The same resolve that saved the struggling rural communityof Leighton, Alabama 72 years ago continues to shape theeconomic health and quality of life across North Alabama.
“Faced with the unexpected loss of the area’s only bank in1947, a group of farmers in Colbert County took charge oftheir community’s future. They wanted local control and hada shared commitment to making the community a betterplace to live and work. They formed what would eventuallybe known as Bank Independent,” explains Rick Wardlaw,CEO and 20-year veteran of Bank Independent. “One ofthose founders, Ed Mauldin, believed the maxim that ‘arising tide lifts all boats.’ He and the founders, and his sonsafter him, were committed to the idea that the bank wouldbe successful only if it made a positive difference inpeople’s lives.”
Today, Bank Independent is a financial engine that fuelsNorth Alabama’s robust economy, including MadisonCounty, the fastest growing county in the state.
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“You can’t overestimate the value of astrong, stable full-service communitybank,” says Wardlaw. “Because wehave more than $1.6 billion in assetsand sophisticated technology, weoffer a better level of service than thebig banks. We are locally-owned andoperated. Lending decisions can bemade quickly, without unnecessaryred tape, in order to take advantageof opportunities as they arise.”
Visionary Leadership Helps Change Region’s Landscape
Evidence of Bank Independent’s impact on North Alabama is everywhere. Local businesses thrive with support from thededicated Treasury Solutions team. The bank’s Sync Mobile App allows families and businesses to bank securely 24/7from anywhere in the world. Or, even easier, they can bank without touching a keyboard. Bank Independent is among theearliest adopters of voice-activated banking with Amazon Alexa/Echo devices.
With its focus on commercial banking, Bank Independent is a leading catalyst for positive change in the region. BankIndependent financed the first of four phases of the Mid City development in Huntsville, Alabama. The 100-acre project isthe country’s fourth-largest real estate project. It will make Mid City a first-class entertainment destination.
West Huntsville is undergoing a revitalization as well, thanks in part to the financial support Bank Independent could offer.The old Martin Stove building has been transformed into a complex of restaurants, offices, event spaces and recreationalspots called Stovehouse. “We were attracted to projects like this and Campus No. 805, a 13-acre former middle schoolturned mixed-use development, because we believe adaptive reuse is a much better way to revitalize the city as well asconserve our resources and heritage,” says Wardlaw, who took the reins as CEO in 2018.
Bank Independent’s founders gambled that a successful bank should first and foremost be a good corporate neighborand an employer of integrity. We now have more than seven decades of proof they were right.
“We are committed to following those same values today, even as we continueour rapid growth,” says Wardlaw. “We give our employees the support theyneed to succeed, and we offer unusually generous benefits such as $0-payhealth insurance, a 401(k) match and even a pension. Our team members havevolunteered nearly 7,000 hours to 82 local organizations, with a $1.02 millionimpact on the region. That’s our mission – making a positive difference in thelives of our team members, our customers, and our community.”
This content was provided by Financial Service Directory. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
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