Midwest is best for First National of Nebraska, the largest privately owned bank holding company in the US. It's the parent of about 10 western and Midwestern banks, including First National Bank of Omaha, First National Bank (Colorado), First National Bank (South Dakota), First National Bank Southwest in Texas, and Illinois-based Castle Bank. Altogether the company has more than 90 banking locations in seven states that offer deposits, loans, credit cards, and other traditional banking services for individuals and businesses alike, with an emphasis on agricultural lending. First National of Nebraska also owns several non-banking financial services subsidiaries operating throughout the US.
First National of Nebraska and its affiliates have about $17 billion in managed assets. Those non-bank subsidiaries include InfiCorp, which performs credit card portfolio management services for banks and credit unions. The company has been busy expanding its credit card portfolio management business by inking card issuing deals with companies such as American Express and Discover. It also issues cards in conjunction with MasterCard and Visa. Other non-bank divisions include: First National Investment Banking; and First National Capital Markets, which acts as a broker-dealer for bank clients.
In an effort to sharpen its focus on banking and its credit card business, the company sold payment processing company First National Merchant Solutions to TSYS. It originally sold a 51% stake to that firm in 2010, and then sold the remainder of its interest the following year. First National of Nebraska also sold its Laser One printing and mailing division to First Data in 2010.
Chairman Bruce Lauritzen also owns the Lauritzen Corporation, another bank holding company. The Lauritzen family owns a majority of First National of Nebraska's common stock. – less