[thorn]

“It doesn’t happen very often, but this week one of the two banks closed by the FDIC failed to find a buyer. Such failures have been rare events to date as the regulator resolves troubled institutions. The preferred strategy is to sell the failing bank to a stronger acquiring institution, close it at the end of the day on Friday and re-open the bank as part of the new owner on Monday. For unlucky FDIC Certificate Holder 29178 Home Savings of America on 35 East Broadway in Little Falls, Minnesota, that scenario was not to be. The $440M asset bank tumbled on capital adequacy in September 2011. A forensic report by IRA on the bank can be seen here:”

https://us1.irabankratings.com/pub/failedbank.asp?cert=29178

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