First National Bank of Omaha

First National Bank Omaha

Company type	Subsidiary
Industry	Banking, Financial services
Founded	1857
Founder	Herman Kountze, Augustus Kountze
Headquarters	Omaha , United States
Area served	Eight Midwestern states, United States
Key people	Clark Lauritzen (President and CEO)
Products	Corporate banking, investment banking, retail banking, wealth management, consumer lending, credit cards
Owner	Lauritzen family (via First National of Nebraska, Inc.)
Parent	First National of Nebraska, Inc.

First National Bank Omaha (FNBO), based in Omaha, Nebraska, operates as a subsidiary of First National of Nebraska, Inc., a banking holding company chiefly controlled by the Lauritzen family. It stands as one of the largest banks in the United States and holds the distinction of being the oldest national bank headquartered west of the Missouri River.

FNBO delivers a range of financial services including corporate banking, investment banking, retail banking, wealth management, and consumer lending through a network of 120 branches spanning eight Midwestern states. Additionally, it manages FNBO Direct, an online banking platform. The bank is recognized as a significant credit card issuer, collaborating with brands such as Amtrak, Major League Lacrosse, World of Warcraft, and Scheels All Sports.

History

Established in 1857 by immigrant siblings Herman Kountze and Augustus Kountze under the name Kountze Brothers Bank, the institution secured national charter #209 in 1863, adopting the name First National Bank of Omaha. Edward Creighton, an early investor, also served as president during its formative years.

In 1953, under John Lauritzen’s guidance, FNBO became one of the pioneering U.S. banks to introduce credit cards. The bank restructured in 1968 by forming the holding company First National of Nebraska, Inc., which facilitated investments in real estate.

The bank’s relocation to the 22-story First National Center in 1971 contributed to economic revitalization in downtown Omaha. Bruce Lauritzen assumed the presidency in 1987.

In 2000, FNBO allocated land for two prominent sculpture parks in Omaha to foster community involvement. The completion of the First National Bank Tower in 2002 marked it as the tallest structure between Chicago and Denver.

Leadership transitioned through Rajive Johri (2006–2009), Dan O'Neil (2009–2017), followed by Clark Lauritzen from 2017 onward.

Operational efficiencies were achieved by consolidating charters from regional banks—including First National Bank of Colorado, Kansas, Illinois (2010), and South Dakota (2014)—under FNBO’s Omaha charter.

Between 2010 and 2011, FNBO divested its merchant acquiring business to TSYS for $150.5 million and subsequently transferred full ownership.

Responding to customer feedback after the Parkland shooting, FNBO discontinued its credit card affinity partnership with the NRA in 2018.

In an effort to refresh its brand identity, the bank adopted the abbreviated name FNBO in 2020.

Acquisition history

#	Year	Company	Ref(s).
1	REDIRECT Template:Date table sorting	David City Bank
2	REDIRECT Template:Date table sorting	First Security Bank & Trust Co.
3	REDIRECT Template:Date table sorting	First of Omaha Savings Co.
4	REDIRECT Template:Date table sorting	First State Bank
5	REDIRECT Template:Date table sorting	Mills County Bank
6	REDIRECT Template:Date table sorting	Infibank
7	REDIRECT Template:Date table sorting	Western State Bank
8	REDIRECT Template:Date table sorting	SAF Holdings, LLC and its wholly owned subsidiary AmeriFirst Home Improvement Finance, LLC

Office locations

Prominent FNBO offices are situated at the following sites:

• First National Business Park
• First National Center
• First National Bank Tower

Misleading promotion of credit card ancillary services

In August 2016, First National Bank of Omaha was sanctioned for unfair billing practices and deceptive advertising concerning credit card add-on products, including services such as credit monitoring and debt relief that customers never actually received. The institution was mandated to allocate $27.75 million toward consumer restitution and to remit $7.5 million in civil penalties jointly to the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency.

1978 interest rate litigation

In 1969, Fred Fisher from Iowa was sent an unsolicited BankAmericard by First National Bank Omaha (FNBO) bearing an 18% interest rate, which surpassed Iowa’s legal cap of 9%. Fisher initiated a lawsuit against FNBO in 1971 and initially prevailed, but the ruling was appealed. At the same time, Marquette Bank Minneapolis filed suit against FNBO for imposing interest rates on Minnesota residents that exceeded the state’s 12% threshold. The dispute escalated to the United States Supreme Court, which determined that the National Bank Act preempts state usury restrictions, permitting national banks to apply interest rates according to their home state’s laws. This landmark decision prompted many states to relax usury limitations, enabling state-chartered banks to compete more effectively with national banks. For instance, South Dakota abolished these caps entirely, attracting numerous prominent banks to relocate their credit card operations there.

See also

• Economy of Omaha, Nebraska