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• Vol. 13 No. 23 Des Moines, Iowa September 24,1984 New Farm Program Offers Hope for Debt Management 0 0 f 0 £ # • # 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 A Firslier Company https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Member, F.D.I.C. Strategy Your opponents in the financial field are getting more competitive every day. To stay ahead in the game requires a strategic plan that includes strong correspondent banking services and teamwork. American Trust has built a professional lineup and an impressive string of services. Call Bernie Miller today for the rundown. 319/582-1841. AmcricanWTrust &Savings Danl^ The Danl^of O pportunity 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- Town Clock Plaza Dubuque, iowa 52001 Member FDIC and FRS 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 A National Bank 151 Member F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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. 0 0 0 # # • • 0 0 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. 0 # # • • 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis £ % ^ ^ a a 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! 5) 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. is ^ t i V ice Presklent an d M anager MEMBER F.D .I.C. Minnesota News it Dennis Nahnsen SECURITY NATIONAL BANK Bill Sprenger Frampton Rowland John Messina 234-2625 234-2485 234-2486 Commerce Bank rf Kansascity1 https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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