Overview / Commentary
401-886-4600
1370 South County Trail
East Greenwich, RI 02818

Independence Bank (RI) is headquartered in East Greenwich and is the 8th largest bank in the state of Rhode Island. It is also the 4,702nd largest bank in the nation. It was established in 2003 and as of December of 2018, it had grown to 29 employees at 1 location. Independence Bank (RI)'s CD rates are 83% higher than the national average, and it has a B health rating.

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Health
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Independence Bank (RI) has a relatively low asset base.

Health Grade Components

Overall
FDIC Certificate #57379
Year Established2003
Employees29
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD9.59%
Return on Equity - YTD43.9%
Annual Interest Income$5.0MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$63.8MM$60.8MM
LoansQ4 2018vs Q4 2017$48.8MM$35.0MM
DepositsQ4 2018vs Q4 2017$46.5MM$47.4MM
Equity CapitalQ4 2018vs Q4 2017$16.4MM$10.8MM
Loan Loss AllowanceQ4 2018vs Q4 2017$10.6MM$5.8MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$2.2MM$665.00K
Real Estate OwnedQ4 2018vs Q4 2017$171.00K$211.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Independence Bank (RI); 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.

Independence Bank (RI) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*$25k*-Personal Savings
OTHER TIERS: 0.50% $45 - $25k
0.75%*$25k*-Business Savings
OTHER TIERS: 0.50% $45 - $25k

Independence Bank (RI) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*$25k*-Personal Money Market
OTHER TIERS: 0.50% $45 - $25k
0.75%*$25k*-Business Money Market
OTHER TIERS: 0.50% $45 - $25k

Independence Bank (RI) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*$25k*-Personal Checking
OTHER TIERS: 0.50% $45 - $25k
0.75%*$25k*-Business Checking
OTHER TIERS: 0.50% $45 - $25k
0.75%*$25k*-IOLTA Checking
OTHER TIERS: 0.50% $45 - $25k

Independence Bank (RI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.10%$1k-24 Month CD
2.10%$1k-Business 24 Month CD
1.85%$1k-18 Month CD
1.85%$1k-Business 18 Month CD
1.75%$1k-60 Month CD
1.75%$1k-Business 60 Month CD
1.65%$1k-12 Month CD
1.65%$1k-Business 12 Month CD
1.50%$1k-48 Month CD
1.50%$1k-Business 48 Month CD
1.40%$1k-9 Month CD
1.40%$1k-Business 9 Month CD
1.25%$1k-36 Month CD
1.25%$1k-Business 36 Month CD
Locations


Independence Bank (RI) Locations
Independence Bank1370 South County TrailEast Greenwich, RI 02818

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