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I BAA convention report Focus on futures 1RS attacks formation of H .C .’s “Take a bite out of crime” Convention programs: • Colorado • North Dakota • South Dakota https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Brenton Banks Mark 100th Anniversary MNB Senior Vice President on “The importance of creative ^ thinking in correspondent A i*. « • ‘' 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 Safekeeping. "At MNB, we expect originality and we encourage innovation. In cor 1 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 customers." 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 CEDAR RAPIDS, IOWA A BANKS OF IOWA BANK Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 A SECURITIES SERVICES SPECTACULAR! 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 https://fraser.stlouisfed.org 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. MANUFACTURERS HANOVER America’s premier correspondent bank National Division, 350 Park Avenue. New York, N.Y. 10022 Membe fdic Northwestern Banker, May, 1981 28 N O M EST ER N 'oemcft' MAY 1981 • 88th Year • No. 1412 OLDEST FINANCIAL JOURNAL SERVING THE CENTRAL AND WESTERN STATES tv > MEMBER OF AUDIT BUREAU OF CIRCULATION • MEMBER BANK MARKETING ASSOCIATION ON THE COVER 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. 3% FEATURES 25 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 28 IBAA elects W .C. Bennett president C onvention report and p ictu res from Las Vegas— M alcolm Freeland 32 Fed announces check fee schedule Charges fo r tra n sa ctio n s at m id w est Fed banks are liste d 33 50 <D T3 W Hold your own in the ’80s (5 co “to Report on United Bank of Denver conference CONVENTION PROGRAMS in c E ° 36 .e DEPARTMENTS 6 8 14 35 38 40 o 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 67 67 74 76 80 83 96 to Q 5S 60 < (n/> < (/> «I M ontana W yom in g Nebraska Omaha L inco ln Iowa Des M oines S C in to <D CO q _ ra •>5<0 CO Q O ~Z . o Üz This issue contains additional pages numbered 10a, 10b, 10c, 10d. NORTHW ESTERN BANKER 30615th Street, Des Moines, Iowa50309 Phone (515) 244-8163 Publisher 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 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 BANK Continental Illinois National Bank and Trust Company of Chicago 231 South LaSalle Street, Chicago, Illinois 60693 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 6 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. Fees for which there previously Canada 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. N 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, 23rd Annual 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 Branch Bank Loan 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 https://fraser.stlouisfed.org 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 Colorado: J u n e 3 -6 — CBA A nnual C onvention, Broad m oor H o te l, C olorado S pring s, Col. Illinois: 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 Lending S chool, Illin o is State U n iversity, N orm al, III. 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. Sept. 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. ^ Iowa: 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. Minnesota: 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. Montana: June 24-26— MBA A nnual C o nvention, Big Sky of M ontana, Big Sky, M ont. £ Nebraska: 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. Sept. 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. Wyoming: June 10-12— W BA A nnual C o n v e n tio n Jackson Lake Lodge, M oran, W yo. o_ ! M P P 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 r L Bank Prom otions ROMOTIONS and other a n nouncements have been made by P 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 c~~ S IN G L E IN T E R E S T ^ IN S U R A N C E For Installment Loans r B L A N K E T S IN G L E IN T E R E S T ^ IN D IV ID U A L S IN G L E IN T E R E S T P R O G R A M S • A u to m a te d • M anual ___ J P R O T E C T YO U R L O A N S A G A IN S T T H O S E P H Y S IC A L D A M A G E L O SSES. C O N T A C T US A B O U T A P R O G R A M FOR YO U R BA N K . call or write: [ " G.D. V A N W A G E N E N CO. 1678 Northwestern Bank Bldg. Minneapolis, MN 55402 (612) 333-2261 V 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 # division. 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. Mr. Varnerin, a commercial the tru st departm ent as a senior tru st banking officer, has been with F irst officer. Chicago for seven years, with Continental Bank, Chicago: W es commercial lending experiencegained ton R. Christopherson, 55, chairm an from working in the banM 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 D. VARNERIN P.A. GARGULA 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 City: 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. promoted 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 officer. Personal banking 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 president. 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 Northwestern https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9 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. FIRST CHICAGO 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 . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 10 F irst N ational B ank in St. Louis: A lbert W. L auth has joined the bank as vice president, bond 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 A W- LAUTH 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 president and m anager of the tru s t d epart m ent, according to Edw ard M. Carson, presi 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, Philippines. M anufacturers H anover Corpora tion, New York: Form ation of a venture capital subsidiary, M anu facturers H an over Venture 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. He T J ' SA N D LEITN ER 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. T.L. MALLMAN Douglas-Guardian Warehouse Corporation P.O. Box 52978 New O rleans, LA 70152 Banker, May, 1981 Northwestern https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J.A. VEEDER 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 cashier, accor ding to an a n nouncement by Henry K. G ard ner, president. Mr. Sw anquist joined the b ank’s executive loan division. A grad B.M . SWANQUISJ 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 executive vice president. E.L . Burch, who joined the bank in 1965, supervises the correspondent bank division of the business de velopment 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 am 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. 10A Does your correspondent banker handle each loan request personally? 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MERCRflTIIE FROM TOP TO THE B 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. WE’RE G O IN G A LONG WAY TO MAINTAIN OPERATIONAL EFFICIENCY. 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. WE’RE G O IN G A LONG WAY TO SUPPORT YOUR SALES EFFORT. 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. < WE’RE G O IN G A LONG WAY TO MINIMIZE RISKS. 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P .\C > HT SERVICE MUÑE. WE’RE G O IN G A LONG WAY TO SATISFY YOUR CUSTOMERS. 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. WE’RE G O IN G A LONG WAY TO INCREASE YOUR PROFITS. 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. BA CHEQUE CORPORATION m a BankA merica Company BANKAMERICA TRAVELERS CHEQUES Were going a long way for you. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10D 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 T 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 T cash m anagem ent services for license https://fraser.stlouisfed.org 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 subscribers extensive trainin 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, Conn.; Dallas; Lo Angeles; San Francisco; Chicago and Columbia, M d.; The schedule 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 background. 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 ters. 11 Every vault door Mosler makes has to meet the toughes^m ost uncompromising 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. Mosler An American-Standard Company Hamilton, O hio 45012 Where quality products are the product of quality people. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 Introducing 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis j https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Corporate ROMOTIONS and other an P nouncements have been made by the following firms: Banco Financial Corporation, Minneapolis: Directors recently named Lee T. M ork executive vice president, Robert L. Olson senior vice president, and Harold Brandel and Jeffrey A. Reed assistan t vice presidents. L.T. MORK R.L. OLSON H. W AHL E.F. WEARSTLER F.D. ROBINSON 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 officer. 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 M .R. VOIGT Mr. Reed joined the company in ger. In his new 1978. 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 souri. Registers "Accepted Sale Registers by Bank LeFebure, Cedar Rapids, la.: Clerks Everywhere" Three salesmen were awarded Tor in fo rm a tio n w r i te mem bership in the com pany’s THE ACORN PRINTING CO. exclusive Million Dollar Club at the Oakland, Iowa annual sales m eeting held recently at H. BRANDEL J.A. REED ACORN Digitized Northwestern for FRASER Banker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J.L. DUDASH 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 years. 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 newly created position of assistan t vice president, m ar keting and sales, acording to Jam es A. Coch rane, president of the firm. N.A. CRAM Q 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- ase. ■ 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Margaret C. Sipperly, Relationship Manager, Correspondent Banking of one of the client’s pizza specialties, King Arthur’s Supreme. 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 | j always count on your | | | Chase Relationship Manager. ■- Northwestern Banker, May, 1981 16 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 T 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 gainst women In discussing two c o n tro v e rsial tor, installation and minorities 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 chairman and in anticipation of litigation. ced by J . M ac chief executive “ The law perm its us to withholcL Donald, senior officer, at the information of this nature and, in vice presidentC .M . BLISS annual m eeting fact, this premise recently was upheld sales, installa of stockholders of H arris Bankcorp, in a Supreme Court case. More tion and service. Inc. 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 executives. 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 Avenue, 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17 FIN A N C IA L F U E L FROM H E L L E R 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 customer. Through participations, banks of all sizes are benefiting from Heller’s more than 60 years of experience. 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. HELLER Financial Services "Financial Fuel from Heller" is a service mark of W alter E. Heller & Company. 9 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 18 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 G raduate School of Business, com pany du rin g the p rior year. The 1980 awards were based on orders received Indiana U niversity, 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 funds. 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. C Northwestern Banker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19 Uncertainty. 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 . SLT WAREHOUSE COMPANY P.O. Box 242, St. Louis, Mo. 63166 • 3 14 /2 41 9750 • Offices in Maior Cities N A T IO N W ID E C O L L A T E R A L C O N T R O L S E R V IC E S https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 20 American Express Offers 5 New Services For Travelers Cheque Refund Claimants M ERICAN Express Company A now will provide five new, exclusive servic es free-of-charge to individuals whose American Express T ravel ers Cheques have been lost or sto len, according to Michael E. Live ly, president, American Ex press Travelers M LIVELY 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 have lost all 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 reservations. • 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 https://fraser.stlouisfed.org 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 . f 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 service. if 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 Canada. “ 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 refund.’’ Howard Bell To Retire Howard Bell, executive director c£ the Independent Bankers A ssocia tion of America, is retiring as top staff officer effec tive December 31, 1981. Special recog nition was given to Mr. Bell a t the 51st annual con vention in Las Vegas last m onth. The 64year old Mr. Bell will leave the post after 18 years of service w ith t h # organization. "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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member FDIC Member Federal Reserve System Northwestern Banker, May, 1981 22 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) MINNESOTA *1 . 2. 3. **4 . 5. 6. 7. 8. 9. 10. 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 $2,471,075 1,767,495 1,072,897 805,286 682,649 255,625 202,643 190,765 160,817 156,809 Savings $1,902,712 1,310,309 888,875 608,634 492,649 177,332 180,862 164,111 126,673 135,849 M ort. Loans $2,060,223 1,169,353 958,005 681,227 504,317 202,690 157,048 162,330 133,528 132,083 *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. IOWA 1. 2. 3. 4. 5, 6. 7. 8. Assets $604,087 594,354 532,516 363,602 238,764 228,649 226,515 215,742 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 ........................ Savings $491,358 486,992 415,239 284,801 207,153 201,286 194,405 170,855 Mort. Loans $468,157 522,610 447,051 298,644 198,145 189,388 179,474 138,869 Savings $954,986 682,272 345,927 260,335 141,891 Mort. Loans $1,113,903 717,631 397,624 301,163 155,933 Savings $195,902 158,865 109,317 78,777 73,445 Mort. Loans $152,063 143,570 99,994 77,411 69,968 Savings $450,296 465,908 235,369 171,873 146,605 Mort. Loans $490,185 481,329 218,697 173,630 163,489 Savings $195,311 145,688 140,381 122,061 116,580 Mort. Loans $189,143 142,778 135,855 111,938 118,762 Savings $214,984 208,153 149,379 61,102 67,443 Mort. Loans $226,507 129,099 166,019 71,057 65,117 Savings $972,351 756,099 756,957 666,085 646,602 Mort. Loans $1,016,683 916,653 813,300 764,295 655,215 NEBRASKA 1. 2. 3. 4. 5. 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 ...................... .......................... ........................... .......................... ........................... ........................... Assets $1,338,742 886,973 475,883 348,117 179,713 SOUTH DAKOTA 1. 2. 3. 4. 5. 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 .. . .......................... .......................... .......................... ........................... .......................... Assets $233,174 178,388 120,369 87,522 82,250 NORTH DAKOTA 1. 2. 3. 4. 5. 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 . . . . .......................... .......................... .......................... .......................... ........................... Assets $625,185 582,272 287,640 227,924 194,255 MONTANA 1. 2. 3. 4. 5. 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 .................... ......... ......... ......... ......... ......... Assets $223,061 165,464 160,370 140,210 135,323 WYOMING 1. 2. 3. 4. 5. 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 ...................... ......... ......... ......... ......... ......... Assets $265,635 222,562 194,821 80,466 77,230 COLORADO 1. 2. 3. 4. 5. 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis .......................... ........................... ........................... .......................... .......................... Assets $1,254,100 1,096,666 1,041,558 890,830 876,145 Mercantile Trust Opens Money Museum to Public 4 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. 23 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 24 After 64 years DAWSON HAIL INSURANCE 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. O Competitive premiums, prompt, courteous service and fair loss adjustments have been as consistent as our name. r “The Premium Won’t Jim Dawson Bob Dawson Lyle Askerooth You . A Loss Might!” Tom Dawson 205 SOUTH EIGHTH STREET 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. V Dennis “ Chris” Christofferson Norm Selzle DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Pat Dawson Bev Ingersoll ____________________ ________________ J 25 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 By BEN HALLER, JR. million of the $100,000 CDs were issued a t 15 Vi % . Editor 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 31. 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 again. 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 W $ 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 5-25 25-100 100-300 300-1,000 o v e r l,000 9.6% 14.6 12.9 16.2 20.9 ‘ Source: A m erican Bankers A s s o c ia tio n . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 27.5% 22.6 27.7 26.9 27.8 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 26 Growth of Money Market Funds* (in b illio n s ) $1 20.0 112. 3 $100.0 $ 80.0 ?6.:i 7A.A $ 60.0 45.2 $ 40.0 $ 20.0 25.9 1_0__9 ■ 1 1 2 /3 1 /7 8 6 /3 0 /7 9 0 i 1 1 1 I 1 2 /3 1 /7 9 6 /3 0 /8 0 1 2 /3 1 /8 0 3/31/81 ‘ 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* 1% .5% _______ 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 DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org 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 Richard P ra tt, was 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* 1000 900 800 700 600 500 400 300 200 100 i 1 1 1 ¡ 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. u 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 line...so 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 . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 28 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 By MALCOLM FREELAND Publisher 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 29 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 lines. 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 30 X:w 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. tions. 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. Challenges 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. DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 31 K * 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. if I i 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 32 Fed announces check fee schedule H E Federal Reserve Board recently T 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. □ APPENDIX I FEE SCHEDULE FOR FEDERAL RESERVE COMMERCIAL CHECK SERVICES (in cents per item) E ffe c t iv e August I , 1981 TYPES OF CASH LETTER DEPOSITS1 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 Other Mi xed Fed Sent To: Federal Reserve O ffic e CHICAGO DETROIT DES MOINES INDIANAPOLIS MILWAUKEE ST. LOUIS LITTLE ROCK LOUISVILLE MEMPHIS ) ) ) ) MINNEAPOLIS HELENA ) ) KANSAS CITY DENVER OKLAHOMA CITY OMAHA Non3 Machineable 2.94 1.57 1 .99 1.50 1.82 5.02 3.98 4.47 3.79 4.06 2.36 1 .46 1.65 1.24 1.41 2.94 1 .57 1 .99 1.50 1.82 0.94 0.56 0.73 0.48 0.61 — 6.29 3.97 5.88 3.23 3.59 2.51 4.54 2.06 2.51 0.78 — 5.09 2.22 4.68 1.80 2.22 0.62 2.10 5.60 2.80 Ì .63 1.90 1.76 4.67 3.97 4.11 4.06 2.12 1.24 1.52 1.27 2.80 1.63 1.90 1.76 0.45 0.72 0.67 0.46 0.89 7.55 7.98 6.94 6.26 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 the American Bankers Associ ation in its 1981 National M arket ing Conference May 31-June 3 at the Fairm ont R.A. KIRK DigitizedNorthwestern for FRASER Banker, May, 1981 https://fraser.stlouisfed.org 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 Country Package Group or RCPC Sort Ci ty Sort 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 pants. 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 (20 467-4887. 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 By MALCOLM FREELAND Publisher 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 restaurant. 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 https://fraser.stlouisfed.org 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 institutions. 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 banks. 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 customers. 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis II ^ 35 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. Illinois 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 T 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 of Springfield. Mr. B rubaker oined the bank in 1974 as vice president in the lending division, and in 1976 was Elected executive vice president 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 https://fraser.stlouisfed.org 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 Company, has announced the 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 proved. 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 Bank & 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 36 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. T Noon P.M. 6:00 8:00 CHARLES L. DAILY 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 . 7:30 9:00 9:30 11:30 Noon P.M. 2:00 3:00 4:00 7:00 8:00 9:00 10:00 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 Luncheon 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, Mo. 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 Dance Friday, May 15 AM. 7:30 8:30 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, Springfield. 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, Chicago. Remarks: Incom ing chairm an of AM BI. DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J.B. WATT P resident Illinois News 9:45 10:30 10:45 «11! oon P.M. 12:15 1:45 2:00 37 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. Adjourn 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 T.H . ROBERTS 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 recently. * * * Chicago ^ 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. W Ill 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 bad. 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. * * * Chicago City Bank and https://fraser.stlouisfed.org 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 Chicago. 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 houses. 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 of The Riggs N ational Bank of vice president in the commercial W ashington, 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 38 Balloons Signal Beginning For First Bank Robbinsdale • Minnesota 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. R 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, Ground 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 . DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org 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. 39 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. https://fraser.stlouisfed.org 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 world. “ 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 40 Twin Cities IRST Bank Minneapolis has a n nounced theprom otions of Robert F A. Pitner and Bernard E. Conlin to senior vice presidents. Mr. Pitner, formerly vice president and director of m arketing, join ed the bank in 1978. Mr. Conlin is now head of the operations R-A‘ PITNER group, and joined F irst Bank in 1958. In the correspondent banking departm ent, Jerome R. Larson, B.E. CONLIN F. ZIEGLER D.R. HOGANSON R.G. BORGESON S.J. GOVE J. LARSON D.C. JONES M .O. VOGEL J.J. SMITH DigitizedNorthwestern for FRASER Banker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Twin Cities m etro area to the national banking east division. <9 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 W. NAIBI N. FRANK S.L. DRAKE D.G. G UIMOND D. FEIGENBAUM T .M . DIRNBERGER R.L. GUTHART assistan t vice president formerly representing the northern M innesota area, replaces Franklin L. Brosseau as Twin Cities area correspondent banker. 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 anco 401 Second Ave. So., 55480 Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 42 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 States; 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 Robert Stassen has president of tru s t adm inistration and dent J. the John L. Clay vice president of announced promotion of Mel affiliate m arketing. Krech from a s sistant cashier to assistan t vice president. Mr. Krech joined W est St. Paul S tate in 1978 after gaining seven y ears’ ex perience with F irst S tate Bank of Spring Lake Park D.S. FARLEY J.L. CLAY 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. <fl 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 ident. D.S. HANSON R.L. SHEPLEY M r. Krupke 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 B‘ KRUPKE 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. Cloud Gowan as vice president and head of U niversity. O FFICIALS o f N orth w e ste rn Bell Tele 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 lis. 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. services. 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 tion. 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 each. Banker, May, 1981 Northwestern https://fraser.stlouisfed.org 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 44 Minnesota News Truman Jeffers Marks 20th Anniversary With MBA By Attending a Conference! N TH E 20th anniversary of his O 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 Bankers Association 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 soon 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 $700,000. 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 By BEN HALLER, JR. 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. DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 45 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 gyrate. 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 https://fraser.stlouisfed.org 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 46 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 area. 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 DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis director. 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. P. CORRIGAN W. LEBOEUF M. STENERSON G .M . W ILLIAMS W. LEININGER S. KAPOLKA T .H . PERRY P. MEANS 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 K. DAHL 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 York. 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. 47 C a p ita l T via I Banco I F in an cial Corp. I w 1 C a p ita l via Lease N o rth w e s t 1 * 1 ■ ONE WAYOR ANOTHER, WE CAN LEAD YOUR CLIENTS TO WORKING CAPITAL. Use Your Asset Power. Get more mileage out of each dollar. Your assets can secure a tailor-m ade revolving credit line. A ccounts receivable, inventories, machinery, equipm ent, land and buildings can be turned into Asset Money™ It’s the sm oothest route for com panies short on working capital, those look ing toward expansion or growing firms eager to increase sales. Or money for buy-outs, m ergers and acquisitions. Bank participations. Banco Financial Corporation can help get your com pany off to a great future with Asset Money. C ontact John Olson, Lee Mork, Robert Olson, Paul Weingart, or Jack Hart, (612) 372-7988, 780 Northstar Center, Minneapolis, Minnesota 55402. Clients with considerable working capital may wish to conserve it by leasing needed equipment. Decide on a Lease Purchase Contract with a guaranteed purchase option at the end of the term. Go with a leverage lease or purchase equipment outright. Whatever your clients’ business, whatever the equipment they need-Lease Northwest, Inc. has the financing options that put it to work. Contact Dave Michael in Minneapolis at (612) 372-7416, Roger Meier in Omaha at (402) 536-2310, Jim Sheedy in Des Moines at (515) 245-3392, or Chris Hoss in Fargo at (701) 293-8136 Lease Northwest, Inc. Affiliated with Northwest Bancorporation ------ Financial Corporation An Affiliate of Northwest Bancorporation https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 48 Minnesota News 254 Attend Minnesota Marketing Conference H E CH AN GING face of the banking public, ranging from T 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 registrants. 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 banking.’’ 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. By BEN HALLER, JR. 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 an 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. Northwestern Banker, May, 1981 https://fraser.stlouisfed.org 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. □ 49 Bonanza State Bank Completes New Building H E NEW Bonanza S tate Bank was completed recently, and is T 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 years. 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 second officer. Mr. Johnson be gan his banking career in 1970 as ^ m ag representa tiv e at F irst Bank Havre, M ont. He was m ost recently mployed as lia4 on credit officer P.B. JO HNSO N 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 . https://fraser.stlouisfed.org 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 western Bank, then 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. At N orthw estern Insurance 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. E. DECOWSKI E.S. PALM 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 50 J .W .T H O M S O N President N.E. TURNQUIST F irst Vice Pres. D.O. M EHLHA FF Second Vice Pres. J.M . SCHW ARTZ Exec. M anager 89th Annual South Dakota Bankers Association Convention * May 11 & 12 Sioux Falls Convention Hall & Downtown Holiday Inn Sioux Falls, S.D. H. HAUGO C onvention C h m r. iiP 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. D. MacARTHUR II Sunday, May 10 P.M. 4:00 10:00 O R egistration desk opens, Downtown Holiday Inn. Golf, tennis and bowling inform ation available. R egistration desk closes. Monday, May 11 ® A.M. 8:00 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. L. GUNDERSON Northwestern Banker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.M. 1:00 R egistration desk opens, Sioux Falls Convention Hall. 1:00 Tennis tournam ent, W oodLake Racquet Club £ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org 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 situations. 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 back-up. 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 54 South Dakota News 1:30 2:00 3:00 6:00 8:00 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 AM. 7:30 8:00 9:00 12:00 P.M . 2:00 6:00 7:00 8:00 9:00 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, Minneapolis. • 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. P.S. NADLER Increase Capital Stock The following South D akota banks amended their articles of incorpora tion to increase capital stock: Northwestern Banker, May, 1981 https://fraser.stlouisfed.org 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. 55 INVESTMENTS: JUST ONE OF OUR CORRESPONDENTSERVICES. 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 712/277-0618 712/277-0614 Choose one of our services or as many as you need: ITEM CLEARANCE You get an accurate, efficient system for obtaining the best availability of your funds to help increase the profitability of your bank. LOANS You get a full range of loan services including overline and liquidity loans, assistance with your ag loans, commercial loans and others. • CREDIT CARD SERVICES 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. TRUST ACCOUNTS You get an entire department of Trust professionals to assist you in meeting your client’s needs. DATA PROCESSING You get the speed and efficiency of the Banks of Iowa computers, plus the most successful EFTS/Instant Access processor in the territory. GENERAL CONSULTING You get our guarantee that whether you need a specific service, or just an idea or two, First National is always ready to help. SEE YOU AT THE SOUTH DAKOTA CONVENTION AND IOWA GROUP MEETINGS. First National Bank m MEMBER FDIC • 712-277-1500 • Sioux City, Iowa 51101 • A ‘BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 56 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 T 11 - 12 . Chicago 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. Lincoln 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 tative. Marquette National Bank: William A ddington, vice president, and Richard E. Holmes, assistan t vice president. 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. Omaha Minneapolis 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 officer. 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. $10 Chiles, Heider & Company, Omaha, Nebr.: Fred Douglas, sales representative. CASH REBATE Daktronics, Inc., Brookings, S.D.: Elmer W eisser, director of scoreboard sales. 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. ‘THE IDEAL HOTEL FOR BUSINESS TRAVELERS' 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. & Northwestern Banker, May, 1987 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis LeFebure Corporation, Cedar Rapids, la.: Finley Jackson, regional sales m anager, and Gregg Headrick, sales engineer. South Dakota News 57 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, representative. SDBA1981 Exhibitors 89th Annual Convention Sioux Falls, May 11 &12 Best Business Products Sioux Falls, South D akota Best Typewriters & Business Machines 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 Company 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 & Microfilm Lincoln, N ebraska Upper Midwest Automated Clearing _ House A ss’n. ^M inneapolis, M innesota https://fraser.stlouisfed.org 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. A Security Correspondent Bankers Top to Bottom Jim Hongslo Steve Hatz Ken Roeder Wilma Weeks Jim Young SECURITY N A TIO N A L B A N K Western Iowa’s Largest SIOUX CITY, IOWA 51101 7 1 2 / 277-6554 MEMBER F.DJ.C. © 1 9 8 0 Security National Bank Northwestern Banker, May, 1981 58 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 vice president 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, N.D. Mr. Scofield 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 Well see you a t the convention. 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 North. A.E. OTTO D.J. STERN 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. FirstSiouxFalls People Banking on People 100 South Phillips Avenue Sioux Falls, SD 57102 The First National Bank in Sioux Falls Member F.D.I.C. Northwestern Banker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cletus Hart Dies L. G ERLEMAN L. ZYCH 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. 59 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. https://fraser.stlouisfed.org 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 60 96th Annual North Dakota Bankers Association Convention May 18-19 Fargo Holiday Inn, Fargo ARGO Holiday Inn will be headquarters for the F 96th annual N orth D akota Bankers Association annual convention to be held M ay 18 and 19. The first C .N . DAVIS President T.A. RONEY P res.-Elect J.M . McGINLEY Vice Pres. H .J . ARGUE Exec. D irector A.I. OLSON W .H . KENNEDY, JR. D. KIKER G . BLANDA 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 . 7:30 8:00 M en’s Golf T ournam ent—Fargo Country Club. 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. 7:00 D inner—Fargo Holiday Inn. 8:30-12:30 D ance—The Eidem-Condell O rchestra. Tuesday, M ay 19 A.M . 7:30 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, Iran. 9:15 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 Awards. 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis <|> 61 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. https://fraser.stlouisfed.org 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 62 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 11:30 Introduction of NDBA P a st Presidents, NDBA Annual M eeting, ABA Business M eeting Doublewood Inn of Fargo 11:00 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 P.M. 12:15 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 tions. 1:30 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/ Legislators. M oderator: H arry J . A rgue, NDBA Execu tive Director. Panelists: Representative Kelley Boyum, T ru st Officer & A ssistan t Vice President, E.L. BUTZ 3:00- 3:15 3:15- 4:00 4:00 6:30- 7:30 7:30 9:15 9:30-10:45 10:45 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, D.C. Recess Social H our ® B anquet Address: George Blanda, Form er Quarterback-Placekicker (Chicago Bears, H ouston Oilers & Oakland Raiders) Recess “ 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. T Chicago 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 president. Midland National Bank: Peterson, vice president. Stan 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. Minneapolis 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis S.G. TAYLOR 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 sentatives. San Francisco Wells Fargo Bank: Donald J a r dine, senior vice president, a n d # Ingrid Canto, correspondent banking officer. 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Banco 64 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 Reinhart. 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 Association in 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 C .N . DAVIS 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 refreshed. 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 I NDBA’s Annual Convention Committee Chairpersons Committee chairpersons for 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NDBA State Legislative Report By HARRY J. ARGUE Executive Director N orth D akota Bankers Association Bismarck 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 from costs of all ingredients in the farm ers’ every possible 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 H.J. ARGUE 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. T 65 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" S T A T E B A N k ) o F DAKOTA BANK & TRUST CO. 51 Broadway • 1815 South Univ. Drive Fargo, North Dakota • Member F. D. I. C. NORTHPORT SHOPPING CENTER FARGO. NORTH DAKOTA 68102 / TELEPHONE (701) 2 3 7 « 6 1 THE FARGO NATIONAL BANK AND TR UST COMPANY $ M ain at B roadw ay — V illa g e West Fargo, N o rth D akota VIBER F E D E R A L DEPOSIT IN S U R A N C E C O R PO R AT IO N FIRST National bank Of Fargo # First Bank Fargo M em ber First Bank System W E S T FARGO STA TE BANK WEST FARGO, NORTH D A K O T A 58078 An Affiliate of Northwest Bancorporation Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 66 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 were: • 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 agency. • 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 Forks, serving as branch m anager of the Finley office. He received a BS R.D. MONSON 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 Northwestern https://fraser.stlouisfed.org 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. F 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 || D akota 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 president and m anager of the main office of the N ational Bank of South D akota in Sioux Falls. Mr. Paulson G.PAULSON has been associ ated with F irst Bank System affiliates since 1972 when he joined BRENT T. RIME F irst Bank Fargo as a m anagem ent ZAVALNEY 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 president. 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 BRUCE president and m anager, farm loan m arck as a managem ent associate. ZAVALNEY departm ent. New Park River President 67 A Montana J. B. W allander, pres., Froid J. T. Cadby, exec, v.p., Helena J 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. Trinidad State 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 president of the Bank of Virginia in business adm in G. HENRY M ontana and istration degree. Richmond. 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 P. WEITZ 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 1978. Bank of M ontana, N .A ., in B utte, has announced ^¡the election of r 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 . He was K.G. McCONWELL formerly assistan t vice president of Citizens Bank of M ontana. Wyoming ^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 officer. 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. 4 https://fraser.stlouisfed.org 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 of Charles Dorman as vice presidentcommercial loans. M r. D or man has been vice president and tru s t officer of the Perry S tate C. DORMAN 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 68 80th Annual Colorado Bankers Association Convention June 4-6 Broadmoor Hotel Colorado Springs D.A. CHILDEARS 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 9:00 9:00 9:00 9:00 11:00 P.M. 6:00 6:30 7:30 Fun Run, Broadmoor Golf Course. M en’s Golf Tournam ent, The Broadmoor Golf Course. R egistration and E xhibits, Ballroom, Main Building. Bridge Tournam ent, Green Room, Main Build ing. Home Tour, South Entrance of The Broadmoor. Tennis Tournam ent, The Broadmoor Tennis Courts. Ladies’ Golf Tournam ent, The Broadmoor Golf Course. 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 DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P. LENNON 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. P.M. 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 A.M. 7:00 9:00 9:00 Friday, June 5 A.M. 7:00 9:00 W .W . GRANT Vice Pres. H. DOWNS C.C. HOPE ABA Past Pres. O A.M. 7:00 7:30 J.J. O’DELL President Shearson-Loeb-Rhoades B reakfast at In te r national Center. ^ R egistration and E xhibits, Ball Room, Main Building. Second Business Session at International Center. ^ 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 .” Noon A nnual M eeting and Election of Officers. A djournm ent. ^ O 69 Our commitment to service is your Source of strength in Correspondent 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 region, 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 relationships. So consider the Source. First of Denver https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 70 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, Chicago 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 # tive. 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. T 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 Denver 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 Lincoln 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. £ presidents. Los Angeles Lincoln Benefit Life Company, Central Bank & Trust Co.: Max Lincoln, Nebr.: Steve S utton, vice United California Bank: Ernie Brooks, chairm an of the board; Don president. 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 Company, St. Louis, Mo.: Buck Colorado National Bank: Peter A rthur Sensenig, assistan t vice W ard, Denver district m anager. presidents/relationship m anagers. G rant, president; Robert Kropf, Scarborough and Company, C h i# senior vice president; Lance Johnson, cago, 111.: Richard Benjamin. William MacMillan, David Fowler, Omaha Nelson Cole and Louis Clain, vice The Omaha National Bank: Jam es presidents; Mike Stanford, Gerre L. 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 Seattle 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. 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 https://fraser.stlouisfed.org 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 71 WE CALL HER A BIG IDEA IN • CORRESPONDENT BANKING. ' TOUCAN CALL HER CARALEE. 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 Banking. 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10 years of operations experience at one of our correspondent banks. She understands your problems. 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 72 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 E. 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 P.F. FALETTI D.E. BLACKFORD 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 R.B. MADDOX G .N . SILCA 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 Chicago. 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 https://fraser.stlouisfed.org 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 formerly internal auditor with Affiliated Bancshares of Colorado. 4) 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^ states. 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 after-luncheon 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, Inc. will highlight the W ashington, D.C. scene and discuss w hat effect the Reagan adm inistration will have o 0 the financial community. 73 Each of these United Missouri correspondent 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 profitably! 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 MISSOURI BANK OF KANSAS CITY, N .A. United we grow. Together. M em ber FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 74 % Nebraska J. E. Roe, pres., Bennington R. M. Beverage, exec, v.p., Lincoln V 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 DigitizedNorthwestern for FRASERBanker, May, 7981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J 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 River. CONVENTION REPORT 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 dent. 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, a 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 proval.” 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 not 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 . For your bank, Instant Cash can be instant EFT. 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bob Harris Howard Nielsen Member FDIC John Lewis Myron Peterson US National Bank Of Omaha banco« 76 T.C. JACKSON Donald J . M urphy, chairm an of the United S tates National Bank, has announced the promotion of 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. O 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. * M .K. COHN S.S. WARE Also announced were the elections --------------------------------------------------------------------------------------------------------------------------------- \ We are pleased to announce that Thomas W. Cullinan and James C. Van Horn are now associated with us as Institutional Account Executives in our Lincoln office. FIRST MID AMERICA INC 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. STOCKS, C O R P O R A TE , M U N IC IP A L A N D G O V E R N M E N T BONDS, OPTIO N S, T A X SH ELTER S A N D C O M M O D ITIE S . 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 DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis of S.M . MASTERS * * 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 of 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 trainee. 41 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, Inc. 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. ftust your correspondent *banking to our efficiency experts. ^ ^ These superb professionals are dedicated to meeting all your m individual corres- ■ pondent needs. Call us for details on electronic data processing, # https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis cash letter processing, overlines, fed fund bH transactions; or any ( ■ other correspondent I! M service. We’ll show you how friendly efficiency can be. first n a tio n a l b a n k of omaha In Nebraska call us toll free at 800-642-9907 Outside Nebraska call us toll free at 800-228-9533 Member FDIC. Northwestern Banker, May, 1981 78 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 N M Digitized Northwestern for FRASER Banker, May, 1981 https://fraser.stlouisfed.org 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. M 79 ’OOt'nannàe^1 cottS ° îiicet co « * tc e " 6Ö&08 * t\\e «» G https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis *teaï, Northwestern Banker, May, 1981 80 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 String. R.A. PONT S.R. HIATT 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 That’s what you get from the First Stock Yards Bank. Our correspondent bankers are real pros when it comes to financial expertise and personal attention. Their specialties are bank stock loans, commercial loans, agricultural loans, and data processing. Together, they make millions of dollars worth of loans every year. Team up with a first string correspondent banker -one of the pros from First Stock Yards Bank of St. Joseph, Missouri. Where your success is a tradition First Stock Yards Bank St. Joseph, Missouri 64504 Call: (816) 238-0651 A ffiliate of First Midwest Bancorp, Inc. Member F.D.I.C. DigitizedNorthwestern for FRASERBanker, May, 1981 https://fraser.stlouisfed.org 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. 81 Specialists in fulfilling your every correspondent need... GARY L. BIECK Vice President & Manager Correspondent Bank Division WILLIAM E. EDGECOMB Vice President CRAIG E. WANAMAKER Vice President STEVEN L. ANDERSON Assistant Vice President KATHY M. VOTAW Correspondent Bank Officer MARVIN HEFTI Correspondent Bank Officer MARK A. ZABACK Correspondent Bank Officer MARK HAHN Correspondent Bank Officer CHARLES R. ELLIS Correspondent Bank Officer FIRST NATIONAL LINCOLN 13th & M Sts. • P.O. Box 81008 • Lincoln, NE 68501 Phone: (800) 742-7462 Member, f .d .i .c . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 82 G eaied ior growth? Come Grow WithUs! We're helping Iowa banks of all sizes grow by helping them become more efficient and more effective in their day-to-day operations. When you correspond with Bankers Trust, you team up with the strength, resources and responsiveness of Iowa's largest locally owned, inde pendent bank. We'd welcome the oppor tunity to work with you on overlines and loan partici pations, wire transfers, data processing and trust services. Our Correspondent Bankers DigitizedNorthwestern for FRASER Banker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis look forward to meeting with you to discuss your specific needs. We're geared to helping you achieve your goals for in creased profit and growth. So, come grow with us! Bankers C o m e C ro w § n W ith U s m I U IC T w l Des Moines, Iowa 50304 Member: FDIC/Federal Reserve System Iow a’s la rg e s t lo ca lly ow ned, In d e p e n d e n t b a n k Use our toll-free WATS line: 800-362-1688 83 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 Marcus. 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 promotion. 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 https://fraser.stlouisfed.org 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 company, chairm an W. Louis 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 place. 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 84 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. □ A 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IBA Treasurer Bud Pike w ith Rep. Cooper Evans, G rundy Center. 85 *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 participations, collections or advice on investm ent portfolios, you can count on Bernie to have an answer, w e do. And, he's m ade o u r’s a winning team . 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 MEMBER: FEDERAL D EPO SIT INSURANCE C OR PO R A TIO N https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 86 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 T 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 1926. In 1929, W . Harold Brenton moved to the Iowa National Bank to join his Northwestern Banker, May, 1981 https://fraser.stlouisfed.org 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 banks. 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 corporate 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. He 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 1958. 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 87 “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”) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 88 Northwestern Banker, May, 1981 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 89 Know your ustom ers. _ook around. Banking has become one of The operative word is exhaustive. Since Jay’s most competitive businesses. every possible piece of information gathered Your customers are being wooed by every is centrally stored, you have immediate ac 'nancial institution in your market area. cess to such things as the status and history The trick to keeping your customers loyal, of a given customer’s account and his ac to increasing your profits, is knowing as count relationships. The businesses he’s in ych about them as possible and keeping and how they’re doing. And any pertinent information updated daily. family information. Unfortunately, complete up-to-the-minute This information is critical in making quick, ustomer profiles are rare. Background in- knowledgeable, profitable decisions. ormation is often gathered randomly and CIF is the most economical, efficient and in many different places, making it sensible way to gather all this information ficult to obtain for useful purposes. and to use it for increased profits. Until now. Until Banks of Iowa Computer D on’t kid yourself. ervices Central Information File (CIF). There aren’t many new With Banks of Iowa Computer Services’ customers around. What IF,:, complete information on your custom- you need to do is expand can be obtained in moments, either on a the ways your existing cus isplay terminal or as hard copy. tomers use your bank. Because a lot of other financial institutions would like them as customers. And are trying to get them. Can you trust your customers? Yes — if you can trust your information retrieval sys tem. And that means CIF. Contact us today for an appointment. We’ll be glad to explain our system at your convenience. For more information call Joe Phernetton or BICS marketing at (319) 399-3600. BIOS anks of Iowa Computer Services^ “BANKS OF IOWA’’ SUBSIDIARY https://fraser.stlouisfed.org 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 Bloomfield. 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 F 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 FLESVIG 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 Meetings. LaSalle National Bank © 135S. LaSalle Street Chicago, III. 60690 Northwestern Banker, May, 1981 https://fraser.stlouisfed.org 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. AGENCY PREMIUM VOLUME 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 91 DIVIDENDS PAID to your bank’s needs — Bonds, Property-Casualty, Directors’ & Officers’ Liability — Employee Benefit Programs — Creditor Protection. So who cares? Iowa banks like yours. For more information, call 5 1 5 -2 8 6 -4 3 0 0 . Or dial 1 -8 0 0 -5 3 2 -1 4 2 3 toll-free. And find out how much more we care about you. IOWA BANKERS INSURANCE & SERVICES, INC. 4 3 0 Liberty Building, Des Moines, Iowa 5 0 3 0 8 Selling insurance protection just to banks. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 92 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 A Banker, May, 1981 Northwestern https://fraser.stlouisfed.org 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, liquidity and 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 seminar. Joins Melbourne Bank Jam es G. Anderson has joined the Melbourne Savings Bank as a vice president, according to Eldon 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 Bank. 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 representa Iowa State p r e v io u ^ Production 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 tration. Larry M cKibben, a M arshalltow attorney, was appointed to the boarc to fill the vacancy left by Dav^ Loupee. I Two guest speakers were James L. Kubik (le ft), of G riffin , Kubik, Stephens & Thom pson, Inc. investm ent bankers, C hicago, and AI Lauth, v.p., 1st N a tl., St. Louis. 93 Ready with . Z J lg lP k S v S tG T T I 7 ITIP" W ' itfl 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 NOW 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member Federal Reserve System Northwestern Banker, May, 1981 94 Iowa News Hawkeye Plans More Acquisitions AW KEYE Bancorporation, Des H 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 5.8% to the maximum legal 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 year-end. 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 plaque from Paul Dunlap (center), pres., Hawkeye 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 Northwestern https://fraser.stlouisfed.org 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 so.” 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), Omaha, general counsel fo r H awkeye] B an corp oratio n, and Bob Murray (rig h t), sr. v.p. & con tr. o f| Hawkeye. You don’t have to go longdistance forbig investment service. 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. IOW A nesMcxnes A A NATIONAL BANK M em ber FDIC John Hunt Voldy Vanags Janine Young John Johnson Roger Mahoney Radona Watrous © lowa-Des Moines National Bank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 96 Des Moines OUR senior officer personnel changes at the Iowa-Des Moines F 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, product development and business develop- J.A. SIKKINK D.R. MORRISON G.R. RASMUSSON H.L. HORAK 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 Northwestern https://fraser.stlouisfed.org 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, 1979. 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 bank. Anyone desiring any furthe inform ation m ay obtain it by contacting the tru s t division ^ Bankers T ru st Company, DeT Moines. * * * Larry J . Glass, senior com p u ti 97 • YOUR CENTRAL NATIONAL BANKER IS NOW YOUR UNITED CENTRAL BANKER. INTRODUCING UNITED CENTRAL BANK OF DES MOINES', N .A . CORRESPONDENT BANKING DEPARTMENT. 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. WE'RE UNITED TO SERVE YOU BETTER. THESE FIN E B A N K S A R E M E M B E R S OF THE U N ITE D C EN TR A L B A N K FA M ILY : 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 . CENTRAL OF DES MOINES, HJL AFFILIATED WITH UNITED CENTRAL BANCSHARES, INC. ■ MEMBER FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1981 98 Iowa News Now, First National Bank has a new source of funds available for cattle and grain loans. FIRST AGCORP. 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 tradition. First National Bank St. Joseph, Missouri 64502 Call: (816) 279-2721 Affiliate of First Midwest Bancorp., Inc. Digitized forNorthwestern FRASER Banker, May, 1981 https://fraser.stlouisfed.org 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# processing. * * * 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 the Iowa-Des Moines as vice president, com mercial banking. Mr. W ayne has been with Capital G.K. W AYNE City Bank the past nine years, serving as executive vice president and member of the board. 0 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 Omaha, Neb., has announced 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 of Iowa News 99 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 Banks, In c .’s tru s t division. # 4 r. Flynn was formerly associ ated with the F irst National 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. ONLY OUR NAME HAS CHANCED! A DESIGNORIGINAL BY iiÉ w U IW U U À & # J.R. LANGIN C .H . LEIBOLD 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 https://fraser.stlouisfed.org 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" OFFICE ONCEPTS LTD P.O. BOX 808 Waterloo, lowa 50704 (319) 234-1221 Northwestern Banker, May, 1981 100 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 " Iowa. 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 S hareholders 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 https://fraser.stlouisfed.org 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 Bank, 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 ing company 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 DR. L.R. KOLMER E.W. MASER 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 areas. ^ 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 c? 101 •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” t 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. https://fraser.stlouisfed.org 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 attorney. 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, and 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 102 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 Lake. 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- INDEX OF ADVERTISERS 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 https://fraser.stlouisfed.org 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 . . . Omaha.............. St. P a u l............ St. Paul (Bonds) Sioux C it y ........ Sioux Falls 59,61 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 M ■••i l . . .79 . . .93 . . .55 51,63 :* .52-53 . . .19 . . .57 . . .97 . . .73 w5 ........8 The last thing you need is a new building. Your business is banking and you know it well. Our business is bank building and we're here to assist you whenever you face the decision to rem odel or expand or build new facilities. With over 8000 financial projects com pleted since 1913, we know our business well. You’ll need answers to questions, solutions to problems. And they’v e got to b e good ones. For if any question or answer is wrong, the solution could be a bank th at’s too large or too small. Or it might b e in the wrong location, offering the wrong combination of services. 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