First National of Nebraska has reached a deal to buy InBankshares and its wholly owned banking unit, InBank, through its subsidiary FNBO, also known as First National Bank of Omaha.
The transaction comes after FNBO’s June announcement that it would purchase Missouri-based Blue Ridge Bank & Trust, a move that increased its presence in the Kansas City area by eight branches.
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InBankshares presently expects the overall value to be paid to common shareholders in the transaction to be between $200m and $204m.
The implied value per share is estimated at between $16.41 and $16.74, though those figures could change.
Under the latest deal, FNBO will strengthen its operations in Colorado with the addition of nine InBank branches across the Front Range.
These locations include entry into Denver, Colorado Springs and southern parts of the state.
Together with FNBO’s current 21 branches in northern Colorado, including Fort Collins, Boulder, Greeley and Loveland, the combined network in the state will total 30 branches.
InBank CEO and founder Ed Francis said: “InBank was built with a commitment to delivering highly personalised service, and FNBO shares our belief in authentic relationships, local decision-making and doing what is right for customers and communities.
“We believe this next chapter will create new opportunities for our customers and associates while carrying forward the values that have shaped InBank.”
The agreement also brings four InBank locations in northern New Mexico into FNBO’s branch system.
InBank has assets of $1.4bn and operates as an independent community lender providing commercial, business and personal banking services.
The rebranding of InBank branches and the transfer of customers to FNBO are expected in the second half of 2027.
Completion of the acquisition remains dependent on standard closing requirements, including regulatory clearances.
FNBO chairman and president Clark Lauritzen said: “InBank is strategically and culturally aligned with FNBO and represents an important step in our thoughtful expansion.
“Its experienced team, trusted customer relationships and entrepreneurial culture provide a meaningful foundation as we welcome new customers and communities to FNBO.”
