i-bank is headquartered in Memphis and is the 17th largest bank in the state of Tennessee. It is also the 796th largest bank in the nation. It was established in 1998 and as of December of 2020, it had grown to 223 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 Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34728 |
| Year Established | 1998 |
| Employees | 223 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.26% |
| Return on Equity - YTD | 10.38% |
| Annual Interest Income | $52.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $1.21B$1.11B |
| Loans | Q4 2020vs Q4 2019 | $936.2MM$898.3MM |
| Deposits | Q4 2020vs Q4 2019 | $1.06B$915.6MM |
| Equity Capital | Q4 2020vs Q4 2019 | $145.8MM$136.0MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $10.7MM$8.6MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $5.0MM$5.3MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $7.2MM$7.0MM |