First Independence Bank holds grand opening in Minnesota

First Independence Bank holds grand opening in Minnesota
Photo credit: Crwn Media

First Independence Bank had its grand opening celebration on April 26 as the community event marked its first Black-owned bank in Minnesota.

Damon Jenkins, the senior Vice President and Twin Cities regional market president for First Independence Bank was present, as well as Kiko Davis, the bank’s majority stockholder.


People who were also present at the event were Kenneth Kelly, Chairman & CEO, First Independence Bank; Danielle Squires, Head of Diverse Segments for Corporate & Investment Banking, Wells Fargo; Community partners leadership: Paul Williams, CEO, Project for Pride in Living (PPL); Lieutenant Governor Peggy Flanagan and Minneapolis Mayor Jacob Frey.

First Independence Bank is one of the few minority-owned banks in the country. In a historic move, the bank ventured to open a location outside of its Detroit headquarters for the first time in more than the 50 years that it’s been in business.


First Independence Bank plans to serve all communities and underrepresented communities in Minnesota.

First Independence Bank is the 7th largest Black-owned commercial bank in the United States. Headquartered in Detroit, Michigan, with its newest location in Minneapolis, Minnesota, it offers a variety of high-quality banking services from managing accounts to personal loans, mortgages, consumer education and investments. First Independence Bank has three locations and offers banking solutions online and digitally through its mobile app. Established in 1970, the bank continues to be a responsible leader, efficiently serving the financial needs of its community, its businesses, and its customers nationwide. First Independence Bank is a member of FDIC and Equal Housing Lender.

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