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As of 8:10 PM 09/26/14 All times are local (Market data is delayed by at least 15 minutes).

independence bancshares inc (IEBS) Snapshot

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Day High
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52 Week High
10/3/13 - $2.75
52 Week Low
09/19/14 - $0.90
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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independence bancshares inc (IEBS) Details

Independence Bancshares, Inc. operates as the holding company for Independence National Bank that provides various banking products and services to consumers and small- to mid-sized businesses primarily in Greenville County, South Carolina. The company accepts various deposits products, such as checking accounts, commercial accounts, NOW accounts, savings accounts, and time deposits of various types ranging from daily money market accounts to long-term certificates of deposit. It also offers commercial real estate loans, construction and development real estate loans, residential real estate loans and home equity loans, and commercial business loans, as well as consumer loans comprising loans to individuals for personal and household purposes, including secured and unsecured installment loans, and revolving lines of credit. In addition, the company provides other community banking services, such as cashier’s checks, banking by mail, direct deposit, remote deposit capture, the United States Savings Bonds, and travelers’ checks services. Further, it offers debit and credit card transactions, sales of checks, wire transfers, ATMs, merchant banking, online banking, bill payment, and cash management services, as well as digital banking, and payments and transaction services. The company primarily serves small business owners, the legal and medical communities, insurance agencies, and clients owning and developing income producing properties. It operates through three full service branch offices. The company is headquartered in Greenville, South Carolina.

37 Employees
Last Reported Date: 03/31/14

independence bancshares inc (IEBS) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $360.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $190.0K
Chief Executive Officer of Independence Natio...
Total Annual Compensation: $160.6K
Chief Credit Officer, Executive Vice Presiden...
Total Annual Compensation: $119.3K
Compensation as of Fiscal Year 2013.

independence bancshares inc (IEBS) Key Developments

Independence Bancshares Inc. Announces the Resignation of A. Alexander Mclean, III as a Director and Member of Audit Committee

On July 21, 2014, Robert B. Willumstad, the Chairman of the board of directors of Independence Bancshares Inc. received a letter from A. Alexander McLean, III, a member of the boards of directors of the company since 2008, in which Mr. McLean informed the chairman that he was tendering his resignation as a director of the company effective as of the date of the letter. As a result, Mr. McLean would also cease to be a member of the company's Audit Committee effective as of the date of his resignation.

Independence Bancshares Mulls Acquisitions

Independence Bancshares Inc. (OTCPK:IEBS) is seeking acquisitions. The company stated in its 8-K, "We may also consider acquisition of companies, licenses or certain types of technology or distribution channels as well as other regulated depositories if they have strategic or tactical value in executing on this business strategy."

Independence Bancshares Expands Senior Management Team

Independence Bancshares Inc. announced that former TD Bank Senior Vice President Greg Snell has joined the company to expand its deposit operations, controls and Bank Secrecy Act (BSA) compliance functions. Mr. Snell brings more than two decades of compliance, deposit operations and regulatory management experience. In his most recent capacity as a Senior Vice President and Director of Control Processes at TD Bank, Mr. Snell was responsible for developing and maintaining the strategic direction of the bank's Control Processes Group and helping to strengthen the Bank's overall control environment. Previously, he held positions at TD Bank, TD Canada Trust and Commerce Bancorp overseeing items processing, check operations, fraud mitigation deposit operations and transaction services. Mr. Snell's appointment follows the additions of former Verizon Wireless executives Aditya Khurjekar and Humphrey Chen to the company's management team last fall.


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Valuation IEBS Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 5.7x
Price/Book 1.7x
Price/Cash Flow NM Not Meaningful
TEV/Sales 2.9x

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