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Bank History

Commencement of operations under the name of Bank of Galveston, National Association, occurred on June 23, 1966 upon the issuance of a national banking charter by the Comptroller of the Currency. The bank name was changed to 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 restaurant and hotel family in Galveston served as Chairman of the Board from 1966 to 1993. 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 from 1967 through 1988. Jimmy Rasmussen has served as President since January 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, 2015, the Bank had $543.1 million in assets, $322.8 million in loans and $485.9 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, travelers checks, money orders, 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.  Text banking is also a feature of our mobile services.

New for 2015 was the addition of Popmoney (Pay Other People) transfers.  Using your computer or mobile device you can send money to anyone that has a mobile phone or email address. Account to Account transfers were also introduced.  This service allows you to make transfers to or from your consumer bank accounts at other financial institutions. 

At December 31, 2015, the Bank had a total of 97 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 545 shareholders of record as shown on the Bank's records December 31, 2015. The Bank has paid a cash dividend for thirty-one consecutive years. The most recent cash dividend for 2015 was $3.40. The Bank stock is not traded on an exchange and all authorized stock has been issued. Total Equity Capital was $55,481,871.

At December 31, 2015, 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.

Adequately Capitalized
Ratios
Adequately Capitalized
Requirements
2014 2015

Tier I Leverage Ratio

4.0%

9.69%

9.92%

Tier I Risk-Based Capital

4.0%

15.63%

16.54%

Total Common Equity Capital

3.5%

N/A

16.54%

Total Risk-Based Capital

8.0%

16.88%

17.79%

The directors, officers, and employees of HomeTown Bank, National Association appreciate the tremendous support of their customers and look forward to creating many new relationships in their Galveston, Friendswood, League City, Alvin and Pearland markets.