Integra Bank facts for kids
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Trade name
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Integra Bank, N.A. |
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| Public | |
| Traded as | NASDAQ: IBNK |
| Industry | Banking |
| Fate | Insolvency |
| Successor | Old National Bank |
| Defunct | July 29, 2011 |
| Headquarters | Evansville, Indiana |
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Area served
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Indiana, Illinois, Kentucky, and Ohio |
| Products | Financial Services |
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National City Bank
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Front of the bank
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| Location | 227 Main St., Evansville, Indiana |
|---|---|
| Area | Less than 1 acre (0.40 ha) |
| Built | 1913 |
| Architect | Mundie & Jennie |
| Architectural style | Second Renaissance Revival |
| MPS | Downtown Evansville MRA |
| NRHP reference No. | 82000112 |
| Added to NRHP | July 1, 1982 |
Integra Bank Corporation was a company that owned Integra Bank, a bank based in Evansville, Indiana. This bank stopped operating on July 29, 2011. In early 2010, Integra Bank had about $2.9 billion in total assets. It ran 67 banking centers and 116 ATMs across Illinois, Indiana, Kentucky, and Ohio. The main building, built in 1913, was designed in a style called Second Renaissance Revival. It was first home to the National City Bank.
Contents
What Happened to Integra Bank?
Bank Closure and Transfer
Integra Bank National Association was officially closed on Friday, July 29, 2011. This decision was made by the Comptroller of the Currency. After the closure, the Federal Deposit Insurance Corporation (FDIC) took over. The FDIC is a U.S. government agency that protects bank deposits. Most of Integra Bank's customer accounts were then moved to Old National Bank. After this, the company officially filed for bankruptcy.
Why the Bank Failed
A review by the Department of the Treasury looked into why the bank failed. They found that a big reason was the bank's choice to give out many business loans in large cities. These cities included places like Chicago and Cincinnati. During a tough economic time known as the Great Recession, Integra Bank tried to fix its problems. It sold many of its properties and also received over $83 million in special government money. This money was part of the Troubled Asset Relief Program (TARP). Even with these efforts, the bank lost $124 million in its last full year of business. It still owed the U.S. government about $81.6 million.
Services Offered by Integra Bank
Integra Bank offered many different services to its customers. These services included:
- Loans for businesses, individuals, and homes.
- Lines of credit, which let people borrow money as needed.
- Checking and savings accounts.
- Credit cards.
- Services for managing money for businesses.
- Services for other banks.
- Help with mortgages.
- Selling products like annuities and some types of insurance.
- Safe deposit boxes for storing important items.
- Trust services for managing money and property for people and companies.
Integra Bank's Name and History
Integra Bank is not connected to another bank called Integra Bank (Pittsburgh) from Pittsburgh, Pennsylvania. That bank was bought by National City in 1995. It's interesting because Integra Bank in Indiana was also once known as National City. They changed their name to Integra Bank in 2000. This change likely happened because the much larger National City bank was growing. The two banks started to have overlapping areas where they operated. Even though PNC Financial Services bought the bigger National City bank in late 2008, Integra Bank kept its new name.
Images for kids
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Front of the bank
