Guaranty Bank (Texas)
Defunct bank that operated in Texas and California / From Wikipedia, the free encyclopedia
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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]
Quick Facts Predecessor, Founded ...
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) |
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