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.
Back in May 2007, while ING Direct and others were paying ~3.5-4.5% interest, the First National Bank of Omaha was paying 6% interest on savings accounts. I was leery, but their FDIC number matched up, and after a few phone calls I felt comfortable enough to put some decent money with them.
It's been 11 years now, and it works like clockwork. The website isn't fancy, but it's perfectly functional. I push a little bit of money over there every month, and it keeps growing. These days, their rates aren't hugely better than the big guys (Capital One 360, etc.), but I'm still leaving my money there for now. Besides, my main bank, Wells-Fargo, wants to charge $5-12 per month per savings account -- they can take a long hike off a short bridge. FNBO's never charged me any fees.
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.
Hands down the most complicated and confusing application process I've ever endured. After initial decline due to credit info freeze, manual review of application was eventually successful. Unfortunately the barrage of conflicting and confusing emails requiring multiple phone calls made it a truly unpleasant process. They are obsessed with security during the application process, but if you enable touch ID on your iOS device, you must enable a passcode limited to 4 digits.
I will not recommend fnbodirect.com as bank has the worst customer service support and have been poor with its basic banking services. I used this bank while closing my home and it took more than 26-30 hours to get a wire transfer completed.
I was required to call them 3-5 times every 2 hours and it was the horrible experience to get a wire transfer completed working with bank. if you end up requiring tapping into any emergency funds you could imagine what you could end up if you have savings accounts at this bank. There are much better alternatives with good services with competitive interest rates in other online banks.
|FDIC Certificate #||5452|
|Return on Assets - YTD||1.9%|
|Return on Equity - YTD||18.09%|
|Annual Interest Income||$298.2MM|
|Assets and Liabilities|
|Assets||Q1 2021vs Q1 2020||$25.48B$22.27B|
|Loans||Q1 2021vs Q1 2020||$16.16B$15.60B|
|Deposits||Q1 2021vs Q1 2020||$21.90B$18.29B|
|Equity Capital||Q1 2021vs Q1 2020||$2.66B$2.42B|
|Loan Loss Allowance||Q1 2021vs Q1 2020||$423.0MM$452.0MM|
|Unbacked Noncurrent Loans||Q1 2021vs Q1 2020||$101.3MM$104.2MM|
|Real Estate Owned||Q1 2021vs Q1 2020||$841.00K$5.1MM|
Rates for FNBO Direct are currently being reviewed.
FNBO Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 1620 Dodge Street - Omaha, NE 68197