Mutual of Omaha Bank

[Coyote]

Mutual to enter banking business

Jeffrey Schmid has left his job as president of American National Bank of Omaha to head up an effort by Mutual of Omaha to enter the banking business.

The new subsidiary has no banking assets but is a formal step to put Mutual in a position to act on any opportunities that arise, such as acquiring or forming a bank, Nolan said.

Such a bank, if formed, would at the least offer banking services online or by telephone, Neary said at the time, and may be a brick-and-bank as well. He said a Mutual of Omaha bank would have a strong brand image to attract customers.

[DTO Luv]

I'm pretty excited by this. If that bank gets going pretty well I might look into switching over there.

[Insider]

Mutual Of Omaha Bank

Several Top ranking officials including one executive resigned from American national Bank today to join the newly formed Mutual of Omaha Bank.

They join a previously resigned American National Executive at the Mutual Of Omaha Bank.

Moderators, please post a link in the other threads about Mutual Of Omaha Bank to this thread.

[NovakOmaha]

Kinda pushy...my experience with that kind of attitude is that "the virgin looks pregnant"

[Guest]

I've been tracking corporation registration papers in Nebraska for the past 8 months and haven't seen any sign of a full fledged "Mutual"  bank....maybe an investing arm though.  who knows?

[Omaha Cowboy]

Kinda pushy...my experience with that kind of attitude is that "the virgin looks pregnant"

 ..

..Ciao..LiO....Peace

[NovakOmaha]

Kinda pushy...my experience with that kind of attitude is that "the virgin looks pregnant"

 ..

..Ciao..LiO....Peace

I knew you'd catch that Lou...how many times have we seen this over the years.  Remember when Southwest was going to make Omaha a focus city?  That one panned out well, didn't it?

[Omaha Cowboy]

I knew you'd catch that Lou...how many times have we seen this over the years.  Remember when Southwest was going to make Omaha a focus city?  That one panned out well, didn't it?

Exactly..

..Ciao..LiO....Peace

[insider]

Please explain, I don't get the inside lingo.....

[DTO Luv]

What's the rumor? Mutual is starting a bank. I work for Mutual and would like to get over there when it's up and running.

[omaproud]

This should definitely be moved from the Rumors Section.

[insider]

I wish people would read more than the last post.

Look at the first post.  I asked the Moderators to link this thread to the existing thread.  Everyone already knows about the Bank, its been in the paper several times.  As the insider, I was posting under the cover of secrecy about the Big Shots at American National going to Mutual.

[OmahaChef]

Goodness, somebody didn't get their afternoon snack break.  If they handed in their resignation, then it really isn't a rumor.  May as well be posted in the MOO Bank thread.

[Coyote]

MoA enters Banking Industry

[Coyote]

Executives rumor: Mutual Of Omaha Bank

[Brad]

Three joining Mutual's new banking operation

http://www.omaha.com/index.php?u_page=1 ... id=2338296

Three former officers of American National Bank are joining a former colleague at Mutual of Omaha's new banking venture.

Mike Homa will be president and Tod Ellis will be chief credit officer of a new bank to be located in Omaha, Mutual said. Margie Heller will be chief financial officer of Omaha Financial Holdings Inc., Mutual's new banking subsidiary.

At American National, Heller was chief financial officer, and Homa and Ellis were executive vice presidents and lending officers.

John Kotouc, chairman and chief executive of American National, thanked the three for their years of service and said he wishes them well.

Kotouc said Homa and Ellis have notified American National customers of the change, sending them letters that say, in part, "Without reservation, I believe that American National continues to be the best bank for your banking relationship."

Kotouc said American National's operations and level of customer service would not change. The former officers' duties have been reassigned, Kotouc said, and he is looking within the bank's existing staff for permanent successors.

At Mutual, the three will be part of a management team headed by Jeffrey Schmid, former president of American National Bank and now president and chief executive of Omaha Financial Holdings.

Schmid said the three appointments, to be effective this week, reflect the quality of people Mutual intends to hire for the banking operation.

The management team will establish a flagship bank in Omaha and pick other markets for expansion though acquisitions, Schmid said. Mutual also plans to offer banking services electronically nationwide.

[Brad]

Mutual buying Colorado bank firm

http://www.omaha.com/index.php?u_page=1 ... id=2380626

Mutual of Omaha plans to start creating a nationwide community banking network by acquiring Colorado's 53rd largest bank, a seven-office institution based in Golden, just west of Denver.

And as soon as the purchase of Peak National Bank clears, Mutual wants to open a branch on its Omaha home office campus, said Mike Homa, president of Mutual's banking group. "We fully intend to be up and running on the Mutual of Omaha campus this year."

Peak National will keep its name, he said, but the Omaha office will have a new name, which he declined to disclose.

The bank will have Internet banking capabilities immediately, Homa said, but it may take 18 to 24 months to set up a high-tech Internet bank designed for use by all Mutual of Omaha customers.

[StreetsOfOmaha]

When they say it will be "on" the Mutual campus, I wonder if they mean new construction, or just an office or cubicle in one of the existing buildings.

[DTO Luv]

It will be in the new buildings.

[CapitalGuy]

It will be in the new buildings.

That is not what someone told me. I heard that it was supposed to be in the old building that is attached to the building fronting Farnam St.. Unless, that is just where the business/corporate portion of the bank will be located.

[DTO Luv]

They will have a branch location in the new buildings from what I've heard. But it may be Mutual First though. I don't know if they are going to seperate the banks though.

[CapitalGuy]

I don't know if they are going to seperate the banks though.

I don't follow this part. Which banks would they be separating?

[DTO Luv]

Mutual already has it's own credit union Mutual First. I don't know if they are going to merge that bank with the new ones they are going to acquire. One of the banks will have a branch in Midtown Crossing though.

[CapitalGuy]

Mutual already has it's own credit union Mutual First. I don't know if they are going to merge that bank with the new ones they are going to acquire. One of the banks will have a branch in Midtown Crossing though.

This I actually know the answer to. Mutual First actually no longer has any corporate ties to Mutual of Omaha. Because of a change in credit union regulations they were spun off a number of years ago. The credit union simply leases space in the Mutual HQ because of their prior relationship with Mutual of Omaha and because many of its account holders are still Mutual employees.

[Brad]

Mutual of Omaha to buy bank based in Lincoln

http://www.omaha.com/index.php?u_page=1 ... id=2389222

Mutual of Omaha said Wednesday it plans to buy Security Federal Bank of Lincoln, the second bank acquisition Mutual has announced this month as it builds a nationwide banking business.

Security Federal specializes in real estate loans, with two offices in Lincoln and an office at 11820 Nicholas St. It is not related to Security National Bank of Omaha.

Mutual did not say what it would pay for Security Federal, which would keep its Lincoln headquarters, management group and employees, about 35 people in all. The sale would close in about three or four months depending on regulators' approval.

Security Federal would give Mutual a federal thrift charter, allowing it to open offices anywhere in the country with relative ease, said Jeff Schmid, president and chief executive of Omaha Financial Holdings Inc., Mutual's bank holding company.

It's more difficult for a commercial bank to open offices in other states, he said, and Mutual intends for its bank to operate nationwide on the Internet and in physical offices in many states.

[CapitalGuy]

One of those offices would be on Mutual's home office campus as part of its Midtown Crossing development, now under construction, Schmid said.

I guess this answers are question DTO. I have to say I really like this move and about every other one since Neary has taken over. Mutual may slip for a time, but I think their long-term strategy is a good one.

[StreetsOfOmaha]

I don't know if it's been said here or in any of the articles, but do we know what the name of the new bank will be?

[DTO Luv]

The new bank will be called MuMu. Taking after Washington Mutual and WaMu.

[StreetsOfOmaha]

Haha.  That would be pretty funny.

[guy4omaha]

If they name it MuMu, perhaps they should hire the ad agency that helped Magnolia Hotels.

[DTO Luv]

From what I've seen at work the bank is called Omaha Financial Holdings.

[Brad]

Mutual of Omaha buys Nebraska State Bank

http://www.omaha.com/index.php?u_page=1 ... id=2401166

Mutual of Omaha announced its third bank acquisition today — its first in Omaha — and said it would open a headquarters bank under the name Mutual of Omaha Bank in an existing office building at 33rd and Farnam Streets.

The latest acquisition is Midlands Financial Services Inc., the holding company of Nebraska State Bank, which has three offices in the Omaha area and $270 million in assets.

Mutual is expanding its financial services beyond its traditional insurance business, with the goal of a national Internet bank, a network of community banks and a banking presence in Omaha.

The headquarters would be in what Mutual calls its South Building, which has a distinctive slanting glass atrium. Mutual is consolidating its other operations, which employ fewer people than several years ago, into its main home office building across the street. The company is renting space in the South Building to other tenants.

Mutual announced last month that it plans to acquire Security Federal Bank of Lincoln and Peak National Bank of Golden, Colo. All three acquisitions are awaiting approval of banking regulators and other conditions. Mutual has not disclosed the purchase prices.

Combined, the three would have assets of about $600 million, which would make Mutual's bank, which began in January, the seventh largest in the Omaha area.

Nebraska State Bank's headquarters is at 3211 N. 90th St. It has branches at 12374 West Center Road and 17041 Lakeside Hills Plaza.

[Brad]

Mutual of Omaha open for banking business

http://www.omaha.com/index.php?u_page=1 ... d=10167851

Mutual of Omaha is officially in the banking business.

The company's Omaha Financial Holdings Inc. division said Thursday it has acquired Security Federal Bank of Lincoln.

The purchase, for an undisclosed amount, is the first of three pending acquisitions to be completed. The two others are Nebraska State Bank in Omaha and Peak National Bank in Golden, Colo.

Security Federal, a federal savings bank with about $115 million in assets, specializes in real estate loans and savings accounts. It has two locations in Lincoln and one in Omaha, which will remain open. Mutual said it does not expect any management or personnel changes.

Using the acquired thrift charter, Mutual of Omaha Bank plans to expand its banking operations nationwide, said Jeff Schmid, president and chief executive of Omaha Financial Holdings.

[a42887]

Here's the 90th Street Branch all done up:

[Brad]

Mutual of Omaha Bank sets its sights on Texas

http://www.omaha.com/index.php?u_page=1 ... d=10294614

Mutual of Omaha Bank said Thursday that it hired an experienced Texas banker to open a network of bank offices in Texas, an important market for its national banking strategy.

Robert F. Strong, former president and chief executive of Regions Financial Corp. in Dallas-Fort Worth, is Mutual's new market president in Texas. He will lead a strategy of acquiring existing banks and forming a new bank there.

[Brad]

Mutual of Omaha takes over banks

http://www.omaha.com/index.php?u_page=1 ... d=10390877

CARSON CITY, Nev. (AP) — Twenty-eight branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators.

The banks, owned by Scottsdale, Ariz.-based First National Bank Holding Co., were scheduled to reopen Monday as Mutual of Omaha Bank branches, the Federal Deposit Insurance Corp. said.

The FDIC said that the takeover of the failed banks was the least costly resolution, and that all depositors — including those with funds in excess of FDIC insurance limits — will switch to Mutual of Omaha with "the full amount of their deposits."

[sincitybaby]

This was all over our news yesterday.  It's going to be cool to see an Omaha company in Vegas![/b]

[Omababe]

This was all over our news yesterday.  It's going to be cool to see an Omaha company in Vegas!

Omaha is all over Vegas.  Look around!

[Brad]

New Mutual of Omaha Bank branches open

http://www.omaha.com/index.php?u_page=1 ... d=10392538

The first day of business went smoothly Monday at 28 new Mutual of Omaha Bank branches, obtained by buying the deposits of two failed California-Arizona-Nevada banks, a spokesman for the Omaha company said.

"It’s really been business as usual," spokesman Jim Nolan said from Phoenix, where he was traveling with bank Chief Executive Officer Jeff Schmid. "We have had no panic, no lines. We have had people come into the banks as they normally would to make deposits or make withdrawals."

[Stargazer]

Makes you wonder if Mutual saw this all coming.