Independence Bank in Havre, Montana (MT)
Overview, Financial Summary, Detailed Financial Reports, Branches

Independence Bank - Overview

  • General
  • FDIC Certificate #: 20989
    Status: Active
    Federal Reserve ID: 606653
    Bank Holding Company (Regulatory Top Holder): Montana Security, Inc. (RSSDID: 2351274, Location: Havre, MT)
    Date Established: March 12, 1973
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    OTS Docket #: 16131
    FDIC's unique #: 14494
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: March 12, 1973
    Last Structure Change Effective Date: July 01, 2010
    Last Structure Change Process Date: July 01, 2010
    Last Data Update: July 01, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 435 Third Street, Havre, MT 59501
    County: Hill
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Billings
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Havre, MT (#25660)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $433.8 mil
    Equity capital: $52.9 mil
    Deposits held in domestic offices: $370.5 mil
    Return on assets (ROA): 1.89% ($8.2 mil)
    Quarterly return on assets: 1.81% ($7.9 mil)
    Return on Equity (ROE): 15.97% ($8.5 mil)
    Quarterly return on equity: 15.20% ($8.1 mil)
    Net income: $8.1 mil
    Quarterly Net income: $2.0 mil
    Pretax return on assets: 3.01% ($13,058.1 mil)
    Quarterly Pretax return on assets: 2.81% ($12,190.5 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
  • 78Total employees (full-time equivalent)
  • $433,825Total assets
  • $30,256Cash and due from depository institutions
  • $27,258Interest-bearing balances
  • $64,969Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $324,574Net loans & leases
  • $5,357Loan loss allowance
  • $0Trading account assets
  • $3,491Bank premises and fixed assets
  • $250Other real estate owned
  • $1,824Goodwill and other intangibles
  • $433,825Life insurance assets
  • $8,461All other assets
  • $380,952Total liabilities and capital
  • $370,533Total liabilities
  • $299,912Total deposits
  • $370,533Interest-bearing deposits
  • $83Deposits held in domestic offices
  • 9167.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $1,252Subordinated debt
  • $52,873All other liabilities
  • $52,873Total equity capital
  • $52,873Total bank equity capital
  • $0Perpetual preferred stock
  • $1,300Common stock
  • $25,200Surplus
  • $26,373Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,570Income earned, not collected on loans
  • $0Earning assets
  • $4,809Long-term assets (5+ years)
  • $416,801Average Assets, year-to-date
  • $67,331Average Assets, quarterly
  • $425,953Volatile liabilities
  • $435,948Insider loans
  • $356,670FHLB advances
  • $443,409Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $50,657Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $56,232Restructured Loans and leases
  • $8,684Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $24,068Total interest income
  • $3,578Total interest expense
  • $20,490Net interest income
  • $615Provision for loan and lease losses
  • $1,201Total noninterest income
  • $0Fiduciary activities
  • $672Service charges on deposit accounts
  • $0Trading account gains & fees
  • $529Additional noninterest income
  • $8,245Total noninterest expense
  • $4,523Salaries and employee benefits
  • $749Premises and equipment expense
  • $2,973Additional noninterest expense
  • $12,831Pre-tax net operating income
  • $0Securities gains (losses)
  • $4,777Applicable income taxes
  • $8,054Income before extraordinary items
  • $0Extraordinary gains - net
  • $8,054Net income attributable to bank
  • $0Net charge-offs
  • $8,054Cash dividends
  • $139Sale, conversion, retirement of capital stock, net
  • $4,411Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.93%Yield on earning assets
  • 0.88%Cost of funding earning assets
  • 5.05%Net interest margin
  • 0.30%Noninterest income to earning assets
  • 2.03%Noninterest expense to earning assets
  • 1.89%Net operating income to assets
  • 1.89%Return on assets (ROA)
  • 3.01%Pretax return on assets
  • 15.97%Return on equity (ROE)
  • 7.22%Retained earnings to average equity (YTD only)
  • 0.04%Net charge-offs to loans
  • 442.45%Credit loss provision to net charge-offs
  • 96.73%Efficiency ratio
  • 38,011Assets per employee
  • 5.56%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 54.77%Loss allowance to loans
  • 1.62%Loss allowance to noncurrent loans
  • 117.22%Noncurrent assets plus other real estate owned to assets
  • 1.11%Noncurrent loans to loans
  • 1.39%Net loans and leases to deposits
  • 87.60%Net loans and leases to core deposits
  • 105.61%Equity capital to assets
  • 12.19%Core capital (leverage) ratio
  • 11.42%Tier 1 risk-based capital ratio
  • 14.20%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $425,953Average earning assets
  • $50,422Average equity
  • $405,745Average loans

List of branches

  • 5 Montana Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    014494Independence Bank435 Third Street, Havre, MT 59501March 12, 1973Full Service Brick and Mortar
    17061214 Second Avenue Branch214 Second Avenue W, Poplar, MT 59255January 01, 1909Full Service Brick and Mortar
    29145202 Main Street Branch202 Main Street, Scobey, MT 59263January 01, 1916Full Service Brick and Mortar
    3264368Glasgow Branch125 Fourth Street South, Glasgow, MT 59230November 06, 1989Full Service Brick and Mortar
    4264370Malta Branch135 South Second Street, Malta, MT 59538November 06, 1989Full Service Brick and Mortar

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