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| Predecessor | Temple-Inland |
|---|---|
| Founded | 1938/1988[1] |
| Defunct | 2009 |
| Fate | Acquired by BBVA Compass in 2009 |
| Headquarters | Austin, Texas, U.S. |
Area served | Texas and California |
Key people | Kenneth R. Dubuque (1998–2008) (chairman and CEO) John T. Stuart III (2008–2009) (interim chairman and interim CEO) Kevin J. Hanigan (2008–2009) (president and COO) |
Guaranty Bank was a major bank based in Austin, which collapsed in 2009.[2] It was formed in 1988[3] as part of Temple-Inland and in 2007 became a standalone company. At the time of its collapse, Guaranty was the second largest bank in Texas, with 162 branches across Texas and California,[4] and had $13 billion in assets and held $12 billion in deposits.[2] Major shareholders included billionaire investor Carl Icahn and hotel tycoon Robert Rowling, who jointly invested $600 million in the bank in 2008.[3][5]
- ^ "Community Reinvestment Act Performance Evaluation". Office of the Comptroller of Currency; U.S. Department of Treasury. Office of Thrift Supervision. 2007-12-28. Archived from the original on 2020-06-27. Retrieved 2020-06-24.
- ^ a b "BBVA Compass, Birmingham, Alabama, Assumes All of the Deposits of Guaranty Bank, Austin, Texas" (Press release). FDIC. August 21, 2009. Retrieved 2015-01-07.
- ^ a b Cite error: The named reference
cnnwas invoked but never defined (see the help page). - ^ Gordon, Marcy (August 21, 2009). "Regulators Shut Guaranty Bank, 2nd Largest Failure". The San Diego Union-Tribune. Associated Press. Retrieved 2015-01-07.
- ^ "Guaranty Bank warns that it's on the verge of failure". Los Angeles Times. July 25, 2009. Retrieved 2015-01-07.