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• Vol. 17 No. 5 May 16,1988 Des Moines, Iowa Farmer Mac Interim Board Appointed RESIDENT Reagan announced last week the names of eight of P the nine persons who will serve on the interim board of directors of the Federal Agricultural Mortgage Cor poration, more commonly known al ready as “Farmer Mac.” The new organization was authorized by Con gress recently as part of the Farm Credit System bailout bill. The pur pose of Farmer Mac will be to pro vide a secondary market for agricul tural real estate and rural housing loans. The President was required by law to name nine persons to an in terim board, which will oversee the Isale of $20 million in stock that will initiate the secondary market. The interim board will arrange for the sale of voting stock in two classes: one offered to FCS institutions, and the other to financial institutions, including banks, savings and loans and insurance companies. The board also has a duty to arrange for the selection of a 15-member permanent board which will oversee the actual startup of the new ag secondary market. Of the nine appointees to the in terim board, the President was to appoint three from the public-atlarge, three from FCS institutions, and three from among banks, s&ls and insurance companies. Among the eight appointees announced last week are two prominent bankers and a life insurance executive. They are: • Randall A. Killebrew, president since 1974 of the First National Bank of Petersburg, 111. Mr. Kille brew was chairman of the ABA and IBAA Special Task Force for Agri cultural Credit which focused on the Farmer Mac concept as a top ABA priority two years ago. He is also a nominee to serve on the ABA board of directors for a three-year term beginning in October, 1988. Mr. Kil lebrew was vice chairman of the ABA Government Relations Coun cil and is a past chairman of the ABA Community Bankers Council. • Thomas H. Olson,. president since 1973 of the Lisco State Bank in Lisco, Neb. Mr. Olson is the im mediate past president of the In dependent Bankers Association and now chairman of its board of direc tors. Mr. Olson also served a key role on the ABA and IBAA Task Force for Agricultural Credit and, like Mr. Killebrew, has testified on that subject and a number of others before Congressional committees in recent years. He also is currently chairman of IBAA’s Federal Legis lative Committee and is a past chair man of its Agricultural Rural Com mittee. • Leslie G. Horsager, vice presi dent since 1985 of Prudential In vestment Corporation and head of the Prudential Agricultural Invest ments Group in Sea Bright, N.J. The other five announced appoin tees are: • John R. Dahl, a rancher with the Dahl Land & Cattle Company in Gackle, N.D. The President ap pointed Mr. Dahl as chairperson of the interim board. • Edward Charles Williamson, Jr., since 1978 manager, director and vice president of J.L. Adams Farms in Camilla, Ga. • B. Dale Harrison, chairman since January, 1988, of the Fourth Farm Credit District Board in Eas ton, Oh. He is also a farmer. • James A. Pierson, president and CEO since 1987 of Farm Credit Banks of Springfield in Agawam, Mass. • Donald R. Rogge, president since 1986 of Federal Land Bank of Texas in Austin, Tex. The ninth interim board member was expected to be appointed momentarily. A special article titled “Preparing for Farmer Mac” and authored by Jeff Rodman, vice president of marketing for MABSCO Agricultur al Services, Inc (MASI), Des Moines, appears in the May N orth western B anker . In it, Mr. Rodman gives an overview of Farmer Mac legislation and its potential. He also tells what banks can do to pre pare for Farmer Mac usage by their banks. □ Now th e largest regional processor in th e M idw est shows you exactly w hat we provide. 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Iow a 52406 319*395-6600 A Banks o f lowa subsidiary W kH Norwest Bank Des Moines, N.A. mmmmm N O R W E S T BANKS mmmmm mmymm Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC Yearn work: one of the reasons we’re first in Iowa. Mark Conway John Rigler Iowa News The Iowa Bankers Association will sponsor a seminar entitled “The Expedited Funds Availability A ct“ at two locations in June. The seminar will assist banks in the design of operational, compliance auditing and loss prevention pro cedures in relation to the Act and the new Regulation CC. It will be held on June 7 at the Hotel Savery in Des Moines and June 8 at the Holiday Inn in Iowa City. Registra tion is at 8:30 a.m. and the seminar runs from 9:00 to 5:00. Fee is $155 for IBA members, $190 for subscri bers and $230 for nonmembers, with $20 additional if paid at the door. Fee covers lunch, breaks and hand outs. To register, contact the IBA. M ÊÊÈm ÊÈÊSS M ¡ g i l i l Terry Martin MNB Correspondent Banker Together We Can Accomplish Great Things The IBA and Bankers-TV Net work will present a teleconference entitled “How to Profit from the Adjustable Rate Mortgage and Home Equity Line of Credit" on June 16 at three locations. Registra tion is at 9:00 a.m. with the program running from 10:00 to 4:00. Fee is $135 for IBA members, $170 for subscribers and $200 for nonmem bers, with $20 additional due after June 10. Fee covers training, materials, refreshments and lunch. Locations are Des Moines Area Community College, Ankeny; Kirk wood Community College, Cedar Rapids; Buena Vista College, Storm Lake. Contact the IBA to register. * * * The Iowa School of Banking will be held on June 12-17 at the Univer sity of Iowa in Iowa City. The course is directed to first-level, ex empt and midlevel managers and is a preparatory school for graduate level study. Tuition is $650 for IBA members and includes room, meals, casebook and study materials. For information about enrollment re quirements, contact the School Registrar at the IBA. CLARION: First National Bank of Clarion recently announced several promotions. Among these was the advancement of Duane Asbe to vice president and trust officer. Mr. Asbe formerly was cashier and trust of ficer and has been with the bank since 1972. DES MOINES: J. Locke Macomber, chairman of Valley National Bank, has retired from daily involvement at the bank. He will continue to serve as chairman through Dec ember. Mr. Macomber has been with i Valley for 36 years. He was original-" ly hired to head up the bank’s new trust department in 1952. FOREST CITY: On May 6, Forest City Bank & Trust was closed and sold to the newly-formed Winnebago County Bancorporation, headed by William Krause. The bank was re opened on May 9 as Liberty Bank & Trust. Poor ag loans were cited as the main reason for the bank’s failure. The new bank retains all $26.8 million of Forest City’s loans and securities. The new bank holding company paid $1.7 million for the bank and the FDIC con tributed another $1.2 million. Mr. Krause is president of Krause Gen tle Corp., owner and operator of 131 Kum & Go convenience stores in five states. He also has interests in seven other Iowa banks and one in Wiscon sin. SPENCER: Dale Boswell has been promoted to vice president of the Farmers Trust & Savings Bank. He has been with the bank one and a , half years and heads the agricultural ’ loan department. Mr. Boswell previ ously was employed by the Farm Credit System. Montana News The Montana Bankers Associa tion will present a seminar on May 26 at the Colonial Inn in Helena en titled “The Expedited Funds Avail ability Act.” The seminar will ad dress the impact of Regulation CC on the daily operations of banks, and will consist of formal presentations and panel discussions. Attendees will receive a certificate of training. Registration begins at 8:30 a.m. and the program runs from 9:00 to 5:00. Fee is $165 before May 20 and $195 after. Contact the MBA to register. For Professional Correspondent Service Call 1-800-622-7262 Call 319-368-4320 or toll free 1-800-332-5991 The Strength ot Eastern |o w a ^ Valley National Bank in Merchants National Bank m Cedar Rapids. Iowa 52401 Member F 0 1C https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ThereJs A Difference In Banks... A BANKS OF IOWA BANK Main Office - Sixth and Walnut DES MOINES, IOWA 50304 A BANKS OF IOWA BANK Member FDIC JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President 2A Iowa Bankers Visit Washington URING their annual trip to Washington, D.C., D elected officers and other members of the Iowa Bankers Association and their spouses visited with • ® ® w Iowa’s two Senators and five Representatives, as well as officials at the FDIC, Comptroller of the Currency, Federal Reserve Board and the USD A. The accompa nying photos show a number of the participants in those activities. The official part of the visit got underway Monday morning with a legislative briefing at headquarters of the American Bankers Association. ABA Executive Vice President Don Ogilvie and other federal legis lative and staff personnel reviewed a number of areas of legislative and regulatory importance to the banking industry. During a luncheon at the Federal Reserve Bank, the Iowa group pictured on steps of Supreme Court building. Iowa group was hosted by FR Board member Martha Seger, who spoke briefly. She said the deficits need to be addressed, but Congress “does not seem alarmed because they see no signs of calamity. We’re already four years past when some economists said we’d fall PICTURED at IBA’s Monday night dinner party are, from left to right: ABOVE— Mary and Clair Lensing, pres., Farmers State, Marion; Bar bara and Sen. Charles Grassley; Don Snyder, pres.-elect IBA and pres., Manufacturers B&T, Forest City, and Clare Snyder; Ginger and Arthur Davis, genl. counsel IBA; Ruth and Sen. Tom Harkin; Marvin Mazie, pres., Valley Natl., Des Moines, and his daughter, Barbra. BELOW— la. Supt. of Bkg. Ed Tubbs and Grace; Sen. Harkin; Donna and Bill Wilson, pres., Oelwein State; Carol and Paul Payne, exec, v.p., 1st Natl., Muscatine; Repr. Jim Leach, Davenport, 1st Cong. Dist., and Deba Leach, and Kay and Bill Bernau, pres., Peoples Savings, Crawfordsville. PICTURED at briefing at U.S. Dept, of Agriculture bldg, were, from left: Secy, of Agric. Richard Lyng; IBA Pres. Lensing; Wes Ehrecke, sr. v.p. IBA, Des Moines; FmHA Admin. Vance Clark, and Mr. Tubbs. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (into recession).” At the USD A, the group was addressed by Secretary of Agriculture Richard Lyng and FmHA Administrator Vance Clark. Mr. Clark discussed the domestic and foreign ag economies, while Mr. Clark talked of the role FmHA is taking in ag financing. Mr. Lyng said he expects close to $3 billion payments will be made to Iowa farmers in 1988, somewhat less than the 1987 figure. He sees ag exports of $33 billion, com pared to $24 billion a year ago, for an ag trade surplus nearing $10 billion in 1988. He said soybean reserve stocks have been depleted and corn reserves have been reduced dramatically. There are now 26 million acres of land in the long-term reserve program and “Our goal is 45 million acres.” FDIC Chairman William Seidman hosted the 2 Iowans at a breakfast at the FDIC. He said steps are being taken to assure th at FDIC bailout money will not extend to stockholders or management of assisted banks, regardless of size. He said FDIC is adding 650 M persons to its staff at this time. Mr. Seidman also said ^ the agency will work for the “whole bank” concept in stead of purchase and acquisition or liquidation pro cedures as generally used in a bank failure. Most of the Iowa group arrived for an extended weekend in the nation's capital before the meetings started and found the city in full bloom with spring flowers. Social activities included a Monday evening dinner, with Iowa Congressmen and their spouses and federal agency officials as guests. □ PICTURED at Congressional Breakfast hosted at the Democrat Club by IBA for Iowa Congressmen are, left to right: ABOVE—Clare Snyder, Forest City; Pat Eriksen, W illiam s & Co., Sioux City; Howard Logan, pres., 1st T&S, Moville; Craig Tofty, adm. asst, to Repr. Grandy; Gene Hagen, pres., Security Natl., Sioux City; Don Snyder, pres.-elect IBA and pres., Mfrs. B&T, Forest City; Repr. Fred Grandy, Sioux City, 6th Cong. Dist.; Repr. Neal Smith, Altoona, 4th Cong. Dist.; Marvin Mazie, pres., Valley Natl., Des Moines; Tom Dawson, admin, asst. to Repr. Smith; Peggy Haller, v.p., Northwestern Banker, Des Moines; Ginger and Arthur Davis, geni, counsel IBA, Des Moines. LOWER—Scott Fetner, pres., Natl. Bk. of Waterloo; Repr. Dave Nagle, Waterloo, 3rd Cong. Dist.; Susan Keith, asst, to Repr. Nagle; Max Buck, atty., and Joyce Buck, cash., Central State, State Center; Bill Wilson, pres., Oelwein State; Repr. Tom Tauke, Dubuque, 2nd Cong. Dist.; Donna and Joe Daly, pres., Farley State; (and at right side of table, from back to front) la. Supt. of Bkg. Ed Tubbs and Grace; Florence and Bill Stout, pres. American T&S, Lowden. LEFT—ABA Exec. V.P. Don Ogllvie (second from left) is pictured at ABA briefing w ith IBA officers (from left): Pres.-Elect Don Snyder, Forest City; Pres. Clair Lensing, Marion, and Exec. V.P. Neil Milner, Des Moines. RIGHT—William Seidman (second from left), chmn. of FDIC, hosted bankers for breakfast at FDIC. W ith him (from left) are Mr. Snyder, Mr. Lensing, and la. Supt. of Bkg. Ed Tubbs. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ^ ™ ^ ™ # OVER 60% OFALL BANKS IN OUR MARKETAREA ARE NO W INSURED BY THE KANSAS BANKERS SURETY COM PANY That’s R ig h t. . . in the nine states w e serve w e h ave solved th e b on din g needs for 6 of every 10 banks. That's over 1 6 .4 % of a ll banks In the U nited States THE REASONS. . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DAVID E. ABENDROTH Senior Vice President DONALD M. TOWLE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving the H e artlan d of A m eric a since 1 9 0 9 OVER 60% OF ALL BANKS IN OUR MARKET AREA ARE NO W INSURED • BY THE KANSAS BANKERS SURETY COM PANY That’s R ig h t.. .In the nine states w e serve w e h ave solved th e bon din g needs for 6 of every 10 banks. That's over 1 6 .4 % of a ll banks in the U nited States THE REASONS. . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DAVID E. ABENDROTH Senior Vice President DONALD M. TOWLE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving th e H eartlan d of A m eric a since 1 9 0 9 # BRANCH MANAGER, BA This well-rounded banker has sales ability and managerial skills. Has 10 + years banking experience which includes the management of a 145mm branch facility coordinating all consumer and real estate loans and the deposit gatherW ing function. Has also been successful in developing business. Has a desire for career advancement. BBI58808 Asking: Low $30’s PRESIDENT, BS This administrator has 12 + years lending experience with an emphasis in commercial and agricultural lending. Currently vice president of a mid-sized bank administering it’s entire loan portfolio. Also actively involved with the day-to-day operation of the bank. A true believer in community involvement! BBI58809 Asking: High $30’s CONSUMER LOAN M ANAGER, BA Do you want to increase your credit life insurance penetration? This energetic professional has 6 + years consumer banking experience and is currently the sales finance buyer with a growing branch facility. Has directed the real estate lending function along with dealership floorplans. Has the ability to motivate staff! BBI58810 Asking: Mid $20’s CREDIT ANALYST, BS This analytical professional will make sure your files are well maintained! Has 4 + years experience with a major Twin Cities bank performing internal audits and credit exams. An energetic technician with a keen sense of urgency! Excellent work ethic! ^ BBI58811 Asking: Low $30’s SR. LENDER, MS This motivated leader will encourage team spirit! Has 15 + years ag/commercial lending experience and has been ac tively involved with staff training. A true professional with excellent management ability! BBI58812 Asking: Mid 140’s AG LOAN OFFICER, BS How about an ag lender who will communicate effectively with your clientele? This diligent banker has 4 + years experience in a rural bank and currently administers a $6mm dairy portfolio. Also has experience with installment and real estate loans. Excellent analytical ability! BBI58813 Asking: Mid $20’s P a u l G e n tz k o w Placement Manager B ill B e n so n Banking Specialist The Banking Division Robert Half of Minnesota, Inc. 3636 IDS Center, Minneapolis, MN 55402 (612) J39-9001 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The Right Results, Time After TimeSM Paul Gentzkow B an k er s® ; lA N K E R S P ^ Some special candidatesfrom Robert Half’s Banking Division 8M PRESIDENT, M BA This top-notch executive can make things happen at your bank! Has 10 + successful years with a $ 100mm bank directing all lending operations. An excellent business developer with proven leadership ability. A high image profes sional you don’t want to overlook! BBI58801 Asking: High $50’s M ID-M ARKET COM ’ L LENDER Do you need a sharp commercial lender with outstanding negotiating skills? This bright banker has 6 + years mid market commercial lending experience in the Twin Cities. An excellent marketer who has also had formal credit training. Willing to bum the midnight oil for you! BBI58802 Asking: Low $30’s COMMERCIAL LENDER, BA Are you looking for a commercial lender with strong business development skills? Don’t miss an opportunity to con sider this personable professional who has 4 + years E & P/commercial lending experience! Currently administers a $l6mm loan portfolio marketing to upscale executives. A top candidate!! BBI58803 Asking: Mid $30’s J R . COMMERCIAL LENDER, BA < This energetic banker has the perfect combination of technical skills and business development ability. A highly motivated professional with formal credit training and 3 + years credit analysis experience. Ready for that chance to get into commercial lending. BBI58804 Asking: Mid $20’s CASHIER, BA Are you concerned with the smooth operation of your bank? Here’s an industrious cashier with 10 + years ex perience. Currently Vice President and Controller of a mid-sized bank directing internal controls, accounting and data processing. BBI58805 Asking: Mid $30’s SR. AG LOAN OFFICER, BA Is it time to liven up your ag department? This conscientious ag lender has 9 + years experience and currently manages the entire ag division in a mid-sized bank. Has experience with loan workouts, farm real estate and bankruptcies. Ready for a new challenge! BBI58806 Asking: High $30’s REAL ESTATE LOAN M G R ., BA This self-motivated mortgage banker does it all! Currently heads up the real estate department in a mid-sized bank managing a staff of 12. Administers all real estate lending policies, including pricing, underwriting and the secondary marketing function. Has a successful track record of increasing annual mortgage volume. Prefers the Twin Cities, but willing to relocate. BBI58807 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Asking: High $20’s Send Your News Today to the NORTHWESTERN BANKER TELL US ABOUT. . . 1535 Linden Street, Suite 201 DES MOINES, IOWA 50309 Staff Changes Business Campaigns Mergers, Consolidations New Departments at the Bank Remodeling or New Building BANK .......... ........................................................................ . OFFICER ........................................................... ......... TITLE CITY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STATE Open Houses Anniversary Parties Deaths or Retirements Speeches Made by Bank Officers Special Announcements to the Public tUUJIIlHM North and South Dakota Bankers V isit W ashington, D.C. OFFICERS of the North Dakota and South Dakota Bankers Associations led their state bankers for the annual W ashington, D.C., visit to call on their Congressional delegations and federal regulatory officials. Pictured during their firs t morning briefing at ABA headquarters were these association officers and ABA legislative reps., from left to right in each photo: LEFT— Dennis O’Toole, ABA staff dir. of legis. oper., chats with North Dakota officers: Pres.-Elect Roger Berglund, pres., Dakota Western Bank, Bowman; V.P. &Treas. Ken Reno, pres., United Bank of Bismarck; Pres. John Pierson, chmn. Norwest Bank North Dakota, Bismarck/Mandan, and Exec. Dir. Harry Argue, Bis marck. RIGHT— Floyd Stoner (extreme right), ABA fed. legis. repr., briefs South Dakota officers: Immed. Past Pres. Michael Broderick, pres., First American, Canton; Pres.-Elect Christine Schirber, exec, v.p., Dewey County Bank, Isabel; Pres. Larry Ness, pres., First Dakota Natl., Yankton, and Exec. V.P., Milt Schwartz, Pierre. Nebraska News The Nebraska Bankers Associa tion annual convention at the Red Lion in Omaha May 19-21 should have excellent attendance, based on pre-registration figures recorded May 5—a full two weeks before the convention. On that date, NBA had already pre-registered 396 people for full registration (274 bankers and 104 spouses), plus an additional 418 BANKING registrants for the Friday night reception, dinner and show, for a grand total of 814 already pre registered. The 91st convention gets underway Thursday, May 19, with registration throughout the day, with a tradeshow reception at 5:00 p.m. and hospitality night at 6:00 p.m. General sessions will be held throughout Friday, with the NBA reception and banquet starting at 5:30 p.m., the Smothers Brothers 'Professional assistance in hiring and career advancement" quality service by experienced professionals 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 Jean Eden Sandi Garner 515 - 276-1151 515 - 832-1258 Tues / Wed / Fri Confidential. Fees Paid by Employer. show at 8:30 p.m. at the Orpheum Theater, and the Inaugural Recep tion and Dance at 10:30 p.m. The program concludes Saturday morn ing with an awards breakfast at 8:30 a.m. Minnesota News BLOOMINGTON: First Wisconsin Corporation, Milwaukee, has an nounced it has reached an agree ment to acquire Metropolitan Bank Group, Inc., a $200 million one-bank holding company which owns the M etroB ank, h ead q u artered in Bloomington. When completed the acquisition will make First Wis consin the fifth largest banking com pany in the Twin Cities area, with assets of more than $612 million. Metropolitan has six locations, which will give First Wisconsin a total of 19 locations in the Twin Cities. The name and staff of MetroBank will remain the same. COUNTONII Count on Com m erce for superior capabilities and personal attention to your correspondent banking n eed s. A combination w e’ve upheld for m ore than 120 years. Give us a call. 1- 800- 892*7100 1- 800- 821-2182 (Outside Missouri) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis iî>t Commerce Bank o f Kansas City F irs T ie r Correspondent Services 5 More of what it takes to serve you well. F irs T ie r B an ks Lincoln • Omaha FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC MINNEAPOLIS: On May 1, Min nesota First Banks outside the Twin Cities merged into four banks, grouped as follows: First Bank f North—Duluth, Cloquet; First Bank South—Mankato, Fairmont; First Bank Southeast—Austin, Owatonna, Rochester, Albert Lea; First Bank Central—Alexandria, Brai^ nerd, Willmar, St. Cloud. The action was a result of branch banking legislation passed in 1987. OAK PARK HEIGHTS: Oak Park Bank, Oak Park Heights, was closed on April 29 and reopened May 2 as The St. Croix Valley Bank. The failed bank was acquired by St. Croix Valley Bancshares, Inc., and The St. Croix Valley Bank is a newly-chartered subsidiary of that Bloomington-based holding com pany. The St. Croix Valley Bank assumes about $15.3 million in deposits and will purchase all the failed bank’s $14.1 million in assets t a discount of $3,348,000. New »resident of the bank will be Michael A. Morrison. # ST. PAUL: The board of directors of Bremer Financial Services, Inc., has announced the promotions of Lyle Sorum to senior vice president/director of marketing and Tony Albrecht # to vice president—investments. Mr. Sorum joined Bremer in 1984 from First Bank Grand Forks, where he served as president/CEO. He also served FBS as a vice president and # manager of training in Minneapolis. Mr. Albrecht came to Bremer last year from Bankers Trust Company in Des Moines. * m ^ DOES YOUR BANK NEED AN INVESTMENT CENTER? • New high net worth customers • Added profit • Reduced deposit loss to competitors • Ability to offer complete financial services Your benefits: 1-800-544-7113 First Dakota Building P.O. Box 2796 Bismarck, ND 58502 or P.O. Box 65697 West Des Moines, IA 50265 to one bank named First Bank of North Dakota. The bank consists of First Bank Birsmarck, First Bank Fargo, First Bank Grand Forks, First Bank Jamestown and First Bank Minot. Each bank will retain its own name. The consolidation follows new branch banking legisla tion passed in North Dakota last year. FARGO: First Bank Fargo has an nounced that Marshall MacKay will join the bank as vice president and product group manager, effective June 1. He currently serves as vice president and loan and administra tive services manager for First Bank System Services—Regional Com munity Banking in Minneapolis. Rich Schirber will manage loan and administrative services in addition to his current responsibilities as vice president and transaction process ing manager. North Dakota News On April 1, the North Dakota First Banks legally consolidated in- J e ff S im s https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Correspondent Services South Dakota News RAPID CITY: First Bank Rapid Ci ty has announced tiijiat Jim Mirehouse is its new president. Mr. Mirehouse stepped in last January for former president Ron Brue following the latter's unexpected ill ness. Mr. Brue continues to recuper ate, and will return to the bank as executive vice p resident. Mr. Mirehouse began his career in ag credit at First Bank Great Falls, Mont., in 1979. He transferred to First Bank Havre, Mont., in 1984 and was named president and CEO later that year. In 1986 he was named senior vice president of FBS Credit Services, Inc. and Agricul tural Credit Corporation, and later named chairman of the newly-ac quired First Bank Washington. In June of 1987 he was named product support manager in FBS’s regional community banking in Minneapolis. Capital improvement plans and other management services SWORDSASSOCIATES,INC. PROFESSIONAL BANKING CONSULTANTS 4900 OAK SUITE 301 KANSAS CITY, MO 64112 (816) 753-7440 S tu a rt Becker Correspondent Services 6 POSITIONS AVAILABLE CASHIER—$15mm bank. Contact File No. WNH c/o Northwestern Banker. (PA) BRANCH MANAGER with good background in ag lending wanted for western Neb. bank. Insurance bkgd. helpful. 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Purchase of Collections Reliable and respected service for over 20 years FOR SALE 20 Burroughs TT102 TELLER TERMINALS. All terminals in working condition and are currently under contract. Make offer—contact Ron Winquest at First National Bank of York, York, Neb. (402) 362-7411. (FS) Estate Appraisals Financial Careers, Inc. CAPITAL PERSONNEL SERVICE Two Ruan Center/Suite 1000 Des Moines, IA 50309 515/245-3786 815 Office Park Rd., Suite 6 West Des Moines, Iowa 50265 515-226-0510 Employer pays fee. Contact Lorraine Lear or Malcolm Freeland concerning Midwest Banking opportunities. FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 POSITIONS AVAILABLE AG LENDER • $75 million bank - degree. Need 4-5 years experience. To$30K SERVING THE UPPER MIDWEST COMM. LENDER • Need several years exp., in cluding workout. To$50K Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 RYAN AUCTION CO., INC. R e g e n c y RECRUITERS, INC. Diane Evans 1102 Grand Avenue, Kansas City, MO 64106 816/842-3860 Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319-382-8648 CALL PAUL GENTZKOW OR BILL BENSON R O B E R T MffaLF OFMMNESOTA.MC. 3636 IDS Center Minneapolis, MN 55402 "Successful Banking is Quality Personnel" P O S IT IO N S A V A IL A B L E VP OPERATIONS Great location, super oppty for proven operations profes sional. If you have prior mgt exp. and 3 + years of bank acctg, call reports. $30K. COMM’L LOAN OFFICER Are you looking for growth and new horizons? Strong bank near metro area offers $8M + portfolio and great stepping stone position. Must have comm’l training and new business development skills. $36K. SR VP Head lending position in progressive cty seat bank. Must be capable of developing business, calling on current customers and motivating staff. Will have 8 + years of len ding, primary focus on small commercial, light mfg and large ag lines. $55K. FDR FURTHER INFORMATION CONTACT KURT ROSENCRANTS R O D E R T HALF OF IOWA. MC 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID P O S IT IO N S A V A IL A B L E VP COM’L LOAN OFF.— Looking for an excellent career pathing opty? Mid-sized bank in super W. Wis. location seeks self-motivated com’l lender with 5 + yrs exp. A great chance to speed ahead! To$50K. Job#NW3256 £ COM’L LENDER— Here’s a super career pathing opty! Ind. bank in growing ND commty has immediate opening for a ^ h t com'l lender. Must have 3 + yrs com’l lending exp a n c ^ ^ H strong sales skills. To$30K. Job #NW3257^ ^ f INSURANCE AGENCY MGR.—Are you an ambitious pro fessional seeking a better opty? Mid-sized bank in S. Wis. has opening for an insurance agency mgr. Must have 2 + ^ yrs general casualty exp. To$20K. Job#NW3258 W POSITIONS AVAILABLE (612) 339-9001 0 ALL FEES COMPANY PAID PRESIDENT, $20mm suburban bank, growth ori ented ........................................................ $50-60,000. PRESIDENT $30mm, one-rated, top earner, outstate ........................................................ $50-60,000. PRESIDENT, $30mm, ag bank, privately owned .. ........................................................................ $50,000. PRESIDENT, $40mm, two-rated, ag bank, good in dustry base ..............................................$60-65,000. PRESIDENT, $60mm, outstate, 10,000 population, strong m arketer.................... $60,000 + incentive. PRESIDENT, $75mm, strong capital, growth aver age, ownership potential ........................... $75,000. PRESIDENT, $80mm, solid industry, advanced educational facilities .............................$75,000 + . CONTROLLER, $150mm, top earner . .$40-45,000. COMPENSATION SPECIALIST, banking back ground only ..............................................$35-40,000. ASST. MGT. CREDIT DEPT., over 15 analysts, Lotus 123, top bank ...................................$31,000. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 POSITIONS AVAILABLE £ TRUST MARKETING - large urban bank. Requires degree and trust experience. $35K REAL ESTATE LOAN - single family residential and secon dary market experience required. Proximity of major metro area. $40K LOAN REVIEW • large bank experienced required. Both junior and senior level positions available. $28-$40K COMMERCIAL LENDING ■V.P.positions in urban and large suburban banks. Personal portfolios from $20MM to $50MM. $40K BRANCH MANAGER • handle small business and con sumer credits. Med-.size community affiliate of multibank holding company. $24K Additional listings for commercial lending and trust officers. Resume' requested. TOM HAGAN & ASSOCIATES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 "Serving the Banking Industry Since 1970" Vol. 17 No. 5 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0 ^
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