The Office of the Comptroller of the Currency has seized First National Bank of Nevada, Reno, and First Heritage Bank NA, Newport Beach, Calif., both formerly owned by First National Bank Holding Co., Scottsdale, Ariz. On June 30, First National Bank of Arizona -- the nation's 39th-largest wholesaler and 65th-largest mortgage lender overall in 2006, according to the latest edition of the Mortgage Industry Directory -- was merged into First National Bank of Nevada. The branches and deposits were acquired by Mutual of Omaha Bank, Omaha, Neb. Mutual of Omaha purchased $200 million in assets from the receiverships at a 4.41% premium, but it said most of the First National loan portfolio will be retained by the Federal Deposit Insurance Corp.
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