CIT Group is buying Mutual of Omaha Bank for $1 billion to expand its commercial banking operations.
The deal would mean the end to Nebraska-based Mutual of Omaha’s foray into the banking sector, initiated in 2007. CEO James Blackledge said that the deal will allow Mutual to focus more on in its core insurance businesses.
About $4.5 billion of Mutual of Omaha’s $6.8 billion in deposits come from homeowners’ associations and other community groups nationwide.
Mutual of Omaha Bank, based in Omaha, Nebraska, has 26 branches mostly across Western states and Plains.
Copyright 2026 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Was this article valuable?
Here are more articles you may enjoy.
Acrisure Goes After Former Owners of Businesses it Acquired for Leaving to Compete 
Shipper Escapes $41.9M Award for Man Paralyzed When Lights Fell From Pallet on Him 
USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency 
Florida Supreme Court Posts New Rule on AI Hallucinations in Court Filings 
