First National of Nebraska, Inc. (OTCPK:FINN) agreed to acquire Western States BanCorporation on November 22, 2021. Once the conversion process is completed next year, all Western States locations will operate under the First National name. Western States has $542 million in total assets.

Western State's shareholders and regulators will have to approve the deal. The transaction is expected to close in the first quarter of 2022. Piper Sandler & Co.

acted as the financial advisor and Lisa Sarver, Mike Alvano, Caitlin Gustafson, Bryan Handlos, Jeff Makovicka, John Schembari, Mark Ellis and Brian Eades of Kutak Rock LLP acted as the legal advisor to First National of Nebraska. Olsen Palmer LLC served as financial advisor and provided a fairness opinion to Western States and Baird Holm LLP served as legal advisor.