Hometown Bank

What Hometown Bank does

Hometown Bank is a privately held, FDIC-insured state-chartered savings bank headquartered at 142 N. Water St. in Kent, Ohio, operating three retail branches in Kent, Brimfield, and Ravenna across Portage County. Founded in 1898 as the Home Building and Loan Company, the institution has operated continuously through successive rebrandings (Home Savings and Loan Association in 1953, Home Savings Bank in 1988, and Hometown Bank in 2011) and a 1994 conversion to state savings bank charter, accumulating more than 125 years of community presence. The bank serves individuals, families, and small-to-medium local businesses with a full personal-banking suite (checking, savings, money market, CDs, IRAs, HSAs, prepaid cards), consumer lending (fixed and adjustable-rate mortgages, HELOCs, home equity loans, auto loans, personal loans, credit cards), commercial and small-business lending (SBA 7(a) up to $5 million, SBA 504, term loans, lines of credit, business credit cards), and merchant services (MasterCard, Visa, Discover, American Express acceptance, gift cards, loyalty programs).

The bank's technology stack centers on a mobile banking application available on iOS and Android, with the proprietary CardGuard fraud-protection feature providing real-time card on/off controls, transaction alerts, and spending limits by location, merchant, and dollar amount. Digital channels also include online banking, e-statements, Zelle P2P payments, telephone banking, and free ATM access through the MoneyPass network. Back-office credit card servicing is delivered through third-party integrations with Fiserv (SpendTrack for business credit cards) and First Data (personal credit cards), with CardValet offered as a complementary debit card security app. Underlying AI/data capability is limited to structured-data anomaly detection within CardGuard for fraud monitoring.

Hometown Bank's revenue model follows traditional community-banking mechanics: net interest income from lending activity (consumer mortgages and loans, auto loans, personal loans, commercial and SBA-backed term loans and lines of credit), deposit account fees and service charges (e.g., $10/month on Business Interest Checking below $5,000, dormant-account and overdraft fees), and revenue from money-market and CD investment products with tiered interest rates. Distribution is omnichannel: physical branches and drive-thrus provide face-to-face service, while mobile and online banking offer 24/7 self-service, mobile check deposit, and digital marketing outreach via TV commercials (June 2025), social media, and community event sponsorships such as the free concert series at Hometown Bank Plaza in Downtown Kent.

Name

Hometown Bank

Legal name

Hometown Bank

Website

https://ht.bank

Company type

Private

Founded year

1898

Operating status

Operating

Headcount range

1–10 employees

Short description

Hometown Bank is a privately held, FDIC-insured community bank headquartered in Kent, Ohio, operating three branches in Kent, Brimfield, and Ravenna and serving individuals and small-to-medium businesses across Portage County with personal banking, consumer and commercial lending, and digital banking services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Community banking services
• Personal and business lending
• Deposit accounts and CDs
• Mortgage and home equity loans
• SBA commercial lending

Headquarters

HQ city

Kent

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Primary revenue stream from interest on mortgages, personal loans, auto loans, home equity loans, business loans, SBA loans, and commercial lending products.
2. Deposit Account Fees and Service Charges: Monthly service charges on certain accounts (e.g., $10/month on Business Interest Checking with $5,000 minimum balance), dormant account fees, and overdraft fees.
3. Money Market and CD Investment Products: Revenue from offering certificates of deposit and money market accounts with tiered interest rates.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Hometown Bank is a community bank offering deposit products (checking, savings, money market, CDs, IRAs, HSAs), consumer lending (mortgages, home equity, auto loans, personal loans, credit cards), and commercial lending (SBA loans, term loans, lines of credit) to individuals and small-to-medium businesses in Portage County, Ohio. Services are delivered through three branch locations and digital channels including mobile and online banking with CardGuard fraud protection and Zelle P2P payments.

Product overview

Hometown Bank is a community bank serving Kent, Brimfield, and Ravenna, Ohio since 1898. The bank operates as a single-institution community bank offering a unified portfolio of deposit, lending, and digital banking products. The core product suite spans personal banking (checking, savings, CDs, IRAs, HSAs, money market accounts), consumer lending (mortgages, HELOCs, auto loans, personal loans, credit cards), business banking (business checking, savings, money market, CDs), commercial lending (SBA loans, term loans, lines of credit), and digital services (online banking, mobile banking with CardGuard fraud protection, Zelle P2P payments, e-statements, bill pay). Additional services include merchant services, custom gift card programs, loyalty programs, wire transfers, safe deposit boxes, and telephone banking. Special programs include the Ohio Homebuyer Plus (6% APY savings) and Welcome Home grants (up to $20,000).

Differentiator

Problem solved

Functional benefit

Products and services

• CardGuard Fraud monitoring and card security feature built into the mobile banking app that provides real-time transaction alerts, instant card on/off controls, and spending limits by location, merchant type, or dollar amount for consumer and business debit cardholders.
• Fixed Rate Mortgage Home loan with a constant interest rate throughout the loan term, providing predictable monthly payments and protection against interest rate increases for individual homebuyers.
• Adjustable Rate Mortgage (ARM) Variable-rate home loan with an initial fixed-rate period followed by periodic adjustments based on an index, typically with rate caps, designed for individual homebuyers.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity with a 10-year draw period followed by a 10-year repayment period, offering flexible access to funds with variable interest rates for homeowners.
• Second Mortgage Loan Lump-sum loan against home equity with a fixed interest rate and fixed monthly payments, typically with 5-15 year repayment terms, for homeowners.
• Auto Loans Financing for new, used, and classic cars as well as RVs, motorcycles, boats, and equipment, with rates and terms based on vehicle age for individual borrowers.
• Personal Loans Unsecured personal loans with no minimum amount, quick approval, no hidden fees, and no prepayment penalties for individual borrowers.
• Hometown Credit Card Personal credit card with worldwide acceptance, variable interest rate, zero fraud liability, and optional U-Choose rewards program for individual cardholders.
• SBA 7(a) Loans SBA-backed flexible financing up to $5 million for working capital, equipment, real estate, debt refinancing, or business acquisition for small businesses.
• SBA 504 Loans Long-term SBA financing for real estate and heavy equipment with below-market fixed rates, low down payments, and up to 25-year terms for small businesses.
• Business Line of Credit Revolving credit facility providing flexible access to working capital with competitive rates for managing cash flow and short-term needs of small businesses.
• Business Term Loans Customized loans for business equipment and real estate acquisition with competitive rates, flexible repayment options, and fast approval for small businesses.
• Business Interest Checking Business checking account with 1,000 free monthly transactions, competitive interest, and a $5,000 minimum balance requirement to avoid a $10 monthly service charge.
• Totally Free Business Checking No-minimum-balance business checking with no monthly service charges, free debit card, free online banking and bill pay, and free e-statements for small businesses.
• Business Savings Statement savings account for businesses with no monthly fees, free ATM access at Hometown Bank ATMs, and free monthly statements.
• Business Money Market Tiered interest-bearing business money market account with a $2,500 minimum, free monthly statements, and up to six transfers per month.
• Business CDs Certificate of deposit for businesses with a $500 minimum opening deposit, terms from 6 to 60 months, and higher fixed interest rates for term length.
• Personal Checking Personal deposit checking accounts offering direct deposit, bill payment, and overdraft protection for individual consumers.
• Statement Savings Personal savings account with competitive interest rates, no monthly fees, free ATM access, FDIC insurance, and free monthly statements for individual savers.
• Health Savings Accounts (HSA) Tax-advantaged personal checking account with a $50 minimum opening deposit, free checks, and interest earnings used to offset medical expenses.
• Individual Retirement Accounts (IRA) Tax-advantaged personal retirement savings with Money Market IRA or IRA CD options, offering tax-free or tax-deferred growth with terms from 6 to 60 months.
• Certificates of Deposit (CDs) Fixed-term personal savings with higher interest rates, terms from 6 to 60 months, and early withdrawal penalties for individual savers.
• Money Market Accounts Tiered interest-bearing personal money market account combining checking flexibility with savings earning potential, with a $2,500 minimum balance to avoid fees.
• Prepaid Cards Reloadable MasterCard debit cards and gift cards accepted anywhere MasterCard is accepted, with direct deposit support and online account access for individual consumers.
• Debit & ATM Cards Consumer debit cards with CardValet security controls and ATM-only access cards connected to savings or checking accounts for individual customers.
• Business Credit Cards Variable-rate business credit cards with flexible credit line access, user-specific limits, and zero fraud liability, managed via Fiserv SpendTrack for small businesses.
• Merchant Services Payment processing for businesses accepting MasterCard, Visa, Discover, and American Express, with competitive fees, free analysis, and flexible POS integration.
• Custom Gift Card Programs Closed-loop merchant-specific gift cards and custom-branded prepaid MasterCards accepted anywhere, for employee gifts, payroll, or customer rewards for businesses.
• Customer Loyalty Programs Custom-branded loyalty programs for businesses with POS integration, customizable collateral, and online tracking of points earned and redeemed.
• Business Debit Card Business debit card connected to a business checking account with no fees for signature or PIN transactions, ATM cash access, and zero fraud liability.
• Safe Deposit Boxes Secure storage for important belongings and documents, available at Kent, Brimfield, and Ravenna branch locations for personal and business customers.
• Wire Transfers Domestic and international wire transfer services with low fees and secure processing for personal and business customers.
• Telephone Banking Automated telephone banking service accessed at 1-855-673-9828 for account information and basic transactions, available 24/7.
• Direct Deposit Electronic deposit service for paychecks and government benefits using routing number 241271193 for personal and business customers.
• Online Banking Web-based account management platform for viewing account history, transferring funds, making loan payments, viewing check copies, and accessing bill pay and e-statements.
• Mobile Banking App Smartphone application providing account access, mobile check deposit, text banking, Zelle P2P payments, and access to CardGuard fraud protection tools for personal and business customers.
• Online Bill Pay Digital bill payment service accessed through online banking, enabling personal and business users to pay bills electronically and save on postage.
• E-Statements Electronic statement delivery service providing online access to current and past statements and check images for personal and business customers.
• Zelle Person-to-person payment service integrated into mobile and online banking enabling instant money transfers using recipient email or US mobile phone number.
• Ohio Homebuyer Plus Program Tax-advantaged savings program offering 6% APY for Ohio residents saving for home purchase, with a $100 minimum and $100,000 maximum balance, and funds required to be used within 5 years for home purchase.
• Welcome Home Program Federal Home Loan Bank grant program providing up to $20,000 for income-eligible homebuyers to use toward down payment and closing costs on a primary residence.
• U-Choose Rewards Points-based rewards program where users earn 1 point per $2 spent using the signature option on Hometown Bank debit or credit cards, redeemable for electronics, travel, and other rewards.

Quantifiable outcome

• Grants up to $20,000 available for eligible homebuyers through Welcome Home Program
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability2 records

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Federal Home Loan Bank of CincinnaticoreStrategic or Co-development PartnerHometown Bank is a member of the Federal Home Loan Bank of Cincinnati, enabling them to offer Welcome Home Program grants up to $20,000 for eligible homebuyers' down payments and closing costs. This partnership supports first-time and moderate-income homebuyers in the community.
• Ohio Treasurer's OfficecoreStrategic or Co-development PartnerPartnership to offer Ohio Homebuyer Plus savings program providing 6% APY tax-advantaged savings accounts for Ohio residents saving for home purchases. The Ohio Treasurer's office makes deposits at below-market rates to enable enhanced interest rates.
• U.S. Small Business Administration (SBA)coreStrategic or Co-development PartnerSBA Preferred Lender offering SBA 7(a) loans up to $5 million and SBA 504 loans for real estate and equipment financing. The SBA guarantee enables flexible loan terms for local small businesses.
• Kent Chamber of CommerceminorGTM or Marketing PartnerCommunity association membership supporting local business community engagement and economic development.
• Ravenna Chamber of CommerceminorGTM or Marketing PartnerCommunity association membership supporting local business community engagement in Ravenna area.
• American Bankers AssociationminorGTM or Marketing PartnerNational banking industry association membership providing resources and advocacy.
• Ohio Bankers LeagueminorGTM or Marketing PartnerState banking industry association membership for Ohio community banks.
• MasterCardcoreTechnology or IntegrationPayment network partnership enabling debit cards, credit cards, and prepaid cards accepted worldwide. Zero fraud liability protection for cardholders.
• VisacoreTechnology or IntegrationPayment network partnership through merchant services enabling businesses to accept Visa card payments.
• ZellecoreTechnology or IntegrationP2P payment integration allowing customers to send and receive money directly between bank accounts using email or mobile phone numbers, with funds typically available within minutes.

Scale indicators3 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Cortland Bank (Cortland Savings and Banking Company): Ohio-based community savings bank of similar size and product scope, historically offering deposit, mortgage, and consumer lending products to a comparable local customer base in northeast Ohio.
• Croghan Colonial Bank: Independently held Ohio community bank (Croghan Bancshares) operating from Fremont, OH with similar personal and business banking products to Hometown Bank, including mortgages and SBA lending.
• Middlefield Bank (Middlefield Banc Corp): Ohio community bank of comparable scale providing commercial and retail banking, mortgage origination, and SBA lending to local markets—similar community-focused operating model.
• Sutton Bank: Ohio-based community bank headquartered in Attica offering personal and business banking, mortgages, and consumer lending with a comparable community banking value proposition.
• First Federal Community Bank: Ohio-headquartered community savings bank offering deposit, lending, and SBA-style products to local retail and SMB customers—a direct comparable in size, charter type, and product mix.
• Old Fort Banking Company: Small Ohio community bank offering personal and commercial banking products in a regional footprint, with a similar privately-held, community-focused positioning.
• Heartland Bank (Heartland BancCorp): Independently held Ohio community bank (Whitehall, OH) offering consumer and commercial banking, mortgage, and SBA lending—comparable operating model and product suite.

Broad incumbents

• Park National Bank (Park National Corporation): Larger Ohio-headquartered bank holding company with a much broader branch network across Ohio and adjacent states, offering an overlapping suite of community and commercial banking products.
• WesBanco, Inc. Regional bank holding company with significant Ohio presence through community banking subsidiaries, offering similar deposit and lending products but at substantially larger scale.
• First Financial Bank (First Financial Bancorp): Cincinnati-based regional bank with a large Ohio branch network serving similar consumer and SMB segments; substantially larger scale than Hometown but overlapping community banking proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/142N.WaterSt
• LinkedInlinkedin.com/company/htbank
• Instagraminstagram.com/myhometownbank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hometown Bank