Two more banks were taken over by the government. The latest to fall into line after IndyMac, are the First National Bank of Nevada and First Heritage Bank NA of California. First Nat. was declared to be undercapitalized with assets of $3.4 billion and $3 billion in deposits. First Heritage was critically or severally undercapitalized with assets of $254 million and $233 million in deposits.

The two banks have since been sold to the Mutual of Omaha Bank. Bill Uffelman, from the Nevada Bankers Association, commented on these latest developments, saying it, “is a reflection of the times for the banks. It’s a poor economy.” He also remarked that consumers should not be quick to run to withdraw their bank funds, as all FDIC insured bank deposits are guaranteed up to $100K.

The FDIC reported on the transaction costs, saying that its insurance fund is around $862 million, and that the two closed banks, total 0.3% of almost $13.4 trillion in total industry assets, spread out over 8,500 institutions insured by the FDIC.

Nevada´s governor, Jim Gibbons, said that the bank takeover will be closely watched, “to ensure there’s minimal disruption to business and that employees’ jobs are protected as much as possible.” 28 offices from the banks will be reopened on Monday, redesigned as part of the Omaha Bank.