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Vol. 17 No. 26
Des Moines, Iowa
We Need Federal Deposit
Insurance Reform—Now!
O. Jay Tomson, chairman and CEO o f the $101 million
asset Citizens National Bank in Charles City, la*,
shared his views on federal deposit insurance reform
with fellow bankers as one o f three panelists on that
topic during the Iowa Bankers Association annual con
vention in Des Moines last month. Mr. Tomson is high
ly respected within the industry for his perspective
based on his experience as a former examiner for the
Federal Reserve System, as former executive vice
president of Marquette Bank in Minneapolis, as a
director for six years o f the Federal Reserve Bank o f
Chicago, as CEO o f a large community bank, and now
as president-elect of the Independent Bankers Associa
tion o f America. He is an astute student o f the finan
cial industry. The following article contains major por
tions o f his IB A address.
HAT the chaotic state of affairs of this country be
comes more acute, even chronic, and cries out for
T
relief and reform, is of no surprise to the vast majority
of those of us who participate as players in this indus
try. The storm clouds have been
gathering for some time. Perhaps
the fairest of the questions relative
to the dilemma is, “Why is nothing
(other than rhetoric) being done
when so much ink is being spent
describing the character and di
mension of a growing financial
scandal, perhaps beyond the mag
nitude and dimension of anything
yet experienced in this century in
terms of estimated cost by the lar0-J- T0MS0N
gest and, presumably, most powerful government in
the free world?”
October 10,1988
Whatever the reasons for delay, it is apparent that
the associated costs related to long overdue deposit in
surance reform continue to mount. Had the taxpayers
of this nation been fully informed of the consequences
associated with the resolution of the problem early on,
and been apprised of the potential costs related to it,
there would have been more clamoring for early and ef
fective reform measures.
All of us who play by the rules and attem pt to run
sound, reasonably well-capitalized institutions have
the same growing frustrations over the status of the
current environment. But what type of remedial action
must be undertaken? What guidelines can be esta
blished to to serve as the criteria within which reform
must take place to assure that it will have the desired
impact and long-lasting results on our industry?
Perhaps to answer this we should step back a few
yards and look at the insured depository institutions of
the nation and examine their likenesses, differences,
and unique qualities. The outgrowth of specialization,
especially pronounced since the 1930s, is an obvious
characteristic. Commercial banks, thrifts, and credit
unions all have grown out of this propensity for
specialization. Not only did the character of the char
ters and the scope of permissible activities differ by
charter, but a whole array of supporting central bank
ing, quasi-central banking, specialized regulators, and
specialized federal deposit insurance corporations
grew up in support of these industries. The idiosyn
crasies which followed allowed, naturally, for the dif
ferent measurement of capital adequacy, different atti
tudes relative to regulation and supporting statutes,
regulations and rulings peculiar to each sub-industry;
consequently, the incredible scheme and maze of fed
erally insured depositories. The justification for the
continuation of these sub-industries should be exam
ined in light of the scope of their respective charters.
DEPOSIT REFORM NEEDED . . .
(Turn to page 3, please)
After m ore than 120 years of providing correspondent banking services to the
M idw est, you can say weVe had a chance to polish our trade.
Find out for yourself. Count on Com m erce.
1-800-892-7100 1-800-821-2182
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(Outside Missouri)
$v ”» oCommerce
f Kansas City Bank
Norwest Bank Des Moines, N.A.
SSmSS
NORWEST b a n k s
S M M
C all (515) 245-3131 or toll-free (800) 362-2514
Member FDIC
n w
T e a m w o rk :
one o f the reasons
w e're first in Iow a.
Jay Nichols
John Cretzmeyer
Iowa News
The Iowa Bankers Association
and the Iowa American Institute of
Banking will co-sponsor 1988 Staff
Training sessions in eight locations
across Iowa. Kateri Schmerler of Ar
row ‘S’ Associates will present the
seminar, entitled “Quality Service—
We Owe It to Them.” Agenda is:
Registration—5:30 p.m.; Dinner—
6:00 p.m.; Program—7:15-9:00 p.m.
Fee includes dinner and handouts
and is $35 for members, $45 for sub
scribers and $55 for non-members,
with $10 addition due if paid at the
door. Dates and locations are: Oct.
31—Nob Hill, Decorah; Nov. 1—
Best Western Red Fox Inn, Waverly; Nov. 2—Elks Club, Iowa Falls;
Nov. 3—Buena Vista College, Storm
Lake; Nov. 9—Red Coach Inn, Red
Oak; Nov. 10—University Park Hol
iday Inn, West Des Moines; Nov.
14—Collins Plaza, Cedar Rapids;
Nov. 15—Best Western Fairfield
Inn, Fairfield. Contact the IBA to
register.
*
Dennis Earhart
Together We Can
Accomplish
Great Things
Call 319-368-4789
or toll free 1-800-332-5991
Strength of \
Eastern
J
|ow a_j
Merchants National Bank in
Cedar Rapids. Iowa 52401
Member F 0 1C
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
A BANKS OF IOWA BANK
*
Iowa Bankers Insurance and Ser
vices, Inc. will conduct a Credit Life
Disability Licensing School on Oc
tober 31 to November 1 at the How
ard Johnson Hotel in Des Moines.
Fee is $50 for bankers and $65 for
non-bankers, and includes a Licen
sing Information Bulletin, study
materials, two days of instruction,
lunch, and refreshments both days.
Iowa Agents’ Study Manuals are
available at $15.60 each. School
hours are 9:00 a.m. to 5:00 p.m. on
Oct. 31 and 8:00 a.m. to 5:00 p.m. on
Nov. 1. Register by October 24 by
contacting Heidi McCuddin at
IBIS, (800) 532-1423 or (515)
286-4395.
*
MNB Correspondent Banker
*
*
*
The IBA’s annual Fall Roadshow
Meetings have been scheduled for
November and December. The pur
pose of the meetings is to provide
bankers with an opportunity to re
view the final legislative positions
taken by the IBA Board of Direc
tors and discuss them with legis
lators. Dates and locations are:
Group 6—4:00 p.m., Nov. 16, Hotel
Fort Des Moines, Des Moines;
Group 3—11:45 a.m., Nov. 17, Phea
sant Run, Mason City; Group 8—
4:00 p.m., Nov. 21, The Highlander
Inn, Iowa City; Group 11—4:00
p.m., Nov. 22, First National Bank
of Fairfield; Group 2—5:30 p.m.,
Nov. 28, Starlight Hotel, Fort
Dodge; Group 7—4:00 p.m., Nov. 29,
Best Western Regency Hotel, Mar
shalltown; Group 4—4:00 p.m., Nov.
30, Manchester Country Club, Man-
chester; Group 12—4:00 p.m., Dec.
5, Stubbs Ranch, Spencer; Group
1—4:00 p.m., Dec. 6, Ida Grove
Country Club, Ida Grove; Group 5—
12:00 p.m., Dec. 7, Lake Shore Coun
try Club, Council Bluffs. Contact
the IBA for more information.
* * *
#
The IBA Comprehensive Teller
Development School for Trainers
will be held December 13-14 at the
Savery Hotel in Des Moines. Work
shop leader will be Bev Licata, vice
president, Financial Education &
Development. The workshop begins
on the 13th with registration at
8:30, and runs from 9:00 to 5:00 with
a noon luncheon. On the 14th the
schedule is 8:30 to 4:00 with a noon
luncheon. Advance fees are mem
bers—$275, subscribers—$325, non
members—$375, with $25 additional
due after December 2. Register
through the IBA office.
CEDAR RAPIDS: Sam Famer has
been elected a director of City Na- •
tional Bank. He is president of
Farner-Bocken, a distributor of
business and institutional products
with centers in Cedar Rapids and
Charles City.
•
DUBUQUE: A new Personal Investments Center has been added to ^ P
the lobby of the main bank of First
National Bank of Dubuque. The £
center features the Stephens Link
communications system. It will be
managed by John R. Darrah, invest
ment advisor and vice presidentpersonal investments. Prior to join- £
ing the bank, he was a trust invest
ment officer at the First National
Bank of Springfield, 111., and was
also a stockbroker in Davenport.
Nebraska News
The Nebraska Bankers Associa- #■
tion will sponsor its 1988 Bank
Operations Conference at three loca
tions during October. Speaker will
be General Marvin D. Fuller, a bank
consultant from Junction City, Kan. #
who is also an instructor and writer
for Shesunoff and Company. The
program begins with registration/
continental breakfast at 8:30, with
the conference running from 9:00 t o ^ #
4:30. Fee is $70 and includes break-^P
fast and lunch. Dates and locations
are: Oct. 25—Omaha Best Western
Regency West; Oct. 26—Ogallala
Holiday Inn; Oct. 27—Kearney #
Ramada Inn. To register, contact
INVESTMENT
SHORTCUTS
CA N LEAD
YOUR BANK
TOA
D EAD EN D
Over the years, United Missouri Bank
has seen a lot of banks come and go. Many of
the failures and dose calls have been in the
Midwest, with some banks turning to unprov
en, high yielding investments to boost earnings
quickly. It’s a tempting shortcut that hasn’t
worked out. Because the market has moved
in unexpected fashion, many of these volatile
or unproven investments have brought
{ill
disastrous results to the banks that reached for
the extra margin.
Since 1928, United Missouri Bank has
researched, analyzed and offered only top qual
ity securities and investment strategies. We’ve
helped financial institutions build profitable
investment portfolios. Contact our Investment
Banking Division at 556-7200. We’ll help you
move in the right direction.
Investment Banking Division
U
N IT E D M ISSO U R I B A N K
Member FDIC
of Kansas C ity, n.a.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Deposit Reform Needed Now!
(Continued from page 1)
If you’re among the safe and sound, solvent, liquid,
capitalized earning depository institutions, irres
pective of the character of your charter, you are cer
tainly among those who should have a strong and ac
tive interest in the progression of ideas on the subject
and the ultimate outcome. You are most likely to be
among the players remaining on the field long after the
whistle is blown on the current, dismal situation. It
may take a long while to legislate the needed reforms,
so some long-range objectives are necessary, combined
with enough short-range strategies to stay around un
til (hopefully) the proper resolution is reached.
The point is that the desire to: (1) restore compe
titive equality, (2) restore and hold depositor confi
dence, (3) obtain even-handed regulatory treatment, (4)
recreate a quality of equilibrium and (5) clean-up the
mess, does not exist to an equal degree among all the
players. I t’s Congress’ responsibility to act and, as the
costs to society mount with each passing day, the
disease moves from acute to chronic, and the ultimate
decision on how to deal with a problem of such historic
magnitude will come more and more into focus. Unden
iably, the buck stops at the door of the U.S. Treasury
Department and, as the powerful Washington Post has
pointed out, the decision for Congress to act shouldn’t
be a very hard one.
In the meantime, those of us with a strong, vested
interest in the outcome must stand watch, keep a
strong presence in the discussions that ensue, and ex
amine the merit of the myriad of proposals that come
forth. The community bankers of this country have a
large stake in these proceedings and an opportunity to
walk in the vanguard with those most likely to effect
necessary change. We should not stand ready to in
herit something less than acceptable. As Peter
Drucker has said, the best way to predict the future is
to create it. Perhaps we aren’t influential enough to
create it, but we can surely be a strong and positive in
fluence on it.
Whether a bold frontal action, which would result in
a complete restructuring of the depository institu
tional industry, ensues, or if only the small, step-at-atime measures are employed, remains to be seen. Ad
vocates for both methods certainly are in evidence. At
least five characteristics can be named which should be
inclusive in any such endeavor. Perhaps there are
more. They are simply these: (1) equal capital re
quirements for all players, (2) equal accounting prac
tices for all players, (3) equal regulation for all players,
(4) equal taxation for all players and (5) complete re
examination of the statutes and regulations affecting
the function and supervision of the government safety
net called deposit insurance.
Now th a t’s a very broad brush with which to paint.
goals of these reforms are qualitative and, ob
Digitized forThe
FRASER
viously,
idealistic when compared to the realities of our
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
existing system. But, we know full well that hard equi
ty capital of the commercial banking system and
reserves of a mutual are really not the same. We know
that regulatory accounting procedures within indus
tries are a far cry from needed conformities for all. We
know that a significant disparity exists between the in
timidating, hard-hitting examinations of the FDIC in a
small bank compared to the favorable treatment ob
viously afforded an insolvent S&L. We know we have
to reexamine the necessity of maintaining costly
redundancies in a system built to accommodate
specializations that, perhaps, no longer require them.
We know that a maze of federal income tax laws,
designed to accommodate specialization and favor the
national policy of cheap housing, are no longer ra
tional.
“We know that hard equity capital of
the commercial banking system and
reserves of a mutual are really not the
same.”
Within each of these concepts there is room for
reform as is being advocated by various interests from
around the nation. A new FBC plays to the need for
capital and capital equality. A strengthened Federal
Financial Institutions Examination Council (FFIEC)
plays to the need for more consistent regualtory stan
dards. A review of the deregulation policies of the
Reagan Administration falls within the context of re
examination of the statutory framework and function
of the government safety net of deposit insurance^ as
does the suggestion to examine: (1) liberal chartering
practices, (2) no insurance fees for foreign deposits, (3)
extensive brokerage of insured deposits. The sug
gestion to tax credit unions deals within the overall
need to equalize the tax burden on financial institu
tions.
As these suggestions and others come forth, they
should all be examined under the bright lights of a bet
ter financial structure that, in the long run, can insure
a framework of competitive equality for all players and
good service for all of the nation’s consumers, personal
and corporate alike.
The banking associations of the nation, both state
and federal, have made it quite apparent that they do
not wish to see their respective constituents pay the
price for the folly of the thrifts and get stuck with the
bill for recapitalizing the FSLIC. Certainly, there is
strong justification for their argument in this regard.
With this preamble in mind, we should proceed with an
intelligent dialogue and pursue a good and lasting com
prehensive plan of deposit insurance reform.
□
OVER 60%
m OFALL BANKS IN OUR MARKETAREA ARE NOW INSURED
BY THE KANSAS BANKERS SURETY COMPANY
That’s R ig h t.. .In the nine states we serve we have solved the bonding needs for
6 of every 10 banks.
Thafs over 1 6 .4 % of all banks in the United States
THE REASONS. . .
SUPERIOR SERVICE
MOST COMPETITIVE PREMIUMS
REALISTIC UNDERWRITING
PROMPT CLAIMS SERVICE
IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY...
GIVE US A CALL - YOU’LL BE GLAD YOU DID.
THE KANSAS BANKERS
SURETY COMPANY
DONALD M. TOWLE
President
DAVID E. ABENDROTH
Senior Vice President
611 Kansas Avenue P.O. Box 1654
Topeka, Kansas 66601
Phone 1-913-234-2631
w
FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION,
DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES
Serving the Heartland of America since 1909
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
OVER 60%
OFM L BANKS IN OUR MARKETAREA ARE NOW INSURED _
BY THE KANSAS BANKERS SURETY COMPANY
*
That’s Right. . . In the nine states we serve we have solved the bonding needs for
6 of every 10 banks.
Thar's over 1 6 .4 % of all banks in the United States
THE REASONS....
SUPERIOR SERVICE
MOST COMPETITIVE PREMIUMS
REALISTIC UNDERWRITING
PROMPT CLAIMS SERVICE
IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY...
GIVE US A CALL - YOU’LL BE GLAD YOU DID.
THE KANSAS BANKERS
SURETY COMPANY
DAVID E. ABENDROTH
Senior Vice President
DONALD M. TOWLE
President
611 Kansas Avenue P.O. Box 1654
Topeka, Kansas 66601
Phone 1-913-234-2631
FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION,
DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES
Serving the Heartland of America since 1909
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
F irs Tie r
p
Correspondent Services
More of what it takes to serve you well.
FirsTier* Banks
FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC
the NBA office by October 18.
Lincoln • Omaha
served with the Nicollet County
Wisconsin News
Bank in St. Peter and with the
The Wisconsin Bankers Associa
Norwest Bank in Mankato.
tion will offer its annual Consumer
The NBA will sponsor an Ad^ vance IRA Conference at two loca- ST. PAUL: FBS Mortgage Corpora Financial Information Update Con
^ tions in November. Conference tion has signed a letter of intent to ference on October 24 at the Con
leader will be Deborah C. Hinds of purchase the assets of the produc course Hotel, Madison, from 8:30 to
Training Resources, Inc., Houston. tion unit of Interstate Lending Cor 3:00. A variety of speakers will ad
Registration/continental breakfast poration of Colorado, Denver. The dress a broad array of topics dining
^ will be at 7:30 a.m., followed from closing was expected to take place in the conference. For registration in
8:00 to 9:00 by an early bird session 60 days. The corporation will con formation, contact Mary Beth
to review the basics of IRAs. The duct business as FBS Mortgage Cor Kuester at (608) 255-4083.
general session runs from 9:00 to poration, Colorado Region.
4:00. Fee is $75 and is due by
^ November 8. Dates and locations
South Dakota News
are: Nov. 16—North Platte Holiday
YANKTON:
Randall A. Johnson
Illinois News
Inn; Nov. 17—Columbus New World
has
been
elected
president of Valley
Inn. Contact the NBA to register.
CHICAGO: Kenneth J. Ozinga, State Bank, effective October 14. He
BLAIR: Mike Mahlendorf has been president of First Evergreen Cor succeeds J. William Henry, who will
• named the new president of Wash poration, announced recently that continue as chairman. Valley State
ington County Bank. He comes from the Evergreen Banks have reached is owned by First National of
Sibley, la., where he spent the past the one billion dollar combined asset Nebraska, Inc., Omaha, where Mr.
five years at Sibley State Bank, four mark.
Henry is executive vice president of
as executive officer.
The First National Bank of Omaha.
CHICAGO: Robert M. DuPlessis Mr. Johnson most recently has been
has been promoted to pro-cashier at employed for seven years by the
The Mid-City National Bank of First National Bank in LeMars, la.,
Chicago. He joined the bank in 1981 the last two as president. Prior to
Minnesota News
and most recently served as elec that he was with First Interstate
0 MINNEAPOLIS: The Marquette tronic transmission supervisor.
Bank of Estherville, la., for seven
Bank Correspondent/Investm ent
CHICAGO:
Jeanne
R.
Hensel
has
years
and spent two years earlier in
Conference will be held at the Holi
his
career
with a small bank. He is a
been
named
vice
president
of
Cole
day Inn in downtown Minneapolis
Taylor
Bank/Main.
She
joined
Cole
graduate
of
Briar Cliff College in
on November 3 and 4. The gathering
Sioux
City.
Valley
State Bank has
Taylor/Drovers
in
1981
and
trans
0 will focus on a variety of topics in
assets
of
$68
million.
ferred
to
the
Main
bank
in
1983.
She
cluding economic outlook, strategic
planning, portfolio management and was named an assistant vice presi
correspondent and investment ser dent there in 1986.
North Dakota News
vices. A reception and dinner dance WHEELING: Ernest L. Shapiro
# is planned for the evening of the 3rd. recently was named vice president
The N orth D akota Bankers
Register by October 11 by contac and director of marketing for Cole Association Human Resource Con
ting Lee Hamilton or Mark Schabert Taylor Financial Group. He has over ference will be held October 18 and
at the bank.
30 years of advertising and mar 19 at the Doublewood Inn in Fargo,
keting
experience, most recently as and October 20 and 21 and the Holi
^ MINNEAPOLIS: Norwest Bank
senior
vice
president/corporate mar day Inn in Bismarck. Conference
® Minnesota has named Lawrence N.
keting
for
Bally's
leisure and gam theme is “Personel Administration
DeLeers, Jr. to a new position as
ing
group.
in the 1980s and 1990s." The first
managing director of international
banking services in Wisconsin. He
^ previously served as senior vice
t's easier to talk Iowa banking
president in the international bank
with people who live it — people
ing division of First Wisconsin Na
tional Bank in Milwaukee. He will
like Steve Brewer and the corre
operate out of the Norwest office in
spondent staff at Bankers Trust.
^.B rookfield, Wis.
Call 1-800-362-1688 or 515/245-2424.
V S T . CLOUD: Todd S. W yatt has
been elected a vice president of St.
Cloud National Bank & Trust Co.
^ He will manage the bank's new
Steve Brewer
Des Moines, IA
• West Bank facility that will open
Member FDIC
Assistant Vice President
later this year. Mr. W yatt has
https://fraser.stlouisfed.org
*
*
*
I
Federal Reserve Bank of St. Louis
5 day will feature topics related to the
new legal environment in personnel
administration; the second day will
focus on how to design an effective
performance appraisal system. Fee
is $170 for both days or $90 for one,
and you must register with the
NDBA by October 11.
DOES YOUR BANK NEED AN INVESTMENT CENTER?
Your benefits:
• New high net worth customers
• Added profit
• Reduced deposit loss to competitors
• Ability to offer complete financial services
For information contact:
INVESTM ENT
CENTERS
Colorado News
DENVER: James R. Peoples has
been named senior vice president
and manager, credit administration
for First Interstate Bank of Denver.
He joins the bank from First Inter
state Bancorp in Los Angeles where
he has served as senior vice presi
dent, credit administration. He has
also been employed by National
Westminster Bank, New York, and
by the Centred National Bank of
Cleveland. The bank has also named
Kent P. Soukup senior vice presi
dent. He is the bank’s controller/
cashier and joined the staff in 1984
from First Interstate Bank of Fort
Collins.
MEEKER: The FDIC has approved
the transfer of insured deposits and
fully secured or preferred deposits of
Peoples State Bank of Meeker to
The First National Bank of Meeker.
The failed bank’s sole office was
closed September 23 and will not
reopen. It had assets of $3.7 million.
Administration of the transferred
insured deposits will be funded by
an equivalent cash payment from
the FDIC. The acquiring bank is
paying the FDIC a premium of
$1,000 and will purchase assets of
the failed bank for $407,000.
1-800-544-7113
First Dakota Building
P.O. Box 2796
Bismarck, ND 58502
or
P.O. Box 65697
West Des Moines, IA 50265
BANK FOR SALE
FOR SA LE
Due to recent death of a major shareholder, con
trolling Interest in the Clarke County State Bank,
Osceola, Iowa will be sold. Bank has total assets
of $74 million and R.O.A. of approximately 1.40
percent. Interested parties should contact Mr.
Donald E. Holder, Holder and Associates, 405
Main, Ames, IA 50010, 515-232-0814.
R E C O N D ITIO N E D
BRANDT Coin Sorters-Counters
BRANDT Currency Counters
New Warranty
402-571-5577
FOR SALE
PORTABLE BANK BUILDING. 14’ x 65’ with Mosler vault &
drive-up equipment + miscellaneous other equipment.
Contact Wilton Savings Bank, Wilton, IA (319) 732-2077. (FS)
Burroughs S1100 Single Pocket PROOF MACHINE, Serial
No. S21873-001— $250; Bell & Howell ABR 650 MICRO
FILM VIEWER-COPIER with Auto Load— $100. Contact
Barb or Jim at The State Savings Bank, Cantril, Iowa
52542, Phone (319) 397-2401.
(FS)
POSITION AVAILABLE
Farmers & Merchants Bank & Trust, Burlington, la., has a
position available for a qualified INSTALLMENT LOAN
OFFICER with 3-5 years experience. Send resume to Per
sonnel Officer, P.O. Box 928, Burlington, IA 52601. Salary
open. Equal opportunity employer M/F.
(PA)
Acquisitions and changes have created special needs
within this major holding company. We are looking for
special people to fill those needs. Contact File No. WOK
c/o Northwestern Banker.
(PA)
Fast growing S.W. Minn, bank is in immediate need of an
BANKING
AG LENDING OFFICER. Qualifications for the position are
comprehensive ag lending skills, knowledge of P.C. com
puter, prefer 2-3 years bank experience. FmHA and some
consumer lending. Contact File No. W OP c/o North
western Banker.
(P
COMMERCIAL LOAN OFFICER needed in $92 million
BANKERS AVAILABLE
LOANS/INSURANCE. 10 yrs. in banking; past 5
yrs. at $15MM bank working w/ag & installment
loans (incl. FmHA guarantees), & prev. 5 yrs. as
mgr. of in-bank insurance business. Reference
states, “ Excellent work habits, thorough in len
ding duties, has a very outgoing personality & is a
good family man.” B.A. degree, licensed in
surance agent.
$26,000 +
bank, sizeable community (good market area), requires a
sales and marketing oriented, professional individual with
5-10 years com'l lending experience. Excellent growth op
portunity for qualified person. Send resume and salary
history to File No. W O Q c/o Northwestern Banker.
(PA)
AG LOAN OFFICER— Profitable $41 million independent
bank In county seat town. Needs community minded ag
lender with 2 or more years experience. Salary commen
surate with exp., plus full family health coverage and profit
sharing. Please include salary history with resume. Con
tact File No. W OR c/o Northwestern Banker.
(PA)
AG LOAN OFFICER. 2 yrs. ag lending exp.; cur
rently in $50MM la. bank w/no chance for advance
POSITIONS AVAILABLE
AQ L.O.
Growing country bank seeks 3 + year ag lender. Must have
prior banking background and sales ability.
$30K.
BR. MGR.
ment. Spent 8 yrs. in ag sales & mgmt. before suc
cessful career change. References praise his selfmotivation, credit analysis & loan judgment, civic
duties & P.R. skills.
$23,000 min.
Call Jean or Sandi for complete details
on these candidates.
$35K
REAL ESTATE LOAN - single family residential and secon
LOAN REVIEW • large bank experienced required. Both
junior and senior level positions available.
$28-$40K
COMMERCIAL LOAN OFFICER
Great location. If you have dealt with credits larger than
$125K, are career motivated and desire greater chal
lenges, this is it! Holding company bank seeks officer lev
el person and offer opportunity to move into mgmt. $38K.
COMMERCIAL LENDING - V.P. positions in urban and
large suburban banks. Personal portfolios from $20MM to
$50MM.
$40 K
BRANCH MANAGER • handle small business and con
sumer credits. Med-size community affiliate of multibank
holding company.
$24K
FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS
Jean Eden
515-276-1151
ALL FE ES C O M P A N Y PAID
and trust experience.
dary market experience required. Proximity of major metro
area.
$40K
Aggressive growing bank seeks proven manager with 6 +
years banking and heavy emphasis in real estate lending.
Super opportunity to run things your way.
$50K.
317 6th Ave, Ste. 650
Des Moines, IA 50309
(515) 244-4414
P O S IT IO N S A V A IL A B L E
TRUST MARKETING - large urban bank. Requires degree
Sandi Garner
515-832-1258
Tues / Wed / Fri
525 Merle Hay Tower
Des Moines, Iowa 50310
515-276-1151
Additional listings for commercial lending and
trust officers. Resume’ requested.
TOM H A G A N & A SSO C IA TE S
P.O. Box 12346/2024 Swift
North Kansas City, MO 64116
816/474-6874
“Serving the Banking Industry Since 1970"_____ 4
Vol. 17 No. 26 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
Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden
St., #201, Des Moines, Iowa 50309.
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