First National Bank of Omaha

First National Bank Omaha

Company type	Subsidiary of First National of Nebraska, Inc., a bank holding company OTC Pink Current: FINN
Industry	Finance and Insurance
Founded	Omaha, Nebraska December 10, 1857 (as Kountze Brothers Bank); July 1, 1865 (First National Bank Omaha)
Headquarters	First National Bank Tower Omaha, Nebraska, United States
Key people	Clark Lauritzen, President
Products	Financial services
Total assets	$30.78 billion (2024)
Parent	First National of Nebraska
Website	www.fnbo.com

First National Bank Omaha d/b/a FNBO is a bank headquartered in Omaha, Nebraska. It is a subsidiary of First National of Nebraska, Inc., a bank holding company primarily owned by the Lauritzen family. It is on the list of largest banks in the United States and is the oldest national bank headquartered west of the Missouri River.

The bank provides corporate banking, investment banking, retail banking, wealth management and consumer lending services and operates 120 branches in 8 states in the Midwestern United States. It also operates FNBO Direct, a direct bank. The bank is one of the largest issuers of credit cards, issuing cards under affinity programs with Amtrak, Major League Lacrosse, World of Warcraft, and Scheels All Sports.

History

Two immigrant brothers from Ohio, Herman Kountze and Augustus Kountze, founded the bank as Kountze Brothers Bank in 1857. It traded primarily in gold dust and bison hides. The bank received national charter #209 in 1863 and began doing business as First National Bank of Omaha. It brought in additional investors, including Edward Creighton, who served as president.

In 1953, under the leadership of John Lauritzen, First National Bank became the first bank in the region and the fifth in the nation to issue credit cards.

In the 1960s, due to an investment in real estate not permitted under a straight banking charter, the bank reorganized as a subsidiary of the bank holding company, First National of Nebraska, Inc.

In 1971, employees started moving into the 22-story First National Center. Attached to a 420-room hotel and a 550-stall parking garage, it became one of the most modern buildings in the region, providing economic development in downtown Omaha.

First National Park
Spirit of Nebraska's Wilderness

In 2000, First National Bank designated two parcels of green space for the city of Omaha. They are the current sites of two sculpture parks called "Spirit of Nebraska's Wilderness" and "Pioneer Courage". Working in tandem, the two sculptures join to make one of the largest bronze sculptures in the world.

In 2002, First National Bank completed construction on the First National Bank Tower, the tallest building between Chicago and Denver.

On September 30, 2010, First National of Nebraska consolidated its bank charters of First National Bank of Colorado, in Fort Collins, Colorado; First National Bank of Kansas, in Overland Park, Kansas; and Castle Bank, in DeKalb, Illinois, with its First National Bank of Omaha charter.

In 2010, the bank sold a 51% interest in its merchant acquiring business to TSYS for $150.5 million. TSYS acquired the remaining 49% of the business the following year.

On February 22, 2018 the bank announced it would not renew its contract with the National Rifle Association of America (NRA) as a result of customer feedback after the Stoneman Douglas High School shooting in Florida. The bank had offered special branded Visa cards to NRA members to support the group.

In 2020, the bank changed its branding to FNBO from First National Bank of Omaha.

Acquisition history

#	Year	Company	Ref(s).
1	1984	David City Bank
2	1988	First Security Bank & Trust Co.
3	1989	First of Omaha Savings Co.
4	2000	First State Bank
5	2008	Mills County Bank
6	2010	Infibank
7	2022	Western State Bank
8	2022	SAF Holdings, LLC and its wholly owned subsidiary AmeriFirst Home Improvement Finance, LLC

Historical leadership

Presidents

Presidents
Years	President
1863–1874	Edward Creighton
1875–1906	Herman Kountze
1906–1907	John A. Creighton
1907–1914	Charles T. Kountze
1914–1934	Frederick H. Davis
1935–1948	Thomas L. Davis
1948–1953	Fred W. Thomas
1953–1966	John F. Davis
1966–1970	John R. Lauritzen
1971–1986	F. Phillips Giltner
1987–?	Bruce R. Lauritzen
2006–2009	Rajive Johri
2009–2017	Dan O'Neill
2017–present	Clark Lauritzen

First National Bank Colorado

Since 1881, First National Bank has been in business in Colorado. First National Bank of Fort Collins was formed on May 15, 1934 with the original name of First National Bank. Its name was changed to First Interstate Bank of Fort Collins, National Association on June 1, 1981. On June 13, 1994, the name was changed back to First National Bank. Union Colony Bank in Greeley, Colorado was acquired by First National Bank February 15, 2008. On February 15, 2008, First National Bank of Colorado, First National Bank of Fort Collins and Union Colony Bank merged under First National Bank Colorado.

First National Bank Kansas

First National Bank of Kansas (FNBK) was chartered in 1993 when FNNI purchased approximately $80 million deposits from a failed financial institution. The bank purchased additional deposits approximating $220 million from another financial institution in 1994.

Buildings

First National Bank Tower

The Northern Natural Gas Building is located at 2223 Dodge Street in Omaha, Nebraska, United States. It is a 260ft (79 m), 19-story skyscraper. This building housed the credit card operations until the opening of the First National Tower in 2002.

First National Business Park is located at just north of Boys Town in West Omaha. First National Business Park is located at 144th & Dodge Streets. First National Bank occupies 14010 FNB Parkway. There is also a bank branch located at the business park at 14310 FNB Parkway. Valmont Industries has their corporate headquarters located at One Valmont Plaza, which is also located in the Business Park. It was announced on October 23, 2008, that Yahoo will be coming to the Omaha Metro Area. Yahoo stated that the First National Business Park will be the home to the customer care center that should open next April.

First National Center is a 22-story office building in downtown Omaha. The building is attached to a 420-room hotel and a 550-stall parking garage. The First National Center is located at 1620 Dodge St in downtown Omaha. The hotel that is joining the First National Center is the Doubletree Hotel.

With the completion of the First National Technology Center, FNBO became the first business in the country to utilize hydrogen fuel cells. In 2008, ComputerWorld named First National of Nebraska as the third best in a top 12 list of "Green-IT Companies"

In 2012, First National Bank of Omaha upgraded its fuel cell system to a PureCell Model 400. The fuel cell is installed in the main floor of the building and provides 400kW of heat and power to the facility.

The First National Bank Tower is a 634 ft (193 m), 45-story skyscraper at 1601 Dodge Street in downtown Omaha. Built in 2002, it is currently the tallest building in Nebraska, as well as the tallest building between Minneapolis and Denver. It was built on the site of the former "Medical Arts Building" which was imploded on April 2, 1999. Inside the glass lobby is a large section of the ornamental facade from the former "Medical Arts Building".

Controversies and legal issues

Deceptive marketing of credit card add-on products

In August 2016, First National Bank of Omaha was disciplined for numerous deceptive marketing and unfair billing practices regarding credit card add-on products such as credit monitoring, identity theft monitoring, and debt relief products and services that they did not receive. The bank was ordered to provide $27.75 million in relief to roughly 257,000 consumers and a $4.5 million civil money penalty to the Consumer Financial Protection Bureau as well as a $3 million civil money penalty to the Office of the Comptroller of the Currency.

Interest rate lawsuit (1978)

Main article: Marquette Nat. Bank of Minneapolis v. First of Omaha Service Corp.

Fred Fisher, a resident of Iowa, received an unsolicited BankAmericard from First National Bank Omaha in February 1969. Fisher filed a complaint against the Omaha bank on September 3, 1971, for exporting Nebraska's higher interest rates to his state. He told the U.S. District Court that since the Iowa legislature had fixed the usury ceiling at 9%, First National was breaking the law by charging him 18% for advance of up to $500. Marquette threatened by taking the Omaha bank to the U.S. Supreme Court if necessary. The Marquette bank offered credit cards for a $10 fee at a flat rate of 12% interest on outstanding credit. First National required no fee and it charged 18% interest for credit up to $500 and 12% on all additional balances.

Marquette began to lobby for the passage of a state law designed to put a 12% ceiling on all bank credit cards. In May 1976, about one month after that measure was signed into law, Marquette filed a suit to make its Omaha rival conform to the 12% limit. The decision maintained that the 115-year-old National Bank Act takes precedence over usury statues in individual states. Justice William J. Brennan Jr. wrote that the 1863 law permitted a national bank to charge interest at the rate allowed by the regulations of the state in which the lending institution is located. On July 25, 1979, the Iowa Supreme Court overturned their decision that was made on August 30, 1978.

See also

• Economy of Omaha, Nebraska