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HomeTown Bank Review

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HomeTown Bank Savings
0.35% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Started in 1966, HomeTown Bank has assets totaling $586 million along with $522 million in deposits, making the institution a medium-size bank. HomeTown Bank, whose headquarters are in Galveston, Texas, has above-average customer service access 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. At a SmartAsset rating of 4.4 out of 5 stars, HomeTown Bank should be solidly in contention for your choice of bank. HomeTown Bank has a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. HomeTown Bank has a fair savings rate; you can find higher rates with other banks. Using a bank with no-fee checking, in addition to a high interest rate savings account is your best option for accruing the most income on your deposits while having convenient 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

HomeTown Bank has a savings rate of 0.35%, which is poor compared to other U.S. banks. HomeTown Bank's CDs feature a rate of 1.26% and 1.41% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.60%. Given HomeTown Bank's poor savings rate, you should think about taking a look at other banks for savings accounts.

How HomeTown Bank's Savings Rates Compare

HomeTown Bank Savings 0.35 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

HomeTown Bank typically has extremely low fees as compared against the national average. Also, HomeTown Bank has an overdraft fee of $30.00, which is considerably lower than the average U.S. overdraft fee. HomeTown Bank doesn't reimburse out-of-network ATM fees, meaning you'll be required to locate a HomeTown Bank ATM or accept the cost of withdrawal.

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 branches in Texas. With mobile and web apps, HomeTown Bank makes mobile banking straightforward, even on the go. It provides all-day access to representatives. HomeTown Bank gets high praise from users for its mobile platform. With 200 ratings across iOS and Android platforms, the HomeTown Bank mobile app has an overall rating of 4.6 out of 5 (compared to the national average of 3.8). You can use HomeTown Bank's app to control your funds by reviewing current statements, sending and receiving money and accessing support representatives. HomeTown Bank receives an excellent consumer satisfaction rating due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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 and manages assets totaling $586 million as well as deposits totaling $522 million. HomeTown Bank's Texas Ratio is 8.39%, indicating a small chance 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 0.35% APY $300
Checking Account 0.2% APY $1500
Certificates of Deposit
  • 12 Month: 1.26% APY
  • 24 Month: 1.31% APY
  • 36 Month: 1.31% APY
  • 60 Month: 1.41% APY
$1000 for all terms
Money Market Account 0.45% 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 think about 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 locations in the U.S.

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