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• Former USD A Secy. Clifford Hardin Suggests: Nine Proposals for ’85 Farm Bill • • • • • ® ^ ® M a y 2 0 ,1 9 8 5 D e s M o in e s , Io w a V o l. 1 4 N o . 5 P ORMER USDA Secretary Clif- to take up the slack. Unless reduc ■ ford M. Hardin appeared before tion programs are done jointly, they the Nebraska Bankers Association should be eliminated. 2. Eliminate the use of non 88th annual convention in Lincoln earlier this month and, after review- recourse loans. Under this program ing farm policy and results of the farmers receive a low-interest loan past few years, made “nine specific based on the announced price and proposals for enhancing U.S. par quantity of the commodity placed in ticipation in international markets.” storage. If the market price rises Dr. Hardin stated at the beginning above the loan level, the farmer can and end of his address that if the sell stored grain, pay off the loan U.S. will formulate “a consistent set and retain the profit. If the price of programs that will foster an drops below the loan level, they can orderly expansion of farm exports ... transfer ownership to the CCC and if the prospects for export growth are market prices stay down, govern bright. But if Congress continues ment stocks build up. Two flaws: 1. the pattern of past legislation, those The program invites excess produc tion. 2. High loan levels lead to CCC prospects are dimmed.” Dr. Hardin recalled that “during stocks costly to store and when the past year I have appeared on released can depress prices. 3. A bolish the farmer-owned several programs with three or four of the former Secretaries of Agricul reserve. The program has been a fail ture. The striking feature of these ure on nearly all counts; it has been presentations was the almost com costly to taxpayers, and its ex plete agreement by those of both istence was one of the reasons the political parties on what went wrong PIK program was deemed necessary in 1983. Any needed stocks should and what needs to be done.” Dr. Hardin offered more extended be purchased by the government in discussion of each of his nine pro the marketplace. 3. Expand export market devel posals. They are presented here, opment in cooperation with com with comments summarized: 1. Recognize that unilateral efmodity organizations. We need to forts to reduce world supplies of ex better understand the resources and port commodities are an open invita requirements of our export custom tion to producers in competing coun- ers. tries to expand their own production 5. Expand U.S. research and ex tension programs that will help farmers reduce costs. As farmers in other countries become more effi cient, they will become stronger competitors in world markets. De velopment of knowledge through re search has been a fundamental con cept of U.S. policy and must be con tinued if American agriculture is to continue to compete as a world class. industry. 6. Authorize the continued use of target prices—carefully and sparing ly. Supplementing farm income through target prices has one dis tinct advantage—it permits com modities to move through normal market channels. Two disadvanta ges: 1. If target levels are too high, it can be costly to taxpayers as in 1983. 2. It encourages farmers to plant more acres. Target prices should be regarded as a safety net only. 7. Crop insurance should be a high priority item on the 1985 legis lative agenda. In cooperation with private companies, the USDA should now be able to design a viable program. 8. Continue the availability of short-term credit to foreign pur chasers. 9. Make a strong policy state ment against the use of export em bargoes. Dr. Hardin was Chancellor of the U niversity of N ebraska from 1954-69. He served as Secretary of m ASK STAN FARMER to make MNB work for you. Toll free: 1-800-332-5991 M Merchants National Bank Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis is i A BANKS OF IOWA BANK 2 « k ff« mamma mamma Norwest Bank Des Moines, N.A. ' Serving bankers quietly and efficiently. Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS M em ber FD IC m axim a C A P IT A L P E R S O N N E L S E R V IC E 714 U.C.B. Building, 515-283-2545 Des Moines, iowa 50309 Teamwork: one of the reasons we’re first in Iowa. Tom Quinlin John Rigler Agriculture from 1969-1971. He then joined Ralston Purina Com pany in St. Louis as vice chairman and director of research. Since his retirement from that company in October, 1980, he has been Scholar in Residence at the Center for the Study of American Business at Washington University, St. Louis. □ Prime Drops to 10% Bankers Trust Company of New York on May 15 cut its prime rate by one-half of one percent to 10%, the lowest level for prime among ma jor banks since October, 1978. Sixmonth CDs were down from 9.6% in March to 8.75% in April. Fed funds in March were 8.58% and averaged 8.27% at the end of April. Bankers Trust expects the prime to stabilize or drop even further. Iowa News The Iowa Bankers Association and American Bankers Association will present a teleconference,4*Pric ing Strategically: The Challenge of Deregulation,” on May 29. It will be held at Des Moines Area Communi ty College, Building 6, Auditorium, from 10:00 a.m. to 3:00 p.m. with re gistration beginning at 9:30 a.m. Advance registration may be made through the IBA office in Des Moines, and includes lunch and re source materials. Cost is $115 for members, $150 for subscribers and $175 for nonmembers. GLENWOOD: W. Edward Thomp son, previously vice president of Mills County Bank, has been ad vanced to president. He succeeds Terry Geiger, who resigned recently to accept a position as president of Kearney State Bank, Neb. Mr. Thompson has served as vice presi dent the past eight years. STORY CITY: Story County State Bank was closed May 9 by Superin tendent of Banking Tom Huston due to ‘‘severe loan problems” that had exhausted the bank’s capital. As receiver, the FDIC accepted the high bid of $981,000 premium by SSB Bancshares Inc. of Mar shalltown, which opened a new bank May 10 as Story County Bank and Trust Co. SSB owns Security Sav ings Bank in Marshalltown. Ron Fenton, president of the Mar shalltown bank, is chairman of the new Story City bank, which as sumed $32.1 million in deposits and bought some loans and other assets worth $13.3 million. WEST LIBERTY: Brent Richard son has been elected vice president at W est Liberty State Bank. He was previously with the State Banking Department. CANNON FALLS: Kenneth J. Mara has joined the staff of the First National Bank as vice presi dent in charge of the lending func tion of the bank. He previously was At Security National Bank, w e’re people you can count on to handle all of your Correspondent Banking needs. So, start corresponding with us. We’re Security for you! Coim p oadtnt S tw lcti Officer 7 1 2 -2 7 7 -6 7 6 9 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ROCHESTER: John C. Mulder has been elected executive vice presi dent of First Bank Rochester. Mr. Mulder, who will serve as senior lending officer, m ost recently was vice president of regional credit for First Bank System ’s affiliates in southeastern Minnesota. The financial problem solvers. Minnesota News We’re Security for You Wilma Weeks with the Prairie City Bank of Prairie du Chien, W is., where he had been 15 years. MINNEAPOLIS: Marquette Bank Minneapolis has named Dennis F. Metzold vice president and manager of their Edina office. He previously served as vice president and man ager of the executive and profes sional banking department of Amer ican National Bank in St. Paul. SECURITY N A TIO N A L B AN K IN SIOUX CITY. IOWA. MKMBKR K.D.I.C. W h e n you h ave problem s streamlining operations, building profitability in your bank, m eeting your n eed s for b an kcard services an d loan participations or recom m ending quality investm ent portfolios, United Missouri Bank ca n help you. fc i U N ITED MISSOURI BANK Member FDIC g f K a V l S a S C l t ^ n .a . 10th and Grand • P.O. Box 226 Kansas City, Missouri 64141 (816)556-7200 3 Call on the “Experienced Professionals” Ready to meet your correspondent needs. Nebraska News BLAIR: Douglas Davidson has been appointed chief executive officer of the W ashington County Bank. MINDEN: Jim First National vice president. vice president tional Bank. Glenn has joined the Bank of Minden as He was previously at the Gering Na OMAHA: Packers National Bank has acquired control of Farmers State Bank of Rising City. In midApril Packers acquired the Bank of Taylor. According to officials at Taylor and Rising City, they had ob tained loans from Packers to acquire both banks, using bank stock as col lateral. When both banks ran into fi nancial difficulty because of farm loans, Packers took over the stock to cover the loans. Packers is required by federal law to sell both banks within two years due to the circum stances of the acquisitions. Illinois News EVERGREEN PARK: Kenneth J. Ozinga has been elected president of First National Bank of Evergreen Park. He will continue to serve as president of Clearing Bank and Oak Lawn National Bank as well. In ad dition, Martin Ozinga, Jr. was elected chairman of First National, succeeding Frank Ozinga, who has been designated honorary chairman. Martin Ozinga, Jr. will continue as chairman of Clearing and Oak Lawn ----------------------------------------- - KREJCI & ASSOCIATES • C o lle c tio n s /L o a n W o rk o u ts • C o lla tera l Liq u id atio ns • L oan Policy & P ro c e d u re • • • • D o c u m e n ta tio n /C o m p lia n c e B a n k O p e ra tio n s Pricing B a n k S e rv ic e s Perso n nel M a n a g e m e n t Available on an interim basis. More than 19 years experience. References available on request. ID KREJCI AND ASSOCIATES Flnancial/Management Services 12605 Southdale Drive Omaha, Nebraska 68137 (402) 895-6027 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ^ F ir s t N a tio n a l L in c o ln m s tr e e ts , u n c o m , n e eS5i“ “. National, as well as chairman and vice president and commercial and president of First Evergreen Corpo ag lending officer. ration. LANGDON: Gary W. Paulson has been elected chairman and chief ex South Dakota News ecutive officer of First Bank LangBRITTON: The South D akota don. He will continue to serve as Banking Commission has given ap president of First Bank Park River. proval to the Bank of Veblen to es tablish a branch in Britton. It is ex Estate Appraisals pected the office at 526 8th St. will open in June or July of 1985. Purchase of MILBANK: Dakota State Bank of Milbank has merged with Big Stone State Bank, with the Big Stone Bank now a branch of Dakota State Bank. Joanne Ross was promoted to vice president and managing officer of the branch, and Ralph Ramsey has been named vice president of Dakota State Bank. SIOUX FALLS: Don F. Waniata has been appointed vice president and manager of products and service for Norwest Corp.’s financial insti tutions group. He m ost recently served as senior vice president and director of marketing for Norwest Bank South Dakota and regional vice president of marketing and sales for the corporation’s Region VI office. Collections Sale of Rare Coins Reliable and respected service for over 20 years I 'sed by bankers throughout the midwest Ben £ . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 F IN A N C IA L PLACEM ENTS a division of BANK NEWS Call North Dakota News Larry Vohs DICKINSON: Gordon L. Bickle has been elected chairman of the board, president and chief executive officer of the First National Bank and Trust Company of Dickinson. He was previously chairman of the board, president and chief executive officer at First National Bank, Miles City, Mont. 816/421-7941 DICKINSON: A t Liberty National Bank and Trust Co., Ron Cascaes has been named senior vice presi dent and senior lending officer, and Jon Hendrickson has been named BANKING • LOANS Affiliated Midwest Bancs. — Progressive bank group seeking an aggressive commercial lender with solid lending background. Department head position In $70mm bank located In central Iowa. Salary commensurate with experience. Also seeking Individual with combined commer cial or agricultural and Installment lending experi ence for $40mm southeast Nebraska bank. Resumes In complete confidence to: AFFILIATED MIDWEST BANCS 100 AMERICAN PLAZA, BELLEVUE NE 68005. Job Openings Hiring the right person has a favora ble impact on your bank's earnings. Hiring that person through Financial Placem ents is the first step. O ur candidates are the best you'll find, and as it has been for 18 years, our cost to you is generally 30 % less than most of our competition. G ive us the opportunity to show you w hat w e can do. FINANCIAL PLACEMENTS, P.O. Box 13786, K.C., Mo. 64199 If you are Interested In a career move, mall your resume In strict confi dence to FINANCIAL PLACEMENTS, P.O. Box 13786, K.C., Mo. 64199, or call 816-421-7941. Financial Careers Buy Direct From Factory — and Save! POSITIONS AVAILABLE CALENDARS (1986) ADVERTISING SPECIALTIES COMMERCIAL LENDER - Central Iowa. 5 yrs. exp. To $40K. (Serving The Banking Industry Since 1947) Send Sample - Indicate Quantity - We w ill quote — You Be The Judge — Standard Advertising Service, Inc. Box 432 • Council Bluffs, Iowa 51501 WANT ADS— Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter a dve rtise rs cannot be revealed. NORTHWESTERN BANKER, 1535 Linden Suite 201, Dee Moines, Iowa 50309. Phone 515-244-8163. POSITION AVAILABLE VICE PRESIDENT-LOAN DEPARTMENT $40mm NW Iowa bank seeks candidate w ith 4-6 years ag lending experi ence. Good advancement opportunities. Contact John Bowen, EVP, Hawkeye Bank & Trust, Spencer, Iowa. Phone: 712/262-1940. (PA) SENIOR LOAN OFFICER for northwestern Minnesota bank, w ith assets of $13MM. Salary open. 6 to 8 years ex perience required in agricultural and commercial lending. Resume required. Contact Philip E. Stewart, P.O. Box 101, Badger, MN 56714._______________________________ (PA) CASHIER—$25 m illion Iowa State Bank, Fort Madison, seeks an individual w ith 3 yrs. experience in bank operation/accounting. Excellent opportunity. Contact James C. Sodey, President at 319/372-1134. (PA) #2 OFFICER— Northeast Nebraska bank. Commercial/Ag lending a must. Knowledgeable in all areas of banking. Capable of supervising people and promoting bank. Com petitive salary and benefits. Send resume, salary history and requirements to file WDE, c/o Northwestern Banker. _______________________________________________ (PA) COMMERCIAL LOAN OFFICER—Senior commercial loan and credit adm inistration officer needed for an indepen dent community bank in the heart of the Colorado Rockies. BS, 10 years commercial loan and credit analysis required. Strong business development background is a plus. Send resume and reference to president, P.O. Box 2390, Estes Park, CO 80517. (PA) Eastern Iowa bank seeking a self motivated individual with 2-5 years loan experience. Available position w ill focus on AG LOANS but w ill also include commercial, real estate, consumer loans, and collections. Excellent opportunity, good benefits. Send resume and salary requirements to file WDF, c/o Northwestern Banker. (PA) AVAILABLE POSITIONS EXECUTIVE OFFICER - Small institution seeks good strong ag person who is a career maker. Cash flow and clean up work a plus. Salary, performance bonus and pur chase option make this an excellent spot for the indiv who is ready to take on a rewarding challenge. $35K + . LOAN OFFICER • Successful MW $50mm resort area bank seeks sales oriented, go-getter w ith 5 + yrs exp. Real estate and commercial lending w ill be primary focus of this top-level, highly visible position. $30K. COMMERCIAL LENDER - Key market bank w ith $80mm + footings is looking for an indiv w ith 3-5 yrs exp in commer cial loans and a 4 yr degree. $25K + . MORTGAGE LENDER - Visible spot for good mortgage person w ith consumer lending skills. Healthy portfolio in a growing bank makes this a prime oppty for stability ori ented indiv. $28K. VP/SR LOAN OFFICER - Large institution in capital city lo cation offers excellent oppty for exp ag officer. Depth of exp and knowledge of ag loan problem solving are manda tories. Desire for #1 spot is also a key to this lucrative posi tion. Mid-$40’s. AG LENDERS - West Iowa. 2-3 yrs. exp. To $25K. COMMERCIAL LENDER for $100 m illion bank in midwest. Prefer college grad with loan review e x p e rie n c e ................ ............................................................................Salary $40,000 AG LENDERS - E. Nebr. & Central IA. 3-4 yrs. exp. To $30K. COMMERCIAL/AG LENDER for $65 m illion midwest bank ............................................................................ Salary $45,000 CEO - East Nebr. $35 m ill. bank. To $60K. CEO needed by purchasers o f $35 million bank in town of 2,000. Incentive and future opportunity . . . . Salary $35,000 MORTGAGE LENDER #2 - Several years in resi dential homes, some management experience. Omaha bank. To $35K. AG LENDER for $70 m illion bank in m id w e s t....................... ............................................................................ Salary $35,000 Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We're Nationwide FOR SALE DIEBOLD TABS 910 ATM w ith or w ithout building. Current ly on maintenance contract, low usage, excellent condi tion. Contact First National Bank, Minden, NE 68959. Phone 308/832-2030. (FS) TWO (2) DIEBOLD MODEL TABS 910 AUTOMATIC TELLER TERMINALS, one stand alone and one thru-the-wall unit. Fully equipped w ith audit trail printer, alarm linings and devices, Read trac 1 & 3, Burroughs TC500 Expanded Fit Software, DES Inscription, 2716 Prom Set, Revision Level 7; under maintenance contract. Excellent condition. Con tact Harry Easley, SALEM NATIONAL BANK, Salem, IL (618/548-2200). (FS) OMAHA NATIONAL BANK 17TH & FARNAM STS., OMAHA, NE 68102 AND C O ^ ASSO CIATES ir "S u c c e s s fu l B a n k in g is Q u a lity P e r s o n n e l" Send your resume or phone Don Schooler, 417-882-2265, 2508 East Meadow, Springfield, Missouri 65804. POSITIONS CURRENTLY AVAILABLE EXECUTIVE VICE PRESIDENT $150mm bank, strong lending & operations ...........$70,000 Metro HEAD OF LENDING $80mm bank, $40mm loans, $20mm C om m e rcial.................... $50,000 Outstate SENIOR VICE PRESIDENT, HEAD OF COMMER CIAL & CORRESPONDENCE LENDING, $200 + mm bank, $100mm in lo a n s ..................... $70,000 Metro FOR SALE DATA POINT EQUIPMENT 1804 Processor W/ IMB Disk 9622 Para Matrix Printer 9462 M ultiport Comm. Adaptor 9022 Auxiliary I/O Power Supply 3 - 8200 Data Stations 1565 Processor 9621 Serial Printer 5151 Keyboard 8220 CRT terminal 9628 Serial Printer 6 - TA1800 Data Sets 3 - TD832 Display terminal W/TD015 keyboards Contact Ruth Gullinger Monmouth Trust and Savings Bank 100 S. Main Street Monmouth, III. 61462 Phone (309) 734-8585 B A N K IN G O P P O R T U N IT IE S COMMERCIAL LOAN OFFICER—$200mm N. Da kota bank. 4 yrs experience required. W ill handle a $15mm portfolio. Salary high $30’s. Contact Pamela J. Swenson. INSTALLMENT LOAN OFFICER—$60mm Mis souri bank near Kansas City with one handle $10mm portfolio. 3 yrs collection experience and light lending required. Salary $18-20K. Contact Pamela J. Swenson. OPERATIONS MGR— in $20mm northern IL bank. Near college. $25-35K. Contact Barbara J. Ritta. AG LENDER—$100+ mm metro SD bank. Growth bank. 3-5 yrs ag lending needed. $25-30K. Contact Barbara J. Ritta. PROFESSIONAL RECRUITERS, INC. P.O. Box 24227 Omaha, NE 68124 Phone: 402/397-2885 BANK POSITIONS PRESIDENT new charter, excellent location, stock options ............................... $40,000 Outstate REAL ESTATE LOAN - large suburban bank. AVP to handle construction, commercial and some single fam ily residen tial loans. $25K CASHIER $80mm bank, solid c o n d itio n ................ ....................................................... $30,000 Outstate FOR FURTHER INFORMATION FOR THESE AND OTHER POSITIONS RESPOND IN CONFIDENCE TO: M. KURT ROSENCRANTS AT (515) 244-4414 REAL ESTATE LENDER $50 + mm b a n k ................ .......................................................$35,000 St. Louis ALL FEES COMPANY PAID EXECUTIVE VICE PRESIDENT for Central W isconsin bank. Requires strong commercial lending background ............ ............................................................................Salary $40,000 PRESIDENT $40mm suburban bank, no ag .......... ..............................................................$50,000 Metro COMMERCIAL LENDER $100mm bank, Manage ment potential ...................................$40,000 Metro 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 RE-COMMERCIAL LOAN OFFICER for Central Iowa bank. Requires 3-5 years experience ..................... Salary $30,000 BURROUGHS EQUIPMENT AG LOAN OFFICER Omaha National Bank in Garden City, Kansas, seeks an agribusiness expert to develop new busi ness, m aintain bank portfolio and service custo mers. Qualified candidates should have 3-5 years experience in all phases of lending and bank oper ations, w ith an emphasis in livestock and crop production. A degree in finance or related area, the ability to com m unicate effectively and strong marketing skills are required. If qualified, submit resume and salary history to: don • S chooler COMMERCIAL LENDER w ith tw o years experience for bank in city of 35,000 ..................................... Salary $30,000 Write or call Malcolm Freeland or Cy Kirk in care of Freeland Financial Service, Inc., 1010 Equitable Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. PRESIDENT • MW holding co seeks CPA w ith prior bkgd in acquisitions to head up their ultra-aggressive flagship bank. If you are a go-getter who is looking for high com pensation and astrong future, this position is it. Co will pay for the right bkgd. $60-120K. ROBEftTHALF CEO for $50 million mid-west b a n k .............. Salary $60,000 JU NIO R C O M M E R C IA L LENDER, CREDIT ANALYST consumer experience $23,000 Outstate COMMERCIAL LENDER $50 + mm bank, top loca tion, sound management .. $40,000-$45,000 Metro This is one of the finest selections of positions I have had. Every situation is personally known and the banks and management offer good reputa tions. COMML LOAN - $50MM suburban bank. Some R.E. experi ence helpful. Requires 2-3 yrs. bank lending. $26K EVP - manage all lending activities for $125MM suburban bank. Opportunity to assume #1 position. $55K AGRI-LOAN - $30MM community bank. Handle all Ag cred its and some commercial accounts. $30K SECOND OFFICER - small suburban bank desires com mercial lender to supervise junior officers. $35K Additional opportunities available. All inquiries confidential. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 14 No. 5 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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