2 more U.S. banks fail
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WASHINGTON: Federal regulators closed two small Western banks Friday, bringing to seven the number of U.S. banks that have failed this year.
The banks, owned by First National Bank Holding Co. of Scottsdale, Arizona, will have their deposits and some assets transferred to Mutual of Omaha Bank, according to the Federal Deposit Insurance Corp., or FDIC.
One bank, First National Bank of Nevada, based in Reno with $3.4 billion in assets, also operates as First National Bank of Arizona. The other, First Heritage Bank, based in Newport Beach, California, had $254 million in assets and primarily served businesses. The banks were undercapitalized, ...
