Independence Bancshares Inc (IEBS) financial statements (2022 and earlier)

Company profile

Business Address 500 E. WASHINGTON STREET
GREENVILLE, SC 29602
State of Incorp. SC
Fiscal Year End December 31
SIC 6021 - National Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments13,27524,58826,52014,42222,639
Cash and cash equivalents10,77513,90010,90414,42222,639
Short-term investments2,50010,68815,616  
Total current assets:13,27524,58826,52014,42222,639
Noncurrent Assets
Property, plant and equipment2,0262,1992,3842,5132,190
Total noncurrent assets:2,0262,1992,3842,5132,190
Other undisclosed assets75,14970,68171,80887,334100,056
TOTAL ASSETS:90,44997,467100,712104,269124,884
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt114113154  
Total current liabilities:114113154  
Noncurrent Liabilities
Other undisclosed liabilities80,39184,71091,14889,962104,325
Total liabilities:80,50584,82391,30189,962104,325
Stockholders' equity
Stockholders' equity attributable to parent, including:9,94412,6449,41114,30720,560
Additional paid in capital43,05443,04335,12434,73933,746
Accumulated other comprehensive income (loss)(8)1141(1,217)8
Accumulated deficit(33,306)(30,718)(25,920)(19,419)(13,392)
Other undisclosed stockholders' equity attributable to parent205205205205197
Total stockholders' equity:9,94412,6449,41114,30720,560
TOTAL LIABILITIES AND EQUITY:90,44997,467100,712104,269124,884

Income statement (P&L) ($ in thousands)

12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Revenues3,8963,4123,753  
Net investment income3,2723,1943,388  
Financial services revenue624218365  
Cost of revenue
(Financial Services Costs)
(407)(150) (105) 
Gross profit:3,4893,2623,753(105) 
Operating expenses(4,969)(7,503)(9,633)(5,538)(2,299)
Operating loss:(1,480)(4,241)(5,879)(5,643)(2,299)
Nonoperating expense(512)(457)(631)(1,590)(43)
Losses on sales of other real estate(512)(457)(651)(1,590)(43)
Interest and debt expense(326)(331)(312)(490)(967)
Loss from continuing operations before equity method investments, income taxes:(2,319)(5,030)(6,822)(7,723)(3,309)
Other undisclosed income (loss) from continuing operations before income taxes(269)2363221,6962,696
Loss from continuing operations before income taxes:(2,588)(4,793)(6,500)(6,028)(613)
Income tax expense (benefit)945(5)2,339 266
Net loss:(1,643)(4,799)(4,162)(6,028)(347)
Other undisclosed net loss attributable to parent(945) (2,339) (266)
Net loss available to common stockholders, diluted:(2,588)(4,799)(6,500)(6,028)(613)

Comprehensive Income ($ in thousands)

12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Net loss:(1,643)(4,799)(4,162)(6,028)(347)
Other comprehensive income (loss)(122)113   
Comprehensive loss:(1,765)(4,686)(4,162)(6,028)(347)
Other undisclosed comprehensive loss, net of tax, attributable to parent(945) (1,121)(1,225)(343)
Comprehensive loss, net of tax, attributable to parent:(2,710)(4,686)(5,282)(7,253)(689)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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