Independence Bancshares, Inc.
Financials · National Commercial Banks · SC · SEC filings ↗ · Compare ⊕
Financials
SEC XBRL · annual| FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — |
| Net income | −$2.6M | −$4.8M | −$6.5M | −$6.0M | −$613,036 | −$2.1M |
| Total assets | $90.4M | $97.5M | $100.7M | $104.3M | $124.9M | $112.3M |
| Total liabilities | $80.5M | $84.8M | $91.3M | $90.0M | $104.3M | $103.9M |
| Equity | $9.9M | $12.6M | $9.4M | $14.3M | $20.6M | $8.4M |
| EPS (diluted) | — | — | — | — | — | — |
| Shares out. | 20.5M | 20.5M | 20.5M | 19.7M | 2.1M | 2.1M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2016- Operating margin
- —
- Net margin
- —
- Return on equity
- −26.0%
- Return on assets
- −2.9%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 89.0%
- Debt / equity
- 8.10×
- Book value / share
- $0.49
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2016- Accruals / assets
- −0.5%clean
- Piotroski F-Score
- 3/6weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 severe● 2 warning● 1 good- Filed a late-filing notice (Form NT) — missed an SEC deadline
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Kmissed a reporting deadline ↗Apr 1, 2015
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Willumstad Robert BDirector | Jan 23, 2018 | D | 1.3M | $0.13 |
| Stock KeithDirector | Jan 23, 2018 | D | 125,000 | $0.13 |
| Hipp H Neel JrDirector | Jan 23, 2018 | D | 201,500 | $0.13 |
| Miller Lawrence ROfficer — INTERIM CHIEF EXECUTIVE OFFICE | Jan 23, 2018 | D | 93,750 | $0.13 |
| Moore E FredOfficer — CHIEF CREDIT OFFICER | Jan 23, 2018 | D | 4,125 | $0.13 |
| Long Martha L.Officer — CHIEF FINANCIAL OFFICER | Jan 23, 2018 | D | 62,500 | $0.13 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Material events
SEC Form 8-K · most recent- Completed an acquisition or disposition · Modified shareholder rights · Change in controlJan 23, 2018
- Shareholder voteJan 9, 2018
- Entered a material agreement · Director / officer change · Amended charter or bylaws · Other material eventSep 26, 2017
- Director / officer changeDec 16, 2016
- Shareholder voteNov 17, 2016
- Entered a material agreement · Director / officer changeJan 5, 2016
- Shareholder voteNov 10, 2015
- Director / officer changeOct 5, 2015
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- RWREGISTRATION WITHDRAWAL REQUESTAug 28, 2018
- SC 13D/AMar 12, 2018
- 15-12GCERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(G)Feb 1, 2018
- 4PRIMARY DOCUMENTJan 25, 2018
- 4PRIMARY DOCUMENTJan 25, 2018
- 4PRIMARY DOCUMENTJan 25, 2018
- 4PRIMARY DOCUMENTJan 25, 2018
- 4PRIMARY DOCUMENTJan 25, 2018
- 4PRIMARY DOCUMENTJan 25, 2018
- 4PRIMARY DOCUMENTJan 25, 2018
- 4PRIMARY DOCUMENTJan 25, 2018
- S-8 POSPOST-EFFECTIVE AMENDMENT TO A S-8 REGISTRATION STATEMENTJan 24, 2018
- S-8 POSPOST-EFFECTIVE AMENDMENT TO A S-8 REGISTRATION STATEMENTJan 24, 2018
- SC 13D/AAMENDMENT NO. 1 TO SCHEDULE 13DJan 24, 2018
- 8-KCURRENT REPORTJan 23, 2018
Event-driven situations (1)
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