Hometown Bank Mortgage Rates, Fees & Info

Galveston, TX

LEI: 549300SHQJPJG8CN8153

Tax ID: 74-1541411

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Hometown Bank is a smaller bank specializing in Home Purchase and Refi loans. Hometown Bank has a high proportion of conventional loans. Their top two markets are Houston and San Antonio .

    Hometown Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    83

    Origination Dollar Volume (All Markets)

    $16,345,000

    Employee count

    107

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 82 $15,710,000 $191,585 $0 0.00%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $635,000 $635,000 $0 0.00%
    Hometown Bank's top markets include Houston and San Antonio among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 83 $16,345,000 $196,928 $0 0.00%

    For 2019, Hometown Bank's most frequently originated type of loan was Conventional, with 83 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 48 $10,560,000 $220,000 $0 0.00%
    Refi 18 $4,130,000 $229,444 $0 0.00%
    Home Improvement 14 $1,530,000 $109,286 $0 0.00%
    Other 3 $125,000 $41,667 $0 0.00%

    For 2019, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 48 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 83 $16,345,000 $196,928 $0 0.00%

    For 2019, Hometown Bank's most frequently cited loan duration was Other, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 29 $4,025,000 $138,793 $0 0.00%
    $200k-400k 27 $7,075,000 $262,037 $0 0.00%
    $100,000 or less 20 $1,270,000 $63,500 $0 0.00%
    $400k-600k 5 $2,525,000 $505,000 $0 0.00%
    $600k-1MM 2 $1,450,000 $725,000 $0 0.00%

    2019 saw Hometown Bank place emphasis on $100k-200k loans with 29 originations, totaling $4,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $3,045,000 $160,263 $0 0.00%
    $150k-250k 16 $2,910,000 $181,875 $0 0.00%
    $50k or less 12 $1,050,000 $87,500 $0 0.00%
    $250k+ 9 $3,345,000 $371,667 $0 0.00%
    $50k-75k 8 $1,370,000 $171,250 $0 0.00%
    $75k-100k 5 $1,195,000 $239,000 $0 0.00%

    Hometown Bank lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $150k-250k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 83 $16,345,000 $196,928 $0 0.00%

    Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $11,200,000 $193,103 $0 0.00%
    Not applicable 14 $3,430,000 $245,000 $0 0.00%
    Not provided 5 $1,005,000 $201,000 $0 0.00%
    Black 2 $260,000 $130,000 $0 0.00%
    American Indian 2 $240,000 $120,000 $0 0.00%
    Asian 2 $210,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    79.72%

    Hometown Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.88%

    Hometown Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 83 $16,345,000 $196,928

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $1,325,000 $265,000
    Single Family (1-4 Units):Site-Built 78 $15,020,000 $192,564

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    HomeTown Lenders, LLC VA mortgage Closing on a mortgage 1 50.0%
    HomeTown Lenders, LLC FHA mortgage Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    HomeTown Bank, National Association 1050 North Bypass 35 Alvin, TX 77511 Full Service B&M $36,197
    HomeTown Bank, National Association 1406 West Main League City, TX 77573 Full Service B&M $91,918
    HomeTown Bank, National Association 1801 45th Street Galveston, TX 77552 Full Service B&M $223,847
    HomeTown Bank, National Association 2651 Pearland Parkway Pearland, TX 77581 Full Service B&M $35,205
    HomeTown Bank, National Association 3211 Fm 528 Friendswood, TX 77546 Full Service B&M $34,924
    HomeTown Bank, National Association 4424 Seawall Boulevard Galveston, TX 77550 Full Service B&M $0
    HomeTown Bank, National Association 601 South Friendswood Drive Friendswood, TX 77546 Full Service B&M $93,774

    For 2019, Hometown Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,423
    Net interest income $23,537
    Total noninterest income $2,291
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $879
    Trading account gains and fees $0
    Additional Noninterest Income $1,412
    Pre-tax net operating income $10,586
    Securities gains (or losses, -) $66
    Income before extraordinary items $8,631
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,631
    Minority interest net income $0
    Net income $8,631
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,577

    Hometown Bank's gross interest income from loans was $27,423,000.
    Hometown Bank's net interest income from loans was $23,537,000.
    Hometown Bank's fee based income from loans was $879,000.
    Hometown Bank's net income from loans was $8,631,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,886
    Provision for credit losses $776
    Total noninterest expense $14,466
    Salaries and employee benefits $7,747
    Premises and equipment expense $1,623
    Additional noninterest expense $5,096
    Applicable income taxes $2,021
    Net charge-offs $463
    Cash dividends $1,645

    Hometown Bank's interest expense for loans was $3,886,000.
    Hometown Bank's payroll and benefits expense were $7,747,000.
    Hometown Bank's property, plant and equipment expenses $1,623,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $546,004
    Deposits held in domestic offices $546,004
    Deposits by Individuals, partnerships, and corporations $530,075
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $15,928
    Deposits by Commercial banks and other depository institutions in U.S. $1
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $206,228
    Demand deposits $157,804
    Nontransaction accounts $339,776
    Money market deposit accounts (MMDAs) $145,350
    Other savings deposits (excluding MMDAs) $53,263
    Total time deposits $141,163
    Total time and savings deposits $388,200
    Noninterest-bearing deposits $157,409
    Interest-bearing deposits $388,595
    Retail deposits $483,150
    IRAs and Keogh plan accounts $12,097
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $626,891
    Cash & Balances due from depository institutions $18,534
    Interest-bearing balances $12,060
    Total securities $150,033
    Federal funds sold & reverse repurchase $18,000
    Net loans and leases $423,913
    Loan and leases loss allowance $4,931
    Trading account assets $0
    Bank premises and fixed assets $9,991
    Other real estate owned $100
    Goodwill and other intangibles $0
    All other assets $6,320

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $626,891
    Total Liabilities $547,870
    Total deposits $546,004
    Interest-bearing deposits $388,595
    Deposits held in domestic offices $546,004
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,866

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $423,913
    Loan and leases loss allowance $4,931
    Total loans and leases (domestic) $428,844
    All real estate loans $375,359
    Real estate loans in domestic offices $375,359
    Construction and development loans $56,831
    Residential 1-4 family construction $3,386
    Other construction, all land development and other land $53,445
    Loans secured by nonfarm nonresidential properties $201,876
    Nonfarm nonresidential secured by owner-occupied properties $102,201
    Commercial real estate & other non-farm, non-residential $99,675
    Multifamily residential real estate $3,926
    1-4 family residential loans $102,550
    Farmland loans $10,176
    Loans held in foreign offices $0
    Farm loans $1,168
    Commercial and industrial loans $40,968
    To non-U.S. addressees $0
    Loans to individuals $10,543
    Credit card loans $0
    Related Plans $85
    Consumer Auto Loans $1,489
    Other loans to individuals $8,969
    All other loans & leases $806
    Loans to foreign governments and official institutions $0
    Other loans $806
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,100
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $186
    Non 1-4 family restructured loans & leases $169
    Total loans and leases (foreign) $0

    HomeTown Bank had $423,913,000 of loans outstanding in 2019. $375,359,000 of loans were in real estate loans. $56,831,000 of loans were in development loans. $3,926,000 of loans were in multifamily mortgage loans. $102,550,000 of loans were in 1-4 family mortgage loans. $1,168,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,489,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 311 $79,284 $254,932
    Nonfarm, nonresidential loans - <$100k 42 $2,199 $52,357
    Nonfarm, nonresidential loans - $100-250k 113 $15,150 $134,071
    Nonfarm, nonresidential loans - $250k-1MM 156 $61,935 $397,019
    Commercial & Industrial, US addressed loans - <$1MM 478 $23,384 $48,921
    Commercial & Industrial, US addressed loans - <$100k 394 $9,143 $23,206
    Commercial & Industrial, US addressed loans - $100-250k 47 $3,959 $84,234
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $10,282 $277,892
    Farmland loans - <$1MM 7 $891 $127,286
    Farmland loans - <$100k 3 $179 $59,667
    Farmland loans - $100-250k 3 $353 $117,667
    Farmland loans - $250k-1MM 1 $359 $359,000
    Agriculture operations loans - <$1MM 1 $95 $95,000
    Agriculture operations loans - $100-250k 1 $95 $95,000