First National of Nebraska to buy Minneapolis capital holding company

Omaha-based First National of Nebraska is acquiring Minneapolis-based Northland Capital Holdings and its subsidiary Northland Securities, Inc.

The deal is expected to close in the first quarter of this year. Once the sale closes, Northland Securities will operate as a subsidiary of First National. A prominent underwriter of tax-exempt bonds in the Midwest, Northland Securities is a full-service securities broker-dealer with offices in seven states and approximately 170 employees.

“Our companies share similar core values, ways of doing business, and approaches to serving our customers and communities,” said Clark Lauritzen, chair and president of the $30 billion First National of Nebraska. “We look forward to working together to meet the financial goals of our corporate, government, and nonprofit clients with the highest levels of integrity and accountability.”

Northland President and CEO Randy Nitzsche said the deal “will make Northland an even stronger full-service broker-dealer. “Northland looks forward to partnering with FNNI given our strong cultural alignment and shared growth aspirations throughout the Midwest,” he added. 

Piper Sandler & Co., Minneapolis, served as financial adviser to First National of Nebraska. Kutak Rock LLP, Omaha, served as legal adviser. Faegre Drinker, Minneapolis, served as legal adviser to Northland Securities.