[2] Major shareholders included billionaire investor Carl Icahn and hotel tycoon Robert Rowling, who jointly invested $600 million in the bank in 2008.

[6] [7][8] In November 2007, Temple-Inland announced that it planned to separate itself into three stand-alone public companies.

[10] As a thrift bank, its charter required it to keep 70% of its assets in housing-related investments, leaving it exposed to the 2008 US housing crash[3] In April 2009, the Office of Thrift Supervision ordered the bank to take a $1.5 billion writedown on the value of the mortgage-backed securities it held.

[5] The Federal Deposit Insurance Corporation assumed control of the failed bank August 21, 2009.

[2][12] Guaranty Bank was absorbed into its new parent company, with its branches being rebranded as BBVA Compass outlets.