First Security Announces Changes in Leadership

The First Security Bank & Trust Board of Directors announced at their December 2023 meeting that Kurt Herbrechtsmeyer had been elected Chairman of the Board and Brad Miller, who has been the bank’s Chief Financial Officer since 2021, had been promoted to President and Chief Executive Officer effective January 1st, 2024. Brad will also be joining the bank’s Board of Directors.

Although Brad was raised in Wichita, Kansas, his roots run deep in Iowa. His ancestors moved here from Virginia in 1852.

“The people here are kind and go the extra mile to help each other,” said Brad. “That’s one reason First Security interested me when I started here nearly three years ago. The bank and its staff aim to support and improve the communities we serve.”

Brad joined the bank with a bachelor’s degree in accounting and business administration from the University of Kansas as well as a Master of Business Administration degree from Washburn University. He also earned a Chartered Financial Analyst® Institute designation and is a member of the Institute of Chartered Financial Analysts.

He joins First Security with a background in public accounting, institutional investment management, and community-based financial institutions.

“My career has been in banking and financial services for over 30 years. I’ve been doing a lot of things over those decades to prepare for a role like this,” said Brad. “It’s an honor and I appreciate the trust that Kurt and the Board of Directors have placed in me. There is a strong 120-year legacy at First Security, and I look forward to building on that.”

A Herbrechtsmeyer has been employed by First Security for over 100 years, successfully directing the bank through the Great Depression, a devastating tornado, a 100-year flood, multiple pandemics, expansions, mergers, and the transition from traditional banking to high-tech digital services.

“We are in an industry that is evolving at a revolutionary pace. Traditionally, First Security has kept ahead of that pace,” added Brad. “For example, in 1903 we were the only area bank open on Saturdays. Today, we are the only area bank providing expanded hours via Video Banking.”

So that he can learn more about what new products and services customers need as well as what motivates employees, Brad has moved his office to the main level of the bank at 809 Clark Street in Charles City and plans to spend time visiting each of the 10 communities First Security has a branch in.

In the meantime, Kurt Herbrechtsmeyer, former President and CEO of nearly 20 years, isn’t going anywhere. He is taking over as Chairman of the Board, allowing for some continuity as leadership changes at First Security.

“There’s plenty to do. I will be working more on holding company business and shareholder relations, and I will also be available as Brad transitions into his role as CEO and President,” said Kurt. “I look forward to digging in and getting things done.”

Those that would like to meet Brad, congratulate him and Kurt on their new roles, and meet other First Security leadership are welcome to do so at the bank’s Member Mingle event (formerly known as Business After Hours) at Tellurian Brewing in Charles City from 5:00pm – 6:30pm on Monday, February 12th.

First Security Bank & Trust has locations across North Central Iowa and headquarters in Charles City. Member FDIC.