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.