McCook's Union Bank to become Horizon Bank

Angie Muhleisen, President & CEO of Union Bank & Trust Company and Janet Latimer, President & CEO of Horizon Bank jointly announced today that the McCook branch of Union Bank will become a part of Horizon Bank.

Both Union Bank and Horizon Bank are owned by the Dunlaps, a long-time Nebraska banking family. "We have enjoyed serving the McCook area. Transferring ownership of the McCook branch to Horizon Bank is keeping it in our family of banks. The banks share a common philosophy of banking and providing excellent customer service," stated Muhleisen.

Horizon Bank was founded in 1907 and has branches in Waverly and Superior.

"We are excited to expand our presence in southern Nebraska and offer great banking service to McCook. This will provide us additional opportunities to grow and diversify and offer the McCook area large bank services with a smaller bank personality," said Latimer.

The specific date of the transfer is pending normal regulatory approvals but is expected to be completed in approximately four months. Detailed information from Horizon Bank will be provided to each customer prior to the transfer.

No other Union Bank branch or Horizon Bank branch is affected by this transfer.

Union Bank & Trust has 31 branches serving 14 Nebraska communities and the Kansas City metro area, plus five agricultural loan production offices in five additional Nebraska communities. Union Bank is the fifth largest bank in Nebraska (second largest privately owned bank) with bank assets of $2.4 billion and trust assets under management of $8.0 billion as of December 31, 2008.

Horizon Bank, established in 1907, has been instrumental in the financing of affordable housing development since 1993. Horizon Bank has extended credit to more than 130 developments that have provided housing for approximately 3700 families and seniors in Nebraska. Horizon Bank's main branch is located in Waverly, and the bank has branches serving the communities of Waverly and Superior.

The bank had $119 million in assets as of Dec. 31, 2008.