First National Bank of Omaha announced Friday that it has acquired SAF Holdings and SAF’s Omaha subsidiary AmeriFirst Home Improvement Finance.
AmeriFirst will keep its name and operate as a division of FNBO, according to a press release. Existing AmeriFirst employees will become FNBO employees. A spokesman for FNBO declined to disclose the price of the acquisition.
A press release from FNBO said AmeriFirst is a leading originator and servicer of consumer home improvement loans in a nearly $150 billion market. FNBO’s acquisition will allow the banking entity to expand its existing point-of-sale lending capabilities and thus add to its credit card and buy now, pay later programs.
“AmeriFirst is very excited to join the culturally like-minded FNBO team,” said Eric Gangloff, CEO and chairman of SAF Holdings and AmeriFirst CEO.
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First National Bank of Omaha is the primary banking subsidiary of First National of Nebraska, which has nearly $30 billion in assets and 5,000 employees at more than 100 locations, including affiliates, in eight states.
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