The Daily Buyout
~$476MreportedStrategic acquisitionFinancial ServicesCompleted

Nano Banc fails; Sunwest Bank assumes most assets and deposits

Irvine, California-based Nano Banc was closed Friday by state regulators, with the FDIC appointed receiver and Sandy, Utah-based Sunwest Bank agreeing to assume most of its assets, deposits and loans. Nano's single branch reopened Monday as a Sunwest location. Regulators cited deteriorating finances, a multi-year pattern of executive mismanagement and a $75.3 million net loss.

Why it matters: Nano is the sixth US bank failure of 2026, making this year the decade's worst for collapses and keeping FDIC-assisted deals in play.

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More Financial Services deals

$240MStrategic acquisitionFinancial ServicesOct 8, 2026

Third Coast to buy Oklahoma's Great Plains for $240M

Houston-based Third Coast Bancshares agreed to acquire Great Plains National Bank's parent in a $240 million all-stock deal. Great Plains has $1.9 billion in assets, $1.7 billion in deposits and 23 branches across Oklahoma and Texas, and will operate as a division of Third Coast Bank.

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