Full text of The Northwestern Banker : May 9, 1966, No. 969

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No. 969

Des Moines, Iowa__________________________________ May 9,1966
NATIONAL NEWS

Utah Branch Law to Supreme Court

The U. S. Supreme Court has
agreed to review a group of ca ses
testing the legality of the Utah
state iaw on branch banking.
Utah law permits banks outside
Salt Lake City to branch only if
the branch bank is acquired by
merger. Comptroller of the Cur
rency James J. Saxon has argued
that if any branching is permitted,
he should be able to approve wholly
new bank office s as branches.
The outcome of the case is
expected to cause repercussions
in other states which restrict
branch banking. If the Utah law
is upheld, the possibility exists
that there would be moves to per
mit branch banking by merger in
states which presently prohibit all
branch banking.

area increased $77,370,000 during
the first quarter of 1966, but the
rate of growth was down 13 per
cent from last year’ s first quarter
increase of $89,463,000.
The drop in the rate of growth
for the five-state midwest area
was not as severe as the decreas
es recorded in other areas of the
nation.

S & L ’s Savings Growth
Rate Down from 1965

DUBUQUE, IOWA: Christy F. Arm
strong, N.J.Schrup and C.J.Schrup
have been advanced to senior vice
presidencies by the board of direc
tors of American Trust & Savings
Bank. Mr. Armstrong and N.J.Schrup
had been vice presidents and C. J.
Schrup had been vice president
and trust officer.

The rate of growth of savings
and loan associations in a fivestate area of the midwest slowed
during the first quarter of 1966
compared to the same period a
year earlier.
A Federal Home Loan Bank
officia l reported that increased
interest returns on other invest
ments cut into the rate of growth
for savings and loan associations
in Iowa, Minnesota, Missouri,
North Dakota and South Dakota.
Net savings in the five-state

LATE NEWS...
DES MOINES: James E. Fletcher,
assistant vice president, National
Bank of Des Moines, was recently
named manager of the bank’ s new
office at 10th Street and Grand
Avenue, according to William H.
Brenton, president. The office
opened last Tuesday.

MINNEAPOLIS: First Produce State
Bank at First Avenue North and
7th Street is planning a public
open house Thursday and Friday,
May 12 and 13, to mark the com
pletion of an extensive remodeling
project, according to Roland L.
St. Clair, president.

CANADA: The Royal Bank of Can
ada has announced the appoint
ment of R .G .P . Styles as super
visor of correspondent banking,
succeeding B.M .Lam ont, who will
assume responsibilities in the
bank’ s
international
division.
Mr. Styles, between 1957 and 1958,
was specia l representative in
Chicago.
CHICAGO: The American Bank
ers A ssociation National Work
shop on the modernization of state
banking laws will be held in
Chicago Thursday and Friday,
May 12 and 13. General chairman
for the workshop will be G. Rus
sell Clark, chairman, Bank of
North America, New York, and
former New York superintendent
of banks.
NEW YORK: Robert H. Brome,
general counsel for Bankers Trust
Company, has been elected a
senior v ice president. Mr. Brome’ s
father, the late Charles Brome,
was the football coach at Omaha
High School, now Central High
School.
ST. LOUIS: Lew Holland, v ice
president of the Bank of St. Lou is,
has been elected chairman of the
agricultural
committee
of the
Greater Metropolitan Chamber of
Commerce of St. Louis. Mr. Hol
land su cceeds Darryl Francis,
president of the Federal Reserve
Bank in that city.

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H E N R Y BYERS

IOWA NEWS
CEDAR RAPIDS: Richard J. Ryan,
trust officer, has been promoted
to v ice president at Merchants Na
tional Bank. Stanley D. Miller,
John M. Hays and James H. Shaff
were elected assistant trust o ffi
cers and Richard F. Salat and
William R. O’ T oole were named
assistant cashiers.
DANBURY: A complete remodeling
of the interior and exterior of the
Farmers Savings Bank building is
underway, according to James R.
Lodwick, president. Completion of
the project is expected in four to
six weeks.
HOPKINTON: The C itizens State
Bank has purchased an adjoining
building which will be razed to
make way for the new bank build
ing which is to be completed in
September.
TRAER: A. J. Ziskovsky, cashier,
State Bank of T oledo, has been
A Nebraska Banker Will

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Register in
U .S. NATIO NAL’ S
TAOS SUITE
Wednesday

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elected president of the Tama
County Bankers A ssociation , su c
ceeding Adrian Neil, president,
Tama State Bank.
OTTUMWA: Ben G. E ilders, as
sistant vice president in the corre
spondent department at the IowaDes Moines National Bank, Des
Moines, will join the First Na
tional Bank of Ottumwa approxi
mately June 1 as a v ice president.
Mr. E ilders, associated with the
Iowa-Des Moines since 1951, has
worked in the audit and credit
departments in addition to his
most recent assignment in the
correspondent bank department.
He was elected an assistant cash
ier in 1959 and assistant vice
president in 1963. His arrival in
Ottumwa is planned to coincide
with the opening of the bank’ s new
quarters. However, a strike may
delay completion of the structure
by that time, according to Martin
Roggen, executive vice president.
WINTHROP: Lee E. B ossom , Plainfield, has been elected assistant
cashier by the board of directors
of P eop le’s State Bank of Winthrop. Mr. Bossom took his new
position last month. He had been
associated with the First National
Bank, Waverly, and was also a
bank examiner with the Iowa bank
ing department.

NEBRASKA NEWS
BEATRICE: First National Bank
and Trust Co. has filed suit in
Lancaster County District Court
asking that a March 28 order of
the State Banking Department,
granting a charter to the Beatrice
State Bank, be reversed. The suit
alleges that the department made
several errors in granting the
charter and names as defendants
Henry E. Ley, former director of

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banking, Byron Dunn, present
director of banking, the depart
ment of banking, the state of
Nebraska and the Beatrice State
Bank.
BRUNING: Directors of Bruning
State Bank have announced plans
to construct a new bank building
in the near future. Details will be
announced at a later date.
CLEARWATER: Clayton Struthers
has been named executive vice
president of the Citizens State
Bank of Clearwater.
GOTHENBURG: DeanKugler,Wray,
Colorado, will join the Gothenburg
State Bank staff as assistant v ice
president next Monday, May 16.
H, Keith Newton, with the bank
since I960, has resigned to ac
cept a position as executive vice
president of the Albion National
Bank.
LINCOLN: John Wilson has been
appointed v ice president and trust
officer at the National Bank of
Commerce Trust & Savings. Mr. Wil
son, formerly with the National
Bank of Commerce, was most re
cently associated with Merchants
National Bank, Cedar Rapids, Iowa.
LINCOLN: Mrs. Lela B. H eisey,
president, Citizens State Bank,
Carleton, has been elected chair
man of the Nebraska Group of the
National A ssociation of BankWomen, Inc. at the organization’ s
two-day meeting here. Mrs. Dor
othy T . Shaw, assistant cashier,

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Farmers State Bank, Lexington,
was named co-chairman; Mrs. E liz
abeth T . Coad, assistant cashier,
Omaha National Bank, was named
secretary, and Miss Levetta H os
ier, executive vice president,
Fullerton National Bank, was
elected treasurer.
OMAHA: The annual Frolic and
Field Day of the Iowa-Nebraska
Investment Bankers will be held
at the Omaha Country Club Thurs
day, May 19. The event w ill be
preceded by a cocktail party and
dinner at the Omaha Athletic Club
Wednesday evening, beginning at
5:30.
OMAHA: Robert Zabawa, Omaha
National Bank, has been elected
president of the National A ss o ci
ation
of Credit Management’ s
Nebraska-Western Iowa unit.
OMAHA: Directors of the Federal
Reserve Bank of Kansas City and
its Omaha branch will discu ss
economic and monetary develop
ments at their annual joint board
meeting Thursday, May 12, at the
17th and Dodge street building.
PAPILLION: Gary B eck, agricul
tural representative, last week left
Clarke Bank to become assistant
cashier and farm service director
at Union State Bank in Clay Cen
ter, Kansas.
SALEM: A man and woman were
arrested in Kansas last week and
were charged with the robbery of
the Bank of Salem. The bank was
robbed early last week of approxi
mately $1,000 by a man who warned
of an armed accom plice in a wait
ing car.

MINNESOTA NEWS
Nominate MBA Candidates
For Top Elective Posts

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NATIONAL BANK
Bob Buenneke

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v ice president. Nominated to su c
ceed Mr. Hubbell as vice president
in 1966-1967 was Paul W.Gandrud,
executive vice president, Swift
County Bank, Benson. A .D anFiala,
president, Ogilvie State Bank, was
nominated for treasurer, to succeed
Wils A. Garratt, president, Farmers
& Merchants State Bank, Preston.
Nominated to three-year terms on
the board were Dyer J. Brogmus,
president, Minnesota State Bank,
St. Paul; George B. P h illips, vice
president, Wright County State
Bank, Monticello, and William G.
Kirchner, president, R ichfield Bank
& Trust Company.
CARLOS: Paul W. Bergien, vice
president, Alexandria State Bank,
has purchased controlling interest
in the First State Bank, Carlos.
Mr. Bergien is president of the
Carlos bank. Harlan Schunemen is
v ice president and cashier.
CHAMBERLAIN: H. O. Eke land,
executive v ice president, TriCounty State Bank, Chamberlain,
has sold his interest in the bank
to Orrion R . Barger and Lee Schoenhard, present stockholders and
directors, and plans to retire end

ing a 46-year banking career. L .B .
Cronholm is president of the bank;
H .B . Schelle, executive v ice pres
ident; C .C .N atvig, vice president,
and Fred M. Houda, vice president
and cashier and manager of the
Kimball branch.
MINNEAPOLIS: Clark T . Arnott,
executive vice president of Edina
State Bank, has been promoted to
president and Joseph W. Desnick
has been named to the board.
STAPLES: James D. Randgaard,
cashier, Staples State Bank, has
announced his resignation to ac
cept a position with V alley Na
tional Bank, Phoenix, Arizona.
WILLMAR: Oscar W. Smith has re
signed as vice president and cash
ier, American State Bank, Minot,
North Dakota, to become president
of the Bank of Willmar.

SOUTH DAKOTA NEWS
BELVIDERE: Burglars recently
broke into the Belvidere State
Bank, knocked the locks off the
vault and made off with $3,163 in
silver.

The nominating committee of
the Minnesota Bankers A ss o c i
ation, at its annual meeting last
Tuesday, selected a slate of
candidates for the three top e le c
tive MBA posts and three expiring
terms of the MBA Council of Ad
ministration. Nominated to su c
ceed D. H. Gregerson as president
of the association at the June
convention here was Robert J.
Hubbell, president, Eastern Heights
State Bank, St. Paul, current MBA

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NORTH DAKOTA NEWS
Thorndal Succeeds Rich
As State Bank Examiner
Eugene R ich, North Dakota
state examiner, has resigned his
post to become executive vice
president of the new State Bank of
Fargo, which was to open for
business last week. H. L. Thorn
dal, Jr., president and cashier,
Columbus State Bank, has been
named by Governor William L. Guy
to su cceed Mr. Rich in the post,
effective July 1. G. W. Ellwein is
acting state examiner. Mr. Thorn
dal, 39, has been with the Colum
bus bank for 12 years. He will
dispose of his interest in the
bank before taking the supervisory
post.
JAMESTOWN: Darwin Strobel, a
native of Kulm, North Dakota, has
joined the Stutsman County State
Bank here as cashier, succeeding
R. Dean H egeholz, whose future
plans have not been announced.

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BANK PLANNING
Waterloo, Iowa

MONTANA NEWS
BOULDER: Albert Leuthold, state
superintendent of banks, has is
sued a certificate of authorization
for incorporation and organization
of The First Boulder V alley Bank.
Organizers are Pete Combs, R. T.
Smith and Joseph Maitin, all of
Ennis and all proposed directors
of the new corporation.
HELENA: Michael Dennis McElroy,
26, Los A ngeles, was arrested re
cently and charged with the day
light robbery of $37,600 from First
National Bank and Trust Company,
Helena, le ss than a week earlier.
A total of $27,500, sent by R ail
way Express to California, was
immediately recovered.

WYOMING NEWS
CHEYENNE: Congressman Teno
R oncalio, expected to be the
Democratic candidate for the U.S.
Senate in next fa ll’ s election , has
stepped down as chairman of the
board of Cheyenne National Bank,
which he helped establish six
years ago.
Three former assistant vice
presidents in the bank have been
advanced to vice president. They
are Eugene B. Bonkiewick, Thom
as W. Kerrigan and Ralph L.O w en.
Charles L. Scribner, formerly vice
president, has been named 1st v ice
president and Robert A. Weidner
has been promoted from assistant
cashier to assistant v ice president.
Donn J. R oss and Joseph C. Dereemer have been elected assistant
cash iers.

COLORADO NEWS
BRIGHTON: Robert R.
has been appointed an
cashier at First Bank of
He had been associated
Central Bank, Denver.

Hallmark
assistant
Brighton.
with the

DENVER: Fred L. R ees, former
deputy state banking commissioner,
died recently following a short
illn ess. Mr. R ees, 57, was with
the state auditor’ s office at the
time of his death.

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M em ber Federal Deposit Insurance Corporation
No. 969 Northwestern Banker is published five times monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des

Moines Iowa 50 30 9. Subscription 50tf per copy, $4 per year. Second c la ss postage paid at Des Moines, Iowa. Address all mail
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Full text of The Northwestern Banker : May 9, 1966, No. 969

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