NAMPA, Idaho, (CRWENEWSWIRE)(Nasdaq:HOME) — Home Federal Bancorp, Inc. (the “Company”), announced recently that its subsidiary, Home Federal Bank (the “Bank”), has acquired the banking operations of LibertyBank of Eugene, Oregon, in a transaction facilitated by the Federal Deposit Insurance Corporation (the “FDIC”). This is the second FDIC-assisted transaction for Home Federal Bank following its August 7, 2009, acquisition of the banking operations of Community First Bank of Prineville, Oregon.

Based on preliminary financial information, the acquisition by Home Federal Bank includes approximately $387 million of assets, including $94 million of cash and securities and $264 million of loans. Deposits assumed in the acquisition total approximately $689 million, which includes all insured and uninsured deposits. Other real estate owned acquired in the transaction totaled approximately $21 million. The transaction also includes the purchase of other assets and liabilities. The Bank anticipates an additional cash settlement of approximately $300 million due to the assumption of net liabilities by Home Federal Bank. All balances above are subject to final closing and pro forma adjustments to the balance sheet accounts of LibertyBank as of July 30, 2010, and are subject to change.

Home Federal Bank acquired the assets of LibertyBank at a discount of $29.9 million and the deposit liabilities at a deposit premium of 1.0%. The purchased loans, excluding consumer and deposit secured loans, and real estate owned are covered by a loss share agreement between the FDIC and Home Federal Bank. Under the loss share agreement, the FDIC has agreed to cover 80% of the losses on the disposition of the loans and real estate owned. The Bank also acquired the operations of Commercial Equipment Lease Corporation, a commercial leasing subsidiary of LibertyBank. The leases of the subsidiary are included as covered assets under the loss share agreement.

In addition to deepening its presence in Central Oregon, Home Federal Bank will now operate in Lane, Josephine, Jackson, and Multnomah counties in Oregon, including the communities of Eugene, Grants Pass and Medford, Oregon. The Bank will also have a branch and commercial loan production office in Portland. Banking offices previously operated by LibertyBank will reopen as branches of Home Federal Bank on Monday, August 2, 2010, according to their prior normal operating hours. Home Federal Bank has an option to purchase all or some of the banking facilities and assume any leases within 90 days from July 30, 2010. The purchase of any of the branches is not included in the discount above.

“We are excited to welcome LibertyBank customers and employees to the Home Federal Bank family,” said Len E. Williams, chief executive officer of Home Federal Bank. “We want to assure all of LibertyBank’s customers that their deposits are safe and fully accessible using their existing account numbers, checks and debit and ATM cards. These accounts will be converted into Home Federal Bank deposit accounts in an orderly manner. Home Federal Bank prides itself in having a liquid balance sheet and a strong capital position. At June 30, 2010, the Bank’s total risk-based capital ratio was 35%, which is over three times greater than the level of capital that banking regulators require for a financial institution to be well-capitalized. We offer a full range of personal and business banking products and services. We look forward to deepening relationships with all current LibertyBank customers and building new relationships with future customers of Home Federal Bank in Central and Western Oregon.”

Commenting on the strategic impact of the acquisition, Mr. Williams continued, “This acquisition is consistent with our growth strategy. We have been prudent and selective in our acquisition pursuits by focusing on the intermountain region. While this will extend our markets west of the Cascade Mountains, we are excited about the opportunity to diversify our market concentration and serve new communities.”

Customers who have questions about the transaction can visit the FDIC’s website at www.fdic.gov and on the Company’s website at www.myhomefed.com. In addition, they can visit their former LibertyBank branch should they have questions about their banking relationship.

About the Company

Home Federal Bancorp, Inc., is headquartered in Nampa, Idaho, and is the parent company of Home Federal Bank, a community bank originally organized in 1920. The Company’s common stock is traded on the NASDAQ Global Select Market under the symbol “HOME.” The Company’s stock is also included in the Russell 2000 Index. After giving effect to the acquisition, the Bank now serves approximately $1.3 billion in deposits in the Boise-Nampa metropolitan statistical area in Southwestern Idaho and the Bend, Eugene-Springfield, Grants Pass, Medford and Portland MSAs in Central and Western Oregon through 37 banking offices. Assets will total approximately $1.5 billion after the acquisition, before purchase accounting adjustments.

Contact:

Home Federal Bancorp, Inc.
Len E. Williams, President and Chief Executive Officer
Eric S. Nadeau, EVP and Chief Financial Officer
208-468-5049
208-466-4634
www.myhomefed.com

Disclaimer:
The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of Crown Equity Holdings or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company mentioned or referred to in the article.

By Mike Zaman

Friday after business regulators shut 6 banks, three in Florida, two in South Carolina, and one in Michigan.

Mounting loan defaults appear to be the ongoing problem with the small regional banks, but appear to have no effect on the Wall Street’s mega banks, those that are now too big to fail.

The failed banks were:
In South Carolina;
1. Woodlands Bank in Bluffton, S.C.
2. First National Bank of the South in Spartanburg, S.C
In Michigan;
Mainstreet Savings Bank of Hastings, Mich.,
In Florida;
1. Miami-based Metro Bank of Dade County
2. Turnberry Bank of Aventura
3. Olde Cypress Community Bank of Clewiston,

The costs to the FDIC are expected to run about $289 million. All bank assets were assumed by other banks

********************************************************************

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations.

By Hassan MohammadZaman
Mid East correspondent for crwenewswire.com

Four more banks have been shut down by Federal Deposit Insurance Corp because of losses to its insurance fund. The recent closures included USA Bank in New York, Home National Bank in Oklahoma, Ideal Federal Saving Bank and Bay National Bank in Maryland.

The total cost to the Federal Deposit Insurance Corp’s Insurance fund amounted to $160 million for closures. After these four closures, the total figure for the bank failures reach at 90 for the current year and it expected that the figure will cross 140 by the year end 2010.

Likewise according to FDIC Chairman Sheila Bair, the bank closures are going to touch their highest figure for the current year. Further the agency has also allocated almost $40 billion for the failures form March 2010 to March 2011.

The FDIC expects its losses to touch $100 billion figure from 2009 till 2013 with a projected loss from 2010 to 2014 at $60 billion.

Among the four closures last week Home National Bank was the largest with total assets of $644.5 million and $560.7 million of total deposits. Home national bank contributed by $78.7 billion in the total loss of $160 billion to FDIC’s Deposit Insurance Fund. RCB Bank Claremore from Oklahoma is going to take over all the deposits of Home National Bank.

USA Bank in Port Chester, New York stood with $193.3 million in total assets and it’s total deposits stood at $189.9 million. New Century Bank has agreed to assume all the deposit USA Bank.

Total assets stood at $6.3 million with total deposits of $5.8 million for Ideal Federal Savings Bank, Baltimore, Maryland for which FDIC has entered with purchase agreement with Federal Savings Bank.

Bay National Bank’s total assets stood at $282.2 million with total assets accumulated up to $276.1 million. Bay Bank FSB Lutherville in Maryland is to assume all the deposits of Bay National Bank.

The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

By Mike Zaman

With the number of banks on the FDIC watch list its amazing that no banks were closed this past Friday,

Banks continue to cry foul over the enactment of the Bank reform legislation, complaining that it will cost them so much money to comply that they will look for mergers or close down.

Perhaps that was the intent, to make banks even larger and more impossible to control.

The Reform which does little more than pay lip service to the financial sector, left much of the toxic trading in place, including the Credit Default Swaps which are still negatively affecting the financial markets and causing the demise of smaller insurance companies; which isn’t being reported.

The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

By Mike Zaman

Regulators on Friday shut down number 83, “Nevada Security Bank”.

The Federal Deposit Insurance Corp. took over Nevada Security Bank, based in Reno, with $480.3 million in assets and $479.8 million in deposits. Umpqua Bank, based in Roseburg, Ore., agreed to assume the assets and deposits of Nevada Security Bank.

The failure of this bank is expected to cost the deposit insurance fund $80.9 million.

In addition, the FDIC and Umpqua Bank agreed to share losses on $368.2 million of Nevada Security Bank’s loans and other assets.

With 83 closures nationwide so far this year, the pace of bank failures is more than double that of 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks’ losses mount on loans made for commercial property and development.

The number of banks on the FDIC’s confidential “problem” list jumped to 775 in the first quarter from 702 three months earlier, even as the industry as a whole had its best quarter in two years.

A majority of institutions posted profit gains in the January-March quarter. But many small and midsized banks are likely to continue to suffer distress in the coming months and years, especially from soured loans for office buildings and development projects.

The FDIC expects the cost of resolving failed banks to grow to about $100 billion over the next four years.

The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.