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15. First Independence Bank

  • 2009 Rank: 15 (Last Year: 12)
  • Chief Executive(s): Donald Davis
  • Business Type: bank
  • Address: 44 Michigan Ave.
    Detroit, MI 48226
  • Staff: 54
  • Year Started: 1970
  • Website: http://www.firstindependence.com
Financial Information
  • Assets: $161.1
  • Capital: $15.3
  • Deposits: $112.5
  • Loans: $88.4
In millions unless otherwise stated.

First Independence Bank is Michigan’s largest black-owned bank. The Detroit-based bank operates four branches throughout the city and specializes in commercial loans.   In 2008, the bank reported assets totaling $161.1 million–down 14% from the previous year.

Donald Davis, CEO, First Independence, is a Grammy award-winning Motown guitarist.

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