First National of Nebraska, Inc. completed the acquisition of Western States BanCorporation.
February 13, 2022
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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.
First National of Nebraska, Inc. (OTCPK:FINN) completed the acquisition of Western States BanCorporation on February 14, 2022. The regulatory board has approved the transaction.
First National of Nebraska, Inc. is a financial holding company. The Company, through its banking subsidiary, First National Bank of Omaha and subsidiaries (the Bank) and non-banking subsidiaries are engaged in various businesses, including technology hosting and related activities, among other things. The Bank supports its business customers with real estate, commercial and agriculture loans, as well as cash and wealth management solutions. The Company supports its individual customers with consumer lending alternatives, including mortgage loans, and cash and wealth management solutions, and it supports its strategic credit card partners by issuing credit cards and unsecured consumer loans to that partnerâs individual and business customers. The Company sells credit card loans to securitization trusts. The Company and its subsidiaries have approximately 103 full-service branches throughout seven states.