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Ii k .. Voi. 9 No. 24 Des Moines, Iowa Nebraska Sues Federal Regulators HE Nebraska Bankers Associ ation and six Nebraska banks have filed a lawsuit against federal regulators over an enforcement guideline that could discourage commercial banks from providing credit life and disability insurance to their customers. The suit, filed in U.S. District Court in Lincoln, names as defen dants the Federal Deposit Insur ance Corporation and the board of governors of the Federal Reserve Board. A t issue is an enforcement guide line adopted earlier this year by the two regulatory agencies that re quires banks to make extensive file searches to determine whether past credit life and disability insurance coverage provided to customers now meets federal truth-in-lending re quirements. The truth-in-lending regulations are designed to provide customers with information about interest charges and costs when shopping for a loan. A NBA spokesman re affirmed the commitment of its members and the six individual plaintiffs to continue to provide this information to their customers. T Unfair Burden However, the spokesman said, the enforcement guidelines that re quires additional insurance notice xir->*r compliance prior to the time the guideline was adopted is placing an undue, expensive and unfair burden on banks that had originally been following approved procedures. The result could be that some banks will be forced to quit offering this insur ance coverage as a service to cus tomers, many of whom are not otherwise insurable. The suit seeks a declaratory judg ment by the court, restraining the two agencies from enforcing these guidelines. The NBA, headquartered in Lin coln, is the trade organization for approxim ately 450 com m ercial banks across Nebraska. Joining the association in the law suit are the First Bank & Trust C o., Cozad; Brunswick State Bank; Minden Exchange Bank & Trust October 6,1980 Co.,; City State Bank, Sutton; Lex ington State Bank & Trust C o., and The Culbertson Bank. □ Illinois News C H I C A G O : G overnor J a m e s Thompson signed into law SB 1728, the bill which permits the State of Illinois to disallow the federal bank ruptcy exemptions and to substi tute instead those exemptions per mitted under current Illinois law. The bill, which had the support of the banking and consumer finance industries, savings and loans and credit unions, has the effect of making bankruptcy proceeding fair for both the lender and the con sumer. CHICAGO: The 43rd annual trust conference of the Illinois Bankers Association will be presented at the Sheraton Oak Brook on October 7 and 8. The conference is entitled “ Trust Hyperopia,” which means expanding horizons. EVANSTON: Howard I. Kain has been appointed vice president of the First Bank. He will be in charge of long-range planning, data process ing coordination, and various ad ministrative departments. Mr. Kain was formerly a vice president of E x change National Bank. He received his BA and M BA degrees from the University of Chicago. ASK JOHN MANGOLD to make MNB work for you. Toll free: 1-800-332-5991 Merchants National Bank isi Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I A BANKS OF IOWA BANK ^ ROCK FALLS: Margery E. Croy has been elected vice president and cashier at Community State Bank. She joined the bank in 1975 and has 12 years of banking experience. SCHAUMBURG: Louis D. Brown has been elected assistant vice pres ident and manager of the Hoffman Estates office for Suburban Bank of Hoffman-Schaumburg, according to Glen E. Short, president. Mr. Brown was formerly with the Com munity Bank and Trust Company of Hanover Park as vice president and cashier. SKOKIE: Frederick E. Thompson has joined First National Bank as senior vice president of the corpor ate commercial banking division. He moves from State National Bank of Evanston where he held the same title. Iowa News CLINTON: James L. Menges has been appointed president and chief executive officer of First National Bank, Hawkeye Bancorporation has announced. Mr. Menges cur rently is president of American State Bank of Mason City. COLFAX: Marty B. Dial has joined the First National Bank as cashier. He was formerly with First National Bank, Beresford, S,D. DES MOINES: Robert M. Young Jr. has joined the staff of Bankers Trust Co. as vice president and Grow w ith a BANKERS’ BANKER Call 1-800-362-1688, toll-free in Iowa Single System Banking r NOW ACCOUNTS Now! A1 Bank Data Processing Professionals National Bank o f W aterloo P hone M ax C o ry at 1-800-772-2411. Waterloo, Iowa 50704 Member FDIC manager of investments. He comes to Bankers Trust from A .F . Stepp Investment. Inc., Kansas City, DES MOINES: Central National Bank & Trust Co. plans “ Corre spondent Banking/Update ’80“ on October 30 at Hotel Savery. The one-day conference will feature Reg D; new Fed pricing; NOW accounts, and computer processing. Kenneth M. Myers, chairman, will lead off the discussions starting at 9:00 a.m. A social hour at 5:00 p.m. will con clude the event. DURANT: The Federal Reserve Bank of Chicago announced approv al of the application of Liberty BanCorporation to become a bank hold ing company by acquiring Liberty Trust & Savings Bank. HUMBOLDT: James S. Ball has been named cashier of the Humboldt Trust & Savings Bank. JEFFERSON: Dean Hicks has been named senior vice president of Jefferson State Bank. Mr. Hicks has been associated with the Brenton-affiliated bank since 1974. LISBON: Joe Petra, president, Lis bon Bank & Trust Co., has assumed the presidency of the Bank of Ver sailles (Indiana). Frank Farrar owns Lisbon and Versailles. SIOUX CITY: James H. Anerl has been promoted to senior vice presi dent of the First National Bank, it was announced by Richard C. Taylor, bank president. SIOUX CITY: Ralph P. DiCersare Jr. has been elected vice president of Momingside State Bank, it was announced by Jack B. Conley, pres ident. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis h' TAM A: William Beohm, president of the Tama State Bank, has an nounced that construction of the new Tama Financial Center has started. The 14,400 square foot building will be located in the middle of an entire city block in downtown Tama. A" Nebraska News MORRILL: Charles T. Karpf, pres ident, First National Bank, has announced completion of an extens ive remodeling, doubling the size of the $11 million bank. A new front is featured. Open house was held last week. OM AHA: American National Bank has become a subsidiary of the A m erican N ational C orporation according to a re-organization plan announced by John M. Shonsey, chairman. Wyoming News W yom ing Bancorporation announced it has completed the sale of $8 million in 8V2 % debentures that it intends to use for financing new banks, provide additional capital for existing banks, and for general corporate purposes. The new Wyoming Financial In stitutions Board today had a bank charter action it handed down up held by the Supreme Court on a 4-1 divided decision. The Supreme Court upheld the seven-member board’s approval of a state bank charter for a new state bank at Worland. Call 1 800 362-2514 - - to get a lot of help for your money. I J C 1 m IOWA . t a h •ij IIÄ 1 NATIONAL BANK Member FDIC An A ffilia te o f N o rth w e s t B a n c o rp o ra tio n .1% Supplement to Northwestern Banker Newsletter 10-6-80 ATouchofClass $ Hallmarlf ••• I* 4- # U 4> .. 14k Gold D iam ond E arrings & Pendants A ►A Beautifully gift boxed diamond earrings and pendants in 1 4 K white or yellow gold. Contemporary styling in solitaire diamond or buttercup setting. 0f AA At Solitaire Diamond Earrings and Matching Pendant 0 D 2041R D2042R D 2044R D 2863R *Mr .06ct. 1/1 Oct. 1/4ct. 1/2ct. Retail Price Special Price $ 7 1 .9 9 102.99 225.99 687.99 $ 39.99 59.99 129.99 384 .99 Special Price $ 71.99 227.99 437.99 D 0920R 04ct. D 0941R 1/8ct. D 0943R 1/4ct. $ 39.99 129.99 2 44.99 Buttercup Diamond Earrings and Matching Pendant -y* Retail Price Special Price $ 7 1 .9 9 102.99 225.99 687.99 $ 39.99 59.99 129.99 384.99 V»» D0969R D 0974R D 0973R D2998R P 06ct. 1/1 Oct 1/4ct. 1/2ct. Special Price D 0970R .04ct. D0875R 1/8ct. D0876R 1/4ct. $ 7 1 .9 9 227.99 437.99 $ 39.99 129.99 244.99 -A » ii ■# A dvertising Features C o ., Inc. Solitaire Diamond Earrings Box 3750 8450 Hickman Road, Su ite 7 Des Moines, Iowa50322 name •# D 209 1R .06 ct. D 2042R 1/1 Oct. D 2 0 4 4 R 1 /4 c t. D 2863R 1/2ct. street $ 39.99 $ 59.99 $1 29.99 $384.99 Solitaire Diamond Pendant _____ Y e llo w ______ White D 0920R 04ct. _____ Yellow ______White D 0941R 1/8ct. _____ Y e llo w ______ White D 0943R 1/4ct. »*- > 1 A Please _____ Y e llo w _______ White _____ Y e llo w _______White _____ Yellow ______White _____ Yellow ______White $ 39.99 $129.99 $244.99 Buttercup Diamond Earrings city state •-V' https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis zip _____ Yellow ______White _____ Yellow ______White _____ Yellow ______White _____ Y e llo w ______ White D 0969R D 0974R D 0973R D 2998R 06ct. 1/10ct. 1/4ct. 1/2ct. $ 39.99 $ 59.99 $129.99 $384.99 Buttercup Diamond Pendant _____ Yellow _____ White D 0970R 04ct. _____ Yellow ____White D 0875R 1/8ct. $ 39.99 $129.99 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NOm iM CTERN Oldest Financial Journal Serving The Central and Western States 306 Fifteenth Street DES MOINES, IOWA 50309 CONFIDENTIAL SURVEY Officer Salaries and Income October 1980 1. Please list figures for full-time, active officers only. Also, please indicate top three officers by executive responsibility with 1, 2 or 3 after their names, then list the age of each in final column at right: ANNUAL BASE SALARY EXEC RESPON. $ Chairman BONUSAND/OR DEFERRED COMP INSURANCE, REAL ESTATE & OTHER EARNINGS $ $ $ TOTAL AGE OF TOP 3 EXECS President Exec. V.P. Sr. V.P. Cashier Vice Pres. Vice Pres. Vice Pres. Ag Repr. Asst. V.P. Asst. V.P. Asst. Cash. Asst. Cash. Asst. Cash. Asst. Cash. Trust Off. Asst. T.O. Auditor 2. What percent of your total bank expenses is your total compensation for all employes in your bank? (Includes all fringes and Social Security.) Approxim ately_____ % 5. Does your bank have a profit-sharing plan? Y es_____ No Does your bank have a pension plan? Y es_____ No Does your bank have both? Y es_____ No Does your bank have a stock option plan? Y es_____ No Does your bank offer these insurance plans to officers? If “ Yes,” what percentage does the bank pay? Yes No % Pd. by Bank Medical____________________________ Liability______ Dental Yes No % Pd. by Bank Life_____________________________ Travel Accident____________________ Vision 4. Fees paid for board of directors meetings: Outside Directors $ _____________monthly or $ _____________ quarterly or $ _____________ annually Inside Directors $ _____________monthly or $ _____________ quarterly or $ _____________ annually Is attendance mandatory to collect the director’s fee? Y es_____ N o _____ Is extra compensation paid for directors’ committee meetings? (Please check below) Outside Directors Y e s______ N o _____ Amount per meeting $ ____________ Inside Directors Y e s______ N o _____ Amount per meeting $ ____________ https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (TURN TO BACK OF PAGE, PLEASE) 5. What is the total number of your staff, including officers and ail employes? _________total staff members 6. What is your paid vacation policy?(Please fill in appropriate spaces.) _____ week(s) after 1 year 3 weeks a fte r_____ years 2 weeks a fte r_____ years 4 weeks a fte r_____ years 5 weeks a fte r_____ years Other (Please specify) f- * 7. Please list any comments you care to make about salaries and total compensation in your bank or in banking or business in general: Your S tate_________ Population of your to w n _________ Deposits of your bank $ ____________________ NOTE: Please have this form completed and returned by only one person from your bank to avoid duplication and to insure accuracy of this survey. PLEASE RETURN TO NORTHWESTERN BANKER, 306 15th STREET, DES MOINES, IOWA 50309. Supplement to Northwestern Banker Newsletter 10-6-80 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis V A ♦ i A 3 155 CALL ON THE “PERFORM ANCE TEAM w/jere comm on transactions are handled uncommonly well. rf FIRST NATIONAL LI NCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C 4 * F 4 * BUFFALO: The First National Bank is ready to break ground for the construction of its new drive-in banking facility. GREEN RIVER: Gary Arehart has been appointed as vice president of the First National Bank. LANDER: Employes at the new Yellowstone bank are preparing for a planned October 6 opening at a temporary office. ! .*•> i.,/’ •it officer. Mr. Evans also has been elected a director of the bank. M INNEAPOLIS: Charles M. Carl son, vice president and director of marketing at F&M Savings Bank of Minneapolis, was elected 1980-81 president of the Advertising Fed eration of Minnesota. North Dakota News ST. PAUL: A. William Sands Jr., president of Western State Bank, has announced the promotion of Lynda M. Carver to the position of real estate loan officer. FARGO: Dakota Bank in Fargo will be assisted in building a $16 million complex downtown to house new bank facilities and other offices^ the city commission agreed at a special meeting recently. ST. PAUL: Melvin E. Brandes and John W. Lambert have been elected to the board of directors of the Northwestern National Bank, it was announced by Robert S. Branham, president. FARGO: George W. Schwartz, president of First National Bank, announced the appointment of Elbe Sexton, currently vice president and branch manager, to vice president and chief operation officer. Minnesota News HANSKA: Richard T. Rodenburg has replaced Robert J. Berens as a director of the State Bank. Mr. Berens served as a director for 17 years. HINCKLEY: Robert A. Nelson died of cancer. His banking career began in 1924 with Farmers & Mer chants State Bank. He retired from Farmers & Merchants in 1967. MINNEAPOLIS: Gregory L. Bohnert and Alan R. Geiwitz have been promoted to vice president, com mercial loans, at Northwestern Bank Southwest. A ■ MINNEAPOLIS: The Federal Re serve Bank of Minneapolis approved applications from two firms to be come bank holding companies by acquiring existing banks. The firms are Jasper Investment Co. Inc., which will control Jasper State Bank, and Bankshares of Hawley Inc., which will acquire the State Bank of Hawley. MINNEAPOLIS: First Bank Min neapolis announced the election of D. H. Ankeny Jr. to chairman and -W Dennis E. Evans to president. Mr. Ankeny continues as chief executive https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis South Dakota News October 9-10 are the dates for the South Dakota Bankers Association Instalment Credit Conference at the Sheraton Motor Inn, Aberdeen. Following is the program. Thursday, October 9 A.M . 9:30 Registration 10:15 Welcome by Jeff Solum, may or of Aberdeen Conference briefing by George Smith, chairman, instalment loan committee, and execuexecutive vice president and cashier, Commercial State Bank, Wagner. 10:30 “ Secured Creditors in Bank ruptcy” by Vance Goldammer, attorney, Boyce, Mur phy, McDowell & Greenfield, Sioux Falls Noon Luncheon P.M. 1:15 “ Retail Banking in the 80’s as Perceived Through Manage ment’s Eyes” by H.J. Wogslend, president, First Bank, Edina, Minn. 2:30 Break 2:45 “ Auto Industry in the New Decade” by Jerry Wheeler, Auto Dealers Association 4:00 Adjourn 5:00 Social Hour 6:00 Banquet. Entertainment by The Aberdeen Elks Chorus Friday, October 10 A.M . 9:00 “ New Interpretation of the FTC Repeal of the Holder and Due Course Doctrine” by William N. Koster, vice presi dent, assistant secretary and associate general counsel, First Bank System, Inc., Minneapolis, Minn. 10:15 Break 10:30 “ Instalment Lending Compli ance” Panel: Don Anderson, compliance officer, North western National Bank, Sioux Falls; Sydney L. Jensen, doc umentations specialist, Northwest Bancorporation, Minneapolis, Minn., and Sharon Stevenson, compli ance officer, First National Bank of the Black Hills, Rapid City Noon Adjourn PIERRE: Dennis M. Fargen has been elected executive vice presi dent of First National Bank, Presi dent Gene Hawk has announced. Gary Stevenson Your Man on the First Team. J GARY STEVENSON Vice President 712/277-1500 First National Bank in Sioux City • A ‘BANKS OF IOWA’ BANK 4 Montana News HELENA: The Montana Bankers Association is sponsoring a one-day seminar covering I R A ’s Keoughs, and how they have changed in the past year. A comprehensive explan ation of up-dated information on these important programs will be given, enabling banks to comply with the requirements of the 1RS. W HITE SULPHER SPRINGS: Timothy E. Barth has been elected assistant vice president of First National Bank. He is the manager of the instalment loan department. SERVING PROFESSIONALLY Banking,Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 _______ Des Moines, Iowa 50309_______ A*’ ^ PARTIAL LIST OF AVAILABLE APPLICANTS INVESTMENT— BA with very high GPA and experi P ence as a full service broker. Wants a spot in invest ments. $12,000 LOAN OFFICER— Graduate of ag banking school with experience as teller/bookkeeper. Good person for trainee position. $10,500 $40 million bank seeking experienced agricultural lending officer. Proven ability to work effectively with people and demonstrated the ability to manage a suc cessful loan portfolio. Submit resume, with salary re quirements, to Earl Curtis, President, Clarke County State Bank, Osceola, IA50213._________________ (PA) Management Position and Bank Operations. South east Iowa bank. Salary commensurate with experi ence; excellent benefits and opportunity. Send resum etofileLB G , c /o Northwestern Banker. (PA) Bank President. Medium-sized bank located near Twin Cities. Send resume to file LBD, c /o Northwestern Banker.___________________________________(PA) LOAN OFFICER— Immediate opening for an officer with experience in agricultural and commercial loans. Send resume to J.H. Hanson, The Security State Bank, Box1291, Poison, MT59860. (PA) Loan Officer— Central Illinois bank seeking individual for lending responsibilities, primarily consumer and ag lending. Would be part of management team. Oper ations experience helpful, but not necessary. Send resume and salary requirements to file KBZ, c /o Northwestern Banker.________________________ (PA) POSITIONS AVAILABLE Operations Officer with 3-5 years experience wanted X LENDING— Started as teller and has worked up to senior loan officer. Pays attention to detail and gets the job done. $14,500 LOAN OFFICER— BA in finance and 3 + years as a bank examiner. Evaluates both loans and operations. Will consider lending or operations. $16,000 I! CREDIT CARD MANAGER— Skilled in all areas of credit cards. Service, accounting and collections. Has supervisory experience. An expert in setting up private label systems to fund merchants accounts receiv ables. $20,000 A WA*] AG LENDER— BA in ag business, made the dean’s list; 2 1/2 years experience includes analyzing loans, managing farms, soliciting new business and making farm calls. $17,500 COMMERCIAL LENDER— Certified commercial lend “H» er. Heavy in lending, analysis and collections. Exper ience with six figure loans and can develop new busi ness. $25,000 VP— Currently vice president with $50 + mm bank. Solid in tending, credit and operations. Responsible for banks conformity to state and federal laws. $28,000 FOR MORE INFORMATION RESPOND IN CONFIDENCE TO: by community bank in Colorado ski resort area. ■¿Jt o LcIe.x an iociatzi Bank Consultants Specializing in Bank Acquisitions 515-232-0814 405 Main Ames. Iowa 50010 P.0 Box 450 D o nald E. H o lder, Principal W AN T ADS Rates 50 cents per word per insertion. Ad $2 for file numbers. Identity of file number advertisers cannot be revealed. Payment in advance, please. NORTHWESTERN BANKER 306-15th St., Des Moines, Iowa 50309 POSITION WANTED Write file LBH, c /o Northwestern Banker._______ (PW) CEO with solid lending and administrative back ground.......................................................................$35,000 SeniorVP, commercial loans............................... $30,000 Commercial Loan Officer ................................$20,000 Instalment Loan O fficer....................................$22,000 Loan Officer with insurance license................... $23,000 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, IA 50309. Phone (515) 244-8163. Employer pays fee._______(PW) Experienced Commercial lender; Robt. Morris and formal bank training. Ten years in Agri-business credit, production loans and real estate. Central States Grad School of Banking. Resume and refer ences on request. Write file LBE, c /o Northwestern Banker.________________________ '_____________ (PW) FOR SALE Lease • Rent • Buy Please call for details: General Bank Equipment & Systems, Inc. 13312 Giles Road Omaha, Nebaska68138 Phone: (402) 895-6200 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AG BANKING CAREERS AG LENDING REP. . .I o w a .............................. $20,000 ......................$20,000 ................. $16,000 Since 1968, banks and other ag-related employers have been paying us to find the personnel they need. SCjriCAREERS, INC. mm agricultural personnel recruiters 515-394-3145_______________ New Hampton, IA 50659 POSITIONS AVAILABLE position available for Individual with ability to oversee operations, personnel and marketing........................35K TRUST HEAD— Suburban bank of $60MM with ex cellent growth potential. Prefer law degree and heavy personal trust experience.............................................30K INSTALLMENT CONTROLLER— Full responsibility for all accounting functions, reports and investments in medium size Iowa bank. Preferaccounting orfinance degree. 25K DickBuenneke 3737 Woodland Ave. Executive Suite 120 West Des Moines, Iow a50265 ;*■ k» V INSTALLMENT LOAN— Junior position available in medium size Iowa community. Prefer one to two years experience including some exposure to indirect financing......................................................................... 15K 12’x40’ mobile home converted for use as temporary banking facility. Night drop and drive-up window in stalled; good teller counter; furnace with central air; available immediately. ALSO, 6’x9’ remote drive-up building with heat and air conditioning. Call (319) 291 -5429 or (319) 291 -5468._____________________ (FS) — +- ADMINISTRATIVE OFFICER— Senior management Console Addressograph 904, with numerous plates. Contact Lynn Lessman at (402) 286-4545.________ (FS) Call 515-223-1044 Ste* For more information, give Linda (our banking spec ialist) a call today. AGRI LOAN— Major Nebraska bank seeks an ag Homer Jensen Jp|■ AG LOAN REP. . .Iowa .................................... $20,000 NCR 41-0015 six pocket proof machine; has been under continuous service contract. Contact Lynn Lessman at (402) 286-4545._____________________(FS) Independent Management Services Specializing in Bank Acquisitions By Independent Investors No Broker Fees Á; VICE PRESIDENT. . .Minnesota ......................$20,000 CREDIT MANAGER. . .Wisconsin BANKERS A VAILABLE +' ALL FEES COMPANY PAID FA R M /A G FINANCE. . .Illinois CEO wanted fo r$ 4 1/2 million bank in northeast Iowa. Inc 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 west Iowa. Write or call Malcolm Freeland, Freeland Financial Service, Inc., 306 - 15th Street, Des Moines, IA 50309. Phone (515) 244-8163. Employer pays fee._______(PA) rv , ROBERT HALF of iowa. Second Person wanted by community bank in north Ag Lending O fficers......................................... $22,000 Portable Modular Bank Building Bank Division CPA or bank auditor degree with banking experience wanted by $45 million Iowa bank. specialist for their correspondent department. Ex cellent benefits and opportunity................................ 28K LOAN— Excellent opportunity in northern Minnesota bank. Handle all installments with chance to advance as bank grows................... 16K AG LENDER— Rural southern Missouri bank affiliated with major holding company. Prefer ag degree and 3-5 years ag lending experience........................................ 23K To inquire about a position please forward resume and salary history in confidence to: TOM HAGAN & ASSOCIATES OF KANSAS CITY P.O. Box 12346 / 2024 Swift North Kansas City, Missouri 64116 _______________ Phone (816) 474-6874______________ > Ü +.
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