Established in 1924, Home Federal Bank has $413 million in assets and deposits totaling $343 million, classifying it as a medium-size bank. Home Federal Bank, whose headquarters are in Shreveport, Louisiana, lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Coming in at a commendable 4.2 stars out of 5, Home Federal Bank is a solid pick to be your bank. Home Federal Bank provides customers with a mixture of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Home Federal Bank has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, Home Federal Bank's ordinary checking account does not have a monthly fee. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is the best option for accruing the most income from your deposits while maintaining convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.10%, Home Federal Bank ranks poorly as compared against the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.40% and 1.40%, respectively, while its highest-yielding money market account has an APY of 0.05%. Given Home Federal Bank's poor savings rate, you should consider opting for higher earning savings accounts with other banks.
How Home Federal Bank's Savings Rates Compare
Home Federal Bank has typically extremely low fees in comparison to other U.S. banks. Its checking account has no monthly fee, which makes it excellent for anyone looking for a simple account. For those who use cash often, Home Federal Bank is good because it has an out-of-network ATM fee of $1.00, which is solid compared to the average U.S. bank. Home Federal Bank does not refund out-of-network ATM charges, meaning you'll need to locate a Home Federal Bank ATM or pay the cost of withdrawal.
Home Federal Bank is a brick-and-mortar bank, with seven total bank locations in Louisiana. With mobile and web apps, Home Federal Bank makes account access easy, even on the go. Home Federal Bank receives high marks from users for its online presence. Out of 13 ratings on Apple and Android platforms, the Home Federal Bank mobile app rates a 4.8 out of 5 (compared to the national average of 3.8). Home Federal Bank's mobile app allows you to manage your accounts by reviewing current statements, transferring money and accessing support representatives. Home Federal Bank receives an excellent consumer satisfaction score due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Home Federal Bank is a medium-size bank and has $413 million in assets and $343 million in deposits. Home Federal Bank's Texas Ratio is 5.87%, indicating that Home Federal Bank is in good financial health and far from failure. Additionally, Home Federal 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 Federal Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$1000|
|Checking Account||0.05% APY||$100|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.05% APY 0.05% APY||$10000 $15000|
Home Federal Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Home Federal Bank does not have the best savings rate, which means you should think about taking a look 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 Federal Bank's CD rates are fair in comparison to other U.S. banks.Back to Overview
Find a Home Federal Bank Near Me
Home Federal Bank has seven physical branches across the U.S.Back to Overview