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Integra Bank Corporation was the parent of Integra Bank National Association, a retail bank headquartered in
Evansville, Indiana Evansville is a city in, and the county seat of, Vanderburgh County, Indiana, United States. The population was 118,414 at the 2020 census, making it the state's third-most populous city after Indianapolis and Fort Wayne, the largest city in ...
that failed on July 29, 2011. As of March 31, 2010, Integra Bank had $2.9 billion in total assets and operated 67 banking centers and 116 ATMs at locations in
Illinois Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...
,
Indiana Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th s ...
,
Kentucky Kentucky ( , ), officially the Commonwealth of Kentucky, is a state in the Southeastern region of the United States and one of the states of the Upper South. It borders Illinois, Indiana, and Ohio to the north; West Virginia and Virginia to ...
, and
Ohio Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...
. The
Second Renaissance Revival Renaissance Revival architecture (sometimes referred to as "Neo-Renaissance") is a group of 19th century architectural revival styles which were neither Greek Revival nor Gothic Revival but which instead drew inspiration from a wide range o ...
building was constructed in 1913, and originally housed the National City Bank. ''Note:'' This includes , , and Accompanying photographs The company's stock was traded on NASDAQ until it was delisted on May 2, 2011. On Friday, July 29, 2011, Integra Bank National Association (N.A.), Evansville, was closed by the Comptroller of the Currency. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named receiver. All deposit accounts, excluding certain brokered deposits, were transferred to
Old National Bank Old National Bank is an American regional bank with nearly 200 retail branches operated by Old National Bancorp and based in Chicago, Illinois and Evansville, Indiana. With assets at $23.0 billion and 162 banking centers, Old National Bancorp i ...
. The company then filed for bankruptcy. A post-mortem audit by the Department of the Treasury found that the bank's decision to actively pursue commercial loans in large cities such as Chicago and Cincinnati was a major contributor to the bank's failure. During its decline through the
Great Recession The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At ...
, Integra sold many assets and took more than $83 million in TARP funds. Despite these efforts, in its final full year of operation, Integra lost $124 million. The bank still owed US tax payers and the US government $81,635,660. The company offered a variety of banking services that included commercial, consumer and mortgage loans, lines of credit, transaction accounts, credit cards, letters of credit, corporate cash management services, correspondent banking services, mortgage servicing, annuity products and services, selected insurance products, safe deposit boxes, and personal and corporate trust services. The bank is not related to the former Integra Bank of
Pittsburgh Pittsburgh ( ) is a city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County, Pennsylvania, Allegheny County. It is the most populous city in both Allegheny County and Wester ...
,
Pennsylvania Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, ...
, that was bought out by National City in 1995. Coincidentally, Integra was itself once known as National City until adopting the current name in 2000, likely changing it due to the expanding presence of the much larger National City and the two having overlapping territories. Despite
PNC Financial Services The PNC Financial Services Group, Inc. (stylized as PNC) is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 U.S. state, states and the D ...
buying out the larger National City in late 2008, Integra Bank kept the name it has had for nine years.


See also

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List of largest U.S. bank failures This is a list of the largest U.S. bank failures with respect to total assets under management at the time of the bank failure (banks with $1.0 billion or more in assets are listed here). Assets of the banks listed here are figures provided by ...


References


External links

* {{National Register of Historic Places in Indiana Bank buildings on the National Register of Historic Places in Indiana Renaissance Revival architecture in Indiana Commercial buildings completed in 1913 Companies based in Evansville, Indiana Banks based in Indiana Defunct banks of the United States Banks with year of establishment missing Companies that have filed for Chapter 7 bankruptcy