After a federal takeover on Monday, San Diego-based HomeFed Bank's much-ballyhooed sale remains clouded by the thrift-bailout agency's funding crisis.

HomeFed, with about $12.4 billion in assets, failed after an ill-fated venture into construction lending left it virtually without capital and with a bulging portfolio of sour loans. It is the nation's eight-largest savings institution and the biggest ever to be put into receivership.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.