Heritage Group of Nebraska has a deal to double its assets by buying a bank that First Commerce Bancshares of Lincoln, Neb., is divesting.
First Commerce announced Monday that it would sell City National Bank and Trust Co. in Hastings, Neb., to Heritage, which has six locations in central Nebraska. City National has $200 million of assets. Heritage Group, which owns Heritage Bank, has $400 million.
The price was not disclosed. The deal is expected to close in late June.
City National would retain its name and operate independently, the companies said. First Commerce, which has $2.6 billion of assets, is divesting it to avoid antitrust obstacles to its own upcoming sale to Wells Fargo & Co. That deal was announced in February.
