Feds Seize 2 Failed Banks

Western banks sold to Mutual of Omaha
By Rob Quinn,  Newser Staff
Posted Jul 26, 2008 6:07 AM CDT
A bank employee posts a notice that 1st National Bank of Nevada is in FDIC receivership yesterday after federal regulators closed the bank in Carson City, Nev.    (AP Photo/Nevada Appeal, Brad Horn)
camera-icon View 2 more images

(Newser) – The housing bust and credit crunch have toppled two more banks, Reuters reports. Federal regulators have taken over First National Bank of Nevada and California's First Heritage Bank and sold them to Mutual Bank of Omaha. The undercapitalized institutions were the sixth and seventh to go under in the US this year, and banking regulators warn more are likely to follow.