BRIEF: Mutual of Omaha opens its banks today

Nov. 5--Mutual of Omaha's banking division today completed its purchase of Nebraska State Bank and converted its three locations to Mutual of Omaha Bank offices.
The purchase of the Nebraska State Bank's holding company, Midlands Financial Services Inc., is the third bank acquisition in the past 12 days for Mutual, whose banking operation now has $650 million in assets, 175 employees and 14 offices in Omaha, Lincoln and the Denver area.
Mutual has said it plans to acquire more banks and establish a regional network of bank offices, plus a national Internet-based bank. The company has not announced additional bank purchases yet. Mutual did not disclose terms of its purchases.
Mutual of Omaha Bank's headquarters is at 33rd and Farnam Streets, occupying part of an office building the insurance company recently renovated.
Mutual's bank holding company, Omaha Financial Holdings, also has acquired Peak National Bank of Golden, Colo., changing its name to Mutual of Omaha Bank, and Security Federal Bank of Lincoln, which will retain its name.
Jeff Schmid, president and chief executive of Omaha Financial Holdings, said he expects no significant changes in management and personnel.
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