FNBO Expands Westward by Buying Denver’s InBank
First National Bank of Omaha is continuing its expansion push by acquiring Colorado’s InBank. The roughly $200 million deal, announced by the bank (FNBO) Wednesday (Sept. 2), is designed to expand its presence in Colorado with nine new branches, giving it a footprint in Denver, Colorado Springs and southern Colorado. “InBank is strategically and culturally aligned with FNBO and […] The post FNBO…
First National Bank of Omaha (FNBO) is expanding its presence in Colorado by acquiring InBank, as announced on September 2. The $200 million deal adds nine new branches to FNBO's footprint, providing services in Denver, Colorado Springs and southern Colorado. FNBO Chairman and President Clark Lauritzen stated that InBank's alignment with FNBO is both strategic and cultural, with an experienced team, trusted customer relationships and an entrepreneurial spirit allowing FNBO to welcome new customers and communities.
InBank currently has $1.4 billion in assets and provides commercial, business and personal banking services. Founder and CEO Ed Francis emphasized the importance of authentic relationships and local decision-making that InBank shares with FNBO. This acquisition follows FNBO's May plan to expand its presence in Kansas City, Missouri, by acquiring Blue Ridge Bank and Trust Co. As consumers increasingly distribute their financial accounts among various institutions and apps, banks face challenges in account primacy and maintaining comprehensive knowledge of their customers' finances.
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