M&AFinancial ServicesCLOSED
FDIC Appoints Sunwest Bank as Nano Banc's Acquiring Institution
Acquirer
Sunwest Bank
Target
Nano Banc
Sunwest Bank has acquired Nano Banc of Irvine, California, through an FDIC-assisted acquisition. The Federal Deposit Insurance Corporation (FDIC) accepted the receivership of Nano Banc from the Department of Financial Protection and Innovation.
✦ Meridian Analysis
This is a regulatory-driven acquisition in the US financial services sector. While not a European mid-market deal, it represents a typical resolution scenario for a failed bank, with an established institution taking over its assets and liabilities.
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