Home Federal Savings Bank, Detroit, Michigan, was closed Friday, November 06, 2009 by the Office of Thrift Supervision, which appointed the FDIC as receiver. Liberty Bank and Trust Company, New Orleans, Louisiana will assume all of the deposits of Home Federal Savings Bank.

Home Federal Savings Bank had total assets of $14.9 million and total deposits of approximately $12.8 million, and two branch locations. Liberty Bank and Trust Company did not pay a premium to assume the deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $5.4 million. Home Federal Savings Bank is the 117th FDIC-insured bank failure in the nation this year, and the third in Michigan.

Cert #  30329

Sinclair Noe

Eat the Bankers

Bank-o-meter.com

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