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Independent Bancshares, Inc.

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Name: Independent Bancshares, Inc.
Jurisdiction: Alabama
Legal type: Domestic Corporation
Status: Exists
Date of registration: 25 Nov 1981 (43 years ago) (Companies founded in November 1981)
Entity Number: 000-085-044
Register Number: 000085044
ZIP code: 35582 (Companies in Franklin, 35582)
County: Franklin
Place of Formation: Franklin County
Registered Office Street Address: FOURTH AVENUE SOUTHRED BAY, AL 35582
Authorized Capital: $1,000,000

form 5500

Plan Name Plan Year EIN/PN Received Sponsor Total number of participants
INDEPENDENT BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2023 630828070 2024-07-11 INDEPENDENT BANCSHARES, INC. 41
File View Page
Three-digit plan number (PN) 002
Effective date of plan 1988-01-01
Business code 551111
Sponsor’s telephone number 2563565632
Plan sponsor’s mailing address 200 FOURTH AVENUE SW, RED BAY, AL, 35582
Plan sponsor’s address P. O. BOX 449, RED BAY, AL, 35582

Number of participants as of the end of the plan year
Active participants 29
Retired or separated participants receiving benefits 9
Other retired or separated participants entitled to future benefits 2
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 0
Number of participants with account balances as of the end of the plan year 40
Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 1
COMMUNITY SPIRIT BANK 401(K) PLAN 2023 630015410 2024-07-24 INDEPENDENT BANCSHARES, INC. 29
File View Page
Three-digit plan number (PN) 001
Effective date of plan 2017-01-01
Business code 522110
Sponsor’s telephone number 2563564445
Plan sponsor’s address 200 4TH AVENUE SW, RED BAY, AL, 35582
INDEPENDENT BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2022 630828070 2023-06-16 INDEPENDENT BANCSHARES, INC. 44
File View Page
Three-digit plan number (PN) 002
Effective date of plan 1988-01-01
Business code 551111
Sponsor’s telephone number 2563565632
Plan sponsor’s mailing address 200 FOURTH AVENUE SW, RED BAY, AL, 35582
Plan sponsor’s address P. O. BOX 449, RED BAY, AL, 35582

Number of participants as of the end of the plan year
Active participants 27
Retired or separated participants receiving benefits 6
Other retired or separated participants entitled to future benefits 7
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 0
Number of participants with account balances as of the end of the plan year 39
Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 4
COMMUNITY SPIRIT BANK 401(K) PLAN 2022 630015410 2023-06-28 INDEPENDENT BANCSHARES, INC. 34
File View Page
Three-digit plan number (PN) 001
Effective date of plan 2017-01-01
Business code 522110
Sponsor’s telephone number 2563564445
Plan sponsor’s address 200 4TH AVENUE SW, RED BAY, AL, 35582
INDEPENDENT BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2021 630828070 2022-06-01 INDEPENDENT BANCSHARES, INC. 43
File View Page
Three-digit plan number (PN) 002
Effective date of plan 1988-01-01
Business code 551111
Sponsor’s telephone number 2563565632
Plan sponsor’s mailing address 200 FOURTH AVENUE SW, RED BAY, AL, 35582
Plan sponsor’s address P. O. BOX 449, RED BAY, AL, 35582

Number of participants as of the end of the plan year
Active participants 35
Retired or separated participants receiving benefits 5
Other retired or separated participants entitled to future benefits 4
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 0
Number of participants with account balances as of the end of the plan year 41
Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 3
COMMUNITY SPIRIT BANK 401(K) PLAN 2021 630015410 2022-06-01 INDEPENDENT BANCSHARES, INC. 36
File View Page
Three-digit plan number (PN) 001
Effective date of plan 2017-01-01
Business code 522110
Sponsor’s telephone number 2563564445
Plan sponsor’s address 200 4TH AVENUE SW, RED BAY, AL, 35582
COMMUNITY SPIRIT BANK 401(K) PLAN 2020 630015410 2021-06-04 INDEPENDENT BANCSHARES, INC. 27
File View Page
Three-digit plan number (PN) 001
Effective date of plan 2017-01-01
Business code 522110
Sponsor’s telephone number 2563564445
Plan sponsor’s address 200 4TH AVENUE SW, RED BAY, AL, 35582
INDEPENDENT BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2019 630828070 2020-10-02 INDEPENDENT BANCSHARES, INC. 44
File View Page
Three-digit plan number (PN) 002
Effective date of plan 1988-01-01
Business code 551111
Sponsor’s telephone number 2563565632
Plan sponsor’s mailing address 200 FOURTH AVENUE SW, RED BAY, AL, 35582
Plan sponsor’s address P. O. BOX 449, RED BAY, AL, 35582

Number of participants as of the end of the plan year
Active participants 31
Retired or separated participants receiving benefits 1
Other retired or separated participants entitled to future benefits 7
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 0
Number of participants with account balances as of the end of the plan year 36
Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 3
COMMUNITY SPIRIT BANK 401(K) PLAN 2019 630015410 2020-10-15 INDEPENDENT BANCSHARES, INC. 34
File View Page
Three-digit plan number (PN) 001
Effective date of plan 2017-01-01
Business code 522110
Sponsor’s telephone number 2563564445
Plan sponsor’s address 200 4TH AVENUE SW, RED BAY, AL, 35582
INDEPENDENT BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN 2018 630828070 2019-07-16 INDEPENDENT BANCSHARES, INC. 41
File View Page
Three-digit plan number (PN) 002
Effective date of plan 1988-01-01
Business code 551111
Sponsor’s telephone number 2563564445
Plan sponsor’s mailing address 200 FOURTH AVENUE SW, RED BAY, AL, 35582
Plan sponsor’s address P. O. BOX 449, RED BAY, AL, 35582

Number of participants as of the end of the plan year
Active participants 30
Retired or separated participants receiving benefits 0
Other retired or separated participants entitled to future benefits 5
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 0
Number of participants with account balances as of the end of the plan year 33
Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2

Signature of
Role Plan administrator
Date 2019-07-16
Name of individual signing BILLY M. BOLTON
Valid signature Filed with authorized/valid electronic signature

Incorporator

Name Role
BOLTON, BILLY M Incorporator

Agent

Name Role
BOLTON, BILLY M Agent

Events

Event Date Event Type Old Value New Value
2019-12-16 Name Merged No data Independent Merger Corporation

Related by officers

BOLTON, BILLY M

We Care Ministries, Inc. Interim Bank of Red Bay Bay Independent Insurance Agency, Inc. Red Bay Insurance Co., Inc. Red Bay Investment Company, Inc.

Related by address

FOURTH AVENUE SOUTHRED BAY, AL 35582

Town & Country Furniture of Northwest Alabama, Inc.

Date of last update: 31 Jul 2024

Sources: Alabama Secretary of State

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