Independence Bank of Georgia in Braselton, Georgia (GA)



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Independence Bank of Georgia routing number info

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Independence Bank of Georgia
GeneralFDIC Certificate #: 58736
Status: Active
Federal Reserve ID: 3824542
Date Established: October 15, 2008
WWW: http://www.ibankga.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 465440
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: October 15, 2008
Last Structure Change Effective Date: October 15, 2008
Last Structure Change Process Date: October 16, 2008
Last Data Update: October 16, 2008
Data Source Date: April 05, 2012
LocationAddress: 6323 Grand Hickory Drive, Suite 300d, Braselton, GA 30517
County: Gwinnett
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: Atlanta
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Atlanta, GA (#520)
Combined Statistical Area (CSA): Atlanta-Sandy Springs-Gainesville, GA-AL (#122)
Core Based Statistical Area (CBSA): Atlanta-Sandy Springs-Marietta, GA (#12060)
CBSA Metro Statistical Area: Atlanta-Sandy Springs-Marietta, GA (#12060)
History of ChangesChange in Geographic Region/Area/Territory/Field Office
Change in FED-RSSD-ID
New Institution
Financial SummaryTotal assets: $121.9 mil
Equity capital: $16.9 mil
Deposits held in domestic offices: $104.8 mil
Return on assets (ROA): 0.48% ($0.6 mil)
Quarterly return on assets: 0.60% ($0.7 mil)
Return on Equity (ROE): 3.26% ($0.6 mil)
Quarterly return on equity: 4.34% ($0.7 mil)
Net income: $0.5 mil
Quarterly Net income: $0.2 mil
Pretax return on assets: 0.49% ($597.2 mil)
Quarterly Pretax return on assets: 0.61% ($743.5 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)20
Total assets$121,883
Cash and due from depository institutions$14,493
Interest-bearing balances$11,252
Securities$22,310
Federal funds sold & reverse repurchase agreements$1,500
Net loans & leases$81,753
Loan loss allowance $1,206
Trading account assets$0
Bank premises and fixed assets$1,196
Other real estate owned$0
Goodwill and other intangibles$0
All other assets$631
Life insurance assets$121,883
Total liabilities and capital$105,029
Total liabilities$104,826
Total deposits$96,248
Interest-bearing deposits$104,826
Deposits held in domestic offices$90
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$0
Other borrowed funds $0
Subordinated debt $203
All other liabilities $16,854
Total equity capital$16,854
Total bank equity capital$16,854
Perpetual preferred stock$0
Common stock$9,460
Surplus$10,205
Undivided profits $-2,811
Memoranda
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 $0
Earning assets $0
Long-term assets (5+ years) $333
Average Assets, year-to-date $116,815
Average Assets, quarterly $26,615
Volatile liabilities $110,504
Insider loans $120,627
FHLB advances $82,532
Loans and leases held for sale $120,400
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $16,784
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $6,604
Derivatives$6,909
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $5,280
Total interest expense $1,118
Net interest income $4,162
Provision for loan and lease losses $358
Total noninterest income $98
Fiduciary activities $0
Service charges on deposit accounts $59
Trading account gains & fees $0
Additional noninterest income $39
Total noninterest expense $3,363
Salaries and employee benefits $1,924
Premises and equipment expense $448
Additional noninterest expense $991
Pre-tax net operating income $539
Securities gains (losses) $0
Applicable income taxes $7
Income before extraordinary items $532
Extraordinary gains - net $0
Net income attributable to bank $532
Net charge-offs $0
Cash dividends $532
Sale, conversion, retirement of capital stock, net $0
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.96%
Cost of funding earning assets 1.05%
Net interest margin 3.91%
Noninterest income to earning assets 0.09%
Noninterest expense to earning assets 3.16%
Net operating income to assets 0.48%
Return on assets (ROA) 0.48%
Pretax return on assets 0.49%
Return on equity (ROE) 3.26%
Retained earnings to average equity (YTD only) 3.26%
Net charge-offs to loans 0.00%
Credit loss provision to net charge-offs 0.00%
Efficiency ratio0.00%
Assets per employee$78,944
Cash dividends to net income (YTD only)6.09%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.45%
Noncurrent assets plus other real estate owned to assets 0.00%
Noncurrent loans to loans 0.00%
Net loans and leases to deposits0.00%
Net loans and leases to core deposits 77.99%
Equity capital to assets 84.78%
Core capital (leverage) ratio 13.83%
Tier 1 risk-based capital ratio 13.94%
Total risk-based capital ratio 20.34%
Memoranda
Average assets$22
Average earning assets$110,504
Average equity $16,343
Average loans $106,422
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2 Georgia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0465440Independence Bank Of Georgia6323 Grand Hickory Drive, Suite 300d, Braselton, GA 30517October 15, 2008Full Service Brick and Mortar
1521321Gainesville Branch311 Green Street Nw, Suite 100, Gainesville, GA 30501Febuary 01, 2011Full Service Brick and Mortar
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