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Syringa FAQ


Welcome to Sunwest Bank. While the Syringa Bank name has changed, the commitment to meeting your financial needs remains strong as ever. Sunwest Bank is here to support you.

What happened to Syringa Bank?

On January 31, 2014, Syringa Bank was closed by the Idaho Department of Financial Institutions. The Federal Deposit Insurance Corporation (FDIC) was then named Receiver. Subsequent to the closure, Sunwest Bank, headquartered in Irvine, CA acquired substantially all of the deposits and assets of Syringa Bank from the FDIC as Receiver for Syringa Bank.  The former Syringa Bank reopened Monday, February 3, 2014 as part of Sunwest Bank. Due to regulatory policy, advance notice to customers or the public is not allowed when a bank is closed.

What happened to my accounts?

All of your Syringa Bank accounts are secure with Sunwest Bank. This includes all deposit accounts such as checking, savings, money market, Certificate of Deposit (CD) and retirement accounts. All direct deposits, including Social Security, will continue to be credited as normal. You can continue to bank as you always have without interruptions. In addition, all automatic payments will continue to be processed.

Are my deposits safe?

Yes. Sunwest Bank is a well-capitalized, strong, and trusted community bank. Depositor accounts at Sunwest Bank will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

The accounts transferred to Sunwest Bank under the assumption agreement will be separately insured for at least six months after January 31, 2014. This grace period gives a depositor the opportunity to restructure the accounts, if necessary.

Can I still use my Syringa Bank checks, deposit slips, ATM/Debit card, and online banking?

Yes. Please use all of your account features and transact your accounts just as you always have. Sunwest Bank will gladly process your checks and deposit slips bearing the Syringa Bank name, and businesses will continue to honor your Syringa Bank checks and debit card transactions for purchases.

What if I want to close my accounts?

There is no need to close your Syringa Bank accounts unless you would like to do so for personal reasons. You are a valued client of Sunwest Bank and we invite you to continue your banking relationship with us.

Can I do my banking at other Sunwest Bank locations or online at SunwestBank.com?

Until we have fully integrated the Syringa Bank systems with ours, please continue using your current branch and Internet banking system. Syringa Bank customers can log in to their respective Internet banking systems as they would normally. Once we notify you that we have integrated Syringa Bank's systems, you will be able to utilize the entire Sunwest Bank branch network and online banking options as you wish.

Unpaid Bills: I did some work for Syringa Bank and have not been paid. What should I do?

All claims against Syringa Bank, together with proof of the claims, must be submitted in writing to the Receiver at the following address.

FDIC As Receiver For Syringa Bank

1601 Bryan Street

Dallas, TX 75201-3430

Attention: Claims Agent