What states were subsidiaries of Irwin Union Bank closed down in?
The Federal Deposit Insurance Corp. said that Irwin Union Bank and Trust Co. in Columbus, Ind., and Irwin Union Bank F.S.B. in Louisville, Ky., were each closed. Irwin Union Bank and Trust Co. had $2.7 billion in assets and $2.1 billion in deposits as of Aug. 31, the FDIC said. Irwin Union Bank F.S.B. had $493 million in assets and $441 million in deposits as of Aug. 31. Hamilton, Ohio-based First Financial Bank /quotes/comstock/15*!ffbc/quotes/nls/ffbc (FFBC 9.32, +1.01, +12.15%) has agreed to assume the failed banks’ deposits. First Financial Bank said in a statement that assumption of the Irwin Union Bank subsidiaries brings with it 27 banking centers in nine states. Sources: http://www.marketwatch.
Irwin Union Bank Irwin Union Bank is a wholly owned subsidiary of Irwin Financial Corporation (NYSE: IFC) which is headquartered in Columbus, Indiana. Irwin Union Bank was founded in 1871 and today operates locally-managed banks in nine Midwest and Western states including Arizona, California, Indiana, Kentucky, Michigan, Missouri, Nevada, New Mexico and Utah. The Bank, led by a fifth generation member of the Irwin family, specializes in providing a broad array of highly personalized financial solutions tailored to the specific needs of owner-operated businesses, entrepreneurs, professionals and retail clients. For more information, please visit our Web site at www.IrwinUnion.com. see less Sources: http://www.linkedin.
Regulators closed subsidiaries of Irwin Financial Corporation in Kentucky and Indiana Friday, bringing the total number of bank failures this year to 94, according to the Federal Deposit Insurance Corp. Customers of the bank, however, are protected. The FDIC, which has insured bank deposits since the Great Depression, currently covers customer accounts up to $250,000. Irwin Union Bank and Trust Company and Irwin Union Bank, F.S.B. operated a combined 27 branches in nine U.S. states. Both banks were run by Columbus, Ind.-based Irwin Financial Corp. First Financial Bank, NA, which is based in Hamilton, Ohio, will assume all of the deposits of the two banks Sources: http://money.cnn.com/2009/09/18/news/economy/bank_failures/?
