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Vol. 11 No. 48 Des Moines, Iowa March 21,1983 How to Interpret Warning Signs T IM E L Y message on what to look for in deterioration of ac counts and how to interpret the sig nals that pop up is given by Patricia L. Smith, financial evaluation officer at U.D. National Bank of Portland, Ore. In a recent issue of Robert Mor ris Associates Commercial Lending Newsletter, the following comments were offered: OOD times may have caused many bankers to overlook the early warning signals of a deterior ating account. Even the most exper ienced credit professionals some times overlook warnings that ident ify a deteriorating account, accor ding to Ms. Smith. “Problems don’t develop overnight, but spotting ear ly symptoms of sick companies is easy if you know what to look for,’’ she says. Financial Statements “There are plenty of warnings in the financial statements,” Ms. Smith says. “Analysis of the statements might reveal such things as a com pany’s inability to generate cash in ternally and a disproportionate rise in expense items in relation to sales. Particular attention should focus on such items as the cost of goods sold, officers’ salaries, bad debt allow ances, and interest expense.” Ms. Smith suggests some ques tions lenders should ask themselves about the ability of the borrower’s A G Call our Bond Departm ent Getting it done for you. management to perform: “Are the year-end results close to projec tions? If not, does this imply man agement reacts rather than con trols? Has poor financial planning made it necessary to request emer gency loans to cover payroll or make trade payments? Has management made requests for working capital when long-term financing was need ed and vice versa? Is the company attempting to diversify without careful planning? Have there been frequent changes in management? Public Records Public records are also important to watch. They may reveal tax hens, judgements, and litigation with the borrower as plaintiff or defendant. UCC filings should also be checked to verify that loans are not secured with encumbered collateral, Ms. Smith suggests. Inquiries From Trade Suppliers “Other warnings come from trade suppliers,” she says. “Are you re ceiving an unusually large number of inquiries on a customer? Is slow ness in making payments being re ported? Have terms been changed to COD? Are you receiving inquiries for unusual purposes or for plans of which you were unaware?” Many in quiries involving small amounts and first orders may indicate that the borrower is changing trade sup pliers. Iowa News At their March meeting, members of the Iowa banking board approved an office for First Trust & Savings Bank of Cedar Rapids to be located in the 3400 block of F Avenue N.W. in that city. Tentatively, the board has sche duled four hearings in the next two months: April 20 on the application of Tom Steffens John Henderson Tony Paugoulatos V ice P resident 234-2462 V ice P resident 234-2463 Asst. V ice P resident Asst. V ice P resident 234-2647 234-2673 Jim McLaughlin Rick Patton John Shrader Bond R epresentative B ond R epresentative 234-2674 234-2877 Commerce Bank of Kansas City MEMBER FDIC V https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ms. Smith emphasizes that infor mation received during credit infor mation exchange that implies that an account is deteriorating should be reported to the account officer promptly. Sometimes the borrower can explain these signals, but, in other cases, paying attention to these warnings may allow early de tection of a deteriorating account. A Book That Can Help “Troubled customers will mean many inquiries from other business creditors,” Ms. Smith says. She adds that RM A’s publication, Infor mation on Deteriorating Accounts: Handle with Care, can help bankers better understand the issues involved in reporting problem accounts and enhance communications in this sen sitive area. “Although Information on Deteriorating Accounts does not provide any hard and fast rules for handling accounts with problems,” she says, “it will answer many ques tions that you may have, helping you to understand the issues involved.” 10th and Walnut (816) 234-2000 2 Estate Appraisals C ome to us we’re first in Iowa because we put Iowa first. IOWA-. Purchase of Collections Sale o f Rare Coins Reliable and respected service for over 20 years Bemie Kersey nesMOines M M NATIONAL BANK An A ffiliate o f N orthwest B an corporation M em ber FDIC LeMars Savings Bank to purchase and assume Farmers Savings Bank of Struble, both in Plymouth Coun ty. Henry Ahlers, president at Stru ble, is executive vice president of LeMars Savings. April 20 on an application of Dav enport Bank & Trust Co. to form a one-bank holding company. May 18 on the application of Pilot Grove Savings Bank to purchase and assume Citizens State Bank, both in Lee County. May 18 on application of Hawkeye Bank & Trust in Humboldt to purchase and assume Livermore State Bank, both in Humboldt County. * * * The Senate Commerce Committee on March 17 approved 6-4 a bill to Call (5 1 5 ) 2 4 5 -3 1 3 1 or toll-free (8 0 0 ) 3 6 2 -2 5 1 4 include S&L and credit union depos its in the 8% deposit limit on holding companies. It also would authorize interstate banking for con tiguous states (plus North Dakota) except Illinois, and would authorize deposit of public funds in S&Ls. ELDORA: Recent promotions at Hardin County Savings Bank in cluded the following: Jam es R. Brown to executive vice president in charge of operations; Keith M. Strother to senior vice presidentloans; Robert R. Hurst, senior vice president-installment loans; Ray Anderson, senior vice presidentmanager of Union and Liscomb branches, and Robert C. Bruns to assistant vice president-marketing. Nebraska News The Nebraska Bankers Associa tion will be holding its Ag Outlook Conference '83, March 30-31 at the Holiday Inn, Kearney. Added to the list of speakers for the conference is Jim Potter, ex ecutive vice president of MABSCO Agricultural Services, Inc. He is slated to speak Thursday, March 31, from 7:30-8:30 a.m. on M ASI. * * * ASK JERRY TRUDO to make MNB work for you. Toll free 1- 800- 332-5991 Merchants National Bank 151 Member F.D.I.C. A BANKS OF IOWA' BANK Used by bankers throughout the midwest Banco The Mid Plains Group of the Na tional Association of Bank Women will hold it ’s March meeting on Tuesday, March 22 at the Plaza Club in Omaha. Cocktails will be served at 5:30 p.m. and dinner at 6:30 followed by a panel discussion Ben E . Marlenee Coins 913 Locust Des M oines, Iowa 50309 515-243-8064 on “E state Planning, Wills and Trusts.” Panel members will include Ron ald G. Weber, senior vice president, First Northwestern Trust Co. of Nebraska; Stephen Lundholm, se cond vice president, Omaha Na tional Bank, and Barbara L. Hosford, attorney. The evening will con clude with the monthly business meeting. BRID G EPO RT: Richard A. Stull has been named president of the Bridgeport State Bank. He trans ferred from the Bank of Valentine where he served as executive vice president and cashier. Mr. Stull has been with the Abbott Banks for 19 years, starting at the Guardian State Bank in Alliance in 1963 and later with the Bank of Valentine in 1973. M ERRIMAN: Anchor Bank in Merriman has announced the promotion of Ted L. Bare to president and Gary Hastings to cashier. Mr. Bare joined the Abbott organization in 1959 at Bank of Chadron, moving to the An chor Bank in 1977. OAKLAND: Clyde “Case” Neu mann, 70, died recently from compli cations of Alzheimer’s disease. Mr. Neumann was a banker for more Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank i§l DES MOINES, IOWA 50304 A BANKS OF IOWA BANK Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MFHutton One Carriers Building Des Moines, Iowa 50309 Telephone: (515) 243-1203 NEW ISSUE We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: • $205,000 AUDUBON, IOWA General Obligation Bonds # DATED: April 1,1983 DENOMINATION: $5,000 Both principal and semiannual interest (June 1 and December 1; first coupon due December 1,1983) payable at the Office of the City Treasurer, Audubon, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITIES 8 .00 % $15,000 15,000 15,000 $15,000 $ 20,000 $20,000 June 1, 1984 June 1, 1985 June 1, 1986 7.20% June 1, 1987 6.50% June 1, 1988 6.75% June 1,1989 5.30 5.70 6.00 $25,000 7.00% June 1, 1990 7.00 $25,000 7.20% June 1, 1991 7.20 $25,000 7.40% June 1,1992 7.40 $30,000 7.60% June 1, 1993 7.60 6.20 6.50 6.75 LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH ATTORNEYS, DES MOINES, IOWA ^ ® £ The City of Audubon, the county seat of Audubon County, is located in the western portion of the State of Iowa, approximately 75 miles west of Des Moines. The City serves as a trading center for the prosperous surrounding agricultural area. Major manufacturers in the area in clude Audubon Publishing (newspaper and commercial printing); Audubon Ready-Mix (ready mixed concrete); Cam Ross Signs (advertising signs) and Talbot-Carlson, Inc. (livestock feeds and equipment). Transportation facilities are provided by the Iowa Railroad Co., U.S. Highway 71 and an excellent network of paved county roads. Interstate 80 is located approximately 17 miles south of the City. Commercial airline ser vice is available in nearby Des Moines or Omaha, Nebraska. Banking deposits during 1982 exceeded $62,084,000. These bonds are being issued to pay the costs of constructing necessary street improvements; for the purchase of street maintenance equip ment and to refund outstanding warrants issued as temporary payment thereof. FINANCIAL STATEMENT # Actual Valuation, 1982 Assessed Valuation, 1982 Net Direct Debt, including this issue Combined Net Direct & Overlapping Debt 0 Population, 1980 estimate: Net Direct Debt: Combined Net Debt: $49,065,555.00 36,333,226.00 633,000.00 668,516.00 2,841 $222.80 per capita $235.31 per capita The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not still be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 3-21-83 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The Level Playing Fie Ü m B A Price or Profit for Community Banks 1 ml ^ m April 18, 1983, Alameda Plaza Hotel, Kansas City, M O; May 2, 1983, Park Hyatt Hotel, Chicago, 1L ® 0 • * SEMINAR OVERVIEW SEMINAR SERIES A challenging day-long seminar outlining the opportunities for owners and managers of com munity banks faced with the product-oriented environment of a deregulated industry. With competition increasing on the “level playing field” created by the removal of differences with thrifts, money market funds, and others, the current issues facing bankers will be explored to provide the type of answers needed to determine values — both present and future. This year’s seminar is designed to also answer key questions facing chief executives as well as other professional managers and advisors. Each year, Swords Associates, in its seminar series, presents topics of timely concern to com munity bankers. By establishing a forum for the exchange of ideas, Swords creates the environ ment for authorities in the field to explore recent developments, offer useful advice, and in general provide the registrants with the significant facts and perspectives vital to area bankers. GUEST SPEAKERS The topics to be discussed include new legi slative and regulatory developments, the impact of the changing environment on earnings and growth potential of community banks, an exam ination of bank prices, and the role of large, multi bank organizations on the market for community bank stocks. Dr. Sheldon W. Stahl # 0 0 Banking economist who is Senior Advisor for Economics with Midwest Research Institute of Kansas City, Dr. Stahl is a widely known and popu lar business and banking affairs commentator and author After 15 years with the Federal Reserve, Dr. Stahl became Deputy Governor of the Office of Finance and Research of the Farm Credit Administration. He is also former Director of Economic Studies of the $2-billion Williams Companies. Dr. Stahl has a clear and cogent view on the “level playing field,” its problems and its opportunities. As our keynote speaker, Dr. Stahl will also provide views on both the national and regional economic outlook. John McCarthy • 0 Regional Director of Special Projects for the Seventh National Bank Region, Chicago, Mr. McCarthy has gained wide respect for his handling of problem bank affairs. He will address the issues now facing bank executives through the perspective of his recent experience. The toler ance levels of the regulatory agencies will be explored as relating to the deregulated environ ment. SWORDS ASSOCIATES.INC. PROFESSIONAL BANKING CONSULTANTS https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis This year, the seminar is centered around the “level playing field” —the new “product” environ ment, the removal of differences between banks and thrift institutions, money market funds, and other aspects of the changing climate. On hand this year will be economist Sheldon W. Stahl. Among the most respected in his field, Mr. Stahl will offer his observations of the changing banking environment, the “level playing field,” and the econom ic outlook—both regional and national. And the regulatory view this year will be handled by John McCarthy, Regional Director for Special Projects out of the Seventh National Bank Region, Chicago. A highly regarded workout specialist, he is expected to provide real insight into the methods being used by the nations lead ing bank regulator in keeping problem condi tions under control as legal restraints are loosened. The timeliness of the topic, and the coherent, practical nature of the seminar—which results in understandable and pragmatic perspectives as to the requirements and remedies for community bank owners—will make this year’s pricing semi nar an event not to be missed. Supplement to Northwestern Banker Newsletter, March 21, 1983 The Level Playing Field k \V A Price or Profit for Community Banks X PROGRAM HIGHLIGHTS ACCO M M O D ATIONS Blocks of rooms have been reserved at the Alameda Plaza Hotel on the Country Club Plaza in Kansas City, Mo., and the Park Hyatt Hotel on North Michigan Avenue in Chicago. Room reservations should be made directly with the hotel in either city; be sure to mention that you are attending the Swords Associates seminar. Payment for accommodations is the sole responsibility of the registrant and must be handled directly with the hotel. Register by March 28, 1983 to assure room accommodations for the Kansas City seminar. In Chicago, your reservation should be received no later than April 11, 1983. Toll-free numbers for room reservations are: Alameda Plaza Hotel, Kansas City: 800-8215 5 0 2 (in Missouri call 8 0 0 -8 9 2 -5 9 9 0 ). Park Hyatt Hotel, Chicago: 8 0 0 -2 2 8 -9 0 0 0 . The New Playing Field: How Level is it? (Sheldon W. Stahl) Coming Changes in Earnings and Growth Prospects Legislative and Regulatory Developments Yet to Com e After Penn Square: A New Perspective (John McCarthy) How Are Bank Sales Happening? The Meaning of Today’s Bank Stock Prices (New Slide Presentation) SWORDSASSOCIATES.INC. PROFESSIONAL BANKING CONSULTANTS 4900 OAK SUITE 301 KANSAS CITY, MISSOURI 64112 (816) 753-7440 REGISTRATION FORM Fourth Annual Bank Pricing Seminar PROGRAM REGISTRATION FEES RETURN WITH CHECK TO (Please check which seminar you will attend) □ Kansas City: $240; $195 each additional person from same organization. □ Chicago: $295; $ 2 4 0 each additional person from same organization. (A $25 handling charge will be withheld for cancellations.) Enrollment is limited. Applications accepted in order received. SWORDS ASSOCIATES, INC. 4 9 0 0 Oak Street, Suite 301 Kansas City, Missouri 6 4 1 1 2 (816) 7 5 3 -7 4 4 0 Name Ik Title (Please Print) Organization Mailing Address HOTEL ACCOM M ODATIONS Ofy Please make your own arrangements with the Alameda Plaza Hotel in Kansas City or Park Hyatt Hotel in Chicago. S ee details above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis State zip 3 CALL ON THE “PERFORMANCE TEAM” where com m on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. SERVING PROFESSIONALLY Count on Ken Roeder. Banking, Financial & Business Personnel Iowa and Nationwide For the best in ag overline, data process ing and cash management services, along with expert advice and guidance, call Security Correspondent Bank Officer Ken Roeder at 712/277-6554. CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 than 50 years and served as presi dent of Farmers and Merchants Na tional Bank until 1977, continuing to serve as chairman of the board for several years. The family banking business was started by Mr. Neu mann’s grandfather, Valentine Neu mann, in 1892. W ISNER: Barton J . Gotch has joined The Citizens National Bank of Wisner. He was graduated from Wayne State College in 1982. Minnesota News M INNEAPOLIS: At National City Bank of Minneapolis, John F. Crinklaw was named senior vice pres ident-credit and deposit manage ment, and W. Randall Payant, assis tant vice president, was named group head of group B-commercial and industrial relationships. T H IE F R IV E R FA LLS: The North ern State Bank has announced that Fred Dallmann has rejoined the staff as vice president. He previous ly was with Arctic Enterprises for four years, after being with North ern State Bank for 10 years. Illinois News Jam es W. Civik has been appoint ed director of communications and marketing for the Illinois Bankers Association. Mr. Civik has been on the IB A staff for three and one half years and Ag Banking People Specialists Hire Better...Faster... Easier! Call without cost or obligation to find out who is available. Confidential. Employers have been paying us to find the people they need since 1968. Phone our banking specialist: Linda at 515/394-5827 or Jeannie at 515/263-9598 (If no answer 712/779-3567) I NATIONWIDE aqnc4RSRS,iNC. m J THE ORIGINAL AGRICULTURAL RECRUITER New Hampton, IA 50659 or Massena, IA 50853 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis SECURITY N A TIO N A L BAN K Sioux City, Iow a 51101 M em ber F.D.I.C. has held the positions of assistant director of education, director of education and director of banking professions. RO SELLE: Harriet M. Tedrahn, formerly vice president, has been promoted to senior vice president, and Gary E. Logan, controller, has also assumed the position of vice president, at Roselle State Bank. Ms. Tedrahn started with the bank in 1959 and Mr. Logan joined in 1973 as auditor. North Dakota News the First State Bank of Shelby as vice president. He will be handling agricultural and commercial loan lines as well as other administrative duties. Mr. Taylor formerly was vice president of the Citizens Bank of Montana in Havre, having been em ployed there for 21 years. W IBA U X: Arley Helvik has been promoted to president of The First National Bank & Trust of Wibaux. Mr. Helvik joined the bank in 1963, was named cashier in 1967 and vice president in 1971. When the bank was sold in 1978, he was elected to his most recent position of executive vice president. BISM ARCK: Bismarck State Bank has promoted Mary Ann Nordaby to vice president and commercial loan Wyoming News officer, and Lee Fischer has been named an assistant vice president CHEYENNE: Bernard Weber, chair man of First National Bank and and instalment loan manager. Trust Company, died earlier this month from a heart attack. Mr. Montana News HAVRE: Paul G. Hoffman has been Weber, 62, started in the bookkeep elected executive vice president and ing department of First National senior lending officer of Citizens Bank and worked his way up to pres Bank of Montana. Mr. Hoffman ident in 1972. After retiring as presi started his banking career in 1969 dent in 1982, he remained as chair and has held positions at banks in man of the board. Mr. Weber was a Lewistown, Great Falls and Helena past president of the Wyoming Bankers Association and was active before joining the Havre bank. in professional banking organ SH ELBY : Budd Taylor has joined izations. An important new profit center for your bank: - F wmwm L t^ ® ■ Contact: Leroy Bell or a com pu terized local billing/credit service Milt Hennick 319-291-5412 National Bank of Waterloo 315 East 5th St • Waterloo. IA 50704 ' M _ . mir Member Federal Reserve System FDIC WANT ADS Rates are $5.00 per Iine per i nsertion. Add $3.00 for fi le letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER, 30615th Street, Des Moines, Iowa 50309. Phone 515/ 244-8163. POSITION AVAILABLE Affiliated Midwest Bancs, Inc., a progressive group of six banks, is looking for an AGRICULTURAL LOAN OFFICER for its bank in Boone, Iowa. Prefer 3-5 years agricultural bank loan experience. Salary commensurate with ex perience. Send resumes c/o Robert Scott, president, Boone State Bank & Trust Co., P.O. Box 428, Boone, Iowa 50036. (PA) PRESIDENT • AGRESSIVE MANAGER wanted to build a small, farm-oriented bank in central South Dakota. Send resume to file RBZ, c/o Northwestern Banker. (PA) AG LOAN OFFICER—Progressive $40 million bank in eastern South Dakota needs experienced officer. Send resume to file TBA, c/o Northwestern Banker. (PA) Northcentrai South Dakota bank, $11.6 million deposits, needs NUMBER TWO MAN with potential to become presi dent in two to three years. It is very active small communi ty. Must have all phases of banking, agriculturecommercial lending and operations experience. Contact Boyd D. Hopkins, Jr., President, Live Stock State Bank, 100 East Havens & Main, Mitchell, So. Dak. 57301. Phone 605/996-7775. (PA) OPERATIONS OFFICER—$40 million bank in eastern South Dakota in need of operations officer with ex perience in Burroughs Computers and Info-tech Software. Must be ambitious and agressive. Send resume to file TBC, c/o Northwestern Banker. (PA) EXECUTIVE BANK RECRUITING We'll prove that we’re the right search firm for you ... Time and time again. R.E.B. & Associates Executive Search Consultants 13425 A. St., Omaha, Nebraska 68144 Phone: 402/3334248 or 333-6604 POSITION WANTED University of Nebraska-Lincoln senior graduating in May with a B.S. in Agriculture, major Ag Economics, desires position leading to an ag loan officer. Has been very active in university clubs, a scholarship winner, excellent com munication skills, and experience with computers. Has farm background and full time work experience with soil conservation offices in four Nebraska counties. Willing to relocate, available June 1,1983. Contact Rita Glaser, Box 279, Spalding, NE 68665. (PW) Forty-one year old man with bank examining, banking and heavy ag experience looking for responsible AG POSITION in a bank. Write file TBI, c/o Northwestern Banker. (PW) CASHIER, married, age 31, with nine years experience desires new challenges with a progressive midwest bank. Currently in charge of operations, personnel, and invest ments of a $45 milliorl bank. Very strong in data process ing and familiar with microcomputers. Has some lending experience to supplement operational background. Posseses college degree along with advance banking degree. Contact file TBG, c/o Northwestern Banker. (PW) LOAN OFFICER for $30 million bank in north central Iowa. Advancement possible. Three to seven years experience needed. Salary commensurate with experience. Write file TBE, c/o Northwestern Banker. (PA) PRESIDENT—$24 million bank in south east Iowa. Must have lending background and ability to produce a high per formance bank. Contact: Larry Wenzl, P.O. Box 1622, Des Moi nes, Iowa 50306. Phone: 515/244-5111. (PA) Immediate opening for AG LENDING OFFICER with two years experience. $100 million SE MN bank. Excellent benefits and salary commensurate with experience. Send resume to file TBH, c/o Northwestern Banker. (PA) Position open for a JUNIOR COMMERCIAL LOAN OFFICER with three to five years of commerical loan ex perience. Bank located 35 miles from Minneapolis area. Salary commensurate with experience. Excellent oppor tunity for advancement. Send resume to file TBF, c/o Northwestern Banker. (PA) SKI THE SUMMIT! Call me Toll Free to discuss our 1983 Building Plans. DWAYNE SMITH Phone 1-800/922-2590 Paradise Properties, Box S Dillon, CO 80435 POSITIONS AVAILABLE Correspondent Officer for major midwest bank. Must be ag-oriented and have knowledge of operations and loans. Advance degree preferred..............................Salary Open Correspondent Officer for Upper Midwest bank. Must have good knowledge and bank lending background.................. .......................................................................Salary Open Senior Ag Lender for major midwest bank. Require eight or more years experience and college degree . . . Salary Open Commercial Lender for Illinois community bank. Some knowledge of operations helpful.................... Salary Open Commercial Lender for large Nebraska community bank. Bank experience and college degree required Salary Open Ag Lender for northwest Iowa bank. Degree from Iowa State or comparable degree required......... Salary $25,000 Ag Lender for N. Illinois bank located in scenic area......... .......................................................................... To $25,000 Ag Lender for major eastern Iowa b a n k......... Salary Open Office Manager for major western Iowa bank. Requires some bank or PCA lending experience........Salary $18,000 Write or call Malcolm Freeland, Freeland Financial Ser vice, Inc., 1032 Carriers Bldg., Des Moines, IA 50309. Phone 515/282-6462. We have many other jobs available. Employer pays fee. BANKERS AVAILABLE CEO—now heading $20 million community bank - seeks new situation due to sale of bank......... Salary Negotiable. CEO—now heading $60 million bank - seeks new situation in midwest that offers greater challenge .. .Salary Negotiable. Senior Ag Lender with solid lending record and Iowa State degree wants to relocate to a progressive independent bank. Could be strong second man..............Salary $38,000 Commercial Lender with marketing background and MBA wants to relocate in eastern Iowa or Illinois.Salary $38,000 Commercial Lender with big bank experience and ex cellent education wants to relocate in Colorado or Moun tain States ................................................... Salary $35,000 Commercial Lender with multi-bank holding company wants to relocate in Illinois, Wisconsin or eastern Iowa . . . ......................................................................Salary $32,000 Auditor for Multi-bank holding company seeks position with more challenge.................................................. Salary$25,000 Junior Ag Lenders available at salaries ranging to $23,000 Write or call Malcolm Freeland c/o Freeland Financial Ser vices, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Please let us know your specific needs. We have many applicants who will not answer “ blind ads.” Employer pays modest fee. COMMERCIAL LOAN OFFICER Must have a minimum of three years commer cial lending experience, preferably in a commer cial bank. Position requires a working knowledge of state and federal laws and regulations as they relate to banking. Responsibilities will include originating, negotiating, servicing, supervising and collecting loans. Excellent benefits and salary commensurate with experience. All inquiries will be kept in strict confidence. Contact Lois Kriebs, Asst. Vice Pres., Person nel, 515/245-6142, for an interview, or send resume to the Personnel Department. VALLEY NATIONAL BANK 6th & Walnut Sts. P.O. Box 906 Des Moines, Iowa 50304 An Equal Opportunity Employer 3 window solid walnut teller counter, with marble deal plates, completely wired, 6' side counter, and connecting gateway. Excellent condition. Available 2-15-83. Contact Alan B. Fender, Valley National Bank, Hamburg, la. 51640. Phone (712) 382-1212. (FS) LeFebure Ext. Flush Walk-Up Window: Model FW-8460, complete with window, heater, sound and drawers. LeFebure Int. Flush Walk-Up Window: Model BK-3340, with 5' window, storage pedestal, forms organizer, and 5' L shaped counter top. Both in excellent condition and under continuous maintenance. Call Randy Davis, Hawkeye Bank & Trust, Mason City, Iowa. Phone (515) 423-2457(FS) NCR COMPLETE SYSTEM FOR SALE: NCR 279-300 on-line teller machines, with 751 concentrators, 796-301 CRT’s, cables and J-boxes. WILL SELL AS PACKAGE OR IN DIVIDUALLY. NCR SORTER: Model 6770. (14) pocket. 1200 dpm. Available mid-March. Best offer. Under continuous maintenance. PITNEY BOWES Mailing Machine and Scale. $1,500 or Best Reasonable Offer. Call Jody Van Dyke at 512/250-0794. (FS) Rare opportunity to acquire superb site for new branch or main banking house in Omaha corporate limits in S.W. Omaha. 2.2 & 5.4 acre level sites available. Call Brian Schmid (402) 397-0864 or Realty Group & Trust (402) 592-3600. (FS) Mr. Banker: It’s Our Business To Help Your Retailer’s Business! Generate Instant Cash From Inventory We are specialists in: •Instant Cash Raising Sales •Inventory Reduction Sales •Going Out of Business Sales •Store Management Consulting •Profitability Research •All Types of Special Promotions CAPITAL PROMOTIONAL SERVICES F.O. DAVIS & ASSOCIATES 1105 State St. Tama, IA 52339 515/484-2479 ITEMS FOR SALE Bell & Howell Microfilm Reader UV-40......................... $200 1 Microdesign Microfiche Viewer single carriage model C.O.M. 150......................................................................$50 1 Microdesign Microfiche Viewer single carriage model C.O.M. 200......................... $50 1 NW Microfiche Viewer single carriage model N.M. 1.75 .. .......................................................................................$50 12 NCR Full keyboard adding m achines..................$20ea. Well sell any item separately. Contact Timothy J. Byrnes, Vice President and Cashier, Union State Bank, Winterset, Iowa, (515) 462-2161 POSITIONS AVAILABLE MARKETING OFFICER—develop investment center con cept and new products for $50MM progressive community bank. $Open COMMERCIAL LOAN—$60MM suburban bank seeks sen ior officer to assume management of loan portfolio and administrative duties. $45,000 PRESIDENT—strong commercial lender with “ work out” loan experience for $40M M community bank. $Open COMMERCIAL LOAN—manage dept, for $80MM bank. Both commercial and ag lending experience desired. $40,000 C.E.O.—$12MM rural bank close to larger community. Background ag lending required. $35,000 OPERATIONS—handle operations, audit and compliance duties for $30MM community bank. Accounting degree preferred. $32,000 AGRI-LOAN—senior position with $90MM bank. Degree and experience with large agri-credits desired. $40,000 ASS’T. CONTROLLER—work with taxes, budget controls and costing of new products for $300MM S&L association. Accounting or finance degree required. $25,000 Variety of additional positions available. All inquiries con fidential. TOM HAGAN & ASSOCIATES of Kansas City 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 11 No. 48 Northwestern Banker Newsletter (USPS 873*300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 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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