About

First Independence opens its doors in Detroit, created to expand access to capital and build community economic stability.

Don Davis acquires a controlling interest, helping preserve the bank as a Black-owned institution anchored in Detroit.

First Independence received federal approval that expanded our ability to support homeownership through FHA-backed mortgage lending.

By the end of 1995, the bank reported $95 million in total assets, reflecting steady growth and a stronger foundation to serve the community.

A federal community lending evaluation described First Independence as a minority-owned bank serving Detroit through four branches and multiple ATMs, and noted continued progress in meeting local credit needs.

A federal community-lending review reports continued progress and notes the bank’s growth, including reported assets of $167.4 million (as of June 30, 2003).

Don Davis passes away after decades of leadership and stewardship of the bank.

Kenneth Kelly becomes Chairman and CEO, continuing the mission while positioning the bank for a bigger national footprint.

First Independence marks 50 years of service and community impact.

First Independence opens its Twin Cities branch in Minneapolis, a major expansion milestone.

Kenneth Kelly is elected Chair of the American Bankers Association for the 2025-2026 term.

The Federal Deposit Insurance Corporation announces First Independence assumes all deposits of Metropolitan Capital Bank & Trust after the bank’s closure, expanding service to new customers.