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Vol. 14 No. 26 Des Moines, Iowa October 14,1985 House OKs Farm Bill, S en ate to A ct HE long-awaited House Farm Bill was passed last week 282 to 141, retaining for the next five years the basic ag support program that has been in place. The Senate is ex pected to begin action this week on its version o f a Farm Bill, then the nitty-gritty final bill will really take place in a Senate-House conference committee. H overing over the entire farm leg islation effort is the threat o f a Presidential veto if benefits conflict sharply with the Adm inistration’s commitment to reduce the deficit and contain the budget. Earlier, the House rejected by wide margins a couple o f bills that included the Harkin Bill aimed at giving greater benefits to small farm owners. Sen. Tom Harkin (D., Ia.) had proposed the ill-fated bill. The House-approve measure last week basically retains target prices o f $4.38 per bushel for wheat and $3.03 per bushel for com . A t the same time, the Secretary o f Agricul ture would be authorized to drop the loan rate on wheat and feed grains up to 25% in any one year and 5% a year beyond that. Dropping the loan rate to make the market price com petitive with world markets is aimed at making U.S. crops com petitive worldwide. Com prices last week hovered slightly below and above the $2.00 per bushel mark. T Related to the target and market price factors would be a $250,000 maximum per producer for the non recourse feed grain loans, and a lim it o f $50,000 per farmer lim it on defi ciency payments. These lim itations would be accompanied by acreage restrictions o f a 30% cutback for wheat and 20% for feed grains in 1986, plus further acreage reduc tions if governm ent surplus rises. Such payment lim itations would be o f less help or incentive to large producers, observers say, and would reduce effective production control. The House bill also addresses other areas o f ag production such as soybeans (maintained at 75% of average market price and a loan floor o f $5.02 per bushel), dairy, con servation program s, exports and re search. A long-term program to re m ove erodible land from production includes incentive payments for compliance. The cost o f the House Farm Bill for farm price supports is estim ated at $12 billion a year, while the total bill, which includes the food stamp program and other m assive feeding program s, will amount to $141 bil lion. The Senate Farm Bill is expected to be taken up this week and ap pears to be $20 billion over the esti mated three-year target. The Senate will be walking a tightrope between the wishes o f Republican Senators up for reelection and a Presidential veto. □ I BAA Suggests Government Hold Trouble Ag Loans The Independent Bankers A sso ciation o f Am erica has recom mended to Congress that a new cor porate unit be established, either as a subsidiary to the Farmers Home Adm inistration or as a separate and free-standing entity, to purchase troubled assets from commercial ag banks and Farm Credit Banks. These loans would consist o f farm land loans now held by the banks, and other trouble loans held by the ag lenders. The new corporation would com pensate lenders for the real assets (farmland) based on the full ap praised value o f the farmland. Also, the corporation w ould purchase problem loans on a whole-credit-line basis, so that the entire outstanding debt owed the lender would be trans ferred, including all collateral and claims on receivables. The proposal would allow com mercial banks to amortize over a multi-year period the loss due to the discounting o f loans sold to the cor poration. The corporation would re duce the farmers debt accordingly. The corporation also would contract with the ag lenders to service the loans for a fee. YAKE, SPRENGER AND JENNINGS Getting it done for you. Ernie Yake Bill Sprenger Tom Jennings 234-2483 234-2625 234-2484 Commerce Bank (f Kansasoty https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER FDIC Tp|pnhnr»p Telephone tfvifxi (816) 'i'M.onnn 234-2000 * 2 Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC NORWEST BANKS ~l~eamwork: one of the reasons we’re first in Iowa. John Rigler Tom Quinlin tion to help support a series of teacher workshops on money and W EST UNION: Rodney L. Burnett banking being held at eight loca has purchased interest in Farmers Savings Bank o f W est Union and tions across Nebraska during O cto ber and November. The workshops will serve as president and a director provide inform ation to teachers o f the bank, effective October 1. about current banking issues in Adrian Rademaker, former presi dent, will continue as chairman and Nebraska, credit and savings, the a director. No other staff changes m oney supply and how m oney func are anticipated. Mr. Burnett has tions in our econom ic system . Sessions will be held from 5-9 p.m. been involved in banking since 1964 and a local banker has been invited in Jefferson and Eldridge and since to present after-dinner remarks at 1970 in W ilton. each o f the workshops. Over 400 teachers have registered for the workshops statewise, according to Nebraska News NCEE Director Bill W alstad. The Nebraska Bankers A ssocia N BA also offers six slide presen tion has donated $1,000 to the Neb tations designed for high school stu raska Council on Econom ic Educa- dents to bankers who get requests to speak in the local school system. These slide kits are made available on a free loan basis with minimal paperwork involved. Handout ma terials are also available at a nomi nal cost. For more inform ation con tact the N BA office and ask for PEP (Personal Econom ics Program). Iowa News * ASK GARY BARTLETT A BANKS OF IOWA BANK O M AH A: Edward M illet, one o f the founders o f Omaha State Bank and Southwest Bank and Trust Com pany, Omaha, passed away August 23 at the age o f 78. Minnesota News H ASTIN G S: A t the First National Bank o f Hastings, Karen L. Braun has been named vice president and cashier, succeeding Francis Larson. Ms. Braun has been em ployed by the CPA firm o f M cGladrey, Hen drickson & Pullen since 1980. Mr. Larson recently accepted a position as president o f the National Bank o f Glenrock in Glenrock, W yom ing. He served the Hastings bank for the past six and a half years. M IN N E APO LIS: Norwest Bank Minneapolis has announced the ap pointm ent o f five vice presidents: Eli Barkhausen, trust operations, trust institutional support; David Carlson and Ralph Stahl, institu tional services, investm ent division; BROKEN BOW : Ted L. Armbrus- L eonard W ohlm an, com m unity ter, president o f Nebraska State banking, financial institutions, and •Personal • Prompt •Professional Toll free 1- 800- 332-5991 Member F.D.I.C. * FR E M O N T: J.D . Schierm eyer, chairman, CEO and director o f First National Bank and Trust Company o f Fremont, has elected to take early retirement as o f January 1, 1986. His resignation from the bank and as a director was effective im m ediately. He was elected chairman and CEO o f the bank in 1979 and at that time was also elected chairman o f First State Bank o f Fremont and o f W estroads Bank o f Omaha. Mr. Schiermeyer will remain active in commercial banking as a director o f the W estroads Bank o f Omaha and as owner o f two Kansas banks. The N BA Head Teller/Teller Staff Conferences, originally scheduled for O ctober 22-24 have been post poned until April, 1986, due to a heavy conference schedule in O cto ber. A brochure on the conferences will be sent out in March. to make MNB work for you. Merchants A National Bank IS I # Bank from 1974 to 1984, died unex pectedly July 1 o f an apparent heart attack. Mr. Armbruster, 58, had been involved in banking for nearly 30 years. H. PETER DEROSIER Vice President Count On Our Correspondent Bankers Valley National B ank DES MOINES, IOWA 50304 Member FDIC A BANKS OF IOWA BANK Call toll free (800) 622-7262 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MARK CHRISTEN Vice President # Call on the “Experienced Professionals” F irst N a tio n a l L in co ln Ready to meet your - A FirsTier Bank m COrrQSpOndQnt ilGGdS. Anthony M ichog, special industries, Denver Energy Office. M IN N EAPOLIS: Two new vice presidents have recently joined the staff o f First Bank System: Mervin D. W inston, audit and examination division, and Virginia V. Kolstad, corporate risk manager. Mr. W in ston m ost recently served as presi dent o f the M etropolitan Econom ic Development Association, a consult ing firm to small businesses. Ms. Kolstad was previously associated with Cargill, Inc., where she served as casualty insurance manager. North Dakota News Three half-day Bank D irector W orkshops, sponsored by the North Dakota Bankers Association Educa tion Committee, have been sched uled for November. Don Jones of Financial Education and D evelop ment, Madison, W is., will lead o ff the afternoon sessions, follow ed by Scott Lawyer, an attorney from Jackson, M iss. Mr. Jones will cover strategic planning for banking suc cess and the future role o f bank di rectors in business development. Mr. Lawyer will speak on bank di rectors’ liability. Registration form s are available from the N D BA office in Bismarck. The dates and loca tions are as follow s: November 19—H oliday Inn, Dickinson; N ov ember 20—Andrew’s Steak House, Rugby; November 21—Doublewood Inn, Fargo. Wisconsin News On January 1, 1986, the new “ W isconsin Uniform Marital Pro perty A ct” will go into effect. In https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member. F.D.I.C. 13th & M Streets, Lincoln, N E 68501 sponsor three seminars in October to be held at various locations around the state. Dates for the seminars are: O ctober 16—Lac LaBelle Country Club in Oconom owoc; O ctober 29—The Quilted Bear in Germantown; October 30—The H oliday Inn in Waukesha. Check-in time is 6:30 p.m . with the seminars beginning at 7:00. For m ore inform ation contact F&M Banks. Montana News BILLIN G S: D avid R. Michael has been named president o f Norwest Bank Billings, N .A. effective O cto ber 15. He succeeds Jackson L. Schutte, who will becom e chairman and continue to serve as CEO. Mr. Schutte also serves as regional presi dent o f Norwest Corporation’s Re gion V III, which includes all o f the N orwest banking businesses in Montana. Mr. Michael joins the bank from Norwest Bank Omaha, N .A., Neb., where he held the posi tion o f senior vice president o f cor M ADISO N : First W isconsin Na porate banking, and manager for tional Bank here has announced that John A. Becker has been elected middle market banking for the cor chairman and will continue as chief poration’s Region V. executive officer, and James R. M ILES CITY: Lloyd W . Sohl has Lang has been elected president and joined the staff o f First Security chief operating officer o f the bank. Bank & Trust as an officer with Both appointments will becom e prim ary responsibilities as vice effective January 1, 1986. Mr. president o f the holding company, Becker has been president o f First Security Richland Bancorporation. W isconsin-M adison since 1979 and Mr. Sohl had been with Norwest in mid-1986 he plans to assume a Bank South Dakota since 1973 in new assignment with First W iscon Rapid City and m ost recently in sin Corporation. Mr. Lang has been Sioux Falls as senior vice president a first vice president o f the First and controller. W isconsin Corporation, Milwaukee, since 1979. Colorado News D EN VER: Jack A . Rychecky has been prom oted to senior vice presi CHEYENNE: Thomas F. Scranton dent at First Colorado Bank & has been elected president and chief Trust, in charge o f the commercial executive officer o f First W yom ing hanking division and responsible for Bank-North Cheyenne. He succeeds the management o f the commercial, Randall L. D ancliff, who was pro real estate and m ortgage lending de m oted to president and CEO o f First partments. W yom ing Bank, N. A.-Cheyenne last month. Mr. D ancliff will remain on ESTES PARK : Richard J. Stehly the board at North bank, in addition has joined First National Bank of to his new duties. Mr. Scranton has Estes Park as executive vice presi served the First W yom ing system dent and chief lending officer. Mr. since 1980 in Cheyenne and Kem- Stehly previously was with National Bank o f Commerce in Lincoln. merer. Wyoming News WANT ADS— Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER, 1535 Linden Suite 201, Des Moines, Iowa 50309. Phone 515-244-8163. POSITIONS AVAILABLE INVESTMENT OFFICER—for small regional mid-western bank. Needs 10 years experience. Investment portfolio of $250 million. Must have excellent credentials. Salary com mensurate with experience. Contact file WDS c/o, North western Banker. (PA) SENIOR VICE PRESIDENT - LOAN ADMINISTRATOR— Reports to Bank's Chief Executive Officer and is respon sible for planning, organizing, and directing the Bank’s overall lending operations. Must be knowledgeable in all facets of lending. Position has staff support of nine loan officers. Applicant must have excellent track record for se curing new business. Send resume and salary require ments, in confidence, to Personnel Officer, P.O. Box 1548, Minot, North Dakota, 58702. (PA) AQ LENDER—$28 million S.E. Iowa bank needs experi enced Ag Lender to oversee loan portfolio. Contact: Keokuk County State Bank, Sigourney, IA. (515) 622-2525. _______________________________________________ (PA) COMMERCIAL LENDER—$300MM NW Iowa bank has career opportunity for individual with 3-5 years lending ex perience. Background should Include college degree, credit analysis and people and business development skills. Send resume and salary history to: Personnel Of ficer, Security National Bank, P.O. Box 147, Sioux City, IA 51102. Equal Opportunity Employer. (PA) TRUST BUSINE8S DEVELOPMENT MANAGER—$1.3 billion metropolitan trust division needs an aggressive and dynamic professional to direct trust marketing program. 5-10 years experience and proven business development skills required. Contact Russell Jensen, Bankers Trust Company, 665 Locust, Box 897, Des Moines, Iowa 50304. _______________________________________________ (PA) SENIOR COMMERCIAL LOAN OFFICER to head up Com mercial Loan Dept. Excellent career opportunity. Contact Larry Geislnger, Senior Vice Pres., Hawkeye Bank & Trust, Spencer, IA (712) 262-1940. (PA) LOAN REVIEW—Career opportunity in major NW Iowa bank for Individual to assist In reviewing bank loan port folio. 2-3 years experience In loan review, credit, or bank auditing. Background in public accounting may substi tute. College degree with good analytical skills required. Send resume and salary history to: Personnel Officer, Security National Bank, P.O. Box 147, Sioux City, IA 51102. Equal Opportunity Employer. (PA) JUNIOR AG LOAN position open in a $45 million dollar bank In East central Iowa county seat town. A clean bank! Prefer two to three year ag loan experience. Send resume and salary requirements to File No. WDU, c/o Northwest ern Banker. (PA) OPERATIONS OFFICER TRAINEE position available In $45 million dollar bank in East central Iowa county seat town. Prefer banking background-with heavy emphasis on accounting. Potentially head operations department. Please send resume and salary requirements to File WDV, c/o Northwestern Banker. (PA) POSITIONS AVAILABLE CASHIER • Progressive MW bank near major metro area seeks operations head to handle G/L, cashier and some light lending duties. Community bank has excellent/well managed facility with a good ROA. $30K. AG LOAN OFFICER • Growing bank seeks top notch 2-3 yr lender with knowledge of FHA, cash flows and loan analy sis. High visibility. This $50mm bank can provide excellent long-term potential. $26K. PRESIDENT • Nationally recognized holding co has posi tion for CEO In a $35mm rural bank In strong ag area. Pro fitable institution with health loan portfolio. Excellent oppty for a professional with #2 or presidential expertise in a similar sized institution. $45K. Serving bankers quietly and efficiently. Financial Careers CAPITAL PERSONNEL SERVICE CEO for $60 million Independent bank In midwest. Excel lent opportunity for person with good track record............ ......................................................................... Salary $65,000. 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 POSITIONS AVAILABLE 2 AG LENDERS • 2-5 years experience. N.C. and W. Iowa. $25-35K. BRANCH MANAGER - Will be supervising opera tions for this credit union in E.C. Iowa. Need ex perience In consumer and R.E. loans. Bank experi ence is excellent. Degree preferred. To $32K. PRESIDENT - Need experience as a CEO of a small bank. Position Is in a$25mm bank in Central Kansas, near Wichita. To $50K. ALL FEES ARE PAID BY OUR CLIENT EMPLOYERS. Richard L. Beam, CPC QUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 Member National Personnel Associates We’re Nationwide FOR SALE BANK FOR SALE— Located In attractive Iowa county seat community. Reply to File WDT, c/o Northwestern Banker. _______________________________________________ (FS) BRANDT CURRENCY/DOCUMENT COUNTER. Like new. Call Marley (515) 756-3361. (FS) USED EQUIPMENT FOR SALE. LeFebure Vault Door, Safe Deposit Boxes, Dlebold Klask, Dlebold Night Depository Chest. If interested call Richard Moore at (402) 371-8005. (FS) "Successful Banking is Quality Personnel" POSITIONS AVAILABLE PRESIDENT $10mm bank, 8,000 population, lim ited ag, large growth potential ................. $50,000. VICE PRESIDENT, HEAD OF LENDING—$50mm bank, excellent town and location, strong organi zation ........................................................... $35,000. CHIEF EXECUTIVE OFFICER $15mm + bank, Ozark a r e a ................................................... $40,000. COMMERCIAL LOAN OFFICER $100mm-i- bank, excellent location, colleges, strong bank, middle market cre d its ...............................$30,000-335,000. PRESIDENT $50mm + bank, requires proven tech nical social, and leadership skills, independent bank, 20,000 population............................. $50,000. HEAD OF LENDING $200+ bank, requires mature administrator, 5 years In a bank over $100mm, 15 yrs. in banking, d e g re e ............................... $75,000. EXECUTIVE VICE PRESIDENT $90mm+ bank, strong commercial, some ag, population 30,000, high ROA bank ........................................... $50,000. CREDIT ADMINISTRATOR/LENDER $80+ bank, college town, independent b a n k ............... $40,000. ® 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID AQ LENDER for $45 million bank In northern Missouri. Pre fer two or more years experience plus college degree ___ ..................................................................... Salary to $30,000. COMMERCIAL LENDERS for Illinois banks located In North & Central a re a s .............................. Salary to $35,000. FARM MANAGER for $160 million Illinois ban k.................. ............................................................................. Salary open. AQ LENDER for major Central Illinois b a n k ........................ ................................................................. Salary to $35,000. #2 OFFICER for bank In university city.. . Salary to $42,000. COMMERCIAL MORTGAGE person for major multi-bank grou p................................................................... Salary open. AUDITOR for $180 million midwest bank. CPA a + but not required............................................................ Salary $25,000. CASHIER w/some lending exp. for suburban bank in la___ ..................................................................... Salary to $30,000. AG LENDER for $50 million Illinois bank. Salary to $35,000. Please call Malcolm Freeland or Cy Kirk In care of: NCR 775 16 POCKET, NCR 8271 COMPUTER, NCR 6420 PRINTER, NCR 670 CHECK SORTER, NCR 7121 MODEM, NCR CRT 796, NCR CRT C-7901. Call Randy or Ralph (712) 434-2289________________________________________(FS) WORLD’S LARGEST BANKING, DATA PROCESSING & FINANCIAL SPECIALIST a COMMERCIAL LENDER with three or more years experi ence for $75 million bank in midwest city of 100,000.......... ..................................................................... Salary to $35,000. CEO to head $10 million community bank. . . . Salary open. ALL AROUND BANKER $25mm bank, lending, op erations, administration, 10,000 population, high earnings b a n k ............................... $30,000-$35,000. ROBERT BMBLF TRUST OFFICER for $50 million bank in eastern Iowa. Must have law degree and two or more years experience . ..................................................................... Salary to $30,000. «2 PERSON for $100 million Illinois bank.Salary to $50,000. FOR FURTHER INFORMATION FOR THESE & OTHER POSITIONS RESPOND IN CONFIDENCE TO: KURT ROSENCRANTS AT (515) 244-4414 M> H ► H > SENIOR AG OFFICER for major midwest correspondent bank. Must have ag loan experience In larger bank___ ..................................................................... Salary to $42,000. Many years in bank management enables me to find the right banking environment for you, com pletely confidentially. Send your resume or phone: DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 66804 (417) 682-2265 Freeland Financial Service 1010 Equitable Bldg. Des Moines, IA 50309 515/282-6462 Employer pays fee. aqri carers,inc. -J AG BANKING PERSONNEL SPECIALISTS #3 OFFICER needed for $50MM ag bank In north east IA. Will be responsible for 60% ag and com mercial lending, 40% Installment and real estate loans. Requires 8-10 years bank experience with ag emphasis. Degreed. To $35K. AG LOAN OFFICER $60MM N. Central IA bank. Work with ag loans, recruit new business. Re quires 5 yrs. ag lending exper., good track record with proven lending skills, sales-orlented perso nality. To$35K. Call In confidence, without obligation. Fees paid by employers. Ag Banking Specialists: Unda Heit 5158948827 Jean Eden 515-2639598 W/F New Hampton, IA 50659 712-7793567 (M/T/TH) Massena, IA 50853 POSITIONS AVAILABLE AGRI-LOAN - senior lender for $40MM Ag Bank. Work out loan experience desired. $38K COMMERCIAL LOAN - middle management position with $100MM + suburban bank. Need two-four yrs. experience. $28K SECOND OFFICER - Ag-oriented bank with large cattle loan portfolio. Previous administration experience a plus. $40K COMMERCIAL/INSTAL. LOAN - community bank with large retail base. Time will be split evenly between com mercial and instal. credits. $25K CREDIT OFFICER • develop and oversee credit dept, for growing suburban bank. Good advancement possibilities. $20K ALL INQUIRIES CONFIDENTIAL. PLEASE FORWARD RESUME. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 14 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, $18.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mall items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis