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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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 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 16604 |
| Year Established | 1947 |
| Employees | 527 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.9% |
| Return on Equity - YTD | 9.11% |
| Annual Interest Income | $75.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2017vs Q4 2016 | $1.49B$1.34B |
| Loans | Q4 2017vs Q4 2016 | $1.19B$1.06B |
| Deposits | Q4 2017vs Q4 2016 | $1.26B$1.15B |
| Equity Capital | Q4 2017vs Q4 2016 | $140.2MM$132.9MM |
| Loan Loss Allowance | Q4 2017vs Q4 2016 | $12.1MM$11.0MM |
| Unbacked Noncurrent Loans | Q4 2017vs Q4 2016 | $14.4MM$9.7MM |
| Real Estate Owned | Q4 2017vs Q4 2016 | $2.6MM$5.5MM |
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.
Bank Independent CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.01% | $1k | - | 23 Month CD Special | |
| 1.31% | $1k | - | 12 Month CD Special |
