First Community Trust CEO, Francis A. “Chip” Murray, Announces Retirement

POSTED on December 31, 2019 IN First Community Trust, N.A.

Murray to transition January 1; John Gonner named as successor

Chip MurrayDubuque, IowaFirst Community Trust, N.A. (FCT) announced that President and Chief Executive Officer, Chip Murray, will transition from his role effective January 1, 2020, and will continue consulting with FCT as a Senior Advisor in a part-time capacity. John Gonner has been named successor as President and CEO of FCT.

Chip Murray was the co-founder of FCT serving as the President and Chief Operating Officer since the company’s inception in 2001 and as CEO since 2015. Under Chip’s leadership, FCT grew to over $900 million in assets under management.

“Chip has invested his time and talents into conceptualizing and developing this phenomenal organization,” said Murray Williams, CEO of Affiliates Management Company, FCT’s parent company and holding company of the Iowa Credit Union League. “Through his exceptional management skills, financial stewardship and clear vision for the company’s future, he has cultivated a strong bench of talented, highly tenured leaders that will continue to support FCT into the future. As a result, we’re very well positioned for a smooth leadership transition.”

Chip Murray will be succeeded by John Gonner, currently Executive Vice President and Chief Investment Officer of FCT. Gonner has served FCT clients since 2001, and currently oversees the investment functions of the business.

“John’s background, professional expertise and client centricity make him the perfect choice to lead FCT into the next decade,” said Williams. “He is a vital piece of the organization and we have great confidence in his abilities to lead the talented FCT staff toward future growth and evolution.”

Gonner is a graduate of Loras College and holds a degree in accounting and finance. He holds several professional designations, including Chartered Financial Analyst (CFA), CPA, CFP, and CIPM.


About First Community Trust

First Community Trust, N.A. (FCT) is a nationally chartered trust company offering trust, investment and retirement services, primarily through credit unions. Founded in 2001, our sole objective is to help our clients achieve their personal financial and estate planning goals and objectives. FCT is headquartered in Dubuque, Iowa. For more information, visit

About Affiliates Management Company

Affiliates Management Company (AMC) was established in 2008 as a wholly owned holding company of the Iowa Credit Union League (ICUL). AMC and its family of companies are dedicated to improving the financial lives of consumers. AMC’s family of companies – Coopera, First Community Trust, N.A., PolicyWorks Iowa, PolicyWorks LLC and the Iowa Credit Union Foundation. For more information, visit


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