IndyMac Bank has been shut down by the Office of Thrift Supervision and Federal Deposit Insurance Corporation.  Two operations in Atlanta will be shut down.  Additional information can be found at the FDIC Website. 

From the Atlanta Business Chronicle:

Federal regulators closed Pasadena, Calif.-based Indymac Bank late Friday — the shuttering of the largest bank nationwide since the Savings & Loan Crisis in 1991, and a move that will affect two Atlanta operations centers.

The closure also marks the second-largest closure of a bank since 1934, according to the Federal Deposit Insurance Corp.

In a unique twist, IndyMac Bank’s closure is blamed, in part, by the public disclosure of a letter by U.S. Sen. Charles Schumer (D-N.Y.), expressing concern about the bank’s ability to operate going forward.

The bank had $32 billion in assets and $19 billion in deposits, according to the Office of Thrift Supervision and FDIC.

At the time of closing, the bank had roughly $1 billion in uninsured deposits….

Indymac Bank is the largest U.S. bank failure since Jan. 6, 1991, when the Bank of New England, with $22 billion in assets, failed….

In a statement, the OTS said:

"The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York. The letter expressed concerns about IndyMac’s viability. In the following 11 business days, depositors withdrew more than $1.3 billion from their accounts."