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Des Moines, Iowa May 23,1988 How Tax A ct Affects Directors Fees written especially for T he N o rthw estern B anker by SUKU RADIA, Partner and DOUGLAS BORN, Senior Manager Peat Marwick Main & Co. Des Moines, la. DOUGLAS BORN T earnings continue to be character ized as self-employment income sub ject to self-employment tax. In addi tion, although deferrals no longer delay the payment of self-employ ment taxes, they remain effective as a method of postponing income taxes. Social Security Benefits Under the Act, deferred fees also are included in the year services are performed for purposes of calcul ating the limitation on Social Securi ty benefits received. Therefore, de ferred directorship earnings now cause a reduction in Social Security benefit entitlements if the earnings that year, including deferred direc tor’s fees, exceed certain limitations in the year services are performed. Contrary to reports that have ap This eliminates the frequently used peared in the press and elsewhere, planning device of deferring director ^ employers are not responsible for fees until age 70, when individuals ^ either paying or withholding FICA can earn unlimited income without taxes on corporate director compen reducing their Social Security sation under the new law. Rather, benefits. This provision also is effecHE Omnibus Budget Reconcilia tion Act of 1987 (Act) enacted on December 22, 1987, made a number of changes regarding the taxation of director fees. This article reviews ■hose changes and their impact upon directors. tive for services performed in tax able years beginning on or after January 1, 1988. Keogh Plans Changes in the taxation of selfemployment income also impact a director’s ability to claim a deduc tion for his Keogh contributions. For Federal income tax purposes, Keogh contributions may be made only from amounts that are earned income. However, deferred director fees are not treated as earned in come in the year of deferral since such amounts are not included in gross income. Therefore, Keogh de ductions are not available in the year of deferral. Similarly, as amended by the Act, deferred direc tor fees are not earned income in the year received. Therefore, a director is precluded from making Keogh contributions even in the year he receives the deferred fees. It should be noted that contributions to a Keogh plan are still deductible if the fees on which the deduction is based are not deferred. Finally, recently released pro posed regulations would limit the ability of inside directors to main tain Keogh plans. Essentially, these regulations propose to consider an inside director’s Keogh plan as maintained by the corporation for whom the director works. As a result, the Keogh plan is required to be combined with other plans that the corporation maintains to deter mine if the collective plans meet the A fter m ore than 120 years o f providing correspondent banking services to the M idw est, you can say w eV e had a chance to polish our trade. Find out for yourself. Count on C om m erce. 1-800-892*7100 1-800-821-2182 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (Outside Missouri) C om m erce B a n k 'S Ï ' of Kansas City 2 Fifth and Commercial in downtown Waterloo. The bank has changed its location to allow for the new High way 218 contruction. Grand opening ceremonies are planned for June 6. a , llkll Norwest Bank Des Moines N.A. mamma NORWEST BANKS Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC Teamwork: one of the reasons we're first in Iowa. John Rigler Nebraska News Jay Nichols Internal Revenue Code and ERISA requirements for employee benefit plans. If they do not, then the Keogh or the corporate plan, or both, could be disqualified. Summary proposed regulations would limit an inside director’s ability to maintain a Keogh plan based on director fees whether they are deferred or not. In short, many of the assump tions upon which yesterday’s tax planning techniques were based have changed. □ The Act alters the taxation of director fees in three significant ways: • First, the Act accelerates the Iowa News year in which a corporate director is subject to self-employment tax on CHEROKEE: Bonni Conley has deferred director fees. joined the Valley Bank & Trust of • Second, it eliminates the use of Cherokee as vice president. Her deferrals as a way to avoid Social responsibilities will be ag and com Security benefit reductions. mercial loans. Prior to joining the • Finally, the Act effectively bank, Ms. Conley was with the forecloses the ability to base deduc FDIC in Des Moines. tible Keogh plan contributions on MARCUS: West Iowa Banc Corp. of deferred director fees. In addition, Marcus has purchased 95% of the outstanding shares of the Farmers State Bank of Marcus. The newly formed holding company purchased controlling interest from Carleton C. Van Dyke of Sioux City. He is retir ing after nearly 50 years of banking service in Sioux City and Marcus. Mr. Van Dyke purchased controlling interest in the bank in 1946 and was president of the bank from then un til this past April. West Iowa Banc Corp. is a one bank holding company comprised of mostly Marcus area residents. President of the company is Stanley O. Nervig, who has been Dick Retz serving as the bank’s senior vice MNB Correspondent Banker president. Together We Can Accom plish Great Things Call 319-368-4806 or toll free 1-800-332-5991 The 1988 Nebraska Bankers Association Bank President’s Golf q Outing will be held June 9 at the Lochland Country Club in Hastings. The day begins with coffee and rolls at 8:30, followed by a shotgun start at 9:00. Following golf there will be £ an awards reception and a buffet dinner. Fee is $65 and covers green fees, cart rental, breakfast, recep tion and dinner. After May 31, fee will be $75. Space is limited to 144 £ bankers, and priority will be given to CEOs and presidents. Contact the NBA to register. OMAHA: Norwest Bank Nebraska has named Sid A. Bostic president ® of its Omaha offices. He currently is president of the Sioux Falls branch of Norwest Bank South Dakota. In his new position, effective June 1, Mr. Bostic will be responsible for all ® community banking operations ii^ ^ Omaha and statewide activities ol^P the bank’s financial institutions and corporate banking units. Mr. Bostic ^ began with Norwest in 1964. ^ OMAHA: Jeff Bakewell has been promoted to vice president and head of the loan department at River City National Bank in Omaha. He has # been with the bank since 1985. Minnesota News In the “ You Will See Them at the Minnesota Bankers Convention” listings in our May issue, two at tendees from Marquette Bank were £ omitted. They are Lee Hamilton, WATERLOO: Peoples Bank & regional vice president, and Ralph Trust is moving on June 4 to West Nelson, vice president. Also omitted t's easier to talk Iowa banking with people who live it — people like Ben Eilders and the correspon dent staff at Bankers Trust. I Call 1-800-362-1688 or 515/245-2424. Strength Eastern |owa Merchants National https://fraser.stlouisfed.org F0 IC Cedar Rapids. Iowa 52401 Federal Reserve Bank of St. Louis Bank IS A BANKS OF IOWA BANK • Des Moines, IA Member FDIC Ben Eilders Senior Vice President W HAT BANK INVESTM ENT OFFICERS CAN LEARN FROM “TH E TH REE LITTLE PIGS.” You can’t build things overnight and ex pect them to last. Only proper materials and skill ensure stability and longevity. It’s a lesson United Missouri Bank has heeded while building their own solid investment portfolio as well as their successful Investment Banking Division. Recently, several banks in the Midwest forgot the moral behind this enduring fable. Tempted by the possibility o f a quick boost in earnings, their investment officers purchased unproven, high yield investment products. W hen unexpected changes in the market occurred, the banks suffered substantial capital losses. Since 1928, United Missouri has re searched, analyzed and offered only top-quality securities and investment strategies. Contact our Investment Banking Division at 556-7200. W e’ll help you make your bank’s investment portfolio so strong, nothing can blow it down. Investment Banking Division UNITED MISSOURI BANK Member FDIC Q f Q f y https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis aqn careers, inc. ___ / BANKING PERSONNEL SPECIALISTS BANKERS AVAILABLE MA-1 AG LOAN OFFICER...One-and-one-half years ag lending experience with FCS along with new business development. Excellent ag and business background with four years experience in ag sales for local service center. Exposure includes soil sampling, fertilizer recom mendations and assisting the manager in plant opera tions. References state, “Good worker, determined indi vidual with ability to analyze credit. Very respected indi vidual who has good rapport with farmers.” Ag Economics Degree. Good computer background. $20>$25,000. Call 515-394-5827. MM-2 CEO—In charge of overall management of bank. Full responsibility for loans and investments in Illinois bank. Supervision of personnel and operations. Formu lated policies and procedures. A reference stated, “he has a high energy level and has good experience in all areas of the bank.” $30,000. Call 712-779-3567. MA-3 SENIOR V P -Fifteen years banking career in 2560MM banks. Exposure to all areas of lending, operations, investments & bonds and call reports. Current respon sibilities include overseeing 15MM loan portfolio and overall bank operations for 55MM bank. Is very familiar with computer conversions and in house systems. Ac cording to references, “excellent documentations and analytical skills with very good accounting background. Adaptable, self disciplined and organized individual who will do a fine job for someone. Good managerial capabilities.” Economics degree. Attended Graduate School of Banking and Ag Credit School. AIB instructor. $40-$45,000. Call 515-394-5827. MM 4 REAL ESTATE/INSURANCE/FARM MANAGEMENTNine years managing 20 farms. Real Estate Broker Casu alty Insurance Broker. Qualified appraiser including Ag, Residential and Commercial appraisals. Experience in Financial/Management consulting. $30-$35,000. Call 712779-3567. MA-5 REGIONAL CREDIT MANAGER-Five years expen ence in ag related credits. Good exposure to financial statements and farm inspections. References indicated, “very conscientious, bright and self disciplined young man. Has very good communication skills and can visit with farmer customers in a way that makes them feel comfortable to get the job done. He’s the best I’ve ever worked with!” Ag Business Degree. $30-$35,000. Call 515394-5827. MM-6 CEO/SR. MANAGEMENT—Fourteen years plus bank ing experience. Holds JD, President and COO of 300MM holding company. Responsible for establishing six new trust departments. Capable in all areas of banking. As a reference says, “He is regarded as a skilled and effective banking executive.” $75,000. Call 712-779-3567. MA-7 VICE PRESIDENT-Over 15 years banking career includes four years as bank examiner. Experienced in all areas of lending, insurance sales, mediations and work outs, operational duties and call reports. Currently re sponsible for 6MM loan portfolio with credits up to 300K. Business Administration Degree and has attended numerous banking seminars. $45-$55,000. Call 515-3945827. serve as the source to locate candidates who meet your qualifications and are interested in your bank, community, and salary range. W e are available to assist, but allow and encourage your direct contact with our candidates. You make the choice and decision, without pressure. We GARY MAAS 712/779-3567 Hwy. 92 W., Box 140 Massena, IA 50853 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Our fee is paid by the employer and is based on a percentage of the first year’s compensation. All placements are guaranteed. A complete explanation of our services, fees, and guarantees will be sent at your request. ANNETTE FAHNING 515/394-5827 Hwy. 63 S., Box 307 New Hampton, IA 50659 MM-8 OPERATIONS/CASHIER-Eight-and-one-half years VP and Cashier experience in a 43MM NW IA bank. Re sponsible for installations of automated teller machine. Very good computer and management skills. Available immediately. $28,000. Call 712-779-3567. MA-9 EVP-Nine years bank & FDIC experience. Currently responsible for 4MM loan portfolio, all regulatory report ing, supervision of personnel, budgeting, marketing and investments. In less than one year has ROA over 1.5. “Has a good handle on credit. Is very personable. Has good communication skills and gets along well with everyone,” reports references. $28*$32,000.Call 515-3945827. MM-10 LOAN OFFICER-Involved in credit and lending for eleven years. Veteran in Ag, Installment and commercial loans. Trained in money market accounts, IRA’s and time CD’s. Excellent in analysis and collections. Very good with FmHA loans. $25-$30,000. Call 712-779-3567. MA-11 AG LOAN OFFICER-Over three years bank experi ence maintaining ag customers, developing new busi ness, working on financial statements, analysis and cash flows. Good micro-computer background. Eager young man wanting career advancement. Business Administra tion Degree. $20-$25,000. Call 515-394-5827. MM-12 OPERATIONS/LENDING-Four-and-one-half years bank experience. Handles Real Estate loans. Operations and Management duties also. “He was always willing to do anything for us. We still use the programs he set up for us,” quoted a reference. $23*$28,000. Call 712-7793567. MA-13 LOAN OFFICER/APPRAISER-Four years ag lending experience with FCS maintaining long term and short term credits. Generated 800K worth of new business in less than three years. Appraised 325 farms in less than one year. Is involved in American Society of Farm Man ager & Rural Appraisers. “Aggressive, good worker and good working knowledge of short term and long term lending. Strong ag background,” said reference. Degree in Ag Business Administration. $25,000. Call 515-3945827. MM-14 INSURANCE-Nineteen years insurance experi ence. Fifteen years as manager. Currently responsible for increasing agency’s premium volume from 300K to 500K in a South Dakota bank. A reference states, “he is a very dedicated man and is as honest as the day is long.” $24,000. Call 712-779-3567. MA-15 CASHIER-Eleven years experience received through FDIC and commercial bank. Duties in previous 712/779-3567 Hwy. 92 W., Box 140, Massena, Iowa 50853 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis position included: part of Senior Management Team, overall bank operations and general responsibilities over bank’s fixed assets. Past experience also includes reg ional audit and loan review manager. “Very strong in analyzing and conceptionalyzing different ideas and fi nancial statements. Highly motivated and very energetic, ” comments former co-worker. Business Administration De gree and attended Graduate School of Banking and AIB School. $33-$37,000. Call 515-394-5827. MM-16 SENIOR MANAGEMENT-Well rounded back ground in lending and management. Strong in turning around unprofitable situations. Good computer knowl edge. Three years as an EVP in Northwest IA bank. Holds life insurance license. Reference quoted, “he knows every facet of lending and management skills.” $40,000. Call 712-779-3567. MA-17 FINANCIAL MANAGER-Five years ag credit ex perience gained through intensive sales and business management training. Previous position provided expo sure to budgeting, cash flow preparation, financial analysis and accounts receivable collection and control. In charge of over 1.5MM in accounts. Ag Education de gree from ISU. Took available sales and accounting courses. $23-$25,000. Call 515-394-5827. MM-18 VP/LOAN OFFICER-Four years as VP in NE bank. Responsibilities include all types of lending, budgeting, compliance, planning. In charge of writing loan policies and bank marketing. Nine years in credit and six as bank examiner. BS in Economics, excellent lending and man agement skills. $40,000. Call 712-779-3567. MA-19 PRESIDENT/CEO-Twenty years banking career in cludes 14 years with 1.5 billion bank holding company. Past five years has been Regional President of seven banks totaling 310MM in assets and also President of 125MM bank. Has managed investment and trading portfolios and has excellent track record in net income earnings. BA degree in Business Administration. At tended numerous bank seminars and schools. Has served on several Governor appointed Task Force and Advisory Bank Boards. $50-$60,000. Call 515-394-5827. MM-20 CEO/CFO-Summa Cum Laude in Economics and Finance. CPA with honors. Fifteen years supervisory ex perience. Five years as President and five years as Chair man of the holding company responsible for turning trou bled bank to profitability. Knows insurance and com puters. Strong leader. $40>$50,000. Call 712-779-3567. il CAREERS, INC. 515/394-5827 Hwy. 63 S., Box 307, New Hampton, Iowa 50659 OVER 60% OFALL BANKSINOURMARKETAREAARENOWINSURED BY THE KANSAS BANKERS SURETY COMPANY That’s R ig h t. . . In the nine states we serve we have solved the bonding needs for 6 ot every 10 banks. That's over 16.4% of all banks in the United States THE REASONS. . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DO NALD M. TOW LE President DAVID E. ABENDROTH Senior Vice President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1-913-234-2631 FINANCIAL IN STITUTIO N BONDS, SAFE DEPOSITORY LIA BILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTO RS AND O FFICERS LEGAL DEFENSE AND LIM ITED INDEM NITY PO LICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving the Heartland of America since 1909 OVER 60% OFALL BANKSINOURMARKETAREAARENOWINSURED • BY THE KANSAS BANKERS SURETY COMPANY That’s R ig h t. . . In the nine states we serve we have solved the bonding needs for 6 of every 10 banks. That's over 16.4% of all banks in the United States THE REASONS. . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DAVID E. ABENDROTH Senior Vice President DONALD M. TOW LE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 * Phone 1-913-234-2631 FINANCIAL IN STITUTIO N BONDS, SAFE DEPOSITORY LIA BILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTO RS AND O FFICERS LEGAL DEFENSE AND LIM ITED INDEM NITY PO LICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving the Heartland of America since 1909 * F irs T ie r Correspondent Services 3 More of what it takes to serve you well. FirsTier. B anks Lincoln • Omaha RrsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC was Minnie Schroeder’s title; she is also a vice president at Marquette Bank. # ® m 0 0 0 # # ^ 0 EDEN PRAIRIE: Among recent promotions at First State Bank of Eden Prairie was the advancement of Sue Von to vice president. She previously served as vice president at Marquette Bank Minneapolis. Ms. Von began her banking career at Norwest Bank Minneapolis. MINNEAPOLIS: First Trust, a subsidiary of First Bank System, has announced several promotions. Mike Kellogg was named vice presi dent and manager, institutional trust group. He joined First Trust in 1986 as assistant vice president in that department. Tom Murray has been promoted to vice president, personal trust. Most recently, he served as personal trust assistant vice president/assistant secretary. Bob Engebretsen has been named vice president, personal ttrust. He joined First Trust in 1973 as an in come tax accountant in that department. Judith Tucker Curtis has been named vice president and manager of corporate trust administration. She joins the company after 13 years with Continental Illinois National Bank and Trust Company of Chicago, where she most recently was second vice president in the cor porate services trust department. MINNEAPOLIS: Securities Pro cessing Services, Inc., a subsidiary of First Bank System, has an nounced the appointment of two vice presidents. Elizabeth Parker was promoted to vice president and manager of physical asset services. She has been with FBS since 1979, most recently as assistant vice president at First Trust. William M. Wingfield will manage the installa tion of a new computer system. He most recently served as vice presi dent of trust operations services for Wachovia Bank and Trust, Win ston-Salem, N.C. MINNEAPOLIS: Fred Gumbel was recently named credit cycle manager for the credit management and pro cessing support division of First ® forBank. He most recently was senior Digitized FRASER vice president at Citicorp Savings of https://fraser.stlouisfed.org Florida, Federal Reserve BankMiami. of St. Louis ST. PAUL: The following were among recent promotions at Chero kee State Bank: Dennis Passeri has been promoted to executive vice president. He has been with the bank 19 years. Ann Tischler was ad vanced to vice president— cashier. Heidi Gesell was promoted to vice president, and has been with Cherokee State since 1983. Wyoming News CASPER: Among recent changes announced by Wyoming National Bank Casper was the appointment of Joe M. Sprecher to vice president and manager of the real estate mort gage department. He is a new em ployee at the bank. Illinois News CHICAGO: Kenneth A. Skopec, president of The Mid-City National Bank of Chicago since 1972, has been elected vice chairman and chief executive officer of the bank. Ran dall J. Yenerich, who had been exe cutive vice president of Mid-City, will succeed Mr. Skopec as president and will also serve as the bank’s COO. Ronald D. Santo, formerly senior vice president, has been elected to replace Mr. Yenerich as executive vice president. He was also elected to the board of direc tors. NORTHBROOK: Lane Financial, Inc. announced on May 11 that the Federal Reserve System has ap proved the proposed acquisition of Lane Financial by ABN/LASALLE North America, Inc., parent com pany of LaSalle National Corpora tion. Lane Financial’s common stockholders will vote on the ac quisition at the company’s annual meeting on May 31. W isconsin News Bryan K. Koontz has been named president and chief executive officer of the Wisconsin Bankers Associa tion in a recent reorganization of the association. He had been executive director. Susan K. Linck was named executive vice president and manager of WB A ’s member services division. Arnold Berg, Kim Kindschi, Richard Gaul, and Susanne Nettesheim were named senior vice presidents. Mr. Berg is also presi dent of Employee Benefits Corpora tion and WBA Banclnsure Agency, WBA subsidiaries. Ms. Kindschi is also manager of the education pro ducts division. Ms. Nettesheim is legal counsel. Mr. Gaul is president of W BA Financial Institutions Products Company, also a sub sidiary. % iM&Don’t W Forget! Send your name and address for the latest edition o f the free Consumer Information Catalog. Write today: Consumer Information Center Department DF Pueblo, Colorado 81009 4 BANKING 'Professional assistance in hiring and career advancement" Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 815 Office Park Rd., Suite 6 West Des Moines, Iowa 50265 515-226-0510 quality service by experienced professionals 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 Jean Eden Sandi Gamer 515- 276-1151 515- 832-1258 Tues / Wed / Fri Confidential. Fees Paid by Employer. DOES YOUR BANK NEED AN INVESTMENT CENTER? Your benefits: • New high net worth customers • Added profit • Reduced deposit loss to competitors • Ability to offer complete financial services For information contact: INVESTMENT CENTERS POSITIONS AVAILABLE VICE PRESIDENT #2—Are you looking for a mgmt. role that offers a path to president? Our attractively located bank needs a strong mgr. with a progressive ag lending background. Must have good mktg. skills and bank exp. Bank is in excellent financial condition. Send resume and salary history to File WNJ c/o Northwestern Banker. (PA) TRUST DEPT. MGR.—Growing West Wl trust co. seeks mgr. $40MM portfolio in great resort city. Seek 5+ yrs. trust administrative exp. Salary to $40K. Contact File WNK c/o Northwestern Banker. (PA) FOR SALE 20 Burroughs TT102 TELLER TERMINALS. All terminals in working condition and are currently under contract. Make offer—contact Ron Winquest at First National Bank of York, York, Neb. (402) 362-7411. (FS) POSITIONS AVAILABLE VP OPERATIONS Great location, super oppty for proven operations profes sional. If you have prior mgt exp. and 3 + years of bank acctg, call reports. $30K. COMM’L LOAN OFFICER Are you looking for growth and new horizons? Strong bank near metro area offers $8M + portfolio and great stepping stone position. Must have comm'l training and new business development skills. $36K. SR VP Head lending position in progressive cty seat bank. Must be capable of developing business, calling on current customers and motivating staff. Will have 8+ years of len ding, primary focus on small commercial, light mfg and large ag lines. $55K. FOR FURTHER INFORMATION CONTACT KURT R0SENCRANT5 ROBERT ftMLF OF K IW A.M C . 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES C O M P A N Y PAID 1-800-544-7113 First Dakota Building P.O. Box 2796 Bismarck, ND 58502 or P.O. Box 65697 West Des Moines, 1A 50265 POSITIONS WANTED PRES./CEO or #2 person with potential of pres, in 2 yrs. 25 yrs. experience includes administration, lending & opera tions. Strong in ag loan workouts. Contact File WNL c/o Northwestern Banker. (PW) SENIOR OPERATIONS OFFICER, married, age 36, with 14 yrs. exp., desires new challenges with a progressive midwest bank. Currently VP & cashier of $65mm bank with full responsibility for operations & personnel. Strong in asset & liability mgmt., budgeting, cost controls, data pro cessing, internal controls, & people mgmt. Possesses col lege degree along with advanced banking degree. Contact File No. WNM c/o Northwestern Banker. (PW) COL. GORDON E. TAYLOR Box 949 - Mason City, la. 50401 515/423-5242 Professional Auctioneer Real Estate Broker and Appraiser POSITIONS AVAILABLE TRUST MARKETING • large urban bank. Requires degree and trust experience. $35K REAL ESTATE LOAN - single family residential and secon dary market experience required. Proximity of major metro area. $40K LOAN REVIEW - large bank experienced required. Both junior and senior level positions available. $28-$40K COMMERCIAL LENDING - V.P. positions in urban and large suburban banks. Personal portfolios from $20MM to $50MM. $40 K BRANCH MANAGER - handle small business and con sumer credits. Med-size community affiliate of multibank holding company. $24K Additional listings for commercial lending and trust officers. Resume’ requested. WANT TO BOY MONEY SAFE WITH TIME LOCK. Approx, outside dimen sions: 32” high, 32” wide, 29” deep. Roger Borup, Wellman Savings Bank, Wellman, IA 52356, (319) 646-6011. (WTB) TOM HAGAN & ASSOCIATES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” POSITIONS AVAILABLE BANK HOLDING CO. FOR SALE Owner of one bank holding company willing to sell one-half interest and remaining interest on contract. The bank, with $10-15mm in assets, is located within a 50 mile radius of Des Moines. Purchaser would assume mgmt. responsibilities. Persons may indicate their interest by mail to P.O. Box 93341, Des Moines, IA 50393. F in a n c ia l I nstitu tio n S ervices C o r po ratio n Specialists in Turn-Key Tax-Advantage Marketing Programs For Financial Institutions VP COM’L LOAN REVIEW—Are you willing to travel? Ma jor bank group seeks mgr. to spearhead loan review func tion in its outstate affiliate banks. Offlced in Mpls., this position will review credit quality, loan structure & overall portfolio mgmt. Great visibility. Seek 10+ yrs com’l bank for review or examination exp. To$55K. Job#NW3297 JR. COM’L LOAN OFFICER—Are you sick of being told “ to be patient” ? Upper peninsula Ml bank has immed. op ening for jr. com’l lender w/6 mos. cred. anal. exp. Must be degreed w/formal credit training. Super chance to join a well-performing holding co. To$25K. Job#NW3298 AG LENDER—Successful, clean bank in So. MN is adding to mgmt. team. Requires 2+ yrs. ag lending exp. with dairy products emphasis. Must also have FmHA exp. Very few work-outs. To mid $20K. Job #NW3301 CALL PAUL GENTZKOW OR BILL BENSON Providing: Customer Retention Increased Fee Income Full Service Banking 815 Office Park Road, Suite 8 West Des Moines, Iowa 50265 (515) 224-5880 Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID Vol. 17 No. 6 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, $24.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden https://fraser.stlouisfed.org St., #201, Des Moines, Iowa 50309. Federal Reserve Bank of St. Louis
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