First Independence Bank

First Independence Bank

Overview / Commentary
7310 Woodward Ave Suite 101
Detroit, MI 48202

First Independence Bank is headquartered in Detroit and is the 51st largest bank in the state of Michigan. It is also the 2,424th largest bank in the nation. It was established in 1970 and as of September of 2020, it had grown to 68 employees at 3 locations. First Independence Bank has a B+ health rating.

Reviews (1)

Customer Service

Posted by: |

I got a loan from this bank and during the process they were rude, and did return calls.


Health Grade Components

FDIC Certificate #20179
Year Established1970
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.27%
Return on Equity - YTD3.44%
Annual Interest Income$8.1MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$290.6MM$278.0MM
LoansQ3 2020vs Q3 2019$176.3MM$177.1MM
DepositsQ3 2020vs Q3 2019$198.9MM$195.6MM
Equity CapitalQ3 2020vs Q3 2019$22.6MM$23.3MM
Loan Loss AllowanceQ3 2020vs Q3 2019$1.5MM$1.5MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$558.00K$1.1MM
Real Estate OwnedQ3 2020vs Q3 2019$0$0

Sorry, we do not have rate data for First Independence Bank.


First Independence Bank Locations
First Independence Bank7310 Woodward Ave. Suite 101Detroit, MI 48202
7 Mile Branch7020 West Seven Mile RoadDetroit, MI 48221
Garfield Branch38880 Garfield RdClinton Township, MI 48038

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