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• Vol. 10 No. 2 Des Moines, Iowa May 4,1981 Illinois Committee Okays Multi-Bank Bill EGISLATION which would La grant limited, regionalized au thority for banks to create multi-bank holding companies received favorable consideration by the House Financial Institutions Committee last week, and was sent to the floor of the Illinois House. Action is expected in two to three weeks. HB 666 is sponsored by Rep. Jim McPike (D-Alton) and Rep. Ben Polk (R-Moline), and has been endorsed by the Association for Modem Banking in Illinois. James B. Watt, president of AM BI, termed the committee’s recommendation for passage, “ A vote of confidence for the preserva tion of the banking industry in Illinois and a major step toward passage of this long-awaited legisla tion.” Mr. Watt continued, “ There is substantial movement at the national level for the enactment of interstate banking, which would mean that Illinois banks could be purchased by out-of-state banks, without banks in our state being able to affiliate with other banks here. It is not a question of if interstate banking will be enacted into law, but when and in what form. If this multi-bank holding company legislation is not passed in 1981, the possibility of Illinois banks being owned by out-of-state interests moves even closer to becoming a reality. “ Therefore,” he said, “ the argu ments by those opposed to moderni zation of the state’s banking laws become even more irrelevant and dangerous to the continuation of the Illinois banking industry as we know it today. Illinois is one of three states in the union, along with West Virginia and Oklahoma, which do not permit some form of either branch banking or multi-bank holding companies.” Opposition Testifying in opposition to the bill was Jack D. Lemmerman, president of the Illinois Bankers Association (IBA) and chairman of the National Bank of Monmouth. In commenting on the Committee’s action, Mr. Lemmerman said “ We were suppor ted by the Independent Community Banks of Illinois, the Illinois Farmers Union, a group of railroad employees, the Illinois Agricultural Association and many independent bankers. The bill was suppported only by representatives of the Association for Modem Banking in Illinois which has 275 members. The Illinois Bankers Association represents 1011 banks. “ Of course, we are disappointed with the passage of the bill out of the Committee even though the final vote was anticipated. One of the bill’s sponsors at the meeting seemed to concur with this anticipation by suggesting that the vote be taken prior to the testimony and that those interested in hearing the testimony could remain after the vote was taken.” Mr. Lemmerman went on to say, “ We believe that the present unit banking system is best for Illinois. In considering any change we must always keep two points in mind: 1) who do these changes benefit? and 2) do these changes make banking better for the people of the State? ‘ ‘ The bill being considered provides no benefit for anyone except those who own banks and is contradictory to the best interests of the consumer. We hope that the representatives of the people of this State will consider C A LL O N TH E “P E R FO R M A N C E TE A M ” where common transactions are handled uncommonly well. 1■ ¡ ■ ■ I l l FI RST NATIO NAL LI NCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 The Talk of the Whole State: BIGGERAND BETTER THAN EVER! 31 p i W IOWA nes/vioines A GROUP3 ANNUAL MEETING. Surf Civic & Convention Center CLEAR LAKE Thursday, May 21 LADIES LUNCHEON with Style Show AFTERNOON BUSINESS MEETING with Extra Add ed Attractions SOCIAL HOUR Team w ork: O ne o f the reasons we’re first in Iowa. A NATIONAL BANK A^ the needs of the consumer when the bill is brought to the floor, because changes in legislation should always benefit the majority of the people of Illinois and not just the elite special interest groups which advocate multi-bank holding companies. Basic Features Basic features of HB 666 are: • Banks would be allowed to affiliate under common ownership through a multi-bank holding company. Illinois presently allows only one bank holding companies. • Five holding company regions would be established. • A multi-bank holding company could acquire banks only within the holding company’s home region and one contiguous region. • After the date of enactment, newly chartered banks could not be acquired until they have been in existence for ten years. Bob Brenton Seeks Office As ABA President-Elect FLOOR SHOW C. Robert Brenton, president of Brenton Banks, Inc., Des Moines, la., announced his candidacy last week for the office of President-Elect of the American Bankers Association for the election to take place at the A B A convention in September, 1982. The announcement was made at The Greenbrier to members of Region 5 who were taking part in the A B A Spring Banking Leadership Confer Write for Special Registration Form and Complete Program to GROUP3 COMMITTEE Corwith State Bank Corwith, Iowa50430 DonSabbann, Secretary We Will Be Looking For You. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis gwll An Affiliate of Northwest Bancorp'»ration B A N C O u Member FDIC SMORGASBORD BANQUET DANCING Sharon Trimble Call (515) 245-3131 or toll-free (800) 362-25 14 ence. Region 5 includes Iowa, Minnesota, Wisconsin, Nebraska, South Dakota, North Dakota and Montana. Iowa News CHEROKEE: Central Trust & Savings Bank will be celebrating its 50th anniversary May 11-14, accord ing to John B. Keeline, president. RED OAK: Winfield S. Mayne and his family have signed an agreement to sell their stock in the Montgomery County National Bank to John R. Lauritzen and Bruce R. Lauritzen, subject to approved by regulatory authorities. Winfield S. Mayne is chairman; his son, Winfield G. is co-chairman, and another son, Mark R. Mayne is president. Montgomery County National had year-end assets of $38 million. Bruce Lauritzen said if approval is received, application will be made to merge Emerson State Bank into the Red Oak bank and retain an office in Emerson, 10 miles west. Emerson has $8 million assets. SIOUX CITY: William R. Jansen has joined Toy Nat’L Bk. in an executive capacity. He has had 33 years of banking experience, and was most recently president of Dubuque Bk. & Tr. W H EATLAN D: Dennis Henning has been named president of the First Trust and Savings Bank. Mr. Henning was previously vice presi- Plan Iowa Group Meetings Annual Group Meetings are being held this week by the Iowa Bankers Association as follows: Group 8—Maquoketa—May 4 Group 4—Cedar Rapids—May 5 Group 7—Waterloo—May 6 Group 2—Fort Dodge—May 7 Complete programs and details were featured in the April 20 issue of the Newsletter. Highlights and program details for the second series of Iowa Group Meetings are as follows: Group 6—Des Moines Group 6 moves to a new location this year. The meeting will be held at Hyperion Field Club on Monday, May 18. Tee-off times for golf will be from 8:00 a.m. to 10:00 a.m., and reservations may be made by call ing Steve Allen or Becky Baker at Capital City R-E’ CHITTENDEN State Bank in Des Moines (515) 244-5111. The formal program follows: P.M . 3:00 Registration in lobby o f H y perion Field Club. 3:30 Meeting: Robert E. Chitten den, chairman, Group 6; chair man and president, Farmers Savings Bank, Mitchellville, presiding. Golf Awards—Steve Allen, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Vice President, Capital City State Bank, Des Moines. Speaker—B.J. “ Jerry” O’ Dowd, President, AG RI In dustries—a regional grain marketing cooperative owned by 319 county elevators in eight states. Topic: “ Grain Marketing and Transportation in the 80’s .” 5:30 Reception—Cash Bar. 6:30 Banquet Prime Rib Dinner. Wine will be served with dinner. Introduction of Guests Remarks—Neil Milner, Exec. Vice Pres., IBA; Tom Huston, Supt. of Banking; and Ed Tubbs, President, IBA. 8:00 Entertainment provided by Mackinaw Music Show. SPOUSE ACTIVITIES 3:30 A visit to the Des Moines B ot anical Center. Buses will de part from the Hyperion Field Club at 3:30 p.m. No addition al charge for this activity. Maximum 100 people—firstcome, first-serve. Group 5—Council Bluffs Club 64 in Council Bluffs will be the site of the afternoon meeting and evening banquet for Group 5 of the Iowa Bankers Association on Tuesday, May 19, according to Group Chairman Richard Randall, president, Dun lap Savings Bank. Registration R- RANDALL will start at 2:00 p.m ., and the business meeting will begin at 3:30 MACKINAW MUSIC SHOW p.m. Comments will be made by IB A President Edward L. Tubbs, presi dent, Maquoketa State Bank; Tom Huston, superintendent of banking, and IBA Executive Vice President Neil Milner. Preceding the meeting, cocktails will be served through the courtesy of United States Checkbook Company of Omaha. Golfers may wish to arrive in Council Bluffs early. Tee-off times have been arranged between 9:00 a.m. and 10:30 a.m. at Lakeshore Country Club. James C. Johnson at State Bank & Trust is handling reservations (712) 323-7521. The Lewis Central Corporation will provide the evening entertainment. The Group was the 1980 Class A champs at the Midlands Jazz Festival in Fremont, Nebraska, and has won numerous other honors. Group 12—Okoboji Golf tournaments for both men and women will be featured at the annual meeting of Group 12 at the Best Western Lodge m Okoboji on Wednesday, May 20, according to Ed Norland, ■ group chairman w and vice presi* dent, Iowa Trust ^ . M b and Savings " , Bank, EmmetsE norland burg. The men will tee off at the Brooks Golf Course between 8:30 a.m. and 11:00 a.m. Keith Campbell, presi dent, Citizens National Bank, Sheldon, is chairman. Ladies will tee off at Emerald Hills between 9:00 a.m. and 10:00 a.m. JoAnn Kuehl, Security State Bank, Lake Park, is chairman. The formal program is as follows: P.M . 2:00 Registration—Lobby of Best Western Lodge. 4:30 Business meeting Welcome—Chairman Ed Nor land. Remarks—IBA President Ed ward L. Tubbs, president, Maquoketa State Bank. Remarks—Tom Huston, super intendent of banking. Remarks—IB A Executive Vice President Neil Milner 6:00 Social Hour 7:00 Banquet—Grandview Show room. Introduction of guests Entertainment—Rusty Draper, nationallv-known entertainer. Group 3—Clear Lake Group 3 of the Iowa Bankers Association is anticipating another record attendance when it meets at Clear Lake on Thursday, May 21, according to O. Jay Tomson, group chairman and president, Citizens Naitonal Bank, Charles City. Mr. Tomson announced that the key attraction this year will be George King and the Fellowship, a talented musical group that has entertained in over 30 countries. An added attraction will be Charles “ Dink" Freeman, known as “ Ameri ca’s most versatile story teller.” The program follows: A.M . 10:30 Registration, Lobby of Surf Ballroom. Libation Time—Cash Bar— Surf Ballroom. Meet & visit with the officers and staff of the Iowa Bankers Association and your banker friends. P.M. 12:30 Business Luncheon—Surf Ballroom. 1:00 Welcome—O.J. Tomson, Chairman Group 3, President, Citizens National Bank, Charles City, Iowa. Address—Karl A. Schild, Federal Reserve Bank of Chi cago; Sr. Vice President & Dir ector of Research, Chicago, 111. IB A Activities—Neil Milner, O.J. TOMSON Executive Vice President, Iowa Bankers Association, Des Moines, Iowa Remarks—Edward L. Tubbs, President of the IBA, Chair man, Maquoketa State Bank, Maquoketa, Iowa News from the Superintendent of Banking, Tom Huston, President, Columbus Junction State Bank, Columbus Junc tion, Iowa 5:00 Cocktail Hour 6:00 Banquet Introduction of Guests Entertainment—Dink Free man, Comedian; George King & the Fellowship Dance 1:00 Luncheon with Spring and Summer Style Show, followed by Terry Vik, Mime Artist. SPOUSE ACTIVITIES: All at Holi day Motor Lodge Restaurant; East Edge of Clear Lake. P.M. 12:30 Punch, Live Music and Con versation W elcom e to Council Bluffs for Group 5 Annual M eetin g Tuesday, M a y 19 Your hosts: Council Bluffs Savings Bank First National Bank State Bank & Trust https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis K.A. SCHILD □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. Please Contact: J. Mason Henry Charles E. Walters Co., Inc. 39 Ginger Woods Road, Valley, Nebraska68064 Phone: (402)553-6400 BANKERS PARTICIPATING I I lEasePlan,lnc. 545 - 31st Street Des Moines. Iow a 50312 R. L. “ DICK” SELLON Join Us At Iowa’s Vacation Spot ! Golf Boating Business Group 12 May 20 Brooks Best Western LakeOkoboji 3 W e’re people who can help with ag lending. For ag lending, data processing, overlines, and investment services . . . w e’ re the p eop le w ho can help. We’re more than western Iowa’s largest bank. We’re people. Ken Roeder Correspondent Bank Officer 712/277-6580 SECURITY N A TIO N A L BAN K IN SIOUX CITY, IOWA. MEMBER F.D.I.C. ___________________________________________ © 1980 Security National Bank dent of Fidelity Brenton Bank & Trust Co. of Marshalltown. Minnesota News CHANDLER: Alvin C. Peterson has sold his controlling interest in the State Bank to Wendale P. VanderBroek, Dean A . Peterson and Lonnie E. Clark. Mr. Vanderbroek, formerly cashier, was elected president. Alvin C. Peterson was elected chairman of the board. DULUTH: The retirement of Robert F. Poirier, executive vice president and director of First National Bank, whose banking career spanned more than 40 years, was announced recently. MINNEAPOLIS: Gary L. Lundeen, 46, vice president-bond sales with Northwestern National Bank, died recently following an automobile accident. He had joined the bank in 1956 as a teller. LINCOLN: National Bank of Cornmerce Trust & Savings has opened a new branch at 66th and “ O” Streets. LOUISVILLE: Phil Pankonin has joined the Home State Bank as vice president and manager. He is the fourth generation Pankonin to be associated with the bank. PONCA: The Bank of Dixon County celebrated its 100th anniversary with an open house recently. North Dakota DEVILS LAKE: Jim Collinson, associated with First National Bank since 1946, has stepped down as president. John Olsen, vice president since 1968, has taken over as president. Mr. Collinson became president in 1968 upon the retirement of his father, Robert Collinson, who had joined the bank in 1909. Estate Appraisals Purchase of Collections Sale of Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest Ben E. Marlenee Coins 913 Locust Des Moines, Iowa 5Q309 515-243-8064 rejoined First National Bank as vice president-commercial lending. Mr. McDermott left the bank after 26 years of service in 1976, and was most recently president of the El Camino Bank in Anaheim, Cal. HIGHMORE: First Bank Highmore will celebrate the grand opening of its new facility May 7 and 8, according to L.U. Straight, president. MILLER: Cletus E. Hart, 70, chairman of the Hand County Bank, died recently. He was president from 1955 to 1976, and became chairman in 1976. He purchased the bank in 1955. South Dakota ST. PETER: Kermit A. Mahlum, 36, ABERDEEN: D .W . McDermott has has been named president and c.e.o. of the First National Bank. He has czHoCdex an d <z/h±oaiate.s. been president of the First National Bank Consultants Bank in Bowbells, N .D., for the last Specializing in Bank Acquisitions eight years. Sheldon A . Abraham515-232-0814 son, former president, became vice P.O. Box 450 405 Main Ames, Iowa 50010 D o n a l d E. H o l d e r , Principal chairman of the board and will continue on the executive staff. SERVING PROFESSIONALLY Nebraska News BELLEVUE: Hjalmaar Kousgaard, one of the original members of the board of the Bank of Bellevue, died recently at the age of 66. Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 to make MNB work for you. Single System Banking With Availability Toll free 1-800-332-5991 Availability of funds. . . availability of people. . . responsive to your needs. National Bank of Waterloo Waterloo, Iowa 50704 Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ASK JOHN MANGOLD Phone Milt Hennick at 1-800-772-2411. Merchants A National Bank 151 Member F.D.I.C. A BANKS OF IOWA' BANK North Carolina Locating & Recovery Service Statewide— Since 1922 HOME DETECTIVE COMPANY, INC. Administrative Offices • HOSouth Walnut Circle • Greensboro, NC 27409 Field Divisions: Ashevi Ile«Charlotte»Durham»Raleigh»Fayetteville»Jacksonville« Rocky Mount»Tabor City [919)299-1641 Bonded • Dependable 59th Year Licensed • Trustworthy W A N T ADS Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER 306 - 15th Street Des Moines, Iowa 50309 FOR SALE 13 Burroughs Model No. 1010361 teller machines, 2 Model No. 1010381 teller machines, and 13 narrow carriage Burroughs Adding Machines (serial numbers P3003905-P6063215). Contact Diane Hanna at First National Bank, Fort Dodge, Iowa 50501. Phone (515) 576-6811._________________________________ (FS) POSITION WANTED BANKER with excellent administration, operations, and lending background is seeking management position. Write file NBD, c /o Northwestern Banker. ________________________________________ (PW) POSITIONS WANTED ADVERTISING/MARKETING Northwestern Banker is seeking person with . one to three years advertising sales and marketing experience. Must have proven record and top references. W riting and photo ability a plus. Send resume to Malcolm Freeland, Publisher, Northwestern Banker, 306-15th St., Des Moines 50309. GET THE COMPETITIVE EDGE over savings and loan, credit unions, etc. Commercial Loan Officers with 3 to 20 years experience seek new opportunities........... $20,000 up CEO of community bank wants greater challenge. Will consider number one or two p o s itio n ...............$30,000 Office Manager with well rounded operations experience seeks new opportunity in Io w a ... .$23,000 Operations Officer with solid experience seeks new op p o rtu n ity........................................................$24,000 PARTIAL LIST OF AVAILABLE POSITIONS AG LENDER - 5 years in rural banking environment. Has developed an active call program that has significantly increased loans and deposits. $23,000. CASHIER - Strong number 2 man. Has diverse experience in lending and operations for strongly agricultural bank. Also has experience with in house computer. $32,000. EXEC V.P. - Coordinates all commercial, ag, real estate and installment loans for medium sized bank. Prior experience included operations officer for major bank. $30,000. OPERATIONS - BS accounting, 2 years in operations of moderate bank. Experience includes data processing and accounting. $14,000. COMMERCIAL LENDER - V.P. with major Iowa bank. Has extensive background in commercial loans up to mid 6 figures. Excellent image and communication skills. $27,000. LENDER-Has1 year exposure to Ag, Installment and Real Estate loans. Also licensed in general and personal lines of insurance. $15,000. ALL FEES COMPANY PAID. FOR FURTHER INFORMATION RESPOND IN CONFIDENCETO: Bank Division ROBERT HALF of iowa, inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID If your bank needs a qualified officer, we have many more applicants in a wide range of ëxperience. Call: Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, Iowa 50309. (515) 244-8163. Employer pays fee.___________________ POSITION AVAILABLE POSITIONS AVAILABLE Commercial Loan officer fo r major Central Illinois b a n k ...................................................................$24,000 This “on-premise” system gives you complete inde pendence, competitive flex ibility and control. Ag Rep with two or three years experience wanted by eastern Iowa b a n k ....................................... $20,000 up NumberTwo person, strong In ag lending for Western Nebraska bank ................................................. $26,000 Marketing Person for major N.E. Iowa b a n k .. .$25,000 Ag Loan officer for Indiana bank. Fine opportunity . . . .................................................................... $23,000 up. Write or phone Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, Iowa 50309. Phone (515) 244-8163. Employer pays fee. LENDING - First Wyoming Bank, N.A. seeking installment lender with at least two years experience—all phases installment lending. Salary commensurate with experience. Send resume to R.V. Preston, pres., P.O. Box940, Rock Springs, Wyoming 82901.____________________________________ (PA) Get tighter instantaneous reporting in every phase of your operation. At the sam e tim e reduce your operating costs. A program for your every need — and m ore. The best banking system in the industry. Ag Banking Specialists55^ Whan it comet to agriculture, banking and p ersonnel. . . go to the specialists — go to AGRIcaroors, Inc. Progressive bankers pay us to find the people they need. AG LOAN O FFICER/INS. M G R ........ IA .$15-20,000 2ND MAN IN SMALL BANK.................NE. $15-22,000 [A S S T .V .P ./B R A N C H M G T .................IA .$16-22,500 INSURANCE M ANAGER..................... N E .$16-19,000 SALES&MKTG. REP.-FINANCE___ N Y .$20-25,000 | COMMERCIAL LENDING O FFICER.. IA .$15-16,000 Ask our banking specialist, Linda, what's available without cost or obligation. M o d e rn B an king S yste m s , Inc. 6818 Grover St., Om aha, Nebraska 68106 (402) 392-0151 (515) 394-3145 ■ NEW HAMPTON, IA 50659 rancareers, inc. “ THE ORIGINAL AGRICULTURAL RECRUITER POSITIONS AVAILABLE AGRI-LOAN - addition to staff of $25MM rural Iowa bank. Prefer 2-4 yrs. experience. Additional lending duties involved................................................... $22,000 INSTALMENT LOAN - excellent opportunity for junior officer in $50MM Wyoming bank; 3-5 yrs. consumer loan experience desired.....................................$20,000 BRANCH MANAGER - must have lending experience. Facility is located in semi-suburban area close to a major midwestern c ity .......................................$17,000 SECOND OFFICER-sm all city bank desires a lending officer to handle instalment and real estate credits. Some commercial. ............................................ $25,000 EXEC. VICE PRES. - solid commercial lending experience desired. Bank is located in growing suburban area. Degree preferred....................... $30,000 COMMERCIAL LOAN - experienced commercial lender with exceptional business development skills. $40MM affiliate of major midwest holding company. Room for advancement...................................... $30,000 AUDITOR - staff position with large midwestern holding company. Degree and 1-3 yrs. experience desired. 50% travel.............................................$20,000 Other fine opportunities available. To inquire forward resume’ and salary history to: TOM HAGAN & ASSOCIATES of Kansas City P.O. Box 12346,2024 Swift North Kansas City, MO 64116 816/474-6874 SERVING THE BANKING INDUSTRY SINCE1970. Voi. 10 No. 2 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des Moines Iowa. Address all mail subscriptions, changes of address [Form 3579], manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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