Mutual of Omaha Insurance Co. has struck its third community bank buyout deal since forming a banking subsidiary in January.
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The insurance giant announced Friday that Omaha Financial Holdings had agreed to buy the $262 million-asset Midlands Financial Services Inc. of Omaha. The price was not disclosed.
Midlands is the parent of Nebraska State Bank, which would become Mutual of Omaha Bank. The deal is expected to be completed in 90 to 120 days.
In May the company announced deals to buy the $208 million-asset Peak National Bank of Golden, Colo., and the $122 million-asset Security Federal Savings of Lincoln, Neb.
