Bank Independent

Overview / Commentary
710 South Montgomery Avenue
Sheffield, AL 35660

Bank Independent is headquartered in SHEFFIELD and is the 4th largest bank in the state of Alabama. It is also the 460th largest bank in the nation. It was established in 1947 and as of September of 2023, it had grown to 649 employees at 32 locations. Bank Independent has an A health rating.

Reviews (1)

A fantastic local bank

Posted by: |

I have several types of accounts with Bank Independent. I have a checking account, a Safe Deposit box, and a CD at this bank, and I have honestly never had a problem with anything. Anytime there have been issues with my account, typically as a result of fraud from businesses and hackers, the representatives at the bank were friendly and helped resolve the issue as quickly as they could. Although there are some account fees, there are always ways around those, such as signing up for online banking and receiving e-statements. There are also several account options for pretty much anyone!


Health Grade Components

FDIC Certificate #16604
Year Established1947
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.01%
Return on Equity - YTD12.76%
Annual Interest Income$101.6MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$2.54B$2.27B
LoansQ3 2023vs Q3 2022$1.76B$1.53B
DepositsQ3 2023vs Q3 2022$2.15B$1.94B
Equity CapitalQ3 2023vs Q3 2022$204.5MM$172.9MM
Loan Loss AllowanceQ3 2023vs Q3 2022$21.7MM$16.7MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$8.1MM$6.7MM
Real Estate OwnedQ3 2023vs Q3 2022$369K$5K

Rates for Bank Independent are currently being reviewed.



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