OneWest Bank
OneWest Bank is a mid-sized bank headquartered in Pasadena, CA. The bank operates 75 branches in 1 state (California). OneWest Bank has deposits of $6.9 billion, and was established in March 2009.
This bank is FDIC insured - all deposits are protected for up to $250,000. Products offered by the bank include: OneWest CD, OneWest IRA CD, Super Savings, E-Money Market, Super Savings IRA and Premium Checking.
Current OneWest Bank Rates
| Name | Term | APY | Min Deposit | |
| OneWest CD | 3 months | 0.45 % | $5,000 | |
| 6 months | 0.70 % | $5,000 | ||
| 9 months | 0.75 % | $5,000 | ||
| 1 year | 0.85 % | $5,000 | ||
| 18 months | 1.01 % | $5,000 | ||
| 2 years | 1.05 % | $5,000 | ||
| 3 years | 1.15 % | $5,000 | ||
| 4 years | 1.25 % | $5,000 | ||
| 5 years | 1.55 % | $5,000 | ||
| OneWest IRA CD | 3 months | 0.45 % | $1 | |
| 6 months | 0.70 % | $1 | ||
| 9 months | 0.75 % | $1 | ||
| 1 year | 0.85 % | $1 | ||
| 18 months | 1.01 % | $1 | ||
| 2 years | 1.05 % | $1 | ||
| 3 years | 1.15 % | $1 | ||
| 4 years | 1.25 % | $1 |
About OneWest Bank
OneWest Bank, FSB is a regional bank focused on delivering personalized, relationship-based banking to its customers. The bank has 81 retail branches in Southern California with approximately $14 billion in deposits and total assets of $27 billion, including a loan portfolio, a securities portfolio, a servicing platform with mortgage servicing rights (MSRs) representing over 550,000 borrowers, and a reverse mortgage platform – Financial Freedom. OneWest is an FDIC-insured institution, and funds deposited in the bank are insured up to the FDIC’s insurance limit of $250,000 per depositor.
The FDIC completed its sale of Indymac Federal Bank to OneWest Bank Group LLC, a newly formed federal savings bank headquartered in Pasadena, CA.
33 branches of Indymac Federal have reopened as OneWest bank branches, and depositors of Indymac will automatically be a part of the new, privately-held thrift.
The regional bank said it will offer deposits, along with conforming and jumbo mortgages via its retail platform to its Southern California customers.
OneWest also acquired the profitable reverse mortgage unit Freedom Financial, along with its $21.3 billion loan portfolio, and $150 billion in forward mortgage servicing rights.
As part of a loss share agreement with the FDIC, OneWest will continue to modify mortgages in the single family residential portfolio under the original loan modification model established during the takeover.
Indymac was seized by the FDIC back in mid-July after a spectacular run on the bank’s deposits sunk the once profitable mortgage lending giant.
At the time, it was the second largest OTS-regulated thrift to fail. It was estimated that $600 million in uninsured deposits were held at the bank when it collapsed.