Lakewood, Colo., Nov. 03, 2021 (GLOBE NEWSWIRE) -- FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” announced its 2021 third quarter summary on the company’s holdings and activities. The bank recorded double-digit percentage increases in assets, deposits, and income over totals from the same period last year.
FirstBank’s assets at the end of September totaled $27.4 billion, up 16.3 percent from the same period in 2020, and total deposits were $25.1 billion, exceeding last year’s third quarter deposits by an even 20 percent. Net income grew by 29.6 percent year-over-year, to $222.5 million, while net loans grew 4.4 percent year-over-year to $13.5 billion.
Along with these measures of growth, FirstBank announced the results of its Bloom campaign. In partnership with reforestation nonprofit One Tree Planted, the bank planted trees for every FirstBank Bloom Package opened between June 1 and Aug. 31, resulting in over 50,000 trees planted across Colorado, California, and Arizona.
Notably, FirstBank was recognized for its efforts to support the Paycheck Protection Program. FirstBank issued more than 18,000 loans in Colorado, the most of any lender in the state, to help small businesses avoid layoffs related to the pandemic. For that decisive action, which saved thousands of jobs, FirstBank received a special honor in August of this year by Colorado Governor Jared Polis and the Colorado Office of Economic Development and International Trade.
“Banking for good isn’t just a slogan for us, it’s a sincere motivation,” said FirstBank CEO Jim Reuter. “We’ve been pleased to help our community navigate the turbulence of the pandemic and look forward to coming out the other side stronger than before. It was an honor to be recognized by the Governor alongside other businesses who are helping our community navigate the challenges of today.”
For more information about FirstBank, visit www.efirstbank.com.
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 $27 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.
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