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Vol. 15 No. 50 Des Moines, Iowa March 30,1987 Bank Groups Unite to Oust Title II FULL-SCALE effort to amend Title I I from the Senate Bank ing Committee’s S.790—the 1987 Competitive Equality Banking Act —was supported jointly last week ^ by the American Bankers Associaw tion, the Association of Bank Hold ing Companies, the Association of Reserve City Bankers, the Bank Capital Markets Association, and ^ the Consumer Bankers Association. Those five groups presented a united front of leadership and mem bership to Senators last mid-week who were getting ready to vote on 0 an amendment by Sen. John B. Breaux (D., La.) that would elimi nate Title I I from the bill. They co sponsored a full-page advertisement in the Washington Post March 19 • asking Senators to “ Reject Title I I . ” Title I I would place a one-year moratorium on Congressional consi deration of increased bank powers in the areas of insurance, securities • and real-estate products. The bill sponsored by Sen. Wm. Proxmire, (D.-Wis.) originally was aimed at al lowing banks to offer those services. Other parts of the bill address the • financial plight of the FSLIC fund (Title III ) by pumping $5 to $8 bil lion into that beleagured s&l insur ance fund, and also was aimed at curbing the non-bank banks from ex• pansion (Title I). In the days following Sen. Proximire’s proposal to the Senate Bank a A ^ ing Committee, which he chairs, committee members emasculated the bill. They changed Sen. Proxmire’s desired goal of cutting non-bank bank formation back to an earlier cutoff date previously agreed upon, and voted instead to leave prac tically all such institutions alive and well as of the day of their vote, a big defeat for Sen. Proxmire and for the banking industry. The moratorium on such institutions effectively grandfathered those currently in operation, although it limits them. In addition, Title I I was given a 180 degree turn by Senators who succumbed to intense joint lobbying by the insurance, securities and real estate industries and decided that instead of voting for increased powers, they would change Title II to impose a one-year moratorium against banks by postponing any ac tion for another year. This action moved A B A to change its support of the bill to opposition. A B A coordinated a “ fly-in” of nearly 100 bankers and state asso ciation executives during the week of March 16 to lobby heavily with their home-state Senators to delete Title I I or change it back to its origi nal state. Sen. Breaux’s amendment would delete Title I I from considera tion as part of S.790. Bankers persuaded the top three federal regulators to join them in a call for deletion of Title I I or for con sideration of expanded powers. A B A Bankers Weekly of March 24 quoted several newspapers and several state association leaders on their feelings about the bill, includ ing these comnients from N orth western B anker area bankers: • John A. Berg, Community Bankers Council vice chairman and president and chief executive officer, The Bank of Wayzata, Wayzata, Minn. “ I ’m concerned at the lack of competitive equity in the Proxmire bill. We are not looking for competi tive advantage, just looking for competitive equity with our compe titors. Instead of competitive equi ty, the bill singles out community bankers for discrimination. “ Many community bankers are not thinking of or not interested in offering new products or services, but we should have the opportunity if we want to and should not be locked out by congressional action.” • C.G. “ Kelly” Holthus, Commu nity Bankers Council member and president and chief executive officer, The First National Bank of York, York, Nebr. “ I ’m very disappointed. There isn’t anything in the bill for banking. “ The moratorium on additional services is really disappointing because a lot of banks want real estate and insurance and cannot do that for one year even though the big nonbank players—American Ex press, Merrill Lynch, Sears Roe buck, for instance—can. That puts After more than 120 years of providing correspondent banking services to the Midwest, you can say weVe had a chance to polish our trade. Find out for yourself. Count on Commerce. 1800 892*7100 1800 821*2182 - * https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * * (Outside Missouri) iu t Commerce Bank o f Kansas City 2 Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 N ORW EST BANKS Member FDIC Teamwork: one of the reasons we're first in Iowa. Dorothea Wolfe M ark Conway us at a competitive disadvantage. The bill is so unfair to bankers. I don’t know where the committee was coming from.” • Russell S. “ Russ” Howard Jr., Iowa Bankers Association president and chairman, Mahaska Investment Co., Oskaloosa, Iowa. “ We have really gone backward on this legisla tion. Sen. Proxmire’s reversal of his statements made to the A B A Bank ing Leadership Conference one month ago has really done banking a great disservice. “ W e've got to stop legislating against banks. W e’ve never asked for protection from our competitors, but only to be able to compete with them on an equal basis.” • Harvey H. Huber, North Dakota Bankers Association president and Jerry Trudo MNB Correspondent Banker Together We Can Accomplish Great Things Call 319-398-4306 or toll free 1-800-332-5991 Strength of \ Eastern J |owa_^f Merchants National Bank 1:1 Cedar Rapids. Iowa 52401 Member F 0 1C https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK president, Union State Bank, Hazen, N.D. “ I ’m angry and totally frustrated that banking has no re gard in [Washington, D.C.]. I ’m sur prised the closing of the nonbank bank loophole was as liberal as it is. “ Title I I seems like it was written by the real-estate, insurance and se curities industries. It does not make sense and does not seem to be well thought out by the Senate Banking Committee. I ’m asking [North Da kota Democrat] Sen. Kent Conrad to sponsor the amendment [to delete Title II] because it is good for North Dakota and it is good for the coun try.” • N.P. “Van” Van Maren Jr., W yom ing Bankers Association president and vice chairman, Hilltop National Bank, Casper, Wyo. “ I ’m disappointed. This is so far from what Sen. Proxmire talked about at the A B A Banking Leadership Con ference. There is no other way to talk about it. I don’t want banking to lose its options. We can’t afford to lose our options anymore.” Editorials were cited from the Chicago Sun-Times, The Cincinnati Enquirer, The Minneapolis Star and Tribune, The Dallas Times Herald and the Wall Street Journal, all sup porting the concept of increased banking powers to allow banks to compete as opposed to restricting competition on the other side. Kenneth A. Guenther, executive director of the Independent Bankers Association of America, which sup ports the bill in its present form in order to close the non-bank bank loophole, told the N orthwestern £ B anker on March 25: “ The conventional wisdom here is that if Title I I is defeated (by the Breaux amendment), then this will mean a clean FSLIC bill, which # would be a big defeat for Sen. Prox mire and would be the last chance to remove the non-bank bank loophole, and that would be disastrous.” Mr. Guenther explained by saying it i s # IB A A ’s feeling that if I I is stripped from the bill, the Senate would also delete Title I and make the bill ad dress only the emergency status of FSLIC. • By late afternoon of March 25 Sen. Breaux, who had addressed the FSLIC. Before Sen. Breaux presented his amendment to delete Title I I o n # Wednesday afternoon, March 25, Sen. David Boren (D., Okla.) pre sented a motion to delete both Titles I and I I from the bill, leaving it with Titles I I I (FSLIC rescue) through# VI. That motion was scheduled for consideration Thursday morning, March 26. □ FDIC Revises Capital Forbearance Guidelines ^ Charles E. Thacker, regional director of the FDIC, Kansas City; reported last month that FDIC has changed its guidelines on capital for- # bearance. Instead of the previous floor of 4% capital required to quali fy for the forbearance program, Mr. Thacker said that floor has been deleted in favor of leaving it to the dis- # cretion of the regional director to determine whether an applicant bank’s plan is viable. Iowa News • ITS, Inc. will sponsor its 1987 E FT Conference on April 15-17 at the Marriott Hotel in Des Moines. Among topics to be addressed a re^ E FT operations, marketing, infor mation on Regulation E and Iowa . Bond portfolios • working at full power. • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The performance of your bank’s bond portfolio is based on sound thinking and quality investments. Investments that will consistently work at full power to contribute to the earnings of your bank. Bond portfolio recommendations have been our specialty since the 1920s, and our track record is enviable. Although investment vehicles and markets have changed, we’ve maintained our high standards. The result is success for our customers and a reputation that precedes us. For confidential consultation about the benefits of investment banking at United Missouri, call (314) 621-1000. |y UNITED MISSOURI RANK of Kansas City, n.a. Member FDIC P.O. Box 419266 M Kansas City, Missouri 64141-9946 ^ SOUTH DAKOTA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? Are you FORCED to write one type of insurance with a company at a higher premium, just so they will write another type of policy for you? IF SO... PLEASE CONSIDER THIS We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM CALL OR WRITE KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 TOPEKA, KANSAS 66601 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mj (913) 234-2631 OWNED BY BANKERS SERVING BANKERS F irs T ie r 3 Corrospondont SGrviCGS of what it takes to serve you well. FirsTier, B anks Lincoln • Omaha FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC w Code 527, IT S ’s E FT efforts in Il linois, the National Automated Clearing House Association, and a recent B A I survey on quality ser^ vice. Registration begins at noon on the 15th, with sessions running from 2:00 to 5:00, followed by a reception. On the 16th there is a continental breakfast at 8:00, lunch from 12:30 0 to 2:00, and sessions from 9:00 a.m. to 5:00 p.m. In the evening there is a reception at 5:00 followed by dinner at Babe’s restaurant. On the 17th continental breakfast is at 9:00, ses• sions from 10:00 to 12:30 and lunch from 12:30 until 1:30. Fee is $150 for the first registrant, $100 for the sec ond for the members; $200 for the first registrant, $150 for the second 0 for non-members. ^ ^ ^ 0 £ K E A R N E Y : Ronald H. Bielenberg has been appointed city executive in charge of the Kearney branch of FirsTier Bank Omaha. He joined FirsTier in February. He formerly was executive vice president and chief administrative officer at Platte Valley State Bank and Trust Com pany of Kearney. Minnesota News North Dakota News BISM ARCK: Warren L. Hintz has been elected vice president/lending officer at First Bank Bismarck. He began his career with First Bank Minot in 1965, and most recently held the position of senior vice presi dent and senior credit officer at First Bank Jamestown. B L O O M IN G T O N : M etropolitan Bank and The Bank of Minneapolis Colorado News and Trust Company have announced Deluxe Check Printers invite in that the latter will be acquired by dependent bankers of Colorado to a and operated as a branch of Metro breakfast meeting at 15 locations in politan Bank Bloomington. The April to learn about their new cus transaction will be finalized upon ap tom check program. The meeting proval by the FDIC. Total assets of runs from 8:00 to 10:00 a.m., fea the combined banks will be over tures a full breakfast, and is free. K A N A W H A : James E. Malien, pre $160 million. Dates and locations are: 1st—Gree sident of Farmers State Bank, was Illinois News ley Heritage Inn, 2nd—Sterling convicted March 24 on two counts of W E S T F R A N K F O R T : A n d y Holiday Inn, 3rd—Aurora Doublefederal felony charges for failing to Rogers, 52, chairman and CEO of tree Hotel, 7th—Colorado Springs disclose that he had financial in First Community Bank since Aug Antlers Hotel, 8th—Denver Regen terests in ventures outside the bank ust 4,1986, died March 15, five days cy Hotel, 9th—Limon Fireside, and for falsifying information he after he had been diagnosed with 10th—Las Animas Bent’s Fort Inn, submitted to the FDIC in 1982. The cancer. Mr. Rogers had apparently 14th—Pueblo Holiday Inn, 15th— case was heard in U.S. District been ill only three to four weeks Burlington Econo Lodge, 16th— Court starting March 16 by a 12- prior to his last hospitalization. A Durango Strater Hotel, 17th—Ala member jury. native of New London, la., where he mosa Inn, 21st—Grand Junction began his banking career, Mr. Hilton Hotel, 22nd—Montrose Vil Nebraska News Rogers worked at Farmers Savings lage Inn Restaurant, 23rd—GlenHarley D. Bergmeyer, president Bank in Mineral Point, Wis., before wood Springs H otel Colorado, of the Saline State Bank in Wilber, joining The First National Bank of 24th—Steamboat Springs Overlook was nominated for the position of Galena, 111., in 1974, where he served Inn. To register or for more infor president-elect of the Nebraska as executive vice president before mation, cedi the Independent Bank Bankers Association for 1987-88 by moving to West Frankfort last Aug ers of Colorado office at (303) the nominating committee in its re ust. 480-1856. port to the recent N B A executive committee in Kearney. Mr. Harley’s name and those of the eight nomi Offer you 342 years of combined consulting nees to the executive council will be experience. Let us help you diagnose your problems submitted to the N B A membership and project a better future. for election during the convention May 15 in Lincoln. Jack C anaday and Associates, Inc. # ___________ M A N A G E M E N T , Call: <402) 551-7005 A Meeting O f The Minds. INC. At Security National Bank, our minds are on meeting all your Correspondent Banking and Investment needs. Consultant to Bankers • Loan Review and Credit Administration W e’re Security for you! • Profit Planning 773 Spruce Street P.O. Box 159 Ocheyedan, Iowa 51354 Phone: [712] 758-3440 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ron Kiel Linda Rodehorst Correspondent Banking Officer 712-277-6736 Investment Representative SECURITY NATIONAL BANK IN SIOUX CITY, IOWA. MEMBER F.D.I.C. 712-277-6745 4 POSITION AVAILABLE EVP • $91 MM bank. Overall bank functions. 10 yrs exp. Develop, implement, supervise and document policies. Position leads to PRES/CEO. Send resume to File No. WIF c/o Northwestern Banker. (PA) VICE PRESIDENT • LOAN OFFICER. N.E. Iowa bank is seeking someone with five (5) or more years experience in Ag & Commercial Loans. Must possess people skills. Posi tion currently open. Can develop into an E.V.P. position in the future. Excellent career opportunity. Send resume to File No. WIL c/o Northwestern Banker. (PA) VAULT DOORS • Modular Vaults. American Bank Equip ment, Inc. 402-571-5621. A sensible alternative. Serving the banks of Nebraska and Western Iowa. Sales - Service - In stallation. (FS) NEW OPPORTUNITIES AG LOAN position for a promotable ag lender with several 4 ) years experience................................................................... To$30,000 INSTALLMENT LENDER with two or more years experi ence. Scenic Midwest community...................................... To$25,000 COMMERCIAL LOAN POSITIONS. Prefer college grads with two to five years experience............................................ .................................................................................. To $35,000 EDP AUDITOR with two or more years EDP audit expert- ™ ence. IBM, DOS, MVS............................................................To$30,000 Financial Careers (Division of Freeland Financial Service, Inc.) 1010 Equitable Bldg. Des Moines, IA 50309 515/282-6462 Employer pays fee. SHARP BE 3500 TELLER MACHINES. Call: 319-377-7331. (FS) ^ ^ Please contact Lorraine Lear concerning these and other Midwest banking opportunities. POSITION WANTED CEOfSENIOR LEVEL MANAGER. 10 years experience In dependent & multi bank holding company. Strong credit skills. Experience & formal training In trust, investment, EDP, & operations. Interested in performance & growth oriented company. Prefer location in or near community of 20,000 + . College town Ideal. Contact Tom Spread at (815) 244-2102. (PW) POSITIONS AVAILABLE EXECUTIVE VICE PRESIDENT Are you ready for a major mgmt position with a holding co? A small bank 30 minutes from the Twin Cities needs a loan administrator to manage the lending function. Must be degreed and have 4 + yrs ag lending exp with the abili- $ $ ty to manage. A super opty to spring your career forward! To$40K. Job #NW1384. SR LENDER COMMERCIAL LENDERS NEEDED Increased demand for experienced commercial lenders in $75-$200mm banks in IA, IL, KS, NE, and other attractive midwestern locations. Posi tions Include: EVP: 10-20 yrs. exper. Supervise 6 CLO’s. $55,000 SR. L.O.: 7-10 yrs. exper. $35-$45,000 VP: 5 yrs. exper. $35,000 COMM. L.O.: 2-4 yrs. exper. $25-$30,000 Also several smaller banks in need of ag/commer. lenders, offering good growth potential and op portunity to learn overall bank management. All inquiries strictly confidential; no contacts made without your knowledge and consent. Fees paid by employers. AGRIcareers, Inc. Banking Division 712-779-3567 515-394-5827 P.O. Box 140 P.O. Box 307 Massena, IA 50853 New Hampton, IA 50659 Are you a good ag lender who has been passed over for mgmt opty’s? If you have 4 + yrs ag lending exp and strong analytical ability this career climbing chance could * * be yours! This position will manage the lending function w of a $15mm bank part of a profitable bank holding co in central Minn. To$38K + Car. Job#NW1385. AG LENDER Do you want to live in a major hub city within 1 hour of Mpls? A well performing bank group needs a community motivated ag lender to Join a $40mm bank. This opty pro- £ vides excellent visibility and career pathing that will keep you challenged. Desire 2 + yrs ag lending exp, knowledge of FMHA, a degree and the ability to handle consumer loans. To$30K. Job#NW1386. FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR JEAN TODD £ R O B E R T MffVLF OF MMNESOTA,MC. accounting, financial and edp personnel specialists 3636 IDS Center Minneapolis, MN 55402 CHOOLER In ASSOCIATES (612) 339-9001 ALL FEES COMPANY PAID "S u ccessfu l B anking is Q uality P erson nel" POSITIONS AVAILABLE POSITIONS AVAILABLE AG LOAN OFFICER Now Is the time to make your move. Lrg bank in excellent metro area seeks 3 + yr ag lender who seeks oppty. Offers several paths to grow through. Long-term is to dept. head. $30K. CONS LOAN OFFICER Are you tired of driving an hour to see movies, sporting events and shops? City bank needs banker w/2 yrs cons lending. Strong retail bank has excellent portfolio. $32K. SR. L.O. County seat bank in recovering ag area seeks #2 person. Top candidate will have 5-7 yrs banking in $35m+ bank, good documentation skills and comm’l/ag background. $39K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS R O B E R T H A LF accounting, financial and edp personnel specialists ® 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID CEO, $40mm solid ag bank, desirable location, pleasant surroundings........................... $45-$50,000 PRESIDENT, $15mm bank, very clean, small town atm osphere............................................$45-$50,000 TRUST ADMINISTRATOR, quality institution, col lege to w n ................................................$25-$30,000 COMMERCIAL LENDER, reputation bank, $175mm + , college town........................$35-$40,000 COMMERCIAL REAL ESTATE LENDER, projects up to $5mm, business developer ............... $40,000 P O S IT IO N S A V A I L A B L E CEO • suburban de novo bank. Experience as CEO or COO required. Strong commercial loan and business develop ment skills desired. Open A #2 MAN, HEAD LENDER, $40mm, recreational area, primary a g ............................................$35,000 LOAN REVIEW - large urban bank affiliated with major midwestern holding company. Degree and 2-3 yrs. loan review/workout experience desired. $30K SVP, Excellent town, top organization, one rated, $50mm ...................................................$45-$50,000 TRUST OFFICER ■ medium size community bank with growing trust dept. JD preferred but not mandatory. $27K CHIEF EXECUTIVE, $10mm, pop. 1,000, agoriented ................................................ $30-$35,000 COMML LOAN - $100MM community bank. Supervise commercial lending function. Future advancement possible. $45K AVP, COMMERCIAL LENDING, $100mm, mid-mar ket, college town ...................................$30-$35,000 SRVP AG, Management & administration back ground, excellent frin g es .............. $75-$100,000 + DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417)882-2265 ® COMML LOAN • $50MM suburban bank with excellent growth and earnings history. Handle majority of commer cial credits. Report directly to President. $38K ^ V Additional positions available in midwestern states for experienced bankers. T O M H A G A N & A S S O C IA T E S 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 A “ Serving the Banking Industry Since 1970” Voi. 15 No. 50 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden 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 mall subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis £
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