FDIC Certificate #: 34553 Status: Active Federal Reserve ID: 2569387 Date Established: January 09, 1997 WWW:http://www.independencetrust.com Trust Powers Granted: Yes 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 #: 17965 FDIC's unique #: 59060 Numeric code: 33 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: Other Specialized Lending < 1 Billion Date of Deposit Insurance: March 15, 2004 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: 325 Bridge Street, Franklin, TN 37064 County: Williamson Quarterly Banking Profile Region: Dallas FDIC Geographic Region: Dallas FDIC Supervisory Region: Dallas FDIC Field Office: Nashville Office of the Comptroller the Currency (OCC) District: Southwest Office of Thrift Supervision Region: Southeast Metropolitan Statistical Area (MSA): Nashville, TN (#5360) Combined Statistical Area (CSA): Nashville-Davidson-Murfreesboro-Columbia, TN (#400) Core Based Statistical Area (CBSA): Nashville-Davidson-Murfreesboro-Franklin, TN (#34980) CBSA Metro Statistical Area: Nashville-Davidson-Murfreesboro-Franklin, TN (#34980)
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $3.6 mil Equity capital: $3.0 mil Deposits held in domestic offices: $0.5 mil Return on assets (ROA): 4.59% ($0.2 mil) Quarterly return on assets: 7.74% ($0.3 mil) Return on Equity (ROE): 5.72% ($0.2 mil) Quarterly return on equity: 9.71% ($0.3 mil) Net income: $0.2 mil Quarterly Net income: $0.1 mil Pretax return on assets: 7.26% ($261.7 mil) Quarterly Pretax return on assets: 6.98% ($251.6 mil)
2000 - 2011 Historical total assets, liabilities and capital ($ 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
12Total employees (full-time equivalent)
$3,604Total assets
$558Cash and due from depository institutions
$558Interest-bearing balances
$1,930Securities
$0Federal funds sold & reverse repurchase agreements
$0Net loans & leases
$0Loan loss allowance
$0Trading account assets
$772Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$3,604Life insurance assets
$344All other assets
$644Total liabilities and capital
$500Total liabilities
$500Total deposits
$500Interest-bearing deposits
$50Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$144Subordinated debt
$2,960All other liabilities
$2,960Total equity capital
$2,960Total bank equity capital
$0Perpetual preferred stock
$2Common stock
$2,233Surplus
$725Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$0Income earned, not collected on loans
$0Earning assets
$9Long-term assets (5+ years)
$2,488Average Assets, year-to-date
$1,757Average Assets, quarterly
$3,570Volatile liabilities
$3,667Insider loans
$1,342FHLB advances
$3,655Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$2,902Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$0Restructured Loans and leases
$0Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$82Total interest income
$12Total interest expense
$70Net interest income
$0Provision for loan and lease losses
$1,983Total noninterest income
$1,914Fiduciary activities
$0Service charges on deposit accounts
$0Trading account gains & fees
$69Additional noninterest income
$1,798Total noninterest expense
$1,264Salaries and employee benefits
$79Premises and equipment expense
$455Additional noninterest expense
$255Pre-tax net operating income
$4Securities gains (losses)
$95Applicable income taxes
$164Income before extraordinary items
$0Extraordinary gains - net
$164Net income attributable to bank
$0Net charge-offs
$164Cash dividends
$0Sale, conversion, retirement of capital stock, net
$75Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
3.37%Yield on earning assets
0.49%Cost of funding earning assets
2.87%Net interest margin
81.40%Noninterest income to earning assets
73.81%Noninterest expense to earning assets
4.52%Net operating income to assets
4.59%Return on assets (ROA)
7.26%Pretax return on assets
5.72%Return on equity (ROE)
3.10%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
87,579Assets per employee
0.30%Cash dividends to net income (YTD only)
Condition Ratios (%)
45.73%Loss allowance to loans
0.00%Loss allowance to noncurrent loans
0.00%Noncurrent assets plus other real estate owned to assets
0.00%Noncurrent loans to loans
0.00%Net loans and leases to deposits
0.00%Net loans and leases to core deposits
0.00%Equity capital to assets
82.13%Core capital (leverage) ratio
79.40%Tier 1 risk-based capital ratio
216.24%Total risk-based capital ratio
Memoranda
$216Average assets
$3,570Average earning assets
$2,866Average equity
$2,436Average loans
Total Fiduciary and Related Assets (December 31, 2011)
Dollar figures in thousands
$1Total fiduciary and related assets
1Number of Fiduciary Accounts and Related Asset Accounts
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