Spare Change: A Small-Town Institution Finds that the Post Office Still

Who says the U.S. Postal Service isn't efficient? In Wakefield, Kan., pop. 1,000, someone recently mailed a letter with no return address - just a stamp and the word "deposit."

Where did it end up? Farmers and Merchants Bank, of course, the only bank in town.

"That's small-town America," said Phil Barber, vice president of the $11 million-asset bank, which happens to share an office complex with the local post office. "It's happened before," he added.

And while Mr. Barber wouldn't be surprised to hear of similar occurrences in other small communities, "It'd probably be pretty hard for Chase Manhattan to even relate to what we're talking about."

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Firstrust Bank in Philadelphia came to the conclusion once again that a Green is the best person to handle its green.

The $1.3 billion-asset institution has appointed executive vice president Richard J. Green, 42, as its new president and chief executive.

He takes over from his father, 72-year-old Daniel B. Green. At the same time, brother and executive vice president Arlin S. Green, 39, has been named chief operating officer.

Daniel Green will continue to serve as chairman.

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Jonesboro, Ark., is the last place one would think communist-style workplace practices would flourish.

In the former Soviet Union, for example, it was common practice for employees to spy on one another for signs of nonconformity to report back to their officials, in return for small favors or privileges. In present- day Arkansas, employees at Simmons First Bank watch over one another, only they do it with a positive twist. They are on the lookout for instances of exceptional customer service.

They are asked to report these incidents to their superiors. The reporting employee then has the authority to reward the individual good- deed-doer with $25. The report goes into the personnel files and on the bank bulletin board.

"They're watching all the time," said Don Stone, president and chief executive of the $80 million bank.

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A Wisconsin bank trade group doesn't want your fingers walking by any credit unions in the "bank" section of the Yellow Pages.

David Glomp, executive director of the Independent Community Bankers Association of Wisconsin, wants credit unions to stop listing themselves there and advertise under headings like "credit unions" or "financial institutions."

Ralph Brunner, the state deputy commissioner of credit unions, said the two Jefferson County credit unions that sparked the latest discord have already been contacted about the issue.

His office also has asked the state's credit union association to remind its members that such actions may violate the statute.

"From time to time, you're going to have a situation where people forget," Mr. Brunner said.

But Mr. Glomp hasn't forgotten his previous complaints about similar incidents. If the listings continue, "There may be a legal action against one of these companies that likes to fly in the face of the law," he said.

Compiled by Terrence O'Hara, Jonathan D. Epstein, Barbara F. Bronstien, and Christopher Rhoads

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