Southern Independent Bank

Southern Independent Bank is headquartered in Opp and is the 69^th largest bank in the state of Alabama. It is also the 3,529^th largest bank in the nation. It was established in 2006 and as of March of 2012, it had grown to 24 employees at 2 locations. Southern Independent Bank has a 5-star health rating.

Southern Independent Bank Routing Number: 062106573

Data for Q1 2012

Institution Statistics Southern Independent Bank FDIC Certificate # 58357 BankRate Report View Year Established 2006 Employees 24 Primary Regulator FDIC Assets and Liabilities Assets $170.20 million Loans $88.26 million Deposits $151.54 million Equity Capital $17.95 million Loan Loss Allowance $1.67 million Unbacked Noncurrent Loans $2.69 million Real Estate Owned $71,000 Historic Data - March 2011 Assets $155.95 million Equity Capital $12.81 million Loan Loss Allowance $1.50 million Unbacked Noncurrent Loans $2.47 million Real Estate Owned $319,000 Profit Margin - Quarterly Net Interest Margin 3.44% Return on Assets 1.05% Return on Equity 10.17% Interest Income $1.77 million

Institution Health Overall Score: 5 out of 5 Texas Ratio 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 Southern Independent Bank had $2.76 million in non-current loans and owned real-estate with $19.62 million in equity and loan loss allowances on hand to cover it. This gives Southern Independent Bank a Texas Ratio of 14.08% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Southern Independent Bank decreased slightly from 19.52% as of March 31, 2011 to 14.08% as of March 31, 2012, resulting in a positive change of 27.85%.This indicates that the balance sheet and financial strength for Southern Independent Bank has improved slightly in recent periods. Deposit Growth In the past year, Southern Independent Bank has increased its total deposits by $9 million, resulting in 6.31% 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 Southern Independent Bank has shown is excellent. Capitalization 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. Southern Independent Bank has $170.2 million in assets with $19.62 million in equity, resulting in a capitalization level of 11.53%, which is above average.

No reviews have been left for this bank yet. Be the first to review.