Citizens Independent Bank

Citizens Independent Bank Locations
5000 West 36th Street
Saint Louis Park, MN 55416
952-926-6561
www.bankcib.com

Citizens Independent Bank is headquartered in Saint Louis Park and is the 42nd largest bank in the state of Minnesota. It is also the 2,127th largest bank in the nation. It was established in 1950 and as of March of 2012, it had grown to 67 employees at 4 locations. Citizens Independent Bank has a 3-star health rating.



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Citizens Independent Bank CD Rates

ApyMinMaxProduct
1.26%$500-60 Month CD Special
1.26%$500-Business 60 Month CD Special
0.95%$2,500-40 Month CD Special
0.95%$2,500-Business 40 Month CD Special
0.55%$2k-30 Month Trade-a-Rate CD
0.55%$2k-Business 30 Month Trade-a-Rate CD
0.30%$500-11 Month CD Special
0.30%$2k-Business 11 Month CD Special

Citizens Independent Bank IRA Rates

ApyMinMaxProduct
1.26%$500-60 Month Coverdell ESA
1.26%$500-60 Month IRA
1.26%$500-60 Month Roth IRA
0.95%$2,500-40 Month IRA
0.95%$2,500-40 Month Coverdell ESA
0.95%$2,500-40 Month Roth IRA
0.55%$2k-30 Month Trade-a-Rate IRA
0.55%$2k-30 Month Trade-a-Rate Coverdell ESA
0.55%$2k-30 Month Trade-a-Rate Roth IRA
0.35%$2k-15 Month Roth IRA
0.35%$2k-15 Month Coverdell ESA
0.35%$2k-15 Month IRA

Rates updated: 5/24/2012 * Not all products updated

Data for Q1 2012


Institution Statistics


Citizens Independent Bank
FDIC Certificate #16863
BankRate ReportView
Year Established1950
Employees67
Primary RegulatorFDIC

Assets and Liabilities

Assets$307.18 million
Loans$213.36 million
Deposits$252.07 million
Equity Capital$24.98 million
Loan Loss Allowance$7.12 million
Unbacked Noncurrent Loans$7.51 million
Real Estate Owned$9.14 million

Historic Data - March 2011

Assets$306.71 million
Equity Capital$25.60 million
Loan Loss Allowance$5.70 million
Unbacked Noncurrent Loans$12.76 million
Real Estate Owned$8.84 million

Profit Margin - Quarterly

Net Interest Margin3.91%
Return on Assets0.29%
Return on Equity3.62%
Interest Income$3.38 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Citizens Independent Bank had $16.65 million in non-current loans and owned real-estate with $32.11 million in equity and loan loss allowances on hand to cover it. This gives Citizens Independent Bank a Texas Ratio of 51.86% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Citizens Independent Bank decreased slightly from 68.98% as of March 31, 2011 to 51.86% as of March 31, 2012, resulting in a positive change of 24.83%.This indicates that the balance sheet and financial strength for Citizens Independent Bank has improved slightly in recent periods.
Deposit Growth4
In the past year, Citizens Independent Bank has increased its total deposits by $9.11 million, resulting in 3.75% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Citizens Independent Bank has shown is above average.
Capitalization4
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Citizens Independent Bank has $307.18 million in assets with $32.11 million in equity, resulting in a capitalization level of 10.45%, which is above average.
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