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.
Nano Banc customers retain immediate access to funds during the transition
Depositors can continue writing checks, using ATMs and debit cards over the weekend, with checks drawn on Nano Banc still processed. Loan customers were instructed to continue making payments as usual. The former Nano Banc branches will reopen as Sunwest Bank on Monday, September 28.
Sunwest marks its sixth FDIC-assisted acquisition
Carson Lappetito, President and CEO of Sunwest Bank, said the deal marks the sixth time the bank has been selected by the FDIC as an acquiring institution in an assisted transaction. He attributed the selection to the bank's financial strength and disciplined management over more than five decades of operation.
Sunwest operates with over $5.0 billion in assets across six states
Sunwest Bank, headquartered in Sandy, Utah, holds more than $5.0 billion in assets with offices across California, Arizona, Idaho, Colorado, Utah and Florida. The bank offers commercial and real estate lending, treasury management technology, and corporate financial solutions to businesses and entrepreneurs nationwide.
Customers with questions were directed to contact the FDIC toll-free at 1-866-314-1744, with phone support scheduled through the weekend and into the following week.