Union Bank and Trust: Services, Ownership, and Facts

If you’ve ever tried to look up a bank named “Union Bank,” you may have landed on three different institutions in three different countries — and none of them connected. One of them, Union Bank & Trust in Nebraska, is a regional powerhouse with a century of history, yet it gets confused with unrelated giants overseas.

Headquarters: Lincoln, Nebraska ·
Founded: 1917 ·
Type: Privately owned, state-chartered commercial bank ·
State Ranking: Third-largest bank in Nebraska ·
Primary Services: Banking, lending, trust services

The table above shows the bank’s core regulatory and structural details, confirming its status as a fully chartered institution.

What does Union Bank and Trust do?

Personal banking services

• Checking and savings accounts
• Certificates of deposit (CDs)
• Individual retirement accounts (IRAs)
• Online and mobile banking via UBTgo app

Union Bank & Trust provides a full line of personal banking and lending services, according to the University of Nebraska–Lincoln Newsroom (business program announcement).

Business lending and trust services

• Business checking and savings
• Commercial lending
• Treasury management
• Payroll services
• Trust administration, estate planning, investment management
• Life, property, and casualty insurance

UBT says it offers comprehensive business banking, treasury management, and trust services for individuals, families, and employer-sponsored benefit programs University of Nebraska–Lincoln Newsroom. It also runs its own family of mutual funds and sells insurance products.

The bank markets itself as a team-based service model where customers get a dedicated group rather than a single banker Union Bank & Trust official homepage.

Is UBT a real bank?

Regulatory status and charter

Yes, Union Bank & Trust is a real, state-chartered commercial bank Union Bank & Trust (Minnesota) official Our Story page. It operates under the supervision of the Nebraska Department of Banking and Finance (state banking regulator).

Deposit insurance and legitimacy

Deposits at Union Bank & Trust are FDIC insured Union Bank & Trust (Minnesota) official site. This means each depositor is covered up to $250,000 per ownership category. The bank has been operating continuously since 1917 and is the third-largest bank in Nebraska by assets Wikipedia – Union Bank & Trust Company (Nebraska).

Who is the owner of Union Bank and Trust?

Ownership structure

Union Bank & Trust Company is privately owned. It is not publicly traded on any stock exchange. The bank’s official About page states that it was purchased by the Dunlap family in 1965, and the bank remains under the management of that same family.

History of private ownership

The Dunlap family, described as a long-time Nebraska banking family, bought the bank in 1965 University of Nebraska–Lincoln Newsroom. The bank’s culture of caring is traced directly to Jay Dunlap’s leadership after that purchase Union Bank & Trust official About page. There is no publicly available detail on whether ownership is held by a single individual or a family holding company.

What bank is affiliated with Union Bank?

Distinction from UnionBank of the Philippines

UnionBank of the Philippines is a separate publicly traded bank based in Manila. Union Bank & Trust (Nebraska) has no ownership or operational connection to it Wikipedia.

Distinction from Union Bank of Nigeria

Union Bank of Nigeria is a commercial bank headquartered in Lagos, Nigeria. It is not related to the Nebraska bank Wikipedia.

No affiliation with U.S. Bank

Despite the similar name, U.S. Bank (a national chain) is not the same institution. U.S. Bank did acquire a different entity — Union Bank (California) — in 2022 Wikipedia – Union Bank (California). Union Bank & Trust in Nebraska was not part of that transaction and remains independent.

What bank took over Union Bank?

U.S. Bank merger with Union Bank (California)

In 2022, U.S. Bank completed its acquisition of Union Bank (California), a separate institution that had branches primarily in California and the Pacific Northwest Wikipedia – Union Bank (California). This merger made headlines and caused many consumers to wonder whether their local Union Bank had been sold.

Impact on Union Bank & Trust (Nebraska)

None. Union Bank & Trust in Nebraska was unaffected by the merger. It continues to operate under its original charter, ownership, and brand. A profile in Edge Magazine describes UBT’s recent expansion, including a new 137,000-square-foot Omaha flagship at Heartwood Preserve built after the U.S. Bank merger.

Timeline

• 1917: Union Bank & Trust Company founded as Farmer’s State Bank in Lincoln, Nebraska University of Nebraska–Lincoln Newsroom.
• 1935: Bank changes name to Union Bank University of Nebraska–Lincoln Newsroom.
• 1959: Trust powers added, institution becomes Union Bank & Trust Company University of Nebraska–Lincoln Newsroom.
• 1965: Purchased by the Dunlap family Union Bank & Trust official About page.
• 2022: U.S. Bank completes acquisition of Union Bank (California); no effect on Union Bank & Trust (Nebraska) Wikipedia – Union Bank (California).
• Present: Union Bank & Trust operates as an independent, privately owned bank with multiple branches in Nebraska and parts of Kansas. Its Omaha flagship at Heartwood Preserve opened after 2022 Edge Magazine.

The timeline shows a century of continuous private ownership, with the Dunlap family’s 1965 acquisition as the defining event that shaped the bank’s modern identity.

What’s confirmed and what’s unclear

Quotes from the bank and Wikipedia

“Union Bank & Trust has a culture of caring that can be traced back to the leadership of Jay Dunlap.”

Union Bank & Trust official About page (bank’s self-description)

“Union Bank & Trust Company is a privately owned bank headquartered in Lincoln, Nebraska, and is the third-largest bank in the state.”

Wikipedia – Union Bank & Trust Company (Nebraska) (summary)

“UBT opened a five-story flagship location at Heartwood Preserve in Omaha, spanning 137,000 square feet.”

Edge Magazine profile (business and community publication)

Union Bank & Trust in Nebraska is what it has always been: an independent, family-owned bank that serves Nebraska and parts of Kansas. For customers there, the key takeaway is straightforward. For anyone searching “Union Bank” online, the confusion with other entities is real — but the Nebraska bank’s identity is clear. If you bank with UBT in Lincoln or Omaha, your institution was not acquired by U.S. Bank, is not tied to a Philippine or Nigerian bank, and remains under the same family that has run it for over half a century.

Frequently asked questions