Hometown Bank Mortgage Rates, Fees & Info

Galveston, TX

LEI: 549300SHQJPJG8CN8153

Tax ID: 74-1541411

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 loans. Hometown Bank has a high proportion of conventional loans. Their top two markets are Houston and Beaumont .

    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

    98

    Origination Dollar Volume (All Markets)

    $36,930,000

    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) 96 $33,210,000 $345,938 $0 0.00%
    Outside of Metro Areas 1 $3,525,000 $3,525,000 $0 0.00%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    Hometown Bank's top markets include Houston and Beaumont among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 98 $36,930,000 $376,837 $0 0.00%

    For 2021, Hometown Bank's most frequently originated type of loan was Conventional, with 98 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 64 $31,100,000 $485,938 $0 0.00%
    Refi 21 $4,285,000 $204,048 $0 0.00%
    Home Improvement 12 $1,490,000 $124,167 $0 0.00%
    Other 1 $55,000 $55,000 $0 0.00%

    For 2021, Hometown Bank's most frequently cited loan purpose was Home Purchase, with 64 originations. The 2nd most popular reason was Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 98 $36,930,000 $376,837 $0 0.00%

    For 2021, Hometown Bank's most frequently cited loan duration was Other, with 98 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 28 $8,940,000 $319,286 $0 0.00%
    $100k-200k 27 $3,895,000 $144,259 $0 0.00%
    $400k-600k 15 $7,345,000 $489,667 $0 0.00%
    $100,000 or less 14 $840,000 $60,000 $0 0.00%
    $1MM+ 8 $11,520,000 $1,440,000 $0 0.00%
    $600k-1MM 6 $4,390,000 $731,667 $0 0.00%

    2021 saw Hometown Bank place emphasis on $200k-400k loans with 28 originations, totaling $8,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 22 $5,900,000 $268,182 $0 0.00%
    $250k+ 21 $13,005,000 $619,286 $0 0.00%
    $100k-150k 15 $4,105,000 $273,667 $0 0.00%
    $75k-100k 9 $1,315,000 $146,111 $0 0.00%
    $50k-75k 6 $730,000 $121,667 $0 0.00%
    $50k or less 3 $325,000 $108,333 $0 0.00%

    Hometown Bank lent most frequently to those with incomes in the $150k-250k range, with 22 originations. The second most popular income band? $250k+, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 98 $36,930,000 $376,837 $0 0.00%

    Hometown Bank lent most frequently to those with DTI ratios of Exempt%, with 98 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 55 $18,925,000 $344,091 $0 0.00%
    Not applicable 22 $11,550,000 $525,000 $0 0.00%
    Not provided 14 $5,260,000 $375,714 $0 0.00%
    Black 4 $760,000 $190,000 $0 0.00%
    Asian 2 $330,000 $165,000 $0 0.00%
    American Indian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.12%

    Hometown Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.43%

    Hometown Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 98 $36,930,000 $376,837

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    98 $36,930,000 $376,837

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    HomeTown Lenders, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    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 $45,773
    Hometown Bank, National Association 1406 West Main League City, TX 77573 Full Service B&M $64,407
    Hometown Bank, National Association 1801 45th Street Galveston, TX 77552 Full Service B&M $298,630
    Hometown Bank, National Association 2651 Pearland Parkway Pearland, TX 77581 Full Service B&M $63,605
    Hometown Bank, National Association 3211 Fm 528 Friendswood, TX 77546 Full Service B&M $105,122
    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 $170,525

    For 2021, Hometown Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,285
    Net interest income $25,103
    Total noninterest income $2,207
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $693
    Trading account gains and fees $0
    Additional Noninterest Income $1,514
    Pre-tax net operating income $11,352
    Securities gains (or losses, -) $20
    Income before extraordinary items $9,378
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,378
    Minority interest net income $0
    Net income $9,378
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,361

    Hometown Bank's gross interest income from loans was $27,285,000.
    Hometown Bank's net interest income from loans was $25,103,000.
    Hometown Bank's fee based income from loans was $693,000.
    Hometown Bank's net income from loans was $9,378,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,182
    Provision for credit losses $100
    Total noninterest expense $15,858
    Salaries and employee benefits $8,612
    Premises and equipment expense $1,685
    Additional noninterest expense $5,561
    Applicable income taxes $1,994
    Net charge-offs $4
    Cash dividends $1,913

    Hometown Bank's interest expense for loans was $2,182,000.
    Hometown Bank's payroll and benefits expense were $8,612,000.
    Hometown Bank's property, plant and equipment expenses $1,685,000.

    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 $815,712
    Deposits held in domestic offices $815,712
    Deposits by Individuals, partnerships, and corporations $787,603
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $28,108
    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 $363,251
    Demand deposits $283,399
    Nontransaction accounts $452,461
    Money market deposit accounts (MMDAs) $229,334
    Other savings deposits (excluding MMDAs) $82,327
    Total time deposits $140,801
    Total time and savings deposits $532,313
    Noninterest-bearing deposits $283,311
    Interest-bearing deposits $532,401
    Retail deposits $744,505
    IRAs and Keogh plan accounts $12,887
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $912,218
    Cash & Balances due from depository institutions $113,576
    Interest-bearing balances $104,706
    Total securities $335,608
    Federal funds sold & reverse repurchase $18,000
    Net loans and leases $429,839
    Loan and leases loss allowance $6,006
    Trading account assets $0
    Bank premises and fixed assets $9,147
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,048

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $912,218
    Total Liabilities $817,494
    Total deposits $815,712
    Interest-bearing deposits $532,401
    Deposits held in domestic offices $815,712
    % insured (estimated) $60
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,782

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $429,839
    Loan and leases loss allowance $6,006
    Total loans and leases (domestic) $435,845
    All real estate loans $394,573
    Real estate loans in domestic offices $394,573
    Construction and development loans $52,842
    Residential 1-4 family construction $6,085
    Other construction, all land development and other land $46,757
    Loans secured by nonfarm nonresidential properties $242,847
    Nonfarm nonresidential secured by owner-occupied properties $105,159
    Commercial real estate & other non-farm, non-residential $137,688
    Multifamily residential real estate $6,112
    1-4 family residential loans $79,060
    Farmland loans $13,712
    Loans held in foreign offices $0
    Farm loans $1,009
    Commercial and industrial loans $30,188
    To non-U.S. addressees $0
    Loans to individuals $9,595
    Credit card loans $0
    Related Plans $39
    Consumer Auto Loans $1,017
    Other loans to individuals $8,539
    All other loans & leases $480
    Loans to foreign governments and official institutions $0
    Other loans $480
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,429
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $199
    Non 1-4 family restructured loans & leases $199
    Total loans and leases (foreign) $0

    HomeTown Bank had $429,839,000 of loans outstanding in 2021. $394,573,000 of loans were in real estate loans. $52,842,000 of loans were in development loans. $6,112,000 of loans were in multifamily mortgage loans. $79,060,000 of loans were in 1-4 family mortgage loans. $1,009,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,017,000 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 285 $76,414 $268,119
    Nonfarm, nonresidential loans - <$100k 32 $1,509 $47,156
    Nonfarm, nonresidential loans - $100-250k 91 $11,266 $123,802
    Nonfarm, nonresidential loans - $250k-1MM 162 $63,639 $392,833
    Commercial & Industrial, US addressed loans - <$1MM 411 $19,807 $48,192
    Commercial & Industrial, US addressed loans - <$100k 318 $6,836 $21,497
    Commercial & Industrial, US addressed loans - $100-250k 55 $4,750 $86,364
    Commercial & Industrial, US addressed loans - $250k-1MM 38 $8,221 $216,342
    Farmland loans - <$1MM 6 $705 $117,500
    Farmland loans - <$100k 2 $79 $39,500
    Farmland loans - $100-250k 3 $310 $103,333
    Farmland loans - $250k-1MM 1 $316 $316,000
    Agriculture operations loans - <$1MM 1 $87 $87,000
    Agriculture operations loans - $100-250k 1 $87 $87,000