Darrell Hughes has stepped down as president of Two Rivers Bank & Trust, sources confirmed on Tuesday.

Jim Olson, chairman, president and CEO of the bank’s holding company, Two Rivers Financial Group Inc., declined to comment on the management change. No information was available as to whether a successor has been named.

Hughes is the second Greater Des Moines bank president to abruptly depart this month. On July 15, Tom Stanberry, resigned as chairman, president and CEO of West Des Moines-based West Bancorporation Inc. West Bank’s parent company had reported a preliminary net loss of $5.3 million for the second quarter, primarily as the result of $15 million in loan-loss provisions taken.

Hughes’ departure did not appear to be tied to financial losses. Two Rivers reported second-quarter net income of $446,000 on June 30, compared with $127,000 in net income for the second quarter of 2008.

Hughes and several other former Bankers Trust Co. bankers launched Two Rivers as a de novo state-chartered bank in Des Moines four years ago, using $10 million in capital raised from the sale of stock in the parent company to about 125 Central Iowa investors. As of June 30, the bank had total assets of $217.5 million. It operates branches at 4500 Merle Hay Road in Des Moines and at 4320 Westown Parkway in West Des Moines.

Last month, Two Rivers announced that it had been approved to receive $12 million in additional capital through the U.S. Treasury Department’s Capital Purchase Program.

On July 1, the Iowa Division of Banking approved a request by Two Rivers to merge its East Iowa operations based in Burlington with its Central Iowa operations, with the West Des Moines bank being the resulting charter, but with its principal place of business in Burlington.