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Home Federal Bank Corporation Review

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Home Federal Bank Corporation Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Home Federal Bank Corporation first started operating in 1920 and its headquarters are located in Middlesboro, Kentucky. It has assets of $364 million and $284 million in deposits, which makes it a small bank. Home Federal Bank Corporation lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. SmartAsset experts rated the bank 4.1 stars out of 5, which means Home Federal Bank Corporation is a good bank that deserves your consideration. Home Federal Bank Corporation offers a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, brokerage accounts and mortgage products. It 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 Corporation offers an option without a monthly fee. Using a bank with free checking and a high interest rate savings account is your best option for gaining the most income from your deposits while maintaining convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.0
SmartAsset Average: 3.5

Home Federal Bank Corporation has a savings rate of 0.05%, which is fair compared to the national average. Home Federal Bank Corporation's one-year and five-year term lengths CDs earn at a rate of 0.50% and 2.01%, respectively, while its highest-yielding money market account earns at an APY of 0.50%. Given Home Federal Bank Corporation's poor savings rate, you should think about other options to earn more on your deposits.

How Home Federal Bank Corporation's Savings Rates Compare

Home Federal Bank Corporation Savings 0.05 National Average 0.26 Compare Offers
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Fees

4.5
SmartAsset Average: 4.4

Home Federal Bank Corporation typically has low fees in comparison to the national average. Its checking account has no monthly fee, rating it excellent for anyone looking for a simple account. Additionally, Home Federal Bank Corporation has an overdraft fee of $35.00, which is on par with that of other U.S. banks. Home Federal Bank Corporation doesn't refund out-of-network ATM charges, meaning you'll need to search for a Home Federal Bank Corporation ATM or accept the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $35.00 National Average: $35.00
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Service Quality

4.0
SmartAsset Average: 3.7

Home Federal Bank Corporation is a brick-and-mortar bank, with six total branches in Kentucky and Tennessee. With mobile and web apps, Home Federal Bank Corporation makes mobile banking convenient, even on the go. It does not have all-day customer service with representatives. You can get help during its hours, which are Monday, 8:00 a.m. to 5:00 p.m. ET; Tuesday through Thursday, 8:00 a.m. to 4:00 p.m. ET; Friday, and 8:00 a.m. to 6:00 p.m. ET. Home Federal Bank Corporation receives fairly high marks from customers for its mobile app. With 39 ratings across both Apple and Android platforms, the Home Federal Bank Corporation mobile app rates a 4.1 out of 5 (compared to the national average of 3.8). You can utilize Home Federal Bank Corporation's mobile app to control your finances by checking current statements, sending and receiving funds as well as accessing customer service. Home Federal Bank Corporation receives a superb consumer satisfaction score due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

Home Federal Bank Corporation is a small bank owning assets totaling $364 million and deposits totaling $284 million. Its Texas Ratio is 5.77%, suggesting that the bank is in fine financial shape and unlikely to fail. Additionally, Home Federal Bank Corporation is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.77%
High Risk 75% 50% 20% 10% Low Risk

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.

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Compare Home Federal Bank Corporation to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.1% APY $2500
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.70% APY
  • 60 Month: 2.01% APY
$2500 for all terms
Money Market Account 0.35% APY $5000

Home Federal Bank Corporation has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Home Federal Bank Corporation does not have the best savings rate, which means you should think about other options 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 Corporation's CD rates are fair compared to the national average.

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Find a Home Federal Bank Corporation Near Me

Home Federal Bank Corporation has six locations in the U.S.

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