OVER 50 YEARS OF SERVICE

Home Loan has provided customers with competitive home equity loans, knowledgeable advice, and financial guidance since 1959, and we have the strength and longevity to continue meeting this goal into the future.

1959

The State of Rhode Island Department of Business Regulation grants a state charter under the name Home Loan & Investment Association (Home Loan)


1974

Founder John M. Murphy purchases the Home Loan bank charter and begins to build the bank as we know it today by reactivating the charter for mortgage lending purposes


1979

Home Loan Investment Bank opens its first headquarters in Providence, Rhode Island


1981

Home Loan begins lending to small businesses of all types and specializes in the Small Business Administration's SBA 7(a) loan program


1982

Residential lending expands from the Northeast region to the Mid-Atlantic region


1983

Assets exceed $60 million. Home Loan Investment Bank becomes the first mortgage originator to sell a pool of home equity loans to Freddie Mac and the second to Fannie Mae


1986

Assets exceed $100 million


1988

FDIC deposit insurance granted


1990

Assets exceed $200 million


1992

Home Loan completes its first loan securitization, and also reactivates its SBA Lending Program


1994

Assets exceed $250 million. Home Loan opens its new corporate headquarters at One Home Loan Plaza in Warwick, Rhode Island


1995

Home Loan converts its state charter to a federal charter and becomes a Federal Savings Bank under the new name Home Loan and Investment Bank, FSB (HLIB)


1996

HLIB opens state-of-the-art call center


1997

Residential lending expands to the West Coast


1998

HLIB receives SBA "Preferred Lender" status in Rhode Island, Massachusetts, New Hampshire and New York


1999

HLIB receives "Outstanding" rating for Community Reinvestment for the 10th consecutive year


2002

Commercial lending expands into Mid-Atlantic States. HLIB begins offering USDA loans


2003

HLIB surpasses $10 billion in residential mortgage originations


2004

HLIB is recognized as one of Freddie Mac's top 150 lenders in the country. HLIB creates a new brand for its commercial lending division, Ocean Capital, and begins marketing under the new brand


2008

HLIB became the 26th ranked SBA lender in the country. This leap marked the 6th largest volume increase in the country and a 104% increase in year-over-year SBA production (i.e. $40 million to $82 million)


2009

HLIB becomes a top 30 SBA 7(a) lender by origination volume nationwide and also a top 5 USDA Business and Industry lender by origination volume nationwide


2011

Top 100 SBA lender by volume. Started Title One - #3 in the country.


2012

Started Automobile Finance. Surpassed $10 million in the first twelve months of operation.


2017

Brian Murphy appointed Chairman of the Board and named Chief Executive Officer as of January 1, 2017.

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