A trio of banks has invested in a minority-depository institution in Detroit.
First Independence, the parent of the $407 million-asset First Independent Bank, said in a press release Wednesday that it closed equity investments from Citigroup in New York, U.S. Bancorp in Minneapolis and Old National Bancorp in Evansville, Ind.
Donnelly Penman & Partners was the placement agent. Nelson Mullins advised First Independence, while Honigman advised the agent.