Farrar shifts from governor to rural bank owner in midwest
Former South Dakota governor Frank Farrar now runs about 25 rural banks, many bought at fire sale prices amid non performing loans. He has kept a core of 15 while buying and selling across states from Minnesota to Montana, with holdings including Fulda State Bank, First National Hastings and LeRoy. Farrar says digging into rural banking is his specialty despite critics.
MENTIONED IN THIS ARTICLE
Tony Kennedy
Prose Britton
M.D
South Dakota
Frank Farrar
Farrar
Gersailes
Wolf Point
Mont
Gene Hawk
Pierre, S.c-Based
Performance Bankers’ Inc
Minnesota
Fulda State Bank
First National Bank of
Hastings
LeRoy
Cede Vfeoce Ifom Anesneny
Norwest Corp
Hawk Sa Mn
Sandra Winters
Hastings, Minn
Fulda
Minn
Hawk
Farrar builds banks and bets on lean operations in rural towns
Farrar, a South Dakota lawman turned banker, leads a private buyout group owning 25 banks under 13 charters. He pursues steep returns via disciplined lending, lean staffing, and community re sales, citing regulators' discouragement of private ownership and a focus on cash flow over collateral. He flies between distant branches and has a record of turning troubled banks profitable through internal reform and careful balance sheets.
Small business meeting slated in Des Moines Friday
A conference on small business issues organized by the Iowa Small Business Advisory Council and the Iowa Department of Economic Development will be held Friday at the Des Moines Convention Center. The event aims to define issues, raise awareness among policy makers, and recognize contributions to Iowa's economy. voting is limited to small business owners. Pre-registration is encouraged with on site registration allowed. Topics include mandated benefits, taxes, workers compensation, liability insurance, fair competition, and financing and assistance programs for small businesses. Twenty nine Iowans will serve as moderators resource persons and recorders. For more information call the Iowa Department of Development at 800 532
MENTIONED IN THIS ARTICLE
Des Moines
Des Moines Convention Center
Iowa Small Business Advisory Council
Iowa Department of Economic Development
Iowa
Sles
Iowa Department of Development
Gasoline prices dip slightly vs larger future cuts expected
The Lundberg Survey finds the national average gasoline price fell by a tenth of a cent in two weeks to 100.56 cents per gallon, with self serve prices mainly down and wholesale crude slipping, signaling bigger cuts to come.
MENTIONED IN THIS ARTICLE
Lundberg
Trilby Lundberg
Chicago
American Petroleum Institute
East Coast
Rockies
This Week Watch for Economic and Meeting News
Veterans Day observed with many offices closed while markets stay open. Reports expected on September merchandise trade, October retail sales, the producer price index, and early November auto sales. Local business meetings include CAMSOC and ABWA events with speakers on motivation, aviation future, and dress on the job. New York money rates and Treasury figures follow Friday market close.
MENTIONED IN THIS ARTICLE
NEW York
Telerate Systems Inc
Telerate
Federal Funds
Finance ‘Company
Bankers Acceptances
Treasury
Also Mentioned on This Page
Britton
Ms. Winters
North Dakota
Lynwood Oyos
Augustana College
Sioux Falls
D.M
IBM Displaywriter
Word Processing
Tual
Cimmunication Services OF
P.O
Hiawatha
Midwest
Gulf Coast
West Coast
Administrative Management Society
Charlies On
Sally Eggleston
Banks of Iowa Computer Services
Cedar Rapids Consumer Credit Association
Longbranch
Cedar Rapids
William Rankin
CRMA
Aviation
Criabwa
American Business Women’s Association
Sirlein 'N Brew
Carol Thurness
Lucille Bolton
Society of Manufacturing Engineers
American Business Women's Association
la- Donie Helm
Teleconnect
Eastern Iowa Personnel Association
Sheraton Inn
Cafetceria
David Carroll
Ruth Lee
M.L. Smith Associates
Rockford
Bob Hupp
Village Inn
State University of Iowa
American Society For Quality Control
Iowa City Holiday Inn
J. Kevin Little
Madison, Wis
Experi
Ments and the Popcorn Factory
New England
Wesiale Mall
M_B.A
Mary McDowell
Jermerican Federal
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