American National Bank of Omaha has hired an Ohio banker and promoted an executive to its parent corporation.
Steve Ritzman will become president of American National Corp. and Adrian Breen will join American National Bank on Monday as president and CEO.
John Kotouc, executive chairman of American National Bank, said the changes would support the company's strategic growth goals.
Ritzman has 34 years of banking experience and will oversee the financial performance of the Omaha bank and Western Bank of St. Paul, Minn., also owned by the corporation.
Breen has been a banker for 25 years, most recently a regional president for First Financial Bank in the Cincinnati area and, before 2005, an executive with Park National Bank and Fifth Third Bank in Ohio. — Steve Jordon
Supertel withdraws plans to sell stock
Supertel Hospitality Inc. this week withdrew plans to sell 16.7 million shares of stock.
CEO Kelly Walters cited market conditions, the expected sale price and discussions with stock underwriters.
The Norfolk, Neb., lodging company's stock price has ranged between $4.98 and $5.82 a share since Sept. 12, when it announced the stock sale, and closed Thursday at $5.66 before the withdrawal announcement. — Steve Jordon
$1.2 million deal reached in former employees' suit
LINCOLN (AP) — The former owner of a Nebraska meatpacking company has agreed to pay $1.2 million to settle a class-action lawsuit by former employees.
Private equity firm Matlin-Patterson agreed to the settlement without admitting any wrongdoing. The firm was a majority owner of Premium Protein Products when it filed for Chapter 11 bankruptcy protection in 2009.
Former employees alleged that the company violated federal law when it furloughed hundreds of employees for months without pay and then filed for bankruptcy.
The company's Hastings plant was sold in 2010 and its Lincoln plant remains closed.
San Diego firm to develop Nebraska wind project
BROKEN BOW (AP) — A San Diego-based company says it has acquired and will develop the second phase of a wind energy farm near Broken Bow.
Sempra U.S. Gas & Power bought the project from Edison Mission Energy, of Santa Ana, Calif. Terms were not disclosed.
Sempra has agreed to buy 43 wind turbines that will provide 75 megawatts of power total. The company says that's enough electricity to meet the needs of about 40,000 Nebraska homes. The future output has been sold to Nebraska Public Power District.
Construction is expected to begin in December and be finished by late 2014.
Edison Mission has retained ownership and control of the first phase of the project.
Hartington's hopes high for its new hotel
HARTINGTON — There's a new place to stay in Cedar County.
Cobblestone Inn & Suites opened its doors here in July. It is owned and operated by the Hartington Hotel Group, which was formed by a group of residents who wanted to help the town grow with the times. Town surveys had revealed the need for a hotel and restaurant.
Cobblestone seemed to be a good fit for a town the size of Hartington, population 1,500. Local residents and former residents of Hartington met, then asked Rob Miller to manage their limited liability company and to help them put a plan together with BriMark Builders and Cobblestone Hotels.
“We believe more lodging opportunities will create opportunities for all of Hartington businesses,” Miller said. --- World-Herald News Service