Call reports 2024
INDEPENDENCE BANK — 2024
What INDEPENDENCE BANK reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 182,421,000 | 182,666,000 | 188,562,000 | 181,088,000 |
| Total loans | 106,634,000 | 112,854,000 | 114,404,000 | 114,337,000 |
| Allowance for loan losses | 3,925,000 | 3,926,000 | 3,925,000 | 3,926,000 |
| Securities available for sale | 21,839,000 | 21,990,000 | 22,895,000 | 24,920,000 |
| Securities held to maturity | 9,262,000 | 9,272,000 | 8,289,000 | 8,296,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 155,507,000 | 154,654,000 | 160,007,000 | 152,620,000 |
| Interest-bearing deposits | 120,692,000 | 116,967,000 | 118,430,000 | 114,413,000 |
| Noninterest-bearing deposits | 34,815,000 | 37,687,000 | 41,577,000 | 38,207,000 |
| Equity capital | 25,946,000 | 25,637,000 | 26,305,000 | 26,283,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 2,608,000 | 5,097,000 | 7,665,000 | 10,198,000 |
| Interest expense | 1,175,000 | 2,375,000 | 3,564,000 | 4,723,000 |
| Net interest income | 1,433,000 | 2,722,000 | 4,101,000 | 5,475,000 |
| Noninterest income | 74,000 | 119,000 | 141,000 | 161,000 |
| Noninterest expense | 1,012,000 | 1,819,000 | 2,635,000 | 3,809,000 |
| Provision for loan losses | 0 | 0 | 0 | 0 |
| Pretax income | 495,000 | 1,018,000 | 1,603,000 | 1,823,000 |
| Income tax | 129,000 | 268,000 | 418,000 | 507,000 |
| Net income | 366,000 | 750,000 | 1,185,000 | 1,316,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 27,231,000 | 26,918,000 | 27,354,000 | 27,485,000 |