Independent Bank in Memphis, Tennessee (TN)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Independent Bank in Memphis, Tennessee (TN)
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Independent Bank - Overview

  • General
  • FDIC 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
  • Location
  • Address: 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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total 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
  • 170Total employees (full-time equivalent)
  • $819,288Total assets
  • $55,255Cash and due from depository institutions
  • $43,704Interest-bearing balances
  • $21,480Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $692,617Net loans & leases
  • $8,330Loan loss allowance
  • $0Trading account assets
  • $8,455Bank premises and fixed assets
  • $1,405Other real estate owned
  • $0Goodwill and other intangibles
  • $819,288Life insurance assets
  • $40,076All other assets
  • $715,974Total liabilities and capital
  • $691,187Total liabilities
  • $609,267Total deposits
  • $691,187Interest-bearing deposits
  • $71Deposits held in domestic offices
  • 7126.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $5,000Trading liabilities
  • $10,000Other borrowed funds
  • $2,661Subordinated debt
  • $103,314All other liabilities
  • $103,314Total equity capital
  • $103,314Total bank equity capital
  • $0Perpetual preferred stock
  • $350Common stock
  • $73,833Surplus
  • $29,131Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,951Income earned, not collected on loans
  • $0Earning assets
  • $2,697Long-term assets (5+ years)
  • $757,801Average Assets, year-to-date
  • $191,802Average Assets, quarterly
  • $807,048Volatile liabilities
  • $820,773Insider loans
  • $760,752FHLB advances
  • $826,052Loans and leases held for sale
  • $6,736Unused loan commitments
  • $6,736Tier 1 (core) risk-based capital
  • $102,495Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $61,566Restructured Loans and leases
  • $6,130Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $41,289Total interest income
  • $9,839Total interest expense
  • $31,450Net interest income
  • $3,417Provision for loan and lease losses
  • $6,357Total noninterest income
  • $0Fiduciary activities
  • $811Service charges on deposit accounts
  • $0Trading account gains & fees
  • $5,546Additional noninterest income
  • $21,684Total noninterest expense
  • $12,090Salaries and employee benefits
  • $3,177Premises and equipment expense
  • $6,417Additional noninterest expense
  • $12,706Pre-tax net operating income
  • $0Securities gains (losses)
  • $4,462Applicable income taxes
  • $8,244Income before extraordinary items
  • $0Extraordinary gains - net
  • $8,244Net income attributable to bank
  • $0Net charge-offs
  • $8,244Cash dividends
  • $2,816Sale, conversion, retirement of capital stock, net
  • $6,225Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.51%Yield on earning assets
  • 1.31%Cost of funding earning assets
  • 4.20%Net interest margin
  • 0.85%Noninterest income to earning assets
  • 2.89%Noninterest expense to earning assets
  • 1.02%Net operating income to assets
  • 1.02%Return on assets (ROA)
  • 1.57%Pretax return on assets
  • 9.68%Return on equity (ROE)
  • 2.37%Retained earnings to average equity (YTD only)
  • 0.41%Net charge-offs to loans
  • 121.34%Credit loss provision to net charge-offs
  • 5.73%Efficiency ratio
  • 57,354Assets per employee
  • 4.82%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 75.51%Loss allowance to loans
  • 1.19%Loss allowance to noncurrent loans
  • 104.77%Noncurrent assets plus other real estate owned to assets
  • 1.14%Noncurrent loans to loans
  • 1.13%Net loans and leases to deposits
  • 100.21%Net loans and leases to core deposits
  • 122.98%Equity capital to assets
  • 12.61%Core capital (leverage) ratio
  • 12.41%Tier 1 risk-based capital ratio
  • 13.47%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $807,048Average earning assets
  • $85,158Average equity
  • $749,532Average loans

List of branches

  • 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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