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# Des Moines, Iowa Vol. 11 No. 3 A t A B A Council Meeting— Bob Brenton Nam ed EM BERS of the A B A Coun cil, at their recent annual meeting at The Greenbrier in West Virginia, elected C. Robert Bren ton as PresidentE le c t o f th e American Bank ers Association. He will be in stalled in that of fice at the A B A annual conven tion October 20 in Atlanta. Mr. C.R. BRENTON Brenton is president of Brenton Banks, Inc., a Des Moines-based holding company that owns 18 Iowa banks. He will succeed William H. Kennedy, chairman of National Bank of Commerce in Pine Bluff, Ark., who will move up to the A B A presidency. Mr. Brenton’s father, W. Harold Brenton, served the A B A as president 30 years ago in 1952-53. The Council meeting took place as part of the A B A Leadership Con ference at The Greenbrier. The Con ference arrived at a consensus state ment calling for a balanced federal budget. It also urged the DIDC to get on with the business of deregula tion and Congress to get Sen. Garn’s financial package bill, SB 1720, M May 10,1982 return. We blame the DIDC because they don’t know what’s going on in A B A President-Elect the rest of the country.’’ An A B A spokesman said after moving. The budget message said the Leadership Conference, “ We first emphasis should be placed on need a head-on instrument with the controlled spending. M M M F s w ith ch eck w ritin g Throughout the Leadership Con capabilities — a super NOW. Half ference there was evidence of high- measures don’t help, they don’t at level frustration over the inaction or tract new money.’’ inability of D ID C ’s five members to A B A strongly protested DIDC ac take some constructive steps toward making it possible for financial in tion that effectively imposed the in stitutions to offer competitive pro terest rate differential on new 91-day ducts to non-financial intermedia CDs held by public bodies and IR A ries and their Money Market Mutual and Keogh retirement customers. Funds that have no supervised rate Federal regulatory history disagrees totally with this action, A B A said in a limit. While the banks and s&ls have strong letter April 23 to Treasury been forced by DIDC to stand prac Secretary Donald Regan, who is tically idle, MM MFs have garnered DIDC chairman. A B A will support a nearly $200 billion in deposits that $25,000 discretionary rate account will no longer be used for lending in together with a lower denominational local communities. These funds leav instrum ent w ith tran saction al ing communities for MMMFs have capability, the statement said. A B A also protested the way that graphically impacted bank deposit totals, as noted by year-end and cur DIDC took its differential action. It was done by notational voting the rent figures. One banker stated recently, “ I'm week after its last public meeting telling our local people during com March 22. A B A pointed out that the munity drives that our share we law requires advance notice and op used to give is now being cut and portunity to comment, as well as they will have to leave the communi publication of any action taken by ty and seek out the Merrill Lynch’s such secret meetings—which DIDC and the Sears’ and tell them they did not do. “ A B A strongly believes that a owe some support to all these local drives. We can’t really blame our $5,000 minimum, no-ceiling rate of in local customers who seek a higher terest transaction-type account incor- Don't gam ble when choosing o correspondent bonk. Com e to the professionals. For any correspondent banking need . . overline assistance, d a ta processing services, investm ent counseling . . . just g ive us a call. W e're the professionals w h o put the response in correspondent banking. u ICb UNITED CENTRAL RANK OF DES MOINES, N.A. • MEMBER FDIC • TOLL FREE NUMBER (800) 362-1615 AFFILIATED W ITH UNITED CENTRAL BANCSHARES, INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Eddie A. Wolf, Sr. Vice President 2 did we get to Hfow 1 be first in Iow a? Gariy Frandson IOWA-. nesMpines By putting Iowa first. Mem ber FDic porates the necessary elements to per mit depository institutions to remain competitive on a short-term basis,” it was stated. After that A B A communique and the Leadership Conference, DIDC also had a request from FHLBB Chairman Richard Pratt for another meeting soon, so one has been scheduled as a public meeting May 24 to discuss alternatives for a short term instrument. The next DIDC meeting previously was not scheduled until June 29. Iowa News The Iowa College Aid Commis sion will sponsor an Iowa Guaran teed Student Loan Seminar on May 10 and 11 at the Des Moines Mar riott Hotel. James Struve, vice president of The Merchants Nation al Bank of Cedar Rapids will give the keynote speech at the opening dinner on May 10. Ed Cunningham, vice president of Plaza State Bank of Des Moines, will address the group at the May 11 luncheon. The two-day agenda includes a basics course on student loans, a full brief ing on the new Iowa PLUS Program of loans for parents, and several special interest sessions. Similar meetings will be offered May 17-18 at Ramada Inn, Waterloo, and May 19-20 at Highlander Inn, Iowa City. For information and registration materials, contact: Iowa College Aid "Opportunity T I a I \ Ji I (L ■■ 9 rr « i l BANCO8 Call (515) 245-3131 or toll-free (800) 362-2514 An Affiliate of Northwest Bancorporation Robert Scott, O O O Correspondent Banker Commission, Ninth and Grand, Des Moines, Iowa 50309. Phone (515) 281-4890. COLFAX: Dean A. Schantz has recently joined the First National Bank as executive vice president. Mr. Schantz was most recently serv ing as vice president and chief ex ecutive officer of the Tri State Bank in East Dubuque, Illinois. D ES M O IN ES: The Iowa-Des Moines National Bank will be one of the first banks in the country to in troduce the national brand debit card, MasterCard II, according to Thomas N. Hammelman, executive vice president and manager of the bank’s consumer banking division. MasterCard II will allow consumers to access their checking accounts at over 3.5 million merchant locations and financial institutions world wide. It provides overdraft protec tion through a reserve line of credit, access to automated teller machines throughout Iowa and international cash advance capabilities. In addi tion, financial recordkeeping is simplified because MasterCard II users receive a receipt at the time a purchase is made and the transac tions are descriptively reported on the checking account statements. Consumers using MasterCard II will follow the same steps used to make purchases with the MasterCard credit card. All MasterCard mer chants will accept MasterCard II and process transactions in the same way credit card transactions are processed. DES MOINES: Donald E. Allison has been named vice president of na tional and regional banking at IowaDes Moines National Bank. Mr. Alli son joined the bank in 1978 and was named second vice president in 1981. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DES MOINES: In a joint announce ment recently, Paul D. Dunlap, president of Hawkeye Bancorporation and Lyle E. Meyer, executive vice president of the State Bank of Allison announced the proposed ac quisition of the bank by Hawkeye Bancorporation. Terms of the proposed acquisition, which will be in exchange for Hawkeye’s common stock, were not disclosed. The ac quisition is subject to Federal Reserve approval. ® ^ LAMONI: James M. Schipper has been elected president and chief ex ecutive officer of State Bank of Lamoni. He succeeds Vernon E. Whisler, who is retiring. Mr. Schip per previously served with Universi ty Bank and Trust in Ames and Clarke County State Bank in Osceola. PARKERSBURG: Jeffrey T. Larison recently joined the staff of Parkersburg State Bank as assis tant vice president. Mr. Larison had been serving most recently with the Iowa Department of Banking. SHELL ROCK: Controlling stock of Security State Bank, belonging to the families of the late L.L. Gibson and Jim Gibson of Shell Rock, has been sold to a group of 30 local in vestors. According to an announce ment from Don R. Wubbena, president and chairman of Osceola State Bank, the sale involved 90.6 percent of the bank’s stock. Elected as new officers and directors were: Mr. Wubbena, chairman; Terry W . Schrage of Shell Rock, president; Sally A. Lindaman of Shell Rock, secretary of the board. Dr. Dale M. Bankers _ S e r v ic e LOAN ACTIVITY BULLETIN names of all debtors in the county recorded during the period What: name of secured party When the date the loan was filed with the Secretary of State Where: location where loan made Who: F a s t S E R V IC E {¿CORDS .In c . # • • A Supplement to Northwestern Banker Newsletter 5 -1 0-82 Carleton D . Beh Company Investment Bankers / Financial Consultants 1300 Des Moines Building / Des Moines, Iowa 50309 515/288-2152 NEW ISSUE MOODY’S: Aa We own and offer subject to prior sale and subject to our attorney’s approving opinion: $3,000,000 BETTENDORF, IOWA General Obligation Bonds Dated: £ June 1,1982 Denomination: $5,000 Both principal and semiannual interest (June 1 and December 1; first coupon due December 1,1982) payable at the office of the City Treasurer, Bettendorf, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. • MATURITIES $100,000 $125,000 $125,000 $150,000 12% June 1,1984 June 1,1985 June 1,1986 June 1, 1987 7.75 8.25 8.60 8.90 $250,000 $300,000 9.70% June 1, 1989 June 1, 1990 $350,000 $400,000 $500,000 $500,000 10% June 1, June 1, June 1, June 1, 9.40 9.70 1991 10.00 1992 10.25 11 % % 1993 NRO $200,000 June 1,1988 9.10 1994 NRO LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS, DES MOINES, IOWA • • • Bettendorf, an integral part of the “ Quad-City” area, is located in the easternmost part of the State of Iowa, on the Mississippi River. The three-county Standard Metropolitan Area, represented by the name “ Quad-City” includes Scott, Rock Island and Henry Counties. The City lies midway between Minneapolis and St. Louis, and midway between Chicago and Des Moines. Bettendorf is served by three interstate highways, one major airline, two commuter airlines, three U.S. highways, two state highways and the Mississippi River. Bettendorf enjoys having the reputation of being one of the fastest growing cities in Iowa for the past two decades having a current population of 29,591. There are over 400 manufacturing firm s located in the Quad-City area. Some of the major manufacturers include: J.l. Case Company (agriculture implements), Alcoa (aluminum plate, sheet and foil), Caterpillar (equipment manufacturer), Sivyer Steel Casting Co. (steel castings), and Star Forms (printing business forms). Many old and large manufacturing firm s are located here, such as Deere & Company whose cor porate office is located in Moline, Illinois, and employs over 16,500 people and International Harvester Company which employs over 7,500 people. The Aluminum Company of America has the largest aluminum-rolling mill in the world, 116 acres under roof, and 2,950 employees, located in Riverdale, Iowa, whose boundaries are contiguous to Bettendorf. Bettendorf has two commercial banks located w ithin the City with assets over $100,000 and branches of two Davenport, Iowa savings and loan institutions with assets over $500,000. These bonds are being issued under the provisions of Chapter 384, Code of Iowa, 1981, as amended, and the proceeds will be used for the construction of streets and sewer construction. FINANCIAL STATEMENT ^ • Actual Valuation, 1981 Taxable Valuation, 1981 Net Direct Debt, including this issue Net Direct Overlapping & Underlying Debt Population, 1981 estimate: 29,591 Direct debt per capita: $505.22 Total debt per capita: $718.70 $736,654,738.00 534,623,074.00 14,950,000.00 21,266,827.00 The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not still be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Division of I m Hutton & Company Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 5-10-82 # A N O T H E R T E C H N O L O G IC A L A D V A N C E FR O M SH A R P . THE ELECTRONIC RANKER. • IT COMPUTERIZES LOAN PAPERWORK WITHOUT USING A COMPUTER! • You Don’t D o Business Today Like You Did In The ’70s Now is the time to investigate a new system that will help your bank make money by handling details. A Sharp 6100 with new programs will handle the details for: Installment Loans, Balloon notes, IRA Accounts, Mortgage Payments (conventional, renegotiable, graduated and discounted) and Skip Payments. ^ • As Iowa’s largest Sharp dealer, we have over 40 financial software programs available. Please call us or return this mailer today. , ■■■■■ Phone 515-244-4155 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Electronic Office Systems 1124 Locust Street, Box 65 ■■■■■ Des Moines, Iowa 50301 NO POSTAGE NECESSARY IF MAILED IN THE UNITED STATES BUSINESS REPLY MAIL FIRST CLASS PERMIT NO. 6841 DES MOINES, IOWA POSTAGE WILL BE PAID BY: ELECTRONIC OFFICE SYSTEMS P.O. Box 65 Des Moines, Iowa 50301 □ Please send me additional information □ Please call and make arrangements for a demonstration NAME________________________________________________ PHONE#_____________ BANK ___________________________________________________________ __ ____ _ ADDRESS ____________________________________________________________ __ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 ■ 199 CALL ON THE “PERFORM ANCE TEAM where comm on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. ■ Ä 9 ^ • Everson and Clyde R. Williams of Shell Rock; David J. Epley of rural Waverly; Donald L. Harris of Clarksville, and Frank G. Rogers of Greene. Mr. Wubbena, a Shell Rock native, will serve as a consultant to the bank on a regular basis in addi tion to serving as chairman. Mr. Schräge, who has been with the bank the past 10 years, has been ac ting president since May, 1981. SIBLEY: First National Bank in stalled new and expanded telephone equipment during April and now has a new number. It is (712) 754-4646. Users of the new Iowa Bank Direc tory may wish to enter this correc tion in their books. ^ W H EATLAN D: Jeffrey V. Jacobi has been promoted to assistant vice president of First Trust & Savings Bank after serving six months with the bank. * Nebraska News # # ^ ^ AINSW ORTH: The controlling in terest of the Commercial National Bank of Ainsworth has been purchased by Glenn Forgey, Lyle A. Forgey and Roger L. Weiss, effec tive April 20. The owners as well as Elbert Mundhenke, Fred W. Rose, Sidney Salzman, Dale Sorensen and Donald E. Richardson will continue to serve on the board, and there will be no changes in the bank staff. OM AH A: John Woods, chairman, Omaha National Bank, and Dale Dooley, president of ITS, Inc., Des Moines, signed a contract May 7 in Omaha that will enable ATM card holding customers of Omaha National and its correspondent banks to access their accounts through any ATM in Iowa, and for Iowa card Illinois News holding customers to access their Iowa accounts through A T M s operated b y Omaha N ational system. Legislation that would authorize the making of all types of loans at limited community service facilities of banks, HB 2413, was recommend Minnesota News ed “ do pass” on April 29 by the Il MINNEAPOLIS: DeWalt H. (Pete) linois House Financial Institutions Ankeny, Jr., 49, will become vice Committee. The vote was 9 yes, 3 chairman and head of the metropoli no, and 2 present. The bill is sup tan banking division of First Bank ported by the Association for System, Inc., on July 1. He will be Modern Banking in Illinois and is responsible for all of FBS’ Twin City opposed by the Illinois Bankers banking subsidiaries, which include Association and the Independent First Bank Minneapolis and First Bank Saint Paul. He will become a member of the office of the chief ex ecutive and will report to George H. Dixon, president and chief executive officer. Dennis E. Evans, 43, presi dent of First Bank Minneapolis, will become chief executive officer of First Bank Minneapolis on July 1. M ost of the responsibilities Mr. Ankeny will assume are presently carried out by Clarence G. Frame, vice chairman of FBS. Mr. Dixon said this action is part of a planned succession in view of the pending retirements of Donald R. Grangaard and Mr. Frame in August, 1983. M INNEAPOLIS: A t First Bank Minneapolis, Ronald A. Larson, as sistant vice president, has been pro moted to vice president in the equip ment finance division. OWATONNA: Kenneth E. Wilcox, president of Northwestern National Bank, recently announced the nam ing of Sylvia E. Dalle as assistant manager of the bank’s South Oak Office. She will be replacing Allegra Hanson, who has transferred to Des Moines to accept a position with Banco Incorporated. Mrs. Dalle has been with the bank since 1975. ASK JERRY TRUDO 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 MESSINA, LASSITER AND SCOTT Getting it done for you. John Messina ^ 234-2486 Jan Lassiter David Scott 234-2481 234-2480 Commerce Bank rf Kansasoty“ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC Telephone (816) 234-2000 * Community Banks of Illinois. AM BI points to a recent Illinois Supreme Court ruling that said such facilities are not branch banking. The IBA, which points to previous national court rulings that define banking, says the addition of loan authority at these offices would change them from limited and thereby make them branches. The bill was before the full House last week. P rogress o f HB 1071, the reciprocal branch banking bill, was still uncertain. It was openly sup ported with testimony only by Citicorp of New York and endorsed without testimony by Continental Bank of Chicago, but opposed by the IBA, ICBI and First National Bank of Chicago. GLENDALE HEIGHTS: Lou Eliou has recently been named vice presi dent of marketing and business development for the First Security Bank of Glendale Hieghts. Mr. Eliou previously was with Pick In teriors, Inc., Bolingbrook, where he served as vice president. His new responsibilities will include direc ting all marketing programs and helping foster the growth of com mercial business through customer assistance programs at the bank. Colorado News The Colorado Bankers Associa tion has announced that Elliot Richardson, former Secretary of D efense and form er A ttorn ey General of the United States, will address the annual convention in ad dition to the complement of speak ers announced earlier. The complete program for the CBA convention, to be held June 2-5 at The Broadmoor, Colorado Springs, is in the May is sue of the N o r t h w e st e r n B a n k e r . AUTDmATED SYSTESTIS □F iDLUAjnC. “When it co m e s to your insurance needs we put SERVICE first / 9 Serving Banks throughout the Midwest. 301 N. A nkeny B lvd., Suite 2 2 0 A nkeny, Iowa 5 1 5 -9 6 4 -1 3 5 8 BANKERS AVAILABLE STU D EN T LO A N OFFICERS! Plan to attend one of these seminars on the Iowa Guaranteed Student Loan and Iowa PLUS Programs: If you are seeking a qualified officer for your bank, we have the top applicants in the midwest. Listed below are a few of our current applicants: CEOs with heavy ag lending exp............................................ to $50,000 Commercial Lenders ............................................. to $35,000 •May •May •May •May 10-11 12-13 17-18 19-20 Marriott Hotel, Des Moines Hilton Inn, Sioux City Ramada Inn, Waterloo Highlander Inn, Iowa City Ag Lenders............................................................................ to$25,000 Generalists (Operations/Lending)......................................... to $36,000 Operations/Cashiers ............................................. to $28,000 Installment Lenders ............................................... to $25,000 For Information and Registration, contact: ïïust O fficers........................................................................ to $30,000 CPA/Bank Auditor................................................................. to $28,000 Iowa College Aid Commission 201 Jewett Bldg. Des Moines, Iowa 50309 (515) 281-4890 Write or Call Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. 515/282-6462. Describe your needs, and we will assist you. Employer pays reasonable fee. POSITION AVAILABLE SERVING PROFESSIONALLY AG LENDERS WANTED Banking, Financial & Business Personnel, Iowa and Nationwide If you have two or more years of ag lending experience and want to move up, we have a select number of positions open in the midwest. A degree from Iowa State University or other agoriented university will be a definite plus. Write or call Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. Phone 515/ 282-6462. Employer pays fee._______________________(PA) Capital Personnel Service 714U.C.B. B uilding, 515-283-2545 Des Moines, Iowa 50309 SECOND OFFICER—$17 m illion central Illinois bank. Prefer lending background. Need aggressive person w ith CEO potential. Contact Bart Solon, State Bank of Girard, IL. Phone (217) 627-2112. (PA) Agressive marketing-oriented individual needed to manage new accounts and personal loan department of $70 million bank in southeast Iowa county seat. Write file QBB, c/o Northwestern Banker. (PA) Commercial Trust & Savings Bank, a 100 m illion dollar bank in southeastern South Dakota is seeking an ex perienced CPA to fill the position of Auditor. Submit resume and salary requirements to Ron Jenkins, Presi dent, Commercial Bank, Box 907, M itchell, SD 57301. (PA) Experienced Installment Loan Officer—$12 m illion rural bank in north central Iowa. Excellent school .district and close to urban area. Must have credit life license and col lection experience. Send salary requirement w ith resume. W rite file QBC, c/o Northwestern Banker. (PA) FINANCIAL COMPUTER SALESMAN—three years bank experience. Excellent benefits w ith starting salary and commission. $25,000 first year. Work Iowa and/or Nebraska. Call Mark Vanderloo, 402/330-5040. (PA) REAL ESTATE LOAN OFFICER— Position open in $80 m illion southeastern Montana Bank for knowledgeable Real Estate lender. Banking experience preferred, but not mandatory. Excellent fringe benefits and advancement op portunity. Send resume, experience, and salary re quirements to: Mr. Bob Lucas, President, First Security Bank & Trust, P.O. Box 250, Miles City, MT. 59301. (PA) ASSISTANT CONTROLLER—Accounting degree. Two years experience. CPA plus not a must. Send resume to National Bank of Waterloo, Attention: Personnel, 100 East Park, Waterloo, IA 50704. Phone 319/291-5438._______ (PA) POSITION WANTED 17 year community banker, age 42, extensive experience in all areas, graduate of banking schools desires 2nd man or cashier position. Write File PBM, c/o Northwestern Banker. (PW) Do you have a dress code problem in your bank? Call us today to find out how only $1.00 per day per employee will correct it. JW&dywek)*K CAREERAPPAREL Main St., Carroll, la., 51401 712-792-2748 | When it comes to agriculture, banking and p erson nel. . . go to the specialists — go to AGRIcareers, Inc. Progressive bankers pay us to find the people they need. Corr. O ff.............. Leas. Reps.......... Ag Lend. O ff........ Ag Lend. Offs. (2) Loan O ff./Ins.. . . Cred. Anal............ ___ IA . $17,000 MN . $20-25,000 .Wl . $16-20,000 . .IA . $17-20,000 ___IA . $18,000 IL •. $20,000 Ask the ag banking specialists what’s available without cost or obligation. NEW HAMPTON. IA 50659 MASSENA. IA 50853 I (515) 394-3145 ',.1712)779-3744 SOD CAREERS, INC. ■J THE ORIGINAL AGRICULTURAL RECRUITER POSITIONS AVAILABLE COMMERCIAL LOAN - suburban Iowa bank seeks commercial lender with 2-3 yrs. experience and good business development skills. ........................ $25,000 MARKETING - $65 MM suburban bank desires mar keting minded banker to supervise personal banking dept................................................................... $25,000 INSTAL. LOAN • rural bank with $3MM dept, needs experienced consumer lender to head dept. . $18,000 SENIOR COMMERCIAL LENDER - opportunity to manage all lending functions for $300MM metro area bank.....................................................................$Open CORRESPONDENT OFFICER - Agri lending experi ence a must. Prefer banker but would consider individ ual from farm credit system............................. $28,000 SECOND OFFICER - rural $10MM bank with absentee owner. Must have solid Ag loan background and some administrative experience.................................$30,000 COLLEGE GRADS - if you desire a banking career and will be a May, '82 graduate, there are some management training positions available in small to medium size community banks............... $12-$14,000 All inquiries confidential. A resume' and salary history are requested. TOM H AG AN & ASSOCIATES o f Kansas City Box 12346 - 2024 Swift North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 11 No. 3 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address all mall subscriptions, changes of address (Form 3579), manuscripts, mail Items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis