Bank Independent


Overview / Commentary
256-386-5000
710 South Montgomery Avenue
Sheffield, AL 35660

Bank Independent is headquartered in Sheffield and is the 7th largest bank in the state of Alabama. It is also the 502nd largest bank in the nation. It was established in 1947 and as of September of 2021, it had grown to 565 employees at 31 locations. Bank Independent has an A health rating.

Reviews (1)

A fantastic local bank

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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

Health Grade Components

Overall
FDIC Certificate #16604
Year Established1947
Employees565
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.95%
Return on Equity - YTD11.22%
Annual Interest Income$66.7MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$2.19B$1.92B
LoansQ3 2021vs Q3 2020$1.28B$1.33B
DepositsQ3 2021vs Q3 2020$1.88B$1.62B
Equity CapitalQ3 2021vs Q3 2020$182.3MM$173.6MM
Loan Loss AllowanceQ3 2021vs Q3 2020$16.8MM$17.0MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$13.2MM$21.3MM
Real Estate OwnedQ3 2021vs Q3 2020$855.00K$5.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.11%$2-Christmas Club
0.05%--Regular Savings
0.05%$1-Essential Student Savings

Bank Independent Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$2.5k-Business Smart Money Market
0.05%$1-Premier Money Market

Bank Independent Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Premier Checking

Bank Independent CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.41%$1k-4 Year CD
0.41%$1k-5 Year CD
0.31%$1k-2 Year CD
0.31%$1k-3 Year CD
0.21%$1k-1 Year CD
0.21%$1k-18 Month CD
0.11%$1k-3 Month CD
0.11%$1k-6 Month CD
0.05%$10k-6 Month Premier Growth CD
0.05%$10k-12 Month Premier Growth CD
0.05%$10k-60 Month Premier Growth CD
Locations

Availability



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