First National Bank of Omaha President and Chairman Dan O’Neill plans to retire on March 31 after an eight-year stint in the bank’s top post.
O’Neill, 63, also will step down from the role of president of First National of Nebraska, the bank’s holding company. He was promoted to that role in 2001.
“During 36 years of dedicated service, and particularly while serving as our president, Dan has simplified, strengthened and improved all aspects of the organization through his leadership and example,” said Bruce Lauritzen, chairman of First National of Nebraska. “He leaves First National with a strong foundation for our continued success and considerable momentum for the future.”
Clark Lauritzen, 40, who oversees First National’s markets outside of Omaha, will take on O’Neill’s roles once he retires. He also is in charge of First National’s corporate banking and wealth management divisions; he is the son of Bruce Lauritzen.
The Lauritzen family owns most of the shares of First National of Nebraska, the nation’s largest privately owned banking company. Its assets amount to more than $21 billion.
Since taking the helm in January 2009, O’Neill has led First National out of the financial crisis, which included the bank’s two-part, $320 million sale of its credit card processing business in 2010 and 2011, and into record-breaking years in terms of net income.
First National had net income of $87 million in 2009. The bank reported record-breaking net income of $191.8 million in 2015. The most recent federal data showed that First National was on track to eclipse that in 2016; through the end of September 2016, it reported net income of about $177 million.
First National’s assets during O’Neill’s leadership have nearly doubled, from $9.7 billion at the end of first quarter 2009 to $18.6 billion as of Sept. 30, 2016.