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March 31,1986 Des Moines, Iowa Vol. 14 No. 50 Senate Backs Regulators The Senate Banking Committee on March 26 unanimously approved a measure that supports proposals made recently by the three federal bank regulators for easing capital standards and allowing hard-hit ag and energy loan banks to use FASB 15 to amortize bad loans over a fiveyear period. The Senate bill also contained a “sleeper” by imposing a 90-day moratorium on chartering of non bank banks by federal authorities. Also, by imposing the same mora torium on the FDIC and FSLIC for insuring such in stitu tion s, the Senate effectively closed the door for 90 days on those who would al ternatively seek a state charter. Fed Vice Chairman Resigns Federal Reserve Vice Chairman Preston Martin has announced he will resign at the end of April, or once a successor is appointed. He plans to return to the private sector in San Francisco. His term expires the end of March. According to Mr. Martin, he cannot “commit to serve another four years as vice chair man.” A t the press conference he also m in im ized a reported split on the Fed board over the recent de crease in the discount rate to 7%. Iowa News Rules governing Iowa's new 3% interest rate buy-down provision for qualifying farm borrowers were given to ag lenders last week. A $5 million pool of funds was enacted by the state legislature and the bill signed into law by Gov. Terry Branstad recently. The fund is handled through the Iowa Agricultural Loan A ssistance Program, known pre viously as the Iowa Family Farm Development Authority, and Wil liam Greiner continues as its execu tive director. The Iowa program has two levels. A t Level One, the state will add up to 3% interest rate buydown to the new FmHA program, which calls for up to 2% write-down by both FmHA and the lender. If the proposed loan won't cash flow at the 4% write-down, but will do so with the additional funds from the state, then the loan can be written down on interest for a maximum of 7%. A t Level Two, if FmHA does not parti cipate for whatever reason, the Iowa program will match the lender's write-down of interest up to 3% each, a total of 6%. The loan does not have to cash flow, but does have some minimum requirements. Additionally, the borrower must agree to a financial analysis by Iowa State or a comparable source to de termine a financial plan. This may include the selling of some assets to remain viable. This analysis is not required before the Iowa-lender write-down is put in place. All Iowa banks have been given the rules for the new program. # * # An amendment was being con sidered in the Iowa legislature late last week to H.F. 2446, known as the Financial In stitu tion s Omnibus Package. That bill, passed by the House would allow emergency ac quisition of a failed Iowa bank by an out-of-state bidder if no bidders were found from within the state. The amendment would add a failed multi-bank holding company that is in Chapter XI, provided that the en tire holding company is sold. Buyers could come from contiguous states, as well as Ohio, Michigan, Indiana and Kentucky. Both the IBA and IIB appeared willing to accept the amendment. AMES: Richard Fischer has been named executive vice president of United Bank and Trust of Ames. He will supervise all lending. Gene Loverink was appointed senior vice president and cashier and will head up the bank's operations division. MASON CITY: Among recent staff changes at Norwest Bank Mason City was the naming of Dennis Fryar as vice president and manager of the commercial department, re placing Grant Barton who has re signed. Mr. Fryar's successor as manager of the agricultural depart- SPRENGER, ROWLAND ANDM ESSNA Bill Sprenger Frampton Rowland Dutside Missouri call 1-800-821-2180 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis John Messina In Missouri call 1-800-892-7100 im i Commerce Bank o f Kansas City Memher FDIC * following slate of nominees for the new three-year term on the Execu tive Council: Gp. 2—Glenn Adair, president, Springfield State Bank. Gp. 4—Sam Baird, president, Farmers State Bank & Trust, Su perior. Gp. 6—Lew Mehling, president, American National Bank, Sidney. Gp. 7—Gene Zaloudek, president, Omaha State Bank. 2 ment is James Morrow, vice presi chairman of Farmers & Merchants dent. Savings Bank of Waukon, the bank has named Ed Lauerman, Jr. as SIOUX CITY: Security National president and Isabel C. Jacobson as Bank will hold its ninth annual Se chairperson. Mr. Lauerman has curity Financial Seminar, “It’s Your spent the last 12 years as executive Money,’’ on April 13 at the Marina vice president and managing officer Inn in South Sioux City, Nebraska. of the bank. Mrs. Jacobson is the A t 6:00 p.m. Security financial coun late president’s widow and has been selors will be available for consulta on the board since 1966. tion. A t 7:00 Judith Briles will pre sent “Money Phases,” and at 8:00 WILLIAMS: Iowa Falls State Bank Paul Strassels will speak on “Tax in Iowa Falls purchased certain Savers.” A reception will follow at assets and assumed deposits of the 9:30. Tickets are $15 in advance and W illiams Savings Bank after the lat $17.50 at the door. Contact Security ter bank was declared insolvent National Bank, P.O. Box 147, Sioux March 20 by Iowa Superintendent City, IA 51101 or (712) 277-6500. of Banking William R. Bernau. As receiver, FDIC accepted the Iowa WAUKON: Because of the death of Falls State Bank bid of $51,000. Arthur H. Jacobson, president and Iowa Falls State Bank assumed all of the W illiams Savings Bank de posits of $11.7 million, as well as taking over selected loans. FDIC re tained the balance of the loan port folio. Iowa Falls State Bank opened the failed bank the following day, March 21, as an office of Iowa Falls State Bank. ASK GARY B A R TLE TT to make MNB work for you. Toll free 1- 800- 332-5991 Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OMAHA: FirsTier, Inc. Chairman John D. Woods and President Wil liam C. Smith announced March 20 that Omaha National Bank and First National Bank & Trust Co. of Lincoln, both of which are part of FirsTier, Inc., will change their names on April 22. Omaha National will become FirsTier Bank, N.A., Omaha, and First of Lincoln will become FirsTier Bank, N.A., Lin coln. In addition, the holding com pany’s other bank offices in Grand Island, Kearney and Blair will adopt the same name, with the city identi fication of each after the name. The David City office assumed the new name when First National of David City was purchased in January by First National Lincoln. STRATTON: A t the Commercial Bank, Bill D. Zahl has been ap pointed president and CEO, replac ing Robert N. Kehr, who retired as of January 1. Mr. Zahl is succeeded as vice president by Richard C. Bem t, who joins the bank from his former position as a branch manager with the Production Credit Associa tion. Nebraska News North Dakota News Donald E. Blaha, president of the First National Bank in Ord, has been nominated for the position of president-elect of the Nebraska Bankers Association for 1986-87. The NBA Executive Council veri fied his selection at its recent meet ing in Kearney, also approving the BISMARCK: Steven D. McLaen has joined Norwest Bank Bismarck as vice president—manager agricul tural loan department. He previous ly served for six years as a senior loan officer/appraiser for the Farm Credit Services of Bismarck/Mandan. t's easier to talk Iowa banking with people who live it — people like Donald H. Jordahl and the cor respondent staff at Bankers Trust. I C all 1-800-362-1688 or 515/245-2424. Bankers Trust Des Moines, IA Member FDIC Donald H. Jordahl Vice President Since the 1920s United Missouri Bank has been advising banks on the management of their bond portfolios. These timely recommendations have a history of sound logic and a positive contribution to bank earnings. Whether short- or long-term, we expect the strategies we recommend to be successful. Why? Because we continually update ourselves about the economy, the market and changes in the banking industry. So for quality recommendations that are engineered for high performance, contact our Investment Banking Division. Call (816) 556-7200 today. lb • U N IT E D M IS S O U R I B A N K of Kansas C ity, n.a. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.O. Box 226 Kansas City, Missouri 64114 Supplement to Northwestern Banker Newsletter 3-31-86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 3-31-86 P r e s id e n t USA I n d e p e n d e n t Box 1111 B ank A n y w h e r e , M id w e s t D e a r P r e s id e n t : A re yo u in t e r e s t e d in : 1) A d d i n g p r o f i t w i t h l i t t l e e x p e n s e - p o s i t i v e i m p a c t o n RETURN ON A SSETS (ROA); 2) P o s i t i o n i n g y o u r b a n k a s a f u l l -s e r v i c e f i n a n c i a l i n s t i t u t i o n BY EX PA N D IN G YOUR SERVICE AND PRODUCT LINES; 3) A t t r a c t in g n e w h ig h n e t w o r t h c u s t o m e r s w it h t h e ir DEPOSITS AND GROWING NEED FOR OTHER BANKING SERVICES; 4) K e e p in g p r e s e n t c u s t o m e r s fr o m t a k in g t h e ir d e p o s it s to M e r r il l L y n c h , E .F . H u t t o n , P ip e r J a f f r a y & H o pw o o d and E d w a r d D . J o n e s - y o u r c o m p e t it io n ; 5) P r o v id in g a s o l id f o u n d a t io n f r o m w h ic h to e x p a n d in t o OTHER SERVICES AS DEREGULATION CONTINUES, AND SHOULD THE G L A SS-ST E A G A L L ACT BE AM ENDED; J o in o t h e r b a n k s t h a t a r e c o n t r a c t in g w it h T h e I n v e s t m e n t C e n t e r s TO PROVIDE A COMPREHENSIVE FINANCIAL SERVICES PACKAGE. Y O UR CUSTOMERS WILL B E N E FIT FROM THE EX PA N D ED SERVICES. T H E PROGRAM WILL MAKE THEM AWARE THEY CAN SATISFY ALL THEIR N EED S AT THEIR OWN BANK , AND YOUR BANK CAN SHARE IN THE R EV EN U ES. R E V E N U E S THAT ARE LEAVING YOUR BANK. O u r b r o a d r a n g e o f s e r v ic e s c a n b e t a il o r e d to f it t h e p a r t ic u l a r N E E D S OF YOUR BANK , YOUR CUSTOMER B A SE , AND YOUR TARGET MARKET. I f YOU ARE INTERESTED IN A PRESENTATION OF WHAT WE DO, RETURN THE ENCLOSED B U S IN E S S REPLY CARD. S in c e r e l y , E. T h o m a s P r e s id e n t G u n d e r s o n , CFP First Dakota Bldg. • P.O. Box 2796 • Bismarck, North Dakota 58502 • (701) 255-6060 • Toll Free 1-800-732-2363 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Call on the “ Experienced Professionals” ^F irsTie r Banks Ready to m eet your correspondent needs. Minnesota News In its rush to complete an ag assistance bill before adjournment date, the Minnesota legislature en acted a bill, signed immediately by Gov. Rudy Perpich, that Minnesota bankers term a “disaster.” While bankers were supporting interest rate buy-down and debt restructur ing provisions of the bill, and were willing to accept a limited time mediation process of 44 days, the final language in the bill was changed the last night. In doing so, the bill now says the application pro cess can take up to 44 days, another 60 days is added for mediation, and then a lender cannot make any move for another 90 days, a total of 194 days. Bankers say this was a mis take in language. It was to have stated the 90-day period commences with initiation of the mediation ap plication process; however, the bill reads at the conclusion of mediation. Additionally, if any one of the creditors acts in bad faith, that will be cause for court action and delay the whole process further. One evi dence of bad faith would be if a lender refuses to provide credit for living expenses during the media tion period. The bill reportedly was aimed at the FCS but wound up including all banks in its language. The Minne sota Bankers Association says it will demand repeal of Article I of the bill, the portion covering mediation, The legislature will hold a special session sometime this week, or pos sibly next, to deal with the state budget and it is hoped to have repeal considered at that session. ALBERT LEA: Daniel L. Brady has been elected president of First Bank Albert Lea. He succeeds Waldon A. Jensen, who has taken a credit man agement position with First Bank System in Bismarck, N. Dak. Mr. Brady m ost recently served in a credit management position for First Bank System in Rochester. LAMBERTON: After Farmers and Merchants State Bank of Lamberton was closed March 14 by Michael Hatch, Minnesota Commis sioner of Commerce, the FDIC ap https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis First National Lincoln Member F D I C 13th & M Streets, Lincoln, Nebraska 68501 proved the transfer of the failed bank’s $15.2 million deposits in 3,500 deposit accounts to American Bank of Mankato. The failed bank’s one office reopened Monday, March 17 as a branch of American Bank of Mankato. All deposits are within the FDIC insured lim its of $100,000. American Bank paid a premium of $61,986 and will purchase other as sets of the failed bank for $9.5 mil lion. T rust Com pany of A rlin gton Heights as vice president/cashier and security officer. He comes from Illinois Marine Bank, Clarendon Hills. LOMBARD: Bruce W. Taylor has been named executive vice president of the Bank of Yorktown. He was formerly senior vice president of the bank. He will continue to head the commercial and real estate lending departments and will assume addi MINNEAPOLIS: Norwest Bank tional responsibilities to be an Minneapolis has named Edgar M. nounced later. He joined the bank in Morsman, Jr. to the new position of 1983. senior vice president and chief lend ing officer for corporate banking ac tivities in the Twin Cities area. He ROCKFORD: Colonial Bank of had been president of Norwest Bank Rockford has changed its name to AMCORE Bank Colonial. It will re Rochester since 1982, and in 1984 was elected to the additional posi main a separate entity from AM tion of chairman and CEO of Nor CORE Bank N.A. of Rockford. Wil liam N. Steinhagen has been elected west Bank Dodge Center. chairman. He has been on the board ROCHESTER: John C. Mulder has since 1984 and is president of Rock been elected president of First Bank ford Automation, Inc. Rochester, succeeding Randolph S. Koppa, who has taken a position as a vice president in First Bank St. South Dakota News Paul’s corporate banking group. Mr. The Sunrise Group of the South Mulder joined First Bank System in 1985 as vice president of regional Dakota National Association of credit for the company’s southeast Bank Women has announced its 1985-86 officers. They are: presi ern Minnesota affiliates. dent—Jan Skyberg, Norwest Bank, ST. PAUL: Norwest Bank East St. Sioux Falls; vice president—Linda Paul has elected Thomas W. Longlet Shane, Citibank, Sioux Falls; mem as president. He has been with Nor bership chair—Joanne Ross, Dakota west banks since 1973, m ost recent State Bank, Big Stone City; scholar ly in commercial lending and com ship and awards chair—Maxine mercial services at Norwest Bank Brown, Dakota State Bank, Colman; St. Paul. public affairs chair, Paula Jons, Nor west Bank, Sioux Falls, and educa Illinois News tion and training chair—Suzan ARLINGTON HEIGHTS: Craig J. Gass, First Dakota National Bank, Fahrner has joined The Bank & Yankton. We're Security for You At Security National Bank, w e’re people you can count on to handle all of your Correspondent Banking needs. So, start corresponding w ith us. We’re Security for you! Wilma Weeks Correspondent Services O fficer 712- 277-6769 SECURITY N ATIO N AL BANK IN SIOUX CITY, IOWA. MEMBER F I ) I C ‘ Applications, supervisory requests and other management services SW ORDS ASSOCIATES. INC. P R O FES S IO N AL BAN KING C O NSULTANTS 4900 OAK SU ITE 301 KANSAS CITY, MO 64112 (816) 753-7440 QUALIFIED BANKERS If you plan to add to your staff, please contact us for infor mation on one or more of the following quality bankers: CEO with 34 years of experience In larger banks. Most re cently served as the CEO of a major midwest banking or ganization. A specialist In handling large lending lines . . . ..................................................................... Salary Negotiable. CEO with 15 years experience In suburban bank. College grad with particularly strong skills in real estate and com mercial lending .............................................. Sal ary $45,000. CEO with 10 years experience. Graduate of Iowa State. Oriented to ag lending and community b a n k ....................... ......................................................................... Asking $40,000. CEO of $50 million bank. MBA in marketing and finance. Workout specialist ..................................Salary Negotiable. CONTROLLER of major midwest bank. MBA in finance. 5 years with present em ployer...................... Asking $50,000. CONTROLLER in $200 million bank. CPA degree. Ten years experience .......................................... Asking $40,000. EXAMINER/AUDITOR with college degree, now serving as EVP of community bank. Excellent background ................. .......................................................................... Asking $43,000. COMMERCIAL LENDER with 16 years experience In larger banks. SUI grad in economics. Will travel as correspon dent ................. Asking $40,000. SENIOR LENDER In $100 million bank. Examlner/audltor background......................................... Asking $40,000. AG LENDER with 10 years experience and Iowa State De Asking $30,000. gree. Farm background ! ........ CPA now auditing banks for established firm. Will relocate and travel.................................. Asking $25,000. AG LENDER with three years experience and nine years on the farm. Iowa State Grad ............................ Asking $25,000. SENIOR AG LENDER in $60 million bank. Iowa State Grad. Prefers Central Iowa lo ca tio n ..................................... Asking$38,000. document bank policies. Assignment shared with president and bank officers. Send resume to File No W EG c/o Northwestern Banker. $55MM Northeast Iowa Bank needs an experienced EX ECUTIVE VICE-PRESIDENT. Send resume to W EA c/o Northwestern Banker. (PA) SENIOR M AN AGEM ENT position In small, but growing, Colorado bank. Must be experienced In commercial lend ing. Send resume to file WEL, c/o Northwestern Banker. ____________________________________________________ (PA) VP RETAIL BANKING DEPT. $200M N.E. Iowa bank has opening for someone to head up Its retail banking dept. This successful applicant will have a background In con sumer lending & administration. Salary open. Send re sume to File No. WEO, c/o Northwestern Banker. (PA) $10M bank, S.E. South Dakota needs willing & progressive 8ECO ND MAN. 2-3 years consumer lending experience re quired. Send resume to File No. W E T c/o Northwestern Banker._____________ (PA) VICE PRESIDENT of Southern Iowa Bank Ag/Comml/lnstll/ Lending capabilities required - aggressive community. Send resume to File No. WEV, c/o Northwestern Banker. ____________________________________________ (PA) COM M ERCIAL LOAN O FFICER at First American Bank of Breckenrldge, Breckenridge, MN. Requires a minimum of 3 years commercial loan experience. Some real estata lend ing exposure helpful. Send resume In confidence to Don R. Hass, Pres. & CEO, First American Bank of Breckenrldge, P.O. Box 218, Breckenrldge, MN 56520. (PA) POSITIONS AVAILABLE BANK A C C O U N TA N T Excellent location near big city offers best of rural life plus metro culture. Acctg degree, fln’l reporting exp., audit exp., computer knowledge and 2 + yrs In bank needed. S25-30K. SR AG O FFICER Key position to profitable bank’s future. Offers presidency within 5 yrs for this $40m + facility. Part of very successful holding co near metro area. Career making oppty for indiv with good ag knowledge and 5 yrs exp In a bank. $35K. FOR FURTHER INFORM ATION FOR TH ES E & O TH ER POSITIONS RESPOND IN CONFIDENCE TO : KURT ROSENCRANTS 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 WORLD'S LARGEST BANKING, ACCTG & EDP SPECIALISTS A LL FEES COM PANY PAID rEXAS INVESTORS Interested in acquiring a midwest fi nancial Institution with real estate and Insurance agency, ksset size from $5M to $150M. Send replies to File No. l/VEQ c/o Northwestern Banker. (W TB) IBM-AT, MICRO NCR 7760-1100 Proofs Bankers Elec. Equip. Inc., Grand Island, Ne. 68801. Phone (308) 384-5995. (W TB) FUNDS M AN AGEM ENT SPECIALIST with four years ex perience in major bank. College Grad. Married ................... ........................................................................Asking $30,000. Freeland Financial Service 1010 Equitable Bldg. Des Moines, IA 50309 515/282-8482 Employer pays fee. Please contact Malcolm Freeland concerning these quali ty applicants or for other types of banking officers. Serving bankers quietly and efficiently. POSITIONS AVAILABLE CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 COMMERCIAL LENDER - $170MM IL bank. Man agement potential. To $45K. AG LENDER - $55MM IÀ bank. Need career ori ented Individual with min. 2 yrs. exp. To $30K. R egency TO N -fic H O n t-F -R Ir AND I P RECRUITERS. INC. ASSOCIATES "Successful Banking is Quality Personnel" POSITIONS AVAILABLE SENIOR VICE PRESIDENT over lending, $85mm clean bank located within 1.5 hour drive from city ............................................................................ OPEN C O M M E R C IA L S E N IO R V IC E P R E S ID E N T $100mm bank, employee stock options, excep tional benefits, appealing location___ to $50,000. IN STALLM ENT HEAD for a $8mm department, very clean reputable bank located within 1 hour drive of city ...................................................$30,000. CORRESPONDENT BANK O FFICER traveling one-half of time, excellent bank, 1-2 years of bank ing experience ................................................. OPEN EXECUTIVE VICE PRESIDENT leading to PRESI DENT, $60mm bank in an extremely progressive town of approximately 8,000....................$40,000’s. COM M ERCIAL LENDER in an $80mm bank In a college town, business development and commu nity Involvement ...........................................$40,000. VICE PRESIDENT, COM M ERCIAL excellent bank $85mm, nice town, requires technical commercial lending s k ills ................................................. $50,000. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 66804 (417) 882-2286 Diane Evans. 1102 Grand Avenue, Kansas City, MO 64106 816/842-3860 POSITIONS AVAILABLE LOAN REVIEW • lead bank of major mldwestern holding company. Requires degree and minimum of two yrs. loan review experience in large bank environment. $28K COMML. LOAN •$100M suburban affiliate of large multi bank holding company. Strong technical skills and 3 yrs. or more experience. $30K INSTL. LOAN •manage consumer department for $80MM suburban bank. Ideal candidate will have five yrs. Instal. lending background Including dealer paper. $30K CEO •small rural bank located close to recreational area. Work out situation. Ag credits not the problem. $38K AGRI LOAN • primary responsibility for all Ag credits In $25MM community bank. Assist with commercial loans. $35K Additional opportunities available. Resume requested. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ S erving the B an king In d u s try Since 1970” Voi. 14 No. 50 Northwostom Bankor Nowslottor (USPS 873-300) la published weakly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Dee Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second class postage paid at Digitized forDea FRASER Moines, Iowa. Addreaa all mall aubacrlptlona, changes ot address (Form 3579), manuscripts, mall Items to above addreas. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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