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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 539th largest bank in the nation. It was established in 1947 and as of March of 2018, it had grown to 520 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 - YTD1.18%
Return on Equity - YTD12.48%
Annual Interest Income$20.4MM
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$1.50B$1.36B
LoansQ1 2018vs Q1 2017$1.20B$1.09B
DepositsQ1 2018vs Q1 2017$1.27B$1.16B
Equity CapitalQ1 2018vs Q1 2017$142.5MM$135.8MM
Loan Loss AllowanceQ1 2018vs Q1 2017$12.2MM$11.4MM
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$13.7MM$8.7MM
Real Estate OwnedQ1 2018vs Q1 2017$2.4MM$5.3MM
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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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