Established in 1908, Home Bank has $2 billion in assets along with deposits totaling $2 billion, making it a large bank. Home Bank, whose headquarters are in Lafayette, Louisiana, lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at an average 3.7 out of 5 stars, Home Bank is an average bank that leaves room for improvement. Home Bank offers a varied selection of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account carries a monthly fee of $8.00, making it a rather costly bank for checking. Locating a bank with no-fee checking as well as a high savings APY is your best option for returning the most income on your deposits alongside convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
Home Bank features a savings rate of 0.40%, which is fair in comparison to other U.S. banks. Its one-year CD has a rate of 1.50% and the five-year CD has a rate of 2.75%, while its highest-yielding money market account earns at a rate of 0.50%. Given its noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.
How Home Bank's Savings Rates Compare
Home Bank charges customers high fees compared to the average U.S. bank. At $8.00 per month, Home Bank is less than great for those who want a simple checking account. Home Bank doesn't refund out-of-network ATM fees, which means you will have to find a Home Bank ATM or accept the withdrawal fee.
Home Bank is a brick-and-mortar bank, with 41 total branches in Louisiana and Mississippi. With mobile and web apps, Home Bank makes account access easy, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 5:30 p.m. PT; Saturday, and 8:00 a.m. to 1:00 p.m. PT. Home Bank receives average marks from users for its mobile banking services. Out of 120 ratings across both iOS and Android platforms, the Home Bank mobile app rates a 3.7 out of 5 (compared to the national average of 3.8). You can access Home Bank's app to control your accounts by checking account balances, sending and receiving money and accessing support representatives. Home Bank gets a superb consumer satisfaction rating due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.
Home Bank is a large bank owning assets totaling $2 billion and deposits totaling $2 billion. Home Bank has a strong Texas Ratio of 10.78%, signifying a small likelihood of failure. Additionally, Home Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.Back to Overview
Compare Home Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.4% APY||$50|
|Checking Account||0.05% APY||$2500|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.3% APY 0.5% APY||$10000 $15000|
Home Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Home Bank does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Home Bank's CD rates are fair compared to the national average.Back to Overview
Find a Home Bank Near Me
Home Bank has 41 branches across the U.S.Back to Overview