First National of Nebraska

First National of Nebraska is a privately held, interstate bank holding company based in Omaha, Nebraska, United States. Its largest banking subsidiary is First National Bank of Omaha. First National of Nebraska ranks as one of the 50 largest banks in the United States. There are locations in seven states and more than 6.6 million customers across the country. First National of Nebraska and its affiliates have more than $20 billion in managed assets and 5,000 employees.[1] As of June 30, 2009, First National of Nebraska had Shareholders' Equity of $1,116,225,000 with 315,000 shares outstanding and a Book Value Per Share of $3,544.[2]

First National of Nebraska
TypePrivate Company
OTCQB: FINN
IndustryFinance and Insurance
FoundedAugust 27, 1968 (1968-08-27)
Headquarters
Omaha, Nebraska
,
United States
Key people
Bruce Lauritzen, Chairman
ServicesFinancial services
Websitehttp://www.fnni.com

History
Name Position Years
John F. Davis Chairman 1967–1972
John R. Lauritzen President 1967–1972
Chairman 1972–1994
F. Phillips Giltner President 1972–1994
Chairman 1994-Unknown
Bruce R. Lauritzen President 1994-unknown
Chairman current
Dan O'Neill President 2001-2017
Clark D. Lauritzen President current

First National of Nebraska had its roots in the construction of First National Bank of Omaha's headquarters building, First National Center, in the 1960s. It was determined that total expenses, including the $2.5 million already paid to Woodmen of the World and adjoining property owners for land, would come to $13.9 million. It became necessary to form a holding company because there is a statutory limitation on the amount of money a bank is allowed to invest in brick and mortar. The U.S. Code draws the line at 50 percent of the financial institution's capital and surplus account, and they had decided to invest as much in that building, literally, as First National's entire net worth. A parent corporation, acting technically in its own name and on its own behalf, can go ahead and incur a sizable debt for construction purposes without running afoul of federal law, as long as it owns at least 80 percent of its subsidiary's stock. With that in mind, First National Bank's directors created (August 27, 1968) and its shareholders approved (January 21, 1969) First National of Nebraska, Inc.[3]

Ownership

First National of Nebraska is a privately held company. Bruce Lauritzen is Chairman of First National of Nebraska, Inc. Lauritzen is also Chief Executive Officer of the Lauritzen Corporation, a financial and bank holding company owning additional banks in Nebraska and Iowa.[4] The Lauritzen Corporation has an approximate 28% voting share in First National of Nebraska, Inc.[5]

Board of directors

The Board of Directors is chaired by Bruce Lauritzen, whose family owns a controlling interest in the Bank's ultimate holding company. The directors are family stockholders, independent directors, and members of the management of the Bank and its holding company.[6]

  • Bruce R. Lauritzen, Chairman
  • Clark D. Lauritzen, President
  • Margaret Lauritzen Dodge
  • Roger A. Fleury
  • George J. Behringer
  • John W. Castle
  • Thomas C. Stokes
  • Bryan E. Slone

Banking Subsidiaries

First National Bank Omaha
Main article: First National Bank Omaha

National business rankings
  • Fifth-largest in-house credit card processor
  • Top-ten commercial card issuer
  • Eleventh-largest issuer of bank cards in the United States
  • Top-twenty electronic funds processor
  • Fifth-largest agricultural lender with customers in 49 states
  • Largest commercial bank finance provider to the ethanol industry [7]

Sponsorships

First National of Nebraska is a sponsor for the following:

  • Colorado State Rams (First National Bank of Omaha)
  • Creighton Bluejays (First National Bank of Omaha)
  • Nebraska Cornhuskers (First National Bank of Omaha-Bank of Husker Nation)
  • Northern Illinois University (First National Bank of Omaha)
  • UNO Mavericks (First National Bank of Omaha)

See also

References
  1. (nd). Retrieved 5/13/2017.
  2. "Newsroom, First National Bank Omaha". First National Bank Omaha. Retrieved 2009-09-04.
  3. Szmrecsanyi, Dr. Stephen: "The First National Bank Story", page 83. First National Bank of Omaha, 1996
  4. Nebraska Business Hall of Fame - Bruce Lauritzen, 2006
  5. Federal Register Online via GPO Access - See note C.2.
  6. "Board of Directors, First National Bank Omaha". First National Bank. Retrieved 2008-12-17.
  7. "Company Facts, First National Bank of Omaha". First National Bank of Omaha. Retrieved 2009-06-25.
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