HomeFed Bank was an American savings and loan association based in San Diego.
[1] It was founded by Charles K. Fletcher as Home Federal Savings and Loan Association in 1934 with $7,500, including $2,000 of his own and $7,500 from friends.
[2][3] At the time, new federal legislation in the Home Owners' Loan Corporation Act had created a new industry for mortgage finance.
[3] In November 1990, HomeFed warned federal regulators that its non-performing loans could increase by $250 million in the fourth quarter to a total of about $1 billion if the economy did not improve.
At the time, it was the country's fifth-largest savings and loan with $19.1 billion in assets and 215 branches.