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perform ‘what if’

Banker’s wife
takes bull
by the horns

• IBAA Elects New Officers in New Orleans
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
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


Member F.D.I.C.



In a quandary over
the FDIC regulation
on brokered deposits?
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InnerLine’s Funds Marketplace.

worth of CDs. Because the spread between the top
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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
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Issuers, too, can benefit from InnerLine because
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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
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For example, a spread of only 10 basis points trans­
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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.

Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984


N ationet Elects
O fficers for 1984


HE BOARD of directors of N:
tionet, Inc. has announced th
election of new officers for 1984.

/ J 5 0 H K îV
MAY 1984


91st Year


No. 1448


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.



W hat’s New

Manufacturers, service companies describe products


Electronic spreadsheet

Neil Stadlman shows how micro offers “ what if” usage


I BAA convention report

Montana’s Jack King installed as new president


Colorado convention program
You Will See Them at the 83rd
Annual Colorado Convention


Bank Promotions
Corporate News

36 Twin Cities
45 South Dakota
46 North Dakota
47 Montana
48 Wyoming
55 Nebraska


Des Moines

306 15th Street, Des Moines, Iowa 50309

Phone (515) 244-8163

Publisher & E ditor

A ssociate Publisher

A ssociate E ditor


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
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.


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
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.

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.
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*
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
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

We are what you want a correspondent bank to be.


Federal Reserve Bank of St. Louis

M e m b er F D IC



Convention Calendar

North Dakota:

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,
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,
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
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
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

June 7-9—CBA Annual Convention, The
Broadmoor, Colorado Springs.

May 20-June

ate School, 2nd Session, Rodeway Inn
Overland Park, Kansas.
Oct. 14-19—Schools of Banking Advanced
School, Regency West, Omaha.


for FRASERBanker, May, 1984
Federal Reserve Bank of St. Louis


School, Southern Illinois University,
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.

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
July 8-12—Outward Bound, Vernal, Utah.
July 19-21 —Iowa Independent Bankers An­
nual Meeting & Convention, The New Inn,
Aug. 19-25—Commercial Lending School,
Sept. 16-18—IBA 98th Annual Convention,
Des Moines.
Oct. 23-24—Consumer Lending/Retail Bank­
ing Conference, Des Moines.

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.

May 24-25—MBA Trust Conference, Heri­
tage Inn, Great Falls.
June 26-29—MBA Annual Convention, Big

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
Sept. 19-21 —Independent Community Banks
of North Dakota Annual Convention, Kir
wood Motor Inn, Bismarck.
Sept. 24—NDBA Northeast Group Meeting,
Sept. 25—NDBA Northwest Group Meeting,
Sept. 26—NDBA Southwest Group Meetin
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
July 5-7—Dakota Bankers Centennial Con­
vention, The Broadmoor, Colorad
Aug. 9-10—Independent Community Banks
of South Dakota Annual Convention, Cus­
ter Park, Sylvan Lake.
Sept. 17—Group 5 Meeting, Holiday Inn,
Sept. 18—Group 3 Meeting, Holiday Inn,
Sept. 19—Group 1 Meeting, Westward Ho
Country Club, Sioux Falls.
Sept. 20—Group 2 Meeting, Lantern Inn,
Sept. 21—Group 4 Meeting, Mobridge
Country Club, Mobridge.
Oct. 11-12—SDBA Instalment Credit and
Retail Banking Conference, Sioux Falls.

June 10-13—WBA Annual Convention, Hyatt
Regency & Mecca, Milwaukee.
Sept. 16-18—Independent Bankers of Wis­
consin Annual Convention, Radisson
Hotel, LaCrosse.

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


* '* * * "

“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)

First Chicago

Cleveland.— Dallas—Denver— Houston—Los
Angeles—Miami—New York—San Francisco—
Washington, D.C.

The First National Bankof Chicago


ThomasM. King
Community Banking

PlSlip H. y Britt. / Illinois Banking

0 1984 The First National Bank of Chicago. Member F.D.I.C.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984
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
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
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
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

Northwestern Bell
The Information network
Federal Reserve Bank of St. Louis


Bank Promotions
ROMOTIONS and other an­
nouncements have been made
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
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
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
Federal Reserve Bank of St. Louis


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
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
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-^
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-


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.

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
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984


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


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

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
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
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.


Rennington College and a law de­
gree from the University of Duques#

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#
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.


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
PHONE: (402) 397-1111
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984


M GIC Survey Shows ARM s Gaining
ORE borrowers in the North
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
environment and analyze lenders’
With lenders in
perceptions of the marketplace. The
North Central regional survey in­
the 10-state re­
gion projecting
executives from savings and
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
“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
“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

Federal Reserve Bank of St. Louis

^regional lending institutions, borro­
wers typically will have a selection
of two or three standardized ARM
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
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

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
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

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

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
Federal Reserve Bank of St. Louis

47th & Ashland Ave., Chicago, IL 60609 • 1-312-927-7000.


ROMOTIONS and other an­
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
named to the new­
ly-created post of senior marketing
associate for Bank Building Corpo­
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
ducts and services to the financial
Bar cl ays /Am eric an /Bu sin es s services industry.

Northwestern Banker, May, 1984
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
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
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
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
(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
ticipation in MABSCO Agricul­
t u r a l Services, Inc. (MASI) was re­



•¡Continued from page 18)
Lark, Rocky Mountain district, and
Frederick Madeira, New England

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.,
Mr. Jorstad has
•>een active in sales work. LeFebure
is a major manufacturer of security
Federal Reserve Bank of St. Louis



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

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
the firm to organize The Financial
Products Group, formerly a division
of the former firm, as a separate cor­
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


What’s New
OMPLEX financial analyses for
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
“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
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^
A training
teaches financial em­
2 2

Taming The
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
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.


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.

of Kansas C ity n.a.
United we grow. Together.
10th and Grand • P.O. Box 226
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984


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
• Mobile Homeowners Insurance

G.D. van Wagenen Company . . . Your Collateral
Protection Specialists, with offices in Cedar Rapids,
Phoenix, Minneapolis, and Denver.

G.D. van Wagenen
P.O. Box 1902
Cedar Rapids, IA 52406
(319) 362-2923
524 Plymouth Building
12 South Sixth Street
Minneapolis, MN 55402
(612) 333-2261
Minnesota WATS:

So give me a call. I'd be happy
to visit with you personally and
discuss your collateral insurance
Invest a few moments now . . .
I'll give you great service
for years to come.
Dave Hansen


Banker, May, 1984
Federal Reserve Bank of St. Louis



.Electronic spreadsheet ...
... offers rapid-fire “what if” calculations

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
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.
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


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









$. 00


$ 1 , 0 0 2 . 13





























Northwestern Banker, May, 1984
Federal Reserve Bank of St. Louis

AT F5 =
AT G5 =
AT A6 =
ROW 16 =










$ . 00


= = == == == ===:==========


$ 1 , 0 0 2 . 13
$ 3 , 2 5 3 . 5i
= = == == == ==:===========



--------p ---------y < --------g --------->















ROW 10




$. 00



















•Í --------A---------> < --------B-------- > < --------C---------X ---------D-------- X


( B 5 + C 5 - D 5 ) * ( ( E 5 / 1 0 0 ) / 3 6 5)










< 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
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

How to Put the “Finger”
On Computer Crime
• 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
• Patients records in hospitals
subjected to tampering.
• College students invade univer­
sity and government “top secret”
files to win bets.
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


•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 &
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.
Federal Reserve Bank of St. Louis

• Equipment Dem onstrations
• A pplication S olutions For All Lines Of Business And
• Unique System S olutions
8:00 AM - 5:00 PM


PHONE (515) 223-3330

f *1


Northwestern Banker, May, 1984


Sign up now for a

Free #
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

□ Fixed Asset Accounting
□ Loan Origination & Document
□ 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

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.

. Position.

Address _



Our Micro is a.


I am most interested in.

Or call (203) 655-6832

Darien MicroSystems, Inc

Banker, May, 1984
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! ’’


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
June 20-21—Omaha, Holiday Inn.
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
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-



Plattsm outh Banker “ Marks Tim e” in a Big Way!
HEN David J. Duey retired recently as president
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
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
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
According to Mr. O’Connor, Ver­
sion 5.0 is the only graphics pro­
gram to offer the user seven pages of
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
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
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.


Computer Based Solutions, Inc.
3390 Peachtree Rd., N.E.

Suite 1148
Atlanta, GA 30326
Northwestern Banker, May, 1984


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
Associate Publisher
EMBERS of the Independent
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
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.

Banker, May, 1984
Federal Reserve Bank of St. Louis


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
. 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
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
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
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


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
Federal Reserve Bank of St. Louis


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.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984

Trust Corporation, stated, “We a r ^
pleased with the wide acceptance or
Northern Trust Brokerage by perso­
nal and correspondent bank custo­
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.

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
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

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

for FRASERBanker, May, 1984
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.
* * *
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.


Citizens to Adopt
First Interstate Name

W BA Elects 1984-85 O fficers
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
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
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.
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
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
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

Banker, May, 1984
Federal Reserve Bank of St. Louis

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.



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,
The School of Banking is one of 12
• schools nationwide to be affiliated
with the American Bankers Associa
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.
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
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
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
chairman of the board of Norwest
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


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.



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
charge of the re­
tail division and
F&M Marquet­
te ’s Southdale
and Brookdale
detached facili­
Before joining
F&M Marquette,
Mr. Laing was
president of Marquette Bank and
Trust Company in Rochester, and
prior to that he was president of

Northwestern Banker, May, 1984
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.
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
have been named vice
by First Bank Minneapo­
Mr. Meadley
has headed Na­
tional City’s in­
vestment depart­
ment since he
joined the bank
in 1970 and is
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.




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

Together, we’ll frame an answer that will
improve your profit picture. Call us at:(612)

First Bank Saint Paul
Member First Bank System

Investment Services Group
332 Minnesota Street
Saint Paul, Minnesota 55101
A Full Service Bank
Federal Reserve Bank of St. Louis

Member FDIC


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.



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
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
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
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-













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





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.

We’ve been there since 1917.
We’ll be there for you.

CALL TOLL FREE: 1-800-437-4680
Federal Reserve Bank of St. Louis


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

from First Interstate Bancorp.
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 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
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
m arketfor
a re th ro u g h o u t o u r sys­
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
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





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
Capital Savings
and Loan in Lac­
ey, Wash. Prior
to joining First
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
* * *

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

Little Falls Addition Told
Timothy J. Byrnes has joined
First National Bank, Little Falls, as
cashier, respon­
sible for bank
operations and
Mr. B yrnes
comes to First
National from a
similar position
at Union State
Bank, Winterset, Iowa. He is
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

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
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
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



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
A sum of $489,500 was awarded

Northwestern Banker, May, 1984
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


Associate Publisher


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
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
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
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
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


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.



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
Northwestern Banker, May, 1984


Minnesota News


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
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
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


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
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.

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
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
Mr. Palmatier joined First Bank
Madison in 1980 as an ag loan repre­
Mr. Johnson joined First Bank
Lemmon in 1972 and transferred to
Sturgis in 1977. In 1982 he was
^ Mr. Loftesness will be serving in
vice president.
the operation’s department and Mr.
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

Canton Election Announced
John M. Ripley has been elected
♦assistant vice president at the main
bank office of First American Bank,
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
Federal Reserve Bank of St. Louis

Huron Employee Honored



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
Northwestern Banker, May, 1984


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
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
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
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

Northwestern Banker, May, 1984
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
P ie rso n ,
Mr. Adams is
a partner in Tri­
ple Adams Farms
located in Bot­
tineau and Ren­
ville counties,
and also has farming interests in
Mountrail county.

Fargo Officer Named

southern North Dakota banking af-#
filiates fo First Bank System, Min­
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
s e n tin g m ore
than 100 companies writing over
$400,000,000 in crop insurance pre­
miums throughout the United
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
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
ship with the East Asiatic Company
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.

sponsorship of a loan documentation
workshop including analysis of Ar­
ticle 9 of the Uniform Commercial
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
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
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.
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
Bank, Billings.
Western Bank of Chinook,
N a tio n a l. He
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
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
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,
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.
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
that five of the people he has hired
MBA ■AIB Education
and trained have gone on to become
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.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984


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

Banker, May, 1984
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^
Western State Bank will employ
ecutive vice president and of Barba­
ra J. DuBard to vice president and
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
and chief executive officer
president in loans since that time.
Bank, N.A. - Rock
Ms. DuBard started with the
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
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
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.
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.





Vice Pres.

83rd Annual

Colorado Bankers
Association Convention
June 7-9
Broadmoor Hotel
Colorado Springs


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.
Wednesday, June 6
8:00 Special early registration, lobby of Colorado
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
9:30 Fitness and Aerobics, Broadmoor Main Ball­
Federal Reserve Bank of St. Louis


Exec. Manager

11:00 Women’s Mixer Golf Tournament, Broadmoor
Golf Club.
Tours-North American Air Defense and Colo­
rado Springs Olympic Center, (times to be an­
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
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.
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
8:30 Registration desk and exhibits open until 11:00
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


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.
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

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.
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
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

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;




■-;i ^
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
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.
Mr. Garofalo is vice president and
regional manager of the Siteman Or­
Six Promoted At

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.



J -


of D enver

The Better Bankers.
1515 Arapahoe Street/Denver, CO 80292
Federal Reserve Bank of St. Louis

i (303) 893-3456/Member FDIC.



Colorado News

Pueblo Addition Told
Lloyd V. Clemmer, Jr. has joined
Affiliated First Colorado Bank of
Pueblo, N.A. as vice president and
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

Denver National Appoints
Three As Vice Presidents
Denver National Bank recently
announced the appointment of the
following indivi­
duals to vice
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,
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
Mr. Bashaw is vice president in
charge of commercial business de­
velopment. He joined United Bank
in 1975 and has experience in com­
mercial banking and business devel­ joins Denver National with 28 years
of municipal bond experience, most
recently with Quinn & Co. brokerage
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

Banker, May, 1984
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
The new company will be called®
First National Bancorp., Inc. and
will be headquartered in Denver,
with 44 affiliate banks throughout
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
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.


banks need a
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.

We make big ideas happen.
17th and Champa, Denver, Colorado 80202

Member FDIC
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.”


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
Federal Reserve Bank of St. Louis

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
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
ty population of 13,500. One other
Blair Bank As An Office
For President-Elect:
is in Blair, Washington County
Omaha National Bank on April 23
® Roger L. Weiss, chairman and
It has deposits of $64,197,000
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.
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
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
assumed immediately upon deter­ over these duties
At the time this issue was
of its illiquid position so from James H.
going to press, the Nebraska
of depositors are pro­ Moylan of Oma­
Bankers Association was hold­
said there were ha, who will con­
ing its Annual Convention at
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,
orthw est ­
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.

Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984


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
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
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
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
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
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.
* * *





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
ford C. Neberofficer of Omaha
gall to financial institution officer.
Ms, Ware has been with Norwest
O m aha N a ­
Bank since 1977 and is manager of tional, Nebras­
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 #
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
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-



Gerry Tomka

Tom Jensen

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
Federal Reserve Bank of St. Louis

of omaha
M e m b e r FDIC

Northwestern Banker, May, 1984

Nebraska News
tural loan officer for the bank in
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
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
patrick, Pettis, Smith, Polian Inc. as
and has
vice president in
its Omaha office.
KPSP, an invest­
since 1982. He has a BS degree in
m ent banking
and finance from the Uni­
and securities
«i '
« v -' i
Nebraska at Omaha.
brokerage firm,
* * *
is an affiliate of
Mutual of Oma­
Eight Buddy Bears were recently
ha with offices in
presented to the principal at Bryan
L in co ln
High School by John R. Cochran,
president and CEO of Norwest Bank
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
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,
Other planned activities include:


for FRASERBanker, May, 1984
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)/
Norwest Bank Omaha South,
N.A. (6), $163,175,000.
Norwest Bank Hastings, N.A. (7W
Norwest Bank Omaha West (10),
Norwest Bank Norfolk, N.A. (26),
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.


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,
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
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
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
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
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
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

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

M icky Krupinsky

John Fleming

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
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


Northwestern Banker, May, 1984


Promoted in Scottsbluff

ILBUR H. Baack, executive
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
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
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
for FRASER Banker, May, 1984
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
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
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
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.
13th and M Streets • P.O. Box 81008
Lincoln, NE 68501 • Phone (800) 742-7462
Member, F.D.I.C.
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984


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.

W ith us
Des Moines, Iowa 50304
Member FDIC, Federal Reserve System

Banker, May, 1984
Federal Reserve Bank of St. Louis

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

June 17-22 Dates For
Iowa School of Banking
farm management area. Prior to
the bank in December of last
The National Bank of Waterloo
was a field agronomist with
has announced the following addi­
Lakes, Inc. in Readlyn.
tio n and promotions:
has been promoted to
Everett Brown has joined National
officer. He joined
Bank as a vice president of corres­
in the accounting
pondent bank­
ing. Mr. Brown
Wayne Vander Tuig has been pro­
t a s 20 years ex­
to operations officer.
perience in bank­
ing, first with
Cy Kirk Leaves UCB, Joins
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.,
in the bank­
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
Tim Brodahl was promoted to as­ United Central
sistant vice president and trust of­ Bank of Des
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


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
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
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


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
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
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


Northwestern Banker, May, 1984
Federal Reserve Bank of St. Louis


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


Member Federal Reserve System and Federal Deposit Insurance Corporation
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.
Federal Reserve Bank of St. Louis




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

Vernon Hoskinson
Vice President and Manager

(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.
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.


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
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




Northwestern Banker, May, 1984
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
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 ,
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.



the time,
and his family
rthing. Including
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,
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
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.

400 Financial Services Building/508 Tenth Street
Des Moines, Iowa 50308

Northwestern Banker, May, 1984


Iowa News

Acquires City National


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
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

Sioux City, Iowa 51101 Member F.D.I.C.

Northwestern Banker, May, 1984
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#
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
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.
Federal Reserve Bank of St. Louis


Iowa News

For Correspondent Bank
services, there’s a big
advantage to working with
Valley Bank’s Professional
In fact, there
are two.

Waterloo Bank Announces
Promotion and Additions


Peoples Bank and Trust Company
of Waterloo has announced the promotion of one of­
ficer and the ad­
dition of two
Henry E. Edsill has been pro­
moted to assis­
tant vice presi­
dent and trust
officer. He joined
the bank as a
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.


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

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

Member FDIC


Discover the Valley advantages.
Call TOLL FREE (800) 622-7262 (Iowa, only).
Digitized Northwestern
for FRASER Banker, May, 1984
Federal Reserve Bank of St. Louis


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.

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
Mr. Rourick,
who will primari­
ly be working in
the tru st area
and developing
an estate plann­
ing assistance
service, most re­
cently was with
Federal Land Bank of Omaha.


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.
Gary Stevenson



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.



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:


Merchant and consumer services for both
MasterCard and Visa.



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
Federal Reserve Bank of St. Louis

Northwestern Banker, May, 1984


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
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
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 #
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

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

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
• 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.”
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

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Northwestern Banker, May, 1984

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
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
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

Northwestern Banker, May, 1984
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
pany and will
also be responsible for directing the
strategic and long-range planning
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.



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
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
Ms. Rivers who attended South­



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-

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
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
* * *
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-


Federal Reserve Bank of St. Louis


Lamoni National Bank
Hosts Ag Day Seminar






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
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


Iowa News





: !1 €


^ "Ii BpBI



s 1I I

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
presented recently by First Na­
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

for FRASER Banker, May, 1984
Federal Reserve Bank of St. Louis

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
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.

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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
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

Jim’s responsibilities included the underwrit­
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.
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(515) 246-2000

Inside Iowa WATS

¡ 2


AID Securities Corporation
Suite 380, Capital Square
400 Locust Street
Des Moines, Iowa 50309
Contiguous States WATS

rThe ‘80s.

“Our financial
expertise and
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
• 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
• What is the linkage between traditional
data processing and Asset/Liability
“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 am m a
Federal Reserve Bank of St. Louis