First National Bank of Omaha (FNBO, fnbo.com) announced it has acquired substantially all assets of SAF Holdings, LLC and its wholly-owned subsidiary AmeriFirst Home Improvement Finance, LLC (AmeriFirst), headquartered in Omaha. AmeriFirst now operates as AmeriFirst, a division of FNBO, and existing AmeriFirst employees became FNBO employees following the acquisition.
Beginning in 1979, AmeriFirst’s mission was to provide competitive consumer finance programs for the Pacesetter Corporation. Today, AmeriFirst is a leading originator and servicer of consumer home improvement loans in a nearly $150 billion market. Entering this market expands FNBO’s existing point-of-sale lending capabilities, adding to its robust credit card and buy now pay later programs.
“Being as close to the customer as possible by providing them with point-of-sale financing solutions that are right for them is paramount to our focus on the customer experience,” said Jerry J. O’Flanagan, executive vice president, Partner Customer Segment, at FNBO. “Our acquisition of AmeriFirst allows us to continue to build our point-of-sale lending capabilities and create synergies with our small business and mortgage business lines.”
“AmeriFirst is very excited to join the culturally like-minded FNBO team. This transaction not only brings cross-selling opportunities with FNBO’s other business lines, but also the ability to leverage the stable capital structure, deposit funding, and long-term focus that a $30 billion privately held financial organization brings to our home improvement lending business,” said Eric Gangloff, chairman and CEO.
To learn more about First National Bank of Omaha, visit fnbo.com.