Bank Independent

Overview / Commentary
710 South Montgomery Avenue
Sheffield, AL 35660

Bank Independent is headquartered in Sheffield and is the 6th largest bank in the state of Alabama. It is also the 501st largest bank in the nation. It was established in 1947 and as of December of 2019, it had grown to 609 employees at 29 locations. Bank Independent has a B+ health rating.

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Reviews (1)

A fantastic local bank

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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 - YTD1.31%
Return on Equity - YTD13.52%
Annual Interest Income$99.6MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.74B$1.60B
LoansQ4 2019vs Q4 2018$1.24B$1.24B
DepositsQ4 2019vs Q4 2018$1.43B$1.35B
Equity CapitalQ4 2019vs Q4 2018$165.7MM$155.4MM
Loan Loss AllowanceQ4 2019vs Q4 2018$13.8MM$14.1MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$16.3MM$12.2MM
Real Estate OwnedQ4 2019vs Q4 2018$781.00K$1.7MM
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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

0.25%$2-Christmas Club
0.05%--Regular Savings

Bank Independent Money Market Rates

0.11%--Business Smart Money Market
0.11%$1-Premier Money Market

Bank Independent Checking Account Rates

0.11%*$50k*-Premier Checking
OTHER TIERS: 0.05% Up to $10k | 0.07% $10k - $25k | 0.10% $25k - $50k

Bank Independent CD Rates

0.81%$1k-5 Year CD
0.61%$1k-4 Year CD
0.51%$1k-3 Year CD
0.41%$1k-2 Year CD
0.41%$1k-18 Month CD
0.31%$1k-1 Year 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
0.21%$1k-6 Month CD
0.11%$1k-3 Month CD


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