Failed Bank List

Closed Friday, September 18, 2009 · Columbus, Bartholomew County, Indiana

Irwin Union Bank and Trust Company

No bank in Indiana had failed for 16 years, since The Rushville National Bank closed in 1992. No failed bank in Indiana was larger, of 39 on record there since 1934. Irwin Union Bank and Trust Company's estimated cost to the Deposit Insurance Fund makes it the 43rd-costliest failure on FDIC record since 1934.

On the books, 2001 to 2009

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$2B$4B$6B$8B2002200320042005200620072008Closed
Total assets peaked at $6.3 billion in the first quarter of 2006 and were 55% lower at the final report. Equity capital went from 14% of assets in the third quarter of 2001 to 5.5% at the last report. It reported a net loss in three of its final nine reporting years. The deepest annual loss, $287 million, was booked in 2008.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$320M−$320M2001: $54.0 million200111%2002: $48.1 million20029.3%2003: $108 million200312%2004: $58.6 million200412%2005: $21.2 million200510%2006: $11.4 million200611%2007: −$44.5 million200711%2008: −$287 million20086.7%2009: −$145 million2009*5.5%
* 2009: January to June only, the last report before closing.

Size against the other 2009 failures

Total assets of the 140 banks that failed in 2009, log scale$10M$100M$1B$10B$100B
Total assets of each 2009 failure, log scale; Irwin Union Bank and Trust Company in red.

By assets it ranked 13th of the 140 failures in 2009. Across the failures of 2009, the median estimated loss came to 27% of assets. In the size ranking of that year, just above it was San Diego National Bank of San Diego, California ($3.6 billion, loss 1.0% of assets); just below, Orion Bank of Naples, Florida ($2.6 billion, loss 27% of assets). Every 2009 failure in the explorer.

Closed together

The same acquirer took over one other bank that day. With Irwin Union Bank and Trust Company, the group reported $3.4 billion in assets, and the FDIC's estimated loss on all two is $870 million. They have no separate pages here.

The other banks in the same transaction
BankLocationTotal assetsEst. lossFounded
Irwin Union Bank, F.S.B.Louisville, KY$518 million$114 million2000

Failures in Indiana

The next was Integra Bank National Association of Evansville, on July 29, 2011. No other failed bank in the FDIC's records was based in Bartholomew County.

Bank failures in Indiana per year, 1980 to 2026012231984: 21985: 11986: 11987: 31988: 21989: 21990: 11991: 21992: 12009: 12011: 12012: 12026: 119801990200020102020
Per year since 1980, 2009 in red. Every Indiana failure

The acquiring bank

First Financial Bank, N.A. of Hamilton, Ohio took over three failed banks between 2000 and 2026. Apart from the banks closed together with this one, the other:

FDIC certificate 10100 · loss estimate as of July 31, 2026 · How to read this page