Independent Financial

Reviews (7)

Best Customer Service

We've had many bank accounts over the years, and Independent Bank (Lakeway branch) has given us the best customer service we have ever received. The staff are pleasant and go above and beyond to make sure their customers needs are met. The most recent example: after we moved and we wanted to close a CD, because we couldn't go in to the branch they sent the documents to us by express mail service and enclosed a return envelope to make things as easy as possible for us. Their rates overall are not the most competitive, but from time to time they offer a very competitive promotion. As far as tech goes, they may not have the most advanced web site and you may not find it convenient to deal with them from other parts of the country, but if you live near a branch, and if you appreciate the "human touch" and excellent customer service, definitely check them out!

Good Experience

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I've been with the Independent Bank branch in Mckinney for about 3 years and have always had positive experiences with them. I've been inside the bank about half a dozen times and have used their ATM about the same number of times.

Horrible Bank!

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We had our land loan with them for over 7 years, in good standing, paid early. TX Dot was forcing us to sell 8000+ square FEET off the front of our property. Independent Bank first told us they did not want any of that money. Then they found out how much was being paid and they told us we had to pay off the loan! We owed ONLY about fifty four thousand left on the note. Our land is valued right under two million and we were "forced" to pay them off! They lied! Then they had the audacity to NOT disclose they were running our credit reports, this was done WITHOUT ANY notice or authorization! Explain WHY any bank would run a credit report on a loan that ALREADY EXISTED and in good standing! Fast forward it's been a month and a half since they have been PAID OFF and they have NOT released our deed! Email after email and they have taken no responsibility to get us the deed. I will just say this Paul R... in Denton worthless! Not much better is James P in Denton! These people has zero customer service skills! If you have a choice... find any other bank to do business with, they lie, they are lazy, they pass the buck, and as far as I am concerned unethical!

Direct Deposit Not Deposited

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My paycheck should have appeared in my account Saturday morning as it did for every other person I work with. Instead, Independent Bank held onto my money. Shame on you! We will be changing banks!

Poor Service/Customer Service

Have been a long time customer even before it was purchased by Independent Bank. What a shame. Service is lacking, but more important, when you walk in a branch, the people working there all look like they dislike their jobs. Therefore; service is equivalent. They really don't want to help you and they made that very clear. If you want service, this is not the place to go.


Posted by: |

BEWARE! They changed the qualification criteria in Dec but didn't update the website until after the statement closed in January! When I called to complain they referred to a fine print at the very bottom of the Nov statement! Taking my money elsewhere.

Beware - This Bank Will Gouge You!

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My "free" checking account at Independent Bank (Little Elm, TX branch) suddenly developed monthly service charges totalling $11.00. The charges showed up on my September bank statement. When I inquired about the charges, I was told: "We mailed out a letter in June to all free checking account holders to inform them that service charges were being initiated". Further inquiry resulted in the revelation that Independent Bank offers yet another "free checking account", but I must come in and apply for the new account in person. Even if such a change were being initiated, why couldn't the bank have politely informed account holders in June that ANOTHER type of free account is available???? The simple answer is that this bank has taken this opportunity to extract funds from its account holders who either ignored their letter or, worse yet, never received it . I have no recollection and no record in my files of having received the letter supposedly mailed in June. I have closed my account at Independent Bank and will never do business with them again. Perhaps others can profit from my experience. (I have awarded one star to this bank due to the fact that it is not possible to award zero stars.)


Health Grade Components

FDIC Certificate #3076
Year Established1913
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.37%
Return on Equity - YTD2.55%
Annual Interest Income$871.7MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$19.03B$18.25B
LoansQ4 2023vs Q4 2022$14.58B$13.77B
DepositsQ4 2023vs Q4 2022$15.73B$15.13B
Equity CapitalQ4 2023vs Q4 2022$2.72B$2.7B
Loan Loss AllowanceQ4 2023vs Q4 2022$151.9MM$148.8MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$50.4MM$37.8MM
Real Estate OwnedQ4 2023vs Q4 2022$9.5MM$23.9MM
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Always verify rates and promotions with the bank or credit union. We are not Independent Financial; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Independent Financial Savings Account Rates

1.00%$50-Regular Savings
0.65%--Business Savings

Independent Financial Money Market Rates

4.25%*$500k*-Premier Money Market
OTHER TIERS: 1.00% Up to $25k | 3.75% $25k - $100k | 4.00% $50k - $500k
4.00%*$50k*-Money Market
OTHER TIERS: 1.00% Up to $25k | 3.75% $25k - $100k
4.00%*$25k*-Business High Yield Money Market - New Money
OTHER TIERS: 0.01% Up to $25k
2.50%*$10m*-Business Premier Money Market
OTHER TIERS: 0.65% Up to $25k | 0.75% $10k - $25k | 0.85% $25k - $100k | 0.90% $50k - $100k | 1.00% $100k - $250k | 1.25% $250k - $500k | 1.50% $500k - $1m | 2.00% $1m - $5m | 2.25% $5m - $10m
1.50%*$500k*-Business Money Market
OTHER TIERS: 0.65% Up to $25k | 0.75% $10k - $25k | 0.85% $25k - $100k | 0.90% $50k - $100k | 1.00% $100k - $250k | 1.25% $250k - $500k

Independent Financial Checking Account Rates

3.04%--IOLTA (TX)
3.04%--COLTAF (Colorado Lawyer Trust Account)
0.50%--Premier Checking
0.20%--Interest Checking

Independent Financial CD Rates

5.15%$1k-6 Month CD
5.15%$1k-Business 6 Month CD
5.00%$1k-11 Month CD Special
5.00%$1k-Business 11 Month CD Special
4.15%$1k-2 Year CD
4.15%$1k-Business 2 Year CD
0.85%$1k-5 Year CD
0.85%$1k-Business 5 Year CD
0.75%$1k-3 Year CD
0.75%$1k-Business 3 Year CD
0.25%$1k-1 Year CD
0.25%$1k-Business 1 Year CD
0.05%$1k-30 Day CD
0.05%$1k-90 Day CD
0.05%$1k-Business 30 Day CD
0.05%$1k-Business 90 Day CD

Independent Financial IRA Rates

0.75%$250-18 Month IRA CD
0.75%$250-5 Year IRA CD
0.65%$250-3 Year IRA CD
0.20%$250-1 Year IRA CD


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