Two more... Expect many more each Friday afternoon...
http://www.fdic.gov/bank/individual/failed/fnbnv.html
On July 25, 2008, First National Bank of Nevada, Reno, NV, was closed by the Office of the Comptroller of the Currency (OCC). Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. As of June 30, 2008, the former First National Bank of Arizona, Scottsdale, AZ, merged with First National Bank of Nevada and is included in this action.
http://www.fdic.gov/bank/individual/failed/heritage.html
On July 25 2008, First Heritage Bank N.A., Newport Beach, CA was closed by the Office of the Comptroller of the Currency (OCC). Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
Locations are not really surprising- Nevada and California...I'll post more this afternoon but FYI- even though bank's stocks rebounded over the last week or two- value of most securities on bank's balance sheet hasn't- what's more commercial spreads set new highs (high is bad- means lower prices) on Friday...
