Premier Bancshares to Buy Farmers Bank in Nebraska

By Paul Davis February 04, 2015, 9:35 a.m. EST 1 Min Read

Premier Bancshares in Omaha, Neb., has agreed to buy Farmers Bank and Trust in Nebraska City.

The $146 million-asset Premier plans to complete the acquisition by March 31, Chris Maher, the company's president and chief executive, told the Omaha World Herald. Financial terms were not disclosed.

Farmers Bank has one branch and $51 million in assets.

Mark Marcotte, a Farmers Bank vice president, told the Omaha publication that his father, the bank's owner, Arvon Marcotte, is ready to retire. The family agreed to sell the bank rather than transition the leadership to a new generation.

Premier was created in 2011 when Purdum State Bank bought the failed Mid City Bank.

Paul Davis

MORE FROM AMERICAN BANKER

Consumer banking

20 banks and thrifts with the most assets

The top five banks and thrifts have combined total assets of nearly $13 trillion.

Just now
Bank stocks

Climate change, stifled mergers and other challenges facing banks and investors

Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.

By Courtney Hoff Dockerty

5m ago
Payments

Where check fraud is driving businesses to adopt digital payments

A new Citizens Bank survey suggests rising check-fraud incidents are driving middle-market companies to accelerate plans to fully adopt digital payments. But 70% of all businesses will continue to rely on checks for years to come, according to recent data from the Association for Financial Professionals.

By Kate Fitzgerald

3h ago
Investment banking

Truist gets an earnings boost from its investment banking unit

After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.

By Allissa Kline

April 22
Regulation and compliance

Security, trading, supervision among open issues at Fed, audit finds

The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.

By Kyle Campbell

April 22
Payments

JPMorgan Chase's plan for face and palm payments

The bank will use biometric authentication to streamline checkout in stores starting in 2025. It has already completed internal and external pilots of the technology.

By Robin Arnfield

April 22