First Independence Bank
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Data as of · sourced from FFIEC call reports. How we update
First Independence Bank is an FDIC-insured commercial bank headquartered in Detroit, MI, established in 1970 (FDIC certificate 20179), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $875.3M, up 25.1% from Q2 2025, the 21st largest of 72 banks headquartered in Michigan. It reports no CET1 ratio; its Tier 1 leverage ratio was 10.82% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 20179
- Headquarters
- Detroit, MI
- Established
- 1970
- Total assets, Q2 2026
- $875.3M
- Assets vs Q2 2025
- +25.1%
- Tier 1 leverage ratio, Q2 2026
- 10.82%
- Domestic offices
- 5 FDIC institution directory, current count
- Routing number
- 072001079
- Latest call report
- Q2 2026, FFIEC 051 · First Independence Bank call report
- Holding company
- FIRST INDEPENDENCE CORPORATION
- Asset rank in state
- 21st of 72 in Michigan
First Independence Bank spends more to run itself than most banks of its size. The Detroit, Michigan bank had $875 million in assets at June 30, 2026, up 25.1% from a year earlier. It spends about 84 cents to bring in each dollar of revenue, higher than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 61 cents). It also grew its loan book 35.9% over the year, 6.6 times the median of 5.5% for banks its size.
The commercial and industrial book ($185 million) is worsening: 2.85% of it is past due or on nonaccrual, up from 0.35% a year earlier. Net income for the quarter slipped 27% from a year earlier, to $1.3 million. Profitability lags: it earns about $0.59 a year on every $100 of assets, about half the median of $1.28 for banks its size.
As of June 30, 2026, First Independence Bank reported a return on assets of 0.59%, a nonperforming-loan ratio of 0.71% and a Texas ratio of 5.64%. The figures come from its call report filed with the FFIEC.
Of the 72 banks headquartered in Michigan, First Independence Bank is the 21st largest by total assets at Q2 2026. From Q1 2026 to Q2 2026, its total assets were flat, loans fell 2.7% and deposits rose 2.8%. The largest part of its loan book on June 30, 2026 was commercial and industrial loans, at 34.5% of total loans, ahead of 1-4 family residential loans at 24.6%. Its 5 offices in the FDIC Summary of Deposits are in Detroit, MI, Chicago, IL and Minneapolis, MN; its Detroit 2 offices book 73% of its branch deposits. On its Q2 2026 call report, First Independence Bank meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 7310 Woodward Ave, Detroit, MI 48202
- County
- Wayne
- Metro Area
- Detroit-Warren-Dearborn, MI
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Chicago (Region 9)
- Federal Reserve member
- No
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- May 14, 1970
- Domestic offices
- 5 FDIC institution directory, current count
- Employees (FTE)
- 125
- Domestic deposits
- $703.4M
- Allowance for credit losses
- $10.7M
- Net charge-offs (YTD)
- $5.3M
- Average total assets
- $868.7M
- Average total loans
- $522.8M
- Average interest-bearing deposits
- $532.1M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- May 14, 1970
- FDIC Cert
- 20179
- Fed RSSD
- 254849
- SEC CIK
- 745140 → filed by FIRST INDEPENDENCE CORPORATION
- Website
- www.firstindependence.com →
- Parent Holding Company
- FIRST INDEPENDENCE CORPORATION (RSSD 1134564)
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, First Independence Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, First Independence Bank's total assets ran between $601.8M (Q3 2023) and $875.3M (Q2 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$875.3M total assets against $699.7M; $770.5M total liabilities against $620.7M.
$524.7M net loans and leases against $388.2M; $703.4M total deposits against $527.9M.
$150.7M securities against $120.6M; $99.3M cash and balances due against $75.7M.
$10.5M total interest income against $7.9M; $3.7M total interest expense against $3.2M.
$6.9M net interest income against $4.7M.
$11.2M total noninterest income against $10.9M; $15.4M total noninterest expense against $12.3M.
$102K provision for credit losses against $210K.
$1.3M net income against $1.8M.
0.59% return on assets against 1.00%; 3.55% net interest margin against 3.14%.
10.82% tier 1 leverage ratio against 10.15%.
Inside the full First Independence Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFirst Independence Bank rankings
Its closest position to the top of a national ranking is 1,156 of 4,196, for total assets; its furthest is 3,364 of 3,606, for efficiency ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.59% (Q2 2026) to 3.46% (Q1 2026) and its net interest margin ran from 2.93% (Q3 2025) to 3.55% (Q2 2026).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 10.82% | 0.59% | 0.71% | 5.64% | 3.55% |
| Q1 2026 | 11.10% | 3.46% | 1.02% | 7.38% | 3.46% |
| Q4 2025 | 10.39% | 0.74% | 0.24% | 1.47% | 2.99% |
| Q3 2025 | 10.39% | 0.88% | 0.39% | 2.29% | 2.93% |
| Q2 2025 | 10.15% | 1.00% | 0.56% | 3.39% | 3.14% |
| Q1 2025 | 10.15% | 0.70% | 0.61% | 3.62% | 3.00% |
| Q4 2024 | 9.96% | 0.86% | 0.68% | 4.34% | 3.02% |
| Q3 2024 | 10.35% | 1.15% | 0.28% | 1.82% | 3.33% |
Swipe the table sideways to see every column.
Branch Network
View all 5 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| First Independence Bank (main office) | Detroit , MI | 48202 | $483.8M |
| Metropolitan Capital Bank & Trust Branch | Chicago , IL | 60611 | $131.4M |
| Lake Street Branch | Minneapolis , MN | 55407 | $40.8M |
| 7 Mile Branch | Detroit , MI | 48221 | $26.8M |
| University Branch | Minneapolis , MN | 55414 | $20.5M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| January 31, 2026 | Structure Change | Acquired Metropolitan Capital Bank & Trust Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| January 30, 2026 | Merger | Participated in FDIC Assisted Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 2 events.
Regulatory record
Facts as filed or published, not a rating.
- Enforcement actions
- 2 against the institution (OCC)
- October 7, 1992, OCC: Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First Independence National Bank Of Detroit
- April 24, 1991, OCC: Formal Agreement: First Independence National Bank
- Period: Most recent institution action October 7, 1992. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.2% of deposits in MI, rank 42 of 95 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 157 applications, 91 loans originated, $38.5M originated, across 4 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 2 loans, $250K approved, $125K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2020 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about First Independence Bank
What are First Independence Bank's total assets?
As of the Q2 2026 filing, First Independence Bank reported total assets of $875.3 million in its FFIEC call report.
Where is First Independence Bank headquartered?
It is headquartered in Detroit, MI, United States.
When was First Independence Bank founded?
It was established in 1970, per the FDIC institution directory.
Is First Independence Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #20179). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First Independence Bank?
First Independence Bank's primary federal regulator is the FDIC.
How many branches does First Independence Bank operate?
It operates 5 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First Independence Bank's Texas Ratio?
Its Texas Ratio is 5.64% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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