First National of Nebraska and its subsidiary FNBO have entered into a definitive agreement to acquire InBankshares and its wholly owned subsidiary InBank in an all-cash transaction valued at an estimated $200 million to $204 million.
InBankshares currently estimates that its common stockholders will receive between $16.41 and $16.74 per share, although the final consideration will depend on factors including InBankshares’ tangible equity at closing.
Stockholders may also receive a special dividend immediately before closing, with the final dividend and cash consideration determined under the merger agreement.
The acquisition will substantially increase FNBO’s Colorado presence by adding nine branches along the Front Range, including new locations in Denver, Colorado Springs and southern Colorado.
Combined with FNBO’s 21 existing Colorado branches, the transaction will increase the bank’s statewide network to 30 branches. FNBO will also acquire four InBank branches in northern New Mexico.
InBank has approximately $1.4 billion in assets and provides commercial, business and personal banking services.
The transaction remains subject to regulatory approvals and other customary closing conditions, with regulatory approval anticipated by the end of 2026.
InBank’s branch rebranding and customer conversion to FNBO are expected during the second half of 2027.
FNBO’s parent, First National of Nebraska, and its affiliates have approximately $35 billion in assets and more than 4,500 employees. The deal follows FNBO’s previously announced acquisition of Blue Ridge Bank & Trust in Missouri, which added eight branches in the Kansas City metropolitan area.
KEY QUOTES:
“InBank is strategically and culturally aligned with FNBO and represents an important step in our thoughtful expansion. Its experienced team, trusted customer relationships and entrepreneurial culture provide a meaningful foundation as we welcome new customers and communities to FNBO.”
Clark Lauritzen, Chairman and President of FNBO
“InBank was built with a commitment to delivering highly personalized service, and FNBO shares our belief in authentic relationships, local decision-making and doing what is right for customers and communities. We believe this next chapter will create new opportunities for our customers and associates while carrying forward the values that have shaped InBank.”
Ed Francis, Founder and CEO of InBank
