On August 31, Centennial Bank and Omaha State Bank finalized their merger. These two, locally-owned community banks have a rich heritage of serving personal and business banking customers in the Omaha, Bellevue, and Ashland communities. On September 3rd, the banks opened for business as Core Bank. Combined, the organization has a robust presence; nine retail branch locations, commercial lending, a mortgage loan production office, a title & escrow company, and a trust company.
This union provides customers increased credit capacity and geographically expanded access to comprehensive banking products and services. For most customers, there will be little to no change in the way they conduct their banking business, or in the staff handling their relationship; yet the organization’s capacity to do business with them is greatly enhanced. Based on financial results as of June 30, 2013, the combined company would have total assets of $354 million, deposits of $296 million and loans of $313 million. The merger creates the tenth largest bank in Omaha by deposit market share. Core Bank’s leadership team will be comprised of individuals from both organizations. John Sorrell will serve as the President and Chief Executive Officer. Additionally, the board of directors will be comprised of representatives from the former Centennial Bank and Omaha State Bank boards.
For more information about how Core Bank can serve you, visit corebank.com.