DES MOINES - Banker Michael Guttau has been named Iowa's banking superintendent.
Appointed by Gov. Terry Branstad, Mr. Guttau took the helm last month, although his nomination still requires state Senate confirmation.
Mr. Guttau, who goes by "Mick," also is president and chairman of Treynor State Bank and chief operating officer of the Bankers Electronic Network, a computer network organized by the American Bankers Association and various state bankers associations.
He will continue to run the Treynor bank, since the state has no restrictions on bank involvement for its superintendent, said Mr. Guttau, who holds a bachelor's degree in agriculture from Iowa State University.
"Being a day-to-day banker in a community bank of $28 million in assets ... we all work on everything from the lending process to deposit gathering to deciding what's going to be done in this year's homecoming parade," he said. "I think being experienced in all facets of banking is very valuable to this position."
He replaces Richard Buenneke, who resigned in August after nearly four years in the post.