FOR IMMEDIATE RELEASE
October 2, 2015
Contact: William Grassano
OCC Appoints Receiver for Hometown National Bank, Longview, Washington
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for Hometown National Bank, Longview, Wash. As of June 30, 2015, the institution had approximately $4.9 million in total assets.
The OCC acted based on its finding that the bank had experienced substantial dissipation of assets and earnings due to unsafe or unsound practices. The OCC also found that the bank incurred losses that depleted its capital, that it is critically undercapitalized, and that there is no reasonable prospect that the bank will become adequately capitalized.
The FDIC will release information about the resolution of the bank.
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