The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Economists See Slower Pace But— Economic Expansion Still on Track w _ ® • ^ 0 0 • • November 26,1984 Des Moines, Iowa Vol. 13 No. 32 1 Mf H IL E m any governm ent W watchers, economists, busi nessmen and others are basically “waiting to see” what happens since the national election earlier this month, the economists of at least two major banks are looking for eco nomic growth in the nation in 1985, even though at a slower rate than 1984. Financial Digest, weekly econom ics publication of Manufacturers Hanover Trust Co., New York, states “There is plenty of life in the two-year old recovery, and the eco nomic expansion is still solidly on track.” The Digest points to the strong index of economic indicators and the fact that U.S. and Canadian auto strikes have been settled. A re cent decline in money market rates should boost interest-sensitive in dustries such as housing and dur able goods, while consumer attitudes are brightening just in time for the Holiday shopping season. Digest further says the lower un employment rate of 7.4% masks the substantial rise in number of people employed—a 350,000 worker rise in October, while non-ag businesses posted a 440,000 gain in payroll employment. Also, the number of jobless decreased by 30,000 in the month, making it the 12th decline in the past 14 months. Most of these increases were in service industries. “The entry of 320,000 persons in to the labor force shows people’s confidence in the health of the eco nomy,” the Digest concludes. It cited the Conference Board’s Octo as televisions, vacuum cleaners and washing machines and dryers.” Economists Joe Keating and Jack Tilton at American National Bank in Chicago concur. In their quarterly report, they cite their expectation for a rebound in consumer spending and for continued gains in business capital spending to carry the econo my. They, too, look for the economy to receive a temporary boost from the housing and consumer durable goods sectors due to the roughly two percentage point decline in interest rates over the past few months. While GNP real growth dropped from an 8.6% annual rate in the first half to 2.7% in the third quarter, due mainly to a 49.8% rate of gain in im ported goods and services, the good news, Mr. Keating and Mr. Tilton state, is about the positive impact of the strong dollar on inflation. They estimate that 1984 inflation rate now to be 3% to 4.5%, but predict a cyclical upturn in inflation rate for 1985 to 5%. By mid-1985 they expect a one percentage point rise in interest rates, a fed funds rate of 11 %, three month T-bill yields at 10.5% and the bank prime rate to be 13%. Interest rates, they believe, will peak early in 1986 with an average first quarter prime rate of 14.5%. □ ber consumer confidence survey which shows the number of people expecting business conditions to im prove in the near term rose to the highest level since last April, when the economy was expanding briskly. “With an improved economy, people believe their employment and finan cial prospects will brighten, too. As Iowa News a result, consumers now plan to step up spending on new and used cars, FAIRFIELD: Dean Holst has been carpeting and such home appliances named president and chief executive ASK LYNN WHITEMAN to make M N B w o rk for you. Toll free: 1-800-332-5991 Merchants National Bank M em b er F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ib i A BANKS OF IOW A' BANK 2 Professional ... Responsive... 1 ‘ I H ¥ im U M f Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank £ DES M O INES. IOW A 50304 A BANKS O F IOW A BANK Member FDIC officer of First National Bank in Fairfield. He succeeds Earl Rodibaugh, who plans to retire in Janu ary of 1985. In addition, Steve Cracker, vice president, has been ad vanced to executive vice president and chief operating officer, and Randy Lewis has joined the bank as assistant vice president. Mr. Holst has been with the bank 11 years, most recently as vice president. JEFFERSO N : Douglas McDer mott, president of Home State Bank, has announced the promotion of Mary Geisler to vice president and cashier. Ms. Geisler has served as cashier for the bank since 1980 and previously worked as a Certified Public Accountant with Touche Ross and Co. in Omaha, Neb. MARION: Farmers State Bank re ceived approval from the state bank ing board last week for a full service office to be located in the Collins Road Square Shopping Center, 1380 Twixt Town Road. NEW SHARON: An application was filed with the banking depart ment November 16 for Taintor Sav ings Bank to dissolve and for Mahaska State Bank to purchase assets of the Taintor bank. Mahaska State would retain offices in New Sharon, as well as in Taintor where the bank was originally located. POSTVILLE: Jeanine Lenth recent ly was elected cashier of the Postville State Bank. She has been with the bank 24 years. Also at the bank, Diane Davis and Rose Pfister were elected assistant cashiers. Nebraska News Executive officers of Nebraska banks attending the Nebraska Bankers Association Leadership Conference in Kearney on November 16 voted in favor of a position state ment that says the NBA will oppose all forms of interstate banking in the next state legislative session. The standing vote recorded 110 in favor of that position statement and none opposed. Earlier in the day, speakers for both sides of the interstate issue had presented their viewpoints, then 14 round tables of discussion among the 140 registrants took up the issue. When those table reports were given, eight tables had a consensus opposing the issue, and six had a consensus supporting it. Of the six tables supporting it, two tables, however, felt that NBA should not initiate such legislation. As each table leader gave the table vote, it was reported that 67 opposed inter state banking, while 51 supported it. That 118 vote represented the num ber left at the tables at that time of the 140 registered. Following the table vote the posi tion statement was read, which re sulted in the 110-0 vote. The matter now goes to the NBA executive council, which meets December 13 in Lincoln, for a final decision. A n important new profit center for yo u r bank: ■ Contact: Leroy Bell or Milt Hennick a com puterized local billin^credit service 319-291-5412 National Bank of Waterloo 315 East 5th S t • Waterloo, IA 50704 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member Federal Reserve System FDIC c d f o [d s x a n d c d ^ iio c ia t s s . 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 LINCOLN: Max Callen, vice presi dent and head of the correspondent loan division at National Bank of Commerce, will assume new duties on December 1 as executive vice president and senior loan officer at City National Bank & Trust Co., Hastings. He will replace Michael B. Jacobson, who will move to Lincoln to assume Mr. Callen’s duties as head of the correspondent division and also will be senior vice president of Commerce Group, Inc., which owns both banks. OMAHA: First National Bank has announced the promotion of Charles R. Walker to vice president. Mr. Walker has been with the bank since August of 1983 as a second vice president and is now division head in charge of retail banking. Minnesota News MINNEAPOLIS: The Financial In stitutions Group of Norwest Corpo ration will host its 20th Annual Ex ecutive Management Conference and Duck Dinner on December 6 at the H yatt Regency in downtown Min neapolis. The following program has been announced: Thursday, December 6 ® A.M. 11:00 Registration, Hyatt Regency. P.M. 1:00 Welcome—John Morrison, chairman, and Darin Narayana, senior vice presidentFinancial Institutions Group, Norwest Corporation. 1:10 *‘Futurism—Rivets, Robots, S ta r W a rs ” —D r. E a rl ^ Joseph, president, Anticipa tory Sciences, Inc., St. Paul. Minn.; futurist, world-wide lecturer, author of 36 books. M 2:10 “The Banker’s Plight’’—Dr. Paul Nadler, professor of bus iness administration, Rutgers University, Brunswick, N.J. 3:15 “ Legislation ’85 Panel— ^ W hat’s Coming in the New Congress for Banking, Agri culture and Business.” Moderator: Robert A. Krane, vice chairman, Norwest Cor- q poration. Panelists: FLEX-O-PAY... an important new profit center for your bank IP FLEX-O-PAY® Developed for bankers by bankers The unique FLEX-O-PAY com puterized billing system has been developed by staff m em bers of The National Bank of W aterloo and Rec-Check, Inc. The system was designed by bankers for bankers. The developm ent was initiated to solve one of the current problem s faced by most banks. How do you generate additional income from your present staff and equipment? This simple, flexible plan is easy to operate, yet it can becom e one of your most im portant profit centers. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis For more details . .. on the FLEX-O-PAY computerized billing/credit system, give us a call or write to us. Our address is: The National Bank of Waterloo 315 East 5th Street Waterloo, IA 50703 (319)-291-5412 Your complete financial center. The National Bank OF WATERLOO Downtown / C rossroads / Logan P laza / N ation al P laza FDIC - Insurance What is FLEX-O-PAY.? This is a com puterized local billing/credit service that provides a consistent source of cash flow for your local business customers. You purchase the existing accounts receivables from your businesses on a discounted basis with full recourse. Your local merchants prepare charge tickets on all future credit transactions and deposit them with your bank on a daily basis. You bill and initiate all accounting through your com puter processing center or micro-computer. The consum er can make all FLEX-O-PAY payments direct to your bank or your commercial customers. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis What it can do for you. A FLEX-O-PAY® system can generate important income for you two ways. O ne is through the discount on receivables. And the second is finance charges on accounts with balances that have been billed over 30 days. This com puterized system can provide you with an important marketing tool to increase your commercial business. You can provide the plan to local businesses within your community You can market the plan to your local merchants because their accounts receivable are liquidated daily . . . their cash flow improves considerably Your local merchants can eliminate the difficult and time consuming task of billing and collecting from their customers. Supplement to Northwestern Banker Newsletter— 11-26-84 Call on the “ Experienced Professionals” HtinHIHIIII FIRST NATIONAL LINCOLN 13th & M Streets, Lincoln, NE 68501 A FirsTier Company • Hon. Sen. James Abdnor, Washington, D.C.; chairman, subcommittees on agriculture and transportation. • M. Danny Wall, Washing ton, D.C.; staff director, United States Senate Com mittee on Banking, Housing & U rb an D evelopm ent (chaired by Sen. Jake Gam— R., Utah). • Dr. Sung Won Sohn, se nior vice president and chief economist, Norwest Corpo ration. “Why Finance a Drought? (or, How Weather Affects Bank Ag Loans)” —Dr. Walter Lyons, president, R-SCAN Corp., Minneapo lis; meteorologist serving business and banking na tionwide. 5:00 “We’re Banking on Selling Ability”—Charlie Hermann, vice p re sid e n t—n ational sales development, Josten’s Inc., Owatonna, Minn. Cocktail Hour. Roast Duck Dinner. “ Salute to Americana”— featuring vocalist Marilyn Sellars and her orchestra. ^ 0 % # Spouse Program Spouses attending the conference will be guests on a tour via articu lated buses to the nation’s newest, $20 million WCCO-TV studio and to the Minneapolis Institute of Arts to view the special centennial collec tion that is celebrating the Insti tu te ’s 100th Anniversary. One group will proceed first to WCCOTV while the other group goes first to the Institute. Refreshments and music will be part of the Institute program. Each group then will pro ceed to the other location to com plete its tour. Buses will leave from and return to the H yatt Regency. PLYMOUTH: James Sherard has been named president of First Bank Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 U .C .B . Building, 515-283-2545 Des Moines, Iowa 50309 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Plymouth. Most recently, Mr. Sher ard was vice president and manager of First Bank Ridgedale, Hopkins. Neal Frank has been named to suc ceed Mr. Sherard as manager of First Bank Ridgedale. Mr. Frank had been serving as assistant vice president at Ridgedale. W isconsin News APPLETON: Paul R. Trigg has been elected president and chief ex ecutive officer of Firstar Corpora tion, following the resignation of William D. Wolter, chairman and CEO. Mr. Trigg has been serving as president and CEO of the holding company’s lead bank, Firstar Bank in Appleton, a position he will re tain. KINGSTON: The Kingston-Dalton State Bank has named Stan Sielaff as executive vice president. Mr Sie laff, who had been serving as vice president, will succeed Rellis Mor gan, who recently retired. Prior to joining the bank in September of this year, Mr. Sielaff spent 14 years with First Bank Freedom. SHEBOYGAN: David A. Rauwerdink has beeen appointed executive vice president and chief operating officer of Security National Bank. Mr. Rauwerdink has been associated with Security First National and its corporate affiliations, Security Fi nancial Services, Inc., since 1970. • Member, F.D.I.C. donald has joined the bank as vice president in commercial lending. Mr. Landis has been with the bank over six years and will also serve as cashier. He will handle operations, marketing and advertising. Ms. Sinn has been with the bank 27 years. Mr. Macdonald has spent a number of years with Bank of Amer ica in commercial lending, most re cently in San Francisco. LUSK: Rodger Jones has been pro moted to vice president of First Wyoming Bank and Dick Ivey will replace Mr. Jones as installment loan officer. Mr. Jones joined the bank in January from First Wyom ing Bank, Fort Collins. Mr. Ivey also joined the bank in January in its management trainee program. Meet the problem solvers. Illinois News BELLEVILLE: Following approval from the Comptroller of the Curren cy, Belleville National Bank has changed its name to General Bank, N.A. Melissa Smith South Dakota News PIERRE: Sandy Zinter has been elected vice president of BankWest and will head the commercial loan department in Pierre. Ms. Zinter joined the bank in 1980 and was named assistant vice president in 1983. 1 A / e’ll meet your needs ¥¥ for bankcard services, oan participations and quality investment portfolio recommendations. ki UN ITEDQMISSOURI BANK f Ç jf y ^ Member FDIC W yom ing News JACKSON: Jackson State Bank has recently promoted David R. Landis and Laurene W. Sinn to vice presi dents. In addition, Robert D. Mac United we grow together. 10th and Grand ° P.O. Box 226 Kansas City, Missouri 64141 (816)556-7000 3 POSITION AVA ILAB LE SENIOR VICE PRESIDENT— The individual will supervise all loan departments. Requires Bachelor’s degree plus minimum five years’ lending experience. Salary commen surate with experience plus excellent benefits. Excellent career opportunity. Contact: Steve Afdahl, President Hawkeye Bank and Trust, P.O. Box 4068, Spencer, Iowa, 51301. Member Hawkeye Bancorporatlon. Phone 712/262-1940. (PA) Ag Banking Specialists Let us help with your career advancement or staffing needs. Cali in confidence, without obligation. Employ ers pay our reasonable fee to hire the best. SENIOR AG LOAN O FFICER — with 5-10 years experience. Salary open. $24 million northeast Nebraska bank. Send resume to Bank of Elgin, R.K. Draper, Jr., President, Box 329, Elgin, NE 68636._______________________________ (PA) EXCELLENT CAREER opportunity with $40 million S.E. Iowa bank as Senior Lending Officer and second in com mand. Position requires a degree and a minimum of 5 years lending experience, with approximately 15 years total business experience, and a solid ag background. Some overall bank management and broad lending ex posure desired. Salary based on qualifications. A gener ous fringe benefit package is in place. Send resume to file W CJ, c/o Northwestern Banker. (PA) AG LENDING POSITION— Eastern Nebraska. Opportunity to work with experienced ag lenders in servicing large portfolio. Ag degree required. Experience helpful, but not required. Reply to file: WCK, c/o Northwestern Banker. (PA) SENIOR LOAN OFFICER AND ADM INISTRATOR— This individual will manage entire loan portfolio. Extensive com mercial and supervisory experience required. Extremely competitive salary and benefits. $125 million bank. Con tact: J.P. Mansfield III, Pres./CEO, United Central Bank & Trust, P.O. Box U, Ft. Dodge, IA, 50501. (PA) Small Northeast Iowa bank seeks LOAN O FFICER with two to five years general lending experience. We are seek ing a candidate with varied skills who is capable of many responsibilities. Salary commensurate with experience. Send resume to file WCL, c/o Northwestern Banker. (PA) CEO, 45, now serving as president of $60 million bank in metro area. Heads loan committee, and directs assetliability management. Twenty years banking experience. TO P references. COMMERCIAL LENDER, 38, a results-oriented profes sional with 17 years of diversified commercial lending and financial management experience. Extensive knowledge of credit analysis, loan administration, workout and loss control - and asset/liability management. CEO W A NTED — $10 million rural bank in Marion county Il linois. Must be strong in ag lending and documentation. Good salary and benefits. Write file WCF, c/o North western Banker. (PA) AQ LENDER— Position available for individual with ag lending background in $65 million bank in Grafton, ND. Ap plicant should have minimum of three to five years ag len ding experience and strong business development skills. Send resume to: President, Norwest Bank Grafton, N.A., P.O. Box 580, Grafton, ND 58237. (PA) Bankers Available CEO with 10 years commercial lending experience in $60 million bank. Graduate of ABA commercial lending school and working knowledge of current banking practices. Linda 515/394-5827 Jean 515/263-9598 (T/W/F) New Hampton, la. 50659 712/779-3567 (M/TH) I Massena, Iowa 50853 agncareers,inc. COMMERCIAL LENDER, 40, now responsible for commer cial, agricultural and real estate lending in $80 million bank. College graduate with additional degrees from ABA commercial lending school and ISU ag lending school. O F FERS 14 years intensive banking experience. A a COMMERCIAL LENDER, 37, now with $300 million bank; five years’ experience in large bank environment. Detailed knowledge of commercial and agricultural leasing. Good people skills, as well as both credit and operations. IN STALLM ENT MANAGER, 28, with 3 years’ college and five years managing $4 million portfolio of consumer, stu dent and floor plan loans in community bank. ^ FOR SA LE BURROUGHS EA2300 POSTING M ACHINE-CALCULA TOR. Excellent for small business. Phone 319/827-1050. (FS) REAL ESTATE APPRAISER Experienced real estate appraiser needed to su pervise operation of appraisal department and re view and critique appraisals on commercial real estate loans. Must be designated member or can didate for membership of either the Society of Real Estate Appraisers or the American Institute of Real Estate Appraisers and have 4 years ap praisal experience, including 3 years of commer cial experience. Send resume and salary require ments in confidence to: F.B. Bruner, Human Re sources Department, United Federal Savings Bank of Iowa, Locust at Fourth, Des Moines, Iowa 50308. (PA) Financial Careers AG LENDER, 34, with over 10 years’ experience and col lege degree in economics. Currently in charge of $11 million ag loan portfolio. Experienced in ag, commercial, real estate, consumer and student loans. Graduate of ABA Advanced Ag Credit School. We have many other applicants. Call or write Malcolm Freeland or Cy Kirk at Freeland Financial Service, Inc., 1010 Equitable Building, Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays reasonable fee. ^ LOAN W ORKOUT SPECIALIST Available on a temporary or an intermediate basis in an on line or advisory capacity for: • LOAN W ORKOUTS • LIQUIDATIONS • DOCUM ENTATION 22 years experience in acquisitions and liquidations, write: WBX c/o Northwestern Banker — All Replies Confidential — (PW) CEO for$17 million bank in M ontana___ Salary to $35,000 DO N ^ C H O O L E H In COMMERCIAL LENDER for $150 million bank in Midwest. Must be experienced in handling and documenting large credits. Prefer 10 years lending background....................... .......................................................................Salary to $45,000 AND W ) V) ASSOCIATES "Successful Banking is Quality Personnel" NUMBER TW O person for $40 million bank. Must have a strong ag lending background and college degree............. ............................................................................... Salary OPEN If you would like to be informed of positions as they become available and if you are interested in chang ing your present position, send your resume or phone Don Schooler, 417-682-2265, 2508 East Meadow, Springfield, Missouri 65804. Information on you will be kept confidential until you are inter ested in a specific position. NUMBER TW O officer for major community bank in cen tral Iowa. Requires ag/commercial loan experience and college degree. Excellent benefits...........Salary to $45,000 Eighteen years of banking serving as President of rural and metropolitan banks enables me to match you, technically and personally, with the right bank ing environment. TR U S T O FFICER for $60 million bank in college communi ty ................................................................... Salary to $32,000 AG OFFICER for $65 million bank in central Iowa. Requires bank experience and college degree___ Salary to $35,000 AG O FFICER for $40 million bank in southern Minnesota. Requires college degree and three or more years lending experience. High performance bank with $10 million in ag lo a n s .............................................................. Salary to $35,000 POSITIONS CURRENTLY AVAILABLE Missouri, Iowa Oklahoma, Kansas, Arkansas, Illinois, and Nebraska AG OFFICER for $30 million bank on lowa/llllnois line. Ex perience with bank or PCA required. Excellent recreation a re a ................................................................ Salary to $26,000 VICE PRESIDENT, COMMERCIAL LENDER, in a $150mm bank, (K ansas)......................... to $40,000 We have many other opportunities. Call or write Malcolm Freeland or Cy Kirk at Freeland Financial Service, Inc., 1010 Equitable Building, Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays reasonable fee. COMMERCIAL LENDER, $225mm bank, (Iow a ). . . ........................................................................... OPEN COMMERCIAL LENDERS, (Texas), $200mm bank ......................................................................to $40,000 ALL AROUND with AGRICULTURAL emphasis, 8,000 population................................................... mid$30,000 AG LENDERS •Need 2, S.E. Nebraska. $35K range. MARKETING - Degree. Need several years of banking or S&L experience in marketing. Omaha. $35-40K. AGRICULTURAL CREDIT AN ALYST Due to the growth and expansion of an agricul tural credit corporation, a credit analyst position awaits you. Responsibilities of this position in clude analyzing agricultural and agri-business credits. A bachelors degree in ag economics/business or related field plus 5-10 years ag banking ex perience. We offer a competitive salary and bene fits package. For confidential consideration send a complete resume with salary history to: IOWA BANKERS ASSOCIATION Liberty Building Human Resources Dept. 418 6th Ave. Des Moines, Iowa 50308 (PA) POSITIONS AVAILABLE SENIOR LENDER - $25MM rural bank affiliated with major holding company. Overall management experience with emphasis on Agrilending. Will become #2 within one year. ..............................................................................................$35K CEO - Southern Missouri bank of $25MM. Requires strong agriloan and administrative experience. Small community. ........................................ .................................................. $38K AGRILOAN - handle majority of Ag and some Instal. credits for$20MM community bank. Prefer degree. .. $24K CASHIER for a $50mm bank, 10,000 population close to c it y .............................................. to $25,000 COMMERCIAL LENDERS • Need 2. Degree. Need 3-5 yrs. of strong commercial lending. Des Moines. $30-35K. COMMERCIAL LENDER • suburban bank of $60MM located in large metro area. Position demands ability to generate new business and good analytical skills___ $30K PRESIDENT for a $30mm bank in small town close to c i t y ............... ......... ......................... to $45,000 CEO ’s - Need 5 in West Iowa & Eastern Nebraska. Degree or not. Several years of banking experience, including management. $50-70K range. SECOND OFFICER - medium size community bank. Prefer Agriloan and Operations background. Excellent recrea tional facilities nearby...................................................... $36K Call or send resume to: Additional opportunities available in midwestern states. AG LENDER, $95mm bank, 30,000 population, (Illi nois) ........................................................... to $35,000 SENIOR LOAN OFFICER, $60mm bank, 12,000 population ......................................$35,000-$40,000 EXECUTIVE VICE PRESIDENT, $40mm bank . . . . ..................................................................... $40,000 + Richard L. Beem, CPC GUM BERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 w TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Vol. 13 No. 32 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fif teenth 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 a
@FedFRASER