Banks | Independence Bank

Independence Bank


Independence Bank is an FDIC insured institution headquartered at 4401 Rockside Rd, Independence, OH 44131.
It was founded in 1979 and has approximately $0 billion in assets. Customers can open an account at one of its 1 branches.

Deposit Rates - December 21, 2024

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 22925
Date Established 1979
Assets $ 182.67 million
Loans $ 108.93 million
Deposits $ 154.65 million
Capital $ 25.64 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 34.88 million
Interest-bearing balances $ 32.68 million
Total securities $ 31.26 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 108.93 million
Loan loss allowance $ 3.93 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 6.10 million
     Total Assets $ 157.03 million

LIABILITIES
Total deposits $ 154.65 million
      Interest-bearing deposits $ 116.97 million
      Deposits held in domestic offices $ 154.65 million
      % insured (estimated) 47.72%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.35 millionn
      Total Liabilities $ 157.03 million
      Shareholders’ Equity $ 25.64 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 5.10 million
Total Interest Expense $ 2.38 million
Net interest income $ 2.72 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.12 million
Total non interest expense $ 1.82 million
Pre-tax Net Operating Income $ 0.92 million

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