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Vol. 12 No. 4

Des Moines, Iowa

May 16,1983

holding measure, instead of the face­
saving compromise for the Republi­
signatures on a discharge petition cans. Knowing that President Rea­
that would force the bill from Chair­ gan has said he would veto any re­
man Rostenkowski’s committee to peal of the withholding, it looks like
the floor for a vote. The first time House Democrats will tack their
that could be done under established repeal bill onto the federal debt ceil­
ing bill, which m u st be acted on by
House procedures is May 23.
This delay offers the Chairman May 26 before adjournment.
If the Senate then rejects the
time to act on the bill and avoid the
embarrassment of discharge. The House repeal bill, the matter would
Senate’s four-year delay bill would, have to go to a conference commit­
tee. If the Senate chose to accept
such a measure, the bill would go
straight to the President, with the
critical federal debt ceiling bill, for
his signature—or veto. The confer­
ence committee could be avoided
and still work out a compromise
through some very tricky, difficult
parliamentary moves.
To make any impact consistent
with his previous hard stand, Sen.
Dole would be placed in the position
of having to pursue the compromise
the Senate approved; however, his
choices are questionable at this
because the ball is in the
as noted, save face for Sen. Dole,
who vigorously opposed the bankers House court, with the majority as
on their repeal and delay efforts, and “ unfriendly” players.
Ah, politics, what would we do
would do the same for the President.
without that game? Tune in next
Enter politics!
Chairman Rostenkowski, who has week for the next chapter!
been around the block a few times
Sales and Service Seminar
himself, has until May 23 to take ac­
tion. A t press time late last week it Planned for June 8-10
appeared that the Ways and Means
Frank Kurtenbach, sales manager
Committee was well on its way to­ of internationally known Daktronward repealing outright the with­ ics, Inc., has announced that the 2nd

Withholding Bill Takes New Twist
REN’T politics fun?
To prove that point, just follow
the yellow brick road to the nation’s
capitol in Washington, D.C., and
watch the deals as they’re cut! For
bankers, the current preoccupation
is with the fate of the effort to delay
or repeal the previously passed bill
that would require withholding at
source of 10% tax on interest and
dividends. After ramming it down
the throats of the nation’s taxpay­
ers, and the banking lobby that vig­
orously opposed it, the Senate later
relented and voted to delay the effec­
tive date from July 1,1983, to 1987.
The bill went to the House where
Ways and Means Committee Chair­
man Dan Rostenkowski (D., 111.) bot­
tled it up in his committee, which
gave it the security of being shielded
by House tradition from the clutch­
es of House supporters of the Senate
delay compromise that was struck
to save face for M ajority Leader
Sen. Robert Dole (R., Kan.) and
President Reagan, who had said he
would veto a repeal bill.
However, House supporters of the
compromise who felt it would be
wise to respond to the thousands of
constituents who wrote to them and
said, “ Get rid of that bill,” achieved
an almost unheard of success. For
only the second time in House his­
tory, they went through the House
and obtained the necessary 218

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

Merchants National Bank i l l
M e m b e r F .D .I.C .
Federal Reserve Bank of St. Louis

A B A N K S O F IO W A ’ B A N K

County Bank, has announced the
promotion of John Abbott to vice
president, commercial loans and
marketing. Mr. Abbott has been
with the bank over four years.

Professional ...
Call Mark Christen for
any correspondent service.
Call toll free (800) 622-7262

Valley National Bank ¡3
D E S M O IN E S , IO W A 5 0 3 0 4


Member FDIC

Annual National Sales and Service
Seminar will be held June 8-10 in
Brookings, S.D.
The seminars and workshops are
designed to help present and future
customers gain maximum benefits
from their scoreboard and informa­
tion display equipment.
Seven of the top management peo­
ple of the comprehensive Daktronics
staff will serve as the faculty and
seminar leaders for the three-day
program. Guest speakers will in­
clude: Dr. Aelred Kurtenbach, co­
founder and president of Daktron­
ics; Orv Bies, tournament director of
the Minnesota High School Associa­
tion and chairman of the National
Federation Track and Field Rules
Committee, and Dr. Charles L. Roggiers, associate professor of manage­
ment at the University of South
Dakota and a consultant to business
and industry.
For Registration information call
(605) 692-6145 or 800/843-9879 (EX,
AK, HI, SD) or write Daktronics,
Inc., P.O. Box 128, Brookings, S.D.

CRETE: William R. Fulton, presi­
dent, City Bank & Trust Co., has an­
nounced the appointment of Tom
Koziesek to vice president in the
areas of operations and loans. Mr.
Koziesek joins the bank from Mid­
west Federal Savings and Loan As­
sociation, where he was manager of
the Crete office.

portfolio, joined the bank in Feb­
ruary, 1983. Previously he was
president and chief executive officer GRAND ISLAND: LeMoyne Monof the First National Bank of Colfax, son has been promoted to vice presi­
dent of First National Bank of
where he had been since 1980.
Grand Island. Mr. Monson, who has
WATERLOO: Pete Petersen has been with the bank for 20 years, cur­
recently joined the staff of Peoples rently serves as electronic data pro­
Bank and Trust Holding Company cessing coordinator and manager of
as assistant vice president of human the leasing department for Bankresources. Mr. Petersen previously shares of Nebraska, Inc.
served as human resources officer of
First Bank of South Dakota, Rapid HASTINGS: Michael Jacobson, for­
City, S.D., where he has been since mer head of agricultural lending for
City National Bank and Trust, has
been elected executive vice presi­
dent and senior loan officer by the
Nebraska News
Don G. Johnson was advanced to bank’s board of directors. The pro­
the presidency of the Nebraska motion completes the management
Bankers Association for 1983-84 at reorganization that has occurred at
the 86th annual convention in City National over the last 18 months.
Omaha on May 5. Mr. Johnson is
president of Farmers National Bank LIN D SAY: Mrs. Lorene Oberin Pilger. He succeeds Harold P. hauser, who joined the Bank of Lind­
Stuckey, president, Lexington State say in 1969, has been promoted to
Bank & Trust Company. Newly-elec­ vice president. Succeeding her as
ted president-elect is A.C. (Skip) cashier of the bank is Mrs. Geraldine
Hove, Jr., chairman, Minden Ex­ Ditter, who has been assistant cash­
change Bank. Mr. Stuckey was elec­ ier. She joined the bank in 1972. The
ted to a two-year term from Nebras­ new assistant cashier is Mrs. La­
vorine Nygren, an employee of the
ka on the ABA Council. Ray Tiedje,
Iowa News
Bank of Lindsay since 1976.
president, Bank of Norfolk, was ap­
DES MOINES: James Eiler has pointed to the new post of ABA
been named senior vice president - state membership chairman. The STERLING: Adrian Falgione has
senior lending officer of United Cen­ two weeks of indoctrination for new been advanced to vice president of
tral Bank, according to Robert G. NBA committee chairmen will be the Bank of Sterling, in charge of its
Millen, president and chief executive the last two weeks of June at Indian
officer. Mr. Eiler, who will have the Hills Country Club in Beemer.
Estate Appraisals
responsibility for direction of the
bank's commercial services group BLAIR: Robert J. Duden, executive
Purchase o f
and management of the overall loan vice president of the Washington


An important new profit center
for your bank:

Sale o f Rare Coins

Leroy Bell or
Milt Hennick

a com puterized
local billing/credit service

National Bank of Waterloo
315 East 5th St. • W aterloo, IA 50704
Federal Reserve Bank of St. Louis

Member Federal Reserve System FDIC

Reliable and respected service
for over 20 years
Used by bankers
throughout the midwest

Ben E . Marlenee
913 Locust
Des Moines, Iowa 50309

Supplement to Northwestern Banker Newsletter 5-16-83

W hen you're fighting for profit^
United Missouri's your muscle.

ut all the strength of United
[■ __ I Missouri’s Correspondent
Banking Departm ent to work for
your bank.
You’ll never again w aste your
precious tim e tracking down
the latest changes in federal
regulations. W e keep up with the
regulations and research for you.
p x j ’ll never again call bank after
bank to find the services an c ^
system s you need to keep your

bank running sm oothly, W e offer
them all.
United Missouri’s Correspondent
Bankers have the answers to your
questions. If your bank or your
customers have a need, w e’ll do
our best to fill it
All in all, United Missouri just
might be your best ally in the battle
for profits. Discover how. Catt your
United Missouri Correspondent
S an kerto d ayi;:

llSih.U N IT E D M IS S O U R I B A N K

of Kansas C ity; n.a.
; ¡United w e grow« Together.
' 10th and Grand ■ P.O. Box 226
Kansas City, Missouri 64141 (816) 556-7900
Federal Reserve Bank of St. Louis
Federal Reserve Bank of St. Louis

One Carriers Building
Des Moines, Iowa 50309
Telephone: (515) 243-1203




We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion:

General Obligation Bonds

June 1,1983



Both principal and semiannual interest (June 1 and December 1; first coupon due December 1,1983) payable at
the office of the City Treasurer, Fairfield, Iowa.

8 1/2%
June 1,1984
June 1, 1985
June 1,1986
June 1,1987
June 1,1988
June 1, 1989


$ 95,000




June 1, 1992



June 1,1993



June 1,1990
June 1, 1991
7 1/2%


c T*]?
°* Fairfield, county seat of Jefferson County, is located in southeastern Iowa approximately 115 miles southeast of Des Moines.
Fairfield serves as a commercial, financial, educational, employment and cultural center for the prosperous surrounding agricultural area A
very active Industrial Development Corporation, elected City officials and the Chamber of Commerce have for several decades encouraged
industrial development. The result was a highly diversified economic base. A few of the larger employers include: Crane and Monorail
Systems, Division of Acco Babcock, Incorporated (automatic overhead monorail handling equipment); the Dexter Company (domestic and
commercial laundry equipment and one of the largest gray iron foundries in the Midwest); Fairfield Aluminum Castings Co. (sand and perma­
nent mold aluminum castings); and Rockwell International Automotive Products Division (universal joints and drive line assemblies).
Transportation is furnished by U.S. Highway 34, State Highway No. 1 and several all-weather farm-to-market roads. Commercial airline ser­
vice is available in nearby Ottumwa and Burlington. The community is served by two commercial banks with deposits exceeding $87 080 000
and a savings and loan association with deposits of $26,278,000.
These bonds are being issued to pay a portion of the cost of constructing various improvements within the City and to refund outstanding
warrants and accrued interest thereon issued as temporary payment therefor.

Actual Value Taxable Property, 1982
Assessed Value Taxable Property, 1982
Direct Debt, including this issue
Net Direct and overlapping debt


Population, 1980 Census: 9,428
Net Direct Debt:
Combined Net Debt:

$102.46 per capita
$127.79 per capita

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 m aturity may or may not s till be available or may now be available at a price or yield different from that indicated above.
Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 5-16-83
Federal Reserve Bank of St. Louis


where comm on transactions are handled uncomm only well.
13th & M Street • Lincoln, Nebraska 68501 » Member, F.D.I.C.



management. His advancement fol­
lows the promotion of Jay Lovitt to
president of the Johnson County
Bank at Tecumseh. Mr. Falgione
has been assistant cashier at the
Johnson County Bank for the past
two years, helping with the opera­
tion of the bank and in the lending

Minnesota News







MAPLE GROVE: James Heig,
president of Norwest Bank Maple
Grove, has announced thè election of
Thomas A. Dudich as vice president
in charge of mortgage banking. He
replaces Roger Helm, who has been
elected assistant vice president of
Norwest Mortgage, Inc. Mr. Dudich
previously was with Union Bank
and Trust, Minneapolis, and FBS
Homes and First National Bank of
MINNEAPOLIS: Richard B. Hume
has been promoted to vice president
and senior trust officer at F&M Mar­
quette National Bank, according to
Carl R. Pohlad, president. Mr.
Hume previously was vice president
of Marquette Capital Management
Corporation, a wholly owned sub­
sidiary of F&M Marquette. He will
retain officership in that corporation
but will also assume management
responsibility for its profitability as
well as for the trust department of
the bank.

assistant controller. Mr. Senn joined
in 1980 also as assistant controller.
Mr. Torfin joined in 1966, transferred
to Fargo, N.D., and later rejoined as
customer service manager.

Illinois News
CHICAGO: Albert F. Naveja has
joined the Sears Bank and Trust
Company as a senior vice president
in charge of the corporate and inter­
national banking divisions within
the banking group. He formerly was
vice president of the international
banking group of the Harris Trust
and Savings Bank.
NAPERVILLE: Harris Bankcorp,
Inc. and the bank of Naperville re­
cently announced the signing of a
letter of intent under which Harris
would acquire 100 percent of the
capital stock of Bank of Naperville.
The agreement calls for a cash pur­
chase transaction of $12,731,000, or
$53 per share for each of the 240,208
Bank of Naperville shares. Located
at 503 North Washington Street in
west suburban Naperville, the bank
also has a service facility at Aurora
and Washington streets in Naper­

ST. PAUL: American National
Bank recently announced the pro­
motions of Robert B. Buck to senior
vice president, finance and opera­
tions; Gary M. Senn to vice president and controller, and Duane G.
Torfin to data processing officer.
Mr. Buck joined American in 1975 as

South Dakota News
VERMILLION: Richard Lambert
has been promoted to vice president
of the Vermillion Branch of First
Bank of South Dakota. Mr. Lambert
transferred to Vermillion in 1979 as
assistant vice president and assis­
tant manager.

Montana News
BILLINGS: Don Hanson, vice pres­
ident and cashier of First Citizens
Bank, has received his certification
as a CPA. Mr. Hanson began his

banking career as a staff auditor at

Northwestern National Bank of
Minneapolis in 1969.
GREAT FALLS: A t First National
Bank, Jere B. Davis has been ap­
pointed chief credit officer and
James L. Purdy has been named
manager of the commercial loan de­
partment. Promoted to assistant
vice president status were: Deborah
D. Ducas, marketing, and William J.
Pledge, property and security.

Wyoming News
THERMOPOLIS: Louis Walrath,
president of First National Bank,
has been elected chairman of the
board and chief executive officer.
Succeeding him as president is Gary
Jinks, executive vice president of
the bank. Mr. Jinks joined First Na­
tional Bank’s staff earlier this year.

Colorado News
ARAPAHOE: James H. Hesman
has been promoted to vice president
of Colorado National Bank. Mr. Hes­
man has over 16 years of banking
experience beginning with The Cat­
tle National Bank in Seward, Neb.,
in 1967.
DENVER: G. Michael Moore has
been appointed vice president and
manager of the Denver Energy Of­
fice of Norwest Bank Minneapolis,
N.A., (formerly Northwestern Na­
tional Bank of Minneapolis). Mr.
Moore will have responsibility for
the division’s oil and gas lending
and investment activities. Prior to
joining Norwest in April of this
year, Mr. Moore was first vice presi­
dent, corporate finance, of the
Denver office of Rotan Mosle Inc.

Loan participation through us can help
improve your bottom line
For that reason, banks in Iowa depend on
Correspondent Banker Dick Flesvig

Federal Reserve Bank of St. Louis

First Bank Saint Paul
Member First Banki System
Correspondent Banking Division
332 Minnesota Street
Saint Paul, Minnesota 55101 (612)291-5577

$85 m illion southeastern Montana bank has an
immediate opening for an AG LOAN OFFICER
w ith a bility to take charge of ag loan portfolio. Ex­
perience very Important. Must be able to deal w ith
ag people and be fam iliar w ith ag credit, real
estate mortgages, cash flow projections. Please
send resume and salary requirements to:
First Security Bank & Trust
Box 250
Miles City, Montana 59301

A ffiliated Midwest Bancs Inc., a progressive group o f six
banks is looking for a COMMERCIAL LOAN OFFICER for a
$33 m illion bank in S.E. Nebraska; and an AGRICULTURAL
LOAN OFFICER for a $60 m illion bank in central Iowa.
Prefer 3-5 years experience fo r both positions. Salaries
commensurate w ith experience. Send resumes to Jack
Ayres, P.O. Box 486, Bellevue, NE 68005.
AG LENDER for central Iowa bank. Several years lending
experience required. Operations and/or com puter exper­
ience a plus. Send resume and salary history in strict con­
fidence. Salary commensurate w ith experience. W rite file
TBT, c/o Northwestern Banker.
PRESIDENT—$24 m illion bank in Fort Madison, Iowa.
Must have lending background and a bility to produce a
high performance bank. Contact: Larry Wenzl, P.O. Box
1622, Des Moines, Iowa 50306. Phone: 515/244-5111. (PA)
Ag Loan Officer— Northwestern Illinois $50 m illion com­
m unity bank needs an Ag Loan O fficer w ith minimum of
3-5 years experience. Excellent opportunity in a good rural
community. Call Andy Rogers, First National Bank of
Galena, IL. Phone: (815) 777-0344.
Mountain Lake, MN. Salary $20,000 to $30,000 plus com­
mission. Experience needed. Call or send resume to:
James G. Sneer, Farmers State Bank, Mountain Lake, MN
56159. Phone: 507/427-2422._________________
largest banks. Strong lending background w ith opera­
tional experience. Send resume. Write file TBV, c/o North­
western Banker.
Bank affiliated agency has immediate opening for ex­
perienced INSURANCE AGENT. Please send resume or
direct inquiries to: Larry Stobbs, P.O. Box 69, North Platte,
NE 69103, Phone: 308/532-5570.




Four-window bank teller counters with returns—cherry
wood and form ica, black marble deal plates. Available im­
mediately. Call National Bank of Rockwell City, Rockwell
City, Iowa, Ted Stacy, Vice President. Phone: 712/297-7547.


3 BURROUGHS L9 MACHINES— 1 not on maintenance but
in use $1,000.00; 9500 on maintenance + reader $2,000.00;
9900 on maintenance + reader $3,000.00; S1200 Proof on
maintenance $1,500.00. Contact Lois, Bank of Toronto,
SD. Phone: 605/794-4811._______________
bank, 100% o f approved holding company, assets over 10
m illion, 1.75 tim es book value. Price $1,300,000. Serious
and qualified buyers only. W rite National Banking Com­
pany, P.O. Box 14634, West Omaha Station, Omaha,
Nebraska 68124.


...Since 1937
Central Surveys, Inc.
P.O. Box 100
Shenandoah, Iowa 51601
____________ (712) 246-1630

CEO of high performance bank seeks new challenge w ith
Upper Midwest com m unity bank in or near a c ity of 10,000
population..............................................................Salary Neg.
Commercial Lender, age 36, over 10 years o f experience
w ith multi-bank holding company - proven track record
-solid references...........................................................$38,000
Senior Ag Lender, age 40, Iowa State Grad., handles $20
m illion portfolio with m inimal charge-offs. Could be strong
second man...................................................................$40,000
CEO heading com m unity bank for major m ulti-bank
holding company seeks position in Minnesota/Wisconsin
area. Excellent references................................... Salary Neg.
Commercial Lender, 40, over 10 years experience in $80
m illion bank. Works heavily in inventory and accounts re­
ceivable financing...........................................................Salary $35,000
Marketing Executive w ith commercial lending experience
w ith major midwest bank...............................................Salary $40,000
Attorney experience in trusts and estates plus high perfor­
mance investment record.............................................. Salary $45,000
Ag Lender w ith over 20 years o f experience and excellent
record. Prefers central or southern Io w a .. . .Salary $28,000
Auditor w ith multi-bank holding company. Over 15 years
experience — CPA d e g re e ........................................... Salary $36,000
Installment Lender w ith multi-bank holding company.
Seven years experience and college degree. Prefer north­
ern or central Iowa.......................................................... Salary $23,500
V.PJCashler w ith heavy operations experience. Prefer
eastern Iowa or Illinois location....................................Salary $25,000

At Pre-Construction Prices
W ith 12V2%* Financing
Paradise Properties
Box S Dillon, Colorado 80435
Phone 1-800-922-2590
‘ Subject To Change

Why Not a Higher Paying Position?
Call us and lets talk about your banking career.

R.E.B. & Associates
Executive Search Consultants
13625 C. St., Omaha, Nebraska 68144
Phone: 402/333-8248 or 333-6604

Ag Lander w ith Iowa State Degree and one year’s ex­
perience with major bank...............................................Salary $17,000
Ag Lender w ith Iowa State Degree and seven years ex­
perience........................................................................... Salary $30,000
If you need qualified office r material, call or w rite Malcolm
Freeland, Freeland Financial Services, Inc., 1032 Carriers
Bldg., Des Moines, Iowa 50309. Phone 515/282-6462.
Employer pays modest fee.

If you are concerned about the current I.B.A dues struc­
ture, w rite file TBU, c/o Northwestern Banker.

Banking, Financial & Business Personnel
Iowa and Nationwide

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

CEO for central Illinois com m unity bank o f $20 m illion.
Must have good track record in lending and adm inistration
plus college de g re e ...........................................Salary Open.
Commercial Lender for eastern Iowa m ulti-bank holding
company located in larger city. Must have extensive com­
mercial loan experience............................. Salary to $45,000
Senior Ag Lender for major Iowa bank. Must have ex­
perience in dealing w ith larger ag loans plus ag degree.
Bank experience essential..........................Salary to $45,000
Commercial Lender for major Iowa bank. Must have three
or more years in commercial lending/documentation plus
college degree.............................................. Sslary to $40,000
Chief Operations Officer for bank located in suburb of
Twin Cities. Must know internal operations and be a good
a d m in is tra to r..............................................Salary to $30,000
Commercial Lender for Wisconsin bank - a member of
multi-bank holding company. Excellent future opportun­
ities..................................................................Salary low$30s
Ag Lender w ith two or more years o f bank experience and
operations background for northwest Iowa community bank.
Must be oriented to smaller town and ag area. Salary $28,000
Ag Lender for larger com m unity in southern Minnesota.
Must have banking experience of at least tw o years and
college degree in ag................................... Salary to $30,000
Ag Lender for eastern Iowa com m unity. Should know
operations........................................................Salary $25,000
Ag Lender for northern Illinois bank located in scenic area.
Must be experienced in a com m unity bank and be able to
go right to w ork...............................................Salary $26,000
Operations person for southern Iowa county seat town.
........................................................................... Salary $23,000
W rite or call Malcolm Freeland o f Freeland Financial Ser­
vices, Inc., 1032 Carriers Bldg., Des Moines, IA 50309.
Phone 515/282-6462. Employer pays fee.

USED IN-HOUSE IBM or DIEBOLD ATM. C ontact R. Greeson, Hayesvllle Savings Bank, Hayesville, Iowa 52562.
Phone: 515/622-2337.

OPERATIONS—$50MM com m unity bank. Handle internal
operations, reports and personnel. Degree preferred.
PRESIDENT—small rural bank close to larger city.
Background in Ag lending and previous adm inistrative ex­
perience desired.
CORRESPONDENT OFFICER—bank operations and sales
background preferred. Sixty percent travel involved w ith
vehicle furnished.
$25,000 +
CASHIER—a ffilia te of large M issouri holding company.
Responsible for operations and accounting functions.
COMMERCIAL LOAN—addition to s ta ff o f large surburban bank; 1-2 yrs. exper. w ith commercial loans and
degree required.
OPERATIONS/CONTROLLER— accounting degree and
minimum 3 yrs. bank experience.
AGRI LOAN—$20MM rural bank needs experienced Ag o f­
ficer to oversee lending function.
Forward resume' and salary history. All inquiries confidential.

of Kansas City
2024 Sw ift - Box 12346
North Kansas City, MO 64116
_______ “ Serving the Banking Industry Since 1970”

Vol. 12 No. 4 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, $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