State Capitol Building in Lincoln, Neb. (Source: Shutterstock).
The Nebraska Department of Banking and Finance on Monday denied an application of the $395 million Premier Bank to be acquired by the $7.9 billion GreenState Credit Union in North Liberty, Iowa.
"Premier has not carried its burden of proof in this proceeding to show that there is express power under federal law for a national bank to sell substantially all of its assets under the factual circumstances presented in this proceeding," the NDBF's decision read in part.
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