F.D.I.C. Takes Over Two Banks

On Friday the F.D.I.C. closed the First National Bank of Nevada and First Heritage Bank, N.A.

The banks had 28 branches between them. They will reopen on Monday, operating under the Mutual of Omaha Bank, as reported by the F.D.I.C.

Depositors, including those with funds greater than the F.D.I.C. insurance limits, would switch to Mutual of Omaha with “the full amount of their deposits.”

With this many banks failing, it's hard to have a positive outlook on the future of our economy.