Bank Failure
First National Bank of Nevada
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Closed July 25, 2008 · Reno, NV · FDIC Cert #27011.
- Closing date
- July 25, 2008
- Headquarters
- Reno, NV
- FDIC Certificate
- 27011
- Total assets at closing
- $3.41B
- Total deposits at closing
- $3.04B
- Estimated loss to the insurance fund
- $709.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Mutual of Omaha Bank
Context
On July 25, 2008, regulators closed First National Bank of Nevada, headquartered in Reno, NV. At closing, the institution held approximately $3.41B in assets and $3.04B in deposits. The FDIC record names Mutual of Omaha Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $709.6M.
By assets at closing this is the 62nd largest of the 3,526 bank failures in the FDIC record, and the 6th of 25 in 2008. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did First National Bank of Nevada fail?
First National Bank of Nevada was closed by regulators on July 25, 2008.
Who acquired First National Bank of Nevada?
The FDIC record names Mutual of Omaha Bank as the acquiring institution in the resolution of First National Bank of Nevada.
How big was First National Bank of Nevada when it failed?
First National Bank of Nevada had approximately $3.41B in total assets and $3.04B in deposits at the time of failure.
Other failures in 2008
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Haven Trust Bank | $559.6M |
| Dec 12, 2008 | Sanderson State Bank | $38.2M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 21, 2008 | The Community Bank | $634.9M |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
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