1st Independence Bank in Louisville, Kentucky (KY)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of November 15, 2008

  • 1st Independence Bank in Louisville, Kentucky (KY)
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1st Independence Bank - Overview

  • General
  • FDIC Certificate #: 11338
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: MainSource Bank (#5766)
    Federal Reserve ID: 234645
    Date Established: January 01, 1907
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 8 (Interstate: No)
    OTS Docket #: 14282
    FDIC's unique #: 7242
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: November 15, 2008
    Last Structure Change Process Date: November 18, 2008
    Last Data Update: November 18, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 8620 Biggin Hill Lane, Louisville, KY 40220
    County: Jefferson
    Quarterly Banking Profile Region: Chicago
    FDIC Geographic Region: Chicago
    FDIC Supervisory Region: Chicago
    FDIC Field Office: Elizabethtown
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Louisville, KY-IN (#4520)
    Combined Statistical Area (CSA): Louisville-Jefferson County-Elizabethtown-Scottsburg, KY-IN (#350)
    Core Based Statistical Area (CBSA): Louisville-Jefferson County, KY-IN (#31140)
    CBSA Metro Statistical Area: Louisville-Jefferson County, KY-IN (#31140)
  • Financial Summary
  • Total assets: $297.7 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2007)

  • Dollar figures in thousands
  • 90Total employees (full-time equivalent)
  • $347,197Total assets
  • $18,991Cash and due from depository institutions
  • $7,873Interest-bearing balances
  • $16,789Securities
  • $13,711Federal funds sold & reverse repurchase agreements
  • $271,322Net loans & leases
  • $7,140Loan loss allowance
  • $0Trading account assets
  • $7,954Bank premises and fixed assets
  • $58Other real estate owned
  • $8,379Goodwill and other intangibles
  • $3,647Life insurance assets
  • $9,993All other assets
  • $347,197Total liabilities and capital
  • $304,608Total liabilities
  • $255,690Total deposits
  • $239,114Interest-bearing deposits
  • $255,690Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $1,011Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $46,229Other borrowed funds
  • $0Subordinated debt
  • $1,678All other liabilities
  • $42,589Total equity capital
  • $42,589Total bank equity capital
  • $42,589Perpetual preferred stock
  • $0Common stock
  • $303Surplus
  • $34,438Undivided profits
  • Memoranda
  • $7,848Noncurrent loans and leases
  • $44,002Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $6,420Earning assets
  • $0Long-term assets (5+ years)
  • $1,857Average Assets, year-to-date
  • $309,695Average Assets, quarterly
  • $44,794Volatile liabilities
  • $340,895Insider loans
  • $343,710FHLB advances
  • $116,517Loans and leases held for sale
  • $10,748Unused loan commitments
  • $46,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $2,874Total risk weighted assets
  • $44,002Total unused commitments
  • $0Restructured Loans and leases
  • $3,432Derivatives

Income and Expense (December 31, 2007)

  • Dollar figures in thousands
  • $22,143Total interest income
  • $11,897Total interest expense
  • $10,246Net interest income
  • $4,584Provision for loan and lease losses
  • $1,990Total noninterest income
  • $0Fiduciary activities
  • $604Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,386Additional noninterest income
  • $12,355Total noninterest expense
  • $4,888Salaries and employee benefits
  • $1,647Premises and equipment expense
  • $5,820Additional noninterest expense
  • -$4,703Pre-tax net operating income
  • $1Securities gains (losses)
  • -$806Applicable income taxes
  • -$3,896Income before extraordinary items
  • $0Extraordinary gains - net
  • -$3,896Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $1,189Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2007)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.36%Yield on earning assets
  • 3.95%Cost of funding earning assets
  • 3.40%Net interest margin
  • 0.66%Noninterest income to earning assets
  • 4.11%Noninterest expense to earning assets
  • -1.14%Net operating income to assets
  • -1.14%Return on assets (ROA)
  • -1.38%Pretax return on assets
  • -8.47%Return on equity (ROE)
  • -8.47%Retained earnings to average equity (YTD only)
  • 0.44%Net charge-offs to loans
  • 385.53%Credit loss provision to net charge-offs
  • -0.10%Efficiency ratio
  • 77,305Assets per employee
  • 3.86%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.56%Loss allowance to noncurrent loans
  • 111.21%Noncurrent assets plus other real estate owned to assets
  • 1.87%Noncurrent loans to loans
  • 2.31%Net loans and leases to deposits
  • 106.11%Net loans and leases to core deposits
  • 146.51%Equity capital to assets
  • 12.27%Core capital (leverage) ratio
  • 10.08%Tier 1 risk-based capital ratio
  • 12.61%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $340,895Average earning assets
  • $45,978Average equity
  • $300,972Average loans

Total Fiduciary and Related Assets (December 31, 2007)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $132Managed Assets
  • 1Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 24Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $132Other retirement accounts
  • $132Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

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