1. A person commits the offense of misapplication of funds of a financial institution if, being an officer, director, agent, or employee of, or connected in any capacity with, any financial institution, he or she embezzles, appropriates, or purposely misapplies any of the money, funds, or credits of such financial institution or any moneys, funds, assets, or securities entrusted to the custody or care of such financial institution, or to the custody or care of any such agent, officer, director, employee, or receiver.
2. The offense of misapplication of funds of a financial institution is a class E felony, unless the amount embezzled, appropriated, or misapplied is seven hundred fifty dollars or more, in which case it is a class D felony.