Bank Iowa Names Jason Herrboldt President/CEO as Jim Plagge Announces Retirement in Bank’s 50th Year
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Kelly Moore (for Bank Iowa)
515-720-9670
kelly@kmprcollective.com
(West Des Moines, Iowa – April 29, 2026) — Bank Iowa today announced that Jason Herrboldt will become president and chief executive officer, as longtime leader Jim Plagge plans to retire after more than a decade in the role. The leadership transition comes as the family-owned bank marks its 50th year.
Plagge, who has served as president/CEO since 2012, will remain in a leadership role with the bank’s holding company during a short transition period to support Herrboldt and ensure continuity.
Herrboldt brings more than 25 years of banking leadership experience across commercial, retail, agriculture, mortgage and wealth management. He has led teams in both rural and metropolitan markets, most recently serving as Chief Banking Officer at First Bank & Trust in South Dakota.
Known for building high-performing teams and driving growth, Herrboldt has led initiatives that expanded product offerings, improved earnings and unified organizations through periods of change.
“What stands out to me about Bank Iowa is its culture and the strong commitment to community, rooted in its family ownership and especially reflected in its support of farm families and businesses across Iowa,” said Herrboldt, who grew up on a family farm in eastern South Dakota. “That stewardship mindset has shaped who the bank is today, and I look forward to building on that legacy to help shape the next 50 years.”
Plagge said Herrboldt’s leadership style and values made him a natural fit.
“Jason’s journey, from his rural roots to leading in community banking, reflects a deep, authentic connection to people and communities,” said Plagge. “He recognizes that what we’ve built at Bank Iowa is something to be honored and strengthened. His commitment to earning trust, practicing accountability and applying a ‘one team’ mindset makes Jason the right leader to carry our purpose forward.”
During Plagge’s tenure, Bank Iowa grew from $1.1 billion in assets in 2012 to more than $2.4 billion today, while maintaining its focus on its community-first approach.
Under his leadership, the bank:
In 2025, Plagge also led the acquisition of IPE 1031, strengthening the bank’s ability to support generational wealth transitions for farm families, landowners and business owners. Following his retirement, he will continue supporting IPE 1031 as the company’s managing director.
With more than four decades of banking leadership in Iowa, Plagge has logged thousands of miles across the state through his work with Bank Iowa and as board chair of the Iowa Bankers Association. In retirement, he looks forward to covering that same ground in a new way. An avid cyclist and devoted RAGBRAI rider, Plagge and his “Team Bad Music” teammates are a familiar sight on Iowa’s country roads and bike trails.
Along the way, Jim has consistently led all team members in community service hours donated annually — an achievement he never highlights, preferring to celebrate the contributions of others.
“Jim’s impact goes far beyond financial growth,” said family owner and Board Chair Paige Duncan. “He built a strong leadership team and a culture that will carry Bank Iowa forward for years to come. His commitment to our communities, team members and clients has shaped who we are, and his leadership has positioned the bank for a smooth and successful transition. We’re deeply grateful for the foundation he’s built and excited for what’s ahead.”
About Bank Iowa
With more than $2 billion in assets, Bank Iowa ranks as one of the leading independent ag banks and the second-largest family-owned bank in the state. Farmers, families, and businesses access Bank Iowa’s products and services through more than 20 locations, as well as online and on mobile devices. To learn more, visit bankiowa.bank. Member FDIC. Equal Housing Lender.
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