InBankshares Corp (INBC) agreed to be acquired by First National of Nebraska, parent of FNBO, in an all-cash transaction, pending regulatory approval anticipated by year-end.
The deal includes InBankshares’ wholly owned subsidiary InBank, an independent community bank with $1.4 billion in assets. The acquisition will expand FNBO’s Colorado presence by adding nine InBank branches along the Front Range, including Denver, Colorado Springs and southern Colorado, bringing FNBO’s Colorado network to 30 branches. FNBO will also gain four branches in northern New Mexico.
Under the merger terms, InBankshares stockholders may receive a special dividend immediately before closing and will receive cash for their common shares at closing. Total consideration is currently estimated at $200–$204 million, or approximately $16.41–$16.74 per share, subject to change based on tangible equity at closing and other factors.
The transaction follows FNBO’s June acquisition of Blue Ridge Bank & Trust in Missouri. InBank’s branch rebranding and customer conversion to FNBO are expected in the second half of 2027, after closing and integration steps are completed.
InBankshares Corp (OTCQX: INBC) has appointed Dan Patten as the new Executive Vice President and Chief Financial Officer (CFO). Patten brings over 20 years of experience in corporate finance, mergers, and acquisitions, including 15 years in commercial banking. Previously, he was the Executive Vice President at Heartland Financial USA, Inc. His addition is expected to enhance the bank's strategic finance capabilities and support future growth. InBank, the company's subsidiary, operates in Colorado and New Mexico, providing a range of banking services.