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on futures
1RS attacks
of H .C .’s
“Take a bite
out of crime”

• Colorado
• North Dakota
• South Dakota
Federal Reserve Bank of St. Louis

Brenton Banks Mark 100th Anniversary

MNB Senior Vice President
on “The importance
of creative
thinking in


« • ‘'

Æ ' Î V!•• . ,

"The challenge of developing more ef­
ficient methods in correspondent
banking is greater than ever. That's
why at Merchants National Bank, we
encourage our correspondent bankers
to develop new and better ways of
handling Overlines and Liquidity
Loans. That's w hy we offer tim e­
saving services like the 24-Hour
Transit Service and more efficient ap­
proaches to Federal Funds Purchase
and Sales and Bond Purchasing and
"At MNB, we expect originality
and we encourage innovation. In cor­


respondent banking, as in any
dynamic business, creative thinking
blends vision w ith experience for a
better product. And by aggressively
seeking new perspectives, we believe
we'll find the best ways to serve our
respondent banks and their
Talk to one of MNB's creative corre­
spondent bankers, soon. Call John E.
Mangold, Terry M. Martin, Stan R.
Farmer, Jerry N. Trudo, or Dale C.
Froehlich. Just dial (319) 398-4313 or
call, toll free, 1-800-332-5991.

Merchants National Bank i:i


Member F.D.I.C.
Federal Reserve Bank of St. Louis



From Manufacturers Hanover comes a package of
securities services so broad that we call it GeoPac?m
With GeoPac, you get everything you need fo r
complete asset control in one coordinated package from
one unsurpassed source.
Geo Pac Safekeeping. For the quick response that’s
essential when processing securities in America s #1 money
center. The springboard, too. fo r other MHTservices.
Geo Pac Depository Processing. The most advanced
way to hold, deliver, receive and pledge securities-via the
book-entry systems of both the Depository Trust
Company and the Federal Reserve Bank.
Geo Pac Information Exchange. Direct, on-line
communications between your offices and MHT in
Federal Reserve Bank of St. Louis

New York keep you informed of trade status. It begins
with more timely, less costly Direct Input of Instructions.
Geo Pac Securities Lending. With MHT as match­
maker, sophisticated investors can earn extra income
by lending securities to eager borrowers.
For full details, ask fo r our new GeoPac brochures.
Contact your MHT representative or Brian V. Carty,
Vice President, at (212) 350-6604.
And bring a dazzling display of synchronization to all
your securities-servicing needs.

America’s premier correspondent bank
National Division, 350 Park Avenue. New York, N.Y. 10022


Northwestern Banker, May, 1981



MAY 1981 • 88th Year • No. 1412

tv >


One of Iow a’s o ld e st banking fa m ilie s is observing its 100th anniversary in the
banking bu sin ess th is year. The fro n t cover pictu re show s the three Brenton
brothers w ho are the p rin cip a l executive o ffic e rs of Brenton Banks, Inc., Des
M oines. S tanding at rig h t is W illia m H. B renton, chairm an. Seated is C. Robert,
president, and sta n d in g le ft is J.C . B renton, executive vice president and
treasurer. Brenton Banks was organized as a h o ld in g com pany in 1948 and now
h a s 1 7 banks w ith to ta l assets exceeding $700 m illio n . A story a bout the firm is on
page 86.




Banks, S&Ls lock horns with MMFs

D epository in s titu tio n s seek to o ffe r co m p e titiv e in stru m e n ts


IBAA elects W .C. Bennett president

C onvention report and p ictu res from Las Vegas— M alcolm Freeland


Fed announces check fee schedule

Charges fo r tra n sa ctio n s at m id w est Fed banks are liste d



T3 W

Hold your own in the ’80s

co “to

Report on United Bank of Denver conference


E °





AM BI Meets in C hicago
S outh Dakota M eets in S ioux F alls
You W ill See Them at the S outh Dakota C onvention
N orth Dakota Bankers Meet in Fargo
You W ill See Them at the N orth Dakota C onvention
N orth Dakota P reside nt’s Special Report
N orth Dakota Executive D irector R eports
C olorado Bankers Meet at The B roadm oor
You W ill See Them at the C olorado C onvention

C alendar
Bank P rom o tion s
C orporate News
Illin o is
M innesota
Tw in C ities






M ontana
W yom in g
L inco ln
Des M oines


in to
q _ ra

O ~Z
. o


This issue contains additional pages numbered 10a, 10b, 10c, 10d.

30615th Street, Des Moines, Iowa50309

Phone (515) 244-8163


E d ito r

B usiness Manager

A ssociate E ditor

Malcolm K. Freeland

Ben Haller, Jr.

Mike Freeland

Louise Ritchhart

A u d ito r

Field R epresentative

Field R epresentative

Debbie Hibbert

Glen Hicks

Paul Masters

No. 1412 Northwestern Banker (USPS 397-620) is published monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des
Moines, Iowa 50309. Subscription $1.50 per copy. $15 per year. Second class postage paid at Des Moines and at additional mailing o ffic^
Address all mail (subscriptions, manuscripts, mail items) and POSTMASTER: send form 3579 to 306 Fifteenth Street, Des Moines, Iow r

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis


W ould the real
Portfolio Advisor
please stand up?

Is that portfolio advisor selling advice? Or
bonds for your portfolio? Some banks send out
people who keep you guessing.
At Continental we don’t believe in guessing
games. We offer our correspondents a portfolio
advisor who really is an advisor.
This consultant has no axe to grind. Because
he’s not paid on the basis of bond commissions.
He’s paid, by you, for totally objective advice. And
he’s got the freedom to give it.
W hat does this portfolio professional do? Well,
he or she will take a long hard look at your unique

situation. Your assets. Your liabilities. Your tax
management. And then he’ll help you develop
strategies that maximize your bottom line.
It’s like hiring a part-time employee with full­
time money center experience. Of course, he’ll
analyze opportunities with you. And make recom­
mendations. But you make the final decisions.
If you w ant free portfolio advice, wait for the
salesmen to call on you. If you’re interested in
sound advice, call John Tingleff at (312) 828-2191.
He’ll put you in touch with a portfolio advisor
who lives up to the name.

Continental Illinois National Bank and Trust Company of Chicago
231 South LaSalle Street, Chicago, Illinois 60693
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Comptroller Sets New Fees

federal agency.
• $500 to change the location of®
EW regulations establishing fees
• $13,000 to organize a national head office or domestic branch.
for exam ination of national bank bank —$6,500 for initial filing and
• $500 to relocate a federal branch
tru st activities and fees for proces­ $6,500 for processing after prelim i­ or federal agency of a foreign bank.
sing various types of corporate nary approval.
• $500 to change a corporate t i t l ^
applications have been announced by
• $6,500 for corporate reorganiza­
• $150 to establish a do m est*
the Comptroller of the Currency, tion through interim national bank. operating subsidiary.
John G. Heimann. The announced
• $2,500 to convert a state charter
Opens Canada Office
fees cover the actual costs of the to a national charter.
services provided.
• $900 to establish domestic
F irst Chicago Investm ents Canada
branches and seasonal agencies.
Limited, Toronto, has opened an
T rust Fees
• $150 to acquire domestic operat­ office in Calgary, A lberta.
Billing at the rate of $32.44 per
The office becomes the second in
hour began May 1, 1981. No billing ing subsidiaries.
for FCICL, a subsidiary of
for tru s t examiners during their
were no charges now will be:
The F irst N ational Bank of C h ic a g o
initial six-m onth training period.
• $2,500 for initial filing to convert I t will be m anaged by J . Douglas
Corporate Fees
a branch or agency operated by a H am ilton, a vice president of the
Fees for applications:
foreign bank into a federal branch or bank.
• $500 for a CBCT.


Convention Calendar
A B A — A m erican Bankers A sso cia tio n
A IB — Am erican In s titu te of Banking
BAI — Bank A d m in is tra tio n In s titu te
B M A — Bank M arketing A sso cia tio n
IB A A — Independent Bankers A sso cia tio n
of A m erica
N A B W — N ational A sso cia tio n of Bank
W om en, Inc.
RMA — Robert M orris A ssociates

National Conventions & Schools
May 18-20— BAI 4th A nnual Bank Tax
C onference, H yatt R e ge ncy/C row n Cen­
ter, Kansas C ity, Mo.
May 20-22— A sso cia tio n of Bank H o ld in g
C om panies,
M eeting,
W a ld o rf A sto ria , New York, N.Y.
May 23-28— ABA N ational A IB Le ade rsC o nference, Crown C e n te r/H y a tt Regency,
Kansas C ity, Mo.
May 31-June 3— ABA N ational M arketing
C onference, F airm o nt H otel, Denver,
C olo.
June 7-19— A BA S ton ier Grad. School of
B kng ., Rutgers U niv., New B run sw ick,
N .J.
June 8-9— RMA
A d m in is tra tio n , B osto n.
June 14-16— Nevada Bankers A sso cia tio n
62nd annual con ven tion , O rm sbv House,
Carson C ity, Nev.
Ju ly 12-17— A BA N atl. Adv. Ag Bkng.
S chool, la. State U niv., Am es, la.
Ju ly 25-Aug. 7— BAI School fo r Bank
A d m in is tra tio n , U niversity of W isco n sin ,
M adison, W ise.
Aug. 9-14— Central States C onference,
G raduate School of Banking P ost­
graduate Course, Univ. of W is e .-M a d i­
son, M adison, W ise.
Aug. 9-14— ABA Bank Personnel Graduate
S chool, Univ. of C o lo ., B oulder, Colo.
Aug. 9-15— A BA B usiness of Banking
S cho ol, Univ. of C o lo., B oulder, C olo.
Aug. 9-22— Central States C onference,
G raduate S chool of B anking, Univ. of
W ise .-M a d iso n , M adison, W ise.
Aug. 20-23— IBAA s e m in a r/w o rk s h o p on
bank ow ne rship , The B roadm oor, C olo.
S pring s, Colo.

Digitized Northwestern
for FRASER Banker, May, 1981
Federal Reserve Bank of St. Louis

Aug. 30-Sept. 11— A BA N atl. In sta llm e n t
C redit School, Univ. of O kla., N orm an,
O kla.
Sept. 13-16— ABA N ational Personnel
C onference, Loews A na tole , Dallas, Tex.
Sept. 13-16— BM A 66th A nnual Conven­
tio n , W a sh in g to n , D.C.
Sept. 27-30— N ational A sso cia tio n o f Bank
W o m en’s annual con ven tion , H yatt Re­
gency, C hicago.
O ct. 3-7— ABA A nnual C o nvention, San
F rancisco, Cal.
O ct. 18-20— A BA Intern ation al Banking
C onference, Grand H yatt, N .Y ., N.Y.
O ct. 18-21— BM A C om m ercial M arketing
C onference, B osto n, Mass.
O ct. 18-22— IBAA 22nd Bank Executive
Developm ent Sem inar, Ball State U niv.,
M uncie, Ind.
O ct. 25-31— A BA N ational C o m plian ce

State Conventions & Schools
J u n e 3 -6 — CBA A nnual C onvention, Broad­
m oor H o te l, C olorado S pring s, Col.
May 4-6— Independent C o m m u n ity Banks
in III. A nnual C o nvention, H o lid ay Inn
East, S p rin g fie ld , III.
May 13-15— AM BI annual m eeting, Mar­
rio tt, L in co ln sh ire , III.
May 25-June 6 — IBA Illin o is Bankers
S chool, Southern Illin o is Univ., Carbondale, III.
June 7-13— IBA
A g ric u ltu ra l
S chool, Illin o is State U n iversity, N orm al,
June 10-13— IBA Advanced A g ric u ltu ra l
Lending C lin ic , Illin o is State Univ.,
N orm al, III.
June 14-16— IBA A nnual C onvention,
C hicago M a rrio tt H otel, C hicago.
June 21-27— IBA C om m ercial Lending
School, U n iversity of Illin o is , Urbana, III.
16-17— IBA
A g ric u ltu ra l
C redit
C onference, Ramada Inn, C ham paign, III.
S chool, Univ. of O kla., N orm an, Okla.
O ct. 28-30— BM A M arketing in a C o m m u n i­
ty Bank Sem inar, Dallas, Tex.

Nov. 8-11— BAI 57th N ational C o n v e n tio n
Sheraton W a ikiki, H o n o lu lu , H aw aii.
Nov. 8-11— IBAA S e m in a r/W o rksh o p on
Bank O w nership, H yatt Regency, A tla n ­
ta, Ga.
Nov. 8-11— A BA N ational A g ricu ltu ra l
Bankers C onference, Sheraton W a s h in g ^
to n , W a sh in g to n , D.C.
Nov. 15-18— ABA N ational C orrespondent
B anking C onference, H yatt Regency
Kansas C ity, Kansas C ity, Mo.
March 14-18, 1982— IBAA 52nd annual
con ven tion , Sheraton W a ikiki H o t e ^
H o n o lu lu , H aw aii.
May 7— S ou thw e st Iowa G roup of NABW
Iowa con ven tion banquet, B reckenridge
W estm ark Inn, W est Des M oines.
July 16-18— Iowa Independent Bankers
10th A nnual C onvention, Lake O kob oji.
Sept. 20-22— 95th annual IBA con ven tion ,
Des M oines.
June 15-16— M BA A nnual C o nve ntio™
Radison S outh, B lo o m in g to n , M inn.
June 21-26— MBA M inn. S chool of Bkng.,
St. O laf C ollege, N o rth fie ld , M inn.
Ju ly 26-31— MBA M idw est Bkng. Inst.,
Univ. of M in n ., M orris.
Aug. 13-16— Independent Bankers of M lnPr
annual con ven tion , A rrow w oo d Resort,
A lexandria, M inn.
June 24-26— MBA A nnual C o nvention, Big
Sky of M ontana, Big Sky, M ont.
May 7-9— NBA A nnual Con vent ion, L in co ln .
Ju ly 12-17— The S chools of B kng ., Trust
S chool, Nebraska Center fo r C o n tin u in g
E du catio n, L in co ln .
North Dakota:
May 17-19— NDBA 96th A nnual C onven­
tio n , H o lid ay Inn, Fargo, N.D.
16-18— Independent
C o m m u n ity
Banks of N orth Dakota annual conven­
tio n , H o lid ay Inn, D ickinso n.
South Dakota:
May 11-12— SDBA A nnual C onvention,
D ow ntow n H o lid ay Inn, S ioux F alls, S.D.
June 10-12— W BA A nnual C o n v e n tio n
Jackson Lake Lodge, M oran, W yo.





No one needs component drop out, especially in the middle of an
important transaction.
So Brandt Inc. “ bums in” the electronic components that go into our
new coin and currency systems using actual circuitry to test for drop out
before products leave the plant.
Today, a typical Brandt product undergoes 86 tests before it ’s shipped.
And, new products go through a “ quality audit” . That means we take a
product apart, measure it from top to bottom, magnify key components,
check parts against prints, and generally create havoc. If a part doesn’t
measure up to standards, it ’s rejected. Period.
All this means that you can buy Brandt equipment today with the same
confidence you could over the past 90 years.
Because if a product doesn’t shape up, we won’t ship it out.
Brandt products are tested up to 86 different ways before
they leave the plant.

B ra n d t
Brandt, Inc. W atertown, Wl 53094

everyone counts on us
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981



Bank Prom otions

ROMOTIONS and other a n ­
nouncements have been made by
the following banks:
Commerce Bank, Kansas City:
Promotions have been announced for
five officers: George W. Porter to vice
president; Phyllis I. Brown to senior
tru s t officer, and David L. Farley,
Gregory E. Gille and W inona L.
Sturgeon to assistan t vice presidents.
Mr. Porter joined the bank in 1973,
has served in the national division
since 1978 and now serves in the agri­
business departm ent.
M r. Farley, w ith the bank since
1971, is in the instalm ent loan
division. Mr. Gille joined the
m anagem ent trainee program in 1976
and is now assigned to the
M issouri/K ansas commercial dep art­
m ent. Ms. Sturgeon started with
F irst National in 1951, joined the
personnel departm ent in 1960 and
continues in th a t departm ent.
Ms. Brown has a law degree from
the U niversity of M issouri a t K ansas
City (1972) and is in the corporate



For Installment Loans



• A u to m a te d
• M anual

___ J

call or write:

[ " G.D. V A N
1678 Northwestern Bank Bldg.
Minneapolis, MN 55402
(612) 333-2261


program s. He will report to Chairman
Barry F. Sullivan.
Before joining F irst Chicago Mr.
Hollis was a vice president and group
executive of Chase M anhattan Bank
tru s t departm ent of the tru st and general m anager and chief
operating officer of Interactive D a #
David G. Hendrix has joined Corporation, a Chase subsidiary.
Commerce Bank as vice president David J. Varnerin and Paul A.
and m anager of m arketing in the G argula have been appointed account
tru st departm ent. Ralph E. Day, J r., m anagers serving Iow a’s banks and
has joined the real estate division of bank holding companies.
the tru st departm ent as a senior tru st
banking officer, has been with F irst
Chicago for seven years, with
Continental Bank, Chicago: W es­ commercial lending experiencegained
ton R. Christopherson, 55, chairm an from working
in the
and chief executive of Jewel electronics and high technology
Companies, Inc., was elected last lending groups. Before joining F irst
m onth to the boards of the Chicago he earned his MBA degree
Continental Bank and its holding from Columbia College.
company, Continental Illinois Cor­
poration. He succeeds Michael
Tenenbaum , former president of
Inland Steel Company, who did not
stand for reelection in accordance
with the board’s retirem ent policy.
A num ber of promotions also were
announced for several departm ents at
Continental Bank, as follows:
Operations and m anagem ent ser­
vices departm ent—Katherine M.
Lorenz and Michael W. O ’Connor to
departm ent controllers; John E.
Cieslinski, John S. Helling, Ja n e t S.
Mr. Gargula, a commercial b ank­
McDermed and Serge J . U ccetta to ing representative, joined the bank i^
vice presidents; Michael A. Chiarito, 1979 after graduation from Notre
Lawrence Jenkins and Donald G. Dame U niversity with a finance
Söderström to second vice presidents. m ajor BA in business adm inistration.
Financial services departm ent — He has completed several training
Gwen B. Ju n g to vice president in the assignm ents throughout the b a n k .^
U .S. cash m anagem ent division;
First National Bank of Kansas
David A. Deacon to second vice
Two officer promotions and the
president, corporate finance; Frank
J . Kobes and Donald R. Oscarson to election of two new officers were
banking officers in the U .S. cash announced recently. R uth Nichols
Bulyar and Paul G. W ard have b e ^ l
m anagem ent division.
to assistan t vice presi­
Bond and treasury services —
Benjamin H. Cohen and Lemuel dents . Shirley J . Davis and Sheryl M .
Seabrook III
to second vice W hite have been elected personal
presidents; Chris D. Maxwell to bond banking officers.
M rs. Bulyar joined the bank m
services — 1964 and is an instalm ent loan officer
Richard G. Shapiro to second vice at the Loma V ista branch.
Mr. W ard has been a staff member
since 1977. He is a correspondent
First National Bank of Chicago: bank officer calling on banks iw
Donald R. Hollis, 45, joined the bank Kansas.
M rs. Davis is a 13-year veteran
last m onth as a senior vice president
and head of the System s and with First National, joined the Loma
M anagem ent Inform ation Services Vista staff when th a t branch opened
departm ent, which was created in the in 1975 and has been assistairc
recent reorganization a t F irst N ation­ m anager there since 1976.
al. He will be responsible for
M rs. W hite has been a staff
assessing corporate requirem ents in member since 1978 and now has been
term s of data processing technology named assistan t m anager of the b a r^
and then im plem enting needed card center.

_______— J

 Banker, May, 1981
Federal Reserve Bank of St. Louis


How do you rescue
your funds from
costly float?
Let First Chicago chart a new course
for you.
Take cash letters. Banks all over the U.S.
are discovering that direct sends through
First Chicago can provide faster availability
for items the Fed— and other correspon­
dents— would float for one or two days,
sometimes more. And the extra income
these funds can produce far outweighs the
small fee we charge.
First Chicago’s coverage is among the
most comprehensive in the country, our
availability schedule one of the best offered
by any bank.
And we can provide a daily endpoint
analysis of your cash letter to show you
which items we can clear faster than the
Fed or your current correspondent.
Coupon collection is another way First
Chicago can help you turn float into good
funds. We can provide same day credit on
cash items. And we can beat most every­
body on availability, including the Fed.
We have more. For the whole story on
First Chicago’s float reduction programs,
call your relationship manager in Chicago or
our regional office near you. Or phone John
Ballantine, Vice President, at (312) 732-4100.
Today. Before another dollar drifts away.

The First National Bank of Chicago
C hicago: Jo h n B allan tin e, 312/732-4100 • Atlanta: W. Jack W inter Jr., 404/898-8050 • Baltim ore: R obert E. P robasco, 301/547-8700
Boston: R o b ert G . B arrett, 617/247-4040 • C leveland: E arle C. P e te rso n , 216/781-0900 • D allas: Jam es A. E dw ards, 214/742-2151
H ouston: G ra n t R. E ssex , 713/658-1100 • L os A ngeles: T h o m a s E. F lo w ers, 213/628-0234 • N ew York: D o n a ld G lic k m a n , 212/751-3910
San Francisco: J. R an d S parling, 415/788-4311
© 1981 T h e F irst N a tio n a l B ank of C hicago. M em ber F .D .I.C .
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981

F irst N ational B ank in St. Louis:
A lbert W. L auth has joined the bank
as vice president,
dep art­
m ent, and m ana­
ger of the portfo­
lio division. His
15-year career in
the financial m ar­
ket includes posi­
tions with Merrill
Lynch, Edward
Blyth Eastm an
Dillon. M ost recently he was bond
departm ent m anager a t American
National Bank in Chicago.
F irst National B ank of Arizona,
Phoenix: Robert L. Mueller has
joined the bank
as a senior vice
m anager of the
tru s t
d epart­
m ent, according
to Edw ard M.
dent and chief
executive officer.
He will direct
the investm ent
activities of the tru s t division, which
currently has m anaged assets in

excess of $1 billion. Before joining
The F irst, Mr. Mueller served as
special counsel to the Asian
Development Bank in M anila,
M anufacturers H anover Corpora­
tion, New York: Form ation of a
venture capital subsidiary, M anu­
H an­
Capital Corpora­
tion, will expand
the financing ser­
vices of the n a ­
tion’s fourth largestbank holding
company, accor­
ding to John R.
Torell III, vice
chairm an.
said the aim of the new company is to
move MHC “ further tow ards the
‘one-stop’ financing goal th a t we
have pursued since 1970.”
Thomas J . Sandleitner is president
of the new subsidiary. He joined the
bank in 1965, serving in a variety of
officer posts before being appointed
officer-in-charge of the b an k ’s 34th
Street corporate banking c e n te r.
N orthern T rust Company, Chica­
go: Directors have announced the
following promotions:
Thom as L. M ailman and Jo n ath an
A. Veeder to vice president in the
tru s t departm ent.


P.O. Box 52978
New O rleans, LA 70152

 Banker, May, 1981
Federal Reserve Bank of St. Louis


Nancy J . Lanham to second vice
president in the commercial banking
departm ent.
Joanne S. Cashmore and William
J . Schm idt to second vice presidents
in the personal banking departm ent.
Lois R. Riley to second vice
president in the tru s t departm ent.
New appointm ents from outside
the bank, all to serve in the tru st
departm ent, are Ronald G. Ognar,
vice president; Allen J . Hinkelm an,
second vice president, and Gerald T.
M azurczak to tru s t officer.
N ational Boulevard Bank of
Chicago: Directors have elected

Breck M. Swanquist as assistan t
ding to an a n ­
nouncement by
Henry K. G ard­
Mr. Sw anquist
joined the b ank’s
division. A grad ­
uate of W heaton
College w ith a B.A . degree
economics, Mr. Sw anquist als
attended one year a t John MarshaL
Law School and currently is pursuing
a M asters degree in m anagemeU
from Aurora College G raduatt
Center. Prior to joining N ationa
Boulevard, he was an officer in th*
commercial loan division of Aurora
National Bank.
United M issouri B ank of Kansai
City, N .A .: Six senior officers havi
been prom oted to
E.L .
who joined the
bank in 1965,
bank division of
the business de­
partm ent. He is a
graduate of N orthw est M issour
State U niversity in Mary ville and tht
G raduate School of Banking at th<
U niversity of W isconsin.
H .R . Hollister is in charge ^1
portfolio sales and service in th<
investm ent departm ent. He is a 195Í
graduate of Stanford U niversity am
joined the bank in 1953.
Keith O’Rourke oversees
exempt securities trading
underw riting in the investm en
departm ent. He originally servec
with United M issouri from 1946 t<
1958, then returned in 1972.
Paul L. Skahan, who has a lav
degree from the U niversity o
Missouri at K ansas City, joined th
bank in 1964 and is in charge of thi
employe benefit division of the triff
departm ent.
William M. Teiwes also i
comptroller. He started with th
bank in 1964 after receiving a deg re
in economics from the U niversityrT3
M issouri at K ansas City.
Alan B. Collins heads th
Bankcard division, which he ha
m anaged since 1973. He joined t l ^
departm ent in 1968.


Does your correspondent banker
handle each loan request

Ours do —
start to finish.
How many times have you heard this?
"Sorry, I’ll have to refer you to our
loan committee. Nothing personal,
mind you.”
Mercantile decided long ago our cor­
respondent banks shouldn’t have to
put up with that. So we gave our
account officers the authority to
approve loans.
We found it saves a lot of running
around and wasted time. Especially
for you.

Not just on commercial loans, either.
Each officer also takes care of per­
sonal and agricultural loans, plus
loans for bank stock and mergers and
acquisitions. He’ll even help you form
a syndicate, if needed.
As you might expect, this places a big
responsibility on the shoulders of our
account officers. So we try to make
sure they stay at top form. Each
officer attends seminars on credit and
finance to keep him up-to-date on the
latest trends.

Furthermore, each officer has 1600
Mercantile people backing him up all
the way. But he knows the full respon­
sibility for your satisfaction falls
squarely on his shoulders.
So why not call a Mercantile Banker
today? He's one guy who won’t pass
you on to some committee.

W e ’re w ith you.
C orrespondent Banking Division
M ercantile Trust Company N.A.
St. Louis, MO (314) 425-2404
Federal Reserve Bank of St. Louis




Service and profits.
That’s what you want from a travelers cheque.
And that’s what BankAmerica Travelers Cheques is
going a long way to deliver.

You can count on us to take care of time-consuming
chores like record keeping and data processing.
We also keep careful watch over inventory so your
supplies can be automatically replenished before
they get too low.

Whether it’s with personal touches like cheque
wallets and travelers’ handbooks, or major media
advertising and sales promotion, BA Cheque Cor­
poration is behind you 100%. We’re behind your
tellers, too. With time-saving package salles, training
materials and incentive programs like our annual
teller sweepstakes.


O ur unique cheques are countersigned on the
reverse side to discourage forgeries. But if
you follow our signature verification
guidelines and still have
problems with lost or
stolen cheques, remem­
ber: they’re our respon­
sibility, not yours.
Federal Reserve Bank of St. Louis

P .\C >



BankAmerica Travelers Cheques are as welcome in
Paris,Texas as they are in Paris, France. In fact,
they’re accepted in over 150 countries and

refundable at more than 40,000 locations w orld­
wide. For domestic travelers, there’s even a 24-hour
toll-free number to call for customer assistance. So
it’s no wonder millions of travelers take Ban kAmerica
Travelers Cheques whenever they leave home.

Service, of course, is only part of the story.
To find out the rest, call Frank Hyzdu, Sales
Manager, toll-free 800-227-3333 (in
California call 415-622-4721 collect).
He’ll tell you
just how profitable
BankAmerica Travelers
Cheques can be. And
w hy w e’re the cheque
that delivers.
From top to bottom.

BankA merica Company

Were going a long way for you.
Federal Reserve Bank of St. Louis


Chicago Bank Honors Black Airmen

“ BLACK HISTORY” m onth at The C hicago C ity Bank and Trust Com pany featured
ph otos and other m em o rab ilia of the “ Tuskegee A irm e n ,” the n a tio n ’s on ly all Black
F igh te r and B om b erG rou p in W orld W ar II. Pictured in old photo at left are Lt. Craig
“Mickey” W illiam s (le ft) and Lt. Felix Kirkpatrick, who received the A ir Medal, five
clu ste rs and D istin g u ish e d F lyin g C ross. At rig h t are Felix Kirkpatrick today (left)
and Lawrence Clark, Tuskegee A irm en p.r. d ire cto r, preparing the e xh ib it fo r the bank.

H E Chicago City Bank and T rust Company recently displayed a
unique exhibit saluting “ Black H istory” m onth. On display in the
b an k ’s lobby during the m onth of February were m any of the exploits of
the only all Black Fighter and Bomber group to fly in World W ar II.
This fascinating exhibit of photos and W orld W ar II memorabilia
recounts the events of this special group who distinguished them selves
in the skies over Europe. Collectively they were decorated by our country
with 95 D istinguished Flying Crosses, 744 Air M edals and Clusters, and
14 Bronze S tars. M any of the exhibited aviators and fighter pilots who
played a prom inent p art during World W ar II, were graduates of
Englewood High School. M any returned home to become successful
Chicagoland businessmen.
* * *
E d ito r's N ote: On February 7, 1945, I was B om bardier on a B-24 th a t
was p a rt o f a m ission h ittin g an oil refinery j u s t w est o f Vienna. W e were
sh o t down at 26,000 feet a ltitu d e by G erm an flak, b u t m anaged to fly
crippled so u th across the A lp s for 36 m in u tes before even tu a lly crashing
in a snow -covered field 25 m iles east o f Zagreb. T h roughout this time,
our P-51 fig h ter cover th ro ttle d back w ith lowered flaps to keep pace with
our reduced speed as we c o n sta n tly lo st altitude. A fte r the crash they
buzzed the w reckage for several m in u tes coun ting survivors [all 11 o f us]
and radioing our p o sitio n to A ir Force headquarters at Bari, Ita ly, then
buzzed us at 30 feet a ltitu d e one last tim e and with a wave o f the hand
took o ff for hom e with practically e m p ty gas tanks. T hey were the
fam iliar “candy strip e " P-51s o f the black F ig h ter Group which flew
cover for us on several m issions.
N o t until th is sto ry cam e in to our office 36 years later did I know who
any o f those m en were. N ow, I can e x te n d m y th a n ks to Felix
K irkp a trick and his fellow pilots.
—B en Haller, Jr., E d ito r

1st Chicago to License Cash Management
Services to Its Correspondent Banks
H E F irst N ational Bank of Chi­
cago is offering sophisticated
cash m anagem ent services for license
Northwestern Banker, May, 1987
Federal Reserve Bank of St. Louis

to correspondent banks. In addition
to the “ FO CU S” collection model,
the disbursem ent model and the

Duke collection model are availabl
along with the b a n k ’s informatioi
products. The structure of the license
program allows correspondents tc
offer these sophisticated cash m an­
agement services to their corporat
custom ers, w ithout the significant
investm ent required to develop
similar models.
Subscribers are not required to
identify the source of the models t
their custom ers, although many
choose to do so because of First
Chicago’s excellent rating in cash
m anagem ent consulting.
Daniel Ferguson, vice presiden
and head of the Cash M anagem ent
Division’s consulting services group
said the F irst Chicago offers
through regular workshops. Corres
pondents also are privy to the results
of extensive cash m anagem ent
research conducted by F irst Chicago.
Soon, participants also will be able to
attend F irst Chicago’s popular cas'
m anagem ent seminar series, which
ordinarily is open only to The B ank’s
corporate custom ers.
T hat series of cash management;
seminars designed for corporat
treasury personnel will be offered by
The F irst N ational Bank of Chicago
during the coming m onths.
Locations include New York C ity
Stam ford,
Angeles; San Francisco; Chicago and
M d.;
includes both one-day single subject
seminars, including disbursing, col­
lection, and concentration, and a
3-day cash m anagem ent overview
called Frontiers of Corporate Cash
M anagem ent. All of the sem inars are
geared to corporate treasury person­
nel with solid cash managemen

Docutel Announces ATM
Compatibility With NCR
Docutel Corporation of Dallas,
Tex. has announced the availability
of a new software package which
provides for the com patibility of its
TOTAL T EL LER Series 2 3 ( #
autom ated teller machine (ATMs)
with certain NCR Corporation ATM
networks and term inal system s.
W ith the package, D ocutel’s S e rie ^
2300 system s will operate co m p atib ly
with NCR networks utilizing th a t
com pany’s Financial Online Central
Inform ation System s (FOCIS) host
application software designed for us&
with Century and Criterion com pu­


Every vault door
Mosler makes
has to meet
the toughes^m ost
ndards: Mosler’sl’


Robert G. Smith
Operation Manager, Bank Security Products

American-Century UL-listed vault doors.
Twice as strong as steel.

Twice as strong, because SUPERLOY , a
Mosler material developed primarily for UL-listed
vault doors, stands up, not only to our strict
standards, but to even the toughest attack tests—
tests that prove SUPERLOY is twice as strong
as steel.
And yet American-Century doors are lighter
weight and more competitively priced than
other doors giving you similar protection.
American-Century vault doors feature Mosler’s
triple movement 120-hour time lock and UL-listed
emergency ventilator. And of course when you buy
any American-Century door you also get Mosler
service— the most thorough in the business.
Because not only do our products have to
meet our standards. They have to meet yours.




Hamilton, O hio 45012

Where quality products are the product of quality people.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981

the only travelers cheque
with new services
that protect more than just
your customers’money.
People who lose their travelers cheques often lose other things with them. Cash, credit cards, even
their identification.
That’s why American Express® Travelers Cheques is introducing 5 exclusive services designed
to give your customers extra vacation protection, at no extra cost. And they’re available to all
American Express Travelers Cheque customers who lose their travelers cheques in the U.S. or Canada.
No other travelers cheque offers even one of the following services. So if you want to give your
customers the best vacation protection, there’s only one travelers cheque to sell: American Express.

Only American Express will help your customers cancel their credit cards if they’re lost with their travelers
cheques. W hen they call the American Express Refund Center to report their loss,
they simply tell one of our refund representatives that their credit cards are also mi^
No matter what hour it is, they’ll be transferred to a special representative who will
assist in canceling any cards that were issued to them in the U.S. or Canada.
That’s all there is to it.

OnlyAmerican Express will issue your customers a temporary ID card if all their identification is
lost with their travelers cheques. Following verification, one of our Refund
Center representatives will direct them to an American Express Travel
Service Office in the U.S. or Canada, where they can pick up their ID
during business hours. It has our name and phone number on it, so they
can use us as a reference wherever they go.

Only American Express will cash a check for up to $200 if your customers need extra money with
their travelers cheque refund. After their U.S. or Canadian check is
authorized, any of our Travel Service or Representative Offices in the U.S.or Canada will cash it for them during business hours.

Only American Express will put its Travel Service at your customers’ service 24 hours a day if they
need to change travel plans because of their loss. One of our Refund Center
representatives will transfer them to a Travel Service Hotline representativ
who can help them arrange airline, car and hotel reservations.

Only American Express will send a Mailgram® for your customers at no charge anywhere in the
U.S. or Canada, at any hour of the day or night. Your customers simply
give the message they’d like to send to one of our Refund Center
representatives —the representative will take care of the rest. It’s a
service which could prove very helpful if your customers want to notify
someone of a change in travel plans and they’re having trouble reaching
them on the phone.

Now we protect more than just their money.
Now we help protect their vacation.
Federal Reserve Bank of St. Louis

Federal Reserve Bank of St. Louis

ROMOTIONS and other an­
nouncements have been made by
the following firms:
Banco Financial Corporation,
named Lee T. M ork executive vice
president, Robert L. Olson senior
vice president, and Harold Brandel
and Jeffrey A. Reed assistan t vice






president and chief operating officer
and Frank D. Robinson, vice
chairman and chief adm inistrative
officer, according to Raymond C.
Koontz, chairman and chief executive
Mr. W earstler, executive vice pres­
ident since 1978, joined Diebold in
1947. In 1965, he was named vice
president and general m anager of the
company. He was elected to the board
of directors in 1976.
Mr. Robinson, president since
1978, joined Diebold in 1951 as
assistan t treasurer. In 1954 he was
appointed treasurer and in 1956, vice
president and treasurer. He became
executive vice president in 1965 and
was elected to the board of directors
in 1966.

A t the annual meeting, Mr. Koontz
announced a three-for-two stock split
th a t will be distributed M ay 15 to
Mr. M ork, formerly senior vice shareholders of record April 16.
president, has been with Banco
In other news, Diebold reported
Financial since 1974. Previously, he th a t M ark Roland Voigt was recent­
was operations m anager of Jam es ly promoted to
Talcott, Inc., Minneapolis.
TABS area tech­
Mr. Olson also joined Banco nical m anager at
Financial in 1974 after being with Overland Park,
T alcott in Minneapolis, and before K an., according
th a t with Taylor, McCaskill and to an announce­
Company in St. Paul.
m ent by B enja­
Mr. Brandel started with Banco min Clevenger,
Financial in 1976 as an audit m idwestern area
supervisor after m anaging the audit service and in­
functions at Talcott.
stallation m ana­
Mr. Reed joined the company in ger. In his new
position, Mr. Voigt will provide a d ­
m inistrative and technical supportfor
Diebold, Incorporated, Canton, all of Diebold’s autom atic banking ac­
Ohio: Earl F. W earstler was elected tivities in Iowa, eastern N ebraska,
w estern Illinois, K ansas and M is­
"Accepted Sale Registers by Bank
LeFebure, Cedar Rapids, la.:
Clerks Everywhere"
Three salesmen were
Tor in fo rm a tio n w r i te
mem bership in the com pany’s
exclusive Million Dollar Club at the
Oakland, Iowa
annual sales m eeting held recently at



Digitized Northwestern
for FRASER Banker, May, 1981
Federal Reserve Bank of St. Louis


the firm ’s Cedar Rapids headquar
ters. They are:
Harold W ahl, who is in charge
the Billings, M ont., office and is a
three year veteran with LeFebure;
Ja c k L . D uD ash of Plym outh, la .,
m anager of the M ason City office,
and also a three year veteran wit
LeFebure, and Ronald J . B right o
the St. Louis region, who has been
with the company more than four
I t was also announced th a t Rober^
E. Kulikowski has been appointed
sales engineer, operating out of the
Chicago branch w ith responsibility
for Kane, Lee, Ogle, DeKalb and
Kendall counties, as well as portion^
of D uPage and Cook counties. A
resident of Palatine, 111., Mr.
Kulikowski has been active in
banking since 1968.

Minnesota Protective Life Insur­
ance Co., Eden Prairie, Minn.:
Norman A. Cram
has been named
to the
created position
of assistan t vice
president, m ar­
keting and sales,
Jam es A. Coch­
rane, president of
the firm.
Mr. Cram, 35,
lives in Eden Prairie. He has
extensive experience in the insurance
industry, having recently held
adm inistrative and sales position^
with national companies in Minne-


■ I

"W hen S ecu rity N ation al gave us the details,
w e approved the loan p articip ation even before
w e tasted th e pizza’’
MEMBER FDIC © Chase M anhattan Bank, N. A. 1979

Nothing moves faster than the fast food
business. And when our correspondent, Security
National Bank in Walnut Creek, California, was
approached by a rapidly-expanding chain of pizza
restaurants, they knew they had to commit to the loan
without delay.
But to meet their customer’s financing needs,
Security National had to have a quickly-approved
upstream participation. They contacted Chase
correspondent banking Relationship Manager, Meg
Sipperly. Meg wasted no time in gathering all the
pertinent information. Within 48 hours, she was able to
tell Security National that Chase would not only
participate, but would assist in structuring the credit
arrangement. And only a few days later, she was in
California to close the loan —and have her first taste
Federal Reserve Bank of St. Louis

Margaret C. Sipperly, Relationship Manager, Correspondent Banking

of one of the client’s pizza specialties, King Arthur’s
Nobody responds faster
Fast, knowledgeable answers on loan
participations is the way we do things at Today’s Chase.
We know that our correspondents need that kind of
response if they are to continue to serve their valued
corporate customers effectively. And there’s nothing
we like better than helping our correspondents develop,
maintain and strengthen customer
relationships. If you need a fast response
on a loan participation, you can
i |
always count on your
| |
Chase Relationship Manager.

Northwestern Banker, May, 1981


sota and Iowa. He will report to P at
Lewis, vice president-sales, and will
be directly involved in national sales
training of agents and new products
m arketing development. A native of
LaCross, W is., he attended the
U niversity of W isconsin there.

Harris Chairman Bliss Rebuts Law Judge
Recommendation That Bank Discriminated
H E recent recom mendation of a
Labor D epartm ent A dm inistra­
tive Law Judge

“ We asked only th a t he pursue his
analysis to its ultim ate conclusion
We said if his findings showec®
th a t H arris Bank
discrim ination, we would settle. His
Mosler Safe Company, Hamilton, of Chicago dis­
analysis showed otherwise, so we
Ohio: The prom otion of J .F . (Jack) crim inated
ahave persevered.”
Sm ith to direc­
In discussing two c o n tro v e rsial
tor, installation
studies th a t the bank refused t®
and service sup­
was rebutted by
produce, Mr. Bliss said they were
port operations,
Charles M. Bliss,
withheld because they were produced
has been announ­
in anticipation of litigation.
ced by J . M ac­
chief executive
“ The law perm its us to withholcL
officer, at the
information of this nature and, in
vice presidentC .M . BLISS
annual m eeting
fact, this premise recently was upheld
of stockholders of H arris Bankcorp, in a Supreme Court case. More
tion and service.
im portantly, though, the govern­
Mr. Sm ith will be
Reminding the audience th a t the m ent had all of our personnel record^
responsible for
judge did not rule, b u t merely including those which we used in
providing support to M osler’s field recommended a decision to the
developing these studies. The irony
operations through direction of their Secretary of Labor, Mr. Bliss said,
of this
issue is . . . th a t the
service training center; service parts; “ If the Secretary follows the ju d g e’s
governm ent withheld more than 50
technical services; technical publica­ recom mendations, we plan to take
docum ents from u s .”
tions; photographic surveillance film the case into the federal courts. And
Mr. Bliss pointed out th a t in
processing, and service/sales prom o­ we will stick w ith it as long as we
reporting the b an k ’s affirm ative
tion functions.
m u st.”
action results in the category of
Prior to his promotion, Mr. Sm ith
Mr. Bliss noted th a t he has been officials and m anagers, females went
was director of custom er service. He asked often why the bank continues
from 10.9% in 1971 to 27.6% a ^
is a 22-year Mosler veteran and is a to pursue the case instead of settling
January 1, 1981. In the professionals
graduate of DeLaSalle Institution, with the governm ent.
category, female participation grew
NewYork City, and Toledo Univer­
The answer is th a t we believe we from 10% in 1971 to more than 50%.
sity, Toledo, Ohio.
are not guilty of the charges brought M inority officials and m anagers were
by the governm ent and th a t no at 2.3% in 1971 and 10.8% a ^
affected class e x ists,” Mr. Bliss said. Jan u ary 1, 1981. M inority profes­
“ Our belief is based on studies sionals went from 8.4% to 21.3% in
BarclaysAmerican Will
per formed by the respected s ta tis ti­ the same period.
Sponsor 15th Institute
cian, Dr. H arry Roberts of the
H arris Bank attorneys last m onth
The Division of Continuing U niversity of Chicago. Dr. R oberts’ were preparing exceptions to t h ^
Education at M arquette U niversity, analysis for the years in question 85-page report of the A dm inistrative
Milwaukee, and BarclaysA m erican/ showed no discrim inatory em ploy­ Law Judge and planned to file them
Business Credit will present the 15th m ent practices.” (Dr. R oberts’ study by May 1 w ith the Secretary of
In stitu te on Commercial Financing was not allowed into evidence by the Labor. The recom mendation of the
and Factoring M ay 28 and 29 a t The A dm inistrative Law Judge.)
A L J now rests in the Secretary o #
Red Carpet Hotel in Milwaukee.
Mr. Bliss said when Dr. Roberts Labor’s office and may be ignored or
The two day institu te is designed was engaged to perform the study, acted upon.
to provide an introduction to and
review of business lending services
and will draw upon the expertise of
BarclaysA m erican/B usiness Credit trial credit, and legal professions can conducted by Bank A dm inistration
Subject areas
will stay abreast of current developm ents In stitu te, May 20, in Chicago at the
include: structuring commercial fi­ in asset-based lending.
M arriott O’H are Hotel.
nance loans; legal principles of
Persons interested in further
The program will feature discus­
secured financing; operating tech­ inform ation should contact the sions on the perspective of t h #
niques and controls, field auditing; Division of Continuing Education at clearinghouse in the 1980’s, organiza­
adm inistration of secured financing; M arquette U niversity, 1217 W est tion, adm inistration and operation of
and factoring.
W isconsin
Milwaukee. a clearinghouse, opportunities for
According to In stitu te coordinator
clearinghouse m em bership, future
Kenneth J . Krueger, vice president
developments in the industry ano#
BMA Plans Seminar on
and m anager of BarclaysA m erican/
case studies of several types of check
Business C redit’s midwest service Check Clearing Methods
clearing arrangem ents.
center in Milwaukee, the bi-annual
“ Check Clearing A lternatives,” a
For further inform ation contact
institute is conducted to provide a one-day sem inar designed to explore Ned M iltko at BMA, 303 S.
means by which persons involved in the alternative m ethods of check N orthw est Highway, Park R id g e#
the banking and accounting, indus- clearing arrangem ents, will be 111., 60068, 312/693-7300.

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis



The difference between what your
customer wants to borrow...
and you want to lend.
When a customer wants to borrow more than you’re
willing to lend, a bank/Heller participation loan can serve
you both. Very simply, your bank funds a portion of the
loan; Heller provides the balance up to your customer’s
full borrowing capacity on a secured basis. Heller
does all administrative work. Your bank profits by
continuing to render all other bank services to the
Through participations, banks of all sizes are
benefiting from Heller’s more than 60 years of
When you want the comfort of a secured
loan without the administrative burden of
handling it, tap Financial Fuel from Heller.
It’s the resourceful banker’s resource.


Financial Services

"Financial Fuel from Heller" is a service mark of W alter E. Heller & Company.


Walter E. Heller & Company 105 W. Adams St., Chicago, III. 60603 • New York • Boston • Philadelphia • Baltimore • Syracuse • Minneapolis • Detroit
Kansas City • Denver • Atlanta • Charlotte • Miami • Birmingham • Columbia, S.C. • New Orleans • Houston • Dallas • San Antonio • Phoenix • Tucson
Albuquerque • El Paso • Salt Lake City • Los Angeles • San Francisco • Irvine, CA • Portland • Seattle • Spokane • San Juan, P.R. Heller services also available
in Canada and twenty one other countries around the world.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Mosier Awards President’s Cup

RMA Schedules Workshop
On Loan Management

Robert M orris A ssociates has
scheduled a new workshop on “ Loan
Group M anagem ent.” Registratio
is open to personnel from non-RM
member banks; however, those from
the association’s member banks will
receive preference.
The workshop dates and location
are May 28-29, A tlanta; Septembe
17-18, Houston; and October 22-23,
Chicago. The program will focus on
m anagem ent skills for the person who
is approaching or has ju st achieved
m anagem ent position within th
commercial lending function. I t will
deal with goals and objectives,
setting standards, m otivating em ­
ployes, and evaluating results.
M anagem ent will be discusse
from both an academic and practical
approach, with an emphasis on
solving the problems of the loan
AT A CEREMONY held at the H a m ilto n , O hio, headquarters fo r The M osler Safe
group m anager.
C om pany, the 1980 P reside nt’s Cup and a $1,000 check were awarded to Gary Paul,
General M anager of M osler/C an ad a. The cup is awarded to one of the 14 sales
Professor Charles Green, of the"
groups w ith in the com pany w h ich best m eets the crite ria esta blished by the
School of Business,
com pany du rin g the p rior year. The 1980 awards were based on orders received
will serve as
versus plan. The P reside nt’s Cup w ill rem ain in Canada th ro u g h o u t 1981.
m oderator for this workshop. The
Shown above presenting an oversized $1,000 check and the P reside nt’s Cup are
Robert F. M urphy, President; Gary Paul, General M anager-M osler/C anada; Robert
other faculty members will be Robei
Kyle, Sales M anager-M osler/C anada; and C harles H. C o m fo rt, III, Vice President,
Dressel, vice president, United BanlT
M arke tin g -In te rn a tio n a l and G overnm ent.
of Denver, and Terry Irvin, senior
vice president, Citizens Fidelity
Bank & T rust Co., Louisville.
The fee for the workshop is $265 f
A t N orthw estern National, M inneapolis—
RMA members and $315 for RMA
non-members. For more information,
contact registrar P a t Hoffman in the
Cash Fund Account Competes with MMFs
RMA National Office, 1616 Philadel­
phia N ational Bank Bldg., Philade
According to Mr. Eisen, “ The phia, Pa. 19107; (215) 665-2880.
O M PETITIO N for consumer
deposits grew more intense last Prime Cash Fund will provide not
m onth when N orthw estern National only accessibility and a good return,
Bank of Minneapolis introduced to but also a fixed rate to m aturity.
David Doyle Named Acting
investors across the nation an Deposits will be insured up to
alternative to money m arket m utual $100,000 by the Federal Deposit Head of Chicago Fed
Insurance Corporation, which is not
David M. Doyle, 51, first vice
The new account, the Prime Cash true of money invested in a money president in charge of operations for
Fund, combines the high yield of a m arket m utual fund.”
the Federal Reserve Bank of Chicago,
The interest rate paid on the has been named acting president
26-week savings certificate of deposit
with the accessibility of a checking certificate is determined at the time the bank.
account. An initial deposit of $10,000 the account is opened. T hat rate,
Mr. Doyle will serve in th a t post
or more is required, which purchases which is established weekly, was until a successor to Robert P. Mayo is
the Prime Cash Fund Certificate. 12.5% on April 1, the week the named.
Customers then m ay access a line of announcem ent was made.
Mr. Doyle has been mention
The interest rate paid by the along with several other candidates
credit equal to the initial deposit level
custom er on am ounts draw n against for the job.
via checks or telephone.
Paul M. Eisen, senior vice the line of credit is fixed a t 1 % above
He joined the bank in 1957 as a
president of m arketing, said “ The the rate of interest on the deposit.
personnel trainee. In November of
The account is available from 1973 he served as deputy m anaging
new account is designed to serve
those custom ers who seek higher N orthw estern to persons outside as director of operations for the Federal
levels of interest, bu t are concerned well as within the state of M innesota. Reserve Board, W ashington, and as
about the potential effects of Interested persons can get further m anaging director in A ugust, 1974.
Mr. Doyle returned to the Chicago
declining interest rates on invest­ information by w riting to the bank or
m ents in money m arket m utual calling directly via a special W ATS Fed in 1975 as first vice president®
fu n d s.”
Mr. Mayo, 65, retired M arch 31.
line, 1-800-328-4651.


Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis



These are uncertain
tim e s. W e have been
in a serious recession,
bu t w e ’re n o t sure
how deep it has been
o r how fa s t we are
climbing out. M oney
ra te s reached
unheard of heights,
but we do n’t know
how m uch the y will
drop o r if the y will drop
back to norm al. Some o f our
large, basic in du stries are in
tro u b le . O ur econom ic stability is
dependent on a stea dy flow of
pe tro le u m im p o rts which may o r
m ay n o t prove dependable.
All o f th is u n c e rta in ty m akes
business lending very difficult.

H ow ever, SLT can
elim inate som e of th e
u n ce rta in ty th a t lenders
face by guaranteeing
your c u s to m e rs ’ inventory
as pledged collateral.
For ove r 5 0 years, we
have w o rked w ith
banks and com m ercial
lenders to collateralize
loans and m ake lending
s a fe r and m ore profitable.
Give us a call; we can elim inate
u n ce rta in ty fro m your
loan po rtfo lio .

P.O. Box 242, St. Louis, Mo. 63166 • 3 14 /2 41 9750 • Offices in Maior Cities
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


American Express Offers 5 New Services
For Travelers Cheque Refund Claimants
M ERICAN Express Company
now will provide five new,
exclusive servic­
es free-of-charge
whose American
Express T ravel­
ers Cheques have
been lost or sto ­
len, according to
Michael E. Live­
press Travelers
Cheque Division, New York.
In addition to replacing lost or
stolen Travelers Cheques, the new
services —available to refund claim­
ants in the U .S. and C anada—are:
• Check Cashing. Refund claim­
ants will be able to cash U .S. and
Canadian dollar checks up to $200
during business hours at the more
than 500 American Express Travel
Service Offices and Representatives
in the U.S. and Canada.
• Credit Card Cancellation. Refund
claim ants who have had their U .S. or
Canadian credit cards lost or stolen
can arrange to have them cancelled 24
hours a day when they call American
Express to report their m issing
Traveler Cheques.
• Temporary I.D. Card. Refund
claim ants who
identification may arrange to obtain a
tem porary I.D . card at American
E xpress’ network of over 500 Travel
Service Offices and R epresentatives
in the U .S. and Canada. The I.D .
cards will be delivered during
business hours only.
• Reservation Assistance. For
refund claim ants who need to
re-schedule their plans, American
Express will make available its
24-hour toll-free “ Travel H otline’’ to
help with airline, hotel and car rental
• Message Service. A W estern
Union M ailgram will be sent upon
request to notify one individual—
family, friend, or business associate
—of a change of itinerary.
“ The development of our new
services,’’ explained Mr. Lively, “ is
directly based upon our on-going
m arket research, which shows th a t
our custom ers have m ajor concerns in
addition to getting their Travelers
Cheques refunded. From our research
and experience, we know th a t if

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

individuals experience a loss or theft
of Travelers Cheques, they often lose
such other valuables as cash, credit
cards and identification.
“ In addition, they typically are in a
strange city and, due to their loss,
find their travel plans delayed. In
short, it ’s a period of high anxiety.
Our five new emergency services
address the five m ost commonly cited
concerns of travelers and are
designed to provide practical assis­
tance at a time when travelers need
help the m o st.’’

After business hours, the p ro c ^
dure is only slightly d iffe re n t
Refunds claim ants again call Am eri­
can Express toll-free or collect, but
are directed to the nearest Holiday
Inn to pick up an Em ergency R efun^
of up to $100. During th a t same
phone call, credit card cancellation,
reservation assistance and message
service can be provided. For check
cashing and tem porary I.D . cardan
along with the balance of their full
refund, custom ers can be directed to
the nearest American Express travel
service office or representative the
next business d ay .

Moroney Named President
Of the EFT Association
William R. Moroney has been
elected president of the Electronic
Funds Transfer Association, it was
announced in W ashington, D .C., lasst
m onth by E FT A Chairm an H ow a/
M andelbaum.
Mr. Moroney assum ed his duties
as the E F T A ssociation’s chief
executive officer on M arch 2, note
Mr. M andelbaum , who is also vie!»
president in charge of retail E FT
research and planning at M anufac­
turers H anover T rust Company in
New York.
The EFT association was formed in
1977 to provide a public policy forum
for the continued oversight of E FT
issues following the completion of the
work of the N ational Commission o |
Electronic Fund Transfers. E F T A ’s
m embership is comprised of all types
on institutions involved in offering
and providing E F T system s and


TEMPORARY I.D. Cards are now being is­
sued to A m erican Express Travelers
Cheque refund cla im a n ts in the U.S. and
Canada w ho have lo st all th e ir personal
id e n tific a tio n . M erchants acce ptin g the
I.D. Card as id e n tific a tio n may call
A m erican Express, using the to ll-fre e
num ber liste d on the back of the I.D. Card,
to fu rth e r ve rify the c u s to m e r’s id e n tity .

To apply for the new services,
claim ants need only follow American
E x p ress’ existing Travelers Cheque
refund procedures. During business
hours, the custom er typically is
directed to the nearest full refund
location to pick up replacem ent
Travelers Cheques by calling toll-free
800-221-7282 in m ainland United
S tates, toll-free 800-221-4950 in
A laska and Hawaii or 212-248-4585
collect in New York S tate and
“ N ow ,’’ continued Mr. Lively,
“ during th a t same phone call, Credit
Card Cancellation, Reservation A s­
sistance and M essage Service can be
provided. For check cashing and
tem porary I.D . cards, refund claim­
ants can be directed to the nearest
American Express travel office or
representative where they m ay also
receive their Travelers Cheque

Howard Bell To Retire
Howard Bell, executive director c£
the Independent Bankers A ssocia­
tion of America,
is retiring as top
staff officer effec­
31, 1981.
Special recog­
nition was given
to Mr. Bell a t the
51st annual con­
vention in Las
m onth. The 64year old Mr. Bell will leave the post
after 18 years of service w ith t h #

"The B ull
stops here”
Straight Talk and Fast A ction.
That’s right. The Bull stops here.
Because at Drovers we know what our correspondents want.
Straight talk and fast action.
When you correspond with us, you have a ready-line to Drovers’ full senior
management team; a team that knows what’s happening out where you are.
With them goes the muscle, brain power and experience that have made the
name “Drovers” so highly respected with correspondent bankers throughout
the midwest for over 95 years.
The Bull stops here. No ifs, and’s or but’s. That’s why we say, “Drovers
Country is your kind of country, and Drovers Bankers are your kind of
bankers.” Put us to the test.

Drovers Bank of Chicago
47th Street & Ashland Avenue, C hicago, IL 60609 (312) 927-7000
Federal Reserve Bank of St. Louis

Member FDIC
Member Federal Reserve System

Northwestern Banker, May, 1981


Leading S&Ls in Midwest, Mountain States
Source: Federal Home Loan B a n k re p o rts a s o f1 2 /3 1 / 80 (LastthreeO O O som itted)

*1 .
**4 .

Twin C ity FS&LA - M in ne apo lis ...........
M idw est FS&LA - M in n e a p o lis ...........
M innesota FS&LA - St. Paul ..................
F irst FS&LA - M in n e a p o lis ....................
Home SA - M in n e a p o lis ..........................
N orthern FS&LA - St. P a u l......................
St. Louis Co. FS&LA - D u lu t h ...............
Hom e FS&LA - S pring V a lie v ..................
F irst FS&LA - M a n k a to .............................
F irst FS&LA - A lb ert Lea ........................



A ssets


M ort. Loans

*T w in C ity and F irst - M ankato merged e ffective 1-31-81.
** F irs t-M in n e a p o lis and Hom e S A -M in n e a p o lis merged e ffective 1-19-81.



Am erican F S & L A -D .M ...............................
U nited F S & L A -D .M ....................................
M idland F inancial S & L A -D .M .................
F irst FS&LA - D a v e n p o rt..........................
F irst FS&LA - S ioux C i t v ..........................
Perpetual S&LA - Cedar R a p id s ...............
H o m e S & L A -W a te rlo o .............................
F irst FS&LA - Storm Lake ........................


Mort. Loans


Mort. Loans


Mort. Loans


Mort. Loans


Mort. Loans


Mort. Loans


Mort. Loans


C o m m e rc ia l.............................
F irst, L in c o ln ..........................
S ta te ..........................................
Nebraska F e d e ra l..................
Nebraska S t a t e ......................




F irst FS&LA - Rapid C itv . . .
Hom e FS&LA - S ioux F alls .
F irst F S & L A -W a te rto w n .. .
U nited FS&LA - Aberdeen ..
F irst FS&LA - S ioux F a lls .. .




M e tro p o lita n FS&LA - Fargo
Gate C itv S&LA - Fargo . . . .
M idw est FS&LA - M in o t . . . .
F irst FS&LA - Grand F orks. .
F irst FS&LA - B ism a rck . . . .




H o m eF S & LA ..........................................
S ecurity FS&LA of B il lin g s ..................
F irst FS&LA of Tw in F a l l s ....................
State S&LA ..............................................
F irst FS&LA of Great F a lls ....................




Rocky M ountain F S & L A ........................
C apital S & L A ............................................
P rovident FS&LA of C a s p e r..................
G uaranty F S & L A .....................................
F irst FS&LA of Sheridan ......................




W e s te rn ...................................
E m p ire .....................................
C o lu m b ia .................................
M a je s tic ...................................
M id la n d ...................................

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis



Mercantile Trust Opens
Money Museum to Public


M ercantile T rust Company, St.
Louis, has established a Money
M useum, Donald E. L asater, M e ^
cantile’s chairm an and chief execm
tive officer, has announced.
The m useum, located on the
Podium Level of the M ercantile
Tower, 7th and W ashington, is opea
to the general public from 9:00 a.m ;
to 4:00 p.m ., M onday through
Friday, except holidays. Adm ission
to the m useum is free and group tours
may be arranged by calling 425-205CL
The M ercantile Money M useum
was established in cooperation with
the Eric P. Newman N um ism atic
Education Society and features the
Eric P. Newman collection a n i
Num ism atic library. The Money
M useum, with 36 display cases,
exhibits rare and historical coin and
currency in an entertaining and
informative manner. Mr. Newman ia
recognized internationally as an
authority on num ism atics.
The displays are based on various
them es, including Benjamin F ran k ­
lin’s involvement in the m o n etary
system of Colonial America; the
im portant roles blacks and Indians
played in the history of the American
m onetary system ; early coin and
currency in M issouri’s history, anoj|
displays of how money has been
made, both legally and illegally.
In addition to the m onetary
displays, the museum features a
collection of money changers fro
throughout the world and a collection
of plants th a t bear m oney-related
names. Of special interest are two
talking mannequins: one resembling
Benjamin Franklin, who discusses ¿4
history of money; the other an
imprisoned counterfeiter, who dis­
cusses his plight. The displays in
the museum will be changed from
time to time to accommodate Mr I
New m an’s extensive collection.

ABA Picks Consultant for
Check MICR Line Study
A study to identify present and
future needs of the M ICR (M agnetic
Ink Character Recognition) line —the
identifying symbols used for au to m a®
ted check processing—has been
commissioned by the American
Bankers Association, announced
John J. E vans, chairm an of the
Operations and A utom ation Divisior®
executive committee.


Northwestern Bankers,
M eet T he Associates
Money-For-Business Team.
People W >rth Knowing.
You’ll like do in g business with T h e Associates.
For over sixty years, o u r fin an cin g profes­
sionals have b e en h elp in g business people
— m a n u fa ctu rers, processors, w holesalers—
acquire the w orking capital they n e ed for
so u n d grow th an d expansion.
T h ro u g h T h e A ssociates’ p articip atio n
p ro g ram s, we have h e lp ed bankers m aintain
an d en h an ce th e ir relatio n sh ip with th e ir
custom ers. Loans are frequently m ade to
ban k custom ers th a t w ould n ot ordinarily
be possible w hen the bank is o p eratin g
in d ependently. W ith T h e A ssociates M oneyFor-B usiness Team , bankers a re assu red

the closest businessm an-to-businessm an
cooperation, com bined with decisiveness
an d professionalism .
For in form ation a b o u t o u r b an k ers’
p articipation p ro g ram s, call T h e Associates,
Business Loan Division. People w orth know ing.

T he Associates
Business Loans

55 E. Monroe Street— Suite 3600
Chicago, IL 60603
® (312) 781-5800

Business Loan Offices in Atlanta, Boston, Charlotte,
Cherry Hill, NJ, Chicago, Dallas, Detroit, Houston, Los Angeles,
Miami, New York, St. Louis, San Francisco, Tulsa.
Associates Commercial Corporation is a subsidiary of Associates Corporation o f North America, a Gulf + Western Company.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


After 64 years

still has the same name!

Not only have we had the same name all these years but our business
philosophy has also remained as it was back in 1917.

Competitive premiums, prompt, courteous service and fair loss
adjustments have been as consistent as our name.


“The Premium Won’t

Jim Dawson

Bob Dawson

Lyle Askerooth


. A Loss Might!”

Tom Dawson

BOX 1820 FARGO, ND 58107
If you are NOT a Dawson agent,
call our office toll free 1-800-437-4680
or (N.D. toll free 800-342-4848) and we will send
one of our key people to visit with you.


Dennis “ Chris”

Norm Selzle

for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis

Pat Dawson

Bev Ingersoll

____________________ ________________


agent for 54 banks and S&Ls in
Indiana, M ichigan, K entucky and
Ohio by selling $20 million in jum bo
90-day CDs at 14% to Federated
Cash M anagem ent System s. I t was
the second such deal w ith Irwin
Union as coordinating agent. In the
first, held in m id-February, $18.6
million of the $100,000 CDs were
issued a t 15 Vi % .
On M arch 26, a spokesm an for
Dreyfus Liquid A ssets said th a t fund
H IL E Money M arket Funds on until all CDs have no ceiling after was close to an agreem ent with a
exploded above the $112 billion five years.
financial institution which would
m ark last m onth, the federal
package CDs issued by small,
$140 Billion Up for Grabs
epository institution regulators who
prim arily rural banks. William
In the m eantim e, an estim ated Barkowitz, Dreyfus president said,
omprise the Depository In stitutions
Deregulation Com m ittee languished $140 billion of bank money m arket “ This is being done for political
in inaction. Commercial banks, certificates was to come due in the six purposes, as much as anything else.”
m utual savings banks, savings and weeks immediately following the
The Independent S tate Bank of
loans and credit unions all have been M arch 26 DIDC meeting, the biggest M innesota offered M M Fs a pool of
victim s of disinterm ediation th a t is block of such m aturities in the $31.7 million from com m unity banks
pouring former deposit dollars into two-year history of the instrum ents. and S&Ls in the last six m onths and
A total of $365.5 billion of six-m onth sold the pool to eight large funds. I t is
the M M Fs at a record pace.
CDs will m ature at banks by A ugust anticipated other larger banks will
DIDC Meeting
Several m ajor New York banks begin offering such jum bo packages.
) On M arch 26 at their scheduled
m eeting, the DIDC ignored the were waging a blitzkrieg war last
long-standing requests of banks and m onth through advertising and
Current Bank Status
S&Ls to impose reserves on M M Fs direct mail to persuade holders of
The American Bankers A ssocia­
such as are required of the depository m aturing CDs to lock in guaranteed tion reports th a t increased holding of
in stitu tio n s an d /o r take immediate six-m onth rates. Money m arket fund six-m onth CDs and large CDs have
steps to give the regulated in stitu ­ m anagers, on the other hand, were made bank liabilities significantly
tions authority to compete with looking to even greater inflows of more rate sensitive. Its sam pling of
similar instrum ents to keep deposit money at their unregulated higher 1980 year-end call reports shows th a t
dollars from flowing out. The DIDC rates. To offset ABA and IBAA when the 30-month small saver
ih o se to do nothing for the time being pressure on the DIDC to do certificates are included, m any
som ething, they have taken up a smaller banks have more than
It offered two proposals for 30-day drive of their own with shareholders one-third of their total liabilities and
comment: 1. Lift the interest rate cap encouraging them to write Congress capital in the form of rate sensitive
on 2 V2 -year small saver CDs, and 2. to protect the M M F turf.
deposits, about as much as the larger
Treasury Secretary Regan stated banks.
iBegin the phase-out over a five-year
period of Reg Q, which was already recently the governm ent was con­
This shift, says the ABA, has
m andated a year ago by Congress, sidering the im plem entation of occurred principally in the last two
which form ulated the DIDC at th a t reserve requirem ents on the funds, years and reflects a decline in the per
time and gave it six years to get rid of but nothing has happened there or at cent of liabilities held in demand,
eg Q. Since th a t was one year ago, the Fed, and the DIDC has failed to savings and small tim e deposits
the current five-year phase out initiate action authorizing regulated (other than six-m onth CDs and small
proposal m ust be in place soon. It will institutions to compete.
saver certificates).
first lift the ceiling on CDs of five
Banks Fight Back
The ABA sam pling of 854 call
The Irwin Union Bank & T ru st Co. reports includes six different size
years or more; the second year will do
Ihe same w ith four-year CDs, and so in Columbus, I n d ., has been acting as categories, representing about 40%
of the total assets in the banking
industry. The growth of interest
rate-sensitive deposits in the past
Growth of Interest Rate-Sensitive Deposits in Banks*
two years is illustrated in the
Size of Bank
E stim ated Ratio of Large C e rtifica te s of D eposit and
accom panying chart.

* Banks, S&Ls lock horns
. with money market funds

$ M illio n s
December, 1979

M oney M arket C e rtifica te s to Total D om estic L ia b ilitie s
and E qu ity C apital
December 31,1978
December 31,1980

o v e r l,000


‘ Source: A m erican Bankers A s s o c ia tio n .
Federal Reserve Bank of St. Louis


S&Ls Earnings Drop
While disinterm ediation continues
apace a t the depository institutions,
savings and loans were facing
another b itter pill. The Federal Home
Loan Bank Board recently reported
th a t S&Ls return on assets had
dropped from an annual rate of 0.17 %
during the first six m onths of 1980 to
Northwestern Banker, May, 1981


Growth of Money Market Funds*
(in b illio n s )
$1 20.0

112. 3

$ 80.0



$ 60.0

$ 40.0
$ 20.0



1 2 /3 1 /7 8

6 /3 0 /7 9





1 2 /3 1 /7 9

6 /3 0 /8 0

1 2 /3 1 /8 0


‘ Source: Investm ent Com pany In s titu te , W a sh in g to n , D.C.

0.10% in the second half. The
FH LBB defines industry profitabil­
ity as net income after taxes as a
percent of average assets. This
followed the report from the U.S.
Savings & Loan League th a t the net
increase in net deposits of $900
million in February was the lowest in
11 years. The dram atic decrease in
the last six m onths of 1980 was
attrib u ted to “ a further rise in
interest rates paid by associations to
savers and lenders for fu n d s.”
Federal Savings & Loans
Return on Assets-1980*



_______ I __________■

6 /3 0 /8 0
1 2 /3 1 /8 0
‘ Source: Federal Hom e Loan Bank Board.

The average cost of S&L funds rose
from 8.77% during the first half of
1980 to 9.11% in the second half. The
report from then FH LBB Chairm an
John Dalton said the outlook for
S&Ls in the first half of 1981 isn ’t
bright and they will suffer “ an even
more severe earnings squeeze”
because of the near-record level of
m arket rates in the first quarter. He
said th a t in the last six m onths of
1980 th a t 35% , or 1,419 of 4,002
federal associations, lost money, up
from 31% in the first half.
Reports of continued m ergers
within the S&L industry in recent
m onths were followed by Chairm an
Dalton announcing the FH LBB has
authority to approve interstate
for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis

mergers if one of the thrifts is in
trouble. Mr. Dalton, who was a “ lame
duck” chairm an at the time, and
since has been replaced last m onth by
Chairm an
P ra tt,
immediately rebuffed by Senate
Banking Chairm an Jake Garn (R.,
U tah), who was then promised by
Mr. Dalton th a t the interstate
banking test would not be considered
by the FH LBB until after the new
chairm an (Mr. Pratt) was named.
Mr. P ra tt is from Mr. G arn’s home
state of U tah.
Credit Union Problems
E arnings were reported up at credit
unions, according to the National
Credit Union Association, although
NCUA policy analysis chief Robert
D ugger says they ‘‘are not entirely
out of the w oods.” He said only one
credit union was added in 1980 to the
list of 817 credit unions considered
m ost likely to fail last year. In 1979,
more than 400 were added to the list
as victim s of inflation and a tig h t lid
on credit union interest rates. In early
M arch, Mr. D ugger was concerned
th a t more than 3,000 credit unions
still had not filed their financial
reports and he was considering
imposing the m aximum fine of $100
per day for not reporting prom ptly.
Mr. D ugger said, ‘‘Not filing is the
post powerful indication we have th a t
a credit union is in financial trouble.
Now, we can only assum e th a t as
m any as 3,000 credit unions are in
trouble.” He added th a t assum ption
probably is not the case. There are
22,000 credit unions in the nation.

th a t calls for a governm ent ‘‘bail o u t”
of the thrift industry and banks thdP
have lost money for at least two
quarters and th a t have at least 10%
of their assets in home m ortgages.
Called “ the low-yield m ortgage
program ,” it asks Congress tP
authorize a trade of variable rate
governm ent bonds, or debentures,
for low-yielding m ortgages in the
portfolios of troubled financial
institutions. The trade would be av
par value and the cost of the program
to the governm ent would be the
difference between the am ount the
governm ent would pay on the
variable rate bonds, which would hW
indexed to 30-month governm ent
securities, and the am ount th a t the
m ortgages would yield. Only m ort­
gages yielding 7.5% or less could b ^
traded for the governm ent bonds,
which would be nonm arketable. The
financial institution would have up to
10 years to repay the governm ent.
Number of Credit Unions
Most Likely to Fail*




12/31 /78
12/31 /79
‘ Source: CUNA.

12/31 /80

The NAM SB proposes th a t the
Secretary of Treasury, the FD IC and
FH LBB oversee the program . No
insurance funds would be involved^
NAM SB concedes the program
doesn’t have much of a chance with
the Reagan A dm inistration’s posture
of cost-cutting.
Comptroller Draws Fire
The recently issued ruling by
Comptroller of the Currency John
Heim ann th a t allows national banks
to increase their m ortgage rates 1 9W
every six m onths on adjustable rate
m ortgages drew fire from Rep.
Benjamin Rosenthal, (D., N .Y .). Mr.
Rosenthal stated th a t increases of
two percentage points a year “ will fa|*
exceed the income gains of m ost
families and will make these loans too
Mutuals Seek “Bail Out”
risk y .” He added th a t “ only the rich
The N ational Association of and those with a gam bling streak will
M utual Savings Banks issued a be able to go to the banks f o ^
report from its Special Committee m ortgage loans.”

Your preferred customers are not
accustomed to making mistakes.


Or tolerating them.
They're dem anding. Of them selves, and of others.They may
forgive a mistake, but they w on't forget. It's part of the reason
they're w here they are today. Because these custom ers are
im portant to you, they’re im portant to us.
That's why we re dem anding, too. Orders in production
are inspected repeatedly. Trained proofreaders give their undivided
attention. And a sophisticated com puter verifies account
num bers, catching exceptions before they ever enter the system .
At Deluxe, we don't treat m istakes casually. That's the
way it has to be. B ecause your reputation with y o u r custom ers
is on the is ours.
You have your preferred custom ers w hom y o u j
m ust satisfy. We do, too. You're one of them .
Federal Reserve Bank of St. Louis


IBAA OFFICERS - Robert L. McCormick, 1st v.p.; Thomas F. Bolger, past pres.; W .C.
Bennett, pres.; James D. Herrington, 2nd v.p ., and Arch G. Mainous, Jr., treasurer.

Independents Elect W .C. Bennett;
Defend Farm Credit Bill


B EN N ETT, chief executive 1st vice president, Robert L.
W C.■officer/executive
vice presi­ McCormick, J r., president of Still­
w ater Bank and T rust Company,

dent, A rthur S tate Bank, Union,
South Carolina, is the new president
of the Independent Bankers A ssocia­
tion of America. He was elected at the
IB A A ’s 51st annual convention in
Las Vegas last m onth. Nearly 3,000
were in attendance.
Elected to assist Mr. B ennett were;

Stillw ater, Oklahoma; 2nd vice
president, Jam es D. H errington,
chairman and president, The Coldw ater National Bank, Coldwater,
K ansas, and treasurer, Arch G.
M ainous, J r., president, Citizens
Union N ational Bank & T rust

Company, Lexington, K entucky.
President’s Address
Outgoing President Thom as F.
Bolger, president, M cHenry State
Bank, M cHenry, Illinois, named
inflation and related high in te rest
rates as the m ost im portant industry
problem. Com m enting on other
problems, he said th a t com m unity
banks do not need more money they

LEFT - Sidney J. Taylor, c .e .o ., and Irvin H. Cole, vice ch m n ., Drovers Bk. of C hicago, host party at IBAA con ven tion . RIGHT - Geor^fr
Woodard, Jr., and Mark Mihm , d ire cto r, F irst N a t’l., W est U nion, la., w ith Bill Rickert, sr. v.p., N at’l. Bk. of W aterloo (center).

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis


L E FT - Don H. Johnson, v.p., A m erican N at’l. Bk. & Tr., St. paul; John Hudson, pres., Farmers & M erchants Bk., Beach, N .D .; Kurt Zerr,
)res., Bk. of H azelton, N .D ., and Gerald W ilier, pres., Bk. of K irkw ood Plaza, B ism arck, N.D. RIGHT - Audrey and Robert Ortloff, pres.,
'B an k of S toddard, W is., and Mr. and Mrs. Robert Jacobson, v.p., A m erican N at’l. Bk. & Tr., St. Paul.

:annot afford and so they do not need
a new instrum ent to compete with
money m arket funds. He listed the
negotiable rate m ortgage as another
instrum ent not needed. He added
that it would only enable com m unity
banks to lend money th a t custom ers
can’t afford.
Referring to IB A A ’s split w ith the
American Bankers Association on
the farm credit am m endm ents, he
said the am endm ents were a political
reality th a t would pass regardless of
w hat the banking industry did. He
concluded th a t although IB A A and
*ABA will agree on m ost issues, there
will be more issues in the future th a t
will break along big bank/sm all bank
Mr. Bolger added a footnote,
rstatin g th a t Senator Jake Garn of
U tah, the new banking comm ittee
chairm an, has questioned the need or

even the wisdom of interstate
banking. He said th a t if you hear
someone talking about “ banking
losing m arket share because of
geographic restrictions on b an k in g ,”
they are talking about interstate
branching and nothing else.

governor of the Farm Credit
A dm inistration, appeared on the
program to “ clear up confusion,
m isunderstanding and m isinterpre­
ta tio n .” He concentrated his rem arks
on the OFI provision, statin g th a t
commercial banks m ust be signifi­
cantly involved in farm lending, m ust
Colorado Report
have a continuing need for a
Congratulations were extended to supplem entary source of funds to
the Colorado independents on their meet the needs of ag borrowers, m ust
role in the resounding defeat of have only limited access to regional or
statew ide branching last fall. Over national capital m arkets, and may
one million people voted in the not use the FICB services to expand
general election and defeated the financial services to persons or for
branching issue by a vote of three out purposes other than those authorized
of four. President Bolger reminded in the 1971 Act.
delegates th a t “ the Colorado story
Changes th a t m ay come about are
has m eaning for everybody.”
(1) lowering the volume of ag loans
Farm Credit Bill
required to establish eligibility from
Not all IB A A members agreed 25 to 15 percent of the total loan
with passage of the 1980 Farm Credit portfolio; (2) changing the required
Am endm ents. Donald E. W ilkinson, loan-to-deposit ratio from 65 to 60

LEFT - Bob Sherman, sr. v.p ., A m erican N a t’l. Bk. & Tr., C hicago; Gerry Meyers, Riverside; Joyce Woods, S ecurity Bk. & Tr., Branson,
“■1o., and Jerry Meyers, pres., R iverside N at’l., Riverside, III. RIGHT - Dave Hyduke, sr. v.p., Am erican N at’l. Bk. & Tr., St. Paul, and w ife,
Kathryn; Frank Farrar, B ritto n , S .D ., and A. Paul Pederson, ch m n ., Page St. Bk., Page, N.D.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981



LE FT - James H. Moylan, secy., Nebr. Ind. Bkers., Omaha; Wes Bowen, sr. v.p ., Packers N at’l. Bk., Omaha, and Les Souba, pres., Nebr.
Ind. Bkers. and pres., David C ity Bk. RIGHT - Harold Porter, pres., State Bk. of Chester; Bud Gerhart, pres., F irst N a t’l., Newman Grove;
Don Ostrand, v.p ., F irst N at’l., Omaha, and Jerry Roe, Bank of B en ningto n.

percent, and (3) restricting access to sors, told delegates about the current
the FICB discount window to banks misconceptions about the M cFadden
or affiliates which have only limited /D ouglas A cts. He warned th a t the
access to national or regional money only banking service th a t is being
m arkets. Appeal rights will also be restricted now is retail deposit taking
authority. O v er$200 billion in annual
available to rejected clients.
New exam ination and supervisory interstate banking transactions are
approaches were discussed by John currently taking place, according to
G. Heim ann, comptroller of the Mr. Bianchi. He said “ the real issues
currency. In smaller, well-managed involved in the present discussions
banks, exam inations m ay occur less are w hether or not there should be
frequently, according to Mr. H ei­ interstate ownership of financial
m ann. He said th a t a calling program institutions and who should deter­
may be in stituted in which an mine the type and extent of interstate
examiner would visit w ith senior ownership and control—the federal
m anagem ents to discuss the b an k ’s governm ent or the s ta te s .”
performance, as well as recent
Ag Outlook
changes in the b an k ’s future plans.
“ Farm prices and income will be
The proposed visits would be used in excellent in the latter p art of this
place of frequent on-site exam ina­ decade,” according to Donald G.
Sisler, professor from Cornell U niver­
sity, Ithaca, New York. Speaking at
an IBAA general session, Mr. Sisler
M cFadden A ct
Angelo R. Bianchi, president of the said the short run will be rocky, but
Conference of S tate Bank Supervi­ the better farm ers will make it. He

advised comm unity bankers to
continue to work closely w ith their
farm custom ers.
Alex Sheshunoff, president oi
Sheshunoff and Company, A ustin,
Texas, told delegates th a t in spite of
opposite, b u t popular views, there is
still a strong need for independent
banks. He said th a t deregulation anc
the F ed ’s indecision over m onetary
policy bring about real challenges to
bankers. He added th a t “when the
governm ent deregulated, it deregu^
lated the interest expense side of the
bank. Couple th a t with inflation,
and you’re going to have high interest
ra te s .” For bankers who plan to sell
their banks, Mr. Sheshunoff sugges-,
ted picking someone you can live and"
work w ith, not ju st go w ith the
highest bidder.
The 52nd annual convention will be
held at the Sheraton W aikiki ii
Honolula, M arch 14-18, 1982.

LEFT - Richard Berglund, exec, v.p ., Iowa Ind. B krs., Des M oines; Bob Wingert, exec, d ir., Ind. Com m . Bkrs. of III., S p rin g fie ld ; Diane
Berglund, secy., Iowa Ind. of B krs., Des M oines, and James P. Thomas, exec, m gr., Ind. Bkrs. of C olorado, Denver. RIGHT - Marvin
Loosbrock, pres., St. Bk. of Lism ore, M n.; L.B. Eickhoff, pres., A drian St. Bk., A drian, M in n.; Marlene and Tom Long, v.p ., F irst N at’l (
S ioux F alls, and Sumner Malmquist, v .p ./c a s h ., F irst St. Bk., Rushm ore, M inn.

for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis




LEFT - Chuck Leffler, pres., B a n k o f S w anton, N ebr., and w ife , Hermine, and Roger Hegarty, pres., F irst N a t’l. Bk., St. Joseph, and w ife,
Jessamine. RIGHT - Jack Marget, pres., F irst St. B k., W ebster C ity, la.; Louise and Tom Hay, pres., S ecurity St. Bk., Casey, la.; Esther
" Sarnett, G uthrie Co. St. Bk., G uthrie Center, la.; Mary Margret Marget, W ebster C ity, and Max Roy, sr. v.p ., Drovers Bank of Chicago.



LEFT - Jim Carmody, pres., Drovers Bk. of C hicago, and Mr. and Mrs. Bill Haesemeyer, ch m n ., Central St. Bk., State Center. CENTER Herman Kilpper, pres., B ankersT r. C o., Des M oines, and pres, of Iowa Ind. B krs., and w ife, Jean; Grace and Ed Tubbs, pres., Iowa Bkrs.
^ssn. and pres., M aquoketa St. Bk., M aquoketa, la. RIGHT - John Crotty, sr. v.p., Drovers Bk. of C hicago, and Mel Kupka, pres., First
'C o m m u n ity Bk. & Tr., Traer, la.

LEFT - Carolyn Gerber, O shkosh, W is.; Jack King, ch m n ., Valley Bk. of K a lisp e ll, M ontana, and w ife , Almeda; Bob Sipple, adm. v.p.,
\m e rica n N at’l. Bk. & Tr., St. Paul, and w ife , Brownie. RIGHT - Sarah Rickert, daughter of Bill and Mae Rickert of N a t’l. Bk. of W aterloo,
"extends greeting to fa m ily frie n d , Bob Ralston, pres., F irst N at’l., W est U nion, la.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Fed announces check fee schedule
H E Federal Reserve Board recently
announced its fee schedule for check
processing services, to be effective A ugust 1
when the services are opened for all
depository institutions. The announced fees
generally are about 11 % higher than those
announced tentatively last A ugust. The Fed
said the increase reflects higher costs for
shipm ents between offices in its effort to
reduce float, the im pact of inflation on Fed
costs, and an increase in the private sector
adjustm ent required by law to be added to its
basic costs to offset taxes and money costs
incurred by the private system .
The private sector adjustm ent, initially
pegged a t 12%, was raised by the Fed after
comments from the ABA and individual
banks, to 16%. It is anticipated th a t the

entire fee schedule will undergo further
revision sometime early in 1982.
The accom panying chart, listing cost in
cents per item, shows the fees being charged
by the Federal Reserve Banks in Chicago
(7th), St. Louis (8th), Minneapolis (9th) and
K ansas City (10th). The highest fees
nationwide generally are posted by the New
York City Fed. The second and third highest,
except for non-machineable item s, are those
in the Chicago and K ansas City Fed offices.
The Federal Reserve has scheduled full
access to, and pricing of, the purchase, sale,
safekeeping and transfer of securities services
and the noncash collection services for
October, 1981; and scheduled full access to,
and pricing of, the currency and coin
transportation and coin w rapping services for
January, 1982.

(in cents per item)
E ffe c t iv e August I , 1981
Accepted only from in s t it u t io n s
located in the t e r r it o r y served
by the F.R. o ffic e
Mi xed

Sent To:
O ffic e






1 .99


1 .46

1 .57
1 .99


















Ì .63







ABA to Hold Marketing
Conference in Denver
The need for a more intensive m ar­
keting effort by the N ation’s banks to
meet and over­
come the aggres­
sive pressure of
competition will
be addressed by
Bankers Associ­
ation in its 1981
National M arket­
ing Conference
May 31-June 3 at
Fairm ont
for FRASER Banker, May, 1981
Federal Reserve Bank of St. Louis

Accepted at the c o lle c t in g F.R.
o f f ic e from in s t it u t io n s located in
any F.R. o f f ic e t e r r it o r y 2
Ci ty

Hotel in Denver. “ Take hom e” ideas
for bank m arketing officers and chief
executive officers are promised by
conference m anagers.
The ABA m arketing division will
give a state-of-the-art look at
electronic banking, the future role of
the bank branch system and
changing consumer attitudes towards
banks as part of the im portant topics
considered in the two and one-half
day meeting.
Conference Chairm an Richard A.
Kirk, president and chairm an of
United Bank of Denver, states “ this
year’s program will include every­
thing from sessions on employe



productivity and hum an resourc
development to future design of reta
and corporate products. A sset-liabil­
ity m anagem ent, changes in regula­
tions affecting banks, along with
segm entation advertising are add'
tional topics available to partici­
Special “ early b ird” sessions will
be “ how to ” sessions oriented to the
needs of com m unity banks.
Inform ation about the Nationà
M arketing Conference may be
obtained from Linda Parrish at the
ABA, 1120 Connecticut Ave., N .W .,
W ashington, D.C. 20036, or (20

OUTLOOK fo r United Bk. of Denver was presented by Charles R. Hazelrigg, e.v.p. RIGHT - C o m m u n ity banker forum conducted by Jerry
Schiermeyer, ch m n ., F irst N at’ l Bk., F rem ont, Nebr.; B. LaRae Orullian, pres., The W om en’s Bk., Denver, and Gary D. W hitlock, pres.,
C itadel Bk., C olorado S prings. M oderator Robert Dressel, sr. v.p ., host bank, is show n stan din g.

H ow to H old Your Own in the ’80s
H A T ’S A H EA D for the com­
m unity banker?
This was the subject of a panel
discussion a t U nited Bank of
D enver’s correspondent banking
^meeting in Denver last m onth,
eaded by Robert H. Dressel, senior
vice president of the host b an k ’s
regional banking group.
Jerry D. Schiermeyer, chairm an of
_the F irst N ational Bank & T rust
'om pany, Frem ont, N ebraska, lead
off the discussion by describing the
three m ajor areas of concern, namely
com petition, profitability, and reguation. He predicted th a t com m unity
anks th a t are well m anaged and m ar­
ket oriented will have a great future,
provided they have a level playing
field w ith other financial institutions,
le said th a t a t present Production
redit A ssociations are calling on
farm custom ers offering rates four to
five percent less than commercial
bank rates. In the Frem ont area,
CA is offering gift certificates for
ustom er referrals, which entitle the
holder to two free dinners a t a local
Mr. Schiermeyer told visiting
ankers th a t since com petition is
coming from m any sources, including
the governm ent, retail store chains,
money center banks, credit cards,
and money m arket funds, it is
ssential for com m unity banks to
define their m arket and offer superior
Federal Reserve Bank of St. Louis

service. He added th a t future
legislation should be dictated by the
m arket and not act as a protective
device. Otherwise, he said, com m un­
ity banks will continue to lose
deposits to non-bank financial
B. LaRae Orullian, president of
The W om en’s Bank in Denver, told
delegates th a t her goals include
defining the m arket and tailoring
services to fit th a t m arket. She said
th a t she was not concerned with
commercial banks and savings and
loans competing with each other, but
the money m arket funds continue to
be a m ajor th reat. The shortage and
quality of personnel is growing due to
the com petition from Denver-based
energy companies, she added.
Concluding her rem arks, Ms.
Orullian said it is costly to comply
with all of the new and changing
regulations. And , in spite of the fact
th a t regulatory authorities are trying
to make all banks look alike, she will
continue to offer unique services th a t
will be profit-oriented.
Gary D. W hitlock, president,
Citadel Bank, Colorado Springs, and
the rem aining member of the panel,
said “ the new competition will force
us to define our m arket, build our
services, and price them according­
ly .” He added th a t in his opinion
deregulation is a m yth, and the only
thing th a t will be deregulated is

interest in deposits. In spite of the
phase out of Regulation Q, Mr.
W hitlock said th a t m aybe earnings
will not suffer because the phase-out
will force comm unity banks to
analyze costs and price services
accordingly. B etter planning, better
budgeting, and greater professional­
ism will be needed in the 1980s,
according to Mr. W hitlock.
World Trade
Charles R. Hazelrigg, executive
vice president of the host bank, told
delegates th a t the world of banking is
changing rapidly, and the Rocky
M ountain region in now one of the
fastest growing areas due to
im portant energy projects. C urrent­
ly, he said, there are at least ten loan
production offices in Denver includ­
ing eight out-of-state and two foreign
Referring to the defeat of
branching in Colorado last fall, Mr.
Hazelrigg said United Bank contin­
ues to support branch banking in
Colorado in order to compete on a
level playing field. He added th a t
interstate banking m ay produce
branching within the state.
America today offers great oppor­
tunities for foreign investors, accord­
ing to Mr. Hazelrigg, because it is
politically stable and has great
resources. Bankers are in position to
help the nation by creating a modern
banking system , he concluded.
Additional panels were featured on
hum an resource development, bank
regulation, and lending. Key spea­
kers from outside the bank included
Sanford Rose, New York economist,
and Robert Metz, colum nist for the
New York Times.
Northwestern Banker, May, 1981

We take the foreign intrigue
out of international banking.
We’ve simplified international banking
services for our correspondent banks and their
customers. For example, instead of dealing
with one person when you open a letter of
credit, and a different person the next day,
you deal with one individual. An international
specialist who handles your letters of credit
and collections from beginning to end.
Our bankers make every aspect of

international banking easier. They untangle
the complexities of trade finance, foreign
payments and money transfers, foreign
exchange, and more for you and your
Take the mystery out of international
banking. Call Bob Sherman, Correspondent
Banking Division or Jerry Langley, international
Banking Division at (312) 661-5000.

American National Bank
and Trust Company of Chicago

33 N. LaSalle 6 0 6 9 0 /LaSalle at W acker/222S. Riverside P laza/(312)661-5000
Branch offices in London and Cayman Islands. International offices in Argentina, Brazil,
Colombia, Germany, Holland, Hong Kong, Mexico. Peru and Singapore.

Member F.D.I.C.
Federal Reserve Bank of St. Louis




New Oak Brook Director
Joe F. H anauer, senior vice
president of Coldwell B anker’s real
estate operations, has been elected to
the board of the F irst Security Bank
of Oak Brook.


Fed Approves Insurance

J. D. Lem m erm an, pres., M on m ou th
W. J. Hocter, exec. v.p., Chicago

McGreal Elected President of Evanston Bank
H E E vanston Bank has elected
Michael J . McGreal president and
chief operating officer, according to
an announcem ent made by Richard
C hristiansen, chairm an of the board.
Mr. McGreal has previously served
gas executive vice president of the
bank for the p ast four years.
M r. Christiansen had served as
both president and chairm an of the
board and relinquished the presiden­
tial title to Mr. McGreal.
Mr. McGreal started his banking
career in 1954. He joined the
E vanston Bank in 1975 and was
elected executive vice president in
1976. He graduated from Loyola
U niversity with a bachelor of science
degree in economics in 1962.

irubaker Elected President
John E. B rubaker has been elected
president of the F irst N ational Bank
B rubaker
oined the bank
in 1974 as vice
president in the
lending division,
and in 1976 was
Elected executive
and assistan t to
the president. He
succeeds W alter J E " BRUBAKER
ftt. Lohm an, who continues as
chairm an of the board and chief
executive officer.

First Galesburg Promotions
Recent prom otions a t F irst G ales­
burg N ational Bank include Patricia
A. M athers to assistan t vice
president, Sydney G. Brady to tru s t
pfficer and M arsha K. Ferris to
a ssista n t tru s t officer. The announce­
m ent was made by Richard M .
Bishop, president.
M rs. M athers joined the bank in
|1974, and gained officer sta tu s in
1977. M rs. Brady joined in 1974, and
Federal Reserve Bank of St. Louis

is a graduate of Sweet Briar College.
Ms. Ferris joined F irst N ational in
1969 as a tru s t secretary.

Naperville Appointment
Steven A. Irvin, president of the
Naperville N ational Bank and T rust
appointm ent of Richard A. D aven­
port to vice president and cashier. He
joined the bank in 1976 as a part-tim e
teller. Mr. D avenport is a graduate of
the College of D uPage, w ith a degree
in financial m anagem ent.

New Farmer City Director
F. Dick Maxwell, senior vice
president and tru s t officer of Farm er
City S tate Bank, has been elected to
the board of directors. M r. Maxwell
joined the bank in 1965, and is a
graduate of Illinois S tate U niversity.

Advanced in Bloomingdale
Eugene C. E rnsting, chairm an of
Bloomingdale S tate Bank, has
announced the prom otions of Thom as
L. B a tt to vice president and
comptroller and Darlene E. Mensching to cashier.
Mr. B a tt joined the bank in 1974
and was previously comptroller and
cashier. Ms. M ensching has been an
employe of Bloomingdale S tate since
it opened in 1971, and was previously
assistan t cashier.

New Facility Approved
An application to FD IC by
N orthw est T rust & Savings Bank of
A rlington H eights to establish a
facility in the H eights Plaza Center in
A rlington H eights has been a p ­

Joins First National
Steven F. Gersch has joined F irst
N ational Bank of Skokie as a
commercial officer. Mr. Gersch has a
BS degree in finance from the
U niversity of Illinois.

An application for federal deposit
insurance by the M unicipal T ru st and
Savings Bank of Bourbonnais for
capital accounts totaling $2 million
has been approved.

1981IBA Group Officers
Group 1: p r e sid e n t-J o se p h J . O livieri,
ch m n . & p r e s ., E a s t S id e B a n k & T r u st C o.,
C hicago; v ic e pres. - K en n eth J . O zin g a , e .v .p .,
C learing B a n k , C h icago, an d B e tte B .
D a n ie ls, v .p ., A m erican N a tio n a l B a n k &
T r u st C o ., C h icago; se c re ta ry -W illia m C.
M itc h e ll, c h m n . & p r e s ., L ak e Sh ore N a tio n a l
B a n k , C hicago; trea su rer-R o b ert K . B ehr,
p r e s., F ir st S ta te B a n k o f C h icago.
Group 2: p resid en t-C h a rles W a term a n ,
v .p ., S o u th H o lla n d T r u st & S a v in g s B ank ;
v ic e p r e s.-N e il B a ch , p r e s., B a n k of P o n tia c;
se c y .-tr e a s.-G e n e M isch k e, p r e s., C olonial
T r u st & S a v in g s B a n k , P eru.
Group 3: p r e sid e n t-L e R o y M a ttis o n , c a s h .,
K ane C o u n ty B a n k & T ru st Col, E ibu rn ; v ic e
p r e s.-J o h n J . R iord an , p r e s., C o u n try sid e
B an k , M o u n t P rosp ect; se c y .-tr e a s.-R o b e r t
E. L aw ler, p r e s., T o llw a y A r lin g to n N a tio n a l
B an k , A r lin g to n H e ig h ts .
Group 4: p r e sid e n t-J a y V an P a em e l, p r e s.,
C olona A v e n u e S ta te B a n k , E a s t M oline; v ice
p r e s .-J . P eter J e ffr e y , p r e s., Illin o is N a tio n a l
B a n k & T r u st C o ., R ockford; s e c y .- t r e a s .C harles S h e e sle y , p r e s., S ta te B a n k o f O rian.
G roup5: p r e sid e n t-E u g e n e S e y b o ld , e .v .p .,
N o rth A d a m s S ta te B a n k o f U rsa ; v ic e
p r e s.-R o b e rt C. Chip m an , a s s t ,
c a s h .,
F arm ers
S ta te
T r u st
C o.,
J a c k so n v ille; se c y .-tr e a s.-H a r o ld D . W h itte n ,
e .v .p ., M o n tg o m ery C o u n ty N a tio n a l B a n k ,
H illsb oro.
Group 6: p r e sid e n t-D o n a ld R . T h o m a s,
p r e s., F arm ers S ta te B a n k o f L ew isto w n ; v ic e
p r e s.-W illia m F . H ein h o rst, p r e s., P eo p les
S ta te B a n k , M an ito; s e c y .-tr e a s.-C h a r le s
K arp ow icz, v .p . & c a s h ., S o u th S id e T r u st &
S a v in g s B a n k , P eoria.
Group 7: p r e sid e n t-D a v id L . M u sg r a v e ,
p r e s., F ir st N a tio n a l B a n k , R ob b in so n ; v ic e
p r e s.-O tto T h o m a s, p r e s ., F ir st N a tio n a l
B an k of D a n v ille; s e c y .-tr e a s.-J e r r y S ta n le y ,
p r e s., In g ra h a m S ta te B a n k .
G roup8: p resid en t-G arry G . G arlish , p r e s.,
B a n k o f C henoa; v ic e p r e s.-R a n d a ll A .
K illeb rew , p r e s., F ir st N a tio n a l B a n k of
P etersb u rg; se c y .-tr e a s.-R o b e r t W . A sh b a u g h , e .v .p . & c a s h ., C itizen s B a n k o f
E d in b u rg.
Group 9: p r e sid e n t-J im S w en ey , p res. &
c h m n ., S ta te B a n k of C ollin sville; v ice
p r e s.-D a v id V o g t, p res. & tr. o ff., F irst
N a tio n a l B an k , C olum b ia; s e c y .-tr e a s .-T o m
M a cia s, v .p ., F ir st N a tio n a l B a n k , W ood
R iver.
Group 10: p resid en t-G era ld K F reezor,
p r e s .,
P eo p les
B ank
o f M arion;
v ic e
p r e s.-M ich a el T r a v elste a d , p r e s ., D u q u io n
S ta te B ank ; se c y .-tr e a s .-J o h n E d g a r, p r e s.,
F ir st N a tio n a l B a n k , A v a .
Northwestern Banker, May, 1981


1981 Annual Meeting

Association for Modern
Banking in Illinois
May 13-15
Marriott’s Lincolnshire Resort
H E 1981 A nnual M eeting of the Association for M odern Banking in Illinois will be
held May 13-15 a t the M arrio tt’s Lincolnshire Resort. A thletic activities will
include golf and tennis, and the program will include several noted speakers,
m ulti-media presentations and films, luncheons, the annual AM BI reception, the
annual AM BI banquet and reports.



AM BI C hairm an

Wednesday, May 13
Golf and tennis day. Golf coordinator: David W ebber, v .p., H arris T ru st &
Savings Bank, Chicago. Tennis coordinator: Robert Fazzini, 2nd v.p.,
Continental Illinois N atl. Bank & T ru st Co., Chicago.
Loop Bank Reception
Reception concludes
Thursday, May 14

A.M .



Continental breakfast
Business meeting
Call to order: Charles L. Daily, chairm an, MidAmerica Bank & T rust Co. of
Edgem ont, E a st St. Louis.
M ulti-m edia presentation.
Speaker: Louis Rukeyser, host of P B S ’s Wall Street Week.
A djourn
Speaker: George J . V ojta, exec, v .p ., Citicorp, New York City.
Business m eeting reconvenes
Speaker: Jam es W. H augh, Peat, Marwick, Mitchell & Co., Chicago.
Speaker: M .J. Swords, p re s.,M .J. Swords A ssociates, Inc., K ansas City,
Film: “ The W illmar E ig h t’’
A djourn
AM BI reception
AM BI annual banquet
Floor show- Dave M ajor and the Minors
Friday, May 15


AM BI regional breakfast
Business m eeting reconvenes
M ulti-media presentation
Report of the Treasurer: A.D . Van M eter, J r., pres., Illinois N atl. Bank,
AM BI Leadership Report: Charles L. Daily, chairm an, AM BI; chairman,
MidAmerica Bank & T ru st Co. of Edgem ont, E a st St. Louis.
Jam es B. W att, pres., AM BI
Legislative Report: William D. Olson, v .p ., Government Relations, AM BI.
A M B I/PA C Report: David E. Connor, chairman, A M B I/PA C ; pres.,
Commercial N atl. Bank, Peoria.
Report of the N om inating Committee: Theodore H. Roberts, chairman,
AM BI Nom inating Committee; exec, v .p ., H arris T rust & Savings Bank,
Remarks: Incom ing chairm an of AM BI.

for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis

P resident

Illinois News




Speaker: Honorable H enry J . Hyde, U .S. Congressman; member House
Committee on Banking, Finance and U rban Affairs.
Conversation break
Speaker: Owen Carney, director, Investm ent Securities Division, U.S. Comp­
troller of the Currency, W ashington, D.C.
Speaker: Raym ond V. Ja n u tis, A rthur Anderson & Co., Chicago.
Closing luncheon
Speaker: Honorable Alan J . Dixon, U.S. Senator, Senate Committee on
Banking, Finance and U rban Affairs.
Final adjournm ent
Golf and tennis day


Com pany’s chairm an, Gavin Weir,
announced the following promotions:
Marie Bauchwitz to assistan t vice
president, Stanley Green to data
processing officer, Joseph R. Miles to
assistan t cashier and Steven Ward to
assistan t tru s t operations officer.
Ms. Bauchwitz joined the bank in
1956 as a teller. She was prom oted to
assistan t cashier in 1971. Mr. Green
joined the bank in 1966 in the data
processing departm ent. Mr. Miles
joined Chicago City Bank in 1974 as a
collector. Mr. W ard joined the bank
* * *


EAW AY National Bank of
Chicago, the second largest
m inority-owned bank in the nation,
recently advanced Constant W.
N atson III to vice president and audtor, it was announced by Ernest T.
Collins, board chairm an.
Mr. W atson joined the bank in
1978 as internal auditor, and is a
g r a d u a te of Roosevelt U niversity
where he earned a BSBA degree. He
previously worked for Federal
Reserve Bank of Chicago.



M id-City N ational Bank is celebra­
ting its 70th anniversary this year,
standing at the same corner in
Chicago th a t it did when founded in
1911. W ith $210 million in assets,
€M id-City has provided financial
strength to countless W est Side
businesses through good tim es and
Under the leadership of President
€Renneth A. Skopec, the bank is
com m itted to continuing this tra d i­
tion of com m unity involvement in
* * *
Chicago City Bank

Federal Reserve Bank of St. Louis

T rust

Bank of Ravenswood in Chicago
last m onth began offering a “ money
system ’’ account with a yield rate tied
to Treasury bills and the general
money m arket. I t will be changed
m onthly. The rate for April was
11.14% .
Senior v ice1president John Van
Winkle said custom ers may enter the
“ money system ’’ with a minimum of
$2,500, which goes toward purchase
by the bank of large blocks of
Treasury bills w ith 35-day m aturity
or less. Custom er accounts are
insured up to $100,000 under the
b ank’s FD IC coverage. Customers
may access the account by check for
The Chicago Bank of Commerce partial withdrawal and may liquidate
has announced the election of their investm ent at any time.
Barbara F. Potter to director of
* * *
m arketing, according to Robert G.
Williams, chairm an. Ms. P o tter m ost
Thom as O. Leigh, chief adm inis­
recently served as m arketing officer trative officer of O’Hare Bank of
at M erchandise N ational Bank of Chicago, has announced th a t the
b ank’s board has approved a
Also announced were the elections m ortgage money program offering a
of Eleanor B. Lafrentz to assistan t 14% rate, substantially below
secretary to the board, Linda A. Chicagoland’s average. Mr. Leigh
McCoy to personal banking officer said th a t, since the bank is an equal
and Sandra M. Wozniak to consumer housing lender, the funds are not
lending officer.
restricted to present custom ers, but
* * *
are confined to owner-occupied
Janet D. Patterson, president of
the Lawndale T rust and Savings D.J. Callahan Heads Lending
Bank of Chicago, has announced the
Daniel J. Callahan, III, president
election of Thomas E. Skolar, Jr. as
The Riggs N ational Bank of
vice president in the commercial
D .C ., was elected to
banking departm ent.
Mr. Skolar began his banking become the next chairm an of the
career in 1967 in W isconsin. Prior to American Bankers Association com­
joining Lawndale Bank, he was mercial lending division.
D. Bruce Adamson, chairm an and
president of the Bank of L akehurst in
president of F irst National Bank &
W aukegan, 111.
T rust Company, Joplin, Mol, was
* * *
elected vice chairman.
The elections took place during
Gene R. Hill has been elected to the
board of Central N ational Chicago A B A ’s 33rd National Credit Confer­
Corporation and Central National ence held recently in Chicago. Mr.
Bank in Chicago. The announcem ent Callahan and Mr. Adam son will
was made by Jackson W. Smart, Jr., assum e their new posts during the
chairm an,
president and
chief ABA annual convention, October
3-7, in San Francisco.
executive officer.
Northwestern Banker, May, 1981

Balloons Signal Beginning
For First Bank Robbinsdale •

R. E. G andrud, près., G lenwood
T. L. Jeffers, exec, v.p., M inneapolis

Richfield Bank Breaks
IC H F IE L D Bank and T rust Co.
will be building a new detached
facility in W est Bloomington. Plans
are to have the facility open in the
fourth quarter of this year to serve
the principal trade area of W est
Bloomington. The structure will
encompass some 5,040 square feet of
office space and have, initially, three
drive-up lanes with expansion to five.
The facility will be a full service
location for the Richfield Bank,
offering safe deposit boxes, 24-hour
autom ated teller services, new
accounts, full loan servicing and
Saturday banking hours.
The structure will be located in the

Instead of the traditional shoveling
of dirt, F irst Bank Robbinsdale
released more than 100 helium-filled
balloons to signal the beginning of it^Q
new main bank building. Located at
40th and W est Broadway in
Robbinsdale, the two-story bank will
provide a total of approxim ately
42,000 square feet of banking spac<^
spread over four levels.
According to Ken Sheehan,
president, the bank expects to occupy
its new facility in early 1982. “ We are
Pemtown Office Park, along with
including an inside 24-hour tellei#
retail stores and office buildings. The
machine, six drive-up lanes and a
design of the brick building will take
significantly expanded safe deposit
advantage of passive energy conser­
v a u lt,” Mr. Shehan said. He added
vation, and will be adaptable to
the b an k ’s present six-lane drive-in
future solar energy technology.
facility located a t 42nd and W est#
The main floor will have three
Broadway will continue to operate
offices, a conference room and seven
after the new bank opens.
teller windows. The safe deposit vault
The land on which the bank will be
will have a capacity for 2,200 safe
located was acquired by the
deposit boxes. A mezzanine level will
Robbinsdale H ousing and R ed ev el#
offer facilities for training and an
opm ent A uthority and sold to the
employe’s lounge.
bank as p art of the c ity ’s efforts to
A rchitects of the building are
revitalize its core area. General
Dykins and Associates of Blooming­
contractor for the project is Sheehy
ton. The general contractor is Construction Co.
Adolfson and Peterson.

S.W. Foss Elected to Board

BANK O FFICERS, d ire cto rs and s ta ff jo in e d p ro m in e n t m em bers of the co m m u n ity for
gro un dbre aking cerem onies held in W est B lo o m in g to n recently.

S.W . “ S y ” Foss, president of the
Bank of W illmar, has been elected tq£
the board of Bremer Service
Company, Inc., which provides staff
services for the O tto Bremer
Company group of 29 banks and 38
bank-related holding companies ii£
M innesota, N orth D akota and
W isconsin.
Mr. Foss was chosen to complete
the unexpired term of director-atlarge T.A . “ T ed” Solheim, r e t i r i n g
president of the American Bank &
T rust Co. of M inot, N.D.
Mr. Foss began his banking career
in 1948, and joined the Bremer group
in 1964 as vice president of Citizen^®
State Bank in Brainerd. In 1970 he
assum ed the presidency of W ashburn
State Bank in W isconsin, and in 1978
succeeded Oscar Sm ith as president
of the Bank of W illmar.

New Big Lake Director

ARCHITECT’S draw ing of R ich fie ld Bank and T ru s t’s new detached fa c ility to be erected at
9320 Ensign Road in W est B lo o m in g to n .

for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis

Thom as D. Hayes of the law firm of
Sm ith, Pringle and H ayes, M onticel^
lo, has been elected a director o r
Citizens S tate Bank of Big Lake.
Also a t Citizens S tate, P a tt
A nthony has been elected custom er
service officer. M s. A nthony joinerW
the bank in 1978.


Michael Mishou, Assistant Vice President, Southern Metro Area, Wisconsin, Michigan — Upper Peninsula (612) 291-5573

“Part of my job is to give you ideas
that make you think twice.”
“ Are you using lock box accounts to reduce
float? Are you minimizing the float in your
correspondent account? How much could you
save by a cash management reporting system.
“ Raising questions like these is part of my
job. The other part is providing the answers.
My Correspondents look to me for new ideas
backed by concrete facts. Facts that will make
you think twice.
“ To be the best possible resource, I ’m
constantly searching for new approaches to
problems . . . asking questions of my colleagues
and customers . . . getting out into the field.
“ When complex questions arise, I can call
upon the full resources of First Bank Saint Paul
to answer them.
Federal Reserve Bank of St. Louis

“ As a result, our Correspondents know
they can rely on us for the service they need to
compete in today’s fast-changing banking
“ When they need a second opinion, they
think o f the First.”


First Bank
Saint Paul

Correspondent Bank Division

We do our job.
You get the credit.
The First National Bank of Saint Paul • Member FDIC
Northwestern Banker, May, 1981


Twin Cities

IRST Bank Minneapolis has a n ­
nounced theprom otions of Robert
A. Pitner and
Bernard E. Conlin to senior vice
presidents. Mr.
Pitner, formerly
and director of
m arketing, join­
ed the bank in
1978. Mr. Conlin
is now head of
group, and joined F irst Bank in 1958.
In the correspondent banking
departm ent, Jerome R. Larson,










for FRASER Banker, May, 1981
Federal Reserve Bank of St. Louis

Twin Cities m etro area to the national
banking east division.
Elected vice presidents at F irst
Bank are Melvin O. Vogel, personal
tru st portfolio m anagem ent; Janet J.
Smith, personal banking; Francis R.
Ziegler, agribusiness;
Dale R #
Hoganson, natural resources; Robert
G. Borgeson, m etropolitan corporate
banking; Stanley J. Gove, m etropoli­
tan corporate banking; Douglas C.
Jones, equity research, and Richard#
L. Guthart, institutional portfolio
m anagem ent.
Joining F irst Bank as officers are
Wali Naibi, assistan t vice p re s id e n t








assistan t vice president formerly
representing the northern M innesota
area, replaces Franklin L. Brosseau
as Twin Cities area correspondent
Leonard P. Kiskis, formerly
m anager, correspondent com puter
services, replaces Mr. Larson as
northern M innesota correspondent
banker. William J. Stegora, formerly
m anager of dem and deposits accoun­
ting, correspondent services, replaces
Mr. Kiskis as m anager.
Fred H. Squires has joined F irst
Bank as a vice president-correspon­
dent banking. Mr. Brosseau, assis­
ta n t vice president-correspondent
banking, is transferring from the

If you think your correspondent
Dank is stringing you along,
maybe its tim e you se\ered the ties.
Sometimes, getting the answers you need from
your correspondent banker can be a frustrating
experience. One that consumes too much of your
valuable time. And one that could contribute
to your loss of a customer.
At Midland National Bank, we won’t string
you along. Because most of our business
as a bank comes from dealing with businesses
and other banks. So, frankly, we’re willing
to put a lot of effort into making
our relationship with you work.
We’ve organized our bank
in a way that allows you to
deal directly with a decision
maker, rather than having
to go through several review
committees. Our correspondent
team is dedicated to responding to
your needs quickly. And, our
expertise with small and mid-sized
businesses puts us in a unique
position to understand your
customers’ needs.
So the next time you feel like
your correspondent bank is giving
you the business, call the Midland
National Bank correspondent team,
toll free at 1-800-752-4200.* And see
how the bank for business can
go to work to improve yours.
*In North and South Dakota, call 1-800-328-8678.

Midland national
Bank Of Minneapolis B


401 Second Ave. So., 55480 Member FDIC
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Minnesota News

with responsibility for Group A — He earned his JD degree from the
m etropolitan Twin Cities and mid- U niversity of W isconsin and h i©
w estern U nited States;
Group bachelors degree from the U.S.
B —m etropolitan Twin Cities and M erchant Marine Academy in New
eastern U nited
Group York.
Mr. Clay joined Banco in 1976 as
E —m etropolitan Twin Cities and
eastern W isconsin, and Group G — vice president of m arketing witl©
international relations and the b an k ’s N orthw estern N ational Bank of St.
Paul. He became m arketing consul­
N assau branch.
Mr. H anson has been w ith F irst ta n t a t the corporate office in 1978.
National 19 years and M r. Shepley Mr. Clay holds a bachelor of fine arts
degree from the Minneapolis College©
more than 12 years.
of Art and Design.
* * *
N orthw est Bancorporation has
W est St. Paul S tate Bank Presi­
elected D. Stephen Farley vice
president of tru s t adm inistration and dent J.
John L. Clay vice president of announced
promotion of Mel
affiliate m arketing.
Krech from a s­
sistant cashier to
assistan t
W est St. Paul
S tate in 1978
seven y ears’ ex­
F irst S tate Bank of Spring Lake Park
M r. Farley will succeed Myron C. and Signal Hills S tate Bank in W est
Carlson, who retires July 1. He was St. Paul.
previously senior vice president of
tru s t a t N orthw estern N ational Bank
of St. Paul, and has been w ith Banco Elected Vice President
Bruce J . K rupke has been elected
since 1970. Mr. Farley is vice
president-elect of the tru s t division of vice president-operations of Firs^
the American Bankers Association. Bank W illmar,
according to an
announcem ent
Midland Skyway Opens
by N. Thom as
W iedebush, pres­
M r.
began his b an k ­
M r. H anson, as head of Group 2,
ing career in 1965
has responsibility for Group I , which
a t F irst Bank
is correspondent banking in the 9th
Paynesville. He
Federal Reserve D istrict and the
joined F irst B ank
states of Iowa and N ebraska. In
W illmar in 1972 as cashier and
addition, Mr. H anson also assum ed
operations officer and has since
direct supervision of the correspon­
served in th a t capacity. Mr. K rupka*
dent bank division last m onth
holds a BS degree in business
following the resignation of Jam es T.
adm inistration from St.
Gowan as vice president and head of
U niversity.
th a t departm ent. Mr. Gowan re­
signed from the bank to accept phone Com pany and M id lan d N ational
Bank of M in n e a p o lis jo in e d w ith M iss
appointm ent as president of F irst D ow ntow n to m ark the o ffic ia l open ing of
National Bank of Chaska, which is the new Skyway between M idland Bank and Austin Appointment
Allyn C. M artinson, president of
located ju st southw est of M inneapo­ the N orth w e ste rn Bell b u ild in g s . From le ft:
George W eikert, gen. m an.; Thomas
the N orthw estern S tate Bank of
v.p. and c.e .o ., M innesota,
A ustin, has announced the appoint­
Mr. H anson’s responsibility also Madison,
N o rth w e ste rn Bell; Lisa Larivee, M iss
includes Group C—m etropolitan D o w ntow n; Harry Benson, pres, and c.e .o .; m ent of Joseph M. Collins as vie™
Twin Cities and southw est U nited Ernie Pierson, e .v.p ., M id lan d N ational president-retail banking. Mr. Collins
States; Group D —m etropolitan Twin Bank. M idland has also opened its new began his banking career in 1959 w ith
Cities and w estern U nited S tates, Skyway C onvenience Banking Center, N orthw estern S tate, with prim ary
o ffe rin g a fu ll range of con sum e r banking
responsibilities in m arketing, lendine^
and Group M —m ortgage lending.
and public relations.
M r. Shepley is head of Group 1
international banking; Neal H.
Frank, Susan L. Drake and David G.
Guimond, retail banking officers,
executive and professional banking;
Denis F. Feigenbaum, commercial
banking officer, natural resources,
and Thomas M. Dirnberger, ag ri­
business officer, credit adm inistra­
Raymond F. Good, president and
chief executive officer of M unsingwear, Inc., has been elected to the
board of F irst Bank M inneapolis.
* * *
Charles E. Arner, chairm an and
chief executive officer of F irst
National B ank of Saint Paul, has
announced a realignm ent of respon­
sibilities for several lending divisions.
These changes are p art of the
reorganization following Mr. A rner’s
election as chairm an, and the
advancem ent of Andrew G. Sail from
executive vice president to president,
which were announced several
m onths ago.
Vice Presidents Dale S. Hanson
and Richard L. Shepley have been
named group vice presidents w ith
responsibility for four lending groups

Banker, May, 1981
Federal Reserve Bank of St. Louis

W e’ll b e th e r e !
Come visit with us, ask questions, learn a little
bit more about what we have to offer.
We’ll be there — Bob Sipple, Bob Jacobson,
Don Johnson, Steve Rykkeli, Jana Kirkeby
and Bill Carlson. And we’re looking forward to
seeing you!

Don Johnson

Steve Rykkeli

Jana Kirkeby

South D akota Bankers
A ssociation Convention
May 11, 12, Sioux Falls

Bill Carlson

North D akota Bankers
A ssociation Convention
May 18, 19, Fargo

Am erican National
Bank and Trust Com pany
Correspondent Division
5th and Minnesota, St. Paul, Minnesota 55101
(612) 298-6331
Federal Reserve Bank of St. Louis


Minnesota News

Truman Jeffers Marks 20th Anniversary
With MBA By Attending a Conference!
N TH E 20th anniversary of his
work w ith the M innesota B ank­
ers Association, Trum an Jeffers ob­
served the date in typical sty le—he
attended the statew ide M arketing
Conference sponsored by the MBA
and the M innesota Chapter of the
Bank M arketing Association at the
R egistry Hotel in Bloomington. As
he does a t all such m eetings, Jeff
made sure he was available to any
members who had problems, com­
m ents or suggestions to discuss.
As the dean of banker association
executives in the upper midwest,
“ Jeff” Jeffers has a solid association
background based on direct work
with MBA members in the areas of
education and legislation. All of this,
he believes, is simple enough and only
logical. “ Our prim ary m ission,” he
stated firmly, “ is to serve the needs of
M innesota bankers in every possible
w ay.”
TV Program a First
He started on the job w ith the
M innesota
April 1, 1961, working with the
executive secretary, Kenny W ales, to
develop educational activities the
members w anted. L ater th a t year, he
worked with MBA
comm ittee
members to help develop the
association’s first television pro­
gram , the forerunner of to d ay ’s
B ankers’ Area-wide A dvertising
Program . T hat first budget of
$30,000 pu t MBA on television
through KEYC-TV at M ankato. This
approach on behalf of all members
caught on quickly and

developed into BA AP which now
serves all of M innesota, N orth
D akota, South D akota and all of
W isconsin except the Milwaukee
area, with an annual budget of

Truman Jeffers and his w ife , Leila, pictured
at a recent association, m eeting.

Education Projects Grew
While the educational approach
was being developed for MBA
members, Jeff became more involved
in preparing conferences and work­
shops. In this area he helped create
two schools th a t are front-line MBA
activities today. The first was the
M innesota School of Banking in
1966, founded at St. Olaf College in
Northfield, where the school is
still held annually. This m anagem ent
development program requires one
week of on-campus attendance each
sum m er for two years and completion

E ditor
of interim work to obtain a certificate.
Jeff is still director of the school. ^
The second school founded was the
M idwest Banking In stitu te one year
later on the M orris campus of the
U niversity of M innesota. This school
is attended by ag bankers from fiv^p
s ta te s —M innesota,
W isconsin,
South D akota, N orth D akota and
M ontana—and covers all aspects of
ag banking.
W hy the emphasis on so m a n ^
educational proj ects? “ W ell, ” reflects
Jeff, “ in the educational area we ju st
kept expanding yearly with more
offerings because our bankers said
they wanted them . As we operate,
comm ittee will sit down and define a
need and we a t MBA fulfill it. W e’ve
concentrated m any tim es on work­
shop type m eetings for small groups.
“ Our principle is to m eet th r0
educational needs of M innesota
bankers with quality program s th a t
are useful on a timely basis, at the
lowest possible cost and as accessible
as possible to every member. To dc#
this, we’re willing to travel around
the state to conserve m em bers’ time.
We have conducted anywhere from
three to 20 sessions of a workshop in
different communities to make i(#
more convenient for m em bers.”
Legislative Involvement
In the late 1960s, Jeff became more
involved in the legislative scene,
along w ith his educational activities"
He took over the responsibility for
these duties as executive staff officer
of the MBA on Ju ly 1, 1970, when
Kenny W ales left the association to
join the correspondent bank depart -

ON THE 20th anniversary of his w ork w ith the M in ne sota Bankers A sso cia tio n , Truman Jeffers (le ft), MBA exec, v.p., attended the
M arketing C onference in B lo o m in g to n where he is show n above checking over the program w ith MBA Pres. Richard E. Gandrud (center),
pres., Pope C ounty State, G lenw ood, and MBA 2nd V.P. John P. Ingebrand, pres., Kanabec State, Mora. RIG HT— Wayne Berthiau!
(le ft), who sho ulders many M BA d u tie s as a d m in istra tive v.p., discusse s an MBA project w ith Mr. Jeffers.

for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis


Are you working harder
than your portfolio?

Major tests lie ahead — for the Fed, for money
markets and for the economy. New offerings are
flooding the markets and interest rates continue to
How do you keep pace with an uncertain
market? For many banks, the answer is First Bank
Saint Paul. Our Investment Services Group has 36
full-time professionals ready to help you with the
most sophisticated investment tools available.
Our “ Blue List Bond Ticker” makes available by
computer new listings and price changes as they
occur. And the latest money market news is just a
phone call away on our Money Market Hotline.

We also have the largest inventory of municipal
bonds in this region, plus a wide variety of
government securities, repurchase agreements,
commercial paper and other money market
investments so we can tailor a program to meet your
specific objectives.
We can execute your transactions rapidly,
provide safe-keeping and give you a monthly
computer report on your portfolio’s performance.
Meet Clayton Johnson
our Assistant Vice
President. Clayton is
responsible for
Southern Minnesota
and Iowa. Give him a
call at (612) 291-5664.
He’ll be happy to
answer any questions
you may have.

First Bank Saint Paul
Member First Bank System

Investment Services Group
A Full Service Bank
Federal Reserve Bank of St. Louis

The First National Bank of Saint Paul
332 M innesota Street
Saint Paul, Minnesota55101 (612)291-5659

Member FDIC
Northwestern Banker, May, 1981


Minnesota News

m ent of F irst N ational Bank of
Minneapolis, where he is now senior
vice president and departm ent head.
Jeff was elected executive vice
president to succeed Mr. W ales.
W ith rapid changes shaping up for
banking at th a t time, some new
moves were in order. “ We used to
have a general counsel,” recalls Jeff,
“b u t no full-time legislative counsel.
In the early 1970s we expanded th a t
activity by hiring outside legislative
counsel and began participating in
the legislative process by trying to
change the usury statu tes. By 1973
we began to perceive some changes;
for example, the change in instalm ent
lending laws. Som ething was accom­
plished each year so th a t in the past
decade we really have had a radical
change in the total picture, to the
benefit of the public as well as banks
because capital was flowing out of
M innesota to the highest paying
source. Also, we were involved, of
course, with ABA at the national
level. Banks need help in interpreting
all these new laws at both the state
and national levels.”
Professional Staff
To facilitate this legislative and
interpretation of laws process, the
MBA selected a very capable,
personable attorney, John Jackson,
to join the staff full-time, a position
he still holds.
The association’s interest in
education for members has been
carried on capably by W ayne F.
Berthiaum e, MBA adm inistrative
vice president who serves as J e ff s
right-hand m an. A ssisting W ayne
in the area of handling all details for
education and convention activities is
Linda Forsheen, who has worked
closely on these activities w ith Jeff
and W ayne for several years. Doug
Ripley also assists in the educational
A nother im portant area of MBA
service is the insurance division.
MBA, says Jeff, “ offers its members
a series of group health and life plans
for bank employes —m ajor medical,
life, disability, dental and pension, as
well as property and casualty general
insurance for bank coverage, includ­
ing bonding. Out of our 760 member
banks, about 575 participate in one or
more of our group health and life
plans. This division has a staff of
seven, headed by M argaret Goff. We
also have George Celesta as an
insurance co n su ltan t.”
The operating staff is rounded out
with Dan Arbach as communications
for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis

Asked to comment on changes he
has noted over the years, Jeff states,
“The long-term , m ajor one is the shift
to a technological based banking—
ED P, ACH, internal autom ation,
ATM s —everything now is highly
autom ated. The current deregulation
efforts are a m ajor move, as well as
paym ent of interest on checking.
Some issues, such as branching, tend
to be divisive of mem bership, so we
have proposed compromise legisla­
tion. We ju st have to be alert to the
changing needs of this profession.”
The 20th anniversary interview
concluded as Jeff turned to some
w aiting MBA members with his
usual friendly smile to discuss an
issue of im portance to th em .

Richfield Promotions
M artin Chorzempa, president,
Richfield Bank & T rust Co., has
announced the following promotions:
W ayne Leboeuf to senior vice
president-lending and m a rk e tin g s
Monroe Stenerson to vice president,
G. M ark W illiams to assistan t vice
president-consum er banking, W arren
Leininger to cashier, M. Sue Kapolka
to auditor and Tim othy H. Perry tqp
data processing m anager.

Worthington Promotions
The board of F irst Bank W orthing­
ton has elected Patrick J . Corrigan
and Paul M eans to assistan t vice
presidents, Elden W. Ranee, presi­
dent, has announced.









M r. Corrigan is a graduate of St.
Thomas College, St. Paul. He began
his banking career with F irst Bank
System in June
1979 as a
m anagem ent trainee and was prom o­
ted to commercial loan officer in
December 1979.

Joins Bank of Willmar
Sy Foss, president of the Bank of
W illmar and T rust Company, has an­
nounced the ad ­
dition of Kevin
Dahl as assistan t
cashier. Mr. Dahl
graduated from
the U niversity of
W isconsin, River
Falls, w ith a
degree in busi­
ness and econo­
mics. Prior to
coming to W ill­
m ar, he was employed as an examiner
w ith the audit departm ent of the
Bremer Service Co. of St. Paul.

Mr. Leboeuf joined the bank in
1979 as vice president. M r. S ten erso i^
has been with the bank since 1954 ancr
will be in charge of the new detached
facility. Mr. Leininger joined the
bank in 1979 as auditor. Ms. Kapolka
is a graduate of the U niversity o ^
Delaware, and Mr. Perry is a
graduate of S tate U niversity of New

Fed Approves Application


The Federal Reserve B ank of
Minneapolis has approved the
application by Beardsley B ancshares,
Inc., to become a bank holding
company through the acquisition o ^
the Security S tate Bank of Beardsley.


C a p ita l
F in an cial Corp. I



C a p ita l
N o rth w e s t





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Lease Northwest, Inc.
Affiliated with Northwest Bancorporation ------

Financial Corporation
An Affiliate of Northwest Bancorporation
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Minnesota News

254 Attend Minnesota Marketing Conference
H E CH AN GING face of the
banking public, ranging from
demographics to life styles to
economic needs or dem ands, was
explored in depth by a talent-loaded
array of speakers at the M arketing
Conference sponsored at the Registry
Hotel in Bloomington last m onth by
the M innesota Bankers Association
and the M innesota Chapter of the
Bank M arketing Association. The
quality program attracted 254
Truman Porter, president of the
BMA chapter and a member of the
M arketing Conference planning com­
m ittee, set the tone for the m eeting
with his opening rem arks. Mr.
Porter, who is vice president-retail
banking a t Midway N ational Bank,
St. Paul, referred to the beneficial
m arketing conferences of the past
several years when Jack W hittle and
Alex Sheshunoff had presented vital
program s on up-to-date m arketing
needs and high-perform ancebanking.

“ Now th a t we’ve been ‘W hittle-ized
and Sheshunoff-ed,’ ” said Mr.
Porter, “ our next m ajor step is
‘bran d in g .’ T hat is, puttin g th a t
particular ‘b ran d ’ on your bank th a t
a ttra c ts people to do business with
you instead of w ith the next
institution. We are looking more and
more to personal, one-stop financial
Conference Chairperson Elizabeth
Bennett, of N orthw est Bancorporation’s m arketing departm ent in
M inneapolis, introduced the morning
speaker, Dr. Roger D. Blackwell,
professor of consumer research at
Ohio S tate U niversity in Columbus,
Ohio. Dr. Blackwell’s graphic slide
and chart presentation on the
segm ents of the public from various
analytical viewpoints were instruc­
tive. His extensive research makes
this particular presentation a valu­
able one for any banking audience
since it involves w hat a bank has to
sell, and the people it is trying to sell.

E ditor


R. Scott Jones, another planning
committee member and chairm an of
the MBA public relations subcom ­
m ittee, introduced the afternoon^
speakers. Mr. Jones is president of
the Goodhue County N ational Bank
in Red W ing.
John Forney, president of IntraM ark, Inc., M inneapolis, discussecj^
the subject,
“ E stablishing
Identity for Your Bank . . . Why
I t's Im portant and How to Do I t . ’’
Mr. Forney and his associates left
a M inneapolis advertising a g e n c y
a few m onths ago to organize their
firm th a t is dealing with independent
banks nationwide to assist them in
establishing such a forceful identity
and to compete more efficiently i t#
the m arket w ith other banks.
David Griebel, assistan t vice
president, corporate m arketing, F irst
Bank M inneapolis, had an excellent
slide preparation on w hat c o n stitu te:#
a m arketing plan, why one is needed,
how to draw it up, how to use it, and

MARKETING CONFERENCE plan nin g co m m itte e in clud ed , from left: Robert Koenke, a.v.p. & m ktg. o ff., N atl. C ity Bank, M inneapolis;
Elizabeth B ennett, m ktg. d iv ., N o rth w e st B an corp oratio n, and conference chairperson, and Trum an Porter, v.p ., M idw ay N a tl., St. Paul.
Mr. Porter is pres., Ms. B ennett is 1 st v .p ., and Mr. Koenke, 2nd v.p. of the M in ne sota Chapter of BM A, co -sp o n so r of the conference w ith
the M BA. RIG HT— Two a d d itio n a l planning co m m itte e m em bers were Galen Pate, pres., Signal H ills State Bank, St. Paul, and R. Scott
Jones, pres., G oodhue Co. N a tl., Red W ing. Mr. Pate represented the MBA bd. of dir. and Mr. Jones is chm n. of the MBA p u b lic relations,
sub co m m itte e .

SPEAKERS in clud ed , from le ft: David Griebel, a .v.p .-co rp . m ktg ., F irst Bank, M p ls.; Dr. Roger D. Blackwell, Ann W hite and John Forney.

Banker, May, 1981
Federal Reserve Bank of St. Louis

Minnesota News

then how to review, assess and revise
^ t after it is in action.
A nn W hite, president of Ann
W hite & Associates in Irving, Tex.,
gave a p a rt of her presentation th a t
normally is an all-day sem inar for
selected bank or corporate staff
members. Titled, “ Professionalism /
B anking’s Edge Over the Com peti­
tio n ,’’ it centered on those aspects of
Dersonal looks and conduct th a t
E ffe c t relationships with a custom er.
To stress the im portance of looks in
front of a custom er, she said, “ 93 % of
your to tal image consists of visual
^ ig n a ls and only 7% verbal.
P e rc e p tio n is reality to m ost people.”
The concluding speaker was MBA
President Richard E. G andrud,
president of the Pope County S tate
JBank in Glen wood. His topic was the
P f B A advertising program and w hat
it is doing for the m em bership.


Bonanza State Bank Completes New Building
H E NEW Bonanza S tate Bank
was completed recently, and is
now in service in Brooten. Originally
chartered as the Bank of Brooten, the
name of the bank was changed in 1980
because of its location in the center of
the Bonanza Valley irrigation area.
The bank was started by Jo h n
Bohmer as its president in 1894, who
remained president for 60 years,
longer than any other bank president
in American history. In 1954 his
grandson, also John Bohmer, became

president of the bank and holds th a t
office today. Vice President Edwin
Sandvig began work in 1915. Mr.
Sandvig recently celebrated his 87th
birthday and 65th year of employ m ent w ith the bank,
The new building is located in the
center of Brooten, on the corner of
Highway 55 and Central Avenue, and
has a 20 car parking lot for
custom ers. The unusual architecture
was designed by Vosejpka Associates
of Chaska.

A.C. Peterson to Retire
^ Allan C. Peterson, who purchased
controlling interest in the F irst
National Bank in Blooming Prairie in
1967, has announced th a t he will
R e tire as president. Donald E.
P lo rr is o n was elected president of the
bank. Mr. Peterson was re-elected
chairm an of the board.
M r. Peterson began his banking
^ .areer with F irst N ational in 1956. He
was elected cashier in 1960. Mr.
Peterson purchased the bank on the
25th anniversary of the death of his
father, C.A. Peterson, who was the
ormer president and chairm an of
4 irst N ational. C.A. Peterson had
been associated w ith the bank for 35
Mr. M orrison joined F irst N ational
£ n 1967 as vice president and cashier.

Elected at Cloquet
F irst Bank Cloquet has elected
Phillip B. Johnson vice president and
Mr. Johnson be­
gan his banking
career in 1970 as
^ m ag representa­
tiv e
F irst
M ont. He was
m ost
mployed as lia4 on credit officer
for F irst Bank
System , M inneapolis, since 1979.
Mr. Johnson holds a BS degree in
eco n o m ics from M ontana S tate
U n iv e rs ity .
Federal Reserve Bank of St. Louis

B O N AN ZA State Bank com p le te d its new b u ild in g recently, and held open house to
celebrate the occa sio n. The bank is located in the center of Brooten.

J.J. Kigin Retires

Marquette Promotions

Jerry J . Kigin, chairm an of
N orthw estern Bank & T rust Co. of
St. Cloud, has
retired after 40
years in banking.
Mr. Kigin began
his banking car­
eer in 1941 at
National Citizens
Bank in M ankato
as a messenger.
He joined N orth­
G uaranty
S tate Bank & T rust Co., in 1948 to
s ta rt the instalm ent loan departm ent.
He was elected president in 1955 and
chairm an in 1979.
N orthw estern
Agency, Deborah Gretz has been
prom oted to agency m anager. Ms.
Gretz joined the agency in 1980 as
m anager trainee.

The M arquette S tate Bank of
Columbia H eights has announced the
promotion of Eleanore A. Decowski
to operations officer and Eileen S.
Palm from teller supervisor to
operations officer/tellers.



Ms. Decowski joined M arquette
Bank in 1958 in the bookkeeping
departm ent. Ms. Palm started her
banking career in 1962, joining
M arquette in 1977 as a teller.

Joins F&M of Alpha
Farm ers and M erchants State
Bank of Alpha has announced th a t
Douglas L. Allerdings has joined the
bank as a m anagem ent trainee. Mr.
Allerdings is a graduate of Pipestone
Vocational Technical In stitu te.

Ogilvie Seeks Changes
Ogilvie S tate Bank has a hearing
scheduled regarding its application to
amend its charter to change the name
of the bank to Citizens S tate Bank
and to change its location to Milaca.
Northwestern Banker, May, 1981


J .W .T H O M S O N

F irst Vice Pres.

Second Vice Pres.

Exec. M anager

89th Annual

South Dakota Bankers
Association Convention


May 11 & 12
Sioux Falls Convention Hall & Downtown Holiday Inn
Sioux Falls, S.D.

C onvention C h m r.


R O FESSIO N A L Banking- The Com petitive E dge” will be the them e of the
89th annual convention of the South D akota Bankers Association May 11 and®
12 a t the Sioux Falls Convention Hall and Downtown Holiday Inn in Sioux Falls.
Featured events will include the Fellowship Breakfast, golf, tennis and bowling
events, an a rt gallery tour which will include six stops, the E arth Resources
Observations System s tour, the 15th annual reception hosted by associate m em bers^
and exhibits.
Sleeping rooms, special hospitality activities and the Fellowship Breakfast will be
at the Downtown Holiday Inn. The Sioux Falls Convention Hall will host the exhibits,
evening social activities and the general session program .
This year’s ‘‘Show Tim e” will feature ‘‘The A rbors,” a delightful quartet who w ill^
include in their performance a series of commercials for which they are famous.
Business sessions will include the annual SDBA m eeting and several noted speakers.

Sunday, May 10

R egistration desk opens, Downtown Holiday Inn. Golf, tennis and bowling
inform ation available.
R egistration desk closes.
Monday, May 11



R egistration desk opens, Downtown Holiday Inn. H ospitality Center opens
with coffee and rolls available and various activities throughout day.
8:30 M en’s golf, prom pt shotgun sta rt.
10:00 Ladies’ golf, prom pt shotgun sta rt.
12:00 R egistration desk closes, Downtown Holiday Inn.


Banker, May, 1981
Federal Reserve Bank of St. Louis

1:00 R egistration desk opens, Sioux Falls Convention Hall.
1:00 Tennis tournam ent, W oodLake Racquet Club

Federal Reserve Bank of St. Louis
Federal Reserve Bank of St. Louis

You Don’t Have to Travel
This Road Anymore.
With Remote Check Processing from Omaha Na­
tional, you can reduce your bank’s dependence on
couriers, while increasing your processing flexi­
bility and your ability to handle special customer
Omaha National offers remote processing options to
meet the varying needs of correspondent banks,
from terminal entry systems with manual check sort­
ing, to proof entry with automated capture and sort­
ing capabilities, to computer entry
While reducing courier and service expense, Re­
mote Check Processing provides for capitalization of
fixed expenses and improved float management.
Most important, with all the advantages that in-bank
sorting equipment offers, you still have the expertise
of a major bank data processor behind you to pro­
vide consulting, competitive products and systems
So if you’re tired of traveling the same old road in
check processing, contact Omaha National’s Corre­
spondent Department at (402) 348-6565.

The Omaha National Banl^
Farnam at 17th • Omaha, Nebraska 68102 • M ember FDIC
Federal Reserve Bank of St. Louis


South Dakota News


A rt tour and EROS tour
Bowling tournam ent, Suburban Lanes
E xhibit Hall opens, Sioux Falls Convention Hall.
Jo in t social hour, Sioux Falls Convention Hall.
E xhibit Hall closes. R egistration desk closes. Jo in t social hour ends.


Tuesday, May 12
P.M .


Fellowship B reakfast, Downtown Holiday Inn. Speaker: Rich Chapman.
R egistration desk opens, Sioux Falls Convention Hall.
E xhibit Hall opens, Sioux Falls Convention Hall.
General Session opens. Speaker: Dr. Paul Nadler, professor of business ad­
m inistration, R utgers U niversity.
Speaker: Lee Gunderson, president, American Bankers Association.
All Convention P ast Presidents’ Luncheon, Convention Hall. Swing choir.
General Session continues. Speaker: Douglas M acA rthur II, career
am bassador, nephew of General Douglas M acA rthur.
Speaker: E. Gerald Corrigan, president, 9th Federal Reserve D istrict,
President’s Reception, Sioux Falls Convention Hall.
R egistration desk closes. A nnual banquet.
“ The A rbors” - Theatre, Convention Hall.
All convention dance, Convention Hall.


Increase Capital Stock
The following South D akota banks
amended their articles of incorpora­
tion to increase capital stock:

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

Farm ers and M erchants Bank and
T rust Co. of Aberdeen, from $800,000
to $2,200,000; Citizens S tate Bank of
Clark, from $400,000 to $1,100,000;

Citizens Bank of M obridge, from
$450,000 to $1,050,000, and Security
Bank and T ru st Co. of W ebster, from •
$300,000 to $400,000.


Let our Vice President of
Investments, Dwaine Stinger,
or Assistant Vice President
Roma Kroll show you how
their experience can help
you get fast action in
handling Federal funds
transactions, money transfers,
security purchases and sales.

Gary Stevenson

Doug Schmidt

Vice President
Correspondent Banking

Assistant Vice President
Correspondent Banking



Choose one of our services or as many as you need:
You get an accurate, efficient system for
obtaining the best availability of your funds to
help increase the profitability of your bank.
You get a full range of loan services including
overline and liquidity loans, assistance with your
ag loans, commercial loans and others.


You get a total program for both Master
Charge and Visa that includes card issuing,
processing, corporate cards, account servicing
and assistance with merchant calls. And you get
the geographic advantages of being closer to
your Bank Card Center.

You get an entire department of Trust professionals
to assist you in meeting your client’s needs.
You get the speed and efficiency of the Banks
of Iowa computers, plus the most successful
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You get our guarantee that whether you need a
specific service, or just an idea or two, First
National is always ready to help.


First National Bank m

MEMBER FDIC • 712-277-1500 • Sioux City, Iowa 51101 • A ‘BANKS OF IOWA’ BANK
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


South Dakota News

You Will See Them At The 89th Annual
S.D. Bankers Association Convention
H E following m etropolitan b ank­
ers and service equipm ent
dealers have indicated th a t they will
be attending the South D akota
Bankers A ssociation’s 89th annual
convention in Sioux Falls, May


11 - 12 .

First National Bank: Jerom e R.
W agner.
National Boulevard Bank: Richard
T. Schroeder, executive vice presi­
dent; H. P eter DeRosier, vice
president—correspondent division,
and Louis E. Avery, assistan t vice
president, correspondent division.
First National Bank: Gary Bieck,
vice president, and M ark H ahn,
correspondent officer.

presidents; Rick K untz, Edw ard
W helan and Roger Raina, assistan t
vice presidents, and Bradford A.
Benzick, cash m anagem ent represen­
Marquette National Bank: William
A ddington, vice president, and
Richard E. Holmes, assistan t vice
Midland National Bank: Stan
Peterson, vice president, and Mike
Bodeen, assistan t vice president.
Northwestern National Bank:
Peter Gillette, president; Larry
Buegler and Don Pederson, senior
vice presidents; Dick Storlie and
Mike Kelly, vice presidents; John
Thomson, assistan t vice president,
and Steve Thompson, correspondent
banking officer.


First National Bank: Jim Flodine,
First National Bank: Dennis second vice president.
E vans, president; Robert J . A nder­
Omaha National Bank: Richard J.
son, executive vice president;
Yeshnowski, vice president, and
Kenneth A. W ales, senior vice
John W ear, correspondent officer.
president; Michael E. Boncher, Glen
United States National Bank:
W alters and Lee H am ilton, vice

Larry H. H ansen, vice president.
St. Paul
American National Bank: Robert
E. Sipple, senior vice president; Jan a
L. Kirkeby, correspondent bank
representative, and Bill Carlson, 1
senior investm ent re p re se n ta tiv e bond departm ent.
First National Bank: Dale S.
H anson, vice president, group head;
Donald R. Lindeman, and Bruce
Hebei, assistan t vice presidents;
Richard M. Carey, correspondent
bank representative.
Sioux City
First National Bank: R.C. Taylor,
president; Gary Stevenson, vice
president, and Doug Schm idt,
assistan t vice president.
Northwestern National Bank:
Jerry J u s t, vice president, and Tom
Pohlman, correspondent banking
Security National Bank: Jim
Hongslo and Steve H atz, vice
presidents, and Ken Roeder, corres­
pondent bank officer.
Toy National Bank: Rich Breyfogle and S tan Fredericks.
Bank Equipment and Other Firms
Bank Building Corporation, St.
Louis, Mo.: John Ladner and Roy
W ingers.


Heider & Company,
Omaha, Nebr.: Fred Douglas, sales


Daktronics, Inc., Brookings, S.D.:
Elmer W eisser, director of scoreboard

Brandt, Inc., Watertown, Wis.:
Jam es O. Grimes.

Dawson Hail Insurance, Fargo,
N.D.: Tom Dawson and Norm Selzle,
special agents.

On Y o u r K e x t S t a y in M in n eap o lis!
Present this ad when you arrive and we’ll give you a 010 Rebate in
Cash when you checkout. . . “no strings attached!”

Deluxe Check Printers, Inc., St.
Paul, Minn.: Jack Kelley, Ron
Nichols, Bob Sample and Clyde
M cEntire.

■ Ideal location. . .close to business, pleasure and shopping.
■ Beautiful tropical pool, sauna, etc.

Financial Institution Services,
Inc., Nashville, Tenn.: Jim Pitm an.

I Enjoy the Palm Room Lounge or the Action Packed
Calamity’s Saloon.

General Bank Equipment &
System s, Inc., Omaha, Nebr.: Tom
C. Sternberg, president, and B .J.
Gehrki, architectural coordinator.


C u r tis H o te l
D o w n to w n M in n e a p o lis : 3 4 0 -5 3 0 0
In M in n e s o ta : 8 0 0 -7 5 2 -4 2 6 4 E ls e w h e r e : 8 0 0 -3 2 8 -4 5 5 1
Subject to availability. This offer expires June 1, 1981. Valid Sunday Evenings through Thursdays only.
Not applicable to groups or other special rated programs. Limit one coupon per week.


Banker, May, 1987
Federal Reserve Bank of St. Louis

LeFebure Corporation,
Rapids, la.: Finley Jackson, regional
sales m anager, and Gregg Headrick,
sales engineer.

South Dakota News


ITT Life Insurance Corporation,
©M inneapolis, Minn.: Elm er Diedtrich.
J.T. Miller Company, Minneapo­
lis: Jerrold T. Miller, Andrew M.
^ M yers and Dirk J . Miller, partners;
Russ Hendrix and Russ B ennett,
sales representatives, and Andy
Anderson, sales m anager.

Were interested in supplying
efficient data processing.

Mortgage Guaranty Insurance
©Corporation, Milwaukee, Wis.: Rod
Kensrud, senior account executive.

For you.

Mosler Safe Company, Hamilton,
Ohio: L arr Odegard.

Ultra System s, Inc., Watertown,
Wis.: Brad Drake of W atertow n, and
Leonard W aldorf of Des Moines.

United States Check Book Com^ pany, Omaha, Nefor.: Ed Batchelder,
vice president, and W ayne Kincaid,

SDBA1981 Exhibitors
89th Annual Convention
Sioux Falls, May 11 &12

Best Business Products
Sioux Falls, South D akota
Best Typewriters & Business
Sioux Falls, South D akota
Brandt Money Handling Machines
Omaha, N ebraska
©Burroughs Corporation
Sioux Falls, South D akota
Custom Computer Services, Inc.
Rapid City, South D akota
Dakota Security System s, Inc.
Sioux Falls, South D akota
Daktronics, Inc.
Brookings, South D akota
J.T. Miller Company
©M inneapolis, M innesota
McGladrey Hendrickson & Company
Sioux Falls, South D akota
NCR Corporation
Fargo, N orth D akota
North Central Life Insurance
St. Paul, M innesota
^South Dakota Manufactured
Housing Association
Rapid City, South D akota
Ultra System s, Inc.
W atertow n, South D akota
©United Business Equipment &
Lincoln, N ebraska
Upper Midwest Automated Clearing
_ House A ss’n.
^M inneapolis, M innesota
Federal Reserve Bank of St. Louis

t Security Bank we’re peoL pie with a special interest
in your success. People you
can count on for data process­
ing and all your correspondent
banking needs.
Security Bank people
know data processing and how
to make it work for you. They
understand the special needs of
agriculturally oriented banks.
And we have a second fullservice data processing center
close to you in Mitchell.
For data processing, ag
lending, overlines and invest­
ments, start corresponding with
Security. We’re people with an
interest in you.


Security Correspondent Bankers
Top to Bottom
Jim Hongslo
Steve Hatz
Ken Roeder
Wilma Weeks
Jim Young

Western Iowa’s Largest

7 1 2 / 277-6554 MEMBER F.DJ.C.

© 1 9 8 0 Security National Bank

Northwestern Banker, May, 1981


South Dakota News

1964. Mr. Evanson graduated from
South D akota S tate U niversity, and
C.P. “ B uck” Moore, president, joined the bank in Sioux Falls in
N orthw estern N ational Bank of
1977. Mr. H uber is a graduate of
Sioux Falls, has announced the
South D akota S tate U niversity, and
following staff changes and officer
joined the H uron branch in 1978. Ms.
elections: Craig H. Johnson to senior
H arstad graduated from South
operations officer, Michael J . EvanD akota S tate U niversity and joined
son to assistan t branch m anager,
the bank in 1980.
Tim othy R. H uber to ag loan
m anager and M arlys A. H arstad to
ag loan representative.
Mr. Johnson is a graduate of the National Bank Elects V.P.
The N ational Bank of South
U niversity of South D akota and
joined N orthw est Bancorporation in D akota has elected Gary L. Scofield
and m anager of
the b an k ’s main
office in Sioux
Falls. Mr. Sco­
field m ost recent­
ly served as pres­
ident of F irst
Bank Park River,
began his bankG L- SCOFIELD
ing career in 1973 as an agricultural
representative at the H uron branch of
the National Bank of South D akota.
He had held his m ost recent position
as president of F irst Bank Park River
since 1978.
M r. Scofield is a graduate of South
D akota S tate U niversity in Brook­
ings with a BS degree in agribusiness.

Sioux Falls Staff Changes

see you
a t the
May 10-11-12

Advanced in Sioux Falls
U nited N ational Bank of Sioux
Falls has announced the promotion of

Western Bank Promotions
T .J . Reardon, president of W estern
Bank, Sioux Falls, has announced
the following pro­
motions: JeanM .
Ellingson to a s­
sistant vice presi­
dent-m arketing
and purchasing,
A .E .
“ Sonny”
O tto to consumer
loan officer and
Doyle J . Stern to
m anagingofficer,
W estern
Bank j . m . ELLINGSON



Ms. Ellingson joined the bank in
1960, and became an officer in 1974.
Mr. O tto joined W estern Bank as
consumer loan specialist in 1978. He
received a degree in business
adm inistration from N orthern S tate
College, Aberdeen. Mr. Stern has
been w ith the bank since 1971,
receiving officer sta tu s in 1972. He
has a degree in business adm inistra­
tion from A ugustana College.

New V.P. Elected in Mitchell
John G . Olson has been elected vice
president of operations of F irst
M itchell N ational Bank. He joined
the bank in 1979 as auditor, and is a
graduate of the U niversity of South
D akota.

People Banking on People
100 South Phillips Avenue
Sioux Falls, SD 57102
The First National Bank in Sioux Falls
Member F.D.I.C.

Banker, May, 1981
Federal Reserve Bank of St. Louis

Cletus Hart Dies


Cletus E. H art, 70, chairm an of the
H and County S tate Bank in Miller,
Loren Gerleman to senior vice presi­ died recently. Mr. H a rt was a
dent and cashier and Larry Zych to graduate of the U niversity of South
D akota, and purchased the H and
vice president.
Mr. Gerleman has been with County Bank in 1955.
U nited the last eight years as vice
president and cashier and has served
as a member of the board since 1980. Elected Cashier in Philip
F irst N ational Bank in Philip has
Mr. Zych joined the bank in 1975 as
assistan t cashier of the Vermillion announced the election of Rick
branch and has been assistan t vice Palecek as cashier. Mr. Palecek has
president and operations m anager for an accounting degree from Mitchell
the United National Bank system Area Vo-Tech, and joined the Philip
bank in 1978.
since 1978.


South Dakotapride.


Fat cattle. Slender wheat.
Small cities. Big sunsets.
A nd a simple, honest sense of good business.
Bankers in South Dakota make it happen.
We salute you.
Federal Reserve Bank of St. Louis

F irst B ank
M inneapolis
We’ll be there.
First Bank Place
Minneapolis, Minnesota 55480
Phone: 612/370-4691 • Member FD1C

Northwestern Banker, May, 1981


96th Annual

North Dakota Bankers
Association Convention
May 18-19
Fargo Holiday Inn, Fargo
ARGO Holiday Inn will be headquarters for the
96th annual N orth D akota Bankers Association
annual convention to be held M ay 18 and 19. The first


P res.-Elect

Vice Pres.

Exec. D irector





day will be devoted to golf and bowling tournam ents,
with the President’s Reception and Dinner following the
evening of M onday, M ay 18.
The second day will s ta rt at 7:30 w ith a Prayer
B reakfast, with the general sessions scheduled to begin
at 9:15. NDBA President C.N. Davis, senior
adm inistrative officer, the F irst S tate B ank of Cando,
will preside at the m eetings. He has been assisted during
the year by Vice President John M. McGinley,
president, American S tate Bank, W illiston, and
Treasurer L. F. G erhart, president, M andan Security
Bank. H arry J . Argue, Bism arck, is executive director
of NDBA.
The second day will conclude w ith the annual banquet
and entertainm ent. The program follows:
M onday, M ay 18
A.M .

M en’s Golf T ournam ent—Fargo Country
W om en’s Golf T ournam ent—Fargo Coun­
try Club.

P.M .
1:00- 3:00 M en’s & W om en’s Bowling Tournam ents —
W eat Acres Bowl.
6:00- 7:30 P resident’s Reception—FargoH olidayInn.
D inner—Fargo Holiday Inn.
8:30-12:30 D ance—The Eidem-Condell O rchestra.
Tuesday, M ay 19
A.M .

Prayer B reakfast
Invocation and Memorial Service: Rever­
end George W. Buchin, Com m unity P res­
byterian Church, W est Fargo.
Address: Bruce Laingen, Form er Charge
d ’Affairs, U nited S tates Em bassy, Tehran,
Opening General Session
Call to O rder—C.N. Davis, NDBA Presi­
dent, Senior A dm inistrative Officer, The
F irst S tate Bank of Cando.
Pledge of Allegiance
Recognition of NDBA Executive Councilmen and 1980-1981 Committee Chairmen.
Presentation of 40 and 50 Year Banker
9:30-10:00 Address: The Honorable Allen I. Olson,
Governor, S tate of N orth D akota.
10:00-10:45 Address: John J . Cavanaugh, Former
U nited S tates Congressm an from N ebraska
and member of U .S. House Banking, Fi-

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis



North Dakota pride.

The good lands of North Dakota.
Gullys cut by the Missouri.
Wheat and coal and cowboys.
And commerce. Its the bankers
of North Dakota who keep it moving.
We salute you.
Federal Reserve Bank of St. Louis

F irst B ank
M inneapolis
We’ll be there.
First Bank Place
Minneapolis, Minnesota 55480
Phone: 612/370-4682 • Member FDIC

Northwestern Banker, May, 1981


North Dakota News

nance, and U rban Affairs Committee.
10:45-11:00 Coffee Break
11:00-11:30 Address: William H. Kennedy, J r., Am er­
ican Bankers Association President-ElectDesignate; Chairm an of the Board, N ation­
al Bank of Commerce, Pine Bluff, A rkansas
Introduction of NDBA P a st Presidents,
NDBA Annual M eeting,
ABA Business M eeting
Doublewood Inn of Fargo
Ladies’ Social
12:00 Noon Ladies’ Luncheon
Presentation of W om en’s Golf and Bowling
T ournam ents Trophies & Awards.
Style Show by D ayton’s of Fargo.
Holiday Inn of F argo
D elegate’s Luncheon
News U pdate
Presentation of M en’s Golf and Bowling
Tournam ents Trophies & Awards.
Rem arks by new N orth D akota S tate Com­
missioner of Banking & Financial In s titu ­
General Session Continued
1:30- 2:15 Address: Dr. E arl L. Butz, Dean Em eritus
of A griculture, Purdue U niversity, W est
L afayette, Indiana.
2:15- 3:00 Panel D iscussion—N orth D akota B ankers/
M oderator: H arry J . A rgue, NDBA Execu­
tive Director.
Panelists: Representative Kelley Boyum,
T ru st Officer & A ssistan t Vice President,


3:00- 3:15
3:15- 4:00
6:30- 7:30


Foster County Bank & T rust Company,
Carrington. Senator William Parker, V ice#
President, & A gricultural Representative,
Citizens S tate Bank, Rugby. Senator Rolland Redlin, Vice President, F irst W estern
Bank, M inot.
Coffee Break
Address: Douglas Kiker, NBC News N a­
tional Affairs Correspondent, W ashington,
Social H our
B anquet
Address: George Blanda, Form er Quarterback-Placekicker (Chicago Bears, H ouston
Oilers & Oakland Raiders)
“ Stop the World I W ant to Get Off’’— I
Fargo-M oorhead Com m unity Theater.
A djournm ent

You Will See Them At The 96th Annual
N.D. Bankers Association Convention
H E following m etropolitan b ank­
ers and service and equipm ent
dealers have indicated th a t they will
be attending the N orth D akota
Bankers Association Convention in
Sioux Falls, May 11-12.


First National Bank: Catherine D.
Saccany and Jerom e R. W agner,
commercial banking officers.

W alstrom , assistan t vice presidents,
and Bradford A. Benzick, cash
m anagem ent representative.
Marquette National Bank: William
A ddington, vice president, and
William K. Klein, assistan t vice
Midland National Bank:
Peterson, vice president.


National Boulevard Bank: Richard
T. Schroeder, executive vice presi­
dent; H. Peter DeRosier, vice
president—correspondent division,
and Louis E. Avery, assistan t vice
president—correspondent division.

Northwestern National Bank:
Peter Gillette, president; Larry
Buegler and Don Pederson, senior
vice presidents; Dick Storlie, vice
president; John Thomson, assistan t
vice president, and Dennis M cFad­
den, correspondent banking officer.


St. Paul

First National Bank: Dennis
Evans, president; Kenneth A. W ales,
senior vice president; Michael E.
Boncher, Patrick Lavin and Lee
Ham ilton, vice presidents; Jack
Quitmeyer, Roger Raina and Delores

American National Bank: Steven
E. Rykkeli, Donald H. Johnson and
Robert W. Jacobson, vice presidents
—correspondent banking, and Bruce
C. B ennett, senior investm ent
representative—bond departm ent.

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

Gen. Chairm an

First National Bank: Dale S.
H anson, vice president, group head;
Bruce Hebei, assistan t vice presi­
dent; Richard M. Carey and Kenneth
A. Cain, correspondent bank repre­
San Francisco
Wells Fargo Bank: Donald J a r ­
dine, senior vice president, a n d #
Ingrid Canto, correspondent banking
Bank Equipment and Other Firms
Bank Building Corporation, S t.^
Louis, Mo.: John Ladner.
Brandt, Inc., Watertown, Wis.:
Ronald E. Doll.
Daktronics, Inc., Brookings, S .D .:#
Elmer W eisser, director of scoreboard sales.
Dawson Hail Insurance Company,
Fargo: Jim Dawson, president, a n d ^
Lyle A skerooth, vice president.
Deluxe Check Printers, Inc., St.
Paul: Duane Lee and Ron Nichols.
Financial Institution Services,^
Inc. Nashville, Tenn.: Jim Pitm an.

N o r t h D a k o ta
The name comes from a Sioux word meaning "alliance
with friends" It's one of America's great agriculture
states, with over 90% of its land devoted to farms.
Join Peter Gillette, President, Larry Buegler, Senior Vice
President, Don Pederson, Senior Vice President, and
their associates from the Correspondent and Bond Depart­
ments in the "Flickertail State" for the state bankers
convention, May 18 and 19 at the Holiday Inn in Fargo.

N orthw estern
National b a n k
Of Minneapolis
An Affiliate of Northwest Bancorporation

Member FDtC
Federal Reserve Bank of St. Louis



North Dakota News

General Bank Equipment & poration, Milwaukee: Rod Kensrud,
Systems, Inc., Omaha: Thom as C. senior account executive.
Sternberg, president and B .J.
Mosler Safe Company, Hamilton,
Gehrki, architectural coordinator.
Ohio: Larry Odegard.
ITT Life Insurance Corporation,
Minneapolis: Elmer Diedtrich.
Mortgage Guaranty Insurance Cor-

North Central Life Insurance
Company, St. Paul: Bruce Glewwe,
Larry W alsh, Dan W alsh and Parker

Belt-Tightening Time in North Dakota
By C.N. DAVIS, President
N orth D akota Bankers Association
Senior A dm inistrative Officer
F irst S tate Bank, Cando
T IS my pleasure to welcome all
members and guests to the 96th
Annual Conven­
tion of the N orth
D akota Bankers
Fargo on May
18-19. I hope
th a t in these
troubled tim es of
double-digit in­
flation, high in­
terest rates, and
drought, you will
find great value in our program and in
your visits with the m any friends
from around the state who are
gathered for this annual m eeting. We
also hope th a t as you participate in
the entertainm ent portions of the
convention, you will relax and forget
your problems for a few m om ents so
th a t you may return home rested and
As we move into the 1981 growing
season, normally a time of optim ism
and high hopes, we find less than
usual about which to be optim istic.
A fter nearly two years of subnorm al
precipitation, v ast portions of our


NDBA’s Annual Convention
Committee Chairpersons
N D BA ’s annual convention May 18
and 19 in Fargo are:
Registration: Russ Slotten, F irst
Bank; Publicity: Jack Van Sickle,
F irst National; Exhibits: Linda Loe,
D akota Bank; T ransportation; Bob
Olson, Fargo National; Golf T our­
nam ents: Wil Schum acher, F irst
National; Bowling Tournam ents: Del
Herrm ann, Fargo National; Presi­
d en t’s Reception: Ben Clapp, Union
state; E ntertainm ent: Jean H agen,
Fargo National; Prayer Breakfast:
O tto Olsgaard, W est Fargo State;
M eetings Coordinator: Stan Taylor,

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

NDBA State
Legislative Report
Executive Director
N orth D akota Bankers Association

H E GAVEL has fallen on thq|>
1981 session of the N orth D akota
state are extremely short of subsoil Legislature and
m oisture and many places need as bankers reflect
significant spring rain for the grain to on it, the results
germ inate. W ith the skyrocketing appear
costs of all ingredients in the farm ers’ every
operating expenses - fuel, fertilizer, viewpoint to be
chemicals, labor and repairs - current quite favorable.
m arket prices are simply not This especially
adequate to return a reasonable seems to be the
profit. Add to this the high cost of case in a num ber
financing any portion of their
of areas where the
operation and it becomes obvious N orth
D akota
th a t 1981 will be another stern te st for Bankers Association requested legis­
m any of our farm ers. This, in turn, lation to allow banks to competdll
presents a very great challenge to our better in light of recent Federal law
banks and other financing agencies as changes and economic conditions.
we attem p t to carry our farm ing Recent history suggests, however,
industry through to better tim es.
th a t it is too early to presum e th a t
I t may or m ay not be true th a t we’re in good shape for any length oil
“ misery loves com pany,’’ bu t reports time in the future.
from all over the world indicate th a t
I t is easy to recall back to this same
N orth D akota and the United S tates time in 1979. NDBA had ju st
are not the only places in serious concluded a successful effort to have
trouble. In fact, news reports indicate the Legislature raise the genera®
th a t many nations have higher usury ceiling from 9 lA % to 12 % and
inflation, poorer crops, and even
the installm ent ceiling from 12% to
worse problems, which m akes us
15% . A t th a t tim e, it was honestly
happy th a t we are living here in N orth
believed th a t these limits would be
D akota. We survived the “ D irty adequate for years to come. In fact,®
30’s ’’ and undoubtedly we will prior to the 1979 session the
survive our present problems, but
Association had considered request­
there is no doubt th a t for the ing an increase to perhaps only 11 %,
imm ediate future, we will all find it b u t decided to go for the 12 % w ith the
necessary to tighten our belts and thought th a t we did not w ant to h a v ®
play our cards very carefully.
to ask for another increase very soon.
No one needs rem inding w hat’s
Fargo National; Ladies’ Committee: happened to interest rates and the
M ariya McDonald, F irst Bank; economy in the last two years.
D elegates’ Luncheon: Dean WegenA fter several m onths of carefu
ast, S tate Bank of Fargo; Tuesday planning, the NDBA this year
N ight Social: Arche Filley, F irst sponsored legislation (with coopera­
S tate, W. Fargo; Tuesday N ight tion from the Independent Commun­
Banquet: W ayne Leiner, D akota ity Banks of N orth D akota and the
Bank, and General Chairman: Stan N orth D akota Savings and Loan"
Taylor, Fargo National.
League) to remove usury lim itations
from all loans made by regulated
New Goose River EVP
W .C. M artz, president of the lenders in the state. W ith assistance
Goose River Bank in Mayville, has from bankers from across the state m
announced th a t W illard D. Sorteberg this legislation was approved in the1
has joined the bank as executive vice Senate on a 50-0 vote, passed the
president. Mr. Sorteberg, formerly House on a 76-21 vote, and has been
vice president and cashier of the F irst signed by the Governor. The new
& Farm ers Bank of Portland, was an provisions will become law on Ju ly 1 ^
This was not, however, the only
officer and director there.



W e lc o m e to F arg o
for the

96th Annual Convention
of the

North Dakota Bankers Association
May 18,19,1981

"We are proud to help serve as your hosts"







51 Broadway • 1815 South Univ. Drive Fargo, North Dakota • Member F. D. I. C.
FARGO. NORTH DAKOTA 68102 / TELEPHONE (701) 2 3 7 « 6 1

M ain at B roadw ay — V illa g e West
Fargo, N o rth D akota


National bank
Of Fargo


First Bank
M em ber First Bank System




D A K O T A 58078

An Affiliate of Northwest Bancorporation
Member FDIC
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


North Dakota News

state legislative accomplishment for
banking in the session ju st past.
Others from among the 71 bills
worked and monitored by NDBA
• R einstitution of the N orth
D akota bankruptcy exem ptions in
place of the Federal exem ptions now
in effect.
• To provide banks with reim ­
bursem ent for their tim e and
expenses when required to search
their records at the request of a state
• Providing a $200 per person
interest income exemption from state
income tax, providing th a t the
interest is earned from a N orth
D akota financial institution.
• To allow state-chartered banks
to increase the size of their boards to
25 members and to remove the
requirem ent th a t such boards m ust
have an odd num ber of directors.
• To allow banks to place orders
through a correspondent for govern­
m ent bonds as a convenience to their
custom ers w ithout their having to
register as securities dealers.
J u s t as im portantly, a t least 10
bills were defeated by the 1981
Legislature th a t would have been
detrim ental to N orth D akota b an k ­
ing NDBA opposed m easures th a t
would have saddled banks w ith fur­
ther requirem ents, yet would have
had little, if any custom er benefit. □

Named VP in Finley
Roger D. M onson has been named
vice president and ag representative
at Citizens State
Bank in Finley.
Mr. Monson has
nine years of
credit experience
with PCA of
G rand
serving as branch
m anager of the
Finley office. He
received a BS
degree in busi­
ness economics from N orth D akota
S tate U niversity.

New Cando Cashier
M argaret Schaffer has been elected
cashier and senior operations officer
of F irst Bank Cando, according to
W ayne N. Forgey, president. Ms.
Schaffer began her banking career in
1966 as bookkeeper a t F irst Bank
Cando. She was elected assistan t
cashier and operations officer in 1978.
Banker, May, 1981
Federal Reserve Bank of St. Louis

First National Bank of Fargo Breaks Ground
IR ST N ational Bank of Fargo five inside tellers, drive-in night
has broken ground for its new depository, commercial and personal
west office at 2501-13th Avenue lending, In sta n t Cash machine and
South in Fargo. The new building will safe deposit boxes.
T .F . Powers C onstruction C o"
include 24,900 square feet of office
space and is designed as a m ulti-story began construction imm ediately.
structure. Total cost is approxim ate­ Completion is expected within one
ly $2.5 million.
year. F irst N ational Bank of Fargo is
The new W est Office will be a full also currently constructing a new
service facility with six drive-in main bank facility in downtown*
lanes, one commercial drive-in lane, Fargo.


FIRST N ational Bank of F argo’s new $2.5 m illio n stru ctu re w ill in clud e 24,900 square feet
of o ffic e space.

Mr. Rime is a graduate of N o r th ||
S tate U niversity, and joined
F irst Bank Park River has elected
F irst Bank Langdon in 1974. Mr.
Gary W. Paulson president and a dir­
Zavalney is also a graduate of N orth
ector. He suc­
Dakota S tate U niversity, and was
ceeds Gary L.
previously ag loan officer at F i r s t s
Scofield, who has
Bank M inot.
been elected vice
m anager of the
main office of the
N ational Bank of
South D akota in
Sioux Falls.
has been associ­
ated with F irst Bank System
affiliates since 1972 when he joined
F irst Bank Fargo as a m anagem ent
trainee. He m ost recently served as
vice president and second officer of
New Manager in Bismarck <
F irst Bank Langdon since 1977.
Bruce Zavalney has been prom oted
M r. Paulson holds both bachelors
and m asters degrees in agricultural to m anager of the agriculture d ep art­
economics from N orth D akota S tate m ent a t F irst
Bank Bismarck,
U niversity in Fargo.
according to Ro­
bert E. W estbee,
First Bank Langdon
Officer Promotions
Mr. Zavalney
D.M . M ason, president of the F irst began his b ank­
Bank of Langdon, has announced the ing career w ith
election of Terry Rime to vice F irst B ank S ys­
president and second officer and tem in 1977 at
B rent Zavalney to assistan t vice F irst Bank B is­
president and m anager, farm loan m arck as a managem ent associate.
departm ent.

New Park River President



J. B. W allander, pres., Froid
J. T. Cadby, exec, v.p., Helena


Billings Officer Election

Lease Northwest Office

for the Banco affiliates in M ontana.
He will be headquartered in G reat
Falls and serve seven Banco banks
and N orthw estern Union T rust
Company in the state.
Previously, Mr. Robertson was
assistan t vice president and director
of employe relations and staffing with
N orthw estern N ational Bank of
Minneapolis. He began his banking
career in 1969 when he joined F irst
N orthw estern National Bank of
Billings. He was personnel officer
there for eight years before m oving to
the M inneapolis bank in 1978.

Al W iengardner, president of F irst Opens in Billings
N orthw estern National Bank of
Daniel A. Leclerc, president of
• Billings, has an ­
Lease N orthw est, announced the
nounced the elec­
opening of an office in Billings in Promoted in Billings
tion of Gretchen
F irst Bank Billings has elected
mid-April. Named m anager of the
Henry as escrow
Billings office is Jam es F. Fetzer, P a tty W eitz to assistan t vice
officer. M s. H en­
president, m ana­
lease m arketing officer.
d r y attended the
M r. Fetzer, who joined Lease ger of m arketing.
N orthw est in M arch, has a BA degree Ms. W eitz g rad ­
Junior College,
from Stanford U niversity and an uated from M on­
and worked for
MBA from the U niversity of Iowa. tana S tate U ni­
several years as a
He was previously assistan t vice versity w ith a
• le g a l secretary in
of the Bank of Virginia in business adm in­
M ontana
istration degree.
M innesota before joining F irst
She joined F irst
N orthw estern in 1978.
Bank Billings in
Banco Names Manager
1976 as a m arket­
N orthw est Bancorporation has ing trainee and
•Miners Bank Election
named Robert P. Robertson, Jr. was prom oted to m arketing officer in
T .J . Shea, president of M iners regional hum an resources m anager
Bank of M ontana, N .A ., in B utte,
has announced
^¡the election of
K enneth G.McConwell to assis! ta n t vice presi­
dent-cashier. Mr.
•VlcConwell g rad ­
uated from N or­
thern M ontana
G. E. Cooke, pres., Powell
College w ith a
degree in educa­
M. C. Mundell, exec, dir., Laramie
tio n .
formerly assistan t vice president of
Citizens Bank of M ontana.


^Missoula Promotions
F irst Bank-Southside M issoula has
announced the prom otions of J.R .
“ Rick” Scanlan to commercial loan
officer and compliance officer and
^Terry K nutson to real estate loan

Holding Company Approved
_ The Federal Reserve B ank of
^Minneapolis has announced its
approval of the application by J&L
Bancorporation, Inc., Glendive, to
become a bank holding company
hrough the acquisition of the F irst
lecurity Bank of Glendive.

Federal Reserve Bank of St. Louis

New Torrington President

Joins Casper Bank

Tom W alrath, formerly assistan t
vice president, has been prom oted to
president of the Citizens N ational
Bank of Torrington. Mr. W alrath will
replace H .D . Shellenberger.
Also prom oted were Keith W hit­
ney to senior vice president, W anda
Steinm etz to assistan t cashier and
loan officer and Bill Costopoulos to
assistan t cashier.

Robert W. Miracle, president of
the W yoming National Bank of
Casper, has an ­
nounced the ap ­
pointm ent
Charles Dorman
as vice presidentcommercial
loans. M r. D or­
man has been
and tru s t officer
of the Perry S tate
Bank in Iowa,
which he joined in 1958. He received
his AS degree from Broward Junior
College in F ort Lauderdale, Fla.

Elected in Thermopolis
Evelyn Clark has been hired as vice
president and cashier of F irst
National Bank in Thermopolis. Ms.
Clark was previously vice president
of F irst W yoming Bank in Sheridan.

Northwestern Banker, May, 1981


80th Annual

Colorado Bankers
Association Convention
June 4-6
Broadmoor Hotel
Colorado Springs

Exec. Manager

UTDOOR activities will dom inate the first day of
the 80th annual convention of the Colorado Bankers
Association, scheduled for The Broadmoor in Colorado
Springs, June 4 ,5 , and 6, according to Jam es J . O’Dell,
CBA president and president of the P latte Valley Bank,
Brighton. Golf, Tennis, skeet and trap shooting, and
other activities will be available.
The complete program is as follows:
Thursday, June 4


Fun Run, Broadmoor Golf Course.
M en’s Golf Tournam ent, The Broadmoor Golf
R egistration and E xhibits, Ballroom, Main
Bridge Tournam ent, Green Room, Main Build­
Home Tour, South Entrance of The Broadmoor.
Tennis Tournam ent, The Broadmoor Tennis
Ladies’ Golf Tournam ent, The Broadmoor Golf
Busses depart for Steak Fry, The W est E ntrance
of The Broadmoor.
Cocktail P arty , Rotton Log Hollow
Steak F ry, Rotton Log Hollow.

Central B reakfast, M ain Dining Room.
F irst Business Session, International Center.
President’s A ddress—Jam es J . O ’Dell

for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis


ABA R eport—C.C. Hope, p ast president of the
American Bankers Association.
“ W hat the Polls Tell U s” —Richard S c a m m o n *
noted pollster from W ashington, D.C.
“ Tax Reform ” —Jude W anninski, “ the father of
the Kem p-Roth b ill.”
12:00 Cocktails at International Center.
12:30 Combined Luncheon a t International Center.
Speaker—Andy Rooney of C B S/TV Show “ 60
M inutes.”
2:00 M anagem ent W orkshops, W est Ballroom, T h ^
Broadmoor W est.
6:00 Social H our, Lake Terrace, Main Building.
7:30 Gala Dinner and Show a t International C enter—
Randy Sparks and the Backporch M ajority and
Paul Lennon.
10:30 D ancing—International Center.
Saturday, June 6

Friday, June 5

Vice Pres.


ABA Past Pres.




Shearson-Loeb-Rhoades B reakfast at In te r­
national Center.
R egistration and E xhibits, Ball Room, Main
Second Business Session at International
A ddress by David Jones of A ubrey G. Lanston,
New York.
A ddress by H ugh Downs of A B C /TV Show
“ 2 0 -2 0 .”


A nnual M eeting and Election of Officers.
A djournm ent.



to service is
your Source of
strength in

First of Denver is the source you can
depend on
for prompt decisive answers and
action on your loan participation requests,
for the newest, most comprehensive
cash management systems,
for an availability schedule which sets
the standard in the Rocky Mountain
for highly skilled bankers who make it
their business to anticipate changes in the
agri-business and metro markets that can
affect your bank and customer needs.
And we respect and protect the
integrity of your customer
So consider the Source.
First of Denver
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Colorado News

You Will See Them At The 80th Annual
Colorado Bankers Convention June 3-6

Bank Building Corporation, St.
Louis: Bob Owens.

United Bank of Denver: Richard
A. Kirk, president/chief executive
officer; Donald W. Robotham and
Charles R. Hazelrigg, executive vice
presidents; Robert H. Dressel, senior
vice president; D .D avid Jones, vice
president; Janice L. Campbell,
assistan t vice president; Jam es T.
First National Bank: Colin Jo h n ­ Lam pm an, William J. Powers, Darcy
son, vice president, and Catherine D. L. M yers and Ronald D. Edw ards,
Saccany, commercial banking officer. commercial banking officers.

Chiles-Heider & Co., Inc., Omaha,
Nebr.: Jeff M oran, sales re p re se n ta #

H E following m etropolitan b an k ­
ers and service and equipm ent
dealers have indicated they will be
attending the 80th annual convention
of the Colorado Bankers Association
in Colorado Springs, June 3-6.


Harris Trust and Savings: Chris­
topher Baine.

Kansas City

Brandt, Inc., Watertown, Wis.:
Bernard W. Hillyer.

Chilton Corporation, Minneapolis:
Bob Denny, director of w estern
region, and Tom Rogers, g e n e ra ^
m anager—Denver.
Deluxe Check Printers, St. Paul,
Minn.: Roger Bowen, Roger Bell,
Ralph Stolp, Chris Sabin, Karen
Kracher, sales representatives.

Financial Institution Services,
Commerce Bank: H.C. Baum an, Inc., Nashville, Tenn.: Gary Letey.
Northern Trust Company: Julia C. vice president, and David L. Scott,
General Bank Equipment &
Parks, commercial banking represen­ assistan t vice president.
System s, Inc., Omaha, N eb r.#
tative, and A rthur M. Wood, second
United Missouri Bank: Richard C. Thom as C. Sternberg, president, and
vice president.
King, president; E .L . Burch, execu­ B .J. Gehrki, architectural coordina­
tive vice president, and Richard H. tor.
American National Bank: Bruce Muir, vice president.
Krichner Moore & Company^
H ulbert, president; Jack P anther,
Denver: J . Michael Fleming, senior
executive vice president; Dave
vice president; John Schabacker, vice
Guyton, senior vice president; Roger
First National Bank: Gary Bieck,
Reiling, vice president; Dave Utley vice president, and Steve Anderson, president and m anager/sales; W .R.
Opp, M ark L. Griffin and William
and Dave M anley, assistan t vice assistan t vice president.
Potocnik, vice presidents.
Los Angeles
Lincoln Benefit Life Company,
Central Bank & Trust Co.: Max
Nebr.: Steve S utton, vice
United California Bank: Ernie
Brooks, chairm an of the board; Don
Hoffman, president; Joe Lincoln, Sandoval, vice president.
George P atterson and R .J. Nelson,
Mosler Safe Company, Hamilton^
New York
executive vice presidents; Jim
Ohio: Joe O tte, J r.
The Chase Manhattan Bank: W .P.
Osbourn and Don Echterm eyer,
North Central Life Insurance
senior vice presidents; Ron Jerm an, M orris, second vice president.
Company, St. Paul, Minn.: Roger
Dwight Bowen, Bill Tum elty and Jim
Correspondent Resources, Inc., Pulkrabek, Doug Pietro, Ed Allen
Simon, vice presidents; Jim Fallon, Citibank, New York: Brian Rooney,
and Roger M cCarty.
correspondent bank officer, and Rick vice president/regional business
Saint Louis Terminal Warehouse
M cElroy, correspondent banker.
m anager; Michael Santim auro and
St. Louis, Mo.: Buck
Colorado National Bank: Peter A rthur Sensenig, assistan t vice
W ard, Denver district m anager.
G rant, president; Robert Kropf,
Scarborough and Company, C h i#
senior vice president; Lance Johnson,
111.: Richard Benjamin.
William MacMillan, David Fowler,
Nelson Cole and Louis Clain, vice
The Omaha National Bank: Jam es
presidents; Mike Stanford, Gerre
Allen and Richard J . Yeshnowski, Staff Changes in Calhan
Leyden and Steve Miller, correspon­
John L. Pieper, president anqj^
vice presidents.
dent banking officers.
chairm an of Farm ers S tate Bank of
Calhan, has announced the hiring of
Denver National Bank: C.Gale
Samuel J . H usson, J r., as instalm ent
Sellens, chairm an/chief executive
Seattle-First National Bank: A r­ loan officer and the promotion of Joan
officer; Sam ual D. Addoms, presi­
dent; John A. Edm iston, senior vice thur L. M anegre, vice president/area L. Lawson to assistan t cashier.
president, and Steve Sheridan, vice m anager, and George E. Lovell,
assistan t vice president.
Elected to Boulder Board
First National Bank: Joe Sylvan,
senior vice president; Tim Buchanan,
John Nelson and Peg Zarlengo, vice
presidents; Terry Tangen and H arry
Devereaux, assistan t vice presidents;
Hal Firem an, Bruce Basham , Bob
Swartz and Tim W ebster, correspon­
dent bank officers.

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

Lucy Black Creighton has been
elected to the board at National S ta t^
American Express Company: T ra­ Bank of Boulder, according to
velers Cheque and Money Order Richard C. Meckley, chairman and
Divisions, Englewood, Colorado: T. chief executive officer. Dr. Creighton
Philson Turnbull, regional vice is a corporate economist and director
president, and Edwin J . Lichtw ardt, of economic development for the Firs^,
National Bancorporation, Inc.
senior district m anager.
Bank Equipment and Other Firms



Unlike other banks
At Colorado National, we
give you someone to talk where action on a major
problem can take days or
to in Correspondent
weeks, Caralee is at your
Caralee Zimmer.
disposal to assure same
The Big Idea behind
clay problem solving in
her job is to provide
most cases.
prompt research and
She devotes 100% of
corrections for any
her time to monitoring
operational transaction
your account, float, and
problems between CNB
cash letter arrivals.
and you.
Caralee comes to us with
Federal Reserve Bank of St. Louis

10 years of operations
experience at one of our
correspondent banks.
She understands your
Caralee Zimmer. She’s
full of Big Ideas in
helping you with your
daily correspondent
needs. For more infor­
mation, give her a call at
(303) 893-1862, x 2278.

Ask for Caralee. She’s
ready to listen.

make big
ideas happen.
M e m b e r F D IC

® ik

M e m b e r P lu s S y s te m ^pius

Northwestern Banker, May, 1981


Colorado News

Faletti New Denver EVP
F irst N ational Bank of Denver has
elected Peter F. F aletti executive vice
president and chief financial officer,
according to Robert E. Lee, president
and chief executive officer. O ther
promotions include: David
Blackford to senior vice president and
m anager of the real estate d ep art­
m ent, Robert B. M addox to senior
vice president and m anager of the
energy departm ent and George N.
Silca to vice president- energy
departm ent.

U niversity of Denver and a MBA
from Portland S tate U niversity.
O ther appointm ents announced
were Cheryl M. A ntalek and
K athalynn H ardisty to accounting
officers and Richard Choffel to
operations officer.

University Natl. Changes
Ju d y Sm ith has been prom oted to
assistan t cashier and Sheree Perez
has been named personnel m anager
at U niversity N ational Bank of
Denver, according to Charles L.
Ferguson, president and chairm an.
Ms. Sm ith joined the bank in 1974.

Two Elected in Sterling



Bruce Gill, president of the F irst
N ational Bank of Sterling, has
announced the election of John F.
“ J a c k ” Taylor to assistan t vice
president and Joyce D. J o s t to
assistan t cashier. Mr. Taylor g radu­
ated from Colorado S tate U niversity,
and joined the bank as an ag loan
officer. M rs. J o s t has a degree from
N ortheastern Junior College, and
was a commercial loan clerk before
her promotion.

Dial-A-Rate Service
Offered by United Bank


Mr. F aletti moved into the
newly-created position of chief
financial officer in mid-April. He had
held a similar post with Iowa-Des
Moines National Bank since 1978. A t
F irst of Denver, he will be responsible
for the m anagem ent of assets and
liabilities, the investm ent portfolio
an strategic planning. Mr. F aletti
graduated from St. Louis U niversity
with a m asters degree in finance.
Mr. Blackford joined F irst of
Denver in 1978 as a loan officer. He is
a graduate of W illiams College of
M assachusetts. Mr. M addox is a
graduate of the U niversity of Denver.
Mr. Silca is a graduate of Indiana
U niversity and holds a m asters
degree from Loyola U niversity of

United Bank Appointments
U nited Bank of Denver has
announced the appointm ent of Peter
Hosokawa to vice president. Mr.
Hosokawa has been in banking for 11
years, joiningU B D in 1980. He holds
a BSBA in finance from the

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

U nited Bank of Denver has
introduced a new custom er service
called Dial-A-Rate through which
investors can keep informed of
current rates being paid on m any
investm ent securities by calling
861-6166 24 hours a day.
The two-m inute message which is
updated as changes occur, includes
the auction rate on three- and
six-m onth Treasury Bills, rates on
U nited Bank of Denver Six-M onth
and 30-M onth Money
M arket
Certificates, $100,000 Negotiable
Certificates of Deposit, and the
B ank’s current prime interest rate. In
addition, inform ation is included as
new U .S. Treasury and Agency
issues are announced.
According to Edw ard L. Fogle,
vice president, funds m anagem ent
division, the service was implem en­
ted to assist the b an k ’s custom ers in
keeping up w ith investm ent rates
which have been changing rapidly
during this particularly volatile
economic period.
Im plem ented the first week of
February, the service is attractin g an
average of 200 callers a day.
Additional lines have been added to
keep up with the growing volume.

United Bank Offers
Mastercard II Program
United Bank of Denver, one of the
largest providers of bank card
services in the Rocky M ountain
region, has announced it will o ffe#
M asterC ard II, the new national
debit card program , to agent banks
and financial institutions.
Through U nited Bank of Denver,
the service can be tailored to th ®
individual institution issuing the
card. Twenty-five percent of the card
face and the entire reverse side can be
used for display of the bank name,
logo, or other identifying informa®
tion. Support services United Bank
of Denver will provide as p art of the
program include: card issuance, draft
processing, authorization service,
chargeback and dispute processing®
and staff training.

New Controller in Boulder
F irst National Bank in Boulder h a 0
appointed D. Terrance Fem mer to
deputy controller in the accounting
departm ent.
He was
internal auditor with Affiliated
Bancshares of Colorado.

NBA Convention June 14-16
The Nevada Bankers Association
will hold its 62nd annual convention^
June 14-16 at the Ormsby House in
Carson City Nev.
Registration will be Sunday, June
14 from 1:00 p.m . to 5:00 p.m . and on
M onday, June 15 from 8:00 a.m . to*
12:00 noon. Sunday evening win
feature the President’s Reception,
dinner and guest speaker B. Gene
Conatser, who will discuss the
economic trends of the w e s te r^
M onday’s activities will include
athletic events, a tour of the
newly-restored S tate Capitol building
and historic Victorian homes i ^
Carson City. A fter lunch a fashion
show will highlight contem porary
and historic fashions, and the
speaker will be
Brigadier General Jam es P. M c^
Carthy, the Air Force’s special
assistan t for MX m atters. Rounding
out the d a y ’s activities will be a
western attire outdoor bar-b-que and
dance a t the Governor’s M ansion. ^
Tuesday C arter H. Golembe of
Golembe Associates,
highlight the W ashington, D.C.
scene and discuss w hat effect the
Reagan adm inistration will have o 0
the financial community.


Each of these
United Missouri
Dick Muir

Jack E. Beets

Phil Straight

Each has die know-how
and experience to help your
bank keep up-to-date on
regulations and grow more
Meet the pros.
Dick Muir is a busy man, but he’s always available to help make your bank more profitable. Before
joining United Missouri, Dick was chief executive officer of a Kansas City area bank. He is also a college and high
school sports official.
Jack E. Beets has 32 years of service with United Missouri Bank in operations, paying and
receiving, consumer loans and, for the past 13 years, as a correspondent banker. He graduated from the
Graduate School of Banking in Madison, Wisconsin, in 1972. He offers your bank an unusually good blend of
theoretical and practical experience.
Phil S traight taught and coached before entering the life insurance field. He also served with the
credit divisions of two large firms before joining United Missouri in 1973. Then he traveled in Nebraska and
Colorado. He now covers Northwest Missouri for us. Currently, he is attending the Graduate School of Banking in
Madison, Wisconsin.

United we grow. Together.
M em ber FDIC
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981



J. E. Roe, pres., Bennington
R. M. Beverage, exec, v.p., Lincoln

Unique Nebraska H.C. Plan
Is Approved by Fed
A unique holding company plan
recently approved in N ebraska is
believed to be the first action of its
kind ever taken by the Federal
Reserve Board. Under the plan, a
father-son banking partnership has
agreed to split its ownership in two
banks in the same m arket, not ju st
for the present bu t even beyond their
lifetimes and into the next generation
of owners.
A fter two earlier denials of
applications from Dale Stine to
reorganize his N ebraska S tate Bank
in Ord, where he is chairm an, into a
holding company, the approval was
given this tim e on a 4-2 vote w ith the
condition th a t he sell controlling
interest in the Ord bank to his son,
Greg D. Stine, who is president of the
bank. Greg Stine, then, is to dispose
of his interest in the other
family-owned bank in the same
m arket, the N orth Loup Valley Bank
in N orth Loup, where Dale Stine is
president. Greg Stine has been
president a t N ebraska S tate Bank
since 1977.
According to the B oard’s approval
announcem ent, the 58-year old Dale
Stine has agreed to “ order his affairs’’
so th a t after his death his son Greg
cannot inherit any of his interest in
N orth Loup Valley Bank w ithout
prior Fed approval. This agreem ent
further precludes Greg S tine’s
children from such ownership w ith­
out Fed approval if he should die
before his father.
The complicated arrangem ent was
worked out by the Stines with the Fed
as the condition on which the Fed
would authorize the application for a
holding company.
N ebraska S tate Bank of Ord had
1980 year-end deposits of $23,840,000
and was listed as the second largest of
five banks in the local m arket, having
a 30.7% share of deposits. N orth
Loup Valley bank held 1980 year-end
deposits of $8,545,000, w ith 12.9% of
for FRASERBanker, May, 7981
Federal Reserve Bank of St. Louis

the deposits in the m arket. Ord (pop.
2,400) is the county seat of Valley
County in the middle of N ebraska.
N orth Loup (pop. 425) lies 14 miles
southeast on Hwy. 11 along the Loup

The N ebraska Bankers Associ­
ation’s 84th annual convention
got under way M ay 7 in Lincoln
as this issue was being deliv­
ered. A complete report with
pictures will be published in the
next issue.

Elected V.P. at Minden
Jam es M. Larsen has been elected
a vice president a t M inden Exchange
Bank and T rust Co. Mr. Larsen has
served eight years as an examiner
with the S tate D epartm ent of
Banking and Finance. He is a
graduate of Kearney S tate College.
Title changes announced by the
bank include: A.C. Hove, Sr.,
chairman em eritus; R.K. A rm strong,
Sr., chairm an, executive committee;
A.C. Hove, J r., chairm an and tru st
officer; Ray Van Norm an, president
and tru s t officer; R.K. A rm strong,
J r., vice president and cashier, and
Bill Johnson, assistan t vice presi­

New Teller Office Approved
Paul J . Amen, director of Banking
and Finance, has given perm ission to
Five Points Bank in G rand Island to
establish a detached auxiliary teller
office to be located at 3111 W est
Stolley Park Road in G rand Island.

Holding Company Denied
A complicated reorganization plan
th a t would have given Em erson F irst
National Co. of Em erson,
nonoperating company, authority to
acquire F irst N ational Bank of
Em erson, was denied M arch 23 in a

split decision by the Federal Reserve
Board. The bank has deposits of
approxim ately $10 million.
This application would have
authorized Em erson F irst National
Co. to become a holding company by
acquiring the bank, and permittee
the related applications of Arcadia
Agency Company, D ecatur Agency
Company and Tekam ah Agency
Company to separately acquire
voting interests in Em erson First
National Company. The holding
company would have acquired 95 % of
outstanding voting shares of The
F irst National Bank of Em erson. The
three agencies each would have
acquired 24.9% of the outstanding
shares of Em erson F irst National
Company. The three agencies own
Arcadia S tate Bank, Citizens State^
Bank of D ecatur and F irst National
Bank of Tekam ah.
The Board noted th a t “ The
principal of Em erson and Bank is also
a principal of Tekam ah, Arcadia anc
D ecatur and their subsidiary b a n k s. ■*
The Board found there would be “ no
adverse effects on existing or
potential com petition in any revelant
area” and found this c o m p e titiv ^ l
consideration “ consistent w ith a p ­
The Board said it felt after
consideration “ th a t the overall
financial consequences of the debt
servicing requirem ents created by
this proposal present adverse finan­
cial factors th a t w arrant denial,”
although it said “ m anagerial resour­
ces of applicants, Bank, and other
banks in the chain are consistent with
approval of the tra n sa ctio n .”
Fed Governors Partee and Gramley issued a dissenting statem ent,
stating, “ In our view, the facts o f
record in this case indicate th a t both
Em erson and Tekam ah are capable of
servicing their proposed debt, and
th a t financial factors favor approval
of these applications . . . A denial in"
this case would mean th a t one-bank
holding companies, and similar chain
banking organizations, would be
required to limit their acquisitioi
debt to less than 75 % of the p u rch a se
price of a bank to be acquired, and not
increase their debt-to-equity ratio
above .3 to 1 for a nonsubsidiary bank
acquisition.” The dissenters said anw.
such finding should be based on a*
rulem aking procedure and
through adjudication by the Board,
thus puttin g “ the industry on notice
of w hat the Board considers to be s a f ^ l
and sound banking practices.”

W e c a n m a k e it e a s y for y o u to b e c o m e a
p a rt o f to d a y 's g r o w in g E lectro n ic
F u n d s T ransfer (EFT) e n v ir o n m e n t . . .
w it h o u t a lo t o f w a itin g .

your bank,
Instant Cash can
be instant

O u r r e a d y - t o - g o I n s ta n t C a s h p a c k a g e
in c lu d e s th e ca rd , th e e q u ip m e n t , th e
p r o c e s s in g s y s t e m , te c h n ic a l s u p p o r t,
a n d a p r o v e n -e ffe c tiv e m a r k e tin g a n d
a d v e r tis in g p r o g r a m . B e s t o f all, w e 'r e
r e a d y to p u t all (or part)
o f it to w o r k for y o u n o w .

L ea r n h o w y o u c a n m a k e th e m o s t o f
o u r I n s ta n t C a s h S e r v i c e s . . . to m a k e
y o u r a c c o u n t r e la tio n s h ip s m o r e v a lu ­
a b le , to m a in ta in y o u r b a n k 's id e n tity ,
a n d to c o m p e t e m o r e e ffe c tiv e ly in
y o u r m a r k e tp la c e . C a ll a U .S . N a tio n a l
C o r r e s p o n d e n t B a n k e r at 4 0 2 /5 3 6 -2 0 7 2
to d a y .

Tom Jackson

© U.S. National Bank, 1980
Federal Reserve Bank of St. Louis

Bob Harris

Howard Nielsen

Member FDIC

John Lewis

Myron Peterson

US National
Bank Of Omaha




Donald J . M urphy, chairm an of
the United S tates National Bank, has
John R. Miller to
vice president.
Mr. Miller joined
the bank in 1980,
after serving six
years with N orth­
western National
Bank. He receiv­
ed his bachelors
and m asters deJ.R. MILLER

grees from the U niversity
N ebraska at Omaha.

of M argaret K. Cohn and Sandra S.
W are to personal banking officers,
Thom as C. Jackson to correspondent
banking officer and Sara M. M asters
to personnel officer.
Ms. Cohn joined the bank in 1968
as a teller. Ms. W are has served as a
personal banker since 1979. Mr.
Jackson joined U .S. National in 1973
as atelier. Ms. M asters, a University®
of Nebraska-Lincoln graduate, joined
the bank in 1978 as a trainee.



Also announced were the elections

--------------------------------------------------------------------------------------------------------------------------------- \

We are pleased to announce that
Thomas W. Cullinan
James C. Van Horn
are now associated with us
as Institutional
Account Executives
in our Lincoln office.
1221“ N” STREET • LINCOLN, NE 68508 • 402/474-3300

s fc c

Member New York Stock Exchange, Chicago Mercantile Exchange
and other Principal Stock and Commodity Exchanges.
Lincoln. Omaha. Grand Island, Hastings, Columbus, Shelby, Nebraska,
Des Moines, Atlantic, Cedar Rapids, Fort Dodge, Marshalltown, Iowa.
Kansas City, Missouri • Wichita, Kansas • Chicago, Illinois • Houston, Texas

for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis





F irst National Bank has an n o u n 0
ced the promotion of Eric S. Turille to
second vice presi­
dent in the bank
card division.
Mr. Turille is a
graduate of the
U niversity
N ebraska at Lin­
coln where he
received a BA
degree in finance
/accounting. He
joined F irst NaE S - TURILLE
tional in 1973 as a m anagem ent

Elected in Hastings
O .J. M cDougal, J r ., president
of City N ational Bank and T rus^
Company of H astings, has an­
nounced the election of Bruce
Bellamy to assistan t vice presidentconsumer loans. Mr. Bellamy is a
graduate of N ebraska Wesley a 4
U niversity. He was previously
associated with Commerce Group,

McCook National Promotion*!
Peter M. Graff, president of
McCook National Bank, has a n ­
nounced the following promotions:
Daniel Funk to senior vice presiden
and assistan t tru s t officer and Danies
Allen to assistan t operations and
security officer. Also, A ngus Garey
has joined the bank as a ssista n t vice
president and ag representative. H ^
was previously w ith Farm M arklandr

Jim Flodine, George McFadden, Fred Kuehl, Don Ostrand, Ralph Peterson.

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In Nebraska call us toll free at 800-642-9907 Outside Nebraska call us toll free at
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Northwestern Banker, May, 1981


Nebraska News

UPPER LEFT photo show s drive-up la n e s ^
w h ile in te rio r photo at rig h t show s one
o ffic e and part of extensive te lle r cou nters.
At left is an an tiqu e bookcase w ith stained
glass w in d o w s from
F irst N a tio n a l’s
o rig in a l b u ild in g . Lower photo show s B i ^
Henry, v.p ., dir. of m ktg ., presenting key™
to 1981 O ld sm o b ile C utlass Suprem e won
by Esther Joyce, a nurse at Veterans
H o spita l in Omaha, w hose key unlocked
the car after nearly 30,000 others had been
u n su cce ssfu l.

First of Omaha
Opens New Office


Digitized Northwestern
for FRASER Banker, May, 1981
Federal Reserve Bank of St. Louis

ODERN facilities, antiques and
nostalgia are given a tastefuL
blend in the new F irst N ational B an®
of Om aha facility located at 132nd
and W est Center Road in Omaha. The
turn of the century brick architecture
of the building itself is continued iji
the interior, w ith contemporar®
colors and lighting used to comple­
m ent it. For custom er service, the
facility offers parking for 80 cars,
seven drive-up lanes, eight w alk-ui^
teller locations and safe deposir
facilities for more than 4,000 boxes.
Equipm ent was furnished by LeFebure Corporation, Cedar Rapids, la.
The stained glass windows pic^
tured came from F irst N ational's
original building located at 13th &
Farnam Streets and have been
carefully stored for some years. The
bookcase in which they are m o u n te ^
came from the home of noted O m ahan™
Byron Reed, at whose desk the F irst
National charter was signed in 1863.
Mr. Reed’s home, then located at
25th & Dodge Streets, later becam e
the first home of Boys Town when it
was organized in the mid-1920’s.
Bill Gdovic, operations officer, is in
charge of business developm ent for
the office and Arlene Hall is facilit y
m anager.




cottS ° îiicet

co « * tc e "

* t\\e

«» G
Federal Reserve Bank of St. Louis


Northwestern Banker, May, 1981


Nebraska News

Lincoln News
Gateway Bank & Trust Company
has announced the appointment of
Ray A. Pont as vice president of the
loan division and the promotion of
Susan R. H ia tt to vice president of*
the operations division.

F irst



Before joining Gateway, Mr. P o n t#
was an exam iner for FD IC . He
graduated from the U niversity of
N ebraska at Lincoln and holds an
MBA from N orthw est M issouri State
U niversity.
Ms. H ia tt joined Gateway in 1975.
She gained officer sta tu s in 1980, and
has a BS degree from the U niversity
of N ebraska at Lincoln.

Bob Azelton

H. H. “Beanie” Broadhead

John Karn

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Member F.D.I.C.
for FRASERBanker, May, 1981
Federal Reserve Bank of St. Louis



Charles J . Burm eister, president of
F irst Mid America, has announced
th a t Thom as W. Cullinan and J a m e #
C. Van Horn have joined the staff of
F irst Mid America as institutional
account executives.
Mr. Cullinan formerly was general
m anager and co-owner of In d u s tria #
Tool and Supply of Lincoln.
Mr. Van Horn formerly was
assistan t dean of the College of A rts
and Science and assistan t professor
of finance at the U niversity o #
Nebraska, Lincoln.



Dave Lebsack, assistan t v i c ^
president, has been named m anage®
of NBC E a st Park, the newest office
of N ational Bank of Commerce,
located a t 66th and O Streets. The
largest autobank in Lincoln, iU
opened for business April 13 and w a *
featured in a special article in the
April N orthwestern B anker.
The new office has six drive-up
teller stations, as well as a d riv e -u ^
24-hour ATM, according to N B u
President Jam es Nissen. The interior
offers five teller windows, safe
deposit boxes, new accounts area and
other custom er service areas, all ii^
3,200 square feet of space.


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13th & M Sts. • P.O. Box 81008 • Lincoln, NE 68501
Phone: (800) 742-7462
Member, f .d .i .c .
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


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Federal Reserve Bank of St. Louis

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First National Bank Holds
Topping Off Ceremony

Maquoketa Promotions
Recently prom oted at M aquoketa
^ t a t e Bank were Elaine M arshall to
“ O fficer trainee, R uth Sheets to
assistan t cashier and Barb M arcus to

women. The group will meet
quarterly and will be asked to provide
M aquoketa S tate w ith constructive
criticism about its services and
suggest topics for program s, semi­
nars and workshops.

Marion Officer Promotion
Phil M orris, president of the F irst
National Bank of M arion, has
announced the election of Katherine
Sigsbee to personnel officer. Ms.
Sigsbee joined the bank in 1979 as
personnel adm inistrator.

National Bank of Waterloo
Plans Holding Company
Elaine Marshall, Ruth Sheets and Barb

officer trainee. The prom otions were
^ n n o u n c ed by Edw ard Tubbs,
chairm an, at the b an k ’s annual stock
holders m eeting.
M aquoketa S tate B ank’s W om en’s
Bank M onth “ Grand Finale’’ was
^attended by approxim ately 450 area
women a t Pearson Memorial Center
in M aquoketa recently. M aquoketa
S tate Bank holds this program
annually in appreciation of area
g fo m e n .

Again this year a daily radio
program during the m onth of M arch
saluted a “ M ystery W oman of the
D ay” and featured a m erchant.
N in e te e n “ m ystery wom en” were
guessed correctly and 20 local
m erchants participated
in the
A t the Grand Finale, William B.
O g le sb y , director of the audio-visual
center a t the U niversity of Iowa,
presented a slide program . The slides
of Iowa farm land and people were
syncronized w ith a Beethoven
S ym phony. Numerous door prizes
were awarded, and two $50 bingo
prizes were won. The grand prize was
a gold coin valued a t $200.
The bank also announced the
fo rm a tio n of a W omen’s A dvisory
Board which will consist of six area
Federal Reserve Bank of St. Louis

R. Scott Fetner, president of the
National Bank of W aterloo, has
announced the election of Earl F.
Y oungblut to the board. Mr.
Youngblut is a W aterloo area farmer
and formed the Youngblut Farm
Corporation, an agricultural retail
farm chemical and seed business.
Recent elections at N ational Bank
include Jam es Chizek to loan officer,
Joyce Brunko to m anaging officer of
the Crossroads Center office and
Lorenzo Creighton to com m unity
relations director.
Receiving prom otions are Curtis
Kyhl to senior vice president and
investm ent officer, Ju d y DeGroote to
assistan t vice president and Carol
Pierce to tru s t officer.
National Bank also announced
plans to form a bank holding
company th a t would acquire other
banks. The b an k ’s board of directors
has requested m anagem ent begin the
process of forming the holding
chairm an W.
Beecher has announced. The board
also asked m anagem ent to form an
investm ent advisory service for
individuals and comm unity banks.
The service is to be available in a few
m onths.
Mr. Fetner said plans are to have
the holding company in operation by
Jan u ary 1, 1982. The corporation is
subject to regulatory approval.

A ceremony to m ark the comple­
tion of the first phase of the F irst
National Bank of Sioux City building
project was held recently, announced
F irst N ational Bank President
Richard C. Taylor.
The “ topping off” ceremony was
held on the construction site at the
corner of F ifth & Pierce Streets. The
ceremony signaled the completion of
the structural steel phase of the
project. The m ayor, members of the
City Council, city m anager, represen­
tatives of labor, members of F irst
National B ank’s board of directors,
officers of F irst N ational Bank, as
well as other dignitaries were invited.
Those in attendance signed their
names to a white steel beam which
was then hoisted up and riveted in
The new building is scheduled for
completion in the spring of 1982. The
four story, 85,000 square feet, $5.5
million building was designed by
FE H Associates, Inc., of Sioux City.
W .A. Klinger, Inc. is the general
contractor for the project.

Joins Cedar Falls Bank
B etty L. Oxley has joined the F irst
National Bank of Cedar Falls as a
commercial loan officer. She is an
ag-business graduate of Iowa S tate
U niversity and was formerly with
N orthern T rust Company of Chicago.

ISU Honors Banker

RECOGNITION fo r his years of active
sup po rt of a g ric u ltu re in Iowa and the
nation was given to Thomas R. Smith
(rig h t) last m onth when he was presented
the Hall of Fame Award by the Ag C o un cil
of Iowa State U niversity. Mr. S m ith,
president of F id e lity Brenton Bank & T rust
Co., M a rsh a llto w n , is show n receiving the
award at a special Ag Day luncheon in Am es
from Kurt Hanson, president of the ISU
S tud ent Ag C o un cil.
Northwestern Banker, May, 1987


Iowa News

120 Bankers Visit Washington
RECORD group of 120 Iowa bankers and spouses
visited W ashington, D .C ., last m onth on the
annual trip of the Iowa Bankers Association to call on
the Iowa Congressional delegation and federal
regulatory officials. Leading the group were IB A
President Edw ard L. Tubbs, chairm an of M aquoketa
S tate Bank; IBA President-Elect Tom C. Dunlap,
chairm an and president, South Story Bank & T rust,
Slater; IBA Treasurer L.C. “ B ud” Pike, president of
Farm ers Savings Bank, G rundy Center, and IBA
Executive Vice President Neil Milner, as well as
Im m ediate P a st President Leslie H. Olson, president of
Toy N ational Bank, Sioux City.
A fter briefing sessions with staff mem bers of the
American Bankers Association, the group visited the
regulatory agencies, then made personal visits to Iowa
Senators and Representatives a t the Capitol. The Iowa
group also hosted a dinner attended by these regulatory
and Congressional people and some staff m em bers. □


Tom Dunlap: IBA Exec. V.P. Neil Milner; Rep. Bill Stanton (R.,
O hio), ranking m in o rity m em ber of the House Banking
C o m m itte e, and Ed Tubbs.

Wendy Grassley w ith her father, Sen. Charles Grassley, and IBA
Pres. Ed Tubbs and his w ife , Grace.

B ill Lee, pres., F arm ersT & S , B jffa lo Center, reviews a p o in t w ith
Sen. Roger Jepsen. At rig h t is Dee Jepsen.

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

IBA Treasurer Bud Pike w ith Rep. Cooper Evans, G rundy Center.


*Bemie Miller doesn't need
a lot o f coaching.
Leo Kane, Christy Armstrong and Bob Scott provide Bemie
Miller w ith expert, professional back-up in his correspondent
activities. But th a t doesn't mean Bemie has to call
tim e out every tim e you ask him fo r a
decision. His 26 years in th e business have
provided Bernie w ith th e expertise to call
his own plays. He can handle all your
needs, in your office, on his own.
W hether th e issue involves Federal
Reserve services, over-line loan
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A m e r ic a n C T r u s t
6 S a v in g s D an l^
The Benl^qf Opportunity
Town Clock Plaza Dubuque, Iowa 52001
Phone: 319/582-1841
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Iowa New;

Iowa Bankers Visit Washington, D.C.

Rep. Neal Smith chats w ith Dale Luckow, pres., D yersville N atl.

Tom Dunlap, Sen. Charles Grassley and IBA Im m ed. Past Pres.
Les Olson.

Brenton Banks Mark 100th Anniversary
H IS YEAR m arks the 100th
anniversary of the founding of
w hat is known today as Brenton
Banks, Inc. In 1881, William Henry
Brenton bought the Bank of Dallas
Center with two partners, thus
beginning the Brenton tradition.
Born in 1840, he moved to Iowa with
his parents, Dr. and M rs. Jam es
Brenton, in 1853. William Brenton
broke prairie land at th a t time to farm
with neighbors, then in 1861 began
farm ing on his own, startin g an
agricultural tradition for the Brenton
family th a t persists today.
Seven years after buying the Bank
of Dallas Center, William Brenton
bought out his two partners in 1888
and brought his two sons, Charles
and Clyde, into partnership with him.
Three years later, their sister, E va A.
Brenton McColl became associated
with the bank as cashier, one of the
early women bankers. W hen William
H. died in 1893, the Brenton brothers
formed a banking partnership.
In 1916, Clyde moved to Des
Moines and began an outstanding
banking career th a t later saw him
serve for some years as president of
the Iowa National Bank, which later
became the Iowa-Des Moines N ation­
al Bank. Charles continued a t the
Bank of Dallas Center, where his son,
W. Harold Brenton, entered the bank
in 1920. The partnership began
expanding, first to acquire the F irst
National Bank in Perry in 1926, then
founding the Jefferson S tate Bank in
In 1929, W . Harold Brenton moved
to the Iowa National Bank to join his

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

uncle as vice president of th a t
institution. The following year, the
B renton’s opened the Poweshiek
County National Bank in Grinnell,
ju st as the G reat Depression was
starting. I t was notable th a t despite
the hundreds of Iowa banks th a t
closed (there were 2,400 Iowa banks
at the s ta rt of the Depression) none of
the Brenton banks closed and no
custom er lost even one cent in their
W. Harold Brenton served as
president of the Iowa-Des Moines
N ational Bank from 1931 to 1933, at
which time he became vice president,
treasurer and a director of N orthw est
Bancorporation in M inneapolis, a
position he held until returning to
Iowa in 1941. Continued expansion
followed his return, including organi­
zation in 1948 of Brenton Companies,
the first bank holding company
organized within the state. This was
followed two years later in 1950 by
the com pany’s first entry into a
m etropolitan area with the opening of
the State Bank of Des Moines, now
known as the N orthw est Brenton
National Bank.
In 1947, Harold Brenton became
president of the Iowa Bankers
Association. Five years later, in
1952, he was elected president of the
American Bankers Association, the
first banker from the Hawkeye State
to hold th a t prestigious position. He
continued to give vigorous leadership
to the Brenton organization until his
death in Septem ber, 1968. His tenure
as head of the expanding holding
company was m arked by a philoso-

phy th a t placed executive responsi­
bility with each of the individual bank
m anagers.
Harold B renton’s three sons,
William H. Brenton, C. Robert
Brenton and J.C . (Buz) Brenton all
joined their father in Brenton
Companies, which by the tim e oU
Harold B renton’s death in 1968 hacP
been changed to Brenton Banks, Inc.
Bill Brenton, who joined the firm in
1949, succeeded his father as
chairman, after having been p re s i^
dent the preceding five years and alsm
president of Brenton N ational Bank
of Des Moines, which is located on the
same premises with
headquarters. Bill Brenton a l s ^
founded Brenco A utom ation Center,
Inc., which serves the ED P needs of
the Brenton banks.
Bob Brenton joined his father in
1956, and became president o ^
Brenton Banks, Inc., when his
brother became chairman.
founded Brenton Funds Transfer
System , Inc., which operates a
network of electronic
b a n k in g
term inals throughout Iowa.
Buz Brenton, Harold B renton’s
youngest son, has served as
executive vice president and tre a su r­
er of the organization for 11 y e a rs ^
His responsibility has been in
centralizing the tru st activities and
formation of Brenton M ortgages,
Inc. He started with the company in
1 ^
A t the time of Harold B renton’s
death, assets of the banks totaled
approxim ately $164 million. Under
the leadership of his three sons,
Brenton Banks, Inc., continued 0
rapid expansion of the num ber of


“Hey, see that cute little bank across the
street? Boy are her bricks stacked/’
“Yeah, me and the other stores on the street really like the looks of her . . . kind of adds a little
class to the whole block . . . y ’know what I mean7
“ Somebody named Kirk Gross Co. came in, started with her Foundations an ’had her put
together in no time at all. Boy they took care of everything from the bottom up . . . a real turn key
operation. Why, it was just a matter of weeks and there she stood . . . her big beautiful self.
“And believe me, I watched Kirk Gross put her together . . . Boy is SHE BUILT!”

(See Kirk Gross Co. if your new bank plans call for "a little class”)
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis


Know your
ustom ers.
_ook around. Banking has become one of
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ych about them as possible and keeping and how they’re doing. And any pertinent
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anks of Iowa Computer Services^

Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981

Iowa News

banks into new communities and in
size of existing banks to the point
where total assets a t the end of 1980
exceeded $700,000,000.
From the beginning 100 years ago
with the Bank of Dallas Center, the
Brenton family has parlayed its
banking business into 17 banks
serving 41 banking offices. Ten of the
banks and 12 offices are located in
prime ag counties, while seven banks
with 12 offices are located in four of
Iow a’s larger cities, Des Moines,
Cedar Rapids,
Davenport and
M arshalltown.

Decorah State Bank Salutes Farmers

Joins Richland Office
Raymond A. Brown has been
named m anager of the Richland office
of the Union Bank & T rust Company,
Ottum w a. He succeeds Ronald
Greeson, who has joined the
Hayesville Savings Bank.
A graduate of Iowa State
U niversity, Mr. Brown was an officer
at the Home T rust and Savings
Bank, Osage, from 1970 to 1977. He
was assistan t m anager of the Eldon
elevator from 1977 until 1979, and for
the past two years he has farm ed near

PRESENT at Decorah State Bank’s Farmers A p p re cia tio n N ight were, from le ft, Decora?
M ayor David Nelson; Robert Bergland, fo rm e r U.S. secretary of a g ricu ltu re ; Decorah State |
Bank President W illiam Ronan, and Mark Albers, vice president.

ORM ER U .S. Secretary of A gri­
culture Robert Bergland was the
main speaker at the annual Decorah
S tate Bank Farm ers Appreciation
N ight held recently a t M a tte r’s
Ballroom near Decorah.
Mr. Bergland reviewed how in his
farm ing career the situation has

Your Iowa Banker From
LaSalle National Bank

changed from “ worrying w hat to dol
about enormous surpluses t h ^ l
required quotas, to filling thel
demands of world m arkets where!
today one-third of our crop produc-l
tion is sold overseas.’’ He also notedl
th a t the U .S. ag industry will have
provide “ better seeds, livestock and!
high technology to meet the challenge!
of the 1980s.’’
Mr. Bergland then answeredl
questions from the audience
approxim ately 500.
M aster of ceremonies for thel
program was M ark Albers, vicel
president of the Decorah S tate BanUJ
He introduced Decorah M ayor Davml
Nelson, who expressed appreciation!
to the bank for holding such an event.
Mr. Albers also introduced W illiam|
Ronan, president, who told of tl
b ank’s efforts to “ provide outstanc
ing speakers” for this event, ant
noted th a t the bank will be observing
its 75th anniversary later this year.

Three Named in Emmetsburc

Dick is committed to serve your Bank’s needs. He’ll be able
to help you with Loans, Data Processing, Trust, Invest­
ments, or any other service you’ll need. So ask the
experienced Banker who knows and Iowa bankers n e e d call Dick at (312) 443-2769 or see him at the May Group

LaSalle National Bank ©
135S. LaSalle Street Chicago, III. 60690

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

Dennis Peterson has been namec
assistan t cashier at Iowa T rust ai
Savings Bank in Em m etsburg. M r!
Peterson joined the bank recently,!
and is a graduate of Drake University
with a BS degree in accounting. The
past four years he has been a bai
examiner for the State of Iowa.
Recent prom otions a t Iowa Trust
include Ed Norland, from vice
president to senior vice president,!
and Gary H ughes, from cashier
vice president and cashier.


An insurance company growth
chart. Not exactly the m ost interesting
thing to read.
Unless you’re an Iowa Banker’s
Insurance & Services customer.
Because being an IBIS customer
makes you a shareholder. So greater
growth brings you greater dividends.
From the sam e people who provide
you with expert help in designing
insurance programs tailored specifically



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4 3 0 Liberty Building, Des Moines, Iowa 5 0 3 0 8
Selling insurance protection just to banks.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Iowa News

CONFERRING before the m orning program were (from left): R. Tom Hay, pres., S ecurity State, Casey; Diane Berglund, MB sta ff, and
Frank Kos, general partner, M cG ladrey, H endrickson & Co. CPA firm , Des M oines. RIGHT— P a rticipa ting in the afternoon panel were
David Taylor (le ft), pres., lo w a T & S , C enterville; Bill Beohm (center), pres., Tama State, and pres.-elect of IIB, and John C. Dean, pres.,
G lenw ood State.

IIB Sponsors Accounting Seminar
N IN FO RM A TIV E one-day
seminar presented in Des Moines
last m onth by the Iowa Independent
Bankers was accurately titled, “ How
to Give a Good Account of Your
M oney.’’
The m orning program was devoted
to “ Cash Basis vs Accrual A ccount­
in g ,” and the afternoon program was
aimed at “ Investing for the 80s.”
F irst speaker on the morning
portion was Frank Kos, a general
partner in Des Moines with
M cGladrey Hendrickson & Co.,
certified public accounting firm. His
presentation was an extension of a
detailed outline prepared by his firm
to assist banks in analyzing their
needs for accrual accounting and
m ethods for im plem enting the
program . His talk dealt with theory
of the ledger on accrual/taxes on a
cash basis and the practical aspects of
giving life to accrual accounting,
steps to conversion of the m ethod and
benefits deriving from accrual use.
He was followed by Tom Hay,
president of the Security State Bank
in Casey, who gave a practical view
from a com m unity banker’s sta n d ­
point of w hat he did at his bank to
convert to accrual accounting.
The first of three afternoon
speakers was Jam es L. Kubik of
Griffin, Kubik, Stephens & Thom p­
son, Inc., Chicago investm ent
bankers. His topic was municipal
investing for the 80s. He examined
tax trading applications; new types
of municipal investing, including
floating rates and put option bonds;
and defensive/offensive strategy.
He was followed by A1 L auth, vice


 Banker, May, 1981
Federal Reserve Bank of St. Louis

president-portfolio division of F irst
Naitonal Bank in St. Louis. He
discussed the use of governm ents,
agencies and money m arket in stru ­
m ents in the bank portfolio. Mr.
L auth looked especially at m anaging
the gap,
U .S.
governm ent financing in the 80s.
The concluding speakers were
David Taylor, president, Iowa T rust
& Savings Bank in Centerville, and
John C. Dean, president of Glenwood
Sate Bank, who shared their practical
insights into investm ents for com­
m unity bankers.
Speakers were introduced by IIB
President H erm an Kilpper, presi­
dent, Bankers T ru st Company, Des
Moines, and IIB Vice President Bill
Beohm, president, Tam a S tate Bank.
A question/answ er session with
the panel of speakers concluded the

Joins Melbourne Bank
Jam es G. Anderson has joined the
Melbourne Savings Bank as a vice
according to
Hoppenw orth, president.
Mr. Anderson is a native of Jewell
and a graduate of Iowa State
U niversity, Ames. He has been vice
president and cashier of the First
S tate Bank, Haw arden. Previousl®
he had served as assistan t vice
president of the Randall-Story State

New Tipton Ag Rep
Jeffrey F. Meyer has
Tipton S tate Bank as ag
tive. He is a graduate of
U niversity and was
branch m anager of the
Credit Association office

joined the
Iowa State
p r e v io u ^
in Creston.

New Beaman Reps, Directe#
Dennis O strem has joined thi
Farm ers Savings Bank a t Beam an as
farm representative and insuranc
agent. He was formerly employ
with the W ebster City Product!
Credit Association in Iowa Falls, an<
has a BA degree in busines
adm inistration and economics iron
W estm ar College.
Brad Sm ith has joined the bam
as loan officer and assistan t farm rep
He will begin working in late May
following graduation from th<
U niversity of South D akota, w hw |
he is m ajoring in business adminis
Larry M cKibben, a M arshalltow
attorney, was appointed to the boarc
to fill the vacancy left by Dav^


Two guest speakers were James L. Kubik
(le ft), of G riffin , Kubik, Stephens &
Thom pson,
investm ent
C hicago, and AI Lauth, v.p., 1st N a tl., St.


J lg lP

S v S tG T T I





The newest innovations in banking are ready
for you at the National Bank of Waterloo
Computer Center. This new facility, staffed
by experienced bankers, is ready to serve you
with practical, efficient data processing

MOW Accounts"
U ll

find our correspondent banking and
data processing professionals responsive,
helpful and ready to meet your needs.
Call or write us today.

Y o u '^

National Bank o f W aterloo
Bank D ata Processing Professionals
Phone 1-800-772-2411 Waterloo, Iowa 50704
Federal Reserve Bank of St. Louis

Member Federal Reserve System

Northwestern Banker, May, 1981


Iowa News

Hawkeye Plans More Acquisitions
AW KEYE Bancorporation, Des
M oines-based m ulti bank hold­
ing company, announced plans at its
annual stockholders’ m eeting to
increase the com pany’s equity by
44% through the issuance of $30
million of convertible preferred stock.
The stock is being issued in
exchange for stock of United S tate
Bank, Cedar Rapids; Jackson S tate
Bank & T rust, M aquoketa, and
Capital City S tate Bank, Des
Moines, the acquisitions of which
have been recently announced. In
addition, the funds will be used to
finance other bank acquisitions in the
future. W hen completed, the tran sac­
tions will increase H aw keye’s net
worth to $105 million.
The several issues will carry a
dividend yield of 8% to 9.85% and

Paul Dunlap, pres., Hawkeye B ancorpora­
tio n , and Dr. Paul McCracken, Edm und Ezra
Day un ive rsity pro fe ssor of business
a d m in is tra tio n , U n iversity of M ich iga n.

autom atically convert into common
stock in seven to 12 years at
conversion prices ranging from
$16.16 to $16.50 per share. C urrently,
the stock is selling in this range which
is right at book value.
European Investors
Purchasers of $10 million of the
preferred stock were 30 European
institutional investors located in
England, Scotland and Switzerland.
Ten million dollars of preferred share
sale proceeds will be received by
Hawkeye during the third quarter.
Paul Dunlap, president of Hawkeye, explained, “ The decision by the
m anagem ent to increase our equity
base was prom pted by our desire to
take advantage of dram atic changes
we expect to occur. We hope to
complete our bank acquisition
program in Iowa which will bring our
share of the s ta te ’s deposits from
to the maximum
percentage of 8% . If we find bank
holding company regulatory barriers
are liberalized and we are allowed to
acquire banks in contiguous states,
our potential acquisition candidates
increase from 600 to 3,000. Banks
may also be perm itted to cross state
lines and acquire savings and loan
associations, a step currently under
consideration by the Federal Reserve
Board with a decision expected before
Rapid technological changes are
occurring in our industry with the
possibility of nationwide electronic

George Maher (le ft), pres., H o ug hton State Bank, Red Oak,
repeat w inne r of the “ Best Bank P o ssib le ” award, receives his
B an corp oratio n, w h ile Roger Stover, p ro fe sso r of e co n o m ics at
Iowa State U n iversity, Am es, looks on.

 Banker, May, 1981
Federal Reserve Bank of St. Louis

funds transfer on the near term
horizon. The phasing out o #
Regulation Q, which will remove the
lim itation on the interest rates we can
pay the small saver, will dram atically
impact our industry and for the first
time perm it us to compete on a ‘l e v ^
playing field’ with money m arket
funds and other financial institutions
for the savers’ dollars. These are the
industry changes we expect to
capitalize upon and our recenl
financing will help ensure we have
financial resources with which to do
Hawkeye now has 26 affiliate
banks with over 70 locations acrost
Iowa. Total assets are $1.2 billion,
and average earnings to assets in
1980 was 1.4. The H oughton State
Bank in Red Oak was the best
operating bank in the systerr^J
earning 2.4 on assets last year.
Included in plans for the future will be
a new building for Capital City State
Bank, Des Moines.

Mike W eil, exec, v.p ., Hawkeye B ancorpoi
atio n, v is its w ith Lewis Lowe, pres., Lyor
C ounty State Bank, Rock Rapids, w hose!
bank was one of the high est earners in th e |
com pany.

Dr. Paul McCracken (center) d iscu sse s a p o in t w ith Deryll
Hamann (le ft),
fo r
H awkeye]
B an corp oratio n, and Bob Murray (rig h t), sr. v.p. & con tr. o f|

You don’t have to
go longdistance


There are larger banks in bigger cities. But
when it com es to your investment needs, few
banks anywhere offer bigger or better service
than the professional staff of the lowa-Des
Moines Investment Department.
We have a full range of investment services
including Bond Accounting which allows us to
work closely(with you and your bank in the

planning of your bond portfolio. And, we now
have up-to-the-minute information on tax swap
availabilities through an on-line terminal.
Every member of our staff is an experienced
professional who can assist you in your
investment decisions. And your investment with
an Iowa bank is an investment in Iowa.
Call us to get a lot of help for your money,
right here in Iowa.





M em ber FDIC

John Hunt

Voldy Vanags

Janine Young

John Johnson

Roger Mahoney

Radona Watrous

© lowa-Des Moines National Bank
Federal Reserve Bank of St. Louis


Des Moines
OUR senior officer personnel
changes at the Iowa-Des Moines
N ational Bank were announced last
m onth by Eugene G. Precht,
president and chief executive officer
of the bank.
John A Sikkink, senior vice
president and cashier, has been
named head of the retail banking
departm ent. In this position, he will
have responsibility for the main
banking floor and the offices,
m arketing, advertising,
development and business develop-





m ent. He will continue to have
responsibility for data services and in
th a t capacity will continue to
represent the bank on the N orthw est
Com puter Services board. Mr.
Sikkink now will report directly to
George F. Milligan, executive vice
president, who heads m etropolitan
 Banker, May, 1981
Federal Reserve Bank of St. Louis

banking. Mr. Sikkink joined IowaDes Moines N ational in 1962, and
m ost recently headed the operating
departm ent.
Gary R. Rasmusson, who has been
group vice president under Mr.
Sikkink, now will assum e responsibil­
ity for operations m anagem ent to
replace Mr. Sikkink, and will assum e
added responsibility for facilities
m anagem ent. The latter departm ent
formerly reported to Peter F. Faletti,
who resigned last m onth as senior
vice president and chief financial
officer to accept a similar position
with the F irst N ational Bank of
Denver. Mr. Rasm usson now will
report to Dee L. Frost, executive vice
president. Mr. Rasm usson joined
N orthw est Bancorporation in 1962
and moved to the Iowa-Des Moines
N ational Bank seven years ago.
Dennis R. Morrison, vice president
and controller, has been given
additional responsibility for the
b an k ’s funds m anagem ent committee
and long-range planning, in addition
to his duties as controller. He has
been with the bank since October,
H. Lynn Horak, group vice
president-investm ent services, con­
tinues to m anage the investm ent
services and funds m anagem ent
departm ents and also will assum e
new responsibility for the com m uni­
cations center. He has been with the
bank since June, 1972.
Mr. M orrison and Mr. Horak both
will report to Mr. Frost.
* * *
Bankers T rust Company has
announced a new service for Iowa
banks. The service is called TA P
(Trust A ssistance Program ). J.

Michael Deege, vice president of the
tru st division for Bankers T rust
said, “ This is a unique opportunity
for Iow a’s independent banks to ta
the resources of the tru s t division. I
the past, some banks have be
unable to provide a complete range
tru st services for their custom ers
and, as a result of being unable to
provide those services, have seen
their best custom ers go elsewhere,
perhaps to another b a n k .’’
W ith the new TA P service
developed by Bankers T rust, inde­
pendent banks will be able to provide
a complete range of tru s t services to
their custom ers w ithout the cost
staffing and m aintaining their own
tru s t departm ent. Mr. Deege further
stated, “ This new service not only
offers banks an opportunity to
provide tru s t services to the
custom ers, b u t allows them to retain
the relationship with their cus­
tom ers.’’
The TA P program offers a flexible
tru s t accounting system to b a n l#
either as a direct on-line system or on
an indirect basis.
A nother feature of the program is a
complete investm ent notebook for
tru s t adm inistrators. The investm ent
notebook has been designed pri­
marily as an informational service for
TA P tru s t adm inistrators. I t is
updated weekly and keeps TAP^
custom ers informed about currem
stock and bond m arket develop­
m ents.
Complete estate and financial
planning services are also providedi
a p art of the TA P services. “ A
component services offered under the
T rust A ssistance Program emphasize
the importance of nam ing the local
bank as executor and trustee to
assure continuity and utilize tire
expertise available at the local level.
This is the first complete tru s t service
program of its kind offered to
independent b a n k s,’’ Mr. Deege sai
O ther components of the progra
include a training program for local
bank staff as well as m arketing
support. In addition, speakers will b
provided to assist in conducts
seminars sponsored by the loc
Anyone desiring any furthe
inform ation m ay obtain it by
contacting the tru s t division ^
Bankers T ru st Company,
* * *
Larry J . Glass, senior com p u ti




You may recognize these faces.
They’re the same correspondent
bankers who served you so well
when we were Central National Bank.
But now we’re United Central Bank
of Des Moines, one of eleven United
Central Banks across Iowa. We changed

our name to help communicate the
strength and unity in our eleven bank
holding company.
When you need correspondent
services, farm department services, or
data processing services, call
the professionals at United Central
Bank o f Des Moines, Toll-FREE,
1-800-362-1615 or 245-7261.


Security State Bank (A lg o n a )....................................................U N ITE D C EN TR A L B A N K & TR U S T C O M P A N Y OF A L G O N A
Cresco National Bank (Cresco)....................................................................................U N ITE D CEN TRA L B A N K OF CRESCO, N .A .
Central National Bank (Des Moines) ................................................................U N ITE D CEN TRA L B A N K OF DES M O IN E S , N .A .
Iowa Trust & Savings Bank (Estherville) ........................U N ITE D CEN TRA L B A N K A TR U S T C O M P A N Y OF ESTHERVILLE
Union Ttust & Savings Bank (Fort Dodge) ......................U N ITE D C EN TR A L B A N K & TR U S T C O M P A N Y OF FORT DODGE
Adair County State Bank (Greenfield) .............................U N IT E D CEN TRA L B A N K & TR U S T C O M P A N Y OF GREENFIELD
Kalona Savings Bank (Kalona)..................................................... K A L O H A 'S U N ITE D C EN TR A L B A N K & TR U S T C O M P A N Y
Iowa County Savings Bank (M arengo)..................................U N IT E D C EN TR A L B A N K & TR U S T C O M P A N Y OF M A R E N G O
United Home Bank & Trust Company (Mason City) . . . . U N IT E D C EN TRA L B A N K & TR U S T C O M P A N Y OF M A S O N C IT Y
First Trust & Union Savings Bank (Sigourney)..................U N ITE D C EN TRA L B A N K & TR U S T C O M P A N Y OF S IG O U R N E Y
Spencer National Bank (Spencer) ............................................................................U N ITE D CEN TRA L B A N K OF SPEN CER , N .A .

Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1981


Iowa News

First National
has a new
source of funds
for cattle and
grain loans.
agricultural credit corporation that is
a wholly owned, non-banking sub­
sidiary of First Midwest Bancorp., Inc.
First Agcorp is another of the
many correspondent services available
through the First National Bank of
St. Joseph. Just call John Kam,

“ M
Ha3S80r Where ypur
success is a

First National
St. Joseph, Missouri 64502

Call: (816) 279-2721
Affiliate of First Midwest Bancorp., Inc.

Digitized forNorthwestern
FRASER Banker, May, 1981
Federal Reserve Bank of St. Louis

Member F.D.I.C.

services officer a t Central N ational
Bank, was elected to the office #
secretary for the “ F .U .R .S .T . 82’s ”
Annual Banking Forum . The “ Flor­
ida Software Services and Users
Researching System s T ogether”
1981 conference was held in O rla n d #
Fla., in M arch.
Mr. Glass has a BA in business
from the U niversity of N orthern
Iowa, and has given presentations on
NOW accounts and bank c o m p u te#
* * *
Eugene G. Precht, president and
chief executive officer of the Io w ^
Des Moines N a­
tional Bank, re­
cently announced
th a t G. K urt
W ayne has join­
ed the staff of
Moines as vice
president, com­
mercial banking.
Mr. W ayne has
been with Capital
City Bank the past nine years,
serving as executive vice president
and member of the board.
Mr. W ayne attended Drake
U niversity, m ajoring in business
adm inistration.
Thom as N. H am m elm an, senior
vice president and m anager of t f t
card services di­
vision of the
Iowa-Des Moines
National Bank,
has been elected
to the board of
M asterC ard I n ­
ternational, Inc.
by the principal
member banks of
the corporation.
Mr. Ham m elm an T.N . HAM M ELM AN
joined Iowa-Des Moines in 1979 as
vice president of bank card services.
* * *
Chiles, Heider & Co., Inc., a full­
line regional investm ent banking firm
headquartered in
the opening of a
branch office at
612 Liberty Buil­
ding. The firm
said th a t Michael
W. Sparks, for­
mer president of
M unicipal Bank
C onsultants

Iowa News


Iowa, will m anage the office. Bill B.
le a v e r s , executive vice president,
said the new Des Moines office will
allow the firm to more efficiently
serve its Iowa clients.
Thomas J. Flynn was recently
named vice president of B renton
In c .’s
tru s t
# 4 r. Flynn was
formerly associ­
ated with the
F irst
Bank of M ason
# u ty where he
was vice presi­
dent and tru s t
officer. He re­
ceived his underT J - FLYNN
g ra d u a te and law degrees from Drake
U niversity.
* * *
J. Locke Macomber, president of
g a lle y N ational Bank, has announced
the elections of John R. Langin to
vice president and Charles H. Leibold
to tru s t officer.

iiÉ w







Mr. Langin will also be m anager of
the Highland Park office, and was
formerly a vice president with Capital
(Sty S tate Bank.
M r. Leibold was previously w ith
the law firm of Sm ith, Schneider and
Stiles P .C ., and has a BA degree from
tbe U niversity of Iowa and a law
cregree from Drake U niversity.
* * *
Bankers T rust Company, Iow a’s
In g e s t locally owned, independent
oank, has expanded its banking
facilities in suburban W indsor
H eights with the opening of a new
office at 70th and U niversity.
^ F e a tu re s of the dark brick and
glass building include a spacious
interior th a t affords easy access to all
banking areas, comfortable and
private conference rooms, seven
M l-service inside teller stations, five
arive-up teller lanes (one reserved for
Federal Reserve Bank of St. Louis

We are still committed to
making your bank stand apart
from the rest. Our good name
depends on It.
"Designers and Builders o f Financial institutions"


P.O. BOX 808

Waterloo, lowa 50704 (319) 234-1221

Northwestern Banker, May, 1981


Iowa News

U nited Central Bancshares Pres. Kenneth M. Myers (le ft), v is its
w ith guest speaker Dr. Robert J. Genetski (center), v.p. & chief
econ., Harris Bank, C hicago, and Ray Johnston, pres, of United
Central Bank of Des M oines.

Bob Millen (le ft), exec, v.p ., and Bill Bunten (rig h t), sr. exec, v.p.,
both w ith U nited Central Bank of Des M oines, get a c q u a in t ^
w ith Tom Martin, a.v.p ., H arris Bank, w ho is now assigned "

Central National Group Changes Name
of Central
N ational Bancshares, Inc., at
their annual m eeting in Des Moines
April 16, approved a change in the
corporate name to United Central
Bancshares, Inc. The change coin­
cided with a corresponding name
change for each of its 11 affiliate
banks, incorporating U nited Central
Bank as a p a rt of each name. Kenneth
M. M yers, president, stated, “ We
believe th a t these changes will result
in a far better identification of our
banks and contribute toward a more
effective state-w ide m arketing and
development program . This will
better position us for the com petitive
banking environm ent of the 80s and
the inevitable effects of the evolution
of interstate b an k in g .”
A t an earlier press conference, Mr.
M yers said “ interstate banking will
become a reality, bu t the time frame I
expected a year ago now is extended.
There will be no real action in ’81 or
’82, then I expect holding companies
will be perm itted to acquire troubled
banks across state lines; then by
SM SAs and outw ard from there. Our
name would be very appropriate for
the central p art of the co u n try .”
Mr. M yers reported to share­
holders a new first quarter earnings
record before security transactions of
$1,899,606, compared to $1,436,780
for the first quarter of 1980, an
increase of 32% . N et income was



commercial banking), and a wellilluminated autom ated teller.
Mike Fliss is office m anager at
W indsor H eights.
Ernie Banks, Chicago C ubs’ Hall
of Fam er, m et the public, signed
autographs and ran in a m ini­
m arathon at the grand opening of the
new W indsor H eights office May 2.

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

$1,900,856, also a 32% increase.
Both figures am ounted to 18 cents
per share income for the first quarter,
up 29% from 14 cents a year ago. Mr.
M yers attrib u ted the gain to a 15%
increase in net interest income, an
11.7% increase in non-interest
income, and a return to m ortgage
banking profitability.
MEMBER BANKS and th e ir new names are:
S ecurity State Bank, A lgona, to U nited
Central Bank & T rust C om pany of A lgona;
Cresco N ational Bank to U nited Central
Bank of Cresco, N .A .; Central N ational
Bank to U nited Central Bank of Des M oines,
N .A .;
Iowa T rust & Savings
E stherville, to U nited Central Bank & Trust
C om pany of E stherville; Union T rust &
Savings Bank, Ft. Dodge, to United Central
Bank & T rust C om pany of Fort Dodge;
A da ir C ounty State Bank, G reen field, to
U nited Central Bank & T rust C om pany of
G reenfield; K alona Savings
Bank to
Kalona’s U nited Central Bank & Trust
C om pany; Iowa C ounty Savings Bank,
M arengo, to United Central Bank & Trust
C om pany of M arengo; U nited Hom e Bank &
T rust C om pany, Mason C ity, to United
Central Bank & T rust C om pany of Mason
C ity; F irst T rust & Union Savings Bank,
S igourney, to U nited Central Bank & T rust
C om pany of S igourney, and Spencer
N ational Bank to U nited Central Bank of
Spencer, N .A.

Reagan package of budget and tax
cuts will regenerate productivity
gains and income for the nation. —
Following the annual m eeting, M r
M yers announced the election of
three new direc­
tors to the hold­
board. They are
F.M .
“ M ike”
Hum phreys,
president, Home
Lunber & Supply
Company, A sh­
land Kan.; Dr.
Lee R. Kolmer,
dean, College of F M. HUMPHREYS



A griculture and director, A griculture
and Home Economics, Iowa State
U niversity, Ames, and E.W . M as^|,
A t a noon luncheon attended by chairman and president of F irst
250 shareholders, bankers and Des National Bank, Le M ars, and Lakes
Moines businessm en, Dr. Robert J . National Bank, Arnolds Park, and
Genetski, vice president and chief chairman of Valley S tate Bank, Sioux
economist for H arris Bank, Chicago, City. R etiring directors are Robert <£.
gave his reasons why he believes the Pease and Paul H. W oods.
Mr. Banks was elected to baseball’s
Hall of Fam e in 1977 and ranks 11th
in all-time home-run hitters. Ed
Redfern, Bankers T ru s t’s director of
comm unications said the W indsor
H eights
Annual M ini-M arathon
consists of a 6.2 mile com petitive race
and a two-mile fun run. Both courses
s ta rt and finish at the new W indsor

H eights office and wind through the
suburb’s residential and business

Slater Stock Increase
South Story Bank & T rust in Slater
has increased its common stock from
$100,000 to $200,000 by tr a n s f e r a l
$100,000 from undivided profits.

Io w a N ew s



•0 6 C>.&va

• ART of the record crow d of 850 people at S ecu rity N ational B ank’s F inancial
S em inar liste n a tte n tiv e ly to p rin cip a l speaker Jessica Savitch, w ho is show n at right
in a clo se -u p pictu re.

ecurity National Financial Seminar
raws Record Crowd of 850 People
t t p XCELLENCE in the 80s”
was the them e for Security
N atio n al B ank’s Fourth A nnual
Financial Sem inar held last m onth at
the M arina Inn. Keynote speaker for
the evening sem inar was N B C’s
Jessica Savitch. Ms. Savitch is easily
^ c o g n iz e d as one of A m erica’s top
female broadcast journalists. Her
skills as anchor and correspondent
also have made her one of the m ost
successful in her field.
^ In accordance with this y ear’s
them e, Ms. S avitch’s address, “ In
P ursuit of Excellence,’’ provided

direction on how excellence can be
achieved personally and financially.
The sem inar also included three
financially related workshops.
Panelists for the workshop on
“You and Your C redit” were
Lawrence Slotsky, president of Sioux
City Credit Bureau and publisher of
the Daily Reporter; Lois Boone,
m anaging officer of Security N ation­
al’s M orningside branch office, and
M ary Kay Lagan, commercial loan
officer at Security.
W orkshop panelists for “ Your
R ight and Obligation to U nderstand

G uests enjoyed a reception fo llo w in g the address.
Federal Reserve Bank of St. Louis

M oney” included Carolyn Ohlfest,
CLU, N orthw estern M utual Life Ins.
Co., Sioux City; Robert Peterson,
v.p.-investm ents, Security National
Bank, and John Daniels, Sioux City
K athy Fisher, hum an resources
director for the Iowa Bankers
Association, Des Moines, conducted
the workshop on “ How You Can
Expand Your Personal G row th.”
According to Security National
M arketing Director Dave Holub, the
seminar was a huge success. “ The
m ost we’ve ever had for one of our
seminars was around 425. This year
we had over 850 in attendance. The
quality of our workshop speakers and
Jessica S avitch’s broad appeal were
certainly m ajor facto rs.”
Besides newspaper, radio and
statem ent stuffers, a speakers bureau
was set up th a t contacted close to 45
Sioux City clubs and organizations.
Personnel directors of m ajor busi­
nesses were contacted, as well as
country banks. Security Bank took
special pride in the fact th a t employes
from 35 banks from N orthw est Iowa,
South D akota, N ebraska,
M innesota, were in attendance.
Evaluation forms filled out by
those attending overwhelmingly
rated the seminar as excellent. The
feedback has been very positive
resulting in much goodwill and public
awareness for Security National
Bank, Mr. Holub stated.
Northwestern Banker, May, 1981


Iowa News

IBIS Conducts IDEA Annuity Seminars

ers less than the national prime
interest rate. The spread betw eeff
Iowa and national rates has been as
great as 5.02% in December, 1980.
This study, conducted by the Iowa
Bankers Association, included 347
rural and city banks from across th #
state. The compilation of this data
clearly shows th a t Iowa bankers
disregard the national prime when
setting their b an k ’s interest rate.
In respect to banks the economy iff
Iowa is based on the cost of funds at
the local level allowing Iowa bankers
to be more responsive to their
custom ers.

Hawkeye Bancorporation
Increases Dividend Again
A SERIES of 10 sem inars to info rm Iowa bankers about the new IDEA A n n u ity offered by
Iowa Bankers Insurance and Services was con du cte d in recent weeks by IBIS sta ff
personnel and Am erican R epublic Insurance C o., Des M oines, w h ich un de rw rites the
a n n u ity. Pictured at one of the sem ina rs are, from le ft: Roy E. Townsend, assoc, v.p.,
A m erican R epublic; Margie Schaefer, IBIS v.p. in charge of the IDEA A n n u ity, and Al
Tinder, IBIS exec. dir.

Iowa Group Meetings
Being Held in May
The first week of group m eetings
for the Iowa Bankers Association was
underway as this M ay issue went in
the mail. The second week of group
m eetings sta rts M onday, M ay 18
with Group 6 in Des Moines. Group 5
meets in Council Bluffs, M ay 19;
Group 12 on M ay 20 at Lake Okoboji,
and Group 3 m eets on May 21 in Clear
Program s for both weeks of group
m eetings have been printed in issues
of the Weekly Newsletter.

Merritt Krause
Joins IBIS Staff
M erritt K rause, CPCU, has joined
the staff of Iowa Bankers Insurance
and Services, Inc., according to
executive director Al Tinder. The
appointm ent was effective April 1.
Mr. Krause becomes an IB IS staff
vice president with responsibilities in
the property and casualty production
areas. He was previously employed
by Crum and F orster Insurance

Companies as production m anager of
the organization’s Omaha branch.
Mr. Krause is a graduate of the
U niversity of Iowa w ith a degree in
finance and insurance.

Survey: Iowa Banks Charge
Less Than Nat’l. Prime Rate
A survey of over 300 Iowa banks
has shown th a t in 17 of the last 22
m onths, they have charged custom-

May, 1981
Acorn P rin tin g ................................................................14
American Express Company Travelers Cheques . .12-13
American Nat’l. BK. &Tr. Co., Chicago........................ 34
American Nat’l. Bk. &Tr. Co., St. P a u l........................ 43
AmericanTr. & Sav. Bk., Dubuque .............................. 85
Associates C om m ercial................................................ 23
Banco Financial..............................................................47
Bank of A m e rica ..................................................10B-10C
Bank Building Corporation.......................................... 103
BankersTr. Co., Des M o in e s ........................................ 82
Banks of Iowa C om puterService............................ 88-89
B randt............................................................................. 7
Chase Manhattan Bank N .A........................................... 15
Continental Illinois Nat’l ............................................... 5
Curtis H o te l....................................................................56
Colorado Nat’l. Bk.......................................................... 71
Dawson H a il....................................................................24
DeLuxe Check P rin te rs..................................................27
Douglas G uardian..........................................................10
Drovers Bank of Chicago................................................ 21
First Banks of St. J o s e p h ........................................ 80,98
First Mid A m e ric a ..........................................................76
First Nat’l. Bk., C hicago............................................... 9
First Nat’l. Bk., Denver..................................................69
First Nat’l. Bk., Lincoln.................................................. 81

Northwestern Banker, May, 1981
Federal Reserve Bank of St. Louis

Hawkeye Bancorporation was #
pay its newly increased quarterly
cash dividend of $.22 per share on
May 1, 1981, to stockholders of
record April 15,1981. The new rate of
$.22 per share represents a 10 ff
increase over the former quarterly
rate of $.20 per share. The Des
Moines based m ulti-bank holding
company raised its cash dividend
twice in 1980. Thus, cash dividentff
have increased 26% in the past
twelve m onths. In addition, the
company paid a 5 % stock dividend in
December, 1980.
The new annualized dividend raff
of $.88 per share m arks the eighth
consecutive year of increased cash
dividend paym ents, reports Hawkeye
chairman Paul Dunlap.

Minneapolis . . .
St. P a u l............
St. Paul (Bonds)
Sioux C it y ........
Sioux Falls


Gross, Kirk, W aterloo................

. . .87

First Nat’l. Bk.,
First Nat’l. Bk.,
First Nat’l. Bk.,
First Nat’l. Bk.,
First Nat’l. Bk.,
First Nat’l. Bk.,

. . .45
. . .55
. . .58

Heller, Walter E............................................................... 17 \
Iowa Bankers Ins. & Services...................................
Iowa-Des Moines Nat’l. Bk...........................................104
Iowa-Des Moines Nat’l. Bk. (B on ds)............................ 95
. .101
E.F. Kooker& Associates...................
. . .90
LaSalle National Bank.........................
Manufacturers Hanover Tr. Co............
Merchants Nat’l. Bk., Cedar Rapids .
Midland Nat’l. Bk., M inn eap olis........
Mosler Safe com pany.........................
Nat'l. Bk. of Commerce, L in c o ln ........
Nat’l. Bk. of W aterloo.........................
North Dakota-Fargo Banks.................
Northwestern Nat’l. Bk., Minneapolis
Northwestern Nat’l. Bk., Sioux City .
Office Concepts.................................
Omaha Nat’l. Bk..................................
St. LouisTerm inal.............................
Security Nat’l. Bk., Sioux C ity ..........
United Central Bank of Des Moines ..
United Missouri B a n k .......................
U.S. Nat’l. Bk., O m aha.....................
VanWagenenG.D., M inneapolis.. . .

... 3

■••i l
. . .79
. . .93
. . .55


. . .19
. . .57
. . .97
. . .73



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