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Vol. 10 No. 26 Des Moines, Iowa October 19, 1981 Sues to Stop A ll Saver Deposit Flow from State by Brokers HEARING is scheduled for the morning of October 19th in A District Court in the Polk County Courthouse in Des Moines on a suit petitioning for a temporary and permanent in junction against investment firms brokering depos it dollars from Iowans out of state and into the coffers of savings and loan associa tions and com mercial banks in T.H. HUSTON other states. The suit was filed by the Iowa Attorney General’s office on behalf of Thomas H. Huston, superintendent of banking, and John Pringle, supervi sor of savings and loan associations in the office of the state auditor. Defendants in the suit are Shearson/American Express, Inc., a Delaware Corporation; Boston Safe Deposit & Trust Company, a Massachusetts bank; Bache Halsey Stuart Shields, Inc., a Delaware Corporation; Great Western Savings & Loan Assn., a New Jersey federal association; World Savings & Loan Assn., a California association; Merrill Lynch Pierce Fenner & Smith, Inc., a Delawarecorporation; California Federal Savings & Loan Association; A .G . Edwards & Son, Inc., a Delaware Corporation; First National Bank in St. Louis; Paine Webber Jackson & Curtis, Inc., a Delaware corporation; Provident National Bank, Pennsylvania; Stifel Nicholaus & Co., a Missouri corporation, and Mercantile Trust Company, N .A ., St. Louis. The suit revolves around the solicitation and acceptance of money for deposit by brokerage firms in their Iowa offices and transmitting these funds to other states for purchase of All Savers certificates in banks or S&Ls in those states. It was alleged this activity began October 1 when All Savers certificates first went on sale at depository institutions under a law enacted by Congress. The staff of the Depository Institutions Deregulatory Commit tee in Washington, D.C., paved the way for brokerage firms to become involved, it was reported, when the staff stated on October 1 that brokers may cooperatively market the A .S .C .’s through depository institu tions and collect fees for finding such customers. After a complaint from an Iowa banker that the office of a brokerage firm in his city was soliciting money and sending it to St. Louis for purchase there of All Savers certificates in St. Louis banks, Mr. Huston and his staff investigated the situation in the state. Within an hour, Iowa Assistant Attorney General Howard Hagen was in ths superintendent’s office and in less than a week the suit was filed on October 8. Mr. Huston states that Iowa law “ prohibits any entity from receiving money for deposit which is not a state or national bank, private bank or savings and loan or credit union.” The suit also states that institutions receiving such money did so illegally because they were using brokerage houses as branches. It further contends that this activity violates the intent of law passed by Congress. To back up this latter point, Iowa Congressman James Leach has agreed to appear at the October 19 hearing in Des Moines to give first-hand testimony on the intent of the bill. “ If we don’t win this suit,” Mr. Huston warned, “ then it opens the doors to anyone to solicit funds without a depository institution license or supervision. What’s to stop any elevator, for example, from giving a farmer his check, then asking him to leave part of it there for deposit with a brokerage firm or financial institution anywhere in the country he can make a deal with? Brokerage firms could solicit any funds they need out of local communities and ship the money to money centers. Consider what that would do to local lending—business or agricultural!” The Iowa Bankers Association last C A LL O N TH E “PE R FO R M A N C E TE A M ” where common transactions are handled uncomm only well. I wwmiw FIRST NATIO NAL LINCOLN https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. 2 BANKERS PARTICIPATING T ea m w ork : O n e o f the reasons w e’re first in Iowa. KDWA-. nesivtoines Bemie Kersey ■ • 1■ M » NATIONAL BANK Member FDic week said it would file with the court as Amicus Curiae. The Iowa Savings & Loan League board of directors agreed last week to join as a party plaintiff if invited to do so by the state. Nebraska Director of Banking Paul Amen said the situation in Nebraska is being monitored closely. He said it is his understanding that brokerage firm activity is confined to transfer ring funds for clients from MMFs into All Savers Certificates, an activity apparently legal under the ruling from the DIDC. Des Moines attorneys for defen dants could not be reached at mid-week for comment on the suit. They were in New York conferring with their clients. Four Alabama savings and loans ASK JOHN MANGOLD to make MNB work for you. Toll free 1- 800 - 332-5991 Merchants National Bank 151 Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA' BANK Des Moines. Iow a 50312 R. L. “ DICK” SELLON • P.D. “ DUANE” DEVAULT Bob Peterson Vault An Affiliate of Northwest Bancorporation U LeasePlan, Inc. 545 - 31st Street Banco Call (515) 245-3131 or toll-free (800) 362-2514 filed a suit in federal court in that state against Merrill Lynch & Co., seeking an injunction to stop the firm from offering All Savers through California Federal Savings and Loan Assn., Los Angeles. That suit seeks $1 million in damages and stipulates that Merrill Lynch is not a “ qualified institution.” A Birmingham judge said he would not rule on the restraining order until the prelimi nary hearing on October 21. A Merrill Lynch spokesman in New York said his firm would not have offered the A .S. without clearance from the DIDC and the Federal Home Loan Bank Board. O Bank as a vice president-commercial and agricultural lending. The past three years Mr. Green has served as an assistant national bank and national consumer examiner for the U.S. Comptroller of the Currency. POMEROY: A .J. McGowan, 79, retired executive vice president of the Pomeroy State Bank, died recently. He was employed in the trust department of the Toy National Bank in Sioux City for 30 years before joining the Pomeroy bank. He retired in 1973. Minnesota News FA IR FA X : Citizens State Bank has been purchased by the Cornell family of Hector, also owners of Fidelity State Bank of Hector and three other banks. Charles H. Cornell, the family member in contact with Citizens, said directors and staff will include Fairfax community members. Iowa News IRONTON: American National Bank DECORAH: The Decorah State of Brainerd officially opened its new Bank is celebrating its 75th Ironton branch recently with grand anniversary this week and through opening festivities led by Tom October 26th. Bank President Wm. Johnson, president. P. Ronan also is celebrating his 58th year in banking, all of it with Decorah MINNEAPOLIS: Elected vice pres idents with First Bank Systems, Inc. State Bank. are Gordon W . Nelson-marketing, DES MOINES: Lance D. Davenport, and Elaine B. Sloan-human resour senior vice president-Iowa banking ces. Elected assistant vice presidents group, is resigning that post at the in the human resources division are Iowa-Des Moines National Bank to Paul D. Anderson, Carol A. Correa accept an appointment as senior vice and Dennis A. (Dan) Culey. president and second man at First National Bank of LaCrosse, Wis. MONTEVIDEO: The public is Both banks are members of the Banco invited to an open house Saturday, holding company. Mr. Davenport is October 24 to tour First National scheduled to move to LaCrosse about Bank’s recently expanded and remodeled facilities. The grand November 1. opening will be held from 10 a.m. NEWTON: Donna J. Green has until 5 p.m. Tours may also be taken joined the First Newton National during regular banking hours Octo- Single System Banking With A vailability Availability of funds. .. availability of people... responsive to your needs. National Bank of Waterloo Waterloo, Iowa 50704 Member FDIC Phone Milt Hennick at 1-800-772-2411. Supplement to Northwestern Banker Newsletter 10-19-81 Carleton D. Beh Company Investment Bankers / Financial Consultants 1300 Des Moines Building / Des Moines, Iowa 50309 515 / 288-2152 We own and offer subject to prior sale and change in price the follow ing Pledge Orders: AMOUNT $600,000 $750,000 YIELD MUNICIPALITY MATURITY HARLAN, IOWA Electric Revenue Pledge Orders Interest: 6-1 and 12-1 10.00% 6-1-82 KEOKUK, IOWA 10.00% 6-1-82 Water Revenue Pledge Orders Interest: 6-1 and 12-1 m ^ $300,000 ROLAND, IOWA Electric Revenue Pledge Orders Interest: 6-1 and 12-1 10.00% 12-1-82 $175,000 SAC CITY, IOWA Sewer Revenue Pledge Orders Interest: 3-1 and 9-1 10.00% 6-1-82 $500,000 SANBORN, IOWA Sewer Revenue Pledge Orders Interest: 6-1 and 12-1 10.00% 12-1-82 $400,000 TIPTON, IOWA Electric Revenue Pledge Orders Interest: 6-1 and 12-1 10.00% 6-1-82 $200,000 WAVERLY, IOWA Sewer Revenue Pledge Orders Interest: 6-1 and 12-1 10.00% 6-1-82 $100,000 WEST LIBERTY, IOWA Electric Revenue Pledge Orders Interest: 6-1 and 12-1 10.00% 12-1-82 IN THEOPINION OFCOUNSELINTERESTON THESE PLEDGE ORDERS IS EXEMPT FROM ALL PRESENT FEDERAL INCOM E TAXATION AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. Pledge Orders are issued in accordance with the provisions of Chapter 384, Code of Iowa, 1981, as amended, to provide funds necessary for the construction of improvements to municipal utilities. In the opinion of counsel, Pledge Orders are subject to the first lien of outstanding debt, if any, and together with such outstanding debt are payable solely and only from the future net revenues of the respective municipal utilities. The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not still be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Division of H u tto n & Company Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis lYO U R NAI NAME & Tax Saver Tips for Income Tax and Estate Planning logo Help your customers with taxes and estate planning by putting a copy of FARM TAX SAVER in their mailbox every month and they won’t forget you. A FARM PROGRESS „ PUBLICATION Get ready to use the new tax law The new tax law: How will it affect your 1981 year end plans? How will it affect longer range tax plans? How will it affect your estate planning? Those are things you’ll want to face now. They can result in some good money savings. . .if you use them. You may get extra depreciation and investment credit on purchases such as machinery yet this year. So look the changes over now. Tax rates are cut The 5% reduction in tax rates takes affect October 1. It will be fol lowed by a 10% cut July 1, 1982. Those dates are significant in figuring out the actual reduction in tax rates each year. For example, the 5% cut for one-fourth o f this year boils down to only a 1.25% actual tax cut for 1981. The 10% cut for half o f 1982 boils down to a 5% cut for the year. The two cuts together will then total 10% for 1982. Adjust your income for best savings For your year end tax planning, a general guideline would be to lower taxable income a little more than usual in 1981 even if it means letting it go a little higher in 1982. That’s because tax rates are higher in 1981. . .each dollar is taxed at a higher rate, each dollar o f deduction is worth more. . .than in 1982. An example: Suppose the last $1000 o f taxable income was taxed at a 37% rate before the tax change. Tax on it would have been $370. With the 1.25% NO POSTAGE NECESSARY IF MAILED IN THE UNITED STATES BUSINESS REPLY MAIL FIRST CLASS PERMIT NO. 279 DES MOINES, IOWA POSTAGE W ILL BE PAID BY Farm Tax Saver A Farm Progress Publication 2001 Spring Road Oak Brook, Illinois 60521 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis “FARM TAX SAVER is equal to the Kiplinger Tax Letter which c o st m e $ 4 2 per year." J. B. - W isconsin “FARM TAX SAVER looks like a m ost practi cal and useful new sletter fo r both taxes and estate planning " M. A . - Kansas “G et m ore mail than I care to read now . Too much repetition• I read it and changed my m in d " V. A . - Kentucky Farm Tax Saver is a monthly newsletter to keep your customers informed on • estate planning updates • m ore tax savings on machinery • avoid pitfalls o f join t tenancy ownership tax changes • how gifts can slash your estate taxes • pay your children fo r work they do on the farm • Order the Farm Tax Saver monthly newslet ter today and for every copy you order, we will supply FREE a new booklet “ Estate Plan ning for Farm Families, Revised” . This is the booklet that covers in detail what the new tax and estate planning under the Economic Recovery Act of 1981 signed by Reagan and how it will affect your clients □ Yes, Send Me A Compli mentary Subscription For Three Months. No Obligation Bank Title □ Yes, Contact Me Address https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Phone Zip cd foid sx a n d c^J’±,±oaLate,i. We’re people who can help with ag lending. Bank Consultants Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 For ag lending, data processing, overlines, and investment services . . . we’re the people who can help. D onald E. H older , Principal We’re more than western Iowa’s largest bank. W e’re people. ber 26 through 30. Ken Roeder Correspondent Bank Officer MONTEVIDEO : Northwestern State Bank held an open house recently to give the public an opportunity to tour the building, which has undergone extensive expansion and remodeling during the past year. 712/277-6580 SECURITY N ATIO N AL BANK IN SIOUX CITY, IOWA. MEMBER F.D. I. C. Ramada Inn at Kearney. Registra tion will begin at 8:30 a.m. October TWO HARBORS: Larry L. Larson 21. The program will begin at 9:30 has been appointed vice president of a.m. and adjourn at 5 p.m. The First Northwestern Bank. He second session October 22 will run succeeds Dan Watters, who has from 8:30 a.m. to 12:15 p.m. A panel transferred to Dakota Northwestern discussion Wednesday afternoon will Bank in Bismarck, N.D. Mr. Larson feature representatives from the joined First Northwestern in 1979, state’s largest savings and loan, working primarily in lending depart Merrill Lynch and Mutual of Omaha ments. insurance company, who will discuss the different products and financial Illinois News services their institutions offer and The Illinois Bankers Association what competition that represents for will present its 44th annual Trust banks. Other topics to be covered Conference October 20-21 at the during the conference will include Springfield Hilton. A complimentary principles of marketing planning and luncheon will be held at noon October budgeting, and using human resour 20. The first general session will ces in bank marketing. begin at 1:30 p.m. and will adjourn at approximately 4:30 p.m. Á compli HARRISON: Approval has been mentary reception will be held from received from the regional adminis 5:30 to 7:00 p.m. Breakfast will begin trator of national banks for the Sioux at 7:30 a.m. October 21, with the National Bank to build a new banking second general session beginning at 9 building here. The 3800 square foot a.m. Following a luncheon, at 2:30 structure will be located on Main p.m. concurrent workshops will be Street. The contract for construction held until the conference adjourns at was awarded to Structural Designs, Inc. of Holstein, Iowa. Completion of 4:30 p.m. the new structure is expected by late summer of next year. Nebraska News The Nebraska Bankers Association will hold its annual Marketing Conference October 21-22 at the Estate Appraisals Purchase of Collections Sale o f Rare Coins R e lia b le and respected service fo r over 20 years LEIGH: Steve R. Ausdemore has joined the Bank of Leigh as assistant vice president, according to Charles Mullenhoff, president. Mr. Ausde more was previously with the Crofton State Bank. MINDEN: Richard J. Terwilliger has assumed the presidency of the First National Bank, succeeding the late Dale Wells. Mr. Terwilliger has been president of the Citizens State Bank in Decatur the past 13 years. U sed by bankers throughout the m idwest Ben E . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. ■ ■ I Please Contact: J. Mason Henry Charles E. Waiters C o., Inc. 39GingerWoods Road, Valley, Nebraska68064 Phone: (402) 553-6400 1 1980 Security National Bank South Dakota News SALEM: Alex Knox has joined the McCook County National Bank as vice president. He was previously with the Valencia Bank in California, and is the son of Boyd Knox, owner of McCook County National Bank. North Dakota News WILLISTON: Oscar Haugen has been promoted to vice presidentinstalment loans at First National Bank & Trust Co. Mr. Haugen joined First National in 1965. GET THE COMPETITIVE EDGE over savings and loan, credit unions, etc. This “ on-premise” system gives you complete inde pendence, competitive flex ibility and control. Get tighter instantaneous reporting in every phase of you r o p e ra tio n . At the sam e tim e reduce you r operating costs. A program for your every need — and m ore. The best banking system in the industry. . M odern B anking S ystem s, Inc. 6818 Grover St., Omaha, Nebraska 68106 (402) 392-0151 BANKSFORSALE B A N K O W N E R SH IP C H A N G E S — Our Specialty— SELLERS - if you already have a buyer for your stock and there is a question of whether or not it is a fair price - we can make an indepen dent appraisal. BUYERS - if you are about to purchase controlling interest in a bank and there is a question of whether or not it is a fair price - we can make an independent appraisal. Those wishing to buy or sell - we can do the job for you if you are serious. CROWN BANKING SERVICES 325 W. Prospect Avenue Mt. Prospect, Illinois60056 (312)392-5151 SKI TH E S U M M IT !!! New, three-bedroom, three-bath units available for sale or rent. Each unit has its own redwood hot tub on the deck. Contact: Dwayne Smith Paradise Properties, P.O. BoxS Dillon, Colorado 80435 Phone 303/468-5846 Give Fam ily Portraits F or Christmas —At No Cost To Your Bank— Individual wants to acquire Iowa or Nebraska bank. Contact: Mike Keim, 9691 Meadow Drive, Omaha, NE 68114. Phone (402) 397-5161._______________ (WTB) FOR SALE MOVING TO NEW QUARTERS. W ill sell walnut teller screens and walnut base panels. Units are twenty years old, traditional style. Available mid 1982. 8x10 color photos available. Would like to see these nice items continue to be appreciated in another bank. M.J. O’Brien, Cashier, The Old Second National Bank, P.O. Box1088, Aurora, Illinois60506.__________ (FS) POSITION AVAILABLE EXPERIENCED TRUST OFFICER needed in the area of personal trust administration, estates, and employee benefit plans. Growing department ($60 million) in $100+ million bank. Salary open. Send resume to John L. Calton, Senior Vice President and Trust Officer, Peoples Bank and Trust Company, P.O. Box 360, Waterloo, Iowa50704.___________________ (PA) SVP/OPERATIONS of $93 million bank in Des Moines. Contact Larry Wenzl, Pres., Capital City State Bank. Phone515/244-5111.___________ (PA) LOAN OFFICER— Experience in installment, agriculture, and commercial lending for this growing $18 million south central Nebraska bank. Some trust experience would be helpful. Salary open. W rite file OBN, c /o Northwestern Banker.______________ (PA) BRANCH MANAGER for $50 million bank in central Iowa. Responsible for operations including loans, teller and customer service. Write file OBM, c /o Northwestern Banker._______________________ (PA) AG LENDERS with two or more years experience wanted by community banks in several midwest locations. Write or call Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, la. 50309. Phone 515/282-6462. Employer pays fee.________________________ (PA) FULL-TIME EXECUTIVE DIRECTOR for Independent Community Banks of North Dakota. Minimum of 4 years commercial banking experience, or previous banker’s association experience as Director or Assistant Director. Position available immediately. Salary negotiable. Send resume to: Duane Anderson, Liberty National Bank & Trust Company, P.O. Box 1118, Dickinson, ND58601. (PA) B A N K IN G PLA CE M EN TS “ Successful Banking is Quality Personnel” Eighteen years banking experience serving as president of rural and metropolitan banks enables me to find the “ right” banking position for you as a banker or the “ right” officer for your bank. DON ^C H O O L E R In AND I P ASSOCIATES 901 A. West Jackson* Ozark, Missouri 65721 417/485-6020 COMPLETELY CONFIDENTIAL “ Employment Service” INSTALLMENT - BA degree in business Admin. Branch mgr with primary resp of installment lending. $ 20, 000. G.L. FranklynCo. 815-877-7877 Robert Joyes, General Manager 5413N. SecondSt., Rockford, III. ASST V.P. - BA degree with finance major. Lending capacities in all areas. Also exp in operations and marketing. $26,000. Reservations by Oct. 24 TRUST OFFICER - Over 11 yrs exp with major emphasis in Trust Admin, New Business development and Investments with the overall resp of the Trust Dept. $28,000. Serving Banks in Iowa, Illinois, IWisconsin and Minnesota since 1971 1 EXEC V.P. - 20 yrs banking exp with well rounded lending exp. Has served several yrs as bank compliance officer. $35,000. —TRUST POSITIONS— If you would like to evaluate your career potential, my clients in the midwest have trust and investment opportunities in the $18 thousand to $50 thousand range. Clients pay our service charge and relocation. Call or write: Gordon Mesley, Dunhill of Minneapolis Suite 1135,730-2nd Avenue South Minneapolis, MN 55402 ____________Phone 612/355-6451_______ (PA) POSITIONS A V A IL A B L E WANT TO BUY P A R T IA L LIST OF A V A IL A B L E APP LIC AN TS INTERNATIONAL DEPARTMENT: Experienced per son to head growing department of large mid-west bank. Should have experience in European travel. Salary $40-50K. LOAN & OPERATIONS OFFICER: Should have 10-15 years experience for this growing, $30MM bank in eastern Nebraska. Salary $30-35K. LOAN & COMPLIANCE OFFICER: $35MM eastern Nebraska bank needs person who can analyze financial statements, make loans and handle compliance. Salary $23-25K. SECOND OFFICER: Iowa bank of $40MM needs person strong in Agri and commercial lending. Must have Agri degree. Salary $30K. AG LENDER - Majored in Ag business with 4 yrs lending exp. Also exp with consumer loans and has insurance licenses. $23,000. OPERATIONS - BA degree and 1 yr banking experience. Familiar with all teller areas and financial statements. $12,000. FOR FURTHER INFORMATION RESPONDIN CONFIDENCE TO: Bank Division of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 A L L FEE S C O M P A N Y PAID POSITIONS W A N T E D CEO with 20 years exp. in all phases of commercial banking seeks new opportunity in Iowa, central or western M innesota.............................................. Salary$35,000 Ag Lender with two years exp. and Iowa State Univ. degree seeks central Iowa position . . . .Salary $23,000 Cashier with lending experience seeks second person p o s itio n ............................................................... Salary$28,000 TRUST OFFICER: Iowa bank needs an assistant trust officer. Law degree not required. Salary $20K. Ag Lender with college degree wants new situation in Io w a ..................................................................... Salary$25,000 SECOND OFFICER: $40MM deposit North Dakota bank needs experienced Agri business officer. Should be capable of advancement. Salary $32K plus bonus. Senior Ag Lender with 10 years banking, college degree................................................................... Salary$28,000 Above are some recent listings. We are a fee paid employment service specializing in banking and related industry. If interested in above or other situations, forward your resume in complete confidence. If you are seeking additional officers, let us know. We w ill forward our rates and guarantee. Reply to FINANCIAL PLACEMENTS, P.O. Box 13786, Kansas City, Mo. 64199, or 912 Baltimore, Kansas City, Mo. 64105. Phone 816-421-7941,____________ SERVING PROFESSIONALLY Banking, Financial & Business Personnel, lowaand Nationwide Capital Personnel Service 714U.C.B. B uilding, 515-283-2545 Des Moines, Iow a50309 Senior Loan Officer with insurance licenses................ ............................................................... Salary $30,000 Senior Loan Officer with major bank exp erien ce........ ............................................................... Salary $34,000 CEO in community bank with extensive experience ............................................................... Salary $37,000 Ag Lender in central Illin o is ................................ Salary$20,000 Installment Officer with finance company e x p ............ ............................................................... Salary $17,000 Generalist with loan exp., now in Wyoming, wants Mt. State jo b ................................................................ Salary$32,000 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, la. 50309. Phone 515/282-6462. Employer pays fee._____________________________________ POSITIONS A V A IL A B L E AGRI-LOAN - large midwestern bank seeks seasoned Ag Lender to expand dept. Must have handled m ulti-m illion dollar lines. $40,000 OPERATIONS - handle internal operations for $25MM rural bank. Excellent opportunity for creative, self-starter. $25,000 CORRESPONDENT OFFICER - prefer correspondent experience with expertise in Agri-credits. Degree required. $25,000 When it comet to agriculture, banking and personnel. . . go to the specialists — go to AGRIcareers, Inc. COMMERCIAL LOAN - addition to staff of $50MM suburban Iowa bank; 2-3 yrs. commercial lending experience required. $22,000 Progressive bankers pay us to find the people they need. INSTALLMENT LOAN - handle $3MM dept, for rural bank. Some knowledge of operations or auditing helpful. $18,000 2 Ag Loan Officers .. N .C. IA . $15-20,000 Ag Loan Off. /Oper.........N.E. IA . $20,000 Commercial Loan O ff... N .C. IA . $18,000 Cashier......................N.E. IA . $15-17,000 General / Ag Lending. . . O h io . $20-23,000 Sales&M ktg. Rep .. .W. N Y .$20-25,000 Ask the ag banking specialists what’s available without cost or obligation. NEW HAMPTON. IA 50659 MASSENA. IA 50853 I (515) 394-3145 (712) 779-3744 30/7G4REERS, INC. THE ORIGINAL AGRICULTURAL RECRUITER AGRI-REP - growing midwestern bank seeks college grad with 1-2 yrs. Ag lending experience. Future opportunity to head dept. $20,000 Additional positions available in metro and rural midwestern banks. To inquire, forward resume’ and salary history. TOM H A G A N & A S SO C IA T E S of Kansas City 2024 S w ift-S u ite 203 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970" Voi. 10 No. 26 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions $1.00 per copy, $15.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address [Form 3579], manuscripts, mail items to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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