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Vol. 15 No. 28 Des Moines, Iowa October 27,1986 Economist Predicts Increase in Economic Growth T O C K M A R K E T jitters not w ithstanding, real econom ic gro w th should in crease to a healthy 4-5% an nual ra te b e tween now and the end o f 1987, the chief econo m ist o f F irs t W isconsin Cor p o ra tio n , M il w a u k ee , p re C. ZEMPEL dicted recently. That grow th w ill be accompanied by a sharp rise in inflation and a m onetary policy that continues to be stim ulative, Clare Zempel forecast at the first o f F irst W isconsin’s 12th annual series o f Econom ic Outlook Seminars. The seminars were staged at a number o f F irst W isconsin banks around the state during O cto ber. Good economic grow th, coupled w ith a surge in inflation, is the sce nario underlying all o f M r. Zem pel’s projections this year, he said. Other key predictions include a jum p in real exports and a shrinking trade deficit. The stronger economy is lik ely to push up interest rates about 20% and buoy stock prices. It m ay also lead Congress to pass a tax increase in an effo rt to reduce the federal deficit, he suggested. S The risk o f recession is “ n eglig ib le” until late 1988, as M r. Zempel sees it, at which point, “ The Fed w ill get around to dealing w ith accelerat in g inflation.” In flation is lik ely to alm ost dou ble, from its current level o f less than 3% to nearly 6%, over the next five quarters, he predicted, citin g stabilizing oil prices as the main rea son. M onetary policy w ill remain sti m ulative, he suggested, w ith the Fed perm itting at least a 9% rise in “ M l,” the most common measure o f money growth, over the next five quarters. On the plus side, M r. Zempel sees the federal trade d eficit at a peak now, ready to come down. The influ ence o f a decline in the value o f the dollar typically takes six quarters to show itself, he said, meaning that righ t about now we should begin to see a decline in the trade deficit. M r. Zempel foresees an 11-12% increase in real exports between now and the end o f 1987. Such an im provem ent would provide a m ajor boost to G N P growth, he noted. R egarding the W isconsin econo my, M r. Zem pel predicts a 2.8% in crease in employm ent, am ounting to 57,000 jobs, between the second quarter o f 1986 and the end o f 1987. That includes 4% grow th in manu facturing (21,000 jobs) and 2.4% em ploym ent grow th in the service sec tor. T otal em ploym ent grow th could run as high as 3.6%, he added, if job creation in W isconsin’s service busi nesses picks up. “ W isconsin has more than held its own in m anufacturing em ploy ment, but we have fallen far behind in services and trade,” he noted. M r. Zem pel summarized his out look for the national economy this way: “ I am bullish on real growth, exports, capital goods and stock prices. I am bearish on interest rates and in flation .” Iowa News Iow a Bankers Insurance & Ser vices, Inc. w ill sponsor five Insurance Continuing Education Seminars at various locations in Novem ber. You may opt for Life/Accident & H ealth or Property/Casualty. R egistration w ill be at 7:15 a.m. w ith classes from 8:00 a.m. to 6:30 p.m. The fee is $45 for bankers and $65 for non-bankers, w ith $10 additional if paid at the door; you are encouraged to pre-re gister because space is lim ited. Fee includes materials, refreshments, lunch and Certificate o f Completion. The seminars are approved by the Insurance Departm ent o f Iow a for ten hours o f insurance CECs. Dates and locations are: N ov. 11—Sioux C all on th e “ Experienced P rofessionals” Ready to meet your correspondent needs. Lincoln 13th & M Streets, Lincoln, Nebraska 68501 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis FirsTier Bank, N.A., Lincoln, Member FDIC Norwest Bank Des Moines, N.A. Call (515) 245-3131 or toll-free (800) 362-2514 Member FDIC Ü 1 W j^ T e a m w o rk : o n e o f th e r e a s o n s w e ’re f i r s t in Io w a . N O R A S P R IN G S : Sam S. W eather ly has been elected president o f First State Bank here. H e succeeds Wm. G. Herbrechtsm eyer, who continues as president o f the F irst Security Bank & Trust Company in Charles City. M r. W eatherly m ost recently was senior ag loan officer at First Am erican S tate Bank in F ort Dodge. I P A N O R A : Jim Oberts has been named president o f Panora State Bank. M r. Oberts has served in sev eral Iow a banks, m ost recently as C ity H ilton Inn; N ov. 13—Red Oak commercial financial services de president o f First N ational Bank in Red Coach Inn; N ov. 17—W averly partments. Prairie C ity from February o f this Red Fox Inn; N ov. 19—Burlington, C H A R L E S C IT Y : O .L. “ Bud” Tom- year until that bank was closed July The H oliday; N ov. 21—Des Moines son died October 15. M r. Tomson 24. Adventureland Inn. To register con was affiliated w ith Citizens National tact Jeanette M . Ellington, IB IS , Bank here for 12 years as vice presi 104 East Locust Street, Des Moines, dent until he retired in 1984, and Iow a 50308. Minnesota News continued as a director o f the bank until his death. Services were held at F A IR M O N T : A t Fairm ont N ational C E D A R R A P ID S : Kenneth A . the Im m aculate Conception Catho Bank, James A . Haeckel has been Strother has joined Peoples Bank lic Church in Charles C ity. H e was a prom oted to chairman o f the board. and Trust Company as a senior vice brother o f O. Jay Tomson, chairman H e has been w ith the bank since president. H e w ill manage the and CEO o f Citizens N ational Bank. 1947, and spent the past four and a b an k ’ s len d in g d ivis io n s . M r. Strother brings 15 years o f financial D E S M O IN E S : In its third quarter half years as president. H e w ill con and lending experience to the bank. financial statem ent, Hawkeye Ban- tinue to be a full-tim e active officer. H e most recently served as execu corporation reported a third quarter James M . H ongslo has been elected tive vice president o f Intraw est loss o f $24.8 million. $4.3 m illion o f president and CEO o f the bank. H e Bank o f Grand Junction, Colo., the loss was reported to be from comes to Fairm ont after spending where he managed the consumer and operations, including loan losses. 20 years w ith Security N ational Cor The rem aining $20.5 m illion is a pro poration in Sioux C ity, la., where he jected loss to be realized on sales o f most recently served as president o f assets. Part o f H aw keye's agree the First N ational Bank o f Akron ment w ith its creditors was that its and the First State Bank o f Mapleton. subsidiaries and activities desig nated to be sold be put into a sepa ST. P A U L : Am erican N ation al rate division o f the company called Bank has announced the promotions “ discontinued operations.” Hawk- o f Robert Nelson to senior vice eye’s financial statem ents must in president and Richard F lesvig to clude a reasonable estim ate o f what vice president o f credit adm inistra operating losses these activities w ill tion. M r. Nelson w ill assume respon sustain over the next 12 months if sibility for overall group manage they remain unsold. The figure w ill ment o f the commercial and interna be adjusted every quarter as sales o f tional divisions, along w ith his cur the activities take place. Hawkeye rent responsibilities o f construction, has agreed to sell 23 o f its subsi aircraft, sales finance and leasing. diaries and activities, and to date H e joined the bank in 1979. Mr. has agreements on some 15 subsidi F lesvig joined the bank in 1985 and aries, including ten banks and five has been a vice president in the cor nonbank activities. respondent division. Tom Quinlin Jay Nichols ASK DENNIS EARHART to make MNB work for you. Toll free 1- 800 - 332-5991 M erchants ^ N ational B ank 151 Member F.D.I.C A BANKS OF IOWA BANK t's easier to talk Iowa banking with people w h o live it — people like Steve Brewer and the corre spondent staff at Bankers Trust. I C a ll 1-800-362-1688 o r 515/245-2424. Bankers Trust Des Moines, IA Member FDIC https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Steve Brewer Commercial Banking Officer Since the 1920s United Missouri Bank has been advising banks on the management of their bond portfolios. These timely recommendations have a history of sound logic and a positive contribution to bank earnings. Whether short- or long-term, we expect the strategies we recommend to be successful. Why? Because we continually update ourselves about the economy, the market and changes in the banking industry. So for quality recommendations that are engineered for high performance, contact our Investment Banking Division. Call (816) 556-7200 today. • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis UNITED MISSOURI BANK ... of KansasGtyiLa. P.O. Box 226 Kansas City, Missouri 64114 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Illinois News • • • A a ^ f E A S T D U B U Q U E : D aryl D. Barklow has been appointed executive vice president and CEO o f the East Dubuque Savings Bank. H e joined the bank in 1972 and has served in various lending positions. Thomas R eilly has been appointed senior vice president in charge o f loans. H e was recently em ployed by Am erican Trust and Savings Bank in Dubuque, la. and has 20 years o f banking experience. E L M H U R S T : Frank C. Rathje, president o f Illin ois M arine Bancorp, a $494 m illion bank holding company in Elmhurst, and Anthony C. Raccuglia, president o f Colonial Bancorporation, Inc., in Peru, 111., have jo in tly announced the signing o f a letter o f intent wherein Illinois Marine w ill purchase all o f the assets o f Colonial for $200 per share, less certain expenses. Colonial, a $48 m il lion asset bank holding company, has tw o banks located in Peru and Princeton. The transaction is sub ject to the developm ent o f a mutual ly acceptable defin itive agreement to be approved by the respective boards o f directors and the stock holders o f Colonial as w ell as appli cable regulatory agencies. Wisconsin News • # W isconsin Bankers Association Groups 5 and 8 w ill hold their annual m eeting on N ov. 5 at the Coun try Inn in Pewaukee. A reception w ill be at 6:00 p.m. follow ed by the banquet at 7:00. The speaker w ill be “ Ben Franklin." For reservations contact M r. T erry Sutter, M arine Bank W est, 831 N. Grand A ve., Waukesha, W I 53186, phone (414) 542-2511. 3 W e’re S ecu rity fo r You A t Security National Bank, w e ’re people you can count on to handle all o f your Correspondent Banking needs. So, start corresponding with us. W e’re Security for you! SECURITY NATIONAL BANK IN SIOUX CITY. IOWA. MEMBER F.D.I.C. Ron Kiel Correspondent Banking O fficer 712-277-6736 M A D IS O N : F irst Bank o f South D akota has elected John R. Eikanger vice president o f F irst Bank M adison. H e joined the bank in 1979, and has served as assistant vice president and retail banking manager since 1983. North Dakota News The N orth Dakota Bankers Asso ciation w ill sponsor Supervisory Skills W orkshops at four locations during Novem ber. Speaker is Don Jones, president o f Financial Educa tion and Developm ent, who w ill dis cuss a variety o f topics including communication and m otivation. Re gistration and continental breakfast is at 8:30 a.m., w ith sessions run ning from 9:00 until 5:00 w ith an hour luncheon at noon. R egistration is $90 before N ov. 7 and $115 after. D ates and locations are: N ov. 18— Doublewood Inn, Fargo; N ov. 19— H oliday Inn, Grand Forks; N o v . 20— S h era to n R iv e rs id e , M inot; N ov. 21—Sheraton Galleria, Bismarck. R egister through the N D B A office. Montana News U M A C H A , Suite 728,401 S. Second A ve., M inneapolis, M N 55401. Colorado News C O LO R AD O S P R IN G S : T erry Zebarth was recently prom oted to the position o f vice president and de partm ent manager o f the consumer loan departm ent at Colorado N a tional Bank— Exchange. H e has been w ith the bank for 14 years and m ost recently was a vice president in the commercial lending area. STATEMENT OF OWNERSHIP MANAGEMENT AND CIRCULATION (Required by 39 U.S.C. 3685) (also DMM 448.31) 1. Title of publication — Northwestern Banker Newsletter. 2. Date of filing — September 30,1986 3. Frequency of issue — Weekly. 3b. Annual Subscription Price — $8.00 4. Location of known office of publication (Not printers) — 1535 Linden St. #201, Des Moines, Iowa 50309. 5. Location of the headquarters or general business of fices of the publishers (Not printers) — 1535 Linden St. #201, Des Moines, Iowa 50309. 6. Names and complete addresses of publisher and editor and managing editor — Editor and Publisher — Ben Haller, Jr., 1535 Linden St. #201, 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 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, 1535 Linden St. #201, Des Moines, Iowa 50309. North western Banker, 1535 Linden St. #201, Des Moines, Iowa 50309. 8. Known bondholders, mortgages, and other security holders owning or holding 1 percent or more of total amount of bonds, mortgages or other securities: Ben Haller, Jr., President, 1535 Linden St. #201, 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 3,600 3,451 (Net Press Run) B. Paid Circulation 1. Sales through dealers and carriers, street vendors and counter sales NONE NONE 2. Mail Subscriptions 3,219 3,086 C. Total paid circulation 3,219 3,086 The Upper M idw est Autom ated Clearing House Association (U M A C H A ) has scheduled an Operations Seminar to be held at the Northern South Dakota News H otel in B illings on N ov. 18. R egis H U R O N : Lynn Schneider has been tration is $95 for the first registrant appointed president and CEO o f the and $50 for each additional. Non Farmers & Merchants Bank. T h e . member fee is $150. Sessions begin ® form er senior vice president was at 9:00 a.m. w ith a continental also elected to the board o f direc breakfast and end at 4:00 p.m. tors. H e replaces Bruce L. Odson, Lunch is included. To register con who took a sim ilar position with a tact Fred Laing, E xecutive Director, _ Minneapolis bank. M r. Schneider ® joined the bank in 1981. In addition, Magnum Vault D oors form er senior vice president James Ship from stock - Tw o on display in our showroom Hendricks was elected executive The industry’s highest quality and the industry’s lowest cost vice president. H e joined the bank in Bankers Security—Safe and Vault ^ 1983, and serves in the commercial, 9906 A E. 53rd St. Raytown, M O 64133 real estate and installm ent lending 816-358-0883 areas. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 D. Free distribution by mail, carrier or other m e a n s sample, complimentary, 265 and other free copies 266 E. Total distribution 3,351 (Sum of C and D) 3,485 F. Copies not distributed 1. Office use, leftover, unaccounted, spoiled 100 after printing 115 2. Returns from news NONE NONE agents G. Total (Sum of E, F1 and 2— should equal net press 3,451 run shown in A) 3,600 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 pro vided under this subsection unless he files annually with the Postal Service a written request for permission to mail 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 NEW OPPORTUNITIES PO SITIO N S AVAILABLE SR. COMMERCIAL LENDER Do you feel underchallenged? Join one of the largest, most profitable banks in the Twin Cities. Desire applicant with 4 yrs coml lending exp, degree and strong selling skills to do mid market lending. Ready to Hire! To$45K. Job #NW9205. SR CREDIT OFFICER Are you doing your bosses Job and not getting paid for it? This MN bank will recognize your talent and reward you accordingly. Desire 5 + yrs coml/ag lending exp with abili ty to develop loan administration procedure. Ready to Hire! To$45K. Job#NW9206. AGRICULTURAL LENDER Are you the kind of person that wants to be a manager? MN bank needs a ag dept mgr with 3 + yrs ag lending exp, a degree, and strong technical skills. HOT! To$30K. Job #NW9207. COMMERCIAL LENDER for $30 million bank located near state university. Requires 5 or more years experience han dling loans of $250,000 or better. Candidate will be a part of management team.................................................Salary to$35,000 COMMERCIAL LENDER for prestigious bank in western Chicago suburbs. Great future. Requires college degree and 3 to 5 years solid experience...............Salary to $40,000 COMMERCIAL LENDER for major Iowa bank in area of near 100,000. Requires 5 or more years experience, han dling large commercial loans................................... Salary to$40,000 MORTGAGE LOAN person to head department in $200 mil lion bank. Requires college degree and minimum of 7 years experience........................................................ Salary to $40,000 LOAN REVIEW person with 3 to 5 years bank or examining experience for a $60 million bank in a thriving county seat. ......................................................................Salary to $26,000 FOR MORE INFORMATION CONTACT PAUL GENTZKOW i Financial Careers (Division of Freeland Financial Service, Inc.) 1010 Equitable Bldg. Des Moines, IA 50309 515/282-6462 Employer pays fee. M> H> M> 3636 IDS Center Minneapolis, MN 55402 M M Please contact Malcolm Freeland concerning these posi tions or for other current openings. (612) 339-9001 ® ALL FEES COMPANY PAID aqncareers,inc. _J AG BANKING PERSONNEL SPECIALISTS RYAN AUCTION CO., INC. P O S IT IO N S A V A IL A B L E $45mm bank near metro area seeks AG/COMM’L LENDER. Excellent career path opportunity. Send resume to File No. WHA c/o Northwestern Banker. (PA) Decorah, Iowa 52101 Farm Equipment Specialist Appraisals & Auctions Call Dale Ryan 319-382-8648 Opening in West Central Nebraska Bank for REAL ESTATE LOAN OFFICER with experience in FHA-VA Loans and Secondary Market. Appraisal experience preferred. Send resume to File WHD, c/o Northwestern Banker. EOE/M/F. (PA) Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 FOR SA LE IBM 6:5 DICTAPHONE SYSTEM. 7 mikes. In good condition. Contact Bill at (515)448-5111._________________ (FS) MECHANICAL CHECK FILES—Two Diebold Inc. files with manual & automatic control selectors, complete with trays and three drawer work stations attached. Southwest Bank & Trust, 8800 West Center Road, Omaha, NE 68124. (FS) AND ASSOCIATES "Successful Banking is Quality Personnel" 2 SHARP MODEL BE3500 TELLER MACHINES & 1 IBM 5291 MODEL 2 display station. Contact Keith Schwebke, IA Falls State Bank, (515)648-5171. (WTB) PO SITIO N S AVAILABLE SR ACCT Firmly estab bk h/c seeks acct w/2 yrs exp to bk acctg through pub or private. SEC reptg, fin’l statement prepara tion & consolidated exp. Growth into controllership role in near future. $26K. CFO Lrg aggressive S&L on the acquisition trail offers great benefits in real impact pos. Treasury, operational & all fin'l functions will be under your leadership. $55K + . M A N A G E M E N T , INC. Consultant to Bankers D O N -S cH O O LE R In W A N T T O BUY Confidential. Employer paid fees POSITIONS AVAILABLE SENIOR VICE PRESIDENT for a $28mm bank, town of 1,000 ........................................... to $35,000 COMMERCIAL VICE PRESIDENT, recreational location, 2,000 pop.................................................. to $45,000 • Loan Review and Credit Administration • Profit Planning 773 Spruce Street P.O. Box 159 Ocheyedan, Iowa 51354 Phone: [712] 758-3440 AGRICULTURAL LENDER AND LOAN REVIEW OFFICER, nice small to w n ..................... to$40,000 EXECUTIVE VICE PRESIDENT, $100+ Bank, 30,000 population ..................... $50,000 to $60,000 VICE PRESIDENT, COMMERCIAL LENDER, $130mm Bank, 35,000 population .......................... ........................................................Range of $32,000 VICE PRESIDENT, COMMERCIAL LENDER, $285mm+ Bank, prime location Range of $40,000 P O S IT IO N S A V A I L A B L E CASHIER - $25MM Ag Bank. Requires background with inhouse minicomputers and some knowledge of Agri Loans. $30K PRESIDENT • Agri Bank with problem loans. Should have administrative experience and solid Agri Loan skills. $40K OPERATIONS - manage department of 35 for large urban bank. Experience with deposit accounting and account services required. $38K BANK AUDITOR NO TRAVEL! The perfect audit pos in a well-mgd bk offers inside track to mgt acct pos while utilizing current audit skills. Successful candidate will have SEC & EDP exp + 1-3 yrs in bk audit. $30K. #2 OFFICER, ALL TYPES OF LENDING, WORK OUTS, 3,000 Population ............................. $35,000 FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS PRESIDENT, $5mm Bank, 1 hr. from Metro .......... ....................................................................to $50,000 COMMERCIAL LOAN - large suburban bank with $100MM loan portfolio. Degree and minimum 3 yrs. comml lending experience with six figure credits. $32K w o B in T m COMMERCIAL AVP, $140mm Bank, excellent col lege town ................................... $25,000 to $35,000 Additional positions available in Midwestern states. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 <H M > <H H > (M> MM ® u f 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID SENIOR LOAN OFFICER, VICE PRESIDENT, ex cellent college town, CC membership . . . .$50,000 AGRI LOAN - community bank with large Ag portfolio. Seven yrs. or more Ag Lending experience needed. $35K TO M H A G A N & A S S O C IA T E S “ Serving the Banking Industry Since 1970” Vol. 15 No. 28 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second class postage paid at Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden Digitized forSt., FRASER #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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