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Overview / Commentary
4401 Rockside Road
Independence, OH 44131

Independence Bank (OH) is headquartered in Independence and is the 96th largest bank in the state of Ohio. It is also the 3,342nd largest bank in the nation. It was established in 1979 and as of December of 2013, it had grown to 23 employees at 1 location. Independence Bank (OH) has a A health rating.

Reviews (1)

Independence Bank

I love this bank. The manager was nice, the staff was amazing, and it's a family owned business. I recommend it deeply.



Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
B+

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, 2013 Independence Bank (OH) had $2.7 million in non-current loans and owned real-estate with $22.52 million in equity and loan loss allowances on hand to cover it. This gives Independence Bank (OH) a Texas Ratio of 12.01% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Independence Bank (OH) decreased dramatically from 18.07% as of December 31, 2012 to 12.01% as of December 31, 2013, resulting in a positive change of 33.55%.This indicates that the balance sheet and financial strength for Independence Bank (OH) has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Independence Bank (OH) has increased its total deposits by $16.74 million, resulting in 12.06% 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 (OH) has shown is excellent.

Capitalization

GRADE:
A+

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 (OH) has $175.26 million in assets with $22.52 million in equity, resulting in a capitalization level of 12.85%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #22925
Year Established1979
Employees23
Primary RegulatorFDIC
Assets and Liabilities
Assets$175.26 million
Loans$98.59 million
Deposits$155.56 million
Equity Capital$19.52 million
Loan Loss Allowance$3.00 million
Unbacked Noncurrent Loans$2.20 million
Real Estate Owned$500,000
Historic Data - December 2012
Assets$158.46 million
Equity Capital$19.43 million
Loan Loss Allowance$3.45 million
Unbacked Noncurrent Loans$2.20 million
Real Estate Owned$665,000
Profit Margin - Quarterly
Net Interest Margin3.59%
Return on Assets0.63%
Return on Equity5.44%
Interest Income$5.88 million
Rates

Sorry, we do not have rate data for Independence Bank (OH)

Locations


Independence Bank (OH) Locations
Independence Bank4401 Rockside RoadIndependence, OH 44131