Nano Banc Acquisition

FDIC Appoints Sunwest Bank as Nano Banc’s Acquiring Institution

Sunwest Bank has acquired Nano Banc of Irvine, California in an FDIC-assisted acquisition. The Federal Deposit Insurance Corporation (FDIC) accepted receivership of Nano Banc from the Department of Financial Protection and Innovation (DFPI), which closed Nano Banc on Friday, September 25th. The FDIC subsequently entered into an agreement with Sunwest Bank, under which Sunwest agreed to acquire substantially all the deposits and a portion of assets of Nano Banc. The assumed deposits total approximately $605 million and assumed loans total $227 million.

Nano Banc customers will have immediate access to their deposits. Over the weekend, they can access their deposits by writing checks, using ATMs or through their debit cards. Checks drawn on Nano Banc will continue to be processed. All loan customers should continue to make their payments as usual. The former Nano Banc will reopen as Sunwest Bank on Monday, September 28th.

“We are honored to once again to be selected by the FDIC as the acquiring institution of an FDIC-assisted acquisition, marking the sixth time Sunwest Bank has completed such a transaction,” said Carson Lappetito, President and CEO of Sunwest Bank. “This opportunity reflects the financial strength, disciplined management, and stability that have defined Sunwest Bank for more than five decades. We are excited to welcome Nano Banc’s customers to Sunwest and show them the high-touch service, advanced technology and sophistication we offer to our clients.”

Customers with questions should contact the FDIC toll-free at 1-866-314-1744 or visit the FDIC Website. The phone number will be operational this evening until 8:00 p.m., Pacific Time (PT); on Saturday from 9:00 a.m. to 5:00 p.m., PT; Sunday from 12:00 p.m. to 4:00 p.m., PT; Monday from 8:00 a.m. to 5:00 p.m., PT, and thereafter, weekdays from 8:00 a.m. to 4:00 p.m., PT.

About Sunwest Bank

Founded in 1969, Sunwest Bank is a privately held commercial bank with over $5 billion in assets. With a growing presence throughout the United States, Sunwest is headquartered in Sandy, Utah, with offices across California, Arizona, Idaho, Colorado, Utah, and Florida. The bank partners with businesses, individuals, and entrepreneurs nationwide to deliver leading banking services including technology forward treasury management, commercial and real estate lending products, and corporate financial solutions.

With a strong capital position and a commitment to innovation, Sunwest Bank continues to challenge traditional banking models through forward-thinking initiatives designed to support its clients’ growth and long-term success. Sunwest Bank operates with a Fortress Balance Sheet, long-term outlook, and has an impeccable track record of supporting their clients through all economic cycles.

SUNWEST BANK PROVIDES:

Consistency and reliability – unwavering stability through economic cycles, mergers, and system transitions.
Direct access to decision-makers – no call centers, just responsive, relationship-driven service all the way to the top of the organization.
Financial strength and security – through prudent credit and balance sheet management, Sunwest’s Fortress Balance Sheet and culture allow them to navigate all economic cycles.
A conservative, forward-looking approach – ensuring that its strength continues to translate into opportunity for the businesses they serve.

Sunwest Bank remains strong, stable, and focused on its clients. Their entrepreneurial culture allows them to maintain the flexibility and responsiveness that other institutions often lose as they grow. Sunwest believes strength begins with discipline, and their financial foundation reflects that philosophy.

Frequently Asked Questions

GENERAL QUESTIONS

What happened to my bank?

On Friday, September 25, 2026, Nano Banc, Irvine, California was closed by the California Department of Financial Protection and Innovation. The Federal Deposit Insurance Corporation (FDIC) was then appointed Receiver. The FDIC entered into a purchase and assumption agreement with Sunwest Bank, Sandy, Utah, to assume substantially all deposits and acquire certain assets of Nano Banc. This action supports continued access to banking services and protects depositors through the FDIC resolution process.

Why was Sunwest Bank selected?

The FDIC selected Sunwest Bank through its resolution process to assume designated accounts and banking relationships, helping customers continue banking with minimal disruption.

Is my money safe?

Yes! No one lost any money on deposits as a result of the closure of this bank. Substantially all deposits, regardless of dollar amount, were transferred to Sunwest Bank.

Do I need to open a new account?

No. In most cases, accounts transfer automatically to Sunwest Bank. We will contact you if any action or additional documentation is required.

Can I still access my money?

Yes! You may continue to use your same checks, and they will clear up to the balance in your account. Your ATM/Debit card will continue to work as usual. The total balance in your account(s), including checking, savings, money market, certificates of deposit, and retirement accounts, has been transferred to Sunwest Bank and will be available for transactions daily.

Do I need to change automatic payments or direct deposits?

All direct deposits, for example, social security, payroll, veterans’ benefits, disability, unemployment or any payment you receive electronically will continue as usual.

ONLINE AND MOBILE BANKING

Will my auto payments, bill pay and online banking still work?

Yes! These services will continue as usual. Your routing number and account number will remain the same until you are notified in writing by Sunwest Bank.

LOANS

What happens to my loan?

Your loan terms, payment obligations, maturity date, and interest rate generally remain unchanged unless Sunwest Bank communicates otherwise.

Where do I send loan payments?

You should continue to make your payments according to the terms of your written contract. You may continue to send your payments to the same payment address with checks made payable to Nano Banc. You will receive a letter advising you of any changes.

Can I still use my line of credit?

Certain lines of credit have been transferred to Sunwest Bank. For questions on the use of existing credit lines and overdrafts, or new lending, please contact us directly.

BUSINESS BANKING

What happens to my treasury management services?

Sunwest Bank is evaluating treasury management services to support continuity. Our team will contact affected business clients regarding ACH, wire transfers, remote deposit capture, positive pay, and other treasury services.

Can I still send ACH files?

Continue normal operations unless you receive specific instructions from Sunwest Bank. We will provide advance notice of required changes.

Can I still send and receive wire transfers?

Wire transfer services are expected to continue, subject to operational and regulatory requirements. Contact us promptly if you experience an issue.

What happens to merchant services and card processing?

Merchant service relationships may continue without interruption. We will provide additional details if servicing changes are required.

FDIC INSURANCE

What if I had accounts at both institutions?

If you have accounts in both Nano Banc and Sunwest Bank, they will be insured separately for at least six months following the merger of the banks. This will allow you time to restructure your accounts if necessary.

Who can help me understand my insurance coverage?

A Sunwest Bank representative can review your deposit ownership categories and help you understand how FDIC insurance rules apply to your accounts.

BRANCHES AND BANKING LOCATIONS

Will my branch remain open?

Sunwest Bank will communicate branch operating information and any future changes as soon as possible. Our goal is to minimize disruption to customers and communities.

Will I continue working with the same banking team?

Whenever possible, we will support continuity for clients. Staffing or organizational changes may occur over time, and we will communicate changes that affect your relationship.

What Should I Do Now?

Continue using your accounts as you normally would.
Continue making loan payments as scheduled.
Monitor your email and postal mail for official updates from Sunwest Bank.
Contact us if you have difficulty accessing an account or completing a transaction.
Confirm that your email address, mailing address, and phone number are current.

Contact Us

For your account questions and support, please contact 844-626-0262.

For questions about Sunwest Bank, please contact 800-330-9890 or visit our website at www.SunwestBank.com.

We appreciate the opportunity to serve you and look forward to building a long-term banking relationship with you.

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