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J Vol. 4 No. 19 Des Moines, lowa September8,1975 Propose Interstate Branching A J- x K ijr - M> Y*:' A* 1 i !| A U-- *■ Most of the recommendations contained in the Haskins & Sells study o f the O ffice o f the Comptroller of the Currency can be im plem ented b y adm inistrative action but a few would require legislation - including a proposal for interstate branching by national banks. Other legislative recommenda tions contained in the mammoth report include proposals to give the Comptroller authority to “ expedite removal of officers of national banks under exigent circu m stances” and to “ monitor and control changes in ownership and control of existing national banks.” The great majority of recommen dations, however, deal with mat ters that can be changed without legislation and m ost w ill be implemented within the next twelve months, Comptroller James E. Smith told a news conference. Included among these recom mendations are proposals for a sw itch in em phasis in bank examinations from detailed verifi cation procedures to reviewing, analyzing and evaluating bank management decisions, and an “ early warning system” to point up potential trouble spots and help detect banks in trouble. On the issue of branching, the study says the Comptroller “ should ask the Congress to authorize the establishm ent o f branches b y national banks under Federal standards irrespective of the law of the state in which either the particular bank is located or the proposed branch is to be located. “ Such authorization should spec ify that the Comptroller define branching areas that would maxi mize competition and public conve nience without reference to existing state boundaries.” Removing Officers On the question of removing officers and directors, the report recommends that the Comptroller orders should become effective when issued by the Comptroller in contrast to the current practice of becoming effective when issued by the Federal Reserve Board. “ The Comptroller should contin ue to notify the Federal Reserve Board of actions taken to remove officers or directors,” the report continues. “ The officer or director who is subject of the removal order should have the right to appeal to the Federal Reserve Board within 60 days and provision should be made for prompt disposition of such appeals. “ During the period in which the appeal and hearing procedures are pending, the officer and director When you need a little help call us on our toll free wats number 8 0 0 - 362-1615 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis v £ EDDIE A. WOLF should be precluded from serving the bank in any capacity. The Com ptroller should have the authority to initiate action to remove officers or directors based on a recom m endation o f the regional administrator.” Additionally, the report says that, to “ prevent con trol o f national banks by individuals or organizations which could poten tially threaten bank soundness, the Com ptroller should seek legal authority to require registration with the regional office of the Comptroller of any person or organization proposing to acquire control of a national bank (or control of any entity controlling a national bank) at least sixty days prior to obtaining such control. “ Such registration would contain the names, addresses and interest held or to be acquired by each member of the control group, and of any proposed changes of officers and directors. For the purpose of this regulation, ‘control’ could be defined as ownership of a specified percentage of the outstanding shares of the capital stock, and ownership would include shares held directly by such persons and those held beneficially for such person.” Major Recommendations The study, commissioned B R A N C H IN G .................. [Turn to page 5, please] WILLIAM B. RUSSELL G. GREGORYS. GERALD B. GREAVES PLAGER WOLFE MURPHY Correspondent Bank Department 44^ ^ ” Central National Bank 8-Trust Company DES MOINES (515) 243-8181 MEMBER FDIC LOCUST AT S IX TH /FIFTH & GRAND / 35TH & INGERSOLL / WEST DES MOINES in 2 SERVICE WITH NO SMILE. All our computer knows how to do is work. Quickly. Efficiently. But no smile. Bill Rickert and Ken Young are the ones who smile. Especially when they’re showing somebody how our straightfaced computer works. Call Bill or Ken today. J5J) 1-800-772-2015 National Bank of Waterloo Iowa News The Iowa Bankers Association’s 21st Annual Installment Lending Conference will be held September 16-17 at Adventureland Inn, lo cated at the intersection of 1-80 and Hwy. 65 in northeast Des Moines. Registration at 8:30 a.m. on Tuesday will be followed by the business meeting starting at 9:30 a.m. Presiding will be Edward C. Doyle, chairman of the retail bank ing committee and vice president, Merchants National, Cedar Rapids. IBA President Jack Campbell will extend a welcome. B U R L IN G T O N : M rs. M artha Hawkins has been elected assistant cashier and head teller at Burling ton Bank & Trust Co. She has been with the bank since 1955. A goodI correspondent [ bank relationship* is still built by good people. Y ours and ours. Service innovations are our business. Why not make them yours? Iowa-Des Moines National Bank Bernie Kersey KELLOGG: Chuck Fritz, president of Kellogg Savings Bank, has announced the election of James Tyler as a director of the bank. Mr. Tyler is an attorney with Hammer, Matthias, Tyler and Levin in Newton, with offices in Kellogg and Sully. Minnesota News Bankers attending the nine district meetings to be held by the Minnesota Bankers Association September 15-24 at seven locations throughout the state will have an opportunity to endorse candidates for the top elective offices in the M BA for 1976-77. The recommendations list C. Paul Lindholm, senior vice presi dent, Northwestern National Bank, Minneapolis, for president; G. A. (Gene) Beito, president, Northern Mark Christen Assistant Cashier Bank on LeaseAmerica! LeaseAmerica has developed a program that can add a much needed service to your bank, leasing. LeaseAmerica offers a program that requires no additional people to your forpresent FRASER staff. Digitized https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C all me toll fre e . . . 800 332-5991 - Merchants ^ National Bank 151 C edar Rapids. Icwa 52401 Banco MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION CLINTON: Robert J. White, an employee of First National Bank since 1938, has been advanced from vice president and cashier to senior vice president. 9M S i i t i A B A N K S OF IO W A BA N K State Bank, Thief River Falls, for vice president, and Richard Carlander, president of the State Bank of Faribault, for treasurer. Mr. Lindholm, currently M BA vice president, would succeed John D. Chisholm, president, Marquette Bank and Trust Company, Ro chester, now serving as M BA president. The program and locations for the district meetings appears in the September Northwestern Banker. GRAND RAPIDS: Tim Bischoff, associated with First National Bank since 1969, has been elected assistant vice president. Tom Gigliotti, who joined the bank one year ago, has been elected operations officer. MINNEAPOLIS: Mrs. Francis Healy Naftalin has been elected a director of the First National Bank. She is co-chairperson, with 9th Fed President Bruce MacLaury, of the Commission on Minnesota’s Fu ture, and is active in a number of civic affairs. Her husband, Arthur Naftalin, is a former Mayor of Minneapolis. Illinois News Illinois Gov. Daniel Walker has signed into law two anti-redlining bills. A disclosure law requires banks and thrift institutions in counties with more than 100,000 population file reports of mortgage lending semi-annually with the Illinois Department of Financial Institutions, and for the reports to be available to the public at the Your bank can earn a fee for referring a lease customer. The fee. based on a percentage of equipment cost, is paid when the lease agreement is completed. The fee can be substantial and the transaction has no recourse to the bank. If your bank can use the depreciation and tax benefits available from leasing, this plan is for you. A participation agreement is prepared with the bank and LeaseAmerica each owning a mutually agreeable portion of the equipment. The depreciation and tax benefits accrue to both parties in the same portion of participation. Income and expenses, plus any residual benefits are also shared proportionately. LeaseAmerica is paid a commensurate fee for providing documentation, servicing, statement mailing, and remittance of funds to the bank. Contact LeaseAmerica today for more information regarding the aforementioned or regarding equipment for your bank. LE A S E A M E R IC A John R. Cornwall, Marketing Director LeaseAmerica Corporation 2(H) American Building Cedar Rapids. Iowa 52401 ELECTRONIC DEPOSITS ARE COMING! Our U. S. Air Force payroll is now being paid via electronic deposits in four Fed eral Reserve districts, with more coming soon. Also, the direct deposit of Social Security payments which began last December, is now being expanded to all 50 states. Be ready. Sign up today! Don’t have the necessary sign-up forms? Call MACHA now (816) 474-5630 Mid-America Automated Clearing House Association 906 G R A N D A V E N U E • SU ITE 530 • K A N S A S C IT Y , M ISSO U R I 6 410 6 • (816) 474-56 30 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ORTI ¡STERN vo Send Your News Today to the NORTHWESTERN BANKER TELL US A B O U T . . . 306 Fifteenth Street DES MOINES, IOWA 50309 r^ ?r P r * ¡É * • f- BANK .... o OFFICER r CITY ..... https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis k '- Staff Changes Business Campaigns Mergers, Consolidations New Departments at the Bank Remodeling or New Building Open Houses Anniversary Parties Deaths or Retirements Speeches Made by Bank Officers Special Announcements to the Public https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CALL ON THE “PERFORMANCE TEAM199 where comm on transactions are handled uncommonly well. FIRST NATIONAL LINCOLN 13th & M Street • Lincoln, Nebraska 68501 • Member, F.D.I.C. offices of these institutions. An anti-discrimination law pro hibits mortgage lenders from deny ing or imposing varying terms of a loan based on the geographical location of the property, or the child-bearing capacity of the loan applicant or loan a pplica n t’ s spouse. Mortgage lenders cannot refuse a loan without considering “ all regular and dependable income from each person responsible for repayment of the loan.’ ’ A lender can decide not to grant a loan, but the applicant can file a lawsuit if he or she feels discrimination played a part in the decision and, if upheld, collect damages. STERLING: Wallis Adell has been appointed trust officer of the First National Bank. South Dakota News ESTELLINE: David Johnson has joined the Farmers State Bank as ^executive vice president. A native f Estelline, he has been with the Underwriters Adjusting Co. He has been in banking at the Farmers State Bank and the Valley National Bank, Sioux Falls. Peoples Bank invites you to join a festive 14-day autumn Caribbean cruise Visit 8 enchanting ports: PORT-AU-PRINCE, Haiti WILLIAMSTAD, Curacao LA GUAIRA, Venezuela BRIDGETOWN, Barbados CASTRIES, St. Lucia POINTE-A-PITRE, Guadeloupe ST. TOMAS, Virgin Islands SAN JUAN, Puerto Rico Sail from Port Everglades, Florida, November 8th on the luxurious Norwegian cruise ship Sagafjord. Experience the special excite ment and romance sailing on the high seas, while you enjoy the elegant accommodations, gourmet cuisine and incomparable ser vice of a great ship dedicated to your pleasure. B R A N C H IN G ..................... [Continued from page 1] May, 1974, is the first comprehen sive review of the Office of the Comptroller of the Currency in its 112-year history. After reviewing the Office’s current policies, prac tices and procedures, Haskins and Sells developed the following major recommendations: The examination and supervision function will be updated with more emphasis on reviewing, analyzing and evaluating bank management decisions and less on performing detailed verification procedures. Send fo r a colorful detailed brochure: Peoples Bank and Trust Company Box 1887 Cedar Rapids, Iowa 52406 Examination techniques will be applied with greater emphasis on banks with problems relating to soundness or liquidity. An early warning system, known as the National Bank Surveillance System (NBSS) will be established to identify changing situations in the banking industry and in individual banks. This system will encompass certain modifications in reporting by banks to ensure uniformity and timely availability of the data. In the corporate regulatory function area, recommendations include transferring to the 14 regional offices som e o f the Colorado News DENVER: Neil King, 64, vice president, First National Bank, has retired after 48 years with the bank. He served in the correspondent bank department and in the advertising and public relations department. SA LE OR L E A SE Two section modular bank office 24’ x 38’. Could be used as permanent office. Will m ove and install on your foundation. For additional information, Call: 1-515/276-8391. When it comes to helping you w ith your overlines, none of the others come close. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis united missouri bank of kansas city, n.a. Telephone 816-221-6800 6 Call our Bond Department For up-to-the-minute, accurate information a s * w C om m erce Bank of Kansas City '10th and Walnut (816) 234-2000 9 Thomas L. Steffens Asst. Vice President 234-2462 • John H enderson Bond O fficer 234-2463 D ennis Lewter Bond O ffice r 234-2674 Member FDIC FOR SA LE CAN A LEASEBACK CREATE CASH? If your custom er is long on equipm ent but short of cash, a LeaseBack may be the answer. Let us explain the Bankers P articipating LeasePlan. High-yield for y o u ..... and ...... we take the risk! FIRST INSURED SERVICES 545 31st St. - Des Moines, Iowa 50312 - 515/282-5008 R. L. “ DICK" SELLON P. D. “ DUANE” DeVAULT responsibilities currently assigned to the Washington office, thus permitting the Washington office to concentrate on overall policy decisions. The corporate function relates to such a ctivities as charters, branches, mergers , con versions, capital changes and name and location changes. BANKERS PERSONNEL, INC. W ANTED The following positions are available: WANT ADS BANK MGR.—Experience in mgmt. and all lending functions. $6MM bank. $17,000. Job #658 CASHIER—Responsible for all operations in $30MM bank. Must be familiar with lending. $17,000. Job #672 COMMERCIAL & AG LENDING—$35MM bank in pro gressive farming area. $17,000. Job #669 MORTGAGE LENDING—Experience in large commer cial real estate projects. Located in major metro area. $22,000. Job #670 MARKETING DIRECTOR—Experience in marketing, advertising and sales promotions. $100MM bank. $20,000. Job #668 Rates 35 cents per word per insertion. Minimum: 12 words Contact us In complete confidence regarding these and other employment opportunities. POSITION W A N T E D BANKERS PERSONNEL, INC. Person, age 35, with 8.years experience in loans and sales finance and held licenses for insurance sales and investment notes in Nebraska for years 1973-74. References available. Will relocate -preferably in southeastern Nebraska area. Married and 2 children. Write Box MFK, c /o NORTHWEST ERN BANKER, 306 15th Street, Des Moines, Iowa 50309. 245 Marquette Avenue Minneapolis, Minnesota55401 (612) 338-8111 SERVING PROFESSIONALLY Bonking, Finonciol & Business Personnel Iowa and Nationwide CAPITAL PERSONNEL SERVICE 204 Securities Bldg. 515— 283-2545 Des Moines, Iowa 50309 FOR SA LE NCR Class 450 - 28 Pocket Proof Machine. Under continuous service contract, nine years old. Contact: Merlyn L. Meyer, The First National Bank, Syracuse, Nebr. 68446. Phone: 402/269-2145. POSITION A V A IL A B L E City correspondent has excellent op portunity for person with some banking experience. Some travel required. Send resume in confidence to Box BXL, c/o NORTHWESTERN BANKER, 306 15th St., Des Moines, Iowa 50309. Single male, 24, three years college, accounting and finance. Experience in accounting. References available. Will relocate permanently—preferably neai; college or university. Write: Douglas R. Howe, 106 Sunset Drive, Rock Falls, 111. 61071. POSITIONS AVAILABLE DATA PROCESS—Need junior & senior programmer with bank experience. Midwest. 1 CORRESPONDENT-AGRI-LOAN—Unusual opportun ity for one capable of handling large agri credit lines and correspondent experience. CORRESPONDENT-COMMERCIAL LOANS— Must have experience in large credit lines, including agri loans and prefer some correspondent experience. COMMERCIAL LOAN—Prefer 3-5 yrs. experience in Iowa and Nebraska. EXECUTIVE VICE PRESIDENT—Iowa & Nebraska banks. Must be mature and experienced In commer cial loans. CASHIER — Must have 2-3 yrs. operations & supervisory experience. Opportunity to learn com mercial lending. AGRI-LOAN DIVISION HEAD— H olding company wants to expand agri-loan and create new division. AGRI-LOAN—Must have good ag education & be able to talk the language of young farms & feeders. Box 12346 N.K.C., Mo. 64116 (816) 474-6874 BANKS FOR SALE lla■■■lB■■la B ankers Trust Use our toll free W A TS line: 8 00 -3 6 2 -1 6 8 8 POSITION W A N T E D BAN K IN G TR AIN EE TOM HAGAN & ASSOCIATES Assistant Vice President wants to build a solid correspondent banking relationship with you. Bank in Iowa or northern Illinois up to $35MM Principals only. Write Box MPC, c /o NORTHWESTERN BANK ER, 306 15th Street, Des Moines, la. 50309. “IT TAKES A BANKER TO KNOW ONE” Don Carmody, P Social security direct deposit film strip and cassette for Dukane A-V Matic viewer. Eight programs left. Excellent for in-house training or sign-up seminars. Cost is $30. Contact John Brewer, Iowa Trust & Savings Bank, Centerville, Iowa 515/856-6375. 6th & Locust/ Des M oines, Iowa 50309 W rite or Call: J. Mason Henry, President CHARLES E. WALTERS CO ., INC. P. O. Box 1313, Omaha, Nebr. 68101 Phone: (402) 553-6400 V ol. 4 N o. 19 Northwestern Banker N ew sletter is published weekly by the Northwestern Banker Company, 306 Fifteenth Street, Digitized forDFRASER es M oines, Iowa 50309. Subscriptions 25 cents per copy, $6 per year. Second class postage paid at Des Moines, Iowa. Address all https://fraser.stlouisfed.org mail subscriptions, changes of address (Form 3579) manuscripts, mail items to above address. Federal Reserve Bank of St. Louis
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