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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
AUGUST 6, 1996
FIRST NATIONAL OF NEBRASKA, INC.
ONE FIRST NATIONAL CENTER
OMAHA, NEBRASKA 68102
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Securities and Exchange Commission Form 8-K
First National of Nebraska, Inc.
This 8-K is being filed pursuant to Item 5. Other Events as outlined in the
Securities Exchange Act of 1934. The following press release was given to the
Omaha World Herald on August 6, 1996:
First National of Nebraska
First National Center
Omaha, Nebraska 68102
First National Purchases Bank of Boulder
For Immediate Release
Tuesday, August 6, 1996
Contact either: Bruce R. Lauritzen, or Dennis A. O'Neal
(402) 341-0500
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(OMAHA, NE - August 6, 1996) - First National of Nebraska has purchased the Bank
of Boulder in Boulder, Colorado, according to Bruce Lauritzen, President of
First National. This is the third Colorado bank to be purchased by First
National and is part of the bank's regional growth strategy.
"The purchase of The Bank of Boulder gives First National locations in five of
Colorado's fastest-growing communities, which combine to serve thousands of
people along the rapidly growing front range of Colorado," said Lauritzen. "This
purchase makes First National the sixth-largest banking operation in the state,
with assets of more than $920,000,000 and 550 employees in eleven different bank
locations."
First National entered the Colorado market in October 1993 with the purchase of
First National Bank of Fort Collins. In January of 1995 Union Colony Bank in
Greeley was added.
Total assets for First National of Nebraska were $6,056,000,000 as of June 30,
1996. Lauritzen reported a 13% increase in revenues for the six months ending
June 30, 1996, as compared to the same period in 1995.
Lauritzen said net after tax earnings for the first six months for First
National of Nebraska were $29,300,000, compared to $40,300,000 for the same
period of 1995. Lauritzen said the reduction in earnings was primarily related
to consumer credit losses in the credit card operations.
"The credit card industry is highly competitive, and is going through a downward
earning cycle at this time," said Lauritzen. "Nationwide, consumer debt ratios
are at an historic high, and there has been an increased number of bankruptcy
filings; this trend is expected to continue through the end of the year."
First National continues to grow market share and expand our work force in the
communities we serve in Nebraska, Colorado, South Dakota, and the Kansas City
area.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
FIRST NATIONAL OF NEBRASKA, INC.
By: \s\ Bruce R. Lauritzen
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Bruce R. Lauritzen
President and Treasurer, Principal
Accounting and Financial Officer and
Director
Date: August 6, 1996
