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Independence Bancshares, Inc. (SC) (IEBS)

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Last Post: 7/28/2016 10:06:29 AM - Followers: 9 - Board type: Free - Posts Today: 0

Independence Bancshares, Inc. (SC)




Independence National Bank
500 E. Washington St.
Greenville, SC

(864-672-1776)

www.independencenb.com

Opened May 16, 2005
3 Branches





Link to All SEC Filings


REVENUES

Quarter          Sale:Assets    Deposits        Assets             Liabilities
5/7/10            19.63%           109.4M           $137.7M         121.6M
8/9/10            19.64%           107.4M           $132.5M         $117.6M
11/5/10           17.31%            104.9M           $123.9M         $112.0M
3/7/11             17.52%            106.M             $121.8M         $111.4M
5/13/11           20.36%           104.5M           $120.6M        $111.7M
8/10/11          20.44%           100.1M           $116.7M         107.6M


Annual Average Deposits from 10-K
2006   $40.4M
2007   $73.0M
2008  $93.7M
2009   $101.2M
2010   $106.1M


SHARE STRUCTURE

Market Value  $354,452         a/o 10/24/2011
Shares Outstanding     2,085,010        a/o 9/30/2011
Float    N/A
Authorized Shares      100,000,000    a/o 9/30/2011
No par value
Shareholders of Record:         549      a/o 3/7/2011


Outstanding Shares have not changed since company opened on May 16, 2005,
at an opening price of $10 per share.


BUSINESS STRATEGY
 

General
 
Independence Bancshares, Inc. (the "Company") is a South Carolina corporation organized to operate as a bank holding company pursuant to the Federal Bank Holding Company Act of 1956 and the South Carolina Banking and Branching Efficiency Act of 1996, and to own and control all of the capital stock of Independence National Bank (the "Bank").  Our Bank is a national association organized under the laws of the United States and provides banking services to consumers and small- to mid-size businesses, principally in Greenville County, South Carolina.  The Bank opened for business on May 16, 2005.
 
Marketing Focus
 
Our primary focus and target market is to fulfill the financial needs of small business owners, the legal community, the medical community, insurance agencies, and clients owning and developing income producing properties primarily in the City of Greenville and the broader Greenville metropolitan area.  In the past, we have also focused on real estate developers, including clients involved in residential construction and acquisition/development; however due to the current real estate market, we have limited our focus in these areas over the last several years.  We intend to use our "closeness" to the market via local ownership, quick response time, pricing discretion, person to person relationships and an experienced, well known senior management team in leveraging our market share in the greater Greenville area while looking for ways to differentiate the Bank from our competition.
 
Banking Services
 
The Bank is primarily engaged in the business of accepting demand and time deposits and providing commercial, consumer and mortgage loans to the general public.  Deposits in the Bank are insured by the Federal Deposit Insurance Corporation ("FDIC") up to a maximum amount, which is currently set at $250,000 per depositor.  Other services which the Bank offers include online banking, commercial cash management, remote deposit capture, safe deposit boxes, bank official checks, traveler's checks, and wire transfer capabilities.
 
Location and Service Area
 
Our primary market is Greenville County, which is located in the upstate region of South Carolina.  The cities of Fountain Inn, Greenville, Greer, Mauldin, Simpsonville, and Travelers Rest make up Greenville County.  The Greenville metropolitan area, positioned on the I-85 corridor, is home to one of the nation's largest concentrations of international investment.  As of 2010, Greenville County has a population of approximately 450,000, with a five-year projected growth rate of almost 2%.  The area's demographics have changed considerably over the past 10 years and currently over 19,000 businesses are operating within the county limits.
 
Our main office is located in Greenville, one block off a major artery, and provides excellent visibility for the Bank.  In October 2007 we opened a full service branch on Wade Hampton Boulevard in Taylors, South Carolina.  In February 2009, we opened our third full service location in Simpsonville, South Carolina at the intersection of Highways 14 and 417.  These branch offices have extended the market reach of our Bank and have increased our personal service delivery capabilities to all of our customers.  We have and plan to continue to take advantage of existing contacts and relationships with individuals and companies in this area to more effectively market the services of the Bank.
 
Market Share
 
As of June 30, 2010, the most recent date for which market data is available, total deposits in the Bank's primary service area were over $12.7 billion, a slight decrease of less than 1% from $12.8 billion as of June 30, 2009.  At June 30, 2010, the Bank's deposits represented 0.85% of the market, increasing from 0.81% at June 30, 2009.
 
Employees
 
As of March 7, 2011, we had 23 full-time employees and two part-time employees.



 




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IEBS
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IEBS News: Quarterly Report (10-q) 08/10/2016 10:09:34 AM
PostSubject
#315   $IEBS..Independence Bancshares, Inc. FDIC Call Report 1center 07/28/16 10:06:28 AM
#314   Getting a little interest down here $IEBS 1center 07/21/16 03:09:20 PM
#313   $IEBS 0.19c Independence Bancshares, Inc. Greenville SC 1center 06/15/16 11:34:47 PM
#312   OCC Terminates Consent Order (6/05/14) Enterprising Investor 06/05/14 11:25:54 PM
#311   gee this is a winner jmurfk 10/03/13 08:53:08 PM
#310   IEBS wow! nice move! Buttonwood 10/03/13 08:46:36 PM
#309   Yep, been watching lately. It hit 2.75. jmurfk 10/03/13 08:44:35 PM
#308   Geesh, just noticed this hit 2.50 today. Mark 10/03/13 07:59:48 PM
#307   This company has come a long way. triadtreats 09/27/13 07:59:45 PM
#306   IEBS is already up by 100%.now it is kranthikumar 09/27/13 10:01:16 AM
#305   You like it, huh? Caught this in jmurfk 06/11/13 09:07:29 PM
#304   gee this is a winner. Wonder if this cpw13154 06/11/13 08:32:49 PM
#303   Anyone read the latest SEC S1 filing? triadtreats 02/08/13 08:17:07 PM
#302   $14 mil at .80 is massive. jmurfk 01/09/13 10:08:03 PM
#301   New capital, new leadership and a buy in triadtreats 01/09/13 08:42:07 PM
#300   They're from a private placement. I wondered jmurfk 01/08/13 09:44:11 AM
#299   Loads of SEC Form 4 filings today. triadtreats 01/03/13 08:13:57 PM
#298   Nice 15k block yesterday :) triadtreats 12/20/12 10:28:13 AM
#297   Any comments on that last SEC filing? triadtreats 10/06/12 10:52:01 AM
#296   Nice to see the 40 cents! Got triadtreats 08/29/12 07:38:51 PM
#295   Looks like liquidity is improving here, and progress triadtreats 08/15/12 08:11:02 PM
#294   Lol. That would be funny. jmurfk 08/02/12 03:19:30 PM
#293   1.08 ask. I just might have to Greenduck 08/02/12 02:46:19 PM
#292   That's okay. At some point its going jmurfk 07/26/12 09:55:33 AM
#291   Guess I woke up the whackers....LOL Mark 07/26/12 09:50:37 AM
#290   10Q will be out in a few weeks. jmurfk 07/26/12 09:39:24 AM
#289   .25 x .40, thin Mark 07/26/12 09:38:09 AM
#288   Nice bid too. Looks like someone wants jmurfk 07/02/12 10:22:00 AM
#287   IEBS, getting some hits this am.... Mark 07/02/12 10:12:37 AM
#286   Nice. jmurfk 05/04/12 01:45:08 PM
#285   IEBS 10-Q out - income 9 bob10103 05/04/12 01:24:29 PM
#284   http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8187512 Immie 04/08/12 08:38:52 PM
#283   Little $480 ask slap to start the morning. jmurfk 03/22/12 09:32:16 AM
#282   Current market cap is $458k, and they have jmurfk 03/20/12 09:34:22 PM
#281   Thanks for pointing that out. Hopefully they triadtreats 03/20/12 09:33:11 PM
#280   Investor Relations page was updated recently; jmurfk 03/20/12 12:19:36 PM
#279   Ready to see that bid start pushing up again. jmurfk 03/20/12 09:22:40 AM
#278   It certainly will not take much. Greenduck 03/19/12 04:01:05 PM
#277   Bids have moved up a good bit too, jmurfk 03/19/12 03:56:13 PM
#276   Guess not, lol. Bunch of little taps, jmurfk 03/19/12 03:53:31 PM
#275   More little taps here. Guess my lowball Greenduck 03/19/12 03:52:27 PM
#274   From the 10K; jmurfk 03/19/12 03:40:36 PM
#273   I think it's a matter of time. jmurfk 03/19/12 03:35:26 PM
#272   LOL. jmurfk 03/19/12 03:30:54 PM
#271   That would be NICE. Whatever happens, I Greenduck 03/19/12 03:30:37 PM
#270   It sure doesn't take much. Personally, I jmurfk 03/19/12 03:29:42 PM
#269   Can't wait to see any kind of buying Greenduck 03/19/12 03:28:24 PM
#268   Would like to see the pop over $1. jmurfk 03/19/12 03:27:16 PM
#267   Watching. Greenduck 03/19/12 03:25:39 PM
#266   A few just went off at .23. jmurfk 03/19/12 03:02:18 PM
PostSubject