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Independence Bank (RI)

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.65%1-year CD12 Month CD
0.96% - National Average
2.10%2-year CD24 Month CD
2.50% - Ally Bank Raise Your Rate 2-Year CDAdvertisement
1.85%18-month CD18 Month CD
1.19% - National Average
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 9th largest bank in the state of Rhode Island. It is also the 4,930th largest bank in the nation. It was established in 2003 and as of March 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.

Related Posts

Independence Bank (RI) Ups Three Shorter-Term CD Rates - 10/13/2017

Independence Bank (RI) has raised the rates on its 12-month CD (1.65% APY), 18-month CD (1.85% APY), and 24-month CD (2.10% APY). Minimum deposit is $1k.

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Health
B+

Data as of Q1 2018

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 relatively low asset base.

Health Grade Components

Overall
FDIC Certificate #57379
Year Established2003
Employees29
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD8.05%
Return on Equity - YTD42.56%
Annual Interest Income$1.1MM
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$59.5MM$45.0MM
LoansQ1 2018vs Q1 2017$43.3MM$32.0MM
DepositsQ1 2018vs Q1 2017$45.9MM$34.0MM
Equity CapitalQ1 2018vs Q1 2017$12.0MM$9.1MM
Loan Loss AllowanceQ1 2018vs Q1 2017$7.1MM$2.9MM
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$1.5MM$1.4MM
Real Estate OwnedQ1 2018vs Q1 2017$207.00K$331.00K
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
0.75%*$25k*-Personal Savings
OTHER TIERS: 0.50% → Up to $25k
0.75%*$25k*-Business Savings Account
OTHER TIERS: 0.50% → Up to $25k

Independence Bank (RI) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*$25k*-Insured Money Market
OTHER TIERS: 0.50% → Up to $25k
0.75%*$25k*-Business Money Market Account
OTHER TIERS: 0.50% → Up to $25k

Independence Bank (RI) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%*$25k*-Personal Checking
OTHER TIERS: 0.50% → Up to $25k
0.75%*$25k*-Business Checking
OTHER TIERS: 0.50% → Up to $25k
0.75%*$25k*-IOLTA Checking
OTHER TIERS: 0.50% → $100 - $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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