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Vol. 9 No.5 Des Moines, lowa Focus On New Government Agency H E Depository Institutions Deregulation Committee—the fewest financial interagency group Washington—is likely to be the focus of considerable attention for bankers, not just for the next months, but for the next six years. Vested in the committee—which is made up of the heads of the Fed eral Reserve, FD IC , Federal Home Loan Bank Board, National Credit Union Administration and Treasury Department, with the Comptroller of the Currency as a non-voting member— is the authority to man age deposit interest rates, an authority which (until March 31 of this year) had been controlled in large by the Congress. The omnibus financial deregu lation law which was signed by the President on that date, created the Depository Institutions Deregula tion Committee for the specific pur pose of managing and phasing up all deposit interest limits toward the end of Regulation Q on March 31, 1986. During this interim period, the committee’s goal is to move de posit interest limits toward market rates. T Competition From the standpoint o f competi tion between commercial banks and the specialized thrift institutions, it is expected that as the committee moves toward elimination of Regu lation Q, the interest rate gap will tend to matter less and less as a market reality. Specialized thrift in stitutions will be able to maintain the quarter percent interest advant age during the six-year period, but only on deposit instruments which they were allowed to offer on or be fore December 10, 1975. Particular ly in the area of creating new deposit instruments which could make com mercial banks more competitive, the procedures under which the com mittee will operate are of importance to bankers. For example, the com mittee can decide by a majority vote o f its members to create a new de posit instrument, whereas in the past the objections o f a single regu latory agency were sufficient to stymie the creation of new types of deposits. Federal Reserve Chairman Paul May 26,1980 Volcker was elected at the commit tee’s first meeting in early M ay to chair the panel, and Irvin Sprague, chairman of the F D IC , was elected vice chairman o f the panel. A t the first meeting, the commit tee began to foreshadow the types of action that it will be taking. For ex ample, the committee decided that, effective immediately, it will not re quire the imposition o f early with drawal penalties on accumulated in terest (as opposed to principal) when a time deposit has been renew ed automatically on the same terms that it had previously. The commit tee also decided to allow an optional seven-day grace period in which de pository institutions can continue to pay interest on certificates of de posit which have matured. On another front, the committee proposed to prohibit the offering of premiums for deposits by all finan cial institutions. I t also proposed that any finders’ fees paid in con nection with the acquisition o f de posits be included in calculation of the interest paid on those deposits under Regulation Q. Looking beyond the first meeting of the Depository Institutions De regulation Committee, the Am eri can Bankers Association petitioned the panel to end the interest rate differential on six-month $10,000 “ money market’ ’ certificates of deNEW AGENCY . . . (Turn to page 4, please) ASK DALE FROEHLICH to make MNB work for you. Toll free: 1-800-332-5991 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Merchants National Bank isi Member F.D.I.C. a ‘BANKS OF IOWA’ BANK 2 Nebraska News Don't gam ble when choosing o correspondent bank. Come to the professionals. Central National Bank & Trust Company DES MOINES • MEMBER FDIC TOLL FREE NUMBER (800) 362-1615 Iowa News The Iowa Bankers Association is sponsoring three special Agricul ture Lending Forms Workshops next month. Speakers will include attorneys who are members of the forms committee, which developed the new ag forms. Dates and locations are: June 3, Marina Inn, Sioux City; June 5, Breckenridge, Des Moines, and June 6 , Conway Civic Center, W aterloo. Each workshop will begin at 10 a.m. and adjournment will be about 3 p.m. CR ESTO N: The Iowa State Sav ings Bank has received consent from the F D IC to change the location of its main office from 125 N. Maple to 401 W . Adams here. FO R T M A D IS O N : The annual Group 11 G olf Day is set for W ed nesday, June 25, at the Fort M adi son County Club. For details con tact Phil Ingebritson, executive vice president, Lee County Savings Bank, FortMadison, (319)372-2243. S IB L E Y : Deems “ T ob y” Thulin has joined the Sibley State Bank as assistant vice president. Formerly with the First State Bank o f Ada, Minn., Mr. Thulin replaces Keith Warrelmann who has joined the Emerson State Bank. Harris Kruse was promoted to assistant cashier. A c tiv ity on CBCT unit applica tions has been announced by the regional administrator o f national banks. Approved: The Omaha National Bank—4970 S. 135th St.; Highway 370 and U.S. 73-75, Bellevue, and 807 Tara Plaza, Papillion. First N a tional Bank & Trust Co., L in c o ln 501 W est A St. and 56th & Highway 2. Opened: First National Bank of Y ork — Sherman & Elmer, Benedict; 106 N. Main, Henderson. L A U R E L : Security National Bank has received consent from the re gional administrator of national banks to change the location of its head office from 108 Oak St. to 202 E. Second St. L IN C O L N : Two senior officers of First National Bank of Lincoln’s trust investment department have taken other positions. Galen Abood, vice president and manager of the department, has joined Mutual of Omaha Fund Management Co. Bob Phillips, senior trust investment officer, has joined M ing & Associ ates in Oklahoma City. O SCEO LA: Sue Greenwood has been promoted from assistant cash ier to cashier of the First National Bank here. She joined the bank in 1974. S H E L B Y : David H . Knust has been elected president of the First National Bank here succeeding George Cemper. Minnesota News Three Minnesota banks have in creased their amounts of capital stock: Blue Earth State Bank to $1 million, Peoples State Bank of Cam bridge to $1 million and the First Lakeville State Bank to $509,000. A D R IA N : Adrian Building Corpor ation has received consent from the Federal Reserve Bank of Minne apolis to become a bank holding company by acquiring the Adrian State Bank. Errors & Omissions Coverage 1. Directors & Officers Liability 2. Trust Errors & Omissions 3. Data Processing Errors & Omissions 4. Mortgage Errors & Omissions 5. “All Risk” Liability Policy https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis flUTDmfiTEO SVSTEfTIS □F ID U JfijnC . 301 N. Ankeny Blvd., Suite 220 Ankeny, la 50021 515-964-1358 BANKERS PARTICIPATING LeasePlan.Inc. | 545 - 31st S treet Des Moines. Iow a 50312 R. L. “ DICK” SELCON • P.D. “ DUANE” DEVAULT C R Y S T A L : M ichaélS. Higgins has joined the Crystal Stjate Bank as vice president in charge of commer cial loans. He was formerly with Midland National Bank o f Minne apolis in the correspondent bank division. G R A N D R A P ID S : W ilcox Bafocshares, Inc. here has received approval to become a bank holdin company by acquiring the Grand Rapids State Bank. G O LD E N V A L L E Y : Services were held recently for Elmer W . Bratsch, 71, chairman of the Golden Valley State Bank. Mr. Bratsch had been with the Golden Valley bank for over 20 years and had earlier retired as president. ST. P A U L : Jim Gowan, president of the Minnesota Bankers Associ ation and vice president and head of the correspondent bank division at First National Bank here, is recup erating well after undergoing emer gency abdominal surgery at The Miller Hospital last week. Mr. Gow an is expected to return this week to his home at 332 Betty Lane in St. Paul, Minn. 55118. Bank on a BANKERS’ BANKER C a ll 1-800-362-1688, toll-free in Io w a Don Carmody Correspondent Banking Department Bankers Trust Des Moines, Iowa 50304 Member FDIC, Federal Reserve System Carleton D. Beh Co. Investment Bankers/Financial Consultants NEW ISSUE SALE DATE: May 20,1980 $1,500,000 PELLA, IOWA MOODY’S: A General Obligation Bonds Dated: May 1,1980 Denomination: $5,000 Both principal and semiannual interest (June 1 and December 1, first coupon due on December 1,1980) payable at the Office of the Clerk of the City of Pella, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. MATURITIES 7.00% $ 60,000 J u n e l,1982 65,000 J u n e l,1983 75,000 J u n e l,1984 80,000 J u n e l,1985 90,000 J u n e l,1986* 95,000 J u n e l,1987* 6.00% 110,000 J u n e l,1988* 6.10% 120,000 J u n e l,1989* NRO NRO NRO NRO NRO NRO NRO 6.10% J u n e l, 1990* 6.20% 145,000 Ju n e l, 1991* 6.30% 160,000 J u n e l, 1992* 6.40% 175,000 Ju n e l, 1993* 6.50% 195,000 J u n e l,1994* $130,000 6.10 6.20 6.30 6.40 6.50 6.05 *Optional in inverse numerical order beginning June 1, 1985 at 104% and declining by Vz of 1 % each full year after June 1, 1985 to 100% on June 1, 1993 and thereafter. LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE& SMITH, ATTORNEYS DES MOINES, IOWA Pella, Iowa is located 50 miles southeast of Des Moines, Iowa’s State Capitol. In recent years it has become a tourist attraction, with tour ists coming for the Tulip Festival held the second weekend in May since the beginning Tulip Day, held May 18,1935. The area surrounding the City is agricultural . In the past coal was mined in the area, but currently those areas are now farmed or used for wild life conservation. There are nine manufacturing plants and a variety of small industries and processing plants in the City. The products of some of these industries are heavy and light farm equipment, windows, doors, elevators, farm apparel, uniforms, processed fruit drink, hog catchers fertilizer businesses, egg processing, dye-making and greenhouses. Industry makes up most of the jobs in the area and some of the major emp oyers within the City are: Pella Rolscreen (1,991 employees); Van Gorp Corp. (142 employees); Vermeer Manufacturing (903 employees); Central College (84 employees) and Pella Manufacturing (76 employees). Pella’s major highway is Highway 163. There are two banks located in Pella with total deposits as of December 31, 1979, in excess of $75,860,000. These bonds are being issued under the provisions of Chapter 384, Code of Iowa, 1979, as amended, to finance the updating of the sewer system and construction of a new Sewage Treatment Plant. In the opinion of counsel, these bonds are legal and binding general obligations of the City of Pella, Iowa, and all taxable property located therein is subject to the levy of sufficient taxes to pay the principal of and interest on the bonds without limit as to rate or amount. FINANCIAL STATEMENT Actual and assessed value of taxable property, 1979 Direct debt, including this issue Total direct and overlapping debt Population, 1980 estimate: 7,900 $98,348,835 1 575 qoo 3,’409 552 Direct debt per capita: $199.37 Total debt per capita: 431.59 Tax collections have approximated 99.43% of taxes levied for the past five years. We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds was based. Offered subject to prior sale and change in price. Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 607 M arquette Ave. • Minneapolis, Minnesota 55402 • 612-332-8825 Call our Bond Department For up-to-the-minute, accurate information Tom Steffens Terry M ercurio Jim McLaughlin Vice President Vice President 234-2462 Asst.Vice President Asst.Vice President 234-2458 234-2673 Tony Paugoulatos 234-2647 i^r C ommerce NEW AGENCY . . . (Continued from front page) posit at all interest rate levels. Under rules set last year, if the maximum allowable interest rate on the money market certificates should fall to 9 % or less, the quarter percent interest rate disadvantage would be reimposed upon banks. The five members o f the Deposit ory Institutions Deregulation Com mittee met Tuesday, M ay 20, in an extended session, then adjourned until Friday, M ay 23, to further consider whether to retain or elimi nate the quarter percent rate differ ential favoring thrift institutions. This meeting followed an ur gent call from the American Bank ers Association to eliminate immed iately the interest rate differential on money market certificates o f de posit at all interest rate levels. The Association said a M ay 7-8 telephone survey of 140 full service bank shows that reimposition o f the quarter percent interest rate disad vantage on commercial banks would cause many banks to have to reduce their lending, particularly to farm, small business and home mortgage borrowers. In a M ay 13 letter to the Deposit ory Institutions Deregulation Com mittee, A B A Executive Vice Presi dent W illis W . Alexander said a re imposition of the interest rate differ ential would seriously impair the ability o f banks to make small busi ness, agricultural and home mort gage loans, because a significant portion o f the commercial banks’ time and savings base is made up of certificates which will be subjected to a differential if the Committee fails to act. A B A had already petitioned the Deregulation Committee to end the differential on money market CDs. The new letter renewed that call and added new information for the regu latory agencies to consider. The maximum rate payable on the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10th and Walnut certificates fluctuates with the rate on six-month Treasury bills. A bove the 9% level, all financial institu tions have an equal rate ceiling on the certificates. Below the 9 % level, the differential is reimposed—a differential o f up to one-quarter per cent. On M ay 12 , the rate for six-month Treasury bills fell to 8.78%; effect ive M ay 15, therefore, the different ial could be reimposed on the money market certificates. The maximum for thrift institutions would be 9 %; and the maximum for banks would be 8.78%. A B A ’s telephone survey covered 140 banks in 15 states; 110 of the banks are under $100 million in total assets. The survey, M r. Alexander said, suggests that most banks, particu larly banks under $100 million, are heavily dependent on money market certificates as a source of funds. Money market certificates average 32% o f total time and savings de posits at the 140 banks surveyed. Moreover, “ many of the banks that are heavily dependent on money market certificates also have high loan-deposit ratios and would have severe liquidity problems if they experienced a runoff in their money market certificates,” Mr. Alexander asserted. The 140 banks have an average loan-deposit ratio of 69 %, with farm and small business loans averaging 31% o f the total, and home mort gages accounting for 26% of the total. “ The result of re-establishing the differential for these now ratesensitive funds will certainly be dis intermediation from these banks with predictable impairment of their ability to serve agricultural, small business and residential mortgage needs.” Mr. Alexander warned. Mutual Funds The Depository Institutions De (816) 234-2000 regulation Committee has other im plications for bankers, as well. On the money market mutual fund front, the A B A is petitioning that committee to compare at each of its quarterly meetings the competitive conditions of regulated financial in stitutions versus unregulated mon ey market funds. A B A is recom mending that the committee sup port the regulation o f money market mutual funds on the basis o f their function as financial intermediaries. The committee should permit new types of deposit instruments and/or should alter the terms of existing deposit instruments as necessary to maintain the competitive viability of regulated depository institutions. This petition is part of a compre hensive plan to meet the competi tive challenge posed by money mar ket funds. Under other elements of the plan, A B A will: • Seek legislation granting the Federal Reserve permanent statu tory authority to place reserve re quirements on transaction balances m aintained b y m oney m arket mutual funds. A s a new type of ac count, they should be subject im mediately to reserve requirements specified in the omnibus deregulat ion law. • Seek regulations and legislation if necessary to combat the mislead ing advertising strategy and claims of money market mutual funds by requiring them to make at least the following disclosures in clear terms: that the balances they hold are in vestments, not deposits; that those balances are not insured on any basis comparable to balances held in regulated depositories, and that the transaction instrument the funds offer is a payable through draft, not a check, which might be treated as a collection item rather than a cash item. • Aggressively seek legislation allowing trust departments to offer comingled agency accounts to com- 5 CALL ON THE “PERFORM ANCE TEAM ” where comm on transactions are handled uncomm only well, FIRST NATIONALLINCOLN 13th & M Street • Lincoln, Nebraska 68501 » Member, F.D.I.C. pete with money market mutual funds. To provide equity for banks which do not have trust depart ments, banks should be permitted to advertise the pooling of deposits. • Support efforts to amend the Glass-Stenagall A c t to permit banks to underwrite municipal rev enue bonds. This procompetitive re form would be in the public interest in that it would reduce the cost of municipal financing while at the same time providing banks with more competitive earning opportun ities as they move toward full dereg ulation. • M ove ahead with efforts to achieve comprehensive usury relief at the earliest possible date in order to achieve equity for banks and other regulated depositories. • Support legislation to require money market mutual funds to use the same valuation procedures as other mutual funds. (Current valu ation procedures tend to make shares look like deposits.) Daily net asset value should be reflected in the value of the shares. A B A already has commended the Federal Reserve for imposing re serve requirements on the funds and urged the Fed to deny a petition by the Investment Company Institute that the reserves be removed. In addition, A B A has filed a petition with the Securities and Exchange Commission asking the SEC to en force its Rule 156 against the money market mutual funds so as to elimi- Estate Appraisals Purchase of Collections nate all misleading advertising with respect to the character of the money market funds’ payment in strument. □ Prime Drops to 151/2% Chase Manhattan Bank dropped its prime to 15*/2 % on M ay 22. Illinois News C H IC A G O : Manufacturers Nation al Corporation, a one-bank holding company, has received permission from the Federal Reserve Board to retain shares of Manufacturers Bank here. F A IR B U R Y : The National Bank of Fairbury has received consent from the administrator of national banks to open an office at 101-105 E. Oak St. here. M E C H A N IC S B U R G : A charter has been issued to the Mechanicsburg Citizens Bank located on W est Main Street. The state bank’s total capitalization of $750,000 will con sist of $300,000 capital stock, $300,000 surplus and $150,000 re serve for operating expense. The officers are Kenneth R. Metcalf, chairman; John H. Pickrell, presi dent, and C. Bryant Flatt, vice president. U R B A N A : The Busey First N a tional Bank has merged into the Urbana National Bank under the charter o f the latter and the title of Busey First National Bank. W A U K E G A N : Citizens National Bank of Waukegan has received consent from the administrator of national banks to open an office at G olf Road and Pine Street here. Used by bankers throughout the midwest https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis G R A F T O N : The First National Bank of Grafton has received con sent from the administrator of na tional banks to open an office at Highway 17 and School Road here. Colorado News E V E R G R E E N : The First National Bank has received consent from the administrator o f national banks to change the location o f its main office from 28145 Colorado Highway to 2922 Colorado Highway 74 here. L A K E W O O D : United Bank of Lakewood has announced the pro motion o f Jean Naylor and Tom Courson to senior vice president. Ms. Naylor was promoted from vice president and cashier to senior vice "Opportunity RU THANKS FOR HELPING TO KEEP UNITED WAY IN BUSINESS. Ben E. Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 C. N. Davis, president o f the First State Bank in Cando, was advanced from first vice president to president of the North Dakota Bankers Asso ciation at the group’s 95th annual convention M ay 19-20 at the K irk wood M otor Inn in Bismarck. He succeeds Morris T. Nelson, president o f the Scandia American Bank in Stanley. T. A . Roney, pres ident of the Foster County Bank & Trust Co., Carrington, moved up from vice president to president elect. The new vice president is John M cG in le y , p residen t, A m erican State Bank of Williston, and elected as treasurer was Burt Gerhart, pres ident, Mandan Security Bank. The complete convention report will appear in the July magazine. T r t l l c C Sale of Rare Coins Reliable and respected service for over 20 years North Dakota News Unibed Wäy U N IT E D WAY O F A M E R IC A C A M P A IG N I I I 19 • • • R obert Scott, Correspondent Banker 6 president and cashier. M r. Courson is manager o f the commercial bank ing department. W ANT ADS Rates 50 cents per word per insertion. Ad $2 for file numbers. Identity of file number advertisers cannot be revealed. Payment in advance, please. NORTHWESTERN BANKER 306-15th St., Des Moines, Iowa 50309 FOR SALE NCR 20-pocket proof machine with seven tapes plus master. Always under service. Contact Colleen Anderson at (218) 695-2802._______________________(FS) REDUCED IN PRICE: Reconditioned Brandt coin changers— Model 150 (front discharge); Model 250 (side discharge); other models available w ith quantity discounts. Banker’s Equipment Service, Inc. Phone (612)890-6661.____________________________ (FS) Two (2) rotary power check files. One 6600 White pur chased new; one Diebold reconditioned in 1976. Have been using both to date. $500 each FOB, York, NE. Contact Dale L. Adams at (402) 362-7411._____ (FS) NCR 152-70 teller machines. Completely recondition ed; 15 days free trial. Guaranteed. Freight paid. $695 each. Call (214) 757-7760.____________________ (FS) Burroughs TT-102 electronic on-line teller machines; 1-3 years old. $1850 each (original cost $3400). Call (214)757-7760._____________________________ (FS) NCR 775 proof machines, two years old, 4-12 pockets. Maintenance w ill transfer. $8900-$11,900. Available immediately. Call (214) 757-7760.______________(FS) NCR 490 desktop check encoders. Excellent condition. Guaranteed. Freight paid. $895 each. Call (214)757-7760._____________________________ (FS) Burroughs L9300 with three cassettes, 12KB. Ex cellent condition — $5500 or best offer. Call (512) 258-7101.__________________________________(FS) 12x60 mobile banking facility w ith Diebold 2-window drive-up attached. Two inside teller windows, lobby and private office. Heat and air conditioning. Contact The Dakota Bank, P.O. Box 5009, Grand Forks, ND. Phone (701) 746-1313._______________________ (FS) SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 BANKS FOR SALE NEWLIN BANK SALES, INC. holds exclusive authorization for the follow ing Midwestern Bank Opportunities . . , SOUTHERN MINNESOTA—3.8MM—$680,000 100% ownership-Cash orContract Includes Agency and Residence. SOUTHWESTERN MINNESOTA—3.6MM—$820,000 92% ownership-C ash-Agency included. WESTERN MINNESOTA—4.5MM—$650,000 100% ownership - Cash orContract Agency included. EASTERN IOWA—8.0MM—$1,250,000 85% ow nership-C ash- Holding Company and Agency included. SOUTHERN MINNESOTA—21 MM—$3,000,000 90% ownership-Cash orContract Agency included. CENTRAL ILLINOIS—24MM—$3,200,000 100% ownership - Cash or Contract Holding Company and Agency included. Selling banks exclusively fo r over20 years. Cal I or write: NEW LIN BANK SALES, INC. 8230 Hickman Road, S uite300 Des Moines, Iowa50322 (515)278-2891 (515)276-0038 ________________ (515)225-6854________________ PARTIAL LIST OF AVAILABLE POSITIONS □ I would like to sell my majority bank stock. CASHIER— Four to six years operational experience needed. Excellent location, good opportunity. $21,000 □ I would like to buy ma jority bank stock. Please Contact: J. Mason Henry #2— Generalist needed for new charts. Want an aggressive go-getter. $27,000 OFFICER—W ill have total and complete responsibil ity fo r industrial bank. All types of lending. $18,000 Charles E. Walters Co., Inc. TRUST OFFICER— Experience needed. W ill event ually take full responsibility for department. $21,000 P.O. Box1313, Omaha, Nebraska68101 Phone: (402)553-6400 AG OFFICER—Two years experience needed. Be#1 in department. Must be able to work with little super vision. $22,000 VP— Commercial lending. Must have strong lending and supervisory experience. $28,000 WANT TO BOY Addressograph equipment. Send information to Box 607, Boone, IA 50036.______________________(WTB) Interested in purchasing used safety deposit boxes. OPERATIONS— Ag bank in Minnesota. Oversee all operations. EDP experience a plus. $15,000 ALL FEES PAID BY MANAGEMENT FOR FURTHER INFORMATION Re s p o n d in c o n f id e n c e t o : Bank Division ROBERT HALF of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 eight years experience and knowledge of estate and probate law. W rite Malcolm Freeland, Freeland Fi nancial Service, 306 15th Street, Des Moines, IA 50309. (Employer pays service fee.)___________ (PW) AG LENDING OFFICER. . .S E M inn. . . . $16-18,000 POSITION AVAILABLE AG LOAN REP. . . O h io ............................$25-30,000 COMMERCIAL. . .Iowa ............................$20-25,000 AG BANKING CAREERS LOAN OFFICER. . , Iowa ..........................$15-20,000 If you are seeking a qualified officer for your bank, call Malcolm Freeland, president, Freeland Financial Service, Inc. at (515) 244-8163. Experienced people are available from $20,000 to $40,000. Employer pays service fee.________________________________ (PA) Junior Officers, with one to three years banking exper ience, wanted by com munity banks in upper midwest. Employer pays fee. Send resume in confidence to Malcolm Freeland, Freeland Financial Service, 306 Fifteenth Street, Des Moines, IA 50309. Phone (515) 244-8163._________________________________ (PA) Bank President needed in suburban Omaha (Neb.) bank. Assets $10 m illion. Great opportunity; salary negotiable. Send resume to file KBL, c /o Northwestern Banker.____________________________ (PA) BANKING CAREERS— If you are currently employed and wish to evaluate your career potential, my organi zation has openings in the $12,000 to $40,000 range in banks throughout the midwest. A ll positions job orders No. 101-175 are employers paid. Call or write Jim Hogan, Dunhill, Suite 1135, 730 2nd Ave. S., Minneapolis, MN 55402. Phone(612) 335-6451. (PA) Trust Officer— Experience necessary; law background desirable but not essential. Individual must be w illing and able to handle other bank responsibilities. Write file KBH, c /o Northwestern Banker.___________ (PA) Installment Loan Officer to head department. Strong managerial opportunity. Call Brenton Bank, Cedar Rapids, (319)364-9135.______________________(PA) BANK CONTROLLER WANTED: Controller fo r $60 m illion central Iowa bank with one-bank holding com pany and other operating entities. Prefer CPA with one to five years experience. Salary open depending upon experience and qualifications. Send resume to K.M.M., B ox65133, West Des Moines, IA 50265. (PA) Our credit union is looking for someone to take charge in areas of electronic funds transfer. We are an aggressive credit union and desire to hire an experienced person to move us rapidly for ward in this growing field. The person we select will be responsible for the further development of our current programs in the areas of EDP, direct deposit, ATMs, demand deposit accounts (share drafts) and w ill come to us with complete working knowledge in these areas. Your reply to this ad should contain complete job and training biography, current and required wage requirements. Applications w ill be ac cepted through June 30,1980. All replies should be mailed to: Layton Stump, Manager John Deere Employees Credit Union 1827 Ansborough Avenue Waterloo, Iowa 50704 Phone (319) 235-4441 LOAN OFFICER. . . W. Iowa ....................$15-18,000 CREDIT SUPERVISOR. . . O h io ................$17-21,000 Since 1968, banks and other ag-related employers have been paying us to find the personnel they need. For more information, give Linda (our banking spec ialist) a call today. 3 OH CAREERS, IN C m J AGRICULTURAL PERSONNEL RECRUITERS (515)394-3145_____________ New Hampton, IA 50659 POSITION AVAILABLE AGRI LOAN— Rural Rocky Mountain bank needs strong ag lender for second posi tion. Close to community of 10,000 pop ulation................................................... $25,000 INVESTMENT HEAD— Handle bond portfolio for major bank. No underwriting experi ence necessary....................................... $30,000 TRUST OPERATIONS— Excellent opportunity in major midwestern bank. Prefer five years experience with large bank. . . . $25,000 TRUST INVESTMENT HEAD—Supervise four analysts and handle $350MM portfolio. W ill consider senior analyst in large department..............................................$30,000 JUNIOR OPERATIONS—Small Iowa bank is seeking officer with one to tw o years experienceand farm background.............. $16,000 SENIOR LOAN OFFICER—$50MM suburban bank in major midwest city desires a strong commercial lender with some real estate background. Advancement opportunity............................................. $30,000 INSTALMENT LOAN—Small suburban Iowa bank. Prefer two to three years consum er loan experience combined w ith know ledge of operations.................................$18,000 OPERATIONS OFFICER—Second position with a major midwestern bank. Re sponsibilities include proof and transit, bookkeeping department and cash man agement...................................................$25,000 Please forward full resume and a salary history. A ll in quiries confidential. TOM HAGAN & ASSOCIATES OF KANSAS CITY P.O. Box 12346 / 2024 Swift North Kansas City, Missouri 64116 ________________ (816)474-6874________________ Vol. 9 No. 5 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 per year. Second class postage paid at Des Moines, Iowa. https://fraser.stlouisfed.org Address all mail subscriptions, changes of address [Form 3579], manuscripts, mail items to above address. Federal Reserve Bank of St. Louis
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