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Hometown
Bank, formerly The State Bank of St. Cloud, was the first acquisition
of Hometown Bancorp, Ltd., in March of 1998.
The
State Bank of St. Cloud, located in St. Cloud, Wisconsin, was formed
in 1907 by a group of local people interested in establishing a
community bank. After a long and distinguished history of providing
service to the community, it was sold to Hometown Bancorp, Ltd.
Hometown
Bancorp, Ltd., was also formed by a group of local investors and
for many of the same reasons as The State Bank of St. Cloud was
originally. At the time of its acquisition, the State Bank of St.
Cloud was a $21 million bank with branch locations in both St. Cloud
and Dundee, Wisconsin.
Key
historical points, by year, of Hometown Bank include the following:
1998
- Became
directly linked with the Federal Reserve for wire transfers and
payment settlement
- Developed
the Bank's first website at www.hometownbancorp.com
- Created
a new Credit Division with an updated credit policy, formalized
credit analysis, and a comprehensive credit quality scoring and
loan loss reserve system
1999
-
Established an off-site operations area in Fond du Lac, Wisconsin
- Opened
its first new branch location since acquisition in Fond du Lac,
Wisconsin, in October
- Obtained
a CLP or Certified Lender Status with the SBA (U. S. Small Business
Administration)
2000
- Completed
and successfully transitioned through the Y2K
- Opened
another branch location in Ripon, Wisconsin, in May
- Obtained
a PLP or Preferred Lender Status with the SBA (U. S. Small Business
Administration)
- Obtained
Fannie Mae and Freddie Mac designations in which to sell residential
real estate loans
- Surpassed
the $100 million level in serviced loans
2001
- Converted
to FISERV for its core processing system
- Opened
fifth location in Wautoma, Wisconsin, in June
2002
- Opened
sixth location in Appleton, Wisconsin, in October
2003
- Opened
a seventh location in downtown Fond du Lac, Wisconsin, in May
- Opened
an eighth location in Mayville, Wisconsin, in November
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