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Vol. 14 No. 31 Des Moines, Iowa Is There Light at Ei id o f A g Tunnel? in the Am encan Bankers A ssociation’s Na tional Agricultural Bankers Confer ence in Dallas last week heard some encouraging words o f hope that light may be appearing at the end o f the dark tunnel that has enveloped the midwest ag econom y the past two years. The hope rests in the de gree o f stabilization that may be achieved with a workable farm bill and a Farm Credit System workout that w on’t be disadvantageous to commercial banks, and the possibili ty that land values m ay bottom out after the next expected drop. K eynote speaker Jerom e K. Green, president and CEO o f J.I. Case, Inc. Racine, W is., told how his firm has re-positioned itself with some difficult internal decisions and its purchase o f International Har vester’s farm machinery division. He feels the steps taken to reduce capacity, price discounts to sell o ff excess inventory, gains in operating efficiencies and dealer consolida tions have now produced a leaner, more efficient organization geared to com pete in the changed ag scene o f tomorrow. In addition, Mr. Green gave a brief outline o f results learned by J.I. Case from ag custom ers in its survey to determine “ Farmer A tti tudes Toward Agricultural Lend- P a r t ic ip a n t s ers.’ ’ The survey was made among 679 North American Class IA farm ers by telephone during the first half o f September—528 in the United States and 151 in Canada. He said in spite o f all the reported troubles, foreclosures and bad news in the ag industry, “ They still like you! O f all the ag-related professionals they deal with, farmers think it is m ost im portant to have a strong relation ship with their banker. M ore im por tant than their seed, fertilizer, chem ical and, yes, machinery dealers. And significantly more im portant than their accountant, lawyer or veterinarian.” He said 55% had a favorable opinion o f their banker and 30% were neutral. “ That adds up to an overall approval rating o f 85 percent, which is a higher rating than Ronald Reagan has!” The sur vey is reported in a 111-page bound folder that was made available to all conference registrants. A t the concluding general session, John F. Marten, the well-known staff econom ist for Farm Journal magazine, W est Lafayette, Ind., dis cussed the positive factors in the current econom y, referring specifi cally to the recent decline in the dollar value. W ith the hope o f some further decline in that value, Mr. Marten said it is well to keep in mind that it takes about a year for November 18,1985 the export market to turn around and im prove after that decline is recognized in the markets. He said we should see improvement in soy bean exports first and wheat last, since alm ost every nation now pro duces wheat. For com m odity prices he is pro jecting as follows: Average hog prices $45 the next 9 months with a $50 peak around Christmas. Could be in mid-to-low $30s next fall. Average choice steer prices next 12 months at $60. The past four years it has been $64. Cotton is over-produced and the 570 price will go down next year. W heat will average $3.15 bushel. Soybeans average price this year at $5.25. A support price o f $5.02 is probable. He said not to look for more than a 300 increase, then flat ten. “ W e’re going to sell our beans (from his farm) for cash.” Corn production will be 8.72 bil lion bushels, for 117 bushels per acre, compared to 43 bushels per acre in 1955—a 74-bushel per acre improvement in 30 years! “ The good news is if you’re in the government program ,” he said. He told bankers to consider where they fit into this scheme. “ Y ou’d better be there when they get those checks,” he admonished. Mr. Marten said that as a farmer he’s looking at cutting every ex- ASK STAN FARMER to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis isi A BANKS OF IOWA BANK Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC ~l~eamwork: one of the reasons we're first in Iowa. Tom Quinlin pense item he possibly can. He said cash rent typically has been $150 an acre and must get down to $80 to $110 per acre. He pointed out again that Farm Journal survey data shows that 40% o f farmers have little or no debt. O f the remaining 60% , various num bers are being reported as severely troubled. His survey shows that fi gure as 35%. Other surveys report varying figures, but by adding in the com ponents each survey reports in a different way, practically all o f them add up to one-third actually being in severe trouble. He then said if fall ing interest rates continue, 4‘this will open a door for many to walk ou t" from under highly troubled debt loads. “ Land rates," he said, “ which have already fallen 36% in 12 north ern states, will slide down some m ore;" although he's looking for a bottom ing out figure that will see land at 40% o f the inflation year figures. “ Look for rent, machinery, fertilizer and other costs to go dow n," he said, for all these sup pliers ju st have to reduce input ex penses to farms. “ If those costs go down 2% and I can increase m y yields 2% for five years," he stated, “ m y cost per bushel goes dow n." This will further reduce the debt stress on the pre sently troubled farmers, and all these factors combined, if allowed to converge in the next year, should John Cretzmeyer Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 D o n a l d E . H o l d e r , Principal County this year. It reopened Nov. 12 as an office o f Carroll County State Bank o f Carroll. The Carroll bank, which is located about 12 miles away, will assume $6.8 million in 1,900 deposit accounts and agreed to pay a $167,000 premium to the FDIC. A ccording to State Banking Superintendent Tom Huston, the failure was due to bad loans, parti cularly ag loans. help reduce the numbers who have severe financial problems. In closing, Mr. Marten said, “ A s we look for a solution for the ag fi nancial problem, we keep federal D U RAN T: Ollie Hansen, pres., ownership o f land at the bottom of Liberty Trust and Savings Bank, is our options." In response to a floor recuperating in room 421, Saint question, “ When are you going to Luke’s Hospital, 1227 East Rushbuy your next farm ?" Mr. Marten olm e S treet, D aven port, Iow a responded that in northern Illinois 52803, after suffering a heart attack. $4500 per acre land was now down Mr. Hansen had been in W ashington to $2200 and probably could be testifying before a congressional bought at $1600 to $1700 per acre, subcom m ittee on the bankruptcy about 40% o f the top price. “ W e law proposed revisions. He returned may be approaching that 40% fi home and was hospitalized the fol gure," he stated. “ The per acre price lowing day in Davenport. A t press will go down on the next report. A time, Mr. Hansen was recovering lot will finally be on W ashington’s well and had received get well mes sages from many friends. shoulders." A detailed report with pictures from the conference will be in the Illinois News December N o r t h w e s t e r n B a n k e r . CHICAGO: American National Cor □ poration has announced Ronald J. Iowa News Grayheck has been elected president The Bank Adm inistration Insti o f the corporation and o f its princi tute will hold its November meeting pal subsidiary, American National on the 21st at the Great Hall on the Bank and Trust Company o f Chi Simpson College Campus in India- cago. He has been senior executive nola. The topic will be “ Loan Re vice president and head o f commer view ." Social hour begins at 5:30 cial banking since 1977 and a direc p.m ., with dinner at 6:30 and the tor since 1982. He replaces Keene H. m eeting to follow. Cost is $10; regis Addington, who has resigned to pur trations may be made with Donald sue other interests. Mr. Addington Fatka at City State Bank in Madrid, joined the bank in 1975 and has been president and COO for seven years. (515) 795-3807. AU BU RN : The Auburn Savings Bank was closed N ov. 8, making a total o f three bank closings in Sac Make The National Bank o f W aterloo your custodian bank! • The national Bank o f W aterloo is an approved custodian bank for the state o f Iowa. •Fast, efficient com puterized reporting system . •Provides pledging system to secu re public funds. •Low, low m onthly fees under our system . https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis <zdfo[ctzx a n d <^f±±oaLats.± Call: 319-291-5235 for complete details. Write: Attn: Don Stonewall, Vice President The National Bank of Waterloo 100 E. Park Avenue Waterloo, IA 50703 YORKTOW N: Gerald B. Klein has been named senior vice president o f the Bank o f Yorktown. He has been with the bank since 1969. Kenneth J. Zilka has been appointed vice president, commercial lending. He was form erly assistant vice presi dent o f that department and has been with the bank for tw o years. Wisconsin News GREEN B A Y : Barry James has been prom oted to senior vice presi dent o f First Interstate Bank in Green Bay. He supervises all lend ing as well as the personal hanking area. He joined the bank in 1982. CAREERS, INC. AG BANKING PERSONNEL SPECIALISTS AG BANKERS AVAILABLE NL-1 CE0/#2— Extremely capable EVP currently in charge of $40MM ag bank with responsibilities of administration of $27MM loan portfolio. Three years bank examiner. Reference says, "Ex cellent banker...very good knowledge of all lending phases... positive attitude...a SUPER PERSON.” B.S. Bus. Admin. Married. $40,000 + . Call Linda. NL-2 AG LENDING/FARM M6T— Actively involved in cash crop farm ing and small livestock operation along with being a full-time banker. 2Vz yrs. with a small, rural bank. Handles all lending and operations. Reference says, "H e’s very positive and personable... good communication skills.” B.S. degree. Married. Age: 45. $28-30,000. Call Linda. NL-3 LOAN OFFICER— 21/2 yrs. with major holding company. Handles $3-4MM ag portfolio. Looking for career advancement and relocation closer to university with undergraduate program available. Good references. ISU Grad in Ag Education. Married. Age: 24. $20-22,000. Call Linda. NL-4 INSTALLMENT LENDER-Offers AVz yrs. with $70MM + + bank as loan officer with duties in installment lending, student loans and collections. Receives excellent recommendation from current employer. Dairy background. A.A. Business. Married. Age: 25. $25,000. Call Linda. NL-5 AG BANKER— 31/2 yrs. with $20MM + + ag bank. Handles $5MM in ag/commercial and R.E. loans. One year with FmHA. Available due to limited advancement. Good references. B.S. Ag. Married. Age: 26. Upper $20,000’s. Call Linda. NL-B BANK OPERATIONS— Reference says, "Efficiency and knowl edge of bank operations are her strongest points. Knows bank operations inside and out.” Seventeen-and-one-half yrs. with $18MM ag bank which included operations, loans, investments, collections, data processing and secretarial duties. Has maxi mized her abilities at the bank and needs a new challenge. Com munity involved. Single. Age: 37. $20,000. Call Linda. NJ-7 SR. V.P.— Over 7 yrs. with same $50mm. Responsible for ap proximately $5mm ag & $5mm commercial loans. A ‘conserva tively aggressive’ banker—able to recognize and add good loans, and work out problems. Strong on cash flows. Thorough understanding of wheat and cattle ranching. Qualified for C.E.O. or E.V.P. positions, or will consider V.P. with growth potential. Prefers Western U.S. location, in or near college town. B.S. Ag Econ. plus numerous ag and commercial lending schools. Mar ried. Age 32. $36-$45,000. Call Jean. NJ-8 JR. AG/0PERATI0NS OFFICER— References say, "Exceptional! Bright and willing to work.” Offers 4 years bank exper. Started in small ag bank running in-house computer and helping with ag loan analysis and collections. Now handles general ledger and loan accounting, and is assistant to comptroller and auditor of Bancorp in $100MM ag bank. Has attended ag lending school and Chicago Board of Trade Marketing Seminar. IBM-PC, Bur roughs, and Hewlitt Packed computer experience. Desires posi tion combining operations and ag lending duties. Farm raised. B.S. Degree. Married. Age 25. $21,000. Call Jean. NJ-9 SR. V.P.— With 4 yrs. current banking experience (VP/ALO, responsible for $10mm ag loans and assists with commercial), and 10 yrs. previous PCA and farm management experience, he’s a versatile and seasoned candidate for your bank. Refer ence says, "Qualified to be Sr. L.O. in any $50-$75mm bank. Able to bring in quality loans...spends time after hours calling on farm customers helping them avoid problems. Excellent on cash flows, documentation, counselling, and QUALITY!" B.S. Ag Econ. and numerous credit schools and banking conferences. Married. Age 39. $35,000. Call Jean. NJ-10 AG LOAN OFFICER— Over 6 yrs. ag lending experience, past 2 yrs. with $50mm bank as #2 in ag dept. Very personable young man with much to offer. Reference says, "Has all the tools to be successful.” B.S. Ag Bus. from ISU. Married. Age 29. $30,000. Call Jean. NL-11 AG LOAN OFFICER— Fourteen months as ag rep. for major holding company. Position eliminated due to consolidations. Makes an excellent personal appearance. B.S. Economics. Single. Age: 25. $18-20,000. Call Linda. NL-12 #2— Started banking career as a finance trainee, then con tinued in collections for six years with a savings and loan co. Re cent experience includes bank management, ag, commercial and installment lending along with insurance sales for a small chain bank. Highly recommended by present employer. B.S. Bus. Admin. Married. Age: 36. $30,000. Call Linda. Our reputation of maintaining our candidates’ confidentiality enables us to at tract a select group of ag bankers and lenders... those currently employed and not actively Job hunting, but ready to make a move for the right opportunity. When you describe your needs to us, we contact our candidates who fit your de scription to discuss the position and location to ascertain their interest before disclosing their names or sending you their resumes. This not only protects our candidates Identity, but saves you tlme...when we sub mit a candidate for your consideration, you’ll know he or she has an interest In your bank, community and salary range. Let us know your needs without commitment; we won’t ‘hound’ you with phone calls or ‘flood’ you with resumes, and there is no fee unless you hire. Linda Heit 515/394-5827 New Hampton, Iowa 50659 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis We serve as the source to locate candidates who meet your qualifications and are Interested In your position. We are available to assist, not ‘Insist.’ We allow and encourage your direct contact with our candidates. YOU make the choice and decision without pressure. Supplement to Northwestern Banker Newsletter 11-18-85 Jean Eden 515/263-9598 (W/F) 712/779-3567 (M/T/TH) Massena, Iowa 50853 AG BANKERS AVAILABLE NL-13 AG BANKER— Offers two years of well rounded experience in NL*21 #2— Six years with a finance company in branch manage banking, including audit functions, operations (microcomputer applications), compliance, consumer and ag lending. ISU grad in Ag Business. Married. Age: 25. $20-22,000. Call Linda. ment (receives excellent recommendations from supervisor). Eight years in commercial, installment, residential real estate and ag lending for a $60MM bank. Licensed in insurance lines. Mar ried. Age: 36. $32,000. Call Linda. NL-22 AG/0PERATI0NS OFFICER— Reference says, "Aggressive, works well with farmers and did an excellent job screening clients.” Three years ag loan correspondent for finance company and currently assistant branch manager and loan officer with a major holding company. Well recommended. B.A. Ag. Married. Age: 27. $23,000. Call Linda. NJ'14 SR. V.P.— Workout specialist for past 2 yrs. in $25mm bank. Successfully handles large loans and legal matters in clean up process. Six yrs. previous experience as Branch Mgr. with PCA. Strong military background. Reference says, “ A high perfor mance individual...digs in and works through problems...a detailoriented, self started...good decision maker, who’s had experi ence by fire.” B.S. Ag. Married. Age 38. $43,000. Call Jean. NJ-15 AG LOAN OFFICER— References say, "A hard credit man; analyzes the total picture, makes a decision, and takes a firm stand...results-oriented.” Over 7 yrs. PCA experience. Respon sible for collections, budget, marketing and personnel. Distin guished appearance, congenial personality. B.S. Ag Age 29. $28,000. Call Jean. NJ-16 AG LENDER— Currently branch mgr. in charge of loans, operations, and business development at small branch bank. Has total of 4 yrs. banking experience, with first yr. spent as ag lender and asst, cashier. An energetic, well-spoken individual. M.S Ag plus bank schooling. Married. Age 34. $28,000. Call Jean. NJ-23 V.P. AG LOANS— In charge of $10MM ag loans at $50MM bank for the past 3 yrs., this candidate was formerly a PCA loan officer. Strengths include constant involvement with loan work outs, as well as ample exposure to other areas of banking. Highly praised by former supervisor. M.S. Ag. Married. Age 39. $34,000. Call Jean. NL-24 AG LOAN OFFICER— Reference says, “ Excellent ag lending knowledge and good rapport with clients.” This extremely sharp ag lender offers four years with FLB most recently supervising a staff of two loan officers and two clerical. Very knowledgeable in agriculture. Quick and accurate in credit analysis. Self-starter. B.S. Ag. Married. Age: 26. $30,000. Call Linda. “In some cases, a bank’s employees are the only distinguishing factor between the bank and its competition. We were able to hire the kind of individual we wanted through AGRicareers.” Randy Schouten, Pres. Norwest Bank Montevideo, MN NJ-17 V.P./AG— Four yrs. as ag lender with major holding com NJ-25 V.P.— Currently in charge of $10MM ag portfolio in major pany bank, and past 2 yrs. as V.P. of $25mm independent bank, in charge of problem ag loans and workouts. Reference says, “ Has experience in all areas...learns quickly and thinks before he speaks...really works well with farm accounts.” Farm raised. B.S. Business Admin. Married. Age 28. $28,000. Call Jean. holding company bank. Three + years in banking, 1 year with FmHA. Heavily involved in problem loan workouts and negotia tions. Very community minded. B.S. Ag. Age 27. $30,000. Call Jean. NJ-26 AG LOAN OFFICER— Offers 3 years current bank experience; responsible for half of ag portfolio in $40MM bank; also works with commercial, R.E. and installment loans. B.S. Ag Bus. (ISU—3.8 GPA) plus bank schools. Good experience with com puters. Sharp appearance. Married. Age 26. $23,000. Call Jean. NJ-18 C.E.O.— Offers 7 yrs. bank management experience plus 10 yrs. as bank examiner. Has established loan review procedures and successfully implemented corrective action in problem loans at current bank. Ag and commercial lending knowledge as well as operations, personnel and investments. B.S. Ag. Married. Age 40. $50,000. Call Jean. NJ-19 AG LENDER— Over 2 yrs. with Farm Credit System, plus previous experience in ag sales and teaching vo-ag. References report, "A dedicated and conscientious worker. Pays attention to detail. A smooth and intelligent individual, who has thorough knowledge of agriculture.” B.S. Ag. Married. Age 28. $27,000. Call Jean. NJ-20 AG LENDER— Has 4 yrs. bank exper. Started in installments, is now ag rep handling $3 mil. of $5 mil. in ag loans in $22 mil. bank. Reference says; "strong on cash flows, excells in ag lend ing...understands farming, analytical, good judgment, an outgo ing and popular individual.” Degree in Ag Banking plus MN bank courses and ag lending school. Apple computer exper. also. Married. Age 25. $25,000. Call Jean. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NJ*27 C.E.O.— Currently C.E.O. of $50MM ag bank. 15 yrs. bank ing experience. Strong lending/administration skills. B.S./M.S. plus advance banking schools. Married. Age 45. $65,000. Call Jean. NJ-28 SR. MGMT— Now Pres/CEO of $10MM ag bank. Handles all loans, bank management, investments. Prior exper. in correspon dent and trust areas. Strong ag background. Excellent appear ance. B.S. Economics plus graduate of banking schools. Mar ried. Age 37. Will relocate to midwest towns of 1000 or more. $45,000. Call Jean. NL*29 EVP— Currently responsible for ag, real estate, commercial and installment loans for a $13MM bank along with bank opera tions. Reference says, “ He has super credit judgment-no ques tion about it! Excellent rapport with customers.” Looking for a challenge. Licensed in Insurance and Real Estate. B.S. degree. Married. Age: 33. $35,000. Call Linda. Attention CEOs Let's tell the IRS w here to put their Magnetic Media Requirements! let Bies handle your Magnetic Media Requirements. Your headaches, and profit problems, are going to continue. Seems that the 1RS is determined to make life as tough as possible for financial institutions like yours. in 1985, fewer finan cial institutions will be granted waivers that ex empt them from filing information returns on magnetic media for the forthcoming tax year. if you can’t do it yourself, your options, unfortunately, are limited. You may: 1. Apply for a waiver 2. Ship it off-site for someone to putin IRS format 3. Contact BICS BlCS, unlike other sys tems that "seem" to offer the same service, does it all. All you do is provide us your list and we start right 4. And, the price you pay could be as low as 39.9C per transaction. Don’t let the 1RS make it any m ore miserable. /■ 'o il W d ll D IC C D lW In lo w a : 1 - 8 0 ° - 3 3 2 - 5 2 4 2 l U U d y . Out Of State: 1-800-421-0059 □ Please send me more information on BlCS year-end reporting services. NAME □ Yes, l am interested. Please call me at: ( )__________________ . ADDRESS □ Please send me more information on BlCS other services. (Use space below to list areas of interest.) state https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CITY___ BlCS 4333 Edgewood Rd. N.E. P.O. BOX 1847 Cedar Rapids, IA 52406 zip Supplement to Northwestern Banker Newsletter 11-18-85 BIOS: The Complete Service for Year-End Reporting Look at the BICS checklist we provide reporting on: 1 . General IRS 1099s 2 . Patronage dividends 3 . Bonds 4 . Coupons, etc 5 . Amended returns Plus, we provide for: e o . 7 . Customer statementing Permanent record retention on microfiche 8 . Exact representation of customer report to IRS y . Federal and State reporting 1 0 . And, ability to respond to new Items, (eg. 1098s) No sense kidding ourselves. The business of finance gets more complicated all the time. Which means you need BICS to help you get out from under the crunch of magnetic media reporting. You could buv the software and equipment upgrades yourself. You could invest the hours your staff would require. Or you could simply call the number below- You'll be amazed at our low cost! in Iowa: 1-800-332-5242 o u t Of State: 1-800-421-0059 ......■ ■ ' .........• https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Call on the “Experienced Professionals” Ready to meet your correspondent needs. i • a Nebraska News The Iowa*Nebraska Chapter o f the Bank M arketing Association is presenting a marketing conference 0 on Nov. 20, at the M idtown Holiday Inn in Grand Island. Ray Golden, national accou n ts m anager o f W ATS M arketing o f Am erica, will address “ The D o’s and D on’ts o f % Telem arketing.” Banker Joe Eames w ill discuss several m arketing topics, including sales program de sign, training, m otivation, and pub lic relations. ® _ * ^ # • ^ 0 0 BROKEN BOW : Final approval for change o f control o f Security State Bank in Broken Bow has been granted by the Nebraska Department o f Banking and Finance and the Federal Reserve Board o f Kan sas City. The new owners are Dr. Edward J. Jezbera o f Riverside, Calif., and W illard W . Keller o f Broken Bow. Terry O. Jensen is the new bank president. O M AH A: Michael L. Dahir has been named vice president and chief fi nancial officer o f FirsTier, Inc. He form erly headed Omaha National Bank’s Lending Division, and is suc ceeded in that position by Robert A. Suddick. Mr. Dahir joined Omaha National in 1974. Mr. Suddick joined the bank in 1968, and was named head o f the resource manage ment and credit review department in 1984. O M AH A: A t Douglas County Bank & Trust Co., Robert Gross has as sumed the position o f senior vice president o f the loan division. He joined the bank in 1971 and was m ost recently manager o f the loan division. In addition, Peggy J. Blake has been prom oted to vice president o f personnel. She joined the bank in 1973 and m ost recently was personnel officer. South Dakota News M ILB AN K : Dakota State Bank of Milbank has announced the appoint Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 F irst Interstate Bank B uilding Des M oines, Iowa 50309 515-283-2545 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis i ^ F irst N a tio n a l L in co ln A FirsTier Bank Member. F.D .I.C. 13th & m streets, Lincoln, n e 685oi ment o f Thomas N. Gronseth as vice president. He will be responsible for credit analysis, commercial loans, personnel and purchasing. He joins the bank after five years with Norwest Bank South Dakota as agri culture lending officer. Wyoming News CHEYENNE: Ron D. Bunnell has been named vice president o f human resources at First W yom ing Bancorporation. He was previously employee relations and safety man ager at W ycon Chemical Company. JACKSON HOLE: American State Bank has changed its name to Bank o f Jackson Hole. The bank was re cently purchased by a local invest ment group headed by Jackson Hole artist Conrad Schwiering. LAN D ER: The Board o f Directors o f the FDIC has announced it is pre paring to pay o ff insured depositors in the Yellowstone State B a n k Lander. The bank was closed on Nov. 1 by State Examiner Stanley R. Hunt, and the FDIC was named receiver. D eposits am ounted to about $19.2 m illion in 3,200 ac counts. The FDIC estim ates that all but about $335,000 o f the deposits in 13 accounts are within the federal insurance lim it o f $ 100,000 or are otherwise secured. Owners o f such uninsured deposits will share pro portionately with the FDIC in the proceeds realized from liquidation o f the bank’s assets. No acceptable bids were received for the failed bank. Colorado News AU RO RA: The Board o f Directors o f the FDIC has announced that the deposit liabilities o f The Aurora Bank have been assumed by OM NI BAN K Iliff, N .A., Aurora. The failed bank’s only office reopened on Nov. 4 as O M N IBAN K Iliff, N .A., and its depositors autom atically becom e depositors o f the assuming bank, subject to approval by the ap propriate court. The Aurora bank was closed N ov. 1 by State Bank Commissioner Richard B. D oby, and the FDIC was named receiver. OM N IBA N K Iliff, N .A. will assume about $14.7 m illion in 3,100 deposit accounts, including $ 1.0 m illion in 19 accounts in excess o f the federal insurance lim it o f $100,000. The as suming bank has agreed to pay the FD IC a purchase prem ium o f $657,550 and also will purchase cer tain o f the failed bank’s loans and assets for $9.5 million. T o facilitate the transaction, the FDIC w ill ad vance $5.0 m illion to the assuming bank and will retain assets o f the failed bank with a book value o f about $7.6 million. The FDIC ex pects to recover a substantial por tion o f its outlay through the liqui dation o f assets not transferred to the assuming bank; its claim will have priority over the claims o f shareholders o f the failed bank. Correspondent Banking Are you happy withyour present availability schedule? If not, call United Missouri. Let’s face it. The sooner you get it, the faster you can invest it. That’s why United Missouri’s new avail ability schedule can help cut costly float time. Our national clearing pro gram, competitive pricing and dayto-day personal service make United Missouri one of the best sources of correspondent services in the coun try. Give us a call for information, then make comparisons. We think you’ll call us again. lb U N IT E D M IS S O U R I B A N K Member FDic Gf K an sas C ity , n .a . 10th and Grand, P.0. Box 226 Kansas City, Missouri 64141 (816) 556-7900 POSITIONS AVAILABLE CEO - S.E. Nebraska and S.W. Iowa banks of over $20M and $40M. Need 10 years or more experi ence. 340-65K. B A N K IN G S P E C IA L IS T S L E N D IN G • T R U S T • O P E R A T IO N S AG LENDERS • W. Central Iowa. Need 2-3 years experience. Need 2 people. 325-30K. Serving the Entire U pper M id w e s t COMMERCIAL LENDER - Need 2 + years In com mercial lending. Omaha. To $30K. For Prompt, Courteous, Professional Attention T o Y o u r S t a ffin g Needs, Call On Us. CONTROLLER - S.W. Iowa. 3-5 years experience. $28-35K. All fees are paid by our client employers. Richard L Seem, CPC QUMBERT EXECUTIVE EXCHANGE, INC. 11248 Davenport Street Omaha, NE 68154 Phone: 402/390-3280 Member National Personnel Associates We’re Nationwide Diane Evans 816/842-3860 R Financial Careers COMMERCIAL LENDER for $85 million midwest bank. Re quires college degree and 3 to 5 years experience ............ .....................................................................Salary to $35,000 SENIOR INVESTMENT OFFICER for major midwest bank. Requires experience In bank of $200 million In a s s e ts ___ ............................................................................... Salary open 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 SENIOR COMMERCIAL LENDER for $100 million bank in town of 15,000 in upper M idw est...................... Salary open SENIOR COMMERCIAL LENDER to be In charge of all loans in bank of over $200 million In assets . . . Salary open CEO for $10 million midwest bank located In small town near university c i t y ........................ Salary to $38,000 + car e g e n c y RECRUITERS. INC. 1102 Grand Avenue, Kansas City, MO 64106 CASHIER for southwest Iowa financial Institution............ ........................................................................... Salary $18,000 VICE PRESIDENT for Loans/Operatlons for $15 million northern Iowa bank .................................. Salary to $30,000 POSITIONS AVAILABLE 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) SENIOR LOAN OFFICER— Experience in commercial SBA & real estate loans. Excellent career opportunity. Salary commensurate with experience. Contact: Arvid D. Evensvold, President, First National Bank of Hastings, Hastings, MN. (612) 437-3106.______________________________ (PA) AGRICULTURAL LOAN OFFICER to manage bank office. Must be call and marketing minded. Desire 5 yrs. banking experience. Send resume to Bob Scott, Boone State Bank, (515)432-6200. (PA) COLLECTIONS, AG A INSTALMENT LENDING. Prefer strong collection background or Finance Co. experience and business degree. Good loan documentation skills and farm background a plus. Evening educational opportunity, Mankato State Univ., 23 miles. Will train in lending if need be. Good salary 15 to 30K commensurate with experience. Send resume, grades, & salary requirements, confidential, c/o Personnel Director, Security National Bank of Amboy, MN 56010. (PA) Are Problem Loans Keeping You Awake at Night? We are interested in talking over your non performing commercial ag & real estate loans. For information call (402) 721-4514. 10 hours/1 day - December 11 Adventureiand Inn, Des Moines Pre-registration $55.00 Registration at door - $65.00 Call: American Equltel Insurance Agency (515) 276-6168 BANKERS AVAILABLE PRESIDENT - Innovative leader with successful track record as a head of a $100m + bank combining clean port folio and good earnings. Accomplished lender in both ag and com’l environments with good understanding of oper ations. $55K. SR TRUST OFFICER • Expplusl 25 yrs in $30m + dept hands-on knowledge of estates, new business develop ment, administrative & Investment duties. Professional & thorough at home in the competitive upscale/whlte collar market. $38K. AG LENDER • Loan analysis,collections,farm calls, cash flows and general ag lending in $20m + dept. Seeks lend ing role In an environment that can offer growth and salary potential. $21K. PARTIAL LIST OF AVAILABLE BANKERS FOR FURTHER INFORMATION CONTACT: KURT ROSENCRANTS AT (515) 244-4414 <M M ) <M M > <M ► M W ® ROBERT M S B U F 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID 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 Please call Malcolm Freeland or Cy Kirk in care of: Freeland Financial Service 1010 Equitable Bldg. Des Moines, IA 50309 515/282-6462 Employer pays fee. WANT TO BUY WANTED—Good used or rebuilt microfilmer. Please call (712) 779-2234. ____________________ (WTB) Estate Appraisals BANKING OPPORTUNITIES CONTROLLER/CASHIER— in $30-70mm banks in S. MN, W. IA, & SD. Member of mgmt team. $28-35K. SR CREDIT OFFICER— In mid sized SD bank. Oversee all areas of lending. Potential to become Pres. $40K. AG LENDER—well capitalized small holding com pany. N. IA. $30K. Contact Barbara J. Ritta at CONTINUING EDUCATION LIFE & HEALTH COMMERCIAL LENDER for large Independent Twin Cities area bank. Leads to Division H e a d .......... Salary to $39,000 Purchase of Collections Sale o f Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest PROFESSIONAL RECRUITERS, INC. P.O. Box 24227 Omaha, NE 66124 1-800-225-2885, In NE (402) 397-2886 Ben E . Marlenee Coins FOR SALE 24x60 Temporary Bank Building with canopies for sale. Available Spring 1986 Equipment Optional If Interested please call Dennis Prchal at (612) 224-1371 (FS) 913 Locust Des M oines, Iowa 50309 515-243-8064 PO SITIO NS A V A IL A B L E AGRI-LOAN - senior lender for $40MM Ag Bank. Work out loan experience desired. $38K FOR SALE COMMERCIAL LOAN • middle management position with $100MM + suburban bank. Need two-four yrs. experience. $28K DIEBOLD 910 WALKUP ATM & a 9810 Controller 5 years old. 100,000 Transactions. Call Sharen (515) 752-4591. (FS) SECOND OFFICER • Ag-oriented bank with large cattle loan portfolio. Previous administration experience a plus. $40K NCR MINI VIPS— model 675 sorter, 6420 line printer & 8250 128K processor, contact: John Jones (309) 829-1000 Ext. 296-________________________________________ (FS) 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 BANK CONSULTING FOR LENDING Loan risk-rating, bank risk-rating, work-out loan assistance, documentation audit, training. 8 yrs. exp. loan review/loan officer/bank counsel. Daniel W. Hansen 3827 Llndlavlsta, Des Moines, la. 50310 Phone: 515-278-9174 ALL INQUIRIES CONFIDENTIAL. PLEASE FORWARD RESUME. TOM H A G A N & ASSO CIA TES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Voi. 14 No. 31 Northwestern Benker Newsletter (USPS 873-300) Is published weekly by the Northwestern Benker 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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