‘Come Home’ program now available to community banks

‘Come Home’ program now available to community banks

Three Iowa banks have adopted the “Come Home” program developed by Hampton State Bank to attract residents to their area. Henry County Bank at Mount Pleasant, Premier Bank at Rock Rapids in Lyon County, and Liberty Trust & Savings Bank at Durant in Cedar County have each purchased customized version’s of the Hampton State Bank program.

Hampton State Bank of Hampton, Iowa, launched the Come Home to Franklin County program last November, offering people reduced rates on mortgages and car loans, and other benefits, if they move to Franklin County. The program targets people who grew up in the area but have moved elsewhere. The bank set aside $1 million for the program, which is scheduled to conclude at the end of this year. Hampton State Bank President Brad Davis said the program likely will be extended into 2007.

Davis said that in response to other banks that have expressed interest in setting up similar programs for their own communities, Hampton State Bank is now marketing a trademarked program to community banks outside the Franklin County area. The cost is $495 and Davis said Hampton State Bank will donate $250 of that to the Franklin County Development Association.

“Given the positive feedback and scores of inquiries we have received with Come Home to Franklin County, it just made sense that we offer this program to other rural Iowa banks,” Davis said. “Hampton State Bank wants growth and development at the local level and we want to help grow communities statewide.”

Copyright NFR Communications Inc Oct 15-Oct 31, 2006

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