First National of Nebraska Achieves Record Earnings

    • circle-one-color.svg
    • FNBO Newsroom

      May 26 2020

Press Release

Release Date: May 26, 2020

First National of Nebraska Achieves Record Earnings

OMAHA, Neb. May 26, 2020—First National of Nebraska achieved record earnings of $292 million in 2019, announced Clark D. Lauritzen, president, during the company’s Annual Shareholders Meeting on May 20, 2020.

The $292 million in net income is a four percent increase over the previous year’s earnings record of $280 million. Lauritzen touted FNN’s financial strength during his report to shareholders, comparing the company’s position during the Great Recession to facing the negative economic impacts expected from the COVID-19 pandemic. Among those impacts are historically low Treasury and Fed rates, high unemployment and a sharp drop in Gross Domestic Product, he said.

During his remarks, Lauritzen noted that many consumers have less debt now and a much smaller share of their income is being used to service that debt than during the Great Recession.

“We are in a great financial position today, with significant levels of revenue, plus excess capital and liquidity on hand,” he said. “Also, being privately owned continues to be a critical advantage as we work to tackle the economic challenges that lie ahead.”

The articles in this blog are for informational purposes only and not intended to provide specific advice or recommendations. When making decisions about your financial situation, consult a financial professional for advice. Articles are not regularly updated, and information may become outdated.