Featured Savings Rates
Featured Accounts

Independence Bank (RI)

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.50%5-year CD60 Month CD
0.50%1-year CD11 Month CD
0.50%SavingsPersonal Savings

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

Independence Bank (RI) is headquartered in East Greenwich and is the 9th largest bank in the state of Rhode Island. It is also the 5,682nd largest bank in the nation. It was established in 2003 and as of June of 2016, 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 C+ health rating.

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Health
C+
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 Established2003
Employees21
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD4.1%
Return on Equity - YTD20.04%
Annual Interest Income$1.2MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$38.4MM$38.7MM
LoansQ2 2016vs Q2 2015$27.4MM$25.5MM
DepositsQ2 2016vs Q2 2015$28.5MM$29.9MM
Equity CapitalQ2 2016vs Q2 2015$8.3MM$7.2MM
Loan Loss AllowanceQ2 2016vs Q2 2015$2.7MM$2.0MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$1.5MM$1.7MM
Real Estate OwnedQ2 2016vs Q2 2015$462.00K$588.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%--Personal Checking
0.25%--Business Checking

Independence Bank (RI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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 Bank1370 South County TrailEast Greenwich, RI 02818