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Q2 2026 · read from the 30 June 2026 Call Report · United States · Mountain West · Montana, the state note

Independence Bank

Havre, Montana · $1.39B in assets · beside the 11 other the Mountain West banks between $1B and $3B (the state alone holds too few in the band to rank)

The filing

9.3%
CRE / loans
1st of 11
51.2%
CRE / capital
2nd of 12
92.4%
Loans / deposits
9th of 11

Independence Bank is the seventh largest of the 12 the Mountain West banks nearest its size between $1B and $3B, with $1.39B in assets at 30 June 2026. Loans are 92.4% of deposits, 9th of 11 against a median of 86.4%, and equity is 12.1% of assets, 6th of 12. Loans grew +11.4% in the year, 5th of 11, and deposits grew 1.4%; the cohort's median loan growth is +6.4%.

Noncurrent loans are 0.46% of the book, 5th of 11 against a median of 0.49%; 0.16% is 30 to 89 days past due, and the allowance covers them 2.9 times. Commercial real estate is 9.3% of loans, the lowest in the cohort against a median of 31.8%, and 51% of capital, below the 300% screen, with construction at 4% against the 100% screen. CRE has grown +156.1% over 36 months, past the guidance's 50% prong.

Return on assets is 1.90%, 4th of 12 against a median of 1.52%, on an efficiency ratio of 41.7%, 4th of 12. Five years ago it was 1.71%. The question is which of these lines moves first over the next four quarters, and against which peer.

Commercial real estate, share of loansMountain West banks $1B to $3B · 30 June 2026 · lower is stronger, listed first
median 31.8% IB Independence Bank 9.3% TA Transportation Alliance Bank D 24.0% QB Quill Bank 25.5% IF Idaho First Bank 27.7% FF First FSB of Twin Falls 28.0% YB Yellowstone Bank 31.8% FB Fortis Bank 33.2% PB Pinnacle Bank Wyoming 34.9% SN Solera National Bank 35.9% NB Northwest Bank 48.2% G Gbank 83.2%
Loans, year over yearMountain West banks $1B to $3B · 30 June 2026 · no better direction, largest first
median +6.4% IF Idaho First Bank +48.8% QB Quill Bank +31.3% G Gbank +19.8% SN Solera National Bank +19.2% IB Independence Bank +11.4% YB Yellowstone Bank +6.4% PB Pinnacle Bank Wyoming +6.2% FB Fortis Bank +3.6% FF First FSB of Twin Falls +0.6% TA Transportation Alliance Bank D -4.4% NB Northwest Bank -6.2%

SBA 7(a), FY2008 to FY2026

Independence Bank is the 75th largest 7(a) lender into Montana of 172, with $3M across 28 loans, 0.2% of everything approved in the state (Glacier Bank leads with $190M). 7 of its 7 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Montana, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Valley, MT$1M2nd of 511.1%quiet FY2009
Hill, MT$716K3rd of 713.1%quiet FY2009
Phillips, MT$440K5th of 76.4%quiet FY2008
Daniels, MT$356K3rd of 411.9%quiet FY2009
Blaine, MT$273K8th of 135.6%quiet FY2009
Ravalli, MT$230K27th of 340.4%quiet FY2009
Roosevelt, MT$20K9th of 90.4%quiet FY2009
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Retail trade7$2M52.8%0.00%1287th of 2,589
Other services3$460K15.1%0.00%1510th of 2,248
Manufacturing4$310K10.2%0.00%1851st of 2,246
Administrative & waste services7$268K8.8%0.00%1289th of 1,763
Accommodation & food services2$135K4.4%0.00%2393rd of 2,596
7(a) lenders into Montana, share of approvals since FY2008172 lenders on record; the ten largest and Independence Bank
GB Glacier Bank 11.4% $190M · 1,055 loans TY The Yellowstone Bank 8.3% $138M · 434 loans FI First Interstate Bank 8.2% $136M · 514 loans LO Live Oak Banking Company 6.4% $106M · 82 loans WF Wells Fargo Bank National Associa… 6.1% $101M · 426 loans SB Stockman Bank of Montana 3.9% $64M · 336 loans TR Three Rivers Bank of Montana 3.5% $58M · 162 loans Bo Bank of Bridger National Associat… 2.6% $43M · 215 loans OB Opportunity Bank of Montana 2.3% $38M · 101 loans AG Alaska Growth Capital Bidco, Inc. 2.3% $38M · 18 loans IB Independence Bank 0.2% $3M · 28 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 5 CBLR filers; owner-occupied excluded; bold marks a screen met
Independence BankRankCohort median
Total CRE against capital, the 300% screen51%2nd of 12173%
Construction against capital, the 100% screen4%3rd of 1247%
Construction and land development, share of loans0.8%2nd of 118.8%
Non-owner-occupied nonfarm nonresidential, share of loans5.8%1st of 1117.0%
Total CRE, the guidance definition, share of loans9.3%1st of 1131.8%
CRE growth over 36 months, the third prong+156.1%10th of 11+41.2%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Transportation Alliance Bank D$1.59B1.1%61.1%1.79%2.23%1.5%90.9%11.3%
Quill Bank$1.56B5.2%32.4%2.54%5.93%3.9%96.7%14.1%
Solera National Bank$1.55B1.6%49.0%1.45%0.05%1.5%69.7%7.7%
Northwest Bank$1.45B1.5%55.1%3.79%0.89%1.5%78.4%16.1%
Gbank$1.43B1.3%60.1%4.96%0.48%1.1%90.0%13.0%
First FSB of Twin Falls$1.42B1.3%67.8%0.01%0.01%1.0%86.4%9.7%
Independence Bank$1.39B1.9%41.7%0.46%0.00%1.3%92.4%12.1%
Idaho First Bank$1.36B0.9%52.8%0.05%0.12%1.2%78.2%10.5%
Fortis Bank$1.35B0.7%75.9%0.49%0.03%0.9%95.3%8.6%
Yellowstone Bank$1.34B3.0%31.2%0.01%0.00%0.6%67.0%12.7%
Wells Fargo Trust Co. N.A.$1.33B2.0%3.9%no recordno recordno recordno record95.6%
Pinnacle Bank Wyoming$1.30B1.7%47.2%0.26%0.01%1.2%80.2%9.8%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Independence BankCohort median
20212026Change20212026Change
Loans$753M$1.11B+47%$636M$1.00B+58%
Deposits$1.00B$1.20B+20%$832M$1.20B+45%
NPA / loans0.01%0.46%+0.45 pts0.35%0.49%+0.13 pts
Efficiency39.5%41.7%+2.2 pts53.9%50.9%-3.0 pts
ROA1.71%1.90%+0.20 pts1.71%1.52%-0.19 pts

This read was prepared for Independence Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Independence Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort Mountain West banks $1B to $3B
Institution www.ibyourbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by New England and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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