Applications / Mortgage Analytics / Lenders / Alabama / Bank Independent
Sheffield, AL · State member bank · FRS · $3.0 billion assets · 924 loans in 2025
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924
loans originated, 2025
1,239
applications, 2025
10
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Bank Independent is the largest lender in Florence-Muscle Shoals, Alabama, with an 11.8% share, and its originations rose 7% to 924 in 2025, in line with similar lenders.
It ranked 1 of 220 lenders in Florence-Muscle Shoals, where it has lent since before 1990, though its share fell 1.2 points to 11.8%, possibly as more of its lending went to Decatur. In Decatur it ranked 5 of 240 and its share rose 0.3 points to 3.1%; in Huntsville it held 1.0% and ranked 24 of 440.
Originations rose 7%, the same as at similar lenders (state member banks making between half and twice as many loans), against 10% for the whole market. They were 1,484 in 2020 and 802 in 2023. Purchases were 44.8% of its loans and refinances 35.7%.
Its typical loan was $145,000, against $205,000 at similar lenders. FHA loans (insured by the Federal Housing Administration) rose to 6.1% of its lending from 0.8% five years before, against 2.6% at peers. Its typical rate, 6.49%, was lower than about four in five peers (6.75%).
LMI (low- and moderate-income) areas took 19.4% of its loans, against 16.3% at similar lenders, and LMI borrowers 29.1%, against 27.7%.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Bank Independent took 1,239 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 44.8% · Refinance 35.7% · Other 12.0% · Home improvement 7.5%
Conventional 92.7% · FHA 6.1% · VA 1.1% · USDA (RHS or FSA) 0.1% · of 924 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Alabama | 895 | 96.9% |
| Tennessee | 11 | 1.2% |
| Mississippi | 6 | 0.6% |
| Florida | 4 | 0.4% |
| Georgia | 2 | 0.2% |
| Missouri | 2 | 0.2% |
| Illinois | 1 | 0.1% |
| Kansas | 1 | 0.1% |
| North Carolina | 1 | 0.1% |
| Texas | 1 | 0.1% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Florence-Muscle Shoals | 551 |
| Huntsville | 170 |
| Decatur | 115 |
| Birmingham | 5 |
| Crestview-Fort Walton Beach-Destin | 3 |
| Daphne-Fairhope-Foley | 3 |
| Tuscaloosa | 3 |
| Atlanta-Sandy Springs-Roswell | 2 |
| Knoxville | 2 |
| Mobile | 2 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300A7W1NQ3BYZCB68 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 539032 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 2539032 | 1990–2017 |
Established 2 August 1947. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Bank Independent's data.
Bank Independent's data
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