The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Vol. 4 No. 48 March 29,1976 Des Moines, Iowa Financing Available to Good Young Farmer Young farmers who have man agement ability and can produce a healthy cash flow will receive the financing they need to enter farming, a group of agri-bankers said last week. “Farming cannot be just a way of life. It has to be a profit-oriented business,” said C. P. “Buck” Moore, moderator of a five-banker panel discussion on financing young farmers. Farm bankers today look at a young farmer’s management abil ity, financial responsibility, pur pose in seeking credit, ability to repay and collateral. “It all boils down to management and cash flow,” said Mr. Moore, who is also president of Northwestern National Bank of Sioux Falls, S.D. “Young farmers know they have to start out with some kind of a base, and many will use various means to acquire this base: renting land, using machinery in exchange for labor, wife working at an outside job, starting a small laborintensive hog farrowing operation, taking a winter job or growing very light calves. “For this kind of operator, opportunities will present them selves along the way.” Getting Started The bankers noted that in some r cases young farmers may need 100 per cent financing to get started. This can be arranged, they said, through a combination of direct m m W. L f ,| j / N Mm ikRbI R. W ALTON C. P. MOORE bank financing and use of Farmers Home A dm inistration (FmHA) loan programs. “Financing young farmers is an investment in the future of our rural communities,” A. Edwin Baur stressed. Such loans can be “challenging but also rewarding to the financial institution. “Our farm loan people will spend more time with this type of borrower than the average. The purpose for the additional time is to help with financial planning.” Mr. Baur is senior vice president of The First National Bank & Trust Co., Kalamazoo, Mich. Techniques What techniques do bankers use to find and work with likely young farmers? M arlin D. Jackson, chairman and president of Security Bank, Paragould, Ark., outlined the following: • Identifying those people with the abiding, sincere desire to become farmers. It is much easier to work with the sons and daugh ters of successful farmers, he said, than with young people who have little real farming experience. • Identifying those with the management ability and the “wil lingness to endure the many hours of arduous labor connected with farming.” • Counseling with young farm ers and assisting them in locating farming opportunities. “We con sider ourselves active partners, all the way down to family financial planning.” Mr. Jackson said a usual progression for young people enter ing farming includes first obtaining their own equipment, then leasing land from their parents or others, building a healthy cash flow, and finally acquiring their own land. To evaluate farm credit applica tions, the bankers said they use as many of the following tools as possible: past, present and pro jected financial statements, com parative analysis of past years’ YOUNG FARM ERS...................... [Turn to page 4, please] When you choose a city correspondent, do what over half of the banks in Iowa do — bank at MNB. Terry M artin Vice President // \\ Merchants National Bank isi 222 Second Ave, S E https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cedar Rapids. Iowa 52401 • A'BANKS OF IOWA' BANK been named president of the Fremont County Savings Bank here. He formerly was vice presi dent in the commercial loan department of the First National Bank of Council Bluffs. For straight talk on corre spondent banking talk with Homer Jensen at CCB. We do your kind of banking. largest independent bank. Main Bank East Fifth Maddox Heads I BAA More than 2,300 members and their families from 43 states attended the Independent Bankers Association of America 46th annual convention in Honolulu, March 15-17. The election of new officers was advanced one day so the’new president and second vice president could fly to Washington, D.C., to testify against the proposed Finan cial Reform Act of 1976 at a March 18 House Banking and Currency meeting. New officers are: Pres.— Charles O. Maddox, Jr., president, The Peoples Bank, Winder, Ga.; 1st V .P.—Edward Trautz, presi dent, East Lansing State Bank, East Lansing, Mich.; 2nd V .P.— Ivan D. Fugate, chairman, West ern National Bank, Denver, Colo., and Treas.—Howard W. Peters, president, American State Bank, Wessington Springs, S.D. Kenneth J. Benda, president, Hartwick State Bank, Hartwick, la., presided at the sessions as IBAA president the past year and now is immediate past president. Call your roving correspondent at Bankers Trust Iowa News DES M OINES: Raymond G. Johnston, president of Central National Bank and Trust Com pany, has announced the election of Charles E. Radloff as systems officer. He joined the bank in February of 1973 as a senior programmer and has been compu ter programming supervisor in the electronic information processing and planning department for the past year. FREMONT: Controlling interest in the Farmers Savings Bank has been sold by Oliver Anderson to Russell Howard, Jr., president of the M ahaska S tate Bank in Oskaloosa. The sale is subject to the approval of bank regulatory authorities. Mr. Anderson, execu tive vice president of the Fremont bank and a director, will remain with the bank in the same positions. PRAIRIE CITY: Controlling inter est in the First National Bank has been purchased from Bill Burrell by Jerry Rhodes and Elwin Pearey. Mr. Rhodes is currently vice presi dent, Nevada National Bank. He will become active at Prairie City on May 1. Mr. Pearey is a promin ent farmer in the Cambridge area. Mr. Burrell continues to maintain interests in several other Iowa banks. SIDNEY: Ralph D. Storey has Christy Armstrong Leo Kane Bob Scott ‘WE HAVE WHAT YOU WANT in a correspondent bank’ American Trust BANKERS TRUST Des Moines, Iowa 50304 Use our to ll-free WATS line: 8 0 0 -3 6 2-1 6 8 8 Reserve System Mem ber: F.D.I.C ./Federa! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis and Savings Bank 9TH AND MAIN, DUBUQUE, IOWA MEMBER FDIC-FRS Nebraska News Cornell Taylor, director of education for the Wilson Learning Corporation of Eden Prairie, Minn., has been added to the program of the Nebraska Bankers Association Agricultural Confer ences to be conducted April 6-7 at Columbus and April 7-8 at North Platte. Other speakers include: Stanley Noyes, president, Noyes, Moran & Co.; Robert Armbruster, feedlot analyst, Cattle-Fax; Neal Harlan, general manager, ScoularWelsh Grain Co.; Allen Arnold, president, Arnold Grain and Fert ilizer; James Zoller, meteorologistin-charge, National Weather Ser vice; Bob Fritschen, district swine specialist, N ortheast N ebraska Station, and Les Sheffield, assist ant to the vice chancellor, Institute of Agriculture and Natural Re sources. LINCOLN: The Nebraska Bankers Association’s 79th annual conven tion to be held May 2-4 in Lincoln starts off with a new opening night format on Sunday with a dinner and gala entertainment featuring Anita Bryant and Don Rice. Convention speakers include Ne braska Governor J. J. Exon, National Football League’s durable George Blanda, ABA Treasurer Roger A. Lyon, and U.S. Senator John G. Tower (Rep., Tex.). Details of the convention program are published in the April North western Banker. LINCOLN: The nominating com mittee of the Nebraska Bankers POSITION WANTED Executive Officer. Medium to large bank or holding company. Business and financing experience in 25 states. Heavy emphasis, midwest area. 20 years business experience, 9 as C.E.O. Personal lending authority $840M. Pro fessional bottom line oriented manage ment. Knowledgeable in public relation^ and promotion. Capable staff direction, motivation and results. Unique abilities in agricultural and agri-business finance. Interested in correspondent relations. Will relocate. Confidential communica tion respected. Write Box UN(J, c/o NORTHWESTERN BANKER, J06 15th St., Des Moines, la. 50309. * Y y y > > y* y #> à -* V» IK* %- Yr À ST. PAUL: Timothy J. been named assistant dent of Liberty State Schneider has been auditor. ST. PAUL: Marion E. Newman, certified public accountant, has been elected to the board of Minne sota State Bank. Darlene A. Sundheim has been promoted to assist ant vice president and auditor and Denise Chavez and Susan Mishler have been elected assistant cash iers. SILVER BAY: Robert C. Rundquist has been elected vice presi dent of First Northwestern State Bank. He comes to the city from Albert Lea where he was assistant cashier of the First National Bank. WEST ST. PAUL: West St. Paul State Bank has announced the election of J. Robert Stassen as president and chairman, Rollin H. Crawford as vice president and secretary, and John L. Bahr as assistant cashier. Margaret Colmer has been promoted to assistant vice president. Messrs. Stassen and Crawford recently purchased the bank. Mr. Stassen formerly was a vice president of Dain, Kalman and Quail, Minneapolis-based invest ment banking firm. Mr. Crawford is a practicing attorney, heading the firm of Crawford and Anderson. Illinois News “Action ’76,” the Illinois Bank ers Association 24th annual Mar keting and Public Relations Con ference is coming April 14-15 at the Sheraton O’Hare in Rosemont. Featured will be a discussion titled “Electronic Banking versus Pers onal Banking—A Time for Deci sion.” John Fisher, vice president, City National Bank & Trust Co., Columbus, Ohio, will speak on electronic banking and James T. Brewer, Wachovia Bank & Trust Co., Winston-Salem, N.C., will speak on personal banking. Also Y John Zdychnec is back ...a n d ready to serve you. Iowa-Des Moines National Bank m il MEMBER FDIC included will be speeches on “Ethics in Bank Advertising,” by Jack Whittle, president, Whittle Group, Chicago; “Competing Against Thrift Institutions and Credit Unions” panel; legislative update by Arthur F. Busboom IB A president and president, Bank of Rantoul and a panel on electronic banking. WILMETTE: Edens Plaza State Bank has received approval to establish a motor facility at 3244 Lake Avenue, 108 feet east of its main office in the Edens Plaza Shopping Center. ► South Dakota News The South D akota Bankers Association will hold its Agricul tural Conference at the Holiday Inn, Mitchell, April 6-7. Registra tion begins at 8:30 a.m. followed by the first business meeting at 9:30, Tuesday, April 6. STURGIS: Two new officers have been elected at the Sturgis branch of the First National Bank of The Black Hills. Robert D. Worth has been elected personal loan officer and R. L. Bratland insurance manager. WESSINGTON SPRINGS: Na tional Bank of South Dakota has elected Bernice Burg assistant cashier at its office here. She joined the bank in March of 1974. Your Personal Banking Newsletter developed with you for your bank ene. •w https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Think big on microfilming We do. And our technical consulting staff can put new thoughts to work for you. We span the spectrum: Micro filming techniques, storage, retrieval. Every assignment is a challenge, large or small. Call or write us today. iSi In fo rm a tio n S y s te m s , Inc. 8939 J Street Omaha, Nebraska 68127 402/339-6111 WINNTKA: The Winnetka Bank has received permission to establish a motor facility at 845 Spruce Street. T ir »T 5 Macke has vice presi Bank. Jan appointed PHONE: 515/244-3963 BOX 2701 DES MOINES, IOWA 50315 North Dakota News CROSBY : A charter application for the First National Bank has been approved by the Comptroller. Montana News KALISPELL: First National Bank has changed its name to First Northwestern National Bank. 6 199 CALL ON THE “PERFORM ANCE TEAM ■■ where comm on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. EQUIPMENT LEASING Business — Farm — Professional Investigate our Bankers Participating ¿ectA eP lilH by tfn b u 'ted ^eim ceb, $ n c. ‘DICK” SELLON 545 - 31 st Street • 282-5008 Des Moines, Iowa 50312 WANT ADS Rates 35 cents per word per insertion. Minimum: 12 words NORTHWESTERN BANKER 306 15th St., Des Moines, Iowa ARE YOUR CUSTOMERS HAPPY? Send for our new booklet on “How To Attain Financial Happiness.” Enclose $1 for sample copy and information on volume orders for distribution to your bank’s customers and prospects. (Your $1 will be refunded with first order.) NORTHWESTERN BANKER 30615th St. Des Moines, la. 50309 515/244-8163 EXECUTIVE AVAILABLE Twenty years banking experience with 10 years as president and executive vice president. Expertise in agricultural loans, residential and farm mortgage loans. Write Box GHQ, c/o NORTH WESTERN BANKER, 30615th St., Des Moines, Iowa 50309. 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. 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. 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. SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 2 04 Securities Bldg. 515— 283-2545 Des Moines, Iowa 50309 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. W e w ant to be your correspondent banker. Correspondent Bank Department C all us to ll free Central National Bank & Trust Company EDDIE A. WOLF 8 0 0 - 3 6 2 - 1615. WILLIAM B. RUSSELL G. GREGORY S. GERALD B. GREAVES PLAGER WOLFE MURPHY 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 moore. For further information, contact: Darold Peterson, Bank of Minneapolis, 809 Nicollet Mall, Minneapolis, Minn. Phone: 612/340-5508. < Y y. 4 < BANKERS PERSONNEL SEARCH, INC. 321 Stephens Building Des Moines, Iowa 50309 515/282-4446 or 515/961-5419 Harriette Allison, President Employer Paid Fee Confidential Bank Personnel Only 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. X V il i f . I n c . 11 IS A SERVICE COMPANY • We do verifications, inventories, lease in spections, floor plans. 3011A Ingersoll Des Moines, Iowa 50312 515/274-2121 w POSITION AVAILABLE We need an individual with strong credit background to join us in the dynamic equipment leasing field. Opportunity to progress with young company. Salary, bonus and stock options commensurate with production. All replies confidential. First Insured Services, Inc., 545 31st St., Des Moines, Iowa 50312. BANKERS WANTED JUNIOR AGRI LN— Several places in the mid west for people with 1-2 yrs. bank exper. . . . $12,000 INSTALLMENT LN— Need 3 junior officers (to $12,000)and1 senior officer t o .............. ...$ 16 ,00 0 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 ownerof $12MM Ks. b a n k .............................. $18,000 CASHIER—With good personnel experience of $30MMKs. 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 SE £8 msâ “IT TAKES A BANKER TO KNOW ONE” TOM HAGAN & ASSOCIATES Box 12346, N.K.C., Mo. 64116 (816) 474-6874 Vol. 4 No. 48 Northwestern Banker Newsletter is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Moines, Iowa 50309. Subscriptions 25 cents per copy, $6 per year. Second class postage paid at Des Moines, Iowa. Address all Digitized forDes FRASER mail subscriptions, changes of address (Form 3579) manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PÉ xX ähd 1
@FedFRASER