Two Banks Fail In Minnesota and Georgia – FDIC Losses Hit $1 Billion

Regulators closed two banks in Minnesota and Georgia, bringing the total number of banking failures for the year to eleven.  A total of four bank failures have now occurred in Minnesota and Georgia.  During all of 2011 a total of only two banks failed in Minnesota.  Georgia had a total of 23 bank failures during […]

Home Savings of America Collapses, FDIC Unable To Sell Bank – How Much Will Depositors Lose?

Home Savings of America, which was established during the depths of the Great Depression, was closed by regulators today.  The Bank was established on September 1, 1934 and operated as a federally chartered stock savings and loan association, headquartered in Little Falls, Minnesota. According to Home Savings of America’s website, the Bank’s niche was serving […]