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.…
Log in or Sign up for free access to this report.
KBRA is a global full-service rating agency with a mission to set a standard of excellence and integrity. Established in 2010, KBRA remains dedicated to the restoration of trust in credit ratings by creating new standards for assessing risk and by offering timely and transparent ratings. KBRA provides market participants with an alternative solution by delivering in-depth research across various sectors within the United States and European markets. We strive to provide the investment community with the products and tools needed to make informed investment decisions.