Bank Independent

Overview / Commentary
710 South Montgomery Avenue
Sheffield, AL 35660

Bank Independent is headquartered in SHEFFIELD and is the 4th largest bank in the state of Alabama. It is also the 438th largest bank in the nation. It was established in 1947 and as of March of 2024, it had grown to 654 employees at 34 locations. Bank Independent's CD rates are 5X the national average, and it has an A health rating.

Reviews (1)

A fantastic local bank

Posted by: |

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 - YTD0.81%
Return on Equity - YTD10.06%
Annual Interest Income$39.6MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$2.72B$2.48B
LoansQ1 2024vs Q1 2023$1.79B$1.69B
DepositsQ1 2024vs Q1 2023$2.33B$2.06B
Equity CapitalQ1 2024vs Q1 2023$218.9MM$199.5MM
Loan Loss AllowanceQ1 2024vs Q1 2023$23.6MM$19.9MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$8.8MM$8.5MM
Real Estate OwnedQ1 2024vs Q1 2023$505K$5K
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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

0.11%$0-Christmas Club
0.05%$0-Regular Savings
0.05%$0-Minor Savings
0.05%$0-Essential Student Savings

Bank Independent Money Market Rates

0.05%$2.5k-Business Smart Money Market
0.05%$0-Premier Money Market

Bank Independent Checking Account Rates

0.05%$100-Premier Checking

Bank Independent CD Rates

4.56%$1k-6 Month CD
4.53%$1k-18 Month CD
4.51%$1k-1 Year CD
4.51%$1k-2 Year CD
3.01%$1k-4 Year CD
3.01%$1k-5 Year CD
2.71%$1k-3 Year CD
0.05%$10k-6 Month Premier Growth CD
0.05%$10k-12 Month Premier Growth CD
0.05%$10k-60 Month Premier Growth CD


Huntsville Area

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