HomeTown Bank

What HomeTown Bank does

HomeTown Bank is a privately held community bank founded in 1924 and headquartered in Minnesota, operating 11 branch locations across south-central Minnesota communities including Carver, Cleveland, Henderson, Jordan, Le Sueur, Olivia, Redwood Falls, Shakopee, St. Peter, Victoria, and Waconia. The bank is FDIC-insured (NMLS #403208, Routing Number 291270461) and serves three primary customer segments: personal/individual banking, small and mid-sized business banking, and agricultural banking. Its product portfolio spans checking, savings, CDs, IRAs, credit cards, mortgages, home equity and HELOC products, residential construction loans, auto/RV/boat loans, commercial real estate financing, equipment financing, SBA loans, lines of credit, specialty financing, and treasury management. The bank also distributes insurance products through affiliated agencies Community Insurance Brokerage (dba HomeTown Insurance Agency and Fuhr Insurance Agency) and offers investment products through partnerships.

The technology stack is conventional for a community bank: an online banking platform and native mobile apps for iOS and Android (Apple App Store ID 1212363242, Google Play package com.hometownbankmn.mobile) provide 24/7 account access, transfers, and mobile deposit. Customer communications are protected via Zix Corp encrypted email, and after-hours card fraud support is handled through Shazam. No proprietary AI, ML, or data analytics capabilities are disclosed; the bank's competitive positioning relies on local decision-making, in-person relationship banking, and community involvement through the HomeTown Heart program, supported by Star Tribune Top Workplace 2025 recognition.

Revenue is generated through traditional banking mechanics: net interest income from the lending portfolio (mortgage, commercial, agricultural, consumer), deposit account fees, credit card interest and fees, insurance commissions via affiliates, investment product fees, and treasury management service charges. Specific pricing is not publicly disclosed; rates and fees are negotiated in-branch based on customer relationships and market conditions. The bank is privately held with no parent company, public ticker, or disclosed institutional investors, and maintains wholly owned affiliated entities under common ownership.

Name

HomeTown Bank

Legal name

HomeTown Bank

Website

https://myht.bank

Company type

Private

Founded year

1924

Operating status

Operating

Headcount range

51–100 employees

Short description

HomeTown Bank is a privately held Minnesota community bank, founded in 1924, operating 11 branches that provide personal, business, and agricultural banking, plus affiliated insurance and investment products to consumers and SMBs across south-central Minnesota.

Ownership category

akta.pro rank

Headquarters

HQ city

Redwood Falls

HQ country

United States

HQ region

North America

Offices11 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 Loans: Traditional banking revenue generated from interest on mortgage loans, commercial loans, agricultural loans, auto/RV/boat loans, home equity lines of credit, and other lending products
2. Deposit Account Fees and Services: Revenue from checking account fees, savings account services, certificate of deposit products, and IRA accounts
3. Credit Card Services: Fees and interest from personal and business credit card products
4. Insurance Products: Revenue from insurance products offered through affiliated agencies including HomeTown Insurance Agency and Fuhr Insurance Agency
5. Investment Products: Revenue from investment products and financial planning services offered through partnerships
6. Treasury Management Services: Cash management, treasury management, and business banking services for commercial customers

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

HomeTown Bank is a community bank offering personal banking, business banking, and agricultural banking products across 11 Minnesota branches. Core products include checking and savings accounts, mortgages, home equity and consumer loans, commercial and SBA loans, agricultural financing, credit cards, treasury management, and complementary insurance and investment services offered through affiliated agencies and partners.

Product overview

HomeTown Bank is a community bank offering a unified portfolio of personal, business, and agricultural banking products. The core offerings include checking and savings accounts, various loan products (mortgages, home equity, commercial real estate, SBA loans, equipment financing), credit cards, and online/mobile banking platforms. The bank also provides insurance and investment services through affiliated companies. The bank operates 11 branch locations in Minnesota and emphasizes local decision-making.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Banking Comprehensive individual banking services including checking, savings, CDs, IRAs, credit cards, personal loans, mortgages, home equity lines of credit, residential construction loans, auto/RV/boat loans, and online/mobile banking access for individual consumers.
• Business Banking Commercial banking services including business checking and savings, business credit cards, commercial real estate loans, equipment and vehicle financing, lines of credit, SBA loans, specialty financing, and treasury management for small-to-mid-sized businesses.
• Agriculture Banking Specialized banking services for farmers and agricultural businesses in Minnesota, including farm operating loans, farm real estate financing, equipment financing, and livestock financing.
• Insurance Insurance products distributed through affiliated agencies HomeTown Insurance Agency and Fuhr Insurance Agency, including health, dental, life, and property/casualty coverage for personal and business customers.
• Investments Investment products and wealth management services offered through partnership arrangements to assist customers with portfolio management, retirement planning, and wealth accumulation.
• Online Banking Digital banking platform providing 24/7 access to accounts for fund transfers, balance checks, statement access, and transaction monitoring for personal and business customers.
• Mobile Banking App

Named customers1 record

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Zix CorpcoreTechnology or IntegrationZix Corp provides secure email encryption services for HomeTown Bank, enabling secure communication of confidential financial information and protecting customer data from fraud and identity theft. The Zix email encryption platform allows the bank to send encrypted messages to customers and receive encrypted communications.
• Community Insurance Brokerage, Inc. (HomeTown Insurance Agency)coreChannel Partner/ Reseller/ DistributorAffiliated insurance agency located at 1000 East Cook Street, Redwood Falls, MN 56283, offering insurance products to HomeTown Bank customers as part of the bank's financial services ecosystem.
• Community Insurance Brokerage, Inc. (Fuhr Insurance Agency)coreChannel Partner/ Reseller/ DistributorAffiliated insurance agency located at 722 E Bridge St., PO Box 218, Redwood Falls, MN 56283, providing insurance products and services to HomeTown Bank customers.
• HomeTown Solutions, Inc.minorOthersAffiliated company located at 1000 E Cook St., Redwood Falls, MN 56283, part of the HomeTown Bank family of companies.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Regional players

• ProGrowth Bank: Minnesota community bank serving agricultural and small-business customers with personal banking services; comparable niche focus on farm and SMB lending in similar rural Minnesota markets.
• Stearns Bank: Minnesota-based privately held bank with community banking, equipment finance, and specialty lending; comparable in regional community-bank heritage, though it operates with a more national specialty-finance footprint.
• Cornerstone State Bank: Minnesota community bank offering personal, business, and agricultural banking; closely comparable rural Minnesota community-bank profile, though smaller in branch count.
• First Western Bank & Trust: Upper Midwest community bank with personal, business, and agricultural banking services; comparable product mix and community-bank orientation, though primarily operating in North Dakota.
• Pine Country Bank: Small Minnesota community bank serving central Minnesota communities with personal and small-business banking; comparable scale and rural community-bank operating model.

Direct peers

• Bremer Bank: Minnesota-headquartered community bank with a comparable mix of personal, business, and agricultural lending plus wealth services across the Upper Midwest; directly competes with HomeTown Bank for the same SMB, farm, and consumer customers in overlapping Minnesota markets.
• Bell Bank: Mid-size privately held community bank offering personal, business, and agricultural banking with strong relationship-based service; comparable in product breadth and community-bank positioning, though operating from a larger North Dakota/Minnesota footprint.
• MidCountry Bank: Minnesota-focused community bank offering personal, business, and agricultural banking across small-town and suburban Minnesota; closely comparable branch-network strategy and customer segments to HomeTown Bank.

Broad incumbents

• Heartland Financial USA (HTLF): Multi-state community banking franchise with Minnesota community bank operations; overlaps with HomeTown Bank in personal and commercial banking while offering a much larger balance sheet and broader product set.
• Old National Bank: Large regional bank resulting from the merger of several Midwest community banks (including KleinBank, which previously operated in HomeTown Bank's Minnesota footprint); competes broadly across personal, business, and agricultural lending in the same Minnesota geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/HomeTownBankMN
• Facebookfacebook.com/HomeTownBankMN
• LinkedInlinkedin.com/company/hometownbankmn

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

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