Hometown Bank Loans Up 11% In €˜08

BY Matthew L. Brown


Oxford-based Hometown Bank finished 2008 with net income of $2 million, $240 million in assets and a loan portfolio of $174 million.

The bank's asset total was 7 percent greater than the previous year and its loan portfolio grew by 11 percent over the same time.

The year's performance landed Hometown at No. 1 in Massachusetts and No. 17 out of 700 overall on SNL Thrift Investor's list of the top 100 mutual thrifts in the country.

Matthew S. Sosik, the bank's president and CEO, said Hometown avoided the economic pitfalls into which many other institutions fell by not making risky loans.

Hometown has branches in Oxford, Webster and Sturbridge.