Charles Schwab is buying rival TD Ameritrade for $26 billion, a blockbuster deal accelerated by massive disruption in the online brokerage industry.

But what will happen to the thousands of employees who work here in Omaha?

The short answer: We don't know yet.

Most of TD Ameritrade's 2,400 workers are employed at its corporate headquarters in the Old Mill area of Omaha, near 108th Street and West Dodge Road. The mint green building is hard to miss.

With the announcement, 6 News learned the corporate headquarters will relocate from Omaha to Schwab's new campus in Westlake, Texas — in the Dallas-Fort Worth area, where TD Ameritrade already has a sizeable presence — but would keep a sizeable footprint in California.

Competitive pressure has already forced brokerages to make it free for customers to trade U.S. stocks online, and Schwab’s proposal would combine two of the biggest players in the industry.

The tie-up announced Monday would create a company so big, however, that it may draw sharp scrutiny from antitrust regulators, analysts say. Together the companies would have more than $5 trillion in client assets.

By itself, Schwab may control close to half the market for acting as a custodian for money managed by registered investment advisers, for example, while TD Ameritrade may control about 15% to 20%, according to Kyle Voigt, an analyst with Keefe, Bruyette & Woods.

But what will happen to the thousands of employees who work here in Omaha?

And what about TD Ameritrade Park, which has paid for the naming rights until 2031?

A statement issued Monday says the vast majority of San Francisco jobs won't be impacted by the decision. In fact, Schwab said it expects to continue hiring there.

But Schwab says some of its savings on the deal will come from the elimination of overlapping and duplicative roles — no specifics yet — but many experts believe those job overlaps would impact a number of positions in Omaha.

"We hope that these increased profits don’t come at the expense of local employees," said Brian Payne, a UNO assistant professor of finance. "I think that's a real concern, is the uncertainty for TD Ameritrade itself, for the community. That uncertainty can be very unsettling, and we just don't know what's going to happen. It's going to be another year before it comes to fruition."

In 1975,

' father, Joe, helped start the company that would become TD Ameritrade: a discount online broker allowing men and women at home to make stock trades.

Schwab is a bigger company in the same business, and plans to create savings by eliminating or streamlining jobs that are similar between the two companies.

In the summer of 2013, TD Ameritrade dedicated its $250 million corporate headquarters in the Old Mill Area. The green building was literal; it’s state of the art in energy efficiency.

Gov. Ricketts, who himself once served as the chief operating officer, says he, too, is anxious to see what Schwab decides to do with the Omaha jobs. He says he will work personally to make the case the Schwab to stay committed to Omaha.

The

and

both said Monday the highly skilled employees would be backed by the resources and support of the city when it comes to finding a new job. [Read the full statement from the Chamber below.]

"We have a natural reaction when unexpected news comes up and we think about the worst case," Payne said. "I tell my students to keep working hard and watch for what options may be available."

As for the stadium's naming rights, the greatest show on dirt may have also come with a new name. TD Ameritrade paid $20 million for the 20-year contract.

Omaha Chamber statement

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