First National Bank of Omaha (FNBO) has agreed to buy Denver-based InBankshares Corp. in a cash deal worth up to $204 million, the companies announced Wednesday.
InBank holds $1.4 billion in assets and operates nine branches in Colorado plus four in northern New Mexico. The acquisition pushes FNBO into new territory, giving it a foothold in Denver, Colorado Springs and southern Colorado. Regulatory approval is expected by year end.
FNBO already runs 21 branches across northern Colorado, in Fort Collins, Boulder, Greeley and Loveland. Once the InBank deal closes, that count climbs to 30 statewide.
This marks FNBO’s third acquisition in about two years. Three months ago, the bank agreed to buy Independence, Missouri based Blue Ridge Bancshares, picking up eight branches in Kansas City. Nine months before that, it closed its purchase of Country Club Bank, also in Kansas City, bringing its branch count there to 20.
FNBO is privately held and operates as a subsidiary of Omaha based First National of Nebraska, which holds roughly $35 billion in assets and around 140 branches spread across Colorado, Illinois, Iowa, Kansas, Missouri, Nebraska, South Dakota, Texas and Wyoming, according to FDIC data.
“InBank is strategically and culturally aligned with FNBO and represents an important step in our thoughtful expansion,” said Clark Lauritzen, president and chairman of FNBO. “Its experienced team, trusted customer relationships and entrepreneurial culture provide a meaningful foundation as we welcome new customers and communities to FNBO.”
Under the deal, InBank shareholders will get a special dividend shortly before closing, then receive cash for their shares from First National of Nebraska once the deal closes. Total shareholder consideration is estimated between $200 million and $204 million, or $16.41 to $16.74 per share, though the final number depends on several factors, including InBank’s tangible equity at closing.
InBank has roots going back a century, originally chartered as International Bank in New Mexico before an investor group bought and rebranded it in 2019. As of June 30, it held $1.1 billion in deposits and $942.7 million in loans held for investment. The bank sold three branches in 2025 to tighten its footprint.
“InBank was built with a commitment to delivering highly personalized service, and FNBO shares our belief in authentic relationships, local decision making and doing what is right for customers and communities,” said Ed Francis, InBank’s founder and CEO. “We believe this next chapter will create new opportunities for our customers and associates while carrying forward the values that have shaped InBank.”
InBank branches are set to be rebranded as FNBO locations in the second half of 2027, alongside customer account conversion.
HeraldView: FNBO’s third deal in two years signals a deliberate push beyond Nebraska into fast growing Mountain West markets. Community bank consolidation keeps accelerating as regional players chase scale, deposits and geographic diversification ahead of tighter margins and rising compliance costs industry wide.