CBI Bank & Trust – which has branches in the Quad Cities, Muscatine, Galesburg and Monmouth – has announced a new president.
The company Thursday announced the hiring of Dwayne Sieck as president of CBI Bank & Trust. He also will succeed Greg Kistler, president and CEO of Central Bancshares and CEO of CBI Bank & Trust, upon his retirement, effective Dec. 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, Neb., according to a CBI release. 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’s 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, Tex.
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He has also served on the faculty at the Southwestern Graduate School of Banking the past two academic years. He recently completed his second, three-year term on the Kansas City Federal Reserve Bank Board as a Bank Director for the Omaha branch.
Dwayne grew up in Maynard, Iowa, 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 three children: Lauren (18), Kristen (16), and Nathan (14).
“Dwayne is uniquely qualified to succeed Greg, who has been our CEO since 2010,” said Dan Stein, board chairman of Central Bancshares, CBI Bank’s parent company. “The opportunity for them to work together over the coming year will ensure a smooth transition for the leadership of our company.”
“It is an honor to serve the communities that CBI has been serving for generations,” Sieck said in Thursday’s release. “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,” Sieck added.
Muscatine-based CBI Bank & Trust and Galesburg-based F&M Bank (a division of CBI) serve 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.
For more information, visit the company website HERE.
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