Cozad – Adam Boryca, President of Homestead Bank announced First National Bank of Chadron will be merging with Homestead Bank. The change is expected to be finalized prior to July 1, 2021, pending regulatory approval.
“It has been decided to join forces with our affiliate bank, First National Bank of Chadron, which has locations in Chadron and Ainsworth. Homestead and First National have shared common ownership for over 30 years,” said Boryca.
Chairman of the board for both Homestead bank and First National Bank of Chadron, Leland Spanjer, stated, “Homestead Bank and First National Bank of Chadron are committed to community banking in Nebraska. With locations in Cozad, Lexington, St. Paul, Wolbach, Albion, Schuyler and Howells, Homestead Bank has served central and eastern Nebraska for many years. The Chadron and Ainsworth locations of First National Bank will continue to serve their communities while sharing the name and the resources that Homestead Bank provides to community banking across the entire state.”
Vice Chairman Scott Zimbelman said “Economies of scale prompted the strategic decision. Homestead and First National have duplicated many processes throughout the years, namely audit and regulatory compliance. By joining forces and resources, we will become more efficient, resilient, and customer focused.” This decision will keep the locally focused bank relevant for many years to come.