Reuters is reporting today that IndyMac Bancorp Inc., the holding company for the Pasadena-based thrift and mortgage banker that was taken over by federal regulators last month, filed for Chapter 7 bankruptcy Thursday.
The filing does not affect IndyMac Federal Bank FSB, the successor bank created by the Federal Deposit Insurance Corp. after it took over the original savings and loan company July 11. The FDIC is trying to sell IndyMac’s assets.
Reuters says IndyMac Bancorp reported in its bankruptcy filing that it had $50 million to $100 million in assets, $100 million to $500 million in liabilities and fewer than 50 creditors.
IndyMac had been the seventh largest savings and loan in the country, according to a July 7 U.S. Securities and Exchange Commission filing. It was the second biggest bank failure in the country after Chicago-based Continental Illinois National Bank & Trust Co., which collapsed in May 1984.
To see the bankruptcy filing, CLICK HERE.
Related news:
- Federal Grand Jury investigating New Century, Countrywide and IndyMac
- IndyMac CFO leaves, no accounting disputes here, company says
- Court approves Fremont sale
- Regulators shut down IndyMac
- Fremont General files for bankruptcy
- FDIC approves sale of Brea bank’s assets
- Report says FBI probing possible loan fraud at IndyMac
- Sen. Schumer raises concerns over IndyMac’s solvency
- Look who’s making subprime loans now
- Former Countrywide No. 2 sees opportunities in troubled mortgages
I am SO glad they didn’t hire me last summer, although I would have probably turned it down anyway. The vibe I got was very loose and playful… reminded me of my days at Argent. Everyone seemed completely oblivous to the carnage going on in the industry.
Hey its friday and time for some bank to go under………who will it be this weekend? only time will tell.
That is some serious bankruptcy filing. Looks like things are getting crazy for you guys in the states!