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 41st largest bank in the state of Michigan. It is also the 2,018th largest bank in the nation. It was established in 1970 and as of December of 2021, it had grown to 71 employees at 2 locations. First Independence Bank has an A+ 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 - YTD1.19%
Return on Equity - YTD13.61%
Annual Interest Income$10.9MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$412.3MM$287.4MM
LoansQ4 2021vs Q4 2020$186.3MM$161.1MM
DepositsQ4 2021vs Q4 2020$301.2MM$196.5MM
Equity CapitalQ4 2021vs Q4 2020$39.4MM$23.3MM
Loan Loss AllowanceQ4 2021vs Q4 2020$2.0MM$2.0MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$531.00K$799.00K
Real Estate OwnedQ4 2021vs Q4 2020$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
University Branch3430 University Ave SeMinneapolis, MN 55414

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