FDIC Information for IndyMac Bank, F.S.B., Pasadena, CA

208963 Resource 199230 199384 199384 1215874824727 1216669098656 Controlled IndyMac Seized

Failure due to long-standing practices

On <date year="2008" day="11" month="7" />July 11, 2008</date />, IndyMac Bank, F.S.B., <place /><city />Pasadena</city />, <state />CA</state /></place /> was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) was named Conservator.  All non-brokered insured deposit accounts and substantially all of the assets of IndyMac Bank, F.S.B. have been transferred to IndyMac Federal Bank, F.S.B. (IndyMac Federal Bank), Pasadena, CA ("assuming institution") a newly chartered full-service FDIC-insured institution.  No advance notice is given to the public when a financial institution is closed.If you are a customer of IndyMac Bank and have questions <a href="http://www.fdic.gov/bank/individual/failed/IndyMac.html">Click Here</a> for the Federal Deposit Insurance Corporation (FDIC) information page.The company was started in 1985 by Countrywide founders <a onmouseover="function anonymous() { function anonymous() { return escape( popwSearchNews( this )) } }" href="http://search.bloomberg.com/search?q=Angelo%0AMozilo&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Angelo Mozilo</a> and <a onmouseover="function anonymous() { function anonymous() { return escape( popwSearchNews( this )) } }" href="http://search.bloomberg.com/search?q=David+Loeb&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">David Loeb</a> under the name Countrywide Mortgage Investments. In 1999, it converted into a bank from a real estate investment trust. That year, <a onmouseover="function anonymous() { function anonymous() { return escape( popwSearchNews( this )) } }" href="http://search.bloomberg.com/search?q=Michael+Perry&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1">Michael Perry</a> replaced Mozilo as chief executive officer. For the Reuters story <a title="IndyMac Seized" href="http://www.reuters.com/article/newsOne/idUSWA000014120080712" target="_blank">Click Here</a>For the Associated Press story <a title="Government Shuts Down IndyMac" href="http://news.yahoo.com/s/ap/20080712/ap_on_bi_ge/indymac" target="_blank">Click Here</a>"Great Homes @ Great Prices with Expert Guidance Along the Way" TMDon't Miss the Bus! TM© RepoHomeTourChicago.com - All Rights ReservedTrademark & Patent Pending 9 application/xml false angelo mozilo countrywide credit crunch failed bank fdic indymac housing crisis indymac indymac bank indymac seized indymac shut down FDIC Information for IndyMac Bank, F.S.B., Pasadena, CA Failed Bank Information http://www.fdic.gov/bank/individual/failed/IndyMac.html Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 5.1; .NET CLR 2.0.50727; .NET CLR 1.1.4322) 127.0.0.1 127.0.0.1 wdiehl 72.244.156.49 false true false false true 199303 false false true false false false true 199230 blog blogsite/RepoHomeTourChicago/web