Sunwest Bank, Irvine, California, Assumes All of the Deposits of Syringa Bank, Boise Idaho — 2014-01-31

Syringa Bank, Boise Idaho, was closed today by the Idaho Department of Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Sunwest Bank, Irvine, California, to assume all of the deposits of Syringa Bank. The six former branches of Syringa Bank will reopen as branches of Sunwest Bank during their normal business hours. Depositors of Syringa Bank will automatically become depositors of Sunwest Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Syringa Bank should continue to use their current branch until they receive notice from Sunwest Bank that systems conversions have been completed to allow full-service banking at all branches of Sunwest Bank.