In Brief: Indiana Bank to Take $180K Bad-Check Charge

after-tax charge-33 cents a share-in the fourth quarter to cover fraudulent checks deposited into a customer's account. The $722 million-asset thrift holding company said it is still trying to recover the $298,300 in bad checks that a customer deposited into a checking account at its subsidiary, Home Federal Savings Bank. Law enforcement officials are investigating the incident and may press charges, according to Home Federal. Any funds recovered from the customer or the two parties that wrote the fraudulent checks would be added to income, Home Federal said it Home Federal Savings has 16 branches in southeastern Indiana. -Laura Pavlenko Lutton

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER