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Heartland Financial USA, Inc. announced today that Andrew E. Townsend, president of the company’s Galena State Bank subsidiary has been promoted to the position of Executive Vice President, Deputy Chief Credit Officer for Heartland and will be located at its downtown Dubuque headquarters.
In his new position, Townsend will report to Executive Vice President and Chief Credit Officer, Kenneth J. Erickson, and will be primarily responsible for the oversight of Heartland’s various credit underwriting processes. He will also assume the supervision of a team of senior credit officers. His official start date at Heartland will be set after a successor has been named, which is expected to be near yearend 2012.
Townsend said, “I truly appreciate this opportunity to advance within the Heartland organization. My time here in Galena has been a wonderful experience and has provided me with a challenging career and personal growth opportunities. I am looking forward to bringing my customer service experience from Galena to the Heartland Credit Department.”
Lynn B. Fuller, chairman, president and chief executive officer said, “Drew will bring an exceptional awareness of customer relationships to his new position. He has been highly successful in his role as bank president in serving clients. I expect he will be equally effective in working with his new customers, the bankers who serve our clients at each of the Heartland subsidiary banks.”
A native of Britt, Iowa, Townsend began his career in 1988 as a bank examiner for the Iowa Division of Banking. He joined Dubuque Bank and Trust in 1993 as a loan review officer. He was selected to join Galena State Bank as executive vice president in 1996 as understudy to President Jerry Murdock in anticipation of Murdock’s retirement. In 2003, Townsend assumed the position of president and CEO of Galena State Bank and joined the bank’s board of directors.