Republican Roby Smith leads in tight race for state treasurer

Republican incumbent Roby Smith was leading a tight race against Democratic challenger John Norwood early Wednesday, with all Iowa precincts reporting.

Smith had 50.3% of the vote to 49.6% percent for Norwood in unofficial results, with 100% of precincts reporting. That amounts to a lead of over 10,100 votes for Smith.

Tuesday’s election saw Democrats sweep most of the top-of-ticket races, including the governor’s office, U.S. Senate, and three of the four congressional districts. Republican incumbents were leading in several of the other statewide races, including secretary of agriculture and secretary of state, but the open state auditor’s race was neck-and-neck and Republican Attorney General Brenna Bird was trailing Democrat Nate Willems.

Smith, a former banker and former state senator from Davenport, touted breaking an “all-time record” in collecting interest on the state’s $10 million “idle money fund,” as well as managing record assets under the $7.25 billion ISAVE 529 program. He said his priority would be to expand on those results.

Norwood, a financial advisor who ran for Iowa secretary of agriculture in 2022, has said if elected, he would prioritize investing state dollars at local banks and credit unions, and supporting new crop markets. He also said he believed the Iowa Public Employees’ Retirement System (IPERS) CEO should be selected by a board rather than by the governor.