Since 1857, First National Bank Omaha has been growing steadily. Originally, FNBO Direct was a small institution, serving only Omaha, Nebraska, and the immediate area. Now, FNBO, a subsidiary of First National Nebraska, serves 6.6 million people all over the country. First National Nebraska is a multi-state holding company, and is the largest privately owned banking company in the U.S.
FNBO offers products that are in line with what you would expect from such an institution: checking accounts, savings accounts and CDs. FNBO also issues Visa branded rewards credit cards. FNBO offers consistently competitive yields on deposit accounts, and a fairly low variable interest rate on its credit card.
In addition to online billpay, FNBO also makes use of Popmoney, which allows you to send payment from your bank account directly to someone else with the help of a text message. You can also receive payment via Popmoney directly to your bank account. The FNBO web site features a number of helpful and educational tools, including a wide array of calculators. One of the most interesting is a calculator that will help you see how long it will take you to save up $1 million.
As always, read the account disclosures before opening an account.
FNBO charges a monthly "Debit Card Inactive Fee" of $1 per month if you don't use the debit card associated with the account at least once every 90 days. If you opt out of the debit card entirely and just get an ATM-only card, they charge you $1 per month, every month, period.
Since I never use debit cards, this was a deal-killer for me.
If you are one of those people who open accounts while the interest rates are good, and then leave them dormant when the rate drops, there is a dormant account fee of $25 (first month) or $10 (subsequent months). It doesn't indicate how long the dormant period is in their online disclosure.
I like FNBO for the following reasons:
1) it offers a good cash back card (as competitive as others on the market)
2) free next day ACH transactions
3) simple, but easy to navigate website
4) Offers a decent APY on checking and savings (although this could be better)
5) Long history, and 5 star health record
6) Good customer service
I have used FNBO for several years for on-line bank and money market. I have found great rates and easy access to money.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 FNBO Direct had $114.58 million in non-current loans and owned real-estate with $1.77 billion in equity and loan loss allowances on hand to cover it. This gives FNBO Direct a Texas Ratio of 6.49% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for FNBO Direct decreased dramatically from 11.06% as of December 31, 2012 to 6.49% as of December 31, 2013, resulting in a positive change of 41.30%.This indicates that the balance sheet and financial strength for FNBO Direct has improved dramatically in recent periods.
In the past year, FNBO Direct has decreased its total deposits by -$461.87 million, resulting in -3.7% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth FNBO Direct has shown is below average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. FNBO Direct has $14.54 billion in assets with $1.77 billion in equity, resulting in a capitalization level of 12.14%, which is excellent.
|FDIC Certificate #||5452|
|Assets and Liabilities|
|Equity Capital||$1.50 billion|
|Loan Loss Allowance||$267.34 million|
|Unbacked Noncurrent Loans||$89.66 million|
|Real Estate Owned||$24.92 million|
|Historic Data - December 2012|
|Equity Capital||$1.39 billion|
|Loan Loss Allowance||$274.59 million|
|Unbacked Noncurrent Loans||$89.66 million|
|Real Estate Owned||$28.31 million|
|Profit Margin - Quarterly|
|Net Interest Margin||6.1%|
|Return on Assets||1.08%|
|Return on Equity||10.74%|
|Interest Income||$805.25 million|
Always verify rates and promotions with the bank or credit union. We are not FNBO Direct, we are a rate comparison website and can not provide official rates or promotions.
|1.15%||$500||$1m||60 Month CD|
|0.90%||$500||$1m||48 Month CD|
|0.70%||$500||$1m||36 Month CD|
|0.50%||$500||$1m||24 Month CD|
|0.41%||$500||$1m||18 Month CD|
|0.31%||$500||$1m||12 Month CD|
|0.26%||$500||$1m||9 Month CD|
|0.16%||$500||$1m||6 Month CD|
FNBO Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 1620 Dodge Street - Omaha, NE 68197