A longtime bank executive and community leader faces a series of felony charges involving "possible improprieties at a financial institution," according to Spencer Police.
The initial complaint was filed on March 19, 2007. That was about the time 39-year-old Shane Habben of rural Everly switched banks in Spencer.
Previously, Habben worked as vice president of commercial lending at State Bank of Everly, Peterson and Spencer. He was hired away by U.S. Bank to serve as vice president of its commercial and agricultural lending group. His new bank announced Habben's addition to the staff in March of 2007.
Spencer Police Chief Mark Lawson could not confirm which bank was affected by the allegations. Lawson also said he could not disclose a dollar amount.
"It had to be one of the Spencer financial institutions," Lawson said. "That's all I can say right now."
Habben faces charges of second-degree theft and three counts of forgery. All of the allegations are Class D felonies.
"The improprieties that are alleged would have to do with paperwork regarding loans and payments that were supposed to be made and weren't being made," Lawson said.
The forgeries "are just that," according to the police chief.
"He was signing other people's names when he shouldn't have been," he said.
Habben turned himself in to authorities Wednesday and he was given a court date.
He has been actively involved in the local community, serving as president of Spencer Industries Foundation and Jobs Trust. He also has been a board member for the Clay County Farm Bureau.
He is a past chairman and board member for the Iowa Lakes Corridor Development Corporation. He also has past roles as a member of Hy-Noon Kiwanis and has served on the finance committee at Grace United Methodist Church in Spencer.