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• Des Moines, Iowa Vol. 16 No. 27 October 19,1987 Secondary Market Is Now in Senate ^ A SENATE agricultural subcom- r \ m ittee is expected to approve ^ £ £ # # # # S.1165 early this week and pass it along to the full com m ittee for quick approval and then to the Senate floor for early action. S.1165 is the Senate version o f H .R. 3030, which the House passed earlier this month by the overwhelming m ajority of 365-49. Both bills would refinance the ailing Farm Credit System and also contain a section (Title III in H.R. 3030) that authorizes form ing a farm real estate m ortgage secon dary market. H .R. 3030 was passed only after Commerce Chairman John Dingell exacted concessions that some ob servers feel hamper the effective ness o f the secondary market. However, Ed Yingling, A B A ’s ex ecutive director o f governm ent rela tions, said the legislation is “ A giant step into the modern age o f agricul tural finance. It will bring many of the benefits o f the secondary hous ing market to farm communities. Farmers will enjoy lower loan rates, and fixed-rate, long-term m ortgages will once again be a reality. “ Lenders will benefit by being able to diversify their risks. And, the increased liquidity provided by Farmer M ac will enable lenders to provide more loans to the farming community. “ W e are pleased the Senate ag com m ittee has already begun work securities, all o f which are exempt from SEC registration and state on this im portant issue and we hope securities laws registration.” Mr. Barton added, “ W e believe it can enhance the House-passed version to make the secondary mar the result would be to increase the cost o f securities and hamper their ket provision even more effective.” One concession was deletion of sale enough to inhibit an early build the authorization for commercial up o f the 10% reserve, and would banks to underwrite Farmer M ac se deter a lower interest rate. In other curities. In its final version, H.R. words, it would add significantly to 3030 does not address this power. the rate cost. “ Our contention to Mr. Dingell Consequently, feels Floyd Stoner, federal legislative representative of and others is that our 10% reserve A B A ’s A g Bankers Division, the has to be in place before the m ort Glass Steagall A ct already permits gage corporation puts its guaranty banks to underwrite securities is on a package of m ortgages. The sued under the authority o f the Fed other agencies (Fannie Mae, etc.) do eral Farm Loan A ct. That A ct, Mr. not put up a 10% reserve like this Stoner notes, established what is one com ing from banks and life in now known as the Farm Credit Sys surance companies to protect the tem, and Farmer M ac, when char Treasury. This amounts to a 10% tered as an agency o f the FCS, capitalization, which is higher than would be under the same authority. SECON DARY M A R K E T .. . W eldon Barton, IB A A ’s Agricul (Turn to page 5, please) ture-Rural Am erica representatiw e to the Congress, told the N orth western B a n k e r , “ IB A A is Nebraska News pleased the bill got through the Balloting has been com pleted in House. There are some provisions we’d like to see im proved on the Se the Nebraska Bankers A ssociation’s nate side. Am ong our primary con poll on interstate banking. The poll cerns is the loss in H .R. 3030 o f our o f all Nebraska banks was con exem ption to SEC registration. This ducted by Touche Ross & Co. in Lin exemption was removed, in large coln, and a 98% response was re part, due to Congressman Dingell’s ceived. The Executive Council o f the objections. W e believe the exemp N BA will release the results on Oc tion is fully justified for we feel tober 29 at the Executive Planning Farmer M ac securities are fully com Conference at the Lincoln Hilton parable to Fannie Mae, Freddie Hotel. Mac, Sally Mae and other agency AU RO RA: A t the Farmers State Together We Can Accomplish Great Things Call Jerry Truck), MNB C orrespondent Banker 319-398-4306 o r Toll Free 1-800-332-5991 The------ Strength of Eastern _ |owa _ r Merchants National Bank m https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis who passed away in April. He pre viously served as the bank’s senior vice president. Mr. Darbro joined Farmers State in 1986 as vice presi dent. GOTHENBURG: The First State Bank o f Gothenburg has elected E.A. Cook III president and CEO. Former president Glenn Bartels re signed from the position and will continue with the bank as a vice president. W AU N ETA: Chosen to succeed John M. Green as president o f Wauneta Falls Bank is D avid C. Doll, who has spent the past year as an in vestm ent representatiw e in Oroville, Calif. He was president of Adams Bank & Trust, Ogallala from 1981 to 1986. Mr. Green has been appointed executive director o f Phi Kappa Tau fraternity in Oxford, Oh., but will continue on the bank’s board. cultural Services, Inc. (M ASI), the 15-state bankers ag financing arm that is headquartered in Des M oines. It is a subsidiary o f M ABSCO. * * * “ Operations—Im perative to Your Bank’s Bottom Line” will be offered by the Iowa Bankers A ssociation on Novem ber 4-5 at the H otel Fort Des M oines in Des Moines. Registration H ILD RETH : Arthur H. Fritson has on the 4th begins at 9:00 a.m. and been elected president o f the State the conference runs from 10:00 till Iowa News Bank o f Hildreth, succeeding Ken Edward L. Tubbs, 67, was ap 5:00 p.m. On the 5th the programs neth Frerichs, who died August 14. pointed O ctober 12 as Iow a’s next run from 8:30 until 3:00. Featured Mr. Fritson previously served as the superintendent o f banking and will topics include financial institution bank’s vice president, and is suc take office on November 1. He will bonds, data processing, ATM s, pro ceeded in that position by Douglas succeed W illiam R. Bernau, 56. Mr. duct pricing, and the future o f opera Mietzner, who continues in his Tubbs is chairman o f both the Ma- tions. Advance registration is $150 duties as cashier. quoketa State Bank at M aquoketa for members, $190 for subscribers OXFORD: The FDIC has approved and the First Central State Bank in and $225 for nonmembers, $20 addi the assum ption o f the deposit liabili D eW itt. Mr. Bernau is chairman tional after O ctober 23. Register ties o f Security State Bank, Oxford, and president o f Peoples Savings through the IB A office. by Union Bank and Trust Company, Bank in Crawfordsville, the Iowa CHARLES CITY: The com bination Lincoln. The failed bank’s sole office State Bank and Trust Co. in Center o f two Charles City banks was com reopened on O ctober 2 as a branch of Point, and the Walker State Bank in pleted on O ctober 9. The Citizens Union Bank. It has assets o f about Walker. Mr. Bernau has served as National Bank purchased certain $11.3 million. Union Bank will superintendent since January 10, assets and assumed certain liabili assume about $11 m illion and has 1986. ties o f the Commercial Trust and agreed to pay the FDIC a purchase Mr. Tubbs was president o f the Savings Bank from Banks o f Iowa, premium o f $252,000. It will also Iow a B ankers A sso cia tio n in Inc. O.J. Tom son is chairman of purchase assets o f the failed bank 1980-81 and is a co-founder and Citizens National, and Colin B. for $8.0 million. To facilitate the former president o f M A B SCO A gri Robinson is president. Dan N. Frudden is newly appointed vice presi dent o f the bank and former vice president o f Commercial Trust. Citi For Professional Correspondent Service zens hired four officers and five Call 1-800-622-7262 employees o f Commercial. Com bined assets o f the banks are $99.7 million. cd~foCdzx and. c d ^ iio c L a tz i ThereJs A Difference In Banks... Bank Consultants Valley National Bank â Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 Main Office - Sixth and Walnut DES MOINES, IOWA 50304 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Member FDIC JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President D onald E. H older, Principal * BANKERS AVAILABLE NA-1 CEO— 30 years experience in finance, which includes 15 years as Bank CEO. Expertise in management and re -organization of troubled banks. Results include reducing classified & non-accrual loans, growth of assets & de posits, implementation of in-house computer system. Avail able immediately & will re-locate. $50,000. Call 515-394-5827. NM -6 MANAGER/L0AN OFFICER— Responsible for bringing troubled bank to profitability in a short period of time. Has management and operations experience as well as han dling a 5MM loan portfolio. Ag, Commercial, Consumer, and Installment. 11 years management and lending re sponsibilities. $30,000. Call 712-779-3567. • NM-7 VP/EVP— Extensive work in litigation and collections. Branch Manager experience and head of Installment and Real Estate Departments. Complete operations knowl edge. Excellent lending record. $38,000. Call 712-779-3567. NA-2 AG LOAN OFFICER— “ Hard worker, conscientious, ag gressive and motivated,” said reference. Over three years experience in installment & real estate lending with farming background. 2-yr degree in Agri-Banking. Prefers IA. • $20,000. Call 515-394-5827. NA-3 AG LOAN OFFICER— Bank & Finance Co. experience. Knowledgeable in financial statements, cash flows, com^puterized record keeping & FmHA guarantees. Trained in ® insurance and real estate. “ Common sense and sharp with numbers,” commented reference. 2-yr Degree in Credit & Finance. Will re-locate. $20,000. Call 515-394-5827. NM -8 AG LOAN OFFICER— Former President and CEO of credit union. 8 years lending experience, mainly in Ag with FmHA and consumer lending exposure also. Excellent documentation and litigation skills. Sharp, with a pleasant personality. Very good analytical skills, knows the lending field inside and out. f N A - 4 LENDING/SALES/MARKETING— Ten years experience in sales and six years experience as Farm Credit Manager. Skilled in marketing and merchandising. Has good com munication skills. A reference reported, “ very conversant in ag area...good fundamentals; did excellent job in public 0 relations and kept abreast with problems in ag market.” Masters Degree in Animal Nutrition. Prefers MO. $30,000-$35,000. Call 515 394 5827. NM-9 VICE PRESIDENT— Over six years lending experience, primarly with Ag. some consumer, Real Estate, and com mercial loans. Very good documentation skills. In depth experience in analyzing. “ He’s very outgoing and active in the community. He is easy to talk to and makes friends easily,” quotes a reference. Degree in Business Adminis tration. You would hate to have him as your competition. $30,000. Call 712-779-3567. NA-5 CONTROLLER— 30 years experience in management • of accounting and general ledger departments of bank. “ Excellent communication, presentation & technical skills; he’s dependable, timely and analytical individual,” quoted reference. Mature, skilled & experienced individual willing to re-locate in midwest. $30,000. Call 515-394-5827. NM-10 AG LENDING/VP— 4 years experience as vice presi dent, loan officer. Over 11 years total in lending. Knowl edgeable in all aspects of lending. Experience with FmHA and SBA. Strongest assets, Ag lending and Real Estate. BS in Ag Business. Solid Ag background, good opera tions. $30,000. Call 712-779-3567. We serve as the source to locate candidates who meet your qualifications and are interested in your bank, community, and salary range. We are available to assist, but allow and encourage your direct contact with our candidates. You make the choice and decision, without pressure. MARTY REW 712/779-3567 Hwy. 92 W., Box 140 Massena, IA 50853 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Our fee is paid by the employer and is based on a percentage of the first year’s compensation. All placements are guaranteed. A complete explanation of our services, fees, and guarantees will be sent at your request. ANNETTE FAHNING 515/394-5827 Hwy. 63 S., Box 307 New Hampton, IA 50659 NM-11 AG LOAN OFFICER—Correspondent banker looking to step into Ag lending position. In-depth analysis and mar keting experience. 4 years with FLB and BS in Business Administration. Currently managing over 45 correspon dent bank relationships and responsible for new business developm ent. Good experience. $30,000. Call 712-779-3567. NM-12 LOAN OFFICER/CREDIT REVIEW— Over 11 years credit experience. Responsibilities have included review ing, analyzing, and rating credits in excess of 50k, and for collection of problem loans. Excellent analysis and docu mentation skills. A reference stated, “ He knows the pro grams and responds well to the customers needs.” $35,000. Call 712-779-3567. NM-13 AVP; AG/C0MMERCIAL LOAN OFFICER-Comes from good stock. Has well-rounded background in ag, commer cial, and consumer lending. Heavy involvement with FmHA. Detailed documentation and credit analysis. Look ing for growth potential in concurrence to self develop ment. $28,000. Call 712-779-3567. NM-14 VP/EVP—ISU graduate handling portfolio of 8-9MM, mainly Ag. Strong Ag background, thorough on cash flows, documentation and workouts. “ He’s a good leader, not afraid to work,” says a reference. Prefers Wis consin. $32,000. Call 712-779-3567. NM-15 AVP; AG/C0MMERCIAL LOAN OFFICER-Extensively qualified in loan workouts, credit analysis, and inspections of Credit lines from 10k-400k. Responsible for cash flows and micro computer operations. BS in Ag Business. $24,500. Call 712-779-3567. NM-16 EVP/SR. CREDIT OFFICER—Over 10 years manage ment experience. Skilled in credit analysis with in-depth knowledge of all phases of Agriculture. Active in communi ty events, excellent in communication skills and all areas of lending. Team leader within wholesale credit unit of 800MM bank. BA in Business and BS in Finance. $45,000. Call 712-779-3567. NA-17 VICE PRESIDENT/CASHIER—Handled 8 million dollar loan portfolio. Has over 20 years in banking with opera tions and farm management experience. Will relocate in midwest. $35,000. Call 515-394-5827. NA-18 AG LOAN OFFICER—“ Can analyze a situation; investi gate and make a decision. Does a good job. Has complete knowledge of cash flows and knows all aspects of agricul ture,” said reference. Has 3 years experience with B.S. de gree in Animal Science. Prefers midwest locations. $25,000. Call 515-394-5827. Digitized712/779-3567 for FRASER https://fraser.stlouisfed.org Hwy. 92 W., Box 140, Masseria, Iowa 50853 Federal Reserve Bank of St. Louis NA-19 VICE PRESIDENT—Almost 20 years in ag lending. Bank and PCA experience. Supervised 10MM loan port folio. Developed and negotiated workout plans. “ Has • good people skills; good grasp of the elements needed for ag lending. He has the maturity and good judgment for overall credit knowledge,” related reference. Iowa State Degree. Will relocate in Midwest. $35,000. Call 515-394-5827. • NA-20 AG LENDER— 8 years experience with PCA & FmHA. “ Knows all facets of lending. He can make decisions...can say “ NO” when needed. He has an outstanding attitude and relates well to people,” said reference. $30,000. Call 515-394-5827. NA-21 AG/C0MMERCIAL LENDER— B.S. Degree in Ag Busi ness from Iowa State. Has 7 years experience in ag lend ing with exposure to commercial lending. Worked with 10MM ag portfolio. Has micro-computer experience. For mer supervisor commented, “ Had good analytical ability, • was a quick learner and a self-starter.” Prefers Iowa. $30,000. Call 515-394-5827. NA-22 SR. VICE PRESIDENT—Over 15 years in banking with ® experience in Trust & Farm Management departments. Iowa State Graduate with additional credits towards Graduate School. “ Proved to be a great value to organiza tion with ability to manage trust department,” said refer ence. Available Immediately. $35,000. Call 515-394-5827. • NA-23 CEO—Over 30 years banking experience. HAS SEEN IT ALL!!! Experience in all phases of lending, opera- ^ tions and investments. Prefers IA. $35,000 plus benefits. 9 Call 515-394-5827. NA-24 VICE PRESIDENT— 16 years experience in banking and all phases of lending. Also has investment and opera- ® tions experience. Candidate has insurance licenses in per sonal lines. B.S. Degree in Bus. Admin. Attended Wl Graduate School of Banking. “ Banker with good integrity and very pleasant to work with,” said reference. Prefers IA. $30,000 plus. Call 515-394-5827. • NA-25 VICE PRESIDENT— Former Vo-Ag Instructor with 10 years bank experience. Exposure to bank operations and computers. Attended IBA Ag Credit School, Graduate School of Banking and many ag conferences. “ Has a long knowledgeable history of lending. Is an indepth lender... very articulate and very intelligent. Is an excellent book keeper with ability to manage a small bank,” reported reference. $35,000. Call 515-394-5827. agri oirœrs, inc . 515/394-5827 Hwy. 63 S., Box 307, New Hampton, Iowa 50659 ^ 9 ^ • IOWA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM! ^ 3 ® ■ y CALL OR WRITE IOWA BANKERS INSURANCE AND SERVICES, INC m 104 EAST LOCUST STREET DES MOINES, IOWA 50308 1-800-532-1423 or (515) 286-4344 KANSAS BANKERS SURETY COMPANY P.O. 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BOX 1654 jÊ [ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t' TOPEKA, KANSAS 66601 (913) 234-2631 OWNED BY BANKERS SERVING BANKERS Send Your News Today to the NORTHW ESTERN B A N K E R TELL US ABOUT. . . 1535 Linden Street, Suite 201 DES MOINES, IOWA 50309 Staff Changes Business Campaigns Mergers, Consolidations New Departments at the Bank Remodeling or New Building BANK .................. ,........................................................................... OFFICER ..................... .....................................................TITLE CITY https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STATE Open Houses Anniversary Parties Deaths or Retirements Speeches Made by Bank O fficers Special Announcements to the Public Loan and investment reviews and other management services AND SWORDS ASSOCIATES.INC. ASSOCIATES "Successful Banking is Quality Personnel" PROFESSIONAL BANKING CONSULTANTS 2 Brush Creek Blvd. Kansas City, MO 64112 POSITIONS AVAILABLE (816) 753-7440 PRESIDENT, $125mm outstate bank. Metro or suburban bank background. Strong business de velopment skills & civic leadership. Proven track record as President...............................$70-75,000. 1RS Does Reversal on P IK Tax Date HE IRS reversed itself on the taxable year for PIK-and-roll certificates when it ruled on October 13 that a farmer owes tax on the grain only in the year in which the grain is actually sold, not when the certificate is used to redeem his com m odity loan. Last year, USD A ruled the redemption with PIK s consti tuted a “ sale,” but later reversed itself after numerous consultations with farmer, banker and related groups. The IRS, however, continued to maintain the previous position, and ruled on March 2 this year that in come from PIK transactions was taxable the day the corn was re deemed, and not the day it was sold. Traditionally, taxes had been based on when grain actually was sold. PIK s were issued in lieu o f cash sub sidies under existing federal farm programs. Rep. Fred Grandy (R., Ia.) went into great detail on the battle to overturn the IRS ruling when he ad dressed the Iow a Independent Bankers convention in July. He helped lead the House fight. Neb T “ THE RIGHT FIT” Banking Placement Specialist For Your Staff: □ Top Professional Bankers who are confidentially screened to find “The Right Fit” □ We recruit nationally through our over 200 independent affiliates as well as locally for our clients □ Contingency or Retainer Fee arrange ments □ Contact Sue Lundquist or Mel Hansen, CPC Banking Specialists ELLS Ells Personnel Systems 1129 Plymouth Building Minneapolis, MN 55402 612-333-1131 CELEBRATING OUR 75th ANNIVERSARY BY SERVING OUR BANKING CLIENTS WELL! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis raska’s Sen. D avid Karnes (Rep.) and Sen. Charles Grassley (R., Ia.) were joined by M inority Leader Sen. Robert Dole (R., Kan.) in pursuing Senate legislation that would over turn the IRS ruling. Dr. Neil Harl, nationally known econom ist and farm tax law expert, helped set up a m eeting with IRS in W ashington in August that set the stage for reversing the ruling. He was joined by fellow academicians, farm leaders and banking groups, along with Congressional members. The IRS listened to the explanations and reversed the March 2 ruling. PRESIDENT, $250mm + outstate bank. Strong leadership qualities. Good public speaker. Good long range planner................................$55-65,000. PRESIDENT, $500mm regional bank. Strong leader, delegator and manager of executive staff. Good long range analytical skills.........$75-80,000. EVP, Mid-size holding company. Holding com pany or regional supervisory experience. Solid planning capabilities, strong credit background. ............................................................ $70-75,000. SVP, Head of Lending, $300mm bank. Big bank background. Proven supervisory track record. .................................................................. $55,000. VICE PRESIDENT, strong commercial and ag-related background. Experience managing other lenders.................................................. $40-47,000. CASHIER, $20mm + bank, 8-18 years experience. Small town with good schools, good hospital, locally owned.............................................$25,000. FACILITY MANAGER, consumer, real estate, small commercial background. Good location. Good benefits, self-starter....................$20-25,000. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 Minnesota News G REEN W ALD: The FDIC has ap proved the transfer o f insured de posits and fully secured or preferred deposits o f the State Bank o f Green wald to Rural Am erican Bank of Greenwald, a new, state-chartered bank. The failed bank’s two offices reopened on O ctober 5 as Rural American Bank o f Greenwald. When State Bank was closed on O ctober 2 it had total assets of $18.7 million. Adm inistration o f the insured de posits transferred to the new bank will be funded by an equivalent cash payment from the FDIC. The new bank is paying the FDIC a premium of $103,000 for the right to receive the deposits, and will purchase other assets o f the failed bank for $11.7 million. NEW PORT: J eff A . Hawkins has joined Town & Country Bank as vice president and senior loan officer. He previously served as a vice president for First Bank. ST. PAU L: First Trust has an nounced that Joseph G. Yadrick has been named senior vice president has served as vice president and di vision manager o f institutional trust services. ST. PAUL: A t Am erican National Bank, Barbara W . Schneider has joined the commercial banking de partment as vice president, and Thomas H. Farnham has been pro m oted to vice president and man a ger-p rivate banking. M s. Schnei der is a former American employee who spent the last three years with Barnett Banks o f Florida. Mr. Famham has been with the bank since 1973 and m ost recently was vice president, commercial. Wisconsin News EAU CLAIRE: Michael R. Hyzer has been elected vice president and trust officer o f First W isconsin Na tional Bank. He succeeds Douglas A. Rahn Jr., who recently transfer red to First W isconsin—Madison. Mr. H yzer’s previous position was as corporate counsel for Valley Na tional Bank o f Des M oines. FirsTier Correspondent Services More o f w hat it takes to serve you well. Lincoln • Omaha FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FOIC North Dakota News The N orth Dakota Bankers A sso cia tio n Executive Council met O cto ber 8 to interpret the results o f the September 22 special m eeting on in terstate banking (Newsletter o f Sep tember 21). The Council decided that C o protect the diverse interests of North Dakota bankers and to avoid adverse legislation from being intro duced, a cross-section panel will be assembled immediately to draft po te n tia l legislation. The consensus legislation will be presented to the Council at its February 2, 1988 meeting. Volunteers for the project may contact N D BA President John t^ierson at 222-5137 or the N D BA office at 223-5303. * * * Donald R. M engedoth of Fargo t i e s announced the com pletion o f the purchase o f 21 First Banks in the states o f N orth Dakota, South Da kota and Minnesota. He is the larg est shareholder and president and WDEO of three newly-formed bank ^holding com panies: Com m unity First M innesota Bankshares, Inc., Community First North Dakota Bankshares, Inc., and Community C^irst South Dakota Bankshares, Inc. A ssets o f the companies are $220 million, $150 m illion and $260 million respectively. Several former First Bank officers will serve the £pew holding companies, including Executive Vice President and Chief Financial O fficer Mark A . Ander son, form erly regional com ptroller for FBS. Mr. M engedoth is First QBank System ’s former senior vice president—managing director. Pur chase price for the banks was not disclosed. Nearly 200 local inves Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis We Can Help With Your Employment Needs! tors, em ployees and directors o f the local banks purchased stock. The holding companies own 80% o f each bank. Illinois News Specialists in Bank Recruiting and Consulting Since 1971 CHICAGO: D avid M. W attenberg has been named president o f A ffili ate Bank/DuPage. He has been with the A ffiliated Group since 1984, m ost recently as senior vice presi dent o f A ffiliated Bank/M orton G rove. He succeeds L eslie J. Gomora, who has left the bank to pursue other business interests. □avid L. Hansen, CCP HAMILTON ASSOCIATES 100 Court Ave., Suite 3 0 6 Des Moines, Iowa 5 0 3 0 9 51 5/2 8 2 -0 2 2 1 CHICAGO: The Exchange National Bank o f Chicago has announced the prom otion o f Lynda Vieha to vice president, 122 Private Banking Cen ter. South Dakota News SIOU X FALLS: Robert C. Oliver has been prom oted to senior vice president, business banking in Sioux Falls and Pete Cappa has been prom oted to that position in Rapid City, for Norwest Bank South Da kota. Both previously served as vice presidents at their respective banks. SECONDARY M A R K E T .. . (Continued from page 1) m ost banks are capitalized, so it’s an attribute, and not a detrim ent.” Both A B A and IB A A , who have joined forces with other financial groups to support the legislation, expressed hope that the Senate, if it persists in putting a ceiling on loan volume for Farmer Mac, will set the cap high enough to allow the new organization to serve fully the loan demand. Mr. Barton said it is difficult to accurately assess the potential volume, but did point out that IB A A research shows that farm real estate loans in banks have increased from $8.9 billion in June, 1983, to $14.1 billion in June, 1987, up $5 bil lion. “ Refinancing and turnover of ownership loans would amount to about $20 billion,” Mr. Barton esti mates. “ W ith the $5 billion growth, and a percentage reflecting $7.5 billion of other financing, perhaps we are dealing with a $12 to $13 bil lion pent-up demand, so we’d like to see the cap initially high enough to accommodate the larger start-up de mand.” □ "Professional assistance in hiring and career advancement" quality service by experienced professionals 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 Jean Eden 515- 276-1151 Sandi Gamer 515- 832-1258 Tues / Wed / Fri Confidential. Fees Paid by Employer. 6 POSITION AVAILABLE $80MM Independent Bank located near metro area seeks COMMERCIAL LENDER. Excellent opportunity to ad vance. Send resume to File No. WKP 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 with full knowledge of FHA & SBA programs. Com pensation will commensurate based on qualifications & experience. Send resume to File No. WLA c/o North western Banker. (PA) $22 MM bank seeking an experienced INSTALLMENT LENDER. Will 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) PRESIDENT In $80MM bank in county seat town. Requires 10 + years experience in management of similar size bank. Send resume to File No. WLE c/o Northwestern Banker. (PA) AQ REP in $75MM bank. Some farm management duties. 2 years lending experience. $25,000 salary. Send resume to File No. WLF c/o Northwestern Banker. (PA) CREDIT ADMINISTRATOR. Bank consulting firm needs loan auditor/analyst to audit loan policies & procedures, conduct loan reviews & assist bank lending personnel. Strong lending & communication skills required. Contact Russ Olson @ (515) 456-4703. (PA) POSITIONS AVAILABLE CORP. CHIEF CREDIT OFFICER—Need several years of extensive comm. & ag exp. - Omaha, ma jor bank. $40-50K. AO LENDER—S.E. Nebraska - Degree - 3-5 yrs exp. $25-30K. COMM. LENDER MANAGER—Need 5-10 yrs exp. in comm, lending. 2 positions - Greater Omaha & Des Moines. $45-50K. All fees are paid by our client employers. Richard L. Beam, CPC GUMBERT EXECUTIVE EXCHANGE, INC. 11246 Davenport Street Omaha, NE 68154 Phone: 402/330-3260 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 million asset base, and located in a very progressive, beautiful community. THE POSITION REQUIRES All of the qualifications necessary to the office of President & CEO, plus strong people and business development skills, with a commitment to civic parti cipation and community leadership. Address inquiries and resume’s to: Chairman, First National Bank, P.O. Box 2390, Estes Park, CO 80517. POSITION WANTED CEO accustomed to hectic pace in larger Iowa bank. Loan workout expertise, excellent marketing results, advanced banking schools, strong people and business develop ment skills. Contact File No. WLD c/o Northwestern Banker. (PW) Dwayne Smith Banking Insurance Specialist (515) 224-0830 SALES CONSULTANTS 1501 50th Street W est Des Moines, IA 50265 COL. GORDON E. TAYLOR B o x 9 4 9 - M a s o n C ity , la . 504 0 1 5 1 5 /4 2 3 -5 2 4 2 P r o fe s s io n a l A u c tio n e e r HPx MmJ ;n M R e a l E s ta te B ro k e r a n d A p p r a is e r FOR SALE RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 BANKERS AVAILABLE COMM’L LENDER Goal oriented lender. 10 years in holding co environment working large credit lines. Mgr. experience plus polished image. $38K. CONSUMER LOAN OFFICER Do it now philosophy and excellent follow-through have helped this accomplished lender become one of the best business developers in the area. Trained in a finance com pany, experienced in all types of bank loans, this hardworker is especially skilled in the installment area. $24K. TRUST OFFICER CPA/JD. Well-informed individual who has been working with an excellent dept over the past 2 yrs. Prior to that was employed by big 8 acct. firm. Conscientious and capable in all areas of trust with emphasis on employee personal trusts. $26K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS R O B E R T HALF or IOWA.MC. 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 BANKING CEO—Small Iowa bank needs a seasoned professional with good operations, ag lending background. To $40,000. JUNIOR AG OFFICER—Community bank needs experi 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 ^ W Employer pays fee. Please contact Lorraine Lear or Malcolm Freeland con cerning these and other Midwest banking opportunities. POSITIONS AVAILABLE EXECUTIVE VICE PRESIDENT Are you looking for a real opportunity? Do problem loans and technical exceptions have you depressed? A profit-. able, well capitalized camel rated “ 2” bank of $25mmf seeks an EVP to manage all lending and operational func tions. Located in N.E. Iowa near a large city you will be given the opportunity to manage the bank at your descretion. Desire 8+ years Ag/Commerciai lending experience, a degree and strong people skills. A super opportunity. To $45K. Job #NW2385. V.P. COMMERCIAL LENDER < Do your abilities deserve better potential? Time to move your career forward? Then this #2 position administering the loan portfolio is for you! Become part of top manage ment in a mid-sized dependent bank located within an hour of the Twin Cities. Your 3+ years commercial lend ing exp., degree and formal credit training is needed right now! Grab your future now and move ahead! Bonus! Club!| Perks! To$37K. Job#NW2386. COMMERCIAL LENDER Are you tired of being passed over? Are you impatiently I CONSUMER/REAL-ESTATE LOAN OFFICER. Profit- I I able holding company needs your consumer lending S waiting to get into the commercial lending area? Then step up to the plate! Put your 1 + years of formal credit | experience to write loans. Above average people | I skills and high performance offers upward career 1 training, degree and credit analysis experience to use. now! Take this rare oppty. and join the commercial lend-" 1 potential! B enefits!___To $26,000.........Call Bruce. 1 ing lines of this premier banking group. Excellent benefits. 1 V.P. HEAD OF TRUST. Utilize your outgoing perTo$25K. Job #NW2387. I sonality and leadership skills with general trust and I I prior management experience in this prestigious f FOR MORE INFORMATION I bank position. Great benefits! To $71,000. Call Marj. I CONTACT PAUL GENTZKOW 1 SENIOR VICE-PRESIDENT. Unit Bank! Oversee the ' OR JAN PETERS I loan portfolio, primarily commercial and real-estate, I 8 manage loan officers, and work with Fortune 500 | R O BER T MClLF # 1 companies! This holding company has had succes- 1 I sive increases in net income, assets, and loans. 1 3636 IDS Center I Commercial lending, loan officer management, and 8 Minneapolis, MN 55402 I business development success can put you in this I I promotable spot. Prosperous area! Full benefits! (612) 339-9001 B .....................To $60,000.........................Call Bruce. I I AVP COMMERCIAL LOAN OFFICER. Excellent I ALL FEES COMPANY PAID I credit skills and business development with 6 figure | I loan experience could land this position in aggres- I POSITIONS AVAILABLE I sive$170 + mm bank! .. .T o$32,000. .. .Call Marj. 1 I INSTALLMENT LOAN AND REAL ESTATE. Strong 1 TRUST MARKETING - large urban bank. Requires degree I installment and real estate experience? Metro area | and trust experience. $35K 1 bank needs y o u !......... To $25,000............ Call Marj. 1 REAL ESTATE LOAN • single family residential and secon (ASST. VICE-PRESIDENT. Modern city with open | dary market experience required. Proximity of major metres 1 spaces! Great hunting and fishing nearby! You will I $401# E specialize as the commercial lender and business & area. H developer for this holding company bank. Also write LOAN REVIEW - large bank experienced required. Both some agri-business loans. 401K, pension, retire- £ junior and senior level positions available. $28-$40K I ment, benefits! ___To $28,000 + ..........Call Bruce. 1 COMMERCIAL LENDING - V.P. positions in urban and I V.P. COMMERCIAL LOANS. Would you like more | large suburban banks. Personal portfolios from $20MM to I challenge and upward mobility? Loan experience, I $50MM. $40 K ■ management background and business develop- I BRANCH MANAGER - handle small business and c o n A 3 ment can qualify you for this Metro Area bank! sumer credits. Med-size community affiliate of m u ltib a n l^ I ...................... To $55,000..........................Call Marj. I holding company. $24K ¡¡Partial Listing. Positions available throughout £ Additional listings for commercial lending and I Midwest. Call or send resume in complete confi- 1 trust officers. Resume' requested. H dence. t,PersonnelS earch 1126 So. 72nd St. Omaha, Ne. 68124 ALL FEES COMPANY PAID POSITIONS AVAILABLE VP/TEAM LEADER—Metro bank needs commercial lender with 5-10 yrs. exp., formal credit training, degree and p r o # ven management skills for #2 spot in a $50mm depart ment...................................................................To $50,000. 402 - 397-2980 TOM HAGAN & ASSOCIATES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 # “ Serving the Banking Industry Since 1970” Vol. 16 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 mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden “ St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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