First Independence Bank is a bank based in Detroit, Michigan, established in 1970, with $875 million in total assets across 5 branches. By Trust Grade it ranks 34th of 73 banks we track in Michigan. Its capital ratio of 9.3% trails most similarly sized banks (35th percentile), versus a Michigan median of 9.6%. It was profitable over the most recent period, with a 3.67% return on assets. No consumer complaints against First Independence Bank appear in the CFPB database over our analysis window — common for an institution of this size and a point in its favor.
How First Independence Bank compares to Michigan peers
How we graded First Independence Bank
The Trust Grade blends financial strength with complaint history. Full methodology →
- Strongly capitalized (9.3% capital ratio)
- Strongly profitable (ROA 3.67%)
- No CFPB complaints on record
Consumer complaints (CFPB)
No CFPB complaints are on file for First Independence Bank over the analysis window. For a smaller institution this is common and counts in its favor.
Branch locations (5)
- 7310 Woodward Ave, Detroit, MI 48202
- 7020 W 7 Mile Rd, Detroit, MI 48221
- 9 E Ontario St, Chicago, IL 60611
- 3430 University Ave Se, Minneapolis, MN 55414
- 2215 E Lake St, Minneapolis, MN 55407
Are deposits at First Independence Bank insured?
Yes. First Independence Bank is an FDIC-insured bank (FDIC certificate #20179). Deposits are federally insured up to $250,000per depositor, per ownership category — regardless of this institution's Trust Grade. The grade reflects financial strength and complaint history for comparison, not the safety of insured deposits.
First Independence Bank: frequently asked questions
Is First Independence Bank a good bank?
First Independence Bank earns a Bankzia Trust Grade of A (95/100, "Excellent"), based on a financial-strength score of 95/100 (it has no CFPB complaints on record). Strongly capitalized (9.3% capital ratio); Strongly profitable (ROA 3.67%).
Is First Independence Bank FDIC-insured?
Yes. First Independence Bank is a FDIC-insured bank (FDIC certificate #20179). Deposits are protected up to the standard FDIC limit of $250,000 per depositor, per ownership category.
How big is First Independence Bank?
First Independence Bank holds $875 million in total assets, ranking 34th of 73 banks we track in Michigan. It operates 5 branches.
Does First Independence Bank have CFPB complaints?
No CFPB complaints against First Independence Bank appear in our data over the analysis window, which is typical for a bank of this size.
Similar Banks
Financial data from FDIC call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is an independent resource and is not affiliated with any government agency or financial institution. Figures are for general information, not financial advice.
