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HomeTown Bank Review

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HomeTown Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


HomeTown Bank was founded in 1966 and has its headquarters in Galveston, Texas. It manages assets of $586 million as well as deposits totaling $522 million, ranking it as a medium-size bank. HomeTown Bank has above-average access to customer service with all-day support available, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. With a score of 4.4 out of 5 stars, HomeTown Bank should be solidly in contention for your choice of bank. HomeTown Bank offers the full slate of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate compared to the average savings account. Using an institution with no-fee checking and a high savings APY is your best bet for returning the highest income from your deposits while having convenient 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

With a savings rate of 0.15%, HomeTown Bank ranks poorly as compared against the national average. HomeTown Bank's one-year and five-year term lengths CDs earn at a rate of 1.00% and 1.41%, respectively, while its highest-yielding money market account has an APY of 0.40%. Given HomeTown Bank's poor savings rate, you should consider looking at the competition to open savings accounts.

How HomeTown Bank's Savings Rates Compare

HomeTown Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

HomeTown Bank charges customers extremely low fees compared to other U.S. banks. Also, it has an overdraft fee of $30.00, which is markedly less than that of other U.S. banks. HomeTown Bank does not refund out-of-network ATM fees, meaning you will need to find a HomeTown Bank ATM or pay the withdrawal fee.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

HomeTown Bank is a brick-and-mortar bank, with seven total bank locations in Texas. With mobile and web apps, HomeTown Bank makes account access easy, even on the go. It has access to all-day customer service. HomeTown Bank's online and mobile banking platforms receive high praise from users. The HomeTown Bank mobile app is rated at 4.6 out of 5 (out of 200 reviews on iOS and Android) compared to the national average of 3.8. HomeTown Bank's mobile app lets you manage your accounts by looking at account balances, sending and receiving money and reaching customer service. HomeTown Bank receives an outstanding consumer satisfaction rating due to comparatively few complaints filed with 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

HomeTown Bank ranks as a medium-size bank with $586 million in assets and deposits totaling $522 million. HomeTown Bank has a strong Texas Ratio of 8.39%, denoting a small likelihood of failure. Additionally, HomeTown Bank 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 HomeTown Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $300
Checking Account 0.1% APY $1500
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.06% APY
  • 36 Month: 1.06% APY
  • 60 Month: 1.41% APY
$1000 for all terms
Money Market Account 0.3% APY $2500

HomeTown Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. HomeTown 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. HomeTown Bank's CD rates are fair in comparison to other U.S. banks.

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Find a HomeTown Bank Near Me

HomeTown Bank has seven physical branches across the U.S.

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