IndyMac Bancorp Inc. appeared to edge closer to a meltdown Friday as its stock fell to 75 cents a share amid concerns that a collapse could leave the Pasadena-based bank's borrowers and depositors in the lurch.

Sen. Charles Schumer, D-N.Y., says federal regulators may not be ready to protect them and that a wave of IndyMac depositors withdrawing their funds could leave the bank "in a disastrous financial situation."

IndyMac ranks among the 30 largest companies in terms of total annual revenue in the San Gabriel Valley, according to research conducted by this newspaper. In 2007, it employed 10,000 workers and had revenue of $2.8 billion.

A financial collapse could leave scores of employees without jobs. At one point IndyMac employed about 3,000 workers in Pasadena, but that number has shifted several times as the bank has sought to "right-size" its operations.

IndyMac officials could not be reached for comment late Friday.

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