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• Vol. 17 No. 25 Des Moines, Iowa Frank Naylor Looks at FCS and Banks ^ 0 0 % # # # « Editor's N ote: Frank Naylor, chair* man o f the Farm Credit Administra tion, McLean, Va., which is charged by Congress to be the regulator o f the Farm Credit System, addressed the Nebraska Banker Association’s 1988 A g Credit Conference on September 1. In that address he analyzed the problems and oppor tunities facing both the FCS and commercial banks. A summary o f his remarks follows: n EGARDLESS of where the resn ponsibility lies for the problems we have all experienced in the past several years, we have had substan tial change in the ag sector; we have undergone a fundamental change in banking from which we’ll never turn back. Perhaps the most significant item in the 1987 Act, and one of special importance that impacts you, is the so-called borrower’s rights provi sions. To a large degree, the System did this to itself because members of Congress perceived that the FCS was not treating its borrowers pro perly. What concerns me is the perception of borrower’s—ranchers and so forth—who don’t think their FCS unit has its act in place. Next Tuesday [September 6] we’ll put in place the regulator’s guidelines on borrower’s rights. M M LEE SCOTT WOULD LIKE TO GIVE YOU A PIECE OF HER MIND. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis It strikes me that it’s important that not only should the institutions we supervise treat their borrowers fairly, but banks, too, should learn from this and do the same, which I feel most of you have been doing. Go to school on the experience of the FCS. You can expect more, not less, intervention on behalf of borrower’s rights. In the end, our success and yours depends on the ability to lend at fair, profitable rates to serve our constituencies. Doing this to the satisfaction of Congressmen means reaching their comfort levels with the fact of whether you’ve treated their constituents properly. The FCS A ct has some things that will affect you in the next cou ple of years. One was the reorganiza tion of the units. The perception by Congress was that many banks in the System couldn’t clean up their act, so they passed a law ordering restructuring, but then passed the ball with only broad outlines back to the industry. As a result, I think you’ll see a hodgepodge change that may set up a new, competitive en vironment in which you won’t be comfortable, and you won’t go back to the good old days. More significant to you will be the votes of the Federal Land Banks and the PCAs, who have a whole string of merger options. These in October 3,1988 clude voting whether to remain separate entities or merge, for exam ple, and perhaps change the number of Districts. My biggest job the next six to seven months is to referee to make sure the proxy statements fairly represent all the options that farmers need to know about to vote. For you bankers, this will be an unknown quantity. There could be a change if the FLB and PCA choose to merge and be a tough competitor for you. We can’t tell you the out come until the farmer-borrowers de cide. Probably the most significant change over the next couple of years will be what you do with Farmer Mac. There is a mixed feeling in the System. Some opposed it outright. If it hadn’t been for the ABA, the IB A A and the insurance companies’ action, that view might have pre vailed. But, an important group in the System is working diligently to maximize System participation. It is the only place the FCS can go that will exempt it from borrower’s rights. There is increased feeling that Farmer Mac offers oppor tunity—and also some who feel it of fers severe competition in the long term ag real estate market. The System institutions by and large, I think, are going to be able to turn it around and will become very competitive again. The question is what the structure in your area will be; what form will it take, and what action it will take to be competitive. As part of the BICS10-Point Service and Support System, you get your very own executive account manager. One of these is Anna Lee Scott. Herjob is to make sure BICSgives your bank state-of-the-art data processing...and more. Oneway is withour management consulting service (point #6). We put our minds to workfor you so you can serve customers better, operate more efficiently and keep ahead of your competition. To findout howthe BICS 10-Point Service and Support System can give you 100% support, 100% of the time, call 1-800421-0059 or 1-800-332-5242 (inIowa). 1 0 0 % SUPPORT. 1 0 0 % OF THE TIME. 4333 Edgew ood Rd. N.E. P.O. B ox 1847 Cedar Rapids, Iowa 52406 319/395-6600 A Banks o f Iowa subsidiary 2 Your job will be to determine what your niche will be and what your course of action will be to pursue it. A reed challenge to edl of us lies ahead—the institutions I regulate, and your industry. Frankly, I think the institutions I regulate will make it. There may be some failures in the next five years, but adjustments will be made and we’ll make them and take ceire of the communities we serve. I hope all of you will make some hard decisions on what you are go ing to do. A t the same time, monitor the competition to see where they’re going, how that affects you, and what you will or need to do to ad just. □ Dick Retz ' MNB Correspondent Banker Together We Can Accomplish Great Things Call 319-3*68-4806 or toll free 1-800-332-5991 sented by Collin W. Fritz and Associates, at three locations in Oc tober. Registration begins at 8:30 a.m., with the meeting running from 9:00 to 4:00. Registration fee in cludes program materials, refresh ments and lunch, and is as follows: members—$110 for first registrant and $95 for each additional; sub scribers—$135 for first registrant and $120 for each additional; non members—$160 for first registrant and $135 for each additional. Dates and locations are: 25th—the High lander Inn, Iowa City; 26th—the Iowa News Hotel Savery, Des Moines; 27th— The Iow a D ep a rtm en t o f the Sail Inn Motel, Storm Lake. Economic Development and a team Contact the IBA to register. of marketing specialists from Iowa * * * Business Council member com panies have joined together to plan An IRA Compliance Manual is and implement a program of available from the IBA. The man economic development for the state. ual, prepared by Collin Fritz and 15 regional meetings will be held Associates, is being offered until Oc during October to preview Iowa’s tober 31 at the reduced price of $75 economic development marketing (regular price is $95). For an annual plans for the year ahead. Iowa $60 renewal fee, the manual will be bankers are encouraged to attend updated annually. To order, contact their local meeting, which will be Collin Fritz & Associates, 1100 two hours long. Dates and locations Hwy. 210 West, Brainerd, MN are: 3rd, 9:30—community college, 56401. Sheldon; 2:00—community college, Emmetsburg; 4th, 9:30—Steeplegate Hotel, Davenport; 2:00—com Nebraska News munity college, Cedar Rapids; 5th, The KBA/NBA Schools of Bank 9:30—Pizzaz Conference Center, ing’s 1988 School of Trust & Finan Burlington; 6th, 9:30—community cial Planning will be held October 31 college, Council Bluffs; 1:30—com through November 4 at the Holiday munity college, Sioux City; 14th, Inn in Lenexa, Kan. Enrollment fee a.m.—Iowa Professional Develop is $725, which includes registration, ers, Holiday Inn, Cedar Falls; 17th, instruction, double lodging, coffee 9:30—community college, Ottumwa; breaks, most meals and all mat 18th, 9:30—community college, Fort erials. For more information, con Dodge; 19th, 9:30—community col tact RoJean Clifton, Schools of lege, Ankeny; 2:00—community col Banking, Inc., 5930 South 58th lege, Marshalltown; 20th, 7:00— Street, Suite O, Lincoln, NE 68516. community college, Creston; 25th, 2:00—community college, Mason Ci FREMONT: Among recent appoint ty; 7:00—The Opera House, Elka- ments at FirsTier Bank Fremont was the naming of Clifford C. Cush der. man to vice president and manager. * * # He started his career at the bank in The Iowa Bankers Association 1962, and has experience in commer will sponsor a seminar entitled cial, consumer and real estate len “ IRA-88 Compliance Issues,” pre ding and in operations. 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GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DAVID E. ABENDROTH Senior Vice President DONALD M. TOWLE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1-913-234-2631 V FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES Serving the Heartland of America since 1909 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OVER 60% OFALL BANKS IN OUR MARKETAREA ARE NO W INSURED m BY THE KANSAS BANKERS SURETY COMPANY * That’s Right. . . In the nine states we serve we have solved the bonding needs tor 6 of every 10 banks. That's over 1 6 .4 % ot all banks in the United States THE REASONS. . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY... GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY DAVID E. ABENDROTH Senior Vice President DONALD M. TOWLE President 611 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 Phone 1-913-234-2631 FINANCIAL INSTITUTION BONDS, SAFE DEPOSITORY LIABILITY, CHECKS KITING FRAUD INDEMNIFICATION, DIRECTORS AND OFFICERS LEGAL DEFENSE AND LIMITED INDEMNITY POLICIES Serving the Heartland of America since 1909 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Lincoln Follow the arrow to Muni Bonds- Omaha In N ebraska: 800-742-7462 Enhance your portfolio with any investment from Municipal Bonds to U.S. Government Securities. |n N ebraska: 8 0 0 -6 42-9305 ” O utside Nebraska: 800-228-9175 Your FirsTier Team. Here to serve you well. ^.FirsTier. Banks FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC M innesota News O # MINNEAPOLIS: Mary Scobee has been named manager of the newest branch of Marquette Bank Minnea polis, located in the Jerry’s Grand view Heights complex in Edina. Ms. Scobee previously was assistant manager of a Wall Street branch of Chemical Bank in New York City. For Professional Correspondent Service Call 1-800-622-7262 ThereJs A Difference In Banks... Valley N ational B a n k ft Main Office - Sixth and Walnut DES MOINES, IOWA 50304 W isconsin News APPLETON: It was announced on September 16 that approval has been received from the Federal Reserve Board for affiliation of Col onial Bancorporation, Inc., Thiensft ville, with Valley Bancorporation, Appleton. Colonial owns banks in Thiensville, Port Washington and Richfield, with additional offices in Wauwatosa, Saukville and Jackson. ® The merger is expected to be com pleted during October. The transac t i o n is valued at approximately ^ $ 1 6 .6 million. JAMES F. MacLEAN Vice President A BANKS OF IOWA BANK Member FDIC H. PETER DeROSIER Vice President • sumer and customer service—rather than by geographic location. The re structuring will be implemented in stages over the next three to six months. STRATFORD: A t Stratford State Bank, Allie Knoll has been advanced from vice president to executive vice president. He has been with the bank since 1983. Raymond J. Weisenbeck has joined the bank as vice president in charge of all farm credits. He comes from Wisconsin £ EDGERTON: It has been an Rapids and has 26 years of banking nounced that the First State Bank experience. Randall Krebsbach, who of Edgerton will affiliate with Valley joined the bank in 1984, has been Bank of Janesville. The Janesville promoted from assistant vice presi bank will acquire the First State to vice president. Alma Laessig % Bank for cash, and it will be dent has been advanced from assistant operated as a branch office. The cashier to assistant vice president, Edgerton bank has assets of about and Lillian Drexler from assistant $22 million. The transaction is sub cashier to data processing manager. ject to regulatory approval and ap# proval of First State Bank share holders. KOHLER: First Interstate Cor poration of Wisconsin has an^ nounced a corporate restructuring. ^ Banking locations will be organized in three divisions—commercial, con Colorado News LITTLETON: The FDIC has ap proved the assumption of the deposits and fully secured liabilities of Citizens Bank of Littleton by Equitable Bank of Littleton. The failed bank’s sole office, closed on September 15, will not reopen. It had total assets of about $6.5 million. Equitable Bank will assume about $5.9 million in deposits and will purchase about $4.4 million of the failed bank’s assets, including $572,000 of the bank’s small loans at a discount of $84,200. RYAN AUCTION CO ., INC. Decorah, Iowa 52101 Farm Equipment Specialist Appraisals 8c Auctions Call Dale Ryan 319-382-8648 Bank sales, acquisitions and other management services SWORDSASSOCIATES.INC. PROFESSIONAL BANKING CONSULTANTS 2 Brush Creek Blvd. Suite 100 Kansas 64112 (816) 753-7440 Q First Interstate Bank We go the extra mile for you 1 800 362-1615 - Je ff Sim s https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Correspondent Services - Stuart Becker Correspondent Services 3 POSITION AVAILABLE DOES YOUR BANK NEED AN INVESTMENT CENTER? Your benefits: • New high net worth customers • Added profit • Reduced deposit loss to competitors • Ability to offer complete financial services Due to expansion, need AQ LOAN OFFICER for $30 MM central Iowa bank, 2-3 years experience ag (FmHA, SBA Guarantees, consumer loan experience helpful). Need ag gressive self-starter willing to call on existing and new prospect lines. Send resume and salary history to Security State Bank, Box 549, Hubbard, IA 50122. (PA) For information contact: INSURANCE: Due to expansion, we need aggressive in dividual with all licenses to manage agency in centra! Iowa with great potential. Responsible for selling and ser vicing all lines of insurance. Must also be willing to cross train in banking and loans. Send resume and salary history to Security State Bank, Box 549, Hubbard, IA 50122. (PA) INVESTMENT CENTERS Midwest holding company is seeking COMMERCIAL AND REAL ESTATE LENDERS with at least 3-5 years exp. Ex cellent benefits and growth opporunity. Send resume or letter to File No. WOI c/o Northwestern Banker. (PA) Farmers & Merchants Bank & Trust, Burlington, la., has a position available for a qualified INSTALLMENT LOAN OFFICER with 3-5 years experience. Send resume to Per sonnel Officer, P.O. Box 928, Burlington, IA 52601. Salary open. Equal opportunity employer M/F. (PA) "Successful Banking is Quality Personnel" Clean, well managed, aggressive, ind. bank in S.W. Minn, county seat seeking highly motivated person for V.P.— BRANCH MANAGER position. Send resume, bank ac complishments, civic involvement and salary require ments to: M. Will, P.O. Box 279, Bruster, MN 56119. (PA) PRESIDENT, $300mm bank, top administrator, successful delegator; dynamic public presenta tions ............................................................$100,000. Fast growing S.W. Minn, bank is in immediate need of an AG LENDING OFFICER. Qualifications for the position are comprehensive ag lending skills, knowledge of P.C. com puter, prefer 2-3 years bank experience. FmHA and some consumer lending. Contact File No. WOP c/o North western Banker. (PA) DON-y^CHOOLER In AND ASSOCIATES POSITIONS AVAILABLE czHotdzx and. c^hs.ociats.5. Specializing in the Purchasing and Sale o f Banks 515-232-0814 405 Main Ames, Iowa 50010 EXECUTIVE VICE PRESIDENT, $100mm range, lending background; civic leadership; top rated; solid earnings ..............................................$55,000. AG LOAN OFFICER— Profitable $41 million independent bank in county seat town. Needs community minded ag lender with 2 or more years experience. Salary commen surate with exp., plus full family health coverage and profit sharing. Please include salary history with resume. Con tact File No. WOR c/o Northwestern Banker. (PA) VICE PRESIDENT COMMERCIAL LENDING, $80mm good bank, good town, good organization ........................................................................$30,000. VICE PRESIDENT COMMERCIAL LENDING, $100mm+ suburban bank; top rated; strong organization ................................................$30,000. VICE PRESIDENT, $25mm country bank, indepen dent, close to trade center ................... $27-30,000. CONSUMER HEAD, suburban, primarily direct lending; upbeat mgmt.; solid rating ......... $25,000. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417)882-2265 R egency Diane Evans 1102 Grand Avenue, Kansas-City, MO 64106 816/842-3860 P O S IT IO N S A V A IL A B L E AG LENDER Growing Nebraska ag bank seeks dept, head for $30M bank. 3 + years ag banking, strong cash flow knowledge mandatory. $35K. PERSONAL BANKING Upscale bank seeks high image professional for relation ship banking position. Must have 4 yrs. lending in commer cial, real estate, consumer. $38K. TRUST HEAD Senior manager needed for large dept. JD a plus, worked with personal, estate planning and key accounts in a trust department. $50K. FOR SALE PORTABLE BANK BUILDING. 14’ x 65’ with Mosler vault & drive-up equipment + miscellaneous other equipment. Contact Wilton Savings Bank, Wilton, IA (319) 732-2077. (FS) Burroughs S1100 Single Pocket PROOF MACHINE, Serial No. S21873-001 —$250; Bell & Howell ABR 650 MICRO FILM VIEWER-COPIER with Auto Load—$100. Contact Barb or Jim at The State Savings Bank, Cantril, Iowa 52542, Phone (319) 397-2401. (FS) or n w A . M C . 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID Donald E. Holder, Principal Estate Appraisals Purchase of Collections Sale of Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest Ben E . Marlenee Coins 913 Locust Des Moines, Iowa 50309 515-243-8064 PO SITION S A V A IL A B L E B A N K F O R SA L E Due to recent death of a major shareholder, con trolling interest in the Clarke County State Bank, Osceola, Iowa will be sold. Bank has total assets of $74 million and R.O.A. of approximately 1.40 percent. Interested parties should contact Mr. Donald E. Holder, Holder and Associates, 405 Main, Ames, IA 50010, 515-232-0814. TRUST MARKETING - large urban bank. Requires degree and trust experience. $35K REAL ESTATE LOAN - single fam ily residential and secon dary market experience required. Proximity of major metro area. $40K LOAN REVIEW ■ large bank experienced required. Both junior and senior level positions available. $28-$40K COMMERCIAL LENDING • V.P. positions in urban and large suburban banks. Personal portfolios from $20MM to $50MM. $40 K POSITIONS AVAILABLE BRANCH MANAGER • handle small business and con sumer credits. Med-size com m unity affilia te of multibank holding company. $24K CASHIER - Nebraska - Need 5 + years experience in operations and expertise in bank rules and regulations. $35-40K Additional listings for commercial lending and trust officers. Resume' requested. FDR FURTHER INFORMATION CONTACT KURT ROSENCRANTS R O B E R T M fflL F BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402 - 571-5577 PRESIDENT, $50mm + , strong ag, small town . . . ................................................................ .$50-60,000. AG LENDER, credits of $75,000-$300,000; prefer Farm Credit experience......................... $28-32,000. RECRUITERS, INC. FO R SA LE RECONDITIONED PRESIDENT, $50mm + , top rated; minimal charge offs; strong capital; outstate; no ag .- * ... $75,000. COMMERCIAL LOAN OFFICER needed in $92 million bank, sizeable community (good market area), requires a sales and marketing oriented, professional individual with 5-10 years com’l lending experience. Excellent growth op portunity for qualified person. Send resume and salary history to File No. WOQ c/o Northwestern Banker. (PA) SERVING THE UPPER MIDWEST 1-800-544-7113 First Dakota Building P.O. Box 2796 Bismarck, ND 58502 or P.O. Box 65697 West Des Moines, IA 50265 Dorothy Minister, CPC GUMBERT EXECUTIVE EXCHANGE 9802 Nicholas Street, Suite 370 Omaha, NE 68114 Phone: 402/390-0275 TOM H A G A N & ASSO C IA TE S P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 * A “ Serving the Banking Industry Since 1970” Vol. 17 No. 25 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at Des Moines, Iowa. Address all mall subscriptions, changes of address (Form 3579), manuscripts to Northwestern https://fraser.stlouisfed.org Banker, 1535 Linden St., #201, Dee Moines, Iowa 50309. Federal Reserve Bank of St. Louis
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