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First National Bank Sold

LINCOLN, Neb. (AP) - First National Bank of Valentine has been

sold to Security First Bank of Lincoln.

Terms were not released, but First National President and

Chairman Ken Recker said Wednesday that "it was a very fair

price."

FDIC documents say the bank had nearly $103 million in assets

on Sept. 30, 2009.

Why sell now? Recker would say only that the owners "found

that it was in the best interest of the bank and themselves to

sell."

Recker was preceded as president by owner and

 third-generation banker Joanne Shephard.

Security First lists $699 million in assets and is owned by

Stockmen's Financial Corp. of Rapid City, S.D.

Security First senior vice president Marnie Herrmann says

Valentine has been very attractive geographically to Security

First as a potential market.

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On the Net:

First National Bank of Valentine: http://www.fnbvalentine.com/

Security First Bank: http://www.security1stbank.com/

(Copyright 2010 by The Associated Press. All Rights Reserved.)

 

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