Total Assets
$14M
Total balance-sheet footings
FDIC Cert #57379 · East Greenwich, Rhode Island · Est. 2003
Independence Bank - FDIC Bank Health Profile
This profile flags real pressure points from the bank's own quarterly Call Report, read past the headline grade before drawing conclusions.
- $14M
- Total assets
- C
- Health grade · Fair
- -5.49%
- Return on assets
- 97.2%
- Tier 1 capital
Data updated July 2026
The verdict
Independence Bank earns a PlainBankData health grade of C (60/100), with well-capitalized at 97.21% Tier 1, -5.49% ROA, 218% efficiency ratio.
- #4,296
- largest of 4,313 FDIC banks by assets
- 0th
- percentile by asset size, nationally
- 97.21%
- Tier 1 ratio - above the 10% well-capitalized line
- 0th
- percentile for profitability (ROA), nationally
A weak grade is PlainBankData's own read of the Call Report data, not an official FDIC rating, and it does not change your insurance coverage: every dollar stays protected to $250,000 per depositor, per category.
How Independence Bank's 60/100 score adds up
Each factor is scored from this bank's own FDIC Call Report figures, then summed to the composite health score.
Independence Bank's composite health score
Tier 1 Capital Ratio (97.21%) 40/40
Return on Assets (ROA) (-5.49%) 0/25
Texas Ratio (0.00%) 20/20
Efficiency Ratio (218.18%) 0/15
60 of 100 points earned across four weighted factors. See our methodology for the full scoring formula.
Balance sheet at a glance
Total Deposits
$0K
Customer-funded liabilities
Net Loans
-
Outstanding loan book
Net Income
$-872K
Bottom-line earnings
Capital adequacy vs federal thresholds
Where Independence Bank ranks
Every one of the 4,307 FDIC-insured banks with a computed health score, bucketed by score. Independence Bank's score of 60/100 falls in the highlighted band.
Independence Bank's size among FDIC-insured banks
Every one of the 4,307 FDIC-insured banks with reported assets, bucketed by total-asset scale (note the buckets are powers of 10, most banks cluster in the $100M-$1B range). Independence Bank's $14M falls in the highlighted band.
Safety metrics
Tier 1 capital ratio
Well-capitalized 10%
97.21% of risk-weighted assets - above the federal "well-capitalized" threshold of 10%.
Tier 1 Capital Ratio
97.21%
Texas Ratio
0.00%
Equity Capital
$14M
Profitability metrics
Return on Assets (ROA)
0th percentile nationally
-5.49%
Return on Equity (ROE)
-5.82%
Efficiency Ratio
218.18%
What the numbers say about Independence Bank
Independence Bank is an FDIC-insured institution (Certificate #57379) headquartered in East Greenwich, Rhode Island, established in 2003. It holds $14M in total assets - 4,296th of 4,313 FDIC-insured banks, $0K in customer deposits, and - in net loans. On safety, its Tier 1 capital ratio of 97.21% is above the 10% well-capitalized threshold, and its Texas Ratio of 0.00% sits in the healthy range below 50%. It earns a PlainBankData health grade of C (60/100), a composite of Tier 1 capital, ROA, the Texas Ratio, and efficiency. All of it traces back to the bank's own quarterly FDIC Call Report filing.
By assets, Independence Bank ranks 6th of 6 banks based in Rhode Island -- squarely in the community-bank tier. Size alone doesn't determine a bank's local importance; a bank this size often has deeper, longer-standing relationships with the specific businesses and depositors it serves than a much larger institution would.
Income & expense breakdown
$646K
Interest Income
$91K
Non-Interest Income
$2M
Non-Interest Expense
Asset quality, Texas Ratio detail
The Texas Ratio compares troubled assets to the capital available to absorb losses. Independence Bank reports a Texas Ratio of 0.00% - comfortably in the healthy band; non-performing loans are a small fraction of the bank’s loss-absorbing capital.
Texas Ratio
Caution 50%
0.00% - lower is safer; 100% is the level at which troubled assets equal loss-absorbing capital.
What to watch at Independence Bank
Independence Bank's grade of C reflects specific pressure points in the FDIC Call Report. The bank reported negative net income of $-872K for the period, a loss that, if sustained, erodes the equity cushion.
Your deposits are still protected. Regardless of grade, FDIC insurance covers every dollar on deposit at Independence Bank up to $250,000 per depositor, per ownership category. A weak grade signals institutional financial stress for analysts, it is not a prediction of failure, and it does not affect insured-deposit safety.
Top banks in Rhode Island by total assets
Source: FDIC BankFind Suite, Call Report (FFIEC 031/041) Independence Bank (FDIC Cert #57379) - Tier 1 capital ratio, total assets, deposits, ROA/ROE · 2025 FDIC Call Reports filed quarterly; latest publicly-available vintage shown. Health grades are PlainBankData's interpretation of regulatory filings and are not official FDIC ratings.
Other banks in Rhode Island
All Rhode Island banks →| Bank | Assets | Grade | ROA |
|---|---|---|---|
| Citizens Bank, National AssociationProvidence | $225.9B | B | 0.87% |
| The Washington Trust Company, of WesterlyWesterly | $6.6B | B | 0.80% |
| Centreville BankWest Warwick | $3.0B | B | 1.01% |
| BankNewportMiddletown | $3.0B | B | 0.58% |
| Shoreham BankWarwick | $481M | B | 0.83% |
Frequently asked questions
What is Independence Bank's health grade?▼
Independence Bank receives a health grade of C (60/100) based on four FDIC financial metrics: Tier 1 Capital Ratio (40%), Return on Assets (25%), Texas Ratio (20%), and Efficiency Ratio (15%). This bank meets regulatory minimums but has some areas of financial weakness to monitor.
How large is Independence Bank?▼
Independence Bank holds $14M in total assets and $0K in deposits, ranking 4,296th of 4,313 FDIC-insured banks by asset size. It is headquartered in East Greenwich, Rhode Island.
Is my money safe at Independence Bank?▼
Yes, deposits at Independence Bank (Certificate #57379) are FDIC-insured up to $250,000 per depositor, per ownership category, regardless of health grade.
What is Independence Bank's Tier 1 Capital Ratio?▼
Independence Bank has a Tier 1 Capital Ratio of 97.21%. This exceeds the 10% threshold for "well-capitalized" status under federal banking regulations.
What is the Texas Ratio for Independence Bank?▼
Independence Bank has a Texas Ratio of 0.00%. A ratio below 50% is generally considered healthy. The Texas Ratio measures non-performing loans against equity and reserves, a higher ratio signals greater exposure to loan losses.
How efficient is Independence Bank?▼
Independence Bank has an Efficiency Ratio of 218.18%. Above 60% means a larger share of revenue goes to operating costs. This metric compares non-interest expenses to total revenue.
What to do with this
How to read Independence Bank's profile as a depositor or analyst.
- Independence Bank's grade reflects capital, profitability, and asset quality, read the four pillars before drawing conclusions. How grades work
- Compare Independence Bank against other Rhode Island banks before moving funds. Rhode Island banks
Not financial advice. Health grades are PlainBankData's interpretation of public FDIC Call Report data, not official FDIC ratings or predictions. Verify the latest figures at the FDIC BankFind Suite.
Every figure on PlainBankData is rendered directly from FDIC federal source data, no number is typed in by an editor. Informational only, not professional advice; consult a qualified professional before acting on it. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of Q4 2025.
Disclaimer: Data from the FDIC BankFind Suite. PlainBankData does not rate or rank banks as investment or safety recommendations. Health grades are informational only, computed from public regulatory filings. Always verify current standing directly with FDIC.gov before making financial decisions.