Fifth Third Bank boosts investment in Detroit-based First Independence Follows $3 million investment in 2008 Larger banks increasingly taking investment positions in minority banks Kenneth Kelly First Independence Bank, among the nation's largest Black-owned banks, continues to receive interest from larger lenders amid calls for more economic equity. The Detroit-based First Independence, a minority depository institution and community development financial institution (CDFI), has received a follow-investment of $2.5 million from a community development subsidiary of Fifth Third Bancorp., according to a news release. The investment, announced on Monday, brings the Cincinnati-based Fifth Third's total investment in First Independence to $5.5 million since 2008, according to the release.