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 | 1,194,303,000 | 1,221,172,000 | 1,256,460,000 | 1,239,179,000 |
| Total loans | 855,823,000 | 911,078,000 | 936,178,000 | 918,341,000 |
| Allowance for loan losses | 12,244,000 | 12,298,000 | 12,458,000 | 12,598,000 |
| Securities available for sale | 241,218,000 | 237,603,000 | 246,722,000 | 238,004,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 1,047,458,000 | 1,080,115,000 | 1,092,814,000 | 1,086,514,000 |
| Interest-bearing deposits | 837,256,000 | 868,619,000 | 885,499,000 | 863,566,000 |
| Noninterest-bearing deposits | 210,202,000 | 211,496,000 | 207,315,000 | 222,948,000 |
| Equity capital | 127,938,000 | 131,578,000 | 142,426,000 | 140,274,000 |
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 | 15,773,000 | 32,507,000 | 50,406,000 | 68,353,000 |
| Interest expense | 5,738,000 | 11,937,000 | 18,513,000 | 24,939,000 |
| Net interest income | 10,035,000 | 20,570,000 | 31,893,000 | 43,414,000 |
| Noninterest income | 772,000 | 1,526,000 | 2,210,000 | 2,974,000 |
| Noninterest expense | 5,291,000 | 11,076,000 | 16,605,000 | 22,728,000 |
| Provision for loan losses | 62,000 | 114,000 | 274,000 | 417,000 |
| Pretax income | 5,454,000 | 10,906,000 | 17,224,000 | 23,265,000 |
| Income tax | 1,427,000 | 2,726,000 | 4,378,000 | 5,749,000 |
| Net income | 4,027,000 | 8,180,000 | 12,846,000 | 17,516,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 152,311,000 | 154,944,000 | 159,436,000 | 163,904,000 |
| Total capital | 164,468,000 | 167,242,000 | 171,894,000 | 176,502,000 |
| Risk-weighted assets | 972,530,000 | 1,055,717,000 | 1,042,492,000 | 1,029,745,000 |