Bank Independent Mortgage Rates, Fees & Info

Sheffield, AL

LEI: 549300A7W1NQ3BYZCB68

Tax ID: 63-0260951

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Bank Independent is a smaller bank specializing in Refi and Home Purchase loans. Bank Independent has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Florence, Huntsville, Decatur, Birmingham, and Cullman among others. We have data for 33 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Independent has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bank Independent is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 2.45% 4/21/24
    30 Year Conventional Purchase 6.57% 4/21/24
    30 Year Conventional Refi 6.86% 4/21/24
    30 Year Cash-out Refi 6.49% 4/21/24
    30 Year FHA Purchase 7.01% 4/21/24
    30 Year FHA Refi 6.27% 4/21/24
    30 Year VA Purchase 5.91% 4/21/24
    30 Year USDA Purchase 6.44% 4/21/24
    15 Year Conventional Purchase 6.01% 4/21/24
    15 Year Conventional Refi 7.64% 4/21/24
    15 Year Cash-out Refi 7.64% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Bank Independent Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Bank Independent. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,484

    Origination Dollar Volume (All Markets)

    $248,840,000

    Employee count

    566 Show all (5) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 774 $114,480,000 $147,907 $3,070 3.90%
    HUNTSVILLE, AL (FHA|USDA|VA) 409 $84,345,000 $206,222 $4,178 3.45%
    DECATUR, AL (FHA|USDA|VA) 175 $23,725,000 $135,571 $3,170 4.02%
    Outside of Metro Areas 49 $6,885,000 $140,510 $3,604 4.14%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 11 $3,605,000 $327,727 $4,276 3.51%
    Cullman, AL (FHA|USDA|VA) 14 $3,100,000 $221,429 $4,895 3.29%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $1,310,000 $327,500 $2,952 3.40%
    Lawrenceburg, TN (FHA|USDA|VA) 8 $1,220,000 $152,500 $3,779 3.51%
    Hudson, NY (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $1,168 4.79%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 5 $1,025,000 $205,000 $6,098 4.18%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $965,000 $321,667 $2,755 3.08%
    Scottsboro, AL (FHA|USDA|VA) 3 $885,000 $295,000 $4,110 3.62%
    Albertville, AL (FHA|USDA|VA) 3 $855,000 $285,000 $3,571 3.99%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $830,000 $415,000 $14,738 2.88%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $515,000 $515,000 $9,036 2.38%
    Alexander City, AL (FHA|USDA|VA) 1 $495,000 $495,000 $3,534 2.50%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $325,000 $325,000 $6,649 4.99%
    MOBILE, AL (FHA|USDA|VA) 3 $315,000 $105,000 $3,670 4.04%
    MORRISTOWN, TN (FHA|USDA|VA) 1 $295,000 $295,000 $3,652 2.50%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $285,000 $285,000 $3,557 2.13%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.00%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $235,000 $235,000 $5,659 3.13%
    JACKSON, MS (FHA|USDA|VA) 1 $225,000 $225,000 $273 3.99%
    DOTHAN, AL (FHA|USDA|VA) 1 $225,000 $225,000 $4,606 2.50%
    Columbus, MS (FHA|USDA|VA) 1 $225,000 $225,000 $1,776 4.49%
    Tupelo, MS (FHA|USDA|VA) 3 $195,000 $65,000 $2,691 3.46%
    Fort Payne, AL (FHA|USDA|VA) 1 $145,000 $145,000 $4,061 2.75%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $145,000 $145,000 $4,977 3.38%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $145,000 $145,000 $3,722 3.13%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $135,000 $135,000 $3,736 2.50%
    SAVANNAH, GA (FHA|USDA|VA) 1 $95,000 $95,000 $3,706 3.38%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.49%
    Starkville, MS (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.00%
    Bank Independent's top markets include Florence, Huntsville, Decatur, Birmingham, and Cullman among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Bank Independent based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Florence Federal Credit Union
    Similarity Rank: 72
    TVA Community Credit Union
    Similarity Rank: 260
    Listerhill Credit Union
    Similarity Rank: 464
    Consumer First Mortgage, Inc.
    Similarity Rank: 532
    Independent Bank
    Similarity Rank: 900
    DSLD MORTGAGE, LLC
    Similarity Rank: 2420
    Total Media Management, LLC
    Similarity Rank: 3250
    CB&S Bank, Inc.
    Similarity Rank: 3750
    SOVEREIGN LENDING GROUP INCORPORATED
    Similarity Rank: 4620
    COMMUNITY MORTGAGE CORPORATION
    Similarity Rank: 4810

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,181 $208,205,000 $176,296 $3,307 3.76%
    HELOC 227 $21,545,000 $94,912 n/a 4.17%
    VA 49 $14,645,000 $298,878 $5,835 2.74%
    USDA 15 $2,295,000 $153,000 $4,851 2.83%
    FHA 12 $2,150,000 $179,167 $6,405 2.79%

    For 2020, Bank Independent's most frequently originated type of loan was Conventional, with 1,181 originations. Their 2nd most popular type was HELOC, with 227 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 741 $117,415,000 $158,455 $2,863 4.02%
    Home Purchase 433 $84,835,000 $195,924 $4,185 3.53%
    Cash Out Refi 169 $33,885,000 $200,503 $3,867 2.77%
    Other 111 $10,435,000 $94,009 $1,836 4.39%
    Home Improvement 30 $2,270,000 $75,667 $1,922 4.59%

    For 2020, Bank Independent's most frequently cited loan purpose was Refi, with 741 originations. The 2nd most popular reason was Home Purchase, with 433 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 646 $143,150,000 $221,594 $4,045 3.08%
    5 Year 269 $29,815,000 $110,836 $1,265 5.26%
    10 Year 245 $24,795,000 $101,204 $1,648 4.27%
    15 Year 181 $27,565,000 $152,293 $3,062 3.15%
    20 Year 62 $9,750,000 $157,258 $3,183 3.31%
    Other 44 $7,530,000 $171,136 $1,060 4.69%
    1 Year 22 $4,380,000 $199,091 $2,427 4.74%
    3 Year 15 $1,855,000 $123,667 $1,814 4.51%

    For 2020, Bank Independent's most frequently cited loan duration was 30 Year, with 646 originations. The 2nd most popular length was 5 Year, with 269 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 312 $52,530,000 $168,365
    $2k-3k 283 $52,125,000 $184,187
    $1k-2k 214 $29,550,000 $138,084
    $3k-4k 155 $44,505,000 $287,129
    $4k-5k 36 $12,490,000 $346,944
    $5k+ 16 $7,940,000 $496,250

    Bank Independent's average total fees were $4,045, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 312 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 384 $56,700,000 $147,656
    <2.5% 334 $71,580,000 $214,311
    2.5-3% 294 $62,620,000 $212,993
    4-5% 244 $37,600,000 $154,098
    5-6% 132 $14,370,000 $108,864
    6-7% 64 $4,400,000 $68,750
    7-8% 26 $910,000 $35,000
    Over 8% 2 $240,000 $120,000

    During 2020, Bank Independent's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 3-4%, with 384 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 560 $30,980,000 $55,321 $2,007 4.59%
    $100k-200k 465 $68,115,000 $146,484 $3,236 3.36%
    $200k-400k 367 $101,945,000 $277,779 $4,542 3.16%
    $400k-600k 78 $36,920,000 $473,333 $5,072 3.19%
    $600k-1MM 12 $8,540,000 $711,667 $6,747 4.15%
    $1MM+ 2 $2,340,000 $1,170,000 $823 4.59%

    2020 saw Bank Independent place emphasis on $100,000 or less loans with 560 originations, totaling $30,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 278 $53,590,000 $192,770 $3,803 3.49%
    $50k or less 270 $25,810,000 $95,593 $2,702 3.96%
    $50k-75k 236 $33,350,000 $141,314 $3,365 3.53%
    $75k-100k 212 $36,050,000 $170,047 $3,819 3.56%
    $150k-250k 189 $42,475,000 $224,735 $4,289 3.53%
    $250k+ 110 $28,820,000 $262,000 $4,537 4.20%

    Bank Independent lent most frequently to those with incomes in the $100k-150k range, with 278 originations. The second most popular income band? $50k or less, with 270 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 301 $51,295,000 $170,415 $3,557 3.28%
    <20% 221 $35,065,000 $158,665 $3,399 3.31%
    30-36% 180 $32,580,000 $181,000 $3,995 3.18%
    40% 39 $7,375,000 $189,103 $3,877 3.18%
    42% 32 $5,610,000 $175,313 $4,133 3.08%
    39% 31 $7,295,000 $235,323 $3,675 3.43%
    38% 31 $6,085,000 $196,290 $3,461 3.13%
    37% 26 $5,120,000 $196,923 $4,073 3.22%
    44% 25 $5,355,000 $214,200 $4,707 3.33%
    36% 25 $4,515,000 $180,600 $3,618 3.43%
    43% 25 $4,465,000 $178,600 $3,454 3.31%
    >60% 24 $3,440,000 $143,333 $1,509 5.20%
    45% 20 $4,040,000 $202,000 $4,185 3.37%
    41% 20 $2,870,000 $143,500 $2,812 3.61%
    47% 19 $3,255,000 $171,316 $3,530 3.52%
    46% 18 $2,890,000 $160,556 $2,869 3.57%
    50-60% 17 $1,935,000 $113,824 $1,901 4.57%
    48% 13 $2,705,000 $208,077 $3,758 3.46%
    49% 11 $2,175,000 $197,727 $4,492 3.15%

    Bank Independent lent most frequently to those with DTI ratios of 20-30%, with 301 originations. The next most common DTI ratio? <20%, with 221 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,256 $209,030,000 $166,425 $3,418 3.70%
    Not applicable 124 $18,660,000 $150,484 $0 4.80%
    Black 46 $10,670,000 $231,957 $4,472 3.61%
    Asian 30 $5,270,000 $175,667 $4,003 3.45%
    American Indian 12 $2,650,000 $220,833 $4,256 2.67%
    Asian Indian 8 $1,300,000 $162,500 $2,952 4.26%
    Not provided 5 $645,000 $129,000 $4,130 3.25%
    Other Asian 2 $370,000 $185,000 $3,296 2.88%
    Other Pacific Islander 1 $245,000 $245,000 $3,992 3.99%

    Approval Rates

    Total approvals of all applications
    93.54%

    Bank Independent has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.31%

    Bank Independent has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,484 $248,840,000 $167,682

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 18 $5,500,000 $305,556
    Single Family (1-4 Units):Manufactured 23 $1,255,000 $54,565
    Single Family (1-4 Units):Site-Built 1,443 $242,085,000 $167,765

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 162 $14,870,000 $91,790 $2,160 4.27%
    40-60% 229 $34,825,000 $152,074 $2,979 3.88%
    60-80% 525 $96,385,000 $183,590 $3,540 3.63%
    80-100% 420 $88,780,000 $211,381 $3,874 3.51%
    Over 100% 23 $6,955,000 $302,391 $7,381 3.54%
    Under 20% 108 $4,150,000 $38,426 $932 4.75%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    BANC ONE MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank Independent 101 South Clinton Street Athens, AL 35611 Full Service B&M $55,345
    Bank Independent 102 Bank Street Rogersville, AL 35652 Full Service B&M $62,060
    Bank Independent 102 Second Avenue Southeast Decatur, AL 35601 Full Service B&M $66,885
    Bank Independent 1081 Highway 72 Killen, AL 35645 Full Service B&M $69,089
    Bank Independent 1109 Avalon Avenue Muscle Shoals, AL 35661 Full Service B&M $117,406
    Bank Independent 11250 Highway 101 Lexington, AL 35648 Full Service B&M $29,052
    Bank Independent 117 4th Avenue Southeast Red Bay, AL 35582 Full Service B&M $19,240
    Bank Independent 119 North Main Street Tuscumbia, AL 35674 Full Service B&M $78,251
    Bank Independent 132 Holmes Ave Nw Huntsville, AL 35801 Full Service B&M $60,690
    Bank Independent 13566 Highway 43 Russellville, AL 35653 Full Service B&M $58,605
    Bank Independent 1425 Beltline Road Sw Decatur, AL 35603 Full Service B&M $38,026
    Bank Independent 15259 Court Street Moulton, AL 35650 Full Service B&M $115,940
    Bank Independent 1701 Darby Drive Florence, AL 35630 Full Service B&M $37,642
    Bank Independent 210 South Pine Street Florence, AL 35630 Full Service B&M $176,041
    Bank Independent 22015 Highway 72 East Athens, AL 35613 Full Service B&M $70,927
    Bank Independent 22899 Al Highway 24 Moulton, AL 35650 Full Service B&M $31,913
    Bank Independent 2606 Hwy 31 Decatur, AL 35603 Full Service B&M $78,513
    Bank Independent 2902 Florence Boulevard Florence, AL 35630 Full Service B&M $22,967
    Bank Independent 360 Alabama Street Courtland, AL 35618 Full Service B&M $13,160
    Bank Independent 401 North Jackson Avenue Russellville, AL 35653 Full Service B&M $16,785
    Bank Independent 426 Veterans Drive Florence, AL 35630 Limited, Mobile/Seasonal Office $7,218
    Bank Independent 710 South Montgomery Avenue Sheffield, AL 35660 Full Service B&M $229,562
    Bank Independent 729 East Second Street Sheffield, AL 35660 Limited, Drive-thru $0
    Bank Independent 7564 Highway 72 West Ste A1 Madison, AL 35758 Full Service B&M $11,788
    Bank Independent 8260 Hwy 72 West Cherokee, AL 35616 Full Service B&M $6,045
    Bank Independent 863 Cox Creek Parkway Florence, AL 35630 Full Service B&M $64,587
    Bank Independent 8720 Main Street Leighton, AL 35646 Full Service B&M $15,642
    Bank Independent 902 U.S. Highway 31, North Hartselle, AL 35640 Full Service B&M $51,028

    For 2020, Bank Independent had 28 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $89,421
    Net interest income $78,951
    Total noninterest income $22,618
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $6,700
    Trading account gains and fees $0
    Additional Noninterest Income $15,918
    Pre-tax net operating income $21,404
    Securities gains (or losses, -) $4
    Income before extraordinary items $17,808
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $17,808
    Minority interest net income $0
    Net income $17,808
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $17,804

    Bank Independent's gross interest income from loans was $89,421,000.
    Bank Independent's net interest income from loans was $78,951,000.
    Bank Independent's fee based income from loans was $6,700,000.
    Bank Independent's net income from loans was $17,808,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $10,470
    Provision for credit losses $7,200
    Total noninterest expense $72,965
    Salaries and employee benefits $47,634
    Premises and equipment expense $11,929
    Additional noninterest expense $13,402
    Applicable income taxes $3,600
    Net charge-offs $3,342
    Cash dividends $6,619

    Bank Independent's interest expense for loans was $10,470,000.
    Bank Independent's payroll and benefits expense were $47,634,000.
    Bank Independent's property, plant and equipment expenses $11,929,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.3%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,721,457
    Deposits held in domestic offices $1,721,457
    Deposits by Individuals, partnerships, and corporations $1,586,099
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $131,384
    Deposits by Commercial banks and other depository institutions in U.S. $3,974
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $174,945
    Demand deposits $141,664
    Nontransaction accounts $1,546,512
    Money market deposit accounts (MMDAs) $255,640
    Other savings deposits (excluding MMDAs) $883,010
    Total time deposits $407,862
    Total time and savings deposits $1,579,793
    Noninterest-bearing deposits $465,101
    Interest-bearing deposits $1,256,356
    Retail deposits $1,623,950
    IRAs and Keogh plan accounts $62,063
    Brokered deposits $37,625
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,017,030
    Cash & Balances due from depository institutions $505,860
    Interest-bearing balances $460,856
    Total securities $106,200
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,276,758
    Loan and leases loss allowance $17,621
    Trading account assets $0
    Bank premises and fixed assets $53,646
    Other real estate owned $140
    Goodwill and other intangibles $23,764
    All other assets $50,662

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,017,030
    Total Liabilities $1,842,993
    Total deposits $1,721,457
    Interest-bearing deposits $1,256,356
    Deposits held in domestic offices $1,721,457
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $13,219
    Trading liabilities $0
    Other borrowed funds $65,000
    Subordinated debt $0
    All other liabilities $43,317

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,276,758
    Loan and leases loss allowance $17,621
    Total loans and leases (domestic) $1,294,379
    All real estate loans $905,183
    Real estate loans in domestic offices $905,183
    Construction and development loans $156,673
    Residential 1-4 family construction $35,362
    Other construction, all land development and other land $121,311
    Loans secured by nonfarm nonresidential properties $366,345
    Nonfarm nonresidential secured by owner-occupied properties $175,706
    Commercial real estate & other non-farm, non-residential $190,639
    Multifamily residential real estate $68,740
    1-4 family residential loans $302,271
    Farmland loans $11,154
    Loans held in foreign offices $0
    Farm loans $785
    Commercial and industrial loans $368,025
    To non-U.S. addressees $0
    Loans to individuals $19,073
    Credit card loans $722
    Related Plans $87
    Consumer Auto Loans $4,778
    Other loans to individuals $13,486
    All other loans & leases $1,313
    Loans to foreign governments and official institutions $0
    Other loans $958
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Bank Independent had $1,276,758,000 of loans outstanding in 2020. $905,183,000 of loans were in real estate loans. $156,673,000 of loans were in development loans. $68,740,000 of loans were in multifamily mortgage loans. $302,271,000 of loans were in 1-4 family mortgage loans. $785,000 of loans were in farm loans. $722,000 of loans were in credit card loans. $4,778,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 518 $96,702 $186,683
    Nonfarm, nonresidential loans - <$100k 134 $5,531 $41,276
    Nonfarm, nonresidential loans - $100-250k 190 $22,139 $116,521
    Nonfarm, nonresidential loans - $250k-1MM 194 $69,032 $355,835
    Commercial & Industrial, US addressed loans - <$1MM 49,454 $314,877 $6,367
    Commercial & Industrial, US addressed loans - <$100k 49,124 $251,340 $5,116
    Commercial & Industrial, US addressed loans - $100-250k 222 $24,282 $109,378
    Commercial & Industrial, US addressed loans - $250k-1MM 108 $39,255 $363,472
    Farmland loans - <$1MM 27 $2,052 $76,000
    Farmland loans - <$100k 15 $602 $40,133
    Farmland loans - $100-250k 6 $436 $72,667
    Farmland loans - $250k-1MM 6 $1,014 $169,000
    Agriculture operations loans - <$1MM 12 $782 $65,167
    Agriculture operations loans - <$100k 7 $80 $11,429
    Agriculture operations loans - $100-250k 1 $13 $13,000
    Agriculture operations loans - $250k-1MM 4 $689 $172,250