Independent National Bank

Headquarters

60 S.W. 17th Street
Ocala, FL 34471
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
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

Independent National Bank is an FDIC insured institution located in Ocala, FL. It was founded in 1988 and has approximately $0.16 billion in assets.

Community National Bank At Bartow, Bartow, Florida, was closed August 20, 2010 by the Office of the Comptroller of the Currency, which then appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for the bank. To protect depositors, the FDIC entered into purchase and assumption agreements with CenterState Bank of Florida, National Association, Winter Haven, Florida, to assume all the deposits and essentially all the assets of the failed bank.

FDIC Insured Yes
FDIC Certificate # 27344
Date Established 1988
Assets $ 168.90 million
Loans $ 126.93 million
Deposits $ 151.68 million
Capital $ 6.68 million
 

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

Deposit Rates - September 23, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - September 23, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Independent National 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

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4.114% 3.990% 1.00 $3,750 $1,193 Learn More
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Featured - Connecticut Home Equity Line Of Credit Rates 2020

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Note to Independent National Bank
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Branches

Independent National 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


Independent National Bank Locations


Financial Details

Independent National Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Independent National 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
Independent National Bank U.S. Bank Average
185.07% 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, Independent National Bank had $21,241,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $6,677,000 in equity and $4,800,000 in loans loss reserves. That gives it a Texas Ratio of 185.07%.

Return on Equity
Independent National Bank U.S. Bank Average
-72.65% 7.80%

Independent National Bank has a Return on Equity of -72.65% 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
Independent National Bank U.S. Bank Average
3.95% 12.68%

Independent National Bank has a Capitalization of 3.95% 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.

Independent National Bank Balance Sheet Analysis

As of November 30, -0001, Independent National Bank had assets of $156,218,000, loans of $126,931,000, and deposits of $151,677,000. 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 $ 126.93 million
Loan loss allowance $ 4.80 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 $ 151.68 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 $ 168.90 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 Independent National Bank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.

Compared to other banks, Independent National Bank’s loan portfolio does not show any specific loan specialty.

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 0.00
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Frequently Asked Questions About Independent National Bank

Branches and Savings

Is Independent National Bank FDIC insured?

Yes. It is covered under FDIC Certificate #27344.

Why does Independent National Bank pay such low interest on savings accounts?

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

Why are Independent National Bank CD rates not competitive?

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

Is Independent National Bank a commercial bank?

Yes

Where are Independent National Bank locations?

See branch locations nearby.

Is Independent National Bank open on Saturdays?

Is Independent National Bank open on Sundays?

What time does Independent National Bank open?

What time does Independent National Bank close?

Are Independent National Bank ATMs Open 24/7?

Do Independent National Bank ATMs accept cash deposits?

Can Independent National Bank customers use other ATMs?

Do Independent National Bank branches have notaries?

Will Independent National Bank notarize my document?

What address for Independent National Bank should I put for incoming ACH transfers?

Will the Independent National Bank branch print checks?

Do Independent National Bank checks expire?

Does Independent National Bank require US citizenship to open account?

Can Independent National Bank close my account?

Does Independent National Bank Report to credit bureaus?

Does Independent National Bank Use Equifax?

What is Independent National Bank's ACH Routing Number?

What is Independent National Bank's SWIFT code?

Products

Does Independent National Bank offer mortgages?

Compare mortgage rates here.

Does Independent National Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Independent National Bank offer personal loans?

Compare personal loan rates here.

Does Independent National Bank offer student loans?

Will Independent National Bank cash a check?

Will Independent National Bank redeem a savings bond?

Does Independent National Bank cash savings bonds?

Will Independent National Bank cash money orders?

Can Independent National Bank issue a money order?

Does Independent National Bank do currency exchange?

Background on The Bank

Who owns Independent National Bank?

How long has Independent National Bank been around?

Can Independent National Bank transfer to other banks?

Does Independent National Bank have quick pay?

Does Independent National Bank accept rolled coins?

Will Independent National Bank accept loose change?

Where is Independent National Bank headquarters?

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