Mutual of Omaha Bank (merged into CIT Bank)
Mutual of Omaha Bank reported total assets of $8.4 bn at Q4 2019, its last Call Report before it merged into CIT Bank. The CET1 capital ratio at Mutual of Omaha Bank was 10.52%, and the uninsured share of Mutual of Omaha Bank was 26.43%. Source: FDIC Call Reports.
What sets Mutual of Omaha Bank apart
Nothing in the latest data sets Mutual of Omaha Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Mutual of Omaha Bank?
The balance sheet of Mutual of Omaha Bank at : assets $8.4 bn, deposits $7.0 bn, net loans $6.3 bn (loans equal to 89.69% of deposits). Securities make up 20.1% of total assets at Mutual of Omaha Bank. Since , when Mutual of Omaha Bank held $7.4 bn, its assets grew 14.5%. In the year to , deposits at Mutual of Omaha Bank rose 2.6% while its total assets fell 0.9%. At , Mutual of Omaha Bank employed 831 full-time equivalent staff across 27 offices, about $10.2 mn of assets per employee and $258.5 mn of deposits per office.
How much funding at Mutual of Omaha Bank is uninsured?
At Mutual of Omaha Bank, uninsured deposits (above the FDIC limit) made up 26.43% of domestic deposits at (+1.35 pp on a year earlier). In dollars, Mutual of Omaha Bank estimated $1.8 bn of uninsured deposits.
Key facts, Q4 2019
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $7.0 bn | $6.8 bn (Q4 2018) | |
| Net loans and leases | $6.3 bn | $6.2 bn (Q4 2018) | |
| Loan-to-deposit ratio | 89.69% | 91.55% (Q4 2018) | |
| Tier 1 leverage ratio | 8.37% | 9.38% (Q4 2018) | |
| Total risk-based capital ratio | 11.65% | 12.79% (Q4 2018) | |
| Net interest margin | 3.86% | 3.71% (Q4 2018) | |
| Return on assets (ROA) | 0.65% | 1.01% (Q4 2018) | |
| Efficiency ratio | 80.32% | 66.60% (Q4 2018) | |
| Unrealized gain/loss on available-for-sale securities | Gain of $19.0 mn | Turned from a loss into a gain | |
| Noncurrent loans to total loans | 1.17% | 1.05% (Q4 2018) | |
| Net charge-offs to average loans | 0.23% | 0.18% (Q4 2018) |
US rank of Mutual of Omaha Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Mutual of Omaha Bank: assets, deposits and loans
- Total assets $8.4bn
- Deposits $7.0bn
- Net loans $6.3bn
Capital and securities
The CET1 ratio of Mutual of Omaha Bank stood at 10.52% in , -1.34 pp year on year. Low and high at Mutual of Omaha Bank since : 9.87% () to 12.36% (). Equity capital of Mutual of Omaha Bank at : $878.3 mn, or 10.4% of total assets. Mutual of Omaha Bank also reported a total capital ratio of 11.65% for , and a tier 1 leverage ratio of 8.37%.
The available-for-sale portfolio of Mutual of Omaha Bank showed an unrealized gain of $19.0 mn at ; the gain turned from a loss into a gain over the year.
Mutual of Omaha Bank: capital ratios
- Total capital 12%
- CET1 11%
- Tier 1 leverage 8.4%
Mutual of Omaha Bank: unrealized securities gains and losses
- Available for sale $19mn
- Held to maturity $0
Profitability and loan quality
For the year to , Mutual of Omaha Bank earned a return on equity of 5.68%; return on assets: 0.65%. Net interest margin at Mutual of Omaha Bank: 3.86%, +0.14 pp in a year. Mutual of Omaha Bank net income: $55.3 mn, down 33.9% year on year. The efficiency ratio of Mutual of Omaha Bank was 80.32%: about 80 cents cost per revenue dollar, against 56 cents at the median peer.
At , noncurrent loans were 1.17% of total loans at Mutual of Omaha Bank; net charge-offs: 0.23% of average loans. Gross loans and leases at Mutual of Omaha Bank: $6.3 bn at , against $6.3 bn at .
Mutual of Omaha Bank: profitability
- Return on equity 5.7%
- Net interest margin 3.9%
- Return on assets 0.6%
Peer group of Mutual of Omaha Bank
The peer group of Mutual of Omaha Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 0 share the charter type of Mutual of Omaha Bank (federal savings bank) and 0 have head offices in Nebraska. Against them, Mutual of Omaha Bank shows CET1 ratio 10.52% against a peer median of 12.82%, return on equity 5.68% against a peer median of 10.61% and uninsured deposit share 26.43% against a peer median of 34.34%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| International Bank of Commerce | State nonmember bank | TX | $8.7 bn | 18.23% | 11.36% | 18.42% | |
| Sandy Spring Bank | State member bank | MD | $8.6 bn | 12.65% | 10.53% | 43.62% | |
| The Park National Bank | National bank | OH | $8.5 bn | 10.54% | 13.85% | 14.46% | |
| Mutual of Omaha Bank | Federal savings bank | NE | $8.4 bn | 10.52% | 5.68% | 26.43% | |
| Safra National Bank of New York | National bank | NY | $8.3 bn | 19.07% | 8.70% | 44.33% | |
| First Commonwealth Bank | State nonmember bank | PA | $8.3 bn | 11.36% | 10.68% | 25.06% | |
| OceanFirst Bank | National bank | NJ | $8.3 bn | 12.98% | 7.86% | 48.53% | |
. FDIC Call Reports.
Last eight quarters
Two years at Mutual of Omaha Bank, to : assets $8.2 bn to $8.4 bn, deposits $6.8 bn to $7.0 bn, equity $866.9 mn to $878.3 mn. Staff 850 to 831; offices 30 to 27.
| Metric | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | Q1 2019 | Q2 2019 | Q3 2019 | Q4 2019 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $8.2 bn | $8.3 bn | $8.4 bn | $8.5 bn | $8.5 bn | $8.5 bn | $8.8 bn | $8.4 bn |
| Total deposits | $6.8 bn | $6.9 bn | $6.7 bn | $6.8 bn | $6.9 bn | $6.8 bn | $6.8 bn | $7.0 bn |
| Bank equity capital | $866.9 mn | $882.4 mn | $900.6 mn | $939.0 mn | $975.2 mn | $1.0 bn | $1.0 bn | $878.3 mn |
| CET1 ratio | 11.41% | 11.81% | 11.92% | 11.86% | 12.09% | 12.36% | 12.04% | 10.52% |
| Return on equity (ROE) | 8.16% | 8.89% | 9.90% | 9.39% | 9.33% | 9.61% | 9.42% | 5.68% |
| Uninsured share of domestic deposits | 23.72% | 23.68% | 23.57% | 25.08% | 24.57% | 24.72% | 25.12% | 26.43% |
| Full-time equivalent employees | 850 | 873 | 1,529 | 2,043 | 2,015 | 2,073 | 2,108 | 831 |
| Number of offices | 30 | 30 | 30 | 30 | 27 | 28 | 28 | 27 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Mutual of Omaha Bank, oldest first; figures before and after each event are not like for like.
- . Merged into CIT Bank, National Association (FDIC certificate 58978).
Questions and identifiers
What were the total assets of Mutual of Omaha Bank?
Mutual of Omaha Bank reported $8.4 bn at in its Call Report.
Is Mutual of Omaha Bank the same as its holding company?
No. This page covers Mutual of Omaha Bank, FDIC certificate 32325; MUTUAL OF OMAHA INSURANCE CO (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Mutual of Omaha Bank profitable?
Mutual of Omaha Bank reported net income of $55.3 mn for the year to ; annualized return on equity: 5.68%. So yes: Mutual of Omaha Bank made a profit over these months.
When is data for Mutual of Omaha Bank next updated?
Mutual of Omaha Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Mutual of Omaha Bank?
In the FDIC BankFind Suite record for certificate 32325, and in the Call Reports of Mutual of Omaha Bank (RSSD ID 786274) at the FFIEC Central Data Repository.