Company Profile
- BancIndependent, Inc. (“BI” “the company”) is a primarily family-owned BHC for its sole subsidiary, Bank Independent (“the Bank”), a market leading community bank founded in 1947 and chartered in Sheffield, Alabama with deep roots in Northern AL.
- BI operates as a traditional full-service commercial bank with 34 branches across Northern AL, with a growing presence in Huntsville complemented by dominant market share in “legacy” markets of Florence and Muscle Shoals, in which it has a deep presence. BI is unique from most peers due to its Interstate Billing Services (IBS) business, a subsidiary of the commercial bank which it acquired from Regions Bank in 2009, providing accounts receivable financing and corporate billing services nationwide.
- The loan book is well diversified across segments, led by NOOCRE at 23% and C&I at 22%. Management does not anticipate a material portfolio mix shift but eyes across-the-board growth in Huntsville.…