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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

“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.
Mr. Ben Haller, Jr.
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
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
In sum, to insinuate that the FDIC and its
examiners would arbitrarily classify credit
for the purpose of closing banks for job pro-

to make MNB work for you.
Toll free: 1-800-332-5991

Merchants National Bank
Federal Reserve Bank of St. Louis

is i

Norwest Bank Des Moines, N.A.

Serving bankers quietly and efficiently.

Call (515) 245-3131 or toll-free (800) 362-2514
M em ber FD IC

714 U.C.B. Building, 515-283-2545
Des Moines, Iowa 50309

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
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
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
Specializing in Bank Acquisitions
The Fm H A will use th e 1985 crop
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
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.)
Federal Reserve Bank of St. Louis


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
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,

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.

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
R.J. Schmlt-Trust Department
Peoples Bank & Trust Company
P.O. Box 360
Waterloo, IA 50704


Supplement to Northwestern Banker Newsletter 3-4-85


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


consistently high siarraaras.
Call or w rite United Missouri Bank today.
W e’ve m astered the a rt of quality;
I t


B'B ■
m M

Investment Banking Division


n.a. _




un 6 4 141

Federal Reserve Bank of St. Louis

Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 3-4-85





Some special candidates from
Robert Half's Banking Division

#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
%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

^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
%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
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
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
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
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
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
Federal Reserve Bank of St. Louis

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 .
BD - 200
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
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
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
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
BD - 206
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
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

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



United Central Bank Bldg.
317 Sixth Avenue
Des Moines, iowa 50309

Banking, Financial, Accounting and
EDP personnel specialists.

Federal Reserve Bank of St. Louis


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

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,
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
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.

a division of BANK NEWS

Larry Vohs

816 / 421-7941
Job Openings
VP # 2 AG OFFICER — Iowa, 5-10 exp.,
AG OFFICER/COM’L — strong feedlot,
$ Open
Accts/Sales, $40,000’s
states + MO/KS, $45,000+
VP AG OFFICER— Nebraska, 5-10 exp.,
INTERNAL AUD — Illinois, BS/Acct,
VP AG/COM’L LOAN — Nebraska,
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
P.O. Box 13786, K.C., Mo. 64199, or call

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.

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.
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.

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
433 Edgewood Rd. NE
Cedar Rapids, IA 52406

D O N -^ C H O O L E R In
"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.

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.
A.B. DICK 310 OFFSET PRINTER—Completely rebuilt.
Contact Dave Spahn, First National Bank of Dubuque.
Phone 319/589-2248.

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
& REVIEW for a small holding company, college
town, 10,000 population............................. $40,000
COMMERCIAL LENDER, $60mm bank, 10,000
population ..................................... $35,000-$40,000
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.
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.

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.

WANTED— Minnesota, Iowa or Wisconsin $10-$20 million
sound bank. File WCQ, c/o Northwestern Banker.

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


ALL AROUND LENDER, heavy in Ag, $30mm +
bank, 5,000 population............................... $30,000
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.


NUMBER TWO person for $140 million bank. Must have
loan experience in larger bank. Position leads to C E O ___
....................................................................... Salary $50,000 +

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
Sixth and Marquette
Minneapolis, MN 55480
An Equal Opportunity Employer

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

INSTAL. LOAN • $100MM suburban bank. Requires one or
two yrs. consumer lending experience. Some supervision
COMML. LOAN ■ $250MM urban bank. Addition to staff.
Future advancement possible
COMML/REAL ESTATE • heavy commercial loan experi­
ence and some exposure to large R.E. lines. Senior posi­
tion in $20MM suburban bank
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


2024 Swift - Box 12346
North Kansas City, MO 64116

“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.
Federal Reserve Bank of St. Louis