Bank Independent
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 3.11% | 5-year CD | 3.10% - Barclays 60 Month Online CD |
| 2.01% | 1-year CD | 2.75% - Barclays 12 Month Online CD |
| 0.05% | Savings | 0.26% - National Average |
Bank Independent is headquartered in Sheffield and is the 8th largest bank in the state of Alabama. It is also the 525th largest bank in the nation. It was established in 1947 and as of December of 2018, it had grown to 556 employees at 28 locations. Bank Independent's CD rates are 2X the national average, and it has an A health rating.
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A fantastic local bank
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!
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 16604 |
| Year Established | 1947 |
| Employees | 556 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.34% |
| Return on Equity - YTD | 14.07% |
| Annual Interest Income | $88.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $1.60B$1.49B |
| Loans | Q4 2018vs Q4 2017 | $1.24B$1.19B |
| Deposits | Q4 2018vs Q4 2017 | $1.35B$1.26B |
| Equity Capital | Q4 2018vs Q4 2017 | $155.4MM$140.2MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $14.1MM$12.1MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $12.2MM$14.4MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $1.7MM$2.6MM |
Always verify rates and promotions with the bank or credit union. We are not Bank Independent; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Bank Independent Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.25% | $2 | - | Christmas Club | |
| 0.05% | - | - | Regular Savings | |
| 0.05% | - | - | Business Savings | |
| 0.05% | - | - | Minor Savings |
Bank Independent Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.21%* | $100k* | - | Business Smart Money Market | ||
| OTHER TIERS: 0.11% → Up to $100k | |||||
| 0.13% | $1 | - | Premier Money Market | ||
Bank Independent Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.18%* | $100k* | - | Premier Checking | ||
| OTHER TIERS: 0.05% → Up to $10k | 0.07% → $10k - $25k | 0.10% → $25k - $50k | 0.15% → $50k - $100k | |||||
| 0.05% | - | - | Business Interest Checking | ||
Bank Independent CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.11% | $1k | - | 5 Year CD | |
| 3.04% | $1k | - | 4 Year CD | |
| 3.01% | $1k | - | 3 Year CD | |
| 2.41% | $1k | - | 2 Year CD | |
| 2.11% | $1k | - | 18 Month CD | |
| 2.01% | $1k | - | 6 Month CD | |
| 2.01% | $1k | - | 1 Year CD | |
| 0.91% | $1k | - | 3 Month CD | |
| 0.31% | $10k | - | 6 Month Premier Growth CD | |
| 0.31% | $10k | - | 12 Month Premier Growth CD | |
| 0.31% | $10k | - | 60 Month Premier Growth CD |
