MUSCATINE, Iowa – CBI Bank & Trust has a new leader at the helm after Dwayne W. Sieck, the bank’s president, was appointed as CEO of the bank and as CEO and president of its parent company, Central Bancshares.
In a news release today, Jan. 7, CBI announced the bank’s board of directors at its Dec. 19, 2024, meeting elected Mr. Sieck to the board and appointed him CEO, effective Jan. 1, 2025.
He succeeds Gregory J. Kistler, who retired from CBI Bank & Trust, effective Dec. 31, after more than 28 years of dedicated service.
Mr. Sieck most recently served as CBI Bank president, a position he held since being hired in January of 2024. At the time, CBI announced he would be Mr. Kistler’s successor.
In addition, the CBI release said Mr. Sieck was elected by the board of directors at Central Bancshares, Inc. to that board and appointed as its president and CEO, also effective Jan. 1.
“I am honored to lead CBI Bank & Trust at such an exciting time,” Mr. Sieck said in the release. “I look forward to working closely with the board, leadership team, associates and clients to build on the company’s strong foundation and drive future growth.”
Mr. Sieck brings more than 27 years of experience in the financial services industry with a focus on banking, investments, and commercial real estate. He completed his second three-year term on the Kansas City Federal Reserve Bank Board as a bank director for the Omaha branch in 2023.
He also served nine years on The University of Northern Iowa’s Real Estate Advisory Council, including three years as the chair. Currently, Mr. Sieck serves on the Iowa Bankers Association Advocacy & Policy Committee and on the Greater Muscatine Chamber of Commerce & Industry Board of Directors.
“We are thrilled to elect Dwayne as our new CEO of CBI Bank & Trust and President & CEO of Central Bancshares, Inc.,” Daniel Stein, board chairman, said in the release. “Dwayne’s strategic vision, passion for innovation, and deep understanding of the financial industry make him the ideal leader to guide CBI Bank & Trust into its next chapter.”
CBI Bank & Trust and F&M Bank, a division of CBI Bank based in Galesburg, Illinois, serves approximately 50,000 consumers and businesses through 24 branches. Total bank assets exceed $1.5 billion, making it one of the largest locally based banks in the market area and in the top 10-15% of Iowa banks.
After acquiring the former Moline-based SENB (Southeast National Bank) in October of 2023, CBI operates branches in Bettendorf, Buffalo, Coralville, Davenport, Kalona, Muscatine, Walcott, Washington, and Wilton in Iowa; in Brimfield, Buffalo Prairie, Galesburg, Joy, Moline, Monmouth, Peoria, and Roscoe in Illinois, and Beloit, Wisconsin. Its Trust and Investment divisions manage combined client assets of more than $1.4 billion.
