Mutual of Omaha Bank to Acquire Deposits of Failed First National Bank (My bank just failed)

Fox Business ^ | July 25, 2008 | Hildy

[Hildy]

This isn't too bad, right? It's not like IndyMac which is being held by the FDIC. Mutual of Omaha is huge, right? It's just like one bank taking over another...just sounds worse than it is...right> I called and apparently it will be business as usual...but I think I'm still going to take some Monday out on Monday. I know I shouldn't...Any words of wisdom????

[Hildy]

I will take MONEY out on Monday. Oy.

[rabscuttle385]

You should be fine, if all your deposits are insured, since they are now held by Mutual of Omaha Bank, and the local branches are now Mutual of Omaha branches. If you had any loans, however, those loans are currently held by the FDIC while they sort through the rubble.

[rabscuttle385]

FYI last night’s thread on the two failed banks:
http://www.freerepublic.com/focus/f-news/2051544/posts

[PAR35]

Looks like even the uninsured depositors will come out ok on this one. They’ll probably have some FDIC folks in a back room for a while, but most folks probably aren’t going to notice anything.

[fatima]

Bump for later.Hope your money is OK Hildy.(((Hugs)))

[Perdogg]

If you get to the bank and Merlin Perkins is there sorting out cash, I suggest you run. ;)

[library user]

I'm still going to take some Monday out on Monday.

I wish I could learn how to do that, as I really, really hate Mondays. :O)

[Hildy]

I’m not too worried. I called and they said it’s business as usual.

[library user]

I called and they said it’s business as usual.

Well, what are they going to say? The captain of the Titanic probably said, "Aw, a little iceberg never hurt anyone." :O)

[Hildy]

No loans..just money. Checking, Savings AND a CD. I actually feel better it’s Mutual of Omaha than First National Bank of Nevada, if the truth be known! It’s just like when your bank gets taken over by another bank...nothing changes but the name on the check.

[Brilliant]

If you have less than $100,000 in the account and it’s an FDIC insured account, then you are wasting your time worrying, and you are wasting your time moving your money around. There is no way you can lose unless the federal government itself goes under, and that ain’t gonna happen.

[Hildy]

LOL!

[DoughtyOne]

I doubt you’ll notice much of any difference at all, other than the name change. Your account parameters, fees, free checking, free checks, interest rates may change a bit, but other than that you should be just fine.

Actually, this is a great way for this to work out IMO.

[ecomcon]

"Mutual of Omaha Bank currently has more than $750 in assets and operates 14 retail branches in Nebraska and Colorado...

$750 in assets? I think I can come up with an offer for them. In fact I can double that number.

[Hildy]

Thanks a lot!

[Hildy]

LOL! I saw the same thing! I guess the cost of living is cheaper in Nebraska.

[Hildy]

Actually, this is a great way for this to work out IMO.

That's what I think too.

[JasonC]

You are fine. Mutual of Omaha is sounder than a dollar. Sleep easy and don't bother panicking.

[CindyDawg]

JMO but I think everyone should keep out a little cash for unexpected emergencies.