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September 21,1987 Des Moines, Iowa ABA Cites Benefits of Farm Secondary Market for Farmers average prices on farm products over the period. The results showed that the vari estate over the past eight years, a able rate mortgage wiped out the typical midwestern farm family hypothetical farm family’s cash sur 'could have saved nearly $ 100,000 in plus of $968 in 1978 and left the interest payments and loss to net family $56,000 further in debt by worth, according to a computer 1986. Additional interest costs model study by the Agricultural under the variable-rate mortgage Bankers Division of the American also sent the farm family’s net worth plunging by $8,514 in 1986, Bankers Association. “This study shows that a secon compared with a gain of $4,866 dary market for farm mortgages under a fixed-rate mortgage. The farmer in the example would would have a tremendous benefit, not only for individual farmers but likely have been out of business in for farm communities throughout five to six years under the variablethe nation,” according to C.G. “Kel rate mortgage unless he found a new ly” Holthus, a member of the ABA source of funds of refinancing on his A gricultural Secondary M arket variable-rate mortgage. (The ABA Task Force. Mr. Holthus is also model assumes stable land values president of the First National Bank because that would be one of the an ticipated benefits of the secondary of York, Nebr. The computer model assumed a market for farm mortgages.) On the other hand, the fixed-rate mortgage on a hypothetical 240 acre Iowa farm with 75 percent financing mortgage would have left the hypo which was bought in 1978. The thetical farm family in far better fi study compared the effects of a nancial condition with a cash sur 30-year fixed mortgage at 9 percent, plus of $968 and a stable net worth which would be available to Ameri throughout the same eight year can farmers through the proposed analysis period. The study also showed that the secondary market for agricultural real estate, compared with a vari net worth of the computer model able-rate farm mortgage over the farm family under a fixed-rate mort same time period. The model al gage would have been nearly lowed for such factors as purchases $71,000 greater than with the vari of new equipment, operating ex able rate mortgage. In addition, the penses, and depreciation, as well as farm family used in the computer FIXED -R A TE, long-term mort had been available through Ia Fgages secondary market for farm real model would have paid an extra $99,000 in interest payments under the variable rate mortgage than it would have under the fixed-rate mortgage. ABA has been instrumental in de veloping a proposal for a secondary market for farm mortgages. Such a secondary market would be similar to secondary markets already avail able to homeowners, such as the Federal National Mortgage Associa tion (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). “Without a seconary market for agricultural real estate,” said Mr. Holthus, “farmers and farm commu nities have been denied the same op portunities and benefits that long term, fixed-rate financing has of fered homebuyers.” Econom ists estimate that every $1 in farm in come is felt seven times through the nation’s economy. “As the ABA computer simula tion shows,” Mr. Holthus said, “the lack of such a secondary market for the farm sector has cost farm fami nes millions of dollars in lost net worth and in additional interest pay ments on variable-rate loans.” Assumptions A BA ’s Leslie Miller, manager of AG M O D EL.. . (Turn to page 4, please) Together We Can Accom plish Great Things Call Dick Retz, MNB Correspondent Banker 319-398-4806 or Toll Free 1-800-332-5991 The" https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Strength of Eastern Merchants National Bank |owa is i Norwest Bank Des Moines , N.A. ■ f fk ll ammmm Call (515) 245-3131 or toll-free (800) 362-2514 NORW ESr BANKS mmmmm M W Member FDIC Bill Yearn work: one of the reasons we’re first in Iowa. John Rigler Dorothea Wolfe Iowa News The Iowa Bankers Association 101st annual convention got under way Sunday, September 20, and con tinues today, concluding with the Inaugural Ball Tuesday evening starting at 6:30 p.m. CEDAR RAPIDS: A letter of intent was signed September 9 for Norwest Corporation to acquire PB Bancorp, its wholly-owned subsidiary, Peo ples Bank & Trust Company, and an affiliate, Peoples Mortgage & In vestment Company. The transaction awaits a definitive agreement, PB shareholder approval and required corporate and regulatory approval. PB Bancorp is the second largest commercial banking company in the area market, with assets of $260 mil lion. George Milligan, Des Moines, Norwest’s regional president for Iowa banking operations, said Nor west plans to combine Norwest Bank Marion, a $90 million asset bank in Marion, which adjoins Cedar Rapids, with Peoples Bank. This would result in Norwest having $350 million in assets and eight banking offices in the greater Cedar Rapids area. Ted Welch is chairman of PB Bancorp and of Peoples Bank, which was founded in 1900. Struve, 46, and his family to pur chase controlling interest in The City National Bank of Cedar Rapids from Peter F . Bezanson and MorAmerica. Mr. Struve resigned last July 13 as senior vice president in charge of indirect retail lending at Merchants National Bank to devote time to this purchase. He and his family have formed Jasand, Inc., a holding company that would pur chase 82% of the City National stock from Mr. Bezanson. The pro posal requires a definitive agree ment and federal regulatory ap proval. Mr. Struve has been in the banking business for 23 years. City National has approximately $30 mil lion in assets. IOWA CITY: Gary J . Ortale has joined Iowa State Bank & Trust Company as vice president and con troller. He holds a B.B .A . degree from Drake University in Des Moines. Most recently, Mr. Ortale was vice president and director of financial planning at Bankers Trust Company, Des Moines. NORA SPRINGS: Randy Bentsen has joined the First State Bank here as vice president and cashier. He was previously assistant vice presi dent and farm manger with the Sac CEDAR RAPIDS: A letter of intent City State Bank. Also, Debbie has been signed by Jam es H. O’Bannion and Bonnie Billings were promoted recently to assistant cash iers. We Can Help With SPIRIT LA K E: Marv Logan has re Your Employment Needs! signed as president of the Bank of Viola in Viola, 111., the position he 4 held the past five years, to return to Iowa as vice president/lending for the State Bank of Spirit Lake. Mr. Logan is a graduate of Drake Uni versity in Des Moines. His past ex- ( perience includes serving as presi dent of the Nevada National Bank and as an officer of Davis County Savings Bank in Bloomfield for 19 years. i W EST DES MOINES: David Ringgenberg has joined W est Des Moines State Bank to head the new ly-created farm real estate division. . He was employed most recently at the Farm Credit Service office in Perry for the past 10 years as a re gional vice president. Illinois News CHICAGO: Leigh Ann Gasser, 31, and Roxann Vitacco, 30, have been named assistant vice presidents of Colonial Bank and Trust. Ms. Gas-* ser held a similar position with Gainer Bank in Merrillville, Ind., before joining Colonial Bank. Ms. Vitacco joined the bank in 1973 and most recently served as assistant manager in operations. South Dakota News M ITCHELL: The appointment of* Larry Thygesen, J r ., as auditor of Commercial Trust and Savings Bank and Commercial Banshares, Inc., has been announced by Les Olson, president. He succeeds Cindy 1 Berndt, who was named cashier. SIOUX FA LLS: Lois Besmer has been promoted to assistant vice president, business banking, and John McGrath has been named a banking officer, both at Sioux Falls headquarters of Norwest Bank South Dakota, N.A., here. Ms. Bes mer is moving to Sioux Falls from Rapid City. Mr. McGrath was lo cated in Deadwood. For Professional Correspondent Service Call 1-800-622-7262 S pe cia lists in Bank R ecruiting and C onsulting Since 1971 □avid L. Hansen, CCP HAMILTON ASSOCIATES 100 Court Ave., Suite 3 0 6 Des Moines, Iowa 5 0 3 0 9 51 5/2 8 2 -0 2 2 1 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ThereJs A Difference In Banks... Valley National Bank ft Main Office - Sixth and Walnut DES MOINES. IOWA 50304 A BANKS O F IOWA BANK Member FDIC ( JAMES F. MacLEAN Vice President H. PETER DeROSIER Vice President Nebraska News ® The Nebraska Bankers Associa tion will co-sponsor a series of eight “How to Use SBA 504” seminars across the state, running from Sep^ tember 29 through October 2. Other ^ sponsors are the SBA, the Nebraska Department of Economic Develop ment and five area development dis tricts in the state. SBA 504 provides £ a business with long-term, fixed w asset financing through a package of private and public sector financing sources, with rates that may be as low as 10% with a term of up to 20 a years. The four days of tight 90minute sessions Eire scheduled as fol lows, running from 9:00-10:30 a.m. and 2:30-4:00 p.m. at each location: Sep. 29—(Morning) U. of N. Panf handle S ta tio n A udi torium, 4502 Ave. “I ”, Scottsbluff. (Afternoon) Keith County Senior Center, 202 W est 9 1st St., Ogallala. Sep. 30—(M orning) M id -P lain s C om m un ity C o lleg e, McDonald-Belton Campus Theater, North Platte. % (Afternoon) Kearney State C ollege-W est Cam pus, Conference Room, Ockinga Seminar Bldg. Oct. 1— (Morning) Central Com# m unity College, 3134 W est Hwy. 34, Grand Is land C am pu s—R oom s B&C. (Afternoon—note starting # time of 3:00 p.m.) Becker’s Restaurant, No. Hwy. 81, Norfolk. Oct. 2— (Morning) Southeast Com m unity College Gym• nasium, 8800 “O” St., Lin coln. (Afternoon) Peter Kiewit Conference Center, Room 104, 1313 Fam am on the • Mall, Omaha. * * * The NBA’s new series of print ads began running today in 19 daily newspapers. Camera-ready ad gloss ies have been mailed to each bank, and banks only need to drop in thenown logo for local newspapers. EU STIS: Don Brockmeier, execu tive vice president of Farm ers State Bank, has been selected to fill the Group 4 vacancy on the NBA execu tive council occasioned by the resig nation of John M. Green, president, Wauneta Falls Bank. As reported earlier, Mr. Green is leaving Neb raska to become executive director of Phi Kappa Tau fraternity head quarters in Oxford, Ohio. Come to the Investment Specialists committed to quality. Minnesota News M INNEAPOLIS: First Bank Sys tem, Inc., has filed applications with the Comptroller of the Currency to consolidate 26 of its Minnesota banks into five new banks, and to consolidate its five North Dakota banks into one bank. The merger will create one bank with 32 loca tions in the seven county metro area by combining the 14 FB S banks and their branches in the Twin Cities. In the rest of the state, 12 FB S banks will be consolidated into four new banks. Each bank will have the name First Bank, followed by a geo graphic identifier in the name. First Bank Minnesota, with offices in Hibbing, Babbitt and Virginia, is not included in this action for it is merged already into a logical market and service area configuration. First Bank E ast Grand Forks will remain a separately chartered bank due to its northwestern location in the state. Minnesota law enacted earlier this year permits metro area banks to consolidate their existing offices. It also permits banks in other parts of the state to increase their number of branches from two to five. The new North Dakota law allows a hold ing company in that state to merge all of its existing facilities. In these times of change and uncertainty, rely on the time-tested quality invest ment recommendations of the Investment Banking Division of United Missouri Bank. lb UNITED MISSOURI BANK Member FDIC q | K a | |S a S C it y , t lA . 10th & Grand • P.O. Box 226 Kansas City, Missouri 64141 • (816) 556-7200 Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE 714 First Interstate Bank Building Des Moines, Iowa 50309 515-283-2545 Estate Appraisals Purchase of Collections Sale of Rare Coins Reliable and respected service for over 20 years Used by bankers throughout the midwest DAVID HUSTON Ben E. Marlenee Coins Where banking professionals come to find banking professionals ALL F E E S EMPLOYER PAID. CONFIDENTIAL 4515 Fleur Drive, Suite 300 Moines, Iowa 50321 Digitized forDes FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 515-287-6880 913 L o c u s t D e s M o in e s , Iow a 50309 515-243-8064 4 AG M O D EL.. . (Continued from page 1) the Agricultural Bankers Division, who is former chairman of the Iowa Bankers Association agricultural committee, explained the methodo logy of the professional study. To make this example easy to The PC Reporter (1099*) is a new lowcost way to meet 1RS requirements for “ Magnetic Media Filing” on 51/»" disks for forms 1098, and all 1099s. It’s faster and easier than paper! Cost: only $349 plus $4.50 shipping. Demo disk available—$11.50 incl. shipping. Write or phone: R.C. Remer, Pres. Milada, INC. PO Box 191 Johnston, IA 50131 (515) 278-9540 Requires IBM® or compatible 384k RAM minimum. Iowa orders add 4% sales tax. cdfoC dsx a n d c^ h iocL a te.*. Specializing in the Purchasing and Sale of Banks 405 Main 515-232-0814 Ames, Iowa 50010 Donald E. Holder, Principal “THE RIGHT FIT” B anking P lacem ent Specialist For Your Staff: □ Top Professional Bankers who are confidentially screened to find “The Right Fit” □ We recruit nationally through our over 2 0 0 independent affiliates as well as locally for our clients □ Contingency or Retainer Fee arrange ments □ Contact Sue Lundquist or Mel Hansen, CPC Banking Specialists understand, we have excluded all variable factors except the interest rates on the real estate loans and the carryover debt. Thus, for simplifica tion, we have included several as sumptions. The purchase of 240 acres of land at $1,646.00 per acre (the 1978 aver age price of Iowa farmland: Iowa State University). The land is added to a 280 acre operation. The new operation includes 400 acres of row crops; half corn, half beans; with 50 beef cows and 50 sows; farrow-tofinish operation. Crop yields, live stock production, sale prices and production expenses are locked in at the average for the 1978-85 period based on figures from the Iowa Crop and Livestock Reporting Service. The survey also allows for $10, 000/yr. depreciation expenses and $ 10,000 for replacement of machi nery and breeding livestock . Because this figure was approxi mately equal to the non-real estate principal paid each year, we have as sumed a constant $17,400 payment on the intermediate debt (which started at $60,000 for both the vari able mortgage and the fixed mort gage examples). This helps show the effects of variable interest payments more clearly. Both the variable and fixed ex amples show that 75% ($297,000) of the purchase price was financed under a 30 year amortization sche dule. Under alternative HI (Variable Mortgage) the real estate was fi nanced at an interest rate that fluc tuated over the time period to be equal to effective Omaha Federal Land Bank rates. Under alternative #2 (Fixed Mortgage) the model as sumes that the real estate was fi nanced with a 9% fixed rate for each year throughout the 30 year mort gage. I The payment under alternative #1 (Variable Mortgage) does not remain constant. Instead, it increased as the interest rate changed over the time period. As the payments^ became too large for the operation’s cash flow, the losses were refinanced each year for a term of one year. All of the raw data was fed into a farm financial planning computer* model produced by the University of Minnesota which is recognized by the U.S. Department of Agriculture and by the banking industry as a. reliable tool for analyzing farm fi nancial conditions. This hypothetical example, which focuses on interest rates, does not include such factors as actual com-, modity prices and yields each year, and depreciation of land and machi nery, because the focus of the com puter model is on the impact of in terest rates on the financial condi-j tion of a farm family. Even with the addition of these factors, ABA believes the effect on the final re sults would have been negligible. For additional information on thej methodology of the computer model, please contact Leslie Miller at 202/ 663-5100. □ * * * Legislation to create such a secon-^ dary market for long-term farm real estate is part of H.R. 3030 now being considered in the House. That bill, as reported here earlier, was a p -f proved by the House Ag Committee prior to the summer recess, then was taken up as soon as Congress recon vened. The bill primarily addresses a rescue plan for the Farm Credit S y s-£ tern, and authority to form the sec- SR. COMMERCIAL LENDER A major Colorado-based bank holding company is currently seeking a Sr. Com mercial Lender to manage business lending area of 105 MM bank in Colorado Springs. The qualified individual must have: • 7-10 years progressively responsible commercial lending experience • Experience in managing a commercial lending department and credit administration • BA degree in a banking-related field. Formal credit analysis train ing is preferred. Please submit your resume and salary requirements in strict confidence to: ■■■ Ells Personnel Systems 1129 Plymouth Building Minneapolis, MN 55402 jg g g g il ELLS 612-333-1131 N A T IO N W ID E A D VER TIS IN G SER VIC E IN C CONFIDENTIAL REPLY SERVICE CELEBRATING OUR 75th ANNIVERSARY BY SERVING OUR BANKING CLIENTS WELL! https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Dept. 2SCL921 1325 S. C olorado Blvd., Suite 503, Denver, C O 80222 Equal O p p o rtu n ity Em ployer NM-1 VICE PRESIDENT-Over six years lending experience, primarly with Ag. some consumer, Real Estate, and com^m e rc ia l loans. Very good documentation skills. In depth w experience in analyzing. “ H e’s very outgoing and active in the community. He is easy to talk to and makes friends easily,” quotes a reference. Degree in Business Adminis tration. You would hate to have him as your competition. ^ $30,000. Call 712-779-3567. NM-2 AG LENDING/VP— 4 years experience as vice presi dent, loan officer. Over 11 years total in lending. Knowl edgeable in all aspects of lending. Experience with FmHA ^ a n d SBA. Strongest assets, Ag lending and Real Estate. W BS in Ag Business. Solid Ag background, good opera tions. $30,000. Call 712-779-3567. NM-3 AG LOAN OFFICER— Correspondent banker looking to —step into Ag lending position. In-depth analysis and mar k e t i n g experience. 4 years with FLB and BS in Business Administration. Currently managing over 45 correspon dent bank relationships and responsible for new business development. Good experience. $30,000. Call 712-779^3 567. NM-4 LOAN OFFICER/CREDIT REVIEW-Over 11 years credit experience. Responsibilities have included reviewing, ana lyzing, and rating credits in excess of 50k, and for collec tion of problem loans. Excellent analysis and documenta t i o n skills. A reference stated, “ he knows the programs and responds well to the customers needs.” $35,000. Call 712-779-3567. NM-5 AVP; AG/C0MMERCIAL LOAN OFFICER-Comes from • good stock. Has well-rounded background in ag, commer cial, and consumer lending. Heavy involvement with FmHA. Detailed documentation and credit analysis. Look ing for growth potential in concurrence to self develop^ ment. $20,000. Call 712-779-3567. NM-6 VP/EVP— ISU graduate handling portfolio of 8-9MM, mainly Ag. Strong Ag background, thorough on cash flows, documentation and workouts. “ He’s a good leader, not afraid to w ork,” says a reference. Prefers Wisconsin. $32,000. Call 712-779-3567. NM 7 AVP; AG/C0MMERCIAL LOAN OFFICER-Extensively qualified in loan workouts, credit analysis, and inspections AG Credit lines from 10k-400k. Responsible for cash flows and micro computer operations. BS in Ag Business. $24,500. Call 712-779-3567. NM-8 EVP/SR. CREDIT OFFICER— Over 10 years manage ment experience. Skilled in credit analysis with in-depth knowledge of all phases of Agriculture. Active in communi ty events, excellent in communication skills and all areas of lending. Team leader within wholesale credit unit of 800MM bank. BA in Business and BS in Finance. $45,000. Call 712-779-3567. NM-9 MANAGER/L0AN OFFICER— Responsible for bringing troubled bank to profitability in a short period of time. Has management and operations experience as well as han dling a 5MM loan portfolio. Ag, Commercial, Consumer, and Installment. 11 years management and lending re sponsibilities. $30,000. Call 712-779-3567. NM 10 CREDIT REVIEW/INTERNAL AUDITOR— 51/2 years auditing experience in Banks and Savings and Loans. Re sponsible for conducting qualitative analysis of every phase of banking activities. Experience in determining condition and performance of financial institutions. Super vising experience and in-depth documentation skills. $30,000. Call 712-779-3567. NM-11 VP/EVP— Extensive work in litigation and collec tions. Branch Manager experience and head of Installment and Real Estate Departments. Complete operations knowl edge. Excellent lending record. $30,000. Call 712-7793567. We serve as the source to locate candidates who meet your qualifications and are interested in your bank, community, and salary range. We are available to assist, but allow and encourage your direct contact with our candidates. You make the choice and decision, without pressure. MARTY REW 712/779-3567 Hwy. 92 W., Box 140 Massena, IA 50853 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Our fee is paid by the employer and is based on a percentage of the first year’s compensation. All placements are guaranteed. A complete explanation of our services, fees, and guarantees will be sent at your request. ANNETTE FAHNING 515/394-5827 Hwy. 63 S., Box 307 New Hampton, IA 50659 NA-12 AG LOAN OFFICER— 4 years ag lending experience with B.S. degree in Animal Science. Enjoys working with cattle. A reference expounded, “ possess excellent com munication skills; has matured into excellent loan officer.” Prefers MN or IA locations. $25,000. Call 515-394-5827. NA-13 VICE PRESIDENT/CASHIER— Handled 8 million dollar loan portfolio. Has over 20 years in banking with opera tions and farm management experience. Will relocate in midwest. $35,000. Call 515-394-5827. NA-14 AG LOAN OFFICER— “ Can analyze a situation; investi gate and make a decision. Does a good job. Has complete knowledge of cash flows and knows all aspects of agricul ture,” said reference. Has 3 years experience with B.S. degree in Animal Science. Prefers midwest locations. $25,000. Call 515-394-5827. NA-15 VICE PRESIDENT— Almost 20 years in ag lending. Bank and PCA experience. Supervised 10MM loan port folio. Developed and negotiated workout plans. “ Has good people skills; good grasp of the elements needed for ag lending. He has the maturity and good judgm ent for overall credit knowledge,” related reference. Iowa State Degree. Will relocate in Midwest. $35,000. Call 515-3945827. NA-16 AG LENDER— 8 years experience with PCA & FmHA. “ Knows all facets of lending. He can make decisions...can say “ NO ” when needed. He has an outstanding attitude and relates well to people,” said reference. $30,000. Call 515-394-5827. NA-17 AG/C0MMERCIAL LENDER— B.S. Degree in Ag Busi ness from Iowa State. Has 7 years experience in ag lend ing with exposure to commercial lending. Worked with 10MM ag portfolio. Has micro-computer experience. For mer supervisor commented, “ Had good analytical ability, was a quick learner and a self-starter.” Prefers Iowa. $30,000. Call 515-394-5827. NA-18 SR. VICE PRESIDENT— Over 15 years in banking with experience in Trust & Farm Management departments. • Iowa State Graduate with additional credits towards Graduate School. “ Proved to be a great value to organiza tion with ability to manage trust department,” said refer ence. Available Immediately. $35,000. Call 515-394-5827. NA-19 CEO— Over 30 years banking experience. HAS SEEN IT ALL!!! Experience in all phases of lending, opera tions and investments. Prefers IA. $35,000 plus benefits. Call 515-394-5827. NA-20 VICE PRESIDENT— 16 years experience in banking # and all phases of lending. Also has investment and opera tions experience. Candidate has insurance licenses in per sonal lines. B.S. Degree in Bus. Admin. Attended Wl Graduate School of Banking. “ Banker with good integrity and very pleasant to work with,” said reference. Prefers IA. • $30,000 plus. Call 515 394 5827 NA-21 VICE PRESIDENT— Former Vo-Ag Instructor with 10 years bank experience. Exposure to bank operations and computers. Attended IBA Ag Credit School, Graduate £ School of Banking and many ag conferences. “ Has a long knowledgeable history of lending. Is an indepth lender... very articulate and very intelligent. Is an excellent book keeper with ability to manage a small bank,” reported re ference. $35,000. Call 515-394-5827. £ NA-22 EXEC. VICE PRESIDENT— Iowa State Agronom y De gree. Has had daily management of bank for about 20 years. “ Greatest assets are public relations, business development and community activities, plus a very strong knowledge of agricultural credits,” related reference. Will relocate. $40,000. Call 515-394-5827. POSITIONS AVAILABLE 1. AG LOAN OFFICER— 20MM Bank in NE Iowa seeking loan officer to service 11 MM ag loan portfolio. Insurance li censes helpful. 2-5 years experience required. Must be outgoing and friend ly. Prefer 4-year degree. Bank or FCS background. $22-$25,000. 2 COMMERCIAL LOAN OFFICER—Will supervise 5MM Commercial Loan De partment. 35MM Bank in North Central Iowa. Requires 4-year degree and 3-5 years commercial lending experience. i 712/779-3567 https://fraser.stlouisfed.org Hwy. 92 Bank W., Box 140, Massena, Iowa 50853 Federal Reserve of St. Louis Must be outgoing and be able to handle people. $30-$35,000. 3. CEO— Small Bank located in North ern Iowa seeking person with manage ment experience. Must be able to handle all bank functions, plus lending. Minimum of seven years experience required. $37-$40,000. 4 BRANCH MANAGER/L0AN OFFICER— Position requires good lending skills. # one duty is ag lending, however, will also be doing some consumer and commercial lending. 15MM Bank lo cated in W Illinois. County seat town of 3,500. Bank or FCS experience. $25$35,000. 5 COMMERCIAL LENDER— 20MM Bank in Minnesota Resort Area town of 18,000 seeking commercial lender with 5 years plus experience. Prefer business related degree. Advance ment potential can lead to #2 position in bank. $35-$40,000. ---------- -----— fjfy'£j v.y f->>",s*** aqri careers, inc. 515/394-5827 Hwy. 63 S., Box 307, New Hampton, Iowa 50659 IOWA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HA VE YOUR PREMIUMS SKYROCKETED? We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM! CALL OR WRITE IOWA BANKERS INSURANCE AND SERVICES, INC. 104 EAST LOCUST STREET DES MOINES, IOWA 50308 1-800-532-1423 or (515) 286-4344 K A N SA S B A N K ER S SU R ET Y CO M PA N Y P.O. BOX 1654 • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis TOPEKA, KANSAS 66601 (913) 234-2631 SOUTH DAKOTA BANKERS PROBLEMS WITH YOUR BANK’S BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? HAVE YOUR PREMIUMS SKYROCKETED? Are you FORCED to write one type of insurance with a company at a higher premium, just so they will write another type of policy for you? IF SO... PLEASE CONSIDER THIS We have been solving Bankers bonding problems for over 75 years . . . AND AT THE LOWEST POSSIBLE PREMIUM! CALL OR WRITE K A N SA S B A N K ER S SU R ET Y CO M PA N Y P.O. BOX 1654 TOPEKA, KANSAS 66601 (913) 234-2631 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis OWNED BY BANKERS SERVING BANKERS F irsT ier /Wore o f what it takes Correspondent Services to serve you well. ^ F irsT ier B anks Uncoln • Omaha FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC ondary market is Title III of H.R. 3030. • Since reconvening, Congress has gotten pressure to scrap the entire bill, as well as pressure from Rep. Dingle, chairman of the Commerce and Energy committee, to submit w the bill to his authority as well. He and the Secretary of Treasury want the secondary market feature killed. All banking trade groups have united in their effort to lobby Con• gress for passage of the secondary market. □ North Dakota News 0 The North Dakota Bankers Assow ciation will hold a special meeting in Bismarck on Tuesday, September 22 for all members to give a thor ough airing to preferences on the in t e r s t a t e banking issue. The NDBA legislative committee is to be guided by the outcome of the vote resulting from that meeting. consolidate 26 of its Minnesota banks into five new banks (see sepa rate story under Minneapolis). Colorado News The Independent Bankers of Colo rado is asking members to consider the framework for possible 1988 in terstate banking legislation. In his letter to the membership, IBOC President Charles B. M cKinstry said if such a bill is passed, “we should have something to say about what the legislation contains.” The IBOC has fought interstate legisla tion. The proposal being considered would impose strict limitations: All acquired Colorado banks would be required to make 85% of their loans within Colorado. Out-of-state buyers would be prohibited from merging or acquiring any Colorado bank or holding company that controls 15% of the deposits in Colorado, or would control 15% after such sale. This re moves most main Denver banks from outside purchase. A one-time fee to be paid to the Colorado Eco nomic Development Fund by each non-Colorado acquirer. A majority of directors of an acquired bank would have to reside in the market area of the acquired Colorado bank. FARGO: First Bank System, Inc., • has filed application with the Comp troller of the Currency to consoli date its five North Dakota banks into one new bank. The First Bank Bismarck, First Bank Fargo, First • Bank Grand Forks, First Bank Jamestown and First Bank Minot will form one bank with the name of DENVER: William J . Rundorff has First Bank of North Dakota, head been elected vice president and quartered in Fargo. Each bank will counsel of United Banks of Colo ® continue to use its geographic iden rado, Inc., in addition to the position tifier in its name. of secretary which he has held since FB S also has filed application to January, 1986. BANKING 'Professional assistance in hiring and career advancement" c a r eers quality service by experienced professionals 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 Stop by our booth at #716 at the IB A Convention https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Jean Eden Sandi Gamer 515 - 276-1151 515 - 832-1258 Tues / Wed / Fri Confidential. Fees Paid by Employer. COL. GORDON E. TAYLOR Box 949 - Mason City, la. 50401 515/423-5242 Professional Auctioneer Real Estate Broker and Appraiser W tk § B f rJ H ill 6 P O S IT IO N A V A IL A B L E SENIOR LENDER for $22MM bank located near a resort area. Will be responsible for overseeing the lending func tion. Ag background will be helpful. Send resume to File No. WKE c/o Northwestern Banker. (PA) CONSUMER LOAN OFFICER/AQ—2-3 yrs. consumer flnance exp., ag background. Will do cons, lending/llght comm./cash flows. College degree. Western Neb. Write Adams Bank & Trust, Box 720, Ogallala, NE 69153. Attn.: Jim Prange. (PA) COMMERCIAL LENDER to supervise commercial depart ment in Mason City bank. Must have 3-5 years comm’l exp. with some ag background. Contact Jim Niemants @ (515) 423-2457. (PA) EVP—$50MM Iowa bank in very nice town of 8,000 needs loan administrator to take charge of $20MM commercial loan portfolio. Require 7-10 yrs current bank exp., strong commercial and ag knowledge, documentation and mar keting skills. Salary plus bonus. Send resume to File No. WKL c/o Northwestern Banker. (PA) CREDIT ANALYST—Formal credit training & 2 + yrs. exp. Opportunity to manage the analysis function for an ag gressive bank in eastern Nebraska. Send resume to File No. WKM c/o Northwestern Banker. (PA) POSITIONS AVAILABLE PRESIDENT, $125mm outstate bank. Metro or suburban bank background. Strong business de velopment skills & civic leadership. Proven track record as President...............................$70-75,000. PRESIDENT, $250mm + outstate bank. Strong leadership qualities. Good public speaker. Good long range planner................................ $55-65,000. PRESIDENT, $500mm regional bank. Strong leader, delegator and manager of executive staff. Good long range analytical skills.........$75-80,000. EVP, Mid-size holding company. Holding com pany or regional supervisory experience. Solid planning capabilities, strong credit background. .............................................................$70-75,000. SVP, Head of Lending, $300mm bank. Big bank background. Proven supervisory track record. .................................................................. $55,000. VICE PRESIDENT, strong commercial and ag-related background. Experience managing other lenders.................................................. $40-47,000. CASHIER, $20mm + bank, 8-18 years experience. Small town with good schools, good hospital, locally owned.............................................$25,000. FACILITY MANAGER, consumer, real estate, small commercial background. Good location. Good benefits, self-starter.................... $20-25,000. DON W. SCHOOLER 2508 East Meadow Springfield, Missouri 65804 (417) 882-2265 POSITIONS AVAILABLE SR. COMMERCIAL Outstanding position offers growth, challenge and leader ship role in large bank. This strong financial institution seeks 6-7 year lender who has supervised comm’l lenders and worked with average portfolio of $20M + . Will oversee 3 well-trained exp. lenders all of whom have new business development skills. $50K. METRO LENDER Do you want a chance at building a comm’l portfolio your way? Well-managed commercial dept, seeks proven lender who has 2 + yrs handling 150K+ loans. Will be given freedom to run and develop business in marketplace as they see fit. If you can get the quality commitments this dept, will back you 110% and give you the rewards you’re looking for. $36K. AG LENDER/FARM MGR. Looking for a bank that still has confidence in ag sector? Tremendous oppty for quality ag lender who has farm mgt knowledge and experience. Desire 3 + yr lender or farm manager who is looking to get ahead. $28K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS ROBERT HALF OF IOWA. MC. 317 6th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID FOR SALE NCR 775 SINGLE POCKET PROOF MACHINE. Good sec ond unit. 308-254-5536, ext. 16. American National Bank, Sidney, NE. (FS) LEASE A DATALINE for $19.50 per month. Provides a bank lobby TV monitor giving stock/commodity prices, interest rates, Fed Funds, etc. Call Elmer Eggers. (515) 483-2213. ___________________________________________ (FS) 1981 S 558 SINGLE POCKET PROOF ENCODER & a re worked S 558 Single Pocket Proof encoder. Good working order, under maintenance agreements. $1,250.00 your choice. Plainview National Bank 402-582-4941. (FS) ATTENTION AGENTS: LET’S GROW TOGETHER! Do you currently write more than $1 million an nually of Credit Life and Accident and Health In surance through financial institutions? Can you move your million-dollar business to another insurer? We’re Balboa Life and Casualty, an A + /rated carrier writing more than $100 million nationwide, with a complete line of highly-successful creditrelated coverages. We’re looking for reputable and financiallystable agents to represent us in Hawaii, Montana, or Wyoming. If you qualify, we’re ready to offer you an exclu sive company relationship in these states. We can grow and prosper together. Let’s talk right away. Call or write: Dave Bridges, Senior Vice President Balboa Life and Casualty 3349 Mlchelson Drive Irvine, CA 92715-1606 (714) 553-0700 (800) 854-6115 outside California BANKING POSITIONS AVAILABLE CONSUMER LENDER—Excellent Iowa opportunity. A ......................................................................... To $25,000. COMMERCIAL MORTGAGE—Opportunity for an aggres sive, motivated lender with 2-3 yrs. exp. to join a profitable bank group......................................................... To $26,000. JUNIOR AG LENDER with strong ag credit training and lending skills needed for progressive $90mm Iowa bank. ........................................................................... To $2 3,000# REAL ESTATE LENDER—Illinois bank needs an experi enced banker with knowledge of secondary marketing. ........................................................................... To $25,000 Financial Careers, Inc. Two Ruan Center/Sulte 1000, Des Moines, IA 50309 515/245-3786 Employer pays fee. — W Please contact Lorraine Lear or Malcolm Freeland con cerning these and other Midwest banking opportunities. POSITIONS AVAILABLE • LOAN ADMINISTRATION Have you lost state of your career path? Bring your career back into focus and join this highly respected, highly re garded loan advisory team of a dynamic loan administra tion banking group. Review procedures including loan a documentation, rating, and trend analysis in a bank net- ^ work affiliate. Add this dimension to your 3 + years com’l lending exp., degree and formal credit training and en hance your future. Leads to mid-market leading and pos sibly Sr. Mgmt. To$38K. Job#NW2271. CASHIER Are you stuck? Here’s your out. Reach out for this rare and 0 exciting challenge as the #3 person In a profitable bank. This dream opportunity requires your ability to motivate, train and manage others. You will oversee acctg. and all operational functions with this top-rated, growing and well managed independent bank, just North of the Twin Cities. Put your 4 + years operations exp. and mgmt. ability to its best use and grab for this vital position. ^ To$30K. Job #NW2272. W AG LENDER ¡AG LOAN OFFICER. Does your ag portfolio have ¡you in a rut? This opportunity offers development! If you enjoy calling on prospects and have at least 2 yrs ag credit, a well-managed 8 bank holding com pany has a position to improve your career! | .....................To $30,000.........................Call Bruce. SAVP. COMMERCIAL LOAN OFFICER. Credit skills, business development and 6 figure loan experience I for $170 + mm bank. Excellent benefits! ...................... To $32,000.......................... Call Marj. ¡TRUST PRESIDENT. If you want to call the shots ¡and enjoy business development through high visibility, call now! Need varied trust experience and someone to provide leadership role! | .................... To $50,000..................................... CallBruce. ¡BRANCH MANAGER. Major regional holding com pany wants you for their metro office if you can ¡¡manage this consumer oriented branch. Benefits! .....................To$50,000.....................................CallBruce. I SR. VICE-PRESIDENT. Management spot! Ready to ¡move from that department head or branch manager ¡spot? This bank group needs commercial and/or I real-estate expertise to administer their $15mm loan ¡portfolio. Will manage staff, bank committees! [ t .....................To $55,000...........................Call Bruce, i ¡COMMERCIAL LOAN OFFICER Loan experience, excellent credit analysis skills and business devel- I opment for $240 + mm multi holding company bank! ’■ I ...................... To $38,000..........................Call Marj. f V.P. TO DEPARTMENT HEAD. Strong marketing, ; ¡managerial and investment experience for progressive, growth oriented $170mm+ bank located in I ¡metro area. Brokerage business person will be con- I sideredtoo............... To$53,000................ Call Marj. J SENIOR TRUST OFFICER. General trust knowledge, “ management skills, investments and business dei velopment. Metro area. .. .To $50,000. ...C a ll Marj. Partial Listing. Positions available throughout l Midwest. Call or send resume in confidence. iPersonnel S earch 1126 So. 72nd St. Omaha, Ne. 68124 Have you been looking for a chance to move ahead? Here’s a highly visible, rare oppty. to put your 2+ years of ag lending exp. to its best use. Expand your career with this well managed and profitable independent bank in Southern MN. Prefer degree. To$28K. Job#NW2273. £ FOR MORE INFORMATION CONTACT PAUL GENTZKOW OR JAN PETERS ROBERT HfllLF OF MMNESOTA, MC. 3636 IDS Center Minneapolis, MN 55402 E (612) 339-9001 ALL FEES COMPANY PAID POSITIONS AVAILABLE COMML LOAN ■ $50MM suburban bank with excellent growth and earnings history. Handle majority of commer cial credits. Report directly to President. $38K CEO ■suburban de novo bank. Experience as CEO or COO required. Strong commercial loan and business develop ment skills desired. Open ^ LOAN REVIEW • large urban bank affiliated with major midwestern holding company. Degree and 2-3 yrs. loan review/workout experience desired. $30K TRUST OFFICER - medium size community bank with growing trust dept. JD preferred but not mandatory. $27K COMML LOAN - $100MM community bank. Supervise com- a mercial lending function. Future advancement possible. ™ $45K Additional positions available in midwestern states for experienced bankers. TOM HAGAN & ASSOCIATES 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 A “Serving the Banking Industry Since 1970” Vol. 16 No. 23 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $24.00 per year. Second class postage paid at a Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden • St., #201, Des Moines, Iowa 50309. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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