Omaha, Neb. – (November 5, 2007) Omaha Financial Holdings, Inc., has completed the acquisition of Midlands Financial Services, Inc., the holding company for Nebraska State Bank, and will immediately convert its three Omaha banks into Mutual of Omaha Bank locations.
Mutual of Omaha Bank is headquartered in a newly renovated facility at 33rd and Farnam streets. A “destination bank” featuring a Starbucks coffee shop, deli and internet café as well as a full complement of banking services, the Mutual of Omaha Bank headquarters will officially open with a ribbon cutting ceremony at 10:30 a.m. Tuesday.
The financial terms of the Nebraska State Bank transaction were not disclosed.
The Nebraska State Bank acquisition is the third to be completed by Omaha Financial Holdings. The company has acquired Peak National Bank of Golden, Colo., and converted its seven locations to Mutual of Omaha Bank; and Security Federal Bank in Lincoln, which will continue to operate under the Security Federal name.
No significant changes in the banks’ management and personnel are anticipated. The transition will be seamless for Nebraska State Bank customers, said Omaha Financial Holdings President and CEO Jeff Schmid.
A full-service community bank with three strong Omaha locations, acquiring Nebraska State Bank was a key step in implementing Mutual of Omaha’s banking strategy, Schmid said.
“Having a strong, full-service community bank in Omaha is the cornerstone of our strategy, which make this acquisition and the opening of our headquarters key milestones,” Schmid said. “We’re now ready to focus on offering consumers and commercial customers the best banking experience in the city.”
