Depositors of Closed Bank Face Long Lines : Finances: First Interstate’s 12 Valley branches cope with throngs of customers from Independence.

Since the federal government declared Encino-based Independence Bank insolvent last week, the 12 San Fernando Valley branches of First Interstate Bank have been trying to cope with throngs of people waiting anxiously for access to their money.

The rain reduced the numbers sharply Thursday, but on most days, up to 200 people at a time have appeared at the branches of First Interstate, designated by the Federal Deposit Insurance Corp. to look after the accounts and interests of 30,000 Independence Bank depositors.

The long lines have generated camaraderie and impatience, and when the unsettled Independence customers reach the teller’s window, they sometimes find a familiar face--an Independence Bank employee hired to help First Interstate with the crush.

Former Independence Bank employees were hired for 30 days, said Richard Burns, vice president of the Woodland Hills branch of First Interstate Bank. They are on the FDIC payroll.

Pedro Belmonte, who had worked at an Independence Bank branch in Northridge, found out at 4:15 last Thursday afternoon that federal regulators had put him out of a job.

Since he began working at First Interstate’s Northridge branch the next day, Belmonte said, he has seen quite a few old customers.

“One customer wanted to leave Independence Bank a few months ago and I talked him into staying. I saw him here yesterday and he said ‘thanks to you I’ve waited in line for six hours,’ ” Belmonte said. The customer was laughing when he said it, Belmonte said.

Bank personnel are working hard to calm customers’ fears, Burns said.

“People are frightened to be told their bank has closed and think they may lose their life savings,” he said. The bank was covered, however, by FDIC insurance, which covers each individual account for up to $100,000, said John Holly, the FDIC liquidator in charge.

The FDIC selected First Interstate Bank to handle Independence Bank transactions because their branches mirrored each other, Holly said.

Independence Bank customers waiting hours in line have become “somewhat of a family,” Northridge Branch Manager Marti Ortiz said.

After three hours of waiting to transfer his accounts to First Interstate, Wayne Hazelhurst, owner of An American RV Store in Northridge, went to Chi-Chi’s Pizzeria next door and ordered $200 in pizzas for other bank customers last Friday.

“It took the edge off things,” said Hazelhurst, who had six personal and business accounts at Independence Bank.

“People lightened up. Before that, they were on the point of getting disgusted. But the Interstate people busted their fannies trying to help people.”

Not all customers are so cheerful.

Mike Walker of Northridge said he entered First Interstate’s Northridge branch at 11 a.m. on Monday, took a number and went home because he was told the wait would be a few hours. When he returned at 4 p.m. he waited for another hour and then was asked to return the next day.

“It was a hassle because I have a business and had to take off to come here for two days,” said Walker, owner of a Northridge sheet metal shop.

The lines are long because clerks are kept busy trying to reassure customers who sometimes have many questions, Ortiz said.

“We had less than 24 hours to get ready for this,” said Burns.

First Interstate managers learned of their new responsibilities last Thursday, shortly after regulators closed Independence Bank--which was earlier revealed to have been secretly controlled by the scandal-ridden Bank of Credit and Commerce International--as insolvent due to loans on real estate of declining value.