Bank Failure
Indymac Bank F.S.B
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Closed July 11, 2008 · Pasadena, CA · FDIC Cert #29730.
- Closing date
- July 11, 2008
- Headquarters
- Pasadena, CA
- FDIC Certificate
- 29730
- Total assets at closing
- $30.70B
- Total deposits at closing
- $18.94B
- Estimated loss to the insurance fund
- $11.98B
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Onewest Bank, FSB
Context
On July 11, 2008, regulators closed Indymac Bank F.S.B, headquartered in Pasadena, CA. At closing, the institution held approximately $30.70B in assets and $18.94B in deposits. The FDIC operated the bank in conservatorship as IndyMac Federal Bank, FSB, from July 11, 2008. OneWest Bank, FSB, bought it from the FDIC on March 19, 2009. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $11.98B.
By assets at closing this is the 5th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 25 in 2008. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Indymac Bank F.S.B fail?
Indymac Bank F.S.B was closed by regulators on July 11, 2008.
Who acquired Indymac Bank F.S.B?
The FDIC operated the bank in conservatorship as IndyMac Federal Bank, FSB, from July 11, 2008. OneWest Bank, FSB, bought it from the FDIC on March 19, 2009.
How big was Indymac Bank F.S.B when it failed?
Indymac Bank F.S.B had approximately $30.70B in total assets and $18.94B in deposits at the time of failure.
Other failures in 2008
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Haven Trust Bank | $559.6M |
| Dec 12, 2008 | Sanderson State Bank | $38.2M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 21, 2008 | The Community Bank | $634.9M |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
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