Southern Independent Bank

503 North Main Street
Opp, AL 36467

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 58357
Date Established 2006
Assets $0.23 billion
Loans $0.13 billion
Deposits $0.19 billion
Capital $0.03 billion

Southern Independent Bank is an FDIC insured institution located in Opp, AL. It was founded in 2006 and has approximately $0.23 billion in assets. Customers can open an account at one of its 2 branches.

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

Deposit Rates - September 19, 2019

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.75% $2,500 $9,999 Learn MoreShow Less
Money Market
1.00% $10,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.70% $2,500 - Learn MoreShow Less
6 Mo CD
1.40% $1,000 - Learn MoreShow Less
12 Mo CD
2.30% $1,000 - Learn MoreShow Less
18 Mo CD
2.50% $1,000 - Learn MoreShow Less
24 Mo CD
2.55% $500 - Learn MoreShow Less
36 Mo CD
2.60% $500 - Learn MoreShow Less
60 Mo CD
2.70% $500 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
2.35% $1,000 $99,999 Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.85% $250 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
0.20% $100 $7,499 Learn MoreShow Less

Loan Rates - September 19, 2019

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Southern Independent 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 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
3.648% 3.625% 0.25 $712 $1,141 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
4.990% 4.990% 0.00 $0 $1,341 Learn More
Rocket Mortgage
NMLS ID: 3030
4.875% 4.875% 0.00 $0 $1,324 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info

Note to Southern Independent Bank
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Branches

Southern Independent 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


Southern Independent Bank Locations


Financial Details

Southern Independent Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Southern Independent 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
Southern Independent Bank U.S. Bank Average
2.49% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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, 2019, Southern Independent Bank had $635,000 in non-current loans and $87,000 in owned real estate. To cover these potential losses it had $27,316,000 in equity and $1,670,000 in loans loss reserves. That gives it a Texas Ratio of 2.49%.

Return on Equity
Southern Independent Bank U.S. Bank Average
9.68% 9.47%

Southern Independent Bank has a Return on Equity of 9.68% versus the BestCashCow average of 9.47%. 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
Southern Independent Bank U.S. Bank Average
11.65% 12.49%

Southern Independent Bank has a Capitalization of 11.65% versus the BestCashCow average of 12.49. 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.

Southern Independent Bank Balance Sheet Analysis

As of March 31, 2019, Southern Independent Bank had assets of $234,433,000, loans of $126,041,000, and deposits of $188,002,000. 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, 2019
ASSETS
Cash & Balances due from depository institutions $0.01 billion
Interest-bearing balances $0.01 billion
Total securities $0.08 billion
Federal funds sold and reverse repurchase $0.01 billion
Net loans and leases $0.13 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.01 billion
     Total Assets $0.21 billion
LIABILITIES
Total deposits $0.19 billion
      Interest-bearing deposits $0.15 billion
      Deposits held in domestic offices $0.19 billion
      % insured (estimated) 80.12%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.02 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.21 billion
      Shareholders’ Equity $0.03 billion

Summary Income Statement

March 31, 2019
INCOME AND EXPENSES
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

The top three loan types in Southern Independent Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial and Industrial Loans, and Commercial Real Estate.

Compared to other banks in Alabama, Southern Independent Bank has a significantly higher percent of Commercial and Industrial 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 35.57
Multifamily
Mortgages
0.11
Credit Card Loans 0.00
Consumer Auto Loans 3.01
Small Business Loans 0.00
Construction and Development Loans 5.38
Commercial Real Estate 20.23
Commercial and Industrial Loans 28.04
Farm Loans 0.67

Frequently Asked Questions About Southern Independent Bank

Branches and Savings

Is Southern Independent Bank FDIC insured?

Yes. It is covered under FDIC Certificate #58357.

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

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

Why are Southern Independent Bank CD rates not competitive?

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

Is Southern Independent Bank a commercial bank?

Yes

Where are Southern Independent Bank locations?

See branch locations nearby.

Is Southern Independent Bank open on Saturdays?

Is Southern Independent Bank open on Sundays?

What time does Southern Independent Bank open?

What time does Southern Independent Bank close?

Are Southern Independent Bank ATMs Open 24/7?

Do Southern Independent Bank ATMs accept cash deposits?

Can Southern Independent Bank customers use other ATMs?

Do Southern Independent Bank branches have notaries?

Will Southern Independent Bank notarize my document?

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

Will the Southern Independent Bank branch print checks?

Do Southern Independent Bank checks expire?

Does Southern Independent Bank require US citizenship to open account?

Can Southern Independent Bank close my account?

Does Southern Independent Bank Report to credit bureaus?

Does Southern Independent Bank Use Equifax?

What is Southern Independent Bank's ACH Routing Number?

What is Southern Independent Bank's SWIFT code?

Products

Does Southern Independent Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Southern Independent Bank offer personal loans?

Compare personal loan rates here.

Does Southern Independent Bank offer student loans?

Will Southern Independent Bank cash a check?

Will Southern Independent Bank redeem a savings bond?

Does Southern Independent Bank cash savings bonds?

Will Southern Independent Bank cash money orders?

Can Southern Independent Bank issue a money order?

Does Southern Independent Bank do currency exchange?

Background on The Bank

Who owns Southern Independent Bank?

How long has Southern Independent Bank been around?

Can Southern Independent Bank transfer to other banks?

Does Southern Independent Bank have quick pay?

Does Southern Independent Bank accept rolled coins?

Will Southern Independent Bank accept loose change?

Where is Southern Independent Bank headquarters?

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