Independence Bank in Newport Beach, California (CA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Independence Bank in Newport Beach, California (CA)
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Independence Bank routing number info

Independence Bank - Overview

  • General
  • FDIC Certificate #: 57688
    Status: Active
    Federal Reserve ID: 3295320
    Date Established: September 22, 2004
    WWW: http://www.independence-bank.net
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Domestic: 3, Interstate: No)
    FDIC's unique #: 419876
    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: September 22, 2004
    Last Structure Change Effective Date: November 06, 2009
    Last Structure Change Process Date: November 06, 2009
    Last Data Update: November 06, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 4525 Macarthur Boulevard, Newport Beach, CA 92660
    County: Orange
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Orange
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Orange County, CA (#5945)
    Consolidated Metropolitan Statistical Area (CMSA): Los Angeles-Riverside-Orange County, CA (#49)
    Combined Statistical Area (CSA): Los Angeles-Long Beach-Riverside, CA (#348)
    Core Based Statistical Area (CBSA): Los Angeles-Long Beach-Santa Ana, CA (#31100)
    CBSA Metro Statistical Area: Los Angeles-Long Beach-Santa Ana, CA (#31100)
    Core Based Statistical Division: Santa Ana-Anaheim-Irvine, CA (#42044)
  • History of Changes
  • Change in Location
  • Financial Summary
  • Total assets: $294.2 mil
    Equity capital: $37.2 mil
    Deposits held in domestic offices: $208.7 mil
    Return on assets (ROA): 0.47% ($1.4 mil)
    Quarterly return on assets: -0.18% (-$0.5 mil)
    Return on Equity (ROE): 4.03% ($1.5 mil)
    Quarterly return on equity: -1.46% (-$0.5 mil)
    Net income: $1.5 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: 0.36% ($1,059.2 mil)
    Quarterly Pretax return on assets: -1.87% (-$5,501.9 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
  • 58Total employees (full-time equivalent)
  • $294,220Total assets
  • $2,738Cash and due from depository institutions
  • $844Interest-bearing balances
  • $54,166Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $218,281Net loans & leases
  • $4,698Loan loss allowance
  • $0Trading account assets
  • $1,755Bank premises and fixed assets
  • $2,917Other real estate owned
  • $0Goodwill and other intangibles
  • $294,220Life insurance assets
  • $14,363All other assets
  • $256,998Total liabilities and capital
  • $208,729Total liabilities
  • $196,414Total deposits
  • $208,729Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $47,200Trading liabilities
  • $0Other borrowed funds
  • $1,069Subordinated debt
  • $37,222All other liabilities
  • $37,222Total equity capital
  • $37,222Total bank equity capital
  • $0Perpetual preferred stock
  • $37,949Common stock
  • $494Surplus
  • $-1,221Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,785Income earned, not collected on loans
  • $0Earning assets
  • $1,093Long-term assets (5+ years)
  • $273,291Average Assets, year-to-date
  • $230,950Average Assets, quarterly
  • $309,566Volatile liabilities
  • $297,527Insider loans
  • $243,170FHLB advances
  • $293,278Loans and leases held for sale
  • $4,828Unused loan commitments
  • $4,828Tier 1 (core) risk-based capital
  • $36,917Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $10,662Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $16,428Total interest income
  • $3,582Total interest expense
  • $12,846Net interest income
  • $400Provision for loan and lease losses
  • -$1,367Total noninterest income
  • $0Fiduciary activities
  • $122Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$1,489Additional noninterest income
  • $10,136Total noninterest expense
  • $5,597Salaries and employee benefits
  • $927Premises and equipment expense
  • $3,612Additional noninterest expense
  • $943Pre-tax net operating income
  • $186Securities gains (losses)
  • -$324Applicable income taxes
  • $1,453Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,453Net income attributable to bank
  • $0Net charge-offs
  • $1,453Cash dividends
  • $1,440Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.68%Yield on earning assets
  • 1.24%Cost of funding earning assets
  • 4.44%Net interest margin
  • -0.47%Noninterest income to earning assets
  • 3.50%Noninterest expense to earning assets
  • 0.41%Net operating income to assets
  • 0.47%Return on assets (ROA)
  • 0.36%Pretax return on assets
  • 4.03%Return on equity (ROE)
  • 4.03%Retained earnings to average equity (YTD only)
  • 0.60%Net charge-offs to loans
  • 27.78%Credit loss provision to net charge-offs
  • 0.93%Efficiency ratio
  • 88,300Assets per employee
  • 5.07%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.11%Loss allowance to noncurrent loans
  • 98.18%Noncurrent assets plus other real estate owned to assets
  • 2.62%Noncurrent loans to loans
  • 2.15%Net loans and leases to deposits
  • 104.58%Net loans and leases to core deposits
  • 115.16%Equity capital to assets
  • 12.65%Core capital (leverage) ratio
  • 12.59%Tier 1 risk-based capital ratio
  • 15.18%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $309,566Average earning assets
  • $36,071Average equity
  • $289,333Average loans

List of branches

  • 4 California Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    0419876Independence Bank4525 Macarthur Boulevard, Newport Beach, CA 92660September 22, 2004Full Service Brick and Mortar
    2458028Fountain Valley Branch18101 Magnolia Street, Fountain Valley, CA 92708January 17, 2007Full Service Brick and Mortar
    3518477San Juan Capistrano Branch32291 Camino Capistrano, San Juan Capistrano, CA 92675April 04, 2011Full Service Brick and Mortar
    4530038Tustin Branch17782 East 17th Street, Suite 101, Tustin, CA 92780November 22, 2011Full Service Brick and Mortar

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