First State Holding Co. (“First State”), the holding company for First State Bank Nebraska, announced today that First State has entered into a definitive agreement to acquire Plattsmouth State Bank of Plattsmouth, NE. First State anticipates the transaction will close in early Q2 2020. First State Bank Nebraska and Plattsmouth State Bank will be operated separately for a period of time.
The transaction joins two banks that are customer-focused with long histories of commitment to local communities.
Under the agreement, First State will acquire both Plattsmouth State Bank locations, increasing the total number of locations of First State’s subsidiary banks to 18. Additionally, Schneider Agency, an affiliate of Plattsmouth State Bank, will merge into First State Insurance Agency in a related transaction.
“We are proud to be a part of so many vibrant communities,” said Tom Damkroger, Chairman of First State. “We care about the customers and communities we serve and we are excited to deepen our Nebraska roots. Plattsmouth State Bank has been dedicated to excellence in customer experience and we look forward to being part of the Plattsmouth community.”
Lori Schneider, President of Plattsmouth State Bank, stated, “Joining the First State family opens new doors for our loyal customers and employees. First State is committed to furthering the care and attention our customers know and trust and we take pride in knowing that the core values will remain the same.”
Plattsmouth State Bank is a customer-centric community bank and recently celebrated 115 years serving the greater Plattsmouth community. It has approximately $100 million in assets as of December 31, 2019.
First State Bank Nebraska is a locally owned bank with $600+ million in assets and more than 15 locations throughout eastern Nebraska. First State is dedicated to the communities it serves through philanthropic and community betterment efforts, connecting entrepreneurs with capital to fuel growth and employing a passionate team of around 150.
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