First Independence Bank is headquartered in Detroit and is the 52nd largest bank in the state of Michigan. It is also the 2,463rd largest bank in the nation. It was established in 1970 and as of December of 2020, it had grown to 80 employees at 3 locations. First Independence Bank has a B+ health rating.
I got a loan from this bank and during the process they were rude, and did return calls.
| Overall | |
|---|---|
| FDIC Certificate # | 20179 |
| Year Established | 1970 |
| Employees | 80 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.46% |
| Return on Equity - YTD | 5.75% |
| Annual Interest Income | $10.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $287.4MM$296.0MM |
| Loans | Q4 2020vs Q4 2019 | $161.1MM$166.9MM |
| Deposits | Q4 2020vs Q4 2019 | $196.5MM$209.4MM |
| Equity Capital | Q4 2020vs Q4 2019 | $23.3MM$22.6MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $2.0MM$3.0MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $799.00K$3.2MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |
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| First Independence Bank Locations | ||
|---|---|---|
| First Independence Bank | 7310 Woodward Ave. Suite 101 | Detroit, MI 48202 |
| 7 Mile Branch | 7020 West Seven Mile Road | Detroit, MI 48221 |
| Garfield Branch | 38880 Garfield Rd | Clinton Township, MI 48038 |