Nebraska’s Pinnacle Bank buying American National Bank of Fremont; terms not disclosed

Neb.’s Pinnacle Bank buying American National Bank

FREMONT, Neb. — Pinnacle Bank says it is buying American National Bank of Fremont, Neb.

Pinnacle Bank, a subsidiary of Central City, Neb.-based Pinnacle Bancorp, announced the deal Tuesday.

The transaction is expected to close in December pending approval from regulators. Terms are not being released.

American National Bank has three branches in Fremont, with 38 employees, and reported nearly $167 million in assets at the end of the second quarter.

Pinnacle Bank President Mark Hesser says American Bank staff members will be retained.

Pinnacle Bank reported $2.6 billion in assets as of June 30. It says it has more than 580 employees at 56 branches in three states, including 51 in Nebraska.