Guaranty Bank was a major bank based in Austin, which collapsed in 2009.[2] It was formed in 1988 as part of Temple-Inland and in 2007 became a standalone company. At the time of its collapse, Guaranty was the second largest bank in Texas, with 162 branches across Texas and California,[3] and had $13 billion in assets and held $12 billion in deposits.[2] Major shareholders included billionaire investor Carl Icahn and hotel tycoon Robert Rowling, who jointly invested $600 million in the bank in 2008.[4]
History
Guaranty Bank's origins date to 1938, when a charter was issued to the Guaranty Building and Loan in Galveston, Texas which operated as the Guaranty Federal Savings and Loan Association. In 1988, Temple-Inland formed Guaranty by acquiring three financial institutions: Guaranty Federal Savings and Loan Association, Delta Savings Association and First Federal Savings and Loan.