Profile: Hometown Bancorp Inc (HTWC.PK)
Hometown Bancorp, Inc. is a federally chartered savings and loan holding company for Hometown Bank of the Hudson Valley. The Company is a mid-tier stock holding company. The Company's principal business is to acquire deposits from individuals and businesses in the communities surrounding its offices and to use these deposits to fund loans. The Company focuses on providing its products and services to individuals and small businesses. The Company is engaged in attracting retail deposits from the public and using those deposits together with funds generated from operations, principal repayments on loans and investments, loan sales and borrowed funds, for its lending and investing activities. The Company has branches in Montgomery, Monroe, and Otisville, New York. The Bank is a community-oriented savings institution whose business primarily consists of accepting deposits from customers within its market area and investing those funds principally in mortgage loans secured by one- to four-family residences, multi-family and commercial properties, land loans, commercial loans, consumer loans and investment securities. Its i-Banking service provides access to its customers' accounts to monitor activity, transfer funds and automatically pay bills. It also offers mobile banking, debit cards and credit cards.
The Bank's primary lending activity is the origination of residential mortgage loans, including home equity loans, which are collateralized by residences. The Bank offers Residential mortgage, construction, commercial real estate, land, commercial and home equity loans and credit lines. The Bank's total loans amount to approximately $4.682 million.
The Bank classifies its securities as available for sale and held to maturity. The Bank's available for sale securities include the United States Government agency securities, municipal securities and residential mortgage-backed securities. The Bank's held to maturity securities include residential mortgage-backed securities. The Bank's available for sale securities amount to approximately $2.56 million.
Sources of Funds
The Bank's primary source of funds is retail deposit accounts, which consist of non-interest-bearing demand accounts, interest-bearing demand accounts, money market accounts, savings accounts and certificates of deposit. The Bank's total deposits amount to approximately $103.345 million. The Bank utilizes borrowings from the Federal Home Loan Bank of New York to supplement its source of funds for loans and investments. The Bank has borrowings of approximately $5.8 million.
The Bank has three subsidiaries: Ever-Green Financial Services, Inc., Valley Services, Inc. and Balsam Realty Inc. Ever-Green Financial Services, Inc. holds an interest in Evergreen Title Agency, LP, Valley Services, Inc. and Balsam Realty Inc., which lease certain premises used by the Bank and hold other real estate owned.
Hometown Bancorp Inc
12 Main St
WALDEN NY 12586-1823