Two longtime area financial institutions announced today that they will be merging as soon as the acquisition is approved by regulators.

In a news release, E. Dean Niedan, President and Chief Executive Officer of Nebanco, Inc., announced the acquisition of Nebanco, Inc. by First Gothenburg Bancshares, Inc.

Nebanco, Inc. owns Farmers State Bank branches in North Platte and Wallace, as well as American Mortgage Company and Insurance Agencies.

Farmers State Bank will be merged with First State Bank of Gothenburg.  According to the release, First State Bank will continue to operate branches in Wallace and North Platte, and will also operate Wallace Agency in Wallace. Both branches will remain open and, according to Niedan, all employees will be retained after the merger is completed.

American Morgage Company and American Agency will operate as a separate unit at its current location, 422 North Dewey Street, after the merger is completed.

“First State Bank is committed to being a full-service community bank, serving agriculture and small business in their communities,” said Niedan.

Farmers State Bank has served customers in North Platte and Wallace for over 98 years, and First State Bank has been in operation for 110 years.

“Their bank’s culture will serve them well in serving our customers in Wallace and North Platte,” Niedan added.

Approval of the acquisition is expected to occur within 90 days.  In the meantime, Niedan says it will be business as usual.

After the merger, First State Bank’s assets will total approximately $450 million, and the bank will service customers in Gothenburg, Omaha, Mullen, North Platte and Wallace.

For more information on First State Bank, visit their website www.1ststatebank.com.