Jan. 29, 2026

Central Bank is transitioning into its next generation of family leadership.

After 36 years of leadership, Tim and John Brown will transition from their executive leadership roles to members of an executive board on March 2.

The Browns purchased Iowa-based Central Bank in 1990. Tim Brown currently serves as board chairman, while John Brown is CEO. In their new roles, they will remain actively involved in strategic guidance and long-term planning for the bank.

Tim and John Brown

“Central Bank has always taken a steady and deliberate approach to progress,” Tim Brown said in a statement. “This transition reflects our confidence in the organization and the leadership team prepared to guide the bank into its next chapter.”

Nick Brown, who is Tim’s son, will become CEO and will be based in Sioux Falls.

Longtime executive Jeff Lapke, bank president, also will transition from his current role to become a member of the executive board.

In addition to Nick Brown’s new role, Kevin Brown, who is Nick’s brother, will serve as commercial banking president based in Sioux City. Brett Smith will serve as community banking president based in Des Moines.

Originally chartered in 1877, Central Bank had one location and $30 million in assets when the Browns purchased it more than 35 years ago. It has grown to 23 locations, more than 300 team members and $2.2 billion in assets.

“Our customers can expect the same local decision-making, personalized service and commitment to their financial success that Central Bank has always stood for,” Nick Brown said. “This transition strengthens our ability to deliver on those promises well into the future.”