The bank spearheaded Lehman's mortgage loan business while continuing to offer retail deposit accounts.

[4] After the 2008 failure of its parent company the bank continued to operate, but its capital position deteriorated rapidly due to depositor withdrawals.

The Office of Thrift Supervision imposed special restrictions on its business and the Lehman bankruptcy estate invested hundreds of millions of dollars to prevent its failure.

The following year it relinquished its banking charter and relocated to Littleton, Colorado.

The company remained a party in litigation relating to its loan origination practices under Lehman Brothers, and in 2018 it paid a $41 million civil penalty to the federal government to settle claims that it had misrepresented the quality of its loans.