Government Closes Two Banks

The continuing credit crisis has claimed two more banks.

The Office of the Comptroller of the Currency announced late Friday that it had closed First National Bank of Nevada and First Heritage Bank of Newport Beach, Calif., both of which are units of the First National Bank Holding Company, based in Scottsdale, Ariz.

The Federal Deposit Insurance Corporation saved depositors of the two institutions from incurring losses by selling all of the banks' deposits and some of their assets to Mutual of Omaha Bank, of Omaha, Neb. All 28 branches of the two banks are scheduled to reopen Monday under the Mutual of Omaha name, and depositors will have ATM access over the weekend. Some of First National's branches operated under the name First National Bank of Arizona. ...