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OCTOBER 1983 A B A priority: Meeting Bankers’ Needs I*, *** The Marketing Matrix A Banker’s Guide to Depositions Market Day a Success New Officers of Iowa Bankers Association https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis "P roviding our customers w ith quality service demands more from us than simply a surface response. W e go deeper. Take overline and liq u idity loans, for example. "A t MNB, we act decisively on all overline loan requests. But first, our qualified experienced loan specialists study the situation and apply fresh, innovative thinking in tailoring a loan package to your bank and your bor rower's individual needs." An opportunity to serve. "W e believe a loan request is an op portunity to serve — not only the bor rower but the respondent bank and the com m unity it serves. So, the close w orking relationship we create and maintain w ith each of our respondent banks and their overline customers assures continued growth, stability and quality in their loan portfolios and ours." If quality service is im portant to you, too, call 319/ 398- 4320, or call, toll free, 1- 800- 332-5991 and talk to Jerry or M NB Correspondent Banker John E. Mangold, Stan R. Farmer or Terry M. Martin. Merchants National Bank 1:1 Cedar Rapids, Iowa 52401 Member F.D.I.C. A BANKS OF IOWA’ BANK Northwestern Banker (USPS 397-620) is published monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. DigitizedNo. for 1441 FRASER Subscription $1.50 per copy. $18 per year. Second Class postage paid at Des Moines, Iowa and at additional mailing office. POSTMASTER: Send all address https://fraser.stlouisfed.org changes to Northwestern Banker, 306 Fifteenth Street, Des Moines Iowa 50309. Federal Reserve Bank of St. Louis 3 We're blow ing our cover on w ire transfers § H All banks transfer m oney. B u t n ob od y talks about it. It’s one of those quiet, ignored sort of services. W e think it’s time wire transfer got the lim elight it deserves. E a ch year w e transfer u p w ards of 10 trillion dollars. So wire transfer is certainly important to us. A n d it’s important to you, too. D elayed transfers m ean delays in your investm ents. Fast is w hat you want. A n d w ith u s,y o u ’ll get it. W e can m ake transfers at supersonic speed.You m ay call it m agic. W e ju st call it progress. B u t actually it’s called electronic transfers. N ot only are they faster, th ey’re m ore conven ient. Instead of spending hours on the p h on e each day, y ou can authorize transfers in a d v a n ce.T h ey ’ll be handled auto matically. E lectron ic transfers can m inim ize your aggravation w hile m axim izin g your efficiency. W hether you ch oose the electronic m ode of trans fer or the traditional ph on e or m ail,you can be sure w e ’re over-cautiou s about errors, absolute sticklers about security. "" * n Call R obert C .V a sk o at (312) 828-4046. A n d ask about w ire transfer. W e m ay not w ear trenchcoats or carry cryptic decoders, but w e e xcel at this secret service. CONTINENTAL BANK Continental Illinois National Bank and Trust Com pany of Chicago, 231 South La Salle Street, Chicago, Illinois 60693 Atlanta •Boston •Chicago •Cleveland •Dallas •Denver Detroit •Houston •Los Angeles •Minneapolis •N ew York St. Louis •San Francisco •Seattle •White Plains https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 I f your prim ary correspondent doesn’t look com m itted to your business, take a lo o k at First B an k M inneapolis* mmmi m■ m https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C om m itm ent. T h e kind that says we’ll be responsive to your needs, no matter what the changing environment brings. That’s what we’re all about at First Bank Minneapolis, and maybe that’s why m ore banks in the Upper Midwest use us as their primary correspondent than any other bank. As other banks edge slowly out o f the correspondent banking business, we move ahead with; ♦ the largest staff o f professional calling officers in the region so that our primary respondents will see their calling officer as often as they’d like. ♦ a 30 % increase in our data proc essing staff so that we can handle your needs more rapidly and effectively. ♦ the kind o f lending philosophy that has allowed us to double our correspondent bank loan portfolio in the last four years. So if you’re getting the idea that we are the most committed correspondent bank around, you’re getting the right idea. First Bank Minneapolis Correspondent Banking Department First Bank Place Minneapolis, M N 55480 612/370-4762 We are w hat you w ant a correspondent bank to be* *: * •*» .* ÌÉS https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 31 ##» *m 6 Associates Scholarship STERN OCTOBER 1983 • 90th Year • No. 1441 MEMBER OF AUDIT BUREAU OF CIRCULATION MEMBER BANK MARKETING ASSOCIATION (XI OLDEST FINANCIAL JOURNAL SERVING THE CENTRAL AND WESTERN STATES STATEMENT OF OWNERSHIP MANAGEMENT AND CIRCULATION ON THE COVER Serving the Iowa Bankers Association during the 1983-84 year will be the officers pictured on the front cover, from left: Immed. Past Pres.—L.C. Bud Pike, pres., Farmers Savings Bank, Grundy Center; Pres.-Elect—William Logan, pres., The State Central Bank, Keokuk; Pres—Al Maser, pres. & chmn., First National Bank in Le Mars; Exec. V.P.—Neil Milner, Des Moines, and Treas.—Richard Randall, pres., Dunlap Savings Bank. Convention report and pictures start on page 65. FEATURES 21 Meeting bankers’ needs Larry Johns outlines ABA’s first priority 23 Banker’s guide to depositions Attorney Jon Pearce gives some advice to bankers 25 The marketing matrix Robert Larranaga describes new, competitive tool 26 David B. Reinke has been award ed a National Merit Corporate Scholarship from G ulf+'Western In dustries, Inc. The announcement was made by Harold D. Marshall, president of Associates Commercial Corporation, a Chicago-based sub sidiary of Associates Corporation of North America, a G ulf+ Western Company. David is the son of Ronald Reinke, regional sales manager of Associates Leasing, Inc., based in Rolling Meadows 111. 27th “ Market Day” St. Joseph, Mo., draws from four-state area DEPARTMENTS 10 Calendar 50 51 53 56 58 65 12 Bank Promotions 31 Illinois 35 Minnesota 38 Twin Cities 47 South Dakota 47 North Dakota 48 Colorado 82 86 Montana Wyoming Nebraska Omaha Lincoln Iowa Convention Report & Photos Des Moines Index of Advertisers NORTHWESTERN BANKER 306 15th Street, Des Moines, Iowa 50309 Phone (515) 244-8163 Publisher & Editor Associate Publisher Associate Editor Consultant Ben Haller, Jr. Steve Burch Becky McBurney Malcolm K. Freeland No. 1441 Northwestern Banker (USPS 397-620) is published monthly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscription $1.50 per copy. $18 per year. Second Class postage paid at Des Moines, Iowa and at additional mailing office. POSTMASTER: Send all address changes to Northwestern Banker, 306 Fifteenth Street, Des Moines, Iowa 50309. (Required by 39 U.S.C. 3685) (also DMM 448.31) 1. Title of publication — Northwestern Banker 2. Date of filing — September 26, 1983. 3. Frequency of issue — Monthly. 4. Location of known office of publication — 306 - 15th Street, Des Moines, Iowa 50309. 5. Location of the headquarters or general business of fices of the publishers (Not printers) — 306 - 15th Street, Des Moines, Iowa 50309. 7. Owner (If owned by a corporation, its name and ad dress must be stated and also immediately thereunder the names and addresses of stockholders owning or holding 1 percent or more of total amount of stock. If not owned by a corporation, the names and addresses of the individual owners must be given. If owned by a partnership or other unincorporated firm, its name and address, as well as that of each individual must be given). Ben Haller, Jr., Presi dent, 306 - 15th Street, Des Moines, Iowa 50309. North western Banker Company, 306 - 15th Street, Des Moines, Iowa 50309. 8. Known bondholders, mortgagees, and other security holders owning or holding 1 percent or more of total amount of bonds, mortgages or other securities: Ben Haller, Jr., President, 306 - 15th Street, Des Moines, Iowa 50309. 10. Extent and nature of circulation: Average No Actual No. copies each of copies of issue during single issue preceding nearest to 12 months filing date A. Total No. copies printed 5,778 6,750 (Net Press Run) B. Paid Circulation 1. Sales through dealers and carriers, street vendors and counter sales NONE NONE 2. Mail Subscriptions 4.015 3.912 C. Total paid circulation 4.015 3.912 D. Free distribution by mail, carrier or other m eanssample, complimentary, and other free copies 1,485 2,063 E. Total distribution (Sum of C and D) 5,500 5,975 F. Copies not distributed 1. Office use, leftover, unaccounted, spoiled after printing 278 775 2. Returns from news agents NONE NONE G. Total (Sum of E, F1 and 2—should equal net press run shown in A) 5,778 6,750 11.1 certify that the statements made by me above are cor rect and complete. BEN HALLER, JR. Editor and Publisher 12. For completion by publishers mailing at the regular rates (Section 132.121, Postal Service Manual). 39 U.S.C. 3626 provides in pertinent part: “ No person who would have been entitled to mail matter under former section 4359 of this title shall mail such matter at the rates provid ed under this subsection unless he files annually with the Postal Service a written request for permission to mall matter at such rates.” In accordance with the provisions of this statute, I here by request permission to mail the publication named in Item 1 at the phased postage rates presently authorized by 39 U.S.C. 3626. Ben Haller, Jr., Editor and Publisher Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 “THINK” 200 bankers have installed MBS banking systems Future: Today and tomorrow the standard in bank automation Products: Both hardware and software from MBS Simplicity: All personnel in your organization are trained in your bank Flexibility: Multiple methods of proof for entry or extraction of information. Design: Human engineering factors aid use and understanding of the system. Software: MBS written and supported from proof thru asset and liability mgmt. Hardware: MBS using world renowned Computer System from Texas Instruments Guarantee: Complete six month moneyback guarantee on both hardware and software When you “think”, think MODERN BANKING SYSTEMS, INC. 6818 GROVER STREET O M AH A, NEBRASKA 68106 402-39201151 Featured on hardware from Texas Instruments https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis your Direct Linetothe Ulorldof Business...and the WorldtoCome. Centron™ Com m unications System If you’re about to make a major investment in a new communications system for your business of profession, one thing is certain. You’re going to demand more than just “talk”. You’ll expect a system that delivers tomorrow’s technology, today. You’ll insist on complete reliabil ity. Maximum flexibility at minimum cost. Added value, across the board, for your communications dollar. Now, Northwestern Bell offers a communica tions system that meets ali those expectations, and more. It’s called Centron communications system, and it can open up a multitude of new possibilities for your organization. Growth Without the Growing P ains Centron system’s total flexibility, combined with its ability to grow as you grow, makes it unique in the communications industry. No matter what size your company is today, Centron offers virtually unlimited capacity for the future — 20,000 phone lines, and beyond. With the Centron system, there's no need to purchase costly extra capacity in anticipation of future growth. You pay only for what you need, adding or subtracting capacity and desired features along the way. What makes the Centron system so flexible and responsive to the changing needs of business? The answer is simple. Centron’s state-of-theart electronic switching systems are located on Northwestern Bell’s premises — not your own. So we can modify your system quickly and efficiently. Update it whenever necessary. That saves you money, downtime, and a whole lot of trouble — like installation delays. And since your Centron systems “hardware” is located in our central offices, you save*valuable equipment space, and you’re spared the expense of special environmental controls. * What’s more, Centron’s*centralized location means that branch or satellite locations of your business can be integrated into your main system easily and economically. Finally, and this is important... your Centron system is professionally maintained aroundthe-clock, seven days a week. We solve most problems before you even know they exist. That’s bottom line reliability, pure and simple. Centron, Today and Tomorrow* As a Centron system customer, you’ll have the benefit of Information Age technology without the burden of an enormous capital investment. Northwestern Bell is constantly modernizing and upgrading Centron’s capabilities. Making new features available. Updating maintenance proce dures. And improving call-handling performance. Your Centron system will never become obsolete, because Northwestern Bell will keep it evolving to meet the needs of the future. In fact, Centron just might be the only com * miunications system your company will ever need. Can you think of a better reason to choose Centron? For more information on the'Centron commun ications system, call toll-free. 1-800-328-4535 Ext. 5901 . (within Minnesota) 1-800-752-4225 Ext. 5901 Or, contact your Northwestern Bell Account Executive to discover exactly how Centron’s wide range o f standard features and options can be tailored to meet the specific needs o f your organization. ( 2 ) Northwestern Bell The Information network https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10 Convention Calendar ABA—American Bankers Association AIB—American Institute of Banking BAI —Bank Administration Institute BMA—Bank Marketing Association IBAA—Independent Bankers Association of America NABW—National Association of Bank Women, Inc. RMA—Robert Morris Associates National Conventions & Schools Oct. 23-25—ABA International Banking Conference, Grand Hyatt New York. Oct. 23-26—BMA 68th Annual Convention, Atlanta Hilton, Atlanta, Ga. Oct. 30-Nov. 2—RMA 69th Annual Fall Con ference, Fairmont Hotel, San Francisco. Nov. 2-4—ABA Chief Financial Officer Seminar, Hyatt on Hilton Head, Hilton Head Island, S.C. Nov. 2-5—IBAA 23rd Seminar on the OneBank Holding Company, Marriott’s Hilton Head Resort, Hilton Head Island, S.C. Nov. 13-16—ABA National Agricultural Bankers Conference, Bonaventure, Los Angeles, Calif. Nov. 13-17—BMA Trust Marketing Con ference, Fairmont Hotel, Dallas, Tex. State Conventions & Schools Illinois: Nov. 16-17—IBA Bank Management Con ference, Holiday Inn, O’Hara Kennedy. Nov. 17—IBA Annual Meeting, Holiday Inn O’Hare Kennedy. 1984 June 13-15—IBA Annual Convention, Peoria Convention Center, Peoria. Iowa: Nov. 14-15—IBA Consumer Lending/Retail Banking Conference, Cedar Rapids. Dec. 2—IBA Borrower Bankruptcy Seminar, Des Moines. 1984 Feb. 5-7—IBA Marketing Conference, Des Moines. Montana: Nov. 3-4—Bank Directors Conference, Heritage Inn, Great Falls. Nebraska: Oct. 16-20—Schools of Banking Advanced School, Regency West, Omaha. Nov. 3-4—NIBA Annual Convention, Mid town Holiday Inn, Grand Island. Nov. 16-17—NBA Bank Management Con ference, Holiday Inn, Kearney. 1984 Jan. 11-12—NBA Instalment Lending Con ference, Kearney Holiday Inn. Feb. 10-15—NBA Bank Presidents Con ference, Red Lion La Posada, Scottsdale, Ariz. Feb. 28-29—Personnel Conference, Kearney Ramada Inn. North Dakota: Oct. 25-26—NDBA Bank Women’s Confer ence, Holiday Inn, Fargo. 1984 Jan. 24-25—NDBA Chief Executive Officers Conference, Doublewood Inn, Fargo. Jan. 25-26—NDBA Bank Management Con ference, Doublewood Inn, Fargo. Feb. 15-17—Bank of North Dakota MidWinter Break, Bismarck. Apr. 2-4—NDBA Washington Visit, L-Enfant Plaza, Washington. Apr. 9-11 —NDBA Head Teller Workshop. May. 8-9—NDBA Agricultural and Consumer Credit Conferences, Sheraton Inn, Minot. June 3-8—NDBA School of Banking, Univer sity of North Dakota, Grand Forks. BANKERS Federated Investors, Inc., a large Pittsburgh based Financial Services Firm has current openings for Marketing Representatives in various regions throughout the United States. These individuals will introduce and service Cash Management Systems to Financial Institutions, in two different capacities. Asset Management Representatives Candidates for these positions will have 3-5 years in Bank Portfolio Management. Trust Representatives Trust candidates will have 3-5 years Asset Management experience in a Trust Department. We are looking for experienced banking professionals with excellent communication skills, professionalism and a willingness to travel. NASD Series 7 and Blue Sky registra tion helpful. These are salaried positions and we offer compensation commensurate with your ex perience. Please send resume and salary requirements in complete confidence to: Diana L. Fraser FEDERATED INVESTORS, INC. 421 SEVENTH AVENUE PITTSBURGH, PA 15219 An Equal Opportunity Employer DigitizedNorthwestern for FRASERBanker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis July 5-7—Dakota Bankers Centennial Con-^ vention, The Broadmoor, Colorado™ Springs. Wyoming: 1984 Apr. 22-25—WBA Biennial Washington, D.C._ Trip. • June 13-15—WBA 75th Annual Convention, Jackson Lake Lodge. HBE Bank Facilities Awarded Ohio Contract • Farmers & Merchants Bank in Miamisburg, Ohio, has awarded a contract for $603,000 to HBE Bank Facilities. The announcement of th e ^ contract signing was made today by Fred S. Kummer, president of the St. Louis-based design/build firm. The project includes alterations and additions to the bank’s home of- 0 fice. HBE will enclose the existing drive-up area and convert it to finished space for administrative of fices and the loan department. A new one-story additon will 0 house the drive-up tellers and serve three new drive-up lanes. Farmers & Merchants’ existing lobby will be remodeled to include custom walnut-framed lighting and0 a new waiting area. The entire pro ject should be completed in July 1984. IBAA, Innerline Hook Up 0 T he In d e p e n d e n t B a n k e rs Association of America and In nerline have signed an agreement which makes the computer-based ^ fin a n cia l in fo r m a tio n s e r v i c e ^ available to IB A A ’s 7000 communi ty bank members. Innerline, jointly owned by the Bank Administration Institute and the American Banker ^ newspaper, is the first management ^ support service designed exclusively for the financial services industry. IBAA, the national trade associa tion for community banks, is the 0 first national trade group to put its members on-line. “ By allowing IB A A members dai ly access to breaking news, financial sta tistics and regu latory and 0 legislative information related to their industry, Innerline will assist co m m u n ity ban k ers in th eir strategic planning and forecasting,’ ’ IB A A Executive Director Kenneth 0 Guenther said at signing ceremonies at Innerline headquarters in subur ban Chicago. “ We are pleased to be able to put this information network within the reach of our small and <£ medium-size banks,’ ’ he noted. We turn on a dime so you can turn a larger profit. W hen m oney is expensive, so is the time funds are idle. T h at’s why so many banks rely on Northern Trust Bank for profit-enhancing correspondent services. Our exper tise in getting funds to work quickly and profitably has earned us the reputation of being a pre miere processor for correspondent banks. In fact, in independent surveys, The Northern Trust consistently ranks am ong the top three cash management providers in the industry. The latest in com puter tech n ology assures check collection and safekeeping that’s accurate and fast. Our Cashline Balance Reporting System gives you elec https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tronic access to your account for maxim um flexibility. You can get a fresh update every 15 minutes if necessary—and m ove m oney within hours rather than days. A d d to our sophisticated equipment the best in personal attention and responsiveness, and you get Northern Trust’s ideal com bination of quality and effi ciency. A dedicated staff of profes sionals assures you personal attention in all transactions. We’re also ready to assist you in handling your investments. A nd our experienced Bond Departm ent representatives are always on hand to provide knowledgeable advice. W ith Northern Trust Bank behind you, you can count on better service for your customers. A nd a better bottom line for your bank. For more information, contact Curtis E. Skinner, Senior Vice President, Northern Thist Bank, 50 South LaSalle Street, Chicago, Illinois 60675. Iblephone: (312) 630-6000. M em ber F.D.I.C. The more you want your bank to do, the more you need The Northern. Northern Trust Bank 12 r Bank Prom otions ROMOTIONS and other an nouncements have been made by the following banks: American N ational Bank, Chicago: Alberta I. Wuerfele was named a senior vice president and continues as comptroller. She has spent her entire career with the bank and in 1970 was the first woman banker to be named comptroller of a major American bank. Robert L. Riter, who joined the bank in 1979, has been named vice president and head of the loan review department. Centerre Bank, St. Louis: Thomas E. O ’Meara, vice president, has been promoted to manager of the cor respondent division, it was announc ed by Clarence C. Barsdale, chair man and CEO. Mr. O ’Meara suc ceeds William J. Barnett, Jr., who recently was elected president and CEO of Centerre Bank of Chester field. Mr. O’Meara joined Centerre Bank in 1973. P Commerce Bank also announced the election of these three new of ficers: Ronald C. Gerdel to vice president in the trust investment department; James P. Mitchell to operations officer in the securities services department and Janet E. Tyler to consumer banking officer at the 89th & State Line branch. Continental Bank, Chicago: Roger E. Anderson, chairman and CEO of Continental Illinois Corporation and Continental Bank, recently an nounced the election of David G. Taylor as a vice chairman and direc tor and Edward S. Bottum as a director of Continental. The election of both men, who were executive vice presidents, took place at the August board meeting. Mr. Taylor, 54, heads the bond and treasury services department and is treasurer of the holding com pany. He will report to Mr. Ander- Commerce Bank, Kansas City: Eugene L. Mahaffey has been elected senior vice president and will be responsible for retail banking and planning for the bank and its regional affiliates. He had been vice president of the parent Commerce Bancshares, Inc. in the same capaci ty. D.G. TAYLOR E.S. BOTTUM “CONSISTENTLY BETTER TURNAROUND” * ATM CARDS • MAILED WITHIN 48 HOURS OR • INSTANT ISSUE Cardpro Services, Inc. CARDPRO Magnetic Striped Card Services 129 W.61st St. Westmont, III. 60559 (312)960-5640 PLASTIC CARDS • EMBOSSING • ENCODING • MAILING • PIN GENERATION ENCODERS • ACCESS CONTROL SYSTEMS • EMBOSSERS • ID BADGE SYSTEMS * BASED ON SURVEY OF OUR CUSTOMERS, RESULTS AVAILABLE UPON REQUEST Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis son. Mr. Bottum, 50, heads trust and investment services. He will join general banking services and will assume responsibility for that area at the end of the year upon the retirement of Edward M. Cumm ings, executive vice president, who currently heads general banking ser vices. Succeeding Mr. Bottom as head of trust and in vestment servic es is Roger H. S herm an, 49, senior vice presi dent, who most recently headed the w e ste rn states group of the U.S. banking department. Gail M. MelR.H. s h e r m a n Melick, 55, a 31-year veteran with Continental, has taken a leave of absence for medical reasons and plans to retire by the end of the year. Mr. Melick was executive vice presi dent of the holding company and bank, where he headed operations and management services and in 1980 assumed additional respon sibility for personal banking and the commercial finance corporation. A year later he became responsible for the community banks division. Among the 30 new vice presidents named by Continental Bank was W. Kent Velde of U.S. Banking Ser vices, who was formerly assigned to the midwest division where he was well-known by many Iowa bankers. Also, promotions were announced for Mary K. Nihlean and Albert J. Young, Jr., to banking officers in the U.S. banking services department. Mary Nihlean calls on correspon dent banks in Iowa from Chicago headquarters. Mr. Young serves the southern Missouri market from Con tinental’s St. Louis regional office. Drovers Bank of Chicago: C. Hugh Albers has joined the bank as a vice president in the correspon dent bank divi sion, it was an n ou n ced by James J. Carmody, president. Mr. Albers is a native of Chica go and u n til recently was an a ssista n t vice CH- ALBERS president of the First National Bank 13 • of Chicago. He is a graduate of the University of Colorado. In civic ac tivities, Mr. Albers currently is vicechairman of the Mid-American Chapter of the American Red Cross. Northern Trust Company, Chicago: Robert G. Dederick, Under S e c r e t a r y o f C o m m e rce fo r Economic Affairs, will join the bank in mid-October as executive vice president and chief economist. His resignation from his federal post was effective September 23. He was chief economic advisor to the Secretary of Commerce. Mr. Dederick, 53, had held the position of senior vice president and chief economist at The Northern Trust before joining the Department of Commerce in May, 1981. Prior to joining the bank in 1964, his career in economics included duties as research m anager and as an economics professor at Harvard, Cornell and Boston universities. Northern Trust directors also pro moted Donald L. Raiff to senior vice president in the treasury depart ment, which he has headed since last J anuary. Promoted to vice presidents were: Robert W. Wiarda, international department, Latin America division; Edward A. Caponigro and Glenn W. Proud, Jr., operating department, cash management, and Barry L. Kaufman, treasury department’s foreign exchange division. Norwest Corporation, M in neapolis: Three new vice presidents have been named within Norwest Venture Capital M a n a g em en t, Inc.: Leonard J. Brandt, T im o thy A. Stepanek and Dr. Mark Dubovoy. A t N orw est L easin g, In c., a n o th e r su b s id ia r y , th e op en in g o f a L.J. BRANDT https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis regional office in Portland, Ore., was announced to serve customers in Oregon, W ashington, northern California and Nevada. United Missouri Bank of Kansas City, N.A.: Thomas D. Cochran has been promoted to vice president and manager of bank brokerage and Rebecca D. Herman was elected in vestment accounting officer. New officers elected at United Missouri include these: Nancy Jane Byers to vice presi dent and pension services officer in trust and employee benefits. J. Robert Hardin to vice president in the correspondent division. He will be responsible for developing and maintaining accounts in nor thern Missouri. Robert B. Chamberlain to vice president in the bond department, responsible for portfolio manage ment for correspondent banks. John G. Phillips, Jr., to vice presi dent and municipal credit analyst in the bond department. Dan Cunningham to assistant vice president in the bankcard divi sion. Robert E. Mickey, Jr., commer cial loans, and Reginald J. Smith, real estate division, to assistant cashiers. David A. Junge to trust invest ment officer. Tess Anderson-Magill to assis tant trust operations officer. Melissa Smith, Joyce E. Chaney, David A. Dickens, Jr., and Greg Bernard to bond investment officer. w c /> Où c <UJ GOH C/)Z LU LU O Milbank, SD Triangular free-standing display. Apple Valley, MN Free standing two-faced display. Continental to Issue $75 Million Preferred Continental Illinois Corporation early last month announced a pro posed offering of 1.5 million shares of adjustable rate preferred stock with an aggregate stated value of $75 million, or $50 per share. The preferred shares are part of a threemillion-share shelf registration filed with the Securities and Exchange Commission that became effective August 24. The managing underwriters of the offering are Goldman, Sachs & Co., The First Boston Corporation, Lehman Brothers Kuhn Loeb Inc., and Morgan Stanley Inc. Continental said that the pro ceeds it receives from the issue will be used to fund the corporation’s general capital needs. II DAKTRONICS INC DAKTRONICS, INC. Box 128 Brookings, SD 57006 Ph. 605/692-6145 TOLL FREE 800/843-9879 (exc. AK, HI and SD) TELEX 29-5013 DAKTRONCS BKNG Northwestern Banker, October, 1983 14 Venus 4000 installation in Franklin Square, Long Island, N.Y. Daktronics Designs Animated System HE VENUS 4000 message/animation system, an advanced microprocessor controlled system, is designed and manufactured by Daktronics, Inc. The South Dakota firm is an internationally known manufacturer of standard and custom scoreboards, time and temperature units and animated T message centers. Daktronics has announced the up dating of this computerized system which combines graphics, animation and word messages for arenas, stadiums, shopping malls and even expressway locations. Financial in stitutions in many states are now using the Daktronics message/ Fo r n o t m u c h m o r e t h a n A MOTEL IN THE MIDDLE OF NOWHERE, YOU CAN BE SOMEWHERE. $34.50 single occupancy. $34.50 double occupancy. Children under 17 free in same room with adults. Any day week or weekend. That one low price puts you at the front door of one of America’s great downtowns. Walking distance to the Dome, Nicollet Mall, Orchestra Hall, great restaurants and theatres. That’s not all. $34.50 includes free parking, complimentary cocktail for each adult guest, sauna and two swimming pools. Pick up the phone right now and call toll free 800-328-4551. In Minnesota call 800-752-4264. Local 340-5300. C urtis hoteL T he Fr o n t D o o r TO M in n e a po lis . 327 South 10th Street Rate subject to state and local taxes. Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis animation systems to advertise to the local community. ® Dr. Aelred Kurtenbach, president of Daktronics in Brookings, S.D., has announced that the Venus 4000 software has been updated to in clude many new features. The major ® ones are: 1. Telephone interface for control of the display from a remote loca tion. 2. Repeat function, which allows ® the repeating of frames without us ing additional memory for disk storage. 3. Include function which allows ^ sequences to be included in a master ^ sequence. 4. Additional display modes, two hold modes and 17 exit modes. 5. Single step display feature, 0 which allows the operator to display a sequence frame by frame simply by pressing a key each time the next frame is desired. 6. Instant display feature. £ 7. Automatic scheduling function has been enhanced. 8. Combine Frames - gives four ways to combine two frames into one. ^ 9. Video image reader for easy entering of graphic characters. The Venus 4000 gives businesses, shopping malls, civic centers and educational institutions a popular 0 new communication system. San Francisco Hosts RMA Conference Oct. 30-Nov. 2 0 Robert Morris Associates will hold its 69th annual Fall Conference October 30-November 2 at the Fair mont Hotel in San Francisco. More than 1,800 bank commercial ^ lending and credit officers and spouses are expected to attend the Conference. The program will focus on a wide range of topics of interest ^ to domestic and international com- ^ mercial lending officers. The keynote address will be delivered by Stephen T. McLin, senior vice president and director of 0 Strategic Planning for Bank of America, N.T. & S.A., San Fran cisco. Major addresses also will be given to RM A President Jack R. Crigger and Olaf Isachsen, Ph.D. 0 Mr. Crigger is executive vice presi dent, American National Bank & Trust Com pany, Chattanooga, Tenn.; Dr. Isachsen is president, In stitute for Management Develop- 0 ment, Oakland, Calif. 15 0 Collin Fritz Schedules IRA-Keogh Seminars A series of IRA-Keogh seminars has been scheduled by Collin Fritz, a 0 widely-known banking consultant and attorney, during October, November and December. Three seminars were held in Nebraska last month. 0 i> Mr. Fritz said the seminars will offer a review of IRA procedures and rollovers, changes in Tefra, the Technical Correction Act and new forms and reporting forms in a mor0 ning program. After lunch he will discuss marketing and investment o p p o r t u n it ie s th a t can aid customers. This will be followed by an update on Keogh and SEP Plans 0 before adjournment. Further meeting dates and loca tions are being arranged by Fritz in addition to the following confirmed schedule: 0 Oct. 4—Billings, Mont., Northern Hotel. Oct. 5—Missoula, Mont., Red Lion Village Inn. O ct. 19 —R apid C ity, S.D ., • Howard Johnson’s Motor Lodge. O ct. 20 —S io u x F a lls, S .D ., Howard Johnson’s Motor Lodge. Nov. 8—Storm Lake, la., Harbor House. ® Nov. 9—Waterloo, la., Holiday Civic Center. N o v . 22 — Io w a C ity , la ., Highlander. Dec. 6—Des Moines, la., Hotel ® Savery. of Minneapolis was received on September 16. Norwest Financial, Inc. is a finan cial services concern headquartered in Des Moines, Iowa. The company’s business activities include consumer and commercial loans, retail sales financing and equipment leasing. In additon, the company is the leading purveyor of computer services to the consumer finance industry. Norwest Financial, Inc., formerly Dial Finan cial Corporation, was acquired by Norwest Corporation in September, 1982. MGIC Simplifies Loan Structuring for Lenders To help lenders manage the often complicated and time-consuming process involved with structuring a variety of loan programs, Mortgage Guaranty Insurance Corporation has introduced a new service, the M G IC M o rtg a g e In form a tion System. The MMIS consists of a series of computer programs that provide loan data and analysis information required to structure loan programs. The pre-programmed menu of mor tgage loan types, offering certain op tional features, allows lenders to design loans to meet the particular lending needs of the institution. “ The computerized system is not only easy to access, but the lender can customize loan origination and structuring to meet marketplace needs,” said William H. Lacy, presi dent of MGIC. “ The program calculates loan information accor ding to desired loan characteristics and optional features, such as buydowns, negative amortization and graduated payments.” To further reduce lender time and costs in structuring special loan pro grams, MGIC has developed the Master Mortgage Preset System. This new feature allows lenders to preset certain loan characteristics consistent for all loans of a par ticular type. Buydown information and under writing ratios, for example, can be programmed in advance, thereby saving valuable computer access time. Once the customized loan characteristics are on the computer, the lender need only enter variable information, such as home price and loan am ou n t, for each loan originated. Norwest Financial Gets OK to Buy USLIFE Credit ^ Norwest Financial, Inc. issued $50 millon of 12% senior notes, series 1989 through Salom on Brothers, Inc., on September 20. Maturing July 1, 1989, the notes q were priced at 100 percent. The notes were issued pursuant to a shelf registration statement filed by the company in December, 1982, covering up to $200 million of debt 0 securities, $150 million of which have now been issued. The notes are non-callable prior to July 1, 1988. Thereafter, they are redeemable at par plus accrued interest. 0 Net proceeds of the current offer ing will be applied to help fund the purchase of approximately $184 m illio n o f co n su m er fin a n ce receivables from USLIFE Credit 0 Corporation. Approval for the pur chase by the Federal Reserve Bank https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 Now ! The system yo raise, lower, mi The new IBM 4700 Finance C om munications System. Small, attractive and modular, it fully acknowledges that people are human. Now, it doesn’t matter whether they’re short, tall, medium, right-handed, or lefthanded individuals. Individual tellers and platform officers can adjust the displays and keyboards for optimum efficiency and viewing from almost any angle. They can choose to tilt the displays, swivel the displays, suspend the displays, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis raise the keyboards, angle the keyboards or move the keyboards. In short, the system adjusts to people. Not vice versa. • Custom-tailor your workstations. There are two new displays (with 5 V2" * and 9" screens) and three new keyboards. Choose any combination to give every individual a custom-tailored workstation for the job. And more space to do it in. • Choose receipt/validation printers, pan tilt, swivel, suspend, m atch, and grow with. passbook/document printers, a PIN key pad and more. The end result? The system helps peo ple work more comfortably so, in turn, they work more productively. Custom-tailor your entire system. The heart of the system is the powerful new 4701 controller. It’s programmable in COBOL and compact enough to fit on a tabletop. Compatible with the IBM 3600, E j r https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis the IBM 4700 provides enhanced performance and expanded capabilities. Whether you’re a bank, thrift or servi cer, large or small, you’ll find the 4700 system is a perfect fit. Try it on for size. It’s an attractive, easy-to-use, easy-to-install, evolutionary system for teller, administra tive and ATM applications. For more information, write IBM Fi nance Industry, Department 762 C, Post ~ = Office Box 10, Princeton, New .JEErE^ Jersey 08540. 18 BMA Will Meet at Atlanta Hilton WO CHALLENGES for bank marketers—to manage for pro fitability and develop strategies to meet the threat of non-bank com petition -w ill be among the leading issues addressed at the Bank Marketing Association’s 68th an nual convention slated for Oct. 23-26 at the Atlanta Hilton. A n e s tim a te d 2 ,0 0 0 bank marketing professionals are ex pected in Atlanta for the four-day conference, highlighted by such featured speakers as futurist author John Naisbitt, Archie J. McGill, Jr., former president of AT& T’s A d vanced Information Systems Divi sion, and R.A. McKinnon, vice presi dent of marketing for Delta Air Lines, Inc. Also joining the list of notables in government, business and banking addressing the BM A conference is U.S. Rep. Doug Barnard, Jr., D-Ga., a member of the Banking, Finance, and Urban Affairs Committee and chairman of the Subcommittee on Commerce, Consumer, and Mone tary Affairs of the Government Op erations Committee. Rep. Barnard, T Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis services for South Carolina National Bank, Columbia, noted that many of the sessions focus “ on the tactics and issues involved in moving to the new marketing role required of financial institutions.’’ Among speakers for a special break-out session on electronic banking and ATM networks are D. Dale Browning, president, Plus System, Inc., Denver; Bruce A. Burchfield, president, Cirrus System, Inc., Oakbrook, 111.; George J. Fesus, executive vice president, MasterCard International, New York, and John O. Smith, director, ATM Network, Visa USA, Inc., San Francisco. In another convention session, a panel of presidents of Federal Reserve banks will discuss “ Trends in Bank Regulation and Competi t io n .” The p an elists include: R.A. MC KINNON REP. D. BARNARD, JR William F. Ford, president of the a veteran bank marketer, formerly Federal Reserve Bank of Atlanta; E. served as executive vice president Gerald Corrigan, president of the for marketing and public relations Federal Reserve Bank of Min for Georgia Railroad Bank & Trust, neapolis; and Anthony M. Solomon, Augusta. president of the Federal Reserve Convention Chairman Robert T. Bank of New York. Perdue, who also is vice president Another panel of prominent bank and manager of wholesale support stock analysts will predict the ® ^ W ^ ^ q o O 19 ^ outlook for commercial bank pro fitability in the ’80s. They include: David C. Cates, president, Cates Consulting Analysts, Inc.; Donald C. Waite, III, director, McKinsey & || Company, Inc.; and William M. Weiant, managing director, First Boston Corporation. The convention’s keynote speech will be presented by Mr. McGill. || M r. N a is b itt, w h ose b ook “ Megatrends” for weeks has been on the New York Times best-seller list, will address the audience at Wednesday’s closing luncheon. # Mr. McKinnon, Delta’s vice presi dent of marketing, will present “ Marketing in a Deregulated En vironment—It’s a New Ballgame.” A n oth er speaker, M iles A. # Nelson, director of marketing infor mation and communication for the 3M Company, Minneapolis, will highlight marketing’s responsibility at 3M, which is considered to be one • of the top ten well-managed com panies in the country. Break-out sessions are scheduled on all phases of bank marketing, in cluding product development, pric• ing, sales development/management, positioning, and distribution. RMA Slates Credit Analysis Seminars e g in n in g in O c to b e r , Robert Morris Associates will again offer its highly-acclaimed Uniform Credit Analysis seminars to members and nonmembers of the association. A total of four open-enrollment seminars have been scheduled for the 1983-84 fiscal year. The dates are October 16-21; November 13-18; February 5-10, 1984; and April 29-May 4, 1984. Each UCA seminar will be held at the Xerox Interna tional Center for Training and Development in Leesburg, Va. The Uniform Credit Analysis seminar is one of the most intensive educational events that RM A has ever offered. When participants suc cessfully complete the five day, 52-hour seminar, they return to their banks with a practical working knowledge of this unique cash flow analysis system. In addition, with the aid of a UCA instructor’s package, participants are prepared to teach Uniform Credit Analysis to others in their banks. Program participants will work manually and then with the aid of B microcomputers. In addition to developing historical and projected cash flow, they will learn to under-s tand and use the UCA format and structure; learn how cash flow is linked to traditional analysis; learn to use microcomputer-generated “ what if” analysis in structuring loans; analyze a borrower’s earnings and determine future cash flows; assess and evaluate the skill and ef fectiveness of a borrower’s manage ment; and examine the impact of in dustry trends, the economy, and competition on a borrower. UCA is structured for experienc ed lenders who already are proficient in credit and who are actively mak ing loans. It also is for senior analysts who need to expand their capabilities so they can understand, support, and objectively view the lender’s decision. The UCA faculty are experienced, skilled teachers with excellent bank credentials. For more information, or to register, contact the RM A Registrar in the RM A National Office in Philadelphia, (215) 665-2850. Drovers Bank of Chicago is actively seeking correspondent banks. Seeking and earning them. Fact: Drovers is one of the oldest correspondent banks in the midwest. Fact: Drovers now has over 250 correspondent banks across the midwest. new relationships last year. Old-fashioned 36 36 new relat: words like service, responsiveness, personal attention, expertise and professionalism. And new-fash ioned words like discount brokerage for your customers and recycling Market Funds. Call John Crotty, Kathy Money Mark« Hardy, Max Roy or Andy Ruments... people who reflect a continuity in policy and commitment. Call toll-free 1-800-621-8991, in Illinois call 1-800-572-2498. inIvear. •^ 9 it> / Drovers Bank o f Chicago 47th & Ashland Ave., Chicago, IL 60609 • 1-312-927-7000 MEMBER FEDERAL RESERVE SYSTEM AND FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 20 WithFirstTkrnmork,yourrelationship withFirstChicagoisn’tfustbankto bank.It’spartnertopartner” “When you are a correspondent of First Chicago, it means having access to the vast resources of a money-center bank. It means having teams of specialists working together to deliver the kind of products your bank needs. And it means a partnership that supports instead of supplants. “You w on’t find a bank in the Midwest that’s organized to deliver its resources m ore effectively than First Chicago. You’ll w o rk w ith a relationship manager from our highly trained specialty team s—the Com munity Banking Team, the Illinois Team and the Midwest Team — according to your specific needs. “When you’re a correspondent with First Chicago, w e w on’t ju st be w orking with yo u —w e ’ll be w orking fo r you. “See how First Team work can w o rk fo r you. Call me, Neal Trogdon, at (312) 732-7780.’’ F irst Chicago Atlanta—Ba Iti more—Boston—Ch icago— Cleveland— Dallas—Denver— Houston—Los Angeles— Miami — New York—San Francisco— Washington, D.C. 0 FIRST CHICAGO The First National Bankof Chicago e o l/. ThomasM. King Cmimunity Banking Çy FIRST TEAMWORK WORKS © 1 9 8 3 The First National Bank o f Chicago. M em ber RD.I.C. Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 ABA’s first priority: Meeting bankers’ needs Written Especially for The N o r th w e ste r n B a n k e r By L.A. JOHNS Chairman A B A Community Bankers Council President Isabella Bank & Trust Mount Pleasant, Mich. Q . Faced with the deregulation o f interest rates and the creation o f m oney market accounts and Super NOWs, bankers asked, “How do we profitably price our deposit instruments?” Q . Knowing that Apples (computers) are different from oranges but not how to use them, bankers guestioned, “Can microcomputers perform needed functions in our institutions?“ Q . Aware that Congress had passed the Depository Institutions Act o f 1982, bankers inguired, “How that we have the law, what steps should we take to benefit from it?“ ^ ^ 0 Editor's N ote: Since the majority o f American Bankers A s s o ciation members are Community Banks, we invited the au thor, Larry Johns, to tell our readers in this exclusive article how A B A is reponding to the needs o f Community Banks in today's highly com petitive marketplace. Bankers who at tended the extrem ely well-received micro-computer sessions presented by the Community Bankers Council at the 1982 A B A convention in Atlanta last October will be interested in the continued advances noted in the following article, and the special Community Bank sessions planned for this year's A B A convention program in Honolulu. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ND TH EIR questions were heard and answered in one place — the American Bankers Association Community Bankers Council. •To meet bankers’ needs for assistance in analyzing the potential profitability of offering new deposit in struments, the Community Bankers Council published “ The Earnings Impact of New and Repriced Deposit Instruments,’ ’ a publication prepared in cooperation with A B A ’s Economic and Policy Research Division. •To meet bankers’ need for an understanding of mi- A Northwestern Banker, October, 1983 22 “ Meeting needs, then, is what ABA’s Community Bankers Council is all about.” crocomputers and their applications within the bank, the Community Bankers Council, in cooperation with A B A ’s Education Policy and Development Group, de veloped a comprehensive series of workshops on the subject for A B A ’s 1982 and 1983 Annual Conventions and for the 1982 and 1983 A B A National Assembly for Community Banking. For the banker already familiar with micros, A B A developed a financial analysis soft ware package entitled “ Micro-computer Modeling to Improve Community Bank Financial Performance.’ ’ Using this package, a banker can learn, in a few hours, how to use a personal computer to develop a five-year strategic planning forecast, prepare an annual profit plan and much more. •To meet bankers’ need for practical knowledge about the implications of the 1982 Garn/St. Germain banking law, the Community Bankers Council published “ The Manager’s Guide to the Banking Bill of 1982” within a month of the signing of the law. Meeting Needs Meeting needs, then, is what A B A ’s Community Bankers Council is all about, and how it’s being done is a story that began a little more than two years ago. At that time, concern began to develop within A B A that as banking is deregulated it would become more challenging and complex and so would the needs of the association’s members. What A B A should have, said a group of bankers, was an assembly of members that would meet regularly to provide grass roots input to the association. The result was the Community Bankers Advisory Board — composed of 183 members selected so that each represents roughly 100 other community bankers within his or her state. For this board, a “ community bank” was defined as a bank with deposits of $150 mil lion or less. The Advisory Board meets twice a year to identify the short- and intermediate term requisites of the banking community — in terms of both legislation and regulation and products and services. The list that results is then priortized, so that A B A can put first things first. The Council at Work The responsibility for seeing that the work gets done lies with the 16 members of the Community Bankers Council*, which designs, develops, and delivers the products and services. This Council is one of six that form A B A policy. In addition, the council chairman has a permanent seat on the A B A Board, and the vice chairman has a seat on the administrative committee of the Government Relations Council, assuring the opFour of the 16 Community Bankers Council members are from the area served by the NORTHWESTERN BANKER. They are: Randy Killebrew, president, First National Bank, Petersburg, III. Ed J. Leahy, president, Northwestern State Bank, Orange City, ia. John Lillibridge, chairman, First Fidelity Bank, Burke, S.D. George Mcllvaine, president, Saratoga State Bank, Saratoga, Wyo. Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis portunity for input in the deliberations of those impor tant A B A bodies. Knowing a banker’s needs is only one part of the process. Just as important is delivering the desired in formation in a useful format. One Response - Competitech With this in mind, A B A developed Competitech, a monthly subscription series providing techniques and technology that bankers can easily implement within their institutions. Each volume is a comprehensive, clear, one-stop instruction and reference manual on such key banking topics as improving teller perfor mance or controlling bankruptcy losses. Subjects covered in Competitech are derived from the Advisory Board’s list of areas in which operational know-how is most desired. With annual subscriptions now exceeding 1,400 and sales of back issues having topped the 3,500 mark, Competitech appears to be on target. Recent issues have examined repricing bank services, buying and using a microcomputer and parti cipating in the secondary mortgage market — the sub jects the Advisory Board listed as top priorities. Another Response - Banctraining Bankers also told A B A they urgently needed assis tance in staff training. They were unhappy about the lack of selection and quality of video programs on the market. The response has been A B A ’s Banctraining pro gram, a series of instructional videotapes designed to develop skills that enhance the marketing ability and overall productivity of bank employees. Subjects cov ered have included: “ Selling Bank Services,” “ Improv ing Productivity on the Front Line,” “ Telephone Com munication Skills,” “ Listening for Results” and “ Working Together as a Team.” Again, these are not topics chosen at random but those identified as most important by bankers. Annual subscribers to the program receive not only 10 videotapes, but also discussion guides and work sheet masters, four issues of a quarterly staff training newsletter and the opportunity to participate in an an nual seminar on video training techniques. Other Needs and Responses Other examples of banker needs and Community Banker Council responses have included: Need ABA Response News of new, successful A “ Quick Alert” column banking ideas and tech in A B A ’s Bankers News niques Weekly newspaper Opportunity to share Increased emphasis on ideas with peers on a special interest sessions national basis but on a and roundtable discussmaller scale than at the sion sessions at the 1983 A B A Convention A B A National Assembly for Community Banking in New Orleans Training in market and 1-1/2 day workshop prior product development to the A B A National Assembly for Community Banking By now it is apparent that A B A uses a variety of MEETING BANKERS’ NEEDS... (Turn to page 27, please) 23 A banker’s guide to depositions Written especially for T he N o r t h w e s t e r n B a n k e r By JON R. PEARCE Stanley, Lande, Coulter & Pearce, Attorneys Muscatine, la. 4) # ® 9 ^ ^ a 11 | F YOUR BAN K is involved in a lawsuit, the opposI ing party’s lawyer may take your deposition. A deposition is the oral testimony of a party or a witness, taken befor trial. This article provides the information you need to prepare for your deposition. It is not a substitute for the specific advice you will need from your bank’s lawyer, but it will serve as an aid to help you work more effectively with the lawyer. Depositions and the Discovery Process The person whose deposition is taken is the “ depo nent.” The deponent is sworn to tell the truth, and the attorney who takes the deposition (the “ examining at torney” ) asks the deponent questions to learn what relevant facts the deponent knows about the lawsuit. A court reporter records the testimony, usually with a stenographic machine. Later, a typed transcript of the questions and answers will be prepared. Depositions serve several purposes: 1. Discovery. Both sides can discover relevant facts, thus avoiding the “ trial by ambush” practice of years gone by. If the court of jury has all the relevant facts, it is better able to make an informed decision. 2. Evidence. If a witness is unavailable at the time of trial, the transcript of his or her deposition testimony can be used as evidence. 3. Impeachment. A deposition “ nails down” the testimony of a witness and provides a tool for impeach ment if the trial testimony of the witness varies from the deposition testimony. Depositions are part of the discovery process that takes place before the actual trial. This process enables each party to “ discover” relevant facts, both favorable and unfavorable. In addition to depositions, the parties may use some or all of the following discovery pro cedures. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1. Interrogatories—written questions that must be answered in writing, under oath, by the responding party. Interrogatories are generally used to identify witnesses and relevant documents. 2. Requests for Admissions—written requests that the responding party admit the truth of a particular statement or the genuiness of a particular document. This procedure is used to establish matters about which there is, or should be, no real dispute. After trial, if the Court determines that a party unreasonably refused to make a requested admission, the Court may order that party to reimburse the other party for the reasonable cost of proving the matter in question. 3. Requests for Production—written requests that require another party to produce relevant documents or things for inspection and copying. What to do Before Your Deposition You should meet with your bank’s lawyer well before your deposition. Depending on the nature of the case, there may be several matters that should be discussed. 1. Documents to Review. Ask what documents you should review before your deposition. For example, the bank’s lawyer may want you to become familiar with depositions of other witnesses, answers to inter rogatories, certain pleadings on file in the lawsuit, or documents produced for inspection by the other side, as well as any documents the bank has concerning the case. However, do not bring any documents with you to the deposition without advance approval from the bank’s lawyer. 2. Embarrassing or Damaging Facts. If you believe there are potentially damaging facts that might come out at your deposition, discuss them in advance with the bank’s lawyer. It may be that a particular fact is not actually a problem from a legal standpoint, or Northwestern Banker, October, 1983 24 “ The point is, don’t guess. If you don’t know or can’t remember, then that should be your answer.” there may be some legal reason why it need not be disclosed. If there is anything in your personal background you believe might be a source of embarrassment, do not hesitate to discuss it with the bank’s lawyer. For example, if you have had domestic problems, been fired from a previous job, or received medical treatment for an illness that you may not wish to reveal, those facts may be completely irrelevant to the particular lawsuit. If you are asked about them, the bank’s lawyer may simply instruct you not to answer the question. However, you need to bring such matters to the lawyer’s attention before the deposition so he or she can determine whether disclosure is required. The lawyer can also help you develop an approach to answering difficult questions. 3. Possible Areas o f Privilege. Discuss any potential areas of privilege with the bank’s lawyer. These would include attorney-client communications, proprietary information on bank operations, and information on bank customers who are not involved in the lawsuit. For example, the bank’s lawyer may well conclude that the bank should not disclose information about another customer without the customer’s permission or a court order directing the bank to disclose the infor mation, issued upon adequate notice to the customer. Voluntary disclosure of information about a bank customer not involved in the lawsuit may expose the bank to liability. 4. Handling Objections. Questions may be asked in a deposition even though the answers might not be ad missible at trial. For example, a deponent can be asked to tell what someone else said, even though at trial such testimony might be inadmissible hearsay. While most objections need not be made until the particular deposition testimony is offered into evidence at trial, the bank’s lawyer may make some ob jections during the deposition. If that happens, the usual procedure is that the deponent will be allowed to answer the question after the objection is made, unless the bank’s lawyer specifically instructs the deponent not to answer as part of the objection. How to Answer the Questions at the Deposition If you understand the follow three basic rules, you will handle your deposition without difficulty: 1. Listen to the Question. Listen very carefully to each question asked by the examining attorney. Force yourself to hesitate a second or two before you begin your answer, to make certain you have heard and understood the whole question. This also gives the bank’s lawyer a chance to make any objection he or she might have to the question before you begin your answer. Lawyers sometimes use technical jargon. If the ex amining attorney uses a word or phrase you do not understand, simply say that you do not understand it and ask the examining attorney to explain it or to ask the question in a different way. Do not be the least bit embarrassed to say you do not understand a particular word or phrase or the entire question. 2. Answer Only the Question A sked—And Nothing Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis More. As a deponent, you are obligated to give com plete, honest, and responsive answers to the question. Do that as succinctly as you can, and then STOP! Never volunteer any information beyond what is re quired to answer the specific question. Resist any temptation to be overly helpful. The ex amining attorney may seem friendly, but his or her on ly mission is to prevent your bank from prevailing in the lawsuit. Helping the opposing party prove its case against your bank is not part of your job. 3. Tell the Absolute Truth. It is a rare deponent who tells blatant lies. Instead, problems arise when an otherwise truthful deponent gives an answer but is really uncertain whether the answer is entirely correct. For example, assume you witnessed an automobile ac cident and at your deposition, you are asked the color of the car you say ran a stop sign. You are uncertain ofthe color of the car, but rather than say you can’t remember or are uncertain, you testify that the car was blue. Later on, photographs conclusively prove the car was yellow. While it probably doesn’t make much dif ference what color the car actually was, you have damaged your credibility. Opposing counsel will say “ You were wrong about the color of the car, weren’t you? It’s also possible you were wrong about whether the car ran the stop sign, isn’t it?” If you had told the absolute truth, which was that you couldn’t remember what color the car was, you wouldn’t have had any problem. Instead, an inpetuous response to a question that didn’t mean anything in the first palce has seriously impaired your credibility. The point is, don’t guess. If you don’t know or can’t remember, then that should be your answer. Conclusion Before the deposition, make certain you and your bank’s lawyer have fully and candidly discussed all aspects of the deposition. Remember the three basic rules: 1. Listen to the question; 2. Answer only the queston asked--and nothing more; 3. Tell the absolute truth. Keep these additional tips in mind: 1. DO NOT join in the lawyers’ conversational banter. Lawyers tend to be friendly adversaries, since they deal with each other on a recurring basis. However, you should not be deceived by this air of cor diality; depositions and lawsuits are serious business. Answer the questions during your deposition, but do not volunteer information at any other time. If you don’t say anything, you can’t create a problem. 2. DO NOT let opposing counsel make you angry. An angry person cannot be an effective witness. When people think about lawsuits, they often im agine flamboyant trial lawyers winning big cases with smooth talk and brilliant strategies. The truth is that good witnesses win more lawsuits than smart lawyers. A good witness is one who has credibility. Being well prepared for your deposition will significantly enhance your credibility. □ THE a r k e t in g a t r ix M A new tool for analyzing your bank’s competitive strengths and weaknesses By ROBERT D. LARRANAGA □ M r. Larranaga is president o f A s sociates and Larranaga, Minne tonka, Minn., advertising agency that serves 21 banks nationwide. The agency also publishes a series o f money management newsletters for bank customers, called Priority Pub lications. N CREASED competition has forced many banks to re-examine the strengths and weaknesses of their image. But defining your image, and capitalizing on it, is no simple task because it entails an analysis of many separate, but interrellated fac tors. I “ The Marketing Matrix” To aid our clients in the process of image identification, we have cre ated a management tool called “ The Marketing Matrix.” This simple technique uses a grid to break down the process into a series of steps de signed to identify critical factors that shape a bank’s image. Once the factors have been identified, we de termine their relative importance in the consumers’ mind, and ask cus tomers to rate our client versus its competitors on each of the image factors. The rating each bank re ceives for each factor is then weight ed according to the overall impor tance of that factor. And the results are entered on the marketing ma trix. Once the weighted scores have been entered on the marketing ma trix, we can tell in a glance where our client is at a competitive advan tage or disadvantage on any given factors, and, overall. Equally impor tant, we can tell where any single improvement would have the great est positive impact because we know how critical each factor is in shaping a bank’s image. How the Process Works In practical terms, here is how the process works... Marketing Matrix 1 Factor Convenient Location Convenient Hours ‘ Innovative ‘ Community Oriented ‘ Full Service ‘ Friendly ‘ Expertise Size Stability Drive-up bank Automatic Teller Fast Service 2 Im portance 20 10 5 5 5 15 10 5 5 10 5 5 3 Bank A unwtd wtd 8 8 5 5 8 5 5 5 8 8 3 6 160 80 25 25 40 65 50 25 40 80 15 30 635 ‘ All these factors would be enhanced by a newsletter. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1. The first step in the process is to define your market geographically and demographically; and, also, to determine who your three major competitors are. 2. The second step is to interview 100 prospects and ask them what factors influence their choice of a bank. For example, they might mention location, size, friendly service, etc. Enter the 10 most fre quently mentioned factors in col umn one of the marketing matrix. Next, ask the prospects to tell you how important each factor is by having them distribute 100 points across the list of 10 critical fac tors. For example, if “ location” is very important prospects give it 30 points; if “ size” is not impor tant it might not get any points; and so on. Enter these ratings in column two of the matrix. 3. Then, ask each prospect to rate each bank on every factor by us ing a scale of 1 to 10, where 5 equals “ average” and 10 equals “ superb.” Enter the score in col umns three, four, five and six. You now know the importance of each factor influencing the choice of bank and how your bank compares point-by-point. 4. The final step in the process calls for weighting the scores for your bank by the importance of each factor. The result is your relative strength point-by-point, and over all. Generally speaking, a difference MARKETING MATRIX... (Turn to page 27, please) -Quality Comparison 4 Bank B unwtd wtd 7 8 7 7 8 5 6 6 8 8 7 4 140 80 35 35 40 65 60 30 40 80 35 20 660 5 Bank C unwtd wtd 7 8 5 5 8 5 4 4 8 8 7 4 140 80 25 25 40 65 40 20 40 80 35 20 610 6 Bank D unwtd wtd 6 8 7 5 8 5 4 4 8 8 8 4 120 80 35 25 40 65 40 20 40 80 40 20 605 Northwestern Banker, October, 1983 26 LEFT—Speaker Jim Layton, (center) pres., Clayton Brokerage, discusses ag trends with Bob Holt, ag. rep., First Natl. Bk., St. Joseph, and Chuck Leffler, pres., Leffler Investment Co., Lincoln, Neb. Right—Bill Manring, v.p., First Natl. Bk., St. Joseph; Jim Reynolds, pres. & gen. mgr., St. Joseph Stock Yards; H.H “ Beanie” Broadhead, dir., and John Karns, chmn. & c.e.o., First Stockyards Bk., St. Joseph. 27th Market Day Held in Stock Yards ANKERS from a four-state area attended the 27 th Annual St. Joseph Stock Yards Market Day held last month. Co-sponsored by First Stock Yards Bank and First National Bank, the event functions to acquaint the visiting bankers with the varied business and in dustry located within St. Joseph. This year’s industry tour was of the Stetson hat factory which is owned by a third generation St. Joseph manufacturer—Stevens Hat Company. With the tour ending in the facilities showroom outlet, the bankers resembled a convention of country western singers as they boarded the bus for the return to the stock yards. The afternoon ac tivities were adjourned to the St. Joseph Country Club following cur rent day livestock market reports and lunch at the Hoof and Horn Steak House. Featured speaker Jim Layton, president of Clayton Brokerage Company, was quick to establish the tone for the agri-business related afternoon session. He reported that B grain yields in the drought stricken midwest will be much more severe than earlier forecast with current corn yields ranging from 0-105 bushels per acre. The average yield is now expected to be near 44 bushels per acre and combined with land idled by the Payment In Kind program this represents a 50% reduction in the 1983 crop year com pared to 1982. And the soybean crop won’t fare much better. Also effected by the drought plus an onslaught of spider mites, current estimates point to a 30-35% soybean crop loss in 1983. The resulting low crop carry-over combined with the increasing global wide food supply demand have forecasters projecting record high grain prices. Due to the “ politically un palatable’ ’ cost of the PIK program, Mr. Layton does not foresee any type of a government sponsored crop set-aside program for 1984. To keep prices at a profitable level he advised the bankers to encourage sophisticated approaches to produc tion. He examples a 10% idle land requirement for lower loan costs in 1984. Following Mr. Layton’s presentation, an agri-business panel assembl ed to offer brief remarks pertaining to their area of experti se and to field questions from the bankers. The members were: Moderator Jim Reynolds, president and general manager of St. Joseph Stock Yards; Bill Ames, cattle representative, John Clay-Heady Fannen Livestock Company; Bob Waddell, Producers Livestock Marketing Association, Maurice Heitman, director, Holt County Missouri ASCS, and Bob Batte, manager, Bunge Corporation. The men representing the grain industry echoed the earlier forecasts on the disasterous yields for the 1983 crops. With the yields varying greatly from one geographic area to another, they cautioned that there will be a wide disparity in farm in come among farmers in the midwest. The panel members involved in livestock production had some rather dismal reports also. An- ^ ^ £ ^ H (ft MARKET DAY... (Turn to page 84, please) PANEL discussion members during afternoon session were: Bill Ames, cattle rep., John Clay-Heady Fannen Livestock Co.; Robert Wad dell, Producers Livestock Marketing Association; Maurice Heitman, Holt County Missouri ASCS office, and Robert IBatte, Bunge Corp., Kansas City, Mo. Right—J.R. Liljedahl, pres., and John D. Lind, v.p., & cash., First Natl. Bk., Essex, la. visit with Roger Hegarty, chmn., # First Midwest Bancorp. Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 27 Meeting bankers’ needs... (Continued from page 22) delivery systems to get its product to its members. Most of these fall under one of four categories: paper, video, meeting and seminar, and organization. Meetings and Seminars Already described have been the primary paper de livery system, Competitech, and the major video one, Banctraining video systems. Also important, however, is the Council’s efforts with meetings and seminars. 1. First and foremost is the A B A National Assem bly for Community Banking, at which senior execu tives have the opportunity not only to hear leading bankers, consultants and government officials but also to debate vital topics with their peers in dozens of workshops and roundtable discussion sessions. The 1984 A B A National Assembly for Community Bank ing will be held February 26-29 in Phoenix. 2. At the regional level is the new A B A Community Bank Executive Development Program, held for the first time in May in Williamsburg, Va. Designed by CEOs for CEOs, the program provided attendees with tools and knowledge to increase their bank’s produc tivity and profitability. Because of rave reviews, the A B A Community Bank Executive Program will be offered three times in 1984 — in Williamsburg in March and at two other locations in the Midwest or West later in the year. Local state associations are providing support. In addition to the Assembly and Development Pro gram, the Council will continue to monitor community MARKETING MATRIX... (Continued from page 25) in total matrix scores of less than 20 points is not significant. The greater a bank’s quality advantage the greater the opportunity for pricing differentials (interest rates and ser vice charges) while still offering a competitive value. In the marketing matrix, accom panying this article, we see a hypo thetical example in which Bank A has an overall advantage on banks C and D, but it trails bank B by 25 points. It could improve its image by adding automatic tellers, but each improvement in that area is on ly worth 5 points and it could be quite costly. On the other hand, if the bank could do something to strengthen its image as an in novative, friendly, community-ori ented bank with expertise, it would pick up 40 points. Let’s say the bank decides on the latter approach and starts sending its customers a money management newsletter that cross-sells existing services, features local community events and highlights bank person https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis bankers’ needs and meet them with appropriate schools, seminars or teleconferences. Organizational Cooperation The use of the fourth delivery system, organiza tional cooperation, began right at the time of the reor ganization of A B A ’s community banker activities, when the association recognized the value of develop ing a closer relationship with A B A ’s State Association Division. After all, both serve essentially the same con stituents. Thus, a community banker-state association alliance was formed within ABA. This has led to a closer coor dination of program development and a highly efficient delivery system. State associations may, if they desire, co-sponsor Community Banker Council programs, like the Community Bank Development Program described previously. In fact, more than 40 state associations are A B A partners for Competitech. Still evolving is the role of Community Banker Council state coordinators, the second organizational delivery system. A banker in each state, the District of Columbia and Puerto Rico has the two-way communi cations mission of keeping his colleagues informed of the Council’s efforts and serving as a conduit for his peers to transmit their needs and concerns back to ABA. Conclusion Thus, A B A ’s delivery systems are many — Compet itech, Banctraining, the state association alliance, the state coordinators and meetings and seminars — but the message is one: that A B A is dedicated to meeting the needs of all of its members, from the largest to the smallest. □ nel. Over a period of time, the bank Pelli, New Haven, Conn., as the ar should develop an overall image chitect for their proposed develop rating of 67.5 and a competitive ment of a full city block in edge. downtown Minneapolis. This in In fact, many banks are now tak cludes new quarters for Norwest’s ing the newsletter approach to turn lead bank. The block is bounded by their customers into clients, with a Sixth and Seventh Streets, Nicollet constellation of banking services Mall and Marquette Avenue. (Sept. which makes the account more loyal N o r th w e ste r n B a n k e r ). and profitable. For example, Priori Prof. Pelli is dean of the school of ty Publications of Minnetonka, Min architecture at Yale University. He nesota, is producing a customized has designed numerous worldmoney management newsletter for renowned structures in the United banks around the country. States, Canada and Asia. The matrix approach to market Subject to the execution and ing simply recognizes that the delivery of definitive agreements perceived quality of a financial ser and required permits relating to the vice transcends the features and p r o p o s e d new b u ild in g , the benefits of any one product. It in timetable for the project will be ap cludes other quality factors, such as proximately as follows: location, hours, and personnel. The September 1983: Design work matrix technique provides you with begins. a tool for determining the interplay Late 1983: Old bank building of all these factors in your market demolished. ing approach. □ Spring 1984: Rendering of new building unveiled. Fall 1984: Work on foundation Norwest/Oxford Select begins. Cesar Pelli As Architect Fall 1986: Retail mall opens. Norwest Corporation and Oxford Summer 1987: Office tower com Properties, Inc. have selected Cesar pleted. Tenant occupancy begins. Northwestern Banker, October, 1983 28 Wisconsin Survey Studies Journalists N IM P R O V E D fin a n c ia l services marketplace for con sumers has resulted from deregula tion of products and services, accor ding to consumer journalists writing for the nation’s daily newspapers. Wisconsin researchers, Mary-Beth Kuester, a consulting firm ex ecutive, and Professor Michael Houston of the University of Wisconsin-Madison, surveyed the consumer writers in an update of a 1977 study to detect key changes in consumer issues and attitudes in the A past six years and to examine emerging issues and opinions that have emerged. The journalists were polled on specific consumer issues, the effec tiveness of federal agencies, the con sumer movement and the consumer information environment. The study also looked at the prevalence of the consumer journalist position on dai ly newspapers and the extent to which these journalists considered themselves advocates. New to the 1983 study were questions about in BRANDT BRANDT EXTENDS SECURITY BEYOND A SHRED OF A DOUBT. flation, unemployment, interest rates and financial services. The Wisconsin Bankers Associa tion cooperated in the research pro ject. W BA represents approximate ly 636 commercial banks in the state and is head-quartered in Madison. According to Bryan Koontz, ex ecutive director of W BA, the bank ing industry recognizes that under standing the major issues and con cerns confronting consumers is essential in corporate decision mak ing. In the six years since the original study was conducted by Ms. K u ester and oth er g ra d u a te students in Professor Houston’s marketing research class, financial news has moved from business pages to front page news. A c c o r d in g to M r. K oon tz, deregulation of products and ser vices is the biggest news for the in dustry in the past months. This deregulation is viewed as a con sumer benefit, the study reported. However, the changing marketplace for financial services, both with new products an services and new of ferors of those services, is confusing to customers. Bankers will continue to emphasize consumer education, as well as education of employees to better serve customers, Mr. Koontz said. Copies of the report are available from Consumer Communications Resources, Inc., P.O. Box 232, Madison, Wisconsin 53701. Wisconsin Bankers Assn. Add Educator to Staff For over 90 years, Brandt has been known for top quality coin and currency processing equipment. Now we’re introducing a new line of document shredders and balers for added security and efficiency, Choose from 10 models ranging from compact units for desk-side use, to high-volume machines ca pable of handling five tons of paper per hour. For computer printouts. Microfilm/fiche. Credit cards. You’ll get the security you need, the versatility you want! All models feature easy, quiet operation. Service is available through a net work of Brandt factory-trained service specialists. Keep your sensitive and confidential documents from falling into the wrong hands. Call or write for complete information on Brandt document shredders and balers today. BRANDT BRANDT, INC., P.O. BOX 200, WATERTOWN, Wl 53094 Banker, October, 1983 Northwestern https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (414) 261-1780 Kim Kindschi, Madison, has joined the staff of the Wisconsin Bankers Association as associate director, Bryan Koontz, W BA executive di rector, announced. Mr. Kindschi, who had been a teacher at LaFollette High School, Madison, brings over 14 years of ex perience and expertise in education and curriculum development to the Association staff. Mr. Koontz also announced the promotions of Barbara Croucher and Deanne Esser recently. Ms. Croucher has been named comptroller. Ms. Esser, who has been on the W BA staff for the past 15 years, has been promoted to the new position of office manager. She had been ad ministrative assistant. 29 Give Us a Couple of Minutes.. .We’ll . Give You Years o f Great Service. At G.D.vanWagenen Company, we offer Blanket Single Interest insurance and our Automated Insurance Monitoring System. Prompt, fair claims handling is our #1 priority and has been for over thirty years. So talk to Don Miller or Les Lukken about our collateral protection programs. Spend a few moments n o w . . . and relax for years to come. w G.D. van Wagenen Company 524 Plymouth Building 12 South Sixth Street Minneapolis, Minnesota 55402 In Minnesota call: 1-612-333-2261 Out-of-State: 1-800-328-2052 Les Lukken Marketing Representative https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 30 Americas high performance bankers have made IN N ER LIN E a first year success. 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Find out how you can gain instant access to over 40 services designed exclusively for you. Call toll-free: 1-800/323-1321. (In Illinois call 1-800/942-8861.) O r write InnerLine, 60 Gould Center, Rolling Meadows, Illinois 60008. IMPERLINE YOUR ELECTRONIC BUSINESS PARTNER Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 31 at the IB A annual meeting, which will be held in conjunction with the Bank Management Conference, scheduled for November 16-17 at the Holiday Inn O ’Hare Kennedy. Illinois Officer Appointments Told D.R. Lovett, chmn. & pres., Dixon W. J. Hooter, exec. v . p . , Chicago At The Bank & Trust Company of Arlington Heights, Bette B. Perna has joined as senior vice president and cashier, community banking department. Mrs. Perna previously was associated with American Na tional Bank & Trust Company of Chicago as vice president. Capitol Bank & Trust Co. of Spr Cynthia B. Hagedorn has been ap ingfield. pointed assistant vice president and Region V personnel director. She brings 17 Large: Thomas Andes, First Na years of banking experience to her tional Bank of Belleville, and George new position. M. Ryrie, First National Bank & Mary Kay Phillips has been nam Trust Co., Alton. ed personal banking officer and Small: Walter E. Moehle, Old E x Terry B. Bischoff, instalment loan change Bank, Okaw ville, and officer. Mr. Phillips will also serve as Harlan Yates, Cisne State Bank. manager of the main office’s per Undesignated: Gerald K. Feezor, sonal banking department. Mr. Peoples Bank of Marion. Bischoff has had 15 years of Large Bank Category previous experience. Jay K. Buck, The Northern Trust Also at the bank, Robert T. Lin Co., Chicago; Willard Bunn III, coln, vice president, has assumed Springfield Marine Bank; Martin responsibilities as department head Farmer, The First National Bank of in the commercial banking area. He Chicago; William D. Plechaty, Con joined the bank in 1976. tinental Illinois National Bank & Trust Co. of Chicago, and David L. Webber, Harris Trust & Savings Skokie Promotions Told Bank, Chicago. Skokie Trust & Savings Bank has Election ballots will be mailed to announced the promotions of Phyllis members on October 17 and will be Cramer and Jo Ann Arnswald to due back in the IBA Chicago office assistant cashier and Marlene Cohen by November 7. to internal auditor. Election results will be announced Mrs. Cramer, formerly operations Candidates Slated for 1984 IBA Board HE SIX Illinois Bankers Associ ation committees on nomina tions, one for each region and one for the large bank category, have sub mitted the following slate of can didates for the IB A board of direc tors for 1984: Region I Large: David E. Albertson, State National Bank, Evanston, and Ken neth A. Skopec, The Mid-City Na tional Bank of Chicago. Small: Herbert A. Dolowy, Lin coln National Bank, Chicago, and James B. Lund, Matteson-Richton Bank. Undesignated: Charles E. Water man, South Holland Trust & Sav ings Bank. Region II Large: John A. Andersen, The First National Bank of Lake Forest, and Kevin T. Reardon, First Na tional Bank of Joliet. Small: William C. Gooch, Jr., York State Bank & Trust Co., Elmhurst, and Alan M. Meyer, First National Bank of Deerfield. Undesignated: Thomas F. Bolger, McHenry State Bank. Region III Large: Donald R. Lovett, Dixon National Bank, and Charles C. Wilson, First National Bank of The Quad Cities, Rock Island. Small: James A. Forster, The DeKalb Bank, and T.R. McDowell, First National Bank of Westville. Undesignated: Howard E. Bell, First National Bank & Trust Co. of Rockford. Region IV Large: James C. Coultas, Elliott State Bank, Jacksonville, and John W. Luttrell, First National Bank of Decatur. Small: Sam Scott, Scott State Bank, Bethany, and James L. Winningham, State Bank of Arthur. Undesignated: Warren Martin, T https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bank of Northfield Opens Facility PICTURED above is C. Andrew Lawrence, president, Bank of Northfield, at the ribbon cutting for the bank’s new Willow Hill Facility. The new office is located in the Willow Hill Executive Center at 550 Frontage Road in Northfield. Also pictured in the foreground is Karen Holway, manager of the new facility. Northwestern Banker, October, 1983 32 Illinois News officer, has been with Skokie Trust since 1977. Ms. Arnswald joined the bank in 1976 and has served in a variety of administrative and operational posi tions during that time. Ms. Cohen joined in 1974 and has also served in several administrative and operation positions including, most recently, assistant cashier. T.J. DAMMRICH J. SEYMOUR Lombard Election Told Josephine May has been elected senior vice president of the Bank of Yorktown, Lom bard. She joined the bank in 1971 as vice president and cashier and has held posi tions at Security National Bank, Visalia, Califor nia; the Bank of Clarendon Hills and Pullman Bank, Chicago. Ms. May holds a BA degree in business management from George Williams College in Downers Grove. Merger Agreement Announced First Freeport Corporation and First City Bancshares, Inc., bank holding company owning City Bank and Trust Company in Dixon, have agreed in principal to a merger tran saction involving total considera tion of approximately $3.5 million in common stock, convertible deben tures and cash. The transaction is subject to regulatory approval and is expected to be completed in the second or third quarter of 1984. IBA Appoints Two At its most recent meeting, the Il linois Bankers Association board of directors appointed Thomas J. Dammrich senior vice president and Jack Seymour vice president. These ap pointments were made upon the recommendation and with the con currence of executive vice president William J. Hocter. Mr. Dammrich’s new title will carry with it the overall managerial responsibility for all of the non legislative functions and programs of the Association. In this capacity, he will function as Mr. Hocter’s principal assistant. Mr. Dammrich received a BA in economics and an M BA with con Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis centration in finance from DePaul University of Chicago. He joined the IBA as director of education in February of 1978 and was promoted to vice president in July of 1980. Jack S eym our w ill assum e responsibility for researching and developing broad policy issues in all areas in which the association is in volved. He will also be monitoring the legal affairs of the IBA, par ticularly as they relate to involve ment with external legal con sultants. Mr. Seymour attended Illinois Wesleyan University and Sangamon State University and holds a BA degree in political science. Prior to joining the IBA in January of 1982, Mr. Seymour served as Director of the Department of Financial In stitutions of the State of Illinois. Burton J. Field was recently named president of Manufacturers B an k and a director of its p a re n t C om pany, Manufac turers National Corporation. He replaces Fred O. Sack, 70, who is retiring as presi dent but remain ing as a director. B.J. FIELD M r. F ie ld joined the bank in 1970 and has served for the past five years as ex ecutive vice president in charge of commercial loans and lease financ ing. Previously he was a lending of ficer at LaSalle National Bank. Mr. Sack, a retired senior vice president of the Harrris Bank, was named president and a director of Manufacturers in 1978. His banking experience spans 50 years * * * Scott Heitmann has been named president and chief executive officer of W.N. Lane In terfin a n cia l, commonly known as the L ane b a n k s. Previously Mr. Heitmann had served as ex e c u t iv e v ic e p resid en t and chief operating S. HEITMANN officer of North west National Bank of Chicago, the largest of the four Lane banks. Mr. Heitmann succeeds Rausey W. Mason, Jr., who has been elected executive vice president and chief operating officer of Fortune Federal Savings & Loan Association, Clear water, Fla. * * * The Cole-Taylor Financial Group has signed a contract with Ford City Corporation to acquire 92.3 percent ownership of the Ford City Bank and Trust Co., with assets of more than $200 million, according to a Shirley A. Buckner has been joint announcement by Sidney J. elected personal banking officer at Taylor, chairman of Cole-Taylor, Drovers Bank of Chicago, according and Bradley M. Stevens, president and chief executive officer of the to James J. Carmody, president. Ms. Buckner, who attended bank. This acquisition would add a fifth DePaul University, joined Drovers Bank in 1979 after several years at member bank to Cole-Taylor Finan Central National Bank in the per cial Group, pending regulatory ap proval. sonal banking department. 33 Robb B. Kelley Chairman, Employers Mutual Companies “Insurance is our business. And we intend to stay * 0 That’s our commitment to businesses throughout the midwest; a commitment we began in 1911 when the ^ first workers’ compensation law was passed in Iowa Today, in addition to workers’ compensation, Em ployers Mutual Companies offers a full range of insurance services tailored to your in dividual business needs. Our slogan says it best— We’ve Got What It Takes. W e’ve got the products. From general to specific coverages, including commercial auto, m 99 workers’ compensation, all forms of property and liability coverage and special package policies. We’ve got the service, too. Personalized local service through our branch and service offices throughout the midwest, and the professional independent agents who represent us in your hometown. Simply stated, w e’ve got the commitment to the business of business insurance-, a comiillfj m itm ent that has helped us to grow, and will help your business grow. WE’VE GOT WHAT IT TAKES Em ployers M utual Com panies Des Moines, Iowa https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 Start offering bigger services. By adding our leasing and asset-based financing programs to your current financing plans you can give your customers the equip ment or operating capital they need to prosper. In addition to helping your customers with these progressive financing services, you open up highly profitable avenues for investment. Leasing, for example, is often one of the most profitable investments in a bank’s portfolio. And includes substantial tax benefits. By participating in our asset-based lending programs, you gain a healthy return and add an important service that provides your clients with additional working capital. So when conventional financing won’t meet your customer’s demands, contact any one of our representatives listed. We’ll work with you to give your customers the flexible financing they need. And you’ll discover that it’s not the size of your services that counts, it’s the size of those standing behind you. For full details on Norwest Business Credit call: Bob Olson in Minneapolis (612) 372-7988, Don Park in Denver (303) 298-0515, Gary Hermann in Des Moines (515) 245-8406, or Barry Krause in Dallas (214) 2394555. For information on Norwest Leasing contact: John MacLeod in Minneapolis (612) 372-7416, Bennie Gates in Omaha (402) 536-2310, John Bailey in Des Moines (515) 245-3392, Chris Hoss in Fargo (701) 293-4273, or Steven Cozzens in Billings (406) 657-3581. Norwest Business Credit, Inc. Norwest Leasing, Inc. H k H mmmmm NORWEST CORPORATION m m m am MM'imm https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 35 Minnesota H.A. Lund, pres., Albert Lea T.L. Jeffers, exec, v.p., Minneapolis Officers Recommended for MBA Posts HE M INNNESOTA Bankers Association nominating commit tee met recently and recommended Galen T. Pate, Clinton D. Kurtz, Roy W. Terwilliger and R. Scott Jones for endorsement for the top ||) elected officers in the association for 1984-1985, according to William C. Rosacker, F&M Marquette National Bank, Minneapolis, and chairman of the 1983 nominating committee. # Recommendations were to be acted upon at each of the nine M BA district meetings held in September. Galen T. Pate, president, Signal Hills State Bank, West St. Paul, is || the proposed candidate for M BA president for 1984-1985, to succeed Herbert A. Lund, president, Securi ty State Bank, Albert Lea. Mr. Pate is currently serving as first vice III president of the association. Clinton D. Kurtz, president, # • ® ^ ^ ^ Redwood Falls Bank Elects New President Thomas A. Hollatz has been elected president and a director of th e F a rm e rs State Bank of Redwood Falls, succeeding Carl L. Lokker, Jr. who has resign ed to enter private business. Mr. H ollatz stepped into his new p o s it io n S ep tem ber 12 following seven years at the First State Bank of Webster City, Iowa, where he served as cashier and a director. Prior to joining the First State Bank, Mr. Hollatz was employed at the Merchants Na tional Bank in Winona. Mr. Lokker had served as the bank’s president for the past ten years. He will remain as an officer at the bank for a period of time while https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Citizens State Bank, Norwood, is proposed for M BA first vice presi dent for 1984-1985, to succeed Mr. Pate. Roy W. Terwilliger, president, Suburban National Bank, Eden P rairie, is the recom m en ded 1984-1985 candidate for second vice president. R. S co tt J on es, p resid en t, Goodhue County National Bank, Red Wing, is the recommended 1984-1985 candidate for treasurer, to succeed James R. Jorstad, presi dent, Citizens State Bank, Hayfield. The nominating committee in cludes the nine M B A district presidents. The recommendations were to be presented at the M BA district meetings and elections will take place at the June, 1984, Min nesota Bankers Association Annual Convention to he held in St. Paul. preparing to establish his business in the Redwood Falls area. Farmers State Bank relocated its main office from Morton to Red wood Falls August 8 of this year and continues to operate its Morton of fice as a full-service banking facility. Ellsworth State Observes 90 The Ellsworth State Bank ob serv ed its 9 0th a n n iv ersa ry September 16 with a luncheon and a drawing for prizes during an “ Ap preciation D ay’ ’ held for customers and friends. The bank began operations in 1893 and has served the Ellsworth community continously since that time. Rochester Promotions Told Edgar M. Morsman, Jr., presi dent of Norwest Bank Rochester, recently announced the promotion of four officers and the election of one new officer. David G. Wittenberg has been promoted to vice president and manager of the commercial real estate loan department. Mr. Wit tenberg has been with Norwest Cor poration since 1971 and joined Norwest Bank Rochester in 1978. Since December, 1980, Mr. Wit tenberg has served the bank as assistant vice president/commercial lending officer. Robert Clowes, assistant vice president-agricultural lending of ficer, has been promoted to vice president-agricultural lending of ficer. Mr. Clowes joined the bank in 1977. John Novotny has been promoted to assistant vice president and com mercial lending officer. Mr. Novotny join ed the bank in 1982 as commercial-agricultural lending of ficer. Conrad Schneider, credit analyst, has been promoted to credit depart ment manager. Mr. Schneider joined the bank in 1981 and before that had worked as a national bank examiner. Therese Satern was elected credit review officer. Ms. Satern started with the bank in 1977 as a parttime teller. Montevideo V.P. Named Jim Bakken has joined First Na tional Bank in Montevideo as a vice president. Mr. Bakken has extensive ex perience in agri cultural lending, having served as th e C anby branch manager, Production Credit Associa tion of Madison; a credit specialJ- BAKKEN ist with Federal Intermediate Credit Bank in St. Paul, and as a loan of ficer at the PCA office in Morris. First State-Chartered Savings Association Opens C om m issioner o f Com m erce Michael A. Hatch announced last month the opening of Minnesota Valley Savings and Loan Associa tion, Mankato, the first statechartered capital stock savings association to operate in Minnesota. The new association will be located at 915 South Front Street, Mankato. Robert L. Dammen, incorporator of the association from Mankato, will serve as president and chief operating officer. Northwestern Banker, October, 1983 Upper Midwestern banks get the total support they need with the comprehensive correspondent services offered by First Bank Saint Paul The services we provide to correspondent banks take many forms to help you stay in top form. Improving productivity and increasing profits. That's the bottom line of any correspondent banking relationship. Unfortunately, all too often, correspondents get only a partial commitment from their correspondent bank in regard to available services and personal attention. At First Bank Saint Paul, we provide a full array of services, including: Check Clearing Using the latest technology helps us to process more items, reduce your float, and speed up funds availability to optimize your investment potential. Bank Stock Financing We not only provide the funds you need, but also the technical experience of trained correspondent bankers. Loan Participation Overline loan participation reguires a fast response and strong capital backing. You'll find them both at First Bank Saint Paul. Data Processing Up-to-the-minute data processing eguipment allows us to apply current computer technology to help increase correspondent productivity and profits. Investment Services We provide a full range of investment options, such as government and agency securities, municipal bonds and money market instruments. Our correspondents know that our size affords them the financial resources they need; our flexibility assures them that we can adapt our services to their specific needs; and our professionals— from correspondent bankers to support staff— are always responsive and concerned about providing the best service available. Maybe this is the kind of performance you've been looking for from your correspondent bank. If you're not getting it, give us a call at (612) 291-5585. Like we said, "the services we provide to correspondent banks take many forms— to help you stay in top form." First Bank Saint Paul g. Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member First Bank System Correspondent Banking Division 332 Minnesota Street Saint Paul, Minnesota 55101 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 38 Twin Cities First Bank System, Inc. has elected Joel A. Bleeke executive vice president of cor porate develop ment and plann ing and Susan M. Lund vice p r e s id e n t of training. M r. B le e k e previously was associated with the Chicago of fice of McKinsey & Com pany, an international management consulting firm head quarter in New York. While there he served as senior engagem ent manager in the financial services group. Ms. Lund succeeds Lyle C. Sorum who was elected president of First Bank Grand Forks, N.D. She previously was manager of business and medical courseware in the courseware operations division at Control Data Corporation. * * * Michael Pint, senior vice presi dent and chief financial officer at the Minneapolis Federal Reserve Bank, has left that position to become chief ex ecutive officer of Corporate Bank Services of St. Paul. Mr. Pint serv ed as M inne PINT sota’ s banking commissioner from 1979-83, then re joined the Federal Reserve when his term of office was up. Corporate Bank Services provides management and advisory services to seven banks an several financerelated companies, insurance agen cies and real estate and property management concerns, all of which Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis are owned by St. Paul businessman Robert Keyes. Mr. Keyes owns banks in Minnesota, Wisconsin, Col orado and New Mexico. * * Bank of Minneapolis, which she joined in 1970 as assistant to counsel. • * * * * Sandra M. Pesheck has been elected assistant operations mana ger of First Bank Security, St. Paul. Ms. Pesheck previously has served at First Bank Duluth and First Bank Edina, where she has been in the operations department since 1981. * * * William J. Engels has been named president of the Metropolitan Bank Group Inc., an a ssocia tion of five community banks in the Twin Cities area. M r. E n g e ls brings exten sive banking ex perience to his new position. He has served as W.J. ENGELS president of Met ropolitan Bank of Minneapolis since 1971. * * * Ruth A. Reister has been elected president of FBS Agricultural Credit Corpora tion, the agricul tu ra l fin a n ce s u b s id ia r y o f F ir s t B an k System, Inc. M s. R eister has most recent ly been associat ed with the U.S. Department of Agriculture R.A. REISTER where she served as deputy undersecretary for small community and rural development. Prior to that she was with the Federal Reserve First Bank Minneapolis recently announced the addition of four new officers. L. Lindsay Mann has joined as assistant vice president in the cor porate C division. Ms. Mann had been with Mark Twain Bancshares, Inc., Kansas City, Mo., for two years, most recently as vice presi dent. L.L. MANN K.B. MONTGOMERY S.F. RHODE G.IL. MC DOWELL New officers include: Kimberly B. Montgomery, credit officer in the commercial banking training division; Sharon F. Rhode, retail m a r k e tin g o f f ic e r in the retail/metropolitan banking group, and Gary L. McDowell, professional banking officer in the professional banking I division. * * * Minnie B. Schroeder has joined the security dealer department of £ £ q Minnesota News F&M Marquette National Bank as assistant vice president. Before joining F&M Marquette, Ms. Schroeder was associated with First Bank Minneapolis where she was assistant vice president, regional bond sales. * * * and Kenneth R. Rossow, investment services; Richard K. Flesvig and Thomas L. Mork, correspondent banking; Alan J. Holz and Ronald S. Tollefson, personnel and Ronald R. Stroschein and James K. Thomas, operations. * * * First Bank Saint Paul recently an nounced the election of Joseph O. Weissenbom to senior vice presi dent-controller and member of the management committee and Ter rence J. Quinn to senior vice presi dent and head of group I-commercial banking. First Bank Southdale recently held an open house in honor of Jan Anderson, personal banking officer, who retired recently after 24 years. Ms. Anderson joined the bank in 1959 as a bookkeeper and most recently served in the retail division. * * * J.O. WEISSENBORN T.J. QUINN Mr. Weissenbom, who had been vice president-controller, previously was responsible for the general ac counting section of the controller’s office of Seattle - First National Bank. He is a CPA and holds a BS degree from the University of Min nesota. Mr. Quinn served in various capacities at First Bank Saint Paul from 1974-78. He returned to the bank last year as a vice president after having been associated with Eastern Heights State Bank and 3M. He holds BA and M BA degrees from the University of Minnesota. First Bank Saint Paul also an nounced the promotion to vice presi dent of Marcia S. Hanson, manager Shoreview facility; Richard E. Lloyd, commercial banking; Bruce A. Soma, consumer/corporate ser vices, and Leo L. Stadnik, opera tions. In addition, Filmore G. Enger, vice president, was named to head division B, commercial banking, and William R. Easton to vice president and head of international banking. Promoted to assistant vice presi dent were: Laird Anderson, Jr., Augustine P. Briguet, James N. Schimelpfenig and James D. Wannigman, consumer banking; Sophie H. Bell, Jeffy A. Sherman, Jerome A. Tabolich and Michael E. Traeger, commercial banking; Robert T. Charpentier, audit; Richard A. Diehl https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis David W. Gustafson has been elected executive vice president and a d ire cto r o f West St. Paul State Bank. Mr. G u staf son previously spent two years at the U nion State Bank as senior lending officer and six y ea rs at the D.W. GUSTAFSON First National Bank of Waconia as vice president and cashier. New Name: “ MetroBanks” 39 First American ■ Brainerd Offers Low Cost Home Loans First American Bank of Brainerd secured 46% of the Minnesota Hous in g F in a n ce A g e n c y m o n e y available in Region Five for home buyers of the Brainerd community. Of the $937,500.00 available dur ing the recent low cost loan program in the five county region (Crow W ing, Cass, T odd, M orrison, Wadena), First American obtained $431,250.00 for 15 home buyers. “ The funds for Region Five were pooled, and were reserved for first time home buyers on a first-comefirst-served basis,” stated Warren Williams, First American president. “ In other words, the sooner the customer could fill out the applica tion, the sooner we could reserve funds, hence the more loans we could obtain for our area.” To be eligible for the 1014%, 30-year, fixed rate loans applicants had to be first time home buyers, have a reasonable credit worthiness and have an adjusted household in come of less than $22,000 if purchas ing an existing home, or $27,000 if purchasing a new home. The max imum purchase price for an existing home was $50,000 and $63,000 for new construction. Special features of the program even allowed the applicants to ob tain money for the down payment and a monthly payment assistance program was available to help lower the monthly payments in the early years of the loan. MBA Commercial Lending School Elects Officers TWIN Cities’ Metropolitan Banks has shortened its name to “ MetroBanks” and selected the MetroBank robot as a representative of its new slogan: “ A little ahead of our time.” Shown above are the MetroBank robot and Metrobank senior of ficers (I to r): Richard Conlin, pres., Plymouth; John A. Price, Sr., pres., Bloom ington; William Engels, pres., Metropolitan Bank Group; Jerry Hentges, exec, v.p., Bloomington; Michael Morrison, pres., St. Paul, and Rollie Holt, exec, v.p., Min neapolis. During the August 7-12 session of the Minnesota Bankers Association Commercial Lending School, the following students were elected as class officers: President—Clark Connell, The Minnetonka Bank, Excelsior; Vice President—Mark Winter, First National Bank of the Lakes, Navarre, and Secretary-Treasurer—Todd A n derson, National City Bank, Min netonka. The class officers will represent the class of 78 students in atten dance for the first year session of the school. The students will return August, 1984, to complete their se cond year of the two week, two year course of study on commercial len ding. Northwestern Banker, October, 1983 MasonCity https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 41 When Dick Holmes isn’t on the road calling on bankers, he’s on the phone talking to them. Whether he’s on the road or in the office, Dick Holmes keeps in close contact with his respondent bankers. Dick knows that responding quickly to a question or problem is his most important responsibility; one he takes very seriously. That’s w hy he travels so often . . . uses the phone so m uch. . . and gets back to his bankers so fast. • Correspondent services you’d expect from a bank our size. When you work with Dick Holmes, you not only benefit from his thirteen years of experience, you also gain access to a wide range of Correspondent Banking services. Check clearings, collections, wire transfers, Fed Funds, investment services, bond portfolio analysis, ag and commercial overlines, bank stock loans, leasing, lock box service, and CashLine for efficient, up-to-the-minute cash management are examples of the many services Dick can offer you. i> ^ See how responsive we are. Call us today. 4I> If you think it’s time your Correspondent Banker paid a little more attention to you, call Dick Holmes or any of our experienced bankers at F&M Marquette’s Correspondent Banking Department. At F&M Marquette, we stay on top of your needs by staying in touch with you. A F&M Marquette National Bank 6th & Marquette Minneapolis Dick Holmes 612/341-6572 Bill Klein 612/341-6588 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bill Addington 612/341-6590 Larry Kraayenbrink 612/341-6587 Sandy Sickles Joan McCarthy Mark Schabert 612/341-6571 612/341-6561 612/341-6589 Phil Gallivan, Senior Vice President Northwestern Banker, October, 1983 42 Minnesota News MBA Committee Chairmen Named ERBERT Lund, president of th e M in n e s o ta B a n k ers Association, has named the follow ing 1983-84 M B A com m ittee chairmen for the following commit tees: Agricultural and Rural Develop ment Committee —C h a irm a n -Phillip Lee, Valley National Bank, Le Sueur, and Vice Chairman - Gary Knutson, American Bank & Trust Co., Moorhead. Bank Management CommitteeChairman - Newton Fuller, First Bank Burnsville; M anagem ent Education Subcommittee Chairman - Ernest Pierson, Norwest Bank Midland, Minneapolis, and Person nel S u b c o m m itte e C hairm an -Joseph Finley, Janesville State Bank. Communications Committee— Chairman - Roy Terwilliger, Subur ban National Bank, Eden Prairie, and Vice Chairman - David Shumway, First National Bank, Northfield. Education Policy & Development Committee—Chairman - Rodger Bense, State Bank of Long Lake, and Vice Chairman - Robert Ander son, First Bank Minneapolis. Group Insurance Committee— H Appointed to Board Maurice R. Asselin has been ap pointed to the board of Norwest Bank Sauk Rapids. Mr. Asselin most recently served as general paper mill superintendent for St. Regis Paper Company in Bucksport. He joined the Sartell group in 1980 as resident manager. Chairman - Don Welander, First State Bank, Wykoff, and Vice Chair man - D on a von Fisher, The Roseville Bank. Investments & Funds Manage ment Committee—Chairman - Nor man Sampson, Norwest Bank Red Wing, N.A., and Vice Chairman -William Landford, American Na tional Bank & Trust Co., St. Paul. Legislative Committee— Chair man - Leslie Peterson, Farmers State Bank, Trimont, and Vice Chairman - A.D. Didier, First American National Bank, St. Cloud. Lending Committee—Chairman -William Bohnhoff, Golden Valley Bank, and Vice Chairman - Michael Duepner, First National Bank, In ternational Falls. Operations Committee—Chair man - Michael Halvorson, First Na tional Bank, Waseca, and Vice Chairman - Richard Franzmeier, First Bank St. Paul. Pension Committee—Chairman -D.L. Stalboerger, Melrose State Bank, and Vice Chairman - William Endres, Pope County State Bank, Glenwood. Security Committee—Chairman -Charles Nuernberg, State Bank of Young America. Winner Named in Bremer Name Change Promotion Bank Sale Announced J. Robert Stassen, president of West St. Paul State Bank, has an nounced that controlling interest in the bank has been sold to Anchor Bancorp, Inc. of Wayzata. Anchor Bancorp, Inc. also has a controlling interest in the First National Bank of Wayzata, and is affiliated with the First National Bank of Glencoe and the Exchange Bank of St. Paul. No policy changes are expected as a result of the sale A t the bank’s most recent board meeting, Lowell Wakefield was elected chairman; David W. Gustaf son, executive vice president and a director, and Winton Jones, vice president and a director. Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Five Elected in Hopkins First Bank Hopkins has announc ed the following officer elections: Karen Guenther, retail banking; Dianne Hoover, rea l e s ta te ; R ic h a r d A. Huckle, Jr., com mercial banking; M ary K irsch , sales fin an ce, and P aul T esa rek , p e r K. GUENTHER sonal banking. D. HOOVER M. KIRSCH R.A. HUCKLE, JR. P. TESAREK Ms. Guenther joined the bank in 1976 in the safe deposit department. Ms. Hoover joined in 1978 and has been with First Bank System since 4) 1974. Mr. Huckle, who had been ser ving as personal banking officer, joined in 1980. With the bank since 1969, Ms. Kirsch has served as ad ministrative assistant and clerical O supervisor. Mr. Tesarek joined in 1981 and had been an instalment loan adjustor. RMA Forms Southeastern Minnesota Group Robert Reardon, pres., Bremer Finan cial Corp., draws a winning name in the grand prize drawing of the First Amer. Bank puzzle contest. The con test was part of the promotion an nouncing the corporate name change of Bremer Financial Corp. and its 29 First Amer. Banks. The contest was held at each bank during the week of Aug. 15-19, and attracted over 37,000 players. Winners in the grand prize drawing are: Wilbur Brandon of Glen wood, Hawaiian cruise for two; LeRoy Fisk of Frederic, 1983 Ford Tempo, and A.I. Besserud of Minot, 25” color television. # ^ A Southeastern Minnesota Group of The Robert Morris Associates has been formed to serve Rochester and environs. It will operate under the • Minnesota Chapter. Officers for the new group are: Chairman Charles E. Glarner, senior vice president, Norwest BankRochester; Vice Chairman August ^ A. Williams, vice president, First National Bank, and SecretaryTreasurer W.J. Nigbur vice presi dent, Marquette Bank & Trust Co., all of Rochester. • 43 We’ve Changed Our Name. BREMER Bremer Financial Corporation Our previous name —the Otto Bremer C om pany—suited us perfectly for more than 40 years. But today it no longer accurately reflects what we do. That’s why we changed our name. Now we are BREMER FINANCIAL CORPORATION, a name which better describes our activities in banking and agricultural credit. BREMER Even our new name doesn’t tell you that w e’re one of the largest bankholding companies in the Upper Midwest, or that 29 First American Banks in Minnesota, North Dakota and Wisconsin belong to our system, or that our assets exceed $1.3 billion. But well tell you more about that another time. Bremer Financial Corporation Suite 700 55 East Fifth Street St. Paul, MN 55101 (612) 227-7621 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 46 Minnesota News Highlights of 1983 Midwest Banking Institute AT the 1983 Midwest Banking Institute, students worked in groups on the Bank Management Simulation Game (left); take a break between classes (center), and check their progress charts in the Bank Management Simulation Game (right). ACH YEAR, nearly 200 bank ers from Minnesota, Montana, North Dakota, South Dakota and Wisconsin exchange their business suits for more casual attire, their briefcases for books, and head back to the classroom for one week. The quiet, relaxed campus of the University of Minnesota, Morris, sets the stage for the annual Midwest Banking Institute. The Institute is a program for m anagem ent level agricultural bankers sponsored by the Banker’s Associations of Minnesota, Mon tana, North Dakota, South Dakota and Wisconsin. This year’s program ran from July 24-29, and includes 99 first-year students and 88 secondyear students. This year’s Institute offered some 20 course offerings during the fiveday program for first and secondyear students. The offerings ranged from hands-on learning experiences to in-depth study of agricultural policy and technology. The first day opened with com ments by Mark Olson, president, Security State Bank, Fergus Falls, and chairman of the A B A Govern ment Relations Council. He ad dressed students on “ Banking Leg islative Issues,’ ’ and pointed to several different areas of concern to the agricultural bankers. In keeping with the experts, Dr. Otto C. Doering, III, from the D e p a rtm e n t o f A g r ic u ltu r a l Economics at Purdue University, spoke on Agricultural Policy and Issues.” A second general session on Monday provided students a chance to hear Michael Boehlje, Iowa State University Economics Professor. He gave students the opportunity to discover the “ new rules of the game” in which agricultural bankers participate. E Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Monday afternoon, the sessions broke into first and second year cur riculum a ctivities. F irst year students met with Mr. Boehlje and second year students, under the guidance of John E. Moye, an at torney with the Head, Moye, Giles and O’Keefe law firm in Denver, Colo., were advised on “ Loan Documentation and Analysis of Ar ticle Nine of the Uniform Commer cial Code.” First year curriculum included a second afternoon discussion on “ Risk Rating Systems.” James E. Hausauer, vice president, First American Bank and Trust Com pany, Marshall, addressed the students on how management of the agricultural loan portfolio can be im proved by using systems of checks and balances. First year students completed the day with the “ Analyzing and Finan cing Crop Enterprises” session in structed by Curtis Nelson, presi dent, Blue Earth State Bank, and Paul Hasbargen, professor and ex tension economist in farm manage ment at the University of Min nesota. Second year students had a new twist put into their curriculum when they were introduced to the Bank M anagem ent Sim ulation Game. Students are divided into 18 teams who must make management decisions within the hypothetical bank and its market. The bankers must set objectives and formulate strategies for their bank to be able to function competitively against two other banks. Each bank’s pro gress is charted and posted so that each student can see how their bank is functioning against its com petitors in the areas of total assets, demand deposits, time deposits, loans, net income and cash position. During the course of the week, students ran the simulation for a hypothetical two-year period. In structors for the simulation game were Dale H. Mehrkens, vice presi dent, Goodhue County National Bank, Red Wing; Robert Craven, assistant extension economist in farm management, University of Minnesota, and Roger Bense, presi dent, State Bank of Long Lake. Second year students attended sessions on “ Estate Planning and Farm Business Arrangements,” in structed by Michael Boehlje, and Gerald Campbell’s, extension and agricultural economist, University of Wisconsin, session on Future’s T rading and Crop M arketing Management.” Groups of first year students focused their attention on credit analysis case studies for several days while second year students at tended an all-day session on “ Building Economic Activities in the Rural Community.” They also heard Leslie W. Peterson, president, Farmer’s State Bank in Trimont, speak on “ Sources of Funds.” Other talks included “ Marketing of Bank services” by Ann White, A n n W h ite A s s o c ia t e s , L in colnshire, 111.; “ Microcomputer Ap plications to Agricultural Banking” by D avid W aldren, Financial Design, Kearney, Neb.; “ Banking in a Deregulated Environment” by Ms. White, Mr. Peterson, and Charles Bruning, president of Edgewood Bank in Countryside, 111., and “ Sur vival in the Workplace” by Gary Donovan, director of career planning and placement services at the University of Minnesota, Morris. Mr. Bruning gave the closing ad dress to all students on “ Meeting the Challenges of Banking... Today and Beyond.” 47 Dakota State College with majors in agri-business and animal science. Sioux Falls Election Told Convention Preview o The North and South Dakota Banking Associations have released a preview program for “ Banking’s 100 ... The Dakota Bankers Centen nial Convention,’ ’ to be held July 5-7, 1984, at The Broadmoor, Col orado Springs, Colo. Keynote speakers secured for the convention include Frank Cappiello, one of the nation’s leading financial analysts, and Malcolm Forbes, Jr., president and chief executive officer of Forbes, Inc. and senior editor of “ Forbes.” F eatured enterta in m en t for Saturday night, July 7, will be Roger Williams, nationally-known pianist. Named in Salem Gary Williams has been named assistant vice president of the Mc Cook County National Bank at Salem. Mr. Williams served ten years with the PCA office, six of them in Salem. He is a graduate of South North Dakota D. Petersen, pres., New Town H.J. Argue, exec, dir., Bismarck NDBA O fficer Nominees Are Selected A M E S o f persons recom mended by the nominating committee for election as officers of the North Dakota Bankers Associa tion for 1984-85 were revealed by the NDBA nominating committee Sep tember 21. Bob Westbee, chairman of First Bank, Bismarck, is slated to ad vance from the office of president elect to the presidency. He would succeed Darold Petersen, president of Lakeside State Bank in Newton, who is the 1983-84 president. The other new nominees selected are: F or P re sid en t-elect —Les Nesvig, president, The First State Bank of La Moure, and for Vice President-Treasurer—H arvey H. Huber, president, Union State Bank of Hazen. The election will take place during the 1984 100th anniversary conven tion next July at The Broadmoor in Colorado Springs, to be held in con N https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis junction with the South Dakota Bankers Association annual conven tion. The NDBA also announced last month the following list of officers for the four NDBA groups, who were to be elected officially at the group meetings slated September 26-29 in Devils Lake, Rugby, Dickinson and Ellendale: Northeast Group: President— Jack Hansen, vice president, Norwest Bank Hillsboro; Vice President—Peter W. Nielsen, executive vice president and trust of ficer, First National Bank in Grand Forks, and Secretary/ Treasur e r - T e r r y Zeltinger, president, Towner County State Bank, Cando. Northwest Group: P resident—Curtis Zimbelman, assistant vice president, First W e ste r n B an k , M in o t; V ice President—Jerry Melby, president, Rob Brink has been elected assis tant vice president-mortgage servic ing, at Western Bank, S io u x Falls. M r. B rin k joined the bank in 1981 and has been mortgage servicing officer for the past two years, working out of WesternDowntown, morR- BRINK tgage banking division. Acquisition Approved Randall Bancshares, Inc., Lake Andes, recently received approval from the Federal Reserve Bank of Minneapolis to acquire the Andes State Bank, Lake Andes. First National Bank, Bowbells, and Secretary/Treasurer—Gerald Long, president, State Bank of Bottineau. Southwest Group: P residen t—Joseph Zilkow ski, president, First National Bank, Belfield; Vice President—Ronald Keeley, vice president, United Bank o f B ism a rck , and S ecreta ry / Treasurer—(to be announced). Southeast Group: President—P.B. (Blaise) Johnson, vice president, N orwest Bank J a m estow n ; V ice P r e s i d e n t Richard Solberg, president, State Bank of Fargo, and Secretary/ Treasurer—Lowell Anderson, vice president, First National Bank, Fessenden. Jamestown Addition Told Ronald A. Arndt, president of Norwest Bank Jamestown, has an nounced the ad dition of Paul H. Olson as assis tant vice presi d e n t, a g r i business depart ment. Prior to join in g N o rw e s t Bank J a m es town, Mr. OlsonP.H. OLSON was with Nor west Bank Moorhead, where he has served as ag loan officer since 1982. Northwestern Banker, October, 1983 48 New Division Opens Officer Appointed ( Colorado MM. Dean, pres., Greeley D.A. Childears, exec, mgr., Denver Denver Executive Named Ron B. Robinson has been named a senior vice president of United Bank of Denver, responsible for the overall stra te g ic m anage ment of the 11 United Banks in the Denver Met ropolitan area. In addition, he will retain his current position as president and R B- ROBINSON chief executive officer at United Bank of Lakewood, which he has held since 1977. Mr. Robinson joined United Bank of Denver in 1963. In late 1975 he moved to United Banks Service Company where he remained until early 1977. Two Directors Elected Colorado National Bank -Southwest Littleton, recently elected Newell M. Grant and Fitzroy Newsum to the bank’s board. Mr. Grant is managing partner of Grant Management Company, a firm engaged in real estate holdings. Mr. Newsum is manager - civic liaison for Martin Marietta Denver Aerospace. assistant vice president and loan service manager. Promoted in Denver At Denver National Bank, Gloria S. Schofield has been promoted to vice president and trust officer. Ms. Schofield joined the bank in 1980 as an employee bene fits trust officer and p resen tly oversees the ad ministration of employee bene fits plans. She GS- SCHOFIELD previously was with Lincoln Trust Company in charge of retirement trusts. Also at the bank, Louis E. Thompson, president and general manager of Lou Thompson Cadillac, Inc., was elected to the board. Intrawest Bank of Denver Sponsors Paint-A-Thon United Banks of Colorado, Inc., Denver, has announced the appoint ment of Harry Pforzheimer, III, to manager of media relations. Prior to joining United Banks, Mr. Pforzheimer worked in the Denver office of Hill and Knowlton and spent a number of years with corporate and public affairs for Paraho Development Corporation. Beverly A. Haney has joined Col orado National Mortgage Company, Denver, as assistant vice president and loan service manager. She previously was associated with Col orado Federal Savings and Loan as Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Promoted in Denver New President Elected Industrial Banks Sold EMPLOYEES of IntraWest Bank of Denver, including President John M. Eggemeyer (at left of ladder) applied 15 gallons of paint to the home of senior citizen Jeannette Johnson, one of 100 senior citizens whose homes were painted in the fourth annual In traWest Paint-A-Thon. Over 1200 volunteers from organizations throughout the city par ticipated in the August event. # Doug Kelsall has been promoted to vice president, energy division, and Erik S. Taylor, vice president, has been named manager of the financial services group at Colorado National Bank of Denver. Mr. Kelsall joined the bank in 1978 and was promoted to assistant vice president in 1981. Mr. Taylor joined the bank in 1957 and during his tenure has held key management positions in the trust department. C olora d o N a tion a l B ank Arapahoe’s board of directors has elected Robert L. Mitton, Jr., president. He replaces John Diedrich, who is retiring. Mr. Mitton joined the bank in May, 1983, as vice president, loan division manager. He previously was associated with IntraWest Bank of Aurora, where he was vice president-senior loan officer. Media Manager Named Recent Addition Told Denver National Bank has formed a residential real estate division, o ff e r in g VA, FHA and con ventional home mortgage loans, a n n ou n ced C. G ale S e lle n s , chairm an and chief executive officer. Also announc ed was the app o in tm e n t o f K H' KALEY Katherine H. Kaley as assistant vice president of that division. Ms. Kaley most recently was with Manufacturers Hanover Mortgage Corporation as residential under writer. She is originally from Lewisburg, Pennsylvania. Colorado National Bankshares, Inc. recently announced it is discon tinuing it’s industrial bank opera tions. The company owns three in dustrial banks, all located in the state of Colorado. Will F. Nicholson, Jr., president of Colorado National Bankshares, said, “ The rapid deregulation of the financial services £ 49 Until now,youcouldn’t do business banking likethis inColoradb. Advanced cash management. T h e First is first again. Because First o f Denver (also know n as IntraWest Bank o f Den^ ver) has m en ged w ith First Interstate Bank to form the new First Interstate Bank o f Denver. A n d because o f it, business banking in C olorado has changed forever. Because D enver has som ething it never had before. A bank w ith m ore than 120 years o f C olorado experb ence, along w ith the strength and multi-state banking capabilities o f the First Inter state Bank system. A n d that com bination can make a big differ ence in h ow you d o business from now on . Imagine the efficiency o f having cash m an agem ent for both your local and interstate operations handled through on e bank and on e system. First Inter state Banks cash manage m ent system is on e o f the m ost advanced you’ll find anywhere. It can guarantee faster collections, faster concentra tion and faster, m ore accurate balance reporting. Multi-state banking for multi-state business. Money for business growth. T h e new First Interstate Bank o f Denver can offer you access to the lending resources o f our entire $42 billion banking system—all through a single account officer. A n d that very same account officer has the kind o f first-hand know ledge o f local industry that can only com e from being a part o f the pioneer bank o f C olorado. Ö! W e can make doing business across state lines as easy as doing it across the street. W e’re on e o f the largest multi-state banking systems in the W est—including branches in every m ajor dom estic business center. A n d w e’re ready to put that vast system to work to make your interstate expansion and operations m ore efficient and profitable. A n d with our international banking net work, you can d o business m ore effectively— anywhere in the world. U ntil now, you couldn’t d o business banking like this in C olorado, because the new First Interstate Bank o f D enver didn’t exist. U ntil now. T h e First is first again. A n d w e’re proud o f it. ) First Bank Inters 633 S ev en teen th S treet, D enver, C o lo ra d o 80270* (303) 293-2211 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member FDIC Northwestern Banker, October, 1983 50 industry and most major categories of deposit accounts were the primary factors in reaching this decision. The advent of deregulation has opened up greater opportunities to gather funds from other sources.” Two of the industrial banks are under contract to be sold. Mellon Financial Services’ Commercial and Consumer Finance Group, head quartered in Oak Brook, Illinois, will purchase Northglenn Industrial sold for cash at their book value to Bank. East Industrial Bank will be another susidiary of Colorado Na sold to Integrated Resources, Inc., a tional Bankshares. Aspen Industrial New York Stock Exchange company Bank has on hand cash funds well in based in New York City. Aspen In excess of the amount required to pay dustrial Bank ceased operations on all deposits in full, including in September 15 and is now under a terest. No depositor is at risk to a voluntary plan of liquidation. Mr. single penny.” The three industrial Nicholson stated, “ Aspen Industrial banks have total assets of approx Bank is entirely solvent, and its imately $12 million and a total book loans and other assets have been value of approximately $950,000. in a new publication from the American Bankers Association. A B A ’s Bank M a rk etin g Research: A Practical Guide pro vides a range of techniques, sample tools and professional advice to senior bank m anagem ent and research practitioners. R. Sizemore, pres., Chinook “ Increased competition among J.T . Cadby, exec, v.p., Helena financial in stitu tion s makes V marketing decisions more critical Holding Company, Bozeman, to ac than ever,” said Paul Diesel, vice Reiquam Elected quire The Bank of Baker. president, retail banking, Multibank To Additional Post Financial Corp., Quincy Mass. First Bank West Great Falls has “ With banks developing more and elected Robert L. Reiquam chair MBA Office Moves more market-oriented products, this man, chief ex To New Location new marketing research guide ecutive officer should p rove an invalu able The Montana Bankers Associa and m anaging resource,” he added. tion relocated its office October 3 to officer. He suc This resou rce can p rovid e Number One North Last Chance ceeds Robert M. answers, Mr. Diesel says, to Gulch in Helena. The new location is Pancich who has only a block south of the previous of marketing research challenges such resig n ed . Mr. fice space and is also on the east side as analyzing current customer base R eiq u am w ill of the walking mall of downtown in order to target new products, also continue in assessing the potential of new pro Helena. his p re s e n t duct and service offerings, and Conveniently located, the new site capacity as pres determining pricing and promotion more than doubles the working R.L. REIQUAM ident of First strategies. Bank Great Falls. A president at space available to M BA staff. Specifically, the A B A Bank M B A ’s telephone number and zip First Bank West Great Falls will be Marketing Research Guide contains code will remain the same as (406) named at a later date. two major sections—a management Mr. Reiquam began his banking 443-4121 and 59601. overview of the strategic issues career in 1965 and was elected presi governing research and a section dent of First Bank Miles City in New Bank in Town— detailing the technical procedures 1974, the position he held until his used. Topics included in the guide Montana Bank of Forsyth election in 1982 as president of First Montana Bank of Forsyth opened are data collection, research design, Bank Great Falls. its doors for business August 1. It is sampling techniques, data analysis, the 13th bank owned by the Mon interpretation and application, and Acquisitions Approved tana Bancsystem and will be the se advertising research. The Federal Reserve Bank of Min Sample questionnaires, guides for cond bank to serve the community neapolis has announced its approval focus group discussions, sample of Forsyth, population 2,500. of the following applications: President is Verland Thomas, a telephone surveys and recommend Flathead Lake Bancorporation, Billings banker for 24 years. John ed interview techniques are included Inc., Poison, to acquire First Hopp is vice president of commer in the Guide, along with a list of Citizens Bank of Poison; Central cial loans and Danny Larson is the marketing research supplier firms Montana Bancorporation, Roundup, and other relevant sources. cashier. to acquire First Security Bank of To order ABA's Bank Marketing Roundup and to acquire Central Research: A Practical Guide, re Montana Agency, Inc., a general in ABA Offers Guide On quest order number 249300 from surance agency operating in a com Order P rocessin g, A m erican Marketing Research munity with a population not ex Bankers Association, 1120 Connec ceeding 5,000; Burke Securities Banks of all sizes will find infor ticut Ave., NW, Washington, DC Company, Missoula, to acquire mation and guidance on how to con 20036. The cost is $40 for ABA Bank of Sheridan, and Baker duct and apply marketing research members, $60 for nonmembers. Montana Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 51 Wyoming D.H. Babbitt, pres., Worland M.C. Mundell, exec, dir., Laramie ■ r 11 .4 iftAh k t ! • ,< /f Wyoming National to Charge Off Loans FFILIATED Bank Corporation of the last day of the month w of Wyoming, a bank holding preceding closing. The transaction is company based in Casper and which subject to certain conditions, among owns eight banks, announced which are the purchaser’s comple recently that its principal bank, The tion of arrangements for appropriate Wyoming National Bank of Casper, debt and equity financing of the has taken action to charge off loans transaction, approval by Affiliated in an amount which will result in an shareholders, and approval by the estimated loss by Affiliated of ap Federal Reserve Board. Either party proximately $1.50 per share in the can terminate the agreement if the quarter ending September 30, 1983, merger is not completed by July 31, and a reduction of its estimated ear 1984. nings for the nine months ending The acquiring corporation, Finan September 30 to approximately 50 cial Resources of Wyoming, Inc., cents per share. will be headed by F. O ’Neil Griffin, Robert W. Miracle, president of who was formerly the chairman of Affiliated, said that the need to Mountain Banks, Ltd., a bank charge off loans arose primarily holding company based in Denver, from the special difficulties of the oil Colorado. Mr. Griffin has also serv and gas industry. ed as vice chairman of First City Mr. Miracle also announced the Bancorporation of Texas, which has approval by Affiliated’s board of an its headquarters in Houston. offer for the acquisition by merger of all of its outstanding capital stock for a cash price of $42.00 per share, Mid-Year Figures Released with an adjustment if the merger The abstract report of state and has not occurred by March 31, 1984, national banks in Wyoming for June equal to the per share earnings or 30, 1983, has been released by the losses of Affiliated accumulated Office of the State Examiner. after March 31, 1984, calculated as Following are totals for deposits, A || || I) # • assets and net loans. All figures are in thousands. Total deposits for the 61 state banks were $1,337,937; for the 50 national banks, deposits were $2,331,615; for the combined state and national banks, deposits were $3,669,552, compared with 1982’s total of $3,322,621. Total assets for state banks were $1,525,582; for national banks, $2,661,549; for the combined group, $4,187,131, compared with 1982’s total of $3,878,547. Net Loans for state banks were $815,973; for national banks, $1,382,724; for the combined group it was $2,198,697, compared with 1982’s total of $2,100,211. Elected in Casper W yom ing N ational Bank of Casper recently announced the elec tion of veteran banker Richard C. Maves to the position of assis tant vice presi dent of the real estate loan de partment. Mr. Maves will un derwrite loans and orig in a te long-term and construction loans. Mr. Maves, who most recently served as an assistant vice president at Utah Mortgage Loan Corporation in Casper, brings seven years of varied lending experience to his new position at W yom ing National Bank. American National Bank of Rock Springs Breaks Ground American National Bank of Rock Springs recently held a groundbreaking ceremony for its new 30,000, sq. ft., full service facility to be located at 2515 Foothill Blvd. Scheduled to open in May, 1984, the new building will feature four drive-up teller lanes, safe deposit boxes and the ATM Action Bank Center. Pictured at the groundbreaking (I to r) are: Leonard R. Scoleri, v.p. and cash.; Charles R. Jones, John S. Kauchich, Bruce K. Lockhart, Richard L. DeBernardi, Dick L. Blankenship, and Ronald E. Bailey, pres. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 52 It’s a shame to stop m ortgage business a t the front door. No one likes to say “I ca n ’t handle the business.” Especially when a good customer comes calling. But a lot of bankers simply don’t have the resources to take on the complicated task of w riting FHA or VA loans. Or putting 30-year mortgage paper on the books. Norwest Bank Omaha can help. We buy residential m ortgage loans. But more than that, w e’ll give you as much help as you need in processing your FHA/VA loans. Talk to Norwest. Then when you greet customers at the door, you can ask them to come on in. íf HO HOME fGAGE tOAHS HABLE HERE To learn more, call Bob Culver, our home mortgage specialist, 402/536-2079. Norwest Bank Omaha (formerly U.S. National Bank) Member FDIC Affiliate of Norwest Corporation M A H H ilf NORWEST BANKS mmmmm I I T I I Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * • 53 5. Perfection of the Security In terest. 6. Priorities and Purchase Money Security Interest. 7. Enforcement of the Security In terest-Rem edies of the Secured Party. NBA Ag Conference Is a Winner By BEN HALLER, JR. Publisher O sborne’ s humor and football statistics on his team were well balanced with thoughtful comments reflecting his concern for all univer sity students on every campus over the problems of drugs and alcohol that are being thrust on them. The first speaker was Philip E. Schmidt, vice president, Federal Reserve Bank of Kansas City. A review of his talk, “ A g Lending - A R e g u la to r ’ s V ie w p o in t,” was reviewed in depth in the September 19 issue of the N o r t h w e s t e r n B a n k e r Weekly Newsletter. That talk set the stage well for follow in g presen ta tion s. G ary Thrasher, senior vice president of The Omaha National Bank, discuss ed “ The Importance of Loan Documentation, ’ ’ using an excellent ly prepared 11-page summary that was part of a thick book of materials presented to each banker upon ar rival at the conference. Mr. Thrasher, who is in charge of loan workout teams at his bank, covered “ The General Theory of Secured Lending’ ’ made up of seven sections: F THERE were any lingering doubts about the deep concern of bankers for their ag customers and their banks, it was dispelled quickly at the 1983 A g Credit Conference conducted by the Nebraska Bankers Association at the Lincoln Hilton Hotel in Lincoln last month. For those who did attend it was a value-packed, working conference that went to the heart of many ag banker concerns today—classified loans, loan documentation, com pliance, impact of PIK on lending, farm bankruptcies and new ventures in ag lending. The conference truly carried out its theme, “ Changing P e r s p e c t iv e ,” thanks to the dedicated work of the N BA A g Com mittee, chaired by John Martin, vice president of The Omaha National Bank, and the NBA staff. At the opening noon luncheon on Thursday, Chairman Martin in troduced Nebraska Head Football Coach Tom Osborne, whose #1 rated Cornhuskers were fresh from an 1. Secured L en d in g —General opening game trouncing of Penn Theory and Purpose—the Lien Con State and were to face the Universi cept. ty of Wyoming two days later at 2. Scope of Article 9 of the UCC. Memorial Stadium a few blocks 3. Security Interest Under the away (which the Huskers won by UCC. another lop-sided score). Coach 4. Types of Collateral. I Mr. Thrasher told his audience, “ We need to do a better job of train ing staff in secured lending. The rules constrantly change. We spend lots of money on bonds and in surance. In our bank we have an allocation for training. You should have som eone responsible for reviewing every document to see if it’s correct. We review all loans and documents with teams once a year. This does two things: 1. It helps senior management evaluate new people and it helps the new ones. 2. It provides an additional check on our loans and documentation.’ ’ B ill B ra n d t, N B A gen eral counsel, also had his talk on “ Com pliance Issues’ ’ well outlined in the presentation folder. He spent con siderable time reviewing the central filing issue, which will continue to be an important item in the state legislature. The last item on the Thursday aternoon program was “ Impact of PIK on A g Lending,’ ’ reviewed by R oy F r e d e r ic k , e x t e n s io n econom ist/public policy at the University of Nebraska-Lincoln. He reviewed past farm programs and the effect on farming, as well as na tional budgets, and pointed out that PIK likewise has brought some ine quities. “ It has aided the highly leveraged farmer,’ ’ he observed, “ and not the small, family farm owner with little debt. It also has aided the farmer in areas where there were high production cost. Too often, big people got big loans and low interest rates when they didn’t LEFT— Six of the eight members of the NBA Committee on Agriculture are pictured (from left): Duane Philippi, v.p., Lexington State; Dean Henn, v.p., Bank of Elgin; Rusty Eisenhart, v.p., Culbertson Bank; Tom Henning, pres., Overland Natl., Grand Island; Dennis Devine, pres., Fillmore County Bank, Geneva, and John Martin (comm, chmn.) v.p., Omaha Natl. RIGHT— Tim Haight and Jerry Strasheim, Omaha at torneys and panelists, with Bill Brandt, NBA genl. counsel. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 54 Nebraska News LEFT—Dr. Roger Mandigo (second from left) was presented a plaque for his accomplishments in the area of “ restructured meat process ing.” Dr. Mandigo is an ag college staff member at the University of Nebraska. Presenting the award were NBA Pres. Don Johnson (left), pres., Farmers Natl., Pilger, and Mr. Martin. At far right is Dr. Roy Arnold, vice chancellor of the U of N, who presented Dr. Mandigo’s im pressive credentials to those at the noon luncheon. RIGHT—A special guest at the NBA Ag Conference was Nebraska Congresswoman Virginia Smith (3rd District), pictured here with her husband, Haven Smith (left); A.C. Skip Hove, chmn., Minden Exchange B&T, Minden, who is NBA pres.-elect, and Gene Schwarz, a.c., 1st Natl., Elm Creek. need them, and they invested in high session. The insights o f Mr. Strasheim and Mr. Haight into so return equities.” Among options for the future he many aspects of bankruptcy law listed: 1. If we have a return to nor was worth the conference registamal production and acreage, we will tion fee alone. The final portion of the morning probably be looking at a way again to restructure production. 2. Get program was devoted to the state’s ting some acres out of production role in ag finance and how those state corporations fit into a bank’s that shouldn’t be used. He added ag credit strategy. Speakers includ that Iowa State Unversity reports that PIK will put $900 million into ed Don Dworak, director of the the hands of Iowa farmers; it will Department of Economic Develop cause a $300 million loss to service ment, speaking on the Nebraska In people, so the significant gain to v e s tm e n t F in a n ce A u t h o r it y (NIFA); Morris Reynolds, deputy Iowa will be $600 million.” He sees low participation in any director of the A g Development Cor PIK program next year, if there is poration, and Gordon Kissel, ex one. He pointed out that the federal ecutive director of the Nebraska government’s support of the 15% of Conservation Corporation (taxour people in the poverty class is exempt bonds for conservation less than that earmaked for farm work). A t the closing noon luncheon on support, which represents 2% of the people. “ On cost alone, I feel any Friday, the NBA awarded a special farm program will have a tough plaque to Dr. Roger Mandigo, pro fessor of animal science at the time,” he concluded. University of Nebraska-Lincoln. He One of the real plus values for each registrant was receiving a was cited for his leadership in the 106-page gold mine of information area of “ restructure engineering’ that brought pork to the fast-food on “ Dealing with Bankruptcy,” prepared by two noted attorneys skilled in the intricacies of bankrupt cy law—Jerrold L. Strasheim and Timothy V. Haight of the Baird, H o lm , M c E a c h e n , P e d e rse n , Hamann & Strasheim law firm in Omaha. The two men conducted a two and one-half hour program without a break. Testimony to the importance and timeliness of the subject was a full house in the con ference room, and the fact that no one left until they concluded at 11:00 a.m. Considerable audience Tom Osborne, Nebraska head football participation in the form of ques coach, chats with Conference Chmn. John tions and individual bank ex Martin after addressing the Thursday noon periences added to the value of this luncheon. Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis marketplace, such as the McRib Sandwich. Dr. M a n d ig o’ s im pressive record as a teacher and research scientist was presented by Dr. Roy G. Arnold, vice chancellor for agriculture and natural resources at the U of N. Closing speaker at the luncheon was Jim Roberts, owner of J.F. Roberts Company, Lincoln, who gave a summary of some of the discussions presented to date to the “ 2001 Comittee” set up by the Governor to help chart Nebraska’s future course. A highlight of the conference on Thursday was the western barbecue dinner served at The Lincoln Hilton, followed by the excellent entertain ment of noted singer Anne Murray at the Bob Devaney Sports Com plex. □ Blair President Named Howard C. Hanson, Jr., chairman of the Blair Bank, has announced the election of John E. Queen as president. Mr. Queen has been with the bank since February of this year. Prior to his affiliation in Blair, Mr. Queen served as vice president and senior loan officer of the First National Bank in Council Bluffs. Previous banking experience in cludes seven years with the Omaha National Bank in the commercial lending division. Mr. Queen also serves as a director of Blair Bank. Also at the bank, Harold Matney, executive vice president, has an nounced his resignation effective November 11. He plans to pursue personal business interests as well as having continuing respon sibilities with Blair Banco, Inc., the bank holding company. We’ve got the management tools for the right answers... and better profits. One more reason to call on the Correspondent Bankers from NBC. NBC has produced a specialized set of software management tools for use with today’s microcomputers. These packages are designed to serve our client banks and their customers in key areas of risk management. Programs include our Asset Liability Management Program and an Interest Margin Program. We’ve developed over a dozen separate packages dealing with subjects ranging from a Commercial Business Forecast Model to an Agricultural Cash Flow Program. NBC offers all the traditional correspondent services, of course, but today the banks we serve need more and so do their customers. Call us at (4 0 2 ) 4 7 2 -4 3 2 1 . Learn more about NBC’s approach to correspondent banking. Specialized microcomputer software for today’s competitive financial environment is one more reason our bank clients say “ NBC works for me.” NBC P * m e The Correspondent Banking Division of National Bank of Commerce NBC Center, 13th & O St.. Lincoln. Nebraska 68508. Telephone (402) 472-4321 / Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis John M. Shonsey, chairman of the American National Corporation, has announced the election of Dennis J. Hanneman to the position of vice president - com m ercial loans, and Claude W. Sears as assis ta n t ca s h ie rconsumer loans for the American National Bank. A th irte e n year veteran of the banking in P.J. HANNEMAN dustry, Mr. Han neman came to American National Bank from Billings, Montana, where he was a bank commercial loan of ficer for three years. Prior to that, he was associated with the Bank of America in Los Angeles and involv ed in commercial loans. An Omaha native, Mr. Sears has been active in the consumer loan field since 1979. He is a graduate of the University of Nebraska at Omaha. * * * First National Bank of Omaha recently announced the appoint ment of Charles R. Walker as second vice president, retail banking divi sion, and the addition of Steven K. Norris as a marketing represen tative of Banclease, Inc., an affiliate of First National. sw mm» m ssm mmmmmm / C.R. WALKER S.K. NORRIS Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mr. Walker is a graduate of Creighton University’s School of Law. Formerly with the Bank of Bellevue, he has been in banking for seven years. Mr. Norris has a BS degree in bu sin ess a d m in istra tion from Wesleyan University. Prior to join ing Banclease, Inc., Mr. Norris was employed as a loan officer with the Federal Land Bank in Columbus. * * * Lawrence Comine, Jr., vice presi dent of O m aha N a tio n a l Bank’s commer cia l le n d in g department, has b een e le c te d chairman of the Midlands Group of Robert Morris Associates. Duane F. Schainost, vice president of the First N ational L- COMINE, JR. Bank of Lincoln, was elected vice chairman. James A. Kruger, ex ecutive vice president of Gateway Bank & Trust of Lincoln, was named secretary-treasurer. Elected directors of the Midlands Group were: Patrick J. Brady, senior vice president of Norwest-South, Omaha; William F. Kabourek, presi dent of State Bank & Trust, Council Bluffs; David C. Koenigsman, senior vice president of Norwest-West, Omaha; Brad Korell, vice president of National Bank of Commerce, Lin coln; Gordon V. Kuhn, president of Havelock Bank & Trust, Lincoln; Steve Ritzman, assistant vice presi dent of First National Bank, Omaha, and Roger V. Voorhees, vice president of North Side Bank, Omaha. Kenneth M. Parrish has been ap pointed manager of Golden Eagle S e r v ic e s at Omaha National Bank. Golden Eagle Services is the brand name for the array of data processing pro d u c ts O m aha National’s infor mation systems K.M. PARRISH and payment ser vices department provides to finan cial institutions and other cus tomers. Mr. Parrish joined Omaha Na tional in 1972. He served as a pro grammer and date processing pro ject manager before being named a systems officer and manager of systems and programming in 1982. Aurora First National Celebrates 100th Year Around 2,000 area residents par ticipated in the First National Bank of A urora’ s 100th anniversary celebration held in July. A free barbecue was served at the drive-in facility from 5:00-7:00 and the bank held an open house throughout the day. A ribbon cutting ceremony mark ing the start of the second 100 years of service was held in the bank lob by. Kearney O fficer Elected Illene Drake has joined the Kearney State Bank and Trust Com pany as a loan officer. The past five years, M s. Drake has been e m p lo y e d at P la tte V a lle y Bank, Brighton, Colorado, as a real estate and commercial loan officer. Her pre vious banking experience also included associations with the Federal Land Bank in the Kearney and Broken Bow areas for 12 years. Joins Mitchell Bank Collyn Florendo has joined The First National Bank in Mitchell as instalment loan officer. He previous ly has been with The Fort Lupton State Bank in Fort Lupton, Col orado. 57 Fred Kuehl Gerry Tomka Mark Sorensen THE ANSWER MEN • CORRESPONDENT banking can be confusing, frustrating, • time-consuming. Not so at First National Bank of Omaha. Just call to get the answers from one of our six experienced correspondent bankers. Six men with the very latest financial technology at their fingertips dispensing profession al, dependable, confidential service. So call us for the answers to your correspondent banking questions — on electronic data processing, cash letter processing, overlines, f fed-fund transactions and more. I llo l I In Nebraska, call i-800-642-9907. Outside Nebraska, call 1-800-228-9533. You'll get the answers from us, the answer men. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IvJI i\ j\ lU I U U l llx of omaha Member FDIC Northwestern Banker, October, 1983 58 ILLIAM C. Smith, president of First National Lincoln Corp., and Duane W. Acklie, a direc tor and the largest stockholder of FNLC, issued separate statements on August 31 indicating a resolution of differences over the proposed con solidation of FNLC, the holding company which controls First Na tional Bank & Trust Company of Lincoln, with Omaha National Cor poration. The preceding Friday, Mr. Acklie and his wife had published a tender offer to purchase up to 736,000 shares of the FNLC stock at $40 a share in opposition to the pro posed consolidation. Mr. Smith stated, “ We have ad vised officials of Omaha National Corporation, with whom we have been exploring consolidation, that all discussions will be terminated W im m e d ia te ly . W e h a ve a lso represented to Mr. Acklie that the management of FNLC will not engage in any similar discussions for at least the next year. Mr. Acklie determined to withdraw his tender offer and has stated he does not in tend to appreciably increase his stockholdings during the next year.” Mr. Smith noted that, “ Our discussions with Omaha National arose from our desire to create a Nebraska-based banking organiza tion large and strong enough to withstand any takeover attempt from outside the state. While management still views such a tran saction as a legitimate long-term goal, neither management nor Mr. Acklie wants to see the bank and our community disrupted by an internal struggle. The announcements being ^ made today certainly represent a m preferable alternative.” Mr. Acklie stated that the offer was withdrawn in accordance with the terms of the offer which permit q termination based upon threatened litigation and based upon changes which occur or are threatened which would have a material adverse effect upon the business or financial condi- ^ tion of the company or the sub sidiary bank. “ It has become in creasingly evident since last Friday that for us to pursue the offer would result in protracted litigation, uncer- q tainty among bank employees, and damage to the bank and the Lincoln community, and that even if we were to be successful in our offer, the bank which we would purchase 0 would not be the same bank we sought to purchase on August 26,” Mr. Acklie stated. * * * First National Lincoln President William C. Smith has announced several staff additions and promo tions. Sally A. Greenwait has joined First National Lincoln as managing officer, brokerage services. The new brokerage services department will be part of the customer services divi sion. Mrs. Greenwalt has many years of experience in the brokerage field and was formerly associated with First Mid America. New members of the trust divi sion are Jeff Edwards and Daniel A. Kinder, both trust investment of ficers. Mr. Rinder earned an M BA degree from the University of South Florida. He was also an associate of First Mid America before joining First National. Mr. Edwards holds an M B A from the University of Nebraska, Lincoln, and formerly was with Edward D. Jones & Co. Two promotions were also an nounced. Larry McPhillips has been named assistant vice president in the installment lending division. He was formerly direct loan officer, and is a graduate of Wayne State Col lege. Beth Morgan, formerly credit of ficer, has been named manager of the central credit department. Mrs. Morgan is a graduate of the Univer sity of Nebraska, Omaha. * * * ^ ^ £ 0 0 0 • • Roger M. Beverage, 38, former ex- ^ ecutive vice president o f the Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 59 The Experienced Professionals of First National Lincoln. Ready to meet your investment needs. Put your trust in the Municipal and Government Bond specialists of The First Team. Fast. Knowledgeable. Experienced. First National Lincoln — Nebraska’s most active dealer bank. The F irs t Team. FIRST NATIONAL LINCOLN 13th & M Streets • P.O. Box 81008 Lincoln, NE 68501 • Phone (800) 742-7376 4) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member, F.D.I.C. Northwestern Banker, October, 1983 60 Nebraska News Nebraska Bank ers Association, has joined the Lincoln law firm of K n u d se n , B erkheimer, R ich a rd son & Endacott as an associate. Mr. B ev erag e w ill concentrate his practice in the areas of banking law and litigation. Mr. Beverage is well known among Nebraska bankers since he served them for three years in the senior NBA staff position, starting in July, 1979. He resigned that posi tion a year ago following the NBA convention in order to purchase and manage the insurance agency of his late father-in-law, who had just died, and to open his law practice in Ber trand, Nebr. Before joining the NBA, Mr. Beverage had been a partner in the law firm of Baylor, Evnen, Baylor, Curtiss and Grimit. A native of Plattsmouth, he earned his bachelor degree from the University of N eb ra sk a in 1967 and w as graduated from the U of N Law Col lege in 1970. He is a past chairman of the Young Lawyers Section of the Nebraska Bar Association. He and his wife, Paula, have four children. Northeast Group of NABW Elects New Officers The Northeast Nebraska Group of The National Association of Bank W om en held their Septem ber NBC Opens Havelock Area Facility nbc \ l' 1 NATIONAL Bank of Commerce, Lincoln, was sheduled to open a new full-service facility in the Havelock area of Lincoln at Touzalin and Colfax, the first part of October, according to Tom Potter, pres. The new facility, which will also offer loan services, is in compliance with a change in Nebraska banking legislation, which permits Nebraska banks to add a third facility in 1983 plus one additional facility in 1984 and 1985 for a total of five. The Havelock facility will have a staff of five and includes drive-up teller services. meeting at the Norfolk Country Club September 8. New officers in stalled for the ensuing year are: Chairman Deloreis Blunck, assis tant vice president, American Na tional Bank, Creighton; Secretary Barbara C. Hughes, trust officer, The National Bank of Neligh, and Treasurer Ruth Lehman, operations officer, Norwest Bank of Norfolk, N.A. Loss Prevention Workshops Scheduled for October A series of regional Loss Preven tion Workshops have been schedul ed for October by the Nebraska Bankers Association. Dates for the workshops are: October 24—Norfolk, Villa Inn; October 25—Lincoln, Villager; October 26—Kearney, Ramada Bankshares to Merge With Norwest ORWEST Corporation, Min neapolis, and Bankshares of Nebraska, Inc., Grand Island, an nounced last month the signing of a p r e lim in a r y a g re e m e n t fo r Bankshares to merge with Norwest. Bankshares owns First National N J.R. CAMPBELL S.N. WOLBACH DigitizedNorthwestern for FRASERBanker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bank of Grand Island, First Savings Company of Grand Island, First Savings Company of Kearney, and Bankshares of Nebraska Life In surance Company of Phoenix. At June 30,1983, Bankshares had assets to ta lin g $140 m illion; Norwest assets were $19 billion. The agreement is subject to ap proval by Bankshares stockholders and state and federal regulatory agencies. U pon approval, all Bankshares facilities would adopt the Norwest name. James R. Campbell of Omaha, Norwest’s regional president for Nebraska and western Iowa, said the purchase will be made through Inn, and October 27—Ogallala, Holiday Inn. The workshops, which will begin ^ with registration at 8:30 a.m. and adjourn at 3:30 p.m., won’t get you bogged down in legal requirements for bank security and they won’t be simply a rehash of security equip- £ ment. What they will be is a realistic approach to policies which can save the bank money without requiring any additional investment by the bank. 0 Dalton Celebrates 75 Years Dalton State Bank recently celebrated its 75th anniversary at O the Legion Park in Dalton. A buffet luncheon was served to nearly 500 people. an exchange of stock. Terms of the transaction were not disclosed. This transaction is permitted under a state law which allows bank holding companies to own as many an nine banks in the state. That law became effective August 26, 1983. Norwest presently owns 86 commer cial banks, including three in Omaha and one each in Hastings and Norfolk. S.N. (Bud) Wolback, chairman of First National of Grand Island, said the decision to merge with Norwest was based on a careful assessment of several merger opportunities that a ro se fo llo w in g p a s s a g e o f Nebraska’s new Multi-Bank legisla tion. R.E. Spelts, Jr. serves as presi dent and chief executive officer of First National. ^ ® • ^ ^ look hto easing Maybe you've looked at getting into equipment leasing before but found it too expensive, too technical, and just plain too confusing. Well, look again! BANCLEASE can make your bank more profitable and at the same time provide you with a valuable new financial service to market to your commercial and agricultural customers. And, the best part is it won't cost you a penny! When you participate in the BANCLEASE program, you join many midwestern banks already using BANCLEASE as their own local leasing entity. An affiliate of the First National Bank of Omaha, BANCLEASE has an experienced leasing staff which assists you in structuring and pricing your leases, as well as providing the documentation, accounting, and operational support to maintain your lease portfolio. And, when we participate in the funding of the lease, there are typically no fees or service charges to your bank. DON'T DELAY! Give one of our leasing experts a call today. Our toll free number in Nebraska is 800-642-9907. Outside Nebraska, call us toll free at 800-228-9533. The sooner you act, the sooner you — and your customers — can profit from a leasing program in your bank. ba c ease, inc. firs\ national bank of omaha https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis In Nebraska call us toll free at 800-642-9907. Outside Nebraska call us toll free at 800-228-9533. Member FDIC. 62 Nebraska News AG PANELISTS and banker guests were welcomed to First National Lincoln’s Correspondent Bank Conference by Gary Bieck (at microphone), v.p. and head of the host bank’s correspondent bank division. Panelists, from left, are: Dale C. Tinstman, Carson Rogers, Robert Cartmill and Jack Maddux. RIGHT—Robert Hamilton (left), v.p. in charge of the Omaha branch, Fed of Kansas City, poses with % First Natl, hosts Bill Smith, pres.: Orrin Wilson, exec, v.p., and W.C. Bud Johnson, genl. counsel and dir. A t First National Lincoln Conference: Ag Panelists Are O ptim istic ANKERS attending the First National Bank of Lincoln’s 23rd Correspondent Bank Conference received a double helping of op timism. Members of the four-man Livestock, Grain and Feed Outlook Panel said they sense a positive turn around in agriculture; then, a few hours later, the University of Nebraska football team showed why it is still rated 0 1 nationally by han dily defeating the University of Wyoming by a wide margin. More than 700 persons attended the Conference. Advance registra tions alone showed 380 bankers from 193 banks, accompanied by 298 spouses, and other registrants showed up at conference time. Gary Bieck, vice president in charge of the First National’s cor respondent bank division, and his staff of correspondent bankers hosted a cocktail-buffet reception Friday evening at the Lincoln Hilton Hotel. The entire officer staff of First National was on hand to greet the guests, headed by Presi dent William C. Smith and E x ecutive Vice President Orrin Wilson. After a 7:30 a.m. breakfast on Saturday, the ag panelists were in troduced by Dr. Roy Arnold, vice chancellor of the Institute of A g and Natural Resources at the University of Nebraska-Lincoln. All four par ticipants were on the 1982 panel as well. They were: Robert Cartmill, president, Lincoln Grain, Inc., Lin coln; Jack M addux, rancherlivestock producer, Wauneta; Carson Rogers, swine producer, Ord, and Dale C. Tinstman, consultant, Iowa Beef Processors, Dakota City. B Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mr. Cartmill set the stage for the two-hour discussion by reviewing a “ C orn B a la n c e T a b l e s ’ ’ he distributed to each banker in the au dience. It traced exact figures from 1971 through 1982, plus 1983 estimates, for total supply for crop year (including carry-over stocks), minus total usage (fed, exports, other), with a resulting carryout, for the year hence. The chart then sub tracted the Government Isolation ProProgram (net under loan, reseal, re serve, CCC), to show a final “ free carry over” figure as of Septmeber 30 for the year hence. Total corn supplies ranged from 6,313 million bushels in 1971 to 10,429 million bushels in 1982. The amount totally controlled by the government in 1982 was 3,548 million bushels due to 3,080 million bushels in government reserve. The estimate for 1983, in cluding the September 30, 1982 car ryout of 3,423 was 8,323 million bushels total supply for the crop year. However, Mr. Cartmill cau tioned that the new USD A corn crop estimate would be out the following Monday and when it was published it was ju s t a bove 4 b illion bushels—20% less than the estimate M r. C a rtm ill had fig u r e d earlier—and he had downgraded to that point already from the 8,319 million bushels of 1982. Later, Mr. Cartmill cautioned that long-term corn in storage of two years or more may not be up to grade and could suffer “ substantial penalties.” Jack Maddux stated, “ Be wary of an optimistic cattleman, but never theless I am, despite a lot of hogs coming to market and the dairy herd liquidation taking place. My reason? It is darkest before dawn and we are looking at a dark cattle and hog market. I see a more volatile market next year...I think we’re coming full circle from seven to eight years ago. It’s the slaughter rates that effect the change. To decrease numbers by 1% requires a two to three percent slaughter increase. W e’re going through a heavy slaughter system now. In the cattle business we get the message right now and adjust when we get market reports and prices. The ability to adjust quickly makes me optimistic.” Carson Rogers echoed those sentiments by saying, “ Sow slaughter has been up the past couple of months; also gilt slaughter is up. Weights dropped in two weeks from 242 to 229 pounds. W e’re heading to a turnaround in the red meat in dustry for the better. The first quarter of 1984 will see pork in the mid $40s; the second and third quarters in the low $50s—all if the current reduction through slaughter continues.” Dale Tinstman observed, “ I ’m op timistic about the meat industry spending a lot of money on plant and equipment. The cattle feeding future area is western Nebraska and Kan sas. We bought a couple of plants in Colorado recently. On pork, we’re excited and we have a new plant in western Iowa. We need to get pro ducers and feeders profitable, both in cattle and hogs.” Mr. Rogers also said, “ We see larger, fewer producers on family farms. We see producers getting together and listening to each other. Every operator must know his cost of production. It is easier to know the price you get, but knowing the • # • • ® ® ® ^ 9 ^ ^ Nebraska News ® ® v 0 II D cost is just as important." Mr. Maddux added later, "There is little doubt that feeder cattle prices this fall will be lower, due to the higher corn price. About 30% of the ranchers will keep their feeders until spring; that is, those financial ly able to do so. But, if wheat pastures don’t develop, we could see an increase in placements." The last question to the panel stated that Nebraska ranges from number two to seven nationally in key ag measurements, so "whats the future for Nebraska?" The answers were brief, but pertinent: Jack Maddux: “ Nebraska will become the top beef producer in the next 10 years." Robert Cartmill said, “ The merger of railroads puts Nebraska closer to markets than ever before." Carson Rogers noted, “ W e’re blessed with water, and our prime position on this point will keep Nebraska on to p ." Dale Tinstman concurred with that posi tion. Following the panel presentation, a pre-game warmup and luncheon was offered in the offices of the First National Bank, after which guests adjourned to the nearby Memorial Stadium for the Nebraska-Wyoming game. □ Application Filed For New Bank Charter A new charter application has been filed with the Comptroller of ^ the Currency by First Continental National Bank to be located at 138th and S Plaza in Omaha. Agent for the new charter is Cheron B. Beran. Other organizers ^ include: Harold Cooperman, E. Robert Newman, A. Dan Gordman, Phillip Dale Beggs, Robert Jensen, Philip Cohn and David Kats. # Henry Wagner Dies Henry Kermit Wagner, 67, died September 20 of an apparent heart attack. Mr. Wagner was director of the Schuyler Security Federal Sav9 ings and Loan and had interests and d ire cto rs h ip in 14 banks in Nebraska, Iowa and South Dakota. After graduation in 1937 from Kansas State, Mr. Wagner joined 9 his fathers’s firm, the Schuyler Mill ing Company, later changed to Wagner Mills Inc. He served as vice president and general manager until _ he assumed the presidency after his 9 father’s death in 1973. Under his https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 63 Independents to Meet in Grand Island HE SECOND Annual Conven tion of the Nebraska Indepen dent Bankers Association will be held November 3 & 4 at the Mid town Holiday Inn, Grand Island. T J.D. HERRINGTON P.J. AMEN Serving as president of the association this past year was Den nis Brewster, president of Butte State Bank. He was assisted by First Vice President E. Dean Kugler, who was president of Springfield State Bank; Second Vice President John M. Green, president, Wauneta Falls Bank, Wauneta; Secretary F. Phillips Giltner, presi dent, First National Bank, Omaha, and Treasurer Thomas Grove, senior vice president, Packers National Bank, Omaha. Election of new officers will be held during the convention. The pro gram schedule follows: A.M. Thursday, November 3 10:00 -5:00 p.m. Registration, main lobby P.M. 1:00 M icro-Com puter U pdate— Dave Waldron, president, F inancial D esign s, Inc., Kearney. 4:00 Y ou n g B ankers P a n el— “ Challenges for the Future G eneration." Panel m od erator - Robert C. Fricke, Farmers & Merchants Na tional Bank, Ashland. guidance, Wagner Mills engaged in trucking, liquid fertilizer and grain merchandising and storage with elevators in Rogers, Edholm, Col umbus and Bruno. Named in Coleridge Coleridge National Bank recently announced the promotion of Diane Frerichs to cashier and the naming of Stan Carlson as operations of ficer. Ms. Frerichs has been with the bank 14 years. Mr. Carlson 6:30 Reception, sponsored by First National Bank of Omaha. A.M. Friday, November 4 7:30 Registration. 9:00 General sessions. Welcome - Dennis Brewster, N IBA president. " R e g u la t io n s and C om pliances’ ’—Mary Curtin, Min neapolis Attorney. “ Maintaining High Balance Customers through Commis sion Selling’’—John Laslie, president, J&L Consultants. "S te e r in g Y our B an k Through the 80s—What it W ill T ake’ ’—Gary Scott, senior consultant, banking practice section, D eloitte Haskins & Sells. “ Travelers Cheque Presenta tion’ ’—Jean Vincel, Barclays Visa. P.M. 12:00 Luncheon with guest speaker Sidney Bailey, Financial In stitutions Commissioner from Commonwealth of Virginia and president of CSBS. 2:00 General sessions. "D ereg u la tion and Com p a rison s’ ’ —Duane A cklie, Lincoln attorney. James Herrington, president, Independent Bankers Asso ciation of America. Paul Amen, dirctor, Nebraska Department of Banking and Finance. “ Discount Brokerage -Legali ties from a Bankers View’’— speaker to be announced. 6:00 Cocktail reception sponsored by Packers National Bank, Omaha. 7:00 Banquet with entertainment by University of NebraskaLincoln Jazz E nsemble # 1. □ previously worked as an assistant national bank examiner and most recently with Security National Bank of Sioux City. Also at the bank, Paul Havekost, cashier, has retired after 36 years of service. Joins Bartley Bank Craig Brewster has joined the State Bank of Bartley as assistant vice president. He is a May graduate of the University of Nebraska at Omaha. Northwestern Banker, October, 1983 64 Securities... with service! You a n d your custom ers have a w ide ran ge of invest m ent opportunities a v a ila b le from Bankers Trust. You ca n buy or sell through us with con fid en ce that your transactions will b e h a n d led prom ptly a n d sm oothly W e’re a registered d ealer in a ll b an k eligib le securities including h igh -grad e m u n icip al b on d s a n d notes, U.S. Governm ent a n d Governm ent A gen cy securities, bankers a c c e p tances, repurchase a g re e ments, CD’s, a n d overnight a n d term Fed Funds. You ca n also count on us for w ell-ground ed investment counsel. W e’ll work closely with you a n d your custom er to determ ine the best direction for m eeting specific goa ls. A nd b ec a u se w e serve as trustee, transfer agen t, p a y in g agen t a n d registrar for m any bond-issuing entities, you ’ll find us a n excellent source for inform ation on p en d in g new issues. For a single investm ent vehicle or assistance in struc turing an entire portfolio, ca ll a Bankers Trust Invest m ent Banker toll-free in Iow a: 800-362-1688. Out of state, p lea se c a ll 516-245-2424. Bankers ComeCraw waftus Des Moines, Iowa 50304 Member FDIC, Federal Reserve System r ■ jf Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis / / 65 Delores and AI Maser President Joan and Bill Logan President-Elect AI Maser Assumes IBA Presidency || Convention report by BEN HALLER, JR. Publisher STEVE BURCH Associate Publisher ^ BECKY McBURNEY Associate Editor CLARION call for establishing a World Food Center in Iowa was issued by three prominent, in fluential businessmen who spoke during the A g Panel the first morn ing of the 97th annual convention of the Iowa Bankers Association in Des Moines last month. Speaking as part of the first morning’s program dedicated to “ Excellence in A g Banking,” the panelists gave a blueprint for positive action in the state that would serve notice to the rest of the nation and the entire world that the center of ag activity is indeed in Iowa. Their novel, well-received presen tation was part of five business ses sions for the convention that at tracted more than 2,250 persons. The convention concluded with the installation of officers during the in augural dinner and floor show the last evening. Taking over as 1983-84 president of the IBA was A1 Maser, president of First National Bank in Le Mars. He succeeds L.C. Bud Pike, presi dent of Farmers Savings Bank in Grundy Center, who was president the past year. Following Mr. Maser as president-elect is William Logan, president The State Central Bank in Keokuk. Richard Randall, president of Dunlap Savings Bank in Dunlap, was elected to a two-year term as treasurer, succeeding Russell W. A # • • ® ® ® 9 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Spearman, president of the Citizens Savings Bank in Sac City. During the meeting of Iowa members of ABA, Mr. Pike was elected to a two-year term on the A B A Council, commencing with the conclusion of the A B A convention in Honolulu this month. Iowa’s other A B A Council member is IBA Past President (1981-82) Tom C. Dunlap, chairman of South Story Bank & Trust, Slater, and of Andrew Sav ings Bank, Bellevue, who will be A B A vice president for Iowa in his second year on the Council. Evelyn and Bud Pike Immediate Past President Presidential Address In his acceptance speech, new IBA President A1 Maser referred to the challenges resulting from the in cursion into banking by outside financial forces and the impact of deregulation on every bank. He said “ the customer will determine what banks are going to be, and we’d bet ter pay attention...It is not only im portant to listen to our customers, but to listen to each other as well. With this in mind, I will recommend the establishment of a Task Force of Iowa bankers. (Its) mission is to find a politically viable consensus on the major issues of our industry... a con Richard Randall Treasurer sensus we can take to our political leadership in state and federal governments. A consensus which demonstrates that Iowa banks stand united about the concerns for our industry, profession and our customers. “ This Task Force must and will represent banks of every size, and be representative of the major bank holding companies and Iowa In dependent Bankers Association.” He concluded by calling on each Iowa banker, “ to be actively involv ed in the political and legislative process.” Ag Panel An excellent choice as moderator of the ag panel was Alan Tubbs, president of the First Central State Bank in DeWitt and one of the eight members of Secretary of Agriculture John Block’s banker advisory coun cil. “ Were going to talk about how we Iowans might be able to capitalize on many of those things which Iowa has going for it - which stem in large part from Iowa’s natural blessings,” Mr. Tubbs began. “ So much of our nation’s in dustry, manufacturing and wealth is dependent upon someone else to supply the raw material. Some raw wealth is exhaustible, notably fossil fuels and minerals; others are renewable, notably feed, foodstuffs and lumber. All other wealth is value added wealth and is created by a multiplier effect depending upon what happens to that raw product. “ N ew raw w e a lth o c c u r s miraculously in Iowa every year. It occurs because we have a natural resource of the world’s most produc tive soil and climate - over onefourth of our nation’s grade A soil is Northwestern Banker, October, 1983 66 Iowa News Some of the Business and General Session Speakers .. -..I'.;:>■■T* : JSI NEAL CONOVER BILL KENNEDY GOV. BRANSTAD ^/%M CHRISTY ARMSTRONG RUSS HOWARD in our state. Each year it produces $ 6-10 billion worth of new wealth to be shared and multiplied. And as long as we take care of that resource, this wealth will continue year after year. “ Indeed, Iowa has much more. We have universities who lead the world in research, crop production, bio technology and other areas. We have one of the most famous agricultural universities in the world only 30 miles away and we have peo ple, the salt of the earth people who know what it is to produce and who still live by a strong work ethic. And these people’s children go to these universities and too many bright minds leave the state because there are not enough exciting oppor tunities at home. Is there something we can do about this? Even if it takes some dreams, even if it can’t happen tomorrow, there are people on this panel who think there is something we can do - who have some ideas, some realistic dreams. “ These panelists and others in the Des Moines and Iowa business com munity have met and discussed some of these ideas over the past several years. The conclusion is we haven’t done enough to capitalize on our strengths. There is much more which might be done to attract world attention that we are the DigitizedNorthwestern for FRASER Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ALAN TUBBS ’0m ' HERMAN KILPPER bread basket of the world and in dustries, organizations and in dividuals who deal with agriculture should look to the heartland of Iowa. “ We already have the largest and most innovative meat packer in the world here. We have the largest seed company, we have a huge network of cooperative elevators, we have a transportation network including the Mississippi River. “ While we have so much - so much to work with, more might be done. Iowa needs promotion, it needs more markets - possibly sell ing more of this raw wealth with value added to it - with more manufacturing or processing com pleted, she needs more quantity and reliability of markets around the w orld, p o s s ib ly m ore m arket development by private initiative as opposed to strictly government deal ings. “ Agriculture has been Iowa’s basic support, the development of Iowa as an agri-business center w ou ld do m uch to su p p o r t agriculture,” he concluded, then in troduced the panel. He introduced the three panelists: G ary G erlach, presiden t and publisher The Des Moines Register, and executive vice president, Des Moines Register and Tribune Co.; John Chrystal, president, Iowa Sav BOB MILLEN ings Bank, Coon Rapids, and John Ruan, president, Ruan Transporta tion and Ruan Financial Corp., and chairman, Bankers Trust Company, Des Moines. Mr. Gerlach said, “ Four years ago Pope John Paul II came here to Iowa to see its land and its people. In his homily he reminded us of the incredible wealth that we stand on every day. The Pope told us, ‘You are stewards of some of the most im portant resources God has given the earth.’ ” Mr. Gerlach recited a number of the other values of Iowa—its high rate of literate people, top writers on agriculture, its high standing in ex ports in relation to its ranking in population, its high level of leading research. “ Iowa has been a thought leader in agriculture for years,” Mr. Gerlach reminded his audience. “ That has been true for this century. We have had four Secretaries of A g riculture from Iowa.” He pointed to other factors such as Iowa’s Winter Beef Expo in Des Moines, now an in ternational show attended by 25,000 persons at the State Fair Grounds last year; gasohol development, in cluding the new plant now under construction; the People’s Republic of China buying a packing plant here; Living History Farms. “ It’s time,” he said, “ that we Iowa News 67 At Bankers Trust reception, from left: Herman Kilpper, pres., Bankers Trust; Joan Houghton; John Ruan, chmn., Bankers Trust, and Bud Houghton, pres., 1st Natl., Iowa City. RIGHT—Don Jordahf, v.p., Bankers Trust; Jack Campbell, pres., Humboldt T&S, and Verdell, and Ben (pEilders, sr. v.p., Bankers Trust. Pictured at Norwest Bank in Des Moines’ breakfast were George Milligan, pres, of the host bank; Jerry Lapke, pres., State Bank of Port^ smouth, and Jo Ann; Lynn Horak, exec. v.p. of Norwest; Bob Buenneke, v.p., Norwest; Jack Rigler, pres., Central State, Muscatine, and June, and Voldy Vanags, sr. v.p. of the host bank. Greeting guests at Northern Trust of Chicago reception were Steve White, sr. v.p., and Kitten, and Sally and Curtis Skinner, sr. v.p. RIGHT—Jim Monhart, comm. bkg. rep., Northern Trust; Lee and Russ Howard, pres., Mahaska State, Oskaloosa, and Bob Grant, comm, bkg. rep., Northern Trust. Greeting guests at 1st Natl, of Omaha reception were Fred Kuehl, mktg. off., and Janet; Don Ostrand, v.p., corr. bk. div., and Ginny, and Bob Meisinger, 2nd v.p., BankCard div. RIGHT—Jim Flodine, 2nd v.p., 1st Natl., Omaha; Ron Schmeits, exec, v.p., Landmands Natl., 4|i Audubon; Mark Sorensen, ag rep., 1st of Omaha; Roger Underwood, pres., Guthrie County State Guthrie Center; Harris Kruse, a.v.p., Sibley State, and Corinne, and Chuck Fries, Jr., v.p.-div. head, corp. & fin. inst. div., 1st of Omaha. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 68 Iowa News LEFT Ag panelists: Moderator Alan Tubbs, pres., First Central State BAnk, DeWitt; John Chrystal, pres., Iowa Savings Bank, Coon Rapids; John Ruan, pres., Ruan Transportation and chmn., Bankers Trust Co., Des Moines, and Gary Gerlach, pres, and publisher, Des Moines Register. RIGHT—Three of the bank structure panelists: Muriel Siebert, chmn., Muriel Siebert & Co., New York; Paul Dunlap, pres., Hawkeye Bancorporation, Des Moines, and John Evans, pres., AID Insurance Services, Des Moines. declare Iowa as The World Food Capital. There is ignorance of this fact among most Americans because an old-fashioned picture persists. The modern, dynamic image is a long way from that of a muddy hog house and the back 40. We need coordination and communications. Coordination is needed to pull together our business people, government people and academi cians. There is great power in the downtown business community and throughout Iowa. There is great power in our state government. There is great power in Iowa State’s presence, in Drake University’s new study in A g Law and at the Univer sity of Iowa in A g Medicine.” Mr. G erla ch su g g e ste d an agricultural skyscraper in Des Moines, the state capital city, to be designated as the World Center of Agriculture. “ I ’ll toss this to John Ruan,” Mr. Gerlach said with a smile, in reference to Mr. Ruan’s leadership in constructing the new Ruan Tower and Bankers Trust building, and the new Marriott Hotel directly across the street, where the convention was held. Mr. Chrystal noted that in a re cent population report publicized in the papers, 97 of Iowa’s 99 counties have lost population. “ Every state has a Development Commission that is proud of its schools, its peo ple, its churches, its businesses,” he stated, “ but Iowa does have pre eminence in agriculture and we can establish a goal as designating ourselves as the center of world agriculture. But, we need to define that goal before we can seek it. We must appreciate fully what a capital in agriculture is. Accomplishing a Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis goal is difficult and takes a long time. There are several capitals in agriculture now—milling, for ex ample, in Minneapolis. Our success will require goals, money, coopera tion of the federal and state govern ments, the business community and so forth. The build-up of ITS is an example of what can be done for achieving a goal. With the coopera tion of various competitive entities and the government, we achieved this. The first fruits of what we envi sion are valuable to Des Moines and our larger cities, but Coon Rapids will ultimately benefit. Everyone cannot eat at the first table. “ What we are about will benefit all of us to differing degrees, but will keep our young people employed here. What are our goals? We need national agricultural offices of associations here. We need some federal government and USD A of fices here. We must make it attrac tive for headquarters of ag corporate offices to locate here. I think an in dustry like Agri-Industries has enor mous opportunity to assist in this. “ We must find ways to convert basic crops to value added products in our state and this will mean more employment. I firmly believe that western Europe cannot go on spen ding more for its food in the long run than it would spend if bought in the open market. And, I think we will get back those markets. We must develop new technology for this market, new research in growing, manufacturing, processing, packag ing and shipping. As producers we can truly become leaders in world agriculture by becom ing value oriented.” Mr. Ruan stressed “ the need for expanded export-import markets.1 Export activity meets the need to keep money in Iowa and keep people employed.” He related a few details of the formation last March of an export-import company with s ix 1 companies, and noted that at Bankers Trust they have formulated an in te rn a tio n a l d e p a rtm en t. “ W e’re committed at Ruan,” he stated, “ what about you? “ How can you do this? First, re view how well you know Iowa. Se cond become knowledgable about in ternational trade and finance. Third, when you work with your customer 1 companies, consider urging them to develop value added business in stead of shipping our raw materials out of state. You bankers are in the best position to further our cause. You have the money, you know your customers, and you finance the peo ple in agriculture. To be the World Center of Agriculture we must earn it; we can't get it be talking. We must work to outdo any neighboring states seeking the same goal.” Io w a ’ s F irst D is tr ic t C on gressman Jim Leach was unable to be present as a part of the panel, due to weather. However, IB A officials established telephone contact with him at a W ashington airport telephone and his remarks were then tra n s m itte d to the cro w d e d ballroom. After commenting in general term s a bou t current economic and ag conditions, both here and abroad, Mr. Leach address ed specifically the difficult problems faced in Iowa due to drought and a poor economy. “ Although many farmers are eligible for loans,” he noted, “ most can’t really qualify. This is a time for Iowa bankers to Iowa News 69 Steve Hatz (far left), v.p., and Gene Hagen, (far right), pres., Securi ty Natl. Bk., Sioux City, visit with Lewis Lowe, sr. v.p., Hawkeye Bancorp., and his wife Jean. Manning the Banks of la. Computer Services exhibit booth were: John Meehan, terr. mgr.; Mark Budensiek, mktg. dir.; Terri Ketter ing, mgmt. sys. anal., and Steve Boes, terr. mgr. Team Banks of Iowa gathers for the running of the 3 mile and 10 mile event which was co-sponsored by the Iowa Bankers Associa tion and Des Moines Register. Hosting the American Natl. Bk., Chicago, breakfast were: Mike Jump, v.p., and wife Lauren; Mike Harper, corr. bkg. off., and Mary Ann and Dennis Reher, 2nd v.p. Bob Buckley, sales rep., and Jerry Gross, pres., Kirk Gross Co. visit with Mark Arneson, clhmn., Clear Lake Bk. & Tr., and Don Curry, pres., Farmers Sav. Bk., Massena. HBE Bank Facilities representatives John Bodnar and Gerald Sano visit with Bob Erickson, cash., Farmers & Merchants Sav. Bk., Waukon. John Liljedahl, pres., First Natl. Bk., Essex, and Dan Boatman, pres., Iowa St. Bk., Hamburg, visit with Omaha Natl, executives Del Olson, v.p., Dan Boehle, v.p., and John Martin, v.p. Representatives for Marquette Lease Serv., Inc., Mpls. included: Mike Hay, tr. oper. superv.; Michele LeCuyer, tr. admin., and Mike Weinberger, lease, rep. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 70 Iowa News South Dakota Gov. William Janklow (second from left) was welcomed by Randy Steig, IBA exec, dir.; J.C. Milner, a South Dakota native and long-time friend of the Governor, and Neil Milner, IBA exec. v.p. At right, Frank Farrar of Britton, S.D., who has a number of banks in Iowa ® and surrounding states, and who is a former South Dakota Governor, chats with Gov. Janklow. make a serious effort to work with their federal government agencies to seek a way to help.” tional hook-up, which will link 4,700 terminals in 27 states, is scheduled to start soon. Also, he reported that ITS is discussing a plan with IBA Business Meetings IB A President Pike opened the Norwest Corporation for the sharing convention officially Sunday after of that holding companies terminals noon when the IB A conducted its in Wisconsin, Iowa, Minnesota, formal business for the association Nebraska, South Dakota, North and its subsidiaries—Iowa Bankers Dakota and Montana with Iowa In su ra n ce & S e rv ice s, Iow a bank customers through their ITS Transfer System, Iowa Bankers cards. Such a linkup, Mr. Millen Mortgage Corporation and Iowa noted, opens the possibility of great Automated Clearing House Associa expansion because Norwest also is a tion, as well as for the A B A meeting founding member of CIRRUS, a na tionwide network of major banks. of Iowa members. D on S n y d e r, p r e s id e n t o f Manufacturers Bank and Trust in Forest City, who was elected presi dent of IBMC in August, gave a brief status report on that sub sidiary. Richard G oos, president of Citizens State Bank, Oakland, presided at the IBIS meeting. An excellent in-depth report was given by A1 Tinder, IBIS president. He said IBIS is serving a record number of Iowa banks. He reported high participation in the health plan begun last January 1 for retired bank employees. IBIS, he stated, also has received an IRS private let ter confirming the tax preference treatment accorded the American Republic Insurance Co. program marketed by IBIS as ID EA Annui ty. He also said IBIS intends to of fer insurance brokerage service to banks to counter the abandonment of smaller agencies by some of the nation’s insurors who don’t want to deal with smaller agencies anymore. Bob Millen, president of United Central Bank of Des Moines, N.A., presided at the Iowa Transfer System meeting. He said the Na Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Dale Dooley, president of ITS, Inc., also gave an optimistic report. Hy-Vee Food Stores, he announced, plans to expand its POS pilot pro ject into routine use at each store in the midwest. He gave this report on ITS volumes: switched volume for the year ending August 31, 1983, was 6,800,000 transactions an 84% increase over the 3,700,000 of a year earlier, and that one year ago figure was 91% higher than the increase of the preceding year. Total transac tions this past year were about 23 m illio n , n e a rly d o u b le the 12,500,000 of a year ago. He forecast a 30% growth rate for 1983-84, but based on historical factors that could turn out to be a 65 to 70% growth, based exclusively on Iowa consumers. Two outlets in Missouri have been added—1st National Bank in Kirksville and Bank of Lan caster. There is an ITS outlet in Il linois through an East Dubuque bank, as well as three small banks in northeast Nebraska, and the billion dollar Omaha National Bank and its dozens of terminals in that market. John Sikkink, executive vice president, N orw est Bank Des Moines N.A., in his report for £ IACHA, said private payments th rou gh IA C H A now ex ceed government payments. IA CH A has grown 40% in volume in each of the past two years. ^ Other Ag Speakers Opening speaker for the E x cellence in A g Banking morning pro gram was Richard Kautz, chairman, q Grain Processing Crop./Kent Feeds, Inc., Muscatine. He said present fa rm p r o g r a m s d o n ’ t se rv e agriculture and new ones are needed. He said “ we must send signals o abroad that we’ve overcome the pro blems of overproduction.” Sen Fritz Hollings (D.,S.C.) an an nounced presidential candidate, criticized the present administration # for all of its policies—economic, ag Congressional and foreign. He said “ our government should guarantee our farmers the price of their pro duction.” D Capital Pursuit The “ Capital Pursuit” event, co sponsored by IB A with The Des Moines Register, got the convention off to an early start—at 7:30 a.m. Sunday morning. More than 900 persons took part in either the three or 10-mile runs. Dr. Art Mollen, M.D., a columnist in The Register, 4) was fogged in at another airport and was unable to lead the run as plann ed; however, he completed his daily 10-mile run shortly after arriving in Des Moines. He was the concluding speaker for the convention Tuesday afternoon. Structure Discussed Iowa News 70A Welcoming guests to the First National Bank of St. Paul dinner were: Sis and Mike Mishou, v.p.; Susan and Dick Flesvig, a.v.p., and Judy and Clay Johnson, v.p. Representing Financial Systems, Inc. of Kearney, Neb., were Ken Meredith, sales & support coord., Jon Cole, exec, v.p., and Dave Stochl, la. sales rep. Bill Graeves, v.p., Ken Danilson, v.p., and Cyrus Kirk, v.p. all with UCB Des Moines visit with Ann Doyle, v.p., and Dan Doyle, pres., Wellman Sav. Bk. Hosts for the First Bank Minneapolis luncheon Included: Tony Crea, a.v.p.; Mike LaVIgne, a.v.p. and his wife Kathy and Dave Williams, v.p. Neil Milner, exec, v.p., la. Bkrs. Assn, and wife J.C.; Evelyn and Bud Pike, I BA pres, and pres., Farmers Sav. Bk., Grundy Center; Jackaline and Paul Dunlap, pres., and Linda and Steve Jones, sr. v.p., Hawkeye Bancorp, enjoy the setting of the Des Moines Botanical Center during the Hawkeye reception. Mike Tramontina (far left) and Steve Miller (far right), deputy treasurers, State of Iowa, visit with Elyce and Dave Walthall, pres., Hawkeye-Capital Bk. & Tr., Des Moines. Gerald Swan, dir., First Natl. Bk., Creston. and John Juergens, pres., Farmers Sav. Bk., Colesburg enjoy a shine at the Hawkeye Bancorp, booth. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Art Joura, pres., (center) and Don Jones, v.p., (second from right) Data Business Equip., Des Moines, visit with Dave Hill, pres., Gary Hested, exec. v.p. and Lou Luiken, off. mgr., Farmers St. Bk., Jewell. Northwestern Banker, October, 1983 70B Iowa News LEFT—Convention Speakers Anat Yalif (left) v.p.-corp. planning, Marine Midland Bank, New York, and Dr. Art Mollen, M.D., with Peg Vial, office mgr. trng. dir., Brenton Natl., Des Moines, official hostess for Anat Yalif. RIGHT—Dr. Mollen with three IBA staff members (from ® left): Alda Post, Sharon Glass and Sherri Parke. Challenging & Changing Industry were two guest speakers and a panel of five persons. A B A President William Kennedy, chairman of the National Bank of Commerce in Pine Bluffs, Ark., reviewed various bills up for grabs in the Congress and announced that the A B A Leadership Conference recently voted to support the A d ministration Bill, which give banks the power “ to get the things we need.” He said a moratorium was voted down at the Conference. He stressed the importance of having a unified banking voice in coming ses sions to achieve the maximum benefit for all banks in the face of continuing unfettered competition. South Dakota Governor William Janklow proved himself just as direct as Iowa bankers anticipated he would be. Referring to Citicorp’s move of its credit card business to South Dakota, he said: “ they now have 1,000 to 1,200 employees and soon will have 1,500—doing what would have needed 2,000 to 2,400 in New York. The work ethic of the midwest has proved itself. With New York costs, due to the limita tion on what Citicorp could charge, they were losing $124,000 a day.’ ’ He indicated the credit card opera tion now is operating in highly pro fitable black ink, with a projection of “ $100 million in credit card opera tions this year.’ ’ Governor Janklow recounted, without reference to any notes, details of what all the non-bank financial business firms have been doing to take away the banking business. “ Y o u ’ d have to be stupid,’ ’ he said, “ not to recognize that this is what your competition Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis is—not the First Bank Systems, not the Hawkeye Bancorporations, not the other types of large banking con cerns...There is a special kind of rela tionship in community institutions like banks and insurance agen cies—a special kind of trust. I don’t advocate relinquishing all banking controls.” The panel was moderated by Hank Koehn, vice president, futures research division, Security Pacific National Bank, Los Angeles. The panelists were: Paul Dunlap, presi dent, Hawkeye Bancorporation, Des Moines; John Evans, president, A ID Insurance S ervices, Des Moines; Dr. Allen Lipis, president, Electronic Banking Inc., Atlanta, and Muriel Siebert, chairman, Muriel Siebert & Co., New York. The thought-provoking, keynote speech for the panel was given by Mr. Dunlap. He spoke bluntly and directly to the inroads into Iowa banking turf by giant financial en tities from major money centers— banks and non-banks alike, and to the continuing steps by Iowa bank ers to protect their business from outside competition. He then stated: “ For we 643 small banks in Iowa, the walls we have built so high have accomplished one thing—we have imprisoned ourselves, unable to cross our own borders and compete in a larger environment. We can’t isolate Iowa banking from the rest of the world, no matter how high we build the walls. However, we can cause our own demise by being afraid to allow ourselves the right to go outside of Iowa and slug it out on the turfs of Minnesota, Illinois, Missouri and Nebraska.” Mr. Dunlap added, “ If we look out to the year 1990, most of us in this room will readily admit our world will be quite different from what it is today. Change doesn’t mean tomorrow will be better or worse. All it means is it will be dif ferent. How we react to change will determine if tomorrow is better or worse...If you stop and think about the scenario and ask yourself the question—‘What is the greatest danger to my bank here in Iowa?’—I would submit the answer has to be that we sit and watch what is occurr ing and we ourselves don’t cause our own institution to do anything dif ferently... You know, the dinosaurs waited and hoped the weather would change.” Iowa Governor Terry Branstad opened the Tuesday morning ses sion with a brief update on what is being done to improve the employ ment situation in industry and what’s being done for development of the state. He thanked IBA Presi dent Bud Pike for responding im mediately and affirmatively when the Governor called Mr. Pike several weeks ago at the last hour and asked him to be one of five members of the new Racing Commission authorized by the state legislature (after one of the original five had to decline at the last minute). Governor Branstad also thanked the IB A for its conti nuing attitude of cooperation. The bulk of the morning program was given over to Dr. Spencer Johnson, co-author of The One Minute Manager. His extended presentation relied heavily on au dience p articipation , stressing behavioral patterns. U.S. Secretary of Transportation Elizabeth Dole was the final speaker Iowa News 71 II II Arlys and Bud Precht, chmn. & c.e.o., Norwest Bank Des Moines, John Benz, pres., Melvin Savings; Marie and Stan Smith, chmn.. Rock Rapids State; Lee Bachand, sr. v.p., and Sam O’Keefe, exec, v.p., Norwest Bank Omaha; Judy Bachand and Joan Benz. Jim Figge, exec, v.p., Davenport B&T, and Sandy; Ellis Barber, pres., DeWitt B&T, and Myrtle, with Mike Bauer, 1st v.p., Daven port B&T, and Judy. Hosts at Drovers Bank of Chicago reception were: Frank Bauder, chmn., and Vickie; Ruth and Jim Carmody, pres., and John Crotty, sr. v.p. Bud Cross, v.p., and Paul Gargula, corr. bk. off., 1st Natl., Chicago; June and Ken Burke, sr. v.p., Citizens 1st Natl., Storm Lake; Betty and Morris Neighbor, pres., Farmers State, Marion, and Dave Varnerin, a.v.p., 1st N a t. Chicago Hill Hammock, exec, v.p., LaSalle Natl., Chicago; Lynn Fuller, pres., Dubuque B&T; Wayne Bismark, a.v.p., LaSalle Natl., and Gary Stevenson, v.p., 1st Natl., Sioux City. 41 visit with Harold Godbersen, chmn., Ida County State, Ida Grove. II # || £ John Van Dyke, chmn., Toy Natl., Sioux City; Brad Young, chmn., Iowa T&S, Centerville, and Bob Vasko, v.p., Continental Bank, Chicago. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Cliff Carlson, v.p., Farmers State, Merrill, visits with Nat Rosenberg, mktg. dir., Cardpo Services, Inc., Westmont, III. Northwestern Banker, October, 1983 72 Iowa News LEFT—Elizabeth Dole (third from left), U.S. Secy, of Transportation, is pictured with IBA staff hosts, from left: Marie Wilson, dir. of educ./ human resources; Wes Ehrecke, govt, rel./mktg. dir., and Neil Milner, exec. v.p. RIGHT—Helping staff IBIS exhibit were Millie Uding, Bill Carr and Margie Schaefer, all v.p.s. on Tuesday morning. She said Iowa’s share of the 5<t increase in gasoline taxes is $73 million. She said the $10 billion price tag for revising air control landing methods will lead to a $75 billion savings at the end of a decade, and also said that higher user fees on inland water-ways will be needed before de sired improvements can be made. The final business speaker Tues day afternoon was Anat Yalif, vice president for corporate planning at Marine Midland Bank, New York. Prior to joining that bank earlier this year, she was in charge of a research project at Arthur Young on behalf of A B A to identify the best markets in which banks could ex pand and capture a good market share. In her Iowa presentation, she relayed the findings of that study, which has been widely publicized. An aside to bankers who did not know the speaker before she ap peared on the platform is that Anat Yalif is a sparkling, happy person with doctoral and master degrees from leading eastern American universities who portrays none of her childhood experiences in Israel where, growing up as a child, she routinely carried guns with her to school and work since all youngsters had to be trained in armed defense. Crammed into the action-packed three days of the convention were outstanding entertainment events. Sunday night Johnny Cash turned in two outstanding performances for Iowa bankers at the Civic Center. The Nostalgia Night on Monday evening at the Hotel Fort Des Moines offered traditional ballroom dancing to music of the ‘ 30s and ‘40s, while across the hall other Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis generations could have a lively time in their jeans, saddle shoes and let ter sweaters while rocking to the music of the ‘ 50s and ‘60s. The con cluding evening’s Inaugural Dinner and Show was a black tie, semiformal affair that drew a packed ballroom at the Marriott. Any report on the Iowa conven tion couldn’t be concluded properly without mention of the truly outstanding job done by the IBA staff in preparing for the conven tio n —from details that made registrants’ more at home, to the planning for the speaking program. Many staff hands were involved and they deserve kudos from the membership. □ Waterloo Elections Told Peoples Bank and Trust Com pany, Waterloo, recently announced the election of Alan C. Schmeidel to assistant vice president of the opera tions division, and Mary E. Winkey as consumer loan officer-lending division. A.C. SCHMEIDEL M.E. WINKEY Mr. Schmeidel joined the bank in 1979 as an assistant cashier and operations officer. Ms. Winkey joined in August of this year from Farmers State Bank, Jesup. BMA’s lowa-Nebraska Chapter Sponsors Program The lowa-Nebraska Chapter of the Bank Marketing Association in vites bankers to attend a program October 18 at the Omaha Marriott, featuring Murray Raphel’ s Ten Golden Rules of Financial Advertis ing. Bankers may obtain more infor OVER 900 runners helped kick-off the 1984 mation on this program by contac Iowa Bankers Association Convention with ting David Simmons, executive vice their participation in “ Capital Pursuit.” Co president, Fremont National Bank, sponsored by the Iowa Bankers Associa 152 E. 6th St., Fremont, Neb. 68025. tion and the Des Moines Register, the event combined a three-mile fun run with a The program fee is $35 for members and $50 for non-members. 10-mile advanced run. Iowa News 73 <1 The reception line for the United Central Bank of Des Moines breakfast included: Jim Eiler, sr. v.p.; Oliver Hagen, exec, v.p., United Central Bancshares; Ken Myers, chmn., and Happy and Bob Millen, pres. & c.e.o. Dave Strautz, v.p , First Tr. & Sav. Bk., Remsen, and wife Kathy; Carol and Lloyd Schultz, v.p., State Bk., Spirit Lake; Tom Hromatka, info. sys. off., and Ron Kiel, corr. bkg. off., Security Natl. Bk., Sioux City with guest Sylvia DeZeeuw. Dean Schantz, pres., First Natl. Bk., Colfax, visits with Bob Atess, dist. mgr., US Life Credit Life. Dave Crew, sales & serv. rep.; Jim Grimes, pres., and Jerry McPhillips, sales rep., Brandt Systems, Omaha. Chris Hansen, dir., and Ellis Barber, pres., DeWitt Bk. & Tr., visit with Craig Bishop, inv. counsel, F & M Marquette Natl. Bk., Mpls. Bernie Miller, corr. bkg. off., American T&S, Dubuque, with his wife, Dee, and Don Erusha, pres., Solon State. Arne Lillehamer, eng. & mktg., NCR, Clemson, S.C., demonstrates use of POS gas pump to Bob O’Meara, exec, v.p., Merchants Natl. Bk., Cedar Rapids and Jim Schulte, dist. mgr., NCR, Des Moines. Dick McMuilin, v.p., and John Kavalier, exec, v.p., with State Bk. of Toledo visit with Office Concepts representatives Jim Jones and Ross Schoonover. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 74 Iowa News Jeanette and Dick Taylor, pres., First Natl. Bk., Sioux City, and Henry Royer, pres., Merchants Natl. Bk., Cedar Rapids, and his wife Ann welcome guests to the Banks of Iowa reception. Enjoying the United Missouri poolside reception were: Tom Smith, pres., Fidelity Brenton Bk. & Tr., Marshalltown; Dick Muir, v.p., Lyle Wells, v. chmn., and Phil Straight, exec, v.p., all with United Missouri, and Carol and Don Kelley, pres., Early Sav. Bk. John Tans, v.p., M & I Bk., Milwaukee, with Kathy Caveney, comp. serv. off., and Chuck Roum, v.p., M & I Data Serv., Milwaukee. Larry Glass, v.p., Sue Andersen, prod, mgr., and Steve Turner, EFT off., UCB Systems, Des Moines. SHARP CALCULATORS E L E C T R O MIC 0 F B C L SYSTEMS Ed Herrman, pres., and Rhonda Griffiths, sales rep., Electronic Office Systems, Des Moines. Gary Woods, pres., Manilla St. Bk., and wife Jana visit with John Wear, 2nd v.p., and Loreene Lane, staff asst., Omaha Natl. Bk. Northwestern Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis IAC Group field directors for the Des Moines office include Craig Ross and Mark Havemann. Jean Eden and Linda Heit, employment AGRIcareers, Inc. of New Hampton. specialists with 75 Tb correspondent banking services at American Trust and Savings American Thast and Savings Bank has the ingredients to make your bank more successful. In todays economy, your customers are looking beyond passbook accounts — beyond CDs — to find better inflation-fighting programs and money-saving plans. Individuals and businessmen alike are looking more and more to their bankers for a variety of sophisticated banking services. If you feel unable to serve some of those special requests, help yourself by calling American TVust and Savings. Our Correspondent Banking Team and Tfust Department makes growth and service easy as pie. And Bemie Miller has the recipe for success. Call 319/582-1841. Services: Over-line loan participation Depository for excess funds Bond investment counseling (portfolios) Collections Domestic and foreign wire transfer of funds Currency and silver procurement ACH (Automatic Clearing House Services) Cash letters Custom HR-10s Keogh prototypes Corporate profit sharing plans Tax shelters Unincorporated pension plans IRAs Bemie Miller, Correspondent Banker 319/582-1841 American '/Trust 0 Savings Danl^ The Danl^qf O pportunity Town Clock Plaza, Dubuque, Iowa 52001 • 319/582-1841 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member FDIC and FRS Northwestern Banker, October, 1983 76 Iowa News Continental Hosts Golf Outing Continental Illinois National Bank was the host of a golf outing held at the Wakonda Club in Des Moines last month. Shown above ^ discussing the discrepancies in attested handicaps and posted scores were, from left: Bob Vasko, v.p., Continental Bk.; Woody Brenton, v.p., Brenton Natl. Bk., Des Moines; Bob Walker, sr. v.p., Bankers Trust Co., Des Moines: Tom Dunlap, chmn., Andrew Savings Bk., and Bob Ralston, pres., First Natl. Bk. of West Union. Bob Holland, v.p., Continental Bk.; Don Martin, v.p., Central State Bk., Muscatine; Roger Rinderknecht, pres., Brenton State Bk. of Jefferson; Woody Brenton, and Larry Rolfstad, pres., Brenton Bank & Trust Co., Vinton. Sac City State Bank Names New Vice President Gary Gilliland has joined the Sac City State Bank as vice president, announced George H. Pingrey, president. Mr. Gilliland replaces Larry Reding who resigned recently to accept a position with Des Moines bank. Mr. Gilliland has been employed by the National Bank of Monmouth, Illinois, for the past 14 years and is a graduate of Monmouth College with a BA in economics and business ad ministration. He is also a graduate of the National Commercial Lending School and the National Commercial Lending Graduate Schol, University of Oklahoma. Estherville V.P. Named United Central Bank & Trust Company, Estherville, has announc ed that Phil Ken nedy will be join ing the staff as vice president and agricultural representative. Mr. Kennedy has been em ployed the last four years at H om e S ta te P. KENNEDY Bank of Jeffer son where he was agricultural loan officer and farm manager. Prior to that he served as vocational ag in structor both in Estherville and Jef ferson. Joins Corning Bank James W. Hoffman, president of Okey Vernon First National Bank of DigitizedNorthwestern for FRASER Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Corning, has annonced the addition of Scott Nolan to the bank’s staff. Mr. Nolan was graduated from Iowa State U niversity in ag business and finance. He joins Daniel J. Ricke of Westside, who started with the bank at an earlier date. Credit Life Licensing School ■ Oct. 24-25 A Credit Life Licensing School will be held October 24-25 at the Iowa Bankers Insurance and Ser vices, Inc., Des Moines. The s ch o o l w ill run from 12:30-5:00 p.m. on the 24th and from 8-12:30 and 1:30-5:00 on the 25th. Examinations will be held on Wednesday, October 26, at various times throughout the day. Study materials will be handed out at the school, however, it is recommended you obtain an Iowa Agent’s Study Manual to use for study prior to attending the classes. For information and registration contact: Jeanette M. Ellington, Iowa Bankers Insurance and Ser vices, Inc., 400 Financial Services Bldg., 508 Tenth St., Des Moines, Iowa 50308. Pilot Grove H.C. Buys Citizens State, Donnellson A newly-formed holding com pany, Pilot Bancorp of Pilot Grove, has purchased the Citizens State Bank of Donnellson and is con solidating it with the Pilot Grove Savings Bank. Present offices of Citizens State Bank will serve as a Donnellson office for the Pilot Grove Savings. Daniel A. Steffensmeier, president of Pilot Grove Savings Bank will continue as president. He said Doug VanDyke, who has been presi dent and chief executive officer at D on n ellson , w ill con tin u e as manager of that office and will become vice president of the Pilot Grove bank. Louise G. Dingman is cashier of Pilot Grove Savings Bank. Mr. Steffensmeier stated that all other personnel would continue in their present duties with the merged bank. Pilot Grove Savings Bank has deposits of $25 million, while Donnellson had $15 million, for a com bined bank total of $40 million deposits and $45 million in assets. Both banks are in Lee County in ex treme southeastern Iowa. Named in Traer Fred L. Lineberry has been named senior vice president and farm repres e n s t a t iv e o f F arm ers S a v ings Bank in Traer, announc ed William C. Talen, president. Mr. Lineberry joined the bank in 1968 as cash ier and farm rep resentative and IF.L. LINEBERRY in 1973 w as named vice president. He was graduated from the University of Missouri with a BS in agriculture, the agricultural credit school, spon sored by the Iowa Bankers Associa tion at the Iowa State University, in 1970, and the Colorado School of Banking in 1974. ^ £ q £ • 77 INVESTMENTS: JUST ONE OF OUR CORRESPONDENT SERVICES. Let Dwaine Stinger, Vice President, or R om a Kroll, Assistant Vice President, show you how their experi ence can help you get fast action in handling Federal funds transactions, m on ey transfers, security purchases and sales. Gary Stevenson Vice President Correspondent Banking 712-277-0618 Choose one of our services or as many as you need: • ITEM CLEARANCE You get an accurate, efficient system for obtaining the best availability of your funds to help increase the profitability of your bank. 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First National Bank m MEMBER FDIC • 712-277-1500 • Sioux City, Iowa 51101 • A BANKS OF IOWA’ BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 78 Iowa News ATM’s Installed at Three Davenport Food Stores Northwest Bank & Trust Com pany, Davenport, has installed automatic teller machines at three Geifman Food Store locations: Kimberly & Eastern, Rockingham Road and Kimberly & Division. PICTURED at the recent ribbon cutting ceremony held at the Geifman Food Store at Kimberly & Division in Davenport are: Richard Geifman (left) and Sam Geifman. A ribbon cutting ceremony was held at 10:00 a.m., August 29 at the Kimberly & Division store to kick off the week-long activities planned by Northwest Bank & Trust Com pany and Geifmans Food Stores. P atrons receiv in g an A T M demonstration were able to register for $100 worth of groceries given away by Northwest Bank. Also free food samples and coupons for free merchandise were given away throughout the week. Iowa Colleges Ask Banks To Match Special Grants Iowa College Foundation is cur rently beginning the second year of a unique matching program for banks in the state, according to Roger Hughes, the Foundation’s ex ecutive director. Five of Iowa’s largest financial in stitutions—Bankers Trust Com pany, Banks of Iowa, Hawkeye Bancorporation, Norwest Bank Des Moines and United Central Bancshares—joined together in 1982 to provide a fund to match new or reinstated contributions to ICF from Iowa banks in amounts rang ing from $125 to $500. The purpose of the program is to encourage the participation of non-contributing banks and to increase the pool of DigitizedNorthwestern for FRASER Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis available annual funds for distribu tion to the Foundation’s 24-member private colleges and universities. Mr. Hughes said that in the matching program’s first year, 24 banks were added to ICF’s donor list, bringing the total number of contributing banks in Iowa to 264, or 40% of the total number of banks in the state. The goal is to reach 400 contributing banks by June 30, 1984. The current solicitation strategy for the matching program calls for a combination of mailings, phone calls and personal visits. The effort is under the direction of the Bankers Advisory Comittee of ICF, which in cludes 20 bankers across the state, or two in each banking group. Serv ing ICF in this capacity are: Group 1 - John F. Gronstal R.E. Hagen Group 2 - Rodney Amlie Earl J. Underbrink Group 3 - M.A. Arneson Robert R. Rigler Group 4 - Christy F. Armstrong Rudolph A. Leytze Group 5 - H. Rand Petersen Ed H. Spetman Group 6 - G.M. Barnett William H. Brenton Group 7 - W. Louis Beecher Charles Kramer Group 8 - Dean Duben John B. Rigler Group 11 - Charles Eastburn Thomas H. Huston Group 12 - James H. Crane Jean T. O ’Neill Since its founding in 1952, ICF has raised a total of $14,140,293 for distribution to its member colleges, and more than 500,000 students have been the beneficiaries. Collec tively, these schools represent a $2 billion impact on Iowa’s economy. Alden State Bank Sold Leo Jorgensen, president of Alden State Bank, Alden, has announced the sale of the bank to Jim Coonley, II, his brother John Coonley, and Lyle Meyer. Jim Coonley and his brother are attorneys officed in Hampton and have interest in the ACORN Registers "Accepted Sale Registers by Bank Clerks Everywhere” Tor information write THE AC O R N PRINTING CO. Oakland, Iowa S h e ffie ld S a v in g s B ank and Farmers State Bank in Dows. Mr. Meyer is executive vice president of the Farmers State Bank in Dows. No personnel changes are ex pected. The bank sale is subject to regulatory approval. Mr. Jorgensen will continue to serve on the bank’s board of direc tors. FBS Ag Credit Corp. Opens Iowa Offices FBS Agricultural Credit Corpora tion, the agricultural finance subsi diary of First Bank System , Inc., has opened new offices in Cedar R a p id s and S p e n ce r. The C om pany already has of fices in Mason C ity, M in n ea polis, Minn., and R.L. BROWN Billings, Mont. Michael P. Septer, vice president and manager of the Iowa region has announced the following elections: Richard L. Brown, elected assis tant vice president and manager of the Cedar Rapids Office. Mr. Brown previously was a farm mortgage broker working primarily with Bell Investment Company, Burlington. He began his agricultural lending career in 1971 in the farm mortgage division of Metropolitan Life, Cedar Rapids. David N. Cronk, elected assistant vice president and manager of the Spencer Office. Mr. Cronk has most recently been associated with Centerre Bank, St. Louis, Mo., where he served as a commercial banking officer in the agricultural finance division. James W. Davids, elected assis tant vice president and manager of the Mason City Office. Mr. Davids previously was manager of the Forest City branch office of the Pro duction Credit Association. • Managing by the seat o f your pants could mean losing your shirt. In the past, banking was simple — buy low and sell high. You could manage on instinct, by the seat of your pants. Unfortunately, deregula tion has sent that philosophy the way of the teller’s cage. With change constant and com petition fierce, bank-management decisions are more complicated and crucial than ever before. A BICS management decision support sys tem can help you meet this challenge. With BICS, you can make decisions quickly — full automation of operations lets you instantly gather into one source all information on bank activity; at any moment you can determine the current condition of your bank. You can anticipate and prepare for the https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis future by testing your ideas and exploring pos sibilities with on-line financial modeling. You can maximize marketing efforts with our central information system that stores every piece of customer information. A BICS system means you, and all your peo ple, can make more profitable decisions. Which means you get to keep your shirt and order a dozen more. Find out how you can profit; call BICS marketing at (319) 395-6600. .a ■ ■ ■ I ■ is Banks o f Iowa Com puter Services, Inc. A “ Banks of low a" subsidiary. 80 Iowa News New Branch Manager Named Craig Bentrott, president of Hawkeye Bank and Trust in Maquoketa, has announced that Pat Hutchins has joined the bank as of fice manager of the Bernard branch. Mr. Hutchins is a Bernard native and recently graduated from Loras College in Dubuque with a degree in management and business ad ministration. Three Named in Urbandale Lucille Johnson has been ap pointed as vice president and mana g er of th e Johnston Office of Brenton Bank and Trust Com p a n y , U rban dale. Mrs. Johnson has been with Brenton Banks nearly 20 years. During her ten L. JOHNSON ure she has serv ed the bank as head of nearly all of its operating departments as well as bank cashier. Additionally, she has managed Brenton East, the bank’s consumer lending department and has served as the bank’s marketing director. S. MC KEE B.S. MAJOR In addition, Barry S. Major has been elected assistant vice president and Stuart McKee has been elected manager of the Uptown Office. Mr. Major joined the bank’s staff this year after having spent several years as an examiner with the FDIC. He will be involved with the bank’s commercial and consumer lending activities. Mr. McKee also joined the staff this year. He is a graduate of Grinnell College in economics. DigitizedNorthwestern for FRASERBanker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Indianola V.P. Appointed To Iowa Jobs Commission Norma Harmison, vice president of Warren County Brenton Bank & Trust, Indianola, has been ap pointed for a two year term as one of the five members of the Iowa Jobs Commission by Governor Branstad. The Governor had previously ap pointed Ms. Harmison as one of the five people representing business and industry, on a 15 member State Job Trianing Council. recently has served as first vice president at the bank. The dinner originally was planned for June, his anniversary date with the bank, however it was postponed until late July because Mr. Tietjens underwent open heart surgery earlier this summer. Peoples Bank to Create Financial Services Division R.K. Sverdahl, president of Peoples Bank and Trust Co., Waterloo, recently announced the Iowa Banks Accepted In SBA bank’s plan to create a new banking division that will begin offering a Certified Lenders Program wide range of expanded financial Conrad Lawlor, district director, services on an individual, personaliz Small Business Administration, Des ed basis to its customers. Moines, announced that five Iowa Although complete bank plans banks have been accepted into were not released, the new division S B A ’s Certified Lenders Program. will include Peoples Bank Brokerage Banks accepted are: Norwest Services, Business Development Bank Fort D odge, N .A., and and Cash Management Services. American State Bank of Fort To begin staffing the new divi Dodge, Toy National Bank and sion, Robert F. Pedersen, formerly Security National Bank of Sioux manager of the Kimball Office, has City, and Jasper County Bank of been transferred to the new division Newton. and Robert E. Manning has joined Under the program, private the bank as of September 1. lenders (almost all of whom are Mr. Pedersen has been employed banks) do much of the paper work at Peoples Bank since 1973 and has and supervision of small business worked in various positions within loan applications and subsequent the bank. loan servicing. Eleven financial in Mr. Manning has been marketing stitutions in the Des Moines district director for Young Development have received certification. The Des Company, involved with real estate Moines District Office serves the sales and apartment rentals. western 70 counties of Iowa. Na tionally, there are now more than 500 private lenders involved in the program which began in 1979 with Hartwick Number Changed 29 banks. The Area Code for Hartwick State In making the announcement that Bank has been changed to 319. q these banks have been named as Previously it was 515. The balance Certified Lenders, Mr. Lawlor of the phone number remains the stated, “ This distinction is given same, so the full correct number now only to ou tstan din g financial is 319/525-2221. The Cooperative organizations that have earned the Telephone Co. in Victor made the q highest respect and confidence of change recently, moving the town of our staff and passed the most strin Hartwick into the eastern Iowa 319 gent requirements in quality of loan Area Code. presentations, completeness in loan closing, and judgment in servicing Named in Cedar Rapids • of loan portfolios.’ ’ Merchants National Bank, Cedar Rapids, has named Richard E. Retz assistant vice president. He will Teeds Grove Banker serve as an agricultural consultant q Honored for 50 Years in the correspondent bank depart Employees and board members of ment. Teeds Grove Savings Bank recently Mr. Retz joined MNB in July of attended a dinner to honor Ben Tiet- this year. Prior to that he was vice jens for his 50 years of service to the president and trust officer at Home £ bank and community. He most State Bank in Jefferson. 81 The problem with most bank insurance is that it wasn't conceived by bankers. There are farmers’ insurance companies and firemen’s insurance companies. Even companies founded by travelers. But IBIS insurance was designed by Iowa Bankers only for Iowa banks. In fact, IBIS is owned by all Iowa banks. A n d dollar for dollar, you can’t do better. W hether it’s property and casualty insurance or creditor protection. Employee group health, life, or disability. IBIS professionals tailor each plan to meet your bank’s needs. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A t rates you don’t be a banker to appreciate. Dividends? Last year we paid over $475,000 to Iowa banks. For more information, call T800-532T423 tolbfree. A n d find out how much better insurance from bankers can be. IowaBankersInsurance &Services,Inc. 400 Financial Services Building, 508 Tenth Street, Des Moines, Iowa 50308 Northwestern Banker, October, 1983 82 Richard C. Remer has been elected vice president and head of the retail division and Rick E. Miller, assistant vice president in the lending division of Valley Na tional Bank. Mr. McPhillips has represented Brandt for over 20 years in Iowa, South Dakota and Nebraska. He is well known to many bankers in this area and will be responsible for sales of the entire Brandt line of money processing systems. * R.C. REMER R.E. MILLER Mr. Remer had previously been a senior vice president and director of Northwest Brenton National Bank. He is a graduate of the University of Iowa, where he received an M A degree in economics. Mr. Miller formerly was with the Small Business Administration in St. Louis. He has a BS degree in bu sin ess a d m in istra tion from Towson State College, Baltimore, Md. James O. Grimes of Money Han dling Machines, Inc., authorized B r a n d t S ales and S e r v ic e , h ea d q u a rte re d in Omaha, Neb., r e c e n t ly an nounced the ap p o in tm e n t o f Jerry McPhillips as sales repre m sentative for the Des Moines ter J. MC PHILLIPS ritory. DigitizedNorthwestern for FRASERBanker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis * * Diane Benoit has been elected ad ministrative officer for Brenton Na tional Bank. Ms. Benoit, who previously had been an officer trainee, will be responsible in the areas of ad ministration, coordination, research and policy and program develop ment relating to specialized opera tional areas within the bank. * * * Shirley Poertner, training officer at United Central Bancshares, Inc., has completed the certified leader training program sponsored by the N ational A ssociation of Bank Women. The intensive two-and-ahalf day session was held August 19-22 at Lake Forest College outside of Chicago. The program is designed to develop a core group of membertrainers who can both lead and teach others to lead N ABW seminars, workshops and other educational programs. Ms. Poertner is one of 46 par ticipants chosen on the basis of leadership potential, involvement in NABW and previous training ex perience. * * * United Central Bank of Des Moines, N.A., recently announced several elections. Phillip S. Rowley has been named ^ senior vice president and chief finan cial officer in charge of the finance and investments divisions. Mr. Rowley joined the bank August 1 of this year and previously served as f senior vice president and chief finan cial officer of the First Interstate Bank of Denver, Colo. Marjean L. Peterson has been named vice president and manager £ of the real estate and mortgage len ding division. She joined the bank August 15 of this year and previous ly was corporate secretary in charge of the real estate lending depart- q ment at the Ames Savings and Loan Association, where she had been since 1971. Gary C. Calvert was named manager, consumer loans, and 0 Claudia S. Conrad, manager of the South Des Moines Office. Mr. Calvert joined the bank in 1970 as a management trainee. In his new position he will supervise all # direct consumer and commercial loans underwritten at the various retail locations. Ms. Conrad joined in 1979 as a teller and most recently served as a custom er service # representative II. Hills Officer Named Carol J. Michel has been named a • customer service officer of Hills Bank and Trust Company, Hills. Mrs. Michel is a 1972 graduate of the University of Iowa and joined the bank in 1974. She will head the ® customer service department of the bank’s Iowa City office. Application Approved • The Federal Reserve Bank of Chicago has aproved the application of Luana Bancorporation to acquire Luana Savings Bank, Luana. ^ Peoples Bank Sponsors Seminars Peoples Bank and Trust Com pany, Waterloo recently sponsored q two seminars on personal money management for its “ 55 & Better” customers and for IRA and Keogh customers, at the ConWay Civic Center. q Fred J. Young, former vice presi dent and administrator of the in vestment service division of the trust department at Harris Bank in Chicago and author, was the £ speaker. NOW YOUR CUSTOMERS CAN BUY AND SELL STOCK WITHOUT ALL THE BULL GENERATE FEE INCOME United Central Bank’s Personalized Dis count Brokerage Service provides your bank with an excellent new source of fee-based incom e, without expensive start up costs for equipment or staff. And, unlike many other discount brokers, your bank maintains primary con tact with your customer ...not some faceless 800 number hundreds of miles away. YOUR CUSTOMERS SAVE MONEY Your customers may be able to save up to 75% of the com m is sions charged by fullservice brokers. UCB’s personalized discount brokerage service will appeal to your high net worth, high incom e cus tomers, giving you a competitive advantage, an expanded relation ship, and a profit base that you can continue to build on. IF YOU’RE INTERESTED If you ’d like more information about how Personalized Discount Brokerage Services can work for you, contact a UCB Correspondent Banker at 1-800-362-1615. lucbl UNITED CENTRAL BAN K OF DES MOINES. N.A. AFFILIATED WITH UNITED CENTRAL BANCSHARES, INC. MEMBER FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Northwestern Banker, October, 1983 84 Iowa News IBIS Hosts Golf Outing FORE! Over 100 Iowa bankers recently participated in one of two golf tournaments co-sponsored by Iowa Bankers Insurance and Services, Inc. and The Credit Life Insurance Company of Springfield, Ohio. Held in Waterloo and Carroll, the golf events included the usual charges by the losers of “ sandbagging” and less than honest play by the winners. Pictured above at the Carroll Country Club are: (left -right)—IBIS President Al Tinder; The Credit Life Insurance Company Vice President Jack Hawkes; Guest Speaker Iowa State Basketball Coach Johnny Orr, and IBIS Vice President Gary Livesay. Leading the list of non-trophy winners at Carroll (sans gallery) are; Bill Henderson, vice presi dent, and Dale Bankus, executive vice president, of National Bank & Trust Co., Chariton, and Mike Hunter, senior vice president of Brenton State Bank of Jefferson. Ames Bank Appoints Corporate Heads Union Story Trust and Savings Bank, Ames, recently announced the appointment of two individuals as corporate mangement heads. Joe D. Petra was elected presi dent and William R. Hurd was named chairman and chief executive officer. Mr. Petra has been serving as president of the Bank of Versailles in Versailles, Indiana. He formerly was president of the Lisbon Bank & Trust in Lisbon, and executive vice president of the Citizens National Bank in Boone. Mr. Hurd was a former vice presi dent at Union Story Bank and for the past five years has served as ex ecutive vice president of Frank Far rar and Associates, a service cor poration which has monitored and assisted over twenty Farrar owned banks. Gene Hawk, who has been serving as the bank’s president and chair man, resigned to assume full time presidency of Frank Farrar and Associates. Belle Plaine Bank Converts To National Charter Committed to making your bank stand apart from the Citizens State Bank, Belle Plaine, has filed application with the Comp troller of the Currency to convert from a state to a national charter. The bank’s proposed new name would be Citizens Bank and Trust Co., N.A. MARKET DAY... (Continued from page 26) ticipating continued low prices plus increased feed costs, many cattle and pork producers are culling their breeding herds and this is causing a flood on the market of green and undesireable livestock. They are urging the farmers to buy feeders to put in the low yield fields to feed out on the silage and then profit when the stock is taken to the yards. A t the completion of the ques tion and answer period, First Midwest Bancorp Chairman Roger Hegarty thanked the bankers for their participation in the 1983 Market Day and closed the session by inviting everyone to a steak fry on the country club grounds. □ DigitizedNorthwestern for FRASER Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Iowa News First Trust in Aurelia Sold to Local Investors Mrs. H.H. Deyloff, wife of the late H.H. Deyloff, has sold the majority interest in The First Trust and Sav ings Bank of Aurelia to a group of local investors. Details of the tran saction, which involved the sale of 740 shares of stock, were not reveal ed. The new owners took over con trol the latter part of August and an nounced there would be no change in personnel at the bank. Rex Whitney, who has served as president, is retired. Duane Gaudian served as managing officer in addi tion to being vice president and cashier, and has been with the bank since 1954. Scott Monical and Cindy Krause are assistant cashiers. Members of the board of directors include: Messers. Whitney and Gau dian, Orlo Shank, retired; Bob Forbes, publisher; Dr. Richard Berge, M.D.; Doug Radke, local farmer, and O.V. Hallquist, local farmer. The First Trust and Savings Bank has been a financial institution in the Aurelia community for over a century. The late Howard H. Deyloff spent his entire 58-year career at First Trust. He purchased the bank from the late W.H. Bischel in 1948 and served as its president for 33 years. He was chairman of the board at the time of his death December 15, 1981. W e’re not just fair w eather funds. Bill Manring Vice President https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bob Holt A g Representative M ark Thompson Loan Representative No matter what the economic climate, We know you can count on us your CUSfor ag loans, tomers’ financial needs aren’t always determin ed by the economy. And at First National, we don’t think ag loans should be either. That’s why we often make crop loans when grain prices are poor.. .or livestock loans when the livestock market is down. Because your farmer customers don’t need loans just in the good times. At First National, we have the resources you need to help you make ag loans when they’re needed. In 1982, we loaned millions of dollars to farmers. It’s all part of our continuing commitment to agriculture. First National. You can count on us. Anytime. Joins Treynor State Bank Steven J. Chambers has joined Treynor State Bank as manager of insurance ser vices and new product develop ment. He is res p o n s ib le fo r developing new a ffilia te d ser vices, the first of which will be a full-service in a surance agency. CHAMBERS Gronstal Insur ance Agency, owned an managed by former Bank President Robert Gronstal will be assumed by the Treynor State Bank in 1984 and will be manged by Mr. Chambers. Mr. Cham bers received his bachelor and masters degrees in business education from the Univer sity of South Dakota in 1969 and 1970. 85 First National Bank * 5 * P.O. Box 147, St. Joseph, MO 64502 (816) 279-2721 Member FDIC Affiliate of First Midwest Bancorp., Inc. Northwestern Banker, October, 1983 86 Io w a N e w s Private Bank Fails at Bloomfield; Chartered, Insured Bank Replaces It OR the first time in more than liability for $1,730,000 in deposits, 50 years, a private, uninsured thus giving depositors of Exchange Iowa bank has collapsed. The Ex Bank about a 10% immediate return change Bank in Bloomfield, founded on their deposits in the failed bank. The holdings of the Burchette in 1871, was declared insolvent on September 13 by Iowa Superinten family are so intertwined with the dent of Banking Thomas Huston. It Exchange Bank, the department was one of four remaining private said, that it is going to be a long pro banks in Iowa, none of which is in cess in unraveling it so that assets can be properly identified and li sured. Private banks are not subject to quidated in order to enhance further regulatory authorities unless they the return of depositors’ money. A request an examination or if they department spokesman said one of collapse. Peter Burchette, president the greatest problems is the lack of of Exchange Bank, contacted Mr. proper paper documentation on Huston in mid-summer, concerned loans, including a lack of security about the condition of his bank, and agreements. It is hoped this can be was told the department would clarified with Exchange Bank bor come in when requested to do so. He rowers so that with proper documen called Mr. Huston at the latter’s tation those loans can be packaged home in Columbus Junction on and sold off, either to Iowa Bank Labor Day, requesting an examina and Trust or to other lenders, so the tion and department examiners were receiver can pay off depositors. Asked why the department pur there the following morning. By September 13 it was determined the sued formation of another bank, the liabilities far exceeded the assets department spokesman said it was and the bank was declared insolvent felt another bank was needed in and Mr. Huston was appointed Davis County and it was also felt a premium could be obtained to add to receiver. Deposits of approximately $17 recovery monies for depositors. million were uninsured. A t the time, However, there were so few loans it was hoped depositors eventually that could be absorbed by a new would recover at least 50% of their charter initially that the premium amounted only to $25,000. The new money. There is one other bank in Bloom Iowa Bank and Trust capital of field, Davis County Savings Bank, a $350,000 is 20% of its liabilities at state-chartered bank with $35 this time, a high ratio. Mr. Huston’s job included the million deposits. It was the only other bank in Davis County, which unpleasant task of trying to explain has been devastated by drought this the actual condition of the bank to summer and has had poor crop its customers. When the new bank charter was granted, an additional weather for three straight years. After posting an invitation for problem was trying to explain to bids for a new charter in Bloomfield, some Exchange Bank customers the department received only one why certain depositors actually bid. It was accepted and the Iowa would get more credit for their Bank and Trust opened for business deposits than other depositors, due Thursday, September 28, after pay to the right of offset as outlined by ment of $2.1 million. Bidders were Iowa law. Just as a financial institution has A.C. “ Arnie” Benton, 53, and W.A. “ B ill” Krause, 48, well-known the right of offset against a bor Hampton, la., businessmen. They rower’s deposit funds to make good own the Renwick Savings Bank, as on a defaulted loan, a depositor also well as several other banks in has the right of offset of his or her Wisconsin and a wide array of suc deposits against his or her outstan ding loan to the extent of the cessful businesses. They purchased $1,500,000 in depositor’s deposits. The department’ s example cited a loans, sight unseen, from the receiver; the bank building for about depositor with a $100 loan and $200 $150,000; put in capital of $350,000, deposit. The newly-chartered bank and the receiver put in $130,000 gets that depositor’s loan for $100, cash. In exchange, they assumed and the depositor in this case then F DigitizedNorthwestern for FRASER Banker, October, 1983 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis has right to 10% of his deposit—or $20. The receiver still owes $180 to the depositor. If the customer then says he or she wishes to exercise set off, the department then would give the new bank an additional $80 to pay down that loan. With the $20 deposit value in the new bank, that totals $100, to liquidate the customer’s loan. At that point, the customer has received value of $100 from his $200 deposit, and still has $100 due from the receiver. At this point, that customer then waits in line with other depositors for whatever recovery might be made on the $100 balance. For a customer with a loan larger than the deposit, the customer gets the full value of the original deposit in Exchange Bank. If the customer’s loan again was $100, and deposit only $50, he would have $5.00 (10%) from the new bank, plus $45 the department would have to pay to the bank as offset, if requested, against the $100 loan. A t this point, the customer has received full value on the $50 deposit and owes the re maining $50 on the loan. □ ® ^ ^ £ q % INDEX OF ADVERTISERS OCTOBER, 1983 Acorn Printing ................................................................78 ^ American Trust & Savings Bank, Dubuque..................... 75 Banclease, Inc., Omaha ................................................ 61 Bankers Trust Company, Des Moines.............................64 Banks of Iowa Computer Services, Inc.............................79 Barclays American/Business C re d it...............................15 Brandt, Inc.........................................................................28 _ Bremer Financial Corporation, St. Paul............................ 43 9 Cardpro Services, Inc....................................................... 12 Continental Bank, Chicago............................................ 3 Curtis Hotel, Minneapolis............................................... 14 Daktronics, Inc................................................................. 13 Drovers Bank of Chicago............................................18-19 Employers Mutual Companies, Des Moines.................... 33 ^ F & M Marquette National Bank, Minneapolis............40-41 Federated Investors, Inc...................................................10 First Interstate Corporation........................................... 49 First National Bank, Chicago..........................................20 First National Bank, Lincoln............................................59 First Bank, Minneapolis.................................................4-5 First National Bank, Omaha........................................... 57 First National Bank, St. Joseph......................................85 First Bank, Saint Paul................................................. 36-37 First National Bank, Sioux City ......................................77 Gross, Kirk Co., W aterloo............................................... 87 IBM Corporation.........................................................16-17 Innerline—B A I................................................................30 Iowa Bankers Insurance & Services, Inc........................... 81 ^ Kooker, E.F. & Associates............................................... 80 Lincoln Benefit Life Company........................................58 Merchants National Bank, Cedar R apids...................... 2 Modern Banking Systems, Inc., Omaha ........................ 7 National Bank of Commerce, Linco ln.............................55 Northern Trust Company, Chicago ................................ 11 A Northwestern Bell Telephone Co..................................... 8-9 ^ Norwest Bank Omaha.....................................................52 Norwest Business Credit/Leasing.................................. 34 Norwest Leasing............................................................ 88 Office Concepts, W aterloo............................................. 84 Omaha National Bank ............................................... 44-45 United Central Bank, N.A., Des Moines........................... 83 ^ VanWagenen, G.D. Co., Minneapolis.............................. 29 4015 ALEXANDRA DRIVE WATERLOO, IOWA 50704 (319) 234-6641 Selected as 1983 REMODELING DESIGNERS OF THE YEAR by winning First Place in a NATIONAL COMMERCIAL Interior Design Remodeling Contest Specialists in Financial Facility Development https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis É É *l§Si*ï GET INTO CEASING WITHOUT GETTING IN OVER YOUR HEAD. Our staff of experienced leasing professionals can put together a leasing package for your customers that increases your bank yields with low financing costs and minimum risk. We can handle full documentation, billing and pay ment collection services, as well as accounting and tax services for you. So you can profit from the substantial benefits of leasing with only minimum involvement from your own personnel. Leasing is profitable. Leasing works. Let our Financial Services professionals show you how. Call today at any of our offices listed below, or in Minneapolis at (612) 372-7617. Omaha (402) 536-2310, Des Moines (515) 245-3392, Fargo (701) 293-8136, Billings (406) 657-3581. H k H LEASING. ANDA WHOLE LOT MORE. imi NORWEST LEASING mil m https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis m
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