Lincoln, Beatrice banks merge

Daily Sun staff

Security First Bank on Friday announced its successful merger with First National Beatrice Bank and Trust, which operates branch banks in Beatrice, Blue Springs, Clatonia, Cortland and Lincoln.

The merger of Lincoln-based Security First and First National Beatrice brings two established, Nebraska banks under common ownership, Security First said in a news release late Friday afternoon.

The resulting bank, which will be called Security First, has assets of $670 million.

“We couldn’t be more pleased to complete this transaction and bring our two organizations together,” Ron Peters, a senior executive vice president with Security First, said in the release. “Both banks have been operating in Nebraska for generations, in communities of all sizes across the state. Our roots run wide and deep in the country, but we also have solid footings in the region’s larger cities. This is a great fit for both banks, geographically, culturally and financially.”

John Rypma, who has served as president of First National Beatrice, said he sees few significant changes ahead.

“Our banks are very much alike, both in our ownership history and how we serve our communities,” he said in the release. “The name will change, but it should be business as usual for all of our customers.”

Customers will get new debit/ATM cards, but account numbers will remain the same, he said in August.

Rypma will remain at the bank in Beatrice, focusing on business continuity and development, Security First said in the news release.

Peters, who was the bank president in Hay Springs for many years, will assume that role in Beatrice. Peters is a career Nebraska banker and a former teacher with an extensive agriculture and business lending background, the Security First release said. 

Both Security First and First National are strong, well-capitalized, conservative banks, Peters said, and the merger was mutually beneficial.

“Our branches in Lincoln, greater Nebraska and South Dakota give us diversity in our loan portfolio, which is fundamental to good banking. First National’s strong community bank loan mix complements ours, and their loyal customers’ excellent deposit base makes us even stronger.”

First National Beatrice, a 130-year-old Beatrice business, is owned by employees and the Howie family, now of California, Rypma said in an interview last month.

Security First is owned by the Hunter family of Rushville and has 22 branches in Lincoln, Martell and several other communities in Nebraska and South Dakota, Security First Vice President of Marketing Marnie Herrmann said.

In addition to the banking operations, both banks operate large insurance agencies, which will also combine and do business as Security First Insurance.

Security First’s new banks will maintain the same hours and staff, the news release said. Crews will change signs over the weekend and the banks will open as Security First Bank on Monday morning.

In addition to Lincoln, Security First operates banks in Martell, Cozad, Overton, Elwood, Thedford, Cody, Merriman, Rushville, Hay Springs, Crawford, Harrison and Sidney in Nebraska,  as well as Martin and Rapid City in South Dakota.