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Northwestern Financial Review, Jun 1-Jun 14, 2005

* More than 1,450 Bank One signs in Wisconsin came down last month as the bank adopted the retail and commercial banking brand "Chase." The change came as a result of last year's merger of the parent companies, Bank One and JPMorgan Chase. Bank One/Chase operates 74 branches in Wisconsin.

* Bank secrecy Act seminars presented by the FDIC's Ashley Schrag attracted 167 Minnesota bankers over two sessions. Voyager Bank in Mankato hosted the May 10 session, and the Bank of Elk River hosted the May 11 session. The seminar covered money laundering, the Bank secrecy Act, Office of Foreign Asset Control, USA Patriot Act and Suspicious Activity Reports. The sessions were offered through a joint venture between the Independent Community Bankers of Minnesota and the Center for Financial Training.

* Six bankers began three-year terms on the Nebraska Bankers Association board of directors at its recent convention. They are: Joyce Douglas, Farmers Bank, Lincoln; James Hansen, Centennial Bank, Omaha; Doug Heim, American National Bank of Fremont; Kendell Holthus, Cornerstone Bank, York; Richard McGinnis, Home Federal Savings & Loan Assoc. of Nebraska, Lexington; and Michael Minert, Pender State Bank.

* The Nebraska Bankers Association is advocating the Rural Economic Investment Act, federal legislation which would amend the internal revenue code of 1986 to exclude from gross income interest received on loans secured by agricultural real property. The bill (S. 238 and H.R. 399) would benefit family farmers and rural homebuyers by allowing banks to exclude the income they receive from mortgage loans they make to family farmers and certain rural homebuyers. By excluding federal taxes on these loans, banks will be able to offer financing at a lower interest rate. NBA says lower interest rates will help hard-pressed family farmers keep their farms, and will help more people achieve home ownership. NBAs George Beattie is encouraging bankers and trade association executives throughout the Midwest to advocate for it.