Moment in Time

ThisWeek group
On March 20, 1985, protestors gathered outside the Ohio Statehouse to protest the closing of Home State Savings Bank. The bank, headquartered in Cincinnati, had 10 Columbus branches. The bank, which was insured by the Ohio Deposit Guarantee Fund, closed March 9 after ESM Government Securities Inc. of Fort Lauderdale, Florida, its securities brokerage firm, was closed by the Securities and Exchange Commission. On March 15, Gov. Dick Celeste declared a three-day banking holiday for other state-insured savings institutions until they could be insured by the federal government. Ohio eventually reimbursed all Home State Savings Bank depositors for a total of $12 million.