Independence Bank of Kentucky in Owensboro, Kentucky (KY)
Overview, Financial Summary, Detailed Financial Reports, Branches

Independence Bank of Kentucky - Overview

  • General
  • FDIC Certificate #: 8136
    Status: Active
    Federal Reserve ID: 648242
    Bank Holding Company (Regulatory Top Holder): Independence Bancshares, Inc. (RSSDID: 1118854, Location: Owensboro, KY)
    Date Established: January 01, 1909
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 20 (Domestic: 20, Interstate: No)
    OTS Docket #: 13530
    FDIC's unique #: 5182
    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: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 2425 Frederica Street, Owensboro, KY 42301
    County: Daviess
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Hopkinsville
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Owensboro, KY (#5990)
    Core Based Statistical Area (CBSA): Owensboro, KY (#36980)
    CBSA Metro Statistical Area: Owensboro, KY (#36980)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $1,133.6 mil
    Equity capital: $81.9 mil
    Deposits held in domestic offices: $949.3 mil
    Return on assets (ROA): 1.57% ($17.8 mil)
    Quarterly return on assets: 1.66% ($18.8 mil)
    Return on Equity (ROE): 22.46% ($18.4 mil)
    Quarterly return on equity: 23.08% ($18.9 mil)
    Net income: $16.8 mil
    Quarterly Net income: $4.6 mil
    Pretax return on assets: 2.14% ($24,258.5 mil)
    Quarterly Pretax return on assets: 2.01% ($22,784.9 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
  • 239Total employees (full-time equivalent)
  • $1,133,577Total assets
  • $15,757Cash and due from depository institutions
  • $12,726Interest-bearing balances
  • $358,400Securities
  • $735Federal funds sold & reverse repurchase agreements
  • $710,268Net loans & leases
  • $9,278Loan loss allowance
  • $0Trading account assets
  • $24,375Bank premises and fixed assets
  • $1,353Other real estate owned
  • $2,125Goodwill and other intangibles
  • $1,133,577Life insurance assets
  • $20,564All other assets
  • $1,051,649Total liabilities and capital
  • $949,346Total liabilities
  • $853,441Total deposits
  • $949,346Interest-bearing deposits
  • $60Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $97,546Trading liabilities
  • $0Other borrowed funds
  • $4,757Subordinated debt
  • $81,928All other liabilities
  • $81,928Total equity capital
  • $81,928Total bank equity capital
  • $6,000Perpetual preferred stock
  • $1,485Common stock
  • $44,862Surplus
  • $29,581Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $2,290Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,480Income earned, not collected on loans
  • $0Earning assets
  • $6,458Long-term assets (5+ years)
  • $1,082,129Average Assets, year-to-date
  • $357,097Average Assets, quarterly
  • $1,065,483Volatile liabilities
  • $1,121,349Insider loans
  • $763,077FHLB advances
  • $1,104,281Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $76,698Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $111,075Restructured Loans and leases
  • $35,280Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $56,784Total interest income
  • $11,199Total interest expense
  • $45,585Net interest income
  • $1,475Provision for loan and lease losses
  • $5,316Total noninterest income
  • $1,627Fiduciary activities
  • $2,301Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,388Additional noninterest income
  • $26,593Total noninterest expense
  • $15,349Salaries and employee benefits
  • $3,100Premises and equipment expense
  • $8,144Additional noninterest expense
  • $22,833Pre-tax net operating income
  • $0Securities gains (losses)
  • $6,068Applicable income taxes
  • $16,765Income before extraordinary items
  • $0Extraordinary gains - net
  • $16,765Net income attributable to bank
  • $0Net charge-offs
  • $16,765Cash dividends
  • $835Sale, conversion, retirement of capital stock, net
  • $5,561Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.55%Yield on earning assets
  • 1.09%Cost of funding earning assets
  • 4.46%Net interest margin
  • 0.52%Noninterest income to earning assets
  • 2.60%Noninterest expense to earning assets
  • 1.57%Net operating income to assets
  • 1.57%Return on assets (ROA)
  • 2.14%Pretax return on assets
  • 22.46%Return on equity (ROE)
  • 15.01%Retained earnings to average equity (YTD only)
  • 0.12%Net charge-offs to loans
  • 176.65%Credit loss provision to net charge-offs
  • 29.11%Efficiency ratio
  • 52,245Assets per employee
  • 4.74%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 33.17%Loss allowance to loans
  • 1.29%Loss allowance to noncurrent loans
  • 374.11%Noncurrent assets plus other real estate owned to assets
  • 0.34%Noncurrent loans to loans
  • 0.34%Net loans and leases to deposits
  • 74.82%Net loans and leases to core deposits
  • 85.61%Equity capital to assets
  • 7.23%Core capital (leverage) ratio
  • 6.95%Tier 1 risk-based capital ratio
  • 10.05%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $1,065,483Average earning assets
  • $74,652Average equity
  • $1,023,139Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $295,971Managed Assets
  • 1Number of Accounts
  • $277,649Personal trust and agency accounts
  • $61,484Employee benefit-defined contribution accounts
  • $41,326Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $36,523Corporate trust and agency accounts
  • $25Investment management agency accounts
  • $138,291Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 479Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $18,322Other retirement accounts
  • $1,746Corporate trust and agency accounts
  • $463Other fiduciary accounts
  • $5,918Fiduciary accounts held in foreign offices

List of branches

  • 20 Kentucky Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    05182Independence Bank Of Kentucky2425 Frederica Street, Owensboro, KY 42301January 01, 1909Full Service Brick and Mortar
    2217975Henton Street Branch614 Henton Street, Livermore, KY 42352November 22, 1996Full Service Brick and Mortar
    5194189Highway 41-A Branch211 U.S. Highway 41-A South, Providence, KY 42450December 31, 1996Full Service Brick and Mortar
    7217976Parrish Avenue Branch2465 Parrish Avenue, Owensboro, KY 42303March 22, 1999Full Service Brick and Mortar
    11357504Highway 54 BranchFairview And Highway 54, Owensboro, KY 42301August 02, 2000Full Service Brick and Mortar
    13358981Sebree Branch308 U.S. Highway 41, Sebree, KY 42455September 21, 2000Full Service Brick and Mortar
    14361008Hawesville Branch225 Hawes Road, Hawesville, KY 42348May 07, 2001Full Service Brick and Mortar
    16419771Zion Road Branch2610 Zion Road, Henderson, KY 42420Febuary 17, 2003Full Service Brick and Mortar
    17430440Thoroughbred Square Branch1945 Thoroughbred Square, Bowling Green, KY 42104March 01, 2004Full Service Brick and Mortar
    18430441Paducah Branch925 Joe Clifton Drive, Paducah, KY 42001July 12, 2004Full Service Brick and Mortar
    19430443Scottsville Road Branch6040 Scottsville Road, Bowling Green, KY 42104July 22, 2004Full Service Brick and Mortar
    2043193418th Street Branch425 East 18th Street, Owensboro, KY 42301August 18, 2004Limited Service Administrative
    23442963Nashville Rd Branch2415 Nashville Rd, Bowling Green, KY 42101September 27, 2004Full Service Brick and Mortar
    24463557Barret Boulevard Branch1100 Barret Boulevard, Henderson, KY 42420November 16, 2006Full Service Brick and Mortar
    25481045West Park Branch2777 West Park Drive, Paducah, KY 42001September 15, 2008Full Service Brick and Mortar
    26483217Lewisport Branch8523 U.S. Highway 60 West, Lewisport, KY 42351November 17, 2008Full Service Brick and Mortar
    27485249Fairview Avenue Branch870 Fairview Avenue, Bowling Green, KY 42101January 16, 2009Full Service Brick and Mortar
    28510235Lone Oak Road Branch3312 Lone Oak Road, Paducah, KY 42003June 28, 2010Full Service Brick and Mortar
    29526386Liberty Square Branch76 South Green Street, Henderson, KY 42420October 11, 2011Full Service Brick and Mortar
    30526949Madisonville North Branch1470 (A) Chelsa Drive, Madisonville, KY 42431November 14, 2011Full Service Retail

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