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k A- Voi. 3 No. 53 Des Moines, Iowa May 6, 1974 A S ees $32 B illion C apital N eed s for B anks *■ A>- r r r^ rr V y A 4 -A 4>A * H- The commercial banking industry’s external needs between now and 1979 may exceed the available supply if a reasonable limit is set on the price to be paid for the funds, Warren R. Marcus, general partner of Salomon Brothers investment banking firm, declared before a recent seminar in Chicago. The seminar was sponsored by the Bank A d m in istra tio n In s titu te and Northwestern University. In his speech, “ The Challenge to Banking: Capital Formation in the Seven ties,” Mr. Marcus stated that commercial banks may attempt to raise $32 billion in the markets over the next six years, or an annual average of $5.3 billion. This would be more-than double the record $2.5 billion obtained from the capital market by com mercial banks in 1972, and would sharply exceed an anticipated new record of $3 billion to $3.5 billion the banks are ex pected to raise this year. “Though I hold no special credentials as an expert on the depth and breadth of the capital market,” Mr. Marcus stated, “ it seems to me that the $5.3 billion of new ex ternal capital required annually over the next six years is not attainable, except perhaps on terms that are prohibitive.” He said that at this early stage in 1974, the pressures of numerous bank debt financings is already pushing rates higher. Mr. Marcus’ report on the future capital requirements of the banking system makéís four assumptions: (1) Bank liabilities will grow at an average annual rate of 12 per cent. This is rff less than the 13 Vi per cent growth over the last four years. But, a portion of this recent growth was produced by rapid increases in international business where some slow down is expected. (2) Dividend payouts will be about 38 per cent of earnings. (3) Net income will grow at an annual rate of 8 per cent through 1979. (4) The ratio of banking capital to bank liabilities, which has been in a declining trend ever since 1960, will stabilize at the present 7.8 per cent. As late as 1969, it was 9.1 per cent. On the basis of these assumptions, Mr. Marcus stated, the domestic and foreign liabilities of the nation’s commercial banks will rise from an estimated $835 billion at the end of 1974 to $1.60 trillion in 1979. Noting that there is considerable evidence that the regulators will be unwilling to allow any further deterioration in the capital ratios, Mr. Marcus stated that banking capital will need to rise from $65 billion in 1974 to $128 billion in 1979 in order to support the increased liabilities. He expects the banks will be able to generate $31 billion internally, leaving $32 billion in unsatisfied capital needs to be raised in the markets. Mr. Marcus stated that the courses open to banks in obtaining capital from the markets include equity financing, straight debt, convertible debentures, and straight debt combined with warrants. He pointed out that raising equity capital would be more palatable if bank stocks PICTURE OF THE WEEK — Ribbon cutting ceremonies took place Monday morning, April 29, to open the new building occupied by the lowa-Des Moines National Bank. Taking part in the ceremony were Mayor Richard Olson (left), John R. Fltzglbbon (center), presi dent of the bank, and Governor Robert D. Ray. Details about the bank and open house activities will be featured in the June Northwestern Banker. carried relatively high multiples. “ But, un fortunately, price-earnings multiples in this group are more often below 10 than above. This not only makes the cost of equity quite dear, but the reflection of that cost — dilu tion in per share earnings — has a selfpropelling negative effect,” Mr. Marcus (Turn to p ag e 5, p le a s e ) A A Ai< a. CALL ON THE “PERFORMANCE TEAM” where comm on transactions are handled uncomm only well. X I? https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. OWATONNA: Tom Anderson has joined the Owatonna State Bank as instalment loan officer. NATIONAL BANK in Sioux City Mike Broderick, Vice-President Gary Stevenson, Vice-President ROCHESTER: A. A. Williams, assistant vice president and cashier, at the First National Bank, has been elected vice presi dent and cashier. ILLINOIS NEWS Improve your bottom line with our Correspondent Services from First National where your customers are our concern, too. Together we have a lot to share N EB R A SK A NEWS M IN N ES O T A NEWS BEAVER CROSSING: The Home State Bank has purchased land for the construc tion of a new bank building. The Minnesota Bankers Association will hold its second series of Bank Staff Seminars (formerly Regional Staff Train ing — Public Relations Meetings) May 1316. Dates and places follow: May 13 — Sunw ood Inn, M o rris; M ay 14 — Arrowwood, Alexandria; May 15 — Holi day Inn, Brainerd, and May 16 — Germain Hotel, St. Cloud. The meetings begin at 4:30 p.m. with a discussion on the bankers’ service to the public, employee attitudes, customer relations, selling bank services and banking education, followed by a 6:30 p.m. dinner and program highlighting customer relations and bank security. FREMONT: Clifford C. Cushman has been promoted from assistant vice presi dent to vice president of the First National Bank and Trust Co. Other staff changes in clude: Thomas A. Richardson, advanced from assistant cashier to assistant vice president in the instalment loan depart ment, and Kenneth D. Grant, elected marketing officer. Mr. Grant joins the bank after serving as an assistant national bank examiner for the past six years. HOLDREDGE: Janice Swindell has been elected assistant cashier of the First Secu rity Bank. LITCHFIELD: An application by the State Bank of Litchfield for Federal deposit insurance has been approved. Capital ac counts of the bank total $250,000. OMAHA: Gov. J. James Exon, honorary chairman of the Nebraska committee for the State of Israel Bonds, has announced that Morris F. Miller, chairman, The Omaha National Bank, has been selected by Israel to receive its Prime Minister’s Award. The award is being presented to Mr. Miller in recognition of his lengthy service to his fellow man, Gov. Exon said. The bank will hold a dinner on June 8 at the Omaha Hilton to honor Mr. Miller and promote investment in the economy of Israel through purchase of Israel Bonds. OM AHA: The N orth Side Bank has received approval to establish a detached auxiliary tellers office at 8502 North 30th Street. BENSON: Ranea Maanum has joined the First State Bank. BRAINERD: Dorothy J. Warlof has been promoted to assistant vice president and marketing officer of the First National Bank. FOUNTAIN: Funeral services were held recently for Hiram Johnson, southeastern Minnesota pioneer banker. Mr. Johnson began his banking career in 1906 in Nora Springs, la. In 1908 he joined First State and served as its president and managing officer from 1912-1960. He later served as chairman until he retired in 1973. LE SUEUR: Le Sueur State Bank has opened in its new building. MINNEAPOLIS: Philip B. Harris, chair man and chief executive officer of Northwestern National Bank, has been elected to the board of Northwest Bancorporation. When you choose a city correspondent, do what over half of the banks in Iowa do — bank at MNB. Mark Christen Correspondent Banking Rep. 151 Merchants National Bank A ‘BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cedar Rapids, Iowa 52401 CHERRY VALLEY: An application by The Bank of Cherry Valley for Federal deposit insurance has been approved. Capital accounts of the bank total $800,000. CHICAGO: The Association for Modern Banking in Illinois will conduct an Agricultural Conference at the Ramada Inn, Champaign, on May 13-14. The association also will hold its Instalment Credit Conference at the Chicago Marriott Hotel May 14-16. CHICAGO: The following staff changes have been announced by Pioneer Trust & Savings Bank: Wayne R. Penn, vice presi dent, consumer loan; Dennis R. Oster, assistant vice president, portfolio and money management, controller’s division, and Jack G. Moses, assistant cashier, general banking division. SKOKIE: Carroll Layman has been ap pointed manager of marketing at the First National Bank. He was vice president marketing the past several years with Capital City State Bank, Des Moines, la. WHEATON: The Wheaton National Bank will highlight its annual Professional Business Women’s Luncheon with guest speaker Irene Hughes, the famed psychic. The affair is scheduled at Le Grand Chalet on May 10. NORTH D A K O T A NEW S The North Dakota Bankers Association 89th annual convention will be held at the Ramada Inn in Minot May 8-10. Registra tion begins at 3 p.m. Wednesday, May 8. ADAMS: R. W. Clapp, president of Security State Bank, has announced that Palmer Bow has been appointed director of Security State Bank to fill the vacancy created by the death of Joe Peterson. Ruth E. Ramsey, bank vice president and cashier, and Duwayne T. Bott, vice presi dent, have been elected directors. GARRISON: Jeff Stockdill, of Sioux Falls, S. D., a field auditor with Northwest Bancorporation of Minneapolis, will join Garrison State Bank as an assistant cashier May 13. LA MOURE: Wayne Dybing, Fargo, will join the First State Bank as agricultural representative in June. He has been with the Federal Land Bank in Bismarck, La Moure and Fargo. Iow a Groups 5 , 12, 2 and 3 W ill M eet The second week of Iowa Bankers Association group meetings gets underway Monday, May 20, with the Group 5 meeting in Council Bluffs. The other three meetings will be Group 12 on Tuesday, May 21, at West Okoboji, Group 2 on Wednesday, May 22, at Fort Dodge, and Group 3 on Thursday, May 23, in Clear Lake. Group 5 will register at Club 64 starting at 10 a.m., with luncheon for the men there at 12:15 p.m. Chairman Richard S. Goos, vice president, First National Bank, Coun cil Bluffs, will preside. After welcoming remarks from Mayor Dorothy Strohbehn and C of C President Tom Whitson the business program will follow, including: M itch G easler, liv esto ck extension specialist, Iowa S tate U niversity — “ Iowa’s Cattle Industry and Confinement Feeding” ; Doyle Wolverton, area livestock extension specialist — “ Governor Ray’s Task Force on Iowa Livestock Industry” ; Ed Spetman, president, Council Bluffs Savings Bank — “ Iowa College Foun dation” ; Richard Tool, president, Farmers & Merchants Savings Bank, Manchester, and president, Iowa Bankers Association; Cecil Dunn, Iowa superintendent of bank ing; Neil Milner, executive vice president, and Wendell B. Gibson, general counsel, both with I BA. A special Ladies Luncheon will be served at 12:15 p.m. at the Firehouse Dinner Theatre in the Old Market in Omaha. The program starting at 1:30 p.m. will feature a skit, talk and style show. Buses will leave Club 64 starting at 11:30 a.m. Buses will leave the Firehouse Dinner Theatre at 3:30 p.m., arriving at Lakeshore Country Club at 4:00 p.m. to rejoin the men for the evening social hour at 5:30 p.m., and dinner at 7:00 p.m. Entertainment will be provided by the Fabulous Conti Family. Registration cost will be $16.50 for the en tire meeting, or $5.00 for luncheon and $12.00 for dinner. Group 12 is a new group made up of parts of surrounding groups. Chairman is George H. Shadle, president, Iowa Trust & Savings Bank, Estherville, who is also ch airm an of neig h b o rin g G roup 2. Registration starts at 2:00 p.m. on Tues day, May 21, at Vern & Coila’s Club on West Okoboji. The business meeting starts at 2:30 p.m., featuring Mr. Tool, Mr. Dunn, Mr. Milner, Mr. Gibson and H. V. Rowenhorst, president, Northwestern State Bank, Orange City, who will discuss the Iowa College Foundation. The social hour starts at 5:00 p.m., with dinner at 6:30 p.m., and the after-dinner speaker will be Dr. A rth u r S ecord, G re a t N eck, N .Y . Registration fee is $12.00 per person. Group 2 registration opens at 9:30 a.m. on Wednesday, May 22, at the Starlite Village Motel, Fort Dodge. Mr. Shadle will preside at the business meeting that starts at 3:00 p.m. Mr. Tool, Mr. Milner and Mr. Dunn will be joined on the program by William Hummer, Wayne Hummer & Co., Chicago — “ Money & Bond Markets Bank Investment Policy” — and Earl Under brink, president, First National Bank, Fort Dodge — “ Iowa College Foundation.” The social hour at 5:30 p.m. will feature listen ing and dance music by Jane Russell. The banquet will be served at 6:30 p.m., with Dr. Arthur Secord as the guest speaker. Registration is $9.00 per person in advance, $11.00 at the door. Group 3, which always attracts the largest attendance of all the group meetings (more than 1,000 registrants!) will be held Thursday, May 23, at the Surf Convention & Civic Center in Clear Lake. Harold Gallagher, executive vice president, Shef- 1 3 ■ BIGGER AND BETTER THAN EVER! Ji> Â K % GRO UP 3 AN NUAL MEETING. ¿¡¿Xm -A -À. Surf C ivic & Ateu. C o nvention Center C LEA R LA K E Thursday, M ay 23rd A ,-C* ★ LADIES LUNCHEON with AM Style Show % ★ ★ BUSINESS I T MEETING with Extra Add- I -y-* ed Attractions yr AFTERNOON SOCIAL HOUR with Gem y ütlichkeit y ★ SMORGASBORD BAN- I yyy- QUET A ★ FLOOR SHOW Featuring Stage, TV & Recording Stars Welcome To Group 5 M onday, M ay 20 COUNCIL BLUFFS Meet old friends and collect new ideas. We are looking forward to seeing you at this informative and entertaining meeting. HOST BANKS Council Bluffs Savings Bank First National Bank State Bank & Trust https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ★ DANCING to Nationally 1 r v Known Orchestra ★ W rite fo r S pecial Registration Form and C om plete Program H 1 fa & ,k to Dj G ro u p 3 $ Com m ittee a P .O . Box 8 C lear Lake, Iow a 5 0 4 28 Je !4L X k 4 —4 — .4 ■h ^À. 4 4> 4 field Savings Bank, will preside as group chairman. Registration starts at noon. Men will have lunch on their own at local restaurants but a special Ladies Luncheon has been arranged at the Holiday Motor Lodge Restaurant on Highway 18 East at the east edge of Clear Lake. A spring and summer style show will be featured. The men’s business session will be called to order promptly at 1 p.m. After the welcome by Mayor Floyd Nesbit, a response will be given by William Werner, vice president, United Home Bank & Trust, Mason City. Mr. Tool, Mr. Dunn, Dr. Secord, Mr. Gib son and Mr. Milner will take part in the program, along with Robert Cummings, chief polygraph examiner, John E. Reid & Associates — “What About Lie Detec tors?” The Happy Hour starts at 5 p.m. and the smorgasbord dinner service will start at 6:15 p.m. The All-Star Floor Show, featur ing h eadline acts and sta rs from Hollywood, Las Vegas and television, will go on at 8 p.m. Dancing to Ralph Zarnow’s orchestra will follow. Registration charge is $14 per person for bankers and $17.50 for non-bankers and correspondent bankers. r r r>rr y -t T 4' 4 4 A *>4 ïr5 y H IOW A NEWS The Black Hawk County Bankers Association has endorsed the candidacy of Dale De Koster for vice president of the Iowa Bankers Association. The election will take place at the IBA annual conven tion in October. The Iowa Bankers Association is spon soring eight Kidnap/Extortion Seminars for directors, officers and spouses May 13 to 16. The program will be presented by Gerard J. Kenna, president, Minimum Risk Banking (Execudec, Inc.), Wausau, Wis. Total number of registrants will be limited to 125 for the following schedule: May 13 — 7:30 p.m., Davenport Holiday Inn; May 14 — 1:30 p.m., Iowa City Holi day Inn; May 14 S 7:30 p.m., Waterloo Ramada Inn; May 15 — 10 a.m., 2 p.m. and 7 p.m., Des Moines National Motor Inn; May 16 — 1:30 p.m., Carroll Tony’s, Highways 30 & 71; May 16 — 7 p.m., Storm Lake Harbor House. CALAMUS: Betty J. Green has been elected cashier of the Union Savings Bank. Mrs. Green joined the bank in 1951. REGULATORY AUTHORITIES presented their positive views on the advantages of multi office banking in Illinois at the recent AMBI convention at Oak Brook. Known as the Association for Modern Banking in Illinois, the group of 257 Illinois banks has split from the Illinois Bankers Association in an attempt to obtain legislative approval for branch banking and multi-bank holding companies. Shown from left: H. Robert Bartell, Jr., III. comm, of bks. & tr. co.’s.; James A. Davis, FDIC; Charles B. Hall, reg. adm., national banks; and James R. Morrison, sr. v.p., Fed of Chicago. D orothy J. G oettsch, who has been associated with the bank since 1969, has been elected assistant cashier. FORT DODGE: The Iowa Lake chapter of Bank Administration Institute will meet May 8 for Ladies Night at the Fort Dodge Country Club. Larry Mitchell & Co. will entertain. GRAETTINGER: Clara Mae Bonstead has been promoted to cashier of the Graettinger State Bank. LAKE VIEW. E. P. Kettering, pres, and majority stockholder in the Farm ers St. Bk., has purchased stock from minority stockholders and the bank is in the process of renewing its corpo rate charter on a perpetual basis. The state banking dept, had operated the bank for a brief period while stock purchase and the corporate charter renewal were being negotiated. Mr. Kettering’s son, Steve, who is now in the administrative offices of Mutual of Omaha in Omaha, will join the bank this summer. SIOUX CITY: Kenneth C. Schatz has been elected vice president and trust officer and Richard Baxter auditor of the Toy National Bank. Don Vaudt has been ap pointed secretary of the executive com mittee. He is bank vice president. Carolyn Yockey, assistant manager of the Midtown office, has been promoted to operations staff at the main bank, and Marlene Nelligan has been appointed assistant m a n a g e r o f th e M id to w n o ffic e . SPENCER: Tom Malmgren has been ap pointed instalment loan officer for the Clay County National Bank. WILLIAMSBURG: Funeral services were held recently for Osborne E. Jones. Mr. Jones, 91, was affiliated with the Farmers Trust & Savings Bank for over 63 years, retiring in 1967. He began in 1904 and was president and chief executive officer at retirement. SIGOURNEY: Larry Carey will join the First Trust and Union Savings Bank here in mid-summer. Mr. Carey was principal of the junior-senior high school. 4 4. ¿ïWtl» VMENID&I 4 4 k J SEC U R IT Y NATIONAL 4 4 4X Gene Hagen JlDigitized X for FRASER Ed Leahy https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Jim Hongslo BANK 6 T H A N D P IE R C E S IO U X C IT Y , IO W A PAYMENTS SYSTEM CONFERENCE spon sored by First Natl. Bk., St. Paul, recently, offered over 350 correspondent customers an opportunity to learn about the new Automated Clearing House. Shown here are Larry Kennedy, v.p., host bank, and Robert H. Long of Bank Adm. Inst., Park Ridge, discussing how the system will be started through the Fed in Minneapolis, as of July 1. SERVICE WITH NO SMILE. We're in our new home af Seventh and Walnut. Stop in and visit us soon. Iowa-Des M oines National Bank S s^ Greg Schamberg MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION SOUTH D A K O T A NEWS MILLER: Robert E. Ufen has been promoted to assistant vice president and marketing officer at the First National Bank. Amy E. Peterka has been advanced to assistant cashier and auditor in charge of bank operations. YANKTON: Gertrude Dietsch of Fordyce has been elected assistant cashier of the First Dakota National Bank. VALLEY SPRINGS: David A. Bork, assistant vice president, has been promoted to manager of the United National Bank. He has been with the bank since 1964. W YO M IN G NEWS JEFFREY CITY: An application to establish a state bank here has been filed by directors of Wyoming Bancorporation. CO LO RADO NEWS ARVADA; An application by the Northwest State Bank requesting Federal deposit insurance has been approved. Capital accounts of the bank total $700,000. DENVER: The First National Bank of Denver has announced the promotion of two of its officers. R. Robert Smith, vice president and head of the investment department, has been advanced to senior vice president. Clayton T. Dietz, who was named director of the bank’s international division in March, has been promoted to vice president. BETTER TALK TO A DROVERS MAN FRED CUMMINGS BERNIE MILLER ED RIETZ RAY FENCL DENVER: Charles T. Smith has been elected cashier of Northeast Colorado National Bank, James B. Gammon, presi dent, has announced. Mr. Smith has been vice president of operations. LITTLETON: David G. Hamill has been named vice president of commercial loans at Littleton National Bank. Before joining the bank, he established his own financial consulting company in 1973 after working as a commercial loan officer for the United National Bank of Rapid City, S.D. LOVELAND: United Industrial Bank will receive a hearing on its application for a charter at 9 a.m., Monday, May 13, before State Bank Commissioner Harry Bloom. Proposed location of the bank is within a half-mile of the intersection of Prospect Drive and West Eisenhower Street. Filing the petition were J. L. Baily, Loveland; David C. James and John W. Welsh, Fort Collins, and Daniel F. Freddy, Berthoud. Capital Needs............................... (Continued from Page one) stated. The easiest way, he said, to reduce the need for external equity financing would All our computer knows how to do is work. Quickly. Efficiently. But no smile. Bill Rickert and Ken Young are the ones who smile. Especially when they’re showing somebody how our straightfaced computer works. Call Bill or Ken today. j f j b 1-800-772-2015 National Bank of Waterloo be to reduce further the dividend payout. He noted that lowering the payout ratio from 38 per cent to 30 per cent could in crease retained earnings from $31 billion to $35 billion between now and 1979. Among the quasi-equity forms, he stated, are convertible debentures, which are pop ular with banks and accepted by regulators because they hold the promise of becoming permanent capital, and straight debt with warrants. Mr. Marcus said he believed that debt with warrants offers greater struc turing flexibility than convertibles, but they are not popular because of the adverse historic connotation of warrants. He noted that the steadily increasing use of high-cost time deposits and borrowings to support asset growth has reduced the net return on earning assets to about 65 basis points. (A basis point is one one-hundredth of a per cent.) Until the 1960s, he pointed out, margins of from 90 to 100 basis points were common. Call Don Halsey He’s one of our Correspondent Banking Specialists always at your service at Des Moines’ largest independent bank. ® BANKERS TRUST 607 Locust / Des Moines, Iowa 50309 Use our toll free WATS line number: 800-362-1688 INSTALMENT DEPARTMENT PROFITS More important than ever before! PROTECT THEM Financial Center In Chicago. PHONE (312) 927-7000 THE DROVERS NATIONAL BANK OF CHICAGO .l-A 47th and Ashland Ave. Chicago, ill. 60609 Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Several hundred Upper Midwest banks utilize our single interest coverage, which we originated many years ago. No checking for primary insurance. Instalment lending protection is our only business. C a ll o r W rite: G . D. VA N W AGENEN CO . 1006 N.W . Bank Bldg., Minneapolis 55402 (6 1 2 ) 333-2261 5 Novrçdial your Gommerce aoe^ondent direct. Just call Fred N. Coulson at 234-2479, if a la ik or Linda Breidenthal at 234-2489, for the direct telephone number of your correspondent. If you I F ^ S " have any questions, please call our main bank, 234-2000. VffM C ommerce Bank o f Kansas City"* ioth&wainut Ol Because greater earnings’ retention and the use of quasi-equity financing still leave the banking industry with a capital problem, Mr. Marcus said that the third and most controversial alternative — con scious moderation of growth — may be the most desirable alternative. Mr. Marcus suggested that asset dis crimination could produce a beneficial reduction in asset growth rates through the elimination of thin margin business. He suggested that sophisticated systems are necessary for intelligent discrimination and pointed out that several of the nation’s leading banking companies are already im plementing the necessary techniques. FO R SA L E 16 N CR C la s s 41 U n iv e rsa l T e lle r M a ch in e s. C o n ta c t B illH e in z ig a t N a tio n a l B ank of D e s M o in es, 29th and In g e rs o ll, D e s M oines, Iow a 50309 or phone 5 1 5 /2 4 3 -4 1 5 1 . INSTRUCTOR W A N T ED Agri-banking program. Iowa Central Community College, Fort Dodge, Iowa. A gricultural *& Banking background beneficial. Contact Harvey Martin, 330 Avenue M, Fort Dodge, Iowa 50501. 515/576-3103 POSITION AVAILABLE Livestock loan officer with bank ex perience. Good salary, good community and good future. Write File PCV, c/o NORTHWESTERN BANKER, 306 15th Street, Des Moines, Iowa 50309. WALL STREET JOURNAL “ Cartoon Anthology” . Use in your hospital program instead of flowers. Better, cheaper. Great chuckles from a great financial newspaper! Hard cover book, 320 pages jammed with cartoons. Only $3.95. Retails for $14.95. M inim um 72 copies, please. BOB TUCKER ASSOCIATES, BOX 1222, PORT ARTHUR, TEXAS 77640. “ You’ll ALWAYS Do Better With Bob!” FOR SALE WANT ADS R ates 35 c e n ts per word per in sertion . Minimum: 12 words NORTHW ESTERN BANKER 3 0 6 I 5th St.. D e s M o in e s. Io w a FOR SALE A registered and approved one-bank holding company, which owns virtu ally all the stock in an $8 million Iowa bank - county seat town, builtin management. Act Quickly. CONTACT Richard C. Newlin Bank Investors 8450 Hickman Rd, Suite B Des Moines, Iowa 50322 Office: 278-2891 Home: 276-0038 When you need a little help ca ll us on our toll free w ats number 800-362-1615 EDDIE A. WOLF Brandt SL Sorter. Brandt Package with crimper. Call 515/244-8941 Bob Palmer or Bennett Gordon BE YO U R A R E A ’S LEADING AG BANK for as little as SI a day. Doane's Farming for Profit can be your exclusive customer relations newsletter to the best farmers in your area. Ask about free 6month sample subscription. Write D. R. Gorr, DOANE, Dept. 701, 8900 Man chester Road, St. Louis, Mo. 63144. FOR SALE 1 each, No. 200, 7 tape, NCR Proof Machine, 20 totals. $400 as is. Also, 3 each, NCR No. 137, Posting Machine, posts statement and ledger simultaneously, $400 as is. For further information, contact Dick Nietfeld, Commercial National Bank & Trust Co., Box 1267, Grand Island, Nebraska, 68801, 308-382-3100. POSITIONS AVAILABLE PRES — (Ks) small towns, need 3. Banks $15-25 Mil. Agri & Com'l lending exper........................................ $18-22,000 CONTROLLER—need 2 (Ks) (Iowa) prefer CPA w/over 5 yrs. exper.............................................................................. $25,000COM'L LN DEPT HD— must have MBA & 5-7 yrs. exper. in bank over $200MM. Heavy adm. & mktg............$40,000 AGRI-LN— some travel, 8-10 yrs. mgmt of agri-loan portfolio over $100MM; prefer MBA d e g re e ........................ $40,000 PRES.— (Mo) prefer sr. officer from bk over $100MM. Excel lent opport......................................................................$25,000 SR. OPER.— (Mo) bank over $300M M ........................ $25,000 y ■<fi y r V CLERICAL—tellers, proof oper.. loan sec'ys. ad sec'ys; need in the K C. area. Fee Paid ............................... OPEN BANKERS AVAILABLE EXEC. V.P.— small Ks. bank, college grad, under 30, for Neb, Iowa & Ks............................................................. $16,000 INST. LN— (Ks) degreed officer under 30. 2 yrs. bank lend ing exper.........................................................................$12,000 EXEC. V.P.— (Okla) VP & TO, no taw degree, age 48, prior 6 yrs in Ks. bank. Exper. includes all loans (Com’l also);correspondent balances, oper. supervision in banks under $40 mil............................................................................. $22,000 Bank personnel only. All employees are former bankers. “It TOM HAGAN & ASSOC. Box 12346 N.K.C., Mo. 64116 (816) 474-6874 takes a banker to know one" WILLIAM B. RUSSELL G. GREGORY S. GERALD B. GREAVES PLAGER WOLFE MURPHY Correspondent Bank Department Central National Bank 6-T ru st Com pany MAIN BANK, LOCUST / FULL SERVICE OFFICE AT Voi. 3 No. 53 Northwestern Banker Newsletter is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25<: per copy, $6 per year. Second class postage paid at Des Moines, Iowa. Address all Digitized formail FRASER subscriptions, changes of address (Form 3579) manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis "IT _>-k. 41
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