Data / Bank failures / 2008 / First National Bank of Nevada
First National Bank of Nevada, Reno, NV: failed July 25, 2008
First National Bank of Nevada in Reno, Nevada, failed on July 25, 2008. Mutual of Omaha Bank of Omaha, NE, took over its deposits. It held $3.41 billion in assets and $3.04 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $709.6 million (20.8% of its assets). By assets it was the 9th largest of 30 banks closed or assisted in 2008.
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The FDIC's record
- Closed
- July 25, 2008
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Mutual of Omaha Bank, Omaha, NE
- Total assets
- $3,411,145,000
- Total deposits
- $3,038,053,000
- Estimated cost to the FDIC
- $709,606,720 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- DIF
- FDIC certificate
- 27011
Other bank failures in Nevada, 2006 to 2010
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Southwestusa Bank | Las Vegas | July 23, 2010 | $203.7 million | $184 million | $86.3 million | Plaza Bank |
| Nevada Security Bank | Reno | June 18, 2010 | $492.5 million | $479.8 million | $70 million | Umpqua Bank |
| Sun West Bank | Las Vegas | May 28, 2010 | $360.7 million | $353.9 million | $116 million | City National Bank |
| Carson River Community Bank | Carson City | February 26, 2010 | $51.1 million | $50 million | $14.5 million | Heritage Bank of Nevada |
| Community Bank of Nevada | Las Vegas | August 14, 2009 | $1.40 billion | $1.37 billion | $558 million | |
| Great Basin Bank of Nevada | Elko | April 17, 2009 | $238.9 million | $220.8 million | $20 million | Nevada State Bank |
| Security Savings Bank | Henderson | February 27, 2009 | $238.3 million | $174.9 million | $32.3 million | Bank of Nevada |
| Citibank, National Association (assistance) | Las Vegas | November 23, 2008 | $1.21 trillion | $230.04 billion |
Other failed banks Mutual of Omaha Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Marco Community Bank | Marco Island | FL | February 19, 2010 | $119.6 million | $117.1 million | $25.6 million | Mutual of Omaha Bank |
| First Heritage Bank N.A. | Newport Beach | CA | July 25, 2008 | $255.4 million | $234.8 million | $92.1 million | Mutual of Omaha Bank |
All bank failures in 2008 · All bank failures in Nevada · Every failed bank Mutual of Omaha Bank took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.