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Vol. 13 No. 23

Des Moines, Iowa

September 24,1984

New Farm Program Offers Hope for Debt Management
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leaders at a 12:30 p.m. announce­
ment ceremony in the White House
Tuesday noon, September 18.
Bankers present for the meeting
RESIDENT Reagan announced
a farm assistance program on were ABA President C. Robert
Tuesday, September 18 that is de­ Brenton, president of Brenton
signed to restructure debt of failing Banks, Inc., Des Moines, whose 16
farmers through partial interest for­ banks are primarily ag-oriented;
giveness and partial writedown of Alan R. Tubbs, vice-chairman ABA
their debt. These are the four essen- Ag Bankers Division and president,
First Central State Bank, DeWitt,
tial elements of the program:
la.;
1.
FmHA will agree to “ put on
theIBAA President A.J. “ Jack”
shelf” 25% of the farm operator’s King, president, Valley Bank, KalisFmHA direct loan for a period of up pell, Mont., and Thomas H. Olson,
to five years at no interest. That in- president, Lisco State Bank, Lisco,
terest will be forgiven and will not Nebr. Mr. Tubbs and Mr. Olson are
be recoverable at any future date by members of the banker advisory
FmHA. Estimated cost in lost inter­ committee to Secretary of Agricul­
ture John Block.
est to FmHA—$800 million.
Earlier, Vice President George
2.
A loan guaranty pool by FmHA
of up to $650 million for banks and Bush met at 10:30 a.m that morning
other private lenders—provided the with eight bankers from Iowa,
lender agrees to write-off 10% or Nebraska, Missouri and Kansas and
more of the debt owed the institu­ one Congressman from each state.
tion. Estimated cost to banks un- Mr. Olson and A.C. “ Skip” Hove,
Jr., president of Nebraska Bankers
known.
Association and chairman, Minden
3.
Formation of county commit­
tees to assist lenders and farmers in Exchange Bank, Minden, repre­
debt restructuring plans for affected sented Nebraska banks. Edward L.
farmers, with the aim of returning Tubbs, chairman of Maquoketa
State Bank and chairman of the ex­
the operators to profitability.
ecutive
4.
FmHA would be authorized
to committee at First Central
contract with lenders to handle and State Bank, DeWitt, and Thomas H.
process necessary paperwork, utiliz­ Huston, Iowa superintendent of
banking and president of Columbus
ing its Approved Lender Program.
Details of the President’s emer­ Junction State Bank, represented
gency plan were outlined to a select Iowa banks. (Mr. Tubbs is the father
list of bankers and ag industry of Alan Tubbs.) Vice President
By BEN HALLER, JR.
Publisher

P

George Bush discussed in some de­
tail the agricultural situation as
viewed by these 12 midwesterners
prior to the President’s conference.
Later in the afternoon after the
President’s White House announce­
ment, Secretary Block and Deputy
Secretary Frank Naylor gave a spe­
cial briefing of the new program to
Iowa bankers by way of a speciallyarranged video teleconference via
satellite to the ballroom of the Mar­
riott Hotel in Des Moines as the
closing session at 4:00 p.m. for the
Iowa Bankers Association’s 98th
annual convention.
Secretary Block outlined the pro­
gram announced by the President,
and Mr. Naylor reviewed details for
the packed ballroom of bankers,
many of whom have an extensive ag
loan portfolio.
Mr. Naylor and other FmHA offi­
cials said there is no allocation of the
$650 million among the states but
stated the definite aim of the pro­
gram is to target areas of immediate
need—central midwestern states.
Although the Coordinated Financial
Statement (26-page form) was a con­
cern of some bankers, one FmHA of­
ficial said that form would not neces­
sarily have to be used but that a pru­
dent lender could use as many of pre­
sent bank forms as possible. Loans
NEW FARM PROGRAM . . .
(Turn to page 4, please)

Call on the “Experienced Professionals”
Ready to meet your correspondent needs.
FIRST NATIONAL LINCOLN
13th & M Streets, Lincoln, Nebraska 68501
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Variable Rate Lending
Teleconf. Set for Oct. 4
The American Bankers Associa­
tion together with the Minnesota,
Iowa, Colorado and Illinois bankers
associations will present a live video
teleconference on Variable Rate
Lending October 4 at selected sites
in each state. The teleconference will
begin at 10:00 a.m. and conclude by
3:00 p.m.
Robert P. Chamness, director,
McGlinchey, Stafford, Mintz, Cellini
and Lang, Washington D.C., and co­
author of A B A ’s new book Variable
Rate Lending: A Comprehensive
Sourcebook for Design, Implementa-

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tion, and Marketing, will serve as
moderator for panel discussion.
Panelists are: Jonathon Lee Fiechter, Office of the Comptroller of the
Currency, Washington D.C.; Robert
L. Lowe, The Crocker Bank, San
Francisco; James P. Madigan, Mer­
chants National Bank and Trust Co.
of Indianapolis; Kenneth W. Patton,
Mercer Capital Management, Inc.,
Memphis, and D. Edwin Schmelzer,
McGlinchey, Stafford, Mintz, Cel­
lini, and Lang, Washington D.C.
Locations for the teleconference
include: Holiday Inn Downtown,
Minneapolis, Minn.; Des Moines
Area Community College, Ankeny,
Iowa; The Regency, Denver, Colo.,
and Marriott Hotel O’Hare, Chica­
go, Mount Vernon Ramada Inn and
Springfield Hilton, 111. For more in­
formation and registration, contact
the respective state associations.

Iowa News

ASK
D IC K RETZ
to make MNB
work for you.
Toll free
1- 800- 332-5991

Merchants
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A BANKS OF IOWA BANK

William Logan, president, The
State Central Bank, Keokuk, was
advanced to the presidency of the
Iowa Bankers Association during
the 98th annual convention at the
Marriott Hotel in Des Moines last
week. He succeeds A1 Maser, presi­
dent, First National Bank of LeMars, who served in that post the
past year and presided at the con­
vention sessions. Installed as presi­
dent-elect was J. Bruce Meriwether,
president of the First National Bank
of Dubuque, in the post Mr. Logan
held previously. Richard Randall,
president, Dunlap Savings Bank,
Dunlap, who was elected to a twoyear term as treasurer at last year’s
convention, continues in that posi­
tion. Complete details and pictures
from the Iowa convention will be in
the October N orthwestern B anker .

tives” has been prepared by com­
mercial banks, PCAs, FmHA and
Federal Land Banks and will be held
Wednesday, October 3 at 14 sites
throughout Iowa.
Dr. Bob Jolly, professor, depart­
ment of economics, Iowa State Uni­
versity, Ames, has prepared a case
study for participants to discuss
during the afternoon with alterna­
tives being presented by each as­
signed table to facilitate further dis­
cussion.
Fee for the teleconference is $20
and includes lunch. Registration will
begin at 7:30 with the teleconference
getting underway at 8:30 and finish­
ing up around 4:30 p.m. For more information contact Lee Schenck,
Iowa Bankers Association.
The Iowa Bankers Association
has extended an invitation to all
bankers to attend a special presentation at Iowa State University,
Ames, on October 10 to hear Larry
Biehl and discuss “ Delivery of Fi­
nancial Planning Services: It’s
Future in a Competitive Market.’’
The hour-long presentation will be
followed by dinner and a public ses­
sion. For more information contact
Judi Carber at the IBA office in Des
Moines.
KNOXVILLE: Ronald D. Larson
has been elected president and trust
officer of the Community National
Bank & Trust Company. He sueceeds Dean Hicks, whose future
plans have not yet been announced.
Mr. Larson previously was senior
vice president and a director of the
Brenton National Bank of Perry,
where he has been for six years.

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Nebraska News

The Nebraska Bankers Association is pleased to announce an excit­
ing all-new skills enhancement work­
shop aimed at improving the exper­
tise and effectiveness of personnel:
“ Career Challenge ‘84 — Teller/Staff
Conference.
This workshop, which will begin
with registration at 8:30 a.m. and
run through to 4:00 p.m., is worth .5
CEUs to seminar participants.
Topics for this one-day seminar in­
clude: Bank swindles, selling, man­
aging challenging customers and
check kiting.
Dates and locations of the workshop are as follows:
Oct. 16 — Holiday Inn, North Platte,
Oct. 17 — Ramada Inn, Kearney,
* * *
Oct. 18 — The Comhusker Hotel &
Convention Center, Lincoln, and
A joint lenders teleconference en­
titled, “ A g Loan Workout Alterna­ Oct. 20 — Villa Inn, Norfolk.

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Supplement to Northwestern Banker Newsletter 9-24-84

You can trust
United Missouri Bank
as a bailee
for public funds.
U n ite d Missouri Bank is privileged to serve
as bailee for public funds for banks in Iowa as
a result of the recent changes in regulations.
We have over 75 years of experience as a
bailee and have established a sound reputation
for handling investments.

United Missouri makes it simple with a
courteous staff and accurate reporting.
Call toll free 1-800-821-2171 and ask for
Jeff Goble or Dave Dickens.
Or, fill in and mail the coupon today.

Investment Banking Division

UNITED MISSOURI BANK
Member FDIC

10th and Grand • P.O. Box 226 • Kansas City, M issouri 64141


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ENDERS: Mike Renken has been
named president of First State Bank
here. He succeeds Bill Pribbeno,
who has served as the bank’s presi­
dent and chairman for the last six
years and continues as chairman.
Mr. Renken began his banking career with First National Bank and
Trust of Lincoln in 1973 and most
recently was assistant vice presi­
dent of commercial lending.
VERDIGRE: The Bank of Verdigre
& Trust Co. was declared insolvent
by Director of Banking Roger Bever­
age September 19 and was turned
over to the FDIC for liquidation.
The FDIC immediately announced
that The National Bank of Neligh
(33 miles south) had agreed to pur­
chase selected assets and assume all
the approximately $13 million in
deposits so that all depositors were
fully protected. It will be operated
as The National Bank of Neligh Ver­
digre Branch. Kirk C. Cisler, vice
president of Neligh, has been named
manager of the new branch.

We’re Security for Yog
A t Security National Bank, w e’re people you can
count on to handle all o f your Correspondent
Banking needs.
So, start corresponding w ith us.
W e’re Security for you!
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IN SIOUX CITY, IOWA.

C orrespondent B anking S ervices

712- 277-6768
St. Paul
• Nov. 8 - Sheraton Inn Northwest,
Brooklyn Park
* * *

tant manager of the farm depart­
ment.

MINNEAPOLIS: F&M Marquette
National Bank has announced the
hiring of Donald G. Pederson as vice
president, private banking. Mr. Ped­
erson previously was senior vice
president, financial institutions
department, for Norwest Bank of
Minneapolis.

THERMOPOLIS: Robert D. Morri­
son has been elected president, chief
executive officer and a director of
the First National Bank, according
to Dennis Jones, chairman, and Paul
Howes, vice chairman. Prior to join­
ing the Thermopolis bank, Mr. Mor­
rison held the same position at the
First State Bank of Lyman.

South Dakota News

The Minnesota Bankers Associa­
tion is presenting seven Business
Development Workshops through­
out the state between October 2 and
November 8. Don Jones, president
of Financial Education and Develop­
ment, a training firm for the finan­
cial industry, is instructor for the
workshops that will begin with reg­
istration at 1:00 p.m. and the work­
shop itself will begin at 1:30.
Topics to be covered in these
workshops include team, sales plan­
ning, presentations, and pursuing
new customers and services.
The MBA Business Development
Workshops will be held at the fol­
lowing locations:
• Oct. 2 - Holiday Inn, Bemidji
• Oct. 10 - Holiday Inn Downtown,
Mankato
• Oct. 18 - Holiday Inn, Alexandria
• Oct. 24 - Best Western, Marshall
• Oct. 30 - Hilton Inn, Minneapolis
• Nov. 6 - Radisson Plaza Hotel,

ARMOUR: Morris Winter, chair­
man of First State Bank of Armour
and its branch office in Delmont, has
announced the sale of the bank to
Lauren Lewis of Sioux Falls and his
two sons, Allen Lewis of Yankton
and Paul Lewis of Palm Desert,
Calif. Approval of the transaction is
expected from State Banking Com­
mission and the FDIC by November
1. No changes in staff or operation is
expected. LeRoy Hofer, COO, will
continue in that capacity and Gerry
Wenzel, assistant vice president,
will serve as managing officer at
Delmont. Mr. Winter, along with R.
Wayne Hamilton, president, and
Norbert Wenzel, director, plan to re­
tire January 1, 1985.
HURON: Larry Mattke has been
promoted to vice president of Farm­
ers & Merchants Bank, according to
Bruce L. Odson, president. Mr. Mat­
tke joined Farmers & Merchants in
1967 and had been serving as assis-

Wyoming News

Montana News
The Montana Bankers Association/AIB Education Committee is
sponsoring a one-day program en­
titled, “ Dealing with Bankruptcy: A
Banker’s Guide 1984,” to be held on
two different dates in October.
This comprehensive program will
provide you with an opportunity to
examine recent developments in
areas such as exempt property, dis­
charge, preferences, stays, and busi­
ness reorganization. David G. Eps­
tein, Esq. and professor of law at the
University of Texas Schol of Law,
will analyze the effect of these
changes on common banking tran­
sactions. The seminar focuses on
avoiding as well as resolving prob­
lems.
The seminar will begin with regis­
tration at 8:30 a.m. and run from
9:00-4:30 on Wednesday, October 10
at Heritage Inn, Great Falls, and
Thursday, October 11 at Ramada
Inn, Billings.

SPRENGER,
ROWLAND
AND Getting
MESSINA
it done for you.

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MEMBER F.D .I.C.

Minnesota News

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Dennis Nahnsen

SECURITY NATIONAL BANK

Bill Sprenger

Frampton Rowland

John Messina

234-2625

234-2485

234-2486

Commerce Bank rf Kansascity1


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Federal Reserve Bank of St. Louis

MEMBER FDIC

Telephone (816) 234-2000

"

NEW FARM PROGRAM . . .
(Continued from page 1)
eligible for the program need not be
classified as such by a regulator but
can be ones that fail to meet the
usual test for credit used by the
lending institution.
Numerous questions were still un­
answered late last week, awaiting is­
suance of regulations by FmHA and
USDA.
Interest forgiven by FmHA and
the 10% or more of the loan written
down by the bank are not recover­
able.
Mr. Olson and Mr. Tubbs said
banks would have to weigh other al­
ternatives of loan recovery against
the new program in an effort to help
customers and their own banks work
out of the difficulty being experi­
enced with an unusually high vol­
ume of non-performing ag loans at
this time.
□

Ag B an kin g P o sitio n s
Let us help you. Call the ag lending personnel
specialists without cost or obligation. Confidential.
Employers pay us to hire the best.

Financial Careers
CEO for $60 million bank in midwest city of 35,000. Experi­
ence in commercial lending and administration essential
..................................... ................................. Salary open.
CEO for Nebraska community bank. Excellent opportunity
......................................................................Salary open.
Sr. Ag Lender for large Wisconsin bank. Must have experi­
ence in major ag credits and ag degree . Salary to $45,000.
Sr. Ag Lender for large Minnesota bank. Must be experi­
enced in handling large ag cre d its....... Salary to $45,000.
Sr. Ag Lender for major Illinois bank. Must be experienced
in working with large ag business customers and larger ag
c re d its .................................................. Salary to $49,000.
Trust Officer to handle trust and estates and make up tax
reports. Investment experience and law degree not neces­
sary ........................................................Salary to $35,000.

3QÍIC A R E E R S , IN C
J

AG BANKING SPECIALISTS

Commercial Lender with experience in handling larger
credits. Texas location. Excellent opportunity.................
............................................................... Salary to $50,000.
Commercial Lender for major Oklahoma institution. Must
have experience in large credit lines, cash flow, etc..........
............................................................... Salary to $50,000.
Number Two man for $30 million Illinois community bank
located on major duck f lyway .............Salary to $38,000.
Number two for major Iowa bank. Must have proven com­
mercial loan record......................................... Salary open.
Number Two person for larger northern Iowa bank. Must
have both commercial and ag lending experience. Former
examiner background a p lu s ..................Salary to $42,000.
CEO for smaller eastern Iowa community bank. Salary open.
Installment person with a year or so experience wanted by
community bank in eastern Iowa for compliance/collections and lend ing.................................. Salary to $18,000.
EDP Auditor for billion dollar bank. Wisconsin location . . .
............................................................... Salary to $35,000.
CEO for $20 million central Iowa bank...........Salary open.
Commercial Lender for major Illinois holding company
bank. Must have experience with large credit lines...........
.......................................................................Salary open.
We have many other opportunities. Call or write Malcolm
Freeland or Cy Kirk at Freeland Financial Service, Inc.,
1010 Equitable Building, Des Moines, Iowa 50309. Phone
515/282-6462. Employer pays reasonable fee.

BANKING OPPORTUNITIES

D O N ® C H O O L E R in
AND- O J

V) ASSOCIATES

"Successful Banking is Quality Personnel"

If you would like to be informed of positions as they
become available and if you are interested in chang­
ing your present position, send your resume or
phone Don Schooler, 417-882-2265, 2508 East
Meadow, Springfield, Missouri 65804. Information
on you will be kept confidential until you are inter­
ested in a specific position.
Eighteen years of banking serving as President of
rural and metropolitan banks enables me to match
you, technically and personally, with the right bank­
ing environment.

POSITIONS CURRENTLY AVAILABLE
Missouri, Iowa Oklahoma, Kansas, Arkansas,
Illinois, and Nebraska

BRANCH MANAGER - Central Iowa
$33K + Bonus
Need commercial & installment + management ex­
perience.
TRUST OFFICERS - Central and N.E. Kansas $40 - 45K
Need 4 years or more, JD preferred.
CEO - South Central Nebraska
$40 - 50K
Need 7 years or more - management + all lending
areas.
Call or send resumes to:
Richard Beam, C.P.C. or Dorothy Minister, C.P.C.
GUMBERT EXECUTIVE EXCHANGE, INC.
11246 Davenport Street
Omaha, NE 68154
402/330-3260

POSITIONS AVAILABLE

PRESIDENT, $35mm bank, population 6,000 .......
..............................................................to $50,000

PRESIDENT - $25MM rural bank in small community close
to southern Missouri lake area. Superior agri-loan skills re­
quired........................................................................... $40K
COMMERCIAL LOAN - $50MM suburban bank located in
major midwestern metro area. Assist senior loan officer
with commercial portfolio............................................$32K
PRESIDENT - $30MM community bank within fifty miles of
large city. Requires commercial and ag loan experience...
....................................................................................$45 K

COMMERCIAL, SENIOR VICE PRESIDENT,
$140mm bank, 95,000 pop............................. OPEN

AGRI-LOAN • $25MM community bank. Need ag loan
background with some exposure to instal. credits... .$25K

ALL AROUND lender, $30mm bank, 12,000 popula­
tion .............................................................. OPEN

PRESIDENT • $35MM community bank. Majority of port­
folio in commercial and consumer credits. Prefer CEO ex­
perience....................................................................... $46K

OPERATIONS, $65mm bank, 15 min. from Metro­
politan a re a ..............................................$40,000
AG LENDER, #2 man in bank of $35mm, 5,000 pop.
.................................................................$30,000’s
SECURITIES, VAULT, SAFEKEEPING . $30,000’s

EXECUTIVE VICE PRESIDENT, $125mm, popula­
tion 160,000+ + ................................... $50,000’s
EXECUTIVE VICE PRESIDENT, $15mm, metropoli­
tan are a ..................................................... $35,000
COMMERCIAL LENDER, $65mm bank, 15,000
population ..............................................$30,000’s
COMMERCIAL LENDERS (Large Texas bank). . . .
.....................................................................OPEN

Additional career opportunities available for experienced
bankers.

TOM HAGAN & ASSOCIATES
2024 Swift - Box 12346
North Kansas City, MO 64116
816/474-6874
Serving the Banking Industry Since 1970

Voi. 13 No. 23 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fif­
teenth Street, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 per copy, $18.00 per year. Second class postage paid at Des
Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts, mail items to above address.

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