First independence detroit

Don Davis was a musician, producer, and banking pioneer based primarily in Detroit, Michigan. He began his music career as a session guitarist at Motown, then switched to producing records and managing a recording studio. Davis was born in Detroit, Michigan, in and started playing music in the mids.

After leaving high school he forming his own jazz group, the Don Davis Trio, before becoming a session musician. He continued writing and producing records with Motown in Detroit but later joined Stax Records, a Memphis label.

In Stax executive Al Bell brought Davis and singer Johnnie Taylor together with the idea of trying to merge the Detroit sound and the Memphis sound into a cohesive, coherent whole. While that idea eventually failed, Davis achieved considerable success with Stax. The actual investment amount was not disclosed. First Independent Bank will be strengthened by the investment through additional capital, connections to investors, tailored support, mentorship, and training opportunities.

First Independence recently announced that it has filed an application to expand its operations into the Minneapolis market. The Federal Deposit Insurance Corp. FDIC designates a federally insured depository institution as an MDI when more than half of the voting stock is owned by minority individuals, or when the majority of the board of directors and the community served are minority. These institutions require additional capital to provide vital financial services to underserved communities.

The bank will use the investment to impact branch operations and services and continue its focus on providing financial literacy, promoting financial wellness, and building community wealth. The University of Michigan in Ann Arbor reports than one in four Detroiters is unbanked, owning neither a checking nor a savings account.

First Independence Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States. First Independence Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here. The following ratios and data are available to help you better understand the financial condition of First Independence Bank. The data is provided by the FDIC. All banks listed on BestCashCow.

No depositor has ever lost deposits that have been within the FDIC insurance limits. A lower Texas ratio indicates better coverage of problem loans. That gives it a Texas Ratio of 2. First Independence Bank has a Return on Equity of 4. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run.

A bank with a consistently low ROE can be considered poorly run. First Independence Bank has a Capitalization of Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets.

Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger. Compared to other banks in Michigan, First Independence Bank has a significantly higher percent of Multifamily Mortgages on its balance sheet, potentially indicating a specialty in that lending area.

All data from the FDIC. Additional information about this table. See the best online savings rates here. See the best local savings rates here. See the best online CD rates here.

See the best local CD rates here. See branch locations nearby. Larry lee walker Jan 5, I apoyize to the women but she still close my accout to stop me from getting my check. Compare mortgage rates here. Compare home equity lines of credit rates here. Compare personal loan rates here. There are currently no comments for First Independence Bank. Be the first to share your experience. Please provide comments that will help others. See how many people viewed this page.