First Independence Bank is headquartered in Detroit and is the 36th largest bank in the state of Michigan. It is also the 1,853rd largest bank in the nation. It was established in 1970 and as of June of 2022, it had grown to 80 employees at 3 locations. First Independence Bank has an A 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 | 0.19% |
| Return on Equity - YTD | 2.14% |
| Annual Interest Income | $5.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $457.8MM$348.9MM |
| Loans | Q2 2022vs Q2 2021 | $226.0MM$149.4MM |
| Deposits | Q2 2022vs Q2 2021 | $350.3MM$240.7MM |
| Equity Capital | Q2 2022vs Q2 2021 | $34.6MM$30.3MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $2.5MM$2.0MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $1.6MM$887.00K |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |
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| First Independence Bank Locations | ||
|---|---|---|
| First Independence Bank | 7310 Woodward Ave | Detroit, MI 48202 |
| 7 Mile Branch | 7020 West Seven Mile Road | Detroit, MI 48221 |
| University Branch | 3430 University Ave Se | Minneapolis, MN 55414 |