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Des Moines, Iowa March 28,1988 rection to the Tax Reform Act of 1986 to give relief to many smaller w I EADERS of eight financial government checks or depository in community banks who are on a cash L trade associations have signed stitution checks as with other accounting basis. In compliance a letter asking Congress for legisla checks, particularly given the soph with the 1986 Tax Act, the IRS tive relief from some provisions of istication of check forgers,” the let regulations require these smaller in stitutions—generally considered to — the Expedited Funds Availability of ter said. the Competitive Equality Banking The letter requested that the law be banks of $40 million asset size or Act. The first part of the law is sche be changed so the Federal Reserve less—to maintain accrual account duled to become effective September Board could authorize an exemption ing on proceeds of short-term loans, 1, 1988 when financial institutions limiting next-day availability for which conflicts with their being on a 0 must give availability on locally such checks up to $5,000. The letter cash basis for everything else. The drawn funds at least after two inter noted that both the House and Sen result is a jump this year in their vening days, and for non-local funds ate bills had authorized such an taxes. Some institutions have post after six intervening business days. exemption, but that authority did poned to June 15 their payment of On September 1 , 1990, those time not appear in the version that was taxes to see if a clarification comes forth from Congress. 0 frames change to one day and four signed into law. Working on the problem in the days respectively. The Fed is allowed to make ex Signing the letter were executives emptions concerning funds-availabi- House are Rep. Byron Dorgan (D., of the American Bankers Associa lity schedules involving other types N.D.), a member of the House Ways and Means Committee, and Sen. tion, Independent Bankers Associa- of checks exceeding $5,000. 0 tion of America, California Bankers The letter included as an example Tom Daschle (D., S.D.), a member of Clearing House Association, Con a copy of a fraudulent check which the Senate Finance Committee. It is sumer Bankers Association, Credit cost a bank more than $45,000. hoped they can tack on the needed Union National Association, Na “Such fraudulent checks . . . could amendment to a technical correc □ tional Association of Federal Credit threaten the safety and soundness tions bill. £ Unions, National Council of Savings of even relatively large depository Institutions and United States institutions. At a minimum, such I BAA Elects New Officers League of Savings Institutions. The fraud losses will increase the cost of Members of the Independent letter was sent to Senate Banking banking services,” the letter stated. Bankers Association of America Committee Chairman William ProxThe letter said the new law may, gathered in Honolulu March 13-16, • mire (D., Wis.) and ranking minority in some cases, prevent banks from and elected new officers for the member Sen. Jake Gara (R., Utah). having the time to check the validity 1988-89 term. They are: President— Specifically, the groups requested of checks. The Fed’s staff has ex J.R. Nunn, president, Citizens changes in the new law dealing with plained that it cannot address this Bank, Tucumcari, N.M.; Presidentnext-day availability of checks problem without additional legisla Elect—O.J. Tomson, president, Citi # drawn on governments or deposito tion. zens National Bank, Charles City, ry institutions. * * * la.; Vice President—Philip Vallan“Fraud losses are just as likely to The bankers associations also are dingham, president, First State occur in connection with purported asking Congress for a technical cor Bank, Barboursville, W. Va., and Seek Expedited Funds Law Changes J e ff S im s https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Correspondent Services S tu a rt Becker Correspondent Services 2 COL. GORDON E. TAYLOR Norwest Bank Des Moines, N.A. Box 949 - Mason City, la. 50401 515/423-5242 Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS ummmm Member FDIC « iv i Professional Auctioneer Real Estate Broker and Appraiser Teamwork: one of the reasons we’re first in Iowa. dent of Vistar Bank in Lincoln. Prior to that he was vice president in the lending department for First Na tional Bank of Lincoln. Dorothea Wolfe John Rigler Treasurer—Ed Sheldon, president, National Bank of Bremerton, Wash. Iowa News WEST BURLINGTON: At West Burlington Savings Bank, Kent M. Gaudian has been promoted to ex ecutive vice president and CEO. He joined the staff in 1983. Nebraska News The Nebraska Bankers Associa tion will sponsor a Head Teller/Teller Staff Conference at five locations throughout April. Jack Hubbard of Von Almen & Associates, Roselle, 111. and Janet Ayres of Omaha will both emphasize customer service in their presentations. Registration is at 1:30 p.m. and the program runs from 2:00 until 9:00 with dinner from 5:00 until 6:00. Fee for after noon session plus dinner or evening session plus dinner is $30; both ses sions and dinner is $50. Dates and locations are: 5th—Kearney Ramada Inn, 6th—Columbus New World Inn, 7th—Lincoln Villager Motor Inn, 13th—Scottsbluff Country Club, and 14th—North Platte Holi day Inn. Contact the NBA to regis ter. BELLEVUE: Rodd Holtkamp has joined Tri-County Bank and Trust Co. as vice president and loan of ficer. He was previously associated with the Bank of Bellevue, where he served as assistant vice president and loan officer. LINCOLN: Art N. Burtscher has been appointed president of Douglas County Bank & Trust Co. He suc ceeds Dale Heimann, who resigned in January. Mr. Burtscher previ ously served as executive vice presi- OMAHA: Among recent promo tions at FirsTier Bank was the ad vancement of C. William Joe to vice president. He has been with FirsTier since 1977 and is a trust employee benefit marketing officer in the estate and trust division. Minnesota News The Minnesota Metro American ® Institute of Banking has announced its seminars for April. They are: 6 th —Bank Procedure W riting; 6th—Introduction to Symphony; 12th—Installment Loan/Credit Card • Collection; 134th—Interm ediate Lotus 1-2-3; 14th—WordPerfect 5.0 Enhancements; 19th—Dealing with Difficult People; 20th—Using the Laser Printer; 21st—The Executive ® Secretary; 27th—Collateral D ocu -^ ^ mentation; 27th—Know Your IB M -^ P PC. For more information, contact Judy Clark at (612) 338-8482. ^ MINNEAPOLIS: Norwest Corpora tion announced on March 18 that it will merge banks in Ely, Eveleth, Hoyt Lakes and Virginia into a A Meeting Of The Minds. At Security National Bank, our minds are on meeting all your Correspondent Banking and Investment needs. We’re Security for you! Terry Martin MNB Correspondent Banker Together We Can Accomplish Great Things Call 319-398-4320 or toll free 1-800-332-5991 M ichael Moreland Ron Kiel Correspondent Banking Officer SECURITY N A TIO N A L R A N K 712-277-6736 IN SIOUX CITY, IOWA. MEMBER F.D.I.C. Wee President Investments 712-277-6616 I t's easier to talk Iowa banking w ith people w ho live it — people like Donald H. Jordahl and the cor respondent staff at Bankers Trust. Call 1-800-362-1688 or 515/245-2424. Strength of Eastern |ow a_^ Merchants National https://fraser.stlouisfed.org Cedar Rapids. Iowa 52401 Federal Reserve Bank of St. Louis a Bankers most Bank , BANKS OF IOWA BANK Des Moines, IA (/ • Donald H. Jordahl M em ber FDIC Vice P resid en t ._ DH A A N K ER SS) N K E R S tP A Some special candidatesfrom Robert Halfs BankingDivision ^SM AG LOAN OFFICER, BS ^ Do you need a lender w ho’s willing to work around-the-clock? This bright ag lender currently administers a 14mm ag loan portfolio in a 127mm bank. With 4 + years lending experience, this high energy candidate will communicate effectively with your ag clientele. BB38801 Asking: Mid $20’s Range # JR . COMMERCIAL LENDER, BA • # Enthusiastic banker with a need to excel! This professional credit analyst has 4 + years experience spreading financial statements and conducting cash flow and collateral analysis. Has successfully completed 2 RMA Omega courses. Ready for a new challenge! BB38802 Asks: Low $20’s CFO Seasoned financial professional with 15 years experience in the financial services industry. Has strengths in strategic planning, asset and liability management and leadership, yet is not above a shirtsleeve role. BB38803 Earns: $60,000 # • # • • # SR. AG LOAN OFFICER, BA Do you need a leader who will add enthusiasm to your lending staff? This sharp minded ag lender has 9 + years experience with an emphasis in dairy and grain farm loans. Currently administers a $6mm loan portfolio. Willing to relocate. BB38804 Asks: Low $30’s Range RESIDENTIAL REAL ESTATE OFFICER Do you need a loan officer w ho’s a real go-getter? This action-oriented lender has 15 + years successful mortgage lending experience. Well versed in FHA, VA, Conventional and State Bond financing programs. This producer will step right in and generate business! BB38805 Asking: $30,000 SENIOR LENDER, BA This industrious banker is ready to burn the midnight oil to get the job done! This bright leader has 12 + years commercial lending experience and is currently directing the entire lending function of a $40mm bank supervising 5 lenders. Don’t let this candidate get away! BB38806 Earns: $45,000 PRESIDENT, BS • Are you looking for a no-nonsense executive? This take-charge leader has 15 + years banking experience. Cur rently CEO and Director of a $34mm ag bank. An upscale administrator who will build team work in a bank. A true believer in community involvement! BB38807 Asks: Low $50’s Range https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis COMMERCIAL LENDER, BS This highly motivated technician knows what it takes to be a good business developer. Has 5 + years corporate lending experience administering a $60mm loan portfolio. Has spent the last 2 years coordinating a credit training program for a major banking group. Prefers Minneapolis. BB38808 Asks: Low $30’s Range’ CREDIT ANALYST, BA This ambitious team player is more than just a numbers person! Has formal credit training with a major bank along with 2 + years experience spreading financial statements. This high level professional has the perfect com bination of analytical and people-handling skills. Also has series 7 and 63 license. BB38809 Asks: High $20’s Range CONSUMER LOAN MANAGER, AA This persuasive communicator will make things happen for you! 7 + years consumer banking experience with expertise in real estate loans along with direct and indirect lending. This sharp banker will surely bring in new accounts! BB38810 Asks: High $20’s Range CASHIER, BS Do you need a cashier who understands priorities? This proven performer has 8 + years experience directing ac counting, customer service, tellers and proof in a 178mm bank. A top level performer who w on’t let you down! BB38811 Asks: Low $30’s R ange^ MID-MARKET LENDER, BS Do you need a dedicated lender with excellent business development skills? This candidate has successfully generated 7 figure loans calling Midwest mid-market clients. A high image banker with the enthusiasm and drive you’ve been looking for! BB38812 Asks: High $40’s Range The Banking Division Susan Keithahn Banking Specialist https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Robert Half o f Minnesota, Inc. 3636 IDS Center, Minneapolis, MN 55402 (612) 339-9001 Paul Gentzkow Placement Manager W HAT B A N K IN V E S T M E N T O FFIC E R S C A N L E A R N FR O M “T H E T H R E E L IT T L E PIG S.” # unproven, high yield investment products. W hen unexpected changes in the market occurred, the banks suffered substantial capital losses. Since 1928, United Missouri has researched, analyzed and offered only top-quality securities and investment strategies. C ontact our Investment Banking Division at 556-7200. W e’ll help you make your bank’s investment portfolio so strong, nothing can blow it down. You can’t build things overnight and expect them to last. Only proper materials and skill ensure stability and longevity. It’s a lesson United Missouri Bank has heeded while building their own solid investment portfolio as well as their successful Investment Banking Division. Recently, several banks in the Midwest forgot the moral behind this enduring fable. Tempted by the possibility of a quick boost in earnings, their investment officers purchased Investm ent Banking Division UNITED MISSOURI BANK Member FD1C https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis q | ^ a S C i t y I U . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OVER 60% • OFALL BANKSIN OURMARKETAREAARENOWINSURED BY THE KANSAS BANKERS SURETY COMPANY That’s Right. . . In the nine states we serve we have solved the bonding needs for 6 of every 10 banks. Thafs over 16.4% of all banks in the United States THE REASONS. . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DONALD M. TOW LE President DAVID E. ABENDROTH Senior Vice President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1-913-234-2631 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving the Heartland of America since 1909 OVER 60% OFALL BANKSIN OURMARKETAREAARENOWINSURED • BY THE KANSAS BANKERS SURETY COMPANY That’s Right. . . In the nine states we serve we have solved the bonding needs for 6 of every 10 banks. That's over 16.4% of all banks in the United States THE REASONS. . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DONALD M . TOW LE President DAVID E. ABENDROTH Senior Vice President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1-913-234-2631 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, ^ DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving the Heartland of America since 1909 FirsTier Corr&spondont SGrviCGS F irs T ie r B an ks Lincoln O m aha • FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC single bank effective April 1 . The new bank will be called Norwest Bank Minnesota Mesabi. It will have total deposits of $150 million. Illinois News CHICAGO: Theodore E. Schultz has been promoted to senior vice president, treasurer and chief ac• counting officer of the Exchange In ternational Corporation. He will also serve as senior vice president and chief accounting officer of The Ex change National Bank of Chicago. • He has been with The Exchange since 1977. Also named senior vice president of both the corporation and the bank is Kent Suarez, who will assume the newly created posi® tion of corporate risk manager. CHICAGO: Unibancorp, Inc. and Old Kent Financial Corporation, multi-bank holding companies based f in Chicago and Grand Rapids, Mich., respectively, have announced that they have entered into a pre liminary agreement for the merger of Unibancorp with a subsidiary of 0 Old Kent. The merger is expected to be accomplished by the end of the third quarter. More o f what it takes to serve you well. will serve in the loan and operations areas. He had been serving as a con sumer loan specialist with Security Savings and Loan in Milwaukee, Wis. Wisconsin News EAU CLAIRE: Kenneth R. Koopmann has been elected vice presi dent at First Wisconsin National Bank. He will manage the corres pondent banking division. He joins the bank after 20 years with First Wisconsin—Milwaukee. Green, who has accepted a position at a small Upper Midwest bank holding company. Mr. Thomas most recently served as regional credit ad ministrator, North Dakota region. He joined FBS in 1969. Mr. Green served as president of First Bank Bismarck since 1983. Colorado News DENVER: The FDIC has approved the assumption of the deposits and fully secured liabilities of Security Bank of Denver by City Center Na tional Bank of Aurora. The Denver bank, with total assets of $16.8 million, was closed March 10 and reopened the 1 1 th as a branch of the Aurora bank. City Center National will assume about $15 million in deposits and will purchase all of the failed bank’s assets at a discount of $1.9 million. North Dakota News The Independent Community Banks of North Dakota will sponsor a seminar on lender liability on March 29 at the Bismarck Holiday Inn. The seminar begins at 8:30 a.m. and will be conducted by corporate risk expert Dorothy Florence. North Dakota Supreme Court Justice Beryl J. Levine will be the luncheon DENVER: United Banks of Col speaker. Fee is $150 and also covers orado has appointed Michael J. a manual. Contact the ICBND for Fowles senior vice president—credit administration and John F. Falkenmore information. berg vice president and director of BISMARCK: Richard M. Thomas planning for the company and has been elected president and United Bank of Denver. They joined EVANSTON: First Illinois Corpora- market manager of First Bank Bis United Bank of Denver in 1968 and tion has announced they have marck. He succeeds Donald W. 1981, respectively. • signed a definitive agreement to pur chase the charter covering the DOES YOUR BANK NEED AN INVESTMENT CENTER? United Illinois Bank of Troy. Pen Your benefits: • New high net w orth custom ers ding regulatory approval, First II• A dded profit • R educed deposit loss to com petitors _ linois will move the charter to their • Ability to offer com plete financial services 9 main office in Evanston. Upon determination of a new permanent 1-800-544-7113 For information contact: main office location, the charter will First Dakota Building then be located in either Cook, P.O. Box 2796 Bismarck, ND 58502 £ DuPage, Lake or Kane County. 88S2S «68822 or POPLAR GROVE: Kirk A. Kniep P.O. Box 65697 has been elected vice president of West Des Moines, IA 50265 The Poplar Grove State Bank and • INVESTMENT COUNTONIt Count on Com merce for superior capabilities and personal attention to your correspondent banking needs. A combination we’ve upheld for more than 120 years. Give us a call. 1*800-892-7100 1*80(18212182 <D https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (Outside Missouri) Rank 3 POSITIONS AVAILABLE CHIEF EXECUTIVE OFFICER is retiring. $54MM Bank look ing for a community minded individual that wants to run his own show. Need experience in all aspects of the bank. Send resume to File No. WMK c/o Northwestern Banker. POSITION WANTED FARM MGRJAG LOAN OFFICER. Financial analyst with M.S. in ag econ and member of ASFMRA. Good people skills, motivated, willing to relocate. Contact File No. WMY c/o Northwestern Banker. (PW) • /______________________________ (PA) POSITIONS AVAILABLE COMMERCIAL LENDER— Banking professional with for mal credit training and experience in a large commercial department............................................................. To $50,000. REGIONAL TRUST OFFICER— Multi-bank holding com 1pany needs seasoned trust officer to handle all trust wor for several area banks. Need good marketing skills an management ability...............................................To $40,000 0 Commercial Bank in Metro looking for a bright articulate COMMERCIAL LENDER. Dept, head retiring end of ’88. Must have excellent business development skills. Send resume to File No. WMU c/o Northwestern Banker. (PA) LOAN ORIGINATOR— Newly created position for ex perienced commercial lender wanting the challenge and opportunity to use marketing skills for career advance ment.................................................. $35,000 + commission. Need experienced SENIOR CONSUMER LENDER for con sumer loan dept, of medium sized bank. Dealer relations, indirect paper experience a must. Good delinquency/loss ratio a priority. Contact File No. WMZ c/o Northwestern Banker. (PA) Financial Careers, Inc. Two Ruan Center/Sulte 1000, Des Moines, IA 50309 515/245-3786 Employer pays fee. WANT TO BUY Please contact Lorraine Lear or Malcolm Freeland con cerning these and other Midwest banking opportunities. Need VAULT DOOR that meets FDIC requirements; also good clean OFFICE FURNITURE. Contact Rich Halverson, Corwith State Bank, Corwith, IA 50430. (515) 583-2390. (WTB) Serving bankers quietly and efficiently CAPITAL PERSONNEL SERVICE BANKING c a r e e r 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 s quality service by experienced professionals POSITIONS AVAILABLE VP—LOAN REVIEW—This is a career-climbing opportuni ty! Mpls. bank group seeks ambitious technician to join its fast-paced staff. This position will review credit quality and coordinate loan administration procedures for its af filiate bank group. Excellent visibility! To $55K. Job #NW3047 BANKERS AVAILABLE CASHIER Nearly 10 yrs. with same bank. Well-rounded exp. In all phases of operations and lending. B.A., graduate Iowa School of Banking, and la. insurance licenses.$30,000. SENIOR LENDER— Have you been waiting for the oppor tunity to head up your own dept.? Western Minn, bank seeks seasoned com’l/ag lender with leadership ability to direct the entire lending function of this medium size bank. Must have 10+ yrs. banking experience and prove business development skills. A super challenge! To $45 K + car! Job #NW3048 AG TRAINEE Recently completed extensive 4 mo. internship In $50MM bank. The head of the ag dept, states, "By far the best of the numerous students in the program. Has common sense to retain and apply what he’s learned. His attitude and personality make him en joyable to have around.” B.A., business econ. (3.0 GPA). $16-18,000. JEAN EDEN SANDI GARNER 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 CANDIDATES AVAILABLE SR. PROGRAMMER MBA from Drake. Six + years industry background in both insurance and banking environments. Very familiar with MSA software packages. Very detail oriented. $30K. SR. VP INVESTMENTS Increase your earnings. Now more than ever an in vestments manager who can squeeze out every dollar is even more Important. Here is an individual well trained in all facets of banking who has run a $200M portfolio and had phenomenal success. Can do the same for you! $50K. SR. COMMERCIAL LENDER High activity lender. Last 7 years in big volume department bringing in the quality customers. Strong documentation, people skills and management techniques. Professional education includes RMA omega, numerous AIB courses. Keeps the work flowing. $58K. LOAN MANAGER— Is your career at a standstill? Medium sized central Minn, bank seeks an aggressive ag lender with 3 + yrs. experience to manage its ag division. Must have proven management ability. To$37K. Job#NW3049. “T H E R IG H T F I T ” Banking Placement Specialist For Your Staff: □ Top Professional Bankers who are confidentially screened to find “The Right Fit” □ We recruit nationally through our over 200 independent affiliates as well as locally for our clients □ Contingency or Retainer Fee arrange ments □ Contact Sue Lundquist or Mel Hansen, CPC Banking Specialists ======' FDR FURTHER INFORMATION CONTACT KURT ROSENCRANTS ROBERT URLF (MF M W W I .M C . 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID ELLS Ells Personnel Systems 1129 Plymouth Building Minneapolis, MN 55402 612-333-1131 CELEBRATING OUR 75th ANNIVERSARY BY SERVING OUR BANKING CLIENTS WELL! FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR SUE KEITHAHN ROBERT HALF 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID POSITIONS AVAILABLE TRUST MARKETING - large urban bank. Requires degree and trust experience. $35K REAL ESTATE LOAN - single fam ily residential and secon dary market experience required. Proximity of major metro area. $40K LOAN REVIEW • large bank experienced required. Both junior and senior level positions available. $28-$40K COMMERCIAL LENDING - V.P. positions in urban and large suburban banks. Personal portfolios from $20MM to $50MM. $40K BRANCH MANAGER • handle small business and con sumer credits. Med-size com m unity affilia te of multibank holding company. $24K Additional listings for commercial lending and trust officers. Resume' requested. TOM HAGAN & ASSOCIATES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 "Serving the Banking Industry Since 1970" Voi. 16 No. 50 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Unden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden https://fraser.stlouisfed.org St., #201, Des Moines, Iowa 50309. Federal Reserve Bank of St. Louis
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