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HomeBank Review

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HomeBank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1934, HomeBank has $370 million in assets and $296 million in deposits, classifying it as a small bank. HomeBank, whose headquarters are in Palmyra, Missouri, 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 in-person service, in addition to its online and mobile apps. Overall, HomeBank is a good bank that gets the job done, with a score of 4.1 stars out of 5 from the SmartAsset team. HomeBank has a selection of product offerings, which include savings accounts, checking accounts, money market accounts, mortgage products and credit cards. HomeBank has a fair savings rate compared to the average savings account. Obtaining a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best option for returning the most income on your deposits alongside easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

HomeBank features a savings rate of 0.30%, which is poor in comparison to the average U.S. bank. Its one-year CD earns at a rate of 1.51% and the five-year CD earns at a rate of 1.60%, while its highest-yielding money market account has an APY of 0.50%. Given its below average savings rate, you should think about taking a look at other banks for savings accounts.

How HomeBank's Savings Rates Compare

HomeBank Savings 0.30 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

There is insufficient data on HomeBank'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

SmartAsset Average: 3.7

HomeBank is a brick-and-mortar bank, with seven total branches in Illinois and Missouri. It also offers access to mobile and web apps for a straightforward mobile-banking experience. It does not provide access to all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Friday, 7:00 a.m. to 7:00 p.m. CT; Saturday, and 8:00 a.m. to 2:00 p.m. CT. HomeBank's online and mobile banking services receive great feedback from customers. The HomeBank mobile app has an overall rating of 4.6 out of 5 (out of 19 ratings on iOS and Android) compared to the national average of 3.8. You can use HomeBank's app to manage your bank accounts by monitoring monthly statements, sending and receiving funds as well as reaching customer service. HomeBank gets an exceptional consumer satisfaction score based on comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

HomeBank ranks as a small bank and owns assets totaling $370 million as well as deposits totaling $296 million. HomeBank's Texas Ratio is 8.19%, indicating that the bank is in fine financial health and unlikely to fail. Additionally, HomeBank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 HomeBank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $500
Checking Account 0.25% APY $2500
Certificates of Deposit
  • 12 Month: 1.51% APY
  • 24 Month: 1.51% APY
  • 36 Month: 1.51% APY
  • 48 Month: 1.51% APY
  • 60 Month: 1.60% APY
$2500 for all terms
Money Market Account 0.4% APY $10000

HomeBank has several deposit products including savings accounts, checking accounts and money market accounts to give you many options to manage your money. HomeBank 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. HomeBank's CD rates are fair in comparison to the average U.S. bank.

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Find a HomeBank Near Me

HomeBank has seven physical locations in the U.S.

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