Two more banks went under over the weekend, and one of those banks did not find another financial institution to take over.

Home Savings of America in Little Falls, Minnesota was left in the hands of the Federal Deposit Insurance Corporation (FDIC) after not finding another bank to purchase its assets.

According to a release from the Office of the Comptroller of the Currency (OCC), which closed the bank, “the [regulator] acted after finding that the institution had experienced substantial dissipation of assets and earnings due to unsafe or unsound practices.”

The OCC also found that the bank was undercapitalized and needed federal assistance in order to be adequately capitalized.
The FDIC will mail checks for the amount of insured money directly to depositors of Home Savings of America.

As of December 31, 2011, the bank held $434.1 million in assets and $432.2 million in deposits and will cost the FDIC’s insurance fund $38.8 million.

Customers with more than $250,000 deposited with the bank can visit Is My Account Fully Insured? to find the amount covered.

State regulators closed the Central Bank of Georgia based in Ellaville, Georgia. So far, four banks have closed in February, with 11 failures this year.

The FDIC entered into a purchase and assumption agreement with Ameris Bank of Moultrie, Georgia, to have the bank assume all deposits. As of December 31, 2011, the failed bank held about $278.9 million in assets and $266.6 million in deposits.

The five branches of Central Bank of Georgia reopened Saturday, operating as Ameris Bank.

The bank failure will cost the FDIC about $67.5 million.

Last year, the FDIC reported 92 bank closings, a figure following 157 closings in 2010.