FNBO Acquires Country Club Bank in Midwest-Based Private Bank Merger

Nebraska-based lender FNBO is preparing to acquire Missouri’s Country Club Bank.

The company said the deal, announced Thursday (May 1), combines two privately owned, multi-generational banks into one institution serving the midwestern states.

“At FNBO, we know that long-term relationships are the cornerstone of community growth, and we were inspired by Country Club Bank’s shared commitment to that ideal,” Clark Lauritzen, FNBO’s chairman and president, said in a news release.

“This is an exciting opportunity to bring together the best of both FNBO and Country Club Bank, combining our strengths, expertise and commitment to customer service to create a stronger, more innovative financial partner for not only the Kansas City area, but the entire FNBO footprint,” he added.

Country Club Bank was founded in 1953 and has, per the release, gone from being a single commercial bank to a “multi-faceted financial institution” with $1.8 billion in deposits, $2.2 billion in assets and a trust company with $2.8 billion in assets under management.

FNBO, or First National Bank of Omaha, was founded in 1857 and is a subsidiary of First National of Nebraska, Inc. (FNNI), one of the largest privately held banks in the United States. FNNI and its affiliates have offices in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota, Texas and Wyoming, the release said.

Following the acquisition — expected to close this year, pending regulatory approval – Country Club Bank’s branches in Kansas and Missouri will be rebranded under the FNBO name.

In other banking news, recent PYMNTS Intelligence research examined the importance of interest rates among consumers choosing a bank.

That’s according to the study “How Financial Lifestyle Impacts Consumer Perception of High Interest Rates,” which found that two-thirds of consumers considered interest rates when it came time to pick a new bank.

Among the other key data points from the report: 66% of Americans were living paycheck to paycheck as of September. That represents a three percentage point increase from 2023, and the highest level since March of 2020.

And a notable 51% of paycheck-to-paycheck consumers who struggle to keep up with monthly expenses have no readily available savings, compared to just 4.3% of Americans who aren’t living paycheck to paycheck.

“Competitive interest rates are a consideration for 66% of all consumers when selecting a financial institution, though older, more financially stable consumers prioritize rates more than younger individuals who focus on brand reputation and rewards,” PYMNTS wrote.

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