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We are pleased to provide information on the progress of our merger with First Federal Bank of the Midwest (First Federal Bank). We will continue to share important information by updating this page, and we encourage you to check back for updates or contact us at 1.888.822.4751, Option 2 if your questions are not answered here. As of January 31, 2020, Home Savings Bank is now part of First Federal Bank.

What Does This Mean for You?

Continued superior customer service:
This merger will create a larger community bank with enhanced products, services and technology, and an expanded branch footprint of 77 full-service branches, 3 wealth and 12 mortgage loan offices. We will continue to provide superior customer service and personalized financial solutions.

Continued support of each community:
Our customers and communities will remain at the center of what we do, and this partnership will only strengthen our bonds. We will continue to support our local community organizations through financial and volunteer support.

Are there any changes to my accounts and the way I bank?

No, please continue to bank as you normally do by using the same checks, debit and credit cards, PINs, online services, and mobile apps as you always have. You will be notified well in advance of any changes to your accounts and services as we fully integrate our two organizations early in the third quarter of 2020. Once the integration is complete, you will enjoy a larger community bank with a new name and an expanded branch network of 77 full-service locations as we continue the tradition of putting the customer first.

When can I start using Home Savings Bank and/or First Federal Bank branches and ATMs?

Branches:
You will have access to all 77 branches early in the third quarter of 2020 once systems are fully integrated.

ATMs:
Both banks are part of the MoneyPass® network, giving you access to cash at over 32,000 ATMs nationwide without a surcharge fee. First Federal Bank customers cannot make deposits at Home Savings Bank ATMs and vice versa until we are fully integrated early in the third quarter of 2020.

Will First Federal Bank and Home Savings Bank both be changing their names as part of this merger?

An exciting, new name and logo that captures this enhanced brand for our combined organization is coming later in 2020.

What happens to my FDIC Insurance now that the two banks have merged? Standard FDIC insurance coverage is $250,000 per depositor, per FDIC-insured bank, per ownership category (individual, joint, etc.). If you have deposit accounts at both Home Savings Bank and First Federal Bank and the combined total is $250,000 or less (including accrued interest), all of your funds will be fully protected after the merger. If this transition causes your total deposits to exceed $250,000, funds in those accounts will be separately insured – as if the two banks are still operating separately – for a period of six (6) months after January 31, 2020, and possibly longer for certificates of deposit (CDs). This time will allow you to work with a bank representative to restructure your accounts, if necessary. Please contact us if you have FDIC coverage concerns.
Did any branch locations, Wealth Management or loan offices close? Since we operate in market areas with little overlap, no branches, Wealth Management or loan offices were closed. You'll see the same friendly faces in the same branches and offices. All contact information remains the same too.