Bank Iowa hires Jon Sarvis as chief financial officer

Bank Iowa announced the appointment of Jon Sarvis as the bank’s chief financial officer. Sarvis most recently served as CEO of credit card agent-issuer TMG Financial Services in Des Moines.

“Jon brings a broad perspective and strong, strategic decision-making to the bank,” said Jim Plagge, Bank Iowa president and CEO. “He has a wealth of knowledge in the financial services industry, as well as extensive experience in the areas of financial analysis and acquisitions. His leadership will be instrumental to the continued growth of the bank, as well as to the individuals and businesses that rely on Bank Iowa to guide their financial futures.”

Prior to serving as CEO of TMG Financial Services, Sarvis was CFO of the 11-year-old firm, a sister company to The Members Group, which was purchased by CO-OP Financial Services in 2017. Under his leadership, the firm grew its credit card portfolio to $225 million in assets and expanded internationally, adding a Canadian business line through a joint venture with one of Canada’s largest financial institutions.

Additional leadership positions Sarvis has held in the financial services industry include assistant vice president, finance manager for Wells Fargo Home Mortgage and senior vice president for Iowa Corporate Central Credit Union. He is a CFA charterholder, holds a master’s degree in finance from the University of Iowa and is a graduate of Harvard Business School’s Leading Change and Organizational Renewal Program.

Sarvis replaces former Bank Iowa CFO Darlene Carlson, who retired after 41 years with the bank.