<PAGE>
Exhibit 10.24

          Split-Dollar Insurance Agreement between the Company, William H.
          Brenton Crummy Trust and William H. Brenton Crummy Trust II, dated
          November 23, 1994.
     171

<PAGE>
Split Dollar Insurance Agreement

Collateral Assignment


     AGREEMENT, made and entered into this 23rd day of November,
1994, by and between Brenton Banks, Inc., Des Moines, Iowa
("Company"), and the William H. Brenton Crummey Trust and the
William H. Brenton Crummey Trust II, irrevocable trusts, for the
benefit of William H. Brenton and William H. Brenton ("Owner"),
Des Moines, Iowa.

     WHEREAS, William H. Brenton is a valued Employee of the
Company, and Company wishes to provide additional inducement for
William H. Brenton's continued involvement with the Company, and
as additional compensation, Company wishes to assist William H.
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 $300,000.00 ("Amount Due Company").

          b.  Upon the death of William H. Brenton, or, if the
Policy is a survivorship life insurance product, upon the death of
the survivor of William H. Brenton and William H. 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.
     172

<PAGE>
          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 William H. Brenton, or, if the Policy is a
survivorship life insurance product, upon the death of the
survivor of William H. Brenton and William H. 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.   Death of William H. Brenton.  Upon the death of William
H. Brenton, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of William H. Brenton and
William H. 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.
     173

<PAGE>
    11.   Split Dollar Plan.  This Agreement is intended to
qualify the ownership of the Policy as a collateral assignment
method split dollar life insurance employee 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 Business Corporation Act, 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
Business Corporation Act.

    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 Employee 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/Sec.
     174

<PAGE>
Brenton Bank, N. A., Trustee of the
William H. Brenton Crummy Trust
Owner


By /s/ Gary Ernst
Its Vice Pres. Sr. Trust Officer


Brenton Bank, N.A. Trustee of the
William H. Brenton Crummy Trust II
Owner


By /s/ Gary Ernst
Its Vice Pres. Sr. Trust Officer


William H. Brenton
Owner


/s/ William H. Brenton
     175

<PAGE>
EXHIBIT "A"



Policy Number:  117215X

Issued by: EMC Insurance Companies

Providing for initial death benefit proceeds of $ 300,000


     This policy is a life insurance policy on the life of William
H. Brenton.  The policy also provides a death benefit on the life
of Natalie G. Brenton in the amount of $150,000.
     176

<PAGE>
EXHIBIT "A"



Policy Number:  119921

Issued by: EMC Insurance Companies

Providing for initial death benefit proceeds of $ 400,000


     This policy is a life insurance policy on the life of William
H. Brenton.
     177

<PAGE>
EXHIBIT "A"



Policy Number:  137577

Issued by: EMC Insurance Companies

Providing for initial death benefit proceeds of $ 400,000


     This policy is a life insurance policy on the life of William
H. Brenton.
     178

<PAGE>
EXHIBIT "A"



Policy Number:  121476

Issued by: EMC Insurance Companies

Providing for initial death benefit proceeds of $ 450,000


     This policy is a life insurance policy on the life of William
H. Brenton. The policy also provides a death benefit on the life
of Natalie G. Brenton in the amount of $350,000.
     179

<PAGE>
EXHIBIT "A"



Policy Number:  146078

Issued by: EMC Insurance Companies

Providing for initial death benefit proceeds of $ 500,000


     This policy is a life insurance policy on the life of William
H. Brenton.
     180

<PAGE>
EXHIBIT "A"



Policy Number:  7890362

Issued by: Penn Mutual Life Insurance Company

Providing for initial death benefit proceeds of $ 500,000


     This policy is a survivorship life insurance policy on the
lives of William H. Brenton and Natalie G. Brenton, William H.
Brenton's wife, which pays a death benefit only upon the death of
the survivor of William H. Brenton and Natalie G. Brenton.
     181

<PAGE>
EXHIBIT "A"



Policy Number:  4239293

Issued by: Principal Mutual Life Insurance Company

Providing for initial death benefit proceeds of $ 500,000


     This policy is a life insurance policy on the life of William
H. Brenton.
     182

<PAGE>
EXHIBIT "A"



Policy Number:  4239294

Issued by: Principal Mutual Life Insurance Company

Providing for initial death benefit proceeds of $ 500,000


     This policy is a life insurance policy on the life of Natalie
G. Brenton.
     183

<PAGE>
EXHIBIT "A"



Policy Number: 44243450

Issued by: Equitable Variable Life Insurance Company

Providing for initial death benefit proceeds of $ 750,000


     This policy is a life insurance policy on the life of William
H. Brenton.
     184

<PAGE>
EXHIBIT "B"



Premiums

     The Company shall pay the following premiums due on each
Policy.

<TABLE>
<CAPTION>
Policy Number                                         Premiums Paid

<S>                                                        <C>
EMC Insurance Companies
     117215X                                               $  3,700
     119921                                                   7,758
     137577                                                   9,120
     121476                                                  11,390
     146078                                                  20,300

Penn Mutual Life Insurance Company
     7890362                                                  6,532

Principal Mutual Life Insurance Company
     4239293                                                  6,300
     4239294                                                  5,100

Equitable Variable Life Insurance Company
     44243450                                                43,800
                                                           ________

Total premiums paid                                        $114,000
                                                           ________
                                                           ________
</TABLE>
     185

<PAGE>
Collateral Assignment


     THIS ASSIGNMENT is made and entered into this ________ day of
December, 1994, by the undersigned as owner (the "Owner") of a
certain life insurance policy number 117215X (the "Policy") issued
by EMC Insurance Companies (the "Insurer") upon the life of
William H. Brenton, and Brenton Bank, Inc. (the "Assignee").

     WHEREAS, William H. Brenton ("Employee") is a valued Employee
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 cumulative premiums paid by the Assignee.

     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
$300,000.00 ("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 Employee, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of the Employee and the
Employee'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 Assignee 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.
     186

<PAGE>
     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.


William H. Brenton
Owner


___________________________________________

Brenton Banks, Inc.
Assignee


By ________________________________________
Its _______________________________________
     187

<PAGE>
ACCEPTED:

EMC Insurance Companies
Insurer


By_________________________________________

Its________________________________________
     188

<PAGE>
Collateral Assignment


     THIS ASSIGNMENT is made and entered into this ________ day of
December, 1994, by the undersigned as owner (the "Owner") of a
certain life insurance policy number 119921 (the "Policy") issued
by EMC Insurance Companies (the "Insurer") upon the life of
William H. Brenton, and Brenton Bank, Inc. (the "Assignee").

     WHEREAS, William H. Brenton ("Employee") is a valued Employee
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 cumulative premiums paid by the Assignee.

     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
$300,000.00 ("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 Employee, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of the Employee and the
Employee'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 Assignee 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.
     189

<PAGE>
     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.

Brenton Bank, N.A. Trustee of the
William H. Brenton Crummy Trust
Owner


By_________________________________________
Its________________________________________


Brenton Banks, Inc.
Assignee


By ________________________________________
Its _______________________________________
     190

<PAGE>
ACCEPTED:

EMC Insurance Companies
Insurer


By________________________________________
Its_______________________________________
     191

<PAGE>
Collateral Assignment


     THIS ASSIGNMENT is made and entered into this ________ day of
December, 1994, by the undersigned as owner (the "Owner") of a
certain life insurance policy number 137577 (the "Policy") issued
by EMC Insurance Companies (the "Insurer") upon the life of
William H. Brenton, and Brenton Bank, Inc. (the "Assignee").

     WHEREAS, William H. Brenton ("Employee") is a valued Employee
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 cumulative premiums paid by the Assignee.

     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
$300,000.00 ("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 Employee, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of the Employee and the
Employee'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 Assignee 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.
     192

<PAGE>
     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.


Brenton Bank, N.A. Trustee of the
William H. Brenton Crummy Trust
Owner


By_________________________________________
Its________________________________________


Brenton Banks, Inc.
Assignee


By ________________________________________
Its _______________________________________
     193

<PAGE>
ACCEPTED:

EMC Insurance Companies
Insurer


By________________________________________
Its_______________________________________
     194

<PAGE>
Collateral Assignment


     THIS ASSIGNMENT is made and entered into this ________ day of
December, 1994, by the undersigned as owner (the "Owner") of a
certain life insurance policy number 121476 (the "Policy") issued
by EMC Insurance Companies (the "Insurer") upon the life of
William H. Brenton, and Brenton Bank, Inc. (the "Assignee").

     WHEREAS, William H. Brenton ("Employee") is a valued Employee
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 cumulative premiums paid by the Assignee.

     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
$300,000.00 ("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 Employee, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of the Employee and the
Employee'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 Assignee 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.
     195

<PAGE>
     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.

William H. Brenton
Owner


___________________________________________

Brenton Banks, Inc.
Assignee


By ________________________________________
Its _______________________________________
     196

<PAGE>
ACCEPTED:

EMC Insurance Companies
Insurer


By_________________________________________
Its________________________________________
     197

<PAGE>
Collateral Assignment


     THIS ASSIGNMENT is made and entered into this ________ day of
December, 1994, by the undersigned as owner (the "Owner") of a
certain life insurance policy number 146078 (the "Policy") issued
by EMC Insurance Companies (the "Insurer") upon the life of
William H. Brenton, and Brenton Bank, Inc. (the "Assignee").

     WHEREAS, William H. Brenton ("Employee") is a valued Employee
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 cumulative premiums paid by the Assignee.

     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
$300,000.00 ("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 Employee, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of the Employee and the
Employee'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 Assignee 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.
     198

<PAGE>
     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.


Brenton Bank, N.A. Trustee of the
William H. Brenton Crummy Trust
Owner


By_________________________________________
Its________________________________________


Brenton Banks, Inc.
Assignee


By ________________________________________
Its _______________________________________
     199

<PAGE>
ACCEPTED:

EMC Insurance Companies
Insurer


By_________________________________________
Its________________________________________
     200

<PAGE>
Collateral Assignment


     THIS ASSIGNMENT is made and entered into this ________ day of
December, 1994, by the undersigned as owner (the "Owner") of a
certain life insurance policy number 4239293 (the "Policy") issued
by Principal Mutual Life Insurance Company (the "Insurer") upon
the life of William H. Brenton, and Brenton Bank, Inc. (the
"Assignee").

     WHEREAS, William H. Brenton ("Employee") is a valued Employee
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 cumulative premiums paid by the Assignee.

     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
$300,000.00 ("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 Employee, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of the Employee and the
Employee'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 Assignee 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.
     201

<PAGE>
     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.


Brenton Bank, N.A. Trustee of the
William H. Brenton Crummy Trust
Owner


By_________________________________________
Its________________________________________


Brenton Banks, Inc.
Assignee


By ________________________________________
Its _______________________________________
     202

<PAGE>
ACCEPTED:

Principal Mutual Life Insurance Company
Insurer


By_________________________________________
Its________________________________________
    203

<PAGE>
Collateral Assignment


     THIS ASSIGNMENT is made and entered into this ________ day of
December, 1994, by the undersigned as owner (the "Owner") of a
certain life insurance policy number 4239294 (the "Policy") issued
by Principal Mutual Life Insurance Company (the "Insurer") upon
the life of Natalie G. Brenton, wife of William H. Brenton, and
Brenton Bank, Inc. (the "Assignee").

     WHEREAS, William H. Brenton ("Employee") is a valued Employee
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 cumulative premiums paid by the Assignee.

     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
$300,000.00 ("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 Employee, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of the Employee and the
Employee'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 Assignee 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.
     204

<PAGE>
     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.



Brenton Bank, N.A. Trustee of the
William H. Brenton Crummy Trust
Owner


By_________________________________________
Its________________________________________


Brenton Banks, Inc.
Assignee


By ________________________________________
Its _______________________________________
     205

<PAGE>
ACCEPTED:

Principal Mutual Life Insurance Company
Insurer


By_________________________________________
Its________________________________________
     206

<PAGE>
Collateral Assignment


     THIS ASSIGNMENT is made and entered into this ________ day of
December, 1994, by the undersigned as owner (the "Owner") of a
certain life insurance policy number 44243450 (the "Policy")
issued by Equitable Variable Life Insurance Company (the
"Insurer") upon the life of William H. Brenton, and Brenton Bank,
Inc. (the "Assignee").

     WHEREAS, William H. Brenton ("Employee") is a valued Employee
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 cumulative premiums paid by the Assignee.

     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
$300,000.00 ("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 Employee, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of the Employee and the
Employee'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 Assignee 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.
     207

<PAGE>
     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.



Brenton Bank, N.A. Trustee of the
William H. Brenton Crummy Trust
Owner


By_________________________________________
Its________________________________________


Brenton Banks, Inc.
Assignee


By ________________________________________
Its _______________________________________
     208

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ACCEPTED:

Equitable Variable Life Insurance Company
Insurer


By_________________________________________
Its________________________________________
     209

<PAGE>
Collateral Assignment


     THIS ASSIGNMENT is made and entered into this ________ day of
________________________, ________, by the undersigned as owner
(the "Owner") of a certain life insurance policy number 7890362
(the "Policy") issued by Penn Mutual Life Insurance Company (the
"Insurer") upon the lives of William H. Brenton and Natalie G.
Brenton, and Brenton Bank, Inc. (the "Assignee").

     WHEREAS, William H. Brenton ("Employee") is a valued Employee
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 cumulative premiums paid by the Assignee.

     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
$300,000.00 ("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 Employee, or, if the Policy is a survivorship life insurance
product, upon the death of the survivor of the Employee and the
Employee'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 Assignee 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.
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     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.


Brenton Bank, N.A. Trustee of the
William H. Brenton Crummy Trust
Owner


By_________________________________________
Its________________________________________


Brenton Banks, Inc.
Assignee


By ________________________________________
Its _______________________________________
     211

<PAGE>
ACCEPTED:

Penn Mutual Life Insurance Company
Insurer


By_________________________________________
Its________________________________________
     212