First National of Nebraska is an 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 4320 employees. 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.
History of First National of Nebraska
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.
Ownership of First-National of Nebraska
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. The Lauritzen Corporation has an approximate 28% voting share in First National-of Nebraska, Inc.
Board of directors in First National-of Nebraska
The Board of Directors is run by Clark 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.
- Clark D. Lauritzen, President
- Margaret Lauritzen Dodge
- Roger A. Fleury
- George J. Behringer
- John W. Castle
- Thomas C. Stokes
- Bryan E. Slone
National business rankings
- Fifth-largest in-house credit card processor
- The top-ten commercial card issuer
- The eleventh-largest issuer of bank cards in the United States
- Top-twenty electronic funds processor
- The fifth-largest agricultural lender with customers in 49 states
- Largest commercial bank finance provider to the ethanol industry
Sponsorships of First National of-Nebraska
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)