FDIC Assists in Sunwest Bank's Successful Acquisition of Nano Banc

On September 25, 2026, Sunwest Bank completed the acquisition of Nano Banc in Irvine, California. This significant move was facilitated by the Federal Deposit Insurance Corporation (FDIC), which took control of Nano Banc following its closure due to regulatory actions by the Department of Financial Protection and Innovation (DFPI). This acquisition marks an important milestone for both banks and highlights Sunwest's reputation in the financial sector.

The FDIC stepped in as a receiver for Nano Banc, officially closing the institution that Friday afternoon. Subsequently, an agreement was reached with Sunwest Bank, allowing it to take over nearly all the deposits and a portion of Nano Banc’s assets. The figures are substantial: Sunwest has assumed approximately $605 million in deposits and $227 million in loans. This seamless transition ensures that Nano Banc customers won’t face any interruptions in service.

As part of the acquisition, customers were able to access their funds through various means including checks, ATMs and debit cards over the weekend. Checks previously issued by Nano Banc will continue to be processed, and loan customers have been advised to maintain their regular payment schedules. Notably, all banking operations under the Sunwest Bank name will recommence on Monday, September 28.

Carson Lappetito, the President and CEO of Sunwest Bank, expressed pride in being the chosen acquiring institution once again. This transaction marks the sixth FDIC-assisted acquisition that Sunwest Bank has successfully completed. Lappetito noted, “This opportunity reflects the financial strength and disciplined management that have been the hallmarks of Sunwest Bank for over fifty years.” His statement assures customers that they are now part of a robust institution that prioritizes customer service and advanced banking technology.

Sunwest Bank, which was founded in 1969 and has grown to encompass over $5 billion in assets, aims to enhance its customer's banking experience through technology-driven solutions. They have a presence across several key states including California, Arizona, Idaho, Colorado, Utah, and Florida, focusing on delivering exceptional financial services tailored to both businesses and individual clients.

The bank is committed to innovative solutions, aiming to challenge traditional banking practices and support its client base through all economic phases with a Fortress Balance Sheet approach. By strategically growing its portfolio and customer base through acquisitions such as this, Sunwest Bank is set on a continuous path of innovation and customer service excellence.

If Nano Banc customers or anyone interested in the acquisition has questions, the FDIC has made resources available, including a dedicated phone line operational during specified hours. Clients are encouraged to reach out for any inquiries or further information regarding their banking services.

In conclusion, the acquisition of Nano Banc by Sunwest Bank underscores a significant transition within the banking landscape, facilitated by the FDIC's intervention. For customers of Nano Banc, this change brings about new opportunities for enhanced banking experiences under Sunwest's established reputation. With an eye towards the future, Sunwest looks to integrate its services with Nano Banc’s existing clientele, promising an approach that straddles both quality and technological innovation in the banking sector.