Exhibit 10.23

Split Dollar Insurance Agreement between the Company and Brenton Life 
Insurance Trust for the benefit of Junius C. Brenton, dated January 12, 
1997.
     225


Split Dollar Insurance Agreement

Collateral Assignment

AGREEMENT, made and entered into this 12th day of January, , by and between 
Brenton Banks, Inc., Des Moines, Iowa ("Company"), and Brenton Life 
Insurance Trust, an irrevocable trust, ("Owner") for the benefit of Junius 
C. Brenton, Des Moines, Iowa.

WHEREAS, Junius C. Brenton is a valued Director of the Company, and Company 
wishes to provide additional inducement for Junius C. Brenton's continued 
involvement with the Company, and as additional compensation, Company 
wishes to assist Junius C. Brenton with respect to a personal life 
insurance program by entering into this Split Dollar Insurance Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and conditions 
contained herein, the parties hereto agree as follows:

1.  Policy.  The life insurance policy (the "Policy") with which this 
Agreement deals is identified in Exhibit "A" attached hereto and by this 
reference incorporated herein.  In the event that this Agreement deals with 
multiple life insurance policies, each policy shall be identified in a 
separate Exhibit "A" attached hereto, and all references herein to the 
Policy shall include all policies with respect to which a separate Exhibit 
"A" is attached hereto.

2.  Ownership.  The Owner shall at all times be the owner of the Policy, 
and shall have the sole right to exercise all ownership rights granted to 
the owner by the terms of the Policy.  It is the express intention of the 
parties hereto to reserve to the Owner all rights in the Policy granted by 
the terms of the Policy, including, but not limited to, the right to borrow 
against the Policy, the right to assign the Owner's interest in the Policy, 
the right to change the beneficiary of the Policy, the right to exercise 
settlement options, and the right to surrender or cancel the Policy (in 
whole or in part).  The Company shall not have nor exercise any right in 
and to the Policy which could in any way endanger, defeat or impair any of 
the rights of the Owner in the Policy.  The only rights in and to the 
Policy granted to the Company shall be its security interest in the cash 
value of the Policy and its right to receive a portion of the death benefit 
of the Policy, all as provided herein.

3.  Premiums.  Premiums on the Policy shall be paid by the parties hereto 
as set forth in Exhibit "B" attached hereto and by this reference 
incorporate herein.


4.  Interest of Company in the Policy.  The Company's interest in the 
Policy shall be limited to the following rights in the cash value and to a 
portion of the death benefit of the Policy as set forth below:

     a.  In the event the Policy is totally surrendered or canceled by 
the Owner, the Company shall receive from the surrender proceeds of 
the Policy: (I) the aggregate amount of cumulative premiums paid by 
the Company, plus (ii) an amount, not less than zero, which is 
calculated by taking 5.2 percent per annum of the total amount of 
cumulative premiums paid by the Company to date less $150,000.00 
("Amount Due Company").

     b.  Upon the death of the survivor of Junius C. Brenton and 
Junius C. Brenton's spouse, while the Policy remains in force, the 
Company shall receive from the death benefit proceeds of the Policy 
the Amount Due Company.

     c.  In the event of the termination of this Agreement, the 
Company shall be repaid by the Owner the Amount Due Company.

     d.  In the event the Owner obtains a policy loan with respect to 
the Policy or in the event the Policy is partially surrendered and 
such loan or partial surrender causes the net cash surrender value of 
the Policy to be a sum less than the Amount Due Company, the Owner 
will repay to the Company a portion of any Policy loan proceeds or 
partial surrender proceeds to the Company so as to cause the net cash 
surrender value of the Policy following the policy loan or partial 
surrender to be equal to or exceed the Amount Due Company.

As used in this Agreement, the term "net cash surrender value" shall mean 
the cash surrender value of the Policy, less the amount of any then 
existing loans or withdrawals against the Policy obtained by the Owner.  As 
used in this Agreement, the term "the aggregate amount of cumulative 
premiums paid by the Company" shall mean the aggregate amount of premiums 
paid by the Company net of any repayment to the Company of such amount.

5.  Collateral Assignment.  Contemporaneously herewith the Owner has 
assigned the Policy as collateral security to secure payment of the amounts 
payable to Company identified herein under a form of Collateral Assignment 
which has been filed with the insurance company issuing the Policy.  In the 
event of a total or partial surrender of the Policy, termination of this 
Agreement or upon the death of the survivor of Junius C. Brenton and Junius 
C. Brenton's spouse, the amounts payable


to the Company identified herein shall be paid to the Company in accordance 
with the terms of such Collateral Assignment.

6.  Upon the death of the survivor of Junius C. Brenton and Junius C. 
Brenton's spouse, the balance of the death benefit under the Policy in 
excess of the amount payable to the Company under the provisions hereof, if 
any, shall be paid directly to the beneficiary or beneficiaries designated 
by the Owner in the manner and in the amounts provided by the beneficiary 
designation of the Policy filed with the insurance company issuing the 
Policy.

7.  Termination.  This Agreement may be terminated at any time upon the 
mutual agreement of the parties hereto.

8.  Assignment by Owner.  In the event the Owner shall transfer all 
interest in the Policy to a transferee, then all of the Owner's interest in 
the Policy and in this Agreement shall be vested in the transferee, who 
shall become a substituted party hereto and who shall become bound by the 
provisions hereof, and the Owner shall have no further interest in the 
Policy or in this Agreement.

9.  Assignment by Company.  The Company shall not assign any of its rights 
in the Policy or in this Agreement to anyone other than the Owner (or the 
Owner's transferee, if the Owner has transferred its rights in the Policy) 
without the prior written consent of the Owner (or the Owner's transferee, 
if the Owner has transferred its rights in the Policy).  Any attempted 
assignment or transfer by the Company in violation of this paragraph shall 
be null and void and of no force and effect.

10. Insurer Liability.  The insurance company which issues the Policy shall 
not be deemed to be bound by the provisions of this Agreement nor to have 
notice of the terms of this Agreement.  Any and all liability of the 
insurance company issuing the Policy shall be determined solely by 
reference to the terms of the Policy, any applicable riders to the Policy, 
the beneficiary designation with respect to the Policy, the Collateral 
Assignment with respect to the Policy and any other documents filed with 
the insurance company and accepted and acknowledged by the insurance 
company.

11. Split Dollar Plan.  This Agreement is intended to qualify the ownership 
of the Policy as a collateral assignment method split dollar life insurance 
Director benefit plan as described in Revenue Ruling 64-328, and shall be 
administered so as to qualify as such a plan.


12. Entire Agreement.  This Agreement constitutes the entire agreement of 
the parties with respect to the subject matter hereof and cannot be 
amended, altered, modified, except by a written instrument signed by each 
of the parties hereto.

13. Notices.  Any notice, consent or demand required or permitted to be 
given under the provisions of this Agreement by one party to another shall 
be in writing, shall be signed by the party giving the notice, and shall be 
given either by delivery to the other party personally, or by mailing, by 
United States certified mail, postage prepaid, to the other party, 
addressed to the other party's last known mailing address as shown on the 
records of the Company.  In the event such notice is given by mailing, the 
date of mailing shall be deemed the date of the giving of such notice, 
consent or demand.

14. Binding on Successors and Assigns.  This Agreement shall bind and inure 
to the benefit of the parties and their respective heirs, successors and 
assigns.

15. Governing Law.  This Agreement shall be deemed made in the state of 
Iowa, the this Agreement and the rights of the parties hereunder shall be 
governed by and construed in accordance with the laws of the state of Iowa.

16. Severability.  In the event a particular provision of this Agreement is 
held to be invalid under applicable law, effect shall nevertheless be given 
to all valid provisions hereof to further the objectives of this Agreement.

17. Interpretation.  Where appropriate in this Agreement, words used in the 
singular shall include the plural, and words used in the masculine or 
neuter shall include the feminine.

18. Named Fiduciary and Plan Administrator.  For the purposes of the 
Director Retirement Security Act of 1974 (ERISA), the Company shall be the 
"Named Fiduciary" and Plan Administrator of the split dollar insurance plan 
for which this Agreement is hereby designated the written plan instrument. 
 The Company, as Named Fiduciary, shall have authority to control and 
manage the operation and administration of this Agreement, and it shall be 
responsible for establishing and carrying out a funding policy and method 
consistent with the objectives of this Agreement.  Any decision by the 
Company denying a claim for benefits under this Agreement shall be stated 
in writing, set forth specific reasons for the denial, and be delivered or 
mailed to the claimant.  All claim procedures under this split dollar 
insurance plan shall be performed in compliance with the requirements of 
ERISA.


IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the 
year and date first above written.


Brenton Banks, Inc.
Company


By /s/ Steven T. Schuler
Its CFO/Treasurer/Secretary



Owner


By __________________________
Kenneth R. Brenton, Trustee of the
Brenton Family Life Insurance Trust



EXHIBIT "A"


Policy Number: 53595674

Issued by: Manulife Financial

Providing for initial death benefit proceeds of $2,000,000.


This policy is a survivorship life insurance policy on the lives of Junius 
C. Brenton and Sue Rutledge Brenton, Junius C. Brenton's wife, which pays a 
death benefit only upon the death of the survivor of Junius C. Brenton and 
Sue Rutledge Brenton.



EXHIBIT "B"

Premiums

The Company shall pay annually $48,314 of the premiums due on the Policy 
for 6 years.


Collateral Assignment


THIS ASSIGNMENT is made and entered into this 12th day of January, 1997, by 
the undersigned as owner (the "Owner") of a certain life insurance policy 
number 53595674 (the "Policy") issued by Manulife Financial (the "Insurer") 
upon the lives of Junius C. Brenton and Sue Rutledge Brenton, and Brenton 
Bank, Inc. (the "Assignee").

WHEREAS, Junius C. Brenton ("Director") is a valued Director of the 
Assignee, and

WHEREAS, Owner has entered into a Split Dollar Agreement with the Assignee 
(the "Agreement"), and

WHEREAS, in consideration of the Assignee agreeing to make certain premium 
payments, the Owner agrees to grant the Assignee a security interest in the 
Policy as collateral security for the repayment of the Amount Due Company.

NOW, THEREFORE, the undersigned Owner hereby assigns, transfers and sets 
over to the Assignee the following specific rights in the Policy subject to 
the following terms and conditions:

1.  This Assignment is made, and the Policy is to be held, as collateral 
security for all liabilities of the Owner to the Assignee, either now 
existing or that may hereafter arise, pursuant to the terms of the 
Agreement.

2.  The Assignee's interest in the Policy shall be strictly limited to:

    a.  The right to be repaid from the surrender proceeds of the Policy: 
(I) the aggregate amount of cumulative premiums paid by the Company, plus 
(ii)  an amount, not less than zero, which is calculated by taking 5.2 
percent per annum of the total amount of cumulative premiums paid by the 
Company to date less $150,000.00 ("Amount Due Company") in the event the 
Policy is totally surrendered or canceled by the Owner.

    b.  The right to be repaid from the death benefit proceeds of the 
Policy the Amount Due Company upon the death of the survivor of the 
Director and the Director's spouse, while the Policy remains in force.

    c.  The right to be repaid the Amount Due Company in the event of 
the termination of the Agreement.

    d.  The right to be repaid a portion of any Policy loan proceeds 
or partial surrender proceeds paid to the Owner so as to cause the net


cash surrender value of the Policy to be equal to or exceed the Amount 
Due Company in the event the Owner obtains a Policy loan or in the 
event the Policy is partially surrendered and such loan or partial 
surrender causes the net cash surrender value of the Policy to be a 
sum less than the Amount Due Company.

As used in this Assignment, the term "net cash surrender value" shall mean 
the cash surrender value of the Policy, less the amount of any then 
existing loans or withdrawals against the Policy obtained by the Owner.  As 
used in this Assignment, the term "the aggregate amount of cumulative 
premiums paid by the Assignee" shall mean the aggregate amount of premiums 
paid by the Assignee net of any repayment to the Assignee of such amount.

3.  The Owner shall retain all incidents of ownership in the Policy, 
including, but not limited to, the sole and exclusive rights to: borrow 
against the Policy; make withdrawals from the Policy; assign Owner interest 
in the Policy; change the beneficiary of the Policy; exercise settlement 
options; and, surrender or cancel the Policy (in whole or in part).  All of 
these incidents of ownership shall be exercisable by the Owner unilaterally 
and without the consent of any other person.

4.  The Assignee shall, upon request, if the Policy is in the possession of 
the Assignee, forward the Policy to the Insurer, without unreasonable 
delay, for change of beneficiary, any election of optional mode of 
settlement, or the exercise of any other right reserved by the Owner.

5.  The Insurer is hereby authorized to recognize the Assignee's claims, 
including the validity or the amount of any liabilities of the Owner to the 
Assignee under the Agreement, the existence of any default therein, the 
giving of any notice required therein or herein, or the application to be 
made by the Assignee of any amounts to be paid to the Assignee.  Upon the 
Insurer giving prior written notice to Owner of the proposed payment of 
amounts to the Assignee, the receipt of the Assignee for any sums received 
by it shall be a full discharge and release therefore to the Insurer.

6.  The Insurer shall be fully protected in recognizing a request made by 
the Owner for surrender or cancellation of the Policy, in whole or in part, 
or in recognizing a request made by the Owner for any loans against the 
Policy permitted by the terms of the Policy.  In the event this request is 
made, upon prior written notice thereof to the Assignee the Insurer may pay 
the proceeds of any surrender, cancellation, or loan to the sole order of 
the Owner, or as the Owner shall direct.


7.  Upon the full payment of the liabilities of the Owner to the Assignee 
pursuant to the Agreement, the Assignee shall execute an appropriate 
release of this Collateral Assignment.

8.  It is the express intention of the Owner to assign a limited interest 
in the Policy to the Assignee as security for certain premium payments made 
by the Assignee, without giving the Assignee any incidents of ownership in 
the Policy within the meaning of section 2042 of the Internal Revenue Code 
(and regulations thereunder), or any similar provision of subsequent law.  
All provisions of this Collateral Assignment (and of the Agreement) shall 
be construed and exercised so as to effect this intention.

IN WITNESS WHEREOF, the Owner and Assignee have executed this Assignment 
and the Insurer has acknowledged its acceptance of this Assignment 
effective the day and year first above written.



Owner



By _______________________________
Kenneth R. Brenton, Trustee of the
Brenton Family Life Insurance Trust


Assignee

Brenton Banks, Inc.



By /s/ Steven T. Schuler
Its CFO/Treasurer/Secretary


ACCEPTED:

Insurer

Manulife Financial



By _________________________
Its ________________________