February 25, 2012 – 1:11 pm

Home Savings of America, Little Falls, MN, is the eleventh FDIC-insured institution to fail in the nation in 2012. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $38.8 million.

The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of Home Savings of America, Little Falls, Minnesota. The bank was closed today by the Office of the Comptroller of the Currency, which appointed the FDIC as receiver.

The FDIC was unable to find another financial institution to take over the banking operations of Home Savings of America. The FDIC will mail directly to depositors of Home Savings of America, checks for the amount of their insured money.

Customers with questions about today’s transaction, including those with accounts in excess of $250,000, should call the FDIC toll-free at 1-800-523-8089. The phone number will be operational this evening until 9:00 p.m., Pacific Standard Time (PST); on Saturday from 9:00 a.m. to 6:00 p.m., PST; on Sunday from noon to 6:00 p.m., PST; on Monday from 8 a.m. to 8 p.m., PST; and thereafter from 9:00 a.m. to 5:00 p.m., PST.

If you should have any further questions please do not hesitate to visit the FDIC web page for Home Savings of America.