“We continue to see high unemployment nationally and in our local markets. And the outlook for improvement in economic growth, which we believe is necessary to drive loan demand, remains questionable.”-Len Williams, Home Federal Bancorp

Home Federal Bank will close six branches in Idaho and Oregon.  Officials hope it will save the bank U.S.$1 million in the next year.

A total of 35 people will lose their jobs.  20 in Idaho and 15 in Oregon.  10 of the Idaho lay offs will come from changes to Home Federal’s mortgage operations.

Home Federal Bank reported a $4.1 million loss in 2010, and so far this year has lost $2.6 million!