Home Federal Savings and Loan Association was a federal stocksavings and loan association operating in Fayetteville, North Carolina, Lumberton, North Carolina, and Spring Lake, North Carolina with consolidated assets of $155.6 million, as of July 31, 1997. The Institution was wholly owned by Green Street Financial Corporation, Fayetteville, North Carolina, a unitary nondiversified holding company. The Institution had a main office at 241 Green Street in downtown Fayetteville, one branch on Raeford Road in Fayetteville, one branch in Spring Lake, and one branch in Lumberton. Home Federal's staff consisted of 30 full-time employees and two part-time employees as of July 31, 1997.
Home Federal operated as a traditional thrift originating adjustable and fixed rate mortgages for the construction, purchase, and refinancing of single-family dwellings. In addition, Home Federal offered home equity loans. The Institution also offered share loans, as well as loans secured by unimproved lots. Home Federal did not sell loans in the secondary market, but retained them in its own portfolio.
Between January 1, 1995, and June 30, 1997, Home Federal originated 693 loans totaling $53.7 million. This represents an average loan amount of $78,000. A review of the OTS's Thrift Financial Report for Home Federal disclosed that as of June 30, 1997, residential permanent mortgages totaled $111.9 million, and nonresidential mortgages totaled $14.3 million, or 68.2 percent and 9.2 percent of total assets, respectively. As of that date, cash and investments totaled $26.5 million, or 17.1 percent of total assets.
Washington Mutual, Inc—abbreviated to WaMu—was a savings bank holding company and the former owner of WaMu Bank, which was the United States' largest savings and loan association until its collapse in 2008.
A savings and loan association (S&L), or thrift institution, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. The terms "S&L" or "thrift" are mainly used in the United States; similar institutions in the United Kingdom, Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held, meaning that the depositors and borrowers are members with voting rights, and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company, and even publicly traded, in such instances it is no longer truly a mutual association, and depositors and borrowers no longer have membership rights and managerial control. By law, thrifts can have no more than 20percent of their lending in commercial loans—their focus on mortgage and consumer loans makes them particularly vulnerable to housing downturns such as the deep one the U.S. experienced in 2007.
The savings and loan crisis of the 1980s and 1990s was the failure of 1,043 out of the 3,234 savings and loan associations (S&Ls) in the United States from 1986 to 1995. An S&L or "thrift" is a financial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members.
The Federal Home Loan Banks are 11 U.S. government-sponsored banks that provide reliable liquidity to member financial institutions to support housing finance and community investment. With their members, the FHLBanks represents the largest collective source of home mortgage and community credit in the United States.
National City Corporation was a regional bank holding company based in Cleveland, Ohio, USA, founded in 1845; it was once one of the ten largest banks in America in terms of deposits, mortgages and home equity lines of credit. Subsidiary National City Mortgage is credited for doing the first mortgage in America. The company operated through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, Florida, and Wisconsin, and also served customers in selected markets nationally. Its core businesses included commercial and retail banking, mortgage financing and servicing, consumer finance, and asset management. The bank reached out to customers primarily through mass advertising and offered comprehensive banking services online. In its last years, the company was commonly known in the media by the abbreviated NatCity, with its investment banking arm even bearing the official name NatCity Investments.
Standard Federal Bank was a Troy, Michigan-based bank serving Michigan and Northern Indiana in the United States which was acquired by Bank of America on 5 May 2008.
Great Western Bank was a large retail bank that operated primarily in the Western United States. Great Western's headquarters were in Chatsworth, California. At one time, Great Western was one of the largest savings and loan in the nation, second only to Home Savings of America. The bank was acquired by Washington Mutual in 1997 for $6.8 billion.
H.F. Ahmanson & Co. was a California holding company named after millionaire Howard F. Ahmanson Sr. It was best known as the parent of Home Savings of America, once one of the largest savings and loan associations in the United States.
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s.
Beal Bank is an American bank, which was founded by Texas-based entrepreneur D. Andrew "Andy" Beal. It includes two separately chartered banks, Beal Bank and Beal Bank USA. Each entity is insured by the Federal Deposit Insurance Corporation (FDIC).
IndyMac, a contraction of Independent National Mortgage Corporation, was an American bank based in California that failed in 2008 and was seized by the United States Federal Deposit Insurance Corporation (FDIC).
Western Savings and Loan was an American financial institution founded by the Driggs family.
The subprime mortgage crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst and the subprime mortgage crisis which developed during 2007 and 2008. It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and related banking and investment activity. It also notes details of important incidents in the United States, such as bankruptcies and takeovers, and information and statistics about relevant trends. For more information on reverberations of this crisis throughout the global financial system see Financial crisis of 2007–2008.
The New York State Banking Department was created by the New York Legislature on April 15, 1851, with a chief officer to be known as the Superintendent. The New York State Banking Department was the oldest bank regulatory agency in the United States.
United Federal Credit Union (UFCU) is a federally chartered credit union based in St. Joseph, Michigan with a 70-year history. Originally chartered in 1949, UFCU has more than 174,000 Members in all 50 states and the District of Columbia. The credit union assets in excess of $2.8 billion as of 2019. UFCU has 35 branches in six states: Michigan, Ohio, Indiana, Nevada, North Carolina, and Arkansas. United Federal Credit Union offers a diverse array of products and services for businesses and individuals, include checking and savings accounts; auto loans, RV and boat loans, credit cards; mortgage, construction, and lot loans; home equity loans, and lines of credit; business accounts, loans, and credit cards.
Golden West Financial was the second-largest savings and loan association in the United States, operating branches under the name of World Savings Bank.
Bank United Corporation, headquartered in Houston, Texas, was a broad-based financial services provider and the largest publicly traded depository institution headquartered in Texas before its merger with Washington Mutual in 2001. Bank United Corp. conducted its business through its wholly owned subsidiary, Bank United, a federally chartered savings bank. The company operated a 155-branch community banking network in Texas, including 77 in the Dallas/Fort Worth Metroplex, 66 in the greater Houston area, five in Midland, four in Austin, and three in San Antonio; operated 19 SBA lending offices in 14 states; was a national middle market commercial bank with 23 regional offices in 16 states; originated mortgage loans through 11 wholesale offices in 10 states; operated a national mortgage servicing business serving approximately 324,000 customers, and managed an investment portfolio. As of June 30, 2000, Bank United Corp. had assets of $18.2 billion, deposits of $8.8 billion, and stockholder's equity of $823 million.
Southern National Bank was a bank headquartered first in Lumberton, North Carolina and then in Winston-Salem, North Carolina. It joined with BB&T in 1995.
American Savings and Loan Association was an American savings and loan based in Stockton, California. It was the largest thrift failure and the federal government's costliest resolution during the savings and loan crisis at an estimated cost of $5.4 billion.
Gibraltar Savings Association was a Houston, Texas based savings and loan. Its failure and resolution was one of the most expensive in the savings and loan crisis at an estimated cost of $2.875 billion.
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