October 1, 2014
LAS VEGAS (AP) - State regulators say a southern Nevada-based
bank has failed and its deposits are being transferred to another
Officials announced Friday that the Security Savings Bank of Henderson was taken over by the Federal Deposit Insurance Corporation.
The FDIC says Bank of Nevada has agreed to purchase all of the failed bank's deposits and a portion of its assets.
Officials say Security Savings Bank's two branches will reopen Monday under the Bank of Nevada name. Security Savings customers'
accounts will be transferred to Bank of Nevada.
At the end of last year, the Security Savings Bank had assets totaling about $238 million and about $175 million in deposits.