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® Vol.10No.21 Des Moines, Iowa September 14,1981 11 Bank Associations Organize organization of the O FFICIAL Mid-America B ankers Service ® * ® ^ ^ ^ * ^ ^ • • Co. was accomp lished September 3 when 11 state banker associations met in Kan sas City to for malize a plan they had been discussing several months. The 11 origin al incorporating R.E. QANDRUD banker associations are Michigan, Wisconsin, Illinois, Iowa, Minnesota, North Dakota, South Dakota, Nebraska, Kansas, Oklahoma and Arkansas. Texas was one of the earlier interested associations but decided a short time ago to withdraw. Arkansas then applied to replace it. The Missouri Association is taking up the M ABS membership issue at its state board meeting September 27. Colorado has expressed an interest but has not had a formal discussion at the board level. It is understood that M ABS membership may be limited to 12 state associations. The first order of business was election of officers to guide M ABS in its initial plans to offer services to member banks of the 11 state associations. Richard E. Gandrud, immediate past president of the Minnesota Bankers Association and president of the Pope County State Bank, Glenwood, was elected chair man. Named vice chairman is W il liam H. Crawford, president of the Oklahoma Bankers Association and president of First National Bank of Frederick. Acting secretary-treasurer is Neil Milner, executive vice president of the Iowa Bankers Association, Des Moines. As reported in the September Northwester Banker, M ABS study groups have undertaken for the past several months four Task Force projects: A bankers Money Market Fund, an insurance company, an ag credit corporation, and a secondary mortgage company. First priority was give to the MMF and at the Kansas City meeting the participa ting state association officials voted to accept the Task Force findings on the MMF study, and directed the Task Force to work with Touche Ross Co. in determining which of the last two selected firms they should go with on the MMF. The two finalist firms are Federated Investors Inc. of Pittsburgh and Fidelity Management Corp. of Boston. Each state association has an equal ownership in M ABS, and each bank within the associations will be entitled to use whatever services they choose from those developed by MABS. Banks choosing to offer customers the MMF service, for example, would have the opportunity to compete with non-banking opera tions, providing a typical tool with which to compete with brokerage houses. The individual bank would accommodate the customer’s need for an MMF through the firm selected by M ABS. The banks then could bid to have these funds flow back to them at the competitive market rates. The intent, it is stated, preferably into the regions from which the money comes so that loan money will be available to sustain those regions. Thus, the bank has the advantage of providing the MMF service to its customers on a direct basis, and the bank in need of funds has the advantage of bidding from a favorable source to get those funds back at a competitive rate. A bank could make arrangements with NOW account holders, for example, to funnel all funds above a designated maximum NOW limit into the MM F; then, if the NOW account dropped and funds were required to meet the minimum, all or part of the MMF could be decreased to keep the NOW at the required minimum. In this way, a customer’s excess funds would achieve maximum return. It is felt that if the Task Force on ag credit can achieve comparable success it will help banks immeasur ably in their effort to finance the total ag business. The effort will be to work through the FICBs, preferably, or find an alternative source on a group basis to help commercial banks compete for the funds needed to C A L L O N T H E “P E R F O R M A N C E T E A M ” where common transactions are handed uncommonly well. # https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis »■■Hill \ FIR5TNATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. p ir s t in Iowa, by putting Iowa first. Bob Buenneke IO W A . nesjvKHnes M » N A TIO N A L B A N K Member FDIC finance agriculture. The insurance Task Force feels there are potential savings to individual banks through the joint effort in the insurance field. This service could offer employe benefits and other insurance packages purchased by banks, all at major savings through the association route. This has been demonstrated, it was pointed out, by the success of Iowa Bankers Insurance & Services, for example. The insurance company, ag corporation and secondary mortgage company Task Forces are expected to make reports at meetings in the near future. □ Iowa News A seminar titled “ Pathways to Productivity” will feature NCR’s September 23 at the Hotel Savery in Des Moines. The seminar will be held from 9:00 a.m. to 4:30 p.m. and will discuss the 1-9000 Series of interactive systems and NCR’s interactive software. CENTER POINT: Karen K. Imhoff has been promoted to vice president and cashier of the Iowa State Bank & Trust Co., according to William R. Bernau, president. Mrs. Imhoff, previously cashier, was also appoin- An Affiliate of Northwest Bancorporation Banco Call (515) 245-3131 or toll-free (800) 362-2514 ted to the board. She joined the bank in 1971. JEFFERSON: Home State Bank is holding an open house Sunday, September 20, from.2:00 to 5:00 p.m. in honor of Gerald Clause, who is retiring October 1. Mr. Clause, currently chairman, has served the bank for 44 years. The open house will be in the main bank lobby in down town Jefferson. AFFILIATED WITH UNITED CENTRAL BANCSHARES. INC. TOLL FREE NUMBER (800) 362-1615 available. This school will be in session November 1-5. The schools are sponsored by the Kansas, Missouri and Nebraska Banking Associations. GRAND ISLAND: Wanda Lacy has been promoted to assistant vice president and department manager at Commercial National Bank & Trust Co. Mrs. Lacy joined the bank LAKE PARK: The Federal Reserve six years ago. Board has approved the application L AVISTA: Robert H. Everett, 43, of First Security Banshares, Inc. to president of the Bank of Nebraska, become a bank holding company by died recently after suffering a heart acquiring Security State Bank here attack. Mr. Everett was vice and Security State Bank in Hartley. president of the First National Bank of Bellevue until he joined the La Nebraska News Vista bank as president in February, A limited number of spaces are still 1980. available in the Intermediate School of Banking to be held at Glenwood NORTH PLATTE: Charles Sand Manor, Overland Park, Kansas, man II has joined the North Platte September 27-October 2. The A d State Bank as assistant vice according to vanced School of Banking to be held president-lending, at the Nebraska Center, University of Richard Colman, president. Nebraska, Lincoln, also has space Minnesota News ONCEPTS LTD "DESIGNERS AND BUILDERS OF FINANCIAL INSTITUTIONS” CORDIALLY INVITES THE IOWA BANKERS TO VISIT OUR 4th ANNUAL HOSPITALITY SUITE FOR COCKTAILS AND HORS D’ OEUVRES TH E M A R R IO T T H O TEL 700 Grand Avenue Des Moines See the Directory Board in the Main Lobby for times and room number. September 21st and 22nd https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OF DES MOINES. N A ■ MEMBER FDIC ■ (SIS) 245-7111 KELLOGG: A t Kellogg-Sully Bank & Trust, Robert Terlouw has been promoted to senior vice president and cashier and Diana Mick was promoted to assistant cashier. OFFICE 1U Don't gam ble when choosing o correspondent bonk. Com e to the professionals. AITK IN : A t Security State Bank, Bob Janzen has been promoted to " O p p o rtu n ity ^ K nocks..." - r Supplement to Northwestern Banker Newsletter 9-14-81 Carleton D. Beh Company Investment Bankers / Financial Consultants 1300 Des Moines Building / Des Moines, Iowa 50309 5 1 5 /2 8 8 -2 15 2 We own and offer subject to prior sale and change in price the following Pledge Orders: AMOUNT MUNICIPALITY YIELD MATURITY $500,000 BURLINGTON, IOWA Sewer Revenue Pledge Orders Interest: 3-1 and 9-1 10.50% 9-1-82 $400,000 DENISON, IOWA Sewer Revenue Pledge Orders Interest: 6-1 and 12-1 10.50% 9-1-82 $500,000 GLENWOOD, IOWA Sewer Revenue Pledge Orders Interest: 6-1 and 12-1 10.50% 12-1-83 $500,000 KEOKUK, IOWA Water Revenue Pledge Orders Interest: 6-1 and 12-1 10.50% 6-1-82 $200,000 ROLAND, IOWA Electric Revenue Pledge Orders Interest: 6-1 and 12-1 10.50% 12-1-82 $500,000 SANBORN, IOWA Sewer Revenue Pledge Orders Interest: 6-1 and 12-1 10.50% 12-1-82 $500,000 TIPTON, IOWA Electric Revenue Pledge Orders Interest: 6-1 and 12-1 10.50% 6-1-82 $400,000 WAVERLY, IOWA Sewer Revenue Pledge Orders Interest: 6-1 and 12-1 10.50% 6-1-82 $500,000 WEBSTER CITY, IOWA Sewer Revenue Pledge Orders Interest: 6-1 and 12-1 10.50% 6-1-82 IN THE OPINION OF COUNSEL INTEREST ON THESE PLEDGE ORDERS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXATION AND ALL PROPERTY TAXATION IN THE STATE OF IOWA. Pledge Orders are issued in accordance with the provisions of Chapter 384, Code of Iowa, 1981, as amended, to provide funds necessary for the construction of improvements to municipal utilities. In the opinion of counsel, Pledge Orders are subject to the first lien of outstanding debt, if any, and together with such outstanding debt are payable solely and only from the future net revenues of the respective municipal utilities. 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 maturity may or may not still be available or may now be avai table at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Division of Hutton & Company Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis YOUR BANK CAN PRESSURE TEST CENTER Please arrange to show me how the “Life Care Chair” works. 1 1 Please send me additional informa1— I tion on the “Life Care Chair” blood pressure test center. NAME OF OFFICER NAME OF BANK- TITLE OF OFFICER: ADDRESS' n iT V - https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis STATE- ZIP: TELEPHONE: ( ) Supplement to Northwestern Banker Newsletter 9-14-81 ANEWWAYFORYOURBANKTO WMFRENOSANDINFLUENCE PEOPLE The new computerized “Life Care Chair” monitors blood pressure and pulse rate. It is an ideal traffic-builder and public service vehicle for bank image-building. The “Life Care Chair” blood pressure test center is a simple-to-operate pushbutton unit that is: I ■BPi ■ fa ACCURATE CONVENIENT RELIABLE ATTRACTIVE LOW COST SAFE AUTOMATIC MEDICALLY CORRECT And. . . it occupies only 1.1 sq. yd. of floor space! BENEFITS for your BANK: Attracts potential new depositors BENEFITS for your DEPOSITORS: ■ Offers fast, free, convenient blood pressure and pulse readings Enhances your public service image Brings people into the bank on repeat visits Builds a positive feeling about the bank in users’ minds ■ Alerts some people to high blood pressure for the first time ■ Enables those being treated for high blood pressure to get frequent checks on their progress between doctor visits Harmonizes with any bank decor Requires minimal maintenance ■ Makes it easy for people to respond to public service messages to get their blood pressure checked SENDBUSINESSREPLYCARDBELOWFORMORE INFORMATION. Or, telephone Floyd Erickson at (218) 631-3464 today. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Packages 1. Blanket Bond, Director & Officer, AUTGmflTED SVSTEmS Trust E & O 2. Automobiles □F iDWfljne. 3. Single Interest 301 N. Ankeny Blvd., Suite 220 4. Fire & Liability Ankeny, la 50021 515-964-1358 5. Crime (safe deposit, cash letter, etc.) assistant vice president-commercial and real estate loans, and Rick Hutchins has been named to replace Mr. Janzen as the Garrison branch manager. Mr. Janzen joined Security State in 1969. : Michael J. Kelley has joined the Golden Valley Bank as senior vice president in charge of all lending operations. He has 16 years of financial experience, including 11 years at National City Bank of Minneaolis. MINNEAPOLIS: Twenty-four Northwestern Banks in the Twin Cities have officially withdrawn their offer of a 30 percent annual interest rate bonus to customers signing up early for All Savers Certificates. The Banco affiliates had previously announced a temporary suspension of their program following the recent Internal Revenue Service statement questioning the tax status of certificates linked to high-interest bonus programs. As a result of an opinion issued earlier in the week by the Federal Reserve Board and other regulators, customers may now purchase a 26-week money market certificate and convert those funds on October 1 or later to an All Savers Certificate without any penalty for early withdrawal. M INNEAPOLIS: P. James Sicora has rejoined First Bank Minneapolis as a vice president in the operations group. Mr. Sicora joined the bank in 1957, and transferred to First Bank System, Inc. in 1976. ST. PAUL: Vice presidents Richard L. Shepley and Dale S. Hanson have Call our Bond Department For up-to-the-minute, accurate information I BANKERS PARTICIPATING I LeasePlan.Inc. 545 - 31st Street Des Moines. Iowa 50312 R. L. “ DICK” SELLON • P. D. “ DUANE” DEVAULT been named deputy group heads for wholesale banking divisions at First Bank St. Paul. Promoted to vice president are John D. Gilpin and Dennis K. Dingman. ST. PAUL: American National Bank & Trust Co. has promoted Walter A. Opal to vice president and trust officer. Mr. Opal was previously assistant vice president of Valley Bank in Appleton, Wis. Elected assistant vice presidents are Barbara W. Schneider and Elizabeth L. Maine. ASK STAN FARMER to make MNB work for you. Toll free 1- 800 - 332-5991 Merchants dfifc National Bank 151 Member F.D.I.C. Illinois News ROCK C IT Y : Dale Hover has joined Montana News the Rock City Bank as executive vice The Montana Bankers Association president. He was previously an 1981 Consumer Lending Conference assistant vice president of the will be held September 16, 17 and 18 National Bank & Trust Co. in at the Outlaw Inn in Kalispell. A golf Chariton, Iowa. outing at the Buffalo Hills course will begin at 1 p.m. Wednesday. South Dakota News Registration will start at 3 p.m. A SIOUX FALLS: Sid Miedema has reception will be held Wednesday been elected assistant vice president- evening beginning at 7:30 p.m. The audit at Western Bank. He joined the conference will open at 9 a.m., bank last year as an auditor after September 17 with remarks by working 10 years as an FDIC Robert L. Reiquam, M BA president. examiner in Minneapolis. Topics will include “ Regulation Z ,” “ Problem Credits,” “ Basics of Wyoming News Consumer Lending,” “ Asset and CHEYENNE: Robert R. Scott has Liability Management” and “ UCC joined the American National Bank Lien Filing and Perfection.” The as vice president. Mr. Scott is a conference will adjourn 12:00 noon September 18. retired Air Force brigadier general. To m Steffens Vice President 234-2462 John Henderson Vice President 234-2463 Tony Paugoulatos Jim McLaughlin Rusty Reese Asst. Vice President Asst.Vice President Bond O ffic e r 234-2647 234-2673 234-2674 «Si Commerce Bank of Kansascity hm,.„„i«.,1™,. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA BANK Member FDIC ' Dave Wittenborn Bond Representative 234-2691 (816) 234-2000 SERVING PROFESSIONALLY Banking, Financial & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 714 Central National Bldg. 515-283-2545 Des Moines, Iowa 50309 WANT ADS Rates are $5.00 per Iine per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. NORTHWESTERN BANKER 306-15th Street Des Moines, Iowa 50309 Phone 515/244-8163 ECONOM Y Time-Temperature Solid State Display One Year Guarantee 30” x96” Complete Sign only $2895.00 UNITED SIGNS, INC. (308)384-0111 321 N. Eddy St. P.O. Box 263 Grand Island, NE68802 UPDATE YOUR ALARMS Special on 35mm auto cameras. POSITION AVAILABLE P A R T IA L L IS T O F A V A IL A B L E A P P L IC A N T S N ow available P O S IT IO N S A V A IL A B L E Check with us first BEFORE making a purchase. Ag Lender for progressive Nebraska community bank ...........................................................................$18,000 Marketing Officer for banks in central and eastern Io w a ........................................................... Salary Open Ag Lender for north central Iowa b a n k .............$20,000 SECURITY SYSTEMS, INC. 3920 Delaware Des Moines, 1A 50316 [515)265-1161 EVP -1 2 yrs exp, hvy operations. $30,000 TRUST OFFICER - JD, 5 yrs trust exp. $28,000 SR LOAN OFFICER - BA in finance, well rounded lending exp. $26,000 BRANCH MGR - 4 yrs hvy exp in installment lending. $20,000 INSTALLMENT LENDER - 2Vz yrs lending exp, some supv. $18,000 TRUST -12 yrs exp, hvy operations. $28,000 P A R T IA L L IS T O F A V A IL A B L E P O S IT IO N S AG LENDER - Come in as #3 man. $25,000 INSTALLMENT - 3 yrs banking exp preferred. $17,000 SR COMMC’L LENDER -1 0 yrs exp, exposure to ag. $30,000 TRUSTOFFICER - Need Generalist bkgd. Salary nego #2 MAN - Must have hvy ag bkgd. $25,000 COMMC’L LENDER-2 yrs commc’l lending in Ig bank. $26,000 ALL FEES COMPANY PAID. FOR FURTHER INFORMATION RESPOND IN CONFIDENCETO: Installment Officer for western Iowa bank Salary Open Insurance Agent for western Iowa b a n k .. .Salary open Ag Lender for northwest Iowa bank...................$22,000 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, IA 50309. Phone 515/282-6462. Employer pays fee.___________________________________ Immediate opening in $11 m illion bank situated in northeastern part of Nebraska. Loan Officer for 2nd position. Send resum etoFile OBB, c /o Northwestern Banker.___________________________________ (PA) WE NEED aggressive, high performance BANK PRESIDENTS. Send resume to BSC, Inc., 2121 North Webb Road#200, Grand Island, Nebraska68801. (PA) Opening fo ra LOAN OFFICER In a $12 m illion north central bank. Duties w ill include all loans and bank reports. Send resume and salary requirements to file OBG, c /o Northwestern Banker.______________ (PA) Opening for an aggressive person to manage an Insurance department for a northwest Iowa county seat bank agency. Life Insurance licenses required. Contact: Russell Spearman, President, Citizens Savings Bank, Sac City, Iowa 50583. Phone 712/662-4755._________ (PA) Opportunity for young lending officer to join management team of $18 m illion northwestern Illinois Bank. Duties will Include installment and commercial lending and business development. Excellent community; good growth potential. Send resume and salary requirements to file OBA, c /o Northwestern Banker.___________________________________ (PA) $32 m illion central Iowa bank seeking aggressive individual to fill agricultural lending position. Two to three years loan experience required. Some operations experience helpful, but not required. Located in small town. Salary open. Write file OBI, c l o Northwestern Banker.______________ (PA) FOR SALE OR LEASE Twenty (20) NCR152-70 teller machines. Four(4) NCR 775 single pocket proof machines. Three (3) NCR 775 twelve (12) pocket proof machines. Call 512-250-0794 for more information.____________________ (FSorL) PERMANENT OR TEMPORARY - Sale or lease 219/925-0215. (FS) IBM proof machine - model 1260 with eight automatic and four manual pockets. Always under maintenance agreement. Price$750. Phone515/386-3141. (FS) New 24” x24” x24” single door chests. UL approved, with T L 15 rating, with one adjustable shelf, 3-tumbler combination lock. $1,750 f.o.b. dock. Delivery and installation quoted upon request. Only seven left. Phone General Bank Equipment Systems, Inc. 402/453-3000._____________________________ (FS) WALK-UP WINDOWS - Diebold 115-72 Deluxe; 13 /16” bullet resistive glass; single drawer; four feet wide glass. Available immediately. Reasonable Offer. Ph one A rt at 312 / 257-2241.__________________ ^FS) P O S IT IO N S W A N T E D A g Banking Specialists SINCE 1968 When it comes to agriculture, banking and personnel. . . go to the specialists — go to AGRIcareers, Inc. Progressive bankers pay us to find tbe people they need. Ag Loan O fficer.................IA . $15-20,000 Sales & Mktg. Rep . . . FL/ GA . $20-25,000 C E O .................................K S . $30-35,000 Ag Loan O ffic e r..............MN . $15-20,000 Ag Loan Officer/ Insurance IA . $15-20,000 2 Ag Loan O ffic e rs ............IA . $16-23,000 Ask the ag banking specialists what’s available without cost or obligation. NEW HAMPTON. IA 50659 MASSENA IA 50853 1 (515) 394-3145 (7121 779 3744 aqnc4Rras,iNC.y " THE ORIGINAL AGRICULTURAL RECRUITER J / Ag Lender, Iowa State grad, currently employed, seeks central Iowa p o s itio n .............................. $23,000 Operations officer with multi-bank holding company wants to join community b a n k ........................ $23,000 Bank Division OO ROBER1 ® of Iowa, Inc. 317 6th Ave. Des Moines, IA 50309 (515) 244-4414 A L L F E E S C O M P A N Y P A ID (WTB) ELECTRIC COIN COUNTER. Security Savings Bank, Scranton, IA 51462. Phone 712/652-3311, John Fey. ________________________________________(WTB) P O S IT IO N S A V A I L A B L E CORRESPONDENT OFFICER - travel Kansas and Missouri for affiliate of major midwestern holding company. Preferag background. $27,000 INSTALMENT LOAN - head dept, for $30MM Iowa bank. Must like rural communities and have 5 yrs consumer loan experience. $25,000 INSURANCE AGENT - rural Iowa bank with established agency desires fully licensed agent with at least 2 yrs. experience. Some bank duties. $Open SENIOR LENDING OFFICER - independent bank located in western state. Supervise entire lending function and establish policy. $28,000 Ag Lender located In Illinois wants to relocate $20,000 AGRI-LOAN - large southwestern bank needs senior ag officer to coordinate and review credits of branches. Degree and major bank experience required. $40,000 OPERATIONS - $50MM bank in major resort area. Position requires operational expert with a record of solving problems. $28,000 Write or call Malcolm Freeland, Freeland Financial Service, Inc., 246 Insurance Exchange Bldg., Des Moines, la. 50309. Phone 515/282-6462 for all your personnel requirements. Employer pays fee.______ COMMERCIAL LOAN - suburban bank of $100MM wants to expand staff. Primary duties Involve comm’l loans with secondary responsibility for comm’l real estate credits. $30,000 Iowa State grad with basic banking exp. seeks job in GreaterTwin Cities area.................................... $17,000 Second Officer In Wyoming bank wants position leading to CEO in Mountain S tates...................$30,000 CORRESPON DEN T B A N K E R Ag lending experience a must. Experience in commercial lending, bank operations, or correspondent banking desirable. The success ful candidate will be professional, self-motiva ted and exhibit strong inter-personal skills. Compensation and benefit package commen surate with experience. Please send resume and salary history in confidence to: Mr. Jay Lowrey, Director of Personnel, Bankers Trust Company, Seventh and Locust, Des Moines, IA 50304. (PA) SECOND OFFICER - rural Nebraska bank with majority of portfolio in ag credits. Excellent opportunity to assume number one position. $30,000 All inquiries confidential. Salary history and resume’ requested. T O M H A G A N & A S S O C IA T E S o f Kansas City P.O. Box 12346,2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry S incel 970” Yol. 10 No. 21 Northwestern Banker Newsletter [USPS 873-300] is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscriptions $1.00 per copy, $15.00 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
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