Iowa bank CEO named to top state banking regulator job
DES MOINES, Iowa (AP) — The chief executive officer of an Iowa-based banking company has been appointed to be the state’s top banking regulator.
Gov. Kim Reynolds says she’s named Northwest Financial Corp. CEO Jeff Plagge to superintendent of the Iowa Division of Banking.
Plagge replaces Ron Hansen who was appointed by former Gov. Terry Branstad in 2015. He will step down and return to the private sector in September.
Plagge’s appointment is subject to Iowa Senate confirmation.
The banking superintendent oversees an agency that regulates state chartered banks and has authority over consumer lenders, mortgage businesses, real estate appraisers and payday lenders.
Northwest Financial, a family-owned company with 18 locations in Iowa and Nebraska, is the fifth largest Iowa-based bank.
Campaign finance records show Plagge donated $1,000 to Reynolds’ campaign in July 2017.