Bank Iowa, which has a branch in Humboldt, 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.

“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.”

During Plagge’s tenure, Bank Iowa grew from $1.1 billion in assets in 2012 to more than $2.4 billion today, while maintaining focus on its community-first approach.

Under his leadership, the bank:

• Expanded lending and deposit portfolios by more than $1 billion each

• Achieved record net income in 2025

• Modernized its core banking platform

• Expanded its footprint through new locations and acquisitions

Launched the Bank Iowa Foundation and fostered a culture of giving with team members donating a collective 12,000 volunteer hours each year

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.

“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.”