Security First Bank and First Interstate BancSystem Inc. have announced the signing of a purchase and assumption agreement pursuant to which Security First will acquire 11 Nebraska branches from First Interstate’s wholly-owned subsidiary, First Interstate Bank. The purchase and assumption agreement provides for the transfer by First Interstate Bank to Security First of the facilities and other associated assets of the branches, which included at Sept. 30, 2025 approximately $280 million in deposits, and loans with outstanding balances of roughly $70 million. Upon closing of the transaction, the following branches will become a part of Security First, all of which are in Nebraska:
- Alliance
- Norfolk
- Atkinson
- O’Neill
- Broken Bow
- Ord
- Burwell
- Scottsbluff
- Callaway
- Sidney
- McCook
Security First’s purchase of these branches is subject to regulatory approval and satisfaction of certain customary closing conditions. The parties expect to close on the purchase and sale of the First Interstate Bank branches in early 2026, at which point the branches will be fully converted to operate as Security First branch offices. On a pro forma basis, following the branch acquisition, Security First will expand its market presence in Nebraska to 34 full-service branch locations.
Gregory A. Hunter, President of Stockmens Financial Corp. and CEO of Security First Bank, stated, “We’re thrilled to welcome these First Interstate branches into our family and deepen Security First’s roots across Nebraska. We share First Interstate’s unwavering commitment to community, personal service, and local investment, and we’ve been committed to those standards since our founding in 1898. We look forward to serving our new clients and neighbors with the same passion, integrity and hometown spirit they’ve come to expect.”
James A. Reuter, President and CEO of First Interstate and First Interstate Bank, stated, “We are pleased to enter into this agreement with Security First. Their relationship-driven, customer- and community-centric strategy resonates with our core principles, enabling clients, teams and communities to continue flourishing. This agreement also provides an opportunity for us to redeploy capital with the goal of accelerating growth in our strongest markets.”