Pinnacle Bank in Lincoln announced yesterday it will purchase and merge with American National Bank in Fremont by the end of the year.
If approved by regulators, Pinnacle will own American National Bank of Fremont and its $167 million dollars in assets. American National President Scott Meister says Pinnacle and American National began talks and liked each other’s philosophy and American National’s strength in the Fremont community. Meister also made very clear that American National was not experiencing any financial difficulty.
38 people work for American National Bank in Fremont and Meister says all management will remain in place. American National Bank will go away when the deal if finalized and then will become Pinnacle Bank.
Pinnacle Bank has 56 branches in 3 states and over $2.6 billion in assets.