Major Rating Factors:
A five year analysis of stability tests including evaluations of capital adequacy, asset growth, and profitability lead to a Fair overall stability index (5.0 on a scale of 0 to 10). A current level of 3.7 percent of nonperforming loans to core capital combined with 3.4 percent from a year earlier contributes to the Good asset quality (6.9).
Other Rating Factors:
Excellent current capitalization (9.7 on a scale of 0 to 10) and a capital leverage ratio of 10.8. Operating profits as a percentage of assets at 3.0%, coupled with a return on assets of 2.5 has resulted in Excellent (7.9) profitability.
Asset Mix:
Comm loans (21%), securities (17%), home mtgs (15%), comm re (10%), cash (8%), consumer loans (5%), other (24%)
States with Branches:
MI, MN
Asset Quality
Non-Performing Loans to Capital
Non-Performing Assets to Assets
Non-Performing Loans to Loans
Loan Loss Reserves to Loans
Charge-Offs to Average Loans
5-Year Charge-Offs to Average Loans
5-Year Asset Growth
1-Year Asset Growth
Profitability
Operating Profit to Average Assets
Return on Equity
Net Interest Spread
5-Year ROAA (Return on Average Assets)
Overhead Efficiency Ratio
Corporate Info
Group Affiliation
First Independence Corporation
Investment Rating
--
Address
7310 Woodward Avenue
Detroit, MI 48202
Detroit, MI 48202
Phone Number
(313) 256-8400
Year Founded
1970
FDIC Number
Website
Largest Affiliates
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