Bank Independent in Sheffield, Alabama (AL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Bank Independent in Sheffield, Alabama (AL)
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Bank Independent - Overview

  • General
  • FDIC Certificate #: 16604
    Status: Active
    Federal Reserve ID: 539032
    Bank Holding Company (Regulatory Top Holder): Bancindependent Incorporated (RSSDID: 1082209, Location: Sheffield, AL)
    Date Established: August 02, 1947
    WWW: http://www.bibank.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 28 (Domestic: 28, Interstate: No)
    OTS Docket #: 9993
    FDIC's unique #: 10746
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: August 02, 1947
    Last Structure Change Effective Date: Febuary 24, 2011
    Last Structure Change Process Date: Febuary 24, 2011
    Last Data Update: Febuary 24, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 710 South Montgomery Avenue, Sheffield, AL 35660
    County: Colbert
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Shelby
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Florence, AL (#2650)
    Core Based Statistical Area (CBSA): Florence-Muscle Shoals, AL (#22520)
    CBSA Metro Statistical Area: Florence-Muscle Shoals, AL (#22520)
  • History of Changes
  • Change in Geographic Region/Area/Territory/Field Office
  • Financial Summary
  • Total assets: $1,041.1 mil
    Equity capital: $131.9 mil
    Deposits held in domestic offices: $871.4 mil
    Return on assets (ROA): 1.20% ($12.5 mil)
    Quarterly return on assets: 1.41% ($14.7 mil)
    Return on Equity (ROE): 9.67% ($12.8 mil)
    Quarterly return on equity: 11.00% ($14.5 mil)
    Net income: $12.2 mil
    Quarterly Net income: $3.6 mil
    Pretax return on assets: 1.73% ($18,010.6 mil)
    Quarterly Pretax return on assets: 2.09% ($21,758.4 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 446Total employees (full-time equivalent)
  • $1,041,073Total assets
  • $117,119Cash and due from depository institutions
  • $83,004Interest-bearing balances
  • $58,165Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $757,675Net loans & leases
  • $9,712Loan loss allowance
  • $0Trading account assets
  • $33,076Bank premises and fixed assets
  • $1,607Other real estate owned
  • $25,781Goodwill and other intangibles
  • $1,041,073Life insurance assets
  • $47,650All other assets
  • $909,177Total liabilities and capital
  • $871,417Total liabilities
  • $810,987Total deposits
  • $871,417Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 12413.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,000Trading liabilities
  • $0Other borrowed funds
  • $20,347Subordinated debt
  • $131,896All other liabilities
  • $131,896Total equity capital
  • $131,896Total bank equity capital
  • $0Perpetual preferred stock
  • $592Common stock
  • $102,423Surplus
  • $28,881Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $4,246Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $10,225Income earned, not collected on loans
  • $0Earning assets
  • $3,155Long-term assets (5+ years)
  • $898,844Average Assets, year-to-date
  • $197,990Average Assets, quarterly
  • $1,017,254Volatile liabilities
  • $1,035,868Insider loans
  • $804,780FHLB advances
  • $1,014,896Loans and leases held for sale
  • $23,632Unused loan commitments
  • $23,632Tier 1 (core) risk-based capital
  • $111,240Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $154,890Restructured Loans and leases
  • $2,881Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $63,623Total interest income
  • $6,197Total interest expense
  • $57,426Net interest income
  • $4,400Provision for loan and lease losses
  • $11,115Total noninterest income
  • $0Fiduciary activities
  • $6,593Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,522Additional noninterest income
  • $46,893Total noninterest expense
  • $28,844Salaries and employee benefits
  • $5,871Premises and equipment expense
  • $12,178Additional noninterest expense
  • $17,248Pre-tax net operating income
  • $319Securities gains (losses)
  • $5,352Applicable income taxes
  • $12,215Income before extraordinary items
  • $0Extraordinary gains - net
  • $12,215Net income attributable to bank
  • $0Net charge-offs
  • $12,215Cash dividends
  • $5,080Sale, conversion, retirement of capital stock, net
  • $7,222Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.20%Yield on earning assets
  • 0.70%Cost of funding earning assets
  • 6.50%Net interest margin
  • 1.26%Noninterest income to earning assets
  • 5.31%Noninterest expense to earning assets
  • 1.18%Net operating income to assets
  • 1.20%Return on assets (ROA)
  • 1.73%Pretax return on assets
  • 9.67%Return on equity (ROE)
  • 3.95%Retained earnings to average equity (YTD only)
  • 0.67%Net charge-offs to loans
  • 86.61%Credit loss provision to net charge-offs
  • 4.26%Efficiency ratio
  • 66,890Assets per employee
  • 2.33%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 59.12%Loss allowance to loans
  • 1.27%Loss allowance to noncurrent loans
  • 94.98%Noncurrent assets plus other real estate owned to assets
  • 1.15%Noncurrent loans to loans
  • 1.33%Net loans and leases to deposits
  • 86.95%Net loans and leases to core deposits
  • 89.45%Equity capital to assets
  • 12.67%Core capital (leverage) ratio
  • 10.96%Tier 1 risk-based capital ratio
  • 13.82%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $1,017,254Average earning assets
  • $126,370Average equity
  • $883,627Average loans

List of branches

  • 28 Alabama Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    010746Bank Independent710 South Montgomery Avenue, Sheffield, AL 35660August 02, 1947Full Service Brick and Mortar
    1238439Leighton Branch337 Highway 101, Leighton, AL 35646September 01, 1966Full Service Brick and Mortar
    2238440Southgate Mall Branch126 Southgate Mall Shopping Center, Muscle Shoals, AL 35660August 05, 1968Limited Service Facility
    3238441Tuscumbia Branch119 North Main Street, Tuscumbia, AL 35674March 10, 1975Full Service Brick and Mortar
    4238442Jackson Place Branch729 East Second Street, Sheffield, AL 35660March 20, 1978Full Service Brick and Mortar
    515204Florence Branch210 South Pine Street, Florence, AL 35630March 04, 1975Full Service Brick and Mortar
    6238443Cox Creek Branch863 Cox Creek Parkway, Florence, AL 35630May 15, 1983Full Service Brick and Mortar
    7238444Cherokee Branch8260 Hwy 72 West, Cherokee, AL 35616November 14, 1983Full Service Brick and Mortar
    8238445Darby Place Branch1840 Darby Drive, Florence, AL 35630June 09, 1983Full Service Brick and Mortar
    9238446Florence Square Branch2870 Florence Boulevard, Florence, AL 35630June 06, 1991Full Service Brick and Mortar
    10357392Killen Branch1081 Highway 72, Florence, AL 35630August 15, 1999Full Service Brick and Mortar
    11365018Muscle Shoals1109 East Avalon Avenue, Muscle Shoals, AL 35661July 08, 2002Full Service Brick and Mortar
    13274597Bank Street Branch102 Bank Street, Rogersville, AL 35652January 01, 1934Full Service Brick and Mortar
    189332Russellville Downtown Branch101 North Jackson Avenue, Russellville, AL 35653October 01, 1920Full Service Brick and Mortar
    19232398Village Square Branch13566 Highway 43 South, Russellville, AL 35653September 10, 1979Full Service Brick and Mortar
    206137Moulton Branch720 Seminary Street, Moulton, AL 35650January 01, 1905Full Service Brick and Mortar
    2116922Athens Branch101 South Clinton Street, Athens, AL 35611March 01, 1983Full Service Brick and Mortar
    2215885Hartselle Branch902 U.S. Highway 31, North, Hartselle, AL 35640November 17, 1978Full Service Brick and Mortar
    23248448Lexington Branch11250 Highway 101, Lexington, AL 35648March 03, 1987Full Service Brick and Mortar
    2413270Decatur Beltline Branch1425 Beltline Road Sw, Decatur, AL 35603August 02, 1965Full Service Brick and Mortar
    25220627Red Bay Main Branch117 4th Avenue Southeast, Red Bay, AL 35582April 02, 1990Full Service Brick and Mortar
    26220661Decatur Main Branch102 Second Avenue Southeast, Decatur, AL 35601December 16, 1997Full Service Brick and Mortar
    27451962East Hicks Boulevard Branch304 East Doctor Hicks Boulevard, Florence, AL 35630June 05, 2006Limited Service Loan Production
    28475969Athens East Branch22015 Highway 72 East, Athens, AL 35613May 12, 2008Full Service Brick and Mortar
    291151Market Street Branch118 South Market Street, Moulton, AL 35650January 01, 1912Full Service Brick and Mortar
    30190050Courtland Branch360 Alabama Street, Courtland, AL 35618September 28, 1963Full Service Brick and Mortar
    31190051East Lawrence Branch22899 Al Highway 24, Moulton, AL 35650December 15, 1978Full Service Brick and Mortar
    35492701Decatur Crossings Branch2606 Hwy 31, Decatur, AL 35603December 15, 2008Full Service Brick and Mortar

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