The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Des Moines, Iowa B ofA CEO Tells Livestock Symposium — # A g M en, Lenders M u st ‘ H ang in There’ HOSE involved in agriculture, producers and their lenders alike, must adopt a long-term com mitment to “ hang in there,” Samuel H. Arm acost, president and chief ex ecutive officer o f Bank o f America, said recently. In remarks prepared for delivery at the California Livestock Symposium in Fresno, Mr. Arm acost said that “ an in-again, out-again ap proach” is not the way to get ahead in the business. Likewise, he said, bankers should take a long-term view o f agriculture. “ That means sticking with agricultural lending during good times and bad, carrying over credits when necessary,” he added. Mr. Arm acost said it also means providing solid financial guidance as well as money. Sometimes addition al credit is not the answer, he told the audience. He said a better alternative m ight be selling o ff poorly utilized or excess assets, rather than increasing indebtedness. “ A bank that allows borrowers to become so overextended that m ost of the proceeds o f their labor are go ing to the lender, with little left over for them, is doing a disservice to both banking and farm ing,” Mr. Arm acost declared. T • • • _ 9 ^ 9 ^ A The Bank o f Am erica president recounted for the audience a number o f efforts made by this and other governm ents to shelter farmers from the current hostile environ ment. Mr. Arm acost said many o f these attem pts have tended to com pound the problem rather than relieve it. “ Government program s aimed at propping up farm incomes frequent ly backfire by encouraging farmers to increase production,” he stated, and that with these governmental m oves and counterm oves, “ we are only shooting ourselves in the foot. “ W e need to turn the pages (of history) back no further than the Hawley-Smoot Tariff o f 1930 for a chilling exam ple,” he added. “ W hat began as a relatively simple measure to protect Am erican agriculture, snowballed into legislation that raised tariffs on more than a thou sand items — setting o ff a full-blown trade war.” May 9,1983 Despite the number o f “ clouds on agriculture’s horizon,” Mr. Arma cost said this should not be allowed to obscure the numerous opportun ities that exist for the alert farmer or rancher. He said that with meat prices ex pected to remain relatively firm in 1983, livestock producers are in a particularly good position to build for the future. The grow ing demand for meat products in other countries as a result o f the W esternization o f diets taking place in Japan and other parts o f Asia was cited by Mr. A r m acost as an opportunity for live stock producers. He said that rising living standards in many developing countries also are boosting meat consum ption worldwide. Concluding, Mr. Armacost advised his audience that the key to success is “ to be alert to new opportunities, to devote more attention to mar keting, and to approach your bus iness as a long-term commitment. □ Iowa News The 35th Annual Conference o f the Iowa Trust Association is being held Wednesday and Thursday, M ay 25 and 26 at the M arriott H otel in downtown Des M oines. Registration will begin at 8:00 a.m. on the 25th with a hospitality suite available on the 24th for early arrivals. A variety Don’t gam ble when choosing a correspondent bonk. Com e to the professionals. For any correspondent bonking need . . . overline assistance, data processing services, investment counseling . . . just give us a coll. We're the professionals who put the response in correspondent bonking. ucb CENTRAL OF DES MOINES, N.A. • MEMBER FDIC • TOLL FREE NUMBER (800)362-1615 Digitized for _______ FRASER^AFFILIATED W ITH UNITED CENTRAL BANCSHARES, INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis W illiam D. Greaves, Vice President 2 o f speakers has been assembled to both entertain and enlighten those attending the conference. G olf and tennis will also be available at the Des Moines G olf and Country Club. COUNCIL BLUFFS: The board of directors o f First National Bank has elected Lee H. W icht, vice president o f operations, and prom oted Jerry Kelso to assistant vice president. Prior to joining First National, Mr. W icht served as vice president of planning with Omaha National Bank where he was em ployed for 10 years. M ARION : Clair J. Lensing has been named president o f Farmers State Bank. He succeeds M orris F. Neigh bor, who will advance to chairman of the board. Mr. Neighbor has served as president since 1968. Prior to joining Farmers State in 1966, Mr. Lensing was a senior bank examiner with the Iowa Department o f Bank ing. Nebraska News The Nebraska Bankers Associa tion Voluntary Em ployees Benefici ary Association will be conducting a series o f six regional meetings in M ay to review its group insurance program s. Since some sensitive areas in the health plan will be dis- ASK JERRY TRUDO to make MNB work for you. Toll free 1-800-332-5991 cussed, the meetings will be lim ited to one senior officer from each bank. M eetings will begin prom ptly at 2:00 p.m. and adjourn by 4:00. The schedule of dates and locations follows: M onday, M ay 16, H oliday Inn Northeast in Lincoln; Tuesday, May 17, Best W estern Regency W est in Omaha; Tuesday, M ay 17, Holiday Inn in Grand Island; Wednesday, M ay 18, Best W estern Villa Inn in Norfolk; W ednesday, M ay 18, Best W estern Circle “ C” in North Platte, and Thursday, M ay 19, Scottsbluff National Bank in Scottsbluff. General Bank Equipment: & * * * The W estern Nebraska Group of the National A ssociation o f Bank Women will host several hundred bank women from across the state at its 28th Annual State Conference, M ay 12-14, at the Scottsbluff Inn, Scottsbluff. This year’s theme for the con ference is “ N ABW ’83 Strategies for Success.” Jo Van Schuyver, market ing manager o f Scottsbluff National Bank, serves as state conference chairman. M ITCHELL: R oy Dinsdale, 56, of Palmer and Pat Hughes, 32, of Lex ington, have purchased the First Na tional Bank in M itchell from LeRoy D. M orse, president; Ken D. Hubbs, executive vice president; Quentin C. Morse, senior vice president and cashier, and Charles F. Lee, vice president and ag rep. The two Morses and Mr. Hubbs have resigned their positions, and Mr. Lee will con tinue with the bank in his present post. Mr. Hughes, who was assis tant vice president o f The Farmers State Bank and Trust Company in Lexington, owned by Mr. Dinsdale, is m oving to M itchell as president of First National. Dave Oakeson, assis tant cashier in Mr. Dinsdale’s Cit- Member F.D.I.C. A 'BANKS OF IOWA’ BANK Systems, Inc. RR 45, Box 115 Hiway 7 3 ,3 }/i Miles North of Int. 680 Omaha, Nebraska 68152 (402)453-3000 _______Lease* R ent* Buy_______ izens National Bank & Trust Co. of Torrington, W yo., has m oved to M itchell as vice president. STROM SBURG: Randy Gustafson has joined the Strom sburg Bank as a vice president, it was announced by Warren E. Johnson, president. For the past four years he has been with the National Bank o f Com merce, Lincoln, as farm and ranch officer in the Kearney field office. Prior to that he had six years o f ag lending with the Farm Credit Sys tem in Columbus, Kearney and Lin coln PCAs. O G ALLALA: Michael D. W elsh has been appointed manager and vice president of a newly-established m ortgage lending department at the First National Bank. He had served since 1971 as regional manager and senior vice president o f Nebraska Savings & Loan in Ogallala. Recipe for success.. X Bemie Miller, Correspondent Banking Officer, has over years o f banking experience, ainfl the Help yourself by calling Bernie Miller at 319/562-1841.......... ........... ;------ Merchants ^ National Bank 151 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Portable Modular Bank Building EPIC and EBS................. IhgJ&JOk , ^ Ag Bank President: “ Best Ag Loan Officers Not Always Found in Banks” Editor’s Note This interesting hiring philoso phy is presented by AGRlcareers Inc., an ag banking personnel firm with offices at New Hampton and Massena, Iowa. Scott Anderson. Both men, says highly leveraged for confinement Rouse, exhibit the skills and per livestock facilities and land ac sonality characteristics needed to quisition. handle today’s complex ag credits, and work effectively with farmers. Prior to joining the bank, both men They m ust be problem s had been employed by the PCA. solvers, yet understand that “ Until recently, farmers often they cannot m anage the Pointing at tough economic deluded themselves when acquir farm. times in rurai America, Iowa Bank ing and structuring their debt,” President David Rouse is filling continues Rouse. “ If their cash loan officers vacancies from out flow didn’t work, inflation was there to bail them out. side banking per se. “A little slippage or mistiming But now, not only are cash flows one way or the other can create dis President of Brenton State Bank in Eagle Grove, Rouse says, not working because of high in aster, if the banker and the farmer “Often, farmers need the kind of do not have a good plan and an al financial help from their lender ternate to follow,” exclaims Rouse. that is not always avail Rouse feels good ag able. City banks as well as lending officers must have small town banks frequent good credit judgment and ly do not have the trained intelligence. Communica personnel capable of mak tions skills include the ing the right, timely good ability to listen, maturity, credit judgments called integrity, and sales ability. for,” says the 50-year-old They must be problem solv bank president. ers, yet understand that “ Normally, advancement they can not manage the to ag lending has been up farm. That has to be left up through operational and to the farm operator. general lending depart “The ag lender must be ments within the bank. This comfortable working out hasn’t always prepared side the bank— making lenders a d eq u ately for calls on farmers. If you working with present-day don’t get out in the country, farmer customers. you don’t know what’s go “ It is well known that ing on,” continues Rouse. many farm operations have AGRIcareers’ client employer David Rouse, president of “Agriculture has a good Brenton State Bank, Eagle Grove, Iowa, hired two ag lenders lost a considerable amount future, make no mistake with PCA experience. Assets at the bank, smallest in the of money in the past two about that. But the banking 17-unit Brenton system, total $20 million. years. They are literally eating up industry needs specialists in ag their net worth. What we need are lending if we expect to adequately skilled lending officers to help as service this increasingly complex many farmers as possible survive terest rates, high energy costs, and important part of the bank,” these difficult times.” necessary principal payments, and says the bank president. of course, poor prices, but depre Ag Banking “This (bank experience) hasn’t ciated values of land, equipment, and other fixed assets have caused always prepared lenders ade People Specialists serious and complex financial quately for working with pre Hire Better...Faster...Easier! problems. Call without cost or obligaion to find out sent day farmer customers.” “ Many bank employees were ac who is available. Confidential. Employers have been paying us to find — David Rouse customed to farmers borrowing the people they need since 1968. $40,000 to $50,000 for operating ex Phone our banking specialists: Linda at penses,” Rouse continues. “ But 515/394-5827 or Jeannie at 515/263-9598 (If no answer 712/779-3567) Ron Milbach, the bank’s senior now, many farmers borrow $300,000 » NATIONWIDE ag loan officer, was located or more, and farm 600 acres and through AGRIcareers a little over up. Several families may be in mJ THE ORIGINAL AGRICULTURAL RECRUITER New Hampton, IA 50659 or Massena, IA 50853 two years ago. Working with him is volved, and the operation may be , aqn careers, inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis WANTED: BANKERS AG BANKERS NOW AVAILABLE Never a Fee From an Employee Personnel Specialists Serving America’s Ag Lenders Confidential Let Us Help You Hire Better, Faster, Easier AGRIcareers seeks out candidates conducive to pro gressive banking: DEVELOPING NEW BUSINESS and MAKING QUALITY LOANS. Two ag banking specialists, Jeannle and Linda, work full tim e checking references, in terviewing and evaluating individuals w ith ag lending ex perience. It costs nothing to see if AGRIcareers can recommend a better candidate than you can find on your own. We get paid only when we produce. You are invited to call us today without obligation. NL-1 CREDIT SALES—Super sharp regional supervisor for a non-ag financial service. Responsible for total operation of 10 financial service branches, receivables of $20 m il lion, supervision of 10 branch managers, nine asst, man agers plus an office sta ff o f 14. Also involved in training, auditing, marketing plans, budgets and projections. Twoand-one-half years of college. Solid farm background. Mar ried. Age: 34. $30,000 + . Call Linda at 515/394-5827. NJ-2 AG CREDIT— Really has a lot to offer; 1% years cur rent experience as PCA loan officer, won award for bring ing in most new members, receives Master’s Degree this semester and references say, “ Competitive, outgoing and aggressive...really knows ag credit.” B.S. An. Sci. Married. Age: 27. Live IL. $18,000 + . Call Jeannie at 515/263-9598 (if no answer 712/779-3567). “ I’d go through AGRIcareers again.” — David Rouse, President Brenton State Bank Eagle Grove, Iowa NL-3 AG CREDIT— Looks like a banker...sharp! Offers three years w ith FLB managing branch office, supervising loan closing, budgeting, advertising and public relations. Farm raised. B.S. Ag Economics. Married. Age: 28. Lives MN. $26,000 + . Call Linda at 515/394-5827. NL-4 VP/AG LOAN OFFICER—This sharp senior ag loan officer offers four years w ith FLB. Strong points are e ffi ciency, productivity and sound judgement. Has R.E. Bro kers License. B.S. Education. Married. Age: 29. Lives Wl. $25-28,000. Call Linda at 515/394-5827. NL-5 AG BANKING—Very personable branch manager of a $11 m illion PCA branch. Stable individual, record of quality and business development skills. Receives ex-cellent references. Two degrees...B.S. An Sci. and Voc. Ag. Married. Age: 38. Lives IA. $24-28,000. Call Linda at 515/394-5827. NJ-6 AG LOAN OFFICER—After tw o years plus as AVP w ith FLB where he handles major share of loan volume. Wrote 50% of new loans put on books last year. Area bankers refer others to him. References say, "A real go getter, no w allflower, well accepted by all ages, makes ac curate diagnosis, creative.” B.S. Farm Op./Economics. Married. Age: 24. $25,000. Call Jeannie at 515/263-9598 (if no answer, 712/779-3567). “ I didn’t have to review a hundred resumes.” — Dennis Henning, President First Trust & Savings Bank Wheatland, Iowa NJ-7 BANK OFFICER—Over 20 years experience w ith large bank holding company. Strong in ag, commercial and R.E. loans, operations, marketing, R.E. and ins. sales. References recommend highly. Graduate school of Bank ing, Ag Credit & R.E. Married. Age: 44. Lives IA. $30,000. Call Jeannie at 515/263-9598 (if no answer 712/779-3567). NJ-8 AG CREDIT MANAGEMENT—Over 15 years in ag credit as supervisor and regional manager w ith tw o major ag equipment corporations. Experienced in retail and wholesale credit for dealer organizations. References say, "Good man...strengths include analysis o f financial statements, good judgement and collections.” Married. Age: 38. Open on relocation. $32,000 + . Call Jeannie at FRASER (if no answer, 712/779-3567). 515/263-9598 Digitized for https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NJ-9 AG BANKER— 10+ years in PCA. Currently branch manager. Responsible fo r $11 m illion in loans and large in crease in insurance sales. Licensed in all line & R.E. B.S. in Bus. Admin. Married. $30,000. Call Jeannie at 515/263-9598 (if no answer, 712/779-3567). NL-10 AG/COMMERCIAL LENDING— Experience includes lending, credit supervision and management of a $18 million ag institution. Doubled loan volume in a year. Very polished...a good motivator. B.S. & M.S. Ag. Economics. Married. Age: 34. Lives IL. $35,000. Call Linda at 515/394-5827. SPECIAL NOTE This is a partial listing of candidates and openings due to confidentiality requirements, space limitations and printing deadlines. For more informa tion, call Jeannie or Linda. NL-11 AG FINANCE—Available due to lack of promotion potential; offers two-and-one-half years w ith FLB as a loan officer. Has part-time insurance sales experience. Refer ence says, “ He has a sales personality, gets along well, fast learner and a fine dresser.” B.S. Business Manage ment. Married. Age: 24. $20,000. Call Linda at 515/394-5827. NJ-12 AG LOAN OFFICER—Two years w ith PCA. Handles $6 m illion in loans, makes 80% of new business calls at his branch, and has added alm ost $100,000 new QUALITY loans; supervisor com plim ents him on his good judge ment. Also works on problem loans and insurance. Enjoys it all, but wants bank position. B.S. Ag. Bus. Single. Age: 24. Lives IA. $23,000. Call Jeannie at 515/263-9598 (if no answer, 712/779-3567). If you have been considering a change, now is an excellent tim e while the demand for qualified ag lending candidates is especially strong. As a third party, we can offer con fid en tia lity usually required by both the bank employee and employer. Either Linda or Jeannie would be happy to discuss what kind of exciting career opportunities might be available for a person w ith your experience. IOWA NW-1 CREDIT SUPERVISOR—Analyze and make credit re quests, service and collection. Two years ag lending. IA, NE, KS. $22-27,000. NW-2 AG LOAN OFFICER—Ag lending and farm calls fo r a $50 m illion bank w ith ag loans of $10 m illion. Some farm management. S. IA. 3-5 years ag credit. $20-25,000. NW-3 AG LENDER—$17 m illion ag loan volume. S. IA. Ex perience in credit, collections and problem solving. $20-30,000. NW-4 CEO— Responsible for a $10 + m illion bank in all phases. IA. Minimum five years as number 1 or 2 man in a bank. Ag degree. $20-35,000. NW-5 AVP— Extending farm credit fo r a $45+ m illion bank. Minimum tw o years ag credit experience. Business development skills. IA. $23-26,000. NW-6 AG REP—Calling on ag custom ers for a $20 m illion bank. Needs ag background and a year’s experience in credit. IA. $16,000-18,000. NW-7 MKTQ. OFFICER—Sell bank services. Sales and marketing experience. IA. $18-20,000. NW-8 CORRESP. BANKER—$150+ m illion bank. Total ag lending. IA. Five years banking experience. $25-30,000. NW-9 COMM. OFF—$100+ m illion bank. E. IA. Two years commercial lending experience. $25,000. NW-10 AG REP—$100+ m illion bank...one man dept, responsible for $5 m illion in ag loans. E. IA. Two years ag banking. $20-25,000. NW-11 AG LOAN REP— Lending and develop new bus iness. IA. Banking experience. To $25,000. “AGRIcareers is a valuable “ AGRIcareers was extremely source of qualified prospects.” helpful!” — Nels Lindquist, Exec. V.P. First State Bank of Gowrie, Iowa —James Neuroth, Senior VP 1st Bank of Albert Lea, MN MINNESOTA NJ-13 AG BANKING— Five years with FLB, has worked his way up to AVP. Has handled complex, m ultiple entities, problem loans and new business calls. Sound credit ap titude, custom er relations and farm background. Refer ences say, “ hope he stays...we don’t w ant to lose him .” B.S. Ag. Bus. Married. Age: 27. Lives IA. $26,000 + . Call Jeannie at 515/263-9598 (if no answer, 712/779-3567). NJ-14 AG REP— Has been ag rep fo r branch of large holding company for past year. Responsible for 1/3 of $7 million ag portfolio, new business calls, operations and collection experience also. B.S. Ag. Bus. (ISU Dean's List) plus courses in bank management, collections and con sumer bankruptcy. Engaged. Age: 23. Lives IA. $18,000. Call Jeannie at 515/263-9598 (if no answer, 712/779-3567). NL-15 THREE TOP BANKERS— Extreme confidentiality re quested by these three agriculturally oriented bankers w ith 5-8 years experience. All have excellent records, w ill relocate and have degrees. Ages: 27, 28 and 35. $26,000, $28,000, $31,000. Cannot send resumes w ithout their knowledge and consent. Call Linda at 515/394-5827. AG BAI1KING SPECIALISTS SINCE 1968 (5 1 5 )3 9 4 -3 1 4 5 N EW H A M P T O N , IA 5 0659 (7 1 2 )7 7 9 -3 7 4 4 M A S S E N A , IA 5 0853 I NATIONWIDE 1CAREERS, INC. ■ THE ORIGINAL AGRICULTURAL RECRUITER y NW-12 AG LENDER—3rd man of a 3 man dept. S. MN. Min. 2 years ag credit experience. $20-25,000. NW-13 AG REP—$7% m illion ag loans. MN. 1-2 years banking. $18,000-20,000. NW-14 CREDIT SUPERVISOR—Analyze and make credit requests, service and collection. Two years ag lending. MN, Wl, MD. $20,000-24,000. WISCONSIN NW-15 EVP— In charge of $10 m illion ag credit portfolio. Wl. Min. of 3 yrs. ag crédit experience. Management skills. $25-35,000. NW-16 AG REP—Assist VP w ith farm calls and ag credit duties for $35+ m illion bank. S. Wl. 2 yrs. ag credit ex perience. $18-24,000. SOUTH DAKOTA NW—17 AG LOAN OFF— Head up $20 m illion ag dept. S. SD. At least five-ten years ag credit experience. $25-30,000. ILLINOIS NW-18 AG LENDER—Ag credit and general banking duties. Minimum 3-5 years banking experience. IL. $20-25,000. MISSOURI NW—19 FINANCIAL SERVICES MARKETER—Assist in selling farm record keeping, tax planning, leasing, in surance serv. for major lending institution. 5 years related experience required. MO. $32,000-35,000. NEBRASKA Several positions in medium sized ag banks as ag loan o f ficers to CEO. Salaries from $15,000-40,000. Iowa Group M eetings Continue Group 5 — Council Bluffs man Donald L. Curry, presi dent, Farmers Savings Bank, Massena. W elcome - Duane Godfrey, president, Council B lu ffs Chamber o f Commerce. Introduction o f Guests -Don ald L. Curry. Current Comments - L.C. (Bud) Pike, president, IB A and president, Farmers Sav ings Bank, Grundy Center. News & Views - Thomas H. Huston, Superintendent of Banking, State o f Iowa. Association A ctivities - Neil Milner, executive vice presi dent, IB A . Current E conom ic Condi tions - H. W ade German, econom ist, U nion P acific Railroad. Election of officers and adjournment o f after noon program. 5:30 Social Hour - Cash Bar. 6:30 Banquet and introduction of guests - Donald L. Curry. Entertainm ent - M usick’ s Recreation, Council Bluffs. D rawing o f D oor Prizes -Council Bluffs H ost Banks. Adjournm ent o f evening pro gram. Bankers attending the Group 5 Annual M eeting will meet at the Lakeshore Country Club, Lake Manawa, Council Bluffs, on M ay 23. G olf is available in the morning with reservations re quested. Group 5 Chairman Don ald L. Curry, president, Farm e rs S a v in g s Bank in Massena, will call to order the after noon bu sin ess m e e tin g . T h e D.L. CURRY evening banquet is scheduled for 6:30 followed by entertainment by M usick’s Recrea tion. Advance registration can be made with Dennis L. Ochsner, vice president, First N ational Bank, Council Bluffs, Iowa 51501. A.M . 10:00 G olf available - reservations requested. P.M. 2:00 Registration, Council Bluffs Group 12 — Okoboji Special entertainment for the H ost Banks. 2:30 Cocktails - Courtesy U.S. Group 12 Meeting being held May 24 in Okoboji, will feature Bobby Check Book Company 3:00 Call to Order - Group 5 Chair- Layne and his Orchestra, for music Hear Ye... Hear Ye... Announcing The Group 12 Meeting May 24th — Okoboji 5 M ark Your Calendar N O W for the GROUP V Annual Meeting Monday, May 23 Lakeshore Country Club Lake Manawa Council Bluffs A.M. 10:00 Golf-reservations requested. P.M. 2:00 Registration. 2:30 Cocktails - Courtesy U.S. Check Book Company. 3:30 Business Meeting. 5:30 Social Hour. 6:30 Banquet, entertainment. YOUR HOSTS: Council Bluffs Savings Bank * * * First National Bank * * * State Bank & Trust 8:00 a.m. Golf—Brooks’ Golf Course. Contact Keith Campbell, Citizens State Bank, Sheldon, for details and tee times. 2:00 p.m. Registration—The Lodge at Okoboji, Lobby. 4:00 p.m. Business Meeting—Group Chairman Ed Leahy, president, Northwestern State Bank, Orange City, presiding. 5:30 p.m. Social Hour—Wimbledon Room 7:00 p.m. Banquet—Prime Rib in Grandview Showroom followed by entertainment and dance. ENTERTAINMENT Bobby Layne and his Orchestra with featured vocalist Truday DuMay will perform for listening and dancing. The orchestra specializes in the big band sound, playing a variety of music that stretches from the ’30s to the latest hits. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis REGISTRATION Advanced - Dinner and Entertainment............... $12.50 At the Door - Dinner and Entertainment...............$15.00 Return Advanced Registration to: Dennis L. Ochsner, v.p. First National Bank Council Bluffs, Iowa 51501 6 Group III Annual Meeting May 26 Clear Lake Surf Civic Center A.M. 10:30 Registration. Lobby of Surf Ballroom. P.M. 12:00 Libation Time. 12:30 Business Luncheon. Surf Ballroom. Spouse Activities Pheasant Run Restaurant West of Mason City 12:30 Live Music. 1:00 Luncheon & Style Show. 1:00 Welcome. Speaker: Dr. Harvey Rosenblum, Federal Reserve Bank of Chicago. IBA Reports. 5:00 Social Hour. 6:00 Banquet. Entertainment The 100 Voices o f... The River City Barbershop Chorus https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis and dance. The Layne Orchestra features the big band sound with everything from songs of the ’30s to th e la te s t hits. The annual men’s golf tourn ament w ill be held at Brook’s Golf course with te e -o ff tim es from 8:0 0 to E-J- LEAHY 11:00 a.m. An 18-hole handicap must be submitted and you must tee-off by 11:00 to qualify. Those in terested in golfing should send handicaps and desired starting times to Keith Campbell, president, Citizens State Bank, Sheldon, by May 17. P.M. 2:00 Registration - Lobby of The Lodge at Okoboji. 4:00 The Business Meeting will begin with a welcome from G roup 12 Chairm an Ed Leahy, president, Northwest ern State Bank, Orange City, followed by remarks from L.C. “ Bud” Pike, president, IBA; Tom Huston, Superin tendent of Banking, and Neil Milner, executive vice presi dent, IBA. 5:30 S ocial H our - W ibledon Room. 7:00 Banquet - Prime Rib in Grandview Showroom. Intro duction of Guests. Entertain ment and dance provided by Bobby Layne and his Or chestra. enjoyable mix of barbershop and fun songs. A.M. 8:00 Golf, Fort Dodge Golf and Country Club. P.M. 2:00 Registration, Starlite Village Motel. 3:00 Welcome by Douglas McDer mott, president of the Home State Bank, Jefferson, and Group 2 chairman. Special guest speaker — John Chrystal discussing the status of “ American Versus Russian Agriculture in the ’80s.” Panel presentation featuring: Tom Huston, Superinten dent of Banking; Neil Milner, executive vice president of the IBA; Wes Ehrecke, gov ernment relations/marketing director of the IBA; Dale Dooley, president ITS, Inc.; A1 Tinder, executive director, Iowa Bankers Insurance & Services, and Sam Callahan, president, Iow a Bankers Mortgage Corporation. 5:30 Social Hour. 6:30 Banquet. 8:00 Remarks by L.C. “ B ud” Pike, IB A president and president o f the Farmers Savings Bank in Grundy Center. E ntertainm ent — “ F irst Class Male.” Group 3 — Clear Lake The Surf Convention & Civic Center will be this year’s location for the Group III Annual Meeting Group 2 — Fort Dodge being held Thursday, May 26, in L ake. Special guest speaker for the C lear Group 2 Meeting being held May 25 Bankers attend in Fort Dodge is John Chrystal, who ing the meeting will speak on the status of “ Ameri will enjoy the sounds o f The can versus Rus River City Bar sian Agriculture bershop Chorus, in the ’80s.” Be a group of over sure and bring 100 men whose your golf dubs common bond is to th e F o rt Dodge G olf and the joy mid fdG0 em m o n s lowship of sing C ountry C lub. ing and preserving the Barbershop T e e -o ff tim es style harmony. A spouses program sta rt at 8:00 indudes live music at 12:30 followed U W ,n H r ^reser D. MCDERMOTT by a luncheon and Spring & Summer 11:30, ana vations need to be made with Craig Style Show? All spouse activities Graham at area code 515/955-8551. _______________________ _ Featured entertainm ent for the GROUP M E E T IN G S ... evening is “ First Class Male” — an (Turn to page8, please) m • 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, Decorah, Iowa. • IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITIES • $ 25,000 1 $ 25,000 25,000 25,000 25,000 75,000 # $100,000 $100,000 • $100,000 9 1/8% June 1,1986 9 1/2% 6.50 $125,000 June 1, 1987 June 1,1988 June 1, 1989 June 1,1990 June 1, 1991 9 3/8% 6.70 7.00 7.20 7.40 7.60 $125,000 June 1, 1992 8% June 1,1993 8.20% June 1, 1994 7.80 8.00 8.20* 8.40% June 1, 1995 8.60% June 1,1996 8 3/4% 8.40* 8.60* $125,000 June 1,1997 8.90% 8.75* $150,000 June 1,1998 9% NRO* $150,000 175,000 200,000 200,000 175,000 June June June June June NRO* NRO* NRO* NRO* NRO* 1, 1, 1, 1, 1, 1999 2000 2001 2002 2003 *Callable June 1, 1993 at 100% LEGALITY TO BE APPROVED BY DAVIS, HOCKENBERG, WINE, BROWN & KOEHN DES MOINES, IOWA lk The ° [ Decorah the county seat, is located in Winneshiek County at the junction of U.S. Highway No. 52 and State Highway No 9 in the northeast corner of the State. The City is approximately 115 miles north of Cedar Rapids and about 150 miles south of Minneapolis/St Paul. The City is the major trading center for the surrounding agricultural area. Crops include: corn, oats and hay. Larger employers within the City include Luther College; Carlson Material Co., Winneshiek County Memorial Hospital and Rockwell-Collins Corp. The largest taxpayers in ^ S I ^ i ^ n « « 888688S eon inf l^ cle :'nterstate Power Co. - $2,456,790; Cam car Manufacturing Co. - $2,013,567; W isconsin Dairies •$1,724,371 Cliff House •$1 630,552; and Northwestern Bell Telephone Co. - $1,555,750. There are two commercial banks serving the com munity with deposits exceeding $105,582,000.00. The current population is estimated at 7,392. These bonds are being issued for the purpose of constructing a wastewater treatment plant and sewer and water system extensions. 0 • FINANCIAL STATEMENT Actual Valuation, 1983 Assessed Valuation, 1983/84 Net Direct Debt, Including this issue Net Direct and Overlapping Debt Population, 1982 estimate: 7,392 Net Direct Debt: Combined Net Debt: $130,417,212.00 99,158,261.00 2.448.686.00 2.646.982.00 $303.51 per capita $328.08 per capita The Information contained herein Is not guaranteed, but is derived from sources we deem reliable and is that on w hich our purchase o f 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 Meet the problem solvers. GROUP M E E TIN G S... (Continued from page 6) will be at the Pheasant Run Rest aurant, W est o f Mason City. H ost bank for the m eeting is State Bank o f W averly, with Fred W . Hagemann, bank president, as secretary. A.M. 10:30 P.M. 12:00 Dick Muir 12:30 Larry Russell 1:00 Steve Panknin Jeff Goble Dave Dickens Melissa Smith \ \ f e’ll meet your needs _w_* for bankcard services, oan participations and quality investment portfolio recommendations. lb UN ITED MISSOURI BANK Q fty Member FD,C o f ^ 3 , 3 5 n # a > United we grow.Together. 5:00 6:00 10th and Grand ° P.O. Box 226 Kansas City, Missouri 64141 (816)556-7000 Registration, Lobby of Surf Ballroom. Libation Time - Cash Bar, Surf Ballroom. B usiness Luncheon, Surf Ballroom Welcome — Group 3 Chair man Glenn Emmons, execu tive vice president, Northwood State Bank. Speaker: Dr. Harvey Rosenblum, Federal Reserve Bank of Chicago. IB A Activities - Neil Milner, IB A exectuive vice presi dent. Remarks - L.C. “ Bud” Pike, IB A president and president, F arm ers S avin gs B ank, Grundy Center. News from the Superinten dent of Banking - Tom Hus ton, president, Colum bus Junction State Bank. Cocktail Hour. Banquet. Introduction of guests. Entertainment — River City Barbershop Chorus. Dance. Illinois News M cH EN RY: James E. Larkin, a long time officer o f M cHenry State Bank, died at his home April 16. Mr. Larkin started his banking career with the M cHenry bank in 1940. A t the time o f his retirement, he held the title o f vice president in charge o f the instalment loan department. South Dakota News SIO U X FALLS: The Comptroller of the Currency has approved the con solidation of First Bank of South Dakota, First Bank Aberdeen, First Bank Clark, First Bank G ettysburg, First Bank Lemmon, and First Bank Miller into a single statewide bank ing unit - First Bank o f South Dakota. A ccording to Nels E. Turnquist, chairman, the consolidation of First Bank South Dakota (National Association) was effective May 1. SPEARFISH : The State Banking Commission recently approved a proposal for the form ation o f a new bank to be known as Mountain Plains Bank. The Commission also approved the election of James H. Kelly as president and managing of ficer o f the new bank. Directors of the bank include James H. Kelly, Richard Cummings, Iona Marie Langer, B oyd E. Larson, W ayne C. McPherson, W endell Rawlings and Fred Romkema. Promote yourself to the head of the route list Please enter my personal subscription to NORTHWESTERN BANKER for: □ 2 years, $33 □ 1 year $18 Amount Enclosed_____________ (This includes monthly magazine and Weekly Newsletter) Mail subscription to: IP IS STER^ir^- You may wisn to taKe advantage of our Special Club Rate (5 or more) so you can add other officers and directors of your bank. These Club Rates are: Name Title_ Firm □ Business_________________________ _ or □ Home ____________________________ City___________________State_______ Zip 306 Fifteenth Street https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Des Moines, Iowa 50309 One Year Two Years $14 each $26 each Just enclose a typed list of names and addresses and tell us whether you want the one or two year package. Send check for total, or we will be glad to bill your bank. 9 CALL ON THE “PERFORMANCE TEAM” where com m on transactions are handled uncom m only well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 « Member, F.D.I.C. SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 Minnesota News The Independent Bankers o f Min nesota will conduct a Bank Law W orkshop M ay 19 in conjunction with Commercial Law Forum of New York City. The program for bank counsel and other officers af fords an opportunity to learn more about legal specifications pertaining to commercial paper, bank deposits and collection transactions, the IBM office states. The program be gins at 9:00 a.m. and continues to 5:00 p.m. at the Marquette H otel in Minneapolis. EVELETH -H OYT LAK ES: John R. Oltmanns, president o f Norwest Bank Virginia, has also been elected president o f Norwest Bank Eveleth, N.A. GRAN D RAPID S: Robert P. Hatten has been elected president of Norwest Bank Grand Rapids, N .A., m oving from Eveleth where he was president o f the Norwest affiliate there. M ARSH ALL: Three banks, First Bank Ivanhoe, First Bank Minneota and its Marshall Office, have con solidated into the First Bank South west, after approval was granted from the Minnesota commissioner of banks. The main office will be at 1410 East College Drive in Marshall and the locations in Ivanhoe and Min neota will becom e full-service com munity banking centers. Donald J. Venne, form erly president o f First Bank Minneota, has been elected chairman and chief executive officer o f the consolidated bank. He will continue to be officed in Minneota. Arden L. Peterson, who was vice president and manager o f the Mar shall office, has been elected presi dent and will be located at the main office in Marshall. W alter Strangman will continue as president of the Ivanhoe com m unity banking center. M IN N EAPOLIS: Twin City Fed eral and First Bank System , Inc., announced an agreement on April 26 to share off-prem ise ATM s through out Minnesota. Customers o f the two organizations will have access to 70 ATM s statewide for deposits and withdrawals by mid-summer. FBS has 39 off-prem ise ATM s in the m etropolitan Twin Cities and five others in Duluth, Mankato, Roches ter and St. Cloud. TCF has 16 ATM s off-prem ise in the m etro area plus two others in Mankato and St. Cloud. ROCHESTER: The instalment loan and residential real estate depart ments at Norwest Bank Rochester, N .A., have been com bined as con sumer loan department under the supervision o f Senior Vice President Herbert (Bud) Swift. New appoint ments in the department are Sue Fahrendholz as consumer com pli ance officer, Kevin Arnold to assis tant vice president, and Mark Knut son to commercial real estate lend ing officer. What does yoi” employees’ appear ance tell your customers about your bank? “W e want to please you” or “W e don’t really care?” Call us for the look of “Service” and “Success.” Me/U/Loekb-^ CAREER APPAREL 523 N. Main S t„ Carroll, la., 51401 712-792-2748 | Montana News The Montana Bankers A ssocia tion Commercial Lending Confer ence will be held in Helena at the Colonial Inn on M ay 19-20. Regis tration will begin at 3:00 p.m. on the 19th followed by a cocktail recep tion. Friday, M ay 20, will begin with a continental breakfast at 8:30 a.m. and welcom ing remarks from Erie Gross, M B A president and presi dent, Little Horn State Bank, Har din, at 9:00. A rt M atteucci, a Great Falls at torney who has been on both sides of many bankruptcy cases, will speak on some o f the pitfalls o f Chapter 11. Paul Anton, an econom ist at First Bank Minneapolis, and chosen by the National A ssociation o f Bus iness Econom ists as one o f the four outstanding young business econo m ists in the United States in 1981, will give an update on his perspec tive o f the econom y. An as yet un named legislator and representative o f the State Department o f Com merce will tell how they expect to implement 1-95 and the related bills ju st passed at the recent legislative session. Merrill Lynch is flying one o f its government guaranteed loan traders out from New York to dis cuss that field and some o f the new problem s arising. SPRENGER, ROWLAND AND Getting MESSINA it done for you. ^ A tti ^ Bill Sprenger Frampton Rowland John Messina 234-2625 234-2485 234-2486 Commerce Bank o f Kansas City https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC Telephone (816) 234-2000 * BANKERS AVAILABLE POSITION WANTED Iowa State Unlveralty Senior graduating In May w ith B.S. in Agricultural Business, w ith an emphasis In Agricultural Finance. Seeking position leading to an AG LOAN OF FICER. Have farm background and work experience in many areas. W illing to relocate, available June 1, 1983. Contact D.L. Frieden, P.O. Box 91, Gilbert, IA 50105. (PW> BANK SALES AND PURCHASES EDDIE A. W O L F CEO of high performance bank seeks new challenge w ith Upper Midwest com munity bank in or near a city of 10,000 population............................................................. Salary Neg. ( £ Commercial Lender, age 36, over 10 years of experience w ith multi-bank holding company - proven track record -solid references.......................................................... $38,000 • Marketing Bank Services Since 1974 m\ MATT SCOTT Serving Banks in Iowa and Minnesota Eddie Wolf Bank Sales 7202 Maple Drive, Des Moines, la. 50322 Phone: 515/278-2271 SERVICE C O M PA N Y P.O. Box 171 • Albert Lea, MN 56007 507/373-8216 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) COMMERCIAL LOAN OFFICER for a $75 m illion west cen tral Minnesota bank. Send resume to file TBS, c/o North western Banker. (PA) PRESIDENT—$24 m illion bank in Fort Madison, Iowa. Must have lending background and a bility to produce a high performance bank. Contact: Larry Wenzl, P.O. Box 1622, Des Moines, Iowa 50306. Phone: 515/244-5111. (PA) AG LENDER for central Iowa bank. Several years lending experience required. Operations and/or computer exper ience a plus. Send resume and salary history in strict con fidence. Salary commensurate w ith experience. Write file TBT, c/o Northwestern Banker. (PA) INSURANCE MANAGER—$12MM northwest Iowa bank. Experience and license for all lines of insurance needed. Send resume to J.M. Currie, Box 69, Schailer, IA 51053.(PA) Ag Loan Officer— Northwestern Illinois $50 m illion com m unity bank needs an Ag Loan O fficer w ith minimum of 3-5 years experience. Excellent opportunity in a good rural community. Call Andy Rogers, First National Bank of Galena, IL. Phone: (815) 777-0344. (PA) STUDENT LOAN COLLECTOR— Full-time position in a small office. Hours flexible, CRT and collection ex perience helpful. Please send resume to: P.O. Box 7388, Grand Station, Des Moines, IA 50309. (PA) INSURANCE MANAGER WANTED: 500,000 agency in Mountain Lake, MN. Salary $20,000 to $30,000 plus com mission. Experience needed. Call or send resume to: James G. Sneer, Farmers State Bank, Mountain Lake, MN (PA) 56159. Phone: 507/427-2422.______________ Commercial Lender, 40, over 10 years experience in $80 m illion bank. Works heavily in inventory and accounts re ceivable financing.......................................................... Salary $35,000 BANK PLACEMENT SPECIALISTS (Our 34th year) Call experienced professionals to locate the right candidate for your vacancy ... or the right “ move-up” for yourself. CORPORATE RECRUITERS MIDWEST BANKING DIVISION 202 S. 71st Street 402/393-5515 Omaha, Nebraska 68132 GENERAL SERVICES Attorney experience in trusts and estates plus high perfor mance investment record.............................................. Salary $45,000 Ag Lender w ith over 20 years of experience and excellent record. Prefers central or southern Io w a ... .Salary $28,000 Auditor w ith multi-bank holding company. Over 15 years experience — CPA d e g re e ........................................... Salary $36,000 Installment Lender w ith multi-bank holding company. Seven years experience and college degree. Prefer north ern or central Iowa..........................................................Salary $23,500 V.PJCashler w ith heavy operations experience. Prefer eastern Iowa or Illinois location................................... Salary $25,000 Ag Lender w ith Iowa State Degree and one year’s ex perience w ith major bank................................ Salary $17,000 Ag Lender w ith Iowa State Degree and seven years ex perience...........................................................................Salary $30,000 If you are concerned about the current I.B.A dues struc ture, write file TBU, c/o Northwestern Banker. (GS) If you need qualified officer material, call or w rite Malcolm Freeland, Freeland Financial Services, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays modest fee. FOR SALE WANT TO BUY NCR 775 SINGLE POCKET PROOF MACHINE. Excellent condition. Has been under continual maintenance with NCR. Contact Iowa Falls State Bank, Iowa Falls, IA 50126. Phone (515)648-5171. (FS) MODULAR BANK BUILDING. Complete w ith drive-up equipment and furnishings. Needed by SeptemberOctober, 1983. Contact Joseph R. Lyman. Phone: 307/672-0000. (WTB) POSITIONS AVAILABLE CEO for sm aller community bank in eastern Iowa. Must be ag-oriented and know lending and operations...................... .....................................................................Salary $30,000 + . Auditor for major northern Iowa bank. Prefer CPA w ith two or more years of bank-related experience . .Salary $25,000. Ag Lender for northwest Iowa com m unity bank. Prefer graduate of Iowa State or comparable university and three or more years e x p e rie n c e ........................ Salary to $26,000. Auditor for northwest Iowa bank. Must have bank-related experience...................................................Salary to $25,000 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 w ith 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) Operations position in west central Illinois bank. Some lending experience h e lp fu l............ ..............Salary $25,000. POSITIONS AVAILABLE All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma Safekeeping, Treding, Cashiering, metro bank to $30,000 SVP, Commercial Lending, small town CEO heading com m unity bank for major multi-bank holding company seeks position in Minnesota/Wfsconsin area. Excellent references. .............................. Salary Neg. Marketing Executive w ith commercial lending experience w ith major midwest bank...............................................Salary $40,000 POSITION AVAILABLE Commercial Loan Officer, $300mm bank Senior Ag Lender, age 40, Iowa State Grad., handles $20 m illion portfolio w ith m inimal charge-offs. Could be strong second man.............................................. ................ $40,000 $30,000 + $30,000 + Installment Loans, smal I town to $25,000 #2 Man, surburban bank to $35,000 Operations Officer, smal I town to $30,000 President, $50mm bank, small town Open Commercial Lender, medium sized town $40,000 President, $10mm bank, small town $35,000 Auditor, 1 year experience, suburban town $18,000 Positions available change as more openings become avail able or as positions are filled. If you are Interested in making an advancement or change in your present situation, as a candidate registered w ith me, you will be informed as posi tions come available that would appeal to you based on what YOU want in a bank, in salary, in location, and in size of town or city. I do not reveal your name to a client bank un til you are interested in interviewing. Eighteen years of banking service as President of both rural and m etropolitan banks enables me to find the right bank ing environment for you. Phone or send resume to: Don W. Schooler, 901 A. West Jackson, Ozark, Missouri 65721. Phone (417) 485-6020. CHOOLER Ir ASSOCIATES "Successful Banking is Quality Personnel" _______ Banking Employment Service______ Ag Lender for northern Illinois bank, located in scenic area near larger city. Must have three or more years bank ex perience ......................................................... Salary $28,000. CEO for central Illinois com m unity bank. Must have heavy lending and adm inistrative experience in bank up to $25 m illio n .................................................................Salary Open. Commercial Lender for major Missouri b a n k ...................... .....................................................................Salary to $38,000. Write or call Malcolm Freeland, Freeland Financial Ser vice, Inc., 1032 Carriers Bldg., Des Moines, IA 50309. Phone 515/282-6462. Employer pays reasonable fee. Bankers Available Bankers Needed SEE INSERT TODAY! (5 1 5 )3 9 4 -3 1 4 5 NEW HAMPTON, IA 5 0 6 5 9 (7 1 2 )7 7 9 -3 7 4 4 MASSENA, IA 5 0 8 5 3 I NATIONWIDE aqn careers, inc. THE ORIGINAL AGRICULTURAL RECRUITER POSITIONS AVAILABLE PRESIDENT— rural $20MM bank in medium size communi ty. Agriloan and operations background desired. $36,000 OPERATIONS—#3 position in $60MM com m unity bank. Accounting degree and 5 yrs. plus experience in sim ilar size bank desired. $35,000 SECOND OFFICER—small rural bank w ithin short dis tance of larger community. Prefer Agriloan experience and insurance licenses. $20,000 COMMERCIAL LOAN—addition to s ta ff of $80MM subur ban bank. Degree and 1-2 yrs. commercial lending ex perience required. $26,000 JUNIOR OPERATIONS—$30MM credit union w ith two branches. Prefer bank experience. $18,000 AGRILOAN— rural bank of $20MM. Requires 2 yrs. or more agri-lending background. $18,000 SENIOR LENDER—large com m unity bank seeks ex perienced commercial lender to manage all lending areas. $45,000 Additional opportunities are available for junior and senior level bankers. Resume' and salary history requested. TOM HAGAN & ASSOCIATES of Kansas City 2024 Sw ift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 No, 3 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
@FedFRASER