Independence Bank in Independence, Ohio (OH)
Overview, Financial Summary, Detailed Financial Reports, Branches


Independence Bank - Overview

  • General
  • FDIC Certificate #: 22925
    Status: Active
    Federal Reserve ID: 956527
    Bank Holding Company (Regulatory Top Holder): Independence Banccorp (RSSDID: 1070970, Location: Independence, OH)
    Date Established: August 15, 1979
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 16032
    Numeric code: 21
    Regulator: FDIC
    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 15, 1979
    Last Structure Change Effective Date: September 01, 2010
    Last Structure Change Process Date: September 09, 2010
    Last Data Update: September 09, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 4401 Rockside Road, Independence, OH 44131
    County: Cuyahoga
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Columbus
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Cleveland-Lorain-Elyria, OH (#1680)
    Consolidated Metropolitan Statistical Area (CMSA): Cleveland-Akron, OH (#28)
    Combined Statistical Area (CSA): Cleveland-Akron-Elyria, OH (#184)
    Core Based Statistical Area (CBSA): Cleveland-Elyria-Mentor, OH (#17460)
    CBSA Metro Statistical Area: Cleveland-Elyria-Mentor, OH (#17460)
  • Financial Summary
  • Total assets: $156.8 mil
    Equity capital: $19.1 mil
    Deposits held in domestic offices: $137.5 mil
    Return on assets (ROA): 0.74% ($1.2 mil)
    Quarterly return on assets: 0.48% ($0.8 mil)
    Return on Equity (ROE): 6.37% ($1.2 mil)
    Quarterly return on equity: 4.03% ($0.8 mil)
    Net income: $1.2 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 1.02% ($1,599.9 mil)
    Quarterly Pretax return on assets: 0.77% ($1,207.7 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
  • 24Total employees (full-time equivalent)
  • $156,850Total assets
  • $22,806Cash and due from depository institutions
  • $0Interest-bearing balances
  • $32,753Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $97,440Net loans & leases
  • $4,225Loan loss allowance
  • $0Trading account assets
  • $17Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $156,850Life insurance assets
  • $3,834All other assets
  • $137,740Total liabilities and capital
  • $137,460Total liabilities
  • $106,076Total deposits
  • $137,460Interest-bearing deposits
  • $70Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $280Subordinated debt
  • $19,110All other liabilities
  • $19,110Total equity capital
  • $19,110Total bank equity capital
  • $0Perpetual preferred stock
  • $1,000Common stock
  • $1,144Surplus
  • $16,966Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,226Income earned, not collected on loans
  • $0Earning assets
  • $629Long-term assets (5+ years)
  • $130,193Average Assets, year-to-date
  • $24,671Average Assets, quarterly
  • $162,186Volatile liabilities
  • $162,295Insider loans
  • $106,143FHLB advances
  • $169,042Loans and leases held for sale
  • $1,290Unused loan commitments
  • $1,290Tier 1 (core) risk-based capital
  • $18,863Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $0Restructured Loans and leases
  • $3,023Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,008Total interest income
  • $1,284Total interest expense
  • $5,724Net interest income
  • $1,023Provision for loan and lease losses
  • $153Total noninterest income
  • $0Fiduciary activities
  • $130Service charges on deposit accounts
  • $0Trading account gains & fees
  • $23Additional noninterest income
  • $3,943Total noninterest expense
  • $2,172Salaries and employee benefits
  • $159Premises and equipment expense
  • $1,612Additional noninterest expense
  • $911Pre-tax net operating income
  • $749Securities gains (losses)
  • $460Applicable income taxes
  • $1,200Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,200Net income attributable to bank
  • $0Net charge-offs
  • $1,200Cash dividends
  • $1,448Sale, conversion, retirement of capital stock, net
  • $622Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.22%Yield on earning assets
  • 0.96%Cost of funding earning assets
  • 4.27%Net interest margin
  • 0.11%Noninterest income to earning assets
  • 2.94%Noninterest expense to earning assets
  • 0.41%Net operating income to assets
  • 0.74%Return on assets (ROA)
  • 1.02%Pretax return on assets
  • 6.37%Return on equity (ROE)
  • 3.07%Retained earnings to average equity (YTD only)
  • 1.34%Net charge-offs to loans
  • 70.65%Credit loss provision to net charge-offs
  • 1.34%Efficiency ratio
  • 67,092Assets per employee
  • 6.54%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 51.83%Loss allowance to loans
  • 4.16%Loss allowance to noncurrent loans
  • 130.97%Noncurrent assets plus other real estate owned to assets
  • 2.06%Noncurrent loans to loans
  • 3.17%Net loans and leases to deposits
  • 70.89%Net loans and leases to core deposits
  • 106.30%Equity capital to assets
  • 12.18%Core capital (leverage) ratio
  • 11.16%Tier 1 risk-based capital ratio
  • 17.77%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $162,186Average earning assets
  • $18,825Average equity
  • $134,202Average loans

Total Fiduciary and Related Assets (December 31, 2002)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $46,370Managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 214Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $46,370Other retirement accounts
  • $8,381Corporate trust and agency accounts
  • $11,323Other fiduciary accounts
  • $14,282Fiduciary accounts held in foreign offices

List of branches

  • 1 Ohio Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    016032Independence Bank4401 Rockside Road, Independence, OH 44131August 15, 1979Full Service Brick and Mortar

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