The site is secure. The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.

The .gov means it’s official. Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.

How Can We Help You? I am a... Bank Customer Banker Consumer Small Business Owner Analyst/Researcher/Student Legal Professional Bank Regulator Press/Media Vendor/Contractor Legislative Staff Member Jobseeker Court Clerk Prosecutor/Probation Officer Investigator Select the information you wish to explore based on who you are I want to... Get Started

How Can We Help You? I am a... Bank Customer Banker Consumer Small Business Owner Analyst/Researcher/Student Legal Professional Bank Regulator Press/Media Vendor/Contractor Legislative Staff Member Jobseeker Court Clerk Prosecutor/Probation Officer Investigator Select the information you wish to explore based on who you are I want to... Get Started

The FDIC publishes regular updates on news and activities. Keep up with FDIC announcements, read speeches and testimony on the latest banking issues, learn about policy changes for banks, and get the details on upcoming conferences and events.

The FDIC is proud to be a pre-eminent source of U.S. banking industry research, including quarterly banking profiles, working papers, and state banking performance data. Browse our extensive research tools and reports.

The FDIC provides a wealth of resources for consumers, bankers, analysts, and other stakeholders. Browse our collection of financial education materials, data tools, documentation of laws and regulations, information on important initiatives, and more.

The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system. Learn about the FDIC’s mission, leadership, history, career opportunities, and more.

Failed Bank Information

Information for Silver State Bank, Henderson, NV

En Espanol

I. Introduction

On September 5, 2008, Silver State Bank, Henderson, NV was closed by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions.



Back to top

II. Press Release

The FDIC has issued a press release (PR-77-2008) about the institution's closure. If you represent a media outlet and would like information about the closure, please contact David Barr at 202-898-6992.



Back to top

III. Is My Account Fully Insured

This link will allow you to verify the insurance status of each of your accounts. This link will be available for use no later than the first business day after bank failure.

Simply enter your account number in the search screen. If you receive the message that "your account is fully insured" a link will appear that provides you with additional information. If you receive the message that you should contact the FDIC, then a link will appear that provides you contact information.

Is My Account Fully Insured?

En Español



Back to top

IV. Acquiring Financial Institution

All insured non-brokered deposit accounts have been transferred to Nevada State Bank, Las Vegas, NV ("assuming institution") and will be available immediately. Nevada State Bank entered into a separate agreement to sell the Arizona branches of Silver State Bank to its affiliate National Bank of Arizona. On Monday, the former Silver State Bank locations will reopen as branches of Nevada State Bank in Nevada and as branches of National Bank of Arizona in Arizona.

Principal and interest on insured accounts, through September 5, 2008, are fully insured by the FDIC, up to the insurance limit of $100,000. You will receive full payment for your insured account. Certain entitlements and different types of accounts can be insured for more than the $100,000 limit. IRA funds are insured separately from other types of accounts, up to a $250,000 limit.

All accounts that exceed the $100,000 insurance limit, and/or all accounts that appear to be related and exceed this limit, are reviewed by the FDIC to determine their ownership and insurance coverage. If you think you might have uninsured deposits you should call the FDIC Call Center to arrange for a telephone interview with a Claims Agent at (888) 206-4662. The Claim Agent may direct you to download and submit a particular form that will assist in expediting the processing of your claim.

List of Affidavits, Declarations, and Forms available for download

If it is determined that you have uninsured funds, the FDIC will generate and mail to you a Receiver Certificate. This certificate entitles you to share proportionately in any funds recovered through the disposal of the assets of Silver State Bank. This means that you will eventually recover some of your uninsured funds.

To find out more about FDIC Deposit Insurance:

Checks that were drawn on Silver State Bank will be honored up to your available balance or the insured amount. You may withdraw funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with your new bank. A hold may be in place on deposit accounts due to delinquent loans where the depositor is the borrower or guarantor. Additionally, any account pledged as collateral for a loan will be held. You may view more information about Nevada State Bank and National Bank of Arizona by visiting their web sites.

Nevada State Bank (www.nsbank.com) National Bank of Arizona(www.nbarizona.com)



Back to top

VI. Banking Services

The Automated Teller Machines (ATM) will remain available.

As of September 8, 2008 you may continue to use the services to which you previously had access, such as, online service, safe deposit boxes, night deposit boxes, wire services, etc.

Your checks will be processed as usual. All outstanding checks will be paid against your available insured balance(s) as if no change had occurred. Your new bank will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, please contact your branch office. An account representative will clear up any confusion about the validity of your checks.

All interest accrued through Friday September 5, 2008, will be paid at your same rate. Nevada State Bank and National Bank of Arizona will be reviewing rates and will provide further information soon. You will be notified of any changes.

Your automatic direct deposit(s) and/or automatic withdrawal(s) will be transferred automatically to your new bank. If you have any questions or special requests, you may contact a representative of your assuming institution at your branch office.



Back to top

VII. Loan Customers

If you had a loan with Silver State Bank, you should continue to make your payments as usual. The terms of your loan will not change under the terms of the loan contract because they are contractually agreed to your promissory note with the failed institution. Checks should be made payable as usual and sent to the same address until further notice. If you have further questions regarding an existing loan you may call 1-800-523-8177.

For all questions regarding new loans and the lending policies of Nevada State Bank and National Bank of Arizona, please contact your branch office.



Back to top

VIII. Possible Claims Against the Failed Institution

Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. Shortly after the failure, the FDIC sends notices directly to all known service providers to explain the claim filing process.

Please note: there are time limits for filing a claim, as specified in the notice.

If you provided a service for Silver State Bank, and have not received a notice, please contact:

FDIC as Receiver for Silver State Bank

Attention: Claims Department, DRR

1601 Bryan Street

Dallas, Texas 75201

Or:

Call toll free (888) 206-4662



Back to top

IX. Priority of Claims

In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:

Depositors General Unsecured Creditors Subordinated Debt Stockholders



Back to top

IX. Dividend Information

Dividend History on Silver State Bank JavaScript is disabled or blocked. Alternatively, you may navigate to https://closedbanks.fdic.gov/dividends/ and search for the dividends.

Dividend Information on Failed Financial Institutions



Back to top

XI. Brokered Deposits

The FDIC offers a reference guide to deposit brokers acting as agents for their investor clientele. This site outlines the FDIC's policies and procedures that must be followed by deposit brokers when filing for pass-through insurance coverage on custodial accounts deposited in a failed FDIC Insured Institution.

Deposit Broker Processing Guide



Back to top

General Disclaimer