Independence Bank of Chicago in Chicago, Illinois (IL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 29, 1996

  • Independence Bank of Chicago in Chicago, Illinois (IL)
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Independence Bank of Chicago - Overview

  • General
  • FDIC Certificate #: 19308
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: ShoreBank (#15640)
    Federal Reserve ID: 77730
    Date Established: December 14, 1964
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Interstate: No)
    FDIC's unique #: 13121
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: December 14, 1964
    Last Structure Change Effective Date: March 29, 1996
    Last Structure Change Process Date: April 30, 1996
    Last Data Update: March 14, 2000
    Data Source Date: April 05, 2012
  • Location
  • Address: 7936 South Cottage Grove Avenue, Chicago, IL 60619
    County: Cook
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Chicago
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Central
    Metropolitan Statistical Area (MSA): Chicago, IL (#1600)
    Consolidated Metropolitan Statistical Area (CMSA): Chicago-Gary-Kenosha, IL-IN-WI (#14)
    Combined Statistical Area (CSA): Chicago-Naperville-Michigan City, IL-IN-WI (#176)
    Core Based Statistical Area (CBSA): Chicago-Joliet-Naperville, IL-IN-WI (#16980)
    CBSA Metro Statistical Area: Chicago-Joliet-Naperville, IL-IN-WI (#16980)
    Core Based Statistical Division: Chicago-Joliet-Naperville, IL (#16974)
  • History of Changes
  • Merger - Without Assistance
  • Financial Summary
  • Total assets: $145.7 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $90Total assets
  • $145,671Cash and due from depository institutions
  • $12,935Interest-bearing balances
  • $0Securities
  • $47,238Federal funds sold & reverse repurchase agreements
  • $0Net loans & leases
  • $38,114Loan loss allowance
  • $1,800Trading account assets
  • $0Bank premises and fixed assets
  • $6,062Other real estate owned
  • $360Goodwill and other intangibles
  • $40,962Life insurance assets
  • $0All other assets
  • $0Total liabilities and capital
  • $145,671Total liabilities
  • $126,464Total deposits
  • $123,330Interest-bearing deposits
  • $84,470Deposits held in domestic offices
  • 123330.00%% insured (estimated)
  • $64Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $0Subordinated debt
  • $0All other liabilities
  • $3,134Total equity capital
  • $3,134Total bank equity capital
  • $19,207Perpetual preferred stock
  • $0Common stock
  • $1,471Surplus
  • $17,624Undivided profits
  • Memoranda
  • $112Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,757Income earned, not collected on loans
  • $419Earning assets
  • $85,352Long-term assets (5+ years)
  • $21,708Average Assets, year-to-date
  • $136,227Average Assets, quarterly
  • $138,858Volatile liabilities
  • $27,842Insider loans
  • $116FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $34,498Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $19,204Total risk weighted assets
  • $94,427Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1995)

  • Dollar figures in thousands
  • $0Total interest income
  • $376Total interest expense
  • $149Net interest income
  • $227Provision for loan and lease losses
  • $0Total noninterest income
  • $130Fiduciary activities
  • -$2Service charges on deposit accounts
  • $62Trading account gains & fees
  • $0Additional noninterest income
  • $70Total noninterest expense
  • $189Salaries and employee benefits
  • $83Premises and equipment expense
  • $59Additional noninterest expense
  • $47Pre-tax net operating income
  • $168Securities gains (losses)
  • $0Applicable income taxes
  • $59Income before extraordinary items
  • $109Extraordinary gains - net
  • $0Net income attributable to bank
  • $109Net charge-offs
  • $0Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1995)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 0.34%Cost of funding earning assets
  • 0.14%Net interest margin
  • 0.21%Noninterest income to earning assets
  • 0.12%Noninterest expense to earning assets
  • 0.17%Net operating income to assets
  • 0.08%Return on assets (ROA)
  • 0.08%Pretax return on assets
  • 0.12%Return on equity (ROE)
  • 0.79%Retained earnings to average equity (YTD only)
  • 0.79%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 52,941Assets per employee
  • 1.62%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.51%Loss allowance to noncurrent loans
  • 65.29%Noncurrent assets plus other real estate owned to assets
  • 2.14%Noncurrent loans to loans
  • 6.91%Net loans and leases to deposits
  • 30.90%Net loans and leases to core deposits
  • 39.91%Equity capital to assets
  • 13.19%Core capital (leverage) ratio
  • 13.18%Tier 1 risk-based capital ratio
  • 20.34%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $136,227Average earning assets
  • $13,881Average equity
  • $109,817Average loans

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