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Vol. 12 No. 20

Des Moines, Iowa

September 5,1983

Bush Task Force Sends Up “ Balloon” :

Force. FD IC Chairman W illiam
Isaac wants Senate Banking Com­
m itte e C hairm an Jake G arn
(R.-Utah) to consider the issues of
mission which would assume the
deposit reform, financial regulatory
regulatory functions now performed
structure, and expanded powers for
by the Comptroller, FD IC and the
banks and thrifts all at the same
Fed. The definition of “ large” so far
time. Mr. Isaac also wants to con­
could encompass banks from $350
solidate regulatory functions of the
million to $1 billion assets and
FH LBB , the Fed and Comptroller
above. Any bank falling below that
into one independent agency, charg­
established minimum would fall ed with licensing and regulation of
under a new, five-member board
the industry. The FD IC would re­
which would take over most of the
main an independent agency and
functions of the FH LBB and some
would absorb the FSLIC, perform
functions of the FDIC.
examinations and take enforcement
Under this plan, the F ed’s actions.
regulatory authority would ter­
Comptroller Conover favors con­
minate, but it would retain authori­
s o lid a tio n to a five-m em b er
ty to implement monetary policy regulatory board. The Fed opposes
and to function as a lender of last the liftin g of its regulatory func­
resort by operating the discount
tions. The FH LB B wants no part of
a plan that would disassemble it in
Mr. Breeden also wants to con­ any way.
solidate the FD IC and FSLIC into
one deposit agency; the SEC would
Iowa News
regulate all securities activities of
banks and thrifts; Justice Depart­
Farmers and farm business people
ment would handle all reviews of w ill have a chance to learn more
bank or thrift mergers on antitrust about using computers in their
grounds, and the Federal Trade specialized farming enterprises at a
Commission would enforce all con­ series of conferences known as
sumer protection laws. No changes F A R M (Farm and Agricultural
on credit union regulation were in­ Resources Management) to be held
at five locations across Iowa this
The House and Senate Banking fall.
B ob J o lly , IS U e x te n sio n
Committees already have several
bills before them and it is believed economist and F A R M ‘83 coor­
they w ill pursue those bills before dinator has announced the following
taking up any further recommenda­ dates and locations:
Sept. 7—Washington, contact
tions emanating from the Task

Place Small Banks Under FH LB B
NE O PTIO N before the Vice
Presidential Task Group on
Regulation of Financial Services
would create a two-tier system of
regulation by placing regulation of
most banks in a new banking com­
mission, then expanding the powers
of the Federal Home Loan Bank
Board to include regulation of small
community banks and thrifts.
This is reportedly the “ favored”
option of Richard Breeden, deputy
counsel to Vice President George
Bush, and staff director of the task
force. No particular plan has yet
been selected by the task force
members. They include the federal
financial regulators, along with
leaders of the Council of Economic
Advisors, the Office of Management
and Budget, the Justice Department
and the Treasury Department.
However, recommendations from
the staff are to be made to task force
members in September, and that
group is then supposed to make
legislative recommendations to the
President for re-designing the pre­
sent financial regulatory system.
Those recommendations to the
President are expected in October,
and after his review and changes
would go to Congress.
Under the Breeden concept, which
first surfaced in May, large banks
and S&Ls would be regulated by a
new, five-member federal bank com­


where common transactions
are handled uncommonly


■ M il


13th & M S tre e t • L in c o ln , N e b ra s k a 68501 • M e m b e r, F .D .I.C .
Federal Reserve Bank of St. Louis

M k H

Norwest Bank Des Moines , N.A.


Call (515) 245-3131 or toll-free (800) 362-2514


Member FDIC

Yearn work:
one of the reasons
we’re first in Iowa.
Bernie Kersey

Dorothea Wolfe

“ The Implications of the Gam-St.
Germain Depository Institutions
A ct of 1982” to be held September
15 at the Hotel Fort Des Moines,
C a p ita l/ S ta te
R oom s
Wedgewood Room.
Speaker for the seminar is Rod
Dixon, an examiner in charge of the
Des Moines sub-region. He has been
with two bank holding companies in
eight years; one in Des Moines and
one in Colorado. He has been ex­
aminer for 17 years and the past
seven he has been an instructor in
OCC Schools, teaching laws and
regulations and financial analysis.
R egistration will begin at 6:00 on
the 15th, with the actual seminar
* * *
The Des Moines Chapter of A IB running from 7:00-9:00. Cost is
in conjunction with The Central $8.50 for A IB and B A I members,
Iowa Chapter of B A I are presenting $10.00 for non-members. Registra­
tion deadline is September 8.

Gene Vincent, Davenport Area Ex­
tension crop production specialist,
at 319/391-3227.
Sept. 8—Cherokee, contact Gary
Vogt, Sioux C ity Area Extension
m an agem en t
s p e c ia lis t,
Sept. 9—Red Oak, contact Mark
Hanna, Council Bluffs Area Exten­
sion soil, water and waste manage­
ment specialist, at 712/328-0077.
Sept. 13—Fayette, contact B ill
Huemoeller, Dubuque Area Exten­
sion management specialist, at
The first conference was already
held August 30 in Ames.

to m ake M N B
w ork for you.
Toll free
1- 800- 332-5991

National Bank IS I
M em ber F.D.I.C.
Federal Reserve Bank of St. Louis


A U R E L IA : M ajority interest in
First Trust and Savings Bank was
sold to a local investor group last
week by Mrs. H. H. D eyloff. The
sale involved 740 shares held by
Mrs. D eyloff and the estate of the
late H. H. D eyloff, former president
and chairman who died December
15,1981. A ll 1,200 shares are locally
owned by the new group. A ll officers
remain the same, including Pres.
Rex W hitney and managing officer
Duane Gaudian, vice president and
CLEG H O RN: Bradley Carlson has
been named president of Cleghom
State Bank. He succeeds Arnold

Jensen, who recently retired after 16
years with the bank. Mr. Jensen has
been in banking 36 years. Mr.
Carlson has been with Cleghom
State Bank for eight years.
E S T H E R V ILLE : Phil Kennedy has
joined the staff of United Central
Bank & Trust Company as vice
president and agricultural represen­
tative. Mr. Kennedy has been
employed at Home State Bank of
Jefferson where he was agricultural
loan officer and farm manager for
four years.
SAC C IT Y : Gary Gilliland w ill be
join in g Sac C ity S tate Bank
September 15 as vice president. He
replaces Larry Reding who resigned
last June to accept a position with a
Des Moines bank. Mr. Gilliland has
been employed by the National
Bank of Monmouth, Illinois, for the
past 14 years.
SW E A C IT Y : Lee Davidson, presi­
dent of North Kossuth Investment
Co. and chairman of the Swea City
State Bank, has announced the pro­
posed sale of the controlling interest
in the bank to W illiam Phelps and
James Rock of Swea City, and
Charles Phelps and Dan Phelps of
Red Oak. Dennis P. M ittag w ill con­
tinue to serve as president of the
bank and as acting executive officer.
A ll other personnel w ill remain the
same. The sale is subject to
regulatory approval. Mr. Davidson
joined the bank in 1960 and is retir­
ing after 45 years in the banking

Minnesota News
The Minnesota Bankers Associa­
tion nominating committee has
recommended the following can­
didates for the 1984-85 association
officer positions:
Galen T. Pate, president, Signal
H ills State Bank, W est St. Paul, and
currently first vice president, has
been nominated to succeed Herbert
A. Lund as president.
Clinton D. Kurtz, president,

Professional ...
Call Mark Christen for
any correspondent service.
Call toll free (800) 622-7262

Valley National Bank




Member FDIC

And you thought you knew where the collateral


W hy run the risk of doing all your usual thorough
paper work and documentation and then find your
collateral has gone to market? Without your knowledge.
That’s where Collateral Control comes in.
Whether it’s agricultural products, manufactured goods
or anything that can be counted — Collateral Control
w ill help your bank secure working capital loans.
Today’s creative lenders are putting together
more and more loan packages that include a revolving
line of credit against receivables and inventory. And
in the process they’re discovering what some banks
have known all along. That asset-based lending can be
perhaps the most secure form of lending.
See how your bank — with the help of Collateral
Control — can grow and profit with asset-based lending.
Do not assume that you have a situation too
difficult to manage. If you can put a fence around it or
a roof over it, Collateral Control has the service to fit
your specific need.

Federal Reserve Bank of St. Louis

N o w availab le — com p reh en sive all n e w co lla tera l m anage­
m ent booklet.
Send m e a fre e copy.
................ ...........................T itle ____________________

N am e—
InstitutionA d d ress___

Mail to:

. State.


Supplement to Northwestern Banker Newsletter 9-5-83

-Z ip.

Corporate Office
444 Lafayette Rd.
St. Paul, M N 55101
Federal Reserve Bank of St. Louis

An Open
Invitation to

1983 International Financial Seminar
December 1-10, 1983
L and A rra n ge m en ts

The first N o r t h w e s t e r n B a n k e r International Seminar has
been announced by Ben Haller, Jr., publisher o f T h e N o r t h ­
w e s t e r n B a n k e r . This gathering o f banking executives and
associates will present the opportunity to enjoy London in
early December, the height o f the colorful theatre and holi­
day season, while participating in professional study ses­
sions under the auspices o f London School o f Economics.
Technical visits and discussion periods at participating
banks, Building Societies, and Lloyds o f London also are
planned, as well as social activities with British counter­

The program will include deluxe hotel accommodations
at London’s Brittania Hotel for six nights, plus two nights
at the traditional White Hart Inn in the Cathedral City o f
Salisbury, a wonderful welcome to the Holiday season.
Breakfast each morning, special dinners, receptions,
sightseeing and a unique and profitable educational ex­
perience make this a never to be forgotten travel adventure
for all. The land package is just 8549 per person, based on
double occupancy o f rooms and the seminar fee is 8175
per participating financial executive.

T r a v e l A rra n ge m en ts
Air fares are now being finalized for Holiday Season
travel, and your flights will be on regularly scheduled
airlines. Your prompt response will bring you full details
and air fare quotation from your home city.

A Dickensian Holiday atmosphere will prevail through
this exciting and educational week with a stop at “The Olde
Curiosity Shop,” and lunch at the Dickens Inn as part o f
the planned activities. Face to face meetings with your
British peers will present a view o f the financial world
from the other side o f the Atlantic. Without a doubt, the
holiday spirit and the lights and decorations o f world
famous retailers such as Herrods, FortnumMason, and
Simpsons will be tempting to Christmas shoppers and
browsers alike.

In te rn a tio n a l Fin an cial S em in ar
c/o Travel & Promotions, Ltd.
8527 University Blvd. Suite 7
D es Moines, Iowa 50311
December 1-10, 1983

T ax D e d u ctib le E d u ca tio n a l E xp en ses
Treasury regulations permit appropriate tax deductions
for educational expenses undertaken to maintain or im­
prove skills required for one’s employment or profession,
and Certificates o f Attendance will be presented to active


Yes, I’m interested in the International Financial
Seminar in England.
Enclosed is my check for the Seminar Registra­
tion Fee o f 8175.
Please send complete details with air fare from
(home city)________________________________________ .

Nam e(s)
City-----Home Phone
Federal Reserve Bank of St. Louis


Z ip .

Office Phone

Supplement to Northwestern Banker Newsletter 9-5-83
Federal Reserve Bank of St. Louis



Citizens State Bank, Norwood, has
been proposed for first vice president to succeed Mr. Pate.
Roy W. Terwilliger, president,
Suburban National Bank, Eden
Prairie, is the recommended can­
didate for second vice president.
R. Scott Jones, president, Goodhue
County National Bank, Red Wing, is
the candidate for treasurer, to suc­
ceed James R. Jorstad.
/ * * *
The Minnesota Bankers Associa­
tion 1983 district meetings will be
held at seven locations during
Septem ber and w ill focus on
deregulation proposals, D IDC ac­
tions effective October 1, reporting
requirements of T E F R A and M B A
programs and activities, in addition
to the district business meeting.
The .meetings will begin at 3:00
p.m. followed by a 5:45 reception
and 6:30 dinner and program. Dates
and locations for the meetings
D istrict 9—September 20, H oli­
day Inn, Fergus Falls;
D istrict 6—September 21, Sunwood Inn, St. Cloud;
D istrict 8—September 22, H oli­
day Inn, Duluth;
Districts 3-4-5—September 26,
Registry Hotel, Bloomington;
D is tr ic t 1 — S ep tem b er 27,
Ramada Inn, Rochester;
D istrict 2—September 28, Orchid
Inn, Sleepy Eye, and
D istrict 7—September 29, Best
Western, Montevideo.
M IN N E T O N K A : A free Sunday
afternoon concert by the Minnesota
O rch e stra is sch ed u led fo r
September 11 at 3:00 p.m. at
Ridgedale Center. The concert is be­
ing underwritten by National City
Bank of Ridgedale to celebrate the
grand opening of its new head­
quarters at 1809 Plymouth Road

Nebraska News
O M AH A: Dennis J. Hanneman has
been e le cted v ic e p resid en tcommercial loans, at American Na­
tio n a l Bank. M r. Hannem an
previously served as a commercial
loan officer for three years in B ill­
ings, Montana.
STROM SBURG: Stewart K. Jobes
was recently appointed vice presi­
dent of the First National Bank. He
will be in charge of the bank’s loan
portfolio. He most recently was with
 State Bank in Kearney.
Federal Reserve Bank of St. Louis


SU PERIO R: Farmers State Bank
vice president Lloyd Boersma
retired recently after a 63 year bank­
ing career at the Superior bank.
Mr. Boersma, who also served as
director, was vice president and
director of the Hardy State Bank in
Hardy as well. Farmers State Bank
has also announced the employment
of Edward J. Meekins as vice presi­
dent. He previously was president of
the M itchell Home Savings and
Loan Association in Mitchell, S.D.
T A LM A G E : The telephone number
for The Bank of Talmage is listed in­
correctly in the 1983 edition of The
Nebraska Bank Directory. The cor­
rect number is: 402 264-2795. (The
prefix is listed incorrectly as 254.)

Illinois News
The Illinois Bankers Association
has scheduled four one-day seminars
aimed at providing bankers with a
wide range of detailed information
on bank acquisitions.
A similar mini-presentation at the
IB A Convention in June attracted a
standing-room only audience so at­
tendance at the four upcoming
seminars w ill be limited. The dates
and locations are:
Sept. 20—Jumer’s Castle Lodge
Sept. 27—Holiday Inn, M t. Ver­

Sept. 28—H oliday Inn East,
Springfield, and
Sept. 29—M arriott, Oak Brook.
A ll seminars begin at 8:30 a.m.
For more information call Fred
Straub at 217/789-9340.
A R L IN G T O N H E IG H TS: Bette B.
Perna has joined The Bank & Trust
Company of Arlington Heights as
senior vice president and cashier,
community banking department.
Mrs. Pema formerly was affiliated
with American National Bank &
Trust Company of Chicago as vice
president, com m ercial banking

Wyoming News
The 1983 W yom ing Bankers
Association Consumer Credit Con­
ference has been scheduled for
September 15 and 16, Hitching Post
Inn, Cheyenne.
This year’s committee, chaired by
Brad Pickering, First W yom ing
Bank, N .A. East, Cheyenne, has
chosen “ Deregulation” as the theme
for the conference.
Parrelleling deregulation in their
own industries w ill be Bruce Becker
o f Am erican B ell and Chuck
Demonez o f Frontier A irlines.
H ighlighting what is ahead for the
banking industry w ill be James
Hatch, one of A B A ’s experts on
banking deregulation and its effects.
The Program w ill continue with a

An important new profit center
for your bank:


Leroy Bell or
Milt Hennick

a co m p uterized
local b illin ^ cred it service

319 291-5412

National Bank of Waterloo
315 East 5th S t • W aterloo, IA 5 0 7 0 4

Member Federal Reserve System FDIC

session on pricing and marketing,
w ith three W yom ing bankers
d is c u s s in g th e “ W y o m in g ”
marketplace. The business program
w ill close with a “ collection panel”
session where conferees pose ques­
tions and field answers from a panel
of veritable collection experts. This
year’srslant will be on “ Working Out
of Larger Credits.”
The Wyomingaires w ill be on
hand to provide entertainment for
Thursday even ing. D r. H ugh
McGinley, professor of psychology,
w ill speak at the luncheon on Friday.
A t the Friday banquet, G il Hamblet
will close with his humorous rendi­
tion of “ Don’t Take Yourself Too
CASPER: Robert T. Noel, executive
vice president of Affiliated Bank
Corporation, w ill assume the posi­
tion of president and chief operating
officer and a director of The Wyom­
ing National Bank, filling the post
vacated by the resignation of Robert
L. Hays. Mr. Noel will continue to
serve ABC as its executive vice pres­
ident and director. Mr. Noel joined
ABC in 1982, following a banking
background in California, Colorado
and, since 1971, Wyoming.
Rates are$5.00 per line per Insertion. Add $3.00 tortile
letters per Insertion. Identity of file letter advertisers
cannot be revealed.
306-15th Street
Des Moines, iowa 50309
Phone 515/244-8163_______________

AG LENDER AND OPERATIONS fo r 35 m illion bank in cen­
tral Nebraska. Would like to have 2-5 years ag lending and
operations experience. Responsible also fo r IRA and
Keogh accounts. Salary open, w ith experience. Please
send resume to file UBT, c/o Northwestern Banker.
ADVERTISING DIRECTOR— m inim um 3 years exp.,
preferably w ith financial institution or ad agency, and ex­
cellent w riting skills. Send resume to Personnel Dept.,
American Federal, 601 Grand, Des Moines, la. 50307 (PA)
PRESIDENT— North Iowa bank w ith $20 m illion plus
assets. Salary negotiable. Send resume to file UBW, c/o
N orthwestern Banker.____________________________ (PA)
ASSISTANT CONTROLLER— Four-year a c c o u n tin g
degree, a CPA or working toward a CPA. W ould like 1 to 2
years experience w ith a public accounting firm . Send
resume to Diane Good, National Bank o f Waterloo, 100 E.
Park Ave., Waterloo, IA 50704._____________________ (PA)
Immediate opening fo r SENIOR OPERATIONS OFFICER
of $65 m illion bank In northeast Iowa. Position w ill require
leadership skills in all areas o f banking. Strong accoun­
ting and controls background a must. Send resume to file
UBX, c/o Northwestern Banker.__________________ (PA)

Ag Banking Personnel
Let us help you. C a ll th e ag lending personnel
s p e c ia lis ts w ith o u t cost or ob lig atio n . C o n fi­
d e n tia l. E m ployers pay us to hire the best.

CEO fo r western Illinois com m unity bank. Requires
minimum of five yèars experience w ith emphasis on ag
lending.......................................................... Salary to $36,000
EXECUTIVE position w ith northern Iowa bank. Must be
good adm inistrator, lender, and civic leader.Salary $40,000
Commercial Lender fo r $60 m illion com m unity bank
located in town of 5,000. Must have demonstrated lending
ability to sm all business.............................Salary to $40,000
Commercial Lender for major eastern Iowa bank. Requires
minimum of five years experience................. Salary $36,000
Commercial Lender for southeastern Iowa bank. Requires
su fficient experience to head department in $45 m illion
bank.............................................S t ................ Salary $36,000

Linda: 515/394-5827
Jeannie: 515/263-9598 if
New Hampton, la. 50659 no answer, 712/779-3567
Massena, Iowa 50853

3017 G4REERS, IN C .


Ag Lender for southern Minnesota com m unity bank. Ex­
cellent opportunity fo r person w ith experience in either
bank or PCA..................................................Salary to $30,000
Ag Lender for com m unity bank in northeast Iowa dairy
region. W ill consider either bank or PCA experience...........
..................................................................... Salary to $25,000
Commercial Lender for major Iowa bank. Requires three or
more years experience and college degree. Salary to $32,000
Ag Lender fo r north central Iowa bank. Requires degree
- and tw o or more years experience............ Salary to $25,000

One and two bedroom
condos on Main Street
in Frisco, Colorado at
pre-construction prices.

Ag Lender for northwest Iowa com m unity bank. Requires
experience w ith bank or PCA. Insurance licenses s p lu s ...
........................................................................... Salary $25,000

Call: 1-800-922-2590
Dwayne Smith
Paradise Properties
Box S
Dillon, Colorado 80435

Compliance specialist to head department for large
midwest b a n k .....................................................Salary open.


CEO to head small suburban bank in Nebraska. Salary open.
Bank Farm Manager to head department in major midwest
b a n k .....................................................................Salary open.

W rite or call Malcolm Freeland, c/o Freeland Financial
Service, Inc., 1032 Carriers Bldg., Des Moines, la. 50309.
Phone 515/282-6462. Employer pays reasonable fee.

<zJ~fo[d.£X and. (Z^hioaLats.*.

If you would like to evaluate your career, my
clients across the country have a wide range
of needs in operations, lending, and trust.
Salaries are in the $20-80,000 range. C lients
pay our service charge. C all or write:

W alt Heyne, Dunhill of Fayetteville
Box 1570, Rogers, Arkansas 72756
Phone: 501/636-8578

Bank Consultants
Specializing in Bank Acquisitions
P.O . Box 450

405 Main Ames, Iowa 50010

Donald E. Holder, Principal
Why Not a Higher Paying Position?
Call us and lets talk about your banking career.

RENT, RENT, Single pocket NCR 775 as low as $95.00 per
month. Other bank equipment available. Call Bill, Bankers
Elec. Equip. 308/384-5995._________________________ (FS)
Three (3) nests of safe deposit boxes, 260 boxes in all. I am
tired of w alking around them and looking at them. Best of­
fer I have 2 weeks after this ad is run owns them. Ralph
Adams President, Chambers State Bank, Chambers, Nebr.
68725. Phone: 402/482-5222._______________________ (FS)
IBM 32 Pocket, 803 Proof Machine. Make offer. Contact:
Carol Horn, First National Bank, St. Joseph, Mo. Phone:

CEO w ith proven high performance record in com m unity
bank seeks new opportunity......................... Salary $45,000
Commercial Lenders w ith experience ranging from three
to 20 years.................................................... Salary to $50,000
Senior Ag Lenders w ith experience ranging from 5 to 20
years............................................................. Salary to $40,000
Junior Ag Lenders w ith one to five years experience.
......................................................................Salary to $25,000


R.E.B. & Associates
Executive Search Consultants
13625 C. St., Omaha, Nebraska 68144
Phone: 402/333-8248 or 333-6604

OPERATIONS—handle reports, personnel, asset/liability,
management for $60MM com m unity bank. Degree pre­
REAL ESTATE LOAN—manage estate loan function (mostly
residential) for medium size holding company.
AGRILOAN—a ffilia te of major holding company seeks ex­
perienced ag lender to handle all ag credits and some
COMMERCIAL LOAN—$60MM suburban bank seeks jun­
ior commercial lender w ith two-three years bank lending
EXECUTIVE OFFICER— large com m unity bank desires
senior commercial lender w ith adm inistrative experience.
Second position.
AGRI-REP—junior management position w ith $30MM
rural bank. Requires degree and one-two yrs. bank ex­

Administrative Officers w ith major banking experience.
......................................................................Salary to $50,000

INSTALLMENT LOAN—$30MM rural bank w ith $4MM in­
stallm ent portfolio. Some real estate lending duties in­


Installment Lenders w ith over five years banking ex­
perience....................................................... Salary to $25,000

To inquire about a position, forward resume' and salary re­
quirements or contact:

Banking, Financial & Business Personnel
Iowa and Nationwide

Operations people w ith over five years experience.............
.....................................................................Salary to $30,000


If you are considering an additional officer, we have
dozens of- qualified applicants listed in most job cate­
gories. W rite or call Malcolm Freeland c/o Freeland Finan­
cial Services, Inc., 1032 Carriers Bldg., Des Moines, IA
50309. Phone 515/282-6462. Employer pays reasonable fee.

of Kansas City

714 U.C.B. Building, 515-283-2545
Des Moines, Iowa 50309

2024 Sw ift - Box 12346
North Kansas City, MO 64116
“ Serving the B anking Industry Since 1970”

Vol. 12 No. 20 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.
Federal Reserve Bank of St. Louis