Bank Iowa names new president, CEO

Bank Iowa, West Des Moines, named Jason Herrboldt president and CEO. He will replace longtime leader Jim Plagge, who plans to retire after more than a decade in the position. .Herrboldt has 25 years of banking experience in commercial, retail, agriculture, mortgage and wealth management, most recently as chief banking officer at Brookings, S.D.-based First Bank & Trust. Plagge was named president/CEO of the more than $2 billion bank in 2012. He is expected to remain in a leadership position in the bank’s holding company following a short transition period. Plagge, who has more than four decades of banking leadership experience in Iowa, is credited with leading the bank’s growth to more than $2.4 billion from $1.1 billion when he started. He helped launch the Bank Iowa Foundation, which has led employees to donate a collective 12,000 volunteer hours annually. Last year, Plagge led the bank’s acquisition of IPE 1031, which specializes in Section 1031 exchanges. He is expected to continue as the company’s managing director.