Company Profile
OneWest Bank N.A.
Company Overview
OneWest Bank is Southern California's hometown bank, focused on delivering personalized, relationship-based banking to its customers. The bank has 75 retail branches conveniently located throughout Southern California to serve consumers and businesses, small and large. With total assets of over $24 billion and over $4 billion in equity capital, OneWest has the size and strength to offer a wide array of banking products and services and the stability to protect its depositors. IndyMac Mortgage Services, a division of OneWest Bank, services mortgage loans on behalf of third parties and offers loan modifications pursuant to Home Affordable Modification Program (“HAMP”) guidelines. OneWest is an FDIC-insured institution and funds deposited in the bank are insured up to the FDIC’s insurance limit of $250,000 per depositor.
Company History
OneWest Bank began operations as a newly formed Pasadena, California-based federal savings bank on March 19, 2009 with its acquisition of certain assets and certain limited liabilities of IndyMac Federal Bank, FSB from the FDIC. The newly-formed bank opened its doors with 33 branches and approximately $16 billion of assets.
Since its formation, OneWest Bank has grown through acquisitions from the FDIC of certain assets, loans, and deposits of other California-based financial institutions. On December 18, 2009, OneWest completed the acquisition of the banking operations of First Federal Bank of California, including $6 billion in assets and $5 billion in deposits. On February 19, 2010, OneWest acquired all of the deposits and certain assets of La Jolla Bank, FSB, including $4 billion in assets and $3 billion in deposits.
As of December 2012, OneWest Bank has been recognized as the 43rd largest among US banks and thrifts by SNL Financial. While growing in size and strength, OneWest Bank continues to focus on its commitment as a regional bank dedicated to personalized, relationship-based customer service, One Person at a Time.©