No angry lines of customers after bank takeover
July 26, 2008 21:26 EDT

PHOENIX (AP) -- Customers of two western banks closed by federal regulators have been reacting calmly. They've been assured that every penny of their money is protected.

The calm response by customers of 1st National Bank of Nevada and First Heritage Bank N.A. is a stark contrast to the hundreds of angry customers in Southern California after IndyMac Bank's assets were seized.

But in Friday's takeovers, there was a difference. Mutual of Omaha Bank bought all of the two banks' deposits, even those over the amount protected by FDIC insurance limits. IndyMac customers had to take a loss on whatever amount they had in the bank above the insurance limits.

One 1st National Bank of Nevada in downtown Phoenix didn't even have a note outside to tell customers about the trouble. But there were no customers outside to tell.

An FDIC spokesman says he feels "like the Maytag repairman" -- there's "just not much to do on the customer side of things."