Feds Seize Two More Banks

CARSON CITY, Nev. — Two banks operating in Nevada, Arizona and California _ 1st National Bank of Nevada and First Heritage Bank N.A. _ were closed Friday by federal regulators.
The 28 branches of the banks, owned by Scottsdale, Ariz.-based First National Bank Holding Co., were scheduled to reopen on Monday as Mutual of Omaha Bank branches, the Federal Deposit Insurance Corp. said.
The FDIC said the takeover of the failed banks was the least costly resolution and all depositors _ including those with funds in excess of FDIC insurance limits _ will switch to Mutual of Omaha with "the full amount of their deposits."
The FDIC also said accountholders can access their funds during the weekend by writing checks or using ATM or debit cards.
As of June 30, the closed banks had total assets of $3.6 billion. That's down from $4.1 billion six months earlier. Most of the assets are in 1st National while First Heritage N.A. accounts for $254 million.
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