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Vol. 12 No. 49

Des Moines, Iowa

March 26,1984

IB A A O ffers Farm Policy Proposal
GRICULTURE would directly overvalued, which is devastating to
benefit from reduced Federal farm exports.
“ The only apparent way out of
budget deficits and future farm pro­
grams must be “ lean and efficient,” this dilemma would involve credible
it was stated in testimony offered re­ action which begins to reduce the
cently at a House Agriculture Com­ projected Federal debtload. IB A A ’s
mittee hearing by Nebraska banker position is that all federal expendi­
Thomas H. Olson. He was testifying tures including entitlements and
at the opening Agriculture Commit­ defense programs, as well as tax
tee hearings on future farm policy. policies, should be carefully review­
Mr. Olson is chairman of the Agri­ ed by the Administration and Con­
culture-Rural Committee of Inde­ gress on a bipartisan basis to reduce
pendent Bankers Association of the budget deficits,” Mr. Olson said.
Regarding farm policy, Mr. Olson
said budget restraints will necessi­
tate a “ lean and efficient” new farm
policy which can prevent the re­
building of surplus inventories of ba­
sic farm commodities until export
markets recover. He presented a
farm policy proposal developed by
IB A A which would give the Secre­
WA^S-H INGTON,D.C ^
tary of Agriculture discretionary
K
new authority temporarily to:
(1) require production or market­
America and also is president of the ing controls based on a majority ref­
erendum of producers; and
Lisco State Bank in Lisco, Nebr.
Mr. Olson said that reviving an
(2) pay export price incentives
“ upward trend in farm export mar­ through private exporters in order
ketings” was the most efficient way to maintain U.S. market share in
to improve farm cash flow, but that world agricultural trade whenever
the overvalued U.S. dollar is pricing required production controls are
our farm products out of export mar­ used in the United States.
Mr. Olson also recommended that
kets. He said the budget deficits pre­
sent a policy dilemma between an updating of farm policy include
equally bad results of either re-ignit­ major emphasis upon soil and water
ing inflation or keeping the dollar conservation practices, multi-pur-

pose crop insurance, and steps to im­
prove farm stabilization policies and
concurrently reduce reliance upon
“ soft” credit from the Farmers
Home Administration as a substi­
tute for inadequate net income from
farming operations. □

Iowa News
Tom Huston, Iowa superinten­
dent of banks, is asking the Eighth
Circuit Court of Appeals in St. Louis
to overturn the Federal Reserve
Board of Governors recent approval
of the application of First Bank Sys­
tem of Minneapolis to acquire 21%
of the stock in Banks of Iowa hold­
ing company, which is headquar­
tered in Des Moines. Mr. Huston’s
suit states that the transaction vio­
lates Iowa law precluding such pur­
chases by out-of-state firms.
* * *
The April meeting of the North­
west Iowa Group o f the National A s­
sociation of Bank Women will be
held April 11 at 5:00 p.m. at the Em­
met sburg Country Club in Emmetsburg.
“ Legislative Update on Banking”
is the topic for the evening and will
be presented by Howard Hagen, as­
sistant attorn ey general. Pat
Schmeling, operations officer of
Iowa Trust & Savings Bank o f Emmetsburg will be hosting the meet­
ing.

YAKE,
SPRENGER
AND JENNINGS
Getting it done for you.

Ernie Yake

Bill Sprenger

Tom Jennings

234-2625

234-2484

Commerce Bank (f Kansascity"1
234-2483

MEMBER FDIC


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

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Telephone( M(816)
234-2000

*

has joined Norwest Bank Des
Moines, N.A. as vice president and
manager of sales and marketing,
card services. He previously was em­
ployed by Merchants National Bank
of Topeka as head of their marketing
department and customer service di­
vision.

sional management consultant from
New York.
On Friday, April 13, the general
session will begin at 9:45. Topics for
the morning include “ Regulations
-Who Are the Players?” and “ Look­
ing Up in a Down World.” Following
lunch, Nadine Frakes, N ABW regional director, will talk to the
group. The rest of the afternoon will
be devoted to workshops which will
be offered in one-hour concurrent
sessions.
The last day’s activities will begin
at 9:00 with Senator Shirley Marsh,
followed by John Miller of the Ne­
braska Bankers Association pre­
senting “ EFT Today and Tomorrow.” The afternoon will include pre­
sentation o f state awards, 1985
state conference training, social
hour and a banquet.

M ARSHALLTOW N: Fidelity Brenton Bank & Trust Company recently
promoted Dennis Miller to vice president/marketing; Ray Schwichtenberg to assistant vice president/ A l­
bion office manager, and Matt
Hamlett to assistant vice president/
agricultural loans.

MILFORD: Farmers & Merchants
Bank, Milford, recently received ap­
proval from the Department of
Banking and Finance to acquire all
the assets and liabilities of the Cordova Cooperative Credit Associa­
tion and to operate a branch in Cor­
dova.

Nebraska News

W ALLACE: Farmers State Bank in
Wallace has elected James L. Far­
mer president. He succeeds K.H.
Nieden who was elected chairman.
Previously executive vice president
of the bank, Mr. Farmer started his
banking career in 1971 at Hershey
State Bank.

Norwest Bank Des Moines , N.A.
Call (515) 245-3131 or toll-free (800) 362-2514

NORWEST BANKS

mmmmm

n

Member FDIC

m

T e a m w o rk:
one o f the reasons
w e’re firs t in Iowa.
Jan Townsend

Bernle Kersey

COUNCIL BLUFFS: Frank O. Starr
III has joined First Bank N.A. of
Council Bluffs as chairman, presi­
dent and chief executive officer. He
succeeds Stanley Duysen as CEO.
Mr. Duysen has resigned to pursue
other business interests. He will re­
main on the board. Mr. Starr pre­
viously was president and CEO of
the Bank of Lakewood, Colo.
COUNCIL BLUFFS: State Bank
and Trust Co. has elected Brent
Rahn senior vice president, to direct
operations and personnel with addi­
tional responsibility for commercial
lending. Mr. Rahn joined the bank in
1979 and was named vice president
and cashier in 1982.
DES MOINES: Robert K. Hammer

ASK
JOHN MANGOLD
to make MNB
work for you.
Toll free
1- 800- 332-5991

Merchants
^
National Bank 151

Member F.D.I.C.


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Federal Reserve Bank of St. Louis

A BANKS OF IOWA’ BANK

The Nebraska Legislature, on
March 14, voted 27 to 19 to impeach
Nebraska Attorney General Paul
Douglas, based on testimony con­
cerning his involvement with Com­
monwealth Savings o f Lincoln
which failed recently. An early date
has been set for The State Supreme
Court to begin trial proceedings.
* * *
The Nebraska State Convention
of the National Association of Bank
Women will be held April 12-14 at
the Holiday Inn, Columbus.
The first day of the convention
will consist o f a management semi­
nar led by Patricia Brill, profes­

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Minnesota News
The Minnesota Bankers Association Agricultural and Rural Devel­
opment Committee will present three
Agricultural Workshops April 3,4
and 5 in Detroit Lakes, St. Cloud
and Mankato.
The program will provide ag
lenders an in-depth study of agricul­
tural financial statements. Speaker

Recipe for success.. \

-

^

^

CALL ON THE “PERFORM ANCE TEAM ”
where comm on transactions are handled uncommonly well.
FI RST N ATIO N A L LI N C O L N
13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C.

for the workshop is Michael Boehlje,
professor o f economics at Iowa
State University, Ames.
Registration begins at 9:30 a.m.
and the workshop will conclude
around 3:30 p.m.
* *

*

Brian Becker has joined the Min­
nesota Bankers Association staff as
program coordinator. Currently a
doctoral candidate at the University
of Minnesota in adult education, Mr.
Becker will be responsible for devel­
opment and coordination of various
education activities of the associa­
tion. His prior experience includes
teaching, adult education develop­
ment and administration in the
Lakeville and South St. Paul school
districts, and personnel administra­
tion and staff training at Norwest
Bank in St. Paul.
DULUTH: Dennis Dunne has elected
to take early retirement as president
and chief executive officer of Nor­
west Bank Duluth. He will step
down August 31,1984 after 34 years
with Norwest, the last nine as presi­
dent. A new president has not yet
been named.
HOPKINS: The Comptroller o f the
Currency has approved the merger
of First Produce State Bank, Min­
neapolis, with First National Bank
of Hopkins, under the charter and ti­
tle o f the Hopkins bank.
M INNEAPOLIS: A selection of Na­
tive American art entitled “ The
Movable Feast," will be on display
at F&M Marquette National Bank’s
Skyway Gallery through April 10.
The show, which represents Indian
foodgathering and feasting cus­
toms, is on the second level of the
gallery, located at 6th and Marquet­
te Avenue, Minneapolis.
SLAYTON: Jerald L. Tiggelaar has
been elected president of Norwest
Bank Slayton. Mr. Tiggelaar, for­
merly vice president and senior loan
officer at the bank, succeeds Palmer
A. Hoffland, Jr., who has resigned.
Also announced was the election of
John R. Troth, president of Norwest
Bank in Worthington, to the addi­
tional post of chairman of Norwest
Bank Slayton. He will continue as
president of the Worthington bank.


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Federal Reserve Bank of St. Louis

Illinois News
CHICAGO: Homer J. Livingston,
Jr., 48, has joined LaSalle National
Bank as president and chief execu­
tive officer, according to an an­
nouncement from Robert K. Wilmouth, chairman of LaSalle Na­
tional. Mr. Livingston has been a gen­
eral partner in Wm. H. Blair & Co.
investment firm for the past several
years. Prior to that he was associ­
ated with First National Bank of
Chicago, resigning as executive vice
president to become a partner in the
investment firm.

Wisconsin News
ASHLAND: John T. Midthun has
been elected executive vice presi­
dent of Northern State Bank, Ash­
land, according to Frank Phillips,
chairman and president. Mr. Mid­
thun previously was executive vice
president of the First Bank and
Trust, Menomonie.
DE PERE: David J. Schlitz has
been named president of Firstar
Bank in De Pere, according to Wil­
liam D. Wolter, president and CEO
of Firstar Corp., Appleton, and Wal­
ter R. Cloud, chairman of the bank.
Mr. Schlitz had been with First Na­
tional Bank of Atlanta, Ga., where
he was vice president of the commer­
cial loan division.

years, most recently as senior vice
president at the Kemmerer affiliate.

Montana News
The Montana Bankers Associa­
tion 1984 Annual Convention will be
held June 26-29 at Big Sky, Monta­
na.
This year’s convention theme,
“ The Renaissance Banker," typifies
a transitional period from one era to
the next.
Speakers booked for the conven­
tion will explore the changes taking
place and describe ways in which
banks can take advantage of the
changing environment.
Reservation and registration in­
formation will be mailed out in the
near future.

Meet the
problem
solvers.
Dick Muir

Larry Russell

Dave Dickens

Melissa Smith

OSCEOLA: Dale L. Morrill has been
appointed executive vice president
of The Bank of Osceola. Mr. Morrill,
who has been associated with the
Summit Banks of the Twin City
area, most recently was president of
the Summit State Bank of Phalen
Park.

Wyoming News
GILLETTE: Stockmens Bank &
Trust Co. recently promoted Rodney
R. Addison and Clinton P. Walker to
vice president status. Both were
serving as assistant vice presidents.

e’ll meet your needs
¥ ¥ for bankcard services,
oan participations and
quality investment portfolio
recommendations.

ROCK SPRINGS: John Martin has
been named president of the First
W yoming Bank of Rock Springs. He
replaces Bob Preston, who resigned
for personal reasons. Mr. Preston
served as president of the bank since
it opened nine years ago. Mr. Martin
has been with First W yoming 12

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U N IT E D M ISSOUR I B A N K
Member FC)tC

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United we grow.Together.

10th and Grand ° P.O. Box 226
Kansas City, Missouri 64141
(816)556-7000

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
306 - 15th Street
Des Moines, Iowa 50309
Phone 515/244-8163

POSITIONS AVAILABLE

FOR SALE

W A N T ADS

Commercial Lender for $95 m illion eastern Iowa Bank,
Knowledge of ag loans a p lu s.................................. $35,000

IBM SYSTEM 34 MODEL E35 COMPUTER— 128K-128MB
disk, magazine drive. 300 LPM printer. On IBM mainte­
nance. Phone 701/968-3314, Baker Electric Cooperative,
Box 608, Cando ND 58324._______________________ (FS)
PITNEY BOWES MODEL 5640 MAILING MACHINE, ex­
cellent condition. Call Jody Bailey, (512) 250-0794.
(FS)
NCR 796-301 CRTs. Four available immediately. Eligible
for maintenance. Call Teresa George, (512) 250-0794. (FS)
KODAK 450E MICROFILMER. Call Ms. W hitten. (512)
250-0794.
£S)
IBM, NCR, DIEBOLD, DOCUTEL NEW & USED ATMs,
TELLER, PROOF & COMPUTER HARDWARE Buy and
S e ll. P hone O m aha C o m p u te r E x c h a n g e In c .,
402/333-3203.
(FS)

Commercial Lender with 2 years experience - for Lakes Area
bank. Training and background im portant............ to $25,000
Commercial Lender for $50 million bank in college to w n . . . .
....................................................................................to $40,000
Operations Person for $16 million bank in northern Iowa.
Nice situation for long-term...................................................to $30,000
Sr. Ag Lender for $40 million bank in Central Iowa. Prefer col­
lege graduate with rather extensive bank record.. to $35,000
Sr. Ag Lender for member of multi-bank holding company in
Illinois. Must have proven record and degree.........to $38,000
Jr. Ag Lender for member of multi-bank holding company in
Illinois. Prefer minimum two years bank experience............
....................................................................................to $28,000
Number Two person for northern Iowa community bank.
Should be ag-oriented and know ag lending/operations.. . .
....................................................................................to $35,000

CORRESPONDENT BANKER
We are looking for someone w ith 3-5 years of com­
mercial lending experience to work in our corre­
spondent bank area. Additional requirements are
correspondent banking experience (or extensive
AG lending experience) and a college degree with
at least 1 year of accounting. For more informa­
tion phone Mary Nerhaugen 612/341-6579.

EXPERIENCED TRUST OFFICER to form and head a trust
department in a $200 m illion financial institution. Position
requires law degree w ith approximately 5 years experi­
ence in all phases of trust services. Applicants should be
aggressive and personable in order to be considered. Ex­
cellent benefits and salary commensurate w ith experi­
ence. Send resume, salary history and requirements to file
WAH, c/o Northwestern Banker. All inquiries confidential.
AN EQUAL OPPORTUNITY EMPLOYER.____________ (PA)
AG LOAN OFFICER progressive bank group looking for ag
lender in $65 m illion bank in Boone, IA. Prefer 5-10 years
banking experience. Salary commensurate with experi­
ence. Send resume to Jack Ayres, P.O. Box 486, Bellevue,
NE 68005.__________________________________
(PA)
REAL ESTATE LOAN OFFICER — The Hills Bank and Trust
Company has an excellent opportunity for the right person
to head our real estate loan department. Minimum three or
four years experience required - to process FHA, VA loans
and to handle loans on secondary market. We are a $142
m illion bank w ith tw o locations serving the Iowa City area.
Interested candidates should send resume in confidence
to: Gordon Hinz, H ills Bank and Trust Company, 131 Main
Street, Hills, Iowa 52235.
(PA)
INSTALLMENT OFFICER for $20 m illion southwest Iowa
community bank. Experienced, licensed in all insurance
lines. Ag experience helpful. Send resume to file WAO, c/o
Northwestern Banker. _________________________ (PA)

F & M MARQUETTE NATIONAL BANK
6th & Marquette
Minneapolis, MN 55480
Affirmative Action Employer

(PA)

Let us help you. Call the ag lending personnel
specialists without cost or obligation. Confi­
dential. Employers pay us to hire the best.
NW-1 BRANCH MANAGER—Suprv. 3 loan officers
and clerical sta ff of 2. Loan vol. of $17MM. Five yrs. ag
credit exp.-administrative skills. MN. $25-30,000.
NW-2 JR. ALO— Handle $5MM in ag loans. 1-3 yrs. ag
lending exp. Bus. dev. skills and public relations per­
son. IA. $20-25,000.
NW-3 AG LOAN OFF— Report to Dept. Head w ith re­
sponsibilities of ag lending and correspondent activi­
ties. 2-4 years ag banking exp. IA. $20-24,000.

MORTGAGE LENDER—Central Iowa bank seeks a suc­
cessful motivated residential lender w ith 3-5 years experi­
ence in marketing and closing of residential loans. Com­
petitive salary and benefit package available. For confi­
dential consideration, please send resume and salary his­
tory to file WAQ, c/o Northwestern Banker.
(PA)

NW-7 AG LOAN OFF—Aggressive and com petitive
bank needs ag credit person be involved in selling ser­
vices of bank and ag credit resp. IA. $25,000.

NW-6 AG LENDER—Strong ag credit person resp. for
$5MM in ag loans. MIN. of 5 yrs. ag credit analysis
skills. KS. $25-28,000.

C o lle c tio n s

Reliable and respected service
for over 20 years
Used by bankers
throughout the midwest

Ben E . Marlenee
Coins
913 Locust
Des M oines, Iowa 50309
515-243-8064

SERVING PROFESSIONALLY
Banking, Financial & Business Personnel
Iowa and Nationwide

CAPITAL PERSONNEL SERVICE
714 U.C.B. Building, 515-283-2545
Des Moines, Iowa 50309
POSITIONS AVAILABLE

NW-9 AG LOAN OFF—All phases of lending (empha­
sis in ag) for $30MM bank. 3 yrs. ag lending. Wl.
$20-25,000.

REAL ESTATE LOAN - manage $6MM real estate dept, for
community bank. Majority of portfolio is single fam ily
residential.
$25,000

NW-10 DEPT. HEAD—Supervise 5 loan off. and ag
portfolio of $30MM + . MIN. 10 yrs. ag credit exp. SD.
Up to $40,000.

CEO - $50MM community bank w ith heavy emphasis on
agricredits. Ideal candidate w ill have proven ad­
m inistrative record and superior agrilending skills.
$ Open

NW-11 BRANCH MGR.—Resp. for$10MM in loans and
branch activities. 2-4 years ag credit exp. Bus. dev.
skills and ins. licenses. IA. $26-32,000.

COMMERCIAL/INSTAL. LOAN - $25MM community bank.
Position requires 2-4 yrs. lending in bank environment.
$25,000
REAL ESTATE/BIZ. DEVELOPMENT - $65MM suburban
bank desires real estate lender w ith strong construction
and commercial real estate background. Biz. development
skills a must.
$35,000

FEE SIMPLE OWNERSHIP

Dwayne S. Smith
PARADISE PROPERTIES
Box S
Dillon, Colorado 80435
Phone today, 1-800/922-2590

P u rch ase o f

NW-8 INSTALLMENT LOAN OFF—$65MM bank needs
installm ent lender. Exp. in lending. NE. $25,000.

1/8
Two bedroom, two and a half bath,
fireplace, garage, hot tub in enclosed
atrium area. Fully furnished, including
washer and dryer.
Purchase price $33,900.

E sta te A p p r a is a ls

NW-4 CREDIT MGR—Total resp. of open accts. rec.
for well established coop. Exp. in credit and collec­
tions. Wl. $18,000 + .
NW-5 SR. LDG. OFF— In chg. o f total loan portfolio of
$35M M + which includes ag, comm., inst., and RE.
Bank exp. MN. $35-40,000.

Six weeks spread throughout each year in
your own luxurious townhome near
Keystone, in the heart of Ski Country.

Write or call in confidence to Malcolm Freeland, c/o
Freeland Financial Service, Inc., 1032 Carriers Bldg., Des
Moines, la. 50309. Phone (515) 282-6462. Employers pay fee.

S a le o f R a r e C o in s

Ag Banking Personnel

EXPERIENCED TRUST OFFICER to head small but growing department in progressive $65 m illion Iowa bank. Law
degree a plus, but experience may substitute. Estate plan­
ning, employee benefits, and marketing knowledge re­
quired. Salary to $34,000 plus benefits. Send resume and
salary history to file WAP, c/o Northwestern Banker. (PA)

LOAN REVIEW POSITION— Must be experienced in com­
mercial and ag loans. Light travel. Office in Twin Cities
metro area. Salary open. Excellent opportunities for ad­
vancement In growing organization. Send confidential
resume to file WAR, c/o Northwestern Banker.
(PA)

Ag Lender for eastern South Dakota bank, located near ma­
jor population area................................................................. to $30,000

CORRESPONDENT OFFICER - position requires ex­
perience in the analyses and documentation of participa­
tion and bank loans. Limited travel.
$40,000

Linda: 515/394-5827
Jean 515/263-9598 if
New Hampton, la. 50659 no answer, 712/779-3567
■
Massena, Iowa 50853

soncausers, inc.
J

THE ORIGINAL AGRICULTURAL RECRUITER

Resume and salary history requested. All inquiries con­
fidential.

TOM HAGAN & ASSOCIATES
P.O. Box 12346 - 2024 Swift
North Kansas City, MO 64116
816/474-6874
“ Serving the Banking Industry Since 1970”

Vol. 12 No. 49 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 3579k manuscripts, mail items to above address.

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Federal Reserve Bank of St. Louis