Independence Bank (CA)

Independence Bank (CA) Locations
4525 Macarthur Boulevard
Newport Beach, CA 92660
888-414-0500
www.independence-bank.net

FDIC


Independence Bank (CA) is headquartered in Newport Beach and is the 119st largest bank in the state of California. It is also the 2,188th largest bank in the nation. It was established in 2004 and as of December of 2012, it had grown to 52 employees at 4 locations. Independence Bank (CA) has a 4-star health rating.



See Rates for: Checking | Savings | Money Market | CD | IRA

Independence Bank (CA) Checking Account Rates

ApyMinMaxProduct
0.15%--Prime Plus 55 Checking
0.10%--Interest Checking
0.10%--Business Interest Checking

Independence Bank (CA) Savings Account Rates

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0.15%--Independence Savings
0.15%--Kids' Freedom Savings

Independence Bank (CA) Money Market Rates

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0.45%$75k-Independence Money Market
0.45%$75k-Business Independence Money Market

Independence Bank (CA) CD Rates

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1.10%$1k-60 Month CD
0.90%$1k-48 Month CD
0.80%$1k-36 Month CD
0.65%$1k-24 Month CD
0.50%$1k-18 Month CD
0.45%$1k-9 Month CD
0.45%$1k-12 Month CD
0.35%$1k-6 Month CD
0.30%$1k-6 Month Liquid CD
0.20%$1k-7-89 Day CD
0.20%$1k-3 Month CD

Independence Bank (CA) IRA Rates

ApyMinMaxProduct
1.10%$1k-60 Month IRA CD
1.10%$1k-60 Month Roth IRA CD
0.90%$1k-48 Month IRA CD
0.90%$1k-48 Month Roth IRA CD
0.80%$1k-36 Month IRA CD
0.80%$1k-36 Month Roth IRA CD
0.65%$1k-24 Month IRA CD
0.65%$1k-24 Month Roth IRA CD
0.45%$1k-12 Month IRA CD
0.45%$1k-12 Month Roth IRA CD

Rates updated: 5/21/2013

Data for Q4 2012


Institution Statistics


Independence Bank
FDIC Certificate #57688
BankRate ReportView
Year Established2004
Employees52
Primary RegulatorFDIC

Assets and Liabilities

Assets$299.18 million
Loans$209.75 million
Deposits$216.66 million
Equity Capital$39.93 million
Loan Loss Allowance$4.22 million
Unbacked Noncurrent Loans$7.24 million
Real Estate Owned$1.88 million

Historic Data - December 2011

Assets$294.19 million
Equity Capital$37.20 million
Loan Loss Allowance$4.70 million
Unbacked Noncurrent Loans$4.79 million
Real Estate Owned$2.92 million

Profit Margin - Quarterly

Net Interest Margin4.4%
Return on Assets0.51%
Return on Equity3.89%
Interest Income$14.32 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
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 December 31, 2012 Independence Bank (CA) had $9.12 million in non-current loans and owned real-estate with $44.16 million in equity and loan loss allowances on hand to cover it. This gives Independence Bank (CA) a Texas Ratio of 20.65% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Independence Bank (CA) held steady from 18.38% as of December 31, 2011 to 20.65% as of December 31, 2012, resulting in a negative change of 12.34%. This indicates that the balance sheet and financial strength for Independence Bank (CA) has held steady in recent periods.
Deposit Growth4
In the past year, Independence Bank (CA) has increased its total deposits by $7.94 million, resulting in 3.8% 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 Independence Bank (CA) has shown is above average.
Capitalization5
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. Independence Bank (CA) has $299.18 million in assets with $44.16 million in equity, resulting in a capitalization level of 14.76%, which is excellent.
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