HUNTSVILLE — Much like the little engine that could, Bank Independent doesn’t just think it can, but it knows it can handle big development projects.
And it does “with some home cookin’.”
At one time, projects such as Campus 805, Stovehouse, Times Plaza and MidCity District were dreams. The bigger banks didn’t want to handle them for miriad reasons.
However, Sheffield-based Bank Independent stepped up, flexed its financial muscles and made those dreams a reality and the success stories they are today.
“Campus 805 was a very important project (in 2014),” said Tim Singleton, the bank’s area president. “Stovehouse (2018) would never have happened without Campus 805.”
It took vision and imagination to turn a former middle school that was surrounded by barb-wire topped fence and a former stove factory into entertainment/retail/dining venues.
“The thing I’m proud about is Chad (Emerson, former Downtown Huntsville Inc. CEO) talking to the Straight to Ale guys to see school is out forever,” Singleton said. “And the vision of developer Randy Schrimsher.”
Singleton called Campus 805 and Stovehouse “adaptive re-use projects” that “aren’t for the faint of heart.”
“We went in to help these entrepreneurs make their dream come true,” he said.
The Times Plaza development (2018) was also a unique project, Singleton said.
The plan was to convert the vacant site of the former Huntsville Times building on South Memorial Parkway into a multi-use development of restaurants and office space.
It was something right in Bank Independent’s wheelhouse.
“Another cool project was the old Times building,” he said. “It’s half medical/half retail.”
Bank Independent offers the personal touch for developers Singleton said.
“We hear the story; we hear the plans; and make suggestions.” he said. “That’s hard for bigger banks to understand.”
Singleton said the bank is also behind a couple of other “cool projects” – a Class A apartment building across Seminole Drive from Lowe Mill and Mural at Stovehouse, an apartment community on 4th Avenue, between Stovehouse and Campus 805.
Singleton said, because of its size, Bank Independent can tackle those projects in this area, including the likes of Huntsville’s MidCity District (2017).
“We’re the fourth-largest bank in Alabama, although our offices are only in North Alabama,” he said “You’ve got the power of a good-sized bank to deliver the home cookin’.”
Bank Independent is also banking on its own growth. While other banks are closing or being bought, Bank Independent is expanding. In 2017, it opened its Holmes Avenue branch in Huntsville and, in 2019 on Nance Road in Madison. Next month, the company’s 5-story building in downtown Huntsville is expected to open.
Singleton said offices are opening this year on County Line Road in Madison and in Hampton Cove; under construction is an office at Hays Farm in Huntsville.
“It’s been a cool 8 1/2 year run,” said Singleton, who’s been with the bank since July 2014. “There’s been a lot of footprint expansion.”
A key element to the expansion and success of the bank is the people, Singleton said. Bank Independent was named to Newsweek magazine’s list of “America’s 100 Most Loved Workplaces” for 2022.
“Newsweek had us ranked with Dell, Kellogg’s, SAP,” Singleton said. “On the cover, you’ll find Bank Independent’s logo (above) Paramount.”
Singleton said the 75-year-old, family-owned (four generations) bank’s policy has helped it recruit and retain top-flight people, such as DeMarco McClain, Bob Thompson and Amanda Weaver.
“As an employee,” he tells prospective employees, “This is our forever home.”
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