Southern Independent Bank


503 North Main Street
Opp, AL 36467
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.50% 0.65% →
1-Year CD 0.23% 0.70% →
2-Year CD 0.30% 0.75% →
5-Year CD 0.45% 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Southern Independent Bank is an FDIC insured institution located in Opp, AL. It was founded in 2006 and has approximately $0.3 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 58357
Date Established 2006
Assets $ 299.16 million
Loans $ 139.46 million
Deposits $ 245.50 million
Capital $ 32.15 million

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 - June 16, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
0.50% $2,500 $4,999 Learn More
Money Market
0.55% $2,500 $2,999 Learn More
Money Market
0.70% $10,000 - Learn More
6 Mo CD
0.15% $10,000 $14,999 Learn More
12 Mo CD
0.23% $10,000 $14,999 Learn More
24 Mo CD
0.30% $10,000 $14,999 Learn More
36 Mo CD
0.33% $10,000 $14,999 Learn More
60 Mo CD
0.45% $10,000 - Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.20% $2,500 $3,499 Learn MoreShow Less

Loan Rates - June 16, 2021

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 2021

Lender APR Rate (%) Monthly
Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.690% 2.625%
0.88 points
$2,115 fees
$1,005 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR 1.990 %
After Intro: 4.840 %
Intro Period: 12 months
$0 Learn More
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Bethpage Federal Credit Union
Bethpage Federal Credit Union
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Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
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Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
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Note to Southern Independent Bank
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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 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
1.68% 5.49%

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 December 31, 2020, Southern Independent Bank had $417,000 in non-current loans and $152,000 in owned real estate. To cover these potential losses it had $32,147,000 in equity and $1,730,000 in loans loss reserves. That gives it a Texas Ratio of 1.68%.

Return on Equity
Southern Independent Bank U.S. Bank Average
9.44% 9.24%

Southern Independent Bank has a Return on Equity of 9.44% versus the BestCashCow average of 9.24%. 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.

Southern Independent Bank U.S. Bank Average
10.75% 11.96%

Southern Independent Bank has a Capitalization of 10.75% versus the BestCashCow average of 11.96. 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 December 31, 2020, Southern Independent Bank had assets of $299,162,000, loans of $139,457,000, and deposits of $245,500,000. 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

December 31, 2020
Cash & Balances due from depository institutions $ 19.02 million
Interest-bearing balances $ 8.55 million
Total securities $ 95.14 million
Federal funds sold and reverse repurchase $ 31.05 million
Net loans and leases $ 139.46 million
Loan loss allowance $ 1.73 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.15 million
Goodwill and other intangibles N.A.
All other assets $ 9.50 million
     Total Assets $ 267.02 million
Total deposits $ 245.50 million
      Interest-bearing deposits $ 179.38 million
      Deposits held in domestic offices $ 245.50 million
      % insured (estimated) 77.24%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 17.75 million
Subordinated debt N.A.
All other liabilities $ 3.77 million
      Total Liabilities $ 267.02 million
      Shareholders’ Equity $ 32.15 million

Summary Income Statement

December 31, 2020
Total Interest Income $ 10.07 million
Total Interest Expense $ 2.41 million
Net interest income $ 7.66 million
Provision for loan and lease losses $ 0.28 million
Total non interest income $ 1.19 million
Total non interest expense $ 5.20 million
Pre-tax Net Operating Income $ 3.37 million

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, Southern Independent 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 36.77
Credit Card Loans 0.00
Consumer Auto Loans 1.93
Small Business Loans 16.15
Construction and Development Loans 4.83
Commercial Real Estate 20.77
Commercial and Industrial Loans 28.77
Farm Loans 0.10

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?


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?


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?

Customer Reviews for Southern Independent Bank

  • July 27, 2020 |

    If you don't mind the web site for your account on the week ends being down. This is the bank for you. When you have a problem you have to wait one to two days for someone in charge to call you back after leaving a message.

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