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Nebraska Department of Banking and Finance Closes Mid City Bank, Inc., Omaha

Nebraska Department of Banking and Finance Closes Mid City Bank, Inc., Omaha

Friday, November 4, 2011

Lincoln, Neb., November 4 – The Nebraska Department of Banking and Finance (NDBF) announced that at 6:00 p.m. today it closed Mid City Bank, Inc., Omaha, Nebraska. The bank’s four branch offices, also located in Omaha, Nebraska, were simultaneously closed. The NDBF had been closely monitoring the bank for some time and recently made a demand for a capital injection, which was not met. The Department named the Federal Deposit Insurance Corporation (FDIC) as receiver of the bank. The FDIC has entered into a purchase and assumption agreement with Purdum State Bank, Purdum, Nebraska, which will change its name to “Premier Bank.” The transaction includes the assumption of all customer deposits. All offices of the bank will be open for business on Saturday, November 5, under the new name, Premier Bank. Premier Bank is owned by the Greg Stine family.

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