Failed banks to reopen with new name

July 28, 2008 5:06:22 AM PDT
As of today, customers of 1st National Bank of Nevada and First Heritage Bank N.A. will be doing business at Mutual of Omaha Bank.The latest two banks to fail were shut down by federal regulators Friday. They were owned by the Scottsdale, Arizona-based First National Bank Holding Company.

First Heritage operates in California. First National has branches in Nevada and Arizona.

The Federal Deposit Insurance Corporation says all depositors will still have access to their money, including funds in excess of FDIC insurance limits. The FDIC also says account holders can write checks, and use ATMs and debit cards to get their money.

The FDIC says the takeover of the failed banks is the least costly resolution of the situation.