Bank Failure
Irwin Union Bank and Trust Company
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Closed September 18, 2009 · Columbus, IN · FDIC Cert #10100.
- Closing date
- September 18, 2009
- Headquarters
- Columbus, IN
- FDIC Certificate
- 10100
- Total assets at closing
- $2.84B
- Total deposits at closing
- $2.25B
- Estimated loss to the insurance fund
- $756.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Financial Bank, N.A.
Context
On September 18, 2009, regulators closed Irwin Union Bank and Trust Company, headquartered in Columbus, IN. At closing, the institution held approximately $2.84B in assets and $2.25B in deposits. The FDIC record names First Financial Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $756.0M.
By assets at closing this is the 81st largest of the 3,526 bank failures in the FDIC record, and the 13th of 140 in 2009. 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 Irwin Union Bank and Trust Company fail?
Irwin Union Bank and Trust Company was closed by regulators on September 18, 2009.
Who acquired Irwin Union Bank and Trust Company?
The FDIC record names First Financial Bank, N.A. as the acquiring institution in the resolution of Irwin Union Bank and Trust Company.
How big was Irwin Union Bank and Trust Company when it failed?
Irwin Union Bank and Trust Company had approximately $2.84B in total assets and $2.25B in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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