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Des Moines, Iowa

Vol. 12 No. 6

May 30,1983

H arris’ Re-hearing Petition Upheld
A R R IS Bank, Chicago, was no­
tified M ay 19 that Secretary of
Labor Raymond J. Donovan has or­
dered an adm inistrative law judge
to reopen an earlier hearing into
charges that the bank engaged in
discrim inatory employment prac­
tices.
In his ruling, the Secretary noted
that the bank had been treated un­
fairly when the judge prohibited it
from presenting its statistical de­
fense.
In the 1979 hearing, Judge Rhea
M. Burrow took that action as ap­
parent punishment for the bank’s re­
fusal to turn over tw o internal per­
sonnel studies. The bank com m is­
sioned these studies on advice o f
counsel in anticipation o f litigation,
and as such they were privileged
documents.
The Secretary now agrees with the
bank’s view on that crucial issue.
“ ...I find that the ALJ mischaracterized the (Harris Bank studies)
as part o f Harris Bank’s affirm ative
action program, when the m ost rea­
sonable inference from all the facts
is that they were prepared in an­
ticipation o f litigation,” the Sec­
retary ruled.
In ordering the ALJ to reopen the
hearing, the Secretary said, “ It does
not make sense, it seems to me, to
decide a com plex case such as this
without giving both sides a full op­
portunity to present statistical

H

evidence and their analysis and in­
terpretation o f it.”
The basis o f the bank’s case,
which now can be presented, rests
on a study perform ed by Dr. Harry
V. Roberts o f the University o f Chi­
cago. His four-volume analysis of
the bank’s personnel practices, us­
ing the m ost m odem research meth­
ods, showed that Harris had been
hiring and prom oting em ployees on
the basis o f their jo b qualifications.
He found no evidence o f system ic

m ent’s charges. W e are optim istic
that once our side o f the issue has
been fully and fairly aired, a recom ­
mendation favorable to the bank will
ensue.”
In his original January 31, 1981
recommendation to the Secretary,
the judge wrote that the bank should
pay $12.1 m illion in back pay to an
alleged “ affected class” o f female
and m inority employees. Since the
Secretary has ruled that the case has
not yet been heard in full, that re­
com m endation is effectively ne­
gated.
In his conclusion, the Secretary
established procedures for carrying
out his order. Should the bank choose
not to com ply, it would be debarred,
not on the merits o f the case, but for
failure to cooperate with those pro­
cedures.
Mr. Stephens said that the bank
would be pleased to com ply with the
Secretary’s order.
□

Iowa News
discrim ination within the bank.
In commmenting on Secretary
D onovan’s ruling, John L. Stephens,
executive vice president o f public
and employee relations, said, “ We
are extrem ely gratified at this devel­
opment, because it confirm s what
we have been saying all along — that
we had no opportunity to present
our own statistical case. W e look for­
ward to this opportunity to prove
that we are not guilty o f the govern­

BELLEVU E: Tom C. Dunlap will be
m oving soon to Bellevue as chair­
man of Andrew Savings Bank. Lom a
H. W issink, previous chairman, was
elected an honorary director. A ll
other officers remain the same. Mr.
Dunlap, previously chairman and
president o f the South Story Bank &
Trust, Slater, will remain as chair­
man of that bank and continues to
own both banks. A new bank build­
ing is under construction in Bellevue
with com pletion expected sometime

CALL ON THE “PERFORMANCE TEA M ”
where common transactions
are handled uncommonly well.

m

s

m

F IR S T N A T IO N A L L IN C O L N
13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C.

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Federal Reserve Bank of St. Louis

2

with City National Bank and Trust
Co. in H astings, has joined the A l­
bion National Bank as senior vice
president. He has been em ployed in
banking in Blue H ill and Hastings
for 12 years.

Professional ...
Responsive...
Call Mark Christen for
any correspondent service.
Call toll free (800) 622-7262

Valley National Bank «
DES MOINES, IOWA 50304

A BANKS OF IOWA BANK

Member FDIC

this fall. Andrew Savings Bank re­
cently m oved its charter from An­
drew, with full service offices now
operating in Andrew and LaM otte.
GEORGE: R.W . Rossow, a founder
and vice president o f the George
State Bank from 1934 until his
retirement in 1977, died M ay 11. He
was 84.
M ISS O U R I V A L L E Y : P eoples
State Bank recently elected Paul J.
Kovar as president. He fills the
vacancy caused by the death o f John
A . Kovar. Paul K ovar joined the
bank in 1967 after retiring from the
U.S. Arm y as a colonel in the judge
advocate generals corp. A lso ap­
pointed were Donald F. Schwertley
as chairman and Everett P. Brown
as executive vice president. Mr.

Schwertley has been with the bank
since 1937. Mr. Brown joined in
1976.
SLATER: John W alther has been
elected president and director o f
South Story Bank & Trust, accor­
ding to Tom C. Dunlap, chairman.
Mr. W alther has been the president
and chief executive officer o f the
bank for the past 17 years. Mr. Dun­
lap will continue as chairman along
w ith serving as chairman o f Andrew
Savings Bank, Bellevue.
W ATERLOO: R.K . Sverdahl, chair­
man and president o f the Peoples
Bank and Trust Company, has an­
nounced the election o f Richard M.
Fischer as vice president in the lend­
ing division and the addition o f C.A.
Petersen as assistant vice president
and personnel director. Mr. Fischer
joined the bank in 1969 as an officer
trainee. Mr. Petersen previously was
with First Bank o f Rapid City, S.D.

Nebraska News
The Nebraska Bankers Associa­
tion Presidents G olf Tournament is
being held Thursday, June 2, at
Lochland Country Club in Hastings.
Tee-off times start at 9:00 a.m. For
reservations contact Marilyn Sladky at 402-474-1555.
# * *

ASK
JOHN MANGOLD
to make MNB
work for you.
Toll free
1- 800- 332-5991

Merchants
ififc
National Bank 151
Member F.D.I.C.


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Federal Reserve Bank of St. Louis

A ‘BANKS OF IOWA’ BANK

A va Beeman o f First National
Lincoln has been elected president o f
the Lincoln Chapter o f the American
Institute o f Banking, Inc., for the
1983-84 year. She succeeds Helen
Adam s o f Gateway Bank & Trust,
who will assume the position o f past
president on the A IB board.
Other officers elected to the Lin­
coln Chapter were Craig Champion
o f National Bank o f Commerce, vice
president o f education; Linda Mason
of Lincoln Bank East, vice president
o f finance; Steve Schmidt o f First
National Lincoln, vice president of
marketing, and Marsha Aurich of
Citizens State Bank, secretary.
ALBION : Stan W ieland, form erly

CROFTON: Crofton State Bank
recently received approval to m ove
its place o f business from 2nd and
Main to 2nd and Kansas, in Crofton.
GRAN D ISLAN D : Overland Na­
tional Bank has announced the elec­
tion o f Michael T. H iggins as chair­
man and Thomas E. Henning as chief
executive officer and president. Mr.
H iggins has served as president of
the bank since 1978. Mr. Henning
served as credit analyst for United
M issouri Bank o f Kansas City,
N .A., before joining National Bank
o f Commerce in Lincoln in 1980. He
m ost recently held the position of
vice president in the correspondent
banking division.
M IN DEN: First National Bank re­
cently celebrated its 100th anniver­
sary with an open house. Between
800 and 900 persons were served
and prizes were given away.
R ISIN G CITY: Larry C. Samson,
previously with W estern Bank, Coos
Bay, Oregon, has joined Farmers
State Bank as vice president and
loan officer.
TECUM SEH: Jay L ovitt has been
elected president and cashier o f the
Johnson County Bank. Mr. L ovitt
form erly was president o f the Bank
o f Sterling.

Minnesota News
HUTCHINSON: Arthur L. Cooper
was recently elected president, chief
executive officer and director o f
First National Bank o f Hutchinson.
He succeeds A .E . W itte, who has ad­
vanced to chairman o f the board.
M ARSH ALL: George M. Leland
has been elected managing director
o f First Bank System ’s southwest
M innesota banks, effective June 15.
O fficed in Marshall, he will be direc­
tor o f the banks o f Lakefield, Luverne, Pipestone, Marshall, W indom
and W orthington. Mr. Leland cur­
rently is chairman and chief ex-

SERVING PROFESSIONALLY
Banking, Financial & Business Personnel
Iowa and Nationwide

CAPITAL PERSONNEL SERVICE
714 U.C.B. Building, 515-283-2545
Des Moines, Iowa 50309

*

Hutton
One Carriers Building
Des Moines, Iowa 50309
Telephone: (515) 243-1203

S&P: AA +
MOODY’S: Aa

NEW ISSUE

We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion:

#

$10,800,000
DAVENPORT, IOWA
General Obligation Corporate Bonds
DATED:

June 1,1983

DENOMINATION:

$5,000

Both principal and semiannual interest (June 1 and December 1; first coupon due December 1,1983) payable at
the office of the City Treasurer, Davenport, Iowa.
IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL
PRESENT FEDERAL INCOME TAXES.
MATURITIES
$300,000
$300,000
300,000
400,000
400,000
400,000
400,000
500,000
$500,000

0

$500,000
*Callable

9 1/2%
June 1, 1985
6.00
10 %
6.40
June 1,1986
June 1,1987
6.90
June 1,1988
7.10
7.40
June 1,1989
June 1,1990
7.60
June 1, 1991
7.85
June 1, 1992
8.10
9 1/2%
June 1, 1993
8.30
8.40%
June 1, 1994
8.40
June 1, 1994 at 102% declining to 100%

$600,000
$600,000
$600,000
600,000
700,000
700,000
700,000
700,000
800,000
$800,000

8.60%
June 1,1995
8.75%
June 1, 1996
9%
June 1, 1997
June 1, 1998
June 1,1999
June 1, 2000
June 1, 2001
June 1, 2002
June 1, 2003
7%
June 1, 2004

8.60*
8.75*
NRO*
NRO*
NRO*
NRO*
NRO*
NRO*
NRO*
NRO*

LEGALITY TO BE APPROVED BY BELIN, HARRIS, HELMICK & HEARTNEY,
DES MOINES, IOWA
^
•

^

The City of Davenport, the principal city of eastern Iowa and the county seat of Scott County, is located on the Iowa bank of the Mississippi
River midway between Chicago and Des Moines. Davenport is the 3rd largest city in Iowa, and is the major city of the “Quad City Metropolitan
Area” which includes Scott, Rock Island and Henry Counties in both Iowa and Illinois. The major communities, apart from Davenport, in­
cludes Bettendorf, Iowa and Rock Island, Moline and East Moline, Illinois. Davenport has a population of 103,264 and ranks high as a retail
and business center. Davenport has a municipal airport servicing private, commuter and corporate air craft traffic with commercial air serviced
by the Quad-City airport. Major employers in Davenport include: Caterpillar Tractor Co. (parts for earth-moving equipment); Oscar Mayer &
Company, Inc. (meat packers) and Ralston Purina Company (feed & hot cereals). Davenport is served by four banks with deposits over
$604,483,570 and three savings and loan associations with deposits exceeding $449,510,853.
These bonds are being issued to provide a portion of the funds necessary to construct various improvements in the City. These improvements in­
clude construction of streets and sewers, construction of urban transportation facilities, construction of a Civic Activity Center, various park pro­
jects and improvements to various municipal buildings. A portion of the proceeds are to be used to prepay a Parking Revenue Bond Issue.

#

•

FINANCIAL STATEMENT
Actual Valuation, 1982
Assessed Valuation, 1982
Net Direct Debt, including this issue
Net Direct Overlapping & Underlying Debt
Population: 103,264
Direct Debt per capita:
$307.27
Total Debt per capita:
$410.46

$2,306,222,684.00
1,811,158,685.00
31.729.957.00
42.386.102.00

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 are based.
Bonds of a particular m aturity may or may not s till be available or may now be available at a price or yield different from that indicated above.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Supplement to the Northwestern Banker Newsletter 5-30-83


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Federal Reserve Bank of St. Louis

•

Thank
You!
To all my friends, business acquaintances

£

and customers . . . a personal thank you for
helping build Financial Systems Inc. over

•

the last seven years. A s of April 15, I
resigned as Chairman of FSI to start a new
consulting business that will specialize in
microcomputer support, including com­
puter seminars, training, software evalua-

^

tion and management consulting. Our new
offices officially open June 1 with more in­
formation forthcoming. A^ain, I thank you
for your business in the past and look for-

•

ward to serving you a^ain in the future.

/

u) a lò &o/J

David T. Waldron • P.O. Box 1358 • Kearney, NE • 308-237-3175

□
D

#

D

%

Please send inform ation on your services.
Please send inform ation on the seminars below.
D June 7, 8 BICS Institute - Cedar Rapids, IA
D June 27, 28 The Lodge at Okoboji, IA
We are interested in future seminars.

Name ________________________ _____________________________________________Phone
B a n k _____________________________________________________________________________
Address

_________________________________________________________________________


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Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 5/30/83

COMPUTER LITERACY

The Key to Success in the 80’s

POSTAGE
REQUIRED

David T. Waldron
FINANCIAL DESIGNS LTD.
P.O. Box 1358
Kearney, NE 68847

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Federal Reserve Bank of St. Louis

<zdfo[dsx a n d czdJ~i5.ocLatzi
Bank Consultants
Specializing in Bank Acquisitions
515-232-0814
P.O. Box 450 405 Main Ames, Iowa 50010
D o n a l d E . H o l d e r , Principal

ecutive officer o f First Bank W est­
ern Montana, Missoula.

An important new profit center
for your bank:
■

Contact:

Leroy Bell or
Milt Hennick
319 291-5412

a co m p uterized
local billing/credit service

-

M IN N E APO LIS: The board o f
First Bank System , Inc., has elected
Howard W . M oody senior vice presi­
315 East 5th S t • W aterloo, IA 5 0 7 0 4
Member Federal Reserve System FDIC
dent o f examinations and audit and
David D. Smith vice president o f ex­
Shore National Bank, where he served
Montana News
aminations. Mr. M oody m ost recent­
for the past five-and-a-half years. G R E A T FALLS: The board o f direc­
ly was associated with Ernst &
Prior to that he was at Continental tors o f Bank o f Montana System has
W hinney, Albuquerque, New M ex­
Illinois National Bank & Trust Com­ elected Samuel R. Noel president o f
ico. Mr. Smith form erly was vice
pany for 15 years.
the corporation, announced Stephen
president and head o f a credit ex­
Adam s, chairman and chief execu­
amination department o f Bank o f
tive officer. Mr. Noel began his
America.
South Dakota News
banking career in 1956. He joined
HURON: John Cromwell has been
M IN N EAPOLIS: James D. Sherard elected cashier and supervisor o f in­ Bank o f Montana System on June
17, 1982, as executive vice presi­
has been named vice president and
ternal bank operations by the board dent, previously serving as vice
manager o f First Bank M inneapolis’
o f Farmers and Merchants Bank, an­
new Ridgedale office, which is sche­ nounced Bruce L. Odson, president president and manager o f the cor­
respondent bank departm ent o f
duled to open early next month. He
and chief executive officer. Mr. Seattle First National Bank.
had been vice president in the bank’s
Cromwell joins the bank from Hel­
m etropolitan corporate banking
ena, M ont., and has extensive bank­
division. Mr. Sherard first joined the
ing management experience with
bank in 1970 as a market analyst.
banks in the First Bank System.

National Bank of W aterloo

OW ATONNA: John R. Connaker
has been elected as agricultural loan
officer at the main bank o f Norwest
Bank Owatonna, N .A., according to
Kenneth E. W ilcox, president. Mr.
Connaker was em ployed at Norwest
Bank Moorhead before his transfer
to Owatonna.
ST. CLOUD: W . M erton Dresser
has been elected president o f Nor­
west Bank St. Cloud, N .A., effective
June 1. He will succeed Tim V. Stem,
who has been named president o f
Norwest Bank Fargo, N .A. Mr.
Dresser currently is president and
chief executive officer o f Norwest
Bank M etroSouth, N .A., Minneap­
olis. He began his banking career in
1947 at Norwest Bank Minneapolis
where he served until 1972 when he
was named group vice president o f
Norwest Bank Midland, N .A. He
was elected president o f the south
Minneapolis bank in 1976.

Illinois News
CHICAGO: Richard G. Walker has
been named president o f the Lake
View Trust & Savings Bank, a Lane
bank, announced W illiam N. Lane
III, chairman. Mr. Walker, 48, was
senior executive vice president and
chief adm inistrative officer at Lake

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Federal Reserve Bank of St. Louis

North Dakota News
Darold Peterson was elected to
the presidency o f the N orth Dakota
Bankers Association during the 98th
annual convention in Grand Forks
on M ay 24. Mr. Peterson is pres­
ident o f the Lakeside State Bank in
New Town and succeeds John McGinley, president o f the American
State Bank & Trust Company in
W illiston, who remains on the board
o f directors as immediate past presi­
dent.
Advanced to president-elect was
Robert W estbee, president, First
Bank, Bismark, and Les Nesvig,
president o f First State Bank of
LaMoure, was elected vice presi­
dent.
In other election activity, W ayne
Stroup, president o f the Garrison
State Bank, was elected to serve as
North Dakota A B A Council vice
president, and M orris Nelson, presi­
dent o f Scandia Am erican Bank in
Stanley, was elected to a two year
term on the A B A Council.
In 1984 the N D BA will partici­
pate in a join t convention with the
South Dakota Bankers Association
July 5, 6, & 7 in Colorado Springs,
Colorado, to commemorate the 100th
year since the form ing o f the Dakota
Territory Bankers Association.

C o m e to
the quality
investment
specialists in
Nebraska
and Iowa.

\ j u e ’reyo ur
* *
best authorities
for bond portfolio
m anagem ent
recommendations.
O ur quality is your key
to success.

Jeff Goble
■J

Dave Dickens

Investm ent Banking D ivision

U N IT E D M IS S O U R I BANK
Member FDIC

q

|

¡(a ilS a S C i t y I U .

10th and Grand o P.O. Box 226
Kansas City, Missouri 64141
(816) 556-7200

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.

BANKERS AVAILABLE

POSITIONS AVAILABLE

CEO w ith proven high performance record in $40 m illion
com m unity bank seeks new opportunity. . .Salary $45,000

CEO for $40 m illion northern Iowa bank. Must have solid
ag credit and adm inistrative experience. Salary to $45,000

Commercial Lenders w ith experience ranging from three
to 20 years..................................................Salary to $50,000

CEO for western Illinois bank o f $30 m illion. Emphasis on
ag lending............................................................ Salary Open

Senior Ag Lenders w ith experience ranging from 5 to 20
years....................................................... .. Salary to $40,000

Commercial Lenders fo r eastern Iowa banks of $70 million
up...................................................................Salary to $40,000

Junior Ag Lenders w ith one to five years experience.
.....................................................................Salary to $25,000

Commercial Lender for $100 m illion W isconsin bank. Pre­
fer experienced lender from Wisconsin, eastern Min­
nesota or northern Illin o is............................. Salary $30,000

Administrative Officers w ith major banking experience.
.....................................................................Salary to $50,000
Installment Lenders w ith over five years banking ex­
perience......................................................Salary to $25,000

Linda: 515/394-5827
Jeannia: 515/263-9598 if
New Hampton, la. 50659 no answer, 712/779-3567
I
Massena, Iowa 50853

aqn carers, inc.
■ J THE ORIGINAL AGRICULTURAL RECRUITER

Operations people with over five years experience.............
.....................................................................Salary to $30,000
If you are considering an additional officer, we have
dozens of qualified applicants listed in most job cate­
gories. Write or call Malcolm Freeland c/o Freeland Finan­
cial Services, Inc., 1032 Carriers Bldg., Des Moines, IA
50309. Phone 515/282-6462. Employer pays reasonable fee.

FOR SALE
EXECUTIVE BANK RECRUITING
Why Not a Higher Paying Position?
Call us and lets talk about your banking career.

R.E.B. & Associates
Executive Search Consultants
13625 C. St., Omaha, Nebraska 68144
Phone: 402/333-8248 or 333-6604

Buy • Sell • Lease
All IBM Systems and Peripherals
We specialize in Banking Equipment
Immediate Availability
Guaranteed M/A
S/4300
1255-1, II, III
S/34, 38
1419-1
3614-All Models
S/3600
S/4700
3624-All Models
Diebold 910
NCR 1780
Contact: Tom Garlie
A s s o c ia te d C o m p u te rs , Inc.
P.O. Box 120 • Rogers, MN 55374-0120 . (612) 428-2285

3 BURROUGHS L9 MACHINES—1 not on maintenance but
in use $1,000.00; 9500 on maintenance + reader $2,000.00;
9900 on maintenance + reader $3,000.00; S1200 Proof on
maintenance $1,500.00. Contact Lois, Bank o f Toronto,
SD. Phone: 605/794-4811.
(FS)
EASTERN MISSOURI STATE BANK, 80% ownership of
bank, 1.00% of approved holding company, assets over 10
m illion, 1.75 tim es book value. Price $1,300,000. Serious
and qualified buyers only. W rite National Banking Com­
pany, P.O. Box 14634, West Omaha Station, Omaha,
Nebraska 68124.
(FS)
Six used nests of SAFETY DEPOSIT BOXES. For more in­
form ation contact Ralph Adams, President, Chambers
State Bank, Chambers, NE 68725. Phone: 402/482-5222.
(FS)

TOWN HOMES FOR SALE
At Pre-Construction Prices
W ith 121/2 % * Financing
Available
DWAYNE SMITH
Paradise Properties
Box S Dillon, Colorado 80435
Phone 1-800-922-2590

POSITION AVAILABLE

Bank a ffiliated agency has immediate opening for ex­
perienced INSURANCE AGENT. Please send resume or
direct inquiries to: Larry Stobbs, P.O. Box 69, North Platte,
NE 69103. Phone: 308/532-5570.____________________ (PA)
PRESIDENT—$24 m illion bank in Fort Madison, Iowa.
Must have lending background and ability to produce a
high performance bank. Contact: Larry Wenzl, P.O. Box
1622, Des Moines, Iowa 50306. Phone: 515/244-5111. (PA)
Rural bank seeks AUDITOR w ith compliance experience.
Prefer experience in $50 million bank or larger. Examina­
tion or audit team background useful. Write file TBW, c/o
Northwestern Banker.
(PA)
INSTALLMENT LOAN MANAGER for $75 million west central Minnesota bank. Send resume to file TBX, c/o North­
western Banker.
(PA)
CEO POSITION available for $40-$50 m illion midwestern
bank. Agricultural lending experience necessary. Salary
open. Send resume to file TBY, c/o Northwestern Banker.

________________________________________ (PA)
AGRICULTURAL LOAN OFFICER— Excellent opportunity
in a growth-oriented company, specializing in large
package operating financing. Five years minimum ex­
perience, lim ited travel, above average salary, complete
benefit package. Send resume to: Wells Fargo Ag Credit,
P.O. Box 189, Billings, MT 59103.
(PA)
NEED VICE PRESIDENT—Contact Producers Savings
Bank, Box 536, Green Mountain, IA 50637.
(PA)

Ag Rep and o ffice manager needed by central Iowa bank.
......................................................................... . Salary $25,000
Ag Rep w ith at least three to five years bank experience for
northern Illinois com m unity bank............Salary to $28,000
Audltor/CPA for major bank outside o f Des Moines in
Iowa...............................................................Salary to $25,000
Ag Lender for southern M innesota bank located in major
tow n.............................................................. Salary to $30,000
Trust Officer w ith law degree fo r eastern Iowa bank. Must
have experience in a commercial b a n k .. . Salary to $35,000
Second man for southeast Iowa bank, located in major
c ity.................................................................... Salary $25,000
Second person for Colorado bank located in resort area.
Must have operations and some lending background. Posi­
tion could lead to president. Prefer resident o f Mountain
States or western Nebraska..........................Salary $26,000
Operations person w ith good adm inistrative a bility for
Twin Cities suburban bank. Must have demonstrated lead­
ership abilitie s............................................ Salary to $30,000
Operatlons/lnsurance position for northwest Iowa com­
m unity bank. Lending experience a plus.
Salary $25,000
W rite or call Malcolm Freeland c/o Freeland Financial Ser­
vices, Inc., 1032 Carriers Bldg., Des Moines, IA 50309.
Phone 515/282-6462. Employer pays fee.

REPOSSESSIONS

‘ Subject To Change

A ffiliated Midwest Bancs Inc., a progressive group of six
banks is looking for a COMMERCIAL LOAN OFFICER for a
$33 million bank in S.E. Nebraska; and an AGRICULTURAL
LOAN OFFICER for a $60 m illion bank in central Iowa.
Prefer 3-5 years experience for both positions. Salaries
commensurate w ith experience. Send resumes to Jack
Ayres, P.O. Box 486, Bellevue, N E 68005.
(PA)

CEO fo r com m unity bank in eastern Iowa. Must be ag-oriented and desire to live in sm aller town. . Salary to $32,000

AG LOAN OFFICER
$85 m illion southeastern Montana bank has an
immediate opening for an AG LOAN OFFICER
w ith ability to take charge of ag loan portfolio. Ex­
perience very important. Must be able to deal with
ag people and be fam iliar w ith ag credit, real
estate mortgages, cash flow projections. Please
send resume and salary requirements to:
First Security Bank & Trust
Box 250
Miles City, Montana 59301
(PA)

We are professional truck people w ith over 30
years experience dealing w ith repossessed
trucks, semi tractors and trailers. No obligation
for our advice.

MURPHY TRUCK & TRAILER SALES
15-5th Ave. S.E.
515/456-2511
HAMPTON, IOWA 50441

BANKING
If you would like to evaluate your career, my
clients across the country have a wide range
of needs in operations, lending, and trust.
Salaries are in the $20-80,000 range. Clients
pay our service charge. Call or write:
W alt Heyne, Dunhill of Fayetteville
Box 1570, Rogers, Arkansas 72756
Phone: 501/636-8578

POSITIONS AVAILABLE
SECOND OFFICER—handle comm’l and ag credits for
$40MM com m unity bank. O pportunity to assume #1 posi­
tion.
$38,000
OPERATIONS OFFICER—#3 position in $45MM bank. Re­
quires degree and 5 yrs. + experience in sim ilar size bank.
$32,000

COMMERCIAL LOAN OFFICER
Must have a minimum of 3 years commercial lend­
ing experience preferably in a commercial bank.
Position requires a working knowledge of State
and Federal laws and regulations as they relate to
banking. Responsibilities w ill include originating,
negotiating, servicing, supervising, and collecting
loans.
Excellent benefits and salary commensurate with
experience. All inquiries w ill be kept in strict con­
fidence.
Contact Lois Kriebs, AVP, Personnel, (515)
245-6142, for an interview or send resume to the
Personnel Dept.
Valley National Bank
6th & Walnut
P.O. Box 906
Des Moines, Iowa 50304
An Equal Opportunity Employer

EXECUTIVE VICE PRESIDENT—excellent lending and ad­
m inistrative skills required for aggressive $50MM bank.
$45,000
CASHIER— rural $50MM bank. Position offers advance­
ment possibilities. Prefer degree and asset/liability
management experience.
$30,000
AGRI-LOAN—$30MM com m unity bank close to large ur­
ban area. Handle ag and some comm’l credits.
$28,000
INSTALLMENT LOAN— bank experience required. Enter
as #2 in $4MM dept, and assume management of dept,
w ithin one yr.
$18,000
Resume' and salary history requested.

TOM HAGAN & ASSOCIATES
of Kansas City
2024 S w ift - Box 12346
North Kansas City, MO 64116
816/474-6874
“ Serving the Banking Industry Since 1970”

Voi. 12 No. 6 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, $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.

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