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F Vol. 13 No. 5 Des Moines, lowa May 21,1984 At Nebraska Convention: Clayton Yeutter Says ‘ 84 Farm K ey “ Is N ot M aking M oney, I t ’ s Surviving” HE GENERAL agricultural out look “ is not very encouraging. There is light at the end of the tunnel in the long run, but it will still be tough in the short run.” V , That was the capsule assess ment of the cur rent farm out look given by Dr. DR. C. YEUTTER Clayton Yeutter at the 87th annual convention of the Nebraska Bankers Association in Lincoln in early May. Dr. Yeutter, a native of Eustis, Nebr., where he still owns a family farm, is president and chief executive officer of the Chicago Mercantile Exchange and is considered to be one of the leading ag authorities in the nation. Further in his talk at the NBA, Dr. Yeutter stated, “ The key in 1984-85 is not making money in ag riculture, but surviving,” and he be lieves that will be accomplished through teamwork between profes sional, astute farm operators and their local bankers. He continued by saying, “ The deterioration in cash flow and net worth will probably put greater pressure on bankers and farmers next winter than it did this T past winter.” Dr. Yeutter praised the domestic demand as “ the bright spot. W e’re in the midst of a very healthy economic recovery. Indica tors are very strong. A healthy econ omy is favorable to demand for food. People have money and they’re out spending it.” On another front, Dr. Yeutter stressed that employment figures show how well the American econo my is doing in relation to other na tions. “ Ten European nations have lost three million jobs in the past 10 years,” he said, “ while Japan has created three million more jobs. But, the United States has created 15 million more jobs in the past 10 years. The entire net gain is in small businesses—none of it is in com panies like GE and GM .” Dr. Yeutter said “ we’re still pay ing the price of the Carter embargo” in foreign demand, along with a strong U.S. dollar. He hopes for China to offer a bright spot in the ex port markets for American grain, because he expects “ no significant increase in prices” domestically. “ All we can hope for is bad weather elsewhere,” he said ruefully. New directions for farm policy may be established in 1985 when present farm policy expires within the federal government. Dr. Yeut ter’s organization is currently pay ing for research being done by the American Entrepreneurial Insti tute, which is to have proposals for farm policy ready this fall to be pre sented to national leaders. “ A l though we don’t know what will be in any list o f suggestions,” he noted, “ I would say that a farm program of the future will have a substantially reduced ticket price—there’ll be no more big PIK programs. They’ll be more market-oriented. We won’t be able to have farmers sell grain to the government—at least at the high prices we’ve had so far. The dairy program will be sharply curtailed in 1985. A substantial number of dairy producers won’t survive the 1980s. These subsidies we now have can’t go on. “ To have a healthy American ag economy, we must become a domi nant exporter. We don’t have the bodies here in this country to sup port American agriculture. A na tional priority should be promoting exports. Our ag exports have been declining and we’d better find out how to turn this around. “ For example, in beef we must ag gressively compete for market share, even if it cuts into the share of Cana da and Australia. We badly need a new round of GAT negotiations. I t ’s time we had this with other coun tries. This will come up at the Eco nomic Summit meeting in two months in London because we’ve made sure it’s on the agenda. We SPRENGER, ROWLAND AND Getting MESSINA it done for you. /¿St ^ Bill Sprenger Frampton Rowland John Messina 234-2Ò25 234-2625 234-2485 234-2486 Commerce Bankof Kansas atyA MEMBER FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Tplpnhnna Telephone /R1A\ (816) 234-2000 w 2 Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 NORMTEST BANKS Member FDIC "Teamwork: one o f the reasons we're firs t in Iowa. vM Dennis Nahnsen Tom Qulnlin have to take a whack at this with other nations and keep up the pres sure. If we falter, our own American agriculture will suffer more.” Dr. Yeutter continued, “ We in agriculture have to assert ourselves with Congress to be against curtail ing of foreign imports, like textiles. This hurts our soybean exports to China. The United States has had a long-time hang-up about long-term agreements, except for Russia, but we have to be pragmatic. While we’ve sat idle for five to six years, we’ve let Australia, Argentina and others negotiate long-term deals with our customers. “ Also, in the export arena, we see the need for refinancing of LDC pur chases. We must meet these credit needs or we won’t be able to sell ■ B O B P II m B liKmmEÊÊÊÊÊÊtmJiw m ftW- them. “ The best thing we can do to gen erate business down the road is to keep our economy going. If we don’t keep the engine running, then for eign nations won’t recover either. The deficits must come down. Here I go back to my long-term point— farmers must be good marketers! They like to be good farmers, but they must be good businessmen. “ The key in 1984-85 is not making money in agriculture, but surviving. If you don’t work with your cus tomers, they won’t survive. Flexibil ity is a key. Keep them flexible. Help them to know how to manage their risks, as well as yours. If you learn how to use futures for risk manage ment for your bank, then you can better teach your farmers how to do the same. Cattle, hogs, com and wheat options will be available in the next few months as an addi tional risk management tool. What good does it do to foreclose? There are no borrowers out there anyway. I know you can’t keep all your bor rowers, and some will fail in our kind to make MNB work for you. Toll free 1-800-332-5991 Two teleconference workshops will be held the end of this month at ten locations around the state. A Lien Law Workshop will be held May 29 and a Public Funds Work shop is set for May 31. Thomas E. Salsbery, senior partner in the law firm of Davis, Hockenberg, Wine, Brown & Koehn, Des Moines, will present the Lien Law Workshop with Randy Steig, executive director of the Iowa Bankers Association, answering questions on implementation and review forms. Frank Camp, with the same firm, will address the Public Funds workshop, with Randy Steig answering questions. For more information and regis tration contact Judi Carber at the Iowa Bankers Association. Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 151 A ‘BANKS OF IOWA' BANK “ BUSINESS SOLUTIONS FOR THE 80’s” AN INFORMATIVE AND ENJOYABLE MEETING FEATURING: Equipment Demonstrations • Unique System Solutions Application Solutions For All Lines Of Business And Industry TUESDAY, JUNE 5TH • WEDNESDAY, JUNE 6TH 8:00 AM - 5:00 PM THE DES MOINES MARRIOTT HOTEL 700 GRAND AVENUE • DES MOINES, IOWA 50309 1025 ASHWORTH RD, SUITE 500 • WEST DES MOINES, IA 50265 PHONE 223-3330 S % # ® _ ® ^ ^ ^ q ALB I A: Charles Wray has been pro moted to vice president of Peoples National Bank and Trust Co. Mr. Wray has been serving in the bank’s Eddyville branch office. # PLEASE CONTACT: BURROUGHS CORPORATION M erchants National Bank f Iowa News PRESENTS &i 2 m & * w m ASK JE R R Y TR U D O of system.” In closing, Dr. Yeutter stated, “ I expect these bad times to bottom out next winter. There may be more problems then, but agriculture should improve in ‘85 and gradually improve through the rest o f the ‘80s—not like the glory days of the ‘70s—but at least better than more recently. Hang in there. Be good bankers! I wish I could bring better news, but living through these times will make us better farmers and better bankers.” □ A T T ’N D IA N A HEITHOFF OR M IKE BAR SE M A “ COMMITMENT TO EXCELLENCE” CALL ON THE “PERFORM ANCE TEAM199 where common transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln. Nebraska 68501 • Member, F.D.I.C. ANKENY: Dale C. Froehlich has been elected president and chief ex ecutive officer of Ankeny State Bank. He replaces Dean E. Minor who resigned to accept a similar po sition in Lompoc, Calif. Mr. Froeh lich previously served as vice presi dent in the correspondent bank divi sion of Merchants National Bank, Cedar Rapids, for five years, and most recently was with SCI Group, Inc., in Cedar Rapids. In other ac tion, Bob Van Diest was elected chairman and Donald L. Davis was elected vice chairman of the bank and trust officer. FORT DODGE: J.P. Mansfield III has joined the staff of United Cen tral Bank here as executive vice president. He most recently served as head of the lending division of First Bank Minneapolis, Minn, since 1982. His primary responsibility at United Central is credit administra tion for all phases of lending. Nebraska News The Mid Plans Group of the Na tional Association of Bank Women will hold its executive night on May 22 at the Omaha Country Club. The dinner will begin at 6:30 p.m. with guest speaker Helen Boosalis. Mrs. Boosalis was mayor o f Lincoln from 1975 to 1983. In June, 1983 she was appointed director for the Nebraska Department on Aging. Her topic for the evening will be “ Aging is for Everyone.” LINCOLN: Terry L. King has been named president and a director of Havelock Bank. Mr. King, 37, is a graudate of the University of Ne braska. From 1973 to 1981 he served in various capacities in investments and lending with the National Bank of Commerce in Lincoln. From 1981 until he joined the staff of Havelock Bank, Mr. King was president o f the Northgate National Bank in Hut chinson, Kansas. OMAHA: Hy-Vee Food Stores, head quartered in Chariton, la., has pur chased and installed ATM s in its seven Omaha stores. Hy-Vee has of fered availability of the machines to all financial institutions in the met ropolitan area and so far, 21 of them have signed with Hy-Vee to allow their debit card holders access to these ATMs. The lead bank in the group is Norwest Banks of Omaha. SHELTON: First State Bank has announced the promotions of Jack M. Riley to senior vice president, Brad Gangwish to vice president and cashier, and Cathi Lewis to as sistant cashier. Minnesota News COLOGNE: State Bank o f Cologne has named Gary D. Radel chief exec utive officer. Lester G. Mellgren, president of the bank since 1974, will become chief administrative of ficer and vice chairman. Mr. Radel most recently was senior loan officer of First National Bank of Monte video. LIN COLN : Nebraska A ttorney General Paul Douglas was acquitted earlier this month by the State Su preme Court on charges that led to his impeachment last March by the state legislature. The judges voted 4-3 to convict Mr. Douglas o f one of the charges and unanim ously cleared him of four other charges, but Nebraska law requires at least five votes to convict. Had he been convicted of one count, he would have been removed from office. ELK RIVER: Duane Kropuenske has joined First National Bank of Elk River as vice president with primary responsbility for new busi ness development, marketing, new product research and development and various lending activities. He has previously served at banks in Robbinsdale, Albert Lea and Wase ca. LINCOLN: Randy Helgren has been elected correspondent bank officer of National Bank of Commerce. He joined the correspondent bank divi sion of the bank in March after serv ing four years as president and CEO of the State Bank of Palmer. AU RORA: Aurora National Bank will celebrate 50 years of service to the community on June 10 with an open house at the main bank from 1:00 to 5:00 p.m. The anniversary week finale will be held June 16 with https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis a special drawing at 11:00 a.m. for a trip for two to the Caribbean Is lands, an Apple home computer and a 1984 Gold Olympic Coin set. CHICAGO: Mid-Citco Incorporated acquired assets and assumed liabili ties of the defunct United of Amer ica Bank on April 27, as approved by the FDIC, Comptroller and Com missioner o f Banks of Illinois. United of America was closed April 27 by state banking examiners and was reopened by Mid-Citco April 30. W isconsin News ABBOTSFORD: Norman B. Kommer, president of Abbotsford State Bank for the past ten years, has re signed effective May 31. Ronald D. Stephens has been elected to replace Com e to the quality investment specialists in Nebraska and Iowa. e’reyour * * best authorities for bond portfolio management recommendations. Our quality is your key to success. a ju Jeff Goble Dave Dickens Illinois News KUl Investment Banking Division UNITED MISSOURI BANK Member FD IC 10th and Grand o P.O. Box 226 Kansas City, Missouri 64141 (816)556-7200 4 Mr. Kommer as president and a di rector. Mr. Stephens has been asso ciated with the bank since 1977, most recently as vice president. Mr. Kommer has resigned to accept a po sition with First American National Bank of Wausau. Ag Banking Personnel Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi-' dential. Employers pay us to hire the best. Number Two person for southern Illinois bank. Excellent situation............. .............................................. To $35,000. Ag Lender for $60 million northern Iowa bank. Opening due to retirement.Nice community................................. To$28,000. WANT ADS 306 15th Street Des Moines, Iowa 50309 Phone 515/244-8163 Commercial Lender for southern Minnesota, multi-bank holding company bank....................................................To$30,000. Linda: 515/394-5827 Jean 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 ■ Massena, Iowa 50853 Soil G4REERS, INC. ■ * AG BANKING SPECIALISTS CASHIER—$26 million southwestern Minnesota commu nity bank seeks experienced operations officer. Salary open. Send resume to file WBB, c/o Northwestern Banker. ___________________________________________ (PA) LOAN OFFICER—$60 million bank in SE Iowa has posi tion available with 3 to 5 years bank experience in lending, with emphasis on agriculture. Please send resume and salary history to file WAU, c/o Northwestern Banker. (PA) COMMERCIAL LOAN OFFICER with 3 to 5 years experi ence with loans to mid-six figures and higher. Degree pre ferred, but not required. Forward resumes and salary re quirements to: Personnel Officer, First Interstate Bank, P.O. Box 5010, Great Falls, MT 59403. (PA) VICE PRESID.ENT/AGRICULTURAL LOANS—Excellent career opportunity. Requires bachelor’s degree (emphasis in agricultural subjects preferred) and a minimum of 3 to 5 years experience in ag lending. The individual must pos sess a working knowledge of agriculture, including the production of grain and livestock. Salary commensurate with experience, plus excellent benefits. Contact: Steven L. Afdahl, President, Hawkeye Bank and Trust, P.O. Box 4068, Spencer, Iowa, 51301. Phone (712) 262-1940. Member Hawkeye Bancorporation. (PA) CEO FOR NORTH CENTRAL IOWA RURAL BANK. Ag lending experience required. Salary open. Send resume to file WBF, c/o Northwestern Banker. (PA) AG LOAN OFFICER for $15 million N.W. Iowa bank. Salary commensurate with experience. Write to file WBG, c/o Northwestern Banker. (PA) COMMERCIAL LOAN OFFICER—Experienced lender to fill new officer position created by loan growth. Minimum 5 years commercial lending experience required. Send re sume and salary requirements to: Roger A. Wichelman, Pres., First National Bank of Waconia, Klein Bancorpora tion Inc., Box 85, Waconla, MN 55387. (PA) Minimum 3 years bank experience. Metropolitan areas - SD, ID, IA. Openings in Probate, Admin., Business Develpment, Investments. Progressive organizations with advancement opportunity and dept, head potential. All inquiries are held confi dential. Barbara J. Ritta Commercial Lender with five or more years experience for $300 million Illinois bank................................. Salary Open. SERVING PROFESSIONALLY Six weeks spread throughout each year in your own luxurious townhome near Keystone, in the heart of Ski Country. Banking, Financial & Business Personnel Iowa and Nationwide 1/8 CAPITAL PERSONNEL SERVICE FEE SIMPLE OWNERSHIP 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 Two bedroom, two and a half bath, fireplace, garage, hot tub in enclosed atrium area. Fully furnished, including washer and dryer. Purchase price $33,900. FOR SALE 1981 DIEBOLD 910 FREE STANDING ATM—Floor model auxiliary printer name display. Under service contract. $18,000. Contact Fred or Dick, Phone 319/353-7111. (FS) Dwayne S. Smith PARADISE PROPERTIES Box S Dillon, Colorado 80435 Phone today, 1-800/922-2590 24 NCR 279-100 TELLER MACHINES— $795 each. 9 NCR 279-200 TELLER MACHINES. $895.00 each. All eligible for maintenance. Contact: Omaha Computer Exchange. Phone 402/333-3203. (FS) "Banking Specialist" 1 TAB PAPER BURSTER, variable speed, Model 2446. 3 LEFEBURE CHECK FILES. 1 PITNEY BOWES POSTAGE MACHINE, MODEL 4351. 1 PITNEY BOWES POSTAGE SCALES -16 oz. 1 PITNEY BOWES POSTAGE SCALES -10 lb. Please ask for Jim, 278-1671, ext. 134. (FS) BANKING OPPORTUNITIES LUCY MURPHY 7625 Metro Boulevard • Suite 350 Minneapolis, Minnesota 55435 Phone (612) 835-4466 CP MANAGEMENT RECRUITERS OF MINNEAPOLIS T U F R F A R C M A N D R F C ÏR IIIT IN IR R P F C I A L I S T POSITIONS AVAILABLE VP - AG DEPT. HEAD • $17 million portfolio in $80 million Nebraska bank. 8 + years in banking, a degree, and some management experience required. $42K. VP - AG DEPT. HEAD - $15 million portfolio in $66 million Iowa bank. 10+ years in banking, a degree, and ex perience in large credit lines. $40K. EXEC VP - $45 million Iowa bank. Degree and strong com mercial lending skills required. $45K. AG LENDERS - Iowa, Nebraska banks. SR. COML LENDER • S&L, Texas. 913 Locust Des Moines, Iowa 50309 515-243-8064 Ag Lender for $100 million Iowa bank. Requires college de ......... . .To $30,000. gree and bank experience... Write or call Malcolm Freeland or Cy Kirk at Freeland Financial Service, Inc., 1010 Equitable Building, Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee, and we have many other opportunities. Purchase o f Collections Ben E . Marlenee Coins Ag Lender for community bank located on Mississippi....... ........................................................................................To$25,000. PROFESSIONAL RECRUITERS 6818 Grover, Omaha, NE 68106 Phone 402/397-2885 Estate Appraisals Used by bankers throughout the midwest Lender for $50 million bank located in lake areaTo $28,000. Ag Lender for northeast Iowa community bankTo $30,000. DIEBOLD 550 FREE STANDING ATM—Good condition. Phone Randy at 515/382-2101. (FS) Reliable and respected service for over 20 years Number Two person for northeast Iowa community bank. ........................................................................ To $35,000. Loan Review Officer for major bank holding company.. . . ............................................. ........................ To $35,000. TRUST OFFICERS TO $33,000 BURROUGHS L-3000—Contact Brian, phone 515/562-2696. ________ (FS) Sale o f Rare Coins Commercial Lender for large western Iowa bank. Requires at least 5 years experience with larger bank.. .To $35,000. Auditor with CPA degree and bank experience for major eastern Iowa bank......................................... Salary open. POSITION AVAILABLE SENIOR COMMERCIAL LOAN OFFICER—$100 million as set eastern Nebraska bank desires seasoned commercial loan officer to manage portfolio. Salary commensurate with experience. Contact 402/727-1100. (PA) Number Two banker withcommercial and ag lending record for Iowa bank in $50 million deposit range............. .........................................................................To $42,000. Cashier for $30 million southern Iowa bank. Ideal working conditions and recreational area................... To $28,000. Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER Financial Careers President for $50 million Illinois bank. Must have proven re cord................................................................................. To$70,000. To $30K. To $100K. COMMERCIAL/INSTL. LOAN - $80MM bank with large con sumer loan portfolio seeks experienced lender to under study senior loan officer. $25,000 CASHIER - $25MM community bank. Handle operations, personnel and regulatory reports. Third man position. $25,000 AGRILOAN • senior position in $35MM rural bank. Some experience with commercial credits desired. $35,000 COMMERCIAL LOAN - $60MM suburban bank. Requires three or more yrs. commercial lending experience and good business development skills. $33,000 INSTALLMENT LENDER - $40 million Eastern Nebraska bank. Good opportunity for upward mobility. $17K. PRESIDENT - major midwestern holding company seeks experienced CEO with strong agricultural loan back ground to manage $45MM affiliate bank. $ Open Please call; All inquiries confidential. Resume’ requested. Phyllis S. Lynch GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 402/330-3260 TOM HAGAN & ASSOCIATES P.O. Box 12346 - 2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 13 No. 5 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $15.00 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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