First Westroads Bank
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Founded | 1967 |
| Headquarters | Omaha , United States |
Area served | Omaha, Nebraska |
Key people | Chris J. Murphy (Chairman), Mark Ellerbeck (President & CEO) |
| Products | Personal banking, Commercial banking, Investment services |
First Westroads Bank operates as a community-focused financial institution based in Omaha, Nebraska, with a presence through two branch locations. It delivers a range of services including personal and commercial banking, as well as investment solutions via its subsidiary, First Westroads Investment Centre. The institution has consistently earned a 5-star rating from Bauer Financial for 87 straight quarters.
History
Established in 1967 as an independent suburban commercial bank, First Westroads Bank began its operations from a trailer situated at Westroads Shopping Center. By 1968, it relocated inside the "270 Italia Mall" premises. A drive-thru facility connected by an underground passage was introduced and later transformed into a manual drive-in service in 1973.
In January 1977, the bank expanded by launching a second branch featuring a three-lane drive-up at 10855 West Dodge, known as the "Old Mill" headquarters. Ownership changed in 1979 when United Bancshares of Nebraska acquired the bank, retaining control until 1990. At that time, Ameriwest, under current proprietors Chris and Betsy Murphy, took over.
Following interim arrangements, the Westroads Mall Branch secured a permanent location at 612 N. 98th Street in 2002. The main corporate office transitioned from Old Mill to 15750 West Dodge Road in March 2005.
First Westroads Bank demonstrates strong community engagement by collaborating with Aldrich Elementary School and Kiewit Middle School within Millard Public Schools through the Project PAYBAC initiative.
Financial performance
The bank has been acknowledged as a Top Performing Community Bank by the American Bankers Association Banking Journal, evaluated on metrics such as profitability, asset integrity, and capital adequacy. Additionally, it has upheld a 5-star financial strength rating from Bauer Financial for 87 consecutive quarters as of March 2016.
Executive Board
The executive leadership team in 2023 comprises:
- Chris J. Murphy – Chairman, First Westroads Bank
- Mark Ellerbeck – President & CEO, First Westroads Bank
- John M. Blazek – President, JMB Capital, LLC
- Robert Dalrymple – Retired EVP, Great Plains Division at Bank of the West
- Daniel J. Murphy – Vice President of Business Development, First Westroads Bank
- Thomas K. Nichting – Managing Director, Red Diamond Capitol
- Stephen F. Robinson – Former President, First Westroads Bank
- Gary K. Witt – Shareholder and Consulting Director at Lutz & Company
- John Nahas – President, Corporate Management Consulting
Bank Officers
As of 2023, principal officers include:
| Name | Position |
|---|---|
| Chris J. Murphy | Chairman |
| Mark Ellerbeck | President and CEO |
| Margie Heller | Chief Financial Officer |
| Carl E. Bartholomew | Senior Vice President |
| Timothy J. Riha | Senior Vice President |
| Daniel J. Murphy | Vice President Business Development |
| Cheri K. Novak | Vice President Loan Operations |
| Ken Wray | Vice President |
| Denise Bond | BSA Officer / Operations Manager |
| Kelley Baldwin | Human Resources Officer |