Irwin Union Bank

US regulators close two subsidiaries of Irwin Union Bank

Regulators closed two subsidiaries of Irwin Financial Corporation in Kentucky and Indiana, taking the toll of the federally insured failed banks to 94 this year.

The Federal Deposit Insurance Corp. was appointed receiver of the Louisville, Kentucky-based Irwin Union Bank FSB and Columbus-based Irwin Union Bank and Trust Co.

As of August 31, Irwin Union Bank FSB possessed assets worth $493 million and deposits worth $441 million, while Irwin Union Bank and Trust Co. owned assets worth $2.7 billion and deposits worth $2.1 billion.

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