Mutual of Omaha Bank and PrimeLending Announce Mortgage Joint Venture

Newly Created Mutual of Omaha Mortgage to Begin Operations in Third Quarter

OMAHA & DALLAS (April 13, 2016) – Dallas-based residential mortgage lender PrimeLending and Mutual of Omaha Bank today announced a joint venture that will create a new company to provide a wide range of home financing services.

“We are excited to partner with PrimeLending to create Mutual of Omaha Mortgage and to extend a full suite of home financing products and services to our customers,” said Jeff Schmid, Chairman and CEO of Mutual of Omaha Bank. “Mutual of Omaha Mortgage brings together two culturally similar firms and leverages the best of both.”

“The entire team at PrimeLending is thrilled with the opportunity to partner with a company as respected as Mutual of Omaha Bank,” said Todd Salmans, Chairman and CEO of PrimeLending. “Working together, this new mortgage company will feature an incredible customer-service platform that will demonstrate our joint commitment to delivering service beyond expectations.”

Mutual of Omaha Mortgage will be owned by PrimeLending Ventures Management, LLC, a wholly owned subsidiary of PrimeLending, and Mutual of Omaha Bank. It will be governed by a joint operating committee with representation from both parties.

Mutual of Omaha Mortgage will begin recruiting for a wide-variety of positions within the next 45 to 60 days. After building its team, Mutual of Omaha Mortgage is expected to begin operations in the third quarter of 2016. It will offer a wide range of home financing options for customers, providing expert assistance from application through closing.