Applications / Mortgage Analytics / Lenders / Michigan / First Independence Bank
Detroit, MI · State non-member bank · FDIC · $697 million assets · 91 loans in 2025
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91
loans originated, 2025
149
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First Independence Bank, a Detroit lender, is making fewer loans but bigger ones: its typical loan rose to $385,000 in 2025 while its count fell to 91.
Its typical loan was $385,000, up from $300,000 in 2024. That was larger than more than nine in ten similar lenders', state non-member banks making between half and twice as many loans, whose typical loan was $175,000. Purchases were 71.4% of its loans and refinancing 24.2%. All were conventional; in 2020, 12.5% had been FHA loans (insured by the Federal Housing Administration).
Its loans fell 16% from 108, while similar lenders grew 9% and the whole market 10%. The count has drifted down since 2018, when it made 241. The figures do not show why, but the dollars it lent rose, to $38.5 million from $36.3 million, so fewer, larger loans may be part of the story.
It has lent in Minneapolis-St. Paul-Bloomington since 2013, entered Rochester, MN in 2024 and St. Cloud, MN in 2025. In Rochester its share rose to 0.1%, ranking 106 of 276 lenders. In St. Cloud it ranked 138 of 243 in its first year.
Low- and moderate-income (LMI) borrowers took 15.7% of its loans, down from 29.0% in 2024 and lower than more than four in five similar lenders. Its share in majority-minority neighborhoods fell to 13.2% from 21.3%, but stayed higher than about two-thirds of them. The move to larger loans and to markets outside Michigan may explain both. At 91 loans, a few loans also move these shares by several points.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. First Independence Bank took 149 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 71.4% · Refinance 24.2% · Home improvement 3.3% · Other 1.1%
Conventional 100.0% · of 91 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Michigan | 69 | 75.8% |
| Minnesota | 18 | 19.8% |
| Illinois | 4 | 4.4% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Warren-Troy-Farmington Hills | 48 |
| Minneapolis-St. Paul-Bloomington | 16 |
| Detroit-Dearborn-Livonia | 11 |
| Chicago-Naperville-Schaumburg | 4 |
| Ann Arbor | 2 |
| Midland | 2 |
| Grand Rapids-Wyoming-Kentwood | 1 |
| Jackson | 1 |
| Lansing-East Lansing | 1 |
| Rochester | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 2549004O2ZT0HSAP5S70 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 254849 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 115801 | 1990–2004 |
| Respondent ID (the HMDA filer code before 2018) | 320179 | 2005–2017 |
Established 14 May 1970. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: First Independence Bank's data.
First Independence Bank's data
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First Independence Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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