P. M. BRIEFING : U.S. Takes Over 2 Savings Banks
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WASHINGTON — The Office of Thrift Supervision said today that it has placed Hometown Federal Savings Bank, of Delphi, Ind., and Home Federal Savings Bank, of Worcester, Mass., under government control.
Neither action will interrupt services at the thrifts.
The Indiana thrift, found to be tangibly insolvent, had assets of about $68.6 million and $57.7 million in deposit accounts.
The Massachusetts institution reported assets of about $235.5 million with $240.8 million in deposit accounts.
The Resolution Trust Corp. was appointed receiver for both institutions. New federal mutual savings associations will take the place of the troubled thrifts.
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