2. Bank Independent

Bank Independent


Overview / Commentary
www.bibank.com
256-386-5010
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 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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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!

2


Health
A

Data as of Q4 2018

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #16604
Year Established1947
Employees556
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.34%
Return on Equity - YTD14.07%
Annual Interest Income$88.5MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$1.60B$1.49B
LoansQ4 2018vs Q4 2017$1.24B$1.19B
DepositsQ4 2018vs Q4 2017$1.35B$1.26B
Equity CapitalQ4 2018vs Q4 2017$155.4MM$140.2MM
Loan Loss AllowanceQ4 2018vs Q4 2017$14.1MM$12.1MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$12.2MM$14.4MM
Real Estate OwnedQ4 2018vs Q4 2017$1.7MM$2.6MM
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
0.25%$2-Christmas Club
0.05%--Regular Savings
0.05%--Business Savings
0.05%--Minor Savings

Bank Independent Money Market Rates

APYMINMAXACCOUNT NAMEVIEW 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

APYMINMAXACCOUNT NAMEVIEW 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.51%$1k-5 Year CD
2.41%$1k-4 Year CD
2.31%$1k-3 Year CD
2.31%$1k-11-Month CD Special
2.11%$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
Locations

Availability



The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.