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Vol. 16 No. 26 Des Moines, Iowa siana, Oklahoma, Texas; 17.26 per cent, New Jersey, New York, Penn sylvania; 17.43 percent, Pacific (Calif., Hawaii, Ore. and Wash.); cial industry executives for a record- 17.52 percent, South Atlantic; 17.54 breaking attendance of more than percent, Alabama, Kentucky, Mis 1500. sissippi, Tennessee; 18.17 percent, “The survey shows that bank Iowa, Kansas, Minnesota, Missouri, card rates are more competitive Nebraska, North Dakota, South Da than ever before,’’ said Maria Ger- kota; 18.24 percent in Wisconsin, Il wing, incoming chairperson of A BA ’s linois, Indiana, Michigan, Ohio; and Bank Card Division. “Today con 19.21 percent, in the Mountain re sumers have more choices. Besides gion. lower rates, banks are offering more “A significant finding is that flexible credit card programs either grace periods have not been reduced through variable or tiered pricing or or eliminated,” said Ms. Gerwing. through affinity programs, which “On the contrary, the study shows are becoming one of the fastest the majority of banks (between 68 growing market segments in the percent and 81.6 percent) wait three bank card industry,” said Ms. Ger- to four weeks after a credit card pur wing who is also a senior vice presi chase before charging interest,” she dent of Liberty National Bank & said. “This allows consumers to get, Trust Company, Louisville, Ky. in effect, an interest-free loan for 25 The A BA research shows that to 30 days.” bank card rates, fixed and variable, Not surprisingly, the grace period were lowest in the New England or “free-loan” option has great ap (16.33 and 14.80 percent respective peal, Ms. Gerwing noted. According ly) states and in Arkansas, Louisi to the survey, between 29 and 37 ana, Oklahoma, and Texas (16.40 percent of card holders pay their and 14.00 percent respectively) and balance in full each month and avoid highest in the Mountain (Ariz., paying interest charges. Colo., Idaho, Mont., Nev., N.M., The bank card survey, included in Utah and Wyo.) region (19.21 and A BA ’s annual Retail Bank Credit 16.14 percent respectively). Report, covers trends and develop Florida and the others in the ments of 1986 and the first quarter South Atlantic region reported an of 1987. A national sample of 614 average fixed rate of 17.52 percent. banks participated in the survey A summary of regional (fixed) rates which was designed to offer a repre follows: 16.33 percent, New Eng sentative picture of retail banking land; 16.40 percent, Arkansas, Loui activities within the industry. □ 9 Bank Card R ates Low er, A B A Study Shows ANK credit card rates are lower today than they were in 1986, B according to a national survey re'leased Sept. 21 by the American Bankers Association. Overall, bank credit card terms vary widely with respect to interest rates and annual .fees, the report concluded. The average (fixed) interest rate for bank credit cards varied between 17.24 and 17.98 percent as of mid year 1987, according to A BA ’s 1987 . Retail Credit Report. This compares to 18.26 and 19.34 percent, respec tively, in the first half of 1986. Com munity banks with assets of $50 to $100 million reported the lowest ^rates while banks under $50 million in assets had the highest bank credit card rates. The report shows that bank cards with variable rates were lower (rang(ing between 14.59 percent and 16.49 percent) than fixed-rate cards. Rates for affinity bank credit cards (those offered through an agreement be tween a card issuer and an organiization that markets the card to its membership for various privileges) were also lower ranging between 16.89 percent and 17.65 percent. The survey was released at A BA ’s 1987 Bank Card Conference in Orlando. The annual conference attracted more than 200 exhibitors and hundreds of banking and finan Q F irst In terstate We’re setting the pace, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis October 12,1987 Lisa l/er Mulm Correspondent Services 1 800 362-1615 - - Come to the Investment Specialists committed to quality. Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS mmmmm mm yam Member FDIC Teamwork: one of the reasons we’re first in Iowa. John Cretzmeyer •7 Jay Nichols House Passes H.R. 3030 Late last Tuesday the House passed H.R. 3030 with a vote of 36545. The bill provides at least $2.5 bil lion to rescue the Farm Credit Sys tem, and provides for a secondary market for farm mortgage loans. Among restrictions added Tuesday was a limit on the size of loans that can be included in the new market, capping the loans at 960 acres or $1.5 million, whichever is higher. Meanwhile, in the Senate the Agricultural Credit subcommittee is making slow progress with their farm credit bill, and the Reagan ad ministration has threatened to veto the House bill. y 'H i Dick Retz MNB C o rresp o n d e n t B ank er Together We Can Accom plish Great Things Iowa News NORTHWOOD: Kary S. Paulson has been appointed president of the Northwood State Bank. He was for merly vice president and cashier and has served the bank since 1973. He succeeds Velma Woodin, who has re tired. VINTON: Jo n M. Kremer has joined the State Bank of Vinton as assis tant vice president and manager of the bank’s Garrison office. Mr. Kremer previously served at the American Trust & Savings Bank, Dyersville office and the Farm Credit System, Manchester office. In these times of change and uncertainty, rely on the time-tested quality invest ment recommendations of the Investment Banking Division of United Missouri Bank. Nebraska News U N IT E D M ISSO U R I BANK The Nebraska Bankers Associa tion will sponsor an Executive Plan ning Conference on Oct. 29-30 at the Lincoln Hilton Hotel. During the gathering, the results pf the NBA research project on public opinion regarding financial institutions will be shared. On the 29th, registration/ continental breakfast is at 8:30 a.m., followed by a presentation on the study from 9:00 to noon, lunch, and additional sessions starting at 1:00. Reception is at 5:30 and dinner with speaker at 6:30. On the 30th, break fast is at 8:30 and sessions from 9:00 until noon. Fee is $20 and includes all meals; fee for guests at the reception/dinner is $20. Register through the NBA office. Cedar Rapids. Iowa 52401 Member F 0 1C https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Qf ||^ . 10th & Grand • P.O. Box 226 Kansas City, Missouri 64141 • (816) 556-7200 Minnesota News M INNEAPOLIS: Robert H. Weis-* man has been named senior manag ing director and head of mergers and At Security National Bank, our minds are on meeting all your Correspondent Banking and Investment needs. We’re Security for you! M ichael Moreland Ron Kiel Correspondent Banking Officer 712- 277-6736 < BRA IN ERD : R. Alan Lichty recent ly joined First American Bank in Brainerd as senior vice president for loan services. He was previously se-| nior vice president, commercial lend ing at First Bank, St. Cloud. He spent 19 years with First Bank Sys tem. A Meeting Of The M inis. Call 319-398-4806 or toll free 1-800-332-5991 Strength Eastern |owa Merchants National Bank 1:1 Member FD.C SECURITY NATIONAL BANK IN SIOUX CITY, IOWA. MEMBER ED.I.C. Wee President Investments 712- 277-6616 I/IPIVIENT I ...... &sen,,ce SE ®«^winnS P'c j, i® L. and counters __ rrjintitc? t0 30 rolls per re, onciliation ►Vault a u t o m a t m n ^ ^ ^ ^ ^ ^ _________ __ shredders # Conveyor snreu mini-mark - 1 W 5 5 ^ or Sys,em s BUSINESS COgompfete t>anw™ ^ s o r t e r s & ATM s bancado I B | H H __ PC’s as a reii" he*R t SERVICE IS THE OF OUR business Inc. 3000 or(515) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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 • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis P.O. BOX 1654 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 F irsT ier, Correspondent Services More of what it takes to serve you well. F irs T ie r B an ks Lincoln • Omaha FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC acquisitions for the F B S merchant banking group. He previously served as senior vice president for corporate finance at Dain Bosworth • Inc. M INNEAPOLIS: Norwest Corpora tion has named John E . Thomas vice president and assistant general ^counsel in charge of legal affairs for its banking group, a new position. He previously served as senior vice president, general counsel and secre tary of IT T Consumer Financial fC orp ., based in Minneapolis. He has been with IT T since 1975, and prior to that served seven years on the legal staff with Ford Motor Com pany in Dearborn, Mich. ^SA R G EA N T: Joseph M. Collins has been elected president of the First American State Bank of Sargeant. He previously served as executive ^ vice president and cashier, and will ^ retain the latter title. He joined the bank in 1985. Illinois News 0 CHICAGO: At the Federal Reserve Bank of Chicago, the following peo ple were promoted to vice presi dents: David Epstein and Geoffrey Rosean, supervision and regulation • and loans department and Teri Kurasch, associate general counsel. CHICAGO: A t LaSalle National Bank, Terence P. Brennan has been _ appointed head of the municipal ® bond department. He joins LaSalle’s treasury group as senior vice presi dent. He served the past nine years with Prudential-Bache Securities. In — addition, Deborah Grudzien was ap^ pointed vice president of metropoli tan banking; Ja n Friedhofer Kohl, v.p. of international institutional I t's easier to talk Iowa banking with people who live it — people like Steve Brewer and the corre spondent staff at Bankers Trust. C all 1-800-362-1688 or 515/245-2424. B ankers Trust Des Moines, IA M em ber FD IC marketing in the institutional ser vices division of the trust depart ment, and Jose Santillan, v.p. of the investment strategy and research group. North Dakota News The Independent Community Banks of North Dakota will sponsor a Regulatory Compliance Update Seminar on Oct. 21 at the Bismarck Sheraton Galleria. Seminar leader will be T. Herbert Stevenson, execu tive vice president of Young & Asso ciates, Inc., Kent, Oh. He is an author and lecturer with extensive knowledge in compliance. Registra tion fee is $95 and includes manual, BANKING Steve Brewer Com m ercial Ban kin g O fficer continental breakfast and lunch. For more information, contact the ICBND at (701) 258-7121. * * * The North Dakota Bankers Asso ciation will present an IR A Update on Nov. 4 at the Doublewood Inn in Fargo, and IR A In-Depth on Nov. 5 at the Sheraton Galleria in B is marck. Speaker at the seminars will be Randy Heidmann of Collin Fritz & Associates, Ltd. Fee for the up date is $30, fee for the in-depth semi nar is $80, and fee for both is $95. You must register for the in-depth seminar or both by Oct. 21. Contact the NDBA office for more informa tion. "Professional assistance in hiring and career advancem ent" car eer s quality service by experienced professionals 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 Jean Eden 515-276-1151 Sandi Garner 515-832-1258 Tues / Wed / Fri Confidential. Fees Paid by Employer. EXKRBKX. A fter m ore than 120 years of providing correspondent banking services to the M idw est, you can say we’ve 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) 83011 4 POSITION A V A IL A B L E POSITION W ANTED Due to a retirement, $45MM Bank located w ithin an hour of a major metro area seeks an AG LENDER. Position leads to Sr. management. Send resume to File No. WKO c/o Northwestern Banker. (PA) CEO/MANAGEMENT position by experienced CEO, mid size bank. Strong in bank adm inistration, loan function & marketing. Graduate of advanced banking schools. Con ta ct File No. WLC c/o Northwestern Banker. (PW] EVP—$50MM Iowa bank in very nice town of 8,000 needs loan adm inistrator to take charge of $20MM commercial loan portfolio. Require 7-10 yrs current bank exp., strong commercial and ag knowledge, documentation and mar keting skills. Salary plus bonus. Send resume to File No. WKL c/o Northwestern Banker. (PA) POSITIONS AVAILABLE Position open for person w ith 6-7 yrs. AG LOAN experi ence in a S35-40MM Iowa bank. Send complete resume to: Box 477, Hampton, IA 50441. (PA) AG LOAN OFFICER to manage $9.5MM ag loan portfolio in $35MM bank. N.W. Iowa. Must have minimum 3-5 yrs. ag lending experience. Send resume to File No. WKZ c/o Northwestern Banker. (PA) VP. Immediate opening for 2nd officer position in $26MM bank located in scenic S.E. Minnesota community. Re quires proven experience in all areas of bank operations with expertise in agricultural, commercial & real estate lending w ith full knowledge of FHA & SBA programs. Com pensation w ill commensurate based on qualifications & experience. Send resume to File No. WLA c/o North western Banker. (PA) PRESIDENT AND C.E.O. - $35M bank w ith excellent growth prospects. Must have good lending experience especially in commercial loans. Salary range of $40-60K depending upon education and experience. Bank located in one of the most desirable market areas w ithin Iowa. Send resume on confidential basis to: Donald E. Holder, Holder and Associates, 405 Main, Ames, Iowa 50010 or call 515-232-0814. RYAN AUCTION CO., INC. Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319-382-8648 POSITIONS AVAILABLE. VP/TEAM LEADER— Metro bank needs commercial l e n d e * with 5-10 yrs. exp., formal credit training, degree and pro ven management skills for #2 spot in a $50mm depart ment........................................................................................To $50,000. CEO—Small Iowa bank needs a seasoned professional w ith good operations, ag lending background. To $40,000. JUNIOR AG OFFICER—Community bank needs e x p e r iA enced ag lender. Good opportunity to Improve career path. .................................................................................... ..........To$25,000. AG LOAN OFFICER—Well run Iowa bank looking for an exp. lender to manage department, degree preferred.......... ................................................................................To $30,000. Financial Careers, Inc. ^ Two Ruan Center/Suite 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 V.P. COMMERCIAL $22 MM bank seeking an experienced INSTALLMENT LENDER. W ill also handle light commercial and real estate. Knowledge of secondary real estate lending help ful. Send resume and salary history to File No. WLB c/o Northwestern Banker. (PA) Has the time come to take that giant step forward? A well ^ performing independent bank of $65mm one hour from the w Twin Cities seeks a senior loan adm inistrator to coordi nate its commercial lending activities. Desire a proven per former with 4 + years commercial lending experience, a degree, and formal credit training. Perks include a club membership. To$40K. Job#NW2351. FO R S A L E COMMERCIAL LENDER ^ Has your career growth opportunity disappeared? Have ^ you been searching for that passing lane to move your career forward? This solid mid-size independent bank in the western Twin Cities desires an individual with 1 + years commercial lending experience to join its commer cial banking dept. You w ill expand your career and exper tise! Perks. To$30K. Job #NW2349. NCR 775 SINGLE POCKET PROOF MACHINE. Good sec ond unit. 308-254-5536, ext. 16. American National Bank, Sidney, NE. (FS) WORKBOOKS for the TIBA-II & the HP-12C financial calcu lators. Wermersen Calculator Seminars, 3946 Oakshire Rd., Des Moines, IA 50310. (FS) AG LOAN OFFICER * Do you want to join an organization that offers multiple opportunity? This Western Minnesota bank is part of a small bank holding company that has a proven mgmt. team. As the loan officer you w ill be the #2 person in the bank. A great chance to grow! Desire 3 + years ag lending exp., w ith a degree. To$28K. Job #NW2350. ^ POSITION AVAILABLE PRESIDENT & CEO FIRST NATIONAL BANK, ESTES PARK, COLORADO THE FIRST NATIONAL Strong capital, clean note case, fine officer and staff group, excellent opportunity for major business growth beyond the present $25 to $30 m illion asset base, and located in a very progressive, beautiful community. FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR JAN PETERS s ROBERT HRLF THE POSITION REQUIRES All of the qualifications necessary to the office of President & CEO, plus strong people and business development skills, w ith a commitment to civic parti cipation and com m unity leadership. Address inquiries and resume’s to: Chairman, First National Bank, P.O. Box 2390, Estes Park, CO 80517. OF MINNESOTA. M C. 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID BANKERS AVAILABLE COMMERCIAL LENDER Accustomed to hectic pace. Currently has $12M in com mercial loans w/last 3 years in growing dept. 70% of time spent in business development working w/companies of 10-15M in sales. Team player who enjoys a challenge. $30K. POSITIONS AVAILABLE COMML LOAN - $50MM suburban bank with excellent growth and earnings history. Handle majority of commer cial credits. Report directly to President. $38K CEO - suburban de novo bank. Experience as CEO or COO required. Strong commercial loan and business develop- A ment skills desired. O pen^ REAL ESTATE Enjoys county seat or smaller communities. Revamped an ag/real estate dept in $35M bank reducing sta ff and in creasing loans. Has a knack for getting the most out of his subordinates and takes pride in work. Degree, bank ex amining exp. $37K. LOAN REVIEW - large urban bank affiliated with major midwestern holding company. Degree and 2-3 yrs. loan review/workout experience desired. $30K VP Mgr w ith technical efficiency. Can get the job done! Spent last 3 years as #2 in a $45M ind bank overseeing lending and operations. $36K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS ROBERT HALF OF IOWA. M O. 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID TRUST OFFICER - medium size community bank with growing trust dept. JD preferred but not mandatory. $27K COL. GORDON E. TAYLOR COMML LOAN -$100MM community bank. Supervise com- ® mercial lending function. Future advancement possible. $45K Box 949 - Mason City, la. 50401 515/423-5242 Additional positions available in midwestern states for experienced bankers. Professional Auctioneer Real Estate Broker and Appraiser 2024 Swift • Box 12346 North Kansas City, MO 64116 816/474-6874 TOM HAGAN & ASSOCIATES “Serving the Banking Industry Since 1970” Vol. 16 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 Moines, Iowa. Address all mall 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