IndyMac Sale Closes

NEW YORK (Reuters) – OneWest Bank Group LLC, a thrift holding company, on Thursday announced OneWest Bank’s completion of the acquisition of the banking operations of IndyMac Federal Bank from the Federal Deposit Insurance Corporation.

A federal savings bank with total assets of $16 billion and $1.55 billion in common equity, OneWest will operate as a regional retail bank focusing on deposits and confirming and jumbo mortgage lending in Southern California.

OneWest Bank Group LLC, the bank’s owner, is a privately-held thrift holding company whose investors include Steven Mnuchin, entities advised by J.C. Flowers & Co LLC; Paulson & Co; MSD Capital, LP; Stone Point Capital LLC; SSP Offshore LLC and SILAR MCF-I LLC. (Reporting by Helen Chernikoff; Editing by Lincoln Feast)