Independence Bank (RI)

Overview / Commentary
1370 South County Trail
East Greenwich, RI 02818

Independence Bank (RI) is headquartered in EAST GREENWICH and is the 7th largest bank in the state of Rhode Island. It is also the 4,518th largest bank in the nation. It was established in 2003 and as of March of 2024, it had grown to 10 employees at 1 location. Independence Bank (RI) has a B+ health rating.


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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

FDIC Certificate #57379
Year Established2003
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-7.73%
Return on Equity - YTD-8.32%
Annual Interest Income$293K
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$21.1MM$34.9MM
LoansQ1 2024vs Q1 2023$0$0
DepositsQ1 2024vs Q1 2023$0$11.5MM
Equity CapitalQ1 2024vs Q1 2023$19.9MM$21.6MM
Loan Loss AllowanceQ1 2024vs Q1 2023$0$0
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$0$0
Real Estate OwnedQ1 2024vs Q1 2023$0$0

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Independence Bank (RI) Locations
Independence Bank1370 S County TrlEast Greenwich, RI 02818

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