FDIC Certificate #: 29427 Status: Active Federal Reserve ID: 372770 Date Established: May 20, 1935 WWW:http://www.independencefederal.com Trust Powers Granted: No Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 3436 FDIC's unique #: 42261 Numeric code: 34 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: No Asset Concentration Hierarchy: Mortgage Lending Specialization Date of Deposit Insurance: May 20, 1935 Last Structure Change Effective Date: July 21, 2011 Last Structure Change Process Date: July 21, 2011 Last Data Update: July 21, 2011 Data Source Date: April 05, 2012
Location
Address: 305 First Street West, Independence, IA 50644 County: Buchanan Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Cedar Rapids Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $21.9 mil Equity capital: $2.1 mil Deposits held in domestic offices: $19.0 mil Return on assets (ROA): -0.59% (-$0.1 mil) Quarterly return on assets: -1.30% (-$0.3 mil) Return on Equity (ROE): -5.96% (-$0.1 mil) Quarterly return on equity: -13.67% (-$0.3 mil) Net income: -$0.1 mil Quarterly Net income: -$0.1 mil Pretax return on assets: -0.90% (-$196.7 mil) Quarterly Pretax return on assets: -1.79% (-$391.3 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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, 2011)
Dollar figures in thousands
4Total employees (full-time equivalent)
$21,858Total assets
$918Cash and due from depository institutions
$693Interest-bearing balances
$8,440Securities
$0Federal funds sold & reverse repurchase agreements
$11,765Net loans & leases
$156Loan loss allowance
$0Trading account assets
$138Bank premises and fixed assets
$90Other real estate owned
$0Goodwill and other intangibles
$21,858Life insurance assets
$507All other assets
$19,805Total liabilities and capital
$18,955Total liabilities
$18,955Total deposits
$18,955Interest-bearing deposits
$100Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$700Trading liabilities
$0Other borrowed funds
$150Subordinated debt
$2,053All other liabilities
$2,053Total equity capital
$2,053Total bank equity capital
$0Perpetual preferred stock
$0Common stock
$0Surplus
$2,053Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$312Income earned, not collected on loans
$0Earning assets
$67Long-term assets (5+ years)
$20,898Average Assets, year-to-date
$0Average Assets, quarterly
$22,211Volatile liabilities
$22,103Insider loans
$9,819FHLB advances
$21,823Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$2,018Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$133Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$952Total interest income
$611Total interest expense
$341Net interest income
$6Provision for loan and lease losses
$2Total noninterest income
$0Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$2Additional noninterest income
$627Total noninterest expense
$400Salaries and employee benefits
$87Premises and equipment expense
$140Additional noninterest expense
-$290Pre-tax net operating income
$89Securities gains (losses)
-$71Applicable income taxes
-$130Income before extraordinary items
$0Extraordinary gains - net
-$130Net income attributable to bank
$0Net charge-offs
-$130Cash dividends
$0Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.45%Yield on earning assets
2.86%Cost of funding earning assets
1.60%Net interest margin
0.01%Noninterest income to earning assets
2.93%Noninterest expense to earning assets
-0.85%Net operating income to assets
-0.59%Return on assets (ROA)
-0.90%Pretax return on assets
-5.96%Return on equity (ROE)
-5.96%Retained earnings to average equity (YTD only)
0.00%Net charge-offs to loans
0.00%Credit loss provision to net charge-offs
0.00%Efficiency ratio
182,799Assets per employee
5.46%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.31%Loss allowance to noncurrent loans
50.00%Noncurrent assets plus other real estate owned to assets
1.84%Noncurrent loans to loans
2.62%Net loans and leases to deposits
62.07%Net loans and leases to core deposits
62.07%Equity capital to assets
9.39%Core capital (leverage) ratio
9.25%Tier 1 risk-based capital ratio
20.55%Total risk-based capital ratio
Memoranda
$22Average assets
$22,211Average earning assets
$2,180Average equity
$21,379Average loans
List of branches
1 Iowa Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
42261
Independence Federal Bank For Saving
305 First Street West, Independence, IA 50644
May 20, 1935
Full Service Brick and Mortar
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