Independent Bank Mortgage Rates, Fees & Info

Memphis, TN

LEI: 549300RBN5KM5RUFOE42

Tax ID: 62-1730983

5 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Independent Bank is a smaller bank specializing in Home Purchase and Refi loans. Independent Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Memphis, Chattanooga, Birmingham, Nashville, and Atlanta among others. Independent Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Independent Bank is typically an average fee lendor.


Originations

728

Origination Dollar Volume (All Markets)

$181,360,000

Employee count

224 Show all (8) awards

Relative Rate

Independent Bank's average 30 year fixed rate mortgage of loans were 2.9%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.25%.

Relative Fees

Independent Bank's average total fees for a 30 year fixed rate mortgage are $3,866.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 387 $95,535,000 $246,860 $3,957 2.89%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 131 $32,015,000 $244,389 $3,616 2.84%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 19 $5,705,000 $300,263 $2,597 2.54%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 5 $2,525,000 $505,000 $4,082 2.75%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 7 $2,485,000 $355,000 $3,734 2.66%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 10 $2,370,000 $237,000 $2,981 2.40%
CLEVELAND, TN (FHA|USDA|VA) 8 $2,280,000 $285,000 $4,203 2.70%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 10 $2,140,000 $214,000 $2,505 2.54%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 8 $1,840,000 $230,000 $2,711 2.47%
HUNTSVILLE, AL (FHA|USDA|VA) 6 $1,420,000 $236,667 $2,442 2.54%
JACKSON, TN (FHA|USDA|VA) 5 $1,375,000 $275,000 $3,318 2.67%
Outside of Metro Areas 9 $1,375,000 $152,778 $3,397 2.89%
JACKSON, MS (FHA|USDA|VA) 5 $1,245,000 $249,000 $2,763 2.28%
Oxford, MS (FHA|USDA|VA) 5 $1,125,000 $225,000 $2,657 2.77%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $1,080,000 $270,000 $5,200 2.75%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $935,000 $311,667 $4,088 2.83%
KNOXVILLE, TN (FHA|USDA|VA) 3 $875,000 $291,667 $3,109 2.79%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $845,000 $281,667 $3,982 2.46%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $835,000 $278,333 $3,059 2.50%
WILMINGTON, NC (FHA|USDA|VA) 3 $795,000 $265,000 $2,587 2.63%
Heber, UT (FHA|USDA|VA) 1 $785,000 $785,000 $3,976 2.38%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $745,000 $745,000 $2,446 2.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $555,000 $185,000 $2,387 2.63%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $535,000 $535,000 $7,343 2.50%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $530,000 $265,000 $3,023 2.00%
LAKE CHARLES, LA (FHA|USDA|VA) 1 $525,000 $525,000 $4,459 3.38%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $515,000 $515,000 $5,827 2.63%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $475,000 $475,000 $3,431 1.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $470,000 $235,000 $3,103 2.13%
RENO, NV (FHA|USDA|VA) 2 $460,000 $230,000 $2,229 2.25%
DOTHAN, AL (FHA|USDA|VA) 2 $460,000 $230,000 $2,404 2.63%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 3 $455,000 $151,667 $3,068 3.25%
LAFAYETTE, LA (FHA|USDA|VA) 2 $450,000 $225,000 $3,271 2.69%
Starkville, MS (FHA|USDA|VA) 2 $430,000 $215,000 $4,394 2.56%
BATON ROUGE, LA (FHA|USDA|VA) 2 $420,000 $210,000 $2,803 2.69%
Tupelo, MS (FHA|USDA|VA) 2 $410,000 $205,000 $3,180 3.44%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $405,000 $405,000 $3,213 2.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $400,000 $200,000 $4,894 2.63%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $400,000 $200,000 $2,910 2.25%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $400,000 $200,000 $2,699 2.44%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $390,000 $195,000 $2,627 1.81%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $370,000 $185,000 $3,465 2.44%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $365,000 $365,000 $3,846 2.38%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $360,000 $180,000 $2,316 2.62%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $355,000 $355,000 $9,715 2.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $355,000 $355,000 $2,437 1.88%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $345,000 $345,000 $3,345 1.88%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $345,000 $345,000 $3,810 2.88%
TUSCALOOSA, AL (FHA|USDA|VA) 2 $340,000 $170,000 $2,653 2.25%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 2 $340,000 $170,000 $3,819 2.94%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $335,000 $335,000 $4,223 2.38%
Enterprise, AL (FHA|USDA|VA) 1 $335,000 $335,000 $3,105 2.99%
DALTON, GA (FHA|USDA|VA) 1 $325,000 $325,000 $2,835 2.50%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $325,000 $325,000 $2,865 2.63%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $325,000 $325,000 $3,544 2.63%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $305,000 $305,000 $2,872 3.12%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $295,000 $295,000 $2,212 2.63%
Frankfort, KY (FHA|USDA|VA) 1 $285,000 $285,000 $2,204 2.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $275,000 $275,000 $2,575 2.25%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $275,000 $275,000 $2,932 3.25%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $265,000 $265,000 $3,445 2.88%
Cullman, AL (FHA|USDA|VA) 1 $245,000 $245,000 $3,054 2.63%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $235,000 $235,000 $2,911 2.88%
Athens, TN (FHA|USDA|VA) 1 $235,000 $235,000 $3,016 2.88%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $235,000 $235,000 $1,562 1.75%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $225,000 $225,000 $2,248 2.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $225,000 $225,000 $1,919 2.13%
FORT COLLINS, CO (FHA|USDA|VA) 1 $225,000 $225,000 $2,053 2.63%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $225,000 $225,000 $1,744 2.63%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $215,000 $215,000 $2,466 2.63%
RICHMOND, VA (FHA|USDA|VA) 1 $215,000 $215,000 $2,335 2.50%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $215,000 $215,000 $2,051 1.75%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $205,000 $205,000 $2,802 2.38%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $205,000 $205,000 $6,643 2.63%
BOWLING GREEN, KY (FHA|USDA|VA) 1 $195,000 $195,000 $2,402 2.50%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 1 $185,000 $185,000 $3,528 2.13%
MONTGOMERY, AL (FHA|USDA|VA) 1 $185,000 $185,000 $2,590 2.25%
Cleveland, MS (FHA|USDA|VA) 1 $185,000 $185,000 $3,227 2.25%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $185,000 $185,000 $3,146 1.75%
ASHEVILLE, NC (FHA|USDA|VA) 1 $185,000 $185,000 $5,609 2.00%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $185,000 $185,000 $1,998 2.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $175,000 $175,000 $6,555 2.88%
DECATUR, AL (FHA|USDA|VA) 1 $175,000 $175,000 $2,069 2.87%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $165,000 $165,000 $2,739 3.12%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $165,000 $165,000 $2,749 2.38%
LaGrange, GA-AL (FHA|USDA|VA) 1 $165,000 $165,000 $2,936 2.13%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $135,000 $135,000 $2,122 2.50%
Greenwood, MS (FHA|USDA|VA) 1 $125,000 $125,000 $2,916 2.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $115,000 $115,000 $2,260 2.63%
Murray, KY (FHA|USDA|VA) 1 $105,000 $105,000 $2,590 3.13%
MORRISTOWN, TN (FHA|USDA|VA) 1 $95,000 $95,000 $2,436 4.25%
Corinth, MS (FHA|USDA|VA) 1 $85,000 $85,000 $2,747 3.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $65,000 $65,000 $3,228 3.38%
Forrest City, AR (FHA|USDA|VA) 1 $45,000 $45,000 $2,544 2.50%

Independent Bank's top markets include Memphis, Chattanooga, Birmingham, Nashville, and Atlanta among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 637 $159,225,000 $249,961 $3,164 2.79%
FHA 75 $16,405,000 $218,733 $7,214 2.77%
VA 14 $5,190,000 $370,714 $6,643 2.74%
USDA 2 $540,000 $270,000 $6,244 2.94%

For the 2021 period, Independent Bank's most frequently originated loan type of loans were Conventional, with 637 originations. Their 2nd most popular type is FHA, with 75 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 325 $84,015,000 $258,508 $4,412 2.90%
Refi 264 $60,920,000 $230,758 $2,886 2.58%
Cash Out Refi 113 $29,365,000 $259,867 $3,443 2.91%
Home Improvement 26 $7,060,000 $271,538 $3,273 2.95%

For the 2021, Independent Bank's most frequently cited loan purpose of loans were Home Purchase, with 325 originations. The 2nd most popular reason of loans were Refi, with 264 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 564 $142,840,000 $253,262 $3,866 2.90%
15 Year 121 $29,485,000 $243,678 $3,028 2.34%
20 Year 26 $5,840,000 $224,615 $2,920 2.75%
10 Year 13 $2,445,000 $188,077 $2,714 2.13%
Other 4 $750,000 $187,500 $2,553 2.47%

For the 2021, Independent Bank's most frequently cited loan length of loans were 30 Year, with 564 originations. The 2nd most popular length of loans were 15 Year, with 121 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 631 $156,885,000 $248,629
$1k-2k 67 $15,265,000 $227,836
$3k-4k 11 $3,665,000 $333,182
$2k-3k 7 $2,075,000 $296,429
$5k+ 6 $2,350,000 $391,667

$3,866 of loans were Independent Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 631 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 350 $89,010,000 $254,314
<2.5% 224 $59,790,000 $266,920
3-4% 144 $30,900,000 $214,583
4-5% 10 $1,660,000 $166,000

During 2021, Independent Bank's average interest rate of loans were 2.90%, while their most frequently originated rate bucket of loans were 2.5-3%, with 350 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 363 $98,935,000 $272,548 $3,826 2.69%
$100k-200k 228 $35,570,000 $156,009 $3,336 2.94%
$400k-600k 79 $38,315,000 $485,000 $4,290 2.68%
$100,000 or less 53 $4,145,000 $78,208 $2,834 2.96%
$600k-1MM 4 $3,050,000 $762,500 $4,025 3.00%
$1MM+ 1 $1,345,000 $1,345,000 $7,821 2.75%

2021 saw Independent Bank place emphasis on $200k-400k loans with 363 originations, totaling $98,935,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 159 $42,295,000 $266,006 $3,680 2.74%
$50k-75k 154 $31,220,000 $202,727 $3,863 2.82%
$150k-250k 127 $40,325,000 $317,520 $3,407 2.72%
$75k-100k 123 $30,355,000 $246,789 $3,600 2.82%
$50k or less 108 $15,500,000 $143,519 $3,601 2.87%
$250k+ 52 $20,610,000 $396,346 $3,994 2.76%

Independent Bank lent most frequently to those with incomes in the $100k-150k range, with 159 originations. The second most popular income band? $50k-75k, with 154 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 167 $41,345,000 $247,575 $3,280 2.76%
30-36% 125 $31,395,000 $251,160 $3,369 2.82%
<20% 91 $22,165,000 $243,571 $3,065 2.61%
40% 33 $7,535,000 $228,333 $3,818 2.76%
41% 31 $6,585,000 $212,419 $3,458 2.93%
45% 27 $6,995,000 $259,074 $4,014 2.89%
44% 26 $7,890,000 $303,462 $3,977 2.91%
43% 26 $6,500,000 $250,000 $4,152 3.00%
36% 25 $6,185,000 $247,400 $3,823 2.73%
39% 24 $5,920,000 $246,667 $3,491 2.77%
50-60% 22 $4,910,000 $223,182 $6,444 2.65%
37% 22 $6,210,000 $282,273 $4,428 3.02%
48% 22 $6,400,000 $290,909 $4,572 2.81%
38% 21 $5,415,000 $257,857 $4,135 2.74%
47% 17 $3,995,000 $235,000 $3,790 2.79%
46% 16 $3,920,000 $245,000 $4,396 2.80%
49% 16 $3,820,000 $238,750 $3,954 2.85%
42% 16 $3,880,000 $242,500 $3,457 2.84%

Independent Bank lent most frequently to those with DTI ratios of 20-30%, with 167 originations. The next most common DTI ratio? 30-36%, with 125 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 594 $152,080,000 $256,027 $3,483 2.77%
Black 99 $19,595,000 $197,929 $4,831 2.91%
Asian 26 $7,250,000 $278,846 $3,480 2.74%
Not provided 4 $1,260,000 $315,000 $2,993 2.53%
American Indian 3 $705,000 $235,000 $2,849 3.08%
Native Hawaiian 2 $470,000 $235,000 $3,194 2.31%

Approval Rates

Total approvals of all applications
95.25%

Independent Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
74.56%

Independent Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 728 $181,360,000 $249,121

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
728 $181,360,000 $249,121

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 39 $8,575,000 $219,872 $2,993 2.43%
40-60% 127 $28,595,000 $225,157 $3,029 2.58%
60-80% 301 $77,925,000 $258,887 $3,188 2.87%
80-100% 256 $65,200,000 $254,688 $4,580 2.85%
Over 100% 2 $570,000 $285,000 $9,743 3.13%
Under 20% 3 $495,000 $165,000 $3,430 2.58%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
INDEPENDENT BANK CORP. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 2 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Independent Bank 1711 Union Avenue Memphis, TN 38104 Full Service B&M $51,000
Independent Bank 2116 West Poplar Collierville, TN 38017 Full Service B&M $71,841
Independent Bank 3295 Poplar Avenue Memphis, TN 38111 Full Service B&M $39,132
Independent Bank 40 South Main Street Memphis, TN 38103 Full Service B&M $31,133
Independent Bank 450 Perkins Extd Memphis, TN 38117 Full Service B&M $46,558
Independent Bank 5050 Poplar Avenue Memphis, TN 38157 Full Service B&M $635,504
Independent Bank 5995 Stage Road Bartlett, TN 38134 Full Service B&M $30,884
Independent Bank 6209 Poplar Avenue Memphis, TN 38119 Full Service B&M $66,801
Independent Bank 7635 Poplar Avenue Germantown, TN 38138 Full Service B&M $72,758

For 2021, Independent Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $49,576
Net interest income $45,958
Total noninterest income $15,880
Gross Fiduciary activities income $0
Service charges on deposit accounts $690
Trading account gains and fees $0
Additional Noninterest Income $15,190
Pre-tax net operating income $19,271
Securities gains (or losses, -) $0
Income before extraordinary items $14,755
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $14,755
Minority interest net income $0
Net income $14,755
Sale, conversion, retirement of capital stock, net $425
Net operating income $14,755

Independent Bank's gross interest income from loans was $49,576,000.
Independent Bank's net interest income from loans was $45,958,000.
Independent Bank's fee based income from loans was $690,000.
Independent Bank's net income from loans was $14,755,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,618
Provision for credit losses $1,652
Total noninterest expense $40,915
Salaries and employee benefits $25,947
Premises and equipment expense $4,115
Additional noninterest expense $10,853
Applicable income taxes $4,516
Net charge-offs $2,096
Cash dividends $13,000

Independent Bank's interest expense for loans was $3,618,000.
Independent Bank's payroll and benefits expense were $25,947,000.
Independent Bank's property, plant and equipment expenses $4,115,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 1.0%
Construction & Land Development loans 9.0%
Nonfarm, nonresidential loans 1.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
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 $1,137,217
Deposits held in domestic offices $1,137,217
Deposits by Individuals, partnerships, and corporations $1,136,961
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $256
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $314,512
Demand deposits $293,871
Nontransaction accounts $822,705
Money market deposit accounts (MMDAs) $514,732
Other savings deposits (excluding MMDAs) $101,166
Total time deposits $206,807
Total time and savings deposits $843,346
Noninterest-bearing deposits $293,871
Interest-bearing deposits $843,346
Retail deposits $1,098,067
IRAs and Keogh plan accounts $22,959
Brokered deposits $25,881
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,290,156
Cash & Balances due from depository institutions $228,639
Interest-bearing balances $195,118
Total securities $6,457
Federal funds sold & reverse repurchase $0
Net loans and leases $879,669
Loan and leases loss allowance $10,269
Trading account assets $0
Bank premises and fixed assets $4,835
Other real estate owned $2,415
Goodwill and other intangibles $14,840
All other assets $153,301

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,290,156
Total Liabilities $1,142,206
Total deposits $1,137,217
Interest-bearing deposits $843,346
Deposits held in domestic offices $1,137,217
% insured (estimated) $58
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $4,989

Issued Loan Types

Type Value (in 000's)
Net loans and leases $879,669
Loan and leases loss allowance $10,269
Total loans and leases (domestic) $889,938
All real estate loans $227,124
Real estate loans in domestic offices $227,124
Construction and development loans $18,944
Residential 1-4 family construction $13,872
Other construction, all land development and other land $5,072
Loans secured by nonfarm nonresidential properties $144,690
Nonfarm nonresidential secured by owner-occupied properties $28,998
Commercial real estate & other non-farm, non-residential $115,692
Multifamily residential real estate $19,974
1-4 family residential loans $43,516
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $92,949
To non-U.S. addressees $0
Loans to individuals $467,782
Credit card loans $0
Related Plans $0
Consumer Auto Loans $420,632
Other loans to individuals $47,150
All other loans & leases $102,083
Loans to foreign governments and official institutions $0
Other loans $102,083
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 $330
Non 1-4 family restructured loans & leases $330
Total loans and leases (foreign) $0

Independent Bank had $879,669,000 of loans outstanding in 2021. $227,124,000 of loans were in real estate loans. $18,944,000 of loans were in development loans. $19,974,000 of loans were in multifamily mortgage loans. $43,516,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $420,632,000 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 28 $7,822 $279,357
Nonfarm, nonresidential loans - <$100k 4 $88 $22,000
Nonfarm, nonresidential loans - $100-250k 8 $836 $104,500
Nonfarm, nonresidential loans - $250k-1MM 16 $6,898 $431,125
Commercial & Industrial, US addressed loans - <$1MM 195 $16,318 $83,682
Commercial & Industrial, US addressed loans - <$100k 105 $2,713 $25,838
Commercial & Industrial, US addressed loans - $100-250k 45 $4,691 $104,244
Commercial & Industrial, US addressed loans - $250k-1MM 45 $8,914 $198,089