Business

Castle Bank parent company cutting jobs

Posted January 27, 2009 10:00 pm

Associated Press

OMAHA, Neb. -- First National Bank of Nebraska plans to eliminate 350 jobs across its operation, but most of the layoffs will be made in Omaha where the bank is based.

First National announced the plan to cut some of its 6,500 employees on Wednesday. Spokesman Kevin Langin says the bank is trying to cut costs because the recession has hurt business and contributed to more credit card defaults.

First National of Nebraska runs a nationwide credit card business and owns banks in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas. It operates as Castle Bank in northern Illinois, where it has locations in Yorkville, DeKalb, Belvidere and other communities.

About 250 jobs will be eliminated in Omaha; the remaining cuts will be made throughout the rest of the company.

First National has about $21 billion in assets.

Article Comments

Article Categories
Business Communities Content Providers Sugar Grove

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.