HomeTown Bank, National Association, on April 19, 1999, to accommodate expansion away from Galveston Island. The Bank's deposit accounts are insured under the Federal Deposit Insurance Act up to applicable limits. The Bank is a member of the Federal Reserve System and the Federal Home Loan Bank.
The bank has a long history of consistent leadership. Michael J. Gaido, Sr. of the well-known Gaido’s restaurant and hotel family in Galveston served as a member of the Board from 1966 to 1993, and as Board Chairman. Jack Miller assumed the Chairman's duties in 1993 after the passing of Mr. Gaido. Mr. Miller owned and operated Schreiber and Miller Furniture in Galveston and La Marque for many years. Michael J. Gaido, Jr., son of Michael J. Gaido, Sr. currently serves as Chairman of the Board. Douglas Lee served as President of HomeTown Bank through 1988, just before Jimmy Rasmussen, who has been the bank’s President and CEO since 1989.
The Bank currently has two banking offices on Galveston Island, two in Friendswood, one in League City, one in Alvin, and one in Pearland, Texas. At December 31, 2020, the Bank had $783.1 million in assets, $482.7 million in loans and $686.3 million in deposits.
The Bank offers a broad range of banking services, including personal and business checking accounts and various types of interest-bearing deposit accounts, including interest-bearing checking, money market, savings, IRA, and time certificates of deposits. The following types of loans are offered: consumer installment (including automobile), commercial (including real estate construction), residential real estate, second mortgages, home improvement, home equity, and letters of credit.
Other services the Bank offers include safe deposit boxes, night depository facilities, credit card services, debit cards, notary services, wire transfer services, cashier checks, drive up facilities, 24 hour ATM banking services, telephone banking, direct deposit, commercial remote deposit capture, commercial positive pay services and internet banking with bill pay. The Bank is a member of regional ATM networks and offers worldwide access services. HomeTown Bank also offers the convenience of mobile banking featuring most of our internet banking and bill pay functions on the go.
At December 31, 2020, the Bank had a total of 115 full-time equivalent employees. The Bank takes great pride in the quality of service provided by their "HomeTown" family of directors, officers and employees, and rewards the employees with very competitive benefits, training, and an excellent work environment.
The equity securities of the Bank consist of one class of common stock, of which there were 382, 657.18 shares outstanding, held by 554 shareholders of record as shown on the Bank's records December 31, 2020. The Bank has paid a cash dividend for thirty-five consecutive years. The most recent cash dividend for 2020 was $4.85. The Bank stock is not traded on an exchange and all authorized stock has been issued. Total Equity Capital was $91, 254, 250.
At December 31, 2020, the Bank's capital exceeded all minimum regulatory requirements. The Bank's risk-based capital ratios, shown below as of December 31st have been computed in accordance with regulatory accounting policies.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154