Bank Independent
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Data as of · sourced from FFIEC call reports. How we update
Bank Independent is an FDIC-insured commercial bank headquartered in Sheffield, AL, established in 1947 (FDIC certificate 16604), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $2.86B, up 2.8% from Q2 2025, the 6th largest of 93 banks headquartered in Alabama. Its CET1 capital ratio was 13.22% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 16604
- Headquarters
- Sheffield, AL
- Established
- 1947
- Total assets, Q2 2026
- $2.86B
- Assets vs Q2 2025
- +2.8%
- CET1 ratio, Q2 2026
- 13.22%
- Domestic offices
- 34 FDIC institution directory, current count
- Routing number
- 062205791
- Latest call report
- Q2 2026, FFIEC 041 · Bank Independent call report
- Holding company
- BANCINDEPENDENT, INCORPORATED
- Asset rank in state
- 6th of 93 in Alabama
Bank Independent spends more to run itself than most banks of its size. It reported $2.9 billion in assets at June 30, 2026, up 2.8% from a year earlier. It earns about $0.32 a year on every $100 of assets, a small fraction of the median of $1.29 for the 895 banks with $1 billion to $10 billion in assets. It also spends about 89 cents to bring in each dollar of revenue, higher than about 9 in 10 banks its size (median 58 cents).
Earnings fell sharply: quarterly net income of $2.3 million was 69% below a year earlier. Over the same year, loans grew 0.4% and deposits grew 3.4%. Funding is the softer spot: it holds about two-fifths of its deposits (43%) above the FDIC insurance limit, higher than about three-quarters of banks its size (median 30.9%).
As of June 30, 2026, Bank Independent reported a CET1 capital ratio of 13.22%, a return on assets of 0.32%, a nonperforming-loan ratio of 0.22% and a Texas ratio of 1.44%. The figures come from its call report filed with the FFIEC.
Of the 93 banks headquartered in Alabama, Bank Independent is the 6th largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets fell 3.1% to $2.86B, loans rose 1.1% and deposits fell 3.7%. Commercial and industrial loans made up 22.8% of its total loans on June 30, 2026, its largest category; next came non-owner-occupied commercial real estate loans at 22.0%. The FDIC Summary of Deposits lists 33 offices for it, in 19 cities in AL; its Huntsville 3 offices book 17% of its branch deposits. Judged on its Q2 2026 call report, Bank Independent meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 710 S Montgomery Ave, Sheffield, AL 35660
- County
- Colbert
- Metro Area
- Florence-Muscle Shoals, AL
- Charter
- Commercial bank, state charter, Fed member, FRB-supervised
- Primary Regulator
- Federal Reserve
- FDIC Region
- Atlanta (Region 5)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 6, Atlanta
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- August 2, 1947
- Former names
- First Colbert Bank (1965-1982)
- Domestic offices
- 34 FDIC institution directory, current count
- Employees (FTE)
- 655
- Domestic deposits
- $2.47B
- Allowance for credit losses
- $25.8M
- Net charge-offs (YTD)
- $2.2M
- Average total assets
- $2.91B
- Average total loans
- $1.89B
- Average interest-bearing deposits
- $2.40B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- August 2, 1947
- FDIC Cert
- 16604
- Fed RSSD
- 539032
- SEC CIK
- 2115850 → filed by BANCINDEPENDENT, INCORPORATED
- Website
- www.bibank.com →
- Parent Holding Company
- BANCINDEPENDENT, INCORPORATED (RSSD 1082209)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Bank Independent's total assets moved between a low of $2.54B (Q3 2023) and a high of $3.01B (Q4 2025) from Q3 2023 to Q2 2026, and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$2.86B total assets against $2.78B; $2.57B total liabilities against $2.53B.
$1.83B net loans and leases against $1.83B; $2.47B total deposits against $2.38B.
$457.2M securities against $411.8M; $267.9M cash and balances due against $273.1M.
$36.0M total interest income against $40.6M; $9.3M total interest expense against $9.9M.
$26.8M net interest income against $30.6M.
$6.5M total noninterest income against $6.9M; $29.5M total noninterest expense against $26.4M.
$900K provision for credit losses against $1.4M.
$2.3M net income against $7.7M.
0.32% return on assets against 1.10%; 4.07% net interest margin against 4.85%.
13.22% CET1 capital ratio against 11.28%; 9.82% tier 1 leverage ratio against 8.81%.
Inside the full Bank Independent terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
Bank Independent rankings
Its closest position to the top of a national ranking is 440 of 4,196, for total assets; its furthest is 3,455 of 3,606, for efficiency ratio.
Metric pages for Bank Independent: Uninsured deposits.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.32% (Q2 2026) to 1.10% (Q2 2025) and its net interest margin ran from 4.07% (Q2 2026) to 4.85% (Q2 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 13.22% | 0.32% | 0.22% | 1.44% | 4.07% |
| Q1 2026 | 13.19% | 0.92% | 0.64% | 4.06% | 4.65% |
| Q4 2025 | 12.09% | 1.05% | 0.17% | 1.56% | 4.63% |
| Q3 2025 | 11.66% | 0.99% | 0.19% | 1.69% | 4.74% |
| Q2 2025 | 11.28% | 1.10% | 0.20% | 1.93% | 4.85% |
| Q1 2025 | 10.93% | 0.93% | 0.33% | 2.52% | 4.59% |
| Q4 2024 | 11.23% | 0.98% | 0.37% | 2.89% | 4.68% |
| Q3 2024 | 10.71% | 1.09% | 0.25% | 2.08% | 4.69% |
Swipe the table sideways to see every column.
Branch Network
View all 33 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Downtown Huntsville Branch | Huntsville , AL | 35801 | $408.2M |
| Florence Branch | Florence , AL | 35630 | $261.6M |
| Bank Independent (main office) | Sheffield , AL | 35660 | $221.5M |
| Moulton Branch | Moulton , AL | 35650 | $176.4M |
| Muscle Shoals Branch | Muscle Shoals , AL | 35661 | $168.4M |
| Decatur Crossings Branch | Decatur , AL | 35603 | $104.1M |
| Killen Branch | Killen , AL | 35645 | $101.4M |
| Athens Branch | Athens , AL | 35611 | $87.9M |
| Cox Creek Branch | Florence , AL | 35630 | $84.4M |
| Decatur Main Branch | Decatur , AL | 35601 | $83.8M |
| Athens East Branch | Athens , AL | 35613 | $81.9M |
| Bank Street Branch | Rogersville , AL | 35652 | $78.6M |
| Tuscumbia Branch | Tuscumbia , AL | 35674 | $72.7M |
| Hartselle Branch | Hartselle , AL | 35640 | $66.8M |
| Darby Place Branch | Florence , AL | 35630 | $53.8M |
| East Lawrence Branch | Moulton , AL | 35650 | $52.6M |
| Madison Branch | Madison , AL | 35758 | $51.6M |
| Decatur Beltline Branch | Decatur , AL | 35601 | $49.5M |
| Russellville Village Square Branch | Russellville , AL | 35653 | $43.6M |
| Lexington Branch | Lexington , AL | 35648 | $33.1M |
| Florence Square Branch | Florence , AL | 35630 | $27.6M |
| West Madison Branch | Madison , AL | 35756 | $24.0M |
| Russellville Branch | Russellville , AL | 35653 | $23.4M |
| Leighton Branch | Leighton , AL | 35646 | $21.8M |
| Red Bay Branch | Red Bay , AL | 35582 | $20.2M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| December 6, 2008 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| December 6, 2008 | Structure Change | Acquired The Citizens Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| December 1, 1982 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| December 1, 1982 | Structure Change | Acquired The Bank of Florence Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 4 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 1.7% of deposits in AL, rank 11 of 131 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 1 loans, $700K approved, $700K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2011 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Mortgage lending (HMDA), Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Bank Independent
What are Bank Independent's total assets?
As of the Q2 2026 filing, Bank Independent reported total assets of $2.86 billion in its FFIEC call report.
Where is Bank Independent headquartered?
It is headquartered in Sheffield, AL, United States.
When was Bank Independent founded?
It was established in 1947, per the FDIC institution directory.
Is Bank Independent FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #16604). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Bank Independent?
Bank Independent's primary federal regulator is the Federal Reserve.
What is Bank Independent's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 13.22% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Bank Independent operate?
It operates 34 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Bank Independent's Texas Ratio?
Its Texas Ratio is 1.44% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was Bank Independent previously called?
The charter now named Bank Independent has also operated as First Colbert Bank (1965-1982), per FDIC structure-change records.
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