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Buffalo County board approves pooled pledged collateral arrangement with FNBO
Summary
The board adopted Resolution 2025‑62 authorizing First National Bank of Omaha to hold Buffalo County deposits as pooled pledged security under Neb. Rev. Stat. Sec. 77‑2398 (LB 909). Members also approved small releases and deletions of pledged collateral at local banks. All votes were 6 Aye, 1 absent.
Vice‑Chairperson Bill D. Maendele presided as the Buffalo County Board of Commissioners approved a pooled pledged collateral arrangement with First National Bank of Omaha on Oct. 14, 2025.
Buffalo County Treasurer Brenda Rohrich presented the county’s options for securing public deposits. The board voted to adopt Resolution 2025‑62, which cites LB 909 and Neb. Rev. Stat. Sec. 77‑2398 and authorizes county officials to execute documents allowing FNBO to hold county funds through a pooled pledged security mechanism. The motion was made by Timothy Higgins and seconded by Daniel Lynch and passed by roll call (Higgins, Lynch, Klein, Kouba, Loeffelholz and Maendele voting “Aye”; Sherry Morrow absent).
The board also approved two related, routine adjustments to pledged collateral: release of $1,340.63 in pledged collateral at Firstier Bank and deletion of $1,047.09 in pledged collateral at FNBO for the treasurer’s accounts. Both motions passed by the same 6‑0 roll call pattern.
The resolution describes the statutory alternative for securing public deposits — a deposit guaranty bond or a pooled pool of securities with an aggregate market value at least 102% of uninsured deposits — and directs county officials to take necessary actions to implement the arrangement with the bank.
The board’s action updates the county’s handling of collateral for bank deposits but does not itself change county fund balances. Officials said documents authorizing the arrangement will be signed as needed to implement the pooled security approach.
The board adjourned the item with the county’s financial officers authorized to carry out the resolution’s directions.
