ORLANDO, Fla., April 02, 2024 (GLOBE NEWSWIRE) -- Climate First Bank, the world’s first FDIC-insured community bank founded to combat the climate crisis, today announces, through its holding company Climate First Bancorp, its latest round of capital raise to boost values-based banking efforts and initiatives across the nation supporting the company’s growth plans. This comes after the company announced reaching over $540 million in assets in its 2024 Annual Shareholder Letter and more recently exceeding $600 million in assets.
The Bank is headed into its third year of operation and is poised to exit de novo status in June 2024, allowing it to fully scale services outside Florida. Climate First Bancorp will run the capital raise campaign through September 2024 and funds are anticipated to be put toward initiatives like mission-driven technology, climate-focused loan solutions, values-aligned products and future acquisitions to accelerate the growth of subsidiaries Climate First Bank and fintech OneEthos.
“Back in 2021 when we began, we raised $44 million in start-up capital and are so grateful to have had the full support of investors, depositors and shareholders year after year because they see the impact we’re having on communities and the good we’re doing through our banking,” said Climate First Bank CEO and founder Ken LaRoe. “This next round will propel us into the natural next step for us as a bank and community leader and being a force for good in the industry. We are the only bank in the nation with a core focus on climate solutions, allowing us to gain credibility with millions of values-based businesses and consumers nationwide.”
Last year, Climate First Bancorp grew its team by 33%, increasing from 56 employees to 74. To accommodate increasing customer demands and to build out the offered services, the organization has on boarded several new employees including, Melissa Freeman who joined the marketing department as Sales Support Specialist, Natalie Nieves who joined the HR department as HR assistant, Erika Murphy who joined deposit operations as Online Banking and Deposit Operations Technician, Laura Vazquez joined as a new Universal Banker for our Winter Park branch, Julie Schmitz who joined the attorney banking team as VP, Attorney Banking Specialist and Beth Trent joined as BSA Analyst.
The bank’s community-driven approach has enabled it to gain market share quickly, despite the banking headwinds the industry experienced over the last few years. Climate First Bank currently offers sustainable banking options for solar energy adoption, retrofit construction for eco-friendly buildings, and last year financed over $153 million to mission-aligned borrowers supporting worker-owned cooperatives, health and well-being, affordable housing and youth education.
For more information on Climate First Bank, please visit https://www.climatefirstbank.com.
For more information on OneEthos, please visit https://www.oneethos.com.
About Climate First Bank
Climate First Bancorp is a financial holding company operating subsidiaries Climate First Bank and OneEthos.
Climate First Bank is a Certified B Corp, values-based community bank offering a complete, full-service portfolio of simple and easy-to-use traditional banking products. These products are powered by technology to meet the expectations of today’s consumers. In addition to offering standard banking services, the company places a special emphasis on non-governmental organizations (NGOs) and businesses committed to sustainability. Eco-conscious customers will find dedicated loan options for solar photovoltaic (PV), energy retrofits and infrastructure to help combat the climate crisis. The Bank reports annually on its impact in line with corporate social responsibility goals, read the most recent Impact Report here. Member FDIC.
Media Contacts
Sierra Moorman
Uproar PR for Climate First Bank
smoorman@uproarpr.com
