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Omaha Financial completes acquisition of Midlands Financial Services

Omaha Financial Holdings, has completed the acquisition of Midlands Financial Services, a holding company for Nebraska State Bank, and will convert its three Omaha banks into Mutual of Omaha Bank locations.

The financial terms of the Nebraska State Bank transaction were not disclosed. No significant changes in the banks’ management and personnel are anticipated.

Jeff Schmid, president and CEO of Omaha Financial Holdings, said: Having a strong, full-service community bank in Omaha is the cornerstone of our strategy, which make this acquisition and the opening of our headquarters key milestones. We’re now ready to focus on offering consumers and commercial customers the best banking experience in the city.

Mike Homa, president and COO of Mutual of Omaha Bank, said: The Nebraska State Bank acquisition gives us a solid platform to emphasize commercial services such as cash management and commercial real estate lending through our flagship bank on the Mutual of Omaha campus as well as our banks in Nebraska and Colorado.