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Vol. 16 No. 30 Des Moines, Iowa November 9,1987 progress had been made with the lat ter. The Senate’s S.1165 requires leaders apparently felt this bill that any mergers be approved by a would do ju st that. Any opposition majority of the stockholders and by disappeared and the unanimous the Farm Credit Administration. vote, with advance favorable com Also included in the Senate bill is ments from many Senators, indi language considered by some to be cated it would meet with Senate ap vague in trying to outline new and proval. Since H.R. 3030 passed by strengthened rights for FmHA bor the overwhelming m ajority of rowers. 365-49 early in October, a similar As described earlier, the new se overwhelming vote in the Senate condary market organization, being would almost assure the conference referred to already as Farmer Mac, committee bill being signed by the would provide 90% of the guarantee President. Senate Ag Chairman on the secondary market securities, Patrick Leahy (D., Vt.) said the FCS represented by a $1.5 billion line of rescue bill was considered “must credit from the Treasury. However, legislation” by the Senate. the poolers of those securities, repre S.1165 would authorize the FCSsenting farm mortgages purchased to offer up to $4 billion in 15-year, from lenders, would be putting up federally guaranteed bonds through 10% of the capital and that 10% in 1991, with up to $3 billion of the in all cases would have to be used up terest paid by the U.S. Treasury. before any access is ever made FCS already has lost $4.8 billion against the Treasury backing. since 1985 and has stated it could The Senate bill provides that dur lose another $6 billion in the next ing the first year, upon enactment of half dozen years. New figures were the bill, the secondary market agen due to be released by FCS last week cy could issue up to 2% of Farm after press time for this issue. Credit System mortgages outstand The Senate measure would let the ing, pegged at $80 billion. This Farm Credit System banks deter would authorize a $1.6 billion mar mine how to restructure themselves. ket the first year. The second year The House-passed bill would reorga that would move to 4%, or $3.2 bil nize the 37 regional bank units into lion, and the third year to 8%, or seven so-called service centers. A $6.4 billion. If the Federal Agricul high official said he was doubtful tural Mortgage Corporation takes a about whether the Omaha Federal year to get organized, it would then Land Bank could survive, and start right off with the 4% level, wasn’t certain whether the St. Paul since the bill stipulates the limits bank could pull through, although date from enactm ent of the bill. □ FC S Rescue, Secondary M arket Proceed ARRING an unforeseen obsta B cle, the Farm Credit System res cue bill should proceed favorably through the Senate in the near future and then go into a conference committee with the House, which earlier passed its bill as H.R. 3030. The Senate ag committee approved S.1165 unanimously last week (18-0) and sent the bill to the Senate floor. Like the House version, S.1165 con tains the provision to establish a Federal Agricultural Mortgage Cor poration to provide a secondary market for long-term farm real estate loans. This secondary market, operated through FCS channels, would be equally available to com mercial banks and life insurance companies, as well as the FCS. Senate leaders said last week they would schedule a floor vote on S.1165 as soon as possible. It was hoped it would clear the Senate floor favorably in the two weeks left before Thanksgiving so the confer ence committee could iron out any differences. Senate leaders were reported last week to be looking already at dates that could be ar ranged for a conference committee. The “Black Monday” Wall Street scare and subsequent turbulent days in the market apparently gave added impetus to the bill. The un settling news from Wall Street em phasized the need for more settling news in the markets, and Senate After more than 120 years of providing correspondent banking services to the Midwest, you can say we’ve had a chance to polish our trade. Find out for yourself. Count on Commerce. 1800 892-7100 1800 821*2182 - * https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * * (Outside Missouri) tu t Commerce Bank *35^ of Kansas City MkH Norwest Bank Des Moines, N.A. mmuum NORW ESr BANKS mmmum Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC mm^mm Teamwork: one of the reasons we're first in Iowa. STATEMENT OF OWNERSHIP MANAGEMENT AND CIRCULATION (Required by 39 U.S.C. 3685) (also DMM 448.31) W L ?¥ John Rigler Mark Conway Iowa News The Iowa Bankers Association will present “Compliance in the Fi nancial Industry: The Most Danger ous Violations” at three locations in December. Instructor will be consul tant Gary Throckmorton. Registra tion is at 8:30 a.m. and the seminar runs from 9:00 until 4:00 with a noon lunch. Advance fee is $145 for mem bers, $180 for subscribers and $220 for non-members, with $20 addi tional required for registration at the door. The fee includes lunch. Dates and locations are: 8th—Ironmen Inn, Coralville, 9th—Marriott Hotel, Des Moines, 10th—Siebens Forum, Storm Lake. Contact the IBA office to register. CEDAR RAPIDS: Thomas R. Cover has been named senior vice president/retail division at Mer chants National Bank. He previous ly served as vice president and re gional operations administrator for southern Minnesota for First Bank Systems. Prior to th at he was em ployed by Security Banks of Mon tana, Billings, and First National Bank, Omaha. DES MOINES: Tim Rhoades has been named office manager for Brenton National Bank of Des Moines, northwest office. He previously held a supervisory position for United Federal Savings Bank in Ames. GILMAN: John Viggers has joined the Citizens Savings Bank of Gil man as a management trainee. SIOUX CITY: A t Security National Corporation, R.E. (Gene) Hagen was elected chairman of the board, to re place E.C. Thompson, who is step ping down from this position but will continue as a director. WATERLOO: John Rathjen has joined Peoples Bank and Trust Co. of Waterloo as vice president, com mercial loans. He previously served as a commercial lender at Adams Bank and Trust in Ogallala, Neb. South Dakota News M N B C orrespondent Banker Together We Can Accomplish Great Things SIOUX FALLS: Truman D. Phelan has been promoted to executive vice president for Norwest Bank South Dakota. He has been with the hank since joining Norwest in 1966, most Strength of Eastern |owa_^ Merchants National Bank m A BANKS OF IOWA BANK 1. Title of publication — Northwestern Banker Newsletter. 2. Date of filing — October 26, 1987 3. Frequency of issue — Weekly. 3b. Annual Subscription Price — $8.00 4. Location of known office of publication (Not printers) — 1535 Linden St. #201, Des Moines, Iowa 50309. 5. Location of the headquarters or general business of fices of the publishers (Not printers) — 1535 Linden St. #201, Des Moines, Iowa 50309. 6. Names and complete addresses of publisher and editor and managing editor — Editor and Publisher — Ben Haller, Jr., 1535 Linden St. #201, Des Moines, Iowa 50309. 7. Owner (If owned by a corporation, its name and ad dress must be stated and also immediately thereunder the names and addresses of stockholders owning or holding 1 percent or more of total amount of stock. If not owned by a corporation, the names and addresses of individual owners must be given. If owned by a partnership or other unincorporated firm, its name and address, as well as that of each individual must be given). Ben Haller, Jr., Presi dent, 1535 Linden St. #201, Des Moines, Iowa 50309. North western Banker, 1535 Linden St. #201, Des Moines, Iowa 50309. 8. Known bondholders, mortgages, and other security holders owning or holding 1 percent or more of total amount of bonds, mortgages or other securities: Ben Haller, Jr., President, 1535 Linden St. #201, Des Moines, Iowa 50309. 10. Extent and nature of circulation: Average No. Actual No. copies each of copies of issue during single issue preceding nearest to 12 months filing date A. Total No. copies printed 3,500 3,400 (Net Press Run) B. Paid Circulation 1. Sales through dealers and carriers, street ven dors and counter sales NONE NONE 2. Mail Subscriptions 3,014 2,972 C. Total paid circulation 3,014 2,972 D. Free distribution by mail, carrier or other m e anssample, complimentary, and other free copies 262 267 E. Total distribution (Sum of C and D) 3,276 3,239 F. Copies not distributed 1. Office use, leftover, unaccounted, spoiled after printing 224 161 2. Returns from news agents NONE NONE G. Total (Sum of E, F1 and 2—should equal net press run shown in A) 3,500 3,400 11.1 certify that the statements made by me above are correct and complete. BEN HALLER, JR. Editor and Publisher 12. For completion by publishers mailing at the regular rates (Section 132.121, Postal Service Manual). 39 U.S.C. 3626 provides in pertinent part: “ No person who would have been entitled to mail matter under former section 4359 of this title shall mail such matter at the rates pro vided under this subsection unless he files annually with the Postal Service a written request for permission to mail matter at such rates.” In accordance with the provisions of this statute, I here by request permission to mail the publication named in Item 1 at the phased postage rates presently authorized by 39 U.S.C. 3626. Ben Haller, Jr., Editor and Publisher A Meeting Of The Minds. At Security National Bank, our minds are on meeting all your Correspondent Banking and Investment needs. We’re Security for you! Call 319-398-4320 or toll free 1-800-332-5991 Cedar Rapids. Iowa 52401 Member F 0 1C https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis recently as Region VI senior credit officer. Wilma Weeks Richard Kunz Correspondent Services Officer 712- 277-6769 SECURITY NATIONAL BANK IN SIOUX CITY, IOWA. MEMBER F.D.I.C. Investment Representative 712- 277-6522 U.S.A. won the Olympics Amelia E arhart becam e the first female pilot to cross the A tlantic Ocean and U nited M issouri opened its Investm ent Banking Division. United Missouri Bank announced Investment Banking Services in ’28. It didn’t make national headlines. It did make a difference. Since then, United Missouri has helped thousands of banks build their investment portfolios. It has done it by thoroughly analyzing the market, skillfully weighing yield versus risk and carefully avoiding inappropriate investment strategies. As a result, United Missouri customers have consis te n tly experienced positive results thro u g h years of economic change. Tbday, United Missouri’s Investment Banking Division still makes a difference. It can make a difference for you. Call United Missouri concerning your bank’s investment portfolio. And, pick the proven performer. lb U N ITE D M ISSOURI B ANK of Kansas C ity n.a. Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis £ m jr * P.O. Box 419226, Kansas City, Missouri 64141-6226 816-556-7200 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IOWA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HAVE YOUR PREMIUMS SKYROCKETED? We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM! CALL OR WRITE IOWA BANKERS INSURANCE AND SERVICES, INC. 104 EAST LOCUST STREET DES MOINES, IOWA 50308 1-800-532-1423 or (515)286-4344 KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TOPEKA, KANSAS 66601 (913) 234-2631 SOUTH DAKOTA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? Are you FORCED to write one type of insurance with a company at a higher premium, just so they will write another type of policy for you? IF SO... PLEASE CONSIDER THIS We have been solving Bankers bonding problems for over 75 years . .. AND AT THE LOWEST POSSIBLE PREMIUM CALL OR WRITE KANSAS BANKERS SURETY COMPANY P.O. BOX 1654 TOPEKA, KANSAS 66601 (913) 234-2631 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OWNED BY BANKERS SERVING BANKERS ‘ The Farm Tax Saver Newsletter Editor Trenna Grabowski CPA, Farmer On the cutting edge FARM TAX of cutting taxes for as little as 29è W e’ll im prin t you r firm ’s lo g o on th e FARM TAX SAVER m on th ly n e w s le tte r and y o u ’ll g e t th e c re d it for c u ttin g you r farm c lie n ts ’ ta x e s . Every m onth remind your farm clients th a t your firm is always there with top-notch service and fresh ideas □ Send me a free issue of the FARM TAX SAVER □ Fd like to know about bulk subscription investm ent levels □ Send information regarding logo imprinting and newsletter delivery https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis your name, firm _____ address phone Return this card to FARM TAX SAVER Farm Progress Cos. 580 WatersEdge Lombard, IL 60148 312/953-1100 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FirsTier Correspondent Services iilJ.m .JM f y |JLLJJ|Jj ^ ^ ^ p lujji:oÆ M P .1.ri11 Æ^ M ' 3 More o f what it takes to serve you well. ... . FirsTier. B anks Lincoln • Omaha FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC Nebraska News BANKING "Professional assistance in hiring BRADSHAW: Mark V. U tter has and career advancement" been named vice president and ^branch manager of The First Na tional Bank of York—Bradshaw branch. He had been a loan officer with the Farm Credit System in quality service by experienced professionals Scottsbluff as well as FCS in Gil l e t t e , Wyo. 525 Merle Hay Tower Jean Eden NORFOLK: Bernard M. DeLay, 515 276-1151 Des Moines, Iowa 50310 chairman of the DeLay First Na 515-276-1151 tional Bank & Trust Co. of Norfolk, Confidential. Fees Paid by Employer. died October 20 following surgery. 0H e was 76. elected John T. Thornton executive and R. Bradley Pike, high tech leas vice president, chief financial officer ing, special industries group. Colorado News and controller. He was senior vice FOUNTAIN: The FDIC has ap- president and controller. Before 0 proved the assumption of the de joining Norwest, Mr. Thornton was North Dakota News posits and fully secured liabilities of vice president and controller of BISMARCK: George Neigum has Pioneer Bank of Fountain by Green Texasgulf, Inc., based in Stamford, been promoted to senior vice presi Mountain Bank, Lakewood. The $11 Conn. dent in charge of loans at Bismarck million asset Pioneer Bank was MINNEAPOLIS: First Bank Sys State Bank. He joined the bank in % closed on October 21 and its sole of fice reopened the next day as a tem, Inc. has announced four promo 1984 as a consultant and was pro branch of Green Mountain Bank. tions to vice president in its metro moted to vice president and loan of The latter bank will assume about politan division: Richard A. Hoban, ficer in 1985. Judy Greff has been $10.4 million in deposits and will special loans, loan portfolio manage promoted to vice president and man purchase $ 10.6 million of the failed ment; Bruce A. Lilly, upper Midwest ager of the downtown office. She bank’s assets at a discount of $ 1, division, corporate banking; Thomas joined the bank in 1980 and most A. Patterson, communications in recently was assistant vice presi 065,000. dustries, special industries group, dent and manager of that office. - Minnesota News RAINERD: The board of directors of First Bank Brainerd has elected Lee R. Mielke chairman of the board and Darold L. Owens president and _chief executive officer. Mr. Mielke ^joined First Bank System in 1961, and had been president and CEO since 1982. Mr. Owens served as the bank’s vice president since 1975, ^ a n d joined FBS in 1966. MINNEAPOLIS: The board of di rectors of Norwest Corporation has https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis B ill M u llin s Correspondent Services I t's easier to talk Iowa banking with people w ho live it — people like Donald H. Jordahl and the cor respondent staff at Bankers Trust. Call 1-800-362-1688 or 515/245-2424. B ankers Trust Des Moines, IA M em ber FDIC Nancy Tierney Investment Services Donald H. Jordahl Vice P resid en t POSITIONS AVAILABLE TRUST OFFICER—Will supervise and direct the Employe^P Benefits department of a large Trust division. JD preferred but not required................................................ To $40,000. MANAGER/MORTGAGE SERVICING—Experienced leader with top notch organizational and management skills. Sev eral years S&L experience preferred................. To $25,000. COMMERCIAL LENDER—Polished professional with fo r - ^ mal credit training and proven leadership ability. W il™ supervise and direct 3 loan officers in a large commercial department of a metro bank.............................. To $50,000. SR. LENDER needed for recently acquired $64MM Bank. Position could lead to PRES/CEO. Looking for that aggres sive and analytical leader. Send resume to File No. WKS c/o Northwestern Banker. (PA) INTERNAL AUDITOR. Central Nebraska holding company seeking an IA, degreed, 1-3 yrs. auditing experience, CPA or bank examiner background would be helpful. Growing dynamic organization offers position with a future. Minimal overnight travel. Send resume to File No. WLG c/o Northwestern Banker. (PA) Seasoned COMMERCIAUREAL ESTATE LENDER with analytical & management experience for expanding $25MM bank located in major metropolitan area in the midwest. Could be 2nd man for the right person. Send resume to File No. WKI c/o Northwestern Banker. (PA) JUNIOR AG OFFICER—Must have excellent people skills plus ag lending experience............................... To $23,000. Financial Careers, Inc. Two Ruan Center/Sulte 1000, Des Moines, IA 50309 515/245-3786 Employer pays fee. ^ Please contact Lorraine Lear or Malcolm Freeland con cerning these and other Midwest banking opportunities. POSITIONS AVAILABLE PRESIDENT Are you ready for a new challenge? A profitable bank ^ located in S.E. Minnesota city of 3,000 seeks a community 0 minded banker. As the managing officer you will be re sponsible for increasing the deposits of this bank. Desire a degreed professional with 10+ years commercial lend ing experience and strong business development skills. To 55K. Job #NW2457 PRESIDENT This is a dream job! A clean ag portfolio, a growing de posit base and an owner who will let you manage your own shop! Located in N.E. Iowa you will direct a 30MM bank. Must be community motivated with excellent interper sonal skills. Seek 10+ years commercial/ag lending ex perience and the ability to manage. To50K. Job #NW2458 VICE PRESIDENT/AG LENDER f Are you ready for the second spot in a well performing S.E. Minnesota bank? A well managed bank seeks a well rounded ag lender with 5+ years ag lending experience. Must be a shirt sleeve manager who will get involved. Pre fer a degree with excellent business instincts. Hot to hire! To 36K. Job # NW2459. FOR MORE INFORMATION CONTACT JAN PETERS OR PAUL GENTZKOW BANKERS AVAILABLE TRUST OFFICER Looking to get on the fast track? Are you tired of “ going through the motions” in a slow-paced environment? Dy namic Iowa bank seeks 2-3 year trust professional for their growing dept. Super oppty to move into highly visible role in prestigious bank. This is where your career takes off! $30K. COMMERCIAL VP Are you an experienced manager who has worked with sophisticated credits? Would you feel comfortable super vising hard chargers in a key metro marketplace? This position offers all this and much more if you have 6 + years experience in commercial with mgt responsibilities. Don’t hesitate, one of the few great positions out there. $48K. CREDIT ADMINISTRATION HEAD Tired of being unappreciated by your current mgt? Fantas tic oppty to be part of bank holding company’s decision making team. If you have 5 + years in a credit analysis position and mgt skills, this is the job for you. Creative spot for proven professional looking to be major force in a large organization. $45K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS s ROBERT MflLF O F M — « B O T A , — C. 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID POSITIONS AVAILABLE TRUST MARKETING ■ large urban bank. Requires degree and trust experience. $35K REAL ESTATE LOAN - single family residential and secon dary market experience required. Proximity of major metro area. $4010 LOAN REVIEW - large bank experienced required. Both junior and senior level positions available. $28-$40K COMMERCIAL LENDING ■ V.P.positions in urban and large suburban banks. Personal portfolios from $20MM to $50MM. $40K BRANCH MANAGER - handle small business and c o n A sumer credits. Med-size community affiliate of m u ltib a n l^ holding company. $24K Additional listings for commercial lending and trust officers. Resume’ requested. Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID TOM HAGAN & ASSOCIATES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 “Serving the Banking Industry Since 1970” Voi. 16 No. 30 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden Digitized for Des FRASER St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0
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