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MAY 1984 Microcomputers perform ‘what if’ calculations Banker’s wife takes bull by the horns • IBAA Elects New Officers in New Orleans https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis He's Stan Farmer, your M N B Correspondent banker. MNB's Stan Farmer means business — more business for you and your bank. He can help you say "yes" to your valuable bank customers when their financial need exceeds your ability to fulfill it. Stan has the knowledge and experience to work with you and your customer on agricultural loans, or commercial and real estate loans. He w ill also consult with you on your personal plans for bank ownership. He means business when it comes to assisting with your day-to-day cash management needs, as well. In addition to providing standard services — such as federal fund transactions, short-term investments and check clearing — Stan and our MNB https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Correspondent banking staff can help you deal with critical cash transfer deadlines, complicated collection requirements, international transactions and difficult check clearing problems. Additionally, Stan w ill work with you to provide operational innovations that prepare your bank for any service need. At MNB, we're dedicated to bringing together the resources, experience and services you want in a correspondent bank. That's MNB's commitment to productivity, so talk to Stan, soon. When he says he can help your bank's business grow, he means business. Call Stan at 319/398-4320 or 1-800-332-5991, toll free, today. Merchants National Bank 1:1 Cedar Rapids, Iowa 52401 Member F.D.I.C. A BA N K S OF IOWA BAN! 3 In a quandary over the FDIC regulation on brokered deposits? InnerLine can help! InnerLine is the only on-line service available today that provides an up-to-the-minute list of issuing institutions and their rates. Let InnerLine show you how quickly and easily your institution can pur chase CDs with ju st a few phone calls, by using InnerLine’s Funds Marketplace. worth of CDs. Because the spread between the top 50 postings is often more than 30 basis points, there is an even greater opportunity for increased profit. Taking advantage of Funds Marketplace on ju st one $1 million transaction will easily cover the average annual cost of an InnerLine subscription. As an InnerLine subscriber, you will have access to rates offered by more than 400 financial institu tions nationwide, 24 hours a day, seven days a week. Issuers, too, can benefit from InnerLine because they receive free access to the Funds Marketplace through InnerLine’s sophisticated network. Rates and m aturities can be instantly posted, deleted or adjusted, as often as needed. You save time, too. Listings can be scanned and sorted by state or region and are always prioritized by the maturity you select. Push a button and you will receive the name and telephone number of the specific institution, and even the name of the person to contact to complete the transaction. Make a few telephone calls —and make a lot of profit! For example, a spread of only 10 basis points trans lates into $1,000 annualized profit on $1 million Best of all, InnerLine simply “introduces” buyers to sellers. There is no “cut” taken on the transaction placed or purchased. The Funds Marketplace is ju st one of the more than 40 ways InnerLine can help you save time and money in today’s rapidly changing financial world. For more information, call toll-free: 1-800/323-1321. (In Illinois, call 1-800/942-7835.) Or write, InnerLine, 95 W Algonquin Road, Arlington Heights, Illinois 60005. IMNERUNE YOUR ELECTRONIC BUSINESS PARTNER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 4 N ationet Elects O fficers for 1984 NffllWSTERN HE BOARD of directors of N: T tionet, Inc. has announced th election of new officers for 1984. / J 5 0 H K îV MAY 1984 • 91st Year • No. 1448 MEMBER OF AUDIT BUREAU OF CIRCULATION MEMBER BANK MARKETING ASSOCIATION OLDEST FINANCIAL JOURNAL SERVING THE CENTRAL AND WESTERN STATES ON THE COVER Microcomputers continue to command increasing attention in banks of all sizes. Their many uses have made them uniquely adaptable for bankers, as noted in the feature article titled below. Rapid advances now make it possible for the micro to access mini or mainframe computers, thus broadening their capability. By the same token, mainframes can download to micros, utilizing the high-speed, almost endless storage capacity of the host computer, while providing informa tion and data as needed to the micro for extensive personal processing. No one was more surprised than Delores Maser when the two rodeo clowns in the photo unexpectedly picked her up and tossed her on top of this 2,220 pound Brah man, who turned out to be docile. Like a good sport, she grinned for the camera. She was at Rawhide, near Phoenix, Ariz., for a Wild West night in connection with the ABA Community Bankers CEO Conference, which she was attending with her husband, Al Maser, president of the Iowa Bankers Association and president of First National Bank, LeMars. FEATURES 20 W hat’s New Manufacturers, service companies describe products 23 Electronic spreadsheet Neil Stadlman shows how micro offers “ what if” usage 28 I BAA convention report Montana’s Jack King installed as new president CONVENTIONS 49 50 Colorado convention program You Will See Them at the 83rd Annual Colorado Convention DEPARTMENTS 8 12 18 32 33 35 Calendar Bank Promotions Corporate News Illinois Wisconsin Minnesota 36 Twin Cities 45 South Dakota 46 North Dakota 47 Montana 48 Wyoming 55 Nebraska 56 60 63 76 Omaha Lincoln Iowa Des Moines NORTHWESTERN BANKER 306 15th Street, Des Moines, Iowa 50309 Phone (515) 244-8163 Publisher & E ditor A ssociate Publisher A ssociate E ditor Consultant Ben Haller, Jr. Steve Burch Becky McBurney Malcolm K. Freeland No. 1448 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. $18 per year. Second Class postage paid at Des Moines, Iowa and at additional mailing office. POSTMASTER: Send all address changes to Northwestern Banker, 306 Fifteenth Street, Des Moines, Iowa 50309. Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Elections were held in Chicago at the organization’s annual meeting. The following officers were electe Chairman — Michael E. McEvoj president of Magic Line, Inc., Detroit. Vice Chairman — Dale A. Dooley, president of ITS, Inc. Des Moines, la. Treasurer — Joseph E. WolfsoT president of Metroteller Systems; Inc., Buffalo, N.Y. Secretary — Gil Davenport, senior vice president, Instant Teller (City National Bank), Los Angeles. Twelve of Nationet’s 13 boar members were re-elected at the meet ing. Edward McWilliams of the At lanta-based First Financial Manage ment Corp. joined the Nationet boar of directors replacing James Sdoia. Continental Offers New Leasing Product Continental Illinois Leasing Corpo ration, a wholly-owned subsidiary o Continental Illinois Corporation, ha developed a financing structure to en able corporations to convert the a preciated value of seasoned asset into cash or retained earnings. Called residual value financing the new financing structure, was d veloped for corporations that ha assets with a market value greate than their book value and on whic no gain can be realized until th lease matures, usually 7 to 10 year To arrange the financing, in surance is taken out on the expecte residual value of the asset — the dif ference between its present boo value and likely future value maturity. The residual value is the sold privately to third-party in vestors using money market instru ments that are issued on a dis counted basis at a fixed rat Because the note sold by the lesso is supported by the insurer, pur chasers are protected for the ful value of their investment. On clos ing the transaction, the amount funds available to the company i the residual value less the interes rate on the note. The company ca either increase the value of the asse or take a cash gain for an amou equal to the note’s principal. 5 Youcan'tcompeteintoday'stoughfinancial worldwithyesterday'scomputer. Introducing the Monroe System 2000. The new standard for microcomputers. As your services expand, you need a microcomputer that won’t burst at the seams. That’s why Monroe has introduced a , computer with the capa bilities to meet your demands in a growing market. The Monroe System 2000. In fact, it sets a whole new standard for microcomputers. That means larger data storage, communication with mainframes and expandability. And, the System 2000 gives you extra power, with user memory that’s expandable up to 896KB. What’s more, it’s based on the new 80186 microprocessor from Intel, making it one of the fastest 16-bit systems around. Plus, it comes with the most popular operating systems, MS-DOS and CP/M-86.® And application packages which provide an entire library of software to help you take on today’s tough competition. Now, as great as this may sound, there’s more! Monroe gives you service and support direct from over 250 nationwide branch offices. And all it takes is a phone call for us to be right in your office. For more information, call 800-526-7843 ext. 444 (in N.J. 800-522-4503 ext. 444). The Monroe System 2000. It’s nice to know there’s a microcomputer that will cure your bank’s growing pains. S MONROE SYSTEMS FOR BUSINESS Forleaders.not followers. 3 a tra d e m a rk of M icro so ft C o rp o ration CP/M -86 is a re g is te re d tradem ark of D ig ita l R esearch, Inc. Monroe System 2000 is a tradem ark of L itto n B usiness System s, Inc. © 1984 L itto n B usiness System s. Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 If your primary correspondent can’t clear San Francisco the sam e day, call First Bank M inneapolis* https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M o st c o rre s p o n d e n t ban k s w o n ’t co llec t y o u r funds as fast as we w ill. O r give you a n im m e d ia te in v estab le b a la n c e . So you m a y be losing m o n e y every day. T h o s e a re so m e rea so n s w hy you sh o u ld use F irst B a n k M in n e a p o lis as y o u r p rim a ry c o rre s p o n d e n t. You see, we offer o n e o f th e best Availability' S chedules in th e n atio n a n d o n e o f th e fastest in this reg io n . T ake S an F ra n c isc o for e x a m p le . W e’ll give you im m e d ia te availability7o n m o st item s a n d c re d it for th e rest in o n e day. A n d w e still a c ce p t p a y m e n t for o u r services th ro u g h b alan c es. W h a t’s m o re , th e r e ’s o u r exclusive “ DAILY $ ’s’’ r e p o rt w h ich show s you exactly h o w m u c h you c a n invest today. W e’ll even m o n ito r y o u r cash le tte r s c h e d u le . So you c a n get m o re o f to d a y ’s cash le tte r to invest, b ecause th a t’s w h a t co u n ts. So if y o u ’re g ettin g th e idea th a t w e c a n d eliv er m o re in v estab le funds every day, y o u ’re getting th e rig h t idea. First Bank Minneapolis C o rre s p o n d e n t B a n k in g D e p a rtm e n t F irst B a n k P la c e M in n e a p o lis, M N 55480 612/370-4762 We are what you want a correspondent bank to be. 2 3 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M e m b er F D IC 8 r Convention Calendar North Dakota: K ABA—American Bankers Association AIB—American Institute of Banking BAI —Bank Administration Institute BMA—Bank Marketing Association IBAA—Independent Bankers Association of America NABW—National Association of Bank Women, Inc. RMA—Robert Morris Associates National Conventions & Schools May 16-19—IBAA 24th Seminar/Workshop on the One Bank Holding Company, Hotel St. Anthony, San Antonio, Tex. May. 27-June 8—BMA School of Bank Mar keting, University of Colorado, Boulder. May 27-June 1—BMA Essentials of Bank Marketing School, University of Colo rado, Boulder. May 27-June 1—BMA School of Trust Sales and Marketing, University of Colorado, Boulder. June 2-6—ABA National AIB Leaders Con ference, Hyatt Regency, Atlanta. June 4-5—IBAA Productivity Workshop, Amfac Hotel, Minneapolis, Minn. June 3-15—Stonier Graduate School of Banking, Rutgers University, New Bruns wick, New Jersey. July 8-13—ABA National Agricultural Bank Management School, Iowa State Univer sity, Ames, Iowa. July 15-21—ABA National School of Bank Card Management, University of Oklaho ma, Norman. Aug. 19-22—IBAA 25th Seminar/Workshop on the One Bank Holding Company, The Broadmoor, Colorado Springs. Aug. 19-24—IBAA Senior Bank Officers Seminar, Babson College, Boston, Mass. Sept. 9-12—ABA National Bank Card Con vention, Washington Hilton, Washington, D.C. Sept. 16-18—IBAA Commercial Loan Work shop, Radisson Muehlebach Hotel, Kan sas City, Mo. Sept. 16-19—BMA 69th Annual Convention, New Orleans Marriott Hotel, New Orleans. Sept. 16-19—ABA National Conference on Human Resources, Fairmont Hotel, New Orleans. Sept. 26-27—IBAA Spread Analysis and Asset/LiabiIity Management Workshop, Omaha Marriott, Omaha, Neb. Oct. 14-16—IBAA Commercial Loan Work shop, Stapleton Plaza Hotel, Denver, Colo. Oct. 20-24—ABA Annual Convention, New York. Nov. 4-7—IBAA 26th Seminar/Workshop on the One Bank Holding Company, The Sands Hotel, Las Vegas. Nov. 11-14 —ABA National Agricultural Bankers Conference, Hyatt Regency/ Crown Center, Kansas City, Mo. State Conventions & Schools Colorado: June 7-9—CBA Annual Convention, The Broadmoor, Colorado Springs. Illinois: May 20-June ate School, 2nd Session, Rodeway Inn Overland Park, Kansas. Oct. 14-19—Schools of Banking Advanced School, Regency West, Omaha. 1—Agricultural DigitizedNorthwestern for FRASERBanker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lending School, Southern Illinois University, Carbondale. June 3-8—Illinois Graduate School of Bank ing, Illinois State University, Normal. June 3-8—IBA Advanced Ag Lending Clinic, Illinois State University, Normal. June 13-15—IBA Annual Convention, Peoria Convention Center, Peoria. June 17-23—IBA Consumer Lending School, University of Illinois, Urbana. Sept. 23-25—ICBI Tenth Annual Convention, Indian Lakes Resort, Bloomingdale. Iowa: May 16-17—Iowa Young Bankers Confer ence, Des Moines May 22—Group 2 Meeting, Fort Dodge. May 23—Group 12 Meeting, Okoboji. May 24—Group 3 Meeting, Clear Lake. June 17-22—Iowa School of Banking, Iowa City. July 8-12—Outward Bound, Vernal, Utah. July 19-21 —Iowa Independent Bankers An nual Meeting & Convention, The New Inn, Okoboji. Aug. 19-25—Commercial Lending School, Ames. Sept. 16-18—IBA 98th Annual Convention, Des Moines. Oct. 23-24—Consumer Lending/Retail Bank ing Conference, Des Moines. Minnesota: May 15-18—MBA Washington Legislative Conference, Washington D.C. June 11-13—MBA Annual Convention, Rad isson St. Paul Hotel. June 24-29—Minnesota School of Banking, St. Olaf College, Northfield. July 4-6—Upper Midwest Agricultural Credit Conference, Duluth. July 22-27—Midwest Banking Institute, Uni versity of Minnesota, Morris. Aug. 12-17—Commercial Lending School, St. Olaf College, Northfield. Aug. 12-25—Graduate School of Banking, University of Wisconsin, Madison. Aug. 22-25—Independent Bankers of Min nesota Annual Convention, Breezy Point Resort, Pequot Lakes. Sept. 17-28—MBA District Meetings. Nov. 15—MBA Personnel Conference, Holi day Inn International, Bloomington. Dec. 5-6—MBA Advanced Security Workshop, Sheraton Midway, St. Paul. Montana: May 24-25—MBA Trust Conference, Heri tage Inn, Great Falls. June 26-29—MBA Annual Convention, Big Sky. Nebraska: May 24—NBA Presidents Golf Tournament, Lochland Country Club, Hastings. June 3-5—NBA Washington Trip. July 8-13—School of Banking Trust School, Rodeway Inn, Overland Park, Kansas. Sept. 9-14—Schools of Banking Basic School, 2nd Session, Rodeway Inn, Over land Park, Kansas. Sept. 23-28—Schools of Banking Intermedi June 3-8—NDBA School of Banking, Unive sity of North Dakota, Grand Forks. July 5-7—Dakota Bankers Centennial Con vention, The Broadmoor, Colorado Springs. Sept. 19-21 —Independent Community Banks of North Dakota Annual Convention, Kir wood Motor Inn, Bismarck. Sept. 24—NDBA Northeast Group Meeting, Grafton. Sept. 25—NDBA Northwest Group Meeting, Minot. Sept. 26—NDBA Southwest Group Meetin Dickinson. Sept. 27—NDBA Southeast Group Meeting, Valley City. Oct. 3-4—NDBA Compliance Seminar, Holi day Inn, Jamestown. South Dakota: May 20-25—SDBA Officer Training School, University of South Dakota Campus, Ver million. July 5-7—Dakota Bankers Centennial Con vention, The Broadmoor, Colorad Springs. Aug. 9-10—Independent Community Banks of South Dakota Annual Convention, Cus ter Park, Sylvan Lake. Sept. 17—Group 5 Meeting, Holiday Inn, Spearfish. ' Sept. 18—Group 3 Meeting, Holiday Inn, Mitchell. Sept. 19—Group 1 Meeting, Westward Ho Country Club, Sioux Falls. Sept. 20—Group 2 Meeting, Lantern Inn, Milbank. Sept. 21—Group 4 Meeting, Mobridge Country Club, Mobridge. Oct. 11-12—SDBA Instalment Credit and Retail Banking Conference, Sioux Falls. Wisconsin: June 10-13—WBA Annual Convention, Hyatt Regency & Mecca, Milwaukee. Sept. 16-18—Independent Bankers of Wis consin Annual Convention, Radisson Hotel, LaCrosse. Wyoming: June 13-15—WBA 75th Annual Convention, Jackson Lake Lodge, Moran. McKnew Elected President of Dealer Bank Assoc. Robert D. McKnew, senior vice president and treasurer of Continen tal Illinois Corporation, has been elected president of the Dealer Bank Association. He was formerly th vice president of the organization. The DBA, which is based in Washington, D.C., represents com mercial banks dealing in securities, foreign exchange and money marke instruments. 9 ‘WithFirstTkmwork,yourrelationship withFirstChicagoisritpstbankto bankWspartnertopartner’ * '* * * " “When you are a correspondent o f First Chicago, it means having access to the vast resources o f a money-center bank. It means having teams o f specialists w orking together to deliver the kind o f products your bank needs. And it means a partnership that supports instead o f supplants. “You w o n ’t find a bank in the Midwest th a t’s organized to deliver its resources m ore effectively than First Chicago. You’ll w o rk w ith a relationship manager fro m our highly trained specialty team s—the Com m unity Banking Team, the Illinois Team and the Midwest Team— according to your specific needs. “ When you’re a correspondent w ith First Chicago, we w o n ’tju s t be w orking w ith y o u — w e’ll be w orking fo r you. “ See how First Teamwork can w o rk fo r you. Call me, Neal Trogdon, at ( 312) 732-7780.” First Chicago Atlanta—Baltimore—Boston—Chicago— Cleveland.— Dallas—Denver— Houston—Los Angeles—Miami—New York—San Francisco— Washington, D.C. FIRST CHICAGO The First National Bankof Chicago ^"723— Çy ThomasM. King Community Banking PlSlip H. y Britt. / Illinois Banking FIRST TEAMW ORK W ORKS 0 1984 The First National Bank of Chicago. Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis your Direct Line to the Ulorld of Business...and the Uiorld to Come. Centron™ Communications System If you’re about to mate a major investment in a new communications system for your business or profession, one thing is certain. You’re going to demand more than just “talk”. You’ll expect a system that delivers tomorrow’s technology, today. You’ll insist on complete reliabil ity. Maximum flexibility at minimum cost. Added value, across the board, for your communications dollar. Now, Northwestern Bell offers a communica tions system that meets all those expectations, and more. It’s called Centron communications system, and it can open up a multitude of new possibilities for your organization. Growth Without the Growing Pains Centron system’s total flexibility, combined with its ability to grow as you grow, mates it unique in the communications industry. No matter what size your company is today, Centron offers virtually unlimited capacity for the future — 20,000 phone lines, and beyond. With the Centron system, there’s no need to purchase costly extra capacity in anticipation of future growth. You pay only for what you need, adding or subtracting capacity and desired features along the way. What mates the Centron system so flexible and responsive to the changing needs of business? The answer is simple. Centron’s state-of-theart electronic switching systems are located on Northwestern Bell’s premises — not your own. So we can modify your system quickly and efficiently. Update it whenever necessary. That saves you money, downtime, and a whole lot of trouble — like installation delays. And since your Centron system’s “hardware” is located in our central offices, you save*valuable equipment space, and you’re spared the expense of special environmental controls. * What’s more, Centron’s*centralized location means that branch or satellite locations of your business can be integrated into your main system easily and economically. Finally, and this is important... your Centron system is professionally maintained aroundthe-clock, seven days a week. We solve most problems before you even know they exist. That’s bottom line reliability, pure and simple. Centron, Today and Tomorrow* As a Centron system customer, you’ll have the benefit of Information Age technology without the burden of an enormous capital investment. Northwestern Bell is constantly modernizing and upgrading Centron’s capabilities. Making new features available. Updating maintenance proce dures. And improving call-handling performance. Your Centron system will never become obsolete, because Northwestern Bell will keep it evolving to meet the needs of the future. In fact, Centron just might be the only com * munications system your company will ever need. Can you think of a better reason to choose Centron? For more information on the'Centron commun ications system, call toll-free. 1- 800 - 328-4535 Ext 5901 . (within Minnesota) 1- 800 - 752-4225 Ext. 5901 Or, contact your Northwestern Bell Account Executive to discover exactly how Centron’s wide range of standard features and options can be tailored to meet the specific needs of your organization. Northwestern Bell The Information network https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12 Bank Promotions 's ROMOTIONS and other an nouncements have been made P by the following banks: Cole-Taylor Financial Group, Inc., Chicago: Six new members have been elected to the board of this multi bank holding company, whose lead bank is Drovers Bank of Chicago. They are: Irving Finder, president, Rolisa Corporation, Northbrook; Melvin E. Pearl, senior partner in the law firm of Katten, Muchin, Zavis, Pearl and Galler, Chicago; Jerry M. Reinsdorf, chairman, Balcor/American Express, Skokie, and chairman of the Chicago White Sox; Bruce W. Taylor, vice president, Bank of Yorktown, Lom bard; Jeffrey W. Taylor, vice presi dent, Main Bank of Chicago, and Scott W. Taylor, executive vice pres ident, Skokie Trust and Savings Bank. In addition to the above named four banks, Cole-Taylor is in the pro cess of acquiring the Ford City Bank in Chicago. Commerce Bancshares, Inc., Kan sas City: Three new members of the board are: Randall D. Barron, St. Louis, president of the Missouri Di vision, Southwestern Bell Telephone Company; Lester L. Cox, chairman, Modern D istributing Company, Springfield, Mo., and Cloud L. Cray, Jr., chairman, Midwest Solvents Company, Inc., Atchison, Kans. Continental Bank, Chicago: J. Joseph Anderson, executive vice president, has been appointed head of the domestic multinational and worldwide investment banking de partment, it was announced last month by David G. Taylor, vice chairman and chief executive officer. Mr. Anderson will succeed John E. Porta, who resigned April 16 to be come president of Southeast Bank ing Corporation of Miami, Fla. Mr. Anderson, 41, formerly was control ler and head of financial information services. Leonard W. Busse, 45, senior vice president, North America banking, was elected controller of both the bank and Continental Illinois Cor poration at the April 23 board of directors meeting. Eugene R. Croisant, 46, executive Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J vice president and head of adminis trative services, will assume addi tional responsibility for the systems/ information department. John P. Caulfield has joined Con tinental Bank as manager of the government and money market se curities division. Mr. Caulfield, 41, most recently was senior vice presi dent in charge of global funding, foreign exchange trading and sales, bond portfolio and financial futures hedging at Wells Fargo Bank in San Francisco. Newly-elected vice presidents at Continental include: Mark J. Mickey, auditing; John L. Mroz, check pro cessing; James H. Purks, III, corpo rate affairs; Zed S. Francis, Chicago and midwest financial services; Stephen M. Cunningham and Nancy I. Willis, U.S. capital markets, and Michael J. Roche, financial informa tion services. First National Bank, St. Joseph, Mo.: Three new officers recently joined the bank. Steve Tyrrell, vice president, and Richard Garvey, com mercial loan officer, are both in the commercial loan department. Jeff Harrison, vice president, is in the ag/ correspondent department. Mr. Tyrell, began his banking ca reer in 1965 at Spencer National Bank (now United Central Bank) in Spencer, la. In 1976, he joined the American National Bank in Baxter Springs as vice president/cashier and later as executive vice president and director before moving to St. Joseph. He is a graduate of the Colo rado School of Banking, Boulder; N ational In sta llm e n t Lending School, Boulder, and Graduate School of Commercial Lending, Nor man. Mr. Garvey served three years as assistant vice president at Drovers Mercantile Bank and was the mana ger of the bank’s facility in South St. Joseph before joining First Na tional Bank. He holds a BS degree in economics from Missouri Western State College in 1977 and has at tended the Robert Morris Commer cial Loans to Business School. Mr. Harrison will be responsible for ag lending, agri-business lending and servicing correspondent banks. He holds a BS degree in agriculture^ from Fort Hays State University in Hays, Kans., and a Masters degree in Agri-Education from Kansas State University in Manhattan, Kans. He was with the FICB in £ Wichita, then joined First National Bank of Salina, Kans. LaSalle National Bank, Chicago: The election of Homer J. Livingston,^ Jr., 48, was an nounced several weeks ago by Chairman Robert K. W ilm outh, who had been acting president and CEO since last July. That office was left v a c a n t w hen Thomas J. Wage- H.J. LIVINGSTON, JR. man resigned to pursue other interests. ^ Mr. Livingston, a graduate o f^ Princeton University and Chicago Kent College of Law, began his ca reer with The First National Bank of Chicago in 1963, following in th e ^ steps of his illustrious and latew father, Homer J. Livingston, Sr., who served The First National Bank as president and CEO for many years and also was president of th e ^ American Bankers Association. Mr. Livingston, Jr., spent 16 years with First National, advancing to execu tive vice president with responsibili ty for the corporate banking depart-^ ment. In 1979 Mr. Livingston joined Lehman Brothers Kuhn Loeb, Chi cago, as a managing director. In 1982, he moved to the investment^ banking firm of William Blair and Company, Chicago, as general part ner in charge of investment banking services for commercial banks, the post he resigned to accept the LaSal-# le National presidency. Later, Mr. Livingston announced that Joseph J. Gillings, Jr., 42, joined the bank as senior vice president and will be head of the U.S. corpo-# rate banking division. This divi sion’s primary focus is on Fortune 500 companies in the midwest. Mr. Gillings began his banking career with Chemical Bank in 1963.# After 12 years in every aspect of commercial lines he left to join The First National Bank of Chicago as division manager for the retailing and agribusiness division. He also® spent three years at Credit Agricole- 13 Pick our brains before you pick an investment. So m any opportunities. A nd so little time to look into them . No w onder so m any banks throw up their hands and settle for T-Bills. Too bad. B ecause at Continental, w e can give you the insight you need to choose investm ents that provide the highest level of profitability. W ithin a fram ew ork of risk, liquidity, credit and m aturity considerations. From our vantage point as MidA m erica’s largest prim ary dealer bank in governm ent securities, we offer a unique perspective on m arket trends, interest rates, and Fed policy. A nd our M unicipal R esearch Division can give you concise informa tion on state and local issues that even the bond rating services don’t provide. W hen you’re ready to m ake your move, few banks can offer you so m any w ays to go. In addition to our constant posi tion in governm ent securities, we m aintain a strong secondary position in instrum ents such as bankers accept ances, Eurodollar CD s and Canadian time deposits. And, of course, we offer our ow n negotiable certificates and CICorp commercial paper. T hrough our federal funds trading desk, w e can help keep your excess cash w orking by investing it overnight or on an open-end basis. While our financial futures specialties help you protect profit m argins by controlling interest rate risk. So w hy limit yourself? P ick up the phone and call Robert B. Holland at (313) 828-6620. H e’ll show you w here the pickings are best. In brains a n d investm ents. % CONTINENTAL BANK C o n tin e n ta l Illinois N a tio n a l B a n k an d T ru s t C o m p a n y of C h ic ag o , 231 S o u th L a S a lle S treet, C h ic ag o , Illin o is 60697 A tla n ta *B o sto n • C h ic ag o • C le v elan d • D a lla s • D e n v e r H o u sto n • Los A n g e le s • M in n eap o lis • N e w York O k lah o m a C ity *St. L ouis *S an F ran c isc o • Seattle • W h ite P la in s https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 14 Om aha Fed Branch Breaks Ground LEFT— Kansas City Federal Reserve President Roger Guffey breaks ground in a big way. RIGHT—Participants in the ceremonies were: Robert Lueder, chmn., Lueder Construction Co. and chmn., Omaha Branch; Secretary of State Allen Beerman; Roger Guffey, pres., Fed. Res. Bk. of Kansas City; Doris Drury, prof, of econ., Univ. of Denver and chmn., Fed. Res. Bk. of Kansas City; Omaha Mayor Michael Boyle, and Robert Hamilton, vice pres., Omaha Branch. CNCA, Chicago branch, as vice pres ident, responsible for corporate banking activities. Most recently he was executive vice president at GEM Savings in Dayton, Ohio. Another new senior vice president at LaSalle is John J. Lynch, Jr., 37, who will continue to manage the ex panding m etropolitan division, which is committed to middle-mar ket clients in the midwest. Mr. Lynch joined LaSalle in 1974. LaSalle National is an affiliate of Algemene Bank Nederland N.V. (ABN Bank), the 36th largest bank in the world with headquarters in Amsterdam. his retirement plans geared to com pletion of the strategic plan he helped put in place in recent months. David R. Ganis recently joined Northern Futures Corporation, a subsidiary of Northern Trust Com pany bank, as president. Mr. Ganis was associated with Paine, Webber, Jackson & Curtis, Inc., from 1973 until the present, most recently as president, CEO and a director of Paine, Webber Futures Manage ment Corporation. He was also se nior vice president and a director of PWJC with firmwide responsibility for all financial and commodity fu tures activities. Northern Trust Corporation, Chi cago: Philip W. K. Sweet, Jr., an nounced at the annual meeting of shareholders that he will be taking early retirement as chairman and chief executive officer, a post he has held since 1975. He will continue in his present duties until the board has filled his position, he said. Mr. Sweet’s retirement coincides with United Missouri Bank of Kansas City, N.A.: Robert Stark has been promoted to a vice president in the national business development de partment. Prior to joining the company in 1981, Mr. Stark was affiliated with the U.S. Congressional Joint Eco nomic Committee. He has a degree in Business Administration from Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis r o u n d b r e a k i n g cerem o# nies were held last month cele brating the start of construction on the new home of the Omaha Branch of the Federal Reserve Bank of Kan sas City. The new three-story,# 109,000 square foot building will be located between Farnam and Har ney and runs from 24th to 21st streets. The branch has been in its present location since 1925 and e x # pects to move into the new facility in early 1986. “The symbolic turning of Nebras ka soil re-emphasizes the Federal Reserve’s roots in Omaha,’’ r e ^ marked Roger Guffey, president of the Kansas City Fed. “This cere mony underlines our commitment to carry out our central banking re sponsibilities in this region as effi® ciently as we can.’’ Also participat ing in the groundbreaking were Al len Beerman, secretary of state of Nebraska; Omaha Mayor Michael Boyle; Doris Drury, chairman of th ® board, Federal Reserve Bank of Kansas City; Robert Hamilton, vice president in charge, Omaha Branch, and Robert Lueder, chairman of t h ^ board, Omaha Branch. ^ Established in 1917, the Omaha Branch, which is the third oldest Federal Reserve Branch in the coun try, serves banks, savings and loaniw and credit unions in Nebraska ancr western Iowa. G Rennington College and a law de gree from the University of Duques# ne. Northern Trust Withdraws Certain Trust Services ^ The Northern Trust Bank, Chica go, and The First National Bank of Chicago have announced the signing of a definitive purchase agreement under which Northern Trust w il# withdraw from its bond indenture trustee, municipal bond and coupon paying businesses, and recommend that customers using these services transfer their business to First C hi# cago. Northern Trust reported it is withdrawing from these particular trust services as they no longer com plement its strategic direction. # Northern Trust said it will conti nue to expand its other trust ser vices, most notably personal trust and Master Trust. The transfer is anticipated to b # completed in 1985. 15 Are Your Loan Officers Using A Cross Selling System? Let Us Show You Mow To... Take Five and Prosper! Left to Right: Jon Jorgenson, Dick Moore, Mike Melies, Ted Batchelder, John Benson the Credit Insurance Division o f Central States of Omaha WESTERN AT 96TH • BOX 34350 • OMAHA, NEBRASKA 68134 PHONE: (402) 397-1111 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 16 M GIC Survey Shows ARM s Gaining ORE borrowers in the North M Central region will be able to qualify for mort 10-State Survey This emergence of what is be coming a standard adjustable-rate gages in 1984 as mortgage is one of the highlights of lenders empha a semi-annual market survey by size adjustableMGIC. Conducted in the fall of rate mortgages 1983, the survey of mortgage lend over the stan ers is the fifth in a series of studies dard fixed-rate that track changes in the mortgage alternative. environment and analyze lenders’ With lenders in perceptions of the marketplace. The North Central regional survey in the 10-state re gion projecting volved executives from savings and J.W. REICHERT that ARMs tai loans a sso c ia tio n s, m o rtg ag e lored to borrower needs will remain bankers, savings banks and com the number one instrument offering mercial banks from Illinois, Wiscon in 1984, would-be homebuyers have sin, Ohio, Minnesota, Iowa, Indiana, renewed incentive for entering the Michigan, Nebraska, North Dakota housing market, in spite of relative and South Dakota. Lenders in these states expect ly higher interest rates. In the North Central states, 44 that mortgage demand will continue percent of lenders recently surveyed to increase throughout 1984, with by Mortgage Guaranty Insurance originations climbing 28 percent, Corporation said they offer ARMs contributing to a national projected with a discounted initial interest record volume of $250 billion. Fixedrate to help borrowers qualify for rate loans are likely to make up just mortgage loans. Furthermore, these 41 percent of all originations in the high rate levels have made fixed-rate North Central region, while ARMs lending a risky business for both are expected to constitute 51 per lenders and borrowers, according to cent. The predominance of ARMs in MGIC survey results. lenders’ instrument mixes reverses, earlier predictions that fixed-rate™ mortgages would remain the most favored mortgage product. This re flects a national preference for ARM programs providing flexible mort-^ gage instruments that meet bothL consumer demand and investor pref erence. “Although fixed-rate loans will continue to have a place in m ost^ lenders’ portfolios, the rate environ ment and the affordability challenge to consumers indicate that the future in mortgage lending is definitely with the ARM,” saic^ James W. Reichert, senior vice pres ident of MGIC’s North Central divi sion. “Few lenders here would have predicted that a year ago or two agq^ when fixed-rate loans represented more than half of all originations,” he explained. New ARM Features “The real change in ARMs t h i ^ year is not the number of lenders of fering them in the North Central re gion but the mix of loan features which will characterize m ost ARMs,” Mr. Reichert said. “ In a d ^ dition to the discounted initial inter est rates offered by nearly half of all FrankJimKatlij https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ^regional lending institutions, borro wers typically will have a selection of two or three standardized ARM programs.” This move toward fewer and more ^uniform ARM programs contrasts with the proliferation of widely di verse versions of such instruments which dominated the mortgage mar ket several years ago, according to 4|)Mr. Reichert. □ Nebraska, Iowa Men Form New Bank in Phoenix, Ariz. • A group of Nebraska and Iowa businessmen have been elected to the board of directors of Arizona’s newest bank, Commercial State Bank, it was announced last month • b y Melvin McIntosh, Jr., chairman. Seven of the new directors are from Omaha and Council Bluffs. Named vice chairman was Stephen McIntosh, president of McIntosh & •C o., a midwest brokerage firm, Also elected to the board were Omaha businessmen Leo Goodkind, chair man, A-l Direct Mail Services, Inc.; Jerry Vincentini, marketing direc t o r , Wiltse Cap & Gown Co.; Byron Will, president, Lutheran Home; Council Bluffs resident Dr. Arthur Sciortino, retired physician; Arthur Meyer, vice president, Henningsen, Durham & Richardson, an Omaha architectural planning and engineer ing firm, and George W. Meyer, se nior vice president and cashier of Commercial State Bank. Three Ari zona residents complete the board. Mr. Meyer is a former vice presi dent of American State Bank in Ma son City, la., and has held positions with banks in Clinton and Council Bluffs. President of the bank is Larry Clayton, a former vice president of Valley National Bank, Phoenix. Craig McIntosh, a former Council Bluffs resident, who is vice presi dent of financial services for the bank, and Terry Robertson, opera tions officer, round out the officer team. FBS Plans Two-for-One Split, Listing on NYSE First Bank System, Inc., Minnea polis, recently announced plans for a two-for-one split of the company’s common stock and its intention to list its shares on the New York Stock Exchange. First Bank System executive vice president and chief financial officer William F. Farley said the stock split was approved by the company’s board of directors as part of a pro posal to increase the company’s common stock from 27,000,000 shares to 75,000,000 shares and to increase the authorized preferred stock from 5,000,000 shares to 10,000,000 shares. The proposed stock split would be effective for shareholders of record on May 7, 1984. Shareholders would receive the additional shares later in May. After the stock split, total common shares outstanding would in crease from ap p ro x im a te ly 15,100,000 shares to 30,200,000 shares. 3 Clearing Houses Merge Three automated clearing houses merged to create MPX. MPX serves more than 2,000 banks, savings and loans, and credit unions in Arkan sas, Kansas, Missouri, Nebraska and major portions of Illinois, Okla homa and the southwestern portion of Iowa. MPX becomes the third largest ACH of the 30 associations which make up the nationwide net work for automatically transferring funds. Frank Bauder. Jim Carmody. Kathy Hardy. Andy Ruments. Max Roy. John Crotty. Names synonymous with correspondent banking. More specifically, with correspondent banking at Drovers. Almost 150 years combined Knowledgeable years... handling Overline Loans, Capital Requirements, and now such new services as discount brokerage. So consider Drovers for your correspondent needs. You’ll find a continuity of policy. And a continuity of people. Like Frank. And Jim. And Andy. And Kathy. And Max. And John. Call toll-free 1-800-621-8991. C * jfy / In Illinois, 1-800-527-2498. Drovers Bank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 47th & Ashland Ave., Chicago, IL 60609 • 1-312-927-7000. MEMBER FEDERAL RESERVE SYSTEM AND FDIC. 18 Corporate ROMOTIONS and other an P nouncements have been made by the follwoing firms: Bank Building Corporation, St. Louis: James E. Brown, who re cently retired as p re sid en t and chief administra tive officer of Mercantile Bancorporation, St. Louis, has been J.E. BROWN named to the new ly-created post of senior marketing associate for Bank Building Corpo ration. Mr. Brown will work closely with BBC’s top management, helping to strengthen the company as it is posi tioned for future growth. Mr. Brown will serve in an advisory capacity to Carl H. Weis, president and CEO of BBC, and to Rex H. Dunlap, senior vice president. He will also work closely with Thomas Williamson, national sales manager. Mr. Brown was largely responsible for Mercantile’s extremely success ful acquisition and expansion pro gram which today numbers 43 banks with facilities in 83 locations throughout Missouri. He joined Mercantile in 1945 following his dis charge as a first lieutenant in the Ar my Signal Corps. He subsequently headed the bank’s marketing, sales, metropolitan and correspondent banking divisions before being elected president and chief adminis trative officer and a director of the bank holding company in 1971. Credit, Inc., Chicago: Patti O’Neill Smith has been appointed busi ness d ev elo p ment officer in the midwest mar keting center. She will have special responsi bilities in North ern Illinois and St. Louis, Mo. Ms. Smith holds a BA degree in economics, magna cum laude, from the University of Notre Dame. Before joining BarclaysAmerican, she was director of the m arketing departm ent for PACT, Inc., and a commercial lend ing officer for Northern Trust Com pany of Chicago. Daktronics, Inc., Brookings, S.D.: Dr. Aelred Kurtenbach, president and co-founder of the company, has been named as South Dakota’s Small Business Person of the Year. He was to be honored at the Na tional Conference of the U.S. Small Business Administration in Wash ington, D.C., on May 8-10, at the Capital Hilton Hotel. Dr. Kurtenbach helped found his high tech firm 15 years ago with Dr. Duane Saunder, when both were electrical engineering professors at South Dakota State University. The firm has become internationally known for its design and installation of electronic timing, message and voting machines. They are in wide use in state legislatures nationwide, in stadiums and gymnasiums for all Brandt, Inc., Watertown, Wis.: sports, and in hundreds of financial Ronald L. Cooper has been pro institutions for their time-temp us moted to vice president-finance and age. Daktronics originated the offi treasurer. He started with Brandt in cial scoreboards for the 1980 Olym 1978, holding the position of direc pic Winter Games in Lake Placid, tor of financial planning. A year N.Y. later he was promoted to treasurer 1st Financial Marketing Corp., and chief financial officer for the Schaumburg, 111.: Wayne B. Lewin, company. Prior to joining Brandt, formerly chief executive officer of Mr. Cooper was corporate manager Innerline, announced last month the of financial planning and control at formation of 1st Financial Market Allen-Bradley. He also held the posi ing. It will provide marketing assis tion of controller at Allen-Bradley tance to organizations that design, Electronic S.A. de CV Juarez, Mexi develop and sell “high tech” pro co. ducts and services to the financial Bar cl ays /Am eric an /Bu sin es s services industry. Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Heller International Corporation,. Chicago: John R. Holding, 35, has* been promoted to vice presidentstrategic plan ning and busi ness d ev elo p ment, according to Norman P. Blake, Jr., chair man and CEO of the $3 billion fi nancial services J.R. HOLDING organization. Mr. Holding previously was vice presi dent-m arketing at Walter E. Hel-^ ler & Company. The new post he holds is responsible for the planning and development at both Walter E. Heller & Co. and Walter E. Heller Overseas Corporation. Heller Inter-| national is a wholly-owned subsidi ary of The Fuji Bank, Limited, the world’s 10th largest bank with as sets exceeding $100 billion. Before joining Heller in 1981, Mr.i Holding was vice president-market development for the Chicago Board of Trade. Innerline, Arlington Heights, 111.: Three managers and four client sup-1 port representatives have been ap pointed: Susan Pfeifer joins the firm as ad vertising and sales promotion man ager, a newly-created position. Most! recently, she was senior editor of a monthly in-house marketing maga zine published by Metropolitan In surance Companies, Aurora, 111. Her other responsibilities included^ advertising, public relations and photography. Joseph M. Crews, PhD, has been appointed product manager/financial management. He will oversee^ Innerline’s Index of Bank Perfor mance and develop new products based on Federal Reserve call report information. Previously, he was cor porate economist for First Tennes-* see National Corp., Memphis. Jerome J. Haley will serve Innerline as product manager/executive management, in charge of manageri al products that focus on such issues* as employee productivity within fi nancial institutions. He was with Multigraphics Division of AM Inter national, Chicago. | The support representatives and* their territories are: Myra Hower ton, southeast district; Joyce A. Konecny, metropolitan district; Ann CORPORATE NEWS . . . ( (Turn to page 19, please) •M A S I Has “ D ram atic G row th” in ‘84 new corporate officers were elected, reflecting both growth in the organi zation and a change in management ported at the annual meeting April structure. Mr. Tubbs, who previously was 14 in St. Louis, Mo., by Executive Vice President Jim Potter. He said MASI president, was named chair 95 banks in 13 states at the end of man of the board of directors. He is •M arch had $35 million in loan parti also a member of the ABA board of cipations outstanding with MASI, directors and is a past president of and prospects are that the dollar vol the Iowa Bankers Association. Suc ceeding Mr. Tubbs as MASI presi ume will double by late June. MASI is owned by 12 midwestern dent is Leslie W. Peterson, president •s ta te banker associations and has of the Farmers State Bank in Tricontracted with Rabobank Neder mont, Minn. He has been a member land of Amsterdam to provide of MASFs executive committee wholesale market-priced funds for since the group’s inception. He is a the program. past president of the Minnesota ® MASI is a subsidiary of MABSCO Bankers Association and a past Bankers Services, Inc., the parent chairman of the ABA Agricultural company. At a recent MABSCO Bankers Division. A major addition to MASI was meeting, Rollie McClellan was elected —chairman and Edward L. Tubbs was the naming of Walter W. Minger as ^named vice chairman and chairman- vice chairman and active consultant elect. Mr. McClellan is chairman and to the MASI management team. Mr. president of Bank of Janesville in Minger retired recently as senior Wisconsin. Mr. Tubbs is chairman vice president in charge of world ^>f Maquoketa State Bank in Iowa. wide ag business for the Bank of At MASFs meeting in St. Louis, America. He, too is a past chairman RAMATIC growth in bank par D ticipation in MABSCO Agricul t u r a l Services, Inc. (MASI) was re E.L. TUBBS L.W. PETERSON CORPORATE NEWS . . . •¡Continued from page 18) Lark, Rocky Mountain district, and Frederick Madeira, New England district. ^ LeFebure, Cedar Rapids, la.: David C. Jorstad has been appointed sales engineer, operating out of ^ h e Minneapolis regional office and will be serv ing a territory t h a t i ncludes 0nuch of North ern Minnesota. A resident of Brainerd, Minn., D. JORSTAD Mr. Jorstad has •>een active in sales work. LeFebure is a major manufacturer of security https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W. MINGER J.C. POTTER equipment and electronic systems for the financial community. Whittle & Hanks, Chicago: Doug las R. Hanks has been named presi dent of the finan cial m arketing group, it was an nounced l ast month by Chair man Jack W. Whi t t l e. Mr. Hanks formerly was executive vice president of Whittle, Raddon, Motley & Hanks. On April 1, principals of that firm announced dissolution of the wellknown corporation. Mr. Whittle and Mr. Hanks continue to operate from the same quarters as previously. Biff Motley and Gary Raddon left 19 of the ABA Agricultural Bankers Division, and is internationally re cognized for his expertise in agri business and banking. Also joining MASFs executive group are Roger D. McKellips as vice president and Sam E. Callahan as secretary/treasurer. Mr. McKel lips continues on the board of direc tors and Mr. Callahan was elected to the board at the St. Louis meeting. Mr. McKellips is president of the State Bank of Alcester, S.D., and is minority leader of the South Dakota Senate. He served on the South Da kota Banking Commission and in various committee assignments with the South Dakota Bankers As sociation. Mr. Callahan is executive vice president of MABSCO, the par ent company. Mr. Potter contines as executive vice president and chief operating officer of MASI and was elected to the board at the annual meeting. Re cently, he moved the MASI offices from Iowa Bankers Association quarters to 412 Fleming Building in Des Moines (50309). New MASI board members also include John C. Schmidt, executive vice president of the Exchange Bank of Schmidt and Koester of Marys ville, Kans., and Robert E. Harris, executive vice president of the Okla homa Bankers Association. Austin Helgerson, who retired in 1983 from the Iowa banking depart ment as assistant superintendent of banking, has been retained to moni tor the credit criteria and credit ap proval process for the MASI port folio. the firm to organize The Financial Products Group, formerly a division of the former firm, as a separate cor poration. Mr. Motley is president of the newly-organized Financial Products Group, which serves 3,000 client banks with newsletters and various financial publications. LeaseAmerica Corporation, Cedar Rapids, la.: Formation of a Vendor Service Division was announced re cently to provide leasing for small office equipment ranging in cost from $1,000 to $20,000. The pro gram is offered nationwide. The new division is headed by Bob Parsons, previously with Third Century Leas ing in Moberly, Mo. He is a CPA with substantial marketing and ad m inistrative experience. Northwestern Banker, May, 1984 20 What’s New OMPLEX financial analyses for C commercial lending decisions are made simpler and faster by the SAFE (Systematic Analysis and Financial Evaluation) software package announced by Monroe Sys tems For Business for use with the OC 8800 Series microcomputers. The SAFE package is a quick, efficient method of evaluating a customer’s financial status, according to Monroe officials. “SAFE gives the loan officer a complete overview of a company’s strengths and weaknesses. It takes the guessing games out of establish ing acceptable risk,’’ said Robert F. Kane, Monroe president. “And, an entire five-year analysis can be gen erated in just thirty minutes. Thus, the loan officer spends more time working with the commercial loan customer and in actual analysis of a firm’s financial status.” SAFE handles all calculations automatically, including industry comparisons, Mr. Kane states. Using basic information from three stan dard company sources and three in dustry sources, SAFE produces twelve beneficial models including: Comparative Balance Sheet, Com parative Income Statement, Source and Use of Funds Statement, Com mon-Size Balance Sheet, CommonSize Income Sheet, Financial Control Analysis, Ratio Analysis, Cash Flow From Operations, Funds Flow Anal ysis, Capital Structure Analysis, Sales, EBIT, and EBT Analysis and Leverage and Risk Analysis. The user can review every report on the screen or in printed form. Many of the reports are printed with graphs,generated automatically to allow a concise evaluation of the in formation quickly. The rapid res ponse time of the SAFE program al lows a bank to re-evaluate frequently all its corporate customers. Detailed industry/company com parisons on several reports allow both banker and client to consider a firm’s position relative to its own past performance and to industry benchmarks. This presents a truly complete picture on which to base financial strategy. The SAFE professional reports and the in-depth analysis which they provide are strong marketing tools, Mr. Kane notes. They allow a pol ished presentation to new prospects or existing clients. And, SAFE is an effective business development tool to assist clients in improving finan cial results through careful planning. The system is extremely easy to use. Menu choices and information prompts appear on the SAFE screen in sequence. Automatic internal checks and balances provide data en try verification. Information is en tered simply and quickly, eliminating the tedious calculations and work sheet preparation necessary to manually produce the spreadsheet report. Monroe’s customer service for the SAFE system is also unique in the microcomputer industry. Installa tion, training, service and support are all available in the bank office. A NEW V hour multi-media^ program, A training teaches financial em 2 2 Taming The Telephone, ployees how to take charge of the telephone and harness its power to satisfy customers and cross-sell^ financial products, while projecting the professional image today’s finan cial institutions need in order to compete successfully. Taming The Telephone covers^ more than 20 specific skill areas, from “handling customer com plaints” to “proper message- tak ing” available in both slide/tape and video cassette formats. It comes# complete with a 160-page fully scripted Instructor’s Guide, 38-page participant’s Workbooks, deluxe Completion Certificate for each em ployee, and skills review card, and is# designed for easy administration even by non-trainers. A proven hit with employees, the program before its release was pilot-tested at Chemical Bank and American Sav-# ings Bank in New York. Training costs are less than $50 per participating employee in slide/ tape or video cassette format, and after initial progarm purchase, only® $16.00 per additional employee par ticipant kit. Tam ing The Telephone was developed by three experts: Lois Kaufman, Ph.D., a management® consultant who has developed train ing programs for many companies; John B. Wolf, Ph.D., a nationally regarded authority on the design, _ implementation, and monitoring o f^ managerial control systems, and Richard J. Roll, MBA, president of Financial Marketing Corporation of America, Inc., and formerly an ex-^ ecutive with Citibank. Northern Trust Files to Form H.C. in Florida NEW Systematic Analysis and Financial Evaluation (SAFE) software package from Monroe Systems For Business for the OC 8800 series microcomputer gives the loan officer a com plete overview of a company’s strengths and weaknesses. An entire five-year analysis can be generated in thirty minutes. SAFE produces beneficial models including Comparative Balance Sheet, Source and Use of Funds Statement, Financial Control Analysis, Ratio Analysis, Cash Flow From Operations, Risk Analysis and six other models. Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ^ Northern Trust Corporation, Chi cago, filed a request with the Fed eral Reserve Bank of Chicago for the formation of a bank holding com pany in Miami, Fla. £ The new holding company, to be named Northern Trust of Florida Corporation, will consist of four Northern Trust Corporation affili ates in Florida: Northern T ru st# Bank of Florida N.A. in Miami; Northern Trust Bank of Florida/ Sarasota N.A.; Northern Trust Bank of Florida/ Palm Beach N.A.; and Northern Trust Bank of Florida/# Naples N.A. 21 W hen you're fighting for profit^ United M issouri's your m uscle. # w * ut all the strength of United ■__ I Missouri’s Correspondent Banking Department to work for your bank. You’ll never again waste your precious time tracking down the latest changes in federal regulations. We keep up with the regulations and research for you. You’ll never again call bank after bank to find the services and systems you need to keep your bank running smoothly. We offer them all. United Missouri’s Correspondent Bankers have the answers to your questions. If your bank or your customers have a need, we’ll do our best to fill it. All in all, United Missouri just might be your best ally in the battle for profits. Discover how. Call your United Missouri Correspondent Banker today. UNITED MISSOURI BANK of Kansas C ity n.a. United we grow. Together. 10th and Grand • P.O. Box 226 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 22 Give Me a Couple of M inutes. . . I'll Give You Years of Great Service.. Hi! I'm Dave Hansen, Iowa Marketing Representative for the G.D. van Wagenen Company — your Collateral Protection Specialists. I'm proud to represent a company that has provided great service to the Iowa financial industry for over 25 years! The G.D. van Wagenen Company offers a wide range of collateral insurance programs to meet your needs. Programs like these: • Automated Insurance Monitoring • Blanket Single Interest Insurance • Conversion and Confiscation (Skip Insurance) • Mortgage Property Protection • Credit Life/Primary and Excess Accident and Health • Home Improvement Credit Insurance • Mobile Homeowners Insurance G.D. van Wagenen Company . . . Your Collateral Protection Specialists, with offices in Cedar Rapids, Phoenix, Minneapolis, and Denver. w G.D. van Wagenen P.O. Box 1902 Cedar Rapids, IA 52406 (319) 362-2923 1-800-328-2052 524 Plymouth Building 12 South Sixth Street Minneapolis, MN 55402 (612) 333-2261 Minnesota WATS: 1-800-742-5658 So give me a call. I'd be happy to visit with you personally and discuss your collateral insurance requirements. Invest a few moments now . . . I'll give you great service for years to come. Dave Hansen Marketing Representative Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis # 23 .Electronic spreadsheet ... ... offers rapid-fire “what if” calculations By NEIL STADLMAN Assistant Vice President and Manager FBS Agricultural Credit Corporation Ames, la. F all the applications available for micro comIf you are starting from scratch, list all the O w puters, the “electronic spreadsheet” has been one categories which should appear on your final report of the most popular over the recent years. Several elec and define them either as rows or columns. One of the tronic spreadsheets exist in the market place and they continue to grow in their degree of sophistication, yet their basic concept remains - an alternative to the 0 paper and pencil. The overall time savings in doing tra ditional calculations is tremendous, not to mention the savings in scratch paper! There is an immense differ ence between “what if” capabilities on an electronic spreadsheet and a wastebasket of intended “what if” 0 possibilities with a pencil and paper. Attempting to explain an electronic spreadsheet program in detail in an article of this type would be quite inadequate, but there are some general concepts to keep in mind when applying the electronic spread# sheet concept to your desired applications. What Decisions To Be Made? First of all, what decisions will be affected by the in formation involved in the development of the spreadsheet model? What factors are you interested in isolat i n g ? The real strength of an electronic spreadsheet is its flexibility to handle the single solution to a budget model or the sophistication of an analysis model that may have several inter-related calculations. The em_ phasis on a small amount of prior planning before ^w orking with the spreadsheet program can save a great deal of frustration. If you have a copy of the desired final report, the bulk of the work is already done. Since electronic ^spreadsheets use rows and columns to define locations, w (each intersection is often referred to as a “cell”) it be comes a matter of deciding what rows and/or columns need to be added or deleted. Another good idea is to es timate how many rows and columns the final report ^w ill have. This will aid in determining the format for hardcopy printouts. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis best tools is simply taking a traditional columnar ac counting sheet that already has numbered rows and is divided into columns. This will approximate the grid system that electronic spreadsheets follow. Tradi tional spreadsheets use numbers to identify rows and letters to identify columns. Don’t worry about all the fancy formating that can be done to give your reports more appeal, as those can be done later. Concentrate on the core part of your report format. Define Relationships The next step is to specify the mathematical rela tionships required to calculate each number within the report. Most spreadsheet users agree that this is per haps the non-glamorous part of working spreadsheets and where new users become the most frustrated. How ever, once the relationships are defined and entered, the “what if” excitement takes over, not to mention the increased time savings and accuracy. Electronic spreadsheets are like two sheets of paper. The scratch paper equivalent in the electronic spread sheet is stored in the computer’s memory and the re sults of your work, contained in the finished report, are displayed on the computer’s monitor or are available to be printed out. Spreadsheets contain many built-in functions to aid in defining various mathematical relationships. Consi der a monthly cash flow plan where each column would represent a particular month and each row a particular income or expense item. Summing up various groups of rows gives the total amount of income or expense. Once familiar with the basic concept of the electronic spreadsheet, one’s imagination begins to open count less other alternatives to problem solving. For those numbers not calculated within the final Northwestern Banker, May, 1984 24 report, identify those values which are input by the user directly into the final report. It may also be necessary to identify the mathematical relationships required to calculate the remaining values in the final report. Many spreadsheet users find it helpful to iso late all input values in a separate section of the model. This allows for more efficient entry, rather than mov ing around in the final report putting inputs here and there. It also allows others not familiar with the entire spreadsheet process to input data much easier. Learning Is On-Going Process Learning to use an electronic spreadsheet program is an on-going process. There are a number of reference books available to explain more “how to ” concepts,^ and more predefined reports often referred to as ‘temp lates’ are becoming commercially available. As one’s experience increases with the electronic spreadsheet, so does one’s productivity. Before you start going around and drawing rows# and columns on everything that you do, remember that the successful use of the microcomputer requires a def inition of specific needs. A commitment is required to learn and use these new tools and to overcome the frus trations associated with learning how to manage these# new concepts. In the end it may well provide one of the most productive gifts — the g ift o f time! □ Illustration of report format and definition of rows and columns to determine key formula PREVI OUS DAY' S DATE BALANCE 4-01 ANNUAL INTEREST RATE NEW CREDI T REPAYMENT $3,500.00 $3,501.49 4-02 4-03 $3,502.97 $.00 $. 00 $1,500.64 $1,501.28 4-04 4-05 4-06 4-07 4-08 4-09 $1,001.70 $ 1 , 0 0 2 . 13 $3,253.51 4-10 TOTALS $3,502.97 15.507. 15.507. 15.507. $500.00 15.507. 15.507. 15.507. 15.507. $1,500.00 I NTEREST TOTAL CREDI T EXPENSE BALANCE $1.49 $1.49 $.00 $.00 $0.64 $0.64 $3,501.49 $3,502.97 $0.43 $0.43 15.507. 15.507. 15.507. $2,250.00 $3,750.00 $1.38 $1.38 $4,002.97 $7.86 # # $.00 $.00 $1,500.64 $1,501.28 $1,001.70 # $1,002.13 $3,253.51 $3,254.89 # $1,683.51 (AVG B A D # TOTALS KEY FORMULA: Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AT F5 = AT G5 = AT A6 = ROW 16 = h h h $2,250.00 $3,750.00 TOTAL CREDIT BALANCE 15.507. 15.507. $1.49 $1.49 $3,501.49 $3,502.97 15.507. 15.507. 15.507. $.00 $ . 00 $0.64 $0.64 $.00 $.00 $1,500.64 $1,501.28 $1,001.70 $1,002.13 $3,253.51 $3,254.89 $0.43 $0.43 $1.38 $1.38 = = == == == ===:========== 15.507. 15.507. 15.507. h $1,001.70 $ 1 , 0 0 2 . 13 4-10 $ 3 , 2 5 3 . 5i = = == == == ==:=========== « 12 13 14 15 16 17 --------p ---------y < --------g ---------> I NTEREST EXPENSE 15.507. 15.507. $500.00 h h $1,501.28 11 it 4-07 4-08 4-09 ROW ROW ROW ROW ROW ROW ROW ANNUAL I NTEREST RATE $1,500.00 h $.00 $1,500.64 h 4-05 4-06 ROW 10 --------E---------X $3,502.97 it $3,502.97 $. 00 h 4-03 4-04 it ROW 7 ROW 8 ROW 9 » $3,501.49 h h h $3,500.00 4-02 h h h 4-01 ROW 6 h 3 4 5 it 1 jL h ROW ROW ROW ROW ROW •Í --------A---------> < --------B-------- > < --------C---------X ---------D-------- X PREVI OUS DAY' S NEW DATE BALANCE CREDI T REPAYMENT $4,002.97 ( B 5 + C 5 - D 5 ) * ( ( E 5 / 1 0 0 ) / 3 6 5) (B5+C5-D5+F5) +G5 TO BRI NG PREVI OUS D AY' S SUM AND AVERAGE FUNCTI ONS $7.86 BALANCE FORWARD # • • =========== $1,683.51 (AVG B A D • • 25 < 11 “Micros in Banking” Is Thorough Reference Book An excellent reference book, “Mi cros in Banking,” has been published ^ by Computer Based Solutions Incor porated of Atlanta Ga., authored by M. Arthur Gillis. The 320 page book is the only one written to date that covers the subject thoroughly and ^candidly to help the reader achieve practical solutions using microcom puters. It serves the interests of both beginner and expert on micros. The 8V2 x 11, spiral-bound book ^ lie s flat while in use and covers every conceivable important micro topic. It discusses software and hardware, micro’s place in banking, various applications of micros in 0 banking, how to select software, and the firms who market it, and con cludes with 25 case studies, exhibits and charts. In his foreword to the $75.00 ^book, Mr. Gillis states, “There are approximately 154 brands of micro computers to choose from and at least 100 vendors selling software to financial institutions. This is the on<|| ly book on how to use microcom puters successfully in financial insti tutions.” The book is directed to all levels of users, enabling beginners to read • about errors made by more skilled operators and avoid them, thus short-circuiting the learning period. The registration fee is $575 for members and $675 for non-members. Attendance is limited to just 25 per sons per session. For further regis tration information contact FIMA, 111 East Wacker Drive, Chicago, Il linois 60601, (312) 938-2570. Financial Institutions Marketing Association (formerly SIMSA) is a national professional organization for marketing executives in the fi nancial services industry. Its more than 1,700 members are employed by savings institutions, mutual sav ings banks, credit unions, other fi nancial institutions and firms that provide services to those institu tions. Financial Institutions Mar keting Association is affiliated with the U.S. League of Savings Institu tions. How to Put the “Finger” On Computer Crime Scenario: • Computer fraud is estimated at $50 billion a year. • Banks and securities firms find their secret wire transfer system computers are compromised with substantial losses. • Blueprints and models stolen from government and corporate offi ces. • Patients records in hospitals subjected to tampering. • College students invade univer sity and government “top secret” files to win bets. Solution? Fingerprint! Fingerprint? To stop computer crime? How do you read someone’s fingerprints on a computer? Michael Schiller knows how for he is president, CEO and chief techni cal officer of Fingermatrix, Inc., the crime-stopping company he founded in 1976. An engineer with many pa tents to his credit, Mr. Schiller pio neered the development of electronic fingerprint identification and verifi cation, and is responsible for the overall product design, development and direction of the $50 million Fin germatrix firm. Mr. Schiller is no fly-by-night computer sleuth. His credentials in clude a bachelor’s degree in electri cal engineering from MIT in 1956 and a master’s degree in electrical engineering from Columbia Univer sity in 1961, as well as scientific work at Sperry Gyroscope, Dynam ics Corporation and then Sequential PRESENTS •Hands-on Micro Seminars For Marketing Officers Financial services marketing offi cers will solve daily problems with a (^personal computer at a series of up coming Financial Institutions Mar keting Association workshops hosted by the Chicago-based firm. “ Fundamental Applications of ^Personal Computers for Financial Marketing Executives” will be taught by highly qualified special ists from the big-eight accounting firm Peat, Marwick, Mitchell & •Company. The two-day sessions will be 70% hands-on intensive. Participants will use popular software packages for spread sheet analysis, word proces s i n g , computer graphics, data collec tion and management, and personal computer communications. The workshops are scheduled for June 25-26, New York; August 6-7, •Chicago; September 13-14, Atlanta; and October 3-4, San Diego. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis “BUSINESS SOLUTIONS FOR THE 80’s” AN INFORMATIVE AND ENJOYABLE MEETING FEATURING: • Equipment Dem onstrations • A pplication S olutions For All Lines Of Business And Industry • Unique System S olutions TUESDAY, JUNE 5TH, 1984 WEDNESDAY JUNE 6TH, 1984 8:00 AM - 5:00 PM LOCATION THE DES MOINES MARRIOTT HOTEL 700 GRAND AVENUE DES MOINES, IOWA 50309 PLEASE CONTACT: BURROUGHS CORPORATION 1025 ASHWORTH RD, SUITE 500 WEST DES MOINES, IA 50265 ATT N DIANA HEITHOFF OR MIKE BARSEMA PHONE (515) 223-3330 f *1 “COMMITMENT TO EXCELLENCE” Northwestern Banker, May, 1984 26 Sign up now for a Free # Demo/Seminar OF MICROCOMPUTERSOFTWARE SYSTEMS In your bank. On our micro—or yours! If you are considering any of the software systems listed below you should also consider this valuable offer The nationwide sales force of Darien Microsystems is ready now to call on you—in your office—to demonstrate to you and your people the dramatic micro computer software systems of America’s foremost developers of micro computer software for financial institutions. If you are in charge of your bank’s micro computer planning program and not yet ready to buy, you should send for more complete system descriptions of each of these sophisticated software systems. Yes, they all operate on an IBM micro and most other micro computers. □ Fixed Asset Accounting □ Loan Origination & Document Printing □ Shareholder Accounting □ Asset/Liability Management □ Loan Loss Control □ Teller Staffing □ □ □ □ □ □ Safe Deposit Box Accounting Proof Management Trans-Check Management General Ledger Retail Selling Systems Commercial Customer Profitability Burroughs Plans “Software < Fair” in Six Major Cities For your in-bank demo/seminar—on your micro or ours—you may clip out this ad and send it to: ' — — ” — Darien MicroSystems, Inc. — — — — — —i 397 Post Road PO. Box 1106 Darien, CT 06820 Please contact me about a demo. Name. . Position. Institution Address _ City_____ State. Telephone Our Micro is a. Zip I am most interested in. Or call (203) 655-6832 Darien MicroSystems, Inc THE ONE SOURCE OF M IC R O C O M PU TER SO FTW ARE FOR F IN A N C IA L IN S T IT U T IO N S Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Information Systems, Inc., which he^ founded in 1961. In 1970 he founded^ Retrievex, Inc., and developed an automatic microfilm retrieval sys tem, the predecessor company of Fingermatrix, Inc. £ The product of Fingermatrix is based on the simple requirement that anyone authorized to access a computer protected by Fingerma trix equipment must have his or her£ fingerprints on file with the host computer. No fingerprint on file, no access! The system costs $7,000 to $8,000 per installation and uses a laser beam to scan a person’s finger-^ print, then compares it with the fin gerprint scan in its memory banks. Early users of the equipment in clude Chase Manhattan Bank and Chemical Bank, both of New York^i First Interstate Bank of California, and the Air Force. Your finger’s cut? Use the backup fingerprint! From now on, the for mer Ma Bell will have a competitor^ for her old slogan, “Let your fingers do the walking! ’’ □ J The North Central region of Bur roughs Corporation will sponsor a “Burroughs Software Fair” in its six district cities, according to Gor don R. Swanson, vice president and regional manager, Minneapolis. The schedule and hotel locations are: May 8-9—Minneapolis, Sofitel. May 31-June 1—Denver, Regency. June 5-6—Des Moines, Marriott. June 13-14—St. Louis, Airport Hilton. June 20-21—Omaha, Holiday Inn. Center. June 27-28—Kansas City, Grana da Roy ale. Burroughs marketing and market support will be demonstrating com-| puter hardware products and con ducting seminars featuring software solutions for all lines of business. In addition to Burroughs full equip ment line and application proprie-^ tary program products, between 20 and 25 independent software houses will participate in the daily activi ties. Software will be demonstrated for< business microcomputers, minicom puters and large main frames. Bank applications will include A/L man agement, document processing, mortgage loan closing systems and( a wide variety of accounting applica- 27 • Plattsm outh Banker “ Marks Tim e” in a Big Way! HEN David J. Duey retired recently as president W of Cass County Bank in Plattsmouth, Nebr., and became chairman of the board, he left a landmark that *will serve the people of his community for a long time. The “landmark” is a four-sided clock that stands 20 feet tall at the drive-in facility, and features extensive stained glass on all four sides. Dave Duey became interested in stained glass as a hobby 10 years ago. However, he had “made only a few pieces,” he reports, until he got the idea for making the big clock. “ I copied it from the Na tional State Bank in Boulder, Colo.,” he reports. “ It had been a corner clock on a Boulder building and they removed it, then mount ed it on a pedestal. I liked it and decided to do something like th at.” The result was 200 hours of stained glass work, which he did himself, and 100 hours of welding and assembly. “I had lots of help with the welding,” he readily states. “We Hkions (CDs, DDA) on a variety of machines and sizes. Mr. Swanson said “Burroughs hope is to provide a solution to every major line of business serviced by •com puters. Shown will be applica tion solutions to distributors, manu facturers, banks, educational insti tutions, savings and loans, hospi tals, clinics, contractors, account•a n ts , credit unions, insurance com panies, governmental accounts, util ities, cooperatives, retail businesses, newspapers, oil dealers, auto dealers and implement dealers. Other inno•v a tiv e capabilities will include bar code, voice response and plotters. • New Chart-Master Computer Graphics Program Released Decision Resources, Inc., of Westport, Conn., has announced the ^availability of CHART-MASTER 5.0 — an upgraded, more sophisti cated version of its easy-to-use soft ware program that produces profes sional quality graphics. Q “We have added important new enhancements to the powerful CHART-MASTER program designed to produce full-color bar, pie and line charts as well as scatter diagrams,” 0 said Decision Resources’ president, Sean O’Connor. He stated the 5.0 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis finished it in 1981 and put it at the drive-in location. It stands 20 feet tall, has more than 650 pieces of stained glass, four clocks and weighs one ton!” It required 2,576 solder joints and 42 pounds of lead strips. Mr. Duey reports that since it was put in use in 1981 the clock “has been nearly trouble free. It is lighted in side with fluorescent lights controlled by an automatic clock. I replaced one 40 watt tube one time and have reset it for daylight savings time. Other than that, we’ve had no trouble.” Perhaps the reason the clocks run without trouble is that Mr. Duey spent 20 years as a jeweler in south eastern Nebraska. He then joined the Nebraska bank ing department. In 1966 he obtained a charter for Cass County Bank, serving as its president until his retire ment last month, when he was succeeded by his son, Douglas V. Duey. When Plattsmouth residents look at the time on the Cass County Bank clock, they will also be reminded of three special events that fell on the same date “The Anniversary Clock” was dedicated in 1981—it was Dave and Wilma Duey’s 40th wedding anniversary, the 15th anniversary of the chartering of Cass County Bank, and the 50th anniversary of the Kass Kounty King Kong Karnival in Plattsmouth! □ version which links IBM Personal backup diskette is sent when the Computers to a variety of plotters, warranty registration card is received. offers the user a great deal of flex ibility. SECOND EDITION According to Mr. O’Connor, Ver sion 5.0 is the only graphics pro MICROS in BANKING gram to offer the user seven pages of by options to allow easy customization M. Arthur Gillis of charts. Table of Contents Version 5.0 is designed to provide Sorting Out the Facts and Myths About Micros the user with on-screen previewing Software — What is it and Why is it so Important of charts which can then be pro To Make or Buy Software duced on paper or acetate sheets for Hardware — How to Buy the Right Brand The Micro’s Proper Place in Banking transparencies. Micros as Transaction Processors New text-handling features have also been added to CHART-MAS TER, offering a selection of six dif ferent character fonts including standard, Bold, Roman and Bold Roman. Now the user can choose from text in 16 sizes and eight colors depending on the personal computer screen and the plotter capabilities, to produce titles, labels and foot notes. Mr. O’Connor said Version 5.0 will provide any office with its own “in-house graphics studio” for a re tail price of $375—the same price as the original version of the CHARTMASTER program. The program is available at com puter dealers nationwide in a pack age that includes a complete instruc tion manual and a 5Va diskette — a Micros as Analytical Instruments and Decision Aids How to Establish and Maintain Support Services Budgets and Costs Data Security How to Select Asset/Liability Management Software New Trends — Opinions of 27 Experts Twenty-Seven Software Firms Bankers Should Know Twenty-Five Case Studies Twenty-Five Exhibits and Charts Twenty-One Sources for Additional Information Customized Glossary Rules for High Performance • over 340 pages • practical advice • very easy to read and interesting • very comprehensive coverage • actual experiences portrayed throughout Please send ___ copy(ies) of "Micros in Banking" at $75.00 each postpaid. Check enclosed in the amount of $ _________________ . Outside U S. add $25 for postage & handling. C Computer Based Solutions, Inc. 3390 Peachtree Rd., N.E. Suite 1148 Atlanta, GA 30326 Northwestern Banker, May, 1984 28 NEWLY elected IBAA officers are: Second Vice President— Charles Doyle; First Vice Presi dent— B.F. “Chip” Backlund; President—A.J. “Jack” King; Immediate Past President — James Herrington, and IBAA Executive Director— Kenneth Guenther. M ontana Banker Jack King Elected to IBAA Presidency By STEVE BURCH Associate Publisher EMBERS of the Independent M Bankers Association of Amer ica met in New Orleans last month for that group’s 54th annual conven tion. Highlighting the convention activities was the election of A.J. “Jack” King to the IBAA presiden cy. A Montana native, Mr. King’s banking career spans 31 years and he is president of Valley Bank in Kalispell, Montana. B.F. “Chip” Backlund, president of Bartonville Bank, Bartonville, Illinois, assumes the duties of first vice president and Charles Doyle, chief executive offi cer of Gulf National Bank in Texas City, Texas, was elected second vice president. Serving as treasurer will be Charles Van Arsdale, president of Bank of Castile, Castile, New York. Immediate Past President Jim Herrington, chairman of Coldwater National Bank, Coldwater Kansas, focused on the “vital signs” of com munity banks in his keynote ad dress. “If I had to choose one theme, one common thread, that has linked each and every one of the various groups and individual banks with whom I have met during the past year, it would be the sense of opti mism and renewed self-confidence that seems to be taking hold again among community banks. The vital signs for community banks have never been healthier—the fighting spirit of independent bankers has never been more robust.” Mr. Herrington lashed out at pro ponents of regional or interstate banking who claim that changes in current geographical restrictions are inevitable. “Don’t buy that inevita bility nonsense.” He went on to ex ample the recent defeat in the Iowa legislature of a proposed interstate reciprocity bill. “The interstate banking proponents at one time had 17 lobbyists working in the Iowa legislature. The Iowa Independent^ Bankers swung into action to get their message across...” He added, ‘‘The once ‘inevitable’ bill was de feated by more than a 2 to 1 margin. The big bank proponents were a pa-^ per tiger compared to the larger group of organized and enthusiastic independents.” Secretary of Agriculture John Block unveiled the details of the new # FmHA lender program during his presentation to the independent bankers. During a press conference following his speech, Mr. Block com plimented the IBAA leadership a n d # IBAA A g ricu ltu re Com m ittee Chairman Tom Olson, president of Lisco State Bank, Lisco, Nebraska, for their role in the development of the loan guarantee program. (See# N o r th w ester n B a n k e r Weekly Newsletter April 2, 1984.) Mr. Block was quick to acknow ledge the important role of the inde pendent banker in the agricultural# industry. “Farming is now a ‘hitech,’ capital intensive business. More than ever, farmers and lenders must be effective partners if there is to be an appropriate balance be-# tween investment in the future and prudent use of credit capital.” The Secretary reviewed with the bankers agricultures growing depen dence on general economic condi-^ tions. “Events of recent years have shown our farmers, and the busi nesses they buy from and sell to, just how much they have at stake in macro-economic policy.” He coupled® with this review the response in the agricultural industry to the various recovery/recession business cycles of the past 10-15 years. “C urrently,^ the continued economic recovery i n ^ 1984 will most likely generate the strongest increase in farm level de mand from domestic economic con ditions in over 5 years. Demand at ^ the farm level for agricultural pro ducts depends directly on final de- LEFT— Newly elected IBAA President Jack King and wife Almeda enjoy reception thrown by fellow Montana bankers. RIGHT—Secretary of Agriculture John Block (center) visits with IBAA Agriculture Committee Chairman Tom Olson, pres., Lisco St. Bk., Lisco, Neb. and IBAA # Immediate Past President Jim Herrington, chmn. & pres., Coldwater Natl. Bk., Coldwater, Kan. Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 29 LEFT— Hosts of the Illinois reception Included: Carol and Don Lovett, chmn. & pres., Dixon Natl. Bk.; Jean and Chip Backlund, pres., Bartonville Bk.; IBA President Charles Wilson, chmn., First Natl. Bk. of Quad Cities, and Kathy, and IBA Executive Vice President Bill Hooter ^ a n d June. RIGHT— Dee and Bernie Miller, corr. bkg. off., American Tr. & Sav. Bk., Dubuque la., visit with Karen, Zella and Norris Kuenzel, pres., Garnavillo Sav. Bk., Garnavillo, la. mand for finished goods—which is beginning to improve both here and f|abroad.” Mr. Block also underlined the staggering effects of the federal deficit and the lagging international recovery on agriculture. In com menting on domestic content legisla t i o n , Mr. Block stated, “We will not be effective or credible in our efforts to promote free trade and expand our exports if our trade policies are not consistent across all sectors of • th e economy and, indeed, for all agri cultural commodities. In other words, we cannot be free traders for one product or industry and protec tionists for others.” ^ In closing, Mr. Block encouraged the bankers to support federal poli cies that are consistent with sound general economic policies. “The time ^ is past when agricultural interests and impacts can be ignored in the making of macro-economic policies. I urge that you consider the complex linkages between agriculture and ^ th e macroeconomy. And then I urge you to support economic policies which are in our enlightened self in terests.” . The condition of the banking sys t e m was reviewed by Federal Depos it Insurance Corporation Chairman William Isaac. He noted that the 48 bank failures experienced in 1983 represent the highest number since ®1937 and the failure rate for 1984 is expected to be in the range of the past two years. “Despite the out look for bank failures, the condition ^>f the banking system continues to im prove. The growth in the number of problem banks appears to be slowing.” He was particularity opti mistic about the prospects for com^ n u n ity banks. “Many forecasters predict that the future of communi https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ty banks will be bleak in the wake of an expected massive consolidation in the banking industry and passage of legislation to expand more bank powers. I could not disagree more.” He went on to cite the favorable po sition of community banks to take advantage of expanded powers, not ing specifically high capital levels, an established customer base and close community ties. In turning his focus to deposit in surance reform, Mr. Isaac stated, “During the past several years we have witnessed a dramatic transfor mation of our financial landscape. The new environment offers exciting opportunities for well-managed banks of all sizes. At the same time, it exposes banks to greater degrees of risk than in the past.” He added that it is the FDIC’s position that well-managed banks should not lose business to, nor subsidize marginal banks. He went on to outline two areas of change in FDIC operating procedures and policy which he is in itiating. The first change, which is con tained in proposed legislation sent to the Congress in November, would allow the FDIC to vary the assess ment rebate to banks according to the risk a bank poses to the deposit insurance fund. Initially, there would be three risk classes of banks. The normal risk banks, which repre sent 85-90 percent of all banks, would receive the full rebate. Riskier institutions would receive half the rebate, and those considered to be the highest risk would receive no rebate. The FDIC proposal calls for institutions to be charged for all above-normal costs of supervision. The undermining of market disci plines by the deposit insurance sys tems is the second area of concern to Mr. Isaac. “Our efforts to encourage more discipline in the banking sys tem will be undermined if nothing is done to limit the practice of brokers sweeping the nation for funds and placing them in banks that pay the highest rates of interest irrespective of the condition of the banks.” The FDIC and Federal Home Loan Bank Board have jointly proposed changes in the insurance regulations to limit the federal guaranty on brokeraged deposits. “I want to take this opportunity to thank the community bankers of our nation for their support of this critically impor tant reform. A well attended convention ses sion was the Congressional panel on banking deregulation which included Peter Wallison, General Counsel of the United States Treasury; Danny Wall, staff director of the Senate Banking Committee, and Kenneth McLean, minority staff director of the Senate Banking Committee. Mr. Wallison discussed the Administra tion’s Competitive Equity Act which addresses the Administra tion’s concern over the ability of banks to compete with diversified fi nancial services companies. The bill offers banks broadened powers, “but we can’t tell now under what conditions.” He added that, while conventional wisdom says that there will be no powers bill this year, he thinks the prospects are good for action to close some bothersome loopholes and provide some broad ened powers to bank holding com panies. Commenting on the loophole for the definition of a deposit institu tion, Mr. Wall noted, “Defining de posit institutions is not a simple solution. We have to deal with what is a bank and then with the question Northwestern Banker, May, 1984 30 LEFT— The Drovers Bank of Chicago reception line included John Crotty, sr. v.p., and Vicki and Frank Bauder, chmn. RIGHT—Attending the South Dakota Bankers Association reception were: Bud Weisser, sr. sales rep., Daktronics, Inc., Brookings; SDBA President C h u ck# Ekstrum, pres., First Natl. Bk., Philip; SDBA Executive Manager Milt Schwartz, and Bob Frei, v.p., Commercial St. Bk., Wagner. LEFT— Guests were welcomed to the American National Bank of St. Paul reception by Bob Sippie, sr. v.p., and Brownie, and Kathy and Joe Kingman, pres. RIGHT—Iowa Independent Bankers President Arnie Schultz and wife Imogene visit with Pat and Bob Donhowe, chmn., Norwalk-Cumming St. Bk., during MB reception. LEFT—Jim Hart, pres., Hand County St. Bk., Miller, S. Dak., and wife Nini visit wilh Carol and Dick Holmes, asst, v.p., F & M Marquette Natl. Bk., Mpls. RIGHT—Montana bankers attending the convention included Pennie and Gene Coombs, v.p., Security Bk., Billings, and Ron Ahlers, v.p., First Security Bk. of Bozeman. LEFT— Bill Manring (center) v.p., First Natl. Bk., St. Joseph, Mo., welcomes Gary Edwards, v.p., Golden St. Bk., Golden III., and wife Pam, ^ and Ann and Randy Riley, pres., Farmers Bk., Green City Mo., to the First National courtyard reception. RIGHT—Ann Doyle, v.p., and Dan ® Doyle, pres., Wellman Sav. Bk., Wellman, la., visit with Bev, Kelly and Ron Carnago, pres., Sandy St. Bk., Sandy, Utah. Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 31 of how we provide for banks.” He ^advised the bankers to take an inter est in a banking bill this year be cause of the expanded powers issue and the regional interstate banking pacts being developed. ® In contract, Mr. McLean, repre senting Senator Proxmire, does not feel the need for sweeping change. ‘‘The Senator sees banks as unique institutions and they should stay within the boundaries of banking. The public doesn’t seem to be clam oring for these broadened services, but if Congress does not do some thing to plug up some loopholes in the law, it will turn the financial ser vices industry upside down.” Two popular speakers entertained the convention’s luncheons. Maur- een Reagan recounted the history of women’s rights in this country in an address that was, at the same time, humurous and pointed. Security consultant Frank Abagnale followed his luncheon speech on the life of a con artist with a special interest pre sentation on things bankers should watch for to protect their institu tions against fraud. □ T.EFT— Television Personality Jayne Kennedy is joined by Bankers Systems, Inc. executives Bob Obermiller (left) natl. sales mgr., and John Weitzel, exec, v.p., both of St. Cloud, Minn. RIGHT—Omni Resources, Inc. Vice Presidents Lori Frank and Bud Boughton offer Florida orange juice to exhibit visitors. 0L E F T — Brandt, Inc., located in Watertown, Wisconsin, was represented by Harry Nedoma, dist. mgr., and Gene Spenger, sales rep. RIGHT—Manning the HBE Bank Facilities exhibit were Account Executives John Bodnar and Jerry Sano, both of St. Louis. F. \ . KANkWUtlmuuv M Last year,; met 2,(100 # f inancial instkutM«» fast their shirts. LEFT— Bank Building Corporation representatives included: Herb Akers, cust. serv. mgr.; Beril Bohrer, sr. consul ; Rex Dunlap, sr. v.p., and ^Dallas Selby, v.p. RIGHT— Bill Goedken, pres., F.N. Bankware of Omaha, Neb., stands in front of large poster which caught a few “ double takes” during the convention. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 32 Trust Corporation, stated, “We a r ^ pleased with the wide acceptance or Northern Trust Brokerage by perso nal and correspondent bank custo mers.” Mr. Hickey will continue as presi^ dent of Northern Trust Brokerage. Continental Sells Credit Card Business to Chemical announced an agreement in principle for First Illini to acquire the Abing Skokie Trust & Savings Bank has don Bank & Trust. The acquisition announced the promotion of Nirma- is subject to regulatory approval, la Patel and Kathleen Coughlin to which is expected to be forthcoming senior tellers. before the end of 1984. Ms. Patel previously held posi On May 1, First Illini consum tions at financial institutions in mated a merger transaction with England and Canada. First Galesburg National Bank & Ms. Coughlin is a graduate of Trust Co., at which time First Gales Northeastern Illinois University burg became a wholly-owned subsi where she received a degree in ac diary of First Illini. counting. Skokie Advances Two Acquisition Completed SATM Midwest and EFI Announce Plans to Link SATM Midwest, Inc., a subsidi ary of ATM Network Management Corp., and Electronic Funds of Illi nois last month announced the com pletion of an agreement to allow fi nancial institutions throughout Illi nois, who are serviced by these enti ties, broad-scale, reciprocal sharing of ATMs, through the linking of the SATM Midwest computer center in Illinois with that of EFI. The connection between SATM Midwest and EFI effectively means that a financial institution which is serviced by one entity may now share its ATMs with a financial in stitution serviced by the other enti ty. Prior to this agreement, the tech nical linking needed to allow this sharing was not in place, making this agreement a milestone for Illi nois financial institutions who offer ATM services to their customers. Midwest Financial Group, Inc., Peoria, has completed acquisition of United Bancorporation, Inc., a sev en-bank Rockford area bank holding company. Under terms of the transaction, MFG paid $35 million in cash and notes and issued 32,787 shares of MFG stock with a market value of about $500,000 to the stockholders of United Bancorporation. No changes in United Bancorpo ration management, boards of direc tors or staff will result from the transaction. Northern Trust Acquires Jerome Hickey Associates Northern Trust Corporation, pa rent company of the Northern Trust Company, Chicago, has officially completed its purchase of Jerome Hickey Associates, Inc., a Chicagobased discount brokerage firm, which will become Northern Trust Brokerage, Inc. The firm, founded in 1979 by Jer Galesburg Director Named ome E. Hickey, is headquartered at Sally C. Day, director of Gales 115 South LaSalle Street, Chicago, burg Printing and Publishing Co., with an office in Scottsdale, has been elected to the board of Arizona. First Galesburg National Bank & Northern Trust was the first Chi Trust Company. cago bank to enter the discount bro kerage business through the pur Acquisition Announced chase of an already-established firm. Malcolm E. Lambing, Jr., presi A definitive purchase agreement dent of First Illini Bancorp, Inc., was signed in October of 1983. Com and Rae C. Heiple, president of menting on the acquisition, Charles Abingdon Bank & Trust Co., have H. Barrow, president of Northern DigitizedNorthwestern for FRASERBanker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Continental Illinois N a tio n a l Bank and Trust Company of Chica go and Chemical Bank of New York jointly announced an agreement for the sale to Chemical of Continental’s credit card and related m erch an t processing business. The purchase price of approximately $1 billion in cludes a premium of $176 million for the net receivables and assets of Continental’s charge card division. ® Following the acquisition of Con tinental’s MasterCard and Visa credit cards, known as Town & Country Charge, Chemical will have approximately 2 million cardholder ® in all 50 states. Bank Building Awarded Contracts for $26 Million Bank Building Corporation, St. Louis, has been selected to design and build 12 financial facilities in 10 states at a total cost estimated at $26 million. £ The company is the nation’s lar gest designer and builder of banks, savings and loans and credit unions, with more than 8000 completed pro jects since its founding 70 years ag o ^ Chicago News Kenneth A. Skopec, president o^* The Mid City National Bank of Chi cago, has been elected a member of the board of directors of the Better Business Bureau of Chicago and Northern Illinois, announced Earl^ Lind, president of the Better Busi ness Bureau, at the group’s recent annual meeting at the H yatt Regen cy Hotel. * * * 0 John E. Morlock and Jeanne R. Hensel have been elected commer cial loan officers at Main Bank of Chicago, according to William C. O1-0 sen, president. Mr. Morlock previously was a loan representative at the bank. Ms. Hensel has been a loan repre sentative with Drovers Bank of Chi-# cago since 1981. 33 Citizens to Adopt First Interstate Name W BA Elects 1984-85 O fficers HE WISCONSIN Bankers AsT sociation announced last month the names of the newly-elected offi • ® ^ ® cers and members of the WBA exec utive council for the 1984-85 fiscal year. The new officers will begin their term following the associa tion’s annual convention in Milwau kee, June 10-13. Current WBA President William J. Morrissey, president of the Independence Bank, Elkhorn, will be suc ceeded by John W. Johnson, who presently serves as WBA vice presi dent and president of Bank of Spring Green. Dean A. Treptow, president of the Brown Deer Bank, will succeed Mr. Johnson as vice president and Rich ard J. Roesler, president of the First National Bank, Platteville, will succeed Mr. Treptow as the new associ ation treasurer. Bryan Koontz con ^ Elected in Fond du Lac tinues as executive director. New members of the 1984-85 Ex ecutive Council to be installed are: John Becker, president, First Wis consin National Bank, Madison; Harry B. Conlon, Jr., president, As sociated Banc-Corp, Appleton, and Leonard Hoffman, vice president, First National Bank, Bangor. Continuing as council members are: Larry H. Bender, senior vice president, Security State Bank, Minocqua; Larry J. Carson, presi dent, Lancaster State Bank, Lancas ter; Knox D. Corrigall, chairman and president, First National Bank, Ke nosha; Richard P. Klug, executive vice president, F&M Bank, Meno monee Falls; John Misener, presi dent, M&I Merchants Bank, Rhine lander, and T.L. Schiefelbein, presi dent, Security National Bank, Du rand. Bank as executive vice president in 1973 and was named president later that year. Mr. Hall joined the bank in 1983 and had been serving as se nior executive vice president. Prior to joining the bank he was the foun der and principle consultant of Fi nancial Institution Consulting Ser vice, Westpoint, Conn. John W. Patterson has been nam ed executive vice president and a director of First Wisconsin National Bank, Fond du Lac. He succeeds # Dale G. Brooks, who has accepted the position of president and CEO of American Bank of Fond du Lac. Mr. Patterson had been serving as president at the First Wisconsin af# filiate in Mayfair since 1978. He will Colfax President Named be succeeded at the Mayfair bank by John O. Barton has been named John T. Franey, who currently is vice president and commercial ser president and chief executive officer vice manager at First Wisconsin Na- of First American Bank of Colfax. Mr. Barton most recently was se # tional Bank of Milwaukee. nior vice president and second offi cer of First American Bank and Two Named in Shawano Trust of Willmar, which he joined in To Top Executive Positions 1974. During his 32-year banking ca £ Clarence Bleser, chairman of reer, Mr. Barton has served as presi Citizens State Bank, Shawano, has dent of Marquette Credit and Re announced the promotion of Gerald covery, Inc. of Minneapolis; assis H. Beier to the position of co- tant vice president of Marquette Na chairman and the appointment of tional Bank of Minneapolis, and vice 0 Michael A. Hall as president. president at Bank of Minneapolis Mr. Beier joined Citizens State and Trust Company. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Citizens Bancorporation, Sheboy gan, has announced a franchise agreement with First Interstate Bancorp., Los Angeles, Calif. Under the terms of the agreement, Citizens, with year-end assets of $650 million, would change its name to First In terstate Corporation of Wisconsin and its 18 bank offices in eastern Wisconsin would change their names to First Interstate Bank of Wiscon sin. The name changes are expected to take place in 6-7 months. There will be no change in Citi zens management or ownership, ac cording to Richard D. Pauls, chair man, and David C. Beck, president. Nor does first Interstate have an op tion to purchase Citizens if inter state banking becomes legal in Wis consin. Pending acquisitions in West Al lis, Waupun and Racine are expected to add five more locations to Citi zens Bancorporation. Jerry Smith & Associates Consulting Company Formed Jerry Smith, formerly president and chief executive officer of Indedendence Bank, M adison, has formed a new company called Jerry Smith & Associates. Lo cated in Madi son, the new com pany will serve as a financial services indus J. SMITH try consultant specializing in sales, marketing and strategic planning. Mr. Smith has been in commercial banking over 20 years with banks in Appleton, Marinette and Madison. Valley Bancorporation To Acquire Bank of Oregon Plans were recently announced for the affiliation of Bank of Oregon, with total assets of $35.5 million, with Valley Bancorporation, Appleton. A plan calling for an exchange of stock has been approved by both bank and holding company directors. The affiliation is subject to ap proval by the Federal Reserve Sys tem and the shareholders of the Bank of Oregon. Northwestern Banker, May, 1984 We extend more than credit. We extend ourselves. We built our correspondent reputation on personal service. The kind of service based on lasting mutual respect. And even though w e’ve become a billion dollar bank, our philosophy hasn’t changed. Extending ourselves is our way of life. Seven days a week. Wherever you are, whenever you need us. We’ve been there, and we'll keep coming back to meet your • respondent needs in the years to come. Call us anytime for all Correspondent Banking services at 612/341-6561. A F&M Marquette Naowai Bank Correspondent Banking Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 35 eludes teaching, adult education de velopment, and administration in the Lakeville and South St. Paul school districts, and personnel ad ministration and staff training at Norwest Bank in St. Paul. Elected in Pipestone New President Named At First Bank Spring Valley # First Bank Spring Valley has elected Evan B. Jones president. He succeeds Thomas B. Johnson who has been appointed vice president of regional credit for First Bank Sys# tern’s southeast Minnesota region, headquartered in Rochester. E.B. JONES T.B. JOHNSON Mr. Jones has held his current po0 sition as vice president of agricul tural lending and operations at First Bank Mankato since 1976. He began his banking career in 1962 when he joined First Bank Jamestown, • North Dakota. Mr. Johnson has been associated with First Bank System since 1969, when he joined First Bank Mankato. In 1979, Mr. Johnson was elected • vice president and manager of com mercial lending, a position he held until 1980 when he was elected pres ident of First Bank Spring Valley. • June 24-29 Dates For Minnesota School of Banking The Minnesota School of Bank ing, sponsored by the Minnesota % Bankers Association, this year will be held June 24-29. The Minnesota School of Banking provides bank management with a complete program for general man• agement development. The program consists of two one-week resident summer sessions at St. Olaf College, Northfield. The School of Banking is one of 12 • schools nationwide to be affiliated with the American Bankers Associa https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The board of directors of First Bank Pipestone has elected Barrett deCathelineau agricultural loan offi tion’s professional development pro cer. gram. Mr. deCathelineau previously was employed by the Pope County State Bank, Glenwood, as manager of the Duluth Chairman Named bank’s Villard Office. Prior to this Norwest Bank Duluth, N.A. has he was with Arlington State Bank. announced the election of Charles A. Russell as chairman. He joined the bank’s board in Henderson President Named 1983 and has served as president of William E. Schultz has been ap Norwest Corporation Region I since pointed p re si its formation in 1982. He will serve a dent of the Sib dual role for Norwest Corporation ley County Bank, continuing as president of region I Henderson. while assuming the chairmanship of Formerly vice the Duluth bank. Dennis W. Dunne, p re sid en t and who earlier announced his retire c a s h ie r, M r. ment, will continue as president and Schultz has been CEO until he actually retires with the bank August 31. A new president has not since 1968 and yet been named. in banking over W.E. SCHULTZ Mr. Russell has been accociated 16 years. He suc with Norwest Banks since 1959, ceeds Fred B. Johnson, who recently when he joined Norwest Bank Min retired from the bank. neapolis, N.A. In 1974 he was ap pointed president and CEO at Nor Slayton President Elected west Bank Old Saint Anthony, Norwest Corporation has an where he served until 1979 when he nounced that Jerald L. Tiggelaar joined the corporate office of Nor has been elected west Corporation. president of Nor west Bank Slay Joins MBA Staff ton. Form erly The Minnesota Bankers Associa vice president tion has announced the addition of and senior loan officer at the Brian Becker to bank, Mr. Tigge its staff as pro la ar succeeds gram coordina Palmer A. Hofftor. He will have land, Jr., who responsibilities J.L. TIGGELAAR for development has resigned. Norwest also announced that and coordination John R. Troth, president of Norwest of various educa Bank Worthington, N.A., has been tional activities elected to the additional post of of the associa tion. chairman of the board of Norwest B. BECKER M r. B ecker Bank Slayton. He will continue as holds a bachelor’s degree from Mis president of the Worthington bank. souri Southern State College, and a Mr. Tiggelaar transferred to the masters’ degree from the University Slayton bank in July, 1983, from of Minnesota in secondary educa Worthington, where he was vice tion. He is currently a doctoral can president and head of agricultural didate at the University of Minne lending for Norwest Bank Worth sota in adult education. ington. He joined the Worthington Mr. Becker’s career experience in- bank in 1973. Northwestern Banker, May, 1984 36 Fenwick C. A twill has been elected an executive vice president at First Bank Saint Paul, where he will de velop and direct a new credit admin istration function. On February 29, Mr. At will re tired as executive vice president in charge of the credit administration department at First Bank Minnea polis, his employer since 1946. F.C. ATWILL K.S. BEZDICEK Also announced at the bank was the addition of Kenneth S. Bezdicek as the vice president responsible for the international banking division. Mr. Bezdicek transferred from First Bank Minneapolis where he was vice president in international financial services. From 1977 to 1980 he was a credit liaison officer at First Bank System. * * * F&M Marquette National Bank, Minneapolis, has named William A. Laing senior vice p re s id e n t in charge of the re tail division and F&M Marquet te ’s Southdale and Brookdale detached facili ties. Before joining F&M Marquette, vv.A. LAING Mr. Laing was president of Marquette Bank and Trust Company in Rochester, and prior to that he was president of Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Marquette State Bank of Columbia Heights. He also served in a variety of capacities at Northwestern State Bank of Osseo for 12 years. * * * Rasmussen is one of 229 Small Busi ness Advocates selected from across • the country. Mr. Rasmussen joined Norwest Bank Minneapols in 1979. In 1981, he was named executive manager of Gerald Ranfranz has been named the bank’s newly opened 12501 ® president of Marquette Lake State Ridgedale Drive office. He was named Bank in Minneapolis. Previously ex manager of metro business banking ecutive vice president, Mr. Ranfranz for the office in 1983. has more than 15 years banking ex perience and three years in finance. David J. Prochaska has been ap He formerly was employed by F&M pointed vice president of regional Marquette National Bank. for Also announced at the bank were tr e a s u r y the promotions of Sally Jo Harff to First Bank Sys vice president and branch manager tem, Inc. Mr. Prochaska and Ed Kennedy to vice president has been associ and cashier. Ms. Harff, in her new position, ated with FBS will be responsible for the marketing since 1976, when and personal banking departments he joined the at the bank’s main banking facility. company as an Mr. Kennedy previously was an investment ad ministrator. He assistant vice president. has held his most DJ- PROCHASKA * * * recent position of assistant vice National City Bank of Minneapo president-bond portfolio manager lis recently announced the election and analyst since 1980. * * * of W alter E. (Bud) Meadley Jack V. Pedersen and Roger L. to the bank’s Scharton have been named vice board. presidents by First Bank Minneapo Mr. Meadley lis. has headed Na tional City’s in vestment depart ment since he joined the bank in 1970 and is W.E. MEADLEY currently execu tive vice president in asset and lia bility management. * * * Robert L. Rasmussen, assistant vice president and manager of metro business banking for the Norwest Bank Minneapolis, N.A. 12501 Ridgedale Drive, has been named Minnesota’s 1984 Small Business Banking Advocate of the Year. Mr. J.V. PEDERSEN R.L. SCHARTON g Mr. Pedersen joined the bank in 1981 as assistant vice president in the business owners section. Mr. Scharton had been assistant vice president in the executive and • professional banking center. Bond Swaps: Do they always improve your profit picture? In your year-end tax planning strategy, it may make sense to consider bond swapping. But the only way to know for certain is to ask an expert. For instance, suppose your portfolio includes a bond with a loss and you want to realize that loss this year in order to offset taxable income. You can sell the bond to realize the loss this year and reinvest in a bond of comparable quality. Of course, you could decide to invest in a higher quality bond with a lower yield for safe ty. Or, you could invest in a bond with a longer maturity to lock in current yields. You might even switch from municipals to taxable bonds, depending on your tax situation. Which strategy is right for your bank? Tax Swaps? Quality Swaps? Rate Anticipation Swaps? There are no simple answers. The alter natives must be analyzed carefully by experts. That’s where we can help. The bond officers at First Bank Saint Paul’s Investment Services Group will be glad to review your portfolio for you. We’ll share our ideas with you in writing and help you decide which strategy is right for you. Together, we’ll frame an answer that will improve your profit picture. Call us at:(612) 291-5659. First Bank Saint Paul Member First Bank System Investment Services Group 332 Minnesota Street Saint Paul, Minnesota 55101 A Full Service Bank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member FDIC 38 Minnesota News Thomas R. Madden has been elected assistant vice president in the commercial loan department and Carolyn E. McAdams has been elected commercial banking officer at First Bank State, St. Paul. T.R. MADDEN C.E. MC ADAMS Mr. Madden began his banking career with First Bank System in 1974. His most recent position was with First Bank Security in its com mercial lending department. Ms. McAdams began her banking career as a management trainee at First Bank State in 1981. * * * Gregory P. Olson has joined FBS Business Finance Corporation as marketing officer in the leasing and equipment finance division. Mr. Olson formerly was a leasing sales executive with Scientific Leas ing, Inc. * * * Norwest Bank Minneapolis, N.A. has installed a security system called SAFE (Secured Access for Entry), which eliminates the chance of un authorized access to its computer ized funds transfer system. According to Stephen Holahan, vice president and manager of Norwest’s cash management services, the system allows the corporations to make wire transfers of funds through terminals, such as personal computers, located in their offices. The customers need only a terminal, a telephone and a modem which al lows data to be transmitted through the phone. The connection is made when the client enters a code into the terminal which is received by the SAFE sys tem at the bank. SAFE checks to make sure the code is authorized, then transmits the entry to the wire transfer computer which automati cally calls the customer back on the telephone number associated with that code. Mr. Holahan pointed out that, since SAFE intercepts all incoming calls, the wire transfer system can Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis not be reached without code verifica tion and call-back. Also, the system operates only during regular busi ness hours and, because the cus tomer must make the transfer from only one designated telephone, the company can ensure controlled ac cess to that telephone. * * * Norwest Corporation has an nounced the appointment of one vice president, and 11 new client execu tives. Peter R. Reis will serve as vice president and manager, business banking, a new position in the corpo ration’s retail business group. He formerly was senior vice president and head of the financial services de partment of Norwest Bank Minne apolis, N.A. Norwest’s appointment of 11 client executives is in addition to the financial institutions personnel now at Norwest Bank Minneapolis, N.A., Norwest Bank Des Moines, N.A., Norwest Bank Omaha, N.A. and Norwest Bank Midland, N.A. in Minneapolis. The client executives will play a key role in Norwest’s new Hub Sys tem — a system designed to bring customer representatives closer to their respondent bank clients. Darin P. Narayana, senior vice president and head of Norwest’s Financial In stitutions Group, said, “A top prior ity for the client executives will be to develop new products and servi ces tailored to each respondent bank’s unique local marketplace. Each client executive will act as the primary contact for Norwest’s re- P.R. REIS D.R. EGGIMANN R.M. SEDERBERG, JR. T.L. SCHLEIF L.W. WOHLMAN J.L. GARVER J.F. VANSICKLE J.R. HOLM HI P. CAPPA J.G. PLATEK K.W. SAYRE spondent bank customers in their local area.” ^ The new client executives and the Norwest banks from which they will be working are: In Minnesota: Robert M. Sederberg, Jr., Nor-# west Bank Duluth, N.A.; David R. Eggimann, Norwest Bank Mankato, N.A.; Terry L. Schleif, Norwest Bank Marshall, N.A., and Leonard W. Wohlman, sales manager and# client executive, Norwest Bank Ro chester, N.A. In Iowa: James L. Garver, Norwest Bank Mason City, N.A. • In North Dakota: Jack F. VanSickle, Norwest Bank Bismarck, N.A., and John R. Holm, Norwest Bank Fargo, N.A. In South Dakota: ® Thomas E. Goetz, Norwest Bank 39 • • • We’re Dawson Hail Insurance and we’ve been around since 1917. Our company has weathered the Great Depression, World War II, and years of biting inflation. We face the future with confidence in our stability. Dawson Hail Insurance. We’ve survived, grown and prospered when others have failed. Our success is based upon a few simple principles. First, we make buying hail insurance easy and uncomplicated. We’ve eliminated the red tape by cutting down on paperwork. That means your policyholders get faster, better service. Secondly, our adjusters are the very best. . . experienced, professional, fast and fair. Finally, we’ve developed a reputation for customer service that is second to none. Go with the company that’s as solid as the ground you walk on. DAWSON HAIL INSURANCE We’ve been there since 1917. We’ll be there for you. CALL TOLL FREE: 1-800-437-4680 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FARGO, NORTH DAKOTA IN N O RT H DAKO TA 1-800-342-4848 Northwestern Banker, May, 1984 Deregulation wont go away! D eregulation is h ere to stay. T he qu estio n is. are you? M ergers, acquisitions, regional netw orks, “n o n -b a n k ” banks. Today’s fierce com petition brought on by deregulation is just a taste of w h a t’s to com e. A leading co n su ltan t estim ates th at th e n u m b e r of U.S. b a n k s will decline from 15,000 to 9,600 w ithin this decade alone. You need foresight to survive. O ne strategy for success is a fran chise from First Interstate Bancorp. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis F ran ch isin g: W hen you adopt th e First Interstate B ank identity, you take advantage of the resources of the seventh largest b an k in g organiza tion in th e natio n w ith assets of over $44 billion. Together w ith our franchisees, we have over 1,000 offices covering fourteen states and th at m akes us the largest retail b a n k ing system in the country. Yet w ith all of this, you still retain com plete ownership, indepen dence and local control of your bank. It all adds up to o n e fact: you will be able to com pete success fully in th e financial services m ar ketplace of tod ay ...an d to m o rro v ^ j F ran ch isin g: a key to rem ain in g com petitive. First Interstate is a recognized^ leader in developing b an k in g ser vices an d delivery system s: Such as on line b ran ch su p p o rt system s, h o m e banking, debit a n d credit • card products, ATM netw orks, point of sale, an d m uch m ore. A nd I Bankers who think it w ill/w ill. all are available to franchisees. Most im portant, th ey ’re available w ith o u t th e h uge research and ffev elo p m en t costs often associated w ith th e introduction of new technologies. f r a n c h is in g: th e proven a lte rn a tiv e . We have proven o u r strength in th e m arketplace. Just a few exam p le s: after o u r ow n n a m e change in 1981, new acco u n t activity and Digitized m arketfor shFRASER a re th ro u g h o u t o u r sys https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tem increased dram atically. T he First Interstate franchise in A laska m ore th a n doubled its new account activity in the first two m o n th s after n a m e change. W ithin a three m o n th period, o u r Hawaii franchise increased ATM transaction volum e by 137%. A com m unity b a n k in G olden, Colorado is benefiting from m ulti-m illion dollar First Interstate national advertising. Find out m ore about th e franchise alternative by calling John Dean, President, First Interstate System , Inc. (213) 614-3043. B ecause w hat you d o n ’t know about franchising could cost you your bank. r a s t Interstate Bancorp 42 Minnesota News Aberdeen, N.A.; Peter Cappa, Norwest Bank Black Hills, N.A., Rapid City, and Jeffrey G. Platek, Norwest Bank Sioux Falls, N.A. In Wisconsin: Kevin W. Sayre, Norwest Bank LaCrosse, N.A. * * * Sharon G. Enger has been elected an executive and professional bank ing officer of First Bank Robbinsdale. Ms. Enger be gan her career in 1979 as branch m a n ag e r for Capital Savings and Loan in Lac ey, Wash. Prior to joining First S.G. ENGER Bank Robbinsdale, Ms. Enger was a free-lance market researcher for PSI Mobile Products in Detroit, Mich. * * * Walter C. Parkins has been ap pointed vice president of public fi nance of the investment banking firm of Dougherty, Dawkins, Strand & Yost, Inc. of Minneapolis. Mr. Parkins formerly was a part ner in the law firm of O’Connor & Hannan in Minneapolis and headed that firm’s municipal bond law prac tice. * * * Marquette Bank of Columbia Heights has announced the promo tion of M.L. Grotewold to president. Mr. Grotewold, previously execu tive vice president and CEO, joined the bank in 1973. * * to 25 Minnesota organizations, with grants ranging from $2,000 to $20,000 being made to an additional 18 organizations. Grants totaling more than $75,000 were made to 29 organizations in Montana, North Dakota, South Da kota and Wisconsin. The First Bank System Founda tion was established in 1976 to com plement the ongoing financial servi ces provided by First Bank System and its 85 affiliated banks and trust companies. Foundation funds are granted to a variety of nonprofit or ganizations, with primary emphases in the areas of social welfare, educa tion and the performing arts. Limi ted financial support also is given to preservation and conservation ac tivities and regional health pro grams. Little Falls Addition Told Timothy J. Byrnes has joined First National Bank, Little Falls, as cashier, respon sible for bank operations and personnel. Mr. B yrnes comes to First National from a similar position at Union State Bank, Winterset, Iowa. He is T.J. BYRNES a graduate of Upper Iowa University, with a BA degree in business administration. He has also been involved in many American Institute of Banking classes, both as student and instruc tor. Elected in Worthington First Bank System Appoints Eastern Montana Director First Bank Worthington has an nounced the election of Dean Risa as vice president and manager of the agriculture department. Mr. Risa joined the bank in 1975 as a loan officer and a s s is ta n t cashier. In 1979 he went to work ■HPRk /' at PCA until Oc D. RISA tober of 1983 when he rejoined First Bank Worth ington in the agriculture department. William W. Strausburg has been appointed managing director of the eastern Montana banking affiliates of First Bank System, Minneapolis. Previously managing director for southern North Dakota, Mr. Strausburg began his banking career in 1961 at First Bank Billings. He served at First Bank affiliates in Helena and Austin, Minn, and at Marine National Bank in Neenah. In 1980 he was elected group executive for First Bank System’s banking af filiates in southern Minnesota and has been managing director for southern North Dakota since 1982. M BA Sponsors 4-H Youth * Marquette Bank at University re cently announced the promotion of Larry Anderson to president. Mr. Anderson joined the bank in 1977 as executive vice president. Prior to that he served as vice presi dent of Bank Shares Incorporated and as a vice president of retail banking at Marquette National Bank. * * * First Bank System Foundation has aw arded g ra n ts to ta lin g $564,834 to 54 nonprofit organiza tions in Minnesota, Montana, North Dakota, South Dakota and Wiscon sin. A sum of $489,500 was awarded Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A DELEGATION of 4-H youth from Minnesota, sponsored by the Minnesota Bankers Association, recently traveled to the 1984 National 4-H Conference in Washington D.C. April 7-13. According to Thomas Olson, pres., First National Bank, Starbuck, and chairman of the MBA 4-H campaign committee, 117 banks contributed a total of $7,520 to 4-H youth development programs this year. Delegates pictured above with MBA Administrative Vice President Wayne Berthiaume (far right) are (I to r): Jennifer Hippie, Ortonville; Mike Visnovec, Elko; Stuart Lyle, Oakland; Christine Panning, Marshall; Ingrid Levik, Truman, and Pam Restad, Hibbing. # • ® ® Minnesota News • MBA Sponsors Ag Workshop • By STEVE BURCH Associate Publisher F INANCIAL Statement Analysis was the focus of the agricultural workshops sponsored last month by the Minnesota Bankers Association. €> Conducted by Iowa State Universi ty Economics Professor Michael Boehlje, the one-day sessions were held in Detroit Lakes, St. Cloud and Mankato. • Mr. Boehlje began by challenging the ag lenders to be the leaders in ad vising ranchers and producers to broaden their scopes on the issues and events which affect the ag econ® omy. “Many farmers read each and every farm journal published from cover to cover, yet pay no attention to what is going on ‘out there/ We need to talk to these producers ® about reading Business Week, For tune 500 and Forbes to get a better picture of the international forces af fecting the ag economy." He placed a great deal of emphasis on the Do® mestic Content Bill currently being considered in Washington and sug gested that this bill could have a much greater impact on farm in^ comes than the 1985 Farm Bill. In examining the prospects for w economic recovery within the ag sec tor, Mr. Boehlje noted that the cur rent 3% growth in consumer disposq able income will be short lived, fall ing to 1.5% following the November elections. This along with expected increases in the prime lending rates and a continued high unemployment ^ rate combine to soften the demand for red meat products. He reminded the lenders that the expected decline in demand for red meats triggers a trickle down effect on demand for ^ feed grains as well. The supply side isn’t much brighter. He warns that there is far too much plant capacity in nearly every phase of agricultural production. Also, he does not expect 9 any supply related bail-outs that have sparked past recoveries. He summarized that the anticipated slow down in demand and continued over production pave a road for • recovery in the ag economy that will be slow and painful. “Attitudes toward agriculture are changing and the solutions of the past which focused solely on improv• ing farm incomes simply won’t work in today’s environment,” suggests https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mr. Boehlje. He went on to outline eight characteristics which he sug gests will shape the “New Environ ment of Agriculture.” 1) Farm in comes in the 1980s will be lower. This reflects a change in the earlier attitude that everybody who farms should be guaranteed a profit. 2) Higher debt loads are expected. This will require greater monitoring of debt to income ratios on the part of lenders. 3) There will be shorter ma turities on debt. He advised lenders to discontinue the use of “roll-overs” and to explain exactly what perfor mance is expected on each capital purchase. He also suggests that MBA Agricultural and Rural Development Committee Chairman Phil Lee, v.p., Valley Natl. Bk., Le Sueur, visits with Mike Boehlje, prof, of econ., Iowa State Univ. lenders may wish to re-examine fixed rate pricing. 4) The new Environ ment will feature less asset liquidi ty. Safety valve liquidity on the farm has fallen from 27% of assets in 1950 to 11% in 1980. 5) There will be increased income and collateral risk. This is a reflection of the gov ernments shift in attitude towards risk management. Payment In Kind, crop insurance and futures and op tions markets are recent examples of how risk managment continues to shift from the government to the producer. 6) Interest rates will con tinue to be high and volatile. 7) Refinancing will be more difficult. This is another reflection of the de cline in liquid assets. 8) The changes in asset liquidity will also be re flected in restructured balance sheets. In addressing the applications of financial statements in ag lending, Mr. Boehlje cautions that often pri mary concerns in determining the credit worthiness of a customer re 43 ceive too little attention while ex cess time is spent on the legal docu mentation of obtaining collateral. Additionally, all ag lenders should require income statements from their customers. This debt to income ratio will indicate where the capital will come from to repay the debt. Along this line, he advises that the lenders should not prepare balance sheets. “Too much of your time is spent in financial statement prepa ration, leaving little time for analy sis to determine credit worthiness and debt load capacity. You need to convince the customer that it is in his best interest to provide you with the necessary statem ents.” He shared the example of a banker who sponsors a seminar for farm bor rowers each year where he shows the producers how to prepare and main tain balance sheets, income state ments, written marketing strategies and cash flow statements. Before turning to a workshop an alysis of financial statement prepa ration, Mr. Boehlje urged the lend ers to consider the borrower’s men tal capacity to deal with the stress present in agricultural today. He exampled a recent incident involving a livestock producer who left his cat tle unattended during a period of depression allegedly caused when he was unable to obtain further credit from his local lender. □ Mankato Elections Told Starr J. Kirklin, president of First Bank Mankato, has announced the election of Robert M. Stowell, assis tant vice president in commercial lending, and Gerald A. Brossart, ag riculture loan officer. R.M. STOWELL G.A. BROSSART Mr. Stowell most recently served as commercial loan officer of the United National Bank of Sioux Falls, S.D. Mr. Brossart joined the bank in 1982, serving as credit review anal yst and agriculture loan repre sentative. Northwestern Banker, May, 1984 44 Minnesota News Mill!! LEFT— Panel members for the NABW Minnesota Conference included (I to r): Nan Skelton, Barbara Cox, Nancy Nemitz, Kathy Scanlon # and Marilyn Carlson Nelson. RIGHT—Posing with Conference Chairman Margie Denton (second from right), a.v.p., Signal Hills Bk., West St. Paul, are Conference Vice Chairman Joan Peper, cust. dev. off., Liberty State Bank, St. Paul; Barb Pfeffer, accnt. mgr., Federal Reserve Bank, and 1983 Conference Chairman Ethel Herrick, a.v.p., Marquette Bank & Trust of Rochester. NABW Conf. Draws Record Crowd ORE THAN 200 women in fi nance attended the Third An nual State Conference of the Na tional Association of Bank Women held in April in Bloomington. Highlighting the list of speakers were Sheila L. Murray, owner and president of Getting Control, Inc. a San Francisco marketing and train ing corporation, and a panel led by Nancy Nemitz, vice president, First Bank System, and consisting of Bar bara J. Cox, vice president of mar keting for the Federal Reserve Bank of Minneapolis; Marilyn Carlson Nelson, owner of Citizen’s State Bank of Waterville; Nan Skelton, as sistant commissioner, Minnesota Department of Education, and Kathy Scanlon, vice president of First Bank Minneapolis trust de partment. Other featured speakers included: Gilbert A. Liverman, CIS A second vice president, Fidelity Union Bancorporation, Newark, New Jersey; Jane A. Trimble, R.N., M.S., dis cussing PMS; Nadine Frakes, NABW North Central regional di rector; Susan McIntosh, director of marketing, First Bank St. Paul; Karen Coldiron, vice president ac counting, Irwin Union Bank and Trust, Columbus, Ind.; Carol L. Swiger, president of Swiger Consult ing Group, Inc., McLean, Virginia, and David McNally, president of Trans Form Corporation. First Bank Minneapolis To Distribute MicroCTS C. Driver, product management rep resentative. “Using MicroCTS, a cash manager can have access to consolidated balance reports within minutes of arriving in the office, thus enabling him or her to make in vestment decisions when rates are most favorable.” Priced at $5,995, the MicroCTS system consists of 11 integrated in formation reporting modules that can be tailored to a company’s indi vidual requirements. These modules deal with daily banking, invest ments, loans, revolving credits, cal endars, cash worksheets, relation ship management and communica tions. In addition, new modules are reg ularly added to the system to ex pand the scope of treasury automa tion as customer needs change. Other benefits include: • Non-Proprietary Communica M First Bank Minneapolis has negotiated on agreement to become the only financial institution in Min nesota, Montana, North Dakota and South Dakota to distribute Micro CTS (Microcomputer Corporate Treasury System) software. This treasury management soft ware system was developed by Capi tal Systems Group, an authorized value-added dealer for IBM Per sonal Computer products, and is specifically designed for use on the IBM PC or XT microcomputers. “Unlike the relatively expensive hardware and software treasury management systems we’ve ex amined, MicroCTS is an affordable, software-only system that delivers the features we believe middle-mar ket customers want,’’ says Fredric Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tions —MicroCTS is compatible with most balance reporting systems and can capture data in either report or data formats. • Single Data Entry —Once a transaction, balance or other finan cial data is entered, it can be used throughout the system, so data need never be entered more than once. • Flexible Reporting —Reports can be displayed in various formats in either tabular form or color graphics, and can be produced on both the screen and the printer. Purchase of MicroCTS through First Bank Minneapolis includes setup, full documentation and total system support. Maintenance con tracts are available at a cost of $50 per month. Further information about the MicroCTS Corporate Treasury System may be obtained by calling the First Bank Minnea polis Corporate Cash Management Department at (612) 370-4983. ® ® ^ ^ ^ Acquisition Approved The Federal Reserve Bank of Min neapolis has approved the applica tion of The Merchants Holding Com pany, Winona, to become a bank holding company through the acqui sition of The Merchants National Bank, Winona. Named in Richfield Richard Eichhorn has been named to the board of the Richfield Bank & # Trust Co. Mr. Eichhorn, founder of CPT, the Eden Prairie based work proces sing company, retired in 1981 and now acts as a business advisor and • private investor. 45 of First Bank of South Dakota in 1981. Mr. Cherrie joined the bank’s trust department in 1983 and pre viously was with Piper, Jaffrey and Hopwood in Duluth. Mr. Rampelberg started his ca reer with First Bank System in 1966 and rejoined it at First Bank Rapid City in 1982 after a two year ab sence while employed as the busi ness manager for the Western Mon tana Clinic. Mr. Gaddie started his Two Join Sioux Falls Staff and Jim Merchen was elected instal career with First Bank in 1971 at the bank in Grand Forks, N.D. In Erling Haugo, chief executive of ment loan officer, also in Rapid City. 1979 he transferred to Rapid City as At First Bank Madison, Richard f i c e r of The Valley National Bank vice president and timepay mana Sioux Falls, has announced the addi Palmatier was promoted to assis ger. Mr. Burchill has been in Rapid tion of Tim Loftesness and Bob tant vice president. At First Bank Sturgis, John John City since 1977, when he joined the Thoen to the bank’s staff. son was promoted to senior vice bank as a management associate. Mr. Kintner has been with the bank president. Mr. Schock joined the main office since 1982. Mr. Merchen joins the bank from Associates Financial Ser vices in Marshall, Minn., where he has been the past two and-a-half years. Mr. Palmatier joined First Bank Madison in 1980 as an ag loan repre sentative. Mr. Johnson joined First Bank T. LOFTESNESS B. THOEN Lemmon in 1972 and transferred to Sturgis in 1977. In 1982 he was ^ Mr. Loftesness will be serving in named vice president. the operation’s department and Mr. P. SCHOCK S. CHERRIER Thoen the loan department. Both are employed at the Main Office ^B ranch of the Valley Bank. Buffalo Bank Expands The First State Bank, Buffalo, recently completed an extensive ad dition to its facilities, with a grand opening scheduled for April 18. During the renovation phase, the bank added approximately 2,200 square feet on two levels bringing the total building square footage to 10,000. The lower level is leased for professional offices and houses the internal data processing center for the bank. First State Bank was founded in 1913. Canton Election Announced John M. Ripley has been elected ♦assistant vice president at the main bank office of First American Bank, Canton. Mr. Ripley joined the bank’s staff March 5 and most recently was a se n i o r bank examiner with the State Division of Banking and Finance. First Bank of South Dakota •Advancements Announced The board of directors of First Bank of South Dakota, Sioux Falls, recently announced the following ad v an cem en ts and elections: At First Bank of South Dakota, Sioux Falls main office, Paul Schock has been promoted to assistant vice president and Steve Cherrier has ^been elected trust investment officer. At First Bank Rapid City, Bruce Rampelberg and David Gaddie have been promoted to senior vice presi dent status, and Patrick Burchill to ♦vice president. Timothy Kintner was also elected commercial loan officer https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Huron Employee Honored J. MERCHEN R. PALMATIER Elinor Schwartz, real estate loan representative at the Farmers & Merchants Bank, Huron, was hon ored recently for her silver anniver sary of employment with the bank. She began at F&M in 1959 and during her tenure with the bank has served as remittance clerk, bond teller and safe deposit box atten dant, secretary and real estate repre sentative. Northwestern Banker, May, 1984 46 Minot Promotions Told Promoted in Grand Forks The board of directors of First Bank Minot has elected James R. Winter as senior vice president - se cond officer and has announced the following officer promotions: Ed ward Everts, vice president, opera tions officer and cashier; Michael Wold, agricultural loan officer, and Steven Hartmann, commercial loan officer. Mr. Winter began his banking ca reer in 1961 as a commercial lender at First Bank - Grand Forks. He has held his most recent position as vice president - second officer for First Bank - Valley City since 1979. Mr. Everts began his banking ca reer in 1977 as a management asso ciate at First Bank, Cloquet, Minn. He joined First Bank Minot in 1978 as personnel and assistant opera tions officer and has held his most recent position as assistant vice president, operations officer and cashier since 1983. Mr. Wold has been working in the agri-business field for the past nine years and joined First Bank Minot in 1983 as an agricultural loan repre sentative. Mr. Hartmann has been involved with banking since 1976 as a certi fied public accountant in St. Paul, performing bank and commercial audits, and also with First Bank Bismarck as an installment, loan re view, and compliance officer. He joined First Bank Minot in 1983 as financial analyst. Community National Bank of Grand Forks has announced the pro motion of John O u ra d n ik to cashier and as sistant vice pres ident. His re s p o n s ib ilitie s will include mon itoring the inter nal operations of the bank. Mr. Ouradnik joined the bank in 1977 after graduation from Mayville State College. Mandan Promotion Told Bernard A. Meier has been pro moted to vice president of the com mercial loan department of Norwest Bank Mandan, N.A. Mr. Meier has been with the bank since 1982 in the commercial loan department. He is a 1974 graduate of the University of North Dakota with a degree in business adminis tration. Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Minot Director Elected Bruce C. Adams has been elected a director at Norwest Bank Minot, N.A., ac cording to John W. P ie rso n , president. Mr. Adams is a partner in Tri ple Adams Farms located in Bot tineau and Ren B.C. ADAMS ville counties, and also has farming interests in Mountrail county. Fargo Officer Named southern North Dakota banking af-# filiates fo First Bank System, Min neapolis. Previously senior vice president of marketing and operations for First Bank Systems regional divi® sion. Mr. Mengedoth also was asso ciated with First Bank in Milwau kee, Wis. as senior vice president, cashier and manager of the consu mer banking division. He was nam-® ed vice president of operations for First Bank System in 1979 and held his most recent position since 1982. Jim Dawson Selected As Head of Crop Hail Assn. ^ James Dawson, president of Dawson Hail Insurance Co. was elected president of the Crop Hail Insurance A s sociation at its annual meeting in Las Vegas. The Chicago As sociation is a statistical rating and filing orga nization repre J. DAWSON s e n tin g m ore than 100 companies writing over $400,000,000 in crop insurance pre miums throughout the United States. ^ Mr. Dawson was also elected to a fourth term on the board of the In ternational Association of Hail In surers at the Hail Congress in Sor rento, Italy. Headquartered in Zur-< ich, Switzerland, the organization represents 116 crop insurance com panies from 23 nations. Mr. Dawson is the only American to serve on the International Board. ^ Fargo has been selected by the In ternational Association for a work shop seminar in June. Mr. Dawson expects 35 participants from 12 countries. < The Dawson firm was a pioneer in the field of crop insurance 67 years ago. The company currently writes in five states through 575 indepen dent agents. ( Allen M. Jensen has been named commercial loan officer at First Bank - Fargo. Mr. Jensen began his banking ca reer at Norwest Bank in Moorhead, Minn., and is a 1980 graduate of First Bank System Links Moorhead State University. Most recently, he has served as a commer With Foreign Trade Firm First Bank System, Inc., Min cial banking officer in Hastings, neapolis is establishing a relation Minn. ship with the East Asiatic Company Ltd. of Copenhagen, one of the Southern North Dakota world’s major companies engaged in Director Appointed foreign trade, to help small and Donald R. Mengedoth has been medium-sized companies sell their appointed managing director for products overseas. 47 sponsorship of a loan documentation workshop including analysis of Ar ticle 9 of the Uniform Commercial Code. The workshop is scheduled for Tuesday, June 5, at the Colonial Inn in Helena. Registration fee is $90 for members and $180 for non-members and includes lunch, breaks and an extensive workshop manual. Presenting the workshop is John Moye, partner in the Denver, Colo rado law firm of Head, Moye, Giles MBA Trust Conference — May 24-25 & O’Keefe. Designed for all bank personnel ty —Dave Haft, vice presi involved in documentating loans, T R U S T OFFICERS throughout dent and trust officer, Secur this year’s program promises to be ® I the state are urged to attend the ity Bank, Billings. Montana Bankers Association 1984 extremely worthwhile and educa 9:15 TEFRA—Don LaBar, attor tional. Trust Conference May 24-25 at the ney, Church Harris Johnson Heritage Inn in Great Falls. & Williams. As can be seen from the agenda “Tully” Vashus Retires * th a t follows, this year’s conference 10:00 Coffee and Coke break. should offer an excellent opportuni 10:15 Panel - Trust Industry in After 37 Years in Banking Transaction— ty for trust officers to upgrade their T.A. “Tully” Vashus, well-known • Moderator Dave Servies, Montana banker, retired May 1 as skills and expand their knowledge. president of First Trust, Bil president of First Thursday, May 24 P.M. lings. 12:30 Registration. National Bank of • Competition Bob Nelson, Glendive. 1:00 General session opens. president, Norwest Capital Presidential welcome and re Mr. Vashus, Management, Billings. marks—Donald L. Knutson, who has served • Discount Brokerage - Roy as president in vice president, trust corpo al Johnson, First Trust, Bil G len d iv e ration of Montana. 28 lings. MBA report and welcome— years, has spent • Incentive Compensation all of his 37-year Robert Sizemore, MBA -Ward Schamburg, Security career at First president and president of U H Bank, Billings. Western Bank of Chinook, N a tio n a l. He T.A. VASHUS 11:45 Dismiss. and John Cadby, MBA exec started with the utive vice president. bank in 1947 as a teller and was Trust committee legislative Silver Run Bancorporation named president in 1956. report—Tom Ellis, vice pres Purchases Red Lodge Bank Mr. Vashus served as president of ident, Norwest Capital Man the Montana Bankers Association A group of individuals consisting agement, Great Falls. of R.L. Smith, Jack H. Foster, Dr. in 1974-75. As MBA secretary in 1:45 B uild M o n tan a —R obert James Kane, John T. Prather and 1973, he, Dub Paige and Roger Ul Pancich, consultant, Build James H. Burnett have formed Sil rich hired John Cadby as the asso Montana. ver Run Bancorporation, Inc. and ciation’s first full-time professional ® 2:30 Coffee and Coke break. have purchased approximately 81% manager. 3:00 State Investments—Joseph of the United States National Bank As MBA president, he established Reber, chairman of State of of Red Lodge. the first tax task force to address Montana Investment Com Mr. Smith has been elected presi the problem of the bank shares tax, mittee. dent of the Bancorporation. He cur and he also created the commercial • 3:30 The Economy & The Mar rently is president and chairman of lending committee. kets: Short & Long Term— the United States National Bank. He presently serves as a member Thomas Madden, senior vice Mr. Foster has been appointed to of the past presidents committee president Federated Inves fill the unexpired term of Ralph which plans the bank presidents tors Service. Heare as director. Mr. Foster is also conference. He also just concluded • 4:00 Break. the vice president and cashier of the his service on the Historical Preser 5:30 Cocktail party sponsored by bank. vation Task Force as its first chair Federated Investors Ser The other members of the group man. vice. Perhaps the best proof of Mr. are also directors of the bank. 6:30 Dinner and election of offi Vashus’ leadership ability is the fact cers. that five of the people he has hired MBA ■AIB Education and trained have gone on to become A.M. Friday, May 25 Committee Sponsor Workshop bank presidents themselves. 8:00 Coffee and rolls. Mr. Vashus and his wife, Flo, will The Montana Bankers Associa 8:30 Selecting a New Computer System and Converting tion American Institute of Banking continue to make their home in While Retaining Your Sani Education Committee has announced Glendive. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 48 Gretchen Tea New Manager Of Wyoming Bankers Assn. Gretchen Tea, long-time Helena, Mont., resident, has been selected the executive vice president of th e W yom ing Bankers Associ ation, effective July 1, 1984. Ms. Tea cur rently serves the Montana Bank ers Association as adm inistra tive manager and director of education. She joined the MBA in 1978. She has also worked for the Helena Downtown Associa tion and First Bank Helena. As executive vice president of the Wyoming Bankers Association, Ms. Tea will manage a 100-plus member trade organization for commercial banks. She will establish the associ ation’s office in Casper, Wyo. Ms. Tea is active in the Montana Society of Association Executives and the National Association of Bank Women. She has also been as sociated with the American Society of Association Executives, Montana Business Week and the Montana Council on Economic Education. Ms. Tea will take over the duties of executive vice president from M. Clare Mundell, who held that post with the Wyoming Bankers Associa tion since 1972. Mr. Mundell is a CPA and had retired as dean of the College of Business Administration at the University of Wyoming in Laramie when he accepted the bank association post. He and Mrs. Mun dell will continue to make their home in Laramie. Promoted in Laramie Citizen Bank, Laramie, has an nounced the promotion of Charles H. Preslar to the new position of ex Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Macleod has been designated presi-^ dent. Mr. Ferguson previously served on the board of Equality State Bank, Cheyenne. Other organizers who will serve on the board include: Dr. William Pickering, J. Michael^ Doherty, William C. Allen, Duane VonKrosigk, Warren Slagle and Dr. Harold Bass. All are past presidents or board members of other banks. Wayne Ebel served as agent for the^ organizers. Western State Bank will employ ecutive vice president and of Barba six people. ra J. DuBard to vice president and cashier. Mr. Preslar started his banking career at First National Bank in Wichita Falls, Texas. He worked at Rock Springs Bank various banks and savings and loans Appoints New President until joining Citizen Bank in Lara John H. Martin has been appointed# mie in 1983. He has served as vice president and chief executive officer president in loans since that time. of First Wyoming Bank, N.A. - Rock Ms. DuBard started with the Springs, according to Peter Vase, bank when it first opened in Laramie chairman. and most recently was cashier. Mr. Martin most recently served# as senior vice president of the First Wyoming Bank, N.A. - Kemmerer. Lander Executive Appointed He has also served at First Wyom ing Banks in Hanna and Rawlins. Charles Krebs has been appointed executive vice president of First Wyoming Bank, N.A. - Lander, T.G. Mudge Joins Graduate a cc o rd in g to School of Banking Staff ^ Ralph D. Wil liams, chairman, Thomas G. Mudge, 35, has joined p re sid en t and the Graduate School of Banking’s CEO. Herbert V. Prochnow Educational M r. K reb s Foundation as director - external pro m ost recently grams, Richard I. Doolittle, executive# served as presi vice president, announced today. dent and CEO of Mr. Mudge has served as program C.H. KREBS F irst National director, executive education, and Bank of Yuma, Colo. He has also administrative director of the Gradu served as vice president of Central ate School of Bank Management and® Bank for Cooperatives, which is lo Public Finance Institute at the Uni cated in Colorado, and as vice presi versity of Michigan’s Graduate dent of First National Bank in Den School of Business Administration. ver. As director - external programs,£ Mudge’s primary and immediate re sponsibility will be to facilitate and Western State Bank coordinate implementation of stateTo Open in Cheyenne level banking schools in the central The proposed Western State states. This is to be done in coopera-^ Bank of Cheyenne received the go tion with the American Bankers As ahead for a state charter from the sociation’s Education Policy and De FDIC and other regulatory officials velopment Group within the frame in March and was expected to open work of its Professional Development sometime in April. A modular build Program for bankers. Other responsi-0 ing will be set up at 1525 Pershing bilities will include research and devel Blvd. to house the bank, which opment of educational programs, ma hopes to move into a permanent terials and services designed to en structure by 1986. hance the School’s ability to better Francis Ferguson serves as chair serve the commercial banking com-# man of the new bank and John C. munity. 49 N.M. DEAN C. KERN President Vice Pres. 83rd Annual Colorado Bankers Association Convention June 7-9 Broadmoor Hotel Colorado Springs T HE BROADMOOR Hotel in Colorado Springs will once again be the headquarters for the 83rd Annual Colorado Bankers Association Convention June 7-9. Theme for the convention is “CBA ‘84: Opportunities for Excellence.” A wide array of activities has been planned includ ing golf, tennis, skeet and trap shooting, aerobics and a fun run. Two special tours have been planned to the North American Air Defense and Colorado Springs Olympic Center. A real western barn-raisin’ good time is planned for the first evening complete with a steakfry and country music. Friday evening’s dinner will be followed by a Mardi Gras, with a King and Queen of Mardi Gras, and music by the Queen City Jazz Band and the Great Broadmoor Dance Band. President Norman M. Dean, chairman and president, United Bank of Greeley will preside at the convention. He has been assisted this past year by Vice President Conrad Kern, president of Omnibank Corporation, Denver, and Executive Manager Don A. Childears. P.M. Wednesday, June 6 8:00 Special early registration, lobby of Colorado Hall. A.M. Thursday, June 7 8:00 Registration, lobby of Colorado Hall. Continental breakfast. 7:00 Fun Run - 2lA miles, Cheyenne Canyon area. Starts and ends at Broadmoor West. 7:30 Men’s Mixer Golf Tournament, Broadmoor Golf Club. 8:00 Men’s and Women’s Doubles Tennis Tourna ments, Broadmoor Tennis Courts. 9:00 Skeet and Trap Shooting, Broadmoor Shooting Grounds. 9:30 Fitness and Aerobics, Broadmoor Main Ball room. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis D.A. CHILDEARS Exec. Manager 11:00 Women’s Mixer Golf Tournament, Broadmoor Golf Club. P.M. Tours-North American Air Defense and Colo rado Springs Olympic Center, (times to be an nounced) 3:30 Kegger, exhibit area, Colorado Hall. Music by Tom O’Boyle. 6:00 Western Steak Fry, transportation provided to Rohen Log Hollow. Music by Timothy P. and the Rural Route 3, and George Duncan and the Moonlighters. Friday, June 8 A.M. 8:30 Registration desk and exhibits open. 9:00 Business session, Colorado Hall. • Address - CBA President Norman M. Dean, chairman and CEO of United Bank of Greeley. • C. Robert Brenton, President of the Ameri can Bankers Association and president of Brenton Banks, Inc, Des Moines, Iowa. • Peter Grant, Colorado’s ABA Representa tive and president of Colorado National Bank of Denver. Election and installation of officers. • “Pricing of Bank Services”—Dr. William Wilsted, professor, Colorado University and director of the Colorado Graduate School of Banking. • “The Economics of Reality” — Dr. Barry Asmus, economist, Boise State University. P.M. 12:45 Luncheon, Broadmoor International Center. Luncheon speaker promises to be outstanding. 6:00 Cocktails, Broadmoor Main. 7:00 Dinner, Broadmoor, Main Dining Room, Broad moor Main Ballroom, Broadmoor Golf Club. Following dinner will be a Madri Gras at the In ternational Center. Entertainment by Queen City Jazz Bank and Great Broadmoor Dance Band. Saturday, June 9 A.M. 8:30 Registration desk and exhibits open until 11:00 a.m. 9:00 Business Session. • Colorado Senator, William Armstrong. • Meg Egginton, deputy chairman, FDIC. • A panel of bankers will discuss current bank ing structural issues. □ 12:00 Adjourn. Northwestern Banker, May, 1984 Colorado News You Will See Them At the 83rd Annual Colorado Bankers Convention June 7-9 T HE following m etropolitan bankers and service and equip ment dealers have indicated they will be attending the 83rd annual convention of the Colorado Bankers Association in Colorado Springs, June 7-9. Denver Central Bank: Don Hoffman, chairman; Joe Lincoln, president; Jim Osbourn, Jim Nelson and George Patterson, executive vice presidents; Don Echterm eyer, senior vice president; Bill Tumelty, vice president; Rick McElroy and Phil R andell, a s s is ta n t vice presidents, and Eric Anderssen, cor respondent bank officer. Colorado National Bank: Bruce M. Rockwell, chairman; W.W. (Peter) Grant, president; Robert L. Kropf, senior vice president; William W. MacMillan, David W. Fowler, Char les W. Kirk and Larry G. Matthes, vice presidents; Ursula M. James, Kirk R. Hoffman, Celeste E. McLane and Gerre A. Leyden, assistant vice presidents. for s Denver National Bank: Steve Sheridan, vice president; John Bol ognini and Pat Reed, correspondent banking officers. First Interstate Bank of Denver: Bob Lee, chairman; John Eggemeyer, III, president; Bob Borgman, senior vice president; Marilee Utter and Bob Swartz, vice presidents. United Bank of Denver: Robert H. Dressel, senior vice president; Darcy L. Myers and Janice L. Campbell, vice presidents; Ronald D. Edwards and Steven K. Colliatie, assistant vice presidents; Pat Van Hooser, commercial banking officer. Kansas City United Missouri Bank: J. Lyle Wells, Jr., vice chairman; Richard C. King, president; Phillip D. Straight, executive vice president; Richard H. Muir and Steve Panknin, vice presi dents; Melissa Smith, bond invest ment officer. Lincoln First National Bank: Steve An derson, vice president. New York Chemical Bank: John Robb, vice ® president and M. Perry Bristoll, as sistant vice president. The Chase Manhattan Bank: Wil liam P. Morris, second vice presi dent. ® Omaha Omaha National Bank: Daniel F. Boehle and James L. Allen, vice presidents; Mike Baker, Tom Ryan. ^ Bank Equipment and Other Firms Bank Building Corporation, St. Louis, MO: R.A. Owens, regional sales manager. Kirchner, Moore & Company, # Denver: John Schabacker, senior vice president. Lincoln Benefit Life Co., Lincoln: Steve Sutton, vice president. Mosler Safe Company, Hamilton,# Ohio: Jack Dark, sales representa tive and Dave Donaldson, area man ager. Fort Collins Names Director # David L. Parker, president of the Galyardt & Harvey Agency, has been elected to the board of direc tors of Colorado National Bank in Fort Collins. That's why the correspondent bankers at Central Bank of Denver undergo extensive training in all areas of banking. w ; M; failli M - m. ■-;i ^ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ' .. ■: . . ■ !: ' ■ Colorado News »Promoted in Grand Junction Nadine Clark has been promoted to administrative assistant and sec retary to the board of Colorado Na tional Bank - Orchard Mesa, Grand >Junction, according to William T. Sisson, president. Ms. Clark has 19 years banking experience and previously was with First Interstate Bank of Denver. > First Interstate Bank Promotions Announced First Interstate Bank of Denver 'has announced the promotion of Donn L. Waage, Robert M. Borgman and John L. Gray to senior vice presidents and Matthew P. Wagner to vice president. ' Mr. Waage joined the bank in August of last year as vice president of external relations. He joined First Interstate from Samuel Chase and .Co., where he was a vice president and counsel. Prior to that he was ex ecutive director of the Colorado As sociation of Bank Holding Compa nies for 16 months. » Also named manager of corporate banking, Mr. Borgman joined the drew R. Downs and Marlene K. McDaniel were named officers. Mr. Buchanan joined United Bank of Denver in 1983 and is on staff in the bank’s national accounts/cash management area. A commercial banker in real es tate, Mr. Gardiner joined the bank in 1981. Mr. Sheehan, also a commercial banker in real estate, joined in 1980. Ms. Sinclaire is a commercial banker in the metropolitan banking group. She came to the bank in 1978. bank in 1979 in accounts receivable. He was named vice president in 1980. Mr. Gray joined in 1981 as vice president of property banking. He previously was with Western Fed eral Savings and Loan. Mr. Wagner will serve as vice president of the mid-market division of corporate banking. He joined in 1981 as a commercial loan officer. Also announced was the election of John T. Casey and John V. Saeman as directors. Mr. Casey is president and CEO of P/SL Healthcare Corporation of Elected in Aurora Denver. Mr. Saeman is vice chair Ronald J. Garofalo has been man and CEO of Daniels and Asso ciates, Inc., a cable communications elected to the board of Colorado Na tional Bank - Aurora. firm. Mr. Garofalo is vice president and regional manager of the Siteman Or Six Promoted At ganization. United Bank of Denver United Bank of Denver’s Chair man and Chief Executive Officer Richard A. Kirk recently announced that Thomas E. Buchanan III was promoted to vice president; Frank J. Gardiner, Daniel V. Sheehan and Catherine S. Sinclaire were named assistant vice presidents, and An So, whether you call for help to buy a bank, how to better manage your liquidity, learn about ATMs or need assistance with a large borrowing customer, you'll find that your Better Banker has the answers. Joins Littleton Bank Michael T. Price has joined Colo rado National Bank - Arapahoe, Lit tleton, as assistant vice president of construction lending. Mr. Price formerly was associated with Midland Federal Savings. I'm Don Echtermeyer, Senior Vice President of correspondent banking at Central Bank. Wnat I've just told you is based 100% on objective evaluation. And 100% biased pride in the job our people do. We invite you to call. *; : mm J - 1 Central Bank of D enver The Better Bankers. 1515 Arapahoe Street/Denver, CO 80292 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i (303) 893-3456/Member FDIC. >CENTRAL BANCORPORATION. INC 52 Colorado News Pueblo Addition Told Lloyd V. Clemmer, Jr. has joined Affiliated First Colorado Bank of Pueblo, N.A. as vice president and cashier. Mr. Clemmer joins the bank from Affiliated First Colorado Bank and Trust of Denver, where he was vice president and controller. New Presidents Appointed In Durango and Ignacio N. Berne Hart, president and chairman of United Banks of Colora do, Inc., recently announced the ap pointment of Jim Harrison as presi dent of United Bank of Durango and Phyllis Young as president of United Bank of Ignacio. R.W. Tur ner, Jr. will continue his role as United Banks regional executive for both banks. visor, and Lois Brethauer to assis tant cashier. Also promoted were Phillip Chavez to assistant instal ment loan officer and Charles Bunce, Jr. to vice president and cashier. Ms. Spiess joined the bank in 1973 as a teller. Ms. Brethauer has ten years banking experience and previously was with Michigan Na tional Bank. Mr. Chavez joined the bank in 1969. In his new position, Mr. Bunce will serve as senior opera tions officer, security officer and sec retary to the board. Two Elected in Denver Kirk Hoffman and Ursula M. James were recently elected assis tant vice presidents of Colorado Na tional Bank of Denver. Mr. Hoffman joined the bank in 1977, currently serving in the re gional banking department. Ms. James started with the bank in 1977 and serves in the regional de partment. Denver National Appoints Three As Vice Presidents Denver National Bank recently announced the appointment of the following indivi duals to vice J. HARRISON P. YOUNG president posi tions: Richard W. Mr. Harrison has been associated Blackwood, in with United Banks since 1976 and vestments; Dale has served as vice president, cashier, E. Cook, finan senior lender and executive vice cial institutions, president. and Craig L. Mil Ms. Young has been with United ler, commercial Banks since 1964 and has served in loans. the capacity of cashier, vice presi Mr. Blackwood dent and executive vice president. Promoted in Littleton United Bank of SouthPark, Little ton, has announced the promotion of William M. Bashaw to vice presi dent. Mr. Bashaw is vice president in charge of commercial business de velopment. He joined United Bank D.E. COOK C.L. MILLER in 1975 and has experience in com mercial banking and business devel joins Denver National with 28 years opment. of municipal bond experience, most recently with Quinn & Co. brokerage firm. Pueblo Promotions Told Mr. Cook previously was with Colorado National Bank - Pueblo Wells Fargo Ag Credit Corp. in En has announced the recent promo glewood as loan officer handling a tions of Ross Spiess to assistant portfolio of large agricultural loans. Mr. Miller formerly was assistant cashier and account executive super Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis vice president in corporate banking^ at First Interstate Bank of Denver. Merger Would Create 2nd Largest Bank H.C. • A merger agreement was an nounced early in April by Affiliated Bankshares of Colorado, Inc., Boul der, and IntraW est Financial Corp.,# Denver, that would create the se cond largest bank holding company in Colorado, with total assets of $3.5 billion. The new company will be called® First National Bancorp., Inc. and will be headquartered in Denver, with 44 affiliate banks throughout Colorado. Under terms of the agreement, each share of Affiliated common and preferred stock will become one share of First National common and preferred stock. Shareholders of In-# traWest common stock will receive 1.0226 shares of First National com mon stock for each IntraW est share. The agreement also names Robert G. Boucher, chairman of IntraW est,* as chairman of First National Ban corp. Leo Hill, president of Affili ated, will become president and CEO of the new company. Frederic C. Hamilton will be executive commit-* tee chairman. The agreement also specifies that the combined com pany will have 22 directors, 11 to be nominated by the present Affiliated board and 11 by the present In-* traWest board. Englewood V.P. Named • Rick Choffel has been promoted to vice president and cashier of United Bank of Arapahoe, Engle wood. Mr. Choffel, who will be responsi- • ble for all of the operational func tions of the bank, transferred to United Bank of Arapahoe in 1983 from United Bank of Denver. Promoted at Glenwood Dorothy J. Lyons has been pro moted to vice president of Colorado # National Bank—Glenwood, Glen wood Springs. Mrs. Lyons joined the bank in 1974. In her present position she will be assisting in the adm inistra-# tion of the bank’s activities. 53 High-performing banks need a high-performing correspondent. O ur performance has been a matter of record for 122 years. W e’re looking for a select group of banks, with a record of success and profitability, to join our cur rent correspondent banks. Banks that understand superior service, and will accept nothing less from their correspondent bank. If this is your bank, we invite you to join our select group of correspondents who benefit from banking with the Colorado National Bank of Denver. You’ll find that we specialize in providing excellent service, which means efficient, personal attention on everything from check clearing to loan participations and bank acquisition financing. © 1984 Colorado National Bankshares, Inc. W e have been committed to correspondent banking in the Rocky Mountain region for 122 years. Our financial strength, stature in the banking community, and reputation for innovation and dependability are assets that our correspondents appreciate. To put this to work for your bank, call our Correspondent Bank ing Department at 303/893-1862. COLORADO NATIONAL BANK OF DENVER We make big ideas happen. 17th and Champa, Denver, Colorado 80202 303/893-1862 Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 We’ve got the management tools for the right answers... and better profits. One more reason to call on the Correspondent Bankers from NBC. NBC has produced a specialized set o f software m anagem ent tools for use w ith todays m icrocom puters. These packages are designed to serve our client banks and their custom ers in key areas o f risk management. Programs include our A sset Liability M anagem ent Program and an Interest Margin Program. W e’ve developed over a dozen separate packages dealing w ith subjects ranging from a Commercial Business Forecast Model to an Agricultural Cash Flow Program. NBC offers all the traditional correspondent services, o f course, but today the banks w e serve need m ore and so do their customers. Call us at (402) 472-4321. Learn m ore about NBC’s approach to correspondent banking. Specialized m icro com p ute r software for tod ay’s com petitive financial environm ent is one m ore reason our bank clients say “ NBC w orks for me.” NSC T he C o rresp on d en t B a n k in g D iv is io n o f N a tio n a l B an k o f C om m erce N BC Center, 13th & O St., L in co ln , N e b r a s k a 68508, T e le p h o n e (402) 472-4321 / M em ber FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 55 at $14,677,000. Total assets at yearend were noted as $21,129,000. Omaha National is Nebraska’s largest bank with $1 billion in as sets. In addition to its main bank in Omaha, it operates three branches in that city. Mr. Woods said, “There will be no D.G. Johnson, pres., Pilger interruption in service to Blair Bank S. Matzke, Jr., exec, v.p., Lincoln customers. They can rest assured that their deposits are safe and con tinue to carry insurance coverage provided by the FDIC.” He added NBA Announces Nom inees For that Omaha National’s Blair office will offer both consumer and com President-Elect & Executive Council mercial banking services. “We will HE NEBRASKA Bankers As tions could be accepted from the convert all former Blair Bank custo sociation executive council last floor of the convention under the mers to our customer file and offer month submitted the following list regular order for the election of offi them the full range of services pro of names to be voted on at the an cers, which immediately follows the vided to all Omaha Naitonal custo ém iai meeting of the association dur report of the nominating committee. mers,” he said. Blair is the county seat of Wash ing its annual convention that was ington County and has a town popu held May 2-4 at the Lincoln CornOmaha National Takes Over lation of more than 6,000 and a coun husker: ty population of 13,500. One other Blair Bank As An Office For President-Elect: bank is in Blair, Washington County Omaha National Bank on April 23 ® Roger L. Weiss, chairman and Bank. It has deposits of $64,197,000 acquired certain assets and the de president of Commercial National posits of Blair Bank, Inc., in Blair, and assets of $75,277,000. It is Bank, Ainsworth. and began operating the facility the owned by the Lauritzen interests, For Executive Council: Group 1 — Jack Holmquist, presi- following day as a full-service which own a number of banks in Ne branch of Omaha National. John D. braska and western Iowa and one in ®dent of York State Bank. Group 2 — Gary Parker, president Woods, chairman and chief execu South Dakota. The lead bank is tive officer of Omaha National made First National Bank of Omaha. of Bank of Bellevue. Group 3 — G.E. (Gundy) Gunder the announcement. The assets and deposits were ac Proposed Sidney Bank son, president of Commercial State quired under an agreement with Receives Charter Approval *B ank, Wausa. The proposed First National Group 5 — Don Blaha, president Yanney, Hughes & Associates of Omaha and under an order of the Bank of Sidney has received ap of First National Bank, Ord. proval from the Comptroller of the Group 7 — Omaha suburban — Nebraska Banking Act. The action of Banking Director Currency for a national charter. The ^ David Klipsch, chairman and presi^ d e n t of First Westside Bank, Roger Beverage was made possible bank will be located at 841 Illinois through enactment of LB 1026 ear Street in Sidney. Omaha. Group 7 — Omaha correspondent lier this year by the Nebraska legis bank representatives — John Coch- lature, passed basically as a re NIBA Appoints Kurt Yost ^ ra n , president, Norwest Bank sponse to the problems that sur Kurt Yost has joined the Nebras Omaha, and Gary Thrasher, senior faced following closing of the failed vice president of Omaha National Commonwealth Savings Company ka Independent Bankers Association of Lincoln. That new law authorizes as its full-time Bank. Under the by-laws, other nomina the director of banking to negotiate executive direc a takeover of a failing bank so it can tor. He takes be assumed immediately upon deter over these duties At the time this issue was mination of its illiquid position so from James H. going to press, the Nebraska the interests of depositors are pro Moylan of Oma Bankers Association was hold tected. Mr. Beverage said there were ha, who will con ing its Annual Convention at no other problems in the bank than tinue as general the Lincoln Cornhusker. the fact that loans had eroded the counsel and lob A.C. “Skip” Hove, chairman bank’s capital position. byist for the as of Minden Exchange Bank, In its report to the N orthw est sociation. K.T. YOST was scheduled to advance as ern B an k er for the 1984 edition of Mr. Yost is a president of the association, the Nebraska Bank Directory, Blair graduate of Kearney State College succeeding Don G. Johnson, Bank listed its capital as $1,223,000, and previously spent five years in president of Farmers National surplus as $2,151,000, and undi marketing with Nebraska Blue Bank, Pilger. vided profits and reserves as Cross/Blue Shield and over eight Complete convention report ($1,892,000), and capital notes of years as regional manager of Midwith photos will appear in the $200,000. Deposits last year-end America Lumbermens Association, June N o rthw estern B a n k e r . were listed as $18,211,000 and loans a five-state trade organization. T https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 56 Thomas H. Allen, president of Omaha National Bank, announced last month his intention to take early retirement from the bank ef fective April 30, 1984. Mr. Allen, who has served as president of the bank since June, 1978, said that his decision T.H. ALLEN has been several months in the making. “Now is the ideal time for me to pass the baton to our fine young management,” Mr. Allen said. “The bank’s asset condition is excellent, and the earnings momentum is strong.” Mr. Allen does not intend to work elsewhere, but will seek personal in vestment opportunities as they de velop. He has made no firm plans at this time concerning future resi dence. No formal announcement has been made concerning a realignment of the bank’s organization, but Gary Thrasher, senior vice president, will assume a part of Mr. Allen’s respon sibilities. Prior to joining Omaha National, Mr. Allen was executive vice presi dent of the Idaho First National Bank in Boise, Idaho. * * * Two officer promotions were re cently announced at American Na tional Bank. Jean J. Luettel was ad vanced to assistant vice president and personnel officer and Robert C. Krause was named credit officer. Ms. Luettel has been a member of the bank’s staff since it was char tered in 1964 and serves as corpo Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis rate secretary for the bank and for the holding company, American Na tional Corporation. Mr. Krause had been senior credit analyst for the bank since he joined the staff in 1983. He has spent the last 18 years in various financial, re search and marketing posts for Omaha-area firms. * * * J.D. HOBBIE R.W. PATTERSON # M.S. MOYER B.C. NEBERGALL tative and a regional credit trainee for the bank. Mr. Nebergall has worked in the^ financial institutions group since Ju ly of last year. Prior to that he was section manager in the cash manage ment department and encoding man John Cochran, chief executive of ager in the check collecting de-^ ficer of Norwest Bank Omaha, N.A., partment.has announced * * * the promotions of Sandra K. Omaha National Bank will open Ware to vice an Agricultural Lending Office in^ president; Jack G a rd en C ity , D. Hobbie and Kansas, in midRichard W. Pat May, according terson to second to John D. vice president, W oods, board and M at t S. chairm an and Moyer and Brad chief executive S.K. WARE ford C. Neberofficer of Omaha gall to financial institution officer. National. Ms, Ware has been with Norwest O m aha N a Bank since 1977 and is manager of tional, Nebras G.R. NOELL the retail banking department at ka’s largest bank 20th and Farnam Street. She pre and one of the nation’s major agri viously has served at banks in Geor cultural lenders, will offer a com gia, Mississippi, Honululu and Mis plete range of lending services to # souri. farmers and livestock operators in Mr. Hobbie, who has been pro the High Plains region through the moted to second vice president and Garden City office at 204 Fulton manager of the residential real Terrace. estate department, located at Re “We have been very active in agri-# gency, was vice president of the real cultural lending in the region for estate department at Norwest Bank years, and we believe our market Omaha South. penetration in Kansas and surround Mr. Patterson was second vice ing states will be strengthened signi president and trust officer for Nor ficantly with the Garden City of-# west Capital Management and fice,” Mr. Woods said. Trust Company and formerly was Gene R. Noell has been named with the Federal Land Bank of vice president and manager of the Omaha. Garden City office. Mr. Noell joined Mr. Moyer had been serving as fi the bank in 1974 and currently is a # nancial institution group represen vice president and senior agricul- 57 FredKuehl Gerry Tomka Tom Jensen THE ANSWER MEN CORRESPONDENT banking can be confusing, frustrating, time-consuming. Not so at First National Bank of Omaha. Just call to get the answers from one of our six experienced correspondent bankers. Six men with the very latest financial technology at their fingertips dispensing profession al, dependable, confidential service. So call us for the answers to your correspondent banking questions — on electronic data processing, cash letter processing, overlines, fed-fund transactions and more. ~ In Nebraska, call 1-800-642-9907. Outside Nebraska, call 1-800-228-9533. You'll getthe answers from us, the answer men. first n a tio n a l b a n k https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis of omaha M e m b e r FDIC Northwestern Banker, May, 1984 58 Nebraska News tural loan officer for the bank in Omaha. Omaha National also operates an Agricultural Lending Office in Fort Collins, Colorado. director emeritus. Newly elected directors include: Ralph E. Adams, Chambers State Bank; R.A. Anderson, First State Bank, Hordville; Paul Chatelain, * * * Bank of the Valley, Bellwood; Jerome E. Konen, Roseland State Madonna M. Hall has been named Bank; Delwin Rumery, Scribner a mortgage loan officer in the Omaha Bank; David T. Schweitz, Security office of RealState Bank, Broken Bow; Robert J. banc, Inc., ac Sixel, State Bank of Scotia, and cording to John James T. Weaver, Valley National D. Woods, RealBank of Fremont County, Hamburg. banc chairman. * * * Ms. Hall has 16 years of ex Norwest Bank Omaha South, perience in mort N.A. has announced the promotion gage lending. of Micheál J. She most recent McQuillan to ly was with Amer m etropolitan M.M. HALL ican Charter Fed banking officer. eral Savings And Loan Association Mr. McQuil in Omaha. lan joined the * * * bank in 1979 as a part-time teller Fred H. Douglas has joined Kirk while attending patrick, Pettis, Smith, Polian Inc. as college and has vice president in been credit de its Omaha office. partment officer KPSP, an invest since 1982. He has a BS degree in m ent banking banking and finance from the Uni and securities «i ' « v -' i versity of Nebraska at Omaha. brokerage firm, * * * is an affiliate of Mutual of Oma Eight Buddy Bears were recently I ha with offices in presented to the principal at Bryan L in co ln and High School by John R. Cochran, Omaha. president and CEO of Norwest Bank F.H. DOUGLAS Mr. Douglas Omaha, N.A. as part of the “Adoptjoins KPSP following 35 years of ex A-School” program initiated by the perience in the banking and invest Omaha Public Schools. ment fields. In his new position he The objectives of the school and will be working with individuals and business partnership are to plan and financial institutions throughout implement a program which helps Nebraska and the midwest. students prepare to compete more * * * successfully in modern society and to seek to improve administrativeAt the annual stockholders meet managerial activities through the ing of the Packers Service Group application of combined professional and Packers Management Com expertise. pany, the following changes in the The school and business commit board of Packers National Bank tee members have met several times were announced: and made plans for special events. Guy L. Saunders has been named Bank representatives presented a chairman. Russell Kendall, who had seminar on February 27th on IRAs been serving as chairman was named to staff members. A personal banker will spend a day at the school to dis cuss student loans with graduating seniors. The Bryan High athletic depart ment has volunteered to sponsor clinics and workshops for bank em ployees. A survey was taken to de termine the level of interest in ten nis, golf, jogging, running, aerobics, etc. Other planned activities include: G.L. SAUNDERS R. KENDALL I DigitizedNorthwestern for FRASERBanker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis preparation of a brochure lis tin g bank speakers and their topics as re sources available for classroom teachers and recognition of students who maintain a 3.5 grade average and are part of the academic Excel-^ lence Program. Norwest Gets Fed OK to Buy 1st National, Grand Island ^ Norwest Corporation of Minnea polis was given final approval late last month to merge Bankshares of Nebraska into Norwest. The princi pal holding of Bankshares, a $14# million asset holding company, is First National Bank of Grand Island. First National was Nebras ka’s 11th largest bank at last yearend, with $116,764,000 in deposits# The name of First National will be changed to Norwest Bank Grand Is land, N.A., to conform to the corpo rate name of all Norwest banks. S.N. “Bud” Wolbach, 67, will continue a # chairman. President Richard E. Spelts, Jr., 65, will become vice chairman. Norman Nackerud, chair man and chief executive officer at Norwest Bank Hastings, N.A., wil# move to Grand Island as president and chief executive officer and will continue as chairm an a t the Hastings bank. Norwest now has six banks in Ne braska and the First National mer ger represents its first acquisition under multi bank holding company powers authorized last year by t h ^ Nebraska legislature. Norwest for many years has held these five other Nebraska banks (figure in parenthe ses represents ranking by size in Ne braska; deposits are 1983 year-end)^ Norwest Bank Omaha, N.A. (4)/ $452,575,000. Norwest Bank Omaha South, N.A. (6), $163,175,000. Norwest Bank Hastings, N.A. (7W $160,625,000. Norwest Bank Omaha West (10), $121,085,000. Norwest Bank Norfolk, N.A. (26), $78,151,000. p These five banks had deposits of $975,611,000 at year-end and with First National Bank of Grand Island added, the new total for the six Ne braska Norwest banks will bq^ $1,092,375,000, the second largest group in the state. Norwest Corporation has $20 bil lion assets in 85 banks and financial service companies located in 43B states and 5 countries. 59 Nebraska News oFed OKs Omaha National First Lincoln Merger The Federal Reserve Board has approved the merger of Omaha Na tio n a l Corporation and First Na tional Lincoln Corp. The surviving company is to be called FirsTier, Inc. The Federal Reserve Board also ^approved Omaha National’s applica tion to purchase shares of First Na tional Lincoln stock tendered in re sponse to Omaha National’s offer for such shares. a The Federal Reserve action fol lowed approval of the proposed mer ger by shareholders of both compa nies at shareholders meetings held Wednesday, April 4, 1984. H “With the favorable Federal Re serve ruling, we except to complete the merger within a few days after the expiration on May 24, 1984, of the 30-day waiting period required ^>y law,’’ said John D. Woods and William C. Smith in a prepared statement. Mr. Woods is chairman and chief executive officer of Omaha National ^Corporation and its wholly-owned subsidiary, Omaha National Bank. Mr. Smith is president and chief ex ecutive officer of First National Lin coln Corp. and its wholly-owned sub sid ia ry , First National Bank & Trust Company of Lincoln. At the time the merger is com pleted, payments will be mailed to First National Lincoln shareholders Svho tendered their stock. Omaha National’s offer to purchase shares of common stock of First National Lincoln at $42.50 per share expired on January 6, 1984, and approxi•n a tely 807,000 shares have been tendered and not withdrawn. As pre viously announced Omaha National will purchase all shares which are not withdrawn prior to purchase of ^ h e shares. “FirsTier will be built on the foun dation of financial strength and commitment to our state and region That our organizations have demon s tr a te d for more than a century,’’ said Mr. Woods and Mr. Smith. Mr. Woods will be board chair man and chief executive officer of J ’irsTier. Mr. Smith will be presi d e n t and chief operating officer. At their annual meeting, Omaha National shareholders also elected the 10 directors who will serve on ^the board of FirsTier. Five have oeen directors of Omaha National https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Corporation, and five have been di rectors of First National Lincoln. The Omaha representatives in ad dition to Mr. Woods, who will serve as board chairman and chief execu tive officer of FirsTier, are: Warren E. Buffett, chairman and chief exec utive officer of Berkshire Hathaway Inc., John C. Kenefick, chairman and chief executive officer of the Union Pacific Railroad Company and the Missouri Pacific Railroad Company; Walter Scott, Jr., chair man of the board and president of Peter Kiewit Sons’, Inc., and W.A. Strauss, chairman of the board of InterNorth, Inc. The Lincoln representatives in ad dition to Smith, who will serve as president and chief operating officer of FirstTier, are: George P. Abel, president of NEBCO, Inc.; Dwight C. Perkins, chairman of the board of Farmers Mutual Insurance Com pany; Dale C. Tinstman, director and former co-chairman of IBP, Inc., and Neal E. Tyner, president of Bankers Life Insurance Company of Nebraska. Under the merger agreement, Omaha National Bank and First Na tional Bank & Trust Co. of Lincoln will continue to operate under their existing names and with their own boards of directors and officers. Realbanc, Inc., Omaha National Corporation’s mortgage banking subsidiary, is changing its name to FirsTier Mortgage Co. Omnabanc Leasing Co., an Omaha National Bank subsidiary, has changed its name to FirsTier Leasing Co. Advanced in Plainview Plain view National Bank recently announced the advancement of Merle D. Johansen to assistant vice presi dent, loan officer and agricultural representative. Mr. Johansen has been with the bank four years and has attended several banking schools in addition to being a graduate of Nettleton Commercial School of Commerce. Kenesaw Chairman Retires Allen Norris, chairman and cash ier of the Adams County Bank, Ken esaw, has retired. He will continue as a member of the board and as chairman of the executive commit tee. The bank’s board also has an nounced the election of Ramon Nolte, president, as chairman; Den nis Utter, executive vice president, as president; Harlen Nolte, assis tant vice president, as vice presi dent, and Cindy Jacobitz, assistant cashier, as cashier. The Company Name Has Changed. . . William March President Robert E . Roh Executive Vice President Patrick H . Rensch Senior Vice President C . W. (Chuck) Poore, Jr. Senior Vice President A . William (Bill) A b ts, Jr . Vice President Wayne A . Rasmuss Secretary-Treasurer M icky Krupinsky Representative John Fleming Representative Now we’re the MBU Professionals. We’re the same people you worked with in the past. And we still spec ialize in tax-exempt investments. Appointed in Central City Gary W. Webster, president of The Farmers National Bank, Cen tral City, has announced the ap pointment of Kirk R. Riley as vice president. Mr. Riley most recently was with Citizens State Bank in Clearwater as assistant vice president. Municipal Bond Underwriters, Inc. Investment Bankers • Underwriters 208 South 19th Street, Omaha, Nebraska 68102 (402) 341-1144 In Nebraska Call Toll Free (800) 642-4413 Member of the Securities Investor Protection Corporation SÏPC Northwestern Banker, May, 1984 60 Promoted in Scottsbluff ILBUR H. Baack, executive W vice president of National Bank of Commerce, retired A pril 20. He spent his entire banking career at NBC, joining the bank in 1949. During those 35 years Mr. Baack was in volved in virtu ally every aspect W. BAACK of lending. For 20 years he worked closely with correspondent bankers across the state. Mr. Baack served as head of NBC’s correspondent division, as se nior vice president; as head of NBC’s lending group, and as executive vice president. He was active in the Ne braska Bankers Association, serv ing on several committees and as chairman of the correspondent com mittee. Mr. Baack was actively involved in community and civic functions. He is a past president of Trinity Lutheran Foundation, of the Na tional Office Manager’s Association (now Lincoln Personnel Manage ment Association), of the Lincoln Sertoma, and of Cedars Home for Children. Mr. Baack also served on the Lincoln boards of the American Cancer Society, the American Red Cross, and Youth Employment Ser vices. He is a member of the Lincoln Chamber of Commerce and has served as elder and treasurer of Trinity Lutheran Church. He will be honored by his NBC as sociates when he is given a “Salute to Wilbur H. Baack” during the Ne braska Bankers Association from 4:00 to 6:00 p.m. on May 4 on the 11th Floor of the NBC Center. Ne DigitizedNorthwestern for FRASER Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ^ Don L. Smith has been promoted to executive vice president of Scotts bluff National Bank, according to J.T. Selzer, president. His responsibilities will be super# vision of loan activity, loan officers, bank operations and bank invest ments. Presently secretary of the bank’s board of directors, Mr. Smith had® been in banking 26 years. According to Mr. Selzer, “The election of Don to the position of executive vice president will provide an orderly transition of responsibilities for thd& future and will assure the continuity in management.” braska bankers are invited to join in this salute to Mr. Baack. Mike Higgins & Associates * * * Locates in Grand Island Lincoln Bank East recently an nounced the election of Rodney R. Johnson as executive vice president. Previously with Lincoln Bank South, Mr. Johnson will be assuming lend ing and administrative responsibili ties at the bank’s 68th and 0 Streets main office. Mr. Johnson is a graduate of the American Bankers Association Commercial Lending School and is actively involved in the American Institute of Banking. Approvals Issued The following approvals were re cently issued by Roger M. Beverage, director of the State of Nebraska, Department of Banking and Finance: Western Cooperative Credit Asso ciation to convert its existing coop erative credit association charter to a credit union charter; Cones State Bank, Pierce, to ac quire Foster Cooperative Credit As sociation, Foster, and to operate a branch in Foster; O’Neill National Bank to acquire Page Cooperative Credit Associa tion and to operate a branch in Page; Brunswick State Bank to acquire Winnetoon Cooperative Credit As sociation and to operate a branch in Winnetoon; First State Bank & Trust Com pany, Cozad, to acquire Farmers Co operative Credit Association, Saronville, and to operate a branch in Saronville, and Farmers National Bank of Grant to acquire Venango Cooperative Credit Association and to operate a branch in Venango. Mike Higgins, an eleven year banking veteran who served the past five years as president and CEO of a $65 million Nebras ka bank, has formed Mike Higgins & Asso ciates, Inc., head q u a rt e re d in Grand Island. Mike Higgins & Associates proHIGGINS • vides financial institutions, invest ment and financial consulting orga nizations with contemporary man agement, strategic planning ancL marketing services. ® The firm’s bank clients currently range in size from $63 to $600 mil lion in assets, and are located in Cali fornia, Oklahoma, Kansas, Mis-| souri, Illinois and Nebraska. MHA1 also serves non-bank clients. Named in Holdrege First National Bank of Holdrege® has named Ron Sterr assistant vice president at its annual meeting. Mr. Sterr joined the bank in 1981. As an assistant vice president, h ^ serves as a loan officer with special® responsibilities in the bank’s leasing program, real estate lending, com mercial and agricultural lending. • Page Branch Approved The O’Neill National Bank of O’Neill has received approval from the Comptroller of the Currency t<^ open a branch office in Page. The Experienced Professionals of First National Lincoln. Ready to meet your correspondent needs. Put your trust in the correspondent specialists of The First Team. Fast. Knowledgeable. Backed by more than 113 years of strength and experience as Lincoln’s largest bank. The F irs t Team. FIRST NATIONAL LINCOLN 13th and M Streets • 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, 1984 62 You and your customers have a wide range of invest ment opportunities available from Bankers Trust. You can buy or sell through us with confidence that your transactions will b e handled promptly and smoothly We’re a registered dealer in all bankeligible securities including high-grade municipal bonds and notes, U.S. Government and Government Agency securities, bankers a c c e p tances, repurchase agree ments, CD’s, and overnight and term Fed Funds. You can also count on us for well-grounded investment counsel. We’ll work closely with you and your customer to determine the best direction for meeting specific goals. And because we serve as trustee, transfer agent, paying agent and registrar for many bond-issuing entities, you’ll find us an excellent source for information on pending new issues. For a single investment vehicle or assistance in struc turing an entire portfolio, call a Bankers Trust Invest ment Banker toll-free in Iowa: 800-362-1688. Out of state, please call 515-245-2424. ComeGrow W ith us Des Moines, Iowa 50304 Member FDIC, Federal Reserve System Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 63 with Peoples Savings Bank, Elma, where he has served as president since July, 1979. He started his banking career at the Tama State Bank and also served one year at State Bank and Trust Company, Ne vada. June 17-22 Dates For Iowa School of Banking farm management area. Prior to joining the bank in December of last The National Bank of Waterloo year, he was a field agronomist with has announced the following addi Land O’ Lakes, Inc. in Readlyn. tio n and promotions: Bob Cook has been promoted to Everett Brown has joined National data processing officer. He joined Bank as a vice president of corres the bank in 1979 in the accounting pondent bank and auditing departments. ing. Mr. Brown Wayne Vander Tuig has been pro t a s 20 years ex moted to operations officer. perience in bank ing, first with Cy Kirk Leaves UCB, Joins Boone State Bank and Trust Freeland Financial Service •Company, Boone, Cy Kirk has joined Freeland Fi and then with nancial Service, Inc. in Des Moines, Nor west Bank in after serving 31 Omaha, Neb., years in the bank E. BROWN where he was ing business. •Kce president in the correspondent For the past bank department. Mr. Brown most six years, Mr. recently was with Peoples State Kirk has served Bank, Missouri Valley, where he as vice president was executive vice president and in the correspon ^ ru s t officer. He recently sold con dent banking detrolling interest in Peoples State. partm ent of Tim Brodahl was promoted to as United Central sistant vice president and trust of Bank of Des C. KIRK ficer. He was a practicing attorney Moines. He had previously served mi Lincoln, Neb., before joining Na 13 years as vice president in the cor tional Bank of Waterloo in 1981. respondent banking department of Stephen R. Christensen has been LaSalle National Bank, Chicago, 111. appointed to officer status in the Mr. Kirk started his banking ca reer with Bankers Trust Company, Des Moines, where he served 12 years in the correspondent banking department, advancing to vice presi dent and department head. Freeland Financial Service, Inc, a bankers’ personnel placement ser vice, serving the central and western states, has recently moved to larger quarters at 1010 Equitable Building in Des Moines, according to Malcolm Freeland, president. Four Promoted in Waterloo Anita President Elected B. COOK W. VANDERTUIG https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Howard L. Poitevin has been elected president of Anita State Bank, according to Don Runger, chairman. Mr. Poitevin succeeds Jim Chelesvig, who has resigned to accept a position in Belmond. Mr. Poitevin most recently was The Iowa Bankers Association is once again offering the Iowa Gene ral School of Banking June 17-22 at the University of Iowa, Iowa City. This year’s program has been re vised from previous years’ schools in that the first-year curriculum is part of ABA’s professional develop ment program, developed by David Friedman. Mr. Friedman is an economist, au thor and banking instructor. He has held major staff positions at the Federal Reserve Bank, has been on the faculty of the American Insti tute of Banking in New York since 1974 and has been a member of the Department of Economics at Brook lyn College since 1965. Topics for this year’s school in clude macro-economics in the bank ing system, deposits and liabilities, trust services, cash management services, marketing bank services, lending, investments, asset liability management, bank financial analy sis, bank operations/data process ing, financial planning and control, human resource management, and the changing bank environment. During this transaction year the second-year students’ curriculum will be appropriately adapted and will include modules on lending poli cy and investment policy. They will also be getting ABA’s BankSim I, developed jointly by the ABA and the FDIC, and improved over pre viously used Bank Simulations models. For further information contact Marva McCarty at the Iowa Bank ers Association. Joins Council Bluffs Staff Jerry L. Jares has joined the staff of First National Bank of Council Bluffs as commercial loan officer and assistant vice president. Prior to joining the FNB staff, Mr. Jares was with Fillmore County Bank in Geneva, Neb. He has a bachelor’s degree in business admin istration from the University of Ne braska at Lincoln. Northwestern Banker, May, 1984 64 Iowa News program; Timothy J. Coughlon, e ^ ecutive vice president, Norwest Bank Sioux City, N.A., and Doug McKeever, senior vice president, Ci tizens & Southern National Bank, Atlanta, Ga. £ Tuition, room and board for the Commercial Lending school is $650. Details from the IBA will be sent to the CEO of each bank. Promoted in Marshalltown Fidelity Brenton Bank & Trust Company in Marshalltown recently announced the p r o m o t i o n of THE bank lobby was busy with activity as exhibitors and visitors examine handouts and sample dairy products and baked goods which were supplied by various farm organiza Dennis Miller to vice president in tions, during Ag Appreciation Day at the First National Bank of Waverly. marketing. He previously had First N ational Bank of W averly been marketing director. Celebrates Ag Appreciation Day Ray SchwichHE FIRST National Bank of that Al E. Williams and Emmett J. tenberg has been Waverly hosted an open house Scherrman were elected to the promoted to as on March 23 at their main banking bank’s board of directors. In addi sistant vice pres facility in downtown Waverly, as a tion, D. Alfred Jones was named ident and Albion office manager. tribute to the American farmer. trust officer and Richard A. Samek Various farm organizations, in has been named loan and operations cluding Bremer County Extension officer. Service, Cattlemen and Cowbelles, Mr. Williams is manager of the Pork Producers and Porkettes, Cedar Rapids General Mills plant, a Dairy Promoters and Partners, position he has held for the last 11 Farm Bureau Women and the Iowa years. Mr. Scherrman has served as Soybean Promotion Board had ex president of Lease American since hibit tables in the bank lobby. its founding 25 years ago. Samples of products that originate Mr. Jones is responsible for estate M. HAM LETT on the farm were available as well as planning and trust activities for the R. SCHWICHTENBERG informational brochures and recipes. Brenton Banks in Cedar Rapids, Matt Hamlett was promoted t(# The 1984 Bremer County Beef Vinton and Davenport. assistant vice president, agricul Queen, Kristie Axon, as well as Mr. Samek is a graduate of the tural loans. He previously was an Dairy Princesses, Gretchen Gitch University of Iowa with a BBA in agricultural loan officer. and Deanne Dietz, and Little Miss accounting and finance. Squirt, Jeanie Even were on hand at their respective exhibit tables. Four IBA to Sponsor Commercial Marion Bank Sponsors implement dealers displayed farm Three Students for Seminar and garden equipment, also in the Lending School, Aug. 19-25 Farmers State Bank, Marion, has bank’s lobby. The Iowa Bankers Association Approximately 650 people en will be sponsoring, for the first time, contributed to the sponsorship of joyed a lunch which was provided by a Commercial Lending School to be three local high school students' the bank and served by the Cattle held August 19-25 at Iowa State selected to attend the Young Iowan’s men and Cowbelles. Four lucky win University, Ames. Enrollment will Leadership Seminar held in June in ners took home scale model farm be limited to in-state bankers and Des Moines. The seminar is part of toys from the drawing. commercial loan officers are encour the Hugh O’Brian Youth Founda-Jim Arens, bank president com aged to attend. Curriculum and ma tion dedicated to the recognition and' mented, “Events such as these terials for the school were developed development of leadership potential make us all more aware of the posi by the American Bankers Associa of high school sophomores. tive impact that agriculture and re tion under the new Professional De lated industries have on our econom velopment Program. Faculty for the school include: ic growth and stability.’’ John Barrickman, senior vice presi dent, Bank of Earnings Interna Named in Cedar Rapids tional, Atlanta, Ga., a consulting Brenton Bank and Trust Com firm with primary responsibility for pany of Cedar Rapids has announced the commercial lending consulting T Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 65 Advantage Competition in today’s banking game is fierce. To win, you have to have the advan tage of strong financial services. Regard less of your bank’s size you can profit through American Trust and Savings Bank’s Correspondent Banking Department. They can serve-up advantages like over-line loan participation, wire transfer of funds, trust and investment counseling, plus much more. Bernie Miller and his correspondent banking team have been in the game a long time. With over 100 years of team experience and training, they’re pros . .. they know strong services bring strong returns. Strength in service for your cus tomers, ultimately means more profits for your bank. Talk to Bernie Miller about the advantages at American Trust and Savings. 319/582-1841. From left to right standing: Bernie Miller, Second Vice President Correspondent Banker; Gene Hayertz, Vice President Investments. Seated: Christy Armstrong, Consultant; Don Wand, Senior Vice President Operations. American 4Trust 6 Savings DanK Dubuque, Iowa 52001 319/582-1841 Member Federal Reserve System and Federal Deposit Insurance Corporation https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 More than ever before United Central Bank is committed to correspondent banking. This commitment means assisting you in manag ing a profitable and efficient community bank. Never before have the technical skills and expertise of your correspondent bank been so vital in helping you keep abreast of the many financial changes taking place. At UCB we have dedicated this level of expertise and talent from proven performers. These are the people of your Iowa Correspon dent Services Division. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IOWA CORRESPONDENT I SERVICES Michael Austin Vice President and Manager Iowa Correspondent Services Division (515) 245-7251 Michael’s expertise includes twelve years of banking, eight of which were in Iowa, working with national accounts, financial institu tions, real estate, international banking, and corporate services. He has an extensive background in lending, operations, and cash management responsibilities a correspondent division manager requires. Michael’s knowledge of loan analysis, structuring and funding provides you with an excellent resource to questions you may have regarding your own bank’s commercial and correspon dent accounts. Kenneth Danilson Vice President Iowa Correspondent Services James Eiler Senior Vice President and Senior Lending Officer Commercial Services (515) 245-7348 (515) 245-7100 Ken’s ag loan experience spans a period of nine years and includes ® heading a $15 million ag loan department in a rural Iowa bank. As a previous county supervisor and assistant county supervisor of the Farmer’s Home Administration for five years, Ken understands the concerns facing the agricultural and financial community. William Mullins Assistant Vice President Iowa Correspondent Services (515) 245-7157 Bill’s seven years experience as a bank examination analyst and bank examiner is valuable to all our correspondent bank customers. His expertise in credit analysis, banking laws and all bank examination procedures and reports makes him an outstanding addition to the UCB Iowa Correspondent Services Division. Jim’s eight years in banking includes three years as president and chief executive officer of a rural Iowa bank. His experience includes all lending activities and management responsibilities associated with a strong agricultural bank. His background includes com mercial lending and correspondent responsibilities in Iowa and Nebraska while employed for 1st Bank of St. Paul. Margo Foxhoven Operations Assistant Iowa Correspondent Services Division (515) 245-7019 Margo’s experience includes ten years in support services for various UCB departments. Her knowledge of all bank areas and functions will assist you as a correspondent bank customer in receiving correct answers to your financial questions. Richard Hickman Vice President and Manager Investments Vernon Hoskinson Vice President and Manager Operations (515) 245-7029 (515) 245-7290 Rick’s ten years experience at United Central Bank in all investment areas provides you, the correspondent bank customer with a resource of knowledge in stocks, bonds, Fed funds, etc. and other service areas unique to UCB including the self-directed IRA i ) program and the discount brokerage service available for corre spondents’ use in their banks. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Vern’s 26 years with bank operations includes 23 years experience in operations at the Federal Reserve. His background provides UCB’s staff with the knowledge of data processing equipment, methods and handling necessary to effectively assist you in your correspon dent needs. His involvement in the accounting and check collection functions of the bank complements his operations background. 68 Iowa News Food Store Bank O ffice Opens tablishment of a branch office to b # located in the new Hy-Vee Store on West Court, subject to approval of the regulatory authorities. He stated that the new branch would provide increased service and cor# venience to the community. This would be only the second such facili ty located in a Hy-Vee Store and is in keeping with a national trend of taking the bank to the people. # Stanhope Bank Purchased HAWKEYE Bank and Trust of Mount Pleasant recently celebrated the opening of its office located in the local Hy-Vee Food Store. Bank President Don Carmody believes this to be the first bank office in Iowa located in a grocery store and to also be equipped with a driveup facility. Mr. Carmody also noted that the office hours of 11:00 a.m. to 7:00 p.m. were de signed for the convenience of customers who are unable to bank during normal working hours. Participating in the ribbon cutting ceremonies and pictured above are: Chamber of Commerce Ambassador Dick Augsburger; Helen Snodgrass and Sue King, tellers; Stan Ed wards, off. mgr. and loan off.; Don Carmody, pres.; Joe Halferty, store mgr.; Mayor Edd King, and Chamber Ambassador Roger Mallard. Webster City Promotes Four Norm Skadburg, president of First State Bank of Webster City, has announced the following promo tions: Jeff Plagge has joined the staff as vice president and a director. He most recently was area vice presi dent and manager of the Webster Ci ty branch of the PCA. Linda Cormaney was promoted to administrative officer of the bank. Previously assistant cashier, Ms. Cormaney has been with the bank since 1965. Dolores Schaa has been elected C.D. and savings officer of the bank. She joined the staff in 1976. Mark Sams, vice president and cashier, has been elected to the bank’s board of directors. He was employed at Norwest Bank Cedar Falls for 11 years prior to joining the bank in September of last year. Chariton Director Elected, Hy-Vee Branch Announced J. PLAGGE D. SCHAA L. CORMANEY M. SAMS Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Larry Rolfstad, president of Na tional Bank & Trust Company of Chariton, has announced the elec tion of Ron Pearson to the board of directors. Mr. Pearson, president of Hy-Vee Food Stores, Inc., of Chari ton, replaces H.W. Trumbull on the board. Hy-Vee Food Stores operates 133 retail food stores and 18 drug stores in Iowa, Missouri, Minnesota, South Dakota, Nebraska and Illi nois. Mr. Rolfstad further announced that the board has approved the es Bob Van Diest and his wife c ^ Webster City have received approval from the Iowa Department of Bank ing and the FDIC to purchase con trolling interest in the Farmers State Bank, Stanhope, from th ^ John A. Walker family. Mr. Walker will be remaining with the bank in an interim period as president of the bank. Jeff Plagge has been named exe<# utive vice president and managing officer. He previously was vice presi dent of PCA and has been manager of the Webster City branch the past three years. # Mr. Van Diest, and Norman Skad burg, president of the First State Bank, Webster City, have been named to the board of Farmers State Bank. Directors Eldred Lund# quist, Roger Arends and Mervyn Dick will retain their positions on the board. The Van Diest’s plan to make ap plication with the State Departmen# of Banking and the FDIC to merge the First State Bank, Webster City, and the Farmers State Bank, Stan hope. Upon regulatory approval, the merged First State Bank will h a v # banking offices in both Stanhope and Webster City. Elected in Mason City Daniel J. Zitelman has been elected assistant vice president of Norwest Bank M ason C ity , N.A. Mr. Zitelman joined the bank in 1980 as an ag ricultural credit trainee and was elected an agrid .J. ZITELMAN cultural loan of ficer in 1981. His responsibilitie# will remain in this area. 69 Whenacustomerdies, *hisbiggestlegacyshouldn't bealoanbalance. the time, and his family rthing. Including )alance. hit you can prevent that from happening to your customers. W ith IBIS creditor protection insurance. We have a full line of plans to choose from. One that offers a complete excess program, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis as well as uncomplicated coverage for the complex agribusiness world. It’s also insurance that, like our company, is designed by Iowa bankers to help Iowa bankers. So it comes with benefits for you, too. Like a fully computerized claim system, sales and product seminars plus life and credit life licensing schools. W ant to know more? For complete IBIS creditor pro tection insurance details, call 1-800-532-1423 toll-free.Today. IowaBankers Insurance& Services,Inc. 400 Financial Services Building/508 Tenth Street Des Moines, Iowa 50308 Northwestern Banker, May, 1984 70 Iowa News Acquires City National Count on Ron Kiel. Ron Kiel’s agricultural ex perience and recognized expertise in the area of cash management has given him a unique under standing of community banking needs. It's also given him a personal commitment to his correspondent bank customers. They know they can count on Ron to provide not only the best in ag overline, data processing and cash management services, but the information, advice and guidance necessary for a better, more profitable operation. If that’s the kind of service you’d like to be able to count on from a correspondent banker, call Ron Kiel at Security National today 712/277-6554. SECURITY NATIONAL BANK Sioux City, Iowa 51101 Member F.D.I.C. Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis • The Federal Reserve Board has granted approval for the newly formed Bezanson Corporation, owned by Peter F. Bezanson, to purchase C it^ National Bank of Cedar Rapids from E.J. Buresh of Anamosa. The pur chase price was not disclosed. Jerry Maples, an officer of Bezan son Corporation, stated, “We are e ^ tremely pleased to be a member of the Cedar Rapids banking commu nity. City National plans to embark on an aggressive approach in the de livery of rapidly expanding financi# services to individuals and busi nesses in this area. We have a great deal of confidence in the eastern Iowa economy and our bank will take an active part in its continue# growth.” In keeping with that commitment to growth and service, Mr. Bezanson announced after the bank’s an nual meeting late last month that Gary Peterson has been elected the new presi dent of City Na tional. Mr. Pet erson has been with United Cen G. PETERSON tral Bank and Trust Company of Fort Dodge for the past 12 years and in that time helped pilot that institution to an outstanding growth record, Mr. B e ^ anson stated. He noted that assets of the bank Mr. Peterson headed had more than tripled during that time to $125 million. Mr. Peterson announced at th ^ meeting that City National will im mediately expand business hours for customer convenience; add several services, including instant cash, debit card, MasterCard and Visa; ir^ troduce a discount brokerage ser vice, and enlarge its customer ser vice departments. City National Bank’s main bank building is at 1100 Old M ario# Road, Northeast. It also has a full service branch at Lindale Plaza. As of March 31, 1984, the bank had as sets of $23,000,000 with deposits in excess of $19,000,000. # The bank was founded in 1957 by industrialist Howard Hall. Mr. Buresh, who lives in Anamosa where he is owner and president of Citizens Savings Bank, purchased control# ing interest in City National in 1971. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 72 Iowa News For Correspondent Bank services, there’s a big advantage to working with Valley Bank’s Professional Bankers. In fact, there are two. Waterloo Bank Announces Promotion and Additions 9 Peoples Bank and Trust Company of Waterloo has announced the promotion of one of ficer and the ad dition of two others. Henry E. Edsill has been pro moted to assis tant vice presi dent and trust officer. He joined the bank as a H.E. EDSILL trust officer in 1981. These two professionals make up our Correspondent Bank and Money Desk Departments. We’re not the biggest in Iowa but we think you’ll agree our service is the best. W.J. BROWN Mark Christen Vice President and Head of our Correspondent Bank Division Mark Christen is Vice Presi dent in charge of the Corre spondent Bank Division. He’s responsible for helping you with Overlines, Transit Ser vices, and Investments. Dennis Hagedorn Vice President and Money Desk Manager Dennis Hagedorn manages Valley Bank’s Money Desk. He’s the one to count on to help with Federal Funds, Cer tificates of Deposit, Safekeep ing, Securities, and Wire Transfers. Mark and Dennis make a good team. Both are dedicated bankers. They’re always ready to give you their undivided attention, regard less of how small or large your request. And what’s more, they consider it a privilege to work with you. There’s Nothing Like Money in the Bank... The Valley Bank Valley National Bank ifi DES MOINES. IOWA 50304 Member FDIC A BANKS OF IOWA BANK Discover the Valley advantages. Call TOLL FREE (800) 622-7262 (Iowa, only). Digitized Northwestern for FRASER Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A.J. WATERMAN Warren Jay Brown and Alice J. Waterman have been named assis tant cashiers. Mr. Brown, who wil* serve as manager of the Peoples Bank Dunkerton Office, previously was with a bank in Anita, with agriculture lending and insurance agency responsibilities. ™ Ms. Waterman will manage the bank’s Kimball Office, replacing Elaine Perry who will be moving to the Main Bank. A Peoples Bank, Waterloo Named a Certified Lender Peoples Bank and Trust Company^ Waterloo, has been selected as a Cei® tified Lender under the Small Busi ness A dm inistration’s Certified Lender Program. Joins Staff in St. Ansgar • Patrick J. Rourick has joined the staff of St. Ansgar State Bank ac cording to Donal Halvorson, pres ident. Mr. Rourick, who will primari ly be working in the tru st area and developing an estate plann ing assistance service, most re P.J. ROURICK cently was with Federal Land Bank of Omaha. 73 * Talk to our expert . for assistance with ag lending. For Mark Sorensen, Assistant Vice President of our Agricultural Loans department, ag lending isn’t just another job. He lives it, every day. Mark doesn’t spend all of his time sitting behind a desk. You can usually find him out there talking to farmers, finding out w hat their needs really are. So it stands to reason that Mark is in a great position to provide the assistance you need with agricultural related subjects. He can help out with cash flow planning and analysis, commodity price trends, overline assistance, workout situations or just about any other problem you might encounter. FIRST NATIONAL OTTTRS A WTALTH OT CORRTSPONDTNT STRVICTS. Gary Stevenson INVESTMENTS DATA PROCESSING Vice President Correspondent Banking Get experienced help and fast action in handling Fed Funds transactions, money transfers, security purchases and sales. We can put you on-line to the Banks of Iowa computers, the area’s most successful EFT/ Instant Access processor. LOANS MICROCOMPUTER ANALYSIS Overline, liquidity and bank stock loans, com mercial loans and more. We can provide guidance on equipment needs, technology and programming. 712- 277-0618 First National Bank stands ready to place its total resources at your disposal. Just contact Gary Stevenson for assistance with any of the following: 9 CREDIT CARD SERVICES Merchant and consumer services for both MasterCard and Visa. ITEM CLEARANCE TRUST CONSULTING A fast, accurate, efficient system that assures maximum funds availability. Our Trust department is ready to help you with any and all client needs. Remember, when you need help with any of these services and more, First National Bank is only a phone call away. See you at the Iowa Group Meetings and the Nebraska Bankers Convention! First National Bank is i MEMBER EDIC • 7 1 2 -2 7 7 -1 5 0 0 • Sioux City, Iowa 51101 • A 'BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, May, 1984 74 Iowa News SPEAKERS at the 1984 Ag Credit Conference conducted by the Iowa Bankers Association included, from left: Oliver Hansen, pres., L ib e r^ T&S, Durant; Neal Conover, v.p., Hayesville Savings; Roger Engelkes, chmn. IBA Ag Committee and exec, v.p., Grundy Natl., Grunc^ Center; Tom Huston, Iowa supt. of bkg., and Howard Hagen, Iowa asst. atty. general. RIGHT—Panelists discussing ag loan facilities were Les Peterson (left), pres., Farmers State of Trimont, Minn., and Neil Stadlman, a.v.p. in Ames for FBS Ag Credit Corp. of Minneapolis. Iowa Ag Bankers Exam ine Future EARLY 350 Iowa bankers N assembled at the Scheman Cen ter at Iowa State University in Ames March 19 to take part in the Iowa Bankers Association’s 1982 Ag Credit Conference. It ran from Monday noon to Wednesday noon, offering three general sessions that dealth with ag lending and ag-related topics of importance. In addition, two series of workshops covered six topics on operational procedures re lated to ag lending. Presiding at the conference as chairman of the IBA Ag Committee was Roger Engelkes, executive vice president of Grundy National Bank, Grundy Center. A special feature of the conference was a report from Neal Conover, im mediate past IBA Ag Committee chairman and vice president of Hayesville Savings Bank, on a farm meeting held in Des Moines a week earlier at IBA headquarters with na tional government leaders. At peer group sessions held the last morning of the Ag Conference in Ames, bank ers indicated their priorities con cerning what to do about the de pressed farm economy and their ag customers, as a prelude to possible federal legislation. That list of priorities was ap proved by the IBA board of direc tors, which presented it to the Iowa House and Senate. Those members adopted it almost verbatim as Joint Resolution #111 and forwarded it to the President, Vice President, Secre tary of Agriculture and members of the Iowa Congressional delegation, where it now rests. (Details appeared Digitized Northwestern for FRASER Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis in the 4/23 Weekly Newsletter of the N or thwest ern B a n k e r .) A headliner at the first general session was Iowa Congressman Tom Harkin (Dem.), who is campaigning for the Senatorial seat held by Sen. Roger Jepsen (Rep.). Rep. Harkin spoke for his bills, H.R. 3296 and 3297, which would basically negate the security position of a bank on livestock and sales barn transac tions. It is supported by ag inter ests, including grain dealers and all service groups who want to prevent banks from exercising their security interests as lenders. Natually, the IBA and other banking groups op pose the measure. Oliver A. Hansen, president and chairman of Liberty Trust & Sav ings Bank, Durant, who is a national spokesman for the ag industry, told his audience that farmers have gone from a $50 billion debt to more than $200 billion debt in just a few years, “and 94% of the increase in ag net worth was inflated gain.’’ “We’re in a critical period now,’’ he stated, because “ 14% of the farm ers have 50% of the debt, but only 16% of the assets. In some areas, it’s heavier than that. In 1982, if a farmer had a 30% debt/asset ratio and paid 11% interest on debt, he lost money. Three years ago the debt/asset ratio was 24%. The 1983 figures will show it’s now 35%. Where do we bankers go from here?” He said each problem, each cus tomer is different, so each must be treated individually. “We have peo ple who have never been hit before. We must determine who can be sal vaged, and attitude has much to do with that. I wish the farm journals would stress the importance of atti tude. We can’t abandon those people now. We must determine if they ar0 good managers. Did they do things they should have done when times were better? If a particular custo mer is worthy and won’t take ‘no’ for an answer, then where do we tak # him?” Mr. Hansen suggested the FmHA and the SB A and urged the bankers to send someone along with that customer for two reasons: “ 1. Whe# he comes back we know what was said; we don’t get a jumbled story. 2. He gets a pack of papers to read and complete and we can help him. If we can’t do any of the above and them is no other way, then help him make an orderly liquidation. He might be able to salvage something if he gets out at the right time.” _ Mr. Hansen ended on an optimi™ tic note, saying, “We’ve been here before and we’ve survived, and we will do it again! These aren’t the worst times ever. Input costs a r^ higher, but where would we be today without Social Security, the FDIC, unemployment compensation? We know we’ll keep going. Some things will be passed by legislatures w ^ won’t want. “Make it a goal to resolve one pro blem each month. In visiting with bankers I find their note cases are capable of being straightened o u ^ but you must solve them one by one. This is a great time for young bank ers to learn what banking is all about. Ag problems are out there, but we can work with them. Somqp how, we must get the message 75 curity State Bank in Independence as assistant vice president in the loan department. He previously was a bank ex aminer with the Federal Reserve in Chicago for four years. Iowa News John Ruan, chairman of Ruan Companies and chairman of Bankers Trust Company, Des Moines, pre sented the case for establishing a World Trade Center in Des Moines and showed the slide film support ing the World Trade Center build ing. Its favorable effect on agricul ture was noticeable to all in atten dance; however, the project lost in the 1984 state legislature after four separate votes killed it because of lack of funds. □ Joins Independence Bank ^lOHN RUAN, chmn. & ceo of Ruan Compa nies and chmn. of Bankers Trust, Des Moines, discussed the proposal for con structing a World Trade Center in Des Moines. 0cross to legislatures that we are not loaning the banker’s money but de positors money! Our banks are growing. How many farmers do you see coming in who are not borrowing flnoney and you wish they did? “The primrose path doesn’t al ways go uphill. We will again be able to relax a little as we go down the hill.” • Superintendent of Banking Tom Huston reminded the ag bankers that a lot of machinery and land that was written up in loans with high asset value has now had to be sold '•tor much less than the stated value, greatly affecting many bank loans geared to the higher value. “ In some areas of our state,” he said, “I think we should prepare for a 10% to 15% %rop in land values, maybe more. We must look closer at the real value of property statements. “So many include stuff that shouldn’t be there or is overpriced. I 'Wiink it’s time to ratchet down. I think some national exam policies of writing down a flat percentage are wrong. We do have many who value statements correctly.” ® He reaffirmed Mr. Hansen’s state ment about the individuality of each customer. “We are in different times,” Mr. Huston said. “We’re looking at huge charge-offs all over The state. But we can’t just kick out every person in our bank that doesn’t have good cash flow. Look at each case.” Mr. Huston said classified loans o capital accounts had been run ning at 39.71%. “As of March 16,” he noted, “that figure now is 42.1% and, as I have said before, it will go 50%. But keep the engine run ning. Be smart. Be compassionate.” https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Craig K. Coffman has joined Se One Promoted in Adrian Adrian State Bank has announced the promotion of Howard W. Meyer to executive vice president. He for merly was vice president and loan administrator for the bank. Also announced was the addition of Brian A. Wohnoutka as a loan trainee. Anyone Responsible ForA Half Million Dollars Shouldn't Have ToW ork TwoJobs. Making money is a full time job. Unfortunately, so is manag ing it. And most people and companies are far better at getting rich than they are at staying that way. Unless they hire us, Statesman Investment Advisors. We work for individuals, corporations, endowment funds, pension funds and associations with manageable assets of a half million dollars or more. And we'll manage your assets on a hat and to your goals and objectives. We offer no products, no insurance and receive no commissions. All we have to sell is a staff with 35 years of broad investment experience and over $150,000,000 under management. Want to make your half million whole? Put Statesman Investment Advisors to work for you. Call 515-284-7648. REGISTERED INVESTMENT ADVISORS The Statesman Group, Inc. Suite 804 Des Moines Building Des Moines, IA. 50309 (515)284-7648 Statesman In v estm en t A dvisors, inc . Northwestern Banker, May, 1984 76 west Missouri State U niversity joined the bank in 1982 and pre viously served as investor center representative for Hawkeye Bank & Trust of Des Moines. *** D e s M o in es t. David L. Miller, president and chairman of the board of the West Des Moines State Bank, has an nounced the following staff addi tions and promotions: William B. Greaves has been e le c te d vice p re sid en t and credit manager. He is a veteran of more than 34 y e a rs in th e banking indus try and has been active in several civic and profes sional organiza W.B. m GREAVES tions. He was for merly associated with United Cen tral Bank of Des Moines. Rod S. Weikert, formerly an assis tant cashier, has been elected assis tant vice president. He is a Univer sity of Northern Iowa graduate and served as marketing director for Mu tual Federal Savings and Loan As sociation of Mason City prior to joining West Bank. Penny Beier has joined West Bank as a credit/loan administration specialist. She is a Drake University graduate and a Certified Public Ac countant. Prior to joining West Bank, she served in several capaci ties with Bankers Trust Company of Des Moines, most recently as a com mercial loan officer. Ron A. Phillips has joined West Bank as a branch operations/credit specialist. He formerly was a credit manager at Bankers Trust Company of Des Moines. He is a graduate of Grandview College and Drake Uni versity. Northwestern Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Holmes Foster, president and chief executive officer of Banks of Iowa, Inc., re cently announced the appointment of Gary L. Harstick as vice president, mar keting and stra tegic planning. He will be chief marketing offi cer for the com G.L. HARSTICK pany and will also be responsible for directing the strategic and long-range planning activities. Mr. Harstick began his career with Valley National Bank, Des Moines, in 1972. He has served as marketing manager for Affiliated Bankshares of Colorado, Denver, and as president of First Colorado Bank, N.A., Colorado Springs. Most recently, he was vice president, pro duct management, First Interstate Bank of Denver. * * y J. Locke Macomber, chairman of Valley National Bank, announced that Robert D. Edison was elec ted a member of the bank’s board of directors. Mr. Edison is senior vice presi dent and direc tor of Interna tional Bank and president and di R.D. EDISON rector of Finan cial Security Group, Inc. both in Washington, D.C. He is president and director of Northeastern Insur ance Company and First Reinsur ance Company, and vice chairman the board of Hawkeye-Security and United Security Insurance Compa nies in Des Moines. * * * • Herman Kilpper, president and chief executive officer of Bankers Trust Co., has announced the follow ing promotions and staff additionsRobert V. Brennan, vice pres® dent, was promoted to manager of the Metopolitan Des Moines region and reports to Larry Frowick, senior vice president. ^ He joined Bankers Trust in Aug ust, 1979 as an assistant vice presi dent in commercial loan, and in 1981 was promoted to vice president. * James M. Earley, President of Hawkeye Bank & Trust of Des Moines, has an nounced t h a t Peggy A. Rivers has been elected to the position of branch manager. Ms. Rivers will assume responsi bility for the bank’s Clive Of fice located at 8500 Hickman Road. Ms. Rivers who attended South R.V. BRENNAN D.E. KEARNEY Donald E. Kearney has joined Bankers Trust as vice president in commercial loan administration. His 27 years of banking experience iny elude serving as the president of Union Story Trust and Savings Bank in Ames for ten years and as president of Exchange State Bank in Adair for two and one-half-yearsy Merle J. Baumhover joined Bank- 77 J. Paul Ahlers has been named se nior trust officer. He started in 1966 in the trust division, and has been serving as trust officer since 1972. Named officers were, Diane M. Laughridge, human resources, and Robert C. Scieszinski, real estate loans. In addition, Wendell Kneller has joined the staff as commercial banking officer and Eric A. Randolf has joined as commercial banking trainee. Iowa News ^ r s Trust as an assistant vice presi d e n t in the Metropolitan Des Moines region group. He has most recently served as vice president and manager of the commercial loan portfolio at Plaza State Bank. Jack A. Stuart has been named managing officer of the Main Bank Retail facility. He joined Bankers Trust in May, 1983, as a consumer Ranker and was named consumer oanking officer in January, 1984. Jack has prior banking experience with the Florida Bank of Commerce and is a graduate of Drake Univer s ity . Bradley J. Hansen was appointed commercial banking officer. He joined as a management trainee/credit ana lyst and in January, 1984 was as sig n ed to the commercial business development division as a commer cial banking representative. David W. Mackaman was ap pointed commercial banking officer. began with Bankers Trust in April, 1982, as a management trainee/ credit analyst and was promoted to commercial loan representative in July, 1983. (| Anne L. Avise was promoted to administrative services officer. She joined Bankers Trust as records manager in November, 1981, and has received her CRM. Prior work Experience includes working as a management analyst for the State of Iowa for three years and as a budget/ audit analyst for Life Care Services Corporation for one and one-half %ears. * * * Norwest Bank Des Moines, N.A. Recently announced the following prom otions: James W. Woodsmall has been named vice president, card services. He joined the bank in 1982 and was named second vice president later P h a t year. Robert K. Hammer has joined the bank as vice president and manager of sales and marketing, card servi- J.W. WOODSMALL R.K. HAMMER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M.E. CONWAY Lamoni National Bank Hosts Ag Day Seminar J.P. AHLERS D.M. LAUGHRIDGE R.C. SCIESZINSKI W. KNELLER E.A. RANDOLF ces. He previously was with Mer chants National Bank of Topeka. Tom L. Quinlin has been named second vice president, commercial banking. He joined in January of 1969 in the card services division. He most recently was financial insti tutions officer. Mark E. Conway, named second vice president in commercial bank ing, joined Norwest in Des Moines in 1977 as a management trainee. Vicki K. Butler has been named second vice president, human re sources. She joined in 1979 as hu man resources administrator, com pensation and affirmative action. In January of 1983 she was given addi tional responsibility for staffing and was recently re-assigned responsibil ity for compensation. More than 200 area farm custo mers braved blizzard, icy conditions to attend an Ag Day Seminar hosted by Lamoni National Bank in early March. James Schipper, president of Lamoni National, said the officers and directors were highly pleased with farmer response to the positive program presented. The seminar began at 9:00 a.m. and concluded with a barbecued beef luncheon. First speaker was Derry Brown field, an ag broadcaster whose Brownfield Network from central Missouri is heard over move than 125 radio stations throughout that state and southern Iowa. He was fol lowed by Robert deBaca, PhD, oper ator of his own purebred Angus cat tle operation and who is a consultant in the cattle business. Frank Starr of Denver, Colo., who with his sons purchased the Lamoni bank and recently converted it to a national charter under the Lamoni National Bank name, discussed the positive aspects of the area economy to tell farmer guests why his family invested in the Lamoni bank. Mr. Schipper was the concluding speaker. He reviewed the changes taking place in farming, as well as the changes taking place in banking, including the effects on banks and their customers of deregulation. It is planned to make the seminar for bank customers and area farmers an annual event. Joins Audubon Bank John Johnson, formerly vice pres ident of the United Central Bank of Cresco, has joined the Audubon State Bank as senior vice president. Mr. Johnson fills the vacancy created by James B. Ingeman, who has accepted a position as president of Karlstad State Bank, Minnesota. Northwestern Banker, May, 1984 78 Iowa News 11 - m m 1 : !1 € má i ^ "Ii BpBI ? * : s 1I I W È m a HOSTS at First National Bank of Chicago’s “ Update Seminar” for community bankers in Iowa City were Vice Presidents C.E. “ Bud” Cross and Tom King, both at left, and Nick DeLeonardis, at right, pictured with George Daly (second from right), dean of the University of lo w ^ College of Business Administration. RIGHT—Other 1st Chicago officials on hand for the Iowa City meeting included, from left: Paul Gargula, In. off.; Brenda Dwyer, mktg. off.—service products; Jean Jobb, special events, and Nevin Bowser, v.p., financial mkts. 1st Chicago Conducts Update Sem inars N UPDATE SEMINAR was presented recently by First Na A tional Bank of Chicago to communi ty bank executives in six cities by officers of First Chicago. Thomas M. King, vice president and head of the Community Bank ing Institutions Division, hosted the meetings in Iowa City, la.; Madison, Wis.; Peru and Decatur 111., and An derson and Notre Dame, Ind. Speak ers for the half-day seminars were principally from the officer staff of the host bank. Dr. Herbert V. Prochnow, 86, re tired president of First National Chi cago, and a founder of the Graduate School of Banking at the University of Wisconsin, Madison, addressed the assembly of bankers in Madison. George Daly, dean of the University of Iowa College of Business Admin istration in Iowa City, addressed the more than 60 bankers at the semi- Appointed in Estherville Joseph R. Simmens has been ap pointed executive vice president oL ! United Central Bank & Trust Com- ' pany of Estherville. Mr. Simmens has been employed at United Central Bank since 1982 as vice president. Prior to jo in in g I the bank he was executive vice pres^ dent at Farmers State Bank, Jesup and also served as a state bank ex aminer with the State of Iowa De partment of Banking for four andhalf years. Committed to making your bank stand apart from the st! DigitizedNorthwestern for FRASER Banker, May, 1984 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis nar. Speaking for the host bank at Iowa City were Nicholas T. De Leoi# j ardis, vice president-money manage ment, on “The Economy and Rates”; Richard Haug, vice president and head of auditing, on “Audit Signals for the CEO,” and John Curtis, v ic# | president, 1st Chicago Credit Corp., on “Asset-Based Lending.” A social hour and dinner con cluded each of the six seminars. Hills Bank and Trust To Expand It’s Main Bank Construction has begun on a 6,00( square foot two-story addition to the main facility of Hills Bank and Trust Company, Hills. The first floor of the addition wi]^j contain offices and secretarial space for the trust department and insur ance services of the bank. The pro ject will also increase the present bookkeeping area by more th a ^ 3,000 square feet. A conference room, storage room and additional area for future expansion will be lo cated on the upper floor of the addi tion. Completion of the project i# scheduled for September of this year. We were bankers before we becam e brokers... and that gives you the investm ent advantage. James I. Mackay, President (left) James E. Weiser, Director of Municipal and Public Finance (right) Member SIPC At AID Securities, Jim Mackay and Jim Weiser know what bankers want from their brokers. Honesty, sta bility, dependability and, above all, knowledge. ing, trading and distribution of tax-exempt securities and U.S. Treasury and Government agency obliga tions, in addition to managing fixed income portfolios, The kind of knowledge that only former bankers have...of your industry and your investment strategy. Knowledge you can trust. AID Securities can offer you services, including: Jim Mackay and Jim Weiser have more than 45 years of combined experience in commercial and investment banking. ■ Underwriting and dealing in midwest municipal bonds ■ Dealing in U.S. Treasury and Government agency obligations ■ Corporate finance ■ Portfolio analysis Mackay’s career includes sixteen years in finance, working in debt syndication and restructurings, leveraged buy-outs, mergers, acquisitions and both private and public placement of debt and equity securities. Weiser spent over thirty years with a Des Moines bank. He served as a Trust Officer, Trust Investment Officer and Vice President in the Investment Depart ment. Jim’s responsibilities included the underwrit https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ■ Complete brokerage activ Honesty, stability, dependability and knowledge. The investment advantages from Jim Mackay, Jim Weiser and AID Securities. Des Moines (515) 246-2000 Inside Iowa WATS 1-800-622-6609 ¡ 2 3 Securities AID Securities Corporation Suite 380, Capital Square 400 Locust Street Des Moines, Iowa 50309 Contiguous States WATS 1-800-247-4406 rThe ‘80s. “Our financial expertise and technological sa vvy w ill help you m eet the issues. Head-on David Van Lear, President & CEO, Norwest Information Services, Member Norwest Financial Institutions Team They’ve brought with them a myriad of technological advances. “And with those advances also come new problems, needs, and financial issues to face. “These are issues that include: • Is the size of my institution an appropriate consideration in selecting a system for future growth plans? • Does the trend toward bank consolida tions affect decisions on data processing needs? • What role should the personal computer or microcomputer play in the operations of my bank? • How do you effectively compare the true costs of an in-house computer system versus a service bureau or large correspondent data processor? • Will our in-house computer system be outdated next year? • How important will on-line communi cation terminals become with a major regional bank in the maturing age of electronic funds? • How does a technology relationship with a major regional bank decrease the concern for survival of community banks? • What is the linkage between traditional data processing and Asset/Liability Management? “These are pressing issues that Norwest Corporation, as a leader in correspondent data processing, is ready to meet. Head-on. “If you’d like to know just how Norwest is addressing them, contact Dee Theien at 612-372-8072 for a copy of “Technology Issues in Banking.” Members FDIC Financial Institutions Group H k H m mmmm NORWEST CORPORATION m am m a may mm https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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