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N ovem ber 1 0 ,1 9 8 0 Des M o in e s , Iow a V o l. 9 N o . 29 Comptroller’s Proposals Questioned asset levels will be measured. pro posals by the R Com ptroller of Complexity The ABA has long been aware of the complexity of the issue of capital adequacy. In June, one month before the Comptroller published his proposals, the ABA commissioned a study of this matter by one of the “Big Eight” accounting firms. This study, due in February of 1981, will consider all facets of the capital adequacy question. The ABA has asked the Comptroller to delay further action on his proposal until the ABA’s study is complete. The comments that accompany the proposed regulation suggest th a t the Com ptroller is less interested in changing the definition of capital as a matter of regulatory fiat than in stimulating a dialog with the banking community. The amendments are described by the Comptroller as “part of a larger project to develop an improved regulatory and supervisory policy for this office... enabling national banks to improve their capital evaluation techniques and main taining the pivotal role of the banking system in meeting the credit demands of a diversified economy. Another element in this comprehensive policy study is an evaluation of the appropriateness of the present 10% lending limitation and the possible need for legislative ecent th e C u rren cy have raised new questions about tw o u n re la te d areas of bank operations. The two proposals de_ ....... serve the axtenComptroller tion of the entire of the Currency banking community. Although the Comptroller’s regulations apply only to national banks, they are still relevant to state-chartered banks. “Wild Card” statutes in many states give state-chartered banks the authority to engage in all activities th a t national banks engage in, and regulations in many states are therefore directly affected by regulations issued by the Comptroller. One proposal is intended to open discussion of how bank capital should be defined and what its role in banking regulation should be. The other proposal raises the subject of Adjustable Rate Mort gages (ARMs) and could lead to a much wider use of this instrument in the future. Definitions The first proposal is to change the definition of “surplus unimpaired funds” that a bank may count as its capital. The definition would be changed to exclude subordinated notes and debentures and 50% of the loan loss reserve funds that are now included in capital. Obviously, the effect of such a change would be to reduce the capital of most national banks. (The Comptroller estimates that for the average bank, capital would be reduced 12.8% by the deletion of subordinated notes and debentures, and 4.5% by the deletion of the loan loss reserve.) A reduction in the amount of capital would be a serious change, for that figure is used to determine the bank’s legal lending limits and other matters, such as whether a bank may establish a branch. This proposal comes at a difficult time for banks. The only sources of capital that would be permitted to a bank if the proposed definitions were to become final would be equity and retained earnings. Bank stocks are and have long been generally undervalued and inflation has lowered earnings. At the same time, inflation has also caused that stated value of assets to rise dramatically. Banks are therefore faced w ith the possibility of having artificially high asset levels and a reduced capital base against which those ASK DALE FROEHLICH to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank i i i Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A 'BANKS OF IOWA’ BANK 2 amendments to the governing statute.” The Comptroller’s interest in stimulating a dialog with the bankers is encouraging, because the dual questions of capital ratios and lending limits have long frustrated bankers themselves. The questions of capital adequacy is very complex, involving a careful balance of the desire to protect the depositors from loss and the need to provide enough leverage to the banks to allow them to operate profitably. The questions that the Comptroller has implicitly raised are good ones: What is bank capital in the first place, and what is the proper level of adequate capital? Solution At present, there is no unanimity among regulators, economists, or even among bankers about the proper definition of bank capital or the proper ratio of capital (however defined) to a bank’s assets. The Comptroller’s latest proposal sug gests that he is interested in a permanent solution to the question of capital and its proper role in banking regulation. The ABA believes that its study will provide valuable help to the regulators in this matter. Mortgages On another front, the Comptroller is suggesting that the use of alternative m ortgage in s tru ments—in particular of the adjust able rate mortgage (ARM) —should Bank on a BANKERS’ BANKER C a ll 1-800-362-1688, toll-free in Io w a Don Carmody Correspondent Banking Department Des Moines, Iowa 50304 Member FDIC, Federal Reserve System We’re people who can help with ag lending. For ag lending, data processing, overlines, and investment services . . . we’re the people who can help. We’re more than western Iowa’s largest bank. We’re people. Ken Roeder Correspondent Bank Officer 712/277-6580 SECURITY NATIONAL BANK IN SIOUX CITY, IOWA. MEMBER F.D.I.C. be formalized and expanded. The proposed guidelines would provide that interest rates could be increased at stated intervals during the term of the mortgage. The increase could not exceed one half of 1% for every six months between adjustments and in no event could it exceed 5% for any one adjustment period. They would also provide for a federal override of state laws where an ARM would be in conflict with a state statute. The purpose of the guidelines is not to prescribe minimum increases but rather to provide some standard for banks to use in setting up a program of innovative mortgage lending. At the same time, the Comptroller is providing a reasonable measure of protection for the consumer. □ Iowa News CLINTON: James L. Menges has been appointed president and chief executive officer of First National Bank, effective January 1. The announcement was made by Hawkeye Bancorporation. Mr. Menges currently is president of American State Bank, a Hawkeye Bancorporation affiliate. DES MOINES: The Iowa-Des Moines National Bank promoted three employes to second vice president, data services. They are Lowell A. Barkley, Greg R. Schamberg and Larry E. Welch. DUBUQUE: Christy F. Armstrong, president of American Trust & Sav ings Bank, was elected a regional r --------- ----------— -------------- -| ■ i □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. i I I i https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Please Contact: J. Mason Henry Charles E. Walters Co., Inc. © 1980 Security National Bank director for a seven-state area, in cluding Iowa, during the recent American Bankers A ssociation annual convention. As a regional director, he will also serve on the ABA board of directors. GRINNELL: In observation of its 50th anniversary year, the Powe shiek County National Bank has dedicated its Grinnell beautification project at the comer of Fourth Avenue and Broad Street. The ceremony was followed by an open house. Minnesota News DULUTH: First National Bank has elected Jack Swanstrom a director. He is executive vice president of Diamond Tool and Horseshoe Co. of Duluth. MINNEAPOLIS: Ken Leaf, former regional administrator of national banks of the ninth national bank region, has joined Miller-Sweeney Co. as a senior bank consultant. Miller-Sweeney provides advice and counsel to banks on unique or non recurring banking matters as well as the brokerage of bank stocks. MINNEAPOLIS: Fifth Northwest ern National Bank of Minneapolis Estate Appraisals Purchase of Collections Sale of Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest | i Ben E. Marlenee Coins I 913 Locust Des Moines, Iowa 50309 515-243-8064 i I P.O. Box 1313, Omaha, Nebraska68101 | I Phone: (402)553-6400 I I___________________________________________I ir*' y~ V Carleton D. Beh Co. H * Investment Bankers/Financial Consultants Des Moines i AN INTRODUCTION TO IOWA STUDENT LOAN REVENUE BONDS V\ r-r y 4 ~ ¥ y The Iowa Student Loan Liquidity Corporation has selected the Carleton D. Beh Co. to be a senior manager of the group w hich w ill underwrite and market the proposed student loan revenue bond issue. The Issuer. The Iowa Student Loan Liquidity Corporation, an Iowa nonprofit corporation, was incorporated in July 1979, at the request of G ov ernor Robert Ray to finance the purchase, sale and general marketing of guaranteed student loans. As provided in the Higher Education Act of 1965, as amended, the Governor designated the Iowa Stu dent Loan Liquidity Corporation as the sole agency for the purpose of providing funds and acquiring from lenders, student loan notes representing (a) loans to Iowa students attending schools anywhere, or (b) loans to students from other states attending Iowa schools. The Corporation has an eleven member Board of Directors appointed by the Governor. The Board consists of the Iowa Superintendent of Banking, tw o members each representing Iowa banking institu tions and the general public; one each representing Iowa savings and loan institutions, Iowa credit unions, the Iowa Board of Regents, Iowa private colleges and universities, Iowa area com m unity col leges and the Iowa College Aid Commission. The C orporation is em powered to issue taxexempt revenue bonds under the provisions of Sec tion 103(e) of the Internal Revenue Code. Bond proceeds w ill be used to purchase guaranteed stu dent loans. It is anticipated that the difference be tween the interest rate on the bonds issued and the return on the student loans purchased w ill be suffi cient to pay the costs of operating the Corporation and servicing the loans. The Student Loans. Student loans can be originated by commercial banks, savings and loan associations, credit unions, and state agencies. These loans are authorized by the Higher Education Act of 1965, as amended. To be eligible the student must be attending an approved institution and car rying at least one-half of the full-tim e course load. Beginning January 1, 1981, a "dependent" stu dent may borrow up to $2,500 per year for up to five years, and an "independent" student may borrow up to $3,000 per year for up to five years. There are also additional programs for graduate students and there w ill be a "loan to parents" program. The in terest rate for existing borrowers is 7%; for new borrowers after January 1,1981, the rate w ill be 9%. W hile the student is in school and during certain specified periods thereafter, the interest is paid by Federal subsidies and the student is exempt from principal repayment. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis In addition to the basic interest on the loan, the lenders w ill receive a "special allowance payment" on a quarterly basis. The special allowance is com puted on the basis of the average bond equivalent annual rate of 91 dayTreasury Bills auctioned during the preceding quarter, less 31/2%, rounded upward to the nearest Vs of 1%. For the quarter ending September 30, 1980, the allowance payment was computed at an annual rate of 6¥s%. These loans can be directly insured by the federal government through its Federal Insured Student Loan (FISL) program. M ore generally, they are guaranteed by a state agency w hich in turn reinsures w ith the federal government. The terms of the rein surance provide for reimbursement to the agency of 80% to 100% depending on the claims experience for the current fiscal year. W hen the student leaves school and after a short grace period (10 months or less), he or she is required to begin making principal and interest payments. The principal repayment period is usually not less than five years nor more than ten years from the end of the grace period. The Guaranty Agency. In Iowa, the guaranty agency is the Iowa College Aid Commission, which maintains as one of its divisions the Iowa Guaran teed Student Loan program staff. Pursuant to the Higher Education Act, the Iowa College Aid Com mission and the Secretary of Education have entered into an agreement providing for federal reimburse ment to the Commission for the amount expended by the Commission in discharge of its guarantee obligations. This agency pledges 100% reimburse ment on each loan it guarantees and administers under the federal insurance programs. Because it is still w ithin its first five years of operation (the agree ment was signed in August, 1978), the Iowa agency is receiving 100% claims reimbursement from the federal program. At the end of this five year period, the federal reimbursement w ill change to a sliding scale based on actual claims experience. The actual claim rate to date is extremely m inor (less than Vi of 1%), and the projected rate for the future is low enough (less than 5%), that the Iowa agency w ill continue to have 100% claims reimbursement by the federal program. The Iowa agency is also required to maintain a "guarantee fu n d " equal to at least 2% o f the loans guaranteed. This is funded by deducting a 1 % guaranty fee from the face value of the loan at the time of its disbursement to the student. The Iowa guarantee fund presently has a balance of about $2,700,000 and there are about $100,000,000 guaranteed loans outstanding. Carleton D. Beh Co. Des Moines Building • Des Moines, Iowa 50309 • 515-288-2152 • (Iowa Wats) 1-800-532-1468 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis r W Financial Futures Division FCC Interest Rate Futures Seminar i ■ ~ - * ■»' t Supplement to Northwestern Banker Newsletter 11-10-80 THE FRONTIER THE HEW FRONTIER THE NEW FRONTIER THE NEW FRONTIER THE NEW FRONTIER THE NEW FRONTIER THE NEW FRONTIER FRONTIER m O N TIE R FRONTIER Savings & Loans and Industry Banks of all sizes are rapidly recognizing the importance of financial instrument futures as a means of providing stability in their interest margins. As interest rates become more volatile, an understanding of futures contracts, including their use, the regulatory constraints, the possible pitfalls, and the accounting principles involved, is becoming an essential part of every money manager’s knowledge. To meet these needs, the Financial Futures Division of FCC has developed a Financial Instruments Futures Program that will provide participants with an understanding of: • • • • How futures contracts can be used by Financial Managers to reduce the potentially Damaging effect of volatile interest rates on earnings; The possible pitfalls and dangers to be avoided; How commodity exchanges and transactions work; and Regulatory and accounting considerations; Interest-Rate Futures Seminar Who Will Benefit A valuable resource for management and staff officers involved in accounting, finance, report preparation, financial analysis, investment management and operations. The senior management of banks engaged in forward and future contracts, or contemplating their use, will also benefit greatly from the material to be presented. In addition, the information will be of significant benefit to public accountants with bank clients. November 24,1980 Hyatt House Des Moines, Iowa Be sure to pass on a copy of this brochure to your public accountant. Financial Futures Division FCC General Information Schedule: The seminar will start at 9:30 a.m. and adjourn at approximately 12:30. Luncheon to follow. Fee: $25 The registration fee includes hand-out materials and lunch. To Register: Complete the attached form and return it with a check made payable to Farmers Commodities Corp., P.O. Box 4887, Des Moines, Iowa 50306. Please duplicate the registration form to register more than one individual from your bank or firm. For further information contact: Jim Eick or Alan Andrews 223-3788 Toll free 800/422-3088 Cancellation: Full fee will be refunded upon notice https://fraser.stlouisfed.org received up Bank to two prior to the program. Federal Reserve of days St. Louis Fa r m er s fOM ROPUlESfORPORATIOH Fa r m er s fOM flODUlESfORPORATIOH T □f Z O X Seminar Program Registration (coffee) Welcome Jim Eick, Manager Financial Futures Division Farmer Commodities Corp. Des Moines, Iowa 50306 Hal Richard, V.P. & Manager Farmers Commodities Corporation Des Moines, Iowa 50306 B.J. (Jerry) O’Dowd, President AGRI Industries Des Moines, Iowa 50306 Banks’ Experience in the Use of Interest-Rate Futures Wayne Caviness, Vice President Financial Futures Division Drexel Burnham Lambert New York, N.Y. 10004 A former senior bank officer, experienced in the use of interest-rate futures, will describe his experiences with the use of interest-rate futures contracts, the benefits obtained and the pitfalls to avoid. Internal Control, Regulatory Compliance and Accounting for Interest-Rate Futures. Exchange Regulation, Operation and Trade Execution Don Kemp, C.P.A. Audit Partner Peat Marwick Mitchell & Company Des Moines, Iowa Phylis Fischell, Vice-President Manager, Floor Operations at Chicago Board of Trade Drexell Burnham Lambert Chicago, III. The prescribed accounting for futures contracts is in a state of flux and can have a very significant impact on a bank’s reported earnings. It is essential that the accounting and regulatory principles be understood before entering into futures contracts. What are commodity exchanges and how do they operate? What safeguards are provided to insure against any losses from defaults of brokers, the Exchange, or other parties to the transaction? How are trades executed on the Exchange and what procedures are necessary for a bank to buy or sell a futures contract? In addition, it is essential to understand the primary internal control features that need to be addressed by the bank, for filing with the regulators and for internal bank operations. Answers to these questions and the background of futures exchanges and markets, with emphasis on the rapid growth and use of interest-rate futures, will be presented. o< © •< <o »_ aa 3«i Question and Answer Session □ □□ This session will enable participants to obtain additional information from the speakers by addressing specific questions from the audience. Lunch Guest Speaker Basic Concepts and Strategies Wayne Caviness, Vice President Financial Futures Division Drexel Burnham Lambert New York, N.Y. 10004 This session will be devoted to an explanation of exactly what interest-rate futures contracts are, how they relate to a bank’s investment and loan portfolios and liabilities, and how they can be used by banks to protect the bank against interest-rate fluctuations. Coffee Bob Zellner Vice President Senior Economist Drexel Burnham Lambert Chicago Mercantile Exchange Chicago, Illinois □ □□ CD & https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PAI 1 HKI T U C “ D C D C A D M A M PC T E A IUI” ■ M ill where common transactions are handled uncommonly we//. 1 FIRSTNATIC)NALLINCO LN 13th & M Street • Lincoln, Nebraska 6£1501 • Member, F.CI.I.C. prom oted John Burlowski to assistant vice president and Julie Skeffington to commercial loan officer. Jackson, Chicago, IL 60604. Phone: 312/435-7213. MINNEAPOLIS: First Bank Min neapolis named F. William Johnson and Karl Schroeter assistant vice presidents, and hired Jeffrey Figgatt as a commercial banking officer. WATERTOWN: Mrs. Eula Hinderaker, homemaker and civic leader, and Merlin F. Jeitz, president of Cook’s Inc., were elected to the First National Bank’s board of directors. WESTBROOK: The Westbrook State Bank recently celebrated its 35th anniversary with an open house. North Dakota News Nebraska News COLERIDGE: The Coleridge Na tional Bank has announced the addition of Dwight H. Hansen as loan officer. He earned his BA degree from Wayne State College and his masters degree from the University of South Dakota in public administration. DESHLER: The Nebraska Security Bank has announced plans to remodel and expand its existing building. The remodeling will feature an expanded lobby and a completely refurbished interior. LINCOLN: Two sem inars to acquaint agricultural lenders in Nebraska with the applications of the commodity futures markets will be held on December 1-2 at the Holiday Inn in Kearney and on December 3-4 at the Ramada Inn in Lincoln. For additional information about registering for the Kearney and Lincoln seminars, please contact any of the sponsoring organizations or CBT Commodities Institute, Chicago Board of Trade, LaSalle at Call our Bond Department For u p-to -th e-m in u te, accurate in form ation ¿ÉH South Dakota News T f * I |c C I\ J i I R lS Wf e e # Robert Scott, Correspondent Banker The 19th Annual North Dakota Bankers Association will hold its Agricultural Credit Conference at the Ram ada Inn in M inot, November 18 and 19. Registration fees are $70 for registrant and $30 for spouse. Registration will be from 11:00 a.m. to 1:30 p.m. and from 5:00 p.m. to 6:30 p.m. Tuesday, November 18 in the Ramada Inn lobby. The conference will begin at 1:30 p.m. in the Norse Room. Adjournment will be at 11:45 a.m. Wednesday, November 19. from the principle office of the bank anywhere in the state...” With heavy voter turnout, 26% voted in favor and 74% were against the proposal. The Colorado Bankers Associa tion reports that voters in that state overwhelming defeated a ballot proposal regarding branch banking. The proposition read, “Shall any bank, as of July 1, 1981, be permitted to establish one or more branch banking facilities separate WORLAND: Dean M. Bartels, president of the First National Bank has announced the addition of Gerald F. Doerr Jr. to the staff. Mr. Doerr will begin in the capacity of assistant cashier. He previously worked for the Ranchester State Bank. Wyoming News CASPER: Pauline Marinich, Betty Rose and Brad Thomas have been named vice presidents at First Na STRASBURG: The Federal Re tional Bank. The announcement serve Bank of Minneapolis has was made by Henry A. Hitch, presi announced that it has approved an dent, after a recent meeting of the application by a Nebraska corpora board. tion to become a bank holding POWELL: Dan Murray has joined company through the acquisition of First National Bank as a loan officer the Strasburg State Bank. The in the personal service loan application was by S trasb u rg department. He previously worked Bancshares, Inc. as an industrial loan officer for the Security Bank in Billings. Colorado News Tom Steffens John Henderson Tony Paugoulatos Vice President Vice President Asst.VicePresident Asst.Vice President Bond Officer Bond Representative 234-2462 234-2463 234-2647 234-2691 M em ber FDIC Jim McLaughlin 234-2673 C ommerce Bank o f Kansas C ity https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis "Opportunity 7 Rusty Reese 234-2674 10th and Walnut Dave Wittenborn (816) 234-2000 4 PARTIAL LIST OF AVAILABLE POSITIONS BANKERS PARTICIPATING I I LeasePlan.Inc. LENDING— Rural Iowa bank. Handle instalment loans and collections. Also do some ag lending. Must be able to work on own. $15,000 R. L. “DICK” SELLON VP— Be responsible for entire loan portfolio of small ag bank. Must know lending regs. Lending is the key to this spot, other bank experience a plus. $16,000. POSITION WANTED OPERATIONS—South Dakota bank needs operations officer. Supervise bookkeepers and tellers. W ill handle all reports. $17,000. 545 - 31st Street Des Moines. Iowa 50312 BANKERS AVAILABLE CEO with solid lending and administrative background........................................................ $48,000 CEO withag lending background......................$35,000 Instalment Loan O fficer................................... $22,000 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, IA 50309. Phone (515) 244-8163. Employer pays fee.______ (PW) Graduate from American Institute of Business with an Associate of Specialized Business Degree in Com puter Programming and Accounting Major seeks banking position. Can relocate. Write Bradley Campbell, 202 East Main, Waukon, IA52172.________ (PW) OPERATIONS—Assistant to operations officer in large Iowa bank. Must have operations experience, be aggressive and prospect-oriented. W ill supervise 15. $23,000. EVP—#2 position in Minnesota bank. Lending is com mercial with some ag. Must have experience in all areas. Equity potential for right person. $28,000. TRUST OFFICER— Iowa bank is establishing new de partment. Must be experienced in trust area and be able to set up a department. $26,000. AG LENDER— Real opportunity for person with 2 + years experience. W ill do all ag lending for east Iowa bank. Bank wants person that can make decisions and operate on own initiative. $22,000. ALL FEES COMPANY PAID Bank Division FOR LEASE Aggressive junior loan officer for $22 million bank in central Nebraska town of 30,000. Salary open depend ing on experience. Some compliance experience helpful. Call Bill Marshall or Jon Luebs at (308) 384-5350._________________________________ (PA) Manager of insurance agency in southeastern South Dakota. Send resume and salary requirements to file LBM, c /o Northwestern Banker.______________ (PA) Loan Officer—Central Illinois bank seeking individual for lending responsibilities, primarily consumer and ag lending. Would be part of management team. Operations experience helpful, but not necessary. Send resume and salary requirements to file KBZ, c /o Northwestern Banker._______________________ (PA) Commercial Loan Person, with minimum three years experience, for major Iowa bank. $23,000-$25,000 Operations Officer, with 3-5 years experience, for $30 million Iowa bank. Second Person for community bank in Iowa. Must have all-around banking experience. $25,000 + Marketing Officer with bank background to head de partment for $60 million bank. $23,000-$25,000 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, IA 50309. Phone (515) 244-8163. Employer pays fee.______ (PA) Mobile bank unit 12’x60’ . Complete banking equip ment, two teller stations, two round door safes, pri vate office off lobby. Available now. Drommer Leasing, 401 Queens Court, Sioux City, Iowa 51104. Phone (712) 239-2315._______________________ (FL) Free standing portable drive-up window unit. Com plete, heat, air conditioned, 8’x12’ . Available now. Drommer Leasing, 401 Queens Court, Sioux City, Iowa51104, Phone (712) 239-2315._____________ (FL) ■■if(V ROBERT HALF of iowa, inc 317 6th Ave Des Moines, IA 50309 (515) 244-4414 U ALL FEES COMPANY PAID AG BANKING CAREERS AG LENDING OFFICER. . .Iowa ..............$20-26,000 AG LOAN & OPERATIONS OFFICER. . .Iowa. . . ........................... $20-$28,000 PROFESSIONAL FARM MANAGER. . .Illinois. . . FOR SALE 12’x40’ mobile home converted for use as temporary banking facility. Night drop and drive-up window in stalled; good teller counter; funace with central air; available immediately. ALSO, 6’x9’ remote drive-up building with heat and air conditioning. Call (319) 291 -5429 or (319) 291 -5468.__________________ (FS) 3M3401 wide document cartridge camera with contin uous computer printout feed and 3M 600EC microfilm reader/printer. W ill sell camera separate. Both units under two years old. Available immediately. Bank has gone to com. Contact Bill Hoefler at (815) 626-4321, Extension 61. (FS) FOR SALE Burroughs TT-101 on-line, off-line, electronic teller machines. $1950 Burroughs TR-102 electronic teller machines. Upgrad able to on-line. $995 Burroughs TR-101 electronic teller machines. $795 .................................................. $ 20 - 22,000 CEO. . .Iowa .............................................$30-35,000 AG LENDING REP. . .Io w a ........................... $20,000 Since 1968, banks and other ag related employers have been paying us to find the personnel they need. For more information, give Linda (our banking special ist) a call today. aari careers, in c m J AGRICULTURAL PERSONNEL RECRUITERS (515)394-3145_____________ New Hampton, IA 50659 POSITIONS AVAILABLE INSTALLMENT LOAN—Opportunity to head growing dept, in $40MM Rocky Mountain bank. Must have in direct as well as direct lending experience. .. $23,000 ADMINISTRATIVE OFFICER—Second position in $40MM bank with chance to advance to number one spot. Need strong background in operations and desireto be involved in community activities. . $32,000 M ARKETING/OPERTIONS— Main responsibility will be supervision of deposit services. Must have supervisory experience and some banking back ground................................................................ $25,000 SENIOR LOAN OFFICER—$100MM bank with grow ing advancement possibilities. Should possess strong commercial loan experience and working knowledge of agri credits...................................$35,000 JUNIOR OFFICER—Career opportunity with growing Iowa suburban bank. Prefer degree and some expo sure to consumer lending.................................. $15,000 COMMERCIAL LOAN— Rocky Mountain area bank seeks addition to their staff. Position requires 2-3 years of commercial lending experience. . . . $25,000 AG LENDING—Prefer large bank experience and degreeinagri business. Sometravel involved. . $25,000 Service 1. 2. 3. 4. 5. F ilin a of C la im s . Review of Insurance C overages. n U l U l l I h l f c U b Y b ltlilb R isk M a n a g e m e n t. □F C red it Insurance. 301 N. A nkeny B lvd ., S uite 220 Ankeny, la 50021 515-964-1358 Brokerage B usin ess. lDLUfl,inC. COMMERCIAL LOAN— Major midwestern bank seeks strong commercial lender with expertise in mining credits.................................................................$28,000 WK- All inquires held in confidence. Salary history and resume requested. y TOM HAGAN & ASSOCIATES of Kansas City 2024 Swift / P.O. Box 12346 North Kansas City, M issouri 64116 _____________ Phone (816) 474-6874_____________ Vol. 9 No. 29 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions 25 cents per copy, $8.00 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 * w
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