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Vol. 11 No. 23________________________ Des Moines, Iowa Bankers Consider Garn Am endm ents AN KERS nationwide are wait A B A President Lew Jenkins ad ing to see what happens with dressed the Iowa Bankers Associa the redesigned Senate financial bill tion annual convention a day earlier S. 2879, titled The 1982 Depository than scheduled last week so he could Institutions Amendments (formerly fly to the nation’s capital where he S. 1720), following the meeting late was to testify Tuesday before the last week of the A B A ’s Banking House Banking Committee on parts Leadership Conference. of the Senate bill. The more than 500 bankers tak Sen. Garn and his committee of ing part in that meeting were to con sider “ peace offering” amendments forwarded to A B A a couple of weeks ago by Sen. Banking Committee Jake Garn (R., Utah). The bill or iginally gave the store to thrifts and cut the throats of commercial banks by cancelling out any of the pre viously promised authorities that had been discussed. The Leadership Conference was to establish a con sensus for the guidance of A B A ex ecutive leaders in their dealings with Congress. Sen. Garn and Sen. Donald Riegle (D., Mich.), ranking minority mem fered to support amendments that ber of Sen. Garn’s committee, were would include (1) instructions to invited to address that conference, DIDC to create in 60 days a dereg along with Fed Chairman Paul ulated transaction account with no Volcker and Sen. Finance Commit reserve requirements so depository tee Chairman Robert Dole (R., institutions can compete equitably Kan.). with money market mutual funds; The states of Florida, Illinois and (2) instructions to DIDC to elim Tennessee were tied in this time to inate the interest rate differential by the Washington, D.C., conference by January 1, 1984, and (3) Congres satellite for remote TV hookup. sional extension until March 31, B September 27,1982 1984 of the federal override of state usury limits on business and ag loans. The committee previously dropped and continues to opppose preemption of state usury ceilings on consumer credit, and granting new powers to banks to have author ity to offer mutual funds and under write revenue bonds. Meanwhile, the DIDC, which met September 17, a week earlier than the Leadership Conference, voted unanimously to reject requests from several states for exemption from its ban on competitive instruments for banks to go up against MMMFs, in view of the pending legislation. Special attention was given to the South Dakota officials who had traveled to Washington to present their information to the committee. They could have saved their con siderable expense in making the trip. When South Dakota’s attorney general stood up at the meeting to challenge the committee, he was bluntly instructed to shut up and sit down because the DIDC has no sta tutory obligation to let outside per sons address that body. So much for democracy in action in Washington, D.C.! The A B A and state association officials are disseminating the con sensus position achieved at the Leadership Conference to all their constituents nationwide this week, Don't gam ble when choosing o correspondent bonk. Com e to the professionals. For ony correspondent bonking need . . . overline assistance, data processing services, investment counseling . . . just give us a call. W e're the professionals w h o put the response in correspondent banking. u c UNITED CENTRAL BANK OF DES MOINES, N.A. • MEMBER FDIC • TOLL FREE NUMBER (800) 362-1615 AFFILIATED W ITH UNITED CENTRAL BANCSHARES, INC. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 ■ Cyrus D. Kirk, Vice President 2 10:00 “ In tern a i R e s e a rch —The First Step” —Laird Landon, associate professor, Univer sity of Houston, Tex. P.M. 12:00 Conference Luncheon. 1:30 “ The 10 Golden Rules of A d vertising” —Murray Raphel, Murray Raphel Advertising, Atlanta City, N.J. 4:30 “ Idea Fair.” An Affiliate of Northwest Bancorporation Banco« 6:30 Area bankers reception/dinCall (515) 245-3131 or toll-free (800) 362-2514 ner. Neil Milner, executive vice presi A.M. Thursday, October 7 dent. 8:00 Continental Breakfast. A full convention report and pic 8:30 “ Integrating the Components tures will be featured in the October o f Y our M arketing P ro issue of the N orthwestern B anker grams.” Magazine. 10:00 Discussion Groups. 11:00 “ A ttitu d e s T rig g er S u c DES MOINES: J. Locke Macomber, cess” —Max Peterson, Con president of Valley National Bank, sultant to Business, Dayton, has announced the election of Ken Oh. neth W. Dykema as vice president, 12:00 Adjournment. commercial lending. Mr. Dykema * * * has been with the bank since Feb ruary, 1981, as assistant vice pres The National Association of Bank ident. Women, Mid Plains Group, will hold its September meeting at Cascio’s MASON CITY: James S. Niemants has been elected president, chief ex Steak House, 1620 South 10th, ecutive officer and a director of Omaha, on Tuesday, September 28. American State Bank. Mr. Nie Cocktails will be served beginning at mants succeeds George W. Meyer, 5:30 p.m with dinner at 6:30 p.m. who has resigned to pursue other in Special highlight of the evening will terests. Mr. Niemants previously be a presentation on “ Adapting to a was executive vice president with Changing Environment” by Ms. the bank and was responsible for the Alice Dittman, president of the Cornhusker Bank, Lincoln. loan portfolio. p ir s t in Iowa, by putting Iowa first. Bob Buenneke Member FDIC requesting bankers to inform their home state legislators of their posi tion and reasons for that stance. □ Iowa News The 96th Annual Iowa Bankers Convention was held this past week in Des Moines. L.C. “ Bud” Pike, president of the Farmers Savings Bank in Grundy Center, succeeded Tom Dunlap as the new president of the association. A.W . “ A l” Maser, president, The Lakes National Bank, Arnolds Park, will serve as president-elect to succeed Mr. Pike in 1983-84. Serving as treasurer for the association another year is Russell W. Spearman, president, Citizens Savings Bank, Sac City, and continuing to head the full-time staff at the IB A headquarters is ASK STAN FARMER to make MNB work for you. Toll free 1- 800 - 332-5991 Merchants ^ National Bank 151 Member F.D.I.C. A BANKS OF IOWA' BANK https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis REMSEN: Dale Anderson has been promoted to vice president and man ager of First Trust & Savings Bank. He was also elected to the board of directors. Mr. Anderson joined the bank as cashier in 1974 and has served in the capacity of assistant manager since that time. He repla ces James P. Lage, who has joined Citizens State Bank in Postville as executive vice president. Nebraska News The Nebraska Bankers Associa tion will conduct its 1982 Marketing Conference October 6 & 7 at the Kearney Ramada Inn. The confer ence hopes to provide for bankers an insightful look at how community banks in Nebraska can integrate advertising, research and sales training into an effective, costefficient marketing program. The program schedule for the two-day conference follows: A.M. Wednesday, October 6 9:30 G en era l S e s s io n — “ M a r keting Myopia.” ® q £ # • w Minnesota News EVELETH: Robert Hatten, presi dent of the First Northwestern Na tional Bank of Eveleth, with offices in Hoyt Lakes and Eveleth, has an nounced the election of two officers, following the first combined board meeting since the merger. Verna Kopp was promoted to vice president and Hoyt Lakes office manager and Lynn Spier to vice president and controller. Ms. Kopp has been with "Opportunity^. Knocks..." T ® ® DATED: f ^ September 1,1982 DENOMINATION: $5,000 Both principal and semiannual interest (June 1 and December 1; first coupon due June 1,1983) payable at the office of the City Treasurer, Cedar Falls, Iowa. IN THE OPINION OF COUNSEL INTEREST ON THESE BONDS IS EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES. MATURITIES 10.60% 101/4% 10.60 June 1,1997 $ 75,000 June 1, 1985 $300,000 8.00 75,000 June 1,1986 8.25 103/4% 100,000 June 1,1987 8.50 100,000 June 1,1988 $325,000 June 1,1998 10.75 8.75 125,000 June 1,1980 9.00 10.90% 125,000 June 1,1990 9.20 150,000 June 1,1991 $375,000 June 1, 1999 9.40 10.90’ 10.40% 11.00% $175,000 June 1,1992 9.60 175,000 June 1,1993 9.80 $250,000 June 1, 2000 11.00 200,000 June 1,1994 10.00* 225,000 June 1,1995 10.20* 250,000 June 1,1996 10.40* * Callable on June 1, 1993 in inverse order at 102% declining to 100% LEGALITY TO BE APPROVED BY AHLERS, COONEY, DORWEILER, HAYNIE & SMITH, ATTORNEYS, DES MOINES, IOWA. W ® The City of Cedar Falls is located in Blackhawk County in the north central section of the State. The City represents a significant portion of the Waterloo-Cedar Falls metropolitan area and many industrial/commerclal, retail and service-oriented business establishments provide employment opportunities to area residents. Some of the largest employers in the City include: University of Northern Iowa (post secondary education); John Deere Products Engineering (Agricultural equipment; engines); Viking Pump Division Houdallle Industries (rotary pumps) and Caly Equipment Corporation (farm machinery). Transportation Is provided by two railroads, two U.S. highways, and Interstate 80 and 35 are nearby. Commercial airline service is available in Waterloo. There are three banks located in Cedar Falls with deposits exceeding $118,478,000. The population according to the U.S. Federal Census In 1980 was 36,322. These bonds are being issued pursuant to Chapter 384 of the Code of Iowa to fund the balance of the sewer system Improvements which in cludes renovation and expansion of the wastewater treatment facility. HISTORICAL EARNINGS • 1979 1980 Gross Revenue $ 396,154 $ 407,628 Net Income (52,521) (76,206) Cash Flow 66,070 60,623 Additional Revenue Available 1,688,701 1,736,058 TOTAL $1,754,771 $1,796,681 Projected coverage approximately 3.25x debt service requirement 1981 $ 486,643 (22,595) 52,205 1,723,357 $1,775,562 1982 (Unaudited) $ 561,686 89.252 89.252 1,658,314 $1,747,566 The information contained herein is not guaranteed, but is derived from sources we deem reliable and is that on which our purchase of these bonds are based. Bonds of a particular maturity may or may not still be available or may now be available at a price or yield different from that indicated above. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Division of Hutton & Company Inc. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CALL ON THE “PERFORM ANCE TEA M ” where comm on transactions are handled uncomm only well. FIRST N A TIO N A L LI NCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. ^ ® * ^ ^ the bank since 1965 and Ms. Spier began with the bank in 1974. STEW ART: The First State Bank of Stewart has changed its name to The First Bank of Minnesota, effective September 17, following ap proval from Commissioner of Banks Micahel J. Pint. WINDOM: Glenn Jansen has been named senior vice president in charge of lending at First Bank Windom. Mr. Jansen previously was with the the First Bank Rochester for eight and a half years, most recently as assistant vice president. WINONA: Ralph E. Petz, Roger E. Przybylski and John W. Scheneman have all been named senior vice presidents of First Northwestern Bank. Mr. Petz has been with the bank since 1963, most recently as first vice president. Mr. Przybylski joined in 1967 and has been serving as vice president and manager of the instalment loan department. Mr. Scheneman, who has been serving as vice president and cashier, joined in 1968 as auditor. Mr. Feezor is president of Peoples Bank of Marion and is chairman of Illinois Bankpac. CHICAGO: Dean D. Lawrence has been named vice president and man ager of the real estate department at Colonial Bank and Trust Company. Mr. Lawrence comes to Colonial after serving as assistant vice presi dent of real estate lending at Pioneer Bank. CHICAGO H EIG H TS: Chicago Heights National Bank will host an open house Friday and Saturday, October 1 and 2, during regular lob by hours, as part of an effort by the bank to get better acquainted with customers and area people. As part of the open house, a 19" color televi sion will be given away to some lucky winner. The drawing will be held Saturday in the bank lobby. South Dakota News FAITH: An agreement to sell ma jority interest of The Farmers State Bank of Faith to South Dakota Bancshares, Inc., was announced last week by Francys Naslund, pres ident of the bank. Mrs. Naslund said Illinois News the sale of the Farmers State Bank Illinois bankers have elected Ken stock has to be approved by the neth A. Skopec, James L. Winning- board of governors of the Federal ham and Gerald K. Feezor as their Reserve Bank before becoming final, state’s three representatives on the but is expected early next year. A B A Council for two-year terms. South Dakota Bancshares Presi The special mail balloting was com dent Charles H. Burke, Pierre, said pleted by September 3 and ballots his firm anticipates no major chan then were counted by a public ac ges in the management or operation counting firm. Mr. Skopec is presi of the Faith bank. South Dakota dent of Mid-City National Bank of Bankshares, Inc. which owns ma Chicago and currently is first vice jority interest in BankWest, N.A., president of the Illinois Bankers does not contemplate making the Association. Mr. Winningham is Farmers State Bank a branch of president, State Bank of Arthur. BankWest. Call our Bond Department Getting it done for you. Wyoming News RAW LINS: Tom Grove, an officer in the Affiliated Bank Corporation of Wyoming since 1971, has been named to replace Douglas Krogh as president of the Wyoming Bank of Rawlins. Mr. Krogh, president since 1979, has resigned to enter private business in Buffalo. Starting his banking career in 1971, Mr. Grove served first with Wyoming National Bank of Casper. In 1974 he trans ferred to W yoming National Bank of Gillette to help open the newlychartered bank and to develop its in stalment loan department. In 1979 he rejoined the Casper bank and was named vice president and manager of the instalment loan department. Montana News HAVRE: Ronald J. Remick has been elected senior vice president of First Security Bank, effective Oc tober 1. A veteran of 12 years in the banking business, Mr. Remick has served the previous five years as president of Northern Bank of Big Sandy. SIDNEY: The Richland National Bank of Sidney has changed its name to The Richland National Bank & Trust, reflecting the added services now available with the addi tion of a trust department. Colorado News SOUTHGLENN: Korvin L. Powell has been named vice president of operations of The First National Bank. Mr. Powell joins the bank from The First National Bank of Denver, where he was vice president of individual financial services. Tom Steffens Vice President John Henderson Vice President 234-2462 Tony Paugoulatos Jim McLaughlin Asst.Vice President Asst.Vice President Dave Wittenborn Bond O ffic e r 234-2463 234-2647 234-2691 234-2673 i| i Com m erce Bank o f Kansas City 10th and Walnut MEMBER FDIC * r https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Rick Patton Bond Representative *234-2877 (816) 234-2000 — WANT ADS — Rates are $5.00 per line per insertion. Add $3.00 for file letters per insertion. Identity of file letter advertisers cannot be revealed. Northwestern Banker 306-15th Street Des Moines, Iowa 50309 Phone 515/244-8163 BANKERS AVAILABLE Walk down the tellers line this morn ing. Are you proud of their appear ance? If not, call us and find out how only $ 1 .0 0 per day per teller will help. Ü tesJ/uMr^ CAREERAPPAREL I 5 2 3 N . M a in S t., C a r ro ll, la ., 5 1 4 0 1 7 1 2 -7 9 2 -2 7 4 8 | FOR SALE Ready to move to new location. Offering complete fur nishings for a bank, Including 4 teller stations, 1 reception desk, 1 large executive desk, 2 executive desks, 3 book keeping desks, 10 nests safe deposit boxes In good condi tion. Contact: Wall Lake Savings Bank, Wall Lake, Iowa 51466. Phone: (712)664-2311. (FS) Ag Lender with three years experience and farm background.................................................Salary $20,000 Number Two man in small western Iowa community bank. Four years experience, and all Insurance licenses........... .....................................................................Salary $25,000 Executive In $15 million bank with 20 years exp. and col lege degree. Licensed for all lin e s .................Salary open President of smaller Illinois community bank seeks new situation in southern Iowa, Missouri or central Illinois . . . . .....................................................................Salary $32,000 Senior Vice President/Retail Banking in $120 million bank. .........................................................................Salary neg. Strong Second Man in smaller Iowa community bank . . . . .....................................................................Salary $32,000 Commercial Lender in larger community bank. Has been examiner...................................................... Salary $33,000 Computer Specialist and data processing marketing ex pert ................... : .........................................Salary $40,000 Top Administrative Officer, age 36, MBA degree and heavy experience.................................................. Salary $50,000 Cashier with four year experience, college grad. .. $23,000 Installment Officer with 12 years experience.................... .....................................................................Salary $25,000 CEO of community bank, age 32, excellent background in ag loans and investments. Seeking future growth situa tion.............................................................. Salary $35,000 MANAGING OFFICER—for a $12 million bank In Western Nebraska. Must have operational as well as credit ex perience. Agricultural background helpful. Excellent salary and fringe benefits. Send resume and snapshot, In complete confidence, to Mel Adams, Box 209, Ogallala, Nebraska 69153. (PA) Trust Officer w/law degree and estate planning exper ience............................................................ Salary $35,000 Write or call Malcolm Freeland, Freeland Financial Ser vice, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays reasonable fee. MARKETING OFFICER—$70 million Minnesota bank. Send resume to file QBX c/o Northwestern Banker. (PA) TIMETEMPERATURE CEO—$30 million dollar ag bank chain. Eastern Nebraska. Experience required in all phases of banking. Must be ex tremely skilled, competent, and likeable. Send resume to file QBV, c/o Northwestern Banker. (PA) QUALITY SIGNS • Designed • Manufactured • Installed Ag. loan officer wanted with 5-10 years loan experience. Good salary. In $25 million bank In northwest Iowa. Phone Dale Anderson, 712/786-1153. (PA) $2895 Experienced Iowa banker for Vice President and Cashier. Contact C.H. Walsh, president, Farmers & Merchants Bank & Trust, Box 928, Burlington, IA 52601. Phone 319/752-3661. (PA) L IBMl ___________ SEE THE SUMMIT!!! Three-Bedroom and Two-Bedroom, two bath townhomes available for sale or rent. Most have covered hot tubs on the deck. Prices range from $114,000.00 to $128,000.00. Financing available. Contact: I POSITIONS AVAILABLE DWAYNE SMITH I Operations/Cashier..............................................Salary to$30,000 I Paradise Properties, P.O. Box S Dillon, Colorado 80435 Phone: 303/468-5846 Correspondent Banker........................................ Salary to$30,000 Junior Commercial Loan Officer............ Salary to $25,000 I Investment Supervisor......................................... Salary to $35,000 Senior Vice President/Chief Loan Officer.......................... ............................................................... Salary to $50,000 POSITIONS AVAILABLE Commercial Lender for eastern Iowa bank. Requires 5 years or more experience and college degree, good family background............................................ Salary to $36,000 Number Two Person for N.W. Iowa bank .Salary Mid-$20’s Please write or call in confidence to: Brad Boe, finance specialist, Management Recruiters, 7625 Metro Boulevard, Suite 350, Minneapolis, Minn. 55435. Phone 612/835-4666. FOR LEASE Ag Rep for north central Iowa bank. Requires two or more years experience..................................................... Salary$22,000 Drlve-up window unit 8' x 12' complete. Good alrSenior Ag Lender for N.W. Iowa Bank. Requires 5-10 years condltlonlng and heat. Available Nov. 1st — 401 Queens experience................................................................. Salary$32,000 Court, Sioux City, IA 51104. Phone 712/239-2315. (FL) CEO for larger South Dakota bank, Ag related................... ............. ............................................................Salary open Number Two Person for major bank in outstate Nebraska. Requires solid experience in administration and lending . ......................................................................Salary $40,000 IOWA NATIONAL BANK CURRENCY Office Manager with Ag backgroundfor central Iowa bank .............................................................................. $25,000 Commercial Lender for major Iowa bank. 3-5 years ex perience .........................................................Salary Open Write or call in confidence to Malcolm Freeland, Freeland Financial Service, Inc., 1032 Carriers Bldg., Des Moines, Iowa 50309. Phone 515/282-6462. Employer pays fee. Please Contact: J. Mason Henry I Charles E. Walters Co., Inc. I L 39 GingerWoods Road, Valley, Nebraska68064 Phone: (402) 553-6400 POSITIONS AVAILABLE COMMERCIAL LOAN—head dept, for $80MM community bank. Some background In Agri-business credits desired. $40,000 SECOND OFFICER—profitable $30MM rural bank. Strength In Agri-loans along with some operations ex perience required. $30,000 AGRI-LOAN—opportunity to function as senior Ag-officer in $25MM bank. Degree and four years or more as Aglender desired. $25,000 AGRI-LOAN—rural affiliate of holding company seeks Aglender with 2-3 yrs, experience. Degree preferred. $20,000 OPERATIONS—opportunity to assume second position in $20MM rural bank. Some exposure to Agri-credits desired. $28,000 forsmaller eastern Nebraska com Salary to $25,000 Cashier for larger eastern Iowa bank. Requires 5 or more years of solid operations experience and data processing knowledge.......................................................Salary open □ I would like to sell my majority bank stock. □ I would like to buy ma jority bank stock. JUNIOR COMMERCIAL LOAN—progressive suburban bank is adding to staff. Formal credit analysis background with some lending experience will qualify. $22,000 CEO for community bank in eastern Nebraska................. .................................................... .....................Salary open Number Two person munity b a n k P.O. Box 263 Grand Island, Nebraska 68801 (308)384-0111 WANTED FOR PERSONAL COLLECTION Also paying top prices for other “ types” of U.S. currency and finan cial paper. DON MARK Box 1, Adel, IA 50003 *515/270-8170 All inquiries confidential. Resume' and salary history re quested. TOM HAGAN & ASSOCIATES of Kansas City 2024 Swift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” Voi. 11 No. 23 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 306 Fifteenth 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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