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Des Moines, Iowa

Septembers, 1986

Experienced Loan Officers in Short Supply








E X P E R IE N C E D loan officers
E m a y be one o f the scarcest re­
sources in the field o f commercial
lending, according to a copyrighted
article in the August issue o f Robert
M orris A ssociates’ (RM A) Commercial Lending Newsletter. RM A is the
national association o f bank loan
and credit officers.
“ The need is great for experienced
lenders, but the supply is n ot,” is
how one senior-level banker in Phila­
delphia described the situation. He,
like others interviewed for the ar­
ticle, emphasized the word “ experienced.” Having at least five years
experience does not guarantee that a
person can “ make the grade,” the
article points out.
A s another banker in the article
said, “ Someone with five years ex­
perience who has been dealing with
small branch-type accounts or some­
one who has been dealing with major
national credits both may be dismal
failures if they have to service signi­
ficant size regional credits.”
The greatest need appears to be
for seasoned lenders with sales skills
who can work with middle market
custom ers, a prime target for many
banks’ current m arketing efforts,
the article continues. It also helps if
a lender’s record shows that only a
small percentage o f his loans have
been charged off.
Contrary to what many people be­

lieve, merger and acquisition activi­
ty has not increased the pool o f ex­
perienced lenders. Rather, the news­
letter article points out, when banks
merge it is the experienced lenders
who are retained. “ O ften,” said the
Philadelphia banker, “ it is the loan
officers who are the weakest who are
left out o f merger and acquisition
scenarios. The strong ones either
make out fine or are able to find job s
with other banks.”
And, though it plays a m ajor role,
salary is not the only thing that at­
tracts lenders to a particular institu­
tion. R M A ’s newsletter maintains
that other key factors include the
strength o f the bank and personal
advancement and perks, such as
club memberships, season tickets to
sporting events, and cars.
W hat is the solution to the cur­
rent shortage o f experienced loan of­
ficers? Bankers interviewed for the
article said that one way to ap­
proach the problem is to “ start at
hom e” with the training program.
As one banker put it, “ W e look at
our training program as the basic
resource for loan officers, and it can
be the best resource if the training
can be done successfully. ’ ’

Iowa News
First National Bank o f Le Mars
will host the Northwest Iowa Group

o f the National A ssociation o f Bank
Women on Sept. 10 at Archie's Waeside Inn in Le Mars. Social hour is
5:00 with dinner at 6:00 and pro­
gram to follow. 1986-87 group offi­
cers will be installed. They are: Pres­
ident—Beverly J. Jensen, vice presi­
dent and cashier, First National
Bank o f Sioux Center; Vice Presi­
dent—Sharon Johnson, vice presi­
dent and trust officer o f the Holstein
State Bank; Secretary—Ann M.
Schultz, assistant cashier o f the Le
Mars Savings Bank, and Treasurer—
Debbie Smith, custom er service
manager o f the First National Bank
o f Sioux City.
* * *
The Central Iowa Chapter o f the
Bank Adm inistration Institute will
have a m eeting on fraud towards
banks on Sept. 18 at the H otel Fort
Des Moines in Des Moines. Social
hour is at 5:30 and dinner at 6:30.
Cost is $15. For reservations contact
John W alther, South Story Bank &
Trust, Slater, Iowa 50244.
CH ARLES CITY: O. Jay Tomson,
chairman and CEO o f Citizens Na­
tional Bank, and Holmes Foster,
president and CEO o f Banks of
Iowa, Inc., Des Moines-based hold­
ing com pany, have signed an agree­
ment that B ofI will sell its Charles
City affiliate, Commercial Trust and
Savings Bank, to Citizens National.
If approved by regulators, the pur-

to make MNB work for you.
Toll free: 1-800-332-5991

hants National Bank isi
Federal Reserve Bank of St. Louis


ance Services, Inc., to Terrence J.
M ontgom ery, who was president of
the unit. N egotiations also are
underway to sell Hawkeye M ort­
gage Corporation, as well as 11 addi­
tional banks.


Nebraska News
BELLEVU E: Marvin C. Kelley has
been named president o f Tri-County
Bank and Trust Company, replacing
Lance W ise who has joined a bank in
Albuquerque, New M exico. Mr.
chase and assumption could be com ­ September 4, however, that Mr. Kelley joined Omaha National Bank
pleted in the first quarter o f 1987. Goodenow and Mr. Schneider had in 1949 and worked there for 22
Citizens National had assets at last withdrawn from their contract so years serving as vice president in
year-end o f $55 million, while Com­ the Hawkeye State Bank then was the bank’s commercial lending de­
partment. In 1973 he was named
mercial Trust had $44 million.
sold to Mr. Gerdin.
Hawkeye Bancorporation now president and CEO o f South Side
IO W A CITY: Hawkeye State Bank
was sold last week to Russell Ger- has sold five o f the 17 banks it an­ Bank in LaVista. A fter three years
din, owner o f Heartland Express, nounced in late June it would sell to he joined Packers National Bank &
Inc. trucking firm and Heartland reduce some o f the holding com ­ Trust, Omaha, as senior vice presi­
Plaza Developm ent Plaza at Coral- pany’s $100 m illion o f debt. Earlier dent in charge o f marketing.
ville, and Iowa City suburb. Mr. sales were announced for Hawkeye O G ALLALA: David L. Christensen
Gerdin said he is buying 99.8% of Bank & Trust banks in Camanche, has been elected president o f the
the stock. Terms were not released. Eldora and M ason City. The sale of Adams Bank & Trust branch in
Hawkeye State Bank at last year- Waukon State Bank was announced Ogallala. He joined the bank in 1982
end had $24.7 million assets, $23 in that com m unity last week. A and m ost recently served as execu­
million in deposits and capital, sur­ sixth sale was expected to be an­ tive vice president.
plus and undivided profits o f $1,403, nounced on September 8. Total
000. It was announced earlier (Aug. assets o f the six banks, based on
Illinois News
25 Newsletter) that Hawkeye State 1985 year-end figures, was $141 mil­
had been sold to John Goodenow of lion. Their capital, surplus and un­ MENDON: The FDIC has approved
Wall Lake, a Hawkeye Bancorpora- divided profits on the same date the assumption o f the deposit liabili­
tion director, and Ralph Schneider totaled $11,200,000. Mr. Dunlap ties o f Mendon State Bank by First
o f O koboji, a director o f Security also has announced the sale of M idwest Bank/Quincy, N .A., Quin­
State Bank o f Sheldon. Mr. Dunlap Hawkeye Bancorporation’s insur­ cy. The bank was closed on Aug. 20
told the N o r t h w e s t e r n B a n k e r on ance subsidiary, Hawkeye Insur­ and the FDIC named receiver, and
reopened Aug. 21 as a facility of
First M idwest Bank/Quincy. The
bank had total assets o f $20.5 mil­
t's easier to talk Iowa banking
lion. The Quincy bank assumed
with people who live it — people
about $18.8 m illion in 3,900 deposit
like Donald H. Jordahl and the cor­
accounts and has agreed to pay the
FD IC a purchase prem ium o f
respondent staff at Bankers Trust.
$215,010. It also will purchase cer­
tain o f the failed bank’s loans and
C all 1-800-362-1688 o r 515/245-2424.
other assets for $11.8 million. The
FDIC will advance $6.6 m illion to
assuming bank and will retain
Des Moines, IA
Donald H. Jordahl
assets o f the failed bank with a book
Member FDIC
Vice President
value o f about $8.7 million.


Bankers Trust

There Is A Difference
In Banks...
For Professional
Correspondent Service
Call 1-800-622-7262

Vice President

Valley National Bank ni
Federal Reserve Bank of St. Louis

Main Office-Sixth and Walnut

Member FDIC

ROCKFORD: Robert F. W olf and
A lfred M. W ooleyhan, Jr. have
joined AM CORE Bank N .A., Rock­
ford, as vice presidents in the comm ercial/investm ent division. Mr.
W olf has served as senior examiner
for the Federal Reserve Bank in Chi­
cago and at First Banks, Minneapo­
lis and First W isconsin Corp., M il­
waukee. Mr. W ooleyhan has served
at Illinois State Bank o f Quincy, Jef­
ferson Trust and Savings Bank,
Peoria and the Marine Bank of


working at
full power.

The performance of your bank’s bond portfolio is based on sound
thinking and quality investments. Investments that will consistently
work at full power to contribute to the earnings of your bank. Bond
portfolio recommendations have been our specialty since the 1920s,
and our track record is enviable.
Although investment vehicles and markets have changed, we’ve
maintained our high standards. The result is success for our customers
and a reputation that precedes us.
For confidential consultation about the benefits of investment
banking at United Missouri, call (816) 556-7200 today.

Federal Reserve Bank of St. Louis

M c of Kansas C ity, n.a.
P.O. Box 226

Kansas City, Missouri 64141

Supplement to Northwestern Banker Newsletter 9-8-86
Federal Reserve Bank of St. Louis


We have been able to
solve many bonding problems
for bankers at the lowest possible premium.

Call or Write
435 Kansas Avenue P.O. Box 1654
Topeka, Kansas 66601

Serving bankers for more than 75 years
Federal Reserve Bank of St. Louis

Supplement to Northwestern Banker Newsletter 9-8-86
Federal Reserve Bank of St. Louis


C all on th e “ Experienced P rofessionals”
Ready to m eet your
correspondent needs.
Minnesota News










The Minnesota Society o f Certi­
fied Public Accountants will sponsor a Financial Strategies conference on O ctober 15 at the Radisson
South H otel in Bloom ington. Regis­
tration is at 11:00 a.m. and lunch
from 11:30 to 12:10. Presentations
include “ Financial Strategies in the
80’s” by Carl Pohlad, president,
M arqu ette B ank M in n ea p olis;
“ Maintaining Insurance Coverage
in Today’s M arketplace” by Rodney
Roath, CPA, Roath & Leininger,
Ltd., W ayzata, and A1 Stendahl,
senior underwriting officer, St. Paul
Fire & Marine Insurance Co., St.
Paul; “ Strategies from the CEO’s
Perspective” by Scott James, presi­
dent, Goodhue County National
Bank Red W ing; “ Current Regula­
tory M atters Facing Financial Insti­
tutions” by James Lyon, vice president, Federal Reserve Bank, Min­
neapolis; “ M innesota Legislative
Update Relating to Financial Insti­
tutions” by John Jackson, general
counsel, M BA; “ Current Tax Matters Facing Financial Institutions”
by Dale Newland, tax counsel, Norwest Corp., Minneapolis; “ Current
A ccounting Financial R eporting
Issues” by Thomas Taylor, CPA,
Ernst Whinney, New York; and
“ View from the H ill” by Bill Frenzel, congressman from Minn., Wash­
ington, D.C. A social hour will follow
at 5:15. For more inform ation contact the Minnesota Society of CPAs
at (612) 831-2707.
ST. CLOUD: Two senior vice
presidents have been elected at St.
Cloud National Bank & Trust Co.
Michael D. W atters has been named
senior V.P. and second officer, re­
sponsible for loan administration.
He previously was senior vice president o f the Norwest Bank, Redwood
Falls. Robert J. Miller has been
named senior V.P. and cashier, re­
sponsible for operations. He joined
St. Cloud National in 1983.
Federal Reserve Bank of St. Louis

-13th & M Streets, Lincoln, Nebraska 68501

Wisconsin News
nancial Services Corporation has an­
nounced the acquisition o f Rural
Financial Service, Inc., parent of
Dousman State Bank, Dousman and
M ansfields State Bank, Johnson
Creek, has been completed.

North Dakota News
FARGO: Norwest Corp. has an­
nounced Allan M. Severson has been
named regional president o f its
Region V II. He will succeed Daniel
G. Beck, who plans to retire next
year. The appointment is effective
January 1, 1987, but Mr. Severson
will begin assuming his duties in Oc­
tober. He currently is vice chairman
o f Norwest Bank South Dakota,
Sioux Falls. Mr. Beck has been re­
gional president in Fargo since 1982.

South Dakota News
The South Dakota Bankers A sso­
ciation will sponsor a Tax Reform
Teleconference entitled “ Tim ing is
Everything” on O ctober 2, at the
Sheraton Inn in Aberdeen. Registra­
tion is from 9:30 to 10:00 a.m., and
the program until 3:30 p.m. Fee is
$120 and includes materials and
lunch—those registerin g before
Sept. 12 may deduct $15. Contact
the SDBA office.
* * *
The South Dakota Bankers A sso­

Firslier Bank, N.A., Lincoln, Member FDIC

ciation will sponsor an Agricultural
Lender W orkshop on O ct 1-2 at the
Holiday Haus in Pierre. It will fea­
ture Roy C. Ferguson o f The Fergu­
son Group. Registration on the 1st
is at 8:30 a.m., with the program
running from 9:00 to 5:30, and a re­
ception from 5:00 to 6:00. On the
2nd, the program runs from 8:00 to
4:00. Early registration is $110 and
includes workbook, two luncheons
and reception. On-site registration is
$125. Contact the SDBA for more

Montana News
G REAT FALLS: Frank W . Shaw
has been named president o f Nor­
west Bank, Great Falls. His former
position was as executive vice presi­
dent and senior credit officer at the
bank. He succeeds Dale W . Ander­
son, who has held the office for nine
years and will serve as chairman o f
the bank until his retirement Janu­
ary 1.

Colorado News
RIFLE: The FDIC has approved
paying o ff insured depositors in The
First National Bank in Rifle. It was
closed Aug. 21 and the FDIC named
receiver. No bids were received for
the failed bank. D eposits in the bank
amounted to about $17.1 million in
4,000 accounts, including about
$299,000 in 13 accounts that ex­
ceeded the federal insurance limit.

Inquire about FLEXO-PAY®
■ a com puterized billing/credit system
■ generates additional incom e from
present staff and equipment
■ means o f increasing your local
commercial business
■ plan developed by bankers for bankers

C A LL :

W R IT E :
LeR oy Bell
The National Bank o f W aterloo
RO. Box 90,
Waterloo, IA 50704



EVP - Degree plus strong commercial and some
operations experience - 20K pop. - Central West
Indiana - $200M bank. To $65K.

CEO for western Nebraska bank. Located near recrea­
tional a r e a ....................................................Salary to $45,000
TRUST OFFICER w ith employee benefit experience. JD
preferred but not re q u ire d ......................... Salary to $40,000

VP • Commercial lending - need some supervisory
experience - South Bend, IN. To $45K.

BANK AUDITOR for major eastern Iowa b a n k ....................
..................................................................... Salary to $28,000

AG LENDER - 4-5 years exp. - Central KS. W ill be
supervising 2 lenders. To $35K.

REAL ESTATE LENDER with at least 5 years experience in
sales, pricing and production. Knowledge of residential
and commercial products. Will manage Secondary Market
A ctivity ............................................................... Salary Open

All fees are paid by our client employers.
Richard L. Beam, CPC
11246 Davenport Street
Omaha, NE 68154
Phone: 402/330-3260
Member National Personnel Associates
We're Nationwide

#2 PERSON with operations & lending background for
Eastern Iowa bank .....................................Salary to $32,000
Jean 712/779-3567
Massena, la. 50853

Sandl 515/394-5827
New Hampton, la. 50659

Confidential. Employer paid fees

SENIOR LENDER for major Metro bank. Must have experi­
ence in larger bank ................................... Salary to $50,000.
LENDER w ith Ag and Installm ent background for commu­
nity bank near Des Moines......................... Salary high $20s.

Freeland Financial Service
$12M eastern Iowa bank near Iowa City has an opening for
individual w ith experience in LOANS AND OPERATIONS.
Send resume and salary requirements to File No. WGI c/o
Northwestern Banker.
$55MM bank in Western Nebr. needs experienced CON­
SUMER LOAN OFFICER to head department. Desire min.
o f 3 + yrs. consumer lending exp.; a working knowledge of
floor plans, student loans and compliance desirable.
Salary open based upon experience & background. Send
resume to First National Bank Ogallala, Box 179, Ogallala,
NE, 69153._______________________________
$10MM bank near Sioux Falls, SD wanting to expand resi­
dential Real Estate Department through the use of secon­
dary markets, needs experienced REAL ESTATE LENDER.
Send resume to File No. WGR c/o Northwestern Banker.

___________________________________________________ (PA)
CREDIT ANALYST— Immediate opening in $170MM east­
ern Iowa bank. Candidate w ill need strong background in
accounting and financing. Work w ill involve heavy use of
an IBM-PC. Prior credit analysis, bank examining, and or
loan review services are preferred. Send resume and
salary requirements to File No.WGS c/o Northwestern
VP position leading to CEO at Iowa State Bank & Trust,
Center Point, IA. Clean bank, good community, great staff.
Send letter of application and resume to W illiam R. Bernau, Box 128, Crawfordsvi Ile,IA 52621.
Ind. comm bank located in S.W. Iowa is seeking a proven
AG LENDER. Must possess good business development
skills w ith strong analytic and interpersonal skills. FmHA
experience is a plus. Key position offering excellent
growth potential. Very good community. Excellent salary
and benefits. File No. WGT, c/o Northwestern Banker. (PA)
Agricultural consulting & marketing firm looking for ex­
perienced AG LENDERS to work in the areas of financial
analysis and com modity sales management. Responsibili­
ties include analyzing client operations, development of
client marketing plans and ongoing consultations. Send
resume to File No. WGU c/o The Northwestern Banker.(PA)

Com petitor! 2 + yrs in aggressive consumer finance co at­
tacking the market. W ell-trained & goal-directed.
Dynamic take-charge leader who knows how to handle the
#1 spot. Currently running a $50m bk w/1 + ROA & minimal
classified. Family-oriented pro who would add to any com­
Built & shaped a $20m port in com petitive metro area.
Relishes challenge, problem-solving & working w ith the
hard to win customer. 8 + yrs & MBA.
3 + yrs in h/c envirnmt involved in both sta ff & in-charge
work. Hard worker, doesn’t mind travel or sm com m uni­




3176th Ave, Ste. 650
Des Moines, IA 50309

(515) 244-4414


BRANDT Coin Sorters-Counters
BRANDT Currency Counters
New Warranty

1010 Equitable Bldg. Des Moines, IA 50309
Employer pays fee.
Please contact Malcolm Freeland concerning these posi­
tions or for other banking opportunities.

c^HoCdzx an d c^hioaiatzs.
Bank Consultants

Estate Appraisals
Purchase of
Sale of Rare Coins
Reliable and respected service
for over 20 years
Used by bankers
throughout the midwest

B en E. M arlen ee
C oin s
913 Locust
Des Moines, Iowa 50309

Specializing in Bank Acquisitions
P.O. Box 450 405 Main Ames, Iowa 50010
D o n a l d E . H o l d e r , Principal

Are you ready for a management opportunity! Rapidly
growing bank in an exciting Wise, city needs Consumer
Loan Mgr. Desire 2 + yrs real estate lending. This is a
great situation w ith super upward potential.
To $30K.
Job #NW8994.

Ready to manage your own shop? Minn, bank needs take
charge m otivator to manage a $25MM facility. Desire 5 +
yrs Ag Lending exp, proven mgmt and strong community
To $40K.
Job #NW8995.

New Listing! This is your chance to call all the shots!
You’ll use your talents to manage a rapidly growing bank
and motivate the staff. Desire 7 + yrs ag lending exp,
strong loan adm inistration, and knowledge o f operations.
Ready to hire!

The Federal Deposit Insurance Cor­
poration, Division of Liquidation, is
seeking persons to conduct complex
investigations of failed banks. Incum­
bent must have extensive banking
operations background, comprehen­
sive knowledge of investigatory
methods and credit analysis to re­
view and analyze Blanket Bond &
D&O Liability insurance policies. The
FDIC offers this interesting and chal­
lenging position with an attractive
benefit package; salary to 35K. Inter­
ested parties may apply in confi­
dence by submitting a federal em­
ployment application (SF-171) which
may be obtained by mail from our of­
fice at 4700 Westown Pkwy., Bldg. 4,
Suite 200, West Des Moines, IA 50265.
Equal Opportunity Employer


3636 IDS Center
Minneapolis, MN 55402

(612) 339-9001

CASHIER ■$25MM Ag Bank. Requires background w ith inhouse minicom puters and some knowledge of Agri Loans.
PRESIDENT - Agri Bank w ith problem loans. Should have
adm inistrative experience and solid Agri Loan skills. $40K
OPERATIONS - manage department of 35 for large urban
bank. Experience w ith deposit accounting and account
services required.
AGRI LOAN - com m unity bank w ith large Ag portfolio.
Seven yrs. or more Ag Lending experience needed.
COMMERCIAL LOAN - large suburban bank with $100MM
loan portfolio. Degree and minimum 3 yrs. comml lending
experience with six figure credits.
Additional positions available in Midwestern states.

2024 S w ift - Box 12346
North Kansas City, MO 64116
“ Serving the Banking Industry Since 1970”

Vol. 15 No. 21 Northwestern Banker Newsletter (USPS 873-300) is published weekly by the Northwestern Banker Company, 1535 Linden
Street, Suite 201, Des Moines, Iowa 50309, (515) 244-8163. Subscriptions $1.00 pér copy, $18.00 per year. Second class postage paid at
Des Moines, Iowa. Address all mail subscriptions, changes of address (Form 3579), manuscripts to Northwestern Banker, 1535 Linden
#201, Des Moines, Iowa 50309.
Digitized for
Federal Reserve Bank of St. Louis