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Vol. 15 No. 30 Des Moines, Iowa Community Bankers Still ‘Hurrahing’ • _ ™ ^ ^ a A ^ 0 P OR MOST of the past decade, the preachers of financial doom for community banks have been pre dicting the demise of thousands of smaller banks. Many people in print and broadcast media accepted this line of thinking as being gospel-true forecasting. The fallacy of this thinking, and the pitfall of trying to forecast such events, are attested to eloquently by the following true story. A long-time friend and highly-re spected banker, Alice M. Dittman, wrote us October 20 just before we left for the American Bankers Asso ciation convention in San Francisco late last month. Alice, who is presi dent of Comhusker Bank in Lincoln, Nebr., enclosed a copy of a feature column written by Donald R. White for the San Francisco Chronicle just as ABA registrants were arriving in his city for their 1981 ABA convention. After warning San Franciscans they would be unable to dine at their favorite spots while the bankers were in town, Mr. White went on to say: “What San Francisco’s hotels, restaurateurs, cabbies, bartenders and merchants may be witnessing is the last gasp of the commercial banking business in the United States as we have known it since the early 1930s. “There are 14,500 commercial banks in the country, which is about 14,000 more than a sophisticated economy needs. “Is there really a need for the Com husker Bank of Lincoln, Neb., in the grand scheme of things? Alice M. Dittman, the bank’s president, will claim there is. “Or for the Walnut Valley State Bank of El Dorado, Kan.? Its board chairman, Clifford Stone, here for the convention, is sure to say that his bank hits a special community niche that no big banks can fill. “The fact is that the American banking system is going through rapid changes as a result of deregu lation. “Old-fashioned ‘mom and pop’ banks, protected by state laws that prohibit branch banking, can no longer survive in the face of competi tion from big banks, nationwide brokerage houses, large savings and loan associations, insurance compa nies and money market funds. “By the time the American Bank ers Association convenes again in San Francisco several years from now, the commercial hanking busi ness will have gone through a com plete metamorphosis. “Safe to say there will be far fewer than 14,500 banks repre sented. “Nationwide banking, as prac ticed in every other industralized na tion, has been too long forbidden by law in the United States. November 10,1986 “A fragmented banking system is an anachronism in these days of electronic banking. When you can transfer funds electronically to any corner of the world is there a need for parochial bankers? “The ‘mom and pop’ comer store bankers will say there is, but they have yet to feel the heat of real com petition. “For them, the San Francisco con vention may be their last hurrah.” He missed by about 14,000! There are still well over 14,000 chartered banks in the United States. Alice Dittman added the coup de grace in the concluding paragraph of her letter to us when she stated: “Needless to say, the 1981 con vention was not my ‘last hurrah.’ Our bank has continued its growth at an average rate of 15% a year, and is now $42,000,000.00 It was $20,000,000.00 in 1981. Cliff Stone of Walnut Valley Bank & Trust of El Dorado, KS., indicates his bank has grown from $42,000,000.00 to $83,000,000.00 in the same period of time. What this indicates to me is that there continues to be a need for small banks and, surprisingly, the mergers have been in the larger in stitutions. ” In the meantime, back at the con vention, a great deal of the usual in form al c o n v ersatio n revolved around the current topic in San Francisco—“Will Bank of America (which Mr. White had casually in ferred would be one of the giants C all on th e “ Experienced P rofessionals” Ready to meet your correspondent needs. ^FirsTierM ank Lincoln 13th & M Streets, Lincoln, Nebraska 68501 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Firslier Bank, N.A., Lincoln, Member FDIC Norwest Bank Des Moines, N.A. C a ll (515) 245-3131 o r to ll-fre e (800) 362-2514 Member FDIC NORW EST BANKS ‘Teamwork: one of the reasons we’re first in Iowa. Dick Retz MNB Correspondent Banker Together We Can Accom plish Great Things Call 319-398-4806 or toll free 1-800-332-5991 The------- Strength Eastern |owa Merchants National Bank Si https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AKRON: Scott Otis has been named president of the First National Bank of Akron and elected to serve as president of the bank’s board. In 1980 he joined the Security National Bank of Sioux City, another held by Security National Corp., and served as a personal banking representa tive and correspondent banker. Jay Nichols John Cretzmeyer who would lead the way) survive on its own or will it be taken over by First Interstate or someone else?” A four-block walk from the Moscone Convention Center took bankers past the mausoleum of the former multi-billion asset Crocker Bank, now assumed as a part of Wells Fargo Bank. In addition to discuss ing their own well-known farm bank problems back home, midwestem bankers found time to exchange oc casional talk about the “hits” many larger banks on the “top 500” list have taken since that last San Fran cisco convention of 1981, especially the horrendous losses and fatalities resulting from the Penn Square de bacle. Obviously, Mr. White and other well-meaning media people could not Group 7, Best Western Regency Hotel, 4 p.m., Marshalltown. ALB I A: The First Iowa State Bank here was given approval November 5 by State Superintendent William R. Bernau to open an office in Eddyville, located about 20 miles north east of Albia. Permission to operate an Eddyville office also had been sought by organizers of the pro posed new Peoples State Bank of Albia. Mr. Bernau said the Eddy ville office was awarded to First Iowa State Bank because it is cur rently in operation, while the pro posed new bank has no operating history behind it. The Peoples State Bank charter has been proposed to replace the Peoples National Bank & Trust Co. of Albia, which failed ear Iowa News lier this year and had an office in Ed As a follow-up to the Oct. 7 Legis dyville, now closed. lative Issues Teleconferences, the Iowa Bankers Association is hold DES MOINES: A new international ing the annual Fall Roadshow Meet banking departm ent has been ings across the state during the formed at First Interstate Bank of month. Dates and locations are as Des M oines, N.A. J. D aniel follows: Nov. 10—Group 12, Stubbs McGowan II has been appointed Ranch, 4 p.m., Spencer; Nov. 1 2 - vice president of international bank Group 1', Ida Grove Country Club, 2 ing. He joined the bank in 1982 as p.m., Ida Grove; Nov. 13—Group 5, vice president of metropolitan com Lake Shore Country Club, noon, mercial services. Bradford W. Council Bluffs; Nov. 17—Group 11, Sharpe has been elected vice presi Best Western Inn, 4 p.m. Fairfield; dent of the bank with functional re Nov. 18—Group 8, Ironmen Inn, 4 sponsibility as director of market p.m., Fairfield; Nov. 18—Group 4, ing. He was previously employed by Manchester Country Club, 4 p.m., Commerce Bancshares of Kansas Ci Manchester; Nov. 20—Group 6, ty as corporate marketing manager. Hotel Fort Des Moines, 4 p.m., Des Nebraska News Moines; Nov. 24—Group 2, Holiday Inn, 4 p.m., Fort Dodge; Nov. The Nebraska Bankers Associa 25—Group 3, Pheasant Run, 11:45 tion will sponsor its legislative din a.m., Mason City, and Nov. 25— ners and bankruptcy workshop at have foreseen those problems that were not even aware to the bank management and regulators them selves at that time. But an occa sional visit to places where those “other 14,000” banks continue to serve the needs of their local people and friends might shed new light for these broadcasters and writers on why the strength of “mom and pop” banks won’t be dissipated so quickly or easily as predicted by misdirected experts upon whom they rely for in formation. Ben Haller, Jr., Publisher t's easier to talk Iowa banking with people who live it — people like Donald H. Jordahl and the cor respondent staff at Bankers Trust. I Call 1-800-362-1688 or 515/245-2424. Bankers Trust Des Moines, IA Member FDIC Donald H. Jordahl Vice President \e HPB" I RE-2520 FEA TU RES 7n*. — • ^ « s c r rece,p' ' “TJT-r— — • . ,M compact siz , — . 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The schedule for the North Platte location is work shop registration at 8:30 a.m., work shop 9-11 a.m. and luncheon at 11:30 a.m. At all other locations, registra tion is at 3:30 p.m. with the work shop from 4-6 p.m. and dinner at 6:30 p.m. Steve Turner, attorney with the Baird, Holm law office in Omaha, will speak at the workshop on the Family Farm Reorganization Act, recently signed by the presi dent. KEARNEY: Don Kearney was elected as president and trust officer of the Platte Valley State Bank and Trust Co. He assumed his duties Nov. 3. He was most recently in charge of special projects for Hawkeye Bancorporation of Iowa. Minnesota News • • • ^ ^ The Minnesota Bankers Associa tion will conduct a workshop on planning skills for CEOs featuring William F. Staats, the Louisiana Bankers Association professor of banking and professor of finance at Louisiana State University. The workshop will be held Dec. 11 at the Embassy Suites Hotel in Blooming ton. For more information contact the MBA office at (612) 338-7851. MINNEAPOLIS: The First Banks have promoted the following from assistant vice president to vice president status: Michael M. Fordney, special loans-commercial divi sion; Rolland E. Glessing, wholesale/retail division; Marilyn A. Grochala, financial institutions division; Peter Kooman, national east divi sion, and Barton D. Warren, na tional west division. mg 36 years with Harris Trust where he was vice president and ad ministrator of a lending division. CHICAGO: Mark E. Frighetto has been promoted to vice president and compliance officer at Community Bank of Edgewater. Prior to joining the bank, he was assistant vice president a t Michigan National Bank, Chicago. Wisconsin News MENOMONEE FALLS: Alan W. Banach has joined F&M Bank Menomonee Falls as vice president in the commercial department. Prior to joining the bank, he was with the Marine Bank since 1973. CHICAGO: Tory A. Campanella, president of The Northlake Bank, has been appointed chief operating officer of the bank. William R. Duquaine, president of Colonial Bank & • Trust Company, has been named chairman and chief executive officer of The Northlake Bank. CHICAGO: Sam S. Fawley has been 0 named senior vice president and senior lending officer of Northbrook DigitizedBank. for FRASER He joins the bank after servhttps://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Wyoming News CASPER: Richard I. Niedling has been elected as executive vice presi dent in charge of the lending divi sion at First Interstate Bank. Prior to this, he served as executive vice president of First Interstate Bank of Lea County in Hobbs, N.M. Colorado News South Dakota News BERESFORD: Following regula tory approval in October, the sale of seven branches of Norwest Bank South Dakota to First National Bank of Beresford, was completed on November 1 at Norwest Bank South Dakota headquarters in Sioux Falls. The seven offices acquired by First National are in Bristol, Brit ton, Hecla, Lake Preston, Newell, Parker and Springfield. First Na tional is owned by Frank Farrar, Britton, who owns banks in Indiana, Illinois, Kansas, Minnesota, Mon tana, North Dakota, South Dakota and Wyoming. On September 30, the seven branches had $58 million in deposits and 40 employees. FORT COLLINS: Betty L. Burk has been elected vice president and cashier of Colorado National Bank — Fort Collins. She has been with the bank since 1972, most recently serv ing as assistant vice president and controller. Fortify your earnings with quality investm ent programs. HURON: David L. DeVos has been named vice president and manager, farm loan department for Farmers & Merchants Bank. He replaces Lynn V. Schneider, who has been pro moted to president. He joins the bank after 12 years with the Farm Credit System, most recently as regional vice president with the Watertown Regional Farm Credit Banks of Omaha. SIOUX FALLS: Gary G. Olson has Illinois News B been elected president and chief operating officer of Norwest Bank South Dakota. He was vice chair man. As president, he succeeds C.P. “Buck" Moore, who continues in his previous capacities as chairman and CEO. aqncarers,inc. _J AG BANKING PERSONNEL SPECIALISTS Bond portfolio recommendations from United Missouri Bank reflect over 55 years of portfolio management experience. Call us today for your program. lb U N IT E D M IS S O U R I B A N K MemberFDic Qf K an sas C ity , ii.a . Jean 712/779-3567 Masseria, la. 50853 Sandl 515/394-5827 New Hampton, la. 50659 Confidential. Employer paid fees 10th and Grand • P.O. Box 226 Kansas City, Missouri 64141 (816) 556-7200 3 <IN SENIOR COMMERCIAL LENDER. Multi-bank hold ing Co.! Oversee commercial and commercial real estate. Supervise staff. 5 + years commercial and people management. Strong career progression! Ex cellent community............$46,000.............Call Bruce. HEAD OF CORPORATE TRUST. Employee benefit experience and ability to sell services for $350mm bank trust department. Supervisory experience a plus......................To $42,000........................ Call Marj. AG LOAN OFFICER. Provide documentation and cash flow expertise to this $25mm bank. Excellent opportunity for development and growth while sup porting the present lending staff. Strong capital position. Standard health and life benefits along with profit sharing make this one very appealing! .. .......................... $30,000.............................. Cal I Steve. COMMERCIAL AND MORTQAQE LOAN OFFICER. 2 + years experience, good people skills and busi ness development will land this excellent position with a$150mm bank.........To $32,000..........Call Marj. V.P. COMMERCIAL LENDING. An acquisition minded holding company who rewards their people! 3 + years commercial with professional attitude. You will write loans and be on management teams. Metro bank, bonus, benefits. . $40,000. . Call Bruce. 8ENIOR LOAN OFFICER. Move Into #2 spot In $13mm bankl 20 minutes from a 14,000 population county seat. Total ag lending knowledge will put you In a management position. Complete benefit package Including pension plan. $31,000. Call Steve. COMMERCIAL LOAN OFFICER. 6 + years lending in 6 digit loans with business development skills for $300mm bank. Upward m obility!................................. ........................ To $40,000............................Call Marj. COMMERCIAL LOAN OFFICER. Commercial and real estate lending will qualify you for this new posi tion in a $100mm bank. Excellent potential for ad vancement as well as education in this college town. Health, life and dental benefits enhance a pension p lan !.............. $35,000.................. Call Steve. POSITIONS AVAILABLE The Montana Department of Commerce is recruiting for a COMMISSIONER OF FINANCIAL INSTITUTIONS, Grade 18, Position No. 03601. Pay range $27,932.00 to $38,577.00, depending upon knowledges, skills, abilities and experi ence. Brief description of typical duties: (1) Performs ad ministrative and supervisory work in the regulation and evaluation of state chartered or licensed financial institu tions which include banks, trust companies, credit unions, savings and loan associations, consumer loan licensees, and sales finance companies. (2) Analyzes conditions and performance of finance institutions. (3) Participates in the preparation of legislation effecting financial institutions. (4) Plans, directs and evaluates the work of professional, technical, and clerical staff. For complete job and applica tion Information, please write or call the Montana Depart ment of Commerce, Mike Mlkota, Personnel Officer or Wendy Anderson, Personnel Technician, 1424 Ninth Avenue, Helena, Mt 59620. (406) 444-4304. DEADLINE: 12/5/86________________________________________ (PA) Strong midwest bank group seeks qualified applicants to fill positions in recently acquired banks. PRESJCEO, COMM’L and AG LENDERS. Send resume to File No. WHA c/o Northwestern Banker. (PA) 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 CONSUMER LENDER For the lender who wants to get ahead. Outstate bk near metro area seeks exp’d pro who has several yrs of con sumer lending in bk, mgt expertise & some comm’l lending knowledge. $27K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID Please contact Malcolm Freeland concerning these posi tions or for other current openings. OPERATIONS GROUP MANAGER INC. 773 Spruce Street P.O. Box 159 Ocheyedan, Iowa 51354 Phone: [712] 758-3440 Do you wonder If your job will be eliminated? A premier Twin Cities bank has a fantastic growth opty if you have 6 + yrs operations exp in a bank of at least $250mm. Desire degree and proven mgmt. HOT! To $50K. Job #NW9250. SENIOR LENDER Isn’t it time to stop short-changing yourself? A Twin Cities holding co bank needs a senior lender in a super suburban location. Desire 4 + yrs coml lending exp, strong analyti cal skills and willingness to develop new business. To$45K. Job #NW9268. AGRICULTURAL LOAN OFFICER Frustrated? This is a superb optyl Outstate MN bank needs analytical ag lender with 3 + yrs lending exp. Desire degree, and take charge style. Will pay relocation ex penses. HOT! To$30K. Job #NW9269. FOR MORE INFORMATION CONTACT PAUL GENTZKOW "Successful Banking is Quality Personnel" POSITIONS AVAILABLE LOAN REVIEW OFCR Growing cty seat bk In strong rural com seeks banker who has 2-4 yrs of loan analysis & examination exp. Diverse portfolio of 1/4 ag, 1/4 comm’i and 50% R/E. Will move Into pure lending pos. Mld-$20’s. 1010 Equitable Bldg. Dss Molnss, IA 50309 515/282-6462 Employer pays fee. POSITIONS AVAILABLE SENIOR VICE PRESIDENT for a $28mm bank, town of 1,000 ..........................................to $35,000 SR. LENDER Pres w/ln 5 yrsl TC bk In upscale suburb seeks career minded indlv for #2 spot. Must have 5 + yrs of comm’l exp (not nec from Irg bk) & mgt skills. Will supv R/E, consumer & comm’l dept mgrs for $60m institution. $45K. Financial Careers (Division of Freeland Financial Service, Inc.) Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319-382-8648 • Profit Planning POSITIONS AVAILABLE LOAN REVIEW person with 3 to 5 years bank or examining experience for a $60 million bank In a thriving county seat. ......................................................................Salary to $26,000 CAPITAL PERSONNEL SERVICE • Loan Review and Credit Administration NCR 775 PROOF MACHINES, 8 pocket. Under mainte nance contract. Call American State Bank, Oldham, SD. (605)482-8293.___________________________ (FS) COMMERCIAL LENDER for $30 million bank located near state university. Requires 5 or more years experience han dling loans of $250,000 or better. Candidate will be a part of management team.................................................Salary to$35,000 RYAN AUCTION CO., INC. Consultant to Bankers MECHANICAL CHECK FILES—Two Diebold Inc. flies with manual & automatic control selectors, complete with trays and three drawer work stations attached. Southwest Bank & Trust, 8800 West Center Road, Omaha, NE 68124. _______________________________________________ (FS) INSTALLMENT LENDER to head dept, in $35 million bank located in scenic recreational area near university and state capitol. Require college degree and min. of 4 yrs. ex perience. Excellent potential..................................Salary to$35,000. Serving bankers quietly and efficiently. M A N A G E M E N T , FOR SALE NEW OPPORTUNITIES CEO for $100 million bank located In progressive Mid western city. Prefer 5 or more years as CEO or #2 person In comparable bank .............................................Salary Open. COMMERCIAL VICE PRESIDENT, recreational location, 2,000 pop...................................to $45,000 x AGRICULTURAL LENDER AND LOAN REVIEW OFFICER, nice small t o w n .................... to $40,000 EXECUTIVE VICE PRESIDENT, $100+ Bank, 30,000 population ..................... $50,000 to $60,000 VICE PRESIDENT, COMMERCIAL LENDER, $130mm Bank, 35,000 population .......................... ........................................................Range of $32,000 VICE PRESIDENT, COMMERCIAL LENDER, $285mm+ Bank, prime location Range of $40,000 #2 OFFICER, ALL TYPES OF LENDING, WORK OUTS, 3,000 Population ............................. $35,000 SENIOR LOAN OFFICER, VICE PRESIDENT, ex cellent college town, CC membership___ $50,000 m 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID POSITIONS AVAILABLE CASHIER - $25MM Ag Bank. Requires background with inhouse m inicomputers and some knowledge of Agri Loans. $30 K PRESIDENT - Agri Bank w ith problem loans. Should have adm inistrative experience and solid Agri Loan skills. $40K OPERATIONS - manage department of 35 for large urban bank. Experience w ith deposit accounting and account services required. $38K AGRI LOAN - com m unity bank w ith large Ag portfolio. Seven yrs. or more Ag Lending experience needed. $35K PRESIDENT, $5mm Bank, 1 hr. from Metro .......... ....................................................... ........ to $50,000 COMMERCIAL LOAN - large suburban bank w ith $100MM loan portfolio. Degree and minimum 3 yrs. comml lending experience w ith six figure credits. $32K COMMERCIAL AVP, $140mm Bank, excellent col lege town ................................... $25,000 to $35,000 Additional positions available in Midwestern states. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 2024 Sw ift - Box 12346 North Kansas City, MO 64116 816/474-6874 TOM HAGAN & ASSOCIATES “ Serving the Banking Industry Since 1970” Voi. 15 No. 30 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, 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 to Northwestern Banker, 1535 Linden Digitized for St.,FRASER #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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