The parent company of First National Bank of Omaha is acquiring Wyoming-based Western States Bank.
Clark D. Lauritzen, chair and president of the $25 billion First National of Nebraska, said the two banks “share similar core values, ways of doing business, and approaches to serving customers and communities.” Founded in 2006, the $542 million Western States Bank has a 10-branch network across northern Colorado, western Nebraska and southeastern Wyoming, $486 million in deposits and nearly 100 employees.
“Western States Bank complements these ideals, and we’re excited for the possibilities to expand our banking services into Wyoming while enhancing our presence in Northern Colorado and Western Nebraska,” Lauritzen noted.
“Once the regulators issue their approval, we’ll begin the process of rebranding Western States Bank to FNBO and transitioning their employees and customers to our bank,” he added. “I hope you’ll join me in welcoming Western States employees and customers to the FNBO family.”
Terms of the deal were not disclosed. The transaction is expected to close early next year.
“FNBO has proudly served a number of our communities for many years,” said Gary E. Crum, president and CEO of Western States Bank. “Joining the First National of Nebraska banking family and the team at FNBO is an exciting opportunity for us to expand our product and service offerings while continuing to deliver exceptional customer service.”
Piper Sandler & Co. served as financial advisor to First National of Nebraska. Kutak Rock LLP served as legal advisor. Olsen Palmer LLC and Baird Home LLP served as financial and legal advisors to Western States, respectively.