Bank Independent is headquartered in Sheffield and is the 8th largest bank in the state of Alabama. It is also the 531st largest bank in the nation. It was established in 1947 and as of June of 2018, it had grown to 528 employees at 27 locations. Bank Independent has an A health rating.
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!
|FDIC Certificate #||16604|
|Return on Assets - YTD||1.23%|
|Return on Equity - YTD||13.03%|
|Annual Interest Income||$41.8MM|
|Assets and Liabilities|
|Assets||Q2 2018vs Q2 2017||$1.54B$1.39B|
|Loans||Q2 2018vs Q2 2017||$1.24B$1.14B|
|Deposits||Q2 2018vs Q2 2017||$1.27B$1.18B|
|Equity Capital||Q2 2018vs Q2 2017||$145.8MM$139.6MM|
|Loan Loss Allowance||Q2 2018vs Q2 2017||$13.0MM$12.3MM|
|Unbacked Noncurrent Loans||Q2 2018vs Q2 2017||$14.0MM$11.6MM|
|Real Estate Owned||Q2 2018vs Q2 2017||$1.9MM$2.7MM|
Rates for Bank Independent are currently being reviewed.