First Community Trust Announces Leadership Promotions

POSTED on February 14, 2024 IN First Community Trust, N.A.

Organization positioned for growth as portfolio expands

DUBUQUE, IOWA – First Community Trust, N.A. (FCT), a nationally-chartered investment firm headquartered in Dubuque, has announced a series of leadership promotions in response to the company’s growth and success in 2023.

Promoted employees include:

  • Kathleen Donnelly - EVP, Managing Director (based in Cedar Rapids): Kathy joined FCT in 2001. With her promotion, Kathy will continue her current duties in addition to overseeing and leading FCT's Cedar Rapids division including business development, financial management, and supervision of trust officers within the region.
  • Jim Liddle, CPA - EVP, Managing Director – Retail (based in Dubuque): Jim joined FCT in 2012. With his promotion, Jim will oversee and lead FCT's retail division including business development, financial management, and supervision of trust officers and trust administrators.
  • Jenna Walleser, CPA - Senior Investment Officer (based in Dubuque): Jenna joined FCT in 2022. Jenna specializes in the research and analysis of stocks, bonds, mutual funds and portfolio construction. She started her career at a Big 4 accounting firm, specializing in the audits of investment companies, public mutual funds and alternative investments. She also has previous experience in the areas of wealth management, investment advising, and retirement, tax and estate planning. With her promotion, Jenna will continue her current duties in investment and portfolio management in addition to assisting the CIO with investment strategy.
  • Matt Pillard - Vice President, Trust Officer (based in Dubuque): Matt joined FCT in 2020. With his promotion, Matt will continue his current duties serving DuTrac Community Credit Union, helping members with retirement planning, retirement income strategies, risk-based investment management, as well as trust administration and estate planning. Matt will also provide support to FCT’s institutional division administering employer sponsored retirement plans and other corporate accounts, including PEB and CDA accounts.

"FCT has been proud to serve communities across Iowa for more than two decades. We are excited to build upon that foundation with strategic promotions that will help FCT innovate and grow to meet consumer needs,” said Adam Claypool, Chief Executive Officer of FCT. “These individuals have consistently demonstrated exceptional dedication, expertise and leadership qualities, contributing significantly to our company's success. I have no doubt they will be critical to FCT’s future growth in Iowa and beyond.”

The series of promotions will build upon the organization’s 100 years of combined expertise and will help FCT manage its growth in key markets and industries. The promotions also reflect FCT’s commitment to providing clients with the highest level of performance and service.

FCT services include investment management, retirement planning and retirement income strategies, as well as trust and estate administration. In addition, FCT manages funds for endowments, foundations, non-profit organizations and credit union investments.

“I am honored to take on this new role as EVP, Managing Director,” said Kathleen Donnelly. “It's a testament to the incredible growth and market expansion our company has experienced, and underscores FCT’s position as a prominent player in the financial services industry. I’m excited for the future ahead as we work to help take the stress out of planning for life’s biggest moments.”

To learn more about FCT, please visit

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