An $8.4 billion-asset Nebraska bank said it has bought a $49-million credit card portfolio from a Florida credit union.
First National of Nebraska Inc., a closely held Omaha bank, said this week that it had completed the purchase from $1.1 billion-asset Eastern Financial Federal Credit Union of Miramar, Fla.
As part of the deal, the credit union entered into an alliance with First National in which the bank would issue all of Eastern Financial's future credit cards and administer the accounts. First National said it expects to convert the accounts acquired from the 155,000-member credit union to its system by October.
