About Independent Bank
Independent Bank is a company based in Mckinney (United States) founded in 1913 was acquired by South State Bank in May 2024.. The company has 1,517 employees as of December 31, 2023. Independent Bank has completed 7 acquisitions, including Carlile Bancshares, Guaranty Bancorp and Houstoncitybancshares. Independent Bank offers products and services including Business Accounts, Mobile Deposit, SBA Loans, Treasury Solutions, and Mortgage Loans. Independent Bank operates in a competitive market with competitors including Truist, Investec, Equity Bank, Citi and KeyBank, among others.
- Headquarter Mckinney, United States
- Employees 1517 as on 31 Dec, 2023
- Stage Public
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Independent Bank
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
$21 M (USD), Post-IPO
Nov 30, 2016
- Investors
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Employee Count
1517
as on Dec 31, 2023
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Investments & Acquisitions
Carlile Bancshares
& 6 more
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Acquired by
South State Bank
(May 20, 2024)
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Products & Services of Independent Bank
Independent Bank offers a comprehensive portfolio of products and services, including Business Accounts, Mobile Deposit, SBA Loans, Treasury Solutions, and Mortgage Loans. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Accounts for managing business finances and transactions
App for quick and secure check deposits
Government-backed loans for small businesses
Tools for payables, receivables, and fraud prevention
Loans for home buying, building, or refinancing
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Leadership Team
44 people
Software Development Team
17 people
Commercial Team
6 people
Finance and Accounting
3 people
Data Analysis and Operations Team
3 people
Operations Team
2 people
Human Resources and Administration
2 people
Sales and Marketing
2 people
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Funding Insights of Independent Bank
- Total Funding Total Funding
- Total Rounds 2
- Last Round Post-IPO — $21.0M
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First Round
First Round
(30 Jun 2016)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2016 | Amount | Post-IPO - Independent Bank | Valuation |
investors |
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| Jun, 2016 | Amount | Debt – Conventional - Independent Bank | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Independent Bank
Independent Bank has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include South State Bank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Commercial banking services are provided throughout the southeastern United States.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Independent Bank
Independent Bank has strategically engaged in corporate development activities, having acquired 7 companies. Notable acquisitions include Carlile Bancshares, Guaranty Bancorp and Houstoncitybancshares. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Commercial banking services are provided in Fort Worth, United States.
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2009 | ||||
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Commercial banking services are provided in Houston, United States.
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2000 | ||||
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Commercial bank
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1998 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Independent Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Independent Bank Comparisons
Competitors of Independent Bank
Independent Bank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Truist, Investec, Equity Bank, Citi and KeyBank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Wealth advisory and banking services are offered to clients.
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| domain | founded_year | HQ Location |
Global banking, investment, and wealth management services are offered worldwide.
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| domain | founded_year | HQ Location |
Commercial banking services are provided to businesses and individuals.
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| domain | founded_year | HQ Location |
Diversified financial services are offered through commercial banking operations.
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| domain | founded_year | HQ Location |
Regional bank
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| domain | founded_year | HQ Location |
Commercial banking services are provided across the United States.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Independent Bank
Frequently Asked Questions about Independent Bank
When was Independent Bank founded?
Independent Bank was founded in 1913 and raised its 1st funding round 103 years after it was founded.
Where is Independent Bank located?
Independent Bank is headquartered in Mckinney, United States. It is registered at Mckinney, Texas, United States.
Who is the current CEO of Independent Bank?
David Brooks is the current CEO of Independent Bank.
How many employees does Independent Bank have?
As of Dec 31, 2023, the latest employee count at Independent Bank is 1,517.
What does Independent Bank do?
Independent Bank was established in 1913 and is headquartered in McKinney, United States. Operations focus on commercial banking within the financial sector, where deposit accounts, loans, and related services are offered to businesses and individuals. Leadership is provided by CEO and President David Brooks. The banks activities are centered in the U.S., supporting regional economic needs through standard banking practices.
Who are the top competitors of Independent Bank?
What products or services does Independent Bank offer?
Independent Bank offers Business Accounts, Mobile Deposit, SBA Loans, Treasury Solutions, and Mortgage Loans.
How many acquisitions has Independent Bank made?
Independent Bank has made 7 acquisitions, including Carlile Bancshares, Guaranty Bancorp, and Houstoncitybancshares.
Who are Independent Bank's investors?
Independent Bank has 1 investor. Key investors include South State Bank.