Independence Bank

Headquarters

4525 Macarthur Boulevard
Newport Beach, CA 92660
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Independence Bank is an FDIC insured institution located in Newport Beach, CA. It was founded in 2004 and has approximately $0.42 billion in assets.

FDIC Insured Yes
FDIC Certificate # 57688
Date Established 2004
Assets $ 426.22 million
Loans $ 337.22 million
Deposits $ 358.29 million
Capital $ 48.35 million
 

For a more detailed analysis of Independence Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Independence Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
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Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.570% 2.500% 0.88 $2,312 $988 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
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4.000 %
$0 Learn More
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Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
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Note to Independence Bank
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Branches

Independence Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Independence Bank Locations


Financial Details

Independence Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Independence Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Independence Bank U.S. Bank Average
4.46% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Independence Bank had $2,329,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $48,347,000 in equity and $3,930,000 in loans loss reserves. That gives it a Texas Ratio of 4.46%.

Return on Equity
Independence Bank U.S. Bank Average
7.54% 7.80%

Independence Bank has a Return on Equity of 7.54% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Independence Bank U.S. Bank Average
11.34% 12.68%

Independence Bank has a Capitalization of 11.34% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Independence Bank Balance Sheet Analysis

As of September 30, 2014, Independence Bank had assets of $423,151,000, loans of $337,219,000, and deposits of $358,291,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 337.22 million
Loan loss allowance $ 3.93 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 358.29 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 426.22 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Independence Bank’s loan portfolio are Commercial Real Estate, Multifamily Mortgages, and Commercial and Industrial Loans.

Compared to other banks in California, Independence Bank has a significantly higher percent of Multifamily Mortgages, Small Business Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 2.24
Multifamily
Mortgages
29.42
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 15.40
Construction and Development Loans 0.88
Commercial Real Estate 51.51
Commercial and Industrial Loans 16.79
Farm Loans 0.00

Frequently Asked Questions About Independence Bank

Branches and Savings

Is Independence Bank FDIC insured?

Yes. It is covered under FDIC Certificate #57688.

Why does Independence Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Independence Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Independence Bank a commercial bank?

Yes

Where are Independence Bank locations?

See branch locations nearby.

Is Independence Bank open on Saturdays?

Is Independence Bank open on Sundays?

What time does Independence Bank open?

What time does Independence Bank close?

Are Independence Bank ATMs Open 24/7?

Do Independence Bank ATMs accept cash deposits?

Can Independence Bank customers use other ATMs?

Do Independence Bank branches have notaries?

Will Independence Bank notarize my document?

What address for Independence Bank should I put for incoming ACH transfers?

Will the Independence Bank branch print checks?

Do Independence Bank checks expire?

Does Independence Bank require US citizenship to open account?

Can Independence Bank close my account?

Does Independence Bank Report to credit bureaus?

Does Independence Bank Use Equifax?

What is Independence Bank's ACH Routing Number?

What is Independence Bank's SWIFT code?

Products

Does Independence Bank offer mortgages?

Compare mortgage rates here.

Does Independence Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Independence Bank offer personal loans?

Compare personal loan rates here.

Does Independence Bank offer student loans?

Will Independence Bank cash a check?

Will Independence Bank redeem a savings bond?

Does Independence Bank cash savings bonds?

Will Independence Bank cash money orders?

Can Independence Bank issue a money order?

Does Independence Bank do currency exchange?

Background on The Bank

Who owns Independence Bank?

How long has Independence Bank been around?

Can Independence Bank transfer to other banks?

Does Independence Bank have quick pay?

Does Independence Bank accept rolled coins?

Will Independence Bank accept loose change?

Where is Independence Bank headquarters?

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