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Vol. 11 No. 30

Des Moines, Iowa

November 15,1982

Farm Bankers Give 1983 Outlook
URING the Am erican Bankers
Association’s National A g Lend­
ing Conference in Chicago last week,
four ag bankers took part in the “ A g
Credit Outlook Seminar” presented
at that m eeting each year to the
media representatives. M oderator
this year was Dr. W illiam Herr,
head o f the agribusiness econom ics
department at Southern Illinois Uni­
versity, Carbondale.
The four ag bankers who gave
brief comments first, then respond­
ed to questions, were: John E. Mar­
tin, vice president, Omaha National
Bank, Omaha; Douglas L. Flory, ex­
ecutive vice president, Rockingham
National Bank, Harrisonburg, Va.;
Robert W. Ranger, senior vice presi­
dent, Oneida National Bank and
Trust Co., Utica, N .Y., and Dean K.
Johnson, senior vice president,
H utchinson N ational Bank and
Trust Co., Hutchinson, Kans.
Results o f the A B A annual mid­
year 1982 A g Credit Survey were
presented by Dr. Herr and the eightpage summary was distributed to all
attending the A g Conference. Dr.
Herr reviewed the results, noting
that “ This is the third year-to-year
decline in net cash income, and the
second for declining equities in the
farm sector.” He listed the follow ing
as the significant findings o f the
mid-1982 survey:
•Farm credit conditions showed
further substantial deterioration.

D

Indexes o f loan renewals, refinanc­
ings, delinquencies and losses were
all at new highs. Repayment rates
were at their lowest level.
•Further declines in credit condi­
tions were expected by the ag bank­
ers during the current year, which
will end in mid-1983.
•A larger proportion o f bank bor­
rowers were discontinued in the past
year than in the previous year, and a
higher proportion o f those discontin­

ued did not receive financing from
other sources.
•Ample funds were available for
making farm loans. The average
loan-deposit ratio was 62%, or 5
points below the 1979 high o f 67%.
Only 11% o f the bankers reported a
shortage o f loan funds.
•Interest rates declined m odestly
between mid-1981 and mid-1982,
but 2/3 o f the bankers expected fur­
ther declines during the second half
o f 1982.

•Demand for credit was weak—
especially for loans to finance ma­
chinery, equipment and real estate
investment.
•Ag bank profitability about
matches the 1981 level, although it
has declined somewhat in the Corn
Belt.
The com plete survey is being
mailed to all member banks. Brief
highlights from remarks given by
the two midwest panelists follow:
Mr. Martin: In 1982, cattle feed­
ers averaged about $50 for finishing
steer yearlings and $60 for finishing
steer calves; they marketed about
5% more cattle, and overall pro­
fitability was positive. Ranchers
suffered a loss that exceeded $100
per head if all expenses are consid­
ered and are liquidating, with cow
slaughter up about 10%, and 25%
fewer heifers actually entering cow
herds. Profitability in the hog in­
dustry was very positive, with pro­
fits o f $25 per head for farrow-tofinish operators and $18 per head for
feeder pig finishers.
For 1983, net returns for cattle
feeders will be positive, but less than
in 1982. Ranchers will continue to
experience severe financial pro­
blems; there is little doubt calves
will continue to be priced substan­
tially below the cost o f production.
H og enterprises will continue to be
profitable. The rate o f increase in
production expenses has slowed sig­
nificantly in 1982. A lower inflation
rate in 1983 is expected. This is ex-

CALL ON THE “PERFORMANCE TEAM”
where common transactions
are handled uncommonly well.

IIIIH U H
FIRSTNATIONAL LINCOLN

13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C.

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

2

H o w did w e g e t to
b e first in Iow a?
By putting
B il Ü
Iowa first.
IOWA .__
_
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Dorothea Wolfe

An Affiliate o f N orthwest Bancorporation
M em ber

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pected to lead to stabilizing or li­
quidating o f cattle and cow inven­
tories, and expansion sometime dur­
ing the year in the hog industry.
A record 1982 crop and record
1982/83 supplies will keep prices
under pressure; however, some price
strength from the harvest lows is an­
ticipated, as many farmer/feeders
utilize the livestock sector to market
corn. Slaughter cattle prices are ex­
pected to average about $65; feeder
ca ttle shou ld average in the
mid-$60s, and hog prices are ex­
pected to be in the upper $50s.
Mr. Johnson: Corn and soybean
yields have been average to above
average and will be adequately
stored. W heat planting is com pleted
under alm ost ideal conditions. W e
may have a storage problem for

BANCO*'

Call (515) 245-3131 or toll-free (800) 362-2514

1983 wheat crop with a lot o f stor­
age tied up for the three-year re­
serves for the 1982 wheat and milo.
Credit availability is more than
adequate. The serious problem for
the next several months will be with
custom ers who continue to deter­
iorate; their cashflows have not
worked, they’re losing money and
debt will be higher after ’82 than
projected. More farmers are depen­
ding on off-farm income. These pro­
blem credits or custom ers represent
probably 10-15% o f our ag paper in
our notecases today. A m ajor por­
tion o f these people may be forced
out o f farming this winter. If we
decided to go with questionable ones
another year we need to shore up
those loans with what collateral is
available.
The future for the high plains is
bright if we can survive 1983 and
make it through 1984-85.
E d N ote: A further report on the
National A g Credit Conference will
he published in the D ecem ber North­
□
western Banker.

W.H. Rules on Interest,
Dividends Set by IRS

ASK
STAN FARMER
to make MNB
work for you.
Toll free

1-800-332-5991

Merchants
National Bank 151
Member F.D.I.C.


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

A BANKS OF IOWA BANK

The Internal Revenue Service last
week announced these initial rules
governing withholding o f income
tax on interest and dividends by
banks and s&ls:
•Each account o f a custom er is
handled separately; they will not be
lumped together for withholding
purposes. Each account is exempt
for up to $150 interest or dividends
per account.
•A custom er with less than $600
tax liability in the preceding year
($1,000 on a join t return) may file an
exem ption certificate with the in­
stitution.
•A custom er 65 years or older
with less than $1,500 tax liability in
the preceding year ($2,500 on a joint
return) may file an exem ption cer­
tificate.
•W ithholding must be done at the
time the interest or dividend is

credited to the account.
•To reimburse the financial in­
stitutions, they may use the withholding money for 30 days. This applies to banks or s&ls with deposits
o f over $1 billion for one year; two
years for those with under $1 billion
deposits, and three years for deposits under $100 million.

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Iowa News
ALLISO N : Russell Olson has been
named president o f the State Bank
o f Allison. He replaces Lyle Meyer,
who resigned to purchase an interest
in the Farmer’s State Bank at Dows.

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DES M OINES: Hawkeye Bancorporation has received approval from
the Federal Reserve for the acquisi­
tion o f First National Bank in Len­
ox, with assets o f $35 million. Terms
o f the acquisition, which is anticipated to be com pleted in early De­
cember, were not announced. First
National, follow ing com pletion of
the acquisition, will becom e the 33rd
member bank o f Hawkeye Bancorporation.

•

LE M ARS: A1 Maser, president and
chairman of the First National Bank,
has announced the election o f Ran­
dall Johnson as executive vice pres­
ident and Ray Harman as senior
vice president. Mr. Johnson joined
the bank in 1979 and has been serving as a vice president at the bank
along with Mr. Harman.

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Nebraska News
LINCOLN: Dennis Stelzer has been
appointed president and chief ex­
ecutive officer o f the National Bank
o f Commerce Computer Services
Corporation. Mr. Stelzer has been
with NBC since 1971, serving as division head and vice president of
operations since 1978. Larry Nelson
has been named the new division
head of operations for NBC. He has
been with the bank since 1963.
O M AH A: Lawrence Ziska, Jr., has
been named executive vice president
o f Douglas County Bank & Trust
Co., reporting directly to the president, Dale Heimann. Mr. Ziska be­
gan his career with the bank in 1974.

Minnesota News
The Independent Bankers o f Min­
nesota Fall Conference will be held
this week, Novem ber 17-18 at. the
H oliday Inn Downtown, Minneap­
olis.
Registration will be open at 9:30

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

We own and offer subject to prior sale and change in price the following Pledge Orders:

TAXABLE
EQUIVALENT
AT 46%

AMOUNT

MUNICIPALITY

#

$325,000

BURLINGTON, IOWA
Sewer Revenue Pledge Orders
Interest: 3-1 and 9-1

1-01-1983

6.50%

12.04

•

•$100,000

FREDERICKSBURG, IOWA
Sewer Revenue Pledge Orders
Interest: 6-1 and 12-1

9-01-1983

7.00%

12.96

•

$675,000

GLENWOOD, IOWA
General Obligation Construction Warrants
Interest: 6-1 and 12-1

12-01-1983

6.50%

12.04

•

$300,000

HARLAN, IOWA
Electric Revenue Pledge Orders
Interest: 6-1 and 12-1

6-01-1984

7.00%

12.96

•

$ 75,000

IOWA GREAT LAKES SANITARY DISTRICT
General Obligation Construction Warrants
Interest: 6-1 and 12-1

12-01-1983

6.50%

12.04

•

MATURITY

YIELD

IN THE OPINION OF COUNSEL INTEREST ON THESE PLEDGE ORDERS IS EXEMPT FROM ALL PRESENT
FEDERAL INCOME TAXATION AND ALL PROPERTY TAXATION IN THE STATE OF IOWA.

Pledge Orders are issued in accordance with the provisions of Chapter 384, Code of Iowa, 1981, as amended, to
provide funds necessary for the construction of improvements to municipal utilities. In the opinion of counsel,
Pledge Orders are subject to the first lien of outstanding debt, if any, and together with such outstanding debt
are payable solely and only from the future net revenues of the respective municipal utilites.

The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based.
Bonds of particular m aturity may or may not still be available or may now be available at a price or yield different from that indicated above.


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

Supplement to Northwestern Banker Newsletter 11-15-82

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

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a.m. on the 17th with the official
opening seminar at 10:45 a.m. The
conference will wrap up on the 18th
follow ing the noon luncheon.
The keynote address will be given
by Ken Guenther, executive director
of the IB A A .
ALEXAN D RIA: The stockholders of
Alexandria Bank & Trust Company
recently voted to change the name of
the bank to First American Bank &
Trust o f Alexandria, effective November 1, 1982.

Illinois News
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The Illinois Bankers Association
will be conducting its bank directors
seminars on two dates in December.
December 8 the seminar will be
held at the Hamilton in Itasca, and
December 9 the seminar will be at
the H oliday Inn, Decatur.

South Dakota News
•

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a

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The South Dakota Bankers Association will be sponsoring its Bank
Management Conference November
18-19 at the Howard Johnson in
Sioux Falls. (The November N o r t h ­
w e s t e r n B a n k e r incorrectly has the
location listed as the Downtown
Holiday Inn.)
The main focus o f the conference
will be on the A B A ’s Community
Bank Financial Perform ance Guide,
as well as A B A ’s M icro-Com puter
M odeling to Im prove Community
Bank Financial Performance. The
program schedule follows:

P.M.

Thursday, November 18

1:00 Personnel & Em ployee Man­
agem ent R elations & P ro­
d u c tiv ity —Joh n S ch m itz,
Hum an R esource M anagement, Madison, W ise.
5:00 Adjournm ent.
6:00 Reception.
7:00 Banquet.

A.M.

Friday, November 19

9:00 A sset & L iability Manage­
ment—Alan R. Tubbs, presiIOWA NATIONAL BANK CURRENCY

3

Single System Banking
With

Availability
Availability of funds. . . availability of people. . .
responsive to your needs.

National Bank of Waterloo
Waterloo, Iowa 50704 Member FDIC

I

Phone Milt H ennick
at 1-800-772-2411.

dent, F irst C entral S tate
Bank, DeW itt, Iowa.
11:00 Practical Approach to the
M i c r o - C o m p u t e r —J o h n
Thomson, president, Bank of
Centerville, and Jack Lynass,
a ssista n t v ice p residen t,
BankW est, N .A., Pierre.

Reiman, chairman. He succeeds
Robert T. Noel, who left the organ­
ization to join another banking
system. Mr. Jacques m ost recently
served as president and chief ex­
ecutive officer o f First W yom ing
Bank, N.A.,-Laramie. He entered
the banking industry in 1967.

P.M.

JACKSON: Glenn Deming, former­
ly executive vice president and chief
executive officer o f First W yom ing
Bank, N .A., has been elected presi­
dent o f the bank. Mr. Deming, who
came to Jackson last August from
Casper, succeeds Mel Hutchings
who resigned September 1 to pursue
personal business interests.

12:00 Luncheon.
1:00 Reconvene.
The Im pact o f Personal Com­
puters on Community Bank­
ing—Dave Waldren, Financial
Systems, Inc., Kearney, Nebr.,
will be demonstrating micro­
computer programs for bank
usage.
3:30 Adjournm ent.

North Dakota News
FARGO: J.D. Mund has been named
vice president and manager o f the
commercial lending department at
Dakota Bank & Trust Co. and Har­
old W. Simpson was named vice
president and manager o f the agri­
culture department, according to
Raymond A. Lamb, president.

Montana News
G REAT FALLS: John M. Seeberger has been appointed vice president/manager, commercial loan de­
partment, o f First Interstate Bank.
He joins the bank from First Bank
W estern Montana, Missoula, where
he was an assistant vice president,
commercial loans.

Wyoming News

AGRICULTURE
LENDING

CHEYENNE: Paul J. Jacques has
been appointed president and chief
executive officer o f First W yom ing
Bank, N .A., announced W . Robert

Located in North/West Nebraska
this bank is seeking an experienced
Agriculture Lender to join its staff.
(Number three position)

Estate Appraisals

The primary responsibilities of this
officer level opening include the full
range of Agriculture Lending. The
ideal candidate will have a strong
credit background.

Purchase o f
Collections
Sale o f Rare Coins
Reliable and respected service
for over 20 years
Used by bankers
throughout the midwest

WANTED
FOR PERSONAL COLLECTION
Also paying top prices for other
“types” of U.S. currency and finan­
cial paper.
DON MARK
Box 1, Adel, IA 50003 • 515/270-8170

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

m

Ben E . Marlenee
Coins
913 Locust
Des Moines, Iowa 50309
515-243-8064

To attract qualified candidates this
bank offers a compensation pack­
age to include salary, profit sharing,
bonus, hospitalization and one other
incentive that will be explained per
your response.
-w I
_

Please call or write:
Tom Adair or
Clark Rudeen

INTERSCOPE, INC.
10407 Devonshire Circle,
Suite 100
Omaha, Nebraska 68114
Phone (402) 397-4645

4

POSITION AVAILABLE
MANAGING OFFICER— Position open immediately for
manager o f a $9 million south central Minnesota bank.
Phone Dale Harberts, 507/368-4261 or LA . Omundson,
(PA)
605/335-1508.
Aggressive, sales oriented person with some agricultural
lending experience to be manager of branch office.
R esponsibilities to include calling on prospective
customers, supervision of branch staff and to be part of
management team of a rural eastern Iowa community
bank. Must be self-starter and interested in community ac­
tivities. Salary determined by experience and education.
Send resume to file RBE, c/o Northwestern Banker. (PA)
Aggressive NW Illinois bank has an immediate opening for
an AGRICULTURAL LENDER. Must have experience in
agricultural lending, farm management, and have an agri­
cultural degree. Will have some exposure to commercial
lending also. Excellent benefits. Salary commensurate to
experience. EOE. Send resume to file RBF, c/o North­
western Banker.
(PA)
AG MAN - LOAN OFFICER—$23 million bank in northwest
Iowa. Would like experience. Write file RBJ, c/o North­
western Banker.
(PA)
DES MOINES BANK seeks operations and control officer.
Applicant will immediately assume supervision of book­
keeping and teller functions responsible to Cashier. Can­
didate should have a minimum of 3 years experience.
Technical and people skills important. Write file RBK, c/o
Northwestern Banker.
(PA)
Major correspondent bank seeks two persons for travel in
upper midwest states; three-four years banking exper­
ience essential; credit background preferred. Also need
one person with bond sales experience to work with cor­
respondent banks. Write file RBL, c/o Northwestern
Banker.
(PA)

What does your employees’ appear­
ance tell your customers about your
bank? “We want to please you” or
“We don’t really care?” Call us for the
look of “Service” and “ Success.”

Æe/Jyioekk-^
CAREER APPAREL

523 N. Main St., Carroll, la., 51401 712-792-2748 |

POSITION WANTED
EXPERIENCED accountant/bookkeeper, with proven track
record in all phases of office bookkeeping and accountan­
cy, seeks position with responsibility for all aspects of a
business office. Fully experienced in completing and filing
on time all federal and state government reports; prepara­
tion and reports of payroll; handling all aspects of billing
and collection of accounts receivable; preparation of P&L
statements; compiling and updating year-end inventory
and depreciation schedule; maintaining stocks and CDs;
converted from NCR 400 to IBM 1130 computer. Planned
and reorganized bookkeeping procedures that eliminated
all over-time needs. Successful record as accountant and
office manager and in supervising business personnel.
Husband has moved to Des Moines area for new position.
If you want an experienced, happy person to bring ac­
curacy, neatness and promptness to your accounting and
bookkeeping functions, contact file RBH, c/o Northwest­
ern Banker.
(PW)

POSITIONS AVAILABLE

Cashier for $60 million midwestern bank. Requires
minimum of 5 years experience in larger community bank.
Lending knowledge h e lp fu l.............................. Salary open
Number Two Person for Nebraska com munity bank. Re­
quires knowledge of operations/ag le n d in g ......................
.....................................................................Salary to $28,000
Commercial Lender for major Iowa bank . Salary to $38,000

Strong Ag Lender for $40 m illion bank in eastern Iowa . . . .
......................................................................Salary to $27,000
Executive V.P. with solid lending experience for $40
m illion b a n k .......................................................Salary open.
Correspondent Officer for $2 billion city b a n k ....................
......................................................................Salary to $40,000
W rite or call Malcolm Freeland, Freeland Financial Ser­
vice, Inc., 1032 Carriers Building, Des Moines, Iowa 50309.
Phone 515/282-6462. Employer pays fee.

AG LENDING OFFICERS
If you would like to use your current expertise in
ag lending to develop a career in commodities,
please contact:
John Kingston
R.G. Dickinson & Co.
910 Grand Ave.
Des Moines, IA 50308
Phone: (515) 247-8143
(Offices in Iowa, Nebr., Kansas & Colo.)

President, $4mm bank, under 10,000 population
Open
Commercial Lender, #2 Position, $40mm bank, 45,000
population suburb
Open
Commercial Lender, Vice President, Billion Dollar bank,
over 300,000 population
Open
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 with me, you w ill be informed as posi­
tions come available that would appeal to you based on
what YOU want in a bank, in salary, in location, and in size of
town or city. I do not reveal your name to a client bank 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, 901 A. West Jackson, Ozark, Missouri 65721.
Phone (417) 485-6020.

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AND- I p j jj i P A SSO C IA T E S

FOR SALE

One Three-M Secretary II Photo Copy Machine. Factory re­
conditioned. Two years old. Model 360 AG. Under
m aintenance agreem ent to 8-1-82. $800.000. Call
402/374-2020.
(FS)

Recordak-Reliant 600-K Microfiimer plus
extra camera. Also have several full key
board adding machines. Several which do
not work.
ALBERT CITY SAVINGS BANK
ALBERT CITY, IA 50510
(712)843-2211

AVAILABLE NOW
NCR 775-2100 with MCR unit
(cassette capture) 12 pockets.
Eligible for NCR Maintenance.
We Deliver Results.
Bankers Electronic Equipment, Inc.
Phone 308/384-5995
Grand Island, NE 68801

Office Manager for major western Iowa b a n k ...... .............
...........................................................................Salary $25,000
Operations person for $35 m illion bank in major Iowa city .
......................................................................Salary to $25,000

Commercial Dept. Head, Senior Vice President, $250mm
bank, 300,000 population
to $75,000
President, $60mm bank, 45,000 population suburb
to $55,000 0

"Successful Banking is Quality Personnel"

Three-Bedroom and Two-Bedroom, tw o bath
townhomes available for sale or rent. Most have
covered hot tubs on the deck. Prices range from
$114,000.00 to $119,000.00. Financing available.
Contact:

Ag Lenders needed by four northern Iowa community
banks. Prefer college degree and minimum of 3 years
banking e xp e rie n ce ............ .............................To $28,000

Vice President, #3 man, Chief Lender, $60mm bank, 10,000
population
to $35,000
Agricultural/Commercial Lender, $40mm bank, under A
10.000 population
to $27,000
Agriculture Lender, $30mm bank, under 10,000 population
to $28,000

don - S chooler T

SKI THE SUMMIT!!!

DWAYNE SMITH
Paradise Properties, P.O. Box S
Dillon, Colorado 80435
Phone toll free 800/922-2590

POSITIONS AVAILABLE
All positions are in Missouri, Kansas, Arkansas or Oklahoma
Executive Vice President, $60mm bank, over 100,000 ^
population
Open W
Cashier, $30mm bank, 10,000 population
$25,000
Executive Vice President, Loans, $25mm bank, under
10.000 population
to $30,000

BANKERS AVAILABLE
Commercial Lender w ith eight years of experience in $100
million b a n k ...............................................................$35,000
CPA/Chief Financial Officer o f Thrift In s titu tio n ................
................................................................... Salary negotiable.
Real Estate Executive with 16 years experience in all
p ha se s.......................................................Salary negotiable.
Insurance Agent with excellent production and manage­
ment re c o rd .........................................................Salary open

czdfoidzx and
Bank Consultants
Specializing in Bank Acquisitions
P.O. Box 450

515-232-0814
405 Main Ames, Iowa 50010

D o n a l d E . H o l d e r , Principal
POSITIONS AVAILABLE
AGRI-LOAN INSURANCE— investment opportunity for ex­
perienced insurance agent w ith some Ag-lending
background.
$25,000 +
COMMERCIAL LOAN— urban bank w ith lots of room for
advancement. Position in secured lending division and re­
quires good business development skills.
$28,000
SECOND OFFICER—requires Agri-loan background and
some knowledge of operations. $25MM bank
$27,000

CORRESPONDENT OFFICER—a ffilia te of major midwestern holding company. Requires degree and “ calling”
Bank Examiner with eight years of experience. Strong in
experience.
$30,000
loan analysis...................................................................Salary $30,000
CASHIER—variety of duties including insurance and AgMarketing Executive with operations background...............
lending. $20MM rural bank
$25,000
..................................................................... Salary negotiable
COMMERCIAL LOAN—$60MM com m unity bank. Super­
Strong Second Man in community bank seeks new oppor­
vise Commercial and Ag Departments.
$35,000
tunity ................................................................Salary $32,000
Ag Lender with ag degree and lim ited experience ..............
............................................................................Salary $16,000

AGRI-LOAN— head $10MM department in medium size
com m unity bank. Degree desired.
$30,000

Cashier w ith college degree and four years experience . . .
............................................................................Salary $23,000

A ll inquiries confidential.
quirements requested.

Senior Ag Lender w ith college d e g re e ........ Salary $32,000
Number Two banker w ith extensive lending and opera­
tions expe rie nce .........................................................$35,000
W rite or call Malcolm Freeland, Freeland Financial Ser­
vice, Inc., 1032 Carriers Building, Des Moines, Iowa 50309.
Phone 515/282-6462. Employer pays fee.

Resume' and

salary

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

Voi. 11 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.

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Federal Reserve Bank of St. Louis

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