Bank Independent
FDIC #16604
📍 Sheffield, Alabama
Bank Independent is a commercial bank, state charter and fed member, supervised by the federal reserve (frb). established in 08/02/1947. With assets of $2.54 Billion, it operates 34 domestic branches.
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Community Reinvestment Act (CRA) Rating
Latest Exam: March 13, 2023
What is CRA? The Community Reinvestment Act (CRA) is a federal law that encourages banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods.
Rating History
March 13, 2023
Satisfactory
July 20, 2020
Satisfactory
September 18, 2017
Satisfactory
💰 Financial Strength
Total Assets$2.54 Billion
Total Deposits$2.15 Billion
Equity Capital$204.47 Million
Net Income$18.78 Million
📈 Performance
ROA1.01%
ROE12.76%
Financial Terms:
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
📋 Corporate Structure
Established08/02/1947
FDIC Cert16604
Holding CoBancindependent Inc
Parent CertNA - Not listed as a child of a larger bank.
Last ChangeAugust 31, 2022
Foreign Offices0
SAIF InsuredNo
State CharteredYes
🕰️ Lobby Hours
Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:00 PM
SaturdayClosed
SundayClosed
📜 Institutional History
2008
Merger / Acquisition
Acquired: The Citizens Bank
1983
Name Change
Name became: Changed Institution Name To Bank Independent.
1983
Merger / Acquisition
Acquired: The Bank Of Florence
1975
Relocation
Moved HQ to: 710 South Montgomery Avenue, Sheffield, AL 35660.
1967
Name Change
Name became: Changed Institution Name To First Colbert Bank.