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Vol. 11 No. 32

Des Moines, Iowa

Northwestern National Economist Says:

Midwest Econom y Will Turn Around
N T ER EST rates will drop signifi­
cantly in coming months, and the
will be the catalyst needed to
turn the economy around, says Dr.
Sung Won Sohn, chief economist of
Northwestern National Bank of Min­
The economist
also predicted
that, even though
the general out­
look for the Up­
per Midwest is
“gray,” the ex­
pected drop in in­
terest rates will
help the regional
His predictions were made in con­
junction with the release of the 13th
semi-annual survey of 625 bankers
in the Twin Cities, northeastern
Minnesota and agricultural com­
munities in Iowa, Minnesota, Mon­
tana, Nebraska, North and South
Dakota and western Wisconsin.
“Today, the key to an economic
recovery is lower interest rates,” Dr.
Sohn said, adding that the declines
since last summer have already add­
ed $300 billion to the consumers’ net
“With additional cuts in interest
charges,” he said, “consumers’ finan­
cial positions will continue to im-

prove. But most important, the drop
will raise consumer’s confidence
levels causing them to use buying
and borrowing powers they have
built up thus far.”
Lower interest rates also will have
a more direct impact on consumer
spending because of flexible install­
ment loan rates and floating mort­
gage rates, Dr. Sohn stated.
In agricultural communities, he
said, huge crop inventories will pre­
vent meaningful improvement in the
farm economy in 1983. He added that
producers with heavy debt loads will
“struggle to survive, while diver­
sified operators, strong managers
and participants in next year’s
acreage-reduction program will hold
their own.
“The plight of the farmer has
been widely publicized,” Dr. Sohn
added, “yet our bankers indicate
that the vast majority of their cus­
tomers continue to be in sound fi­
nancial shape.”
He pointed out that the number of
farms going out of business during
the past year was quite small, aver­
aging about one percent. He said the
number of farms ceasing operations
next year is expected to be about two
percent, “still a very low figure.”
In northeastern Minnesota, siz­
able layoffs in the taconite industry

November 29,1982
and weak demand for wood products
continue to depress economic condi­
tions, Dr. Sohn said. He pointed out
that, although some taconite em­
ployees are being called back to
work, “the near-term outlook re­
mains poor.”
Half of the bankers surveyed in
northeastern Minnesota expect over­
all conditions to be worse in the next
six months. But, Dr. Sohn, added,
the pick-up in national economic ac­
tivities will eventually help the min­
ing industry, although there will be
“a substantial lag.”
The economist also predicted that
the Twin Cities area will recover
before any improvement is seen in
the agricultural and mining com­
munities. And, while a quick turn­
around for the metropolitan area is
not expected, further deterioration
“should be limited.”
“The Twin Cities area will be the
first in the region to benefit from
lower interest rates and increased
national economic activity,” Dr.
Sohn predicted.
The report of the Fall 1982 Re­
gional Economic Survey conducted
by Northwestern National shows a
loan-to-deposit ratio for all banks in
the seven states of 59.5%. Last spring
that ratio was 58%. The fall survey
of 1979 showed a ratio of 68.9%. All
surveyed banks reported an average
interest rate charged for operating
loans of 1 5 .7% . Am ong the
respondents, 44% said loans are

to make MNB work for you.
Toll free: 1-800-332-5991

nts National Bank m
F .D .I.C .
Federal Reserve Bank of St. Louis

A B A N K S O F IO W A ’ B A N K


Gariy Frandson

H o w did we g et to
be first in Iowa?
By putting
Iowa first.

•WWW* m •

« ill
Call (515) 245-3131 or toll-free (800) 362-2514
An Affiliate of Northwest Bancorporation

1 /




Member FDIC

higher than a year ago, while 23%
said lower. Also, 54% of the banks
said customers are repaying loans
slower, and only 2% said they are
repaying faster.
The respondents stated that in
the past three months 42% of them
denied loan requests more than nor­
mal, while 58% said about normal.
In regard to anticipated loan de­
mand for the next 12 months, only
11% expect higher loan demand for
machinery and farm equipment;
25% more for livestock; 48% more
for crop operating expenses; 21%
higher for non-ag loans, and a total
of 37% expect higher loan demand
for all bank loans.

Loomis and Gates Re-elected
To Kansas City Fed Board
Howard K. Loomis, president of
the Peoples Bank, Pratt, Kan., and
Charles C. Gates, chairman and pres­
ident of the Gates Rubber Co., Den­
ver, have been re-elected directors of
the Federal Reserve Bank of Kansas
Mr. Loomis, who has served on
the board since May, 1979, was op­
posed in the election by Roy P. B rit­
ton, president and chief executive of­
ficer of the Citizens State Bank and
Trust Co., Ellsworth, Kan.; and
Richard W. Ducic, president and
chief executive officer of the In­
dependent State Bank of Colorado,
A Class A director, Mr. Loomis

was elected by member banks with
capital and surplus of from $1 to $3
Mr. Gates was unopposed in the
election for his second three-year
term as a Class B director. Electing
him were member banks with capi­
tal and surplus of $3 million or more.
Both men will serve three-year
terms beginning January 1.
Mr. Loomis entered banking in
1963 and has been president of the
Peoples Bank since 1966.
Mr. Gates joined the Gates Rub­
ber Company in 1946. Between 1951
and 1960 he served as vice president
and executive vice president, and he
was elected president in 1961.

Iowa News
ADEL: Wayne Geadelmann, presi­
dent of Brenton State Bank and
Trust Company, has announced the
promotion of Ken Hykes to senior
vice president. Mr. Hykes joined the
bank in 1968, transferred to the Dex­
ter office in 1969 and was promoted
to manager of that office in 1971.
ALLISON: The State Bank of
Allison has announced the promo­
tion of Ronald Allan to vice presi­
dent. Mr. Allan, who joined the bank
in 1962, previously held the title of
assistant vice president.
D E S MOINES: Iowa-Des Moines
National Bank has received approv­
al from the Comptroller of the Cur­
rency to establish a branch office at

Single System Banking

Waterloo, Iowa 50704 Member FDIC
Federal Reserve Bank of St. Louis

D ES MOINES: The Federal Reserve
Board of Chicago has announced its
approval of the acquisition of State
Bank of Vinton by Hawkeye Bancorporation. The terms of the ac­
quisition, which in in exchange for
Hawkeye stock were not disclosed.
It is anticipated that the acquisition
will be completed by the end of the
fourth quarter. State Bank of Vin­
ton, with assets of $45 million, will
become Hawkeye’s 34th affiliate
E ST H E R V IL L E : Joseph R. Simmens has been appointed vice president, commercial and real estate
lending, at United Central Bank &
Trust Company. Prior to joining
UCB, Mr. Simmens was employed
by the State of Iowa, Department of
Banking, as an examiner for four
years. His most recent position was
executive vice president, Farmers
State Bank, Jesup.
LIVERM O RE: Dennis R. DeGroote
was recently elected executive vice
president and director of the Liver­
more State Bank. He replaces Rob­
ert L. Wilson, who passed away suddenly November 10. Mr. Wilson ap­
parently suffered a fatal heart at­
tack as the board was concluding its
November director’s meeting. Mr.
DeGroote has been employed at the
bank since 1975. A.C. Benton of
Hampton was elected president. In
addition, he is the chairman of the






Nebraska News
HASTINGS: The First National *
Bank recently announced the pro­
motion of Dan Finken to vice presi- a
dent, marketing. Mr. Finken joined
the bank in 1976 and in 1981 was
named the bank’s marketing officer.
MINDEN: The Comptroller of the
Currency has approved the application by The First National Bank of
Minden to establish a CBCT branch
at First Street & Highway 6 in Axtell.


Minnesota News

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

National Bank of W aterbo

the northwest corner of University
and 100th Street in Clive.

Phone Max Cory
at 1-800-772-2411.

A L B E R T LEA: Alger J . “A l” Knut­
son, longtime area banker, died re­
cently at Naeve Hospital at the age
of 66. Mr. Knutson began a long car­
eer in banking when he became cash­
ier at the Security State Bank in
Albert Lea. He joined the Marquette
National Bank in Minneapolis in
1954 as a loan officer and in 1960



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




We own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion:

General Obligation Bonds

December 1,1982



Both principal and semiannual interest (June 1 and December 1; first coupon due June 1,1983) payable at the
Office of the City Treasurer, Marshalltown, Iowa.

10 1/8 %
October 1,1984
10 1/4%
October 1,1985
October 1,1986
October 1,1987
7 1/4%
October 1,1988
7 1/2%
October 1,1989
7 3/4%
October 1,1990
October 1,1991













8 1/4%
October 1,1992
8 1/2%
October 1,1993
October 1,1994
October 1,1995
October 1,1996
October 1,1997
October 1,1998


‘ Callable on October 1, 1993 in inverse numerical order at 102.5% declining to 100.5%
The City of Marshalltown is located in the central part of Iowa about 49 miles northeast of Des Moines. Although agricultural production in
Marshall County is one of the highest of Iowa’s 99 counties, the excellent growth in industrial activity during the past few years within the City of
Marshalltown has established industrial and commercial activity as a predominant contributor to the city’s economic base. The largest in­
dustrial employees in the City are: Fisher Controls, valves, regulators, controls; Lennox Industries, Inc., heating and air conditioning pro­
ducts; Swift Independent Packaging Co., fresh pork products and Marshalltown Instruments, pressure and temperature measuring in­
struments. Transportation is provided by Chicago & Northwestern Railroad, State Highway 14 and several all-weather farm-to-market roads.
Commercial airline service is available in nearby Des Moines. Marshalltown has three commercial banks with total deposits exceeding
$212,987,000 and one savings and loan association with deposits exceeding $95,782,469.
These bonds are being issued to defray the costs of constructing necessary sanitary improvements within the City.

Actual Valuatlon, 1981
Assessed Valuation, 1981
Net Direct Debt, including this issue
Net Direct Overlapping & Underlying Debt
Population, 1980 estimate: 27,513
Net Direct Debt:
$522.12 per capita
Combined Net Debt: $616.30 per capita


The information 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 s till be available or may now be available at a price or yield different from that indicated above.
Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 11-29-82

where comm on transactions are handled uncomm only well.
13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C.

became president of the Twin Lakes
State Bank. In 1963 he was made
president of the First National Bank
of Alden and he retired from the
banking business in 1977. He was
active in banking association af­
fairs, serving as district represen­
tative to the Minnesota Bankers As­
sociation and president of the Free­
born County Bankers Association.
COON RA PID S: Roger Humóla
was recently elected vice president/manager of the Central North­
western National Bank-North. Mr.
Humóla joined the bank in 1980 as
assistant vice president.
D ETRO IT LA K ES: David Jones re­
cently began as vice president in
charge of operations at First Na­
tional Bank of Detroit Lakes. Mr.
Jones came to Detroit Lakes from
Nisswa where he was president of
the Nisswa State Bank.
EDINA: First Bank Edina has
elected Herbert J . Wogsland chair­
man and Steven D. Gregerson presi­
dent, effective January 1, 1983. Mr.
Wogsland, who had served as presi­
dent of the bank since 1979, con­
tinues as chief executive officer. Mr.
Gregerson is currently president of
First Bank White Bear Lake. Suc­
ceeding Mr. Gregerson as president
at White Bear Lake will be Edward
L. Kalafat, senior vice president and
group executive for First Bank Sys­
tem’s Minnesota North Group.

of Minneapolis has approved the ap­
plication by Emery Security Bancorporation, Inc., to become a bank
holding company through the acqui­
sition of the Security State Bank,

North Dakota News
LIDGERWOOD: First Bank Lidgerwood has elected Arvy J . Larson
president, effective December 1. Mr.
Larson succeeds Virgil Eckhoff who
recently resigned. Mr. Larson is cur­
rently vice president and senior loan
officer of First Bank E ast Grand
Forks, Minn., where he has been as­
sociated since 1966, most recently
as vice president.
MANDAN: M SB Holding Co., Inc.,
Bismarck, recently received approval
from the Comptroller of the Curren­
cy to become a bank holding com­
pany through the acquisition of the
Mandan Security Bank.

Montana News
ANACONDA: Don Clark has been
elected senior vice president and
senior credit officer of First Security
Bank of Anaconda. Mr. Clark, who
has been with the bank since 1972,
was elected to the board in 1981 and
has served as vice president in
charge of the commercial loan de­
partment for several years. He has
also been serving as chairman of the
officers and directors credit commit­

MINNEAPOLIS: Northwestern Na­ BILLIN G S: Patrick L. Hogan has
tional Bank has moved its corre­ joined First Northwestern National
spondent banking department to the Bank as vice president and manager
12th floor of the Cargill Building, as of the loan servicing center. Mr.
of November 1. The address and Hogan previously worked for 18
telephone numbers will remain the years for the Comptroller of the Cur­
rency, most recently as an examiner
in charge of the Billings sub-region.
National Bank has promoted Dale CHOTEAU: R.W. Gronberg, who
Jorgenson to vice president and has been with the Citizens State
trust officer. He will manage the Bank since 1940, has sold his in­
bank’s administrative and opera­ terest to Duane S. Amundson of
tions areas of the trust department. Plentywood, and Lloyd A. Amund­
Prior to his promotion, Mr. Jorgen­ son of Sioux Falls, South Dakota,
son held the position of manager of along with a group of investors re­
the depositor services division of presented by the Amundsons. The
F&M Savings Bank before the mer­ Amundsons have controlling inter­
est in the Montana National Bank of
Plentyw ood, C ulbertson S ta te
South Dakota News
Bank, and other banks in Min­
ER Y: The Federal Reserve Bank nesota, South Dakota and Michigan.
Digitized forEM
Federal Reserve Bank of St. Louis

M ISSOULA: C. Robert Paciotti,
former executive vice president and
chief executive officer of the First
National Bank of Marinette, Wise.,
has been named president of Mis­
soula Bank of Montana, as of No­
vember 15. He began his banking
career as an assistant national bank
examiner in the United States Trea­
sury Department, where he worked
in all areas of commercial bank ex­
amination. In 1974 he joined the
Marinette bank as vice president.

Wyoming News
CASPER: Wyoming National Bank
of Casper has named Robert Hays
president and chief operating officer
effective January 1. Robert W. Mir­
acle, bank president, who has been
both chief executive and chief oper­
ating officer since 1968, was named
vice chairman and will remain as
chief executive officer, and at the
same time will continue to serve as
president and chief executive officer
of the Affiliated Bank Corporation
of Wyoming. It was also announced
that Robert Noel has been elected
executive vice president of ABC.
Mr. Hays has served as president
and chief executive officer of the
Ruidoso State Bank, New Mexico,
since 1978. Mr. Noel was formerly
president and chief executive officer
of the F irs t Wyoming BankCheyenne.
LA RA M IE: John W. Easterbrook
has been appointed senior vice presi­
dent of First Wyoming Bank N.A.Laramie. First Wyoming Bank is
under contract to be purchased by
American Bank Corporation. Mr.
Easterbrook is the proposed presi­
dent of the American National Bank
of Laramie upon consummation of
the sale.

Colorado News
Echtermeyer has been named presi­
dent and chief administrative officer
of IntraW est Bank. Mr. Echter­
meyer joins the bank from United
National Bank Corporation of Yank­
ton, S.D., where he served as vice
president since 1979. Prior to join­
ing the corporation he was vice pres­
ident and executive vice president of
American State Bank of Yankton
for 14 years.

Supplement to Northwestern Banker Newsletter 11/29/82

James Neuroth, left, senior vice president of First Bank Albert Lea (Minnesota), employed
Robert Hoebelheinrich, right, in late 1981 through AGRIcareers. The young man had acquired ag lending experience in South Dakota and was willing to relocate.

Banking personnel specialist Linda Heit
worked with the Albert Lea bank in locating
and selecting a qualified employee.

Liked The W ay Resum es W ere W ell Screened
When James Neuroth, Senior
Vice President of First Bank Albert
Lea (Minnesota), started looking
for a new ag rep recently, he tried
locally, had no success, then con­
tacted three personnel firms for
“ What I liked about AGRIcareers
was that they didn’t send me a hun-

“What I liked about AGRI­
careers was they didn’t send
me a hundred resumes.”
— James Neuroth
Senior Vice President
First Bank of Albert Lea
dred resumes. They sent several,
and all of them fit the qualifications
we were looking for,” says Neuroth.
He hired Robert Hoebelheinrich,
who has since been promoted to ag
lending officer.
The south central Minnesota
bank is part of the First Bank Sys­
tem, and footings total $57 m illion.
Loans to farmers totals $5 m illion
and volume is growing, managed
by Hoebelheinrich under Neuroth’s
Federal Reserve Bank of St. Louis

The new employee has a degree
in business adm inistration, grad­
uating in 1980 with a major in ac­
counting, and came to the job from
an ag banking position in South
Dakota. He grew up on a Nebraska
“ The demands on ag lending are
changing,” observes Neuroth. “ We
have to become more knowledge­
able about agriculture. The mar­
gins in farming are narrow; there’s
not much room for error.
“ The farmer can’t price the pro­
ducts he sells, so forecasting in­
come and sticking to a budget are
very important. The lender has to
be careful not to encourage a bor­
rower in the wrong direction.”
Continues the Minnesota bank­
er, “ Ag lending isn’t as much fun
as it was five years ago. The ratio

SINCE 1968
NEW HAMPTON, IA 5 0 6 5 9
MASSENA, IA 5 0 8 5 3


dCin C AR EER S, IN C .

of failures to successes is less
favorable. Failures are painful and
can use up a lot of tim e.”
Neuroth felt it was important to

“Ag lending isn’t as much fun
as it was five years ago.”
— James Neuroth
employ a qualified person, and
four candidates were interviewed.
“ It was helpful to find a man with
Robert’s qualifications who was
w illing to relocate,” commented
AGRIcareers was extremely help­
ful, and worked closely with us. Re­
ceiving screened applicant resu­
mes saved us tim e.”
Neuroth worked directly with
AGRIcareers’ personnel specialist
Linda Heit. He had learned of the
personnel firm through an ad in the
Northwestern Banker newsletter.
The placement fee charged by
the several personnel firm s con­
tacted was about the same, ex­
plained Neuroth. What got his at­
tention about AGRIcareers was the
120-day employee guarantee.

The Ag B anking S p e c ia lis ts S ince 1968

Bankers A vailable
It costs no th in g to see if the banker we
recom m end is be tte r than the one you can
fin d on your own.
Now candidates from throughout the nation.
BANKING...P.C.A. branch manager responsible for $11 million
in loans. Stable individual (11 years with PCA), record of credit
quality and presents himself well. B.S. Ag. Lives IA. Age: 37.
$24-30,000. Call Linda at 515-394-5841.
AG CREDIT...Has 12 years experience working for PCA in Kan­
sas. Started out as ag loan officer and was promoted to senior
vice president four years ago. Currently in charge of five
branch offices in 17 counties. Is experienced in accounting and
public relations as well as loans and financial analysis, real
estate, personal and chattel loans, also has some sales ex­
perience. His current supervisor says “He is very dependable
and trustworthy.” B.S. Ag. Married. Age: 42. Lives KS. $35,000
plus. Call Georgia at 712-779-3745.
bank vice president responsible for agricultural and commer­
cial loans of $22 million. Still employed by the bank he started
with 12 years ago. Supervises staff of five employees. B.S.
degree. Married. Lives MN. $30-35,000. Call Linda at
BANK TRAINEE...Licensed in insurance lines, Ag Business
degree, sales experience, dresses well (three piece suit), farm
background. Sharp, personable and willing to start at $12,000.
Single. Age: 22. Lives MN. Call Linda at 515-394-5841.
CREDIT...Three years experience as manager of a consumer
loan office. Strong farm background and ag related degree.
Has the credit experience and wants to combine his farm
background and college training in an ag loan area. B.S. Ag.
Married. Age: 25. Lives IA. $14,000. Call Georgia at
AG LENDING...Customer oriented ag loan officer with a proven
record of writing quality loans. Responsible for 4 million
volume. Promotional minded individual; has taken sales
oriented courses and enjoys prospecting for new accounts. In­
terested in banking position in larger community. Plans to ob­
tain insurance licenses. High caliber young man who’s manner
inspires confidence. B.S. Ag Business. Single. Age: 24. Lives
IA. $22,500. Call Sherry at 712-779-3677.
AG FINANCE...PCA loan officer servicing a 7 million general
portfolio. References say, “First class...a natural feel for ag lending...excellent public recognize his ability
and respect his opinion..;he’s on his way up!” Worked in the
teller line in a small bank before moving into loan work. Holds
major insurance line coverage. Recruited 19 new members in
an 18 month period. B.S. Ag Economics/Farm Management.
Married. Age: 26. Lives IL. $25,000. Call Sherry at 712-779-3677.
ADMINISTRATIVE FINANCE...V.P. of Administration and
Finance with a major ag lending cooperative for the past four
years, and four years of previous experience in direct lending.
Supervises operations, financial planning, insurance services
and marketing, and overseas management of $50 million in
loans. References praise his performance and character. B.S.
in Ag Administration. Married. Age: 30. Lives IA. $40,000. Call
Sherry at 712-779-3677.

Bankers Needed
" Never A Fee From An Em ployee”
FARM REPRESENTATIVE...Eastern Iowa bank seeks person to
call on farmers developing new business, supervise two
women in motor bank and be active in community affairs.
Large, growing bank in a small town. Seek sales oriented per­
son with credit experience. $20-$25,000. Call either office.
V.P. & AG LOAN OFFICER...Responsible for farm loans in a
dairy and hog area of northeast Iowa. Seek 5-10 years of suc­
cessful ag loan experience with PCA, Land Bank or bank. Col­
lege town. $27,000. Call either office.
VICE-PRESIDENT...Major Iowa bank seeks person to work with
other bankers in ag loans...some commercial. Five or more
years of ag banking or PCA experience required. Ag degree.
Need to be able to communicate well and dress well. Employer
says, “Don’t send me any slouches.” $30-$40,000 with upward
mobility. An opportunity worth calling about.
COMMERCIAL LOAN OFFICER...Handle business loans for
bank in eastern Iowa town. Needs commercial loan ex­
perience. Located in smaller town near city. Degree. Salary
open...probably $15-$20,000.
P.C.A. BRANCH MANAGER...Supervise one loan officer and
one clerical in southern Iowa branch with $9 million loans.
Management experience, rural background and two or three
years of lending experience. $24,000. Call either office.
FARM R EP R E SEN TA TIVE ...H andle farm accounts...
maybe some insurance work. Central Iowa. Small town. Ag len­
ding required. Insurance helpful. $16-$20,000. Call either office.
VICE PRESIDENT/CASHIER...Ag loans and operations. Mature
individual with ag loan and insurance experience. Small
eastern Nebraska town. $18-$20,000. Call either office.
AG LENDING OFFICER.Jn charge of ag lending for Min­
nesota bank located on edge of Red River Valley. $24,000 for
well qualified individual. Less for less qualifications.
2ND MAN...Western Minnesota bank seeks person to han­
dle ag, commercial, and installment lending plus insurance.
Related experience helpful. $15-$17,000. Call either office.
AG LENDING OFFICER...Make ag loans, farm calls mostly
but some operations and insurance for small town bank in
northern Iowa. $20,000 or more.
AG LOAN OFFICER/INSURANCE...50% of time in ag loans
and 50% handling insurance. Related experience required.
Small northeastern Nebraska town. $15-$25,000. Call either


Highways 18 & 63 South
Highways 148 & 92 West
New Hampton, Iowa 50659
Massena, Iowa 50853
(51 394-3145
(712) 779-3744


Serving the Nation From Two Iowa Locations
Federal Reserve Bank of St. Louis


Electronic Banking Card Issuers:


Recent changes in the Code of Iowa, Chapter 527, has made Regulation E disclosure forms
that refer to “deposits made at Satellite terminals” obsolete.


As of July 1,1982, customer deposits to checking and savings accounts are not restricted to
satellite terminals within or contiguous to the county in which your bank maintains its principal
place of business.


Furthermore, if you have not been providing a shortform error resolution notice on, or with,
each periodic statement, Regulation E requires you to send an error resolution notice to each
account at least once each calendar year. The requirement applies to each account from
which, or to which, electronic fund transfers can be made.




Although recent changes do not affect Regulation E disclosure forms covering pre­
authorized debits and credits only, if your bank’s assets exceed $25 million on December 31,
1981 — Regulation E requires you to send an error resolution notice to each account at least
once each calendar year. The requirement applies to each account from which, or to which,
electronic fund transfers can be made.

Hurry! Disclosures must be sent to your customers before
December 31,1982.




To place your order for Regulation E disclosure forms, please complete the following:

For Electronic Banking Card issuers:
Form (A) This disclosure covers all transactions initiated
by electronic means, including preauthorized
debits and credits, automated teller services
and point-of-sale services. Revised to reflect
changes in Chapter 527 Code of Iowa which
became effective July 1, 1982.
$60.00 per 1,000 forms (plus 3% sales tax)
For Non-Issuers of Electronic Banking Cards:
Form (B) This disclosure covers pre-authorized debits
and credits only. Applies to banks with assets
exceeding $25 million on December 31,1981.
$40.00 per 1,000 forms (plus 3% sales tax)
-------------------- check is enclosed
-------------------- please bill us on shipment


Mail to: Northwestern Printing & Publishing Co.
306 Fifteenth Street
Des Moines, Iowa 50309
Federal Reserve Bank of St. Louis

Please place my order
for the Regulation E Disclosure form.
Form (A)--------Form (B)_____

Minimum order 1,000 of either form.
Must order in units of 1,000.

Bank________ _______________________________ ___
Address __________________________________
City_______________ State___________ZIP _________
Officer___ ____________________________
NOTE: Remember to enclose your bank name or logo with the
main bank phone number.


Rates are $5.00 per line per insertion. Add
$3.00 for file letters per insertion. Identity
of file letter advertisers cannot be revealed.
306 - 1 5th Street
Des Moines, Io w a50309
Phone 515/244-8163

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.)



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. W ill have some exposure to commercial
lending also. Excellent benefits. Salary commensurate to
experience. EOE. Send resume to file RBF, c/o North­
western Banker.
DES MOINES BANK seeks operations and control officer.
Applicant w ill immediately assume supervision of book­
keeping and teller functions responsible to Cashier. Can­
didate should have a minimum o f 3 years experience.
Technical and people skills important. Write file RBK, c/o
Northwestern Banker.
Major correspondent bank seeks tw o persons for travel in
upper midwest states; three-four years banking exper­
ience essential; credit background preferred. Also need
one person w ith bond sales experience to work w ith cor­
respondent banks. Write file RBL, c/o Northwestern
SECOND OFFICER—for a commercial bank In western
Nebraska. Must have operational as well as credit ex­
perience. Agricultural background helpful. Excellent
salary and fringe benefits. Send resume and snapshot, in
complete confidence to: Dave Doll, Box 209, Ogallala,
Nebraska 69153.

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

Are you an aggressive, outgoing and personable individual
w ith 3 to 5 years of experience in bank indirect dealer
financing, and can supervise employees? Then our NW Illi­
nois Bank would like to interview you for employment. We
can offer you excellent working conditions, liberal fringe
benefits and opportunity for advancement. EOE employer.
Send your resume to file RBM, c/o Northwestern Banker.(PA)

Number Two Person for Nebraska com munity bank. Re­
quires knowledge of operations/ag le n d in g ........................
.....................................................................Salary to $28,000

#2 MAN—Handle operations duties & assist with Ag. Credit
Loans. In $25 million rural bank. Mall resume to: Box 477,
Hampton, IA 50441.

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

Commercial Lender w ith eight years of experience in $100
m illion 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 w ith excellent production and manage­
ment re c o rd .........................................................Salary open
Bank Examiner w ith eight years of experience. Strong in
loan analysis...................................................................Salary $30,000
Marketing Executive w ith operations background..............
..................................................................... Salary negotiable
Strong Second Man in community bank seeks new oppor­
tunity ................................................
Salary $32,000
Ag Lender with ag degree and lim ited experience..............
............................................................................Salary $16,000
Cashier with college degree and four years experience . . .
............................................................................Salary $23,000
Senior Ag Lender with college d e g re e ........ Salary $32,000
Number Two banker w ith extensive lending and opera­
tions experience .........................................................$35,000
Write or call Malcolm Freeland, Freeland Financial Ser­
vice, Inc., 1032 Carriers Building, Des Moines, Iowa 50309.
Phone 515/282-6462. Employer pays fee.

Commercial Lender for major Iowa bank . Salary to $38,000
Office Manager for major western Iowa b a n k ....................
...........................................................................Salary $25,000
Operations person for $35 million bank in major Iowa city .
......................................................................Salary to $25,000
Strong Ag Lender for $40 million 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

Does an airline flight attendant’s ap­
pearance impress you? Call us today
and find how your tellers can do the
same to your customers.


Write or call Malcolm Freeland, Freeland Financial Ser­
vice, Inc., 1032 Carriers Building, Des Moines, Iowa 50309.
Phone 515/282-6462. Employer pays fee.

523 N. Main St„ Carroll, Ia„ 51401 712-792-2748


All positions are in Missouri, Kansas, Arkansas or Oklahoma
Executive Vice President, $60mm bank, over 100,000



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

Estate Appraisals
Purchase of
Sale of Rare Coins
Reliable and respected service
for over 20 years
Used by bankers
throughout the midwest

Ben E . Marlenee
913 Locust
Des Moines, Iowa 50309

Cashier, $30mm bank, 10,000 population


Executive Vice President, Loans, $25mm bank, under
10.000 population
to $30,000
Vice President, #3 man, Chief Lender, $60mm bank, 10,000
to $35,000
Agricultural/Commercial Lender, $40mm bank, under
LENDING/INSURANCE—excellent opportunity in $25MM
10.000 population
to $27,000
rural bank. Handle Ag-credits and assist in general opera­
tions of insurance agency.
Agriculture Lender, $30mm bank, under 10,000 population
to $28,000
PRESIDENT— Rocky Mountain area. Strong Ag-lending
Commercial Dept. Head, Senior Vice President, $250mm
background and knowledge of operations desired. Invest­
bank; 300,000 population
to $75,000
ment possible.
$30,000 +
President, $60mm bank, 45,000 population suburb
CORRESPONDENT OFFICER—travel southern Missouri
to $55,000
and Arkansas for major midwestern bank. Degree and
previous correspondent experience required.
President, $4mm bank, under 10,000 population
Commercial Lender, #2 Position, $40mm bank, 45,000
population suburb
Commercial Lender, Vice President, Billion Dollar bank,
over 300,000 population
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 will 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.


"Successful Banking is Quality Personnel"

AGRI-LOAN—join $20MM dept, w ith opportunity to
manage same in tw o years. Ag Degree and five years or
more Ag-lending experience desired.
CASHIER— handle operations duties and assist w ith Agri­
credits in $25MM rural bank. Insurance licenses a plus.
COMMERCIAL LOAN—suburban bank w ith m ajority of
portfolio in life m anufacturing and retail businesses.
Degree preferred.
SECOND OFFICER—rural bank heavy in Ag-credits.
Record of com m unity involvement and some knowledge of
operations required.
$27,000 +
A ll inquiries confid e n tial.
quirements requested.

Resume' and



of Kansas City
2024 Sw ift - Box 12346
North Kansas City, MO 64116
“Serving the Banking Industry Since 1970”

Vol. 11 No. 32 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.
Federal Reserve Bank of St. Louis