Independence Bank in Independence, Ohio (OH)

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Independence Bank
GeneralFDIC 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
LocationAddress: 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 SummaryTotal 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)
Total employees (full-time equivalent)24
Total assets$156,850
Cash and due from depository institutions$22,806
Interest-bearing balances$0
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$97,440
Loan loss allowance $4,225
Trading account assets$0
Bank premises and fixed assets$17
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$3,834
Life insurance assets$156,850
Total liabilities and capital$137,740
Total liabilities$137,460
Total deposits$106,076
Interest-bearing deposits$137,460
Deposits held in domestic offices$70
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $280
All other liabilities $19,110
Total equity capital$19,110
Total bank equity capital$19,110
Perpetual preferred stock$0
Common stock$1,000
Undivided profits $16,966
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $3,226
Earning assets $0
Long-term assets (5+ years) $629
Average Assets, year-to-date $130,193
Average Assets, quarterly $24,671
Volatile liabilities $162,186
Insider loans $162,295
FHLB advances $106,143
Loans and leases held for sale $169,042
Unused loan commitments $1,290
Tier 1 (core) risk-based capital $1,290
Tier 2 risk-based capital $18,863
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $0
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $7,008
Total interest expense $1,284
Net interest income $5,724
Provision for loan and lease losses $1,023
Total noninterest income $153
Fiduciary activities $0
Service charges on deposit accounts $130
Trading account gains & fees $0
Additional noninterest income $23
Total noninterest expense $3,943
Salaries and employee benefits $2,172
Premises and equipment expense $159
Additional noninterest expense $1,612
Pre-tax net operating income $911
Securities gains (losses) $749
Applicable income taxes $460
Income before extraordinary items $1,200
Extraordinary gains - net $0
Net income attributable to bank $1,200
Net charge-offs $0
Cash dividends $1,200
Sale, conversion, retirement of capital stock, net $1,448
Net operating income $622
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.22%
Cost of funding earning assets 0.96%
Net interest margin 4.27%
Noninterest income to earning assets 0.11%
Noninterest expense to earning assets 2.94%
Net operating income to assets 0.41%
Return on assets (ROA) 0.74%
Pretax return on assets 1.02%
Return on equity (ROE) 6.37%
Retained earnings to average equity (YTD only) 3.07%
Net charge-offs to loans 1.34%
Credit loss provision to net charge-offs 70.65%
Efficiency ratio1.34%
Assets per employee$67,092
Cash dividends to net income (YTD only)6.54%
Condition Ratios (%)
Loss allowance to loans 51.83%
Loss allowance to noncurrent loans 4.16%
Noncurrent assets plus other real estate owned to assets 130.97%
Noncurrent loans to loans 2.06%
Net loans and leases to deposits3.17%
Net loans and leases to core deposits 70.89%
Equity capital to assets 106.30%
Core capital (leverage) ratio 12.18%
Tier 1 risk-based capital ratio 11.16%
Total risk-based capital ratio 17.77%
Average assets$19
Average earning assets$162,186
Average equity $18,825
Average loans $134,202
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Total Fiduciary and Related Assets (December 31, 2002)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$46,370
Number of Accounts1
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$0
Investment management agency accounts$0
Other fiduciary accounts$0
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts214
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$46,370
Corporate trust and agency accounts$8,381
Other fiduciary accounts$11,323
Fiduciary accounts held in foreign offices$14,282
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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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