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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


HomeBank started in 1934 and has its headquarters in Palmyra, Missouri. HomeBank has assets of $370 million as well as deposits totaling $296 million, making it a small bank. HomeBank 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 in-person service, in addition to its online and mobile offerings. SmartAsset experts rated the bank 4.1 out of 5 stars, indicating that HomeBank is a respectable bank that you should consider. HomeBank provides customers with a diversity of product offerings, including savings accounts, checking accounts, money market accounts, mortgage products and credit cards. HomeBank has a fair savings rate compared to the average savings account. Finding an institution with no-fee checking as well as a high savings APY is the best bet for accruing the most income on your deposits while having easy access to your money.

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

With a savings rate of 0.30%, HomeBank ranks poorly compared to the national average. HomeBank's CDs feature a rate of 0.65% and 1.60% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.40%. Given its poor savings rate, you should consider 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 bank locations in Illinois and Missouri. It also offers access to mobile and web apps for simple access and banking on the go. It does not offer 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 receives high marks from users for its mobile platform. Out of 19 ratings on both Apple and Android platforms, the HomeBank mobile app has an overall rating of 4.6 out of 5 (compared to the national average of 3.8). HomeBank's mobile app allows you to manage your accounts by checking account balances, transferring funds and accessing customer service. HomeBank receives an excellent consumer satisfaction rating based on relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-backed 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 is currently a small bank owning $370 million in assets as well as deposits totaling $296 million. It has a strong Texas Ratio of 8.19%, signifying that HomeBank is in fine financial health and far from failure. 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: 0.65% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.26% APY
  • 48 Month: 1.35% APY
  • 60 Month: 1.60% APY
$2500 for all terms
Money Market Account 0.3% APY $10000

HomeBank has several deposit products including savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. HomeBank 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. HomeBank's CD rates are fair compared to other U.S. banks.

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Find a HomeBank Near Me

HomeBank has seven branches across the U.S.

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