Independence Federal Savings Bank in Washington, District Of Columbia (DC), MD
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Independence Federal Savings Bank in Washington, District Of Columbia (DC), MD
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Independence Federal Savings Bank - Overview

  • General
  • FDIC Certificate #: 31555
    Status: Active
    Federal Reserve ID: 492173
    Date Established: July 01, 1968
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 3 (Domestic: 3, Interstate: Yes)
    OTS Docket #: 7173
    FDIC's unique #: 44389
    Numeric code: 33
    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: July 01, 1968
    Last Structure Change Effective Date: October 26, 2011
    Last Structure Change Process Date: October 27, 2011
    Last Data Update: October 27, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1301 9th Street N W, Washington, DC 20001
    County: District Of Columbia
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Baltimore
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Washington, DC-MD-VA-WV (#8840)
    Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
    Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
    Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    Core Based Statistical Division: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
  • History of Changes
  • Corrections
  • Financial Summary
  • Total assets: $94.3 mil
    Equity capital: $4.1 mil
    Deposits held in domestic offices: $78.3 mil
    Return on assets (ROA): -1.26% (-$1.2 mil)
    Quarterly return on assets: -1.82% (-$1.7 mil)
    Return on Equity (ROE): -27.84% (-$1.1 mil)
    Quarterly return on equity: -41.13% (-$1.6 mil)
    Net income: -$1.3 mil
    Quarterly Net income: -$0.4 mil
    Pretax return on assets: -1.26% (-$1,188.5 mil)
    Quarterly Pretax return on assets: -1.82% (-$1,716.8 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
  • 30Total employees (full-time equivalent)
  • $94,327Total assets
  • $4,558Cash and due from depository institutions
  • $3,528Interest-bearing balances
  • $6,142Securities
  • $3,562Federal funds sold & reverse repurchase agreements
  • $75,046Net loans & leases
  • $2,009Loan loss allowance
  • $0Trading account assets
  • $607Bank premises and fixed assets
  • $890Other real estate owned
  • $0Goodwill and other intangibles
  • $94,327Life insurance assets
  • $3,522All other assets
  • $90,256Total liabilities and capital
  • $78,277Total liabilities
  • $72,940Total deposits
  • $78,277Interest-bearing deposits
  • $100Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $10,000Trading liabilities
  • $0Other borrowed funds
  • $1,979Subordinated debt
  • $4,071All other liabilities
  • $4,071Total equity capital
  • $4,071Total bank equity capital
  • $0Perpetual preferred stock
  • $16Common stock
  • $6,964Surplus
  • $-2,909Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,736Income earned, not collected on loans
  • $0Earning assets
  • $715Long-term assets (5+ years)
  • $88,278Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $103,475Volatile liabilities
  • $97,568Insider loans
  • $53,978FHLB advances
  • $94,215Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $3,959Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $933Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $4,761Total interest income
  • $1,617Total interest expense
  • $3,144Net interest income
  • $0Provision for loan and lease losses
  • $427Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $427Additional noninterest income
  • $4,879Total noninterest expense
  • $2,021Salaries and employee benefits
  • $1,115Premises and equipment expense
  • $1,743Additional noninterest expense
  • -$1,308Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • -$1,308Income before extraordinary items
  • $0Extraordinary gains - net
  • -$1,308Net income attributable to bank
  • $0Net charge-offs
  • -$1,308Cash dividends
  • $135Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.89%Yield on earning assets
  • 1.66%Cost of funding earning assets
  • 3.23%Net interest margin
  • 0.44%Noninterest income to earning assets
  • 5.01%Noninterest expense to earning assets
  • -1.26%Net operating income to assets
  • -1.26%Return on assets (ROA)
  • -1.26%Pretax return on assets
  • -27.84%Return on equity (ROE)
  • -27.84%Retained earnings to average equity (YTD only)
  • 0.16%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • -9.69%Efficiency ratio
  • 136,628Assets per employee
  • 3.14%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.61%Loss allowance to noncurrent loans
  • 23.00%Noncurrent assets plus other real estate owned to assets
  • 10.20%Noncurrent loans to loans
  • 11.34%Net loans and leases to deposits
  • 95.87%Net loans and leases to core deposits
  • 98.07%Equity capital to assets
  • 4.32%Core capital (leverage) ratio
  • 4.20%Tier 1 risk-based capital ratio
  • 7.33%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $103,475Average earning assets
  • $4,699Average equity
  • $97,399Average loans

List of branches

  • 2 District Of Columbia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    044389Independence Federal Savings Bank1301 9th Street N W, Washington, DC 20001July 01, 1968Full Service Brick and Mortar
    1285207E Street Branch1006 E Street, N.W., Washington, DC 20004July 01, 1968Full Service Brick and Mortar
  • 1 Maryland Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    100285208Eastern Avenue Branch7901 Eastern Avenue, Silver Spring, MD 20910July 01, 1968Full Service Brick and Mortar

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