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Home State Bank Review

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Home State Bank Savings
0.07% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1915, Home State Bank has assets totaling $578 million as well as $499 million in deposits, classifying it as a medium-size bank. Home State Bank, whose headquarters are in Crystal Lake, Illinois, lacks premium access to support representatives, with no live chat or all-day service options available. 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. At a SmartAsset rating of 3.5 out of 5 stars, Home State Bank should be more closely inspected to see if its services satisfy your needs. Home State Bank offers a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. Finding a bank with no-fee checking, in addition to a high savings APY is the best bet for getting the highest income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

3.5/5
National Average: 4.1

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

Rates

2.8
SmartAsset Average: 3.5

Home State Bank has a savings rate of 0.07%, which is fair compared to the national average. Its one-year CD has a rate of 0.20% and the five-year CD has a rate of 1.00%, while its highest-yielding money market account has a rate of 0.30%. Given its poor savings rate, you should think about looking at the competition to open savings accounts.

How Home State Bank's Savings Rates Compare

Home State Bank Savings 0.07 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Home State Bank's fees to provide a full SmartAsset rating.

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

3.7
SmartAsset Average: 3.7

Home State Bank is a brick-and-mortar bank, with eight total branches in Illinois. It also offers access to mobile and web apps for simple access and banking on the go. Home State Bank receives average reviews from users for its mobile banking services. The Home State Bank mobile app has an overall rating of 3.6 out of 5 (out of 24 customer reviews on Apple and Android) compared to the national average of 3.8. You can utilize Home State Bank's mobile app to manage your accounts by monitoring current statements, sending and receiving funds and accessing support representatives. Home State Bank gets an exceptional consumer satisfaction score based on relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

3.9
SmartAsset Average: 4.8

Home State Bank is currently a medium-size bank owning assets totaling $578 million and deposits totaling $499 million. It has a good Texas Ratio of 23.79%, denoting that the bank is in satisfactory financial well-being. Additionally, Home State Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

23.79%
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 State Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.07% APY $1
Checking Account 0.05% APY $500
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.30% APY
  • 36 Month: 0.50% APY
  • 48 Month: 0.65% APY
  • 60 Month: 1.00% APY
$1000 for all terms
Money Market Accounts 0.2% APY 0.3% APY $10000 $15000

Home State 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 State Bank does not have the best savings rate, which means you should consider 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 State Bank's CD rates are fair compared to other U.S. banks.

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Find a Home State Bank Near Me

Home State Bank has eight locations in the U.S.

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