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p Vol. 17 No. 7_____________ ______ Des Moines, Iowa May 30,1988 D istrict Farm Income Shows Gains B m • _ ^ E SU L T S of a Federal Reserve ^ 1 Bank of Minneapolis survey confirm that area farm income in the first quarter was higher than a year ago. Federal Reserve economist Stan ley L. Graham reports that more than 60 percent of the rural bankers responding to the Fed’s recent survey said first-quarter farm income was greater than a year ago. Only 8 percent said it was lower. As in previous surveys, the bankers attri buted the income gains to: # • £ 0 f f • • • • • higher cattle prices; higher prices for most crops; higher crop yields, and higher government payments. Many area farmers also benefited from rising farmland values. Be tween March, 1987 and March, 1988, farmland values rose, on aver age, by 5.5 percent for nonirrigated land and 2.5 percent for pasture and grazing land. The largest increases were reported for farmland in Min nesota and South Dakota. Farmland values in Montana, North Dakota, and northwestern Wisconsin rose very little or declined a bit, on aver age. Area farmers continued to im prove their debt position in the first quarter. Of the bankers responding, 28 percent said farmers repaid their loans at a faster-than-normal rate; only 5 percent said repayment was slower than normal. As a result, agricultural banks have seen a rise in the quality of their farm loan port folios. The improved debt position com bined with increased income contri buted to higher farm spending than a year ago. Of the surveyed bankers, 36 percent said farm spending on all items was greater than a year ago, while only 6 percent said spending was less. “Now that farmers seem more comfortable with their debt levels and more confident about the farm economy’s future, they are spending more, mainly on farm machinery and equipment,” Mr. Graham says. Most of the bankers expect farm profits in the second quarter to at least match 1987’s performance, and perhaps even exceed it. Prices for cattle and most crops are expected to stay above levels of a year ago. Some bankers, however, are con cerned that insufficient moisture might lower crop yields in the months ahead. The survey results are based on the late-March responses of 160 bankers in rural areas of the Ninth Federal Reserve District, which in cludes Minnesota, Montana, North Dakota, South Dakota, northwest ern Wisconsin, and the Upper Penin sula of Michigan. □ FirsTier k n i ... <mmm FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AUDUBON: Rick Harms recently joined the Audubon State Bank as executive vice president. He pre viously served as vice president at the Norwest Bank in Hastings, Neb., and has also been associated with financial institutions in Omaha and Harlan, la. DUBUQUE: David D. Sullivan has been elected vice president, invest ments at American Trust and Sav ings Bank. He previously was vice president of investments for First Colonial Bankshares of Chicago. He held a similar position with Millikin National Bank, Decatur, 111. Nebraska News New officers of the E ast Central Nebraska Bank Administration In stitute have been announced. They are: President—Daryl Wilton, First National Bank of Schuyler; Vice President-Education—Bob Frerichs, First National Bank of Columbus; Vice President-Finance—Geraldine D itter, Bank of Lindsay; Vice President-Communications—Diane Hofpar, First National Bank of Omaha—David City branch; Vice President-Membership—Gary Sut ton, First National Bank of Colum bus; Past President—Terry Novak, First National Bank of Omaha— David City branch. OMAHA: Donald D. Adams, vice More o f what it takes to serve you well. Correspondent Services _ Iowa News ^ FirsTier*iBanks Lincoln • Omaha HkH Norwest Bank Des Moines, N.A. mmmmm NORW ESr BANKS mmmmm Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC nui Teamwork: one of the reasons we’re first in Iowa. Reliable and respected service for over 20 years Used by bankers throughout the midwest Dorothea Wolfe John Rigler president of government relations for FirsTier Financial, Inc., will retire from the corporation effective July 1. He has announced plans to open his own consulting business as a specialist in governmental rela tions. He will continue to work with FirsTier on a contractual basis as a consultant. He has been with FirsTier for 15 years. Minnesota News M INNEAPOLIS: Richard E. Korinke has been appointed vice president of the Minneapolis office of New E n g lan d C om m ercial F in an ce Group, an affiliate of the Bank of New England. He previously served as assistant vice president, business Dennis Earhart MNB Correspondent Banker Together We Can Accomplish Great Things Estate Appraisals Purchase of Collections Sale of Rare Coins services division, Marquette Bank, Minneapolis. MINNEAPOLIS: Benjamin S. Jaffray has been elected chairman of the board of Resource Bank & Trust. Before joining Resource, Mr. Jaffray was a director and senior vice president, finance, at Cargill, Inc. M IN N EA PO LIS: Norwest Bank Minnesota has named Dennis L. Meek president of its Norwest Center office in downtown Minnea polis. He was president of the Olson Highway and Golden Valley offices of Norwest Bank Minnesota. Mr. Meek succeeds John R. Harden, who has been promoted to vice president and director of consumer banking for the Norwest seven-state banking region. Mr. Meek joined Norwest in 1975 in Norfolk, Neb. and has also served in St. Cloud. Mr. Harden started with Norwest in Blooming ton in 1970 and joined the corporate staff in Minneapolis in 1973. He joined the Minneapolis bank in 1979 and was named president in 1987. M INNEAPOLIS: David M. Gilman has been named vice president and north m arket m anager, sm all business banking, for First Bank System, and managing officer for First Bank, Robbinsdale. He was formerly president and CEO of Marine Bank Bloomington, a recent F B S acquisition now called First Bank Bloomington. He replaces Kenneth C. Sheehan, managing of- Ben E . Marlenee Coins 913 Locust Des M oines , Iowa 50309 515-243-8064 ficer of the First Bank, Robbinsdale office, who retired on May 31. M IN N EA P O LIS: Duncan M ac Millan and National City Bancorporation announced on May 18 that they have signed a contract for Mr. MacMillan to purchase National Ci ty Bank of Ridgedale. Mr. Mac Millan is chairman of the American State Bank of Bloomington, Minn. The bank will change its name to American Community Bank of Ridgedale, N.A. The acquisition re quires federal approvals and is ex pected to be completed this fall. No| changes in officers or staff are an ticipated. The bank has assets of $56 million. Wisconsin News A PPLETO N : Ralph J . Huiras, chairman and president of Colonial Bancorporation, Inc., Thiensville, and Gus A. Zuehlke, chairman and CEO of Valley Bancorporation, Ap pleton, jointly announced on May 19 that the two organizations have entered into an agreement in princi ple for a merger of Colonial with Valley in which Colonial share holders will receive Valley common stock. The transaction is valued at approximately $16.6 million, and is subject to negotiation of definitive For Professional Correspondent Service Call 1-800-622-7262 Call 319-368-4789 or toll free 1-800-332-5991 Strength Eastern |owa Merchants National Bank is https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cedar Rapids. Iowa 52401 Member F 0 1C A BANKS OF IOWA BANK T h ereJs A Difference In Banks... Valley National Bank $ Main Office - Sixth and Walnut OES MOINES, IOWA 50304 A BANKS OF IOWA BANK Member FDIC JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President 9 ® ® (J ® Iowa Natural Heritage 1989 Calendar ' bank m ^¿divertislngf every day of everymonth. \ r \ The Iowa ^cmiral Heritage Foundation is producin< calendar highlighting the natural beauty and heritage of Iowa. The 1989 calendar will feature new photography with different scene each month. When open the size ¥rillj»e 12" x 20" which includes a 2 x 12"areail>1mprintV|Ou|iny/idual bank name -"t \ JL. 1 \ \ ^ \ along fvitl up to three additional lines of copy. The Iowa Naturayierrtdge calendar an effective method to d d v # tflf your bank’s service or productTo your customers, while helping support the \ I O \ work of the Iowa Natural Heritage Foundation^ For more information on prices call (515) 270-0402 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis or write to INHF 1 \ \ Calendar • P.O. Box 3538 • Des Moinbs, IA 50322 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OVER 6 0 % P OFALL BANKS IN OUR MARKETAREA ARE NO W INSURED BY THE KANSAS BANKERS SURETY COMPANY That’s R ig h t. . . In th e nine states w e serve w e h ave solved th e b on din g needs for 6 of every 10 banks. That's over 1 6 .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 COM PANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DONALD M. TOWLE President DAVID E. ABENDROTH Senior Vice President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving th e H e artla n d of A m erica since 1 9 09 OVER 6 0 % OFA U BANKS IN OUR MARKETAREA ARE NO W INSURED 4 BY THE KANSAS BANKERS SURETY COMPANY That’s R ig h t. . . In th e nine states w e serve w e have solved th e bon din g needs for 6 of every 10 banks. Thafs over 1 6 .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 COM PANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DAVID E. ABENDROTH Senior Vice President DONALD M . TOWLE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Serving th e H e artla n d of A m erica sin ce 1 9 0 9 3 Now th e largest regio nal processor in th e M idw est show s you exactly w h at w e provide. If you’re not getting this, you’re not getting what you deserve.Full on-line capabilities for all applications with CIF, G/L and platform automation interface. é Guaranteed same day disaster recovery service for your protection, compliance, and peace of mind. fi fi Cost effective pricing to meet your needs. Free initial and on-going training on all applications, (to name just a few). 0 agreements and obtaining requisite shareholder and regulatory approvals. M ILW AU KEE: Robert L. Seidell has been elected president of Mar shall & Ilsley Data Services, Inc. _ Dennis J . Kuester, president of Mar® shall & Ilsley Corporation, has also been president of the subsidiary and will remain a director. Mr. Seidell joined M&I in 1983 and most recent^ ly was executive vice president of ® M&I Data Services. South Dakota News The Federal Reserve Bank of Min neapolis, in cooperation with the bankers associations of Minnesota, forth Dakota and South Dakota, las scheduled several seminars on Expedited Funds Availability dur ing June. Registration is at 8:30 a.m. with the program running from 9:00 to 12:30. Fee is $20 per person. Dates and locations are: 8th—Holi day Inn, Duluth, Minn.; 9th—Holi day Inn, Bem idji, Minn, and Mankota, Minn.; 10th—Ramkota Inn, Sioux Falls, S. Dak. and Park In n In tern atio n al, A lexandria, Minn.; 13th—Bloomington, Minn.; 14th—Ramkota Inn, Pierre, S. Dak.; 15th—Bismarck, N. Dak.; 16th— Fargo, N. Dak. Contact the ap propriate bankers association to register. For more information on how we can help you succeed in meeting your goals, eliminating the concerns inherent in data processing and all at a very cost effective price contact: Dick Ormond Sr. Vice President, Customer Group 1-800-332-5242 (In Iowa) 1-800-421-0059 (Out of Iowa) BANKING 1 THE ¡B its /B A N K IN G ¡S Y S T E M 4333 Edgewood Rd N.E PO Box 1847 Cedar Rapids. Iowa 52406 319'395-6600 A Banks o f lowa subsidiary "Professional assistance in hiring and career advancement" careers quality service by experienced professionals 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 Jean Eden 515-276-1151 Sandi Garner 515-832-1258 Tues / Wed / Fri Confidential. Fees Paid by Employer. FDIC will share in recoveries of covered losses of the bank. The responsibility for pursuing collec tions and claims remains with the bank. The four offices of American State have become branches of First Dakota National. American State had assets of about $67 million and total deposits of about $63 million. First Dakota National Bank now has approximately $125 million in assets, making it the seventh largest bank in the state. North Dakota News rison State Bank; Legislative— Jam es Kuchar, Western State Bank, D e v ils Lake; M arketingKirn Albert, First American Bank, Minot; Trust—Mike Parke, Amer ican State Bank, Dickinson; Long Range Planning Task Force—Curt Zimbelman, First Western Bank, Minot; NDBA School of B a n k in g Mark DuBord, Union State Bank, Fargo; Nominating—John Pierson, Norwest Bank, Bismarck/Mandan; 1989 NDBA Convention—Gerald Wilier, Kirkwood Bank & Trust Co., Bismarck. Wyoming News The following individuals have ac cepted appointments to serve as CASPER: Among recent changes committee chairmen for the North announced by Wyoming National Dakota Bankers Association for Bank Casper were the promotions of 1988-89: Agriculture—David Kjel- David W. Perino and Mark S. strup, First Security Bank, Under Ramsdell to vice presidents and wood; Bank Counsel—Tom Tudor, commercial loan officers. They YANKTON: The transaction to Bank of North Dakota, Bismarck; joined the bank in 1986 and 1985, merge The American State Bank in Education—Richard Johnson, Gar respectively. to First Dakota National Bank, both of Yankton, was effective May 18 D O ES YOUR BANK NEED AN INVESTMENT CENTER? when the FD IC approved a financial assistance plan whereby FD IC con Your benefits: • New high net worth customers tributes $4,275,000 to offset losses • Added profit • Reduced deposit loss to competitors in the bank. An additional $3,250, • Ability to offer complete financial services 000 capital injection is provided by 1-800-544-7113 »the shareholders of First Dakota Na First Dakota Building tional. This move was made when P.O. Box 2796 FD IC was informed American State Bismarck, ND 58502 was in danger of failing. The plan or was announced earlier (April 18 P.O. Box 65697 Weekly Newsletter) by First Dakota West Des Moines, IA 50265 president and CEO Larry Ness. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 POSITIONS AVAILABLE Loan and investment reviews and other management services HIRINGI Government jobs—your area. $15,000-$68,000. Call (602) 838-8885. Ext. 9397.____________________ (PA) SW ORDS ASSOCIATES. INC. P R O FE S S IO N A L B A N K IN G C O NSULTANTS 2 Brush Creek Blvd. Kansas City, MO 64112 (816) 753-7440 POSITIONS WANTED AG/COMMJR.E./CONS. LENDER—4 yrs. exp. Done It all. FmHA and SBA. Articulate, energetic, dependable worker. Ready for new challenge. Contact File WNN c/o North western Banker. (PW) LENDING AND ADMIN. Over 12 yrs. exp. in admin, and len ding, incl. ag, light comm., consumer, and R.E. Graduate Banking School and Comm. Lending School. Looking for growth position w/progressive bank. Contact File No. WNO c/o Northwestern Banker. (PW) WANT T O BOY WANTED—Need Diebold equipment for 2 drive-ln lanes, lobby teller windows, and camera system. Want newer, quality equipment. (402)476-1204, Paul or Bob. (WTB) Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE czHo[d.£X a n d c d f’i.x o c ia te .i. Specializing in the Purchasing and Sale of Banks 515-232-0814 405 Main Ames, Iowa 50010 Executive Search For Bankers Job Finders, Inc. 2708 Grand Avenue Des Moines, Iowa 50312 Professionals Serving Banking AG LENDER - $75 million bank - degree. Need 4-5 years experience. To $30K COMM. LENDER - Need several years exp., in cluding workout. To $50K egency R E C R U IT E R S, INC. Diane Evans 1102 Grand Avenue, Kansas City, MO 64106 816/842-3860 RYAN AUCTION CO., INC. Decorah, Iowa 52101 Farm Equipm ent S pecialist A ppraisals & A uctions Call Dale Ryan 319-382-8648 FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 Financial Careers, Inc. POSITIONS AVAILABLE R 815 Office Park Rd., Suite 6 West Des Moines, Iowa 50265 515-226-0510 Donald E. Holder, Principal Mark A. Abbey (515) 243-7576 SERVING THE UPPER MIDWEST Two Ruan Center/Suite 1000 Des Moines, IA 50309 515/245-3786 Employer pays fee. Contact Lorraine Lear or Malcolm Freeland concerning Midwest Banking opportunities. Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE 9802 Nicholas Street, Suite 370 Omaha, NE 68114 Phone: 402/390-0275 P O S IT IO N S A V A IL A B L E SR. LENDER—Mid-sized holding co. bank located in co. seat commty. seeks individual to manage/administer len ding function. Must have diverse lending exp. incl. com’l and ag. Some operations exp. helpful. 8 + yrs. exp. req'd. To Mid-$40’s + . Job #NW3345 % TRUST ADMINISTRATOR— Is your current mgmt. team holding you back? Key Minn, hub city trust co. needs trust administrator. You will be given authority, responsibility cont. ed. as needed. Multiple career pathing o p ty ^ ^ H available w/holding co. Terrific benefits! Seek 1 + y r ^ ^ ^ trust admin, exp. To $30K + bonus. Job#NW3346 AG LENDER—Successful, clean bank In So. MN is adding _ to mgmt. team. Req’s 2 + yrs. ag lending exp. with dairy V emphasis. Must also have FmHA exp. Very few work-outs. To Mid-$20’s. Job #NW3347 CALL PAUL GENTZKOW OR BILL BENSON ROHEKJERTJ M L F 3636 IDS Center Minneapolis, MN 55402 "Successful Banking is Quality Personnel" P O S IT IO N S A V A IL A B L E CONS. L. O. #2 position in growing bank offers oppty. and challenge. Small town bank near large pop. center. Must have 4 yrs. consumer lending and new bus. development skills. $30K. CASHIER Are you ready to be rewarded for your hard work? $100M bank in excellent commty. seeks 4 + year operations per son who has 4 year degree and prior mgt. exp. Will be given high visibility and free reign over mgt. of several areas. $28«. POSITIONS AVAILABLE PRESIDENT $30mm, one-rated, top earner, outstate ........................................................$50-60,000. POSITIONS AVAILABLE PRESIDENT, $30mm, ag bank, privately owned .. ........................................................................ $50,000. TRUST MARKETING - large urban bank. Requires degree and trust experience. $35K PRESIDENT, $40mm, two-rated, ag bank, good in dustry base ..............................................$60-65,000. REAL ESTATE LOAN • single fam ily residential and secon dary market experience required. Proximity of major metro area. $40K PRESIDENT, $60mm, outstate, 10,000 population, strong m arketer.................... $60,000 + incentive. PRESIDENT, $80mm, solid industry, advanced educational facilities ............................ $75,000 + . FDR FURTHER INFORMATION CONTACT KURT ROSENCRANTS CONTROLLER, $150mm, top earner . .$40-45,000. R O B E R T W IL F 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID ALL FEES COMPANY PAID PRESIDENT, $20mm suburban bank, growth ori ented ........................................................ $50-60,000. SR VP Looking to get to the top? Profitable $40M bank in key Iowa location seeks #2 person for growing city bank. Com mercial lending exp., good motivational skills and new business development abilities. $50K. or IOW A, MC. (612) 339-9001 PRESIDENT, $75mm, strong capital, growth aver age, ownership potential ........................... $75,000. COMPENSATION SPECIALIST, banking back ground only ..............................................$35-40,000. ASST. MGT. CREDIT DEPT., over 15 analysts, Lotus 123, top bank ....................................$31,000. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 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 a ffiliate of multibank A holding company. $24K ^ Additional listings for commercial lending and trust officers. Resume’ requested. TOM HAGAN & ASSOCIATES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 "Serving the Banking Industry Since 1970” Vol. 17 No. 7 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 St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ä ™
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