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Administration Opposes Financial Bill If- V > t cV 4 / *-*V* *^14 Commercial bankers may have gained a strong ally in resisting passage of the Financial Institu tions A ct by the House of Repre sentatives. The Ford administra tion is strongly opposed to merging the three federal bank regulatory agencies. D eputy Treasury Secretary George Dixon told a House sub committee that the administration believes “ now isn’t the time to reorganize or consolidate our (bank) regulatory agencies.” Mr. Dixon also opposed some other provisions of proposed legis lation that would reshape the nation’s financial institutions. A key feature of the bill, being considered by the House Banking subcommittee, would consolidate into one agency the Office of U. S. Currency Comptroller, the Federal Deposit Insurance Corp., and the bank supervision division of the Federal Reserve Board. The Cur rency Comptroller oversees federal ly chartered banks, the FDIC regulates state-chartered banks and mutual savings banks and the Fed oversees bank holding com panies and banks that are members of the reserve system. Mr. Dixon, former chairman and president of the First National Bank of Minneapolis, said the proposed legislation would concen trate supervisory control of more than 80% of banking assets in a single agency. He contended such concentration might “ inadvertently G E O R G E D IX O N weaken or impair the dual banking system” that regulates state and national banks separately. He said that serious questions need to be studied carefully in an atmosphere free of the heat and emotion of the moment, a reference to recent articles about problem banks and charges of lax supervision by bank regulators, notably Currency Comptroller James Smith. Public Confidence Mr. Dixon said it isn’t necessary to “ rush hastily” into a reorganiza tion, as “ the walls aren’t tumbling down. “ Over the years, losses to depositors have been nominal and in the case of recent bank failures such losses have been nonexistent,” he said. “ Public confidence in the banking system remains strong.” The Treasury officia l urged Congress to strengthen the bank regulators’ enforcement powers. He called for legislation permitting acquisition of a problem bank by an out-of-state bank holding com pany, increasing the penalties against banks that violate orders from the agencies and making it easier for the agencies to remove officers and directors of troubled banks. He also said he favors legislation that would limit loans to bank officers, directors and other insiders and that would permit the agencies to order a bank holding company to divest itself of a bank. Close Contact Mr. Dixon also said the admini stration opposes separating the Reserve Board’s responsibility for bank regulation and examination from its responsibility for setting monetary policy. “ A continuing, day-to-day contact with banks throughout the country through the regulatory process gives the Federal Reserve both an apprecia tion of and an ability to influence banking developments,” he said. The White House, Mr. Dixon said, also would like to see other changes made in the pending FINANCIAL B ILL ____ [Turn to page 3, please] V i ■r CALL ON THE “PERFORMANCE TEAM” >* where common transactions j£. are handled uncommonly well. 1■ ■ V ili FIRST N A T IO N A L L IN C O L N https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. Service innovations are our business. W hy not make them yours? Iowa-Des Moines National Bank i Bob Buenneke MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION Iowa Transfer System Meetings This Week Iowa Department of Banking since 1969, A series of eight meetings will be held around Iowa this week to explain the Iowa Transfer System. All meetings will start at 5:00 p.m. The business meeting follows a social hour and dinner. Mar. 22—Ramada Inn, Waterloo Mar. 23—Hilton Inn, Sioux City Mar. 24—Holiday Motor Lodge, Clear Lake Mar. 25—Ramada Inn, Council Bluffs Mar. 29—Holiday Inn, Cedar Rapids Mar. 30—Julien Motor Inn, Du buque. Mar. 31—Holiday Inn, Burling ton April. 1—Hyatt House, Des Moines CARLISLE: Robert C. Wims has been appointed vice president of the Hartford-Carlisle Savings Bank. Since June of 1972 he has been associated with the Iowa State Department of Banking Iowa News B E L L E P L A IN E : Steven L. Jacobson will join the Citizens State Bank on April 1 as vice president. He has been with the Call your roving correspondent at Bankers Trust DES MOINES: Northwest Des Moines National Bank has changed its name to Northwest Brenton National Bank. MANCHESTER: Russell Stark has joined the Farmers and Mer chants Savings Bank as vice president and instalment loan manager. He has served as manager of American Finance here for the past 10 years. OTTUMWA: Funeral services were held last week for Herman Leon Yates, 58, and his wife, Veola, 59, of Ottumwa. The couple was killed by an Amtrak train near Osceola. Mr. Yates was a substantial stock holder in the First National Bank of Ottumwa. He owned Douds Stone, Inc., a quarry operation near Douds, and more than 20 cement plants in Iowa and Missouri. SIOUX CITY: Tom Horn, execu tive vice president of Security National Bank, has announced that he plans to take early retirement from the bank, effective September 1. He also has served as a director. Nebraska News COLUMBUS: An application by A good! correspondent! bank relationship® is still built by good people. Yours and ours. Use our toll-free WATS line: 800-362-1688 Member: F.D.I.C./Federal Reserve System https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mark Christen Assistant Cashier CBT Co. here to become a bank holding com pany through the acquisition of 80% or more of the voting shares of Citizens Bank & T rust Com pany has been approved. FALLS C ITY: First National Bank has received the authority to exer cise trust powers. Merle L. Veigel has been appointed trust officer in charge of the bank’s new trust department which will include Rodney Vandeberg and Edgar Roesch. Gus Scholz, chairman of the bank, also was named trust officer. All four will serve as members of the bank’s trust committee. The bank also an nounced that it has changed its name from The First National Bank of Falls City to First National Bank and Trust Company. KILGORE: Farmers State Bank has announced the following pro m otions: K . W . Peterson to chairman, R. L. Hand to president and managing loan officer, John S. Osterman to vice president and cashier and D avid M acy to assistant cashier. ROSELAND: Dick Gilbert has joined the Roseland State Bank as cashier. He formerly was assistant cashier of the City National Bank of Hastings. i. -< m ■W ■<t &y V Minnesota News The following banks have in creased their capital stock: by stock dividend—State Bank of Gibbon from $60,000 to $75,000, State Bank of Morgan from $75,000 to $150,000, Annandale State Bank from $100,000 to $300,000; by sale of new stock—State Bank of Wen dell from $100,000 to $125,000, First State Bank of Sauk Centre from $100,000 to $250,000 and Victoria State Bank from $37,500 to $46,500. Call me toll free . . . 800 332-5991 - Merchants gfifc National Bank 151 C edar Rapids. Iowa 52401 A 'B A N K S O F IOW A B A N K K. A>- 4 O y 24 Hour Toll Free Telephone Service Weekly Confidential Market Report Marketing Seminars conducted for Clients in Your Area WRITE OR CALL FGL. 1200 35th St. West Des Moines. Iowa 50265 515 223-2200 FRIDLEY: Fridley State Bank has promoted Michael W. Belch to vice president and cashier and Kurt A. Schrupp to assistant vice presi dent. CLOQUET: City National Bank has announced the promotions of Arlen B. Lund to assistant cashier and Joan A. Hopp to instalment loan officer. y MINNEAPOLIS: A charter has been issued to Union State Bank of Minneapolis at 312 Central Avenue N.E. The bank opened for business March 15 with capitalization of $1,500,000. Officers are Harmon T. Ogdahl, president; Warren C. Leininger, vice president, and Earl B. Doble, cashier. WABASSO: Orville Winter has joined the Wabasso State Bank as cashier. He formerly was associated with the First National Bank of Glencoe. WACONIA: Dave Gustafson has joined the First National Bank as instalment loan officer. He replaces Roger Wichelman who was pro moted to head cashier. W ILLM AR: Randal Petersen has been promoted to assistant cashier and auditor at the Bank of Willmar and Trust Company. w-r Illinois News ALSIP: A charter has been issued to the First State Bank, 11346 South Cicero Avenue here. The state bank’s total capitalization of $1,750,000 will consist of $700,000 in both capital and surplus and $350,000 in reserve. Officers are Mace Rubenstein, chairman; John Corneliuson, president, and Harold D ykstra, vice president and cashier. H AVANA: The State Bank of Havana has been issued a state bank trust certificate of authority. Gordon Brown has been named executive trust officer. South Dakota News CLEAR LAKE: Dale Teich has been named executive vice presi dent and chief executive officer of the Deuel County National Bank. IRENE: Robert Dean Satter has joined the Farmers State Bank as assistant cashier. He formerly was bank examiner with the Federal Deposit Insurance Corporation. Wyoming News CHEYENNE: Stephen H. Bran dom has joined the American National Bank as vice president in charge of the real estate loan department. He formerly was Lt. Commander in the Navy Reserves. CHEYENNE: Cheyenne National Bank has announced the promo tions of Robert Sutter to senior vice president, Benita Thompson to auditor and Johnny G. Horne to loan officer. Montana News HELENA: The Montana Bankers When you need a little help Iw m i ■ ■ M W itk n r Æm call us on our toll free wats number Correspondent Bank Department 800-362-1615 “C " Central National Bank & Trust Company EDD1E A. WOLF WILLIAM B. GREAVES RUSSELL G. GREGORY S. GERALD B. PLAGER WOLFE MURPHY DES MOINES (515)243-8181 MEMBER FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * * LOCUST AT SIXTH /FIFTH & GRAND / 35TH & INGERSOLL / WEST DES MOINES Association has moved its head quarters to the fourth floor of the Arcade Building here. FINANCIAL B ILL .......................... [Continued from page 1] legislative proposals. He said the administration wants all financial institutions to be permitted to offer checking accounts that pay inter est. The House committee pro posals would permit savings and loan associations, savings banks and credit unions to offer checking accounts except in those states that forbid it. The White House also is against a provision that would modify the current 0.25 percentage point differential between the interest rates that thrift institutions may pay on savings deposits and the rates commercial banks may pay. The bill would let banks pay the extra 0.25 point if they maintain a certain percentage of their assets in mortgages. Mr. Dixon said the Ford admini stration doubts that using the differential “ as an incentive to provide funds for housing will succeed.” And he urged Congress to phase out the present differential over the next bVi years. SERVICE WITH NO SMILE. All our computer knows how to do is work. Quickly. Efficiently. But no smile. Bill Rickert and Ken Young are the ones who smile. Especially when they’re showing somebody how our straightfaced computer works. Call Bill or Ken today. 1-800-772-2411 National Bank of Vtäterloo COULSON CANNON AND LEWIS Three of our men on your side at V 4 Fred N . Coulson, Jr. ^ 234-2479 Tom C . Cannon 234-2481 C ommerce Bank M e m b e r FDIC WANT ADS Rates 35 cents per word per insertion. Minimum: 12 words NORTHWESTERN BANKER 30615th St., Des Moines, Iowa FOR SALE Burroughs Sensimatic Posting Machines - one F6200 and two series 200. Contact: Citizens State Bank, Clarinda, la. 51632. Telephone: 712/542-2121. Lease or Sell—Pre-constructed bank buildings with choice of bank equipment. Not a mobile home. SON Bank Systems, Box 684, Wichita, Ks. 67201. Phone: 316/942-8167. FOR SALE One AM Electrostatic Copier - paper and 2 cartons replenisher. Contact: Citizens State Bank, Clarinda, la. 51632. Tele phone: 712/542-2121. BANKERS PERSONNEL, INC. Bankers Personnel serves banks and bankers in the Upper Midwest (a ten state area). The positions listed below are just a sample of the many opportunities available. Contact us in complete confidence. T elephone (816) 234-2000 SERVING PROFESSIONALLY POSITION AVAILABLE Commercial loan officer with some commercial lending experience for a $40MM bank and member of Hawkeye Bancorporation. This person should be able to assume second position in a member bank within three years. Contact: Larry Wenzl, president, First Federal State Bank, Des Moines, Iowa 50311. CAPITAL PERSONNEL SERVICE 2 04 Securities Bldg. 515— 283-2545 Des Moines, Iowa 50 3 09 FOR SALE Manganese steel safe, 472’ high, 272’ wide, 3 timers. Contact: Bush & Roe, Inc., Plainview, Nebr. 68769. Phone: 402/582-4818. POSITION WANTED Young, aggressive with 12 years management, 7 years lending exper ience. Has capital in 6 figures to invest and be working stockholder. Interested in Wyoming, Montana, Colorado. Write Box UTU, c /o NORTHW ESTERN BANKER, 306 15th St., Des Moines, Iowa 50309. POSITION AVAILABLE Individual with consumer loan exper ience and desire to learn all facets of banking in community bank in Des Moines vicinity. Write Box UOU, c/o NORTHWESTERN BANKER, 306 15th St., Des Moines, Iowa 50309. by W tsffi d n te ile d tyeivleeb, d n r. 545- 31st Street Des M oines, Iowa 50312 “ DICK" SELLON "D U A N E " DEVAULT BANKERS WANTED BANKERS PERSONNEL, INC. Charles E. W alters Co., Inc. I “IT TAKES A BANKER TO KNOW O NE” P O Box 1 3 1 3 . O m aha. Nebraska 6 8 1 0 1 Phone ( 4 0 2 ) 5 5 3 - 6 4 0 0 I TOM HAGAN & ASSOCIATES I G I Q l w ould like to sell my m ajority bank stock. | w ould like to buy m ajority bank stock. I | | Please Contact J M ason Henry. President I m m POSITION WANTED Aggressive 25 year old man is interested in learning banking for a smaller nondepartm entalized agricultural bank. Have a strong background in agriculture and a B.S. in animal science. Available for an interview or credentials will be sent upon request. Contact: Charles Wilgenbusch, R. R. #2, Winthrop, la. 50682. Phone: 319/934-3788. FOR SALE Master card file for 20,000 4” x 6” index cards. Presently used for Arans account numbering file. Roll back top with lock. Excellent condition—$500. Call 319/2351431. Ext. 215. r- — “ — — — — — — — — — — -i V BANKERS PARTICIPATING f a t t A e P ld H Ins. Agency Mgr.— Manage bank insurance agency. Licensed in all lines. Minnesota. $13,000. Job #736. Lending Officer— Variety of lending duties. Experience in instalment, commercial and ag. Wisconsin. $15,000. Job #823. Second Person— Heavy experience in all areas of bank ing. Strong commercial lending background re quired. Take over management in future. Illinois. $17,000. Job #838. Commercial Lending Officer— Strong in commercial credits, statement analysis and credit operations. South Dakota. $22,000. Job #821. Trust Officer— Head up trust dept, and work with affiliate banks. Law degree helpful. $25,000. Job #841. Correspondent Banking Officer— Familiar with country banking. Willing to travel. Nebraska. $20,000. Job #824. National City Bank Building, Suite 719 75 South Fifth Street Minneapolis, Minnesota55402 (612) 340-3018 A POSITION WANTED May, 1976, UNI graduate school of business would like trainee position in small rural bank. Write Box URU, c/o NORTHWESTERN BANKER, 306 15th St., Des Moines, Iowa 50309. Banking, Financial & Business Personnel Iowa and Nationwide ROUND VAULT DOOR FOR SALE Round Mosler vault door and day gate. 4 time clocks. 7’ circular front opening. Door measures IOV2 ” thick. Unique. Mosler does not make any more. For further information, contact: Darold Peterson, Bank of Minneapolis, 809 Nicollet Mall, Minneapolis, Minn. Phone: 612/340-5508. Edwin B. Lewis 234-2625 JUNIOR AGRI LN— Several places in the mid west for people with 1-2 yrs. bank e xp er... .$12,000 INSTALLMENT LN— Need 3 junior officers (to $12,000) and 1 senior officer t o .....................$16,000 PLATFORM— (Loan & operations experience) several places In Neb., la. & Mo............... $12-15,000 SR. COM’L LN— Dept, head, Mo..........................$25,000 MATURE EXEC. V .P .—To teach 2 sons of owner of $12MM Ks. b a n k .............................$18,000 CASHIER—With good personnel experience of $30MM Ks. b a n k ............................................. $17,000 JR. AUDITOR— Iowa and M issouri.................... $12,000 TRUST OFFICER— Establish and supervise trust services for four small related Iowa banks. Excellent spot for someone ready to retire to the country.........................................$18,000 Box 12346, N.K.C., Mo. 64116 (816) 474-6874 Vol. 4 No. 47 Northwestern Banker Newsletter is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $6 per year. Second class postage paid at Des Moines, Iowa. Address all https://fraser.stlouisfed.org mail subscriptions, changes of address (Form 3579) manuscripts, mail items to above address. Federal Reserve Bank of St. Louis A- •1**r
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