According to CoinMeta, U.S. regulators have closed a bank in California, which is the sixth bank to fail in 2026. The Federal Deposit Insurance Corporation (FDIC) stated that the California Department of Financial Protection and Innovation closed the bank on Friday and appointed FDIC as the receiver. Per California's order, the available capital of the bank decreased to about $5.6 million after the capital order on March 6, 2026, which is below the statutory minimum of 3%. FDIC signed a purchase and assumption agreement with a bank in Utah, Sunwest Bank; the latter will take over nearly all deposits and acquire some assets. The only branch of Nano Banc will re-open on September 28, 2026, and depositors will automatically become depositors of Sunwest Bank. FDIC indicated that customers will continue to be able to access their deposits through checks, ATM, and debit cards, and loan customers should continue to make repayments on time. This failure is expected to result in a loss of about $114 million for the Deposit Insurance Fund.