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 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.

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

Health Grade Components

Overall
FDIC Certificate #20179
Year Established1970
Employees80
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.19%
Return on Equity - YTD2.14%
Annual Interest Income$5.8MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$457.8MM$348.9MM
LoansQ2 2022vs Q2 2021$226.0MM$149.4MM
DepositsQ2 2022vs Q2 2021$350.3MM$240.7MM
Equity CapitalQ2 2022vs Q2 2021$34.6MM$30.3MM
Loan Loss AllowanceQ2 2022vs Q2 2021$2.5MM$2.0MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$1.6MM$887.00K
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates

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

Locations


First Independence Bank Locations
First Independence Bank7310 Woodward AveDetroit, MI 48202
7 Mile Branch7020 West Seven Mile RoadDetroit, MI 48221
University Branch3430 University Ave SeMinneapolis, MN 55414

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