# INDEPENDENT BANK
MEMPHIS, TN · FDIC certificate 34728 · asset band $1-10B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *funding-stretched*. Composite score 4 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $1.85B | |
| Deposits | $1.62B | |
| Loans and leases | $1.33B | |
| Total equity | $195.1M | |
| Loans / deposits | 81.45% (p36 of band) | 87.10% |
| Liquid assets / assets | 6.30% (p2 of band) | |
| Uninsured deposits / deposits | 25.41% (p31 of band) | 30.76% |
| Brokered deposits | 26.55% | |
| Wholesale funding | 28.16% (p95 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 10.60% (p52 of band) | 10.50% |
| Unrealized securities loss / equity | -0.29% (p94 of band) | -7.75% |
| AOCI / equity | 0.00% (p75 of band) | |
| ROA (annualized) | 1.26% (p51 of band) | 1.26% |
| Net interest margin | 4.62% (p90 of band) | 3.70% |
| Efficiency ratio | 60.73% (p56 of band) | |
| Noncurrent loans | 0.85% (p68 of band) | 0.51% |
| Net charge-offs (annualized) | 0.27% (p89 of band) | |
| Reserve coverage of noncurrent | 129.21% | |
| Real estate % of loans | 30% | |
| Construction % of loans | 35.21% (p36 of band) | |
| Auto loans | $529.0M (39.68% of loans; DQ 2.25%, NCO 0.25%) | |
| Loans to nondepository financials | $0 (0% of equity) (p35 of band) | |
| Deposits YoY | 4.6% | |
| Employees | 240 | |

## Flags firing in the latest filing

- **brokered >10%** (`liq_brokered`)
- **wholesale funding >15%** (`liq_wholesale`)
- **liquid assets <10%** (`liq_thin`)
- **auto book souring** (`conc_auto`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 5 | loans exceed deposits, brokered >10%, wholesale funding >15%, liquid assets <10%, auto book souring |  |
| 2011-06 | 4 |  | loans exceed deposits |
| 2011-09 | 3 |  | liquid assets <10% |
| 2011-12 | 4 | loans exceed deposits, liquid assets <10% | wholesale funding >15% |
| 2012-03 | 4 | wholesale funding >15% | loans exceed deposits |
| 2012-06 | 3 |  | liquid assets <10% |
| 2012-09 | 5 | loans exceed deposits, liquid assets <10%, capital falling | wholesale funding >15% |
| 2012-12 | 5 |  |  |
| 2013-03 | 6 | charge-offs p90, reserve under noncurrent | capital falling |
| 2013-06 | 5 | wholesale funding >15% | loans exceed deposits, charge-offs p90 |
| 2013-09 | 4 | loans exceed deposits | brokered >10%, wholesale funding >15% |
| 2013-12 | 5 | brokered >10% |  |
| 2014-03 | 6 | wholesale funding >15%, charge-offs p90 | loans exceed deposits |
| 2014-06 | 6 | loans exceed deposits, capital falling | reserve under noncurrent, charge-offs p90 |
| 2014-09 | 7 | charge-offs p90 |  |
| 2014-12 | 7 |  |  |
| 2015-03 | 5 |  | capital falling, charge-offs p90 |
| 2015-06 | 6 | charge-offs p90 |  |
| 2015-09 | 6 |  |  |
| 2015-12 | 6 |  |  |
| 2016-03 | 7 | capital falling |  |
| 2016-06 | 6 |  | capital falling |
| 2016-09 | 5 |  | loans exceed deposits |
| 2016-12 | 5 |  |  |
| 2017-03 | 6 | uninsured deposits leaving |  |
| 2017-06 | 6 |  |  |
| 2017-09 | 4 |  | brokered >10%, wholesale funding >15% |
| 2017-12 | 4 |  |  |
| 2018-03 | 3 |  | uninsured deposits leaving |
| 2018-06 | 4 | reserve under noncurrent |  |
| 2018-09 | 4 |  |  |
| 2018-12 | 5 | brokered >10% |  |
| 2019-03 | 6 | capital falling |  |
| 2019-06 | 4 |  | reserve under noncurrent, capital falling |
| 2019-09 | 3 |  | brokered >10% |
| 2019-12 | 3 |  |  |
| 2020-03 | 5 | loans exceed deposits, capital falling |  |
| 2020-06 | 3 |  | charge-offs p90, loans exceed deposits |
| 2020-09 | 3 |  |  |
| 2020-12 | 2 |  | capital falling |
| 2021-03 | 2 | charge-offs p90 | liquid assets <10% |
| 2021-06 | 1 |  | charge-offs p90 |
| 2021-09 | 2 | charge-offs p90 |  |
| 2021-12 | 2 |  |  |
| 2022-03 | 1 |  | charge-offs p90 |
| 2022-06 | 2 | liquid assets <10% |  |
| 2022-09 | 2 |  |  |
| 2022-12 | 2 |  |  |
| 2023-03 | 5 | loans exceed deposits, charge-offs p90, uninsured deposits leaving |  |
| 2023-06 | 6 | brokered >10%, wholesale funding >15% | uninsured deposits leaving |
| 2023-09 | 6 |  |  |
| 2023-12 | 6 | capital falling | loans exceed deposits |
| 2024-03 | 5 | loans exceed deposits | charge-offs p90, capital falling |
| 2024-06 | 4 |  | loans exceed deposits |
| 2024-09 | 4 |  |  |
| 2024-12 | 6 | capital falling, uninsured deposits leaving |  |
| 2025-03 | 5 | charge-offs p90 | capital falling, uninsured deposits leaving |
| 2025-06 | 4 |  | charge-offs p90 |
| 2025-09 | 6 | capital falling, charge-offs p90 |  |
| 2025-12 | 5 |  | capital falling |
| 2026-03 | 4 |  | charge-offs p90 |
| 2026-06 | 4 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-05-06 [Memphis bank robber sentenced to over 48 years in federal prison - wbbjtv.com](https://news.google.com/rss/articles/CBMimAFBVV95cUxOSHIyU1VrVVZWdzdFNXUzcWFJU0pzSkFlaXFleEJCUXhDeGw4VVZlV1AtYXdyTnRhSERVZFVPQUFUaVdrejB4QV9oa2x3QnVTZGxkN1JJODBBM2JHMVdSa0t3Sm9iVF9aYnBWZmNreG91MnozdF9QZzlHUFVZUUJSblBlU1ljV0FHUGZvRkEwM3Zib1c2RXpCQtIBrAFBVV95cUxNOUxEWldIRzYwYm15VjlGU2MweFdjMHB2bEVTdkxmZ3ktZGdfN3lZVVdIZHZiUmlxSUxuQUsxQXVYXzJiNW5WcXV4T3IzTjRPdXlyNG52Z2hNclJoQ3RrNTBnNHNmMFc4Mm84UXE3S3NIR19RYjlPdzZ4N0NscDFLN2xqdFYxSEpKS1JOSzlGWVMydWxHck5IQmlGeXJIazV6aXZtdXE3NWhnbktl?oc=5) · wbbjtv.com
- 2026-02-04 [Forbes 2026 America's Best Banks List | Top Ranked and Rated - Forbes](https://news.google.com/rss/articles/CBMiXkFVX3lxTFBrbWc0QzhhUnVtRVhDWVM4bl9kLTh0NC03SDNEQjRLNkRVdmphMWItazhVejNfLTBNLTBDaDZDMXJJdWpfbzJCNVo4MnVOSGk0YVRTN3ZXbnVqdVRvcGc?oc=5) · Forbes
- 2024-05-21 [SouthState to acquire Independent Bank in $2B deal - Banking Dive](https://news.google.com/rss/articles/CBMimgFBVV95cUxOc2RfREdLOHUtd2g0TzRNamZjZlF2eHU0U2ZtYzRKS0g4bTJMdXNJSlZKalFWTDcxY3lXMHVURmpLN0dFMlFPb1kyZ2ZsQUxCbElXcW9tV09RVldSZjk5SmdJTnBrUDNkZUthZ0tMb0ZxSWRleDM5cG1WN3hhODBKY21TZWpVT0xhWkJFZVA1UGEwQm1WUENlellR?oc=5) · Banking Dive
- 2025-10-28 [Top 4 bank in Memphis to be acquired in $7B-plus deal - The Business Journals](https://news.google.com/rss/articles/CBMingFBVV95cUxQd2J2al83YS1pbzNXQVZtbFVPMWVJUHFITjd3dGhIR0JabWJiZF9NTk9tZWtYS2lUUmcwb0h4Q29EaE9pRnZiN3J4ZGpFaDI1dkp5WTJZZjhxdV91VHNqTDBvekljUWM0Wmh6bFFWOWhKQlYybG5jUWNmSDRvdW13UTZaNkNRZDkwdWVvZWhVbFNTb0V3VmNPVzNzR3pGZw?oc=5) · The Business Journals
- 2020-03-10 [Meet the Chairman’s Circle: Susan Stephenson - Greater Memphis Chamber of Commerce](https://news.google.com/rss/articles/CBMiiwFBVV95cUxPYXNNYmhlbTl5Ykc4Y1ZPWUk1dFhseUVXcG9zR2RUSFNEekRsNWNoNnpjU0JUcXQwRzROdDhxTmxncG0wdHhfVTR0azJqZ1pJb0x5cHZqRUtGQWZfMEZSaDBlWFlUN2RET3Q1UWppUzJZRmI4Vkd6OVMyWEJVbEVTdnpRY3JmdnZJUGdj?oc=5) · Greater Memphis Chamber of Commerce
- 2024-09-12 [Proxy firms, shareholders frown on Independent Bank's 'single trigger' payouts - S&P Global](https://news.google.com/rss/articles/CBMi9AFBVV95cUxOUXctbVRENVhTNExJLUtLeHhxY0RSR2NNUG8tcWppNElrZ1ppcEtqUVd5ajB2bnJiMnVoOUpfTDFhSGdkejFuOEpBZFdWQ2Vram9qZnJCS0NtYjZDOUZrRlFNeFRvSmtCQndPUXFxNmxPQnFtTHBuSG1tRzB2aEhuSVI4MlBSaGxYVC1CbFFtTXgtZ2tXVFRYTXhqOGszbnltejJwd3R3ODMyZzBob3F0enZYSlFuOHN3UHc1TkNLM2kxZ2JVOUpTVndIRXFsTVlEb3puQ0pDTUhRaGEtR08wTlJxRVhEY3Y4SV8xRVBOS2hZQVFZ?oc=5) · S&amp;P Global
- 2021-10-04 [Shady Grove Office Leader Justin Russell Among New Members of Pinnacle's Memphis Team - Pinnacle Financial Partners](https://news.google.com/rss/articles/CBMivgFBVV95cUxNa0lkU3lrZ2FkX3NRdEFvdHN3enM1YXhKbmppTmEyLUJSSklsd2tobk1NUmxKbW1KRzRSVWY3bGxqUU82MmNBMVYzLTFQSXIzSUx1cWFoTk4xYkcwLTZCX2JQbHhVX3hnalhwVTEyOGY0MjdNRlZWeUlVRTV2ZEpxMi1pTGdqYzZBX25hNXMzX0FwMncwa1VQNm05cXVLRG5reUZRaU9kZWppZTR6QzRzeFlXNnFZYjZNWF9uTnd3?oc=5) · Pinnacle Financial Partners
- 2017-12-05 [UPDATE: Independent Bank to acquire TC State Bank - Traverse City Record-Eagle](https://news.google.com/rss/articles/CBMi2wFBVV95cUxNSWFPOHJqTlJzdHRqQmNVaHZoanZWN3FDbG1SeUdLWHY0cmFFdHRvMzczVHZtS3hHNTJXSW1DenNsZVY4aWwxQ0o1SlNkalQwWi1kdGNJQjB2QVdBaU5pVVNFTHpaOTlVNE9HZ2VnVE9HbXRZbzNuVGFJN25ic0J2cm96TC1OV3hORHAwaXpXSk5JOHFldEZmaFJFVE5SYVUyNnlQVDZvVHkwZ0IzTUVzZExrOWNJWW5PdmMyeTlpZmljVEROSnlkZWUxdmpIVWpiTFZvcE8wRGVjVDQ?oc=5) · Traverse City Record-Eagle

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=34728 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/40.json (key "34728", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide