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Following Bank Failure, Nevada CUs Eye Safety Webs

LAS VEGAS -- Nevada credit unions were considering plans Monday to stoke up safety soundness communication with members at branches and on Web sites following the failure last Friday of the $3 billion Silver State Bank, sold under a FDIC-arranged purchase deal with Zions Bancorp of Utah.

By Jim Rubenstein | Updated on September 08, 2008

LAS VEGAS — Nevada credit unions were considering plans Monday to stoke up safety soundness communication with members at branches and on Web sites following the failure last Friday of the $3 billion Silver State Bank, sold under a FDIC-arranged purchase deal with Zions Bancorp of Utah.

The collapse of Silver State due to faulty mortgage and construction loans, maintained 13 branches here and in Phoenix along with loan production offices in several Western states, all of which were converted to facilities of Nevada State Bank of Las Vegas or the National Bank of Arizona, both owned by Zions of Salt Lake City.

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