Overview / Commentary
710 South Montgomery Avenue
Sheffield, AL 35660

Bank Independent is headquartered in Sheffield and is the 8th largest bank in the state of Alabama. It is also the 531st largest bank in the nation. It was established in 1947 and as of June of 2018, it had grown to 528 employees at 27 locations. Bank Independent has an A health rating.

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Reviews (1)

A fantastic local bank

Posted by: Schedrop | Nov 11, 2017

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 - YTD1.23%
Return on Equity - YTD13.03%
Annual Interest Income$41.8MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$1.54B$1.39B
LoansQ2 2018vs Q2 2017$1.24B$1.14B
DepositsQ2 2018vs Q2 2017$1.27B$1.18B
Equity CapitalQ2 2018vs Q2 2017$145.8MM$139.6MM
Loan Loss AllowanceQ2 2018vs Q2 2017$13.0MM$12.3MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$14.0MM$11.6MM
Real Estate OwnedQ2 2018vs Q2 2017$1.9MM$2.7MM

Rates for Bank Independent are currently being reviewed.



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