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O ctober 5,1987

Des Moines, Iowa

Credit Administration officials say
they have restructured over $2 bil­
lion in farm loans. That’s fewer indi­
gram of work applies to what I ’m vidual loans than you might think;
supposed to be talking about, “Per­ only a bit more than 15,000.
spective on Agriculture... and the
Based on the level of net loan
on-going relationship between lend­ charge-offs for commercial banks,
ers and farm customers”; our poli­ the Farm Credit System and life in­
cies on farm credit, for example, and surance companies, lenders probab­
our statement on commercial bank­ ly wrote off around $8 billion in
ing for another.
troubled loans last year. This repre­
We commend federal bank regula­ sents about half the decline in loan
tors for changing the rules (at our volume.
urging) enough to allow more flexi­
With $50.9 billion in loans out­
bility in restructuring some farm standing, the Farm Credit System
loans. We think bank regulations remains the largest source of agshould also have enough room in credit in this country. Everyone has
them to let credit-worthy borrowers been aware that the System is in
move to another lender when a bank trouble. Nobody expects the System
is closed.
to fail and go under. Congress simp­
Looking ahead to farm credit ly won’t allow that. It has been obvi­
needs of 1988 is tricky, but our eco­ ous for a long time that there is need
nomists think commercial banks for a federal infusion of capital, but
will have most of the problem loans Congress has been less than diligent
cleaned up by the end of this year, in this respect, allowing crisis after
with only limited liquidation for crisis, with each one kicking off the
1988. Whether or not the total debt next. We simply cannot afford to go
goes down next year depends on through the uncertainties of an an­
what borrowers without financial nual, highly politicized funding pro­
problems may do. If they feel com­ cess similar to the one in which Con­
fortable about buying some of those gress has been engaged. We insist
new tractors, the debt load could that funding for a reorganized sys­
start going up again.
tem avoid yearly appropriations
Some of the hardest work we have brought on by the in-fighting. For
done over this entire year, and more, this same reason, funding also
has been our efforts to save, revive, should not be tied to a farm program
and make viable, the Farm Credit bill that would add new layers of
System. I ’m sure all of you are very political involvement. To avoid
much aware of the size of the prob­
KLECKNER ADDRESS.. .
lem.
As of the end of June, Farm (Turn to page 4, please)

Farm Bureau President Looks Ahead
N HIS address before the Iowa
I Bankers Association annual con­
vention on September 22, Dean
Kleckner, president of the American
Farm Bureau Federation, Park
^Ridge, 111., said the farm economy
reached its turnaround point in late
1985 or early 1986. As a result, 1987
net cash farm income is expected to
be about $56 billion, up $4 billion
•from last year, and up $17 billion
over 1984. Also, production ex­
penses, he noted, have fallen from
$116 billion in 1984 to $96 billion
this year. In addition, farm debt has
•fallen to $160 billion this year, $44
billion less than five years ago.
Farm interest expense is about $8
billion less than in 1982, running
around $14 billion now, instead of
• th e $21.8 billion in 1982.
After giving his audience a look at
the positive facts reflecting a resur­
gence in the farm economy, Mr.
Kleckner looked at the future, in­
c lu d in g the role Congress must play,
and future developments for agricul­
ture. A summary of his remarks fol­
lows:
g r i c u l t u r e is alive and
growing in America, even in
Iowa. Agriculture has its own agen­
da, and it’s time to get on with it.
In the case of Farm Bureau, we
thought long and hard about what it
takes to get agriculture back-ontrack. A lot of what is in our pro­

A

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Illinois News
Dorothea Wolfe

Mark Conway

Iowa News
FORT DODGE: On Sept. 30, Nor­
west Bank Fort Dodge Chairman
and CEO Earl Underbrink retired.
He remains a director of the bank.
Mr. Underbrink’s banking career
spans 41 years, including service at
Waterloo Savings Bank and the
Sears Bank and Trust Co. in Chi­
cago. He came to Norwest Fort
Dodge as president in 1963.
GLIDDEN: Kevin J. Brady has
joined First National Bank in Glidden as agricultural loan officer. He
previously worked for Farm Credit
Services.
IOWA CITY: Linda Bendorf has
joined First National Bank, Iowa
City, as a customer service officer.

She is a recent graduate of the Uni­
versity of Iowa College of Law. Also
at the bank, Carol A. Aschenbrener
and John R. Balmer have been ap­
pointed to the board. Dr. Aschen­
brener is a professor at the Univer­
sity of Iowa and Mr. Balmer is ex­
ecutive vice president of Plumbers
Supply Co.

Nebraska News
The Nebraska Bankers Associa­
tion will sponsor a Bank Operations
Conference at three locations in Oc­
tober. Registration and continental
breakfast will be offered both at 7:30
and 8:30 a.m. Those opting for the
earlier time will be able to attend the
early bird session, NBA Compliance
Handbook Review, at 8:00. A t 9:00,
NBA Assistant General Counsel
Ronald J. Sedlacek will present a
compliance law update. The noon
lunch will be followed at 1:00 by a
Call Report Update and at 2:00 by a
report on Bank and EDP Disaster
Recovery. Registration fee is $65 for
first registrant and $55 for each adSERVING THE UPPER MIDWEST

R egency

Bob Louvar

RECRUITERS, INC.

MNB Correspondent Banker

Together We Can
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Diane Evans

ditional, and includes materials,
breakfast and lunch. Dates and loca­
tions are: Oct. 20—Lincoln Cornhusker, Oct. 2 1 —Kearney Ramada
Inn, Oct. 22 —Ogallala Holiday Inn.
Register through the NBA office.

1102 Grand Avenue,
Kansas City, MO 64106
816/842-3860

CHICAGO: Michael J. Clawson has
been named president of Michigan
Avenue National Bank. He succeeds <
Lawrence W. Nortrup, who has been
elected vice chairman of the board.
Mr. Clawson joins the bank from
American National Bank of Libertyville, where he was president. R obert 1
R. Lopardo has joined the bank as
vice president and senior trust offi­
cer. He comes from First United
Trust Company (formerly Oak Park
Trust) where he served as vice presi­
dent and senior administrator.
CHICAGO: Kathleen T. Hardy has
joined The Exchange National Bank
as vice president in the financial in­
stitutions division. She previously
served as vice president at Cole
Taylor Bank/Drovers, and prior to
that was with the LaSalle National
Bank.

Wyoming News
GILLETTE: The FDIC has ap­
proved the transfer of insured de- 1
posits of the Stockmen’s Bank and
Trust Company, Gillette, Wyom­
ing’s fourth largest bank as of Dec.
31,1986, to First Interstate Bank of
Gillette. The failed bank’s sole office *
reopened on Sept. 2 1 . The FDIC de­
cided to arrange the transfer
because of an inability to determine
potential losses in contingent liabili­
ties of the failed bank. Stockmen’s 1
had total assets of $127.5 million
when it was closed Sept. 18. Its de­
posits totalled about $96.7 million,
including $319,000 in 80 accounts
that exceeded the federal insurance
limit of $ 100 ,000 .

For Professional C o rrespondent Service
Call 1-800-622-7262

Call 319-398-4204
o r toll free 1-800-332-5991

Strength
Eastern
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Merchants National Bank IS

Rapids. Iowa 52401
Member F 0 1C
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U.S.A. won the Olympics,
Amelia E arhart became
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United Missouri opened
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1535 Linden Street, Suite 201
DES MOINES, IOWA 50309

Staff Changes
Business Campaigns
Mergers, Consolidations
New Departments at the Bank
Remodeling or New Building

BANK ...............................................................................................
OFFICER .................. ......... .................................................TITLE

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Open Houses
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Speeches Made by Bank Officers
Special Announcements to the Public

4
POSITION AVAILABLE
PRESIDENT & CEO
FIRST NATIONAL BANK, ESTES PARK, COLORADO
THE FIRST NATIONAL
Strong capital, clean note case, fine officer and staff
group, excellent opportunity for major business growth
beyond the present $25 to $30 million asset base, and
located in a very progressive, beautiful community.
THE POSITION REQUIRES
All of the qualifications necessary to the office of
President & CEO, plus strong people and business
development skills, with a commitment to civic parti­
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Address inquiries and resume’s to: Chairman, First
National Bank, P.O. Box 2390, Estes Park, CO 80517.

POSITIONS AVAILABLE
PRESIDENT, $125mm outstate bank. Metro or
suburban bank background. Strong business de­
velopment skills & civic leadership. Proven track
record as President..................................$70-75,000.
PRESIDENT, $250mm + outstate bank. Strong
leadership qualities. Good public speaker. Good
long range planner...................................$55-65,000.

KLECKNER ADDRESS.. .
(Continued from page 1 )
these problems, a specific line of
emergency credit should be estab­
lished by Congress. The longer the
delay in providing new capital, the
higher will be the final total cost.
Even more to the point, the longer
the delay by Congress, the more un­
necessary “fixing” Congress will be
tempted to do.
Prolonging the indecision at­
tached to farm income problems
creates the muddy water in which
politicians find the best fishing. For

PRESIDENT, $500mm regional bank. Strong
leader, delegator and manager of executive staff.
Good long range analytical skills..........$75-80,000.
EVP, Mid-size holding company. Holding com­
pany or regional supervisory experience. Solid
planning capabilities, strong credit background.
................................................................. $70-75,000.

Estate Appraisals
Purchase of
Collections
Sale of Rare Coins

SVP, Head of Lending, $300mm bank. Big bank
background. Proven supervisory track record.
........................................................................ $55,000.

Reliable and respected service
for over 20 years

VICE PRESIDENT, strong commercial and ag-related background. Experience managing other
lenders.......................................................$40-47,000.
CASHIER, $20mm + bank, 8-18 years experience.
Small town with good schools, good hospital,
locally owned.................................................$25,000.
FACILITY MANAGER, consumer, real estate,
small commercial background. Good location.
Good benefits, self-starter......................$20-25,000.
DON W. SCHOOLER
2508 East Meadow
Springfield, Missouri 65804
(417) 882-2265

POSITIONS AVAILABLE
EVP—Soon to be CEO. Need heavy bank loan exp.
- administration - Central Iowa, $60 million bank.
To $50K.
SR. LENDER— Need several years of ag lending.
Degree preferred. Central Iowa, $70 million bank.
$40K Range.
CORP. CHIEF CREDIT OFFICER—Need several
years of extensive comm. & ag exp. - Omaha, ma­
jor bank. $40-50K.
AG LENDERS—S.E. Nebraska - degree. $25-30K.
All fees are paid by our client employers.
Richard L. Beam, CPC
GUMBERT EXECUTIVE EXCHANGE, INC.
11246 Davenport Street
Omaha, NE 68154
Phone: 402/330-3260

EXPERIENCED COMMERCIAL
LOAN OFFICER
Continued loan growth at Valley National Bank has
created a need in the Lending Division for an experi­
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member of Banks of Iowa, Inc., Iowa’s largest homebased bank holding company. Our Bank’s approach
to commercial banking is relationship oriented, pro­
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shares this philosophy. The ideal candidate will
possess strong credit skills, management ability,
and experience managing customer relationships.
Valley is able to offer the right applicant a competi­
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send current resume and salary history to:
Valley National Bank
Lois Kriebs
Vice President, Personnel
P.O. Box 906
Des Moines, Iowa 50304
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913 Locust
Des Moines, Iowa 50309
515-243-8064

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Lois Kriebs
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P.O. Box 906
Des Moines, Iowa 50304 <
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(800) 854-6115 outside California

example, great promises of great
“help” from Washington. In return^
of course, we are to give up the rig h *
to our most basic production and
marketing decisions. I predict that
sooner or later, even Senator Harkin
will realize that farmers have not yet^
reached such a sorry state that thejP
will go for ju st anything that is of­
fered from Washington. And, as we
watch the parade of presidential
hopefuls traipse through Iowa coriw
and bean fields and livestock lots,
we realize that Sen. Harkin is not
alone in his confusion.
What can be bad, is the negative
impact of a constant recitation o ^
just how bad things are, or at least
how bad they have been. Almost
without exception, with this sym­
pathy comes the suggestion that
there is no way out for ag ricu ltu re
other than to let Washington make
it all better through this-or-that pro­
gram to control production or to set
price. Politicians carefully ignore
some very important facts.
q
One: About half of all farm pro­
duction is not covered by federal
farm programs. These are the com­
modities doing the best all along—
livestock, fruits, poultry, vege-^
tables, horticultural crops and so on.
Two: The farmers in deepest trou­
ble produce the commodities that
have had up to fifty years of Wash­
ington “help” to get to the shapes
they’re in now.
Also, supporters of the idea to
raise market prices, at least tempo-

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zinski has 1 1 years of banking ex­
perience. Mr. Gowan has headed the
On Sept. 30, the Minnesota Bank­ Chaska bank for over six years.
ers Association held an official kick­
off for their centennial yeaf. Presi­ MINNEAPOLIS: Marquette-Holm
dent James Jorstad, Executive Vice Insurance Agencies has officially
President Truman Jeffers and other changed its name to Marquette In­
MBA officers arrived in a horse surance Group, reflecting the recent
drawn carriage at the corner of Kel­ merger with the Nevin Group, Inc.
logg and Jackson Street in down­ Jeffrey Nevin, former president of
town St. Paul. The spot was the site the Nevin Group, has been named
of the old Merchants Hotel, where president and CEO. William Fee,
early meetings led to the eventual former president of Risk Planners,
formation of the MBA. Attired in Inc., has been named executive vice
1880’s costumes, the officers held a
short program which also featured president.
St. Paul mayor George Latimer.
ROLLINGSTONE: The FDIC has
* * *
approved the assumption of the de­
The Minnesota Metro AIB has posit liabilities of First State Bank
announced its seminars for October. of Rollingstone by Eastwood Bank
Seminars with an asterisk will be St. Charles, St. Charles. The failed
held at the St. Paul Athletic Club, bank’s sole office reopened on Sept.
while all others are at the AIB office 14 as a branch of the assuming
in Minneapolis. Dates and topics bank. First State had total assets of
are: Oct. 6 —Real Estate Documen­ $14.5 million. Eastwood Bank will
tation; Oct. 7—Procedure Writing assume about $13.7 million and has
for Bankers; Oct. 7 —Management agreed to pay the FDIC a purchase
and Supervision*; Oct. 8 —Teller premium of $141,667. I t will also
Professionalism; Oct. 8 and 9— purchase certain of the failed bank’s
Analyzing Financial Statements: loans and other assets for $ 10.2 mil­
Beyond the Basics; Oct. 21—Manag­ lion. To facilitate the transaction,
ing Your Time; Oct. 22—Update on the FDIC will advance about $3.4
SEP’s and 401(K)s; Oct. 22 —Super­ million to the assuming bank and
vising the Teller Line*; Oct. 2 8 - will retain assets of the failed bank
Commercial Bank Management: with a book value of about $4.3 mil­
Understanding the Essentials; Oct. lion.
29—Legal Personnel Issues; Oct.
29—Word Perfect on the Microcom­
Montana News
puter. For more information, call
CORRECTION: Information fur­
(612) 338-8482.
nished last week by the Montana
CHASKA: James T. Gowan, presi­ Bankers Association about its Fall
dent of the First National Bank of Legislative Meetings contained two
Chaska, will retire on Dec. 31. He errors. The Bozeman meeting will be
will be succeeded by Jeffrey F. Bur- held at the GranTree Inn, not the
zinski, who has been serving as Holiday Inn. The Butte meeting will
senior vice president at the Norwest be at the War Bonnet Inn, not the
Bank of LaCrosse/Winona. Mr. Bur- Copper King Inn.

Minnesota News

□avid L. Hansen, CCP

HAMILTON
ASSOCIATES
100 Court Ave., Suite 306
Des Moines, Iowa 50309
515/282-0221

rarily, through various forms of gov­
ernment intervention, generally ig­
nore what it does to our ability to
^om pete at home and abroad. It sig­
n als to the rest of the world that we
are dropping out of the competition
for international markets. For a long
time, U.S. farmers took pride in
^>eing among the most competitive
producers in the world. Lately, that
has no longer been true.
Recently, a group of us heard a
“futurist,” Daniel Burras, talk
«about the major elements of change.
He suggested that crop and live­
stock innovations from genetic en­
gineering and biochemistry applica­
tion are to be the “cutting edge” of
f^he farming future. A t the Universi­
ty of Missouri, a geneticist has com­
bined soybean lines to produce a
strain strongly resistant to pests
such as the soybean cyst nematode.
9 If American agriculture is to
share in the new world of high-tech­
nology...in the full benefits of com­
puters, including those with parallel
processing and artificial intelli­
g en ce...in robotics, bio-electronics,
micro and laser mechanics...in the
benefits of genetic manipulation and
of molecular designing...in the use of
such things as hydrogen fuel, super­
cond u ctors, digital electronics...If
we are to share in all of this and to
grow with it, farmers must be well
educated, well financed, flexible,
highly innovative competitive in
•ev ery fair use of that word.
Above all, they must remain free
and independent to allow blossom­
ing of the entrepreneural spirit that
causes these things to happen.
□
COL. GORDON E. TAYLOR
Box 949 - Mason City, la. 50401
515/423-5242
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WKN c/o Northwestern Banker.
(PA)
EVP—$50MM Iowa bank in very nice town of 8,000 needs
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commercial and ag knowledge, documentation and mar­
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WKL c/o Northwestern Banker.
(PA)
Position open for person with 6-7 yrs. AG LOAN experi­
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Box 477, Hampton, IA 50441.
(PA)
AG LOAN OFFICER to manage $9.5MM ag loan portfolio
in $35MM bank. N.W. Iowa. Must have minimum 3-5 yrs. ag
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(PA)

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USED NCR MODEL 1773 LOBBY ATM. 3 yrs. old. Contact
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(FS)
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Bank located in one of the most desirable market
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Main, Ames, Iowa 50010 or call 515-232-0814.

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! $165 + mm growth oriented bank. Position available
j due to expansion in Metro area!
j ......................... To $42,000...................................... CallMarj.
| TRUST DEPARTMENT HEAD. Marketing, mana­
gerial, investments and strong personality for this
metro area bank! Excellent growth potential!
......................... To $53,000..............................Call Marj. j
MORTGAGE ORIGINATOR. A major bank holding I
company needs your origination experience and •
your ability to meet the public. President said you
won’t end up here-this is a place to start but your en­
thusiasm and talent will move you!
.................... To Mid $20’s......................... Call Bruce, i
ASSISTANT TRUST OFFICER Are you being chal- I
lenged in your trust department? A regional bank I
holding company needs your personal trust experi- j
ence to handle a spectrum of accounts in their $3
billion managed Trust! . To $25,000 + . .Call Bruce.
AG LOAN OFFICER. Ag lending expertise will allow I
you opportunity to work into commercial. FHA ex- j
perience a plus. Full benefits!
.......................To $30,000........................... Call Bruce. {
Partial Listing. Positions available throughout 1
Midwest. Cali or send resume in complete confi-1
dence.

<Personnel S earch
1126 So. 72nd St. Omaha, Ne. 68124

FOR SALE
RECONDITIONED
BRANDT Coin Sorters-Counters
BRANDT Currency Counters
New Warranty
402-571-5577

HUMAN RESOURCES DEPARTMENT
FEDERAL HOME LOAN BANK OF DES MOINES
907 Walnut Street
Des Moines, Iowa 50309
Equal Opportunity Employer

$35K.

EX VP
Growing commercial bank looking for #2 w/5 + yrs comm’l
lending and pres, potential.
$45K.

S e rv in g b a n k e rs q u ie tly a n d effic ie n tly .

714 First Interstate Bank Building
Des Moines, Iowa 50309
515-283-2545

anrioirœrs,inc.
«J

AG BANKING PERSONNEL SPECIALISTS

Please contact Lorraine Lear or Malcolm Freeland con­
cerning these and other Midwest banking opportunities.

POSITIONS AVAILABLE
PRESIDENT
Need a challenge? Have you been looking to manage a
larger bank? This rare opening to run a well performing
65mm bank just west of the Twin Cities is simply a oncein-a-lifetime oppty. You can still have the autonomy t d ®
manage your own bank. The ownership of this top rated
bank expects you to take charge and excel. This exciting
challenge requires 10+ yrs. commercial lending exp., de­
gree and a proven mgmt. record with a $30mm bank. Fan­
tastic Relocation Package! Car! Club! Perks! Bonus!
To$75K.
Job #NW2315.

SR. OPERATIONS

®

Are you handling more than you’re given credit for? In a
dead-end job? It’s time to step up to the plate! This “onthe-move” independent bank just north of the Twin Cities
seeks a take charge individual to run all areas of opera­
tions and some acctg. Your 4 + years operations exp.,
strong leadership skills and micro computer knowledge
will provide you the power to hit that homerun! Degree p re -A
ferred.
To$30K.
Job#NW2316.

Under paid? Do you get the visibility you deserve? Pres­
tigious bank group in Northern Minnesota is offering this
career climbing oppty. Requires 3 + years commercial
lending exp., degree, and strong business development _
skills. It’s time to unlock your future! Relocation package.®
To$40K.
Job #NW2317.
FOR MORE INFORMATION
CONTACT PAUL GENTZKOW
OR JAN PETERS
^

3636 IDS Center
Minneapolis, MN 55402

ALL FEES COMPANY PAID

POSITIONS AVAILABLE
COMML LOAN - $50MM suburban bank with excellent
growth and earnings history. Handle majority of commer­
cial credits. Report directly to President.
$38K
CEO ■suburban de novo bank. Experience as CEO or COO
required. Strong commercial loan and business de v e lo p -^
ment skills desired.
O pen^
LOAN REVIEW • large urban bank affiliated with major
midwestern holding company. Degree and 2-3 yrs. loan review/workout experience desired.
$30K

COMML LOAN -$100MM community bank. Supervise c o m -®
mercial lending function. Future advancement possible.
$45K

ran
ROBERT HALF
•f f
OF lOWa.MC.

______ ALL FEES COMPANY PAID

®

TRUST OFFICER • medium size community bank with
growing trust dept. JD preferred but not mandatory. $27K

FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS

(515) 244-4414

Financial Careers, Inc.
Two Ruan Center/Sulte 1000, Des Moines, IA 50309
515/245-3786
Employer pays fee.

(612) 339-9001

SR. COMM’L LENDER
Strictly comm’l position. Strong community involvement
for #2 In bank over all loans. Holding co exposure a plus!
$42 K.

317 6th Ave, Ste. 650
Des Moines, IA 50309

AG LOAN OFFICER—Well run Iowa bank looking for an
exp. lender to manage department, degree preferred..........
.......................................................................... . . . T o $30,000.

OF MINNESOTA, INC.

$30K.

CONSUMER HEAD
$50M + bank in 5K town seeks mgr who has people and
lending skills for #3 spot in bank.
$28K.

m i
----------

JUNIOR AG OFFICER—Community bank needs experi­
enced ag lender. Good opportunity to improve career path A
.............................
To $25,000.

M ROBERT HRLF
CAPITAL PERSONNEL SERVICE

POSITIONS AVAILABLE
TRUST OFFICER
JD or CPA w/employee bens and pers. trust.

CEO—Small Iowa bank needs a seasoned professional
with good operations, ag lending background. To $40,000.

V.P. COMMERCIAL LENDER

EDP AUDIT SPECIALIST
Immediate opening for an EDP Audit Specialist. The
qualified candidate must have two years experience in
systems analysis and design in a project development
environment and one year auditing-related activities,
or three years experience in EDP auditing, including
lead auditor responsibilities, or a reasonable com­
bination of experience and education. Competitive
salary and excellent fringe benefits. Qualified candi­
dates should send a resume to:

FARM MGMT
Leading Ag org seeks successful 2-3 yr farm mgr.

POSITIONS AVAILABLE
VP/TEAM LEADER— Metro bank needs commercial le n d er^
with 5-10 yrs. exp., formal credit training, degree and pro­
ven management skills for #2 spot in a $50mm depart­
ment........................................................................................To$50,000.

Additional positions available in midwestern states
for experienced bankers.

TOM HAGAN & ASSOCIATES
Marty 515/394-5827
New Hampton, IA 50659

Confidential. Employer paid fees

2024 Swift - Box 12346
North Kansas City, MO 64116
816/474-6874
“Serving the Banking Industry Since 1970”

S Ü « e 0l*2 oo,0rtrî1We.S.t®rn Ba.nker Newsletter <usps 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden
S ï ! M ?u e ?°1’ D! L Molnes;.lowa 50309’ (515>244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at
c f 8«onin^ f’ „ a,- Addfess al1 mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden
Digitized forSt.,
FRASER
#201, Des Moines, lowa 50309.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

A
”