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Mutual Of Omaha To Acquire Nebraska Savings Bank

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The insurer that sponsored the Wild Kingdom television series is assembling its own menagerie of banks.

Omaha Financial Holdings Inc., a unit of Mutual Omaha Insurance Company, Omaha, Neb., has agreed to acquire Security Federal Bank, Lincoln, Neb., a federally chartered savings bank that specializes in making real estate loans.

The Mutual of Omaha banking operation says it hopes to get the approvals it needs to complete the deal by the end of October.

Mutual of Omaha and Security Federal are not announcing the price of the deal.

Omaha Financial also recently announced plans to acquire Peak National Bank, Golden, Colo., a small bank in the Denver area, and it has been talking about plans to build a national community bank network.

“The acquisition of Security Federal provides our banking operation with expertise in mortgage lending, which we can extend to our other locations,” says Jeff Schmid, president of the Mutual of Omaha banking subsidiary.


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