First National Bank

How do you define a community bank these days? Is it just about home loans? Or is it all about savings? These days, the local community is evolving; its needs are transforming from plain home ownership loans to more complex financial needs. The First National Bank in Omaha, Nebraska is an epitome of this change.

Omaha And The First National Bank

The First National Bank in Omaha, Nebraska is a community bank with a national approach. Its name speaks for itself. But beyond the identity is a commitment to stretch an arm to those who need, especially to the Omaha community. A city that thrives along the borders of Iowa and the banks of the Missouri river, Omaha has a rich economy. Omaha is a true example too of a community change. Omaha today is revered as the eleventh best city to start business and career, according to the 2004 list by the Forbes Magazine. And for such a feat, a community bank is needed to sustain the growth and the needs of the city.

History And Major Highlights

The history of the First National Bank in Omaha, Colorado is parallel to that of the City’s charter birth. Omaha was incorporated to the State of Nebraska in the year 1857, the same year the First National Bank was founded. The First National Bank was considered a catalyst to the fast growing economy of the city that comprised of manufacturing, whole, retail and services.

The First National Bank was the product of a vision of two great minds one hundred fifty years ago. The brothers Augustus and Herman Kountze founded the First National Bank in the year 1857. The bank was the very first to be chartered in the Western Nebraska State. It was a booming success in the Omaha community. It served greatly in the Omaha’s transition to city-hood. The company shared many firsts in the course of its operation including the very first bank in the Douglas County to offer credit cards application. The First National Bank Credit Card Service was an edge for the bank. And to strengthen its position as a true community-involved institution, the First National Bank became the first company to financially aid the ethanol industry. It also was the first American company to use a renewable source of energy as its primary electricity source by means of fuel cells.

The Ups and Downs of The First National Bank in Omaha

The first thirty eight years of operation was smooth sailing for the brothers Augustus and Herman Kountze. The city of Omaha was building. In 1895 however, the first signs of economic depression were seen. Negative connotation of banks began to spread, but because the brothers were determined of the bank’s economic significance, they were able to save the company through the forming of an organization – the Knights of Ak-Sar-Ben. This organization which lived on until this day aimed at building a prosperous land and a flourishing community where every man can succeed.

In the year 1913, First National Bank grants female customers easy banking transaction through its innovative service called the ladies department. It helped drew in more deposits especially from households. The year 1931 however was the blackest day of the company. More than 700 banks closed in Nebraska due to the Great Depression. But even with panic-withdrawing customers, the First National Bank stood against it.

The First National Bank Today

The last 50 years is proof to its enduring strength. In 1953, the First National Bank became the fifth in the US to offer credit cards. In 1971, it opened its new corporate tower. And in 2007, the company marked its 150 years of service. The bank is now a full subsidiary of the First National of Nebraska serving over 6 million clients, employing 7500 workers and holding $18 billion worth of assets. The company has indeed come a long way from the vision of two Omaha brothers.