Peoples Independent Bank
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Data as of · sourced from FFIEC call reports. How we update
Peoples Independent Bank is an FDIC-insured commercial bank headquartered in Boaz, AL, established in 1988 (FDIC certificate 27233), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $485.7M, up 5.2% from Q2 2025, the 30th largest of 93 banks headquartered in Alabama. Its CET1 capital ratio was 14.06% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 27233
- Headquarters
- Boaz, AL
- Established
- 1988
- Total assets, Q2 2026
- $485.7M
- Assets vs Q2 2025
- +5.2%
- CET1 ratio, Q2 2026
- 14.06%
- Domestic offices
- 9 FDIC institution directory, current count
- Routing number
- 062203942
- Latest call report
- Q2 2026, FFIEC 041 · Peoples Independent Bank call report
- Holding company
- PEOPLES INDEPENDENT BANCSHARES, INC.
- Asset rank in state
- 30th of 93 in Alabama
Peoples Independent Bank is one of the more profitable banks of its size. Based in Boaz, Alabama, it had $486 million in assets at June 30, 2026, up 5.2% from a year earlier. It returns 19.7% a year on shareholders' equity, higher than about three-quarters of the 2,660 banks with $100 million to $1 billion in assets (median 12.5%). It also shrank its loan book 1.2% over the year, lower than about three-quarters of banks its size (median 5.5%). Much of that comes from cost control: it spends about 51 cents to bring in each dollar of revenue.
Loans and deposits moved in opposite directions: over the year loans fell 1.2% and deposits rose 5.1%. Problem loans, meaning loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.30% of loans from 0.19% a year earlier. Where it has less room is capital: it funds 9.41% of its assets with Tier 1 capital, lower than about three-quarters of banks its size (median 10.99%).
As of June 30, 2026, Peoples Independent Bank reported a CET1 capital ratio of 14.06%, a return on assets of 1.66%, a nonperforming-loan ratio of 0.30% and a Texas ratio of 1.37%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, Peoples Independent Bank is the 30th largest of the 93 banks headquartered in Alabama. Quarter on quarter (Q1 2026 to Q2 2026), its total assets were flat, loans fell 5.2% and deposits fell 0.2%. Non-owner-occupied commercial real estate loans made up 33.0% of its total loans on June 30, 2026, its largest category; next came 1-4 family residential loans at 23.5%. The FDIC Summary of Deposits lists 9 offices for it, in 8 cities in AL; its Boaz office books 38% of its branch deposits. Judged on its Q2 2026 call report, Peoples Independent Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 121 Billy B. Dyar Boulevard, Boaz, AL 35957
- County
- Marshall
- Metro Area
- Albertville, AL
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Atlanta (Region 5)
- Federal Reserve member
- No
- Federal Reserve district
- District 6, Atlanta
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 041
- Established
- May 2, 1988
- Domestic offices
- 9 FDIC institution directory, current count
- Employees (FTE)
- 78
- Domestic deposits
- $441.3M
- Allowance for credit losses
- $1.8M
- Net charge-offs (YTD)
- $34K
- Average total assets
- $479.6M
- Average total loans
- $195.1M
- Average interest-bearing deposits
- $348.1M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- May 2, 1988
- FDIC Cert
- 27233
- Fed RSSD
- 1188987
- Website
- http://www.pibonline.com →
- Parent Holding Company
- PEOPLES INDEPENDENT BANCSHARES, INC. (RSSD 1918755)
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
Over the 12 quarters to Q2 2026, Peoples Independent Bank's total assets ran between $442.0M (Q3 2024) and $485.7M (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
$485.7M total assets against $461.6M; $444.8M total liabilities against $423.8M.
$187.8M net loans and leases against $190.0M; $441.3M total deposits against $419.9M.
$136.2M securities against $178.3M; $79.7M cash and balances due against $57.6M.
$6.2M total interest income against $6.2M; $2.2M total interest expense against $2.1M.
$4.0M net interest income against $4.1M.
$562K total noninterest income against $615K; $2.4M total noninterest expense against $2.6M.
$0 provision for credit losses against $30K.
$2.0M net income against $1.9M.
1.66% return on assets against 1.68%; 3.45% net interest margin against 3.73%.
14.06% CET1 capital ratio against 14.62%; 9.41% tier 1 leverage ratio against 9.56%.
Inside the full Peoples Independent Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freePeoples Independent Bank rankings
Its closest position to the top of a national ranking is 854 of 3,606, for efficiency ratio; its furthest is 2,521 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 1.54% (Q1 2025) to 1.97% (Q3 2024) and its net interest margin ran from 3.45% (Q2 2026) to 4.20% (Q4 2024).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 14.06% | 1.66% | 0.30% | 1.37% | 3.45% |
| Q1 2026 | 14.40% | 1.58% | 0.27% | 1.32% | 3.61% |
| Q4 2025 | 15.54% | 1.71% | 0.16% | 0.74% | 3.75% |
| Q3 2025 | 14.87% | 1.70% | 0.15% | 0.74% | 3.91% |
| Q2 2025 | 14.62% | 1.68% | 0.19% | 0.92% | 3.73% |
| Q1 2025 | 15.60% | 1.54% | 0.28% | 1.36% | 3.65% |
| Q4 2024 | 15.33% | 1.79% | 0.39% | 2.02% | 4.20% |
| Q3 2024 | 14.83% | 1.97% | 0.41% | 2.02% | 4.14% |
Swipe the table sideways to see every column.
Branch Network
View all 9 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 |
|---|---|---|---|
| Peoples Independent Bank (main office) | Boaz , AL | 35957 | $167.7M |
| Horizon Bank Branch | Fyffe , AL | 35971 | $83.0M |
| Scottsboro Branch | Scottsboro , AL | 35768 | $68.2M |
| Hokes Bluff Branch | Gadsden , AL | 35903 | $29.5M |
| Gurley Office Branch | Gurley , AL | 35748 | $27.1M |
| Douglas Branch | Horton , AL | 35980 | $20.2M |
| Steele Branch | Steele , AL | 35987 | $17.9M |
| Powell Branch | Fyffe , AL | 35971 | $16.1M |
| Sylvania Branch | Sylvania , AL | 35988 | $11.7M |
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 |
|---|---|---|---|
| April 1, 2017 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| April 1, 2017 | Structure Change | Acquired Horizon Bank 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 2 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.3% of deposits in AL, rank 46 of 131 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- SBA 7(a) lending
- 2 loans, $300K approved, $150K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2001 (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 Peoples Independent Bank
What are Peoples Independent Bank's total assets?
As of the Q2 2026 filing, Peoples Independent Bank reported total assets of $485.7 million in its FFIEC call report.
Where is Peoples Independent Bank headquartered?
It is headquartered in Boaz, AL, United States.
When was Peoples Independent Bank founded?
It was established in 1988, per the FDIC institution directory.
Is Peoples Independent Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #27233). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Peoples Independent Bank?
Peoples Independent Bank's primary federal regulator is the FDIC.
What is Peoples Independent Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 14.06% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Peoples Independent Bank operate?
It operates 9 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Peoples Independent Bank's Texas Ratio?
Its Texas Ratio is 1.37% 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.
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