Growth Report 2019

Home Savings Expands Treasury Management

By Gary Small, president and CEO

YOUNGSTOWN, Ohio – Investments made in the team and expansion of product offerings in 2017 paved a clear path for success at Home Savings Bank in 2018.

The year reflected the favorable economic and business environment experienced in each of the markets served. Home Savings experienced excellent loan and solid revenue growth, creating positive operating leverage.

In February, services were expanded to business and government entities with an enhanced suite of products and a new, dedicated team of treasury management specialists.

Also last year, staff additions created the largest and most experienced commercial banking team in the Mahoning Valley. This allows Home Savings to provide businesses of any size with the products, services and expertise to fulfill any banking need.

In March, the bank welcomed board member Zahid Afzal to the newly created position of executive vice president, chief operating officer. Afzal is leading strategic growth initiatives that include expanding digital capabilities and enhancing the customer online experience.

Residential lending continued to be a part of Home Savings’ growth and success in 2018. In March, we announced the opening of a mortgage loan office in Cincinnati.

Throughout the year, each market and business unit showed improvement and the client base expanded. Loan growth, outstanding credit performance and a well-managed expense base were strong points.

In the fall, the Home Savings Premier Wealth Management Group reached more than $775 million in assets under management.

As in past years, the Home Savings Charitable Foundation was very active in supporting the needs of local communities. The foundation made contributions to more than 300 local organizations throughout 2018.

Copyright 2019 The Business Journal, Youngstown, Ohio.