Banks that have closed by the FDIC: First National Bank of Nevada & First National Bank of Arizona

	July 25, 2008: First National Bank of Nevada, Reno, NV, was closed by the Office of the Comptroller of the Currency (OCC). The Federal Deposit Insurance Corporation (FDIC) was named Receiver. The former First National Bank of Arizona, Scottsdale, AZ, which merged with First National Bank of Nevada on June 30, 2008, was included in this action. First National of Nevada had assets of $3.4 billion and total deposits of $3.0 billion. The FDIC entered into purchase and assumption agreements with Mutual of Omaha Bank, Omaha, Nebraska, to take over all of the deposits and certain assets of the First National Bank of Nevada and First National Bank of Arizona. The 25 offices of the two banks reopened on Monday, July 28, as branches of Mutual of Omaha Bank. All depositors, including those with deposits in excess of the FDIC's insurance limits, automatically became depositors of Mutual of Omaha Bank for the full amount of their deposits. Transferred deposits will be separately insured from any accounts you may already have at Mutual of Omaha Bank for six months after the failure. Mutual of Omaha Bank 3333 Farnam Street Omaha, NE 68131 866-351-5646 / 949-863-9780 / 213-628-4500 www.mutualofomahabank.com In addition to assuming all of the deposits of the bank, Mutual of Omaha Bank purchased approximately $200 million of assets from the receiverships of both First National Bank of Nevada and First Heritage Bank, which also failed on 25 July 2008. Mutual of Omaha Bank agreed to pay the FDIC a premium of 4.41 percent to assume the deposits. The cost to the Deposit Insurance Fund for both banks is estimated to be $862 million. For additional information and assistance contact the FDIC at: 866-674-8944 or go to: http://www.fdic.gov/bank/individual/failed/fnbnv.html
2008 FDIC Insured Failed Banks




First National Bank of Nevada 6275 Neil Road Reno, NV 89511
Established in 1987 as Laughlin National Bank

Assets: $3.4 billion
Deposits: $3.0 billion

Cost to FDIC: $862 million *

* First Heritage & First National of NV

Checks: Checks will be processed as usual. All outstanding checks will be paid against your available balances as if no change had occurred. Mutual of Omaha Bank will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, please contact Mutual of Omaha Bank at 888-419-5574

Interest: After July 25, 2008, your account will earn interest at a rate determined by Mutual of Omaha Bank. Depositors were notified by letter of changes regarding this matter.

Automatic Direct Deposits: Your automatic direct deposits and/or automatic withdrawals should be transferred automatically to your assuming institution. You should contact Mutual of Omaha Bank at 888-419-5574, however, to discuss your accounts and to insure that service is not delayed or discontinued.

Loans: If you had a loan with First National Bank of Nevada, you should continue to make your payments as usual. The terms of your loan will not change under the terms of the loan contract because they are contractually agreed to in your promissory note with the failed institution. Checks should be made to your former bank and sent to the same address until further notice.

Services: You may continue to use the services to which you previously had access, such as automatic teller machines (ATMs), safe deposit boxes, night deposit boxes, wire services, etc.

Creditor Claims: If you provided a service for First National Bank of Nevada and have not received a notice, please contact:

Federal Deposit Insurance Corporation
Receiver: First National Bank of Nevada
Attention: Claims Department, DRR
1601 Bryan Street
Dallas, Texas 75201
1-800-568-9161

Consumer Alert

Unclaimed FDIC Insured Deposits

Note: There are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes ...

If an insured depositor fails to make a claim an insured or transferred deposit within 18 months after the FDIC initiates the payment of insured deposits, the transferee institution must refund the deposit to the FDIC, and all rights of the depositor against the transferee institution are barred.

The FDIC then remits the insured deposit to the custody of the unclaimed property administrator in the account owner's home state, unless that state declines to accept custody. Upon delivery, the FDIC is deemed to have made payment to the depositor, and all rights of the depositor against the FDIC are barred.

Most states allow claims in perpetuity, but there's a reversion clause. If a depositor does not claim the deposit delivered to the custody of the State within 10 years of the date of delivery, the deposit must then immediately be refunded to FDIC, and all rights of the depositor against the state are barred.

It's important to note that If a state declines to accept custody of the deposit - which they sometimes do - the depositor must claim the funds from the FDIC before the receivership is terminated, or all rights of the depositor with respect to the deposit are barred. Dividends for credits arising from uninsured portions of a deposit may, however, be claimed after the receivership is terminated if a dividend check was returned by the post office for a bad address.

Be aware that due to the number of mergers and acquisitions in the banking industry over the years, it is possible you or a deceased family member might well have an account at a failed bank and not know it. Additionally, unclaimed safe deposit boxes at closed branches may be drilled and the contents sold at auction just weeks after closing, so prompt action is advised. For assistance go to: Unclaimed Account Search

History: Established in 1987 as Laughlin National Bank
1998 Changed name to First National Bank Of Nevada
2002 Reorganized.
2008 Acquired First National Bank Of Arizona
2008 Merged with government financial assistance and subsequently operated as part of Mutual of Omaha Bank