Fitch stabilizes First National of Nebraska view

Fitch Ratings said it changed the outlook to stable from negative and affirmed the long-term issuer default ratings of First National of Nebraska, Inc. and its operating subsidiary, First National Bank of Omaha, at BBB.

“Today's affirmation and revision of the outlook to stable reflects FNNI's solid financial performance compared with Fitch's assumptions from the onset of the pandemic. FNNI's asset quality metrics have outperformed Fitch's assumptions and have improved from pre-pandemic levels, which has resulted in record earnings performance for FY2020 and has contributed to a significant increase in capital ratios over the last year,” the agency said in a press release.

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