Full text of The Northwestern Banker : November 14, 1983 : Northwestern Banker Newsletter, Vol. 12, No. 30

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•

Vol. 12 No. 30

Des Moines, Iowa

Regional Banking Being Pushed
O

•

STRONGER push is being exerted in upper midwest states to
seek authority from 1984 state legis
latures for regional banking; i.e., ac
quisition of existing institutions or
new charters across state lines in
nearby states which are willing to of
fer reciprocity. Such regional bank
ing now is in effect in some New
England states. The impetus for
pursuing this course of action re
sults because interstate banking, al
though officially barred by federal
law, is being legitimitized, in fact,
by some state laws and by federal
regulatory bodies acting indepen
dently of Congress.
Various upper midwest states are
studying the position taken by the
South Dakota legislature when it
opened that state by invitation to fi
nancial institutions from outside its
borders. Citicorp and Bank o f Amer
ica so far have moved into the state.
In Nebraska, Iowa and Minnesota, bills aimed at similar types of
reciprocal banking failed in the last
legislative sessions but will be
brought up again. Nebraska’s Sena
tor John DeCamp has set a hearing
for December 5-6 in Omaha at the
Omaha City-County Building, 1819
Famam St., to discuss the possibili
ty of enacting legislation in Nebras
ka which would allow regional interstate banking. He has invited
government representatives from 10
states—Colorado, Iowa, Kansas,

Minnesota, Missouri, Montana,
North Dakota, South Dakota and
Wisconsin, as well as Nebraska. He
said “ national experts’ ’ on the sub
ject also are being invited, along
with leaders of the American Bank
ers Association, the Independent
Bankers Association of America and
the Association of Multi Bank Hold
ing Companies. The hearing begins
at 1:30 p.m. on Monday, reconvenes
Tuesday at 9 a.m. and will adjourn
at noon. The Nebraska Independent
Bankers Association has notified
Sen. DeCamp of its opposition to the
bill. N IB A officials say effect o f the
MBHC bill enacted earlier this year
needs to be assessed and it would be
unwise to pursue further expansion
until that effect is known.
The subject of regional expansion
was taken out of the realm o f “ fu
ture business” very suddenly when
the Federal Reserve Board on No
vember 9 approved the application
of Omaha National Bank to cross
the Missouri River and purchase
24.9% o f the First National Bank of
Council Bluffs, la. The ONB had an
nounced its application October 3
following earlier discussion, stating
it intended to shore up First Nation
al’s capital. First National lost near
ly $2.9 million last year, reportedly
due to loan losses. ON B’s injection
of $2.5 million will give it 4.9% of
the common stock and the balance
in all of a new class o f preferred

November 14,1983
stock of First National.
Iowa Superintendent of Banking
Thomas Huston was notified No
vember 10 by the Fed o f that ap
proval and was told there was a
method for requesting reconsidera
tion. Mr. Huston had indicated
earlier he would pursue legal action
if the transaction was completed,
since it contravenes Iowa law pro
hibiting purchase of stock in an
Iowa bank by an out-of-state finan
cial institution. That same law has
held up Fed approved for 18 months
of the First Bank System purchase
of 25% of Banks of Iowa, Inc., a Des
Moines based multi-bank holding
company. The Fed has been asked
repeatedly for its decision on that
application, and again last week
merely stated it will make its deci
sion “ soon,” saying the purchase
doesn’t meet its guidelines.
Minnesota Governor Rudy Perpich has already stated he will spon
sor legislation aimed at following
South Dakota’s open state bill.
An Iowa Bankers Association
legislative committee Task Force
has been studying possible legisla
tion on the interstate regional bank
ing situation and is in the midst of
developing its policy on the issue of
whether Iowa’s law that limits MBHC’s to holding 8% of the state’s
bank deposits should be revised.
Those issues will be reviewed with
local bank executives and state
legislators at a series of local
meetings commencing November
28.
□

Loan participation through us can help
improve your bottom line
For that reason, banks in Iowa depend on
Correspondent Banker Dick Flesvig

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First Bank Saint Paul
Member First Banki System
Correspondent Banking Division
332 Minnesota Street
Saint Paul, Minnesota 55101 (612)291-5577

Iowa News
DES MOINES: The Des Moines
Chapter of A IB held its Manage
ment Appreciation Night November
3. David N. Walthall, president of
Hawkeye Capital Bank & Trust was
named as the 1983 recipient of the
Banker of the Year Award. Mr.
Walthall has been in banking 14
years and has been involved with
A IB his entire banking career.
F A IR F A X : Mary C. Neuhaus, 50,
died November 9 after a five-month
illness with cancer. Funeral services
were held last Saturday at St. Pat
rick’s Church in Fairfax. Surviving
is her husband, David C. Neuhaus,
president of Fairfax State Savings
Bank.

PRINCETON: Keith Hopp has
joined Farmers Savings Bank as
vice president and agriculture repre
sentative. He also will serve in this
position at Le Claire State Bank in
Le Claire. Mr. Hopp recently return
ed from Colorado where he was in
volved as the broker and credit
supervisor for a major real estate
project. Prior to that he served as
president of Federal Land Bank of
DeWitt.
VINTON: Michael A. Cruzen has
been elected president of Brenton
Bank & Trust Company here, replac
ing Larry Rolfstad who resigned to
pursue other banking interests. Mr.
Cruzen was graduated from Iowa
State University in 1973 with a de
gree in ag business. He joined Bren
ton Bank & Trust Company that
same year, serving most recently as
vice president.

Nebraska News

ASK
S T A N FA R M E R
to make MNB
work for you.
Toll free
1- 800- 332-5991

Merchants
A
National Bank 151

Member F.D.I.C.

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A BANKS OF IOWA BANK

First National Lincoln Corp. and
Omaha National Corporation expect
to sign a definitive agreement by
November 22 that would result in
merging the two holding companies
into a new company named Firstier,
Inc. Earlier efforts by Omaha Na
tional to accomplish this goal had
been rejected, but the approval by
both boards to enter into an agree
ment came October 28 after ONC
raised its offer from $40 a share to
$42.50 per share and upped the First
National Lincoln stock conversion

stockholders that they approve the
merger, which needs regulatory ap
proval. As announced earlier, John
D. Woods, chairman and CEO of
ONC, would hold those positions
with Firstier. William C. Smith,
FNLC president and CEO would be
president of Firstier. Corporate of
fices would be maintained in both
cities and the two banks would con
tinue to operate as at present, with
combined assets of about $1.8
billion and deposits of about $1.25
billion.
*

The Nebraska Bankers Associa
tion will be holding six legislative
dinners through November and De
cember. The first is scheduled for
November 16 at Kearney Holiday
Inn. Three will be announced later
for November 28-30. December 6,
North Platte Country Club, and De
cember 8, Red Lion Inn, Omaha, are
the final two dates.
L IN C O L N : N ebraska Banking
Director Paul Amen declared Com
monwealth Savings Company insol
vent on November 1 and closed the
$78 million asset institution, the
largest industrial savings and in
vestment institution in the state. It
MARKET RESEARCH
COMMUNITY ATTITUDE SURVEYS
...Since 1937
Central Surveys, Inc.
P.O. Box 100
Shenandoah, Iowa 51601
_______(712) 246-1630

Professional ...
Responsive...
Call Mark Christen for
any correspondent service.
Call toll free (800) 622-7262

Valley National Bank ill
DES MOINES, IOWA 50304

A BANKS OF IOWA BANK

Member FDIC

Supplement to Northwestern Banker Newsletter 11-14-83

ErHutton
One Carriers Building
Des Moines, Iowa 50309
Telephone: (515) 243-1203

MOODY’S: Aa
S&P: AA

We own and offer subject to prior sale and change in price:

$825,000
(Part of an Issue of $11,000,000)

DES MOINES WATER WORKS, IOWA
Water Revenue Bonds
DATED:

June 1,1980

DENOMINATION:

$5,000

Both principal and semiannual interest (June 1 and December 1) payable at the West Des Moines State Bank,
West Des Moines, Iowa.

$825,000

MATURITY
5.50% due December 1, 1985
Approximate price 198.50

TO YIELD 6.30

LEGAL OPINION: AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS
DES MOINES, IOWA
The Des Moines W ater Works provides retail water service to the residents of Des Moines and some unincorporated areas surrounding the
City. The Water Works also provides all of the water, on a wholesale basis, to the Cities of Clive, Johnston, Norwalk, Pleasant Hill, Urbandale,
Windsor Heights, and Cumming, as well as two rural water districts and several benefited water districts. The Cities of Ankeny and West Des
Moines are also served on an interm ittent basis. The estimated population of the service area (270,000) equals about 10% of the State’s
population.
Des Moines is the capital of the State of Iowa and also the County seat of Polk County. Since its incorporation in 1851, it has served as the
commercial, industrial, governmental and financial center for the State. Des Moines is the home of Drake University (enrollment 6,000) Grand
View College (enrollment 1,200) and several other smaller colleges and business schools. Des Moines is an important insurance center with
sixty home offices located in the City. The largest is Bankers Life Company with 2,500 employees. Also im portant is the printing and
publishing industry; the largest employer in this category is Meredith Corporation with 2,920 employed in the printing of Better Homes and
Gardens and other periodicals. Besides insurance and publishing, there are an estimated 400 factories in the area with combined sales in ex
cess of $500,000,000. Major industrial employers in the area include John Deere (farm equipment, 2,700 employees); Firestone Tire (tires,
2,950 employees); and Pioneer Hybrid Seed Co. (seeds, 1,700 employees). Large commercial employers located in Des Moines include North
western Bell Telephone (3,200 employees); Younkers Department Stores (2,000 employees); and Iowa Power & Light Co. (1,500 employees). In
addition, it is estimated that the various levels of government provide employment to 17,500 people in the area. The population of Des Moines,
according to the 1970 Census, was 201,404 and is presently estimated at 200,000. Des Moines is served by five airlines, six railroads and 67
truck lines. Interstate Highways No. 35 and 80 intersect Des Moines. The area included within the City lim its is approximately 65 square
miles. There are twelve banks in Des Moines with total deposits in excess of $1,770,000,000.
These bonds were issued under the provisions of Chapter 384, Code of Iowa, 1979, as amended. The proceeds of this issue were used to con
struct an intake in the Des Moines River ($1,000,000); to construct a raw water pumping station ($2,300,000); to construct a raw water
transmission main ($6,700,000); and to partially fund a debt service reserve fund ($1,000,000). In the opinion of counsel, these bonds are legal
and binding obligations of the Des Moines Water Works, Iowa, payable from the future net revenues of the water system. This issue
represents the only bonded indebtedness of the Water Works. On May 20, 1980, the Board of Trustees authorized, by Resolution, a rate in
crease of approximately 30% which became effective January 1, 1981.

EARNINGS STATEMENT
1981
Gross Operating Revenue
Operating Expenses
Net
Other Income
TOTAL

Average principal and interest
Coverage of average requirement

$11,260,942
8,327,691
2,933,251
613,396
$ 3,546,647

1982
$11,638,800
9,177,481
2,461,319
575,000
$ 3,036,319

COVERAGES
(Based on 1982 net revenues)
$1,329.688
Maximum principal and interest
2.38x
Coverage of maximum requirement

$1,337.500
2.35X

T h e in fo rm a tio n c o n ta in e d herein is not g u a ra n te e d , but is de riv e d from s o u rce s w h ic h w e d e e m r e lia b le a nd is th a t on w h ic h o u r p u rc h a s e o f th e s e bon d s is b a se d .
p a rtic u la r m a tu rity m a y or m a y not s till be a v a ila b le or m a y now be a v a ila b le a t a price or y ie ld d iffe re n t from th e in d ic a te d above.

Bonds o f a

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Federal Reserve Bank of St. Louis

Placed by AGRIcareers, Loras Goedken, left, recently joined Union Bank & Trust, Lancaster, Wise. Talking together here with
Goedken are Union Bank president Jerry Fisher, center, and the bank’s ag assistant vice president, Pat Priar.

*
^

•

ceived many applications and inter
viewed several people, but nobody
appeared to meet the qualifications
majoring in ag business in college. desired.
“ AGRIcareers sent several resu
Just prior to joining Union Bank he
was ag rep in a smaller bank, in mes, and Jean Eden at the Massena
office gave us her opinions on specif
South Dakota.
“ We try to see our farmer custo ic persons who were available. The
mers twice a month, either at the personnel couseling really helped.
“ AGRIcarrers learned what we
farm or here in town, perhaps over
wanted,
then saved us time by
coffee,” comments Fisher. “ We see
our intown business customers screeening out applicants we pro
sometimes every day, and want to bably would have spent tim e con
see our farmer customers more. It’s sidering,” continues Fisher.
how you strengthen business ties.”
He wants a farmer customer to
feel com fortable with bank person “AGRIcareers learned what
nel— “ So that when he buys a new we wanted, then saved us
piece of machinery he’s interested in
what we think, too. It used to be he time...”
—Jerry Fisher
didn’t , care, and neither did his
Wise. Bank Pres.
banker.
“ But tim es on the farm are
tougher, and it’s important that the
“ Jean was able to recommend
farmer and his lender work more
people with the kind of personality
closely together.”
we feel we need here. A lot of people
Before calling on AGRIcareers to
out there know ag lending, but they
help find an ag rep, Fisher tried con
also have to fit well here— into a
ventional sources, including ads in
group of 30 or so people.”
publications read by bankers. He reThe bank president wanted an ag

“Times Have Changed In Ag Lending”
Things just aren’t like they used to
be down on the farm. And they aren’t
the same for banks serving farmers
either, says a southwest W isconsin
bank president.
Jerry Fisher, president of Union
Bank & Trust, Lancaster, recently
employed through AGRIcareers a
young, experienced ag represen
tative. Loras Goedken’s primary mis
sion is to make farms calls.
“ We want someone in the country
visiting customers as much of the
time as possible,” says Fisher. “ PCA
is out there knocking on our custo
mers’ doors, as is the other bank
here in town. We have some good
farm customers, and need to be out
there meeting their needs.”

“ PCA is out there knocking
on our customers’ doors, as
is the other bank in town.”
—Jerry Fisher, Pres.
Union Bank & Trust
Lancaster, Wise.

Located in a county seat town of
4,000 people and a surrounding diver•
sified agriculture, Union Bank &
Trust’s deposits total $34 m illion.
Twenty-nine full-time people are em
ployed, and about 20% of the bank’s
loan business volume is with farm^
ers. Another 20 to 25% is agribusi
ness.

Goedken grew up on an Iowa farm,
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Federal Reserve Bank of St. Louis

ÏÏ CAREERS, INC.
THE ORIGINAL AGRICULTURAL RECRUITER

(5 1 5 )3 94 -3 1 4 5
NEW HAMPTON, IA 50659
(7 1 2 )7 7 9 -3 7 4 4
MASSENA, IA 50853

rep who would get involved personal
ly in the community, as Goedken has
quickly done through sports ac
tivities.
“ Loras is doing a good job for us,
in spite of the fact that he’s only a
couple years out of college,” sums
up Fisher. “ Plus, because of our
needs, he’s been w illing to take on
work projects he wasn’t specifically
hired for. It’s helped.”

AG BANKERS NOW AVAILABLE

WANTED: BANKERS
Never a Fee From an Employee

Personnel Specialists Serving America’s Ag Lenders
Let Us Help You Hire Better, Faster, Easier

If you’re tired of the non-productive phone calls from em
ployment firms, and the uninformative resumes you re
ceive, call JEAN or LINDA, our Ag Banking Specialists.
After obtaining a complete description of the position, the
q ualifications needed, and your personal preferences, you
w ill receive detailed resumes of only the candidates
meeting your specifications. Our candidates have been
thoroughly screened, referenced, and in most cases, per
sonally interviewed and evaluated by us. This information
is passed on to you, w ith the candidate’s permission and
prior knowledge...Our clients depend on us for QUALITY!
NJ-1 VP/AQ BANKER—Offers six years experience in all
areas of banking; ag, commercial, Real Estate, and con
sumer loans, operations, insurance sales (holds all
licenses), and marketing. Set up call program sim ilar to
PCA’s. Micro computer experience, too; reference says,
“ Really has the Apple figured out... Excellent in lending,
operations and PR” . Finance degree. Married. Age 28. IA
$28,000. Call Jean.
NJ-2 AG/COMMERCIAL LOAN OFFICER—Currently Asst.
Cashier/Loan O fficer in $80 MM unit o f multibank holding
company for past 2 years. Handles good share of ag and
consumer loans. Also had 9 mo. internship in tw o banks
during college. Interesed in advancement opportunity and
diversified duties, including insurance sales (has been
told he could sell anything), and the chance to work w ith
computers. Married. Economics degree. Age 25. IA.
$20,000. Call Jean.
NJ-3 AG LOAN OFFICER—Three years ag banking ex
perience in lending (ag, commercial and consumer), opera
tions, and insurance. Reference says, “ Mature and depen
dable...show him som ething once, and turn him
loose—does the job right...well trained” . Helped w ith con
version to in-house digital computer system. Wants posi
tion in small bank of $15-$25 MM combining ag lending
w ith insurance duties. Ag Banking graduate. Single. Age
24. SD. $25,000. Call Jean.
NJ-4 ASST. CASHIER/LOAN OFFICER—Two years in $25
MM bank as second o ffice r— handles ag and commercial
lending, student loans, all insurance duties, and collection
work. Spent another 8 mo. as trainee learning banking
from the ground up. An aggressive and polished in
dividual. Good ideas and attitude about marketing. In
terested in micro computers. B.S. Bus. Mgmt. Farm raised.
Engaged. IA. Age 25. $20,000. Call Jean.
NJ-5 AG LOAN REP— Professional young man with good
experience in Trust Real Esate management, farm man
agement, grain inventory and marketing, property in
surance. Knows micro computers and software programs.
No lending experience, but anxious to learn. B.S. Ag Bus.
Single. Age 25. IA. $22,000. Call Jean.
NJ-6 AG LOAN OFFICER—Sharp candidiate! Offers three
years PCA experience— handles $4 MM ag portfolio. In
charge o f insurance, enjoys calls. Strong analytical skills,
good record of credit quality. Very versatile, outgoing and
personable. B.S. Ag Bus. ISU. Married. Age 26. IA. $23,000.
Call Jean.
NJ-7 TRAINEE—What he lacks in experience, he makes up
for in PERSISTENCE, enthusiasm, attitude, and personali
ty. Convinced me to interview him, and I was glad I did!
Has sales personality, and strong farm background. B.S.
Finance. Single. Age 25. NE. $12-$15,000. Call Jean.
NJ-8 AG LOAN OFFICER—Over four years as second of
ficer in $14 MM bank of major holding company. Handles
ag loans and a share of installments. Reference say, “ Very
detailed, has experience in all areas of small bank, really
loves farm calls, learns fast, and thinks before he speaks” .
B.S. Bus. Admin. Married. Age 26. SD. $23,000 + . Call
Jean.

NJ-11 SECOND MAN— Now solely in charge o f $10 MM in
ag loans at a $50 MM bank for past nine years. Holds o f
fice in several professional and com m unity organizations.
Reference says, “ His character is above reproach...an
honest man w ith very high level of integrity...does an ex
cellent job” . B.S. Ag Econ./ISU. Married. Age 37. IA.
$35,000 + Call Jean.
NJ-12 C.E.O.’s—We have four of the best, w ith outstand
ing credentials, including; President of high performance
bank which has doubled in size in past five years; a can
didate who’s bank grew from $60 MM to $180 MM during
the eleven years he’s been president (and tripled profits); a
past president of the Bankers Association, etc. All these
candidates are currently employed, an have contacted us
CONFIDENTIALLY, because they're interested in better
opportunities in banking. Salaries range from $40-$70,000.
Call Jean.

Digitized for
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Federal Reserve Bank of St. Louis

If you have been considering a change, now is an excellent time
while the demand for qualified ag lending candidates is especial
ly strong. As a third party, we can offer confidentiality required by
the applicant. Your information is confidential and will not be
devulged to a prospective employer without your approval. Either
Linda or Jaan would be happy to discuss what kind of exciting
career opportunities might be available for a person with your ex
perience.

IOWA
NW-1 AG LOAN OFFICERS—Several ag lenders needed for dif
ferent locations. Excellent opportunity. 35 years ag credit ex
perience. Sales personality. IA $2530,000.
NW-2 JR. AG LENDER—Ag credit responsibilities for a $35 +
million bank. Know farming. 2-5 years ag lending experience. IA
$25,000.
NW-3 #2 MAN IN AG DEPT—Assist ag loan officer... farm
calls...make use of Apple computer. 1-3 years bank (preferred) or
other ag credit exp. Hard worker. IA $1520,000.

NL-13 BANKING— Highly sales motivated bank insurance
manager seeking banking career. Fifteen months ex
perience w ith agency increasing premium volume frpm
$70,000 to over $120,000. Sharp and aggressive. Licensed
in all insurance lines. Excellent references. B.S.
Finance/Acct., Real Estate and Insurance...GPA 3.6/4.0.
Married. Age: 24 Lives MN. Call Linda.

NW-4 JR. AG LENDER—Cash flow projections, fin. statements
and farm calls. Need ag background and an ag degree. Exposed to
computers. IA Middle teens.

NL-14 AG CREDIT—Twelve years w ith farm credit system
w ith responsibilities of $6 m illion in ag loans for a diver
sified ag area. Good working knowledge of cash flows,
cash projections, agrifax, hail and life insurance. B.S.
degree. Married. Age: 39. Lives MN. $35,000. Call Linda.

NW-6 VP—In charge of running bank of $5 million in size. Ag
gressive, personable, and have a good farm background. 3 + years
experience. IA $2325,000.

NL-15 CASHIER/OPERATIONS OFFICER— Com petent
banker currently responsible for bank operations, ag, com
mercial and real estate loans, m aintaining investment
portfolio, budget projections and call reports for a $20
m illion bank. A PEOPLE PERSON. Strong public relation
skills. Two years of college and banking schools. Married.
Age: 46. Lives Wl. $25-30,000. Call Linda.
NL-16 AG/COMMERCIAL LENDER— In charge o f specializ
ed agribusiness department of three people, commercial,
ag, and real estate loans (total loan portfolio of $13Va
million). Skilled in written and verbal communication.
Reference says, “ Does a good job...very thorough...strong
points in ag loans...farm knowledge...relates very well w ith
people.” B.S. Ag Education. Married. Age: 30. Lives KY.
$25,000. Call Linda.
NL-17—Aggressive ag banker seeks executive position for
a $30-$70 m illion bank in town of 6,000 or more. Presently
in charge o f a $17 m illion ag bank. Responsible for all
phases of banking; collection, real estate, farm manage
ment, insurance, bond portfolio, auction services, and
sta ff management. Excellent references. I.S.U. grad with
two degrees. R.E. Brokers license. Married. Age 50.
$40,000+ Call Linda.
NL-18—Seeks responsible position in financial ad
m inistration where he can utilize his background in
marketing, sales and ag. Past 2VÌ years employed as loan
o fficer for farm credit service directly responsible for $14.5
m illion loan volume. One and a half years in ag loans and
general supervision of a $9 m illion branch bank. B.S.
Marketing. Single. Age 35. $28-$30K. Call Linda.

Ag Banking Personnel
Let us help you. Call the ag lending personnel
specialists without cost or obligation. Confi
dential. Employers pay us to hire the best.

NW-5 SENIOR AG OFFICER—Head of ag loan dept ($14 million in
ag) plus some marketing. 510 years ag credit exp. Sales oriented.
IA $35,000.

NW-7 AG LENDING REP—Entry level bank or other ag credit ex
perience, sales oriented and outgoing individual needed for small
ag bank of $20 + million. IA $16,000.
NW-8 SENIOR AG LOAN—All types of loans, trusts, marketing
and banking. Bank experience a must. Innovative thinker. IA.
$35-40,000.
NW-9 SENIOR AG OFF—Step in and take charge of $12 million ag
portfolio. Bank exp. preferred (510 years). Personable, business
development skills. IA $32-35,000.
NW-10 PRESIDENT—Run small ag bank...investments...all types of
loans. Aggressive and a community worker. IA $37,000.

MINNESOTA
NW-11 #2 MAN—Cash flow proj., fin. statements, farm
calls responsibilities fo r a $18 m illion bank. 5 years ag
credit exp. New business dev. skills. MN $18-24,000.
NW-12 AG LOAN OFF— Report to SVP...ag loans of $1311
m illion...responsible for $6 m illion. Ag credit exp. Relate to
the farmer. MN. $25-35,000.
NW-13 AVP—Ag, commercial and some real estate len
ding (4-5 million). 2-5 years strong ag lending and some
comercial exp. Aggressive and sales oriented. MN.
$18-25,000.
NW-14 VP— Report to SVP...ag loan p ortfolio and sta ff of
two ag loan officers. Require management experience and
solid credit exposure. MN. Upper $20’s.

ILLINOIS
NW-15 AG LOAN OFF— Need high performance individual
to assist in ag loan dept. Large ag bank. 3-4 years ag credit
experience. Self motivated. IL. $25-35,000.
NW-16—AG LOAN OFF— Expertise in credit analysis and
new business development in a four man dept, with ag
loans in excess of $30 m illion. 4-5 years, ag experience.
$2325,000.

NEBRASKA/DAKOTAS/MISSOURI
NW-17 #2 MAN— Multi-bank holding company seeking #2
man fo r ag loans, business development, work out pro
blem loans, etc. Min. 3 years banking. Good personality.
MO. $30,000.

NJ-9 AG LOAN OFFICER—Spent four years in $100 MM
bank—worked part time in clerical position to pay college
expenses, and 1 year as manager trainee. For past three
years has been w ith the Farm Credit System as loan of
ficer and marketing insurance. Very interested in com
puters. B.S. Bus. Admin. Married. Age 30. $26,000. Call
Jean.
N J-10 P R E S ID E N T — T h irte e n y e a rs b a n k e x
p e rie n c e -p a s t two years as president of small ag bank.
Excellent appearance and PR skills, good record of perfor
mance. Very involved in professional and community ac
tivities. Real Estate and Insurance Licenses. B.S. Ag
Business/lSU, plus graduate of several banking schools.
FRASER
Married.
Age 37. IA. $45,000. Call Jean.

Confidential

NW-18 AG LENDER—Two people dept...ag loans, servic
ing, cash flow proj. and farm visits. Ag credit experience a
must. M athm etically inclined. ND. $20,000.
Linda: 515/394-5827
Jeannie: 515/263-9598 if
New Hampton, la. 50659 no answer, 712/779-3567
•
Massena, Iowa 50853

aqn careers, inc.
■ » THE ORIGINAL AGRICULTURAL RECRUITER

NW-19 3RD MAN—Ag credit responsibilities for a $40 +
m illion bank. Experience a must. Community oriented.
Nebraska. $18-20,000.
NW-20 AG LOAN OFF—Ag and some small commercial
loans, installm ent and real estate. 3 years experience in ag
credit. Nebraska. $20,000.

CALL ON THE “PERFORMANCE TEAM”
where com m on transactions are handled uncomm 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

was uninsured and the fate of the
estimated $70 million in deposits is
in doubt. It was reported that 80%
of Commonwealth’s assets, basical
ly real estate related, were non-earn
ing when it was closed.
TEK AM AH : David H. Luhman has
been elected president of First Na
tional Bank, effective December 1.
He succeeds V.R. Beavers, who had
been serving as president and chair
man, and is leaving the bank to pur
sue other interests. Mr. Luhman
previously was serving as executive
vice president and director of the
Karlstad State Bank since 1978.

Minnesota News
The National Association of Bank
Women has announced the forma
tion of the Minnesota Valley Group,
a new southern Minnesota chapter.
Newly elected officers include:
Chairman Pamela Baird, National
Bank of Commerce, Mankato; Vice
Chairman Peggy Wecker, and Secre
tary Jan Lowery, both with First
National Bank, Waseca, and Trea
surer Lois Roberts, People’s State
Bank-Wells.
*

The Minnesota Chapter of the
Bank Marketing Association will
hold an advertising seminar entitled
“ Bank Advertising at its Best’ ’ on
November 16 from 8:30 to 5:00.
Featured speakers will include:
Elizabeth A. McMahon of Bozell &
Jacobs, Inc. (chairperson of the BM A

National Advertising Conference);
James E. Turner, president of ETRA
Corporation in Naperville, 111.; John
W. Bootu, Sr., The Direct Mail
Group in New York, and Michael J.
Warner, vice president of the Bank
Marketing Association in Chicago.
For more information or registra
tion contact Michael W. Riley at
Signal Hills State Bank: (612)
457-1776.
M APLE LAKE: Russ Baker, presi
dent of the Security State Bank, has
announced that controlling interest
in the bank has been sold, subject to
regulator approval, to a group head
ed by John A. McHugh, partner
with the law firm of Larkin, H off
man, Daly and Lindgren Ltd. in
Minneapolis. Mr. McHugh formerly
was president of Norwest bank of
Minneapolis, N.A. Russ Baker and
George Palmer will remain as presi
dent and executive vice president
respectively. Donald Weismann,
chairman, will retire from the bank
ing business but remain active in the
insurance department of the bank.
RUSHFORD: Richard D. Gillen has
been elected president and member
of the board of the First National
Bank of Rushford. He succeeds Mor
ris Anderson, who recently resigned.
Mr. Gillen most recently was sales
supervisor and financial manager of
Hiawathaland Harvestore in Chatfield, and also served as vice presi
dent of the Merchants National Bank
of Winona.

Gate City Federal of Fargo and
AVCO Finance of Fargo.

Wyoming News.
RAW LINS: The Wyoming Bank of
Rawlins has announced the appoint
ment of A. Jay Hunsaker as vice
president and cashier. Mr. Hunsaker
previously was cashier at First
State Bank of Afton, and has 17
years of banking experience in oper
ations and lending.

Meet the
problem
solvers.

North Dakota News
M AND AN: Jay C. Feil recently
joined the staff of Norwest Bank
Mandan, N.A. as commercial loan
officer. Mr. Feil previously was asso
ciated with Mandan Security Bank,

An important new profit center
for your bank:

Contact:

Leroy Bell or
Milt Hennick
319-291-5412

a computerized
local billlng/credit service

m w m **

National Bank of Waterloo
315 East 5 th St. • W a te rlo o , IA 5 0 7 0 4

https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

SKI THE SUMMIT
One, two and three bedroom units for
sale or rent. Most with hot tubs.
Phone 1-800/922-2590.
Dwayne Smith
PARADISE PROPERTIES
Box S
Dillon, Colorado 80435

UemBer FMeral Hes6„e Syswnrac

Dick Muir

Larry Russell

Steve Panknin

Jeff Goble

Dave Dickens

Melissa Smith

\ A I e’ll meet your needs
__.¥ . for bankcard services,
oan participations and
quality investment portfolio
recommendations.

UNITED MISSOURI BANK
Member FD,C

0 ^ .

United we grow.Together.

10th and Grand ° P.O. Box 226
Kansas City, Missouri 64141
(816) 556-7000

POSITIONS AVAILABLE

POSITION AVAILABLE

CEO for North Central Iowa com m unity bank......................
Salary Open.

EXECUTIVE VICE PRESIDENT retiring Central Iowa Bank
of $11 Vx m illion. Three to five years experience necessary.
Operation: loans and insurance. Excellent opportunity.
W rite file VBI, c/o Northwestern Banker.
(PA)

Senior Ag Lender for larger multi-bank holding company
bank In Upper Midwest. Requires strong ag lending back
ground...................................................................To $40,000.
Correspondent Bank Head for major midwest bank. Re
quires strong lending and adm inistrative abilityTo $50,000.

AQ REPRESENTATIVE $20 m illion bank in SE Iowa. Some
experience desired. Salary com m ensurate w ith ex
perience. Send letter w ith resume to file VBG, c/o North
western Banker.
(PA)

Commercial Lender for bank located in university city in
Upper M idw est....................................................To $32,000.
Senior Ag Lender for Southern Minnesota Community bank.
Excellent location and opportunity....................... To $35,000.

Bank in N.E. Iowa needs EXPERIENCED AGRICULTURAL
LOAN OFFICER. Salary negotiable. Please send Resume.
Write file VBH, c/o Northwestern Banker.
(PA)

Ag Lender with bank experience for western Illinois banking
o ffic e .......................................................................To $25,000

Immediate opening for COMMERCIAL AND INSTALL
MENT LOAN OFFICER in a 50 million western Montana
bank. Salary negotiable. Experience necessary. One of the
most desirable locations in the western US. Send resume
to file VBK, c/o Northwestern Banker
(PA)

Senior Ag Lender for N.E. Iowabank located near metro
area......................................................................... To $35,000.
Operations/Customer Contact for major Iowa banking group
................................................................................. To $30,000.

NW Illinois 50 m illion com munity bank needs a SENIOR
LOAN OFFICER. Must have 5-8 years banking experience
in all phases of lending, including agriculture. Excellent
opportunity In a good rural community. Call Andy Rogers,
1st National Bank of Galena, IL. Phone (815)777-0344. (PA)

Installment Lender with farm background. Immediate open
ing ............................................................................. Low$20s.
Number Two Person for N.W. Iowa community bank. Ex
cellent conditions.................................................... To $30,000

Opportunity for AGGRESSIVE SALES-ORIENTED INDIVIDUÄL w ith a fast growing bank holding company in
northwest Iowa. Position involves selling of leasing ser
vices. Salary $30,000-$35,000 and full benefits. Send
resume to file VBM, c/o Northwestern Banker
(PA)

Junior Ag Lenders with two or more years banking ex
perience for liinois, South Dakota, and Iowa locations........
..................................................................... Salary to $23,000.
Write or call Malcolm Freeland, Freeland Financial Service,
Inc., 1032 Carriers Bldg., Des Moines, la. 50309. Phone
515/282-6462 Employer pays fee.

AG LENDING OFFICER— Need person w ith 1 to 3 years of
experience in ag lending. Must have ag degree. Some
knowledge of mini-computers beneficial. Send resume &
salary requirements to George Mechem, president, Brenton Bank & Trust Co., Box 388, Clarion, la. 50525.
(PA)

FOR SALE

LOAN OFFICER— Excellent opportunity for aggressive
person w ith minimum o f 2 years banking experience.
Future for management. Send resume to Don Collins, First
State Bank, Murdock, MN 56271. Phone(612)875-2431 .(PA)

CANON SV-10 PROGRAMED INSURANCE CALCULATOR.
$400. Phone Gary Livesay, Iowa Bankers Insurance and
Services, Inc. 1-800/532-1423.
(FS)
IBM SYSTEMS 34 WITH 5211 (300LPM) PRINTER. Under
maintenance. Phone 402/474-3211.
(FS)

COMMERCIAL LOAN OFFICER—$30 m illion community
bank located in the NW corner of Illinois. Minimum 5 years
experience. Salary commensurate w ith background. Good
benefit package. Send resume and salary history to file
VBO, c/o Northwestern Banker.
(PA)
CEO—$40 million financial institution located in south
western Minnesota town of 5,000. Send resume to file
VBN, c/o Northwestern Banker.
(PA)

Highly motivated mature individual w ith ag background
and BS in agricultural economics from Nebraska, seeks
banking position and experience leading to ultim ate goal
of AG LOAN OFFICER. Phone James Beckman at
402/529-6585.
(PW)

WANT TO BUY

B-80 SYSTEM FOR SALE
B-80-311 with 128K Memory
• Cassette Station
• 180 CPS Console Printer
• Self Scan Display
• 4.6 Cartridge disk drive Model 9480-12
Removable
Burroughs 350 LPM Printer Model A-9249-4

WANT TO BUY $20-$50 m illion bank in agricultural area.
Any midwest location. W rite file VBL, c/o Northwestern
Banker.
(WTB)

25 Burroughs Disk Packs B-32
90 Burroughs Cassettes
Burroughs S-1600 12 Pocket with Listers & Totals
• P ro o f/E n c o d in g D ocu m e n t P ro cessin g
System;
• AUTO-FEED, AUTO-READ, Cassette Caputre,
• will fine sort @250 Documents/Minute

POSITIONS AVAILABLE
All positions are in Missouri, Iowa, Kansas, Arkansas or Okla.
Vice President, Funds Management Head, Metro B a n k ...
............................................................................................ open

Currently on Maintenance contract.
Available immediately.

President, $30mm bank, 10,000 population................. open
Senior Vice President, Commercial, 90,000 population. . . .
............................................................................................ open

FARMERS STATE BANK
Dodge, Nebraska 68633
Phone 402/693-2251 (Russ)

Three positions:AII Around bankers, small towns, all types
of lending, salaries range fro m ................... $22,000-$35,000
Vice President, Commercial, 450,000 population.......... open
Commercial Lender, Department Adm inistrator.. .to $60,000
Commercial Lender, Large bank, 300,000 population........
.......................................................................................$40,000

POSITIONS AVAILABLE
OPERATIONS—$40MM com m unity bank seeks junior of
ficer with “ day to day” operations experience to
understudy cashier.
$22K

Ag Lender, Ag oriented bank, 90,000 population........ open
President, $30mm bank, 20,000 population........ $40,000345,000
Two positions: Ag lenders, #2 in bank................ to $30,000
#2 Man, Combination lender/cashler................ to $30,000
Commercial lender, 2 yrs. experience in large bank, resort
area, aggressive lender............................................. $27,000
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 w ill be informed as
positions 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 until you are interested in interviewing.
Eighteen years of banking service as President of both
rural and metropolitan banks enables me to find the right
banking environment for you. Phone or send resume to:
Don W. Schooler, 2508 East Meadow, Springfield, Missouri
65804. Phone (417) 882-2265 (24 hrs.).

CHOOLER In
ASSOCIATES
“ Successful Banking Is Quality Personnel”
“ Banking Employment Agency”

(FS)

AGRI LOAN—$30MM agri bank located w ithin 30 minutes
of major metro area. Handle all ag credits and some com
mercial.
$28K
REAL ESTATE LOAN—manage and develop R.E. dept for
$100MM suburban bank. Requires working knowledge of
secondary market.
$35K
B A N K E R S A V A IL A B L E
CEO w ith 5 year earning average o f 1.67 desires new
challenge in Nebraska or Western Iowa com m unity bank.
Salary Negotiable
CEO w ith top performance record as head of com m unity
bank for multi-bank holding company seeks new Iowa
s itu a tio n .....................................................Salary Negotiable
Top Ag Lender recognized as one of the best in the
midwest seeks number one or number tw o position in ag
gressive cum m unity bank with deposits to $60 m illio n . . . .
Salary Negotiable
We’have many other highly qualified bankers, so if you are
seeking a person to either take over or to lighten your load,
call Malcolm Freeland, Freeland Financial Services, Inc.,
1032 Carriers Bldg., Des Moines, la, 50309. Phone
515/282-6462. Employer pays reasonable fee.

PRESIDENT—$30MM com m unity bank with excellent per
formance record. Strong commercial and agri lending
skills desired.
$Open
OPERATIONS—$75MM suburban bank seeks manager of
internal operations. Prefer degree and 2-3 yrs. large bank
experience.
$22K
TRUST OFFICER—manage growing dept, for affiliate of
small holding company; 2-3 yrs. trust adm inistration ex
perience required.
$25K
Forward resume and salary information. All inquiries con
fidential.

TOM HAGAN 8. ASSOCIATES
2024 Sw ift - Box 12346
North Kansas City, MO 64116
816/474-6874
“Serving the Banking Industry Since 1970”

Voi. 12 No. 30 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