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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 10, 1987
Page
11
Norwest Bancorp plans to acquire Peoples Bank expanding to about 350 million in assets with eight Cedar Rapids offices. Existing Peoples executives to stay. Norwest Marion becomes a Peoples office. several branches to close to meet metro limits. Analysts call the deal a good strategic fit for both banks.
Norwest Corp announces a proposed merger with Peoples Bank and Trust Co as a letter of intent. Norwest Iowa assets total 2.39 billion with 11 banks and 60 offices while Peoples holds 260 million in assets with seven offices. Target completion in Q1 1988 pending approvals.
The article notes regional banking is viewed as the future with Norwest exempt from state bank ownership limits due to prior Iowa bank ownership. It highlights Peoples Bank in Cedar Rapids with a long history, a 1910 main building by Louis Sullivan, and a holding company formed in 1982. Norwest Bank Marion traces to 1863 and 1978 merger. Key leaders include John Sayers and Don Ellis among senior management.
The Iowa teen health survey shows AIDS as the top concern among youths, with 51 percent very concerned. Lane notes broader risks like substance abuse and obesity still persist, while media coverage may shape attention. 92 percent view their health as good to excellent, yet 7 to 10 percent feel seriously low in spirits.
A humanitarian stance by the pontiff is reviewed as 31 percent label him a global voice beyond the Catholic Church. Polls show 48 percent of American Catholics feel the church is out of touch with their needs while 43 percent disagree. A majority say the church should change some teachings to reflect Catholic opinion, with 58 percent in favor and 36 percent opposed. Age splits show older Catholics favor conservative stances. younger Catholics lean liberal on issues from sex to female ordination. Despite differences, 50 percent see the pope as more conservative than they are on social issues, and 47 percent agree on morality.
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