Independence Bank

Independence Bank Locations
Fifth And Third Streets
Havre, MT 59501
www.ibyourbank.com

Independence Bank is headquartered in Havre and is the 9th largest bank in the state of Montana. It is also the 1,476th largest bank in the nation. It was established in 1973 and as of March of 2012, it had grown to 75 employees at 5 locations. Independence Bank has a 5-star health rating.

Independence Bank Routing Number: 092901340

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$150 Checking and Savings Account Bonus at Independence Bank in California - Local Only - 8/14/2009

Independence Bank is offering a $150 checking account promotion. Details from the bank's promo page include:$50 for opening any checking with a minimum initial deposit of $100 and making 5 transactions per month for 3 months including 1 ACH deposit or...

3.00% 15-Month CD & Other Competitive Rates at Independence Bank in Rhode Island - 4/3/2009

Update 4/18/09: The CD rates have fallen. Please check the bank's website for the latest rates.Independence Bank is offering several competitive CD rates. These include 2.50% APY for 5 months, 2.75% APY for 11 months, 3.00% APY for 15 months, 3.25% APY...

2.60% 12-Month Liquid CD at Independence Bank - California Only - 3/19/2009

Update: The 2.60% APY now only applies to the regular 12-month CD.Independence Bank is offering a 2.60% APY on its 12-month liquid CD. Minimum deposit is $1,000. The rate is listed at the bank's rate table as of 3/19/09.The 2.60% APY isn't the best rate...

4.05% 7-Month CD at Independence Bank in CA - 11/16/2008

Independence Bank is offering a special 7-month CD with a yield of 4.05% APY. The minimum deposit is $1,000. This special is listed in the bank's rate sheet as of 11/16/08.The bank also offers savings accounts and money market accounts with some decent...

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Data for Q1 2012


Institution Statistics


Independence Bank
FDIC Certificate #20989
BankRate ReportView
Year Established1973
Employees75
Primary RegulatorFDIC

Assets and Liabilities

Assets$452.06 million
Loans$328.12 million
Deposits$386.43 million
Equity Capital$53.70 million
Loan Loss Allowance$5.36 million
Unbacked Noncurrent Loans$5.75 million
Real Estate Owned$250,000

Historic Data - March 2011

Assets$426.15 million
Equity Capital$48.93 million
Loan Loss Allowance$4.92 million
Unbacked Noncurrent Loans$5.01 million
Real Estate Owned$4.82 million

Profit Margin - Quarterly

Net Interest Margin4.84%
Return on Assets2.07%
Return on Equity17.21%
Interest Income$5.84 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio4
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 Independence Bank had $6 million in non-current loans and owned real-estate with $59.06 million in equity and loan loss allowances on hand to cover it. This gives Independence Bank a Texas Ratio of 10.15% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Independence Bank decreased significantly from 18.08% as of March 31, 2011 to 10.15% as of March 31, 2012, resulting in a positive change of 43.85%.This indicates that the balance sheet and financial strength for Independence Bank has improved significantly in recent periods.
Deposit Growth5
In the past year, Independence Bank has increased its total deposits by $24 million, resulting in 6.62% 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 has shown is excellent.
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 has $452.06 million in assets with $59.06 million in equity, resulting in a capitalization level of 13.06%, which is excellent.
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