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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 538th largest bank in the nation. It was established in 1947 and as of December of 2017, it had grown to 527 employees at 27 locations. Bank Independent's CD rates are 46% higher than the national average, and it has a B+ 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 - YTD0.9%
Return on Equity - YTD9.11%
Annual Interest Income$75.2MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$1.49B$1.34B
LoansQ4 2017vs Q4 2016$1.19B$1.06B
DepositsQ4 2017vs Q4 2016$1.26B$1.15B
Equity CapitalQ4 2017vs Q4 2016$140.2MM$132.9MM
Loan Loss AllowanceQ4 2017vs Q4 2016$12.1MM$11.0MM
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$14.4MM$9.7MM
Real Estate OwnedQ4 2017vs Q4 2016$2.6MM$5.5MM
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Bank Independent CD Rates

2.01%$1k-23 Month CD Special
1.31%$1k-12 Month CD Special


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