Independent Bank in Memphis, Tennessee (TN)

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Independent Bank
GeneralFDIC Certificate #: 34728
Status: Active
Federal Reserve ID: 2666400
Bank Holding Company (Regulatory Top Holder): Independent Holdings, Inc (RSSDID: 3121193, Location: Memphis, TN)
Date Established: April 20, 1998
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 10 (Domestic: 9, Interstate: No)
FDIC's unique #: 61412
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: Consumer Lending Specialization
Date of Deposit Insurance: April 20, 1998
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
LocationAddress: 5050 Poplar Avenue, Memphis, TN 38157
County: Shelby
Quarterly Banking Profile Region: Dallas
FDIC Geographic Region: Dallas
FDIC Supervisory Region: Dallas
FDIC Field Office: Memphis
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Memphis, TN-AR-MS (#4920)
Core Based Statistical Area (CBSA): Memphis, TN-MS-AR (#32820)
CBSA Metro Statistical Area: Memphis, TN-MS-AR (#32820)
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $819.3 mil
Equity capital: $103.3 mil
Deposits held in domestic offices: $691.2 mil
Return on assets (ROA): 1.02% ($8.4 mil)
Quarterly return on assets: 1.10% ($9.0 mil)
Return on Equity (ROE): 9.68% ($10.0 mil)
Quarterly return on equity: 8.58% ($8.8 mil)
Net income: $8.2 mil
Quarterly Net income: $2.3 mil
Pretax return on assets: 1.57% ($12,862.8 mil)
Quarterly Pretax return on assets: 1.61% ($13,190.5 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)
Total employees (full-time equivalent)170
Total assets$819,288
Cash and due from depository institutions$55,255
Interest-bearing balances$43,704
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$692,617
Loan loss allowance $8,330
Trading account assets$0
Bank premises and fixed assets$8,455
Other real estate owned$1,405
Goodwill and other intangibles$0
All other assets$40,076
Life insurance assets$819,288
Total liabilities and capital$715,974
Total liabilities$691,187
Total deposits$609,267
Interest-bearing deposits$691,187
Deposits held in domestic offices$71
% insured (estimated)7126.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$5,000
Other borrowed funds $10,000
Subordinated debt $2,661
All other liabilities $103,314
Total equity capital$103,314
Total bank equity capital$103,314
Perpetual preferred stock$0
Common stock$350
Undivided profits $29,131
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 $7,951
Earning assets $0
Long-term assets (5+ years) $2,697
Average Assets, year-to-date $757,801
Average Assets, quarterly $191,802
Volatile liabilities $807,048
Insider loans $820,773
FHLB advances $760,752
Loans and leases held for sale $826,052
Unused loan commitments $6,736
Tier 1 (core) risk-based capital $6,736
Tier 2 risk-based capital $102,495
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $61,566
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $41,289
Total interest expense $9,839
Net interest income $31,450
Provision for loan and lease losses $3,417
Total noninterest income $6,357
Fiduciary activities $0
Service charges on deposit accounts $811
Trading account gains & fees $0
Additional noninterest income $5,546
Total noninterest expense $21,684
Salaries and employee benefits $12,090
Premises and equipment expense $3,177
Additional noninterest expense $6,417
Pre-tax net operating income $12,706
Securities gains (losses) $0
Applicable income taxes $4,462
Income before extraordinary items $8,244
Extraordinary gains - net $0
Net income attributable to bank $8,244
Net charge-offs $0
Cash dividends $8,244
Sale, conversion, retirement of capital stock, net $2,816
Net operating income $6,225
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.51%
Cost of funding earning assets 1.31%
Net interest margin 4.20%
Noninterest income to earning assets 0.85%
Noninterest expense to earning assets 2.89%
Net operating income to assets 1.02%
Return on assets (ROA) 1.02%
Pretax return on assets 1.57%
Return on equity (ROE) 9.68%
Retained earnings to average equity (YTD only) 2.37%
Net charge-offs to loans 0.41%
Credit loss provision to net charge-offs 121.34%
Efficiency ratio5.73%
Assets per employee$57,354
Cash dividends to net income (YTD only)4.82%
Condition Ratios (%)
Loss allowance to loans 75.51%
Loss allowance to noncurrent loans 1.19%
Noncurrent assets plus other real estate owned to assets 104.77%
Noncurrent loans to loans 1.14%
Net loans and leases to deposits1.13%
Net loans and leases to core deposits 100.21%
Equity capital to assets 122.98%
Core capital (leverage) ratio 12.61%
Tier 1 risk-based capital ratio 12.41%
Total risk-based capital ratio 13.47%
Average assets$16
Average earning assets$807,048
Average equity $85,158
Average loans $749,532
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10 Tennessee Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
061412Independent Bank5050 Poplar Avenue, Memphis, TN 38157April 20, 1998Full Service Brick and Mortar
1334329Poplar Avenue Branch6209 Poplar Avenue, Memphis, TN 38119Febuary 07, 2000Full Service Brick and Mortar
2361516Independent Bank Collierville Branch2116 West Poplar, Collierville, TN 38017May 10, 2001Full Service Brick and Mortar
3363479Union Avenue Branch1711 Union Avenue, Memphis, TN 38104April 08, 2002Full Service Brick and Mortar
4441455Poplar/Holmes Branch3295 Poplar Avenue, Memphis, TN 38111June 29, 2005Full Service Brick and Mortar
5462066Kroger-Collierville Branch240 New Byhalia Road, Collierville, TN 38017Febuary 13, 2007Full Service Brick and Mortar
6463071Kroger-Bartlett Branch5995 Stage Road, Bartlett, TN 38134May 16, 2007Full Service Brick and Mortar
7478994Laurelwood Branch450 Perkins Extd, Memphis, TN 38117December 08, 2007Full Service Brick and Mortar
8482371Germantown Branch7635 Poplar Avenue, Germantown, TN 38138November 17, 2008Full Service Brick and Mortar
9529512Downtown Commerce Square Branch40 South Main Street, Memphis, TN 38103March 06, 2012Full Service Brick and Mortar
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