ST. PETERSBURG, Fla., July 12, 2023 (GLOBE NEWSWIRE) -- Climate First Bank, the world’s first FDIC-insured community bank founded to combat the climate crisis, marks its two-year anniversary with the release of its 2022 Impact Report. Committed to its mission and accountability as a leader in values-based banking, Climate First Bank’s impact report measures the bank’s impact on the climate and community.
“I’m proud to celebrate our second year of business with such great impact and growth,” said Climate First Bank Founder and CEO Ken LaRoe. “As one of the fastest growing start-up banks in the United States, we’re proving that a bank can deliver incredible growth while prioritizing the climate and contributing to true community prosperity.”
Read the entire report here. Highlights from the 2022 Impact Report include:
- Outstanding Growth – In 2022, Climate First Bank grew its assets by 127% and total deposits by 167%. More recently, Climate First Bank closed out a successful capital raise, bringing in a grand total of $34.8M. Additionally, Climate First Bank opened two new branch locations in Winter Park and Mount Dora to better serve Central Florida.
- Solar Successes – Following the launch of its proprietary digital solar lending platform in May 2022, Climate First Bank financed $24M of renewable energy by year-end. The 16.7MW of solar systems will save 245K metric tons of CO2 from polluting the atmosphere – equivalent to planting 4M trees.
- Positive Environmental Impact – Climate First Bank offset 100% of its Scope 1, 2 and Operational Scope 3 emissions, calculated by its partner We Are Neutral. Through its 1% for the Planet commitment, Climate First Bank gave $71K in 2022 to environmental nonprofits.
- Expanding Diversity – 60% of staff identify as women and 21% identify with an underrepresented population. 50% of management identify as women and 31% identify with an underrepresented population. Climate First Bank also was honored by the Orlando Business Journal’s 2023 Diversity in Business Awards for initiatives like Pride Banking, which supports LGBTQ+ nonprofits and provides inclusive, accessible banking to the LGBTQ+ community.
- OneEthos – Launched in 2022, OneEthos is a fintech subsidiary under the Climate First Bancorp holding company umbrella. Its all-in-one platform will allow other banks to adopt Climate First Bank's sustainable lending, impact banking and reporting solutions.
- B Corp Certification – Throughout 2022, Climate First Bank, OneEthos and Climate First Bancorp worked toward becoming B Corp Certified. On July 6, 2023, Climate First Bank, OneEthos and Climate First Bancorp became officially B Corp Certified, earning an overall final assessment score of 98.6, well exceeding the 80 points required to become a B Corp. The points represent the bank’s high standards of social and environmental performance, accountability and transparency.
Visit climatefirstbank.com to learn more.
About Climate First Bank
Climate First Bank is a values-based community bank offering a complete, full-service portfolio of simple and easy-to-use traditional banking products. These products are powered by high 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. Member FDIC.
Media Contacts
Ericka Rivera
Uproar PR for Climate First Bank
erivera@uproarpr.com
