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• Vol. 14 No. 30 November 11,1985 Des Moines, Iowa A t Kansas City Meeting— Assn. Execs. Discuss Farm Problems TATE banker association execu sure it will be properly capitalized tives and elected officers from and audited in the future, and a eight midwestem farm states met in checking of FCS powers. 2. Programs to assist farm asset Kansas City November 6 to discuss the possibility for legislation to ease values and farm income to the ex the difficulty farm lenders are exper tent that interest rates affect them. iencing with farm borrowers. They Included in this discussion were: met at the invitation of Stan Matz• The Harl Plan—from Dr. Neil ke, Jr., executive vice president of Harl, Iowa State University, to set the Nebraska Bankers Association. up an Ag Credit Corporation to hold Other states taking part in the a distressed farm mortgage loans. discussion included Oklahoma, Kan Similar to one proposed by IBAA . • Boschwitz Plan—from Sen. sas, Missouri, Iowa, Minnesota, Wisconsin and Indiana. Some of the Rudy Boschwitz (R., Minn), to write other state association executives down farm loan interest rates. • Indiana Bankers Association who couldn’t attend sent memos of their own. Alan Tubbs, who served proposal for tax-free bonds to re the past year as chairman of the structure loans. • Nebraska Bankers proposal for A BA Ag Division and is president of First Central State Bank in guaranteed land values. Would uti DeWitt, la., was invited to moder lize a federal agency similar to post ate and address the meeting. W W II Federal Housing Agency to Another invited guest was H.L. Ger establish land values for each farm, hart, Jr., chairman of the Indepen- then guarantee up to 80% to 90% for dent Bankers Association of Ameri loan purposes. Create a secondary ca ag committee and president of market like other agency bonds and First National Bank in Newman let banks sell into that market, Grove, Nebr. Also taking part were handling loans for a fee as done with ABA staff members Brian Meyer of home mortgages. the state association section and 3. Concern for the availability of Dennis O’Toole of the government funds in the future. relations division. Approximately 4. Concern over contents of a new 30 people took part in the meeting. FCS bill yet to be introduced titled Among the specific topics dis- “Farm Credit System Self-Help and Federal Assistance Act of 1985.” It cussed were these: calls for a $6 billion bailout of the 1. Reorganization and restructure of the Farm Credit System to make FCS and perhaps $2 billion for more S a ^ 0 0 # • • in future years. Realistic Programs Mr. Tubbs said participants then discussed what is actually “do-able” at this time, based on this preamble: “Income and cash flow form the basic source of the financial problem in production agriculture and we urge Congress to maintain current income support levels and pass a re sponsible farm bill as soon as pos sible.” Mr. Tubbs said participants felt the following five points were important: 1. Restructuring of the Farm Credit Administration into an inde pendent, adversarial regulator. 2. That we insure that future powers of the FCS be checked so it doesn’t erupt after regaining finan cial health into an uncontrollable non-bank bank. 3. In the interest of the legislative time frame yet available in this Con gress, the group felt the interest rate write-down, accompained with a capital certificate program, was more politically possible (Boschwitz bill) than an Ag Credit Corporation holding tank approach (Harl propo sal). The Boschwitz plan would offer three parts: A. A three-year 5% in terest rate buy-down. E.G., for a farm borrower with a 13% rate, fed eral assistance would reduce that to 11%, state assistance (in states adopting the measure) would reduce Call on the “Experienced Professionals” Ready to meet your correspondent needs. ^ First National Lincoln A FirsTier Bank Member. F.D.I.C. 13th & M Streets, Lincoln, Nebraska 68501 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 Norwest Bank Des Moines, N.A. NORWEST BANKS Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC Ye am work: one of the reasons we’re first in Iowa. Larry Welch Lowell Barkley it to 9%, and the bank 1% write down would reduce it to 8%. B . The lender’s alternative would be to write principal down 15% and take the loss over a 10-year period. C. Leaseback opportunity to farm own ers, including first right of refusal for repurchase of farm. If a lender writes down the prin cipal 15% or more, he wouldn’t be asked to stand the 1% interest ratedown as well. In addition to the FCS and Boschwitz proposals, the bank ers assembled in Kansas City pro posed an alternative that would have the federal government issue unfunded capital guaranty certifi cates available to all ag lenders. This would shore up bondholder confi dence in the FCS and depositor con- ASK TERRY M ARTIN to make MNB work for you. fidence in the banks. I t does not guarantee the loans to the FC S or the bank. FCS and/or banks would have to take their own losses on the loans. For banks, it would have the government capital guaranty during the three-year period, in addition to its regular capital. This capital gua ranty then would have to back off 10% per year over a 10-year period following the initial three-year period when such non-performing loans had the full guarantee. If a bank with such guaranty went under, FD IC would collect the capi tal guaranty from the federal gov ernment. 4. Somehow, provide a mechanism for banks to access a long-term sec ondary market for farm real estate mortgage loans, or create one. An alternative would be to have the FCS be the purveyor of long-term loans and commercial banks purve yors of short-term or operating loans. 5. Oppose any special bailout that is at the expense of commercial bank borrowers, i.e., FCS borrowers get ting a subsidized rate or any other kind of relief that is not available to bank borrowers. Longer-Term Approaches Mr. Tubbs said the group felt all the above points can be addressed in the current Congress. The group meeting in Kansas City said they would commit themselves to ad dressing a longer-term program for possible solutions in the future and Member F.D.I.C. A BANKS OF IOWA' BANK * * * ALGONA: First Interstate Bank of Algona has elected Terry Vaudt vice president and cashier and Joyce Petersen as loan compliance officer. Mr. Vaudt previously served as vice president and manager of the bank’s H. PETER DEROSIER Vice President Count On Our Correspondent Bankers MARK CHRISTEN Vice President Valley National Bank ■» DES MOINES, IOWA 50304 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Iow a N ew s The IB A Marketing Committee is once again sponsoring the annual Best of Iowa Bank Marketing com petition. Marketing programs com pleted by a bank before December 31 and that have not previously entered in this competition, may enter in any of the three marketing campaign categories or eight adver tising award categories. Winners will be announced at the IB A Marketing Conference scheduled for March 23-25, 1986. Entries must be submitted no later than December 31, 1985 to the Iowa Bankers Asso ciation. •Personal •Prom pt •Professional Toll free 1- 800- 332-5991 Merchants National Bank 151 this long-term approach would at tempt to interact with other farm in terest organizations and groups. Mr. Tubbs said the conclusion in Kansas City was that the other earlier mentioned proposals would require a longer legislative time frame; i.e., the Land Trust concept backed by Dr. Harl and IBA A , the Indiana tax-free bond proposal, and the Nebraska proposal to guarantee land values. In addition to other proposals dis cussed, all agreed that lenders should encourage expanded use and availability of Farmers Home Ad ministration guaranteed loans. None of the discussions or propo sals at the Kansas City meeting rep resent any state association policy as yet. Mr. Tubbs will present a summary of the meeting to the ABA Ag Committee and Mr. Gerhart will report to his IBA A Ag Committee the same results. □ Member FDIC A BANKS OF IOWA BANK Call toll free (800) 622-7262 Supplement to Northwestern Banker Newsletter 11-11-85 tAOTŒRSBB B»ANKERS® ^ SM Some special candidates from Robert Half's Banking Division Partial list o í available Banking candidates. VICE PRESIDENT OF OPERATIONS: Analytical, efficient operations professional with 4 + years handling organiza tional duties in 20m + bank. Intelligent, progressive and ready to tackle whatever needs to be done. DB1000 $25K SENIOR AG LENDER: Directly involved in all facets of lending in a rural community bank of 60m + . Very thorough individual with examining experience in both ag and commercial loans. 15 years of banking looking for key opportunity in strong organization. DB1001 $33K SENIOR VICE PRESIDENT: Commercial loan officer with 10 + years in $100m bank seeks new opportunity. Community active in charge of $9-10m portfolio managing 5 lenders. Well trained through several national schools. DB1002 $50K AG LOAN OFFICER: Heads-up lender 8 + years bank experience in ag oriented holding company. In-depth knowledge of lending through hands-on achievement and well developed analytical skills. DB1003 $26K VICE PRESIDENT OF AG: Community leader with good ag sense and lending expertise. Several ag schools, loan analysis skills, cash flows and field calls. Has been in all types of ag areas: row crop, irrigation, feeder cattle even dairy. DB1004 $38K OPERATIONS: Efficient, well prepared individual currently in an $80m + institution. Internal audit, computer and lending experience. Completed computer conversion and supervised 10 people. DB1005 $29K EXECUTIVE VICE PRESIDENT: Professional with hands-on approach and multitude of lending experience in the $40m and under size facility. Holding company training in ag, commercial and consumer lending with ag emphasis. Supervisory and analysis skills. DB1006 $45K CHIEF EXECUTIVE OFFICER: Exceptional #1 person with history of 1.1 + ROA in ag oriented institutions of $70m + . Oversaw ag portfolio of $25m + and kept it in shape. $10m in commercial loans with 2 0 + years in banking over 10 as a CEO. DB1007 $50K https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (CONTINUED) PARTIAL LISTING OF AVAILABLE BANKING CANDIDATES COMMERCIAL LENDER: Workout and documentation specialist with hard hitting approach to large line credit and computer analysis. Has had loan portfolio training through both state and large bank schools. DB1008 $20K CONTROLLER/BANKING: Degreed manager with large bank background and 15 years experience seeks new challenge. Strong general accounting and financial reporting experience. A conscientious individual who accepts responsibility and takes pride in a job well done. DB1009 Earns $30K PC SPECIALIST: Over 5 years experience on-line networking in banking applications and ATM’s a specialty. Relocation not a problem. DB1010 Mid-Upper $20’s PRESIDENT: A ‘can do’ leader. Successful executive with 9 years in #1 spot of an ag bank seeks continued leadership role. Maintained high ROA and strong capital base in $20m + banks. DB1011 $45K CHIEF EXECUTIVE OFFICER: Small bank specialist with QVz years of keeping rural banks profitable. Likes small town environment and enjoys community activities. Fully licensed in insurance and most fam iliar with small grain/row crop ag areas. DB1012 $38K AG LENDER: Degreed individual with 3 + years lending, farm management and management in rural banks. Quick learner who is at home creating new business or cleaning up old problems. DB1013 $27K REAL ESTATE LENDER: High energy, 9 years # 3 man in $50m + institution. Successful commercial and real estate lender with good background in operations. Looking for career move that will offer challenge and opportunity. DB1014 $35K COMMERCIAL LENDER: Large bank training and two years experience handling credits in major metro market. Handson knowledge of cash flows, ratio analysis and statement spreading for the last 2 years. DB1015 $18K EXECUTIVE VICE PRESIDENT: 12+ years ag lending and management in med-sized community banks. Currently a Vice President in a $40m + institution making field calls, handling farm managements, clean-up and business development. Seeks challenge and opportunity to prove capabilities. DB1016 $35K FOR FURTHER INFORMATION ON THESE CANDIDATES CONTACT KURT ROSENCRANTS ROBERT HALF Banking, Financial, Accounting and EDP personnel specialists. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 317-6TH AVENUE, STE. 650 DES MOINES, IA 50309 (515) 244-4414 , SPRENGER ROWLAND AND Getting MESSINA it done for you. 1^1 B ill S prenger Fram pton R ow land John M essina 234-2625 234-2485 234-2486 ^ Commerce Bank ofKansasotyA MEMBER FDIC Bode office. Ms. Petersen previously served as a loan supervisor. EA RLY: Iowa’s 10th bank failure of 1985 occurred November 1 when the state banking department closed the Early Savings Bank due to insolven cy caused by a string of ag loans gone sour. The FDIC, as receiver, sold the deposits of $12 million and certain assets to Citizens First Na tional Bank of Storm Lake for the high bid of $10,001. FD IC paid in $4.1 million cash to complete the transaction. The new institution will be operated as the Early branch of Citizens First National. Early (Sac County) is 17 miles directly south on Hwy. 71 from Storm Lake (Buena Vista County). Last year-end Early Savings had deposits of $12,919,000, loans of $8,257,000, and capital ac counts of $1,267,000. PO STV ILLE: W.A. Kneeland has announced his retirement from the Postville State Bank, effective November 1. He has served the bank for 51 years, most recently as chair man of the board. During his 70 year banking career, Mr. Kneeland was active on the State Banking Board, in the Iowa Bankers Association and in the Savings Bond Program. WATERLOO: The National Bank of Waterloo has made an acquisition agreement with Gilbertville Savings Bank. Gilbertville Savings Bank will become a full-service office of NBW. The agreement has been ap proved by the boards of both banks and is subject to the approval of reg ulatory authorities and the stock holders of Gilbertville Savings Bank. No change in bank personnel is anticipated. WILTON: Jerry Johnson has been elected president of Wilton Savings Bank to succeed Rodney Burnett, who moved to Farmers Savings Bank of West Union in a similar capacity. Mr. Johnson most recently was executive vice president of DigitizedTama for FRASER State Bank in Tama. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Tplpnhnnp 9T4.9nnn Telephone IMfA (816) 234-2000 N eb raska N ew s A t their Leadership Conference at Kearney Holiday Inn on October 29, a majority of the more than 100 bankers attending voted to support the new tax plan for banks de veloped by a special task force of the Nebraska legislature. In addition, a majority also voted to maintain N BA ’s current position against in terstate banking legislation. Described as a deposits franchise tax, the new method would replace a more cumbersome and inequitably distributed tax program to which NBA members had objected. Three banks were on the legislative task force and helped Omaha Senator Vard Johnson, task force chairman, explain the new proposal to the Leadership Conference. They were Alice Dittman, president, Comhusker Bank, Lincoln; Bill Smith, presi dent, First National B&T, Lincoln, and Joel Wiens, chairman, First State Bank, Kimball. Banks and other financial institu tions would be taxed under the new plan at the rate of 40$ per $1,000 of deposits, capped at 48.8% of the maximum corporate income tax rate. NBA President Mel Adams told the group, “We feel this tax plan represents a fair and reasonable method of resolving certain legal problems surrounding the question of bank taxation.” After much dis cussion and questions about various trade-offs, the majority agreed the new proposal was worth supporting. w Their recommendation went to the NBA Executive Council. NORFOLK: Dennis R. Morrison has been named president of Norwest Bank Nebraska’s Norfolk facility, replacing Thomas Finnigan who re signed to pursue other business in terests. Mr. Morrison has been with Norwest since 1979, most recently as Region V vice president/banking and development. PEN DER: Michael C. Minert has been named vice president of Pender State Bank. He previously served as vice president and office manager of the Renwick Office of the Hawkeye Bank and Trust, Humboldt, Iowa. M in n eso ta N ew s The Minnesota Bankers Associa tion will co-sponsor a video telecon ference with the American Bankers Association titled “Problem Loans: Detecting, Solving, Preventing.” The program will be held from 9:45 a.m. to 4:30 p.m. on November 19, 1985, at the Sheraton Inn North west, Brooklyn Park. Registration begins at 9:00 a.m. Cost is $115. For further information, contact the M BA office. M INNEAPOLIS: Norwest Corpora tion has promoted David Jarvis, ex ecutive vice president, to vice chair man. Mr. Jarvis, who joins Richard S. Levitt as one of two vice chair man of the corporation, will continue to serve as chief financial officer of the corporation. Mr. Jarvis joined We’re Security for You At Security National Bank, w e’re people you can count on to handle all of your Correspondent Banking needs. So, start corresponding with us. W e’re Security for you! SECURITY NATIONAL BANK IN SIOUX CITY, IOWA. MEMBER F.D.I.C. Ron Kiel Correspondent Banking Officer 712-277-6736 4 Norwest in 1981 and previously was with Pillsbury Company. PIN E CITY: Edward W. Palmer recently was elected executive vice president and cashier of Pine City State Bank. He joined the bank in 1983 and prior to that time spent 13 years with First Bank System in South Dakota, Montana, Minnesota and North Dakota. ST. PAUL: At First Bank St. Paul, Sophie Bell has been promoted to vice president. She joined the bank in 1983, and most recently served as assistant vice president in the Re gional Banking Group. N orth D akota N ew s Independent Community Banks of North Dakota member banks and Compliance Club members are in vited to a comprehensive compli ance seminar entitled “Meeting Today’s Challenges in Bank Compli ance.” The seminar will be held from 9:00 a.m. to 4:00 p.m. on Nov. 22, with registration at 8:30. Fee is $95, which includes all materials and breakfast, lunch and afternoon re freshments. Register through the ICBND office in Bismarck. ................ 1986 C A L E N D A R S ******** Buy Direct From The Factory and Sava!! Send us your sample and quantity - We will Quote — You Be The Judge! — For all of your Advertising Specialties: STANDARD ADVERTISING SERVICE, INC. Box 432 • Council Bluffs, Iowa • 51501 (serving the banking Industry since 1947) WANT ADS— Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER, 1535 Linden Suite 201, Des Moines, Iowa 50309. Phone 515-244-8163. COMMERCIAL LENDER for $85 million midwest bank. Re quires college degree and 3 to 5 years experience ............ ..................................................................... Salary to $35,000 POSITIONS AVAILABLE SENIOR INVESTMENT OFFICER for major midwest bank. Requires experience In bank of $200 million In a s s e ts ___ ............................................................................... Salary open CEO - S.E. Nebraska bank of over $20M. Need 10 years or more experience. $40-50K. AG LENDER • N.W. Iowa. Need 2-3 years experi ence. $25-30K. SENIOR COMMERCIAL LENDER for $100 million bank in town of 15,000 in upper M idw est...................... Salary open CONTROLLER - S.W. Iowa. 3-5 years exp. $28-35K. SENIOR COMMERCIAL LENDER to be In charge of all loans In bank of over $200 million In assets . . . Salary open CONTROLLER • S.E. South Dakota. New dept $200M. To $40K. All fees are paid by our client employers. Richard L Beam, CPC QUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We’re Nationwide CEO for a $50 million bank, rural county seat, Southern Iowa. Banking degree, agricultural loan workout experi ence and management skills necessary. Salary and fringe benefits commensurate with experience. Send resume and salary requirements to file WDX, c/o Northwestern Banker. (PA) SENIOR LOAN OFFICER— Experience in commercial SBA & real estate loans. Excellent career opportunity. Salary commensurate with experience. Contact: Arvld D. Evensvold, President, First National Bank of Hastings, Hastings, MN. (612) 437-3106. (PA) FHA GUARANTEED LOANS Secondary m arket developm ent J & H CONSULTING 1425 Code C rete, NE. 68333 Phone: 402-826-2902 CEO for $10 million midwest bank located In small town near university c i t y ........................ Salary to $38,000 + car CASHIER for southwest Iowa financial Institution............ ........................................................................... Salary $18,000 VICE PRESIDENT for Loans/Operatlons for $15 million northern Iowa bank ...................................Salary to $30,000 COMMERCIAL LENDER for large Independent Twin Cities area bank. Leads to Division H e a d ......... Salary to $39,000 SR CREDIT ADMINISTRATOR for central Minnesota bank .....................................................................Salary to $33,000 SR AG LENDER for progressive South Dakota bank located In major community. Requires 5 or more years In bank of $50 million or m o re ...................... Salary to $40,000 FOR SALE DIEBOLD 910 WALKUP ATM A a 9810 Controller 5 years old. 100,000 Transactions. Call Sharen (515) 752-4591. (FS) Please call Malcolm Freeland or Cy Kirk in care of: Freeland F in a n c ia l S ervice 1010 Equitable Bldg. Des Moines, IA 50309 515/282-8482 BANKING OPPORTUNITIES Employer pays fee. CONTROLLER/NO. 2— In$30mm growth bank. Need acctg. degree. $35K. AG LENDER—mid sized N. IA bank. Good ad vancement potential. $30K. NO. 2— In small ag branch. W. IA. $35K. Contact Barbara J. Rltta at PROFESSIONAL RECRUITERS, INC. P.O. Box 24227 Omaha, NE 68124 1-600-225-2866, In NE (402) 397-2685 CHOOLER In POSITIONS AVAILABLE PRESIDENT $10mm bank, 8,000 population, lim ited ag, large growth potential ................. $50,000. SENIOR CREDIT ADMINISTRATOR North Central Minne sota $30 million bank looking for person with solid credit administration skills. Must have proven record of sound credit Judgment, working knowledge of UCC documenta tion, and skilled In commercial credit and financial state ment analysis. Responsibilities will Include initiating and maintaining on-going credit department for the bank and other banks which are presently In the process of being acquired by the holding company. Send resume to file WDW, c/o Northwestern Banker. (PA) CPA with practical bank experience wanted by $50 million bank located In scenic college community. Farm back ground a plus. Candidate will Install computer system, In vestment center, credit department auditing procedure .. ..................................................................... Salary to $50,000 COMMERCIAL LENDER • Need 2 + years In com mercial lending. Omaha. To $30K. ASSOCIATES "Successful Banking is Quality Personnel" PO SITIO NS AVAILABLE Financial Careers VICE PRESIDENT, HEAD OF LENDING—$50mm bank, excellent town and location, strong organi zation ........................................................... $35,000. WANTED—Good used or rebuilt microfilmer. Please call (712)779-2234. (WTB) FOR SALE 24x80 Temporary Bank Building with canopies for sale. Available Spring 1988 Equipment Optional If interested please call Dennis Prchal at (612) 224-1371 CHIEF EXECUTIVE OFFICER $15mm-i- bank, Ozark a r e a ................................................... $40,000. COMMERCIAL LOAN OFFICER $100mm+ bank, excellent location, colleges, strong bank, middle market c re d its ............................... $30,000-$35,000. PRESIDENT $50mm + bank, requires proven tech nical social, and leadership skills, independent bank, 20,000 population............................. $50,000. HEAD OF LENDING $200 + bank, requires mature administrator, 5 years in a bank over $100mm, 15 yrs. In banking, d e g re e ............................... $75,000. EXECUTIVE VICE PRESIDENT $90mm+ bank, strong commercial, some ag, population 30,000, high ROA bank ........................................... $50,000. ALL AROUND BANKER $25mm bank, lending, op erations, administration, 10,000 population, high earnings b a n k ............................... $30,000-335,000. CREDIT ADMINISTRATOR/LENDER $80+ bank, college town, Independent b a n k ............... $40,000. Many years In bank management enables me to find the right banking environment for you, com pletely confidentially. Send your resume or phone: DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 (FS) POSITIONS AVAILABLE AGRI-LOAN - senior lender for $40MM Ag Bank. Work out loan experience desired. $38K COMMERCIAL LOAN • middle management position with $100MM + suburban bank. Need two-four yrs. experience. $28K SECOND OFFICER - Ag-orlented bank with large cattle loan portfolio. Previous administration experience a plus. $40K COMMERCIAL/INSTAL. LOAN - community bank with large retail base. Time will be split evenly between com mercial and instal. credits. $25K CREDIT OFFICER • develop and oversee credit dept, for growing suburban bank. Good advancement possibilities. $20K ALL INQUIRIES CONFIDENTIAL. PLEASE FORWARD RESUME. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 14 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 mall subscriptions, changes of address (Form 3579), manuscripts, mall items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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