The Mountain-Ear logo
Log in Subscribe

Centennial to buy Ned's Mutual of Omaha

Posted 9/8/14

Barbara Lawlor. Nederland.     If the deal goes through, if bank regulators approve, the Mutual of Omaha Bank in Nederland will have a new owner sometime in October. Jim Noland, spokesperson for

This item is available in full to subscribers.

Please log in to continue

Log in

Centennial to buy Ned's Mutual of Omaha

Posted

Barbara Lawlor. Nederland.     If the deal goes through, if bank regulators approve, the Mutual of Omaha Bank in Nederland will have a new owner sometime in October. Jim Noland, spokesperson for the Mutual of Omaha Bank, said that Centennial Bank and Mutual have reached an agreement but the purchase will not be final until it is approved by bank regulators.

Until then it will be business as usual. The Ned bank will have the same employees and customer service that it does now. Noland says every customer will receive a letter explaining the purchase before Centennial occupies the building.

Mutual of Omaha Bank is selling its five Colorado banks to the Denver-based CIC Bancshares and will have one facility in Colorado, its banking hub in the Denver Tech Center.

Nederland, Idaho Springs, Evergreen, Conifer, and Golden branches of Mutual of Omaha will become Centennial Bank branches and employees will be part of the Centennial operations.

Noland said that Mutual will focus on its activities in the Denver Tech Center. Mutual of Omaha bought the five mountain banks in 2007 when it purchased Peak National Bank of Golden.

When the sale is final, Centennial will own 14 branches. It already owns branches in Boulder, Breckenridge, Denver, Edwards, Englewood, Centennial, Steamboat Springs, Vail, and Winter Park/Fraser. It is a full service bank which opened in Centennial, Colorado in 1986.

In May of 2010 Centennial Bank was purchased by CIC Bancshares, a Colorado-based holding company that focuses on buying and developing banking and financial services assets in Colorado and the Rocky Mountain West.

bank, centennial bank, colorado, mutual of omaha, Nederland, sells