Full text of The Northwestern Banker : May 19, 1980 : Northwestern Banker Newsletter, Vol. 9, No. 4

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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Vol. 9 No. 4

Des Moines, Iowa

May 19,1980

Three Card Issuers Make Changes
An Exclusive Report from
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B anker

generally would be lower than that,
depending on the amount charged.
First National decided to go with
the 24 % rate, well above the 18 % on
first $1,000 and 12% on the balance
allowed under Nebraska’s bank
credit card law, by using the “ most
favored lender doctrine” authorized
for national banks. Since the state’s
Instalment Credit Act permits fi­
nance companies to use the 24%
rate, First National opted to raise to

HREE card issuing banks in
the upper midwest and moun­
tain states have revised their sche­
dule of charges in recent weeks, but
all other card issuers so far have
stayed with their current charges.
First National Bank of Omaha
adopted an increased interest rate
with a ceiling of 24 % , plus imposing
the interest rate on all charges start­
ing with the first day of posting.
Iowa-Des Moines National Bank,
Des Moines, added a $15 annual fee
to its cards, while continuing inter­
est rate charges used for some time.
Rocky Mountain BankCard Associ­
ation adopted a $12 annual fee plus
the continuing interest rate charges.
1.
First National of Omaha:
Effective May 19, customers will be
charged 24% on the first $500 of
charges made to their cards on and
after that date, 18 % over $500 up to
$2,500, and 16% on $2,500 balance that level since Nebraska law pre­
or more. Customers must make a cludes banks from charging an
minimum payment monthly of $20 annual fee for the card.
or 6% of the balance, whichever is
Mr. Doody said First National
higher on carryover balances, up was prepared for a wave of phone
from a minimum of $10 or 4% .
cedis, based on the experience of a
James L. Doody, vice president and similar size west coast bank which
head of First National’s BankCard increased its charges and got 25,000
division, said the monthly charge to phone calls. He said First National,
customers who pay their bill off each by contrast, received only 1,200
month with no carryover balance phone calls as of May 13 out of
would be a maximum of $1.75, and 560,000 cardholders and between

T

*5

m

500 and 600 canceled their cards,
although a few later asked to have
them reinstated.
2. Iowa-Des Moines National:
Shortly after the First National an­
nouncement, Iowa-Des Moines re­
vealed a $15 annual fee, while main­
taining the interest rates of 18 % on
the first $500 and 15% on amounts
over $500, with a 25-day grace
period, as authorized by Iowa law.
Vice President Thomas Hammelman reported little adverse reaction.
3. Rocky Mountain BankCard
Association: Denny Dumler, execu­
tive vice president, said his
company disclosed to cardholders
on May 1 a $12 annual fee. Interest
rate charges continue at 18 % on the
balance after the usual 25-day grace
period. Mr. Dumler said, “ People
have come to recognize in this period
of high money costs that banks
can’t continue offering services at a
loss. More than 50% of the dollars
running through our card system
never incur an interest charge,
which shows people know how to
manage their money. I think this
period, and our annual fee, and the
need to make decisions about card
usage, will help people act more
responsibly in handling their money
and credit cards.”
Other card issuing banks in
Omaha, Lincoln, Minneapolis, St.
Paul, Cedar Rapids and Des Moines
are continuing their interest rate
CARD CHANGES . . .

CALL ON THE “PERFORM ANCE TEA M ”
where common transactions
are handled uncomm only well.

IIH M III

1

FIRST NATIONAL LINCOLN

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C.

Independent Management Services
Specializing in Bank Acquisitions
By Independent Investors
No Broker Fees
Call 515-223-1044

Homer Jensen

—

DickBuenneke

3737 Woodland Ave.
Executive Suite 120
West Des Moines, Iowa 50265

Iowa News
BRITT: The First State Bank has
received permission from the FDIC
to move from its current location at
10 Main Ave. North to a new bank
building at 1 Main Ave. South here.
The move is scheduled for July 14.
The facility will feature an open
effect with offices located in a line
facing the main lobby.
INDEPENDENCE: Paul Squires
has been promoted from assistant
cashier to cashier of the Security
State Bank here.
K E O S A U Q U A : Farmers State
Bank has increased its amount of
common capital from $100,000 to
$500,000 by a stock dividend.
KIMBALLTON: The Landmands
National Bank here has received
consent from the regional adminis­
trator of national banks to change
the location of its main office in
Kimballton to 201 S. Division St. in
Audubon. The Kimballton site will
be retained as a facility.
MASON CITY: The American
State Bank has increased its
amount of common capital from
$250,000 to $300,000 by the sale of
new stock.

C a lla
BANKERS’
BANKER

1-800-362-1688, toll-free in Iow a

MASON CITY: Donald A. Kimmel
has joined United Home Bank &
Trust Co. as executive vice presi­
dent and will be in charge of asset
management. He was most recently
senior vice president and chief lend­
ing officer at the Northwestern
Bank of Commerce in Duluth,
Minn.
SIOUX CITY: Richard C. Taylor,
president of the First National
Bank, has announced plans for the
construction of a $5 million new
main bank facility to be located on
the present site at 5th and Pierce
Streets. The four-story structure
will occupy about 80,000 square feet
of space and completion is scheduled
for early 1982.
SIOUX CITY: Citizens Loan &
Thrift Co., an industrial loan com­
pany, is seeking to file for re-organ­
ization under the Federal Bank­
ruptcy Act, which would freeze $4.8
million in savings accounts. Thomas
Hassenger, vice president of the
family-owned firm, blamed the Fed­
eral Reserve Board and the rising
interest rates he says were caused
by the Fed, for the loan company’s
problems. “ We would have lost
everything for everyone,” he was
quoted as saying, “ if we had chased
the interest rates. The lesson here,”
he commented, “ is, don’t borrow
short and lend long.” Apparently a
sale to, or merger with, other Sioux
City institutions was attempted and
failed before the bankruptcy action
was sought. Mr. Hassenger said the
loan company has no insurance but
he feels all savers will get their
money back.

Nebraska News


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

BIG SPRINGS: Funeral services
for Carl Kjeldgaard, 89, chairman of
the Farmers State Bank here, were
held recently. Mr. Kjeldgaard and
other family members purchased
the bank in 1916 and he remained
active in the business until his

death. Among his survivors are his
wife, Vieva, and sons Franklin,
president of Farmers State, and
Wayne, vice president and cashier.
LINCOLN: An application by the
Lincoln State Bank for federal de­
posit insurance has been approved
by the FDIC. The bank’s total cap­
ital accounts are $1 million.
McCOOK: Dan Allen has joined the
McCook National Bank as assistant
operations officer. He was formerly
with Avco Financial Services in
McCook.
OM AHA: Alice M. Dittman, presi­
dent of Cornhusker Bank in Lincoln,
will be the guest speaker at the May
27 meeting of the Mid Plains Group
of the National Association of Bank
Women. Her topic is “ Say Yes to
Opportunity.” The meeting will be
held at the New Tower, 78th &
Dodge Street, with dinner at 6:15
p.m.

Minnesota News
ELGIN: The Elgin State Bank has
received consent from the commis­
sioner of banks to change its name
to the Elgin-Millville State Bank.
The bank will continue to be head­
quartered in Elgin.
EYOTA: The Farmers State Bank
of Eyota has received consent from
the commissioner of banks to
change its name to the Eastwood
State Bank. Headquarters will con­
tinue to be in Eyota.
FOREST LAKE: The Chisago
Holding Co., Chisago City, has re­
ceived approval from the Federal
Reserve Bank of Minneapolis to or­
ganize a new bank in Forest Lake,
the Tri-County National Bank.
HUGO: First State Bank of Hugo

cd~fo[dsz and cd ^ iiocia tzi
Bank Consultants
Specializing in Bank Acquisitions
P.O. Box 450

515-232-0814
405 Main Ames, Iowa 50010

D o n a l d E. H o ld e r , Principal

3

Caneton D. Beh Co.
Investment Bankers/Financial Consultants

NEW ISSUE

SALE DATE: May 15,1980
$2,000,000
DIKE COMMUNITY SCHOOL DISTRICT. IOWA

Dated: June1,1980

MOODY’S: A

General Obligation School Bonds

Denomination: $5,000
Both principal and semiannual interest (June 1 and December 1, first coupon due on December 1,1980) payable
at the Office of the School Treasurer, Dike Community School District, Iowa.
IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL
INCOME TAXES AND ALL PROPERTY TAXATION IN THE STATE OF IOWA.
MATURITIES
6.75%
6.40%
$ 35,000 J u n e l,1981
5.75
$130,000 J u n e l,1993*
35,000 June 1,1982
5.75
6.50%
45,000 J u n e l,1983
5.75
140,000 J u n e l,1994*
50,000 J u n e l,1984
5.80
6.65%
55,000 J u n e l,1985
5.80
150,000 J u n e l,1995*
60,000 J u n e l,1986
5.85
6.80%
70,000 J u n e l,1987
5.90
160,000 J u n e l,1996*
90,000 J u n e l,1988
5.95
6.90%
95,000 J u n e l,1989
6.00
170,000 J u n e l,1997*
105,000 J u n e l,1990
6.10
7.00%
6.60%
185,000 J u n e l,1998*
110,000 J u n e l,1991 * 6.20
195,000 J u n e l,1999*
6.30%
120,000 J u n e l,1992* 6.30
'Optional in inverse order beginning June 1, 1990 at 100%.

6.40
6.50
6.65
6.80
6.90
7.00
7.00

LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS
DES MOINES, IOWA
The Dike Community School District is located in Grundy and Black Hawk Counties in northeastern Iowa 10 miles west of Waterloo. The
District contains some of the very best farmland in the State of Iowa, which is evidenced by the fact that farmland price per acre in Grundy
County (8th) and Black Hawk County (12th) is among the highest in Iowa’s 99 counties. The District’s banking needs are served bv the
owa Savings Bank of Dike with deposits as of December 31,1979, exceeding $13,512,000. Transportation for the District is provided by
the Chicago & Northwestern Railway and Iowa Highway 57, as well as an excellent network of all-weather county roads. Commercial air
transportation istw enty minutes away in Waterloo. Continuing education centers within commuting distance include: the University of
Northern Iowa, Cedar Falls; Wartburg College, Waverly, and the Hawkeye Institute of Technology, Waterloo.
These bonds are being issued under the provisions of Chapter 298, Code of Iowa, 1979, as amended, and were approved by a majority of
voters of the District at a special election held November 27,1979. In the opinion of counsel, these bonds are legal and binding general
obligations of the Dike Community School District, Iowa, and all taxable property located therein is subject to the levy of sufficient taxes
to pay the principal of and interest on the bonds without lim it as to rate or amount.

FINANCIAL STATEMENT
Actual value taxable property, 1979
Assessed value taxable property, 1979
Direct debt, including this issue
Total direct, overlapping and underlying debt
Population, 1980 estimate: 2,707

$89,047,410
79,384,180

2,135,000
2,373,653
Direct debt per capita: $788.70
Total debt per capita: 876.86
Area: 64,320 acres
Direct debt per acre: 33.19
Total debt per acre: 36.90
Tax collections have approximated 101.48% of taxes levied for the past five years.
We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion:
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 was based. Offered subject to prior sale and change in price.


Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

607 Marquette Ave. • Minneapolis, Minnesota 55402 • 612-332-8825

4

CARD CHANGES . . .
(Continued from front page)
schedules they have had for some
time.
Nebraska law permits banks to
charge 18% on the first $1,000 of
balance, after the 25-day grace
period, and 12% on the carryover
balance above $1,000. Sam O’Keefe,
executive vice president at U.S.
National Bank of Omaha said, “ We
are re-examining our whole credit
card picture with the thought of
making some changes, but as yet we
have taken no definitive action.”
Omaha National likewise has con­
tinued to study the situation but has
made no changes and continues at
the allowable 18% and 12% levels
under state banking law.
First National Lincoln President
Bill Smith issued a press release
stating his bank remains at the 18 %
and 12% levels and is not contem­
plating a change at this time.
National Bank of Commerce
Senior Executive Vice President
Tom Potter stated that his bank had
been reviewing the credit card prob­
lem, since high rates of money, and
high card usage made that end of the
business costly. First of Omaha
came out with its three-tiered level
of higher interest charges at that
time, Mr. Potter said, “ and the
market shifted away from it, rates
began dropping, and the market and
legislative environment was not
conducive to a change.” His bank
remains at 18 % on the first $500 and

12% thereafter.
Merchants National Bank of
Cedar Rapids and Hawkeye Bancorporation, Des Moines, are the other
two card issuing entities in Iowa.
Both have been studying the situ­
ation, but so far have elected to con­
tinue on the present basis with the
18% and 15% rates.
First National Bank of Minne­
apolis and Northwestern National
Bank of Minneapolis both operate
under a Minnesota law that has a
twist apparently unlike any other
state. It states that a card issuing
bank may impose a $15 annual fee,
but charge no more than 12 % on a
carryover balance, or, it may offer
the card at no annual fee and charge
18% on the outstanding balance.
Customers who pay their statement
in full each month, with no carry­
over, pay no interest, of course,
under either method; with no card
fee, the customer pays nothing for
the card convenience if the. state­
ment is paid monthly.
Bob Collins at First National
Bank said a credit card account with
a $15 fee and 12% interest rate re­
quires a $250 outstanding balance at
all times just to break even. The two
banks distribute cards throughout
Minnesota, South Dakota, North
Dakota and Montana, and appar­
ently operate in the latter three
states at the straight 18% rate.
An anomaly exists in South
Dakota, which recently removed all
restrictions and adopted a straight

Promote yourself to the head
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NORTHWESTERN BANKER for:

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C ity_____________________ State__________ Zip.
306 FIFTEENTH STREET
DES MOINES, IOWA 50309


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Federal Reserve Bank of St. Louis

24% rate. Subsequently, Citicorp of
New York announced it very likely
will re-settle its national credit card
operations in Sioux Falls, after that
bill was approved by the legislature
and signed by the governor. The
new office could add more than
2,500 jobs in the state.
Based on this new law, a South
Dakota bank actually can buy the
receivables of a New York card com­
pany and using South Dakota law
impose a 24% interest rate charge
on cardholders in states where those
customers live.
One key to any change in assess­
ing an annual fee and new schedule
of charges will be the solution of a
necessary program by First Data
Resources in Omaha, recently sold
to American Express Company,
which is the processor for Omaha
National, U.S. National, First Na­
tional Lincoln and National Bank of
Commerce in Lincoln; First Bank
System and Banco in Minneapolis;
Iowa-Des Moines, Hawkeye Bancorporation and Merchants Nation­
al, all of Iowa, and other banks. The
program will have to pick up for
each customer whether a fee is paid
or if charges are on straight interest;
whether the customer is paying in­
terest from date of posting, or only
after a 25-day grace period. First
Data Resources reportedly has de­
voted thousands of man hours
already seeking a resolution to this
operational detail for the banks
involved.
D

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Here is a list of the valuable features contained in the Canon
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• Complete tape audit trail of any disclosure
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• Computes even-dollar payment loans with
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• Balloon Payment Loans (with insurance):
• Compute payment given balloon
• Compute balloon given payment

• Computes rebate on interest and insurance
premiums—actuarial on interest, rule of
78’s on premiums.

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• weekly
• quarterly
• semi-monthly
• semi-annual
• monthly
• annual

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today’s date all day, even if the unit is
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[OVER]

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

You will be pleased at the proficiency, flexibility, and accuracy the Canon SV-20
Financial System will provide your bank’s installment loan department, commer­
cial loan department, mortgage loan department, and internal audit department.
Here is a truly comprehensive, integrated loan audit and disclosure system
designed specifically for Bankers.
For a personal demonstration and names of Bankers now using this system
contact:

Tom Weaver, President
Don Leonard, Financial Systems Representative
Midwest Calculator, Inc.
1012 Grand Avenue
Des Moines, Iowa 50309
515/283-2513

*


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Tom Weaver—designer and programmer of the Canon SV-20 Financial System.

Supplement to Northwestern Banker Newsletter 5-19-80

Grow
with this

p!RP

UNITED MISSOURI BANK
OF KANSAS CITY, N .A .
10th and Grand o Kansas City, Mo.
816-556-7903
Member FDIC

has received consent from the FDIC
to establish a detached facility in
Lino Lakes.
MINNEAPOLIS: Michael A. Mancusi has been named as regional ad­
ministrator of national banks for the
Ninth National Bank Region. He
joined the OCC in 1967 and has held
various position in the Richmond,
Va., regional office since 1974.
MINNEAPOLIS: Thomas M. Hinnenthal has been named senior vice
president and manager of the loan
administration division of North­
west Bancorporation. He had been a
vice president and succeeds John
O lson who has been named
president and chief operating officer
of Banco Financial Corporation.
M INNEAPOLIS: Camden North­
western Bank has received consent
from the FDIC to open a facility at
Zane Avenue North and 85th Street
North in Brooklyn Park.

Illinois News
ILLIOPOLIS: Farmers State Bank
of Illiopolis has received consent
from the FDIC to establish a facility
at 100 Victory Drive here.

KANKAKEE: Peoples Bank Marycrest here has received consent fr&m
the FDIC to exercise limited trust
powers.
W ILM ETTE: The Wilmette Bank
has received consent from the FDIC
to open a facility at 110 Green Bay
Road in Winnetka.

South Dakota News
John W. Thomson moved up from
first vice president to president of
the South Dakota Bankers Associ­
ation at the group’ s 88th annual
convention May 11-13 at the Rushmore Plaza Civic Center in Rapid
City.
Mr. Thomson, president of the
Bank of Centerville, succeeds G. H.
Waltner, president of the First Na­
tional Bank in Freeman.
Advanced from second vice presi­
dent to first vice president of the
SDBAwas Nels E. Tumquist, pres­
ident of the National Bank of South
Dakota in Sioux Falls.
Dean D. Mehlhaff, president of
the Eureka State Bank, was elected
as SD B A’s new second vice presi­
dent.
Complete convention coverage
will be featured in the June maga­
zine.
HURON: L. L. Steele, who retired
last November as president of
Farmers and Merchants Bank, died
recently. He was a director of the
bank at the time of his death. Sur­
vivors include his son, Jack, who is
an officer of the bank.
SIOUX FALLS: Hurley C. Wilson
has joined United National Bank
and will serve as president for the
21-branch bank system. He was
formerly senior vice president of the
First National Bank of the Black
Hills, Rapid City. Mr. Wilson suc­
ceeds Merritt J. Gates who has been
promoted to vice chairman of the
board. Stephen Adams continues as
chairman.

Single System
Banking
Now
National Bank o f Waterloo

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

Merchants
^
National Bank 151
Member F.D.I.C.

A 'BANKS OF IOWA’ BANK

Wyoming News
GILLETTE: An application by Se­
curity Bank of Gillette for federal
deposit insurance has been approv­
ed by the FDIC. The bank’s total
capital accounts are $1,250,000.

Colorado News
DENVER: United Banks of Colora­
do, Inc. has signed an agreement to
acquire the Bank of Durango and
the Bank of Ignacio. The two south­
western Colorado banks have total
assets of more than $48 million.
Final acquisition is subject to Fed­
eral Reserve Board approval.
GRAND JUNCTION: Richard J.
Witsken has been elected senior vice
president in the commercial loan de­
partment of the Bank of Orchard
Mesa. He was formerly manager of
the Federal Land Bank Association
in Grand Junction.
BANKERS PARTICIPATING

I

/


Waterloo, Iowa 50704 Member FDIC
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

ASK
JOHN MANGOLD

Phone Milt Hennick
at 1-800-772-2411.

Lease Plan, Inc.

545 - 31st Street

Des Moines, Iowa 50312

R. L. “ DICK” SELLON • P.D. “ DUANE” DEVAULT

6

PARTIAL LIST OF
AVAILABLE POSITIONS

W ANT ADS

CASHIER— Four to six years operational experience
needed. Excellent location, good opportunity.
$ 21,000

Rates 50 cents per word per insertion.
Ad $2 for file numbers. Identity of file
number advertisers cannot be revealed.
Payment in advance, please.
NORTHWESTERN BANKER
306-15th St., Des Moines, Iowa 50309

#2— Generalist needed for new charts. Want an
aggressive go-getter. $27,000
O FFICER— Will have total and complete responsibil­
ity for industrial bank. All types of lending. $18,000
TRUST OFFICER— Experience needed. Will event­
ually take full responsibility for department. $21,000

FOR SALE
Complete mini-bank, 10 years old, with safe,
alarm system, carpeting and air conditioning.
Must be moved.
Phone Jim McDonough at (319) 382-3126 or (319)
583-2806.

Addressograph equipment. Send information to Box
607, Boone, IA 50036._______________________ (WTB)
Interested in purchasing used safety deposit boxes.
W rite file KBG, c /o Northwestern Banker._____ (WTB)

POSITION W ANTED

PLAZA 20, INC.
2600 Dodge Street
Dubuque, IA 52001

FOR SALE
NCR 20-pocket proof machine with seven tapes plus
master. Always under service. Contact Colleen Anderson at (218)695-2802.__________________________ (FS)
Two (2) rotary power check files. One 6600 W hite purchased new; one Diebold reconditioned in 1976. Have
been using both to date. $500 each FOB, York, Neb.
Contact Dale L. Adams at (402)362-7411.________ (FS)
NCR 152-70 teller machines, completely recondition­
ed. Guaranteed; 15 days free trial. Freight paid— $695
each. Call (214)757-7760.______________________ (FS)
Burroughs TT-102 electronic on-line teller machines;
1-3 years old. $1850 each (original cost $3400). Call
(214)757-7760.________________________________ (FS)
BurroughsTR-102 electronic teller machines, upgrad­
able to on-line. Guaranteed; 2-3 years old. Freight
paid— $995 each (original cost $2100). Call (214)
757-7760.____________________________________ (FS)
Microfilmer-Recordak Reliant 600K; automatic feed,
endorser, with stand. $995. Call (214)757-7760.
(FS)
NCR152-38 teller machines. Guaranteed. Freight paid
— $395 each. Call (214)757-7760.________________(FS)
NCR 775 proof machines, 4-12 pockets; two years old.
Maintenance will transfer. $8900-$11,900. Available
Immediately. Call (214)757-7760._______________ (FS)
Brandt Coin Changers. $145 each. Call (214)
757-7760.____________________________________ (FS)
Six (6) NCR full-keyboard adders. $175 each. Call
(214)757-7760.________________________________ (FS)
NCR 490 desk-top check encoders in excellent con­
dition. Guaranteed. Freight paid— $895 each. Call
(214)757-7760.__________________________
(FS)

Bankers

Service
LOAN
ACTIVITY
BULLETIN

Who:

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

fast service

Presently CEO of a medi urn-size bank, I am seeking
controlling interest in a bank with assets from $5
million to $25 million. W ill permanently relocate in
new community. Write file KBJ, c /o Northwestern
Banker._____________________________________ (PW)

VP— Commercial lending. Must have strong lending
and supervisory experience. $28,000
OPERATIONS— Ag bank in Minnesota. Oversee all
operations. EDP experience a plus. $15,000
ALL FEES PAID BY M ANAGEMENT
FOR FURTHER INFORMATION
RESPOND IN CONFIDENCE TO:

CEO of small bank desires same position in mediumsize bank. In late 30’s with 19 years experience in ail
facets of banking. Resume and references available
upon request. Write file KBK, c /o Northwestern
Banker._____________________________________ (PW)

POSITION AVA ILABLE
If you are seeking a qualified officer for your bank, call
Malcolm Freeland, president, Freeland Financial
Service, Inc. at (515) 244-8163. Experienced people are
available from $20,000 to $40,000. Employer pays
service fee.__________________________________ (PA)

INSURANCE AGENCY MANAGER— Person with in­
surance agency manager experience, or experienced
and fully licensed agent, as manager for agency in
west central Minnesota. Long established agency
with potential for sound growth located in county seat
town, good trade center. Good starting salary and
fringe benefits with incentive program. Reply to file
KBF, c /o Northwestern Banker._______________ (PA)
BANK CONTROLLER WANTED: Controller for $60
m illion central Iowa bank with one-bank holding com­
pany and other operating entities. Prefer CPA with one
to five years experience. Salary open depending upon
experience and qualifications. Send resume to
K .M .M .,B o x 65 1 3 3, West Des Moines, IA50265. (PA)
Junior Officers, with one to three years banking exper­
ience, wanted by community banks in uppér midwest.
Employer pays fee. Send resume in confidence to
Malcolm Freeland, Freeland Financial'Service, 306
Fifteenth Street, Des Moines, IA 50309. Phone (515)
244-8163.____________________________________ (PA)
Installment Loan Officer to head department. Strong
managerial opportunity. Call Brenton Bank, Cedar
Rapids, (319)364-9135.________________________ (PA)
Second Officer Position available in excellent eastern
Iowa community with small, rapidly growing bank.
Salary negotiable. W rite file KBI, c /o Northwestern
Banker.______________________________________ (PA)
T rust Officer— Experience necessary; law background
desirable but not essential. Individual must be willing
and able to handle other bank responsibilities. Write
fileK B H , c /o Northwestern Banker.____________ (PA)

HEAD OF AUDIT DEPARTMENT— Eight-bank holding
company in Montana. Major bank, $250 million assets.
Salary open; excellent fringe benefits. Qualifications:
CPA, minimum three years experience. Send resume
to Thomas R. Cover, Security Bank, N .A ., P.O. Box
30918, Billings, M T 59116._____________________ (PA)

AG BANKING CAREERS
AG LENDING O F FIC E R . . .S E M in n .

. . . $16-18,000

AG LOAN REP. . . O h i o ................................ $25-30,000
C O M M E R C IA L. . . Iowa .............................. $20-25,000
LOAN O FFIC E R . . .Io w a

............................ $15-20,000

LOAN O F F IC E R . . . W. Iowa

................... $15-18,000

CREDIT SUPERVISOR. . . O h i o ................. $17-21,000
Since 1968, banks and other ag-related employers
have been paying us to find the personnel they need.

NES STATION 50309

AG OFFICER— Two years experience needed. Be#1 in
department. Must be able to work with little super­
vision. $22,000

SPECIAL SERVICES
Confidential and professional services for sales,
acquisitions and financing of banks and bank holding
companies. We are experienced in all aspects of bank
ownership including mergers, acquisitions, bank
holding companies and negotiations with the regulat­
ory agencies. Larry L. Ticknor & Associates, 301 S.
Garfield, Suite 4, Sioux Falls, S.D. 57104. Phone area
code (605) 338-1241.__________________________ (SS)

POSITIONS AVAILABLE
SENIOR OPERATIONS— $125MM bank in
medium-size community; 5-10 years
solid bank operations background
necessary.................................................... $30,000
C O M M E R C IA L LO AN — Suburban $ 30M M
bank. Desire commercial loan and real
estate lending experience........................$28,000
CONTROLLER— Position available in $25MM
rural bank. W ill consider 1-2 years gen­
eral bank experience and accounting
degree.......................................................... $16,000

C HIEF FINANCIAL OFFICER— $250 MM sav­
ings and loan association needs senior
officer. Ideal candidate will have degree
in finance, 5-10 years experience and be
an effective communicator.....................

45K

JUNIOR OFFICER— Excellent opportunity to
advance to second position in this rural
Iowa bank. Operations experience de­
sired........................................................... $16,000

a CjHCAREERS, INC

TOM HAGAN & ASSOCIATES
OF KANSAS CITY

AGRICULTURAL PERSONNEL RECRUITERS

V-W

OPER A TIO NS/LEN DING— Suburban bank in
good growth area seeks officer with 2-3
years general banking. Primary duties
include cashier function with secondary
responsibility for consumer loan. . . . $20,000

Opportunities available throughout the midwest for
experienced junior and senior officers. Resume and
salary history requested.

m J

A,-'

CASHIER— Small rural bank located near
college community. Prefer farm back­
ground and insurance licenses.............$18,000

For more information, give Linda (our banking spec­
ialist) a call today.

(515)394-3145______________ New Hampton, IA 50659

T

P.O. Box 12346 / 2024 Swift
North Kansas City, Missouri 64116
_______________Phone (816) 474-6874______________

Vol. 9 No. 4 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth
Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 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.
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