In 2010, another failed bank was purchased byMutual of Omaha, Florida-based Marco Community Bank. It was also incorporated intoMutual of Omaha and converted to Fiserv's Signature.
After these conversions,Mutual of Omaha became to be a vigorous, technologically advanced thrift with more than $4 billion in assets and a network of 43 branches (or 'full-service community banks', as it calls them) in Florida, Texas, Nebraska, Colorado, Nevada, Arizona and California, and two loan production offices in Iowa and Kansas. The institution is capable of realising its CEO's ambitious plans, such as expansion intoWashington, Utah, Tennessee, Georgia, and North Carolina, as well as the launch of an online bank that is marketed nationally.
Looking back at the conversion, a large project by any measure,Moritz was pleased and felt that all objectives have been met. The decisions to keep customisation minimal and to adapt new business processes to the new system both helpedMutual of Omaha meet its deadlines. It helped, too, that the incumbent core systems at the acquired banks were fairly basic and not customised. 'If the banks had been larger with many unique products,' said Moritz, 'we would not have been able to do that'.
