Independence Federal Bank For Savings in Independence, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Independence Federal Bank For Savings in Independence, Iowa (IA)
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Independence Federal Bank For Savings - Overview

  • General
  • FDIC Certificate #: 29427
    Status: Active
    Federal Reserve ID: 372770
    Date Established: May 20, 1935
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 1 (Domestic: 1, Interstate: No)
    OTS Docket #: 3436
    FDIC's unique #: 42261
    Numeric code: 34
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: May 20, 1935
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 305 First Street West, Independence, IA 50644
    County: Buchanan
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Cedar Rapids
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $21.9 mil
    Equity capital: $2.1 mil
    Deposits held in domestic offices: $19.0 mil
    Return on assets (ROA): -0.59% (-$0.1 mil)
    Quarterly return on assets: -1.30% (-$0.3 mil)
    Return on Equity (ROE): -5.96% (-$0.1 mil)
    Quarterly return on equity: -13.67% (-$0.3 mil)
    Net income: -$0.1 mil
    Quarterly Net income: -$0.1 mil
    Pretax return on assets: -0.90% (-$196.7 mil)
    Quarterly Pretax return on assets: -1.79% (-$391.3 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
  • 4Total employees (full-time equivalent)
  • $21,858Total assets
  • $918Cash and due from depository institutions
  • $693Interest-bearing balances
  • $8,440Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $11,765Net loans & leases
  • $156Loan loss allowance
  • $0Trading account assets
  • $138Bank premises and fixed assets
  • $90Other real estate owned
  • $0Goodwill and other intangibles
  • $21,858Life insurance assets
  • $507All other assets
  • $19,805Total liabilities and capital
  • $18,955Total liabilities
  • $18,955Total deposits
  • $18,955Interest-bearing deposits
  • $100Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $700Trading liabilities
  • $0Other borrowed funds
  • $150Subordinated debt
  • $2,053All other liabilities
  • $2,053Total equity capital
  • $2,053Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $2,053Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $312Income earned, not collected on loans
  • $0Earning assets
  • $67Long-term assets (5+ years)
  • $20,898Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $22,211Volatile liabilities
  • $22,103Insider loans
  • $9,819FHLB advances
  • $21,823Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $2,018Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $0Restructured Loans and leases
  • $133Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $952Total interest income
  • $611Total interest expense
  • $341Net interest income
  • $6Provision for loan and lease losses
  • $2Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2Additional noninterest income
  • $627Total noninterest expense
  • $400Salaries and employee benefits
  • $87Premises and equipment expense
  • $140Additional noninterest expense
  • -$290Pre-tax net operating income
  • $89Securities gains (losses)
  • -$71Applicable income taxes
  • -$130Income before extraordinary items
  • $0Extraordinary gains - net
  • -$130Net income attributable to bank
  • $0Net charge-offs
  • -$130Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.45%Yield on earning assets
  • 2.86%Cost of funding earning assets
  • 1.60%Net interest margin
  • 0.01%Noninterest income to earning assets
  • 2.93%Noninterest expense to earning assets
  • -0.85%Net operating income to assets
  • -0.59%Return on assets (ROA)
  • -0.90%Pretax return on assets
  • -5.96%Return on equity (ROE)
  • -5.96%Retained earnings to average equity (YTD only)
  • 0.00%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • 0.00%Efficiency ratio
  • 182,799Assets per employee
  • 5.46%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.31%Loss allowance to noncurrent loans
  • 50.00%Noncurrent assets plus other real estate owned to assets
  • 1.84%Noncurrent loans to loans
  • 2.62%Net loans and leases to deposits
  • 62.07%Net loans and leases to core deposits
  • 62.07%Equity capital to assets
  • 9.39%Core capital (leverage) ratio
  • 9.25%Tier 1 risk-based capital ratio
  • 20.55%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $22,211Average earning assets
  • $2,180Average equity
  • $21,379Average loans

List of branches

  • 1 Iowa Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    042261Independence Federal Bank For Saving305 First Street West, Independence, IA 50644May 20, 1935Full Service Brick and Mortar

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