Independence FSB

Independence FSB Locations
1301 9th Street N W
Washington, DC 20001
202-628-5500
www.ifsb.com
Founded in 1968, Independence saw the need for a financial institution that was committed to serving all segments of the population. Within a very short time, Independence received national recognition for its commitment to its founding principle: "The credit worthiness of each individual should be judged on merit, not race, sex, age or country of origin."

Today, they have made home ownership possible for more than 5,000 families, and have enabled more than 43,000 students to attend the colleges of their choice. They live up to their motto: "Together We Make It Happen!".



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

Independence FSB Checking Account Rates

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0.10%$250-NOW Checking

Independence FSB Savings Account Rates

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0.10%$50-Statement Savings

Independence FSB Money Market Rates

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0.25%$100k-Money Market Account
0.25%$100k-Commercial Money Market Account

Independence FSB CD Rates

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1.66%$1k-60 Month CD
1.36%$1k-48 Month CD
1.01%$1k-36 Month CD
0.90%$1k-30 Month CD
0.80%$1k-24 Month CD
0.70%$1k-18 Month CD
0.60%$1k-12 Month CD
0.30%$1k-6 Month CD
0.15%$1k-3 Month CD

Rates updated: 5/25/2012

Data for Q1 2012


Institution Statistics


Independence Federal Savings Bank
OTS #07173
FDIC Certificate #31555
BankRate ReportView
Year Established1968
Employees30
Primary RegulatorOCC

Assets and Liabilities

Assets$89.23 million
Loans$72.03 million
Deposits$75.11 million
Equity Capital$3.75 million
Loan Loss Allowance$1.83 million
Unbacked Noncurrent Loans$8.16 million
Real Estate Owned$1.16 million

Historic Data - March 2011

Assets$107.17 million
Equity Capital$4.84 million
Loan Loss Allowance$2.02 million
Unbacked Noncurrent Loans$9.12 million
Real Estate Owned$1.10 million

Profit Margin - Quarterly

Net Interest Margin3.4%
Return on Assets-1.53%
Return on Equity-35.79%
Interest Income$1.01 million

Institution Health


Overall Score:
1 out of 5
1
Texas Ratio1
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 FSB had $9.32 million in non-current loans and owned real-estate with $5.58 million in equity and loan loss allowances on hand to cover it. This gives Independence FSB a Texas Ratio of 166.91% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Independence FSB held steady from 149.05% as of March 31, 2011 to 166.91% as of March 31, 2012, resulting in a negative change of 11.98%. This indicates that the balance sheet and financial strength for Independence FSB has held steady in recent periods.
Deposit Growth1
In the past year, Independence FSB has decreased its total deposits by -$16.73 million, resulting in -18.22% 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 FSB has shown is poor.
Capitalization2
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 FSB has $89.23 million in assets with $5.58 million in equity, resulting in a capitalization level of 6.26%, which is below average.
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