Nano Banc, an Irvine, California bank, failed on September 28, 2026. Sunwest Bank assumed all of the failed bank's deposits and certain assets, and reopened the bank's sole branch as a Sunwest location. According to the FDIC, deposits remain insured and customers have immediate access to their funds.
As of June 30, 2026, Nano Banc reported total assets of $736 million and total deposits of $686 million. Sunwest Bank agreed to assume substantially all of those deposits and will purchase approximately $476 million of the bank's assets. The FDIC will retain the remaining assets for later disposition.
Customers can access their money over the weekend by writing checks or using ATM and debit cards. Checks drawn on Nano Banc will continue to be processed. Loan customers should continue making payments as usual. The FDIC preliminarily estimates the failure will cost the Deposit Insurance Fund approximately $114 million, though this figure is expected to change as retained assets are sold.