LAKEWOOD, Colo., May 11, 2021 (GLOBE NEWSWIRE) -- FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” closed the first quarter of 2021 with double-digit growth in deposits, assets and net loans from the same period last year, including a 29.1 percent increase in total deposits to $23.5 billion.
The bank’s total assets grew by 28 percent to $25.9 billion and net loans were up by 16.3 percent from last year to $13.4 billion. Additionally, FirstBank originated more PPP loans than any bank in Colorado, helping thousands of small businesses get to the other side of the pandemic.
“We are humbled by the strength, perseverance and level of dedication our entire organization demonstrated in helping serve small business and underserved populations,” said Jim Reuter, CEO of FirstBank. “Our company’s mission has been a guiding light, not only in helping our strategic growth, but it’s kept us focused on what matters – supporting customers and uplifting communities.”
Outside of helping small businesses, FirstBank made a $50,000 donation to the capital campaign of the Center for African American Health (CAA Health) in honor of Black History Month. The bank’s donation will enable CAA Health to expand its services and programming, and to continue its mission of improving the well-being of Black/African Americans.
What’s more, FirstBank surprised dozens of families across Phoenix by paying for their groceries ahead of Arizona Gives Day (AZ Gives Day) this past March. As a longtime corporate partner of the one-day fundraising event, the bank asked lucky recipients to consider “giving it forward” – even if it’s just $5 – to their favorite AZ Gives Day charity.
To learn more about how FirstBank is empowering underserved communities, check out the organization’s 2020 community impact report at https://www.efirstbank.com/_assets/documents/FBCommunityReport2020.pdf.
About FirstBank
FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking and has grown to be one of the largest privately held banks in the United States, maintaining more than $25 billion in assets and 110 branch locations across Colorado, Arizona and California. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing nearly $75 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program.
For more information, visit www.efirstbank.com.
MEMBER FDIC
###
Attachment
