First Independence Bank: how it compares with its peers
Against 29 MI banks with half to twice its assets, First Independence Bank's strongest measure in Q2 2026 is return on assets (2.08% vs. a 1.28% peer median). Its weakest relative measure is net interest margin (3.76% vs. 4.03%).
| Measure | First Independence Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 2.08% | 1.28% | Top third Ahead of 97% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.76% | 4.03% | Bottom third Ahead of 21% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 69.41% | 62.37% | Bottom third Ahead of 31% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $7.0M | $6.3M | Top third Ahead of 72% of peers |
| Loans to deposits Net loans and leases over total deposits. | 74.59% | 85.15% | Context |
What it means for lending operations
Its efficiency ratio of 69.41% is above the 62.37% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- West Shore Bank Ludington, MI · $834M
- Oxford Bank Oxford, MI · $931M
- First National Bank of Michigan Kalamazoo, MI · $989M
- Sturgis Bank & Trust Company Sturgis, MI · $1.03B
- Superior National Bank Hancock, MI · $1.04B
- United Bank of Michigan Grand Rapids, MI · $1.06B
Questions about First Independence Bank
How big is First Independence Bank?
First Independence Bank, established in 1970, is headquartered in Detroit, MI. It reported $875M in total assets in its Q2 2026 FDIC call report and operates 5 offices.
What is First Independence Bank's return on assets?
2.08% annualized in Q2 2026, against a 1.28% median for 29 MI banks with half to twice its assets, ahead of 97% of them.
What is First Independence Bank's efficiency ratio?
69.41% in Q2 2026: it spent about 69 cents in noninterest expense for each dollar of revenue. The peer median is 62.37%, and lower is better.
Is First Independence Bank growing its loans?
Net loans grew 35.1% over the year to Q2 2026, while deposits grew 33.2%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are MI banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Michigan bank ranked.