BREAKING NEWS: Utah’s Sunwest Bank Acquires Failed California Bank and Adds $605 Million in New Deposits
EXECUTIVE SUMMARY
✅ Sandy, Utah-based Sunwest Bank has acquired substantially all of the deposits and a portion of the assets of failed Irvine, California-based Nano Banc, assuming approximately $605 million of deposits and $227 million of loans.
✅ The Federal Deposit Insurance Corporation says Sunwest is purchasing ~$476 million of
