Home improvement loan minneapolis

Notes, news and views on community banking

Minnesota ag banker honored

While accepting the American Bankers Association's Bruning Award, Minnesota banker Paul Lindholm said he was surprised by the honor. The 76year-old chairman and CEO of security State Bank, Fergus Falls, enjoys a long career in agricultural banking and he shared the credit for his success with the people who helped him along the way, including the staffs of the banks with which he's been associated. "My parents taught me about hard work and helping others," Lindholm said to the large audience that included his wife of 56 years, Ruth, and his four children. "People often ask me 'how is the world treating you?'" Lindholm remarked. "I tell them, 'better than I deserve.' I consider this award a gift from God for which I'm very grateful."

Iowa banker lauded for court skills

Charlie Funk, president and CEO of Iowa State Bank & Trust Company, Iowa City, was recently inducted into the William Jewell College Athletic Hall of Fame. Funk was honored for his contributions to the Cardinal basketball squad, including posting the most points scored in a single game (49) and most consecutive games scoring in double figures (85). Those records stand today.

"I truly enjoyed my time at William Jewell, and playing basketball was a big part of my collegiate experience," Funk commented. "I learned a lot about teamwork through my athletic activities and those lessons continue to serve me well in my role at Iowa State Bank."

Funk graduated magna cum laude from the Liberty, Mo., liberal arts college with a degree in business administration. Iowa State Bank & Trust Company is a $531 million institution with five locations.

Bremer begins re-branding ATM network

Bremer Bank, St. Paul, Minn., has begun the process of updating its entire ATM network that spans across Minnesota, North Dakota and Wisconsin. The updated ATMs will include enhanced security features as well as additional graphics and logos that aid the bank in adding future technology and services. The bank currently operates 204 ATMs in Minnesota, 64 in Wisconsin and 32 in North Dakota.

"This project is a terrific opportunity to create more distinctive and accessible ATMs while enhancing ATM security," said John Childs, a bank vice president.

The bank estimates the project will cost approximately $3 million and be completed by December 2005. The new look ATMs will include Bremer's corporate color, blue.

Federal Reserve Banks stay atop payments evolution

The Federal Reserve Banks, through Federal Reserve Financial Services, announced two milestones in service delivery:

* On Oct. 28, the Federal Reserve Banks began successfully clearing checks electronically as images and creating and presenting substitute checks. In Check 21-related services, the bank reports its first FedForward customer deposited a paper cash letter for conversion to images and substitute checks. Later, another FedForward customer deposited the first image cash letter.

* The Fed recently announced general availability of FedLine Advantage - a new access method to the banks' financial services, including electronic payments, that utilizes web technology. "The progression from DOS-based FedLine access to access using web technology is the result of experience, research and consultation with customers and industry groups," said William Barouski, FedLine product manager. The Federal Reserve Banks began testing the conversion process in February, although Barouski said they've been working toward developing access to its services through web technology since 2001. Improvements in the user experience include a familiar browser interface, personalized access to financial services, online help and an onsite mailbox that will provide alerts and announcements.

Nebraska banker says Rabobank deal may force change

Even after the board of Farm Credit Services of America, Omaha, Neb., rejected Rabobank's acquisition bid, opinion has swelled on the role of the Farm Credit System. A reporter for the Omaha World-Herald caught up with Nebraska banker Matt Williams, Gothenburg State Bank, and asked the fourth-generation banker to throw in his two cents. "There's not going to be status quo after this," Williams said in an interview published in October.

"The Rabobank purchase offer may wake up rural communities, Congress and banking interests," he added. "At least there's a possibility for some change. Before this, it hasn't gotten that much attention."

Extras...

* Michael Firestine, who presided over the American Bankers Association's ag conference in Minneapolis last month, was able to cull a bit of humor from Michael Osterholm's prediction that pandemic influenza may kill 177 million people worldwide in one year (see page 12). "I now know I have enough money to last me the rest of my life," the Pennsylvania banker quipped.

* Home State Bank, Litchfield, Minn., was recently acknowledged by the Minnesota Housing Finance Agency with an award for outstanding lending in the area of home improvement. The state agency launched its "Home Improvement Loan Program" in 1976, and the rural bank has participated every year since. In 2004, the agency said the bank's production of 50 loans proved its commitment to providing affordable home improvement financing in the small and rural communities it serves. The $87 million bank actively promotes MHFA loans through promotions and with local contractors, sometimes providing the only funding option, the agency said.

* The Iowa Mortgage Association recently honored Duane Swartzendruber, Peggy Doerge, Jeff Nielsen, and Christine Fehlberg for outstanding mortgage production performance. All four bankers work at Iowa State Bank & Trust Company, Iowa City.

* Precision Computer Systems has landed another big account: Columbia Bank, a $1.9 billion state chartered bank in Washington. A subsidiary of Columbia Banking System, Inc., the bank has chosen the PCS Vision system to replace its existing core processor.

* Gateway Bank has moved into an 8,000-square-foot building in Mendota Heights, Minn. The new bank, which opened last January, hired HTG Architects of Eden Prairie, Minn., to design and construct the facility. The building is part of the Mendota Heights Town Center. John Schreier and Bruce Downey are CEO and president of the bank, respectively.

* Pentegra Group, a provider of retirement programs, has changed its name to Pentegra Retirement Services. The 60-year-old company is based in White Plains, N.Y.

* First National Bank of Omaha, Neb., has joined the Endpoint Exchange Network. "The bank will realize dramatic reductions in operational and transaction costs, greater control over returned items, and reduced fraud," said Russ Oatman, senior vice president and division head at First National Bank. The Endpoint Exchange Network enables U.S. financial institutions to clear their check-based transactions by allowing for the exchange of check images between member institutions.