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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- ASK JERRY TRUDO to make MNB work for you. Toll free: 1-800-332-5991 hants National Bank isi F.D.I.C. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A BANKS OF IOWA’ BANK 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. 2 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 the 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. I Bankers Trust There Is A Difference In Banks... For Professional Correspondent Service Call 1-800-622-7262 H. PETER De ROSIER Vice President Valley National Bank ni https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Main Office-Sixth and Walnut D ES MOIN ES, IOWA 50304 A BANKS OF IOWA BANK 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 Springfield. . • Bond portfolios 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. lb • https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis U N ITE D M ISSO U R I B A N K M c of Kansas C ity, n.a. P.O. Box 226 Kansas City, Missouri 64141 Supplement to Northwestern Banker Newsletter 9-8-86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ATTENTION IOWA BANKERS PROBLEMS WITH YOUR BLANKET BOND? ARE YOUR UNDERWRITERS DEMANDS EXCESSIVE? We have been able to solve many bonding problems for bankers at the lowest possible premium. Call or Write THE KANSAS BANKERS SURETY COMPANY 435 Kansas Avenue P.O. Box 1654 Topeka, Kansas 66601 1-913-234-2631 Serving bankers for more than 75 years https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Supplement to Northwestern Banker Newsletter 9-8-86 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 C all on th e “ Experienced P rofessionals” Ready to m eet your correspondent needs. Minnesota News ^ 9 ^ ^ 0 0 0 0 # ^ ® _ ® 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ^EFirsTierBank Lincoln -13th & M Streets, Lincoln, Nebraska 68501 Wisconsin News MENOMONEE FALLS: F&M Fi 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 information. 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 : 1-800-772-2411 W R IT E : LeR oy Bell The National Bank o f W aterloo RO. Box 90, Waterloo, IA 50704 POSITIONS AVAILABLE FINANCIAL CAREERS 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 GUMBERT EXECUTIVE EXCHANGE, INC. 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 POSITIONS AVAILABLE FOR SALE $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. (PA) $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._______________________________ (PA) $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 Banker. (PA) 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. (PA) 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) CANDIDATES AVAILABLE CONSUMER LENDER Com petitor! 2 + yrs in aggressive consumer finance co at tacking the market. W ell-trained & goal-directed. $18K. CHIEF EXECUTIVE OFFICER 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 munity. $58K. SR COMM’L LENDER 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. $48K. BANK AUDITOR 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 ties. $21K. FOR FURTHER INFORMATION CONTACT KURT ROSENCRANTS i MI M1 M1 M M ® R O B B R T MffBLF 3176th Ave, Ste. 650 Des Moines, IA 50309 (515) 244-4414 ALL FEES COMPANY PAID RECONDITIONED BRANDT Coin Sorters-Counters BRANDT Currency Counters New Warranty 402-571-5577 1010 Equitable Bldg. Des Moines, IA 50309 515/282-6462 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 Collections 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 515-243-8064 Specializing in Bank Acquisitions 515-232-0814 P.O. Box 450 405 Main Ames, Iowa 50010 D o n a l d E . H o l d e r , Principal POSITIONS AVAILABLE CONSUMER LOAN MGR 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. BRANCH MANAGER 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 involvement. To $40K. Job #NW8995. PRESIDENT 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! To$50K. Job#NW8996. FOR MORE INFORMATION CONTACT PAUL GENTZROW INVESTIGATIONS FEDERAL DEPOSIT INSURANCE CORP. 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 m 3636 IDS Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID POSITIONS AVAILABLE CASHIER ■$25MM Ag Bank. Requires background w ith inhouse minicom puters and some knowledge of Agri Loans. $30K 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. $38K AGRI LOAN - com m unity bank w ith large Ag portfolio. Seven yrs. or more Ag Lending experience needed. $35K COMMERCIAL LOAN - large suburban bank with $100MM loan portfolio. Degree and minimum 3 yrs. comml lending experience with six figure credits. $32K Additional positions available in Midwestern states. TOM HAGAN & ASSOCIATES 2024 S w ift - Box 12346 North Kansas City, MO 64116 816/474-6874 “ 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 St.,FRASER #201, Des Moines, Iowa 50309. 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