Bank Failure
Home Federal Savings Bank
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Closed November 6, 2009 · Detroit, MI · FDIC Cert #30329.
- Closing date
- November 6, 2009
- Headquarters
- Detroit, MI
- FDIC Certificate
- 30329
- Total assets at closing
- $13.0M
- Total deposits at closing
- $12.7M
- Estimated loss to the insurance fund
- $8.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Liberty Bank and Trust Company
Context
On November 6, 2009, regulators closed Home Federal Savings Bank, headquartered in Detroit, MI. At closing, the institution held approximately $13.0M in assets and $12.7M in deposits. The FDIC record names Liberty Bank and Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $8.6M.
By assets at closing this is the 2634th largest of the 3,526 bank failures in the FDIC record, and the 139th of 140 in 2009. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Home Federal Savings Bank fail?
Home Federal Savings Bank was closed by regulators on November 6, 2009.
Who acquired Home Federal Savings Bank?
The FDIC record names Liberty Bank and Trust Company as the acquiring institution in the resolution of Home Federal Savings Bank.
How big was Home Federal Savings Bank when it failed?
Home Federal Savings Bank had approximately $13.0M in total assets and $12.7M in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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