Independence Bank (RI)

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LOCATIONS

Popular Accounts at this Bank

APY	ACCOUNT TYPE	ACCOUNT NAME
1.50%	5-year CD	60 Month CD 2.25% - Ally Bank High Yield 5 Year CD
0.50%	1-year CD	11 Month CD 1.50% - Ally Bank No Penalty 11-Month CD
0.50%	Savings	Personal Savings 1.15% - CIT Bank Spring Savings

View all Independence Bank (RI) rates »

Overview / Commentary

www.independence-bank.com

401-886-4600

1370 South County Trail
East Greenwich, RI 02818

Independence Bank (RI) is headquartered in East Greenwich and is the 9^th largest bank in the state of Rhode Island. It is also the 5,402^nd largest bank in the nation. It was established in 2003 and as of March of 2017, it had grown to 21 employees at 1 location. Independence Bank (RI)'s money market rates are 14% higher than the national average, and it has a B health rating.

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Health

B

Data as of Q1 2017

Learn why bank health matters

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 low asset base.

Health Grade Components

Overall
FDIC Certificate #	57379
Year Established	2003
Employees	21
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	3.86%
Return on Equity - YTD	18.19%
Annual Interest Income	$653.00K

Assets and Liabilities
Assets	Q1 2017vs Q1 2016	$45.0MM$39.2MM
Loans	Q1 2017vs Q1 2016	$32.0MM$27.1MM
Deposits	Q1 2017vs Q1 2016	$34.0MM$29.8MM
Equity Capital	Q1 2017vs Q1 2016	$9.1MM$7.9MM
Loan Loss Allowance	Q1 2017vs Q1 2016	$2.9MM$2.5MM
Unbacked Noncurrent Loans	Q1 2017vs Q1 2016	$1.4MM$93.00K
Real Estate Owned	Q1 2017vs Q1 2016	$331.00K$462.00K

Rates

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Money Market
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* 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

APY	MIN	MAX	ACCOUNT NAME
0.50%^*	$50k^*	-	Personal Savings
OTHER TIERS: 0.25% → Up to $25k \| 0.35% → $25k - $50k
0.50%^*	$50k^*	-	Business Savings Account
OTHER TIERS: 0.25% → Up to $25k \| 0.35% → $25k - $50k

Independence Bank (RI) Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%^*	$50k^*	-	Insured Money Market
OTHER TIERS: 0.25% → Up to $25k \| 0.35% → $25k - $50k
0.50%^*	$50k^*	-	Business Money Market Account
OTHER TIERS: 0.25% → Up to $25k \| 0.35% → $25k - $50k

Independence Bank (RI) Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.25%	-	-	Personal Checking
0.25%	-	-	Business Checking

Independence Bank (RI) CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.50%	$1k	-	60 Month CD
1.50%	$1k	-	Business 60 Month CD
1.25%	$1k	-	48 Month CD
1.25%	$1k	-	Business 48 Month CD
1.00%	$1k	-	36 Month CD
1.00%	$1k	-	Business 36 Month CD
0.75%	$1k	-	24 Month CD
0.75%	$1k	-	Business 24 Month CD
0.50%	$1k	-	11 Month CD
0.50%	$1k	-	15 Month CD
0.50%	$1k	-	Business 11 Month CD
0.50%	$1k	-	Business 15 Month CD
0.40%	$1k	-	5 Month CD
0.40%	$1k	-	Business 5 Month CD

Locations

Independence Bank (RI) Locations
Independence Bank	1370 South County Trail	East Greenwich, RI 02818