First Independence Bank

First Independence Bank


Overview / Commentary
313-256-8400
7310 Woodward Ave Suite 101
Detroit, MI 48202

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.

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
B+

Health Grade Components

Overall
FDIC Certificate #20179
Year Established1970
Employees80
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.46%
Return on Equity - YTD5.75%
Annual Interest Income$10.8MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$287.4MM$296.0MM
LoansQ4 2020vs Q4 2019$161.1MM$166.9MM
DepositsQ4 2020vs Q4 2019$196.5MM$209.4MM
Equity CapitalQ4 2020vs Q4 2019$23.3MM$22.6MM
Loan Loss AllowanceQ4 2020vs Q4 2019$2.0MM$3.0MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$799.00K$3.2MM
Real Estate OwnedQ4 2020vs Q4 2019$0$0
Rates

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

Locations


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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