CBI Bank & Trust Names Dwayne Sieck President

News Release For Immediate Use

Date: Jan 10, 2024

Re: Dwayne Sieck Appointed President of CBI Bank & Trust

Contacts: Greg Kistler, President & CEO Central Bancshares, CBI Bank & Trust, Muscatine, IA  • (563) 262-3138 •  greg.kistler@cbibanks.com

(Muscatine, IA) The Board of Directors of Central Bancshares, Inc., Muscatine, IA, parent company of CBI Bank & Trust and F&M Bank, Division of CBI Bank & Trust, is pleased to announce the hiring of Dwayne Sieck as President of CBI Bank & Trust. In addition, he will succeed Greg Kistler, President and CEO of Central Bancshares and CEO of CBI Bank & Trust, upon his retirement, effective December 31, 2024.

Sieck has been in the financial services industry the past 26 years with a focus on banking, investments, and commercial real estate.  He founded a real estate investment firm in early 2021 called Farnam Street Real Estate Capital based in Omaha, Nebraska. He previously served as the President and Chief Operating Officer of Mutual of Omaha Bank. During his 12 years at Mutual of Omaha Bank, the bank grew from $600 million in assets to nearly $9 billion in assets scaled across 17 cities and 9 states. This put the bank in the top 3% of all banks nationally by total assets. Sieck has also held positions with Principal Financial Group in Des Moines, Key Bank in Kansas City, and CIT Bank, who acquired Mutual of Omaha Bank in 2020.

Sieck earned his Bachelor of Arts degree in Finance with minors in Economics and Business Communications with an emphasis in Real Estate from the University of Northern Iowa and graduated from the Southwestern Graduate School of Banking program at Southern Methodist University in Dallas, TX.  He has also served on the faculty at the Southwestern Graduate School of Banking the past 2 academic years.

He recently completed his second, 3-year term on the Kansas City Federal Reserve Bank Board as a Bank Director for the Omaha branch. Sieck also served nine years on The University of Northern Iowa’s Real Estate Advisory Council, including three years as its Chair.

Dwayne grew up in Maynard, IA, a small farming community in northeast Iowa.  After graduating from UNI, he married to his college sweetheart, Angie (Nicholson) who grew up in Muscatine.  He and Angie have 3 children: Lauren (18), Kristen (16), and Nathan (14).

Dan Stein, Chairman of the Board of Central Bancshares, said, “Dwayne is uniquely qualified to succeed Greg, who has been our CEO since 2010. The opportunity for them to work together over the coming year will ensure a smooth transition for the leadership of our company.”

Dwayne Sieck, President of CBI Bank & Trust, said, “It is an honor to serve the communities that CBI has been serving for generations.  I am looking forward to working with such a talented and experienced team at CBI, who put our clients first.  The team clearly understands and knows that community banking, when done well, acts as the lifeblood that preserves and strengthens the health of businesses and families in our communities. Angie and I are blessed for the opportunity to return to the Pearl of the Mississippi, Muscatine, and Iowa where our roots were established.”

About CBI Bank & Trust

CBI Bank & Trust, based in Muscatine, Iowa, and F&M Bank, Division of CBI Bank & Trust, based in Galesburg, Illinois, serves approximately 50,000 consumers and businesses through 23 branches, with locations in Bettendorf, Buffalo, Coralville, Davenport, Kalona, Muscatine, Walcott, Washington, and Wilton in Iowa, and Brimfield, Buffalo Prairie, Galesburg, Moline, Monmouth, and Peoria in Illinois, as well as the state line region (Roscoe/Beloit) of Illinois and Wisconsin. In addition, the bank’s Trust and Investment divisions manage combined client assets of approximately $1.4 billion.

###END OF TEXT####