Data / Bank failures / 2008 / IndyMac Bank F.S.B
IndyMac Bank F.S.B, Pasadena, CA: failed July 11, 2008
IndyMac Bank F.S.B in Pasadena, California, failed on July 11, 2008. OneWest Bank, FSB of Pasadena, CA, took over its deposits. It held $30.70 billion in assets and $18.94 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $11.98 billion (39% of its assets). By assets it was the 4th largest of 30 banks closed or assisted in 2008.
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The FDIC's record
- Closed
- July 11, 2008
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- OneWest Bank, FSB, Pasadena, CA
- Total assets
- $30,698,512,000
- Total deposits
- $18,941,727,000
- Estimated cost to the FDIC
- $11,979,120,801 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- DIF
- FDIC certificate
- 29730
Other bank failures in California, 2006 to 2010
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Western Commercial Bank | Woodland Hills | November 5, 2010 | $98.6 million | $101.1 million | $16.9 million | First California Bank |
| First Vietnamese American Bank | Westminster | November 5, 2010 | $48 million | $47 million | $14.3 million | Grandpoint Bank |
| Butte Community Bank | Chico | August 20, 2010 | $498.8 million | $471.3 million | $1.7 million | Rabobank, National Association |
| Los Padres Bank | Solvang | August 20, 2010 | $866.5 million | $770.9 million | $3.4 million | Pacific Western Bank |
| Sonoma Valley Bank | Sonoma | August 20, 2010 | $337.1 million | $255.5 million | $10.3 million | Westamerica Bank |
| Pacific State Bank | Stockton | August 20, 2010 | $312.1 million | $278.8 million | $34 million | Rabobank, National Association |
| Granite Community Bank, National Association | Granite Bay | May 28, 2010 | $102.9 million | $94.3 million | $13.2 million | Tri Counties Bank |
| 1ST Pacific Bank of California | San Diego | May 7, 2010 | $335.8 million | $291.2 million | $6.3 million | City National Bank |
Other failed banks OneWest Bank, FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| La Jolla Bank, FSB | La Jolla | CA | February 19, 2010 | $3.65 billion | $2.80 billion | $560.1 million | OneWest Bank, FSB |
| First Federal Bank of California, A Federal Savings Bank | Santa Monica | CA | December 18, 2009 | $6.14 billion | $4.54 billion | OneWest Bank, FSB |
All bank failures in 2008 · All bank failures in California · Every failed bank OneWest Bank, FSB took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.