Applications / Mortgage Analytics / Lenders / Tennessee / Independent Bank
Memphis, TN · State non-member bank · FDIC · $1.8 billion assets · 120 loans in 2025
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120
loans originated, 2025
158
applications, 2025
6
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Independent Bank, a Memphis lender, makes far more government-backed loans than similar banks, but it has made fewer loans every year since 2020.
The Federal Housing Administration (FHA) insured 11.7% of its loans, and the Department of Veterans Affairs (VA) guaranteed 4.2%. The typical similar lender (state non-member banks making between half and twice as many loans) made none of either. Only a few of them had higher shares. Purchases made up 70.0% of its lending.
Majority-minority neighborhoods took 31.7% of its loans, against 5.8% at similar lenders, more than at four in five of them. Low- and moderate-income (LMI) neighborhoods took 28.2%, against 17.7%. Memphis has been its largest market since 1999, and the make-up of its neighborhoods may account for much of both figures.
Its typical loan was $275,000, larger than at more than four in five similar lenders, where it was $175,000. So although it made about as many loans as the typical peer, it lent $51.4 million, against $31.4 million.
Its loans fell by 22% in 2025, from 153 to 120, while similar lenders grew. It has made fewer loans every year since 2020, when it made 950, more than double its 2019 total. Part of the fall may be a return from that peak. The record does not show what explains the rest.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Independent Bank took 158 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 70.0% · Refinance 30.0%
Conventional 84.2% · FHA 11.7% · VA 4.2% · of 120 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 |
|---|---|---|
| Tennessee | 91 | 75.8% |
| Mississippi | 15 | 12.5% |
| Arkansas | 7 | 5.8% |
| Florida | 3 | 2.5% |
| Alabama | 2 | 1.7% |
| North Carolina | 2 | 1.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Memphis | 103 |
| Crestview-Fort Walton Beach-Destin | 3 |
| Daphne-Fairhope-Foley | 2 |
| Charlotte-Concord-Gastonia | 1 |
| Fayetteville-Springdale-Rogers | 1 |
| Jackson | 1 |
| Jackson | 1 |
| Knoxville | 1 |
| Texarkana | 1 |
| Winston-Salem | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300RBN5KM5RUFOE42 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 2666400 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 334728 | 1999–2017 |
Established 20 April 1998. Reported under HMDA 1999-2025.
Mergers, name changes, data editions and corrections: Independent Bank's data.
Independent Bank's data
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