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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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis