State takes over Carson River Community Bank

The state took over Carson River Community Bank today and appointed the Federal Deposit Insurance Corporation as receiver.

As of February 2010, Carson River Community Bank had total assets of approximately $52 million and total deposits of approximately $50 million. Carson River Community Bank had a branch located at 951 Jacks Valley Road, Carson City, Nevada 89705.

"We want Nevadans to know that their deposits are safe," said FID Commissioner George E. Burns. "Deposits are now insured by the FDIC for up to $250,000 per depositor, per type of account ownership. All deposits of Carson River Bank will be assumed by Heritage Bank of Nevada."

Customers of Carson River Community Bank may phone the FDIC at 1-800-823-5017 for additional information about their deposits and the receivership of the bank.

"Due to inadequate capital and mounting loan losses, it was necessary to close Carson River Community Bank and appoint the FDIC as receiver," said Burns. "We are committed to making sure Nevada's banking system continues to be fundamentally safe and sound."

Carson River Community Bank customers will continue to have access to banking services over the weekend, and normal business hours and access to banking services will continue on Monday, as a branch of Heritage Bank of Nevada.

Over the weekend, Carson River Bank's depositors can access their deposits by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

Customers may phone the Financial Institutions Division at (702) 486-4120 for additional information regarding Carson River Community Bank.

"We will continue to work closely with the FDIC and Heritage Bank to manage this situation as smoothly as possible," said Commissioner Burns. "Especially with the economic instability we are experiencing today, our goal is always to protect depositors while minimizing the disruption to business and preserving jobs as much as possible."

For more information about the Financial Institutions Division, visit http://fid.state.nv.us/.