Integra Bank

Integra Bank Corporation

Company type	Public
Industry	Banking
Defunct	July 29, 2011 (2011-07-29)
Headquarters	Evansville , United States
Area served	Illinois, Indiana, Kentucky, Ohio
Products	Commercial and consumer loans, mortgage financing, credit lines, transaction accounts, credit cards, letters of credit, corporate cash management, correspondent banking services, mortgage servicing, annuities, insurance products, safe deposit boxes, trust administration

Integra Bank Corporation served as the holding entity for Integra Bank National Association, a retail banking institution headquartered in Evansville, Indiana, which ceased operations on July 29, 2011. By March 31, 2010, the bank managed assets totaling $2.9 billion and maintained a network of 67 branches along with 116 ATMs throughout Illinois, Indiana, Kentucky, and Ohio. Its main office was situated in a Second Renaissance Revival style building erected in 1913, initially constructed for the National City Bank.

The company’s shares were listed on NASDAQ until their removal from the exchange on May 2, 2011. On July 29, 2011, the Comptroller of the Currency ordered the closure of Integra Bank N.A., appointing the FDIC as receiver. The majority of deposit accounts were acquired by Old National Bank. Following this event, the corporation proceeded to file for bankruptcy.

An audit conducted by the Treasury Department pinpointed Integra’s high-risk commercial lending practices in metropolitan areas such as Chicago and Cincinnati as a primary cause of its collapse. Throughout the Great Recession, Integra divested multiple assets and secured over $83 million through the TARP. Despite these interventions, the bank recorded a net loss of $124 million in its last complete fiscal year and maintained an outstanding debt of $81.6 million to taxpayers.

Integra provided an extensive array of financial products and services encompassing commercial and consumer loans, mortgage financing, credit lines, transaction accounts, credit cards, letters of credit, corporate cash management solutions, correspondent banking services, mortgage servicing, annuities, select insurance offerings, safe deposit facilities, and trust administration.

This institution is distinct from the former Integra Bank located in Pittsburgh, Pennsylvania, which was acquired by National City in 1995. Originally known as National City until its rebranding in 2000—likely to avoid confusion with the larger National City brand—Integra retained its name for nine years even after PNC Financial Services purchased National City in 2008.

See also

• List of largest U.S. bank failures