Silver State Bancorp estate administered, $24.12 million distributed

By Caroline Salls

Pittsburgh, April 9 - Silver State Bancorp's Chapter 7 trustee asked to be discharged, saying that the company's estate "has been fully administered," according to an April 8 filing with the U.S. Bankruptcy Court for the District of Nevada.

Trustee James F. Lisowski Sr. said $24.12 million was distributed to claimants, $40.7 million of assets were abandoned and $29.45 million of claims were discharged without payment.

The total expenses of administration were $604,431.

Claims were paid using $24.72 million in liquidation proceeds. The trustee said a total of $49.22 million in claims were allowed.

Silver State Bancorp, a Henderson, Nev., holding company for Silver State Bank, filed for bankruptcy on Jan. 6, 2009. The Chapter 7 case number is 09-10069.

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