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An exclusive
N o rthw estern B anker

Federal Reserve Bank of St. Louis



He's Stan Farmer, your MNB Correspondent banker.
MNB's Stan Farmer means business — more
business for you and your bank. He can help
you say "yes" to your valuable bank
customers when their financial need exceeds
your ability to fulfill it.
Stan has the knowledge and experience to
work with you and your customer on
agricultural loans, or commercial and real
estate loans. He will also consult with you on
your personal plans for bank ownership.
He means business when it comes to
assisting with your day-to-day cash
management needs, as well. In addition to
providing standard services — such as federal
fund transactions, short-term investments and
check clearing — Stan and our MNB
Federal Reserve Bank of St. Louis

Correspondent banking staff can help you
deal with critical cash transfer deadlines,
complicated collection requirements,
international transactions and difficult check
clearing problems. Additionally, Stan will
work with you to provide operational
innovations that prepare your bank for any
service need.
At MNB, we're dedicated to bringing
together the resources, experience and
services you want in a correspondent bank.
That's MNB's commitment to productivity, so
talk to Stan, soon. When he says he can help
your bank's business grow, he means
business. Call Stan at 319/398-4320 or
1-800-332-5991, toll free, today.

Merchants National Bank 1:1

Cedar Rapids, Iowa 52401

Member F.D.I.C.


A C ommunity
C ommitment
When the officers of Colorado Bank
and Trust, La Junta, Colorado, planned
to rebuild, they were determined to
stay in the downtown area although it
was starting to deteriorate.
'We never even considered leaving,”
says Bob Jones, President. “We had
maintained a strong commitment to
our community for 76 years. . .
through good times and bad . . . and
wanted to respond with a facility that
would help revive the town’s spirit
of growth.
“Bank Building Corporation gave us
exactly the facility we needed. . .
architecturally attractive, inviting and
operationally efficient. It enhanced the
downtown area, inspired confidence
and triggered a new feeling of optimism
in the community.
“We value our place in La Junta and
the long-term customer loyalty we’ve
enjoyed. Our new building is our
commitment to be here. . . at the heart
of our community. . . for another

For help with your facility. . . call
Spalding 1>800 -32 5-95 73 .

' -, ■


The old bank is remembered with
a classic column that now
supports the new facility’s sign.


i l l s i . ....

Meeting the needs
of the community
you serve . . . b y design
Federal Reserve Bank of St. Louis

1130 Hampton Avenue
St. Louis, MO 63139





SEPTEMBER 1984 • 91st Year • No. 1452

“Editorial States the Facts


t t t .


Behind this idyllic scene lies turmoil for many midwestern farmers today, and they hope
the 1985 Farm Bill will bring some relief and long-term hope. Photos on cover and page
27 are courtesy of the Iowa Development Commission.



“ W h a t should be in the farm bill?”

Several leading ag bankers and ag college professors offer their thoughts on
what ag legislation should encompass


G uide to A/L m a n a g e m e n t— Part I

First in a several part series written by experienced community bank executives
for community bank staffs

“Very, Very Refreshing
98th Convention Program
Spouse’s Program Outlined
Interview with IBA President Al Maser
Group Chairmen Report Area Conditions
You Will See Them at the Iowa Convention
Des Moines News


Bank Promotions
Corporate News
Twin Cities
South Dakota


North Dakota
Index of Advertisers

“Logic Very Rational

306 15th Street, Des Moines, Iowa 50309

Phone (515) 244-8163

Publisher & E ditor

A ssociate Publisher

A ssociate E ditor


Ben Haller, Jr.

Steve Burch

Becky McBurney

Malcolm K. Freeland

No. 1452 Northwestern Banker (USPS 397-620) is published monthly by the Northwestern
Banker Company, 306 Fifteenth Street, Des Moines, Iowa 50309. Subscription $1.50 per
copy. $18 per year. Second Class postage paid at Des Moines, Iowa and at additional
mailing office. POSTMASTER: Send all address changes to Northwestern Banker, 306
Fifteenth Street, Des Moines, Iowa 50309.
for FRASER Banker, September, 1984
Federal Reserve Bank of St. Louis


“I appreciated very much readiriP
your article about the Continental bail­
“It was very, very refreshing to see a
positive view on FDIC’s role when most
articles that I have seen have emph^
sized the negative aspect as it relates to
other banks.
“Again, congratulations! It was well
W. J. Rickert
Senior Vice President
National Bank of Waterloo
Waterloo, la.



“Your editorial ‘Behind Every Clou^P
in the August 13 edition of the N orth­
western B anker Newsletter states the
facts regarding the advantages of FDIC
insurance very well. With the collapse of
the local office of American Securities #
Loans, we at the First National, and
everyone in the area, are acutely con­
scious of what the lack of adequate in­
surance coverage can mean.
“I believe it is really adequately e \^
dent that the residents of this area are
going to take a severe jolt as a result of
their having been too enthusiastic about
a few points difference in interest rate.
Needless to say, we will be emphasizing
our $100,000 FDIC insurance coveragP
very strongly in our future advertising.
“I always enjoy your Newsletter and
think you do a tremendous job of report­
ing bank news.”
Vernon P. Mouw, President
First National Bank of
Sioux Center, la.


“Just finished reading your “Behina
Every Cloud...” in this week’s Newslet­
ter. I think it is one of the most ‘indepth’
articles I have read on the FDIC in a
long time. Your logic is very rational and
I would hope that all we bankers can e 0
pand on it.
“Keep up your good work on behalf of
the industry.”
Glenn M. Adair, President
Springfield State Bank
Springfield, Nebr.

“A n Excellent Article


“The article you wrote in the Augus®
13, 1984, issue of the N orthwestern

the moon,

o vern ig h t


A t Deluxe, when we make promises, we keep promises. We have 68
distinguished years of company history under our belts to prove it.
We process over 90 million orders a year; in one day, out the next. Our record
of excellence has earned us
the highest customer satis­
faction rating in the industry
Our national sales
force is well trained, the most ^ „T
experienced in the business.
They know the
banking business as well as
the printing
c j business.
And the solutions
they offer are meaningful. If a
packaged solution doesn’t fit
you, they will repackage a
solution thatw il.
Backing up oursales *
force is an extensive and capable staff of customer service representatives. It is
their job to serve your immediate operational needs.They help keep your checking
programs running smoothly, errorfree, and on time.
A t Deluxe, nobody will ever tell you that the check is in the mail.
Unless, it really is.

"We believe we are the Industry leader because o f our commitment
to customer service; service which emphasizes quality products, consistently
prom pt order hand ling and follow-up, and strict customer security. If we fall
to provide total satisfaction, we forfeit our right to the business."
— Eugene R. Olson, Chairman and Chief Executive O fficer

St D E L U X E

C heck Printers, Inc.

The difference between a printer and a partner
Federal Reserve Bank of St. Louis

Federal Reserve Bank of St. Louis




Agriculture has changed
through the years,
and so has Omaha National.

But we haven’t forgotten our roots.
The territory we call home is the center
of America’s agricultural economy. And
our advanced technology and innovation
make America’s ag production capacity
the highest in the world.
Omaha National has kept pace with the
growing needs and innovation in agricul­
ture, making us one of the nation’s top
lenders in the field. We assist correspon­
dent banks in furnishing capital for all
kinds of operations — from row crops to
large feed lots — from corn and hogs
in Iowa, to potatoes in Idaho, to cattle­
feeding in Kansas and Nebraska.
Our officers know as much about live-

stock and crops as they do about
banking. They were raised on farms
and ranches themselves. Their formal
education stressed agriculture as much
as finance. Their understanding of both
fields enables them to work with you in
providing farmers the resources they
need to be fully productive.
Learn how Omaha National can help
your bank serve the interests of
agriculture in your area. Call your
correspondent bank representative at
402-348-6565 or toll free in Nebraska
1-800-642-9305; outside Nebraska

We’re your natural resource for agricultural lending.

Omaha Nahonal
A FirsTier Company
Omaha National Bank
17th & Farnam Streets
Omaha, Nebraska 68102
Member FDIC
Federal Reserve Bank of St. Louis


Weekly Newsletter entitled,
‘Behind Every Cloud...Real Facts,’ was
an excellent article and the best I have
seen in summarizing the various aspects
behind the FDIC/Continental Bank of
Chicago rescue plan. You and your staff
continue to do an excellent job.”
B anker

Ned K. Job, President
Iowa Independent Bankers
President, Iowa State Savings Bank
Knoxville, la.
Ed. Note: In the August N orthwest­
B anker (pg. 8) we featured an exclu­
sive story about the International Asso­
ciation of Hail Insurers meeting hosted
in Fargo, N.D., in late June by James R.
Dawson, president of Dawson Hail In­
surance Co., Fargo. Mr. Dawson is the
only American ever to serve on the
IAH I board of directors. The program,
tours and entertainment were outstand­
ing, reflecting months of planning by
Mr. Dawson and his staff, and that plan­
ning was well recognized by the guest
executives from foreign countries who
wrote warm letters of thanks to Mr.
Dawson on their return home. Mr. Dawern

son wrote this letter as a follow-up to the
formal news story we published last

“Whole Week Ju st Great

Convention Calendar
ABA—American Bankers Association
AIB—American Institute of Banking
BAI — Bank Administration Institute
BMA— Bank Marketing Association
IBAA— Independent Bankers Association
of America
NABW— National Association of Bank
Women, Inc.
RMA— Robert Morris Associates


‘‘The whole week was just great! In
conjunction with all of the other activi­
ties, we had the executive committees of
the Crop Hail Association in Chicago,
the National Crop Insurance Associa­
tion in Colorado Springs and the Ameri­
can Association of Crop Insurers in
Washington, D.C. all hold meetings
here. I serve on all of these executive
committees. In addition, there was a
special soybean committee of 14 people
who were scheduled to meet in Des
Moines and changed their meeting to
Fargo. These meetings brought in about
40 of the top crop insurance leaders from
all over the United States.
‘‘I enclose a copy of a few of the let­
ters we have received. (Jim enclosed let­
ters from Paris, Zurich, London, Phila­
delphia, Hartford and Minneapolis for a
cross-section of the replies.)”
James R. Dawson, President
Dawson Hail Insurance Co.
Fargo, N.D.


Dec. 9-12— BAI ATM/7 + Conference, Sher­
aton, New Orleans, La.

State Conventions & Schools

Sept. 23-25— Independent Bankers of Colo­
rado Annual Convention, Keystone Re­
sort, Keystone.

National Conventions & Schools


Sept. 16-18— IBAA Commercial Loan Work­
shop, Radisson Muehlebach Hotel, Kan­
sas City, Mo.
Sept. 16-19— BMA 69th Annual Convention,
New Orleans Marriott Hotel, New Orleans.
Sept. 16-19—ABA National Conference on
Human Resources, Fairmont Hotel, New
Sept. 26-27— IBAA Spread Analysis and Asset/LiabiIity Management Workshop,
Omaha Marriott, Omaha, Neb.
Oct. 1-4— NABW Annual Convention, Sher­
aton Waikiki, Honolulu, Hawaii.
Oct. 14-16— IBAA Commercial Loan Work­
shop, Stapleton Plaza Hotel, Denver, Colo.
Oct. 18-19— IBAA Region A—Agricultural
Lender Workshop, Des Moines Marriott,
Des Moines, Iowa.
Oct. 20-24—ABA Annual Convention, New
Nov. 4-7— IBAA 26th Seminar/Workshop on
the One Bank Holding Company, The
Sands Hotel, Las Vegas.
Nov. 11-14—ABA National Agricultural
Bankers Conference, Hyatt Regency/
Crown Center, Kansas City, Mo.
Nov. 27-30— BAI Money Transfer Confer­
ence, Hyatt Regency, Chicago, III.

Sept. 19-20— I BA Ag Credit Conference,
Ramada Inn, Champaign.
Sept. 23-25— ICBI Tenth Annual Convention,
Indian Lakes Resort, Bloomingdale.
Sept. 14-Oct. 7— Executive Renewal Week­
ends, Americana Resort, Lake Geneva,
Wis. (See Illinois Section)
Nov. 7&8— IBA Bank Directors Seminars,
Westin Hotel O’Hare, Chicago, on the 7th,
and Holiday Inn East, Springfield, on the
Nov. 28-29— IBA Annual Meeting and Bank
Management Conference, St. Louis Mar­

for FRASER Banker, September, 1984
Federal Reserve Bank of St. Louis


Sept. 16-18— IBA 98th Annual Convention,
Des Moines.
Oct. 23-24—Consumer Lending/Retail Bank­
ing Conference, Des Moines.

Sept. 17-28— MBA District Meetings.
Nov. 15—MBA Personnel Conference, Holi­
day Inn International, Bloomington.
Dec. 5-6— MBA Advanced Security Workshop,
Sheraton Midway, St. Paul.



Sept. 23-28—Schools of Banking Intermed®
ate School, 2nd Session, Rodeway Inn,
Overland Park, Kansas.
Sept. 26-27— NBA Marketing Conference,
Kearney Holiday Inn.
Sept. 26— NBA Area Bankers Dinner, K e a ^
ney Holiday Inn.
Sept. 27— NBA Executive Council Meeting,
Kearney Holiday Inn.
Oct. 10-12— Nebraska Independent Bankers
Association Annual Convention, Midtown
Holiday Inn, Grand Island.
Oct. 14-19—Schools of Banking Advancecr
School, Regency West, Omaha.
Oct. 16-20— NBA Teller/Staff Conferences;
North Platte Holiday Inn, Kearney Ramada
Inn, Lincoln Cornhusker and Norfolk Villa
Nov. 20-21 — NBA Bank Management C on fe r
ence, Kearney Holiday Inn.
Nov. 20— NBA Legislative Dinner, Kearney
Holiday Inn.
North Dakota:


Sept. 19-21 — Independent Community B a n l^
of North Dakota Annual Convention, Kirk­
wood Motor Inn, Bismarck.
Sept. 24— NDBA Northeast Group Meeting,
American Legion Club, Grafton.
Sept. 25— NDBA Northwest Group M e e tin g
Ramada Inn, Minot.
Sept. 26— NDBA Southwest Group Meeting,
Holiday Inn, Dickinson.
Sept. 27— NDBA Southeast Group Meeting,
Eagles Club, Valley City.
Oct. 3-4— NDBA Compliance Seminar, H o |^
day Inn, Jamestown.
Oct. 17— ICBND Bank Directors Seminar,
Bismarck Sheraton Galleria.
South Dakota:

Sept. 17—Group 5 Meeting, Holiday l n ^
Sept. 18—Group 3 Meeting, Holiday Inn,
Sept. 19—Group 1 Meeting, Westward Ho
Country Club, Sioux Falls.
Sept. 20—Group 2 Meeting, Lantern InWf
Sept. 21—Group 4 Meeting, Mobridge
Country Club, Mobridge.
Sept. 26—SDBA Consumer Bankruptcy Re­
form: An Action Plan for Bankers, Kings
Inn Convention Center, Pierre.
Sept. 27—SDBA Consumer Bankruptcy Re­
form: An Action Plan for Bankers, Staurolite Inn, Brookings.
Oct. 11-12—SDBA Instalment Credit and
Retail Banking Conference, Sioux F a l l ^

Sept. 16-18— Independent Bankers of Wis­
consin Annual Convention, Radisson
Hotel, LaCrosse.

Postgraduates Honored at •
Graduate School of Banking
Eighty bank executives from 25
states across the country completed
the postgraduate course of the Gra%
uate School of Banking, held at the
University of Wisconsin-Madison
last month. GSB president Lee E.
Gunderson presented the postgrad­
uate diplomas in ceremonies on th®
University campus.

We turn on a dim e
so you can turn a larger
i t When money is expensive, so is the tronic access to your account for
time funds are idle. T h at’s why so
maximum flexibility. You can get
many banks rely on Northern
a fresh update every 15 minutes
TVust Bank for profit-enhancing,
if necessary—and move money
correspondent services. Our exper­ within hours rather than days.
t i s e in getting funds to work
Add to our sophisticated
quickly and profitably has earned equipment the best in personal
us the reputation of being a pre­
attention and responsiveness, and
miere processor for correspondent you get Northern TVust’s ideal
l^banks. In fact, in independent
combination of quality and effi­
surveys, The Northern TVust
ciency. A dedicated staff of profes­
consistently ranks among the top
sionals assures you personal
three cash m anagem ent providers attention in all transactions.
in the industry.
We’re also ready to assist you
The latest in computer tech­
in handling your investments.
nology assures check collection
And our experienced Bond
and safekeeping th a t’s accurate
D epartm ent representatives
and fast. Our Cashline Balance
are always on hand to provide
Reporting System gives you elec­ knowledgeable advice.
W ith N orthern TVust Bank
behind you, you can count on
better service for your customers.
Federal Reserve Bank of St. Louis

And a better bottom line for your
bank. For more information,
contact John V. N. McClure,
Wee President, Northern TVust
Bank, 50 South LaSalle Street,
Chicago, Illinois 60675. Tfelephone:
(312) 630-6000. Member F.D.I.C.

The more you want
your bank to do,
the more you need
The Northern.



Bank Promotions
ROMOTIONS and other an­
nouncements have been made
by the following banks and banking
Centerre Bank, St. Louis: Alfred
H. Kerth III has been appointed di­
rector of marketing and elected vice
president, according to Clarence C.
Barksdale, chairman and CEO.
Mr. Kerth joined Centerre Bank
in St. Louis in 1977 as manager of
recruiting in the human resources
department. He was elected assis­
tant vice president in 1981, ap­
pointed manager of public relations
and community affairs in 1982 and
appointed manager of advertising,
public relations and community af­
fairs, with overall responsibility for
corporate communications in 1983.
Also announced was the election
of Leslie F. Loewe, chairman and
CEO of Angelica Corporation, to the
board of directors of Centerre Bank.
Cole-Taylor Financial Group
Banks, Chicago: William C. Gutmann has been appointed senior vice
p re sid en t and
Karen A. Frankel has been pro­
moted to direc­
tor of market-

Brainerd, MN
Free-standing display.
Our engineers will custom
design a display to
enhance the architecture
of your building. Color
drawing and quote at no
cost. Call collect or write
today —



Brookings, SD 57006
Ph. 605/692-6145
TOLL FREE 800/843-9879
(exc. AK, HI and SD)

 Banker, September, 1984
Federal Reserve Bank of St. Louis


cently by James J. Carmody, presi­
Mr. Hennessy previously was vice
president, and prior to joining Dro­
vers was an assistant vice p reside^
at First National Bank of Chicago.
Mr. Hennessy is a graduate of DePaul University, where he received a
BS in management.

First National Bank of Chicagm
James K. Suhr, senior vice presi­
dent, has been named head of the
bank’s U.S. Financial Institutions
Group. The midwest financial inst^
tutions and community banking in­
stitutions divisions will report to
him. Those units formerly reported
to E. Neal Trogdon, senior vice pres­
ident, who will concentrate his
tention now on other corporate unit
supervisory duties. Mr. Suhr pre­
viously was head of human re­
sources at the bank and holding
Senior Vice President A.D. Fra­
zier will oversee the human re­
sources department until a succes­
sor is named for that division, and
will continue his present duties
head of the corporate planning de­
Harris Bank, Chicago: Constance G.
m g.
Burke has been elected senior viœ
Mr. Gutmann,
president of Harris Bank.
who will con­
She is head of the private banking
tinue as director
group, responsible for banking ser­
of loan review at
vices to upper-income individuals in­
the five banks,
cluding corporate and other exec^
previously was
vice president. He also served with tives, medical professionals, entre­
Main Bank of Chicago for three preneurs, special investors, attor­
years, General Scientific Corp. for neys and CPAs.
three years and Central National for
Manufacturers Hanover Tru
1 1 years.
New York: Christine
Previously the firms’ marketing
D. Wood have
coordinator, Ms. Frankel will be been elected Richard
responsible for developing, imple­
menting and coordinating the mar­
for tte
keting, advertising and public rela­ bank’s foreign exchange trading
tions programs of Cole-Taylor and international funding upon the re­
its five community banks. Prior to tirement of Thomas J. Devine, se­
joining Cole Taylor, Ms. Frankel nior vice president, at year end.
was project director for B. Angeli & Mrs. Patton joined Manufacturen
Associates, a Chicago-based market­ Hanover in July from Credit Lyon­
ing research organization.
nais’ office in New York, where she
Drovers Bank of Chicago: Thomas headed that bank’s U.S. foreign ex­
J. Hennessy has been appointed se­ change trading and asset and liabili­
nior vice president in the real estate ty managment functions. She h ^
department, it was announced re- been with Credit Lyonnais since


James KSubr

* U.S. Fimnciai Institutions

When you are a corre­
spondent of First Chicago, it
means having access to the
vast resources of a moneycenter bank. It means working
w ith a relationship manager
who guides teams of special­
ists to deliver the products
your bank needs. And it means
a partnership that supports
instead of supplants.
You w on’t find a bank in
the Midwest that’s organized
to deliver its resources
more effectively than
First Chicago. Our

Midwest Financial Institutions
Team offers a full range of
traditional correspondent
services plus specialized credit
and investment banking capa­
bilities. Our Community
Banking Team delivers the full
line of credit and non-credit
services along w ith a strategic
planning model designed fo r
community banks.
Whether you’re a regional bank
holding com­
pany a

bank or a community bank,
when you’re a correspondent
w ith First Chicago, we w on’t
just be working with you—
we’ll be working fo r you.
See how First Teamwork
can w ork fo r you. Call Jim
Suhr at (312) 732-6482.
First Chicago

The First National Bank of Chicago

Thomas M. King
Community Banking



© 1984 The First National Bank of Chicago, Member FD.I.C.
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984


1973. Prior to that, Mrs. Patton had
been a foreign exchange dealer with
Morgan Guaranty Trust Company.
The 37-year-old foreign exchange ex­
pert is a 1969 graduate of Vassar
College, Poughkeepsie, N.Y.
Mr. Wood, 41, a lending officer in
the bank’s special financing division
joined Manufacturers Hanover as a
management trainee in 1969, follow­
ing his graduation from Hobart Col­
lege, Geneva, N.Y., with a bachelor’s
degree in economics. He subsequent­
ly received an MBA degree in fi­
nance from Fordham University.
He joined the special financing di­
vision in November, 1983, shortly
after its creation to bring together
the bank’s expertise in the fields of
venture capital, leveraged buyouts,
and mergers and acquisitions.
Manufacturers Hanover Invest­
ment Corporation, New York: J.
Robert Bloom, Jr. has been named
head of equity investments of the
Investment Corporation. He re­
places Kristin Gamble, who re­
signed to form a new investment
management firm, Flood, Gamble
Mr. Bloom recently joined the in­
vestment management subsidiary of

Manufacturers Hanover Corpora­
tion. He had been an executive vice
president and chief investment of­
ficer at Wertheim Asset Manage­
ment Services Inc., where he was in
charge of asset allocation and over­
all investment strategy.
National Boulevard Bank of Chi­
cago: Richrd T. Schroeder, 41, was
elected president and chief executive
officer of National Boulevard Bank,
effective September 1 , it was an­
nounced by Henry K. Gardner, pres­
ident and CEO of Boulevard Ban­
corp, holding company for the bank.
Mr. Schroeder had been executive
vice president of the bank.



Mr. Gardner also announced that
George J. Butvilas, 38, senior vice
president of the bank, was elected
executive vice president. Mr.

Benefit Your Board
As Well as
Yom Bank
DeferComp™ from IAC Group is
a unique deferred compensation
program that offers valuable
financial benefits to your bank’s
board of directors. And over the life
of the program, the net cost of
DeferComp to your bank is the
same as what you now pay in
current fees.

Get the Facts
Stop by and talk with Walter
and Swede at these upcoming
conventions or call IAC Group

1600 Oak, Kansas City, Missouri 64108 • 800-821-5434

Banker, September, 1984
Federal Reserve Bank of St. Louis

Walter Ross

Independent Bankers
of Wisconsin
September 16,17,18
Michigan Association
of Community Bankers
September 20, 21
Independent Community
Banks in Illinois
September 23, 24, 25


Schroeder, who joined the bank ii^
1967, succeeds Mr. Gardner, who
will devote full time to his increased
responsibilities as president and
CEO of the holding company.
Mr. Schroeder joined the bank a®
a credit analyst in 1967, and in 1979
was promoted to executive vice pres­
ident, assuming responsibility for
the day-to-day operations of Na­
tional Boulevard Bank.
Mr. Butvilas joined National
Boulevard in 1980 as senior vice
United Missouri Bank-Kansas Ci­
ty: Philip Levy has been promotecr
to assistant vice president in the
credit analysis division where he is
an assistant manager. Mr. Levy was
an assistant instructor for the Uni^
versity of Kansas Mathematics De­
partment before joining United Mis­
souri in 1981. He holds a master’s
degree in business administration
from the University of Kansas.
Also announced, J. Robert Loar
has joined the bank as an assistant
vice president in the wire transfer

Sallie Mae Acquires
North Carolina S&L
The Student Loan Marketing A s^
sociation on July 27 announced i®
has acquired a recently chartered
savings and loan association in
Southern Pines, North Carolina.
First Capital Corp., a Savings anc^
Loan Association, a state-charterea
institution which opened July 27,
will specialize in providing educa­
tion-related financial services, in­
cluding new loan plans for graduat®
students nationwide and for teach­
ers in North Carolina.
Sallie Mae said it has acquired all
the capital stock of the association,
which was granted a charter by th ®
North Carolina Savings and Loan
Commission in May, for $3.2 mil­
lion. The corporation intends to pro­
vide a total of $6 million in capital.
Sallie Mae said it had also obtained®
private deposit insurance for First
Capital Corp. from the Financial In­
stitutions Assurance Corporation,
of Raleigh.
“First Capital Corp. will provide®
Sallie Mae with an efficient delivery
vehicle for its existing services and
for a new generation of education-re­
lated financial products and ser­
vices,’’ said Sallie Mae President®
Edward A. Fox.







There are only a handful
of correspondents who can
say they’ve learned the
needs of community banks



And his knowledge is now
channeled into providing
services like fast, efficient
transit operations, bond
and investment services
and bank stock loans. The
same responsiveness he
provided to his bank cus­
tomers is now offered
to you.

Ernie Yake is one of them.



He successfully man­
aged Commerce Bank of
Moberly. And before
that, he headed a suburban Kansas City bank
on the Kansas side.

So give Ernie a call at
234-2483. He knows how
to get it done for you,
because he’s already done
it himself.

Today, Ernie runs the
Correspondent Depart­
ment at Commerce Bank
of Kansas City. Ernie
knows what bankers need.

II'Commerce Bank
£% "W T


of Kansas City


Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984


ROMOTIONS and other an­
nouncements have been made
by the following firms:
Associates Corporation, Dallas
Texas: Harold D. Marshall and
Keith W. Hughes have been named
senior executive vice presidents, two
newly-created senior management
positions, according to Reece A.
Overcash, Jr., chairman and CEO.
Both Mr. Marshall and Mr.
Hughes previously served as execu­
tive vice presidents. Mr. Marshall
will continue as president of Associ­
ates Commercial Corporation, the
commercial finance subsidiary of
The Associates, in addition to this
expanded corporate responsibility.
Mr. Hughes, also president of the
diversified financial services unit,
will have overall responsibility for
both the company’s domestic consu­
mer subsidiaries: Associates Diver­
sified Services, Inc. and Associates
Financial Services Company, Inc.

Collateral Control Corporation,
St. Paul: John K. Cecil has joined
the staff as a marketing representa­
tive for the Chicago/St. Paul region
in Indianapolis, Ind. Mr. Cecil was
graduated from Ball State Univer­
sity in 1981 with a degree in Busi­
ness Administration. Most recently
he was an assistant manager with
American Fletcher National Bank in
Indianapolis, where he was respon­
sible for management and the devel­
opment of new business in commer­
cial and consumer lending.

Daktronics, Inc., Brookings, S.D.:
South Dakota Governor William
Janklow has an­
nounced the ap­
pointment of Dr.
Aelred J. Kurtenbach to the
South D akota
Board of Re­
The Board of
Regents directs
Brandt, Inc., Watertown, Wis.: the public col­ A.J. KURTENBACH
Thomas E. Kozlik has been appointed leges and univer­
sities of the State in their operations
director of mar­
educational programs.
keting for the
Dr. Kurtenbach is the co-founder
firm’s Currency
and president of Daktronics, Inc., a
Equipment Divi­
14 year old high technology indus­
sion, Bensalem,
try in Brookings.
Daktronics is internationally
Mr. Kozlik’s
as a designer, manufacturer
new assignment
of All Sports Scor­
will include the
ing systems time/temperature dis­
direction and co­
play units, animated message dis­
ordination of all
play systems and voting and mes­
th e C u rren cy
Equipment Division’s marketing ac­ sage systems for state legislatures.
tivities. Mr. Kozlik joined Brandt,
Pierre J. Herszdorfer, consultant,
Inc., in 1981 at the corporate level as West Des Moines, Iowa: Pierre
Eastern regional sales manager. Herszdorfer has
Most recently, as Industry Sales e s ta b lis h e d a
Market manager, Mr. Kozlik has consulting prac­
been instrumental in developing new tice specializing
product requirements and penetra­ as an Interna­
ting major accounts.
tional Trade Fi­
Prior to joining Brandt, Inc., he nancial Advisor.
was manager of road machinery He provides as­
sales in the farm equipment division sistance to banks
of Koehring Company, Milwaukee, and their clients
involved in the
Mr. Kozlik graduated from Drake export and/or P- HERSZD0RFER
University in Des Moines, Iowa, in import business. His services cover
1972 with a BS degree in operations from the basic fund transfers to the
and personnel management.
more complicated foreign exchange

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis


exposure, letters of credit, and fi®
nancing of trade as well as all other
international related matters. He
has 25 years experience in interna­
tional banking, and most recently
was vice president and manager o®
the International Banking Depart­
ment of Norwest Bank Des Moines,
Mr. Herszdorfer is active in
Iowa’s international business com®
munity and has appointment to the
Des Moines Foreign Trade Zone
Corp Board, the Iowa District Ex­
port Council, the Governor’s Export
Council, the C.I.R.A.S. Advisorj®
Council, and the Des Moines Area
Community College International
Studies Advisory Board.
Heller International Corporation®
Chicago: A major management reor­
ganization that creates an office of
the chairman and involves six senior
promotions and appointments has
been announced by Norman I®
Blake, Jr., chairman and chief execu­
tive office.
The new office of chairman in­
cludes Mr. Blake as well as Daniel
R. Toll and Maynard I. Wishnei®
both of whom are now vice chairmen
of the corporation.
Mr. Toll also was named chairman
of Walter E. Heller Overseas Corpo­
ration, a leading international fa<®
toring organization with operations
in 19 countries. He has been with
Heller 14 years.
Mr. Wishner also was named
chairman of Walter E. Heller <#
Company and continues as presi­
dent of that subsidiary. He will have
direct responsibility for Heller’s real
estate financing group, commercial
and industrial equipment financing
group and rediscount/consumer fi­
nance division.
Mr. Blake also announced two
major appointments at Heller Inter®
national Corporation—Robert E.
Koe as president, Commercial Fi­
nancial Services Group, and John S.
Struck as executive vice president,
Mr. Koe formerly was vice presi­
dent for commercial equipment fi­
nancing at General Electric Credit
Corporation in Stamford, Conn., and
spent his entire 17-year busines®
career there. At Heller, he will
manage all North American assetbased lending and factoring opera­
Mr. Struck formerly was m anage#
of financial planning and analysis at

; High technology
•has helped us reach
a new low.

Naturally you’d expect the new M onroe
calculator to give you incredibly advanced
features. And it does. After all, it’s a Monroe.
But thanks to high technology, our new M odel
2125 gives you something else that may
come as a surprise. A price so low that you’ll
want to buy more than one.
Now take a look at what you get.
With the enclosed paper roll and a new high
speed printer, the M onroe 2125 is whisper
quiet. And its attractive streamlined design fits
in anywhere.

O f course, the 2125 also comes with
an extensive warranty. W h a t’s more , M onroe
employees staff the 2 5 0 branch offices conve­
niently located across the U.S. and C anada,
ready to provide full service and support in
your office.
Now that our price has reached a new
low, isn’t it high time you took advantage?
For more information on our new
2125 calculator, call our toll-free number:
8 0 0 - 5 2 6 - 7 8 4 3 , ext 4 4 4
(In N.J. 8 0 0 -5 2 2 -4 5 0 3 , ext. 444.)

For leaders, not followers.
Federal Reserve Bank of St. Louis

treasury, controllership, internal
auditing and corporate systems.
Francis D. Pedersen was pro­
moted to senior vice presidentfinance and Carl R. Quinn to senior
vice president and controller.
Mr. Blake also announced that
elected to the board of directors of
Heller International Corp. were Mr.
Koe, Samuel L. Eichenfield and
Kunitake Nomura. Mr. Eichenfield
GE Credit Corp, serving there 10 is president of Heller’s Commercial
years. At Heller, he will have re­ and Industrial Equipment Financ­
sponsibility for all corporate finan­ ing Group. Mr. Nomura is president
cial affairs and functions, including of The Fuji Bank and Trust Com­

pany, New York, a wholly-ownecL
subsidiary of The Fuji Bank,
Limited, of which Heller Interna­
tional Corporation is a subsidiary.
HIC is a holding company for
Walter E. Heller & Company anc^
Walter E. Heller Overseas Corpora­
Michael J. Lit win has been elected
president of the Central Commercial
Finance Division
of Walter E. Hel­
ler & Co. He was
formerly senior
vice president of
the division and
has been with
the Heller firm
since 1971. His
d iv isio n p r o ­
vides working
capital and ac­
quisition loans to companies in 16
central and midwestern states
through six midwest offices.
Gary Mrazko has been named ex­
ecutive vice president of Heller &
Co.’s commercial financial services
group, based in Chicago. He was for­
merly senior vice president of th e ^
central credit review division.
Charles L. Smead has been named
senior vice president of the same
Ronald J. Fuller has been pro-£
moted to national sales manager of
Heller/Chandler Division, the capi­
tal equipment leasing arm of Heller
& Co.
InnerLine, Arlington Heights, 111.:^
Walter Rapawy, 40, has been ap­
pointed chief executive officer. He
joins InnerLine from Chase Manhat­
tan Bank, New York, where he w as^
vice president of telecommunica­
tions for Chase’s New York opera­
tions. Prior to that he spent three
years with Shell Oil Co., New York.
InnerLine is a co-venture of Ameri-%
can Banker and Bank Administra­
tion Institute.

Don’t worry, sir, Carrothers assures me everything’s under control.

Banker, September, 1984
Federal Reserve Bank of St. Louis

LeFebure, Cedar Rapids, la.:
Leonard J. Yotko has been a p -^
pointed manager of the Chicago
regional office. He has been with the
firm 14 years.
Jay Powell and Charles Schrader
have been appointed sales engineers 9
in the Minneapolis office. Mr. Powell
will serve much of the southwestern
Minnesota and southeastern South
Dakota. Mr. Schrader will serve
southeastern Minnesota and specific %
accounts in Hennepin County.

Travelers Express Company, Inc., Inc., in March of 1984, after three
^Minneapolis: Coleen Kuschel has been years of research and development,
appointed electronic services repre­ system design, and extensive in-bank
sentative for the Minnesota switch of field testing.
“The KENCOM System offers
Travelers Express. She was also with
FBS, where she worked for 15 years. America’s mid-range bankers an ad­
vanced single system concept that
simplifies and improves their data
Hubbard & Associates, Inc., Chi­ processing
procedures and strength­
cago, 111.: Susan B. Barksdale has ens their in-bank capabilities...all
been named president and Jean without requiring an in-bank technical
0 Mizell vice president of the Chicagostaff, according to Mr. Welbaum.
based sales management and train­
LeaseAmerica Corporation, Cedar
ing company, according to James J.
Rapids, Iowa: Dick Anderson has
Hubbard, chairman.
Ms. Barksdale previously served been named as the new marketing
# as executive vice president and di­
rector of training services for Hub­
bard. Earlier this year she was
named senior executive responsible
for both training and consulting ser­
v ic e s . She also has chaired the firm’s
Client Planning and Review Board,
H ubbard’s principal vehicle for
assuring quality service for clients.
Ms. Barksdale earned her under­
g ra d u a te and graduate degrees from
the University of Wisconsin, where
she has also served on the faculty.
Ms. Mizell has been promoted to
vice president and director of con­
s u ltin g services for the firm. Prior to
joining Hubbard, she held manage­
ment responsibilities at American
National Bank, Chicago.

representative for the Minneapolis
Sales Office.
Mr. Anderson has been in the leas­
ing industry since 1979. He is a life­
long resident of Minneapolis.

RMA’s Conference to
Explore Industry Trends
More than 1,700 members of
Robert Morris Associates and their
spouses are expected to attend
RMA’s 70th annual Fall Conference
in San Juan, Puerto Rico, October
28-31. RM A is the national associa-


Innerline, Arlington Heights, 111.:
Lawrence G. LaBeau, 43, has been
appointed national accounts direc­
tor, according to Walter Rapawy,
^ Mr. LeBeau joins Innerline from
ITT Educational Services, Indiana­
polis, where he served as director of
corporate relations and advertising
^ o r three operating divisions. Prior
to joining ITT, he spent four years
as senior vice president for Citizens
Bank in Anderson, Ind.

KENCOM, Inc., Orlando, Fla.: Dan
^Welbaum, former senior vice presi­
dent of sales and
m ark eting for
Florida Software
^S ervices, Inc.,
^has recently been
appointed to the
position of presi­
dent for th a t
^Kirchman Com­
p a n y ’s new ly
form ed s is te r
organization — D WELBAUM
a The Kirchman Corporation an­
nounced the formation of KENCOM,
Federal Reserve Bank of St. Louis

A minor loss of control can develop into a major problem
in a hurry. At System Resources, we custom-tailor
microcomputer systems for companies large and small. With
over 20 years of experience, we can assure you that
our systems put you in control — and keep you there.
Call us today, (612) 340-0077.
SYSTEM RESOURCES Corporation. Putting you in control.
123 North 4th Street, Minneapolis, Minnesota 55401
Northwestern Banker, September, 1984


Sign up now for a

Free #
In your bank. On our micro—or yours!
If you are considering any of the software systems listed
below you should also consider this valuable offer
The nationwide sales force of Darien Microsystems is ready
now to call on you—in your office—to demonstrate to you and
your people the dramatic micro computer software systems
of America’s foremost developers of micro computer software
for financial institutions.
If you are in charge of your bank’s micro computer planning
program and not yet ready to buy, you should send for more
complete system descriptions of each of these sophisticated
software systems.
Yes, they all operate on an IBM micro and most other micro

□ Fixed Asset Accounting
□ Loan Origination & Document
□ Shareholder Accounting
□ Asset/Liability Management
□ Loan Loss Control
□ Teller Staffing


Safe Deposit Box Accounting
Proof Management
Trans-Check Management
General Ledger
Retail Selling Systems
Commercial Customer

For your in-bank demo/seminar—on your micro or ours—you may
clip out this ad and send it to:
1 — — — — Darien Microsystems, Inc.
397 Post Road PO. Box 1106
Darien, CT 06820
Please contact me about a demo.



State .


Our Micro is a


I am most interested in.

Or call (203) 655-6832

Darien MicroSystems, Inc

Banker, September, 1984
Federal Reserve Bank of St. Louis


tion of bank commercial loan and_
credit officers.
New officers of the RMA, who
were elected August 3, will be in­
stalled at the convention. They are:
President—Glenhall E. Taylor, Jr.,®
vice chairman and chief credit offi­
cer, Seafirst Bank and Seafirst Cor­
poration, Seattle; First Vice Presi­
dent—Patrick L. Flinn, executive
vice president, The Citizens and#
Southern National Bank, Atlanta,
and Second Vice President—Ed­
ward J. Williams, treasurer, Brown
Brothers Harriman & Co., New York
City. One of the four newly-elected#
directors to three-year terms is from
the midwest—Paul C. Clendening,
senior vice president, Commerce
Bank of Kansas City, N.A.
The progam will focus on a wide^
range of topics of interest to both
domestic and international commer­
cial lending officers. RMA 1984-85
President Glenhall E. Taylor, J r . ^
Allan Sloan and Sanford C. Sigoloff^
are among those scheduled to give
major addresses. Mr. Taylor is vice
chairman and chief credit officer,
Seafirst Bank and Seafirst Corpora-^
tion, Seattle, Wash. Mr. Sloan is ^
senior editor of Forbes Magazine.
Mr. Sigoloff is chairman of The
Wickes Companies, Santa Monica,
Panel presentations and small
group discussions will cover the fol­
lowing topics: strategic and tactical
planning of the total loan function;
loan and credit administration in#
multibank holding companies; re­
cent legislative developments affect­
ing bank lending; innovations in
commercial real estate lending; the
prime rate perspective in 1984; gen-#
erating and funding loans; agricul­
tural lending; international debt re­
structuring; evaluating and manag­
ing interbank risk; the pros and cons
of decentralized/centralized credit^
departments and their effect on the
overall loan portfolio, and continu­
ing education and training for
The Conference program also wilK
focus on the future of international
lending; strategies for increasing
productivity in lending; leveraged
buyouts; the use of microcomputers®
in lending and credit; letters of cred­
it; the director’s role in loan port­
folio quality; improved accounting
standards and their effect on data
supplied to bank credit grantors;®
and profitability analysis.


. The Continuing Tradition
of Excellence


Since 1935 ABA’s Stonier Graduate School of Banking has
excelled in providing the best available education and training
to bankers nationwide.
Stonier’s reputation rests solidly on its superior faculty and
an innovative curriculum designed by experienced bankers
and academicians. We prepare students for upper level man­
agement careers in the banking industry.


A Stonier diploma is your mark of
achievement in the banking industry.


You can be a part of the continuing tradition by enrolling in
the 1985 academic session.


For an application or more information send in the coupon
below or telephone the ABA Banker Education Network
(“ BEN” ) at (202) 467-6738.
YES, I want to receive more inform ation on the 1985 session of Stonier Graduate
School of Banking. Please send an application and inform ational brochure to:
N am e_________________________________________________________________


Return coupon to: S u n y e K w o n

Stonier Graduate School of Banking
American Bankers Association
1120 C onnecticut Avenue, N.W.
W ashington, D.C. 20036
Federal Reserve Bank of St. Louis

3Ö O


Another Service of the American
Bankers Association


Northwestern Banker, September, 1984


Denver Hosts BAI Convention, Sept. 13-14
ECISION-makers from through­
out banking and financial ser­
vices — and representing all types
and sizes of institutions — will be
listening at MONEY TALKS when
leading business executives describe
how to manage for a strong bottom
Robert C. Isban, executive vice
president, Manufacturers Hanover
Trust Company, New York, has
been elected chairman of the board
of Bank Administration Institute
for the 1984-85 fiscal year. He suc­
ceeds Rayburn S. Dezember, chair­
man of the board, American Na­
tional Bank, Bakersfield, Cal., who
continues to serve on the BAI board
as immediate past chairman.
The new chairman-elect of the In­
stitute is Marc J. Shapiro, vice
chairman and chief financial officer
of Texas Commerce Bancshares,
Inc., Houston.
MONEY TALKS, Bank Adminis­
tration Institute’s 1984 Annual
Meeting and National Convention,
will be held September 13 and 14 in
Denver. At the meeting, outstand­
ing business leaders representing a
wide range of interests — from

BMA Accepts 22 Reports
The Information Center of the
Bank Marketing Association has ac­
cepted for its Resource Center six
school project reports and sixteen
marketing plans written by gradu­
ate students of the 1984 BMA
School of Bank Marketing at the
University of Colorado, Boulder.
The project reports accepted by
BMA were first-hand case histories
which show the implementation of
original marketing concepts in the
student’s institution.
Marketing plans, which are poten­
tial programs of action developed by
the students, were divided into three
parts: situation analysis, objectives,
and strategies. Three of the 16 plans
accepted were prepared by these
area bankers:
1984 M arketing Plan—Nancy L.
Garcia, Montana Bank of Mineral
C o u n ty ,
S u p e rio r,
M ont.
Plan for Introduction and Deli­
very o f Financial Management A c ­
count—Coliete M. Merza, Manito­
woc Savings Bank, N.A., Manito­
woc, Wise. ($165,000,000)
M a rketin g Plan —Michael L.
for FRASER Banker, September, 1984
Federal Reserve Bank of St. Louis

management and finance to market­
ing and technology — will address
the strategies, tactics and tech­
niques underlying their success in to­
day’s volatile financial marketplace.
Financial professionals unable to
be in Denver can view opening-day
general sessions at BAI’s network
of more than 30 MONEY TALKS
video teleconference sites. High­
lighting the live broadcast will be a
panel discussion featuring leading
banking and financial services in­
novators who will field questions
from their nationwide audience.
The 1984 BAI Annual Meeting
will include more than 30 concurrent
sessions organized along four
tracks: General management, finan­
cial management, financial services,
and operations and technology.
These intensive working sessions
will focus on mergers and acquisi­
tions, the changing profile of the
financial services customer, service
charges, developments in point-ofsale, asset-based lending, risk in
bank operating systems and other
tropical subjects. Headquarters for
the meeting is Denver’s Fairmont
Thompson, Citizens State Bank,
Clarinda, la. ($50,000,000)

HBE Bank Facilities Gets
$3.1 Million in Contracts


Fred S. Kummer, president of
HBE Facilities, St. Louis, announced
last month that contracts totalling
$3,122,000 for three credit union
projects have been signed by the design/build firm.
HBE will construct a new, onestory brick building in Baton R o u g ^
La., for Baton Rouge Teachers FecF
eral Credit Union. It will house ad­
ministrative offices, operations, six
inside tellers, data processing, board
room, member service and employe^
lounge. It will also provide drive-up
window service with one active and
two future tellers. Completion of the
$888,000 project is scheduled for
June, 1985.
In Bremerton, Wash., HBE will
provide a two-story addition for the
Kitsap Federal Credit Union at a
price of $1,465,000. It will give a full
finished basement to the main offic®
and complete remodeling of the ex­
isting two-story facility.
The Glass Workers Credit Union
in Ottawa, 111., contracted with
HBE for a 5,356 foot addition wit®
full basement at a cost of $769,000.
It will provide a meeting/training
room, record storage room, employ­
ee lounge, security/safe deposit
vault, administrative operations®»
member service and marketing.

BMA Announces Convention Plans
HE EXPANDED role of mar­
keting in setting policy and
guiding management of the nation’s
banks will occupy a key portion of
the programming at the Bank Mar­
keting Association’s 69th annual
convention to be held Sept. 16-19 in
New Orleans.
In announcing programming de­
tails for the BMA convention, Joyce
Healy, 1984 Convention Chairper­
son, said the four day meeting will
place particular emphasis on the
sweeping regulatory and legislative
changes affecting the industry and
will feature expanded programming
to draw non-marketers as well as
marketing professionals.
The theme for the 1984 conven­
tion is “Marketing — The Driving
Force.” Sessions will be held in two
hotels, the New Orleans Marriott
and the Sheraton New Orleans.
Among the many areas to be cov­
ered in convention sessions will be
marketing’s role in development of

new product areas like in s u r a n t
securities, and real estate, the pros­
pect of banks paying interest on cor­
porate deposits, and new electronic
delivery systems.
A “Microcomputer Fair” featuP
ing live demonstrations by bankers
who have used micros effectively in
their bank, will be held on Sunday
afternoon, followed by “Exchang^
Group” sessions, where convention
attendees can trade ideas with their
Scheduled during the New Orleans
Worlds Fair, the BMA convention
features a special bonus for regis^
trants and their spouses this year.
One day’s free admission to the Fair
is included in the registration pack­
For more information on the con­
vention, contact Gayle Fink, vice
president/director, Meeting Services
Division, Bank Marketing Associa­
tion, 309 West Washington S t^
Chicago, IL 312/782-1442.

Last year, over 2,000
financial institutions
lost their shirts.
Over-exposure may have
been avoided had they been
protected by the Profitstar
Asset/Liability Management

Did you lose your shirt with below
par earnings? Lower net interest margins,
higher operating costs, loan losses and
other factors have all had their impact on
the bottom line. Many opportunities
could have been taken and losing situations
avoided with proper planning through
Asset/Liability Management (ALM).
When it comes to ALM, Profitstar “’s got
you covered. It’s an ALM model designed
by bankers and CPAs that helps you for­
mulate various strategies for your bank.
For example, Profitstar allows you to
look at GAP positions, interest rate
scenarios, projected financial statements
and the bottom line. Then graph your
results or formulate “what-if” strategies
within minutes. Profitstar is designed to
Federal Reserve Bank of St. Louis

incorporate your bank’s accounts, policies
and philosophies. It is easy to operate
and runs on most popular microcomputers.
Want to know more? Just call us - toll
free - 800-351-9055 or in Nebraska,
800-642-0080. Or clip and mail the enclosed
coupon. We’ll send you an informative
guide to Asset/Liability Management on
the Profitstar system. It just might help
you keep your shirt.
Rush me more information on Asset/Liability
Management with the Profitstar system.
® Company.



1 Send to F.N. Bankware, Inc., 1300 First National
1 Center, Omaha, NE 68102.
NB 9
i ■BSHIllllIlBSBlIBBaffiliaiBIIBH

t f lA


l W

I i l


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A product of F.N. Bankware, Inc.


F.N. Bankware. Inc., is a subsidiary of Farmers National Bancorp,
Inc. Home office —Geneseo, Illinois.

Federal Reserve Bank of St. Louis








“ Several firm s told us
to redesign our bank,
inside and o u t”
At HBE, we create environments that work.
In Lecompte, Louisiana, the bank’s problem
was not unusual—they had outgrown their
limited space. HBE worked closely with
Bank of Lecompte President Wade Jones to
plan, design and build a new facility on the
bank’s original site.
Customer service and continuity were
also maintained because HBE remodeled in
phases, allowing no loss of security or
business days.

A building can cost as much or as little as
any budget can afford. But, unless the final
product works best for you, it’s never worth
the price. HBE designs banks from the
inside out...from the original concept to
the last desk. No other firm works with
you so closely on every aspect of your

“W e've enjoyed a stro n g deposit
increase since th e c o n stru c tio n
o f o u r n e w HBE b an k ."

Customer deposit growth is not one of our
guarantees, but when it happens, like it did
in Lecompte, we’re not surprised. Because
professionals from every area of planning,
HBE banks are designed to be both comfort­ design and construction work together on
the HBE team, we can solve your bank’s
able and productive. Our experience has
problems better; on time and on budget.
proven that an attractive business area for
You will know exactly what your project
customers can also be a pleasant and pro­
ductive working environment for personnel. will cost before any contract is signed. No
That’s a dividend that continues to pay for cost overruns. No surprises. No allowances.
At HBE, your cost is guaranteed before we
years and years.
build and the quality assured after we leave.

“P ro d u c tiv ity , m o rale a n d
g en eral good feelings a m o n g o u r
em ployees a ll increased."

“As fa r as v a lu e for th e dollar,
HBE in clu d ed e v ery th in g .
We got a g re a t price."

Wade Jones thought that the plan/design/
build system of construction would be too
expensive. HBE showed him it doesn’t have
to be. After checking similar projects in
Louisiana, Wade Jones agreed.

For information on how HBE can work
for you, contact Sally Eaton at
314/567-9000. HBE Bank Facilities,
11330 Olive Street Road, St. Louis,
Missouri 63141.

“ H BE was the only one
that could do it. Affordably.”
Your System for Success

Bank Facilities
Federal Reserve Bank of St. Louis


NABW to Hold Convention in Hawaii
Gery and Burns focusing on “our at­
traction and reaction” to technology
and why technology offers new op­
portunities to women in financial
management. Other workshops, to
be led by experts in the field, will in­
clude “How smart banks are capital­
izing on deregulation,” “Employee
assistance programs,” “Building ef­
fective sales teams,” “ Innovative
strategies in negotiation,” and “Dis­
count brokerages.”
On October 2 , conventioneers a t­
tending a special luncheon will have
the opportunity to hear advertising
executive Barbara Proctor, presi­
dent of Proctor & Gardner Advertis­
ing Inc. in Chicago, speak about get­
ting ahead on the job. Ms. Proctor
was featured recently on CBS-TV’s
“60 Minutes” and was cited by Pres­
ident Reagan in his State of the
Union address earlier this year for
her entrepreneurial spirit.
Sessions that day will feature con­
sensus workshops at which issues
presented in the general session will
be reviewed with attendees reaching
a consensus about the issues. Sev­
eral management-oriented work­
shops also will be held focusing on
outcome selling, innovation in per­
sonal communications, managers as
innovators, and becoming a “hy­
brid” manager.
On October 3, a distinguished
panel of women corporate board
members will discuss how they have
met the job challenge. The panel will
be moderated by Phyllis Haeger,
president of P.M. Haeger and Asso­
ciates, Inc. in Chicago.

In addition, a Navy captain who
spent seven years in a Vietnam
POW camp will share his frustra­
tions and triumphs. Capt. Gerald
Coffee, of the U.S. Navy, stationed®
in Honolulu, will discuss why some
individuals, when faced with ad­
verse challenges, go on to even
greater achievements.
In addition to the membership!®
programs and workshops, a new
spouses’ program is being intro­
duced this year. On October 1 , it will
feature a candid discussion based on
the concerns that husbands have re®
garding their spouses’ career. The
following day, dual career marriages
will be discussed. Both sessions will
be led by Alene Moris, president o f
the Individual Development Cente®
in Seattle, Washington.
Association activities will he held
throughout the convention, begin­
ning with a full day of leadership^
training for NABW officers on Sun®
day, September 30. All members can
attend these in-depth sessions. At
the Educational Foundation Ban­
quet on Sunday evening, N a ta s h ^
Josefowitz, Ph.D., professor of man®
agement, College of Business Ad­
ministration, San Diego University,
will be the featured speaker. She is
the author of Paths to Power, a book^
which explores personal and profes­
sional challenges.
During the banquet, an announce­
ment will be made about funds
raised during a major capital cam ^
paign held during the year. The
1984-85 NABW national officers
will be installed during a luncheon
on October 3.

$14,247,000 during the first half
$158,952,000 at Dec. 31, 1983.
Net income for EMC Insurance
The increase in assets was mainly
Group Inc., Des Moines, la, for the
second quarter of 1984 amounted to attributable to additional reinsur­
ance business transferred to the re­
$764,000, down $367,000 from insurance
subsidiary from Employ­
$1,131,000 for the second quarter of ers Mutual Casuality Co., which
owns 92 percent of the stock of EMC
Net income per share for the quar­ Insurance Group Inc.
ter was 13 cents, compared with 19
cents for the second quarter a year
MHC Mortgage Lending
For the half year ended June 30, Now Covers 23 States
1984, net income was $2,422,000 (40
Manufacturers Hanover Corpora­
cents per share), down 15.8 percent tion, New York, has announced a na­
from the first half to ta l of tionwide expansion of its residential
$2,878,000 (48 cents per share) in mortgage lending business that will
cover 23 states.
Assets of EMC Insurance Group
Combining the resources of two
Inc. as of June 30, 1984, totaled MHC subsidiaries, 35 offices of
$173,199,000 having increased Manufacturers Hanover Financial

Services, Inc. will offer first mort­
gages, underwritten and serviced by
Manufacturers Hanover Mortgage
These 35 offices, called fin an cial
centers, currently offer home equity
loans, revolving lines of credit,
marine financing and luxury auto­
mobile loans. They will use MH
Mortgage Corporation’s state-of -0
the-art computer system to expedite
transactions from application to
final approval.
Customers at the financial centers
will be able to choose from a variety^
of conventional home mortgages.
Currently, MH Financial Services
offices in Denver and Philadelphia
are offering the mortgages, with the
remaining 33 financial centers sched#
uled to come on-line during 1984.

OMEN bankers from across
the country will meet to dis­
cuss methods for banks to compete
effectively in the new financial mar­
ketplace at the 62nd annual conven­
tion of the National Association of
Bank Women, Inc. being held Oc­
tober 1-4 at the Sheraton Waikiki in
Honolulu, Hawaii.
Themed as “Innovation: Chal­
lenge for Tomorrow,” the conven­
tion will provide seminars and work­
shops that explore new techniques,
markets, products, and services in
the financial services area.
More than 1,000 women bank ex­
ecutives are expected to attend the
three-day event which will open with
a keynote address by Robert Bleiberg, editor of Barron's National
Business and Financial Weekly. He
will discuss the forces affecting the
banking industry and the impor­
tance of technology in addressing
these forces.
Following his talk, John Fisher,
senior vice president of Banc One
Corporation, in Columbus, Ohio, will
provide a broad overview of what is
ahead for the financial industry.
During the morning session, a
presentation also will be made by
Gery of Gery Associates of Westford, Connecticut and Stan Burns,
of the Chase Manhattan Bank in
New York. Their talk called “Tech­
nology: Innovation or Inundation?”
will focus on how the technological
revolution has affected the financial
services industry.
The afternoon sessions on Octo­
ber 1 will include a workshop by


EMC Gives 6-Month Report

Banker, September, 1984
Federal Reserve Bank of St. Louis

When it comes to
lease operations
support, First Lease
does what they say
they willV


Doug Steele
Executive Vice President
Planters Bank & Trust
Hopkinsville, KY

F irstL ease w orks!
‘‘When we ran into a
problem, First Lease
came up and solved it.”
Dan Fehrenbach
Vice President
Bank of Western Indiana
Covington, IN

First Lease and Equipment Consulting Corporation is a
service company, helping banks around the country oper­
ate profitable, independent leasing departments without
major investments in start-up and maintenance. And First
Lease does it on a fee basis so that the handsome profits
of leasing stay with the banks.
Does the First Lease support service work? Ask some
First Lease clients:
Doug Steele: “ First Lease is one of the few companies I’ve
run across that lives up to its advertising. They’re there
when we call. They’re competent, knowledgeable, and
friendly. Their service is consistently good.”
Dan Fehrenbach’s bank wasn’t getting its share of the
farm equipment leases in western Indiana. Dave Hockett
of First Lease went with Dan to see the problem dealers.

‘First Lease is an
expert in helping put
together participation
Jack Casada
Vice President
First Bank & Trust Co
Mt. Vernon, IL

Says Dan, “ Dave showed the dealers how our bank could
lease their equipment to farmers for them without the
dealer having to put any money up front, and without any
continuing liability. We get a lot of their business now.”
Brian Griffin says his experience with First Lease has
been good from the start, adding “ First Lease really knows
equipment leasing!’
Jack Casada says First Lease arranges lease participa­
tions when needed. “ We call all the shots, though, and
our customers don’t even know First Lease is anywhere
Perhaps the First Lease lease-operations service can
work for you, too. For more information, call Terry Winders
or Jan Gerdom at 502/423-7730.


420 Hurstbourne Lane • Louisville, KY 40222 • 502/423-7730
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984

Tim Firsts m ake
a force in correspondent banking
First Bank Minneapolis and First Bank Saint
Paul Correspondent Banking Departments have joined
forces to become First Bank Correspondent Banking.
We combined all the resources of two of the largest
correspondent banks in the region to create the newest,
biggest and most customer-driven correspondent
in the Upper Midwest.
What does that mean to you? It means you
can draw on the largest credit resources of any corres­
pondent in the Upper Midwest. It means you can build
a solid banking relationship with the largest staff of
professional calling
officers in the area. And it
means you can rely on
the resources of our
banking officers to solve
your specialized, multi­
bank, agricultural and
non-credit needs.
We reorganized to
fit the changing banking
world. You still need
regular contact with our
calling officers for bank
stock financing, standard
overlines and other credit
services, so we left that side of our organization
unchanged. But, you also needed more and more advice
about the rapidly changing world of deregulated
banking. And so we’re giving it to you.
We created three new specialty divisions within

our expanded correspondent department: A Multiw
Bank Ownership Division, a Non-Credit Products
Division and an Agriculture Production Credits Division.
All of our specialty banking officers are experts in their
own area a n d in correspondent banking. And that
means that they, too, can operate directly with you on a
regular basis, when you need them.
Also, First Bank Correspondent Banking officers
have instant access to all of the resources and expertise
of First Bank Minneapolis and First Bank Saint Paul.
So you can get the expert banking advice you need
whether it’s in inter­
national banking, consult­
ing services, security
sales and safekeeping, SB/^
loans, leasing, and much
more. We even have an
entire division that
specializes in financial q
services for the new highgrowth, high-technology
and service industries.
So, when you need
correspondent banking #
services, talk to us. At
First Bank Correspondent
Banking you don’t have to go around in circles to
get to the experts. We have the credit you need and the
technical advice you have to have to stay profitable
in today’s ever changing world of banking.
At First, good news is all you get.

First Bank

Federal Reserve Bank of St. Louis

First Bank Minneapolis

First Bank Saint Paul

First Bank Place
Minneapolis, MN 55480

332 Minnesota Street
St. Paul, MN 55101

Members FDIC


HE ANNUAL Agricultural and Livestock Survey
featured each year in the September N o r t h w e s t ­
e r n B a n k e r has taken a different twist this year in
view of the unsettled conditions both in agriculture
and in national politics. Instead of asking ag banker
Ofepecialists for their assessment of the ag and livestock
outlook for supply and prices, this year’s survey asked
a cross-section of ag lenders this one question:
“If you could help write the provisions of
the 1985 Farm Bill, what one, two or three
key provisions would you include?’’
Some of the respondents are bankers who have had
an opportunity to be involved at the national level with
ag decision-making by their banker associations, Con­
gress and the USD A. Others are respected ag college
professors whose influence and advice are respected
nationally as well as in their own states. Still other re­
spondents are bankers who are ag leaders in their re­
spective areas—some as correspondent bank ag lend­
e r s , some as leaders in their state banker association
® g committees.
Some of the points made by respondents are these:
1. It is paramount that the federal deficits be curbed
J)y any one or a combination of—spending freeze, spen­
d in g reductions (including defense and social security),
tax adjustments.
2. Any price support or acreage-idling programs
should be accompanied by more stringent controls
^nonitoring the actual productive acres that can be
counted on each farm.
3. A long-range solution is needed for the handling of
farm debt, not price controls.
4. The federal government and the ag industry need
^ o take a fresh approach in developing and marketing
expanded foreign sales for ag products.
In order to allow for a full discussion of all sugges­
tions, the survey respondents were invited to use what­
ever space they needed to explain their thoughts. Con­
sequently, because of the number of excellent replies
received, the responses will be presented in two issues
Federal Reserve Bank of St. Louis

of the magazine, with some appearing in this issue, and
the rest to be published next month. A copy of the en­
tire survey will be sent to USD A Secretary John
Block. The first installment follows:
Farmers State Bank, Trimont, Minn.
HE farm income, farm production issues as we pre­
sently know them defy any single policy response.
Farm programs began fifty years ago with some clear
goals in mind. They have evolved over the years in
response to crisis situations and to meet short term
political and social objectives rather than providing
long term stability to the production agricultural sec­
tor of the economy.
During this period, major changes also have oc­
curred in American society. No longer are one in four
Americans living on farms as was the case when these
programs began. Today, fewer than three percent of
Americans live on farms, which has resulted in a sub­
stantial change in the economic and political balance
from years past.
Today, the economic dilemmas agriculture is facing
derive from forces outside agriculture and agriculture
policy. Any correction of these economic dilemmas is
beyond the control of agricultural policy.
There are several other limitations to the effective­
ness of farm programs. About two-thirds of the cash
receipts from farming are from commodities not con­
nected with crop price support program. Thus, farm in­
come programs have an uneven impact on various sec­
tors of the agricultural economy. Support programs
for one producer may increase the cost of production
for another who utilizes these commodities in his
operation. Another major limitation is that price sup­
ports as we have known them reward land, not labor.
Farm program benefits then become capitalized into
farm land prices and, therefore, benefit land owners,
many of whom are not farmers. The growing depen­
dence of American agriculture on world markets means
Northwestern Banker, September, 1984

that forces totally outside our control are more impor­
tant in building farm income than commodity pro­
grams. Trade policies, therefore, may have more influ­
ence on farm price and income than farm programs.
A recent congressional budget office study criticizes
the target price system on several counts. Target
prices are costly. They lead indirectly to excess produc­
tion in the United States and other nations. They risk
institutionalizing production-control programs. They
cannot account for regional factors. They are inequi­
table, going mostly to the largest farmers. The study
concludes by saying, “Government intervention has
reached the highest level in history, as measured by
price-support outlays and acreage idled under govern­
ment programs,but has not enhanced farm incomes
significantly. ’’
It is in the light of all of these factors that the 1985
farm bill will be considered; these and the income, debt
problems agriculture is presently experiencing. There
are three critical provisions that will have to be ad­
dressed in new farm legislation:
1. The continuation of some type of floor or support
price under basic commodities with a target price sys­
tem. This is essential to provide some stability to
prices and income to producers.
2. Since much of our growth opportunity rests with
foreign demand, farm legislation needs to enhance the
ability to maintain an aggressive and competitive pos­
ture in international trade. Here the level of price sup­
port and the flexibility to deal with changing world
markets will be critical in determining the effective­
ness of any export program.
3. Agricultural policy can no longer be just farm
policy. It will have to take into consideration the inter­
est of the consumer and, above all, the environmental
impact of the present use of our land resource. Preser­
vation of the present land resource should be a primary
objective future farm policy and it cannot do this by
continuing programs that directly reward the owner­
ship of land and not the farmer.
So, 1985 will be a challenging year for those in­
volved in formulating agricultural policy. Hopefully,
they will look at the long-term impact on income to
farmers and the long-term environment impact of the
programs, while leaving sufficient flexibility in the law
for adjustments as time passes.

Charles F. Curtiss
Distinguished Professor
Iowa State University
Ames la.
HE MOST important factors influencing the eco­
nomic health of agriculture are not likely to be ad­
dressed by the 1985 farm bill. General fiscal and mone­
tary policies will have a substantial effect on U.S. agri­
culture, with the principal factors being the Congres­
sional tax-writing and budget committees, the Federal
Reserve Board and the Departments of Treasury,

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

Commerce and State. The House and Senate agricul^
ture committees and the U.S. Department of Agricul­
ture will focus attention on farm policy but the out­
come is likely to be dwarfed by the result of general
economic policies.
Quite clearly, high real interest rates are the g re a t^
est single problem facing agriculture in the near term.
High interest rates impact agriculture in four ways:
(1 ) by increasing directly the cost of production and
placing in jeopardy most farm firms with debt-to-asset
ratios greater than 40 percent,
(2) by strengthening the dollar and costing the U.S.
dearly in terms of reduced farm exports,
(3) by raising the costs of producing farm inputs
which, under the prevailing competitive structure for
input supply industries, are largely passed on to the#
purchaser in the form of higher prices and
(4) by increasing the cost of carrying farm products
in inventory with a short-term effect not unlike an in­
crease in supply.
There is little doubt that major forces behind higl#
real interest rates in this country are traceable to the
direct and indirect effects of the gargantuan—and
growing—federal budget deficit. Substantial reduction
in the deficit is vital if economic disaster for agricul­
ture and other capital intensive industries similarl}#
situated is to be averted. Progress in reducing the defi­
cit is feasible only during the time in the business cycle
when economic activity is rising. Unfortunately, that
period for the current business cycle may be nearing an
end. There is not appetite either in the Congress or ii#
the Executive Branch of government for reducing the
deficit in times of recession.
Therefore, swift and decisive action is needed on
both the spending side and the revenue side. Spending
cuts of the magnitude needed can come only from area^®
that are among the most politically sensitive—includ­
ing defense and social security. On the revenue side, it
will be necessary to repeal most of the ill-advised tax
cuts in the Economic Recovery Tax Act of 1981 or to
raise comparable amounts of revenue through a v a lu ^
added, flat tax or other revenue generating provision.
The 1981 legislation diminished sharply the revenue
base of this country in a high stakes experiment that
has failed to generate revenue from enhanced levels oU
economic activity. Bringing the budget deficit unde ®
control will require statesmanship of the highest order
by the Congress and by the administration.
As for the 1985 farm bill, the dominant considera­
tion should be development of policies to enable U .S ^
agriculture to be competitive in international m arketsr
Unless farmers, consumers and taxpayers are willing
to accept highly limiting supply management mea­
sures, the persistent ability of U.S. agriculture to over­
produce can be dealt with only by expanding m a rk e t^
for U.S. farm products. This means price supports set
at a level to permit market forces to function, including
the forces of international demand and supply. In that
vein, care should be taken to avoid protectionist
measures that would hamper international trade.
For the roughly 30 percent of U.S. farmers with debtto-asset ratios above the 40 percent level, economic
survival is unlikely unless real interest rates decline
substantially or relief comes in the form of debt re­
structuring programs. The debt problem is sufficiently^
serious to merit a major federal effort. The burdens of

-interest and principal payment borne by the more
^heavily indebted farmers cannot be solved realistically
within the context of the 1985 farm bill. Unless ad­
dressed otherwise, however, the debt problems are like­
ly to color the debate on the farm bill and to influence
^ its provisions as well. Solving the debt problem
^through high price supports could inflict long-term
damage on the ability of U.S. agriculture to compete in
international commodity markets.

Professor, Agricultural Policy
University of Illinois at
Urbana-Champaign, 111.
INCE the first price support legislation was passed
in 1933, American agriculture has undergone ma­
jor changes that have not been fully recognized in the
©major agricultural and food legislation of recent years.
Therefore, in 1985, I would recommend:
1) The international dimension in U.S. agriculture
must be considered. Since about 30 percent of our agri­
cultural production is moving into export, policies
©should aim to maintain or increase this market share.
To do so will require that programs stimulate demand
and provide a dependable supply for foreign custo­
mers. Programs consistent with this objective will set
loan rates that do not interfere with operation of mar­
k e t forces, provide for reserves to insure adequate sup­
plies for both domestic and export demands during
years of short crops, and permit reserves to move out
of storage when needed. Programs that restrict pro­
duction and set loan rates above market prices may ap­
p e a r favorable in the current year. But experience has
shown that such programs encourage other exporting
countries to increase production and compete with ex­
ports from the United States. Setting reserve prices
too high may reduce their effectiveness as a source of
™upply when they are really needed.
2) Price and income support programs should be con­
sistent with conservation goals. Farmers favor a policy
that will require a farm operator to follow recommen­
c e d conservation practices for his farm to qualify for
Thrice and income supports. Such a policy also would
prevent the plowing up of fragile lands susceptible to
erosion just to build larger crop acreage bases for farm
program benefits.
— 3) Farm program benefits should be targeted to
warmers with the greatest need. The structure of agri­
culture has changed dramatically in the past 50 years.
Today, price support programs based on acreage or
production provide limited assistance to the small
Jfarms with gross incomes below $40,000 and where offlarm income often exceeds the earnings from farming
operations. Many farmers with over $200,000 gross in­
comes who receive the largest share of government
payments could often get along without these pay­
m e n ts if they were not available. The mid-size farms
with $40,000 to $200,000 annual sales are often the
Federal Reserve Bank of St. Louis

operations with the most severe financial problems. To
provide larger program benefits or subsidized credit to
smaller farms seems unfair to larger farmers who may
be more efficient or more successful managers. But, if
national policy is to preserve a large number of dis­
persed, independently operated and managed family
farms, then this is the group most in need of assis­
tance. How to provide this assistance raises many con­
troversial issues. Direct payments, based on family in­
come or net farm incomes would probably involve the
least expenditure but would be a major departure from
present programs.
With budget cutting and budget balancing one of
the key goals in 1985, agricultural programs will be
subject to careful examination. Surveys show that
farmers want a balanced budget and lower interest
4-State Study Shows

Farm land value drops 8.8%
VALUE of farm land in Iowa, Nebraska,
South Dakota and Wyoming declined an

average of 8.8 percent during the 12 -month peri­
od ending June 1, 1984, according to a study re­
cently completed by the Federal Land Bank of
The study, based on an analysis of about 4,500
land sales, is conducted annually, said Earl Hoing, FLB vice president.
• Nebraska had the largest decrease in land
values in the four states served by the Omaha
Land Bank. Mr. Hoing said the study showed a
14.4 percent decrease in farm land values in Ne­
braska. This follows a 6.1 percent decrease last
• Iowa saw an 8.8 percent decrease in land
values compared to a 16.9 percent drop experi­
enced last year. Corn and soybean farms had a de­
crease of 9.3 percent, while grain and livestock
operations dropped in value by 8.4 percent.
• In South Dakota, land values declined state­
wide by 6.7 percent with grain and livestock
operations seeing a 10.2 percent reduction. This
compares to last year’s drop in land values of 5
• Wyoming experienced a 3.8 percent decrease
in land values, compared to a .7 percent increase
last year. Operations affected the most in Wyom­
ing were wheat farms that saw a 9.1 percent drop
in values.
Mr. Hoing said the Land Bank’s findings are
comparable to a recent USD A study that showed
land value declines of 12.1 percent in Nebraska,
11 percent in Iowa, 3 percent in South Dakota
and 1.9 percent in Wyoming.
Mr. Hoing cited four years of depressed farm
income as the major reason for the drop in values.
The causes of the reduced farm income include
unsatisfactory commodity prices during much of
the period, unsatisfactory weather conditions in
some areas and increased operating costs, parti­
cularly interest rates.
Northwestern Banker, September, 1984

rates. They have expressed willingness to see reduc­
tion in government expenditures, including farm price
Farm legislation cannot be developed in isolation
from monetary and fiscal policies. Policies to balance
the budget and lower interest rates, reduce the value of
the dollar and stimulate agricultural exports may have
a lot more bearing on the future economic well-being of
farmers than the level of target prices or loan rates.

Lisco State Bank
Lisco, Nebr.
Chairman, IBAA Ag—Rural
America Committee
HE TREMENDOUS importance of the 1985 Farm
Bill is clearly demonstrated by the wide participa­
tion by so many individuals and organizations who
have been providing input and exchanging views this
year. Financial problems being experienced by those
engaged in farm production as well as lenders involved
are greatly responsible for such wide participation in
the development of the Farm Bill.
Regarding future agriculture policy, the question
has been posed as to whether we could find a consensus
on an agriculture policy that contains basic safeguards
Federal Reserve Bank of St. Louis

for family farmers and yet is flexible enough to avoid^
the need for legislative change every few years. I be­
lieve that congress will face two very serious restraints
in establishing such a policy.
The first restraint is budgetary. Very little progress
has been made on reducing the huge budget deficits^
this year, and budget restraints undoubtably will be
very stringent in 1985 and beyond, as the Administra­
tion and Congress struggle with the absolute necessity
of reducing the deficits. Future farm programs that rely
upon Federal expenditures as incentives to secure par-^
ticipation will be difficult to justify and enact.
The second restraint involves credit versus cash re­
turns to farm producers. In the agriculture economy,
we have basically reached the limit regarding the capa­
city of the system to absorb more credit as a substitute^
for inadequate annual net farm income to producers.
This statement applies whether you are talking about
extensions of credit from the Farmers Home Adminis­
tration or refinancing assets through the commercial
banking system.
Taken together, these two restraints on agriculture
policy will probably mean that any future policy con­
taining “basic safeguards for family farmers,” will
have to prevent the rebuilding of surplus inventories of
basic farm commodities through economical and effi#
cient means, since a salvage operation on anything like
the magnitude of the PIK Program is probably pre­
cluded for the future.
Of course if the upward trend in farm export market­
ing could be revived, this would be the most efficient#
way to improve net farm income. We could get back to

^allowing agriculture production to run near full capaci­
ty without rebuilding surplus stocks. However, until
credible steps begin to be taken toward bringing down
the Federal budget deficit, we seem caught on the
horns of a dilemma between equally bad alternatives:
^either the resurgence of inflation or a continuation of a
greatly over-valued US dollar. If the Federal debt were
to be substantially monetized, inflation would re-ignite. If the debt is not monetized, the United States
must continue to attract foreign capital in large
^am ounts to service the Federal debt, which requires a
very strong dollar. The over heated dollar is devasta­
ting to the US farm exports.
The only apparent way out of this dilemma would in­
volve credible action which begins to reduce the proflljected Federal debt load.
We could find that the farm policy agenda next year
is crowded with proposals designed to shift or restruc­
ture the burdens of agriculture debt. Various concepts
are receiving wide public discussion, including that
(©agriculture lenders should “forgive” the repayment of
a portion of the principal on outstanding debt to cer­
tain classes of borrowers, that the FmHA should pur­
chase certain farm land on which extensive debt has
accumulated and lease it back to farmers with an op©tion to buy and others. These types of concepts would
prove very difficult to enact and carry out equitably
and responsibly.
I want to comment now on future farm policy other
than credit policy, because we can not begin to solve
©the debt problems of agriculture with credit measures
alone. Because the IBAA felt the need to speak in more

than generalizations in the farm policy debates, in
June of 1983 we developed a rather specific set of farm
policy proposals. Part of those proposals called for up­
dating the Secretary of Agriculture’s discretionary
authority to:
(1 ) pay export price incentives through the private
exporters, and
(2) require production or marketing controls based
on a majority referendum of producers.
There are of course major objections and limitations
to what we have proposed, but these proposals empha­
size two things:
(1) The United States is going to have to be competi­
tive in world agricultural markets, and that will re­
quire the capability to intervene financially in some
situations to counteract unfair trade practices of
others and to keep specific markets open to U.S.
(2) At least until we experience renewed growth in
agricultural export markets, we must have the capabil­
ity to build down the production capacity of the U.S.
farm production plant—in order not to reaccumulate
burdensome surpluses of farm commodities.
Production restraints will have to be accomplished
economically, given the tight budget restraints. For
this reason, required production control authority, in
an updated form, ought to be actively considered as a
part of the farm policy agenda.
I also feel that the Farm Bill needs to continue to
emphasize soil and water conservation practices and
the use of multi-purpose crop insurance to help reduce
the risk of crop production.

Frank Bauder. Jim Carmody. Kathy Hardy.
Andy Ruments. Max Roy. John Crotty.
Names synonymous with correspondent
banking. More specifically, with correspondent
banking at Drovers. Almost 150 years combined

Knowledgeable years... handling Overline
Loans, Capital Requirements, and now such
new services as discount brokerage. So
consider Drovers for your correspondent needs.
You’ll find a continuity of policy And a
continuity of people. Like Frank. And Jim.
And Andy. And Kathy. And Max. And John.
_ n Call toll-free 1-800-621-8991.
In Illinois, 1-800-527-2498.

f t > / Drovers Bank
Federal Reserve Bank of St. Louis

47th & Ashland Ave., Chicago, IL 60609 • 1-312-927-7000.


“It’s essential that each farm has its land graded and that •
benefits from any program in any form be based on the pro­
ductivity capacity of land actually in the program.”
I have had the opportunity to testify before the
House Committee on agriculture as well as participate
in a number of conferences on the upcoming Farm Bill.
All of us would like to see a long term farm policy, but
in my estimation, times and conditions change too
quickly to adopt such a policy. I am fearful that Con­
gress will take the same position. One thing certain,
the future of the U.S. economy in the years ahead will
fully depend upon agriculture’s ability to recover and

Chairman and President
Liberty Trust and Savings Bank
Durant, la.
HE 1985 Farm Bill will pass only after many
months of study and debate in view of the many
and diverse groups who are already and will be seeking
ways to protect and better their own positions as an in­
dustry. Added to the vested interest groups will be
those organized to promote various philosophies about
farming of a social nature.
As a country banker we observe all facets of agricul­
ture. We see it as a way of life, as a business and as a
key part of our community. We can’t help but note
that we simply have excess productive capacity for our
markets under current conditions. Sometimes one won­
ders if the only solution to our current price and profit
dilemma isn’t to revert to mandatory production con­
trols with guaranteed prices at a level where an aver­
age operator can make a decent living, a poor operator
simply fails and an efficient one has profits above liv­
ing costs. This will not happen in a society where we
frown on “mandatory” controls as not acceptable
under our form of government.
Since we have the capability to overproduce with
normal conditions, it is then essential to try to estab­
lish a way to balance supply and demand. Traditional­
ly, this has been done by farm programs with certain
compliance requirements, such as set-aside acres and
based on payments per acre with certain established
yields. The method is full of faults. Yields are not uni­
formly established between farms. However, even
more ridiculous is the variation within the borders of
the farms. I have yet to see the best land put in the setaside program. It is always the poorest. In many cases
it is land which should never have been in crop produc­
Personally, I think it’s essential that each farm has
its land graded and that benefits from any program in
any form be based on the productive capacity of land
actually in the program. With soil maps currently
available this should be possible, though somewhat
more complex. One has to question, when a govern­
for FRASERBanker, September, 1984
Federal Reserve Bank of St. Louis

ment program is in effect and figures state a certair^
number or percent of acres of land participated, what
the actual yield impact has been. Based on farmers’
comments and observations, they are not the same by
any means.
Assuming we will continue to have some type of pro­
duction controls my next concern is what is done with
the excess acres. There are advocates for placing the
land in hay and pasture. They fail to recognize the im­
pact such a program would have on the livestock in ^
dustry. It might sound great to the Midwesterner, o r
wheat grower, but certainly the cattleman in the range
area cannot afford expansion due to farm programs
with profits as they have been in recent years. Di­
verted acres should be most restricted as to use w ith^
out question except under extreme drouth conditions/
Certainly the weed and erosion control programs
should be more strictly enforced than under PIK!
The credit aspect also will come under review. Much
has been said and written about various proposals w itl^
reduced interest rates and extended time for repay­
ment of debts of primary concern. Personally, I con­
stantly ask myself how credit is given where due to the
young farmer who deserves a chance. He likely started
to farm during high inflation and was unable to reduc^p
his indebtedness before the interest rates rose to unpredictably high rates. There are farmers who would
have fallen by the wayside earlier had it not been for in­
flation and such managers are often beyond help.
There are also the “gamblers” or “speculators” wh(p>
were betting on never ending inflation and lost. If
someone can find a way to fund those who are deserv­
ing, I favor strong FmHA and private financing sup­
port. Personally, I ’m still seeking that method of sor­
ting the deserving from the non-deserving.
Another item worthy of consideration in a Farm Bill
would be to make future farm real estate financing
more readily available and more competitive. The
question should be asked: “Why can’t a secondary
farm real estate market be established comparable t(#
that which exists for housing?” Since many insurance
companies no longer make farm real estate loans (parti­
cularly, if family size units) there is often only the Fed­
eral Land Banks to turn to. Consideration should be
given to a secondary market on farm real estate.
Yes, there will be a new Farm Bill developed in 1985.
The egg is far from hatched and I doubt if in the end it
will be much different from the chicks that emerged
before. Maybe they’ll try to give it a different color, bit
larger or bit smaller but, as in most cases, there is real#
ly little that is completely new. Production must be
geared to our domestic and foreign markets with price
programs hopefully available to make agriculture a
viable industry. After all discussions, we always seem
to get back to one basic fact—a balanced budget h o p ^
fully resulting in lower interest rates might be the best
1985 Farm Bill that can be enacted.
Further responses to the “Annual Agricultural
and Livestock Survey” will be published in next
month’s issue.


A Plain English
Guide to
Asset / Liability

A Plain
Guide to

To our readers:

Written by Bankers for Bankers



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Northwestern Banker, September, 1984


A Plain
Guide to

A Plain English
Guide to
Asset / Liability


Written by Bankers for Bankers

Paul Lindsey is president and CEO of Farmers National Bank of

Geneseo, III., an agricultural-oriented financial institution. Mr.
Lindsey has over 15 years experience in the banking industry and
has been instrumental in helping Farmers National to nearly dou­
ble in size in only seven years from $60 million in total assets in
1977 to its present size of $115 million. He is also a member of the
bank’s Asset/Liability Management Committee (ALCO) and a
member of the bank’s board of directors. Farmers National has
had a formal asset/liability management program in effect since
Bill Goedken is president and CEO of F.N.Bankware, Inc., a fi­
nancial institution consulting and microcomputer software firm
in Omaha, Nebr. Mr. Goedken holds CPA and CMA certifications,
and is an MBA graduate of the University of Iowa. Before joining
F.N.Bankware, Mr. Goedken was a senior consultant with Touche
Ross & Co., an international CPA firm. He has over 10 years exper­
ience in the banking and savings and loan industries, asset/liabili­
ty management, and financial institution operations.
Jim Riha is senior vice president and controller of Packers Na­
tional Bank of Omaha, Neb. Packers is an urban retail bank in a
highly competitve metropolitan market and has assets of $120
million. Mr. Riha is a graduate of the Colorado School of Banking
and the Stonier Graduate School of Rutgers. As both CFO and
chief administrative officer of Packers, Mr. Riha is responsible for
all financial operations of the bank, including asset/liability man­
agement. He is also a member of the bank’s Asset/Liability Man­
agement Committee (ALCO).

SSET/Liability Management (ALM) is not new. It
has been in existence since the opening of the first
official bank in the middle ages. Although the early
bankers probably didn’t know they were practicing
ALM, they did know their assets had to earn more
than what was paid on their liabilities. In other words,
they practiced the “great grandfather’’ of modern
ALM, Spread Management.
During the 1800s and early 1900s, loan and security
portfolios expanded, and bankers were faced with a
wide variety of new financial instruments including
checking and savings deposits. The Depression of the
1930s resulted in a flurry of new laws. Consequently,
banking became a heavily regulated industry, but
bankers learned to cope with the changes. Neverthe­
less, spread management continued to be widely prac­
ticed throughout the ‘30s, ‘40s, ‘50s, and ‘60s mainly
because interest rates remained relatively stable.
In the 1960s, the formal practice of A sset Manage­
m ent evolved, especially within larger banks. Asset
Banker, September, 1984
Federal Reserve Bank of St. Louis

management concentrated on managing specific port#
folios of assets such as cash, securities, and loans.
Within these banks, “profit centers” evolved to handle
the various asset groups. Thus, specific portfolio prac­
tices such as cash management, investment portfolio
management, etc. were adopted.
Asset management worked well as long as loan de­
mand, liquidity demands, and other factors remained
stable. However, the late ‘60s and early to mid ‘70s
was a period of high demand for commercial loans.
Many banks who had emphasized asset managemen#
could not satisfy their loan demand because of low
lending limits set by liquidity constraints. Faced with
this situation, many of the large banks employed a new
practice called Liability Management. These banks
would issue large bank CD’s, buy Fed Funds, or issu #
repurchase agreements on the open market to raise
funds to satify excess loan demand. New instruments
were issued as long as loan demand remained high.
Liability management required a constant monitoring
of the financial markets. Consequently, within thê^
banks, new departments were created to handle the
buying and selling of financial instruments.
Although both asset management and liability man­
agement were recognized for improving bank manage­
ment and profitability, only the larger money-cente^
banks were using these specific management practices
on a formal basis. Furthermore, there was little con­
cern to integrate the two techniques into one practice.
However, during the mid to late 1970s and early 1980s^
four factors resulted in the integration and growth o®
asset/liability management:
1) Deregulation of the industry;
2) A volatile interest rate environment;
3) Higher loan losses, especially in agricultural lo an ^
and overseas loans;
4) The advent of the microcomputer.
The first three factors created a need, as a matter of
survival for the “total concept” of ALM. The fourth
factor made ALM easier, faster, and relatively inex^
pensive to use. Thus, modern day ALM was born. To­
day, ALM is widely recognized and is used by banks of
all sizes.

Definition of A/L Management


We have seen how ALM evolved; now let’s define ALM.

_ As discussed earlier, asset management focused on
^m anaging the individual asset portfolios while liability
management concentrated on satisfying loan demand.
Both are important management practices and should
be included in a comprehensive ALM program. How­
e v e r , let’s step back from the portfolio level and look at
the entire balance sheet structure.
A bank’s balance sheet structure is composed of var­
ious types of asset/liability accounts, account bal­
ances, account rates, and the maturity structure of the
^account balances. The rate bearing accounts may be
fixed-rate or variable-rate. As you can see, the balance
sheet is very complex. Changes in the make-up of the
balance sheet can have a significant impact on profit­
ability. Furthermore, given potential future changes in
^either an asset or liability account via volume and/or
rate changes, profitability can be maintained or en­
hanced. With this in mind, asset/liability management
can be broadly defined as:
• The practice of managing the entire bal<ig>
ance sheet structure to maximize the goals
of the bank while maintaining an acceptable
level of risk.
Since this is a broad definition, it may be interpreted
in several ways. Every financial institution is diffe®rent. Your bank has philosophies, goals and manage­
ment styles which are different than the bank or sav­
ings and loan down the road. Your goal may be to in­
crease total asset size, while another bank’s goal is to
capture a certain share of the community’s commercial
llloan market. Your bank’s goals greatly influence how
you manage your assets and liabilities.
Risk is another factor which influences the manage­
ment of your bank’s assets and liabilities. Your main
objective may be to minimize interest-rate risk or perlihaps minimize credit risk. Risk also may conflict with
certain bank goals. For example, let’s assume your
bank wants to grow and also be very profitable. One
Federal Reserve Bank of St. Louis

“ In addition to the bank’s
philosophies, goals are
influenced by various risk
specific strategy may be to “go after’’ more potential
commercial loan customers. However, this strategy
may increase credit risk, and perhaps result in greater
loan losses. You may grow, but at the expense of earn­
As you can see, a particular ALM strategy may help
to attain one goal but to the detriment of another. The
solution to this dilemma is to formulate a strategy
which will attain your goals while maintaining an ac­
ceptable level of risk. Of course, this is easier said than
done. Later on, we shall present specific issues to think
about when using ALM.
Before discussing ALM in detail, let’s step back and
think about how it fits into the bank management pro­
cess. ALM is a major function of bank management,
perhaps as important as the loan function. ALM
should not be taken lightly. It is something to be con­
stantly aware of, either formally or informally.

How ALM Fits Management Process
Figure 1 presents an overview of the bank manage­
ment process. As you can see, many internal and exter­
nal factors influence the philosophies of your bank.
These factors include government policies and regula­
tions, domestic and foreign economic conditions, com­
petition from local and regional banks as well as from
other financial and non-financial institutions. A bank’s
philosophies are further shaped by the community’s
social, economic and political climate. Individual pre­
ferences and styles of bank management also influence
bank philosophies as well as the bank’s organizational
structure, whether it be centralized or decentralized.
“Other factors’’ such as the weather, union strikes,
etc., affect some banks more than others. For example,
hail and drought affect farmers and, consequently,
their loan lines. In this case, a rural agricultural bank
will feel more of an immediate impact than an urban
commercial bank. A bank’s philosophies are shaped to
handle and adapt to these “other factors’’ as well as
the more obvious factors mentioned above.
Based on a bank’s philosophies, goals are set. The
goals are generally classified as short-term or long­
term and are assigned priorities. A bank may desire to
maximize earnings, maximize growth, or optimize
some combination of the two. More specifically, a $20
million bank may set a goal to double asset size within
10 years, while maintaining at least a 1 % return on
In addition to the bank’s philosophies, goals are in­
fluenced by various risk factors. These include credit
risk, interest-rate risk, liquidity risk and trading risk.
Credit Risk is the probability of a customer default­
ing on a loan payment or perhaps the total loan.
Interest-Rate Risk is the potential negative impact
on a bank’s earnings due to changes in interest rates.
Liquidity Risk is the probability of not having availNorthwestern Banker, September, 1984


“Long-range strategic planning addresses ‘where do we (the*
bank) want to be in 1-10 years?’ ALM is the action plan.’’
able funds to meet loan demand, investment pur­
chases, or liability withdrawals.
Trading Risk is the probability of entering into un­
favorable transactions when buying or selling securi­
ties, loans, CD’s, etc.
These risk factors are important becasue goals must
be set according to the acceptable levels of associated
Goal-setting provides the targets or destinations
toward which bank operations are directed. However,
to reach these goals in the most efficient manner, a
map or plan of action must be made. The plan gives di­
rection for bank operations; without it, the bank’s
goals may never be attained.
The overall plan must be formulated to meet both
short-term and long-term goals. Accordingly, the plan­
ning process may be segmented into the following
1. Long-Range Strategic Planning
2. Asset/Liability Management
3. Budget/Profit Planning
1. Long-Range Strategic Planning is the formulation
of a broad plan of action to attain the bank’s long-term
goals. For example, a $20 million bank that wishes to
double in size within ten years must determine a speci­
fic strategy to accomplish that goal. The strategy may
be to expand commercial banking operations and re­
strict or reduce other areas of operations. Thus, longrange strategic planning is the “big picture’’ approach
to attaining long-term goals.
2. Asset/Liability Management (ALM) is the de­
tailed process of implementing specific short and long­
term operational strategies. ALM sets forth a specific
course of action based upon the bank’s goals and the
constraints set by long-range strategic planning. The
ALM planning process also entails analyzing how
changes in future interest rates will affect bank perfor­
mance. For example, ALM helps management deter­
mine whether a bank should issue fixed-rate or vari­
able-rate loans and/or whether it should pursue sixmonth CDs, 30 month CDs, etc. Furthermore, since
ALM gives a detailed plan of action, it provides feed­
back as to the reasonableness and feasibility of the
bank’s long-range plans and goals.
3. Budget/Profit Planning is generally considered a
short-term planning and performance evaluation func­
tion. It encompasses setting a short-term (yearly) bud­
get and monitoring and comparing actual results with
that budget. This process provides feedback for longrange and ALM strategies. For example, if, after a
year, a bank finds that its earnings are below par, it
may reset the priorities on its goals so that profitabili­
ty takes priority over growth. Accordingly, both longrange and specific ALM strategies may be modified to
redirect operations towards profitability.
In summary, long-range strategic planning addres­
ses “where do we (the bank) want to be in 1-10 years?’’
Asset/liability management is the action plan as to
“how do we get there?’’ while budget/planning addres­
ses “how did we actually perform compared to what we

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

As you can see, all three of these planning functions
are interrelated. Accordingly, close coordination of t h ^
three is essential for successful bank management.
Each function has a different emphasis, but they all
must work together. As illustrated in Figure 1, at the
heart of these functions is the ALCO Committee.

The ALCO Committee


The A sset/Liability Management Committee
(ALCO) is generally responsible for the bank’s ALM
policy. The ALCO formulates strategies and directs
bank management activities regarding ALM. It puts:
the “wheels into motion’’ to meet the bank’s goals. ®
Several excellent articles in financial institution
publications have been written on forming ALCOs,
ALM policies, etc. Refer to these articles for further
reading. In the meantime, here are some quick sugges^
tions for starting an ALCO.
The ALCO should be composed of key members of
your bank. The size and structure of your ALCO will
depend on the size and internal structure of your bank.
Generally, you should have a small, workable grouiv
composed of top representatives from each major banlv
function. Following are some typical examples of
Bank Size (In A ssets)
1) President
2) Sr. V.P. Loans
3) Sr. V.P. & Cashier
(These are perhaps
all 3 officers of
the bank

1) President
2) Sr. V.P. Loans
3) Sr. V.P. & Cashier
4) CFO or Controller
5) Marketing Officer

$150,000,000 plus


1) President
2) Sr. V.P. Loans
3) Sr. V.P. Investments
4) CFO or Controller
5) V.P. Operations
6) V.P. Marketing and ^
Public Relations
7) V.P. EDP

Initially, you may not think some individuals, such as
the marketing officers, should be included in an ALCO.
Later in this guide, we will show how these people p la ^
a key role in implementing ALM strategies.
2. Make sure all ALCO members understand ALM.
We’ve seen too many ALCOs in which only two of the
six or seven members truly understand ALM as a sub­
ject. The ALCO is the driving force behind ALM im ^
plementation. You cannot implement ALM if you
don’t understand it. Each ALCO member m ust under­
stand ALM and his/her role in the ALCO.
3. Formulate an ALM Policy. ALM policy is com­
posed of general guidelines which are consistent w itl^
your bank’s goals and acceptable risk levels. This
policy should clearly outline the objectives of the
ALCO and the various duties and responsibilities of
each ALCO member. The policy should be flexible to
accommodate changing conditions and new opportuni^
4. Monitor ALM performance. The financial officer
of the ALCO should report on the performance of your
ALM strategies. Planning is important, but equally
important is how actual results compare to the plan^
The monitoring function is essentially the budget/profit planning function as shown in Figure 1.
The second installment o f “Asset/Liability Manage­
ment’’ will be fe a tu re d in the October N o r t h w e s t e r ^






<|i“Cross Selling is the Key in
customer retention. Central
States has given us the
training in selling to
do the Job.”



— Robert Dewhurst,
Vice President - Cashier
First National Bank
Council Bluffs, Iowa

For More I nf or mat i on A bo ut
Our Cross Selling Program
Call Dick Moore Collect:
1 (4 0 2 ) 3 9 7 -1 1 1 1

the C redit Insurance D ivision of

Federal Reserve Bank of St. Louis

BOX 34350



Northwestern Banker, September 1984


Conquering the alien world of
international trade.



’ 1 c ^ *"vi *r

It could happen to you. One
day a valued business custom er
comes in for help w ith an import or
export transaction.
A nd suddenly you’re th ru st
into another world. A world popu­
lated by strange beings with mystify­
ing nam es like Standbys, A ggregate
Limits, Tenors and Tw o-Party
W hat to do? If you tu rn your
custom er away, he m ay take all his
business elsew here.
Fortunately th ere’s an easy
alternative. A phone call to Con­
tinental B ank.
Continental is a major factor
in international trade. In fact, w e’re
one of the few banks w ho are
m em bers of the International
C ham ber of Com m erce
headquartered in Paris.
We can provide every
financial service your custom ­
ers could need. From issuing
or participating in International
Letters of Credit to B ankers
A cceptances to C urrency H edg­
ing to D ocum entary Collections.
We do all the work. You
enhance your relationship w ith
your customer. A nd you collect a
w orthw hile fee to boot.
If that sounds good, w hy not
m ake that phone call now, before
that custom er comes in.
Call Robert B. Holland
at (312) 828-6620. Tell him you’re
looking for new worlds to conquer.

C o n tin e n ta l Illinois N atio n al B a n k a n d T ru st C o m p a n y of
C h icag o . 231 S o u th L aS alle S tre e t, C h icag o , Illinois 60697
A tla n ta • B o sto n • C h ic a g o • C le v e la n d • D allas *D e n v e r
H o u sto n • L os A n g e le s • M in n e a p o lis ■N e w York
O k la h o m a C ity • St. L o u is *S an F ra n c isc o *S e a ttle • W h ite P la in s

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

sonnel in the facilities and the safe
deposit department. In addition to
his responsibilities as division head,
Mr. Youngman will be responsible
for the sales and sales training pro­
grams and product delivery in all
consumer contact areas. He will also
be consumer compliance officer for
the bank.

Yorktown Appointment Told

James Forster Slated For IBA Presidency
^ T HE ILLINOIS Bankers AssociI ation Committee on Nomina­
tions has nominated James E. Fors­
ter, chairman and chief executive of­
ficer of The DeKalb Bank, to run for
0 the post of association president for
1985. G. Thomas Andes, president
of the First National Bank of Belle­
ville, has been named to run for vice
president. Harlan Yates, president
0 and chief executive officer of Cisne
State Bank, has been slated for
secretary, and John Luttrell, presi­
dent and chief executive officer of
The First National Bank of Decatur,
# will run for the office of treasurer.



The announcement was made to
% the committee at the July 25 board
of directors meeting in Chicago. The
board unanimously endorsed the
slate of candidates.
The IB A Committee on Nomina # tions also recommended, at the July
25 meeting, that the board consider
changing the by-laws for the pur­
pose of establishing a method of
presidential succession similar to
# those used by other trade associa­
tions. The committee, chaired by
Federal Reserve Bank of St. Louis

Donald Lovett, Dixon National
Bank, felt it would be desirable to
have such a process in place.
In other action, the board voted
unanimously to amend the by-laws
in order to establish a special oneyear seat on the board for the imme­
diate past president. This appoint­
ment will not require election or ap­
proval by the board members. The
immediate past president will now
serve as a voting member of the
board and of the executive commit­
The board also approved the
following dates and locations for the
Annual Convention through 1990.
They are:
1985 — Chicago;
1986 — St. Louis;
1987 — Peoria;
1988 — Chicago;
1989 — St. Louis;
1990 — Peoria.

Bruce W. Taylor has been ap­
pointed senior vice president at Bank
of Y orktow n,
Lombard, accord­
ing to Richard E.
Hamlin, chair­
man and CEO.
In his new po­
sition, Mr. Tay­
lor will be re­
sp o n sib le for
commercial lend­
ing activities, in­
cluding commer­
cial real estate. He has been a vice
president of the Lombard based
bank since 1983, and began his ca­
reer in banking at Main Bank of Chi­
cago in 1977.

American National Names
Cash Management Head

Ronald E. Fox has been appointed
assistant vice president in charge of
cash m an ag e­
m ent services
for R ockfordElmhurst Natl. Advances Two based American
National Bank
Frank C. Rathje, president of and Trust Co.,
Elmhurst National Bank, has an­ announced David
nounced the promotion of two vice K napp, p re s i­
presidents to division head status. dent and chair­
Janice E. Kinzel is the new head of man.
the consumer lending division and
Mr. Fox, with
Robert W. Youngman was made the bank since
head of the consumer banking divi­ 1960, had been serving as assistant
vice president-operations since
Janice Kinzel will be division head 1979. He joined the bank as an in­
of the consumer lending division, stallment loan representative.
which will contain the installment
lending, the real estate lending and
the student loan departments. In ad­ Elmhurst Banker Named
dition to her responsibilities as divi­
sion head, Ms. Kinzel will be a vot­ BMA Chapter President
Thomas F. Franklin, vice presi­
ing member of the senior loan com­
mittee and responsible for the main­ dent of corporate planning/markettenance of credit and administrative ing, Elmhurst National Bank, was
standards in the consumer contact recently elected president of the
Northern Illinois Chapter of the
Robert Youngman will be division Bank Marketing Association.
Mr. Franklin joined Elmhurst Na­
head of the consumer banking divi­
sion, which will contain the personal tional Bank in 1977 as marketing of­
banking department, the sales per- ficer.
Northwestern Banker, September, 1984


Illin o is N ew s

I BA Ag Credit Conf. — Sept. 19-20

P ro b lem
L o a n s ’’—D r. ^
Michael Boehlje, professor
of economics, Iowa State
fit A G R IB A N K IN G -L ooking
Protection and Profit for
University, Ames, Iowa.
Towards the 1990s” is the
Y our B a n k ’’—Illin iw ek
9:45 “ M arketing Commodities
theme for the Illinois Bankers Asso­
-Plan Development and the a
ciation Annual Agricultural Credit
“Nutrition Trends: Implica­
Use of Options”—Dr. Darrel
Conference set for September 19-20
tions for Agribusiness”—
Good, associate professor
at the Champaign Ramada Inn. Don
Grange Room.
and extension economics,
D. Hop wood, executive vice presi­ 3:30 Workshops repeated.
Department of Agricultural
dent of First National Bank of
5:30 Complimentary reception,
Economics, University of II- a
Petersburg, and chairman of the
Midwest Ballroom.
Agricultural Banking Committee,
6:30 Banquet, Midwest Ball­ 10:45 “Farm Forecast for 1985”—
has announced the following pro­
Dr. John F. Marten, staff
“A Woman in Ag Bank­
economist, Farm Journal
ing”—Leslie Miller, agricul­
Tuesday, September 18
Magazine, West Lafayette,
tural loan officer, Davis
C ounty S avings Bank, 11:30 Conference adjourns.
6:00 Early registration and get
Bloomfield, Iowa.
together, Brundage Room.
Musical entertainment.
Wednesday, September 19
New Director Elected
Thursday, September 22
Andrew McNally IV has been
8:00 R egistration, continental A.M.
to the board of First Illinois
breakfast, Convention Cen­ 7:00 Continental breakfast, Con­
Evanston. Mr. McNal­
vention Center Lobby.
ter Lobby.
and chief executive
9:00 First General Session, Illiniofficer
McNally and Com- £
wek Room.
headquartered in
“Relationship Management
Film: “AgriAmerica 2003”
-Getting Along with the
9:20 “ A g ric u ltu ra l L ending
C u s to m e r ’’—B ru n d a g e
Trends: Past, Present and
IBA to Sponsor Four
Future”—Dr. David Kohl,
“T by 2000 - Reaching Tole­ Executive Renewal Weekends •
associate professor of agri­
Soil Losses by the
The Illinois Bankers Association
cultural finance, department
2 0 0 0 ’’- I l l i n i w e k is sponsoring a series of four Execu­
of agricultural economics,
tive Renewal Weekends to be held at
Virginia Polytechnical Insti­
“The Farmer in Financial the Americana Resort at Lake Gene­
tute, Blacksburg, Va.
Trouble - What Led to it and va, Wisconsin. Dates for the upcom- ®
10:05 “ Farm land: Values and
How to Recover”—Grange ing weekends are:
Trends”—Dr. David Lins,
September 14-16
associate professor, Farmer
September 21-23
Financial Management, Uni­ 9:00 Second general session, Illi­
niwek Room.
September 28-30
versity of Illinois, Urbana.
“ M anaging A gricultural
October 5-7
11:05 ‘‘The Economic Outlook”—
Dr. Robert G. Dederick, ex­
ecutive vice president and
chief economist, The North­
ern Trust Company, Chicago.
Sales Award Program Implemented
Noon Reception, Midwest Ball­
12:30 Luncheon, Midwest Ball­
Presiding: Don D. Hopwood,
executive vice president,
The First National Bank of
Petersburg, and ag banking
committee chairman.
Remarks: Charles C. Wilson,
chairman and CEO, First
National Bank of the Quad
Cities, Rock Island, and
IBA president.
2:00 Concurrent Workshop Ses­
THE Bank & Trust Company of Arlington Heights recently implemented an award program
‘‘Micro Computer Applica­ for superior sales performance in promoting bank products and services. The first m onth’s
tions for Ag Lending”— “ Sales Person of the Month’’ were presented their cash awards by Bette B. Perna, sen. v.p.,
and James H. Bishop, pres. From left to right. Mark Romanowski, Therese Wojnar, Betty ^
Brundage Room.
Pond, Jean Koclanis, Mary Kay Phillips, Terry Bischoff, Bette Perna, and Jim Bishop. Miss- ®
“All-Risk Crop Insurance: ing from the picture: Elaine Langbein and Nora Zee.

Banker, September, 1984
Federal Reserve Bank of St. Louis


a ro u n d m o n e y th e fin e s t is








E s p e c ia lly d e s ig n e d fo r m a c h in e fillin g . . . a re a l tim e -s a v e r.
P acked fla t. In s ta n t p a te n te d " P o p O p e n ” a c tio n w ith fin g e r
t ip p re s s u re . D e n o m in a tio n s id e n tifie d b y c o lo r c o d in g . . . 6
d if fe r e n t s ta n d a rd c o lo rs .














P a cka ge c o n te n ts c le a rly id e n tifie d on fa c e s a n d edg e s b y
c o lo r c o d e d p a n e ls w ith in v e rte d a n d re v e rs e fig u re s . M a de
o f e x tra s tro n g s to c k to a s s u re u n b ro k e n d e liv e rie s . O n ly p u re
d e x trin e g u m m in g used.


E xtra w id e . . . e x tra s tro n g . D e sig n e d fo r a re a s w h e re h a lv e s
a re w ra p p e d in $20.00 p a cks . . . “ red b o rd e re d w in d o w ” fo r
e a se o f id e n tific a tio n . A c c o m m o d a te s $20.00 in d o lla rs , $20.00
h a lv e s . T a p e re d e dges.


W ra p s 4 d e n o m in a tio n s in h a lf size p a c k a g e s . A m in ia tu r e o f
th e p o p u la r " A u to m a tic W ra p p e r” . . . 25c in p e n n ie s , $1.00 in
n ic k e ls , $2.50 in d im e s , $5.00 in q u a rte rs .

C o lo r co d e d fo r q u ic k , e asy id e n tific a tio n . Red fo r p e n n ie s . . .
b lu e fo r n ic k e ls . . . g re e n fo r d im e s . . . to in d ic a te q u a n tity
a n d d e n o m in a tio n s . . . e lim in a te s m is ta k e s . T a p e re d e dg e s.



B a s ic c o in w ra p p e r in e x tra s tro n g k r a ft s to c k . P rin te d in 6
d iffe r e n t s ta n d a rd c o lo rs to d if f e r e n t i a t e d e n o m in a tio n s .
T r i p le d e s ig n a t io n th r o u g h c o lo rs , p r i n t i n g a n d le tte rs .
T a p e re d e dg e s.

A m o u n ts a n d d e n o m in a tio n s a u to m a tic a lly i n d i c a t e d b y
p a te n te d " r e d b o rd e re d w in d o w s ” . A m o u n t s in w in d o w s
a lw a y s in re g is te r . . . e lim in a te s m is ta k e s . A c c o m m o d a te s
a ll c o in s fro m l c to $1.00.



E n tire s tra p is c o lo r co d e d to id e n tify d e n o m in a tio n . P rin te d
a m o u n t a p p e a rs on to p a n d b o tto m o f p a cka g e . E xtra w id e
fo r m a rk in g a nd s ta m p in g . E xtra s tro n g s to c k fo r s a fe d e liv e ry
a n d s to ra g e . P ure d e x trin e g u m m in g .


Id e a l fo r p a c k in g c u rre n c y , d e p o s it tic k e ts , c h e c k s , e tc . . . . d o n o t b re a k
o r d e te rio ra te w ith age. Size 10 x % in c h e s a n d m a d e o f s tro n g b ro w n
K ra ft s to c k w ith g u m m e d e n d fo r ease o f s e a lin g . P acked 1000 to a c a rto n .

TH E C. I-.

Federal Reserve Bank of St. Louis













Northwestern Banker, September, 1984


Illin o is N ew s

ICBI Plans Tenth Annual Convention
nity Banks of Illinois will hold
its Tenth Annual Convention Sep­
tember 23-25 at Indian Lakes Re­
sort in Bloomingdale. An exciting
line-up of speakers has been planned
for this year’s convention, which
promises to be “The Ultimate
Learning Experience Amidst the
Midwestern Tropics.’’ The program
schedule follows:
Sunday, September 23
10:00 Registration opens.
10:30 Annual golf tournament,
Iroquois Trail & Sioux Trail
4:30 E x h ib its open, N avajo
7:00 Casino Night Gala, dinner
and Las Vegas games,
Blackhawk and Cheyenne
Monday September 24
7:00 Registration and exhibits
open. Drovers Breakfast,
Blackhawk Room.
8:30 First session, Apache Room.
Welcoming remarks, ICBI
President David Combs,
president, First National,
8:35 “ A sset/Liability Manage­
ment’’—James Baker, presi­
dent, James Baker & Associ­
ates, Oklahoma City.
10:15 “ Fee Income Opportuni­
ties’’—Otto Lombardo, pres­
ident, AFI Financial, Inc.,
Cleveland, Ohio.
12:00 Luncheon, Blackhawk/Cheyenne Rooms.
Ed Foreman, president, Ex­
ecutive Development Sys­
tems, Dallas Texas.
1:30 Washington Report, Apache
Report from IB AA First
Vice President B.F. “Chip’’
Backlund, president, Bar­
ton ville Bank.
1:45 “Latest Developments in
W a s h in g to n ” —K en n eth
Guenther, IBAA executive
director, Washington, D.C.
2:30 Annual ICBI business meet­
ing, Apache Rooms.
8:00 Entertainment and dancing,
“Sunshine Express.”

'¿anker, September, 1984
Federal Reserve Bank of St. Louis

Tuesday, September 25
8:00 Registration and exhibits
8:30 Second session, Apache
“ Regulatory Enforcement
Proceedings” and “ Un­
friendly Bank Takeovers”—
Leonard Rubin, IBAA legal
counsel, Washington, D.C.
10:15 Second session continued.
“Practical Ways to Immedi­
ately Improve Income and
Profits” —Robert Martindale, president, Hughes,
Martindale & Associates,
Arlington Heights.
11:30 Convention adjournment. □

Named in Rockford
William T. Hippensteel has been
named assistant vice president-di­
rector of market­
ing by Rockfordbased American
National Bank
and Trust Co.
Mr. Hippen­
steel joins Amer­
ican Bank after
five years in various officer posi­
tions with Old
Trust Company, Grand Rapids,
Mich. For the past two years, he
served as assistant vice president in
charge of product development.

sibilities for the firm’s seminar an d ^
workshop profit center and work
closely with state and national bank­
ing and thrift associations. Prior to
joining FSC, he was assistant vice
president of Broadway National^
Bank, Quincy.

Promoted in Skokie
James R. Slack has been pro-^
moted to senior vice president of theW
support services
division of First
National Bank
of Skokie.
Mr. Slack has
been with the
bank since 1968,
e x ce p t for a
14-month period
in 1971-72 when
he worked with a
family business.
He is a graduate of Carroll College
and received a master’s degree from ^
Wayne State College.

Three Promoted in Sterling
Joseph D. Henderson, president
of First National Bank of Sterling,
re c e n tly
nounced the pro­
motions of Elaine
K. Hand to as­
sistant vice pres­
ident, Gary A.
Roth to assis­
tant vice presi­
dent and auditor,
and Nancy A.
Melton to assise . k . HAND
tant cashier.

Robert Dye Promoted
At Financial Shares Corp.
Robert D. Dye has been promoted
to senior vice president, Financial
Shares Corpora­
tion, Chicago.
Mr. Dye joined
FSC in 1977 as
a ss is ta n t vice
president of the
firm’s marketing
division. He was
elected vice pres­
ident in 1978
and has since
been responsible
for marketing planning, research
analysis, and product design and
pricing consultation. In this new po­
sition, Mr. Dye will also add respon­



Ms. Hand, now assistant vice
president in operations, started her £
banking career with First National
in 1975.
Mr. Roth has been auditor for
First National since 1979. He started
with the bank in 1976.
Ms. Melton, now assistant cash-

ier, began her career in banking with
First National in 1974, and became
head teller in 1983.

Menomonee Falls Names Two First Wisconsin
Richard P. Klug, president of Promotions Announced
F&M Bank Menomonee Falls has
announced a change of assignments
in two of the bank’s branches.
Robert J. Sielaff, vice president,
personal banking manager of the
Lannon Office has been named vice
president, personal banking man­
ager of the bank’s Lake Five Office.
Michael J. DeLany, vice president,
personal banking manager of the
Lake Five Office, has been named
vice president, personal banking
manager of the Bank’s Lannon Of­
G. Joseph Keller has been elected fice.
vice president and senior loan officer
Valley Bancorporation
L a k e sid e
Bank, announced
Restructures Organization
John R. Montgo­
It was recently announced by Gus
mery III, presi­
A. Zuehlke, chairman and chief exec­
utive officer of Valley Bancorpora­
Prior to mov­
tion, that the company has insti­
ing to Chicago
tuted a restructuring plan that calls
last year, Mr.
for three regional vice presidents
Keller served as
and a financial services vice presi­
tr e a s u r e r for
dent. Under this approach, current
American Enka,
Valley banks will be geographically
a major manu­
clustered into three regions report­
facturer of synthetic yarns and fab­ ing to a regional vice president. All
ric located in Asheville, N.C.
financial service companies except
* * *
for Valley’s insurance unit will re­
port to a financial services vice pres­
Under the plan, the three regions
Amalgamated Trust & Savings
Bank recently elected Robert G. created are the Central, Northern
Santangelo as assistant vice presi­ and Southern region. The central re­
dent. In addition, Orema J. Roark gion will be headed by Richard H.
and Joseph N. Gomez joined the Jones, president, Valley Bank, Ap­
bank as marketing officers.
The northern region would be
Mr. Santangelo, who will serve in
commercial loans, previously was headed by Peter M. Platten, III,
with Mount Prospect State Bank, president, Valley Bancorporation.
The southern region will be
where he began his career in 1978
and most recently was a commercial headed by Richard F. Meloy, presi­
loan officer.
dent, Valley Bank of Hartford. The
Ms. Roark joins the bank from Financial Services group will be
Continental Bank, where she was a headed by Mark L. Miller, president,
cash management representative. Valley Trust Company. This group
Mr. Gomez had been serving as pres­ will include financial service activi­
ident of International Agents, Ltd., ties to include trust service, leasing,
a financial and sports talent consult­ brokerage, reinsurance and mort­
ing firm.
gage banking.
Federal Reserve Bank of St. Louis

The board of First Wisconsin Cor­
poration, Milwaukee, recently an­
nounced the promotion of Thomas
M. Janke to vice president and Bar­
bara M. Nelson and David Reddemann to assistant vice president.
James L. McCormick was appointed
administrative support officer and
Kathryn D. Kohler and Joan M.
Fagan were elected attorneys.
Mr. Janke is head of auditing for
electronic data processing. Ms. Nel­
son is audit officer. Mr. Reddemann
is loan review officer.
Michael E. Batten, president and
CEO of Twin Disc, Inc., Racine, has
been elected to the corporation’s
board of directors.
First Wisconsin National Bank of
Milwaukee recently elected Thomas
I. Dolan, chairman and CEO of A.O.
Smith Corp., to its board. He suc­
ceeds Lloyd B. Smith, who resigned
but will remain on the corporation’s

WBA Assistant
Accepts MPI Position
Dawn A. Block, assistant to the
director of the Wisconsin Bankers
Association, was
installed as vice
nal affairs for
M eeting Plan­
n ers I n te r n a ­
tio n al a t the
group’s annual
business meet­
ing in Washing­
ton D.C., late in
Ms. Block’s responsibilities will
include membership growth and
maintenance as well as chapter rela­
tions. She is a member and past
president of the Wisconsin Chapter
of MPI.
Northwestern Banker, September, 1984

We extend more than credit.
We extend ourselves.
We’re known in the corre­
spondent banking business as
professionals you can and do rely
on time after time —whether
seeking an overline loan, looking
for help with cash management,
or selling your bank. That’s

because every F&M Marquette
correspondent banker has years
of experience and an established
reputation for trust and confiden­
tiality. We built our corre­
spondent reputation on personal
service. Ana even though w e’ve

grown to be a billion dollar bank,
our philosophy hasn’t changed.
Extending ourselves for you is
our way of life. Call us for all
Correspondent Banking services
at 612/341-6561.

A F&M Marquette National Bank
Correspondent Banking

Banker, September, 1984
Federal Reserve Bank of St. Louis

of Litchfield has applied to convert
to a national charter under the pro­
posed title of First Bank Central,

G .T. Pate, pres., W est St. Paul
T.L. Jeffers, exec, v.p., M inneapolis

First Bank System
Foundation Awards Grants

First Bank System Foundation
announced that it recently awarded
grants totaling $316,750 to 29 non­
profit organizations in Minnesota,
Montana, North Dakota and South
1984 Minnesota District Meetings
In Minnesota, $265,250 was
September 17-20 and 24-26 are the dates set for the 1984 Minnesota
awarded to 13 organizations, includ­
Bankers Association District Meetings. The afternoon program will
ing major contributions to the St.
feature a special session on the Bankruptcy Amendments and Federal
Paul Ramsey United Arts Council;
Judgeship Act of 1984 presented by Michael Stewart, attorney, Faegre
the Actors Theatre of St. Paul; Con­
and Benson, Minneapolis, in addition to updates on MBA educational
cordia College; Northwestern Col­
legislative, and insurance programs. Each district will also conduct
lege; and Junior Achievement.
district business including the election of district officers (and board
In addition, grants ranging from
members for districts 7, 8, and 9) and nomination endorsement for
$5,000 to $10,000 were made to the
1985-86 MBA officers.
following seven Minnesota organiza­
Galen T. Pate, MBA president and president of Signal Hills Bank,
tions: Children’s Home Society, St.
West St. Paul, will preside over the evening session which will include
Paul; Mental Health Advocates Co­
a social hour and dinner, followed by an address titled “Would You
alition, St. Paul; Minnesota Agricul­
Like Working For You?” by J.N. “Chris” Christianson.
tural Interpretive Center, Waseca;
Minnesota Alliance for Science,
September 17
Sunwood Inn, St. Cloud
Minneapolis; Minnesota Opera, St.
September 18
Hibbing Inn, Hibbing
Paul; Twin Cities Opportunities In­
September 19
Ramada Inn, Moorhead
dustrialization Center, Minneapolis,
September 20
Radisson South, Bloomington
and West Central Community Ser­
September 24
Rochester Golf & Country Club
vices Center, Willmar.
September 25
Orchid Inn, Sleepy Eye
Another $29,500 was given to 11
September 26
Best Western, Marshall
shelters for battered women and
children throughout the state.
Grants totaling $22,000 were
made to five organizations in Mon­
recently received promotions. Elea­ tana, North Dakota and South Da­
•Elected in Fergus Falls
Darlene Hanson has been elected nor Kaphing and Jody Kolashinski kota.
administrative officer of Norwest were promoted to personal banking
Blue Earth President Named
B ank, F ergus
Ms. Kaphing joined the bank in
Falls, N.A., ac­
First Bank Blue Earth has elected
1977, serving as a teller and as assis­
c o rd in g to Char­
August A. Williams president. He
les L. KretchKolashinski started at the bank in succeeds Peter
man, president.
L. Hollister, who
1976, also as a teller.
Ms. Hanson
has accepted a
joined the bank’s
position with Se­
C ta ff in 1970 and
Consolidations Approved
c u rity
S ta te
has served in
Several consolidations were re­ Bank of Cannon
various capaci­
cently approved by the Comptroller Falls.
ties since that
Mr. Williams
the Currency.
time. Prior to
Approved was the proposed con­ previously was
C h a t she was with First State Bank solidation of First Bank Pipestone senior vice presi­
in Minnesota.
with First National Bank of Lu- dent of agricul­
verne, under the charter of the latter tural lending at
Bayport Celebrates 70th
and the title of First Bank Luverne, First Bank Rochester. He has been
• The First State Bank of Bayport N.A.
associated with First Bank Roches­
noted its 70th anniversary in June
Also approved was the consolida­ ter since 1962 and has held a variety
with a week-long celebration that in­ tion of Norwest Bank Eveleth, N.A. of positions in the personnel and
cluded an antique and classic car and Norwest Bank Virginia, under operations area of the bank. Mr. Wil­
show, prizes, and a Picnic on the the charter of the former and the ti­ liams was elected vice president and
tle of Norwest Bank Mesabi, N.A.
cashier in 1974 and has served in his
In other action, First State Bank present position since 1983.
Two First State Bank employees
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984


J. Scott Hutton, president of First
Bank Edina, has announced that
Steve Hatzung
has been named
executive bank­
ing officer, ex­
ecutive and pro­
fe ssio n a l s e r­
vices. He had
previously served
p e rs o n a l
banking officer
and manager of
the Vernon Ave­
nue Office.
Mr. Hatzung has been employed
at First Bank Edina since 1978,
where he has held a variety of posi­
tions in the personal banking and
sales finance departments.
* * *
Margaret Hall-Brown has been
named manager of Nor west Bank
St. Paul’s Arden
Hills Office. Ms.
Hall-Brown re­
places John Hall
who was pro­
moted to consu­
mer banking di­
vision manager
at the bank’s
main office in
downtown St.
Ms. Hall-Brown, a graduate of the
University of Minnesota, joined
Norwest Bank in 1978 and was
named assistant manager of the
Arden Hills Office in 1980.
* * *
Bremer Financial Services, Inc.
has announced the promotion of
William B. Naryka to senior vice
president/chief financial officer, and
the addition of Lyle C. Sorum as vice
president/director of marketing.
Mr. Naryka joined Bremer in
1982 as vice president/controller and
for FRASER Banker, September, 1984
Federal Reserve Bank of St. Louis

was named chief financial officer in
January of this year.
Mr. Sorum previously was presi­
dent and chief executive officer of
First Bank-Grand Forks, N.D. He
also served First Bank System as a
vice president and manager of train­
ing in Minneapolis.
* * *
James E. Burrets has been ap­
pointed vice president of Norwest
Bank Minneapolis, N.A., in the ser­
vice industries area.
Mr. Burrets joined the bank in
1978 as manager of credit adminis­
tration in the dealer finance area. He
came to Norwest Bank Minneapolis
from Norwest Bank Old St. Antho­
ny and prior to that was with Nor­
west Bank St. Paul.
Also at the bank, P. Gerald Mills
has joined the board of directors. He
is chairman and chief executive of­
ficer of Dayton Hudson Department
Store Company and executive vice
president of Dayton Hudson Corpo­
* * *
First Bank Minneapolis recently
announced that it has acquired a
partnership interest in W. Ross
Campbell Co., the Los Angelesbased commercial mortgage banker.
Terms were not disclosed.
According to John C. Ferber, se­
nior vice president of FBM’s real
estate department, the acquisition
provides First Bank System with a
real estate presence in the Southern
California market.
Mr. Ferber said W. Ross Camp­
bell Co., founded in 1905, is one of
the West Coast’s leading commer­
cial mortgage banking companies.
WRC’s three principals, Chair­
man Eugene Zak, President Steven
H. Hammer and Senior vice Presi­
dent Everett L. Crawford, will con­
tinue in those capacities.
WRC’s main office is located at

10900 Wilshire Blvd. in Los Ange^
les, with a branch office at 2 10 r
Business Center Drive in Irvine,
* * *
Robert T. Knopke has joined Nor­
west Leasing, Inc. as vice president/
credit. He pre­
v io u sly
p re s id e n t
F irst National
Bank of Beresford, S.D., and
for ten years was
with American
National Bank
of St. Paul in its
c o rre sp o n d e n t
b a n k in g and
bond departments.
As manager of Norwest Leasing’s
credit department, Mr. Knopke will
be responsible for credit approval,
documentation and portfolio super­
* * *
St. Anthony Park Bank, St. Paul,
recently announced the addition of a
new officer to
the bank’s lend­
ing department.
Craig W. Schirm
has joined the
bank as senior
m ortgage loan
Mr. Schirm is
a native of Cedar
Rapids, Iowa,
where he gradu­
ated from Coe College with a bache­
lor’s degree in accounting. Most re­
cently, he was associated with Old
Stone Mortgage in Edina as a loam
* * *
F&M Marquette National Ban]^
has announced the following promo-


Beware the wolf
in sheep’s clothing
n today’s competitive environment, we believe it is
important for the independent community banker to
closely evaluate his upstream correspondent relation­
ships. Are you dealing with a partner that doesn’t com ­
pete for your customers and is sincerely interested in
helping you succeed, or are you dealing with another
kind of animal that takes your money to Minneapolis
and then uses it to steal your customers for its local
affiliated bank?


At American, we have the resources to be your corre­
spondent partner, and the desire to help you succeed.
We do not use your money to com pete for your

Federal Reserve Bank of St. Louis

B A N K *



Northwestern Banker, September, 1984

M in n e s o ta N ew s
tions: Molly Deshotels to interna­
tional banking officer and assistant
credit manager, and Michael Gough
to credit officer.
Ms. Deshotels previously served
as a credit analyst. She holds a mas­
ter of business administration de­
gree, with an emphasis in finance,
from the University of Wisconsin,
Milwaukee. She also holds a bache­
lor’s degree in psychology from Mar­
quette University, located in Mil­
waukee, Wis.
Mr. Gough, who previously served
as a credit analyst, holds a
bachelor’s degree in business admin­
istration and accounting from the
College of St. Thomas, located in St.
* * *
National City Bank of Minneapo­
lis recently announced the following
changes to the bank’s official staff.
Promoted to new positions were:
Steven J. Eckstein, assistant vice
president, group A, and Colette B.
Ingle commercial banking officer,
group B, both in commercial and in­
dustrial relationships.


F&M Marquette to Host Conference


&M Marquette National Bank of
Minneapolis has announced its

pany to derive maximum earnings
benefits. Mr. Costley, head of the
firm’s banking department, is an ex­
Investment Con­
pert in the fields of mergers, acquisi#
ference will be
tions and bank reorganizations as
held October 18
well as the formation of single and
and 19 at the
multi-bank holding companies.
Hyatt Regency
Gerry Spiess, noted adventurer
Hotel in down­
from Minnesota, will be the lu n #
town Minneapo­
cheon speaker. He will relate how his
solo voyages across the Atlantic and
P a rtic ip a n ts
Pacific brought him self-knowledge
in the conference
and discipline that can be of signifi­
will be welcomed
cant value in less exotic pursuits. •
by Carl Pohlad, president and chief
Other scheduled speakers will ad­
executive officer, who also will ad­ dress topics ranging from asset lia­
dress the general session. Other of­ bility management, the present and
ficers of F&M Marquette participat­ near-term future of the agricultural
ing in the conference will be Philip economy and new approaches tc#
Gallivan, senior vice president, and bond management.
Bill Klein and Jack Campion, vice
In keeping with the conference’s
theme of bringing bankers varied
The keynote address will be deliv­ perspectives, the conference also
ered by David M. (Davey) Jones, will be addressed by Dr. James L.®
senior vice president of Aubrey G. Reinertsen, who was responsible for
Lanston & Company of New York, much of the program development
Chicago and Boston. Author of the of SHAPE, Inc., of which he is presi­
Lanston financial newsletter, Mr. dent and medical director. Dr. Rein­
Jones is a highly respected interna­ ertsen will speak on the topic oi®
tional economist, “Fed watcher” “Performance Through Wellness”
and sound predictor of interest rate and explain the cause-and-effect re­
lationship between employee health
The theme of the conference is and employee performance.
“Perspectives ‘84: Banking on Per­
Last year’s conference was at­
formance and Profitability.”
tended by more than 300 bankers
Kevin Costley, a partner in the from throughout the Upper Mid­
Minneapolis law firm of Lindquist & west. Conference organizers expect
Vennum, will speak on various 400 to 500 bankers to attend thisy.
methods of utilizing a holding com­ year.


Mr. Eckstein, previously a com­
mercial loan officer and assistant
manager of the Southdale Office,
has been with National City Bank
since 1982. He is a graduate of
Augsburg College where he received
his BA.
Ms. Ingle, previously an execu­
tive and professional banking offi­
cer, is a graduate of University of
California - Berkley. She started
with National City Bank in 1980 in
the area of personal banking.
* * *

been named a vice president and will
have responsibility for the bank’s^
personnel department. He joined theW
Bank in 1974 as a management
Marquette National Bank at Uni­ science analyst and most recently
versity, Minneapolis, has appointed was promoted to assistant vice pres­
Joseph R. Jensen as assistant vice ident of planning and control in 1980.0
president and manager of the loan
John H. Boyd has been promoted
to research officer for banking and
Mr. Jensen joined the bank in regional studies. He joined in 1982
1981 and has over nine years of as a senior economist and was
banking experience, most of which nam ed senior econom ist a n d ^
has been in the loan department.
manager of banking and regional
studies earlier this year.
Jean C. Garrick has been pro­
Minneapolis Fed
moted to assistant vice president for
John A. Goodlad has been pro­ Promotions Announced
planning and control. She started in£
moted to national bank examiner.
The Federal Reserve Bank of Min­ 1973 as an accounting analyst and
A graduate of University of Min­ neapolis has named a new vice presi­ most recently was named manager
nesota, Mr. Goodlad has been with dent and announced the promotion of the discount department.
the Comptroller of the Currency of six individuals to the bank’s of­
Bruce H. Johnson has been pro­
since 1979, most recently as an asso­ ficial staff.
moted to an assistant vice president^
ciate national bank examiner. He
Theodore E. Umhoefer, Jr., has in automation and communication

Banker, September, 1984
Federal Reserve Bank of St. Louis

will remain headquartered in Min­
* * *


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5075 Wayzata Boulevard, Minneapolis MN 55416
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984

M in n e s o ta N ew s
services. Mr. Johnson joined the
bank in 1980 as technical support
group manager.
Richard W. Puttin has been pro­
moted to assistant vice president in
the check department. Since joining
the bank in 1968, he has held various
positions including manager of in­
terbank communications and man­
ager of electronic payments.
Thomas M. Supel has been pro­
moted to assistant vice president in
the personnel department. He started
with the bank in 1964 as an econo­
Carolyn A. Verret, promoted to
an assistant vice president in
automation and communication ser­
vices, joined the bank in 1981 as a
senior systems analyst. She was
named group manager in 1982.
In other changes, the bank an­
nounced that Colleen K. Strand, vice
president of the money and securi­
ties departments, has been assigned
additional responsibility for a newly
formed electronic payments and ser­
vices department. James R. Taylor,
vice president of personnel, will be­
come vice president of planning and
control. Marilyn C. Brown, assistant
vice president for automation and
communication services, will as­
sume the position of assistant gen­
eral auditor. Caryl W. Hayward, as­
sistant vice president in the check
department, will become assistant
vice president for electronic pay­
ments and services.

Benson Addition Announced
Paul W. Gandrud, president of
Swift County Bank, Benson, has an­
nounced the ad­
dition to the
staff of Sy Foss
as a vice presi­
dent and senior
loan officer.
A native of
Heimdal, North
D a k o ta ,
M r.
Foss was em­
ployed by the
F irst National
Bank in Grand Forks, N.D. for 14
years, and then joined the Bremer
Financial Corporation serving six
years as vice president in Brainerd;
nine years as president in Wash­
burn, Wis., and six years as presi­
dent of the First American Bank &
Trust Co. of Willmar, prior to join­
ing Swift County Bank.

Banker, September, 1984
Federal Reserve Bank of St. Louis

MBI Elects 1985 Class Representatives

MBI 1985 class state representatives with Wayne Berthiaume, MBI Administrator: Hal
Everett, University of Minnesota, St. Paul; Mike Jamison, First Natl., Miles City, Mont, (who
will also serve as 1985 class representative on the MBI board); Kyle Olsen, First Natl.,
Devils Lake, N.D.; Gary Williams, McCook County Natl., Salem, S.D., and Rolland Schmidt!

The Bank of New Glarus, Wis.

T the Midwest Banking Insti­
tute July 22-27 at the Univer­
sity of Minnesota, Morris, 1985
class representatives were elected.
The Institute is sponsored by the
state bankers associations of Minne­
sota, Wisconsin, North and South
Dakota and Montana. Each year one
class representative from each state
is elected. This year the state repre­
sentative from Montana, Mike Jam ­


ison, First National Bank, Miles
City, will also serve as board mem­
ber for a five year term. The other
four representatives are: Hal Ever­
ett, University of Minnesota, St.
Paul; Rolland Schmidt, The Bank of
New Glarus, Wisconsin; Gary Wil­
liams, McCook County National
Bank, Salem, South Dakota; and
Kyle Olsen, First National Bank,
Devils Lake, North Dakota.

According to William F. Farley,
vice president and chief fi­
James H. Ryan has been ap­
pointed vice president, marketing/ nancial officer, “The repurchase of
FBS eliminates the uncertainty in
retail banking,
market surrounding the eventu­
for R ich field
plans of IDS Life.”
Bank & Trust
First Bank
Co. The newlySystem
of equity
created position
includes respon­
sibilities for all
marketing acti­
value of First Bank System common
vities, retail cus­
shares was $34.48.
tom er contact
areas and coordi­
Hopkins Election Announced
nation of train­
The board of directors of First w
ing for bank personnel.
Bank Hopkins has elected Greg
Adamich assis­
FBS Stock Repurchase
tant vice presi­
First Bank System, Inc., Minnea­ dent in the sales
polis, announced recently it has re­ finance depart­
purchased 2,900,000 shares of its ment.
common stock from IDS Life Insur­
Most recently
ance Company, a wholly owned sub­ sale s fin an ce
sidiary of IDS/American Express, re p re se n ta tiv e
Inc. These shares were repurchased with First Bank
at $25.00 per share for a total pur­ Robbinsdale, Mr.
chase price of $72.5 million. The Adamich began
block represents approximately his banking ca­
9.6% of the outstanding common reer in 1979 with First Bank Robstock of FBS.

Appointed in Richfield


Four Advanced At
First Bank of South Dakota

Program Schedule Set
^For SDBA Group Meetings
September 17 through September
21 are the dates for the South Da­
kota Bankers Association Group
Meetings, to be held at five locations
^around the state.
Each meeting is set to begin with
registration from 2:00-2:30 p.m.
John A. Haerter, SDBA president,
and president of Farmers State
#B ank, Hosmer, will open the meet­
ing at 2:30, followed by “The
Growth of Security-Related Law­
suits Against Banks, CEOs and Di­
rectors,” presented by Gerard J.
•K enna, president, Profit Protection,
Inc., Miami, Fla.
At 5:00, Russell G. Hendrix, vice
president of Insurance for South Da­
kota Bankers Insurance Services,
• Pierre, will give an “Update on
South Dakota Bankers Association
Insurance Services.”
A reception and social hour at
6:00 will be followed by dinner at
• 7:00.

The board of directors of First
Bank of South Dakota (N.A.), Sioux
Falls, has advanced four officers,
Dennis Holzwarth and Stephanie
Mundhenke were named vice presi­
dent, and Dennis Daugaard and
Daniel Murphy were advanced to as­
sistant vice president, all at First
Bank of South Dakota trust depart­
ment, in Sioux Falls.
A graduate of the University of
Sunset Branch, all in Sioux Falls.
South Dakota, Mr. Holzwarth joined
Ms. Henneous joined the bank as First Bank of South Dakota as a
a teller and was promoted to opera­ management trainee in 1974. In
tions officer in 1973.
1977 he was elected assistant invest­
Ms. Bethke joined the bank as a ment officer and was promoted to in­
management associate, receiving vestment officer in 1982. In 1983 he
promotions in both 1980 and 1984. was advanced to assistant vice pres­
Ms. Mundhenke received her un­
dergraduate degree from Augustana
College and her law degree from the
University of South Dakota. Her
banking career began in 1979 when
she was elected trust administrator.
A year later, Ms. Mundhenke was
named trust officer and was proM. SNYDERS


Mr. Snyders joined as a retail
banking officer in January of this
Mr. Sandvig most recently was
manager of the home ownership pro­
gram with South Dakota Housing
Development Authority in Pierre.

Two Appointed in Canton

Farmers State Bank, Canton, has
Luverne H. HammerThree Advanced, One
strom and Bruce D. Anderson as
Elected in Sioux Falls
0 First Bank of South Dakota,
Mr. Hammerstrom, a vice presi­
N.A., Sioux Falls, has advanced dent for the bank, has been with
three officers and elected one officer. Farmers State for 28 years.
Doris Henneous has been pro­
Mr. Anderson joined the bank in
moted to assistant vice president at July of last year as vice president.
# th e main office; Brenda Bethke and He previously was with Farmers
Mike Snyders have been named as­ State Bank of Marion where he had
sistant vice presidents at the Sunset been the last 12 years. His most re­ moted to pension trust officer in
Branch, and Scott Sandvig has been cent position in Marion was presi­
1981. She was named assistant vice
elected real estate loan officer at the dent.
president in 1983.
Mr. Daugaard joined the bank’s
Iroquois V.P. Resigns to
trust department in 1981 as a trust
Accept Examiner Position
administrator. In 1982 he was elected
Milton R. Siebelts, vice president personal trust officer.
Mr. Murphy received his BA de­
of the Farmers & Merchants State
Bank, Iroquois, has resigned to ac­ gree at Sioux Falls College and his
cept a position with the South Dako­ law degree from the University of
ta Banking Commission as an exam­ South Dakota. He joined the trust
department in January, 1982, and
Mr. Siebelts had been with the was elected trust officer later that
bank 24 years.



Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984

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", 4 * • ;


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They’ve been swallowed up.
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Cando President Elected

NDBA Group Meetings
Set For September 24-27

The board of First Bank Cando
has elected Steven A. Grell presi­
dent effective August 15. He suc­
ceeds Wayne N. For gey who ac­
cepted a position earlier this year as
president of a bank in Mandan. Mr.
Grell had been serving as president
of First Bank Pipestone.
Mr. Grell began his career with
First Bank System in 1973 when he
joined First Bank Rolla. He was ap­
pointed assistant cashier and assis­
tant manager of the installment loan
department in 1974 and was pro­
moted to department manager in
1975. In 1976, he joined First Bank
Worthington, Minn., as assistant
vice president and commercial lend­
ing officer. He has been associated
with First Bank Pipestone since
1980 when he joined the bank as vice
president and second officer. He has
served in his present position since



new Westby Station. The bank also
has stations located in Columbus
and Lignite.
The North Dakota Bankers Asso­
Brenda Ryals from the Westby
ciation 1984 Group Meetings are community has been appointed
scheduled to be held four consecu­ manager of the station. A part-time
tive days in September at locations assistant will be named sometime in
around the state.
the future.
The Northeast group will meet
September 24 at Legion Club in
Grafton. Northwest group meeting
is set for September 25 at Ramada Education Director Hired,
Inn, Minot. The Southwest group New Position for NDBA
will meet September 26 at Holiday
Cheryl A. Thompson has joined
Inn, Dickinson, and the Southeast the North Dakota Bankers Associa­
group meeting is scheduled for Sep­ tion in Bismarck
Two Banks Increase Capital
tember 27 at the Eagles Club, Valley as education di­
In a recent report from the De­
partment of Banking and Financial
Each meeting will begin at 2:30
Institutions for North Dakota, it +
In this newlyp.m. with opening remarks from established posi­
was announced that United Bank of
each group’s respective president. tion, she will
Bismarck increased capital from
NDBA President Les Nesvig, presi­ plan programs
$2,650,000 to $3,960,000 by stock
dent, First State Bank, LeMoure, of information,
dividend, and Bank of Turtle Lake
will follow with his talk on “State of training and edu­
increased capital from $300,000 to #
Your NDBA and Federal Legisla­ cation to NDBA
$600,000 by stock dividend.
tive Update.” At 3:00, Keith Mag- member b ank­
It was also reported that the pay­
nusson, NDBA associate director/ ers, serving as C.A. THOMPSON
ing and receiving station of The
staff counsel, Bismarck, will talk staff director for the North Dakota First State Bank of New Rockford
about “The Federal Bankruptcy School of Banking, coordinating located at Fort Totten, was discon- •
Amendments — What Now for the NDBA’s educational programs with tinued as of June 15.
those of the American Institute of
At 3:30, featured speaker Robert Banking, and affiliating NDBAD. Dye, senior vice president, Finan­ sponsored schools with the Profes­ Banking Board Policy Change
cial Shares Corporation, Chicago, sional Development Program of the On Number of Directors
will present “Action Planning for American Bankers Association.
At its July 12 meeting, the North
1985 — Bank Productivity and Pric­
Ms. Thompson is originally from Dakota State Banking Board voted
ing.” Following Mr. Dye, Harry Sharon. She received a bachelor of to change its policy requiring that a
Argue, NDBA executive director, science degree in Secondary Educa­ bank’s Articles of Association speci­
will present a “State Legislative tion from the University of North fy a set number of members on its
Issues Outlook,” with the afternoon Dakota in December 1976.
board of directors. From now on, a
rounding off with the group busi­
While attending South Dakota state-chartered bank will no longer
ness meeting and election of officers/ State University in Brookings for be required to do so. The Articles of
NDBA executive council members.
further education, she was employed
Social hour will begin at 5:30 fol­ at First National Bank in Brook­ Association will be allowed to con­
provisions providing for the
lowed by dinner at 6:30 and remarks ings. From September, 1978, until tain
bank to have any number of direc­
by the group president at 7:30. Ten­ May, 1979, Ms. Thompson taught at tors from three to 25, as specified in
tative adjournment set for 7:45.
Washington High School in Sioux the North Dakota Century Code
(Section 6-03-02(5)).
As existing banks decide to
First National, Crosby
Bank, Brookings, in June, 1979, as a change the size of their boards of
Opens Westby Station
teller, teller supervisor and for the directors, they may wish to amend
Gideon Raile, president of First last three years worked as assistant their articles to include a provision
National Bank of Crosby, has an­ marketing officer and personal bank which provides for a board of direc­
tors consisting of “any number not
nounced the opening of the bank’s representative.

Banker, September, 1984
Federal Reserve Bank of St. Louis

N orth D a k o ta N ew s

0 less than three nor more than 25,”
w rather than the set number required
previously. Banks’ bylaws would
then specify the number of direc­
tors, rather than the Articles, and
^ would be much easier to amend.
This change in policy was brought
about as a direct result of a sugges­
tion from a North Dakota banker,
who responded to a solicitation by
a the banking department for such
ideas, that had been published by
the NDBA.

NDBA Compliance Workshop
Set For October 3-4
The North Dakota Bankers Asso#ciation has announced plans for a
comprehensive NDBA Compliance
Workshop to be held October 3-4 at
the Holiday Inn, Jamestown.
Unlike the NDBA Compliance
w Update presented the last two
years, this two-day workshop will
present an extensive look at many
areas of compliance. The first day
will be devoted entirely to learning
®how to implement and manage a
comprehensive bank compliance
program. The second day will focus
on specific legal and regulatory de­
velopments, including those which
® are anticipated to be finalized within
the next two months, such as the
proposed amendments to Regula­
tion B.
m As an accompanying resource tool
^ f o r this workshop, the NDBA is
making available, at a discount,
A B A ’s Compliance Sourcebook, a
publication of the Consumer Finan^ cial Services Group of the American
Bankers Association.
Timothy D. Marrinan, associate
general counsel, First Bank System,
Inc., Minneapolis, will be the in^ structor. Mr. Marrinan’s present rew sponsibilities include the develop­
ment and coordination of the regula­
tory compliance effort at First Bank
System. He currently serves as an
a instructor for the American Bankers
Association’s National Graduate
Compliance School and is a frequent
author and guest lecturer before
numerous bankers groups and
0 schools on compliance.
The registration fee of $75 in­
cludes noon luncheons, breaks and
materials, except for the Sourcebook. For more information or to
0 register, contact the NDBA head­
quarters in Bismarck.
Federal Reserve Bank of St. Louis


ICBND Annual Convention — Sept. 19-21
HE 17TH Annual Convention of
the Independent Community
Banks of North Dakota will be held
September 19-21 at Kirkwood Mo­
tor Inn, Bismarck.
Featured speaker for the conven­
tion is Dr. Barry Asmus. A provoca­
tive and exciting spokesman for
freemarket, limited government eco­
nomics, Mr. Asmus is professor of
economics at Boise State Univer­
sity, Boise, Idaho.
A special ladies program has also
been planned featuring a seminar on
the “Language of Color.” Entertain­
ment for the convention will be pro­
vided by “The Memories,” a musical
group from Wisconsin. The program
Wednesday, September 19
10:00 Mens’ and womens’ golf
tournament, Apple Creek
Country Club.
2:00 Exhibits and registration
4:00 ICBND Business Session,
Rhinehalle-Dresden Room.
Presiding—Jam es Walth,
ICBND president, and presi­
dent, Union Bank, Halliday.
Officer and committee re­
6:00 Visit to exhibits, Courtyard.
6:30 Social break.
7:00 Buffer din n er/en tertain ment, Frankfurt Room.
8:30 Dance to the music of “The
Thursday, September 20
7:30 Prayer breakfast, Frankfurt
“Self Esteem”—Rev. Clin­
ton E. Grenz.
9:00 Call to order by ICBND
President James Walth.
9:15 Welcome to B ism arck—
Mayor Eugene “Bus” Leary.
9:20 Session I
A Message From Our Gov­
ernor—The Honorable Allen
I. Olson.
9:25 “Community Banks Surviv­
al Through Deregulation”—
Report from B.F. Backlund,
vice president, IBAA.
10:00 “The Economics of Reality,
Dr. Barry Asmus, professor
of economics Boise State
University, Idaho.

12:00 Social.
12:30 Joint Luncheon - Frankfurt
Presiding John Brown,
ICBND president-elect and
executive vice president,
Farmers & Merchants Bank
“Color Tells All - A Non-Ver­
bal Communication”—Dorothee L. Mella, Domel, Inc.,
Alburquerque, N.M.
2:00 Session II, Dresden Room.
Comments from our Com­
missioner Marilyn Foss, De­
partment of Banking and Fi­
nancial Institutions.
2:15 Speaker—Bob Tosterud, se­
nior economist, Joint Eco­
nomic Committee of Con­
gress, Washington, D.C.
Panel Discussion—Farm Fi­
nance and Policy.
3:00 Speaker—Dina Butcher, De­
puty Commissioner, Depart­
ment of Agriculture.
3:30 Session III
Panel Discussion—Asset/
Liability & Financial Man­
4:15 ICBND Business Session.
5:00 Visits to exhibits, Court­
5:30 Social hour, Courtyard.
6:30 Annual Banquet, Frankfurt
MC—Bob Caudel, senior
vice president, Bank of
North Dakota.
Invocation—John Brown,
ICBND president-elect.
7:30 Entertainment and Speaker:
“ A Multiple Honeymoon
Plan for Bankers”—James
K. Merrill, executive direc­
tor, Lutheran Social Ser­
vices of N.D., Fargo.
8:00 Presentations and installa­
tion of officers.
Friday, September 21
7:30 Joint breakfast/peer group
sessions, Frankfurt Room.
9:00 Session IV
“Update on Reg Y and
B anking L e g isla tio n ” —
James T. Deusterhoff, man­
ager, Federal Reserve Bank,
9:30 “New Tools in CEO Stress
Management”—Dr. Richard
Robl, John Allen & AssociNorthwestern Banker, September, 1984

ates, Inc., Hutchinson, Kan­
10:45 Session V
Part II of “CEO Stress
11:45 “Deregulation: A Threat to
Independent B anking” —
The Honorable Byron L.
Dorgan, House of Represen­
tatives, Washington, D.C. □

Joins Mandan Staff
Steve C. Felchle has joined the
staff of Norwest Bank Mandan,
N.A. as agri-business loan officer.
A graduate of North Dakota

State University, Mr. Felchle has
been associated with Norwest Bank
Thief River Falls, N.A., for the past
three years and the Farmers Home
Administration, McClusky, prior to

NDBA Adopts New Symbol
The North Dakota Bankers Asso­
ciation has adopted a new symbol to
represent the association.
The interconnected letters touch
both sides of the state outline to il­
lustrate that NDBA is a statewide
association of bankers who all work
together for common goals. A con-

temporary italic typeface was used
to help convey the fact that the asso-^
ciation is a viable forward looking^
organization of bankers who all
work together for common goals.
A deep rich green was chosen to
convey the vital part agriculture^
plays in the state’s economy.

Vice President Elected At
Bank of Montana System

MBA Announces Upcoming
Workshop and Seminars
The Montana Bankers Associa­
tion recently announced several up­
coming seminars and workshops.
“Career Challenge ‘84” is a skills
enhancement workshop aimed at im­
proving the expertise and effective­
ness of all personnel in the financial
industry. This workshop is being of­
fered two different days; September
22 at the Colonial Inn, Helena, and
September 29 at BPOE E lk’s
Lodge, Sidney. Each workshop will
be broken down into four one-and-aquarter hour modules, challenging
the areas of selling, extortion, bank
swindles and money facts. Registra­
tion fee is $65 before September 17
and $95 after.
Also announced, the MBA annual
IRA-Keogh Seminars will be held
September 26 at the Holiday Inn,
Billings, and September 27 at the
Village Red Lion, Missoula. These
seminars will be a comprehensive
review of the fundamental rules and
regulations covering IRA’s SEP’s
and Keogh’s. They also will provide
your personnel with the most up-todate training available. Collin W.
Fritz, banking consultant, attorney
and IRA and Keogh expert, will con­
duct the seminar. Registration fee is
$75 before September 18 and $105

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

For more information on either
workshop, contact the MBA office
in Helena; phone (406) 443-4121.

Named in Great Falls
Jerome S.C. Nelson has been
named vice president and senior
credit officer at First Bank Great
Falls, according to Robert L. Reiquam, president.
With 20 years banking experi­
ence, Mr. Nelson has spent his entire



career with affiliated banks of the
First Bank System in the retail
banking and real estate finance
areas. He currently is a member of
the senior credit committee, the
strategic planning and profit plan­
ning group and the senior business
development unit.
In addition, Tom D. Mathews has
been named commercial loan officer.
Mr. Mathews joined the bank in


Robert Paciotti has been elected
a vice president of Bank of Montana
System, Great Falls, according to
Stephen Adams, chairman and pres­
ident of the company. Mr. Paciotti,
president of Missoula Bank of Mon­
tana, will assume supervisory re­
sponsibility of eight BMS banks.
Supervising the remaining af­
filiated banks within the multi-bank*
holding company will be Joseph J.
Friend, senior vice president and se­
nior credit officer of the system.
Mr. Paciotti entered the banking,
industry as an assistant national*
bank examiner in the U.S. Treasury
Department. In 1974, he joined the
First National Bank in Marinette,
Wis., as vice president. He was pro-^
moted to executive vice president in
1975 and was elected to the board of
directors that same year. He re­
mained in that position until assum­
ing the duties as president of Mis-^
soula Bank in November, 1982.
Mr. Friend began his banking ca­
reer in 1961 with Rock County Bank
at Luverne, Minn. In 1965, he joined
International State Bank, Interna-<
tional Falls, Minn, as vice president
and served in that capacity until
1970 when be became executive vice
president and managing officer of
the United National Bank in Libby. <
In 1971 Mr. Friend was elected vice
president of Western Bank & Trust
Co. of Marshall, Minn., and moved
up to vice president and senior loan
officer in 1976. He joined M idstate 4
Bank of Montana, a Bank of Mon­
tana System affiliate at Lewistown,
as president in 1978, where he
served until his election as vice pres­
ident and senior credit officer of<
Bank of Montana System.

new duties as Rocky Mountain Dis­
trict Governor of the Kiwanis Inter­
national, a post he held at the time
of his sudden death.
Mr. Bonham is survived by his
wife, Helena, two daughters and one
son, also a career Army officer. In
addition, he is survived by his uncle,
Marion C. Bonham, chairman of the
First National Bank of Elm Creek,
Nebr. Although Marion Bonham
was Dwight’s uncle, they were the
same age, went all through school
together in Nebraska and had re­
State Examiner Dwight Bonham Dies
mained very close to each other as
WIGHT Bonham, 66, who Lieutenant-Colonel when he joined brothers throughout the years.
headed the Wyoming state the State of Wyoming banking divi­
sion in 1962. His appointment as
bank examiner
head of the division followed in
office since Jan­
uary, 1966, died
Two V.P.s Named at
suddenly of a
Mr. Bonham devoted a great deal
heart attack Ju ­
of time to the Conference of State Wyoming National, Casper
At Wyoming National Bank of
ly 22 , while walk­
Bank Supervisors in an official capa­
ing n e a r his
city for the past six years. Starting Casper, Howard L. Bauder has been
home in Chey­
in April, 1978, he served several named vice pres­
years as district chairman for states ident and depart­
Mr. Bonham
extending from Texas and New ment manager in
had served con­
Mexico north through the Dakotas business devel­
tin u o u s ly as
and Montana. At the same time, he o p m e n t, and
state examiner since his first ap­ was elected a vice president of CSBS George R. Reece
pointment to a four-year term by and a year later was named vice was appointed
then Gov. Clifford Hansen. He con­ chairman and president-elect in vice president,
tinued to head the state’s financial January, 1979. In April of that year c o rre sp o n d e n t
institutions division through four he became chairman and president services.
Mr. B auder
more appointments by succeeding for a one-year term. That was fol­
Governors. His office supervised lowed by an additional year on the has been with
state chartered banks and savings board as immediate past president. Wyoming National for over ten
and loan associations, as well as the
In January, 1981, Mr. Bonham years and most recently was vice
Collection Agency Board, Financial was appointed chairman of CSBS’ president in business development
Institutions Board and the Uniform newly-formed Performance Stan­ and marketing. He began his bank­
Consumer Credit Code.
dards Committee to accredit state ing career in Hastings, Neb., in
Mr. Bonham was a native of Ne­ banking departments. “ In that posi­ 1940, and has been with various
braska, where he was graduated tion,’’ states Dr. Lawrence Kreider, banks in Colorado, Minnesota and
from the University of Nebraska executive director of CSBS at Wash­ Iowa.
with a B.S. degree in 1939. He en­ ington, D.C., headquarters, “Dwight
Mr. Reece, who will be responsible
tered the Army at that time as a ca­ was the father of our accreditation for the sale of correspondent ser­
reer officer, retiring when he joined program, receiving excellent recog­ vices to financial in stitu tio n s
the state examiner’s staff in 1966. nition from federal regulators and throughout Wyoming, has been em­
In the intervening years, he com­ the Congress for that service, which ployed at Wyoming National as a
piled a distinguished service career. continued until May, 1983.”
commercial loan officer. He began
As an infantry company commander
Following his service as immedi­ his banking career in 1966 with
during the Normandy invasion after ate past president, Mr. Bonham was First National Bank of Missoula,
D-Day, 1944, he was wounded at St. asked by his peers to serve the orga­ Mont.
Lo. In his ensuing months of com­ nization as secretary and a director
bat, Mr. Bonham was awarded the from March, 1981, to May, 1983. At
Silver Star and Bronze star with oak that time, due to the resignation of
leaf cluster, as well as the Purple Michael Edwards from his post as Appointed to the Board
superintendent of banking in the
Rogers Rainey, Jr. has been ap­
Later, during the Korean War he State of Washington and as immedi­ pointed to the board of First Wyom­
was on the staff headquarters of the ate past president of CSBS, Mr. ing Bancorporation, headquartered
First Army Corps and later servedin Bonham was asked to take up those in Cheyenne.
headquarters of the Seventh Army latter duties again. He continued
Mr. Rainey, a CPA in Texas and a
and European Command in West that work until May, 1984, at which private investor, is chairman of
Germany. In following years he was time he asked to be relieved of any Nueces Management Services, Inc.
assigned to Cheyenne as a com­ officer or chairman duties so he and President of Pecan Energy
mander of reserve units, retiring as a could devote his outside time to his Group, Inc.

Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984


Four Advanced in Casper
First Interstate Bank of Casper
recently appointed Allan MacDonald
as vice president and head of the
mortgage loan department, and an­
nounced the promotion of Glen
Cherry to vice president and man­
ager of the deal department; Vic Kilman to vice president of the special
credits department, and Bonnie Mil­
ler to assistant operations officer.
Prior to assuming this new posi­
tion, Mr. MacDonald was employed
14 years with First Interstate. He
returned to the bank after gaining
several years experience in private
business. He also spent one year as
head of the mortgage loan depart­
ment for First Wyoming Bank of
Formerly an assistant vice presi­
dent, Mr. Cherry has been with First
Interstate the past one and one-half
With First Interstate five years,
Mr. Kilman had been serving as as­
sistant vice president.
Ms. Miller has been with the bank

seven years, most recently as book­ president and CEO. He succeeds ^
Jack Jackson, who resigned.
keeping supervisor.
Mr. Sancher most recently served
as vice president of commercial
loans at First Wyoming Bank, N.A.
Manager Named at First
-Lusk. He started with the bank in ^
Wyoming Bancorporation
1981 as a compliance officer, moved
Marvin A. Schutte has been named into instalment loans, then real es­
manager of First Wyoming Bancor­ tate, and finally commercial loans.
poration’s data processing center.
Mr. Schutte most recently was
general manager at Val Con Compu­
ters, Scottsbluff, Neb., and prior to
that was second vice president at Big Piney V.P. Named
Dale Smith has been named vice
Omaha National Bank.
president and senior loan officer of
First Wyoming Bank, N.A. - Big
Named in Green River
Sue Cole has been named presi­
Mr. Smith started with First
dent and chief executive officer of Wyoming Bancorporation in 1981
First Wyoming, N.A. - Green River. as a management trainee and in
Ms. Cole, who has been serving as 1982 was promoted to assistant vice
executive vice president and chief president in commercial loans for
executive officer, previously was a the Kemmerer affiliate. He received
branch administrator with Citi Corp. his BS degee in agriculture business
from the University of Wyoming in
Gillette President Named
1980 and his masters of business ad­
First Wyoming Bank - Gillette re­ ministration in 1981 also from the
cently named Amir C. Sancher as University of Wyoming.
National Bank, South Denver Na- •
tional Bank and the Bank of West­
Mr. Murray formerly was with
the First City National Bank in
Tyler, Texas where he was resident ®

Promoted in Denver
Thirteen Promoted At
United Bank of Denver
United Bank of Denver has an­
nounced that Mary C. Dumas and
Claudia M. King were promoted to
vice president, and Lynn E. Allen,
Michael S. Miller, Kenton L. Ownbey and Sarah W. Woods were
named trust officers. Named assis­
tant vice presidents were Thomas A.
Gordon, Margaret A. McKechnie
and Gene J. Sullivan. Gary L. Rosentrater was named associate coun­
sel and Michael Fronczak, Carol A.
Gilbronson and Paul F. Lohuis were
named officers.
Ms. Dumas, a commercial banker
in energy and mineral’s regional
market, joined United Bank of Den­
ver in 1978.
A commercial banker in regional
banking’s correspondent banking
group, Ms. King joined the bank in

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

The board of First Interstate
Bank of Denver has promoted Mary
Ms. Allen, a corporate trust ad­ K. Anstine to ex­
ministrator, came to the Bank in e c u tiv e
p resid en t, ac­
A manager in tru st’s employee cording to Rob­
benefit administration area, Mr. ert J. Malone,
Miller joined United Bank of Denver p re sid en t and
in 1980.
Mr. Ownbey, manager of tru st’s
Ms. Anstine,
real estate activities, came to the who joined the
Bank in 1981.
bank in 1961, is
The manager of tru st’s bond and manager of the
„ „
, .
escrow area, Ms. Woods joined in tru
s t ,banking
services division. Most recently she
elected senior vice president
Auditor Named
and trust officer in 1979.
C.E. Snow, president and chief ex­
ecutive officer of Cherry Creek
Bankshares, Ltd., South Denver Yuma Vice President Named ^
Bankshares, Ltd. and Westminster
Steve Engleman has been named
Bankshares, Ltd., has named Gregg vice president of First National
C. Murray auditor of three single Bank, Yuma.
bank holding companies. Murray’s
Mr. Engleman formerly was assis­
responsibilities include the complete tant vice president of Gering Na- #
financial reporting for Cherry Creek tional Bank, Gering, Nebraska.

tella Scanniello was elected assis­
tant vice president.
Mr. Malone joined the bank in
1968 and has held various manageri­
al positions. He currently holds the
title of loan administration portfolio
division manager.
Ms. Scanniello formerly was
employed at Chase Manhattan Bank
in the credit department. She joined
Colorado National in 1979.
C olorad o N ew s

Keystone Resort Hosts IBC Convention
7:30 Annual banquet. Drawing
HE 11TH ANNUAL Convention
for COINPAC prizes, danc­
of the Independent Bankers of
ing, sports awards, gifts and
Colorado will be held September
other drawings.
22-25 at Keystone Resort. This
year’s convention will focus on real
Tuesday, September 25
issues, such as: What is the real situ­ A.M.
ation in American agriculture?
8:00 Buffet breakfast for all reg­
What is the latest information re­
garding problem loan workouts? 10:00 Annual meeting.
What are the best marketing techni­
“Banking, What Is It?
ques for banks in today’s mixed eco­
Diane Kilgore, president,
nomy? Are you up-to-date on the
Green Mountain Bank.
new IBC MedPlan? These areas will P.M.
be dealt with in special breakout ses­ 12:45 Lunch
sions, Monday, September 24.
Installation of officers and
In addition, a special Tuesday
directors, special prize draw­
morning program on “Banking,
ing for spouses.
What Is It? ” has been scheduled in
2:30 Adjourn the convention.
response to requests by IBC spouses
for a concise information session on
banking. The program schedule fol­ Three Promoted in Denver
Denver National Bank has an­
nounced the recent promotion of
Nicky G. Kenney to vice president,
Saturday, September 22
2:00 IBC board meeting.
the bank in 1983
Sunday, September 23
in m u n ic ip a l
bond sales and
10:00 Golf tee off time with groups previously was
starting on both nines.
with Newman &
10:00 Tennis tournament.
Associates as a
municipal bond
4:00 Registration in hotel mezza­ underwriter.
A lso
6:00 Shuttle buses to Mountain nounced were
the promotions of Deborah W.
6:30 German Party with polka Carter to real estate lending officer
contests, costume contests, and Tamela Lee-Burks to retail lend­
bierstube, live German mus­ ing officer. Both joined the bank in
ic, gifts, prize drawings.
10:30 Shuttles return to hotel.
Two Promotions Announced
Monday, September 24
At Colorado Springs Bank
8:30 Registration in hotel mezza­
The board of directors of Colorado
National Bank - Exchange, Colorado
9:15 Four breakout sessions:
Springs, recently promoted Ter­
• “The New IBC MedPlan” rence J. Zebarth to vice president
• “Marketing for Indepen­ and Algonda Ryden to operations
dent Banks”
• “Problem Loan Workout,
Mr. Zebarth joined the bank in
1972 and has held positions in in­
• “The Real Situation in stalment and commercial loans.
Ms. Ryden joined the bank in
1973 as proof float clerk and subse­
12:15 Lunch
quently served in several bookkeep­
“MegaTrends in Banking”— ing positions.
Jo h n E lk in s, N a isb e tt
2:30 Repeat of morning breakout Two Advanced in Denver
Colorado National Bank of Den­
6:00 Exhibitors’ cocktail party ver recently promoted Thomas R.
with prize drawings.
Malone to vice president and Dona
Federal Reserve Bank of St. Louis

Two Named to BMA Staff
Raymond M. Cheseldine, execu­
tive vice president of Bank Market­
ing Association, an affiliate of the
American Bankers Association, has
announced the appointment of two
senior staff members. Robert K. Mil­
ler has been named vice president
and director of marketing and mem­
bership. He was formerly vice presi­
dent of trust corporate services at
Continental Bank, Chicago.
Henry S. Poison was appointed
director of BMA’s trust and corpo­
rate marketing departments. He
was with the U.S. League of Savings
In stitu tio n s, Chicago, as vice
president-marketing, and prior to
that was with Continental Bank,
Chicago, as senior m arketing
manager in charge of development
and implementation of marketing
plans for consumer financial ser­

Comptroller Issues
Indemnification Rule
The Office of the Comptroller of
the Currency on July 27 sent to the
Federal Register a final rule on in­
demnification of national bank direc­
tors, officers and employees. The
rule permits national banks to pro­
vide protection against claims to
directors, officers and employees ex­
cept when a final order assessing
civil money penalties has been is­
sued against a bank director, officer
or employee.
The final rule differs from the pre­
vious regulation on indemnification
by permitting national banks to fol­
low general corporate law principles
on indemnification. Specifically, na­
tional banks may adopt the indemni­
fication standards of state law
where the bank is located, or where
the bank holding company is incor­
porated. A national bank may also
follow indemnification standards set
forth in the Model Business Cor­
poration Act.
Northwestern Banker, September, 1984


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D ifferen t p rod u cts for d if­

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

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Legislation Highlights Group Meetings
e g is l a t io n

occupied the

Lminds of all bankers attending
the series of four group meetings
^ conducted around the state in midAugust by the Nebraska Bankers
Association. The meetings were held
in Scottsbluff (Group 6), Kearney
(Groups 4 and 5), Lincoln (Groups 1,
0 7 and 8) and Norfolk (Groups 2 and
Ju st before the meetings were
scheduled to start, Nebraska Gov.
Robert Kerrey called a special ses0 sion of the state legislature to com­
mence Thursday, August 16, the
last day of the group meetings. It
was called for legislators to discuss
two key issues—reevaluating farm
0 values in light of the disastrous ag
economy in the state, and legislation
that would determine whether outof-state financial institutions will be
allowed to come into the State of Ne^ t)l*£iskd.
NBA President A.C. “ Skip”
Hove, Jr., chairman of Minden Ex­
change Bank & Trust Co., Minden,
presided at each of the meetings,
• giving a review of NBA activities

for the year to date. He talked about
the continuing battle for bankers to
retain their priority liens on ag loan
security filings, as opposed to the
legislative program being pushed by
other ag businesses who want to set
aside the bank’s right to a preferred
position with its secured lien. Mr.
Hove said the state’s new central fil­
ing system, which can be accessed
through AgNet with a microcom­
puter, should help resolve a great
share of this problem for other ag
businesses, who will be able to deter­
mine instantly whether a lien has
been filed against ag products they
intend to buy.
Mr. Hove also said the NBA exec­
utive council approved a recommen­
dation from the association’s gov­
ernment relations committee that
calls for NBA to oppose any inter­
state banking legislation.
The most current issue before
Nebraska state-chartered banks at
the time of the group meetings was
the recently announced new assess­
ment and fee schedule from Director
of Banking Roger Beverage. That
new schedule increases fees from 5<t
per $ 1,000 of assets to 15<t per
$ 1 ,000, and ups the examination fee

PARTICIPANTS in the Nebraska Bankers Association group meetings held last month
(fcwere (from left): William Brandt, NBA general counsel; A.C. “Skip” Hove, Jr., NBA pres.,
and Stan Matzke, Jr., NBA exec. v.p.
Federal Reserve Bank of St. Louis

from $24 per hour to $30 per hour.
The NBA had several meetings with
Mr. Beverage, who was formerly ex­
ecutive vice president of the NBA,
and Mr. Beverage told Mr. Hove he
was making arrangements to give
the NBA a copy of the department
budget, which outlines the increased
cost factors.
Mr. Hove said that the 300% in­
crease in asset-based fees meant the
department would collect $1,050,000
this year, compared to collecting
$350,000 from the state banks a
year ago. The new hourly charge for
exams would bring in another
$900,000 for a total payment by
state chartered banks of just under
$200 million. Mr. Hove said that be­
cause the Nebraska banking depart­
ment has responsibility for examin­
ing industrial banks, that some of
the increase is going from banks to
pay for costs associated with the
failure of Commonwealth Savings
Co. in Lincoln late last year.
Mr. Hove said the association has
talked to the FDIC about allowing
banks to work out a plan with farm
borrowers without having those
loans chased out of the bank, but in­
dicated the Comptroller was not
that understanding.
NBA General Counsel Bill Brandt
reported in Lincoln that he had met
earlier in the day in Grand Island
with the leaders of the Feed and
Grain Dealers Association and
found excellent response to his
presentation on behalf of NBA for
the association’s head-on approach
to resolving the double jeopardy
problem on liens. Mr. Brandt spent
most of his allotted time in re­
sponding to questions from the floor
regarding possible directions that
might be taken in the special ses­
sion. He expressed optimism that
the end product of the session, if any
legislation is adopted, would be
something the NBA could live with.
It was also noted that if the Direc­
tor of Banking decides nothing can
be done about the Citicorp branch
offices that were opened in Omaha
recently, the NBA’s only recourse is
in the courts.
The dinner speaker was Keith
Barrett, a well-known humorist
from Lincoln who has addressed au­
diences nationwide with his talk
aimed at bringing people together
through laughter. He is director of
public relations for the Nebraska
Motor Carriers Association.
Northwestern Banker, September, 1984


John M. Shonsey, chairman of
American National Bank, Omaha,
has announced
the appointment
of John F. Kotouc as the presi­
dent and chief
executive officer
of the bank. Prior
to his appoint­
ment, Mr. Kotouc was a mem­
ber of the bank’s
board of direc­
tors. He succeeds Harold G Haver,
who resigned.
Mr. Kotouc will continue his du­
ties as president of The Home State
Bank and Trust Co., Humboldt; The
State Bank of Elk Creek; The Daw­
son Bank, and The Louisville State
Savings Co. He also is of counsel to
the law firm of Kotouc, Kotouc,
Fankhauser and Machsman in Hum­
Mr. Kotouc serves on the boards
of Bellevue College, the Pacesetter
Corporation and Nebraskans for
Public Television.
A cum laude graduate of Harvard
College, he earned his J.D. degree
from the University of Nebraska in
* * *
The following promotions and
new officers were recently an­
nounced at Norwest Bank Omaha,
N.A.: Edward A. Kohout, Jack L.
Shafer and Timothy J. Coughlon to
senior vice president; Thomas Petti­
grew to vice president; Leola M.
Kahl to cash management officer;
Scott A. Schmidt to business bank­

Banker, September, 1984
Federal Reserve Bank of St. Louis

ing officer; Rachel G. Shropshire to
personal banking officer, and Brad
Stockwell to investment officer.
Mr. Kohout was named senior
vice president in charge of the agri­
cultural banking group and financial
institutions group in addition to
being president and chairman of
Norwest Bank Omaha South. He
started with Norwest Bank Omaha
South as senior vice president/credit
administration after 19 years with
another Omaha bank. He was named
president and chairman in 1975.
Mr. Shafer is regional vice presi­
dent of human resources and will
also serve as senior vice president of
human resources. He received his
BS degree in business administra­
tion from Tri-State University,
Angola, Ind., in 1968.
Mr. Coughlon transferred from
Norwest Bank Sioux City in Aug­



ust, where he had been executive
vice president in charge of the loan
functions. Prior to that he worked at®
Norwest Banks in Billings, Mont.,
and Mason City, Iowa.
Mr. Pettigrew started with Nor­
west Corporation in 1982 and will
become manager of the retail pro-0
duct services and promotions de­
partment. He previously worked for
a California bank at San Francisco
for ten years.
Ms. Kahl started at Norwest®
Bank Omaha in 1968 and has
worked in bookkeeping, savings and
real estate loans. In 1981 she was
named cash management analyst.
Mr. Schmidt joined the bank in®
1983 as regional credit trainee. He
obtained his BS in business adminis­
tration from the University of Ne­
braska at Lincoln in 1982.
Ms. Shropshire began working at®
the bank in 1975 while attending col­
lege. In 1981 she was named a per­
sonal banker.
Mr. Stockwell joined Norwest
Bank in 1983 and previously w a s^
with a stock firm as a registered rep­
resentative. He also has had experi­
ence as a bank loan officer.
* * *




FirsTier Mortgage Co. has re­
ceived an allotment of $32 million
from the Nebraska Investment Fi­
nance Authority to provide home®
mortgages at an interest rate of
11.15% to first-time homebuyers,
according to Delwyn K. Bowden,
FirsTier Mortgage president.
The company will use the funds to ®
finance home mortgages originated




CORRESPONDENT banking can be confusing, frustrating,
time-consuming. Not so at First National Bank of Omaha.
Just call to get the answers from one of our six experienced
correspondent bankers. Six men with the very latest
financial technology at their fingertips dispensing profession­
al, dependable, confidential service.
So call us for the answers to your correspondent
banking questions — on electronic data
processing, cash letter processing, overlines,
fed fund transactions and more
IIfSl 1101101101
In Nebraska, call 1-800-642-9907. Outside
Nebraska, call 1-800-228-9533. You'll get the
Member FDIC
answers from us, the answer men.
Federal Reserve Bank of St. Louis


^ .^ 1 _


of omaha
Northwestern Banker, September, 1984


N eb raska N ew s

at both its Omaha and Lincoln of­
fices. The 11.15% rate compares to a
current market rate of 14.75% for
fixed-rate conventional loans.
* * *

The operations of Commercial Na­
tional and Commercial Savings have
been consolidated and reopened as
full-service branch offices of Omaha
Omaha National also recently an­
Harold Walton, president of Nor- nounced the acquisition of First In­
west Bank Omaha West, has an­ vestment Co., Kearney, which now
is being operated as Omaha Na­
nounced the pro­
tional Bank Kearney.
motion of Andy
Lawrence Comine, Jr., will serve
Pearson to assis­
senior officer in charge of Omaha
tant vice presi­
Grand Island and Kear­
dent in the retail
ney operations and has recently
banking group.
moved to Grand Island. Formerly
Mr. Pearson
vice president in charge of the combegan working
at Norwest Bank
Omaha West in
The Company Name
1975 and was
, j .
Has Changed. . .
promoted to in­
stallment loan officer in 1977. Prior
to that he worked at a bank for a
year and a finance company for
three years.

Appointed in Grand Island
Overland National Bank, Grand
Island, recently announced two ap­
Mary Kay Tuma has been elected
as trust officer and Kevin L. Kreifels
as marketing and business develop­
ment officer.
Ms. Tuma previously had been as­
sociated with Overland as consumer
services officer and head of custo­
mer relations. In her new position
she will be in charge of all trust ser­
Mr. Kreifels is a 1978 graduate of
the University of Nebraska-Lincoln.

Omaha National Completes
Grand Island Acquisition
Omaha National Bank completed
the acquisition of Commercial Na­
tional Bank &
T ru st Co. of
G rand Isla n d
last month, ac­
cording to John
D. Woods, Oma­
N a tio n a l
chairm an and
CEO. This fol­
lows Omaha Na­
tio n al’s recent
acquisition of
Commercial Savings Co., a Grand
Island loan and investment com­
pany. Both Commercial National
and Commercial Savings had been
owned by Commercial Bankshares
of Nebraska.

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

William March

Robert E. Roh
Executive Vice President

Patrick H. Rensch
Senior Vice President

C. W. (Chuck) Poore, Jr.
Senior Vice President

A. William (Bill) Abts, Jr.
Vice President

Wayne A. Rasmuss

mercial lending department at Oma- ^
ha National, Mr. Comine joined
Omaha National in 1958. He served
as manager of one of its suburban of­
fices and as a team leader in corre­
spondent banking and commercial^
lending before being named depart­
ment head of commercial lending in

Joins Farmers Natl., Grant


Don Softley has joined Farmers
National Bank in Grant as loan offi­
cer, announced Phil Jossi, president.
Following graduation from U ni-^
versity of Nebraska, Lincoln, in
1976, he worked as an independent
agronomic consultant until taking a
position as insurance manager for
Farm Bureau Insurance in Grant. ^

Three Promoted in Bellevue
Jon D. Hoffmaster, president of
First National Bank of Bellevue, re-®
cently announced the following pro­
Keith I. Frederick II to cashier;
Billy P. Grant to assistant vice pres­
ident, consumer loans, and Bernard®
Pilachowski to loan officer.

Greeley Employee Honored
M argaret Johnson, assistan t®
cashier at The City National Bank in
Greeley, was honored last month for
25 years of service to the bank. She
was presented with a gift for her sil­
ver anniversary with the bank.

Kearney State Names Two
Carolyn Menke has been named
assistant vice president and Cynthia {
Rafferty has been named assistant
cashier at Kearney State Bank.

Micky Krupinsky

John Fleming

Now we’re the MBU Professionals.
We’re the same people you worked
with in the past. And we still spec­
ialize in tax-exempt investments.


Municipal Bond
Underwriters, Inc.
Investment Bankers • Underwriters
208 South 19th Street, Omaha, Nebraska 68102
(402) 341-1144

In Nebraska Call Toll Free (800) 642-4413
Member of the Securities Investor Protection Corporation



Ms. Menke joined the bank inQ
1977 and is in charge of customer
relations and marketing.
Ms. Rafferty joined in 1980 as a
teller and has served as bookkeeper,
proof operator and most recently as ®
teller supervisor.


The Experienced Professionals
of First National Lincoln.

Ready to meet your investment needs.


Put your trust in the Municipal and Government Bond specialists
of The First Team. Fast. Knowledgeable. Experienced. First
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The F irs t Team.
13th & M Streets • P.O. Box 81008
Lincoln, NE 68501 • Phone (800) 742-7376
Member, F.D.I.C.
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984


Welcome fromthe
Bankers bankers
Whether you come to talk busi­
ness, to renew long-term friendships,
or to make new ones, the Iowa
Bankers Association convention is
a valuable get-together.
While you’re here, we hope
you’ll take time to come in and
visit with our Bankers’ bankers
— Larry Frowick, Joe Bognanno,
Ben Eilders, Arnie Ripperger,
Don Jordahl, Kay Backman
and Mike Feeney.


Come Grow \ f l I C t
With U s i 1 U O l
Des Moines, Iowa 50304
Member FDIC,
Federal Reserve System

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis









Exec. Vice President

Iowa Bankers Association 98th Annual Convention
D e s M o in e s M arriott H o te l
S e p te m b e r 1 6 - 1 8

EFLECTING the rapidly changing banking indus­
try and the people who serve in it, the Iowa Bank­
ers Association has chosen an appropriate theme,
“New Banks— New Bankers,” for its 98th annual con­
t e n t i o n September 16-18 in Des Moines. Headquarters
and general sessions will be in the Marriott Hotel in
downtown Des Moines.
In announcing the program for the convention, IBA
President A1 Maser noted the diverse factors that chief
^executive officers of banks must address continuously.
He said the convention program, in turn, addresses
those CEO interests with a diverse array of speakers
who deal with the economy and investments, social
and demographic trends, community bank needs, ag
pending, progress of women in banking, and the com­
mercial business climate. All of these will be brought
together in fast-paced general sessions that will be in­
terspersed with IBA business sessions and entertain­
0 Mr. Maser has served as IBA president during the
past year when a fellow Iowa banker, C. Robert Brenton, has served the American Bankers Association as
president. Mr. Brenton, who will also address the Iowa
convention, is president of Brenton Banks, Inc., Des
#Moines, and will preside at the ABA convention next
month in New York City.
Working with Mr. Maser this past year as IBA pres­

Federal Reserve Bank of St. Louis


ident-elect has been William Logan, president of The
State Central Bank in Keokuk. He is scheduled to as­
sume the presidency during the annual business ses­
sion. Treasurer the past year has been Richard Ran­
dall, president of Dunlap Savings Bank, who will con­
tinue in that office for another year. The IBA full-time
staff is headed by Neil Milner, executive vice presi­
dent, assisted by Randy Steig, executive director, in
Des Moines headquarters.
Getting the convention “up and running” at 7:30
a.m. on Sunday, September 16, will be the second an­
nual “Capital Pursuit,” sponsored by the IBA and the
Des Moines Register. The three-mile and 10-mile runs
both start at the Register building at 8th and Locust
and will finish at Nollen Plaza at 4th and Locust in
downtown Des Moines. In between that four-block
stretch for the 10 -mile run will be a course laid out by
an “evil-mind” that will take runners uphill in a
113-foot gradual climb before peaking at the half-way
mark for a downhill jog to the finish line. The threemile run will be on flat terrain around the downtown
loop area.
Highlighting the entertainment will be country mus­
ic star Roy Clark. He will offer two performances at
the Civic Center Sunday at 5:30 p.m. and 8:00 p.m. The
President’s Reception Monday evening, September 17,
from 8:00 p.m. to 9:00 p.m. at Capital Square, 4th and


Northwestern Banker, September, 1984


Io w a N ew s

Locust, will honor ABA President Bob Brenton and
his wife, Babette Brenton. Guests will be greeted by
Mr. and Mrs. Brenton, A1 and Dolores Maser, Bill and
Joan Logan and Neil and J.C. Milner. Champagne and
hors d ’oeuvres will be served. After special recognition
ceremonies for Mr. Brenton, guests are invited to stay
for the President’s Ball and the music of the C. Tom
Lane Jazz Sextet until 11:30 p.m.
An outstanding spouse program with its theme,
“Harvesting Iowa’s Heritage,’’ will be offered at dif­
ferent times on Monday and Tuesday. In addition to
many other features, there will be tours of Terrace Hill
Governor’s Mansion and Living History Farms, shop­
ping at Valley Junction (West Des Moines) antique
and gift shops, and exercise sessions for the physical
fitness devotees.

Sunday, September 16
7:30 “Capital Pursuit’’ three-mile fun run, 10-mile
advanced run.
12:00 Registration opens at the Marriott Hotel.
1:30 Annual Meetings, IBA, IBMC, IBIS, and ITS.
4:00 Exhibit area open, Marriott third floor.
5:00 Reception at Marriott, exhibit area, cash bar
and hors d’oeuvres.
5:30 Roy Clark Concert, Civic Center.
8:00 Roy Clark Concert, Civic Center.
Monday, September 17
8:00 Registration desk opens, Marriott third floor.
8:00 Exhibits open, Marriott third floor.
8:30 General Session.
• “The Debt Problem in Agriculture’’—Neil
Harl, Charles F. Curtiss Distinguished Profes­
sor, and professor of agriculture and econom­
ics, Iowa State University, Ames.
• “Changing Climate and Its Affect on Agri­
culture and Business’’—Iben Browning, con­
sultant and author, “Climate and the Affairs of
12:00 Lunch.
2:00 General Session.
• “The Future of the Corporation”—John
Naisbitt, author, Megatrends, and publisher of
The Trend Report.
• “Deregulation”—Jack MacAllister, presi­
dent and CEO, US West.
ABA President’s Report—C. Robert Brenton,
president, Brenton Banks, Inc.
IBA President’s Report—A1 Maser, president,
First National Bank in Le Mars.
5:00 Approximate adjournment.
8:00 President’s Reception, Capital Square.
Dancing to the C. Tom Lane Jazz Sextet.
Tuesday, September 18
8:00 Registration desk open.
8:00 Exhibit area open.
9:00 • “Thinking About Leadership”—Anne Bry­
ant, director, National Association of Bank
Women’s Educational Foundation.
for FRASERBanker, September, 1984
Federal Reserve Bank of St. Louis


• Community Banking Panel—“Challenge?
Facing the Community Bankers.”
Panel moderator, Neil Milner, IBA execu­
tive vice president.
Rowland McClellan, president, The Bank o ^
Wisconsin, Janesville, Wis.
Larry Johns, president, Isabella Bank &
Trust, Mt. Pleasant, Mich.
John C. Schmidt, executive vice president,
Exchange Bank of Schmidt and Koester^
Maryville, Kan.
12:00 Lunch.
50-Year Banker & Past Officer Luncheon.
1:45 General Session.
Welcome from Governor Terry Branstad.
2:00 • “W hat’s Ahead for the Economy”—Louis
Rukeyser, author and host of “Wall Street
Report from Neil Milner, IBA executive vic0
4:00 Approximate adjournment.
5:00 Exhibit area reception.
6:30 Inaugural Dinner.
Featured Entertainment - University of low,#
Jazz Band.


Abu can count on us
for quick response to
your investment needs.

O ur team of specialists, Roma Kroll, Patty Stansbury and Phyllis Foster, is ready
to help with your specific investment needs. You can rely on them for fast action in handling Fed
Funds transactions, m oney transfers, security purchases and sales.
W e would also be happy to provide a review and analysis of your current
portfolio, to help you take advantage of changing economic trends. Give us a call — you can
count on us!
Gary Stevenson



Vice President
Correspondent Banking

Our agricultural specialists can assist you
with cash flow planning and analysis, com­
modity price trends, overline assistance and
much more.

We can put you on-line to the Banks of Iowa
computers, the area’s most successful EFT/
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First National Bank
stands ready to place
its total resources al
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for assistance with any of the following:

A fast, accurate, efficient system
maximum funds availability.


Overline, liquidity and bank stock loans,
commercial loans and more.

Merchant and consumer services for both
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We can provide guidance on equipment needs,
technology and programming.
Remember, when you need help with any of
these services and more, First National Bank
is only a phone call away.


Our Trust department is ready to help you with
any and all client needs.

See you at the Iowa Bankers Association Convention!

F ir s t N a tio n a l B a n k in

MEMBER FDIC * 712-277-1500 • Sioux City, Iowa 51101 • A 'BANKS OF IOWA' BANK
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984


Io w a N ew s

Spouse Program — Harvesting Iowa’s Heritage
Monday September 17




Younkers Luncheon/Fashion Show — $15
Feathered Heart Quilting Design Workshop — $10
Living History Farms Tour — $7
Painted Country Goose Workshop — $10
Quilting Seminar





Crafters Gallery
Hoyt Sherman Place/Breakfast, Terrace Hill Tour — $8
Party Invitations Workshop — $10
Stenciling/Geese Tote Bag Workshop — $12
Charlie’s Showplace — $15

Tuesday, September 18
Jane Fonda Workout
Crafters Gallery
Appalachian Mountain Egg Baskets — $15
Antiques, Gwen Znerold — $5
Table Toppings/Demonstrations



I BA Officers Are Elected
William Logan, president of The
State Central Savings Bank in Keo­
kuk, will be advanced to the presi­
dency of the Iowa Bankers Associa­
tion during the 98th annual conven­
tion in Des Moines on September 18.
Mr. Logan, who has served as IBA
president-elect the past year, will
succeed A1 Maser, president of the
First National Bank in Le Mars.



In the mail ballot submitted to
members last month according to
IBA by-laws, the only candidate for
president-elect for 1984-85 was J.
Bruce Meriwether, president of the
First National Bank of Dubuque.
Under the present procedure of offi­
cer succession, Mr. Meriwether
would assume the IBA presidency in
September, 1985, and would be the
presiding officer at the Iowa Bank­
ers Association’s 100th Anniversary
Convention in September, 1986.
Richard Randall, president of
Dunlap Savings Bank in Dunlap,
was named treasurer in the 1984
election for a two-year term, so will
continue in that office until the 1985
Mr. Logan was chairman of
Group 11 of the IBA and completes
his two-year term on the IBA board
next month.
Mr. Logan was graduated from
the University of Iowa where he

Banker, September, 1984
Federal Reserve Bank of St. Louis

Savery Luncheon/Mary McBride, Speaker — $15
Valley Junction Shopping Spree
Paper Piercing Workshop — $12
Shadow Heart Applique Workshop — $10
Homemade Chocolate Candies Demonstration

played varsity basketball for three
years and was a member of the Fab­
ulous Five team under coach Bucky
O’Connor in 1955- 56. He received
his degree from the School of Busi­
ness Administration. He also com­
pleted studies at the Graduate
School of Banking at Madison in
1962. Mr. Logan is a member of the
board of directors of the University
of Iowa Foundation.
Bill Logan and his wife, Joan,
have three sons and two married
daughters. Their son, W. Tyler Lo­
gan is vice president and counsel for
State Central Bank, the fifth genera­
tion of his family to be associated
with the bank. Their son, W. Archie
Logan II, named after his grand­
father, W.A. Logan, who is chair­
man of the bank, is teaching high
school in Hermitage, Mo., and the
other son, Daniel Logan, is attend­
ing the University of Iowa. Also at­
tending the University of Iowa as a
student in the Law School is a
daughter, Mrs. Katherine Piper. The
other daughter, Mrs. Laura Burnett,
lives in Ontario, Calif.
Mr. Meriwether joined First Na­
tional of Dubuque immediately fol­
lowing his graduation with a B.S. in
Economics degree from the Univer­
sity of Dubuque in 1960. He held
various positions of responsibility in
the bank leading up to his election
as president on January 28, 1981,
just three days after his 43rd birth­
day. He also completed studies at
the Graduate School of Banking at
the University of Wisconsin, Madi­
son; the BMA School of Marketing
at Northwestern University, Evans­
ton, and the ABA Commercial Lend­
ing School at the University of Okla­
homa, Norman.
Mr. Meriwether has had extensive
experience in activities of the Iowa


and American Bankers Associa­
tions. From 1978-1981 he was chair­
man of the IBA legislative commit-#
tee, one of the most critical and de­
manding jobs in the association. He
was a member of the Iowa Bankers
Mortgage Corporation in 1982-83.
Currently, he will complete his two-#
year term as chairman of IBA
Group IV at the Iowa convention
this month and, in that capacity, his
two year term on the IBA board of
directors will expire. He is also a ^
member of the Bankers’ Advisory
Committee of the Iowa College
In 1981-82, Mr. Meriwether was a
member of the executive committee^
of ABA’s Commercial Lending Divi­
sion. In 1982-83, he was a member of
the ABA Community Bank Division
advisory committee.
In addition to his management re-^
sponsibilities at the bank and his ex­
tensive association activities, Mr.
Meriwether also has devoted consid­
erable time to civic activities. He
was president of the Dubuque Area*
Chamber of Commerce in 1975-76;
received the Chamber’s Civic Ser­
vice Award in 1980 and the Jaycees’
“Gilbert D. Chavenelle” Civic Ser-.
vice Award in 1982, and in the cur­
rent year is chairman of the Cham­
ber’s Economic Development steer­
ing committee.

IBIS Completes Move

Iowa Bankers Insurance and Ser­
vices, Inc., Des Moines, moved to a
new location September 1 , where
they will share offices with In ter-#
state Banking Insurance Services,
Inc. and Iowa-Midwest Insurance
The new location is 104 East Lo­
cust, Des Moines, 50308. All tele-#
phone numbers will remain the same.

We were bankers
before we becam e
and that gives you the
investm ent advantage.

James I. Mackay, President (left)
James E. Weiser, Director of Municipal
and Public Finance (right)

Member SIPC

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Jim Mackay and Jim Weiser have more than 45
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Weiser spent over thirty years with a Des Moines
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■ Complete brokerage activities
Honesty, stability, dependability
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Inside Iowa WATS



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Suite 380, Capital Square
400 Locust Street
Des Moines, Iowa 50309
Contiguous States WATS


Io w a N ew s

LEADING the Iowa Bankers Association this past year has been AI Maser (left), pres., First
National Bank in Le Mars, ably assisted by Neil Milner(right), IBA exec. v.p. in charge of the
headquarters staff in Des Moines.

“We must work together in seeking a
solution to our critical ag problem”
A N o r t h w e s t e r n B a n k e r interview with
Executive Vice President
Iowa Bankers Association
i 6 I OWA banking is synonymous
I with all of rural America and
we bankers who are dealing directly
with ag customers realize their prob­
lem lies in our economy. Because
agriculture is our basic industry in
Iowa, there is nothing more impor­
tant for all of us to do than work
together in seeking a solution to this
critical ag problem, then work to­
gether in implementing that solu­
When A1 Maser voiced that strong,
urgent opinion for this interview
last month, he spoke with the con­
viction of an experienced banker
with 31 years of banking service. He
spoke also with the benefit of the
thinking of hundreds of bankers he
has visited with in Iowa and across
the nation in his position this past
year as president of the Iowa Bank­
ers Association.
Ag Problem Critical
As president and chairman of the
First National Bank in Le Mars ($36
million in deposits) and president of
The Lakes National Bank in Ar­
nolds Park ($14 million deposits),
Mr. Maser knows how dependent
Iowa communities are on a healthy

Banker, September, 1984
Federal Reserve Bank of St. Louis

ag industry. Through his position as
IBA president, he is pursuing every
avenue available to the association
to help member banks and their
rural customers.
“Our midwest ag problems have
come at the same time that other
basic changes in the financial
business are impacting banks both
large and small,” Mr. Maser points
out. He has stressed that change
constantly in his talks the past year.
When asked how he perceives his
tenure as IBA president in com­
parison to his expectations when he
assumed the post at the 1983 con­
vention last September, Mr. Maser
commented, “I hope we have created
an awareness that we’re not just in
banking any more, but in the finan­
cial services business.”
In keeping with his perseverance
in pointing out that change, and the
need for community bankers to meet
the new competition head-on, Mr.
Maser set his theme for this year as
“New Banks—New Bankers.”
Why Seek the Job?
In view of the need as president to
be involved in both federal and state
legislation, seeking answers to ag

problems, presiding at monthly IBA_
board of directors meetings, attend-^
ing dozens of IBA, ABA and other
state meetings, while keeping on top
of activities in his own banks, Mr.
Maser was asked, “Why would you^
seek a demanding job, and at a tim e^
of such diverse pressures on the
banking industry?” That’s not a
question A1 Maser answers lightly,
but one he has thought about seri-^
ously and responds to with simple,
straightforward feelings:
“Banking has been good to me
and when something good has hap­
pened to you, it’s nice to put some-^
thing back. I t ’s easy to say ‘nothing
m atters,’ and if you do nothing,
th a t’s what you get—nothing.”
Reflecting further on the past
year, Mr. Maser recalled, “W hat’^
been brought home to me is the tre­
mendous job done by all our mem­
bers as volunteers working with our
professional staff, such as the work
done by our legislative committee#
Task Force, education, ag market­
ing, management and so many other
committees—all those who have
worked with our subsidiary IBA
From another viewpoint of Mr.
Maser’s year as president, IBA Ex­
ecutive Vice President Neil Milner
states, “ I think Al’s banking career,
working his way from the bottom#
up, has really helped our associa­
30-Year Banking Career
That career began for A1 Maser
when he was about to graduate from^
the University of Iowa in 1953. He
had completed his military service
earlier and was ready to receive his
Bachelor of Administration degree
when he had an interview in M ay^
with Ben Summerwill, Sr., then
chairman of Iowa State Bank &
Trust Co. in Iowa City, about bank­
ing opportunities. “He suggested I
talk to Newt Black, the Iowa super-*
intendent of banking,” Mr. Maser
recalls, “about training as a bank ex­
“I was really a product of th e ^
‘50s,” A1 remembers. “Banking^
then was a live and let live business;
problems were few, but earnings
were modest as well. After I took
the job offered me at the banking^
department I left school to start;
work the following Monday morn­
ing! Those six years in the banking
department really taught me a lot
about the banking business and I
always be indebted to Tom Roach,

the background or, preferably, ask if
they can come to the next directors
meeting and present their views in
With the same sense of humor he
has retained throughout his year as
association president, Mr. Maser in­
terjected, “ If you think all those ap­
proaches aren’t good enough, do
what I did—run for office!”
Educational Efforts Are Important
Touching on another area of
importance to all Iowa banks, Mr.
Maser said, “We’re going to have to
really get into the educational arena
even more than we have already,
especially with our CEOs. They’re
the ones who have to train their
staffs and we m ust find the way to
assist them professionally for the
next few years. I t’s incumbent for
CEOs to train their staffs with all
the changes and new competition we
face, and they must know how to do
this. IBA’s educational process can
help achieve that goal.”
Io w a N ew s

the senior bank examiner, for being
•s u c h a good teacher.
“My home town was Holstein,
just east of Sioux City. In January,
1959, after six years with the bank­
ing department, I had an opportuni­
t y to join the First National Bank in
Le Mars as cashier. During my first
two or three years there, I made the
acquaintance of an older gentleman,
_ Myron Brought, who was chairman
• o f the First National Bank in Sibley.
After his death they found a note he
had written referring to me as ‘that
nice young man—give him the
^opportunity to buy the bank.’ That
wwas in January, 1962.
“ I went in to talk to my bosses at
the First National in Le Mars—
Clyde Eastman, who was chairman,
^ a n d Oscar Fristad, the president—
to tell them of the offer I had. How­
ever, they wanted me to remain at
the Le Mars bank, so with their
agreement, I remained at Le Mars
^ a n d went ahead and bought the
First National in Sibley as well.
Then, two years later, in 1964, they
offered to sell me the Le Mars bank,
which I still own today. Later, I sold
the Sibley bank.”
During his ownership of First Na­
tional in Sibley, Mr. Maser had the
unique distinction of being one of
the first national banks in Iowa to
^obtain permission from the Comp­
troller to open a branch office. It was
located at Lake Okoboji in the com­
munity of Arnolds Park. When the
Sibley bank was sold later, Mr.
•M aser spun that office off separate­
ly and later capitalized it at
$300,000 as Lakes National Bank.
Buying banks in those days twen­
ty years ago, A1 Maser recalls, was
•q u ite different from today. “We en­
joyed bank stock loans at one and
two percent under prime!” Em­
phasizing his earlier statem ent
about the state of banking in the
• ‘50s and ‘60s, Mr. Maser states,
“Banking was a basic business
then—you din’t go for the long
bomb. It was just three yards and a
cloud of dust, as they say in
•fo o tb all.”
Market Place Changes Banking
But, today, he notes, market
forces and deregulation have com^bined to force many changes upon
the commercial banking business.
“Within this context,” he stresses,
“ IBA represents all Iowa banks,
large and small. We must work
^together. If we do our future looks
more promising than ever.”
Federal Reserve Bank of St. Louis

In pursuing that course that tries
to represent those diverse banking
interests, the IBA has been called on
in the past couple of years to make
some difficult decisions through its
board of directors. Mr. Milner states
that he thinks “the discussion of in­
terstate banking (this past legisla­
tive session) shows IBA is willing to
look at the issues, debate them and
take a position.”
We asked Mr. Maser if he feels
those issues were fully discussed by
board of directors members and if he
felt any of them were inhibited from
expressing their personal feelings
about any issue discussed. “Our
board acts very responsibly,” he em­
phasized. Then he smiled and said,
“We’ve had bankers who sat in on
our board meetings, as any member
can do, and after some of our very
open exchanges of opinions we’ve
had them tell us, “I ’m just glad my
directors aren’t that charged up at
our board meetings.”

“ I h o p e w e h a v e c r e a te d an
a w a r e n e s s th a t w e ’re n o t
j u s t in b a n k in g a n y m o r e ,
b u t in th e fin a n cia l s e r v ic e s
b u s i n e s s .” — A1 Maser
IBA Services for Members
Neil Milner said IBA makes every
effort to encourage and make it pos­
sible for any member to express an
opinion about IBA projects or legis­
lation that may require IBA to take
a position. “We have a statewide
WATS line,” he notes, “members
can express thier opinions and re­
quests to the office in a letter, they
can talk to their own board of direc­
tors member or any officer or mem­
ber of the staff. I t’s their association
and we want each member to feel he
or she can ask for information or ex­
press an opinion at any time. If any
of them bring a matter to our at­
tention and ask for it to be con­
sidered, we put it on the agenda for
the board to discuss, or pass it to the
legislative committee if pertinent to
that group.
“If the member’s request or sug­
gestion is complicated,” Mr. Milner
continued, “we ask them to write us

Mr. Milner stated, “Al’s theme
for this year, ‘New Banks—New
Bankers,’ shows that one of the
most important things we have to
do is help our bankers realize there
are significant changes in our indus­
try, and that they’re not just
competing in their own community
anymore but nationally and world­
wide for deposits and other
Regarding the changing com­
petitive environment, A1 Maser
notes that he has a Sears office com­
peting with him in Le Mars and
says, “ I ’ve never felt personally
threatened as long as I serve my
Mr. Milner added, “One of the
roles we have is to make everyone in
our business understand their costs
so they can price products and ser­
vices correctly to produce a profit.”
Mr. Maser agreed and said “ I ’d real­
ly like to have one more year to work
Northwestern Banker, September, 1984


Io w a N ew s

e x p r e s s an o p in io n at a n y

cording to Bob Bunn, president, anc^
that is the hiring of David Detwiler
from Amboy, 111., to serve as vice
president and office manager at the
Stanwood branch.
Loren Mortvedt will remain ir^
Olin as vice president and office
manager and Tom Jepson, executive
vice president, will manage the Clar­
ence office.

t i m e .’’— Neil Milner

National Examiner Promoted

“ It’s th e ir (m e m b e r s ) a s s o ­
c ia tio n an d w e w a n t e a c h
m e m b e r to fe e l h e or s h e
ca n a s k for in fo r m a tio n or

with CEOs and help them in a train­
ing program we could develop for
Resolving Current Farm Distress
Going back to the current basic
problem that is affecting so many
community banks in Iowa, Mr. Mil­
ner said “there is no single handle on
our critical ag loan problem. We
have some farmers in the state with
no debt who have a high value and
are surviving or making fairly good
money. At the other extreme, we
have highly leveraged farmers who
are in worse trouble than ever
before. There is also a layer in be­
tween we need to save.”
Mr. Maser agreed, adding, “ Iowa
banking is synonymous with all
rural America and we bankers who
are dealing directly with ag
customers realize their problem lies
in our economy...and we have to
work together in seeking a solution,
then work together in implementing
that solution. I know we have seri­
ous problems we must yet resolve,
but I ’m optimistic about the future
of Iowa agriculture and banking.
There are better days to come.”
Mr. Milner noted “there are also
some excellent tools to work with—
FmHA, USDA, and our new MASI
real estate program which will be an­
nounced in September. In another
area, IBA is sponsoring a meeting
(held at IBA headquarters August
17) with various business and indus­
try groups to get support for ABA’s
drive to support the call for a bal­
anced budget amendment. We must
insist that Congress adopt a fiscally
prudent approach to government.
There’s no way to bring down the de­
ficit and interest rates without re­
sponsible government.”
Referring again to the dependence
of the state and its communities and
banks on agriculture, Mr. Maser
closed by saying, “Ag is our basic
economic industry and nothing is

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

more important than for all of us to
work together in finding the solu­
tion that will bring us out of the ag
recession we’re in.”

Max Larson Named President,
First National, Sioux City
The board of directors of First Na­
tional Bank in Sioux City and Banks
of Iowa, Inc.
have announced
that Max J. Lar­
son has been ap­
pointed p re si­
dent and chief
executive officer
of the bank.
M r. L arso n
m ost recently
was senior vice
p re s id e n t
Brenton National Bank of Des
Moines, and was responsible for all
lending and commercial banking
functions. He began his career at the
Brenton Bank in 1971, and prior to
that time, served as vice president
and director of the Federal Discount
Corporation. Mr. Larson is a 1958
graduate of the University of Iowa.
He has served as an instructor for
the American Institute of Banking,
in addition to being past chairman
of the Iowa Chapter of Robert Mor­
ris Association and past director of
the American Lung Association.

Merger Completed for Olin,
Stanwood and Clarence Banks
On July 30, the merger of Clar­
ence Savings Bank with the Union
Trust and Savings Bank of Stan­
wood and Olin, was completed. The
merged bank is called Community
State Bank, with facilities in Clar­
ence, Stanwood and Olin. It has to­
tal assets of $50 million.
Only one personnel change has oc­
curred as a result of the merger, ac­

Dennis M. Dunleavy has been
promoted to national bank exami­
ner. A graduate of the University of^
Notre Dame, Mr. Dunleavy has been
employed by the Comptroller of the
Currency since 1979, most recently
as an associate national bank exami­
ner. Mr. Dunleavy, who is currently^
headquartered in Iowa City, will be
transferred to St. Louis, Mo., by the
end of the year.

Earling Director Elected
Todd M. Langenfeld, cashier of
Farmers Trust & Savings Bank,
Earling, has been elected to the
banks board. He replaces Dorothy*
Heese, who recently resigned. Mrs.
Heese has served on the board for
over 25 years and is the widow of the
late Alf J. Heese, who was CEO oL
the bank at the time of his death in“

Sac City Addition Told
David C. Jones has joined^
Citizens Savings Bank, Sac City, as
assistant vice president. He replaces
Larry J. Henderson who is now with
Norwest Bank, Bettendorf.
Mr. Jones formerly was with PCA^
in Storm Lake.

Fiftieth Anniversary
Celebrated in Eldridge


Central Trust and Savings Bank
of Eldridge celebrated its 50th Anni­
versary August 4. The bank was
formed in 1934 as the result of a #
merger of Eldridge Savings Bank
and Peoples Savings Bank, El­
dridge, and Stockmens Savings
Bank of Long Grove. The bank has
grown from $500,000 in assets in #
1934 to $60,000,000 in assets in
Robert J. Tank, chairman, has
been with the bank since its begin­
ning in 1934 when he served as cash-#

•* %k
mm. '

J u st th is o n c e , w e ’r e g o in g to b lo w
o u r o w n h o r n . W e’v e b e e n s e le c te d a s
th e R e m o d e lin g D e s ig n e r o f d ie Year
by C o m m ercia l R e m o d e lin g m a g a zin e.
Mot ju st th e b e s t in Io w a . . . o r d ie
M idw est. Kirk G r o ss w a s s e le c te d d ie
b e st in d ie n a tio n .
We sp e c ia liz e in n e w c o n s tr u c tio n a n d
r e m o d e lin g o f F in a n cia l In stitu tio n s.
C o n tact u s tod ay a n d let u s d e s ig n a
w in n e r fo r vou .



4 0 1 5 A lexan d ra D rive
W aterloo, Io w a 5 0 704
Federal Reserve Bank of St. Louis


Io w a N ew s

ence problems. General retailers^
have shown some improvement, buu
G ROUP chairmen of the Iowa
In general, we all have to realize any significant improvement will
Bankers Association have sub­ that we are doing business with new have to wait until the farm economy
mitted the following reports on farm rules. With historically high “real recovers on a broader basis.
and business conditions in their interest rates” (cost of borrowing
Group 4
money less inflation rate) too much
J. Bruce Meriwether, president,
debt is terminal. Also, deflation of
Group 1
land values has put tremendous First National Bank, Dubuque:
Bruce M. Kolbe, president, United pressure on agriculture in general.
Things in North­
Central Bank & Trust Company,
The combination of these two pro­ east Iowa show
blems with no relief in sight has far more promise
M o st of our
changed the attitude from comfort than at anytime
crops in this area
and the good life to concern over sur­ in the last two
have thrown off
vival on the farm and in small com­ years. Employ­
the bad effects
ment is up; retail
of the wet, cool
sales continue to
planting season,
toming out of the very bad times we in c re ase , and
except for some
are experiencing. Excellent crop pro­ there is even
lowland areas in
spects and the possibility of lower some activity in
th e M isso u ri
interest rates around the corner the real estate market. There are#
River basin. The
more “believers” that the recovery
should help our economy stabilize.
summer weather has been kind to
is real, and of course, great hope
late planted corn & beans.
that it can be sustained.
The prospects of an excellent har­
The agricultural environment is
vest will have a negative effect on
still laboring under the impact o f#
prices, as fall corn deliveries have in N o rth e a s t
heavy debt loads and high interest
fallen sharply to the $2.50 level.
rates. The long range outlook is hard
experParticipation in the farm program ienced
to call, but there certainly are severe
is about at the state average in our growing condi­
short-term problems in our area. The
area, and these farmers will benefit tions for crops,
crops look excellent and with reason-#
with a oig crop and resulting lower although recent­
able prices may help carry our agri­
business through this difficult peri­
ly rainfall has
Retailers in both the larger & been very spotty
smaller communities continue to be and crops planted
My sense is that our attitudes
affected by the turmoil in the farm on land w ith
have been adjusted to the positive.®
economy. We would expect and hope light soil have
Let’s hope that the post-election
to see some improvement here by started to show signs of deteriora­ months will at least find stability in
the end of the year.
tion. Farms with heavier soil should interest rates, and a continued con­
Group 2
produce crop yields that will equal or tainment of inflation. Northeast
Douglas McDermott, president, exceed last year’s harvest. However Iowa, or the Midwest for that mat-®
Home State Bank, Jefferson: The timely rainfall is very much needed ter, cannot take another jolt as we
crop prospects
have experienced the last few years.
to insure this production.
in our area are
Reports predicting a bumper
lo o k in g v ery
crop, along with a weakening of de­
Group 5
good. The only
mand, seem to have stagnated grain
Donald L. Curry, president, Farm­
exceptions would
prices, although grain producers ers Savings Bank, Massena: South­
be in areas with
who have elected to participate in west Iowa had a
excess moisture
the government program should very wet spring.
during the plantbenefit from the price protection it All farmers had
seaso n .
a difficult time
Prices have been
The livestock market appears to p lan tin g th eir
excellent until
reflect a strengthening position. crops. Once the
recently but are showing some signs Hog prices should improve with an cro p s
w ere
of rebounding because of the hot dry increased demand for pork prices, p la n te d , th ey
August we are experiencing.
due in part to a general improve­ grew well, and as
Livestock has had another poor ment in the total economy. Cattle of this date corn
year for profits. The farrow to finish prices should also strengthen and beans look
hog producer has made money, but because of the reduction in the num­ very good. Some of the beans are
feeder pig finishing has not done as ber of non-fed beef currently being late. The corn fields have spots^
well. We did not have the predicted slaughtered.
where there is little or no corn grow­
run-up in prices as forecast earlier in
Retail and commercial business ing, because of the wet spring. It ap­
the year.
still has not recovered from the ef­ pears we could have a good crop at
Retail and commercial business fects of the farm problems. Those harvest time, if we do not receive a
conditions have deteriorated from a businesses which are directly reliant storm and have a seasonal fall.
year ago in the small communities. on ag sales are continuing to experiBusiness has been sluggish all

Group Chairmen Report Area Conditions

estern Banker, September, 1984
Federal Reserve Bank of St. Louis


T h e S ta f f o f
Iow a B a n k e r s In su r a n c e an d S e r v i c e s , In c.

See us at the 98th IBA Convention
Booths 5 and 6
visit our
IBISs NEW Location
104 East Locust Street
Monday, September 1 7
4:30 to 7:30 p.m.

I o w a B a n k e r s I n s u r a n c e & S e r v ic e s , I n c .

1-800-532-1423 or (515) 286-4300
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984


Io w a N ew s

year because farmers are not pur­
chasing unless it is badly needed.
Merchants are bothered with past
due accounts. Business in general
has not been good. Farmers in
Southwest Iowa overall are experi­
encing difficulty with cash flow.
This has quite an impact on Main
Street. Recent decline in grain prices
has added additional gloom. Farm­
ers are basically pessimistic.
It is quite possible when harvest
time arrives and the bins are full,
most everyone will feel that rural
Southwest Iowa is a good place to
live. Our land did not over inflate as
badly as other areas of the state;
therefore, it does not have as much
adjustment downward. All are hop­
ing for a better farm economy soon.

new jobs to the work force this year.
Other economic indicators that re­
flect business vitality include more
airline passenger and cargo traffic
along with new residential building
permits up 62% and new non-residential permits up 33%.

Group 8
David J. Malloy, vice president,
Farmers Trust & Savings Bank,
W illiam sburg:
Crops in the
group 8 area are
all the way from
“ a v e ra g e ” to
“better than we
could expect!”
The old saying,
“ ra in m akes
grain” is so per­
Group 6
tinent in the fact
David N. Walthall, President, that we could use some moisture;
Hawkeye-Capital Bank & Trust, Des however, we are in far better shape
M oines: Des
than we were last year at this time.
Moines is very
Farmers and businessmen who
alive and well.
are borrowing large sums of money
The economic in­
to run their operations are experi­
dicators are up
harsh cash flow problems.
and the unem­
Each year cattle loans seem to make
ploym ent rate
up a smaller percentage of our loan
for June stands
The effects of last year’s
at 3.7%. This is
are now being severely
the lowest unem­
felt by our livestock farmers.
ploym ent rate
Implement dealers and car deal­
for the month of June since 1979.
ers who are surviving are those with
The announcements of Greyhound good shop business, low inventories
Lines, Inc. to consolidate the ac­ and little borrowed money. Any
counting offices into a single facility dealership that utilized the theory
that will employ 900 new employees that you have to be leveraged to the
and the Armstrong Rubber Com­ hilt
has either closed its doors or is
pany to expand their facility with in serious trouble.
hiring 300 additional employees has
Low-equity retailers are feeling
helped transform Greater Des severe pains from the sluggish agri­
Moines into a thriving business cultural economy. The more estab­
community. The Greyhound an­ lished businesses seem to have a lit­
nouncement is the largest number of tle more staying power due to the
jobs by a new employer since 1965. fact that they can live on their equi­
The site was chosen because of its ty. A major concern of many com­
central geographic location, the high munities is that of trying to find
quality of the area’s work force, and someone to replace a business that
a positive business environment.
has closed due to the poor economy
The Greater Des Moines Chamber or the retirement of the owner.
of Commerce’ Executive Call Pro­
New housing starts have been vir­
gram has identified over sixty cur­ tually non-existent. Home sales
rent and planned manufacturing and have been slow; however, many new
service industry expansions. These
and creative contract
existing firms will create 600-700 innovative
sales are being put together.
Competition for the dollar is
fierce. Customers with money to in­
vest are seeking the highest rates of
return. Loyalty to the bank that
helped them get started and invest­
ing in their community are two
things which are not on the top of
the investors’ minds.

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

Group 7
Gordon L. Wold, president, Powe­
shiek County Savings Bank, Brook­
lyn: Conditions
compared to a
year ago are
vastly different
but yet so com­
p a ra b le .
closing comment
last year was
that bank earn­
ings appear rea­
sonably good,
but potential loan problems cast a
shadow on the bottom line. In this#
regard, 1984 is not much different
from 1983. However, the good news
compared to last year is that crops
in all sections of Group VII are look­
ing extremely good at this point in#
time. In fact, in many eyes the crops
are the best ever. While the farm
prices in general are less than satis­
factory, many farmers will be utiliz­
ing the farm program. The hog farm-#
ers are faring somewhat better than
a year ago, and cattle business con­
tinues on the decline in Group VII.
Other business news is mixed.
Some of the cities report retail sales®
increase of 7-8%, with motor vehicle
sales good in the entire Group area.
However, farm-related machinery
manufacturing continues to feel the
squeeze. With unemployment in af-®
fected areas running the highest in
the state, retailing is hurting and
collections are tough.
The general feeling continues that
the present farm dilemma will not be®
resolved in the near future. And as
we all know, Iowa’s total economy
revolves around agriculture. Much
anxiety exists!!
Group 11
John F. O’Neill, chairman and
president, First National Bank, Bur­
lington: The
farm and busi­
ness economy in
our group area
remains at a de­
pressed level due
to the plight of
agriculture and
the fact that we
have some heavy
m an u factu rin g
industries that are still climbing
from the recent recession. Our area
seems to be slower to recover than
other parts of the economy.
The current crop prospects in this ®
area are excellent at this time. We


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Alaska & Hawaii (612) 251-3060
Federal Reserve Bank of St. Louis

Bankers Systems,

Box 1457, St. Cloui
Attn: Jim Lind

Northwestern Banker, September, 1984

Io w a N ew s
have been blessed with timely rains duced a very negative attitude
and it appears that the big question among farmers toward any capital
mark is the price the grower will re­ expenditures. As a result, sales of
ceive for his harvest. A good crop new implements are nil. Motor vehi­
will improve cash flow, stimulate cle sales have been good, but most of
agricultural implement sales and en­ it is attributed to the group who
able our customers to reduce debt.
does not have to borrow money to
make the purchase.
Cattle on feed are probably near a
30 year low. Hog and dairy numbers
are holding their own. This decline
Stan Smith, chairman, Rock Rap­ in livestock feeding has drastically
ids State Bank: The industrial sector changed the make up of the loan
of our economy is beginning to re­ portfolios of our banks.
cover from the severe slump of the
Most all lenders are experiencing
past two years. While this sector problems within their loan port­
represents a modest percentage of folios. It appears that more prob­
the area totals, employment has lems are surfacing in 1984, than
doubled from the low point and is 1983, in the agricultural area. The
now approximately 75% of that at matter of diversion of collateral and
the previous peak. These firms and proceeds is a concern. We are exper­
their employees are experiencing net iencing the frustrations associated
income that is encouraging some in­ with Chapter 1 1 , as it applies to
vestment in capital goods and real farm operators.
I feel there is general agreement
The agricultural sector of the eco­ that the present environment has
nomy is floundering. Crops appear created a stress condition which has
to be near average, but most all not been present during the past 50
areas are in need of moisture as of years. We hope that a spirit of coop­
mid-August. Grain prices coupled eration and patience will prevail, to
with production costs have pro­ see us through to better times.

vist our booth
during the
H A W K E Y E B A N C O R P O R ^ 'O ^ ,,0 ^

Iowa’S s h in in g
Stephens Bldg
d ps Moines

B anking


Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis



Two Join UCB in Algona


United Central Bank and Trust
Company of Algona has announced
the addition of Larry Hudson as as­
sistant vice president dealing with
real estate and consumer loans, anc^
William Kahler as assistant vice
president dealing with agricultural
Mr. Hudson formerly was with
Home Federal Savings and Loan for®
eight years.
Mr. Kahler, a graduate of Iowa
State, has been employed the last
five and one-half years in Hinckley,^
111., in the loan area.

Manning president Named
James R. Johnston has been
named president and a director of®
Manning Trust & Savings Bank,
Mr. Johnston previously was with
First Trust & Savings Bank, Alta,
for seven years as chief executive of-®

Dick Taylor Joins Piper,
Jaffray in Sioux City


Richard C. Taylor, well-known
former president and chief executive
officer of First
National Bank
in Sioux City,
has joined the
Sioux City office
of Piper, Jaffray
& Hopwood, a
M in n e a p o lis b ased in v e s t­
ment firm.
Mr. Taylor re­
signed his former
position effective June 30. He is a
native of Odebolt, la., and began his
banking career with Kiron State
Bank. Later, he became an examiner
with the Iowa department of bank-*
ing, then joined First National in
Sioux City in April, 1961. He served
as head of the correspondent bank
department, vice president and
cashier, senior vice president, and<
was elected president and chief oper­
ating officer in December, 1973. His
advancement to chief executive of­
ficer followed in September, 1976,
after First National was purchased (
by Banks of Iowa, Inc.
Mr. Taylor has a wide acquaint­
anceship among bankers throughout
northw estern Iowa and across
northeastern Nebraska and south- *
eastern South Dakota.







t r


t e



Your o p p o n e n ts in th e fin a n c ia l fie ld a re
g e ttin g m o re c o m p e titiv e e v e ry d a y . To s ta y
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th a t b rin g s in to p la y s tro n g fin a n c ia l s e rv ic e s
a n d te a m w o rk . T h a t m e a n s c o rr e s p o n d e n t
b a n k in g a t A m e ric a n Trust & S a v in g s .
T h e re ’s a lo t to b e g a in e d w ith
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a n d in v e s tm e n t c o u n s e lin g , w ire tra n s fe r o f
fu n d s , C u s to m H R -1 Os a n d K e o g h p ro to ty p e s ,
h e lp y o u d e liv e r im p o rta n t s e rv ic e s to y o u r
c u s to m e rs s e a s o n a fte r s e a s o n .
E v e ry s tra te g y w o rk s b e s t w ith ta le n te d
te a m w o rk . So A m e ric a n Trust h a s b u ilt a n
im p re s s iv e p ro fe s s io n a l lin e u p . B e rn ie M ille r
a n d h is c o rre s p o n d e n t b a n k in g te a m s h a re
o v e r 100 y e a rs o f te a m e x p e rie n c e a n d
tra in in g . T h e y ’re p ro s .
C a ll o r v is it th e m today. 3 1 9 /5 8 2 -1 8 4 1 .
From left to right standing: Bernie Miller, Second Vice
President Correspondent Banker; Gene Hayertz, Vice
President Investments.
Seated: Christy Armstrong, Consultant; Don Wand, Senior
Vice President Operations.

A m c r k a n l& T r u s t
Dubuque, Iowa 52001


S a v in g s D a n l^


Member Federal Reserve System and Federal Deposit Insurance Corporation
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984

United Central Bank welcomes you to the
Iowa Bankers Convention. Our Iowa Corre­
spondent Services Division is dedicated to
keeping you abreast of the many financial
changes taking place.
UCB’s commitment means assisting you in
managing a profitable and efficient comm u­
nity bank.

Federal Reserve Bank of St. Louis


Federal Reserve Bank of St. Louis


Io w a N ew s

I BA Securities Offers Brokerage
Service to Iowa Banks Through AID
curities, a new firm designed to
strengthen and expand the competi­
tive position of the Iowa banking
community, was announced in Des
Moines last month by the Iowa
Bankers Association.
The company has been formed as
a division of AID Securities Corpo­
ration in Des Moines. In the future,
the IBA can exercise its option to
purchase the firm when the trading
volume is sufficient to support oper­
ations. “This arrangement allows
banks to enter the program without
initially investing substantial oper­
ating and capitalization funds, and
virtually eliminates the risk to the
IBA during start-up,” according to
Neil Milner, IBA executive vice
Previously, the IBA identified the
need for a securities program that
would work more for the benefit of
the banks than the brokerage firms.
Yet very few Iowa banks have the
resources to design and implement a
similar securities service of their
own, because the start-up costs
would range from $200,000 to
$300,000. Consequently, “the IBA
was looked to as a vehicle to provide
a cost-effective, bank-oriented, bankcontrolled securities company,” ex­
plained Mr. Milner.
IBA Securities was developed by
bankers for bankers. In August of

Neil Milner (left), exec. v.p. of the Iowa
Bankers Assn., and James I Mackay, pres,

and c.e.o. of AID Securities Corporation,
jointly announced formation of IBA Securi­

1983 a committee was formed to ex­
plore those options that would pro­
vide a realistic means of entry into
the securities business both for par­
ticipating banks and the IBA.
Based on input from bankers around
the state, the committee designed
the program to meet their needs and
goals, as well as offer an exciting op­
portunity for growth in a new and
competitive market.
During the past two years many
banks have added brokerage ser­
vices as a method to generate fee in­
come, to maintain control over cus­
tomer funds, as a means of cross-sel­
ling other bank services, and as a de­
fensive measure. “The benefits of of-

S h a w , jy jc D e r m o t t &

(^ o .

I n v e s t m e n t S e c u r itie s

DES M O IN E S , IO W A 50309

5 1 5 -2 4 3 -6 1 1 9


issued by Iowa Cities, Counties and School Districts

O v e r F ifty Y e a r s o f S e rv in g Io w a B a n k s a n d B a n k e rs .

Banker, September, 1984
Federal Reserve Bank of St. Louis

fering the program are obvious, b u ^
bankers considering brokerage acti­
vities should realize that much more
is on the line than stocks and
bonds,” suggested Ann Tod, IBA
securities coordinator. “Bank b ro ^
kerage is an excellent way to tie in
customers, but unless banks offer
high quality, reliable service, they
can significantly jeopardize their
customer relationships. We createcj^
IBA Securities so banks can offer a
top notch brokerage program and
continually maintain control over
the type of service provided,” she
In addition to being able to offer
their customers another service, par­
ticipating banks also will share in
the commissions generated by the
program. Initially, they will receive#
25% of the gross customer commis­
sions, which will increase to 30%
when the average commissions
reach $65. Beyond that, the profits
of the company will be distributed to#
banks based on their level of partici­
Operations training sessions were
held July 30-August 3 in Iowa City,
Waterloo, Storm Lake, Des Moine^®
and Clarinda, with approximately
55 Iowa bankers in attendance. Par­
ticipating in these sessions were Ms.
Todd and four representatives of
AID Securities—Sally Winters, di-®
rector of operations; Elizabeth Mil­
ler, broker; Brian Nygaard, trea­
surer and controller, and John Lepley, compliance officer.
Ms. Todd said further training®
sessions will be made available to
bank groups within the near future.
A comprehensive marketing plan
has been designed to provide the
most effective and efficient means®
for bankers to advertise and sell
their new service. The plan promotes
a full line of bank products through
cross-selling and the implementa-tion of an officer call program. Me-®
dia support, in-bank materials and
sales training also are included in
the package to insure that bank offi­
cers are comfortable and familiar^
with the products and process.^

Clinton V.P. Retires
Willis J. Grimm, vice president of#
Clinton National Bank, retired July
1 after serving 38 years at the bank.
Mr. Grimm started in the instal­
ment loan department and most re­
cently was in charge of the mortgage#
loan department.



“I’m Only as G ood as the
Business I D o For You Today.”
Meet Wayne Bismark, Vice
President of Correspondent Banking
at LaSalle National Bank. His com­
mitment to the banking business is
evident in the service he provides. He
is in the business of getting answers
and results... for bankers. His ability
to listen and respond is enhanced by
years of experience and knowledge
of Iowa banking.
W hen your needs are in Safe­
keeping, Wire Transfers, Munic­
ipal Bonds, Letters of Credit,
Federal Reserve Bank of St. Louis

Government Investments and
other operating and credit services
call Wayne Bismark. He’s your
LaSalle National Correspondent
Banker. H e’s the man to help your
banking business.. .Today.

LaSalle National Bank ©
an affiliate of ABN Bank
135 South LaSalle Street
Chicago, Illinois 60603
Member E D.I.C.

Northwestern Banker, September, 1984


Io w a N ew s

Top Executives Elected At
Peoples Trust, Indianola
The board of Peoples Trust & Sav­
ings Bancorp, and Peoples Trust &
Savings Bank has elected James
Davies president; William Buxton
III, chairman, and R. Dean Phillips,
senior vice president of the bank and
vice president and treasurer of
Mr. Davies has been with the
bank since 1952 and fills the vacan­
cy left by the death of Dick Buxton
last month. Mr. Davies started with
the bank as an agricultural represen­
tative. In 1963 he was elected to the
board and in 1972 he was elected se­
nior vice president in charge of the
loan department and president of
Farmers Credit Corporation. In ad­
dition to his new responsibilities as
president of the bank and the hold­
ing company, Mr. Davies will con­
tinue to serve as president of Farm­
ers Credit Corporation. He also was
elected chairman of Peoples Com­
pany of Indianola, the bank affiliate
providing farm management, real
estate and agriculturally related in­
surance services.
Mr. Buxton has been actively in­
volved in the bank’s operations and






management since 1928 and served
as a director for more than 50 years.
He served as president from 1945
until 1972 and chairman until 1983.
During the past year, he has served
as senior vice president and invest­
ment officer. Mr. Buxton also was
elected chairman of Farmers Credit
Mr. Phillips joined the bank’s
staff in 1981 as controller and was


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Des Moines, Iowa 50322

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

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See You at the
Iowa Bankers C onvention

elected vice president in 1983. He^
serves as financial officer ana
assists in bank investments. In ad­
dition to serving as senior vice presi­
dent of the bank and vice president
of the holding company, he will con^
tinue his duties as treasurer of the
holding company. Prior to joining
Peoples Bank, he was employed as
controller for Godwin Brothers In­
vestments, Inc.
Also at the bank, Marge Sams has
been named manager of the West
Roads Office.
Employed by the bank since 1964,
she has worked in loan servicing and®
student loans. In 1983 she was
elected loan officer.

Top Executives Promoted
At Mahaska State Bank


R.S. Howard, chairman and presi­
dent of Mahaska Investment Com­
pany, has announced the promotion
of John Pothoven, executive vice^
president of Mahaska State B ank/
to president, and Rex Blom, senior
vice president, to executive vice
president. Mr. Howard will remain
as chairman of the bank and devote®
his full-time duties to the Invest­
ment Company.
Mr. Pothoven, previously with
Merchants National Bank, Cedar
Rapids, in the correspondent divi®
sion, has been with Mahaska Bank
since 1976. Mr. Blom started as a
farm manager with the bank in 1966
and has been senior vice president
and head of the loan department for®
the past five years.

Michael Murrane Joins
King Management Company^
Michael W. Murrane has joined
King Management Company, Des
Moines, as a vice president and farm
manager. Mr. Murrane spent 19
years in the farm management de®
partment of United Central Bank of
Des Moines, N.A., most recently as
senior farm manager.
Mr. Murrane is a graduate of
Iowa State University. He is a mem®
ber of the American Society of Farm
Managers & Rural Appraisers and
holds the title of Accredited Farm
Manager (A.F.M.) from the Society.
He joins James King, president,®
and Ray Schneider, executive vice
president, at King Management
Company. Both men also are former
officers of United Central Bank of
Des Moines. The firm is located a t#
816 Equitable Building.


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that has provided great service
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over 25 years!
The G.D. van Wagenen Company
offers a wide range of collateral
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needs. Programs like these:
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Invest a few moments now . .
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Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984


Io w a N ew s

correspondent banking; Wayne Bi®
mark, vice president correspondent
banking, division I; Rudy Frank,
vice president, treasury/inventory,
HE 97TH annual convention of Margaret Billings, vice presidents.
and Jim Daly, vice president, com­
the Iowa Bankers Association
mercial services administration. ®
will be held September 16-18 at the
The Northern Trust Company:
American National Bank: Dennis
Marriott Hotel in Des Moines. Offi­ F. Reher and Robert D. Regnerus, Clyde W. Reighard, executive vice
cers and representatives of larger second vice presidents.
president; John V.N. McClure,
banks from major banking centers
Continental Bank: Robert Vasko Michael L. Kubacki and Edward J.
in the Midwest will be attending the
and Robert Holland, vice presidents, Walsh, vice presidents; Stephen JV®
Hamadej and Corinne E. McClintic,
Following the list of bankers plan­ and Mary Nihlean, banking officer. second vice presidents; James F.T.
ning to attend is a list of personnel
Drovers Bank of Chicago: Frank Monhart and Loren A. Lange, com­
from investment, service and equip­ E. Bauder, chairman; James J. Car- mercial banking officers; John P.
ment firms registered for the con­ mody, president; Robert F. Corey, Drawer, bond investment office#
executive vice president; John J. and Marilyn T. Hamadej, financial
Crotty, Jr. and Max A. Roy, senior services officer.
Cedar Rapids
presidents; Kathleen T. Hardy,
Merchants National Bank: Henry
president, and Daniel S. Bleil,
Royer, president and chairman;
Bank & Trust Con#
John E. Mangold, senior vice presi­
First National Bank: Thomas M. pany: John Kahl Figge, president;
dent; Terry M. Martin and Jerry N.
Trudo, vice presidents; Stanley R. King and Clarence E. “Bud” Cross, James Kahl Figge and Thomas Kahl
Farmer, Douglas E. Keiper and vice presidents; David J. Varnerin, Figge, executive vice presidents;
Richard E. Retz, assistant vice pres­ assistant vice president, and Paul A. Robert G. Lenertz, James E. Shra­
idents, and Lynn Whiteman, corre­ Gargula, commercial banking officer. der and Richard R. Horst (cashier#
spondent banking officer.
Harris Trust: Louis C. Brown, as­ senior vice presidents; Michael A.
Bauer and Glen W. Piotter, first vice
Peoples Bank and Trust Co.: John sistant vice president.
presidents; Robert J. Hartman, vice
M. Sagers, president; Don G. Ellis,
LaSalle National Bank: Hill Ham­ president; James R. Peterson, assis­
executive vice president; Lawrence mock, executive vice president, com­ tant vice president; Walter F. B uet#
E. McGrath, senior vice president mercial banking; Emil Schubert, ner, correspondent officer, and
and cashier, and James L. West and vice president and division II head, David C. Howell, correspondent rep­
Des Moines
Bankers Trust Company: John
Ruan, chairman; Herman C. KilpROUP
per, president and chief executive of­
B a n k In s u ra n c e S p e c ia lis ts
ficer; Lawrence H. Frowick, Ben G.
8555 Harbach Blvd., Des Moines, IA 50311 • (515) 223-6205
Eilders, Robert M. Young, Jr. an®
Joseph M. Bognanno, Jr., senior
vice presidents; Donald H. Jordahl,
Arnie Ripperger and Michael L.
Feeney, vice presidents, and Kay D.
Backman, assistant vice president®
Hawkeye Bancorporation: Paul D.
Dunlap, president; Robert W. Mur­
ray, executive vice president; Don­
ald R. Runger, Lewis L. Lowe and
Stephen L. Jones, senior vice pres#
dent; Steven B. Barger, vice presi­
dent, marketing/sales, and John C.
Foley, assistant vice president.
Norwest Bank Des Moines: E.G®
“Bud” Precht, chairman and chief
Ask us how
executive officer; George Milligan,
president and chief operations offi­
at the
cer; H. Lynn Horak, executive vice
president; Voldy Vanags, senior vie®
president, and Mark E. Conway ana
Thomas L. Quinlin, second vice pres­
Sept. 16-18
United Central Bank: Robert G.
Millen, president and chief executivO
officer; James W. Eiler, senior vice

You Will See Them at the 98th
Annual Iowa Bankers Convention



We’r e H elping B anks
Change the Word
Into ‘I n vestm en t’

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis


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When you register for the Annual Convention,
you’ll be given a key from Iowa Public Records
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# 2 C orporate Place, 1501 42nd S tre e t* W est D es Moines, Io w a 5 0 2 6 5 • P H O N E : (51 5) 2 2 3 -1 1 5 3
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984

Io w a N ew s
president and senior lending officer;
Phill Rowley, senior vice president
and chief financial officer; Gene E.
Loverink, senior vice president;
Michael Austin vice president and
manager, Iowa correspondent ser­
vices; Kenneth D. Danilson, William
J. Duma and Vern Hoskinson, vice
president; William V. Mullins, assis­
tant vice president; Michael Fuson,
operations officer; Margo E. Foxhoven, operations assistant, Joan
Thompson, investment officer; Cliff
Curtis and Dean Roth, investment
services rep; Cheral Buhr, investor
services rep; Doug Walkup, funds
management specialist, and Diane
Grotenhuis, secretary.
UCB Systems, Inc.: William Dawdy, president and chief executive of­
ficer; Rich Davis, executive vice
president; Larry Glass, vice presi­
dent; Claude Dawson, director
customer support; Walter Astor,
data center manager, and Steve Tur­
ner, financial marketing officer.
Valley National Bank: J. Locke
Macomber, chairman; Marvin E.
Mazie, president; Will J. Hoekman,
senior vice president; William A.
Wishman, vice president and comp­
troller; Mark Christen, vice presi­
dent, correspondent banking divi­
sion, and Mark L. Hamilton, vice
president, marketing.
American Trust & Savings Bank:
Nicholas J. Schrup, chairman; Wil­
liam D. McGeehan, president; Leo
F. Kane, executive vice president;
Bernard D. Miller, second vice presi­
dent, and Christy F. Armstrong, di­
Kansas City
Commerce Bank of Kansas City:





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Federal Reserve Bank of St. Louis

Ernest A. Yake, senior vice presi­
dent; Tom R. Jennings, assistant
vice president, and John Shrader
and Steve Fletcher, bond officers.
First National Bank: Roger M.
Arwood, vice president and group
manager, regional corporate group.
United Missouri Bank: Richard C.
King, president; J. Lyle Wells, Jr.,
vice chairman; Phillip D. Straight,
executive vice president; Richard H.
Muir, vice president; David A. Dick­
ens, investment officer, and Jeffrey
P. Goble, assistant vice president.

St. Paul
First National: Richard C. Swam
berg, senior vice president, and
Clayton Johnson, vice president.
Sioux City
First National: Max J. Larsoi#
president, and Gary W. Stevenson
and Douglas A. Schmidt, vice

Security National: R.E. “Gene^
Hagen, president; Richard A. Wah
ler, senior vice president; Dennis
Nahnsen, vice president; Ron Kiel,
correspondent representative; Tom
Hromatka, operations officer, an^
Wilma Weeks, cash management
F&M Marquette: John D. Cam­ services officer.
pion, vice president; Richard E.
Holmes, assistant vice president;
National Bank: Scott Fetne^
Craig A. Bishop, investment consul­
tant; Michael Hay and Michelle president; Erl Schmiesing, senior
LeCuyer, trust administrator, and vice president/cashier; Bill Richert,
Michael Weinberger, account execu­ Byron Loving, Willis Crees, James
Freet and Milt Hennick, senior vice
tive, Marquette Lease Services.
presidents; Everett Brown, vic^
First National: Robert J. Ander­ president; Sherry Jaeger, assistant
son, executive vice president; Ken­ vice president, and Leroy Bell, data
neth A. Wales, senior vice president; processing officer.
Michael E. Boncher, Sally A. Laux
and Michael T. Mishou, vice presi­
Investment, Equipment and ^
dents, and Richard K. Flesvig and
Service Firms
William W. Hamilton, assistant vice
AGRIcareers, Inc., New Hampton:
presidents, all with First Bank cor­ Linda R. Heit and Jean Eden, ag
respondent banking. Donald D. banking personnel specialists.
Mikelson, assistant vice president,
B&D Distributing, Tipton: D ea#
and Ralph H. Weickel, bond invest­
Weih, president; Krista L. Weih,
ment representative, both with First
and Diane C. Kleppe, as­
Bank Minneapolis.
Bank Building Corporation, St.
Louis: Roy Wingers, senior co n su l
First National: Bruce Lauritzen, tant.
Dennis O’Neal and Bill Henry, exec­
Banks of Iowa Computer Ser­
utive vice presidents; Don Ostrand,
Inc., Cedar Rapids: Larry
Chuck Fries and Jim Bonham, vice
presidents; Fred Kuehl, second vice Clore, business development m ar^
president, and Jerry Tomka and ager; Kirk Kaalberg, market analyst,
Tom Jensen, agricultural represen­ and John Meechan and Steve Boes,
business development representa­
Norwest Bank Omaha, N.A.:
Bell & Howell, Golden Vallej#
James R. Campbell, regional presi­
dent; John R. Cochran, president; Minn.: Leo Strachan, regional sales
G.W. “Sam” O’Keefe, executive manager, and Bob Weatherly and
vice president; Edward A. Kohout, Gary Nickerson, sales representa­
senior vice president; Howard W. tives.
Nielsen and Robert E. Billmeyer,
Bell & Howell, Business Data P r #
vice presidents; William J. Dew- ducts, Rutherford, N.J.: Vaughn
hurst, Thomas C. Jackson and Sells, central regional sales man­
Stephen J. Navin, second vice ager, and A1 Zamin, account man­
presidents; Brad Nebergall, finan­ ager, central region.
cial institutions officer, and John H.
Brandt, Inc., Wayzata, Minn.:
Westering, card services officer.
James O. Grimes, district manager,
Omaha National Bank: John E. and David Grimes, Scott Grimes
Martin, senior vice president; Daniel and Mark Grimes, sales representa­
F. Boehle and Delmar J. Olson, vice tives, all in Omaha. Dick Martin a n ^
presidents, and John F. Wear, sec- David Crew, sales representatives,

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Federal Reserve Bank of St. Louis


Io w a N ew s

Security National Opens
Customer Convenience Center

Cindy McWilliams and Jane Stangj)
marketing support representatives.
Electronic Data Systems Corp.,
Richardson, Tex.: Scott Brennecke,
Dawn Huffman and Wayne Dalton,
EDS marketing representative^;
and Drue Porter, EDS marketing
Electronic Office Systems, Des
Moines: Edgar A. Herrman, p re ^
dent, and Rhonda Griffiths, sales
Elliott Flying Service, Inc., Des
Moines: Richard Flesher, sales man­
ager, and William E. Clark, Rig®
department manager.
Farmers Grain and Livestock Cor­
poration, West Des Moines: Doug
Hjort, manager of advisory services:
Jay Calhoun and Jim Dahlke, custo­
mer relations, and Ed McAndrews,
sales representative.
Financial Systems, Inc., Kearney,
Neb.: David Stochl and Bob Nevill^
area representatives.
First Lease & Equipment-Con­
sulting Corp., Louisville, Ky.: J.L.
“Jan ” Bennion, senior vice presi­
dent, and Robert F. Scheitzach, viH
First National Leasing Corpora­
tion, Oak Brook, 111.: Gene Monroe
and Dennis O’Connor.
FN Bankware, Inc., Omaha: Wil­
liam F. Goedken, president and chief
executive officer, and Michael D.
Heywood, associate consultant.
General Bank Equipment & S j#
terns, Inc., Omaha: Lowell R.
Harms, president; Tom Sternberg
and Jerry Kruntorad, systems spe­
cialists; Jim Rogers, service man­
ager; Frank Meier and Mitch H i^
service technicians, and Kermit Cor­
nelius, video technician.
Kirk Gross Company, Waterloo:
Gerald L. Gross, president, a i^
Robert Jamerson, director of arclm
tectural services.
Haworth, Des Moines: Dave McCurnin, sales executive; Debra Ew­
ing, senior architect and design re j|
resentative, and Andy Earhart, divi­
sional manager.
HBE Bank Facilities, St. Louis,
Mo.: Dennis Whittington, account

Security National Bank of Sioux
City, recently announced the open­
ing of its new Customer Conveni­
ence Center located at the Main
Bank. According to Richard Waller,
senior vice president, the Customer
Convenience Center is a new concept
of fast, professional and convenient
stand-up banking.
The Center is designed especially
for customers who only have a few
minutes to spend on bank business,
or for those who simply want to take
care of routine banking matters
such as: account openings, account
information, renewing certificates,
ordering checks, notary services, to
make loan payments, etc.
Prior to the introduction of the
Convenience Center, the personal
bankers spent approximately 40%
of their time waiting on customers
for these routine matters.
Security’s personal bankers, lo­
cated adjacent to the Convenience
Center, are now in a better position

to spend more time with those custo­
mers needing in-depth banking busi­
ness such as: investment advice,
IRAs, approving loan applications
or providing general financial coun­
“Thus far, customer acceptance
has been very positive,” says Lois
Boone, vice president of retail bank­
ing. “Transaction volume at the
Convenience Center has increased
by 41% during the first 90-day

both in Peoria, 111. John Bruns and
Steve Bruns, sales representatives,
both in Madison, Wis.
Burroughs Corporation, West Des
Moines: Mark Larson, branch sales
manager; Chuck Taylor, Ron Pieracci and John Washburn, marketing
managers; Dale Beatty, Marv McElvain, Arden Sustad and Glen Anspach, account representatives; Mike
Barsema, district marketing sup­
port manager; Jill Thompson, mar­
keting support representatives,
Chris Kakert, and Joe Hess, soft­
ware services. From the Sioux City
Office of Burroughs: Mark Stuck,
branch sales manager, and Randy
Luebe, account representative. In
addition, representatives from the
Cedar Rapids and Davenport sales
offices will be in attendance at the
Karma Cahill Fine Art and Fram­
ing, Cedar Falls: Karma Z. Cahill,
owner; Elaine Kamerick, sales asso­
ciate, and Kent Hendersen, framer.
Century Microcenters, West Des
Moines: Todd Ferson, chief execu­
tive officer, and Ron Gipple and
David Hacker, account executives.
Chiles, Heider & Company, Oma­
ha: David Van Metre, senior vice
president, and Jon Narmi, Jeff Mor­
an and Tad Dunham, vice presi­

Claremar Fabrics, Atlantic: Wil­
liam Lippincott, president, and Mar­
garet Lippincott, vice president.
Cummins-Allison Corporation,
Des Moines: Keith H. Jung, branch
manager, Des Moines-Omaha, and
Rich McCoy, branch manager, Da­
Daktronics, Inc., Brookings, S.D.:
Jim Thomas, sales agent, Daktron­
ics, Inc.,; Mike Kramer, president,
Midwest Sign, and Bernie Wright
and Phil Garland, Electra Sign.
Data Business Equipment, Des
Moines: Art Joura, president; Don
Jones, vice president, and Lynn
Groen and Larry Remele, sales.
Deluxe Check Printers, Inc., Des
Moines: Bruce Christensen, zone
sales manager, and Steve Spark,
sales representative.
Des Moines Stamp Manufactur­
ing Company: Tom Child, vice presi­
dent; Randy Miller, national sales
manager; John Higgins, production
manager, and Ken Dular, sales rep­
Diebold, Inc., Des Moines: Roger
Swanson, regional manager, and Ga­
vin Cushman, account manager.
Holder and Associates, Ames:
Holder, president.
Electronic Business Equipment,
Des Moines: Virg Kray, branch man­
Homestead Management Sys­
ager, and Chris Kray, marketing tems, Inc., Des Moines: Glen A. BdP
representative, Des Moines, and meister, president; Tamera J. Jen-

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

sen, marketing director, and David
% . Miles, market development di­
Hussey & Co., Mason City: Doug­
las J. Scholl and Brent Hewett.
« IAC Group, Des Moines: Craig
Ross, state director, and Mark
Havemann and Kathryn Foster.
IBA Services, Des Moines: Linda
Robinson Gay.
Iowa Bankers Insurance & Ser­
vices, Des Moines: IBIS staff.
Iowa College Aid Commission,
Des Moines: James E. Shay, execu­
tiv e director, and Gary W. Nichols,
assistant executive director; Robert
W. Paton, associate director; JoAnn
Barnes and Robert A. Redman, field
representatives, and Patricia C. PadHock, Iowa PLUS program man­
ager, all in the loan division.
Iowa Public Records Search, Inc.,
West Des Moines: Elaine Bump,
^president; Clyde Foster, computer
system consultant, and June Hyatt,
vice president, sales.
ISC Systems Corporation, Spo­
kane, Wash.: Vicki Parrish.
^ ITS, Inc., Des Moines: Gayle Wel­

ter, manager of information and cus­
tomer service; Greg Shireman, mar­
keting coordinator, and Art Jones,
customer service representative.
LeFebure Corporation, Cedar
Rapids: Larry Stewart, regional
manager; Dave Bublitz, ATM assis­
tant products manager, and Rich
Huston, Jack DuDash, Lon Warren,
Dick Wilson and George Vinson,
sales engineers.
Life Investors Insurance, Cedar
Rapids: Bob Okerstrom, state ser­
vices manager; Mark Greenberg, na­
tional marketing director; Charles
Kraut, claims and compliance man­
ager, and Thomas K. Runnells, mar­
keting representative.
M&I Data Services, Milwaukee,
Wis. (Division of Marshall & Ilsley
Bank): Jeff Dorward, computer ser­
vices officer, and Jim Wojtak, mid­
west sales manager.
M&M Sales Company, Des
Moines: John Miller, vice president;
Larry Perry, sales manager, and Pat
Graves, Tom Dunn, Mark Clarke,
Vern Feyen, Rick Thorpe, Larry
Warren and Bart Christianson, sales

Iowa N e w s
Maynard Printing, Inc., Des
Moines: Norman A. Still, executive
vice president; Carolyn K. Shannon,
secretary/treasurer; Donald David­
son, and Maralyn Smith.
McGladrey, Hendrickson & Pul­
len, Des Moines: John Hoyt and
John McCune, p a rtn e rs, Des
Moines, and Jim Koltveit, partner,
Moline, 111.
MGIC, Des Moines: Gordon Chap­
man and Allen Wardenburg, ac­
count executives.
Microcom Inc., Cedar Rapids:
Joseph F. Phernetton, president;
Robert F. Duff, executive vice presi­
dent; Sandra Young, technical con­
sultant, and Laura Lehner, office
Music Service Inc., Des Moines:
Ron Purcell, sales manager; Greg
Fontanini, sales representative, and
James Carter, general manager.
National Computer Systems, Inc.,
Dunwoody, Ga.: Linda Ricketts.
NCR Corporation, Des Moines:
Jim Schulte, Marcus Wilson, Nancy
Shaver, Lori Bents Inverson and
Dave Freeman, Des Moines; John
Evans and Steve Patterson, Daven-

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P.S. Stop by our booth and hosp ita lity suite at the Iowa Bankers Convention
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984

Io w a N ew s
port; Leonard Fagan, Sioux City;
Dave Heath, Mason City; John Peglow, Cedar Rapids; Glen Simpson
and Kalon Sarby, Waterloo; Steve
Morrison and Kathy VanHauer,
Omaha, and Bob Lapinski and Steve
Reinke, Minneapolis.
Nesper Sign Advertising, Cedar
Rapids: Larry Sovern.
Office Concepts, Ltd., Waterloo:
Harold W. Schoonover, president;
Jerry Spurgat and Ross Schoon­
over, vice presidents, and James H.
Jones and Marc Emerson, represen­
Omni Resources, Inc., Altamonte
Springs, Fla.: Mark Lehner, vice
president, sales, and Bob Chamberlain, vice president, director of sales
PCA International, Inc., Mat­
thews, N.C.: Geoff Squire and John
Phillips, regional account director,
Precision Computer Systems,
Inc., Sioux Falls, S.D.: Bruce
Professional Image, Ltd., Chica­
go: Beverly Lannon, president, and
Debbie Martens, marketing repre­
United States Check Book Com­
pany, Omaha: Ed Batchelder, vice
president, and Chuck Strattan, Glen
Altfillisch, Tom Potthoff, Bernie
Burger, and John Kohring, sales
U.S. Life Credit Life Insurance,
Des Moines: Bob Eller, regional vice

president; Bob Milinsky, field vice
president, and Bob Atess, Tom
Scherer and Scott Votava, district
Zytron, Des Moines: Jacki Ander­
son, account manager; Diane Beery,
product sales representative; Bill
Mingst, sales representative; Jerry
Smith, regional marketing manager,
and Dan Stence, marketing man­

only 7 Iowa companies admitted ^
the system.

New Correspondent Head,
V.P. Promoted in Sioux Cityi

Dennis A. Nahnsen has joined
The Security National Bank in Sioux
City as vice president and manager
of the correspondent bank depart­
ment, and Steven W. Corrie h #
been promoted to vice president of
the finance division. The announce­
Hawkeye Bancorporation
ment was made by Gene Hagen,
Enters Natl. Market System president and chief executive officer
Hawkeye Bancorporation’s com­ of the bank.
mon stock was added to the
NASDAQ National Market System
effective August 14.
Stephan L. Jones, senior vice
president - corporate development,
announced Hawkeye’s entry into the
National Market System, which is
operated by the National Associa­
tion of Securities Dealers. The com­
pany’s participation in the system
will provide investors with last sale
prices and up-to-the-second volume
Mr. Nahnsen previously was em­
ployed at Norwest Bank Des Moines,
The National Market System pro­ N.A. He began his career there jpi
vides investors with the same con­ 1976 as business development offi­
tinuous transaction data and price cer in the corporate trust and em­
quotations as the exchanges. Hawk- ployee benefits area, and later was
eye has ten market makers compet­ promoted to vice president and de­
ing to execute customer orders com­ partment head. Mr. Nahnsen jo in ^
pared to a single specialist on the Norwest Bank’s correspondent bank
floor of the exchange.
department in 1981. He was named
Hawkeye Bancorporation is the head of the department late in 1983.
first Iowa-based bank holding com­
Prior to joining Norwest, Mr.
pany qualified for admission to the Nahnsen was employed by the Con­
National Market System. It is one of tinental Illinois National Bank &
Trust Co., Chicago, and by the Chi­
cago office of Merrill Lynch.
Mr. Nahnsen is a 1966 graduate
of Drake University, where he i#ceived his Bachelor of Science de­
Underwriters of
gree in accounting. He was reared on
a farm near Jefferson.
Tax-Free Iowa M unicipal
Mr. Corrie joined Security Bank
in 1980 after three years previo#
O bligations
experience with local financial insti­
tutions. Later that year he was ap­
pointed controller of the bank.
Financial C onsultant
Mr. Corrie majored in business
administration and economics a # l
to Over 70 Iowa C ities
received his degree in 1976 from
Morningside College. He also re­
ceived his certificate in management
accounting from the National Asso­
ciation of Accountants in 1982. •
Your In vestm en t Strategy


R a ym o n d G. Jo h n s to n
V ic e P re s id e n t

= L e t Us H elp In

200 D es M oines Building • D es M oines, Iowa 50308
Telephone 515-247-8197 Wats 800-362-2520
Member of the Securities Investor Protection Corporation

Northwestern Banker, September, 1984
Federal Reserve Bank of St. Louis

Postville Cashier Retires
Helen Gray, cashier for Postville
State Bank, retired August 1 a ft#
40 years of service to the bank.



Employers Mutual Offers Free,
Accurate Building Cost Appraisals.
The key to insuring your business to
value is accurate building cost appraisals;
the kind you get free of charge from your
independent insurance agent who repre­
sents Employers Mutual Companies.
Using the w orld’s largest, m ost dynamic construc­
tion cost data bases, your EMC representative can
provide you with an accurate electronic system for
calculating replacem ent costs. Our cost appraisals
reflect up-to-date local labor m aterial costs, and
annual adjustm ents are m ade to account for fluc­
tuating cost factors in your area.
With this accurate information, you are m ore apt
to bring your commercial insurance coverage into

line with current values. As an EMC policyholder,
y o u ’ll enjoy the p eace of m ind of know ing that
should a loss occur your policy will cover rebuilding
Overcom ing underinsurance is ju st one of the
m any com m ercial insurance problem s EMC has
tackled head on. We did it by working together; put­
ting our people, products and services to work solv­
ing the everyday insurance problems of industry.



Em ployers M utual Com panies
Des Moines, Iowa 50309
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984


Io w a N ew s

Two Advanced in Mason City
United Central Bank & Trust of
Mason City has elected Douglas K.
Gulling vice president and cashier.
He joined the bank in 1982 as vice
president and chief financial officer
after serving as the auditor for
United Central Bank of Des Moines.

ience as a commercial banker and
small business owner, will be pro­
cessing loan applications, maintain­
ing bank and client relationships
and promoting small business loans.

Four Staff Changes
Announced in Dubuque

Dubuque Bank and Trust Com­
pany recently announced several ap­
pointments and additions to the
bank’s staff. Robert F. Neuwoehner
has been appointed senior vice presi­
dent for business development and
Ken Erickson, CPA, has been ap­
pointed a vice president in the com­
mercial lending division.
Mr. Neuwoehner previously was
employed for 45 years by the St.
United Central also announced Regis Corporation, most recently as
the promotion of Timothy Shanahan general manager of the St. Regis
to marketing officer. Mr. Shanahan Dubuque facility.
is a graduate of Iowa State Univer­
Mr. Erickson joined the bank in
sity and joined the bank in June 1976 in the consumer loan depart­
1982 as marketing assistant.
Melvin Miller has joined the trust
Appointed in Cedar Rapids
department of the bank and Gary
Robert Doolittle has been ap­ Miller has joined as agricultural
pointed loan officer for the Cedar loan officer and manager of the
Rapids Office of the Small Business bank’s Sherrill bank office.
Melvin Miller, who has an MBA
Mr. Doolittle, who has past exper­ in finance from Ball State Univer­

Committed to
making your
bank stand
apart from the

for FRASER Banker, September, 1984
Federal Reserve Bank of St. Louis



sity, has past experience as an in­
structor of finance and investment
courses at Loras College.
Gary Miller, a graduate of th #
University of Arizona, previously
served as a loan officer with the
Farmers Home Administration in


One Joins Wheatland Staff
Douglas A. Gibson has joined the
staff of First Trust and Savings
Bank, Wheatland, as assistant vie#
president and office manager at the
Dixon Branch.

Iowa Banking Pioneer
Charles Whiting Dies


Charles G. Whiting, 93, thought
of by many as one of Iowa’s banking
pioneers, died last month in a Maple^
ton nursing home after a brief ill­
Mr. Whiting was born May 5,
1891, at Mapleton. He graduated
from Mapleton High School in 191(^
and Iowa State University Law
School in 1913. After college he
began as an attorney and officer of
the Mapleton Trust and Savings
Bank in 1913. Following his servic^
in World War I, he returned to
Mapleton to resume his banking
career at the Mapleton Trust and
Savings Bank, founded by his father
in 1878. He married Agnes Hester ii^*
1917. She died in 1966. He served as
president of the bank from 1951 to
1969 and at the time of his death
was chairman of the board of direc­
In addition to many years of in-


Iowa Nows

volvement in civic affairs, Mr.
W hiting donated the land known as
Whiting Woods Park to the Montona County Park Board. In 1967 he
donated the major portion of the
joriginal site of the Mapleton Public
juibrary and was co-donor of the Fis­
cher-Whiting Memorial Library.
Survivors include one son, James,
who currently serves as president of
^Mapleton Trust & Savings Bank. He
is also survived by one daughter of
Boulder, Colo., five grandchildren
and seven great grandchildren.
Mr. Whiting was also well-known
ationally and internationally for
is famous Maple Valley Iris Gar­
dens. He was the winner of the high­
est award given to any world Iris
grower, the prestigious “Dykes
^,ledal,” which he received for his
development of the Iris “Blue
Rhythm” in 1950.


Norwest Sponsors Seminar
¿ o r Small Business Owners
Norwest Bank Des Moines, N.A.
will sponsor a two day financial
management seminar September 2627 for owners and managers of small
lousinesses, according to Michael
Carver, vice president in charge of
commercial business development
at the bank.
The seminar is entitled Financial
Management for the Closely Held
Business. The curriculum is de­
signed to provide small business
owners with a working knowledge of
what effective financial manage­
m en t is and how it can improve their
business profit picture, Mr. Carver
said. Topics examined during the
course of the seminar will include
budgeting and profit planning, utili­
satio n of ratios as effectiveness indi­
cators and break-even analysis, he
The seminar will be conducted by
Steven L. Cranfill, a partner in the
Seattle-based consulting firm of
Management Advisory Services,
Inc. Mr. Cranfill previously was
with Rainier National Bank where
.he was responsible for consulting
etnd appraisal activities for closelyheld businesses. He has participated
as a guest speaker at various profes­
sional organizations on the topic of
^financial management and estate
The seminar will take place at the
Des Moines Marriott Hotel. The fee
for the course is $325 which includes
^he course text, related materials
and a luncheon each day.
Federal Reserve Bank of St. Louis

W e’r e
S ecu rity
for% u !
At Security National Bank, w ere people you can count
on to handle all of your Correspondent Banking needs.
Our team of Correspondent Bankers are committed
to giving you the finest possible Ag Lending, Overline,
Data Processing and Investment Services available.
So, start corresponding with us. We’re Security for you !

Dennis Nahnsen,
Vice President and Manager
Correspondent Banking
Services 712-277-6768.

Sioux City Iowa 51101 712-277-6768

1984 SNB

Northwestern Banker, September, 1984


Iowa News

p o in tm e n t of
Joan Thompson
as investm ent
Ms. Thompson
came to United
Central Bank in
June, 1982, as a
bond representa­
tive in the in­
vestm ent divi­
sion, and was
later named an investment service
She graduated from Drake Uni­
versity with a bachelor of scien^
degree in business education. Sne
was employed with R.G. Dickinson
& Co. as a broker prior to joining
United Central Bank.
The following promotions were re­
cently announced at Norwest Bank
Des Moines, N.A.
Carol A. Barkley, second vice
president, has assumed new duties
as cash management sales represen­
tative working with the client execu­
tive program. She transferred from
Norwest Information Services in
1976 as a computer service represen­



John J. Cretzmeyer has been
named national banking officer. He
began with the bank in 1981 as re­
gional credit trainee and is a gradu­
ate of the University of Iowa where
he received his BA in economics and
his MBA in finance.
Jeff D. Eaton has been named
credit analysis officer and will be
joining the credit department. He
started with the bank in 1981 as an



Digitized Northwestern
for FRASER Banker, September, 1984
Federal Reserve Bank of St. Louis

agricultural administrator in the
trust farm management depart­
ment. Mr. Eaton is a graduate of
Iowa State University with a BS in
animal science.
Michael R. Trafton has been
named bond investment officer. He
joined Norwest Bank Des Moines in
1975 and worked at the bank’s
Army Post, Urbandale and West of­
fices before assuming a position as
bond investment representative in
March, 1984. Mr. Trafton is a 1979
graduate of Drake University.

Rick Hickman has joined West
Des Moines State Bank as first vice
p resid en t, ac­
cording to David
L. Miller, chair­
man and presi­
dent. Mr. Hick­
man will be re­
sponsible for de­
veloping a dealer
o p e ra tio n to
serve the invest­
ment needs of
state bankers as
* * *
well as participating in bank invest­
David M. Walthall, president of
Mr. Hickman formerly was asso­
Hawkeye-Capital Bank & Trust, has ciated with United Central Bank for
announced that
the past 10 years, most recently ‘M
Chris E. Fenivice president and manager of the
more has taken a
bank’s investment department.
position as trust
* * *
officer with the
bank. He will be
Holmes Foster, president a «
p rim a rily in ­
CEO of Banks of Iowa, Inc., recently
w ith
announced the
tru s t business
appointment of
Jeffrey B. WeePrior
to , Jjoin^
den as assistant
ing Hawkeyevice president,
Capital Bank & Trust, Mr. Fenimore corp o rate ta x
was the assistant industrial commis­ and profit plan­
sioner for the State of Iowa. He took ning.
his undergraduate studies at Simp­
Mr. Weeden is
son College, Drake University and a 1979 graduate
Hawaii Pacific College. He holds a of Iowa State
degree in business administration U n i v e r s i t y ,
and in December, 1983, graduated Ames, where he received a BS in i ^
from the Drake University law dustrial administration and econom­
ics. He is a certified public accoun­
* * *
Prior to joining Banks of Iowa,
United Central Bank of Des Mr. Weeden was associated wit^|
Moines, N.A., has announced the ap- Ernst & Whinney, Des Moines.

Iowa News

Mark Esbeck has been elected vice
president in charge of commercial
cial lending at
Valley National
Bank. Also an­
nounced was the
election of Mar­
cia J. Leimkuhler
c o n su m er
lending officer
d Karolyn J.
itt to re a l es­


ta te le n d in g o fficer.




® Mr. Esbeck, previously serving in
the same position with another Des
Moines bank, is a graduate of the
University of Iowa, where he re­
ceived a BA degree in English and a
™IBA degree in finance.
Ms. Leimkuhler joined the bank
in 1981 as senior personal banker.
She is a graduate of the University
nf Missouri with a BS degree in con­
sumer economics.
Ms. W itt joined in 1983 as a real
estate loan representative. She a t­
tended the University of Northern
^)wa and Drake University.



* *

Richard L. Bryan, chairman, Mid­
land Financial Savings and Loan,
Des Moines, has been appointed to a
newly-organized Task Force on
Broader Earnings Opportunities for
Savings Institutions.
The Task Force was created by
Die United States League of Savings
institutions to seek new profit op­
portunities and greater earnings
flexibility for the nation’s 3,500 sav­
ings institutions.
q League chairman Paul W. Prior
said the 28-member Task Force
would develop ways to assist sav­
ings institution managements in
their evaluation of alternative ser­
vice and profit strategies.
Some of the issues the Task Force
will explore include new corporate
opportunities, expanded authority
for savings institution service cor­
p o rations, and legislative and
regulatory changes.
Federal Reserve Bank of St. Louis

You don't have to be a big bank to give your
customers big bank services—like estate planning.
Now, First National Bank can bring it to you.
That's right. At First National, our trust depart­
ment is full or estate planning experts. Our correspon­
dent bank officers—Bill Manring, Jeff Harrison, Bob
Holt or Mark Thompson—will be glad to set up a
group seminar or an individual consultation with you.
So give us a call. With the help of First National,
you can offer big bank estate planning, too. No matter
what size you are.

First National Bank

St. Joseph, MO 64502 • Call: (816) 279-2721
Affiliate of First Midwest Bancorp., Inc.
Member FDIC

Northwestern Banker, September, 1984


Iowa News

Farmers State, Marion
Offers EFT Workshop
A unique learning opportunity is
now available to financial institu­
tions whose management is curious
about the feasibility of entering into
electronic banking services. The op­
portunity, known as “Electronic
Funds Technology” or “EF Tech”
has been developed by officers of
Farmers State Bank, Marion, la.,
which now has assets exceeding
$110 million.
According to bank board chair­
man Morris F. Neighbor, EF Tech is

a seminar and workshop designed to
acquaint those attending with basic
electronic banking procedures.
Farmers State Bank has offered its
customers electronic banking ser­
vices since 1978 and draws upon
that experience for this seminar. The
bank holds a position of industry
leadership in Iowa with 18 automa­
tic teller machines in operation and
an electronic banking department
staff of six.
The program, presented by FSB
officers, presents information and
advice for establishing, operating
and marketing the service, on retail


and commercial levels. P a rtic ip a tif
financial institutions are also in­
vited to observe the routine of
FSB’s electronic banking depart­
ment and witness maintenance of on
and off premise ATMs.
More information may be obtained
from Farmers State Bank Vice Pres­
ident Jerry Higgason (1240 8th
Avenue, Marion, Iowa 52302 or call

Clear Lake Appointment Told
Ray Hewitt, president of Clear
Lake Bank and Trust, has announced
the appointment
of Roger Wal­
ston to vice pres­
ident and agri­
cultural repre­
se n ta tiv e . He
replaces Robert
Grabinski, who
retired April 30.
Mr. Walston
jo in s
a fte r


If your microcomputer is gathering dust in the corner of the bank,
it’s probably not the computer’s fault. Most likely you just don’t have
the right software. Or maybe you purchased software through the
mail and aren’t sure how to use it.
MICR0C0M has the resources you need to get your micro working
full-time. We have over 30 years financial experience and a thorough
knowledge of financial software. We’ve researched the field and only
represent software companies with strong products and track
records. Companies that have demonstrated a commitment to the
financial industry.
At MICR0C0M we can analyze your particular situation, choose the
micro software that fits your needs and level of expertise, and get you
up and running with personal training. If desired, we can also advise
you on a microcomputer purchase.
Samples of available software:
■ Loan Calculation and Document Preparation
■ Commercial Loan Credit Analysis
■ Safe Deposit System
■ Fixed Asset Management System
■ General Ledger System
■ Asset/Liability Management
■ Planning and Control
Your microcomputer can help you increase your effectiveness as a
manager and decisionmaker. It can work for you full-time. At MICROCOM we’d like to show you how.

For more information call Bob Duff or Joe Phernetton now at
319/378-1378, 1221 Park Place N.E., Cedar Rapids, Iowa 52402.

 Banker, September, 1984
Federal Reserve Bank of St. Louis


six years with United Central Bank
in Greenfield, where he held a
similar position.


C I Ft I O

th e b a n k
s p e n d in g




Tingley State Savings
Bank, Mt. Ayr, Is Closed
The Tingley State Savings Bank
of Mt. Ayr was closed August 10
order of Iowa Superintendent of
Banking Tom Huston, after exami­
ners determined the bank had ex­
hausted its capital. Hawkeye B ait
corporation, which owns H aw ked
Bank and Trust in Mt. Ayr, pur­
chased the failed bank from the
FDIC, assumed Tingley State’s ap­
proximately $17 million in d ep o sit
and opened the failed bank and its
Tingley office the next Monday
morning as offices of Hawkeye Bank
and Trust. The latter bank has ap­
proximately $32 million in deposit^
The FDIC was paid a premium of
$275,000 by Hawkeye Bancorporation Paul Dunlap for the deposits,
$1.9 million installment loans and
approximately $3.6 million in oth^p
assets of Tingley State. When it be­
came known the bank would have to
be closed, Bids from potential pur­
chasers were taken by FDIC at the
Marriott Hotel in Des M oin#
Thursday evening, August 9.
All depositors of the Tingley
State were protected in the purchase
and assum ption contract with
FDIC. It was estimated there w as#
total of about $400,000 in deposits

Iowa News

in the bank in excess of the $100,000
Amount insured by FDIC.
Three straight years of ag loan
problems were blamed for the de­
mise of the Tingley State Savings
Bank, which had been moved from
tin g le y into Mt. Ayr just two years
ago. The bank had a pre-tax loss of
$711,000 in 1983 after a loan loss
provision of $873,000 and an actual
w rite off of $831,000 in bad loans,
^ h e situation worsened this year
when the June 30 statement showed
a further loss of $227,000 and a loan
loss provision of $219,000. Of the
^250,000 in charge-offs, $193,000
was in ag loans.

Index of


For Correspondent Bank
services, there’s a big
advantage to working with
Valley Bank’s Professional
In fact, there
are two.
These two professionals make up our Correspondent Bank and
Money Desk Departments. We’re not the biggest in Iowa but we
think you’ll agree our service is the best.

^ I D Securities Corporation, Des Moines........................... 71
American Bankers Association.......................................... 19
American National Bank & Trust, St. Paul........................ 47
American Trust & Savings Bank, Dubuque...................... 81
Bank Building Corporation, St. Louis ................................. 3
Bankers Systems, Inc., St. C lou d....................................... 79
ja n k e r s Trust Company, Des M oines............................... 66
uentral States Health & Life, Omaha................................. 37
Century MicroCenters, Des Moines................................... 93
Commerce Bank of Kansas City..........................................13
Continental Illinois National Bank, Chicago ................... 38
Daktronics, Inc....................................................................... 10
Darien Micro Systems, Inc....................................................18
eluxe Check Printers............................................................5
es Moines Rubber Stamp C om pany............................... 90
R.G. Dickinson & Company, Des Moines........................... 94
C.L. Downey Company ........................................................41
Drovers Bank of C hicago................................................30-31


Employers Mutual Companies, Des Moines..................... 95
F & M Marquette National Bank, Minneapolis................. 44
^ n a n c ia l Systems, Inc., Kearney....................................... 91
™ rs t Bank Minneapolis/St. Paul..........................................26
First Lease & Equip. Consulting Corp.................................25
First Interstate Bancorporation ................................... 52-53
First National Bank, C hicago..............................................11
First National Bank, Lincoln................................................65
First National Bank, O m aha................................................63
First National Bank, St. Joseph......................................... 99
• j r s t National Bank, Sioux City ......................................... 69
i-N Bankware, O m aha..........................................................21
Gross, Kirk Company, Waterloo..........................................75
HBE Bank Facilities, St. Louis........................................22-23
Hawkeye Bancorporation, Des Moines............................. 80
Homestead Management Systems, Des M oines............. 86
C Group ........................................................................ 12,88
wa Bankers Insurance & Services, Inc.............................77
Iowa Public Records Search, Des Moines......................... 89


Kooker, E.F. A ssociates......................................................78
LaSalle National Bank, Chicago ....................................... 85
MBU, Inc., Omaha ................................................................64
Merchants National Bank, Cedar R ap id s ........................... 2
^ic ro c o m , Cedar Rapids....................................................100
Monroe Systems for Business............................................15
National Bank of Commerce, Lincoln............................... 60
North Central Companies ..........................................102-103
Northern Trust Company, Chicago ..................................... 9
Norwest Corporation.......................................................... 104
ff ice Concepts Ltd., W aterloo......................................... 96
hnaha National Bank ........................................................6-7


Security National Bank, Sioux C it y ................................... 97
Shaw, McDermott & Company, Des M oines..................... 84
Systems Resources Corporation ..................................16-17

Travelers Express Company, Minneapolis....................... 49
United Central Bank, N.A., Des Moines ....................... 82-83

Mark Christen
Vice President and Head
of our Correspondent
Bank Division
Mark Christen is Vice Presi­
dent in charge of the Corre­
spondent Bank Division. He’s
responsible for helping you
with Overlines, Transit Ser­
vices, and Investments.

Dennis Hagedorn
Vice President and
Money Desk Manager
Dennis Hagedorn manages
Valley Bank’s Money Desk.
He’s the one to count on to
help with Federal Funds, Cer­
tificates of Deposit, Safekeep­
ing, Securities, and Wire

Mark and Dennis make a good team. Both are dedicated bankers.
They’re always ready to give you their undivided attention, regard­
less of how small or large your request. And what’s more, they
consider it a privilege to work with you.

There’s Nothing Like Money in the Bank...
The Valley Bank

Valley National Bank iii

Member F D IC


Discover the Valley advantages.
Call TOLL FREE (800) 622-7262 (Iowa, only).

® klley National Bank, Des Moines....................................101
Van Wagenen, G.D. Company, Minneapolis..................... 87
Federal Reserve Bank of St. Louis

Northwestern Banker, September, 1984

No Company,
Anywhere In The
United States,
Can Give
Your Bank
As Much Help
In Running
A Smooth,
Profitable Credit
Operation As
North Central

Protection all ways

North Central Life Insurance Company

In Minnesota call 800-792-1030.
In Iowa, Wise., North and South Dakota 800-328-1612.
All other states 800-328-9117.
Federal Reserve Bank of St. Louis

Compare For Yourself.
How Does Your Current Credit Insurance
Company Measure Up Tb North Central Life?
North Central
Life Offers

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gf n
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North Central
Life Offers

What Your

Fast, Computerized Claim

Home Office Customer Service

Insurance Plans That Fit Virtually
Every Loan Situation

Simple, Automated Premium
Reporting System

Special Programs for the Large

Computer-based Measurement and
Control System to Help You Manage
Your Business

Nation-wide Toll-free WATS Service

Personalized Training For Your
Support Personnel

Instant, Over-the-phone Rate
Calculations For Difficult Loans

Simplified Procedures Manuals For
Administrative People

Instant, Over-the-phone
underwriting approval for over-limit

Complimentary Sales Aids,
Brochures and Point-Of-Purchase

Sales and Insurance Training
Programs Designed for Bankers

Free Analysis of Your Current
Insurance Operations

Incentive Plans to Help Increase
your Productivity

“Captive Company” Capability

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What Your

Professional, Experienced Account
Field Representatives

If You’re Not Getting All Of These Services From Your Current Credit
Insurance Carrier, Maybe You Should Call North Central Life...

America’s Number One Credit Insurance
Service Organization
Federal Reserve Bank of St. Louis




“You’l l know
ju st how good
our secu rities
William G. Jurgensen,
Senior Vice President,
Norwest Bank Minneapolis, N.A.,
Member Norwest Financial Institutions Team

“Securities. They’re a vital part of any bank’s
asset mix.
“No one knows this better than Norwest Banks.
Which is probably why today we lead the way in
providing competitive securities, offering a full array
of taxable and tax exempt investment options.
“First off, we’re committed to being the best in
our business and to the investment needs of our
customers. So we work that much harder to put
together securities packages that are compatible with
your investment strategy.
“Being a major government security dealer
and bank municipal underwriter allows us to deal
more aggressively in all securities. Whether you’re
interested in T-Bills, T-Notes, T-Bonds, Commercial
Paper, Government Agency Securities, or Municipal
Bonds and Notes.
“We pride ourselves on being able to offer some
of the most competitive pricing available. Fact is, we
specialize in odd-lot trades.
“Best of all, our Norwest name gives us the clout
to compete all across the securities board. That
includes staffing up with some 22 top-notch traders
and 45 sales professionals who know the securities
business-inside and out. And then equipping them
with state-of-the-art technology for up-to-the-minute
trends and pricing information.
“Norwest Banks also provides safekeeping and
portfolio analysis services for all your securities. An
added convenience in this fast-paced investment
“So if you’re interested in finding out more about
our securities operation, call 612-372-9464 for the
name of your Norwest Securities Sales Representative.
Or simply call your Financial Institutions Client
Executive at the nearest Hub Bank.”
Hub Bank Locations:
Norwest Bank Aberdeen, N.A.
Norwest Bank Bismarck, N.A.
Norwest Bank Black Hills, N.A.
Norwest Bank Des Moines, N.A.
Norwest Bank Duluth, N.A.
Norwest Bank Fargo, N.A.
Norwest Bank La Crosse, N.A.
Norwest Bank Mankato, N.A.

Norwest Bank Marshall, N.A.
Norwest Bank Mason City, N.A.
NorwestBankMidland, N.A.
Norwest Bank Minneapolis, N.A.
Norwest Bank Omaha, N.A.
Norwest Bank Rochester, N.A.
Norwest Bank Sioux Falls, N.A.

Members FDIC

F in a n cia l Institutions G ro u p


Federal Reserve Bank of St. Louis