Security First Bank has just announced its acquisition of eleven Nebraska branches from First Interstate Bank, which includes approximately $280 million in deposits and loans with outstanding balances of roughly $70 million as of September 30, 2025. This acquisition will bring Security First's market presence in Nebraska to 34 full-service branch locations on a pro forma basis.
Security First, a Nebraska-chartered community bank, currently operates 25 branch locations, two loan production offices, and ten insurance offices throughout Nebraska and southwest South Dakota. With this acquisition, the bank aims to deepen its roots across Nebraska and continue its commitment to community, personal service, and local investment.
On the other hand, First Interstate Bancsystem, Inc., the parent company of First Interstate Bank, is pleased to enter into this agreement, allowing them to redeploy capital with the goal of accelerating growth in their strongest markets.
Security First Bank's President, Gregory A. Hunter, expressed excitement about welcoming the First Interstate branches into their family, emphasizing their commitment to community, personal service, and local investment. Meanwhile, James A. Reuter, President and CEO of First Interstate and First Interstate Bank, highlighted the opportunity this agreement provides to redeploy capital and accelerate growth in their strongest markets.
The parties expect to close the purchase and sale of the branches in early 2026, at which point the branches will be fully converted to operate as Security First branch offices. The market has reacted to these announcements by moving the company's shares -7.04% to a price of $29.31. If you want to know more, read the company's complete 8-K report here.
