program run ning until 5:00 p.m., at which time there will be a reception. The 27th begins with a buffet breakfast at 7:30 a.m., and the seminar concludes at noon. Contact the NDBA for more information. Elected in Bismarck David J. Sorum has been elected assistant vice president/marketing and business development officer of First Bank Bismarck. He joined the bank in 1985. Michael A. Haas has been elected commercial loan officer. He joined the bank as a commercial loan trainee in 1984. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tional Bank of Omaha, Neb. Prior to this appointment in Evansville, he (Continued from page 33) had been in senior management positions with several other Casper the Lovell bank, the stock issuance banks. represents increased capital of $11.7 million in Affiliated. Both the Lovell bank acquisition and the stock issu Elected in Casper ance are subject to regulatory appro John P. “Jack” Wold has been val and are expected to occur late in elected to the board of First Inter 1987. state Bank of Casper. He is a part Upon completion of these transac ner in Wold Oil and Gas Company tions, the previously announced op and a principal in Wold Drilling, tion to be acquired by Norwest Cor Inc., Wold Nuclear Company, Wold poration if banking laws were Oil Properties and Wold Highland, changed to permit acquisition will Inc. He is also president of Strata terminate. Data, Inc., and a partner in J&P As a result of these transactions, Partnership. ABC Financial Corporation and Mr. Benton will become the largest stockholders of Affiliated. Honored in Rawlins Named in Evansville Jay F. Bordewick has been named president and chief executive officer of Equality Bank of Evansville. He came to Casper in 1979 after 20 years with the United States Na Elmer A. Erickson, executive vice president, recently completed 40 years of service with The Rawlins National Bank. He and his wife, Ara, were hon ored by the bank’s officers, directors and employees. Northwestern Banker, March, 1987 38 Five Promoted in Denver Largest Banks in Colorado EPOSIT and loan figures for Colorado banks reporting deposits of D $75 m illion or more at year-end are shown in the chart below. Com parative figures from a year ago are featured. (Last three figures omitted) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. 50. 51. 52. December 31, 1986 December 31, 1985 Loans Deposits Loans Deposits $3,700,000 $2,600,000 $2,081,943 $1,419,674 1,568,223 1,165,079 1,684,635 1,176,084 747,452 958,604 712,328 1,106,330 999,854 697,082 666,945 939,373 298,881 364,532 253,909 423,966 293,427 204,830 291,257 218,738 197,746 282,263 200,179 284,048 257,402 213,746 276,416 204,493 258,772 184,649 267,495 164,906 226,304 149,230 214,263 146,805 165,166 215,869 140,725 201,408 123,194 174,180 205,670 267,759 159,806 124,529 185,865 134,710 127,521 168,840 107,060 186,293 158,745 110,065 166,506 104,911 120,297 113,154 149,870 161,787 82,184 154,725 93,853 150,898 127,364 130,341 141,191 144,429 89,613 84,453 133,428 137,715 138,409 98,160 136,800 75,900 93,842 125,589 83,846 134,937 160,934 82,103 113,545 126,595 57,920 55,217 112,751 119,402 78,357 65,009 117,742 105,486 111,332 86,765 117,722 86,170 117,207 104,145 66,859 61,936 107,096 50,242 114,130 47,223 77,034 83,257 103,723 113,663 52,270 58,873 95,939 110,408 52,811 109,607 49,796 97,816 100,522 75,100 102,450 71,349 99,952 64,756 100,719 62,153 79,279 63,556 101,620 100,877 80,735 75,480 101,438 99,901 72,847 98,294 71,612 98,264 55,738 102,406 97,061 37,828 69,341 71,647 89,710 96,775 94,464 54,438 53,978 96,538 90,257 51,053 52,705 95,102 67,927 90,338 62,040 88,886 66,271 93,880 51,753 86,743 53,874 57,074 76,005 86,589 55,499 86,746 42,198 85,468 64,312 101,760 48,000 85,000 68,757 81,368 84,117 71,599 51,458 73,381 82,756 48,189 60,849 66,754 72,751 82,595 56,241 82,672 49,801 82,121 79,447 62,153 63,764 80,806 58,598 59,374 64,709 80,634 40,049 76,680 36,331 77,947 46,002 72,807 42,972 76,609 United Bank, D e n v e r.............................. First Interstate Bk. of D enver................ Colorado Natl., D e n ve r.......................... Central Bank of D enver.......................... First Natl. Colorado S prings.................. First Colorado B&T, D e n v e r.................. United Bk. Colorado Springs, N.A.......... First Interstate, Fort Collins, N.A........... Exchange Natl., Colorado S prings........ First Natl., Boulder ................................ United Bank of Fort Collins .................. Denver Natl. B a n k .................................. First Bk, of Westland, N.A., Lakewood . First Natl. Bank of E nglew ood.............. First Interstate Bk., N.A., Golden1 ........ Cherry Creek Natl. Bk., D enver.............. First Interstate Bank, Englewood ........ Colorado Natl., P u e b lo .......................... Intrawest Bank of Greeley .................... Jefferson B&T, Lakewood...................... United Bank of L ittle to n ........................ Metro Natl., D e n ve r................................ Mountain St. Bk., Denver........................ First Natl. Bk. of Grand J u n c tio n .......... Intrawest Bank of B o u ld e r.................... Pueblo B&T, P ueblo................................ Colorado St. Bk. of D e n v e r.................... Lakeside Natl. Bk., D e n v e r.................... Minnequa Bank of P ueblo...................... First Natl. Bk. of Longmont .................. United Bank of Lakew ood...................... First Natl. Bk., Glenwood S p rin g s ........ Greeley Natl. B ank.................................. Central Bk., Colorado S p rin g s .............. United Bank of B oulder.......................... Intrawest Bk. of Grand Junction .......... First Natl. Bk., W e stm in ste r.................. First Natl. Bank, Loveland .................... Intrawest Bk. Bear Valley, N.A., Denver. Natl. City Bank, D enver.......................... Colorado Natl. Bk. Blvd., D e n v e r.......... IntraWest Bank, M o n tro s e .................... IntraWest Bank of S te rlin g .................... United Bk. of Greeley.............................. Century Bank, D enver............................ United Bk. of Grand Junction2 .............. Union Colony Bank, G reeley.................. Colorado Natl. Bk., L a ke w o o d .............. Aurora National Bk., A u ro ra .................. United Bk. of Skyline, N.A., Denver . . . . Farmers State Bk., Fort M organ............ First Bk. of Wheat Ridge, N.A................. 1 Formerly First National, Golden. 2 Formerly Mesa United Bank, Grand Junction. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The United Bank of Denver has announced that Beverly J. Haddon, William S. Hershberger, Oliver W. Hickel III and Lawrence J. Ricketts have been elected executive vice presidents. In addition, William J. Rundorff was named senior vice president. Ms. Haddon heads consumer banking, and has been with the bank since 1963. Mr. Hershberger is man ager of asset management services. He joined the bank in 1980. Mr. Hickel manages the funds manage ment division and is chairman of the investment committee. He joined the bank in 1976. Mr. Ricketts, head of investment banking, joined the bank in 1978. Mr. Rundorff, who oversees United Bank’s legal and compliance department, is corporate secretary for both United Bank of Denver and United Banks of Colo rado. He joined the Denver bank in 1983. United Banks, ACORN Agree on Acquisition Terms United Banks of Colorado, Inc. has announced that the Colorado Association of Community Organi zation for Reform Now (ACORN) has withdrawn its protest of United’s application to acquire IntraWest Financial Corporation. United Bank of Denver has been working with ACORN for the past 18 months to establish mutual goals for programs and services that will benefit low- to moderate-income in dividuals in Denver, and an agree ment was signed by both parties on January 22. According to the agreement, which covers the period from 1987 through 1989, United Bank of Den ver will provide basic banking ser vices for low- to moderate-income in dividuals. The services will include checking and savings accounts. In additional, United will make home improvement loans and assist notfor-profit developers. The bank also announced that the Federal Reserve Board has re quested additional information as part of its review process on United’s acquisition application. Pres. Elected in Denver United Banks of Colorado, Inc. has announced the election of Mich ael J. McGrath as president of 39 the bank in 1985 and was previously tive in banking in Mancos and Idaho a commercial loan officer with Gua- Springs, Colo,, since 1976. ranty Bank in Denver. Colorado News United Bank of Academy Place, Denver. Mr. McGrath joined United Bank of Arapahoe in 1982, and while there supervised executive lending, com mercial lending and personal loan production areas. United Banks Promotes Four United Banks of Colorado, Inc. has announced that Alvin W. Hag gerty, Roger E. Johnson, Charles H. Powers and Candice W. Rogers have been elected senior vice presidents. Mr. Haggerty, who heads human resources, joined United Bank of Denver in 1959. Manager of real estate services, Mr. Johnson joined United Banks Service Company in 1972 and moved to United Bank of Denver in 1980. Mr. Powers over sees asset quality, and joined United Bank of Denver in 1972. Ms. Rogers joined the bank in 1973 and is head of marketing services. Elected in Aurora John Carter has been elected an assistant vice president of Colorado National Bank—Aurora. He joined SOUTH DAKOTA NEWS. . . (Continued from page 31) loan officer. Jeff Priebe was elected assistant vice president and agricul ture loan officer. Morgan Larson was elected assistant vice president and named branch manager of the Frontier Branch at Murdo and Mid land. Jack Lynass, Jr. recently join ing the bank as assistant vice presi dent and branch manager of the Miners and Merchants Branch at Lead. Candy Sowers was elected assis tant cashier and consumer loan offi cer. She is responsible for install ment and real estate lending. She is also security officer for the bank and its branches. Mark Schuler has been re-elected staff attorney and has the added responsibility of loan review officer and real estate loan officer. Teller Seminars to Be Held The South Dakota Bankers Asso ciation is offering its Teller/Staff Seminars at two locations in April. The first is April 4 at Howard John son’s Motor Lodge in Rapid City, and the second is on April 11 at the Ramada Inn in Sioux Falls. This year’s agenda features a combination of programs dealing https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Named in Denver Patricia M. Cavalière has been elected chairman and chief executive Michael A. Wilson has been officer of United Bank of Monaco. elected an assistant vice president of She was named president of the Colorado National Bank—Grand bank less than a year ago and has Junction. He has been involved in more than 25 years banking experi Western Slope banking for 26 years, ence. serving most recently as executive Joining United Banks in 1967, vice president of Gunnison Bank she has held a number of positions and Trust Company. with increasing responsibility . Elected in Grand Junction NBC Names Denver Rep Awarded in Englewood NBC Computer Services Corpora tion has announced that Jack Julian will be heading its m a rk etin g effo rt in th e Denver region. NBC/CSC is a w h o lly -o w n ed s u b sid ia ry of National Bank of Commerce in Lincoln, N eb raska. Mr. Ju lian has been ac- First Interstate Bank of Engle wood has named the “Professional Banker of 1986” and “Teller of the Year 1986.” Jane Larson, who works in the bank’s loan administration depart ment, has been awarded professional banker of 1986. She has been with First Interstate of Englewood for over five years. Jan Niccoli has been named teller of the year. She has been named “Teller of the Month” two times previously. with communications, loss preven On March 24 the seminar will be tion and banking procedures. Semi held at the Hilton Inn in Rapid City, nar leader is Mark Bennett, vice and on March 26 it will take place at president at Financial Education the Holiday Inn City Centre in Development in Middleton, Wis. Sioux Falls. Registration is at 8:30 Registration is at 8:30 a.m. with the a.m. with sessions running until 4:30 seminar running from 9:00 a.m. to p.m. Pre-registration fee is $95 4:00 p.m. and on-site cost is $105. This fee in Registration is $60 per attendee cludes breakfast, lunch and ma and includes materials, lunch and re terials. To register, contact the freshments. Attendance at the semi SDBA. nar will earn credit for 0.5 Continu ing Education Unit. To register, con Two Named to First Bank Board tact the SDBA. Garry W. Jacobson and Jack President Elected in Leola Riordan have been elected to the Leola State Bank, Leola, has an board of directors of First Bank of nounced the election of Ralph South Dakota. Ramsey to president. He joined the Mr. Jacobson is president of Mal bank in 1985. Mr. Ramsey replaces loy Electric, Bearing & Supply Com T.J. Heibel, who was elected chair pany in Sioux Falls. Mr. Riordan is man of the board. Mr. Heibel has secretary-treasurer of Mount Rushbeen actively involved in the opera more Mountain Company, Inc. in tion of the bank since 1960. Keystone. SDBA Offers Tax Reform Seminar The South Dakota Bankers Asso ciation will sponsor a seminar on the Tax Reform Act of 1986 at two loca tions in late March. The seminar will discuss crucial changes applying to IRAs and SEPs. Promoted in Rapid City Rosemary Hogan has been pro moted to vice president of the Rushmore State Bank, Rapid City. She previously was operations officer and served as branch manager. Ms. Hogan’s new responsibility will be bank-wide operations. She has been with the bank since 1976. Northwestern Banker, March, 1987 40 L e ft to r i g h t : L o r e n R . A n d e r s o n , E x e c u tiv e V ice P r e s i d e n t, A d m i n is tr a t iv e S e rv ic e s; R o y M. O tte , V ice P r e s i d e n t, B a n k I n v e s tm e n ts D iv isio n ; M ik e J a c o b s o n , V ice P r e s i d e n t, C o r r e s p o n d e n t L o a n D iv isio n ; D e n n is H . S te lz e r, P r e s i d e n t, N B C /C o m p u te r S e rv ic e s D iv isio n ; T h o m a s E. H e n n i n g , P r e s i d e n t, NBC. Our people set us apart from other correspondent banks. At NBC, you’ll find more than just a full range of corre spondent banking services. You’ll also discover a staff of ex perienced, capable, dedicated professionals who are anxious to serve you. Who are proven perform ers, with a strong his tory of helping banks meet their correspondent needs. Who to gether make NBC a leader in, and your best choice for, corre spondent banking services. Call NBC today! And put us to work for you! N B C National Bank of Commerce NBC C enter, 13th. & O S tr e e t, L in coln , N eb ra sk a 6 8 5 0 8 ( 4 0 2 )4 7 2 -4 1 1 5 M EM BER F .D .I.C . .¿WlN V bank7« Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 41 Two Advance in Hebron # Stephen L. Wilke has been pro moted to vice president, and S.F. Redman to assistant vice president of Thayer County Bank, Hebron. Both officers were with the bank for two years before being employed with the U.S. Government. Mr. Wilke was Thayer County A.S.C.S. supervisor, and Mr. Redman was a military commissioned officer . 1984. Appointed an installment loan Mr. Wilke will have responsibili Bank of Bellevue officer is Dixie Hendricks. She ties in agricultural, commercial and Announces Changes joined the bank in 1981 and has consumer lending, while Mr. Red Jack D. Steinbeck has joined the worked as a new accounts represen man will have duties in commercial Bank of Bellevue, Bellevue, as vice tative and student loan administra and consumer lending, bank operator. tions and collections. p re sid e n t and cashier. He pre viously served Largest Banks in Nebraska as vice president and cashier of EPOSITS and loan figures for the top banks in Nebraska with $50 the Metro North m illion deposits or more are shown in the accompanying chart as State Bank in they were reported at year-end. Comparative figures for a year ago also K a n sa s C ity , are featured. Mo. (Last three figures omitted) The Bank of December 31, 1986 December 31, 1986 B ellev u e has J.D. STEINBECK Deposits Loans Deposits Loans nam ed L in d a 1. Norwest Bank Nebraska, N.A. . $799,674 $1,145,307 $1,192,698 $809,887 Balash and Barbara Plott vice presi 2. FirsTier Bank, N.A., Omaha1 . . . 994,429 646,243 938,110 685,530 dents. Ms. Balash joined the bank in 3. FirsTier Bank, N.A., Lincoln2. .. 895,389 558,590 742,782 468,603 1970 and is director of personnel and 4. First Natl. Bank, O m a h a .......... 692,043 518,330 639,413 461,168 384,756 191,375 372,061 193,316 marketing. Ms. Plott has been with 5. Natl. Bk. of Comm., Lincoln . . . Scottsbluff Natl. B & T .............. 191,499 75,468 112,128 65,589 the bank since 1976. Her responsi 6. 7. First Natl. B&T, Columbus 84,197 186,923 176,514 92,081 bilities include supervising tellers 8. DeLay First Natl. B&T, Norfolk . 159,033 72,148 148,896 70,934 and customer service representatives 9. Union B&T, L in c o ln .................. 140,324 71,717 116,728 65,835 and serving as administrator of the 10. Douglas County B&T, Om aha.. 130,385 100,098 116,081 90,182 11. Vistar Bank, Lincoln3 ................ 122,677 66,095 115,670 76,613 Bank’s senior citizen program. D L. BALASH K. HOSIER # B. PLOTT D. HENDRICKS Karen Hosier has been named assistant vice president and trust of ficer. She joined Bank of Bellevue in https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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. First Natl., H o ld re g e ................ First Westside Bank, Omaha .. Adams B&T, Ogallala .............. Southwest B&T, O m a h a .......... First Natl., Y o r k ........................ Packers Natl., O m a h a .............. Fremont Natl. B & T .................... City Natl. B&T, H a s tin g s .......... First Natl. B&T, Fremont4 ........ McCook Natl. B a n k .................. First Natl. B&T, K earney.......... Platte Valley St. B&T, Kearney . Guardian State B&T, A llia n ce .. First Natl. B&T, North P la tte . . . First Natl., M c C o o k .................. York State B&T, Y o rk ................ First Natl., F a irb u ry.................. American Natl., O m aha............ Beatrice Natl. B&T, B e a tric e ... Overland Natl., Grand Island .. First Natl. B&T, B e a trice.......... Jones Natl. B&T, Seward ........ Washington County Bk., Blair . Minden Exchange B&T, Minden Northern Bank, Omaha5 .......... American Natl. Bk. of Sidney .. Geneva State Bank, Geneva . . . Havelock Bank, Lincoln .......... First Natl. B&T, Falls C it y ........ 113,826 110,012 108,846 108,597 107,994 99,033 96,197 94,232 68,948 80,514 75,441 54,638 64,895 42,879 47,894 43,510 86,966 85,382 84,047 84,035 81,476 76,997 75,186 73,608 65,985 65,406 64,267 62,571 62,558 62,532 60,107 58,099 57,679 56,539 53,263 51,115 43,448 41,217 44,185 45,553 33,085 40,195 43,654 27,307 30,136 33,966 27,110 30,555 27,593 27,037 29,815 36,136 15,709 28,487 26,400 15,487 111,579 105,879 109,295 96,011 105,141 92,144 89,514 90,120 87,109 82,156 87,486 78,735 86,959 80,433 83,923 57,176 73,906 59,833 62,125 59,044 58,292 67,503 63,271 57,920 56,999 53,039 54,537 52,050 50,157 71,007 68,387 77,402 47,870 64,842 44,406 44,919 49,977 51,280 45,031 54,289 48,862 65,232 37,201 48,181 36,150 29,313 24,379 36,094 28,588 30,373 27,593 29,810 29,302 37,500 18,817 32,874 24,447 18,290 ’ Formerly Omaha National Bank, fo rm e rly First National Bank, Lincoln. 3The banks of Gateway Bank & Trust, Citizens State Bank, and Lincoln Bank East merged Oct. 1, 1986 into Vistar Bank, Lincoln. 4Did not wish to publish this year’s figures. “Formerly North Side Bank, Omaha. 42 mortgage loan department; James • Schmidt, manager of the systems development department; Timothy Smith, correspondent banking, and David Wells, contingency planning manager. • * * * Douglas County Bank & Trust Co. has advanced Patrick M. Coyle to vice president. He will continue to serve as trust officer. Scott Bradley, formerly assistant vice president, was promoted to vice president, commercial loan department. * * * # 0 Omaha State Bank has promoted James O. McBride, cashier, to assis tant vice president as well. Cathy Woods was advanced to assistant Omaha 0 First National Bank of Omaha tutions division. Mark McMillan operations officer. has announced a number of promo was promoted to international offi cer in that division. tions and ap Changes Told in Hastings pointm ents. Doug Oakeson, president, and • They include: John Irwin Max Callen, executive vice president has been pro and senior loan officer, of the City moted to second National Bank, Hastings, have sub vice president. mitted their resignations to the He is manager of board. The two City National execu- ® data processing tives will join a Lincoln-based in operations. vestment firm, SMITH-HAYES, Thomas Jensen which will be establishing an office was also a d S. HOWLAND-MOLINE in Hastings. C. NAKAMOTO G. TOMKA vanced to that position, in the cor Mr. Oakeson joined the bank in “ respondent banking department. 1981 and was named president in Promoted to second v.p. in the 1983. He was associated with Na BankCard merchant processing divi tional Bank of Commerce in Lincoln sion was Craig Nakamoto. Ad prior to joining City National. _ vanced to that position in correspon Mr. Callen was also associated ^ dent banking was Gerry Tomka. with the National Bank of Com merce, where he was vice president and manager of the correspondent bank division before joining City ^ National in 1984. J. DEROIN T. GAUGHEN In addition, Gaylin Prior has been appointed city National’s assistant vice president in ag lending. Three Promoted in Osceola J. IRWIN T. JENSEN Promoted to trust officer were Jan DeRoin, Thomas Gaughen and David Greer. Ms. DeRoin is in per sonnel trust and estate administra tion, Mr. Gaughen is in trust admin istration and business development, and Mr. Greer is in the employee benefit administration division. Promoted to auditor was Walter John Bemman. Stephanie HowlandMoline was advanced to loan officer in the corporate and financial insti Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ronald Christensen and Royce Schaeffer have been promoted from vice presidents to senior vice presidents of The First National Bank of Osceola. D. GREER W.J. BEMMAN J a n e t N e u ja h r, p re v io u sly Nine people were promoted to cashier, has been promoted to vice operations officers. They are Frank president and cashier of the bank. Kelly, BankCard security; LaVerne Land, BankCard division; Marian Wascher, purchasing and voice com Promoted in Gordon John L. Way has been promoted munications; Kenneth Kucera, first integrated systems department; to vice president of Gordon State Mark O’Brien, manager of electronic Bank. He most recently served as banking services; Kevin Odenreider, assistant vice president. f • £ 43 Here’s One Line That Says More About Us Than Anything. When it comes to gauging success, one of the key indicators is total assets. First National Bank of Omaha* has one of the best records of any financial institution in Omaha. We’re proud of our solid growth. And proud to serve you — and assure you — with our strength, financial expertise and experience. Few institutions offer you what we can in performance and stability. Wouldn’t you rather trust your money to the people who consistently prove they know how to manage it? In 1986 we achieved $1,118,046,000.00 in total assets. That’s why we’re proud of our name. * F irst National o f N e b r., Inc. No Wonder They Call Us First. © firs! national bank of omaha M em ber FD IC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, March, 1987 44 Commercial Lending School Set for April 5-10 First Commerce Bancshares, Inc. of Lincoln reported net income for the 1986 of $5.2 million or $1.71 per share. “When comparing the 1986 earnings to 1985, the earnings are down slightly,” explained James Stuart, Jr., president and CEO. “The 1985 earnings included a spe cial $7.8 million gain from the termi nation of its pension plan. Approxi mately $5.8 million of this gain was used to build reserves in 1985, and $2 million was included in 1985 earn ings. Without the $2 million pension Abbott Group Restructures During board meetings of the 10 western Nebraska banks in the Ab bott Bank Group, James E. Abbott, newly-elected chairman and majori ty stockholder of the banks and their holding companies, outlined the changes which have occurred during a restructuring of the bank ing group recently. Within the last several months, the Abbott Bank Group created three new divisions: the credit and investment division; the special ser vices division, and the operations division. The credit and investment divi sion is headed by Michael K. Darveau, executive vice president. This division, which includes four profes sional bankers, will assist in estab lishing and maintaining the credit policies and procedures which will be used throughout the Abbott banks on a consistent basis. It will also be the responsibility of this division to manage the investment portfolios of the 10 Abbott banks. Randy A. Gould, executive vice president, will serve as the portfolio manager. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • The Schools of Banking, Inc. will hold its first-ever Professional De velopment Program Commercial £ Lending School April 5-10 at the Holiday Inn in Kearney. This course is sponsored by the Kansas and Neb raska Bankers Association. In addition to a new curriculum, £ students will participate in over 42 hours of classroom instruction in cluding case study work sessions and a special regulatory panel dis cussion session. # George Ruth, vice president of commercial lending at Signal Bank, Inc., in West St. Paul, Minn., is lead faculty member for the school. Homer Pierce, president and CEO of # the Seven Valleys State Bank in Callaway, is school director. For more information, contact Jone Beer or Pam Bartak at the Schools of Banking, Inc. at (402) • 474-3313. gain included in 1985 earnings, 1986 earnings were up considerably over 1985.” “The banking environment in Nebraska remains difficult,” stated Mr. Stuart. “However, First Com merce continues to generate reason able levels of earnings. The company also has a strong capital position of $69.9 million, 7.6% of year-end assets of $918.8 million. The loan loss reserve position is also strong with $10.3 million at year end, Sidney National Sold, 2.76% of total loans.” Merged with Harrison Controlling interest in the Sidney National Bank in Sidney was trans The special services division is ferred January 30 by Robert C. Conheaded by Lane R. Nansel, executive rad, chairman and president, to Mr. vice president, and is responsible for and Mrs. Charles R. Leffler, Sr., and assisting borrowers who have been Mr. and Mrs. Charles R. Leffler, Jr., especially vulnerable to adverse eco sole owners of Sioux National Co., nomic conditions to devise and im the holding company that owns plement plans to ensure their eco Sioux National Bank of Harrison. nomic survival. The two banks have been merged Janice Durflinger, formerly with under the new name of Security Na FirsTier Bank in Lincoln, has been tional Bank, with headquarters in chosen to head the operations divi Sidney and the Sioux National office sion and undertake the job of stream continuing as a branch. The new lining and standardizing the operat bank has approximately $50 million ing procedures of the Abbott banks. in assets. Charles Leffler, Sr., has been Mr. Abbott said, “All of these changes have required the addition elected chairman and president of of support staff, as well as the reas Security National Bank; Charles signment of the duties of some of the Leffler, Jr., and Mr. Conrad have long-term employees of the banking been elected vice chairmen, and group. But after several months of Wayne Hoskinson, president of the restructuring, the basic assignment former Sioux National Bank, conand reassignment of positions has tinues as president of that branch. been completed for the 160 officers Mr. Conrad will continue in an ac and employees of the A bbott tive role with the bank. Mr. Leffler, Jr., has moved to Sidney from Hol banks.” The support staff and heads of the brook, where he retains his title as three new divisions will be head president of Security State Bank, quartered at The Guardian State which is owned separately by the Bank and Trust Co., even though Leffler family. Reg Warner has been they will be working for the entire advanced to executive vice presiAbbott Bank Group, in addition to dent and chief operating officer at Holbrook. the Alliance bank. • # • • ® • ® 9 45 Kreycik from assistant vice presi NBA Ag Outlook Conference dent to vice president. New officers elected at the bank Meets March 18-19 have been Patricia Brudigan as as 11:30 Secondary Market Update— sistant cashier, and Marilyn JackUBJECTS to be addressed at Kelley Holthus, NBA pres., man as internal auditor. the Nebraska Bankers Associa pres. & CEO, First National tion’s Agricultural Outlook Confer Three Promoted in Bank of York. ence include what lies ahead for P.M. American/global agriculture, ag South Sioux City lending, futures/options markets, 12:00 Luncheon. Dakota County State Bank, 1:00 “Agricultural Lending An and the grain and livestock future. South Sioux City, has promoted alysis in the 21st Century”— The conference will be held March Judy Kendall, Colleen Larson and Dr. David M. Kohl, prof, of 18-19 at the Kearney Holiday Inn. Joyce Renner from personal bankers agriculture finance, Virginia Advance registration is $115, or to assistant vice presidents. All Polytechnic In stitu te & $135 after March 13. The fee in three have been with the bank since S ta te U n iv e rs ity , cludes all materials, continental 1979. Blacksburg, Va. breakfast, lunch, and the evening re 4:00 Adjournment. ception and dinner. Spouses or 6:00 Reception. Talk To The Municipal guests may attend the reception and 6:45 D in n e r/G u e st S peaker: dinner for $25. Bond Professionals “Stress & Burnout: Don’t The program follows: Make an Ash of Yourself”— Wednesday, March 18 Dr. Burt Bertram, Maitland A.M. (Orlando), Fla. 8:30 R eg istratio n /C o n tin en tal Breakfast. Thursday, March 19 9:00 “Agriculture: Is There a Fu tu re ? ” —Carol B rookins, A.M. William March Robert E. Rob 8:30 Continental Breakfast. pres. & CEO, World Per President Exec. Vice President 9:00 “Ag Situation and Likely spectives, Inc., Washington, Trends,’’ “A Conservative D.C. Approach to Market Plan 10:15 “Where In The World Are ning,’’—Dr. James G. Ken We?’’—Neal Harlan, pres. & drick, prof., agricultural eco CEO, Scoular Grain Com nomic-m arketing, U. of pany, Omaha, Neb. Neb.-Lincoln. 11:00 Livestock Outlook—Gary Patrick H. Rensch C.W. (Chuck) Poore, Jr. P.M. Duncan, pres., H asting Sr. Vice President Sr. Vice President 12:00 Adjourn. □ Pork. Nebraska News S Changes Told in Kearney elected to the bank’s board. He was Wayne R. McKinney has an named KSC president in 1982. nounced he will step down as chief executive officer of Platte Valley Promoted in Falls City State Bank and Trust Company, Kevin L. Malone has been pro Kearney, but will remain as chair moted to assistant vice president man, trust officer and director on a with responsibility for all bank full-time basis at the bank. He has operations at First National Bank been with the bank for 36 years, and Trust Company, Falls City. becoming CEO in 1972. Don Kear In addition, Judy A. Ivey has ney, who last fall was named presi been promoted to operations officer dent, will become CEO. and will manage the bank’s book Keith Stafford has been named to keeping department. head the bank’s farm loan depart ment, a position held the past 18 years by Keith A. King, who is relin Joins Columbus Bank Lyle Asche has joined the staff of quishing the duties for health rea sons. Mr. King will continue to work First National Bank and Trust Com full time in the agricultural depart pany of Columbus as a loan analyst. ment and also as a director and sec He joins the bank from Lindsay Credit International. retary to the board. George Beattie has been pro moted from farm loan officer to as Advanced in Ainsworth sistant vice president of the bank. Commercial National Bank, Ains Also, Kearney State College Pres ident William Nester has been worth, has promoted Michael D. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bill Abts, Jr. Wayne A. Rasmuss Vice President Secretary-Treasurer Micky Krupinsky John Trecek Representative Counsel For municipal bond OFFERINGS, BIDS and APPRAISALS, call on the professionals who specialize in tax-free bonds. Municipal Bond Underwriters, Inc. Investment Bankers • Underwriters 208 South 19th Street, Omaha, Nebraska 68102 (402) 341-1144 In Nebraska Call Toll Free (800) 642-4413 Northwestern Banker, March, 1987 46 Nebraska News seven years of banking and account ing experience. Trust Officer Dale Hittner has Lisa A. Hatt, who joined the bank been promoted to vice president— in 1985, has been promoted to opera trust department of Scottsbluff Na tions officer. She formerly was with tional Bank and Trust Company. He Omaha State Bank. In banking for served as trust officer for the past over eight years, she serves as loan 11 years and has a total of over 25 administration supervisor and assis years banking experience. tant operations supervisor. Sharon Koch has been named as Also, Debra J. Mayfield has been sistant trust officer for the bank. promoted to marketing officer. For She was formerly trust department merly with Nebraska State Bank, administrative assistant. She will she joined Brentwood in 1985 and continue to assist the bank’s two supervises the new accounts depart trust officers. ment and teller operations. She has over 16 years of banking experience. Promoted in Scottsbluff Changes Told in LaVista Robert J. Thilgen, president and chairman of the Brentwood Bank in LaVista, announced that 1986 was a banner year with deposits increas ing by 103 percent to $7,868,731. Assets also increased by 103 percent to $8,429,384, and loans increased 165 percent to $5,300,066. The bank began operations in February 1985 as a conversion from First Nebbraska Savings of Papillion. In addition, David G. Nutty has been promoted to vice president of the bank. Formerly with First Na tional Bank as an auditor, he joined the bank in 1986, and has over five years of banking and finance experi ence. He supervises the installment loan and collection divisions. L.A. HATT D.J. MAYFIELD Christine L. Ringsdorf has been promoted to assistant vice presi dent. Formerly with Omaha State Bank, she joined Brentwood in 1985 and serves as cashier and senior operations supervisor. She has Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis held several positions, most recently serving as an investment assistant. Elected in Schuyler Larry L. Bazata, executive vice president, and Charles P. Heavican, senior vice president, have been elected to the board of The Schuyler State Bank & Trust Company. Changes Told in Ewing Farmers State Bank, Ewing, has announced that Ralph Adams has been elected chairman of the bank’s board. Also, Ken Krahulik has joined the bank as vice president and cashier, replacing Willie Shrader, who has re Promoted in Bellevue First National of Bellevue has an tired after 17 years with the bank. Larry Adams has been elected to nounced seven promotions. the bank’s board. Bernie Pilachowski has been ad vanced to assistant vice presidentconsumer lending. He has been with Two Promoted in Bellevue First United Bank of Bellevue has the bank since 1983. Terry Zaback was promoted to as announced the promotion of two ac sistant vice president—commercial count executives to assistant loan lending. Mr. Zaback has been in officers. volved in consumer and commercial lending since joining the bank in 1985. Rodgers Biggerstaff has been named data processing manager. Mr. Biggerstaff assumes supervi sion of the Data Center. He has been with First National since 1985. Kathleen Bagley, assistant vice president, has been named personnel officer. Mrs. Bagley most recently C.L. MYERS L.A. BICKFORD served as assistant personnel officer Christine L. Myers, who has 10 and data processing manager. In her years prior banking experience, has new capacity she will direct person been promoted to assistant loan offi nel relations and staffing. Bill Grant, assistant vice presi cer. Lori A. Bickford, also named as dent—consumer lending has been assistant loan officer, has held posi named manager of First National’s tions in the banking and finance Olde Towne Bank. He has been with field for the past seven years. the bank since 1981. Alice Weimer has assumed duties Promoted in Kearney Terri Kitt has been promoted to as thrust officer, and will have her of fice at the Central Bank on Galvin customer service officer of the Kear Rd. Mrs. Weimer has been manager ney State Bank of the Olde Towne Bank since 1985. and Trust Com Peggy Pinault has been named pany. She joined the customer service supervisor. Ms. Pinault has extensive experience in bank in 1980 and customer service and has been with has served in the secretarial and the bank since 1986. new acco u n ts areas, most re Promoted in North Platte cently as execu DiAnn Petersen has been pro tive secretary. moted to assistant vice president of She began her the First National Bank and Trust banking career with the National Company, North Platte. Employed Bank of Commerce in Lincoln in with the bank since 1975, she has 1978. Nebraska News 47 New 1st National of Omaha President Says: “One of our primary goals is to remain an independent bank!” Bruce R. Lauritzen is the fourth generation of his family to serve as president of The First National Bank of Omaha. HEN Bruce R. Lauritzen was W elected president of the First National Bank of Omaha on Janu ary 5, 1987, he became the fourth generation of his family to hold that office. Earlier, when he was elected to the bank’s board of directors in January, 1968, he was the fifth gen eration to serve on the board. Tradition and stability have been hallmarks of First National Bank ever since it was chartered in 1863 when the National Banking Act was enacted by Congress. In addition to being one of the first banks in the nation chartered under that new Na tional Banking Act in mid-Civil War days, the First National also has the distinction of being the oldest na tional bank from Omaha west. Bruce’s forefathers were among the early pioneers and founders of Omaha, including his great great grandfather, Bishop Clarkson, first Episcopal Bishop of Omaha. The Bishop Clarkson Memorial Hospital takes its name from that illustrious earlier citizen and Bruce Lauritzen is active in its support today. Stability in Transition Bruce Lauritzen, 43, is intimately familiar with the stability his bank has afforded the Omaha trade area and the tradition that has inter woven his family’s life with that of the First National. The success of that combination was evident when he stated as the announcement of his election was made, “Our philoso phy and mission will not change in any way as a result of this transi tion. First National has been run by the same management team for the past several years and during that https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A N orthw estern B an k er interview with BRUCE R. LAURITZEN President First National Bank of Omaha time has become a leader and inno vator in the regional financial com munity.’’ Bruce stressed this point further by adding, “ Unlike transitions we’ve seen in some other places in recent years, this is a very orderly one. It was smooth, planned and rep resents the stability we’ve reflected constantly to our customers and staff. Our executive group has been in place for some time and operates as a true team.’’ One of the other key players in that executive group, of course, is Bruce’s father, John R. Lauritzen, chairman of the board and a veteran of 44 years of service with First Na tional Bank. Although he lives in Florida, he is in daily contact with the bank and returns at least once a month for several days for executive committee and board meetings. Another executive group member is F. Phillips Giltner, 61, who held the position of president the past 17 years. Mr. Giltner now is vice chair man of the board and continues as president of the bank’s holding com pany, First National of Nebraska, Inc. The other two executive group members are Executive Vice Presi dents William Henry and Dennis O’Neal. Continued Growth Stressing again the management style and teamwork that has served First National so well for many decades, Bruce pointed out that “We’ve just finished our 15th con secutive year of profits and that was 15% ahead of last year. In fact, pro fits have been up an average of 15% for the past 10 years! We have a history of stability and growth. Given that scenario, which our pre sent management team has fa shioned, I would not intend to make very many changes. I feel we’re on the right track. Also, I feel what we’ll accomplish for 1987 has already been put in place, so we’re working now with staff people on 1988, ’89 and ’90.’’ This type of consistent forward planning has brought First National from approximately $160 million assets 20 years ago to $1.12 billion assets in First National of Nebras ka, Inc., whose earnings last year were $11,636,000. Bruce attended St. Paul’s School at Concord, N.H., then received his AB degree from Princeton and an MBA degree from the University of Virginia. Following that he began his bank ing career at Burt County State Bank in Tekamah, Nebr., in 1967, then joined First National Bank of Omaha later in 1967. During the in tervening 20 years he has served as a commercial loan officer, second vice president and vice president, then was elected executive vice president in 1981. As noted earlier, he was named to the bank’s board of directors in January, 1968. Northwestern Banker, March, 1987 48 Nebraska News Executive Development The five-member executive group is typical of the job longevity found throughout First National. Execu tive Vice President Dennis O’Neal joined the bank four years ago, while the other four members have been with the bank from 20 to 44 years. In line with the bank’s strong ef fort to promote from within the staff wherever possible, Bruce points to First National’s “corporate policy guideline that all managers must have someone to back them up; they must have one or two candidates to groom as successor management. This is expensive to do and we spend a lot of time training and paying for such backup, but we have always be lieved this is a people business and good people are our greatest asset. As I mentioned before, we always try to promote from within, but with our rapid growth in the past five years we can’t train managers fast enough. As a consequence, we’ve been adding 100 people to our staff each year for the past five years. Turnover is 18%.’’ Internal Board A unique aspect of First National Bank seldom, if ever, found in a ma jor regional bank is the fact that its 13-member board of directors is made up entirely of in-house officers of the bank. Of that number, seven started their career with First Na tional, attesting again to the job longevity experience in the bank. When asked why an in-house board has been such a tradition, as op posed to the typical board embrac ing mostly outside directors and a few senior bank officers, Bruce re plied, “On the whole, we think it’s very positive. Obviously, th a t’s why we’ve continued with this policy. It has three strong points: “ 1. The confidentiality that comes from not having outside di rectors involved. “2. All directors are bankers and are able to offer concrete sugges tions with that knowledge. “3. Board meetings can be called at a minute’s notice, giving us flexi bility and the ability to respond to an emergency. “The disadvantage, of course, is not having deposits brought in by outside directors. “At board meetings, we encour age free interaction and expression of opinion. Our executives know they can offer suggestions and be Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis opposed when their convictions tell Savings Company has about $60 them so.” million in assets, five Omaha offices and writes second mortgages. Bruce Other Banking Interests The Lauritzen family interests in Lauritzen commented, “We see an ownership of smaller community environment of tremendous growth banks in Nebraska and Iowa ex with the new tax law and its interest tends back more than 40 years when deductibility on mortgages.” John Lauritzen made a few such ac Credit Card Financing quisitions on his own. Later, First In addition to the above, FNNI National of Nebraska, Inc., was has three subsidiaries that handle formed in late 1968 to construct the financing of First National’s exFirst National’s new building at tensive credit card business: First 16th and Dodge Streets, where it now stands. The holding company is National Credit Corp., MCV Accep publicly held, with the Lauritzen tance Corp., and Credit Card Finan family holding a little over 50% of cial Corp. This system effectively the stock and heirs of the Davis provides securitization of the bank’s family (Bruce’s forebearers on his heavy credit card receivables. Bruce explains, “We started this almost 10 mother’s side), holding 14%. years ago. Our credit cards have Bruce Lauritzen is treasurer of been growing at a much more rapid First National Nebraska, which is pace than our deposits, so we looked listed as an interstate multi-bank for another way to handle this busi ness. This led us to forming these three credit card financing subsidi aries. Since our name and the names of the subsidiaries were not well known enough to sell in the New York market, we sought guaranties for our line from insurance compa nies, with backup from major banks in the United States and abroad; for example, the Bank of Tokyo, Aus tralia-New Zealand Bank (ANZ), and the National Westminster Bank, through their New York subsidiaries. In the insurance area we deal primarily with the Aetna Life of Hartford. “We sell receivables from First National to our own finance companies and then we finance the pur “WE believe our type of independent bank chase of those receivables by issuing can compete with any financial institution!” commercial paper in the local mar ket and in New York. Those New York and foreign banks back up that holding company with bank subsi paper by agreeing to lend funds by diaries in Nebraska and South Da way of long-term loans to the fi kota. First National Bank of nance companies to pay off the com Omaha, of course, is the largest of mercial paper, which protects the these subsidiaries. The holding com buyers of that paper.” pany also has a branch in David First National Bank of Omaha City, Nebr., where it took over a was an early entrant in the credit failed bank two years ago, and the card field many years ago. “We’re $20 million asset First Security dedicated to the delivery of plasticBank & Trust Company in Beatrice, based products,” Bruce commented, Nebr. The $43 million asset Valley “both debit and credit. We have State Bank in Yankton, S.D., was cards in every state and provide acquired in 1983 to take advantage credit card data processing for mer of South Dakota’s liberal credit card chants in 47 states. In addition to statute. Other subsidiaries include this widespread credit card base, we First National Leasing, Inc., for do discount brokerage in 23 states.” direct leasing; Banclease, Inc., for Family Banks participating leases with correspon Apart from First National of Neb dent banks; First of Omaha Savings Bank, and First of Omaha Service raska, Inc., Bruce is president of Corporation. The First of Omaha three separate multi-bank holding £ £ ^ ® £ £ £ 0 0 0 0 • • ® 0 Nebraska News companies—Lauritzen Corporation, with subsidiaries in Nebraska and Iowa, and the Viking Corporation and K.B.J. Enterprises, Inc., both of which are involved in ownership of Iowa banks. The Lauritzen Corpora tion owns Harlan County Bank in Alma; Washington County Bank in Blair; Farmers & Merchants State Bank in Bloomfield, with an office in Niobrara, and Burt County State Bank in Tekamah, all in Nebraska, as well as Emerson State Bank in Emerson and Farmers Savings Bank in Shelby, both in Iowa. Those banks have approximately $200 mil lion in assets. Viking and K.B.J. own control ling interest in Landmands National Bank and Landmands Insurance Agency, Inc., in Audubon; Crawford County Trust & Savings Bank in Denison, and Sibley State Bank and Sibley Insurance Agency, Inc., of Sibley, all in Iowa. Those three banks have approximately $100 mil lion in assets. Bishop Clarkson, first Episcopal Bishop of Nebraska. He is a director of the Omaha Development Council and Foundation; honorary trustee and finance committee member of the Joslyn Art Museum; trustee of Bellevue College Foundation, and regional representative for St. Paul’s School. He is also treasurer of the Young Presidents Club, Neb raska Chapter, and has served on the executive council of the Neb raska Bankers Association and sev eral of its key committees. Bruce and his wife Kim have two daughters, Margaret (Meg) and Blair, and one son, Clarkson. Mission Statement Several times during this inter view, Bruce Lauritzen referred to the company’s “ Mission State ment.’’ He keeps a ready copy in his top desk drawer and it reads: “First National of Nebraska is committed to being a growth-oriented, broadbased, independent, multi-product financial institution capable of de livering a broad range of profitable services to the consumer and institu tional markets.’’ That statement lists its Key Objectives as: “ 1. To excel in the U.S. consumer market through the use of plastic based pro ducts. 2. To excel in data processing capability. 3. To promote manager ial excellence and opportunity.’’ The statement concludes by listing its Geographical Service Area thus: “The geographical service area shall be any place in the United States where the product defines a feasible market.’’ What about the new competition from money center and non-bank fi nancial institutions? Bruce re sponded readily and emphatically: “One of our primary goals is to re main an independent bank. We be lieve our type of independent bank can compete with any financial insti tution!’’ □ Banking Roots Go Deep Obviously, Bruce Lauritzen’s roots are deep in Nebraska banking, especially as the fifth generation serving First National Bank of Omaha. An interesting facet is that on another side of his family, his great grandfather George Flannery became deeply involved in the bank ing business in St. Paul, Minn. Mr. Flannery was an attorney for the legendary railroad magnate, James L. Hill, who was founder and presi dent for many years of the Great Northern Railroad. When Dakota Territory was being split into two states in 1889, Mr. Hill wanted the capital to be located where the rail road was running. He assigned that project to Mr. Flannery, who helped convince the state legislature, and Mr. Hill subsequently helped found the capital city of Bismarck. Later, Mr. Hill formed a trust company for his own business, with George Flan nery as president. It became a part of First National Bank of St. Paul Two Named in Springfield by merger. Mr. Flannery served as Patricia Braunesreither has been president of that trust unit from appointed as operations supervisor, 1915 to 1923. and Jeanette Startzer has been named customer service manager/ Outside Interests The Lauritzen and Davis families loan supervisor of Springfield State have a long tradition of service to Bank. public and private enterprises. For Ms. Braunesreither has been Bruce, this means serving as a trus with the bank for over seven years tee, director and secretary of Bishop serving in a variety of positions. In Clarkson Memorial Hospital, named her new position, she will be in after his great great grandfather, charge of the bookkeeping and https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 49 operations departments. Mrs. Startzer has been a staff member of the bank for over seven years, working in a number of areas. She will be in charge of all lobby ser vices and personnel and the general operations of the computer loan sup port. Sixten J. Larsen Joins Austin Consulting Firm Sixten J. Larsen has joined Doug las Austin & Associates, Inc. as vice president and manager of the firm’s Chicago office. Douglas Austin & Associates, Inc. is a nationally recognized finan cial institutions consulting firm spe cializing in mergers and acquisi tions, investment banking, strategic planning, marketing, and financial planning for community banks. Sig Larsen will supervise sales efforts in northern Illinois, Wisconsin, Iowa, Missouri, and Kansas. He will also manage the firm’s Chicago sales of fice, 5105 Toll view Road, Rolling Meadows. A graduate of Eastern Michigan University (BA ’68-business/marketing) and Indiana Northern Uni versity (MBA ’72), Mr. Larsen brings nearly 20 years of profes sional banking experience to the firm. He served as vice president and sales manager for the Toledo Trust Company and vice president, director of marketing for Sylvania Savings Bank prior to its acquisi tion by Toledo Trust. Mr. Larsen also served in various capacities with National Bank of Detroit for sixteen years, including second vice president and director of market planning and research and assistant vice president and director of branch planning. Two Named Directors of First Wisconsin Trust The board of directors of First Wisconsin Trust Company has an nounced the election of Michael C. McDonough and Thomas F. Schra der as directors. Mr. McDonough is president and chief executive officer of Dataforms, Inc., New Berlin, Wis. Mr. Schrader serves as executive vice president of Wisconsin Gas Company, Milwaukee. Northwestern Banker, March, 1987 John Chrystal, President, Bankers Trust hen you get a loan request, your customer wants a prompt answer. So when you ask your correspondent bank about overlines, shouldn't you be able to expect the same quick response? At Bankers 'B*ust, our correspondent staff under stands your overline needs. Just as important, we understand the need to respond to them without delay. As a major independent bank, we can usually give you an answer right away. An honest, straightfor ward answer. So, talk with Bankers Trust, where your overline requests receive the attention y o u deserve. W Call us for a complete range of correspondent banking services. TRUST SERVICES COMMERCIAL Investment Management Individual/Corporate Services Loans Bank Acquisition Loans Overlines & Participations INTERNATIONAL BANKING Full line of International Services OPERATIONS INVESTMENTS Banking Systems Processing ATM & Debit Card Support Cash Letter Processing Remote Processing Support Bonds Fed Funds CDs Call 1-800-362-1688 or 515-245-2424 • Seven th and Locust • D es M o in es 50304 BankersTrust Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 51 P.M. Noon Lunch “Motivating the Team Dur ing Changing Times’’—Gary Maas, Management Consul tant, Massena. □ 1:00 Adjournment. R.S. Howard, chmn., Oskaloosa N. Milner, exec, v.p., Des Moines Davenport Bank Continues Record-Breaking Growth IBA Ag Credit Conference Scheduled for March 16-18 HE 1987 Iowa Bankers Associa T tion Ag Credit Conference will be held March 16-18 at the Scheman Center on the campus of Iowa State University in Ames. This year’s agenda will focus on the evolution taking place in agri culture and how it is forcing banks to alter their lending practices. The program follows: Monday, March 16 P.M. Noon Registration Desk Opens. 1:00 Exhibit Hall Opens. “ Is Chapter 12 Working”— Richard Stageman, Davis, Hockenberg, Wine, Brown, Koehn and Shors law firm, Des M oines, and Tom Flynn, Wimer, Hudson, Flynn and Neugent law firm, Des Moines. 3:00 Break/Exhibit Area. 3:30 “ Protect Yourself Against the Best Scams in Town”— Tam Ormiston, attorney, Iowa Attorney General’s Of fice, Des Moines. 4:00 Open for Legislative Up date. 5:00 Exhibit Hall Reception. 6:00 Dinner on Your Own. Tuesday, March 17 A.M. • • 7:30 Continental Breakfast. 8:15 Welcome/Introduction of Ag Committee Members. 8:15 “What Does the Market Hold for ’87”—Dr. John M arten , F arm Jo u rn a l Magazine. 10:15 Break/Exhibit Area. 10:45 “Bringing New Business to the B ank” —Dr. Michael Boehlje, Head of Ag Department, University of Minnesota, Minneapolis. 11:45 Lunch/Ag Finance S tu dents. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.M. 1:00 Concurrent Workshops. “Close Up of Credit Analy sis’’—Dr. Michael Boehlje. “Policing FmHA Guaran teed Loan Program Proce dures’’—Jo Ann Merfeld, as sistant vice president, Citi zens National Bank, Charles City. “How Tough is the Current Regulatory Environment”— Field Examiners from the FDIC, OCC and State Divi sion of Banking. “The Profits and Pitfalls of Alternative Crops’’—Speak ers to be announced. 2:30 Break/Exhibit Area. 3:00 Workshops Repeated. 4:30 A d jo u rn m en t/D in n er on Your Own. Wednesday, March 18 A.M. 7:30 Continental Breakfast. 8:00 “Negotiating for Business Success”—Art Pulis, Pulis & Associates, Wickenburg, Ariz. 10:00 Break/Exhibit Area. 10:30 “Transition in Rural Eco nomics”—Dr. Alan Tubbs, president, F irst Central State Bank, DeWitt. Davenport Bank and Trust Com pany continued its strong record of growth in 1986 w ith a n o th e r outstanding year as its re sources climbed past the $1.4 bil lion mark. Bank Chairman V.O. F ig g e an n o u n ced th e achievement at L.G. SCHERMER th e annual stockholders’ meeting. Resources at the end of 1986 were $1,417,122,000, compared with $1,117,163,000 in 1985. During 1986, Davenport Bank added $22,415,000 to its capital ac count, which now totals $122,683, 000. This compares with a total capi tal account of $100,268,000 in 1985. Net earnings for 1986 totaled $ 2 6 ,3 7 5 ,0 0 0 , co m p ared w ith $21,214,000 in 1985. In other business, Lloyd Schermer retired from the board of direc tors after 13 years of service. Mr. Schermer is chairman of the board and chief executive officer of Lee En terprises. Mr. Schermer explained that his expanded duties as an executive officer of the American Newspaper Publishers Association and as a director of the Newspaper Advertising Bureau are making greater demands on his time. 1987 Iowa Group Meetings Group Date 8 4 7 6 5 2 12 3 May May May May May May May May Location 4 5 6 7 18 19 20 21 Clinton Cedar Rapids Ames Des Moines Council Bluffs Fort Dodge Okoboji Clear Lake Northwestern Banker, March, 1987 52 Iowa News LEFT—At the Group 1 meeting in Sioux City, retiring Chmn. Bill Hess (left), president, Iowa Savings Bank, Coon Rapids, poses with new Gp. 1 Chmn. Jim Miller (center), chmn., Pioneer Bank, Sergeant Bluff, and new Secy. Russ Spearman, pres., Citizens Savings, Sac City. RIGHT— IBA Pres-Elect Clair J. Lensing, pres., Farmers State, Marion; IBA Pres.Russ Howard, chmn., Mahaska Inv. Co., Oskaloosa; Sen Robert Dole (R., Kan.), and Mr. Hess. Groups 1 and 11 Elect New Officers COMBINATION of unusually beautiful February weather, an absolutely outstanding program, and a show of optimism for slightly im proved business conditions brought attendance to nearly 500 bankers and spouses for the annual meeting in Sioux City last month of Group 1 of the Iowa Bankers Asso ciation. That figure was approxi mately a 25% improvement over the 1986 registration. Temperatures hovered at record levels February 6 and 7 as Group 1 bankers met at the Marina Inn in South Sioux City on the banks of the Missouri River, with the area and the river totally devoid of snow or ice. William Hess, president of Iowa Savings Bank, Coon Rapids, pre sided as chairman of Group 1. He was succeeded as chairman, effec tive next September during the IBA A By BEN HALLER, JR. Publisher and ROBERT CRONIN Associate Publisher convention, by Jim Miller, chairman of Pioneer Bank, Sergeant Bluff. Succeeding Mr. Miller as Group sec retary for the next two years is Rus sell Spearman, president of Citizens Savings Bank, Sac City. Later, on February 22 and 23, Group 11 bankers found similarly clear, unseasonal tem peratures, although attendance was reduced from last year because the meeting was held on a working day, a week after the government-dictated Presi dent’s Day in mid-February. So much for the traditional tribute to Abraham Lincoln and George Wash ington! At Group 11, Edward K. John stone, II, president of Keokuk Sav ings Bank & Trust Co., was suc ceeded as chairman by Daniel Doyle, president, Wellman Savings Bank. The new secretary is Dean Edwards, president, Rubio Savings Bank of Brighton. The usual Group 1 Friday night social hour and hors d’ouevres party was hosted by the Sioux City Bank ers Association. Four excellent outside guest speakers were heard Saturday morn ing and at the noon luncheon, in ad dition to interesting reports from William R. Bernau, Iowa superin tendent of banking; IBA President Russell S. Howard, chairman, Ma haska Investment Co., Oskaloosa, and IBA Executive Vice President Neil Milner. The Northwest Iowa NABW again hosted the Saturday morning breakfast for its monthly meeting. Beverly Jensen, vice president and cashier, First National Bank, Sioux City presided and introduced Mr. Milner as moderator of a panel on LEFT—Tom Olson, pres., Lisco State, Lisco, Nebr.; former S.D. Gov. Wm. Janklow; Beverly Jensen, v.p. & cash., 1st Natl., Sioux City, and Neil Milner, IBA exec. v.p. RIGHT—AI Maser, chmn., 1st Natl., Le Mars; Silas Keehn, pres., Federal Reserve Bank of Chicago, and Gene Hagen, pres., Security Natl., Sioux City. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis THE WAV WE PUT IT TOGETHER 15 WHAT 5E T5 U5 APART First Mattonai Bank • West Union, Iowa 4015 Alexandra Drive • Box 2097 Waterloo, Iowa 50704 Phone 319-234-6641 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 54 Iowa News LEFT— Dick Muir, v.p., United Missouri Bank, Kansas City, with Pat Stansbury, inv. off., Max Larson, pres. & ceo, and Roma Kroll, v.p., all with 1st Natl., Sioux City. RIGHT—Terry Martin, v.p., Merchants Natl., Cedar Rapids; Jan S!kola, pres., Farmers Savings, Kalona, and Cindy Skola, with Carol and Larry Arendt, pres., Gibson Savings. LEFT— Present at the Group 1 reception were, from left: B. Michael Broderick, pres., SDBA, Pierre, and pres., American State, Canton, with wife, Lois; C.L. Carlson, exec, v.p., Farmers State, Merrill, and Max Larson, pres. & c.e.o., First Natl., Sioux City. RIGHT—Also in atten dance were, from left: Tom Cannon, Swords Associates, Inc., Kansas City; Richard Waller, sr. v.p., Security Natl., Sioux City, and Ted Thompson, chmn., Security Natl. Corp., Sioux City. Interstate Banking, which was dis losers for loan decisions would be cussed before nearly 200 breakfast made outside the state.’’ guests. Panelists were Tom Olson, 2. Pro-competitive. “ I t ’s just not president, Lisco State Bank of Lis- true! This doesn’t encourage others co, Nebr., and president-elect of the to come in to organize new banks, Independent Bankers Association of but only to transfer ownership to America, and William Janklow, for new owners far away.’’ mer Governor of South Dakota. 3. Effect on capital inflow and out Mr. Olson said “IB A A generally is flow. “ If you’re looking for a capital characterized as against interstate infusion from outside, forget it.’’ banking, but our official position is 4. Effect on risk, safety and to support the right of individual soundness of the banking system. states to chart their own course— “ In the vast majority of cases, failed not to seek national legislation that Iowa banks have been taken over by would override individual state de other Iowa banks. Where is the in sires. Consequently, we opposed the centive in larger banks to run a bank national trigger because it overrides prudently if it’s known that the gov the individual s ta te s/’ ernment will bail them out...Bank Mr. Olson discussed four points ing can’t be static. Change is inevi claimed by interstate proponents: ta b le . As we c h an g e , l e t ’s 1. Economic growth and stability. strengthen, not weaken, our sys Some argue larger banks are needed tem.’’ Former Gov. Janklow said “The to make larger loans “but bankers learned long ago how to inter-loan whole area of interstate banking is a among banks and spread risk... question of area or a local decision. Small banks and businesses will be You don’t need a national set of laws Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis dictating this. I do not support na tional legislation. Dual banking has served us well. My point is — like it or not — things have changed. The consumer has changed and will change direction.’’ He pointed to the pro-competitive stance of General Motors, Prudential, Sears and others and said federal legislation “is always four to five years behind the creativity of American people and will never be able to close all the loopholes people find.” He closed by stating, “You can’t stop change, so you’d better get with it and equip yourselves with tools and laws to deal with th at.” Silas Keehn, president of the Fed eral Reserve Bank of Chicago, ad dressed the banker group after the NABW meeting was adjourned. Mr. Keehn gave a brief analysis of the economy, saying he anticipates “more of w hat’s happened the past four or five years, and 1987 will not be much different from 1986.” “He ^ ^ £ £ 0 55 The difference between our health plans and theirs is enough to makeyou sick. W ith most insurance plans, if you’re not sick before you get your final medical bill, you j will be after. But not with IBIS. Our many health care plans are as substantial as our premiums are minimal. Including coverage on prescription drugs and physical exams. Why, we even cover your mouth.With dental plans as contemporary and complete as any available. Health and dental insurance designed by Iowa bankers,only for Iowa bankers. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W hich is one more reason why we’re the choice of 483 out of 644 banks in Iowa. Like to know more? Call Millie Uding at 1-800-532'1423 toll free today. You’ll be sick if you don’t. Sto IowaBankersInsurance &Services,Inc. 400 Financial Services Building, 508 Tenth Street, Des Moines, Iowa 50308 Northwestern Banker, March, 1987 56 Iow a News LEFT— Don Carmody, pres., Hawkeye B&T, Mt. Pleasant; Beth Pothoven, a.c., Taintor Savings, and her husband, John Pothoven, pres., # Mahaska State, Oskaloosa, and Ben Eilders, sr. v.p., Bankers Trust, Des Moines. RIGHT—Jim Jensen, v.p., and Frank Gleeson, pres., both of Iowa Bankers Ins. & Services; Neil Milner, IBA exec, v.p., and Ron Meyer, v.p., of IBIS. LEFT—John Rigler, v.p., Norwest Bank Des Moines, and Ray Hartley, exec. v.p. & ceo, West Burlington Savings. RIGHT— Rich Horst, sr. v.p. & cash., Davenport; Tom Schulte, pres., Mediapolis Savings, and his wife, Lou, and Mike Bauer, 1st v.p., Davenport. expects an improvement in exports and trade balance. I hope we’re get ting closer to the corner for an up turn.” Mr. Keehn showed by his dis cussion that he keeps close tabs on agriculture’s role in the economy. Senator Robert Dole (R., Kan.) Se nate minority leader, was the first speaker after the noon lunch. He zeroed in on the deficit as a key inhi biting factor to the economy. One way Congress can help, he said, is to “give the President line item veto so he can delete and approve within bills,” noting that “43 governors have that opportunity.” Sen. Dole said he sees little or no change in the Tax Bill. “There will be trade legislation this year,” he stated flatly. He discussed the ag situation and added, “ I won’t pass judgment on the Harkin Bill, but I don’t think it has the votes.” William R. Bernau, Iowa superin tendent of banking, discussed two subjects—the legislative climate and interstate banking at both meetings. He said “Congress has intervened in a detrimental manner between borrowers and lenders,” citing dou- Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ble jeopardy, mandatory mediation and Chapter 12 as examples. He pre dicted only “golden loans” would now be approved by banks. “There will be more bank closings besides the two to date,” Mr. Ber nau said, “but the climate is improv ing. Banks are restructuring their loans and taking writeoffs,” cited departmental statistics supporting improvement. On interstate banking, Mr. Ber nau stated, “ I have studied the issue thoroughly and find no statistical evidence showing any advantage to our state. I believe ownership and management closest to the commu nity is best for the customer.” He noted that without the giants from other states, “we’ve developed an electronic system that continues to draw worldwide attention and visi tors.” IBA President Russ Howard com mented, “As a banker, I feel we must accept things we can’t change and work to change those things we can by shaping them to be how we think is best. We need a unified ap proach to our long-term objectives, a strategic plan for our industry. He called for unity to bring industrial development as a companion to the ag industry. Mr. Howard reviewed results of an IBA survey on interstate bank ing and those results have been sent to the CEOs of all IBA member banks. He said those results led the IBA board of directors to a position of neutrality. Clair J. Lensing, president-elect of the IBA and president, Farmers State Bank, Marion, delivered the president’s address at Group 11, since Mr. Howard was attending the Mid-Winter Conference. Mr. Milner called on all IBA members to be involved with the legisla tive process by meeting with their state and federal legislators when issues of importance to the industry are being aired. He reviewed specific bills, outlining IBA’s position, or de tails of newly-filed bills. Mr. Johnstone gave a clear pic ture of Group 11 voting in the recent IBA survey to determine a legislative position reflecting member wishes on interstate banking. He # # ® ^ ^ £ 57 HOME equity Loans Due to changes starting in 1987 on deductibility in consumer interest this could become a substantial source of loan volume and revenue for your bank. We have developed a micro-computer based software system to process open-end, variable rate loans and can provide valuable assistance in setting up your in-house program. Developed by bankers for bankers. For more details write o r c a ll either: The National Bank of Waterloo 315 East 5th Street Waterloo, IA 50703 319-291-5412 or Rec-Chek, Inc. RO. Box 239 Nevada, IA 50201 515-382-2186 T h e N ational Bank OF WATERLOO FDIC Insured up to $100,000 Subsidiary of Iowa National Bankshares Corp https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, March, 1987 58 Iow a News LEFT— Randy Steig, v.p. and Doug Stark, credit analyst, First Interstate, Des Moines, and Bruce Meriwether, pres., 1st Natl., Dubuque. RIGHT— Kim Jordahi, pres., First Interstate, Kalona; Joel Warland, corr. repr., Wayne Bismark, v.p., and Del Rogers, v.p., all three with LaSalle Natl., Chicago. LEFT— Bruce Meriwether, immed. past pres, of IBA and pres., 1st Natl., Dubuque; Neil Milner, IBA exec, v.p., Des Moines; Daniel Doyle, new chmn. of Gp. 11 and pres., Wellman Savings, and Dale Dooley, pres, of ITS, Des Moines. RIGHT— Retiring Gp. 11 Chmn. Ed Johnstone, pres., Keokuk Savings B&T, with Dr. Douglas Austin, pres., and Slxten “Sig” Larsen, v.p., both with Douglas Austin & Associates, Toledo, Ohio. said 42 of 53 Group 11 banks re turned ballots. Their votes were comparable to the state as a whole in voting which resulted in the IBA board voting 13-1 to take no posi tion due to the divided vote. Dr. Douglas Austin, president of Douglas Austin & Associates, Toledo, Ohio, took the Group 11 platform immediately following the brief business meeting. He gave a two and one-half hour seminar on Bank Directors, centering on three points: 1. Duties and Responsibili ties. 2. Planning for the board meet ing. 3. Conducting the board meet ing. Dr. Austin said directors have four basic responsibilities: To set policy. Supervision. To assure sol vency. Planning. Discussing strategic planning he said, “One phase, if you are in a river or border city, is to prepare alter nate plans to reflect how you would plan ahead with or without inter state banking. State boundaries are for political purposes. They don’t control trade areas.’’ https://fraser.stlouisfed.org Northwestern Banker, March, 1987 Federal Reserve Bank of St. Louis Also, he recommended directors be paid by the year and not by the meeting. The latter, he said, “is a historical tradition to get you to the meeting. I t ’s also used to set extra committee meetings to get extra pay...If you spend less than 15 hours per month as a director, you’re pro bably not doing an adequate job as a director.’’ □ 0 Two Elected in Fairfax Michael H. Jones has been elected 0 as vice president and cashier of Fair fax State Savings Bank. Previously cashier, he has been with the bank for 10 years. William E. Boland, Jr., who is en- 0 gaged in farming, has been elected to the bank’s board. He replaces Benton Jones, who retired after serving on the board since 1972. Named in Burlington Jeffrey Burgus has been elected assistant vice president at Farmers & Merchants Bank & Trust, Bur- ® lington. He formerly served as loan officer at the bank’s Oakville office. Joins Bennett Bank MEETING at “ Charlie’s Tap” were Ernie Hayes (left), dir., Henry Co. Savings, Mt. Pleasant; Charles “Charlie” Walsh (the pro prietor!), pres., Farmers & Merchants Bank, Burlington, and Larry Frowick, sr. v.p., Bankers Trust, Des Moines. • Wendell H. Rensink Jr. has joined Bennett State Bank as vice presi dent and assistant trust officer. He was formerly associated with the ^ Farmers Savings Bank of Boyden as president. 59 The new owners plan to form a one-bank holding company to take over the ownership of the Rock Rapids State Bank. Plans are to ex pand the ownership of the proposed holding company to include other of ficers and employees of the bank. Upon receipt of regulatory appro vals for change of control and for formation of a holding company, the new owners plan to make a substan tial investment of new capital in the equity accounts of the bank. The new owners plans to retain current directors, officers and em ployees. Rock Rapids State Bank was or ganized in January, 1932, and has served the Rock Rapids and Little Rock communities and Lyon County for 55 years. The total assets of the bank as of December 31, 1986 ex ceeded $30 million. Iowa News IBA Offers Seminar on Reformed IRA By DIANE NELSON Associate Editor N VIEW of drastic changes in the IIRAs tax law, many rules regarding and SEPs have been altered. In order to properly and effectively sell these products, full service bankers need to understand the new laws. To assist them, the IBA of fered “The Reformed IRA,” a semi nar featuring banking consultant Collin W. Fritz, at three locations in February. Mr. Fritz is the former superin tendent of banking for Iowa and pre sently heads Collin W. Fritz & Asso ciates, Ltd., a full-service consulting firm specializing in retirement ac count programs. He was assisted by Randy Heidmann, his associate, who has taught IRA seminars fre quently in the past. In his introduction Mr. Fritz com mented on the rapid and sweeping change occuring in the wake of the Tax Reform Act of 1986. Referring to the book distributed to attendees which describes new IRA rules, he said, “The booklet you have before you is two weeks old and we already have to make amendments.’’ Seminar attendees were in structed on eligibility considera tions, new regulations determining deductible and nondeductible IRA contributions, new spousal rules, and how to deal with direct transfers and rollovers. Simplified Employee Pensions (SEPs) were discussed. Re quirements for distribution and re porting were presented as well. The text provided to attendees included practice exercises and forms rele vant to the topics discussed. The seminar also included infor mation on how to best sell IRAs in Rock Rapids State Bank Bought By Local Group The Rock Rapids State Bank re mains locally owned following the purchase of 7,784 shares of the com mon stock of the bank, by a group of directors and officers of the bank, at a public auction held at the First Na tional Bank, Sioux City, January 21, 1987. The purchased shares are all but 216 of the total outstanding shares of the bank and represent 97.3% of the 8000 shares. The new owners group is com https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Collin W. Fritz addresses bankers seeking to familiarize themselves with the ramifica tions of the Tax Reform Act of 1986. view of new regulations, which do limit the appeal of these invest ments in many cases. Addressing the question of who benefits from the Tax Reform Act of 1986, Mr. Fritz said legislators de clare it treats everyone more fairly. He quipped that those benefitting most will be the poor, eskimos rais ing reindeer (since there is no tax on reindeer meat), and the lawyers, at torneys, CPAs and consultants, like himself, who will have to unravel the law. He said it will take a number of years to accomplish this task, and meanwhile bankers would do well to keep abreast of all the changes. “The Reformed IRA’’ seminar will be offered once again on March 17 at the Savery Hotel in Des Moines. The IBA encourages parti cipation by new accounts personnel, IRA administrators, trust depart ment personnel, business call offi cers and marketing officers. □ NABW State Conference Set Focusing on “Tomorrow’s Finan cial World: A High Risk Venture,” the Iowa state conference of Na tional Association of Bank Women, Inc., will be held May 11-13 at the Marriott Hotel, Des Moines. The conference is being planned by the South Central Iowa group. Scheduled is a banquet address on May 12 by Rita Davenport, author of Making Time - Making Money, Phoenix, Ariz. A general session on “When you talk to yourself, listen carefully,” will feature Charlene Bell, educator and licensed psycho logist from Des Moines. Other speakers include: Gary Maas, AgriCareers; Marva McCarty, Iowa Bankers Association, and Robert G. Millen, president and CEO, First In terstate Bank of Des Moines. A gen eral session panel discussion on “What it takes to get you where you want to go” will feature four Iowa women, each successful in their own prised of George Schneidermann, careers. Heading the NABW Conference president; Robert L. Witt, senior are Chairman Susan L. Sodey, vice vice president and cashier; John president, Union Bank & Trust Hulshof, vice president and man ager of the Little Rock office, and Company, Ottumwa, and Vice directors Edward Ladd of Rock Chairman Janet Dickey, assistant Rapids and Russell Peters of Little cashier, Iowa State Bank & Trust, Fairfield. Rock. Completion of this sale is subject to approval of change of control by Elected in Hartley Jack Cuttell has been elected to regulatory authorities. Applications seeking approval have been filed the board of Security State Bank with both the Iowa Department of Hartley. With the bank since 1984, Banking and the Federal Deposit In he is currently vice president and cashier. surance Corporation. Northwestern Banker, March, 1987 60 Iowa News Judge Stageman Joins Des Moines Law Firm Largest Banks in Iowa The Hon. Richard F. Stageman, EPOSITS and loan figures for Iowa banks reporting deposits of $75 60, has joined the Des Moines law m illion or more at year-end are shown in the chart below. Com firm of Davis, parative figures from a year ago are featured. Hockenberg, Wine, Brown, (Last three figures omitted) Koehn & Shors. December 31, 1986 December 31, 1985 He retired re Loans Deposits Loans Deposits cently after serv 1. Norwest Bank Des Moines, N.A.............. $1,132,949 $719,286 $1,031,529 $678,878 2. Davenport Bank & Trust Co..................... 716,904 874,062 230,369 231,958 ing nearly 25 3. Merchants Natl., Cedar R a p id s ............ 375,080 531,110 363,133 566,108 years as U.S. 4. Bankers Trust Co., Des M o in e s ............ 280,317 394,045 286,434 432,776 B ankruptcy 5. First Interstate Bk. Des Moines, N.A. .. 341,026 211,645 303,779 169,729 Ju d g e in the 6. Natl. Bank of W a te rlo o .......................... 287,424 142,615 261,222 132,352 U.S. Bankrupt 271,572 147,750 7. Security Natl., Sioux C i t y ...................... 280,665 162,699 8. Valley Natl., Des M o in e s........................ 163,945 218,895 137,861 246,195 cy Court for the R.F. STAGEMAN 9. First Natl., Iowa C it y .............................. 233,697 156,400 221,181 143,569 Southern District of Iowa. 223,252 106,872 183,229 93,595 10. American T&S, Dubuque........................ A. Arthur Davis, senior manag 11. Hills Bank & T r u s t .................................. 122,941 114,707 222,761 193,335 ing partner of the law firm, said 12. Peoples B&T, Cedar R a p id s .................. 71,138 187,035 72,949 208,506 202,159 102,453 156,040 84,615 Judge Stageman will be the lead at 13. Waterloo Savings B a n k.......................... 99,564 91,154 175,608 195,468 torney in the firm in the area of in 14. Council Bluffs Sav. Bk............................. 164,794 West Des Moines St. B a n k .................... 194,620 120,880 98,093 solvency law, including all matters 15. 187,452 92,496 191,668 106,728 16. Dubuque Bank & Trust .......................... of the Bankruptcy Code. In addi 17. Iowa State B&T, Iowa C ity ...................... 177,058 121,350 185,499 111,615 tion, he will provide leadership 18. First Natl., Dubuque .............................. 105,107 173,029 100,373 182,029 92,399 174,513 109,320 172,795 within the firm in the entire area of 19. Brenton Natl. Bk. of Des Moines .......... 60,484 72,566 140,185 Security Savings Bk., Marshalltown . . . 169,249 commercial law. Mr. Davis said 20. 63,479 147,163 64,899 21. Monticello State B ank............................ 162,251 further that Judge Stageman will be 22. Central State, M u s c a tin e ...................... 45,228 142,031 42,970 158,149 an important part of the internal, 23. First Natl., A m e s .................................... 156,312 66,046 136,028 59,399 64,545 142,820 68,603 151,191 continuing legal education of the 24. Union B&T, O ttu m w a .............................. 82,277 151,342 78,779 148,184 25. First Natl., Sioux City ............................ firm. 139,887 111,602 146,650 97,511 26. First Natl., M u s c a tin e ............................ A native of Omaha, Nebr., Judge 27. Norwest Bk. Mason City, N.A.................. 101,536 144,270 68,263 155,029 Stageman was graduated from 28. Toy Natl., Sioux C i t y .............................. 141,777 140,287 67,455 72,356 153,401 98,910 Creighton University in Omaha 29. Northwest B&T, D avenport.................... 136,185 90,230 190,866 131,621 131,633 91,918 with a B.S. degree in 1949 and his 30. Peoples B&T, W a te rlo o .......................... 57,382 120,311 58,481 Farmers St. Bk., M arion.......................... 128,085 31. J.D. degree in 1951. He had returned 32. First Interstate Bk., Mason C it y ............ 114,313 73,968 125,414 72,525 to Omaha to attend the University 33. Norwest Bk. Fort D o d g e ........................ 127,287 79,042 75,742 124,808 after more than two years duty as a 34. First Natl., B u rlin g to n ............................ 64,860 62,820 119,418 123,168 101,275 54,766 122,952 62,593 Bombardier in the U.S. Navy Air 35. First Natl., Council B lu ffs ...................... 49,245 123,602 52,461 122,866 Corps in the Pacific Theater in 36. Citizens First Natl., Storm L a k e ............ 49,152 50,362 107,112 37. Clinton Natl. Bk., Clinton ...................... 122,008 WWII. 114,557 87,806 117,322 82,730 38. Norwest Bk. Sioux City, N.A.................... He was associated with Smith, 39. First Bank, Davenport1 .......................... 109,404 81,207 88,584 114,219 105,837 52,784 44,800 111,581 Pogge & Stageman law firm in 40. Peoples T&S, In d ia n o la .......................... 62,254 100,969 70,239 106,832 Council Bluffs until his appointment 41. First Interstate Bk. of U rb a n d a le .......... 103,514 54,107 Jasper County Sv. Bk., Newton ............ 52,429 105,479 as Bankruptcy Judge in 1962. Prior 42. 66,854 113,529 58,732 102,227 43. First Interstate Bk. of Fort D o d g e ........ to that appointment, he served one 44. Decorah State Bk..................................... 47,885 86,268 44,340 101,121 term as a state representative for 45. Hawkeye Capital B&T, Des Moines . . . . 60,197 95,572 61,946 92,224 88,422 44,581 38,566 87,926 Pottawattamie County, resigning to 46. First American St., Fort Dodge.............. 49,278 83,113 46,425 87,768 take the bench appointment while 47. Maquoketa State Bk................................ 31,817 28,043 85,136 85,818 48. Norwest State Bk. A tla n tic .................... running unopposed for a second 49. Norwest Bk. Marion, N.A......................... 81,440 57,630 84,352 57,365 term. 42,441 80,558 83,908 41,273 50. Mahaska St. Bk., O skaloosa.................. 32,000 34,257 74,000 81,916 In his nearly quarter century on 51. State Central Bk., K eokuk...................... 41,354 77,378 46,091 81,845 the bench, Judge Stageman was 52. First Security B&T, Charles C ity ............ 74,704 25,125 81,019 26,361 Farmers & Merchants B&T, Burlington . 53. noted as an author and lecturer. His 54. South Ottumwa Sav. Bk........................... 29,018 27,315 75,495 79,778 papers on Bankruptcy laws, particu 55. Iowa T&S Bk., C e n te rv ille ...................... 29,401 28,284 69,710 79,512 larly as they affect the agricultural 56. Brenton B&T, Marshalltown2 ................ 80,949 54,011 40,382 76,683 47,787 37,834 86,128 78,172 industry, are widely-read in the legal 57. Hawkeye B&T, B u rlin g ton ...................... 74,164 38,540 39,378 77,553 Hardin County Sav., E ldora.................... profession. He has presented papers 58. Bettendorf 72,342 52,095 77,449 61,030 Bank, N.A.3 .......................... 59. on the new Chapter 12 Bankruptcy 60. Cherokee State Bk.................................... 66,930 16,701 77,307 18,175 Law in Texas, North Dakota and 61. Farmers Natl. Bk. of Webster C it y ........ 53,392 83,378 75,931 35,856 68,594 36,301 75,814 35,908 Iowa since his retirement. He is 62. Henry County Sav. Bk., Mt. Pleasant . . . 43,187 75,384 36,121 74,653 Brenton First Natl., D avenport.............. 63. scheduled to discuss Chapter 12 dur ’ Formerly First Trust & Savings Bank, Davenport, ing the Independent Bankers Asso fo rm e rly Fidelity Brenton Bank & Trust , Marshalltown, ciation of America annual conven fo rm e rly Bettendorf Bank & Trust Company. tion in Orlando, Fla., April 2-4. D Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 61 W. PAVLICEK First Interstate Bank of Des F irst In terstate Bank of Des Moines, N. A. has announced James Moines, N.A. B. Fogt has been elected execu tive vice presi dent and chief fi nancial officer. His areas of re sponsibility will include finance, investments and operations de p a rtm e n ts for FOGT P.E. McNERNEY M. ROBERTS the loan, trust and investment functions. In addi tion, Mr. Fogt will continue as ex ecutive vice president of First Inter state of Iowa, Inc. and as a member of its board of directors. First Inter state Information Systems of Iowa, Inc. and First Interstate Insurance Services of Iowa, Inc. will continue to report to Mr. Fogt and he will be responsible for coordinating the in vestment portfolios for all banking M. LANG D. TIERNEY affiliates. He joined First Interstate of Iowa, Inc. in 1977. Ms. Robinson joined the company in 1985 as a tax accountant and was * * * later elected finance officer. Ms. Tierney and Mr. Lang joined The following changes have been First Interstate in 1986. announced for First Interstate of * * * Iowa, Inc.: Patrick E. McNerney, Valley National Bank has an vice president, credit administration, was elected senior vice president, nounced four office promotions. Lois credit administration; Marie Ro Kriebs has been promoted to vice berts, finance officer, was elected president, personnel. She joined the assistant controller; Michael Lang bank as personnel manager in 1977 was elected compliance officer, and and has served as assistant vice Deb Tierney, senior auditor, was president since 1980. Bridget M. Reilly has been pro elected audit manager. Mr. McNerney joined First Inter moted from credit analyst to stu state in 1984, after serving as vice dent lending officer. She joined the president of metro lending division, bank in 1985. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis D. SHARP Wayne Pavlicek was advanced to assistant comptroller. He joined Valley Bank last May as senior ac counting officer and previously served as senior financial accoun tant with Banks of Iowa, Inc. Dawn Sharp has been promoted to trust officer. She joined Valley in 1984 as staff auditor and most re cently served as trust administra tor. * * * Bankers Trust Company has an nounced a number of changes in its staff. Promoted to assistant vice presi dent, Donna L. Lowery joined the bank in 1968, serving most recently as professional banking officer. Richard C. Bloxham and Anne E. Fultz have been promoted to loan re view officers. Mr. Bloxham joined the bank in 1984 and most recently served as credit manager. Ms. Fultz has been employed with the bank since 1983. The bank also announced the fol lowing changes in credit administra tion. Sandra K. Kuehl has been named vice president and manager of loan review and credit analysis services. She was hired in 1981 and most re cently served as vice president. . Roger J. Perry has been named managing officer/management infor mation systems. He has held vari ous positions since joining the bank in 1980, most recently as loan re view officer. Randall S. Tweeten has been pro moted to senior loan documentation Northwestern Banker, March, 1987 62 Iowa News specialist. He has been employed with the bank since 1984 as a loan documentation specialist. Also, the bank has announced that James A. Gordon, president of Gordon’s Wholesale, Inc., has been elected to the board. * * * Greg Dockum has been promoted to assistant vice president/operations officer of Brenton National Bank of Des Moines. He has been employed with the bank since 1978. Larry D. Eilers has joined UNI SYS Corporation, formerly Bur roughs Corpora tion, as a senior account repre s e n ta tiv e . He will be assuming account respon sibility in the Des M oines area. He has had extensive bank ing experience, L D E)LERS including vice president and senior vice president assignments for bank marketing, bank financial services and D.P. in formation processing. * G. DOCKUM P. BAIR Pam Bair has been elected produc tivity/training officer. She has been employed with the bank since 1984. In addition, Claudia James has been elected assistant cashier. Em ployed by the bank for eight years, she is currently manager of the ac counting department. * * * Richard E. Davis has been ap pointed as president of First Inter state Information Systems. He joined the company in 1964 and has held various positions, most recent ly serving as the executive vice pres ident. Mr. Davis has announced the pro motions of Evan Branson to com mercial products officer; Carolyn Ethington to operations officer, and Patricia Forest, Lonnie Lair and Sheila Rusk to officers. Mr. Branson will work in the mar keting department. He has been with the company for two years. Mrs. Ethington, with the com pany since 1964, was previously manager of the item processing area. Mrs. Forest is manager of the pro cess control and data entry depart ments and has been with the com pany for 19 years. Mr. Lair manages the computer operations depart ment and has been with the com pany for seven years. Manager of the human resources department, Mrs. Rusk began with the company in 1981. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * * In a joint statement issued last month by Jonathan M. Fletcher, chairman of the board, and Warren W. Harding, president and CEO of American Federal Savings and Loan Association of Iowa, it was an nounced that Mr. Harding retired January 31. He continues as a direc tor and will serve on several com mittees of the board. Mr. Fletcher reported that Mr. Harding has a cardiovascular prob lem and has had several heart at tacks, the most recent occurring in October, 1986. Mr. Harding stated that he cannot physically perform the responsibilities of a CEO. He joined American Federal in 1973 as president and COO and became CEO in 1979 when Mr. Fletcher re tired. Mr. Fletcher will serve as acting CEO until Mr. Harding’s successor is appointed. Brenton Reports Improved 1986 Operating Results Mr. Brenton attributed the 1986 earnings improvement to four fac tors: • A reduced provision for loan losses, which declined from $17,319, 549 to $11,604,840, a drop of $5,714, 709 or 33% less. • A gain of $5.1 million from the change of the company’s defined benefit pension plan to a new de fined contribution plan. • Gains on the sale of investment securities of approximately $2.1 mil lion, with net unrealized gains of $2.5 million remaining in the port folio at December 31, 1986. • A decline in non-performing loans from $33,731,000 to $19,405, 000, a drop of $14,326,000 or 42.5% less. At 1986 year-end, the reserve for loan losses was 2.09% of the loan portfolio, compared to 1.95% at 1985 year-end. Mr. Brenton reported loans of $431,779,479, net of unearned in come, and non-performing loans of $19,405,000, totalled $451,184,479, or 52.1% of deposits of $865,487, 314. The loan portfolio consisted of real estate 45.8%, commercial 19.5%, consumer 21.2%, and agri 13.5%, with a continuing trend of declining ag loans. Weak loan de mand coupled with lower invest ment rates cut the net interest mar gin from 4.17% in 1985 to 3.94% for all of 1986. Mr. Brenton said the 1987 out look includes a continuing decline in loan loss provisions and a somewhat strong loan demand in metro bank ing areas. Total assets at 1986 yearend were $956,505,286, down 0.7% from $963,189,625 a year earlier. Brenton Banks owns 16 banks with 39 locations, and six subsidiaries. C. Robert Brenton, president of Brenton Banks, Inc., Des Moines- Changes Told in Waterloo Russell E. Lauterbach has been b ased m u l t i elected chairman for Peoples Bank b a n k hol di ng and Trust Com c ompany, r e pany in Water ported last loo. He has over month that op 40 years of ex erating results perience with for 1986 were Peoples Bank significantly im and Trust Com pr oved over pany, h a v i n g 1985. The com joined the bank pany reported c R BRENTON in 1946. In 1952, consolidated net profit for 1986 of $3,520,718, com he was a p pared to a net loss of $4,586,795 for pointed assis- RE- l a u t e r b a c h 1985. Per common share earnings tant trust officer and cashier in for 1986 were $1.32, compared to 1956. Appointed vice president and cashier in 1966, he was elected se($2.10) for 1985. 63 chairman of Parkersburg State The bank’s stockholders have Bank. elected the following directors: Mr. In addition, James L. Friedl and Lauterbach; Mr. McDermott; Bruce Alan L. Ploeger have been promoted S. Anderson, senior vice president to vice presidents for the bank. Mr. and cashier; Steven G. Marlette, ex Friedl brings eight years of experi ecutive vice president, Peoples ence to his position in commercial Bankshares, Ltd., and Steven C. loans. Previously, he was an assis Strautz, vice president. tant vice president in commercial loans. Mr. Ploeger was previously an agricultural loan officer for the West Bank Has Record Year; bank. He has 10 years experience Announces Staff Changes and will have responsibilities in agri West Des Moines State Bank has cultural loans. reported a record year in all major areas. Assets reached $222 million, an increase of 17.1 percent, with deposits nearing $195 million for an 18.1 percent increase, and loans in creased to $121 million or 23.2 per cent. The loan portfolio consists of approximately $66 million in com mercial loans, $24 million in real estate loans, and in excess of $15 million in consumer loans — all made in accordance with West A.L. PLOEGER D.J. OLTMANN Bank’s policy of lending only to cus tomers in its trade territory. Debra J. Oltmann has been West Bank leads the metro area named as the bank’s internal audi in number of loans made through tor. She was previously the acting the Small Business Administration internal auditor for Peoples Bank- and has a “Preferred Lender” desig shares, Ltd. She has also been an nation by the SB A. assistant examiner with the FDIC. The bank also announced the pro motion of seven officers and the elec tion of six new officers. Joyce A. Chapman has been pro moted from vice president—admin istration to senior vice presidentadministration. With 25 years bank ing experience, she has been with the bank since 1971. William J. Duma and Richard C. Finley have been promoted from first vice p resid en ts to vice presidents. Mr. Duma has 25 years of previous banking experience, join ing the bank last year. Mr. Finley joined the bank last year and has 24 years banking experience. Sharen Surber has been promoted from cashier to vice president and cashier. She has been with the bank since 1975 with previous banking experience at Valley National Bank. Promoted from first vice presi dent to first vice president—assis tant trust officer, Alice A. Jensen joined the bank in 1973. Kay A. Trager and Dan L. McNace have been advanced from assistant cashiers to second vice presidents. Ms. Trager joined the bank in 1972 and Mr. McNace in 1977. Elected to second vice president status were: Mary J. Anderson; PenIowa News nior vice president and cashier in •l9 6 8 . T.P. MCDERMOTT J.L. FRIEDL ^ Thomas P. McDermott has been ^elected president and chief executive officer of the Waterloo bank. He brings 32 years of banking experi ence with him. He began in 1955 as ^cashier for the State Savings Bank in Fontanelle. In 1964, he joined First National Bank, Fairbury, Neb., where he served as its execu tive vice president. He became presi d e n t of the La Porte City State Bank in 1970. In December 1985, La Porte City State Bank was merged into Peoples Bank and Trust Com pany. At that time, he was ap p o in te d vice president and agricul tural loan officer for the bank, and in 1986, was elected president and Committed to making your bank stand apart from the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, March, 1987 Iowa News 64 ny R. Beier; auditor and credit analysis; Lyn J. Fair, marketing; Sherry S. Levine; Ronald A. Phil lips, and Donald R. Stone, assistant trust officer. Ms. Anderson has been with the bank for nine years. Joining the bank in 1984, Ms. Beier is a CPA who was formerly with Bankers Trust. Ms. Fair has nine years of banking experience, joining the bank in 1985. Formerly with Brenton Banks, Inc., Ms. Levine joined West Bank in 1985. Mr. Phillips joined the bank in 1984 and has six years banking experience. An attor ney, Mr. Stone joined the bank in 1985. In addition, Larry L. Piatt, a bank vice president, will be joining the bank’s board. He has been with the bank for the past 19 years. Board Chairman J. Bradley Young said bank deposits reached an all-time high of $79.5 million at the end of 1986 compared to $69 mil lion at the end of 1985. Mr. Bastron has been with the bank since 1971 and was elected vice ® president and cashier in 1980. He currently heads the operations divi sion of the bank. Mr. Juvan, currently the head of the trust department, has been with ^ the bank since 1972. Staff Changes in Milford Changes Made in Missouri Valley Bank Mark C. Fisher, executive vice # president, has been elected presi dent of the Dickinson County Sav ings Bank, Milford. David D. Awtry has been elected vice president and cashier. • Mr. Fisher has been with the bank since 1977, and Mr. Awtry joined the bank in 1976. In addition, James W. Cravens, former president of the bank, has ® been named chairman. Gregory D. Pollard has been elected president and chief executive officer of The First National Bank, Missouri Valley. He has been with the bank since 1981 and was most Promoted in Centerville recently serving as executive vice Five promotions have been an president. nounced at Iowa Trust and Savings Mr. Pollard replaces Robert E. Bank, Centerville. Brown, who has retired. Mr. Brown Brad Young, Jr. has been pro was associated with the bank for 27 moted from assistant vice president years. to vice president in charge of con Also joining The First National Jeanette Ellington Named sumer lending and student loans. He staff, as assistant vice president, is has been with the bank for four Matt McHugh, who has been associ Asst. Vice Pres, at IBIS Jeanette M. Ellington was pro years. Michael O’Connor has been ated with The Harlan National Bank moted to assistant vice president at promoted to vice president in charge of Harlan. of customer relations and public Iowa Bankers relations. He joined the bank last Three Promoted in Ottumwa Insurance and year after 25 years in radio and tele Services, Inc., Three officers have been pro Des Moines, ef vision broadcasting. moted at Union Bank and Trust fective February Company, O t 1. Mrs. Elling tumwa. ton, a native of Roger RinderDes Moines, has knecht, p re si been assigned to dent of the bank the life/disabilisince 1986, has ty/annuity divi.m p t o n also a s s ume d sion where she J- ' the duties of will market products of the division chief executive to Iowa bankers, with her special officer. He has emphasis on IB IS’ successful IDEA B. YOUNG, JR. M. O’CONNOR been with the R. RINDERKNECHT Annuity. bank since 1985, Mrs. Ellington joined IBIS in after serving as president of Bren- January, 1981, as administrative ton State Bank for five years in Jef secretary and meeting coordinator. ferson. He has a total of 19 years of Previously, she was employed by banking experience. Banks of Iowa, Inc., from 1970 to Bob Bastron has been elected se 1975 as executive secretary to the nior vice president and cashier, and president. She later held the position Frank Juvan has been elected senior of marketing representative at vice president and senior trust offi- Bofl’s affiliated Valley National cer. Bank, the fourth largest bank in the K. THOMAS L. SMITH Kathy Thomas has been pro moted to assistant cashier. She has been a bank employee for over seven years. Lana Smith has been named the Moravia office manager, replacing Hilda Walter, who retired last year after 22 years of service. Mrs. Smith has been employed at the bank for six years. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis D ps M nirips m a rk et. Changes Told in Britt B. BASTRON F. JUVAN Robert C. Gopperton has been ^ promoted to executive vice presi dent of First State Bank, Britt. He has been with the bank for 18 years. Harold M. Wallen has been pro moted to vice president and cashier. ^ Employed with the bank since 1958, Iowa News he most recently served as cashier, In the Woden branch office, Dixie Buns has been promoted to office manager. Mrs. Buns has been em ployed with the bank since 1973. The bank has also announced the •resignations of two directors, Erwin Buck and Vince Kopacek. Mr. Buck was on the board for 23 years, and Mr. Kopacek served for 17 years. Mr. Wallen has been elected to the •board to fill one of the vacancies. Other changes for the upcoming year will include new hours that went into effect February 1. The main bank, drive-in and Woden of•fice will close at 5:00 p.m. on Fridays instead of 5:30 p.m. ft been adjunct instructor at Murray State College and East Central Uni versity. He is a Graduate of Paullina High School, attended Morningside Col lege and the University of Iowa, ma joring in Civil Engineering and is a graduate of the Graduate School of Banking at the University of Wis consin. Promoted in Council Bluffs ft Lee E. Bossom has been named president of the Peoples State Bank, Winthrop, with the retirement of Ted L. James, who will remain on the board. Mr. Bossom joined the ftbank in 1986, after serving most re cently with the Farmers State Sav ings Bank of Independence and the Walker State Bank. John R. Tischer and Jerry G. Moritz have been promoted from vice presidents to senior vice presidents of State Bank and Trust, Council Bluffs. Mr. Tischer joined the bank in 1983 as manager of the Underwood office. Mr. Moritz joined the bank in 1985 in the agricultural loan depart ment. In addition, Stanley J. Andersen, agricultural loan officer, has been named assistant vice president. He joined the bank in 1985. Deb Stazzoni, executive secretary, has been named secretary to the board. She joined the bank in 1976. *Named in Mapleton Promoted in Perry Named in Winthrop Mapleton Trust & Savings Bank has named Gary W. Thies as presi dent and chief executive officer of ftthe bank. He has been associted with the bank since 1961. James G. Whiting, former presi dent of the bank, continues as chair man. » At Perry State Bank, John Halvorsen and Charles B. Painter have been promoted. Mr. Halvorson, for merly cashier, is now vice president and cashier. Mr. Painter, formerly consumer loan manager, is now as sistant vice president. In addition, five bank employees were recently recognized for con tinuous service: Janet Correy, Cathy Former Iowa Banker Radebaugh, Marilyn Burns, Bill Heads Oklahoma Bank Campidilli and Jim Haas. Com Loren P. “Larry” Miller has re bined, they have contributed 100 c en tly been elected president and years of service to the bank. Mr. chief operating Haas, senior vice president and officer of First senior trust officer, retired as of National Bank & March 1. T ru st Co. of &Ada, Okla. He Appointed in Dubuque joined the bank in Ada in 1982 The American Trust & Savings after having Bank, in Dubu been associated que, has a n ^with First Na nounced the ap tional Bank in p o i n t m e n t of Sioux City for 21 l .P. MILLER Peter Oster as years. personal bank His professional affiliations in- ing officer, em ' elude being a Certified Review Ap ployee benefits. praiser with the National Associa Prior to join tion of Review Appraisers and Mort ing American gage Underwriters and a Senior Cer- Trust, Mr. Oster P. OSTER tifed Valuer with the International was associated 'Institute of Valuers. Mr. Miller has with The Bank of Kansas City. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 65 Changes Told in Hubbard James O. Wimmore has retired as executive vice president of Security State Bank, Hubbard. Roger Sever son has been advanced to that posi tion, and Erma Haarup has been promoted to cashier. Ron Raney will remain as vice president and farm loan officer. Named in Colfax Michael P. Kuehn has been named assistant vice president of The First National Bank in Colfax. He will be in the lending area on a full-time basis. Appointed in Sioux City First National Bank, Sioux City, has appointed Scott L. Wilson as quality control administrator, and Dale Fink as senior family banking officer. ■ ráUl S. WILSON D. FINK Mr. Wilson has been associated with another Sioux City financial in stitution since 1980. Mr. Fink has 15 years of experience in the financial business in Sioux City. Two Elected in Sioux City The Security National Bank of Sioux City has elected Douglas E. Palmer, president of Terminal Grain Corporation, to the bank’s board. In addition, Richard A. Waller, senior vice president of the bank, has been elected to the board for a one-year term as part of the bank’s senior management board rotation plan. Promoted in Council Bluffs Several promotions have been an nounced at First National Bank of Council Bluffs. Debra Debbaut has been pro moted to assistant vice president. With the bank for 13 years, she is currently manager of the general services area. Also promoted to as sistant vice president, Pauline Tompkins has been with the bank for six years and is currently manNorthwestern Banker, March, 1987 Iowa News 66 ager of the data processing/customer service area. Jaci Schlautman has been pro moted to real estate loan officer. She has 11 years banking experience with four years in real estate loans. Lori Watson has been promoted to personal banking officer. With the bank for four years, she is cur rently working at the Mall of the Bluffs branch. Named in Iowa City Mark J. Thompson, vice presi dent, has been named head of First National Bank’s customer service department, Iowa City. M.J. THOMPSON E.J. KARLIN In addition, E. James Karlin has joined the bank as vice president in charge of the personal loan depart ment. He was president of the First Newton National Bank, Newton, and was formerly associated with Hawkeye State Bank, Iowa City. Two Advance in Algona Lynn Norcross has been advanced to vice president, loan administra tion, at Iowa State Bank, Algona. He has been overall supervisor of the lending department at the bank, and associated with the bank for eight years. Prior to that, he was em ployed as vice president and ag rep resentative of the National Bank and Trust Company, Sycamore, 111. L. NORCROSS loan officer by the Federal Land Bank Association of Decorah. Elected in Clarinda Robert Briggs has been promoted to vice president of Citizens State Bank, Clarinda. He joined the staff in 1984 as assistant vice president. Michael W. Naughton, recently retired partner with Deloitte Has kins and Sells, in Omaha, Neb., has been elected to the board. Northwestern Banker, March, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J. THOMPSON Mrs. Petersen joined the bank in 1951 and most recently served as ad m inistrative assistant of tru st operations. Ms. Thompson has been Promoted in Pocahontas associated with the bank since 1969. Citizens State Bank, Pocahontas, Also, Curtis G. Hollis has been has promoted Stephen Baade and elected to the bank’s board. He is John C. Smith from loan officers to president and owner of Lanehaven vice presidents. Farms, Inc. Mr. Baade joined the bank, for merly known as the Commercial State Bank, in 1985. Mr. Smith, also Appointed in Hills Steve R. Ropp has been appointed joined the bank in 1985. He is also agency manager of Citizens Insur assistant cashier of Hills Bank and Trust Company, ance Services, Inc. Hills. After gradu Promoted in Denison ating from Iowa Terry Prickett has been promoted State University to assistant vice president of Craw in 1986, he ford County Trust & Savings, Deni joined the bank son. He handles a variety of loan and began a gen functions as well as serving as secre eral banking offi cer training pro tary to the board. Rhonda Wessel has been pro gram. He will be SR- R0PP moted to cashier of the bank. She responsible for consumer, commercial, agricultural will manage and supervise the n v>/-l nnf of n 1 of f n o h c m l i operations and bookkeeping depart ments of the bank. Iowa City Banker Dies Richard “Dick ’ A. Barkalow, senior vice presi dent in charge of the loan depart ment of Iowa State Bank and Trust, Iowa City, died Febru ary 22 after a long illness. Mr. Barkalow, 53, had been R.A. BARKALOW with the bank since 1951. D. RUCKER Dennis Rucker has been promoted from assistant vice president and ag representative to vice president. He has been with the bank for 10 years. For three years prior to joining Iowa State Bank, he was employed as a D. PETERSEN Three Named in Waterloo The Waterloo Savings Bank has appointed Delores Petersen to assis tant trust officer operations, and Jane Thompson to assistant trust officer. INDEX OF ADVERTISERS March, 1987 Bankers Trust Company., Des M oines............................... 50 Carpenters Pension Fund of Illinois ................................ 6 Carroll, McEntee & McGinley, Inc....................................... 9 Chase Manhattan, New York ..............................................10 Dawson Hail In su ra nce ........................................................17 First National Bank, O m a h a ............................................... 43 First Wisconsin National, M ilw aukee........................... 34-35 Gross, Kirk Co., W a te rlo o ................................................... 53 IAC Group, Kansas C ity ....................................................... 19 Iowa Bankers Insurance & Services, Inc.............................55 LaSalle National Bank, Chicago ........................................18 MBU, Inc................................................................................. 45 Marquette Bank, Minneapolis ........................................... 23 Merchants National Bank, Cedar Rapids National Bank of Commerce, L in c o ln ............................... 40 National Bank of W a te rlo o ................................................. 57 Norwest Corporation, M in n e a p o lis ................................... 68 Office Concepts, Ltd., W aterloo......................................... 63 Plus System, Inc., D en ve r................................................... 3 Rothschild, Unterberg, Towbin, L.F., Inc. Security Pacific Financial Systems Square Deal Insurance C om pany.......... Swords Associates Inc., Kansas City . . Trans Union Credit Information Co........ United Missouri Bank, Kansas City . . .. 1 moved/' "I joined the Army/' "1 changed my name/' “1 skipped Now, trace them with TRACE. An important new tool for the Credit Collection Industry designed to locate the addresses of delinquent and skip accounts in minutes! As America's largest credit information company, Trans Union maintains the current addresses and social security numbers of 80% of all U.S. households. Now, as a subscriber to TRACE, you can access this massive data base to deter mine the current address of virtually anyone, anywhere. You input the sub ject's social security number and TRACE provides the information quickly, easily and inexpensively. Here's What Users Say: "TRACE is an excellent tool for skip-tracing people who have moved out o f state. 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