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0 Vol. 11 No. 4 Des Moines, Iowa IB A A Tells President: May 17,1982 munity would lose the benefits of flexible credit pricing. Mr. McCormick is also president/ CEO of the Stillwater National Bank and Trust Company, Still ment to the Bank Holding Company water, Oklahoma. □ Act (which prohibits interstate branching absent affirmative state Iowa News action) as “naive,’’ “outmoded,” and “unjustified.” Treasury Sec DES MOINES: United Central retary Regan has also been an out Bank recently announced that Vem spoken proponent of long-range re Hoskinson will be joining the bank forms which would lead to interstate as vice president, operations. He deposit-taking and the elimination previously was with the Federal of specialized financial institutions. Reserve Bank of Kansas City as as “These suggestions run counter sistant vice president, responsible to the longstanding American policy for operation of check collection favoring decentralization of finan department. cial power, and will lead inevitably to a massive reduction in the num DES MOINES: Frank Warner, 94, ber of community banks and an in who served as secretary of the Iowa crease in financial concentration.” Bankers Association for 50 years IBAA’s McCormick warned the and four months— 1916 to 1966— President, “Policies which foster the died at his home here May 11. There elimination of small banks will di was no funeral service. The body minish the personal financial rela was cremated and inumed in Sun Ci tionships which are the primary ty, Ariz. He is survived by his wife, credit support of local consumers, Dora, of 4324 Harwood Drive, Des small business and agriculture.” In Moines 50312. dependent community banks such as First National Bank of Plainfield HUMBOLDT: Paul A. Childers has are community-sensitive financial recently joined Hawkeye Bank and institutions, said McCormick, which Trust as vice president and senior can offer credit at interest rates lending officer. Prior to joining responsive to the particular supply Hawkeye, Mr. Childers was execu and needs for money within the com tive vice president and senior lend munity. Mr. McCormick added that ing officer of the Fairmont National interstate branches of money center Bank in Fairmont, Minn. He also banks would carry the money cen has held officer positions with First ters’ prime rate and that a local com National, Sioux City, Omaha Na- # Match Small Bank Praise With Policies RESIDENT Reagan’s praise of a small Indiana bank’s belowP prime lending efforts is inconsistent ^ ^ 0 % Q # • with Administration-backed propo sals supporting interstate banking and the elimination of specialized fi nancial institu tions, the Independent Bank ers Association of America has charged. In a letter to the Chief Execu tive, IB AA Pres ident Robert L. McCormick, Jr., said th a t the R.L McCORMICK, JR. President’s remarks about the First National Bank and Trust Company of Plainfield made during his weekly radio broadcast had focused favor able attention on small community banks, but that the Administra tion’s banking policies could lead to the demise of such community-ori ented financial institutions. He wrote: “We can only wish that your sup port of this small bank’s efforts was reflected in the banking policies es poused by principal members of the Administration. Attorney General Smith recently attacked the McFadden Act and the Douglas Amend CALL ON THE “PERFORM ANCE TEAM ” where comm on transactions are handled uncomm only well. FIRST N A T IO N A L L IN C O L N 13th & M Street https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lincoln, Nebraska 68501 • Member, F.D.I.C, 2 Bob Buenneke Team w ork: O ne of the reasons we’re first in Iowa. IOWA . nesjVKxnes Terri S te a m N ote Departm ent An Affiliate of Northwest Bancorporation B A N C O ^ Call (515) 245-3131 or toll-free (800) 362-2514 Mem ber FDic tional and First National in Lincoln, Neb. MOUNT AYR: Ralph P. DiCesare, Jr., has been named president and chief executive officer of the Securi ty State Bank. He previously had been serving as vice president and senior loan officer of Hawkeye Bank & Trust, Sioux City, since 1980. He began his banking career in 1973 at Houghton State Bank at Red Oak. MT. PLEASANT: Donald F. Carmody, president of Mt. Pleasant Bank & Trust Co., recently an nounced the promotion of Robert Eppard and Beverly Whaley to vice president. Mr. Eppard has been with the bank since 1969 and Mrs. Whaley since 1963. MUSCATINE: Charles S. Bullock has been appointed executive vice president and chief administrative officer of First National Bank of Muscatine. He will also serve on the board and have responsibilities in various areas of the bank’s opera tion. Mr. Bullock has served for the past two and one-half years as presi dent of the Community National Bank of Muscatine and prior to that as vice president of Clinton National Bank. He began his career in 1972. ROCKWELL CITY: Joe E. Hutch inson, president of Union State Bank, recently announced th a t Richard R. Bahls has joined the bank’s staff as agriculture represen tative. Mr. Bahls has been associa ted with Doane Agriculture Service, Inc. and more recently with the Pro duction Credit A ssociation of Creston as branch manager. Minnesota News BRECKENRIDGE: Don R. Hass SIOUX CITY: Gary L. Grote has has been named president of Far- # recently joined the staff of Hawkeye mers & Merchants State Bank. He Bank & Trust as senior vice presi had been serving as executive vice dent in charge of all lending ac president and director of Polk Coun tiv ities. Mr. G rote has been ty State Bank, Crookston, another N associated with the First National Bremer bank. Bank of Council Bluffs, most recent MINNEAPOLIS: Northwest Banly as vice president in the commer corporation plans to invest more cial loan department. than $1 million during the next few months to expand availability and SIOUX CITY: Thomas Pohlman, use of its Instant Cash automated Jay Visser and Daniel Taylor have teller machine network throughout been promoted to assistant vice its seven-state banking region. presidents of Northwestern Na Walter B. Miller, Jr., Banco’s senior tional Bank. Mr. Pohlman serves as vice president of consumer hanking, correspondent banking officer. Mr. stated their major goals as 1. get Visser joined the bank in 1978 and more people in the region using was named ag loan officer in 1979. Mr. Taylor was recently named man ager of Northwestern’s Momingside Bank. Nebraska News GRAND ISLAND: Edw ard O’Boyle has been named vice presi dent of Five Points Bank. He has been with the bank for four years as marketing director, where he’s in volved in commercial loans, opera tions, personnel and marketing. OCONTO: Frank Devine, president of Farmers Bank of Oconto, is going into semi-retirement and Charles Devine, cashier, will assume the presidency, announced officials of the bank. Frank Devine, who joined ^ W ith today’s rapid changes in banking technology, data processing is becoming an even more important management tool. That’s where I come in. Today, y o u r continued profitability is as im portant to Security National Bank as it is to you. *o«d«r ASK T E R R Y M A R T IN to make MNB work for you. Toll free 1- 800- 332-5991 Correspondent Bank Officer SecuntY National Bank W estern Iow a’s Largest SECURITY N ATIO N AL BANK Sioux City, Iowa 51101 (712) 277-6554 Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OMAHA: Ben K. Rankin has been N elected president of Ames Bank of Omaha, according to Robert H. Kruger, chairman. Mr. Rankin pre viously was serving as executive vice president and joined the bank in N 1969 as loan officer. Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA’ BANK Supplement to Northwestern Banker Newsletter 5-17-82 • Carleton D . Beh Company Investment Bankers / Financial Consultants 1300 Des Moines Building / Des Moines, Iowa 50309 5 1 5 /2 8 8 -2 15 2 AM OUNT $ 80,000 MUNICIPALITY BRITT, IOWA MATURITY YIELD TAXABLE EQUIVALENT AT 46% 12-1-82 8.75% 16.20 9-1-82 9.00% 16.67 12-1-83 9.25% 17.13 6-1-82 9.00% 16.67 6-1-82 9.00% 16.67 4-1-83 9.25% 17.13 6-1-82 9.00% 16.67 General Obligation Street Improvement Warrants Interest: 6-1 and 12-1 $200,000 DENISON, IOWA Sewer Revenue Pledge Orders Interest: 6-1 and 12-1 $ 60,000 GLENWOOD, IOWA Sewer Revenue Pledge Orders (HFA-EPA-DEQ Take Out) Interest: 6-1 and 12-1 $240,000 HARLAN, IOWA Electric Revenue Pldege Orders Interest: 6-1 and 12-1 $ 60,000 KEOKUK, IOWA Water Revenue Pledge Orders Interest: 6-1 and 12-1 $825,000 SPENCER, IOWA Electric Revenue Pledge Orders Interest 4-1 and 10-1 $150,000 TIPTON, IOWA Electric Revenue Pledge Orders Interest 6-1 and 12-1 # IN THE OPINION OF COUNSEL INTEREST ON THESE PLEDGE ORDERS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXATION AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. Pledge Orders are issued in accordance with the provisions of Chapter 384, Code of Iowa, 1981, as amended, to provide funds necessary for the construction of improvements to municipal utilities. In the opinion of counsel, # Pledge Orders are subject to the first lien of outstanding debt, if any, and together with such outstanding debt are payable solely and only from the future net revenues of the respective municipal utilites. 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Hutton & Company Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 660 ? 1 *• ' ’ ■ § ¡§ 1 .540 h B | IM S l‘ .90.0 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 5-17-82 Charting for Profit from Successful Farm ing. * A premium designed to protect your investment. If you work with farm clients, you’ve got a lot invested. In addition to taking care of the farm er’s checking and savings accounts, CD’s, and even retirement accounts, you also meet his cash-flow needs — to buy supplies, feeder pigs, calves, a new combine or four-wheel drive tractor...whenever he needs help financing his operation. Protect your investment by giving your pre mium farm customers the Charting for Profit book from Successful Farming magazine. Charting for Profit is a premium your customers will ap preciate since it helps them become better marketers of their commodities. The book shows how to keep charts, and how to spot signals for selling and buying. It includes detailed yet clear information on... • Trend identification • Volume and open interest • Chart formations • Elliott wave • Seasonal price patterns • Cyclical analysis • Speed resistance lines • Time frame concept • Retracements Charting for Profit contains 36 pages with more than 60 charts, all from recent bull and bear markets. The last chapter lets the reader apply the tools to a price chart, then shows how it could have been done. With your help and Successful Farming, the nation’s leading agricultural publication, your customers can start charting their way to more profits. And for you, that means good business. Order Charting for Profit now for your farm customers. They’re an investment worth protecting. Take advantage of the price breaks by ordering sufficient quantities for all your farm customers. Mail your order with your check to Charting for Profit, Locust at 17th, Des Moines, Iowa 50336 Please rush Charting for Profit to: Name _____________________ _________________________ Bank _____________________ __________________________ Address_________________ ____________________________ Town----------------------------------------------------- State_____ Zip _ My check for $ ------------ is enclosed fo r________copies. © Copyright Meredith Corporation, 1982. All rights https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis reserved. Printed in U.S.A. c/bu. 390 reco 40% recoiv« 350 If your farm customer missed selling his corn on last July’s rally, he needs Successful Farming’s Charting for Profit book. By applying a charting tool called price retracements, which is detailed in this book, he could have put “money in the bank.” Quantity of order 1 - 9 ........................$9.95 10 - 9 9 ........................ 5.49 100 - 249........................ 3.49 250 - 499...................... 2.95 Price per book + + + + shipping shipping shipping shipping and and and and handling handling handling handling _ ® For orders 500 and over, call 515-284-2828 for price quote Shipping Single copy add $1.00 postage and handling; 2 - 5 copies add $1.50; 6 - 10 copies add $2.00. Over 10 copies shipped C.O.D. freight. (Approximate shipping weight 28 pounds per 100 in bulk.) • <zHoCcUx a n d c^f’is.oc.Lats.i Single System Banking Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.0. Box 450 405 Main Ames, Iowa 50010 W ith D o n a l d E . H o l d e r , Principal Availability Instant Cash cards; 2. increase fre Availability of funds. . . availability of people. . . quency of use by Instant Cash cus responsive to your needs. tomers, and 3. supply more outlets, especially in off-bank locations. In Phone Dick Jung May, he added, Instant Cash ma Waterloo, Iowa 50704 M em ber FDIC at 1-800-772-2411. chines will be installed in all six Lunds grocery stores and 10 addi tional sites in shopping centers and Zimmerman. An application will be & Trust, Joplin, will speak on “Com stores in the Twin Cities, including presented to the Federal Reserve mercial Lending in an Unregulated Environment.” The morning will drive-up facilities at a number of Bank of Chicago for approval. conclude with “Lawsuits on Fore Target stores. ROCKFORD: Lee R. Mayer has closures,” discussed by a panel con MINNEAPOLIS: Northwest Ban- been elected vice president and trust sisting of Milt Wordal, Church, Har corporation has named John E. Al- officer of City National Bank & ris, Johnson & Williams, Great lerson vice president and assistant Trust Co. He most recently served Falls, and George Bennett, Hughes controller, Douglas R. Harding vice as head of the tru st department of Bennett, Kellner & Sullivan, Helena. president of loan administration and the First National Bank of Misha After lunch Dr. Sung Won Son, James B. Schmitt vice president of waka, Ind. senior vice president and chief consumer banking. economist, Northwestern National North Dakota News RICHFIELD: Richfield Bank & FARGO: David D. Gordon, presi Bank of Minneapolis, will give an Trust Co. will be presenting the se dent of The Fargo National Bank & Economic Outlook. L.W. “Obie” 01cond in a series of seminars May 19, Trust Co., has announced the pro berding, vice president & manager, at the Thunderbird Hotel in Bloom motion of Steve C. Lind to vice pres Rainier National Bank, consumer af ington. The seminar will cover two ident. Mr. Lind joined the bank in fairs group, will conclude the after related topics: “Computer Evalua 1979 in the commercial loan depart noon with Simplification of Reg Z or “ It ain’t necessarily so.” A cocktail tion and Selection - A Management ment. reception will be held at 6:00 p.m. Decision Making Process,” con ducted by Richard Krocak, of Alex Wyoming News Montana News ander Grant & Co., and “Future The Montana Bankers Associa Technology - Its effect on business,” tion has released the agenda for the SHOSHONI: Robert (Bob) Crocker featuring Robert Long, president of Commercial Lending Convention be has been named president of the Long, Inc. To register call 861-7355, ing held May 20 and 21 at the Holi First State Bank at Shoshoni. Mr. Crocker, who joined the bank in Ext. 234. Registration fee is $50. day Inn West in Billings. 1979, assumed the presidency after Registration will be from noon to being named managing officer of the Illinois News 4:00 p.m. on Thursday, the 20th bank on December 16 following the HUNTLEY: A t the organizational with a cocktail reception at 6:00 resignation of former bank president meeting of The Huntley Bancshares, p.m. Joe Barber. Inc., a one bank holding company Friday's agenda will begin at 8:00 set up for the purpose of purchasing a.m. with Robert Morris Associates THERMOPOLIS: Joe Barber has State Bank of Huntley stock, the business breakfast followed by a rejoined First National Bank as sen following officers and directors were welcome from Robert L. Reiquam, ior vice president. Mr. Barber served elected: Wayne Miller, president; MBA president and president, 1st as vice president at the bank for two Fred Ahrens, vice president; Mich Bank Miles City. Bank Pac will be years before accepting the position ael Davis, vice president; Ralph discussed by Paul Wold, assistant of president at the First State Bank Hardy, secretary; Paul Reed, trea vice president, Security Bank, Bill of Shoshoni in 1979. He left that surer; Ted Jankowski, Dean Mar ings, and Bruce Adamson, chairman post recently to explore a non-bank lowe, Jeffrey Napier, and Wayne and president, First National Bank ing career. National Bank of W aterbo Byron Thompson Hal Hollister K irk Vaughan Randy Klein George Morris Steve Panknin MEET OUR QUALITY CONTROL DEPARTMENT b UNITED MISSOURI’S BOND DEPARTM ENT Ralph Lampton Phil Youngs https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bob Chamberlain Jean Ann Nesselrode Pat Baldwin Tom Woolsey UNITED MISSOURI BANK OF KANSAS CITY, N .A . (816) 556-7200 Member FDIC 4 Estate Appraisals Purchase o f Collections Sale o f Rare Coins Reliable and respected service for over 20 years BANKING PLACEMENTS “Successful B a n k in g is Quality Personnel” STUDENT LOAN OFFICERS! Eighteen years banking experience serving as president of rural and metropolitan banks enables me to find the "right” banking position for you as a banker or the “right” officer for your bank. Plan to attend one of these seminars on the Iowa Guaranteed Student Loan and Iowa PLUS Programs: don - S choolerT AND t j i r f y ASSOCIATES 901 A. West Jackson* Ozark, Missouri 65721 417/485-6020 COMPLETELY CONFIDENTIAL “Employment Service” Used by bankers throughout the midwest Ben E . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 •May 17-18 • May 19-20 Ramada Inn, Waterloo Highlander Inn, Iowa City For Information and Registration, contact: Iowa College Aid Commission 201 Jewett Bldg. Des Moines, Iowa 50309 (515) 281-4890 SEND ME ... A 20« stamp, a check for $1.00, and your bank let terhead and I will send you a sample of the most unusual Christmas “handout” of 1982. IOWA NATIONAL BANK CURRENCY BOB TUCKER ASSOCIATES BOX 1222 PT. ARTHUR, TX 77640 “Since 1958” POSITION AVAILABLE Aggressive marketing-oriented individual needed to manage new accounts and personal loan department of $70 m illion bank in southeast Iowa county seat. Write file QBB, c/o Northwestern Banker. (PA) Experienced Installment Loan Officer—$12 m illion rural bank in north central Iowa. Excellent school d istrict 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 m illion first year. Work Iowa and/or Nebraska. Call Mark Vanderloo, 402/330-5040. (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) Immediate opening In a $12 m illion bank for a COMMER CIAL LOAN OFFICER. Experience in other lending areas helpful. Contact Managing Officer, First Security Bank, Box 730, Malta, MT 59538. Phone 406/654-2221. (PA) AGRI OFFICER— Immediate opening. Experienced agri loan officer to head dept, in $25 m illion bank. Located in resort area. Excellent benefits. Submit resume and salary requirements to First National Bank Pine City, MN 55063. _________ (PA) AG LENDERS WANTED 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) □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. WANTED FOR PERSONAL COLLECTION Also paying top prices for other “types” of U.S. currency and finan cial paper. Please C ontact: J. M ason Henry DON MARK Charles E. Walters Co., Inc. Box 1, Adel, IA 50003 • 515/270-8170 39 Ginger Woods Road, Valley, Nebraska68064 Phone: (402)553-6400 SERVING PROFESSIONALLY FINANCIAL SPECIALIST IN THE TW IN CITIES AREA Call Bruce Meyer • 612/835-4466 762j^4etro Blvd., Suite 350 • Minneapolis, MN 55435 MANAGEMENT RECRUITERS 300 Offices Nationwide The Search and Recruiting Specialists BANKERS AVAILABLE Banking, Financial & Business Personnel, jowaand Nationwide Capital Personnel Service 714U.C.B. Building,515-283-2545 Des Moines, Iowa 50309 Would you trust your money with a sloppily dressed teller? Perhaps your customers feel the same way. We can change that for only $1.00 per teller per day. 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 Ag Lenders........................................ to $25,000 CAREER APPAREL N. Main St., Carroll, la., 51401 712-792-2748 | Generalists (Operations/Lending)...........................to $36,000 Operations/Cashiers ............................... to $28,000 Installment Lenders............................................... to $25,000 POSITIONS AVAILABLE OPERATIONS/LENDING - $35MM rural bank needs opera tions officer w ith some Ag lending experience. $25,000 Ihist O fficers......................................................... to $30,000 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) COMMERCIAL LOAN - need 2 - 3 yrs. commercial lending CPA/Bank Auditor................................................................. to $28,000 experience and good business development skills. Subur ban bank. $28,000 Write or Call Malcolm Freeland, Freeland Financial Service, AGRI-LOAN • $35MM bank w ith 70% o f portfolio in Agri Inc., 246 Insurance Exchange Bldg., Des Moines, Iowa 50309. credits. Should be strong in analysis and documentation. 515/282-6462. Describe your needs, and we will assist you. $25,000 Employer pays reasonable fee. TRUST OFFICER - prefer generalist w ith 1 - 2 yrs. banking and good probate experience - #2 position in growing dept. $ 22,000 Provider of Executive Perquisites to Officers of Financial Institutions If the banking giants were to move into your town tomorrow, how would you fare? Call us to learn how to take care of you and your future...no matter who owns the bank! The Coughlin Organization William J. Coughlin F.L.M.I. 913 Midland Financial Bldg., Box 1296, Des Moines, IA 50305 Phone 515-244-0856 Iowa WATS 1-800-532-1145 SENIOR COMMERCIAL LOAN - handle m ajority o f port fo lio for $250MM urban bank. Future advancement possi ble. $45,000 JUNIOR OPERATIONS - small rural bank in nice com m uni ty. Prefer degree and some banking experience. $14,000 SECOND OFFICER - Ag-oriented $15MM bank. Handle day to day operations in owner’s absence. Community involve ment a must. $30,000 For inform ation on these and additional listings, toward resume' and salary requirements. TOM HAGAN & ASSOCIATES of Kansas City Box 12346 - 2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 11 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, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0
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