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Vol. 12 No. 28 Des Moines, Iowa A B A A g Study Identifies Challenge S THE agricultural economy A slowly recovers as a result of trends toward higher commodity prices and lower interest rates, agri cultural bankers are expressing their concern about a substantial in crease in the competition they face from other lenders to finance the na tion’s farm and agribusiness custo mers. To help the more than 7000 com mercial banks which supply agricul tural credit meet their competitive challenge o f providing credit and fi nancial services to their farm custo mers, the American Bankers Associ ation com m issioned Alexander Grant and Co. to prepare a research study that will be the basis for stra tegic planning for the remainder of the decade and beyond. Of foremost concern is the com petitive nature o f the Cooperative Farm Credit System which is now making commercial loans and fi nancing export trade to agribusi nesses engaged in the marketing or processing of agricultural commodi ties. The CFCS has increased its total market share of the current $217 bil lion farm debt to 32.5%; 22.5% of non-real estate debt (seed, fertilizers, farm equipment, etc.) and 60.9% of the total real estate debt. By com parison, the total share of farm debt held by commercial banks is 20.5%. In 1975, banks held 61.8% of the non-real estate debt. By the end of 1982, banks held only 40.4% of that debt. Focusing on the CFCS, the study explores the problems inherent in the commercial banking structure which hinder the banking industry’s ability to fully supply the financial needs of agriculture. Recommendations on how the various segments of the commercial banking community can work to gether to overcome these problems and strengthen its capabilities in the market place, as well as an examina tion of the opportunities available for commercial banks to offer new services and products to attract and keep agriculturally related custo mers are considerations of the exten sive study. Research results of the study will be presented in a special Current Is sues Forum during the A B A Nation al Agricultural Bankers Conference, to be held November 13-16 at the Bonaventure Hotel in downtown Los Angeles. Conference attendees will have an opportunity to discuss specific is sues pertaining to the project such as: What should be done within the commercial banking industry to as sure cooperation between correspon dent, international and smaller October 31,1983 banks in making adequate credit available for production agriculture, agribusiness and for export trade purposes? How can commercial banks and the CFCS work together in the ultimate best interest of the U.S. farmer? What should be the posture of the banking industry if agency status is removed from the CFCS . . . or if the CFCS is offered deposit gathering authority or addi tional lending authorities? Other Program Events The conference program, to be held in California for the first time in its 32-year history, will offer a vari ety of events that have traditionally made this the nation’s foremost ag ricultural banking conference. Arkansas Senator David Pryor heads a list of speakers who will dis cuss present and future efforts affec ting American agriculture on a legis lative and regulatory level, provid ing insight on agricultural policies and programs that lie ahead. C. Robert Brenton, newly elected A B A president, who is also presi dent o f Brenton Banks, Inc., located in the heart of America’s agricultur al region, Des Moines, la., will pre sent his views on the deregulated banking environment as it affects agricultural banks. Gordon K. VanVleck, secretary of resources for the California Re sources Agency, will also address conference attendees. Adding a na tional and international perspective ASK DOUG KEIPER to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank is i Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA' BANK Norwest Bank Des Moines, N.A. SB±SS Call (515) 245-3131 or toll-free (800) 362-2514 NORWEST banks r_ |R f M W M M U » IBpHS w Member FDIC 'T eam w ork: one o f the reasons we're firs t in Iowa. Wjht l l Bob Buenneke Gary M cCllm en to major news events will be a panel Iowa News of key editors from Newsweek mag Applications for four bank offices azine. were approved at the last state bank Individual conference breakout board meeting. They Eire: sessions focus on the latest in bank Security State Bank of Suther ing techniques and technology, as land for an office in Calumet. (First industry experts discuss topics National of Paullina closed its Calu ranging from marketing and financ met office Dec., 1981.) ing to microcomputers, the impact Hawkeye Bank and Trust in Mt. of deregulation, to the agricultural Pleasant for an in-town office. commodities outlook. Evansdale State Bank for an of Outlook sessions will offer three fice in Waterloo. Midway Bank & Trust for a drivepanels of agri-bankers and industry in office in Waterloo. experts to discuss 1) Agricultural * * * Commodities Outlook; 2) California Agricultural Outlook; 3) Agricultur The Northwest Iowa Group of al Credit Outlook. The “ credit N ABW will be meeting Wednesday, outlook” session will focus on pro November 9, at the Sanborn Golf & duction and credit conditions as well Country Club in Sanborn with Don as a discussion on special banking na Carlson, assistant cashier of the problems in specific areas. Results Sanborn Savings Bank, as hostess. of the A B A ’s annual survey of the Along with the regular meeting, agricultural credit situation also will the group will be working on a be released at this session. N ABW module entitled, “ Develop An added dimension will be a full ing Employees - Mentoring & Role range of exhibits offering some of Modeling.” the newest developments in techni cal systems, microcomputers and COON RAPIDS: Bill Hess has been software with agri-banking applica elected chairman of Iowa Savings tions, and opportunity to meet with Bank. Mr. Hess, who has been a vice industry consultants to discuss the president of the bank since 1976, is also associated with the other Garst/ latest services. Chrystal banks. His previous bank The complete research study pre ing experience has been with Iowa pared for the A B A by Alexander State Savings Bank, Knoxville, and Grant and Co. will be available to all the State of Iowa Department of conference attendees at half price. Banking. Following the conference, the study will be available at full price through DENVER: Terry W. Schrage has the A BA . □ joined Denver Savings Bank as vice Professional ... Responsive... Call Mark Christen for any correspondent service. Call toll free (800) 622-7262 Valley National Bank in DES MOINES. IOWA 50304 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Member FDIC president, according to an announce ment made last week by Paul A. Buenneke, president. No other changes were made at the bank. Mr. Schrage resigned as president at Se curity State Bank, Shell Rock, to ac cept the Denver appointment. DES MOINES: The Des Moines Chapter o f the American Institute of Banking will be holding its Man agement Appreciation Night dinner Thursday, November 3, at the Airport Hilton Inn. A special reception honoring C. Robert Brenton, nation al president o f the American Bank ers Association, will be in the Gar den Room from 6:00 to 6:30 p.m., prior to the general reception. Speakers include Mr. Brenton, and special guest speaker Max Isaacson. DUBUQUE: Elliot R. Lese has been elected senior vice president of American Trust and Savings Bank, according to Nicholas J. Schrup, chairman. His 20 years o f financial experience includes serving as con troller for Orving Trust Company in New York and for a Laredo, Tex., bank, and as president o f a suburban Chicago savings and loan associa tion. FORT DODGE: Donald L. Porchet has been appointed senior vice presi dent of First American State Bank, announced Joseph D. Lawler, presi dent. Mr. Porchet has been associated with the Peoples Bank & Trust Co. o f Waterloo since 1957, serving most recently as executive vice pres ident. % 0 ^ ^ ^ • • 0 IO W A CITY: Iowa State Bank & Trust Co. received approval recently to form a one-bank holding com pany. • M A XW ELL: A t Maxwell State Bank, Mary L. Viers has been pro moted to vice president and cashier and Patricia K. Scoville has been promoted to vice president. Ms. Viers, who has been cashier since 1980, will also be in charge of the student loan program. She joined the bank in 1970. Ms. Scoville joined in 1973 and is in chage of customer service and assists in bank operations and marketing. 0 SIOU X CITY: Security National Bank is sponsoring a one day semi nar entitled Loan Risk Administration—A ct Rather than React. The seminar will be held at the Sioux City Holiday Inn on November 3rd with registration to begin at 9:00 a.m. Featured speakers Eire Mike Boehlji, professor at Iowa State 0 0 0 # MFHutton One Carriers Building Des Moines, Iowa 50309 Telephone: (515) 243-1203 NEW ISSUE MOODY’S: MIG-1 W© own and offer subject to prior sale and change in price and subject to our attorney’s approving opinion: $9,500,000 CITY OF DES MOINES, IOWA Bond Anticipation Project Notes, Series 1983 DATED: October 1,1983 DENOMINATION: $25,000 Principal and interest are payable upon m aturity (October 1,1984) at the office of the Treasurer of the City of Des Moines, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITY ______________5.80%_______________ $9,500,000 October 1, 1984* 5.80 Subject to prior redemption on April 1, 1984 at 100% plus accrued interest. Des Moines is the State Capital, county seat of Polk County and the largest City in the State of Iowa. It has served as the commercial in dustrial, governmental, and financial center for the State since its incorporation in 1851. Des Moines is the home of Drake University, Grand View Junior College and several other smaller colleges and business schools. Des Moines is an im portant insurance center with sixty home offices located in the City. The largest is Bankers Life Company with 2,900 employees. Also im portant is the printing and publishing industry: the largest employer in this category is Meredith Corporation with 2,800 employees in the printing of Better Homes and Gardens and other periodicals. Major employers also include: Northwestern Bell Telephone (3,500); Younker Brothers (3,094); and Iowa Power & Light (1 600) In addition, various levels of government provide employment to over 12,500 people in the area. Banking services are provided by 25 differentbanks and transportation facilities are provided by 4 airlines, 5 railroads. Interstate Highway Nos. 35 and 80 intersect in Des Moines. The area included with the City s lim it is about 65 square miles. The Series 1983 Project Notes are issued pursuant to a Resolution duly adopted by the City, and under and in compliance with the Constitu tion and statutes of the State of Iowa, including specifically Section 76.13 of the Code of Iowa, as amended, for the purpose of defrayinq part of the cost of acquiring and constructing certain public improvements. FINANCIAL STATEMENT Actual Valuation, 1982 Assessed Valuation, 1982 Net Direct Debt, including this issue Net Direct and Overlapping Debt Population, 1980 Federal Census: 191,003 Net Direct Debt: $251.07 per capita Combined Net Debt: $339.02 per capita $3,563,216,691.00 2,787,756,032.00 47,955,000.00 64,754,200.00 The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based Bonds of a particular m aturity may or may not s till be available or may now be available at a price or yield different from that indicated above. Supplement to Northwestern Banker Newsletter 10-31-83 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NOmnVESTERN 'j S o m vv 306 Fifteenth Street • Des Moines, Iowa 50309 • 515-244-8163 Easy Order Form for IRA and KEOGH Supplies (Order now by mail. Shipment sent to you by United Parcel Service) Total Cost Quantity Unit Price IRA B ro c h u re ................................................... at .16$ each $ Larger quantity prices: 1,000-4,999 @ .14c e a c h ............................. at .14c each $ 5,000 and over @ .100 e a c h ........................ at .10c each $ IRA MATERIALS: Bank name and logo im print on Brochures: $40 first 1,000; $5 per 1,000 above 1,000 (Be sure to enclose bank name and logo) $ ORDER IN EQUAL AMOUNTS— BOTH SETS ARE NEEDED: (Large Quantities: 500 or more = 15% discount; 1,000 or more = 20% discount) IRA Disclosure (2 two-part forms) (Minimum 25 sets—Order in sets of 25 only).......... at .50c each $ IRA Policy (2 two-part forms) (Minimum 25 sets—Order in sets of 25 only).......... at .50c each $ Wallets for IRA D ocum ents..................................... .......... at .90c each $ IRA Report to Participants (pad of 5 0 )..................... .......... at 1.25 per pad $ HR-10 B ro chure........................................................ .......... at .16c each $ Keogh booklets & forms (la., Mont., Nebr., S.D., Ore. o n ly )............................. .......... at 5.00 per set $ Subtotal $ Sales Tax (la. 4%; Nebr. 4%) Shipping $ TOTAL $ HR-10 KEOGH MATERIALS: Check enclosed Bill to bank Date T 19 $7.50 PLEASE TYPE OR PRINT: Please complete the form at right and mail entire page to: N ^pW E STE R N 306 Fifteenth Street Bank Name O fficer Name and Title Street address for UPS delivery Des Moines, Iowa 50309 City State Phone (include area code) https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 10-31-83 Zip https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CALL ON THE “PERFORMANCE TEAM” ■ ■ where comm on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. University, and Fort Dodge at torney Frank Pechacek. Topics will cover problem loan administration and loan documentation procedure. Registration fee is $50 and interest ed persons should contact Ron Kiel, Security National Bank, P.O. Box 147, Sioux City, Iowa 51102. VINTON: Elected chief executive officer of the State Bank of Vinton is Douglas Johnson. He previously was senior vice president o f First National Bank, Clinton, another Hawkeye affiliate bank. Mr. John son replaces Vernon Geiger who was elected executive vice president of Waukon State Bank. VINTON: Michael Cruzen has been elected president of Brenton Bank & Trust Company, succeeding Larry Rolfstad, who has resigned from the bank. Mr. Cruzen formerly was vice president of the bank. WATERLOO: John Rodgers Welch has joined Peoples Bank & Trust Co. as assistant vice president in the fi nancial services division, according to Rollie Sverdahl, president. Nebraska News HASTINGS: Marie Kilmer has been appointed vice president at City Na tional Bank and Trust Co., accor ding to Doug Oakeson, president. Mrs. Kilmer has worked at City Na tional for 26 years. LINCOLN: Directors of First Na tional Lincoln Corp. unanimously de termined that the Omaha National Corporation’s unsolicited tender of fer of $40 per share for 45% of FNLC’s stock “ is inadequate” and they “ urged shareholders to reject the offer and not tender their shares.” The announcement said a First Boston Corporation study of FNLC advises the “ offer is inade quate from a financial point of view.’-’ LINCOLN: John Knight has joined First Security National Bank here as president and chief executive officer effective October 24. He previously served as president and chief execu tive officer of Packers National Bank in Omaha and as administrative as sistant to the Governor for the State of Nebraska. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MITCHELL: Dawson Corp. of Lex ington recently received approval from the Federal Reserve Bank of Kansas City to acquire 73 percent of the voting shares of the Mitch Corp., parent of First National Bank of Mit chell, and Clarke Inc. of Papillion re ceived approval to acquire 100 per cent of the non-voting preferred shares. The Federal Reserve Bank also approved the application of the Mitch Corp. to become a bank hold ing company. Pat Hughes is serving as president of the Mitchell bank since its recent change in ownership. NORTH PLATTE: First National Bank and Trust Company recently announced the addition of Larry E. Reiser as vice president in the com mercial and agriculture loan depart ment and R. Bruce Haskell as assis tant vice president and agriculture representative. W E S T P O IN T : W .T . “ B i l l ” Knievel, chairman o f Farmers & Merchants National Bank will retire November 1 following a 70-year banking career. Mr. Knievel, who has spent the last 52 years of his career with Farmers & Merchants which he helped organize in 1931, will remain on the bank’s board. Mr. Paterson joined American in 1976 as a bond representative. SAIN T PAUL: Norwest Bank has named Sue C. Bonemeyer vice presi dent of operations, credit administra tion and financial planning. She joined the bank in 1982 and prior to that was with First Bank Security as a commercial loan officer. THIEF RIVER FALLS: Paul Kemp er has been promoted to vice presi dent and cashier. He joined the bank in 1980 as a cashier and previously was with Norwest Bank Faribault as a management trainee and assistant cashier. Illinois News The IBA announced Satellite Tele conference on backup withholding scheduled to be held November 4 will be located at the Holiday Inn, Deca tur, and the Marriott Oak Brook, not the Marriott O’Hare. Please note this correction. CRESTWOOD: John E. Barry re cently was named president and chief executive office of Crestwood Bank. Mr. Barry formerly was with Heri tage Olympia Bank in Chicago Heights for 12 years, most recently serving as senior vice president and cashier. Minnesota News North Dakota News MINNEAPOLIS: John R. Danielson has been named senior vice president of finance and planning by First Bank Minneapolis. He joined the bank in 1972 and had been serving as vice president of strategic planning since 1980. CROSBY: Quentin Benson has re signed as president of First National Bank of Crosby, to pursue other in terests. Mr. Benson has been with the bank 15 years and remained pres ident after it secured a national char ter, moved from Columbus to Crosby and its subsequent construction pro gram. The bank has not yet named a successor to Mr. Benson. SAINT PAUL: American National Bank has promoted Jeffrey L. Pater son to vice president in investments. An important new profit center for your bank: ■ a computerized local billing/credit service Contact: Leroy Bell or Milt Hennick 319-291-5412 National Bank of Waterloo 315 EâSt 5th St. • Waterloo, IA 50704 Member Federal Reserve System FDIC Montana News BILLINGS: First Bank Billings has elected J. Joseph Lindsley president and managing officer and Robert H. Waller chairman. Mr. Waller was elected managing director in 1982 and has continued to serve as the bank’s president on an interim bas is. Mr. Lindsley has most recently been associated with the United Bank of Fort Collins, Colorado, where he served as executive vice president and chief operating of ficer. WANTADS Rates are $5.00 per lin e per inse rtio n . Add $3.00 fo r file letters per inse rtio n . Id e n tity of file lette r advertisers cannot be revealed. NORTHWESTERN BANKER 306 - 1 5th Street Des M oines, Iowa 50309 Phone 515/244-8163 EXECUTIVE BANK RECRUITING Why Not a Higher Paying Position? Call us and lets talk about your banking career. 3 R.E.B. & Associates Executive Search Consultants 13625 C. St., Omaha, Nebraska 68144 Phone: 402/333-8248 or 333-6604 Ag Banking Personnel Let us help you. Call the ag lending personnel specialists without cost or obligation. Confi dential. Employers pay us to hire the best. Commercial Lender for bank located in Upper M id w e s t... To $32,000. Senior Ag Lender for Southern Minnesota Community bank. Excellent location and opportunity.......................To $35,000. Ag Lender with bank experience for eastern Iowa bank located near metro area......................................... To $35,000. Linda: 515/394-5827 Jeannie: 515/263-9598 if New Hampton, la. 50659 no answer, 712/779-3567 ■ Massena, Iowa 50853 30/7 CAREERS, INC. THE ORIGINAL AGRICULTURAL RECRUITER POSITIONS AVAILABLE Executive Vice President, Large Bank, Oklahoma OPEN Division Head, Corporate Lender, Arkansas $38,000-$45,000 Commercial Lender, #3 man in Department, Iowa $22,000-$25,000 Ag Representative, $40mm bank, Kansas $38,000-$48,000 #2 In Large Ag Department, Missouri OPEN SVP, CommerelaVAg lender, $60mm Bank, Illinois $40,000$45,000 #3 Man, Head of all Loans, Kansas $38,000-$46,000 #2 Man, Small Bank, Missouri $22,000-$28,000 Positions available change as more openings become avail able or as positions are filled. If you are interested in making an advancement or change in your present situation, as a candidate registered w ith me, you w ill be informed as posi tions come available that would appeal to you based on what YOU want in a bank; In salary, in location, and in size of town or city. I do not reveal your name to a client bank un til you are interested in interviewing. Eighteen years of banking service as President of both rural and metropolitan banks enables me to find the right bank ing environment for you. Phone or send resume to: Don W. Schooler, 2508 East Meadow, Springfield, Missouri 65804. Phone (417) 882-2265 (24 hrs.). “Successful Banking is Quality Personnel” ‘‘Banking Employment A g en cy” Installment Lender with farm background. Immediate open ing ..............................................................................Low $20s. Junior Ag Lenders with two or more years banking ex perience for llinois, Indiana, and Iowa locations.................. ..................................................................... Salary to $23,000. INSTALLMENT LOAN OFFICER—25 m illion suburban bank. Bank or finance company experience required to begin consumer lending immediately. Need good PR skills. Salary commensurate w ith experience. Send resume and salary history to file VBE, c/o Northwestern Banker. (PA) Write or call Malcolm Freeland, Freeland Financial Service, Inc., 1032 Carriers Bldg., Des Moines, la. 50309. Phone 515/282-6462 Employer pays fee. Immediate opening for MANAGER OF BANK INSURANCE AGENCY along w ith part-time banking. Located in west central Minnesota near Willmar. Contact Don Collins, First State Bank, Murdock, MN 56271. Phone 612/ 875-2431. (PA) AG REPRESENTATIVE $20 m illion bank in SE Iowa. Some experience desired. Salary com m ensurate w ith ex perience. Send letter with resume to file VBG, c/o North western Banker. (PA) All positions are in Missouri, Iowa, Kansas, Arkansas or Oklahoma Commercial Head, Illinois $30,000-$40,000 Ag Lender, Missouri, Small Town $30,000-$36,000 Ag Lender, Missouri, Small Town $22,000-$26,000 Operations/Customer Contact for major Iowa banking group ..................................................................................To $30,000. POSITION AVAILABLE WANT TO BUY $20-$50 m illion bank in agricultural area. Any midwest location. Write file VBL, c/o Northwestern Banker. (WTB) Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 D o n a l d E. H o l d e r , Principal Senior Ag Lender for N.E. Iowa bank located near metro area......................................................................... To $35,000. Number Two Person for N.W. Iowa community bank. Ex cellent conditions....................................................To $30,000 WANT TO BUY Bank Consultants Senior Ag Lender for larger m ulti-bank holding company bank in Upper Midwest. Requires strong ag lending back ground................................................................... To $40,000. Correspondent Bank Head for major midwest bank. Re quires strong lending and adm inistrative abilityTo $50,000. EXECUTIVE VICE PRESIDENT retiring Central Iowa Bank of $11 Vi m illion. Three to five years experience necessary. Operation: loans and insurance. Excellent opportunity. Write file VBI, c/o Northwestern Banker. (PA) cdio[d.EX and. c^f-iioaCatEi. POSITIONS AVAILABLE CEO for North Central Iowa com m unity bank...................... Salary Open. Bank in N.E. Iowa needs EXPERIENCED AGRICULTURAL LOAN OFFICER. Salary negotiable. Please send Resume. Write file VBH, c/o Northwestern Banker. (PA) CASHIER for $32 m illion central Minnesota com m unity bank. Minimum 5 years experience in operations; knowledge of micro computer helpful. Salary commen surate w ith experience. Send resume and salary history to file VBJ, c/o Northwestern Banker. (PA) Immediate opening for COMMERCIAL AND INSTALL MENT LOAN OFFICER in a 50 m illion western Montana bank. Salary negotiable. Experience necessary. One of the most desirable locations in the western US. Send resume to file VBK, c/o Northwestern Banker (PA) NW Illinois 50 m illion com m unity bank needs a SENIOR LOAN OFFICER. Must have 5-8 years banking experience in all phases of lending, including agriculture. Excellent opportunity in a good rural community. Call Andy Rogers, 1st National Bank of Galena, IL. Phone (815)777-0344. (PA) One and two bedroom condos on Main Street in Frisco, Colorado at pre-construction prices. Call: 1-800-922-2590 Dwayne Smith Paradise Properties Box S Dillon, Colorado 80435 (FS) FOR SALE 14 BRANDT COIN DISPENSERS. C ontact Eskel Peterson, Iowa State Bank, Des Moines, la. Phone 515/288-0111. (FS) BANKING If you would like to evaluate your career, my clients across the country have a wide range of needs in operations, lending, and trust. Salaries are in the $20-80,000 range. Clients pay our service charge. Call or write: Walt Heyne, Dunhill of Fayetteville Box 1570, Rogers, Arkansas 72756 Phone: 501/636-8578 SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 U.C.B. Building, 515-283-2545 Des Moines, Iowa 50309 BANKERS AVAILABLE CEO w ith 5 year earning average of 1.67 desires new challenge in Nebraska or Western Iowa com m unity bank. Salary Negotiable CEO w ith top performance record as head of com m unity bank for multi-bank holding company seeks new Iowa s itu a tio n ............ ........................................ Salary Negotiable Top Ag Lender recognized as one of the best in the midwest seeks number one or number tw o position in ag gressive cum m unity bank with deposits to $60 m illio n . . . . Salary Negotiable We have many other highly qualified bankers, so if you are seeking a person to either take over or to lighten your load, call Malcolm Freeland, Freeland Financial Services, Inc., 1032 Carriers Bldg., Des Moines, la, 50309. Phone 515/282-6462. Employer pays reasonable fee. POSITIONS AVAILABLE TRUST OFFICER— manage growing dept, for community bank. Requires tw o yrs. or more trust adm inistration ex perience. $28K PRESIDENT—Ag/Commercial oriented $30MM bank. Ex perienced CEO preferred but would consider second of ficer. Open AGRI LOAN—excellent opportunity to move into second man position in $25MM com m unity bank. Requires degree. $30K SENIOR LENDER—$30MM suburban bank seeks ex perienced lender with commercial and instal. background. $32 K CEO—com m unity bank of $35MM desires good ad m inistrator w ith superior lending skills. Stock options and bonuses based on performance part of package. Open COMMERCIAL LOAN—$150MM suburban bank. Requires 2-4 yrs. commercial lending experience and degree. $35K TOM HAGAN & ASSOCIATES 2024 Sw ift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Vol. 12 No. 28 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, 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, mail items .to above address. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis