Cedar Rapids Bank & Trust Announces Board of Director Appointments


January 15, 2020 - Cedar Rapids Bank & Trust (CRBT) is pleased to announce the appointment of two new members to the company's board of directors, effective January 9, 2020.

Joining the board are Mike Mallaro and James Klein. These appointments bring the company's total board membership to 14.

Mike Mallaro is Chief Executive Officer of VGM Group, Inc., headquartered in Waterloo, IA. He began his tenure at VGM in 2001, serving as CFO and leading the development of the employee stock ownership plan (ESOP). In 2016, Mike became CEO. Prior to VGM, he was CFO of a regional off-price retailer. He also spent twelve years as a CPA in an international accounting firm. Mallaro frequently speaks at regional and national conferences on topics including healthcare trends, financial benchmarks, business plan optimization, and strategic growth. He holds a BBA in accounting from The University of Iowa, as well as CPA (inactive) and CMA designations.  

James Klein serves as President of Cedar Rapids Bank & Trust. With 25 years of banking experience in the greater Cedar Rapids area, his ability to connect vision, people and ideas to drive results helps guide CRBT’s culture and growth. Prior to serving as CRBT President, James most recently served as CRBT Executive Vice President and Chief Lending Officer. He has also gained vast banking knowledge through positions ranging from teller to small business and retail manager. As a lifelong learner, James has completed the Graduate School of Banking in Boulder, Colorado, The Iowa School of Banking, Iowa Banker’s Commercial Lending School, the American Bankers Association (ABA) Commercial Lending School, and the Leadership Institute. He is also a graduate of The University of Iowa, where he earned his BBA with a major in finance, as well as his MBA. Born and raised in Cedar Rapids, James is very active in giving back to the community, serving on multiple boards and teaching at various local universities and banking schools. James is a 2004 CBJ Forty Under 40 honoree, a 2005 Leadership for Five Seasons program graduate, and a 2013 Rising Star in Banking by Northwestern Financial Review.

Mallaro and Klein complement CRBT's strong and diverse board of directors' skills and experiences, and help continue the bank's mission of serving its employees, clients, shareholders, and community.