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Vol. 13 No. 46 Des Moines, Iowa FDIC Responds to Critical Article o l l o w in g publication of our purpose of such activity is said to be to im press Washington with the severity of condi tions in the agricultural economy; or, if that scenario strains credulity, to perpetuate ex aminers’ jobs by artificially expanding their workload. “Bank Exams Are Getting F article, Tougher,” in the January 14 issue of the Weekly Newsletter; we mailed a copy of the issue with a letter to FDIC Chair man William H. Isaac. In closing that letter we said, “Frustrations and accusa tions, whether deserved or not, are blur ring the perception of your staff and the job they’re assigned to do. If you or one of your professional staff can give us something to clarify those perceptions, we will publish it in a featured position in the N orthwestern B anker monthly magazine or our Weekly Newsletter. ” The response came from Alan J. Whit ney, Corporate Communications Officer of the FDIC and, as promised, is printed here in its entirety. Ben Haller, Jr. Publisher Mr. Ben Haller, Jr. Publisher Northwestern Banker Newsletter 306 Fifteenth Street Des Moines, Iowa 50309 Dear Mr. Haller: Your article entitled “Bank Exams Are Get ting Tougher,” (Northwestern Banker, Janu ary 14,1985) demands a response. The article misstates the facts, lacks any semblance of balance, and appears to have been designed to inñame rather than inform. In short, it will never be mistaken for an example of respon sible journalism. The article strongly implies, through the se lective presentation of unsubstantiated re marks and opinions of two anonymous bank ers, that FDIC examiners are arbitrarily downgrading and classifying agricultural loans to cause banks to fail. The ostensible Your article not only impugns the integrity of the FDIC and its professional examiners, but it also reflects a lack of understanding or appreciation of the problems in the agricul tural sector, as well as a misperception of the duties and responsibilities of the FDIC in its role as a bank regulator. With respect to the alleged downgrading and classification of loans, you contend that FDIC examiners are arbitrarily and unjusti fiably lowering collateral values. To support this contention, you note reports that exami ners have accorded a value of $1,900 per acre for farmland in North Central Iowa and valued machinery at 60 percent of purported current value. These allegations need to be assessed both in light of the facts and with some understanding of the loan review pro cess. When examiners review a loan or line of cred it, they adjust unrealistic and unsubstanti ated values accorded assets by the loan cus tomer or the bank to reflect current market values. These values are assigned for analy sis purposes only in determining, among other things, the true net worth of the bor rower. In situations where the loan servicing ability of the borrower or liquidation value of collateral do not support a loan and a loss is apparent, charge-offs are required to be re cognized by the bank. The values assigned to collateral by FDIC examiners are based on the marketplace as indicated by recent sales and discussions with knowledgeable bankers, businessmen, and administrators of various farm programs March 4,1985 and agencies. The process is extensive and balanced; it is not arbitrary or capricious. An article in the December 21, 1984 edition of the Des Moines Register, entitled “Iowa Farmland Values Plummet,” reported on the results of an annual study by Iowa State Uni versity. The study reports an average cur rent value of $1,716 per acre for farmland in North Central Iowa, a strong indication that the $1,900 per acre value assigned by the FDIC examiners is both realistic and fair. The theory that FDIC examiners are bearing down on banks to preserve their jobs and bring the problems in agriculture to the atten tion of Washington and their bosses insults the integrity of the examiners and the intelli gence of your readers. No bank, agricultural or other wise, is ever closed by the FDIC. The decision to close a bank is always made by the state banking department or the Comp troller of the Currency, based on their own examination reports. Your article also states that Chairman Isaac of the FDIC is insensitive to the plight of smaller banks, favors the large ones and re putedly said that the FDIC could handle a small bank failure per day without causing unmanageable strain. Mr. Isaac has made a statement similar to that one on many occa sions in training sessions for FDIC ex aminers. His clear point was that the FDIC needed to monitor much more closely the ac tivities of large banks and press for higher capital ratios in larger banks because those banks represent the most significant poten tial threat to the FDIC. Completely contrary to the implication in your article, he was arguing for more aggressive supervision of large banks. He was certainly not saying that small bank failures are desirable or pain less. In sum, to insinuate that the FDIC and its examiners would arbitrarily classify credit for the purpose of closing banks for job pro- ASK LYNN WHITEMAN to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis is i Norwest Bank Des Moines, N.A. NORW EST BANKS Serving bankers quietly and efficiently. Call (515) 245-3131 or toll-free (800) 362-2514 M em ber FD IC CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 Teamwork: one of the reasons we're first in Iowa. M ark Conway tection is absurd. The accusation reflects poorly on the individuals making it and indi cates that they have little appreciation for the problems, have chosen to ignore them, or are merely searching for a scapegoat for their own inadequate lending/management prac tices. The failure to acknowledge problems and initiate timely corrective action merely serves to exacerbate the situation, as does the selective and biased reporting of unsub stantiated and emotional accusations. will th en go to those local com m uni ties where banks failed and work w ith farm families there to see if Fm H A assistance can be offered. Dorothea Wolfe Donald Ogilvie Selected ABA Executive Vice Pres. other area lending in stitu tio n s after the failed bank w as tu rn e d over to FD IC as receiver. FD IC is not a lender, b u t a liquidator in these cases, although th e agency has ex tended some credit to certain custo m ers for spring p lanting to protect the a ssets it took over. U nder the F m H A program , loan specialists have been assigned to Sincerely, Fulda, Minn., Cherokee and W ood Alan J. Whitney bine, la., so far, and plan shortly to Corporate Communications Officer be in Inwood la., all locations where banks have recently failed. Robert FmHA Moves to Assist Pim, s ta te director for Fm H A in Failed Bank Customers Iowa, said the team s are there work The Farm ers Hom e A dm inistra ing w ith farm ers on loan applica tion has m oved team s of loan spe tions th a t will offer a g u aran ty of up cialists into several upper m idw est to 90% to a lender for th e farm er’s tow ns where local banks have failed 1985 operating expenses. The pro in recent weeks. A num ber of farm gram is for those farm custom ers custom ers of th e failed banks were who, although they m ay have cash unable to g et needed financing a t flow problem s rig h t now, are deemed viable borrowers. I t is hoped th is program will give tim e to work out a czHotcLsx and ¿^Tisoclà.és.1 restru ctu rin g of debt for these peo Bank Consultants ple. Specializing in Bank Acquisitions The Fm H A will use th e 1985 crop 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 as collateral for these em ergency D o n a l d E . H o l d e r , Principal loans and m ay seek non-disturbance c o n tra c ts or a ssig n m e n ts from FD IC and lenders to give it th e clear LENDING OFFICERS security needed on th e ’85 crop. Norwest Corporation has openings for ex In addition, since FD IC has cen perienced loan officers in several locations in Iowa. Successful candidates will have 2 tralized in its O m aha office the loans to 7 years experience in Commercial Lend from several other banks th a t have ing. We prefer candidates with degrees in failed in recent m onths in N ebraska Business, Economics, Finance, Marketing, Agriculture, or Accounting and/ or advanced and Iowa, Fm H A will go to the training obtained in various ABA or other Om aha FD IC office soon to work on professional banking schools. those cases for inform ation. Fm H A These positions would provide for salary ranges from $25,000 to $42,000, depending upon past experience, and very attractive benefit programs including: profit sharing/savings investment programs, pension benefits and liberal medical, life, and dis ability plans. Norwest Corporation is a $21 billion diver sified financial services organization with Region IV banking locations in Keokuk, Ot tumwa, Bettendorf, Marion, Cedar Falls, Des Moines and Fort Dodge, Iowa. Please contact in complete confidence: Will C. Smith, Regional Vice President Human Resources 1201 Financial Center Des Moines, Iowa 50309 Telephone #515-245-8441 (We are an equal opportunity employer.) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IOWA NATIONAL BANK CURRENCY D onald G. Ogilvie has been se lected executive vice president of the A m erican B ankers A ssociation. H e succeeds W illis W. A lexander, who retired in Ja n u a ry a fter serving 15 years as A B A ’s executive vice president. M r.Ogilvie, 41, currently is a vice president of Celanese Corporation, where he is responsible for th e firm ’s governm ent relations, com m unica tions and health, safety ann environ m ental affairs. Nebraska News The Iow a-N ebraska C hapter of B ank M arketing A ssociation will hold its next m eeting M arch 14 a t th e Cornhusker in Lincoln. F eatured speaker is Dr. Charles Henkel, professor of m arketing a t the U niversity of Colorado and di rector of Colorado’s B ank M arket ing School in Boulder. Iowa News The Iowa B ankers A ssociation is sponsoring an A griculture Lending Q uality Control W orkshop to be held a t five locations across the s ta te M arch 11-15. Presented by H olm es Pedelty, Clear Lake, and Don Sender, M in neapolis, th is w orkshop focuses on im proving th e quality and profit ability of ag loans th ro u g h the for m alization of professional lending policies and procedures. P artici p a n ts receive th e Q uality Control M anual th a t bankers can tailor to their own bank needs. W orkshop fee is $315 per person, TRUST OFFICER WANTED FOR PERSONAL COLLECTION Other services include purchase or appraisal of coin/currency estates or collections. I also wish to document the survival of Iowa National currency not necessarily available for purchase at this time. DON MARK Box 1, Adel, IA 50003 • 515/270-8170 for $100mm department in $200mm bank. Law degree required. Continued growth, presents real opportunity. Responsibilities include employee benefit plan administration, customer contact, business development. Trust experience and knowledge of investments helpful. Send resume to: R.J. Schmlt-Trust Department Peoples Bank & Trust Company P.O. Box 360 Waterloo, IA 50704 (PA) Supplement to Northwestern Banker Newsletter 3-4-85 ■Bll m hen it com es to investm ents— long-term or short-term — nothing And when it com es to quality, no one beats the outstanding track record of United Missouri’s Investm ent Banking Division. Sound bond portfolio recom m endations are our business. They have been since the 1920’s. You can rely on our ability to adapt in this ■■■■■■■■■I consistently high siarraaras. Call or w rite United Missouri Bank today. W e’ve m astered the a rt of quality; I t W 1^— B'B ■ m M Investment Banking Division UNITED MISSOURI BANK n.a. _ ogether IBS ■ BH ■■I randoP.O un 6 4 141 HR https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis m https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 3-4-85 >ANKERSm¡ »ANKERS® B ^ SM Some special candidates from Robert Half's Banking Division PARTIAL LISTING OF AVAILABLE BANKING CANDIDATES #AG LENDER. D e ta ile d o rie n te d ag len d er w ith 4 years o f high q u a lity loans in the midwest. Ag emphasis w ith a BS degree and unusual c a p acity fo r problem s o lv in g . Looking f o r v is ib le spot to u t i l i z e s k i l l s . BD - 210 $32K. %ASHIER/L0AN OFFICER. Comprehensive knowledge o f a l l accounting and operations areas. purchased packages o f mortgage and consumer loans. An in d iv id u a l you can count on. BD r 211 Has also $30K. ^PRESIDENT. Hard d riv in g doer w ith extensive banking experience as a p r o f i t minded success. Capable of fo rm u latin g p o lic ie s and d ire c tin g bank w ith experience in a broad spectrum o f loan are a s . BD - 212 $42K. %RUST/JD. I n t e l l i g e n t , persuasive communicator w ith 4+ years t r u s t experience a t a la rg e midwest bank. Meets deadlines and is accustomed to d e ta ile d work round the c lo c k . Knowledgable in a l l areas o f t r u s t and enjoys new business development. BD - 213 $35K. • VICE PRESIDENT. Sharp, independent th in k e r w ith f u l l understanding o f executive le v e l banking. Ten plus years o f general lending a t Vice P res id e n t l e v e l , d esires o p p o rtu n ity to be* c r e a tiv e . #BD 1 214 $32K. AG LOAN OFFICER. Proven c o n trib u to r has ris en through ranks in $25m and under bank. Now ready to accept new challenges and implement c o n s is te n tly e f f e c t iv e s k i l l s . Five plus years in ag le n d in g , degreed and d i li g e n t . - 215 $32K. COMMERICAL LOAN OFFICER. E f f i c i e n t , re s u lts conscious professional w ith 8+ years as a la rg e c r e d it l in e commercial len d er and 2 years a t o f f i c e r 's le v e l . Wishes high v i s i b i l i t y opportun i t y where cap acity to get things done w il l be rewarded. ^D 216 $38K. EXECUTIVE VICE PRESIDENT. Hands-on executive w ith 20 years in banking. An ach iever who has worked from the ground up. Extensive work in real e s ta te mortage areas and operations now seeks take charge #2 p o s itio n . BD 217 $35K. LENDER. Ambitious up and comer who has been tra in e d in both bank lending and o p e ra tio n s. This ^ a g e r in d iv id u a l is looking f o r a p o s itio n th a t w il l prepare the in d iv id u a l f o r a lead ersh ip " o le . BD 218 $20K. -CONTINUED https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PARTIAL LISTING OF AVAILABLE BANKING CANDIDATES COMMERCIAL LOAN OFFICER. T e c h n ic a lly minded le n d e r w ith su p erio r s k i l l s in commercial loan and real e s ta te a n a ly s is . D esires r e s p o n s ib ility and c h a lle n g e , can c o n trib u te Im m ediately. In depth fe e l fo r FHA and SBA lo a n s . 4 BD - 200 $30K: MORTGAGE LENDER. S k ille d In a l l phases o f o r ig in a tio n , u n d e rw ritin g , clo sin g and c o lle c t io n . Has hired and f i r e d , plus handled business development In a $100-200 m illio n atmosphere. BD - 201 $30K . • PRESIDENT. Unusual c a p a b ilitie s f o r problem s o lv in g . C u rre n tly head o f a ru ra l bank w ith 7+ years as #2 man In ru ra l bank and over 20 years in c r e d it management Is seeking op p o rtu n ity to f u l l y u t i l i z e e x p e rtis e . ^ BD - 202 $38K " FUNDS MANAGEMENT/MBA. In d u s trio u s professional w ith 6 years o f muni b o n d /T -b lll p o r t f o lio management. Has worked w ith a s s e t /1 l a b i li t y and fe d e ra l funds management. Fast tra c k In d iv i dual who can and w il l be promoted q u ic k ly . • BD - 203 $27K. TRUST INVESTMENT OFFICER. Performance o rie n te d Investm ent o f f i c e r w ith 5+ years in a growing t r u s t departm ent. Excel le n t communicator and has an unusually strong understanding o f money ^ management in the t r u s t a re a . BD - 204 $35K. AG LENDER. Exceptional tro u b le shooter w ith a thorough understanding o f to d ay's ag banking problems and needs. Degreed, 5 years o f banking experience w ith the l a s t 2 1/2 in ag lending a B a small bank. Seeks growth p o s itio n to u t i l i z e community banking s k i l l s . BD - 205 $25K. COMMERCIAL LENDER/MBA. High output goal ach iever w ith 2 years experience in business development, u n d erw ritin g and clo sin g o f commençai lo an s. Looking f o r a p o s itio n to make thin gs 9 happen. * BD - 206 $28K. PRESIDENT. Bold and accomplished p re s id e n t who has cleaned up 2 problem banks and another • commerical loan department seeks challenge o f doing i t again. S table jo b h is to ry and hard h i t tin g bank knowledge. BD - 207 $50K. TRUST OFFICER/JD. present p o s itio n . tu n ity to grow. BD - 208 Aggressive take charge professional w ith 2+ t r u s t experience has outgrown Experienced in $100nH- bank, is open to a l l lo c a tio n s , and wants the oppor $28K. • SENIOR VICE PRESIDENT. Decision maker w ith proven lending background in a ll phases o f mortgage and commerical le n d in g . Plus v a rie d operations management s k i l l s in a s o lid 12+ y e a r banking c a re e r. BD - 209 $31K# ROBERT HALF OF IOWA, INC. ® United Central Bank Bldg. 317 Sixth Avenue Des Moines, iowa 50309 Banking, Financial, Accounting and EDP personnel specialists. CONTACT KURT ROSENCRANTS AT: (515) 244-4414 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 C all on th e “ E xp e rie n c e d P ro fe s s io n a ls ” Ready to meet your correspondent needs. iiiiim iiii FIRST NATIONAL LINCOLN 13th & M Streets, Lincoln, NE 68501 A FirsTier Company which includes a m anual, and $95 M arquette H otel in Peoria. Chair for a second person. E ach bank is m an of th e B ank O perations Com lim ited to tw o people and one m an m ittee is Ron D. SA NTO stefano, ual. The workshop will also be lim M id-City N ational B ank of Chicago. ited to 20 people. For m ore inform a On W ednesday, M arch 13, two tion contact B arb Lowe a t the IBA, m orning speakers will discuss “ F i 1-800-523-1423 or (515) 286-4346. nancial Services.” P eter M. H arvey, The locations are as follows: senior vice president, B radford N a M arch 11—M axw ell’s H arb o r tional Corp., P ittsb u rg , will address House, Storm Lake. “ How B ank C om petitors A re Steal M arch 12—Odins, A tlantic. ing B ank C ustom ers.” Edw in A. M arch 13—R am ada Inn, Ames. Scharlau, II, will discuss “ Pricing M arch 14—Parkview Plaza, O t B ank Products and Services.” tum w a. Following a noon luncheon ad M arch 15—Stouffers Five Sea dress by IB A P resident Jam es E. sons, Cedar Rapids. F orster, chairm an of The DeKalb M ELB O U R N E: M elbourne Savings Bank, three concurrent workshops B ank has announced the election of will be held. “ Financial Services— Jam es C. A nderson as executive F ig h tin g B ack” will be chaired by vice president and CEO, and Ken E dw ard T. Borus, senior vice presi n eth E . Reimers as vice president dent, F irs t N ational of Skokie. “ Ser and cashier. M r. A nderson has vice B ureau vs In-H ouse Process served as vice president and cashier in g ” will be chaired by R obert L. th e p a s t four years. M r. Reimers Cormier, senior vice president-ED P, previously w as w ith Citizens Sav Hom e S ta te B ank, C rystal Lake. Ge ings B ank in Gilm an for eight years nevieve B artley, vice president, E vergreen Plaza Bank, Evergreeen as vice president and cashier. P a rk , w ill p re s e n t “ P e rso n n e l M anagem ent.” R obert M aram , vice Minnesota News president, D rovers B ank of Chicago, The M innesota B ankers A ssocia will be th e banquet speaker. tion will present a Loan D ocum enta Two early bird sessions T hursday tion W orkshop M arch 20 a t the Reg m orning will be offered on “ M ergers istry H otel in Bloom ington. The and A cquisitions” and “ A TM s To Uniform Commercial Code will be day.” A t the second general session, discussed. Bob Long, chairm an of M icrobanker Jo h n Moye, p artn er in th e Den Inc, York, Pa., will talk on “ M icro ver, Colorado, law firm of Head, com puters: A re They G rowing Up or Moye, Giles, and O ’Keefe, will con Growing Old?” H e will be followed duct the program . P a s t chairm an of by M ichael Chy, president of Per th e corporation, banking and busi sonal M otivation In stitu te , Flossness section of th e Colorado B ar A s moor, 111. on “ How to E ducate sociation, he has gained a national C ustom ers.” Jam es M arpe, partner, rep u tatio n as an au th o rity on corpo M anagem ent Inform ation Consult rations and th e Uniform Commer ing Division, A rth u r Andersen, Chi cial Code. cago, will conclude the conference https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • Member, F.D.I.C. South Dakota News M AD ISON: Security S ta te B ank re cently announced th a t K eith K n u t son has joined as vice president and m anager of th e M adison office. Daniel G rasser has been elected vice president and m anager of th e Canova branch. M r. K nutson previous ly w as w ith U nited N ational and F irs t B ank System s in Sioux Falls. M r. G rasser has been associated w ith the bank since June, 1983. Wyoming News G IL L E T T E : Ronald L. O sterm iller has been nam ed president of F irst In te rsta te B ank here. M r. O sterm il ler, previously senior vice president of F irst In te rsta te B ank of Sheri dan, succeeds Ja c k G. H aselbush, who resigned to accept a com parable position w ith a bank in E ste s Park, Colo. Mr. O sterm iller had been an of ficer of the Sheridan bank since ear ly 1979. FINANCIAL PLACEMENTS a division of BANK NEWS Call Larry Vohs 816 / 421-7941 Job Openings VP # 2 AG OFFICER — Iowa, 5-10 exp., $36,000 AG OFFICER/COM’L — strong feedlot, $ Open VP CORRESPONDENT — Oklahoma, Accts/Sales, $40,000’s VP CORRESPONDENT — Illinois, 12 states + MO/KS, $45,000+ VP AG OFFICER— Nebraska, 5-10 exp., $36,000 INTERNAL AUD — Illinois, BS/Acct, $30,000 VP AG/COM’L LOAN — Nebraska, $30,000 VP AG OFFICER — for three banks, Nebraska, $24,000 INS OFFICER — Oversee two bank agency, $19,000 VP AG OFFICER — Iowa, possible #2 position, $50,000 If you are interested in a career move, mail your resume in strict confi dence to FINANCIAL PLACEMENTS, P.O. Box 13786, K.C., Mo. 64199, or call 816-421-7941. POSITION AVAILABLE VICE PRESIDENT—$40 million southeast Iowa bank seek ing individual with strong credit and operations back ground needed. Near major college town. Excellent bene fits and career opportunity. Send resume and salary his tory in confidence to file WCS, c/o Northwestern Banker. Ag Banking Specialists Let us help with your career advancement or staffing needs. Call in confidence, without obligation. Employ ers pay our reasonable fee to hire the best. Financial Careers V.P. & CASHIER for $32 million Iowa bank. College com munity .................................................................Salary Open CEO for $28 million Iowa bank. Affiliated with major hold ing company.Prefer experienced banker with good ag background.....................................................Salary $45,000+ ________________________________ (PA) CEO for $14 million Iowa community bank. Requires 5 to 10 years experience. Good ag background. . . . Salary open NEEDED IMMEDIATELY—2nd officer in $12 million SE Iowa bank. Prefer minimum of 2 yrs. experience in Ag. len ding or operations. Send resume, including salary require ments to file WCT, c/o Northwestern Banker. (PA) COMMERCIAL LENDER for $100 million bank. Requires 5-10 years experience. Job entails loan cleanup— both ag and com mercial............................................ Salary $40,000+ INVESTMENT OFFICER for small regionalmidwestern bank. Needs 10 years’ experience. Investment portfolio $250 million. Must have excellent credentials. Salary com mensurate with experience. Contact file WCV, c/o North western Banker. (PA) TRUST INVESTMENT OFFICER: Opening for an individual with 2 or more years experience in investments. Position involves extensive client contact and business develop ment. We offer excellent benefits and a salary commen surate with experience. Send resume and salary require ments in confidence to: Valley National Bank, Personnel Department, P.O. Box 906, Des Moines, la. 50304. (PA) COMMERCIAL LENDER for $600 million midwest bank. Must be experienced in handling major credits and good at documentation................ ........................Salary $40,000. Linda 515/394-5827 New Hampton, la. 50659 , Jean 515/263-9598 (W/F) 712/779-3567 (M/T/TH) Massena, Iowa 50853 agri careers,inc. We are seeking a product manager for our finan cial product line including automated general led ger, budgeting and financial planning. The indivi dual will be responsible for assuring the market ability of a group of products overtime by devel oping product features that meet market needs. The candidate will possess a strong background in accounting/finance with a MBA/CPA preferred as well as strong communication skills and a knowledge of marketing principals. Send salary requirements and confidential resume to: Colleen Dillard BANKS OF IOWA COMPUTER SERVICES 433 Edgewood Rd. NE Cedar Rapids, IA 52406 (PA) D O N -^ C H O O L E R In AND W ) )) ASSOCIATES "S u c c e s s fu l B a n k in g is Q u a lity P e r s o n n e l" If you would like to be informed of positions as they become available and if you are interested in chang ing your present position, send your resume or phone Don Schooler, 417-882-2265, 2508 East Meadow, Springfield, Missouri 65804. Information on you will be kept confidential until you are inter ested in a specific position. Eighteen years of banking serving as President of rural and metropolitan banks enables me to match you, technically and personally, with the right bank ing environment. POSITIONS CURRENTLY AVAILABLE Missouri, Iowa Oklahoma, Kansas, Arkansas, Illinois, and Nebraska AG LENDER for major eastern Iowa bank. Located in metro area. Candidate will work in rural office..................... .....................................................................Salary to $30,000. NCR 7750-2500 PROOF MACHINE— 12 pockets, auto-feed hopper, cassette handler, 3.7 million items, has been on maintenance. Contact: Mark Sams, First State Bank, Web ster City. Phone: 515/832-2520. (FS) A.B. DICK 310 OFFSET PRINTER—Completely rebuilt. Contact Dave Spahn, First National Bank of Dubuque. Phone 319/589-2248. (FS) ALL AROUND LENDER, $30mm bank, Lake area, 2,000 population........................................... $30,000 PRESIDENT, $40mm bank, superb location, candi date should be steady, mature, and an organized adm inistrator................................................$60,000 COMMERCIAL CREDIT ANALYST, COMPLIANCE, & REVIEW for a small holding company, college town, 10,000 population............................. $40,000 COMMERCIAL LENDER, $60mm bank, 10,000 population ..................................... $35,000-$40,000 VICE PRESIDENT, COMMERCIAL LOANS, excel lent college town ..........................................$40,000 #2 OFFICER, $10mm bank, 2,000 population........ ........................................................................ $30,000 NEW CHARTER, METRO A R E A ................... OPEN OPERATIONS HEAD, $30mm bank, nice college to w n ................................................. $25,000-$30,0<r TRUST OFFICER for $70 million Iowa bank. Prefer lawyer with two or more years experience in handling trusts and e s ta te s ...................................................... . .. Salary $30,000. VICE PRESIDENT—COMMERCIAL LOANS for $40 million Iowa bank. Insurance license is a plus . .Salary to $35,000 CASHIER for eastern Nebraska bank. Requires 3-5 years experience................................................. Salary to $32,000. AG LENDER for northern Iowa bank. Prefer college grad with one or two years experience. Must know documenta tion ............................................................. Salary to $25,000. TRUST ACCOUNTING SOFTWARE FOR MICROCOMPUTERS MBS, Inc. 7387 Pacific St., Omaha, NE 68114 Phone: 402/399-8021 AG LENDERS for PCA, to serve as managers in excellent farming areas. Offices do not have major problem loans. Prefer college grads with 3 or more years experience and farm background. Good documentation record is essential ......................................................................Salary to $30,000. Write or call Malcolm Freeland or Cy Kirk in care of Freeland Financial Service, inc., 1010 Equitable Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays reasonable fee. Many other opportunities now available. WANT TO BUY WANTED— Minnesota, Iowa or Wisconsin $10-$20 million sound bank. File WCQ, c/o Northwestern Banker. (WTB) POSITION AVAILABLE Locally owned Mid-Michigan Community Bank seeks an individual with a minimum of three (3) years agricultural lending experience. Individual must have a working knowledge of preparation of cash flow, projections and financial statements. Individual must be self motivated and be able to perform in a goal oriented environment. Please send resume to: Gerald Mapes, President Bank of Lakevlew 506 Lincoln Avenue Lakevlew, Michigan 48850 (PA) ALL AROUND LENDER, heavy in Ag, $30mm + bank, 5,000 population............................... $30,000 EXECUTIVE VICE PRESIDENT, HEAD OF ALL LENDINQ in a $70mm + bank, town of 7,500........ .......................................................... $40,000-$50,000 COMMERCIAL LENDER for major southern Minnesota bank. Requires 5 or more years experience........................... .....................................................................Salary to $40,000. TRUST OFFICER for $100 million midwest bank. Law de gree not necessary.................................... Salary to $35,000. FOR SALE PRODUCT MANAGER FINANCIAL PRODUCTS NUMBER TWO person for $140 million bank. Must have loan experience in larger bank. Position leads to C E O ___ ....................................................................... Salary $50,000 + COMMERCIAL/CORRESPONDENT BANKING Because of recent growth, our correspondent bank department will be adding an experienced commercial lender to work with our correspon dent banking customers to develop joint new bus iness opportunities and to manage our commer cial overline portfolio. Qualified candidates will have at least five plus years of varied bank commercial lending experi ence coupled with a sold record of business de velopment. Ag. lending experience would be an additional plus. To be considered for this unique opportunity, send resume and salary history in confidence to: Wm. P. McKnlght V.P. Human Resources F&M MARQUETTE NATIONAL BANK Sixth and Marquette Minneapolis, MN 55480 An Equal Opportunity Employer SR. VICE PRESIDENT Commercial/Consumer Loans Newly chartered federal savings bank in Long mont, Colorado is seeking a highly qualified indi vidual to establish and direct the bank’s commercial/consumer loan services division. Candidate must have a minimum of 10 years in combined experience of consumer and commer cial lending. Must be sales oriented with manage ment abilities. Excellent compensation and benefits package plus employee ownership plan. Send confidential resume to: J. Richard Grear, Exec. V.P. National Savings Bancorporatlon of Colorado P.O. Box 820 Longmont, Colorado 80501 An Equal Opportunity Employer POSITIONS AVAILABLE INSTAL. LOAN • $100MM suburban bank. Requires one or two yrs. consumer lending experience. Some supervision $18K COMML. LOAN ■ $250MM urban bank. Addition to staff. Future advancement possible $40K COMML/REAL ESTATE • heavy commercial loan experi ence and some exposure to large R.E. lines. Senior posi tion in $20MM suburban bank $40K AGRILOAN - share lending responsibilities with President for $30MM Ag bank. Some operations background desired $35 K PRESIDENT • $30MM independent suburban bank. Must have previous CEO experience and strong marketing skills $Open TOM HAGAN & ASSOCIATES (PA) 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 13 No. 46 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fif teenth 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 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis