Olson Group to purchase Julesburg Bank

Northwestern Financial Review, Jan 10, 1998

First Nebraska Bancs, Inc., is purchasing First National Bank of Julesburg. First Nebraska Bancs' principals include Tom Olson and Bruce Batt. Olson is chairman of First National Banks of Sidney and Torrington, and Lisco State Bank. Batt is president of First National Bank, Sidney. First National Bank of Julesburg will remain a separately chartered bank under the new ownership. Tom Olson, Jr., will move to Julesburg to head up the management team for the acquired bank. Steven Nein was chairman and CEO of First National Bank of Julesburg, while Gary Demanche was president.

City National Bank in Greeley suffered smoke and water damage from a fire in early November. The fire was started by a shrink wrap machine in the meat department of the grocery store next door to the bank. The bank moved operations temporarily to a building across the street. The bank had to replace its carpeting, ceiling tiles, wall paper and other fixtures. William McQuillan, who will become president of the Independent Bankers Association of America in March, is president of the $17 million bank.

Bank of the Valley, Bellwood, is constructing a new branch office in David City on Highway 15. Construction of the one-story structure started in November and the project is expected to be completed by this summer. Paul Chatelain is president.

American National Bank of Sarpy County will occupy the first floor of a new, three-story professional building being constructed in Papillion at the intersection of Highway 370 and 84th Street. Construction of the building is expected to be completed in February. Jeff Schmid is president of the bank.

First National Bank, Lincoln, is constructing a new branch in downtown Lincoln at 1301 L Street. The bank hopes to increase its volume of commercial accounts by opening its first office downtown. Construction of the 2,100-square-foot building began in December and is expected to be completed early this year. Bryan Shank is president of the bank.

Home State Bank will construct a new 11,000-square-foot, two-story building in Louisville, just south of the village offices. McNeil Construction of Omaha is the contractor. The facility is expected to be ready by September. The Louisville post office will move to the bank's present location on Cherry Street next fall.

A group of Fremont-area investors is purchasing the $37 million American National Bank of Fremont. The transaction is expected to be completed early this year. Fremont businessman Richard O. Wikert is leading the investment group. Douglas Heim, a shareholder and one of the bank's original organizers when it was chartered in 1983, will remain president of the bank.

Mark Buckley, president of Nebraska State Bank of South Sioux City and The First National Bank of Wilcox, announced the merger of these two banks. On Nov. 24, the First National Bank of Wilcox opened as a branch of Nebraska State Bank, which also has a branch office in Wakefield. The combined assets of the merged organization is about $100 million.