Silver State Bank reopens as National Bank of Arizona

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PHOENIX - Four branches of the failed Silver State Bank will reopen in the Valley Monday, doing business under a new names and new owners.

New name, new owners

The FDIC took over the Nevada-based bank on Friday.

Silver State lost millions of dollars as the result off bad commercials real estate and development loans.

Here in the Valley, the Silver State branches will reopen as National Bank of Arizona.

Customers will continue to have full access to their deposits with all regular deposit accounts insured up to $100,000.

The 500 accounts in excess of $100,000 that are not covered might be reimbursed when the bank's assets are sold. Those account holders are encouraged to contact the FDIC.

Silver State is the eleventh bank to fail so far this year.

Branch locations:

Scottsdale Airpark Branch 15190 N. Hayden Rd. Scottsdale, AZ 85260 Phone: 480-596-9100 Fax: 480-889-1950

Sun City West Branch 13739 W. Camino Del Sol Sun City West, AZ 85375 Phone: 480-348-3345 Fax: 623-889-7064

Chandler Branch 980 E. Pecos Rd. Ste 1 Chandler, AZ 85225 Phone: 480-348-3380 Fax: 480-782-1201

Tolleson Branch 9897 W. McDowell Rd Suite C350 Tolleson, AZ 85353 Phone: 480-348-3320 Fax: 623-936-8332