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 markets by origination volume include: Houston, Brenham, and Huntsville among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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

    112

    Origination Dollar Volume (All Markets)

    $32,410,000

    Employee count

    109

    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) 110 $30,630,000 $278,455 $0 0.00%
    Brenham, TX (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 0.00%
    Huntsville, TX (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    Hometown Bank's top markets include Houston, Brenham, and Huntsville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 112 $32,410,000 $289,375 $0 0.00%

    For 2020, Hometown Bank's most frequently originated type of loan was Conventional, with 112 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $20,225,000 $342,797 $0 0.00%
    Refi 35 $8,105,000 $231,571 $0 0.00%
    Home Improvement 12 $3,280,000 $273,333 $0 0.00%
    Other 6 $800,000 $133,333 $0 0.00%

    For 2020, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 112 $32,410,000 $289,375 $0 0.00%

    For 2020, Hometown Bank's most frequently cited loan duration was Other, with 112 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 33 $9,195,000 $278,636 $0 0.00%
    $100k-200k 31 $4,355,000 $140,484 $0 0.00%
    $100,000 or less 26 $1,870,000 $71,923 $0 0.00%
    $400k-600k 11 $5,335,000 $485,000 $0 0.00%
    $600k-1MM 7 $5,345,000 $763,571 $0 0.00%
    $1MM+ 4 $6,310,000 $1,577,500 $0 0.00%

    2020 saw Hometown Bank place emphasis on $200k-400k loans with 33 originations, totaling $9,195,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $2,895,000 $193,000 $0 0.00%
    $150k-250k 15 $4,105,000 $273,667 $0 0.00%
    $250k+ 15 $7,355,000 $490,333 $0 0.00%
    $50k-75k 11 $1,795,000 $163,182 $0 0.00%
    $75k-100k 11 $1,615,000 $146,818 $0 0.00%
    $50k or less 9 $965,000 $107,222 $0 0.00%

    Hometown Bank lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $150k-250k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 112 $32,410,000 $289,375 $0 0.00%

    Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 112 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 59 $15,525,000 $263,136 $0 0.00%
    Not applicable 35 $12,725,000 $363,571 $0 0.00%
    Not provided 8 $1,960,000 $245,000 $0 0.00%
    Asian 5 $1,365,000 $273,000 $0 0.00%
    Black 4 $530,000 $132,500 $0 0.00%
    American Indian 1 $305,000 $305,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    79.58%

    Hometown Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    66.07%

    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 112 $32,410,000 $289,375

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $7,050,000 $881,250
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 103 $25,295,000 $245,583

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    HomeTown Lenders, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    HomeTown Lenders, LLC Other type of 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 $44,404
    Hometown Bank, National Association 1406 West Main League City, TX 77573 Full Service B&M $51,856
    Hometown Bank, National Association 1801 45th Street Galveston, TX 77552 Full Service B&M $275,879
    Hometown Bank, National Association 2651 Pearland Parkway Pearland, TX 77581 Full Service B&M $46,491
    Hometown Bank, National Association 3211 Fm 528 Friendswood, TX 77546 Full Service B&M $95,688
    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 $126,791

    For 2020, Hometown Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,200
    Net interest income $25,620
    Total noninterest income $2,056
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $817
    Trading account gains and fees $0
    Additional Noninterest Income $1,239
    Pre-tax net operating income $11,764
    Securities gains (or losses, -) $70
    Income before extraordinary items $9,635
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,635
    Minority interest net income $0
    Net income $9,635
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,578

    Hometown Bank's gross interest income from loans was $29,200,000.
    Hometown Bank's net interest income from loans was $25,620,000.
    Hometown Bank's fee based income from loans was $817,000.
    Hometown Bank's net income from loans was $9,635,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,580
    Provision for credit losses $975
    Total noninterest expense $14,937
    Salaries and employee benefits $8,279
    Premises and equipment expense $1,588
    Additional noninterest expense $5,070
    Applicable income taxes $2,199
    Net charge-offs $-4
    Cash dividends $1,856

    Hometown Bank's interest expense for loans was $3,580,000.
    Hometown Bank's payroll and benefits expense were $8,279,000.
    Hometown Bank's property, plant and equipment expenses $1,588,000.

    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 $686,339
    Deposits held in domestic offices $686,339
    Deposits by Individuals, partnerships, and corporations $668,250
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $18,089
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $288,649
    Demand deposits $229,784
    Nontransaction accounts $397,690
    Money market deposit accounts (MMDAs) $187,822
    Other savings deposits (excluding MMDAs) $63,086
    Total time deposits $146,781
    Total time and savings deposits $456,555
    Noninterest-bearing deposits $229,487
    Interest-bearing deposits $456,852
    Retail deposits $612,433
    IRAs and Keogh plan accounts $13,191
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $780,188
    Cash & Balances due from depository institutions $52,577
    Interest-bearing balances $45,668
    Total securities $217,032
    Federal funds sold & reverse repurchase $18,000
    Net loans and leases $476,779
    Loan and leases loss allowance $5,910
    Trading account assets $0
    Bank premises and fixed assets $9,612
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,188

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $780,188
    Total Liabilities $688,934
    Total deposits $686,339
    Interest-bearing deposits $456,852
    Deposits held in domestic offices $686,339
    % insured (estimated) $64
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,595

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $476,779
    Loan and leases loss allowance $5,910
    Total loans and leases (domestic) $482,689
    All real estate loans $382,872
    Real estate loans in domestic offices $382,872
    Construction and development loans $55,583
    Residential 1-4 family construction $3,044
    Other construction, all land development and other land $52,539
    Loans secured by nonfarm nonresidential properties $225,068
    Nonfarm nonresidential secured by owner-occupied properties $105,198
    Commercial real estate & other non-farm, non-residential $119,870
    Multifamily residential real estate $4,501
    1-4 family residential loans $86,581
    Farmland loans $11,139
    Loans held in foreign offices $0
    Farm loans $1,090
    Commercial and industrial loans $87,518
    To non-U.S. addressees $0
    Loans to individuals $10,574
    Credit card loans $0
    Related Plans $46
    Consumer Auto Loans $1,231
    Other loans to individuals $9,297
    All other loans & leases $635
    Loans to foreign governments and official institutions $0
    Other loans $635
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,043
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $177
    Non 1-4 family restructured loans & leases $177
    Total loans and leases (foreign) $0

    HomeTown Bank had $476,779,000 of loans outstanding in 2020. $382,872,000 of loans were in real estate loans. $55,583,000 of loans were in development loans. $4,501,000 of loans were in multifamily mortgage loans. $86,581,000 of loans were in 1-4 family mortgage loans. $1,090,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,231,000 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 $84,155 $270,595
    Nonfarm, nonresidential loans - <$100k 37 $1,948 $52,649
    Nonfarm, nonresidential loans - $100-250k 107 $14,071 $131,505
    Nonfarm, nonresidential loans - $250k-1MM 167 $68,136 $408,000
    Commercial & Industrial, US addressed loans - <$1MM 953 $55,201 $57,923
    Commercial & Industrial, US addressed loans - <$100k 753 $19,628 $26,066
    Commercial & Industrial, US addressed loans - $100-250k 136 $18,132 $133,324
    Commercial & Industrial, US addressed loans - $250k-1MM 64 $17,441 $272,516
    Farmland loans - <$1MM 6 $757 $126,167
    Farmland loans - <$100k 2 $86 $43,000
    Farmland loans - $100-250k 3 $334 $111,333
    Farmland loans - $250k-1MM 1 $337 $337,000
    Agriculture operations loans - <$1MM 1 $91 $91,000
    Agriculture operations loans - $100-250k 1 $91 $91,000