Detroit City Wire

Ernst & Young LLP (EY US) recently honored Kenneth Kelly, Chairman and CEO of First Independence Bank, as a 2024 Entrepreneur Of The Year® Michigan and Northwest Ohio Award winner. This recognition celebrates Kelly’s leadership and impact in driving innovation and fostering economic growth in the banking industry. Entrepreneur Of The Year® highlights exceptional entrepreneurs who demonstrate excellence in financial performance, societal impact, and commitment to building a more equitable and sustainable future. Kelly’s leadership at First Independence Bank, one of the nation’s few Black-owned banks, has set a high standard for community empowerment and business success.

Kelly was chosen by a group of judges comprising past award recipients, top CEOs, and influential business figures. The assessment criteria included candidates' capacity to generate lasting value through their entrepreneurial drive, dedication to their mission, and track record of significant growth and impact.

Kelly expressed his honor at this acknowledgment: “This prestigious award honors our shareholders, board of directors, management team, and our customers and for that, I am grateful.”

First Independence Bank is the seventh-largest Black-owned commercial bank in the United States. With its headquarters in Detroit, Michigan, and its most recent location in Minneapolis, Minnesota, the bank provides a wide range of banking services including account management, personalized loan solutions, mortgage offerings, consumer education programs, and investment opportunities. Since its establishment in 1970, First Independence Bank has remained dedicated to serving the community.

As a regional award winner in Michigan and Northwest Ohio, Kelly qualifies for consideration for the Entrepreneur Of The Year 2024 National Awards. National Award winners will be revealed in November at the Strategic Growth Forum®. The recipient of the Entrepreneur Of The Year National Overall Award will advance to compete for the World Entrepreneur Of The Year® Award in June 2025.

The Entrepreneur Of The Year program acknowledges business leaders who have demonstrated ingenuity and entrepreneurial spirit. It recognizes original founders who built their businesses from inception or secured outside capital to fuel growth; transformational CEOs who have injected innovation into existing organizations; multigenerational family business leaders who have reimagined legacy business models; among others.

Past recognized leaders include Daymond John of FUBU; Hamdi Ulukaya of Chobani Inc.; Holly Thaggard and Amanda Baldwin of Supergoop!; Howard Schultz of Starbucks Coffee Company; James Park of Fitbit; Jodi Berg of Vitamix; Andra Rush of The Rush Group; Kendra Scott of Kendra Scott LLC; Reid Hoffman and Jeff Weiner of LinkedIn Corporation; Sheila Mikhail of AskBio; Carla Walker-Miller of Walker-Miller Energy Services; Natalie King of Dunamis Clean Energy Partners; Greg Williams of Acrisure; Raj Vattikuti of Altimetrik; Bruce Smith from Detroit Manufacturing Systems.

Entrepreneur Of The Year Award winners become lifetime members of a global community supported by EY resources. EY US also supports entrepreneurs through programs like EY Entrepreneurial Winning Women™ (Winning Women) which connects women founders with necessary resources or networks needed to unlock potential.