Lauritzen Corporation
| Company type | Private |
|---|---|
| Industry | Financial services, Banking |
| Founded | 1947 |
| Founder | John Lauritzen |
| Headquarters | Omaha , United States |
Area served | Nebraska, Iowa |
Key people | Clark Lauritzen (Chairman and President), Bruce R. Lauritzen (former CEO and Chairman, deceased 2024) |
| Products | Banking, Insurance, Financial services |
Number of employees | 7500+ (2024) |
| Website | www |
Lauritzen Corporation is a privately owned financial and interstate bank holding company based in Omaha, Nebraska, United States. The company manages banking operations in Nebraska and Iowa, with total assets estimated at approximately $1.36 billion. In addition to its banking activities, Lauritzen Corporation oversees five holding companies along with 15 subsidiaries specializing in insurance and financial services. It possesses nearly 28% of the voting shares in First National of Nebraska, Inc. and is ranked among the top 50 U.S. banks by deposit volume, as well as within the top 200 U.S. banks according to The Banker.
History
John Lauritzen began his banking journey in 1947 by acquiring a bank in Emerson, Iowa at the age of 28, making him the youngest bank president in the nation at that time. He funded this purchase with $17,000 of his own capital supplemented by an additional $17,000 borrowed.
Five years onward, Lauritzen purchased a majority stake (51%) in First State Bank of Loomis, Nebraska, eventually obtaining full ownership and selling off the remaining 49%. After the passing of T.L. Davis in 1955, Lauritzen expanded his holdings by acquiring Washington County Bank (1956), Farmers and Merchants Bank located in Bloomfield (1958), and Burt County State Bank in Tekamah (1961).
In 1958, he created the entity that would become Lauritzen Corporation to oversee his growing collection of banks. At this time, he resigned from First National Bank of Omaha to concentrate on managing his expanding portfolio. Despite stepping down from his executive role, he retained a position on First National’s board and agreed to divide both his time and compensation between First National and his own banking enterprises.
Ownership
Lauritzen Corporation remains predominantly family-owned, with Bruce R. Lauritzen holding exclusive investment and voting authority alongside his mother, Elizabeth D. Lauritzen. Numerous family members actively participate in managing the corporation’s various affiliated companies.
Until his passing in February 2024, Bruce R. Lauritzen acted as CEO of Lauritzen Corporation and Chairman of First National of Nebraska, Inc., First National Bank of Omaha, plus more than a dozen other banks spanning Nebraska, Iowa, Illinois, South Dakota, Kansas, Colorado, and Texas. Collectively, these institutions controlled assets exceeding $20 billion and employed around 7,500 individuals across 31 states. Following his death, leadership transitioned to his son Clark Lauritzen who assumed the roles of Chairman and President for Lauritzen Corporation, First National of Nebraska, Inc., and First National Bank of Omaha.
Crawford County Bank
- Subsidiary under The Viking Corporation
- Branch located in Iowa: Denison
Established in 1927, Crawford County Bank has consistently operated under its original name since inception.
Farmers & Merchants State Bank
- Branches situated in Nebraska: Bloomfield, Crofton, Center, Hartington, Niobrara
- Branch located in South Dakota: Yankton
Chartered in 1890, Farmers & Merchants State Bank highlights its status as a family-owned institution with strong community ties.
First State Bank
First State Bank commenced operations in 1886 from an office within a hardware store. By 1938 it had accumulated the largest asset base among Nebraska towns with populations under 1,000 residents. The Lauritzen family acquired this bank in 1952 and later expanded by opening a branch in Alma following the acquisition of Harlan County Bank in 2006.
Houghton State Bank
- Locations in Iowa include: Red Oak, Cumberland, Elliott, and Emerson
Landmands Bank
- A Viking Corporation subsidiary
- Branches located in Iowa: Audubon and Kimballton
Landmands Bank strives to be the leading financial institution within its market area, prioritizing sustainable growth, profitability, and fostering regional economic strength.
Shelby County State Bank
Originally established as Shelby County Bank in 1880 with $50,000 in assets under President BL Harding, it was officially incorporated in 1894. The 1906 merger with First National Bank resulted in the formation of Shelby County State Bank. By 1913, deposits had grown to $780,000 under President H.P. Dowling.
In 1933, it combined with Farmers and Merchants Savings Bank of Harlan and launched a branch in Elk Horn. Under President H. Rand Petersen's leadership by 1957, assets reached $5 million. Petersen also spearheaded the development of Harlan’s first drive-in banking facility in 1972 and oversaw the relocation of the main office in 1975.
From 1986 to 1995, SCSB expanded through mergers with institutions in Panama, Portsmouth, Irwin, and Shelby. The Harlan West Branch opened in 1993 after repurposing a former restaurant. Jerry Lapke assumed presidency following the Portsmouth merger; Roger Claypool has been at the helm since 1996. Presently, Shelby County State Bank controls assets exceeding $210 million.
Sibley State Bank
- A KBJ Enterprises, Inc. subsidiary
- Branch located in Iowa: Sibley
Washington County Bank
Washington County Bank commenced operations on April 5, 1904, originally named Washington State Bank in Washington, Nebraska. It merged with Kennard State Bank in 1930 and relocated to Blair in 1933, reopening as Washington County Bank. John R. Lauritzen acquired controlling interest in 1955 before establishing Lauritzen Corporation. The bank further expanded by merging with Burt County State Bank in Tekamah in 2004 and opening a third branch in Omaha in 2007.
York State Bank
Chartered by Dean Sack on July 13, 1943, York State Bank was founded alongside Henderson State Bank and another institution in Benedict during the same year. Acquired by Lauritzen Corporation in 1995, York State Bank continues to support education, industry, and agriculture throughout York County.
Non-banking subsidiaries
- The Harry A. Koch Company
- NAEDA Financial, LTD.
- In partnership with: Diversified Financial Services, LLC
See also
- First National of Nebraska, Inc. — secondary ownership by Bruce Lauritzen
- Lauritzen Gardens, Omaha's Botanical Center supported by philanthropic contributions from the Lauritzen family