Mutual of Omaha Bank has taken over a Florida bank that failed Friday.
The Florida Office of Financial Regulation declared the bank, Marco Community Bank, Marco Island, Fla., to be insolvent, and it named the Federal Deposit Insurance Corp. as the receiver.
Mutual of Omaha Bank, part of Mutual of Omaha Insurance Company, Omaha, Neb., says it has taken over all of Marco Community Bank’s deposits and loans.
The assumed obligations include those that exceed the FDIC insurance limit, Mutual of Omaha Bank says.
Mutual of Omaha Bank has assumed about $120 million in assets and about $117 million in deposits.
No depositor lost money as a result of the failure, according to Mutual of Omaha Bank.
Mutual of Omaha Bank has been opening community banks in fast-growing markets where Mutual of Omaha has a strong brand presence and a base of insurance customers, says Kevin Hale, the bank’s community banking director.
Mutual of Omaha Bank now has more than $4 billion in assets and banking operations in Arizona, California, Colorado, Florida, Nebraska, Nevada and Texas. The bank also has loan offices in Iowa and Kansas.
Mutual of Omaha Bank recently opened a new banking operation and Florida state headquarters office in Naples, Fla. The bank plans to open a banking operation in Tampa, Fla., in March