Houses, business buildings and cars on road illustration

Company History

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.