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Vol. 17 No. 27 Des Moines, Iowa Senate Sends Card Bill to House HE United States Senate passed the Fair Credit and Charge Card Disclosure A ct o f 1988 last Tues day, October 11, and sent the con ference com m ittee bill to the House where approval was expected to be given immediately. The Credit Card Bill provides for earlier disclosure o f all pertinent data so that an individual being solicited for or applying for a credit card may have advance information on which to base a decision. This data must include the interest rate, grace period, annual fee, balance com putation method, minimum fi nance charge, transaction fee, cash dvance fee, late fee, and over-the!m it fee. The original bill, according to the IB A A bulletin to members, included only the first three items, but Cong. Schumer (D., N.Y.) insis ted on the longer list. An A B A spokesperson said A B A is pleased with the bill because the original language calling for credit card caps was dropped entirely and the subject o f disclosures was sub stituted. The bill also establishes these norms on a national base, pre em pting any exising state laws governing credit card disclosures. T * * * Meanwhile, H.R. 5094 continues to be bogged down and it appears at this time that this bill to provide for expanded powers to commercial October 17,1988 Honolulu. He succeeds Charles H. Pistor, chairman and chief executive officer o f N orth Park National Bank in Dallas, Tex. Mr. Rideout is vice chairman o f First Union National Bank o f North Carolina, Charlotte. S u cceed in g M r. R id eou t as president-elect is C.G. “ K elly” Holthus, president and chief execu tive officer o f First National Bank in York, Neb. Mr. Holthus had been nominated as president-elect earlier in the year. He has had extensive service in the A B A Community Bankers D ivision and on the Government Relations Council. L.W . “ B ill” Stolzer, chairman and chief executive officer o f Union Na tional Bank and Trust Co. in Manhattan, Kan., will serve the se cond year o f his two-year term as treasurer. Continuing as chief executive of ficer o f A B A ’s professional staff in W ashington, D.C., is Donald G. Ogilvie, executive vice president. □ banks is dead for this session o f Con gress. Senate Banking Committee Chairman Sen. Proxmire (D., W is.) needs time on the floor to get ap proval to forward his bill to the House, but jurisdictional battles there and especially in the House make action unlikely at this time. Various com m ittees and amend ments in the House have made the original bill so unacceptable to the banking industry, because o f their restrictive and punitive nature, that the industry is cam paigning heavily to have the entire bill derailed in this session. In its W ashington W eekly Report, IB A A says the ProxmireTreasury proposal would “ carry an additional price for the nation’s com munity banks: revised Community A ct provisions, lifeline banking, m an datory govern m en t ch eck cashing which opens the door to in creased fraud, truth in savings (to complement Chairman Proxm ire’s Iowa News late 1970s truth-in-lending initia tive) and home equity disclosure. FORT M ADISON : James C. Sodey W hat have com m unity banks done has been elected president and CEO to deserve this?” □ o f Fort M adison Bank & Trust Co. He was president o f the Iowa State Bank, Fort Madison, until its sale to ABA Elects Officers State Central Bank, Keokuk, in Ju Thomas P. Rideout was officially ly. He has been in banking since elected president o f the American 1971, serving in various positions in Bankers Association during the first the Hawkeye Bancorporation bank general session o f the A B A conven ing group and the Central Bank o f tion last M onday, O ctober 17 in Denver. FirsTier More of what it takes Correspondent Services to serve you well. ^5 ^ ^ =sr =33? ^ F irs T ie r B an ks FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lincoln • Omaha 2 11:30, with luncheon and presenta tions following. For more informa tion, call Kirk Hovendick or Dorren DeVries at (402) 476-1216. Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST BANKS im i Member FDIC WM'IMM Illinois News Teamwork: one of the reasons we're first in Iowa. Jay Nichols John Cretzmeyer M ANLY: John A . Bleakney has been named president and director of First State Bank, Manly. He joined the bank from First Inter state Bank o f Mason City, where he m ost recently served as vice presi dent in lending. Nebraska News The Nebraska Bankers A ssocia tion will sponsor a Compliance with Federal Real Estate Lending Regu lations Seminar on November 9 at the Kearney Ramada Inn. Speakers will be W ayne L. Barnes and Chris Bryant o f Professional Bank Ser vices, Inc. Registration/continental breakfast will be at 8:00 a.m., with the seminar running from 8:30 to 4:00. Registration fee is $70 and in- cludes breakfast and lunch. A fter November 1, fee will be $90. Contact the N BA office to register. LINCOLN: Norwest Corporation has received approved to open a new bank in Lincoln. It expects Norwest Bank Nebraska Lincoln, N .A. will open for business on October 31. The bank, N orw est's first in Lincoln, will increase to 16 the number o f Nor west banking offices in Nebraska. It will be located at 12th and O Streets, in the Centerstone Building, and the phone number will be (402) 434-6103. President and CEO o f the bank will be Paul D. Kadavy. He previously served as senior vice president at the Norwest Bank in Omaha, and joined Norwest 18 years ago. LINCOLN: Peat Marwick Main & Co. will present its Ninth Annual Bank Seminar on O ctober 28. The seminar will focus on the banking business environment. Topics in clude: accounting and income tax update, em ployee benefits, tax penalty exposure review, Federal Reserve update. The seminar will be held at the H ilton H otel in down town Lincoln. Registration begins at MNB Correspondent Banker Call 319-368-4204 or toll free 1-800-332-5991 O AK PARK : Martin J. Noll has been named president and CEO of The First Chicago Bank o f Oak Park. Prior to joining the bank, he was president and CEO o f Security Chicago Corp. and its subsidiary, First Security Bank o f Chicago. Minnesota News The Minnesota M etro A IB has announced seminars for October. Dates and topics are: Oct. 1 8 Collateral Docum entation; Oct. 19— ThereJs A Difference In Banks... Valley National Bank ¡5 Main Office - Sixth and Walnut DES MOINES. IOWA 50304 A BANKS OF IOWA BANK Member FDIC JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President Holding company formations and other management services Strength Eastern |owa Digitized forMerchants FRASER National Cedar Rapids. Iowa 52401 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CHICAGO: Am ong recent promo tions at the Exchange National Bank o f Chicago were: W ayne Veselsky, first vice president, metro politan division F; Veda Briley, vice president, inform ation services; Jim M clnem ey, Cindy Murray and Joan Schellhorn, v ice presiden ts in human resources. For Professional Correspondent Service Call 1-800-622-7262 Bob Louvar Together We Can Accom plish Great Things CHICAGO: The Illinois Bankers Association has announced several staff prom otions. Julie Mueller was prom oted to vice president, publica tions. She has been with the IB A since 1983, m ost recently as director of publications. M. Bernadette Pat ton was prom oted to vice president of the Illinois BancService Corpora tion. She started at the IB A in 1985 and was director o f the education department. Olga Di Legge has been prom oted to vice president, accoun ting and inform ation system s. She was hired as director o f that depart ment in 1985. SWORDS ASSOCIATES. INC. P R O F E S S IO N A L B A N K IN G C O N S U L T A N T S Bank isi BANKS OF IOWA BANK 2 Brush Creek Blvd. Kansas City, MO 64112 (816) 753-7440 OVER 60% OFALL BANKSIN OUR MARKETAREAARENOWINSURED BY THE KANSAS BANKERS SURETY COMPANY That’s R ig h t. . . In th e nine states w e serve w e h ave solved th e b on din g needs for 6 of every 10 banks. Thafs over 16.4% 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 COM PANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DONALD M . TOW LE President DAVID E. ABENDROTH Senior Vice President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 0 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES Serving th e H e artla n d of A m eric a since 1 9 0 9 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OVER 60% OFAU BANKSIN OURMARKETAREAARENOWINSURED BY THE KANSAS BANKERS SURETY COMPANY That’s R ig h t. . . In th e nine states w e serve w e h ave solved th e b on din g needs for 6 of every 10 banks. That's over 16.4% 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 COM PANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DAVID E . ABENDROTH Senior Vice President DONALD M. TOW LE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1 -9 1 3 -2 3 4 -2 6 3 1 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, ^ DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES Serving th e H e artla n d of A m erica sin ce 1 9 0 9 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ö [First Interstate Bank l/l/e go the extra mile for you 1 800 362-1615 - Randy Steig Ralph Weickel Correspondent Services Investment Services Know Your PC; Oct. 19—The Older Bank Customer; Oct. 25—Legal Issues in M anaging D ifficult Em ployees. COTTAGE GROVE: First Bank System has com pleted its previous ly announced agreement with Cot tage Grove Bancorporation to ac quire Minnesota National Bank o f Cottage Grove. Dennis M orris will continue as president. FBS will now seek regulatory approval to make the new First Bank Cottage Grove a branch office o f First Bank. A s o f year-end 1987, the bank had assets o f $32.1 million. ^ 9 0 _ ® - stitutional and corporate trust acti vities. Prior to joining Norwest, he was head o f the second m ortgage division o f Citicorp M ortgage, Inc., St. Louis, Mo. ST. PAUL: The St. Paul office of Robert H alf and Accountem ps has moved to new offices at 2010 M eritor Tower in Town Square. Their phone number is 612-2276531. the program running from 9:00 to 4:30. Fee is $105. Contact the SDBA to register. * * * The SD BA will sponsor a seminar en titled “ I R A 88 C om pliance Issues” on December 8 at the Cross roads in Huron. Collin Fritz and A s sociates will present the seminar. Registration opens at 8:30 and the meeting runs from 9:00 to 4:30. Fee is $105. Contact the SD BA to register. W ATSON: The FDIC has approved the assum ption o f the deposits and other liabilities o f W atson State RAPID CITY: Charles T. Undlin Bank, W atson, by Minnwest Bank has been elected vice chairman o f M ontevideo. W atson State Bank, M IN N E A P O L IS : F irs t B ank with total assets o f about $13.4 Rushmore State Bank. He previous System has announced the prom o million, was closed on September 30 ly served 17 years as president, tions o f David Edstam to senior vice and reopened O ctober 3 as a branch director and CEO o f Norwest Bank ^president o f treasury and Joseph M. of Minnwest Bank M ontevideo. The Rapid City. He will assume his new Ulrey III to senior vice president of M ontevideo bank will assume about position in early November. His a sset/lia bility m anagem ent and $11.8 m illion in deposits and has responsibilities will be primarily in financial forecasting. These divi agreed to pay the FDIC a purchase business developm ent and the for sions, which together were form erly premium o f $166,000. It also will mulation o f organization and opera tions policy. called funds management, were purchase approxim ately $7.9 million headed by Claire Canavan, who has of the failed bank's assets, including trasferred to the FBS Human $211,000 o f the bank’s small loans. Montana News Resources Group. Mr. Edstam join To facilitate the transaction, the BILLIN G S: First Interstate Bank ed FBS in 1986 and m ost recently FDIC will advance $5.1 m illion to o f Billings recently announced the was interim adm inistrative head o f the assuming bank and will retain the Capital Markets Group. Mr. assets o f the failed bank with a book prom otion o f Pete Cochran to head o f the retail banking area, and Ulrey joined FBS in 1982 and was value o f $5.5 million. Keith D. Cook to head o f the com v ice p re sid e n t, a s s e t/lia b ility m ercial loan departm ent. M r. m an agem en t an d fin a n cia l South Dakota News Cochran began his career with forecasting. The South D akota Bankers the bank in 1970 and m ost recently M IN N E APO LIS: Norwest Bank A ssociation will sponsor “ Introduc was head o f commercial lending. Mr. M innesota has appointed Joseph tion to IR A A ccounts” on Novem Cook joined the bank in 1984 and DeM eo to head a new finance and ber 2 at the Crossroads in fluron. has been a vice president in commer administration unit in support o f in Registration will begin at 8:30 with cial lending. ANNA LEE SCOTT WOULD LIKE TO GIVE YOU A PIECE OF HER MIND. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis As part of theBICS10-Point Service and Support System, you get your veryown executive account manager. One of these is Anna Lee Scott. Herjob is to make sure BICSgives your bank state-of-the-art data processing...and more. Oneway is withour management consulting service (point #6). We put our minds to work for you so you can serve customers better, operate more efficiently and keep ahead of your competition. To find out howtheBICS 10-Point Service and Support System can give you 100% support, 100% of thetime, call 1-800421-0059 or 1-800-332-5242 (in Iowa). 1 0 0 % SUPPORT. 1 0 0 % OF THE TIME. fT HE J waits B A N K IN G SY ST E M B ail 4333 Edgew ood Rd. N.E. P.O. Box 1847 Cedar Rapids, Iowa 52406 319/395-6600 WYSTl A Banks o f Iowa subsidiary 4 DOES YOUR BANK NEED AN INVESTMENT CENTER? • New high net worth customers • Added profit • Reduced deposit loss to competitors • Ability to offer complete financial services Your benefits: For information contact: INVESTMENT CENTERS 1-800-544-7113 First Dakota Building P.O. Box 2796 Bismarck, ND 58502 or P.O. Box 65697 West Des Moines, 1A 50265 <cdfoCdex a n d cd h .io cia tE .1 RYAN AUCTION CO., INC. Specializing in the Purchasing and Sale o f Banks 515-232-0814 405 Main Ames, Iowa 50010 Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319-382-8648 Donald E. Holder, Principal S E R V IN G T H E U P P E R M ID W E S T R egency R E C R U IT E R S , IN C . Diane Evans 1102 Grand Avenue, Kansas City, MO 64106 816/842-3860 POSITION AVAILABLE Fast growing S.W. Minn, bank Is in immediate need of an 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. WOP c/o North western Banker. (PA) Purchase of Collections Sale of Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest REAL ESTATE LENDER Origination and underwriting position with excellent posi tion with excellent Institution. Must have 4 years degree and prior lending. $25K. AG LENDER Open due to growth I Spot for 3-5 year ag lending with strong cash flow background. $29K. 913 Locust Des Moines, Iowa 50309 515-243-8064 CHOOLER |r ASSOCIATES "Successful Banking is Quality Personnel" PRESIDENT, $55mm + , country bank, needs mature administrator ........................... $65-75,000. PRESIDENT, $350mm, proven administrator, long range planning skills ............................... $100,000. PRESIDENT, $250mm, likes southwest con ference football, has administered large staffs .. ........................................ $90,000. COMMERCIAL LOAN MANAGER Senior lender position in dynamic city bank. Good com mercial lending and prior mgt. skills plusses. $45K. COMMERCIAUCONSUMER LENDER, college town, $10mm mixed portfolio, well regarded bank ..................................................................$25-30,000. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS PRESIDENT, $50mm, strong lending background, relates to farm customers ........................ $55,000. n w n .M C . 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 A L L F E E S C O M P A N Y P A ID Jean Eden 515-276-1151 Sandi Garner 515-832-1258 Tues / W ed / Fri 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 R E C O N D IT IO N E D BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402- 571-5577 CASHIER - Nebraska - Need 5 + years experience in operations and expertise in bank rules and regulations. $35-40K Dorothy Minister, CPC GUMBERT EXECUTIVE EXCHANGE 9802 Nicholas Street, Suite 370 Omaha, NE 68114 Phone: 402/390-0275 PRESIDENT, $70mm, well capitalized, highly rated, minimal charge o f f s ......................... $70,000. AQ LENDER, $5-10mm portfolio, operating & real estate c re d its ......................................... $26-28,000. o f Cali Jean or Sandi for complete details on these candidates. POSITIONS AVAILABLE SR. LENDER All around banker wanted. 7 + years consumer, real estate, deposits and com’l loans exp. required. $50K. ROBERT HALF AG LOAN OFFICER. 2 yrs. ag lending exp.; cur rently in $50MM la. bank w/no chance for advance 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. F O R SALE Ben E . M arlenee Coins POSITIONS AVAILABLE POSITIONS AVAILABLE 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 + Estate Appraisals FOR SALE Unisys B28 MICRO COMPUTER & B27 CLUSTER STA TION. This unit is about 1 Vi years old. Asking price $5,400, F.O.B. York. Call Ron Winquest at FNB-York Nebraska 402-362-7411, for further details. (FS) BANKING careers PRESIDENT, $60mm, turnaround or contract type candidate.....................................................$60,000. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 POSITIONS AVAILABLE TRUST MARKETING ■ large urban bank. Requires degree and trust experience. $35K REAL ESTATE LOAN - single fam ily residential and secon dary market experience required. Proximity of major metro area. $40K LOAN REVIEW - large bank experienced required. Both junior and senior level positions available. $28-$40K COMMERCIAL LENDING - V.P. positions in urban and large suburban banks. Personal portfolios from $20MM to $50MM. $40 K BRANCH MANAGER - handle small business and con sumer credits. Med-size com m unity affiliate of multibank holding company. $24K Additional listings for commercial lending and trust officers. Resume’ requested. TOM HAGAN & ASSOCIATES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 17 No. 27 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 mall subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden Digitized forSt., FRASER #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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