Home State Bank was founded in 1915 with its headquarters in Crystal Lake, Illinois. It owns $578 million in assets and $499 million in deposits, ranking it as a medium-size bank. Home State Bank 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. We gave Home State Bank a 3.5 out of 5 stars, suggesting it is a decent bank that leaves room for improvement. Home State Bank offers a complete suite of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Home State Bank has a fair savings rate; you can find higher rates with other banks. Obtaining a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best bet for accruing the most income from 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
With a savings rate of 0.07%, Home State Bank ranks poorly compared to the national average. Home State Bank's CDs feature a rate of 0.20% and 1.00% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at a rate of 0.15%. Given its poor savings rate, you should consider looking at the competition to open savings accounts.
How Home State Bank's Savings Rates Compare
There is insufficient data on Home State Bank's fees to provide a full SmartAsset rating.
Home State Bank is a brick-and-mortar bank, with eight total bank locations in Illinois. With mobile and web apps, Home State Bank makes account access easy, even on the go. Home State Bank's online and mobile banking platforms get moderate scores from customers. The Home State Bank mobile app has been given a 3.6 out of 5 (with 24 reviews on Apple and Android) compared to the national average of 3.8. Home State Bank's mobile app lets you control your bank accounts by checking current statements, sending and receiving funds and accessing customer service. Home State Bank receives a superb consumer satisfaction rating based on comparatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.
Home State Bank ranks as a medium-size bank with assets totaling $578 million as well as deposits totaling $499 million. Home State Bank's Texas Ratio is 23.79%, denoting that Home State Bank is in fine financial shape. 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
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 State Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.07% APY||$1|
|Checking Account||0.05% APY||$500|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.09% APY||$10000|
Home State Bank has several deposit products including 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 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 State Bank's CD rates are fair compared to the national average.Back to Overview
Find a Home State Bank Near Me
Home State Bank has eight physical locations across the U.S.Back to Overview