Regulators seize Sun West Bank


Regulators late Friday seized Sun West Bank, and City National Bank of Los Angeles took over the deposits.

"Nevadans can be confident that their deposits are safe," Financial Institutions Commissioner George Burns said in a statement.

"Due to inadequate capital and mounting loan losses, it was necessary to close Sun West Bank and appoint the FDIC as receiver," said Commissioner Burns.

Sun West Bank customers will continue to have access to banking services over the three-day holiday weekend.

 

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