Silver State Bank was an American commercial bank based in Nevada that failed in 2008. The bank had 17 branches in the Las Vegas and Phoenix metropolitan areas and loan operations across the western United States. The bank's assets were acquired by Zions Bancorporation, a bank holding corporation with $2 billion in assets.
History
Silver State Bank was a community bank founded in 1996 operating in the Las Vegas metropolitan area.[1] On September 5, 2006, Silver State Bancorp, the bank's holding company, acquired Choice Bank in the Phoenix/Scottsdale region of Arizona, and merged operations in 2008.[2]
Failure
On September 5, 2008, the bank was closed by the Nevada Financial Institutions Division and placed under Federal Deposit Insurance Corporation (FDIC) receivership.[3]