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V o l.9N o .45 Des Moines, Iowa March 2,1981 Bankers Seek Changes in Regulations OMMUNITY bankers now C have identified some of the most burdensome government regula tions that should be changed to reduce the cost of compliance and still serve the needs of bank customers. An advisory board to the Community Bankers Division of the A B A , made up of bankers from all 50 states and the District of Columbia, categorized cumbersome regulations into three areas: (1) regulations affecting the way banks deal with their customers, (2) regulations affecting internal man aging of a bank, and (3) regulations that prescribe standards for safety and soundness of a bank. “ We wanted to get the reaction from a sampling of the nation’s community bankers as to what regulations they felt have hindered their ability to operate and provide their customers with financial services,’ ’ said L.J. Hebert, Jr., chairman of the A B A Community Bankers Division and also president of La Fourche National Bank, Thibodaux, La. A survey was mailed two months ago to the 250 members of the Community Bankers Division’s advisory board and to the 21 member executive committee, of which Mr. Hebert is chairman. Results of that survey were perplexed and feel they are terribly inconvenienced by most of these laws which theoretically were supposed to protect them,” said one community banker. Other regulations suggested were elements of Regulation Z, Truth-inLending, particularly the many required disclosure items, and elements of Regulation B , the Equal Credit Opportunity A ct and the Fair Credit Reporting Act, particularly relating to dual sets of standards and the additional costs involved to banks and reporting bureaus. discussed at a recent meeting in Phoenix in conjunction with the third annual Community Bank Executive Conference. The purpose of that meeting was to begin to prioritize regulations for an A B A agenda for “ a better banking environment.” Bankers identified costly and inefficient regulations and com mented on how they impair the way they conduct the business of banking. The first category: regulations affecting the way banks deal with their customers, received the most comment from bankers with regulations such as the National Flood Insurance Act, the Bankruptcy Act, the Real Estate Settlement Procedures A ct and the Home Mortgage Disclosure Act most often identified. “ Customers are confused and Comments on the second cate gory: regulations affecting internal management of the bank were characterized by their intensity, particularly on the Financial Institutions Regulations Act (FIRA), which one banker said “ violates privacy,” and “ makes it difficult to obtain responsible and productive (bank) directors.” The Equal Employment Opportunity A ct was identified as “ complex” and “ necessitates hiring a special ist.” In the third category: regulations that prescribe standards for safety and soundness of a bank, restrictive state usury ceilings which hinder banks from serving the credit needs of their communities, and Regula tion D, involving forms that “ do not fit any typewriter,” were identified. Capital Account Rule Require- ASK JOHN MANGOLD to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank isi Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK 2 UPDATE YOUR ALARMS Don't gam ble when choosing o correspondent bonk. Com e to the professionals. Central National Bank & Trust Company DES MOINES • MEMBER FDIC TOLL FREE NUMBER ( 800) 362-1615 ments, Regulation H dealing with securities transactions and the Security Exchange Disclosure Act were also identified. Additional descriptions of regula tions often repeated during the bankers’ discussions were: “ com plex paperwork,” “ duplicate repor ting requirements, ” “ overwhelming costs involved to comply,” “ mean ingless disclosure and record retention,” and “ forced to pass the cost of compliance back to the customer.” In their comments, bankers were consistently aware of the difference in the size of community banks versus money center banks. Com munity banks have less than $150 million in assets and less than 200 employees. The majority have less than $50 million in assets and less than 23 employees. “ Compliance means something entirely different to a bank in my hometown as compared to a bank in a city like Chicago.” said one banker. “ Yet, I must go through the same procedure that the larger sophisticated, well-staffed and wellequipped bank does in order to conform.” “ As yet, no one from (our Security and video systems profes sionally designed to fit all your needs. For inform ation and complete survey call: SECURITY SYSTEMS, INC. 3920 Delaware Des Moines, IA 50316 [515] 265-1161 community) has ever asked for any information relating to this act,” another banker said about the Community Reinvestment Act (CRA). “ If we are to succeed as a bank, it is up to us to do this job in a proper manner. It will be done without this act.” Speaking on behalf of the community bankers, A B A Chair man Hebert has already called on banking regulators to scale down regulatory and reporting require ments and to treat small businesses more equitably, as mandated by the recently passed 1980 Regulatory Flexibility Act. □ Iowa News DES MOINES: Hawkeye Bancorporation’s application to acquire United State Bank, Cedar Rapids, has been approved by the Fed. The acquisition, to be completed on March 31, will be Hawkeye’s 26th affiliate bank. United State has assets of $40 million. Announce ment of the proposed acquisition of Jackson State Bank and Trust Co., Maquoketa, with assets of over $65 million, was made in January. PARKERSBURG: O.A. Bailey, 87, former owner and president of Parkersburg State Bank, died recently. Mr. Bailey had been in banking since 1925, and came to Parkersburg in 1932. He retired in 1972, but remained on the board. POSTVILLE: Stanley Straate has been promoted to vice president and farm rep of the Postville State Bank. He joined the bank in 1978. Our computer capabilities give you a lot o f help for your m onev. nesMoines A A Member FDIC An A ffilia te o f N o rth w e s t B a n c o rp o ra tio n Banco » THURMAN: The Thurman State Bank recently celebrated the completion of its new home with open house activities attended by 350 persons. North Dakota News FARGO: Terry R. Bladholm has been appointed to the board of the Fargo National Bank. He is president of Concrete Sectional Culvert Co. GRAND FORKS: Ross G. Kroeber has been promoted to assistant cashier of Community National Bank. WAHPETON: Promoted at First Bank of North Dakota were Dwaine H. McRoberts to vice president and cashier and Willard J. Strege to assistant vice president. Montana News BILLINGS: A t Security Bank, James R. Penner has been promoted to investment officer and Ronald "Opportunity Colls..." Leo K ane, Correspondent Danker American Trust & Savings Dank The Dank of Opportunity Town Clock Plozo, Dubuque. Iowa CALL 319-582-1841, COLLECT https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis N A T IO N A L B A N K Supplement to Northwestern Banker Newsletter 3-2-81 iMPonTAM^ b T ia ^ ^ ^ ro m i m \n s One of Iowa’s leading holding companies has recently revised and redesigned all lending forms used throughout their system. All forms are current. They are written by lending experts and reviewed by the top legal counsel in the field. This same staff will continue to update all form s to remain in compliance with Iowa and federal regulations. Effective now, these forms are being made available to all banks in Iowa. Your bank can take advantage o f this fine legal counsel and loan form review currently in use. A Please send a pricelist/order form to my attention: ■M ail to: Current Lending Forms Northwestern Printing & Publishing Co. I 306-15thStreet Des Moines, Iowa 50309 Phone (515) 244-8163 i 'l Bank Officer Address City https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis __________________________ , State _ Sample forms are available upon request. (zip) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 199 CALL ON THE “PERFORM ANCE TEAM where comm on transactions are handled uncomm only well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. SERVING PROFESSIONALLY Banking,Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 Timm to commercial loan officer. Nebraska News ALLIANCE: Promoted at Alliance National Bank were Richard E. Bilstein and Richard E. Henderson to vice presidents, Glen D. Witte to assistant vice president, Eva Knight to trust officer and Matthew Foreman to manager of computer services. BLAIR: Harold Matney has joined the staff of the Blair Bank as senior vice president. Promoted were Iona Stem to personal banker, Mike Urdahl to assistant vice president, DeAnna Nielsen to vice president and cashier, Connie Nelson to coordinator of computer operations and Mark Gosker to executive programmer. HOLDREGE: Receiving promo tions at First National Bank Holdrege were C .D . Erickson to vice president and cashier, Gary R. Mueller to assistant vice president, P. William Erickson to assistant vice president, A. Lucille Erickson to auditor and Bernice M. Lindgren to benefits officer. Newly-elected officers were Randy K. Rouse to assistant cashier/compliance offi cer, Margery Verbeck to assistant cashier/administrative assistant and Donna Debban to assistant cashier. M ILL A R D : A t the Bank of Millard, Linda Behounek and Julie Gonzales our Bond Departm ent For up-to-the-minute, accurate information wn operations tion Co., had been a director for 12 years. SCOTTSBLUFF: The Scottsbluff National Bank and Trust Co. has announced the elections of Don L. Smith to senior vice president and H. Hod Kosman and Richard C. Zoeter to vice presidents. Mr. Smith joined the bank in 1958. W ILM OT: Betty Reyelts, an employe for 23 years of the Wilmot State Bank, has been appointed assistant cashier. have been officers. named Major banking legislation, sup ported for introduction before the 82nd session of the Illinois General Assembly, is the subject of a media, banking industry and legislative background briefing to be held Tuesday, March 3 in Rock Island at the Sheraton Inn. The sessions, sponsored by the Association for Modem Banking in Illinois, will begin at 8:00 a.m. Minnesota News AU STIN : Daryl D. Thietje has been elected personnel/operations officer of the Northwestern State Bank. DUNDAS: Randal J. Bums was elected president and c.e.o. of the Dundas State Bank. He joined the bank in 1969. Also promoted were William A. Reilly to executive vice president and Barbara E. Meyer to cashier. B A TA V IA : Promoted at the First National Bank were Marion L. Betz to auditor, Stephen V. Foley to assistant vice president and Phyllis A. Hartman to assistant cashier. ECHO: The application by Echo Bancshares, Inc. to become a bank holding company through the acquisition of the Citizens State Bank has been approved. CHICAGO: Central National Chi cago Corp., the holding company for Central National Bank, has repor ted that substantial midwestern investors have approached Central National’s controlling shareholders concerning the sale of their stock ownership. A more definitive announcement is expected to be made in a few weeks. NEW BRIGHTON: The application by Sahara Bancorp. Inc. to become a bank holding company through the acquisition of the First State Bank has been approved. South Dakota News G A R Y : Gary State Bank has announced the retirement of Oliver Nelson from the board. He had served as a director for 20 years. Appointed to fill Mr. Nelson’s vacancy was Arvin Jesme, a Gary area farmer. LANSING: Luella M. Scheuneman has been promoted to assistant vice president of First National Bank. She has been with the bank 20 years. BANKERS PARTICIPATING WATERTOW N: The First National Bank has announced the retirement of Leslie M. Rose as a director. Mr. Rose, president of Gray Construc leasePlan.Inc. 545 - 31st Street John Henderson Tony Paugoulatos V ic e P re side n t 234-2462 V ic e P re sid e n t 234-2463 Asst. V ic e P re sid e n t A sst.V ice P re sid e n t B o n d O ffic e r 234-2647 234-2673 234-2674 ' Jim McLaughlin Des Moines. Io w a 50312 R. L. “ DICK” SELLON Tom Steffens C o m m e r c e Ba n k of Kansas city Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Illinois News Rusty Reese 1 0 th a n d W a ln u t Dave Wittenborn B o n d R e p re se n ta tive 234-2691 (8 1 6 ) 2 3 4 - 2 0 0 0 □ My majority bank stock is for sale. □ I want to purchase majority stock in a bank. Please contact Ellis Jones, Broker Semi-retired, professional banker Jones Realty 205 South Eaton St. Lakewood, Colorado 80226 Phone: (303) 232-1189 Ag Banking S p ecialists^ | | When it comet to agriculture, banking and perso n n el. . . go to the specialists — go to A G R Icareers, Inc. Progressive bankers pay us to find the people they need. W ANTADS CREDIT M A N A G E R S .........IA & OH . . . . $18-23,000 AG LOAN O F F IC E R S .........IA .................$18-20,000 TWO FARM MANAGERS . . I A & I L ......... $16-24,000 AG LENDING OFFICER .. .NE IO W A .. .$15-20,000 CREDIT M A N A G ER .............K Y .................$20-30,000 INSURANCE MANAGER . . N E ................$16-19,000 Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER 3 0 6 -15th St. ____________Des Moines, Iowa 50309_____________ Ask our banking specialist, Linda, what's WANT TO BÜY available without cost or obligation. (515)394-3145 > NEW HAMPTON, IA 50659 CAPABLE-PERSONABLE-AGE 39. Want to learn management from bank owner with timetable toward purchase of same. Initial equity available. W rite File MBP, c /o Northwestern Banker.______________ (WTB) aqn c >ir e b ?s , in c J THE ORIGINAL AGRICULTURAL RECRUITER FOR LEASE Mobile bank unit, 12’x62’. Complete banking equipment, including drive-up window, night depository, two teller stations, private office off lobby. Available now. Drommer Leasing, 401 Queens Court, Sioux City, Iowa51104, (712)239-2315. (FL) FOR SALE Burroughs S-3000 4-pocket proof machine, one year old. Phone Van Horne Savings Bank, (319) 228-8321. _____________________________________________ (FS) $11 m illion high perf. bank. Dynamic area S.E. MN. 97% bank stock; 100% O.B. holding co.; Ins. Agcy. Five year Ave. R .O.A. = 1.65. Price at 1.85 book of package or 8.08 x 1980 earnings $2,100,000. Cash. Write file No. MBQ, c /o Northwestern Banker. Your resume requested.____________________________ (FS) MODULAR BANK UNIT: 12’x7’ equipped with drive-up window. Used as bank’s drive-up facility. Available immediately. Contact Northwestern State Bank of Dodge Center, MN 55927. Phone (507) 374-6311. (FS) NCR Proof Machine Model 482-Printer and Sorter. Mid City Bank, Omaha, Nebraska, (402) 558-8000. (FS) POSITION WANTED POSITIONS WANTED CEO of $8 million bank seeks new opportunity as either number one or number two p e r s o n ...................... .............................................................. $28,000 to $30,000 Operations person with ag lending exp. and insurance licenses ready toaccept greater challenge .. .$26,000 Second man with outstanding track record in ag lending and operations wants to move to progressive b a n k .........................................................................$28,000 W rite or call Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, Iowa 50309. Phone (515) 244-8163. Employer pays fee. IMMEDIATELY AVAILABLE: Do you prefer persons who are career minded, individuals who have outstanding growth potential? We have a graduating class of exceptional students seeking employment opportunities in agriculture, consumer, and commercial banking. Their studies have concentrated on lending, operations, principles, insurance, consumer compliance, and on and on . . . For more information about graduates, write or call Terri Beckman or Romeo Cyr, Red Wing Area Vocational Technical Institute, H w y 58 a t Pioneer Rd., Red Wing, MN 55066. Phone(612) 388-8271.______________ (PW) POSITION AVAILABLE COUNTRY BANKERS - The First State Bank of Newcastle, W yo., a $35 million bank on the Wyoming side of the scenic Black Hills, is seeking applications for two bank officer positions: — An operations-oriented individual, business administration or accounting background preferred, some experience desirable. -C om m u nity-oriented loan officer, some agricultural credit experience desirable. Some qualifications flexible, salaries negotiable. Send resumes or call Donald J. Jording, President, First State Bank, Newcastle, Wyoming 82701. Phone (307) 746-4411.___________ :___________________ (PA) LOAN OFFICER - Central Illinois bank seeking individual for lending responsibilities, primarily consumer loans. Operations experience helpful, but not necessary. Call Bart Solon, State Bank of Girard, Phone (217) 627-2112._________________________ (PA) Young CPA with bank holding company knowledge. Write file MBM , c /o Northwestern Banker._______(PA) BANK PR ESID ENT/C .E.O . with opportunity to invest to 25% of capital. Newly chartered bank in central Minnesota. Send resume and financial statement to File MBI, c /o Northwestern Banker.____________ (PA) A northeastern Iowa county seat bank, with assets of $27 million is looking for someone with trust and marketing experience. This person should have an ag background and knowledge in making loans. W rite file MBQ, c /o Northwestern Banker._______________ (PA) Office Manager with agricultural lending background for bank office in small southeastern Iowa community. Write file MBR, c /o Northwestern Banker. (PA) POSITIONS AVAILABLE Insurance agent for Nebraska bank located near major c ity .....................................................................Salary open Num berTwo Person for$60 million Iowa bank. Should be generalist with solid commercial lending experience............................................. Salary to $30,000 Ag Lender for Southwest Minnesota bank...................... ....................................... ......................Salary to $28,000 PARTIAL LIST OF AVAILABLE POSITIONS LENDING • N.W . iowa bank seeking ag lender with at least 2 yrs exp. $18,000. ASST. VP - Large Des Moines bank looking for heavily experienced commercial lender who has a keen sense of business judgment. $28,000. COMMERCIAL LENDING OFFICER - Must have at least 3 yrs experience and ability to run a branch. $23,000. SENIOR TRUST OFFICER - Need heavily experienced indiv to come into trust dept and eventually assume full responsibility for trust dept. $21,000. LENDER - Nebraska bank seeks indiv with ten years of experience in commercial and especially agriculture lending. $25,000 + 2ND PERSON/INSTALLM ENT LENDER - Need at least 2 yrs of exp handling installment loans, student loans, mastercharge and direct & indirect loans. $17,000. ALL FEES COMPANY PAID. FOR FURTHER INFORMATION RESPOND IN CONFIDENCETO: Bank Division ROBERT HALF of Iowa. Inc 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID EXPERIENCED PERSONNEL AVAILABLE #1042 Operations Officer, lending, auditing, personnel #1148 Asst. Manager Installment Loans, 12mm dept. #1016 Senior Commercial Loan, Commercial School grad. #1174 Branch Manager, looking for growth (lending) #1172 Regional Manager Finance Co. (marketing and management) #1156 Ag-Loan Officer, 3 yrs. experience, good training #1164 Installment Loan, 3 yrs. exp., T.C. area preferred #1157 Auditor-Holding Co., wants credit and lending #1165 Installment Loan Manager #1135 Ag-trainee, 1 yr. exp. #1137 Operations Officer #1175 Ag-Loan V.P. 25K 18K 35K 25K 25K 20K 20K 16K 20K 13K 22K 25K These people are representative of the qualified bankers we recommend to you. TOM HAGAN & ASSOCIATES OF MINNESOTA 4901 West 77th St. Edina, Minnesota55435 David Dahl (612) 835-4121 Megan Maloney All positions employer paid Fee Range 8-15% ’ POSITIONS AVAILABLE PRESIDENT- $40MM ag-oriented bank. Prefer ag related degree and solid background in cattle-feeder lot financing............................................................ $40,000 SECOND OFFICER- opportunity to assume CEO duties in 2-3 yrs. $10MM rural southern Missouri bank. Desire ag experience...................................$20,000 LOAN OFFICER- oversee consumer lending function and handle commercial credits. $50MM Rocky Mountain bank........................................................ $25,000 Cashier needed by Nebraska bank in town of 10,000 ...................................................................................$25,000 SENIOR AG LENDER- prefer 5 yrs. or more lending experience. Position will develop into Exec. VP...............................................................................$28,000 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, Iowa 50309. Phone (515) 244-8163. Employer pays fee. TRUST OFFICER- head dept for$35M M rural oriented bank. Position requires 3-5 yrs. general trust experience. Law degree not necessary..............$25,000 Errors & Omissions Coverage 1. Directors & Officers Liability 2. Trust Errors & Omissions 3. Data Processing Errors & Omissions 4. Mortgage Errors & Omissions 5. “All Risk” Liability Policy flUTDmflTED SVSTEfTlS □F pungine. 301 N. Ankeny Blvd., Suite 220 Ankeny, la 50021 515-964-1358 CASHIER- small but very busy bank seeks strong operations officer. W ill also handle regulatory reports. Future advancement possible. . . . . . .$25,000 CORRESPONDENT BANKERsenior position available for strong commercial lender with seven-figure credit experience. Knowledge of agri-cred its hel pf u I................................................. $$Open To inquire, please forward full resume’ and salary history to: TOM HAGAN & ASSOCIATES of Kansas City P.O. Box 12346-2024 Swift North Kansas City, MO 64116 __________________ (816) 474-6874__________________ Vol. 9 No. 45 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address [Form 3579, manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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