i-bank is headquartered in Memphis and is the 18th largest bank in the state of Tennessee. It is also the 836th largest bank in the nation. It was established in 1998 and as of March of 2021, it had grown to 224 employees at 12 locations. i-bank has an A health rating.
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Excellent Banking Experience
I-Bank is an outstanding bank for personal and business banking needs. The bank carries an A rating in regards to its financial strength and that is important. The employees are courteous and go that “extra mile”. I consider I-Bank the best bank in the Memphis, Tennessee area!
Hidden "Convenience" Fees
If I could give negative stars I would..... The Competitive rates are truly deceptive as they make up for it with all of their "convenience" fees. The customer service is hands down the worst I have ever dealt with in financing an auto loan. Paying off a loan early was a process that kept me on the phone ALL day long receiving a different payoff amount from every single person I talked to. I left 5 voice mail messages and 2 emails for managers to contact me, as they are conveniently never available. Not one call or email back. Stay away. Take your business somewhere else.
Data as of Q1 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34728 |
| Year Established | 1998 |
| Employees | 224 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.25% |
| Return on Equity - YTD | 10.31% |
| Annual Interest Income | $12.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $1.20B$1.11B |
| Loans | Q1 2021vs Q1 2020 | $908.1MM$928.3MM |
| Deposits | Q1 2021vs Q1 2020 | $1.04B$902.9MM |
| Equity Capital | Q1 2021vs Q1 2020 | $146.7MM$136.4MM |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $10.5MM$8.8MM |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $5.2MM$5.8MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $7.3MM$6.6MM |