Sunwest Bank Acquires Failed Nano Banc in FDIC-Assisted Deal
The FDIC placed Nano Banc into receivership and selected Sunwest Bank as the acquiring institution in an assisted transaction.
Sunwest Bank has taken over Nano Banc of Irvine, California, through an FDIC-assisted acquisition, regulators announced September 25, 2026. The Federal Deposit Insurance Corporation accepted receivership of Nano Banc from the California Department of Financial Protection and Innovation, triggering the government-supervised transfer.
FDIC-assisted acquisitions are a standard resolution tool used when a bank fails, allowing a healthier institution to absorb the failed bank's deposits and assets while minimizing disruption to customers. The process is designed to protect insured depositors and maintain stability in local banking markets.
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Sunwest Bank, also based in Irvine, California, was selected by the FDIC as the acquiring institution, meaning Nano Banc customers can generally expect continued access to their accounts through the successor bank. Regulators typically ensure depositors experience minimal interruption during such transitions.
The DFPI, California's primary state banking regulator, initiated the receivership action before handing oversight to the federal agency, following the established protocol for state-chartered bank failures. The coordination between state and federal regulators reflects the dual-chartering system that governs most community banks in the United States.
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