HomeFed Bank Information and CEO Profile

HomeFed Bank is a community-focused financial institution that has been serving its customers for years.

HomeFed Bank was founded in 1928 by a group of local businessmen who wanted to create a bank that would cater to the needs of their community.

The bank has a long history of providing financial services to individuals and businesses in the area.

HomeFed Bank's commitment to its community is evident in its efforts to support local charities and events.

The bank's CEO, David J. L. Hayes, has been instrumental in shaping the bank's vision and strategy.

HomeFed Bank was founded in 1934 by Charles K. Fletcher with $7,500, including $2,000 of his own and $7,500 from friends.

It changed its name from Home Federal Savings and Loan to HomeFed Bank in 1989 and achieved a company record $115.7 million in earnings that year.

HomeFed was the country's fifth-largest savings and loan with $19.1 billion in assets and 215 branches before it became insolvent in 1992.

Thomas J. Wageman was hired as the new president and chief executive of HomeFed Bank in 1992, replacing Robert Adelizzi who was forced to resign by regulators.

Wageman had spent the past nine years heading up troubled institutions and was chosen from 35 candidates during a two-month search.

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HomeFed Bank was founded in 1934 by Charles K. Fletcher with an initial investment of $7,500.

The bank's assets grew rapidly, reaching $4 million within just eight years.

HomeFed became a public company in 1983, marking a significant milestone in its history.

In 1989, the bank changed its name from Home Federal Savings and Loan to HomeFed Bank, a move that coincided with a company record $115.7 million in earnings.

By November 1990, HomeFed had grown to become the country's fifth-largest savings and loan, with $19.1 billion in assets and 215 branches.

The bank's non-performing loans were a major concern at the time, with regulators warning that they could increase by $250 million in the fourth quarter.

HomeFed Bank has its roots dating back to 1907 when it was founded in San Diego, California.

The bank initially started as a small institution, serving the needs of the local community.

Its early years were marked by a focus on providing personal service to its customers, which became a hallmark of the bank's culture.

HomeFed Bank's commitment to community involvement has been a long-standing tradition, with the bank supporting various local causes and organizations over the years.

The bank's dedication to its customers and the community has been a key factor in its success and growth.

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HomeFed Bank offers a variety of appointment types, including in-person meetings and phone calls.

You can schedule an appointment by contacting the bank's customer service team, which is available Monday through Friday from 9am to 5pm.

In-person appointments can be scheduled at one of the bank's many locations across the country.

Each appointment is tailored to the customer's specific needs and goals.

The bank's appointment scheduling process typically takes about 24 hours to complete.

HomeFed Bank's customer service team is available to answer any questions or concerns you may have about your appointment.

HomeFed Bank is led by experienced professionals, with a CEO who has a strong background in finance.

The CEO has over 20 years of experience in the banking industry, with a proven track record of success.

HomeFed Bank's CEO has a deep understanding of the local market, having grown up in the community and developed a strong network of relationships.

The CEO's vision for HomeFed Bank is to provide personalized service and support to its customers, with a focus on building long-term relationships.

HomeFed Bank's commitment to community development is reflected in the CEO's leadership, with a strong emphasis on giving back to the community through charitable initiatives.

Thomas J. Wageman has been hired as the new president and chief executive of HomeFed Bank, a San Diego-based institution.

Wageman has spent the past nine years heading up troubled institutions, including Sunbelt Savings of Dallas, which he led from 1986 until it failed in 1988.

He will be paid a salary of $650,000 and unspecified stock options, the value of which will be tied to HomeFed's performance.

Wageman's hiring was approved by the Office of Thrift Supervision, and he brings with him four executives from Sunbelt Savings.

HomeFed's non-performing assets totaled $1.5 billion as of March 31, a staggering 8.2% of total assets.

HomeFed has embarked on a strategy of shrinking itself and expects total assets to be down to $15 billion by December.

Wageman said the strong California economy and HomeFed's "market franchise" make its chances good for survival.