Independent Bank: how it compares with its peers
Against 31 TN banks with half to twice its assets, Independent Bank's strongest measure in Q2 2026 is net interest margin (4.62% vs. a 3.84% peer median). Its weakest relative measure is return on assets (1.26% vs. 1.30%).
| Measure | Independent Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.26% | 1.30% | Middle third Ahead of 42% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.62% | 3.84% | Top third Ahead of 84% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 60.73% | 56.71% | Middle third Ahead of 42% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $7.7M | $7.4M | Middle third Ahead of 52% of peers |
| Loans to deposits Net loans and leases over total deposits. | 81.45% | 80.38% | Context |
What it means for lending operations
Its efficiency ratio of 60.73% is above the 56.71% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- Wellworth Bank Lafayette, TN · $1.84B
- First Farmers and Merchants Bank Columbia, TN · $1.76B
- Citizens National Bank Sevierville, TN · $1.96B
- Security Bank and Trust Company Paris, TN · $1.70B
- One Bank of Tennessee Cookeville, TN · $1.67B
- Citizens Tri-County Bank Dunlap, TN · $1.64B
Questions about Independent Bank
How big is Independent Bank?
Independent Bank, established in 1998, is headquartered in Memphis, TN. It reported $1.85B in total assets in its Q2 2026 FDIC call report and operates 12 offices.
What is Independent Bank's return on assets?
1.26% annualized in Q2 2026, against a 1.30% median for 31 TN banks with half to twice its assets, ahead of 42% of them.
What is Independent Bank's efficiency ratio?
60.73% in Q2 2026: it spent about 61 cents in noninterest expense for each dollar of revenue. The peer median is 56.71%, and lower is better.
Is Independent Bank growing its loans?
Net loans grew 3.6% over the year to Q2 2026, while deposits grew 4.6%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are TN banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Tennessee bank ranked.