Sunwest Bank Assumes $605M in Deposits in FDIC-Backed Nano Banc Deal
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Irvine, Calif. – September 25, 2026 -- Sunwest Bank has acquired Nano Banc of Irvine, California, in an FDIC-assisted transaction that transfers approximately $605 million in deposits and $227 million in loans to the Sandy, Utah-based lender.
Regulators shut Nano Banc on September 25 before handing control to Sunwest
California's Department of Financial Protection and Innovation closed Nano Banc on Friday, September 25, placing it into FDIC receivership. The FDIC then entered an agreement with Sunwest Bank to acquire substantially all of Nano Banc's deposits and a portion of its assets, including the $605 million deposit book and $227 million loan portfolio.