First National Bank of Omaha to Acquire Western States Bank
OMAHA, NE. November 22, 2021 – First National of Nebraska, with its subsidiary First National Bank of Omaha (“FNBO”), today announced that it has entered into a definitive agreement to acquire Western States BanCorporation (“Western States”) and its wholly-owned subsidiary Western States Bank, headquartered in Laramie, Wyoming.
Founded in 2006, Western States operates 10 branches across Northeastern Colorado, Western Nebraska, and Southeastern Wyoming. Western States has $542 million in total assets, $486 million in deposits and nearly 100 employees.
“We are extremely excited to welcome Western States’ customers and colleagues to First National Bank of Omaha,” said Clark D. Lauritzen, Chairman and President of FNBO. “Western States has a proud history and an excellent reputation, plus they share our values and commitment to community. We’re thrilled about this opportunity to grow and continue to serve customers in Colorado and Nebraska markets where we operate today, while introducing ourselves to new customers in the vibrant Wyoming communities of Laramie and Cheyenne.”
“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.”
The transaction is subject to customary regulatory approvals, the approval of Western States’ shareholders and the completion of various closing conditions, and is anticipated to close in the first quarter of 2022.
Crum said there will be no changes to existing customer accounts at Western States during the transition. Once the conversion is completed next year, all Western States locations will operate as FNBO, with its systems and suite of products and services.
Piper Sandler & Co. served as financial advisor to First National of Nebraska and Kutak Rock LLP served as legal advisor. Olsen Palmer LLC served as financial advisor and provided a fairness opinion to Western States and Baird Holm LLP served as legal advisor.
ABOUT FIRST NATIONAL BANK OF OMAHA
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska and its affiliates have more than $24 billion in assets and nearly 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas. Learn more at fnbo.com and connect with us on Facebook, Twitter and Instagram.
ABOUT WESTERN STATES
Western States Bank Corporation is the holding company of Western States Bank and maintains its principal executive offices in Laramie, Wyoming. Western States is a relationship-focused bank that serves local businesses and individuals through a full range of services, including business and retail banking. Western States provides these financial services through 11 banking offices located in Southeast Wyoming, Northeast Colorado and the Panhandle of Nebraska. Western States’ website is www.WSB.Bank.
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