First Community Trust, N.A. welcomes new Chief Executive Officer

DUBUQUE, IOWA (July 20, 2023) — First Community Trust, N.A. (FCT), a nationally-chartered trust and wealth management company headquartered in Dubuque, Iowa, is pleased to announce the appointment of Adam Claypool as its new Chief Executive Officer effective August 1, 2023. Formed with the client in mind, FCT provides financial services to several credit unions across Iowa and western Illinois. This leadership transition comes after former CEO, John Gonner, announced plans for his retirement earlier this summer after a remarkable 22 years of service to the company.

Claypool has nearly 30 years of successful experience in wealth management, investment banking and financial services leadership. As the Co-Founder of Bridgepoint Investment Banking and the Managing Principal of BP Growth Partners he has deep experience managing capital and providing trusted financial services advice to clients in highly regulated environments.

In addition to serving on the FCT board for the past four years, Claypool has served on numerous boards including BirdDogHR, (nka Arcoro), GCommerce, (nka SPS Commerce), and the EveryStep Foundation, among others. He has been committed to fostering innovation within the industry through his Governor appointment to the Iowa Innovation Corporation and his mentorship with the Global Insurance Accelerator. These experiences highlight his dedication to driving progress and excellence in Iowa’s financial sector.

“FCT has a tremendous history and tradition. I’m humbled and honored to partner with the FCT team and board as we collectively move forward and advance our service mission,” said Claypool. “FCT is the gold standard in providing clients with trusted, relationship-first advice and service. We have been doing so successfully for more than 20 years. It’s our privilege and duty to continue this service excellence for our current and new clients.”

“Adam is intimately familiar with our company’s values and history of providing exceptional and trusted client service,” said FCT Board Chairman, Murray Williams. “His passion for delivering the highest standard of care to our clients aligns perfectly with our mission, and we are thrilled to welcome him as our new CEO.”

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Adam Claypool, Chief Executive Officer

About First Community Trust

First Community Trust (FCT) is a nationally chartered trust bank offering investment management, financial planning, and trust services for individual and institutional clients nationwide. FCT’s professionals have more than 165 years of consistent and collective investment, financial and trust experience. Founded in 2001, FCT manages over $1 billion in assets, helping individual clients achieve their personal financial, retirement and estate planning goals and helping institutional clients with their retirement plans and other investment management objectives.


Natalie Mahoney

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